Member Info for RiskIsReward

The company needs cash injection till they become positive cash flow..
high Cash burn of 6m per year with extra sales team employed and we only had 12m cash run away..
The company has to generate 12m revenue assuming we operate on 50% margin otherwise we are looking for a another fund raise again..
Everything is in public domain with last RNS, so make your own investment case.
Secondly in regards with IP I don’t think we have anything unique apart from AIHL to be a buy out target. The current MCap and sp is justified and don’t be surprised if it goes lower..

It is sad and hurts but it is fact..

I’m very skeptic on POC success because we are too late to market..
The main reason is recent success of LFT which is now widely accepted by most countries.Can anyone list possible customers who would prefer clinical use LAMP POC over easy self test LFT device?
I hope DB proves me wrong and comes up with approvals and contracts soon..

Is available on investor meet website, please read through them if you’re interested

https://www.investormeetcompany.com/investor/company/genedrive-plc#archived

Rool out is commencing soon.. Cash in bank to support the rollout.

genedrive is now commencing its roll out of the Genedrive MT-RNR1 IC Kit in partnership with Inspiration Healthcare plc as its distributor in the UK and Ireland, and is expecting its first sales in autumn 2021. The Company estimates the total addressable market in the UK and EU at around £35m and has recently raised funds to support its commercial activities to drive sales and exploit thus attractive market.

GLAH

IMO - the open offer would get fully subscribed because Budd has not left much choice for shareholders. With that the total number of shares would be 105m, at 25p the Mcap would be 26.25m. The total proceeds and current balance should be good enough to run the company for atleast 2 years. Our running costs are going to go up with the new sales team joining. to support all this we need to generate a revenue of atleast 12m expecting we operate on 50% margin.

Now if we take a look at the future revenue streams, only two products that could generate revenue is DOD and AIHL. It would take good 18 to 24 months for the all 180 sites to adopt aihl and DOD approximately 1.5m to 2m a year which is around 7.5 to 10m for 5 years. These both are funded and researched for years and driven by the adaptors and hence i wouldn't attribute any sales succcess to Budd.

The potential other revenue could be from below, but keeping in mind DB's past performance what are the chances that Budd would generate revenue in next 2 years?
AIHL EU sales
AIHL US FDA and sales
Fixing HCV issue and getting sales back on
PCR sales
POC sales

How likely is that we are going to generate 12m in revenue in 18 months time without going for another placing?

I did not sell on Friday, now after carefully reading the RNS and weighing everything I have decided to exit next week and look elsewhere. It was frustrating 18 months investing in GDR and the risk didn't pay off.

GLAH

My take on this is, Budd must have told his mates whats coming in 6 to 12 months time, would certainly release some positive news and let them exist for a good 50 percent profit. similar to what he did after last placing..

Proposed fundraising got filled with in few hours.. this is called classic AIM mates rates..

The Company has a distribution agreement with Beckman in the USA and EU however the lack of EUA has proven to be an unsurmountable hurdle in the primary market, and levels of PCR testing have been declining in many key markets. genedrive also has distributors for the product in Africa, India and Asia. Total sales to 30 June 2021 were £0.3 million. The Company is aware that vaccine roll-out is reducing testing requirements of central labs especially in the US, but notes small pockets of demand still exist across various geographies, and screening opportunities may present over time. Finally, the European Ministry of Health opportunity potentially for low double digit millions of pounds sterling (which the Company first announced in November 2020) is considered to be increasingly less likely as time progresses, but still remains a live prospect as far as the Company is aware.

I raised plenty of times the question why the hell Budd decided to develope PCR assay when we were primarily a POC diagnostics company. should have focussed on POC from day one..DB was greedy like PI's aiming fro top bill from BC and US..Failed miserably here.

It is complete new design, it is not a handheld one anymore it is a bench top.
from the image it looks like the machine has a built in printer .

Here is the link to new genedrive instrument:
https://www.genedrive.com/genedrive-system/genedrive-system.php

The new version has loads of new features:
Large 7 inch screen
RFID catridge to detect expired ones.

maxplus - I’m not a deramper. I have my reasons why i think DB is a failure.
DB prioritised PCR kit and spent all his time and money to validate the test with BC and setup the. Distribution agreement is which is great but being a point of care diagnostics company he completely ignored the POC launch and delayed it by 6 months. He probably had rationale and market drivers behind his decision but what did achieve since our kit was CE marked or received SA approval.
Now he is hiding and complete silence, what happened to kick off? Where is trading update and where is EU deal?

I reiterate again we need a revenue of £9.6m assuming we are operating on 50% margin to break even.
What is our revenue for the financial year 2020-2021?
What is guidance for future?
Now you know why we are here at 40p, Don’t need count every penny in our pocket, we just need sales and revenue.
He has massive sales experience but sold FA in a pandemic, so stop ramping and justifying DB failures. He had failed miserably and needs to go.
I still believe in company and has a substantial holding here and that is why I want company to be in good hands.

Firstly, On beckman website it states Genedrive kit is only for research use only.
https://www.beckman.com/reagents/genomic/viral-detection/genedrive-96-sars-cov-2/c73254
"US EUA: Validation of this test has not been reviewed by FDA. Review under the EUA program is pending. For In Vitro Diagnostic (IVD) Use. Rx Only"
Why does the site doesn't outline the section IV.C of the FDA's policy. So that everyone knows we are allowed to sell to CLIA certified labs. why would any lab purchase with such a disclaimer?

Secondly, All three versions talk nothing about the Biomek i7 and high throughput it can acheive, it simply says time to result is 100 to 119 minutes. doesn't boldly display the hightrough stats of 1000 tets per 7.5 hour shift

The november RNS also stated:
At year end over £1.0m of initial orders for Genedrive® 96 SARS-CoV-2 kit, pending regulatory approvals

Pipeline includes an advanced opportunity for supply to a Ministry of Health of a European country, which if converted to a sale, could be for low double digit millions of pounds and delivered in the first quarter of 2021

What happened to these??

Same November RNS stated - "Genedrive® SARS-CoV-2 Kit for Point of Care demonstrates positive results from saliva in approximately 15 minutes. Development remains on track with launch anticipated in March 2021"

But everyone know what happened to POC.

If BC knew the approval would take this long, they would have made their own pcr test and submitted it. Plenty of manufacturers developed one and BC has experience and resources to make one too. They just went for us because it is ready made and already submitted to FDA
IMHO - the partnership did not go as they expected, if they were to acquire there are plenty other companies which can fit their strategy.
Take over talk is BS

Why would EU deal taking so long to conclude. Are they using same old test provider for last nine months and happy with them..
IMHO - Looks like we are back up test provider to increase mass testing capacity if there is going to be an another wave.. which is very unlikely from what it looks like. this deal is dead to be..

Which EU deal?
Is this the imaginary deal that Budd announced to let his II’s out.. haha

Yes you’re correct, the POC machine is configured to run one assay at a time and needs reconfigure to run a different one.
You can ask this question through genedrive contact us page to know more.

As per cash burn rate of £400k per month, we need 4.8m per year to run the company. To break even and become profitable we need more than 9.6m revenue assuming we operate with 50% margin.