Member Info for Okehurst1

Max, you have been a regular poster on this BB and have had a positive attitude to the success of Omega even as we hit 5p respect for that.

First off the Company is not insolvent, we know that from their placing document and them telling us just a few weeks ago they have ‘ substantial’ cash

They need £3.5M working and we have £4.5M cash
We have no debt at the moment and our loss making Alva site is disposed of and we have 1 profitable division which is really now the business selling £12M a year of product

So they only the want the money to give themselves head room so they can keeping paying themselves £200,000 salaries , the business itself doesn’t support those packages

IF we vote NO they have to work harder to make the business work so they can get that wage - £200,000 a year
Not just keep coming back to us the owners of the company to keep giving them £money - we gave them £12M over the last 2 years they just blew it

Fully understand it’s hard to take in when you have been scammed - we all have - and it’s sad to read the posts on what it’s done to genuine long term posters on here.

You do have to laugh

The BoD are raising £7M via bucket shops but only investing £400,000 in our only asset generating sales of note

They are spending as much ( £400,000) to the Spivs for the money

This BoD shouldn’t surprise us anymore but if it is true then
Colin as the CEO negotiated with the Chinese to sell our asset, we invested £12M , we got £600k back , on securing Heads of terms he then bails as a Director of Omega and becomes Accubio’s head person at Alva - if it’s factual this will come out but it makes sense on how these guys operate

He probably got a pay off from Omega on his £200,000 a year salary as well

Gravy Train

Seriously ??

‘I am going to say this as Clearly as I can, there are some really really dense, naïve people on here that just need to walk away, you just don't have the intelligence for the stock market’

Stas, can’t stress enough how stupid I feel for believing this Board of Directors, it’s criminal their level of misrepresentation

Comp

6 months ago I would never have thought you and I would have the same view on ODX - 100%

As with Captain / TW , we kept our debates clean although opposing views

Good post below

WOW!

You have to say there is no level how far this BoD will stoop to ? I should be totally shocked but somehow am kind of not.

They are a slimy bunch

…. And there Ladies & Gentleman is why they do not care about an extra 100M shares being issued to bucket house spivs at 5p

We have £11,000,0000 of shares

Make your vote count , Vote NO and it will put them under pressure to consider US .

We own the business not them

Good post Jaf

No way did they plan this presentation just a week before the vote

They will be privy to the electronic voting and it may be close call

Let’s not forget the lies from this BoD, they took £12M of shareholders cash and just blew it, they pumped the share price and then sold their options at 90p and made a lot money ,they have lied all the way through Covid

They are spending £400,000 on Fees to get this money

They collected just £600,000 from Covid Testing over
2 years - worth thinking about that and the lies that they spinned

They didnt even have the decency to come to us the shareholders for ££ to support the business, they went to bucket shop Spivs at 5p a share

Why ?

They don’t care about the share price they only have £37,000 of shares between them, Omega the company doesnt need the cash to survive we will have £4.5M of cash post sale of Alva they tell us they need £3.5M working cap

If they need additional £cash they can issue 10% extra new shares without a vote , let them do that at £5.5M of cash

Vote No

We really are getting toasted by the BoD with their placing at 5p to the spivs

We now need the share to ‘ bag ‘ to get back to 10p but with 330,000,000 shares IF we let the BoD win then that’s a
£33M market cap

We would have no Alva , no Covid testing manufacturing facilities

We don’t even own the buffer/ reagent being the biotech

So we end up with post 330,000,000 shares with ;

£9M cash no debt
£12M in sales

That’s it .

NCYT have £100M cash , £50M owed by DHSC and
£55M sales and they have CTDA / they own their own biotech - ok it’s not fully like for like to Omega but now we are not a manufacturer it’s a decent comparison

So NCYT are being valued at £140M ( cash value with DHSC money ) or £100M cash in hand and £40M for a business doing £55M a year

I can’t see Omega post the raise being valued at more than 5p as the volume of shares via spivs dumping their stock will suppress the price , maybe we get 6P in a few months time who knows but that’s a £20M m/cap !!

Ok if we knock the cash being raised (£6.6M after fees ) from the £20M m/cap ( 6P @ 330M shares ) that has the share price at 7.5p with NO placing so the shares are 42% higher IF we vote NO

Am open to anyone showing how the placing works for us shareholders when we have access to £4.5M cash , the placing document they require £3.5M and they are only putting less than £500,000 to grow the £12M division and our shares could be 42% higher as above example

Jaf , thanks for your time helping share holders out
Top guy

Freddie, we won’t be a Covid LFT manufacturer, it’s over Alva is sold, we got £600k … that’s it.

We don’t even own the Biotech that makes the test work - either

We are bit like a Betamax video recorder when it comes to LFT Antigen testing now - The Chinese own the Alva Factory

On a positive note the 150 staff kept their jobs - not to be over looked

So after 2 years and almost £12M invested they sold just £600,000 from Covid testing
(£650,000 is in dispute by DHSC )

To pour scorn on the wound they have an almost £4M charge to exit Alva - none cash so against the balance sheet

Same time they will use £400,000 of the new money to pay the bucket shops to find them Spivs

They are almost paying the Bucket Shops the same £amount in sales as they raised over the 2 years of selling Covid tests

They are without doubt one of the worst bunch of disingenuous directors on AIM

Jaf more or less covers but worth a read of this Tweet

If there is a ‘ naked short ‘ out there and we vote No they will have to buy back in the market

This is our only chance to stop the BoD, if we lose this vote we will languish at 4p to 5p for ever and a day whilst the BoD burn through the cash

There will be a number of ‘ new posters ‘ popping up saying back the BoD , these will be from the Bucket shop brokers who are being paid £400,000 by the BoD and from Spivs who have ‘ naked ‘ shorts

Vote No don’t let these conmen nick whatever last dregs of value is in your business

https://twitter.com/aimissionary/status/1494301151755489283?s=10

Agree, as you say it helps PI’s know how to use their vote with small caps like Omega and the like for the future.

Good post Jaf , sums it up perfectly

So we need at least 21% of the shares to beat the BoD otherwise the 80% get shafted yet again by this BoD

I know of a number of shareholders - in the real world not social media - who have voted No and sent direct via their broker to the Company registrar

Saying all that we need as many as possible to vote this down just in case and Vote No

To confirm, as per TW comment

It’s not to kick them out - voting No - it’s to stop them generating an additional 140M shares

Stas / Captain

As you say IF the BoD win then it’s all over for us shareholders, best chance we have is stop their plans

It’s a dog of a BoD and as Comp said yesterday it’s personal now, we have to make them focus on being productive with the products they manufacture not just raise money to pay their salaries.

Alternative is to roll over, think we say most shareholders are not going to do that