The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
“DP needs to stop this and now.“
He does but he won’t, he’s on a mission, a mission to what we wait to find out,
I keep on asking the same question. Any other CEO would at all costs stop this spiral and take drastic cost cutting to balance the books as he ran out of placing options years ago when the company valuation dropped below £20m but he seems to have only taken minor cost cutting and today we get a kick for another 10% dilution that will mean millions of shares being dumped so Altair do not accidentally hit 30% stake and have to make an offer for the entire company. Dp knows this and has always known this but he carries on and we have seen the share price fall continuously for 2 years while Altair and Catalyse and Riverfort have sold shares. Everyone should ask what is DPs game as he has had 2 years to trim the fat and the ridiculous £200k advance for 10% dilution deal has already wiped 30% off the company value and next week Altair will will probably be offloading these shares hoping that with all the extra benefits they recoup the money. DP needs to stop this and now.
Exactly which bit is false or misleading may i ask ?
If you are referring to Verde , you still think they will stump up the money?, have you actually researched their track record, they have done this before and have been taken to court for it
Simms - totally agree. I think this left field dilution was not expected. Also why? I mean it will bring the syndicated debt down from £4.7m to £4.5m (after the 400k repayment) but as we can see those extra shares on the market at a precarious time has damaged the SP way more than it should have done for a 7% dilution.
Schrodingers.... yessssss..... I asked you to post the link. can you do that please. thanks. well read.
Computer9 hanging a little to the right what false statements you make especially about Verde and lawsuit! amazing. Also amazing your post is still here. I draw your attention to:
"Important Message from the Financial Conduct Authority
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse. This could lead to an unlimited fine and up to seven years in prison. If you have any information, concerns or queries about market abuse click here."
Which is below every post.
Interesting posts here all day, once again its posters on LSE that have trashed the £250M+ company down to £2.5M !
Palumbo's inability to control overheads (his arrogance) and he penchant for issuing equity to pay for his incompetence has demolished the shareprice and looks like really knows no bounds.
27 staff including 4 Phd's, 16 Process engineers and laughable 3 experienced executives don't come cheap, it's absolutely certain the wage bill for the first half of 2023 was more than the £24k a month they actually generated in revenue !
Palumbo's laughable statement at the last AGM regarding salaries and staff leaving if not rewarded handsomely just sums up his attitude, he would rather them sit around waiting (paid for by shareholders) than lay them off, all well and good if you really have a pipeline of work arriving very soon but again JVL was lying about that it seems.
Much noise today regarding the £15M IDEX order and how that will turn the ship around, who on earth is going to give EQT an order for £15M worth of kit when they can't keep their heads afloat on a month by month basis, are we expecting IDEX to somehow advance a proportion of this cash into Palumbo's hands, looking at his inability to manages day to day financing ask yourself would you? what would it be secured against, equity ?
Until expenditure is grasped, and Palumbo is replaced with someone that has a clue the recovery is very far away, issuing equity over and over again is the sign of a startup company not one that is 25 years old.
We wait and hope to see what is next of Palumbo's corrupt activity list, one thing is for sure he and his select gang won't be sat at home this evening looking at the balance of their investment account and seeing -90%+
Verde is now a certain to disappear, the only question is how long does Palumbo string it along like the weak minded idiot he is before cutting them loose, Verde must be sat thinking even a lawsuit for 50% of the amount would look attractive at present.
Overall the most galling thing is Palumbo and Lier Linden still refuse to show their face, No Investormeet, no answers to enquiries posted via the website (since they removed the IR email address last year), No Twitter posts addressing the issues, No linkedin posts addressing the issue (although if you follow Palumbo he has began to show much interest in private equity investors!)
Show some actual backbone, grow some balls, if you feel you are doing a great job and we are all just missing something get out there and tell us, at the moment your silence and your actions are speaking volumes!
We just cant afford debt for equity swaps of £200k for 10% of the company every few months. Any company over 30% needs to make a bid so to keep under 30% they need to sell. This is the issue. if Palumbo needs to borrow another £200k and we only worth £1m that is 20% dilution but Altair in meantime will need to offload 10-20% of existing stake. You can see where i am going and why Palumbo must immediately ensure cash coming in meets costs and avert that spiral. Its been on play 2 years from what i can see, if Palumbo sorts this we could see progress back to £20m market cap but today its just an issue.
What? Do I need to quote the RNS it's not by Q1 2025 it's in Q1 2025 it's not a birthday card they (if it goes to plan) get the final payment "in" Q1 2025. Mate you really need to think before you post. Your entire defence was €15M in one period. That's clearly not what's happening, the FEED revenue is not enough to cover administrative expenses for 2023, 2024 and 2025 which is what it would need to do for you to be right. The logik settlement and Altair advance is to address this, sorry but how are you not getting this?
Precisely - schrodingersscrotum - is it there or is it not no-one knows until they look and noone wants to
I read it (and I remember numbers more than else) and couldn't quite remember where hence my needs clarification statement. But you also can't read because I asked for where to find it which you didn't post. Illiterate lol
Hence why I said "by Q1 2025" so I must have read what you have read, although it does say somewhere else FY 2025 oops so you misread that as well as I. However, that is a single revenue stream, without even mentioning Italy, the US, Croatia or any new equipment orders which I haven't taken into account.
Bit sort of hit and miss your posts - but then I guess if aren't going to open the box...
lol
Better but try again, firstly it's Euro's and secondly it's revenue split from Q4 2023 to Q1 2025. Uh-oh someone isn't very good at reading releases. So to put it simply it's €15M spread over a year and a half or over 3 accounting periods. Would you like me to remind you administrative expenses alone were €5.7M for 2022. You keep digging though, still look thick.
I'm on board with this. There's nothing productive about constantly spouting the same negative comments day after day. If you are invested in the share it serves no useful purpose.
If people are fairly critiquing the performance, particularly given the continued downturn in the SP I totally understand the reasons as it aids knowledge and debate.
However, some of the positive progress in recent months is being lost to the constant attacks on the BOD. There is some light at the end of the tunnel, good progress operationally with projects and the Logik settlement will help cash flow.
No concrete grounds to be excited and reassured yet, we're still dropping after all, but I'm hopeful the next few months can bring good news.
Scrodingerscat:
"Unaudited gross revenue margins for the Group in 2023 were c. 15%, increasing above 30% in Q1 2024"
30% of £15m = £4.5m so sorry the figure does add up. I already stated this figure excluding all other revenues (and so profits) but also excluding running costs. Purely that offsets the remaining debt after the £2m payment and zeroing of the £3m facility.
I assume you did that calculation? Strangely I'm trying to find where I saw the Idex was about £15m revenues - so if you find it please let me know. Potentially this could be in Euros so yes then 85% and so the numbers wouldn't then match.
But I think it’s been said so many times already.
There’s only one more thing to say…
Can someone turn the lights off and close the door on the way out. This drop will go on till a cap of £500k
I’m crying typing this one.
It made me rich and made me realise an important lesson. Don’t gamble with money you can’t afford to lose.
SS
OPEX is down in a big way. They've cut Operating to the bone, and will go further if they need to. Salaries are nothing like the numbers which keep being stated. They just are not. FJ's salary claims are either ill-educated guesses or just lies. It's one or the other.
The spiral is about to come to a hard stop, but it needs those here who still know and believe the price can recover to come out and say it and speak out against those who's interest it is to wreck the price. This price crash is making them a fortune and its self fulfilling. Get back to facts and we can bankrupt FJ and C909 inside a week.
Simms45
I note your a bit less positive on Palumbo and the BOD here ( bit like myself really)
I have looked these chancers in the eye and thats the galling thing that irates me .
The blatant economical with the truths , the Italian MDC not up and running continuously as off last weeks RNS being an example amongst many others.
I think we need to separate the projects and technology and some great people from David Palumbo who appears to be working to his own end and continually converting debt into equity that is then dumped on the stock market so that the next debt to equity is at a lower amount and a higher stake in the company. We actually do not have enough market cap left for any more debt to equity. That is only reason we are £2m and not £20m. Someone needs to email or speak to him to understand why he has not brought costs under control. How he can look his staff in the eyes having robbed them of their equity is beyond me. Its so obvious what he needs to do. If DP ultimately enriches himself at the end of this spiral it will be beyond anyones understanding. He has robbed £50m from private investors while barely investing a penny himself. I guess that was a warning. Could be a 100x from some point or a wipeout if DP turns out to have been a thief all along. Lets hope he has some honour left to his investors and staff and stops the shenanigans.
The price is the only thing which isn't going the rampers (AKA true, real investors and holders) way. Everything else, including the tech, the orders, the awareness and the fundamentals are. Price is delayed. You spreadbetters can just see your windows rapidly closing, so have to spend all your time here getting the last drips of your horrible little gains.
Are you really complaining about name calling and insults foxy? Oh the irony......
Stooping to name calling and insults seems to be a common trait when things aren't going the rampers way.
Down 30% in the last 5 days since the latest ramper crew arrived.
So because I’m invested I shouldn’t slate this POS
I think when I log in to HL and it says -97% I’ve got every right to slate it
I would not recommend anyone invest here
Who knows where the bottom is how many more Z list give always yet to come
Yeah wouldn’t it be great if they come good but I think it’s highly unlikely and if in 5 years by some miracle they actually earn the outgoings how many more rounds of dilution does that equate to
Best of luck everyone
MyIPA you refer to the baboons well you my friend are certainly no great ape. You bought in with hope and optimism, nothing more.
You want others to follow you that's fair enough but you clearly from your posting have no idea on the current cash burn. Nobody does unless they are an insider, I'm an accountant by trade and I would bet with a degree of certainty that the need for recent cash raises is that they are struggling to get their accounts signed off by their auditors as well as not enough working capital.
So you may be financially illiterate but others are not, anybody with any sense will wait for the year ends before they commit to invest or not. You talk about Idex like that revenue figure goes straight to the bottom line, so I'd politely suggest you Google gross margin. There's nothing known on any of the previous releases suggesting that they are anywhere near cash positive, they need more projects. Why is it everyone can see this but you. Are you thick? Your posts suggest it.
AGM will be announced shortly after the YE's are published as per AIM listing rules.
94% down the last 12 months in this POS .
Rampers down £100,000s and still they try and promote this POS hoping too offload onto potential new victims at higher levels which has failed miserably so far as Palumbo continues to trash the price with his never ending dilutions.
Shameless ramper crew must try harder I,m afraid.
MYIPA was on EUA recently posting lengthy sermons as he is here now, seems like when he turns up SP goes down even further. Think an insult to LTHs that he feels he can just turn up and belittle those who have been correct all along. Just cos he is in around these 'low' prices sure doesn't give him the right to ridicule those actaully have been here longer than 5 minutes.
Chilting - I think the main issue is the multiple misleading and outof date information posted by these posters. If they were current I would understand but many statements appear to be true sometime historically (as in a lot of shares especially in AIM) however no balanced statements are ever made, and some statements not even true historically (that I can find).
For me we'll end up at £4.5m debt in total after the last RNS and after receipt of the £2mln. Revenues should increase, and the £15m Idex deal should at 30% profit equate about this by Q1 2025. Then it's up to the other revenues to break even/new contracts (of course nothing signed that side). The move away from the high risk high capex I think is the key differernce now - it is almost a different company. That's if the £4.5m is to be paid back and not converted of course - that'll be a different case. And that's even notwithstanding this is a market sector that usually has debt due to heavy infrastructure/equipment purchasess (depending on how contracts are structured).
Think of it this way - massive number of posts by those 4 yesterday and all week and 20% down just yesterday - today? Hardly any. Highly suspicious. If they are so unhappy surely it doesn't matter what is happening to the SP they would say the same even on good days - except they are silent on good days. Ergo traders. Ergo manipulating the board.
I won't be letting up as I prefer balanced discussion. As I posted a couple of days ago - the outlook is still uncertain but in my opinion EQT look to be doing what was said they were going to do.
MyIPA
I was posting with similar positivity as a new investor - the future looked great then - but as I said, I lost 90% of my investment.
Normally, I would agree that Foxy and the other long term investors had other motives, but in this case they are actually, I think, providing a valuable insight into this company - I would suggest that you take them seriously.
Chilting - 100% agree with your post. Sorry to hear of selling out at 90% loss - but I do applaud you in that you took the decision and owned it. I have had to do similar on other shares.
Either sell out and move on, back burner it and move on, or if not actually invested then stop spewing outdated rubbish like a verbal incontinent Foxy. But also you (Chilting) post in many other shares. These 4 baboons do not. they ONLY post in EQT. What does that tell you about them? Multiple accounts? Trading? Not a real investor?
That's what it tells me about them.
As a new recent investor I care about about the history of the company and board in so much as the current situation. I think this now has a future since the trading update was inline with predictions 6 months ago. That gives me faith that what they have said now is also more likely to be in line. I have posted previously and I think this is the right way to go. I don't have large (absolute) losses and I am also not emotionally attached. But what I do have a beef with is ill-educated baboons vomiting all over the board in an obviously coordinated effort.