Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Generally I would not trust anybody who posts on anonymous bb. On the lse site there is one who has proved the exception to this rule as he usually picks winners and tellingly does not post here . Anybody who is 90% down having held over the last two years, based on the jam tomorrow bs from various well renumerated mediocrities, has every right to vent a little spleen. It is those who display eqanimity in the face of such value destruction that arouse my suspicion.
One reason trotted out by Wakefield for zoom agms is that a uk meeting would be a snub to french shareholders who are in the majority here. Afaic the meeting should be held in France and online to the rest of us. Most of the responses to company tweets are from the french these days anyway; they are better at protesting than we are, less deferential to authority and that applies double if les rosbifs are involved. I can think of nobody more deserving of a roasting that the gaslighting private equity lackeys heading this company. Precisely why we are treated to yet another remote agm. Cowardice indeed. Wakefield must be up for election this year and I advise all holders to vote against.
James Wakefield has certainly demonstrated an ability to fire people. What else he does for shareholders, as their representative on the board, is less obvious though he did hire DA in the first place. I would suggest that the latter's failure is in large part JW's as well. Maybe this site tenacious "banker" should fire himself.
Harcris, you have often compared sourcebio to nova and for once it may be apposite to do so. The former have have reported that they do not expect significant revenues from covid products in the future based on the received wisdom shared by the market, and DA clearly, that covid, if not over, is no longer going to result in high demand for tests. That is the consensus. The question is, if demand does increase significantly will novacyt's much heralded (by DA at any rate) "agility" be found wanting?
You could sue Mullis but would need deep pockets. The Mullis ltip is an internal company affair and perhaps raises governance issues; better off organising an egm, you'd get my votes. Pretty well his last act as ceo was to attend an agm where he airily assured shs that non covid revenues would replace covid ones as the latter declined. He produced no evidence to support this as we have since found out there was none to provide. This display was mirrored by the man sitting next to him who wore the smug expression and practiced the drawling, faintly bored, patronising speech of the complicit placeman. He is our chairman and a real entitled banker. A man who I suspect is well versed in all the aim tricks that "manage shs expectations" which amounts to gaslighting them with assorted bull, blatant lies and whatever game he's got going on rather than doing what he's paid for. Unless he can prove his contribution goes beyond being a dysfunctional embodiment of the colluding and the ineffectual and of course chairing one soporific meeting a year, he SHOULD be replaced with someone who can, preferably with experience compatible with company growth. This company needs to find a niche that has constant high demand for products that it can and could produce and management that can make the decisions to facilitate this.
Waiting for another pandemic is not a viable business model.
If legal messed up they should be fired but a ceo is always ultimately responsible. His bonus being watertight is salt in the wound and worthy of comment considering the context. The "second man" is Ajan reginald... like many on this board, you clearly don't like to use his name. google him and you will find out why. The company "resigned" him on publication of the PE article. They did not sue PE or defend themselves in public in any way afaics. I think that the lack of positive PR from this company, at the very least a renaissance narrative has been conspicuous in its absence and allowed the continued erosion in sales because some people aren't doing their jobs. It has also damaged the internal working culture.
6000%? You would have to trawl through a lot of abuse on twitter to find that particular page.
"...what did mr mullis do wrong?"
He didnt make the contract with the DHSC as watertight as the one HE had with the company (with particular emphasis on his LTIP) and he hired ajan reginald. Those would be the two main ones.
As a consequence this company has suffered reputational damage which I believe has impacted sales. gm exited leaving others to sort it out, which they didn't. The chairman, whose role is outward facing and the shareholder's rep on the board is particularly culpable in this failure. Unless he is lining up some marvellous MA deal as I write he really should be considering his position.
Also I take it as axiomatic that nobody knows truely the motives of any poster on these boards unless they're arguing with one of their own avatars or posting from the same room as the other. Positivity has proved to be an extremely toxic virtue with this share, as is so often the case.
The presentation will likely result in new lows over the coming days until god knows when something positive happens with this benighted company. This might explain the almost unanimous negativity from everyone today. I don't see any particular benefit in singling out one poster from what has been a chorus of disapproval.
So glad you're happy mostin and caveman, why don't you sling your neolithic club over to the sfor board?
So instead of green shoots we get a greater projected fall in revenues or another profit warning if you like and I don't. The 'meh'nagement have lied through their teeth here and somebody needs to go. From a shareholder's perspective this company could operate more effectively as a cash shell than an "agile first responder" in the diagnostic space at present.
There is an important difference between perpetrating fraud and being a fraud. The accusation that the management are charlatans has been made more than once by many posters; it may now even represent a consensus. We must hope it is proved untrue and preferably soon.
The days of comparing novacyt and sourcebio went out with the covid tide. Even during the heights of omicron novacyt came second best to sbi which increased revenue beyond their own expectations while novacyt did not. The main difference is sourcebio's core business is non covid, in constant demand from the nhs and doing great. As we all know this cannot be said for ncyt despite the assurances made by wakefield and mullis at the 2021 agm that non- covid sales would rise as the covid ones fell thereby achieving the revenue projections that kept (some) shareholders invested in this disappointing company. I wonder how many of those shs, who probably weren't even invested in 2021 and voted yes to everything the bod asked for at this years yawnfest of eyewash, are still holding now? I am left hoping, despite appearances to the contary, that the company is going to use it's covid bounty to achieve an improvement in it's reputation and not just to finance a managed decline of complacent renumerated indifference.