Member Info for Daz9643

Probably because AFC have lost all credibility including with ABB so no one will take what they say at face value any longer, even with the due diligence that ABB did. They have to prove it now. Alkamem the holy grail a good example, trial samples being sold lol.

They can blame you Conman Numpty for lying about Niftylift

Conman Numpty have you apologised yet for telling newbies that AFC fuel cell modules are being used in Niftylifts range of electric platforms ?

Conman Numpty having a go at people with multiple usernames when he also posts under the name statethefacts, you really couldn’t make it up, but he can 🤣.

We were told this is the year of delivery by liar Bond. We are back for the 3rd or 4th time transitioning from R&D to commercial ! How long ago now was the comment we’ve got the right products at the right price at the right time lol.

The units Speedy have will be used for trials. There is a further 8 units built that they’ve been written down in value and will probably either be sold to the JV or also used for trials. I think we are 1 year away from real traction if the management are being realistic with their expectations

The new products will be ready next year, if they are and we have sales this will be 20p plus, not years, one year.

The fundraiser is pretty much to get the new low cost design 30kw finished, certified and first batch completed and same for the Hy5, the fundraiser doesn’t cover volume sales, if it had been a Bond RNS it would have also said it’ll stock us up with systems to fulfil the order book

Absolutely agree Justaguess, plus the business needs to show it has the money to fulfil creditors as a going concern so if they hadn’t of done the raise now at the next accounts the company would no longer have been a going concern.

I said when the directors bought in they were probably doing it to instil confidence as they knew a fundraiser was coming and them buying in helped to raise the sp to ease the dilution, if they hadn’t invested the fundraiser could have been at 5p !

I feel all the bad news is now out of the way - how many times have we thought that over the last decade !

Even she’s not that stupid 🤣

Not included in the AFC financials, is what I think this is telling us. We will see revenue of sales of units and hydrogen supply to the JV, but not the rental revenue as that will be accounted for in the JV figures.

14. INVESTMENT IN JV

The Company signed a Joint Venture Agreement (JVA) with Speedy Hire (SDY) plc in November 2023 which resulted in the creation of Speedy Hydrogen Services (SHS) Limited.

The Company has assessed the relationship with SHS under IFRS11: Joint Arrangements and concluded that it is a joint venture. As the Company does not control SHS, it has not been consolidated into the Company's results.

SHS is owned 50:50 by the Company and SDY, with both parties providing initial funding via equity investments of £625,000. This investment, and any further investments, will be accounted for on a cost basis.

In addition to the JVA with SDY, the Company signed a Supply & Maintenance Agreement (SMA) with SHS under which it will supply goods, hydrogen fuelled generators, and services. The SMA has been assessed under IFRS15: Revenue from Contracts with Customers and the Company has concluded, amongst other things, that SHS will be acting as principal in the purchase of generators from the Company for onwards hire.

Most of the sensible pragmatic investors knew a fund raise was due soon, it’s not a surprise. The price per share is though, a big discount to an already weak sp.

I do have confidence this time around that the proceeds of the fundraiser will actually be used for the purposes described unlike previous years when I didn’t believe a word of it.

A little note to CN (ClownNumpty), THERE IS NO REVENUE OR SALES TO LIFTYLIFT AND THEY ARE NOT USING OUR FUEL CELLS.

GOT IT NOW ?

Hi Garonne, been a long day and only just reading comments & RNSs, obviously disappointing. More scrap metal for the AFC car park with this news - As a result of the current market conditions, the directors have concluded that in order to be commercially viable the business needs to provide product that is at or near cost parity with diesel on a total cost of ownership basis. For this reason, the H1 FY25 operating costs include a £2.9m write off of inventory (primarily generators built to date) reflective of the change in business strategy.

Sp aside nothing has changed, so I’ll continue to focus on news in future and not the sp. How many times have I heard ‘a bit more patience required’ ? Probably a good 1-2 years more patience needed !

Ade will be happy with the blue finish today

Yea hydro, like the £27m order book that contained non committed orders.

Ade, having your posts recommended means people agree with you, the more recs the more people like/agree with you. Basically nobody likes or agrees with your posts.

For th umpteenth time Adelardo, nobody cares if there are more buys than sells and the price drops, lth’s with sizeable holdings DON’T CARE, because they are looking for a return over the next few years, like you pretended you were doing but then admitted to being a trader, but then you constantly flip flop and no one takes any notice of your posts anyway. It would be a really interesting study to take the number posts you’ve made over the years and divide by the number of likes, I guess it would be something like 0.0000001% likes per post, ie meaning you are irrelevant, pointless, unheard, meaningless.

Plus JW also said the order book was still accurate, so the £11m revenue from the JV is still possible but delayed by a year ?

Speedy not meeting sales targets is not their fault, I expect the relationship to continue