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I think that you're mostly correct, the sell-off / shorting intensified on Tuesday morning which triggered Mike to open his motor mouth. I've seen it done many times before, a share price gets walked down by 20 - 30% for no reason, then hey presto an RNS suddenly appears with a placing at more or less where the price was dropped to. What a coincidence.

But the bid price was above 7p at the start of the month, so I don't think a placing can have been agreed at 3p a share, which is where the SP just bounced off. The drop has been much more severe because of Tuesday's inept RNS. Of course the question now is if the placing WAS agreed at let's say 5p a share, but we are now at ~3.4p a share, will the original offer price in the placing still be honoured, or will the broker insist on a lower price now? Did Mike shoot himself in the foot?

"Then surely the 100% rise leading up to it was as well?"

Oh yes I completely agree, but what's the point of the previous dozen positive RNSs, when you undo it all by the last howler? It's like your striker scoring a screamer from 35 yards and then decide to score an own goal 2 minutes later.

You would have thought Mike would learn from his mistakes, the "potential winding up of the company" statement in the last Open Offer didn't do much for the share price, what the hell did he think the wording in last RNS was going to do? Come to think of it, why the hell did our broker agree to the wording of it? Amateurs the lot of them.

"Not really, we've been here before, Maersk pulling out, KSA not going ahead . . ."

There's one huge difference this time though, the wound has been self-inflicted, there has been no external bad news to release which caused the drop, just Mike's incompetence. The 50% drop in the share price in the last few weeks is solely down to the management and it will have a big impact on our ability to raise more funds for the company.

I was quite relaxed about the funding issue a few weeks ago, I knew they could issue up to 50 million shares and even at a discount price of 6p, that would be enough cash for a further 12 months. What are we looking at now? 50 million new shares at 3p? There's only one man to blame for that, I hope he has something up his sleeve to get us out of this. Where are Freepoint when we need them? I thought our partner helped fledgling companies with finance.

If I get kicked between the legs one more time by this company, my balls will be the shape of pancakes. It's relentless, the torture never seems to end.

Today you will start a new job, you have a choice of two roles.

You can be the prime minister of the UK, you will have the unenviable task of trying to hold your political party together, navigate a strategy for a successful Brexit, preferably without wrecking the UK economy and unite a divided country. The future of 66 million people is in your hands. Your salary will be approximately £150,000 a year.

Or you can become Executive Chairman of an AIM-listed emulsion fuels company. You don't have to achieve anything, the company has been in existence for 13 years and still hasn't signed any commercial contracts for its product. You will have about 15 people working in your company and will be paid approximately £200,000 a year.

Difficult choice?

You gotta love AIM, money for old rope, riding the gravy train. I'm just jealous I'm not a part of it.

Any QFI shareholder still with a glass half full must be on happy drugs. Feel free to post me some.

I have a suspicion that Mike thought all those recent RNS would have had a greater impact on the share price, but they haven't. A few years ago we could easily have gone from 10p to 20p on the back of them all, but the market isn't interested any more, the share price has hardly moved an inch.

By my calculation they will have about £600k cash left by the end of June, not helped by the fact they've taken £300k to pay their back salaries. If we don't get a company-changing deal in the next 6 or 7 weeks, I wish them luck in trying to secure more funding. They might need it.

It sounds like desperation.

"We've released 7 RNS in the last few months and the share price has only gone up 10%. We're running short of money again, we've only got 4 months cash left. HELP!!"

At this rate, another 17 MOUs and I'll be back in profit. Woo-hoo!!

Just over seven months to go and

https://shipandbunker.com/news/world/279679-67-of-shippers-not-ready-for-imo2020-bloomberg

Good news for us maybe, especially on the refinery side.

https://shipandbunker.com/news/world/114003-imo2020-trafigura-sees-industry-facing-the-350-350-problem

Analysts from Shore Capital said that the implementation of a single commercial MSAR project would likely be "a transformational event" for Quadrise, with the analysts estimating that such a project could be worth between 2.8p per share and 12.0p per share depending on the project size and type.

https://beta.lse.co.uk/news/QFI/quadrise-fuels-lands-kuwaiti-partner-for-msar-development-h7fzailkq0z2llz.html

Does that mean 2.8p - 12p profit per share for the company, or a single commercial MSAR project could add 2.8p - 12p to the share price? If we finally get our first commercial contract and it only adds 2.8p to the share price, I would be rather disappointed.

and hope there aren't any stray, unlit buoys floating around in Kuwait Bay.

Big Boys??? What the hell were PEMEX, Maersk and Saudi Aramco? Minnows? Small fry? That has been the biggest failure in the company's strategy over the last 6 or 7 years, trying to get into bed with the big boys. It hasn't worked so far, has it?

noosking, "imminently" has a completely different meaning in the QFI world. Remeber what JGC's Takashi Yasuda said almost 18 months ago -

"We are pleased to have reached agreement with QFI. Access to their MSAR(R) technology will enable JGC to offer its clients a cost-effective and environmentally beneficial alternative to HFO that can be implemented rapidly. We look forward to working with QFI and building what we expect to be a significant new business stream."

We've been working with JGC for about 3 years now and I still see no sign of any "significant new business stream" which was "implemented rapidly".

YAWN. Another MOU. More jam tomorrow.

https://www.quadrisefuels.com/sites/default/files/2019-03/20190315115447491.pdf

It's been 17 months since we signed the JGC MOA, it would be fair to say that news from Japan is slightly overdue.

We've already got 4. Do we really need another one? He's well qualified though.

Their pay cuts finish at the end of the month and return to their original values, that's another £73,000 in additional costs up to the end of September, so over £300,000 in total. For a cash-strapped company which has been undertaking lots of cost-saving initiatives, they seem to have changed strategy. Strange considering the Open Offer two months ago wasn't fully subscribed, raising £650,000 less than they asked for.

I really hope they can justify this. If they've got the cheek to come back with the begging bowl to shareholders before the end of the year, they must know what the answer will be.

Tobythedog, from the Half Year Report which was released this morning, check the RNS tab above.

By my reckoning, repaying all the deferred part of their salaries will cost about £232,000. Last year's annual report showed the total deferred amount up to 30th June 2018 was £122,000, there will be another 9 months up to the end of this month to be added to that.

I hope they are confident of releasing some substantial news and progress soon, that's a month's cash burn approximately. Does that mean our cash runs out at the start of September now instead of the start of October as a result? Just over 5 months until lights out.

https://shipandbunker.com/news/world/799949-maersk-shell-in-worlds-largest-biofuel-bunker-trial

As part of the measures taken to conserve cash resources, with effect from 1 September 2017, I agreed to defer 50% of my salary and the Non-executive Directors deferred approximately 30% of their fees (reducing these temporarily to £24k per annum). The deferral was for an initial 12-month period and then extended further to 31 March 2019. Following the successful open offer, the deferred portion of my salary and the Non-executive Directors' fees will be repaid before the end of the financial year. The Directors and I have agreed that the previously announced 25% uplift portion (as compensation for this contribution to cost control) will now only apply to the period up to 31 December 2018, and will not be payable unless and until the Group is demonstrably funded to the point of commercial revenues.

So are they confident of an imminent contract and future funding which will justify this? End of the financial year is June 2019 I think and we only have enough money to last until October this year. Or do they have their snouts in the trough, making sure they get their cash before the company goes bust?

Not much else in there, more jam tomorrow and possible trials. Unfortunately we don't have that many tomorrows left.

IMO 2020 could trigger refinery closures outside U.S.

The International Maritime Organization low sulfur fuel mandates, set to take effect in 2020, will force shippers to burn low-sulfur bunker fuels in effort to curb pollution.

That will have a ripple effect on the entire refining industry, as demand for low-sulfur fuels, diesel, marine gasoil and lighter crude oil spikes. As the world moves to low-sulfur fuels, market for heavy sulfur bunker fuels is expected to dry up, with demand dropping to 1.8 million barrels a day from 3.5 million barrels a day now.

It is projected that the market will have a 40 percent excess supply of high-sulfur bunker fuel, said John Mayes, vice president Dallas-based consulting firm Turner Mason, speaking at AFPM's conference on Monday.

It still isn't clear where the glut in high-sulfur fuel will go. While some have speculated the power industry could eat up some of that higher sulfur fuel, that demand wouldn't be enough to absorb the excess supply. Utilities in the U.S. and Europe can't burn the heavier bunker fuels because of environmental restrictions.

https://www.chron.com/business/energy/article/IMO-2020-could-spark-some-refinery-closures-13702679.php