Member Info for neilrich3

Better linkhttps://twitter.com/StickyStock81/status/1407762747983646721

https://twitter.com/search?q=%23NCYT&src=recent_search_click&f=live

The Danes, with a population of 5.8 million, have a daily testing capacity of 500,000 antigen tests and 200,000 PCR tests. Danes go for regular tests and use negative results to access bars, restaurants and, yes, football stadiums.

https://www.rte.ie/news/primetime/2021/0622/1230778-denmark-ireland-euro-2020-covid-reopening/

Should the UK wish to match Denmark in terms of testing, we require approximately 6 million LFT per day and 2.4 million PCR.

I think that the revenue guidance for £100m this year is BS, although meant to be worst case scenario, once you add back the DHSC and include the Antigen LFT about to be released, the figure is more likely to be in the region of £150m-£200m.

B2HS2L, I'd say No, the team of fifty are on the ground working within the regions.

Should the DHSC not accept the offer from NCYT under the terms of the warranty claim procedure and the matter goes to court, DHSC could end up with nothing and have to pay for the outstanding invoices plus costs, without any new product from NCYT under warranty.

If I was a betting man....I'd say that this shall be settled sooner rather than later.

https://twitter.com/itosettiMD_MBA/status/1407687127865909255

Would we likely hear? Surly NHS buying nothing more than little bits here and there under the terms of the framework. Would not expect any single large orders, more likely to be £25k a pop.

Have to wonder though, we have a team of fifty supporting/selling into the NHS, must be something to show for their efforts.

16,135

Something big on the cards, GM has kept that Ace up his sleeve, I'm predicting the Antigen LFT, however no ordinary test, I think that NCYT likely to have reinvented the wheel, a test that blows all the competition out of the water.

PROP5, My feeling is that a resolution is close, the company have gone above and beyond with a fantastic offer to get the DHSC out of a hole. What's the alternative for the DHSC, legal proceedings which their own team shall know they have little chance of winning. I think that the offer may well involve LFT and/or a combination of new products.

I don't believe that this offer from NCYT has been on the table since April, more than likely made within the last week.

This would be win win for both parties in my opinion.

As Blackbird pointed out, contained within yesterday's results..... 'At the date of signing the financial statements, £23,957,000 of the year end receivables were overdue due to a contract dispute. Management expects to be able to recover these balances in full; this is a significant judgement.'

GM and the team appear very confident, but have had to state the usual caveats within the results.

https://twitter.com/BlackbirdInvest/status/1407634083979616256
Excellent tweet and agree, although not sure that someone within the company is accountable, I don't believe that the specific product to which the dispute centres upon was defective, do accept that there were some initial teething problems, however feel that these problems were due to an under resourced NHS. The DHSC ordered too much stock which was not being used upon the shop floor, they've later attempted to return it, although not within the terms of the contract and subsequently defaulted on their payments.

I think initially NCYT were not having it, not being obliged to do anything and rightfully demanded payment, DHSC wanted a refund. Many weeks/months later NCYT have offered new stock up to the disputed value under the warranty claim procedure as a gesture of goodwill.

DHSC were in breach of contract and GM has handed them an olive branch, I think the company have played a blinder!!

PROP5, Clearly I'm blind, spill the beans....which RNS are you predicting to land before Friday?

Have just been into Shaun's dropbox, would love to see the updated Stockopedia report.

I'd imagine that the DHSC have not followed the Warranty claim procedure as per the contract and contractually NCYT is not obliged to do anything, however GM has recently offered an exchange under the warranty claim clause as a gesture of goodwill, in order to break the deadlock.

There's nothing in the contract that states if you're not happy for one reason or another that the DHSC should stop payment without notice.

Reading between the lines sounds about right, I think this could be settled quickly and GM knows it, hence why he brought the results forward by one week.

The dispute could be resolved at anytime, although frustrating at least both side continue to talk. We know that we have products that the DHSC needs, there's a deal to be done and GM knows it!

Yesterday's RNS states...'commercial discussions that are ongoing' and 'At this time, the Company is unable to provide further clarification on the dispute or the timing of resolution due to the confidential nature of discussions underway.'

With regards to the dispute negotiation with the DHSC, I'd imagine that GM is offering any product within the NCYT portfolio to the value of the disputed amount, having calculated the estimate of cost to the business. That's not unreasonable!

'The Company also expects to see significant new growth from the launch of new products during the second half of 2021, including an expansion of its lateral flow antigen testing portfolio for both professional and home use.'

An interesting line from yesterday's RNS, already talking about expansion before their first LF Antigen has even been released, wonder what's to come?

What happened to Jack's video footage? We know that he was filming Versalab at Aberdeen airport and behind the scenes with IT-IS, was expecting release yesterday with the results.

End of the day, the results contain minimal information re. the dispute, clearly discussions continue, however we've no idea where they are at, for all we know could be be at an advanced stage and a deal could be done at anytime.

'At this time, the Company is unable to provide further clarification on the dispute or the timing of resolution due to the confidential nature of discussions underway. However, the Company has taken legal advice in relation to the dispute and believes it has strong grounds to assert its contractual rights.'