Member Info for dustofnations

> Wonder if it's RNSable

AIUI, yes. The POC/LONO on the vessel itself can't begin until the bilaterals are completed. Preparatory work can continue in the meanwhile (terminal installation and commissioning of Quadrise equipment, etc).

Y-Alam, I think there's some confusion of terminology here.

Quadrise used a company called "BookBuild" (website: https://www.bookbuild.live) to do the institutional accelerated bookbuild and the subsequent retail offer.

i.e. the retail offer was run by BookBuild.live.

The retail offer (run by book build) was not the same technical mechanism as an open offer.

I hope that makes sense now.

There has never been a previous BookBuild retail offer from Quadrise.

Historically, Quadrise used open offers, which are mechanistically different and dramatically more expensive to administrate. This was a BookBuild retail offer — it achieves the same outcome at a much lower cost.

That's why some brokers were previously OK, but are now tripping over their shoe laces. They can do open offers, but not BookBuild retail offers.

I've had at the back of my mind an idea of maintaining a 'bad brokers / brokers to avoid' with the likes of HSDL/Halifax/Lloyds/iWeb, Barclays, etc, so that new investors can be warned about which brokers to avoid if they wish to have access to the full range of services — plus, to help existing QED investors moving to another broker ensure they do not accidentally move to another inadequate one.

Thoughts?

@testpack3, Quadrise have nothing to do with Emmerson. We are selling a fuel technology platform, not undertaking mining or other resource extraction/competition. Please don't drag us into it.

Respectfully, rule #1 of business is not to talk smack about your customers in public, even if they are frustrating you. Nothing for us to gain from it 🙏.

Some of these products_could be competition for blend-on-board, but are they able to make use of "difficult but cheap" residual biofuels like crude sugars, glycerine, crude pyrolysis oils, TPO, SVO, HTL, ..., all mixed together?

Sometimes it's a case of selecting the platform with the capabilities you want, and what the economics are after considering all factors and availability of feedstocks.

Having some competition and validating the emulsion fuel space isn't a bad thing, IMO.

Yeah, it's a more akin to a parastatal in some ways. Technically, it's a publicly floated company, but is majority state owned (94%) to such an extent that I'm sure it is not operated entirely like a standard PLC.

That said, it does have a reputation of being one of the best run businesses in the country (of course, all of these things are relative, and I'm not in Morocco to say anything definitively).

Yes and no. We also have to try to see it from their perspective. The Moroccan client's business is more profitable than ever due to increased demand for their products, and so their focus will always be on ensuring business continuity over testing/adopting our products.

Annoying for us, but understandable if you take that into account.

It's also a huge organisation that is majority state-owned, no individual is going to take excess risk for us, because there won't be much of a reward for it. That's not to say it won't happen; far from it. But, it's not going to be "up and at 'em" where MSAR is critical path.

If you've ever worked with some of these types of companies, they're also not always run in a way that is as

regimented and 'planned in advance' as a Western company.

If and when we've made the beachhead and become part of the infrastructure it should be a different story.

I still really like the project for its simplicity and good fit, but just mentally prepare yourselves for scheduling frustration. This is where our agent needs to keep putting in in the hard work.

And we can all be glad the bookbuild and retail offer were closed out before this tariff war nonsense kicked off, as it has given markets the jitters.

That's the dream, CFP: to become a critical enabling technology. It doesn't require us to be plastered on billboards or known to end consumers, but instead highly targeted marketing towards businesses that benefit from MSAR/bioMSAR/MSAR Zero.

Philosophically, MSAR aims to be the shovel in the gold rush. i.e. become an indispensable element of the end-user's business strategy (boring but essential).

To be fair, the Lafayette Energy Corp website explicitly mentions Quadrise technology. Scroll down to "Multiple Offtake Opportunities".

It hasn't been updated in a while, but you get the gist that the raw bitumen will be sold to local roads departments for use as asphalt binder, and then the higher value opportunities are unlocked by Quadrise MSAR technology (both marine and industrial).

Interestingly, their IPO prospectus doesn't mention MSAR (yet).

Interactive Investor have handed over my shares finally, as well.

Very glad it is all over and done with. Fundraising is always stress and drama.

Quadrise, put your shoulder to the wheel, please 🙏.

Https://www.investormeetcompany.com/meetings/retail-offer -> click "Q&A" tab

@Y-Alam, for your own sanity, I recommend the application of the filter. As much as anything, so that you can see other people's messages!

Excessive amounts of Red Bull and pizza can make certain forumites post nigh-on ceaselessly.

Have a good weekend, and let us hope to see more positive newsflow the next few weeks and months.

If my memory serves correctly, he put very large amounts of money in at the start of Quadrise at SPs that are drastically higher than today. So probably is a long way from breakeven.

That said, I agree with the comments from other holders here that can perhaps be paraphrased as "don't crap on your own doorstep", and "don't cut your nose off to spite your face".

It's been a long and painful road for many ULTHs, so I get the frustration, especially if your average is still way up there because you committed your capital early on to keep the company afloat. So, I thank and respect them for keeping us going during the hard times.

But I think the pathway ahead is better than it's been for a very long time, so I am definitely cautiously optimistic and pleased.

Storm in a teacup.

Have a good weekend, all!

Probs best not to make any assumptions like that

As much as I agree it will be transformational... For the sakes of transparency, VSA Capital were joint brokers on this fundraising, so they aren't exactly impartial!

Get better soon McDoog!

The current recommendations/reports are from our own house broker (Shore Capital), so probably not worth paying much attention to over what you already know from your own research.

The fundraising went well, so I hope you can focus on getting well 🙏.

I wonder if those 3p trades were pre-arranged by brokers at an agreed price with their counterparty? The shares from the II and HNW accelerated bookbuild were admitted at 0800 this morning.