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EQT have had projects reportedly close to financial close or even "imminent" for years now so wouldn't hold your breath for any news on that front anytime soon, everything Vander Linden says has to be taken with a massive dose of salt.
The idiot Palumbo has hobbled this company share price to these levels for years to come with the z-list lenders and the millions of bargain basement warrants he has issued, and he wants us to approve gifting loads more. There are warrants outstanding to the z-listers and incentive schemes all the way up to 7.9p, it would take a seismic change in fortunes (and management) for this to breach that point anytime soon.
Logik court case now looks to be a massive gamble from Palumbo with Logik counter suing, so that could all blow up in the idiot Palumbo's face. It would be interesting to see the details of Logik's counterclaim and to find out just how poorly Palumbo and the idiot JV Liar are to do business with.
If the France news drops all bets are off. One of those projects is €40m and we are barely £4m market cap. This is just one of a dozen projects in play or close to financial closure. Certainly getting exciting but equally hoping the current share price is around in next few weeks so i can top-up. I thought Interims should be out this week but maybe with their recent simplification of debt they have not had time to finish.
EQTEC plc is pleased to share its progress with IDEX Groupe on the France Market Development Centre (MDC) near Villers-sous-Montrond, in the #Doubs province of France. EQTEC plc engineers in December 2023 finished the original scope of #frontendengineering design (FEED) and have since then collaborated with IDEX Groupe on additional value engineering for price optimisation of the project. This work will provide owner-operator IDEX Groupe with the technical information to take the project to its Final Investment Decision (FID) and the start of retrofit and construction. EQTEC plc is the core technology supplier for #FranceMDC and this is one of two projects it is pursuing with IDEX Groupe. #wastetovalue
An EGM for permission to issue more equity every three month is not a good look for any company.
The fact that Palumbo fleeced shareholders in December waving the begging bowl around the z-list lenders is criminal if this strategic investment was even on the cards.
Good to get rid of the z-listers now, problem being the idiot Palumbo won’t think twice about going to them again and again and again!
Wasn’t it the purpose of this tiny raise to get rid of YA II PN and Riverfort who are loan sharks? Its a shame the share price came off the high of 3.1p at the open but while i cant stand the dilution and how that has properly cucumbered shareholders who are not able to average down we are at a bonkers valuation that for someone could be a very large multiple this year. How Palumbo and co have treated long term investors is shocking but today is an entry i am envious of as sadly my average is still coming down but we really need to see otherside of 10p that should come about from North fork, Logic agreement or even a decent interim projecting decent revenue from France, Italy and US contracts.
This is exactly what you get when you vote to allow the idiot Palumbo and JV Liar to issue more equity at the EGM, less than three months and they are back asking shareholders for permission to issue even more!
Where is the revenue generation Palumbo, where ?
This isn’t a refinancing exercise, this is the “Strategic investment “ we were led to believe Palumbo was bringing to the table when we last saw his smirking gob, the fact that the took the opportunity to fleece shareholders just that little bit more is the most telling thing as to the integrity of the duo currently in charge.
What is more damning than anything here is how quickly they have to refinance the previous re-finance. The gaps are shortening which is never a good sign.
People were questioning why they were effectively giving the business away when Italy MDC refinance was imminent; well here is your answer it is fairly clear hardly any of that 2.9m found its way back to them. They have never, as far as I can see, managed a single scheduled debt repayment.
The financial mismanagement here is simply staggering.
"Palumbo ain't going anywhere"
Altair planted Palumbo when they started investing in EQT, and basically forced him up the food chain to become CEO, we can only hope that Verde will bring in their own guy and we can wave goodbye to Palumbo, may take a while but lets hope his days are numbered.
Pearson is a completed knob, he's a non-exec director at Thames Water, and everyone knows what a shower they are, continually having to be bailed out by share holders, Sound familiar ?
Palumbo ain't going anywhere been here 10 years in various guises and gets the applause and backing from chairman Ian Pearson who incidentally was an ex Labour MP and minister,(so honest as the days long there then )
Ian Pearson credits Palumbo for introducing Altair to the calamity show here ( unless your a BoD , Altair or one of the other loanshark forward selling .
"investors")
As luck would have it for Palumbo and the BOD Ian Pearson is 1 of the 2 members in the renumberation committee .
Chairman Ian Pearson was/is an accountant also which beggars belief with the £50m flushed down the swanny here by Palumbo, but cute enough not to invest another penny here since December 2021 .
Barbar and Pearson both accountants milking the punters while avoiding buying
Very Clever chappies eh!
palumbo and co are so shi t at running a company that they are having to give 12% of the company away every 2 months just to "contribute to the ongoing working capital requirements of the group", this on top of cash in december and whatever they got from the italy refinancing (which could have been anything up to £1.6m).
what an absolute **** show, obviously the guy who invested £250k this morning thought that verde taking some shares at 4.75p would result in a spike, but everyone knows how palumbo and jv liar operate now, we have all been burnt before, it will need those charlatans leaving for eqtec to take off again i am afraid, and the sooner the better!
The people behind the "Special Situations Investor" are no other than the same people behind Align Research who have previously provided paid for "research" notes. I believe they have been paid in shares previously so may have secured a deal to buy a tranche of shares from Riverfort and YA at a discount - who knows but unlikely to hang onto them for long.
I had to Google what a Special Situations Investor was - basically someone who sees an opportunity buy low and sell high. No sign of what would drive such confidence in this company which reinforces my suspicion they got a discount and won't be holding for long - assuming they didn't even forward sell shares already. Otherwise they could just buy on the open market given how low the current price is?
Not got to the bottom of who the Verde people are yet so if anyone can share a link to their website it would be interesting to know.
"Imagine being £35k down in just a few hours."
Welcome to investing in EQTEC !
EQTEC plc is pleased to have completed the first stage of basic engineering work in December 2023 for Simonpietri Enterprises LLC (SEL). We are well underway with the second half of the work and anticipate completing basic engineering later this month, under the Technical Services Agreement we signed in November 2023. Following that, we hope to move forward with SEL by providing further engineering services and equipment supply a plant that would convert 15,000 tonnes per year of wood #waste into #syngas, which in turn would generate up to 2MW of electrical power for an organic fertiliser production facility and demolition waste sorting and recycling operation
Imagine being £35k down in just a few hours.
£250k bought at 3.1p this morning to explain the jump. exciting times ahead.
Confetti Dave in just 5 years as CEO has diluted longterm shareholder to oblivion 4.5bn to 22.2bn pre the 1st of the multiple consolidations pending.
10 years in total involving Palumbo with his Altair tenticles .
Strange he stays here when he,d be much "better paid elsewhere "away from his EQTEC and Altair financial restraints !!
So lucky to still ave im ere.
As expected it tells us that the idiot Palumbo will run this company further into the ground, they had the perfect opportunity to engage with Altair , Pitcole and Verde and transfer debt/holdings between the two rather than dilute shareholders once again.
This just makes a clear statement that the still aren't making enough to wipe their noses every month and Palumbo still sees shareholders as a cash cow.
Verde investment will be a positive as a board representative may be able to reign Palumbo and JV Liar in a little, but with the amount of debt circling around the z-list lenders that is a tough job !
Might as well wait as nothing to loose.
USA could be next uptick too.
Not forgetting France.
So basically another 40 million share dilution
More hocus pocus doesn't look good for PI's imo.
What it says to me is that the post-consolidation dilution has started, and not in a small way.
The mere mention of Riverfort is a red flag, known for many years on these boards and a name synonymous with what some like to refer to as death-spiral financing. A lender of last resort.
As pointed out, where is the expected news on Northfork?
I suppose, when you've been 95% down for so long, it doesn't really matter in the grand scheme of things when the company continues to bounce along doing nothing of note to change their fortunes, despite all the flannel.
gla
Weird yesterday this was 2.4p? Not complaining we open at 3.0p. Its so painfully low even 10p would not do it justice and would anyone notice anyway. Time for Eqtec to bring out the interims and update on Northfork. 10p would not be unlikely if we get our stake known.
Can't see what you are on about, only buys at 3.10 and 3.19
So far.