http://www.afcenergy.com/

Dawnay, Day Corporate Broking Research Note

Aim Admission Document

Still holding, but not my breath! Could be a while before we see anything really substantial. There again, you never know. I can neither be right nor wrong now!:o)

Dear Agony Aunt,

Several years ago, I became interested in a beautiful girl.
As someone who has been hurt in the past, I thought it prudent to find out as much as I could about her, before making any approach.
She was quite young, but she appeared to know where her future lay and also seemed determined to get there.
She also had a bit of money, which is always nice.
I decided to try my luck and we started to get together, nothing more than friends you understand.
After a while I became more interested, and we started to go steady. We even started to put money together toward our future.
It was soon obvious to me that I was smitten, and things started to really get serious.
It quickly became obvious to me that she could not be rushed, and that although I opened my heart to her (and my wallet) she gave me the impression there were things she was not telling me.
Just latterly she has become more secretive, and I get the impression she is only telling me enough to keep me sweet.
The more I push her to open up to me, the less she does so.
I still trust her, but obviously her secrecy is casting doubt on out relationship.
Trust should surely be a two way thing.
Just latterly our relationship has cooled, and I fear we are drifting apart, in fact I have become interested in a new girl that has moved into the neighborhood.

In fact we (not the new girl) have reached a point where we have agreed to hold a formal meeting in a few weeks where we hope to discuss our future together.
At this meeting I intend to be very forthright and blunt and I hope she will be the same.
If she isn't, I might just walk away.

I am still very fond of her but I am aware that the heart can over rule the head.
What should I do should she still hold back.

Worried of Hull.

Dear Worried,

What you have to ask yourself is, has anything changed.
Underneath, is she still the girl you fell for all those years ago.
From what you tell me, she appears to be growing into maturity, although she is obviously still not fully into adulthood.
As you say, you can't let the heart rule the head.
You have to decide, is this a two way relationship, or is she just out for what she can get.
I think it would be a shame if you split now, especially as you have agreed to a meeting to thrash things out.
My advice is to wait, just a while longer to see if things really develop, but I agree that things can't stay as the are.

Dear Agony Aunt,

Thanks for your advice. I will wait a while longer, although I must admit, that new girl is getting more and more attractive, so I might just start playing around a bit.
At least then I won't left completely high and dry if things don't work out.

Women and shares.
Who can understand either of them.

Very good analogy (well I hope it is!) :-)

Reading the Allenby report I have to agree with those who feel it is not looking very good.
The earnings estimates for the next 2 years, do nothing for the sp, except to knock it downward.
I am not blaming Allenby for this, as their only responsibility is to tell it how they see it.
Pity they did not have more foresight in their last couple of reports that were so way out as to be useless.
I am now more worried about AFC missing the proverbial boat, than not getting there at all.
I am as sure as I can be that the AFC Fuel Cell will go into production this year, but I now feel that sales will be nowhere need as high volume as we were all expecting.
I can see a slow roll out coming.
I know we have all been told, and the evidence has shown that AFC have no competitors in many areas where their technology is concerned, but whilst they are in the testing/none production mode the competition will not be standing idly by.
Strong patents or not, time is ticking by and patents are often infringed.
You only have to look at the number of patents infringements that James Dyson has had to challenge since his cyclone technology got onto the shelves.
At least he got commercial whilst constantly improving the technology.
The other threat is countries like China, a country that puts as much credence in none patent infringements as the Greek people do in paying taxes.
If the AFC system is as good as we all hope, I can't see their patents not being challenged.
Sure they may be as solid as any, but they will be infringed, even to the point of slight alteration, and the longer the none commercialization continues the more vulnerable to these challenges they will be.
Potential customers will as we have already seen start to accept second best, for the pure reason 'Its available'.
AFC management must move very soon or it won't just be the investors that will be saying, 'Why is it taking so long. Has anything gone or going wrong'.

I try and state things as I see them.
No matter how brilliant I think a company or its shares are doing, I think the best part of these BB's are when someone plays devils advocate, putting as many opposite views as they can.
This is with the proviso that they back their posts up with fact, figures or/and well argued views/opinions.
No doubt several on here put me in the de-rampers camp from my posts over the last few weeks.
The truth of the matter is, although I am not panicking (if I was, I would be out)
I admit to being decidedly nervous.
This is because of being in a not knowing period, which must be one of the worse for any investor,
As has been often said on here, either read posts and make your own mind up, or ignore said posts.
At the moment I do take refuge in those posts that tend to reiterate all the good points, and remind me why I invested in the first place, but I hope they do not blind me to the negatives either.
No the fundamentals and reason for investing have not changed, only my holdings that have grown since my first flutter in AFC.
I put far more positives on AFC than negatives, as the only negative I can put, is the lack of info re timescales and the like.
Funny how when money is at risk, we all tend to concentrate on a negative more than a positive.
I suppose the nearer we think we are to that winning line, the more we feel at risk of not reaching it.
Human nature I suppose.

The sp over the last week is not helping matters.

Greek - from your analogy above "Women and shares. Who can understand either of them."

Well I understand that chart!!!

Lol,

Well both have curves, I'm not sure I like the one in the chart though.

Excellent candle today.

I almost made a comment! ;o)

Repayment of Loan from Waste2Tricity

05 March 2012: AFC Energy plc (AIM: AFC), a leading developer of low-cost alkaline fuel cell technology for industrial applications, is pleased to announce that it has received £152,500 in full repayment with associated interest of a loan made to Waste2Tricity Ltd ("W2T") in 2009.

RNS.

Now thats much better. You don't have to read between these lines.

Additional production facility at Dunsfold Park, Surrey, UK.
Enable the increased production of fuel cells with full cartridge assembly.

And at last 'a not that rough a date mentioned'
The plant will start producing its annually expected output of up to several thousand fuel cells by mid-Summer, so presumably July ish.

So money set aside for the additional facility. Also if production is to start by mid summer, they are obviously not going to hang about getting these facilities geared up.

They must be very close to orders, although I now suspect they have at least a couple already signed, or at least agreed to on a MOU.
Well done AFC, this should really start to move the sp.

On a day like today any increase is good, so well done AFC.
What with the global financial situation, all the talk of an oil Armageddon and the chance that Israel are loading their planes up to pay Iran a visit, I'm surprised we have not all cashed in and started to run for the bunkers.

Sir John Sunderland joins AFC Energy as Non Executive Director

Enough is enough.

Like most red blooded males, I love a bit of foreplay, but enough is enough.
Lets just hope we reach a climax tomorrow.

If AFC was a female, she would deserve a bit of a slap.
What a tease!

Ready to blow?

Greek - you are sending mixed metaphors ! :-))

I know, even my psychologist does not understand me!

Please take a chair.............................................................beside me........you're good....you're good you are.....really good........no....you're really good....

Forget fundamentals, charts and the like.

Sir John used to be a director of Camelot Entertainments PLC (the company that runs the National Lottery).

Two things spring to mind here.

1 A Knight in Camelot.

2 Is this a sign, we are all going to win the jackpot.

Mind you, with 4 lines yesterday, not yielding 1 single number, I have a far better chance of hitting the jackpot with AFC than I do via Camelot.

Skinny/RF,

Ready to blow? at least I did not say that all this sucks.

Sorry about the above frivolity, but these constant RNS releases are having a very strange effect!

Yes I know what you mean - some companies seem to issue an RNS if someone has odd socks on, while others think shareholders are nothing more than mushrooms and keep them in the ......

AFC ENERGY APPOINTS LUTHER PENDRAGON AS INTEGRATED FINANCIAL AND CORPORATE COMMUNICATIONS ADVISER

12 March 2012: AFC Energy plc (AIM: AFC), the leading developer of low-cost alkaline fuel cell technology for industrial applications, is pleased to announce the appointment of Luther Pendragon to spearhead an integrated corporate and financial communications strategy.

The appointment follows significant progress at AFC Energy to commercialise its technology with the recent installation of its Beta fuel cell System at a global chemicals producer, and the arrival of a new chief executive, Ian Williamson, from Air Products.

Based in the City of London, Luther Pendragon will combine the roles previously held by two separate agencies in a move to align AFC's public relations with its business strategy, as well as improve coordination and quality of communications with stakeholders.

Ian Williamson, CEO, said: "Luther's integrated approach to our communications needs will allow us to focus all of our resources in one place, ensuring consistency of messaging and effective use of management time to reach out to all our existing and potential stakeholders, partners and customers."

Neil Thapar, Director, Luther Pendragon said: "We are proud to be working with AFC Energy, a British company with disruptive, clean energy technologies and global growth prospects. By delivering a proactive and integrated communications strategy, we are confident we can help AFC to improve understanding of its business and achieve its corporate goals."


Luther Pendragon. Any relation to Uther Pendragon? Bring in Merlin, we could do with a bit of magic!