Member Info for Computer909

"that anyone invested or interested in investing here would normally like to read"

I would like to read an update on Deeside and how they are paying the first loan repayment, again left to the last possible minute

"flash note on the updated terms on the Deeside SPV deal"

Looks like that will need to be updated with a further delay tomorrow, oh and also a 50% drop in the share price/mcap that is stated.

https://www.catalyst-commercial.co.uk/works/august-2022-energy-market-brief/

Problem being by the time DP gets anything close to being over the line the market will have changed and we will start the whole process again on the next rainbow he wants to chase.

3.5% of the issued shares, don't normally see that sort of volume move in one trade.

"but I've managed (somehow, by accident!?) to read it,"

Open web page in google chrome
Press Ctrl-Shift-I (Developer Tools)
Click on the three vertical dots in the developer tools, select more tools and "Java Script Profiler"
Click on the three vertical dots in the "Java script profiler" (mid page), select "Network Conditions"
In the network conditions tab "User Agent" unselect the "Use browser default" tick box and change the drop down to "Googlebot"
Click refresh on the main window to remove the paywall
Translate to English as required

"Wrong market for you then."

Why @aandi, just because i don't buy fully into your "Wako" like cult hero worship of DP.

I'm still waiting to hear you change your tune on the "bridging loan" topic and how much of a stellar decision that was for us

"C909 you seem to have little confidence in EQT BoD"

Do i like the financial situation the CEO's arrogance and CFO's incompetence have put us in under the current market conditions, definitely not.

There is also a difference between having confidence and blind hero worship !

‘Going round in circles here!! ‘

That tends to happen when you keep your eyes closed !

"Finishing the projects that we don't own equity in however is more of a reputational hit than a financial hit"

Do you think DP's reputation for non delivery could get any worse after the shambles the three UK projects have turned out to be in the last 12 months.

We could "sell an equity stake in Northfork. Sell our share of one or more JV's? We have €12m in project equity right now, shares in projects we could sell off if we wanted."

Really who the hell is going to take on any stake in North Fork it's a complete sh**show, it's a charity case, and in the current market where are all these buyers for the JV's coming from, in DP's own words there are lots of investors about but they are risk averse, unlike it would seem DP, his recklessness regarding the financing is the biggest concern most have in EQT.

@aandi you really do need to tone down the drum banging, whilst we (most) remain confident (hopeful) that everything is on track we have to be mindful of the BoD actions regarding financing in the last six months.

Myles McNulty tweet, 17k followers. Expect a spike in volume

"But the near term key risk to the SP is the debt instrument."

Still the elephant in the room !

End of the month will see where we stand

"Jeff the COO doesn't have any warrants"

But he does have 8M LTIP options @0.01p of which approx 1/3 are expected to vest in 2022.

*that take the edge off any risk for them at the current SP.

@Aandi: Whilst I agree we all like to see BoD showing some confidence and putting their own cash into the company, lets not forget that both the CEO (196M) and CTO (98M) have massive amounts of warrants @0.25p that take the risk off any risk for them at the current SP.

@Aandi: Are these figures correct ?

https://www.lse.co.uk/rns/EQT/result-of-placing-subscription-primarybid-offer-mfz4js93b43fu5o.html

"On Admission, following the issue of the Subscription Shares, the interests of the Subscribing Directors and Altair in the Company's enlarged issued share capital will be as follows:"

CTO: Yoel Aleman : 185,791,970
CEO: David Palumbo : 60,809,627
COO: Jeffrey Vander Linden : 21,560,914
CFO: Nauman Babar : 1,000,000

Did you mean "CEO" and "CTO" as the "CFO" only has a holding of around £5K from what has been reported?

With the CFO taking a salary of €140K ?

@Aandi: "At Billingham they aren't ready for offtake agreements yet?", "Again check out velocys timelines,"

And that is exactly the point, We can't secure offtake agreements, we need changes to planning requests, we need the FEED to be completed, all of which are subject to change (and likely to change), and therefore we can't secure the business case and subsequent financing, remembering that DP was supposed to be the financing guru that would sort all those issues, we don't see many options in his toolkit other than the begging bowl to shareholders over and over again.

So at Billingham we failed to get the first throw of the die over the line because the economics changed over the project lifetime, so are having another go, but the timelines aren't any different so what is to say we get another two years down the line, something changes in the market and round and round we go again, all the time having desperately needed capital tied up in these projects. Not being a "Single project company" as DP likes to point out is all well and good if the projects aren't stretching your finances.

EQT technology is reportedly the answer to the global warming challenge, Global energy crisis, net zero targets,

DPs hot air has warmed the globe more than the technology has cooled it, the only zero we actually see from DP is the one in the "Projects Delivered" column on the company reports.

Are the MDCs coming online going to resolve these financing issues, due to the extremely diverse nature and size of the projects thats unlikely. Will they drive numerous other 1-2MW plants into the "pipeline" we hope so, but the MDCs are almost irrelevant when looking at the large projects currently on the books, they will demonstrate the technology in the field but realistically it's all about the commercials and at the moment that is the stumbling block, will a 1.0MW MDC convince any investor the commercials scale to 20-25MW is the question

"With Billingham your frustrations are warranted."

And what is to say that after another three years we won't be presented with the same conundrum, If all anyone sees is the "pipeline" and no "delivery" what then makes these projects attractive to investors or Owner Operators?

If the project delivery is so lengthy and they can't secure the off-take parameters based on the delivery timeframe, it is literally impossible to build a business case to attract investment, hence the situation we are in !

Meanwhile DP spouts pie in the sky figures regarding revenue and company "worth" (avoiding the prickly state of the actual share price), Loads of hot air regarding EQT not wanting to Owner/Operate these projects but realistically we are more owner/operators now than at any time in our history, problem being we aren't sized financially to cash the cheques DP's ego keeps on writing.

All these issues are clearly why the technology licensing model is the goal, but the way the management are travelling the road to get their poses the significant risk that the wheels may fall off (or we won't be able to put fuel in the tank) before we reach the destination.

"There's currently nothing of their current offering operating (movialsa is assumed to be old tech) so you could either take a chance and throw a load of cash at something which is at this stage not proven, or, since you know the company is working on 2 projects which are funded not by yourself, wait and see if they work before chucking in your £100m."

The issue with the investment into the larger projects is that it's not all about the technology it's about the delivery, whilst the MDCs coming on line may be able to remove some of the risk but the fact that we have so many projects that are stumbling at present is not a good look, no one (Apart from DP apparently) wants to get years into delivering a project then find they have to pivot the delivery to the next "hottest thing" and end up starting from scratch again as we seem to have done on the UK projects.

"Don't forget the business model includes selling the SPV early so we are not tied into the project all the way to financial close without making some early revenue back"

We don't see much evidence of this, all we see is continued financial exposure because we are tied into projects we can't close and wont cut loose., DP has no concept of spending within his means, and Bauber has no concept of the price of a pint of milk !

"Credibility comes from actions not words"

When we have a CFO that can't use a calculator and a CEO that can't say no when spending others money then the market credibility will inevitably take a hit

Not sure the MDCs being online at the end of a year will be enough news to turn around the sentiment DP's actions have created. We need a comercial project over the line, trouble is DP has a habit of starting again just when we think we may get a financial closure over the line.

For my pennies worth: I’ll take some more , but not until the state of the finances become clearer.

At present it’s DP’s megalomaniac spending that is the only concern, North Fork is a millstone around our neck for which the business case doesn’t stack up, but he has put us up to our necks in the project where it should have been cut loose, we are a business not a community Charity.

First milestone is the end of the month with a Deeside update (or non-update) and the first repayment of the Riverport loan.