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"Could it be ODX need working capital to be able to supply LFT's to the US market."

They are getting out of the covid business, they've agreed to sell their primary LFT manufacturing plant. They do have a deal in place for the new buyer to make their lfts, but as I said before, if you don't own the IP, and you don't manufacture the test, exactly how much profit can there be ?

why spend £5M when its for sale for £1M ?

As a Reminder:-

Exactly 1 year ago to the day
Jag Grewal, exercised 210,000 shares @ an average of 87.28. As a recall the exercise price was around 20p or so. So lets say a 65p profit on 210,000 shares =£136,500 profit

Jeremy Millard exercised 166,000 shares of the same day, £108,000 profit on the same basis as above.

Jag's comittment to the fund raise according to the earlier post is £22,618.
Simon's is £20,000

So a combined profit of over £200K, AND also acquiring nearly three times as many shares as they sold a year earlier.
Plus salaries.

Who needs to sell tests ?

Their "stand" appeared to comprise of a pop-up display that was perched on the corner of someone elses stand, the content of which was purely relating to the food intolerance stuff.

one assumes the DAM outlets are already starting to see a major down turn, just some international travel and some that need testing for specific requirements left now. I also saw that as a pop-up network anyway.

let me rephrase

"I guess the question shareholders need to ask themselves is, if ODX announced the fund raise that they announced was off as it was not accepted by shareholders, would the SP increase or decrease ?"

I guess the question shareholders need to ask themselves is, if ODX announced the fund raise was off, would the SP increase or decrease ?

I'm all for cancelling the directors gravy train, i.e. recind options require directors to partake meaningfully in the money raise, to show they have faith in their own strategy, and that it isn't simply a way to extend their salary. Whether or not options can actually be recinded, I don't know.

But whilst "Replace Jag,Replace chairman", sounds wonderful, that doesn't stand up
1) who in the company is going to do the interview process if both the CEO and the chairman are gone, you can hardly expect them to positively look for replacements for themselves.
2)Who of any calibre and in their right mind are going to walk into those positions, knowing the cash is running out in a few months, knowing there is a £2.5M potential repayable, knowing how little trust the shareholders have of board decisions, and knowing that shareholders just blocked a fundraise.

You can have a wishlist all you want, but unless it's back with some logic, it is just fanciful thinking.

Muscle memory brought be back on here, as for the first time in a couple of years, I hold no ODX.

well done JafTrade

marik
"Not only that, nothing has changed apart from CK leaving."

Which, following you logic, means your £275M buyout much still be on the cards ?

just looked it up
DEC 2020.
"he Company has successfully raised GBP22 million (before expenses) by way of a placing of 22,916,666 ordinary shares of 0.025 pence each ("Ordinary Shares") with institutional investors at a price of 96.0 pence per Ordinary Share (the "Placing Price")"

Don't know if those IIs got out long ago or not, but those that stayed have lost the majority of their investment at the current price.

"1/ 5p placing shares taken up by institutional investors and wealth funds who will want imo at least a doubling of return before even thinking about letting any shares go"

Well I can see the thinking, and on the basis that they are certainly a lot smarter and much more experienced that me, you'd have to assume they know what they are doing. However, one might same the same about the institutional investors that took part in the IPO of ABDX (what was 90+ ??, something like that.), which is now at 14p.

The scenarios are quite different, ABDX at the time of that fundraise was going to be another covid darling, whereas ODX is now going thru a really messy covid divorce.

However, I am purely making the point that Institutional investors backing a fundraise is not of itself categorical assurance that the SP will improve.

I think I can say with some assurance that quite literally not one person is interested.

I wonder are they ultimately going to turn into something like Biosure, a dozen of so people in total, get your tech here, get your manufacturing there, and just be marketing and sales.

In which case they need someone that does marketing and sales, as the current lot don't.

What about the great hope of the RTC antibody. Who now has the rights to the 20% of all orders, given ODX is no longer an LFT manufacturer.

Remember back in July, the 3 countries that were right on the cusp just waiting for final certification, and then the orders would be significant.

Its always appreciated by those that have just confirmed they've lost a packet, when some smarta*se comes along and decides this is the time he is going to join LSE, make his first post, and tell everyone how smart he was compared to them.

I bailed yesterday as soon as I saw the confirmation (also known as the Marik rumour).

I'd like to recoup some here at some point if I thought there would be an upswing, but I don't see the plan as yet providing that.

I'm guessing "only half way thru the pandemic" regulator is suddenly too busy again booking holidays. He popped in recently to correct some minutiae about USFDA v FDA, but not a peep on the fundraising, or the fire sale of Alva.

Anyhow it'll be all, nothing to see here, investing is for the long term, he was always in it for the food stuff anyway...you know...the usual crap.

"I've seen a lot of bad shows on AIM over many years, but this takes the biscuit."

Dunno about biscuits, but the evidence suggests the cheese slipped of your cracker some time ago.

How much profit is in an LFT (should they actually ever sell one), when you don't own the IP, and you don't manufacture the test ?

I'm over £40K down