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Probably the best that could be hoped for under the circumstances of Ygen’s ongoing cash issues.
As mentioned a staged rather than an outright sale, so cash received in dribs and drabs. Will it be enough to keep our CEO in the wealth he has become accustomed to? Is the cost base really being attacked?
On what basis Clarky? The current trading volumes of this company are, if anything, even lower than pre-SP crash, IIs show no interest, and the BOD show no visible signs of driving the SP back upwards. Oh, and we retain the services of a failed CEO.
No haven’t sold, but a textbook case for me of failing to operate a stop loss on this occasion.
As for MHC I don’t know enough about the background workings of the agreement. The fact they are using Ygen for testing is no guarantee of Ygen’s survival or otherwise.
For any optimists still on board here, this share is rapidly running out of road for the greatly hoped for recovery, if it ever happens.
Regrettably the clean up of the BOD was only ever half-baked. We have a FD who has supposedly gone but is available apparently to impart his gems of wisdom to any eventual successor, not yet appointed.
Worst of all is the stain on the company which remains for as long as the CEO stays in post. It is inconceivable to me that a company boss, having presided over a near-catastrophic collapse in its value, was not marched immediately to the exit and his employment terminated without recompense.
Meanwhile the company strategy of silence continues, as if waiting gracefully for the last rites to be administered. As Elton once sang, the SP is ‘too low for zero.’
Davand. Job vacancies have long been mentioned here, in expectation that the Co. was in expansion mode. It never quite turned out like that as the Co. hit the buffers, and has been forced to concentrate on its cost base whilst continuing to burn cash recently raised.
I would guess that there is a high staff turnover due to short-term contracts for mainly technicians. The only meaningful job vacancy in town would be the CEO’s if advertised!
I note the few optimists who remain on this site with the somewhat repetitive claims that this share is oversold, big bounce just around the corner etc etc. This would have appealed to seasonal punters such as twix, ever keen to average down all the way from 16p downwards.
The market still tells another story. Lest we forget, this share continues to edge ever closer to zero and oblivion. Time is running out rapido. I don’t see any of the IIs either flexing their muscles or buying in big at these levels. I don’t see any internal enthusiasm or momentum to remove LR as being ultimately responsible for the doo-doo created. As for our man from Taiwan, what does he actually do other than put big money in here?
Help someone please.
Clearly MHC are the main beneficiary of the agreement, with a few morsels of testing thrown out to Ygen to help keep the wolf from the door.
Perhaps AR, who seems still to be linked with MHC, feels a tinge of regret for departing the Ygen ship not long before it ran aground.
Of particular interest is the second RNS re the directorate reappointment. Clearly this boffin has much greater value to the company in terms of vision and future prospects. Which begs the question- what is the forever anonymous Dr Little still doing on the payroll? Attacking the ‘cost-base’ anyone?
Being articulate has never been the orator Twix’s strong points, a bit like his oft spewed pearls of wisdom. The master of the ‘average-down’ theory of investing, aka compounding losses.
If for one minute his frequent alleged purchases were even taken at face value and were accepted as genuine then I suspect the losses he has accumulated to date would have comfortably reached a seven-figure sum.
Personally, I feel ashamed to have been hoodwinked by the business model Ygen presented here, eagerly promoted by the sweet mood music of our catastrophic Welsh wizard CEO over several years. Worst of all, lacking the discipline to cut losses and run many moons ago.
The difference here? I accept the consequences of my actions ; the despicable and disreputable twix remains in denial and resorts to abuse if challenged, in the true long-established traditions of a twitterati keyboard warrior.
I suspect it is more to do with an inability to shed the ego -after all the great Buffett-wanna-be has be3n preaching for so long about his investment mastery that it is difficult to face reality.
Maybe it’s time for him to start a league table with cumulative paper-losses -soon likely to be actual monetary losses- rather than the easily misleading ‘average-down’ tally.
“ I'm not minded to take part in any legal action”. Assuming the legally parlance of the lawyerly world works makes you sound ever more absurd, Rumpole.
I still prefer your one-liner classics such as the earlier “I identified the trading opportunity and acted.”
So buying heavily at 16p and then multiple purchases for months on end at opportunistic ‘averaging-down’ prices to 0.3p amounts to strategic great foresight on your part?
Also, plagiarising the Spreadex theory outlined by another poster and trying to pass it off as your own lacks any credibility whatsoever, Buffett impersonator.
“ Recycling has been a blessing with this pos managed for the BOD.”
-one of the all time greats of the art of self-delusion. Only a demented twix could regard a regular ‘average-down’ from the spectrum of 16p all the way to a rock-bottom price of 0.3p as somehow a resounding success.
One assumed his comparative recent silence meant the penny had finally dropped and whatever treatment being administered had the desired effect.
Alas, thrice times No. Methinks the man doth preach too much!
“ The opportunity to spot trading scenarios are a bit less clear now I feel.”
A worthy epitaph on your tombstone one day twix. After all, as you were supposedly ‘averaging down’ all the way from 16p, I agree that at around 0.3p the opportunities to rinse and repeat are now somewhat limited for you.
What is increasingly clear as time lapses is that LR intends to stay in situ, and that despite overseeing a SP collapse of the order of 95% on his watch.
And why would he go voluntarily when in receipt of a salary equivalent to that of 3 Prime Ministers?
So far culpability has extended only to the FD.
It begs the question of what performance indicators, if any, are used to measure LR’s managerial and fiduciary performance?
The Chairman has been almost completely silent, suggesting either incompetence or an inability to make the decisions which might salvage this company.
Whatever happened to the concept of gross dereliction of duty?
I suspect the market is indicating it will have no upward momentum until the necessary change js made at the CEO level.
Just hope they don’t come across a recently purchased mobile home parked up at some distant relative, on the pretext of being a mobile Nipt tester.
A strange, preemptive warning of Full Year results being delayed going forward:-
“… to accommodate a longer audit cycle due to regulatory and resourcing challenges in the audit market.”
What on earth does that mean,m what are the implications?
I hope they’re not doing a SNP here, struggling to get an auditor to make sense of any potential behind-the-scenes chaos.
A going concern? No, just concerned.
It seems cash is being burned quicker than the fuel from Elon’s rocket.
How long before they have to pass the begging bowl around again, if only to keep LR in the lifestyle (and remuneration) to which he has become accustomed?
Taiwan sale clearly ain’t happening anytime soon, if at all, and the ‘partner’ reference fails to inspire.
All in all, LR at his most ineffective uselessness.
Good to see this share begin to crawl its way, inch by perilous inch, from out the abyss, as it heads to the dizzy heights of its recent disastrous money-raise price.
It takes a special kind of CEO to oversee such a stellar share performance, tracking it from a retrospectively stable price in the high teens or low twenties, all the way down to barely a third of a dime.
It is even more dynamic of him to take the vow of silence of the Trappist monk, failing to update or even properly explain the sudden necessity to raise cash before Christmas to stay afloat. As for the chairman, it seems to have all the makings of a serious dereliction of duty when a failed CEO remains in post as if it is business as usual.
Stability is clearly in the eye of the beholder.
I look forward to seeing to what extent the remuneration committee (if such truly exists here) will flex its mighty muscles to rein in LR’s earnings. After all if his delivery to date was to be reflected in his take-home, then he would be reimbursing the company. Employed for gratis.
Also, what an inspirational decision it was for AR to depart the chairmanship helm when he did, free to pursue his dapper-spiv image within the City. Surely he couldn’t have had an inkling that things were about to implode? How very dare anyone suggest such a thought?
Note no time-scale for when the supposed synergies of a single premises will kick in. It has the distinct feel of a race to the bottom- will the Co. still be trading by the time the attack on the ‘cost base’ has been concluded? How wisely is the recent money-raise being spent? And how much of it will be used to prop up the CEO with the wage he has been accustomed to? Not to mention BH and did he leave peacefully without having a wedge of cash shoved quietly his way to hasten his exit? Questions yet to be answered….
21 December 2022 was the darkest day in this company’s nascent history.
More than three long months further down the tracks and investors still clinging on are none the wiser as to the company’s prospects of survival or otherwise.
It is nothing short of scandalous that the CEO has firstly remained totally silent on any sense of direction and, secondly, is still in post.
A shameful set of circumstances.