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After 2 years of nearly there with the Italian MDC could this finally be the year it becomes operational earning a profit ?
Just how much has it cost on construction costs , teething problems and the resulting damage to the shareprice and trust to ever deliver 1 completed project .
Must be many millions in the red and still no proof of concept it works at a profit.
No institutions invested only moneymongers with their strategic forward selling scams interested.
Babar was the smart guy taking €600k in 2 years salary while getting away with just throwing a measly £5k into this POS before scarppering.
Even a slug would have the common sense to put some of the £50m shareholders invested aside into a contingency fund , but not Palumbo and Co .
One can only assume they are deliberately trashing this stock continuously for a Altair/MBO.
Hows about this for a beauty .
According to the Align forecasts notes in 2022 that were pumped and approved by eqtec no doubt estimated revenues for ;
2023 were €61,500,000, only €61,356,000 short at the interims but Eqtec always have a good second half don't they?
2024 looks good also Algin forcasts estimates growing profusely at €121,600,000 nearly but not quite double 2023 estimates .
Pucker research lads and gals.
Been another great week for Palumbo and Jeff with the placings & loan dilution malarky sorted for another year or two before the next consolidation is required .
Mind you not so again for the fleeced shareholders funding their lifestyle.
Using the interims The company's 27 employees earned a total of €5333.33 last week , thus Palumbo and Jeff contributed €205.12 each last week yet they pig out on €6k each !!! Nice.
Enjoy lads you deserve it.
The Italian MCD was getting touted in 2021 as to be completed Q1 2022 to get the punters on the hook , since then ,
£5m loan from riverfort moneylenders ,29/3/22
£3m placing .14/7/22
£2m loan from Palumbo/Altair moneylenders , 9/12,22
£3.5M placing , 21/3/23
£3m placing , 20/11/23.
£16.5m pounced off shareholders funding the lifestyles since the Italian MDC was supposed to be finished and one can only conclude deliberately destroying the shareholders" investments" by 97.5% .
Well done Palumbo/Altair payday tomorrow and jam for the mugs.
So let me get this straight ,
none of the destruction of shareholders £50m investment funds made available to management that has failed to get 1 project returning a profit yet , or the fact no contingency funds were set aside to avoid constant dilution or the constant delays was really managements fault ?
1) its legacy issues fault.
2) it's the markets fault.
3) it's high interest rates fault .
4) its remoteness of the Italian MDCs fault
5) its north forks tribal chiefs fault
6) UK,s fault
I,m sure there a few others to blame for this POS mess.
Why would they the need to pay electrician's in newly printed confetti did they not have £50m in shareholders money through umpteen dilutions during Palumbos Stewartship ?
Wheres the £50m gone ?
Cue bono .
If not suspended for insider scandals regarding Altair and the rest off the money lenders shenanigans then ,
I give them 9 months till they're out rattling the begging bowl again .
30 months till the next consolidation reboot part 2.
You do realise it was alledgely cut 40% recently after they and their buddies in the renumberation had already doubled it from €200k+ to €419k /€423k in 2020/21 ??
So they have already had 3 years at double bubble before this years forced cut shaming them lower.
There ya go and why wouldn't they be ,
"pleased to announce that all Results of Extraordinary General Meeting, Capital Reorganisation and Share Consolidation.....have duly passed."
How long till the next EGM consolidation reboot jobby ?
EQTEC plc (AIM: EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels and energy generation / THAT HASNT YET GOT 1 PROJECT UP AND RUNNING MAKING A PROFIT AFTER 4 YEARS OFF OVER PROMISING AND NEARLY THERE SPEIL.
sorted.
Today Palumbo through what can only be his/Altairs deliberately thrashing of EQT has the begging bowl out yet again despite already having £50m from shareholders to develop the business .
What other job rewards failure so well, £1m for destroying the shareprice by 99.3% in less than 3 years ?
That's some achievement Palumbo.
Were Panure Gordon not recommending this POS also ?
Who would off ever though after over 4 years of over promising fantasy forecasts missed deadlines not 1 project working delivering a profit and the beaut of them all another 8 billion pieces issued come Monday why this is on the brink .
They played a blinder gouging the mugs.
Another fantastic week keeping this sh.it show on the road for Palumbo the BOD and indeed also the employees .
Palumbo and the top gang members collecting €6000 today which is still up 50% on their original salary before their chums in the renumberation committee increased it.
Extracting 30x their earnings contributions on average for the week .
Get those printers warmed up and oiled for Monday as they,ll be busy .
Nice while it lasted Davy eh !.
The bare faced lier has looked me in the eye and said " if I do well you,ll all do well in EQTEC "
What a bu11 5hitter Palumbo turned out to be then ,
He has creamed of at least £1.5m here in salaries and what ever himself/Altair slung his way on the side which in my book is doing well.
Heaven forbid if a UK citizen went to Colombia/Costa rica/Italy running a farce of a company continuously telling porkies siphoning of millions from the locals and the circumstances that would ensue.
All legal in the UK Aim.
My my They,re even fighting like rats in a sack over in lala gram land were der sacks iron grip is diminishing.
Eqtec/POS .