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Verde & Catalyst strategic investors…. PMSL!!
I don't think Verde will ever become an investor. A quick look at a very recent court case in the US tells you all you need to know. Even Eqtec signed off the last RNS with a warning. Shambolic.
If PI’s can find this info on Verde with a quick Google search then it’s obvious Dilution Dave and co must have known of this history and didn’t care, “any cash at any cost” is Palumbo’s attitude to raising funds and this is w he what sees the share price at these levels.
Smirking Palumbo and Lies all the time Linden have to go, along with half the staff that haven’t covered their own wage bill in three years!
Dofmeister, C909, Simms, HH77, BeginnersLuck et al:
Is there a hope in hell of attempting a class action against the directors personally (not the company itself) for criminal negligence/misleading presentations/insider trading?
It was intriguing to read that Norfolk County Council Pension Fund successfully won a huge settlement from Apple for what may have been far less egregious behaviour:
https://www.europeanpensions.net/ep/Norfolk-Pension-Fund-secures-380m-in-class-action-against-Apple.php
I'm ashamed to admit how much I've lost - a life changing amount, in good faith on the basis of their statements.
Certainly no easy way to do so. First you would have to map out every RNS and webinar and comment from DP and then track it against what happened and probably prove any way DP and certain investors might have been colluding or with DPS knowledge. As i understand an example might be early Altair dump of shares that was hidden from pis and we were not aware what was behind the decline until we got an RNS. Was DP in knowledge of this and pumping the stock to enable Altair to extract cash for next placing? Apple was a big ticket item and rewards were high for investors to pursue. Eqtec was pumping like crazy and provided huge revenue targets that were totally for the Fairies. Proving he was not just a gung ho optimist and not doing matters to benefit himself is something else. Obviously a 98% fall from the top is a catastrophe and i am sure DP was never planning it as all his staff and hid ego will be knocked. This verde deal and the recent Catalyse dump causing more downward pressure on the shareprice is not helping. I have made more investments and these are now underwater because i bought just as Catalyse were dumping in the background. Again if i had known i would have waited. I am sure DP was aware however but kept to himself. i do sense a big turnaround because we do actually have contracts in play and plenty of sunk capital. I plan to invest more on back of some news but Northfork is very soon. I think Eqtec have not released until we know our stake in company so technically and in accounts we wrote off the whole investment. While frustrated and down i have invested and my target breakeven is a lot lower and i hope easily achieved on back of real news. The recent Logik RNS sounded good but thinking it through i suspect we will not see that cash as surely if the deal was going through end of April it would all be contractually drawn up. Also we still lost a chunk of money as the £1.7m is less than what we invested.
Realistically to only way to penalise the idiots is to vote against their re-election as a director, one of them must be due for reelection this year, I think it’s probably Dilution Dave and Yoel that are due for rotation election this year.
With the II’s dumped and Catalyst selling down, as long as verde don’t get their bargain bucket shares by the time the AGM is due in June I think we have a good chance of blocking Palumbo from being reelected as a director.
Everyone needs to vote and clearly show him we are far from happy with his shenanigans
Simms45, Computer909 - thank you both for your candid replies.
I've come to the conclusion that Palumbo is incompetent.
Is he though
I mean he is getting I’d say 90% too much yet there is nothing that can be done
So some may say he is pretty clever really
I’d love to be getting paid as much as him to do such a bad job
"i mean he is getting i’d say 90% too much yet there is nothing that can be done"
why do you think he has a smirk on his face every time we see his face?
realistically it's his ego that is catastrophic for eqt, he failed to stop investing in doomed projects with shareholder cash, he has failed to managed the cash he was given to pay the bills, and he has failed to size the workforce based on the work the company has on the table.
if we continue to spend cash on 27 high paid staff whilst not generating any revenue how on earth does he expect to pay the bills?, his answer is always sell some more equity, unfortunately for us all that vein is seriously running dry, pi's gave him £1.5k in the last open offer, hence he has touted his useless **** around the likes of verde and catalyst who don't give two thoughts to the health of the company as long as they make the pound of flesh.
verde won't happen now we all know that based on their history, so if we are in a position to palumbo must bin them off to gain any kind of credibility, another delay accepted would further signal desperation, and verde knows that unfortunately and are playing the idiot like a fish on a line.
And of course his and JVL’s explanation about those ‘engineers’ - that if you want the best, you have to pay for it. The best, really?, the same ones that still can’t get Northfork fired up and all the others over the line in any time frame whatsoever and who’ve only generated a pittance rather than power.
I would love to know who’d snap this BoD up and pay better if they were to go and work elsewhere.
Yet another fantastic week for the BOD and their loanshark "strategic investors " keeping this POS afloat while with Palumbo and JVDL pocketing €6k each up from €4k when they started awarded by their ex labour MP chairman buddy.
Palumbo was pumping out from the rafters he had a Rolls Royce car in the makings and we ended up with a clapped out broken down £50m+ sh 1tty Trabant .
Twas all about Altair and the lifestyle.
Is it safe to assume Altair are on a free run here with all the nods on the placings dumps and warrants?
Https://twitter.com/eqtec/status/1778709968042000729/photo/1
"Our cleantech gets ever cleaner!"
Yeh looks bloody too clean!, how about not sitting around polishing a turd, but actually putting some feedstock in those input conveyors, what an utter idiotic post, we don't want to see shine, we want to see dirty working equipment, not staff being paid to generate nothing again !
Everytime "Lies through his teeth Vander Linden" opens his gob, whether on LinkedIn, X or in person the share price drops by 5%.
Nobody believes a word you say Jeff, everyone looks at your posts and has to try and think what are you actually saying, what are you covering up?
You might find the BOD are that daft looking at what they have done
Maybe they are trying to get this down to a penny so they can claim thief 1p bonus lol
Nothing would surprise me with this lot
Any wonder Palumbo could walk into a better paid job with his track record.
EQT Market CAP £3.72m an all time low today.
But it's all the market and legacy issues fault init David.
I remain convinced this will delist in due course and end up in Altair/DP hands.
ETX a biotech I follow announced yesterday a raise with its major shareholder along with a delist from AIM at the same time; citing dire UK small cap markets and no risk appetite.
Read across here in my view. DP will blame the markets and get this for next to nothing along with interested parties.
They don't have the votes to delist at the moment (they require 75% carrying vote in order to force delisting)
They don't keep the registry upto date so it's difficult with all the shenanigans of off market trades to know just who owns what at the moment.
Lets wait for the expected update on all our projects. Its been incredibly quiet given a lot has been happening. We have the cashflow and limited debt so we are in a good place. If Logik is going to happen this month i hope the board can exit the Verde deal as its just unnecessary and who knows if they dont work like Catalyse and simply sell its stake and take a long leveraged position. Northfork was valued at $20m so if our stake is at least 25% we should get that $5m back on the balance sheet. To imagine Eqtec is worth just over £3m is mindblowing.
@Simms, Palumbo and Vander linden will screw up any update we get, they just can’t give straight answers if their lives depended on them.
Palumbo will be desperate to get the verde deal done because it will put another 20% of the equity in hands he can directly influence.
As with everything tweedle dumb and tweedle dee do news will be the last minute and ambiguous, leaving us wondering what the hell is going on once again.
Still don’t believe verde will happen, they are as dodgy as dodgy Dave our CEO, and clearly don’t have the funds to invest.
Roll on the AGM so we can vote Palumbo down as a director, his ego should take him away from the company altogether if that happens
C909
Regarding the 75% of votes to force a delisting that you mentioned earlier, if Eqtec keep issuing equity to DP’s preferred partners, these partners would surely hold 75% at some point in the near future. If keeping the valuation as low as possible, would this be to their financial advantage and pi’s disadvantage?
I think its highly unlikely but even if they did you would retain the same stake, albeit not have an easy way to sell it until Eqtec was acquired. Investors generally want liquidity as a precondition to investing and investors like Altair have already sold their investment and bought back in placings and like all investors under water, even with warrants. There has never been any mention of and the share price has largely been a consequence of DPs investors selling into a market that is weary that every investor seens to sell their stake, most tecrntly Catalyse. If and when this stops the pendulum will change. DP and staff are also invested. I certainly want to not see in next few weeks prior to NF that DP will award himself stock as he should be apologising profusely for his poor record, especially his “partners” who i think have all turned out to not strategic ot long-term but short termist. Altair are around but their selling in 2022 was a big part of the current mess and pis are wary, not knowing if any more big investors selling.
"DP and staff are also invested"
They haven't deemed it prudent to increase their holdings since the bloodbath caused by their partners investment strategy.
At the latest report i can find their holdings are:
YA: 2.1M
DP: 750K
JVL: 280K
IP: 72K
Apart from Yoel all of them put together hold less the £25K worth of stock, hence they don't really care what happens to the share price its all about cash for their salaries. The perfect storm of all their "strategic" investors selling at any cost has pushed us to the point of oblivion.
No number of LinkedIn reposts from the idiot JV Liar will arrest the issue, we need to see revenue growth and a commitment to not dilute any further.
@Almostdone, Yes DP continuing to issue equity to partners under his sphere of control would be a major issue with regards the 75% vote, the only good thing about them selling down constantly is they are not accumulating so the percentage he controls is not growing.