Member Info for TWatcher

nice to see tom_the_bomb has ODX sense of humour, using the word imminently.

So looks like we can dial back all the lather from some that thought ODX had been processing 11M cassette per month from Surescreen @ gross £1.70 . We are back to the far more likely scenario that this was a short term thing and ODX pull in less that £2.8M for HMG, hence why no payments on the gov transparency pages.

And now we know that uk gov have no committment to select a test for ODX to manufacture, and therefore the delay was never because ODX was waiting for HMG to pick a test, we revert back to the position that ODX has to come up with a test either their own or some other validated one, then wait for an order. Gov does not tell them which test to make.

and no one admits to seeing the foi doc on avct forum and keeping quiet :)

I'm feeling the love...keep it coming.

Particularly love it when people who have me filtered reply to me posts :)

Strategy does not explain why Odx has consistently (until July 13th) told shareholders that” Once a suitable test has been approved the DHSC will license the test for Omega“ and they were“still waiting for confirmation on which test it will be required to manufacture.”

Both statement are unequivocal in saying that it’s a matter of when the gov pick a test, not if.

The truth , assuming the foi response is accurate ,is that the government has no commitment to select a test for Odx to manufacture.

And noticeable that Odx has stopped telling shareholders that they are waiting for HMG to pick a test. Why the change of message when the terms of the contract have not changed. Did Odx misunderstand the government commitments ?

Well, now we know why ODX omitted the "Omega is still waiting for confirmation on which test it will be required to manufacture", wording from the full year results, wording of such like that previously had been commonplace, and I noted had been dropped.

Following is an 8th sept reply to a freedom of information request

"The contracts with both Global Access Diagnostics and Omega Diagnostics do not contain any
commitment to volume or value and in addition THERE IS NO COMMITMENT FROM HMG TO FIND A TEST FOR THESE 2 COMPANIES. The contracts in place are flexible, with the ability to purchase tests on a
month-by-month basis. Also, these contracts contain clauses to allow us to exit at short notice if
required. DHSC does not comment on any payments made to the companies; this is commercial
in confidence."
(my capitalisation).

So DHSC is under no obligation to find or select a test for ODX.
https://www.whatdotheyknow.com/request/782164/response/1871668/attach/3/1355046.pdf

Now many of the so called real investors here have made no secret of the fact that they also frequent the AVCT board. So I'm guessing I'm not the only one to be shocked that this 13 sept posting on the AVCT forum containing news highly relevant to ODX, never got so much as a mention on this board.

Wonder why that was, clearly if they thought it was great news, some happy clapper would have splashed it over here.

So whilst we were informed for months that ODX was waiting to be told by DHSC which test to make, the DHSC was never under any commitment to tell them which test to make !

I'll leave the usual suspects to the usual name calling and diversionary tactics.

I do have a 2021 Audi RS6 on my drive though so all is well ;-)

They say those die-cast models can be quite expensive. :)

I think a really tuned in investigative reporter could have a field day with those headquarters premises of the companies that are underpinning the UK LFT supply.

Ah, dear old beargrylls he of the famous ODX post just about 1 year ago:-

17 Sept 2020:-
"Gov.uk have just published another guidance article on antibody testing... news is surely right around the corner now."

posted less than 24hrs after this gem on the ODX forum:-
"What high performance car you going for? I’m personally going for the new Audi RS6, and I can’t f*****g wait!"

Perhaps the tesla tweet was aimed at you ?

"Does not really matter who is funding it"

Ah, but it does. If the DHSC is paying ODX, there are no payments, which means cumulatively the amount paid has not written of the £2.8M owed.

Whereas if the contract is with surescreen, it's an entirely different matter.

Its not rocket science, but whereas he was quite happy to dimiss any notion of working with Avacta:-

"Avacta is not one of the potential partner companies with a DHSC approved lateral flow antigen test that the DHSC has facilitated discussions with."

His answer relating to Surescreen was much more obtuse including the phrase "Confidentiality precludes us from saying any more than that", a clear implication that there is more that could be said.

https://find-and-update.company-information.service.gov.uk/company/06152108/filing-history

As of 30th April 2020, Lotus global had 1 employee and was £17K in debt. They have(or more precisely he has) moved house a few times, and according to the above, the registered office is no longer in west drayton since sept 2020, and yet my tests produced in Jun 2021 has that address stamped on it.

As an aside, the test shelf life is 2 years.

Further to the original poster showing us a vacant lot for Mediport UK HQ, I just received a pack of LFTs from my local chemist (Biotime). There is a chinese address on the packaging, and also the following:-
"Lotus Global Co, Ltd 1 Fours seasons terrace, West Drayton, Middlesex, London, UB7 9GG

This is what is at that address
https://ibb.co/7S64FTy

An end terrace 2 bed house :)

unfortunately the nature and who is providing funding is yet another thing that ODX has declined to inform shareholders. Is this a significant separate contract pulling in vital cash, but shareholders are left guessing the value, or falling under the existing DHSC contract that would result in payments from DHSC, the absence of which on numerous consecutive DHSC transparency documents would indicate it's not significant. It can't be a separate contract with gov, as that would have appeared on bidstats.

You would hope that all the talk on here would mean that it would involve more than £2.8M income from DHSC and thus rather than just being written off against existing debt, we would be seeing actual payments from DHSC. So that would suggest that the contract is not with DHSC.

However in the 13th jul Q&A CK said

"In terms of LFTs we are currently producing CD4 tests, AbC-19 tests, our own VISITECT COVID-19 antigen test, as well as providing cassetting and pouching services to the UK Government."

but then Q115 gives us:-

Q115: have you got any current contract with surescreen to supply them with their goverment contract
We can’t disclose details of our arrangements – as you know we are currently supporting the Government with additional cassetting and pouching services for other COVID-19 antigen lateral flow tests that are being deployed in the UK and the DHSC they have facilitated discussions with other potential partner companies with lateral flow antigen tests that have now been approved by the DHSC and also have self-test approval. Confidentiality precludes us from saying any more than that.

So its confusing

"I shall just buy more, free Country after all. If you disagree then you would be selling now??"

So your logic is, anyone that doesn't agree about buying tomorrow, should be selling today ?"

ummm.......

And now retweeting a piece from the yorkpress about antibody testing.

If this company had any orders at all they wouldn't be grasping at stories from regional newspaper and pumping them onto twitter.

Here we are on the verge of oct, and still not a peep from ODX about those 3 countries that we were told were imminent in mid-July.

It's like 2M a week LFT in April all over again.

whereas in my GP surgery, if you ring up after 9am in the morning and want to speak to a GP, you are told to ring the next day between 8:30-9, as all the phone slots have already been allocated for that day.

Extremely limited access to GPs , year waiting times for a first consultant appointment, multiple year waits for surgery, Frequently 12 hr waits if you are really ill at A&E. Friend of mine was asked to vacant her bed, and had to wait 8 hrs in a chair to get her discharge letter and her Morphine tablets. Emergency appoint with pancreatic clinc....at least 3 months.

It may be free at the point of delivery, but getting to the point of delivery is the challenge these days.

it really isn't much of a service these days, and that isn't a criticism of the front line staff who are working their butts off day and daily to the point of exhaustion.

"Apparently NHS deals with 1M patients every 36hrs
that’s 240M LFT’s a year if fully implemented "

Which is a mighty figure, but unfortunately has little relevance to the recommendation, which is "before certain elective procedures ". Elective procedures is only a small proportion of all patients dealt with by the NHS, perhaps an order of magnitude less than the quoted figure.

Will however make it a lot more convenient for patients, even routine outpatient scope appointments currently require 3 day isolation.

So no orders then, when they were talking about increased demand, they were talking about other manufacturers increased demand ??

car park looks empty :)

I'm incensed that ODX didn't have any etonian mates :)

"The increasing demand for #lateralflow tests"

Sounds brilliant, what orders did they announce ?