Member Info for Simms45

We got £5m in March 2024 so thats a good 12 month amount at £400k a month (even though Harry has said £200k in the past) and Harry is past master of running on fumes. Why are we thinking just 4 1/2 months later there is any placing on the cards? Have i missed something? Harry has a timetable and so far all is largely on track. Once 2nd bank gives us written approval and not informal its all “chocks away” for TK as banks are biggest part of funding deal. Just need to wait for this event and we will be ever closer to converting our $95’m sweat equity into our 80% stake. This will be a significant value creating event for all shareholders that is 3x minimum todays market cap. If all the things go to plan over next 6 months 5-10x is not unlikely given Saudi will get properly valued and upwards of £100m for our 25% stake. Not long now!

Original case against Logik was £4m (probably a bit overblown) and the offer was largely based on quick delivery of cash when Eqtec needed it most. Sadly it did not materialise as Logik suggested so if Eqtec now get cashflow steadied there is an argument Eqtec might take them to court for full amount if they have broken agreement. So far they have not but Logik will be very keen to settle this for a discount and it will equally benefit Eqtec. I suspect it will happen sometime this week as we have had no indication it will not. If it stretches to end of August i am sure it will be fine. This cash will give a good level of breathing space as we await more France orders and other incoming orders. Gla

Little way to go back to 3p in interim once £2m landed and then 10p is very possible on France and Northfork. Still only a tiny £26m market cap at 10p and that is only net asset value. can easily see £50m once we get back on track for consistent traction demonstrated. We have been totally shafted by DP friends who have dumped all shares almost as soon as acquiring them. I hope the share price balloons before DP and team get options at these low values. If we can at least get back to £25m market cap then i dont mind options being awarded at this time but today it is too low and board should accept they taking options now is not appropriate.

I agree it makes sense somewhat as hard for a COO to be overseeing engineering staff from the UK. He was a great communicator and it appears he will stay on in some capacity and if we can keep him as a specislist contractor could be ideal. Would like to see next RNS to be Logik settlement and France deal signed. Now the overhang is gone we should trickle back up to 3p in the short-term, pre consolidation.

TK OTL in 4 weeks and then we should have have plenty of assets we can get secured lending against. Placings could be a thing of the past. Saudi does have costs but i think once the $370m funding package converts some of our expenditure not imcluded in the $95m sweat equity pledged for our 80% will find its way back. I think in 2023/2034 we spent £10m on TK and unless it is added into our equity investment we should see this as a loan on TK that we should recover. Plenty of options in hopefully less than 4 weeks before signoff of different parts come in. And we are still only valued £30m?? Crazy given just historic expenditure almost 3 times this amount and about to be crystalised.

It would be rude not to recover to that terribly low share price after consolidation. I thought 3p was bad enough but who could have imagined we would stoop to a market cap of £3m, similar to a small semi in central London :( and we have a serious company with sales and operations all over the world and half a dozen projects on the go with major partners and deals popping up everywhere. you need to second look at the company to understand how far we have come. DP is firmly to blame, alongside Babur but DP has now gotta focus on getting the company out of this mess before it affects sales and partnerships. 3p is not even touching the sides.

The 6m shares have been sitting around for months and took a long time to shift. Ask moved from 1.18 to 1.35 but never higher as i think it was the remnants of the 1.4p raise. Key is this is now gone and if DP can keep his hands in his pockets and not go looking for more petty change from these useless investors who simply pocket the fees and try and shift the shares fast we might actually get somewhere closer to fair value, at least 5x in my view and a lot more with France and North fork in the frame. £2m should give DP breathing space for 6 months or more so i hope the CFO takes a long holiday and DP is kept away from the confetti machine :)

Chocks are removed. Time for takeoff. Lets hope land deal completes by end of next week but no reason to expect it will not happen as delay was caused by retrospective planning, that has now been confirmed. Gla

Good to see the overhang finally cleared today. That 6m sell was holding everything up and almost 2.5% of the company. We have been treading water for so long and now i hope news next week on Logik and then other news prior to interims that will hopefully reset where the company trajectory is heading. A lot of rebuilding is needed both in shareholder sentiment but also sales completions which will start to take off now interest rates are falling and finance is becoming more readily available.

Our refinance is 24 month bullet so no financing costs for next 2 years. Operating costs are less as cost cuts only started to drop into last accounts. Cashflow is what matters and not profit this year. Logik unlocks some cashflow and really that is the game. DP has fixed finance outflows and cost cuts and we are expecting cashflow in. When France signs we have all cashflow we need and profitability but that needs to land in nexr few months alongside Northfork.

I am reading positive things from AGM. I suspect staff and all board are on the inside of all deals and probably understood importance of bad deals vs possible collapse in 2023 when tide went out and DP was caught with not a lot on. Bad decision of board to not have rainy day fund and cut costs far harder and faster. Only in 2024 was costs cut and salaries of board cut 25%. We could have skipped the friday night deals at the pub if DP had got on top of cashflow far sooner and why previous finance guy walked off as he was total rubbish. I saw his communication in a webinar and immediately saw he had limited scope. He should never have been employed. Time to fill boots before Logik comes in and then Northfork and then France.

This is big ticket, high capital cost R&D, low volume. Demand is only just taking off. France deal will be the turning point for sure but in meantime we can clock up smaller deals like Hawaii, Greece and Croatia. Interest rate reversal was the biggest issue here as economics changed. Liquid fuels for planes will also be huge as Europe is well behind and Eqtec offers fully green fuel and not grey. Yes DP has done a lot wrong but he has opportunity to do a lot right and biggest paycheck he will ever get is growing from £3m up to £250m. He and board will pocket £10m in this case and some investors who average down will walk away in profit. Dont get me wrong i lost a fair whack but i am moving back in on dips and averaging a lot less. all i see is delayed projects coming online where we have already sunk the investment, happy to keep on toppinb up and if DP does a wrong move in this position his board and staff will probably be ones to boot him out.

DP is watched by many, more so as a plc than any other setup. He cannot cross line of bad decisions into criminality. So far all i see is bad decisions and over optimism on partners that screwed Eqtec over. If you cant reset your clock and start agresh and look at £3m as new starting point. New tech always costs more and takes longer. Always has and always will. Italy is live and northfork is last commissioning steps. Pipeline is more likely as interest rates fall and govts crack down on incinerators. Labour govt will kickstart UK projects and France is firing on a cylinders, pending £15m financing from idex (massive utility player) who for them this is nothing.

As Buffett once said "to be fearful when others are greedy and to be greedy only when others are fearful"

I am an investor. I think you need to reset the risk/reward profile and forget the past as i understand we have all lost a lot of money. my research leads me to believe £3m is not a fair market valuation for Eqtec. All the projects we own and sales incoming and the market we are in are great. Italy is worth £3m and Northfork when live and we get back our valuation in the project is $5-$10m. Logik are about to settle for £2m cash. There is so much value in this company as £55m was not all spent on wages but spent frivilously on many projects but value is still in the business, not to mention our global IP for gassification that has been tested in the US and we won. We are a clear takeover target. Just feel everyone needs to own their investments and they had 3 years of decline to sell up. sadly a lot of investors stuck through it. one option for those is to buy now and lower average so that when Eqtec storms past 10p they will be well in profit again. gla

As long as DP has support of major shareholders i would be surprised if enough pis voted against his re-election. He has most to gain from growing the company as his shareholding value dropped substantially. Keeping staff is also very hard if the options are not worth anything and signing sales and partnerships are not easy if they are unsure about the company. I think you need to start to back the company as today is probably the lowest price entry but i do think that the board or someone attending the AGM should share any news updates. Once Logik settles and perhaps another project financing completed the shareprice will be 5x today and the board might be able to come out of their shell and explain to shareholders how they plan to recover Eqtec back to those heady days when we were promised a pipeline of pipelines close to £800m in sales back in the day. Where has that gone you might ask as that was probably one of DPs finest moments and it is still possible if they get this right. The scale of sales are incredible once Italy and Northfork are out of the way. Imagine every incinerator in the Western Europe and the US must be refitted within 10 years, which is likely the case given they are spewing out pollution and generating very limited energy. The taxation on these dinosaurs of waste removal will be collossal.

A lot of decisions that turned out bad and bad timings with both interest rates and global downturn. However we have weathered the storm and come out the other side. In reality we are on a much better place than over 3 years at the peak. However it will take a lot from DP to rebuild his credibility but ultimately hitting profitability next year and a triple result of Logik, France and Northfork would go a long way.

I have been topping up too. Rude not to at these levels. Plenty of potential from this global leader in gassification and valued at £3m market cap only. Should be at least £30m as a base case but need to wait for the updated news to start the climb. We have been valued closer to £250m so for me the value gap is far too large to not take advantage. Hopefully Logik deal is incoming.

I still think that approval of share issue is mostly to ensure that if worst case scenario happens they have leeway to get out of trouble at current share price. It must assume no Logik settlement, no other loan options,, no France deal, no Northfork or Italy loan repayment or any further business coming in. It does not mean they will use it and if they did Eqtec staff and board will be impacted along with every other shareholder. Surely even Altair and pitcole might oppose unless they were being lined up but Altair has been in most placings all the way down so surely they are in the red. I see it as an insurance policy. However would be nice for DP to explain his thinking. If any of the above comes in will mean we will be increasingly able to stand on their own feet while revenues grow. Next week could be start of real turnaround.

We will find out soon as AGM is 6th August. Its possible Logik might get settled very shortly as it looks it only required the retro planning to be resolved. If anyone is at AGM ask about Northfork update and if any of the £2.5m from Italy MDC will repay any of our loan or spent on eqtec equipment and France sign off due H2. While i agree but back is unlikely there is a lot of logic to do so when we trade massively below net assets (excluding north fork and all other investments at book cost) We sold shares from 1.4p up to 6p not so long ago. If Eqtec buy back just 10% for £350k we can make a smart trade and soak up any overhang. Anyone going to AGM must robustly confront funding and to get from horses mouth the 530m shares are just a back up. Companies do not normally do any placings when we are 15% of just our net assets. you are literally giving the company away. The sooner Logik settles the better and every deal shod give us breathing room to rebuild.buy when other are fearful come to mind here.