Member Info for Kooba

With what must be only a few hundred grand left to do they seem to have stopped the buyback..again. If they have cancelled the balance..maybe a good idea in the circumstances they should announce as such..though maybe just temporary. Certainly cant argue there is not enough liquidity !

Https://www.whatech.com/og/markets-research/industrial/874235-quantum-dots-market-trends-size-share-growth-forecast-to-2033.html

We still get listed in the runners and riders though we don’t have any of the huge revenues they say are out there and growing fast. Nice to see Samsung and Hansol up there as they probably do enjoy very healthy sales benefitting from the technology.

“For example, Sony Group Corporation's launch of its Quantum Dot OLED (QD-OLED) smart TV, the Bravia XR A95K, demonstrates a significant advancement by combining quantum dots with OLED technology for superior color accuracy and brightness.”

Think they used Samsung panels ..which is nice.

Quite a list isnt it and mostly large companies. Don’t forget Guangdong Poly Optoelectronics Co., Ltd. that would open up the Chinese market for us ..only last year!

“Under this agreement, we will be able to distribute our cadmium-free quantum dot products to the Chinese market, an increasingly valuable global market place, with Nanoco’s materials covering a multitude of potential end user applications.”

Though not sure they have said anything since this agreement

http://www.polyoe.com/#body

“It's just that they can't make announcements based on speculation.”

Really well they speculated there would be more orders for gen 1 products without anything concrete..they speculated that gen 1 orders would in fact grow to annualised £8-9m in 2025 again without any basis to put that figure out for certain. Their guidance is normally all speculating..but hopefully speculating from a risk adjusted viewpoint that only they can take..if they think its not nailed on and clearly the whole project was not then they shouldn’t have speculated on what might happen seems to be your idea…especially when it was to protect their jobs i guess.

There is must speculating on what might occur from companies…hopefully from a basis that they call it right ..Nanoco never seem to though , they are always over optimistic and then disappoint.

Nanonano..they don’t have much to do apart from focusing on the Asian customer work to be frank ..and they were managing to do the r&d work before the settlement from a far lower cost base and it appears that 2/3 of the work was around STM from revenues. They should be able to hopefully accelerate work ( fab?) rather than see delays even if the move the cost base back to pre settlement levels i would have thought.

Well that was all he was good at in my opinion anyway after the Apple debacle where they had boosted cost ahead of that commercial success….so cutting the costs that he has now overseen build up is probably in his skill set . I would like him out the building asap if he is not functioning as a CEO and leading communication to the shareholders …if he wont stand up to them why should the company be paying him? I think if they can find a suitable CEO who wants to take this on ..that the Chair needs to follow very swiftly , many F ups have been on their watch including approving the cost base build up twice and then what will be a wholesale load of redundancies twice..the staff are as impacted by this poor planning as the shareholders.

2G2D did very much say that he thought that was the end of GEN 1 and I believe the end of STM that justified his call …i did not agree at the time as i had had a long talk with the company after the July year end and was convinced unfortunately that that was not the case at all and that there were multiple ongoing gen 1 trials and that it was only that the first customer for those materials had decided not to proceed that there had not been any ongoing orders. Unfortunately with hindsight even if they were being very genuine at the time it has proved to be on top of their other communications extremely poor at judging the situation and relaying confidence in the continued ability to meet its strategic aims. Another reason to be further miffed that even a few weeks ago they had apparently not sniffed that anything was wrong and exuded confidence.

So hence my belief that Gen 1 was not dead which i previously thought was the case from their statement…using the words better understand..which meant to me at the time more serious.

If similar messaging was given to other holders and even the remaining institutional ones i am not surprised that they are running for the hills as it makes the company look even more that they haven’t got a clue what was going on…as it goes they probably didn’t but should have at least got some clarity before continuing with the its just a delay BS.

Wholesale change at the top honest business plan following a strategic review with best outcomes for shareholders front and centre. But first they need to get a grip on costs ,,realise that there are no nailed on revenue streams apart from £800k a year for the Asian customer work and rightsize the business as a small startup again…which is what they are. They need to extend the cash runway to a minimum of 3 years to offer the Asian work the chance of getting to commercial demand. Also by reducing the burn significantly they may make the company as a whole more attractive to a buyer…it maybe though for other reasons that any interest focuses on buy the IP and not the corporate entity.

I am not mocking anyone who made reasonable arguments and got it wrong but i will not take lectures in whether risk warnings were ignored by those who actually chose to ignore the risks and encouraged others to.

Whether there is a way out of the current predicament that might give the company and staff a future is more my immediate concern though. Being in denial like Terry and still trying to put down reasonable debate on what needs to happen here though is extremely dull and promotes continued infighting. The guy is a idiot and a pest.

Extraordinary NGR that we were discussing the risks of them not delivering on gen 1 quite often we were highlighting the risks and we got shouted down by you and others that we should just focus on the guidance and not question it…now you tell us that we should have heeded the risks..one of those couldnt make it up moments!

There is likely precious little left of the £3m committed now anyway ..but i haven't done the numbers recently ..but there was certainly enough volume yesterday to participate…if they had wanted to.

Terry

“I bet Kooba's a prepper who lives in a half-buried tin shed lined with old copies of the Daily Express, which he reads whilst eating cold baked beans and drinking Lucozade Zero. Imagine the stench.”

I thought you could not get more pathetic as it was such a high bar…but there you go getting new PB…

When you have been proved to be an ignorant fantasist and have got everything very wrong i suppose all you are left with is nasty little school boy insults. Always your level..in the gutter.

“Terrorwit is not my mate Kooba. He is/was simply on the same side of the argument against it seemed everyone else. Both of us were supportive of the board and it's strategy and had ST delivered as the company clearly expected, I was confident in my position.”

Supporting the board one thing berating other posters who questioned the companys ability to deliver on the guidance and questioned the whole commitment that STM had to a project where there was no evidence but for Nanoco’s very confident announcements and forecasts that there was any product nearing commercial roll out by STM is another.

There were many accusations of mental health issues for daring to think that the company was being over optimistic and that they would not get anywhere in meeting official guidance to cashflow break even 2025 was uncalled for and perhaps it is the unwavering support of a management that has serially disappointed that should be analysed in the cold light of day.

‘forgot to point out that all those who've been claiming loam were inside need a long think after yesterday when they took a loss.”

what horse****…they tried to sell their whole holding in the tender they promoted..having already sold down aggressively ever since the 37p fundraise and the fold where they did react completely differently to everyone else in the market.

it shows nothing about past activity.

i imagine since they have sold down aggressively and tenner pushed that the relationship has somewhat changed . they were no longer the largest holder that supported the board last year ..they were exiting as fast as they could over the past 2 years.

fridays events and them again aggressively selling their stake down below declarable shows nothing but they have lost all faith in the company being worth more than current levels any time soon.

Ngr

“There could be some tactics from the OEM as well in relation to price. I doubt SWIR is dead but it's clearly a major issue that could result in the demise of Nanoco as a limited company unless they take immediate action themselves to reduce costs by at least half.”

You do realise that your mate Terry thinks that cutting costs is moronic and that you should double down and spend all the money in a blaze of speculative glory just like Spock did by using all the fuel in an episode of Star Trek…yes he has extensive business experience ..honest.

The level of cash burn even surprised me when i worked it through ..though has been confirmed by Edison ..best part of £7m a year..i note they are also only factoring £800k a year from the Asian customer against previous £2.5m from the two r&d customers so STM were significantly larger. With 20 months cash runway urgent action on costs or a trade sale before the AGM is essential otherwise they will be having to raise money just to keep the lights on before the end of 2025.

As to not Nanocos fault this project is pulled..fair enough, i never said it was in any way either.

But their reading of the situation and the massive build up in costs is..trailing soon after Apple its just very poor management that has once again left the company in a dire position…but now we have no one to sue to refinance the business…and i doubt the market will

We don’t really know why after over 5 years being involved with Apple then European customer ..oh it’s STM dedicated to using nano materials to make SWIR sensors with great QE and cheap prices that they just dropped all work with Nanoco and QF unless there was another route to next generation SWIR sensors ..why the change in tack remains unclear ..but if there is another route then that might not bode well for our other sensor work. Can’t see it’s just a cost cutting measure to close this down. ..after all they were spending less than £2m a year with Nanoco ..

STMicroelectronics research and development expenses for the twelve months ending June 30, 2024 were $2.103B, a 5.41% increase year-over-year.

BT said the Asian customer ..a chemical company supplies Sony ..don’t think ever implied it is Sony. So again we are engaged with a party one step away from end customer who makes sensors and even further away from end user customers for the sensors as far as I can tell.

Ultimately we have no control over the markets we want to get commercial traction in..it’s an odd model and it isn’t working.

The problem is in two years time the cash is exhausted on current run rate and if the Asian customer walks we have no cash and we are starting to run into the end of some key patents. The issue is the development time involved..the company can’t just start again with someone new for another 2 plus years..

Display and MicroLED might be a saving grace but no signs of anything moving there…if we did get an order for display CFQDs we could be in business quite quickly ..but what are the chances? A microLED partner might provide some development partnership revenues but would likely be smallish and could again take years to a commercial product,. Being an academic bench tester for big companies has not proved to be a great business model!!

The nativity of relying on a single customer becomes even more binary with no guarantees of end commercial orders with just the Asian customer

Meanwhile I think keeping an eye on what our dear friends at Samsung are up to in sensors might be interesting…whilst I understood the licence to our IP extended to displays I find it difficult to see that in print.

The company has to be clear on the strategy very soon…try to get something back for shareholders through trade sale. Or have one last spin of the dice with the Asian customer and hope they don’t walk like everyone else has.

Not a great choice and quite possible no one wants to buy with the current burn rate ..the advantage of a trade sale now though might be they secure talent in the sector as well as IP…but would need to move fast as I guess staff at Nanoco are well aware the business is not sustainable with current cost base.

Ngr whilst getting any sustainable business from the Asian customer who apparently are a big supplier to Sony ( source Tenner) the position of Sony in the Apple supply chain is changing I’m afraid. Guess who!?

https://appleinsider.com/articles/24/07/02/apple-turns-to-samsung-for-new-iphone-16-camera-sensors

I agree that they made some promises to save their skins that have all unfolded whether they got over optimistic and then had to stick to their narrative for too long hoping that something would turn up is another matter…though some rowing back on distribution and timelines was seen shortly after they were supported.I think TH did get them worried and probably they still are as the case in which the senior management are entwined is yet to be heard as Loam cannot get it dismissed. TH was probably too ambitious thinking that shareholders would back a wholesale change of guard and the company put up a very expensive and strident defence to protect their jobs…sorry meant protect shareholder value that was threatened if they weren’t running the company as only they could deliver the huge commercial traction they had been working on with their good friends STM…I see.

I don’t think the cash runway (20 months according to Edison) would take them to any meaningful Asian customer revenues..the Asian customer also in very strong position now..if they do want any commercial arrangement.Nanoco could cut costs back to pre settlement levels but still they had STM and Asian customer then ..but they were only burning £100k a month from memory. There are the small scale independent sales they talk of ..peanuts and the ongoing big display customer …that hasn’t manifested yet as guided previously ..so there could be some mitigating increases in revenue but it would need to be a few £M to make much difference now.

One thing is certain they cant raise any money..there long term institutional backer is exiting what’s left of their holding.

Favour a sale