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Why is haggis trying to get other posters on this board to email Adam bond about updating a blog? Along with emailing him about it himself, That doesn’t speak volumes of confidence to me .changed his tune
The fund raise RNS's laid out CLEARLY what the money would be used for, and it is NOT just to keep the business going for 'a few more years', in fact £60m would have been enough to last AFC for 14 years, if they had no other uses for it, which I wouldn't describe as 'a few more years'.
Read the RNS and the details are all in there (just scroll past the main announcement to "Background to, and reasons for, the Fundraising").
16th Apr 2021
Subscription raising £4.75 million from commercial partners
Placing to raise approximately £30.25 million
https://www.lse.co.uk/rns/AFC/fundraising-tkd16mompnxczjs.html
Tue, 30th Jun 2020
Proposed Fundraising to raise up to £30 million
https://www.lse.co.uk/rns/AFC/fundraising-1xonvpbr8bdvudd.html
I'd say all the new employees will burn through a decent amount of the money Bondy. Let's hope they're gainfully engaged in designing and manufacturing FCs for imminent commercial deployment otherwise their salaries will be so much wasted money. Then there's supposed to be the new manufacturing facilities at Dunsfold and UAE, which will have a cost attached. The lack of information coming out of AFC as to how the monies raised last year is being utilised is truly staggering. I agree with your point about Haggis' prolific posting, which although annoying, puts Bond to shame.
Bondy123,
You really haven't a clue about building a new reputable, quality assured, 1st class new green tech energy business. Not one clue.
Garonne, Bond is NOT delivering for shareholders. The gain we have had has been down to the market increase that all stocks in the sector had. He must been thinking all of his christmass's had come at once - Raised £60m - but for what, exactly? I want to know what our funds are being used for. Like, really. I get it will help keep the lights on for a few more years, but then what? How is raising that huge amount of money going to provide more certainty that AFC is going to be a profit making business in a reasonable amount of time. Forget even profit actually, I can wait for that, I mean meaningful revenues - as an energy business that will have been here well over a decade, decent meaning tens of millions in revenue.
If Adam Bond only put in 10% of Haggis's effort to keep everyone informed, we'd be in a much better positon.
Don't think so Alt. Ask yourself this. Is Bond delivering for shareholders?
MLK!
Just noticed US market's closed for MLC birthday.
It's crunch time for Bond. He has to deliver something soon or all his previous rhetoric will be confirmed as nothing more than hot air at best and by some as a deliberate attempt to talk the company up. It's the end of the road for this tactic, nothing less than solid orders will suffice now if the company and SP are to progress. Let's hope the Yanks don't drag us down further this pm!
Never thought I'd agree with anything garonne said, but I some what agree with his comment.
Leopards don't change their spots. Bond's behaviour is engrained. He only communicates effectively when he's trying to pump the SP for a cash call. I see more posters, even Haggis, are getting fed up with his silence. I think the only good solution to this problem is to replace him with someone who will do the job properly and with integrity whilst keeping investors regularly informed.
Maybe a few other people could let AFC know they want monthly updates on the CEO Blog?
During the development phase there would not have been any point in monthly updates, as tangible proven progress every month would not be guaranteed. Considering we are now a commercial company, this would be the right time for monthly updates IMVHO.
I just wrote to AFC asking if AB had lost interest in the CEO blog. He did 1 post in Nov 2019 when he started the blog, 9 posts in 2020, 4 posts in 2021.
I said:
"My understanding was that the Blog was a way for Adam to inform investors of progress or happenings that were not worthy of an RNS, and to fill the void between RNS."
What I (and I believe many other investors) would like to see posted on the Blog, is a monthly update on activity. No clients need to be named, it could also include monthly KPI's, something like:
New clients entered the pipeline 11
Client meetings completed - 27
Projects - early stage - 20
Projects - planning stage - 18
Projects - awaiting customer response to quotation - 22
Project split
HFC 22
L Series 18
S Series 20