Akers Biosciences Share Discussion Threads

[norbus] 02/12/2016 12:44

Exactly ramridge and mcm's point

Remember a wink is as good as a nod to a blind horse,

There will be all sorts of gymnastics but the program will end flat on the floor.

[ramridge] 02/12/2016 12:40

wigwammer - Here is an extract from yesterday's RNS

"
Akers Bio's Tri-Cholesterol "Check" test is the only combined rapid test which provides an estimate of a person's Total cholesterol as well as their High Density Lipoprotein ("HDL") cholesterol levels - their 'good cholesterol'; thereby providing an estimate of a person's Low Density Lipoprotein ("LDL") levels - their 'bad cholesterol'. These features are essential to accurately differentiating between a person's 'good' and 'bad' cholesterol thereby making it a truly effective screening test for high cholesterol.
"

Well, that is a blatant lie. It is not the only such product in the market. A few minutes of googling providing me with information about quite a few others in the market able to analyse to the same degree. Below is just one example:

"
Cholesterol Home Test:
The one name that comes up most often for home cholesterol tests is CardioChek. They have the more scientific looking devices that sell for over $100 and promise clinically accurate results. Their blood analyzers do score better in tests than the less expensive paper strips without an electronic device to analyze them. The top rated CardioChek Home Blood Analyzer # 730, 1 ea is one that we found listed all over the Internet.

Not all owner reviews are positive, but it did more praise than other systems. The device uses color coded PTS PANELS test strips that get inserted into the machine and you get a readout for Total Cholesterol, HDL Cholesterol, Triglycerides, Glucose and Ketone. The digital display will give you the details usually after 1 to 2 minutes of analysis. You get 2 test strips in the package along with 2 AAA batteries that it requires to run.
"

My point is this. As a result of management putting out this blatant lie (at best management is incompetent if they were not aware of such competing products, or at worse deliberately misleading the public), the share price spiked yesterday to as much as 255p before crashing. Go tell the guys who bought on the news that this is not important but HIT, etc is .

This is misleading the market in a serious way that should not go unpunished.

[wigwammer] 02/12/2016 12:21

Yes, you can't point to any hype because it isn't there.Let's re-CAP: i purchased my shares below 100p and you suggested this was a mistake. The shares then rallied 100%+ and you changed your story and became more positive. Now the shares have fallen back somewhat you turn negative again.So you have proven more of a commentator than a sage, and certainly haven't provided me with anything of use (i'm up around 60-70% here).Ramridge - I don't think anyone owns the stock for the tri-cholesterol product. I had forgotten it existed tbh. The point that a multi billion usd outfit thinks it is worth giving it another go is a small positive, but nonetheless a positive. The positions in HIT, oxidative stress and now chlamydia are of far more interest. Imho dyor

[norbus] 02/12/2016 12:08

You, wigwammer, and a couple of others have tried to put a rose tint on the glass and a gloss that is not there. go back to your own post.

ramridge if correct about competitors , may have called curtains

[norbus] 02/12/2016 11:29

ramridge

a man after my own heart; The UN is the only organisation worse than controllers of AIM and humbler markets; AKR is on NASDAQ which makes the misinformation shocking.
mcm did a great job toning down invalid hype here. If I lost money, I would go to NASDAQ and report the scam.

[ramridge] 02/12/2016 11:10

I was interested in buying a few shares yesterday so did a bit of googling to validate the claims made and see if there are competitors.
Well, not only are there many competitors but quite a few also offer tests which cover both good and bad cholesterol readings. This company's claim that their product is unique in offering a comprehensive set of cholesterol readings is balloney and a lot of tosh.
Today's post by mcmather that they were trying to flog the same 8 years ago is shocking.
I think this company is run by con artists and I really feel for the punters who bought the story yesterday and are now looking at a major loss.
Shame on the advisors and brokers who support such blatant pickpocketing by rogue management.

[pre] 02/12/2016 09:19

very illiquid stock this one...as can be seen by the recent seller who just sold 2697 shares today whioh were bought yesterday at around £1200 loss!!

[mcmather] 01/12/2016 23:29

Aye. And if they had managed to sell the (same) Tri-Cholesterol devices for the past 8 years, those admittedly abysmal HIT sales would likely have avoided Wally squandering $15m worth of funds on who knows what.

[wigwammer] 01/12/2016 20:09

If they can replicate the abysmal sales achieved by the HIT test with any of the other products then we have a company that covers its op costs. Any sales beyond that - 70% falls to the bottom line.

[mcmather] 01/12/2016 19:38

Aye, but this one also sounded promising. 8 years ago...

"Akers Biosciences, Inc, a leading designer and manufacturer of rapid diagnostic screening and testing products, is pleased to announce that it has signed an agreement with a large U.S. distributor specialising in over-the-counter diagnostic products. The distributor, who cannot be named for commercial reasons, will market several of the Company's products to the U.S. retail market, including Tri-Cholesterol, the only disposable, rapid test in the world to read HDL, LDL and Total cholesterol levels.

Marketing of ABI's products under the agreement will begin immediately to drug, food and convenience stores and mass retailers. Clients include such retailers as Kmart, Wal-Mart, CVS, Walgreens, 7-Eleven, Safeway, Costco and Target".

[algernon2] 01/12/2016 18:52

Yes appears "genuine" good news for a change.Nice.

[rivaldo] 01/12/2016 12:06

Well, well...this sounds rather exciting. Worth noting in particular that First Check are a subsidiary of the mighty Alere Inc....



"Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (the "Company" or "Akers Bio"), a developer of rapid health information technologies, has signed a distribution agreement with First Check Diagnostics, LLC ("First Check"), the major global diagnostic device and service provider, to serve as the exclusive distributor of the Company's rapid cholesterol self-test in the United States under their "First Check" brand.

First Check products are sold through major retailers including, CVS, Rite Aid, Target, Kmart, Meijer, Giant Eagle, Stop & Shop, Giant and ShopKo.

Akers Bio's Tri-Cholesterol "Check" test is the only combined rapid test which provides an estimate of a person's Total cholesterol as well as their High Density Lipoprotein ("HDL") cholesterol levels - their 'good cholesterol'; thereby providing an estimate of a person's Low Density Lipoprotein ("LDL") levels - their 'bad cholesterol'. These features are essential to accurately differentiating between a person's 'good' and 'bad' cholesterol thereby making it a truly effective screening test for high cholesterol.

etc"

[norbus] 30/11/2016 08:53

Ever since our Raymond lost his goat , he discovered a new way of milking

[werewolfie] 29/11/2016 17:18

Heard it before with alcoholic breathalyzers etc etc etc

[norbus] 28/11/2016 08:38

Been there, done that, what's new? If these tests which are not cheap, had any real merit in the real world, they would be flying off the shelf; I guess Raymond could be inventing problems for the solutions

[gersemi] 28/11/2016 07:17

Interesting

[wigwammer] 18/11/2016 08:29

I suspect placing at $2, but I doubt it will be offered to aim holders.The $88k pw figure was for 9m16 ie historic. Forward annualised breakeven point $4.6m revenues. So assuming just the $2.5m US hit sales and 65% gross margin implies cash shortfall of $1.35m pa or $26k pw.$88k to $26k pw = step change in costs.

[mcmather] 17/11/2016 23:37

Did a dummy sell last week and could have got 233p. Left it then saw the draft S-3 filing the other night and which detailed the nasdaq price on 11 Nov 2016 of $3.25. Suspect that there will be a discount to that hence the figure quoted in #3304. Tried a sell prior to that post but no immediate offer; suspect the placing will be around $2.90 and with the spread here basically decided to let things unfold.

One bit of caution but in the pro active interview, typical of the management here, it inferred the Chinese order would be completed in Q4 2016 but also said "at least a proportion of it". Cash burn is currently $88.3k per week...

[wigwammer] 17/11/2016 16:09

The market is wrong and you are right, of course.

[norbus] 17/11/2016 15:15

You be a Guru then Wigwammer ; A Neil Woodford in the making. When you run lean you starve and choke with too little oxygen maestro. you only saw gains because they had to hype.

[wigwammer] 17/11/2016 14:11

I suspect it is easier to hit a $4.6m sales target than a $7m target - cash burn is falling and the risk of imminent collapse is receding.Given the ask has doubled over the months since we started this exchange, it appears the market agrees with me.

[norbus] 17/11/2016 13:43

Company nowhere near $4.6m sales ; Many $1m= deals failed to repeat in the past

[wigwammer] 17/11/2016 12:30

Some interesting detail in the conference call, particularly that the revenue run rate to reach cash neutrality has fallen from circa $7m to $4.6m pa as a result of cost cutting.Given they make circa $2.5m revenues from Pifa HIT in the US alone, they need to find just another $2.1m to reach sustainable break even.Sources of that growth:Further pifa hit growth in USPifa hit revs in China and rowOxichekKetochekChlamydia Alcohol, asthma...Given hit revenues have never been higher, costs never been lower, and the pipeline is maturing, prospects have never looked so good.Added to this, cash burn should significantly fall from $4m pa to circa $1-1.5m pa accounting for only the $2.5m revenue contribution from US hit.Assuming they raise the full $7m at $2, that adds 3.5m shares giving total of 9m shares and market cap of £16m. That will provide them with 4+ years cash to get sales above that $4.6m level. Very achievable given the product set.Will be interesting to see to what extent management participate in the issue.