Member Info for haggismchaggis1

If anyone talking garbage wants to do a deeper relative valuation, go right ahead, I can't wait to see you try to justify your baseless claims, because I know from the figures that you can't.

What I've provided is WAY WAY more realistic than some crook posting a multiple of cash just to try and justify their figure plucked from the air.

Everyone can see the AFC market value and loss, and compare that to the significantly higher market values of peers and their significantly higher losses. Look at their cash and they are no better off in terms of years available to reach profitability than AFC with it's 2+ years of cash, and 2GW of systems lined up for ABB to start with, more to come for sure now tha S+ Series has been independently validated by IAV.

Omitted the AFC USD figures, here they are:

AFC
MCap $191m
12 Month Loss $21.1m

Relative Valuation!

As you can see, based on earnings and losses, AFC is hugely undervalued compared to its peers in the UK and USA. AFC has no debt, £40.2m (at least two years worth!) in cash, and is now moving into sales where it's very likely to get a big re-rating upwards as the sales come in. PPS is also possibly undervalued and under the radar, but has huge borrowings, so no way it should be valued higher than AFC but both should be a lot higher.

AFC
MCap £153m
12 Month Loss £16.9m

CWR
MCap £733m
12 Month Loss £51.5m

ITM
MCap £523m
12 Month Loss "2023 adjusted EBITDA loss expected to be in the range of £85m to £95m" (£54.1m loss stated for H1 22)

PPS
MCap £159m
12 Month Loss £8m for H1 2022

Versus USA Companies

AFC
MCap $
12 Month Loss $

BE
MCap $4,126m
12 Month Loss $198m

BLDP
MCap $1,664m
12 Month Loss $149.2m

FCEL
MCap $1,120m
12 Month Loss $93m

PLUG
MCap $1,664m
12 Month Loss $162m

Two weeks ago in reply to the typical con man lies on here, I advised:

"Half year cash balance of £48.6m (HY 2021: £61.3m) with a loss for the period of £8.5m (HY 2021: £3.6m)"

I said that if AFC had used £10m it would have £38.6m left, which is enough to last two years.

Today's RNS advises:

"The Company continues to operate as expected and had cash of c.GBP40.2 million as at 31 October 2022."

So as always, far from ramping, I was being conservative as always.

£40.2m plus the £2m cash AFC are getting from ABB.

This year sales of S+ Series 200kW to ABB to come, plus Power Tower lease revenues.

AFC has PLENTY of money to get to profitability, that is another reason why it is undervalued at £155m IMVHO. The DCF valuation by the two brokers confirms this.

Talk of 11p is just some shorting con man wanting to make his scummy short pay off, it is baseless garbage numbers plucked from the air, has no basis as a genuine valuation

Everyone including the dimwit shorter KNOW that companies that are not yet making a profit are valued on their Intellectual Property, products, market sizes, and potential to turn into a £Bn+ company, which AFC clearly is, as stated by TWO BROKERS (they can't both be wrong!).

"Peel Hunt is maintaining a buy rating and target price of 195p."

https://www.proactiveinvestors.co.uk/companies/news/1008596/afc-energy-getting-good-feedback-for-hydrogen-generator-says-peel-hunt-1008596.html

Zeus Capital
"We will review our long term valuation which was in excess of 180p per share post results."

https://www.***************************/afc-energys-long-term-opportunity-remains-vast-says-zeus/4121069453

That is Peel Hunt at £1,468,350,000 valuation and Zeus Capital at a minimum of £1,323,000,000 valuation, which makes the current valuation of £155m DIRT CHEAP.

The dimwit shorter simply does not know how to value a company, so is just plucking numbers from the air and claiming that is what AFC is worth, that is just what con men do. Brokers tell you what deep analysis of inside data from AFC tells them.

Everyone including the dimwit shorter KNOW that companies that are not yet making a profit are valued on their Intellectual Property, products, market sizes, and potential to turn into a £Bn+ company, which AFC clearly is, as stated by TWO BROKERS (they can't both be wrong!).

"Peel Hunt is maintaining a buy rating and target price of 195p."

https://www.proactiveinvestors.co.uk/companies/news/1008596/afc-energy-getting-good-feedback-for-hydrogen-generator-says-peel-hunt-1008596.html

Zeus Capital
"We will review our long term valuation which was in excess of 180p per share post results."

https://www.***************************/afc-energys-long-term-opportunity-remains-vast-says-zeus/4121069453

That is Peel Hunt at £1,468,350,000 valuation and Zeus Capital at a minimum of £1,323,000,000 valuation, which makes the current valuation of £155m DIRT CHEAP.

The dimwit shorter simply does not know how to value a company, so is just plucking numbers from the air and claiming that is what AFC is worth, that is just what con men do. Brokers tell you what deep analysis of inside data from AFC tells them.

The are NO 'issues' at all, as stated by AFC they are just seeking the Auditor's advice, which is just good corporate governance, it is certainly not and never should be described as an issue, but crooks will always try to spin it that way.

As stated by AFC today:

"AFC Energy is working with its auditors to confirm the appropriate accounting and disclosures for the revised agreement within the accounts."

Brokers on companies such as AFC often use DCF which is an absolute valuation. Some also use a relative valuation or peer comparison as it is also known.

Nobody uses a simple multiple of cash unless the company has no business and is just a shell with cash and a valuable stock market listing.

The crook using a simple cash multiple to pluck a valuation from the air is disingenuous. The brokers will be sat in disbelief at reading such garbage posted on here.

The Zeus Capital and Peel Hunt valuations are DCF. You can do your own relative valuation by comparing AFC with CWR, ITM, PPS, and from the USA, BE, BLDP, FCEL and PLUG, by doing this you will clearly see how undervalued AFC is, and that the brokers targets are fair and reasonable.

https://www.investopedia.com/articles/fundamental-analysis/11/choosing-valuation-methods.asp

£40.2m plus the £2m cash AFC are getting from ABB.

This year sales of S+ Series 200kW to ABB to come, plus Power Tower lease revenues.

AFC has PLENTY of money to get to profitability, that is another reason why it is undervalued at £155m IMVHO.

Talk of 11p is just some shorting con man wanting to make his scummy short pay off, it is baseless garbage numbers plucked from the air, has no basis as a genuine valuation

Everyone including the dimwit shorter KNOW that companies that are not yet making a profit are valued on their Intellectual Property, products, market sizes, and potential to turn into a £Bn+ company, which AFC clearly is, as stated by TWO BROKERS (they can't both be wrong!).

"Peel Hunt is maintaining a buy rating and target price of 195p."

https://www.proactiveinvestors.co.uk/companies/news/1008596/afc-energy-getting-good-feedback-for-hydrogen-generator-says-peel-hunt-1008596.html

Zeus Capital
"We will review our long term valuation which was in excess of 180p per share post results."

https://www.***************************/afc-energys-long-term-opportunity-remains-vast-says-zeus/4121069453

That is Peel Hunt at £1,468,350,000 valuation and Zeus Capital at a minimum of £1,323,000,000 valuation, which makes the current valuation of £155m DIRT CHEAP.

The dimwit shorter simply does not know how to value a company, so is just plucking numbers from the air and claiming that is what AFC is worth, that is just what con men do. Brokers tell you what deep analysis of inside data from AFC tells them.

More garbage from Dazaster again I guess. Another negative spin thread topic gives it away.

The are NO 'issues' at all, as stated by AFC they are just seeking the Auditor's advice, which is just good corporate governance, it is certainly not and never should be described as an issue, but crooks will always try to spin it that way.

As stated by AFC today:

"AFC Energy is working with its auditors to confirm the appropriate accounting and disclosures for the revised agreement within the accounts."

As stated by AFC today:

"AFC Energy is working with its auditors to confirm the appropriate accounting and disclosures for the revised agreement within the accounts."

So as with everything in the accounts, including 'note 5', this is all done WITH the auditor's advice and sign-off, thus the 'red flag' claims of the con man shorter are just the typical garbage we should expect from such low life, and ignore.

The con man shorter claims "there is little value on this bulletin board it is run by fanboys and sickofants who just want to listen to a echo chamber"

Yet the majority of people on this board are actually crooks, con men, liars, toerags and clowns, so his claim above is the biggest load of pontificating garbage and lies to try and support his baseless claims that he's so far posted.

Two weeks ago in reply to the typical con man lies on here, I advised:

"Half year cash balance of £48.6m (HY 2021: £61.3m) with a loss for the period of £8.5m (HY 2021: £3.6m)"

I said that if AFC had used £10m it would have £38.6m left, which is enough to last two years.

Today's RNS advises:

"The Company continues to operate as expected and had cash of c.GBP40.2 million as at 31 October 2022."

So as always, far from ramping, I was being conservative as always.

£40.2m plus the £2m cash AFC are getting from ABB.

This year sales of S+ Series 200kW to ABB to come, plus Power Tower lease revenues.

AFC has PLENTY of money to get to profitability, that is another reason why it is undervalued at £155m IMVHO.

Talk of 11p is just some shorting con man wanting to make his scummy short pay off, it is baseless garbage numbers plucked from the air, has no basis as a genuine valuation.

The dimwit shorter thinks I've been an unsuccessful investor, usual garbage from someone that is only here to make their short pay off.

I'm not even going to go into how successful I've been over the past 30+ years of investing, suffice to say dimwit shorter is totally clueless about that too, and shall remain so.

Auditor costs have no relevance to AFC potential to succeed, the cost is a drop in the ocean compared to what AFC will be raking in. Auditors give AFC the costs, not the other way round, if AFC thought the costs were over the top they would quite simply change Auditor like any other company. Dimwit does not have a clue how much it SHOULD cost to audit AFC Energy.

The benefit in kind IS described in the accounts, dipstick either didn't read that far or chose to ignore it and make out it was something dramatic when clearly the highly paid auditors were happy enough with it to LEGALLY sign-off the accounts!!

Everyone including the dimwit shorter KNOW that companies that are not yet making a profit are valued on their Intellectual Property, products, market sizes, and potential to turn into a £Bn+ company, which AFC clearly is, as stated by TWO BROKERS (they can't both be wrong!).

"Peel Hunt is maintaining a buy rating and target price of 195p."

https://www.proactiveinvestors.co.uk/companies/news/1008596/afc-energy-getting-good-feedback-for-hydrogen-generator-says-peel-hunt-1008596.html

Zeus Capital
"We will review our long term valuation which was in excess of 180p per share post results."

https://www.***************************/afc-energys-long-term-opportunity-remains-vast-says-zeus/4121069453

That is Peel Hunt at £1,468,350,000 valuation and Zeus Capital at a minimum of £1,323,000,000 valuation, which makes the current valuation of £155m DIRT CHEAP.

The dimwit shorter plucking numbers from the air and claiming that is what AFC is worth, that is just what con men do. Brokers tell you what deep analysis of inside data from AFC tells them.

Well that is interesting! The Leandra is right next to this:

"DSIC Changxingdao Shipyard is located in Dalian Changxing New Development Zone (No.1 yard) and city center (No.2 yard)"

https://www.jmlshipyardagency.com/dsic-changxingdao-shipyard

https://www.dsic-cxd.com/en/index.html

Nobody should question the credibility of the company or its Directors, as they have to comply with strict listing rules and regulations, strict financial conduct authority oversight, and strict audit requirements.

Con men on here only have to comply with terms of posting, which are way too easy to bypass, allowing blatant misinformation and market abuse to be regularly posted, even though hours later it 'might' be deleted.

What you need to question, is someone that spends all their time sifting through the minutest detail of every RNS going back many years, just looking for some tiny bit of irrelevant information that they know nobody on this board can answer questions on (because, as they know full well, only the company knows the intricate details), and use that to try and create negative spin with baseless accusations and insinuations about the credibility of the company and its Directors.

If they really wanted answers instead of just flooding this board with misinformation as attempted market manipulation and thus market abuse, they would direct their pointless questions to the company.

https://www.afcenergy.com/contact-us/

As confirmed by poster 'grappa' on the TOM board, the delay is down to lack of resources at the auditor just as I said. This was confirmed by the NOMAD.

Thanks grappa, goes with what I posted earlier. Staffing crisis at auditors.

https://www.accountancyage.com/2022/07/08/accounting-firms-must-discover-create-and-train-talent-amid-global-shortage/

No idea who it is as they are filtered, but guessing it's Troll 000.