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Starting to bubble...
Chadster -
Thankful for the updates as a result of your TR1 and communications with the CEO.
The mid-long term future of #ECHO sounds encouraging and bright.
ATB
New investors buying at current prices can’t go wrong here with good news this should rise.
Long term investors we just have to be more patient, keep topping up and waiting a little longer.
Thanks Chadster - that’s great having you as a +3% holder, should give you a bit of sway / influence with the bod. Looking forward to the update / new direction in due course.
For risk takers, the opportunity to invest in here right now is golden imo.
Helx2
Will give them another call after the GM.
Echo has identified more than one business opportunity and are doing their due diligence/Negotiating and will carefully decide which is best for shareholders.
I think RNS after GM unless both parties agree a deal before that.
Sorry for the late reply was a bit busy.
So if you invest now… you get the lot? Yeah, I’m on board with that - you could be too! 😄
Passed going forward: means echo is not likely to move in any direction. This may mean going round in circles.
clean slate: means no value is left for existing share holders. The new investors get the lot.
Or do you have other explanation?
Thanks Helix
Was thinking Chadster - if it may be worthwhile during your next chat with Stephen to perhaps ask him to provide an announcement as to the new direction / plans of the company in advance of any new / significant capital raise. Would certainly provide confidence for others like us to start solidifying the new share-price-base for the next venture.
Did he say anything to you that may indicate when an update would be forthcoming?
Apologies if this puts you on the spot - very excited now of course.
Resolution Two
THAT subject to passing of Resolution One as set out in this Notice, the Directors be and are hereby generally empowered pursuant to section 570(1) and 573 of the Act to allot equity securities (as defined in Section 560 of the Act) as if section 561(1) of the Act did not apply to any such allotment, provided that this power shall be in substitution for any previous powers conferred on the Directors pursuant to section 570 of the Act and shall be limited to the allotment of equity securities and sale of treasury shares
(a) Up to an aggregate nominal amount of £589 in respect of the right to subscribe for 588,088,889 new Ordinary shares proposed to be granted under the warrants to be issued as announced to the market on 29 January 2024 and 8 February 2024, at an exercise price of 0.008 pence per share;
(b) an allotment of equity securities in connection with an offer of such securities by way of rights issue, open offer or other pre-emptive offer to holders of ordinary shares in proportion (as nearly as may be practicable) to their respective holdings of such shares, but subject to such exclusions or other arrangements as the Directors may deem necessary or expedient in relation to fractional entitlements or any legal or practical issues under the laws of any territory or the requirements of any regulatory body or stock exchange; and
(c) otherwise than under paragraph (a) and (b) of this Resolution an allotment of equity securities (or sale of treasury shares) up to an aggregate nominal amount of £17,027.00
provided that each authority shall expire at the conclusion of the annual general meeting of the Company to be held in 2024 or on 30 June 2024, whichever is the earlier, save that the Company may make an offer or agreement before the expiry of this power which would or might require equity securities to be allotted or rights to be granted after such expiry and the Directors may allot equity securities pursuant thereto as if the authority conferred hereby had not expired.
For the poster that requested the 2x resolutions being voted on:
Resolution One
THAT the Directors be generally and unconditionally authorised for the purposes of section 551 of the Companies Act 2006 (the “Act”), to exercise all of the powers of the Company to allot shares in the Company or to grant rights to subscribe for or to convert any security into shares in the Company up to an aggregate nominal amount of £17,616.00 but subject to such exclusions or other arrangements as the Directors may consider necessary or appropriate to deal with fractional entitlements, treasury shares, record dates or legal, regulatory or practical difficulties which may arise under the laws of, or the requirements of any regulatory body or shall expire at the conclusion of the annual general meeting of the Company in 2024 or on 30 June 2024, whichever is the earlier, save that the Company may before such expiry make any offer or agreement which would or might require shares to be allotted or rights to be granted, after such expiry and the Directors may allot shares, or grant rights to subscribe for or to convert any security into shares, in pursuance of any such offer or agreement as if the authorities conferred by this resolution had not expired.
Helx2 -
Is a good investment for the mid-long term.
I'll be taking another 100 million mid April after my yearly dividend :-)))
ATB
Yup yup - bonus arrived last week so i've sprinkled a bit of it here - that will be my last top up.
Helx2 -
Nice increase of 70 million !
ATB
Hm yeah - I’ve got a stack of dogecoin that has been performing very nicely these last few days - won’t be touching it for a wee while yet - as you say, keep following the money (blackrock in particular) there.
You have bigger balls than me to keep pumping thousands in to this.
Still about 95% down for me but on a plus made 45% on bitcoin today on leverage. The irony is if I sell my bitcoin holding I could buy a hefty amount in echo, enough for a nice Tr1. However I’m following the smart money so wouldn’t be that foolish. Maybe when I can buy a 51% share in echo… that could be interesting
Another top up for me - nom nom nom!
Someone’s had a fun Sunday 🤣
💤 😴
I hope all had a good weekend.
So the 1st full week of March is here. Many have hailed The Last RNS as the New beginning (they may have used words like in the passed going forward and the likes) So lets give them the benefit of the doubt .
A clean slate with a lot of shares 17,000,000,000. The matter of bonds and a small loan and outstanding payments to BoD's or ex Full Execs we will put to the side along with the small assests.
So we have a clean company with 17 billion shares already.
What not there is already a drain on the zero bank balance as there are wages and taxes to pay along with the daily expenses.
What is Echo trading in? Exploration Production or something totally different? We don't seem to know ( Remember this is a blank canvas)
As some will know bidding for contracts is a costly business with no guarantees of success.
Lets say Echo gets luck and wins a contract or buys an asset or up and running company. How will they finance this?
Loans or asking the share holders to pay more? both will come at a cost. Even if Echo had no track record that would cost, knowledge of it's past financial history may be costly.
.
Oh I forgot to mention the Share Price.....
Not everyone sees that as a real indicator of how the markets see things. They seem to think the MM's play games.
I'm sure they do as NASA doctors images but that's where PI's make or lose their money.
So SB (the CEO of many Words) over to you..... You took this role on back in late November 2023. It was great to hear you spoke with Chubster the other day. After all he is a share holder of 4%. He would have been better off talking to the cleaner as he gleamed as much info as she has.
But I do thing you should really engage with your shareholders in general. By all accounts you have ruled out a few countries but the thing that was left in my mind was what kind of business or sector do you see echo targeting? As this is a new start it could be anything?
Lets us know on a Postcard or an RNS
Regards
The CEO needs to say something to those that hold the 17 billion share (granted these were issued historically and have no meaning on the New Echo going forward.
Chubster it appears you bought your shares in the past. The new vision is the way forward and That will start once the CEO announces the new future. I assume he has the future finances covered as the passed bonds aren't an issue nor the wee loan.
That is great news. It is great to see the wages of the 4 employees have been cut but there is no mention of a deal being struck on monies due to JP or MH while they lead many up the garden path?
I can't see SB coming up with a strategy and deal on his own there must be outside help from consultants and others to broker a deal on a new future that will need to be covered before a spanner is turned? The start or the movement of monies . You can't make a cake without the ingredients nor an oven or a stall to sell it from, all cost money.
Anyway weekend is here.
The SP is only down between 50-73% depending where you look since SB to on the Role.
💤 😴
He may well be honest trustworth and a determined person. But the SP gives us an insight as to how the many see things since his appointment.
This can be a cruel and unfair way of judging a company and their BoD but it does give a larger view than then even I or the 3- 4 fridge magnets that worship the future.
Thanks Chadster :-)))
Sounds very positive, like you am looking forward to the future of #ECHO !!
ATB
CDF1
Yes had a good conversation with new CEO.
Very honest, trustworthy and determined person.
He couldn’t give much away but did say not in Argentina and a few countries around there, so I’m guessing still in South America.
As for Bond payment that’s due 2032 nothing to worry about yet.
Current small loan due next year, that should be negotiated soon.
Interoil shares are locked in until June this year (was worth 400k)
Overheads are at very low with cut wages to preserve cash.