Omega Diagnostics Share Discussion Threads

[barrywhit] 03/12/2019 13:26

Thanks for the link Rivaldo, all reads very well...

[upomega] 03/12/2019 11:45

All looking good rivaldo and especially good that we have a good write up in the times. Hopefully we will start to attract more private investors

[rivaldo] 03/12/2019 11:18

Cheers upomega. They wouldn't comment on anticipated profits in a newspaper article.

There's more coverage here, with a further interesting snippet about potential Chinese food intolerance orders:



Extract:

"The company is also seeing strong demand for food intolerance testing kits from its distribution partner in China, where the food and drug administration is expected to approve the product early next year.

Colin King, 51, chief executive, believes there is the potential for up to 500,000 products to be sold in China in the first 18 months after approval from the regulator."

[upomega] 03/12/2019 09:40

Nice article rivaldo.
Did they give any indication of possible anticipated profit for the next six months as a whole

[rivaldo] 03/12/2019 07:53

Very interesting figures in this interview with the CEO, amongst other snippets:



Extract:

"Colin King, Omega chief executive, said: “We are making great progress in all three divisions, and especially in the near-term are well-placed for growth in both food and CD4 units and also our financial performance was in line with our expectations.

So overall it is a positive set of results coming out, helped by the second order from Nigeria which is subject to approval from the ministry of health but gives a good indication of the demand for the CD4 test and that has now taken us up to 250,000 tests.

We have submitted all our technical documentation, that has been approved, we have concluded an evaluation in Nigeria very successfully and positively.

“The lead investigator has submitted the report to the ministry of health with the recommendation that the test is included in their national HIV programme."

He said: “So we are waiting on the minister of health to put ink to paper to sign it and are expecting that quite soon.

“Our partner in Nigeria has done a lot of work in terms of the national HIV programme in terms of getting our test known and there is a wide acceptance that this test will make a positive difference to people living with HIV in Nigeria.

“So there is definitely encouragement there.”

Mr King added: “We have received our first order from Zimbabwe and are working through about another nine countries and expect relatively modest sales in this FY but it is the platform to build the following FY.

“All going well by June we should have the approval.

“Our estimate is probably by June we will have received World Health Organisation pre-qualification and then that allows all the Non-Governmental Organisations to procure our test.”

He said: “To summarise, this FY we get the Nigerian approval it will be 200,000-300,000 tests, next FY you are probably heading towards the million mark and then the following FY you are into millions, somewhere round about two to three million.

“It has been a long journey but the fact [is] this test makes a huge difference to people’s lives who are less fortunate.”

Kieron Harbinson, chief financial officer, said the gross margin “vindicates the decisions we have taken over the last 18 months or so”.

FinnCap said the interim results were in line with the October trading update, “reflecting the financial benefits of closing its German business and selling the infectious disease business”.

Mr King added: “Cleaning up our business has helped our cost base and our margin has gone up as well as we focus on higher-margin products.”

The firm’s Visitect CD4 Advanced Disease kit detects when CD4 cell counts in HIV patients have fallen to such a level that they should be taken off drugs."

[upomega] 02/12/2019 19:30

At least the price has held up barry. Inmo the positives are starting to out way the negatives now.

On a separate note. What are peoples view,s on the next set of results. My estimate is that we will be in profit providing Nigeria comes through together with limited orders on the back of erpd validation. My rough estimate is 600/- profit. Which includes Food Tech.

So i would be interested in other peoples view on this

[barrywhit] 02/12/2019 18:17

Not odd upomega, just our 30k trader closing his open trade due to the share price not rising....imo

[upomega] 02/12/2019 17:18

I notice we had our usual odd trading pattern towards the close. At least we ended up though.

[leedslad001] 02/12/2019 15:05

Would be nice to get some orders from the NGO,s they said they were in discussions with

[upomega] 02/12/2019 13:20

Fincap have reiterated their price target of 25p. It would be nice if we could get there asap. Hopefully we will get an ic tip this Friday. Which could attract new investors

[gwr7] 02/12/2019 13:02

They call their presentation an investor evening but it starts at 4.45. If they're interested in private investors why not make the presentation after normal working hours and allow travel time eg 18:30? I realise they'll never please everyone but the timing looks like avoidance action to me. I feel we're turning a corner and if folk who can attend could post their thoughts afterwards it would be much appreciated.

[dibs61] 02/12/2019 12:40

I think the ‘slightly̵7; negative sentiment here by PI’s is entirely understandable. But I really think that the chances of things swinging in our favour in the next 12 months is growing by the month. Look for example at the WHO progress being made and set out in some detail in today’s announcement. Make no mistake once we get the WHO prerequisite there is no question we are going to get sizeable Visitect orders which will transform our revenue profile. So, more patience needed, but that is what successful investors require in abundance. I’m sitting it out because I’m convinced we are on the road to success here. We have a unique product which no one else has on the market. It may no longer have quite the market size potential that it once had but it’s still big enough to transform a company with a puny £16m MC.

[rivaldo] 02/12/2019 11:40

Agreed barrywhit, quite happy for the market to be as tight as possible now that ODX seems to be back on the up.

Today's new options are pretty de minimis in the scheme of things, particularly as they're only exerciseable at 10p rather than the nil cost options which many companies specialise in.

[barrywhit] 02/12/2019 11:14

upomega, I don't mind ODX being tightly held by a few Investors as that leaves about 60million shares in the open market, that allows for sharp rises in share price when the orders are confirmed, but they need NEW PRIVATE INVESTORS to allow that to happen...

[upomega] 02/12/2019 11:00

Barry. I'm afraid this is practically a private company now with two major shareholders having ties with each other.together with current and past directors also supporting them.

[barrywhit] 02/12/2019 10:52

He will get a fee upomega....ODX really know how to alienate their Private Investors..hence they have very few left....

[upomega] 02/12/2019 10:31

Does he earn a salary as well

[longshanks] 02/12/2019 10:00

And a non-exec at that....stinks

[barrywhit] 02/12/2019 09:32

With the share price at a near all tile low they issue 500k options to Snellers brother in law at 10p...taking the p*ss...

[upomega] 02/12/2019 09:23

We may get some new investors if we can get some good write ups in the financial press.
The investors evenings are good,but they dont get the message out there to potential new investors inmo

[barrywhit] 02/12/2019 08:15

It is Arthur, $5 a test I believe, good to see the overall profit margin up to 67% from 61%...shame we have no retail investors left, hopefully the Investor Evening will shake a bit of interest....

[arthur_lame_stocks] 02/12/2019 08:04

Isn't that order for 200k cd4 tests worth about $1m?

That's not a bad start considering it has only recently hit the market.

[rivaldo] 02/12/2019 07:45

Good to see the new and larger Nigerian order. And the interims show slow but steady progress forward, with good growth in higher margin FoodPrint sales.

And the outlook is good for Food Intolerance as well as CD4:

"Our food Intolerance division continues to grow and we remain confident that this unit will deliver double digit revenue growth in the current financial year, helped by our new Chinese partner having placed stocking orders for 50,000 units in preparation for their expected regulatory approval in China."

Hopefully ODX have now established a base from which things can only get (much) better (to coin a phrase).

[barrywhit] 02/12/2019 07:42

Interims as expected, good progress being made...bodes well for next 12 months...

[barrywhit] 02/12/2019 07:29

Is this just another Nigerian scam...lol