Member Info for Hexam

Yes, they are not that confident about the next year but they go on to say they think they can raise more money if needed. The key thing though for me is that there has been some talk that recent PRNs were a prelude to a raise in the next few days or weeks. This appears now, to me anyway, to be completely off the table which is great.

As I'm often accused of never saying anything positive, being a shorter (despite my proof of investment) and generally abused for being a 'troll' I'd thought I'd start a positive thread. In amongst what I think is all the bad news (covered elsewhere) there is a bit of VERY good news. Though not exactly sounding very confident the going concern statement does seem to put to bed any thought that there will need to be a raise in the near future and possibly for as much as twelve months:

"Forecasts for the period to 30 June 2026 has been prepared on the prudent assumptions that the Group will still be non-revenue generating, will not receive any portion of its litigation claims. Nonetheless, on the basis of the equity funding raised in January 2025 which raised a total of EUR 2.417 million (before expenses), and the extension on our two convertible bond repayments from December 2024 to December 2026, the Board believes that the Group, at the date of this report, may hold sufficient liquidity to sustain its operational existence for the following twelve months without the specific necessity to raise further funding either through an equity placing on AIM, or through other external sources, unless for additional specific investment opportunities or ventures."

You're welcome.

"Today's drop on very low volume is also strange."

Why? There could be no volume and the sp still move. MM move the price around to try to attract business, more so if volume is light, and it's no surprise to me they moved it lower on today's RNS. Also the volume only shows what deals have actually been placed not anything that may be happening in the background (e.g. there may be someone trying to offload a lot of stock).

"Lord,

Its quite something admitting to yourself in front of the mirror that you are a fool.

Admitting it with facts on a forum in front of many other users is not a good look."

Then why have you set up an account today to do exactly that?

Janiax, you seem more level headed than most so I'm surprised you're joining in the MM manipulation myths and lunacy that are the last refuge of so many hopeless gamblers on these boards.

"Lol Hexam, North of he said, 160 isn’t shrinking to 10 when it’s still shown on QBT web page as 160"

I think it has (or at least not much over 10%). Aside from the interview (why say 'north of 10%' if it still is 160%, why lead on Method C if Method B is as close to deals as you say and has much bigger benefits and why is the 160% conspicuous by its absence in the results (it previously was included at every opportunity).

All the clues are there, you just have to take off your blinkers to see them.

"QBT is currently in discussion with two companies to integrate its Method A and B AI technologies into existing aftermarket control boards, aiming for rapid market entry through this large user base (as announced on 19 June 2025)."

Even if they do get deals for A and B the significantly reduced benefits from both methods means the impact on sp will be much. much less now. I made my estimate of £1 if they got Method B working on it providing 160% improvement. It is now 'north of 10%' so that £1 prediction is history. Method A is down from 10% to 3% so any cut to QBT may not even cover expenses.

In any event as the RNS states for A and B that "in both cases the Company is meticulously checking the intermediate and final results of the testing before moving into the final steps that are hoped will lead to the commercialisation of the method-hosted products." That doesn't exactly scream revenues soon and with Method C "QBT is currently collaborating with two ASIC chip manufacturers who are about to begin detailed evaluations of Method C and its integration into their upcoming ASIC designs" (with that integration costing a quoted $20m) then revenue seems a long way off here too.

Personally I can't see revenue emerging in 2025 and for A and B if it ever does come then the expectations of the amounts has been set far lower than they were - with no PRN to explain why, just a throwaway in an interview.

Janiax - I have listened several times and as always it's a bit of a challenge trying to decipher FG's mutterings. My interpretation was that the 10% has dropped to 3% from making the method more generalised i.e. more widely acceptable. As for Method B you're right that north of 10% could be much higher but why describe something that was stated before (many times) as being a 160% improvement as now being 'north of 10%' - that's some serious underselling! These I believe are huge reductions in expectations.

There has been a lot of chat today of revenue at the end of the summer but what he actually said was something like they'd like to deliver something (possibly revenue but it took him so long answering he could have been talking about something else by then) AFTER summer (so could be long after) and AFTER commercial negotiations - so not an expectation but more of a hope. A bit like the revenue in 2024 'promise' but with less confidence.

Then the bombshell that for Method C they are reliant on a chip manufacturer taking a leap of faith and shelling out $20m to develop a new chip and QBT trying to figure out what testing would encourage them to do that.

I bought a few more this morning but after what I think was the worst interview yet I'm rather regretting my timing!

“It’s obvious FG cannot give out information at the moment.”

Then why give an interview?

Especially one which was so downbeat. Besides there was new information - just not great with both method A and B improvements seemingly downgraded and C apparently needing a chipmaker to take a $20m gamble.

Actually I thought Method B was the potential holy grail. No more it seems…

I wasn’t suggesting QBT would pay the $20m but it seems the chipmaker has to take a big chance by doing so?

So:

A - now 3% improvement, not 10%

B - north of 10% rather than 160%

C - $20m for a newly designed chip

Or have I misunderstood?

"when this hits 1.68p I will be in profit"

Oops, I think you posted your SCGL post by mistake - silly little doggie indeed.

At least I hope your average isn't 1.68p as that's a serious spike to be caught on. Even on your QBT post though you said your average was 1.15p so still spiked and not in profit as you previously claimed. My average is 0.73p plus already banked profits and you call me (and everybody else) stupid?

I'm not sure who's making them themself look sillier today - you or manic ramper Koigg. Whichever, it's an entertaining watch all the same.

Meanwhile perhaps I am wrong about not needing a placing. The feelgood RNS and the price action today suggests there may be one this week after all even though they ought to have enough money in the bank from the last one - but perhaps they've been spending money much more quickly lately? With that possibility, results due as well and others expecting more big and positive news very soon then one way or another it looks like it's going to be a week for the popcorn!!

"As for you don’t think there will be a deal yet you mention QBT share price being over £1 is contacting yourself."

I presume you meant contradicting myself - and I'm not. You missed out the word IF. You're good at missing words out.

IF there is a deal for Method B and IF it is based on 160% improvement I believe the share price will be over £1

IF there is no deal for Method B (or is a deal based on a far lower improvement) then I believe the sp will go nowhere near £1.

No contradiction just two distinct options and I think the second option will play out, not the first.

So yes I did say it could be over £1 but not on deals (like you misleadingly claimed), just one particular deal, but one which I don't think has a cat in hell's chance of happening.

One of the things that is just not credible for me is why they would carry on developing Method A (or why anybody would be interested in Method A) if Method B was so nearly over the line like you claim and it is 16x better???

And Jambone/Johnny2000/Dooogle etc., you're fooling nobody.

"I have seen Hexam say it will be over a £ here on deals"

Yet again you mislead, you just can't help yourself Jambone. It will not in my view go to over a £ on 'deals' but only IF there is A deal on Method B AND only IF it is on the basis of close to the 160% improvement that they claim. Instead you make it sound like I think it will go to over a £1 on any old deal for any old method. I do not.

Also I don't think there will be any such deal on Method B (or any other method). The latest RNS was good but to me still full of inconsistencies, things that just don't seem credible and jam tomorrow. That's just my view and I may very well be wrong just as you may be wrong in your uber optimism. It's opinion, no more.

Comparing to SWC is also misleading just as it would be if I compared QBT with companies that have crashed and burned in the bitcoin sector.

"As others have said, it's highly likely that they are still funded from the last raise, so low odds of a placing.

Next weeks financial figures should prove this."

Janiax, I don't think there will be a placing soon either but it is unlikely that the upcoming financials will prove that. The results will only cover the financials up to the end of December i.e. before the last placing in January. It is only if they have been spending much more money than they normally do (it's been pretty flat the last couple of years or so) that they will need another raise so quickly (or if they have big development costs coming up). Unless they talk about spend after the last year end we won't know if either of these things are the case.

So like you I think the risk of a raise is low but the financials probably won't give us any extra clues.

“What was supposed to happen at 11?”

Supposedly an intra-day auction of great interest. It never happened (at least not a successfully). Another failed prediction from the self-appointed board guru.

“Useless - be aware of how deep your hole is - stop digging NOW 🤡”

‘Useless’? But his predictions come true a lot more than yours so what does that make you and how big a spade do YOU need?

Do you still think it’s going to stay in the range 1.1-1.5? Hint: take a look at the current sp.

"Inq- you're a day late to the party🤣🤣🤣🤣🤣🤭"

To be fair they turned up yesterday just under a different name before getting banned (began with a 'J' I think - no, not that one)!

“but also think its now going to stay between 1.10 & 1.50 until a further RNS is delivered”

And that’s not even right at time of writing 🤦‍♂️