Member Info for MrBWM

Based on his past track record, we'll probably be told that Clive is self-isolating and there won't be any news for at least another month!

GA - try this;

https://www.docketalarm.com/cases/Texas_Eastern_District_Court/2--20-cv-00038/Nanoco_Technologies_Ltd._v._Samsung_Electronics_Co._Ltd._et_al/1/

Troublesome - I'm sorry you took my message that way. I certainly didn't intend to denigrate anyone; quite the opposite. You are right, of course, that money is important but I still value my health more.

Nanonano - The RNS on 17th Feb said 'The Company's expectations for cash on hand remain in line with prior communications.' so I don't think the interim statement will hold any surprises.
As an aside - I still note that the key RNS from yesterday hasn't appeared on LSE, which is ironic given that they manage to publish every one that describes Peel-Hunt's trading minutiae bang on time.

Whilst I agree that the poster to whom I think you refer was repetitive and made wildly exaggerated claims I believe his enthusiasm was genuine and I suspect he has had something of a shock over the last couple of days. So I hope that his absence is down to taking some time to reflect rather than anything more serious. We've probably all taken losses (at least on paper) over the last two days but - given the virus and everything else we have to contend with - I'm comforted by the thought that it's only money after all.

RG sold at 13p - not a good sign of confidence; but perhaps he's just reducing his exposure at this stage in advance of more news.

ddubya - I think it may have been you who asked yesterday why ME would want to depress the share price with yesterday's unnecessary RNS (apologies if not) and I think you may be right that the purpose was to 'improve' the dilution scenario. Alternatively it could have been to make a low-value sale more palatable to PIs. Anyway, each passing hour (and share price fall) makes Nano more attractive for a speculative fund with a decent risk appetite.

GA - If I were in Samsung's shoes I would keep quiet at the moment and watch what happens. It is in their best interests to string things out for as long as possible in the hope that either Nano simply runs out of cash or the share price falls to a point where it is simpler and cheaper just to buy Nano. At the moment they have the cash, the income stream and, therefore, the power to wait things out. And we should always remember that they may not be guilty (or, at least, can't be proved to be guilty).

I see that some on here are back to wild speculation about hundreds of millions of dollars payout; that's a long way down the road if it ever happens. The immediate issue is cashflow beyond the summer; without that there is no court case and no payout.

In the short term the real test will be to see whether RG has continued to buy. Given that he owns around 15% of the firm his reaction will be crucial to confidence levels for the future. I think we will know pretty early on tomorrow if there is an RNS about his holdings. If he is still buying then some upward movement is likely but if he is sitting on his hands (or worse selling) then tomorrow could look even worse than today.

By the way, does anyone know if you can do a facepalm symbol on these messages? Judging from some of the recent comments I may need to use it.

GA - Mates rates?

All this coughing; has someone caught Covid-19?

Having been one of the 'realists' posting on here for a few weeks warning about getting carried away with bid values in the 100p plus range, I can now see value here and have bought accordingly. RG's buying point has been in the range 20-25p and I think that there is a realistic prospect of a hedge fund (or equivalent) being willing to buy out (ie; take a punt on) our legal case with Samsung at around that price. Basically the RNS says that there are still negotiations going on - and that represents no real change from yesterday. The biggest concern at present will be to try and get some stable financing in place to fund the legal claim to its natural conclusion.

I'm not sure this is RG's first taste of disappointment; wasn't he a holder when the Apple contract ended? At that point he averaged down and bought more at 10-14p (which is what I did); maybe this is another opportunity to do the same. It will certainly be interesting (and possibly informative) to see how he reacts.

I made this point a couple of weeks ago; that the court case could have been prompted by the direction of travel of the sale negotiations. We now need to have a clear strategy about how and who will fund the court case. Although perhaps we're now so cheap that Samsung will just buy us out at the current market price!

TB - Coronavirus throws up an interesting challenge for the sales process. On the one hand a rapid conclusion would at least put us out of our waiting misery, on the other hand with equities currently valued at recent lows it has the prospect of reducing the selling price. All assets are cheaper now and so we might be better holding out until markets regain some value; personally I think it depends on how long the cashflow situation remains satisfactory.

Incidentally your earlier message says 'we "should" be due it by now'. Due diligence takes as long as it needs and I don't imagine the court case will have speeded things up. The last RNS refers to news 'in due course', which could cover a range of time horizons!

PPE - I am a long term investor here and I am as enthusiastic as you are about the future, but I will always temper my investment decisions with a healthy dose of realism; that way I am less likely to be disappointed by the outcome. At the moment my average is 14p and so I can afford to hold onto my shares until the future direction of the firm becomes clearer.

Talk about timing... the 27th was Thursday....

The 27th was yesterday!!

PPE - so what you're saying is that either last year's valuation at 55p was wrong or the current valuation of 20-25p is wrong? I think last year there was a view that the Apple contract and the potential from that would see the company forward to a financially healthy future. Sadly, we now know that none of that came to pass; and that the fundamentals here are a record of annual losses with no immediate prospect of dividends or other returns to shareholders. Why else would we be for sale? I think, on this basis, I would be more inclined to think that the 55p valuation was wrong than our current price.

Hawi - BBD is not alone. I've previously written that RG's buys and shorts indicate that he is currently looking at 25p as the 'right' value for the share. I've also suggested that if you at look at the Directors' buys you'll find that they have bought large amounts when the share was in the 14-20p range. I don't think that most of them will be out of pocket at current prices.