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Well it’s pretty clear there is a breach, albeit a technical one-probably interest covenants.
This is heading towards administration in my opinion with Carlyle taking Southend-the bondholders will likely get nothing.
Get out while you can-it’s toast
Sorry mate-I missed that so -apologies.I have no connection and I’m under restrictive covenant in the space anyway.
I learned a lot about the space from a standing start a few years ago and sold a company that was in the applications side.
What did I learn?Johnson Matthey exiting the space a few years ago was a massive red flag-highlighting the lack of margin in cell manufacture and the fact that billions were being spent on chemistry innovation.
When I was selling, I remember one of the suitors saying very clearly that there were good pickings to be had in the sector but you had to be smart.He was absolutely right-cells constitute a high proportion of the bill of materials in most applications so even further up the supply chain, margins were pretty low-in our case around 25pc
So AMTE in my opinion fell into the trap of trying to manufacture in a low margin environment, looking to sell into notoriously difficult automotive and energy storage OEMs-therein lies the fundamental problem with this company.
Anyway good luck all-there is nothing here for equity
He’s a natural loser-and can’t stand the fact that someone without any conflict in their head has called this car crash right.All the way through.
Rampers don’t like hearing the truth-their operation relies on fantasy and FOMO-and boy has joe80 got nothing spades.Report me to the FCA Joe-they wil simply agree I was right
Well I know a lot about batteries, applications and supply chains-and I can tell you BV was a joke and to suggest Amte were smart in having a facility in the far north is wrong-why are Envision next door to Nissan?
Automotive supply chains tend to be very close knit post covid-and nobody lives up in Caithness!
This company failed because its business plan was rubbish-plain and simple.To blame external players,like the government, is wrong.Across the world billions are being poured into cell and chemistry development-and AMTE could even raise £4m!That tells you all you need to know
I know a bit about BV as it’s close to me-a total fantasy.No chemistry, no customers, no facility-just a load of hope on some derelict land.The key players splurged money like you wouldn’t believe on Porsches and high living.The government played a blinder-show us the commercial viability and we will back-answer came there on.As you know, Envision are just down the road and are expanding their facility because they feed Nissan
FRP should be allowed to do their job-they will be preparing a report which will cover director conduct
Sadly there is no box on the report forms for being stupid
Let’s face it, they have been looking for £4m for nearly 8 months-and got nowhere because of the state of the balance sheet and the revised plan which I thought was poor-and I told them at the time
FRP are pretty good operators but you will recall their main aim is to get the best deal for creditors-and there are plenty here.
Equity is at the bottom of the pile
Im afraid its 99.9pc certain the shareholders will get nothing.Appalling as I’ve been there myself.Best thing to do is avoid wasting energy and find something a bit more productive
Note again ‘sale of business and assets’ in RNS-not sale of the company.Torched.
Having seen the revised plan I’m not surprised it’s come to this-which is why I have repeatedly called it out.The directors, tucked away in the far north of Scotland, really had no idea about the markets they were planning to ‘exploit’
This was a company with some interesting but not commercialised IP-that’s about it
As for your foul language, I’m sure your mother wouldn’t approve of it or losing all your pocket money
It’s a pre pack.I said after the last RNS to look at the wording of ‘interest in business and assets of the company’ Note it did not say ‘interest in the company’
Subtle but relevant-I reckon the IP and that’s it.Rest torched.
It’s a shell-if it’s not, prove it.Im all ears
As for the shares, how many of the 61pc are ‘sweet equity’ is free??
You may say that but big was right, you loser.
Maybe listen to an alternative view next time
No contracts, no volume capability, miles from anywhere and a pipedream in Dundee-only difference from BV was they had some interesting chemistry.
The valuation on IPO was a joke-and as I said a few days ago, it’s a trade and asset deal with the secured creditors getting all the value.
Nothing to do with the government-just a company with a crap plan in a low margin sector.I got pilloried for saying all this-thankfully they suspended the shares to stop the insane ramping
Horis-AMTE had a terrible business plan.Trust me-it was unfundable if you know anything about the sector
Sorry to see that for all of you-onwards and upwards
You know you’ve won the argument when the ‘why are you here?’ is trotted out
I’m here because I’m waiting to see if he can pull of the Sudanese deal
And by the way, was that RNS you posted written by David Brent or a 5 year old ?
That’s right-hard facts
Now you tell me why the market cap is £7m when there is nothing in it other than a potential deal.Thats how spacs and RTOs operate and how promoters get free equity
I met Edelson because I was looking at reversing something into one of his shells.He had quite a few-hence his nickname ‘shellmeister’
He’s well connected -•look at Knutsford for an example of a shell going to £1bn of value with nothing in it.Of course, investors lost £1bn of value as a result
The point is this is a shell-it has £150k of net assets and a £7m market cap.The only conclusion you can come to is that the rest is hope of a deal transpiring.If it doesn’t, then £7m of value will evaporate.
You can criticise all you like-I just deal in hard facts and I challenge anyone on here to dispute what I have said above
I met Edelson 24 years ago.Ive also met the chairman and at the time it was a Kazakstan deal-ask him about it.
Whether you agree with me or not, the facts are the NAV at year end was c £150k and the current market cap is c£7m.Do you agree?Classic shell with hope baked in-in this case Sudan.Well trailed of course but the market for shells and spacs collapsed 3 years ago.They were all the rage 25 years ago and then 5 years ago-enough time in between for a new generation of punters to back them.
Now go and check the numbers and do let us all know if you agree or disagree thanks.