Omega Diagnostics Share Discussion Threads

[1347] 22/8/2023 09:37

Finance Director jumped or was pushed with immediate effect, that's about as bad as it can get. I wonder whether the new NED noticed something untoward and that was the trigger? Or like Colin King did he fall out with Jag? Not much use anyway, all he did was sell off one half of the loss making business at a song whilst retaining the other loss making half, oh plus a heavily discounted placing. Company is a complete disaster area, biggest shareholders are just brokers and a spread betting company? I see little to no chance of things changing, it's just a pure lifstyle company now.

[specialistwasagypsey] 17/8/2023 21:35

Just think Specialist bought this at 95p…

Lol.

[terminator101] 14/8/2023 09:16

Finally they post their results. No wonder they wanted to try and stall. Revenue down. Losses up. But nice that Jay more than doubled his salary to £351,000 So don't worry as no director has suffered any hardship as a result of the "transformation" of the share price.

[1347] 04/8/2023 08:21

Waste of time this company. I know a lot of it was down to the corruption and incompetence in the current government awarding £ billions in LFT contracts to buy Chinese tests, such as Innova, via middlemen (with the 'right' connections who creamed some of it off) to the detriment of UK suppliers and which, in my opinion, ought to have resulted in an investigation and possible criminal charges, but the way this was handled by Omega was apalling.

Directors were exercising options and selling down when they probably knew the DHSC contract was going pear shaped but telling market the exact opposite. Then they said they didn't need a placing, only to then have one several weeks later. Not to be trusted in my view.

So they couldn't sell hardly any tests in a pandemic, thus missing an open goal, couldn't make any money on their other Global Health tests either so had to sell those, yet now expect us to believe they can make it in China (who will just steal the IPR and make it cheaper) and the USA where they are up against bigger and better players? Well I won't hold my breath on those points.

Yes they may have £5 million in the bank (half of which they may have to give back to the DHSC) but only because they got that for selling out half of their business plus raising £2 million in a heavily discounted placing with 25% dilution. Almost everyone except Jonny Come Latelys will be under water, including the Warrant Holders.

They've had to write off £524 k over an aborted re-location and now can't deliver on the few orders they have? Their master plan is hire expensive consultants to tell them what they should already know and change the culture, yes that culture that they created? Oh but hang on, if we spend more money on re-brandling it will all be fine? Clueless in my view.

Shares are now in the bottom draw, they might be worth something in 5 years if they haven't gone under by then or diluted the shares down to next to nothing on jam tomorrow placings.

[dlewis1] 04/8/2023 07:48

You keep going around boards saying that you've switched to other shares as a form of recommendation for others to buy into those shares. Get lost or keep the conversation to the specific discussion board. No need to advise anyone of your switches

[blackhorse23] 03/8/2023 22:44

Only stock I have lost hell of money 2021-22 , it's a bankrupt stock! I have switched to other healthcare stocks eg APH & HVO which is performing well

[arthur_lame_stocks] 03/8/2023 16:46

There's a few things I don't get here. Did they really neglect the Food Intolerance business so badly during the Covid frenzy that turnover has fallen this much? It had always seemed like quite a stable and very profitable business to me. Gross profit has also fallen very substantially, are they being squeezed by competition?

Jag seems to think it's an exciting time for the business, I guess he means in the same way that the Titanic was exciting for the passengers.

Still, if you change the name, everyone will forget how badly you messed up.

I won't say it's game over just yet, but I couldn't imagine buying the shares at the moment.

[tomzimerman] 03/8/2023 09:14

You really are Clueless and just jump on anything negative hopefully finding someone to argue with. Waste of good oxygen there ser

[orkneyarab] 03/8/2023 08:08

Termite bingo - 1 point each for gerbils and huh.

[owenga] 03/8/2023 07:53

And market value is only £6m.

[owenga] 03/8/2023 07:53

And they are sitting on £5m of cash.

[owenga] 03/8/2023 07:52

The results were as expected. More importantly thry have sorted out yield and efficiency issues which they referred to in a previous trading update, so actually that is pretty positive.

[clocktower] 03/8/2023 07:13

Nothing in these accounts to be positive about imo but maybe worth watching the presentation.

[terminator101] 03/8/2023 07:12

Oh dear gerbils. Those results not so good huh.

Bloodbath today IMO.

[blackhorse23] 26/7/2023 13:03

Added HVO , excellent results today

[hooded claw] 25/7/2023 11:24

Oh dear, GDR rise was due to a field ODX have nothing to do with

[arthur_lame_stocks] 28/6/2023 19:07

I just took another look at these and I'm glad that I sold out again when I did. It looks to me like the second half of the year was particularly poor. What happened to the days when Health & Nutrition made an op profit of £3m?

And Jag Grewel has called in external advisors to tell him how to manage the business. What are shareholders paying him for then? I always thought he should have gone with Colin King but I guess there are no institutions on board anymore, only PI's most of whom have probably lost interest.

I don't think I'll be buying back in unless things improve substantially.