Member Info for Punter21

And I wouldn’t be at all surprised to see the appointment of a major global investment bank as broker.

As I think I mentioned in my last post there is a strong pipeline of news on the way.

All of the naysayers shall disappear with clarification on the source of funding for the company. News of which shall be not long now.

Ignore the doomsayers. They will soon have nothing to drone on about.

In the immortal words of Johnny Rotten “ have you ever felt cheated?”.

Let's see shall we........

The question is, what did the directors know about this when they took in the placing money? Yesterday. All rather smelly I fear. Dare say the FCA will be taking a look.....

To throw in my ha'pence worth here TF.

1. Once again I state, it is an anode. At no time has a full battery, nor giga factories, been contemplated as far as I am aware. The anode is for integration within others' batteries, preferably Na-ion but it doesn't have to be. It works with Li-ion as well.

2. I fully expect to see a deal on the anode side, with an upfront cash element, to provide the funding required to take the motor(s) through to first production. This could either be a partial sale of the anode (via one of their subsidiaries) or a licencing deal with an upfront element. Either way, it should provide funds which will not require any further equity raises.

3. We could also see a territory carve out of the motor, with Cummins taking the US and EVage taking India. However Cummins also has a fast growing business in India (last year turnover £71mm, up 26% year on year), some of which in the automotive sector, with Indian turnover substantially larger than EVage (£788K). The question is would Cummins want to see India go to a competitor. Again, this is likely to bring in upfront cash.

4. Everyone has their own risk tolerance profile; yours is clearly lower than most. This is neither a good or bad thing. It is purely a question of personal choice.

5. There are no doubt other funding options available to them, such as sovereign wealth funding, government grants, etc, but a move to AIM at this time with all of its current uncertainties would appear foolhardy.

5. I agree however that the company needs to clarify its funding intentions sooner rather than later, which I believe will be the last hurdle prior to a substantial re-rating of the business.

Use your vote. Get BF out.

The company has funded itself historically with share issues and grants. I would not be surprised to see more grants coming their way nor licensing/cash payments for territory carve outs from majors. Neither of which require share issues. And let’s not forget our recently appointed non exec with his Middle Eastern connections, which again does not require an equity issue.

Nonsense. The company said it it will take funding in December. Funding does not necessarily mean a placing.

To quote from an ADVFN post - they are writing cheques that they cannot pay. Very dangerous times for the directors.

Well, I "hope" you are right Mr Green.

Cannot deny but my patience is getting severely tested here. The fact is that we are second guessing what the strategy is, in the absence of a clear explanation from management. We can all hope for the Indian MOU to become something of substance, Cummins to ask for a territory carve out, new NEDs to bring something to the party, yada yada.... But that is all it is right now. Hope. Whatever the legality, Boughtwood, as CTO and inventor, sold a large proportion of his stock and quite possibly voted 36 times with his feet, which could be very concerning. To the positive, there would be nothing to stop him buying the stock back of his own volition. Somehow that doesn't seem likely.

Is deafening. Has anyone done the calculation to compare money in from the directors versus money taken out in salaries?

Which would be nice….

Experience so far however is not pointing to that any time soon.

All very depressing.

Truth, the company is on standard list and hence no nomad. But they do have advisers. They most certainly will have a company share dealing code governing staff as well as directors. Standard wording for directors is always to get permission of the chair or board for any intended dealing by any staff or connected parties. It would appear pretty cut and dry that this would have been breached.

Xviolet An appeal concerns the lack of action by the FCA, not any issues with the company per se.

I think that an appeal is a priority. Let’s see how much support we can garner from this board to add weight to a letter to be sent to the FCA and the Company.

Someone seems pretty set on pushing the price into the ground. Some trading news from our dynamic board is well overdue.

I think we can safely assume that it is Boughtwood continuing to sell.

DGI do not have a battery. They are working on an anode made from fully sustainable materials, not the full battery. Whilst it is targeted at Na-Ion it has inter operability with Li-Ion.