Eqtec Share Discussion Threads

[pa123] 29/9/2023 10:21

Partnering with Idex in France...this could be a great come back story in the not too distant future.

[volsung] 29/9/2023 09:58

Green tech is mostly a scam
Just about all the faves are way down from their peak with little chance of recovery.

[yump] 28/9/2023 16:42

pa123

The old fashioned way would mean remortgaging their houses - that was never going to happen !

Feel sorry for anyone who had more in this than just part of a small diversified might-have-legs tech holding.

To be fair it was part of an energy tech share price boom which bust a year or so ago.

Time to hunt for the ones that have been taken down with it but are actually building orders.

[stevea171] 28/9/2023 15:29

pa123. I was trying to help you and others but many were convinced this green tech must be a winner and could not face up to crystalizing their losses.

They thought I was just being perverse after taking my own very considerable losses months ago.

[juju44] 28/9/2023 15:23

Nothing has gone to plan because they never had a decent plan

[pa123] 28/9/2023 15:15

I'm invested unfortunately, nearly lost all my investment, but i have to say the Italy MDC was crucial, the fact it hasn't gone to plan had finished this off.

[stevea171] 28/9/2023 15:10

Palumbo considers these accts are "a going concern" but an auditor would not.
His lying never stops.
FY Accts as of 31/12 are just 3 months away which must be audited.

Cash at 30/6: EU930k
Riverfort repayments & interest: EU290/mth from June.
So the cash at 30/6 is now gone without paying any salaries July to Sept if no cash was received in this period.

They need cash quick.

What is the status of the Italia MDC?
Still no mention of performance, what has gone wrong or how to rectify the tech which is not performing to spec and possibly operating at a loss.
No mention of implications of this for North Fork and Larissa plants.

[juju44] 28/9/2023 14:44

They did well out of it

[pa123] 28/9/2023 14:41

Thanks to the morons at the helm, the share rice is now less than half it was in November 2019! After extracting 50 million from investors.... and all the 'pipe line of pipeline' guff. Pathetic.

[juju44] 28/9/2023 14:29

Wouldnt bet on that . These gangsters will probably just milk the cow dry

[pa123] 28/9/2023 14:29

a pay cut now is too little too late, they are a sham I'm afraid. Classic lifestyle share company. A total disgrace.

[apol70] 28/9/2023 14:24

Yump: I made a post on here circa 3 months ago as a holder who had just sold out all of that holding at a considerable loss. I questioned the lack of clarity re their financial position and queried why they were doing all these deals instead of focusing their resources on one site and proving the technology I.e. don't spread your dosh thinly. This is schoolboy stuff - nobody will buy a product unless it can be shown to work.Their lack of a clear strategy, business plan is again schoolboy stuff. It is sad it has come to this as I always want companies to succeed as much for themselves as well as the shareholders.No doubt the directors will be taking a pay cut now??

[stevea171] 28/9/2023 13:16

An Accountants view. re: Interims Today

A close read of the interims and it looks pretty bleak to me.

The going concern warning as I expected. Auditors would not be signing these accounts off as a GC for sure.

Cash of only €1m but debt (mainly Riverfort) of €4.7m payable over next 18 months.

Net Asset recoverability limited. Closer inspection of the Balance Sheet shows the Net Assets are comprised of 17m goodwill being written down, development costs and further spurious investments. Auditors will be insisting these are significantly impaired at Y/E.

Admission that need a Strategic investor to survive. For me this plays out in 3 ways over the next 6-12 months:

1. Private Equity/MBO

2. Trade Sale of Tech/IP

3. Administration

Either way I fear investors will come away with little to nothing unfortunately. Moral to this story is when a Director offloads 25m shares at 1.91pm follow suit sharpish. Only took 30% off the table so live and learn.

[pa123] 28/9/2023 10:30

no laughing at the back

[pa123] 28/9/2023 10:25

One thing is certain, they can't tap the market anymore. They'll have to have a go at running this like a proper business, and try and make profit the old fashioned way.

[juju44] 28/9/2023 09:44

Another rat jumping ship

[juju44] 28/9/2023 09:44

Another rat jumping ship

[stevea171] 28/9/2023 09:24

MNRG RNS today:
"As a result of the Company's strategic review, our partnership with EQTEC and our investment in EQTEC Italia is considered non-core and the Company will be seeking the most suitable exit from this investment and we will inform the market of our progress on this."

[molatovkid] 28/9/2023 07:17

Busy fools this company

[stevea171] 26/9/2023 18:33

And that's about all you're capable of - name calling, school yard stuff!

[pa123] 26/9/2023 16:31

shares still being bought doctor doom

[juju44] 26/9/2023 15:15

Morning traders taking profits while they last

[stevea171] 26/9/2023 14:56

pa123. You're missing the point. It's not about gold mining. What do AAZ and EQT have in common?

"there is a material uncertainty as to the Group's ability to continue as a going concern."