I’ve only just seen this must have missed it but on the QFI under media tab November research from Edison really worth a read hope the link works
2020 critical year for QFI. They have a number of prospects which may or may not move to be commercialised. Having watched over the passed years a number of similar prospects fail at various stages for me 2020 is the last roll of the dice. I believe the BOD fully understand they now need to move the business onto a commercial footing, they had shareholders support over the years but I personally now need to see the business generating some revenue. Have a fun Christmas and new year everyone. Let’s hope we have something here to celebrate by the end of 2020
Does anyone think this will happen by EOY 2019?
"The second tranche of 10 million warrants will be awarded following signature, during 2019, of a disclosable project milestone with associated agreements to commence a commercial MSAR® trial in KSA and will be exercisable for a period of 2 years from the date of the SA."
Similar to comments at the AGM the proactive video clip endorses 2020 as the year both Mike and Jason hope to move a number of the current projects onto a commercial footing. I'm happy to support them over this period...I will sit back and watch with interest as to what happens. Good luck to them and fingers crossed we all have successful ride with QFI in 2020
Appreciate your reply personally I bought in big before and while the Maersk trial was underway. Once the trial was over sold 95% and had a headache with a six figure loss. Have always loved the story and thought one day the BOD would find some commercial future for MSAR so against my better judgement find myself holding a similar number for share as before however average price is currently 4.5p. My thoughts are I could easily lose the lot however one Middle East trial or one bunker confirmed and the domino effect could happen. I would real like to hear a very honest appraisal from the board at the AGM as to where we really are on all the potential partners with timelines
In the last 2-3 years loads of MOU etc have been announced. They are a good start however Nothing has happened with any of them. Even this year one was announced with additional warrants being issue in a September if by then they moved on to the next production stage. Nothing happened, deadline missed, no update as to why this did not happen. I think you should stop shooting down every slightly negative comment as many of us are LTH, on side and have huge holdings but we would like to see some tangible commercial partnerships moving forward with some speed to repeat what has been said many times.
35,000 x 390 x $50 = $682.5 million a year in savings, or $1.75m per ship. Very daft not to.
I could not agree more. So why has it not already happened with any shipping group already ....Must be something we are all missing?
Looks like Mike has read me letter which I also posted here a few days back.
"Finally, although we had a new video to watch at the general meeting most if not all of its content and the balance of the meeting was going over old news. At the coming annual general meeting I would request that you spend more of your time updating your shareholders on how and when the existing MOU’s are going to progress and demonstrate concerted commitment and energy on developing QFI onto a successful commercial business."
BP ... I would be happy with 15-20p sometime over the next 12-18 months. At 50p -£1 the company would be valued at £500m - £1b...... 30 times its current market cap nice thought/dream.
BTW 50p SP a few years back would probably have the same market cap today at 20p with the amount of new shares that have been issue recently
In the last 2 year the QFI board has agreed no less than 14 different MOU’s , Co-Marketing, SA,RA,MOA something is going to happen..SOON
Memorandum of Understanding with Freepoint Commodities LLC 18-Jul-18
Extension of MOU with YTL PowerSeraya 30-Oct-18
MOU and MSAR® Test Programme with a European Oil Major 28-Nov-18
QRF testing imminently once samples have been delivered, during Q3 2019 20-May-19
Co-Marketing and Project Development Agreement with Freepoint 30-Nov-18
Services Agreement ("SA") with Aleph Commodities Ltd KSA 26-Feb-19
Services Agreement ("SA") update with Aleph Commodities Ltd KSA 13-Jun-19
Representation Agreement ("RA") with Younes Maamar 06-Mar-19
Memorandum of Understanding ("MOU") with Bitumina Industries Limited 27-Mar-19
Agency Agreement (the "Agreement") with Hawazin Regional Trading Company 08-May-19
Memorandum of Understanding ("MOU") with API POLY-GCL Alliance Limited 13-May-19
Memorandum of Agreement ("MOA") with the Al Khafrah Holding Group 30-May-19
Agency agreement (the "Agreement") with Laqua S.A. de C.V 11-Jun-19
Memorandum of Agreement ("MOA") with a European oil refiner 12-Aug-19
Memorandum of Understanding ("MOU") with Merlin Energy Resources Limited 14-Aug-19
Sent to Mike yesterday will update if I get a reply
As a long term shareholder I’ve been very encouraged by the strategy of QFI signing numerous MOU over the last few years and I am even more optimistic now that a couple of them have timetables with grants of warrants.
However as I explained at the general meeting it was disappointing that it looked like the First KSA milestone was not going to be achieved.
I’m also pleased that yet again shareholders have dug deep and supported your latest funding.
I really think now is the time that all your efforts should be channelled into commercialising these signed MOU’s. Not least to make sure the First and now Second stage of the KSA is completed by the end of the year, allowing you to issue 10m warrants, as this would put the project back on schedule.
Personally I would put on the back shelf any other early-stage talks with new entities and put an emphasis into turning QFI into a commercial business.
Finally, although we had a new video to watch at the general meeting most if not all of its content and the balance of the meeting was going over old news. At the coming annual general meeting I would request that you spend more of your time updating your shareholders on how and when the existing MOU’s are going to progress and demonstrate concerted commitment and energy on developing QFI onto a successful commercial business.
Following the drones which attacks Saudi oil facilities do we really think these two grants are still going to happen?
· The first tranche of 5 million warrants will be awarded following signature, prior to the end of September 2019, of a disclosable project milestone in relation to the conclusion of an Memorandum of Understanding or similar with a KSA-based state owned organisation to initiate detailed planning activities for a pilot test for a commercial MSAR® trial in Saudi Arabia and will be exercisable for a period of 2 years from the date of the SA.
· The second tranche of 10 million warrants will be awarded following signature, during 2019, of a disclosable project milestone with associated agreements to commence a commercial MSAR® trial in KSA and will be exercisable for a period of 2 years from the date of the SA.
Int Investment Warrants
Bergen £2,000,000 £1,888,889
Bergen 2020 £2,000,000 £1,888,889
Additional Investor £716,800 £676,978
PI OO £1,800,000 £1,700,000
Total £6,516,800 £6,154,756
Total Raise £12,671,556
Not sure this will format correctly but am I correct if every warrant is taken up the total raise is £12,671,556 over the next 3 years?