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Agree price likely to stay in this fairly tight range until a signed contract lands. Recent MOUs good news but both require funding to proceed in Vietnam this should come from the Asian Development Bank but these can take many months to obtain. The one in California I believe the power utility has said it is uneconomic and has turned down the option to but the power at the proposed production cost compared with solar so again the operator is looking for a grant. Sure it will come good in the end.
Another week of BB hype followed by share price drifting lower. Or given that the wider market took a beating last week compared with the continued drift I reckon that the share price has held up pretty well. We need a new MOU or better still a signed contract for the price to move up and stay there, News in November I expect these things take time. Anyone remember the heady heights of 1.4. Or better still 6p.
2 of 3 board members of the old eqt remain. Ebioss remain the largest shareholder remain on the board and have 1 of 2 independent directors whose approval and support is required for any major investment including the recent £10M loan. With all the reorganisation EQT is pretty much the only business/investment they have held onto. The fact they have no cash is the reason that EQT had to issue substantial shares to secure funding in August and why an external loan had to be secured. Good news that that they were able to secure the loan bad news that they were unable to secure funds from their major shareholder. It’s a shame they do not sell their shareholding to some with big pockets .
Appreciate some have got excited about the fact there was no share placement in recent loan agreement but a few months ago there was a major one .There is a 4m standstill agreement after the recent share placement. These are long term investors so no reason why they should sell but ...........
The Company also announces that in accordance with arrangements entered into on 5 July 2018 and the conclusion of the standstill period announced on 30 July 2018 the Company has issued and allotted 307,194,667 Ordinary Shares arising from the conversion of loan notes entered into on 5 July 2018 with Origen Capital LLP ("Origen"), Altair Group Investments Limited ("Altair") and Ecofinance (GLI) Limited ("Ecofinance").
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Upon issue, each of Origen, Altair and Ecofinance will hold ordinary shares, comprising the following percentage of the enlarged issued share capital of the Company:
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Origen
191,666,667
10.71%
Altair
100,000,000
5.54%
Ecofinance
15,528,000
0.87%
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Each of Origen, Altair and Ecofinance have entered into an orderly market agreement with the Company under which they have agreed to certain restrictions on the disposal of any Ordinary Shares issued to them under the above mentioned arrangements depending on the trading volumes of the Ordinary Shares on any given trading day. Such restrictions apply for a period of four months following today's date. Altair and Ecofinance are longstanding investors in the Company and have supported its development with investment since 2013.
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The conversion of the loan notes also resulted in Origen being granted with warrants to subscribe for 95,833,333 Ordinary Shares, Altair being granted with warrants over 50,000,000 Ordinary Shares and Ecofinance being granted with warrants over 7,764,000 Ordinary Shares, all at an exercise price of 0.75p per share, and all exercisable for two years from the date of grant.
Alternative research
- Major shareholder in financial difficulty
- Major investor Black Toro pulled out after reviewing Ebioss and it’s major asset eqt
- MOUs still to be converted , last MOUs in America and Vietnam are reliant on grant funding
- Revenue is not profit which will be hit with the expensive costs of outsourcing engineering support
- no placing they said that in recent RNS before souring a further 400M shares
However the company is in a much better place than it was a few months ago. If it can get one or two MOUs converted into real contracts and the link with Cobra produces the current prices will represent seriously good value in 12 months time.
Just drifting lower with little buying or selling. Worth holding for now as it’s reassinable to expect one of the MOUs to convert into a contract and then eventually the contract to convert into revenue and hopefully profit. The share has a definite upside but given the additional shares issued with the last fundraising (400 million+?) it’s more likely to be a slow positive grind.
Last month we were told numerous times that the amigos were taking us to the moon but unfortunately we were unable to get off the ground b hot air alone.. Meanwhile back at base there was a change of leadership who have steadied the ship and are planning for launch, they have been promised a delivery of fuel but as yet none has been delivered but preparations continue. By Christmas we hopefully will have a successful launch and reach the orbit of 2-3p and then onward
Only positive options on this share I believe. Be an easy nteresting couple of months up to Christmas.
Happy to be a day trader here for a while longer , clawing my money back from previous purchase at the heady heights of 3p and 5p and before they blew it away in a desperate scramble for cash. Now with the 400m extra shares and the new banking facilities the company is stable. Need a signed contract for share price to break out if this range IMO.
I think this share has good potential , but Ebioss is still the main shareholder and being Spanish obviously still influence the main operation in Spain. Ebioss still have 1 of the 3 board roles and also non executive roles. The re ent issueing of 440M shares means a further dilution was unlikely. The 3 month non sale period runs out shortly.
The new CEO is likely to prevent the share price dropping much but to get to 2 or even 3p we need a signed contract hopefully by year end. After that onwards and upwards.
Vietnam opportunity is reliant I suspect on ADB funding should happen but takes time. Latest US MOU the utility has declined to buy output as solar is cheaper but there is a chance of a state grant. EQT has done all it can but is nor reliant on clients getting funding and permissions in place. Need signed contracts to get share moving.
The backstop should be 0.75 the price of all the warrants given to the last lot of financing. I agree with Setanta with the majority shareholder unable to support EQT financially this restricts any significant investment . The recent announcement to team up with an engineering consultancy for engineering support hopefully will break the technical logjam but this is an expensive route. I took the last RNS as positive shifting the emphasis to converting the existing opportunities into money rather than seeking new contracts. This is likely to be months rather than days, keep the faith.....
Perhaps the amigos were largely an amigo and have sold out of their short position. It takes time to convert MOUs to contracts and even immediate in business terms can mean the next quarter. With all the extra shares issued recently it’s never going to rocket IMO but a slow cruise up towards the brokers forecast of 3p over the next 6 months once contracts announcements would be welcome.
Good to see the price edging back up to where we were 3 or 4 weeks ago. Hopefully with the renewed focus (and the Client should be eligible for the recently announced ADB funding) we might get one of these MOUs converted to a signed contract. Recognising the skill shortage by signing up with CT3 should mean revenue comes in quicker although hey will no doubt soak up a reasonable chunk of profit. The omens are good