Member Info for RealityChap

You can go on if you like but you're wrong/just playing on semantics

Tamgo have bought one/some - but they are for demo purposes to show their customers. if those customers don't bite then they are one off and minimal sale(s).

Acciona - yes, almost forgot them. They have had one on a lease and no indication yet that commercial volume will follow. Some promising signs but we've seen too many of those to take it as read.

Nifty - volume matters and we have no clue re volume. It might just be another Acciona style trial/lease for all we know. I'm sure that if it really was material we would know because it would be price sensitive - so it isn't.

ABB - we really don't know if that contract (was it 2022?) remains in place;; every commercial contract I've ever dealt with (lots) has a delivery date in it. It was a question I submitted to the last IM presentation but it wasn't touched on. So who knows? Maybe the version announced yesterday is for them as well as Brett but we don't know.

Conjecture is great but after so many years of disappointment and let down we need facts and we have very, very few.

I note you have left out Speedy which not very long ago seemed like our quickest route to market but clearly has delivered little. And before you start banging on about last year's £4m of revenue it really doesn't count for much if its's just sales to a joint venture. We have no idea whether those units are actually out on site doing their job.

Unless something significant happens soon we don't have till 2030. Just posting links to everything that involves hydrogen doesn't couldn't as useful research.

You'll probably come back now and ask what useful links I've posted. And I'll say a critical thought process rather than blind faith - so I've saved you the bother.

So you'll doubtless resort to personal abuse and I'll therefore ask you the same question I've asked you multiple times and which you have ignored exactly the same number of times.

Can you pick out a single thing I have said, disagree with it and debate it it in a civilised manner?

CN, I wonder if you are familiar with the problems that deflation can cause economies? - Because what AFC face has some similar characteristics

In a deflationary economic environment firms cease non-essential investment/capital spend because they are confident that what they need will be available cheaper next week/month/year - and that's kind of where AFC are because we have revealed several products that have been available to market but most have been superseded by cheaper versions before the earlier ones have been adopted commercially.

We can't keep producing units that aren't competitive enough - because nobody will buy them unless legislation compels them.

Presumably you think that our cracker has a fighting chance of being the solution of choice when the ammonia arrives? Maybe so - but they've placed an order for the ammonia but not for our cracker which suggest they have another solution doesn't it?

34% smaller - good

28% lighter -good

65% lower cost - good

These things are all good, that is beyond dispute.

But still some very obvious question. As for cost what is it it 65% cheaper than? The previous AFC version? The latest diesel options? Is it cheaper to buy? Is it cheaper to run? Both?

The fact remains that we need sales, volume sales and we have none as yet - and you can argue about hat all you like CN, but it's true.

Tamgo - Nada

Speedy - possibly something but not much

ABB- nada; will this get us something there?

Brett - a trial, might lead to something but not anytime soon

Nifty - a contract but no clue how many for

And whatever others I've forgotten.

it seemed to be clear last week that Ricardo have gone in a different direction like so many other potential partners.

We need SALES, SALES and more SALES.

Judging by his sycophantic post on LI, I can only guess at which hole CHN has crawled out of

Price sensitivity is what determines whether an RNS is needed, so this clearly isn't coming at this stage with major revenue as that would obviously meet that criteria.. The word 'trial' comes to mind for some reason...

It's an incentive to perform but it's a risk free incentive so is not aligned with shareholders.

Surely it would have been better to lay off the options before some positive progress had been demonstrated to shareholders and the market. And before anyone says it's down to the remuneration committee we all know how cosy that has been over the years (not just AFC) and there is no compulsion on any director to accept recommendations.

We're all looking for that, AN. But there can be no reason for confidence that we will get it

Absolutely agree that he needs to be given a chance to turn it round. The only source of optimism at present in the total absence of any meaningful sales (Cue CN with his daft comparisons about last year's revenue to the previous year) is the fact hat he and his mate left jobs to take these positions.

It wouldn't have hurt to leave the options announcement a little longer.

I don't think there was an specific reason for Bond to leave. Nothing that generated an RNS for example. Just general failure.

The only reason I can see for optimism is that the new bloke has a decent track record so whey would he come unless he could see a future, and why would he recruit a former colleague to work alongside him? The options aren't meaningful unless something is delivered. problem is that while, say, doubling the share price would be an achievement it wouldn't be of great significance for long term holders.

So depressing. Yet another one to add to the list of potentially fruitful partnerships that go nowhere

Https://www.londonstockexchange.com/news-article/SDY/trading-statement/16880498

Pick something positive out of that. Shares down 29% to an all time low

Hard to apply pressure through Qs that can be selected for As

I've not the slightest interest in introductory PR puff. I expect a new manager of my football club to d an interview on day one and rally the troops but AFC's problems aren't going to be solved by a tweak to formation.

I sat through an IM presentation yesterday for anther company which has come close to the edge and has a new CEO. Very bullish and preceded by significant RNS's. Hoping for similar next week.

Blind hope. It's all we have.

Please don't ask questions that they will never be able to answer. What they do, and have done in the past, is enable respondents to waffle on without providing any useful information , and therefore not get round to giving out anything of interest.

The would include:

Questions about:

When break even is planned for.

Specific values of contracts

Whether there are plans to take the firm private

etc.

We hope that, between now and then, that there might be some positive newsflow, but we'll soon enough know whether that's the case, but there is absolutely zero chance that anything earth shattering will be revealed during the call as it just isn't an appropriate forum in which to reveal price sensitive information.

Just posting the same thing multiple times guarantees us nothing. And posting it multiple times without any attempt to put in in an AFC context is pointless.

This is both the hope and the concern.

Many large construction companies visited - and that was said at the last AGM which was over nine months ago - and yet here we are with no confirmed orders from any of them.

I'm sure they do to some extent, but I struggle to believe that they do major business with Speedy who, let's not forget, are a tiddler of a firm with a market cap of £125m and a long record of failing to create shareholder value themselves. And our distribution arrangements are exclusively with them.

Can our joint venture really cater for major companies in the sorts of volumes that we need if this business is to scale effectively? I simply don't know.

The question remains, as it has done since it first looked like we might become commercial maybe five years ago - can we get real volume sales? In fuel cells or crackers?

Is this government really going for green growth when its big idea is to build another runway at Heathrow?