Surface Transforms Share Discussion Threads

[cheese666] 22/11/2023 10:41

Toffeeman - I'm sure plenty have. It's not in our power as to which ones they choose to answer unfortunately.

Unless things are very different to previous presentations, I suspect we want see too much self analysis or contrition from the board.

[toffeeman] 22/11/2023 10:23

Anyone asked awkward questions for the presentation at 11.00?

[cyberbub] 22/11/2023 09:44

Thanks quemaster. How much longer does the IP on the ceramic last, does anyone know?

[amt] 21/11/2023 22:26

They have only got a month to announce more promised orders. Hope somebody questions them about that promise tomorrow.
It will be interesting to see if they give an update on sales so far in November.

[quemaster] 21/11/2023 20:38

I might not be the best person to answer your questions cyberhub as I've been to optimistic in the past but here goes.

a) The major problem with the furnaces seem to be over after working properly since the start of Q2 but a number of smaller problems in other parts of the production line occurring raises doubts. Having the fundraising money to accelerate the expansion process quickly should also create more resilience in the production line.

b) New positions put in place to monitor different parts of the production line should reduce the chance of breakdowns but yet to be proved.

c) Unlikely as it takes a year plus to engineer a brake onto a model, as for new potential models I think it would take more than recent events as much of the machinery is new and unique to the STs process making teething problems more likely which the OEMs seem to understand, they also want to use the best brakes on the market.

As for a potential predator, definitely a worry due to the size of the order book and the value of getting a safety critical product into the global supply chain. Someone starting from scratch would have to go through many years of testing and engineering to get to where we are.

Before this stage they would also have to develop a carbon ceramic material to match ours, the CCF technology was developed by ICI before the scientists that invented it bought the IP and started the original Surface Transforms, it would be interesting to know how much time and money ICI threw at this before we acquired it.

[cyberbub] 21/11/2023 00:26

I had a holding here several years ago but abandoned it when it was clear that things were moving too slowly. I've seen the recent plummet on bad news and am wondering whether there's an opportunity... Certainly the IP, and the large contracts with large customers signed since I was a holder, are very encouraging, and the multibagger potential is clear even after the latest dilution.I suppose the three main problems are (a) do we think the latest manufacturing problems are genuinely over now, (b) can we trust the management's competence in general given their recent fiascos, and (c) will some of the big customers walk away due to the real/perceived unreliability?Surely at a measly valuation of less than $50M there must be industry whoppers sniffing around the small fry here? Look at how many takeovers there have been in London recently, many at hefty premiums by American companies.Answers on a postcard LOL

[amanitaangelicus] 20/11/2023 13:56

Yes Quemaster ...they were dreaming ...clearly. Might be able to do that going fwd but the jury.s out. Need hard evidence it.s working. Kp checking tor the jobs they have open - you might glean something from that. Need to pay to get decent staff. Essential in my eyes.

[bones] 20/11/2023 13:11

FTM, the guillotine is certainly primed. The cat is losing lives, etc. Certainly D Bundred was a serial optimist but he at least puts his money in regularly (even if he can afford easily).

Let’s get this vital next stage worked through to profitability without further drama and some calm may be restored. As someone posted a while back, there needs to be care taken with the personal relationships that the majors have with SCE. Booting out their main contact points might be counter-productive if, as we are assured by the board, the customers are fully aware and understand the problems.

It’s also unlikely that the brake discs are the only item in the production supply chain of those vehicles that are in some way held up. It would be a fiction to say otherwise. Cars of all shapes and sizes are still heavily delayed coming off production lines worldwide because of this.

[pinkfoot2] 20/11/2023 12:14

Correct Quemaster-spot on

[fevertreeman] 20/11/2023 11:41

So no heads to roll....? They signed off the Interims,and Bundred trumpeted about problems behind, figs ok, cash ok....

[quemaster] 20/11/2023 10:50

As far as the cash is concerned the idea was they could pay for capacity expansion out of profits going forward, this would of left year end cash in 2024 very tight and they would also have to time capex spending carefully, this was always going to be a tightrope walk but became impossible when the multiple smaller issues raised their heads. Now that a cash raise has become necessary they can advance expansion as quickly as possible hopefully adding some resilience to the production line.

[fevertreeman] 20/11/2023 10:44

David Dosh.,...not surprised that Johnson declined, given high likelihood that things could have turned nasty with considerable numbers of s/holders turning up to demand the arrogant clown explain the shambles of last 22 months and especially the outright lies told to s/holders at 27th Sept Interims. I very much doubt he will turn up next year either.

[davidosh] 20/11/2023 10:32

We invited the management team to have a free stand so they could meet shareholders and potential shareholders but they declined as they want to deliver on the pitch and then return to our event next year. There will be hundreds of Mello investors attending the two day conference in Chiswick in London.

There are over 30 companies engaging with investors and it seems perfect timing for the many companies that are currently undervalued by the markets



There are lots of fund managers attending and fab speakers so very worthwhile attending

[quemaster] 20/11/2023 10:23

"The now resolved technical issues" this refers to the new larger energy efficient furnace linings failing in a matter of weeks when they were deigned to last at least 6 months. This problem came up at the end of 2022 and dragged on throughout Q1 but the new solution has been a success with linings lasting more than 6 months. Since then efforts to catch up have been effected by multiple smaller issues.

[quazie12] 20/11/2023 09:58

Cash levels were good on 27th September yet a mere 36 days later the button had clearly been pushed on an emergency raise at 10p ffs. How is this acceptable management on any level ?

[amanitaangelicus] 20/11/2023 09:17

Kennyq52 put him on filter. He's my stalker. His normal handle is Stevedaytrader. Also mimics my name with a lower case a instead of an A. Scouser,Trump admirer, conspiracy loon. Big kid.

[amanitaangelicus] 20/11/2023 08:22

Director of Aim companies? What you doing here bud? Dont believe a word of it.Makes no sense. Anyway, the mkt is now waiting to see if the management can use the money wisely or not, and solve the problems they let build up. Profit taking now ongoing for a while until improvements proven. Ps Pinkfoot only reappeared after the recent rns- has no insider knowledge. Beware

[pinkfoot2] 19/11/2023 22:00

Don’t call me a muppet you parasite

I’ve been a director of several AIM companies-I doubt you have been further than the local pet shop