Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
6 Weeks ago we were told Jason and his team were to busy to hold an investor call (significant activity). Clearly this busy period is ongoing and is currently stopping any investor board update. Rather bizarre I dont think a top 250 company would ever do this??
"Due to an ongoing period of significant activity for the Company's management team, the investor conference call, usually held on the week of results, will be held in Q2 2023, when management will be able to provide a more detailed overview of activity to shareholders and interested parties."
So with all this activity I hope we end up getting a wonderful update on this significant activity across all projects together with the details on how they intend to finance the future....
My guess is a trade partner......
Hotfinance
My email to Jason is a little negative so apologies, was sent after months of frustration and little of no news....
Dear Jason and Andy
Firstly I know everyone at QED has been working hard and diligently over the passed years.
However the results to date are very disappointing.
Multiple fundings over the year, recently attracting some II only to see them downsize their holdings very disappointing.
Year after year of projects not being turned into commercial revenues.
The passed few years great hope put on 3 and now 4 different project around the world with no commercial certainty with significant delays on all the milestones being achieved.
Key employee deciding to move onto new adventures.
The BOD having no control over project deadlines, resulting in numerous published deadline not achieved
Will the future just be more of the same?
Just maybe it may be worth exploring bring in a significant partner to help you get these project over the line. They would give you financial certainty, commercial and negotiation clout and no doubt many more commercial opportunities. Initially as a minority strategic partner. I know this is not a simple exercise but has it ever been looked into?
The BOD creditability is waning fast.
QED’s product are fantastic and should have been commercially available many years ago helping improve the environment this is what all the shareholders have bought into, together with the returns this should bring.
Jason particularly deserves success along with all other employees but you must ask why is this not happening the world is getting warmer by the day. Yet no entity is really partnering with QED, we cant keep living on promises.
To say the obvious please sort it out do something different give us hope not just more of the same extended deadline.
Good luck
Thanks for your email and noted your disappointment.
There are things that we can control and things that we can’t (II redemption requirements, Covid and employee retention in a competitive market being some).
Turning projects into commercial revenues is though, and that’s our focus for 2023 as we appreciate that repeated fundraising is not sustainable, unless for growth.
Noted your suggestions below, all of which are in our minds. Rest assured we’ll strive this year to make 2023 one to remember for shareholders for the right reasons.
Thx, Jason
TechyRob ...If I had no shares in QED it would be tongue in cheek
Willswag
Good point adds to the excitement :)
I agree with you Hotfinance this will not all happen in Q2 2023 this is what Jason posted
· Valkor expects drilling permits at Asphalt Ridge to be awarded in Q2 2023, with low carbon intensity, low sulphur heavy oil to be extracted and available for conversion to MSAR® and bioMSAR™ for trials during H2 2023.
· Following successful results, these trials would then be expected to lead to commercial supply of MSAR® or bioMSAR™, subject to discussions with stakeholders to finalise agreements.0016
So if the trial is Late H2 it could run through to 2024
From Jason:-
I look forward to being able to announce material progress across our projects in coming months and over the course of 2023.
Quadrise expects to complete the site trial in Morocco, conclude a Licence Agreement with Valkor, complete a HAZOP for marine bioMSAR™ use and progress tripartite discussions with MSC and a feedstock supplier during Q2 2023. Conclusion of the Valkor Licence Agreement would deliver commercial revenue in the current financial year, but further funds will be required to see each key project to commercialisation.
A Fuel Supply Agreement with the client in Morocco, site trials in Utah and the commencement of commercial scale trials on board the MSC Leandra would then follow in H2 2023.
Quadrise has recently signed a Letter of Intent with a central American power provider outlining plans for a commercial test of MSAR® and bioMSAR™ at the provider's power plant. Discussions are ongoing and the Company expects a Test Agreement to be finalised during Q2 2023 ahead of a site trial followed by entry into a Fuel Supply Agreement upon success.
So we should/could have a positive update through Q2 on all the different projects. This could all happen before a funding round. lets keep everything crossed that the next few months are going to be transformational for QED. Its why i have stayed invested now for so long.
Im not 100% sure how long ive been a share holder but over 10 years.
We have weathered all the ups and downs together over the years but I think 2023 will be the year.
The BOD will strive this year to make 2023 one to remember for shareholders for the right reasons. They are under immense pressure to move the company onto a commercial footing.
The external pressure huge polluters are under has never been greater to sort their emissions out.
I really think everything is becoming aligned feeling good about this year :)
Maybe like me some are selling to re-purchase into ISA
Great News fingers crossed
In reality we have had no news for so long this RNS was just waiting to be posted all of the news is obvious. I've posted in prior months additional funding was needed. I ranted my frustration now im going to make a coffee and enjoy the day.
What has really been achieved in the last year?
We have been promised so much.......
Can this BB ever generate commercial revenue?
Barking
Happy to wait to the end of April which will really be Q2 (May or June) on passed performance.
I wiated over 10 years so whats another 30 or 90 days
Sprinterminter
Sit back wait a year and report the same message, you will be AMAZED Ive seen this style of message so many times over the years
I've said it many times over the years but BB should sell.
The route I would go down is sell a strategic stake to a major or a commercial partner, with a buyout 5 years+ down the line.
MASR is a wonderful product the small QED team have proven that they poorly funded business has no commercial clout. They need someone big behind them the end result may not be as good for all shareholders but it could still be very substantial.
QED Summary
After 2-3 Years of being promised that they had enough funding to see everything through to communalisation guess what its not going to happen. Fully understand why the 2 major II have sold down
All projects Delayed. What is going on NO REAL URGANCY is the world not getting warmer? Why cant the management team get anything correct. Very disappointed don't believe any of the new deadlines all credibility with the BB has gone.
Has anyone read the RNS and seen anything that's remotely believable??
Quadrise Plc ("Quadrise" or the "Company" and together with its subsidiaries the "Group")
Interim Results
Quadrise Plc (AIM:QED), the supplier of innovative energy solutions for a cleaner planet, announces its unaudited interim results for the six months ended 31 December 2022 and provides an update on developments during the first quarter of 2023.
FINANCIAL SUMMARY
· £2.6 million in cash reserves at 31 December 2022 (31 December 2021: £5.6 million).
· Loss after tax of £1.7 million (2021: £1.5 million). This includes production and development costs of £1.0 million (2021: £0.7 million) and administration expenses of £0.6 million (2021: £0.7 million).
· Total assets of £6.4 million at 31 December 2022 (2021: £9.3 million)
BUSINESS SUMMARY
Each of the Company's key projects in the marine, upstream and industrial sectors continue to progress with further milestones expected to be passed in Q2 and the second half of 2023. Quadrise's strategy remains to focus on these key projects, as detailed below, which provide the fastest and most material pathways to commercialisation. The Company still expects to deliver commercial revenues in the current financial year, although further funds will be required to see every key project through to commercialisation.
https://www.quadrise.com/
Not yet working fully
Tried this morning to see the RNS's and was asking for a password?
Is anyone else having the same problem or is it my computer??