Member Info for Setanta1

Jimzi is right. The lower the SP the better for Bercheva!!!

Jarv55 Monecor sold 40M shares.

The blame game goes on but it,s probably a waste of time. We do need to have some response from the company about the possible continued issue ,(or not), of CLNs. Just a few points: 1. Perroverde. Your remark about the market having been "awash with positivity" hardly squares with the company issuing 246M shares at .65p in the placing. The investor error was that people chose to ignore that salient fact. Also Ebioss has a material responsibility for what happens to EQT. It is the major shareholder and effective owner of EQT. But that's a detail just now and Eiboss has it,s own liquidity problems just now. 2.tritom, EQT has undertaken not to issue equity until 27June and yes, Bercheva now has the right to be consulted about the issue of further CLNS!!! I still think this is a good enterprise and it will come goo in the forseeable future.

Jarv55,you're still assuming that the Bercheva CLN was converted and sold. We don't know that for sure.It could well be that Manecor selling 40M shares precipitated the slide, or it could be that the BOD had little alternative but to accept what money it could raise by whatever means given that it had declared a stay on the issue of equity until 27 June 2018. That is the correct date, by the way. It is absolutely pointless to blame Northlands and one director for accepting a deal which, although apparently poor, was perhaps about all they could extract in the circumstances. And we are still awaaiting comment from the company to the host of shareholder protests.

I understand the chagrin of investors who are taking a battering here but these are my opinion: 1. I doubt that the sole reason for the SP collapse is related to the Bercheva CLNs. I even doubt that those CLNs have been converted and sold. 2. At the time of the RTO the company placed 246M shares @ .65p, and lo the SP is now returning to that price which is fairly normal. 3. EQT is experiencing severe financial and liquidity constraints. It cannot do another placing before 27 May 2018 and it desperately needs cash. The company even needs capital to kick start the contracts in which it is, and will be, involved. 4. The whole Group is suffering from liquidity constraints and the SP of Eiboss has fallen 10.5% today alone. In the past year it has fallen 77%! 5. EQT was formed basically on the satisfaction of a bad debt. There was no pot of gold to get it going. And there isn't one now. And having said all that I still believe EQT can be a great success. It will need that pot of gold from convinced investors and that may take time. But the project seems good to me.The fault does not lie with the EQT BOD. It lies with the necessity to find the cash that will prime the pump.

First line of my last post should have read "The fact that the CLNs are secured ....". Don't get too excited man it's bad for your already bad written English! Sorry about that.

The fact that warrants are secured does not make any difference in how they may be converted and sold. I still think that the sell off last week and the subsequent SP collapse had little or nothing to do with the Bercheval deal. One one do better to keep an eye on the placement shares which have no restrictions and which are close to the current SP. Uncomfortably so for the holders Quite frankly we're all guessing here but the company has been anything but transparent in its provision of information on finances. The RNS ref. Altair is a classic example of that lack of transparency. The encouraging news is that the SP is now approaching the Placment price where it should halt, at least!!

There is no evidence that Bercheval converted or sold any of it's CLN entitlement shares last week.There were, in any case, only 150 M shares TRADED last week. I thhink we should leave it EGT to pronounce on its dealings with Bercheval. They must do so very soon. Best not to vilify people who may well be innocent. And by the way because a company is dormant it does not mean it is doing something illegal. There are frequently sound tax reasons for dormancy. It is also worth noting that Bercheval's accounts are up to date ,(to April 2017), and it does not need to post fresh accounts until April. Todays activity by the MMs and the brokers is clearly aimed at taking the heat out of the situation by discouraging both buying and selling. And what about Altairs CLNs ? Nobody has yet explained why they differ so much from Bercheval's. The commentary here is like looking at a picture but ignoring more than half of it.

Still no replies to the Altair situation!! But it now appears that last weeks big seller was Monecor not Bercheva! A crumb of comfort,uinsionn, Eiboss don't need to worry about their 50% shareholding. Inava hold 19%, and Eiboss is well in control of Inava!. Hope the rally continues, but there is now a danger that the other placees will break ranks and begin to sell into any rally arounf 1p.

We still have no clear proof that Bercheva has converted or sold the CLN shares but all that should be revealed this week. Meantime I have other concerns as follows: 1.What about the Altair CSLN for �2M? If it is customary to pre sell CLNs have those not been converted and sold? The conversion price is just .585p. The number of shares would be about 360M. 2. Attached to the renegotiation of the Altair Loan they were also granted a further 105m shares@.975p and �300k in interest on that loan up tp July 2017. That is now payable. 3 That leaves Altair with 445M shares available on a secured loan before a penny has been paid off. 4. On top of that there are the 246m shares sold to the Placees @.65p and we are left with an overhang of almost 700m shares @.75p. So why does anyone think the financial institutions would be gagging to get in here? EQT seem to be in a poor state financially and so far we haven't seen any of the high tone partners diving in with offers of financial help. There's a lot more than Bercheva to be explained here! PS. I overlooked the �620k of secured loan still outstanding to Ecofinance.

I have some difficulty persuading myself that EQT is not under severe financial constraints which may account for the latest CLN activity. Part of the RNS of 19 January relates to the outstanding CSLN with Altair ,(for �2M), which had been restructured such that the rate of interest had increased from 7.5 to 15%, whie Altair had been granted the right to convert it at .585p per share,( Is that around 350m shares?), and Altair was also granted the right under the restructure to subscribe for warrants for 105M shares @.975p for a period of 5 years. EQT also undertook to pay Altair �300k by 30 April 2018 or at the next capital raise,(i.e now!). Is all this yet another dreadful financial deal sitting in the background ? I wonder whether Castaway, who appears to be well versed in strange CLNs might have a comment on the Altair situation with EQT.

Thank you vey much for your very coherent explananation of the LN issue and I shall wait to see whether we see RNS confirmation of the conversion. If it is as you desribe it then EQT must be in dire straits financially to accept such dilutive finance, and that alone would reduce my confidence in the future of the enterprise. My feeling was that future tranches can be set aside at the company's discretion, but that too may depend upon its financial situation. One last point. If everything you say is correct what can one say about a company whose credibility is so low iin the financial markets that it is forced to accept such a dreadful deal. Thanks again for your explanation.

that it is highly unlikely that the company will be looking for any more Loan Notes if the SP falls below .1p especially since they must be issued in tranches of �1.5 -�2m. I know the deal doesn't look great but 1) we do not know whether anything has been converted, ( not to speak of sold), to date. That's just the speculation. 2). this could represent easily available short term money for the company and it can easily be terminated when it has served its purpose.

And bogs. Not interesting because that event needs the consent of Bercheva, not of the company. Best to read the conditions carefully!

Friend crl 123, the answere to your question is yes, and with about the same attitude as your own. Stay well.

the hoopla and the complete surprise. A couple of posters have proposed a hypothesis which the vast majority of the posters don't even understand but with which they have fallen in with as if it were positive fact. Real facts are that EQT is now trading very close to the price paid at the RTO and since then the company has raised necessary cash from whatever source it could and at the prices those sources were prepared to pay which was around .65p. The effect of all the fund raising has been to dilute the SP, which is hardly surprising, to somewhere close to that .65p. EQT is awash with placing shares, warrants and CLNs. We don't know who are the sellers of the past couple of weeks. Speculation is just speculation and a lot of it probably comes from folk who are not even invested in EQT. The people calling for resignations etc., really don't know what they are talking about. EQT looks like a very good project but it isn't for the ultra short term punter and those who bought in this year are likely to have to wait some time to see the recovery they naturally wish for. Meantime it might be best to show a bit patience.......or just sell out.

The brouhaha about the loan notes has largely been fomented by two posters and I do not at all wish to suggest that they may be incorrect in their assumptions as they appear to be extremely experienced and knowledgeable in the matter. But....in the week before the loan note the EQT share price fell almost an equal amount to this weeks fall with no such reasoning. Also the total numbet of shares traded in tha past week has only been around 190M which is not enormous in a company with 1.4b shares. Bear in mind also that Spreadex has been offloading significant amounts. Might it not be that the price fall is related to offloading by the big three in the placing? Doesn't sound quite so esoteric but is it not possible? Remember that SPs tend to fill gaps and there was a huge gap in the EQT SP between between 3p and .65p. EQT ,In any case, is awash with warrants. Why haven't those been sold before now?. There are many aspects of the EQT story which don't thrill me. A company effectively founded upon a bad debt satisfaction, with a complicated structure and a lot of debt and which is poorly understood is hardly a thriller but the latest Loan Notes may not be responsible for all it's current woes!

A distressed seller is someone who sells because they need the cash. None of the Placees fit into that category and none of them have sold any placing shares.If, as tritom says, 75% of the trades in February have beeen buys it indicates that the fall in the share price has been manipulated and one possible reason fot that could be because there is a further low price placing being negotiated. By the way, uinsionn, when I said that I read the reports I meant that I read them in their original form. I don't need anyone to post second hand material for me, but thanks all the same. Just to be clear,I believe EQT has a bright future and I think the SP will prosper but it may take more time than some AIM investors will tolerate.

uinsionn, I actually read the articles!!

What big seller, uinsionn? The total number of shares traded daily in February was about 6M . Many of those were buys and many more were manipulations with individual accounts and thus didn't really represent a buy or a sell. THERE IS NO BIG SELLER.