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Simms, you mention "very nice revenue" but H1 was only 0.146m unless I've missed something?! How much are you expecting FY revenue to be?
I seriously seriously doubt this is the nadir
£50m assets is a farcical valuation, if it was anywhere near a true valuation we would all be asking for a sell up and shareholder distribution, I think most of us would take the 12x payment and run away as fast as we could !
The key for me is that Eqtec will survive as lenders have now converted into equity. We have almost no debt now and Catalyse are buying the holding from the other investors. We are at the nadir of valuation and held at 2.3p partly because of the Verde subscription taking place at this value but also the other investors owning 10m i suspect are selling into the open market as Catalyse are probably offering them less than 2.3p for their shares. therefore we are pinned at this level. Remember Verde are supposed to be buying £1m at double this valuation. The catalyse situation is not ideal. Will they hold the 10m shares or sell themselves. they do not appear to be strategic investors but we do not know as i suspect Catalyse also sense that this could 10x on basic news flow over coming 3-6 months. £4m market cap is silly season. its bonkers for a company with E 50m of assets and a real pipeline of projects that is currently generating very nice revenue for front end engineering services that is highly profitable.
Fundamentally the company is solid, it's just Palumbo's financial shenanigans that have caused the issue, combined with his inability to trim headcount and therefore outgoings to match the revenue, oh and the top duo's exorbitant salaries!
Can't hide much longer from the full year results and the AGM David !
Shareholders over at Thames water have showed our illustrious Chairman Pearson just what they think of their recovery plan, i'm hoping EQT shareholders give him the same treatment at the EQT AGM !
De cietfulness would be Palumbos main ability in my opinion, and he played a blinder he even had Amati and Janus Henderson taking part in a £16m placing before they copped on to his porkies and scarpered.
That this company is still alive, we must recognize DP and JVL have some abilities to convince investors to pour money into this.
Its all pretty clear from the RNS and pretty transparent. Should find out next week for a full update on projects and if Verde have completed. I just see Catalyse spotting a cheap share deal. Bear in mind its £230k at current share price so tiny.
Https://www.investopedia.com/terms/s/special_situation.asp
Understanding the Special Situation
Special situation investment opportunities can take many forms and involve a number of asset classes. They often arise from breaking news stories or rumors of news about to break. They may concern spinoffs, tender offers, mergers, acquisitions, bankruptcy, litigation, capital structure dislocations, shareholder activism, stock buybacks, and any other event that might affect a company's short-term prospects.
So which one is it do you think, what has Smirking Dilution Dave and Lies through his teeth Vander Linden have in store for us?
Catalyse “special situation investor” is buying 10m shares from YA II PN Ltd and Riverfort Global Opportunities. Pitcole and altair already converted their debt . It is a big mopping up exercise to manage the myriad of dubious loans and deals. It leave company at £4m market cap that appears low.
Another fantastic week for Palumbo with bank holiday tomorrow and a further €6k siphoned off the shareholders.
How long more can he keep this charade going
Oh those halcyon days , Longspur research notes with a nod and wink from Palumbo no doubt.
2020a 2021a 2022e 2023e 2024e 2025e
£9.17m £11.07m £39.32m £72.16m £113.17m £114.29m
Going on the interims for 2023 they just have to pull in £72,015,000 in 2023 h2 to hit those moderate bait targets that longspur hit the bullseye with.
Champion Dave.
@simms
So what is your view on the “special situations investor” ?
Our loans are now minimal after the last fundraise that was used to pay off and other debt was converted. Bear in mind Altair are down 90% on their last conversion of debt back in March 2023. I do not agree on Verde. I would actually be happy for it not to happen as i think the money raised is not worth the dilution and i do not think this sum of money is terribly important and is more a favour from Eqtec to enable them to take over a 10% stake for a limited investment. i think the deal is tied to the US or something else and this was the delay as it was a package. its a tiny sum of money in reality. Anyway we will know very shortly. As to North fork they will not know yet our stake or likely revenue and will not share it if they did as it is private and could be traded on. While i have been burnt sometimes averaging down when you believe the underlying mission of the business is correct could eventually create a far larger profit in the long-term. I certainly still consider that with time this company can be worth £250m. Will first like to see it get back to £25m as todays value just over £4m is basically calling in the receivers. i have been very positive about the technology but was robbed by the CEO and his over optimistic plans but i still stand by the technology and positioning will create considerable value and even DP and JVL will not be able to completely destroy. Next week i suspect fireworks.
@Simms have you not wondered why we aren’t told the holding in North Fork or how much revenue the expect to gain, or for that point if Italy is actually making anything or if the refinancing money is going up in smoke or should we say gas.
I have asked the company these values they refuse to disclose the details
@Simms , I wouldn’t make too much emphasis on assets, Palumbo has had to put theses assets up a security against the secured loans he took out
The Verde deal is a smokescreen, it won’t happen again this week.
Every RNS EQT issues starts with the list of dates they have missed, the next one will be just the same
Bear in mind that if you are down 90% on your initial investment and able to invest the same amount of money at current values you only need to double the current share price to be back in profit. 10x is possible but 2x would put you back in profit. We doubled the other day on non existent news so just imagine when we actually have some news worth talking about. We already know, anecdotally, that Northfork is about to or in the phase of commissioning and France, Hawaii, USA, Croatia and Greece are all moving along. The adio silence i suspect is because DP has been hauled over the coals about his ridiculous revenue spreadsheet he fleeced initial investors with. Now he appears far more cautious as frankly he should be pursued by shareholders for those early speculative revenue targets where he robbed a lot of investors with bare faced optimism. As foxy likes to remind us the revenue is the last quarter was so embarrassing for over 20 staff. There are probably people here that make more themselves than the entire company made in that disastrous period. However i expect we will be over 1m this period so while pathetic it is better than the last period.
There are two risks associated with a possible EQT recovery as it stands today.
The biggest being that smirking Palumbo’s ego has once again overtaken his capabilities, we keep getting news of this project, and that project posted on LinkedIn or twitter but we don’t see anything in regulated announcements, only debt and borrowing.
The big issue with Palumbo’s ego having put use where we are is working capital, how are EQT going to fund all the work we are led to believe they have in hand, now Palumbo and JV Liars have wasted £50m on nothing.
How many company’s are going to take a risk with their £20m+ projects with a supplier that can’t pay its electricity bills?
The risk of an EQT recovery is in my opinion greatly outweighed by the risk that Palumbo and his mates will take this company private, that last nail in retail investors coffins must be on the cards, the mass dilution of everyone but his mates is a clear route to achieving the 75% vote they would need, this would also explain why the BoD haven’t dipped into their own pockets and bought at these levels.
Only my opinion, I hate palumbo (smirking) and vander linden (liar) for the way they have fleeced this company’s shareholders and still don’t have the decency to resign
A 25% waving of your salary bonus is a pretty pathetic gesture when you salary still exceeds what revenue the company is making.
We will find out in the next few weeks who is deluded. If you look at the balance sheet total assets of the company amount to €50,686,582 made up of long-term investments of €29,825,309. Yes there are intangibles as well but the company has considerable assets and my review is that we are worth more than £5m. The Verde deal looks to be connected to a US financial close so that could be a double banger next week. NorthFork alone could be worth multiples of todays valuation alone. Even our Italy plant is probably worth more than Eqtec market cap. For me 50m is just the asset value and gives no value to the future potential and the disconnect is the massive mess created by rose tinted DP who is so uber bullish. My view is average down like crazy and enjoy the next ride that is incoming as i have done recently so even a small rise will put my whole position back into profit and ultimately a far bigger return. Since you are reading this i presume you are invested so you probably know all this. Sadly the market is the market and you can only speculate that the disconnect will close in time. gla
Simms - you’re continually deluded!
You said a while ago they had enough capital for 2 years - they clearly didn’t.
You continually expect a miracle in Northfork.
You continually say they’ve reached the bottom / turned a corner / are now on track! None of these are correct.
Of course you’re welcome to your opinion (as are C909 and Foxy) but mindless optimism is a much more dangerous investing strategy than numerically based cynicism.
It’ll need a fcuk sight more than good luck!
With market cap on its knees at £5m and billing this quarter must be closing in on £750k with Hawiah and MDC in france bringing in most of this we have plenty to look forward to. company has invested/sprayed £50m but we have Italy operating, we have North Fork commmissioning where we might have 49% stake, we have logik who potentially owe us a few million. We have France that will bring in 15m as it is pre funded although expeced 2025. There is croatia, Greece, another project in the USA. These are the credible and happening projects but there is also a long list besides. At the very least it brings down my average and i do not see that £50m is not unlikely valuation once these projects are announced. The lack of news i suspect is related to Verde who have agreed to invest at double todays share price for part of their investment and that should close this month. i suspect if that happens we will get news released right after the Easter break. Good luck.
Anybody up for a laugh ?
Financial highlights 2023;
Revenue and other operating income: €0.145 million (H1 2022: €2.98 million)
Gross profit €0.036 million (H1 2022: €0.24 million)
EBITDA loss before significant and non-recurring items: €1.92 million (H1 2022: €1.97 million)
Capital raise of £3.5 million (€4.05 million) through the placing of new shares
Reprofiling of existing loan facilities including the conversion of existing debt into equity and settlement of strategic supplier fees in new Ordinary Shares
Even Palumbo doesn't attempt to glitter this t urd anymore with webinars or collaborations ,MOU,LOI,s as every trick has been played to exhaustion.
Pathetic POS ( unless a BOD or part of Altair)
If RI is serious then lord help him, ignore... he's clearly someone who has never been able to work out how to tie his own shoelaces.
Regarding this shower I notice that they have converted zero euros zero cents from the €3B pipeline since the last RNS dated the 7th December. What the hell do they do all day aside from printing more shares to sell that nobody wants? If DP and JVL survive the next AGM in will only be a result of the gifted shares to their death spiral finance... sorry partners. I've seen some boards treat their shareholders with contempt but this is just theft now. They are not generating any money to pay wages one under performing project, one struggling to exit chapter 11, one delayed (no news on if they have started doing any work) and 2 possibly 3 agreed in principle. Revenue David, revenue... business 101 if you aren't generating revenue after 16 years it's not a business. You can tell they are going to have to do another raise, if this was the Victorian era they would be in jail. I'm sure others feel the same this company is just a con nothing more.
Never seen such little substance to somebodies posts "this will fly for no reason, but believe me"...
You belong in the crypto worlD of HODL and TO THE MOON
@Rightinvestor
You can not ignore the fact that the last official figures we have from the company makes clear that the 6 monthly revenue was a pitiful £145K, this doesn't even cover the 6 months of the combined salaries of smirking Palumbo and JV Liar, let alone the other 25 staff.
The bull s hit linkedin and twitter posts wont do anything to resurrect the prospects here, no one trusts the idiot duo any more, we need confirmed audited figures showing they are generating enough cash to pay the bills rather than expecting investors to pay, to gain any investor confidence that diluting dave wont screw them over again.
RightInvestor'lol
Yr post;
RE: Another string to the bow.11 Mar 2024 08:05
This share will fly in the next 2 weeks
Today is 25 March, so 2 weeks has passed. Not flying, but grounded. And for good measure, and to cover yourself, you posted 'will fly in next 2 weeks', 3 days ago. please cut out your nonsense posts, you just make yourself look very foolish and somewhat of an id*t.