Member Info for Simms45

Its possible we get a RNs later today confirming completion of land sale as it will happen today, although Eqtec might just wait until monday when money received. Its £2m so almost as much as todays market cap!

Buried in small print

“ The Company has received confirmation from Logik that the Land is currently in the process of being sold and that the proposed purchaser is funded by a global investment company. Further, the Company has been informed that all elements of the transaction have now been agreed and the funder is seeking final sign-off and confirmation at its internal committee meeting in the coming days.” Nice!

As expected they have kitchen sinked legacy projects but the list of future projects and achievements are impressive and should give investors a new base to work from. Net assets of £23m and some new engineering and equipment sales in California means we have multiple income streams incoming. Some decent operating cost cutting and reduction in losses so all heading in the right direction. Maybe Logik early next week or later today but would like Northfork hot commissioning announced.

I am hopeful tomorrow that while Eqtec draw a line under the past they also lay out and have some extra meat to backup the delivery of a serious turnaround. We have hints of this happening but Eqtec have been very quiet on commercials. What we want to see is an outlook showing real month on month growth in service fees and maintenance fees that can be relied upon long-term and would br nice to hear Eqtec are never going to fall back on vulture debt financing again as it killed us. If they could allude to a point of self sustainability or even profitability in 2025 then it might be possible to draw a line under the disastrous last 18 months. Many have lost big here and have not recovered and 98% down from peak is not a nice place to be for some. We are not out of the woods as who knows what Pitcole and Altair plan but Riverfort are gone. I am still wary but i have been averaging down as at £3m market cap for Eqtec i just feel that with delivery of Northfork, France and Logik there is serious value here and importantly cashflow for next 12 months to recover. If DP falls back into trap of desperate placings then he should go immediately. In reality we do not know how close to wind we have sailed and if all these disastrous placings have been only way to keep on lights but that is also something Eqtec should have managed and planned for and found secured lending much sooner. I hope Eqtec lean towards secured lending going forward if debt is needed. I hope Idex and €15m will come off and with some management of cashflow this can keep us in cashflow for a considerable period. Lets see how those results look in the morning as i really hope that the tone from Jeff is going to be backed up on reality.

Whats interesting today is on small volume the share is moving. Last week when 10-20m shares changed hands shareprice barely budged and we now know it was Riverfort exiting. The same types of volumes would take us a long way ahead. Could be a decent annual report tomorrow if we also get Logik confirmed to add on top.

Certainly the recent momentum a week ago was probably snuffed out when Riverfort exited their whole position. Personally i am glad they are out of the picture as they were definitely not sticking around. This is not their business to hold equity. it was just a way to get the loan paid off indirectly. You do have to wonder what Pitcole and Altair will do. Both are fortunately well under water on their conversion into equity but again we have no idea what financial strains they have and could have to exit in a rush. Key now is for shares to find homes with those investors not looking to exit until we at least hit a £50m market cap as with some momentum on sales and delivery this seems very achievable but if we get any more forced sellers its pretty hard to not think that someone will hoover up a 10-20% stake for almost nothing.

I think JM was the reason for the firing the starting gun on the sale of the asset in the first place as i think he is as keen as anyone to close this chapter. He has been involved for probably 12 years and really nothing has come of the mine. He will be lucky to get his money back. The only way JM could have realistically exited with a huge profit was to build the mine and live off the cashflow and dividends and sell the mine operating for around £300m+ but he chose to not take the more obvious route to making good on his investment. In fact if he had pulled the trigger on building the mine we would be operating now and our share price and market cap would be considerably higher. However this is all in hindsight as this sales process was triggered right after the US played with sanctions (since deemed petty) and in the throes of limited access to finance. i think the long period we have experienced is simply down to JM saving face as he started this process and wants to see $150m paid. I am sure he had offers for close to $100m before this even started and perhaps the likes of Calibre have decided to hold fire or perhaps they are the buyer. will we get the deal announced this month as it is dangerously close to summer. if it is going to happen it will probably happen soon. gla

Well anyone fresh today looking at all of the companies activities, revenue growth and strong asset backing and then look at market cap of £3m will clearly want to ask questions why. The main reason i can see retrospectively is the continous revolving door or venture debt over last 3 years who we now did not plan go hold and simply all exited the equity portion and pocketed the warrants and fees. Selling at a 20% loss was fine for them due to warrants and fees making up difference. This has dragged down pis into oblivion and all was done under DPs watch.

DP has only ever known bullish sentiment and when the tide turned he was well out of his depth. Pendulum is about to swing into momentum so DP more in his element and while a lot of investors lost everything given we are £3m and not £250m as we once were DP is just one person. investors will not forgive unless part of those buying at 1.17p and one day might see 10p with relative ease if even half of what is expected happens. So many long holders have long gone and new investors will see value.

Annual results due friday as Jeffrey said on linkedin. i guess hope is to announce £2m logik settlement but regardless i think we can be looking in the mirror at £3 market cap. £10m seems like starting orders and £50m once idex and northfork and several others show the transition. Gla

Great news one of our last venture debt vultures no longer hold any stock. 8% swept up by canny investors and depending on incoming news we should comfortably see 2-4p for starters. Eqte market cap is where it is because of all the terrible venture debt DP loaded us up in last few years. We have to hope Pitcole and Altair will hold although it looks investors made quick to grab Riverforts shares. Looking forward to transformational news from Northfork, Logik settlement and Idex to name just a few!

Italy is operating at the level required to secure a successful refinance as bank was satisfied with performance. There is a big clue how it is working :) however i do agree Eqtec should not spread themselves thin covering so many different feedstocks. They have perfected wood based gassification and many other feedstocks so they should focus on these are demand is huge. Simec today is 120% up and PHE up over last few months so profits on those will filter into Eqtec that arguably has the best prospects in the future, once DP is controlled from more friday night placings. We should see a re-rate back to 4p on back of news over coming months. Placings should be behind us for at least 12 months and hopefully if yhey do at a market cap of £50m+ as todays crazy £3m will be less than cash in bank once Logik settlement comes in together with recent placings and cashflow from operations. Once £15m IDEx cash drops we will be in rude cashflow that should transform the company,

Heading back upwards quietly but some update end of week could change everything. Something is happening in the background but would be nice to get confirmation on deal for AGM.

According to last RNS on logik settlement we know Logik have exchanged with buyer and they sold to a global investment company so its unlikely any issues. The long stop date for completion is 28 June 2024 so if the completion has not already happened it will by the 28th, unless a notice to complete is issued that might take this a week later or so. How soon we get our £2m i guess will depend on the wording of the agreement but presume the £2m will be held back at completion and paid over in full and final settlement. its possible completion has already occurred and we are awaiting the funds and the will RNS will be released at the point of receiving the cash. I think the chances of a global investment company willingly losing a a minimum 10%+ deposit + costs and walking away is very low and i am sure Eqtec will update at the end of the month given the long-stop date.

So as already said we have 5% of MNRG but could be 13% with conversion of the zero coupon.so we own around £225k today but could be £500k. Why did management do a costly placing when we could have simply triggered the zero coupon to get 13% and then sell it in thr market for around £500k? Crazy management as this is simply in the drawer probably forgotten about.

"As a result, Eqtec said its holding in MNRG had decreased to 5.02% of the issued voting share capital, from a previous 13.31%.

In consideration, MNRG had subsequently issued £0.1m of zero-coupon, unsecured convertible loan notes to Eqtec, giving it the right to convert the notes in whole or in part to MNRG shares.

“The purpose of the convertible loan notes is to allow the company to re-establish its equity position in MNRG at approximately the same level that existed prior to discharge of its GIS liability as guarantor on behalf of MNRG,” the board explained in its statement.

I seem to remember that we have an option to reinstate our stake at a low cost but every penny counts as their Uranium mine that was frozen is now legally able to be developed so could soon be sold off to the right buyer. Next week lets hope we get some updates.

Dont we also also hold a 10% stake in mnrg of something? That is taking off today and now has higher market cap than Eqtec. Next week could be big news on Logik and maybe something else as there is a lot on the go and not just DP collecting his wage packet lol :)

And historically i have made some good investments following on from a forced major shareholder selling. If you remember Wood group there were dozens of AIM stocks that tanked 90% because his forced investments into an illiquid market killed the shareprice. The companies affected had totally unhinged market caps. I see that with Eqtec. We know recent major shareholders have been dumping into an illiquid market and pis rightly waiting it out and who is to say we do not drop further if recent placing is dumped but given they cant want to lose too much on their investment and do not have warrants i am less than sure. As soon as Logik settles this will take off. As to Idex we sold the land to them for 0 because the £15m contract was binding so that is happening. Otherwise i am sure Idex would have had to pay a few million. We also do not know what will happen after 30th June when tie in ends but it could also be a point investors decide to move in. eqtec has 10x before and it can easily do it again, if just to get back to net asset value, which i would argue will balloon once northfork goes live and we come out of chapter11. Just saying there is risk but for very little averaging down at this point investors could recover their losses if we rise back to £10-£30m in short-term.

While i agree on DP but he is not alone and the worst crisis is behind the company. i am looking with a fresh perspective and staring at the £3m market cap. I just hope Yoel and David Le Saint and his employees are watching as they have had their shareholdings and options decimated and im surprised they stomached the friday night shenanigans. When you read the final results from 2023 you get a big sense of just how much value is in the company and the build up of knowledge. Some people back in the day were investing £50k in Eqtec. If they did that today they would secure 2% of the company. The AGM shareholders can hold DP to account on this recent placing and INSP engine connected order and question him on all manner of topics pertinent to helping shareholders get a sense of where next. I am mystified that a fair amount of the £850k placing is looking for a new home so pis could pickup a decent chunk of the company and have some say in the future. Plenty of risk but company has a lot of tentacles in many projects and revenue steadily rising. I sense a big turnaround once Logik settlement appears and £3m will not be its future market cap for long. Verde only last month was investing at 4p but pulled out as shareprice collapsed.

Recent placing with no warrants was at 1.4p. its now possible to get it at 15% discount to that today as presumably some of that placing is finding its way into the market. with £850k received from placing, new secured credit replacing the venture debt guys and £2m settlement from Logik due any day, regardless of all the stakes we have in Italy and signed deals with Idex, Hawaii, Greece, Croatia etc etc we are worth £3m. something is not quite right. PIs are still the largest shareholder and we just need to reign in DP and get our cost base down. There is no reason we are not worth £30m today but for the lack of confidence in DP who has historically destroyed shareholder confidence. Can he turn that around over the coming months.