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Uninvestable

My SCE looking good -at last.Patience is a virtue

Well it’s clear the customer base has every confidence in SCE and their ability to execute-excellent contract win

It was a diesel car according to the fire brigade

So let’s make things that don’t make any margin-sounds like a plan.Rather like the crazy plan to build a battery plant in Dundee which is at least 300 miles from a car plant which needs cells.Look at nissan and their Envision plant in Sunderland-it’s about 400 yards away

This company is in the mess it is because of a crazy business plan and the new one involving residential batteries is equally flawed.

I’m afraid it’s an uphill battle from here and they are capital light which makes it even more difficult.The only route in my opinion is to licence their IP as soon as possible

No margin in battery cell manufacture

https://www.telegraph.co.uk/business/2023/10/10/world-ev-battery-revolution-through-eyes-goldman-sachs/

No margin in battery cell manufacture

https://www.telegraph.co.uk/business/2023/10/10/world-ev-battery-revolution-through-eyes-goldman-sachs/

Just looked at the Travis Perkins RNS today-they are saying the product market is deflationary which contradicts?

Horrible statement-not sure if it’s cheap or expensive given the backdrop

Is there anything to count?

Give me an example Ian-I have been consistent throughout on this car crash.

I don’t short-never have after watching a mate bankrupt himself by shorting a stock 20 years ago after struggling to close out

Now I’m a clingon-I may be mad but it doesn’t help you as this slides into the abyss.

Book nearly finished-it’s along the lines of The Signs were there, a book dedicated to creative accounting and half truths-I commend it to all

Https://www.telegraph.co.uk/news/2023/10/09/the-russia-iran-axis-is-fomenting-war-in-the-middle-east/

It’s not going to happen-they can’t even sell a few piles of dirt

Unfortunately for you officecat, everything I have said is true-and the market cap confirms it.

Must be nearly £1bn of market cap lost in the last 3 years of vacuous drift from a ‘world class board of directors’ lauded for appointing top lawyers and accountants and not much else

You forgot the confusion over what constitutes cash(lack of) and dirt heaps

We see what we want to see

The problem is accounting with the bonds-currently in long term liabilities in the balance sheet, but they will cross the balance sheet to short term liabilities at the end of 2023.That creates a problem for solvency, and why the market is now focussed on the balance sheet.

Issuing bonds was very attractive for when cash was almost free-but they need rolled over or repaid.The so called ‘lend and pretend’ trade favoured by the likes of Greece

Correct Difranco-why on earth would you rely on the Compensation scheme when you can move the money to another bank?

The roots for this calamity were laid down in 2019 with their capital calculations

I’m always amazed when LTHs describe us naysayers as thick as you have just done.I haven’t lost one penny in this car crash-if we are really thick,what does that make you?

Your enterprise value numbers for the mortgage book are out by a factor of at least 10 for a start.

There will be a run on deposits-I doubt many would want to rely on the Compensation scheme.