Member Info for Gitfinger

Garonne….same old, same old…still no viable product and just regurgitation of the usual “jam tomorrow” line, except this time we have the holy grail of some S&P partner to keep the gullible on the hook…

I personally haven’t forgiven the company for the disgraceful smoke and mirrors act over the ABB fiasco….

Oh how I laugh! “Mistakes happen”……..but how many times?

So what does the “AFC” in “AFC Energy” stand for? Oh, of course ALKALINE FUEL CELL……except the company doesn’t really make one, does it? Nope, it’s exited stage left from that particular cul de sac and gone headlong into ammonia crackers, producing hydrogen from ammonia….errrr…wouldn’t the sensible thing be to develop an electrolyser which uses renewables to generate H2 direct from 100% clean energy? Except that kind of uses the same fundamental tech as a fuel cell which AFC isn’t actually very good at developing, is it?

And go on, recycle the garbage about H2 from ammonia using less power than using a reformer which was the old smoke and mirrors twaddle that the company used to justify the development of the cracker white elephant ( this company has so many white elephants that it could start its own zoo)

So long as the gullible keep swallowing the lies, the company will keep stringing you along…..years ago, people were lambasting me for being a doubting Thomas, and saying “the company will prove you wrong”……but is hasn’t yet, has it?

So what’s irresponsible to inexperienced shareholders….simply pointing out that the company has never delivered a commercially viable product, enters into various deals with people and when it can’t deliver won’t fess up…to the point where it has issues with its auditors over income recognition and then won’t write off the deferred income when the product can’t deliver but says it will release it as a discount on future sales which have yet to take place, enters into a j v company developing a product that no one wants, then goes off on a tangent developing a cracker which strips h2 out of ammonia which has to be manufactured with no actual use for the h2 in its own products because as already stated, none are commercially viable….oh, yes, the new MD….i seem to recall that Balchin, Williamson, bond were all treated as the messiah promising the holy grail of commerciality until each was found out just to be a very naughty boy…..why should this one be any different? All he’s really done is offer a different flavour of jam tomorrow….

You keep talking it up if it floats your boat, but leopards and spots….except this thing isn’t a big cat…..ITS AN ABSOLUTE DOG

I dunno, you go away for a few months, check back in and…..WOW! Exactly the same position as for the last forever, no firm evidence of anything, all “this time next year Wodney” and the same old deluded fools thinking they can polish a ploppy log all by the power of wishful thinking…..Get a grip people! Write this off, and treat any recovery as a bonus, because unless you do this, there’s only one certainty and that’s disappointment…..do yourself a favour and look at the 5 year chart…..

Oh my days!

You know we’re in trouble when the loons start talking about mms holding it back and charts and all that…..

Yup, that's about it....to the land of green cheese!

Well, cheese makes a change from Jam, I suppose.....

Best case scenario is that this dog manages to claw itself up to about 23 pence so that I can exit at a kind of break even. Don't hold out a lot of hope though, because its still the land of if, buts and maybes.....change of CEO, same lame duck product, same old jam tomorrow........

From the RNS announcing the magic beans arrangement with the secret squirrel "SP500" outfit.

"This announcement serves to underpin our strategy to deliver commercial viability of the hydrogen economy without government subsidy and will provide a further suite of roadmap products, alongside our hydrogen fuel cell power generators, to accelerate us to that point. We are delighted to have signed the JDA with the Industrial Partner, whose commitment to AFC Energy's proprietary ammonia cracker technology provides important industry peer validation, as we further commercialise and develop AFC's offering. We look forward to developing our commercial relationship with the Industrial Partner and using our technology to help heavy industry to decarbonise its operations."

So, what's the bit about "without subsidy"? as far as I am aware, the company is still seeking R&D tax credits, bit directly and indirectly and isn't that effectively a government subsidy? Just asking for a friend.......

Wasn’t the phrase “committed orders” used rather a lot by the Les Grossman lookalike? I wasn’t aware that he’d actually used the -phrase “contractual” and I would have thought that unlikely because it’s not really vague enough……remember, everything coming out of this operation is designed to be so vague as to be open to multiple interpretations, i.e so that the Ubers can continue to clutch at straws and delude themselves and each other…..I hope he did actually say contractual though, because that would possibly give some scope for an action to be brought against him…..

So here we are, many years on, still no tangible signs of anything remotely commercial, same old “jam tomorrow” promises from the new management and still the acolytes live the dream expecting some kind of actual return from this smoke and mirrors outfit.

How many “it was all the predecessors fault, I’m the new messiah” cycles are we going to go through before they latch on the the fact that this is an absolute house of straw…….remener folks, we’ve had

Balchin

Williamson

Bond

All of whom were going to set the world alight…..who’s to say that Wilson will be any different…..still nothing actually tangible yet, is there?

This is indeed true! However, 210 x virtually nothing is still virtually nothing.......

Has anyone actually read the RNS? so how precisely is this JDA with "Secret Squirrel Inc" going to generate funds for AFC during the gestation period of the project? We all now know that the modus operandi of these arrangements is that the headline news is that AFC is "going to be paid" and then there's some side door kickback where the JV /JDA partner / Tier 1 construction potential customer gets reimbursed...

case in point :

ABB.......discount wrapped up in share deal and discount agreement...funds received as a part of that development deal still shown as deferred income and not yet recognised as income. This only gets released when units sold....and there's no requirement to buy on ABB's part

Tier 1 construction customers : Trials resulted in negligible net income because costs were reimbursed by "payments in kind" whatever they are...Obviously real world testing with these companies was necessary to discover that the kettle boiler wasn't for for purposes.....

Speedy / JV company. Again, there is an arrangement for speedy to reimbursed their admin and promotions costs, so we don't actually know what the net cost top them will actually be until accounts are published.

It could almost appear that, if you were of a suspicious mindset, that AFC enters into these agreements (or, MOU's in old money) out of desperation, simply to give the appearance that something is actually happening, and that the terms are set from the perspective of it being a buyers market..

Question is.....what was the sticker price for the units sold into the Speedy JV, was it based on the incredible "15 percent of our first go at this" price, or the full fat " its cost us squillions to make these" first attempt?

Constructwaddle...... same old overly positive spin as per usual, its all jam tomorrow, based on precisely what?

Garonne

Oh, come on, you old naysayer!

It's obvious that the cracker is the next big thing (rather than the previous next big thing, or the next big thing before that) and all of the institutions will be queueing up to lend vast amounts, especially as the company now has a shiny new JDA with "someone who shall remain nameless" on indeterminate terms.....

Could be Linde......should be air products.....could be the man in the moon.....or it even be Ade...........

Well, knock me down with a feather! A JDA with a mysterious “Mr Big” who wants to remain anonymous, the details of which aren’t known, with future income being reliant on meeting performance milestones……sounds good to me…..a bit like the ABB thing was meant yo be the future of fuel cells got the company….except it wasn’t, becyae milestones were t met….so all looking good…..

Daz

Funny how none of them ever post anything that says "AFC retraces X% in a week / month / quarter/ year but are quite happy to trumpet an uplift from an already decimated baseline....

They seem to be a bit like the rubbish gamblers who never count their losses, only their wins, and even then, don't take into account their original stake.

I dunno why anyone gets so excited about RNS from this here outfit, after all, they'd issue an RNS about the CEO going to the opening of a crisp packet.....

There's a fundamental flaw with one of the arguments put forward "why would the directors put their won money into the company"......well, it's not really THEIR money, is it? if you look at the two who have "invested" there remuneration package seems completely out of kilter with the remuneration one would normally expect from a company in this particular point of its gestation.....so it's really SHAREHOLDER money that's been used......

But Ade, you're not really a veteran, are you?

Ade.....the ultimate "LFC influencer"

WOW, just WOW.........

I didn't realise that we were blessed with the presence of such a genius polymath on this little old site......not only is Ade a genius investor, but is now an expert in the noble art of body language......is there no beginning to his talents?