Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The shareprice is down over 99% from 3 years ago when Palumbo was merrily retweeting the graph showing the rise , seems to be all coy now on retweeting recent graph movements with his orchestrated destruction .
We all know it's not Palumbos fault as he often points out it's all down to legacy and the market.
Nothing to do with the ;
Lost £50m,
18bn shares issued (pre consolidation smokescreen ),
Altair,
€144k interim revenues
£400k monthly burnrate
1 project delivered after 5 years in charge.
The 1 project finished 2 years late
Yep definitely not Palumbos fault.
Why if the Italian MDC is such a "win win" how come they did their usual 6 month placing eh!
B123@ "Is there a placing anytime soon"
Theres a placing here roughly every 6 months for £3m which correlates with their burnrate off £400k per month with costs .
Palumbo and Jeff baby bemoan the shareprice even when " goodnews issued "
Well heres a few clues Lads ,
15 years this has been masquerading as a startup technology company 5 years of those now under Palumbos/Altairs reign and still the begging bowl every 6 months diluting long term retail backers to oblivion as no decent earnings from the 27 staff.
Deadlines missed, forcasts obliterated , billions upon billions pre the consolidation smokescreen issued.
Yet they still wonder why the shareprice dosnt rise not that it bothers them every Friday at the trough.
What is" increasingly desperate and pathetic " is the constant placings dilution by Palumbo from 4.5bn to 18bn pre the consolidation smokescreen since he took over , the destruction of the shareprice, besides the smirk on his face on the pre placing pump videos and the constant nearly there bait reverberating from his mush.
At least one thing is clear with EQT , it's been another fantastic week for Palumbo and the gang again with him and Jeff baby pocketing €6k up from €4 originally.
Strangely they somehow never managed to fudge or delay their salaries.
Anyhows good week then sorta with the Italian MDC fiasco apparently running up to the banks required performance criteria at last.
Thats 1 ticked off from The Palumbo 200 Pipeline then after 5 years in charge and £50m spent.
Going all pro rata Is it safe to assume given the 5 year timescale and costs for the Italian MDC that it will take 995 years for the other 199 pipelines to be completed and another £9.95BN in placings and loans to wade through The Palumbo 200 ?
Being ever the optimist surely economies of scale and lessons learnt even by Palumbo & co should kick in to reduce those costs and timelines for shareholders ?
How can this POS ever expect to keep a sustained rise when the moneymongers Altair ,Pitcole ect dump relentlessly from the bargain basement giveaway stock Palumbo keeps lavishing on them pre the placings ?
Altair are the main guilty party here facilitating Palumbos profligacy addiction,
No credible institutions anymore to hold Altair/Palumbo relentless placing and loans caper check u,m afraid.
Palumbo has destroyed this company in the last 18 months deliberately I,m assuming as he is to intelligent for it to be just mismanagement.
Having £5 m- £10m contingency funds set aside is just good basic responsibile economics to be expected at that point from a competent CEO.
Thus the disaster that unfolded was his making having been so reckless becoming ever more desperate for funding diluting shareholders to oblivion .
Since that webinar 18months ago Palumbo has collapsed the shareprice from -95% yes 80p to 4p post consolidation price.
Unfortunately being Altairs plant palumbo is unsackable.
Scrod , I,ll be at the AGM and I,ll,be giving it plenty( likley to be escorted out by security)if this dosnt recover to at least last years AGM price which is 21p post consolidation.
Yip that's -80% after today's spike.
"There suddenly seems to be a lot of new posters here who have never shown an ounce of interest in EQT."
Arn,t they the lucky/clever clogs then.
Wish I was one off them , only another x12 bags to break even in this lifestyle racket.
Yes well done Palumbo .
After 5 years at the helm you have finally got 1 project delivered 18 months later than mentioned in your pre placing pump webinars and the website .
Since the Italian MDC delay fiasco the shareprice has been destroyed from 80p to 3.5p at today's consolidation price.
So you managed to extract £50m from punters here and turn that into today's market capital value of £6m .
Yes well done Palumbo indeed.
Hh77
Cant see EQt lasting much longer or at most by July, nobody believes or wants to buy the placing stock anymore .
The moneymongers can barely shift £4,000 per day now and they took £3m worth in the last dilution forward selling shafting and are now caught holding about over £2m worth over about 18 months worth of dumping at today's rate.
At £450k monthly burnrate another £3m needed in 6months who in their right mind is gonna be buying this POS ?
What other company would take these two charlatans into senior management with their track record and shady reputations.
As Scrosngerscat succinctly put " he wouldn't put the BOD here in charge of cleaning a toilet"
Not 1 credible institution on board now ,Mind you they have a dab hand on printing 18bn pieces of sh.it here while gouging the mug shareholders .
Been another fantastic week for Palumbo and the gang pocketing €6k each, still up 50% from their original salarys but reduced down from the €8k their 2 chums in the renumberation committee awarded them when the hype was still believed.
"The company is focused on maximising shareholder value in the near term "
That went well delivering-98% from that statement b0110x date.
So during the Italian MDC 2 years late fiasco process what have we learnt ?
1) Never trust Palumbo or the board on any completions timeframes.
2) take all forecasts with a barrel off salt .
3) A BOD video or podcast is a pre placing pump.
4) The BOD token buy usually a week prior to another placing/dilution
5) Institutions have departed letting Palumbos bucketshop forward sellers ply their game .
6) Not 1 off Palumbos 200 + pipelines baloney has come to fruition .
7) Running a plant in development/university settings 10 years does not transfer commercially .
8) The 27 staff between them earned a whopping €144k ( €204.44 each per week) H1 this year .
9) After nearly 5 years Palumbo has trashed the shareprice -75% below its alltime low this week, and -97% since the Italian MDC original completion date.
10) Palumbo is unsackable as he is Altairs plant orchestrating very successfully the destruction for an Altair/MBO.
Have I missed out any other lessons we learnt during the MDC 2 year incubation carry on ?
This POS has to bag x22 from today's alltime low today for me to break even.
More chance of Palumbo telling the truth I,m afraid.
What a POS scam you've successfully delivered for yourself and Altair Palumbo make sure you've the MBO completed by the AGM and this delisted otherwise I,ll be at the AGM rattling off which others should try and attend also.
Deceitful scam off an outfit.
RNS From 13/july/2022
In just 18 months Palumbo and his gang have trashed( sorry maximised shareholder value just like the RNS says ) from .80p the previous closing price to today's of .0023p pre consolidation fog.
That's maximising shareholder value by minus 97.5% and Palumbo and the A team are still in charge promising jam sometime.
Palumbo and the whole BOD shafted the retail investors here with the job completed for the MBO now.
The Company is focused on maximising shareholder value in the near term through greater recognition and adoption of its commercial applications by global infrastructure investors and owners operators and its accelerated execution of its licensing strategy resulting in an increased valuation by the market, measurable in the share price. To achieve this, the Company is driving an increase in the number of operational plants running EQTEC technology, after which it will also increase the variety of applications of EQTEC solutions deployed .......
What has the Italian MCD fiasco cost the company so far in delays and performance inadequacies £10m or £15m to produce a bit of electricity equivalent to a bag of coal ?? Nobody knows .
Not sure even Palumbo and Jeff baby can keep the plates spinning much longer spoofing with this POS before Altair pull the trigger for their orchestrated takeover .
Even in La La gram the attack dogs have given up defending this POS with posts cursing the BOD being no longer removed.
Truth finally sinking in there also.
The £50m comes from all the placings/dilutions, and loans there had since Palumbo took over as CEO in summer of 2019.
I tallied the total up perhaps a year ago when in the low £40m mark just simply added as the dilution/loans debacle continued .
Feel free to trawl through and tally them up yourself and correct me if you find any Desrepencies .
Have a nice weekend MJ.
I know the BOD /Altair and the rest of the moneymongers will having kept the plates spinning another week.
We do know it was supposed to be up and running by H2 2022 but like everything with EQT it's all tomorrow maybe .
On other news it's been another fantastic week for Palumbo and the BOD with another €6k deposited into their pockets after taking a 25% reduction on the 100% increase his chums in the renumberation committee awarded them 2 years earlier.
Why would Palumbo f... off sure isnt life just grand in his EQT lifestyle world ?
Everyone involved the BOD,staff, nomads lawyers,,MMs apart from the retail investors are creaming it here just like 95% off all AIM company racket.
You gotta hand it to Palumbo and Altair they have been very successful (getting £50m worth )at selling the scam to the punters, my they even had several institutions on the hook a couple of years ago before they cottoned on to Palumbos/Altairs cosy placing/dilution forward selling racket.
No Palumbo ain't going anywhere with the backing of the moneymongers his playbook exposed and reputation in tatters
Remember the most recent interims !!
Financial highlights
• Revenue and other operating income: €0.145 million (H1 2022: €2.98 million)
H2 gone now wonder did they manage to beat the pitiful €204.05 per head they achieved in H1 before expenses ?
Totally shameless.