Member Info for Bullwinkle38

What the hell is going on with this, come on Mr Tucker, time for you to keep the small investors informed, not just the big boys so they can dump share ahead of bad news being announced.

Not good enough.

I've been invested here for some years now and the jam is still tomorrow !!

Thanks for your views

There have been several comments on this forum along the lines that Mondi are not in a position to, or likely to raise their current all paper offer for SMDS.

On the face of it I would agree, however it did occur that they may do so.

There has already been consolidation in this sector and a merger of SMDS with International Paper would create a second global player, leaving Mondi as a relative minnow by comparison.

This opportunity to merge with SMDS is probably the last one that Mondi has (for the foreseeable) to be able to gain scale and remain in the fight so to speak.

Their initial offer was I think relatively low, it has flushed out IP, so at least Mondi now know where they need to be should they wish to improve their offer, be it a better split of equity or an addition of cash on top of the existing offer.

These are simply my thoughts, it would be interested to know other peoples thoughts on this.

Do people really think there is a drop to £1.30 in the offing ??

Seems very pessimistic to me, they had strong revenues in 2023, cash in the bank (though dwindling) are investing in additional technologies and have a new contract for 2024 which should further increase revenues for the coming financial year.

Concerns still swirl around Waichai, but the share price has tanked and recovered several times as a result of the Waichai delays, and I doubt there is now a deal there to be done which is sufficiently revenue generating for the remaining Ceres shareholders.

The head count / overheads remain a concern, these need trimming in my view and the company needs to focus more on what is has and maximise those revenues through the licensing model, rather than simply plough on in multiple directions.

I doubt Waichai will pull out and dump their shares but you never know.

There is space and a place for multiple Hydrogen technologies in the transition to green energy and CERES do at least appear to be at the front of the SOFC technology drive.

Will be watching with interest.

Nice update as many have suggested.

I have had VEL on my watchlist for sometime and not yet taken the plunge, perhaps now is the time to do so, however the buy / sell price spread is crazy and significantly putting me off, and I do feel that VEL still have some way to go to deliver on the forecasts they have given, hence I feel the share price will remain flat in the short term.

Hi Truro

The 160m was stated in £, whilst the 'aggregated value of 220m' stated in todays RNS is in $,

Todays exchange rate does not quite compute the difference, but is pretty close, there may have been some amendments or an additional $15m ish additional contract come in.

Either way the forward order book value remains strong.

At least we now know the real reason for the so called 'strategic investment' from Ocean Infinity, with the delays know about by the BOD and clear visibility of running out of cash, more capital was needed, resultant from the lack of invoicing on the large projects.

Whinge over.

I have just been sent a research note from Cavendish which show the now 15 month revenue holding as previous forecast, though with a marginally reduced EBITDA of 11.4m (was 12.4m) new PBT of 5.7m (was 7.2m) and negative FCF of 20.4m and net debt of 10.6m, which I guess is inevitable given that to achieve the top line the required invoicing is going to be close to the new YE date. -

2025 YE (12 months now July 24 to June 25) forecasts of Revenue 104.8m, EBITDA of 17.5, PBT of 11.9, with FCF close to 30m and net cash close to 19m.

Please do your own research, the above is only one financial institutions view, other may think differently.

If we are to believe the companies communications, everything is now in place for SRT to finally achieve the undoubted potential it has.

Over to you Mr Tucker, all I ask is that you now deliver on your statements and forecast numbers.

A quick bump up in the SP would be great but not really realistic at this stage. For me the business is sound but needs to be taken a grip of, which I feel the new chairman has done and I hope will continue to do so. Trimming the fat out of the overheads in a controlled manner will take some time and cost some cash, but thereafter deliver a strong return on the effort and I would expect a notable growth in the bottom line. I would look for this company to build its EBIT to a double digit %., perhaps not for the 2024 FY but certainly the 2025 FY.

Further forward, it will be interesting to see how the commercial team is developed and how they expect to maintain grow momentum in relation to top line sales. Now is not the time to stagnate, but to prepare the foundation for controlled growth.

Joaung1 - Show me where in the report is actually gives any data to support the statement. If it is in there I missed it.

As for Stock or Haggis or whoever you are, you keep filtering fella and stay living in your own little world. You're odious attitude along with those of ADE and others with opposing views to yours ruin such discussion boards as this.

I would like to see AFC win through, but it is still a very long way in the distance.

People should read the RNS a little closer.

· The European Parliament asserts[2] today's electrolysers require between 50-55kWh/kg of hydrogen produced - suggesting AFC Energy's ammonia cracker will deliver distributed modular hydrogen at < 1/5th of the power demand of an equivalent sized electrolyser.

The claim that the cracker uses 1/5th of the energy of an electrolyser, refers to the above referenced EU paper, and there is no data to verify the 'Assertion' in the document. Are we now to believe, that the stuffed shirts of faceless politicians are now hydrogen production experts!! Further the document referred to is 4 years old, and I would be confident that the efficiency of electrolysers has improved in that time also.

For AFC to make such a headline grabbing statement against a 4 year old document shows that they are most likely 4 years behind the game.

I hope AFC make a success of themselves, but I doubt it will be with the current management team, who must be on borrowed time.

Traded volumes have been low generally, there is little interest on CWR, the gradual slide downwards will continue until there is something good to say, or one of the shorts is notably reduced.

I agree that the company is very under valued, there are a significant number of trades today and a high volume of shares traded !!

Somebody is jumping in while the price is low.

On the 3rd Nov last year, they put out a trading update stating sales to the end of Dec would £8.6m, when it came to the trading update on 8th Jan, the CEO reported £8.3m for the year. The year end was only 6/7 weeks away and they still got it wrong, that to me smacks of a CEO and Chairman that are not in touch with the business, or blind to the issues.

With the orderbook they have this business and the SP should be flying.

Time for a new CEO and Chairman in my view.

Whilst AFC have been static to declining over the last 6 weeks.

The hydrogen sector is generally one of the more volatile sectors to invest in, and CWR are a clear example.

Ouch !!! big drop, shorts in control and given the price they entered the shorts at, they are not going to close anytime soon. Further drop coming I fear, but hoping for a re-bound

Applied is definitely in better position than SIS right now, a scan of respective filed accounts shows some significant cost / efficiency differences, e.g. Applied has a work force that is half that of SIS for a similar turnover, SIS marketing and Admin overheads are astronomical in comparison, even after you take out the non cash items.

SIS making a large loss whilst Applied makes a nice profit and has positive cash flow.

I have been using SIS products for years, hydration, bars, gels and recovery products, and would not change, but the business needs to get the fundamentals right, drive operational efficiencies and make a better return on the marketing spend.

Now we have a new leader in place, I am expecting this to happen, from a personal point of view, I would love to be leading this business as I think the potential is sky high, but our new Exec chairman needs to get hold of the business and start to drive it, either that or put a COO in to do exactly that . There is no reason why opening up distribution in new countries / markets cannot take us beyond the £100m sales in the next 18 months, but the management team needs to own this objective and drive hard.

I do see growth in the share price from current levels and I am looking forward to the next update.

Hi to Truro Trader and thanks for your thoughts.

Contracts of this nature are lumpy by nature, I have spent many years in manufacturing, building 'custom' power equipment, which can be subject to all sorts of delays, resulting in invoicing rolling from this to next month and making a mockery of revenue forecasting, particularly when the role over is to the next financial year.

So long as the funding actually comes through, then the revenue will be generated at some point in the future, however the markets do not react well to such peaks and troughs and we are seeing this all the more right now.

Right now, I would appreciate Simon Tucker either confirming the previously published guidance, or providing a more realistic end of year outlook.

I am also concerned that as SRT transitions from developing the MDA solution to actually delivering in the field, that the company is in need of new skill sets that are more operational focussed. I see many AIM companies who struggle to make a smooth transition to the delivery stage and I suspect SRT are suffering also. With such a large contract on the opposite side of the world as the first really big one, I hope we have an experienced Project Manager / Operations Manager in place to focus on it, and one who has the authority to make decisions in relation to its delivery.

Looking forward to this current down trend reversing !!

I really do not wish to sound like I am bashing this stock, I have held it for several years and nothing would please me more than to see it thrive. I believe in the MDA concept and the AIS boxes are excellent.

That said, SRT clearly do not yet have the funding in place to proceed on the current large contract, and having guided much of that revenue into this year, I am fearful that the end of year results will be a massive under-performance. I recall reading that the company has also commenced the purchase of much of the hardware for it, which means cash tied up, cash which the recent investment by Ocean Infinity and the small public offer has plugged for now.

The recent Investor Presentation was more notable for what Simon Tucker did not say as opposed to what he did say. If we are on track for the previously stated year end guidance, I am sure it would have been re-stated during the presentation and it wasn't.

I shall be continuing to hold SRT in my portfolio, and trust that the current down trend reverses pretty soon. Currently it looks like an easy acquisition target.

Happy to hear other peoples views

I don’t usually post on these forums, however this move by SRT has driven me to comment. For me this is far from a strategic investment , if it where then it should have been at a price that Is not dilutive to the existing shareholders, many like myself who have held shares since the beginning of this journey.

My view is that our jam tomorrow CEO does not have a clue in delivering on the fantastic order book we have. It shows that the payment milestones are not being met, that cash is not flowing into the business in line with the projections made and as such the working capital is depleted. Either that or the CFO cannot project working capital and cash accurately, I now expect an RNS in 2024 stating that the previously repeated guidance of £70m sales for 24YE will be missed by a country mile.

Lets remember that the AIS side of SRT is a box shifting exercise, manufacturing of which is sub-contracted. SRT itself now has to deliver the Systems side of the product offer and appears to be failing. Ramping up from next to nothing to £70m is a major task that cannot be under estimated, there will always be project setbacks, they are inevitable, I have a feeling that SRT have totally underestimated the task at hand, and is now floundering around, burning cash and not hitting the milestones.

My confidence in the CEO and CFO is now pretty damn low. A truthful explanation relating to this raise and some honesty in the progress to the previously repeated year end guidance is now required.