Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
You are correct to spot my frustration Wilson.
After holding for over a year the current sp is a frustration. I have sold half my holding at breakeven to derisk. Yes I believe in Nova but the market doesn't and the valuation is crazy. But I had to derisk.
Like many of us I'm sure we expected an investment to be 3-6 months that turned into over a year which is too long when for many it has been a significant % of our portfolios.
For me it was 75% it's now 35% or so which is much more comfortable (even though I know selling at a fiver was too low. and hopefully I regret those sales in the future!)
Or maybe we have vast amounts of excess stock and are trying to get some publicity out of it to gain some value.
Clearly a great donation from Nova but would this be done if production was maxed out to fulfill orders, I doubt it
Or maybe we have vast amounts of excess stock and are trying to get some publicity out of it to gain some value.
Clearly a great donation from Nova but would this be done if production was maxed out to fulfill orders, I doubt it
So just confirms again that the DHSC issue could have a material affect on 2020 results.
Have to say I'm astounded as this for me can only mean 1 of 2 things.
1 Major **** up on revenue recognition and 2020 revenue included DHSC sales where the service had not been provided, or DHSC believe tests have been delivered on a use or return basis
2 There is a quality/specification issue on the tests we have supplied and DHSC want a refund
Can't see it being #2 so that leaves a basic accounting revenue recognition issue which for a contracts based business is very very poor.
At 1015am a buy went through at a cost of 7.29 even though all other transactions today have been just under £7
There are 2 transactions above £7 that are out of step with everything else around it.
Anyone know why this happens?
There are always ways and means to move items between financial years without fear of losing your professional accountant status.
Provisions are ultimately a judgement. All that would need to happen would be for the management to flag a concern around the delivery timeliness and utilisation of testing kit over the Christmas period and low and behold some 2020 revenue falls into 2021.
Yes the auditors test the period before and after a year end but they also look at materiality and prudence.
And yes I have produced statutory accounts and yes I have worked with pwc/KPMG through many year end audits. And yes I take my accounting ethics very seriously.
I guess we will know in a month or so when the full year results are out. Whatever the number it does look like we have a huge reliance on one customer. It will be well over 50% whatever the numbers.
OK thats not comfortable. But it is if you have a long term contract with a guaranteed volume. Roll on phase 2! Get that secure bank that as a new baseline and get the new growing sales force out there.
Of course there is always a chance the £92m paid in Nov was a catch up and that the focus was fulfilment and not invoicing/payments. If so that would drop the last 2 months of 2020 invoicing and reduce that huge % of sales that are from DHSC.
Yes its payments made, so we know £126m of payments made Sept to Nov likely for usage August to Oct with standard payment terms.
The £92m in Nov will likely relate to Oct. So could well see another £92m paid in Dec for Nov and ok a drop off to say maybe £40m paid in Jan for Dec
If those numbers are anything like that means £258m for the DHSC out if a total 2020 revenue of c£280m, over 90%
Even if I have over egged it we still have at least 70-80% of our revenue with one customer.
But this was positive view not a worry about our reliance on one customer!
Anyone else starting to feel more positive the last month or so after months of misery!
We've been on a gradual downward spiral since 2020 results dropped and the traders didn't get their quick 50% return.
We have actually seen a few positive days and ok they fall back but they always will as we know we have resistance all the way up to £12 (if only!)
The PR is improving, we know we have a continuing strong relationship with the DHSC and the innovation continues to roll out.
We know we have a major concern that pretty much all of 2020 sales appear to be tied to one customer. And yes if they pull the plug we are in trouble. But fingers crossed that doesn't seem to be likely with the sheer volume of recruitment noting the NHS. So if we secure a medium term deal or even just regular orders with the DHSC we have the rest of the world to penetrate this year.
I expect 2021 sales will outstrip 2020 and if so does that start to give the market some confidence of longevity and a possible uplift of the PE ratio from its current ridiculous level.
Personally I can't see a takeover, we arent owning the market yet so won't be a big enough concern for the big boys. But I can see solid 2021 results and acquisitions for Novacyt that get us back to the £10 plus range
Great to see the RNS and hopefully it will at least stablise the share price.
But remember we have seen this before. New products haven't shifted the share price significantly only volumes and revenues.
But surely those volumes and revenues will follow in the coming months.
Very clear from Dr Susan Hopkins (Public Health England) they do not intend to use PCR to confirm LFT positives in school children at the moment.
The only used suggested was when they move to home LFT, to use PCR to confirm positive home LFT
From Larry
This mornings RNS has been modified :
?? Promate currently deployed accross the NHS and to international markets
??COVID-HT Direct uses pharyngeal swabs collected in viral transport media (without guanidine) and saline
Twitter link since the RNS isnt howing on here just yet
https://twitter.com/PrimerdesignLtd/status/1356499487980716032?s=19