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@MarcusExile just click on my profile and you will see.

@Elsol I retain a core holding here but until I see some traction with the share price I am not investing more. As previously explained this won’t happen until Octopus Investments stop selling. When that happens and the share price is no longer held back I will invest further. At the moment whatever investors buy, OI sell. The share price is being held in a very unnatural tight range because of this.

In the meantime my money in the other AIM stock I follow is doing well thank you (up 11% yesterday with more to come) and hopefully I will invest some of those profits here when things eventually get moving, whenever that may be.

Hopefully the other AIM listed company I am massively invested in will hit the jackpot in the coming months and I will be able to invest some of those profits into Itaconix.

I’ve still got a core holding here but am waiting for progress with the share price before I invest further.

I just can’t afford for my money to sit idle here for another 6 months while Octopus Investments sells off. Of course if there is any evidence OI stop selling (i.e. the share price starts rising, then I will be happy to reconsider that) 😁

@Buildworker that is a cracking find. 3 key points for me.

1. I can see how British made and owned Ilika would have a massive advantage for once over the Chinese who would not be NDAA compliant: “A compliant cell can’t be “owned, sourced, refined, or produced” by a Foreign Entity of Concern (FEOC). That means companies in or controlled by China, Russia, Iran, or North Korea.”

Ilika’s pre-existing relationship with Cirtec is another bonus that should help fast-track approval in the US.

2. Looking at the table which lists the Ah capacity of other cells for drones, it is clear now why Ilika chose 10Ah as their MVP.

3. Does anyone know if the Ilika battery chemistry fits the description? “A drone cell needs higher energy per kilogram (300+ Wh/kg) and greater continuous discharge than an EV cell. It can tolerate a shorter cycle life.”

@RichWG 😂

Unfortunately I’ve had to scale back birthday gifts due to lack of profit here. Hopefully Itaconix eventually delivers and my wife can look forward to something more exciting next year (if she hasn’t left me by then).

Katstrangler you must be kicking yourself every day for not buying in at 25p. Thats gone, move on. The current share price is still very attractive when you consider what is in the pipeline for both Stereax and Goliath.

Every day you sit on the sidelines you risk being caught out by a major announcement. I agree defence is the most likely, that is what I’ve been saying for weeks now but I think it will be bigger than you anticipate.

I wish it was possible to post photos here. I’m very curious to see what they look like. Might just have to order myself some to sample. Make a nice present for the wife.

At 5:09 into the video there is an almighty hint from Graeme

Purdy about commercialisation of the 10Ah battery that “ … will excite investors” (said with a big smile across his face). My money remains on the defence sector as being the first big Goliath announcement, and I think it will come before the Full Year Results meeting on 29th Jul 2026.

katstrangler change the record. read through your own posts this year and even you keep pushing back the date they will supposedly need a fund raise.

you massively underestimate the financial power of the defence sector. bab**** international for example have a market cap of over £5 billion.

regarding stereax the company has successfully commenced commercialisation, well ahead of any competitors at this scale of battery.

regarding goliath they have 27 irons in the fire. i predict defence will be the first big announcement. usually the company go into their ‘investor meet company’ events with a big announcement and that’s why today i am still adding to my substantial holding. i said at the start of this year that within 12 months time i expect the share price to be over £1 and i stand by that.

I also agree that Ilika have this mapped out. Don’t forget they always land a funding grant each year, which will give them additionally runway. However, I don’t think we will be waiting long for positive announcements. The brokers this morning are particularly enthusing about the defence opportunities. Here is what Morphose wrote:

▪ “Defence emerging as a potentially lucrative vertical for Ilika In light of the current geopolitical climate, particularly around UK & EU investment in sovereign defence capability, combined with the general shift toward electrification and the heightened safety requirements of several defence applications; Ilika’s Goliath SSB platform is wellpositioned to benefit. Ilika received positive feedback from a UK defence agency in March and is engaging with a portfolio of defence companies, looking to supply European defence forces with power solutions for the modern defence environment, where automation has become dominant.”

My confidence is based on their successful development of Stereax. Implants have higher safety standards than any other industry. If the product is technically good enough for Cirtec to go into partnership and send the battery out to their valued customers, then Goliath is certainly good enough to stick in a car, drone or e-bike! Clock is ticking this morning if you want to get in cheap, announcements will come!

Katstrangler let me explain in simple terms.

At the end of April 2026 they had £5.3m cash.

Clearly they have reduced their cashburn rate for which they should be congratulated. But even if it is as high as you claim (440k per month) then that would give them 12 months which takes them to the end of April 2027.

During that period there will be announcements from some of the 27 companies currently evaluating their 10Ah Goliath batteries and we are now into the licensing announcement window. Today’s announcement massively de-risks Ilika.

Clearly maths wasn’t your strong point at school! 🤦🏻

Well the RNS statement proves why you shouldn’t listen to Katstrangler. “Cash and cash equivalents at the period end were £5.3m (30 April 2025: £8.0m).” Leaves enough cash for at least another year and during that time there will be some big announcements. The targeting of multiple defence companies sounds particularly promising.

@katstrangler please provide a link to your source of information or is this something you have just invented in desperation?

We don’t know is the short amswer! As usual no comms to explain the delay.

@MarcusExile I have been debating the same as I am struggling to make a case for the share price going up during 2026. The company is progressing well as no doubt AJP will detail but I don’t see that translating into share price growth until the January 2027 update.

It is simple supply and demand. Whatever we buy, Octopus Investments sell. I’d much rather OI dumped all their shares in one go so we could get the elephant out the room.

Customer relations / marketing continues to suck. The recent 8g tablet is an example of that. Everyone knows we have an update in July which will basically confirm that they are on course to hit 13.3m in 2026. Profit comes in 2027 which is when the market can justify an improved EV / Sales ratio and a share price closer to £2 than the current £1.

Unless there is some transformative news between now and January 2027 or Octopus Investments stop selling their remaining 1 millions shares, I just can’t make a case for 2026 which is why I am short term bearish and wondering if my money can be invested elsewhere over the next 6 months. Then come end of year / start of January 2027 plough those increased funds back into Itaconix as I remain long term bullish.

Finally decided to take the plunge and buy shares today. I’d marked £3 as my entry point so to get in below that is a bonus. Now looks oversold IMO and a good rebound play. Continued Director buying, dividend pay outs and investment in new products like PureGRAPH® enhanced cement are also reasons to buy. Timing is everything of course but 12m from here I’d hope to be up a tidy 50%.

In trying to understand the current share price I have taken a look at the current EV/sales ratio and it appears that the market has decided to price Itaconix at an EV/Sales ratio of 1:1.

Based on 2026 broker estimated revenue that would make the ‘fair’ share price 98.5p.

The specialty chemical median is 2.1x for companies in profit / generating a positive return on equity. Therefore looking ahead to 2027 when Itaconix is forecast to become cash positive a feasible share price would be 207p.

So whilst my current outlook for 2026 is bearish, my long term outlook for 2027 onwards remains bullish.

Interesting analysis of the pros and cons of Itaconix. Though it does need updating with the 2025 results as it was written in November 2025.

https://koalagains.com/stocks/AIM/ITX

Clearly the lack of an official explanation for the delayed AGM is not helping the share price. The Itaconix comms team really need to do get something out today before we go sub £1.

Whilst I haven’t invested further due to Octopus Investments, I still hold a core holding so this is decline is not good for my portfolio.