Member Info for Midas3316

40K confirmed as in RNS...….

I wondered how long it would take before people started trying to cash in off of the back of coronavirus and pushing shares in small AIM listed companies that are supposedly going to make a fortune from this outbreak.
Twitter has been full of people pushing a small bio-tech company called Novacyt (NCYT), and some of the tweets being used to try to pump up the share price have been disgraceful, with some even urging people to invest to save humanity and claiming that it is our moral duty to do so! Others seem to be focused on just how fantastic it will be if millions of people end up needing to be tested for the virus, as Novacyt has a test for it where results only take a couple of hours.

Prior to the excitement and an initial rise on the Thursday, it had been trading at around 15p, and had just released its full year trading update, and within it emphasised that it was having trouble fulfilling orders due to working capital constraints. So just how it is planning to suddenly produce huge numbers of tests is anyone’s guess! It also states that it will take most of H1 2020 to fully restore its manufacturing operations. This is from a company that had orders of €1.6 million but couldn’t deliver €1.3 million worth of them as at the end of last year. It did have cash of €1.8 million at the end of 2019, but a fair bit of that will go towards restoring its manufacturing.
Its financial results don’t exactly inspire confidence either, as revenue for H1 2019 stood at €7.2 million but it still managed to record a net loss of nearly €2 million for the six months, or just over €1.2 million if you strip out the discontinued operations.
The balance sheet doesn’t exactly make for pretty reading either, and even with the recent €5 million four-year term loan being used to reduce some of its more pressing liabilities, it will still have a minimum of €10.8 million of debt by my calculations – based on what the company has stated about what debt the new loan was used to repay, with €2 million of it being kept for working capital.
The fact that it had €1.8 million at the end of 2019 suggest that the rate of cash burn isn’t exactly slowing down either– despite at the same time being unable to fill orders – as if we look back, it had €600,000 in cash at the end of June 2019, and it then sold Clinical Lab for £400,000 (around €465,000), followed by NOVAprep for €400,000. So in total, including the money held back from the loan for working capital, that makes over €3.46 million, and it ended the period with €1.8 million, and so burnt through over €1.6 million in the last six months of the year.
That hardly shows the company to be in a strong position to meet the demand of incoming orders for tests, even if you actually believe that it is suddenly going to start selling huge numbers of them.
I have no doubt that there will be further attempts to pump this company and the share price will probably be volatile with a chance of further spikes £200,000 worth of ord

40k "tests" confirmed sold at around £5 each

Remind me....pmsl…..never said that.....that looks like a post you would do

Even at this price unless there is a massive increase in sales it is overpriced. It is still £20Million above its pre-coronavirus MCAP. All for £200k worth of confirmed sales. Unless the next sales update is 100's times more than this then its not going anywhere. Its all the usual hype and ramp

lol

LOL what about those with just an hour between connecting flights

PMSL Liquid Nice try

Yes that’s why Novacyt have sold a total of 40k tests. In 17 days. Pmsl.

Lol. I’ve been open all along unlike yourself and the other rampers and misleaders. The only thing I have posted is fact. Not the sh..it you post. Boom. £5 a share. Woosh. We are going to the moon. You must have a huge BELL at your END.

China have many companies which have already produced their own tests and as I posted earlier it is receiving 100ks of tests free from manufacturers all over the world.

My posts are figures from Novacyt RNS s. Which part do you believe is incorrect ?

Read my posts. I day trade these pump and dumps. Share price rising due to ramp and hype. Just have to try and get out quick though. I might dip my toe in again if it drops to 20 or 30p.

Pmsl. Read them joe. The only definite figures they have at 17th Feb was orders for £200k worth and quotes. So from 1st Feb to 17th Feb they took actual orders for £200k worth. £150k in the first 7 days and another £50k worth in the following 10 days.

It’s not a unique test NOVACYT have They do tests for hundreds of different conditions and can quite quickly adapt the test for novel viruses. As can the dozens of other companies making these tests. Once they revive a sample they can manufacture the test

If I was really deramping I would mention the fact once again that companies have so far Donated ( that’s free to you ) over 200k tests to China.

Stocksboy. This is the 7th Feb RNS. Since the World Health Organization declared the 2019-nCoV outbreak a global emergency on the 30 January 2020, the Company has seen strong demand for its nCoV test, which was launched on 31 January 2020. To date, Primerdesign has received orders for 33,000 tests.

They started selling test 1st Feb. By the 7th. The RNS on that date said they had sold 33k tests. £150k or so. Then 10 days later the RNS said they had sold another 7k tests to give a total sales figure of 40k tests. Circa £200k worth of sales in 17 days

Exactly. It was always hype that got the price to this level. It’s actually still overpriced unless some huge figures are announced.

So even if they convert those sales it only adds up to an extra £500k worth of sales. Yet the value of the company has even at this price increased by over £20million. China has received over 200k FREE kits so far.