Member Info for WongaFC

Apologies if already posted and not anything new, but a wee mention for QFI can't do any harm surely????

https://www.proactiveinvestors.co.uk/companies/news/937749/tomco-energy-says-mining-operation-is-underway-for-posp-project-937749.html

I may be wide of the mark here but my understanding is that Bergen gave QFI £2m which they have the option to call back in QFI shares at an already agreed 1.80p a pop. They previously converted half of this debt for equity and today's RNS tells us they are now converting a further quarter, (£500,000), leaving £500,000 to convert at a later date.

This does not provide additional capital for the company, although the debt position will be reduced. Happy to be corrected though????

Thanks for the input LTGTR,
onwards and upwards....

I am finding the current price rise quite reassuring as it has been steady for the best part of a month, rather than a rapid spike on the back of a news update. This upward movement could be simply due to a greater demand for buys than sells, although it looks like someone decided "I'm out" yesterday with a sale of around 1.8m shares for around £43k. Strange that this trade apparently took place at 11.48 but was not listed until after market closure??? But nothing now surprises me re. AIM.

Hopefully the "Frankenstein Fuel" story will end up being a game-changer for QFI, although the Hellenic Shipping site (linked to below) also contains an article suggesting sales of VLSFO will increase this year and I could not see any reference to the bad news highlighted by Forbes.

As ever, time will tell and no doubt, continued patience will be required....

As the year draws to a close, we can finally say good riddance to 2020. Let's hope 2021 brings good health, happiness and prosperity to all LTIs and their families. Come on QFI BoD, make 2021 a year to remember and repay our faith in MSAR by landing the first (hopefully of many) elusive contract.

All the best everyone!

Correction
1400,
Res 6 was to allow the company to REMOVE pre-emption rights,

1400,
Res 6 was to allow the company to pre-emption rights, which would basically allow them to raise capital via new shares issue, without having to offer the same deal to existing shareholders. Quite rightly this was voted down by around 77%. I suppose it serves the BoD right for having a miniscule holding between them.

Future share issues can be made but will have to be offered to existing shareholders first, hence no super-sweet deals to Bergen etc. unless of course they call an EGM with a view to having res 6 pre-emption rights removed again

Hi QuantumStar,

QFI do have a product, it's called MSAR but they do not have vast quantities of it available to the spectrum of potential users. MSAR is currently being trialed in Morocco, where the initial trial results have been positive. If down the line the end user is happy to switch to MSAR for their needs, then Quadrise will need to formally agree a bulk production strategy to supply, possibly at the Cespa site, which has successfully produced MSAR in the past.

Indigo,
"with the share price down around 10%"

"You can't be serious with the idiocy of these posts. I mean you were posting last week which is sure proof you weren't actually born yesterday so I really don't know what sort of object you hit your head on. Stay safe."

I'm sorry, but a potentially huge story regarding fuel supply/shipping breaks, which is intrinsically linked to the business of Quadrise/MSAR and the share (bid) price, which has been relatively stable at around 2.05p for days, suddenly drops to 1.80p!

Not sure if you did arithmetic at school but that equates to around a 10% drop. Whether the two are linked or not is anyone's guess but a bit of a coincidence too far for me.

And, talking about the idiocy of posts;

"Thank you DoN. Is the LONO trial the same thing as we had with Maersk (sans buoy)"

Duh!!!!

Oh and by the way, if you're going to be pretentious and include French in your posts, at least be consistent and use the French word for buoy, (bouee) with an acute over the first "e".

Pl0nker!

"There is no MSAR to sell. We need a partner to make it

How many times . . ."

Well there's no one going to make it until there's someone to buy it!

How many times.....

looks like the initial reaction is to "tar" MSAR with the same brush as VLSFO with the share price down around 10%.
However in the long run it is surely good news for QFI and if the BOD can't sell their MSAR against this backdrop, they need to give up!!!

I still believe Morocco will be the first project to proceed to a commercial contract. Seem to be much farther down the line there and with a client/end user already part of the progressing trials.

You can normally work out if buys or sells from trade price, however regardless of buy or sell, not one trade below 2p, so why the 1.95p bid price listing? Unless you're suggesting every trade today has been a buy at 2p or above??? Hardly likely....

The bid price has been 1.95p for most of today, (briefly went to 2p), yet there has not been one sell trade below 2p. This AIM really is a wild west town full of cowboys!

"I have a company and I certainly don't assess the pros and cons of any new product. "

Fine, but if the product you have been using is now illegal, financially viable or incompatible due to international regulation changes, the status quo is not really an option. Furthermore, any large company not embracing their ESG responsibilities, is unlikely to do well in the years to come???

What QFI need are "Disruptors" in the boardroom. Successful companies normally change their senior executives regularly and reward these individuals well for bringing in new ideas, proactive strategies and fine tuning of staff/operations where required. They are paid well as their tenure is usually around 4-5 years max, before they are replaced with more modern thinkers, with frsh ideas.

Sit the same people round a boardroom table for too long and they will run out of ideas. Senior management teams need to be constantly evolving, not dinosaurs.

We have a disruptive product and disruptive technology, but our BOD are about as disruptive as a basket of sleeping puppies.

Tidetime
"The chicken and the egg equation has to be solved."

I've ordered both from Amazon, I'll let you know!!!

Tidetime
"The chicken and the egg equation has to be solved."

I've ordered both from amazon.....I'll let you know!

Is the Petroteq announcement a separate development to Greenfield, (Valkor/Tomco), or is Greenfield the "mining contractor" referred to in the piece?

Starting a single shift while simultaneously training additional staff to increase to two shifts in future seems like a sensible approach to me, given the technology is relatively new in the oil sands recovery.

Pop the caps lock off old boy(porche)!