The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Any wonder Palumbo could walk into a better paid job with his track record.
EQT Market CAP £3.72m an all time low today.
But it's all the market and legacy issues fault init David.
You might find the BOD are that daft looking at what they have done
Maybe they are trying to get this down to a penny so they can claim thief 1p bonus lol
Nothing would surprise me with this lot
Everytime "Lies through his teeth Vander Linden" opens his gob, whether on LinkedIn, X or in person the share price drops by 5%.
Nobody believes a word you say Jeff, everyone looks at your posts and has to try and think what are you actually saying, what are you covering up?
Https://twitter.com/eqtec/status/1778709968042000729/photo/1
"Our cleantech gets ever cleaner!"
Yeh looks bloody too clean!, how about not sitting around polishing a turd, but actually putting some feedstock in those input conveyors, what an utter idiotic post, we don't want to see shine, we want to see dirty working equipment, not staff being paid to generate nothing again !
Yet another fantastic week for the BOD and their loanshark "strategic investors " keeping this POS afloat while with Palumbo and JVDL pocketing €6k each up from €4k when they started awarded by their ex labour MP chairman buddy.
Palumbo was pumping out from the rafters he had a Rolls Royce car in the makings and we ended up with a clapped out broken down £50m+ sh 1tty Trabant .
Twas all about Altair and the lifestyle.
Is it safe to assume Altair are on a free run here with all the nods on the placings dumps and warrants?
And of course his and JVL’s explanation about those ‘engineers’ - that if you want the best, you have to pay for it. The best, really?, the same ones that still can’t get Northfork fired up and all the others over the line in any time frame whatsoever and who’ve only generated a pittance rather than power.
I would love to know who’d snap this BoD up and pay better if they were to go and work elsewhere.
"i mean he is getting i’d say 90% too much yet there is nothing that can be done"
why do you think he has a smirk on his face every time we see his face?
realistically it's his ego that is catastrophic for eqt, he failed to stop investing in doomed projects with shareholder cash, he has failed to managed the cash he was given to pay the bills, and he has failed to size the workforce based on the work the company has on the table.
if we continue to spend cash on 27 high paid staff whilst not generating any revenue how on earth does he expect to pay the bills?, his answer is always sell some more equity, unfortunately for us all that vein is seriously running dry, pi's gave him £1.5k in the last open offer, hence he has touted his useless **** around the likes of verde and catalyst who don't give two thoughts to the health of the company as long as they make the pound of flesh.
verde won't happen now we all know that based on their history, so if we are in a position to palumbo must bin them off to gain any kind of credibility, another delay accepted would further signal desperation, and verde knows that unfortunately and are playing the idiot like a fish on a line.
Is he though
I mean he is getting I’d say 90% too much yet there is nothing that can be done
So some may say he is pretty clever really
I’d love to be getting paid as much as him to do such a bad job
I've come to the conclusion that Palumbo is incompetent.
Simms45, Computer909 - thank you both for your candid replies.
Realistically to only way to penalise the idiots is to vote against their re-election as a director, one of them must be due for reelection this year, I think it’s probably Dilution Dave and Yoel that are due for rotation election this year.
With the II’s dumped and Catalyst selling down, as long as verde don’t get their bargain bucket shares by the time the AGM is due in June I think we have a good chance of blocking Palumbo from being reelected as a director.
Everyone needs to vote and clearly show him we are far from happy with his shenanigans
Certainly no easy way to do so. First you would have to map out every RNS and webinar and comment from DP and then track it against what happened and probably prove any way DP and certain investors might have been colluding or with DPS knowledge. As i understand an example might be early Altair dump of shares that was hidden from pis and we were not aware what was behind the decline until we got an RNS. Was DP in knowledge of this and pumping the stock to enable Altair to extract cash for next placing? Apple was a big ticket item and rewards were high for investors to pursue. Eqtec was pumping like crazy and provided huge revenue targets that were totally for the Fairies. Proving he was not just a gung ho optimist and not doing matters to benefit himself is something else. Obviously a 98% fall from the top is a catastrophe and i am sure DP was never planning it as all his staff and hid ego will be knocked. This verde deal and the recent Catalyse dump causing more downward pressure on the shareprice is not helping. I have made more investments and these are now underwater because i bought just as Catalyse were dumping in the background. Again if i had known i would have waited. I am sure DP was aware however but kept to himself. i do sense a big turnaround because we do actually have contracts in play and plenty of sunk capital. I plan to invest more on back of some news but Northfork is very soon. I think Eqtec have not released until we know our stake in company so technically and in accounts we wrote off the whole investment. While frustrated and down i have invested and my target breakeven is a lot lower and i hope easily achieved on back of real news. The recent Logik RNS sounded good but thinking it through i suspect we will not see that cash as surely if the deal was going through end of April it would all be contractually drawn up. Also we still lost a chunk of money as the £1.7m is less than what we invested.
Dofmeister, C909, Simms, HH77, BeginnersLuck et al:
Is there a hope in hell of attempting a class action against the directors personally (not the company itself) for criminal negligence/misleading presentations/insider trading?
It was intriguing to read that Norfolk County Council Pension Fund successfully won a huge settlement from Apple for what may have been far less egregious behaviour:
https://www.europeanpensions.net/ep/Norfolk-Pension-Fund-secures-380m-in-class-action-against-Apple.php
I'm ashamed to admit how much I've lost - a life changing amount, in good faith on the basis of their statements.
If PI’s can find this info on Verde with a quick Google search then it’s obvious Dilution Dave and co must have known of this history and didn’t care, “any cash at any cost” is Palumbo’s attitude to raising funds and this is w he what sees the share price at these levels.
Smirking Palumbo and Lies all the time Linden have to go, along with half the staff that haven’t covered their own wage bill in three years!
I don't think Verde will ever become an investor. A quick look at a very recent court case in the US tells you all you need to know. Even Eqtec signed off the last RNS with a warning. Shambolic.
Ah well, thats ok, I'm only 98.6 % down. Behond caring!
Verde & Catalyst strategic investors…. PMSL!!
i don’t think many on here are hoping for a profit
il be absolutely over the moon to get of this ****e show any near even
Hoping that once the £2M from logik comes in the share price increases accordingly and I can break even and get out :((
Just asking but what are the chances of this heavily beaten up diluted company being took private with Palumbo et al having it all ? I do own some shares but not a massive amount and was just reading the Velocys debacle that went private recently.
"but DP actually cant take Eqtec any lower than £4m market cap."
EQT Market Cap.£3.81m now.
Never underestimate the destruction Palumbo can do , just give him time and he will destroy your money further. ( unless offcourse your a BOD ,Altair or one off his other "strategic investors")
@Simms , make no mistake if this the quality of the investor the idiot Palumbo is seeking EQT is in real trouble.
They have been gifted the tools to make massive amounts of cash whilst forcing the Shareprice down.
Many have been sat over the last couple of months wondering how someone can be selling at these levels and still make anything? They have sold 8m shares (800m in pre consolidated figures) at a loss, forcing the price down, they have clearly now taken that capital as a marginal spreadbet, which if/when they Shareprice recovers will reward them tax free, there is nothing stopping them doing it over and over again firstly with the remaining shares they hold and the next batch of gifts diluting Dave will give them.
But for now key info is our seller has stopped so we might recover some lost ground this week, especially with an update.
Totally agree 909 as Eqtec introduced Catalyse and lo and behold we find our share dumper. DP would have known this but pis, including myself bought in again above current prices. Issue is not so much my view of potential but more about investors who are in the dark not aware who of DPs investors are dumping shares. Todays shareprice is testament to DPs relations with bucket shop investors. I do not doubt we will probably be a £30-£50m market cap company later this year but pis have been diluted to kingdom come and i think these new investors combined have hoovered up 40% of the company for a pittance. I am wondering if DP is more connected to these parties than he lets on. Ultimately if he is not he is shooting himself in the head, except for his salary as his shares are worthless. I am guessing next RNS will be awards of boatloads of performance shares to get us back to £50m market cap, which is not hard to do if DP does not work with these types of investors. I personally think the company is now in a good place. We have almost no debt, revenue coming in and plenty of chunky returns in the pipeline that will come to fruition. Personally happy for Eqtec to take a month longer to recover so i can invest a little more and lower my average but DP actually cant take Eqtec any lower than £4m market cap. He is decimated the company and its investor base. For new investors it is very much worth a look over but so many investors left with disgust and do not blame them as some lost over 90% in a few years on DPs optimistic banter that sucked in so many investors. Its hard to say live and learn because DP was not trustworthy and his relations with so many investors that have fire sold Eqtec stock tells you a bigger picture.
* can’t rely on that count