Member Info for Lindon

... this report is of course a profit warning... and of course the market as seen it like that. But it represents a tremendous buying opportunity!

fazliddin424... yes, looking good, half term results due out this week and expectations are high. Also there appears to be no value attributed to CDS as yet... as long as that side of the company hasn't got any bad news to report and it can keep going... the sp could well start to test some higher levels.

.... IF were gonna get one this year, unfortunately it's no longer mandatory to issue one.. but last years was out 14/8.

Solid results for the core businesses. No disappointing surprises makes a nice change and pretty much steady has she goes... and printed electronics has joined FLT in the history books. It seems the market and the sp has been reflecting events quite adequately. It looks like embedded TS solutions WERE the death knell for XSense and it's good to see them finally admit it... IMO it also shows that UNXL are wasting there time! "During the period of our strategic review we also observed further changes in the touch customer base with an increasing tendency for display manufacturers to integrate the touch sensor themselves rather than it being assembled separately by touch module manufacturers. This trend has resulted in a move away from secondary materials such as those that CIT had developed and a simplification of the touch sensor onto existing layers, such as the cover glass, in order to reduce cost. This trend further underpinned our decision to exit the business". "Whilst the touch sensor business had been our prime area of focus, we had also been evaluating a range of applications in the wider printed electronics market. Although we were always conscious that global take-up of printed electronic materials was relatively slow, the sharing of manufacturing resources with the under-utilised touch business had previously demonstrated a viable business model. With the decision to exit the touch business made, the economic case for continuing our investment in printed electronics was undermined and the business would have required a minimum of two to three years' financial support. On this basis, we determined that the Printed Electronics arm of CIT was not viable within Carclo".

I think the market reacted to the debacle some time ago although the downside will now be officially recognised in the accounts of course. More important now the dust has settled is what the final outcomes of the SR is going to have for the rest of the cit division, i.e. printed electronics, PCB's and the existing partnerships in the photovoltaics field. Hopefully LED is still going well and also that there have been no hicups with the CDS devices they are developing... or the medical trials.

As of March 31, 2015, Uni-Pixel had accumulated a total deficit of $117.9 million from operations in pursuit of these objectives. Since our inception, we have been primarily engaged in developing our initial product technologies, recruiting personnel, commencing our operations and obtaining sufficient capital to meet our working capital needs. In the course of our development activities, we have sustained losses through March 31, 2015. We will finance our operations primarily through our existing cash and possible future financing transactions. As of March 31, 2015, we had cash and cash equivalents of $20.7 million. We expect the proceeds from the sale of our Senior Secured Convertible Promissory Notes, together with our cash on hand, to support our operations through December 31, 2015. However, our long-term viability is dependent upon our ability to successfully operate our business, develop our manufacturing process, develop our products, establish the business relationships we need to manufacture and market our products, and raise additional capital through offerings of our debt and equity securities to meet our business objectives. The Company is subject to a number of risks, including the financial performance of its current products; the potential need for additional financings; its ability to successfully commercialize its product candidates; the uncertainty of the Company’s research and development efforts resulting in future successful commercial products; significant competition from larger organizations; reliance on the proprietary technology of others; dependence on key personnel; uncertain patent protection; dependence on corporate partners and collaborators; as well as other changes in the electronics market industry. Because Displays intends to transfer the coated film manufacturing process to the facility in Colorado Springs, Colorado within 100 days of the Effective Date, CIT has agreed to provide reasonable assistance to (i) train the Displays’ staff at its facilities in Cambridge, England in the operation of the coating line and the manufacture of ink, (ii) make CIT personnel available to travel to the facility in Colorado Springs, Colorado to train Displays’ personnel in the operation of the coating line, (iii) advise Displays on the procurement of inks, chemicals and equipment necessary to manufacture the coated film and (iv) provide Displays with information regarding the chemicals, materials and consumable items needed for the manufacturing process. Any reasonable costs and expenses incurred by CIT in relation to these requirements will be reimbursed to CIT by Displays. Hope CAR get reimbursed before 31/12/15!!!

This report from Motly Fool was published today.... it probably accounts for today's rise before the bell by adding a bit more interest in conjunction with the IC report. Carclo seems to be the flavour of the moment in the media tipping stakes at the moment! Noticed they refer to UniPixel as an "electrical giant"!!! That'll be the day! Carclo. Price of technical plastics company Carclo (LSE: CAR) has risen 75% since the start of 2014, and just this week struck its highest in more than a year, at 164p per share. Carclo has seen demand jump across all of its divisions in recent months, while April’s announcement that it had licensed its CIT Technology division’s fine line technology to electrical giant UniPixel boosted investor sentiment still further. Despite this recent price strength, however, I believe that Carclo still provides very decent bang for one’s buck. The business is expected to follow a 20% earnings improvement for the year ending March 2015 with an additional 42% rise in the current year, creating a head-turning P/E ratio of 13.8 times. And this number slips to 12 times in fiscal 2017 amid expectations of an extra 17% bottom-line boost. These solid growth prospects are anticipated to keep Carclo’s progressive dividend policy firmly on track. An estimated 2.7p per share payout for last year is expected to edge to 3p in fiscal 2016, producing a handy yield of 2%. And a projected 3.1p reward next year pushes the yield to 2.1%.

... a very good break out from its recent trading range! Let's hope it can consolidate now, if it does it should then build on this after the expected excellent results and forward guidance.

....... One thing that the City has yet to factor in to its forecasts is the potential of Carclo's up-and-coming disposable devices Diagnostic Solutions division. As well as its attempts to develop existing devices, Carclo is working on adding new programmes, such as tools to diagnose bacterial infections, cardiac problems and certain cancers. While the venture has significant potential, it's still early days and assigning much in the way of value or hope to this division currently looks premature. However, broker N+1 Singer reckons commercial partners could come on board soon, which would justify more value being ascribed to the company.

(CAR) looks like it could be coming back into form. Strong trading at its core divisions and April's exit from its misfiring touch sensor venture, Conductive Inkjet Technology (CIT), suggests bright prospects for the plastic moulding and LED lighting specialist. With the ill-fated CIT story now finally behind it - the technology has been out-licensed on a multiyear agreement to UniPixel in a deal that should fund debt reduction and closure costs - we think the momentum recently established by Carclo's shares is set to continue. Following a period of substantial investment, the company's remaining businesses are experiencing strong demand and profitability is rising as sales take off. The progress should revitalise tarnished City sentiment and could possibly even produce increased investor interest in Carlco's exciting new healthcare venture. Meanwhile, free cash flow should benefit this year from profit growth and an expected £6m fall in capital expenditure to £5m. Management expects 10 per cent sales growth per year and margins look set to rise quickly from the 7.6 per cent achieved last year towards the group's 10 per cent target” Technical Plastics, which manufactures fine tolerance moulded plastic components and accounted for more than half the group's ongoing underlying profits in 2014, certainly looks poised for substantial growth in coming years. The lion's share of this unit is focused on providing products for cleanroom facilities and diagnostic devices in medical markets, where demand to limit the contamination of products and improve diagnosis is growing rapidly throughout the world. Carclo is well-placed to profit from these trends having spent the last three years investing £15m to significantly expand capacity and capability in places such as China, the Czech Republic and the US. Management expects 10 per cent sales growth per year and margins look set to rise quickly from the 7.6 per cent achieved last year towards the group's 10 per cent target. Profitability is benefiting from increased capacity utilisation, which now stands at about 70 per cent, and a reorganisation of Carclo's facilities, which involved the closure of a Scottish site in Harthill. The focus on the medical market is also allowing the group to sell more higher-margin products, further benefiting the profitability drive. Carclo's other major division makes LEDs for top-of-the-range sports cars. Orders are piling up as supercars undergo something of a sales renaissance. Prospects have also been boosted by the group's efforts to develop full LED front light technology to complement its rear light offerings. The order book is bulging and management is confident of achieving double-digit sales growth for some years to come.

It's been a sea of red from the get go. It happens. IMO just a continuation of MM's doing what MM's do.... making a market and shaking trees so they can make money out of the trades. They'll probably keep it trundling along between approx 134 and 145 till nearer results time in June.

UNXL have now announced a new share issue to raise a further $75m... which over doubles the already 12m outstanding shares in issue. They raised $15m convertable bonds with warrants a couple of weeks ago and issued a S3 registration yesterday allowing them to convert. Their shareholders have just had their values cut below half but it this latest should keep the XSense story bumbling along and the UNXL BOD in clover for another year or so! As filed with the Securities and Exchange Commission on April 28, 2015 (1) With respect to the primary offering, the securities are being registered as an indeterminate number which shall have an aggregate offering price not to exceed $75,000,000. In addition, up to 4,885,625 shares of common stock may be sold from time to time pursuant to this Registration Statement by the selling stockholders named herein. This Registration Statement shall also cover any additional securities to be offered or issued resulting from share splits, share dividends, recapitalizations or similar transactions. (2) With respect to the primary offering, the proposed maximum aggregate offering price has been estimated for the sole purpose of computing the registration fee pursuant to Rule 457(o) promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The proposed maximum offering price per unit and the proposed maximum aggregate offering price for the offering made by the selling stockholders have been estimated pursuant to Rule 457(c) promulgated under the Securities Act, solely for the purpose of calculating the registration fee.

Hi gocarclo.... referring to the 'potential' or XSense in UNXL's hands you said "what's not to like". You were absolutely right, all I'm saying is treat with a pinch of salt! The Barrons article is a classic piece of 'pump' which has given a small renewed impetus to the sp. There is no chance IMO that there are suddenly another 5-10 OEM's waiting in the wings as a result of UNXL producing XSense rather than Atmel and nor would HP suddenly prefer it and place a re-order... and even if there was... Barrons certainly wouldn't know about it! UNXL went from cash in the bank of around $350m to around $25m in conning their investors over the last 7 years, they have NEVER produced a thing... by their own admission in their last earnings call they said they only had sufficient left to see this year out., but it wasn't a problem because they would be commercially shipping their own product to a signed up OEM... THIS quarter! The OEMreferred to has denied all knowledge of it and further stated that they have no plans to even produce a device of the size UNXL stated! Now UNXL have spent over 50% of what little they had left buying a provably failed product. They are already under investigation by SEC and have also agreed to settle a litigation case brought against them by their own investors, rather than try to defend their own statements and actions in court... I fully expect them to be filing for bankruptcy by early next year at the latest. If I'm wrong and XSense suddenly takes off I would be the first to be highly delighted. Unfortunately it ain't gonna happen!

Comments extracted from an unbiased white paper produced by Synaptics. Engineering, manufacturing, and especially ongoing support all benefit from the streamlined supply chain that affords “one-stop-shopping” with a single supplier who is responsible for the entire touchscreen display panel subassembly—edge-to-edge and top-to-bottom. By having a single supplier fully responsible for both the touch and display functions, troubleshooting efforts are also streamlined, leading to faster resolution. Device Design Advantages The elegance and simplicity of integrating both the touch and display functions in both the display glass and the IC results in a sleeker, more functional device. With Full In-Cell displays, the panel is thinner compared to discrete (seperate GF sensor stack) designs. The display also has narrower borders because there is no need for external routing on the sides or top of the display panel. Thinner panels result in thinner form factors or provide more space for other features, such as additional memory or battery capacity, while the narrower borders support the narrow bezels needed to produce full size, edge to edge displays.

Atmel were earning approx $5m per quarter from HP and that earning capacity has been transferred to UNXL by virtue of the fact that UNXL have taken over that HP contract which expires in October and that is what Carclo are supplying the film for. That is what that "reiteration" of $10m for this year and shipping to one customer refers too. It's not new and Carclo will not receive any revenue... they have agreed to ship at cost and return ANY profit if it turns out they make any... but we already know that producing the film is loss making. There is carnage going on amongst the other Sensor Module makers due to the Display Panel makers taking over with their embedded sensor solutions. O-Film who were the major metal mesh competitor to Carclo have recently announced they are shedding 10,000 employees because they can't compete with free sensors. It's also no longer just about cost. Embedded sensors also enable even thinner, lighter and brighter screens. There is simply no motivation for the OEM's to ship to a seperate module maker to fit a GF sensor stack, built and laminated with all the attendant adhesive, gaskets and air gap sandwiched between the dispaly glass and the top cover glass. The device makers are now fusing those two pieces of glass together. UNXL closed last night at just over $2

gocarclo... it's a scam! A clause in the agreement states that CAR will return any profit, IF they make any, from the sale of film to UNXL. XSense is a glass film (GF) sensor solution... such has been the rapid change in the last 12 months that GF solutions have been made redundant. Sensor are now pre-wired by the LCD/LED Display Panel makers inside the display panel. This has cut the Sensor Module makers completely out of the supply chain... let alone a separate sensor only maker! The Display Panel makers have turned themselves into a 'One Stop Shop' and can effectively supply the sensor free of charge. Embedded solutions are now becoming the norm for all mainstream OEM's and is the reason Atmel/Carclo bailed out. The costs to the OEM's have been reduced by around 62% Manufacturing costs are minimized based on a combination of fewer components and a more efficient supply chain. There is one less flex panel connector with Full In-Cell integration, and one less IC. The display panels ship from the display panel manufacturer with fully integrated touch capabilities, virtually eliminating yield loss from a separate sensor lamination process. With fewer components and suppliers, there are fewer assembly steps and problems, and the devices spend less time in the work-in-process.

Hi gocarclo... yes, the upfront $4.5m (dollars not pounds) is termed as an advanced non- refundable royalty payment, paid into CAR's nominated bank account at the close of business of the agreement commence date... 16/04/15. It's banked! The REALITY of it is of course is that it's a payment for the licence. This is separate from the payments as outlined in the agreement for the supply per linear metre of coated film totalling 299,000 metres with a stop date of 31/10/15 As Carclo have agreed to train UNXL staff on how to eventually produce the ink and coated film for themselves (fully funded by UNXL)... and as that will obviously take time and in ANY case UNXL don't have any customers... no more 'royalties' should be expected to be received. There are numerous clauses in the agreement about what happens if UNXL ever get any customers over the next few years but they are just coverall eventuality type clauses... In essence not with worrying about. More important is that the agreement states that UNXL have exclusivity for ONLY two years and ONLY for mobile touch sensors. That leaves Carclo immediately free to explore any other options or applications that FLT MAY be able to be used for. I can't think of what use an invisible touch circuit could be to anyone tho!

The whole legal agreement between ATML and UNXL is to long to publish here but this is the pertinent part: ARTICLE II PURCHASE AND SALE AGREEMENT by and between Uni-Pixel Displays, Inc. as Buyer, and Atmel Corporation as Seller dated as of April 16, 2015 2.3 Purchase Price. The consideration to be paid by Buyer to Seller in consideration of the Purchased Assets shall be equal to (A) Four Hundred Fifty Thousand Dollars ($450,000) (the “Purchase Price”) as evidenced by a promissory note in the form attached hereto as Exhibit F (the “Note”) delivered to Seller at Closing, plus (B) the assumption by Buyer of the Assumed Liabilities. Again too long to publish here but this a couple of extracts from CAR's agreement with UNXL: On the date of this Agreement, the parties have entered into a Patent License Agreement and an IP License Agreement related to Uni-Pixel’s right to use certain CIT intellectual property rights related to the composition and manufacture of catalytic materials and other materials used to manufacture the coated film, together with the equipment and processes to coat these materials onto base films, process coated film to form circuitized film, modify reflection characteristics, implement anti-corrosion treatment and add protective coatings to circuitized film, together forming the metal mesh based capacitive sensor material known as the Xsense product (collectively, the FLT Licence). The Initial Purchase Order (a) a volume of 11,500 linear metres of Product per week for 16 consecutive weeks; totalling 299,000 linear metres. (b) an ex works (Cambridge) price to Uni-Pixel of US$7.90 per linear metre (such price calculated by CIT on the basis of a film cost of $24 per square metre and a PET film cost of $2.32 per square metre) as set out in more detail in clause 4 Also: (b) make relevant CIT personnel available to travel to Colorado Springs to train Uni-Pixel personnel in the operation of the Colorado E&R coating line. CIT shall reasonably assist in bringing up the Colorado E&R coating line as described under clause 9.1, to the same operational capability as the E&R Coating Line, targeting completion of transfer within 100 days from the Commencement Date. However, CIT gives no warranty, undertaking or representation whatsoever:

Atmel's Xsense assets were actually sold for $450k. Says it all! Carclo's contract with UNXL calls for the supply of 330mm wide coated film till 31st Oct... probably arranged to meet Atmel's prior obligation to supply sensors till 1/10/15 for the remaining tablet that is still in sale. In the meantime Carclo have arranged to train UNXL's staff on how's to produce coated film with UNXL paying all CAR's expenses. Interesting also that the agreement states that the coated film line in Colorado, although was installed, was never calibrated or validated for production. Carclo have agreed to help bring it up to scratch but with no guarantee that it will be possible. A VERY strange affair... but yes Carclo have now got an unexpected $4.5m which will go a long way to alleviating the need for any other money raising activities, that alone should underpin the sp around the current value. We now know what Carclo intended to do with the coated film FLT premises, now we have to see see what they intended for printed electronics... although it's looking likly they will exit that too. The FY results, due in June, could conceivably/hopefully bring about a small re-rating depending on what the market thinks about Carclo reverting to their plastic moulding and LED businesses with potential for some 'blue sky' coming from CDS sometime in the next 2/3 years.

in IC article today: The £21m write down to the value of Carclo's (CAR) Conductive Inkjet Technology business last year has helped draw a line under the problems experienced by the division and allowed investors to focus on the company's technical plastics and LED businesses, which are both doing rather well. Investment in capacity and a focus on the medical market are expected to drive sales and margin growth at the technical plastics business. Meanwhile, the group's operation supplying LEDs to top-of-the-range cars is benefiting from the trend for such cars to have more lights. The company is also developing a diagnostics business that could create significant value further down the line. A review of the CIT business should be completed at the end of the month and there are some hopes that the business, which currently has a carrying value of about £5m, could be sold. Broker Peel Hunt puts the cost of exiting the business without a sale at about £1.5m. http://www.investorschronicle.co.uk/2015/03/24/shares/stock-screens/ten-genuine-value-shares-cx3l7GFC3Z9dsCk2X7C0GN/article.html