Hi,There is only one announcement in which any information is...

Hi,

There is only one announcement in which any information is contained - 14 March.

The highlights in the 14 March announcement includes:
'K-TIG is revenue generating with commercially proven technology that is in production with numerous customers globally and able to complete a conventional industrial scale weld with a cost and time reduction of over 80% based on customer engagement'

I used the term earnings a bit carelessly, should have said revenue - though it may well have earnings (negative) presently! I presume they do have revenue currently, this is consistent with them having 'customers'. Though reading through the announcement is not 100% clear which is why I said apparently.

There is no revenue guidance. They plainly hope to be able to generate $30 mil revenue in three years from 2020 and have an EBIDTA target too.

What it is now, who knows at this stage.

I think the tech is interesting and has some promise. I am not sure what to make of it having so many 'customers' at present prior to the adoption of its commercialization phase proper. Are they hoping to make reasonable revenue from those existing 'customers' or will they have to go much wider to make money? As a holder with a decent holding, I hope it will justify the massive dilution. As a comparison, FBR sits at around 2.5 times our 'break even' market cap.

Anyway, there will be a while to sit and contemplate.


In relation to those who hold 31 March options, it looks like they are taken into account in the indicative capital structure at completion which may suggest they intend to extend the strike date or alternatively 'honour' the options in some way.