Member Info for Muck165

0M posted a confirmation statement today at Companies House, showing that its sole Director (Andrew Mole, also of Pubx.ai) has been allotted 12.5% of the company with Keith retaining 87.5%.

The timing I think is very interesting given our GM headroom vote is tomorrow.

Ducks aligning here…

https://find-and-update.company-information.service.gov.uk/company/15151063/filing-history

I have a real feeling that meaningful news is on its way soon.

So this is a little odd.

https://www.linkedin.com/posts/abingdon-health_ivd-medtech-abingdonhealth-activity-7290679671606714368-y-Ib?utm_source=share&utm_medium=member_desktop

Why would Yates be on a panel talking about “Exit Planning”…..

Well, he and Hand have done it before with Cozart.

This paper about the development of a molecular C19 test was published just before Xmas. It didn’t really interest me much at the time but given the last RNS I think some things are worthy of note.

- It’s authored by a set of academics at Institut Pasteur de Tunis.

- The very first para talks expressly about the need for “ countries to access diagnostics, expand testing capacity, and develop their own diagnostic capabilities and alternative rapid accurate nucleic acid diagnostics that are at lower costs.”

- The paper makes clear that “ Here, we propose a visual SARS-CoV-2 detection using a one-step fast multiplex reverse transcription-PCR (RT-PCR) amplification coupled to lateral flow immunoassay detection on a PCRD device (Abingdon Health, UK).”

We are working with the Institut Pasteur to develop a malaria test which ultimately will allow for domestic production in Africa. Given the paper, it’s perhaps not too much of a stretch to think we might already be involved, or be commissioned to assist with a C19 molecular test for the same reasons.

https://pubmed.ncbi.nlm.nih.gov/39695471/

Gives us another outing in his podcast review today, at about 6 mins in.

https://www.youtube.com/watch?v=79Wl7Vsme1A

Sounding positive at least on the charts with a 1.12 "logical" target for the end of Feb.

Does that apply to the application layer?

Radically reduced cost plus increased application. What’s not to like!

My bet here is that CIQ final terms have been agreed, with deal execution conditional upon GFIN obtaining appropriate headroom to cover the option. On that basis I don’t think we will see any significant news until after the GM, but that an announcement will come quickly thereafter. Who knows, we might already have customers lined up.

And of course we would have 12 months from deal execution to exercise the option at a fixed price (which we would only do if CIQ proved successful), so if there was to be a significant raise it wouldn’t be for some time yet!

Because €500k doesn’t go very far and, unless there’s something decent in the interims, now maybe his only chance.

Interims are looming, Friday at the latest.

If he has no good news to report I think he’ll have to raise before they come out.

If he hasn’t raised by Friday, there may be some news coming. It could be good on any number of fronts, but I’ve a sneaky suspicion the whole strategic direction of the company is going to move away from BP to Taj.

One other thing I stupidly forgot to factor in below is that any raise would likely be at a discount, so to get £2m with a 56% headroom would need our MCAP to be even higher at the time of any raise. If the 56% is designed to cover the potential £2m acquisition then Haley must really be confident.

One other thing I stupidly forget to

Just to add something to what I said below...

At the 2023 AGM we approved 30% headroom (pretty standard)

At the 2024 AGM (last month) we renewed that 30% approval (standard)

Now they want it increased to 56%, just a few weeks later (not standard)

So for my money something has advanced regarding CIQ over the new year . Whilst GM's are normally pretty dull affairs, particularly given that originally this one was just to confirm account and nothing else, I would not be surprised to see a CIQ deal confirmed imminently. If I were 0M after all, one of the critical things I'd want before entering into a deal with a potential purchaser of my tech is satisfaction that they could raise the cash.

For info, Halley posted this yesterday on his Twitter feed...

"Deepseek has brought in the next stage of AI. Agents will rebuild every industry. What a time to have a company with the ability to build things for the next generation!"

I'm not sure what if anything can be taken from this but it certainly doesn't sound like he was too spooked...

Agreed, and I always take comfort here that Halley isn't getting paid and so his value creation aligns entirely with ours.

GFIN posted this on their site yesterday

https://www.gfinityplc.com/wp-content/uploads/2025/01/270166-Gfinity-Notice37.pdf

As you will see, the main business of the meeting is to agree the accounts. However, they are also seeking authority to allot up to 56% of the authorised share capital to "provide the Company with the flexibility to take advantage

of market conditions to raise additional capital at the best price to support its ongoing development plans"

That authority is nearly double the authority they asked for last year (30%)

We are apparently now achieving monthly profit, so it seems less likely that any raise would be needed to keep the lights on. That leaves CIQ. If a raise was expected to full fund a £2m CIQ acquisition (as envisaged in the MOU) then at the 56% level, our MCAP would need to be nearly £3.6m,, higher if the raise needed to also cover all acquisition and financing costs.

So, it does seem to me that Halley is laying the foundations for a CIQ purchase. Whilst nobody likes the prospect of a raise, it does perhaps also suggest that a CIQ deal will more than likely happen, that Halley really does see value in it, and that he has confidence our MCAP will rise sufficiently to allow the acquisition at the 56% headroom level..

Lots online about diaTROPIX, but fundamentally it’s a company put into being with considerable support from highly reputable Western bodies (FIND, Unitaid, GADx and plenty more) to enable scaled LFT manufacturing within Africa. It was only inaugurated last month and from what I can see this Malaria test will be pretty much its first outing.

So it really is quite something I think that we’ve been selected as the CDMO partners for the test. And of course, if we make a good job with it then there’s plenty of other nasty diseases more particularly affecting the African continent we might be assigned to assist with.

And then there is the strangest thing, which I can currently sell all of my (not insubstantial holding) at higher price that I am being quoted to buy the same!

Worth remembering the news we've had just over the last few weeks;

$2m contract win announced ,alongside opening of new Doncaster Analytical Lab

New FD

CS >£500k contract win with major global

£800k funding in association with highly regarded partners.

So, if annualised these contracts alone represent nearly half of our total income for the year ending June 24. I am of course hoping that we will soon get some good interims, but whatever the case, these contracts provide a fantastic revenue foundation for the remainder of the year.

I know its a bit of a cliche on these boards but, at least for me, all that seems to be happening is that the MM's are working through large orders. I wouldn't be at all surprised to see us flat or even blue by the close.

10.50 auction may prove interesting....