Half yearly report as seen by HB Markets - Proactive Investors...

Half yearly report as seen by HB Markets - Proactive Investors UK.

"Half year update from CFCL reflects the inventory build up ahead of the commercial trials/sales. Sales fell to A$0.93m (A$1.48m) but interest received, as shown as Other Income at A$4.09m (A$0.25m) due to a one off settlement from a former investment and financial advisor, helped maintain the reported loss before tax at A$8.39m (A$8.34m), adjusted PBT loss excluding one-offs and forex impact was A$6.88m (Loss A$7.74m). The group ended the period with net cash of A$25.71m (A$9.41m) post a net cash raise of A$28.92m with key movements being the adverse working capital movement including some A$3.8m of additional inventory. The group remains well funded for the future with good progress towards commercial sales with a forward order book of some A$8.8m. The minor variations in revenues will smooth as the group moves to commercial sales of its combined microCHP/fuel cell device, indeed it reports the full transfer of manufacturing from the initial R&D facility in Australia to the Heinsberg plant in Germany was completed in February. We repeat our SPECULATIVE BUY recommendation"

http://www.proactiveinvestors.co.uk/columns/hb-markets/4597/hb-markets-daily-smallcap-newsflash-including-ceramic-fuel-cells-craneware-saranteltricorn-and-others-4597.html

All is looking very good for CFCL. The fuel cell industry and the company.

For those interested in seeing the CFCL process and plant there is a YouTube clip from 2008. Dated but I wasn't aware it existed. Not hard to see where the 250M in R&D has gone.

http://www.youtube.com/watch?v=ta7RpOwQYbk