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A typical AIM gambling share .
Was not certain if I owned them on seeing 22% one day rise .
Found some on ( X ) only 30% deal size and showing down 24% .
Below note from 9th March 2021 , does not match the down 24% .
("Still have 230% there. And there “all free” so to speak already had 110% free from last last deal" )
"Blocked from ( D ) now but was once allowed ".
Might be buys there around 0.42p
17th March 2021 appears they went above 2p
Bought in ISA 3 times between late March 2021 & May 2021 around 1.85p & 1.6p
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These early notes on barc ( copied from ii ) looks like a primary bid offer 19th July 2020 when I must of first bought them .
"0.45p … Prior said he stayed clear of this “bargepole”
It closed early at 10.21pm …appears 12pm was original close time ( ADVFN ) at 11am day high 0.57p more then +25% on offer price .
Fell back to 0.48p on big Ft100 2% day fall back 2pm .
120% deal size .
Looks like 80% refund as scale back ?
Appears it was very volatile from start , Irish .
Looks like I had only failed orders only on ( D ) 29/9/20 to 1/10/20 at 0.42p .
Cheaper now even with the 22% one day rise @ 0.33p
Back down to 0.21p ( -24% ) after today's placing at 0.22p .
Warrants for half again at 0.33p .
In hindsight a chance to dump them 7 days back around that warrant price .
I see was given advise on shorting on another thread here on the 14th March 2023 couple of post of mine to be found there .
From today's RNS ( not a great time to be raising money with Markets tanking )
EQTEC plc (AIM: EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation today announces it has conditionally raised c. £3.5 million before expenses, by way of a placing (the "Placing"), via direct subscriptions with the Company by institutional and other investors (the "Placees") of units ("Units") at a price of 0.22 pence per Unit (the "Placing Price"). Each Unit comprises one new ordinary share of €0.001 each in the Company ( "Ordinary Share") and one half of one Ordinary Share purchase warrant ( "Warrant"). Each full Warrant is exercisable at 0.33 pence per new Ordinary Share.
0.55 today after one day 24% fall.
Easy to get the decimal point wrong here.
0.055 today , after one day 24% fall.
Spread over 9%
When I last looked in March 6 months ago the price was 0.21 .
This would have to double and double again just to get back to this March level.
Rns 7am 0.065p today , 16% spread 13% gain lol.
Aim not for Pis.
Not sure what is going on here showing up 9,900.00% to 3p.
Consolidation
20th November 2023 news
Eqtec PLC - thermochemical conversion technology and engineering company - Announces proposed financial restructuring to enable the transition to revenue-led growth and regain momentum with execution of its business strategy. Alongside proposals to raise finds, plans annual cost savings of more than GBP1.5 million until revenue and cash flow are sufficient to support a return to growth and accommodation of a larger portfolio of projects. Further, seeks to recover GBP5 million in outstanding monies. In addition, certain investors agree to provide up to GBP3 million in financing with an initial advance of GBP950,000. Loan agreement worth GBP10 million with YA-RF Lenders in March 2022, which has an outstanding balance of around GBP4.5 million, will be cancelled and replaced with a new GBP10 million secured loan facility. Proposes extraordinary general meeting on December 18 to seek approval for measures from shareholders.
Whats frustrating is Eqtec might well have known the banks refinance as it was doing a 125% premium share deal with Altair and Pitcole. Therefore potentially a large part of the placing was not necessary as what seems to happen everytime is Altair sell billions (now millions) of share and we carry on falling into the cracks. We just need to know Altair and Pitcole or whoever else just got a load of shares they are selling for working capital will stop. Board should be investigated for their close relation with Altair and what is discussed behind closed doors as Altair have been a major factor in the almost 99% share price collapse from their highs of 3p or £3 in todays money after the billions of shares they sold down from over 1p down to .03p. Technology clearly has huge potential but what can you do if Altair and board are just a little too close.
Wow one of my AIM ( wish I had stayed well clear of any off those listed ) shares up 70% today on RNS .
Found these notes ( T )
Nice answer from "Crocqman " lse re shorts and small caps.
Have in ( X ) and ( WI )
Primary bid got me involved ( X ) might be all "free"
apparently buys and sells there ( but shows -24% )
( Wi ) big loser .
The chart shows 3 years ago price 272p will need many good days like this over next few years .
That was nowhere near all time high .
Yes … when you say three years ago it was a lot higher. Before yesterdays rise we were about 1/100 th of the price over the three or four year peak.
We are also 15 months past the presentation where the board members all looked into camera to say … all good, we are there now … great news flow starting on a regular basis.
Since … well … let down after let down. WTF they think they are doing right ? other than keeping their noses in the trough, taking money while producing abject failure.
Embarrassing… really poor from management.lets hope the technology is good enough to head north from hear despite their involvement and lack of tangible results.
Palumbo has destroyed this company in the last 18 months deliberately I,m assuming as he is to intelligent for it to be just mismanagement.
Having £5 m- £10m contingency funds set aside is just good basic responsibile economics to be expected at that point from a competent CEO.
Thus the disaster that unfolded was his making having been so reckless becoming ever more desperate for funding diluting shareholders to oblivion .
Since that webinar 18months ago Palumbo has collapsed the shareprice from -95% yes 80p to 4p post consolidation price.
Unfortunately being Altairs plant palumbo is unsackable.
Whilst the CompactGTL JV announcement yesterday may now give the Phd engineers in EQT something to do with their days, does this mean EQT will be looking to develop a new GTL site as a MDC, will this be italy/Croatia/North Fork version 2 ? will the idiot Palumbo be forced into massive investments into this plant the company can't afford, will this be another 5 year pipe dream that just drains cash and ends up a writedown? How does this fit into the great "pivot" strategy?
Palumbo and JV Liar still haven't learnt the concept of consolidation, they have brought the company to the brink of collapse with their mismanagement, are they embarking on round 2?
I thought the "Strategy" was now to partner with established well funded partners not some minnow that has failed to commercialise its product for over 10 years?
Unlikely any funder will stump up £60M for an unproven platform without the supplying companies making major commitments themselves, and where does EQT get any cash to make such commitment?
Yesterday's news from Italy was great on the face of it but that plant is still not wiping its own face regarding running costs and the interest on the loan will need to be paid.
Interested to wait now for the full year results, surely if they can't meet even the adjusted figures the BoD must be shaken up with at least Palumbo getting the chop, JV Liar is just a liability now, everyone sees him for what he is, just a plain old bulls hitter!
Pipeline of pipelines is all well and good, but eventually something has to come out of the end of the pipe that will pay bills
Normal service returns...
CompactGTL are a serious company, unlike the disastrous partners with Logic etc. My assumption is that development was already happening at the university and arguably this tech can only come to fruition with such a partner so i do not see Eqtec investing much, over and above it was already doing. I dont expect much from it but positions Eqtec in this market and maybe BA or someone else in desperation will fund the project as airlines and throwing money all over the space currently. The news on debt refinance means placement is pushed back for a considerable time but it also proves that probably the last deal with Pitcole and Altair might not have been need as this is barely a month on. At least more of what they say is happening, which has not always been the case. We need to see this back to 50p or in old money .5p to even recover its position for many investors. With a good 12 months we might recover a good deal of the lost market cap as North Fork is imminent and Italy is operating. Slowly slowly.
CompactGTL have more debt and less revenue than even EQTEC
https://find-and-update.company-information.service.gov.uk/company/05808040/filing-history
This partnership in no way aligns with the criteria we are led to believe the BoD apply to new partnerships under the great "pivot" strategy
"The news on debt refinance means placement is pushed back for a considerable time but it also proves that probably the last deal with Pitcole and Altair might not have been need as this is barely a month on"
We don't know how much of the £2.6M loan EQT made to italy will be repaid as part of this "refinancing", Palumbo decided to exclude that little detail from the announcement !. Their are a number of other loanees that want their piece of the pie as well. MetalNRG have already stated their desire to bail on their investment. It's likely that any shareholder loans from EQT to the Italia MDC would have been matched by Quainstone Limited (if not greater as their initial holding which was based on the establishment loans was greater), so we can assume EQT will get at most 50% of the proportion allocated to payback, whatever that amount turns out to be.
We already know the shambles with Pitcole where Palumbo gifted them massive proportion of EQTEC for their 10% holding in the MDC, massively over paying with shareholder cash !
Now that VLS has gone, EQT clearly want to take the spotlight on SAF.
You can’t make it up!
It doesn't harm to advertise, it's spending money that needs to be careful.
With Pitcole bought out we own more than 50% of Italy so given full draw down i would expect a large part will go to loan repayment and let Italy stand on its own feet. I guess a balance will be struck but basically Eqtec decides as they have majority say. I would exepect every penny they can to pay back loan will be done but Eqtec dont know precisely. Also we do not know if anyone has priority of loan repayment or if equal. Anyway however you read cash will be inbound and probably all we need before bigger deals come in. Compact are hungry as they need to deliver, unlike other partners who seemed to be little more than charlatans. Compact have certainly spent a lot of money to date £150m+ so for their sake i hope they close a sale.
“With Pitcole bought out we own more than 50% of Italy “
49.27% EQTEC are the largest holder but not a majority holding.
Based on past experience I expect Palumbo to not pay down any debt with any cash received, he probably has the next air brained scheme lined up to spend cash on and expects shareholders to pay down the debt when it comes due.
I fully expect Palumbo to buy MetalMRG out with this cash, he’s like a five year old with his pocket money, it burns a hole in his pocket.
How can this POS ever expect to keep a sustained rise when the moneymongers Altair ,Pitcole ect dump relentlessly from the bargain basement giveaway stock Palumbo keeps lavishing on them pre the placings ?
Altair are the main guilty party here facilitating Palumbos profligacy addiction,
No credible institutions anymore to hold Altair/Palumbo relentless placing and loans caper check u,m afraid.
3p now the chart on ( D ) misleading , goggle chart accounts for consolidation .
Finally had a look at holding on ( X )
Primary bid offer 9/7/20 at 0.45p consolidation price 45p.
Thank God I sold most of them first batch 23/12/20 @ 2p eqv 200p
Later that day 23/12/20 bought half of the sale back @ 1.849p eqv 184.9p.
Sold that buy back 30/12/20 @ 2.61p eqv 261p
Sold again 30/3/21 @ a lesser 1.975p eqv 197.5p ( they had fallen back to 153p on 5/3/21 )
They kept falling and falling after back to pre consolidation price .
In hindsight mistake to keep a small amount .
But got more then the outlay back after the first sale.
And loss in ISA most probably covered .
Just seen the paper loss as of today in ISA twice as much as as anything I made here 2020/21 .
Down 98% ( Wi )
The small amount left in ( X ) 101290 became 1012 new ones ( down -92% ) "always lose the part of new shares in the 1 for 100 consolidation".
( X ) claimed -92% from 23 December 2023 consolidation date , but they do not have the primary bid buy price 16/7/2020
They might have the PB transfer value cost as 0 I think was 0.45 eqv to 45p