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Latest News

DCTA

Directa Plus – ‘first major commercial contract for Gipave’, “a significant validation”?

Directa Plus (DCTA) has announced “a significant validation of our product… asphalt for the A4 Torino-Milano motorway section, managed by the ASTM Group will be made with G+ graphene”. So what of a current share price of 87.5p, up more than 14% on this news?

VAST
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Groundhog Day: More cash delays at Vast so is it a bailout placing within 10 days or game over?

Oh dear, oh dear. This looks awfully like 2021 all over again but can Vast Resources (VAST) manage to side step a rapidly advancing Fat Lady for a second year on the trot. In 2021 auditors refused to sign off accounts for the year to April 30 2021 as Vast was deemed insolvent. Only a massively discounted placing arranged at the last minute avoided a share suspension as accounts must be out by October 31. This year things look worse.

ARB
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Argo Blockchain – off another 7% at just 11.25p – how is that 27.6p fund raise and the Deepverge bailout going? Deafening silence!

This is clearly a disorderly market. If the investor flagged up by Argo Blockchain (ARB) who was thinking of investing £24 million at 27.6p is going ahead the shares are dirt cheap as a trading buy. If not then, ceteris paribus, Argo will have gone bust by Christmas. It is a binary bet and Mr Market is telling you that it looks more like the adverse outcome than the positive one. But we can all agree the market is somewhat disorderly. So what the feck are the Oxymorons at AIM Regulation playing at?

IHG
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IHG is still excited about the future hotel market…but it should not expect me to book a luxury global Regent or Crowne Plaza room in 2023!

Many of you have probably stayed in an InterContinental Hotels Group (IHG) hotel. I am sure a bunch of you are fans of the Regent or Crowne Plaza options, but I am a bit more of a Holiday Inn sort of guy. As for the company’s shares, I have not owned them for years but, when I look at their performance over the last year, they are 10% or so below the c. 5000p share price average. How exciting (not).

PROC
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Procook Trading Statement – things can only get worse

I explicitly warned you to dodge the Procook (PROC) IPO at 145p less than a year ago. Today after a second quarter trading statement which saw frantic turd polishing the shares are just 35p. And, whatever the company says about Q2 trading, things are just not going to get better.

CHLL
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Massive Vindication for Tom Winnifrith No 2 - Chill Brands forces to restate results by FRC after TW intervention, letter in full

When I started exposing the fraud at Zoetic, now Chill Brands (CHLL) the shares were 76p. They are now 2.4p and, FWIW, running out of cash again so a sell. The other side fought hard. Seth Freedman - who had harassed Harvey Weinstein's victims for Harvey - was engaged by a shareholder to threaten, menace and harass me and also two other writers here and a PR girl who is known to be a friend of mine. Shame on Freedman and those who defend him like Evil Knievil. I was not bullied into silence and so, after the massive Worthington vindication earlier, here is another one a, a letter from the Financial Reporting Council.I complained to it about Chill's accounts. Hey presto, the FRC took action and - as you can see below - forced Chill to restate.

WRN
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Massive Vindication for Tom Winnifrith No1 – FCA takes Aiden Earley & the whole Worthington 5 to criminal court

Even the Mrs was laughing this morning as I reminded her of how investors in Quindell and a couple of other frauds I exposed lined up to crowd fund Aiden Earley as he tried (twice) to injunct me and force me to take articles down. We defied the threats  and those articles remain up to this day on this brave and courageous website and the trove of documents I dared to publish were all passed on to the FCA. The FCA has now charged Earley, his brother and 3 others, the Worthington 5, and they appeared in Court yesterday. As I scuttle off for a celebratory ouzo here is what the FCA states:

IGR

IG Design – trading “ahead of expectation”, but for how long?

Previously writing on gift packaging, celebrations, craft & creative play, stationery, gifting and related group IG Design (IGR), in June I noted that the shares were on the watchlist. What now following a trading update for its half-year which includes “strong trading… sales, profits, margins and cash flow are expected to be significantly improved on the same period last year, and also ahead of the board's expectation for the period”?

Bearcast
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Tom Winnifrith Bearcast - it is not all the fault of Liz Truss

I started with Ms Truss and how it is not her fault that the UK is in the mess that it is in. The entire media and political class is to blame. The it is onto Naked Wines (WINE), why action MUST be taken at the fraud Verditek (VDTK) and finally a long look at Amaroq Minerals (AMRQ) and a sort of look across at Kefi (KEFI) which also had news today.

G4M

Gear4music – half year trading update, how much of an achievement is ‘in-line with recently updated expectations’?

Previously writing on online musical instruments and music equipment retailer Gear4music (G4M), early this year I concluded bearishly with the shares just below 700p. They last closed at 107p, but are currently more than 5% higher today on the back of a half-year trading update – so what’s the situation now?

ARB
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Letter to AIM Regulation: suspend Argo Blockchain until it clarifies its financial position

Mr. Market is telling you that there is something horribly wrong at Argo Blockchain (ARB) and that could well be a looming insolvency. A company that really was going to raise £24 million at 27.6p as Argo promised it would on October 7 would not see its shares languishing at 12p to sell. I have written to AIM Regulation as this is, one way or another, a false market.

MADE
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Made.com and that battle for cash - now it is a mid-season sale

WTF is a mid season sale? In September Made.com (MADE) was pushing a "clearance sale" to those who get its spam. Last night I was invited to save up to 40% in a mid season sale as you can see below. I guess next month it will be a pre Christmas sale, then a Christmas sale in December before New Year sales start in January. In short every month at what is meant to be a premium retailer sees it act like a discount retailer. One wonders if the ASA would like to check out details of its supposed "hurry before its over" sales promotions as you can bet the ranch that the next hurry before its over promo is almost ready to go.

VDTK
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Letter to AIM Regulation & the FCA: why is this not fraud? Ref Verditek

I have written to both AIM Regulation and the FCA asking them to explain why Verditek (VDTK), the solar panels company chaired by Tory toff Lord David Willetts, has not – again- committed fraud. Surely there must be consequences or do the regulators think that crime should pay?

Newsboy
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On a busy Thursday, ignoring politics to focus on loads of corporate updates – Bunzl, National Express & Dunelm

I am so happy that today is a Thursday during the quarterly global corporate earnings season, which means I am busy looking at a hundred (and one) companies and can ignore the latest political “excitements”. And to think some people voted for the current PM, in a choice of two, only six weeks or so ago! Back to the corporate world and three UK-listed names which have published a few new thoughts today.

LUCE

Luceco – profit warning and is the likely overall customer destocking really “unchanged”?

Previously writing on wiring accessories, EV chargers, LED lighting and portable power products company Luceco (LUCE), in July with the shares at 111.4p I noted that the macroeconomic outlook could well result in further impacted demand rates and concluded continue to avoid. With the shares having last closed at 74p, what of now a “Q3 2022 Trading Update”?

DVRG
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Deepverge – shares collapsing, has bailout placing failed? Statement needed

Oh dear, oh dear, shares in Deepverge (DVRG) run by Gerry “the journalist trolling arse” Brandon have collapsed again today and are now just 2.25p bid, 2.375p mid. And to think that – as I exposed HERE – the company started its current bailout fund raise with Turner Pope trying to raise £9 million at 5p. Ooops. The arse assured us that the response from a roadshow had been positive but the share price today (off another 17%) suggests either frantic forward selling or that the placing is flopping altogether.

RBD
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BREAKING: Cathal Friel explains why the Reabold board must be sacked – back Cathal & sack the losers

Reabold Resources (RBD) now faces a sack the board resolution spearheaded by Donegal’s finest Cathal Friel. Friel has, in various share issuances, poured vast amounts of Euro into the company. He has skin in the game and he and fellow shareholders owning 6.93% collectively want change. They have had enough of failure being rewarded. As you can see HERE, we have exposed the charlatans who run this company before. And in response to the resolution, the charlatans are playing fast and lose with the truth once more. They say:

Bearcast
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Tom Winnifrith Bearcast: the old Etonian dressed as a Nazi, Lyin' Chris Cleverly, the chancers Tatnall & Longley - the party at Technology Minerals

In today's podcast I discuss coverage of my friend Richard Poulden and Valereum Blockchain (VLRM) which is now utterly toxic. I mention Wishbone Gold (WSBN) en passant. I look at Verditek (VDTK) where AIM Regulation must now step in to tackle fraud then at IOG (IOG), lessons from the demise of Toople (TOOP) and then an expose of the  events at Technology Minerals (TM1) where you really just could not make it up.

RBG

Revolution Bars – argues “exciting and transformative” acquisition, is it?

Previously writing on bars operator Revolution Bars Group (RBG), in August with the shares up to 15p I noted “pleased to announce” update, but how’s the net cash generation?. Now results for its year ended 2nd July 2022 and an acquisition.

TOOP
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Ouzo for the Sheriff, time for Richard Horseface to sing the ShareProphets National Anthem – Toople goes bust

With serial failure Richard “horseface” Horsman as chairman since its 2016 IPO, Toople (TOOP) has always been a disaster and I have always been a bear. The CEO changed regularly but the pattern of cash guzzling underperformance was always the same. Oh, and it also lied to investors as I showed most recently, HERE. That is never a good sign. Today the Fat Lady has arrived bringing a bottle of ouzo for the Sheriff as she gets read to sing with the loser Horseface.

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CTAI

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