You will recall the letter of intent - key content below. I do not disagree with criticism being directed at the management team. They do however put a fair bit of effort into communications but much of it is just repeating old stuff. Investors want to see meaningful progress. I am not sure it is yet reasonable to say the situation is dire but we need more progress to look anything like getting to that 9c mark. (I too need to see that mark passed to get back into break-even and return to some optimism about this company.)
What is needed at this point is some more clarity around the alleged key customer, ZISP with some schedule of how and when the letter of intent will progress in meeting Customer Requirements. Now the 2 prototype units are there for testing, we should be able to confirm the battery specifications, know the preliminary performance of the batteries. How long is the testing required to meet Customer Requirements? Can they agree Warranty arrangements?
Lets get the LOI into an agreement upon which finance can be built.
Offtake Letterof Intent between Zweckverband Industriepark Schwarze Pumpe (ZISP) and Altech Batteries GmbH. Underthis Offtake Letter of Intent (LOI), ZISP will purchase 30MWh of energy storage capacity annually,consisting of 1MWh GridPacks, for the first five years of production. The price of these batteries has beenagreed and aligned to Altech’s Definitive Feasibility Study assumptions. The purchase of these batteries issubject to performance tests, battery specifications and the batteries meeting customer requirements. Thisofftake LOI constitutes an important aspect of the financing process
An apparently good product is there for market and finance proof. Lets get the show on the road before operating funds require top up again. Without good progress on that front it will not really matter whether the fat cats at the top of the tree get a hair cut or not.
Just my thoughts
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