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Sgvale Supreme	05-Jul-2020 17:47        Sgvale About Contact  Quote this Post!
x 0   x 0  Alert Admin	In March, Biolidics announced it had received official approval for the novel coronavirus test kit in the European Union, in the Philippines and in Singapore. What's the sales orders in EU & Asia now minus US ?
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brchkho1 Master	05-Jul-2020 15:43        brchkho1 About Contact  Quote this Post!
x 1   x 0  Alert Admin	You may wish to goto his website to register for all future write up to emaill to you. Can view all the past articles in his website too. zillion      ( Date: 05-Jul-2020 15:17) Posted: Good read, It is most unfortunate that there are just too much governance issue for most of the locally listed companies in SGX. It seems he only covers our local companies and dares not touch any of those overseas that are listed here. The whole of SGX should be taken over/merge with some other international bourses/split into stocks market and derivaties market to get it right. brchkho1      ( Date: 05-Jul-2020 11:08) Posted: Please go thru Mak Yuen Teen' s write-up on this Co. https://governanceforstakeholders.com/2020/07/05/biolidics-disclosures-are-simply-unacceptable/
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zillion Master	05-Jul-2020 15:17        zillion About Contact  Quote this Post!
x 0   x 0  Alert Admin	Good read, It is most unfortunate that there are just too much governance issue for most of the locally listed companies in SGX. It seems he only covers our local companies and dares not touch any of those overseas that are listed here. The whole of SGX should be taken over/merge with some other international bourses/split into stocks market and derivaties market to get it right. brchkho1      ( Date: 05-Jul-2020 11:08) Posted: Please go thru Mak Yuen Teen' s write-up on this Co. https://governanceforstakeholders.com/2020/07/05/biolidics-disclosures-are-simply-unacceptable/
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churnw Elite	05-Jul-2020 14:06        churnw About Contact  Quote this Post!
x 0   x 0  Alert Admin	I feel the whole issue did not materialise due to FDA did not approve the test kits. the mgt also don?t want this to happen. But since no choice they have to accept and move on.
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ST3-trading Senior	05-Jul-2020 13:14        ST3-trading About Contact  Quote this Post!
x 0   x 0  Alert Admin	13k test kits is not fully refund to aytu but anyway is small money shld be total of 1.25 mil test kits . anyway i still partly agree with the article .no creditably to this company insider trading possibilities .
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newbieliu Elite	05-Jul-2020 12:32        newbieliu About Contact  Quote this Post!
x 0   x 0  Alert Admin	I guess all investors short or long term in this co will feel that it is UNACceptable la. all about who can making it the speculations come true in real numbers in revenue so pointless to say it now. Should have complained to Strait times long ago .  When companies went bankrupt, those investors will also say the same thing. IT is a matter of your due dilligence and no need to say anything to add salt to the wound anymore when whole world knows it is unacceptabe, unreasonable and egregious etc etc brchkho1      ( Date: 05-Jul-2020 11:08) Posted: Please go thru Mak Yuen Teen' s write-up on this Co. https://governanceforstakeholders.com/2020/07/05/biolidics-disclosures-are-simply-unacceptable/
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brchkho1 Master	05-Jul-2020 11:59        brchkho1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	When this Co 1st announced the selling the test kits to US market, I was already sceptical about it. I was not comfortable with the spiking prices and avoided this one and the other one, Clearbridge totally, but monitoring the progress just to see if my concern was correct. My earlier view was, every countries are known to be developing test kits, and the threshold to have a test kits somewhat like face mask, easy to make. What so special about this one? Besides, newer and better ones were being developed by others. Look at the face mask prices, look similiar to the chart of this counter. If this test kit is good, why SG was not using it in the 1st place?  Starship      ( Date: 05-Jul-2020 11:49) Posted: Another YuuZOO in the making?.......................... BIOLIDICS&rsquo DISCLOSURES ARE SIMPLY UNACCEPTABLE Mak Yuen Teen Jul 5, 2020 &ldquo Biolidics in a Nutshell&rdquo raising further questions about the value added by Biolidics with respect to the test kits, given that it neither developed nor marketed it &ndash even though my own university, where Biolidics began as a startup, seemed to have misunderstood and mis-stated Biolidics&rsquo role in the development of these test kits. I also questioned the market potential for Biolidics&rsquo test kits in a crowded and rapidly evolving market for similar test kits and other diagnostic tests for Covid-19. It seems that bad habits are hard to die, especially if regulators are  too slow in calling out questionable conduct and initiating investigations. The recent announcement by the company of its termination agreement with Nasdaq-listed Aytu Bioscience is the latest case of questionable disclosure. On April 23, 2020, Biolidics had announced an &ldquo exclusive distribution&rdquo agreement entered into that same day with Aytu. Under the agreement, Aytu was said to have committed to buy 1.75 million test kits within the first 3 months from Biolidics. The announcement specifically said:  &ldquo Under the terms of the Agreement, Aytu has a  binding commitment to purchase  from the Company  an initial 500,000 COVID-19 Rapid Test Kits within one business day  from the date of the Agreement. Aytu is  required to purchase from the Company no less than 1,250,000 COVID-19 Rapid Test Kits within the first three months  from the date of the Agreement in order to retain exclusivity (the &ldquo Minimum Exclusive Commitment&rdquo ). All third party orders arising from Biolidics&rsquo own referrals and sales will not be included in this Minimum Exclusive Commitment.&rdquo   (emphasis mine) It adds:  &ldquo Further,  Aytu  shall pay for and lead the clinical trials processes, to complete and obtain clearance for the COVID-19 Rapid Test Kits  under Section 501(k) of the USA Food, Drug and Cosmetic Act&hellip from the U.S. Food and Drug Administration&hellip .If Aytu completes the Clearance, Aytu shall maintain exclusivity for the remainder of the term of the Agreement&hellip &rdquo   (emphasis mine) It goes on to say:  &ldquo The Agreement is  likely to contribute positively to the revenue of the Company for the current financial year ending 31 December 2020. However, the Company is unable to quantify the financial impact as there are no minimum purchase quantities  beyond the first three months of the Agreement.&rdquo   (emphasis mine) That announcement followed a series of earlier announcements which helped push the price and trading volume of Biolidics up, as shown in the following chart which I posted with my earlier April 26 article. As I expected, the distribution agreement with Aytu was terminated. This was announced by the company on June 28, more than two months after the earlier announcement. The latest announcement tried to put a positive spin on the bad news by saying that the company has decided to pursue a &ldquo Development Project&rdquo with Aytu instead, and will withdraw the test kits from the US market. No specifics were provided about this so-called &ldquo Development Project&rdquo ,  the terms of which were said to be in the process of being negotiated and the two companies having said to have signed a &ldquo non-binding letter of intent&rdquo . Given the company&rsquo s past track record of questionable disclosures, investors would be well-advised to disregard this so-called &ldquo Development Project&rdquo . Biolidics now said that the two parties had mutually agreed to terminate the distribution agreement with effect from June 27, 2020, and to release the claims of the other party of all obligations and duties pursuant to the terms of the termination agreement. It added that under the termination agreement, the company &ldquo is obligated to process a full refund in favour of Aytu for all deposits paid by Aytu with respect to undelivered orders of the COVID-19 Antibody Test Kits&rdquo . The company also intends to voluntarily withdraw its application to the US FDA for the test kits and therefore they will no longer be available in the US. On July 3, the company responded to a series of questions from SGX regarding the termination of the distribution agreement.  The company now disclosed that the company had to date only delivered 13,000 of the test kits to Aytu. Recall that the original announcement on April 23 said Aytu had a binding commitment to purchase 500,000 test kits by April 24. While SGX&rsquo s questions are pertinent, the company&rsquo s responses do not address the following: a. Why did the company not announce earlier that it had only delivered 13,000 of the 500,000 test kits, which Aytu was supposed to have acquired by April 24, when the original announcement said that there was a binding commitment for Aytu to buy 500,000 test kits by the next business day? b. If 1.75 million test kits were expected to be purchased by Aytu by July 23, 2020 to retain exclusivity, and only 13,000 had been delivered by June 28, why did the company not announce this timely? Surely the company did not expect that most of the 1.75 million test kits would be purchased in less than the one month remaining based on the original distribution agreement, especially given how the market for the test kits had continued to become more highly regulated and competitive since the company&rsquo s original announcement? c. Why did the company agree to give a full refund, including for the 13,000 test kits that had been delivered, given that Aytu had a binding commitment to buy 500,000 test kits? Why is that in the interest of the company? d. The original announcement also said that Aytu will pay for the clinical trials processes to complete and obtain clearance from the US FDA for the test kits. When did the company become aware that this was not proceeding? Following the company&rsquo s announcement about the termination agreement on June 26, its share price fell by 22% by the close of the next trading day, on June 29. Trading volume on June 29 was about six times that of the previous trading day. Clearly, the information about the termination is material. While SGX&rsquo s latest queries and previous queries are good ones, the regulators should conduct a full investigation of possible disclosure breaches, market manipulation and insider trading, starting from the around mid-March. Where there are breaches, those responsible must be held accountable. The Biolidics case is just the latest blow to the credibility of the market. brchkho1      ( Date: 05-Jul-2020 11:08) Posted: Please go thru Mak Yuen Teen' s write-up on this Co. https://governanceforstakeholders.com/2020/07/05/biolidics-disclosures-are-simply-unacceptable/
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Starship Supreme	05-Jul-2020 11:49        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Another YuuZOO in the making?.......................... BIOLIDICS&rsquo DISCLOSURES ARE SIMPLY UNACCEPTABLE Mak Yuen Teen Jul 5, 2020 &ldquo Biolidics in a Nutshell&rdquo raising further questions about the value added by Biolidics with respect to the test kits, given that it neither developed nor marketed it &ndash even though my own university, where Biolidics began as a startup, seemed to have misunderstood and mis-stated Biolidics&rsquo role in the development of these test kits. I also questioned the market potential for Biolidics&rsquo test kits in a crowded and rapidly evolving market for similar test kits and other diagnostic tests for Covid-19. It seems that bad habits are hard to die, especially if regulators are  too slow in calling out questionable conduct and initiating investigations. The recent announcement by the company of its termination agreement with Nasdaq-listed Aytu Bioscience is the latest case of questionable disclosure. On April 23, 2020, Biolidics had announced an &ldquo exclusive distribution&rdquo agreement entered into that same day with Aytu. Under the agreement, Aytu was said to have committed to buy 1.75 million test kits within the first 3 months from Biolidics. The announcement specifically said:  &ldquo Under the terms of the Agreement, Aytu has a  binding commitment to purchase  from the Company  an initial 500,000 COVID-19 Rapid Test Kits within one business day  from the date of the Agreement. Aytu is  required to purchase from the Company no less than 1,250,000 COVID-19 Rapid Test Kits within the first three months  from the date of the Agreement in order to retain exclusivity (the &ldquo Minimum Exclusive Commitment&rdquo ). All third party orders arising from Biolidics&rsquo own referrals and sales will not be included in this Minimum Exclusive Commitment.&rdquo   (emphasis mine) It adds:  &ldquo Further,  Aytu  shall pay for and lead the clinical trials processes, to complete and obtain clearance for the COVID-19 Rapid Test Kits  under Section 501(k) of the USA Food, Drug and Cosmetic Act&hellip from the U.S. Food and Drug Administration&hellip .If Aytu completes the Clearance, Aytu shall maintain exclusivity for the remainder of the term of the Agreement&hellip &rdquo   (emphasis mine) It goes on to say:  &ldquo The Agreement is  likely to contribute positively to the revenue of the Company for the current financial year ending 31 December 2020. However, the Company is unable to quantify the financial impact as there are no minimum purchase quantities  beyond the first three months of the Agreement.&rdquo   (emphasis mine) That announcement followed a series of earlier announcements which helped push the price and trading volume of Biolidics up, as shown in the following chart which I posted with my earlier April 26 article. As I expected, the distribution agreement with Aytu was terminated. This was announced by the company on June 28, more than two months after the earlier announcement. The latest announcement tried to put a positive spin on the bad news by saying that the company has decided to pursue a &ldquo Development Project&rdquo with Aytu instead, and will withdraw the test kits from the US market. No specifics were provided about this so-called &ldquo Development Project&rdquo ,  the terms of which were said to be in the process of being negotiated and the two companies having said to have signed a &ldquo non-binding letter of intent&rdquo . Given the company&rsquo s past track record of questionable disclosures, investors would be well-advised to disregard this so-called &ldquo Development Project&rdquo . Biolidics now said that the two parties had mutually agreed to terminate the distribution agreement with effect from June 27, 2020, and to release the claims of the other party of all obligations and duties pursuant to the terms of the termination agreement. It added that under the termination agreement, the company &ldquo is obligated to process a full refund in favour of Aytu for all deposits paid by Aytu with respect to undelivered orders of the COVID-19 Antibody Test Kits&rdquo . The company also intends to voluntarily withdraw its application to the US FDA for the test kits and therefore they will no longer be available in the US. On July 3, the company responded to a series of questions from SGX regarding the termination of the distribution agreement.  The company now disclosed that the company had to date only delivered 13,000 of the test kits to Aytu. Recall that the original announcement on April 23 said Aytu had a binding commitment to purchase 500,000 test kits by April 24. While SGX&rsquo s questions are pertinent, the company&rsquo s responses do not address the following: a. Why did the company not announce earlier that it had only delivered 13,000 of the 500,000 test kits, which Aytu was supposed to have acquired by April 24, when the original announcement said that there was a binding commitment for Aytu to buy 500,000 test kits by the next business day? b. If 1.75 million test kits were expected to be purchased by Aytu by July 23, 2020 to retain exclusivity, and only 13,000 had been delivered by June 28, why did the company not announce this timely? Surely the company did not expect that most of the 1.75 million test kits would be purchased in less than the one month remaining based on the original distribution agreement, especially given how the market for the test kits had continued to become more highly regulated and competitive since the company&rsquo s original announcement? c. Why did the company agree to give a full refund, including for the 13,000 test kits that had been delivered, given that Aytu had a binding commitment to buy 500,000 test kits? Why is that in the interest of the company? d. The original announcement also said that Aytu will pay for the clinical trials processes to complete and obtain clearance from the US FDA for the test kits. When did the company become aware that this was not proceeding? Following the company&rsquo s announcement about the termination agreement on June 26, its share price fell by 22% by the close of the next trading day, on June 29. Trading volume on June 29 was about six times that of the previous trading day. Clearly, the information about the termination is material. While SGX&rsquo s latest queries and previous queries are good ones, the regulators should conduct a full investigation of possible disclosure breaches, market manipulation and insider trading, starting from the around mid-March. Where there are breaches, those responsible must be held accountable. The Biolidics case is just the latest blow to the credibility of the market. brchkho1      ( Date: 05-Jul-2020 11:08) Posted: Please go thru Mak Yuen Teen' s write-up on this Co. https://governanceforstakeholders.com/2020/07/05/biolidics-disclosures-are-simply-unacceptable/
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brchkho1 Master	05-Jul-2020 11:08        brchkho1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Please go thru Mak Yuen Teen' s write-up on this Co. https://governanceforstakeholders.com/2020/07/05/biolidics-disclosures-are-simply-unacceptable/
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Stockgod39 Member	05-Jul-2020 10:23        Stockgod39 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Some good news for y' all:  ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- https://www.straitstimes.com/singapore/health/vaccine-will-not-be-silver-bullet-to-end-pandemic-virus-expert There may be hiccups along the way - the vaccine may not protect as much as expected, it can fail, or it can produce an undesirable side effect. The world does not have the manufacturing capacity for billions of doses at the moment, neither are there enough glass vials available. " When you hear some politicians or public health figures say, okay, we need to do all this and next year we' ll have a vaccine, and we' ll go back to normal. I think, forget it, a vaccine is not going to be a silver bullet," he said. " If we have a 70 per cent effective vaccine, I think I would consider that a big success.' ' ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Seems like covid testing kits will be needed for a long time to come. Gonna put even more money in Biolidics now
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Starship Supreme	04-Jul-2020 19:27        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Biolidics elaborates on scrapped deal with virus test kit distributor in the US FRI, JUL 03, 2020 - 11:48 PM CATALIST-listed company Biolidics issued a statement on Friday to explain why its deal with Aytu Bioscience to distribute its novel conronavirus antibody test kits in the US has now been scrapped.  Biolidics said, in a statement responding to the Singapore Exchange' s queries, that it has refunded all the deposits paid by Aytu for all undelivered orders, after the parties' mutual agreement to terminate the distribution agreement. Biolidics had announced earlier this week that the decision came about amid increased competition for such kits.  It said Aytu had a binding  commitment to purchase an initial 500,000 kits by April 24, and had placed an order and made a deposit for 500,100 kits. By June 28, Biolidics had delivered 13,000 test kits to Aytu, which was to have been its sole distributor in the US. Biolidics has recorded revenue for these 13,000 kits. Biolidics is not required to make any compensation, and is keeping mum on the quantum of the refund, citing commercial sensitivity as a reason. Aytu will return the 13,000 test kits to Biolidics, but no refund to Aytu is required for these returned test kits. Biolidics said it intends to distribute these test kits to other markets outside the US. https://www.businesstimes.com.sg/companies-markets/biolidics-elaborates-on-scrapped-deal-with-virus-test-kit-distributor-in-the-us
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Sgvale Supreme	04-Jul-2020 18:34        Sgvale About Contact  Quote this Post!
x 0   x 0  Alert Admin	Their core business is cancer research leh. Sudden focus become test kits? However if Biolidics can mass sell successfully its antibody test kits model to whole of Asia market alone can already tua tua Huat !
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Vanpersie Senior	04-Jul-2020 14:46        Vanpersie About Contact  Quote this Post!
x 0   x 0  Alert Admin	There is one encouraging piece news in the entire response to SGX query, see question 5 c
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stanleytay Master	04-Jul-2020 14:31        stanleytay About Contact  Quote this Post!
x 0   x 0  Alert Admin	We are in the midst of a pandemic and you have gloves companies trading sky high. Those who keep shouting this company is a scam.. probably cos you all bought it at a higher price. Those who bot UG or medtec at a high also got stuck and making money now. Focus on the fundamentals. Dont get emotional. ST3-trading      ( Date: 04-Jul-2020 12:08) Posted: ya lo . why must be aytu aytu name not so good base on the investor comments ZOg test kits.not exclusive heallight not approving etc Jeremy is far too late to develop home test kits totally scam
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stockman20 Senior	04-Jul-2020 13:58        stockman20 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Unless they can come out with a good news update within a short time frame, it would be difficult to stay afloat in this market considering the competitveness of wide range of similar test kits.  I do believe they still have a good sales in Asia market.
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ST3-trading Senior	04-Jul-2020 12:08        ST3-trading About Contact  Quote this Post!
x 0   x 0  Alert Admin	ya lo . why must be aytu aytu name not so good base on the investor comments ZOg test kits.not exclusive heallight not approving etc Jeremy is far too late to develop home test kits totally scam
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Huat118138888 Member	04-Jul-2020 11:00        Huat118138888 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Seems their business in Asia quite good and.prob less competition than us also. They need to declare their rev soon to. Help us 😣 but they been so. Quiet about their biz wenyen      ( Date: 04-Jul-2020 01:42) Posted: As at the date of the US Market Update Announcement, the Company has delivered 13,000 COVID-19 Antibody Test Kits to Aytu.
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wenyen Master	04-Jul-2020 01:42        wenyen About Contact  Quote this Post!
x 0   x 0  Alert Admin	As at the date of the US Market Update Announcement, the Company has delivered 13,000 COVID-19 Antibody Test Kits to Aytu.
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genny9 Member	03-Jul-2020 22:40        genny9 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Already got paid but  only deliver 13,000 out of 500,000? Asia market demand  too high and higher margin? Question 1 Noted that Aytu had a binding commitment to purchase an initial 500,000 COVID-19 Antibody Test Kits by 24 April 2020. How many COVID-19 Antibody Test Kits have Biolidics supplied to Aytu to date? Company&rsquo s response: As at the date of the US Market Update Announcement, the Company has delivered 13,000 COVID-19 Antibody Test Kits to Aytu. Question 2 Can Biolidics confirm if Aytu has fulfilled the binding commitment to purchase an initial 500,000 COVID-19 Antibody Test Kits by 24 April 2020, and Biolidics is able to record the full revenue from the supply of the 500,000 COVID-19 Antibody Test Kit under the binding commitment? If no, please explain the deviation(s) from the binding commitment. Company&rsquo s response: Aytu had placed an order and made a deposit for 500,100 COVID-19 Antibody Test Kits in accordance with the terms of the Distribution Agreement by 24 April 2020. As at the date of the US Market Update Announcement, the Company recorded revenue for the 13,000 COVID-19 Antibody Test Kits delivered to Aytu. As set out in the US Market Update Announcement, the revenue from such sales is not material on the earnings per share and net tangible assets per share of the Group for the financial year ending 31 December 2020 (" FY2020" ).
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guards80 Supreme	03-Jul-2020 22:33        guards80 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Biolidics: Response to SGX Queries http://repository.shareinvestor.com/rpt_view.pl/id/10181007.1/type/sgxnet/original_filename/1
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