The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Who runs this outfit? Chap called Arthur Daley! Think they need to make a new BBC comedy drama about these guys. Makes Del & Rodney look like amateurs!
Paragraf to the rescue?
Is the party now back on?
Of the 721 cos listed on AIM, VDTK's YTD SP performance is at 718!!! Yet the BOD soldiers on, as if nothing is amiss. What a joke.
"2 #great British companies leading green tech inovation!!" Get real. Since IPO VDTK has delivered sweet FA in terms of sales and the SP is down 63% YTD. VDTK are better at selling moon shine than solar power.
https://www.forbes.com/sites/drgeraintevans/2021/05/28/im-efficiency-what-marketing-leaders-can-learn-from-this-solar-powered-start-up/amp/
Will be v interesting to see which flex panel provider wins this competitive tender. VDTK, Sunman and a few other flex panel producers have been vying for this lucrative contract ( which could open up multiple sales opps in the transportation sector) for nearly 12 months...
If we assume £120k cash burn per month, then even if they do raise £500k by the end of July, that will only last them 4 months. Stay of execution, nothing more.
As for the lack of any update for PIs - the company's track record of communicating honestly with investors since their AIM IPO in Aug 2017, is a complete joke. The only certainty with VDTK is that there will be a couple of skeletons rattling around in the cupboard, which will make an appearance at some point!
If VDTK have managed to work their way through £1.7m in 5 months (£340k per month) then the current £250k "green bond" isn't going to last them very long if they don't start winning sizeable orders with large upfront payments very very soon.
It's a fair question. On 27 Jan VDTK released an RNS which stated they had £1.7m in cash and no debt. Cash burn is £100-120k per month and they haven't received any orders since the RNS so where has the cash disappeared to?
VDTK raised £3.5m in Oct. They claimed that after fees and loan repayments (Gavin Mayhew) that they had enough cash for 24 months based on £100k pm cash burn and no sales. Yet 7 months later VDTK are looking to raise a further £500k 'for working capital'. I'm sorry but VDTK's BOD have a serious credibility problem imo.
VDTK repaid a £600k loan to Gavin Mayhew last Nov. He has chipped in £25k today as part of the crowd funded bond. Hardly an overwhelming vote of confidence in VDTK from one of their BOD members.
5 months into 2021 and still no orders for VDTK. Yet they have a global sales team of 18, a commercially focussed CEO and a world beating product. What is going wrong?
Sadly game over for VDTK I fear.
Was always a risk that mainstream SPV producers like Maxeon would enter the lightweight SPV mkt.
https://www.pv-magazine.com/2021/05/19/maxeon-launches-frameless-rooftop-solar-panels/
SP chart suggests its heading to 2p unless they announce sizeable orders quick sharp.
Feeks - Re cheerleaders. Ahem. " For just about the first time ever on AIM, I think this could really happen (£1.00 per share). Surprising there's been no mention of this so far."
RNS out announcing yet another order delay, this time with Intergroup Mining ( due to component sourcing issues). Implies pretty near zero revenues on 1Q21. No update on other delayed orders or the Paragraf JDP. Likely to increase mkt concerns about cash burn and the need for another CR imo. Not a great start to Q2!
Trendz- it is indeed a danger game! I reckon they have 3-6 months to get the orders in that could boost the SP, enable them to have another CR and survive. Cov19 3rd waves on Europe (IM Efficiency), Latam (BTMNs) and ****stan (SAF ****stan) aren't going to help revive 'postponed' orders. The Paragraf JDP is still up in the air and VDTK could have to fund 100% of JDP3 (commercialisation phase if Paragraf decide to go further with VDTK). Big question remarks remain about whether IIs ( inc Unicorn AM) and PIs will have the appetite to support yet another fund raise. There has to be some sort of update from the company in 2Q21 or they could be toast imo. At least the Twitter and LinkedIn feeds have been revived, so maybe there is life in the old dog yet.
Could be a trading opp in Q2. Significant new orders could re-rate the SP to the 8p Nov CR price imo. The Twitter and Linked in feeds have just been reactivated. Could be worth a highly speculative s-t punt I guess on the assumption that they probably have enough cash for the next 3 months!
Any thoughts on the complete lack of new orders for over 6 months since last Sept? Things don't exactly appear to be going to plan!
Any idea about when BlueNalu will IPO on Nasdaq?