Member Info for banaman

Full of promise, never deliver.

What is going on here ? Where is the commercial product ? Where are the order ? When will they need more cash to keep going and funding AB's over inflated salary ?

Another year drifts by and still nothing. Just looks like a group of people creaming off the investor. They should be held accountable and start earning their income.

Nothing negative, just stating facts. The size of the system was to be between 200kw and 400kw. I assume this is because Southern Oil did not know exactly how much hydrogen they can deliver to a system and therefore the system size cannot be determined. I don't think that a lack of commitment in hydrogen volume results in a fuel cell size below that specified in the original RNS.

Notes, I think you will find a number of people wishing to attend the AB slapping. I imagine some people invested here are 10s or 100s of thousands of pounds down at the moment. This is disgusting.

If I was him I would be going into hiding if this does not exceed the high of 82p. I can't believe some of the bigger investors would just let this drift without a word in his ear. RA bought in much higher. We know he can afford it but it's nothing short of taking the p**s out of him. AB must be a very brave man.

Notes, I think you will find a number of people wishing to attend the AB slapping. I imagine some people invested here are 10s or 100s of thousands of pounds down at the moment. This is disgusting.

If I was him I would be going into hiding if this does not exceed the high of 82p. I can't believe some of the bigger investors would just let this drift without a word in his ear. RA bought in much higher. We know he can afford it but it's nothing short of taking the p**s out of him. AB must be a very brave man.

Never HIT.

HIT

News was due end of September early October. That has passed. Where is the contract news.

Never hot a time frame.

Ever !

Anyone familiar with this. Just seen it on LinkedIn at the start of Green week.

https://hynet.co.uk

Very interesting.

Oooh Eddietheo, I feel like I have just been told off. I am not sure it's my behaviour that is an issue. The behaviour of directors paying themselves ridiculous salaries from share holder capital and thus far producing a negative value to the business is bad behaviour. I am surprised you feel this is acceptable.

We are all entitled to vent off.

What a joke.

Amazing shareholder value Adam.

You clown.

8 years I have held these share in the hope that by now shareholder value would be realised.

As I said, my 8 year could do a better job.

Muppets

Over promise and under deliver.

F*** wit directors should be giving their salaries back to the loyal shareholders. My 8 year old daughter would add more share holder value than those nuggets.

What a bunch of bull*hiters. Absolutely zero credibility or charisma. Would love to go nose to nose with them.

What are they doing all day. They need to get their fingers out of each other's ar*e and stop sucking their thumbs and start earning their salaries. At the moment it appears they are just taking the money at shareholder expense.

W*Nke*s

Where is shareholder value ??
Where are the directors when the value of the company has dropped on no new ??
There are supporters of AFC that have been here longer than the board. It is a complete lack of respect for shareholders and even institutional investors. These people should be held accountable for their lies.

What the f*** is happening here ???

I would expect that AFC will always be looking for staged payments not just for engineering but also manufacturing and installation. Why would they look to fund a project themselves or with share holder money when most manufacturing contracts will be designed in a way to cover the material outlay and manufacturing costs as they occur.

I do not see that they would need to raise capital to produce a commercial product. Lets hope any profit made will support the business overhead.

What a f***ing joke. I am going to have to free up some money and average down. That's assuming I can actually buy some at this price in a large enough volume. Corrupt !!!

ayoung555. They have reported £4m in the bank at end of April plus they will or will have received a further 700k from the EU. They are currently burning at a rate of about £4m a year so have until the year end before they may need cash.

If they receive orders I would expect them to fulfil the contract by stage payment and therefore receive enough upfront to cover the cost of materials. This is usually followed by further payments as work progresses. The final payment would be more or less the profit remaining in the contract. Most engineering companies work this way with the product and materials being vested payments. This would then leave the £4m as operating costs. Don't forget they have achieved a lot in the last year and I would expect most of the cash to have gone in to engineering and design changes plus associated testing. I do not feel they will have quite so much of this to do so cash burn may actually be a little lower over the next 12 months from April.

It is the off grid back up power that is very interesting. The link provided last week involving GenCell I believe, supports this market and its size. Providing a significant reduction in cost to power in remote locations is a no brainer.

Now the tech is proven the MCap of the company should move higher based upon the IP alone.

Very positive and a long time coming. Well done to everyone for sticking it out and keeping the belief that the product really can be a game changer. We are no just about to find out.

Hopefully just the start of a stream of great RNS's

Its been a long time coming

As with most commercial contracts in engineering there is a series of stage payments. The first being made on award followed by another on order or receipt of materials. I expect there to be further milestone payments made throughout manufacturing which would intimate that there would be no need for a fund raise to allow AFC to deliver a contract. They have a cash balance to allow the business to operate and hopefully would return a profit on commercial orders to allow them to continue to operate and expand.

Not sure why a fund raise would be needed.

Now we have achieved a commercial milestone the MCap looks light weight considering the potential value of the intellectual property. That is years of development to get to this point which is essentially a green energy product which is commercially viable.

Can't put a value on this at the moment but I expect it to be the most valuable fuel cell business in the world. Based on industry buying the product based on its commercial viability and not just green credentials.

Its been a long wait. Been holding since January 2010. Hopefully the share price will gain some momentum and a few more commercial orders will come in before long. The RNS certainly implies this is the first and not the only. Companies are slow on the uptake but with the first mover in then this should break the ice.

The industry application is not even where I expected the first order to come from. However, this is great news. where this could be in 3 years time is anyone's guess.

Well done for holding on those that have been here since the start.