Member Info for Computer909

Verde .......

Further to its announcements of 19 April 2024, 2 April 2024, 13 February 2024, 22 February 2024, 29 February 2024 and 11 March 2024 .............

We wait to hear from Dumbo Palumbo tomorrow, or will he wait to midnight in case Verde come through at the last second

"DP is not going to get voted out, his death spiral partners hold too many shares"

Do they though?, yes Dumbo has gifted them large proportions of the company but they have offloaded as soon as they get it, to my calculations they still have less than 40%, unless he can get the Verde subscription away he is very much at risk, why on earth do you think he paid them not to offload any more before the end of June.

Verde obviously won't happen so Palumbo must be getting very nervous that he has overplayed his hand and is now about to get burned.

PI voting apathy is Palumbo's best friend, PI's need to make sure they actively make the effort to vote him out, anything else is rubber stamping his behaviour.

We will get to see the end of Palumbo this year, I’m pretty sure he is up for reelection by rotation, everyone just needs to make sure they vote against him, he relies on the apathy of PIS not to vote, this year we need to make sure he and the gang are sent a strong message from shareholders that their actions will no longer be put up with

"Riverfort now have 12m shares for £200k but we are 20% down already on their 1/56 price."

Have you considered the continual issuance of equity to Palumbo's inner circle is more about immediate voting rights than a quick recovery of cash.

Palumbo is desperate to ensure that he gets the votes he needs to remain a director at this years AGM, and it looks like he will do anything to ensure he gets it.

“DP needs to stop this and now.“

He does but he won’t, he’s on a mission, a mission to what we wait to find out,

Exactly which bit is false or misleading may i ask ?

If you are referring to Verde , you still think they will stump up the money?, have you actually researched their track record, they have done this before and have been taken to court for it

Interesting posts here all day, once again its posters on LSE that have trashed the £250M+ company down to £2.5M !

Palumbo's inability to control overheads (his arrogance) and he penchant for issuing equity to pay for his incompetence has demolished the shareprice and looks like really knows no bounds.

27 staff including 4 Phd's, 16 Process engineers and laughable 3 experienced executives don't come cheap, it's absolutely certain the wage bill for the first half of 2023 was more than the £24k a month they actually generated in revenue !

Palumbo's laughable statement at the last AGM regarding salaries and staff leaving if not rewarded handsomely just sums up his attitude, he would rather them sit around waiting (paid for by shareholders) than lay them off, all well and good if you really have a pipeline of work arriving very soon but again JVL was lying about that it seems.

Much noise today regarding the £15M IDEX order and how that will turn the ship around, who on earth is going to give EQT an order for £15M worth of kit when they can't keep their heads afloat on a month by month basis, are we expecting IDEX to somehow advance a proportion of this cash into Palumbo's hands, looking at his inability to manages day to day financing ask yourself would you? what would it be secured against, equity ?

Until expenditure is grasped, and Palumbo is replaced with someone that has a clue the recovery is very far away, issuing equity over and over again is the sign of a startup company not one that is 25 years old.

We wait and hope to see what is next of Palumbo's corrupt activity list, one thing is for sure he and his select gang won't be sat at home this evening looking at the balance of their investment account and seeing -90%+

Verde is now a certain to disappear, the only question is how long does Palumbo string it along like the weak minded idiot he is before cutting them loose, Verde must be sat thinking even a lawsuit for 50% of the amount would look attractive at present.

Overall the most galling thing is Palumbo and Lier Linden still refuse to show their face, No Investormeet, no answers to enquiries posted via the website (since they removed the IR email address last year), No Twitter posts addressing the issues, No linkedin posts addressing the issue (although if you follow Palumbo he has began to show much interest in private equity investors!)

Show some actual backbone, grow some balls, if you feel you are doing a great job and we are all just missing something get out there and tell us, at the moment your silence and your actions are speaking volumes!

When is the AGM?

We can expect that to be the end of June, nothing stopping Dumbo Dave or his lying sidekick doing interviews with shareholders though, when was the last time you actually saw either of the pair stand up and address the situation, or actually respond to any shareholder query, investors resulting to asking questions on LinkedIn last week because of the disrespectful silence.

Looks like Catalysts shenanigans may have burnt them

That's what you get when two sets of charlatans face off against each other !

"That's it I've sold out at 1.3p"

Mcdonalds for Dinner tonight, blow the lot ?

The problem is management

PHE: No plan, no staff, no proof, no property, no plants, no chance, no overheads.

EQT: "pivot", 27 staff, semi running / running plant, number of projects underway, £400K per month overheads

The big but ...... PHE have cash in the bank, enough to buy EQT outright at current MCAP and still have £1M left over.

Palumbo's ultra financing and the refusal to cut overheads is the problem, and that cancer on the company needs to be cut out at the AGM !

The only good thing going for PHE is no overheads !

Palumbo must look to address the cash burn, but he is unqualified and incapable to run a company that needs some tough decisions made, he still thinks he can borrow his way out of trouble, the trouble being its not him that is paying it back.

Just come off an investor meeting with another company, who's CEO is the complete opposite of Palumbo, when the topic of funding arose he said "The worst thing a company can do for funds is to get in bed with a pit of snakes that demand a discount, sell the next day and ride the warrants". It appears that Palumbo wasn't paying attention on that day of CEO school!

Rolls Royce went to 44p because of a global pandemic stopped everyone flying so their business dried up over night, and they had to raise £2B cash to stay afloat, they didnt constantly come back to the market for more and more !

Comparing Rolls Royce the flagship engineering company of the FTSE to EQT the leper of AIM is just idiotic.

EQT has been destroyed by Palumbo's inability to manage budgets and deadlines, his refusal to reduce overheads and his continual issuance of equity at rates that cripple investors to z-listers that have no respect for the company or its shareholders.

Just remember that when you get a vote at the upcoming AGM to re-elect him as a director.

There is no bottom to the selling because the z-list know then can offload at whatever price and Palumbo will restock them when ever they want. Regulation of AIM is a joke and has seen most institutions refuse to invest in this market, EQT is a perfect example of everything that is wrong with AIM.

".........is ostensibly the same in its tech and general prospects, yet in the same timeframe has done absolutely nothing"

And that my friend is the main issue with EQT at present, Palumbo has basically made it uninvestable because all he does is issue more equity to "partners" that seem to be willing to sell at any price.

The classic strategic partner "Catalyst" take shares at a an already criminal level, sell like a fire sale and then spreadbet long on a marginal and likely leveraged position.

The argument doing nothing compared to Palumbo's strategy would drive a 10x MCAP seems to be comparable to Palumbo's now hysterical comparison of EQT to google or amazon about 2 years back.

This isn't about the tech or the sector or even the green market, this is purely down to Palumbo's mismanagement and his continual gifting of equity to z-list "partners" just to pay his ludicrous salary.

“CEO who appears to have done quite a good job getting EQT out of the fire”

Oh my god take a look at yourself, Palumbo’s poor planning and operational incompetence has seen a 98% drop in the company worth in just 3 years, such a fine job. What planet are you actually on?

Bottom line is with Logik Payment expected end of may they still have to borrow to cover the working capital of 23 days !!!!

Palumbo is desperate to secure 50% voting for his re-election and doesn't care who he burns to get there !

Existing shareholders have less control yes, but the percentage of holdings under Palumbo's direct control (Altair, Pitcole, RF and YA) has increased

· Steady monthly revenues being earned in Q4 2023 and Q1 2024, = Still not enough to pay the overheads and working capital needs, or Palumbo's and JVL's salaries

· Equipment sales and commissioning revenues expected in H2 2024, = heard that before for last 4 years !

· FY 2023 unaudited revenues of c.€2.5 million, in line with Company guidance, = Revised Guidance

· Italia MDC moving toward continuous and sustained operations = Not working continuously at present, and news on operations was only forced out by the auditors.

· Financial restructuring, cost reduction and anticipated conditional strategic investment, = Restructured wealth from PIs to Palumbo's mates, cost reduction of 20% but still 27 staff not covering their wages, Anticipated failure of strategic investment.

Yes conversion into shares = More voting rights under Palumbo's control

Drawdowns decreasing, now who is the Baboon?

£500K on Feb 13

£245K on May 5

£200K on May 8

Upon the earlier of (a) the closing of the Verde Subscription (update announced on 19 April 2024) and (b) the closing of the Logik settlement, the Drawdown (inclusive of fees and coupon) will be repaid to the Refinance Investors."

So it will be the Logik Settlement, they use to repay, but surprise surprise 7M warrants at 2.35p gifted, it's just a whirlwind of cash that ends up with the Palumbo's mates left with all their cash plus millions of warrants.