Echo Energy Share Discussion Threads

[ohdearohdearohdear] 20/4/2023 08:54

The 100K isn't going to last too long - even if the £500K arrives in time they just about have enough for 1 month.

[helpfull] 20/4/2023 08:51

The mug punter should remember that as the market capitalisation hovers around £1 million there is €10,000,000 of bond holder debt and $19,511,235 of trade parables debt at 30 Jun 2022 (although the $19.5 million might have been reduced to about $12.5 million according to Feb 2023 update).

Be careful.

[ohdearohdearohdear] 20/4/2023 08:51

So from end of June 2022 to beginning of Jan 2023 they burned through approx 900K (150K a month)..........how???

From beginning of Jan 2023 to end of April 2023 they have burned through 1.7M (more than 400K a month)...............how???

They should be cash positive from gas sales alone..........what is going on?

[gregpeck7] 20/4/2023 08:45

Is the big dump coming ?

[m0rrisminor] 20/4/2023 08:30

Hold on to those golden tickets £5 won't cut etc. Makes Swiss TONY look like an amateur.

[helpfull] 20/4/2023 08:21

A look at the cash history.

Cash at 31 Dec 2021 : $742,339

Placing 14 Jan 2022 : £660,000

Cash at 30 Jun 2022 : $1,314,969

Placing 12 Aug 2022 : £600,000

Exercise of warrants 23 Dec 2022 : £82,977

Cash at 2 Jan 2023 : $1,100,000

Cash at 17 Apr 2023 : < £100,000

There is confusion where the upfront gross cash payment of US$1 million (US$0.7 million, net to Echo) announced on 2 Feb 2023 fits in.

Presumably after 2 Jan 2023.

4 Questions :

1. If cash was $1,300,000 at end of Jun 2022, why the cash raise in August?

2. Why did Andina exercise warrants at 0.25p instead of the prevailing share price (a 108% premium)?

3. Does the upfront payment to Echo on 2 Feb 2023 of $700,000, added to $1,100,000 on 2 Jan 2023 mean a cash spend of $1,600,000 up to 17 Apr 2023 (just over 3 months)?

4. What is the current state of the trade payables?

Be careful.

[mebo2] 19/4/2023 23:06

Parsons sailing close to the wind again, he needs replacing.

[tomboyb] 19/4/2023 16:04

Lombard have another 14% to sell -

[ohdearohdearohdear] 19/4/2023 15:59

To be fair, there were few clues. All the previous RNS's were very positive and there seemed to be an absurd disconnect between the RNS's and the share price. But more recently LO have been selling out at any cost (in PI's eyes because they wanted to crystalise a loss for tax purposes) - but the RNS of yesterday throws a sinister shade over everything. The RNS yesterday was a 180degrees opposed to the previous ones - something has happened over the last few months and LO knew about it. I wouldn't be surprised at all if the next RNS reads that the Company and its directors are being investigated.

[helpfull] 19/4/2023 15:51

The selling down by Lombard of its billion+ share holding isn't a positive.

The mug punter thinks a white knight will roll in with a rescue.

It is a race to the bottom.

Were there any clues to this debacle?

Would the mug punter have taken any notice?

Be careful.

[ohdearohdearohdear] 19/4/2023 13:46

"Parsons has yet to fail"

If you replaced "fail" with "succeed", then it will be a true statement.

[kemche] 19/4/2023 09:15

I continue to average down. Parsons has yet to fail.

GLA LTHers!

[terminator101] 19/4/2023 09:08

And echo keeps on giving and giving.

[helpfull] 18/4/2023 08:29

"In the meantime, and whilst the Company has received feedback that due to its large creditor position and Argentine macro-economic factors the raising of additional equity without a transformational transaction would likely be challenging"

The model is broken.

Cash raise after cash raise. Selling on placing shares to the mug punter.

There is a bigger player in town. Lombard.

Parsons corner shop versus the multinational, out of town hypermarket. If Parsons could issue shares for cash, he would do. Balls to the mug punter. But he cannot. A case of being hoisted by his own petard, n'est pas?

Be careful

[gary38] 18/4/2023 08:06

You and Terminator101 must be racking it in on your short trades,glad someone is .

[helpfull] 18/4/2023 07:58

"Everything’s down"

Not quite everything.

When there is only £100,000 of cash remaining, even after taking a $1,000,000 payment up front, you'd think a severe salary sacrifice would be in order.

Not these bozos. They want their pound of flesh in their bank accounts. I wonder if any bonuses have been paid?

Is Parsons the Chairman? Didn't Marco Fumagalli jump ship recently?

Any cash injection will rescue the remuneration and payoffs of the BOD.

And absolutely devastate the value of shareholder investments.

The conversion of debt to shares by LO et al, and subsequent selling, now appears very astute. Even at lower and lower prices. It will continue.

The mug punter has been warned many times.

Expect a fresh batch to appear.

Be careful.

[terminator101] 18/4/2023 07:11

Horror show.

Everything’s down. And not just a little, but very significantly. More worryingly there’s knack all cash left, and they are in talks for someone to inject cash. Do you think they will do that out of the goodness of their heart, or require equity at a very significant discount?

“As at 17 April 2023, the Company's UK cash balances are less than £0.1m“

[peterdonovan] 31/3/2023 22:28

Do you run the boiler rooms ? As you say the same thing on a lot of shares you comment on lol

[peterdonovan] 30/3/2023 22:54

Same Gary, 30 million and counting lol I can wait.

[gary38] 30/3/2023 11:29

I have a big holding here which l am down 90%,eye watering but have no choice but to hold out here for maybe 1 or 2 years ,hopefully to get my investment back with a big of inflation on top

[gary38] 28/3/2023 17:30

Terminator is one off the few making money here through his short selling positions,maybe also Helpful.