Member Info for Daz9643

Everyone’s waiting Garonne, the only person who’s never had to wait for payday to come is the grinning conman himself.

Fair point so we needed the fund raise otherwise AFC would no longer be a going concern, with less than 12 months running costs in the bank.

‘3. Maybe the truth & he feels he has taken the company as far as he can’

I agree with you on that point, having learnt on the job using our funds to pay for his training I really wouldn’t want to see him learning on the job how to mass manufacture the products as well. There’s enough junk in the AFC car park already, we don’t need any more.

‘Speedy Hire orders now being assembled & delivered thanks to recent cash raise.’

Why did we need a fund raise to start assembling them when we have £27m in the bank ?

‘Oh & ABB 200kw units nearing completion of testing & CE Marking’

You think next year is nearing completion ?

They’ve only just turned it on, and CE marking could take 6 months after it’s been fully tested. It’s not weeks or months late, it’s years late.

Although Bond is staying on for a few months it will be great to see RNSs being issued by Gary Bullard, someone who has actually invested his own money into AFC on several occasions !

The fundraise was probably for Bonds golden handshake

With a decent CEO we actually stand a chance

Erm, the toxic pit where you won’t accept the truth, got it now ? Maybe when we get the first update from the new CEO you might but still would never admit it on here.

If we make £6m I’ll vanish too.

And then 23 days later,

Importantly, I am already in discussions with several prospective major partners who have expressed an interest in working with AFC to further accelerate our commercialisation programme. For those of you who have experience in pre-revenue, research and development organisations, you will know one of the hardest cultural changes for any company in its evolution is the transition to being a commercially focused business whose objective is to return tangible value to shareholders. It is this transition that AFC is making, and we are assessing a range of alternative technology deployment models and opportunities which will see value delivered to shareholders in the shortest possible timeframe. I hope to have a lot more to say in this regard over the coming months.

And then 2 days later with his snout in the trough,

AFC Energy (AIM: AFC), the industrial fuel cell power company, announces that further to his appointment as CEO of AFC Energy, the Company has agreed to issue Adam Bond a signing bonus payable in Ordinary Shares of the Company.

Adam Bond will be issued 1,000,000 Ordinary Shares in the Company at par value immediately and, subject to his continued employment, a further 1,000,000 Ordinary Shares in the Company at par value on 1 March 2015.

9.5 years ago.

Adam Bond, CEO said: "I am delighted to take over as Chief Executive and look forward to leading AFC Energy as it transitions to a significant player in the international energy sector. The business is at an important junction in its evolution and with commercialisation now firmly within sight, I remain confident of AFC Energy's future success in the industry and am excited to be a part of it in this way."

I’m guessing they’re reflecting on the fact that for the last 10 years the CEO has taken more salary than revenue generated and been rewarded with bonuses every year for doing so

Ah Amusement now returns, BIG NEWS COMING SOON ? 😂

Not turnover DW, revenue was clearly stated by Bond as £5-6m for this financial year

AFC Energy announced expected revenue of £5-6 million for 2024 on March 26, 2024, citing significant progress and a strong order book of £27 million for its 30kW S Series H-Power Generators.

So from March this year to yesterday, we’ve gone from expected revenue this year from £5-6m to £2m, that just tells you everything you need to know and why a change of CEO is long overdue. I’ll be amazed if the Speedy order is delivered in full and paid for by 31st October.

He never delivered anything commercial at Link and he’s not done anything at AFC. Glad he’s going. He’s cost AFC shareholders a fortune.

Agree DW, if we get someone with a track record who’s done it before this is a great opportunity. But the £27m order book now clearly includes the 10 units for ABB that haven’t been ordered and probably a framework agreement with TAMGO for god knows how many millions so the actual orders received is probably the £2m from Speedy

£8k revenue from rental, £400k from ‘other’, no mention in the interims how the ‘expected’ £5-6m revenue for this financial year is looking. Basically less than 2.5 months to deliver £4.6m of orders. No wonder he’s leaving, with egg all over his smug face.