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ARB
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Argo Blockchain’s Disgraced Peter Wall walks the plank with immediate effect: more red flags vicar?

The man who sold £3.5 million of shares at 243p AFTER sounding out folks about a placing which took place a few days later at 200p is gone. Yes, Peter Wall the CEO and ( for 18 months) “interim” chairman of Argo Blockchain (ARB) has announced his resignation with immediate effect.
XSG

Xeros Technology – argues “positive progress” in India, so why the lack of detail and EBITDA miss then?

Xeros Technology Group (XSG) notes in a “trading update”, “positive progress by its licence partner in India, IFB with the launch of an 11kg domestic washing machine into the Indian market” and that it “continues to support IFB in the final stages of testing of a 9kg domestic machine prior to market launch, with a senior Xeros team visiting IFB in Goa in February”. So what of a current share price response down by more than 6% to 4.6p?
TSP
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TruSpine: How Do You Confuse An Idiot?

Aquis lobster-potted TruSpine (TSP) released a statement yesterday morning to tell us that the £200,000 bridging loan, available “immediately” on 3rd January (but never arrived), which was expected to be received “shortly” on 1st February, has still not arrived. Natch, the company maintains it is on its way. Yeah, right…..the cheque’s in the post, caught up the mail strikes and next up it won’t have been signed.
Bearcast
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Tom Winnifrith Bearcast: I shall now block anyone emailing me about Kefi, it is sending me bonkers

In today's long Bearcast I discuss Kefi Gold & Copper (KEFI), Sosandar (SOS), Argo Blockchain (ARB), Ben's Creek (BEN), Cellular Goods (CBX) and an IPO from Primary Bid and the spivs at Novum to avoid like the plague: World Chess
SOS

Sosandar – Mystic Meg Strikes Again!

In my last piece on AIM-listed online ladies fashionwear purveyor Sosandar (SOS) back in December, I suggest there was clearly a placing on the way. This morning it is Mystic Meg strikes again, for we have a placing at 22p. Time for a nice glass of ouzo!
VAST
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Helping paid share "promoter" David Burton of Total Market Solutions with his maths re Vast Resources - GCSE fail for Dave

Total Market Solutions, owned by David Burton, earns its crust promoting penny shares for cash. It is open about it and let me be clear that there is absolutely nothing wrong in this trade although one imagines that Mr Burton has to hold his nose on occasion with some clients. But there is promotion and then there is telling outright porkies, which brings me to his tweet this morning about Vast Resources (VAST) when the shares were 0.66p.
HDD

Hardide – “pleased to report” results argue “reasonably placed”. Is it sure about that?

Previously writing on surface coating technology company Hardide (HDD), in September with the shares at 19p I concluded including that it will be interesting to see the full-year results and balance sheet detail, but they clearly aren’t going to be good. The company has now announced the results, stating that it “is pleased to report” them and that “the new financial year has started well, with revenues in the first quarter ahead of those in the same period last year”. So what of a now 13.5p share price?

BDEV
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The obsession of the housing market and the reality for shareholders in Barratt Developments

As the CEO of Barratt Developments (BDEV) observed during the conference call earlier today, the company’s half year numbers showed a “very strong operational performance”. Compared to a year ago, total home completions rose by 6.9%, adjusted profits were up by 15.9%, return on capital employed was up to 29.6% and, whilst net cash fell just over 14%, it was still just shy of £970 million. Happy days then for a leading housebuilder with a market cap of just over £4.6 billion today? So why are the shares, which are up about 1% today as I write, down by more than 25% during the last year? Is it something to do with the “difficult housing market” also talked about?
SDY

Speedy Hire – argues “continues to perform well” and a “strengthened control environment”, But…

Tools and equipment hire and complementary services company Speedy Hire (SDY) has issued a “Financial and trading update”including that it “continues to perform well… revenue (excluding disposals) for the four months to 31 January 2023 up c.16% against the corresponding period in the prior year… continues to be confident in delivering underlying profit in line with its expectations for the full year”. So what of a current share price response down by more than 7% to around 39p?
BEN
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Ben’s Creek – an after hours share dumping stinker: the stench of Adam Wilson is everywhere

At 6 PM last night, nobody is watching O’ Clock, Ben’s Creek - CEO infamous Adam Wilson of Atlantic Carbon/Coal and Daniel Stewart disgrace - (BEN) announced that its largest shareholder MBU (main advisor the same Adam Wilson) had dumped 22,222,222 shares (5.92% of the equity) at just 18p. As with all share dumping by Wilson entities this is not what it seems and it stinks.
CBX
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David Beckham’s Cellular Goods Merger off – its now a full on cash crisis

The proposed RTO with Cannary Limited never made sense. Cannary – as fronted on nauseating TV ads with Claudia Winkleman – had a horrible balance sheet with huge liabilities and is burning cash. Cellular Goods (CBX)  has cash ( £4.37 million at August 31) but spunked it at £500,000 a month last year. So this proposed deal was like two drunks propping each other up. But now the transaction announced on 26 September is OFF. What next?
VRS
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Versarien – bad rumours from the USA

You thought that the savage redundancy programme at cash strapped Versarien (VRS) was all done and dusted? Perhaps it is time to think again. Rumours are arriving from the USA.
Oil-Rig

Compelling Is a Strong Word but could it Approach being Appropriate for the Big Oilers?

Hello share clinkers. This old punter rather mistrusts the word ‘compelling’. A lot of analysts like to say that one stock or another is compelling. But, of course, every recommendation has some arguments against buying. And the more reputable among our fraternity will raise the obstacles to success as well as the good points.
Bearcast
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Tom Winnifrith Bearcast: The economic illiteracy of the political class: BP and its $27.6 billion profit

The tweet below is from Labour shadow chancellor Rachel Reeves but I also cite Lib Dem leader Ed Davey for spouting equal tosh this morning. I start with BP (BP.) and windfall taxes. Then it is onto Tintra (TNT) with two more bombshell exposes today. My target price here is now officially 0p. Then it is onto another Dominic White, of the fraud Supply@ME Capital (SYME) infamy, MaxRets Ventures (MAX). En passant I mention DeepVerge (DVRG).
IXI

IXICO – next year “expects to achieve double digit revenue growth”, but what about this year and the bottom-line?

Medical analytics company IXICO plc (IXI) has issued a trading update commencing that it “reconfirms its revenue expectations of £7 million for the year to 30 September 2023 and announces that it now expects to achieve double digit revenue growth in the year to 30 September 2024”. So what of this currently helping the shares up to 26.5p?
TNT
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GOTCHA! Tintra: – the hidden multi million profit not recorded in Tintra Acquisitions accounts, time for HMRC to intervene?

Whilst we wait for Richard Shearer to respond to our questions posed in 4 exposes since Saturday or for AIM Regulation to show it gives a f*ck about maintaining an honest and orderly market, I present evidence that the Tintra Acquisitions Limited company number 13236378 is the relevant entity referred to in Tintra Plc RNS announcements. Maybe I should grass Shearer up to HMRC?
DARK
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Gabriel Grego calls out Darktrace CEO share buy for the spoooooooooooooof that it is

In the wake of Gabriel Grego’s superb expose on Darktrace (DARK ), HERE, CEO Poppy Gustafsson made great play, as part of her range of responses, in buying 48,000 shares. But that was a spoof as Gabriel pointed out on twitter yesterday:
SMRT

SmartSpace Software – emphasises “cashflow breakeven”, but is even that sustainable?

‘Smart’ buildings and commercial spaces software company SmartSpace (SMRT) has issued a trading update stating that it is “pleased to confirm that results for the full year ending 31 January 2023 are either in line or ahead of market expectations across our key metrics”. So what of a share price response currently up to 48p?
NUM
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Housebuilder chat is tomorrow, but today I talk about brokers (and specifically Numis)

I will talk more about the housebuilders tomorrow after the publication of an update from Barratt Developments (BDEV), whose shares I am not particularly surprised to see are up 11% so far this year but down 25% over the last twelve months. Meanwhile, I see the latest Halifax update is rambling on about that it is “expected that the squeeze on household incomes from the rising cost of living and higher interest rates would lead to a slower housing market, particularly compared to the rapid growth of recent years”. Hardly surprising…and today I want to talk about something different: current trading at the “independent institutional stockbroker and corporate advisor” Numis (NUM).
TNT
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Exposé No 4 in 4 days: Tintra — what on earth is going on with St Daniel House and Tintra Acquisitions?

AIM Regulation and Nomad Allenby appear not to care about the three exposes of Tintra (TNT) published here in recent days. So here is a fourth showing what a sewer AIM has become. St Daniel House, a former subsidiary of Tintra Plc is massively insolvent and owes former customers £1,467,511 and is effectively looking to offload these liabilities from the Tintra Plc group.
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