Member Info for SneakySimon

I don't get the impression that Colin has 'thrown in the towel on covid'

Its a change of approach - ODX will just manufacture (once they get approvals etc) and then supply to others (DAM for example) - essentially outsourcing the selling. Makes sense to me since they have not done great in that respect.

That leaves ODX to sell CD4 and food intolerance ...........

ex-banker is a new account and been spewing garbage for days

OG have confirmed earlier this week that it picks up Omnicron - most LFT should do as they focus on the N protein rather than the mutated S protein. Only test I know that is S protein is AVCT.

Don’t know about £17m but to move from 200k pw to 600k pw cost £2.3m based on the placing.

so 1.4m extra one the same costing would be about £8m unless I am missing something obvious?

Thought I would take a look at how that money was spent and how well the money was managed:

1. COVID-19 - ELISA Testing

Purchase of manufacturing equipment to scale up production
£1.1 million

COVID-19 - Lateral Flow Testing
Purchase of manufacturing equipment to scale up production
£3.0 million

VISITECT® CD4 Margin Improvement
Validation work on new raw materials and processes to lower the cost of goods for VISITECT® CD4
£0.4 million

Expand Lateral Flow Product Portfolio
Intention to develop two tests over medium term:
1) A test for Cryptococcal meningitis
2) A TB-LAM test to diagnose T.B. in people living with HIV

£2.7 million
Repayment of overdraft facility

£1.0 million
Working Capital Estimate

Mixed bag of success - not heard anything on the expansion of Lateral Flow offerings - where has that £2.7m gone?

L&G used to hold about 10% - they were busy selling down and only need to report down to 5%.

my concern is that Colin earns £200k - thats, after tax, £10k per month. What is his drive to make Covid to succeed? He can keep earning his £10k even if tmw he bins Covid tomorrow.

The Q&A last time took 3 weeks to be published so surely due this week? Based on the tone of the presentation, not looking forward to seeing the Q&A if I am honest - was really hoping for some positive new news to distract.......

Not a lawyer, but we are in a strong posittion as we have the money and the equipment, though we can’t use either until agreed an outcome - how long and expensive will that take?

contract has several grey areas - hopefully this will lead to some kind of amicable agreement, though how long this will take is anyones guess

Not sure the DHSC / Govt will want to appear to have ‘donated’ £17m of machinery to a company that then goes on to make millions of pounds of profit on the back of it - I can already hear Joylan getting his pants in a knot!

not too worried about the DHSC - concern now is that we are in a legal wrangle around the monies, while at the same time we have £17m of loaned equipment

- can we use it?
- will we have to pay for it?

What a mess calamity Colin has got into!

"Looks like they had another meeting after been called out"

Sorry, what does this mean?

Think of it as risk management - the key now is the test getting approval (HUA).

How confident are you we will get it?
If they don't get it, then what will happen - what will next drive the SP upwards?
Consider also if the approval takes another 1/ 2 / 3 months - what will happen then?

I have a holding a bit smaller, but it has taken a big hit on my PF and I am kicking myself for not managing this better, but we are where we are now - need to decide what to do and honestly, not 100% sure - I lean towards holding but daily drops of 5% - 10% is very painful and when you see no positive sentiment, then I question more and more continuing to hold.......

I will hold a few in my SIPP just to get their - really keen to vent my speen at Colin the toad.......

The only possible near term positive I can see is an update on the DHSC situation - but as we know they don't move quick so will have to see.

And obviously, it may not be a positive............

The way shareholders have been treated must be remembered and make sure voting is done to show the feelings. I hope this one is a face to face meeting, I am sure a lot of shareholders will be keen to meet face to face.........

I wouldn't say any of his replies were helpful tbh

He has been sending a few emails today - he responded to a friend of mine about the DHSC situation and that ODX were talking to DHSC about usage of the machinery.

exactly - even on Friday, they tweeted that "ODX still has access to the govt machinery" yet today Paul states that ODX are still discussing it - you would think they would learn!

TBH, its had 'staggering potentuial' all year - the issue is they have, for one reason and another not harnessed any of the opportunities as yet.

Our transformational year really has not delivered much at all and in the short term, not likely to deliver too much more if I am honest.....

Approvals we have no idea on.

CTDA is almost a month since we got an update and been barely a handful come through for approval so far - must be 100's of tests out their still to be assessed so not holding my breath that will come soon.

EU approval - god knows!!