Surface Transforms Share Price (SCE)

You've got average down son. sooner the better

The numbers will be interesting. Most of our cash has gone on the expansion. Now we have the loan ringfenced for capx the proceeds of the fund raise should last until cash flow positive. Sounds like the operational efficiencies are improving so maybe there’s a nice surprise and that comes earlier than expected.

IMO you’ve got to see it as a new investment, forget what you put in before. If you’d rather invest elsewhere do that.

I keep reading comments from SCE and brokers along the lines of Zeus' note; "The production team has now removed almost all the single points of failure and scrapping rates have reduced significantly in the past two months."

But how do we know? How can we have any faith that the manufacturing process has been/ is being fully resolved when we have been fed a whole bunch of bulls**t since last September (and possibly longer)? Unless manufacturing is sorted they will just burn through this cash as well. It's a pure leap of faith.

I'd appreciate other's views here because as a long term holder I've been wiped out. I either do nothing and need a 40-bagger to break even, or average down and "only" need a 10 or 20-bagger! It's an appalling Hobson's Choice.

Thanks for the post, the debt covenants issue will likely be that there are potential debt serviceability covenants that ST was in risk of breaching due to the delays, and those needed to be renegotiated to avoid triggering a default. Remember that these furnaces are apparently unique to ST and their process, therefore from a lender's perspective they've very little value as collateral, if these were HGV's or other ubiquitous assets with readily ascertainable market value, a simple Asset Based Lending facility could probably be achieved on a light to no covenant basis.