RE: fund raise8 Dec 2018 08:50
Hi noose
It does make a ;lot of sense to me when reading between the lines
Primarily,
They obviously are not in a committed JV / contract with anyone that has $$$$$ attached otherwise they would not include the winding down bit ( Freepoint cant be owed any moneys otherwise they would be highly peeved of with an rns like that )
Secondly
They have admitted there is only enough funds to support a limited operational time ,( So no great wedge of £ to support any JV/Contract that might just might appear ) They don't have any infrastructure in place or finances to support a roll out in Marine or Power
If you were Mr O & G would you commit anything to a company that has miniscule assets,,no cash in bank after April 19 , they have been Barren for 10 years , On the verge of Death Spiral Finance , But worst off all they have let the world know they are ready to throw in the towel !!!!!!
Thirdly
It seems the Management have explained the current status to shareholders ( to there credit ), We need a cash injection by next month,and again in October, There is no guarantee we can generate an income before 2020
SO !
, If you dont agree to stump up that cash to pay our salaries ( again to achieve nothing ) upt to October ,Then again after that ( indefinitely without monetization / cash flow positive )
We will render your shares worthless !!!!!!
Not very fair or much sense to a PI who has supported the company for years and actually believed and had Faith in there Management, The product was a Dinosaur from Hugo Chavez days that had mega potential , grabbed by a few Engineers and entrepreneurs , transported over the Atlantic and touted as the answer to pollution @ Sea and Refinery leftovers
SO
It make sense to me - Obviously some PI,s will not let go and that's there prerogative, However Quadrise Fuels Ltd is now living on Life Support and the BOD have made it quite clear , Either stump up the cash Mr / Mrs Shareholder ,OR we go death spiral or complete Tits up,
Is the IP worth anything , I would have thought so ??????