The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
From the previous trading statement:
As has been referenced in various trading statements, in the first half of 2021, the business received a commitment from a second US end customer for conversion to our biodegradable coffee filtration material. Whilst the end customer has been purchasing regularly in the last eighteen months at limited levels, the subsequent expected acceleration of revenues has been constrained by various matters. These constraints are now clearing and a substantial increase in orders for this customer has been received for delivery in Q4 2022. Fulfilment of these orders in the coming weeks is expected to double the year's revenues from this source. Further, there are reasonable grounds to believe that this increased offtake rate will persist into 2023.
From the Bleepa website:
https://bleepa.com/a-conversation-with-sharon-donald-sales-manager
Good news coming I feel.....
Do we know if there is a trading update this week, looking at past updates it could be on Thursday?
From Cenkos Report - 15th November 22 :
'a significant impact on near-term revenues, helping CAP-XX in this breakthrough year to profitability, but also provides significant longer-term upside.'
Sales of these large high value products can make a significant impact on near-term revenues, helping CAP-XX in this breakthrough year to profitability, but also provides significant longer-term upside. With value clearly being demonstrated through the growing product portfolio, and upside left in a number of areas such as litigation and new licensees, we continue to believe CAP-XX is significantly undervalued and iterate our Buy recommendation and 14p DCF based valuation.
Three Directors listed, Tom being one, Anesh another and then there is AMIT TIWARI who seems to have his fingers in a lot of pies in India... https://www.tofler.in/amit-tiwari/director/07380812
Well spotted PR, I like this bit; the technical partner being referred to being Feedback Medical:
PAGE 14 The Board had approved the full business case for the QVH community diagnostics centre (CDC) at its private meeting on 1 September. IF, clinical SIRO for Sussex CDCs provided some feedback from a recent meeting and reported that QVH continues to lead the diagnostic breathlessness pathway nationally and had been applauded for work completed to date and innovation with its technical partner. QVH has been nominated for a national
award for being a major disruptor.
With the push being to reduce NHS waiting lists, this is looking very good.
Not long until lift off....... :0)
https://www.qvh.nhs.uk/wp-content/uploads/2023/01/Papers-PUBLIC-BOARD-12-January-2023.pdf
• Referrals continue to be received through the digital platform Bleepa (which connects QVH with primary and secondary care colleagues), for the breathlessness pathway.
• The Full Business Case (FBC) has been approved by the national team, including the agreed changes to the capital allocation. Awaiting the LOA.
• Individualised tests active on the clinical system ICE, linking in with primary Care colleagues to promote.
• Workforce for physiological tests for Health Care Assistants and Pathway Coordinator is completed, start dates in place.
I would expect Cap XX to be manufacturing these DMT220 prismatic supercaps for Continential from mid 2023, as production of these cars will be prior to 2024. "The Sourcing Agreement for this design win covers the expected volumes for the model years 2024 through 2030."
The model year is the year the manufacturer puts on the car and most often refers to the year in which the car is intended to be launched, meaning to say that a car manufactured during the fall of one year can be given a model year for the following year.
Director Dealings
Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the frontline clinical technology company, announces the following Directors' dealings:
Rory Shaw, Non Executive Chairman, has subscribed for 22,270 New Ordinary Shares at a price of 89.8 pence per Ordinary Share.
Philipp Prince, Non Executive Director, has subscribed for 4,531 New Ordinary Shares at a price of 89.9 pence per Ordinary Share.
Annemijn Eschauzier, Non Executive Director, has subscribed for 5,440 New Ordinary Shares at a price of 91.9 pence per Ordinary Share.
New India specific Bleepa Website:
https://bleepa.com/in
Revenue for the Period is expected to be c.£0.6m (HY22: £0.2m), up approximately 200%. Cash and cash equivalents as at 30 November 2022 is expected to be reported as c.£9.2m (30 November 2021: £11.4m).
So £9.2 million in cash and Market cap of only £11.4 million, £0.6 million Revenue for the period.
"The Company continues to discuss contracts with multiple potential partners across NHS Trusts and CDCs in addition to working on pilot programmes in India. These opportunities provide the potential for significant upside with a growing number of routes to markets and end customers underpinning the Board's confidence in continued strong growth for the remainder of the financial year."
More info on Cap XX IP Infringement cases from Cenkos report:
In the case of AVX, CAP-XX has been successful in getting AVX to result royalty payments, with these in FY22 effectively the same run rate as it previously received in FY21. However, we understand that CAP-XX is still disputing the level of royalty payments believing these should be greater.
In terms of the Maxwell case, CAP-XX has secured an offer for litigation funding which is expected to soon be in place to cover the legal fees in FY23, subject to the completion of due diligence from the litigation funder. The litigation offer ensures the counterparty understands that the case will be pursued indefinitely if needed and at no cost to CAP-XX. For a case to even receive an offer of litigation funding., this is a sign that the case is seen as being strong.
CAP-XX has previously, successfully defended this patent with a $4.95m award from Ioxus enabling a settlement with Ioxus’s new parent System Systematic Power Manufacturing LLC. With this history and a litigation funding offer also in place, we believe CAP-XX is in strong position to enable an attractive outcome with Tesla, who we understand is still Maxwell Inc’s parent company.
From Cenkos Report - 29th September 2022
We note the announcement on 14 July 2021 that ultracapacitor company UCAP Power indicated it had purchased the “Maxwell brand [and] Maxwell Technologies Korea business, as well as other assets from Maxwell Technologies” from Tesla. However, Tesla has held on to key Maxwell technology, we understand through the retention of Maxwell Inc, reportedly primarily for its dry battery electrode (DBE) process methodology. Therefore, IP infringement proceedings by CAP-XX continue against Maxwell Inc and its owner Tesla Inc.
From the audited results for the year ended 30 June 2022 - 29th September 2022, 07:00
"CAP-XX continues to pursue patent infringement action against Maxwell Technologies (which is still a wholly owned subsidiary of Tesla Inc.) and other parties."
https://energous.com/company/videos/
The CES 2022 video interviewing Energous CEO is interesting, and supercaps mentioned.
Comment: The Internet of Things (IoT) is proliferating rapidly as new business models and opportunities take advantage of low-cost sensors and wireless communication. There are significant cost benefits to these IoT devices being maintenance-free as often the installation or maintenance cost is as much as the sensor or more. Whilst over-the-air wireless power technology is in its infancy, it has passed the proof-of-concept stage and will not doubt win a significant market share as the power source for these IoT devices, especially where other power sources (solar, heat vibration) are not viable or too large. The longer-term potential of this relationship could therefore become very significant even if its impact is likely to be limited in the short term. We iterate our Buy recommendation and 14p DCF based valuation.
Worth taking a look at the movie on the home page, illustrates just how huge the IOT market is..!
https://energous.com
Energous Corporation (Nasdaq: WATT) is the Wireless Power Network global leader. Its award-winning WattUp® solution is the only technology that supports both contact and distance charging through a fully compatible ecosystem. Built atop fast, efficient, and highly scalable RF-based charging technology, WattUp is positioned to offer improvements over older, first-generation coil-based charging technologies in power, efficiency, foreign device detection, freedom of movement and overall cost for industrial and retail IoT, smart homes, smart cities and medical devices. Energous develops silicon-based wireless power transfer (WPT) technologies and customizable reference designs, and provides worldwide regulatory assistance, a reliable supply chain, quality assurance, and sales and technical support to global customers. The company received the world's first FCC Part 18 certification for at-a-distance wireless charging and has been awarded over 200 patents for its WattUp wireless charging technology to-date.
Agreed Vanilla, and then there is the added unknown of the Tesla/Maxwell case which will be concluded within the financial year, and could propell the share price even higher.........
"CAP-XX continues to pursue a similar patent infringement action against Maxwell Technologies, still a wholly owned subsidiary of Tesla Inc. The Board is pleased with recent decisions handed down by the judge hearing this matter and remains confident of a favourable outcome."