Member Info for Digitalis

I'm not - but what would you have him do differently?

Since taking the helm, he has overseen a standardisation of the product, introduced Neptune V to diversify away from Linde reliance on larger units, improved production quality, introduced efficiency savings, resolved consumer disputes and increased the sales pipeline.

The share price has fallen from highs driven by an asset bubble from post COVID Quantitative Easing initially mixed with Hydrogen enthusiasm. That enthusiasm has waned a little over the last couple of years in some quarters, maintained in others but the business fundamentals didn't support the price it was at due to cashburn. That is reducing, what more do you think he should have done differently to reduce it further more quickly?

The share is now oversold and undervalued, due to the actions of the market, what do you think he should have done differently that would have prevented the shorters selling the stock and then triggering stop losses for some and making out that retail investors were abandoning (which isn't supported by the evidence)?

Well I'm waiting for them to publish 2024 accounts which are due by July, to be sure how much cash at bank they have and net assets - but yes, the risk to them is that they don't have enough liquid assets (oh the irony) to close out their position if they had to in a hurry.

Thanks Troublesome, it does build on the product licensing for Australia and provides a reference plant to prove their credibility, so it is a hopeful sign. Although, on its own, it is a small unit unfortunately. But all oak trees grow from small acorns.

@SpicyTuna, no, I will not forgive your bluntness. I don't, however, suspect that will concern you. As indeed the rudeness does not concern me. When one party resorts to aggression in a debate, which bluntness is, it is a sign that the party is losing the debate. I will, however, note that you are up late/early so perhaps have need of some sleep to sooth your frayed nerves.

As a general comment, making a statement of opinion and then following it with the word "fact" in capitals; does not, in fact, make the preceding statement a fact. A fact is "a truth about events as opposed to interpretation". Your interpretation is that the only way the share price can fall so much is if there's a mass selloff. This is either disingenuous or ignorant. Only you know which. If disingenuous, well, let's just leave it there. If ignorant, then I suggest you educate yourself on the impact of marginal pricing on illiquid shares and, therefore, why AIM shares are highly volatile. Illiquid is commonly used to describe investments that cannot be quickly and easily converted into cash at the current fair market price. It is also used to describe an asset that has few participants and a low volume of activity. Less than 1% of shares in ITM change hands daily, it is illiquid.

I am not obsessed with shorters, I do not care whether they make a bucket load of cash or not. I have no control over it, therefore, I do not worry about it. Making less profit is not the same as losing money, they haven't made any profit, yet on the shares still short, a paper profit is not a profit until it has been realised by buying back the shares. Same as a loss is not a loss until crystallised by selling shares that have depreciated.

ITM do need to land contracts, that is the only true statement in your last post. We have agreed that before, elimination of cashburn is needed and the turning of revenue into profit.

Nobody is feasting until there are enough shares being offered to mop up, without sparking the squeeze. Good luck with that to them, I say.

Thanks to Golden Prospect on the other board for bringing this to my attention.

https://reneweconomy.com.au/green-hydrogen-production-plant-taps-100-pct-renewable-grid-using-cutting-edge-electrolyser/

"Tasmania’s first renewable hydrogen production plant has been launched north of Hobart, where it will produce 262kg of the green fuel a day – enough to run the equivalent of two fuel cell powered passenger ferries.

...

Attached to a microgrid system which can generate up to 100% renewable hydrogen, the ITM Power electrolyser is the first of its kind in Tasmania to draw on 100% verified renewable electricity from the state’s mostly hydro-powered grid."

Great to see a write up on delivery from a project RNS'd in 2021

RNS Number : 3215L

ITM Power PLC

12 January 2021

"In addition, ITM Power has received a purchase order from Optimal for the provision of its 0.7MW HGas electrolyser system for use in a hydrogen microgrid project in Tasmania supported by the Federal Government's Blue Economy CRC programme. This first deployment with Optimal will be a platform for training (through ITM Power's Hydrogen Academy) and the development of the relationship between ITM Power and Optimal."

@SpicyTuna, if in your opinion the investors who bought at 400p have sold out by now, which you have not presented any evidence for, and only the ones with courage still hold, as Bilbo says, they are not likely to sell now. We got to 25p as you put it on thin volumes being traded, leveraging the impact of marginal pricing. There's no evidence of a mass sell-off over the last year 600million shares have changed hands, which is the daily average of 2million per day. It is just as likely that this is predominantly the same shares changing hands multiple times as it is the entire float being unloaded, as this is patently untrue. I've already shown that over 300million shares are in the hands of named investors such as Linde and JCB as shown on ITM's website so not hard to research. So your statements put forward with such certainty are as ephemeral as clouds.

As for Helikon as per their latest published accounts they had around 11 million cash in bank and around 5 million of trade debts to receive; after taking 17million in dividends over the year and previous year. A third of the assets at Sept 2023 is needed to buyback their position assuming they can get it as 27p which as has already been said is unlikely because it will be spotted when they try to unwind. You can't close down the discussion on that anymore that T or LL can close down your constant pessimism.

It is not a boring conversation about shorters closing to move on from, it is the question for most people here. You say where are the buyers? I put it to you the problem Helikon and Qube has is "where are the sellers" because these shares are locked up tighter than tight and that is why this is not boring at all.

And that's a great answer IKFA, very clear and concise. I think the reporting requirements change in April to add anonymity, but as far as I know, the total position still has to be reported. So we might not know who jumps first but we should still know when they jump.

@hairydavey, I do think a takeover is possible but 56.7% of the shares are in named hands and the bulk of the rest in the hands of LTH who are gripping them tightly knowing the squeeze is round the corner. It is going to be a challenge to push a takeover through against that backdrop.

It must be your enthusiasm to churn out messages impacting your typing. If you think the company is that poor, call for an EGM and raise a resolution to replace the board, petition to wind-up to get some of the cash in the bank as dividend. Who knows, I might even support it. Posting on here, is not calling anyone out.

@Hairy, much as I dislike to concept of shorting because as I have said before, the act of selling something one doesn't own such as a house is fraud and illegal (although for the deprived house owner, impossible to retrieve after the land registry is updated, as has happened), shorters themselves are a symptom of the disease, not the disease itself.

The disease is marginal pricing, it is intellectually incontinent, to infer that the price of the last share to change hands sets the price of all other shares even though they haven't changed hands and so remain at the price they were last exchanged at. Shorting would become much less lucrative if the share price was set at an average of the price all shares last traded at. Especially when there are over 616 million shares the bulk of which are being held onto tightly by their holders.

However, that is never going to change because too many financiers make too much money out of the current arrangements. If you agree with my view, find 340 or so like minded souls and try to persuade the electorate to vote you in at the next election. I'm not going to though. I like being curmudgeonly and griping about it.

Your really should stop depriving yourself of all the free entertainment!

Rather than attempting to insult and belittle other posters, @Elysian, why don't you substantiate your allegation that the CEO is performing terribly and so is the company. In the last couple of years, the solutions have been productised, the cashburn reduced, recruitment evidenced for roles specific to expanding markets, production quality improved, testing failures reduced, customer disputes resolved and a burgeoning order book.

While Lucky can be overly enthusiastic at times, he just posted a timeline of orders and significant achievements to rebut your unsubstantiated allegation. Not reportable in my eyes.

Wow been driving for 3.5 hours so missed all the drama. As I've said before, a loss is only a loss when you crystallise it (or a profit for that matter).

AIM is synonymous with Casino - it is a gamble, they can go up as fast as they come down on such thin volumes.

Never gamble more than you can afford to lose - of course I'll be disappointed if it were to fail or get taken over at a low price but more because of the lost opportunity for a true circular economy for energy rather than the lost investment. It happens, if one can't cope with losing it, don't gamble it - sorry invest it.

Why thank you Seaangler, in the words of the great Bilbo "shucks.."

I suspect some would consider some of my posts as tripe, including this one. I'll leave it to individuals to form their own opinions of what over recent weeks has or hasn't been tripe, and languish in mine own interpretations.

Well hopefully he has been as amused as some of us have been with all the tripe on here.

Equally, thanks to the shorters for driving the price down it couldn't fall much further when the USA sneezed.

As for the price movement of such thin volume, that is the flaw of marginal pricing. Same in electricity balancing that the marginal price of the last 1MW of power needed to balance the system sets the price for the half-hour being traded. It is a nonsense that selling 1 share can drive a SP down or up when as mentioned the majority of shares have stayed in the same hands at the price they last traded at. But that's my own personal gripe with Economists which I know I'll never win. Still find it a nonsense up there with my opinion of selling something you don't own being fraud. Also an opinion I am in the minority on when it comes to share dealing.

Thanks @Bilbo that sounds like a handy patent

Is this good or indifferent to ITM? I dont know enough about the electrodes in their stacks and can't see in the tech sheets?

https://www.azocleantech.com/news.aspx?newsID=35578#:~:text=According%20to%20a%20study%20published,at%20a%20significantly%20lower%20cost.

According to a study published in Chemistry-A European Journal, researchers from the Tokyo University of Science (TUS) have developed a new hydrogen evolution catalyst, bis(diimino)palladium coordination nanosheets (PdDI), which offers platinum-like performance at a significantly lower cost.

"Just as the light of a single candle can dispel the darkness of a thousand years, the moment we light a single candle of wisdom, no matter how long or deep our confusion, ignorance is dispelled" - Joseph Goldstein

@SpicyTuna, so no direct impact of inflation on ITM. As Bilbo and I have said, if anything the tariff war may lower ITM raw material costs if China and other countries take up the slack in the supply chain if there is any? I'm sure you realise that inflation doesn't impact all products uniformly and there can still de deflation or stagnation of some goods even while the overall inflation figures are increasing?

Inflation was already on the way up in the UK before the tariffs were announced, some might argue pay rises, tax hikes and other actions were inflationary in the last budget. So claiming ITM will be impacted by the tariff hikes, simply isn't accurate, it is at best a suspicion.

You recently have called out Lucky and Troublesome for posting articles that have no direct relevance to ITM or even green hydrogen, not an unreasonable position on your part. But quid pro quo it is only fair to be challenged on a statement that ITM could be negatively impacted by something that may or may not do such a thing.

I could equally claim that tariff hikes and inflation will increase the costs of petrochemicals and Gas, Electricity prices (which have been volatile) leading to potential for movement towards parity of costs for H2 production by green electrolysis, being a benefit to ITM. I personally think that is a bit of a stretch but it has as much credibility as a claim that the inflation could harm ITM.

Thank you @Bilbo as I've said before you are always more succinct and eloquent than me at conveying the point