RE: CAP-XX - First Profit - End Of Year Results 202011 May 2020 12:01
CAP-XX's net cash at the end of February 2020, post the £3.4m fundraising at 3p per share done in January, stood at A$6.4m . The initial budget for the Murata deal including all acquisition, decommissioning, freight, property and recommissioning costs was set at A$5.8m, but, at the time, CAP-XX alluded to the net cost after R&D rebates, property savings and working capital refinements being more like A$5.3m. Net cash would appear to be more than adequate. The timing of first production from the recommissioned factory remains at calendar Q3 2020, and Murata’s annual historic turnover from this was more than A$13m for around 60 customers. CAP-XX intends to adapt production of its new revolutionary 3V supercapacitor to the Murata production lines, and, encouragingly, reported that it has improved the 3V chemistry to enhance both product life and performance. CAP-XX continue to view this product as a significant source of revenue going forward. Progress is being made in litigation and licencing opportunities, and the company remained confident of new licence deals in the short and medium term.