Member Info for SteveV

Just sounds like a very fudged Arbitration.

Did the Arbitration panel think FRR deserved to lose EVERYTHING, or just the 99% of very under utilized un-explored lands.

Did the Arbitration panel think it was fair that as a consequence of their ruling FRR would , after spending years of effort and Hundreds of £millions invested in the 1% prospective areas, be forced to give that up? (i.e. the areas where all the oil and gas is AND where FRR were not in ANY breach of !!!!)

What was the purpose of the GG Arbitration request? To get the 99% back?

But, if in winning that arbitration it also meant they could, rather unfairly, take back everything, was that their ulterior motive. Did the arbitration panel not consider this as a consequence of their verdict. Did they think it was justified?

Can't really argue if that is the case. Sounds like the end to me !!

Was there a time limit on the handing back of the 99% after which time FRR were in Material breach? So historically were shown to be in Breach?
Or, if there was no time limit, does handing back the 99% anytime now(post arbitration) mean that they are no longer in material breach.? And so there becomes no grounds for termination of the contract?

I think some investors have sold out having looked at the decline in Corona cases in the UK.
BUT I don't see the logic there. When the virus was rampant and killing thousands of people the the government clearly abandoned mass testing because it was just not possible to cope with the number of cases.
But NOW as things become more manageable testing comes into it's own. I think the strategy is to get the economy running again, and hammer down on any resurgence. Testing, tracking, tracing.
Testing is going to be crucial for an indefinite period. No wonder NCYT directors are buying and the CEO says..."...we expect strong cash generation to continue..."
Which aim company is generating £millions in cash every month and is set to continue?

Great, So we got no debt and circa 19million Euros in the bank.

AND...."we expect strong cash generation to continue"

It would be nice if they didn't muddy the waters combining sales and orders.
Would have been great to see monthly sales.
Hopefully in a months time we will get at least another guidance on total sales so we can calculate
what actual sales were for June.

Capt-Hindsight. YES you are reading that wrong.
£40 million total sales up until 1st June. (that is everything we have sold in all months)

Since the last update total sales and orders increase from £90 million to £120 million.
So that is an increase in orders of 30 million in one month !!!

So in TOTAL from day one to now we have sold £40 million, and got outstanding orders for 80 million.
We were ramping up production to crirca 10 million, so we currently have orders for 8 months worth of production.
(assuming they actually transpire and turn into sales). They arn't sales until the money is in the bank.

It could be that GG went into this whole thing with the intention to take back 100%
They clearly see the non return of the 99% as a material breach, and it says in the PSA this is grounds for termination of the PSA
The GG seem hell bent on this, but we don't seem to know right now if returning the 99% repairs the material breach so the PSA can't be terminated, OR, having made a material breach they ARE at liberty to terminate in any circumstance, if they choose to.

Surely someone should be asking the tribunal for clarification. i.e. was their intention in the ruling for FRR to simply hand back the 99%, or, in light of the PSA terms, hand back the entire block.
Would that not make the whole issue crystal clear.?

This is a brand new market. Valuations are all over the place because revenues could be huge.
Various companies are jostling for position. At the moment we are still in the growth phase.
Eventually, or possibly quite soon, we will enter the shake out phase when some companies will start to decline.
The main driver then moves from potential, to who is actually making money and taking advantage of the opportunity.
Right now, as far as I can see, NCYT is the only small cap that is actually monetising their product, which is set continue and to generate huge revenues for them.
Follow the money...!

Egypt has a population of 98 Million. UK 66million. UK is doing over 100,000 tests per day.
40,000 tests only for Egypt is a drop in the ocean. It says KITS...got to be kits.

Antibody testing will be a very valuable tool in the fight.
Thing is though we moved away from the "herd immunity" model. Currently only 5% of UK have had the virus.
So right now antibody testing isn't going to get everything back to normal because so few of us have had it.
Antigen testing is still the most crucial tool in my opinion. (as part of the track and trace to keep the R value under 1)

Yes, but it is a shame we are left in so much doubt.
My understanding of the current situation is that:
FRR's position is. Fine we are happy(ish) to hand back the 99% and keep the 1% jewel in the crown so we can develop/sell it.
GG's position is: You breached the terms of the PSA so we want EVERYTHING back.

It would have been helpful if the Arbitration had made it explicit as which outcome is what they intended. Or is that not there remit?

Quite agree with that. Even when there is no news and a lull in buys/sells MM's are still trying to create a market.
They know there will probably be demand if the price drops AND also know alot of pi's set a stop loss.
So it's not rocket science to work the price down to the stop losses and renewed demand to buy at lower levels, so that they can match buyers with sellers.

Gonna need an arbitration of the arbitration at this rate !!!?

He has just said 200k by the end of May and MORE thereafter !!

I should think when we get the forward statement in the results we will get a very positive guidance on pipeline of demand for the foreseable future.

If you are self employed you can apply for the 80% grant (max £2500 per month) BUT only if you have tax returns for 2018/19
and prior. AND those returns show gross profit of less that £50k. per year.

Failing that you can apply for universal credit for which they will ask(amongst other questions) how much you earned in EACH of the last 12 months.

Does anyone know if the terms of the placing lock in the ii's for any period of time, or can they sell them at will on the 28th May?

So if the French government get their finger out and place an order we could be supplying 9-10 million tests by the June just to UK and France.!!

Have to ramp up production AGAIN, to supply the rest of the world. !!!!

I think the traders have gone to pastures new and steady money is coming in from ii's who can see the value. This share is no longer a speculative punt but a solid investment.