When chung and Mrs deccer where all over EQT along with share talks crew .... I told them straight it was a dud as eqt had no money = expensive loans and too many projects.
Happy to help you chung - no thanks required my boy |
Down it goes. |
From Simply Wall St
First half 2024 results:
€0.016 loss per share.
Revenue: €1.45m (up €1.30m from 1H 2023).
Net loss: €3.19m (loss widened 32% from 1H 2023).
Revenue is forecast to grow 55% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the United Kingdom. |
Thanks to SloppyG from LSE:
Not a lot to like here financially imo and results pretty much in line with my worst case. Predicted Operating loss of €1.7m and came in at €1.63m loss.
Revenue and GP a bit better than thought but Opex is still completely out of control and is killing the business. What happened to the so called 20% reduction in overhead ? Opex H1 23 €2.1m H1 24 €2.3m.........so costs have actually increased by 10% !
Debt is now > €6m and Net Assets down to €19m although a significant chunk of this is Intangible goodwill and spurious investments that are very hard to ascertain true underlying value.
I imagine Operating losses in H2 will also be c€1.5m so the recent cash raise is not going to last long. It is difficult to envisage them being able to avoid tapping the market again in due course with this current level of overhead. "Strengthening" the Board will not have come cheap and note the private equity experience.......still feels the the most likely route out of this. |
I don,t think anyone believes this confetti company any more not surprising
jj |
When plant doesnt work they lose a fortune trying to fix it |
Is this second hand 'news' worth anything?! From LSE 23/9.
>>> No news on North Fork from Palumbo even though we gather from Phoenix it is up and running, (although as we have discovered with Italy up and running has a very loose definition), The lack of news and actions to destroy shareholder value is straight out of the MBO playbook,
If North Fork is operational it is likely to be stop/start as per the Italia MDC which would be why EQT doesn't want to mention it ...... |
I'm guessing no-one bought any of the 20 million retail shares on offer otherwise they would have had to make a listing announcement?
What chance the new NED will be putting his own money in? |
Good question! |
why participate in a piddly retail offer at 1p when you can buy in the market at 0.97/0.98? |
Retail offer - now let me think... |
I can’t imagine there will be a fire sale as there is nothing worth buying. If the tech was that great and viable, there would be more installations.
Waste to energy is for businesses with other significant income to fund it.
Name a small business that has growing installations and a clear route to financial viability.
For some reason I bought a few of these, even after losing on Hydrodec. Must have had a brainstorm.
That SAF business Velocys went the same way. |
Runway? As in catwalk?
Is that a subliminal message that EQTs residual assets eg the tech and IP rights are for sale? At what price? To whom?
More than a penny obviously.
Can't imagine there will be much demand from retail investors. |
Another thanks to SloppyG, the accountant, on LSE:
"Well think I have answered my own question. Fully expect now interims to show opex is still out of control and they will have lost c€1.5 - 2.0m in H1 (Cash & profit). Consequently the logic net 1.5m will cover H1 losses and this raise pays their salaries for H2.
As said DP cannot lose. Each subsequent raise covers his package and allows the company to get their ducks in a row for an almost inevitable MBO at fire sale prices imo. Easy to cite macro economic environment when the RNS lands saying cannot meet their liabilities hence...." |
Anyone still holding here was warned about another cash raise coming as H1 results when released in a few weeks time will show a loss that takes care of this £1.5 million and the company continuing to operate at a loss.
VDL's recent exit reduces the admin costs (they can't afford to replace him contrary to the BS in the RNS announcement) but going forward the company is still under water and heading for likely closure when this £1 million is spent! |
David Palumbo is a crook. Or at best an unscrupulous halfwit getting away with daylight robbery. You shareholders need to get him out asap. |
Heavily discounted robraise money for the BoD Christmas Party |
Money received at last! |
Still no news this is pitiful |
Sold out...no belief left |
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