Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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I've been invested in Eqtec for a long time and feel obliged to sign up as I'm just so fed up with the uninformed rubbish spouted by some of the posters. It's not a chat board at times, it's idiots like Foxyjoe, computer909 and others who can only think about their £5 contracts for difference exposure that they need to continue.
Well guys, you'd better start looking over your shoulder and wrap up those cfd's asap, it won't be long before this share is going for a huge rerate.
Down 94% since the AGM last June .
What a fantastic job Palumbo is doing delivering for shareholders.
Any wonder none of the BOD seem too keen on buying stock , they've even given up buying a token amount prior to the bi monthly dilution.
Well Palumbo yet again has managed to thrash the shareprice down to it worst ever price today thanks to his usual dilution RNS this morning.
The new pump merchants must try harder promoting this POS as despite all their tactics recently cajoling those with heavy loses to average down to catch the rerate Palumbo just couldn't resist another chance to fund his wages .
5 years as CEO and not 1 plant delivered by Palumbo running continuously or at a profit as admitted in last weeks RNS .
I don't know it , but hope the re-rate happens as my £7,000 investment is currently worth about £50.
".........is ostensibly the same in its tech and general prospects, yet in the same timeframe has done absolutely nothing"
And that my friend is the main issue with EQT at present, Palumbo has basically made it uninvestable because all he does is issue more equity to "partners" that seem to be willing to sell at any price.
The classic strategic partner "Catalyst" take shares at a an already criminal level, sell like a fire sale and then spreadbet long on a marginal and likely leveraged position.
The argument doing nothing compared to Palumbo's strategy would drive a 10x MCAP seems to be comparable to Palumbo's now hysterical comparison of EQT to google or amazon about 2 years back.
This isn't about the tech or the sector or even the green market, this is purely down to Palumbo's mismanagement and his continual gifting of equity to z-list "partners" just to pay his ludicrous salary.
*a rerate
Pander, you know perfectly well that the market cap of a company bares no relation to the value of a company what so ever. PHE is ostensibly the same in its tech and general prospects, yet in the same timeframe has done absolutely nothing. They have no property, no plants, few partners, no engineering team and no proof. Their cap is £40m. Ours is less than 10% of all that, despite 2 commercial plants running, 2 research plants, another days away, several more under construction and dozens of engineers. A related here isn't just likely, it's overdue and will happen. This company is worth more than PHE, by a huge margin and both of the caps need a correction. In a matter of weeks, the values will switch. You know that.
Thank you MyIPA.
I am an investor & yes with a very big loss.
I like & believe in the technology hence I will remain invested till the end when I may loose everything or get a good return.
I wish Palumbo good luck & fortune.
But it looks somewhat promising at the moment.
since the consolidation to 3p, down yet another 50% (almost)
I must be on the wrong drugs
Computer says no - look, I totally understand where you are coming from. The previous business plan did not go to plan - covid regardless - however even you, who has an intellectual capacity surpassing absolutely nothing animal vegetable or mineral in this universe, must have read the RNS about the pivot away from high risk high capex projects... which is where a lot of this debt has come from. How much of that is Palumbo's fault? It looks to me like he tried (just about pre covid - shafted lots of UK companies, and still is), worked out that it wasn't going to work and, instead of milking you like a cow until the end of days whilst waffling into his sherry glass, decided to change the company strategy as a CEO is able to do.
I was waiting for evidence of a turn around and we got that last week. In addition the £2mln is also a very welcome sum back from Logik who appears to have been on the wrong side of many companies - they also lost their legal case against EUA for example so that whole thing was certainly not EQT's/CEOs fault whatsoever.
But the long and short of all this is if you are invested and at a loss then you should have reconsidered your risk over the past few years as more information became apparent, and if still unhappy (partially) sold out at a loss and gone into the sunset head held high. If you are not invested but just doing some trading (or an attention seeker) or made errors you really have to be human and own them, but leave the honest investors alone we've been beaten up enough over the past 5 years.
That said if you weren't so challenged then maybe facts would not appear so much on this board in place of rebuttals to your posts.
Are we out of the woods yet? no. Is this the lowest price? uncertain - depends what happens between now and end of June. what MCAP will this be in 6 12 18 24 months? uncertain. Can I still sell what i have put in? yes. can I put more in yes. will I? that remains to be seen but it looks somewhat promising at the moment.
Just go Comp909 - your bellyaching is tedious
“CEO who appears to have done quite a good job getting EQT out of the fire”
Oh my god take a look at yourself, Palumbo’s poor planning and operational incompetence has seen a 98% drop in the company worth in just 3 years, such a fine job. What planet are you actually on?
Almost forgot - maybe you guys Computer909 and Foxy should consider where there’s a considerable amount of current scrutiny by the UK regulator following the SEC investigation - https://www.sec.gov/news/press-release/2022-221.
Jeez, Computer909 and Foxy actually use the same phraseology which is incredible given they’re different people! How about you concentrate on discrediting North Fork, California with its 28% holding of a sterling 20m + plant versus our current market cap. Then factor in they own the patent, they’re first to market and have global reach and let’s not forget have backing by huge industry players….
What's this?
Thought you were talking about dilution - which I have corrected your misleading statement on.
Then you talked about continuous plants - which Stiarno corrected the board on earlier today.
Then you talked about financing - where the company is in a much better shape than 6 months ago and looks like it will improve dramatically within 3-9 months.
Then you whined about the CEO who appears to have done quite a good job getting EQT out of the fire. Granted it isn't 60p but all of this depends on when you bought in so I can't help but state that your bitter feelings certainly won't help you with your investment. If you are invested. As, of course, you're likely CFDing it as noone one invested would bang on about things that you do after being corrected about them and purposefully misinterpreting RNSs.
I'd vote him back in. Company is being turned around, revenues on target, deserves not to have the boat or plan rocked as that would be detrimental to us all.
Try again.
GLA genuine investors
Bottom line is with Logik Payment expected end of may they still have to borrow to cover the working capital of 23 days !!!!
Palumbo is desperate to secure 50% voting for his re-election and doesn't care who he burns to get there !
Funny, Starnio address your Italy continuous run statement just this morning:
"
As per the recent RNS:
"...Operational requirements centred mainly on non-EQTEC equipment that appeared to be in good condition, even according to the relevant manufacturers, but which for various reasons were unable to run consistently. ....These challenges have now largely been surpassed....The plant now finds itself in a strong position to operate continuously and is due, after some significant maintenance, to restart in April 2024".
These challenges have been overcome, and lessons learnt. Italy should be running continuously right now. In the USA, Northfork is next to go online very very soon. Blue Mountain is next on the list, with many more similar projects in the USA, all with similar feedstocks to Italy. After the Italy experience, getting these plants up and running will be a walk in the park.
"
Uh, you do realise that the CEO kinda has control of the company here.... and the control is weighted across all shareholders, so, as the 4 you mentioned "under Palumbo's control" now have less control... so he has less control... Not sure RF are anyone's mates (from experience in GDR) - and this restriction to convert debt to equity at least until 30 June 2024 is a good lock in. By then business should have shown recovery. I am expecting more newsflow to come - confirmation on Italy continuous operation, location of 3rd plant, continuous run of Croatia's plant, France equipment orders.
Don't forget, this isn't a tech company, it's more an engineering company and to that end they usually have debt compared to other sectors as materials need to be procured, items manufactured, and whilst you may get down payments you don't see the profits until either various milestones are hit in the contract but usually at the end when it's all completed.
Existing shareholders have less control yes, but the percentage of holdings under Palumbo's direct control (Altair, Pitcole, RF and YA) has increased
· Steady monthly revenues being earned in Q4 2023 and Q1 2024, = Still not enough to pay the overheads and working capital needs, or Palumbo's and JVL's salaries
· Equipment sales and commissioning revenues expected in H2 2024, = heard that before for last 4 years !
· FY 2023 unaudited revenues of c.€2.5 million, in line with Company guidance, = Revised Guidance
· Italia MDC moving toward continuous and sustained operations = Not working continuously at present, and news on operations was only forced out by the auditors.
· Financial restructuring, cost reduction and anticipated conditional strategic investment, = Restructured wealth from PIs to Palumbo's mates, cost reduction of 20% but still 27 staff not covering their wages, Anticipated failure of strategic investment.
What a lack of knowledge and understanding. if the shares are diluted then existing shareholders (except for YA-RF in this case) have less control (and the longer aim is to replace YA-RF as detailed in the RNSs). And even then significant controls > 3% are (not updated with the 7% dilution as of today):
Altair Group Investment Limited (17.50%)
Pitcole Limited (6.44%)
YA II PN Ltd (5.55%)
Riverfort Global Opportunities PCC Limited (4.39%)
comedy gold.
Trading highlight:
· FY 2023 unaudited revenues of c.€2.5 million, in line with Company guidance
· Steady monthly revenues being earned in Q4 2023 and Q1 2024
· Equipment sales and commissioning revenues expected in H2 2024
· Italia MDC moving toward continuous and sustained operations
· Financial restructuring, cost reduction and anticipated conditional strategic investment
Add in to that Croatia, and the French plant estimated cumulative £15m revs to Q1 2025 at 30% margin... I think the turn around has happened as that was a solid update (and no new news today really that wasn't in the public domain, just the confirmation of the drawdown we were told might happen last week).
Yes conversion into shares = More voting rights under Palumbo's control
Computer says no - about the right intelligence level. Comparing you to a baboon is insulting to baboons.
500.... 245... and it's 200k of the EXISTING which is being converted to shares:
"Riverfort Global Opportunities PCC Limited has agreed with the Company to convert part of the OUTSTANDING balances of the YA-RF Secured Facility by subscribing £200,000 for 12,802,031 shares in the Company at an issue price of 1.562p per share, representing a 5.3% discount to the mid-market closing price of 3 May 2024."
lol
Drawdowns decreasing, now who is the Baboon?
£500K on Feb 13
£245K on May 5
£200K on May 8
Upon the earlier of (a) the closing of the Verde Subscription (update announced on 19 April 2024) and (b) the closing of the Logik settlement, the Drawdown (inclusive of fees and coupon) will be repaid to the Refinance Investors."
So it will be the Logik Settlement, they use to repay, but surprise surprise 7M warrants at 2.35p gifted, it's just a whirlwind of cash that ends up with the Palumbo's mates left with all their cash plus millions of warrants.
Computer - how about reading the RNS. It says:
"Upon the earlier of (a) the closing of the Verde Subscription (update announced on 19 April 2024) and (b) the closing of the Logik settlement, the Drawdown (inclusive of fees and coupon) will be repaid to the Refinance Investors."
Soo.... what you have posted it misleading and potentially market abuse by being exceptional selective. I suggest any reader of this board to read back through the RNS and make your own conclusion. But hey, don't let me stop you.
But then the 4 comedy musketeers quadruple teaming this. Where're the other ill-informed baboons gone to?
Ah wait! during time of writing one of the remaining baboons pipes up in a weasly, squeaky voice "but what about the positives?".
drawdowns decreasing, revenues increasing, pivot working. All factual, and also partially posted by one of the 4 baboon musketeers so no where left to hide there. good stuff
Try again
This is clearly about securing percentage of voting rights, The idiot knows he's at risk of not getting re-elected as a director and is willing to do anything to pump the percentage under his direct control
I'm waiting for the usual suspects to put a positive spin on the latest dilution.