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This is really all a distraction on the real take home from that call.
I didn't agree with that caller and as I stated in my previous posts I didn't believe the financing deal signed was death spiral financing (although I had to google that term) so my knowledge on the subject is limited. I thought , however, the caller was genuine in his concern on Bergen being able to dilute the SP - if he is a shorter then my mistake.
One thing all this BS about the caller does is drown out the rest of the call which was a let down.
Everyone has their own opinion but there was nothing solid on that call, and anyone who says there was is wearing a very solid pair of rose tinted specs.
I cannot see anything happening this year in terms of commercial deals so am expecting a sidewards trading market until we have something concrete.
Indigo I am buying the drinks if your prediction is right 15p by Xmas. I will be back on here then to see how close you were
I am just stating my opinion that the caller was concerned over the Bergen funding deal and that it will dilute us, whether he is shorting QFI or not was not disclosed on the call and we have no evidence of that, it's purely hearsay from those wishing to discredit his point of view.
indigo I actually like your confidence on SP prediction by Xmas and your bullishness has rubbed off on me - I wish you'd hosted the call yesterday instead, I think it would have had a much more positive effect.
Petergar re the caller you are referring to save you the time of listening to whole call - https://www.quadrisefuels.com/sites/default/files/2019-08/20190828_1500_QuadriseFuels_MP3.mp3
Go to 14 mins 30 seconds.
I am taking a contrarian opinion but I don't think he was crazy, I think he strongly felt the financing deal is risky for QFI - that's my opinion anyway, I thought he came across as quite knowledgeable on this type of deal and his concerns seemed valid enough.
1. It seems that you're the only one who has thus far stated that you're disappointed or deflated, yes.
Well myself, Foxm and BarkingCrazy all felt the call left investors a little less confident actually.
Indigo - "commercial progress' is such a vague phrase and has no meaning whatsoever.
Name one part of the call where he led us to believe we would sign a commercial deal in 2019?
"None of us are deflated"
Ok Indigo (who strangely popped up 2 weeks ago after being banned from the forum?? hmmm)
So I am the ONLY one who has come off the call feeling this way? I guess it all comes down to expectations - I was expecting by this stage we would be close to a commercial contract being signed. We are not.
The only positive I can take is the funding has been secured to keep us afloat to "explore opportunities". Anyway else notice how many MK referenced "exploring opportunities" - I would have hoped by now we would be somewhat past looking at opportunities on onto the business end.
The timeline mentioned re the European Refiner was very vague and it doesn't sound like it would be close to getting commercial for at least 12 months - and that seems to be our best bet for the moment too. Depressing.
I think the rest of us are pretty deflated after that call. There was nothing really bullish in Mike's tone or anything to lead us to believe we are on the cusp of any deals.. a bit of a damp squib.
I think 2019 can pretty much be written off. Oh well let's see what happens next year.
Thanks Fyoz I was calling in on speakerphone from my car and missed large chunks due to the signal.
Correct me if I am wrong but in terms of signing a commercial deal there is nothing for 2019 at the moment - but subject to testing going well and agreements being found - 2020 QFI could finally commercialize?
Lol The BOD obviously don't read these boards as they don't seem to have taken my idea on board.. lol
It's a shame I would have thought by ploughing more resources into boosting the business development team (as opposed to overpaid exec salaries) it may result in, say, an actual contract? Lol.
Well Indigo we are all too well aware it's pre-commerical - how many years does a company need to actually commercialize itself... 5.. 10...14 years (as is the case with QFI to date).
Petergar exactly - it's a gamble share. This is AIM. But frankly watching these proactive investor interviews (which by the way the questions are pre fed by the AIM company and Proactive charge for this PR) it's like listening to a politician, basically MK said nothing new - and Thursday's conference call sounds like another dull hour wasted.
QFI hurry up and give us something real FFS.
I'm off before the Propaganda brigade attack - as usual making it personal.
Good night all
Apologies if you feel my comments haven't been accurate.
Perhaps you can respond (without getting personal) whether the following information is accurate:-
1) In the last 3 tax years QFI have posted loss £12.2m in pre tax losses
2) In the last 3 years QFI Board of directors have received £1.9m in salaries/bonus cumulatively
3) In the last 3 years QFI share price is down roughly 60% from it's 12.75p (SP as of 31st Aug 2016).
Please feel free to correct any of the above points if I have made an error and apologies if you feel all long term holders should feel positive about those figures (I am not one of them).
I have simply questioned, justifiably, the performance of the current board and yet am consistently slated, bizarre!
Some of the posters here seem to be have anger issues and some deluded thought processes. I will just ignore the strange abuse from here on in.
I am publicly stating I have held QFI for more than 5 years and I do not plan to sell - even if it goes to 0! I am a LTH and I want to see this company succeed.
The board have failed to deliver Shareholder value so far and I have stated that too. I have been very consistent in my comments.
We need to start signing commercial deals now, end of. We have more time now, so let's see what happens.
Looking forward to the conference call this week and I am hoping that we will get some clear information on where these contracts are going to be coming from.
Best of luck to everyone
indigo just a slight correction - your second comment "Remember this is a company with zero revenue who got a hedge fund to write them a cheque for £2M with the promise of another £2M"
Number 1 - This is NOT a Hedge Fund - this is an Asset Management company Bergen Asset Management who manage the Bergen Global Opportunity Fund ( this is a closed private equity fund NOT a Hedge Fund) there is a significant difference between the 2.
Salinger - I really don't want to even dignify your comments with a response but it's difficult.
Your only contribution on these boards is to rudely attack anyone with a conflicting opinion to yours - labelling them shorters and trolls and all manner of names.
Maybe not everyone agrees with my comments, however at least I do so without having to constantly belittle others on here which seems to be your forte.
Anyone with an Iota of intelligence sees straight through you - your credibility level is 0.
@Petergar I think it's important in life to see the situation as it is but don't see it as worse than it is.
The people saying this is a 'Death Spiral' finance deal I disagree with.. but I don't agree with the rose tinted brigade who state the MK has pulled off a master coup.. This is not a new type of financing deal whatsoever, so that is incorrect.
This has given the much needed time through to June 2020, ok good, but what QFI actually do with this time now is key.
I would love nothing more than seeing these contracts signed, but the pressure must be applied to this board - they have failed to deliver so far and this cannot go on indefinitely - have I said anything here inaccurate? No.
Will I get slated here again by the likes of rampers like Salinger etc? Probably.
Do I care? No. Intelligent posters see though this BS and the market only reacts to real news now. MOU's or MOA's will no longer attract the big money, what's needed now is that first signed commercial contract.
Will it happen? In the words of Noosking (which is spot on) "we are all aware this is high risk and could go either way"
Some of the comments are here are just pure ramping..
We have borrowed £2m from Bergen and need to pay it back.. it's debt.. yet we're celebrating like we have done a huge deal. All we have done is buy more time.
Some on here are saying this is a very clever deal, like we structured it ourselves? lol
Read this article and you will see Vast Resources - Another AIM company did the EXACT same deal with convertible bond - and the placement they did was simply to pay back the convertible security issued to Bergen! https://www.proactiveinvestors.co.uk/companies/news/214566/vast-resources-raises-896000-via-a-placing-and-subscription-to-pay-off-bergen-convertible-security-214566.html
Yes we have managed to stay afloat which is good, but we should never have got into this position in the first place.
We have just followed suit with the same borrowing method as Vast Resources - let's put the champagne on ice until we actually start making some money!
MK "The initial tranche of the funding from the Investor is in the amount of £2m, and it will provide the necessary funding to continue the activities noted above through to June 2020"
Yes there is more funding/debt available after year 1 - however I think we all agree if QFI are in the same loss making position they are now in 10 months and need to take that money, it will not be seen as a positive by the market.
The fact is we NEED a contract ASAP. We cannot continue posting million of GBP's of losses year on year.
This is a crucial 10 month window.