dumdidum

So here we are in 2023 and still far away from becoming cash flow positive. The huge increase of the sales force did not translate to increased revenues so far. Revenues are still coming from the customers aquired by the previous management. There seems to be no progress in the developed product lines (rubber & plastics) but at least some products got developed for the new spott on area, concrete.

MB will get a big bonus if he achieves to get 5 m in revenue by 2025 - lol. The first brilliant product that should have hit the market was firestop, but looks like it never will. BEST battery seems to be a dead cow and probably VFD also. The numbers published in the context of the metal oxide decorated graphene did not look as groundbreaking as expected but maybe those will increase due to further optimizations. The cavitation process turned from graphene + hydrogen into graphit + hydrogen and does not look like a high potential application, but maybe I am wrong about this.

GreatCell published good numbers in case of their PSCs but who knows how long it will take to bring them into the market if ever. Some months back we got notified about a big trail with an AU textile manufacturer, but as there is no follow-up it probably did not deliver the expected results. A deal with amdNano was also on the horizen, but once again this looks like it takes much longer than expected or leads to nothing.

The UK business was expected to require volumes in the range from 500-1000 tpa by now but in reality it is non existent. If we take a look at the competitors we have to recognize that a consolidation in the market has started and that some (e.g. nanoXplore, directa plus) are able to grow their business.

Good things are, FGR is still and will be liquid for the coming quaters and it is working with some real companies in the concrete space. Is this enough to stay invested in regards to their track record? Keen to get an update from sewell64 about his experience....

One of the things that kept me invested is that flowserve bought in, but honestly actively thinking about moving the money into profitable company paying some dividends - at least would have been the better choice for the past 7 years ;-)

So long, lets look what they have to report in q1.