Member Info for Piltick

And there's also mountains of it in the oceans!

AND... PHE is more likely to be making a profit in the next couple of years than ITM.

That's the highest volume since the huge run of 94 million on 13th February.

stokey, I might be wrong, but I seem to recall reading somewhere that car manufacturers, or perhaps Shell, are subsidising the sale of the hydrogen at the service stations. I have no idea what the arrangement is, but I gather the idea is to keep the price to the customers at a viable level.

Yes jabberba, that's the impression I had as well.

Thanks Tarry Breeks. Seems to me that the problem was lack of sufficient funds:
"...that it anticipates having significant funds very shortly".
And that could remain a problem even if SML gets a favourable response from the arbitrator.

Were we ever told the reason that the mystery customer refused to pay SML? Wa it because they had a grievance about SML's performance in some way, or because they didn't have the funds, or just because they didn't want to part with the money?

I believe that care is needed when comparing AFC's MCAP with that of ITM or CWR, because I can't see that these companies' current MCAPs can be justified on the basis of projected future profits.

It's one of those matters that people have different opinions about, and there is probably no absolute right answer. The agreement between PHE and W2T was arranged several yers ago under previous PHE management, and while some argue that it was a mistake and that PHE should have carried out its own marketing throughout the globe, others point out that to do so would have cost PHE a huge amount and that they really didn't have the resources for such an exercise. PHE was (and is) a research and development company, not geared up for marketing. Also, PHE didn't have the funding to build the first commercial DMG unit. I believe that W2T did in fact achieve a great deal in marketing and developing contacts in several countries around the world.

However, others disagree with this view, and state that PHE should have done all of that themselves. Each to his/her own!

stokey, I don't think this has got anything to do with W2T shareholders voting for or against the takeover, but if my reading of Dodger's post is correct, it seems that W2T hasn't got its share register up to date and correct. And the point I was making, surely they have had more than enough time to sort themselves out.

Hi Dodger, I think that is dreadful actually. This deal was first announced just before Christmas, and they had obviously been in discussion for some time prior to that. It took Ben White from then until just a couple of weeks ago to give PHE accurate information about his shareholding in PHE, and now it seems you're suggesting that they haven't been able to sort out the registration of their shares in W2T. If they can't be ar**d to get these basics sorted out after all this time.....well need I say more.

Excuse my ignorance Dodger, but what share warrants are you referring to, and why is that holding up proceedings as far as PHE's circular to shareholders is concerned?

Hi Stumbler, I'll try to answer your question if I can. The "mousetrap" is only a 1-3 tpd unit, so very much smaller than the 35 tpd unit that is planned to be built at Protos. The 1-3 tpd prototype at Thornton Park is mainly used for trials and testing, and for gathering technical data that is being used in the planning and design of the first commercial unit. I believe that it is generating electricity for the Thornton Park micro-grid whenever it is running, but of course it is not running 24/7. It is also used for testing a variety of feedstock for prospective customers, and I understand that the company is earning income from this activity. We should see this income in the next accounts which I expect will be issued in June.

They are not producing hydrogen from this machine, just syngas which is passed through a genset to generate electricity. It would not be viable to produce hydrogen on this small scale because they would have to employ expensive PSA equipment to separate and purify the hydrogen from the syngas.

I see no reason why PHE would be issuing any new shares other than the ones that will be issued to the shareholders of W2T as the "price" for the take-over.

Two points about the issue of these shares:
- the company will receive £20,500 for the warrants
- the dilution is insignificant as it is about 0.2% of the shares in issue.

Highest volume for quite some time.

Thank you Bod, that's the most plausible explanation for these small trades that we've had so far!

So we'll know who it is in a few hundred years when they get over 3%! :-)

Wolves, I'm quite sure that the latest reason for the delay was that PHE had not received the correct up-to-date declarations from certain significant shareholders regarding their ownership of PHE shares. I think that was apparent from the latest RNS from the company.

Indeed stokey. Now that they've sorted out PHE's significant shareholders, I'm certainly hoping to see the shareholders' circular very soon, perhaps even this week.