Member Info for Okehurst1

Jay,

Respect.

Hi Kate

CD4 was just £137k sales that’s it for H1 2021 - according to the BoD

Lucksin, gut feeling, stop the placing and see what the BoD come back with could well be the best move at the moment

If any one promoting Vote Yes can explain tje numbers why this BoD need £9M - actually £11M with bank o/d
Less £400k

So why does the Bod need £11M ?

£11M but their placing doc says £3.9M in effect ex replicating Alva in Cambridge to manufacture CD4 but we only sold £137K in H1

Open to discussion / share data on this point

If the BoD only need £3.5M w/cap
Plus £400k to expand the remaining division generating cash

So £3.9M according to BoD Is crucial

They will have £4.5M and can raise another £1M as outlined in previous posts so they have £5.5M they need £3.9M and no fees of note

Bit of a grey area over CD4 but considering we are moving to out sourcing our manufacturing why do they need £1.5M for the manufacturing of CD4 considering they only sold £137k of product in H1 2021 ?
That doesn’t stack, why replicate Alva for £1.5M when we have just sold Alva for £600k - other than it’s near Jags house not Colin’s ?

They tell us they won’t have to pay the DHSC £2.5M

All of the above is in ‘ their ‘ placing document

If any shareholder saying Vote Yes could lay out the numbers on why they need £9M ?
Way raise an extra £6M less £400,000 in fees - assume they raise £1M as authorised at the current share price

We are not insolvent and not going bust so why raise £7M less £400k

The BoD have £37,000 of shares between then … the £7M is to make their life easy and keep the £200,000 gravy train jobs going

Suggest we focus on Vote No!

Bring the BoD back to the table, as mentioned they have authority without coming to shareholders to issue / sell
10% new equity, we push them to go down this route by beating them on the day.

It would be a nice touch to then offer the 10% to existing shares holders and we save £400,000 in fees and we avoid massive dilution

They would then have £5.5M cash

They say they need £3.5M working cap, they then have ample headroom, they focus on the Health / Nutrition division - which is our only division

It may generate £12M revenue this year at 50% gross profit they say they only need £400,000 to expand the product

They don’t need £9M, they just don’t , they tell us that in their placing document, if they hadn’t of blown £12M the last 20 months we could give them the benefit of doubt, let’s be fair not one shareholder can say this BoD hasn’t wasted our money?

Out source CD4 manufacturing, we only did £137k
H1 2021 let’s not replicate Alva in Cambridge, it nearly brought us down, we need the BoD to be savvy for once

I genuinely feel the above is pretty basic business practise
none of the above is radical

If the BoD win we are finished, they can milk it for years

We have 1 chance …. Vote No, no coming back if we lose.

Karvela,

This BoD won’t be taking a pay cut

They had a chance to have skin in the game and buy shares in the same, what do you think they will have share wise after the placing ?

It’s hard to make this up !

Out of 330,000,000 shares they will only have 2M shares
Worth over £100,000

In effect value wise just 26 weeks salary of Jag - £200,000 -
between them

They are putting their money where their wallet is not omega

But they want us Mugs to fund them

They ain’t going bust , if you can show how ?

They are mugging us off , they will lose this one

Some one started a Poll

#bringback Colin Vs #inJagwetrust. :-)

https://twitter.com/harrynorris36/status/1494607547038420992?s=10

Kate,

Based on commercial performance, dubious practices, pumping and dumping their shares , bringing our business to the edge …. This BoD must up there as one of the worst on the AIM market

Kate

With just £170k of sales of CD4 in H1 2021 surely we shouldn’t then spend another £1.5M replicating the CD4 manufacturing at Ely and all the ongoing overheads ?

We have just bathed £12M at Alva and sold for £600k

Stick to Outsourcing the Manufacturing, back to back costs to Contracts won

We can’t let these Jokers replicate the mess at Alva

No …

But they have no manufacturing facility

However … they only sold £170k in H1 last year

You would hope they have a deal with the Chinese buying Alva for £600k net that they will make for Xx

We can’t trust the Board to rebuild Alva in Cambridge

Chris, the majority by voting NO are asking for the BoD to be replaced

We want to stop the issuing of 100M shares @ 5p and for the BoD to come back to the shareholders with a proper breakdown of costs moving forward and a plan

Not a back of the fag paper lump sum guesstimate ,for example for a business turning over currently just £850,000 per month why do they need £3.5M working capital

They tell us they won’t have to pay DHSC £2.5M - both items are in the placing document

They also tell us they will only be investing £400k in the Health /Nutrition business

So they need £3.5M plus 400k

They will have £4.6M post Alva

If they want to sell 10% of the company then they can - it’s their right to

They could raise £1M @ 7p ( maybe )

They have £5.5M and are well funded

If you can explain in £numbers how they need £9M it would be appreciated .

Hence the majority are saying NO as we don’t need an extra 140M shares

Captain

The Bank will ‘ police ‘ their packages via their Covenants

This is the sole reason they want the £7M, they are then answerable to no one … shareholders / Banks

With just £117,000 of equity they control £9M of cash drawing £200,000 salaries and they shaft the £11,000,000 shareholders

Then now and then they cash out options - nice capital gains bonus’s like Jag nicked £220,000 last year on top of his salary

From their side it’s a class bit of personnel business, it’s horrible to be on this side of the trade - which we are as shareholders - but from their l’s it’s very very clever

Hi M/pink ,
You & I know each other on this BB and have been long term holders and supporters of the business and both of us have a track record of being balanced Posters

There is no way Omega goes bust IF the BoD lose they vote

How do we know this ?

They have told us they require £3.5M working cap, they will have £4.5M post transaction of Alva without the placing

They can then sell 10% shares without a vote and raise £1M plus

That’s £5.5M cash
No debt today
No loss making division

If anyone can show me how Omega is going bust it would interesting counter argument

This is all about the BoD who own £37k of shares not concerned about the £11,000,000 who are getting almost wiped out

Danl

Always enjoy your posts / debate - Kall’s as well as a counter argument, I learn a lot from the debate

Do you have any idea what the gross margin is inside
MP vs Beauty ?

I thought MP was quite high around 67% gross ?

Point being, alongside a price rise it maybe a marginal effect on EBITA margin ?

IF EBITA holds 7.4% at next update and growth has continued then that will positive news, obviously the opposite if it’s reduced number

Any views on EBITA gross profit %%%?

As Commercial Director he helped generate £600k of cash from Covid over 2 YEARS - that’s it £600k

He helped burn £12,000,000 of new cash via placings and we get £600k back from the sale of Alva

He then agrees to pay bucket house Spivs £400,000 to just find more Spivs to make a turn on 100M shares @ 5p and shafting us sharwholders

He helped pump the share price to 90p and sold his options for nearly £220,000 profit

The man’s performance is absolutely shocking, he’s unemployable and certainly won’t get a £200,000 Job and options

He is our CEO !

Vote NO need to stop this Baffoon

Captain

Your post nails it

IF the BoD win the vote I think many shareholders will dump their holding, I certainly will, we will have LTH like myself and the Spivs trying to spin a turn and we will have 330,000,000, the share will get crushed

The BoD won’t care they will have JUST 2M shares AFTER the raise VS 330,000,000 in total

I think any share holder today needs to look at that number again

IF the BoD win :

330,000,0000 shares will in circulation

BoD have JUST 2M

The BoD will have JUST over 1/2% of the equity - that’s it

So 99.5% owned by Mugs and Spivs

.5% by the BoD

We must stop the BoD

Vote No

Hi Marik

Good post, asks questions.

Personally I support the sale of Alva, it secures the 150 jobs, Orient Gene will hope to continue to secure Government Contracts off the back of having a Turnkey manufacturing plant in Scotland, albeit the mass production will be in China as they can produce for a fraction of the price of the U.K. we can guess Alva will be used for wrapping - which is what Omega were doing for OG over the summer

Omega test failed at PD for whatever reason and it’s likely they were never going to resubmit - separate subject why but we are where we are so to speak

Then we look at the buffer / reagent within the Omega LFT test, it’s not theirs it’s Mologic’s.

Omega had no real choice but to sell, they have no CTDA for what that’s worth until next Autumn? No Porton Down , USA ? Looks tricky and they need money? They have EUHUA that’s the one positive but not contracts of note - if they had contracts they would have announced ?

All in the BoD had to sell Alva in their current position

They now have £4.5M of cash , they tell us they need £3.5M working capital and they are investing £400,000 into our remaining asset in Cambridge

As such we the current shareholder don’t need an additional 100M shares @ 5p - how we got this placing is another discussion

The BoD have authority to create /sell 10% new shares, when this placing fails - which it will - they should place
18M shares and offer to existing shareholders first, they may get away at 7p, no fees of note (avoid the £400,000)

They then have £5.5M plus in the Bank
Loss making division gone
£12M a year profitable division - @ 50% gross

The ‘ rub’ is we don’t want / need 330,000,000 shares and the BoD need more skin in the game and consider their personal remuneration which is out of sync with a business generating £12M a year of sales

The NO vote puts them on notice they need to start ‘reading the room’ it’s not all about them and their £200,000 salaries / options

Another Top post Comp, it’s disturbing to see how coordinated these jokers are / continue to be

They had to make CTDA look like a dead duck to justify the £600k net sale of a manufacturing unit that cost us £12M

It’s alleged that our CEO at the time negotiated the deal with the Chinese buyers then left Omega to run it for them

The truth will come out in time

On the 3rd Feb they announce they they didn’t think they would make the deadline for CTDA

Then in the placing document on the 10th Feb - just 7 days later - they slip in they submitted the document on time

Imagine us shareholders on the 3rd being told the CTDA documents will hit the deadline by the 10th but we still
sold Alva, Colin negotiated a great a deal , we bagged £600,000 off the Chinese , Col then got a cushty job off them running Alva

This BoD are unbelievably disingenuous, yet another shocking example - too many to list we all know 000’s

https://twitter.com/rmjrb/status/1494296986929049604?s=10