RE: Superdialectrics Ltd ...22 May 2019 00:58
The shareholding is that of MX Oil.
As regards the amended accounts to 31/03/2018 (audited 29th March 2019), it is only possible to compare the balance sheets submitted under the micro-entity accounting system for small companies that qualify for exemption.
The differences recorded are as follows (the original accounts first):
Current Assets: £201,741 (2018) £55,681 (2017) .... Audited accounts: £280,991 (2018) £55,681 (2017)
Less Liabilities: £199,541 (2018) £47,433 (2017) .... Audited accounts: £259,892 (2018) £47,433 (2017)
So only a slight discrepancy on the audited accounts for 2018 of around £21k, which is mainly accounted for in the amounts due to creditors within 1 year.
I still maintain that there is no conflict between the Directors to ask for a full audit on this occasion, but it does raise suspicion that they need the full audited accounts when they propose to float on the market, maybe through a currently listed company, in a RTO, which leads me to believe that is the purpose of MXO having a holding, with the likes of Frangos & Co. pulling the strings (he is also a significant shareholder, as is his wife). As we calculated before, we estimated SD is worth around £200m for its IP and R&D findings, they have secured Worldwide Patents for their technology to date. Once floated, the likelihood of JV's with RR Aero, Airbus & Siemens, the prospect of sustainable electric powered aircraft would see a clamour from the Institutions for the stock and probable rerate of the company's worth, coupled with extensive licencing agreements. It could be mega by 2025.
SD's chairman and founder, Dr Donald Highgate will be 79 this year, so I expect he would like to see his discovery come to fruition as soon as possible. Once floated and funded, the technology can be field tested and brought into production within 5 years if fast-tracked.
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