RE: Will it or won’t it15 Aug 2025 10:05
Another fantastic week for Deceitful Dave pocketing £6k with yet more dilution thrown in for good measure and nearly succeeding in hitting another all time low shareprice.
BurrenBoy,s synopsis says it all .
Bump.
So the next piece of Palumbo's devious puzzle gets put in place ....
i) Drive down the share price via mismanagement and perceived incompetence, issuing cheap equity to close friends and associates who were happy to sell cheaply and quickly after paid for lockin periods. or buy non existent tech from snake oil salesmen who ride off into the distance with the cash never to be seen again. All designed to achieve the goal of devaluing the company to a point where he makes his big move. (Remember he told us he wouldn't take the company private at the much higher valuation in the 2023 AGM, well it looks like we now know the value he was talking about)
ii) Position himself as a director of a JV company, "Compact WTL Tech Limited" in Jan 2024, on the face of it because of his role as CEO of EQTEC, but now we know that wasn't the case and it was self interest, just over a year later EQTEC's interest in that company is removed but Palumbo is still sitting pretty.
iii) Just a month after the announcement of the CompactGTL announcement we get the start of the verde debacle, throwing into complete doubt the company finances and further suppressing the share price, putting. the solvency of the company at risk.
iv) Even after receipt of £2M in cash from Logik, Dilution Dave needs more cash and a lower shareprice for his plan to playout fully,
v) Convert the outstanding debt from being backed by now worthless equity to being secured by the one thing Palumbo desires, the IP of the company.
iv) Refuse to cut costs and overheads forcing the balance sheet of the company to bring it to the brink of oblivion, where any independent director of NOMAD will be forced to sanction anything in order to keep the company solvent, remember the combined equity of the independent directors is less than 4M shares, or 0.55 percent of the company, so they are more interested in salaries being paid rather than the shareholder value)
v) Now the "God Sent" strategic investment comes in from Compact taking 28% of the company for a puny £1.5M stake, but at this point to the independent reviewers its that or the highway, so they rubber stamp that deal in the best interests of shareholders.
Now at that moment if the company goes belly up then Riverfort and YA have the IP secured against their interest so Palumbo needs to get his hands on that somehow, so Compact take over that debt and transfer the security to itself, surely that is a "Strategic partner" acting in EQTECs best interest you say, acting in their own interest more like.
Now the end game begins, to get full control Compact (Palumbo) needs a bigger slice of equity, so the "strategic partner" offers a facility to give more cash, in exchange for another slice of the now much devalue
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