will it ever recover to the 38p i paid for them??

I can feel your pain Keith - I bought at 37p. I'm going to hold for at least a couple of months and keep my fingers crossed - no stop loss strategy for me for these shares!

i didnt have a stop loss either, but i will in future!!

keith,

Very wise IMHO.

Sadly this was ramped on ADVFN, and as a result, some people like yourself bought in at the top, just before the retrace.

It would appear that all is not as rosy as it was presented three months ago, and the initial ULD's were overweight! Not a good start, and doesn't inspire confidence.

It would appear that deals were not as close as alluded to on the BB either.

In order for ARX to reverse the slide, I do feel they will need to sign a revenue earning deal, and that MAY be some way off yet.

To be sure it will bottom, but not sure when, or at what price.

Hope your investment wasn't too large, and good luck with your future investments!

keith,

The chart looks a bit grim, and the next support is at 21p, then 20p, then it would be unchartered territory, IMHO.

had a close look at the pictures on arx websight. was not impressed.
In at 38. Cut my losses {50%} Got rid on Thursday.

the big jump in the price of oil is good news for ARX with their lightwight containers.

aldwick,

longer term maybe, but i think airlines hedge their fuel, so maybe not in the short term.

i would like to see the saving quantified, ie if a 747 with ARX ULd's flies from london to New York, what is the uel saving?

Does anyone have any idea?

this is one of those companies that will either go ballistic or bust. the reality is that if their boxes are adopted by any of the majors, there will no doubt be a cascade effect with others joining suit.

I am still in two minds about investing but am likely to put cash in after the first contact (albeit at a higher price) that take an outright punt on the outcome of the trials.

any other thoughts would be appreciated....

proptrade,

A sensible approach in my opinion.

Brokers note


https://www.h-l.co.uk/live/newsletters/AIMMAY04.pdf

copy and paste the link into the address bar

can't find the web site,can you give a me a web site link,please.

copy and paste the link into the address bar

Its a pdf file of a the May copy of Hargreaves Lansdown 'AIM Insight' Issue number 84

Its a pdf download and opens with acrobat.

I noticed someone have posted the article on the adfvn BB as well

I,m still watching proptrade

another brokers note dated 14 May


http://s11.yousendit.com/d.aspx?id=62B2BAF9218A1CE2DDBA81D933568477

can anyone confirm that the AGM is tomorrow at 10am?

yes its tomorrow

here's the agm...sounds positive - i bouught at the top...but will hold,and follow with a view to buying more...

RNS Number:8858Y
AeroBox plc
20 May 2004


AEROBOX PLC
('AeroBox' or the 'Company')

CHAIRMAN'S AGM TRADING UPDATE

Highlights

* Trial results are very impressive - no structural failures in over 5,000
flights.

* Initial order of 100 ULDs (Unit Loading Devices) to Aer Lingus almost
completed.

* Deliveries commenced to Virgin Atlantic.

* Actively refrigerated prototype developed jointly with Kelvin
Technologies and submitted for initial testing with a prospective customer.

* Phase 1 of new manufacturing facility opened in New Mexico; metal bases
now manufactured in-house.

* Regulatory approval received for products, systems, manuals, production
facilities and support facilities in the USA and UK.

* Cash balances at 18 May 2004 amounted to 2 million.

Commenting on prospects, David Sebire, Chairman, said:

'Although airline trials are now expected to take six to nine months, the low
damage levels reported from airline trials are very impressive and clearly
demonstrate that the robustness of the AeroBox will improve service reliability
for airlines. The resulting financial cost savings to airlines are a compelling
argument for the AeroBox when many airlines are performing detailed reviews to
reduce their costs and improve service efficiency and reliability. The Board of
AeroBox is confident that the excellent trial results and current industry
interest will result in significant orders for the AeroBox as full production
comes fully on stream at the new manufacturing plant in the second half of
2004.'

Enquiries:

David Sebire Chairman, AeroBox plc
Richard Scott Finance Director, AeroBox plc

David Bick/Trevor Phillips
Holborn +44 20 7929 5599

Jeremy Porter
Seymour Pierce +44 20 7107 8000

CHAIRMAN'S AGM TRADING UPDATE

At the Annual General Meeting at 10am this morning, David Sebire will say:

Review of Operations

During airline trials over the last eight months, AeroBox air containers have
flown over 5,000 flights. This is equivalent to over 30 years of normal flight
operations. There have been six reports of minor cosmetic damage. There have
been no reports of structural damage to an AeroBox from everyday handling that
would result in an AeroBox not being airworthy. As part of testing for FAA
certification, an AeroBox has remained structurally sound when loaded to three
times the normal weight permitted within an aeroplane with over 25% of the
structural panels cut away.

AeroBox will shortly complete the shipment of the first 100 containers ordered
by Aer Lingus. AeroBox has also commenced shipments to Virgin Atlantic. The
Company anticipates further orders but timing can never be certain. Further
announcements will be made as appropriate.

Following certification by the Federal Aviation Administration ('FAA') in March
2004, the new AKE3 AeroBox has now been certified by the UK Civil Aviation
Authority on behalf of the new European Aviation Safety Authority ('EASA'). EASA
has now superseded many of the responsibilities of the Joint Aviation Authority
('JAA') in respect of European Union countries. AeroBox has just applied to the
FAA for certification of the new AKE2 container. As our manufacturing subsidiary
Aerospace Composite Structures ('ACS') is resident in the USA, it is subject to
routine inspections by the FAA that cover systems, manuals, processes and
production facilities as well as products. Relationships with the main
regulatory authorities are good and the application process is becoming very
streamlined.

As mentioned in my recent Chairman's Statement, our strategic partnership with
Kelvin Technologies Inc has accelerated the development of a refrigerated air
cargo container that actively controls product temperature for use by the
pharmaceutical, food and related industries. A prototype has now been produced
and is being tested by a potential customer. Once we have received initial
feedback, we will manufacture a further batch of prototypes for extended trials.

ACS started operating at its new manufacturing facility in Rio Rancho, New
Mexico, during April. These new premises have been inspected by the FAA. Phase 1
of the implementation has been completed. ACS now manufactures the aluminium
base in house and it is no longer reliant on a competitor. The second stage is
to develop a production version of the Edge Forming Machine ('EFM2') that
enables AeroBox to form flat composite panels into the ULD shape. The first EFM2
is expected to be installed in early June and commissioned into full production
in late July. The third and final stage will be to produce the flat composite
panels in-house rather than source them from a supplier in Germany. This is
scheduled to occur in September 2004. Once all three stages are complete, the
new plant will allow AeroBox to manufacture between 6,000 and 15,000 ULDs per
annum depending upon the number of shifts implemented.
As well as producing ULDs, the plant will produce composite panels for other
markets such as automotive, construction and the military. The total demand for
composite panels in the USA is estimated to be worth around $3 billion per
annum. ACS will concentrate on value added applications that will use the
expertise it has developed for the aviation and pharmaceutical markets.

Finance

The group had cash balances of 2 million as at 18 May 2004. Funding
requirements will increase as production capacity and the order pipeline come
fully on stream over the rest of the year. However, at the same time
implementation risks and uncertainties decrease and the group should have access
to debt markets for a significant proportion of its funding requirements. Orders
from good covenant airlines both confirm the business model and provide the
credit enhancement to increase the availability of sales based debt and lease
finance to the group, although other methods of finance will be explored by the
Company to fund the expansion of the group into refrigerated ULDs and panel
production. Current cash resources will fund the initial work this summer on
prototypes to gauge market demand from key prospective customers.

Future Plans and Prospects

2004 will be another year of development and investment in new products,
production processes, manufacturing capacity and sales channels. This will
provide the foundation for 2005, which is expected to be the first full year of
significant sales volumes.

As the Company continues to focus on its core business, ACS engineers continue
to explore opportunities to make additional use of its composites and advanced
composite technology.
By the end of 2004 ACS plans to:

* establish its position as a major supplier of LD3 containers to the airline
industry;

* develop and certify additional type lower deck units;

* enter the market place for temperature sensitive products;

* complete its manufacturing transition to automated production from raw
materials; and

* identify opportunities for application of its composite panels to other
industries.

Our current business plan sets out a significant growth strategy for the group
based upon three business areas that all rely upon our core expertise in
applying advanced composite technology.

The Board of AeroBox is confident that the hard work during 2003 and 2004 on the
introduction of the original product into trials with many world airlines will
be rewarded by substantial sales. Although airline trials are now expected to
take six to nine months, the low damage levels reported from airline trials are
very impressive and clearly demonstrate that the robustness of the AeroBox will
improve service reliability for airlines. The resulting financial cost savings
to airlines are a compelling argument for the AeroBox when many airlines are
performing detailed reviews to reduce their costs and improve service efficiency
and reliability. The Board of AeroBox is confident that the excellent trial
results and current industry interest will result in significant orders for the
AeroBox as full production comes fully on stream at the new manufacturing plant
in the second half of 2004.

David Sebire
Chairman
20 May 2004

Dave,

Thanks for posting that.

Well, I read that as reasonably positive, and I now believe that, in the longer term ARX may well turn out to be a sucessful company.

The product does seem to perform as expected, and I do think the referigerated ULD has enormous potential personally, providing of course that thay can develop it in order to sell it at a competitive price.

Short term though, the bear inside me focussed on one sentence;

----------------------------
"The Company anticipates further orders but timing can never be certain. Further announcements will be made as appropriate".
----------------------------

So no further orders in the pipeline then?

I wonder how likely a dilutive fundraising is?

On the basis of no further orders and only 2 million in the bank, I think it's on the watchlist for now.

This is a post on advfnBB by someone who attended the agm this morning

"
pyglet - 20 May'04 - 15:35 - 1051 of 1057

OK Guys here was my perspective of how the AGM went.

The meeting started promptly and ther were approx 25 shareholders there.
All the directors were there:
David Sebire - Chairman
Robert Bushman - CEO
Richard Scott - Finance Director
Steven Alterman - Non exec Direc
Anthony Leon - Non Exec Direc

All 11 resoulutions were proposed and agreed in about 15 minutes.

The Chairman then read out a precis version of this mornings RNS epmhasising that they were happy with where they were at the present time and were extremely confident of orders in the next few months.
FAA approval has been applied for the AKE2 and that is expected to be approved within 30 days.
Deliveries have commenced to Virgin and 250 have been delivered so far - all from their European operations.
It is expected that the New Mexico plant will be fully operational in Oct 04.
Whilst they initially said that trials would take 3 months they have walked back from that and ststed that it will take 6-9 months from when that particular airline started it's own trial.
Work has begun in building and testing the refrigeration boxes in conjunction with Kelvin for an undisclosed prospective client and trials are going well - the weight of these boxes is 300kg but weight is not a problem as the advantages of these refrigeration boxes far outweigh the increased weight.

A question came from the floor asking whether there were any other competeitors in this market with the same sort of material to which the board said they didn't think so (more later).
Another question was asked about further applications to which RB said that in the background there are lots of applications ie Trucks, shipping and panels for various applications and he believed that this could in fact be a bigger market than the ULDs, but he stressed it was important to get the core of the business up and running before they intended to diversify.

The meeting closed and then there was informal banter. I collared Robert Bushman who is enormously enthusiastic and is strongly convinced of aeroboxes future. He said that come this time next year it will be a whole new ball game.

He highlighted some of the difficulties that he has come up against in the trials - Quantas would like a window in the ULD. Delta airlines would like the ULDs configured so that the base is able to be picked up with a fork lift truck. BA have said come back when the ULDs are below 90kg (the AKE2 is 83 KG). The current one that Virgin has signed up and has had 250 delivered is 93 kg and they too are waiting for the lighter version.

There has been problems getting approvals for the ULD to be certified because of its collapsible nature but that hurdle has now been overcome and he went into detail about the politics they have and keep encountering beween the various flight authorities and regulators - the politics of the FAA, the European equivalent red tape at Brussels but all these hurdles have been seemingly negotiated now.

I mentioned to Robert Bushman have you heard of 3DM worldwide as they are into the "plastic are stonger than steel" area. He replied that they had a meeting with them yesterday and that if there was to be any collaboration in the future then it may be under some sort of licensing agreement - but was impressed with 3DM as a company.
The Chairman had said in the AGM proper that as he and Richard were new guys they were still unable to purchase any shares.

I asked him at the end of the meeting whether he was going to buy any and he would like to but the board will not let him as he is privvy to some price sensitive information not yet in the public domain and that presently the share price is ludicrous!!

All in all it was good meeting and I came away suitably impressed that these guys know what they are doing and are working hard to get aerobox off the ground(excuse the pun). They seem totally committed and I was mightily impressed with the enthusiasm of them all and in particular Richard Scott and Bob Bushman."