Exited this week following the poor quarterly. I had previously argued that the NCF prospect was a long game, but was encouraged by Vivid's lighting technology. Their contract structuring yielding a component of recurring Revenue really appealed, but of course, for this to feature in any earnings build, you need momentum. I will keep VIV on my watchlist, but think the lumpiness of sales versus their monthly cash outflows will continue to challenge them financially.
For those enthusiastically hanging their hat on the NCF prospect, you may recall I had previously indicated a concern that NCF last issued a Newsletter January 2016....yes, 18 months ago. Nowhere in my research could I confirm any official confirmation of work in progress with Sinopec or any other potential adopter of their technology. Then, the quarterly loans from VIVID to NCF.
Registered on their website to receive newsletters, market updates. Then sent a message asking whether if this would allow me to access all recent newsletters. Herewith the response ...
Dear Sir (or maybe Ms. can’t know from your mail, sorry)
Thank you for your approach and the interest in our newsletter. We share our concerns about climate change and the impact of CO2 capturing and utilization should and may have on it.
While there are many people around the globe sharing this concern, including business people and corporate executives, the latter still hesitate to provide the required funding to make it happen. While we believe that newCO2fuels has a very attractive solution to the problem, we still face difficulties to raise the funds required to complete the product development and launch a pilot. Hence, in the last year we have significantly reduced our staff and some activities including the marketing and public relations have suffered, including the issuing of the newsletter.
We are still optimistic about the future of NewCO2fuels and hope to recover and resume operation including newsletters and other activities.
David Banitt
NewCO2fuels Ltd.
Mobile:
+972 (0) 54 454 1380
Email:
[email protected]
Website:
www.newco2fuels.co.il
This does not say they wont have success. That said, in my opinion, it does say they have stalled. I am out, so has no bearing on me, but thought for those that have their 'hard-earned' invested in VIVID, you at least need to be aware of the current status on NCF.
Wishing you all good luck with your investments. Hopefully, for your sake, I will be proved wrong and have to pay 20 c to re-enter in order to re-instate the pleasure of your company.
Take care
Rokewa
