focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
RNS of 15.06.22 (just 2 months ago) referred to the first commercial order of 500 T42 units under the framework contract announced on 17.12.21, and stated that further orders are expected for other ports across Latin America.
The trading update in June emphasised that with major international customers it is often necessary to work through lengthy trials etc before they commit. There is no reason to suppose, therefore, that the pipeline does not include some major container/shipping/distribution companies interested in adopting the T42 for their containers. The recent big announcements have mainly been related to port authorities and general distributors which may be why the focus on those has been mainly lockies. The delay in updating could be because something big is due to be signed off and they want to include that. All speculation, of course, but in my opinion more likely than the T42 being redundant, or the new strategy being misjudged.
The 17.12.21 RNS (LATAM contract worth up to $40m includes Tetis/T42). I very much doubt the Tetis/T42 is “redundant” given that it is specifically designed for containers and has an internal arm with sensors that the lockies doesn’t have. Your believe that the Tetis/T42 is redundant is speculation and very unlikely to be correct in my opinion, and most definitely not fact.
Ant - I share your pain, but look around. The same thing is happening in loads of stocks, especially on AIM. We are in a bear, risk off market, generated by macro geopolitical and economic conditions which get worse by the day. Sure, it would be nice to have more newsflow, but we are in a boring phase of the development of the DFS and have to live with it. However, off takes could drop any time, and then……..boom (despite the macro position). Just my take on it.
I have no wish to get involved in the sniping and backbiting that have reduced this board to a bit of a cesspit of bile, but would say that any investor who constantly bashes his own investment on a public bb in a thinly traded share like this needs his head examined. Unless, of course, he is cynically trying to depress the price temporarily to top up lower. Just saying.
Hi Hunky. Can you remind me please, has the board confirmed that Shlomi is our man? He seems to have fingers in a number of pies and, on the face of it, seems to me at least to be a pretty sharp cookie. Personally, marketing is a key part of what we need to scale up sales and his other interests also seem to me to be highly relevant, especially given the new strategy focussed on data and saas. Although the open box deal seemed to be focussed on lockies, we don’t know that they will be hardware sales as per the old model or sold via the new model. At all events business development, marketing, sales and even AI (learning from data) all seem to fit, in my opinion at least.
As far as I know, it is unclear which company bearing the name is “Open Box Ventures Inc”. A google search reveals various possibilities that are not recently created shells, although the company you refer to could be related. Our board of directors has been notoriously conservative with its RNSs, so personally, I cannot see them making an announcement like the Open Box one if it didn’t have substance. Time will tell but I remain confident. Anyone bored could do well reviewing the RNSs since December, which much of the market seems to have forgotten about, judging by the lack of volume and consequent drift in SP. Could be an opportunity for anyone with spare cash but dyor etc.
A very sensible hand on the tiller to dampen expectations a little and steady the ship ready for a few more tasty and positive RNSs in the run up to Xmas. Very happy with my investment here, even if it’s currently a bit under Water, ho ho.
Hounddog. Agree with what you say about the commodity gloves and had the same thought myself. The ‘change of strategy’ explanation looks disingenuous. Much more likely that customers dried up post the height of the boom in PPE sales at the height of the pandemic. Probably our competed by bigger players. However, the d2p gloves will give us a competitive advantage when approved and launched. Meditech still teed up to give it early legs. So many other positive developments announced and pending, I can forgive the gloss put on the loss of commodity glove sales.