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@Kaeren, spot on, agree with everything you have said, what I've said about the dispute is pure conjecture on my part, I know no more than any poster on here.
I think there is a troublesome clause in the contract though, I'm not quoting verbatim and I really cba looking now but it states that the original contract was for supply of exsig or any subsequent improved products.
In my view Novacyt have done nothing wrong, they supplied what was ordered and delivered it.
They then developed a superior, easier to use product, promate, which again was duly despatched and indeed used and more has subsequently been ordered, so it clearly works. I suspect Novacyt wanted paying for the initial promate replacement, DHSC will argue that it was an improved product and should be covered under the original contract. Again pure speculation on my part. The last time I posted this my post was deleted, so fully expecting the same with this.

@monkey, at current levels of testing not very long, definitely less than 6 months

Correct Neil, however they had been signed off as fit for purpose by DHSC after evaluation. However, in the stark reality of a busy nhs microbiology lab, they were found to be impractical, hence the development of promate, problem solved

There's absolutely nothing wrong with both Promate and the Q machines, working well and now well embedded. Not sure i would say the same for the originally supplied exsig kits which is where I personally believe the root cause of the dispute lies

@B2H I thought it was a missed opportunity.
They could have announced 2ith a bit of fanfare their new products esp co prep. Even tried to arrange a plenary session to show off their wares.
World press there, lots of influential players in the market there.
Instead we release a RNS, fair enough has to be done, and a fcking tweet.
Does their marketing have a budget, chuffing hopeless

@Steve, given that they are in Atlanta currently, I would have used that platform to announce the new development. I'm not sure of the format of that event but personally, as you ask, I would have tried to get a plenary session there to announce it.
World press would be there, lots of coverage, chance for Q&A and basically sell Novacyt.
Releasing new developments thru RNS or social media is really, really poor.
I've worked in this field for decades, yes, I used to be a lab rat but I moved on long ago.
Marketing and promotion is a learned skill. When you work for someone and you believe in their products, its your job to convey that belief and enthusiasm to a wide audience, be willing to take questions.
Novacyt seem to be so niave in this area.
I always focused on the product I was promoting, comparing and referring to competitor's products was a definite no no

After reading through this properly it does give me some hope and actually reminds me of why I invested.
What they have announced in terms of new R&D is again outstanding.
This is what I find so frustrating, they are so good at what they do, they are just really poor at communicating it.
I may have been a little outspoken earlier but I'm just frustrated by it all as I know how good their products are, how agile they are in responding to new challenges and yet we see the SP tank. Anyone with an inkling of what this company actually does, would immediately recognise the significance of these developments, yet the SP tanks again as the word delay was mentioned.
I hope with DA due to take over soon I'm hoping for a change. Their products and R&D are world leading, they should be shouting this from the rooftops

Damn and blast you Steve, you've rumbled me guv, thats exactly what I'm doing and would have gotten away with it, if it wasn't for your pesky insight.
Yes, I post on here, day in day out about the failings of the management team, you clearly know me so well

Steve, Steve calm yourself, you are clearly someone else very familiar on this BB purporting now to be someone else but let's put that to one side.
For clarification, I believe the fundamentals of this company to be incredible. I have consistently said both how good they are at what they do, how good their products are, how well they are liked by those using them on the front line and finally the depth and breadth of new potential markets are for Novacyt are.
That's not what I would regard as continually and publicly bashing the company.
What I am a little miffed about, seemingly a few others agree, is the management of said company.
With Mr Mullis departing I'm hoping for a better tomorrow.
In terms of averaging down, that would assume one has sufficient funds to throw good money after bad, I'd rather not thanks atm.

As I've stated many times on here before the R&D capability of this company is second to none, I've stated that several times in the past and I still stand by that, it was the main reason I invested at the beginning of the year.
However, the business acumen over the course of the last 8 months from Novacyt doesn't match their technical ability and we've seen the share price crash during that time, despite them being one of the best in their actual field. So something isn't right and its not their R&D.
So many of us are so far underwater that their is literally no point now in selling.
The fundamentals of this company are still rock solid, so we hold. But I think its not unfair to say collectively we are all sick to the back teeth of the management, the final straw for me was the fact that GM is swanning off with a mahoosive payoff at a time when the company seems to be in complete disarray esp wrt the DHSC fiasco, it sticks in my craw.
Unless a resolution to DHSC is announced prior to, or at the AGM then I think the level of that payout is obscene.
What are SH to do, sit idly by and say everything is rosy and continue to be treated as complicit fools. We are annoyed and angry after seeing hard won cash whittled away needlessly. Atrociously worded RNS's that nearly always result in a fall in SP, a radical change of approach is required from senior management if things are to improve

Apologies didn't mean to start a new thread, not sure how that happened

@kaeren none of this adds up, it simply doesn't make sense to me (The situation, not you I hasten to add). If they were developing Promate at that time knowing that DHSC wanted it, then why did they distribute vast quantities of exsig to the NHS, well after these dates, then after it was roundly rejected, it was left sat on pallets for months before being sent back and replaced with PROmate.
The logic behind this baffles me.
Totally cheesed off with the whole situation now.

@Hill yes I had assumed that, hope that you are correct at least they don't need controlled storage and don't expire.

Is there a breakdown anywhere as to what that inventory is ?
Seems an inordinate amount to have, the storage alone of it (probably needing to be refrigerated) must be a logistical and very expensive nightmare.
Not sure if they have detailed the inventory down to that level

@troublesome your being very optimistic today

You can't treat SH with complete apathy and disrespect and then be surprised when something like this happens.

@B2H, thanks i had missed this, and its rather a big miss, there's so much crap posted on here about other posters, past and present, important stuff gets missed. This has brightend my mood a touch, I for one know how important this is, stuff like this should be shouted from the rooftops, why are we scrabbling around finding out info in this way, the marketing department seemingly doesn't have a scooby doo. Thanks for the info

@B2H, I see what your saying but even if everyone knows that they are completely untrustworthy they are the ones with the big bags of cash, peoples principles soon disappear when they are dumped on the table, so I stand by my original comments, suppliers have much more to lose as they can be frozen out, DHSC not so much

@Wilson it's not just that to be fair.
They have literally pi $$ed away all their early deveoper advantage with this DHSC fiasco.
They have now tarnished their reputation as an agreement cannot be reached. Even though they may be "right" and DHSC are equally to blame, look at the damage that's been done. We have now effectively written the whole disputed value off anyway.
Anything we get back will be a bonus and it will be a pyrrhic victory. We are the biggest losers whatever the outcome, the DHSC doesn't need to uphold a reputation, we do.
The fact that a mutually acceptable resolution couldn't be reached quickly shows a certain degree of naivety on GMs part and didn't take into account the bigger long term picture.
Even sucking up pride and taking a big hit early on would have meant this would have been finished 6 months ago. Novacyt are not an established or big enough player yet to start leveraging pressure on DHSC.
I'm stuck here now and holding come what may. Just having a bad day, I now have zero expectation here

@kaeren unless novacyt develop a promate version of winterplex its going to suffer the same fate as the original exsig genesig covid tests for EXACTLY the same reason. I would have thought that they would have learned by now. There are already other suppliers with an equivalent test on other platforms that are easier to use.
I honestly now wish I'd never heard of novacyt and primerdesign.