Member Info for Castaway

I agree the first tranche is done and being forward sold and they can do nothing about it. I hope they cancel the CLN deal and get a normal placing away instead. Oh yes PREM cancelled theirs after a few months also - very few go the full distance!

There no evidence Jimzi - a lot do get cancelled thigh - VAST twice - TERN this morning - AVO. I n fact most seem to before their final conclusion - do the Bod really want 1.5bn shs issued this year? not IMO. They get told all sorts of crap about these deals from the broker who introduces the death spiral, they then realise it's a con and bail. Hopefully the EQT BoD do the same before more damage is done to our company!

scalp they cannot cancel the issued notes only further tranches the company has yet to issue.

lamp it would have been far better placing at .8p for 300 mil shs than this dea, which should have been possible - even a penny+ may have been. The concern I have is if they have got contracts that should have allowed them to get a decent placing as the broker who handles these needs a way to sell it to their clients - CLN deals are the worst on AIM endless dilution of shareholders and any experience won't touch a company who has a deal like this as they know any rise will be destroyed by the funder - this has to be cancelled after the first tranche. I have seen many of these deals over the years and they usually get cancelled as they are so damaging - it amazes me how BoD's still fall for them - unless of course they are personally paid to take these on.

I think the company has been fed rubbish by the introducer of this deal - the BoD are obviously naive or stupid or worse. I hope it does get cancelled and I bet they never thought the s/p would be destroyed like this. If it carries on by the end of it there will be well over double the current shs in issue, resulting in the main investors and the current shareholders being shafted. This is not a funding deal it is a way of robbing EQT shareholders and I think this type of LN deal should be banned.

I have had intimate experiences of 2 death spirals in my main investment share and I can tell you the forward selling went on for some time. The company cut it after they saw the result of the first tranche and got some sensible placings away - it is insider trading if the started forward selling before the funding RNS, they may have done it on the day of the RNS but the real selling started yesterday. as for the 5% from the RNS " 5% of the maximum nominal amount of Ordinary Shares which have been or may be issued " - I don't see that as nominal value of the shs, just a way of saying what the rough number of shs issued will be - it makes no sense to base it on the nominal value of the shs AIMHO

Well Jimzi I doubt they started before the LN RNS that would be insider dealing - there was defo a seller for a while who probably knew what was coming. Also as I read it, shs sold must be not greater than 5% of LN converted "or" 20% of daily volume - so I assume it has to be under 20% of vol (most of the time), or there is no point in the 20% rule atall, as 5% of all LN's converted is bound to be larger on most normal days. So I beg to differ I think they have done maybe 50 mil and there could be another 250 mil to go as I miscalculated again the s/p for conversion is based on the lowest s/p in previous 10 days so thats .75p today and 300 mil shs and warrants. I hope you are correct but I fear we have 2-3 weeks yet dependent on volume and news.

no make that 187.5 mil shs and 93.75 mil warrants @ today's close and it could get worse! - this is the worst death spiral I have ever had the misfortune to get caught in - I hope I get a chance to talk to the morons who signed this!!!

then warrants to sell - not sure if they will do the warrants now but they probably will. They can only do 20% of the daily volume, though I find it impossible to believe they are sticking to it! So they started last Thursday?, but more seriously yesterday, they have a lot more to do probably if we only do 45 mil vol like today. If the company release good news it will spread the process up, but you have to ask if they had good news why do this abomination of a deal?

Unfortunately there is no chance the FCA will look at this, even if they have broken rules (which is doubtful as they have a nomad) then it will be a minor infringement - look what happened to all in the NEW fiasco (and that was far worse) - not much!

Yes that's another thing i cannot understand why would the EBIOSS and the other large shareholders agree they are going to lose 50% of the equity in the company at this rate and the shs in issue could more than double with the warrants exercised. Was this planned (for some unknown reason that benefits them?) are they stupid or are they in such a poor position they had no alternative?

Northland will have arranged it - they did a similar deal in 2016 with VAST - that was just as bad but we got the BoD to bail after the first LN conversion with PI power - with the number of shs the company hold we have no chance here, unless the BoD are idiots and didn't realise this was going to happen - that may seriously be the case!

They know why the s/p is dipping - they will have sorted this great LN deal - they will be ramping it to hell to keep the s/p up - this is an absolute nightmare for PI's and has to stop - though not much chance of stopping it with the shares in PI's hands

Short squeeze No chance ;-) Not after last time in NEW

I can get an email to the company via my broker - I doubt they will respond to the info@eqtecplc.com I suggest we get together and make it clear this has to stop after the first tranche of LN's, god knows where the s/p will be by December if this doesn't stop now!

I agree with you guys this stinks - why not just place at a penny it would be far less painful - the BoD are either naive or stupid or worse and don't give a toss about their shareholders who are being totally screwed by this death spiral - this ahre has been ramped to death as well!

Bear - from RNS 21/12/17 The Company's current cash position is �2.4 million

Looks like the accounts took less longer to sort which is a positive. I do wonder about production levels which are not reported - not sure why all the secrecy is needed with our customer either? The Tantalum is now of good quality - great - how much did we produce then?

What I still fail to understand is how "visionary" Larry Harley Johnson can state the fact A KENV subsidiaries failure to get its accounts completed is not within his control! Who is the FD? did he bother asking (or checking?) and why didn't they know and get is sorted - 6 months is an adequate time - AFAIK all of the other AIM co's have managed it to get a/c's audited with African subsidiaries. It is going to be 25% of a year in suspension by the time the accounts are fully audited and the CEO says it is "outside of our control" - if that is what else is? - not good enough Larry!

So a publicly listed company is suspended for two months due to audit delays and it is quote for our visionary CEO " something that was outside of our control" WTF - of course it is within the BoD's control - they should have been aware of this - amateurs! If that is out of their control what else is!