Member Info for Computer909

what are the odds of a quickly arranged modification to the agreement?

Riverport are a bunch of vultures so are always on the lookout for a quick buck !

I think we are destined to bounce along at this level for at least the next couple of weeks

Not sure anyone is expecting anything on Deesside other than a further deferral, but key to the markets confidence in the next 6 months is how they deal with the loan repayments.

Pay with cash and the market will gain some confidence that they do have the finances under control and the recent placing was to "maintain momentum", Pay with equity and the market will assume a further mismanagement of the finances, that they really have over stretched to the point of breaking and don't have a handle on the current market conditions.

Let's hope the CFO can actually drive a calculator !

And . . .
EQTEC 1%

The question previously was whether DP was steering the ship or holding on for his life in a green tech wave, I suppose if there is another wave we will see if his crazy spending has beached the ship.

"I think we can raise 9 billion shares if we really need."

Oh good, i'm sure DP has already spent the cash !

"Do we think this is factored into cashflow predictions"

We have to hope so, We have to wait to find out, But if it isn't then no amount of "it takes a 6months to be proficient in a new job, 12 months to be good" will cover up for the CFO not being able to count.

With the £3.5m (€4.1M) placing in july there isn't much headroom (in the €4.5M shareholder approved) for the issuance of many more shares before they need to seek additional approval, as they haven't started that process and they only have 19 days left before they have to pay we can hopefully surmise they have the cash available.

"Some of those forecasts were likely made pre war." : Yes pre Falklands most likely !

"Look all around the Aim, there are companies failing all over" : I think that is the point we are seeing companies not adjust to the situation, spread themselves financially thin then struggling to recover the situation, DP's attitude to spending seems to have no bounds.

North Fork is an absolute disaster of a money pit, But we are in so deep now we have to keep committing funds $6.4M already, a possible $4.5M more for a project that will produce $4M revenue at god knows what margin, its likely to be a decade before we see any kind of return at least.

The use of North Fork as a MDC, what does that show investors? that it takes decades to commission and decades to get your return.

North Fork should have been cut loose, but DP's ego wouldn't allow it, so we have to keep paying but see little or no progress.

‘got 20+ years to wait’

The rate it’s going we may see a uk project financial close just after you retire, thats if the goals don’t move again

Save the planet !, all DP’s hot air is adding to global warming not reducing it !

@Aandi: The EQT BoD could stab you in the eye with a blunt pencil and that would still be "ok with you"

They take out an ill thought out "bridging loan" and that is ok with you, they have to raise additional cash just months after that for "unforseen payments" and that is ok with you.

When cash is short the thing to do is to tighten your spending not just simply borrowing more !

This isn't a Putin megalomania problem it's a Palumbo megalomania problem, he doesn't understand the concept of spending only what you can afford.

Not sure that ITM is a reasonable comparison, when considering financial stability.

ITM : 2022, Net cash at year-end of £364m (£176m)
EQT : No pot to p*** in

"Amati selling that destroyed the share price from around 1.1p"

Chicken and the egg which came first?

Amati offloading a sub £100M mcap company or the mcap falling below £100M ?

Lack of delivery has destroyed the mcap very little else.

There were some second hand computer keyboards thrown out of the EQT office last week, because the D E L A Y keys have been worn out !

"Working towards the goals and growing the revenue."

We wait to be impressed, the only thing that seems to be growing EQT revenue at the moment is the begging bowl !

And the only thing they seem to be gasifying at present is investors cash !

"We can’t possibly expect them to carry out the work of a well established EPC or engineering company carrying out Front End Engineering Design"

Agreed, so what exactly is the payroll currently funding ?

"ODX revenue has been stagnant at around £8m for the last 4 years. How are they comparable?"

The point wasn't regarding revenue, the point was around BoD with the constant begging bowl, and shareholder approvals

Sooner or later the BoD will find the bowl is empty, then what more CLN and death spiral financing, just because DP's ego can't assess the market and put a brake on his spending.

"It is only in the last 3 months that Tier 1 partners have been secured and confirmed."

Let's examine the "partner" statement, surely that should be "supplier" as these partnership looks to be wholly one-sided at the moment.

The only thing for example EQT have got from Wood for example over the last 18 months, are the drinks and sandwiches paid for at COP26, Black and Veach now seem to be being paid for engineering work that EQT payroll staff were supposed to be doing, (what actually are these staff doing now?), how much the B&V bill is going to be we have yet to hear !

"Lastly, share holders voted 98% in favour of allowing the BOD to raise funds through placings."

Doing anything else would have been a nail in the coffin of their investments, please don't make this sound like a massive vote of confidence in DP and his BoD.

Sooner or later the shareholders will have had enough and say no (look at ODX and the shambles that is in, because the BoD just thought the shareholders were a bottomless pit.

Sometimes @aandi you have to lay off banging the drum a little and accept that the company has not covered itself in glory over the last 12 months, Rolling out figures that are 12month / 18months old is not helpful in this market.

The company valuation is less than a quarter of what it was, have the BoD given up any of their salaries or options?

The EQT can has been kicked down the road so many times, i'm surprised it's not subject to road excise duty !

In less than 20 days we will know how they are looking to pay the first repayment of the loan,

We hope there is cash from the placing left, But not sure the CFO can use a calculator let alone a spreadsheet

"The next 3MW BMEC project is due to cost $32m or that amount of funding is being secured"

DP always keen to move onto the next project, we need to see one finished first, before he starts spreading our cash elsewhere!

"So has Northfork cost $28m to date? And eqtec own 49% for an investment of $6.5m?"

So $6.5M for 49% of a money-pit that no one knows if or when we will see a return? Is the $6.5M a good investment, how much more will need to be spent to get our money back?

Do we actually know what the delays are, how much it will cost, when it will be online.

This "community project" is becoming more like "Care in the Community" from EQT point of view.

"Not once do they mention Google or Amazon..."

https://youtu.be/9UrtOc3beA4?t=833

I suppose the question is now, how low can we go without some substantial news

The issue being is basically we have had our “Good news” for the quarter and the SP is at an all time low, if we continue to see 3-5% drop a day this will basically be worth beans

Not sure another MR sound bite session will change the sentiment , we now need some actual progress that is worth hard revenue.