Is EGT still a going concern?
A few days ago was in Calgary and drove past the Eguana office. Did not try to go in as I am not currently nvested but have been in and out over the years and have always really wanted success for this company.
At 11am there were 3 vehicles in the parking lot and I could not tell if the lights were on in the office. It was -100000 degrees during the polar vortex so that may have effected people going to the office but, to me, I don't think anything is happening in Calgary.
-The second tranch of a small $2 million PP has still not filled (or been announced). No one is investing in the company any longer.
-When the hold ends for the DH divestment the flood of taxloss selling of those shares will be overwhelming. The people are receiving all of the fund shares not only EGT so there will be winners to compensate for the losers in the portfolio.
-No money to buy parts to build and if Omega is still the manufacturing partner I am sure they are not fronting money to build at this point. They are seeing the clearance sales of distributors that can't sell systems
-Employees laid off and other message boards have discussed furloughed employees as well.
-No news or public statements
-Duracell non-payment tells me that Duracell is not paying for product that does not work or is a money loser. I have never heard of Duracell being a shady company that does not pay just because they don't want to. That would be all over the news so, I believe, Eguana failed Duracell not the other way around.
-3 decade old technology. Nobody is coming to buy the company for the patents. There is new better tech on the market that does everything and more. The industry leader that EGT has always touted as being is long gone.
I think this is over, just waiting for the board resignation news release followed by delisting from the venture exchange.
Very unfortunate.
GLTA
DYODD