Member Info for Kooba

So well over half the volume represents their activity ..which is very aggressive, most buybacks are limited at smaller % of volume often maximum 30% , the idea being they don’t overly influence the price and chase the price up..maybe Nanoco are happy to do that.

On the basis of todays pri

257,812 @ 19.20p…19.2p being the highest print on the order book they are not just operating on the bid but are taking the offer, the 257,812 is bought by the broker in bits and then printed out to Nanoco at the end of the day ..so counts double in the volume figure…same as every day so they have been far larger % of volume.

Maybe , i think though that relative to average daily volume especially with smaller market cap the £100k a day was rather aggressive so best use of money is to buy at the most advantageous price..no need paying more really, so maybe they try to buy some down into any selling?

As to news something could drop at any time i guess but there is nothing regulatory due for quite a while now.

Todays print is already in 261213 shares at 18.95P £49499..makes more sense as half the earlier number ..£50k including costs..the the prints still edging down.

Not sure it will have much effect really..£49k worth rather than £99k worth seems more an appropriate level relative to volume and is less likely to sit as a share support , perhaps evident in the price performance. But think now folks have got their money back from selling at 24P there is likely to be some natural reinvestment sub 20p. I picked a few up at 19p yesterday and will look to buy more on weakness. But not in any hurry.

So a day off and now they have moved to £49k a day it seems..so a change in tack.

Will extend the use of funds but not as aggressive..perhaps leading to the slight weakening.

Seems a more appropriate level against daily volume as they were moving to over 50% total volumes it seemed to me. Maybe happy to buy down after an aggressive start?

A day of no activity is normally related to a day where there is no volume in some cases as most companies on operate up to a percentage of daily volume as is recommended.

There was normal volume of Friday..fair bit higher than recent sessions if you strip out Nanoco activity as they have been a significant part of volume. Most arms length buy backs as it is here operate every trading day on parameters. I’m not aware of many that go hot and cold in this arrangement..though have seen some operated by the company go on and off again depending on whether there is volume.

“The Company has instructed Cavendish to conduct the Share Buyback Programme on its behalf on a broker-managed basis, with trading decisions taken independently of the Company.”

https://polaris.brighterir.com/public/nanoco/news/rns/story/rdlolpx

As spotted no print out on Friday and no disclosure today…so for some reason a no activity day.

Could be delayed reporting ?

Could be they pause having used about £1m?

Could be news pending suspending buyback…but slightly unlikely as they state the buyback is being done “independently” by Cavendish.

Anyway seems a change in normal activity a the moment.

Interesting on industry

https://www.cnet.com/tech/home-entertainment/qled-vs-oled/

What about the future? Beyond its QD-OLED TV, Samsung is researching direct-view quantum dot, which dispenses with the liquid crystal layers and uses quantum dots themselves as the light source.

Think nobody has said the NED appointments are negative in any way as it goes, I have made only very positive comments and they have been discussed extensively..not news really. The existing NEDs on the nomination committee and the headhunters they employed came up trumps and hopefully the new NEDs will assist in delivering strategy and holding the executives to account on behalf of shareholders as is their remit.

This is intriguing though is when you say

“My optimism has been increasing the more I've been digging into the prospects, and I couldn't see some of the stuff I found had been shared on this BB - or certainly it hadn't been shouted about as much as I would have expected”

But then do not post what wonders you have found..you often say after someone posts ..oh I was just looking at that or beat me to it. Are you not now going to share your fresh information?? Odd having held for all those years too that you are now starting to look into the company..happy research, looking forward to some contributions.

Good spot !

On the end bit…However, FactSet analyst consensus is forecasting revenue to reach $10.7mn by 2025 as the operational investment starts to take effect.

That £10.7m Cavendish forecast to July 2025 is £6m allocation for samsung settlement and the ongoing £2.5m from the r&d work. With that £8.5m same as expected in the current year the company are still expecting £3.6 -£4.8m cash burn. In 2025m with the additional £2.2m of revenue for the year forecast they are still expected to burn of £3.5m to year end July 2025.

How do they get cashflow break even in CY2025….Like Cavendish …i have no idea.

Density = sensitivity

On a buy back note there does not appear to be the normal end of day print out in £99k worth of stock though volume was no lower than recent days..so maybe a change of tack. Will see on Monday if they were involved or not i guess.

Much is on trust and Yole predictions of potential sector growth..same as when display was the thang..which didn’t pan out as anyone expected. Company presentations and Cavendish note rely heavily on such industry wide research pieces and it has a place but it does not give any clues on how Nanoco itself plays a part in it any such growth ..repeating that STM went into a joint development agreement with Nanoco because they want to make money from commercial volumes from SWIR sensors does not provide a roadmap as to how Nanoco do.

Since it is open that STM is the development partner and customer and that stm have produced demos and papers on using CQDs in achieving enhanced performance ..its difficult to know what the commercial density clouding any detail is about. I’m sure competitors such as Samsung Sony et al will be more than aware what is in STMs film and in what sensors. It’s hardly top secret…also if as i understand it Nanoco are free to sell Gen 1 materials outside of the STM agreement so you would have thought getting publicity on the efficacy of the wares might have been a rather good thing ??

I certainly have my feet on the ground ..and the five year super cycle developing a new product is due now since they started working on this over 4 years ago ..it would be good if there was some real evidence on stm products of using not even Nanoco materials but CQD or nanomaterials , not just third party guesstimates of potential market expansion ( didn’t prove that useful with qd displays!) or for statements saying STM hasn’t spent money developing products with us for small sales…STM is a very large company and likely has many irons in the fire , its annual r&d spend is $2b . The potential in SWIR sensors is there and apparently our materials will play a part..soonish. Just a tiny bit of evidence would be nice…at least STM has finally allowed little old Nanoco to mention their name even if the one and only order from them is very small…maybe things can get a bit more open shortly.

Can’t actually remember if this was posted but the scientific paper on STM using QDs from Feb 2023 . Unfortunately no credit to whoever supplied the QD’s or clues to the products to market featuring the QD technology. Its odd there is no secret that STM are using QD’s in the SWIR sensor technology ..but then they do not seem to mention it in the spec although it produces very enhanced results.

https://csmantech.org/wp-content/uploads/2023/06/14.1_2023-CS_MANTECH-paper-Feb-2023-V2.pdf

300mm fabs are go.

Good luck with research..there is very little to work with so you likely know as much as anyone else. They have had one very small commercial order from STMicro involving two materials . We have no idea of the end customer or use…or for how much the first order was for cash wise. Marketing the sensors that have the materials in is entirely down to STM we have not been told the product that the materials are in but this seems likely..though does not mention nano materials or QDs in the spec. So we don’t even know the STM product for sure.

https://www.globenewswire.com/news-release/2023/12/07/2792565/0/en/STMicroelectronics-reveals-a-new-global-shutter-image-sensor-that-offers-high-resolution-in-a-compact-form-factor-and-low-power-consumption.html

So there is little to go on apart from the bullish guidance by the company and the cashflow breakeven targets and what that would have to mean in sales..which seems rather ambitious.

Be delighted if anyone can add any further detail but having tried I can’t get beyond totally relying on the company narrative and have no independent sources to collaborate what they say. Unfortunately while accepting decent upside from current levels if they deliver on latest guidance , there has been a habit of moving goalposts so it would be good to have something more concrete to support the latest targets. But as you know I am somewhat sceptical as I judge more on past delivery than future promises.

I thought the timing of the initiation of coverage note from the new broker Cavendish who were appointed Dec last year odd as well as the PR push when in reality there was nothing much new to talk about , I thought their price target very generous as there is so little evidence of traction as yet , though their forecast post tender should be higher still as they obviously see far more value in the organic business than the market. Was it timed to cover backsides, don’t see why , directors were participating so pretty sure they are not working on any information not in the market. Might it have put some shareholders off selling ? Maybe , but sensible to treat shop targets with a pinch of salt .but if it did it enabled those that tendered their whole holding like LOAM to get more away at 24p than they might have I guess. I think there is a concerted effort to push the valuation up ..this seems mostly a vanity exercise as the company has never had 3/4 clear funding in place before and has no need to seek funding at all.

The only thing with the Cavendish note on orders is they forecast £8.4m FY to July 2024…this is against the £8.5m forecast by the company Oct 2023 before the first order so they are not factoring in any additional revenue above and beyond the R&d and Samsung contribution. So if anyone thinks there is nailed on business in the next few months it’s news to them too.

They are now nearly a third through the committed funds and at this rate will be done in another 20 business days at this rate …they just seem in a bit of a rush to get it done when they have authorisation till December.

Do I , what makes you think that..it was just a commenting that with all the massive amounts of share buybacks currently ongoing in the U.K. market I am not aware of another that buys a fixed amount of stock a day irrespective of volume..if you know of one do tell.