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Whole of the stock market has taken another beating today, FTSE 100 down nearly 2%, with that in mind BRES has held up reasonably well, Will be forced to take some more if it does drop below 4.5p!
An absolute all time low, with Italy plant reportedly running (if you believe the hype), North Fork on the brink of operations, and a number of other plants generating revenue!
This just shows exactly how poorly Palumbo and JV Liar have managed the great "pivot", 90%+ down in a transitional year. and falling as no one has any confidence they can keep it afloat or won't take it private.!
Approaching £3M MCAP, if it gets much lower Logik would be better off buying the company than paying what they are owe, What an absolute Joke the management of this company are, shocking that two human beings consume more oxygen than they are worth. The great financial expert smirking Palumbo has destroyed this share and looks like the company too.!
Surely if either Palumbo or Vander Iiar had anything about them they would get out infront of the Verde/Catalyst debacle and attempt to steady the ship, without doing so they are broadcasting their contempt for the shareholders
smirking palumbo and "lies through his teeth" vander linden really do have a lot to answer for.
if verde fail to cough up again by friday and eqt still dont bin them off then that says a lot for the company's financial situation, i think we can safely ignore the bull**** from jv liar regarding wiping their own ****s every month with revenue.
the two in charge at eqt are just a pair of criminals, zero business skills and even less morals !
this unfortunately needs a change in management or appears to be terminal !
"DP and staff are also invested"
They haven't deemed it prudent to increase their holdings since the bloodbath caused by their partners investment strategy.
At the latest report i can find their holdings are:
YA: 2.1M
DP: 750K
JVL: 280K
IP: 72K
Apart from Yoel all of them put together hold less the £25K worth of stock, hence they don't really care what happens to the share price its all about cash for their salaries. The perfect storm of all their "strategic" investors selling at any cost has pushed us to the point of oblivion.
No number of LinkedIn reposts from the idiot JV Liar will arrest the issue, we need to see revenue growth and a commitment to not dilute any further.
@Almostdone, Yes DP continuing to issue equity to partners under his sphere of control would be a major issue with regards the 75% vote, the only good thing about them selling down constantly is they are not accumulating so the percentage he controls is not growing.
@Simms, Palumbo and Vander linden will screw up any update we get, they just can’t give straight answers if their lives depended on them.
Palumbo will be desperate to get the verde deal done because it will put another 20% of the equity in hands he can directly influence.
As with everything tweedle dumb and tweedle dee do news will be the last minute and ambiguous, leaving us wondering what the hell is going on once again.
Still don’t believe verde will happen, they are as dodgy as dodgy Dave our CEO, and clearly don’t have the funds to invest.
Roll on the AGM so we can vote Palumbo down as a director, his ego should take him away from the company altogether if that happens
They don't have the votes to delist at the moment (they require 75% carrying vote in order to force delisting)
They don't keep the registry upto date so it's difficult with all the shenanigans of off market trades to know just who owns what at the moment.
Everytime "Lies through his teeth Vander Linden" opens his gob, whether on LinkedIn, X or in person the share price drops by 5%.
Nobody believes a word you say Jeff, everyone looks at your posts and has to try and think what are you actually saying, what are you covering up?
Https://twitter.com/eqtec/status/1778709968042000729/photo/1
"Our cleantech gets ever cleaner!"
Yeh looks bloody too clean!, how about not sitting around polishing a turd, but actually putting some feedstock in those input conveyors, what an utter idiotic post, we don't want to see shine, we want to see dirty working equipment, not staff being paid to generate nothing again !
"i mean he is getting i’d say 90% too much yet there is nothing that can be done"
why do you think he has a smirk on his face every time we see his face?
realistically it's his ego that is catastrophic for eqt, he failed to stop investing in doomed projects with shareholder cash, he has failed to managed the cash he was given to pay the bills, and he has failed to size the workforce based on the work the company has on the table.
if we continue to spend cash on 27 high paid staff whilst not generating any revenue how on earth does he expect to pay the bills?, his answer is always sell some more equity, unfortunately for us all that vein is seriously running dry, pi's gave him £1.5k in the last open offer, hence he has touted his useless **** around the likes of verde and catalyst who don't give two thoughts to the health of the company as long as they make the pound of flesh.
verde won't happen now we all know that based on their history, so if we are in a position to palumbo must bin them off to gain any kind of credibility, another delay accepted would further signal desperation, and verde knows that unfortunately and are playing the idiot like a fish on a line.
Realistically to only way to penalise the idiots is to vote against their re-election as a director, one of them must be due for reelection this year, I think it’s probably Dilution Dave and Yoel that are due for rotation election this year.
With the II’s dumped and Catalyst selling down, as long as verde don’t get their bargain bucket shares by the time the AGM is due in June I think we have a good chance of blocking Palumbo from being reelected as a director.
Everyone needs to vote and clearly show him we are far from happy with his shenanigans
If PI’s can find this info on Verde with a quick Google search then it’s obvious Dilution Dave and co must have known of this history and didn’t care, “any cash at any cost” is Palumbo’s attitude to raising funds and this is w he what sees the share price at these levels.
Smirking Palumbo and Lies all the time Linden have to go, along with half the staff that haven’t covered their own wage bill in three years!
Verde & Catalyst strategic investors…. PMSL!!
Still under 5p, because for some reason we still have a seller looking to sell 100K plus chunks every day close to the bid !
Who? Don't Know
Why ? Certainly don't know !
@Simms , make no mistake if this the quality of the investor the idiot Palumbo is seeking EQT is in real trouble.
They have been gifted the tools to make massive amounts of cash whilst forcing the Shareprice down.
Many have been sat over the last couple of months wondering how someone can be selling at these levels and still make anything? They have sold 8m shares (800m in pre consolidated figures) at a loss, forcing the price down, they have clearly now taken that capital as a marginal spreadbet, which if/when they Shareprice recovers will reward them tax free, there is nothing stopping them doing it over and over again firstly with the remaining shares they hold and the next batch of gifts diluting Dave will give them.
* can’t rely on that count
Well that just shows the kind of “Strategic” investors smirking Palumbo has been dealing with, Catalyst sell down the share to an all time low and they spread bet long that there will be a recovery, This is pure market manipulation facilitated by Palumbo gifting equity to anyone who had a few coppers.
The only good thing about this situation is that these shares are probably in investors hands that aren’t in a Palumbo’s ‘insider’ circle so come an EGM for the Verde debacle Palumbo can rely on that count
They are securing contracts that will generate revenue, the big issue is Palumbo didn’t adjust the outgoings to match the income, so to pay the difference shareholders have been forced to pay, and the master financier Palumbo has inflicted double pain by gifting his mates cut price shares and warrants, instead of managing the pots of cash shareholders gave him to see the company through the “pivot” and the shocking market.
His z-list mates have shown zero control and even less respect to the company dumping their shares like hot potatoes.
Palumbo’s position with shareholders other than the z-list pals is untenable, he must go for the shareholders to regain any confidence in the Shareprice, too many shenanigans have gone on for him to remain surely.
The issue though is he has diluted shareholders so much that his mates now hold the whip hand when it comes to any shareholder vote, he can basically do anything as long as it benefits those chosen few
The company isn’t doomed, the fundamentals are pretty sound, unfortunately it’s being mismanaged by Palumbo and co, we just need to bin that dead weight!
Again referring to Palumbo’s comments again from the 2023 AGM, Dilution Dave refused to cut overheads by reducing headcount, he stated that out of the 27 staff 20 were engineers, and it was important to keep these valuable staff, this would be true if there was revenue flowing in order to pay their salaries, Palumbo’s arrogance has seen shareholders foot the bill inorder to have these expensive engineers sat doing nothing.
There is also an interesting point made by Vander Liar that the management remittance levels were in line with similar sized companies, when compared to companies worth £150m or less, well I for one think this needs reviewing again comparing to companies worth £5m or less!
I think most investors are asking "What the hell is going on with EQT?"
Well i have taken the time to have a look at the screening of the 2023 AGM and particularly the Q&A session at the end.
https://www.investormeetcompany.com/meetings/2023-agm-proceedings-2
at 01:02:40 Palumbo is asked the direct question: "Does the management have the intention of taking the company private?"
Smirking Dave's answer: "Not at this valuation", but the rest of his answer is pretty damning for him and how trustworthy he is,
"It is no secret being a small MCAP publicly listed companies restricts the type of investors you can go for, and strategic investors are not geared to deal with a public traded company. We are looking at an alternative to set up private vehicles where they can invest with the licensing of the technology is exactly to prevent or address that requirement, we will not, it makes no sense to take the company private at this valuation, but we are looking at how we can benefit from attracting that type of capital in a private vehicle that is not necessarily the listed vehicle, and as we more more to being a licensor, we can license the technology to that private vehicle, where capital can be put into the company without being dilutive for the shareholders"
So that was 21st June 2023
So what exactly is going one with EQT, why has all the investment since been dilutive, why have we not seen meaningful investment from the BoD themselves, what happened to the private vehicle mechanisms to prevent dilution, every word that came from Palumbo has turned out to be a lie, The company is now 80% lower than when he made that statement and investors have been diluted by a further 60%.
Can you trust anything that passes either Palumbo's or Vander Lindens lips ?