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Muck - By the end of the year we will have lab and lateral flow antibody and antigen tests. They will both be required. I didn't specify which, but ODX will have the ability to adapt their product mix to demand.

Safy - the reason i say 36 months is because even after Covid is under control testing will still go on. Testing will be required to confirm the disease is no longer prevalent.

Take a look at smallpox. It was the last virus to be eradicated in 1977 but was not declared eradicated by WHO until 1980. So 3 years after the last case. Testing will still be required to ensure the disease stays away and we can declare it no longer a pandemic.

I've said before PR for sure needs to improve and i believe they are working towards it.

I've seen it before people are looking for things that say their money is going to 5 bag on opening. Then they dont see them. Then someone turns something inconspicuous into a negative and everyone runs with it, panics, the share price drops, the ones that wanted to load up lower buy in and laugh they've pulled off a masterstroke. The thing is some times directors can read something with their inside knowledge thinking its going to go down well and reading it as a non insider it can be interpreted differently. It's clear as day from the presentation what capacity will be, and with the agreements in place its clear they are going to be in high demand.

I personally think NCYT is undervalued. My concerns there will be the longevity of sales. They were first generation tests, there will be cheaper, better, quicker tests available.
ODX i believe will be right at the top in terms of competition, and i see the longevity of sales for 36 months or so.

There are too many people that have grouped association between the covid stocks not understanding them and just expecting to make 10 bags every week. Some of those are now proving to not quite be what they promised and some are still undervalued.

ODX hasn't even got going yet. its all about the next 36 months, not the last 18. The last 3 1/2 months have all been about development and positioning.

ODX has a good core business and has high growth still to come from that core business.

No other company has access to high end Lab and point of care anitbody and antigen tests. That's where we will be by year end. Covid is not going away, its not a short window of opportunity. ODX are taking the time to get this right and deliver the next generation tests rather than rush to market with a poor test with poor sales and poor longevity. This will become clear over the rest of this year, and the results and the the sales will speak for themselves.

I've just got back from being out early for a few hours, the garbage written on here this morning is new level. It's no wonder stocks are so volatile with the type of reactions ive seen here this morning. I mean seriously. It only takes one person to mention what they perceive to be a negative and for every tom dick and harry to jump on it, people that have never posted here before and have no clue about Omega telling our fortunes.

They have just delivered a set of results for the year ended 31 March before even the RTC or Mologic RNS when Covid was barely considered a threat in the UK. This is a set of results that had they not got involved in Covid would be delivered today with a great deal of pride. They turned a profit, with Food tolerance performing well with further upside to come this year with China self test approval. Their work on CD4 is starting to pay dividends and growth expected to ramp up this year. They are cash flow positive. This is an excellent achievement for a well run company. Go compare ODX to some of their peers that everyone is saying are so great pre Covid. How many of them made money, how many of them had very little debt?

It's been clear with the rerate that some of the valuation is based on Covid tests. They have just delivered an excellent business plan to expand capacity from 100k POC tests and 300k Elisa tests to 2m total tests. And they have delivered two separate business strategies with RTC and Mologic to maximise the opportunities the capacity will give them. This is an extraordinary achievement that lays the foundations for a company far larger than the one people were singing the praises of and willing to chase the share price up to 90p+. The only thing has changes is they now have 11m in the bank for 20% dilution. 20% dilution for the growth i have indicated is a very good deal.

They have mapped out for us the road path to revenues already, and although they are not as forthcoming as people want they have so far delivered everything within the expectations that they have given us. The simple fact is we had nothing on 1 April. You cant go from there to delivering millions of test per week overnight of the quality and reach that we are working towards.

Picking on a couple of choice words in an RNS. I mean seriously does that impact the 2m production capacity they are working towards or the fact they will have high quality tests at competitive prices with competitive advantage in a market where demand will far outway supply?

Crazy. You lot continue to let the idiots guide your sentiment and the poor share price performance to change your views. Im focusing ion the business and the transformation into a high volume manufacturing business with high quality, high margin products. I just hope the share price is cheap as chips every time i am able to top up as i want as many shares as i can get by year end.

Hands up who would hold 20% of a company if it 10 bags without reducing your holding? He had a personal holding worth £15m+ at his top end. After gifting half to charity (£7m plus) and the share price down he still has a holding worth £7m. Don't matter who you are that is big money. This is a guy that wants to make a difference through his charitable trust. Perhaps he wants to get that money to work at a time when charities desperately need it.
I certainly don't think his reduced holding has anything to do with his belief in the company. His share holding was pre covid so wouldn't have expected this unfortunate opportunity. At £2 his reduced holding would still be worth £35m so he still has plenty of skin in the game.

Just because they are wealthy and have a large holding it doesn't mean they have to hold every share for eternity. A lot of people would jump at the chance to book the gains he has made a lot earlier and not many would be doing so to give to charity.

Ethio - Mr Sneller has a charitable trust.

Don't forget the directors have over 7m share options between them considerably lower at an exercise price 10-15p so they don't need to be paying 40p a share if they don't think there is serious value to be had. They stand to make a substantial amount of money if they deliver a fraction of what is promised. Call it 10m shares between them a share price in the £s will set them up big time, so they will no doubt be working hard towards growth.

Chuggley - you have it in one there. The placing is enabling Omega to grow to 4 times the capacity than we could have expected without it, That capacity will be worth much more than the dilution. It might have upset people looking to flip for a quick profit, but not those here for the longer term.

Results tomorrow and update on business and current trading.

We obviously know their results so not much interest around those, but the business and trading update could be very interesting.

The big question regarding the business and trading update is, will this reveal anything that has or is already happening that we don't know, or will it just be extremely bullish on things that are about to happen?

There is a real opportunity for tomorrow to be the turning point putting the placing firmly in the past. I doubt it is coincidence that they are releasing this the day after the placing shares hit he market. I think they realised with the Mologic and RTC updates that RNS with the conditional placing in progress were counter productive. The newsflow that they have in the pipeline has to be one of the best out there. I still think our greatest day will be when the government announce the national antibody testing program rolling out tests to everyone in the UK. Profit wise Mologic is likely to be our main play, but i believe everyone will want to hold these shares the day the RTC is front page news, and it will come.

"additionally providing an update on the business and current trading"

Tony HX - Yes. They need to deliver all 5 tests running at near full capacity and complete the food tolerance and CD4 approvals and sales targets to achieve that.
The bottom end valuation is around £190m which assumes just the 200k UK RTC and only 46k per day Elisa tests.
Check out the broker note.
Or i did my own calculations which are somewhere close to the broker note if you look back at my post on 02 Jul 2020 10:57

Legin - Whether its wasted on anyone or not, always worth putting down in writing.

continued

*some way to turn that around.

Check out FInncap research note, high end valuation of £970m if reaching full capacity with Antibody and Antigen tests, and the CD4 and Food Approvals.

Mr Investment - I am a big advocate of reading the accounts and results and understanding the business and it's amazing how many will buy shares without doing so. More important here is whats to come rather than whats has gone.

It's highly unlikely there will be any surprises in terms of the results ending 31 March. We have already been told they expect to make a profit in the range of £850-£900k which is slightly ahead of expectation. What is important to understand is the business pre covid is made up of food tolerance, CD4 testing and allergy business.
The CD4 testing is really just starting to get going awaiting approvals and further orders which have been held up by Covid 19. This is a high growth area for the next couple of years, but was a loss making segment at the end of the year.
The allergy business was just worse than breakeven, quite small but with fairly high development expenditure to try grow this. With the Covid opportunity they have since decided that their fiance, human and fixed asset resources are better spent elsewhere so they have taken a non cash impairment of circa £8m for this.
The food tolerance business is the core business up until now. It is making a nice profit and still has a long way to go as self testing is expected to be approved in China any time this summer.

So you will find from the accounts a decent profitable business with no debt to speak of, low admin expenses and positive cash flow

But this is by all means a picture of the past, and ODX is greatly about to elevate into a whole new league.

So the company today as an investment opportunity, you take forward the food tolerance business, with the knowledge that self test approval in China will greatly increase sales on a high marking product. Take forward the CD4 business knowing that sales last year had barely begun, we have already signed new contracts and are waiting WHO approval along with other assessments and potential orders. So we should see high growth here too. Leave out the loss making allergy business

And then you have Covid. This is a whole new ball game. Wit plans to increase capacity to 2m tests per week, with 2 business models, one with government backed RTC expecting to supply at least 200k units per week, and Mologic agreement with 4 tests which by the end of the year are expected to include Antigen Lab and home tests

So when ODX present next week, yes there will be some interest in the past and this will show a positive picture, but it is all about the future. The interesting part is they have mentioned a trading update, so investors are keen to see if anything has progresses any further with any of the tests, capacity expansion, orders etc. So i don't see down side from these results and presentations as we know what they are. I only see upside if we were to be given some new information about any progress. But failing that, ODX is undervalued as it is and sentiment is low, so a bullish outlook can go some way to tu

His and his staff salary are already guaranteed they are a profitable business.

Upomega - i really think you are going to be proved wrong. It's starting to become clear to me that they recognise that the profile of the company has been elevated and they have to start to do things slightly differently. After all as the valuation goes up the PI wealth tied up in the stock grows so there is greater responsibility to consider the company from an investment view point.
I still think we will fly past 60 and up into the £s before too long.
Yes we should have a bit of a safety net with the food and CD4 approvals and we should expect news on these any time.

I am expecting the voting of the resolutions to clear the way for a rise. Hope they turn around an RNS today rather than wait for monday but doesnt matter either way.
I'm certain the opportunity to pick up cheap stock is running out of steam.
It will be a very interesting read when they publish results. We may or may not get some little gems disclosed regarding trading update. Great to see they have a presentation planned. This is their opportunity to start turning things around immediately after the placing completes.
Remember these funds are for immediate significant growth in the company. It's not just to cover cash flow so they can go into a shell for the rest of the year until they burn through it. Most likely due to the covid opportunities they wont need to raise funds again. Newsflow is promised very short term.

It's been a tough few weeks, but i am really encouraged by Omega's ability to start turning things around.

A few things....

News window opens from monday after the resolutions are passed. Im expecting RTC supply agreement any day plus further Mologic updates. Then constant flow of info for several months.

Looks like my earlier reading of the technicals was more spot on than others calling for further declines.

Proves my point earlier that share price is driving sentiment rather than the other way round... up a few % back to placing price and all of a sudden it's a different board.

If you got any sub 40p all i can say is good for you, you will be rewarded handsomely. Is this the turning point? Maybe maybe not, we may have a few more days of pain but it will turn and it can run up very quickly.

I wouldn't compare leaking of a placing to leaking of news. It's not ODX that is leaky, there are several people that will be aware of a placing .

Sorry dibs but you are mixing up the traders view with the investors view. Being down short term due to a placing is unfortunate but not the end of the world for investors. Fact is as a result of the placing the upside is 10 x higher.

Traders might not ignore it, but long term investors buying and adding now will benefit long term.

From a technical point of view the 20 DMA crossed over the 50DMA on 30th Jun not yesterday. The RSI is in oversold territory and the MACD is turning up. Stochastic indicator is in buy territory and flattened out and the lower bollinger band is being respected.

So no it doesn't look terrible from a technicals point of view it suggest the down trend is ending and its in the buy zone on indicators indicating a potential reversal.