Member Info for PuzzledPete

I seriously think Maidit needs his carers, if they haven't already, to get him sectioned. He's obviously lost money on the six other cos he was 'following' when he arrived here, all of which had been tanking relentlessly. The protective responsive of someone suffering those blows is to withdraw from reality and keep repeating the same mantra ' This share's going to go up'. Its going to go up'. Its going to go up' - and so on and so on.

What 'assets' would they be Mr OilyB ? Can you understand balance sheets ? Last one June 2025 tells you all you should know, but obviously can't be bothered to know. One due tomorrow (if it ever arrives) will show you they've diminished since then. But issued shares are 20 times more (allowing for the share consolidation). Do you understand what that means ? Thought not.

PS. But if broker Fortified who placed the new shares is embarassed enough to resign, that's definite curtains for the listing and loss of everything for everybody. It follows Novum's unannounced resignation last Autumn, since when Fortified only stayed on to protect its parent Riverfort's stake in Pyebridge - which isn't totally necessary because if QDE goes bust or is delisted, Pyebridge can still continue but won't be of any value to QDE shareholders.

Anyone holding on now or even 'averaging down' (where are you Mr 'Man from Liverpool' ?) is taking an enormous risk. Tomorrow might be last day to save their shirts

I stand corrected. But I've never heard of an auditor resigning only a day or two before a reporting deadline. Nor have I come across a situation where newly issued shares are due to trade only on the last reporting day, and in this case on the day suspension looks likely. All sorts of unpleasant legal actions are likely to be sparked.

Mr NeverMaidit Your usual empty headed but pompous and fairytale take on bad news. The accounts have obviously NOT been completed so as to be signed off. Crowe would not have resigned if they are ready to be. Your inability to think logically has always been a stain on this board.

By A|I in answer to question how long can a co without a auditor keep trading

The True Deadlines to Avoid Suspension

Because an auditor is required to sign off on financial statements, a company's ability to avoid suspension without an auditor is entirely dictated by its mandatory reporting calendar:

Annual Financial Reports: Must be published within 4 months of the financial year-end.

Half-Yearly (Interim) Reports: Must be published within 3 months of the end of the reporting period.

If a company cannot produce audited annual accounts by the 4-month deadline because it has no auditor, the FCA will immediately suspend the listing of its shares to protect investors.

🚶 The Dislodgement Timeline

If an auditor resigns, the following mechanical statutory and market steps occur:

Immediate Notice: The company must notify a Regulatory Information Service (RIS) immediately about the resignation of its auditor.

28 Days to Notify Authorities: Under Section 519 of the Companies Act 2006, the company has 28 days to notify the relevant audit authority of the cessation of office.

No Set Deadline to Reappoint: Legally, the company must seek a new auditor promptly, but the FCA will not suspend trading simply because the auditor seat is empty for a few weeks or months. Suspension only takes effect if the deadline for filing verified accounts passes.

🚨 Maximum Suspension Period

If a company's shares are suspended because it failed to file audited accounts, a secondary countdown begins:

The 6-Month Rule: Under UKLR 21.1.5, if a share's listing has been suspended for 6 months, the company must contact the FCA to discuss whether it is appropriate to cancel (delist) the listing entirely or agree to a strictly monitored extension.

So it looks as though suspension should be immediately after the 4 months reporting deadline is missed. ie by this coming Friday morning

It was an individual called Christopher Nicholson running the unregulated and unauthorised 'ACF Equity Research' Look him up on LinkedIn. He's a Walter Mitty in the same mould as Krugel, and produced similarly fraudulent paid-for puffs for EUA and Kibo which lost their punters nearly all.

If, as Krugel says, this was 'unexpected', ie only yesterday, any potential new auditor would take months to find, and then would take his own time to understand what has happened before signing up -if at all. Crowe's have been auditors since yonks, and have been warning of potential insolvency for the last few years. Krugel probably didn't want them to do so again. As ever with this cos announcements, read between the lines (and flee)

A regular feature of any Krugel related board over the years.

You were all told. (except the very few who bothered to research Mr Krugel properly)

If you can't get out on a lemming rush at 8am, you'll never get out.

Yes.

I think they must have overheard some bloke down the pub saying "There's these things called shares. You buy them, and they go up"

Here is a fuller description of QDE's EST market status and rules

Eligibility: Only for companies previously on the Standard List; it is closed to new applicants.

Rules: Maintains the "status quo" of the former Standard Listing rules, meaning these companies do not yet have to comply with the enhanced "comply or explain" corporate governance codes required of the ESCC.

Exit Path: Issuers can move to the ESCC through a streamlined transfer process, which requires appointing a sponsor and meeting higher eligibility criteria.

Its one reason why over 6 previous 'partners' trumpeted by Krugel have never signed up. Ditto any reputable broker or PR firm.

Who is it that regularly lies Mr Invester ? Been here 6 months and you still haven't understood a jot about this company, nor checked anything. We can only assume you are educationally backward, or have some mental issue - which is why you haven't yet been banned. If you continue to mislead and denigrate those who post verifiable facts on here, look out for the consequences. Best take your infantile drivel somewhere else

I've told you. Its only on a practically unregulated 'segment' of the Main market. Its confusing admittedly. But PK knows full well, so uses that ambiguity to pretend he's on the well regulated main market. Its all in Mast's 2021 listing doc, since when there has been no change

QADE is not listed on AIM. It is not listed on what people think is the Main Market either. It's listed on a bywater of the Main Market called the Equity Shares Transition, which is for former members of the LSE 'Standard' market which has been abolished. It has been abolished because it was the least well regulated of any market - much worse even than Aim which requires a co to have a Nomad to ensure accurate and complete regulatory announcements. The Standard Market (to which Mast was admitted in April 2021 - look up the 'prospectus') has no requirement for a Nomad, so was the resort of the dodgier companies. Mast's own prospectus (it was actually a listing document because it didn't raise any cash - which was 'off market' before listing) had a disclaimer from the FCA saying it would not be responsible for ensuring Mast complied with stock market disclosure requirements. Ask yourselves why it went for 'Standard'.

Those cos on the EST will have to transition eventually to a market approved by the FCA. At that time QDE will have to be much more open about its business than it has been able to get away with up to now, and will have to comply with their more onerous disclosure provisions.

Just like the way PK slides over suggesting QDE gets all the generators 'revenues' (when they don't), he also slides over the truth when claiming QDE is 'On The Main Market'. All verifiable if you read the 2021 listing doc and the 2025 warrants prospectus.

And for the benefit of one of the 'investers' on here I didn't lose any money on Kibo. I recognised from early on its boss was similar to Mast's, but warned all - before it lost investors over £100 million, including one poor mutt who invested all his £1/2 million pension by continuing to 'average down' - just like a certain someone on here apparently from up t' North.

How about learning something of QDE's background Mr Magpie - You'd know that lack of cash has been a constant feature - and insolvency mentioned in every auditors report since 2022. So needing to know where said cash came from and how long it will last, is what any intelligent investor in QDE will want to know.

Amateur - We don't know yet of course. But Banks can lend up to 60%. On your assumption, repayment would be £150k pa leaving £105,000 for QDE (or maybe £200,000 with Capacity Payments). That is more than Pyebridge or Hindlip, and (with capacity payments) represents a just acceptable 20% pa return on QDE's £1 million investment now (but a pathetic 2.5% on the total it will have spent). It is also before tax, and won't be until after Bordersley's first full financial year - ie QDE won't get it until April 2028. Meanwhile its overheads are around £750,000 pa. We'll see maybe tomorrow.

Ah ! Yes. Mr Moneyman.

So a 6 year old has pinned QDE and Krugel down - getting correct the true return shareholders will get from his wheezes. So where does that place you -age-wise - who has not the slightest clue what you're invested in.

Would a Kindergarten still take you ?

Yes. Another £3.5million to be spent. And we don't know how much is a bank loan. So we don't know how much Krugel's shareholders will have to spend, or how much of the c £450,000 annual operating profit will go to repaying the loan (about £188,000 pa per £1million @10% ; £217,000 pa@12% over 8 years) and therefore how much of what remains QDE will get.

But that £3.5 million comes on top of £6.825million spent on Bordersley by Jan 2022 (conveniently when owned by Kibo where Krugel was CFO) - and subsequently at QDE written down to zero. - So we assume disappeared into the smoke and behind the mirrors Krugel is adapt at)

But it means shareholders and banks will have spent over £10million on an asset producing only £450,000 annually (maybe £650,000 with capacity payments). Thats brilliantly pathetic management when even a sweetie shop owner let alone a whelk-stall will demand at least a 20% return on a lump of metal depreciating to zero after 20 years and dependent for any profit at all on unpredictable capacity payments.

That was the 'ace experience' Mast told its shareholders it brought to manage their money.

WE've had a number of 'immediate growth opportunities' in Walter Mitty's 5 year career. None have come to pass. If this one does, (wait until contract signed rather than a memorandum of understanding) beware of its terms and conditions. Krugel does not have enough cash to take a meaningful stake in anything (even after this latest fund raise) so the funding means outsiders will, again, take most of whatever it generates. Meanwhile, as in all its cases, the share count has expanded to make whatever small contribution QDE is offset by the dilution. Those on here who don't seem to understand what dilution does to the value of their shares - look it up.