Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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CAP-XX Limited
("CAP-XX" or the "Company")
Trading update
CAP-XX Limited, a world leader in the design and manufacture of supercapacitors and energy management systems, provides the following update.
Following the successful completion of the recent fundraise, the Board is pleased to announce that current trading on existing products remains strong, in line with management forecasts, and trial shipments of pre-samples of new product have recently commenced. Bookings and billings are 14% and 56% ahead respectively for the year to date compared to the comparative period in 2023, along with a current book to bill ratio of 1.12. The order backlog remains strong at close to US$1 million.
As previously stated, the proceeds from the fundraise are being used to improve the Company's financial position and provide working capital for investment. Key areas for investment include the continued expansion of the sales representative and distribution network, and working capital for the market introduction of the new DMH and SMD products. The vast bulk of the development costs of the latter has already been incurred, although some final commissioning of the DMH production line remains. An initial pre-series batch of fully functional DMH product is currently under lab evaluation and SMD testing remains on track. In addition, the Company expects to announce further patents during the next three months.
The Board considers that, apart from the final settlement of legal costs associated with the Maxwell/Tesla litigation, which it does not consider material, the only remaining payments for legal costs will be normal ongoing corporate legal expenses, including, for example, those associated with applications for patents.
In addition, the Company has implemented a comprehensive cost reduction program, which has delivered annualised operating cost savings in excess of US$0.5 million, and is expected to ensure that CAP-XX successfully overcomes its recent challenging phase.
The target for breakeven remains in the 2026 calendar year, assuming billings maintain their current growth trend. This is being supported by the recent investment in CAP-XX's international direct sales and marketing, the expansion of the distributor network, together with design wins and billings from our new product families, DMH and SMD, which will contribute in 2025 and 2026 respectively.
Following the conclusion of the financial year ending 30 June 2024, CAP-XX intends to provide a comprehensive update to investors on products and markets and corporate strategy at a Capital Markets seminar, which will be hosted on-line, details of which will be issued in due course.
Lars Stegmann, Chief Executive of CAP-XX, said "I'd like to thank our shareholders for their continued support. We look forward to the next exciting phase for the Company, as we prepare for our new product launches, supported by a strengthening sales and distribut
Well if that RNS was designed to encourage buys to churn through the Placing shares I think its failed!
Nothing new....
Hardly worth posting was it π€¦
Ah well down she goes some more
Not much encouragement for LTHs but for newbies the likely SP could provide a trading opportunity imo....
Summary of the key points from the CAP-XX Limited trading update:
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Strong Current Trading: Bookings and billings are significantly ahead of last year, indicating continued demand for CAP-XX's existing products.
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Progress on New Products: Trial shipments of pre-sample new products have begun. Development costs have largely been incurred for new DMH and SMD product lines.
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Improved Financial Position: Recent fundraising has strengthened the balance sheet, allowing for investment in sales/distribution expansion and supporting the launch of new products.
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Reduced Legal Costs: Significant outstanding legal costs related to the Maxwell/Tesla litigation have been mostly resolved.
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Cost Savings: Implemented cost-cutting measures have achieved US$0.5 million+ in annualised savings.
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Positive Outlook: The overall report suggests a positive trajectory with healthy demand, new product development on track, and an improved financial position.
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Sales Expansion: Investment in sales and distribution should fuel further growth for existing product lines.
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New Product Promise: DMH and SMD product launches, planned for 2025 and 2026 respectively, could significantly boost revenue.
Investor Confidence: The company's improved cost management and clearer path to profitability should build investor confidence.
Capital Markets Seminar: The upcoming seminar will provide investors with an in-depth look into the company's products, market strategy, and future direction.
Excellent news!
Time to load up and make some money! 1.5p Gap to fill
Breakeven 2026...supposedly AGAIN!
How many more shares issued between now and then?
Ever increasing sales team...more mouths to feed.
Where's the increasing sales?
Company saved and on the up. Massive rebound in cap beckoning.
Oooh shorts itβs goons be a sad period you lot.
This is now on the road to recovery.
Good money to be made from this entry price.
Looks like today could see a nice uptick this price is so low, great entry price we should break .10 easily today.
Gap .15 to fill that can be done in a day itβs been done before and could be done today.
We are primed for a reversal play now. The RSI is indicating oversold conditions, coupled with a strong buy rating.
Come on, Tesla, and put in a bid to buy out CPX, while Dr is increasing his holding to 10% now.
Why would Dr Cooley keep increasing his holding here, folks? Do the math; he's lining up for a takeover
Sellers coming back to buy. It's all about getting in early doors.