Member Info for Tradingdutchman

Would be nice to see some movement... getting bored of looking to this flat graph and almost no posts during this period of quarantaine. You would expect that there is enough time to do research and post it here ;-)

Looks like this chat box is also suffering from a lockdown....

PP1 and OS, thanks for your insights. Appreciated a lot.

Techieman, I think time will learn. Let’s see.

Hi all, still not completely understanding the relationship between Ioxus and Maxwell court case.

In case Ioxus doesn’t proceed with the court case, because of bankruptancy or no new lawyer or settlement, how does then work out for Maxwell ? Do we get then a separate court case ?

I hope someone can clarify this on this board.

Tony, thanks for posting this link. I’m prety sure that supercapacitors will end up in Tesla. Musk is very in favor of them and they didnt buy Maxwell for fun.

What brigns me to following question: There was recent some news about Ioxus court case but somehow very silent around the court case of Maxwell. Does anyone have maybemore insights ?

The company has currently a value of 420000000*0.019= a bot below 8 mln pounds.
Sales last year were 1 mln and the gross margin was 55%.
There is about 3 mln pound in cash.(end feb).
Some big players are licensing their IP, like Murata, AVX, TDK and the somewhat smaller CDE.
Installing a high volume production line (which has been proven by Murata already).

How much more confidence for the near future do we need ?....

I recently read a nice recommendation on linkedin on AK´s profile (a bit older, but still):

I would unreservedly recommend CAP-XX as a very knowledgeable, innovative partner with excellent communication skills and high business ethics

This high business ethics made me thinking especially after some recent posts of doubts about this.

Looking the way they handle the company fincancially, it´s really based on a solid pace and all decisions are made in a way that the company stays debt free. Even in last RNS they announced that the lawsuits will be done step by step.

Looking to the way they inform the shareholders, this could indeed be better (I think shareholders always want more) but in general they stick to their words. Ok, the famous soon isnt´t the best example ;-)

Also the way they handle their licensees is very good (Why would otherwise Murata give them the opportuntiy to buy a line ?)

Therefore, my opinion is that this is not the fast pace company which is only there to enrich the management.

More than happy to get feedback.

OS, nice we both agree that there is a huge potential uplift in volumes of the licensees !

Sorry, this one was right in front of the goal....;-)

From the Allenby report: Murata was already generating >A$13m in sales with c. 60 customers.

So this is 6.5 mln pounds x 0.55 margin resulting in 3.5 mln potential profit. Considering a reduction of 200k of murata royalties and the 800k of loss, lets say a potential profit of 2.5 mln pounds. P/E 15 and 420mln shares, this would be resulting in a shareprice of 0.09 pound.

In case they manage the execution well, this result is almost guaranteed by eoy.

And last but not least...this is excluded new design wins, royalties growth of avx/cde/tdk, 3volt impact and potential additional licensees (ioxus/maxwell).

My belief has become very strong after this update.

OS, it is not only the low amount of money, it is also the low amount of volumes from such high volume manufacturers.

Still a bit disappointed in the license income, only 300k. Assuming they receive a conservative 2 cts per sold product, this is only 15 mln products sold by murata, avx, tdk, cde together.

Do I miss something ?

Company value is currently 0.025gbp*420mln shares=10.5 mln
1.9mln sales * 0.5 (xchange rate) * 0.55 gross margin = 0.522 mln (sales)
0.3 mln license fees.

Besides this:
Debt free
Strong licenses present
Showing yoy growth
Expanding licensees
I also think the customer base is broadening and more stable (not only depending on Spire for example)
Installing production capacity
3 Volt is on its way
No surprises in earnings.

Decided to keep my shares for a longer period, future is looking bright. This is only a matter of execution (ramp up). The margins and the growing sales show that the products are good.

Looks like they have a repeating sales and license income. That is a good baseline to expand further.

Margins are very high, nice !

They are building up trust. Should reflect in shareprice.

Jameshinvest, normally also engineers will need to install and support start up. But maybe they can alsowork with remote. Lets see.

Just read in the news that international travellers to Australia need to go in self quarantaine for two weeks. This could have influence on the 2nd shipment of equipment + transfer of Murata line.

Sorry, 7000 buses was other recall in one report.

Oeps...also 7000 buses (besides the 2900 trucks):

https://www.truckpartsandservice.com/commercial-truck-dealer-news/safety-recall-report-01-06-2020/

This is really nasty...

And this one is really interesting:

https://static.nhtsa.gov/odi/rcl/2018/RCRIT-18V116-9082.pdf

The supercap is replaced by a normal battery....

This might explain why truckstart is postponed by Cap-XX. Can imagine that the truck makers are a bit hesitating to use them.

Is this the same problem or a different one ?

https://static.nhtsa.gov/odi/rcl/2018/RCAK-18E093-3095.pdf

By the way, also competitor vehicle is mentioned, this means not only Daimler is recalled..