Member Info for WongaFC

I think you are a decimal point out there, MacF1.

I could buy 875,000 shares in this offer and if I am able to sell @ 1.20p and buy back @ 1.25p, it would cost me a £437.50 loss plus dealing costs. Why should I suffer this loss when the majority of senior management won't back the offer with their own cash??

"Why the hell haven't QED had some of this money?"

Great question Kolonik, I have no idea. Perhaps the application forms were too arduous for the hard-working team? Or maybe it's just easier to go back to us for more cash?

There are now numerous investment funds specifically targeting companies with strong ESG/Ethical credentials for investment. I spoke with an ethical fund manager around nine months ago and asked her if a company like Quadrise would fall within her remit. She said she had never heard of us....

Again, something a well-run company would be all over, seeking grants, investment or interest free loans from the many many millions of pounds being thrown at the de-carbonisation sector.

I have no need to buy the offer as I already have more than enough shares, which I plan to sell down when/if the SP reaches a price I deem high enough. I hope the offer is fully subscribed and the company succeeds big time BUT I reserve the right to speak my mind as does our resident multi-persona lickspittle.

If the management are underperforming in my eyes, I will say so. They need to be held to account and really understand shareholder frustration, rather than just paying lip-service to it. If they turn things around and make a success of QED, I will happily sing their praises too. However, I have my doubts regarding the management of the company and believe a buy-out by a slicker, more businesslike operation, could end up a better option??

DoN, everything you detail simply underlines my point, "struggling"

Reading between the lines, I think we are really struggling to find a fuel supplier willing to make our fuels. I also believe they, (BoD) are pinning too much of their hopes on Utah, probably to avoid the need for a refiner and have ready made fuel for MSC. Based on what they told us last year, the contract to supply Moroccan client should have been done and dusted and the LONO should have been completing soon.

They're getting much worse, (not better) at meeting planned timelines and to me, quite flippantly now push timescales back 6 months. They have proved themselves time and time again to be not up to the job and they really should actively try to find a buyer for the company who can accelerate to commerciality. If this performance continues for the next six months, next year could be the beginning of the end, rather than the promised land we've been waiting for for years.

The way I see it Vince, they (should) have enough cash to get to end October. If, as stated, the placing has been arranged, then that should keep the lights on until end Feb 2024. Surely they can get something over the line by then? If so, further fund raising should be much easier, hopefully at better SP. Maybe those who have taken this placing will come back to the well if good progress is made? There is always the other potential outcome, that no significant progress is made in the next 6 months, at which time, (like previous IIs) they may have left the building and the SP could be half of what it is now....

Kitkateat "Is he really earning 400k? Its an AIM company a ceo wouldnt be paid as high as that".

The last I read was £385,140, why I said almost. Yes it's an AIM company without a bean of income, spending £240k PER MONTH!, the majority of which will be salaries. This figure does not include project costs. No wonder they are keen to keep the gravy train on the tracks rather than look for a potential buyer who may have the financial clout to take the company to commercialisation

From ****link

Site Licence Agreement which is conditional on, inter alia, receipt by Valkor of drilling and underground injection permits for the Primary Project Site from the Utah Board of Oil, Gas and Mining at a hearing scheduled for August 2023, and the receipt by Valkor of project financing in an amount of at least US$15 million for the Primary Project Site. Quadrise has granted Valkor the exclusive right and licence to use its technology at the Primary Project Site to produce MSAR® and bioMSAR™ and to market the fuel on a non-exclusive basis in Utah. In exchange, Valkor will pay Quadrise US$1.5 million, with US$1.0 million payable on satisfaction of the conditions set out above and a further US$0.5 million on the date on which a Quadrise MSAR® Manufacturing Unit ("MMU") is delivered to the Primary Project Site.

i have tried to keep a handle on the valkor/utah situation but was not aware the financing is in place waiting on the granting of licences, as is suggested/conferred on here. i believe the agreement between qed and valkor is dependent on both, (licences and $15m financing) neither of which are certain.

https://*********************/newsfeed/article/quadrise-plc-valkor-site-license-supply-agreement-1885748

be good if it comes off though........

Fool me once, shame on you. Fool me twice shame on me. Fool me again? Not for me, so to answer your question Toby, no I will not be buying any more. I already have 20% more than the BoD combined and have given them all the support I can over many many years. Hopefully others will take up the slack, though I doubt they will get the full £2.2m from long-suffering shareholders.

Shell, or anyone else for that matter could not buy QED for £17m as they would have to offer many multiples of the SP to convince a majority to sell and buying on the open market would cause the SP to rocket. They can have mine for 10p;-) as a start though.

I'll wager a £1 to a 1p there will be no resumption of Morocco trial in July, there will be no income from Utah this year and the MSC trial will not have commenced by start of Q2 2024.

Has Jason got 10 kids at Harrow/Cambridge? Trying to say his lack of available capital is the reason he is not buying any further shares while earning close to £400k per annum!! While I don't like being personal, their "give us your money" pitch was pathetic, especially as it is likely being pitched at people far less well-off than them, (BoD).

As I commented on the other day, I believe the placing of £1.1m is the maximum they could raise and a reflection of investors lack of belief in our BoD. The market may be "horrible" but what is there should be tilted in ESG-friendly investment. Poor, just very poor.

A bit flippant with the answer to the question about selling the technology too. Obviously as that would mean an end to their gravy train and punish their lack of investment in the company.

Excuse no. 173 - Panama drought.

What next?

Well, based on that regurgitated drivel, I now fully expect the SP to fall below 1p in the coming months.

I expect the usual re-iteration of project "progress" on Wednesday with the odd non-RNS'able morsel of corporate speak with a positive spin on the future, (jam tomorrow again!).

The more cynical, (realists?) among us will see straight through it but as ever the usual company apologists on here will do their utmost to spin no news/progress into a positive update.

As ever, I hope to be pleasantly surprised, though seldom am.

I would guess a lot of the recent share trading activity may be down to LTSHs wanting to support the raise but unwilling to increase holding, so selling with a view to replacing via the offer. Buyers could be those who previously bought in at low 1-1.2p prices and sold on recent rises, looking to make a quick profit again, although I don't expect the price to go much above 1.25p until the placing/offer completed.

Groundhog Day?

Funding Update

Further to the Company's announcement of 23 July 2019, Quadrise provides the following update in relation to progress made in seeking equity or equity-linked funding.

The Company continues to make good progress in this regard and confirms that, following receipt of several proposals, it is currently in advanced discussions with a provider of funding.

The Board expects to be in a position to confirm the Company's funding plans, which would include an intention to provide existing shareholders with an opportunity to participate in an issue of new ordinary shares in the Company by way of an open offer, prior to the end of August 2019. The Board expects that funding currently under discussion will be secured and that proceeds, excluding any proceeds from the intended open offer, will as a minimum enable the Company to continue its business development activities and operations through to mid-2020 whilst the Company seeks to capitalise on its recent progress and to deliver commercial projects.

....................................................................................................................................

1 March 2021

Quadrise Fuels International plc

("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")

Proposed Placing of Ordinary Shares and Open Offer;

Quadrise Fuels International, the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, which are low-cost, cleaner alternatives to heavy fuel oil, today announces its intention to conduct a placing of new ordinary shares of 1 pence each in the Company ("Ordinary Shares") (the "Placing Shares") at a price of 2.7 pence per Placing Share to institutional and other investors to raise gross proceeds of £6.0 million (the "Placing").

In addition, and in recognition of the continuing support from long-term shareholders, the Company also announces that it will be providing existing Qualifying Shareholders with the opportunity to participate in an open offer of new Ordinary Shares in the Company at the Placing Price to raise additional gross proceeds of up to approximately £1.0 million (the "Open Offer"). The Open Offer will be launched on conclusion of the Placing. The Placing Shares are not subject to clawback and will not be part of the Open Offer.

The net proceeds of the Placing, together with the Company's existing cash resources, are expected to provide the Company with the funds required to progress the Company's current trial programmes through to commercial revenues in order to achieve sustained income and positive cashflows.

.........................................................................................................................

It really boils my blood when I think of the huge sums of money taken out of the firm by certain individuals, always promising jam tomorrow, while failing to buy into the company themselves. I have more QED shares than the whol

"and, assuming the Open Offer is fully subscribed, the Company would expect to have sufficient funding to take the Company, SHOULD ACTIVE PROJECT MILESTONES BE DELIVERED ON CURRENTLY ANTICIPATED TIMELINES, through to the generation of profit and positive cashflows."

There's they key phrase highlighted in my caps. They could have added "something we have failed to do throughout our entire existence!"

"I must say it does appear a bit of a risk leaving the open offer as the lion share of the fund raise"

I don't believe they have any choice Barking. I'm pretty sure if they could have raised £3m+ via a placing it would have happened. They have probably been told they will be lucky to raise £1m from the IIs and they are dressing it up as being charitable to the existing LTSHs.

Sadly, I no longer believe a word coming from the lips of our management team.

"Maybe they are genuinely doing it for the shareholders"

Well that's the funniest one I've heard yet! Here's a better idea "for the shareholders",

Given the ridiculous cash burn rate for a pre-commercial company, the BoD, along with relevant key employees, have agreed that all salaries in excess of £50,000 per annum will be deferred until the company is in profit and has the means to pay the deferred amounts via surplus income. This will reduce the need for the begging bowl to be trotted out in future and hopefully encourage future investment. We feel it is time the company employees put their shoulders to the wheel, instead of the long-suffering shareholders.

We can but dream......

The last II raise was for £6m and we have seen how that worked out. A difficult sell if you ask me and I think the offer will be well short of fully subscribed. They know the LTSH are a soft touch due to the emotional investment and determination to see the very, very long wait pay off!

Their gravy train is grinding to a halt and soon to hit the buffers. They need to turn things around more quickly than anticipated, which given their record is very unlikely.