Member Info for Computer909

Only one person to blame for the situation EQT are in.

Technology works, Plants coming online but still the market has no confidence the financials add up.

The idiot CFO has put us in a situation where no one is thinking of anything other than where the money is coming from for the next bills to be paid and whether he will expect shareholders to stump up once more and at what price ?

1M shares he has committed to from his own cash, the guy should be ashamed.

When you kick your shareholders so many times over and over again, it's no wonder that they are starting to throw in the towel.

This isn't a macro event, this is purely driven by the management decisions taken over the last 24 months.

If the idiot CFO thinks he can get more cash working elsewhere, i for one say good luck and good riddance !

0.15 on the bid, what an absolute sh itshow, The Italy MDC being late to commissioning and handover completion has turned it into a damp squib, nothing will restore market confidence in EQT until they show some maturity in the finances. The idiot CFO has not got a clue.

What is the current cash run off rate?

What is the situation with the Riverport loan repayments.

How much more cash are we giving Altair on a monthly basis

How much more confetti are you looking to issue at theses levels?

Why the Italy refinance was delayed from March to “the summer”

How can you hold your heads aloft when the shareprice is at these levels,

11.5B shares issued and 1.2B low cost warrants outstanding, shambolic.

96% drop in shareprice in less than 36months, but still some bang the BOD doing a fine job drum!

None of there important questions were answered at the AGM, because the idiot CFO clearly doesn’t have a clue.

‘the cfo will deliver on the positive message outlined in the agm. ‘

the idiot cfo squirmed in his chair when asked about revenue targets at the agm, all while knowing that within 24 hours they would issue news of the ltip giving away approx 6% of the company with a reference price less that that of the day before the last altair favouring placing, a little over three months ago, clearly demonstrating their mentality and loyalties!

we need to get behind the bod, very true, so they can be given a swift kick in the ****!

I see "JV Lier" now starting to post a few updates on LinkedIn which is a good thing, congratulations JVL does your performance metric for the LTIP include social media criteria? lets see how long the new you lasts! however I'm sure most people now understand that the technology works, The share price isn't reflecting any positive sentiment, and that is surely because of the uncertainty around financing. Can they afford the bills, will they need to borrow or even worse issue more equity. There is only one thing that will steady this share price and that is some clarity on the financing and their plans for the next year, unfortunately the idiot CFO doesn't seem to know one end of a calculator from the other, so do they have any financial planning in place to see us through the next 12 months?

Some will say growth companies (that is a bit of a laugh at present) need to raise cash, but every thing EQT have done financially seems to be with scant disregard for the long term investors. Continually depressing the shareprice is not good when the main source of funding is equity sales, It was clear from the take up of the open offer than most shareholders are now sitting on their hands and aren't willing to risk more cash.

Lets see an update from the idiot CFO, that is accurate and realistic, that is the only thing that will steady this ship at the moment.

Without that we risk falling below the 36month low which we are frighteningly close to at present.

Average down some will say but with the russian roulette that is EQT finances what is the bottom? Will they shoot us in the head just to keep themselves in pay or their mates at Altair smiling ?

China has introduced export restrictions on “strategic metals” Gallium and Germanium, meaning exports from China into the US and EU will now be restricted and require special export licences.

This is an indication that China is starting to turn the screw on the foreign economies, and should hopefully mean we get a response from the EU/US as they rush to secure non-Chinese sources for important raw materials, including graphite.

This could be perfect timing for BRES with Orom-cross output becoming very attractive to EU/US customers.

someone is offloading in large chunks, last time we saw that consistently over a number of weeks dp had given his mates at altair the inside track of the upcoming placing.

or it could be the idiot cfo forward selling his ltip shares just before his incompetence tanks the shareprice further.

or it could just be someone who has had enough of jv liers bull**** and thrown in the towel.

We have now hit the Swazers chart predicted .16p, there doesn’t seem to be any movement towards the Panmure price prediction, but where is the bottom is the question, the market clearly sees the incompetent self interest activities of the BoD as unattractive.

What exactly has the master financier DP brought to the company since he arrived?, a lesson in how to extract cash for yourself and your mates, and how to p iss away £50M with nothing to show for it, we had Brewster millions, now we have Palumbo’s millions!

And as for the idiot CFO, blimey performance related bonus, he should be giving us money to turn up!

I still haven’t heard a word from the company on any of my queries, there is no investor relations what so ever in this company, the contempt for the shareholders is clear, we are simply an annoyance to them.

‘panmure's price target for may 2024 is 1.3p‘

and what do they see driving that rise, the commissioning and handover of the first mdc hasn’t budged the shareprice whatsoever, refinancing is now delayed upto 6 months beyond their original timeframe, they have failed to deliver a single project on time or on budget.

there are major issues holding back eqt, and they are all related to financial status and basically a lack of cash to operate. if you combine dp’s shenanigans with altair, and the idiot cfo printing shares like confetti, exactly where does the market gain confidence that they wont be shafted again just so the bod can continue to take their salaries and massive share incentives.

until the spectre of further cash raises and holding dilutions are taken off the table by them actually earring more than they spend we unfortunately have a struggle in this market to convince investors this is a safe haven for their cash. unless the balance sheet starts to look better there is no way we are going to reach the panmure target, perhaps stopping spending cash on broker notes would be a start, as no one gives them any credibility anyway.

laughably dp’s snake oil salesman technique of showing toe more projects in france on the agm slide is basically a rerun of jv lier’s 20 or so plants in the usa, the market just see that for what it is, bull**** they cant be held to.

"A key marker now is how quickly Italy MDC is refinanced"

We have already gone from 'by end of march' to 'during the summer'

i'm surprised 'JV Lier' didn't say it was 'imminent'

it's laughable (not in a good way!) how poor EQT planning and reporting is!

The DP mantra "Defer, Delay, Don't take responsibility" !

‘sounds like its mis-management on the part of the investor and nothing to do with the BoD's. ‘

As I mentioned before, not even the most savvy investor can cater for the biggest investor getting beforehand warning of a highly discounted placing allowing them too offload millions of shares ahead of time, and the issuance of so many new shares that the bucket shops have driven the shareprice through the floor where it will struggle to recover from without an extreme turnaround in the financials.

That is clearly down to the BoD.

Personally I now think the BoD may give the shareprice a modicum of attention, as the LTIP is giving them millions.

It is a disgrace that the idiot CFO who has been with the company just two years and overseen a financial shambles that has tanked the shareprice by over 90% will now be gifted up 105M shares, when he clearly wasn’t willing to risk his own cash previously because he knew the effect his actions would have on the shareprice.

That is clearly down to the BoD

An anyone who tries to justify their salary by saying they could easily get more elsewhere they are either lying or deluded!

If you blow £50M in 30 months and have more debt and less assists to show for it, perhaps they should be working elsewhere, probably behind the counter at McDonalds

Share price seems to be struggling why?

Because the company is run by a bunch of incompetents that have actively taken steps to depress the shareprice, via discounted placing after tipping of their mates in Altair to offload ahead of time. It now also appears that a depressed shareprice has come at the ideal time for the LTIP dish out, so basically the BoD pick up multiple numbers of shares than they have done in previous years, all at the cost to existing shareholders, and all based an performance that is laughable on any scale.

Basically the idiot CFO could end up with 105M shares for just turning up for 2 years, spending millions of shareholders cash and taking us into financial ruin.

On any scale performance of this kind taken from the latest results

· Revenue and other operating income: €8.0 million (2021: €9.2 million)

· EBITDA loss before significant and non-recurring items: €4.9 million (2021: €3.8 million)

· Net assets: €37.1 million (31 December 2021: €43.4 million)

· Capital raise of £3.7 million (€4.2 million) through the placing of new shares

· Two loan facilities secured: one for up to £10 million (€11.3 million) and the other for £2 million (€2.3 million)

-The net loss including significant and non-recurring items was €10.5 million (2021: €4.7 million), which included an investment impairment of €4.7 million in relation to the North Fork project in California.

Should warrant them getting a pay cut not a bonus that equates to 6% the worth of the company!

‘advised to look at the FTSE100...DYOR...”

Most FTSE100 companies have recovered a large percentage of the hit they took during the pandemic, i noted DP didn’t have the front to compare EQT shareprice action to google and Amazon this year!

Fast growing, just isn’t the reality is it, however much DP and JV Lier would like us to believe.

The company’s net assets have dropped in the most recent results.

The shareprice has tanked 78% in less than a year

The last placing was a 12% dilution on a 23% discount, which has since dropped by a further 10%.

And now we see the LTIP share count represent a further 6% dilution to existing shareholders

The BoD are not shy in filling their boots when the opportunity arises, JVL tries to make out they are showing confidence in the company by taking equity over salary, the reality is the company can’t afford their bloated salaries in cash and taking equity with an exercise value of 0.25p is little risk at present (we hope!), again it’s the shareholders that have to pickup their costs once again, let’s see how long the idiot CFO holds onto any shares he gets hold of, then we can talk about confidence!

‘.. pushed to a £100m plus market cap. If the likes of 909 Foxy got sucked in at those values then that's not the Co's fault”

@Dofmeister you know nothing of my average or my holding, most investors ability to measure value would be surely strained when the company seems to have developed a liking for placing at large discounts.

With any reasonable holding DCA will only make small differences if placings drive 30-50% discounts constantly.

That is the company’s fault.

‘Subject to vesting conditions of the LTIP, which include personal commitment (40%) and Company performance conditions (60%), up to one-third of the Options shall vest each year, commencing on the first anniversary of award”

So basically 40% of the allocation is given just by turning up, and the other 60% is given based on obscure targets that no one other than the people who benefit are aware of.

Exactly how do they justify any allocation under the performance criteria when they didn’t meet the original revenue guidance, missing by a massive margin (£5-7M down from £10-12M), they had to raise cash several times, and borrow even more, all on top of multiple deferred or disposed of projects, resulting in a 78% drop in the share price over the period in which performance was measured.

I have today contacted the company asking for the criteria under which the performance part of the LTIP awards are measured, but they never responded to queries so I’m not hopeful of getting any info.

No wonder the idiot CFO squirmed when questioned over his 1M holding, he knew what was coming from the LTIP, 105M options when he has only been with the company for less than two years, and ever since he joined the finances have been the biggest issue, and the shareprice has tanked.

An options price of .25p is ludicrous, this should have been at least 0.4p, don”t big up a 39% premium when you have tanked the shareprice by 80% during your stint in charge.

This just shows just how disconnected the current BoD are from most shareholders.

If the new strategy means that revenue will be streaming in via “unannounced” routes because as JVL says “it’s not in their gift” to release news, then EQT will need to determine a new way of updating the market on progress, as one or two trading updates a year won’t support the shareprice in the AIM market, irrespective of how strong the progress is, AIM just doesn’t work like that, it’s very much news driven.

For me it was clear that JVL doesn’t understand the market they are listed in, AIM is all about confidence and news feeds, Silence from and AIM listed company is always taken as a negative. Interesting that he now makes out that the Italy handover is out of their control, but previously stated that handover and refinancing would be done by March.

Not sure what DP is looking to give away with his new “strategic’ financing deals, he mentioned the IP so are they looking to offer up the Crown Jewels now they have converted the equity into worthless confetti.

As for the idiot CFO squirming when questioned about his 1M holding that was the best part of the whole meeting, clear he doesn’t want to take any more of a holding as his favourite past time has been printing confetti. They mentioned they have the option of 25% salary to equity conversion, but they never said they had activated that agreement.

Clearly there won’t be any more placings soon in the current market as it’s financial suicide and would dilute existing shareholders to oblivion., not sure even DP could get away with tipping Altair off for a second time, so they would be impacted by any further placing and that isn’t going to happen anytime soon.

More deathly silence regarding Italy MDC

‘Where’s my foot so I can shoot it !”