CAP-XX Limited (AIM:CPX) – AUD$91m and counting.. but little sign of significant progress !
CAP-XX Limited, calls itself a 'world leader' in the design and manufacture of thin, flat supercapacitors and energy management systems – the latest results for the year ending 30 June 2014 suggest otherwise!
Sales revenue rose 11% to an eye wateringŅŅAUD$4.0 million, that’s £2.3m. Management commented how the progress on the delivery of operational cost savings is pleasing and the impact is already being seen in an improving product gross margin and a significant reduction in the cash burn. The balance sheet reveals that this business has now built up losses of over AUD$91m having been admitted to AIM back in April 2006 raising just over £17m at 93p per share (Current price 3.6p). Major shareholders include some ‘serious’ institutions including Legal & General Investment, Aviva, Cheviot Capital, BlackRock Investment Management (UK) Ltd…