CAP-XX (#CPX) – “Update re. collaboration with SCHURTER”, ramptastic!

CAP-XX – “developments demonstrate the growing confidence our partners and customers have”. Er, do they?…

Describing itself as “a world leader in the design and manufacture of thin, prismatic supercapacitors and energy management systems”, CAP-XX (CPX) states that it “is pleased to provide an update for the five-month period ended 30 May 2025. The company is also pleased to announce the appointment of a new Interim Chief Financial Officer”. With the shares currently only edging up from 0.16p, having been above 0.40p within the last year, how ‘pleasing’ really is the company’s latest announcement?

CAP-XX (#CPX) – ramptastic “Business Update”, CFO “stepping down” and Interim CFO appointment

CAP-XX (#CPX) – £2.5m placing at 0.11p per share, up to a further £0.275m “retail offer”

CAP-XX – board appointments and share option grants, ‘positioned for success’?

Describing itself as “a world leader in the design and manufacture of supercapacitors and energy management systems”, CAP-XX (CPX) has issued a “Board Changes and Grant of Share Options”-titled announcement and what of the shares currently 0.15p in response, more than 90% higher!?

CAP-XX – argues “current trading on existing products remains strong”, but how “strong” really?...

Describing itself as “a world leader in the design and manufacture of supercapacitors and energy management systems”, CAP-XX (CPX) has issued a trading update commencing that; “Following the successful completion of the recent fundraise, the board is pleased to announce that current trading on existing products remains strong, in line with management forecasts, and trial shipments of pre-samples of new product have recently commenced”. Good news from a 0.08p share price?

CAP-XX – by ‘intended that the majority of placing proceeds are for working capital’, it actually means they are for it to avert being placed into administration!

Writing yesterday on CAP-XX (CPX), describing itself as “a leader in the design and manufacture of thin, flat supercapacitors and energy management systems” and with its shares up to 0.275p, I concluded that its financial position meant I wouldn’t want the risk of holding the shares. So what of today a placing announcement?

CAP-XX (#CPX) – conditionally raised £2m via a placing at 0.1p per share

CAP-XX – states litigation settlement terms ‘do not involve payments considered to be material’. I’d suggest all of its payments are currently material!

Describing itself as “a leader in the design and manufacture of thin, flat supercapacitors and energy management systems”, CAP-XX (CPX) has issued a “Litigation Settlement Agreement with Tesla, Inc”-titled announcement including that the terms “do not involve payments to Tesla that the board of CAP-XX considers to be material to the company”. So what about this and shares in CAP-XX currently approaching 50% higher at 0.275p in response?

CAP-XX – “Update on litigation”, does it even have “the coming weeks” to negotiate a settlement?

Describing itself as “a world leader in the design and manufacture of supercapacitors and energy management systems” (despite a recent half-year increased loss on revenue of just Australian$2.3 million!), CAP-XX (CPX) has now announced that “Maxwell will be applying to the Court for a further extension of time to lodge an application for a claim of costs against CAP-XX before the end of the current week” though adding that “to emphasise, this filing is purely procedural and does not substantively impact CAP-XX”. What about that and shares in CAP-XX currently further down below 0.07p in response?

GOTCHA: CAP-XX – needs equity raise it admits “is taking longer than anticipated” by end of the month or it’s bust!

I first warned on shares in self-proclaimed “world leader” in energy management systems CAP-XX (CPX) in 2016 with they then down to around 4p and most recently, noting legal expenditure and cash concerns, just yesterday with they at 0.40p. Now from the company there’s a vaguely-titled “Corporate Update” announcement, following the “Retirement of CFO” announcement just yesterday. Hmmm…

CAP-XX (#CPX) – now “requires additional financing by the end of this month”, continuing equity financing “efforts”

CAP-XX – “Retirement of CFO”. Er, why the very limited transition time?

A “Retirement of CFO”-titled announcement today from CAP-XX (CPX) and which also includes that the responsibilities will be assumed by Financial Controller Ruvina Dissanayake. So an orderly transition then?

CAP-XX (#CPX) – “Mike Taylor has decided to retire from his role as Chief Financial Officer”… leaving on 15th March 2024, hmmm!

CAP-XX – emphasising some ‘pleasing’ business activity as attempts to mitigate delayed “Update on litigation”?

Describing itself as “a world leader in the design and manufacture of supercapacitors and energy management systems”, CAP-XX (CPX) has issued an “Update on litigation and trading”-titled announcement and what of the shares currently up 0.10p at 0.50p in response?

CAP-XX (#CPX) – notes court-related costs claim against it which ‘came to its attention’ “in the latter part of last week”!

CAP-XX – from patent infringement action “optimistic of the company's prospects” last year to now not even appealing the verdict against it!

Having been “optimistic of the company's prospects in this matter” of a patent infringement action against now Tesla subsidiary Maxwell Technologies, supercapacitors and energy management systems company CAP-XX (CPX) announced in December that “the jury has affirmed that CAP-XX patents were invalid… Whilst CAP-XX is disappointed with this decision, it is in discussions with its attorneys to agree the appropriate next steps.  While… focus on the key short-term actions to maximise sales and deliver profitability”. So what of now from the company a “Cessation of appeals process”-titled announcement?

CAP-XX (#CPX) – now ceases patent infringement case appeal due to “legal fees… and the probability of success”

CAP-XX – interims argue strategic initiatives “position us for sustained success”. Er, what about the already “tight” cash position?!

Previously on CAP-XX (CPX), which describes itself as “a world leader in the design and manufacture of thin, flat supercapacitors and energy management systems”, in January with the shares up to 0.80p I wrote “Update on IP and appeals process”, attempted ramptastic?. What of now results for its half-year ended 31st December 2023 and the shares currently down more than 20% in response at 0.75p?

CAP-XX (#CPX) – filed a notice of appeal following its patent infringement case judgment in favour of Maxwell Technologies