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TechyRob: you rightly say you asked the quesion and it was said that the agreement was not dependent on the fund raise -
BUT how can anyone believe the company/JM as he also implied agreement before the end of December and even said twice at the meeting it would be signed by the end of March. I think there is a reasonable possibility that the signatures are dependent on the funding . We need to remember that this is a triple agreement and not just bewteen QED and MSC - MSC
is also making an agreement with Cargill - just hoping for all our sakes it gets done before the end of tis month!
I think JM did not appreciate that an agreement is not just with QED and MSC but also with oil sppliers etc etc at least 3 agreements ALL INTERWOVEN and probably will need / can only be announced together. MSC will have to have agreements with Cargill and one other as well as QED - no wonder it will take time.
Glad they have done the extension for those lucky enough to benefit from getting investment tax free in their new year ISA - but why congratulate the QED board and touch forelocks when once again they were hopeless in making an obvious error in not realizing the timing of the new tax year , they are such amateurs - just hope that the price does not go below 1.25p if there is no agreement as the board/JM indicated before the end of this month - the extension at least gives some of us time to consider whether to support the company.
Vince
like you probably hoped for December but not surprised it did not happen given Mr JM Imminent - what is shocking for me is that despite over optimistic forcasts by JM for years the board have allowed him again to mislead us- this for me is the reason that that we are now below 2p i.e. lack of confidence in JM and the Board - I still think that the odds are that we will get the agreement I hope before the end of this month - I would have got out a long time ago because of my lack of confidence but not worth it when under 2p - just desperately hoping. Same problem with Morocco with the call for funding at 1.25p was based on positive news on Utah and Morocco - will JM and the board ever learn ? - well many of us have as have many potential large investors hence the share price despite what is I believe a very important product - I worry that we could be taken out at a low price because of lack of professionalism and competence and naive over optimism
Brilliant report - many thanks to all who went for their time and expense on our behalf - special thanks to Burble61 for putting it all together.
Only worry now is whether the March forecast from Mr December Imminent means June 2024
You indicate legal costs aound £300 per hour ,so with salaries, pension costs, running costs, travel etc etc. how do you get "cash to last for 8.4 months from " ?
Gribbler: take your point but yes it has taken so long to deliver - that would have been tolerable if JM and the Board had been honest with us about time scales - the latest of course "December". It is one thing to be over optimistic once but time and time again we have been misled by JM - he has never learned and he has never been held back by the board credibility is lost and this IMO is why it is so sad that the share price has fallen back on the great news yesterday and interested backers have held off having little confidence in the deceitful imminent projections of this company. For me for example I will not forget the near dishonest talk in he last fund raising of imminent funding from Utah and Morocco. I have great hopes for QED I just wish JM was the chief scientist and not the CEO and the board despite all our warnings had pulled him
in.
JM was expecting a question re finance but because of his naivety, ( and the chairman and board), an answer was not prepared - however his response - being flummoxed IMO was helpful in that it indicated he, and the board, knew the funding situtastion was covered - the same sort of stupid naivety that said December when with 3 or 4 partners
with dozens of lawyers negotiating a complex agreement - I am hopeful but suggest we keep cool until the end of February - surely we have learned that a 2 or 3 month delay is what to expect from a JM (will never learn), imminent -
nil carborundum illegitimi !!
IF it comes off plus Morocco I think 7-9p - then up to 10 plus - then profit taking settles at 7-8 IF the lot comes off - thinking it maybe midFebruary to late February IF it comes off - if all goes off well - trial etc could be anything with other contacts coming it - just dreaming! best wishes especially to LTH's
Semaphored
Very sorry you have not been well for quite a long time - I do hope that your recovery happens soon and my very best wishes to you - hopefully you will rise along with the share price! I hope you are being looked after.
After a long time wondering about your, for me, rather different contributions to this site I now have begun to enjoy what you say even though at times I cannot fully understand what you contribute - I like acerbic comments which you sometimes offer I think.
best wishes to you
It is not scaremongering to worry about the need for fundraising - the chairman said at least 3 times that it was a concern and of course it is a concern as without the Utah money funds will have to be raised in January 2024. It is the chairman's
open public concern that has caused the shareprice to drop.