Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I would not call it 'speculation' so much as rational investing based on what information the company had put out. The first and only sign that those previous statements of the litigation value should be distrusted was the 9/1/23 RNS which was itself so obscurely worded (as it had to be to avoid any implication of wrongdoing) that it left many investors guessing, myself included, as to what it did actually mean.
The Directors would rather brush this away but what belies the situation is a matter of substance which affects people's lives and their livelihoods. I hope that members of the Board are not resting easy and that one of them may have the decency to own up to the truth - let's face it, the company has money in the bank to pay off a legion of duped investors, and if the Directors truly believe commercial success is around the next corner then this will not affect the company's future fortunes.
Thank you Henry. I am not going to apologise for being misled. I think the facts are hard to avoid, and Pallas say it better than I ever could . I have no confidence in the board, and nor should anyone else.
One to watch.....
https://etrio.in/about/
Former Avtec CEO Prabhakar Kadapa joins Etrio board:
https://www.google.co.uk/amp/s/auto.economictimes.indiatimes.com/amp/news/industry/ev-maker-etrio-automobiles-ropes-in-prabhakar-kadapa-as-board-member/90933667
“After working actively for several decades in the automotive and EV industry, I am delighted to be a part of Etrio’s story,” Kadapa said. “Electric vehicles are here to stay. I am looking forward to helping Etrio launch a series of cutting-edge next-gen electric cargo vehicles and supporting strategic organizational development as electric vehicle volumes pick up in numbers," he added.
Has anyone heard from that genius investor NigWit who foolishly reinvested despite such a clear signal that the management care but only for themselves? It was a calamitous end to the litigation and the share price is exactly where it should be.
You are not the only one feeling that way, and I speak as someone who only recently came on board. The Directors seem happy to not put out much info by way of RNS news- e.g. Marathon Leisure distribution partnership was not mentioned. A few shareholders need to start rattling their cage.
Unhooked, it just seems like a waiting game with this one tbh. Nothing good ever happens overnight unless it comes with a large dollop of good fortune. Investing should not be a punt and investors want stocks that provide returns in a bear market. Equally, not every growth stock can be on the wrong path. Plenty of them will be duds, but not all. Will SED come good, or will it fail? I have no idea, but I don't expect the market to give temporary relief or cheer. Invest and look away.
"... seems bizarre now to view the rise post IPO and see any logic to it, beyond the enthusiasm for companies with no actual figures to anchor the sp to reality."
Yes - truly bizarre! Markets are sometimes crazy, and they frequently overshoot in both directions.
Katstrangler _ I posted it below, but here it is again. Orders can be placed right now. No reason to think this won't bring in some chunky revenues given the electrification mandates in EU countries, and places like Amsterdam which are transitioning quickly: https://www.reuters.com/article/us-climate-change-netherlands-idUSKBN20Q1W7
. The company has not failed to meet its timescales, it is simply the case that the market has grown impatient.
https://www.greenboatsolutions.com/shop/motor/outboard/propel-s1
Propel S1 - 10 kW outboard
Electric outboard with 10 kW continuous power. The enormous efficiency and very high torque provide optimal propulsion. 48 V low voltage. The Propel S1 is available with continuously variable tiller or remote control. Both have an integrated display.
The outboard is available in three different shaft lengths.
Input power: 13 kW
status:
available (from April 2023)
shipping:
4-5 days
8,259.00 €
incl. VAT, excl. shipping
We can expect near term revenues from Propel (starting April '23).
"The market comparables of Torqeedo and Pure watercraft have valuations over USD $0.5bn and the Board believes the Saietta products are superior"
https://investors.saiettagroup.com/wp-content/uploads/2022/11/SED-Corporate-Presentation-24-Nov-2022.pdf
Don't shoot the messenger!
Early Bird - it's the market, and we must trust that the market is never wrong. Hope value is given very little value in the current market. The IP / technology has gained significant third party approval / endorsement but we await consumer validation in terms of sales - there is no evidence of that either way at present. The motor drive tech is essentially a modular concept so in my view it does give significant reassurance that orders are currently being taken for Propel's S1, so I am on the buy side at current share price but it may take 6-12 months to see something tangible. The most comforting aspect is they bought up some serious manufacturing capability on the cheap or else future dilution would be a problem. It appears that most of the cash is earmarked for ConMet production and from what I can see there is no pressure to raise funds.
https://www.electrichybridmarinetechnology.com/features/site-visit-propel-demos-its-first-electric-outboard-motor.html
This is the review I could find on-line. It is a recent article: 17 Feb '23. They seem to be targeting business from rental fleet operators with the USP being ease of use, cheap installation and repairability.
They also mention expansion of the product range with an entry-level 7kW and higher-power 13kW variant; and other variants of the standard propeller development to working vessels and RIBs.
"Propel will begin series production of the S1 in early 2023 at a new assembly line in Apeldoorn. Distribution plans are also underway, with 10 dealers in the Netherlands already nominated and going through training and onboarding. Propel has just announced an exclusive distribution deal with Marathon Leisure for the UK and Ireland. According to Propel, discussions with dealers and distribution partners in several other key markets across Europe are at an advanced stage and agreements will be announced in the coming months."
I should qualify my last post ever so slightly. Propel's D1 inboard motor is already selling. It is the higher value S1 outboard which starts selling from April '23 (with orders currently being taken). Propel has a 'B1' modular battery solution too. The European market for leisure marine outboard motors sees 200,000 sales per year and is worth US$900, with the company forecasting 74% of those sales to be electric by 2030. The sales prices are quite chunky:
https://www.greenboatsolutions.com/shop/motor/outboard/propel-s1
Propel S1 - 10 kW outboard
Electric outboard with 10 kW continuous power. The enormous efficiency and very high torque provide optimal propulsion. 48 V low voltage. The Propel S1 is available with continuously variable tiller or remote control. Both have an integrated display.
The outboard is available in three different shaft lengths.
Input power: 13 kW
status:
available (from April 2023)
shipping:
4-5 days
8,259.00 €
incl. VAT, excl. shipping
https://www.greenboatsolutions.com/shop/motor/inboard/propel-d1
Propel D1 - 10 kW inboard engine
Electric inboard with 10 kW continuous power. The enormous efficiency and very high torque provide optimal propulsion. 48 V low voltage. The Propel D1 is available with infinitely variable remote control and integrated display. Comparable to 20 hp inboards. Stainless steel housing.
Input power: 13 kW
status:
upon request (as of March 2023)
shipping:
4-5 days
6,089.00 €
incl. VAT, excl. shipping
Katstrangler - I don't agree with your summation of what has occurred, as it is clear from the RNS that the company has turned its back on short term revenue generation opportunities from smaller contracts (e.g retrofit opportunities) in order to focus on bigger, strategic opportunities: ConMet and Saietta VNA. ConMet revenue received a new accounting treatment, which notionally reduced profit; but that 'cash' is on the balance sheet. This has crushed the share price whist at the same time opening up an investment opportunity for the brave, if you believe that SED will be successful in turning its large contracts into revenues and profit.
The scheduled start is Sept. 2023 other than for Propel, which starts selling April '23.
We are in a market which currently places little value on 'promising' small growth companies, so these falls are to be expected. The money has moved to positive revenue generating companies. This will change if SED executes on its business plan. So far so good on the operational side and 2023 is the year we should find out whether all this translates to meaningful production revenues though I don't think we can really expect to see much by way of 'news' until Q2/Q3 (FY23/24).