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Not sure what number it comes under but if you mean current trading for this year 22/23 it's expected to become ebit positive & turning cash positive in the 2nd half of the year.
I'm expecting indications that all is on track to achieve this. As for last years results ending June 22 hopefully they're at least inline with forecasts and provide confidence of achieving the predicted profitable numbers for this financial year.
I'm expecting good news but the sp however who knows, that is down to the mysterious workings of aim.
Cpx seem to have got themselves boxed in to the prizmatic market for IoT which in itself could become substantial. They were always looking for partners to develop the products that the likes of Skeleton, Maxwell & Ioxus seem to have gained market dominance with. Hopefully they will achieve some significant sales with the rebadged Ioxus products but it leaves a slightly confusing view of their status as a developer of supercapacitors.
It seems unlikely they will produce their own products for this market soon unless the tie-up with Ionic will address this so ultimately as they grow the IoT side of the business the only other way to expand into these markets will be through mergers & acquisitions. Ioxus or XS Power Batteries would seem an obvious candidate but the value of cpx will come down to the worth of its prizmatic business and IP which isn't holding back Skeleton so long term how valuable it is will be up for debate.
I think good progress with the current business can get this to 20p but a strategic shift such as this Siemens agreement will be required to get to the next level. I'm not sure how Ionic fits into all of this maybe they will surprise but it does look like the whole supercapacitor market is going to transform and become much bigger which will be good for cpx.
Regarding the discussion on biopsy data in this thread AS did say they would have this as part of the data package. He also mentioned that if a patient left the trial due to becoming too unwell or sadly having deceased then they have left the trial and biopsy data would not be applicable from those patients. Unless I've misunderstood I believe this possibly indicates that they are in possession of biopsy data from patients that will continue to the end of phase 1a.
Looks like a lot sold today just because of the extended trial date. I can understand some people buying in on the strong prospect of a near term postive outcome to the court case.
The real driver here though has got to be becoming profitable on the back of the business from the murata lines producing world leading products for a rapidly growing IoT market. Then there are all the other products I'm sure lth's here are fully aware of the potential and will hopefully soon be rewarded irrespective of the Maxwell case which was always a bonus and certainly not fundamental to the success cpx are now achieving. As mentioned September results will provide the news on progress that matters.
Here's the notes from the case a default judgment was made prior to a trial which was due in the December of the same year. For some reason ioxus just gave up, lost the case then sold out to xs batteries.
I don't see this happening with maxwell so if no deal is agreed it will drag on. I'm sure we'd all prefer an out of court settlement just to put this to bed and get the sp moving up to where it should be. Even a small damages award combined with protecting the IP would be a better outcome than months and months of uncertainty.
ORDER granting [85] Motion for Default Judgment in favor of Cap-XX, Ltd. against Ioxus, Inc. The Court: a. finding that Defendant is liable for infringing the patents-in-suit; b. awarding Plaintiff compensatory damages in the amount of $1,237,717.37 based on a reasonable royalty under 35 U.S.C. ? 284; c. awarding Plaintiff enhanced damages in the amount of $3,713,152.11 based on the trebling of Plaintiffs actual damages under 35 U.S.C. ? 284 for Defendant's willful infringement; d. finding that this case is "exceptional" and award Plaintiff its attorney fees under 35 U.S.C. ? 285; e. granting Plaintiff leave to submit a motion for attorney fees under Rule 54(d)(2) of the Federal Rules of Civil Procedure within fourteen (14) days of the Court's Entry of Default Judgment. (CASE CLOSED) Signed by Judge Colm F. Connolly on 8/5/2020.
You might be right there Mer XS Power Batteries acquired all their assets therefore Ioxus no longer existed for cpx to chase payment. Maybe there was a perception that the takeover was as a result of financial difficulties. I seemed to recall Ioxus not being in a position to continue fighting the case therefore a judgement was made prior to any court hearing. Anyway it was a surprise when the distribution agreement was announced out of the blue, let's hope of similar unexpected news with maxwell!
Yes we need a good update in September so that the move towards profitability becomes the main focus for sp growth and this court case becomes background noise with little interference.
Thinking back to Ioxus I believe they went bankrupt before the case ended thereby paving the way for a judges ruling to close the case and awarding in cpx's favour. There appears no sign of Maxwell conceding so as Open says with the option to appeal this could drag on for a long time.
The legal funding now seems a smart move and the only real winners here may end up being the lawyers but who knows. The sooner the shackles are removed the better and as we understand from the business updates progress is going really well so let's hope the numbers prove this to be the case.
Me too first purchase May 2015 at 3.95p and many more since not a single sell which with hindsight would of been very profitable. The Murata deal has completely transformed this company in my opinion at a time when IoT applications are gaining momentum and the Ioxus deal has provided the range of products that used to be promised with signed MoU's and all the other potential deals that never materialised.
The company is in the position if not better than it should of been years ago just need the SP to catch up and adjust to this new level. All this even without the Maxwell Court case success & if that happens it could release a very tightly coiled spring.
That's not correct since last years results update it was H2 2021 then pushed back to end of 2021, then Q1 2022 then during summer 2022 and finally by the end of summer 2022.
Delays were due to semi conducter shortages, supplier delays, covid restrictions impacting test engineer availability and the the request from the FDA for additional data.
I suppose from the end of 2021 6months of covid delays plus the FDA delays takes us to the end of summer 2022 timeframe. All frustrating I know but it is what it is and the new date of end of summer 2022 has been clearly communicated which is why I'm expecting end of October at the latest (not withstanding any new unforseen delays).
Yes I did note that and took it to mean from their end of last year timescale of which 6 months has been and gone so they couldn't even get that question correct after the event. Also noted they are working 3 shifts and going as fast as they can to get to 230MeV, so I assume this is a 24hr (3x8hr shifts) project at present. They also said last fund raise was sufficient to get them to 230MeV and a further raise would not happen until this milestone is achieved.
I appreciate this is from the avo bod so how long is a piece of string comes to mind but as more and more pieces of the puzzle are completed there will come a time when even they can accurately predict how long it will take for the last piece.
I'm still hopeful end of October at the latest and any sooner is a bonus. They obviously don't know so give a timescale with several interpretations. The alternative of giving the worst case scenario is probably not an option but you'd think the investors handing over the money would be given a more precise picture of progress and know what is going on far more than we do.
As I've said before though from these low levels if it is completed soon the value of what they have achieved is worth much more and although unfortunately we don't get warrants we have been able to buy lower than the 25p fund raises.
I hope so as although have a ton of these just bought another £4k worth to try and make up for a loss I've just realized over at abdx what a load ****e that has been.
Whilst the sp here seems stuck at present as a business with all the customer wins and progress being made it feels so much more tangible than the other pie in the sky aim rubbish.
Absolutely Bimini but having given this more thought I think they might be working to a timeframe window where 230MeV could happen any time between the end of August to the end of October which is conveniently encapsulated within the term Summer. I can't see any other reason for being so wishy washy vague considering all that has gone on in the past. A little optimistic perhaps but if correct we may hear good news before the end of this month although a more realistic view would be as mentioned already on this board end of September. LTH's here will be very deserving of seeing this finally being switched on and if it is in the next few weeks enjoy reading the RNS headlined '230MeV achieved ahead of schedule'.
Couldn't agree more Mer400 this is becoming a very good company unlike most aim rubbish. It's taken years and certainly been frustrating but so much is falling into place $100m manufacturing facility, world leading products for IoT applications, numerous patents, Ioxus deal to break into new markets and so much more at some point this will turn a corner a race ahead I'm sure.
Yes I agree although was hoping this calendar year would see a much higher sp but it looks like 12 months or so but the gains could be quite significant. The rebadged ioxus products could make a huge difference to the numbers and once this takes off the amount of positive news to look forwards to will hopefully propel the sp to new highs well into the 20's.
Would be nice for a settlement but I wouldn't be surprised to see maxwell let this run to the court trial and if unsuccessful appeal the decision so that it drags on.
Thankfully cpx are making good progress away from this and once we hear of the numbers being achieved the sp should also reflect this progress. Unless we hear of significant new contract wins or a court settlement it looks like the next major news will be the result of the court trial then the interim results next year. May require a bit more patience here.
Settlement would definitely be preferable, wonder if we will be told the outcome of the summary judgment as we never found out the result of the Markman Hearing which is also a ruling by a judge.
Not sure about Monday as reply was due 8/5/22 (US date) being Friday 5th not Monday 8th