Verditek Share Discussion Threads

[astralvision] 11/3/2022 13:59

I think investors will only count orders that have actually been paid for, given the number of false orders over the last few years!

[astralvision] 11/3/2022 12:42

Looks a good development.Wonder what the sales value can be to VDTK?

[dubois] 11/3/2022 09:54

From Sandys on LSE

New Metro/Verditek tile

hxxps://www.metrotile.co.uk/the-new-metrotile-solar-tile-in-association-with-verditek/

[dubois] 10/3/2022 13:45

Maybe they have some good news and that's what is triggering the buying (limited but still buying).We can but hope?

[ddt1455] 10/3/2022 12:46

I have been told they are awaiting auditor sign off, so should be in the next few days

[dubois] 10/3/2022 12:25

Asta - I'd forgotten the sale of ICSI as well. We have been selling to people like Bradclad as, so hopefully they have come up with more orders for us.
All depends on when we get that all important year end update. Can't be too far away.

[astralvision] 10/3/2022 12:11

so the £308k must have been something of a life line. I assume the further £1.75m, as its subject to milestones, is likely to be received over the next few years, assuming those milestones are met.
Re £1.2m loss in first half, I assume they've battened down the hatches and reduced costs together with a modest amount of sales in the second half enables them to continue.
I note in the interims:

During the period, a number of smaller orders were received from the UK roofing industry, distributors of boat power solutions, as well as from clients in the Netherlands, Kenya, Italy, Belgium. It is envisaged that these initial orders will lead to far larger volumes in the second half of 2021.

They did £105K sales in the interim period, perhaps £200K in the second half? As you say, we need that long overdue year end and yerar to date update.
C'mon Rob, spill the beans!

[astralvision] 10/3/2022 12:06

dubois
I forget the following, which does improve the situation:

Verditek Plc (AIM:VDTK), the international green technology company that develops, manufactures and sells lightweight solar panels, is pleased to announce the completion of the sale of Industrial Climate Solutions Inc ("ICSI")* on 1 February 2022, in which the Company held a 10.56% stake, to Baker Hughes Energy Services Canada, Inc. An initial payment of approximately GBP308,000 was received by the Company in line with the size of its holding.

The initial consideration was received in cash on 2 February 2022 and further contingent proceeds to the Company of up to approximately CAD 3 million (c. GBP1.75 million) may arise dependent upon certain milestones being met. The Directors are taking a prudent view on the likelihood of further receipts, subject to the requirements of relevant accounting standards. The Company will therefore recognise fair value of its investment of approximately GBP0.9 million in its statement of financial position at 31 December 2021. This valuation is subject to auditor review.

[dubois] 10/3/2022 12:05

Astra, what you say is logical. However, if it was correct then they would have run out of cash by end of November. We are now well into March and there has been no call for further cash. The money has to be coming from somewhere. Hopefully a year end update will cover everything we are waiting for news on.

[astralvision] 10/3/2022 11:34

Hi DuboisThey had cash of c £1m at half way stage, inc the £100k received after the interims.They lost £1.2m in first 6 months of last year.Now we're approaching 9 months since end of June, we've had no orders and no trading updates. They must be running on fumes.The trouble with a lot of smaller orders is you need a 1,000 1KW orders for a MW.They need to be selling MW quantities, they ain't shifting that many small orders otherwise we would have heard somethingimo

[dubois] 10/3/2022 11:26

Astra, I still think they are ok for funds and are running the business on lots of smaller orders. Hopefully an update soon?

[astralvision] 10/3/2022 10:45

All sounds great ddt, but they must be running on fumes right now.Current situation looks like next to no cash and no orders.If they do get orders, they need cash to fund them.No word from our guys on 2021 performance.I'm amazed they're still going tbh.

[ddt1455] 10/3/2022 09:17

The world is surely waking up to solar panels now. If they can’t fill the order books now they never will. I do think this share will rock this year in a positive way. If they could commercialise the Paragraf developed solar panels; apply a patent and then license out, we are looking at a billion dollar company. Okay; let’s not get carried away but always the optimist

[dubois] 10/3/2022 09:09

Interesting buys this morning. Waking up?

[chawkers] 04/3/2022 14:36

Tried and tested maxim - never throw good money after bad...

[ddt1455] 04/3/2022 13:53

There are moments when you need to mitigate losses. I believe now would be a good time to buy in and hope for good YE results.

[chawkers] 25/2/2022 09:22

SP below 2p.VDTK now truly a penny stock!

[astralvision] 10/2/2022 10:31

They've dispensed with the January TU, don't blame them! Has Rob got a cunning plan up his sleeve?!!!

[naplion] 10/2/2022 10:27

well , there seem to be a buyer in the market for these ...

[astralvision] 03/2/2022 12:51

Real coincidence that the money received today is just about the same value at the £300k worth of panels nicked last June.Did they ever update us on that?....

[astralvision] 03/2/2022 12:44

Think all today does is provide some liquidity for investors to exit.Needs some decent orders, not a month or two cash, welcome as that is.

[meijiman] 03/2/2022 12:41

If the company read the boards then the concerns raised by Chawkers should be addressed as it will make people reluctant to buy into the story..never mind concerns about the financial viability of the company.

[weyweyumfozo] 03/2/2022 12:18

From the April Fools Day RNS last year:

"After several months of research, the Company is now embarking on the production of a more technically advanced panel that is expected to produce 350 watts per panel. These second generation panels are using far more efficient cells and, because both the power rating has gone up by more than 10% and certain other components are being used in the new panel, new certification is required. The new certification we are aiming for should also cover a wider range of tests and enable wider distribution in more international markets. This process which includes ISO9001 accreditation has recently commenced, and full certification is expected in the second half of the year."

Apologies if I've missed it, but have Verditek received this certification yet?