Member Info for Computer909

Let us hope it isn't Amati V2..

Looking back now they look to have made the right call at the time they decided to offload.

If we have another big seller and we drop much more, it has to be all over for DP.

Failure and delay hidden by rhetoric and bulls**t is the DP mantra unfortunately, I'm pretty sure he hasn't cut back on the Christmas celebrations this year though, even if EQT is a shadow of its former price.

‘Work at the Plant has proceeded in a timely way, but due to supply chain delays and the late arrival of critical components, the inavailability of suppliers to support testing of ancillary equipment and recent weeks of severe weather at the site, final performance testing and COD will be completed early in the new year. ‘

It’s a good job DP doesn’t work for Santa, otherwise we would all be opening our presents whilst sat on the beech on our summer holiday!, but it’s always someone else’s fault!

This delay is as expected based on what the said in the last interview, not sure why they felt it necessary to release this RNS as it basically contains no new information.

Beginning to look a lot like Easter!

In the last 24 months DP has...
i) Borrowed £1.25M to repay Riverport
ii) Placed £16M
iii)Borrowed at least £5M from Riverport (Could be £10M)
iv) Placed £3.75M
v) Borrowed £2.0M from Altair

And as far as the project folder is concerned, in Jan 2021 we had Billingham, Deeside, Southport and NorthFork all expected to deliver on time and an asset list of £40M+, what do we have now, the biggest news is the coming online of a 1MWe site, a site partnered with MetalNRG who we basically had to bail out two months ago by letting shares that cost us £500K go for £100K, a site which was a recommissioning project to boot, and the asset list is basically a packet of crisp and a can of coke !

Looking forward to at least some good news in the new year, if DP can lower himself to update the market with news of an operational MDC.

3rd January will see the 24 month anniversary of EQT share price being 2.76p, at the current trajectory we will sit at a massive 90% down from that level.

But if you listen to the idiot CEO the company is worth "multiples" of what it was !

From an MCAP of £250M+ to less than £25M in 24 months, and some on here still think he's doing a good job.

Yes the market has been extremely poor, but that is matched by DP's performance unfortunately.

“Never anything positive to add to this board”

Perhaps that’s because we never get anything positive from the BoD. It’s always bad news wrapped up as progress towards DP’s “strategy”

“This option enables us to turn our attention back to funding and detailed design of the project”

So exactly what has their attention been on for the last three and a half years? DP is the ultimate bull**** artist who couldn’t deliver a newspaper on time!

Well done ? , Really ?

All they have done is agree with Scott Bros to further delay the project by another year, this is deja Vu, every December DP rolls out the latest series of delays and tries to make out we should be massively pleased with his accomplishments?

Yes, side stepped another payment from the LPA but other than that this is not good news, that they are unable to make any progress whatsoever on their biggest project.

We will be in exactly the same position next December and the next with DP and the gang trying to convince us that a punch in the face is better than a kick in the nuts, and we should be happy with it!

Jangada, Rab Capital and JUB Capital have all invested at this level (and above), it's difficult holding when we saw the SP rise over the last month and now drop back down to its previous support level but this has always been a long hold into 2023 and beyond.

We basically know the journey this is now on, if we can secure the strategic partner funding to get the DFS complete and bulk sample testing complete this should hopefully take off as we are all hoping.

The risk has always been a take over from the chinese at these highly depressed levels, but the amount of shares now in "safe" hands hopefully means that this won't happen and if it does it will be at multiples of the current SP, remember all three of those investors have warrants at 8p.

‘that making it personal against the Directors simply clouds the issue‘

Not sure who else told us a year ago that NF, Deeside,Southport and Billingham would progress in 2022 and none have made any significant progress. Not sure who else told us that revenue in 2022 would be circa £30M now it’s around £6M

Not sue who else told us the Riverport loan and discounted placing were to “maintain momentum” and now we have to sell another chunk of cheap flesh to Altair to keep the lights on

Not sure who else signed off accounts that stated EQT assets amounted to £40M+ and now those same assets have questionable value.

Not sure who else to blame if not the Directors who draw large salaries every month and don’t seem to be able to deliver a newspaper!

It is personal when they mislead investors either intentionally or due to incompetence.

“Looking forward to another project commissioned in 2023”

How does he have the nerve to say “another” when we are yet to see anything at all commissioned and working?

'so investors today are getting in at 50% discount to what the board must have thought was a very favourable entry'

And investors who backed DP and co in that placing at .5p are wondering if we will see a return anytime soon, let alone previous placings at a higher price, or whether the CEOs inflated salary will continue to drain the coffers whilst delivering absolutely jack!

‘It’s beginning to look a lot like Christmas‘

I’m sure we will hear from the grinch, AKA David Palumbo soon1

Why is EQT struggling for finance when other companies in the same space are attracting massive government grants and backing?

DP seems to talk the talk but is unable to walk the walk?

Looks like we could test the 24month low next week,

DP’s and the other charlatans stewardship looks to now be nothing short of a disaster.

Now clear that previous highs have been despite the management rather than because of them

They really need a kick up the **** that would come with one of them getting their P45!

‘£2m unsecured loan at 8% is a great deal”

It’s laughable that they can get away with calling it unsecured when there is an equity payment option, it’s basically secured by the shareholders/market,

Perhaps rather than a “financial expert” that only seems to be able to secure his own position, perhaps EQT needs a CEO than can actually deliver for the benefit of the company and all its shareholders not just Altair.

Ever wondered why Altair always seem to get a great deal from EQT.

Altair Group investment
https://find-and-update.company-information.service.gov.uk/officers/R21RtZFedBdIt6L7zKTTtvrGsrc/appointments

Origen Capital LLP
https://find-and-update.company-information.service.gov.uk/company/OC399068/officers

David Laurance Palumbo
https://find-and-update.company-information.service.gov.uk/officers/XJE1Dv8R-OSVEUHz0doRsghK2ig/appointments

FFS…

When we have to take a loan for general working capital (for DP and gangs overinflated salaries), that isn’t good news at all

No one believes the bull**** around driving MDC and other projects to close, its the same crap they rollout every time the get the begging bowl out,

What an absolute **** show Palumbo has created, 666M warrants FFS, which basically means we could be pinned at or around that level for ages if Altair decide to churn that amount of shares!

EQT the company that never stops giving, or should I say DP the absolute **** that never stops taking!

This is basically another ****ty CLN to replace the Riverport loan because Riverport clearly have blocked payment with shares for their loan repayment.

DP the great financing expert, an absolute charlatan with zero respect for any shareholder apart from Altair.

https://www.gov.uk/government/news/uk-and-us-announce-new-energy-partnership

‘We will also continue our close collaboration on Carbon Capture Usage and Storage, and progress the Clean Hydrogen Mission. The UK and US are already co-leads of the Hydrogen Breakthrough Agenda, a flagship initiative to push forward clean hydrogen internationally.”

As long as the company is on the VIP list and giving 50% of its profit to a Tory peer!

If there are indeed all these programmes and “missions” associated with renewables and hydrogen, why is DP struggling to secure funding for anything?

‘It isn't surprising that some PIs are disappointed with some of the decisions taken by the BoD as mistakes have been made.”

DP and the gang have over promised and under delivered for the last 24 month, it is therefore unsurprising that the shareholders are frustrated and losing confidence in anything the idiot says.

At present EQT has gone from a green energy company on the cusp of exponential growth and years ahead of the competition to a university science project that can’t secure any interest to commercialise the technology.

DP and the gang over extended the company, failed to deliver, spent shareholders investment for very little if any return, and still have the audacity to spout on about multiple projects in Ireland and the USA on the horizon.

Lets get the first MDC up and running, and see if this does indeed transform the investment landscape as DP has said, or whether that was just more bull for a struggling CEO trying to justify his existence.

Come on David, Tic Toc

‘C909. So what are you going to do?‘

Well that is the million dollar question isn’t it, a year ago when the three amigos gave the similar kind of update we were sat at 1.2p, since then we have lost 75% of the shareprice, when we were led to believe 2022 would be transformational, but we seem to have achieved very little progress indeed, even with the cash injection from loans and support from the shareholders in the placing, those of us that supported the placing are now 40% down on that support.

Billingham doesn’t look to be moving forward anytime soon, it’s inevitable the LPA won’t go through and will be replaced with a lease agreement, and that is just a sticky plaster to paper over the fact that again DP and crew have failed to convince investors it’s a good opportunity, even though we are led to believe several tier1 investors are interested.

From the interview I got the impression we won’t see much in 2023, which underpins DP’s previous comments about it being a difficult time for investors.

So the question is hold or fold?

I still have a 2.5p target for EQT but now think that won’t be the end of 2023 but more likely 2024, the big question is are we at the bottom or do we have a way to go before the bounce?

The big issue for me is now whether the three amigos carry any credibility in their forecast for progress?

Recent moves to derisk the financials of projects i welcomed, but that in turn comes with setbacks in timescales and likely return.

The big risk in early 2023 for me now is without ant Deeside or Billingham progress, without North Fork going operational in August as hoped, without the French site (which we were led to believe was shovel ready) making progress in 2023, is where do they secure more funding from? We have more blarney regarding Ireland and recent interest for the US for tens of plants whilst they cant progress a single project in either region.

Any placing at these levels would be catastrophic for investors, but DP has shown contempt for his shareholders in recent years so that won’t stop him i fear, realistically with the Altair holding he is untouchable with regards his position so has little fear of a shareholder rebellion. Do they use the rest of the loan or do they have enough cash to make progress without further dilution?

Hold or fold, is the question, I think I will see what the effect of an online MDC has and go from there, I am hoping we are at or around bottom and should make progress despite the three amigos incompetence, we will see!