Member Info for Muck165

Interesting to see Reeves and Starmer backing AI to the hilt today, with a view to seeing it run through the veins of the country.

Halley just put this out on Twitter

“ The suspension was only for the accounts, so just a few procedural things to do today (printers, etc). Can't confirm when lifted”

https://x.com/MarkWal17068493/status/1877634466538999983

Not entirely what I was expecting given previous RNS trading statements but still reflects massive overhead reduction and is good to see the loss reflects all restructuring costs. We know we’ve moved into profit and the CIQ tie up promises “significant” 2025 revenue uplift.

I think Halley is doing a good job, and am comforted that he’s not being paid a salary - his interests align entirely with ours.

Surprised the suspension hasn’t been lifted yet though..,

Agreed ifiknew. What sticks in my craw though is that Vast are doing the work to get 4.9% of income, but our Directors personally bought nearly 24% of Gulf, which owns 49% of the interest in Aprelevka. So Vast should benefit, but it’s our Directors who stand to benefit far more themselves.

And to make it worse, they slipped that little nugget in well after they acquired the interest, and as a short para in a much longer general trading RNS.

Worth remembering as well that Halley invested 30k on the same day he put out the unaudited full year numbers, so I think it’s fair to say that he didn’t think there was any problem with them at the time, and personally I think that will prove to be the case when audited numbers are released.

I’m certainly expecting the results next week, and for them to reflect what we’ve been told already;

“The unaudited management accounts for the year ended 30 June 2024 show revenue for the year of approximately £1.4m, a gross margin of approximately £550k and breakeven at an operating level (including the profit on disposal of Athlos Gaming Technologies, as reported in the Half Year Results, and a one-off tax credit).”

As long as they do, all is good. If added to that we get any news on decent Nov and December profit levels, then all the better. And even better still if they’re accompanied by news of a binding agreement with CIQ (or any other AI tie up).

The only thing I can see putting a spanner in the works is if the unaudited results we were told about prove undone by the audit.

But Halley doesn’t seem too worried, happily posting political comment on his Twitter feed and just returned from Florida.

A small observation, but the only significant trades today have been sells, yet the dummy price I am being offered for all my stock has risen (albeit ever so slightly) after each of those sales.

The “reviewing operations” bit has me a little suspicious. BP is a drain on the company - a natural thing to do would be to sell it leaving Vast to focus on Taj. Gulf is, after all, where our exec directors invested personally.

Jimbob - agree, he wouldn’t do it unless he thought he’d get it back.

How that might happen is the question.

Diamonds?

Sale of Assets?

Financing?

Pump and raise?

What is certain is that this is a loss making company drowning in debt.

The link below detailed all the services ABDX can provide.

This latest ABDX blog (from yesterday) details the various emerging technologies and applications for LFTs

https://www.abingdonhealth.com/news/welcome-to-lateral-flow-market-2-0/

Our new FD announced his appointment on LinkedIn earlier.

https://www.linkedin.com/posts/tomhayesuk_im-happy-to-share-that-im-starting-a-new-activity-7283085154288304128-i-Xc?utm_source=share&utm_medium=member_desktop

Tom (47) got his economics degree from Durham in 1998 and by 2001 had become a Chartered Accountant. He cut his teeth with 4 years as an audit senior at Arthur Anderson before joining E&Y as an assistant Director, working predominantly on corporate/PE transactions. In 2008 he joined Northern Bear (AIM) as Head of Finance before joining a consulting advisory business in 2011. He remained a partner in that business until 2023, but also rejoined Northern Bear in 2014 as FD before leaving to join us a week or so ago.

So, he’s a clever guy with a strong background. He typically stays with businesses a long time (and given his age could see his ABDX move as perhaps one of his last), and clearly has the acumen to determine what looks a good bet for his own career.

And he chose to join us.

I can only imagine it was, as he said in his post, because “ The business has some significant opportunities ahead having recently completed a successful fundraising, two acquisitions in regulatory services, opened a US commercial office and laboratory, and also a new analytical laboratory in the UK. ”

I saw this earlier. I can’t see right now, but I thought the more interesting thing was that the chap from Odelle liked it.

Odelle are the company supporting Upfront with access to UK and EU national health frameworks.

Agree Greend100. Happy to stay patient here (unlike whoever bought 6157 shares just now and then sold them 10 seconds later!)

Apologies - on checking my records they have moved the CE mark back from Q4 2024 to Q1 2025.

But that still demonstrates I think they expect to get it before 31/3

Worth remembering here that Loop had originally intended to launch in Spain (where they had already sorted some distribution agreements) but had to pivot to the UK.

So when the CE mark is achieved, I'm hoping progress will be accelerated given the existing agreements.

Loop have always had a milestone timeline on their site.

https://loopdx.com/

They have now updated it to confirm that the milestone of UK distribution agreements (originally targeted for Q3 2024) has been achieved. I check this every week or so, so this is a recent update.

Last time they updated their site they moved the timelines around to reflect actual progress, so its interesting to note that with this update they haven't moved the CE Mark target back from Q1 2025.

So its reasonable to think they still expect to get that this quarter.

We may absolutely see a profitable H1, and certainly the FOFH contract will help in that respect. But I would still be very happy with a significantly reduced period loss, which is the least I’m hoping for.

We are now entering H2, which has typically been a news rich period. I have to say the trading activity today has me a bit baffled given the position ABDX is in.

We asked for contract win announcements, and we’re starting to get them. The last two (FOFH and CS) represent between 20-25% of total group income for last year, and gives us a fantastic foundation to build on over the next 12 months.

And we should not forget that this one was with a major global diagnostics company, so we’re attracting proper customers!

I still think the TU may underwhelm some because it will relate to a typically thinner period, but the overall outlook is looking fantastic.

This was put out this morning as an RNS Reach (so I don’t know if it will appear on this site)

https://www.londonstockexchange.com/news-article/ABDX/cs-lifesciences-ltd-contract-win/16842040

£500k contract win with a “major global diagnostics company”. Nice.

I still think many view ABDX as "that Covid company", or a "test flogger". If there are, then this is a really great summary of what ABDX is actually all about;

https://www.abingdonhealth.com/wp-content/uploads/2025/01/Abingdon-Health-Your-Lateral-Flow-Contract-Service-Partner.pdf

And one glaring omission from even this is the ability to offer plastic free cassettes!