Member Info for Kooba

Ha ha obviously got you niggled …the fact you moaned at being called Terry when we all know your real name ..Terry it is though as you get posts taken down when guessing your name from Nig was a real stretch.

Writing in the third person …suits the multiple id’s , none of them at all bright.

You are a clown…you get posts removed when your feelings are hurt by words like deluded but you sling out made up words like a f’ing child.

Grow TF up.

Won on substance easy.

You retreat to victimhood…you are not a victim you are just not up to be able to hold up an opinion.

In business, the medium term refers to a strategic planning horizon or financial period typically spanning two to ten years, bridging the gap between immediate, short-term actions and long-term, visionary goals. It is used for goals like expanding facilities, developing new products, or financing through mid-term notes, aiming to balance risk and return.

Cambridge English Dictionary

Terry formed from Terrorwit…using your practise of putting your name in your usernames it is known as humour.

Such as NigWit ..Nig being a shortened version of a forename…however if anyone uses that name you cry and get posts removed confirming that is indeed your name.

Presume your surname starts Wit.

I glad it vexes you that is the intention.

So hence

Terry has never been able to interpret corporate communications from this company and never spots such changes or likely ignores because it suits his ever bullish …if they execute all is great bleeding obvious talk.

If they ever executed over the years we wouldn’t be where we are.

Is the change from an aim of cashflow breakeven 2027 only six months ago to breakeven in the medium term 2-5 years a change…quite clearly it is giving far more latitude to achieving that target and should not be ignored as should the cash runway which without a meaningful boost in income will not extend to that timeframe. Taken together very important in terms of this company having sufficient finance in place. Should not be difficult to comprehend the implications to be fair.

Nov 2025 with finals

“With the increased commercial pipeline, the group is aiming to achieve break-even and financial sustainability in the calendar year 2027.”

Clear aim to deliver break even CY 2027 ..since we have only two progressing JDAs one must assume such ambition comes from increase in orders in scale up phase of Customer 1 and/or customer 2.

April 2026 with interims

“We continue to progress as a research-led production company, with the ambition of becoming cash breakeven in the medium term.”

The change in aim/ambition to medium term from CY 2027 clearly shows that the company is pushing back expectation from 2027 breakeven as the target is now much looser in terms of what to expect. While it’s certainly not impossible that we see a build up of orders later this year into 2027 there is a very clear change in narrative as to when we might ( if all goes well!) achieve financial sustainability.

Define medium term in business

In business, the medium term refers to a strategic timeframe between short-term operations and long-term planning, generally spanning two to five years (sometimes up to ten in specific contexts).

It’s interesting that the company and a number of posters have cited the poor state of the balance sheet as a major reason why getting any commercial traction has been a major issue. Yet faced with a rapidly depleting cash position that only really supports the business for less than 2 years is not seen as relevant…let’s hope Asian customer 1 and maybe 2 are as relaxed when making supply chain decisions on potential mass market products they presumably have invested heavily in ( not so much with Nanoco though to be fair). Guess we know if they are serious in the next few months .

That’s correct..there needs to be visibility as a listed company that you can meet your obligations ideally for 12 months

If they are genuinely on course to move cash flow breakeven and have a significant contract/ licence coming in I guess they will be able to tap shareholders to meet any short term cashflow requirements. But it will need to be a signed deal to get done and therefore hopefully at a level that better reflects that prospect.

sure terry you believe that ****.

Well amerloque..there was the small matter of executing on the strategic review and demonstrating value over the prevailing market valuation with the confident narrative of achieving a disposal of the operations IP and distributing said goodies….not delivered

Then there was the ‘END GAME” of going after Shoei and bringing Apple into the proceedings that got some very excited..economically unviable and got nothing much but a large legal bill.

Then there was the promise of multiple engagements that would lead to new development work or display orders ..that have not materialised yet.

So in terms of why folk are still here but disappointed in the execution and resultant delivery of these value enhancing non events then i guess you might have a better idea if you stepped back and looked.

Talking about them now executing on their all new organic current plan without looking at their previous lack of executional success in delivering stated confident board strategy is quite difficult .

I note you discribe Nanoco as a failing company ( positive input??) in the context of the interim CEO and his career opportunities which I disagree about , i have never found him impressive , funnily enough someone said the same positives about Tenner when he was sent packing…he’s still looking for work i gather.

Not understanding why shareholders are not pleased hanging in here hoping something valuing enhancing is delivered is a concern.

Yes JDAs currently not adding up to that much , the hope is that if one ( or both) get closer to actual incorporation in devices we would see a big build up in revenues in the scale up phase before launch….any mass market device launched should send the company cash flow positive very quickly.

We can but hope.

Is Terrorwit your real name then ??

No that also includes the LG settlement income seen in the first half and a £6m full year contribution from apportionment of Samsung settlement for accounting purposes ( though we have had all the money) . You need strip those two out to get jda revs.

So £7.7m revs reported in first half , £3m Samsung and i guess about £3.5m from LG settlement. So around £1.2m JDA related?

We then have a further £3m Samsung in the second half taking that to £10.7m so the £11.3m figure likely includes only about £600k jda work in the second half so £1.8m total for the year .Though this could obviously increase if Asian customer 2 reloads work programmes.

Who are the two professional brokers you talk of ? They have one broker , Cavendish , as house broker their research is not considered independent as they are paid a retainer to include such coverage.

Edison are not a broker if that is where you were getting confused.

There is no independent research on the company both are paid to sing a pretty tune…a tune we have heard many times before that has resulted in the same dead ends. You just want to hear their kind words and no face the fact the company is in a precarious position.

“A lump sum settlement for infringement in the USA refers to a one-time payment resolving intellectual property (patent, trademark, copyright) disputes, often used in lieu of ongoing royalties or litigation.”

One payment and done…now already spent on the Shoei action.

By the time the company has to look at those options i imagine they will be in a better position to gauge likely commercial demand which could mean the company could call on its shareholders if the prospect of breakeven and growing commercial sales was visible. If not then as you say …

Very clear from commentary that it was the costs being the significant factor in settling litigation not necessarily the case or that a clear path to sensor markets some had waffled about was a thing.. It was a face saving back down and i doubt either party has agreed to not compete in display or sensors evidenced by nanoco who still have some ambitions in display..not holding my breath there though.

We are again reliant on one ..maybe two shots.

Edison mentions strategic interest if the company demonstrates a roadmap to volume production ..

“With an enterprise value of essentially zero, we believe that further milestones demonstrating progress towards volume production could act as a catalyst for upside, either through improved expectations for organic growth or by stimulating strategic interest.”

Seems all has been discounted by the market…already trading at the cash value.

Everything hangs on progressing JDAs to create a sustainable business in a short time frame.

Next few months might or might not give confidence in whether that can be achieved.

Yes, in the UK, research produced by the Edison Group (Edison Investment Research) is frequently categorized as, or functions as, a form of marketing material or investor relations communication.

They pay Edison £60k a year to promote the company putting the companys case in a positive light…it’s useful but does look at negatives.

The cash position is a concern.

£10.4m end April. Even getting burn down to annualised £4.2m by August , as a listed company you need a minimum 6 month reserves and ideally 12 months reserves that would mean the cash runway gets tight within 2 years unless of course there is a decent boost in recvenues.

Breakeven now medium term not defined as CY 2026…definition of medium term in business is not that encouraging.

Edison just released

https://www.edisongroup.com/research/approaching-scale-up-phase-with-asian-partner/BM-3179/

Nb this is viewers as marketing material.

No great surprises at all.

Shoei was getting expensive so Nanoco folded after spending £3.2m

This has left cash position down on even where i thought it might be at just over £10m

Positives talking of Asian customer one scaling up next few months and are still talking to customer number two on next steps.

Also interesting still talking to potential display customers…so we are not avoiding those markets.

No presentation it seems.