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Share consolidation = Yikes !

As captain said, consolidation historically results in a devaluation of a holding, and with a fund raising just around the corner, further devaluation (if anyone thinks the prime mover for this is because there are too many shares in issue, they need a welfare check). I'm out of ODX a long time now, but seems the board has found a move that allows them another fund raise or too to keep their wages rolling in.

what a complete b*llocks of a company this is. If you are to believe the latest RNS, and that is far from a throwaway statement given ODX history of saying "stuff", they got bugger all orders for literally years, and now that they have some, no one planned beyond the end of their nose, and someone just figured out they actually can't make the things that they have sales for, in the timeline that was required. What confidence does that give these customers going forward that were brave enough to order from a company that had such a bad history. You wouldn't be falling over yourself to put in repeat orders when they can't meet initial timelines when they should be pulling out all the stops to get those first orders right.

A complete mismanagement from top to bottom, but they did manage one thing right, got enough money in the door to pay themselves and first order of business was slotting in some nice juicy share options. Strangely that part of the business always seems to run smooth with plenty of forward planning.

On 18 June 2021, he wrote: "Baroness Michelle Mone has sent me an extraordinarily aggressive email complaining that a company she's helping isn't getting the multi-million-pound contracts it deserves.

"She claims the firm, which makes lateral flow test kits, 'has had a dreadful time' trying to cut through red tape and demanded my 'urgent help' before it all comes out in the media.

"'I am going to blow this all wide open,' she threatened.'"

"Mr Han**** said he was told the tests had not won any contracts because they had not passed the standards required."

"the company was not PPE Medpro, which has been linked to Baroness Mone and won government contracts worth more than £200m."

Wonder was she speaking about ODX ?

"Matching Shares must NORMALLY be held in the SIP for a minimum holding period of 3 years and will USUALLY be forfeited if, during that period, the participant in question ceases employment or withdraws their corresponding Partnership Shares from the Plan. "

You'll note that the use of those 2 words, leaving it clear there are ways that neither of those stipulations apply, in which circumstances the owner has effectively bought shares at 2p each. In my opinion it is A vague RNS that is entirely in keeping with ODX.

And who are the first ones up for it ?, the very same directors who's first RNS after announcing the results of the fundraise was to award themselves big share options.

I've never filtered you...another assertion not based on fact or evidence, I see now why you like ODX's only remaining products :)

"You think too much sometimes and not enough the other times."

Calderkate speak for "I can't argue with anything you just posted, which includes links to respected medical websites, so I'll just insult you"

Atanasoff , you did indeed raise it initially, which is why I started looking around, as I had been considering such a test.

stxx...there is "science" in what they are doing. ie. it tests for certain types of antibodies that are triggered in the body by eating various things, but the bit of research I did suggests there are no validated peer-review studies that show there is any correlation between the presence of igg antibodies specific to a food type, and an intolerance to that food type.

And when you have the NHS telling you the results of the tests are not based on scientific evidence, and I think that says a lot.

I did a little bit of research, and various sites, including NHS websites says there is absolutely no scientific evidence that food intolerance testing kits are worth a damn.

In fact none of the systems are any good except excluding food types and see if it helps.

https://www.nhs.uk/conditions/food-intolerance/
"A number of companies produce food intolerance tests, but these tests are not based on scientific evidence and are not recommended by the British Dietary Association (BDA). "

https://www.bda.uk.com/resource/food-allergy-intolerance-testing.html
"There is currently no convincing evidence to support this test and it is not recommended as a diagnostic tool."

https://www.aaaai.org/tools-for-the-public/conditions-library/allergies/igg-food-test
"Due to the lack of evidence to support its use, many organizations, including the American Academy of Allergy, Asthma & Immunology and the Canadian Society of Allergy and Clinical Immunology have recommended against using IgG testing to diagnose food allergies or food intolerances / sensitivities."

So the above two bodies actually recommend you DON'T use them as a diagnostic tool.

So looks like ODX and its investors are pinning hopes on snake oil.

Joe head...meet sand.

In the entire covid fiasco, never heard this guy mentioned once in any news releases, or tech discussions. Is he new to the company ?

Anyhow, it's nice to see that he gets a few days in sunny middle east and escapes the UK autumn weather. Happens on monday, so I guess a Sat/Sun flight, speak on the monday and back on the tuesday for work on the wed. One assumes this journey at some level or other is designed to help ODX, and not just a jolly-up, one hopes it is more productive than the last middle east jolly up, which we never heard resulted in anything.

some random bod said "4 million is in the bag for part of the cd4 sale"

The company said "Whilst we have no visibility of the WHO pre-qualification requirements.......If the VISITECT(R) CD4 Advanced Disease test successfully meets all WHO pre-qualification requirements, it will continue to be made available for sale by Accubio and the Company will receive the full GBP4.0m of deferred consideratio"

Note the use of the word "IF"

Can the rampers explain why 2 months ago the £4M from Accubio was solely dependent on success of the Kenyan study with ZERO mention of WHO, and this month it is now conditional on WHO pre-qualification, with the company stating they have no idea what the criteria are for it.

What exactly was in the contract that they signed with Accubio, did it say the study had to have a successful outcome like they said, or did it say they had to meet WHO pre-qual.

Its not as if the signed contract suddenly changed.

Aug 2022
"Furthermore, the Company expects to receive up to an additional GBP4.0m for the intellectual property, which includes capitalised research and development expenditure, contingent on the successful outcome of an ongoing clinical study in Kenya which is anticipated to conclude in the Autumn"

Setting a clear expectation of £4M by the autumn (Autumn ends 30th Nov), with completion of the study the only proviso.

Today
"If the VISITECT(R) CD4 Advanced Disease test successfully meets all WHO pre-qualification requirements...and the Company will receive the full GBP4.0m of deferred consideration"

No timeline given, and now adding WHO's involvement as a proviso.

Hard to imagine anyone STILL believing an RNS that ODX puts out, after everything that's happened.

Between august and today, the trigger point for the release of the $4M has changed, and ODX is now saying it is dependent on WHO prequalification and that ODX has NO VISIBILITY as to what the WHO prequalification requirements are".

laughable.

"Don't forget that ODX has taken legal advice as to £2.5m owing and says that they don't owe that money"
Did they get this advice from the same place that resulted in the contract expiring without anyone from ODX knowing ?
Did they get this advice from the same place that told them the government was obligated to provide them with a test?

Are the people saying they have taken legal advice the same that in an August RNS year said:-

" Furthermore, the Company expects to receive up to an additional GBP4.0m........contingent on the successful outcome of an ongoing clinical study in Kenya which is anticipated to conclude in the Autumn."

Successful outcome of Study= $4M payment. No mention of WHO.

But today have now said that the $4M is triggered when ALL the WHO prequal is received and the favourable outcome is not the sole trigger of the $4M payment...oh, and did you miss the bit that said "Whilst we have no visibility of the WHO pre-qualification requirements....."

Perhaps the ODX board again did not read or fully understand the contract for sale they signed for CD4 ?

Also ODX informed the market that the extra payment was linked to favourable results from the Kenya tests. Now we are being told it is dependent of pre qualification by WHO. How come that’s the first time that has been stated, and it’s stated by a broker and not the company ?, or did I miss where the company mentioned WHO prequal as a release trigger for the money ?

No matter how many times the broker says TP 12p, the SP sits at less than 3p. It’s almost like no one believes them. Really must hurt a brokers credibility when the market has learned to ignore their notes.

Anomander, given that ODX have a prior relationship with DAM, its possible its the ODX test.

The ODX test says it tests for 222 food an drink antigens, the DAM website lists all the intolerances tested for and I counted 221, but I may have miscounted.

But is is indeed the validity of such tests that is more concerning.

I highlighted back in Feb that DAM were going to expand their offering. Bit obvious really, as with covid testing no longer required for the vast majority of travelling, they'd need to do something or otherwise close up. The guy that I spoke to at the time (when i was getting a test for USA travel) said that one of the avenues would be food intolerance testing.

So I see they now have a raft of testing available, both inclinic and home test. One such test is a food intolerance test on their website. Its £199, currently with the a 30% discount down to £139.

I have been thinking about getting such a test. The thing is, how do you know if there is any scientific value in such a test or its just a load of bull. Also, I wonder is there any chance that it is the ODX test ?

this ramper is so desperate he isn't even bothering to check basic facts.

"Odx did have a meteorite rise to 70 pence with a expectations of a rise to £1.00"

The fact is it went over £1 in that phase, you can't even be arsed to look at the chart before you head off on an ill-informed and mis-representative ramp ?