Enteq Technologies Share Discussion Threads

[p1nkfish] 31/7/2023 08:43

We have the rest of the day but doesn't look very good at mo.

[somerset lad] 31/7/2023 08:29

Elementary listed company hygiene to release results at 7.00 am when you say you will (in "July" in NTQ's case), or to put out an announcement ahead of time saying you will be delaying and why.

[p1nkfish] 31/7/2023 08:19

As far as management goes, something changed, and not for the better, as it rolled over.

Until shown otherwise that's my take.

I want to be wrong about this.

[p1nkfish] 31/7/2023 08:12

Surprise, surprise. Heading to PE buy-out imho and current management will be in clover. Really disappointed so far, hope I'm wrong.

[1gw] 31/7/2023 07:33

And still no results?

[somerset lad] 28/7/2023 08:08

Deadline to avoid suspension is end of Sep, isn’t it? July was promised by NTQ rather than required by rules.

[dolittle1] 28/7/2023 07:50

Shares could get suspended.

[1gw] 27/7/2023 19:49

Martin Perry and David Steel have 10% of the company between them and I don't imagine they will want to see their reputations or wealth tarnished by a fire sale to private equity or anyone else. MP as chairman (6.6%) will still have considerable influence even after DS leaves.

The fall in shareprice this year has been on remarkably low volume. Today was the highest volume day YTD as far as I can see. It looks to me as though major shareholders are happy (or feel they have little alternative given the liquidity) to stay put and see if management can successfully get the technology into the market.

I would have thought they should have enough cash to get through the test, customer field trials and then start rolling it out, provided there aren't any more material delays. If we get confirmation that things are looking good then the shareprice could recover very quickly. On the other hand, if there is an unexpected significant technical hurdle it could get worse. Hopefully not long to wait now to get a good steer on which way it's going.

[sturmey] 27/7/2023 19:43

As far as I can tell, "current management" is very little different from previous management. Steel and Perry have been with the company since the IPO (or just after in the case of Steel). For those of us who have held the shares for over 10 years it has not been a fun time. As discussed in many earlier posts, NTQ has become a binary investment depending on a make/break outcome of SABER. Personally, I think the risk/reward equation is favourable. I think the most likely outcome of SABER success would be a sale of the company at a much higher price. Possibly this has been the intention of Perry/Steel for years. I took advantage of today's increase in volume to add another 50,000 shares to my large holding.

[p1nkfish] 27/7/2023 17:04

Current management appear weak compared to the old guard.
I can see this being sold for pennies to PE.
Seriously need to pull a finger out.
Sorry to say it.

[1gw] 27/7/2023 16:55

Just 3 months after completing the purchase of Enteq's XXT assets, Rime sells itself to Cathedral.

[mjneish] 27/7/2023 10:15

But couldn't they just release the results with a comment that results of the field trials are pending and will be announced shortly?

[1gw] 27/7/2023 10:09

Well fwiw, and bearing in mind that as a long-term shareholder I'm looking for positive interpretations...

I think if it was an audit issue, they would have already flagged a further delay if the end of the month was in doubt for being able to issue results;

And in terms of "hiding" bad news on a Friday, it's difficult to see what worse news could be in the accounts, although there could certainly be news of a further delay in SABER (and perhaps a question therefore on carrying value) which would be a downer;

So I think the most likely explanation is to do with the field trials - that either they have started them and want to leave it as late as possible to be able to talk about whatever results they have, or they are about to start them and want to be able to say in the update that they have actually started.

[p1nkfish] 27/7/2023 08:25

No comment.

[1gw] 27/7/2023 08:13

Oh well. The wait goes on.

[1gw] 26/7/2023 16:48

Fingers crossed for a decent update & results tomorrow then. Or will they try to hide it on a Friday or push it into next week?

edit: and for reference, finnCap suggested in their April note that the timing of the US SABER trials was: "additional test drilling in N America in July and August and then customer field trials" so I would hope that at the very least the company can tell us in the update that this test drilling is now underway.

[1gw] 20/7/2023 09:43

The paint looks as though it's still drying...

Now a full month since the date the company originally expected to release results. Odds on next week now. No clue as to whether this was an audit delay or a tactical move to delay until they expected to have further SABER news to release. End of July lines up with the 1st August abstract submission deadline for the IADD, but when is or was the testing?

12th April:
"The Company expects to announce its results for the year ended 31 March 2023 on 20 June 2023."

1st June:
"Further to the announcement made on 12 April 2023, the Company now expects to announce its results for the year ended 31 March 2023 during July 2023."

[1gw] 27/6/2023 08:59

IADD Rotary Steerable Technical Forum in Houston on 31st August.

Let's hope we have spectacular results from the US test drilling to present by then, and even better if the results are available by 1st August which is the deadline for abstracts to be submitted for the official program.

[valuehurts] 23/6/2023 18:49

Strikes me as a good replacement. Nothing more reassuring at a startup than a dour Scotsman in charge of the purse, willing to take equity as part of his remuneration.

[ga_dti] 19/6/2023 12:08

Interview with new CFO Mark Ritchie discussing his new role -

[valuehurts] 15/6/2023 21:48

Would be good to see new CFO come in and buy here. Same with the rest of management... nothing would be more encouraging..

[p1nkfish] 15/6/2023 15:28

You would think so.
Have yet to see proof the CEO can turn the ship and deliver much of anything.
The ship is drifting, where's the map and steady hand on the tiller?

Not even very basic IR/PR or any reassuring statements or proof of pre-sales.

[1gw] 15/6/2023 15:04

Somewhat depressing to see this steady erosion of price on the back of relatively low-volume selling.

Instead of recycling old news and marketing pieces on the potential of SABER, could the company consider being more specific on when the US trials are going to happen and what a realistic road-map is for the rest of the year in a success scenario?

[valuehurts] 07/6/2023 12:34

Getting closer to those US tests. Looking forward to finding out what engineering improvements they have made. Product getting further derisked.