Member Info for DamayHill

Genuinely perplexed by what might be going on here. Surely we get an RNS next week that provides some context for this. My money would still be on the advance payment terms from OEMs to save them from the extremely costly exercise of having to go back to the drawing board, but it's a bit of a head-scratcher.

@30silver, yes I was being slightly reductive and for me the furnace issue is part of manufacturing progress (ie scale) but I take your point.

PadRock, the potential has always been enormous. The execution has been catastrophically bad. The company has burnt through all its cash several times and has no viable means to raise further cash. As for 'manufacturing progress', I must have missed that. The lack of manufacturing progress is the WHOLE STORY here.

🤣 you should take out an advert: village idiot seeks fight, available most days (unemployed), willing to travel 50 miles, if my mum asks tell her we're friends.

I love how you've specified how far you're willing to travel. Absolutely priceless. That's cheered me right up.

The problem is that something has to fundamentally change for them to make it through without any more major pain. Will be interesting to see if and when they next post a trading update. Of course, they're unable to do so without addressing the massive elephant in the room (cash and existential!). If they could finally crack the production at volume without the scrappage then they could gradually rebuild a business from the wreckage but as you say, there's definitely some price to be paid even if they do survive. Advance payment from OEMs wouldn't be the worst thing in the world given the order book and the likelihood of further orders if they can somehow get through this.

That should have said 1p raise, of course! 😒

[Btw Guitarsolo, I'm in almost the opposite position. I'm not diluted into oblivion (went in fairly heavy on the 10p raise) but kind of wish I was!]

Hi Bagpuss, yes never left. Still holding a lot but that latest trading update was such an important one in terms of cash runway and it was worse than I had imagined it could possibly be! This ought to have been one the great British engineering success stories. There were always significant risks with production at scale but nonetheless, it's been horribly executed. You're still in, I take it?

Btw Guitarsolo, I'm in almost the opposite position. I'm not diluted into oblivion (went in fairly heavy on the 10p raise) but kind of wish I was!

And as if by magic, here's one of the other old guard, Guitarsolo! Yes, there is absolutely no doubt that they either have already or will shortly run out of cash. I doubt they were able to raise on any terms, so administration looks a near certainty. And yet no news since late Sept. The OEM white knight scenario seems the likeliest, I agree.

Johnnyy, sadly I'm not new. Wish I were. If you go back several years, you'll find that there were just 3 or 4 of us regularly on here.

Just ignore him mattlefunk, there is at least one clueless clown like him on every single board - people like him are the reason I never really drop in here any more. You use a board like this hoping for some chat with like-minded investors, perhaps even get some insight and learn something. No chance. It's clear to me from his response that he has literally no idea what this business does or the position it finds itself in.

Gordonbennett, adding to the order book at this stage is completely irrelevant as they have run out of cash and can't produce at sufficient volume/quality. Likewise, they may well have made improvements to the production but again, they have run out of cash. It is a near if not actual impossibility for them to have turned around cashflow without something extraordinary having been agreed (hence my two speculative scenarios). I do wonder whether you have any understanding of this business and the position it is in.

As a LTH here who has more or less written this off, I am trying to fathom what is behind this little rally and the silence since late Sept. I acknowledge that this is pure speculation but the only scenarios I can imagine are:

1) One or more of the OEMs has provided some support. The only small glimpse of light I have clung on to since the latest disastrous RNS is that SCE failing is expensive and deeply inconvenient to contracted OEMs. It is not at all in their interest for SCE to go under. What the quid pro quo for such an arrangement would be, who knows? Perhaps they have agreed advance payment terms because it makes more economic sense than the re-engineering required to go with the alternative supplier.

2) They have somehow been permitted to flex the purpose of the capital loan and extend their cash runway, whilst also improving production/scrappage. This perhaps isn't all that far fetched as SCE going into administration would likely rule out any repayment of the loan in any case.

I won't get my hopes up but any signs or life are welcome right now.

Any thoughts?

Robmasters, I’m far from always talking this down. I’ve been very positive about it for a number of years and remain so for the longer term if the significant challenges can be overcome. I desperately want this to succeed but I’m capable of this weird thing where I can hold more than one thought in my head. You should give it a go.

For those of us that have been around for longer than five minutes, it’s been a very rough couple of years indeed when it really shouldn’t have been.

By all means ignore me, but you might do well to take note of a few of the more experienced voices on here, which by and large are the ones striking notes of caution. You might recall that last week numerous people on here were extremely positive because the share price hit 2p and they didn’t really understand the context of the announcement and only read ‘doubled production in the past four weeks’. Those of us who actually understand that update in context were a little bit non-plused by such a positive reaction.

Various people on here idiotically proclaiming 3p and even 5p this week. Lo and behold, 1.6p at present. Not a surprise to me at all.

Maybe try and school me when you’ve actually done some homework of your own.

What a naive post. You are mistaking shorting for actual experience. The notes of significant caution here are from people who understand that hope and expectation are very much in the balance here. If you want nothing but unbridled positivity, go and watch cartoons. And before you accuse me of being a shorter, if this ever hits 40p again, I get to retire.

Genuinely good luck to you with your trading, I hope its works out for you. Would just prefer you didn't pretend therefore to a) know anything about this or b) care. Because some of us actually do. That's all.

I guess I seem like a miserable individual in the same way as you seem like a crowd-following simpleton. I'm a LTH who takes the time to actually understand, interpret and form an independent opinion. So shoot me.

That's right Hepran, you're the one who believes this company manufactures brake pads, but I'm the twat.

'3rd time lucky then lol' - remind me, what that Warren Buffet?

No further funding required was the very clear message at the point of the 40p fundraise, since when we have had massively dilutive 10p and then 1p fundraises. Come on guys, wake up and do some of your own thinking rather than just happily drinking down whatever you read.