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With PKF exit will the new auditors have the books done on time ? Will there be another suspension on the horizon ? Will they actually release any info that might show progress any time soon ? Getting a little fed up with the lack of info and the price being on its knees since the RTO
We are now halfway through Q2 and still no sign of full scale manufacturing from Durres or even a house having been built. I think Bluerill promised us walls in Q1. Cannot wait to see the latest financial figures.
Have they actually built a wall yet let alone a house? I think not. From recollection, this business model was built on fast scale up factories designed to build quick, easy and cheap houses in emerging markets. 12 months on from RTO they have 1 broken wall to show for it.
I think TT it is a case of damning them for not. They harper on about the EuR115m contracts in the Balkans but it is quite clear they are not delivering against them, so what is the point of banging on about them. As per your post in response to mine previously, that is fine because these investments incur delays. I Think Jo Jo is pointing north out that they have had a year to get their s#£t in a sock but still haven't. Will you be pumping in money at the next fundraise ro support these jokers further? Oh look, more good news from the market https://www.constructionenquirer.com/2024/05/09/modular-builder-tophat-managing-director-departs/
Jojo, in your 3rd May post you seemed to criticise ECOB for repeating the contract news. Now you are blaming management for no positive news flow. You damn them if they do and you damn if they don't. What are they supposed to do? Next month is the half year so an update would be welcome then - but it might not all be positive!
It’s almost been a year since the RTO and not one bit of positive news flow to move this stock off the bottom that is if this is the bottom shocking from management to allow this
PKF is a something of a disaster area. This week alone, around 8 companies had to suspend their shares because PKF failed to complete an audit on time, which some on this board pointed out at the time was the reason ECOB had to suspend its shares as well soon after it re-quoted upon the completion of the RTO. PKF's inability to properly staff their audits is now one of the worst kept secrets on AIM.
Ok, I read that they had resigned, but that term as used in auditing speak may have given a wrong impression
JPWH, I think you have misread the RNS. The company has chosen to change auditors (presumably because of well documented problems the auditors had with staffing leading to delays in the audits of numerous aim companies). It is a standard requirement for the outgoing auditors to confirm there are no issues with the company, as far as they are aware
Bloody hell, cant even keep an auditor now.
'PKF have confirmed that there are no circumstances connected with their resignation which they consider should be brought to the attention of the Company's members or creditors'.
Yeah right, what they mean is that they ain't going to do any work when there is a good chance they wont receive payment.
Love how every rns released they feel the need to state the 2 secured contracts and how much there worth but have we seen a penny from these yet ?
The high likelihood like many others now is they’ll say no value of AIM and they’ll delist, management buyout and disappear
Thanks TT for your comment. I am in complete agreement with you but where I draw the line is where shareholders are misled. That is what I have a major issue with.
Their are various posters here who castigate Fox/ECOB and their Directors both past and present. But they took risks when they bought their shares. Risky investments can bring high rewards but also high losses. Shares on AIM can fall as well as plumet.
Risk 1. The AIM is considered a junior market and is less regulated than others.
Risk 2. Both Kosovo and Albania are considered to be less stable countries that have a higher level of risk than Western European countries.
Risk 3. Both Fox and ECOB are start-ups and profitless and have been so for many years. Inevitably luck will play a part if they achieve success.
I'm not trying to start a war here but we are all responsible for our own actions and have to live with the consequences of them.
These shareholders, presumably, volunteered to buy the shares. It was their own decision. There should be no surprises at various delays, cash calls and set-backs. The responsibility for their situation is largely of their own making.
TT if your talking about the tiny little rise from the 52 week low of 10.25 then it’s barely worth getting excited about considering where it’s fallen from I am not seeing any progress worth any form of excitement or any to change my opinion on this company as of yet
All I have seen is it decimation from its ridiculous RTO price so until I see a noticeable and sustained rise in share price and value return on my money my view will not change
Ultimately they build houses with their walls, where is a picture of their first house built with eco buildings walls? I think we have been waiting long enough. As mentioned before there is no indication that these contra ts are being fulfilled just rns on board changes and standards being achieved in other markets, focus on these two contracts and revenue generation would be key. From my recollection this year what have they actually generated in revenue TT?
Nobby,
I don't think your quite right. ECOB produce walls and ships them to a customer and, as I understand it, the customer does the actual building. I can't recall any talk of ECOB doing any building? I could be wrong of course.
Any houses built yet? I thought we were expecting the first one in Q1. After all this is a house building company.
JoeJoe,
I'm uncertain If your post today refers to my post of the 18th. If so look at the share price history for that date and all will be revealed!
Still no one is buying this garbage
Not sure what rise your talking about as I don’t see no price movements
Hi unvrkw,
I too am sitting on a large loss which is exactly why I'm averaging down. Todays rise shows that there is at least a little interest!
As for Fox it is presumably still going - bonus if it is I think. There possibly could be a bit of arbitration cash as well as another bonus. What with earthquakes, wars and floods ECOB could just be in the right place at the right time. Worth a punt I reckon.
My comment is in jest by the way truro!!! talking from experience I've lot's a cash in here too and sitting on a 97% loss which i have a strong feeling will never be recovered
Jesus Truro you stay well away from this you've been in this share for far too long and given it to much of your hard earned cash.
if you need a share i'll give you another one but let fox go and buy another.
I got here through Fox and have very little knowledge of the modular building market. But what little I've seen I think ECOB is one of the simpler systems to operate. I am heartened by the Chile certification which we seemed to pass with flying colours. This can only give confidence to prospective customers.
Might just raid the piggy bank for a small top-up.
Https://www.londonstockexchange.com/news-article/ECOB/official-certification-for-latin-american-markets/16428716
The 'start' accelerates a bit more. Chile is clearly being advanced in parallel to Albania so this certification is notable for that. The next update will hopefully turn back to Albania and deliveries into customers.