The worrying bit is the wording “to meet projected customer demand” on the basis they have no orders what does it mean. What is the projected demand, why not say, I bet they have no clue it’s finger in the air stuff.
Just a brief reflection on this issue. Our directors raised over £30m at a time when they could not participate because of a close period. These funds were raised at over 25pc discount, showing they have no interest in the dilution to LTH’s. I’ve just participated in another issue with PRIMARY BID in Countrywide Properties issued at a 7pc discount the directors chucked in £420k. AFC has been full of hot air for the 10+ years I’ve been involved I hope they have changed, I’ll give it a bit longer but I’m still not convinced. With no skin in the game why should they care.
Well the announced the were commercial and possessed disruptive tech in November 2019. They took their product on a road show around the U.K. ending in Scotland in early 2020. They raised a few million bypassing shareholders to help with COVID downtime and now they’ve nipped in with another £30m with once again the only recognisable institution being Schroeder’s. The big question is are we all being taken on another Adam Bond ride. Remember the directors did not dip into their pockets, it was conveniently a close period, great planning on their part.
This was expected on two counts one it started the week at circa 21p and two its Friday many traders and there are lots don't want to be exposed over the weekend. There is of course a significant chance that there will be some good comment in the weekend press and there could also be a further positive RNS early doors Monday. I'm sitting tight waiting for the next release.
With all the new (16p) shares now available to the market interesting to see volume of over 18m traded (yesterday less than 10m) and the sp firmly in the blue. The growing publicity can only be positive.
RE: Still too many variables and no orders13 Jul 2020 13:24
Bananaman2 I tend (and really hope your right) to agree with your assessment of AFC and I have been involved here for many years. I’ve enjoyed seeing 60p + and suffered less than 3p. A wise guy (now dead) always offered the advice “leave some for the next man” and that has always served me well.
RE: Still too many variables and no orders13 Jul 2020 10:44
Skins4 I did similar to you selling all for a very nice profit, I then bought all of them back via PRIMARY BID at 16p. I’m going to sit on them now, surely £30m plus is too much just to wasted. When it comes decent news could see them double from here.
Dickupham Just been reading through the RRE board and there seems to be quite a few critical of the board for accepting the £18 offer. Before COVID-19 and the crash in the oil price the shares had been as high as £22 and as PC01 has commented they have circa £250m in cash. Maybe you could share you views with this board.