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When you put it like that Anne, it shows that AFC has lifestyle company written all over it. Even Bumble has given up ramping it as it's now clear that there's no prospect of AFC reaching its objectives in the near future with the ABB deal all but dead. Another classic failure to deliver by Bond. Why he's still in post is beyond me.
i suspect the news flow will completely dry up now. bond has **** his bolt and the sp languishes at 17p! it'll take more than a few fuel cell generators going to speedy, probably not even for a profit, to rescue this dog. bond out!
Although when a company's shares are going up and its future looks bright, there are always posters keen to post about it as they feel good and want to share their positivity with others experiencing the same. Look over at the RR board. The lack of posts on here strongly suggests the opposite applies i.e. that AFC investors are not feeling good about this stock. I reckon they now realise that big shareprice rises are firmly off the table for the foreseeable future, hence the poor sentiment.
Https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://amp.scmp.com/business/article/3257206/prudential-sees-windfall-hong-kongs-cash-residency-scheme-greater-bay-area-opportunities-ceo-says&ved=2ahUKEwigiPS4_KCFAxWuQUEAHeUOBBEQFnoECBgQAQ&usg=AOvVaw2n2Qe2CywVhzzMUEoAqXPX
The current shareprice is way too low for a company so obviously on the up!
And with the miserable, cloudy weather continuing in the UK, there'll be an even greater urge for many to get away to sunnier climes to escape dreary Blighty. Let's hope 2024 is the year easyJet's SP really breaks out and heads back to £10 where it belongs given its bright future.
Good point Daz. Bond has made fanciful claims before, including, in my opinion, giving the impression that AlkaMem was on the verge of becoming commercially viable when that was not the case. If the £27 million order book turns out to be fanciful, I hope he gets investigated.
I think if the shareprice attrition continues, Bond's position will become untenable. It was his Q&A session that precipitated the latest fall so that makes him directly responsible for it. The shareprice has been in the gutter for years now and it's time Bond was held accountable for that. Investors have lost lots of money thanks to being sucked in listening to his overly optimistic assertions over many years. Probably the biggest porky of all was the false hope propagated by Bond that AlkaMem was a realistic proposition. I suspect they knew it was never achievable at least not in an acceptable timescale. The 200kW unit seems to be taking a similar path. Enough is enough!
One wonders what happened to the 100kw unit that was allegedly tested and exceeded 100kw. See below from RNS March 2023, a year ago!
"New S+ Series fuel cell stacks exceeded the cumulative 100kW target output over validation period.
The milestone is the first of a two-stage development programme first announced November 2021 that will now see a modular 200kW high power fuel cell system scheduled for first operation later this year, which will be followed by product certification immediately thereafter. The state of the art 200kW hydrogen power generator unit (and battery system) will then be sold to ABB E-mobility."
All BS of course! They seem incapable of perfecting higher power density fuel cells or being honest. Think AlkaMem!
Great bit of summarising Daz. The ABB unit is so far behind I wouldn't be surprised if it never happens and as for the £27 million order book, it's a work of fiction. I fear this company will run out of money and go bust before break even and I suspect Dixon Clarke will be off soon to salvage his reputation. His demeanor listening to Bond waffle on, spoke volumes. Jim Gibson got out as he could see where this was going i.e. nowhere fast! It's all very disappointing but predictable with Bond running the show.
I watched the Q&A and am still none the wiser as to the genuine prospects of this company. The ABB 200KW unit is at best over a year away according to Bond so that's a big disappointment straight away. His staccato style of talking is very hard to follow and he tends to waffle. The contrast between Bond and Dixon Clarke was stark. Bond has done well out of AFC but the company needs a slicker more professional CEO to move it on. His poor performance on the Q&A is a major factor in the subsequent SP decline I believe. He needs to go. Simple!
At least he's arranged a more reasonable start time compared to last year. Not shying away this time. Maybe he's expecting some better news to land before 25th April! I mean if the hockey stick SP rise has still not materialised I don't see what Dixon Clarke can say to retrieve his credibility. As it stands both he and Bond have zero.
AFC is not a serious company. It's taken nearly 20 years to come up with the power towers now being acquired by Speedy. It's a far cry from what we were promised by way of AlkaMem containing high power density, alkaline fuel cells. Bond et al are just there for their own enrichment.
Another Aim disaster to add to my accruing tally. I fear the end is nigh here save for some miracle. Whatever sales have been achieved to date have not brought in enough revenue to even keep the lights on. It's all very disappointing. I think aim needs to be more closely regulated to prevent aim directors from getting rich at the expense of hard working private investors. It's a disgrace really.
So the £27 million of orders is a bit like the infamous 2021 statement telling investors of imminent orders. See below.
"Current book of over 50 qualified fuel cell deployment enquiries - the majority of which represent multiple order potential."
It was obvious that the 200kw unit was delayed but as you say Daz, no mention of that to shareholders. Bond's MO is not conducive to creating market trust in AFC's ability to deliver what it says it's going to hence the languishing shareprice.