Member Info for Kooba

Could this unlock a deal for the operations as some have speculated ?

Certainly the business should be worth more with this agreement now in place than without.

But its still relatively modest income relative to the cost base even with an inflation linked increase in terms…which really should have been specified better.

Hurrah…some clarity though commercial revenues are still well in the distance it seems.

To be fair the STM JDA ran past the agreed work programme by a few months i believe ( which resulted in missed rev for some months) before committing again to the next gen work. Unfortunately that did not prevent them from pulling the rug less than a year later.

Nanoco told us the existing agreement with Asian customer 1 finished in October and said they were hoping to agree next stage with the 1st Asian customer before it ended. So they have seemingly not managed to get that agreement in place ..yet. It does not necessarily mean that all bets are off but they have had a big run up to this agreement ending and from a number of viewpoints it is disappointing that there is not clarity on the future of this project as it was by far the nearest term opportunity to get sight of meaningful commercial revenues.

But clarity is lacking across the board…sale, revs from gen 1 , further JDAs in existing and new fields…the only certainty is that they are chugging through the cash at £500k a month.

Financial year end cash at £14m has already dwindled by over £1m.

If no extension of Asian customer work then that cash burn increases.

Markets hate uncertainty…and there is much uncertainty here.

“Sending your foundational technologist to a key industry stage during a sales process is a clear signal to the market and potential acquirers: the IP is alive”

The fact he has resigned from the board and all subsidiaries and is working out his notice to February and that the commitment to attend such a conference was made many many months ago is best ignored. It’s clearly a major positive..lmao.

It is of course possible to read positives where there are none as well as negatives.

At least in a few weeks we should know where we are.

“.. with discussions ongoing regarding an extension to the JDA with one of our Asian Chemical customers before the expiry of the existing contract, which is due to complete in October 2025;”

I guess we must presume that this is all done and dusted because they haven’t said anything to the contrary and the commercial sensitivity means they just don’t have to announce it ? Lols

19/08/25

“We continue to make good progress on existing Joint Development Agreements ("JDAs"), with discussions ongoing regarding an extension to the JDA with one of our Asian Chemical customers before the expiry of the existing contract, which is due to complete in October 2025;”

Before or after maybe?

I’m sure because they have not said anything it must be all good and they are sitting on the price sensitive extension news because they can just do that apparently if it suits them. Commercial confidentiality and all that.

Interesting but as always cloudy anround Apple products …difficult to ascertain their actual use and who might be supplying. Difficult to think Nanoco are involved in any direct way . Highly likely if Apple are using QDs in consumer products that they are anything but cadmium free.

Whoever is supplying will have been in years of development work you would have to think and is ready to produce in some scale.

My meaning was if there was one or more “finalists” following the IOIs were received and was referring to a single or multi-party negotiation that includes an exclusivity period, where a lead negotiator gets a specific, agreed-upon timeframe to negotiate with all involved parties selected without interference from third parties. This is a tactic to streamline a complex negotiation process. As they guided they would be doing.

As it goes we don’t know whether any IOIs meeting acceptable criteria were ever received , by end of June…or even now.

It is easy to presume that the process is progressing as planned because they have not altered earlier guidance….it is also easy to presume the lack of any update and confirmation that the process is progressing and nearing a conclusion means that such progress has not been made.

It would appear judging by the share price that more folks think the latter but maybe they are wrong …the company has not given sufficient update to know for sure where things are and when there will be an outcome.

As for delaying disclosure to avoid it leaking, that's simply not the case.

“If there is a risk of a price-sensitive leak, an immediate public announcement must be made to prevent unfair advantages and comply with market regulations. If an announcement is delayed to protect legitimate interests, the company must be able to ensure confidentiality and must make a public announcement as soon as possible. The announcement should be a meaningful holding announcement that reflects the information known at that time. “

“As for delaying disclosure to avoid it leaking, that's simply not the case. And what would you want any disclosure to say? “

Easy..the sales process is progressing well and we have narrowed to a list of “finalists” which we will now enter exclusive negotiations with and hope to announce a transaction that should complete before the year end as guided.

At this stage there is no certainty that these talks will result in an offer for the company’s operations and IP . We look forward to updating the market with the final results if not before.

As Toyah said ..it’s a mystery

There will have to be some clarity with the finals…when they finally manage to get them out next month.

One can hope all the quiet , poor share price and that watered down trading update comment on sale process is just selling the market a dummy before a blockbuster sale ….if only.

If as they say there was a formal sales process and they gave firm timelines to meeting the objective then they should advise if there is any change. With MAR if they they were in advanced talks around an acceptable offer and there was a risk it could leak into the market which there always is in these situations especially if there is an extended period of negotiation …which there must be according to some folks take …then they must announce. The delay to announcing price sensitive information for fear it could jeopardise a transaction has very short time limits.

Oops IOIs in by end Q2…advanced DD and terms agreed with finalist during Q3 completion by calendar year end.

Then in August

“We continue to assess strategic options for the Group's operating business with a number of interested parties.”

That is not demonstrating any confidence and is not an acceptable update having said there was a formal process and given time lines…folks I understand want to make up excuses and maybes but wake up and smell the coffee.

As always hope I’m wrong but managing one’s expectations with this company it’s best to err to the side of caution and doubt everything…

That is not true is it …they may be stalling hoping there is still a chance of an acceptable offer being made after an indication of interest from one or more parties . But if an acceptable offer had been made they would have to inform the market. Unless of course they have abandoned keeping the market informed of price sensitive information. The fact they have not confirmed in any way that the formal process they told us was being undertaken has advanced to a narrow field of “finalists” following the set end Q3 IOI period is telling.

Once again the share price does not tell you that an acceptable offer whatever that is deemed to be by the board , but let’s assume it has to be significantly more that the valuation at the starting point of this strategic exercise , perhaps at least at a level they told us the IP was worth last year…but significantly more than the price at the start point , when we are now sitting at a discount a year later having further underperformed the market.

If things were hot and advanced DD was being undertaken folks at the company’s operations would know ..lots of advisors would know …the share price would be telling you…it’s not.

Anticipating a lots of interest but no offers they felt acceptable as undervalued the business…problem is the board seem to be the very few that see this diminishing deep value and always have been. Hope I’m wrong.

My understanding is that the gen 1 lead based technology is not protected by the patents anything like cad free materials.

So more of a commodity area where others are already present.

The area and scale of this work and grant do not appear to be at all relevant in valuing the company and tiny financial impact.

It is 6 months since the second Asian JDA was announced and that revenue we were told would cover the LG litigation in the near term ( not sure if that still stands) also announced 6 months ago. Since then this is the only revenue related news and its pretty meaningless…we were pointed to further JDAs before the end of this calendar year ..news of Asian customer 1 next move as that agreement ends this month…and of course the outcome of the CDX process culminating in a highly confident sale before calendar end. Must be a very busy end to the year coming up to meet expectation because nothing seems to be landing as was guided by the company.

This is the lead first gen type not even for cad free ? Thought Quantum science around the corner have been here long before.

So the company gets £70000 in over a 6 month period ..and we are burning £500k a month…not touching the sides.

As someone said though…it’s proof of life and proof CDX are still advisors.

You are a total twerp Terry always will be…you can’t help it because you have no self awareness.

The reason for Terry is you reported me and others for working out your name from the rather simplistic NigWit …which of course was a previous busted ID.

You just aren’t up to it with or without AI still thick as mince.

The problem with it only takes one bidder to value it high…is that if they know they are the only bidder then why?

I still think that if there was that one keen bidder they would have moved quickly to secure the “prize” and they clearly haven’t.

So whilst one must presume that some talks of some kind are ongoing it would appear nothing acceptable can proceed to an agreement or even exclusivity at this time after 9 months of engagement and access to a data room for over 6 months.

Guess we find out with the results if not before.

There has been a small amount of interesting buying and a small uptick so keeping a close eye if that builds. Picked a small amount back up just below 10p of ones sold on the french puff.

Fingers crossed they manage to pull something out of the bag.

Amazing post from our Terry …an interpretation of an opinion trying to be analysed by someone who hasn’t got a brain cell and relies entirely on AI to try to make some point and still end up looking a complete twat and proving they cant grasp facts at all. They rely on wishful thinking and no interpretation of events…that is why they have been wrong on every take on this share for years.

1 year since the Outcome of strategic review ….”this process will be undertaken at pace” ..good to know.

From mid August trading update

“We continue to make good progress on existing Joint Development Agreements ("JDAs"), with discussions ongoing regarding an extension to the JDA with one of our Asian Chemical customers before the expiry of the existing contract, which is due to complete in October 2025;”

Great if they move to the next phase..not so much if they don’t!

Then there is always

“Discussions are ongoing in relation to potential further JDAs with a number of other companies, some of which are outside of historical Nanoco markets;”

But really the outcome of the CDX process at some point in time is the only real inflection point that might really move the valuation…one way or the other. Starting to discount a negative outcome ..might not be the case?