Echo Energy Share Discussion Threads

[gary38] 03/10/2023 13:18

Selling the last few shares,any day now they will be closing the doors on Echo energy for good and turning out the lights.Disgusting behavior by the board,l dont know how they can sleep at night.

[helpfull] 03/10/2023 09:45

Remember the "Company's Luxembourg listed EUR 20.0m 8.0% secured notes"

There are still €10,000,000 on the books, due to be paid in 2032, aren't there?

Remember the "£1 million" loan due to be paid off in March 2024.

Remember the "trade payables"

Remember the remuneration for the CEO and Chairman, £357,000 a year plus unpaid bonuses.

Be careful.

[gary38] 03/10/2023 07:14

If board does make any posiitive moves to pick their shareholders pockets( which l dont think they will as they have had enough of that ) ,they will not get any wages next year .

[bspgamer] 02/10/2023 12:48

A shorters paradise

[gary38] 02/10/2023 12:31

I posted the same .

[ohdearohdearohdear] 02/10/2023 12:17

Going Concern

Consequently, the directors consider the going concern assumption continues to be appropriate although there remain material uncertainties as to;

1. Successfully raising sufficient funds.
2. Finding an appropriate investment within a suitable timescale
3. That investment being sufficiently cash-positive to fund the Group going forwards.

[ohdearohdearohdear] 02/10/2023 12:08

They NEED to raise money to continue. But they won't be able to raise money at this share price. And who would give Hull and Parsons more money anyway? Looks like administration is only days away......

[bspgamer] 02/10/2023 11:55

Wow from 1.5p to a 100th of its value, big money been made here

[helpfull] 30/9/2023 12:45

Companies are run for the benefit of shareholders.

Since Echo Energy were blessed with Martin Hull as CEO in 2018 he has received in remuneration:

2018 $156,383
2019 $389,617
2020 $708,724
2021 $423,704
2022 $343,790

Parsons, as Chairman, has received in remuneration:

2018 $101,107
2019 $185,677
2020 $84,210
2021 $110,304
2022 $92,672

That's $2,596,188.

That's over £2,100,000 between them.

There are still bonuses that have been awarded to Martin Hull that have to be paid when Echo Energy has the money.

You don't get such high quality executives without splashing the cash.

Shareholders have a lot to be thankful for.

These two high class executives have delivered a share price performance from around 10-15p a share to 0.028p per share.

Where has all the money gone?

Be careful.

[kemche] 30/9/2023 09:56

God I love this company.

[gary38] 30/9/2023 07:32

Going ConcernConsequently, thea directors consider the going concern assumption continues to be appropriate although there remain material uncertainties as to;1. Successfully raising sufficient funds. 2. Finding an appropTEriate investment within a suitable timescle 3. That investment being sufficiently cash-positive to fund the Group going forwards. Conclusion :-(1)If none of above are achieved the company will go bust.(8) maybe 80,000 raised from the boards members equity release of their own homes or family members to pay for their own wages.This has turned out to be my worst investment in my life ,which l have lost thousands.BE WARNED DO MOT INVEST ANY MORE MONEY IN THIS COMPANY AS IT COULD GO BUST ANY MINUTE.!!!!

[steelwatch] 29/9/2023 17:17

Suspension to be lifted at 7.30am Monday.

[napoleon 14th] 29/9/2023 17:05

Wow! A sign of life.
Will have a better look when time permits.

[steelwatch] 29/9/2023 16:45

31/08 RNS stated "should" be able to publish delayed AR during September, also Interims to 30/06. Nothing, unless a very late after hours announcement coming tonight. Does not auger well!

edit: and here they are at 16:45...

[terminator101] 02/9/2023 21:26

Oh dear, whi would ever have guessed that this pile of lifestyle pish would miss the auditing deadline huh. Auditors must be having a laugh to themselves with the Mickey Mouse accounts.

[disruptor1664] 09/8/2023 22:29

I was looking at my watch list thinking: ECHO are doing alright, they haven't been red in a while... That explains it ;]Mug punters pick of 2023 still on the go?

[gary38] 31/7/2023 15:03

They are probably stalling and looking for some one to buy the company so they do not have to finalise accounts,which might not be looking to good.

[gary38] 31/7/2023 14:59

And new gas contracts

[gary38] 31/7/2023 14:58

From well workovers

[gary38] 31/7/2023 14:57

Should of listened to you and Terminator101 ,now l have lost all my investment,being told stories of well workovers within 6 months being paid for by money made frohose wellhose m new contracts and all manner of things ,now no mention of those wells,all carrots to suck our hard earned money from us small shareholders.

[helpfull] 31/7/2023 14:42

Don't worry!

"Notwithstanding the temporary suspension of trading in the Company's ordinary shares, the Company will continue to make announcements as and when there are any developments that require announcement in accordance with its obligations under the AIM Rules"

They are telling everyone that there is a need to keep paying their salaries.

Slurp!

Be careful.