Member Info for Hydro-Jen

It's a punt on the cracker - simple as that.

The 'guestlist' is no more impressive now than it was three years ago when Kier, Keltbray Mace, Balfour Beatty, Vinci and others were lining up for trials - yet here we are with zero sales. That was for the standalone fuel cells which are clearly a dead duck in the form they were then so we are now left with an as yet uncommercial technology which clearly holds great promise but no guarantees.

It's a punt and those who say different are rampers/fools.

It is indeed an easy mistake to make - which makes it all the odder when people who claim to be experts shout down those who explain it!

So all the new shares from the bookbuild and the retail offer have been admitted to listing but, surprise surprise, no concomitant reduction in the position.

Looks like, once again, the rational element has a point and, despite the usual obnoxious shouting down from Haggis etc., the %age reduction reported last month was just due to dilution from the fund raise.

It's obvious what happened here isn't it? I'd be very surprised if there isn't a clause in the contract of the executive directors that guarantees option issuance in the event of capital raise to guard against dilution.

What I'd really like to know is who was it that decided that of all the relevant questions that could have been asked that could have given us some sort of insight into the business that one accusatory one was the best option.

Well, they're hardly likely to base incentives for today's management on what the price was five years ago

No, nobody has ever had a problem filing stuff with Cos House - that's the problem. For a very long time anybody has been able to file anything with no checks being performed at all.

It's why there are tens of thousands of companies set up on there that can have no possible purpose other than to be fraudulent. And if you don't believe ne try following Risk Alert/Graham Barrow on LinkedIn. Absolutely horrifying. The changes starting to come through now are so overdue that I'm not at all confident that the swamp can be drained.

Well, Hornet, I was in via a different route - this one

https://find-and-update.company-information.service.gov.uk/officers/fhOnX6jURc-3AXbIQqpyfPoYIqE/appointments

Which just goes to prove what an unmitgated crock of sheeite Companies House is. An absolute national disgrace.

According to Cos House he isn't even a director of AFC!

https://find-and-update.company-information.service.gov.uk/officers/fhOnX6jURc-3AXbIQqpyfPoYIqE/appointments

Then again, as a matter of record, Companies Hose is a completely unreliable shambles. And a dangerous one at that as you can put (or not put) absolutely anything you like on there.

He (and Karl Bostock) resigned from the Regatta boards last October

Indeed Soag. At this stage there is only one type of news I'm interested in - cold hard facts about commercial sales and associated revenue.

This would be the same Dr Mike who said the crackers were on the shelf and ready to go (or words to that effect) in the IM presentation he did with the completely ineffectual Bullard. He had clearly been inBondrinated.

Just filter him, Daz. One would imagine that even he will get fed up arguing with thin air sooner or later.

That, Red Hornet, is absolutely hilarious. Get yourself on an open mic slot, you'll clean up.

These brokers are actually paid for this drivel. Nothing that anyone paying the remotest attention could possibly learn from that.

Yep, no such statement has ever been followed by a change of tack...

No current intention doesn't mean never

Just filter him, like I have. He's a complete irrelevance.

It is a matter of record that JW preferred to work in the unlisted sector and I suspect that it is a matter of time until he gest his preferred conditions at AFC but that won't be affected by me giving Peel Hunt a hard time.

As he is now quite significantly invested I'm sure he'll want that to happen at a good price as and when.

He seems a stronger character than that!

Peel Hunt should be held to account - end of. That said, I have no confidence that they will be - but hat doesn't mean they shouldn't be given a hard time.

As I said, dilution is a constant risk on AIM where shareholder pre-emption rights don't apply as they do on the main market. That is accepted. Being misled? Less so.

FOLLOW UP

While I don't necessarily expect any action I remain bitterly disappointed at how I believe shareholders were misled by previous management. I assume that Peel Hunt were also misled, otherwise how could your firm have come up with the ludicrous target prices that have never borne the slightest relation to reality.

I read regular articles from senior Peel Hunt staff bemoaning the state of the UK smallcap and AIM markets. - but perhaps some navel gazing is in order. Investors would be mad to consider looking at smallcaps when this sort of thing goes on so often, and their investment is destroyed. Risk capital is one thing, providing risk capital on false information is quite another.

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