Hello, Share Checkers. Continuing my occasional search for green shares you may not have come across before, I give you Eqtec (EQT). This futuristic outfit has developed a technology that allows it turns all sorts of rubbish into a clean gas.
Eqtec (EQT) has always seemed to be one of those companies that is far better at delivering a stream of RNSs than it is at actually delivering anything of substance that actually generates a return for the average PI investor – although warrant holders have done very well as a result in the past!
On Thursday last week AIM-listed Eqtec (EQT) announced a placing and PrimaryBid offering which raised £10 million at 0.45p, a 33.8% discount. That will have hurt existing shareholders, but not as much as the new shareholders who today woke up to learn that the company is in receipt of a filing of legal complaint alleging patent infringement in California from Aries Clean Energy LLC. And the two are unconnected?...
Last month I wrote on EQTEC (EQT) 2019 results & new broker appointment… I wonder why? – concluding the shares have since soared to a current 0.56p, capitalising the company at £22.5 million… and now a “pleased to announce” appointment of a new broker, I wonder why? Attempted discounted fundraising ahoy? Certainly presently bargepole ahoy!. The shares last closed at 0.68p… but now “Proposed Placing & PrimaryBid Offer to raise £10m”...
EQTEC (EQT) Chairman Ian Pearson is “very pleased to introduce EQTEC Group's Final Results for 2019” and the “technology solution company for waste gasification to energy projects” is also “pleased to announce” the appointment of Arden Partners as its joint broker. Hmmm...
Regular readers of Share Prophets will know that I’m not exactly a fan of Eqtec (EQT) and have been far from convinced by all the very vague news releases coming from the company, and that opinion certainly hasn’t changed as it seems to provide even less these days by way of actual exact details.
Smaller companies often offer promises of imminent revenue streams which cause upward spikes in the share price, but for any longer term appreciation in value they need to actually deliver on the expectations of their shareholders. Currently that would definitely seem to be the case with Eqtec (EQT), which I have been bearish on since the share price was between 1.26p and up to 1.57p, and private investors in this gasification to energy company were quick to point out how wrong I was when there was a brief spike in the share price shortly after my initial coverage at the lower end of that range. So, it has really come as much of a surprise to me that the share price has steadily declined over the few months since then and it now trades at around the 0.84p level to buy...
