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From Share Prophets the following:

The way that shareholders' cash was ****ed away on corporate jollies & semi clad young ladies by the former board of Teathers Financial (TEA) has already been documented fully here. But documents have now fallen into my possession, here at Winnileaks, which ask even bigger questions about FD Nilesh Jagatia who is pro tem, still FD at AIM-listed Inspirit (INSP)
and Octagonal (OCT).

AND

Octagonal Plc – Nilesh Jagatia’s latest accounting fiasco and the cover up. Tom Winnifrith Friday 27 March 2020. Octagonal (OCT) CFO ’s is Nilesh Jagatia a strong contender for the worst CFO of an AIM company. No I lie. As we have demonstrated over and over again, he is not only useless but, almost certainly, bent as well

Today’s RNS from Octagonal (OCT) shows clearly that it tells lies and is thus run by a liar in John Gunn. However, it also suggests that its FD, AIM’s worst FD Nilesh Jagatia, cannot do basic maths and that its promises of a dividend and share buy backs are reckless in the extreme. Ahead of a GM vote on delisting, how can it be allowed to make such pledges?

Novicehunter:
Pleased to see you share my views.
INSP definitely loss making.
As for research, simply read the promises made in the RNS statements over the last few years and with hindsight you can now decide if words matched reality. Did those promises get fullfilled ..... and that is a resounding NO on every count.
A RNS list of failed objectives and never a single attempt by John Gunn to explain himself, he assumes the punters are dumb and although it pains me to have to agree with him, he is correct.
That's how the system works dummies follow dummies because they can not be bothered to read the RNS history.

Oldblue: You could be right but it would be the first time !

Oldblue: I'll condense it to one. Your investment is isn't !

Consider the concept of licensing versus product sales. Taking Inspirit at their word, for the last 4 years they have been improving the Charger via design for Manufacture and improving ‘efficiencies’ whatever that may mean and have also been developing supply chains. Presumably, they have a good grasp of the costs to produce a production Charger. By production, I mean, a product coming off an assembly line in tens or hundreds per day, to supply their vast European target market. Therefore given marketing/sales data of the competition, the savings to be made, etc, they know what they will charge and should know - down to a penny, what profit they will make. If they don’t then what have they been doing for the last 4 years or so ?
In comparison, how can you value a licensing deal? What type of deal will it be? A one-off payment for the technology license and the buyer develops their own product, unlikely. A one off payment for the developed Charger, allegedly. A percentage of total sales, with or without a cap. Variable royalties, staged royalties, the list is almost endless. How do you deal with downstream production/installation/installed problems, can the licensee be recompensed. The standing of the licensee will play a big role in the viability of a launch and future sales, a big player would make a real difference and have a big say in negotiations.
Obviously, Inspirit would be in a far stronger position having a working product, tried and tested in the field and fully certified for the European market but that has NOT happened. On the other hand with an untried product or technology the licensee is taking a big risk and will not want to pay big until he knows he’s going to make some money.
Since the IP is not patent protected then Inspirit are in a weak position to call the shots with anyone taking a big risk on this 40 year development project.
The sensible approach must be for Inspirit to run the Charger to full development and certification and prove it is a viable product. Surely from what they have reported over the last few years that should be relatively simple to complete unless they have been deluding themselves and others.

The continued Design for Manufacture cannot continue indefinitely, it has been strung out far too long already. I think this ‘refocus’ is simply part of the Charger exit strategy; to get John Gunn out of hole he has been digging for the last few years. It now opens the way for RNS citing ‘new discussions with prospective licensees’ for years to come. All the while investors come to accept the Charger will never be brought to market, and WHR is dangled enticingly, suggesting future riches to come

While you're on the web site John, the register your interest button would seem to be redundant since INSP are no longer making a product. Come to think of it may as well take the site down it doesn't represent the current reality of of INSPs focus.
WHR not very relevant to residential properties.

Again from the web site, the height of the Charger is shown as 850 mm. The height was subject to a RNS so time ago and was said to have been reduced below 800 mm.

These people can't keep a very simple web site up-to-date. What hope of creating innovative waste heat recovery technology?

John seems to have trouble keeping on top of the story!

From In Spirit web site:

The result is a product with multiple patents for engineering innovations ...

Totally misleading information, patents lapsed. There are no current patents relating to their Stirling engine. Remove from web site immediately please.

Derv/Netzeroready: My pleasure. Not sure the sector that has no products to sell is the right sector, I'd review your investment strategy.

Oldblue: Any answers ?

More bull to feed to faithful !

Any company intending to produce products based upon Inspirit's licensed technology is not going to want Chinese copies appearing on the market 3 months after launching and probably at half the price !

If Insp want good money then the buyer will want good protection - simple

Why should anyone want to pay a license fee to Inspirit for the rights to technology that is NOT protected by patents.
Oldblue mentioned the question of patents was raised at the GM a couple of months ago. The answer was something along the lines of we'll obtain patents when required.

My money is on NO patents will be filed and therefore there will be no copy protection

Remember this little snippet that was used to entice you to buy into this fairy-tale ?

The applicable market for our technology is global, either as a boiler replacement product or as an add-on to an existing commercial plant room. In the UK there are in excess of 20 million gas boilers installed and more than 1.6 million new and replacement domestic gas boilers are installed each year. This is in addition to almost 300,000 commercial boiler installations each year. Europe as a whole has approximately 70 million boilers installed. These are the first markets to which our technology is applicable.

To which our technology is applicable ?

BUT WE WONT ACTUALLY BE BUILDING ANYTHING APPLICABLE, CERTIFYING ANYTHING APPLICABLE OR FOR THAT MATTER SELLING ANYTHING APPLICABLE.

THE SHIFT IN FOCUS TO LICENSING WHICH IS CONSIDERED WILL PROVIDE A HIGHER MARGIN THAN PRODUCT SALES

Millions of boilers sales in Europe ....................... a dream and now gone gone gone !!

RNS 24 December 2020:
Following other sources of products interest during the year, management have focussed the value-in-use calculations on licensing sales rather than product sales. This has been done as management consider that the revenues are more near term in nature and note that it uses the same core developed technology. Given the product's nature, the core estimates have remained broadly consistent with an increase in gross margin given THE SHIFT IN FOCUS TO LICENSING WHICH IS CONSIDERED WILL PROVIDE A HIGHER MARGIN THAN PRODUCT SALES

Read this stuff ! Nearly FOUR years now! The same old rubbish year after year and the daft INSP investors swallows every single word.

30 March 2020
During the period, the Group continued to advance its microCHP boiler and marine engine application with its European partners. To this end, improvements to the design of the Group's Stirling engine technology, including output of 6.4kW, progressed further with the simplification as part of the 'design for manufacture' process and meeting the challenges in new technology development, sourcing cheaper materials and efficiency re-redesign. All these factors resulted in further delays to the certification process although we hope to progress forward with a higher output and cheaper cost base product later his year.

23 December 2019
During the period, the Group continued to advance its microCHP boiler (the "Charger") closer towards the goal of commercialisation. To this end, improvements to the design of the Group's Stirling engine technology, including simplification as part of the process and meeting the challenges in new technology development, sourcing cheaper materials and efficiency re-redesign, resulted in further delays to the certification process.

29 March 2019
During the period, the Group has continued to advance its microCHP boiler closer towards the goal of commercialisation. To this end, improvements to the design of the Group's Stirling engine technology, including simplification as part of the 'design for manufacture' process and meeting the challenges in new technology development, sourcing cheaper materials and efficiency re-redesign, has resulted in further delays to the certification process

31 March 2017
"The Company is continuing to advance towards the commercialisation of the Inspirit Chargers and the business is working hard to meet the required milestones of approvals and customer field trials whilst incorporating the 'sealed for life' Stirling engine component within the overall appliance configuration. This is being achieved through extensive reliability tests and supplier evaluations. It is fully expected that on conclusion of these tests, sales can be targeted within the next financial year.

2017 - SALES CAN BE TARGETED WITHIN THE NEXT FINANCIAL YEAR

Truly a JOKE but not for those that bought in on that statement

or the real RNS information that should be being posted by INSP but is not issued, which has kept investors in the dark for years.

Oldblue: You could be right, perhaps I should stop replying to childish, pointless posts but on the other hand not much else to do when people like you won't enter into a sensible discussion of the RNS material produced by INSP.