Who the f*** is Petra Capital

EOS made a huge announcement last week and in the aftermath immediately killed any possible positive share price response. This raises the question, who is advising the board in these matters?


The company announced an order of 410 million and made public a presentation from which we could learn they have already an estimated ‘order backlog’ of around 2,5 billion. And counting… Massive. For a ‘little’ company with a modest marketcap.


600 million contracted orders + ‘400 million underway from clients who already selected EOS’ + aftersales of 150% of the original contract value ~ 1,5 billion. You have to combine information to reach that number, because EOS’ presentations are rather vaque.


Before investors could revaluate the company, the placement of 20 million+ shs was announced, based on the last closing price of 2,91$ per share… Proceeds ’used principally as fixed deposits to secure project performance bonds’. They could’t wait for a single trading day….to relocate the shs to Petra’s clients… I’m not Australian, and have never heard of this ‘investment boutique’ with a handful of employees (google).


And then the announcement of the SPP. 1,7 million+ shs ready to sell with every uptick, killing any sort of short term momentum till the end of march. Why? It doesn’t make sense. This is not how the market works. After the news we should have seen a convincing new high, way over 3,40$. The current price-movement scares potential investors.


Does the company maybe want to issue more stock options towards the AGM at a low price? They do have new management members. Otherwise, I’m clueless.