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It's not cheap money, that's for sure, but this one is so much more interesting to other early-stage companies funding at depressed prices at the moment. Because, I assume, that the demand for their product is so profound, bordering on the desperate, that customers like the 2 in Albania exhibit almost unheard of levels of patience, ECOB is in a position to raise a relatively modest amount that funds them to First Revenue within weeks, and then presumably (we need a research report! However, I am working on my own model in the meantime) to substantial revenues and possible EBITDA positivity for the first 12 months of steady-state, two shift production on just the first production line. In other words, if this were a different small cap in a different industry like say, mining or consumer products, that had suffered similar setbacks due to everything from auditor screwups to engineering delays, they would almost certainly have lost early sales contract commitments by now. Instead, the Albanians seem as keen as ever and are prepared to receive our first output this month or next, no issues, and ECOB can then even reference growth into 'new' jurisdictions in the RNS. I'm thinking the only possible reason for this level of ambition in the RNS, and patience from the mooted customers, must necessarily derive from just a crazy level of inelastic demand for ECOB's product which is, to my mind, almost unheard of in this small cap market.
To have to raise with the price down here just shows how far out of there depth the company is. warrants exercisable at 12,16,26 over a 3 year period
Just hope they actually have decent numbers on there existing contract as share holders in from the original RTO are being shafted from a 55p price with very little forward momentum
Out of the way and looks to be they have raised just enough they needed at a slight premium. Could have been worse but onwards and upwards. They need to show revenue figures now to restore faith for the shareholders.
Joejoef82
Not in here nor interested but how can a near 1 million raise at 4% premium ever be bad???
and there is the fundraiser begging bowl out at 12p what a bloody **** show
It’s been around 2 months since I bothered to look at this and what do u know it’s still falling !! No further info on recent contract and no new ones like was promised,shambles
Agree johnpwh. Not going to get to placing price in near future . Where are contracts c?
10p? That much! I only look on here because I believe this is where news will be posted in the unlikely, sorry very unlikely, event that Fox Marble will win the court case. I'm not holding my breath. Anything associated with that nice but dim muppet Gilbert is doomed to failure. ECOB never even got out of first gear, in fact I'm not even sure the engine was started. Total scam.
10p in coming
Has this much lower to go anyone know? seems like a good investment and am researching the modular build sector which seems quite fragmented. Also this firm seems linked-in to Zenova Group which is also not a shining star, but undervalued investments are always welcome.
My words were the website seems rather s p a r s e!
seems fairly positive to me. would like more info though. website is rather sp**** and very little news comes out. it is of course early days so hopefully that will change. the comment about fox stabilising was interesting. we've heard nothing for a long time.
So he is being fired and it certainly looks like its for cause based on his PERSONAL conduct, as I suspected. As for the Don Nicholson-for-Andrew Allner, not sure yet. Allner is not rushing off and will provide a transition period, which is encouraging, and both he and Nicholson have both had substantial industrial careers. In addition, I never crossed paths with Andrew during fundraises for Fox or Eco, so I don't think he was in any way intimate with the day-to-day engineering operations. As for gravitas, the Company still has Mark Lyall-Grant as (I believe) senior non-exec so I reckon the Company is still punching above its weight with the quality of its Board, which augurs well for the future .
Full commercial production must be near
A good rise coming soon.
Hard to buy
The best nobhead has is that the timing of the move from the Gulf to the Balkans went back! Any company with a major project will get unexpected delays. It's to be expected.
What a wally!
Yup. Having to assert your relative 'success level' to a compete stranger on on a manky financial board, is indeed a classic means of evidence, nobs. No damaged-ego-breeds-fantasy-claims to see here. Still, despite the absolutely bulletproof demonstration of your bone fides, nobs, I still can't help myself continuing to re-read your fantasy CV. 30 year career in the City, huh? And yet you knew nothing of the problems at PKF, which anyone with 30 minutes of experience would have. Got it.
You don't intimidate me SLY and Bluerill I certainly didn't read from your CV, mine, I am sure, has been more successful.
Yeah, nice try, nobs. `You certainly read from a CV alright, but I think you were copying off my paper. And it's precisely because of the vast imbalance in our respective abilities that I've been able to out you so quickly. Anyway, I hope you've enjoyed your time as c-ck of the walk here exploiting your bit of inside information from your brief time with the Company before you were most likely sh*tcanned, because its about to get a whole lot harder for you to cosplay from here on.
Bluerill go easy, you will burst a blood vessel. Let's be clear I have never worked for this business or any business associated with ECOB. I draw my experience from over 30 years working in the City for funds with a background in multiple investments across multiple sectors including construction. I don't know who you think you are talking to but you are mistaken like most of your posts on here. I am content this morning that I have wound you upto the point of a heart attack.
'....you are right that they have completed the tasks set out in the admission document but the problem has been timing,...' It's like trying to argue with a Trump supporter, only dumber. That doesn't even remotely conform to your position towards the Company these past months. All you've done to date is engage in wild speculation regarding everything from the auditor-led suspension to production milestones that consistently pushed as negative a narrative as possible, and you've been wrong wrong wrong. Now all of a sudden, when the evidence of positive progress is irrefutable, you're conceding the Company is delivering on its promises (btw, still waiting for that apology on your auditor-led suspension faceplant) and the real concern is funding?!?! Move the goalposts much? As I've already written, its apparent that the further you get from your likely (brief) time with the Company, the weaker your information becomes which, combined with the bitterness borne of whatever wrong you feel was done to you, disrupts your remaining brain cell from even helping you appreciate what a senseless hypocrite you're being.
I have absolutely no idea what you are babbling on about Bluerill. Money paid to me? Clearly you are mistaking me for someone else but it is interesting that there are disgruntled employees as well as disgruntled shareholders and they are the company is trykng to claim money back, clealry there is a cashflow problem. BTW my band of dim witted chums (Fox, TT, Bluerill) you are right that they have completed the tasks set out in the admission document but the problem has been timing, it has taken longer than planned as deadlines are not met. TYerefore it has taken longer than originally planned to get to revenue generation and more importantly profit generating. Also TT open your eyes and read the administration doc, CG is on the Board, he is a strategic advisor with share options and a £96k a year job. The inconsistency makes me laugh Bluerill and SLY, DR was the best thing since sliced bread, now you are happy he has gone since suspension. You three have made me chuckle this morning.
since i've never been a fan, i only highlight the positive piece tw has written in his year-end edition of *************, because no one else here has. for one thing, he echoes closely my theory about redfern, which is a nice to see. having satisfied himself that there was nothing financially sinister behind the redfern announcement, tw then goes on to reveal that he 'understands' that ecob's current trading is 'as expected' as the company begins 'fulfilling an existing order book of an expected e114m for the next 3 years'. then, after noting again the current competitive advantages of ecob's production process, tw reiterates his 'buy' recommendation, noting that he expects 'double digit millions of euros profit potential from just (my emphasis) the group's current positioning......as cash flow is announced as really starting to kick-in, and further contracts are won, we expect the shares to spark.....' sorry nobs, guess he didn't get your memo either.
Truro - The theory behind Redfern's suspension (and likely dismissal I would assume) was covered well on the other board. Since the market rules are very clear on these matters, and no NOMAD is going to risk sanction (or worse), by far the most likely explanation is personal misconduct by Redfern serious enough to warrant immediate suspension and a review by the rest of the board. If there were any connection to a breach by the Company or any financial impact, it would have had to be disclosed, which would more than explain the lack of an adverse share price impact. In fact, seeing as nobs, from his extensive 'research' (ie., he worked with him for 5 minutes), revealed that Redfern was a toxic waste of space, there's probably an argument for the sp to rally rather than fall!
I must say nobs has some odd stances. He firmly believes CG is on the BOD and also owns the company!! He doesn't acknowledge the fact that CG has protected the rights of previous Fox shareholders re the arbitration proceedings.
Basically ECOB has delivered on the Admission Documents. And so far that's it. Can't quite see what his problem is?
Now if he was really in the know he could let us know about the Director suspension. Which incidentally has not yet affected the SP and that surprises me. Oh well - time will tell. My bellwether here is Sir Mark Lyall-Grant. He's far to big a fish to be involved if there were any skulduggery or incompetence.