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Letter to AIM Regulation – Versarien’s self confessed breach of AIM Rule 11
As it struggles to remain solvent, Versarien (VRS) has, in effect, admitted breaching AIM Rule 11 in its annual report. I have written to the Oxymorons asking for formal censure of the company and its loathsome CEO Neill Ricketts.- By Tom Winnifrith, the Sheriff of AIM |
- 2 March 2023, 11:21 |
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Letter to FCA – market abuse by Howard White regarding Powerhouse Energy
Following up on this expose HERE regarding the dumping of shares in Powerhouse Energy (PHE) by Howard White and his two sons I have written to the FCA asking it to investigate whether Mr White is guilty of market abuse as a result of market manipulation. I believe that without any doubt, he is.- By Tom Winnifrith |
- 2 March 2023, 10:08 |
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Haydale – Another Round Of Awful Interims As The Cash Runs Low Yet Again
AIM-listed Haydale (HAYD) – another graphene outfit on AIM besides the disaster that is Versarien (VRS) – announced interims to December 31 this morning. The company boasted adjusted operating losses of £1.89 million, to which my reaction is one of Warren Buffett: who do they think they are deluding – their investors, or themselves? The market was not fooled, marking the stock down marginally.- By Nigel Somerville, the Deputy Sheriff of AIM |
- 1 March 2023, 16:35 |
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Tom Winnifrith BONUS bearcast: Advanced Oncotherapy, 9 weeks from death & now a full blown death spiral in place AFTER today's £5m financing
Was there any insider dealing before a mid afternoon financing update from Advanced Oncotherapy (AVO). A 32% share price fall suggests that the Pope is also a Catholic. I discuss the new £4.975 million financing which still leaves Advanced only 9 weeks away from running out of cash and the full blown death spiral which cheats its way around par value rules but which will crush the share price.- By Tom Winnifrith |
- 1 March 2023, 16:18 |
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Xeros Technology – Director of Finance appointment; following recent lack of progress detail and EBITDA miss, good luck chap!
Xeros Technology (XSG) states that it is “delighted” to promote Alex Tristram to Director of Finance and Company Secretary, with he having “made a significant contribution to Xeros over his time with the company and his leadership and financial acumen make this a very natural appointment”. Er, what about the previous finance director though?- By Steve Moore |
- 1 March 2023, 16:14 |
Mobile Tornado – discounted subscription and debt conversion for “business development”?
Mobile Tornado Group (MBT) has issued a “Subscription, Debt Conversion and Trading Update” announcement including that its moves “will allow us to accelerate our business development activities further, with the recruitment of additional sales professionals in key markets and the execution of a much more intensive outreach campaign… and is now actively engaged with a number of potential new partners and customers”. So what of a share price currently approaching 5% lower at 2p?- By Steve Moore |
- 1 March 2023, 15:39 |
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Tom Winnifrith Bearcast: it is not Sunny in Wrexham it really is post industrial grim
On this St David's Day myself and little Jaya went to Wrexham and I describe just how grim it is. Do not believe the hype. Then it is onto Cellular Goods (CBX), Guild ESports (GILD), Anglesey Mining (AYM), Versarien (VRS), Canadian Overseas Petroleum (COPL) and Advanced Oncotherapy (AVO) where events have overtaken me requiring a follow up podcast which I shall do now.- By Tom Winnifrith |
- 1 March 2023, 15:29 |
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BREAKING: Advanced Oncotherapy shares collapsing – statement needed asap as the Sheriff vindicated yet again
The shares are now just 4.25p, down another 32% today. The bare facts are that Advanced Oncotherapy (AVO) is running on fumes. If it does not raise fresh funding asap the Fat Lady will be called in for an emergency gig very soon indeed. The problem, as we have noted many times, is that par value is 25p.- By Tom Winnifrith, the Sheriff of AIM |
- 1 March 2023, 13:44 |
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I am still a Reckitt Benckiser shares fan
I guess it depends how old you are whether brands such as Harpic, Vanish, Dettol and Finish have a lot more relevance for you than Durex or baby food ones, but at least the FTSE 100’s Reckitt (RKT) has a bunch of interesting global brands. I last loved the stock up just over four months ago and since then it has gone almost perfectly sideways. What are the group’s prospects like for 2023 (and beyond)?
- By Chris Bailey |
- 1 March 2023, 12:17 |
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Nexus Infrastructure – details tender offer and what’s the outlook from here?
Last month Nexus Infrastructure (NEXS) announced that it had completed the sale of its TriConnex (multi-utility networks) and eSmart Networks (renewable and electric vehicle charging infrastructure) businesses for £77.7 million and that “a circular containing details of… tender offer as well as a notice convening a general meeting of shareholders is expected to be published shortly”. This has now been published and so what of a current 162p share price, £73.8 million market cap?- By Steve Moore |
- 1 March 2023, 11:57 |
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Inland Homes from bad to worse
The stench at Inland Homes (INL) just ratcheted up to top gear with the shock resignation of all three of its non exec chairman Simon Bennett, Carol Duncumb and Brian Johnson as a stack of undeclared related party deals have emerged. That may well be one of the reasons why, yesterday, Inland warned that there would be a delay in the publication of its annual results.- By Tom Winnifrith |
- 1 March 2023, 09:48 |
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The delayed Versarien annual report part 2 – more heroic assumptions on the non graphene businesses
Finally the delayed annual report arrived yesterday allowing us to see what exactly cash strapped Versarien (VRS) was hiding in its abridged annual results. Yesterday I showed the wholly unrealistic claims regarding graphene which were made to avoid huge intangible writedowns. Now to the non-graphene businesses which is almost as ludicrous.- By Tom Winnifrith |
- 1 March 2023, 08:35 |
This Respected Outfit Supplying Loads of Drugs could Have a Healthy Future
Hello Share Takers. Medical companies are still high on my list of sectors that could outperform the market this year. A company I’ve not considered before but which has a healthy record is Hikma Pharmaceuticals (HIK).- By Malcolm Stacey |
- 1 March 2023, 08:34 |
essensys – states targeting “accelerated implementation of plan for profit and cash generation”. I wonder why...
Flexible workspace technology company essensys (ESYS) has issued a trading update emphasising half-year “Revenue growth of 18%, accelerated implementation of plan for profit and cash generation”. So what of a current share price response slightly lower to 57p?- By Steve Moore |
- 28 February 2023, 15:35 |
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Tom Winnifrith Bearcast: surely this is straight to jail, do not pass Go, do not collect £400
On the jail tack I refer to the clear market abuse scandal at Powerhouse Energy (PHE). I also discuss Ocado (OCDO), clearly a stonking short, Versarien (VRS) and the latest utter cobblers and tripe from Ben Turney's flip flop Kavango Resources (KAV). Ben, at least, provides a platform for some inappropriate Cheryl Cole analogies.- By Tom Winnifrith |
- 28 February 2023, 14:53 |
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Versarien Annual Report out: what it was hiding part 1 – the heroic Graphene growth assumptions supporting nil impairment
Finally, a week after publishing dreadful results Versarien (VRS) has published its full annual report for the 18 months to 30 September 2022. When this company goes bust, what it was hiding will be used to drag it and auditors BDO through hell and back, via the FRC. The main issue is goodwill and the balance sheet but there is also the pay rise loathsome Neill Ricketts was given.- By Tom Winnifrith, the Sheriff of AIM |
- 28 February 2023, 13:11 |
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Aquis Lobster-Potted TruSpine Comedy Continues: The £200k Arrives…..From A Third Party
TruSpine (TSP) - the spinal product shambles on the Aquis lobster-pot - told the market on 3rd January 2023 that a £200,000 bridging loan was “available immediately” but did not arrive in January at all…..or February. The company has now announced that a third party has stumped up £200,000 in addition to the bridging loan facility and non-binding letter of intent for equity financing. Oh, and the CEO has (or has been) resigned (but remains with the company). Red Flags for breakfast, anyone?- By Nigel Somerville |
- 28 February 2023, 13:09 |
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BREAKING: Powerhouse Energy – surely this is cut and dried industrial scale market abuse
Not revealing shareholding changes via a TR1 in a timely fashion should be a criminal offence but is not. It is – in my view wrongly - treated rather like picking your nose and swallowing the bogies in public, as naughty but not serious. And thus, the rules are widely ignored and abused. Yesterday Howard White and his two sons ‘fessed up to ignoring the rules with regard to dumping Powerhouse Energy (PHE) shares. But old Howard is also guilty, in this case, of market abuse. This is black and white and the FCA really should act.- By Tom Winnifrith, the Sheriff of AIM |
- 28 February 2023, 13:06 |
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BREAKING: Canadian Overseas Petroleum - the unexplained collapse in January output it is NOT telling you about
The bear case as outlined here is already compelling. But the table below from the Wyoming Oil & Gas Commission serves up data on Canadian Overseas Petroleum's (COPL) January output and that suggests an alarming decline which cannot be explained solely by bad weather.- By Tom Winnifrith |
- 28 February 2023, 12:06 |
CAP-XX – interims, for how long is the funding sufficient now?
Previously writing on company describing itself as “a world leader in the design and manufacture of thin, flat supercapacitors and energy management systems” CAP-XX (CPX), last month with the shares down to 3.4p I noted “current funding is sufficient for the company's expected needs”… For how long though?. Today results for the company’s half-year ended 31st December 2022… and the shares currently further down to 2.6p.
- By Steve Moore |
- 28 February 2023, 11:44 |