Member Info for Computer909

"we could be in for a bumper next few months then performance related bonus would be deserved?"

I seem to remember that being said this time last year, and what did we get at the end of the year ?

DELAYS

Performance related bonus, you really are having a laugh @Aandi, No BoD deserves a bonus if they have to rattle the begging bowl to shareholders to pay the electric bill !

"while Rotunda, its advisors and EQTEC are actively engaged with investors for funding or acquisition of Shankley."

Well we know what "active engagement" from Rotunda has been, offloading to Kibo.

The EQT RNS and Media release just seems to be one step behind the ball !

"having now charged out the design and development fees."

And how exactly are those fees going to get paid, £2.5M from a company who's parent company only paid £600K, and via a CLN !, which basically means we won't see a penny for years until the project is commissioned which is estimated to be 2024.

So again are we looking at more "clever" accounting from EQT this year with more revenue "realised" but not accessible, it's no wonder the company's cash flow is under so much pressure, and he keeps coming to us to plug the gaps

What a web we weave !

So again the financial modelling that comes with DP's strategy becomes more and more complex at every corner.

So basically we are giving up ownership of "Phase1" the phase that has planning permission, approved grid connections and we believe a "blue chip offtake partner" in favour of "Phase2" which is still on the design board.

It was always strange that all the bluster around Phase1 from EQT when its technology wasn't actually being used in that phase, so logically it makes sense, but begs the question what the hell has been going on upto now?

"The Company has now entered into agreements for the cancellation of the SPA and to secure the outstanding £2,500,000 of development services fees in the form of a secured convertible loan note ("CLN") with Shankley. The CLN, which bears no interest, is due to be paid to the Company, following sale of or investment into Shankley by any third party."

So we also know from Kibo that it is the "third party" that has taken over 100% of Shankley for a consideration of just £600K, paid in the most convoluted method imaginable, so how are EQT recovering our investment?

Surely DP will have to front up and explain what is going on ?

DP might like to throw the "partnership" phrase around but Wood group are little more than suppliers to EQT, and will be expecting payment for their services.

I wouldn't be expecting any larger amounts to be flowing from Wood to EQT.

Rather than the bul**** "Pipeline of Pipelines", perhaps EQT would announce contracted and non-contracted tender opportunities so we can all do a comparison ?

"we would expect the cash reserves to be on a different level."

But DP still acts like "Loads of Money" with a big wad on his hip, where in reality he's maxed out the shareholder credit card

Without the £365M cash sat in the bank?

I know DP likes to spend like he is sat on the ITM pot, perhaps he needs to realised currently we don't have a "pot" to do the proverbial in !

If this is the prelude to another placing it will be catastrophic for the SP and the companies reputation amongst shareholders, what the hell are they playing at?

Most likely all a consequence of the terms of the Riverport financing, they thought they could drip feed to issue of equity to settle the payments but with the share activity where it is Riverport obviously want cash

If and it’s still an if they are forced to do anther placing this year surely it just shows they haven’t a clue around budgets and cash flow.

Again they release news which just makes investors nervous

Knowing DP and if his performance over the last 18 months is anything to go by, before we get any of the uk projects close to operational he will ‘pivot’ to the next big thing, likely to be fairy dust , rather than deliver on anything concrete.

"I expect it will be sooner aided by the current energy problems."

The non-uk projects have to be the focus now, basically the UK is broken, the GBP will be next to worthless if Truss continues to borrow at the rate she has proposed, Her backing of Shell and the other Oil/Gas producers is on the brink of criminality but i'm sure once she is ousted she will find an excellent role back at her old employer. Her delusional belief that increasing north sea production will in some way provide us with "energy security" just shows she doesn't understand the global market, and as for increased fracking !

Jacob Reece Mogg the "Bertie Wooster" of parliament becoming the energy minister when he rakes in millions from Somerset Capital who are massive in Coal,Oil and Gas doesn't look promising for the Green energy industry anytime soon.

Confirmation of financing agreements is what we need in order to push the SP forward, at the moment that is the black cloud that hangs over everything

Why also have we not heard regarding the first Riverport loan repayment, I assume then they have paid for this in cash ?

"Toyota, Total, Black and Veitch, Anaergia, Woodgroup, SEPS, Petrofac, Idex"

And how many of these have brought cash into EQT, and how many have extracted it?

DP is long on rhetoric short on delivery

This "payment in shares" just smacks of the realisation that riverport wasn't going to accept equity for their repayment (because the terms meant that equity would have been at around 1p) so that plan was scuppered so they needed to find somewhere else to save cash.

Not sure this will be the last as we still have to hear regarding first loan payment, Repaying finance with equity is much more of an accepted norm in AIM, not sure paying the electricity bill with a few shares is a good look though.

"You only take payment in shares if you think their value will not fall."

Or if you think you can offload them for the money you were owed before the price drops.

What was the actual bill, you can be sure it wasn't £100K, so what premium have we paid?

"Supplier shares? They opted for shares over cash? "

Did they opt or were they given no choice? , again no black and white information from DP, To cloud the waters just that little more

"The issue of the Supplier Shares will further align the interests of strategic advisers and service providers with those of the Company and its shareholders."

If they align to the interests of the company there will be in a tie in period, but we all know this is *******s and they will be selling as soon as they are issued to get their money, how much of a premium do the shareholders have to pay on this bill ?

Once again DP and Crew throw out bull**** like they are fertilizing a field.

What an absolute ****show....

The amount of delays on this project now warrant a full paragraph when listing out the dates,

And to top it all off they slide in another 20M+ share issues, in order to pay a bill !

"reductions in value of a company due to Brexit"

Just another justification for DP missing timelines, blowing budgets and generally bullsh-iting around non-delivery.

Brexit, Covid, Ukraine, supply chain constraints, Alien invasion, he can blame them all but still fails to deliver much if anything in the way of getting any of the projects over the line.

When the delivery doesn't match the rhetoric is what frustrates investors,

Lets see what excuse he uses today

Another 5% a day spiral whilst DP makes us wait for an update on his latest failings, or more likely whilst Baber takes his shoes off in order to calculate the interest on his toes.

I think the frustrating thing about @Aandi constant upbeat posts is that DP and the band are currently struggling to dance to the beat.