Member Info for Daz9643

Misinterpreting, the MSP can accept power from various sources, in our case from a hydrogen fuel cell

is a massive sell going to show up soon ? something is holding the sp back

I’m now feeling very positive for the next few weeks, I get the feeling word is now getting round, volume is increasing daily, trade values are increasing too, once the 5p seller is cleared I feel this is going to blow, I now feel it’s not a matter of if but when.

Shareholders, partners and customers.

So that’ll be Shareholders and partners then :)

Good to see MSP tweeting -
MSP partners AFC Energy in it's key 2019 development CH2ARGE Hydrogen-Fuelled Electric Vehicle Charger

Lucky, dilution does not happen immediately, the loan notes cannot be converted for 42 months, so basically AFC say we need £500k for the first draw down, they give Thalion a loan note which they promise to pay back in 42 months time, so in a way the share price is irrelevent as far as drawing down is concerned.

Let me start again ! using the figures from the interims -
During the six months to 30 April 2019, an operating loss of £2.1 million (30 April 2018: £2.8 million) was recorded reflecting close control of overheads. - So £0.35m per month

The net cash outflow in the six-months to 30 April 2019 was £0.7 million after raising £0.8 million from the issue of shares before expenses and collecting £0.6 million for the R&D tax credits due at the year-end (30 April 2018: £2.7 million).

The cash balance at 30 April 2019 was £1.9 million (30 April 2018: £4.0 million)
After the interim reporting date, a further £1.1 million has been raised to fund the Go-to-Market strategy.

So cash balance at 30 April 2019 was £1.9 million plus £1.1m = £3m
£0.35m cash burn per month = £2.1m
£0.9m left in bank today

Not enough to pay next months wages so draw down coming soon !

I forgot this raise -
Raised £1.066 million before expenses on 24 June 2019 at 4.8 pence per Ordinary Share
So total is £3.26m minus £2.87m = £0.39m in bank today

Proceeds from the issuance of CLNs and the share issue will supplement the company's cash position, which as of 31 March 2019 was £1.4 million.
They received £0.8m on the 12th April, cash burn based on the loss last year of £4.96m is £410k per month, means cash burn since end of March to today would be equivalent of £2.87m so in theory we should have drawn down money already.
Can anyone add to these numbers ?

Absolutely DW, integrity is key. Something else I was taught many years ago was treat all customers with the same respect, regardless of their size or what kind of orders they might place, something AFC would do well to understand when communicating with shareholders, everyone should be given the same courtesy, if you don’t have honesty and integrity then you have nothing.

Dear Chippyjo, thank you for your email and we appreciate the feedback you have given us, to address this we will shortly be issuing an update via RNS and we will also organise an investor day where all shareholders will be welcome, it will be an ideal opportunity for those interested to learn more about the exciting launch of our EV charger.

Very best regards, AFC

Bumble, I am an investor here and have been since I first bought in years ago at 60p. I also averaged down at 12p after the Southern deal announcement. My agenda is clear, AFC have consistently failed to deliver on anything after 12 years, tell me what you find wrong with my last post ?

Seance, when Q4 was mentioned as the period for the roadshow in light of AFC past history it’s pretty obvious to most people that meant the final hour of 2019 so December now being mentioned should not be a surprise to anyone. There has still been no evidence whatsoever that orders are forthcoming and the roadshow is purely a few demonstration units placed around the country, we still don’t know if an order placed during the roadshow when delivery can be achieved. Also regarding the letter sent to AFC by Chippyjo I think it’s an absolute disgrace that he has not even had an acknowledgement that the letter has been received, this shows the total contempt that the belligerent old chairman has for the shareholders that pay his salary

Large overhang ?
Who would have that many shares to sell @ 5p ?
Can’t be long term shareholders as they wouldn’t be selling now they’d be holding or buying more, can only be down to the subscription. Adam has already stated that the high net worth individuals who invested previously made a 40% profit on their investment

Fuelcellinvestor, that'll be these people -

Subscription of 22,214,584 Ordinary Shares to raise £1.066 million

and grant of 3,000,000 warrants

AFC Energy (AIM: AFC), the leading alkaline fuel cell power company, is pleased to announce that it has raised £1.066 million before expenses by way of subscription for 22,214,584 ordinary shares of 0.1 pence each ("Ordinary Shares") at 4.8 pence per Ordinary Share (the "Issue Price") (the Subscription Shares") (the "Subscription").

The net proceeds of the Subscription are expected to be used in the delivery of reference projects, working capital and other purposes to support delivery of the Company's Go-to-Market strategy. This strategy is focused on preparation for commercial deployment and the strengthening of the Company's supply chain.

The Issue Price represents a discount of 12 per cent to the closing price of 5.46 pence on 20 June 2019. The Subscription is not being underwritten and is conditional on admission of the Subscription Shares to trading on AIM. The Subscription is being conducted pursuant to the existing authorities granted to the Directors of the Company at its annual general meeting on 30 April 2019. The Subscription Shares represent approximately 4.8 per cent of the Company's issued share capital as enlarged by the Subscription Shares.

Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will occur at 8.00 a.m. on 25 June 2019. The Subscription Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after the admission of the Subscription Shares, respectively and will otherwise be identical to and rank on Admission pari passu in all respects with the existing Ordinary Shares. The Subscription Shares are not being made available to the public and are not being offered or sold into any jurisdiction where it would be unlawful to do so.

Following Admission, the Company will have 447,987,790 Ordinary Shares in issue, none of which will be held in treasury. Accordingly, the total number of voting rights in the Company will be 447,987,790 and shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Board of AFC Energy has also agreed to grant warrants to external commercial representatives over a total of 3,000,000 Ordinary Shares.

The warrants will be exercisable at a price of 4.8 pence per Ordinary Share, being the same as the Issue Price and will be exercisable within two years following the date of grant. The vesting of the warrants will be subject to the achievement of certain commercial targets.

Following the issue of these warrants, there will be a total of 7,243

Anneowl personally i don't fancy going to an open day on new years eve.

So after a stonking RNS that we've all been waiting for we're stuck at 5p yet again, which coincidentally was the HNW individuals buy in price.

A previous company i worked for employed a former Rolls Royce manager, i found out a few weeks ago he was sacked for years of under performing. It's good having a respected name on your CV, you still have to produce the goods.

I hoep you included me in that statement Bumble. This has addressed some of the concerns i have stated on here, we now have definitive months announced, i still think November release for new website will be end of November but we will see. Disappointing to see the flow plates were only satisfactory, does this mean the tooling will have to be redesigned ? this could set back a few months ?