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NEXT-ChemX is down 80% over the last year, and Clontarf is down 70% in the same period.
Something had to be afoot. I had previously requested twice by email to NEXT-ChemX (info@next-chemx.com as published on their website) for updates to be published on the tech pilot plants progress in TX. Nada. Niente. Nichts. شيء . Not even an acknowledgement.
So I did some more digging around for news and came across their Annual Report to 31 Dec 2023(SEC K10 form filed on 1st April 2024) which makes for some very interesting reading. It certainly explains the significant drop in share price as plans and timelines have significantly changed.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1657045/000149315224012269/form10-k.htm
“The Company’s progress towards Market Readiness.
It is always difficult to identify exactly where any technology is to be found along the path to its commercialization and how soon it will be ready for commercial deployment. Throughout fiscal year 2023, the focus was on the design and construction of a controlled pilot system consistent with the needs of the pilot testing phase. In order better to concentrate on this, given the limited resources and knowing that the extraction technology has been proven in the laboratory for a variety of critical materials, the Illinois Laboratory was closed during 2023 and the Company turned to consider the engineering issues using consultants and contractors from India. having proven certain extraction rates, and the ability of the iTDE Technology to operate effectively. This puts us into the second phase. The best estimate for completion of the controlled pilot plant is that it will be operational at the beginning of the third quarter of 2024. If successful, this could lead to operational pilot deployment at customer sites in the first quarter of 2025.”
So there we have it. I wonder how that impacts pitching for the business in Bolivia? Maybe the fact that it has been shown to work in the lab, and that the financial qualification is apparently in place, is enough evidence for now for the Bolivians to keep them in the game.
I guess we will find out soon enough.
And their finances must also be a major contributor to the drop. Not a pretty picture. Debt is high, and they need funds. However it does appear that instead of burying their head in the sand, the company is taking active steps to manage the situation to maintain the company as a going concern Read the K10 for the full breakdown.
@TheBasher
The accounts were filed on 1st April for period ending 31st December 2023, so don't take account of the period January - April 2024, they would no doubt have 'accelerated' things to meet various deadlines.
@rebel100
There is a section towards the end of the filing for significant updates since the year end.
@TheBasher
I doubt they would put anything price sensitive in 'significant updates'.
Everything says the tech works and they’re going for it. Not worried
Be nice to see a leg down this week and take profits. Trade it and make lots more money. Buy at the bottom and sell at the top of the next small unexpected spike. Then let it fall for a better opportunity.
In it for the long run as I am a Proper LTH.
One way or another we will find out. If the company goes bust then so be it. I will lose alot but at least will no longer check these boards everyday
If it goes up to around 0.44 ish I can breakeven
A clearly trusting and naive investor. I would love to do business with you nookie
@rebel100
Hilarious irony in your post!
@pauly80
Ain’t that the truth.
I’m invested, hope to heck that they pull this off but facts are facts.
As are “significant updates”…!
@TheBasher
Hilarious yes, fact for sure.
1. This is patented. You can't patent any old rubbish, it needs to be substantiated and proven that it does what you say to get the patent granted. 2. Do you think it would serve Clontarf well to be boastful or declare to the investor community that they think this is a slam dunk with the Bolivian GOT. How would they take such confidence do you think? 3. Pauly you sound like a classic "me too" investor who invests on news when its generally too late to make hay. I wonder whether you should stick to FTSE 250 firms and dividends rather than speculative AIM stocks. You have to infer a lot and have faith so sniping away is pointless as it just gives you zero credibility. We all know this is a gamble.
I might add Pauly that I can tell you're invested but then why so bleedin negative:_)))??!
Pauly
I pretty much guarantee this will not go bust.
The only way it could possibly do so is if it runs out of cash and can't raise funds. It could still then sell off its assets?
The one positive here for me is how easily Clon can raise cash from its backers? They obviously have deep pockets although as we all know any raise is sold off into the market for a small percentage gain, so its usually very straightforward and easy.
I keep saying if this project has legs then Clon will need cash and plenty of it, outside funding may or may not be available but I guarantee cash will be required.
However, if newsflow is positive the sp should head north making future raises less painful for shareholders.
Just my thoughts.
Mr T
Next ChemX's position is not a surprise - there's been enough indications that they're not a multi-billion profit making company!
I agree, MrT - this isn't going bust and I'm hoping/expecting to see the sp rise again next week if they get through the next gateway.
I also think that there are more deals to be done. Very interesting times for such a minnow of a company.
Thanks Mr Triumph,
Going bust was a bit of exaggeration. While there is money to be paid no way will the BOD let the company go bust. They have been flying around the world and living a good life for the past 25 plus years!
Unless you know something I don't, I am not aware they have any assets than the GOLD VIP AIRPORT LOUNGE membership that DH uses often?
Yes they will need cash and lots of it and over the years dilution has been significant.
FRANKY - It is clear to me you make the 90% of posters on boards like these. keyboard warriors you have just joined the bandwagon and need to say a few things in the hope people take you serious. Its hard to convince people who know a thing about business and the real world. Your a joke and I can see that by your comments on patents. Most educated people know that patents DO NOT have any requirement to provide evidence or working models of an invention working.
Pauly you will find that the practicalities are that your patent needs to do what it claims to do. An examiner is going to pull the carpet on something that doesn t do what it claims and likelier still is that you ll get your ass sued for trying to sell stuff that is falsely advertised. In Clons case it would be truly remrkable if they d registered this knowing it doesn t work and brazenlybtried to sell it to the BolGov . The worst case is that it doesn t work efficiently enough and they have to remodel stuff but for you to sit their and suggest that the whole application is in doubt as the patent is worth jack and therefore the tech is dubious...i ll let.others make their own minds up.
Thanks frankly. Apologies for my previous tone. It’s clear I am getting tired and frustrated and need to hold tight a few more weeks to get clarification on the future of Clon.
I could go on about patents as I have experience and call tell you that many things don’t actually work but get approved - but that will keep us all off task the main focus so will end it here.
A few more week and we must get some confirmed news of whether we are or not successful which is important either way for me.
Hey Pauly - Dont worry about it - You're right I'm absolutely no business guru. Even if I could pick my way through a balance sheet it might help but then any FD is going to be far better at the smoke and mirrors so only gets you so far. We only have thin news and a gut instinct with most investments on AIM including this one. The SP doesn't really worry me or the lack of news. I think its just a binary bet. We get a contract or we don't. We make a killing or not. The upside is much better than 50/50 and worth the risk IMO. I do think that the price of Lithium Carbonate being at the bottom of the cycle has taken a lot of money out of the ring which is now sat in Gold and Silver. 90% crash in the price over 12 months is very unhelpful.