Member Info for Bullwinkle38

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.