Surface Transforms Share Discussion Threads

[thiopia] 07/11/2024 18:39

Looks like the vultures and other 'stakeholders' are circling

"we are reviewing strategic opportunities to bring longer term financial stability to the Company"

[soixanteneufdude] 07/11/2024 18:18

McDuff, just wondered why your company haven't gone into car discs? I'm assuming that aircraft brakes are much higher unit cost so the manufacturing process has been easier make profitable perhaps?

You say it's great product, so is there anything about ST's tech and processes that make it a unique proposition, or can it be easily copied?

[radgimus] 07/11/2024 16:04

Not so. ST are far from alone in this sector of carbon ceramics

[thane of fife] 07/11/2024 15:58

Very sad .... I've known the company from when it was a handful of folk. It started expanding and I think lost it's way, over employing, throwing money away. It should have had better chairman for sure. I'm not surprised it's in this position and I only took a punt on the shares recently. I desperately hope it gets out of this situation because they have a great product and technology....

[washingmachine] 07/11/2024 15:46

My opinion is they are going to de list
Take it private
Will be easier to raise finance
Trade the Shares on JP Jenkins

[bagpuss67] 07/11/2024 15:35

Presumably then ToF the current ST situation is of great intetest to you. What are your thoughts?

[thane of fife] 07/11/2024 15:29

They are not woven and they are not carbon fiber sheets. All the processes fall under this category. I've been involved with for 40+ years...

[taperkick] 07/11/2024 14:16

These sound like they are in same class as ST's:

[thane of fife] 07/11/2024 14:06

The current patents I hold are not expired. The patents for the aircraft brakes have, but we sold them to an overseas customer many years ago. Sorry if I'm being guarded, but I've suffered from infringements in the past, and I'm held to NDA's.

[thane of fife] 07/11/2024 13:44

Thank you Bagpuss..

[supernumerary] 07/11/2024 13:33

ToF - so presumably your patents have now expired? Do you have a link?

[thane of fife] 07/11/2024 13:29

Thank you Bagpuss..

[thane of fife] 07/11/2024 13:20

I and colleagues developed the process and designed a machine to produce 3D matrix preforms in the early nineties. They are in daily use all over the world on aircraft.I have patents also on another process to produce 3D preforms.

[soixanteneufdude] 07/11/2024 13:11

Not correct, the process is patented. No one is making discs like these unless it's some unlicensed Chinese knockoff

[bagpuss67] 07/11/2024 13:06

Thanks MacDuff nice of you to enrol on the site today so as to impart that info to us.

[thane of fife] 07/11/2024 12:57

There is another manufacturer of matrix discs. They have been manufacturing them for at least 20 years.

[soixanteneufdude] 07/11/2024 12:37

From what I understand the discs could only be replaced with inferior chopped fibre discs manufactured to the same dimensions, but there aren't any other manufacturers who are able to create matrix discs. If you consider Porsche for instance, they pride themselves on having superior braking capabilities and it would be a pretty big setback if they couldn't fit ST discs. Also read the racing forums, as those guys love ST discs.

This would have gone belly up years ago if they didn't have a superior product, just a petty that they're struggling to scale manufacturing process up profitably but I still believe it will be one day hence why I still have some faith in my binary play here.

[tomtrudgian] 07/11/2024 12:08

Bagpuss67, the names of the OEMs and the terms of their contracts have never been disclosed. That is quite normal for commercial reasons. However you believe it difficult for OEMs to pull their contracts because the discs are designed into their cars.

How so? Any SCE discs must have had the same standard thickness, diameter, bolt spacings etc to fit callipers in all OEM cars surely? For any after sale retrofits too.

There is, Joe say, no AIM RNS requirement to announce a pulled contract. So what happens if an OEM contract has been pulled? It is bog standard that the development costs already paid to SCE are refundable, if SCE were unable to comply with the contracts. The auditors had of course required sight of the contracts. They reported on the failure of compliance with IFRS 15 in both 2021 and 22. In FY 23 they restated both the 22 and 23 results.

So what’s next? Inevitably claims from secured creditors like employees and the loans from Liverpool City and River Capital. The OEM’s, landlord, unsecured creditors or shareholders will get nothing back.

[thiopia] 07/11/2024 11:36

Ford's Top Supplier (Visteon) Files For Bankruptcy

[thiopia] 07/11/2024 11:34

Many of the Top Tier Global Automakers are used to operating in and around Chapter 11 Bankruptcy protection

[bagpuss67] 07/11/2024 10:06

Joe. Thats one of the few positives here. Given how long the mess has been going on for the OEMs will likely have been looking at contingency plans but it's very difficult for them to pull the contracts as these parts are designed into their cars. In particular one OEM has a substantial amount of orders and might be the one who steps up and helps them get through this. Whether any of the OEMs place future orders having been through this is another matter. But of course that's the least of our worries at the moment

[major courtenay] 07/11/2024 09:58

A poster has previously commented on their knowledge of the (now - ex) chairman. I’d be curious to know if there’s any feedback there as to what happened.

[major courtenay] 07/11/2024 09:55

They’re still churning the stuff out, they just can’t quite break even.

Perfect for someone with deeper pockets to
Pick them up for a song, complete the scaling up, and be laughing all the way to the bank.

[joe say] 07/11/2024 09:50

One surprise to me is that none of the OEM's seemed to have pulled their contracts

Or is that simply because SCE can't afford to pay the RNS fee?