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Unless you are of the same view there is no sense in agreement. Occasionally though, we unexpectedly gain a whole new perspective, or see good sense in others posts.
Current disillusionment is likely about timing as much anything else. At around 18 months into a six year plan, some have realised a profit whereas at the end of a similar term others retain 23% (ish) of capital, unless of course they averaged down.
I agree, Nano is compelling (but still frustrating) which is why I remain, and some moderately good news could put us back above yesterday's value. It is also much closer to break even.
Ddubya
I do understand why investors feel frustrated but that does not mean I agree with them. Many fledgling businesses struggle to earn sales for a long time, it’s a normal learning experience. Add to that Nanoco’s nascent technology and the size of incumbent customers and their resistance to change and you have a recipie for delay and struggle. However, there are two sides to the coin because if it was easy someone else would have succeeded first and the prospective rewards would not be worthwhile.
That for me is what makes this a compelling investment. I’m an Engineer and Designer with sales and marketing training so I’m able to get a shallow understanding of the technology and what it will achieve. I’m not a trader but an investor. I have a six year plan so I’m looking for stocks that will grow in that period, which is not long by stock market standards but a lot longer than most posters appear to want to hold and that I think is at the nub if all the frustrations we see expressed here and the differences in perspective we all share.
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by the way total revenue was £3.3m and cash grew, presumably due to tax refunds on R and D. With expenses roughly £600k per month the revenue was roughly 90% of break even, without the tax refund. Now, the Edison note has a section headed ‘next events’ at the bottom right of the page. For September 11 it gives ‘Capital Markets Day. The cash position is strong, probably enough for 2 years with a little more income, so is Nanoco looking to fund another expansion? It might be, it has a great deal of very clever IP yet to bring to market.
Yes NigWit. Edison phrase it as "...(royalty payments (from the tier 1 partner and others)", suggesting all customers pay via the same royalty method and reliant upon NANO IP, as you suggest.
Well done to you and BtB for being in profit but today does help to explain why investors find NANO so frustrating. I just hope the minimum six-month delay does not also indicate technical difficulty?
Undoubtedly another set of lacklustre financials but also a change of direction in sales and perhaps more potential to surprise in a positive way.
Interesting. A royalty suggests that the partner is paying Nanoco for their IP.
'At this stage, we are treating the capex funding from the major partner to expand the Runcorn facility as a loan. We understand this will be paid pack through a royalty on volume shipments once they commence. Hence, our FY18e year-end net cash position is now comprised of £10.7m cash with £2.8m debt (previously no debt) relating to this structure.'
These are estimated figures. I would suggest that this credit is either deferred milestone payments or the credit due for the r & d tax credit. It may also be money from the partner to fund the capex.
It's all a bit opaque and the figures are Edison's guess so take the balance sheet with a large pinch of salt.
Why do you have to keep making personal attacks on everyone? This is the stock market but you behave like it’s the infants’ school.
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The company just reported that it sold more QDs than ever before, has banked more money and has a strong balance sheet. Edison have added some much needed balance and perspective. In April 2017 when last year’s interim results where announced the SP fell 20% but it took only a few days for the market to regain its poise. I expect deeper thinkers, like Edison, will see this as another buying opportunity.
Short term borrowings 2.8?