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In July 2022 the shareprice was .8p (pre con) 1 week prior to a .5p placing Palumbo &co were singing from the rooftops in a webinar about the Italian MDC all going to plan and should be up and running by November 2022.
My they even bought some shares in that placing as a gesture of their confidence which worked a treat as bait hook .
18 months later the Italian MDC is allegedly just about to be up and running continuously in a few weeks time .
Palumbo and co have since July 2022 thrashed the shareprice by 97% with their monthly burnrate of £400k to keep the lights on .
What is disappointing about today's more honest approached RNS is they are still determined at rolling in the dirt with Verde and yer more dilution.
That's pretty pathetic then Simms45 if logik are getting £15m while eqt only get £2m or half what they put in , any wonder they've burnt £50m of shareholders money with investment strategies like that.
Think we're all in agreement they need to ditch Verde and the further dilution and shareprice destruction that Palumbo has managed so far.
previous dreadful ceo ian pe**** got sacked by altair and the chairman here when they manoeuvred palumbo in 5 years ago
palumbos record after 5 years as ceo is 1 project maybe up and running whether profitable who knows.
palumbo today has thrashed the shareprice 85% lower than ian price yet hes still here at the helm mismanageing like he does.
lucky dave's still here given all those better job offers that keep flooding in for him eh!
Has too be an all time low for this POS which shows what talent the BOD are.
"Most of the strategic investors have been venture capital providers, who have done exactly what was expected. A loan to the conpany via shares where the warrants are their interest. The alternative would have been a buyout or collapse. Then you'd really have had something to complain about"
Hows about having a prudent responsible BOD that put some contingency funds aside out of the £50m they had via diluting the shareholders?
Be no need for their venture capitalists loanshark buddies then.
The last £5m -£10m raised down at these bombed out levels that Palumbo has crashed it too has destroyed at least 95% of any shareholders stake .
Mustn't grumble @TRYTRY Lucky Being down around 95% in this POS as you say it could be much worse EH!
It's the porkies all the way down from Palumbo and co keeping the mugs on the hook while smirking lining his pockets .
Testpack3
Sorry you had and are still suffering from the consequences of Covid.
Glad you came through Covid and are still here today only just , heres wishing you all the best off health going forwards .
lost my mum to covid and brother was within a whisker also.
Good luck testpack3
Nollo welcome to LSE and the eqt chat as a 1st time poster today.
As a 1st time poster unfortunately your wrong on me owning shares in this POS and having a share portfolio.
Being a newby there s a filter button available if you dont like the facts.
Another fantastic week for Palumbo and the rest off his BOD nodding donkey buddies pocketing €6k each still despite destroying over £50m of shareholders funds entrusted to him via constant dilution and loans.
Shareholders have nobody to blame but themselves for swallowing up the revenue forecasts , deadlines repeatedly missed, pipelines 200 teasers pumped out , MOUs, LOI, colabarations name dropping, dodgy partnership dealings all designed to to hook mug punters to fund the lifestyle of Palumbo and co.
Yes Palumbo is totally responsible for having driven EQT into and through the mill if only he had been less gung ho with shareholders funds we,d be much better off today.
You,d miss those days when Andii would remind us all of the revenue forcasts coming down the tracks paid for by that honest chappie Palumbo from the on the mark top analysts researchers Panure Gordon and Align research .
£72,164,000 was what their expert Analysis were forecasting for 2023 which seem a tad over optimistic now it seems.
Given the interims theres a fair chance they might be slightly off target by the odd £71m or £72m.
Class BOD & all for the benefit and in the best interest off the shareholders no doubt.
They increased their salarys by 100% when Palumbo/Altair took over his mismanagement here, then he was shamed into reducing it back down to still being 50% more than his initial salary for the destruction they've caused.
Palumbo has siphoned off over £1.5m here and whatever kickback he receives from Altair on top.
Yes he certainly cant afford a top up in this POS he has created.
Palumbo and Jeff have so much confidence in this POS of a company they hold the grand total of 8 days wages worth for Palumbo and 3 days wages worth for Jeff baby at the price they drove it down to at present.
You'd Wonder why they ain't buying at such bargin basement levels ?
Everytime I look in here I expect to see the delisting RNS confirming what Palumbo /Altair been striving towards since they took over from Ian Pearce 5 years ago.
Over 99% down from the highs with PI,s diluted to oblivion yet Palumbo still manages to keep this POS afloat somehow to extract further wages.
"Very highly experienced" according to the rubber stamping Nelson eyed chairman
Another week Palumbo has kept this POS afloat siphoning €6k into his and vdl bank account despite having over £50m to transform EQT into the £3m market cap monster today.
1 project sorta up and running alledgely in Italy after 5 years at the helm.
Top notch Palumbo.
Will Palumbo roll around in the sewer tomorrow with yet another class act or more postponement or hopefully termination with their latest "strategic investor" flippers to keep the wages going another while ?
Once upon a time they were touting potential buisness with Toyota now they are reduced to touting partnerships with one man band outfits who have the pending allegation issues below amongst many
1) fraud
2)negligent misrepresentation
3)breach of contract
4)third party breach of contract beneficiary
5)declaratory relief
You couldn't make it up.
Palumbo and the sh1 tas touch .
Palumbo is an intelligent bloke speaking 4 languages ,a multi millionaire even before he was parachuted in here by Altair and the subsequent £2m he siphoned of shareholders here on salary not counting the kickbacks from the nods to Altair .
Was able to wressle over £50m from mug punters on his fantasy revenue forcasts aided by panmure Gordon and Align research along with a few useful patsies like Andii and der sack.
Yesterday he never set aside any contingency funds to avoid the placing dilutions that even a slug would facilitate.
With all the alledged mistakes and deliberate destruction of the shareprice you must conclude that A Management buyout is a cert shortly.
Cant see this POS making it to an AGM without Palumbo/Altair and the rest of the cartel taking it private as planned all along.
Down 94% since last June's AGM and all the blame game on the market and legacy excuses .
Basically Criminal behaviour all sailing close too the wind and just barely legal while getting rubber stamped by the chairman and the nomads .
Yet another fantastic week for the BOD and their loanshark "strategic investors " keeping this POS afloat while with Palumbo and JVDL pocketing €6k each up from €4k when they started awarded by their ex labour MP chairman buddy.
Palumbo was pumping out from the rafters he had a Rolls Royce car in the makings and we ended up with a clapped out broken down £50m+ sh 1tty Trabant .
Twas all about Altair and the lifestyle.
Is it safe to assume Altair are on a free run here with all the nods on the placings dumps and warrants?