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They’ve got a messily £3m, many many months after it was promised and a JV ( with no funding).
Compare promises with reality - stark difference.
Yes that's correct but the binding agreement works both ways, why didn't Eqtec purchase the site/SPV, if they had done that then there would be no issue? They kept extending and extending and I think Logik just had enough?
Jim theyve just secured huge amounts of funding. I think you need to check your facts.
This is the point to buy, DYOR, its compelling
vls shares cancelled and company taken private with shareholders getting 0.25p for their shares.
lots of comparisons with eqt:
- inability to get their promising tech proven at industrial scales.
- treated more like a science project than a business.
- inability to raise funds commercially, successive raises diluted holdings enormously.
- late consolidation didn’t help.
i bought 3 lots of green aim shares (eqt, vls and getech) about 3 years ago with oil and gas dividends hoping one would make it. now one has failed and eqt and getech both in intensive care - meanwhile shell and bp continue throwing off cash. esg investing my ****!
Crazy to see the SP back here
Look how many companies are raising funds at significant discounts
Meanwhile, EQT have secured significant funds vs their market at incredibly favourable rates - better than you can get for a mortgage
This is significant and I expect a gradual rise back over 4p
Eqtec advanced money to Logic and Logic signed a “binding” agreement to purchase the SPA and was only reason they advanced the money so any binding contract will have repercussions for Logic. Eqtec would not bring a case if they were in the wrong. Logic are very much in the wrong but more a question of how much they will settle for and i hope resolved in February/March.
Foxy, I have never filtered anyone as everyone is entitled to their opinion and I will think about any idea put forward. I just become disappointed when folks waste their time and talents and whatever therapy value you obtain it must be pretty minimal compared to the satisfaction of doing something constructive. Anyway that's my post for this month done. Keep your chin up!
Have you ever thought there may be wrongdoing on the side of Eqtec here and actually Logic might have a case? Who is the buyer of Deeside and what roles have eqtecs employees and consultants had with this purchaser..
One of the many things we await more information on.
It is going to be a very interesting February and also March.
Just seen the paper loss as of today in ISA twice as much as as anything I made here 2020/21 .
Down 98% ( Wi )
The small amount left in ( X ) 101290 became 1012 new ones ( down -92% ) "always lose the part of new shares in the 1 for 100 consolidation".
( X ) claimed -92% from 23 December 2023 consolidation date , but they do not have the primary bid buy price 16/7/2020
They might have the PB transfer value cost as 0 I think was 0.45 eqv to 45p
While it seems fair to say Logic owe Eqtec something. Eqtec thinks £4m and i am sure Logic think less but one way or other Logic will pay something. Biggest issue is normally collecting the money but just checked on Companies house and they have exactly £4m of capital in reserves so when Eqtec settle or win case Logic can be liquidated to repay the money and Andy Flintoff who recently stood down is still open to being liable as a director as part of this case if wrongdoing is found. I think Andy Flintoff was tipped off that Logic case is weak and stepped back. However if court finds Andy Flintoff and others in email communications that will be required for court case it could all blow up. Pretty sure Logic will settle case but probably at time did not have the cash to do so and maybe hoped Eqtec was on its knees and might not have cash to battle. Sadly Logic called that wrong and they will pay alongside court costs probably.
If we follow last years trading update we should get this in first week of February. The last RNS covered a huge number of projects with some already happening so always worth a re-read to remind that £5m market cap for Eqtec, that only just raised £3.5m last October and probable success against Logic for up to £4m is almost more and not even discussing projects incoming. New investors (not already burnt) are likely to swoop but i am hoping news before trading update but i think the update will be very confident on future. https://www.lse.co.uk/rns/EQT/interim-results-pjgb26eo1giuan3.html
Thanks for your concerns and advice Roadrunner towards some anonymous posters on a forum here.
You rest assured now 5 or 10 minutes here every other day actually is no bother whatsoever in fact its therapy like sudoku or a crossword really speaking for myself.
Now theres allways the filter button if the occassional factual posts continue to bother yourself !
I don't Iook in on this echo chamber very often these days and I am surprised Foxy and C909 are still here wasting their lives complaining about something they can't change. You 2 really must have nothing better to do or you need the company. You should get out into the real world and do something more rewarding.
C909
Either the management make a public statement that their priority is to use revenue generation to pay down debt, and that includes anything coming back from Logik
I can’t see your above scenario happening, Eqtec will need all its revenue to service the loans and pay the staff wages and board remuneration.
If Logic can hold off settlement (assuming Eqt eventually win the case) long enough, Eqt might need another placing to keep the company afloat.
Which primarily was the reason for consolidation, further dilution.
The shareprice is down over 99% from 3 years ago when Palumbo was merrily retweeting the graph showing the rise , seems to be all coy now on retweeting recent graph movements with his orchestrated destruction .
We all know it's not Palumbos fault as he often points out it's all down to legacy and the market.
Nothing to do with the ;
Lost £50m,
18bn shares issued (pre consolidation smokescreen ),
Altair,
€144k interim revenues
£400k monthly burnrate
1 project delivered after 5 years in charge.
The 1 project finished 2 years late
Yep definitely not Palumbos fault.
"Does anyone know how many shares still Altair has? Thank you."
Loads, and when they get a bit low Palumbo will gift them a few more million !
3p now the chart on ( D ) misleading , goggle chart accounts for consolidation .
Finally had a look at holding on ( X )
Primary bid offer 9/7/20 at 0.45p consolidation price 45p.
Thank God I sold most of them first batch 23/12/20 @ 2p eqv 200p
Later that day 23/12/20 bought half of the sale back @ 1.849p eqv 184.9p.
Sold that buy back 30/12/20 @ 2.61p eqv 261p
Sold again 30/3/21 @ a lesser 1.975p eqv 197.5p ( they had fallen back to 153p on 5/3/21 )
They kept falling and falling after back to pre consolidation price .
In hindsight mistake to keep a small amount .
But got more then the outlay back after the first sale.
And loss in ISA most probably covered .
Does anyone know how many shares still Altair has? Thank you.
I notice proactive were all over "EQTEC surges as Italian bank approves loan drawdown", we don't see any "EQT Slumps as investors wake up to charlatan management bull"
Why if the Italian MDC is such a "win win" how come they did their usual 6 month placing eh!
B123@ "Is there a placing anytime soon"
Theres a placing here roughly every 6 months for £3m which correlates with their burnrate off £400k per month with costs .
Palumbo and Jeff baby bemoan the shareprice even when " goodnews issued "
Well heres a few clues Lads ,
15 years this has been masquerading as a startup technology company 5 years of those now under Palumbos/Altairs reign and still the begging bowl every 6 months diluting long term retail backers to oblivion as no decent earnings from the 27 staff.
Deadlines missed, forcasts obliterated , billions upon billions pre the consolidation smokescreen issued.
Yet they still wonder why the shareprice dosnt rise not that it bothers them every Friday at the trough.
"Certainly agree with a lot of commentary but are we worth more than £5m? "
We are worth what the market values us at, we such a corrupt management team paired with vulture lenders, there is very little investment case left with EQT, until one of two things happens very little worth can be attributed to the company from and investors point of view.
Either the management make a public statement that their priority is to use revenue generation to pay down debt, and that includes anything coming back from Logik
or
There is a clear out of the charlatan management and a new team come in who have an interest in shareholder value beyond Altair.
Until one of these happens the news stream will be greeted with a spike and then the inevitable retrace to these levels, it will struggle to gain any momentum weighed down by Palumbo's warrant gifts and massive equity backed debt.
Certainly agree with a lot of commentary but are we worth more than £5m? in our heyday we were worth £180m in dec 2020. Apart from the bad handling by the management and lack of risk mitigation the future looks a lot more promising in terms of real orders, given several have come in that back in Dec 2020 when Palumbo was, in retrospect, pumping thr stock like crazy with no revenues. Just questioning market value as i have been averaging down, still well under water but when Northfork lands and Idex unload on big deals this is going to rocket like crazy. If you look around for startups on AIM not many have the sales pipeline of Eqtec for £5m market cap and the IP and a sales pipeline in Europe and the US. Our 50% of just one plant in Italy should deliver 50% of £1m profit a year for next 10 years and this will be what bank was working from when they refinanced. If we hit those targets on a PE of 10 that plant is worth £10m to an investor interested in 10% yields and investing in green. I understand management have done over investors but we personally i do not see a placing for a long time as we just had one. Be interesting to see where we are after Northfork news.
This share is a farce
Il just keep looking on here every now and then to remind myself what an utter bell end I was for investing here in the first place
Weeks of these sells to come if you ask me
50p is a pipe dream, Palumbo has given away so many warrants at 7.5p for this to go much higher than that i'm afraid. The z-listers he has gifted the company to have proven they are willing to sell at the slightest profit. so it would be an absolute miracle to see this above 10p for a decade.
Palumbo and his mates are just here to fleece the shareholders now.