Member Info for winchpete

In my opinion, Bond got out just before it became clear the King has no clothes. The ability to go private will depend on PE being willing to accept that the new strategy can be delivered. The comment about price parity with diesel is very relevant in that respect.

He must be preparing the latest edition of the Daily Mood!

I agree but it continues to fall. Why would PIs still be selling when they could have got out over 80p? Somebody wants it even lower. A closed period and comparatively low summer volumes makes their job easier.

I have been watching the sell patterns for a few weeks. Almost every day follows a similar pattern. Clusters of around 15-20 sells with the same time stamp, mostly in the afternoon, are killing this.

They could have asked Bond, "What will the cost of our 12 stack air cooled 30kW generators be? How does that compare with diesel 30kW generators? In that case, why are you proposing to waste millions developing, testing and putting them through certification?"

I think JW said they had cut cash burn to 4 million per quarter and were looking for further savings by getting rid of some property leases.

Yes. The 24 million order pipe line mentioned around the time of the last placing shot AFC's credibility to pieces and could have destroyed the company if Bond had still been in post.

If the company is nervous about being gate crashed, why didn’t they form a strategic partnership with AFC. They could have provided new equity at a sensible price and locked out competitors. It just doesn’t add up.

A direct, tell like it is presentation. We haven't always had that!

Looks as if 2026, particularly H2, should be very interesting but nothing to give the sp a big boost by clearing the 10p overhang this year.

The previous PE interest makes me slightly uneasy about a low ball offer once positive news about revenue is underway. The PIs might not want to sell but the institutions who benefited from the placings could be tempted.

Yes, but they are subsiding the cost of ammonia.

Looks like no significant revenue until H2 2026.

Garonne, I agree. If the tech is that good, what not buy it while it is cheap or become a strategic partner with a 29% equity stake.

The BoD obviously recognise they have some explaining to do!

Nobody was expecting good H1 results. In the end they were absolutely appalling with a serious possibility of insolvency before October. I defy even the "I told you so" posters to claim they predicted that.

I was hoping there would be at least something to sweeten the pill. The continued secrecy regarding the S&P 500 partner for development of the crackers is inexplicable. As the decision to suspend supplying the Speedy Hire JV and write off those units that already been manufactured played a big part in creating a precarious financial situation, I expected the BoD would have devised a plan to avoid a large, low priced dilution. Disclosure of a credible plan to begin manufacture of the cheaper version of the generators would also help.

In the short term it frequently does. However, you might be lucky this time!

It was desperate! The suspension of sales to the Speedy Hire JV, lack of sales to anyone else and 2.8 million write off meant we were at serious risk going bust in a few months. I am sure whoever is providing the funds is well aware of how needed the cash is and took full advantage in naming their price.

Me likewise. I think it was at the last AGM that a senior manager was asked about raising more funds and was reported as saying that any placing, if needed at all, would be quite small. My worst case scenario was a placing to raise 10 million at 12p. We now have an overhang from Hell with new 'investors' who will probably hit the sell button whenever it reaches 12p.

These units could still have been leased out for some income or cannibalised to make the cheaper units. There was no need to treat them as scrap.

I was willing to minimise dilution by taking part in the Retail Offer but have been told that as I don't live in the UK I can't. Drat!

I also remember from one of the presentations earlier this year that we would be getting 3.5 million in a government grant and 1.5 million from the Speedy Hire JV. No sign of that. The cash in hand at the end of June was a hell of a shock.