The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
maqsood, ignore him. He created this avatar last year when he was banned for trolling as Investor1111.
All one liners, no interest in the company, a sad individual seeking attention on a BB.
Simple question to him: How many companies on AIM does that comment apply to?.... My guess 100's. Isn't this what AIM's about?
Ramzoid, you're way off mark with that assumption. Price?...Priceless!
:0)
Anyway, my gripe was with Pricey. he could've put his money where his mouth was for 12 months! Yes, the old cliche', the escape route......'closed period'.
Anyway, they missed out. Hopefully onwards and upwards. GL.
cmin,
If my memory serves me right, the 50% salary in shares is only for limited period before they start drawing the full whack! I think one manager/director is taking ALL his fees in shares (but he may be a part timer!).
Morning MFU,
It's all in the 2nd December RNS:
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As part of the Subscription, Altair Group Investment Limited ("Altair"), has agreed to subscribe for, in aggregate, 268,000,000 Subscription Shares, representing a cash subscription of GBP335,000. On Admission, Altair will be interested in, in aggregate, 1,137,432,501 Ordinary Shares representing 28.87 per cent. of the Company's issued share capital as enlarged by the Subscription Shares and the Conversion Shares (as defined below). As announced on 28 June 2019, Altair can only convert its warrants (including those announced herein) and/or convert outstanding principal and interest under its existing debt facility with the Company, if such conversion would not trigger an obligation under Rule 9 of the Irish Takeover Rules to make a general offer for the balance of issued shares in the capital of the Company.
The net proceeds of the Subscription will be used to further the continued development of the Group's near term pipeline and for working capital purposes.
The Company also announces that it will issue, in aggregate, 80,070,440 Ordinary Shares (the "Conversion Shares") to certain strategic service providers (the "Strategic Providers") providing Engineer, Procure and Construct ("EPC"), Business Development and Advisory services to the Group, who have agreed to receive shares in lieu of cash fees. These shares will be issued at an agreed value per share of 0.25p, a premium of 100% to the Subscription Price, thereby reducing the Group's creditors by EUR232,763.
Each of the Strategic Providers has entered into an agreement with the Company whereby they have agreed not to dispose of any Conversion Shares for a period of six months following Admission.
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So, suggests Altair have no restrictions. However, other 'Strategic Providers' have a lock in for 6 months.
Hope that helps. GL.
Seeing All the hype from Price is now a distant past, and under Palumbo we are managing to keep to the timelines, I thought I'd look at what's now anticipated and assess Palumbo for achieving further targets....
Using 31st January Update rns as the basis..
- Completed c.EUR155,000 Transports Metropolitans de Barcelona. ------ Supposed to open up other opportunities.
- extension for the Billingham Energy Project MOU ----- Quotation expected to be completed within 45 days
- Hired a new business development executive in Spain ------ Let's see what he brings.
- Reached Financial Close on the 2MW North Fork Project and received a first payment of EUR880,000 - April Construction start?
-- Advanced discussions with Phoenix Biomass Energy Inc ("Phoenix") to develop and strengthen the Group's collaboration with Phoenix, both from an operational and business development perspective. Supposed to be Wilseyville next with funding already agreed?
-- North Fork Project design package for tender is nearly complete by EQTEC's engineering team and a project kick-off meeting in the USA with the EPC, Jenbacher and Phoenix has been scheduled for the week commencing 10 February 2020.
Not heard anything from that, but presume all on schedule now.
- Potential entry into the market in Greece ---- Ticked.
- Collaborations with developers in the UK and Ireland
-Collaboration with a large owner and operator of biomass energy, district heating and energy from waste
I've not mentioned small contracts and revenues received, so the steady flow of revenues = Tick.
----add yours.
GL all DYOR. NAI.
Dontgiveup, I was about to reply to your post, but I give up!
So, based on past losses you've drawn a lot of conclusions. May I suggest you look at PHE and more so, NCYT (ask Cav), then look at their recurring losses over several years. Look at their SP!!!... draw your conclusions. AIM doesn't work 1 + 1 = 2.
Streaky1,
I too am expecting a bit more concrete timetable of NF Plant construction.
In the recent Sierra News article:
https://sierranewsonline.com/15m-biomass-project-shifts-into-high-gear-in-north-fork/
Note the following:
"Project coordinator Greg Stangl, CEO of Phoenix Energy, confirmed this week his team is having meetings with “all the major vendors” in the next few weeks. “At the end of next week, I’ll be in a better position” to provide a more specific construction timetable, Stangl said Tuesday."
Greg is not too keen on making announcements, but either EQT will confirm or another update in Sierra News.
Thanks guys.
For those not familiar with the BIOMAT program and the Power Purchase Agreements (PPA's), a summary here:
https://www.prnewswire.com/news-releases/two-phoenix-energy-projects-developing-a-total-of-5mw-of-biomass-power-generation-receive-offers-for-ppas-from-pacific-gas--electric-300547866.html
Dgu123,
I haven't posted for a while, but felt compelled to make some points about your post/questions.
Firstly, please DYOR. There are some very LTH's here who'd happily respond, but it appears you are seeking simple answers. Only if investing was that simple!
I'd have thought based on some basic research (try company's website) will give enough clues that it is NOT a manufacturing business. It's an engineering, consultancy, design, commission, maintain, joint ownership type of outfit that has patented gasifier technology to generate electricity (and Biochar) from waste.
Another clue is in the tangible assets, suggests NOT manufacturing.
As for number of employees... look at the 6 monthly and annual financial reports and look at the remuneration numbers and what each director earns. Gets you close to the head count. A dozen to 15 is most peep's guestimation. I had a figure from the IR a year ago, but they were looking to recruit more engineers. Drop a line to IR or the company.
Re, Wylseville. LTH's are not surprised it doesn't mention EQT. FYI, eqt didn't get a mention in North Fork until very late last year. But Phoenix have been involved with NF for over 10 years and only just got the final go ahead. EQT getting a slice of the pie at the 11th hours is nothing short of a master stroke, seeing also we managed to utilise (otherwise dead) equipment from Newry to get a 20% stake in a REAL jv. We are also providing (and be earning from) the additional engineering support.
The 10+ years of waiting for North Fork shows the difficulties and red tape that need to be overcome. With an increased emphasis on the environment, LTH's believe we are approaching a tipping point. For example, electric cars were laughed at when Sinclair invented the C5. Now every manufacturer sees it integral to their future.
Finally, imo, the North Fork breakthrough should not be underestimated. Phoenix and EQT are committed to developing at least another 2 plants in California. Read Greg Stangl's statement at the bottom of each North Fork rns.
In case you haven't come across it yet, EQT has some major players as potential partners, e.g., Cobra, Ebioss (Akiles), Suez, Phoenix, Urbaser, to name a few.
Of course it's not all happy clappy. years of promises, potential, Mou's, slow progress as politicians talk but not walk. Some Mou's gone by the wayside, new ones making similar promises. All this time, company surviving on debt and more debt. But in the past 6 months (see rns's) REAL revenues are hitting the till.
I love the line from one of Greg Stangl's interview- paraphrased . The perspective clients want to see a plant up and running, they want to come and kick the tyres before committing. Well, North Fork is for REAL.
DYOR and GL. NAI.
apple, you've said it. But one delay after another, without any reasons being given. June was the big month for that payment. Then Oct. Over half way through this month, still not a word. At least things have progressed across the pond, even if none the three parties want to announce anything yet. GL with the Grand National! :0)
Very simplistic view IMO Stephenwolfe.
The trust lost here with the estimates, projections, potential, etc stated by Price and his predecessor will take a long time to recover. However, the North Fork deal must be lauded as a major achievement and the potential of creating additional opps in the USA can not be underestimated. It's a case of judging the players in this partnership to deliver. It's taken 6 years by Phoenix to reach this stage, another 18 months needed to build the plant and assuming everything goes to plan, another year to achieve meaningful revenues. Note also, Revenues v Profit!
Then take a look at what North Fork Community are saying:
"Biomass Plant Status: Dan Rosenberg gave the update. The total cost will be approximately $15 million. The investor will buy all of the bonds. An investment tax credit of about $5 million will benefit North Fork Community Power. PG& E will buy the power generated at a value of $0.199/Kwh. The Biomass Plant will be capable of producing a sustainable 2 megawatts of power. One of the requirements of the investor is that an engineer needs to guarantee the overall price of the entire project. Phoenix Energy, our partner, will be the operator. Construction time is estimated to be 18 months. During the first 3 years of operation we will receive no income. All income during that time frame goes to the investor. When all is said and done, CDC will have 37% of the company, as will Phoenix Energy. Presently, we own 47% of NFCP. We are currently in debt approximately $2.5 million.
In conclusion I'd say we need to see concurrent development of other projects in the USA as well as Europe, such as Billingham. The revenues and upfront payments from North Fork alone will barely cover BoD salaries, even after allowing for 40% in shares!
Company Valuation needs to be in the context of liabilities as well potential for other projects. Too early to put a value based on ONE project that's not even built yet.
IMO, DYOR.