Spot on,Musker Ron.A very good concept totally mismanaged.I thought that LC would be able to turn the company around but the writing was on the wall when he left.My misplaced confidence here cost me a lot of money but I hope to exceed that loss when another investment fulfills it's potential.
I got in in 2010.and finally lost patience 18 months ago when I got out. Yes v good idea but it shows no matter how good the idea, if the people behind are no good then it's a waste of time. I was small fry compared to some but have no difficulty in selling when its obvious that the stock is a dud.
Does anyone know the situation at ENRT? Has it sunk without trace? Is this another one to add to the list of Woolworths, Bradford & Bingley, Medical Marketing Group....etc. Will we get anything back or is it a dead loss?
Illustrate the feeling of most shareholders. Unavoidably, one is loath to invest more due to the dire performance to date but, afraid to sell in case there is a miraculous recovery.
BTW, Michael Walters influenced me to invest in the first place. The man has a lot to answer for as he painted a glowing future for ENRT but more than that, the majority of the blame must lie with the B.O.D past and present. Inept doesn't begin to cover it . Further more, they have ignored the shareholders from day one.At an AGM shortly after the demise of 2K, I suggested that the company take over what was a going concern with a ready made ,trained workforce and,as I reported afterwards, the Chairman disdainfully said,"We dont want to get into manufacturing ".When ,just before 2K went under due to management inefficiency, they could not make enough flat sheet to fulfil their order book.
To me,that was arrant nonsense.
Or is it to do with the discussions 'with interested parties' referred to in the last RNS? Is someone effectively trying to buy the patent on the cheap? Combined with day traders having a field day. Tempted to do a small top up, but I have bought into so many false dawns on this one in the past that I don't dare any more.
On the back of no news.Is it too much to hope that it will be sustained? We have witnessed false dawns before but,on behalf of the long term and long suffering shareholders here,I fervently hope to see a continuation of the current rise in the share price.
With rose tinted spectacles firmly in place!
I would like to heartily endorse every word that you wrote : We have met at agm's and know each other to be reasonable men who can express an opinion without resorting to invective or spewing out bile.I have never,In nearly three quarters of a century, come across such a loathsome individual as TT .What a colossal ego.
However, more importantly, is there any chance of a recovery? As usual, there is no information forthcoming from the company which has been a perennial problem.
I too have lost a very substantial amount of money here but, as you say,no one forced us to buy in so,if it folds,we have to take it on the chin and soldier on.I lost my wife 10 years ago and, compared to losing money,this hardly hurts,whereas the other hurt never goes away.Y ou just have to learn to live with it.
Best wishes and better luck in the future.
If you want an apology from me I'm quite happy to give one.
I expressed my views, I never said anything I didn't believe or try and manipulate anyone.
Each and every post was in good faith. I believed what I was saying was correct.
But I have been proven to be wrong.
I lost a lot of money, my wife has lost money and two of my children have lost money.
And now I owe an apology.
What for I'm not quite sure. For losing my money or posting what I believed to be useful information? Or is it for the fact that you lost your money as well, which I and others are now responsible for? If it's for the latter you need to "Man Up". I don't like losing my money either, but I pressed the "Buy" button and no one else. I also failed to press the "Sell" button and thats my own fault as well.
Apart from losing my money, you have been the most dreadful thing about being a holder here. You are possibly the most tiresome individual that I have ever had the displeasure of listening to rant away on a board. You have driven away many people from posting and made the whole experience worse than it could have been. Maybe a dialogue could have been maintained, but for every post someone makes there are five from you.
I'm a much smaller holder now than I have been. Having lost a huge amount of money through this and believing the "Spin".
I eventually decided enough was enough when Lee Clayton left the Board. The only reason I stayed as long was that I totally believed in him. He brought some good people with him to the table.
Lee was and is the only way they were ever going to turn this around, but with the debt as it is and the Directors attitudes I cannot see how this will happen. I don't honestly believe that anyone there in charge has a clue.
With the Oxford Capital Ltd. borrowings how could they ever manage to defend the IP? Should someone unauthorised take up the process then they would have to go to court. They could never afford to do so. Oxford Capital Ltd. have both saved and murdered the Company.
So an indefensible IP means they have 7/10ths of nothing.
The best (in my opinion) that can be hoped for is that someone buys the company. But again with the debt why would you? Better to just pick up the IP and run with it.
I still own millions of the things, so I have a very long face with this.
Truly I had huge hopes here, but the misrepresentation of what was happening by the Directors has led us all astray and cost us dearly. Promises, innuendo and soothing words have all been used to cause a screen of constant failure and disappointment.
As I say I like, respect and believe in Clayton, but the rest I wouldn't employ.
This is my own opinion. I would suggest you all should make your own decisions and question the Board as to the future. I could be completely wrong and be reading things in a way that they are not, but I've just got very fed up with it all and decided it's time to move on.
"04 August 2015
Update on Earth Enterprises (trading as Waste-Not-Recycling)
Since the licence agreement was signed with Earth Enterprises in February this year our new US licensee has made great progress in the building of their PIM plant.
The installation of the oven, mould system and the fully automated robotics is now complete. They are currently programming the robots prior to the commissioning of the plant.
They are showing the usual atittude to keeping us informed. They kept us in the dark for ages before we were told that the Chinese deal had fallen through. Is it possible that something has gone wrong here?
With any other company I would think that getting this far - "installation of the oven, mould system and the fully automated robotics is now complete" - was pretty conclusive that everything is on-going, but with ERT - ?
Look at your posts over the last year and advise if you ever mention anything of value or interest. Surely its about time you talk about the Chinese deal again or waiting a bit longer. Its just so tedious. Same posts over and over again. Nick rev was just about the only person that provided reasoned analysis. Where are you nick?
I view today's news of an increase in the possibility that ENRT will survive,for now.Why bother converting your debt to equity right now if the company is about to go into Admin.Perhaps Brooks converted now as part of a tidying up process ahead of the oft hinted reverse takeover
The debt conversion does seem to me to be a sign of confidence that I wish Clayton had shown and we must hope that it is a sign that he knows good things are on the way. However, I said in a recent post that this company has made me give up hope and it will take a lot more than this to make me post "GREAT NEWS ! ! !" and mean it.
As for up 36% - those blips mean nothing, let me know when the sp is back to 3p.
Where are the cheerleaders - still waiting just a little longer before they come back on here?
Environmental Recycling Technologies ("ERT" or "the Company") (AIM: ENRT), which has developed and commercialised the patented rights to the Powder Impression Moulding ("PIM") process, which converts mixed waste plastics into commercial end products, is pleased to confirm that it has agreed with Ken Brooks that £200,000 outstanding debt in the Company owned by Ken Brooks, plus accrued interest, will be satisfied in full by the issue of a further 90,158,078 new ordinary shares at the par value price of 0.25p per share.
The terms of the convertible loan, which allowed for conversion at the holder's option at the price at which new shares would next be issued for cash, have by agreement between the parties, been varied to allow the issue of new shares at their par value, which is currently above the market price of 0.08p per share. In view of the fact that Mr Brooks was a director of the Company within the last 12 months, the transaction is classified as a related party transaction. The Directors, having consulted WH Ireland, consider that the transaction is fair and reasonable so far as the interest of shareholders are concerned.
Following this conversion, Ken Brooks will own 115,407,804 ordinary shares, representing approximately 12 per cent of the enlarged issued share capital. Application will be made for the new ordinary shares arising out of this exercise to be admitted to AIM in due course.
Negative interest rates is a deceptive name for theft of our money. The war against cash is to make it easier for them to steal our money.
Ages ago, Sinclair warned that they will steal from our pension funds - it is happening!
Has you pension fund been raided yet? This is something that should be in the headlines but isn't. UK pension funds are being raided by the thieving government - and if you are paying into, or receiving out of, a pension fund then you ought tto know. I know of two major funds that have been raided - how many others are there?
See the DECC (the UK goverment department that tells us all the lies about global warming) report for where they got their funding last year - and you will find tucked away on page 16, that they got £500 million from one pension fund - that pension was raided to pay the wages for this HUGE goverment department, and their massive expenses claims and chauffeur driven limousines for the bosses.
So Lee Clayton has his own company which is negotiating a licence deal, and I presume he will go on to seek more than one. I am not in possession of the details but I am of the opinion (guessing) that this arrangement will be more beneficial for him than for ERT shareholders.
I am disappointed that, as a director, Clayton had a very small holding of ENRT shares. Did he ever have any confidence that the sp would rise? There is an old saying - something about putting your money where your mouth is.
A while ago I speculated on possible outcomes for us. One was that someone will buy up the PIM patent in a liquidation sale. In that case, they will (I expect) go on to make a lot of money while those of us who hold ERT share certificates at home can tear them up and those who have them in an on-line account can have the pleasure of seeing a big fat zero against their value just before they disappear from their list of holdings.
Is Clayton now a position to negotiate deals with whoever owns the patent on PIM? So if ERT does go to the wall, Clayton just carries on his business with whoever picked up the patent in a liquidation sale - possibly he will buy it via his new company.
Please note that as we are not in possession of the full details, this is all merely ramblings, waffle, speculation, imagination and guesswork.
I see that Mike Walters has released an article on ENRT. I wonder if will turn out to be any more prescient :-) than his August 2015 article in which he said about the new NEDs, "look set to step into yet more active roles " and "especially John Viviani" - and what happened soon after? Those names left, vamoosed.
I wonder if his members still have any confidence in his prognostications? However, he does make a caveat about his writing, and so do I - my rambling, waffle, speculation, imagination and guesswork it is to be taken as opinion and not advice.
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