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At best the Omega BOD have misrepresented the facts, directors sold shares alongside the tweets going out - the marketing director especially

The BOD then had to keep the story going in the hope HUA would come off but they ran out of runway - interims came along

Colin can’t be trusted / neither can their social media
it’s RNS only we can have any comfort of note as this is run past their NOMAD to clear, rather than an employee who types out the blurb the Board have sent to tweet out.

Harvey
It does get the the Chinese around the on shoring aspect
could be any of the Chinese tests/ companies that have passed Porton Down ?

Ticks a box for the Government same time

But Omega were never going to submit an application in their name, they knew that important point and relative cost when the posted the Tweet below

Who has actually submitted the USA application?
On one hand they say Mologic in some tweets then on the other Omega ?

Again smoke & mirror Tweets, without doubt they have misrepresented their position

https://twitter.com/omega_odx/status/1438087238596825089?s=10

‘As our followers already know, we currently have a US Food and Drug Administration submission in progress, and remain confident of a positive outcome.

Such an outcome would have a fundamental effect on our business.

#COVID19 | #ODX
twitter.com/OmegaDiagnosti…

Harvey

A Chinese operator may think Omega is decent bolt on ?
We have Food tolerance HUA in China , with 120M diabetics in China ( 1 in 10 people ) coupled with other western diseases becoming prevalent over there, taking the view we are told we are the only diagnostic co with Chinese HUA? The Health & Nutrition element could generate £10M this year and that’s with a poor sales team at head office
and probably a very low marketing budget.

China is also investing heavily in Africa -$5 to every $1 from USA , Global Health division has a £value and enjoys WHO HIV accreditation etc

Then we have the capacity/ skill base to produce 100M a year LFT’s ,it’s all in place with £17M of kit sitting idle

If we go back to the Government changes to LFT procurement, the Biotech used didn’t have to be U.K. based for a primary consideration for the future but on shoring manufacturing would be.

Of course Colin would never go for the above as he is on £200,000 a year and has give or take just 1 years salary in equity

A CE test is not quite ‘self test use ‘
It’s under the supervision of a professional

‘Positive dialogue with DHSC ‘

Choice of words on the 15/09/21 via a Tweet

Look at the wording for the EU CE self test , then review how they worded the USA CE test

Ditto they already knew DHSC was dead in the water when they posted the Tweet

#COVID19 testing:

?? Positive dialogue w/ DHSC 3rd parties advancing
?? Regulatory approval in US/CE marking for self-test use for VISITECT®? COVID-19 Antigen test will be transformative
?? European Notified Body reviewing CE mark for self-test use submission
?? #ODX AGM 2021

Big of a mute point considering the mess elsewhere

I wonder why Omega would say HUA for USA is out of the question as too expensive? It’s Mologic who are driving the USA accreditation not Omega

If Bill Gates thought there was a market / and Gravitas for Mologic to distribute in Africa by default of FDA approval then surely Mologic would just pay the fees ?

It’s pretty clear Omega have no interest in their name in the USA

https://twitter.com/omega_odx/status/1438087238596825089?s=10

Asher,

TW and I had some healthy debates, he shared/ posted some interesting data, we didn’t always agree - although let’s be fair here I was proved wrong, I took Colin at face value, hands up on that one

The point is that Colin has lost the trust of the shareholders whom are in the main PI’s and has to go.

I am not selling my shares in ODX but I won’t top up either not until Colin goes and we see the CV of the new CEO

TW , good point

I guess the issue is now did the ‘ new chairman ‘ know and was he complicit?

It’s a grey area , if he sacks Colin then we move on and take the view he didn’t know - you can see why the Chairman at the time resigned

Leaving Colin in situ ,this doesn’t go away
It doesn’t look likely we will be awarded a DHSC contract

The Chairman has to be strong here, Colin has to go,he dug a hole then kept digging at the same time knowing the DHSC contract was dead in the water

If we were in the USA there would be a class action against the Company but difficult to fund in the U.K.

Hence we need Colin out to move forward, there is no other way … or put the business up for sale

If our Chairman is ‘ reading the room ‘

Colin has proven to be out of his depth, he has over promised - via Tweets- and under delivered

You know what’s gone on, it’s time for Colin to go and bring on board a commercial operator before it’s too late, Colin is not the man.

Or …. Sell the company to an entity who can make the assets work, now is the time , it’s one or the other.

Simon
As Captain said, ‘ read the room’

They just can’t do it

Have the relaunch ready
Gain an approval - any one would do us, we don’t have 1 for the Antigen LFT as it stands today
Launch at this point

Don’t attempt a social media campaign to drive sales but you have nothing to sell ? Doesn’t make sense to me, if it was a one off we wouldn’t even be discussing but there is a pattern of how they operate.

‘yep the twitter handle is what they need to be worrying about and focussing on......really?’

Captain, we can’t actually manufacture anything of note at the moment, we don’t have an approved Antigen Test to sell - pains me to say - heavens knows why they would be rebranding/ launching at the moment, wait until we gain approvals at least ?

I do wonder who is making these calls?

No still here Sweetcorn , holding
V cheesed off though

The Alva plant must be like the ‘ Mary Celeste‘ today.

There is no commercial advantage to manufacturing LFT’s until HUA EU
At least 3 weeks away to know if LFT’s will be used for Travelling again

Almost switch off now until an RNS - ignore Tweets off Omega they are pointless in terms of understanding what’s really going on

We don’t need to use the Kit at the moment, we have no antigen LFT to actually sell - until we clear regulatory clearance

Simon,
Now that overnight the Test to travel day 2 LFT a market has disappeared I am not too sure what we can actually sell in the U.K.
even with CTDA ? Without U.K. HUA we have no market ?:

USA side looks a non starter ?
DHSC - enough said

EU HUA and fingers crossed Lansdown get them a European deal

That’s 2 big hurdles to jump after last nights U.K. Government announcement

Know we make our own luck in life but Omega must have a black Cat hanging out in their empty industrial units, they just can’t get a break.

TW, I thought that … Sod’s law.
Ditto USA CE - HUA looks out the question over there.

Back up EU HUA and hope Lansdown can pull a deal off to sell the test - as we now know Omega don’t have the capability to sell themselves they have to use consultants

Would be interesting to know what Lansdown percentage of the contract value actually is?

Nb should have added

If from April we could manufacture 2M week/ 100M a year then we actually sold at best 4hrs worth of production in a whole 6 month period - ok there are some other tests manufacturered but nothing of note

Good debate

I was personally hoodwinked via the Omega Tweets, it’s been a harsh lesson last week and I don’t trust anything they say other than in an RNS - and even then I require numbers / detail

Worth noting the marketing director at the time who must have been directing the Tweets, ramped the business massively then sold out at 90p plus and left the business, make your own mind up did he misrepresent the facts for his own personal gain? I gave Colin the benefit of doubt on that point.

I am holding on to my Omega shares, doubt I will top up, not until Colin and the Sales Director are sacked, they are just not good enough, Colin has lost the trust of the majority of shareholders, he should do the decent thing and resign or the Chairman sacks him.

Let’s not forget we enjoyed EU/UK CE , with £1.2M of Covid sales that’s maybe 125,000 Antigen LFT’s sold, appreciate some countries were giving them away but that’s all we sold at the top end , assuming £650k owed by Abingdon then total sales from their own team less than £600,000 @ say £5 a test - 125,000 LFT’s that’s it in 6 months

As I say Colin should go , it’s just not good enough.

Small comfort I know but if one thing has come out of this week is the Board pretty much now speaks as one voice

TW, Captain , took a bit of stick ,but they were proved correct.

Hopefully we can share information and have a decent forum.

Good luck moving forward

I don’t think anyone cares anymore - they can tweet what they want but it has no weight

Official contracts via an RNS with some detail of £value