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I see the company are taking what's left in the bottom of the kitty by awarding themselves redundancy money..
Thanks Nanonano. I expect they’ll all be brushing up on their CVs.
If you want to know who is who, they're listed on the website-
https://www.appliedgraphenematerials.com/meet-the-team/
Are any of the publicly traded UK Graphene companies doing well. Will Haydale, VRS etc. go the same way?
I've said before that these companies would perhaps do well to consolidate their technology and operations. Perhaps eventually they'll be forced to do so by market conditions.
I looked in the H1 results ..
" Commercial revenues have been slower to develop than we would have liked for the period due to the compound effects of COVID-19 and supply chain challenges across the liquid resins industry.
Many of our customers have been challenged to source the raw materials needed for their standard products and have temporarily refocused resources away from research and innovation, which has led to a slowing of customer evaluation, formulating and testing of our products."
I suspect the current economic situation etc has continued to move resources away from innovation , at this particular time ..which has continued to hamper AGM getting anything from their 192 pipeline possibles ,across the line
H1 does show they have had a number of engagements ....
The worst thing would be for the Chinese to know take hold of all the IP because the UK/USA dont now show any interest
might be worth googling ,gazettelive for article
A very inept and ineffective BOD is the reason the SP is where it is. There are plenty of commercial avenues for this tech, it's just the BOD have no clue whatsoever about business development. Who is their Head of Sales, Sales Director, Marketing Director, or similar? I have tried to find out but I have no idea. Now imagine you're a potential customer..
Zero visibility, zero credibility.
I'm sorry for shareholders, myself included, but some firms deserve their failure. This is certainly one of them.
The Robbers are at it again....Sorry guys get out now!!
Can anyone here explain to me why there hasn’t been any mention of using a Rights Issue to secure the needed funds? They claim to want to protect shareholder value. Isn’t a rights issue the answer to negating the epic dilution for us of external fundraises at current prices? Would be interested to hear your thoughts. Perhaps I’m missing something. Perhaps they think no-one would subscribe.
Well that didn't go well, looks like administration from here in another 3-6 months, either that shareholder wipeout.
If anyone saw RGD yesterday it just proves, if funding can be secured, the SP can rebound. RDG did 100% yesterday and I'd expect similar from AGM when the funding situation is sorted.
A 6 month lead time is simply too short. There should be 3-5 year forecasts, regularly flexed and updated, upon which future finance needs are determined and sourced. 6 months is crisis management and obtaining finance in a crisis is expensive at best.
No real sells over the last four days. Any slight buying pressure will see this return to 7-8p.
Maybe they will have to turn to the Chinese instead .....they are quite keen on this type of IP
Eaglehurst
I suggest that you read the RNS dated 8th July 2022 and you will realise the process started months and months ago....to find potential investors in the US ....the CEO has just recently been over there
Got a sense this will sneak back up to 7p this week. The product is good.
Can't find anything to disagree with that analysis.
To me it looks like management pursued a sh*t or bust strategy with hopes of winning a major contract before the cash ran out, either that or they're totally incompetent at running a business.
The directors admit that AGM is running out of cash and will do so during 1/23. They say that the advice they've received is that the market is not currently conducive to a capital raise. The real question is not how they can raise finance at this late stage, but why have the Directors allowed AGM to get to this state. They must have known a long time ago that finance would or would be likely to be needed. They should have made arrangements then. To attempt to raise finance when you're in need of it is always bad news: fa better to make contingency arrangements in advance. Lenders/investors will only put urgently needed finance in on onerous/fire sale terms: decent terms will only be available to a success story.
I believe that the finance needed will now only be available on terms that almost or totally extinguish the interests of the present investors.
NEVER allow the sharks to get control!!
Dead cat bounce incoming
There may be an interesting discovery but no business here. Maybe a punt at a penny or so with a bit of punting money. Expect to lose the lot and someone will buy the company for a pittance from the administrators. Should never be on any market
yeah..probably need to accept a new CEO if they were to get any further financing .... conditions for any possible raise ..... US CPI figure better than expected , so maybe market conditions improving from here on in ??
Sure but there comes a time when you have to transition from R&D to profitable sales. AGM have had a marketable product with their Genable brand for some time now, but sales have been modest to put it mildly. It appears the executive team have pinned all their hopes on a major contract landing in their laps, or that the institutions would maintain faith in the company, and neither seems to be the case.
The senior executives have some explaining to do.
It was always a R&D company which is ahead of the markets into which it now wants to sell...... you have to develop products ahead of when your markets think they need them ...COVID didn't help, nor the downturn in industrial sectors
One problem is that testing the durability of their products takes a long time ... naturally ...as they are supposed to last a long time
Fat little piggies but at least the IP has an underlying value which will be realised when sold.
£4m a year in costs and about £100k in sales, total reliance on fund raising which it quickly burns through.
Whilst searcing for my next investment I came across AGM.
How can a new technology company go from £4 per share to 6p per share in any market.
Defo looks the board of directors has been dining out on this with their little piggy snouts in the company's coffers.
Maybe watch where the directors next go and avoid.
So sincerely sorry for those that have lost out - I've had a few AIM bummers - the AIM market is full of cowboys and should be abolished