Member Info for TWatcher

"Am I missing something / got this wrong ?"
ODX had consistently stated their weekly capacity, and had never previously broke it down into gov/their own. There had been strong indications that the gov financing was used to go from 1M to 2M, as ODX had the money in place to go to 1M themselves as outlined in the barchart from around Oct 2020 (it showed going above 1M would required funding).

Answering a question in the Q&A in nov, CK said the capacity was approx 1/3 split.
Listen to the audio response to question 70.

"ODX will NOT be paying that back to Govt, and certain not in a lump sum."

An amusing sentence, the second half of which introduces doubt to what was expressed with certainty at the start of it.

Interesting, you start the sentence by stating as a fact they are not paying it back....but by the time you get to the end of the sentence you are qualifying that by being certain that they won't pay it back in a lump sum

"You’re both wrong!!"
Nice use of the double exclamation mark...well done.

Don't bother to concern yourself with the fact that I never mentioned a timeframe in my response, Anybody that's been around more than 5 mins knows the ODX always expressed their theoretical capacity in terms of per week.

"Omega have kit for 2.6M LFT’s a month"

Where did you get this figure from? ODX's notionally maximum capacity was/is 2M, of which 660K is via their own machines.
It is not 2M+ 660K

Ah, it is certainly possible to have a dilution strategy to try to achieve it.
If they take in a few "mates" as investors and issue a massive wad of shares to them for cash, without offering existing shareholders on a pro-rata, or indeed if a large number of PIs don't have the stomach to take up an offering.

"Did not know that. that is a worry as it is not unheard of for company's to destroy their own value to enable a cheap buy out"

Understand you concern, but the I think it would be extremely difficult to do that with ODX, as there are virtually no institutional holders, so they have to convince a relative horde of PIs to sell up to get to the compulsory purchase level (90% ?)

porton down continue to add tests to its phase 3a list, adding 4 in December, and a nasal pen device in Jan. The list now extends to some 50 tests:-
https://www.gov.uk/government/publications/assessment-and-procurement-of-coronavirus-covid-19-tests/outcome-of-the-evaluation-of-rapid-diagnostic-assays-for-specific-sars-cov-2-antigens-lateral-flow-devices

Its my understanding that being on the list is a pre-requisite to being selected by DHSC. However out of the 50 on the list, the only ones that we are aware of being used in bulk are Innova, Orient Gene and Surescreen.

So is getting on this list really all that big of a thing anymore ? At a time we were waiting to get on the list as the starting gun of the contract to turn into orders, so it was extremely important then. It would only be important now for ODX if we thought there was an appetite from HMG for a contract for ODX. I supposed there would be some value in it being validated by PD, as it would add kudos to the test for commerical sales. But those other 47 tests have the same kudos.

I messaged Walbrook stating that I found it extremely odd that the company would mention that they might miss to submit some information by pending deadline of the 10th of Feb, but did not express what the implications were of this.

The response is that the Company is not sure exactly what will happen should the 10th of Feb not be hit. The understanding is that there are several companies in the same position.

Some options would be that the deadline is extended again, or that the CTDA/DHSC reassess the need for the information at all, and just review based on the existing supplied information...or possibly something else. Basically its a fluid situation which is likely to take another turn in or around the 10th (next thursday).

"So they have cash market conditions arent favourable so why place. "

You need to ask them, at no time have they told us what they needs funds for. But they have said they are definitely doing a fundraise.

It would be good if you would understand that it is not a rumour that the company has confirmed it ispresently in discussions for a potential fundraise, and if it doesn't happen now, it will happen when the markets are more favourable.

It is also worth noting, in the RNS today, they did not mention that the discussions have finished, they had an opportunity to do so. So the last word from the company is that discussions are taking place.

Obviously I can not understand if you can't comprehend that.

"its your OPINION a placing WILL come"

Its the company's stated position:-
"Accordingly, there is no immediate need to raise additional capital and the Company may choose not to proceed with a fundraising until such time as conditions are more favourable. "

The choice is whether or not to wait until market conditions are more favourable. ...not whether or not to fundraise.

"it clearly was insider info"
"Inside information", by definition is VALID info from an unauthorised source.

"it was rumour"
Indeed it was...it no longer is
"notes the recent online speculation and CONFIRMS that it is in discussions..."

"Cant you lot read ?"

That's funny given you clearly missed the part that said:-

"notes the recent online speculation and confirms that it is in discussions with certain investors and shareholders regarding a potential equity fundraising. "

"in discussions"....present tense.

why do people insist on calling the fund raising discussions a rumour, its like a head-in-sand scenario.

ODX have stated via regulatory news that discussions are ongoing. They also confirmed that a fund raise WILL take place. Actually at the time of the RNS the discussions are ongoing.

"notes the recent online speculation and confirms that it is in discussions with certain investors and shareholders regarding a potential equity fundraising. "

"IT IS IN DISCUSSIONS"....Present tense

"Accordingly, there is no immediate need to raise additional capital and the Company may choose not to proceed with a fundraising until such time as conditions are more favourable. "

You'll note they did not say they may choose not to proceed, they said may choose not to proceed UNTIL...the company IS going to fund raise.

They are also a very leaky ship.
The discussions about a placing were leaked, as indicated by the article by TW, and also confirmed by the company.

The RNS today was leaked, as indicated by the much enhanced volume and the price increase yesterday.

Spot on...if you don't include my previous 5 posts today, I haven't post today.

Sometimes you just gotta laugh, AnthonyW last post on ODX was over 2 weeks ago, and the ONLY thing he has to offer since then is this post about me, no comment or discourse on the company or the RNS, only bettered by the fact he couldn't even be arsed to do a cursory glance at the board before he posted

An absolute gem of a contributor to the conversation.

anyhow, good to see double digits on the SP....come on triple digits !

You can certainly make contractual committments to sell shares that you don't current own, isn't that's how the whole short selling thing works.

" The Company remains in discussions with commercial partners about how best to service the European market and other territories that recognise the CE mark. Omega's commercial offering will be via B2B partners and distributors, and not through a direct-to-consumer strategy.

The CE Mark certificate is conditional upon the submission of additional data and follow-up reports by 31 March 2022 and Omega is working closely with its external study centres to ensure this deadline is met. "

You can be sure that sales contracts will include a proviso that the CE approval goes unconditional. DAM and others will have learned lessons from the DAM contract, signed start of Nov and not a single test used in the UK.

Good news on the HUA for the EU, said in June they were aiming for end of July, so instead of 7 weeks it's taken 8 months. And still more test data needed....

Is it a co-incidence that both HUA CE and CTDA are requiring further studies ? Is everyone with a test being asked to do further studies by the CTDA ?

What is really frustrating is that ODX tell shareholders in an RNS about a deadline (10th of Feb) and that it is unlikely that certain actions will be done by that deadline. And then they just leave shareholders hanging as to what happens in that scenario. Are we all supposed to be certification experts and be able to draw the conclusion for ourselves ?

"We will now look to begin the process of filing for approval to sell our home-use product in the UK."

So they haven't even gotten to the point of beginning the process, just "looking to being".

Words, they are important.