Omega Diagnostics Share Discussion Threads

[buywell3] 23/9/2019 09:12

buywell made the point not long ago that more money would be needed to fund CD4

''the net proceeds of the Fundraising will provide additional working capital to support the Company's programme to fully commercialise CD4''


However this 1.6M might not be enough IMO

''We are confident that we will receive the necessary approvals for CD4 but note the existence of material uncertainties with respect to timing of approvals and receipt of significant purchase orders and the resulting impact on short term working capital requirements''


The markets for CD4 are IMO 3rd world poor countries and order sizes unknown
Plus the price per unit is tiny so profits are IMO unlikely to be great unless tens of millions of tests are sold.


The BIGGEST hope for sales of one test is Nigeria.

''We continue to regard Nigeria as the largest commercial market for the 350 test.''

I think that one statement says it all

[gwr7] 23/9/2019 08:56

The future looks bright but I think the need for yet another whip round is further evidence of Harbinson being a failure with finance. He's been given more than enough rope to hang himself with.

[toffeeman] 23/9/2019 08:50

Hi Longshanks and Riv,

Nice to find you two here!

I am not invested but am looking, as a result of you know who buying a stake in SCE - small world.

Best

[rivaldo] 23/9/2019 08:45

Indeed. Soundings for the placing would have been initiated before the recent rise, so the discount to the share price at the time would have been minimal. And this secures the company's Balance Sheet going forward nicely, thus reassuring potential and existing customers and suppliers.

I see that in addition to the directors' participation, Richard Sneller is taking another 7.5m shares (£750,000).

All three divisions are now looking promising for the current year and beyond. I'm particularly glad to see the core revenue-generating Food Intolerance division looking so promising - this is the bedrock upon which CD4 can be launched.

I'm hopeful for at minimum steady progress this year, whilst it's possible we'll get much better than that with potential CD4 news flow, plus Food Intolerance expansion in China and the USA and the expansion of the allergy test panel via IDS.

[barrywhit] 23/9/2019 07:24

Agree longshanks, we knew the results wouldn’t be good reading, but moving forward looks promising...the placing is essential, Directors taking nearly a million shares...

[longshanks] 23/9/2019 07:15

Don't be silly, likitorma. A placing is not a bad thing: the stock market exists to facilitate such fund raising and it shows a very real appreciation of the company's value by investors.Pity the company that cannot get a placing away. In this case they have done so at a small discount to the current share price so I am not that bothered.

[buywell2] 23/9/2019 07:13

As expected a few months was the answer


buywell2 - 22 May 2019 - 09:19:58 - 1427 of 1850 Omega Diagnostics - nicely poised for significant growth - ODX

How much time does 635K with an overdraft buy them ?

That is the question

[likitorma] 23/9/2019 07:10

They were arranging a placing all this time. Grewal and Hurbison need to be sacked, compare their salaries against how many shares they are acquiring as part of placing.

[upomega] 19/9/2019 20:25

Inmo
We really do need these final results published now. Its going to look very bizare if they coincided with the interim trading update inmho

[upomega] 17/9/2019 20:51

Dibs
Maybe a pr campaign targeting health reporters from major tabloids would help.
Unfortunately I do not know anyone
Maybe omega's pr team know of some.

[dibs61] 17/9/2019 14:31

up - very much agree. It is a hugely impressive achievement for a micro cap with a £15m MC. It is, as the company have said, a unique product. There is nothing else out there comparable. So the opportunity is gaping for large scale NGO orders within a year. We know there is a demand for the product. The share price was more than double where it is now and they have moved hugely forward since then. It just needs the market sentiment to change so that there is a belief this is real.

[upomega] 17/9/2019 09:33

Personally I feel the wider market has not cottoned on to how important the ERPD validation is. My understanding is that this bridges the gap before who approval. The company was proactive in applying who approval prior to this announcement thus reducing the timescale for who approval .
In my opinion this is an amazing achievement for a company of this size. I liken it to a pharmaceutical going through phase1,phase2 and phase3 trial,s .
We just now need an order coming through on the back of this together with the final results published and hopefully we should see some good progress with the share price.

[longshanks] 16/9/2019 18:53

Don't know what share you're looking at buywell, but the one I'm seeing has seen its price rise from 9p to 12p in the last month. Whilst still early days, it looks to me like the share price is saying plenty about the direction of travel. Your words seem to speak more of sour grapes.

[buywell3] 16/9/2019 16:32

Shame the share price isn't

3,500 pounds worth of buys today on the back of what you lot think was a great RNS

[dibs61] 16/9/2019 10:16

Agreed. The level and frequency of communication under CK is infinitely better than before. We are on the right track.

[gwr7] 16/9/2019 09:56

ERPD is an important step towards the more stringent WHO prequalification so obviously it is subject to limitations. I see no problem with Colin King's wording in this respect. His reporting is a big improvement on the Evans guff.

[leedslad001] 16/9/2019 09:49

Orders and results next then

[dibs61] 16/9/2019 09:25

Of course it’s not ‘meaningless’. Suggest you need to do more research. Go to the WHO site and learn how the process works. I’m not going to explain to you.

[buywell3] 16/9/2019 09:09

all depends upon this key phrase

'in certain circumstances '

in what exact circumstances is what punters need to know

might be just 5% of the market or less , you just don't know do you

so IMO totally meaningless

dyor

[barrywhit] 16/9/2019 09:06

How things change, 3 years ago this would lift the share price 25%. It is very good news though. WHO approval won't arrive until next year but we are getting there after all the setbacks...

[gwr7] 16/9/2019 08:50

It is, though WHO approval is a more important step.

[value hound] 16/9/2019 08:44

Bit of a muted reaction though; I thought this was a pretty important step?

[barrywhit] 16/9/2019 07:49

Well done ODX, meeting timelines at last..

[gwr7] 16/9/2019 07:35

So that brings the 200 test to the party. Well done Colin. He got rid of the vanity projects and is forging ahead on two fronts. Allersys remains slow as syrup but once they're making money again I'm confident he can improve that division as well.