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I was thinking about the overall situation in this market and still find it interesting that none of those reporting the Amigo/Provident situations are questioning the actual borrowers themselves or the actions of the Claims Management Companies and their 'ambulance chasing'.
If everyone who had borrowed from Amigo etc. repaid their loan as contracted, would there even be a 'situation' here? No.
There are so many questions...
Can all the blame be laid at the feet of Amigo et al or do we look towards those who won't or can't repay and cry foul?
Do we look toward those who made fraudulent applications in the first place?
Do we look towards the nefariuos actions of the CMMs in creating a tsunami of 'claims' that has skewed the situation.
Or do we look at those with political or personal agendas casting the loan companies as villains and evil?
In creating this tsunami, have the CMMs effectively prevented those with legitimate claims (which I am there are some) receiving the required attention and their just compensation?
Has this created a toxic attitude towards all 'sub prime' lenders subsequently causing others to fold or leave the market?
Take Provident - why after over 100yrs of 'sub-prime' doorstep lending are they now bad boys? What's changed with their model? When they started, they would have seen to be a God send - a welcome, safe and legitimate alternative to other sources of borrowing at the time and indeed since.
Once lenders like Amigo and Provident have been milked, who will the CMMs move onto next - local Credit Unions who can't afford an expensive lawsuit??
Has the FCA behaved professionally and unbiased both politically and in the interest of both the lenders and their customers or are they bowing to the shrieks of a vocal few with an agenda?
I speak as someone who has borrowed hugely variable amounts over the years many, many times, in many different forms and through some very thin times indeed. No one was 'forced' to borrow from these lenders. The choice to borrow and the choice from whom was entirely theirs. Sometimes personal accountability should just be faced up to.
Just my twopence worth of thought.....
(apologise for the size of post and GLA)
The Genedrive Covid variant review/surveillance list was updated yesterday.
https://www.genedrive.com/assays/96-sars-cov2-variants.php
I'm no virologist but it seems like it's still detecting all known variants including the 'Indian' variants.
This should help any potential sales with Divoc et al.
They do play dirty!
I had a stop loss set on another share at 114p (price was about 125p) to protect profit - bad RNS, the price immediately tanked and my stop loss was executed at 65p!! Barstewards!
Would be very wary of setting any stop loss again , particularly on any volitile share - as they say, lesson learned:(
I find it mind the following FCA quote mindboggling ..
"whilst other stakeholders such as shareholders are not being asked to contribute"
Surely shareholders have already contributed by having the share price decimated down to 6p and then to receive smaller future dividends (if Amigo survives) in order to pay towards 'compensation'.
Compensation claimants are in a win-win situation because if we live they get paid, if we die they're in the same situation as before and no worse off.
Shareholders, employees etc will lose hugely if we go to the wall, not to mention the loss of facilities to future borrowers.
Bizarre FCA view!!
They won't even be in court to defend or argue their stance.
The page link posted is for the AIHL kit (Genedrive® MT-RNR1 ID kit) which obtained it's CE mark in Nov 2019, has completed NHS trials and is now ready for sales launch (date TBC but expect this summer) with our distributor Inspiration Health Care.
Hence the documentation on the linked page has been available over a year (April 2020).
@Ninjadude
...from little acorns.... ;)
When I was a grumpy kid, I was always told to stop being a 'mardy pants' lol :)
Well done everyone at GDR for having the tenacity to crack a very hard nut!
I hope DIVOC update their website soon to reflect the test is now fully ICMR approved - as is their lab.
From the wording of the RNS DIVOC is described as a 'distributor' but to me they only seem be buying the quantities for their lab business and not general distribution.
It would be good to get more details on the "additional routes to market" may be and their sales potential.
I do agree with some other posters here that price may need to reflect the market place, whether this be through subsidies GHIF, WHO, UNICEF etc. or on a volume versus cost basis e.g. large distributor or government sales.
Just my twopence worth....
Nice update.
I know there's no (meaningful) sales figures for this product yet, but does this add more meat on the bone for anyone eyeing us up as a future potential medium term takeover target?
@Mozzy
Can't really disagree with any of that but at this stage in a fledgling company those remuneration figures did widen my eyes a tad!
Building a modest position here.
From half year report
"experience delays in gaining the key regulatory approvals from the FDA, WHO and in India."
From what was said during the last presentation, it appears that the Indian regulatory system has been somewhat of a 'shifting sand' & troublesome process.
Certainly some chunky increases in remunerations from 2019 to 20.
AD $52k >> $374k
JK $35k >> $130k
MP $2k >> $57k
Plus AD granted large share option.
Need to show real income progress this next year because we still seem to be some way off dividend payments as of yet and SP growth seems to have stagnated. Prefer not to see anymore dilution either.
Will stay invested for now tho'.
When I click in Jays link it says
"Oops. The page you wanted cannot be found, so we brought you to something similiar."
Mmmm... a genuine mistake corrected or info accidentally pre-released and removed?
I'll wait 'til I hear from the horse's mouth...too many false dawns :(
GDR will mot be selling direct. We already have a specialist worldwide distributor in place - Inspiration Healthcare.
https://www.inspiration-healthcare.com/company/about-us
They seem to be a well run company which deal with Neonatal ICU equipment amongst many other specialities.
If our product is as good as the trial (which I believe it is) then I also believe sales will come.
@JimiH
I was caught by those 'dodgy shenanigans' - I had a 5k portion of my holding at a 114p stop loss and it was executed at 65p - not happy :(
But lesson learned....
Who's going to win the control of the SP direction for the last Friday before next results?
Fear Of Missing Out
or
Fear Of No Orders
'Place your bets now!'
(TV's 'Banzai' - Youtube it kids..)
@bigbench
You started writing out that TR1 yet? Lol
Looks like we've fully vanquished those dark contemptuous days of December and January post the Pfizer news!
GDR's Future's so bright, gotta wear shades 8)
https://youtu.be/8qrriKcwvlY
IMHO etc.etc....
@Dave77
"soon to be sir Budd"
Isn't DB Canadian? If he is, I believe he cannot accept a knighthood due to the Nickle Resolution passed by the Canadian parliament in 1919...
Another useless (if correct) fact for this BB! lol.
The PALOH trials team had an open online meeting today and was one tweeter's comments/observations.....
https://twitter.com/Mr21318/status/1368931514415775745?s=19
There's also an earlier Jan tweet from the BSGM about the preliminary results
https://twitter.com/BritSocGenMed/status/1351852336344428544?s=19
They noted very few parents opted out the the test.
A very worthwhile product and whose model could be used for other 'on the spot' genetic tests for a more informative approach to medicine.