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Partly because they appear to be earning some decent revenue already from the agreements with lindab and metrotile and because back in May they raised £500k which was used to pay back loans. that's now done and their monthly spend isn't that high. That's what I'm hoping for anyway. I think they'd crush any sentiment before it's begun if they smashed existing share holders now for a huge amount and rewarded lths with huge dilution.
Things might look very different here by year end. Very different.
Hi Roger. What makes you so confident they’d only need 500k?
Not much excitement in the sp but I’m excited for sure.
There’s income coming in and if they need to raise I think it’ll only be £500k or so.
This possible JV could be transformational with a capital T!
If it comes off then the sp will quickly be above 3 or 4p so I don’t quite understand the lack of interest today. Perhaps their record of staying silent for such long periods isn’t to many investors’ taste.
A better day though for sure so I’ll take it!
Yes it's a big one if it moves from MOU to full JV. Trouble is you keep coming back to the funding situation.
I owned them when they were much higher but sold out on poor newsflow.
At this level, they are worth a punt. Can easily see a big rally over the course of days / weeks from these low levels. Recent news has been much better, including today.
All IMHO DYOR
Happy
Not the RNS I was expecting but I’ll take it!! That sounds like a pretty good one to me
And yet their most recent item on the News page of the Verditek website is from October 2020. Alas.
I'm looking forward to any official update and to see if any values are put on this latest MOU and how much will be recognized as revenue as stated in the report:
"As a result of these collaborations, the value of order intake in the first half of 2023 is approx. £395,000 versus £232,000 in the first half of 2022. The majority of the order intake will be recognized as revenue in the second half of 2023."
OHS
Schlum - I've been following Verditek for a while now. Seems they have lots in the pipe line and some good incorporations of their products with the likes of the metrotile eQube. I literally found this latest news whilst doing my Monday morning research search and came across the article! May see an RNS later today or this week but I don't think it's necessary to report every contract / MOU is it? Not many shares about as I'm struggling to find any to add to my pot!
OHS
That is good news. Now roll them out across the U.K.
Nice bit of news:
https://evriderz.com/news/evriderz-and-verditek-plc-partnership-for-solar-charging-stations
OHS
I find it worrying the company are Sooo quiet for so much of the year.
Roger - I want to say no based on the last report but then again, they do allude to revenue streams that may increase cash pot:
"Events after the reporting period are described in Note 26 to the financial statements. Following receipt of the proceeds of the bond issue and repayment of the Crowd for Angels bonds, the Group had cash of approximately £290,000 at the end of May 2023."
Note 26: "In May 2023 the company raised £500,000 before expenses by the issue of Secured Convertible Loan Notes"
But the Going Concern states this:
Going Concern
"The Directors believe that the Company and the Group as a whole have adequate resources to continue in operational existence for the foreseeable future. There is a risk that the Group may need to raise additional funding in the next 18 months to fund ongoing operations, and therefore acknowledge that there is material uncertainty around going concern in this respect".
And.....
"As a result of these collaborations, the value of order intake in the first half of 2023 is approx. £395,000 versus £232,000 in the first half of 2022. The majority of the order intake will be recognized as revenue in the second half of 2023."
OHS
Have VDTK got any cash left?
I'm still in. To be honest, at this point, there are some big gains to be had. I think the company still has potential. A little more communication would be nice though.
Other than results and AGM there has not been a single word from the company in over 4 months. A third of the year where investors are meant to quietly sit on their hands and just hope that things are going well.
Simply not good enough. No wonder the sp is once more on the wane. People simply becoming disenchanted and disengaged because the company won't tell them anything at all about what's going on now, near term or any time in the future. Anyone any thoughts or am I the only investor left here?
Slowly on the decline yet again. Not really sure what else the company expects when it gives such little information out about anything the company is up to or working on at the minute.
Comms are appalling. No excuse.
Ah I see those are not the same installations.
If these are cropping up all over the territories where Metrotile and Lindab operate then things are on the up.
I'm looking forward to some news soon as things have been very quiet, other than the AGM of course but there was scant news offered from that. Not heard anything from the CEO for ages on anything happening in Thailand either. I am hoping for some kind of contract news there in the near future too.
Not at home today so don't have level 2 to see what's suddenly dropped the price.
Anyone any clue pls? Just thought I'd buy some more to get the sp back to a more respectable looking 1.2 or 1.3p but it offered me 1.07p. Needless to say I took it up.
Silly things going on at ITS today so maybe someone is shifting money over there for a quick gain and will then be back after tomorrow or by the end of the week once that madness calms down?
Is that The installation you posted a link to in Denmark recently?
Actually looks like a residential installation. If these panels start being used in homes in Scandinavia as well as commercial properties the outlook will be bright for VDTK. Very bright.
Don't know if we're expecting any news at the moment but it's a shame if they don't feel confident to put anything out because of that fungal infection TW.
Thanks for posting. Reassuring to know more installations are going ahead. Would be great to have an announcement to help reverse recent sp movement. One day Rodders, one day…
Nice pictures of another Lindab Solar Roof going on in Denmark using the verditek panels.
https://m.facebook.com/story.php?story_fbid=pfbid0ixAaTxzdvSSGfKMfo3f4wpn5hTaA2jScPuoEWvr47ehkaZ1QK8GGe6d5Pr8Y4F86l&id=100067890451162