Member Info for Nanonano

They've not mentioned royalties, therefore until I see some evidence to support the existence of one, either as an RNS or in it's financial updates, I will take it that there is none, nix, nada.

Royalties have not been RNS'd, no mention of them at all. If the market thought there was any royalties coming through, the share price would not be sitting at present levels, even if the details of such a royalty were confidential.

I believe that us more in relation to devices at present being produced in the tens of thousands, and the consequent low scale resulting in higher cost per part.

So in order to get the price down a large scale customer is required, but that means they have to have something that meets their requirements in terms of performance and reliability.

At present it looks like no one has a material that does this, they may be close but no cigar.

“ the cost factor of swir becomes less relevant.”

In the last conference call the cost of adding QD’s to cmos devices was given as 12-25 cents, and for very high volume like a phone I’d expect that to come in at the lower end figure. Even within the tight margins of consumer device BOM’s that is not exorbitant. Perhaps performance and lifespan of the devices are what is currently holding back wider adoption?

We know they've agreed not to sue one another. We don't know if Shoei is developing its own IP in sensor materials, and of course Nanoco is not without competition in this sector elsewhere too e.g. Quantum Science Ltd, amongst one or two others. All assuming the tech reaches commercialisation before they run out of cash.

Recent rumours suggest Apple have hit a bump in the road for under display Face ID, what tech that is we are left to guess. Certainly not Nanoco tech as they still have their production facilities mothballed.

Wouldn't a company that wished to act in good faith have come to nanoco for a license before producing cadmium free dots at scale with their IP?

I think the market is valuing the company at where it'll be 12 months from now, having used up another £4-5m in cash. With no more news of value between then, you should expect the share to fall further in accordance with the cash position.

They're pretty late with giving notice of their results this year too.

I wonder if the second JDA has been dropped and something has leaked. Isn't it due for renewal around now?

Independent sources of knowledgeable people appear to support the opinion that there remain significant obstacles to widespread adoption of SWIR technology via QD's. Makes it somewhat difficult to envisage adoption of QD sensors at mass scale within the next 12 months or so.

No it isn't up to them, they're almost at ground level in the supply chain. It's so much up to numerous other customers above them whether they succeed, which is why relying on one or two JDA's is so inherently risky.

Define reassurance?

The lack of business as usual is the problem.

Edison and Times articles drove the share price to 70p along with an RNS efficient with information right at the end of the week. CEO getting pulled off by LOAM.

If Nanoco said there will be a royalty based license going forwards, but that the amounts were confidential I think that would have been seen as highly positive even though the amount would have been speculative. As it is, they've said no such thing, and I'll take it as that until I hear otherwise from the company, and the market is clearly thinking the same.

Until I see either some official announcement from the company or a swollen balance sheet, I'm taking the information the company has provided as the meat and potatoes of the deal.

Time for some questions at the interims methinks.

If there is additional income from undisclosed source then that will be impossible for Nanoco to conceal, as they get such little income.

Of course AI can only go with published information, but that's all investors can go with, unless they have inside information.

TW I’d agree that royalties are the standard way of monetising IP, this quid pro quo covenant is quite unusual, but then Nanoco are a strange old bunch.

I know you love a bit of AI TW.

Here’s what the google ai came up with

Based on the settlement announced on March 26, 2026, Nanoco will not receive royalties from Shoei for the use of its patents in the display field.

Here are the key details of the agreement:

No Compensation or Royalties: The settlement specifically stated that no compensation would be paid by either party, and it established a "truce" rather than a licensing deal.

Three-Year Truce: Both companies agreed to a three-year pause in patent litigation.

Cross-Licensing (Intellectual Property Exchange): The deal involves a division of markets:

Shoei can use Nanoco's patents for the display field.

Nanoco can use Shoei's patents for the sensing field.

Strategic Outcome: While there is no immediate cash inflow from royalties, the agreement removes legal uncertainty and secures a "cleared path" for Nanoco to focus on its core Joint Development Agreements (JDAs) in the sensing market.

In summary, the deal provides freedom to operate rather than a cash-royalty stream from Shoei.

Nanoco is a public company, with accounts published, and if there was income from royalties, investors will know. Or are you suggesting such income would be concealed?

Sub 5p I see, a new low.

‘There are a lot of unanswered questions around the Shoei litigation and settlement and its effect on the CDX process.’

True enough, doubtful we’ll receive any answers though.