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LMAO.
What a clown. Probably will lose everything and then some.
Just like TECO shareholders.
I cant even make this stuff up.
GLTA & JMO
LOL.
AS increase to 1Billion.
Its like a race between ICLD and MVTG to see who can dilute the fastest.
Sounds like things are coming to an unfortunate resolution for all shareholders of both parties.
Who will be the one to turn out the lights when all is said and done?
I cant even make this stuff up.
GLTA & JMO
10M in profitable revenue! LMAO.
Thats why scientists make terrible accountants.
Right Larry?
Shareholders getting worked by insiders. Larry and insiders willing to say whatever it takes to keep the dream alive.
Get them in too deep to get out.
SEC and FINRA impeding insiders attempts to siphon more $$ from shareholders. Never a good sign when you draw the ire of those two entities. Just like GARB, OPMG, DYMTF, SIOR, etc.
I cant even make this stuff up.
GLTA & JMO
BQE Water Reports Q2 2017 Results
August 23, 2017
VANCOUVER, BC – BQE Water, Inc. (TSX-V : BQE), a leader in the treatment and management of mine impacted waters, releases its consolidated financial results for the quarter ending June 30, 2017.
Q2 2017 Highlights
~ Revenues as reported under GAAP were $953,000 compared to $644,000 in Q2 2016;
~ Proportional revenues were $3.2 million compared to $2.1 million in Q2 2016;
~ Net income as reported under GAAP was $265,000 compared to net loss of $1.6 million in Q2 2016;
~ Adjusted EBITDA was $744,000 compared to $71,000 in Q2 2016;
~ Cash and cash equivalents reported under GAAP as of June 30, 2017 was $685,000 compared to $2.2 million at December 31, 2016; and
Proportional cash and cash equivalents, which includes BQE Water’s share held in joint ventures, as of June 30, 2017 was $2 million compared to $3 million at the end of 2016.
Operating Highlights
The Raglan Project, Quebec
During the quarter, BQE Water commenced operations for its 14th operating season at the Raglan Mine site. The plant began treating water in early June, slightly earlier than the prior year. Based on the availability of water at the site, BQE Water expects to conclude operations by September, a few months earlier than prior years.
During Q2 2017, all three plants met or exceeded mechanical availability and process performance. Changes in water volume and feed grade are largely the result of environmental conditions beyond the control of the joint venture and will fluctuate from period to period. During Q2 2017, BQE Water had a decrease of 8% in water treated and an increase in copper recovery of 18% over the same period in 2016. On a year to date basis, all three plants have met budgeted copper recovery after a slow start to the year.
Sales and Project Highlights
Sulf-IXâ„¢ Piloting Activity
In early 2017, BQE Water started a pilot testing contract with a Peruvian resource company to demonstrate the capabilities of its Sulf-IXâ„¢ technology. BQE Water successfully completed the construction of a Sulf-IXâ„¢ pilot plant and finished two months of on-site piloting in Peru during Q2 2017. The pilot campaign was able to meet stringent discharge limits and results are currently being reviewed with the customer to determine the advancement of the project.
Engineering Services
In Q2 2017, BQE Water continued to provide engineering services for a mine located in the Northern Interior of BC. Following BQE Water’s successful pilot demonstration with this client in 2016, BQE Water was contracted to assist them with their permit application and to conduct detailed engineering for a water treatment system to remove selenium and metals using BQE Water’s Selen-IXâ„¢ and ChemSulphide® technologies. BQE Water is continuing discussions with the mine site owner to advance the project but the water treatment operations will be a part of the overall development of the site.
Consulting Services
Also during the quarter, BQE Water continued to provide consulting services for several water treatment projects in Canada, United States, Asia, Europe and Latin America. These services covered a broad spectrum of activities including operations support, development of site specific water management strategies and various stages of water treatment assessment for the removal of metals, sulphate and selenium. BQE Water expects that these activities will continue over the next several quarters and may lead to new activities and contracts as water management measures proceed to implementation.
Lab Testing Services
During Q2 2017, BQE Water continued to perform lab scale testing of its technologies at various mine sites with customers in Canada, United States and Latin America. These tests will allow mine sites to assess BQE Water’s technologies and provide high level cost estimates for possible full-scale plants. If results prove favourable, they could lead to additional services including pilot scale testing, design, construction and operation of full-scale plants in the future.
Zinc and Copper Recovery – Joint Venture
In late 2015, BQE Water announced a new joint venture to build, own and operate a zinc and copper recovery plant at a smelter in China. BQE Water has commenced engineering and construction and had expected to begin operations in late 2017. However, due to construction delays beyond the control of the joint venture partners, BQE Water now expects the plant to begin operations in late Q1 2018. Under the terms of the joint venture and operating contracts, BQE Water will receive a fixed-fee for technical support and an ongoing share of the profits from the operation.
Q2 2017 COMMENTARY AND OUTLOOK
Our results for Q2 2017 builds upon the progress achieved over the last year. The first half of the year typically has lower revenues due to the seasonal nature of our operations at the Raglan Mine site and China joint venture. However, as previously noted we finished 2016 with a strong backlog of projects and increased our year-to-date project revenue by 75% over the prior year.
In Q1 2017, seasonal conditions around our plants in China were drier than normal and as a result, we had a slow start to 2017. During Q2 2017, copper recovery increased significantly and we finished the quarter near budgeted levels of copper volume on a year to date basis. The plants in 2017 recovered 388,000 pounds less copper when compared to 2016 but with the increase in average copper price during 2017, our year to date copper revenues were consistent with 2016.
Overall, we increased our positive adjusted EBITDA significantly when compared to the same quarter in 2016. This improvement is a result of maintaining a focused and disciplined cost structure while targeting activities in key markets for future growth.
The current projects completed year to date are the result of efforts over the past several years. We have worked on positioning the Company for success by getting involved in early stages of new projects, strengthening our technical team, and advancing the development and commercialization of new products including our Sulf-IXâ„¢ and Selen-IXâ„¢ processes. We have also restructured our expenditures over this time to preserve working capital while continuing to expand our project pipeline and deliver our services in a strategic and disciplined manner. We expect to build on this throughout the current year.
Although these projects provide significant opportunities for future one-time and recurring revenues, all these projects happen in stages, typically over a period of two to three years and the timing of revenue and cash flows is uncertain. Consequently, the consistency of the Company’s profitability through 2017 and 2018 cannot be guaranteed with the existing projects pipeline and the continued growth of the projects pipeline, sales bookings, and execution of projects to generate cash flow are the primary areas of focus for the Company’s management.
We are scheduled to repay the principle amount of the convertible loan on January 6, 2018. Currently, we believe that we should generate sufficient cash from operations and new projects through the rest of 2017 to meet this obligation. However, the lack of control in timing of revenues from forecasted projects introduces the risk of temporary shortage in working capital and could impact our ability to repay the loan.
Q2 2017 Financial Highlights Summary
For a complete set of Financial Statements and Management Discussion and Analysis, please go to www.bqewater.com
About BQE Water
BQE Water is a service provider specializing in water treatment and management for the mining and metallurgical industry. We are focused on reducing Life Cycle Costs through customized solutions that reduce risks and long-term environmental liabilities while introducing sustainability into the overall water management plan. We have extensive expertise in the removal, recovery, and/or recycle of a broad range of metals, sulphate, selenium, cyanide, ammonia and other nitrogen species. BQE Water has commercialized several water treatment technologies and built plants at mine sites around the world for organizations including Glencore, Jiangxi Copper, Freeport-McMoRan and the US EPA. A key part of our business is our involvement in the ongoing operation and maintenance of treatment plants. We currently operate several plants under long-term contract and provide operations support to other plants globally. Our capabilities in implementing technical innovation and plant operations provides us with first-hand experience to deliver practical and actionable consultancy services. The company operates water testing laboratories and mobile pilot treatment facilities in North and South America, and China. BQE Water is headquartered in Vancouver, Canada and trades on the TSX Venture Exchange under the symbol BQE. Please visit www.bqewater.com for more information.
LMAO.
$1K in volume.
I heard that MVTG was on the brink of BK.
LOL
I cant even make this stuff up.
GLTA & JMO
It would be funny if it all wasnt so sad.
MVTG veering into oblivion.
Volume and interest are drying up and shareholders are locked into a dwindling investment.
I feel sorry for everyone trapped in this investment quagmire.
Maybe the Bavarian brewery will sign another LOI.
LOL
I cant even make this stuff up.
GLTA & JMO
Think you may be missing the point.
MVTG needed to raise the AS to pay for operations as they are cash flow negative. Without the increase there is no paying salaries, expenses, offices, etc.
They likely cant afford to even pay for filings.
It means more dilution from those holding treasury shares. Which means that insiders may lose their ownership majority.
LOL
Its a damned if you do and damned if you dont situation for those who were hoping to take advantage of shareholder donations.
FINRA & the SEC are going to make things very difficult for MVTG moving forward. And for good reason. Just like GARB, OPMG, SIOR, DYMTF, etc.
I cant even make this stuff up.
GLTA & JMO
SEC denies any kind of concurrence dealing with SS until financials are filed.
LOL
Not a great place to be for MVTG and shareholders.
The 10K will be a disaster as per usual. And MVTG likely has no money to even pay for the filings.
Looks like shareholders are stuck with worthless paper and insiders are just stuck.
Sounds like insiders werent as smart as they thought they were.
Only a matter of time until some start to bail.
Get ready.
GLTA & JMO
FYI.
Down 20% today.
.002 away from a new 52 week low.
Looks more like an inverted outhouse.
GLTA & JMO
Just wait.. the internal finger pointing is starting.
And once the house of cards starts to tumble it will be a race to the exits for insiders.
Shareholders will roo the day they didnt exit above trip zeros.
Its about to go from bad to worse.
GLTA & JMO
Yep.
Shareholders will be holding dead paper for a long long time.
In the meantime how will MVTG pay for the filings?
Yep.
More dilution.
GLTA & JMO
And I wonder how MVTG is going to pay for the 10K.
LOL
What a disaster.
I cant even make this stuff up.
GLTA & JMO
So the SEC is paying attention here. LOL
Thanks for confirming.
And for good reason. Of course insiders dont want to release the 10K ahead of the shareholder meeting.
We all know what a disaster it will be and then the veil of illusion will disappear and those hoping for appreciation will be victimized by the reality of the selling.
FINRA and the SEC are watching and thats not good for MVTG.
Judgement day is coming. Cant wait for the 10K.
GLTA & JMO
Big day today! LOL
Shareholders about to get an inconvenient truth dumped on them.
500Million "sorries".
Someone call Larry.
Cant even get out now.
GLTA & JMO
LOL.
So much volume. So much interest.
ZERO of both.
Look out below folks.
GLTA & JMO
What? LOL
The MM's are the only friends shareholders have left.
No way to sell shares without them.
I cant even make this stuff up.
GLTA & JMO
Bottom line is that Alstom's contracts with other "partners" did not automatically lapse just because they were bought by GE. Thats not how it works. They dumped MVTG. And for good reason.
LOL
Cany you imagine if that was a normal course of business during acquisitions.
Most shareholders and insiders have also dumped MVTG.
LOL
Shareholders need to wake up before all is lost.
GLTA & JMO
It absolutely was a "dumb" video with no scientific merit. It was a waste if time and a waste if money.
It was also detrimental to shareholders and those who believed the tech was actually feasible.
May as well have been a clown riding the silly thing.
Another disaster for MVTG and shareholders in a long line of inconvenient truths.
LOL
Get ready for 500M more shares on the ASK.
GLTA & JMO
LOL.
Love the paint jobs to keep the illusion of BID support.
Volume drying up and so are the prospects.
Just look at the recent 8K.
MVTG still decimating investors capital and holding shareholders hostage.
Larry you really know how to work them over.
Shareholders should be livid.
Trip zeros cometh.
GLTA & JMO
LOL.
Everyone wants out. But no bid.
GLTA & JMO
5 days until 500 Million more shares get added to the SS.
Lower lows and lower highs will be exacerbated.
Those have realized 99% in losses understand the patter now and those on the sidelines are counting their lucky stars.
Get Ready.
GLTA & JMO
Another RED day in Mantra-ville.
Down she goes.
If anyone did short this stock they have made more than the longest of shareholders.
LOL
GLTA & JMO
Say what.
39%?
LOL
Time for a reality check.
GLTA & JMO
Nope.
Judgement Day is coming.
Scientists make lousy investment advisers. Just as Larry the Scientist.
LOL
Get ready for trip zeros.
GLTA & JMO
BS.
Margins are 2% Gross.
Operating losses were more.
Net Loss was $5M as per the 8K.
Pretty simple. Shareholders are in a daze.
GLTA & JMO
Celebrating a bump to .005 on $2k in trade volume?
LMAO
Just about ready for a new 52 week low.
1 week until the AS increase.
Get Ready.
GLTA & JMO
LMAO.
On the verge of a new 52 week low.
3 Year chart is a disaster. The stock is broken.
And the overhang will bury anyone holding paper at a retail level.
Better out with a loss than a tombstone.
August 22nd cometh.
GLTA & JMO
Yep.
Judgement Day cometh.
Trip Zeros soon after.
Remember how all legit scientists left the building many many months ago.
GLTA & JMO
Ouch. Another RED day in Mantraville.
Down 20%
Life IS beautiful.
MVTG not so much. AS ventilation will sed this to trip zeros lickety-split.
GLTA & JMO
Never trust a scientist to make investment decisions.
Right Larry?!
LOL
I cant even make this stuff up.
GLTA & JMO
And dont forget the abysmal 8K that foreshadows more of the same for jubilant shareholders hoping for a hail mary after their shares have plumetted 99% over the last several years.
The market knows MVTG is a losing proposition based on toxic note holders, millions in annual losses and insiders paying themselves handsomely for diluting on shareholders.
Trip zeros are coming. It has to. It must.
Then a likely RS.
And we will have a new slate of hopefuls.
GLTA & JMO
Thats right.
Cherry picking some of the line items and distracting from huge losses are part of the pattern.
AWS exists as a relay to pay insiders essentially.
Shareholders will not get any value from this kind of operation.
500M shares coming to the AS. And guess who its going to.
Get ready.
GLTA & JMO
Uts called lipstick on a pig.
Shares are such a steal down here that nobody want to buy 'em.
Look out below folks. 10 days til 500M shares hit the AS/OS.
Insiders need a way to fund operations; and charitable donors.
GLTA & JMO
Where are all the shareholders who wanted shares at these levels?
Not cheap enough yet?
$500 in volume with all the great things coming?!
LOL
Sounds like sour grapes.
GLTA & JMO
Nobody is buying this pinksheet stock.
$500 in volume shows anemic interest and a lack of liquidity.
Both are symptoms of a poor investment.
Better out with a loss than a tombstone.
GLTA & JMO
LOL.
Yep. 500$ in trade volume.
Just enough to keep some shareholders distracted.
Lower lows and lower highs.
Market is apathetic towards MVTG. And for good reason.
Guess the financials werent as shiny as predicted.
LOL
More pain on the way.
GLTA & JMO
Never put your finances in the hands of a scientist.
Right Larry?
LOL
11 days until the AS gets ventilated.
Trip zeros are afoot.
GLTA & JMO
NOBODY in their right mind would believe a word these guys say.
And if they do, they deserve what they get.
A fistful of nothing.
GLTA & JMO
12 days til the shareholder "meeting". *wink wink*
500 Million shares added to the AS.
The spigos of dilution may soon be wide wide open.
The 8K yesterday should be a real eye-opener to shareholders.
GLTA & JMO
Down 8% is a hint of whats coming? LOL
This dog wont hunt.
Insider are the only ones that are going to escape without decimated pocketbooks.
I feel sorry for everyone that fell victim to this investment quagmire.
I hope nobody invested more than they could afford to lose.
GLTA & JMO