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Basically the only financial institutions that touch EQTEC with a barge pole are all on the make and in cohoots with Palumbo providing the loans enabling him to destroy the share price with his profligacy addiction of shareholders money.
I will be voting against the capital reorganisation/destruction along with everything else they recommend in the shareholders best interests (They are having a f...k..g giraffe )
Altair Group Investment Limited (17.94%)
Pitcole Limited (6.60%)
YA II PN Ltd (5.69%)
Riverfort Global Opportunities PCC Limited (4.85%)
This page was last updated on the 19th November 2023.
On reflection Palumbo/Altair and the BOD have to be deliberately thrashing the company and shareprice they couldn't be that incompetent given ;
They know to keep spending other people's money risking very little of their own money bar a few token buys a few weeks out from the next placing/refinancing.
They know to keep gouging the shareholders for the benifit of themselves and Altair repeatedly.
They know how to print billions upon billions of fresh shares keeping all the above spinning .
The BOD and ex BOD have extracted roughly £7m in wages since Palumbo took over the reins.
They know not to eat themselves .
Definitely a MBO stitch up coming.
NoOneknows , come on now that's a bit harsh with your " produced absolutely no income " hissy.
Dont you know the 27 employees produced a grand total of €144k income from January to June 2023 a whopping €206.53 per week each ??????
When you consider the £50m squandered , continually missing deadlines , confetti issuing, € 145k for 6 months total income from the 27 staff , its obvious Palumbo the" experienced financial expert "must be deliberately trashing this company for a management buyout with all the BOD,s consent ?
Even if we accept Palumbo is totally incompetent ( apart from when it comes to his and Altairs gouging the shareholders) surely the other members of the BOD would off stepped in to prevent the damage Palumbo has caused?
Has to be a MBO by The smirking Palumbo and Altair surley?
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, is pleased to announce a proposed financial restructuring,
Why would Palumbo and co be pleased to announce another 3 or 4 billion lumps of newly issued confetti to add to the 11.5 billion ?
Cue bono ??????
Let me guess keeping the plates spinning for BOD/Altair .
There'll be a mass exodus unless the Italian MDC issues are sorted and profitable by the EGM confetti vote.
EQTEC plc (AIM: EQT),
If only it was a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation.
Translation
EQTEC a company that's transformed £50m of shareholders money in the last 4.5 years into a company worth £5M today with no projects finished and delivering a profit , but has delivered Palumbo the financial expert and his BOD team approximately £7m in wages to come to today's it's not our fault death notice.
What a Pathetic sham this has been unless your part of Altair or the BOD.
I,ve now wrote my losevestment here off completely.
I,ll be voting against everything in the EGM to fund their lifestyles for another few months , if that means turning the lights off so be it.
AIM is a cesspit for BOD conmen to fleece the vunerable.
Blessed to have Palumbo steering the ship here as he could earn "much more elsewhere"for his fantastic management skills when giving it large at the AGM.
At the AGM he defended EQT being down 80% over the previous 12 months with comparisons with other companies to justify his failings.
Since June AGM the EQT shareprice has crashed another 80% as a result of the pathetic €144k earnings from all 27 employees on the previous 6 months , knowing the mess unfolding any wonder Palumbo and the team waited till recently to buy the equivalent of a few weeks wages in the stock they were hammering .
Expecting Palumbo to turn this around after the damage he caused is delusional.
Palumbo needs replacing for EQT to have a chance of to survive.
Good post Scrodingerscat
As pointed out and I will continue to point out Palumbo and JVDL earned more in the 6 months to June each than the total income earnings from all 27 employees during those 6 months after over 4 years at the helm , even after deducting the 1 or 2 weeks wages ( throwing the dog a bone) they bought shares with at the bombed out prices they facilitated due to their poor mismanagement.
We've all Been led up the garden path here bigtime .
It would be in Palumbos interest if going for the "better paid job elsewhere "that he distances himself from his disastrous spell at EQT or being on the BOD of Pires.
Slim chance hopeing the same BOD team that pivoted nearly £50m from shareholders down the swanny with not 1 project up running at a profit here have the nouse to actually turn this mess around for their shafted lifestyle sponsors.
Happy to eat humble pie though .
Just for you tryagain
I am now complaining that none off Andii,s pipelines ever materialised.
Just a wee reminder whilst Andii,s temporarily gone missing
Sept 2020 (oportunity) pipeline = 41 worth €341m
Feb 2021 pipeline = 75 worth €657m
July 2022 pipeline = 200+ potentially worth €1.75billion
Aug 2023 pipeline = 300+ maybe? worth €2.625billion?Just a wee reminder whilst Andii,s temporarily gone missing
Sept 2020 (oportunity) pipeline = 41 worth €341m
Feb 2021 pipeline = 75 worth €657m
July 2022 pipeline = 200+ potentially worth €1.75billion
Aug 2023 pipeline = 300+ maybe? worth €2.625billion?
Palumbo must be pinching himself as another fantastic month passes despite the €8,000 reduction in salary with €24,000 just landing into JVDL and his bank account yesterday.
With Palumbo 4 and a half years in situ he has delivered ( Babar,s favourite word there ) 27 staff on the books earning a whopping €895.06 each per month and not 1 project up and running delivering a profit.
Pathetic.
Fill yer boots up Palumbo while it lasts !
To think in Palumbos deluded mind at the AGM he mention he could get a better paid job elsewhere despite the fact having the talent to squander £50m of shareholders money with no contingency funds set aside and magnificently guiding EQT into a company with a market capitalisation of a measly £6m today.
Take a bow Palumbo and collect your €6k tomorrow shamed down from €8k last month.
Well another fantastic week for the BOD and Altair yet again.
How long can they keep the plates spinning?
€6k pivoting into Palumbo and Jvdl bank accounts today via the shareholders and €4.5k pivoting into Babar,s account via the shareholders.
Happy days all round. (apart from those not on the board or Altair )
Have a look at the interims RNS
Under financial highlights
Revenue and other operarating income for the 6 months was €0.145m yes €145k I kid you not.
So after 4 years of Palumbo and £50m of shareholders money to manage he has delivered the equivalent income of an evening standard hawker at a tube station .
The boys dont hold back on artistic licence , if only the market believed them.
About EQTEC plc
As one of the world's most experienced gasification technology and engineering companies, with a growing track record of delivering operational and commercial success for transforming waste-to-energy through best-in-class technology innovation, engineering and project development, EQTEC brings together design innovation, project delivery discipline and solid commercial experience to add momentum to the global energy transition
Another fantastic week for Palumbo and the team .
€6k each for Palumbo and jvdl this week and €4.5k for Mr £5k invested .
After doubling his salary from approx €200k to €415k during the good times he announced a 24% payout with the horrendous interims recently.
Still up 50% in salary for virtually destroying the company.
Italian MDC crucial for proof of concept or its lights out for their lifestyle.
No up and running profitable project/ MDC yet after 4 years of waffle .
Lovely
Nice to see them buying at last even if its only nearly 2 weeks wages for Palumbo and a weeks wages for JVDL.
What a horrendous journey they've brought us on since they last bought in July 2022 at 0.5p .
Hopefully things will get better and this isnt just a rouse to keep the lifestyle going a few months longer.