Member Info for Bondy123

DW - what we got from the telecom business you refer to was ip, not a finished product and I’m sure some know how in to using ammonia. Diverse energy if I remember correctly.

@Chuncky, I will be going as myself, a long term holder of the stock that wants it to do well but that is concerned by movement of goalposts, lack of clarity coming out of the company as well as plenty of misleading comments, thank you.

I have one mind to turn up to the meeting to vote this resolution down based on the fact that I feel like we’ve been misled by the CEO (which has been allowed and not
Rectified by by the board) and frankly, he gets paid enough already! On the other hand I want them to have the resources they need. So when do we make a stand and express concern that we don’t want to see the £50m get squandered? When will we get a sense of what the hell it is that’s going on over there?

I’m thinking about turning up to ask these very pertinent questions.

£150k is not a great wage for a part time role?

Or is £400k the cap for all of them?

Curly, it is timed for a couple days after the last update was delivered, so who knows.

FWIW, I am in support of them bringing in the expertise they need. £400k for a non-exec though - i.e someone who doesn't work there full time - doesn't that sound alike a lot?

I disagree Kev, both Garonne and DW raise very valid objections with the way the company is being run.

I can see how the persistence is annoying and can weigh down people trying to be optimistic, but, in a world where even Haggis has even run out of content, the company need to throw us a bone!!!

“The longer you go without AFC releasing news, the higher the chances of news appearing (because they cannot go forever without releasing news). It's a simple law of probability.” - Haggis.

Absolute Genius. Are you out of content Haggis?? lolllolllllll

Reonin, I would imagine AFC are not too far away from the table as far as Shell / Abb are concerned. The key man across both deals is Frank Muehlon. Frank Muehlon has put his name on the AFC investment, and has a vested interest in making it work. It is the obvious option for that off grid offering that will inevitably be required.

Two other things to mention;

1. People have been overly focussed on the advertised jobs on Linked-in, coming to the conclusion that these are the only roles being hired for. This is simply not true. We already know that AFC were aiming to go from 70 to 150 employees, only 35 have shown up linkinedin - so presumably the other 45 have not been advertised yet, or been fulfilled by recruitment consultants. For example, nobody saw the new Marketing Lead's role advertised on Linked in did they?

2. Whichever way you look at it, the company is significantly scaling up. It was public knowledge that we had c.70 employees and we hit a mcap of £500m. Our activities would have doubled in scale, meaning even if it is from a product output perspective, it is possible to impress the market to hit it again.

3. ABB, at a senior-sponsor level have committed a significant amount of capital supporting AFC's product dev and investing in to the company. The will to make this succeed exists there. I would not be surprised if some of those execs have shares in AFC themselves.

All IMO.

Not long now until we receive the half-year report if last year is anything to go by, and I would expect we will receive a robust update at that point, not least because Acciona and Keltbray systems may have been delivered.

Some here have moaned about the new marketing guy not having an immediate impact. I don't agree with this criticism. For anyone new to the industry you have to afford them some time to get familiar with the product, history, current priorities, and next priorities first, before doing a whole load of proactive engagements. This is natural in any job at any level. The criticism is unfair in my opinion. We will hopefully start to get a flavour of what he is able to do, hopefully around the time we are publicising the initial deployments.

I also imagine a person of his level of seniority is going to hire a team which includes people in product marketing, digital marketing (paid media and website) and comms / PR to support (or at least someone to manage external agencies that will take care of these functions) so to this extent, I'm happy that there is someone who looks like he could lead the marketing function (as opposed to Iain Thomson, who looked like he was an operational generalist.

On the share price, I'm not too worried about where it is. My plan was never to sell out at this point anyway, and also you have to rememeber, at certain critical points there are severe drops (credit crunch, Covid....), and we've had the war + inflation drop - so I think this is now the time to buy. When others Zig, Zag. DYOR IMO.

DW - this is excessive, every single day!?

Just your opinion. Thanks.

I’m not sure Alt as it could actually prove that he is interested in the SP going up.

On grievances, can I ask you directly about how you personally feel about the switch from commercial imminence to AFC now using most of the money raised to fund R&D?

For me this is one of the biggest indications yet that the goal posts have been shifted, significantly. We know we have hired a marketing lead but I can’t see a single commercial or marketing person outside of that. One manufacturing technician.

Someone has posted all of the roles on Facebook and suggested they have been subsequently deleted, I would imagine this is why - because we now know what all of the money is going in to?

Surely you can understand grievances of people that say they were told one thing by AB (and yes that includes the pipeline figures, and the countless drops on proactive videos etc), who now appraise that perhaps things weren’t as rosy as AB made out? (And as such feel misled?) Keen to hear your honest opinion on this.

I don’t think garonne’s grievances are ‘faux’ grievances, they’re actually legitimate points about the conduct of AB IMO which are shared by a good few people here. We all hope he redeems himself soon.

Point taken, cheeky. How big was that trade? Lol

A big warning to everyone following these notes about 'MM games' and UT's being weirdly big, and how there were more buys than sells. People were screaming this the last time the SP dropped all the way down to 4p. Don't listen to it, it is absolute baseless BS designed to manipulate you.

Base your research on better things than messages like this. IMO, DYOR. GLAH.

AFC Energy expects to announce multiple new system orders in the second half of this calendar year. " 2021 April

Technically, they did announce new orders - ABB, Urban Airport and Keltbray

EV / Hybrid vehicles are currently way to costly vs petrol / diesel cars. In a cost of living crisis, I'm not willing to depart with +30 - 40% extra just to say I drive an electric vehicle (apart from the environment, it's the only benefit I can see because the cars themselves arent better). I prefer efficient fuel petrol / diesel cars for now. The extra I pay in road tax still works out better economically than paying the premium for an electric car, and then charging the thing. That's just me though.

Adding IMO / DYOR.

@DW - my response to you is, that I acknowledge that AB has made suggestions (not promises) that we are further ahead commercially than what has transpired. However, for me it is more about finding out how they are progressing with both the delivery of existing projects and what the pipeline looks like, rather than calling for his head right now.

If there is positive progress on delivery to existing partnerships, and some insight in to the pipeline / likely near term commercial opportunities progressing I'm happy for now. If we get to the end of Q1 next year and we're still waiting for updates and clarity on these same things it's time to go (for me), way ahead of any time that cash looks like will be needed.

Cheekyboy - I don't think any negative points made on this board have had much to do with the share price dropping.

My view is that the extreme - yes, 'extreme', external factors have done 90% of the damage. The war and it's impact on the rising cost of living, as well as inflation and general macro-economics have caused the investment community to move £ to safer havens. Most stocks, bitcoin etc have suffered considerably. Look at some of the tech stocks, and established companies, losing 2/3rd's of their value despite £bns in revenue.

Companies that have consistent revenues and pipelines will fair better than those with inconsistent revenues and speculative pipelines. In the current climate AFC still has a Market cap of £191m. ITM and Ceres can only be cited as peers to the extent that they operate in the Hydrogen field, but as businesses they are much more advanced than where AFC are, and AFC is much more risky than those two (due to lack of proven pipeline and production line), and, therefore, is likely to be even more volatile (up and down) than they are (hence sometimes drop further than those two and struggle to make the gains back up). One may argue that AFC should be in a better position by now, market ready products etc, but I'm not trying to open that can of worms - I'm still hopeful about the power tower finally being 'that' product.

In the short term however, it is not the 'bashing' or expression of upset about how the company is being run that is affecting the share price. It is the market looking at companies like AFC and noticing that a) there's not a complete product (yet), and b) there's not a consistent, measurable pipeline that helps determine with some degree of certainty where this company might up in the next 2, 3 or 5 years. c) It's already worth £191m which is 38X it's projected revenue of c.£.5m. I think that we will struggle to see these speculative tech stocks hit 50X - 100X revenue multiples until there is a point where the average retail investor has incentive to starts piling back in (rather than piling out) of the stock market - this is not unique to AFC, but to all stocks, especially AIM. Therefore, the only way to meaningfully increase the share price, is to increase the expectation of revenue = revenue generating contracts.

I hope you don't read the above as 'bashing'. If you want some balance, then I'll tell you why I'm invested in AFC.

1. They have a Alkaline chemistry fuel cell
2. It promises to be the lowest cost and highest efficiency fuel cell in its field
3. It is finally in a configuration that looks like it makes sense from a practicality perspective.
4. Flexible fuelling options.
5. Global Partnerships - especially with VARD and ABB - markets - EV charging, Data Centres, Construction etc
6. Some great expertise on the payroll - especially in product.
7. Great opportunities for publicity through exe and UAP and through UKTI
8. Somewhat of a manufacturing facility

All IM