Tuesday 17 January 2017 | The one stop source for free breaking news, expert analysis, and videos on AIM and LSE listed shares
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Oh what tangled webs we weave, eh Mr Terry? Not distracted by the ongoing Serious Fraud Office investigation that will see him end up in jail, Rob Terry has a new venture. Natch it is one based on an old fraud but that probably won't deter some folks.
A couple of days ago I noted how the lamentable London Evening Standard had lifted a cynical bear story from five days previously without attribution and claimed it as its own breaking news. But the Standard is not the only lazy worthless paper on Fleet Street. We now have an even more blatant pinch and this time it is the Daily Telegraph in the dock. No wonder sales of MSM publications are plunging if they run stories that were reported elsewhere on September 27 as their own breaking news on 29 October? This is the tale of Quindell fraudster Rob Terry and his new vineyard funded by the Quob park ponzi.
Old jug ears got free shares in the fraud Quindell (QPP) as a reward for his role as "band ambassador" for the Ingenie outfit. That was the unit run by Richard King at whose lavish wedding in Somerset jug ears was best man. Lineker sold his shares netting at least £3 million so what to do with the cash? Give it all to charity? Naaaaaaaaah.
BBC presenter Sophie Raworth, picked up £10,000 for hosting the 2016 AIM Awards. Heck since this whole £750,000 event is ultimately funded by investors in AIM Casino stocks I am sure you won't begrudge her trousering some of YOUR cash. Anyhow here are the winners from the lavish 2016 ceremony:
African Potash (AFPO) has still not sued me as it promised to do for pointing out that it had committed wholesale fraud so that, in itself, is a tacit admission that it has engaged in fraud. The senior NED at Potash is Lord Peter Hain who knows a thing or two about supporting the work of fraudsters. Lets go back to March 2015 when Hain was still an MP and Quindell (QPP) was still called Quindell.
The annual report from Quob Park Estate, the new ponzi scheme of Quindell fraudster Rob Terry is out and is a cornucopia of his best tricks of greed and accounting fraud. It is a delight. Leopards do not change their spots.
Say what you like about fraudster Rob Terry, the man is a comedy genius. I am sure that when he does get sent to prison he will be providing entertainment for his fellow inmates in all sorts of ways. But away from the shower block one way will be as a comedian. Terry's latest commentary on the "blog" of his new ponzi, Quob Park Estate is a comedy classic.
The FCA is set to fine Cenkos over the Quindell fraud, the FRC has thanked me as it panned Quindell for fraud, and the SFO is making good progress on the Quindell fraud yet some morons still blame me for the penury they suffer as a result of ignoring our warnings that Quenron was a fraud. These fools really do believe that Rob Terry was a good guy and, unbelievably, are still trying to put me out of business. Step forward a troll on the ADVFN Asylum posting crap under the nom de plume NickyName.
Part of the Knob Park Group of ponzis run by Quindell (QPP) fraudster Rob Terry, before he is put on trial and sent to prison, Quob Park Solutions has recently published what are the most bonkers set of accounts in Christendom.
Sky News claims to have a source who says that Nomad and broker Cenkos (CNKS) is to be fined £700,000 by the FCA for its lamentable failings in the Quindell (QPP) fraud - Cenkos has now admiited that a probe is underway. Whilst I see this as another moment of vindication for my work in exposing that fraud it is simply not enough. The FCA is telling the City's banksters that turning a blind eye to white collar crime does pay. Its coke and hookers all round if this is the best that the FCA can do.
When Gotham City published its now infamous report on Quindell, a copy of which was sent to the FCA and the Serious Fraud Office, it was OVER a year later that any action was taken and this despite a high profile campaign against it by Tom Winnifrith Shareprophets and, to a far lesser extent, Dan McCrum at the FT which, in the case of Shareprophets, included many specific allegations of fraud and open exhortations to the FCA to do something about it.
It is no shock that the Rob Terry bar of soap caption contest produced a flurry of entries as you can see here which focussed in on a similar theme. Terry knows all about folks getting an unexpected shafting does he not? Soon he will find out that the Good Lord was right after all and that it is indeed better to give than to receive. Anyhow the winning caption is:
It appears that the answer to that question is yes. Terry has not only said he is going to do it but he has told the FCA how he is going to do it. And the chocolate teapots appear happy to let this continue. It is bad enough that Terry boasts that he made in excess of £30 million from the Quindell fraud, but it seems in Britain he can carry on stealing and no-one cares.
You could not make this up but fraudster Rob Terry is getting into crowdfunding working alongside Peter Shea, the boss of disgraced ex AIM Casino listed China fraud specialist Daniel Stewart (DAN). It was, of course, Daniel Cesspit that listed Quindell on a fraudulent prospectus and signed off of the fraudulent deals with TMC Southern, that conjured up entirely fictitious profits for Quenron in 2011. The SFO will sooner or later arrest Terry and he's going to jail, but it seems as if Shea is determined to implicate himself by association.
Watchstone (WTG), Quindell as was, has today admitted to the full scale of the Himex fraud - the Hassan Sadiq Rob Terry con at the heart of Quindell - full details are HERE. In light of this please supply suitable captions, in the comments section below, for the picture below in honour of Robert Simon Terry. Deadline: midnight Sunday.
With the Serious Fraud Office closing in on Quindell (QPP) fraudster Rob Terry and his gang, the round up of suspects is going to be made easier by the way more and more of them are pitching up at Rob's new ponzi, Knob Park. The latest gang member to join is Tim Scurry, a Canadian now embarking on his 4th venture with Terry.
I would like to say that Quindell (QPP) fraudster Rob Terry has Time on his hands but I imagine that using the words Time & Rob Terry in the same sentence might make him feel uncomfortable. Anyhow I am delighted to see that his new ponzi, Knob Park has at least, well in fact just, one fan.
I now conclude my four part series on Rob Terry's remarkable interview with the Sunday Telegraph with the most shocking part, his denial of all wrongdoing, off all known facts. Whatever his actual mental state, Terry sounds like a psychopath.
Anyone who uses the phrase "to be honest " or "I'll be honest" before making a statement is usually lying and that brings us to fraudster Rob Terry who uses that phrase in today's laughable interview with the Sunday Telegraph. One claim is that he made £30 million from the Quindell (QPP) fraud. Natch: Terry is lying as he does every time when there is a Y in the day he is speaking.
Rob Terry's interview with the Sunday Telegraph today really is a laugh a minute. Having noted how he things S&G got a bargain buying Quenron assets - a deal that has pushed it to the brink of insolvency, Terry then moves onto the AIM market. Rob is concerned about its standards of regulation. Fuck me this is ridiculous.
Non Executive Directors are meant to be there to keep executive directors in check on behalf of other shareholders. That applies if you are dealing with an honest CEO or a psycopathic fraudster such as Rob Terry of Quindell (QPP) infamy who now runs the Knob Park Ponzi. So which NED's keep the old crook in check?
The tawdry tale of fraud involving Canadian listed penny dreadful Biosign (as of 2 weeks ago bust) and fraudster Rob Terry is finaly drawing to a close. Terry has fessed up to the final chapter on his lamentable Knob Park blog.
Quob Park Health Limited was incorporated on 31 March 2016, but thus far there is no sign of Rob Terry being directly involved. Not on the surface, anyway, but digging a little deeper there are a few links. One wonders what is going on?
I have to date reported four companies to the Financial Reporting Council asking it to investigate accounts which I believe to be fraudulent and or misleading. So where am I with these four and what is the common thread?
The demise of Motive TV (MTV) & the Slater & Gordon (SGH) car crash were obvious triggers for some of the stupidest folks on this planet to talk shite on Bulletin Boards last week. On some threads (LSE Asylum Worthington WRN being a case in point) no trigger is needed for idiocy. There were numerous splendid entrants for last week's BBM of the week as you can see HERE but there could only be one winner.
We covered the total fraud that was Quindell's (QPP) dealings with Canadian listed company Biosign - a fraud the new management has tried to paper over - HERE . You will never guess what has happened now.
Quindell Financial Services is alive again! Yes the vehicle ex CEO Rob Fielding used to trouser a £2 million hidden bung is back from the dead. After having been struck off by Companies House on 17 November 2015 it has been restored back on the register of companies on 3 February 2016. Would this have occurred without Shareprophets persistent questioning of Lord Michael Howard on 21 November 2015 (HERE). Perhaps not as you shall see.
I exposed the massive panama pump fraud at TMC Southern and Quindell (QPP) back in August 2014 and Quindell/Watchstone (WTG) now admits I was 100% right - having first said it would sue me for libel. It would be appreciated if the new management might apologise for that. Now we have some answers as to why TMC has not been struck off despite now being late on THREE sets of accounts. Companies house and I have swapped emails.
The fraud that created nearly all of the fictional profits reported by Quindell (QPP) in 2011 was the panama pump involving Mark Ford's TMC Southern. I exposed it HERE in August 2014, got a fascist lawyers letter in response, and Quindell admitted that my allegations were correct in the summer of 2015. But still Rob Terry and his pal Mark Fraud are trying to cover up this ford. Check out Companies House HERE
Himex was the biggest fraud in the Quindell (QPP) Augean stable but until now the scale of that fraud totalling hundreds of millions of pounds has remained hidden because Himex has now FINALLY filed accounts. The company has now changed its name to Hubio Solutions Ltd and snuck out accounts - on my Birthday - which the Serious Fraud Office will just love. It is bad news for Rob Terry but also for Watchstone as it exposes the myth pushed by the bulls that its ongoing businesses have any value.
Yesterday Quindell (QPP) fraudster Rob Terry announced that his Knob Park vehicle had spun out a new subsidiary ( which is this still controlled by Mr 2+2 can = 5) , Quob Park Technologies and that "Quob Park Estate (the parent), along with its partners, will be providing advice around the company’s future development strategy, fundraising and corporate financing activities, including any potential IPO". Rob you are avin a bubble.
It was announced yesterday morning that fraudster Rob Terry’s Quob Park Estate Limited (QPE) had sold its entire holding in AIM-listed Imaginatik (IMTK) to a company called Quob Park Technologies Limited (QPT). The RNS went on to say that QPT is controlled by QPE – ie Rob Terry. But there is rather more to this than meets the eye, including some bizarre Companies House filings which see a shareholder called Quindell plc emerge in August of this year. Time for a dose of Tom Winnifrith’s mushrooms? Aciiiiiiiiiiiiid.
Fraudster Rob Terry's new outfit in Hampshire, Quob Park Estate, has been at it again - issuing shares on the same day at very different prices. No doubt the recipients of the confetti wll be delighted with their purchases.
I can reveal exclusively that class action lawyers Your Legal Friend has today sent its letter of claim to Watchstone Group (WTG) -formerly Quindell (QPP) - on behalf of an initial claimant group of 342 retail investors.
The Sunday Times today reports that the Serious Fraud Office has demanded boxes of documents and emails from Cenkos, the Nomad to Quindell (QPP) as part of its enquiry. Let me assist you Gents, for Cenkos actively worked to protect this fraud as the AIM regulation team knows full well. You see...I was inadvertently cc'd in on emails between Cenkos and the chocolate teapots.
We know that the old board at Quindell (QPP) serially mislead and lied to investors as it committed wholesale fraud. Most of that board is now awaiting arrest by the Serious Fraud Office. But now to the NEW board, I have today written to the FCA and AIM Regulation asking whether it mislead investors on August 5 2015 in a material way with regard to its Himex subsidiary
Twelve times, by email and by twitter I asked former Tory leader Lord Michael Howard of Quindell (QPP) why the new board was trying to bury evidence of the fraud committed by the old board by not filing accounts for Quindell Financial Services – the vehicle ex CEO Rob Fielding used to half inch almost £2 million in a sham deal with convicted Nigerian fraudster Andrew O’Dua. Lord Howard has now responded to THIS article and my question. Sadly his answer is er...not factually accurate.
The fraud at Himex was one of the biggest at Quindell (QPP) and the new board seems intent on burying the bad news. It has made bullish statements about the state of play at Himex knowing full well that it could not justify those statements. Now the unit’s founder Hassan Sadiq, a long term henchman and near neighbour of fraudster Rob Terry, has left the company. This whole thing stinks and the NEW board as well as the old now faces massive questions.
How much did the fraudsters at Quindell (QPP) pay - with ther folk's money - to their mates who owned the duff entity at Ingenie which was going to conquer the world? Remind me did Jug ears Gary Lineker make £5 million or was it only £3 million. How about Rob Terry’s pal Richard King? We always knew it was a load of hot air and now as the Serious Fraud Office prepares to swoop on Terry and others (not Jug ears, I stress) the new board at Quindell is quietly shutting down the fraudulent non-operations.
Thanks to an avid reader I have been alerted to a very interesting filing at Companies House from Quob Park Estate. Anoraks of the world unite at ShareProphets! It concerns the issue of 2,855,566 shares in Quob on 29 Dec 2014. The consideration was originally notified (see HERE) as being the ratio of Quob Park Estate Limited shares issued for listed securities to settle consideration value of £2,855,566 (with roll-over relief claimed). But a replacement filing now notes simply a cash consideration of £1 per share (see HERE).
We were told that the new Quindell (QPP) board were the honest guys coming in to clean up the mess and to help the Serious Fraud Office clear up the wrong dealings of the ancient regime. Yet evidence emerged yesterday that instead of doing that the new board including Lord Michael Howard is just trying to bury the evidence of theft from shareholders. I have written to Lord Howard and the SFO to alert them to this and ask why?
Featuring shares in Arcontech (ARC), Alecto Minerals (ALO), Altona Energy (ANR), Cap-XX (CPX), Patagonia Gold (PGD), Quindell (QPP), together with some share price targets.
The good news first. Subject to Court approval then shareholders in Quindell (QPP) will – thanks to the idiocy of the buffoons at Slater & Gordon – almost certainly be getting a special return of 90p per share in time for the New Year. Now for the not so good news. Don’t spend it all at once.
The last tweet was September 23. But Quindell (QPP) fraudster Rob Terry and his Knob Park ponzi are again tweeting promising news next week. Might this be an update on his discussions with the Serious Fraud Office or from fraud to farce, news about AIM Casino POS Daniel Stewart (DAN)?
They still don’t get it. The FRC has thanked me for exposing fraud at Quindell (QPP) and the former board are being investigated by the SFO as well (it can thank me later for the assistance I have provided). Yet according to some Quindell shareholders on the LSE Asylum I am the guilty party, the devil incarnate. And boy were they looking forward to my day in the High Court today…don’t tell the morons it is off as at least one admits to going along last time to cheer on my then opponent Aiden Earley. I would not want to stop a moron from wasting a morning.
With the Financial Reporting Council now having written to Tom Winnifrith to thank him formally for his work in exposing the multiple frauds at Quindell (QPP), the question arises as to how the oxymorons at AIM Regulation managed to ignore all the evidence they too were sent. Add to that the ongoing fiasco that is the ShareProphets AIM-China Filthy Forty (number 13 due to be booted off the Casino on Thursday) and there is surely a king-sized omlette on their collective faces.
A letter received today from the Financial Reporting Council confirms that it extended its enquiries into the fraud at Quindell (QPP) to take in a wider remit as a direct result of my action. I am thanked for this and it gets better still.
I am on cold turkey already. This was the last episode of the worst ever TV reality series ever – Life on Marbs. Surely even ITV cannot bring this rubbish back. Anyhow what happened in Marbs in episode 12?
As the Company’s House filings emerge more details of the various Rob Terry frauds at Quindell (QPP) emerge and the latest concerns Ingenie, the insurance company for whom Gary Lineker made £5 million. This is a panama pump. And it is black and white slam dunk, jail meriting, fraud, not for Lineker who is innocent of any wrong doing but for many others.
How I suffer. Just for you, dear reader, I have now watched the 11th episode of Life on Marbs, the new ITV reality TV show starring Quindell (QPP) fraudster Jon Stretton Knowles. And it was possibly the most toe curling episode yet. JSK’s bromance with a younger guy is going well and Jon is now going to the gym to keep in shape but worries he still looks old. So an ageing slapper with possibly the most leathery skin on this planet takes him to her Botox/plastic surgeon man.
At last YourLegalfriend has filed a claim on behalf of clients who lost money from owning shares in the fraud and claim that they lost money because Quindell (QPP) published lies in RNS statements. The shares are off a tad at 96.75p but one could view the RNS as good news.
Last year the clowns at Aussie keystone-lawyers Slater & Gordon (SGH) filed an annual report on 19 September. That was within the three months of the June 30 year end dictated by the ASX. This year, is there a Quindell (QPP) induced problemo? No Annual Report has bee published yet.
Finally in episode 10 of the world’s worst ever reality TV show, Life on Marbs, Quindell (QPP) fraudster Jon Stretton Knowles gets his end way with slapper Jordan. But as he “performs” she starts laughing. However he consoles her with a “I’ve been JSK’d” T-shirt. What a Gent. Meanwhile the world’s dimmest couple, Alex and Charles, finally split up. In Darwinian terms they were so well matched.
This company encapsulates the Quindell (QPP) story of serial fraud in the most simple of companies, a dormant £1 company with one share. Yet the three filed accounts are all wrong. The company is then acquired for £1,354,000 just two months after filing accounts showing a net worth of £2,501. Quindell then incorrectly disclosed the acquisition in its 2013 accounts. The new Board then writes off all the acquisition as goodwill. Finally, despite being owned by Quindell since October 2014 QFS is issued with a striking off notice as it's late filing the 2014 accounts and two Annual Returns. And it gets worse…more fun for the SFO as I now explain.
Finally the Quindell (QPP) fraudster Rob Terry has filed calendar 2014 accounts for his new vehicle Quob (known as Knob) Park Estates. Questions, questions.
The fraud Quindell (QMC) has now formally admitted – what I proved well over a year ago and the FCA & AIM Regulation opted to ignore – that Mark Ford’s company TMC Southern was used to create totally bogus profits for Quindell in 2011. In fact its £3.5 million fraudulent contribution – funded by a panama pump of shares – accounted for nearly all the stated £4.1 million profit. It seems that Rob Terry and Mark Ford are working hard to “bury” this bad news. It will not wash with the Serious Fraud Office.
Industry sources say that Rob Fielding, the former CEO of Quindell and until yesterday running the businesses bought by Slater & Gordon from Quenron is to step down with immediate effect.
How I suffer for you dear reader? I have just watched episode nine of the worst ever reality TV show, Life on Marbs starring Jon Stretton Knowles, the owner of the Quindell Country Club and a key player in the Quenron (QPP) fraud. To be fair to episode nine it was no worse than the previous eight.
Featuring shares of BMR Mining (BMR), Castleton Technology (CTP), New World Oil & Gas (NEW), Quindell (QPP), Teathers Financial (TEA), Water Intelligence (WATR), together with some share price targets.
Bloody hell I suffered, watching to the very end episode 8 of the dreadful ITV reality TV show Life on Marbs starring Quindell (QPP) fraudster Jon Stretton Knowles. The main theme of this episode was how uber-dim Marbs slapper Alex had shagged some himbo two days before her brain dead boyfriend Charles arrived from England. Would their relationship survive? Heck if the two do breed it is would be a move towards Darwinian species extinction. JSK was on fine form in this show as well.
It looks like Rob Terry and the old Quindell (QPP) gang are getting back together with news that Stephen Scott has been appointed as a director of Quob Park Estates. Of course, this being a Rob Terry vehicle there are one or two problems with the manner of disclosure...
Forgive me but in the excitement last week I forgot to keep you posted on episode 7 of the world's worst TV series, Life on Marbs, a reality TV show brought to you by ITV and starring Quindell fraudster Jon Stretton Knowles. Welcome to episode 7 and Jon (Tango to his mates) is planning a spectacular 35th Birthday Party. But...
A Quindellologist from the grim post industrial welfare safaris of the frozen North sends me this fasoinating Slater & Gordon number crunching. Suffice to say that S&G shares remain a stonking sell.
Via his new scam Knob Park Estates the Quindell (QPP) fraudster Rob Terry has sent out a new missive which even by his standards is a quite deranged piece of fantasy. It begs just so many questions and almost makes me want the SFO to delay his arrest so that he can keep entertaining us with such nonsense.
The August Edition of UK Investor Show Magazine is now live and the cover story explains why the fraudster Rob Terry of Quindell (QPP) infamy should, and will, go to prison. There are seven share tips from Tom Winnifrith, Zak Mir and Steve Moore and the ShareProphets writers answer the question "if you had to what stock would you bet the ranch on". Amanda van Dyke explains why she is still a gold bull and there's more..
Featuring shares of AFC Energy (AFC), Advanced Oncotherapy (AVO), Audioboom (BOOM), Quindell (QPP), Range Resources (RRL), together with some share price targets.
An eagle eyed reader spots that on ShareProphets there is a pop up advert for the new Quindell (QPP) with a short interview with the new head honcho at Quindell. Thanks for flagging this, as I had not spotted it.
I knew there had to be some drawback to being in Greece. At last I have found it. You cannot access ITV Player so I cannot discover what delights are in store in Episode Six of the truly dreadful new reality TV series Life on Marbs. How is the new business venture of Quindell (QPP) fraudster Jon Stretton Knowles – aka Tango – going? Are the more charity lingerie shoots and designer vaginas? However...
Featuring the shares of Clear Leisure (CLP), Feedback (FDBK), Paragon Entertainment (PEL), Quindell (QPP), Sovereign Mines Of Africa (SMA), together with some share price targets.
In episode 5 of the truly dreadful new reality series Life on Marbs, Lina celebrates giving up smoking by doing a lingerie shoot. Seriously you could not make this up. Meanwhile how is the new business venture of Quindell (QPP) fraudster Jon Stretton Knowles – aka Tango – going? You mean you were not watching last night's show?
I am meant to be offline in Greece but I log on and discover the flip flop Turney is writing bullish nonsense on Quindell (QPP). The lad should really stick to writing three articles a day about New World Oil & Gas (NEW). After yesterday's news from the FCA/SFO I discuss who goes to prison with the fraudster Rob Terry and where this leaves the shares. Those who dismiss YLF tend - like flip flop - not to have spoken to them and - as a result - not to understand what is going on.
Having closed last week at 93p, shares in Quindell plc (QPP) have risen to a current more than 97p following announcements of the appointment of a new Chief Executive and that the FCA’s investigation into previous statements made by the company has been discontinued. BUT…
This morning, the FCA announced it had discontinued its investigation into Quindell (QPP) with “immediate effect”. Quindell’s shares have rallied slightly on the news to settle at 97p, last seen, but how significant is this move for the company’s embattled shareholders?
I am grateful to a keen Quindellologist hailing from the Grim Northern post-industrial welfare safaris for this detailed re-analysis of the Quindell (QPP) restated 2014 results. It demonstrates the extent of the accounting fraud by Rob Terry and why he is heading to jail. It also shows how much trouble the saps at Slater & Gordon (SGH) are in and why its shares will continue to tank.
Yesterday I raised the issue of the Bahamas based market manipulators LOM Capital which had a 2.15% stake in Quindell after its RTO onto AIM on May 17 2011. Hat tip to a reader from the grim post-industrial Northern welfare safaris for taking this matter further but we are now left with new questions for the fraudster Rob Terry.
So what was Rob Terry doing hooking up with the Bahamas based financial criminals back in 2011 when he floated Quindell (QPP)? Answers on a postcard to the Serious Fraud Office (SFO) I suggest.
What you mean you missed epiosde 4 of the wost reality show in the history of TV, Life on Marbs? How could you? Because our boy Jon Stretton Knowles of the Quindell (QPP) fraud gang was again at centre stage. But before we go on I have a JSK revelation for you.
You'll need a subscription to downunder mag Australian Financial Review to read the story—an interview with Slater + Gordon chief John Skippen but here's the best part: the cartoon.
The Quindell (QPP) scandal keeps raining blows on AIM’s reputation, further calling into question how much longer this market can limp on in its current guise. At the heart of many long-standing complaints about AIM’s viability are concerns that the Nomad system of self-regulation is inherently flawed. AIM has never been able satisfactorily to answer how poachers can be expected to act as effective gamekeepers. The next revelations about the £5.4million worth of share payments Quindell made in early 2014 to its Nomad, Cenkos Securities, are hardly going to help.
One of the things that jumps out from the 2014 Quindell (QPP) accounts was the candid level of disclosure about the NIHL business. Rob Terry and the rest of the committing fraud squad would never have given this much info. Schoolboy errors all round from the Newbies. Bearing in mind that previously the first anyone ever heard of this shit was the investor presentation in June 2014 and that which we at ShareProphets subsequently pulled to pieces, the starting point has to be the numbers of claims.
This week’s disclosures by Quindell (QPP) have shown conclusively that the gargantuan body of work which started back in April 2013 by ourselves and colleagues at ShareProphets was on the button. Along the way there were allegations of securities fraud, accounting fraud, VAT fraud, insider dealing, market abuse in what is simply a staggering litany of revelations. The evidence was passed to the FCA, AIM Regulation, the SFO and others in a series of submissions going back to April 2014. Yet the FCA and AIM Regulation utterly failed to act on the evidence handed over. The FCA took until June of this year to open an investigation – we rather suspect because of a me-too response, once it was known that the SFO was involved and that the Financial Reporting Council (FRC) had been looking at Quindell. AIM has yet to confirm any actions beyond a spot of belated flag-waving.
I had a good chuckle at Ben Turney’s ShareProphets Translation Service piece (HERE) covering the formal statement issued by AIM Regulation regarding the biggest stock market fraud the UK has seen in thirty years, otherwise known as Quindell. I am not laughing now. Wednesday’s statement from AIM Regulation proves once and for all that it is just a sham designed to lure investors into a false belief that the LSE’s junior market is policed. It is a front, and an affront.
In the past seven days, 50,555 unique readers read 91,679 pages on ShareProphets. The circulation of the Investors Chronicle is c30,000. Shares is less than half of that. To our critics who think we do not count, we say think again. And here ae the ten most read stories. It is not just Quindell..
Heck I could not resist...a new Rob Terry, Quindell and Quob park video has been created to celebrate the SFO Criminal Investigation into the fraudster. Enjoy.
We all know about Rob Terry’s insider dealing in shares in November 2014 thanks to the shysters at Equities First Holdings. But that was small beer compared to the level of insider dealing had attempted to undertake in April 2014. His “get out of jail card” on that one came, ironically, from Gotham City Research.
With Slater & Gordon’s Chairman John Skippen noted to have described the due diligence on the company’s acquisition of Quindell's 'Professional Services Division' as “the most rigorous due diligence I have seen”, an Australian Financial Review article (as well as containing a bit disturbing, but brilliant cartoon) has reviewed why all the fuss? (see HERE) Is it all about “rumourtrage” and short-sellers? Er…
On Wednesday 5th August 2015 Quindell (QPP) fessed up to all sorts of frauds and the SFO admitted that it was starting a criminal investigation. In light of that I bring you two videos which shows some of us were way ahead of the game, and we are not talking about the oxymoron that is AIM Regulation here. The first is from August 5th 2014
In the results last week from Quindell (QPP) Lord Michael Howard and colleagues wrote down the carrying value of its two largest legacy businesses Himex and Ingenie by c£38 million but there is still almost £90 million of goodwill in the balance sheet for these divisions plus Solutions (non UK), i.e. Canada. Lord Howard you are dreaming. You are 'avin a bubble.
I previously updated on some of the damning litany of the past the 2014 results RNSs from Quindell plc (QPP) detailed HERE. The following looks at the state of play now…
On Wednesday it took more than 75,000 words across two 2014 results RNSs for the new management at Quindell plc (QPP) to attempt to decipher what had been inherited and they still had to admit “it is also possible that there are transactions into which the group has entered of which we are unaware”. The following details some of the transactions which are now described as having “unresolvable ambiguities in analysing the substance of”, some including where the commercial purpose has been unable to be verified…
Bear raider Evil Knievil yesterday announced that he had bought shares in Quindell (QPP) and claimed that the stock was worth 150-180p – his valuation is not that much different from that of the fraudster Rob Terry who has a 172p target. Both are talking complete and utter bollocks.
The fraudster Rob Terry of Quindell (QPP) infamy is a busy guy as he prepares for the inevitable dawn raid by the Serious Fraud Office as a precursor to a trial and a custodial jail sentence. His latest posting on the website of his new vehicle Quob Park is quite simply delusional.
Following the acquirer of Quindell's (QPP) 'Professional Services Division', Slater & Gordon (SGH), announcing that it had been notified that the Australian Securities & Investment Commission “intends to raise some queries” and that, having commenced a detailed analysis of the financial information to be provided to the Commission, two errors in the method used to report receipts from customers and payments to suppliers and employees by the UK business had been identified, we again warned on the shares (see HERE). The following updates with them now falling towards $3 following Quindell’s results release and news of a Serious Fraud Office criminal investigation...
I shall admit that the old fraudster has chutzpah but he has today welcomed the SFO Criminal Investigation into Quindell (QPP). He should not as it will see him going to prison. Anyhow via his new fraud Quob Park Estates he had today said he sees Quindell shares worth 172p (in your dreams my son), accused me (0p target) of being short when I was not (that is defamation your criminal tosser) and said he welcomes the SFO getting involved (that’s a lie). The statement from the crook reads:
When are you going to publish the Quindell book? I was asked this numerous times yesterday and having chatted to the pizza hardman Darren Atwater, we think that the answer is October. But what to call it?
We have been telling you this for months but the Serious Fraud Office (SFO) has just announced that it is investigating Quindell (QPP). Oh dear Rob Terry perhaps not a day for dropping the soap jokes is it?.
At the start of last September, Quindell (QPP) proudly trumpeted its court “victory” over Gotham City Research. As Tom Winnifrith repeatedly warned the company’s shareholders, this “victory” was a hollow sham. By taking proceedings out against US-based Gotham there was no chance any judgement could ever be enforced. This is why Gotham didn’t try to defend itself. Of course, what Quindell was far less keen to talk about was why it didn’t launch similar proceedings against a certain vitriolic (and now entirely vindicated) blogger…
In this part of the bearcast I go through all the frauds admitted to by Quindell today, the bungs, the lies, the non disclosures, the revenue recognition issues, the panama pumps. Most of this has been revealed on this website already but today Quindell fessed up. What we said abut Himex, TMC, Jon Stretton Knowles, the fraudster Rob Terry...it was all true. And that means that Rob Terry WILL go to prison for this. And so will others.
Someone at the London Stock Exchange has clearly broken out the cattle prod today and abruptly woken the AIM Regulation Team from its deep slumber. Wonders will apparently never cease, as AIM Regulation has actually bothered release an announcement concerning its miserable failure to regulate Quindell (QPP). Those in a more charitable mood might say “better late than never”, but we strongly doubt there will be many long-term shareholders in this group. ShareProphets’ handy translation service now fills in the gaps of what should have been an apology to all those caught out by this fraud.
You have to end on a high and so that is it for a while from me. Full stop. Unless Rob Terry is arrested (whch will happen at some stage), I am not filing here any more. Because it does not get much better than today. Quindell has just released its 2014 results and I am 100% vindicted now. And so there is a two part Bearcast. In part 2 (this one), I explain what next for shares in Quindell and Slater & Gordon. One more bearcast and it is ouzo o'clock.
We broke the news of the fraudulent reporting of transactions between Quindell PLC (QPP) in the era of Rob Terry, and Canadian near bankrupt penny stock Biosign on this website 200 days ago – today Quindell has blown C2.5 million to paper over this embarrassing mess.
Oh dear, Oh dear, poor old Lord Michael Howard, the former Tory leader, does not seem to be having terribly good luck with his Non-Executive Directorship career. To stumble into one Serious Fraud Office investigation (Quindell) might seem unfortunate. To stumble into a second (Soma Oil & Gas), which was announced yesterday, seems like carelessness.
Jeepers this is awful. How I suffer for you dear readers in watching this utter shite where the entire cast appars to have a collective IQ of less than 100. Anyhow in episode two John Stretton Knowles, the owner of the original Quindell (QPP) Country club as a result of the fraudulent Skylarks deal, is getting ready to launch his new business. I can spare you some pain.
Tom Winnifrith's most recent book, 49 Red Flags is dedicated to Mr Robert Simon Terry of the fraud Quindell (QPP). With the SFO and FCA now investigating Terry and Quindell, Tom's painstaking analysis was vindicated. The expulsion of Gate, Naibu and Sorbic from AIM further vindicated Tom's analysis. His most recent book is a guide to how to avoid over-promoted and fraudulent companies on AIM and the LSE. Order it today for immediate delivery of a FREE copy of "49 Red Flags".
Ok, a series where one of the stars discusses how she has a designer vagina may not be everyone's cup of tea but that is life on ITV's new reality show Life on Marbs. And Quindell fraud junkies should set their alarms for 9 PM tonight when the next episode goes live, staring Jon Stretton Knowles.
Last December I speculated that the biggest insurance partner of the fraud Quindell (QPP), Swinton, was set to cancel its arrangements. On 10th December newly appointed CEO Rob Fielding gave my critics much joy as he announced a new multiyear deal. Oh what a prat Winni is. The shares surged higher. Oh dear, the deal does not look to be multi-year at all unless 1+ 0 = 2 in the same way that 2+2 can = 5.
The quite dreadful new TV reality show Life on Marbs went live with episode one tonight. Its star Jon Stretton Knowles is of course a critical figure in the biggest UK stockmarket fraud of the past 30 years, Quindell. Its shares are 80% down and now suspended with investors having lost billions and the Serious Fraud Office, FCA and others are investigatng. No doubt JSK will be having a chat with the Old Bill soon. In case you missed the debut show...
Last week I had a feeling of déjà vu – it was the Quindell summer all over again. The harassment had begun and I was wondering why.
Shares in the biggest stockmarket fraud for 30 years, Quindell (QPP), are currently suspended at 124p valuing it at around £625 million on a fully diluted basis. But what is it actually worth? Some brokers are marking it down to 0p because of the suspension but it is probably not worth 0p – thanks to the folly of the Aussie prats at Slater & Gordon – but it might just be.
In the past seven days, 45,424 unique readers read 81,517 pages on ShareProphets. The circulation of the Investors Chronicle is c30,000. Shares is less than half of that. To our critics who think we do not count, we say think again.
From the makers of the truly appalling The Only Way is Essex (TOWIE) we have a new reality show out this summer Life on Marbs. Set in the Costa del Crime it features a bunch of men and women whose aim is to shag anything that moves, and who all appear to be rather light in terms of the little grey cells. And its big star is John Stretton Knowles, who may well soon be chatting to the Serious Fraud Office about his role in the stockmarket’s biggest fraud for 20 years – Quindell PLC. Not that ITV seems to know about that.
I was determined to look on the bright side on Slater & Gordon, or at least stick my head in the sand – metaphorically speaking of course. This is of course the Australian cousin of Quindell (QPP).
First the polite Steve Moore, the rather more brutal TW to follow. SM: Towards the end of last month I noted that as Quindell plc (QPP) had been in the news, the acquirer of its Professional Services Division, Slater & Gordon, had been in the spotlight in Australia – S&G eventually admitting that the Australian Securities & Investment Commission had been in contact with its auditor, though that “we remain very confident in the robustness of our accounting practices”. Hmmm…
Earlier today I cited the case of AIT and its FD Gareth Bailey as a reason why disgraced Laurence Moorse the ex FD of the fraud Quindell should rat on Rob Terry and plea bargain. I now bring to the attention of poor Larry, the case of Mark Woodbridge the ex FD of fraud Torex Retail.
The former FD of Quindell (QPP) Laurence Moore probably made less than a million quid after tax from the fraud. His boss Rob Terry made at least £30 million. Yet poor Larry is like Terry facing wipe-out fines and a good stretch as a guest of Her Majesty. I have urged him before to rat on Terry and the other big crooks to reduce his personal discomfort (think of the showers, Larry) but I now invite him to consider the case of AIT and its FD Gareth Bailey and to think again.
Nigel Somerville penned an excellent piece yesterday on Quindell founder Rob Terry's new fraud Quob Park and its confetti issues as it claims to grow its NAV. In this podcast I explore that further and have a number of questions for the fraudster Terry about how he is managing this vehicle. Needless to say its shares should not be touched with a bargepole.
I’ve been taking a look through a litany of share allotments by Quob Park Estates (QPE) recently filed at Companies House. Happily, we can now do these things for free (see HERE). I wonder who has been buying QPE shares, and why the variation in prices paid for the same stock on the same day? It also happens to involve listed stock in Quindell plc (QPP) and Daniel Stewart (DAN) and a mystery listed company (although I can’t help thinking that it is probably Quindell). And there is some, ahem, ‘interesting’ timing.
Now that Lord Michael Howard and I are such good mates I wonder if the ex-Tory leader would like to comment on the status of Quindell Financial Services as I have a horrible feeling that this may be another fraud involving ex CEO Rob Fielding.
In the past seven days, 49,934 unique readers read 89,803 pages on ShareProphets. The circulation of the Investors Chronicle is c30,000. Shares is less than half of that. To our critics who think we do not count, we say think again.
In order to create the momentous fraud that was Quindell (QPP), Rob Terry established 191 subsidiaries. Most traded with each other. Some were issued with Quindell shares which they then dumped to allow them to “buy” bogus services from other Quindell companies. Monies were borrowed and lent so that by late 2014 even Quindell could not keep track of what was going on.
A special class of Bulletin Board Moron is the denier who insists that is what is patently bad news is in fact good news. The suspension of trading in shares in Quindell and an SFO/FCA probe? Yup according to the Quindell Echo that was – on balance good news. Worthington no news is good news if you are a denier. As for Afren, possibly bankruptcy well that is a buying opportunity for the denier.
The most blatant and biggest (in relative terms) fraud at Quindell (QPP) concerns the TMC Southern panama pump which created 140% of the reported Quenron profits in the 15 months to December 31 2011. Lord Michael Howard has confirmed that the new board is aware of this monster fraud as are the SFO and FCA and other regulatory bodies. But to demonstrate the duplicity involved I bring you more detail.
Over the past two days I have written twice to Lord Michael Howard, the former Tory leader and now NED at Quindell pushing him to investigate the biggest (relative to reported profits) fraud in Quindell History, the 2011 TMC Southern panama pump. And today the good Lord has replied – the board is on the case! Hooray. The latest exchange of emails between myself and Lord Howard, a politician showing real integrity is below:
Oh dear, it seems as if the NBF’s of Quindell PLC, the FCA, are now investigating another huge misselling scandal in the legal profession and that as a result of this – and work being done by the SRA – either Quindell PLC or Slater & Gordon could be picking up a bill for £75 million or more. It never rains…
In an infamous Jeremy Paxman grilling (see below) Lord Michael Howard had to be asked twelve times to answer a very simple question. Yesterday I asked the former Tory leader a very simple question. A grubby ex politician seeking well paid post career sinecures might not answer but I hoped for better from the good Lord. So far I have not had a response. And so I have penned a second letter as you can see below.
Former Tory leader Michael, now Lord, Howard recently joined the board of Quindell (QPP) as a non-exec. The man is actually a Ned at about half a dozen little companies but I am sure that he is not a grubby ex politician using his good name to make a few bob in retirement but actually wants to help these companies move forward. And in that vein I have today written to him about the biggest – proportionate – fraud at Quindell, the 2011 accounts.
Slater & Gordon, the Aussie law firm that grossly overpaid to buy the bulk of the fraud Quindell (QPP) has seen its shares crash by 25% to just A$3.78 today as it has admitted that it too has accounting “errors”. The stock traded at A$7.95 on the day it announced the Quenron deal…We told you that the short trade had just moved on…
I have known for months and months and reported it here that the Serious Fraud Office had at least interviewed folk on Quindell (QPP). The weekend press suggests that the SFO is now formally on the matter, something that has massive implications for insider dealer and fraudster Rob Terry, Quindell and possibly for Slater & Gordon. This comes on a day when Quindell warns that its accounts will be delayed – oh dear, oh dear.
In the past seven days, 54,254 unique readers read 100,575 pages on ShareProphets. The circulation of the Investors Chronicle is c30,000. Shares is less than half of that. To our critics who think we do not count, we say think again.
I am reminded of an old story – I think as told by Alan Coren on the BBC Radio 4 show, The News Quiz – of a man who called the police in the dead of night to report that there was a burglar in his garden shed stealing his tools. He was told that there wasn’t much could be done about it as there was nobody available to attend. A few minutes later the man phoned back to say that it was alright now, because he had shot the intruder. Within minutes his house was crawling with armed police and helicopters swirled the sky above. The burglar was arrested, unharmed. Afterwards, the police chief said to the man ‘I thought you said you had shot him’. The man replied ‘I thought you said there was nobody available to attend’.
On 19 August 2014 Quindell (QPP) put a statement up on its website about someone it dismissed as a "blogger" accusing me - for it was me - of making it all up and promising shareholders that it would take legal action against me. A truly fascistic lawyers letter (in full below) from legal eagles Dorsey & Whitney arrived the same day. It demanded that by 4 PM that day (ie within hours) I must withdraw all artices, sign an apology drafted by Quindell and that if I did not that Quindell would seek an injunction and sue me for damages and costs. Fuck you Quindell, Robert Terry and Dorsey & Whitney, see you bitchez in court.
An easy spot the difference competition for the weekend. I give you the logos of AIM listed Quindell and the new Rob Terry fraud Quob Park Estates. Can you spot the difference? Enlighten us in the comments section below. My entry is:
Leopards do not change their spots and neither does Rob Terry. His business career shows a consistent pattern of fraud. And now - before he is sent to prison - he is playing with other folk's cash once again at Quob Park. Congratulations to ShareProphets reader Showtime for this post which explores a bit of what the old crook is up to.
In light of the recent news about internal, FCA and SFO enquiries into Rob Terry and Quindell (QPP) I was wondering if all those who threatened, smeared and bullied me for exposing this fraud would care to apologise? The most fascistic lawyers letter I got was from the top libel firm of Schillings as the fraudster and insider dealer Rob Terry spent £750 an hour -of shareholders cash - to try to shut me up. That letter can be read below.
Last November I wrote an article about a little known Danish software company, called the IT Factory. UK investors probably have never heard of this company, but if you are a Danish investor, you most certainly have. The IT Factory is Denmark’s most serious fraud case.
Oh dear, poor old Quindell (QPP). Following news of the FCA investigation and additional internal checks on Rob Terry’s accounting fraud, I can reveal that those plan ing a class action have now appointed a top barrister as they prepare to lodge a claim. This is an additional threat to the special dividend this fraudulent company had promised.
It’s not easy being an optimist on this sumptuous site. I am supposed to be surrounded by miserable shorters, who need to be pessimistic by the very nature of their calling. But the fact is that only few shorters write for ShareProphets. And when they do, they make their position very plain, so that you can take what they say with a pinch of salt.
As Quindell plc (QPP) is in the news HERE, the acquirer of its Professional Services Division, Slater & Gordon, has been in the spotlight in Australia…
The FCA is now investigating Quindell and Quindell itself is reviewing some of Rob Terry's dodgy deals. Terry should lube up and prepare for prison as explained HERE but instead the POS has issued a statement via his new fraud vehicle Quob Park which we translate for your benefit.
Shares in Quindell (QPP) have today been suspended on news that the FCA is now formally investigating and that Quindell itself is now investigating a host of other fraudulent related party transactions over and above the over-statement of profits. The fallout for Rob Terry, Quindell shareholders, ex CEO Rob Fielding and the other crooks in the cabal will be massive. Jail beckons for some. Daniel Stewart is in the merde as Quob Park will unravel. For me I am now 100% vindicated. Or as Rob Terry would have, it 2+2 = 150% vindicated.
Quob Park Estates the new vehicle of Mr Robert Simon Terry of Quindell infamy has just released a "research report" overnight on Quindell (QPP) which accuses the new board of hiding facts - most notably of hidden share options and staff departures - but also of destroying shareholder value in the businesses that remain. It also discloses that Quob Park has sold all its shares in Quenron though it argues that the group is still worth 172p (down from 210p). The document also tries to rewrite history. The sham of a note is below.
This is starting to become a regular occurance: ShareProphets prints a scoop; then time for lunch, dinner, a nice night at the pictures then bed, then a leisurely breakfast, a quick lunch, a long boozy dinner, and an early night in go by - and finally the Times comes out with its story.
Now here in the underground, we merely stoke the ShareProphets boiler - sourcing frigana poisons for Tom, inventing new Technical Analysis terms for Zak, flipping coins for Ben's opinion of the day, and oilling up Malcolm for his next Mr Cornwall bodybuilder defense - we serve the machine, but don't provide comment on the markets.
Short Slater & Gordon has been a cracking trade ever since it announced the purchase of Quindell Legal Services. For British bears the weakening of the overvalued Aussie Dollar has been a bonus. The maths are shocking ( and of course will get worse as the various Quindell frauds unravel).
The "Your Legal Friend" Group Litigation is now going ahead. It is now seeking formal signatories to press a claim and any Quindell (QPP) shareholder who has lost money investing in the fraud can sign up and try get their money back HERE - but this now raises a question as to whether Quindell's board can pay out the special c110p dividend it promised?
I am 100% sure that the reason Slater & Gordon boought Quindell (QPP) is because the Oz firm is going ex growth. It overpaid in order to justify its own ludicrous valuation. Now if you need evidence of what a total pup it bought, a source close to Zebra has contacted me at the hovel.
The highlight of the election was seeing Vince Cable, the man who has predicted 17 of the last 4 recessions lose his seat. What joy that brought. My cheers could be heard across Kalamata Bay as crazy old Vince was soundly thrashed in Twickenham. Of course it is personal.
At the AGM of the London Stock Exchange (LSE) tomorrow, Lucian Miers, Nigel Somerville and others will be quizzing it over the lack of regulation on its in house casino. I refer to AIM. So here is something I might ask and it comes from the fraudster and insider dealer Mr Robert Terry, formerly of Quindell.
In this podcast I start with a few words on Berkeley Mineral Resources and its quite amazing statement of yesterday (HERE). Hats off to Alex Borelli but why is no-one going to prison? I then go onto look at Slater & Gordon in light of a very interesting piece of research pubished in Australia overnight by Merrill Lynch on S&G post the Quindell deal.
Okay, we know that he committed accounting fraud, securities fraud and insider dealing. We know that the FCA and SFO are investigating him but perhaps the QPPSAG want to back Mr 2+2 can = 5, Mr Robert Simon Terry once again? Well I can reveal how to go about it.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details the shorted AIM shares (by net short position %) and if this position has increased (red), reduced (green) or remained unchanged (black) since a previous analysis HERE…
Slater & Gordon overpaid grotesquely for the Quindell (QPP) legal business but the Aussie company is now beginning to pick up the tab as the bears move in. Two of the bear pit panel at UK Investor Show are already short of Slater & Gordon as is well known Aussie bear raider John Hempton of Bronte Capital. Lucian Miers opens the batting for the UK bears.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details the most shorted shares (by net short position %) and if this position has increased (red), reduced (green) or remained unchanged (black) since a previous analysis HERE.
Happy Easter to you all. All except Rob Terry that is. In this podcast I end up discussing evidence I have of bribes at Quindell and what I shall be doing with it. I start with a demolition of both Mosman Oil & Gas and also the troughers at Kenmare Resources.
Shares in Quindell (QPP) were suspended for six hours today as it was caught out for once again having told investors a pack of lies. It seems that it has sold Slater & Gordon rather more than was announced on Monday. This is just a total joke of regulation – when is someone going to prison?
Shares in Quindell (QPP) were suspended for six hours today as it was caught out for once again having told investors a pack of lies. It seems that it has sold Slater & Gordon rather more than was announced on Monday. This is just a total joke of regulation – when is someone going to prison?
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details the 20 highest single net short positions and the changes (red if short increased, green if reduced) since a previous analysis HERE.
It has just been announced that Mr Rob Terry now owns 7.4% of Daniel Stewart. Is it THE Rob Terry, fraudster, insider dealer and crook? I explain why that Rob Terry owes Daniel Stewart a favour plus there is a follow up on Gulf Keystone.
At one level a triumph. Quindell threatened me with libel action becuase I accused it over overstating its profits ahead of and after its rescue bailout in November 2013. I accused it of fraud. It has today said those profits will be restated. It thus raised money on a fraudulent prospectus and folks should go to jail. Those who bought at 660p+ on the basis of those bogus, fraudulent profits and other lies should be demanding that Rob Terry be prosecuted becuase they will never get that money back.
For someone who has been completely wrong about the possibility of a significant cash offer being made for Quindell (QPP), I should be thankful that I haven't lost more money on my last short trade, which I entered into at an average of about 115p. I have previously made a considerable amount shorting Quindell, but it would appear to be more down to luck than judgement, considering the levels at which I shorted successfully from.
Slater & Gordon shares have just been suspended in Australia for 24 hours which means that an announcement for Quindell looms today and amazingly it seems as if it may well pay £640 million for QLS. What now for Quindell?
I am in a good mood today for two very good reasons (here and here) and I sense that this will endear me all the more to the Morons on the LSE Asylum especially on the Worthington board but also Quindell as we head towards PWC. Thus- in response to reader requests – with a deadline of Sunday midnight, Bulletin Board Moron of the Week is back.
In 2014 the esteemed firm of KPMG (Southampton office, three partners) started its audit of Quenron just after Christmas and by March 31 had done enough to allow Quenron to publish the 2013 results – less than three months and the job was largely done. When did PWC start work on reviewing Quindell’s fraudulent accounting policies? Early December 2014.
The competition as to who is the stupidest shareholder in Quindell (QPP) is an intense one with a crowded field but I think I have a winner from the ADVFN asylum, whites123, who has revealed his cunning plan to destroy myself and Waseem Shakoor. The sheer insanity of it all defies belief and involved Gate Ventures (GATE). Whites123 posts today:
My main podcast of the day starts with the fun and games at Quindell where it seems as if the quisling blogs are in retreat. I go over the maths again. I then look at Centamin as oer Gary Newman's piece earlier and how the Arab world has changed and how that must make us value stocks operating out there. Finally I look at how to deal with the microcaps on the AIM Casino.
If a quoted company issues a statement that misleads investors it and its executive officers are guilty of market abuse. Quindell (QPP) did just that yesterday and thus I have again written to the FCA asking it to launch yet another investigation into Quindell and its chairman David Currie and CEO Robert Fielding. Yes that is the same Mr Fielding who bought RTA for £68.40 in December 2014 and sold it to Quenron for £2 million a couple of weeks later. Quite why he has not been suspended by Quindell’s HR Manager Jill Harrison for that pending a full investigation defies belief.
Aussie law form Slater & Gordon must be getting pretty pissed at having to issue Oz RNS releases clarifying the lies issued by Quenron. Once again a Quisling journalist has made definitive statements about an offer made by S&G for Quindell’s QLS unit. The Quisling’s claims are preposterous but in clarifying Quindell does not deny them forcing S&G to publicly bitch slap. So this time, I recap:
In response to yesterday’s ludicrous story in the Sunday Times and a 30% hike in its share price Quindell (QPP) has again put out a misleading statement about its discussions with Slater & Gordon about QLS. I shall again translate this into English.
Just when you thought that our MPs could not sink any lower in talking complete bollocks as they engage in populist pre-election vote grubbing, they turn up en masse to surprise you with a new act of idiocy. Leading the charge on this occasion is the economic illiterate business secretary Vince Cable and the matter at hand is Quindell (QPP).
Given the sheer insanity of the LSE Asylum Quindell (QPP) thread last week and forthcoming Worthington (WRN) events and the denial among Afren (AFR) shareholders the competition is back but is limited to just these three stocks. Afren is a basket case the other two are fraudulent basket cases. Update: The Deputy Sheriff of AIM insists that postings on Tern (TERN) are deranged enough to be included.
As I contemplate the aftermath of a disastrous day of rugby (see here) this podcast covers Teathers Financial (TEA) pointing out a few home truths and then Quindell pointing out a lot of home truths in light of today's joke of an article in the Sunday Times.
Those following me on Twitter (through @WShak1) will have noted that I closed all of my shorts on Quindell at around 71p a few weeks ago. The trade proved to be a very profitable but, given my negative view of Quindell, it may have seemed strange that I closed at all. I hope I was clear on my reasons why, which were based primarily on the notion that I expected another "rampathon" by promoters that would allow me to re-open my short from higher levels. Aside from any argument over its merits as an investment, Quindell has proven itself to be extremely volatile and there is money to be made if one is confident enough to trade around the huge swings.
Folks dismissed the County Court Judgement against Quindell revealed HERE at the weekend as a one off but now I alert you to the fact that its ACH Subsidiary (for which it paid £31 million as part of the fraudulent RTA deal) faces a winding up order because it has not paid its bills.
Ahead of a day of doctors and lawyers I am doing a two part Bearcast today. part 1 of the podcast covers just two frauds: an analysis of today's news on Quindell and an update on the Worthington situation and Aiden Earley;'s injunction to gag me. I guess that gagging is not working so well is it Aiden?
On 20th November Quindell (QPP) denied that it was actively seeking to sell its 24% stake in Nationwide Accident Repair (NARS). Market sources tell me that Arden Partners has today placed out the stock.
Managing a company that has run out of cash is hard. You must delay paying bills until the last possible moment, keep the banks happy, try to generate cash however but in the end something cracks. If like Quenron you have net debt and are burning cash, you can stretch your average payment terms out to a disgraceful 122 days (and climbing) but in the end someone you owe money to takes you to court and gets a County Court Judgement (CCJ) against you. For investors this is a massive red flag.
Supporters of Quindell (QPP) and even Paul Scott – a neutral – have taken comfort from the fact that the MD of Slater & Gordon has said that there is nothing wrong with the QLS business model and take that forward to argue that a 0p target for the shares is unrealistic. Here is why they are wrong.
After working on reviewing the fraudulent accounting policies of Quenron (QPP) for almost three months – as long as it takes to do an audit – Quindell still cannot publish the PWC report. It promises that it will do so in “another few weeks.” The statement released today is a disaster but for those who need assistance I shall translate what it says into what it actually means.
On January 12th when giving its misleading trading update Quindell (QPP) commented on the PWC review into its fraudulent accounting policies stating:
On Monday 22 February the fraud Quindell (QPP) put out a statement that misled investors as to the status of its discussions with Slater & Gordon as to the sale of QLS. Slater and Gordon was forced to clarify the situation with its own statement. Shares soared on the Quenron RNS but retreated as S&G revealed the truth. As such this begs the real question as to whether David Currie, the chairman of Quenron and old pal of Mr Robert Simon Terry, is guilty of market abuse. I have written to the FCA today asking it to launch a formal enquiry.
For some reason Quindell (QPP) owning morons think I actually work at Free Speech & Liberty Pizza House. I do not - I work from Greece or Bristol. And so it is our staff that receive abuse from the morons. Take this charming email that Maribelle had to deal with today as she worked through a raft of genuine bookings.
For the second time Slater & Gordon has been forced to make an official statement to correct misleading statements made by Quenron (QPP). What planet is the fraud Quindell on?
The quisling blogs reported at the weekend that Quindell (QPP) has received a £700 million offer for QLS from Slater & Gordon. A statement from Quenron this morning gives hope to the bulls and the shares have shot ahead to 94p but I would not be putting the champagne on ice just yet.
Oh dear. Having yesterday suggested that 99% of Bulletin Board posters are sane and just 1% morons I appear to be getting some stick from our readers for being too much of a nice guy. I can’t win. With PWC looming for Quindell, insolvency looming for Afren and with the revalation of a fraud a day promised by me for Worthington, this week promises to see the loons in a true frenzy. Just remember:
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details the most shorted shares (by net short position %) and if this position has increased (red), reduced (green) or remained unchanged (black) since a previous analysis HERE.
Hats off to Morgan Stanley which has made a quick £2 million plus killing in four working days. It correctly identified Quindell (QPP) shareholders as being among the stupidest people on this planet and it has played them like a kipper. It is all perfectly legal and for this Robin Hood in reverse raid on the lobotomy and strong brigade, hats off to the banksters.
Minster Law is a York based law firm operating in the Personal Injury market and with 800 employees is a material player. And its results for last year are just out and are dire and that has a dramatic read across for Quenron (QPP).
In light of today’s disastrous news from Slater & Gordon the Bulletin Board Morons will be in a frenzy convincing themselves that this is great news for Quindell (QPP). I am also working on a Worthington (WRN) expose - in case you had not guessed it is a 100% fraud from top to bottom - so I sense that the morons will serve up some gems this week. Let us celebrate the best of them. Now I realise…
Chris Parrish is mad at us, ShareProphets, and he wants us regulated by the FCA. The petition uses our logo and, in a mere 478 words, calls out ShareProphets or Tom Winnifrith 11 times. Check out Parrish's petition here. It's a hoot.
My latest book is dedicated to the fraudster Robert Simon Terry, the founder of Quindell (QPP) and highlights 49 Red Flags, warning signs you should look for before investing in shares. Number 31 is excessive spend on PR and IR. To get your free copy of the whole book sent to you today fill in the form HERE - meanwhile here is No 31
Once again there were numerous entries which again demonstrated that some folk should not be allowed to be in charge of a piggy bank let alone trade in shares. You can see all the week eleven examples of lunacy on Quindell, Worthington and Afren HERE. As it happens there is a tie for first place with both nominations coming from Juicin Drumroll.
Long, long chats yesterday with a Liverpool lawyer and a helpful reader email allow me, I think, to explain why the underlying cashflow miss at Quindell in H2 2014 was in fact UP TO £85 million ( not the £45-60 million I had demonstrated). And I think the key to the miss is accruals and when Quenron started its Industrial Deafness push and how it accrues for it. This is a bit geeky but I believe explains the mystery in full. It has clear implications for the Rob Terry insider dealing case, demonstrates clear market abuse and also if one reads through to 2015 shows why Quindell is insolvent. I also try to explain why I have never had the surname Cochrane (sorry Quindell Quislings). And I cover the importance of the Tosca news.
Last week I stated that Maine Finance, a Quenron subsidiary which has racked up a £5 million overdraft so that it can lend money to other Quindell operations had basically stopped paying lead suppliers because the cash has run out. Thanks to information from someone incredibly close to Maine I can now give you the full story. This is symptomatic of what is going on across the Quenron group because there is no cash.
The detailed interim statement from Slater & Gordon out overnight throws into focus the depth of the cash crisis at Quindell (QPP) and how the bastards have serially deceived investors about this. This is really shocking.
Just last week Quisling Quindell (QPP) blogs like Betaville promised us that a bid from Slater & Gordon was imminent. Oh dear. More lies. Hard cheese morons. Slater & Gordon has just released its interims and they do not read well for Quenron.
In early January, after returning from holidays, I reached out to the press offices of both Waitrose and John Lewis—they keep separate press staff—to ask why they added us to their blacklist. For both, their initial responses were ones of perplexion.
The publication of material that you know to be untrue or misleading in an attempt to persuade folks to buy or sell securities is termed market abuse and is a criminal act and that brings me to the latest act of insanity by a Quindell (QPP) owning moron – the creation of the twitter account @tomwinifrith. You will note that it has only one n and so is not me but you could easily be forgiven for making that mistake.
It appears that the insane and deluded are now congregating on the boards dedicated to three worthless stocks: Quindell (QPP), Afren (AFR) and Worthington (WRN). And so for this week's competition, all posts must relate to comments made on those stocks and also on Mosman Oil & Gas just for fun. Note to Dom Cooper, nominating the entire output of Quindell Express or the QPPSAG does not qualify as an entry. Those folks will be dealt with at a later date. The deadline for entries is next Sunday. Post away in the comments section below.
You know that I am just a plain and simple nice guy. Well if you do, don’t tell anyone as I have a reputation to preserve. But as a nice guy I thought I’d drop a memo to the new team at Quenron (QPP), Jim “Hammer” Sutcliffe and Richard Rose about how to spin the looming disaster that is the PWC Report into Quindell’s fraudulent accounting policies.
My recent book 49 Red Flags serves up 49 ( its actually 50) signs that you should not be owning a given share. The book is dedicated to Rob Terry of Quindell (QPP) who serves as a case study for most of the Red Flags mentioned. You can get a free copy of the book sent to you today by filling in the form HERE. As a sample here is Red Flag 26.
A relaxed podcast recorded from the freezing garage where the Mrs has exiled me pro tem. On the agenda is the question of why pizza hardman Darren Atwater is as posh as me when taking this test, what counts as vindication on Quindell (QPP) and how you deal with ongoing attacks harassment and smears.
Quindell (QPP) now exists only because its banks have not pulled the overdraft. Each week a new crisis emerges as it struggles to pay all its bills. Reports are now coming to me from all over this creaking fraud showing how desperate things are. Today: Maine Finance Ltd.
I am sure that Laurence Moorse, the insider dealing finance director of Quindell (QPP) is now aware, as am I that the Serious Fraud Office (SFO) is now looking at matters Quenron and in that vein I have again written to the little crook urging him to save himself.
On Christmas Day I revealed how Quindell (QPP) CEO Rob Fielding had made £2 million for selling a worthless company established by him in December 2013 to Quindell a month later. This should have been declared as a related party deal – since Fielding is a PDMR – but it was not but was instead rolled into a £30 million deal involving convicted Nigerian fraudster Andrew O’Dua. I now have a new document which makes this look even worse – why has Fielding not been fired and the Old Bill called in?
Last week, websites supportive to Quindell (QPP) claimed that there would be a bid for QLS from Slater & Gordon by the weekend because its exclusivity deal with Quenron ran out on Friday. Quindell ignored that comment. Today, with its shares in freefall, it has in a raher panicked way “responded to press comment” and said exclusive talks are still on. So what does that tell us?
Heck it is free speech day for me every day. In today's podcast I look at Sefton, Quindell, Afren, Igas, ISG, Insectco, Ascent Resources, Mosman Oil & Gas, Mopowered & Outsourcery
I sense that a good number of shareholders in Quindell (QPP) also have stock in Afren (AFR) and Worthington (WRN). If the last of those three is ever unsuspended it is lining up to replace Quenron in my affections when Rob Terry’s creation goes bust. It truly is a POS built on sand. As such if you are hunting for a week 11 winner of Bulletin Board Moron of the week I suggest a good look at the Worthington threads might be in order. In terms of a week ten winner, the full list of rantings from the insane is here but the winners are:
Prabhat Sakya writes for Motley Fool and thinks that Quindell (QPP) is a good yield play on a PE of 1.2 and thus has sold his Barclays shares to buy more Quenron – words fail me. Just to show that morons do not obnly post on the LSE.co.uk I bring you Prabhat’s latest pearls of wisdom as a treat. It is a hoot. Do you think you kind find anyone thicker than Prabhat posting sheer lunacy on a Bulletin Board? If so please post those gems in the comments section below – deadline midnight 1st February.
It has been a quiet week on the Quindell (QPP) front although none of the ludicrous bull calls have come good: S&G exclusivity ended Friday and we were told that a bid would happen last week and that Quenron had lined up a big bank to advise it. Well …it did not happen and it will not happen.
Over the weekend I published my latest book, 49 Red Flags, how to avoid buying shares that will plunge. As a taster here are Red Flags 2 and 3, featuring Sefton, Quindell and Tern. You can get a free copy sent to you today by filling in the form HERE
Kevin Ashton was the analyst at Canaccord tasked with covering Quindell. When he handed in a note refusing to say buy or set a price target Rob Terry told Canaccord it would be fired as joint broker if it published it. So Ashston was fired. He is a feared analyst with a forensic mind and great integrity and he will now be speaking at the UK Investor show on April 18.
Having suffered two share price collapses in the last two years, it looks like Quindell (QPP) is setting itself up nicely for a third.
The prize is a free invite to the pre UK Investor pizza and drinks with myself, Evil, Ben Edelman and other speakers which takes place the night before the show (ie Friday April 17th.) Join us as we speak freely before the show. All you have to do is guess how much Slater & Gordon will pay to buy QLS. Now accept that there is an option ( which I am going for) that it will NOT BID AT ALL so as a tie-break please supply the date at which S&G announced either a bid or that it is not bidding.
As you know City guru 42 (I know who he is) is a famed Quenronologist and his Quindell (QPP) post on the ShareProphets comments section from this weekend merits a wider audience as it really debunks the idea that a fire-sale of QLS to Slater & Gordon will save Quenron. 42 writes:
Those who have ordered a FREE copy of my new book, 49 Red Flags, which is dedicated to Robert Simon Terry, the founder of Quindell (QPP), will be receiving their copy today. If you want a copy simply fill in the form HERE. As a taster of what it contains I bring you Red Flag 35, a failure to have truly independent Non Execs. It reads:
Quindell (QPP) has always been a slow payer of its bills. But we already know that it survives only thanks to bank overdraft. In today's BearCast HERE, I reveal how it has raised emergency cash to keep going with hidden asset sales. The other way of postponing administration is just to delay paying suppliers. The graphic below says it all. It is paying later and later.
In this podcast I pose some regulatory questions for Quindell and the Ministry of Justice regarding the resigning compliance officer Mrs Helen Cutler, I explain how Quindell made money buying a POS business from a convicted Nigerian fraudster ( and other rubbish deals) and I expose what has gone on with Mobile Doctors and Speedy. This is all very shocking.
And so a new twitter account has appeared in recent days @gothamresearch_ -you may have noticed it and thought this was real Gotham City Research. Boy have those bears changed tack. Er no…this is just Quindell shareholders breaking the law (again)
I exposed how Quindell is going to get rogered (at best) by Slater Gordon overnight HERE in this podcast I discuss how this accounting fiddle works, what it means for Quenron's (QPP) dire financial position, it really should be fessing up to that and has not and I also flag up that Gotham City Research is starting to wake up. For the avoidance of doubt the share price target remains 0p and the fact that the shares are up today shows nothing other than the insanity of man, the bear case has just got stronger still.
Oh dear, Oh dear if you are long of Quindell (QPP) you are going to take one hell of a beating tomorrow because Slater & Gordon has just issued a statement in Oz and it does not read well for the fraudsters and the morons. The shares should crater on this news. I do love the smell of napalm in the morning.
In this podcast special I look at the lunacy of tracking who owns what in Quindell (QPP). There seem to be all sorts of figures flying around. It is lunacy following this trail. More pertinently I look at the suggestion that the division for sale is QLS and that the purchaser is Slater Gordon. Two sources confirm to me that this IS the case, But before the morons start to celebrate I then go through the maths and that is rather less good news for Quindell. I also point out two new cases of how Quenron has misled investors in a material way.
As you know, ShareProphets reader 42 knows Quenron (QPP) better than most and as such his predictions on what PWC will say about the company are worth paying attention to. They make for terrifying reading if you are long. 42 posts:
Quindell (QPP) has had a good few days after it emerged that Toscafund, a UK hedge fund, holds 5.4% and upon the appointment of some fairly ropey NEDS, one of whom has already been involved in a mini scandal since he joined Quenron. The shares have tripled from last month's lows to value the company at £393 million, not bad for a concern whose founder has very publicly been involved in all kinds of fraud and skulduggery.
It is probably the least of the problems of the insider dealing fraudster Laurence Moorse at Quindell (QPP) but he really does seem to be in a spot of bother with Companies House over non-disclosure at Ingenie. What is Larry so desperate to hide?
On Friday the LSE.co.uk website updated its broker note coverage of Quindell with news that 4 big banks were bullish. That caused the morons to get terribly excited. There is just one problem…
Jim Sutcliffe is the deputy chairman designate of Quindell (QPP) and is also a Fellow of the Institute and Faculty of Actuaries and in that spirit I have written him a letter which was emailed over today. Let’s see what he says. But I pose a tough question or two for lucky Jim.
Richard Rose is the chairman designate of Quindell (QPP) In that vein I sent him an email yesterday. He has not replied. It reads:
The valiant corporate campaigners Gotham City called Quindell (QPP) brilliantly with its first report but has now said that its second report is out soon and that it will be slashing its 45p price target. Interestingly last time Rob Terry rebuffed Gotham as he tried to protect Rob Terry. This time will the new management fight to save Rob Terry’s reputation or will it just blame all the crimes Gotham uncovers on Mr 2+2 can – 5? But…
Shares in Quindell (QPP) have, to put it mildly, been extremely volatile as bulls and bears either buy in euphoria or sell in despair on every little snippet of news that is released. This morning, Quindell has announced the involvement of new "heavyweight" directors at Quindell, and the shares have shot up as a result as bulls have their day in the sun.
If it was not bad enough that PWC will be issuing a report eviscerating Quindell’s (QPP) fraudulent accounting policies and balance sheet it seems as if famed campaigners for truth and justice Gotham City Research is now about to re-join the party.
Quindell (QPP) is spinning for its life. I examine how it spins what is bad news. The only 2 guys it can find as new NEDS are proven failures. The trading statement is dire. Look at the miss on cash generation in Q4. And look at the real net cash position. This is woeful. The statement on revenues and earnings is telegraphing that PWC is going to be red ink City and the fact that there is no PWC until the end of Febuary shows how bad things are.
A bonus podcast looking at my two fave frauds on the AIM casino - naibu and Quindell. The former is now officially toast - a clear kill for me. The latter will be toast. I suggest a bit of chart watching and explain the striking similarities.
All things Quindell in this Bearcast. Congratulations to the morons. You are only 90% down now. Enjoy your day of gloating. Now back to reality and I deal with Tosca, The Daily Mail, PWC and have some more shocking revelations about Biosign in this podcast.
This is a small piece of accounting fraud by Quindell (QPP). It all goes back to Lava - Rob Terry's first big fraud. In a nutshell this shows how Mr 2+2 can = 5 ran Quenron with old pals and why there is so much worse to come.
Why, we were all wondering, did Quenron (QPP) loan CAN6.8 million to a near bankrupt Canadian software company? Reader Inevitgate has the answer. Shimple, so as to not have to admit that revenues booked in 2013 and 2014 were totally uncollectable and so face a P&L hit. Shimples. Great work. Here it is.
The title is self-explanatory. The contents of this podcast are most serious. hapless Nomad Cenkos can verify the lot or it can just admit that it does not give a FF about its regulatory duties.
Who is Phil? He is a big cheese at Quindell Legal Services. So why did he leave the Quenron (QPP) sinking ship so suddenly on New Year’s Eve – filings at company’s house show that his directorship was terminated on that date.
Why do share lock-ins matter? Let me explain and I do so with reference to Quindell (QPP) as this will be something that the Serious Fraud Office needs to examine either before or after Quenron goes into administration. I also have a few words for the motherfuckers at Schillings.
Well done Miserly Investor who provides another very plausible interpretation of the RNS today from Quenron (QPP). My own translation from bollocksese into English is HERE. But Miserly posts here on ShareProphets a very sensible comment. His second paragraph in particular is I believe highly relevant. Miserly writes:
Quindell (QPP) has today issued an RNS which is pure bollocks. Ever keen to help I am happy to provide a translation into English, something which shows both that the new board are as keen to mislead as the old and that this company is up shit creek without a paddle.
I endorse ETX as a spreadbetter because it allows you to short small caps in a way that other spreadbetting firms do not. I have had a number of folks saying they cannot short Quindell (QPP) with their spreadbetting firms. I have just spoken to ETX where you CAN short Quindell. So, folks SIGN UP HERE & PLACE YOUR BETS AT ONCE.
There are some new questions now in place for the chumps now nominally in charge of Quindell (QPP) following a bit of post-Christmas digging but also some oldies. As you know I regard this fraud as worthless and it is my number 1 sell of the year (HERE) but for any who are still strong, long and wrong here are ten questions you might want to ask your board. Or perhaps readers might care to post their answers in the comments section below?
Some of you may regard this as boring. There is after all, ALMOST, nothing written below that I have not written before. But I promised my top 5 shorts as part of my 10 tips of the year and Quindell (QPP) is my top short. Quite simply these shares are worthless. And so selling at 42p or whatever you can get is a sure fire 100% win. This is a “niller” at so many levels. Where do we start?
Even on a day with no news there is plenty to say. I start with President Petroleum in this podcast but then move on to look at EMED and Gulfsands Petroleum where there are similarities in terms of how failing management seeks to defend themselves from attack. And then, in detail onto Quindell where the silence is ominous re both Mr Fielding and also PWC where I hear that an interim report has been presented.
Bizarre or what? On 23rd December 2014 I put in a call to Mrs Helen Cutler of ACH Management Services Ltd, the Quenron subsidiary formerly known as RTA Management Services. This was the company that Quenron CEO Rob Fielding set up in December 2013 (costing him £68.40 inc VAT) and then sold to Quindell on 14 January 2014 for £2 million as part of the deal with a convicted Nigerian fraudster as revealed HERE on Christmas day.
Following the shock Rob Fielding revelations of yesterday, conversations with three current and former Quindell employees and some early morning reading of the Quenron (QPP) 2013 accounts, notably page 57, I have more shock disclosures about Quindell and its acquisitions and rather tough questions both for the fraudsters and for the bumbling incompetents at KPMG who signed off on such utter gibberish and obvious lies.
On 14th January 2014 Quindell announced the purchase of ACH and associated companies for £5 million in cash and 117,812,500 (pre consolidation) shares at 22.5p. We have pointed out before that ACH was 100% owned and run by a convicted Nigerian Fraudster Andrew O’Dua, something Quindell did not mention at the time. But now the spotlight falls on the associated companies and how Quindell CEO Rob Fielding made a quick £2 million.
After not one but two visitations from the ghostly figure of the grandfather of Christmas share blogging, Rob Terry was jolly glad to be back in his massive four poster bed. His faithful watchdog Cencord slumbered on, snoring loudly and oaccsionally licking his master's toes, but still young Mrs Terry had not returned from her girl’s night out and it was now quarter to midnight.
Yes it was all a dream, Rob Terry muttered to himself as he tried to banish thoughts of the ghostly apparition from his mind. He turned over to young Mrs Terry as if seeking confirmation. But she seemed still to be out with her girlfriends clubbing in Southampton. And she was not the only absentee from the marital bed.
It was the night before Christmas and all was still at the Country Club, Rob Terry called home. The great man himself had decided to call it a day early and was lying (as is his wont) on his enormous four poster bed. Young Mrs Terry had said that she was going out with girlfriends To S.Daddy, a new nightclub in Southampton and so Rob’s only companions were his two faithful poodles Canakos and Cencord who lay snoring at the foot of his bed.
There is not a lot happening so I look back on a couple of golden rules, golden red flags if you like from 2014. And I have an extra special Christmas present for a chap at Quindell. When should I run it to utterly train-wreck his Christmas do you think?
Daily Mail Readers are today lashing out at their paper for flagging up that Quindell (QPP) shareholders are signing up in droves to take a class action against the fraud and the fraudsters. This is a Great British Company, paying taxes, creating 4000 jobs and with £1 billion in sales they say. No it is not as I explain below & I speculate on how much Rob Terry and his henchmen have taken out of Quenron.
I am asked by a reader to speculate on what the PWC Report into Quindell (QPP) will say? I guess that the bean counters are almost done by now so IMHO here is what to expect.
Back on 9 September 2014 Quenron (QPP) announced that it had defeated the brave ad heroic campaigners for truth and justice known as Gotham City Research in a libel case. Of course like everything else Quindell announced that was not exactly true but what is happening now?
Via his PR I have asked Robert Fielding, the CEO of Quindell (QPP) questions about the sleeping arrangements at the recent Quenron management away day at a luxury hotel in the Lake District. No comment is the response. So I tried a different tack
Quenron (QPP) shares are now down to 32p. 0p or suspension or both looms and is coming soon. Even the dumbest fuck in the universe must understand that. But no, Tom Dobell at M&G and the posters on the LSE Asylum just reckon it is corporate governance or in the case of the latter it is all down to me. Today’s moron DMajor explains Quenron’s share price collapse by posting six sentences containing three howling spelling mistakes or grammatical errors and NINE lies about me.
What is it like being Laurence Moorse, the FD at Quindell (QPP) as it goes down the swanny. I asked a gentleman now FD of a successful AIM listed company but who in a former life was parachuted into a quoted entity that he pretty soon realized was a can of worms, to explain. The experience still haunts him. His recollection will give you some idea of what life is like in Fareham right now.
In light of today’s revelation that a Class action is heading towards Quindell, the fraudster Rob Terry and others I have just sent a friendly email to Terry, Laurence Moorse and folks whose firms may well become co-defendants in a class action suit: Peter Shea of Daniel Stewart, Bobbly Hilliam at Cenkos, Emma Kane at RedleafPolhill and Victoria Geoghehan at Bell Pottinger. Gents & ladies it is payback time...hope you all have good lawyers.
Law firm YourLegalFriend will tomorrow launch an initiative aimed at pursuing both Quindell PLC and its current board of directors as well as Rob Terry in order to get back the vast losses suffered by investors in Quindell.
If Quindell (QPP) was not in serious trouble with its Nomad Cenkos and facing an imminent suspension of trading in its shares it would have issued an RNS today. It did not. That deafening silence must set alarm bells ringing in the heads of even the dimmest of shareholders - are you reading Tom Dobell at M&G because that means YOU!
As ever the standard of entries was very high. As I sit here in a very much open Real Man Pizza Company I reflect on the poster who has it on “good authority" that RMPC has gone bust, unlike Quenron (QPP) where he is still “long and strong.” To read all 36 nominated examples of sheer idiocy click HERE. But there has to be a winner:
I am really trying to be helpful here to Quindell (QPP) because I am just such a nice guy and its Christmas and West Ham are almost safe from relegation and that sort of thing. And in that vein I have drafted a letter for Rob Terry to send to Ray Zimmerman, the boss of ZAI Corporate Finance. It reads:
Today Quindell (QPP) has admitted that it can only continue to trade because its banks have not (yet) pulled its overdraft. It had flagged up that mammoth writedowns of revenue unwisely recognised which was bogus and of goodwill is on the way. It has not explained why it bought a company from a convicted Nigerian fraudster for £30 million. And some folks think this is good news. For example…
What was Quindell’s (QPP) worst investment? It is hard to know. £2.77 million for Skillwise (sept 2013), a company with no assets bought by its previous owner the day before for £68.40 including VAT is a prime contender. The £150 million spent on the cash consumptive shite that is Himex must be another. But how about a luxury executive box at the Emirates?
Last week I revealed that Cenkos, the Nomad to Quenron (QPP) was letting it be known that it was going to quit as Nomad soon (HERE). The Sunday Times today reports that Quindell fall guy – acting chairman David Currie is scouring the City looking for a new Nomad, because without a Nomad the shares get suspended then – a month later – booted off the AIM casino. Our when will Quindell shares be suspended prize sweepstake is HERE The Sunday Times report states:
Today's Quindell podcast concerns Himex which, within the stable of frauds that is Quindell (QPP), is the biggest fraud inflicted on investors. There are two levels at which this is a fraud and recent actions by Quenron show how desperate it is to cover this up. All is revealed today
Thanks to Paulie Walnuts for this gem on Quindell (QPP). What on earth can it be trying to hide at Himex? The scale of the panama pump perhaps? Over to Paulie:
I guess the in-tray for Laurence Moorse, the insider dealing Finance Director at Quindell (QPP), is getting to be a little on the bulging side: folks owed £180 million by the cash strapped company demanding immediate payment; letters from the FCA, letters from AIM regulation, the PWC memos on his dodgy accounting and now to add to his woes …Companies House has confirmed that its on his case.
The chocolate teapots that are the SFO/FCA have prosecuted just 46 people for insider dealing and 29 have been found guilty and not one has been sent to prison. But the scale of Rob Terry’s Quindell crimes mean he should be the first. I suggest he face the maximum 7 year prison stretch and a fine of £19 million (fines can be unlimited) – the question is how many times has he dealt on inside knowledge.
No apologies but this Bearcast contains strong langauge. Fraudster Rob Terry has dumped nearly all his Quindell (QPP) shares. It is time for the morons to apologise to me as I am now 110% vindicated. I discuss lessons learned (other than do not mess with the Sheriff) and also what folks should do next. Start by apologising to me and my staff then have a measured go at Terry, AIM Regulation, Cenkos, Daniel Stewart, Canaccord and KPMG.
Rob Terry told the Quindell morons that he would buy shares at 180p. Today it was announced that he had sold c24 million of his 37 million shares at c40p. What more do you morons need to know?
What is happening at Quindell (QPP)? Blind panic is what is happening. That death is the outcome is now beyond all doubt, the only question is when and how. To win a bottle of freshly pressed olive oil from my Greek place enter our “when will Quindell shares be suspended sweepstake” here. This is fascinating as so many parties are involved.
Another big fall today and the end is surely nigh. Quindell (QPP) exists, pro tem, thanks only to the support of its banks, the fraud is there for all to see with custodial sentences on the agenda for Terry et al in 2015. When we wonder will the shares be suspended pending clarification? Let’s have a sweepstake. And there is a prize.
Sam Antar was the finance director at Crazy Eddies, the biggest Wall Street fraud of the 1980s. Sam avoided prison by turning Queen’s evidence (or the US Equivalent). And he has saved his soul by now making his career exposing other fraudsters. In the spirit of Christmas I have some career advice for Laurence Moorse the FD at the fraud Quindell. My letter to Mr Moorse follows.
I could not have put this better myself. Posting on the Motley Fool, the incredibly astute Waz Shakoor (who is short of the stock) explains it in the clearest terms. This is going to 0p. Hat tip to Waz who writes:
I have just had a Quindell (QPP) shareholder on the phone. Not any old shareholder but a veteran of class actions. I warn you KPMG, Rob Terry and Cenkos you are potentially in big trouble, this man is very serious and knows exactly what he is doing. Ahead of that I examine what happens next for Cenkos, Rob Terry and shareholders. It is not pretty. And I now have new questions for the FCA about the scale of Rob Terry's insider dealing.
All my work since I first used the word Red Flag in April 2013 has been vindicated. My scoops of this weekend on Quindell (QPP) have been shown as true - today's statement is a total disaster for Quenron. Bulletin board morons who abused and threatened me get your sorry arses round to Real Man Pizza today to buy a large pizza and expensive bottle of wine and give my fantastic staff a large tip to say SORRY. The following points stand out:
Quindell (QPP) insists that its suppliers and customers still have faith in it and that none at all have been spooked by its shares falling 90%, its founder Rob Terry being sacked and investigated for insider dealing and the fact that Quenron is paying suppliers ever later. Of course that is patent bollocks so Quenron tell us about Swinton?
Rain stopped play. I cannot record a movie. Anyhow I have a face made for radio and so this week's video postcard is an audio in which I set out the stark choices facing Quindell (QPP) directors tomorrow: prison or telling the painful truth.
On Friday I speculated that Quindell might have spent £30 million buying a business (ACH) off a gentleman who might have been a convicted Nigerian Fraudster HERE. I think we can now say that the Gentleman in question WAS ALMOST CERTAINLY the convicted fraudster. Give that ACH (now known as Quindell ACH) is regulated by the Ministry of Justice do you perhaps think Quenron might wish to clarify the matter?
Another day and Quindell (QPP) sprints towards the precipice once again. The man who called a Quenron a fraud and worth 0p first was Tom Winnifrith. The fact that he was able to make such a call was down to his understanding of accounts and what to look for. In his best selling e-book, The 49 Golden Rules of Making Money from Shares Tom outlines some of what to look for in any company, the red flag alerts and the plus points as well. And we have 50 more copies of that book to give away today. To get your book sent to you today, just fill in the form below
The stand in bosses of Quindell, The captains that will see the ship go under are Mr David Currie and the insider dealing Rob Fielding. Together with the insider dealing Finance Director Laurence Moorse they know that cash is well below market forecasts and that profits forecasts will not be met because there are gargantuan write-offs off goodwill and bogus revenues looming – that I proved today HERE.
In the wake of the exit of Rob Terry, the Quenron (QPP) CEO Rob Fielding communicated with CEOs of companies within the Quindell Empire and other senior staff and my whisteblower was in on what happened and the admissions are wholly at variance with market forecasts – this is damning.
Today's revelations on Quindell (QPP) are shocking. How do the Morons feel now knowing about the wage deferral, that they were mislead about the cash position on October 13 (market abuse) so they bought shares and Rob Terry, Laurence Moorse and Steve Scott were able to sell. How do they feel about that? You guys were suckered. Now you need to stop getting angry with me and start directing your anger towards a board that has stolen your cash.
Market abuse covers many sins but one is to give a misleading impression of the value of securities as a result of false statements. Quindell had told investors that it would achieve cash breakeven in Q3 2014. In fact it managed to beat this target thanks to a number of covert measures which hid the true picture. This is market abuse (FCA) but also a breach of AIM Rules. I have therefore written to both the FCA and AIM Regulation and cc’d in the hapless chumps at Nomad Cenkos demanding an urgent investigation. I write:
I was contacted yesterday by a senior management figure with the Quenron (QPP) group. We spoke at length and in part two of this series I will serve up a series of bombshells for you. But let’s start with a minor bombshell – the issue of when Quenron staff have and will get paid and of market abuse by Quindell.
I wanna tell you a shtoree. And it involves your favourite fraudulent AIM listed firm Quenron (QPP), £30 million and a gentlemen called Andrew O’dua who is a British Nigerian er…entrepreneur.
Today Quindell (QPP) has announced that it has issued c100,000 shares that it should have issued a few months ago to the vendors of Iter8 a POS Canadian company it bought last year. The company was founded and run by Mr Tim Scurry whose CV is fascinating. Yes its hand-outs for a Rob Terry mate par excellence.
This is a very simple one for you all. I would like you to explain who Andrew Femi Odoula is? I know and have put calls into the PR firm now representing Quindell (QPP).
When will these thick bastards realise that what happens to my business will not alter the fate of Quenron (QPP)? I keep accusing it of fraud and lying and although it blusters it will not actually sue me for libel because it is a fraud run by liars. And it will go bust. So as the Morons watch their life savings disappear here are a couple of things that they do.
Quindell (QPP) shares fell sharply at the close today thanks to reports that a respected trade body was warning its members that Quenron might not pay its debts. Quindell now needs to put out an urgent release at 7 AM and here is what it needs to issue:
It is 13 years to the day since the fraud Enron went bust. Right until the last it insisted that it was in rude financial health. Ditto Quindell (QPP). But some of its trade suppliers are not so sure. The National Association of Bodyshops has today explicitly warned its members of the dangers of doing business with Quindell.
Are these folks certifiably insane or is this parody? You really just do not know these days but this post has it all: a blinding faith in Rob Terry, total lack of historic knowledge, ludicrous bid story, technical analysis, total innumeracy and the Harriet Green to be CEO story. Could this be the most brainless Bulletin Board Moron yet or is just an attempt at humour. Given how many loons here are out there I suspect the former and Jerry2Toes is the Bulletin Board Moron of the day. From the ADVFN Asylum I bring you:
Quindell is unravelling at a rate of knots. Once the biggest stock on AIM probably will not exist by the time of UK Investor on April 18 2015. And the man who exposed the lies and fraud was Tom Winnifrith. For his efforts he received bullying lawyers letters from Quindell and death threats from its shareholders. And that has spurred a special new session at UK Investor 2015.
Quindell (QPP) shares have dived again today to just 57.75p. Remember when they were 600p plus and all those analysts who now refuse to tell you to buy said that the shares were worth £10 plus? Oh Daniel Stewart, Canaccord and Cenkos where are you now, you bent motherfuckers? The questions today concern the lack of buying.
Infamous bear raider Evil Knievil was the guest speaker at the ShareProphets seminar on 24 November and did not hold back with his views on the market, a stock that he views as a slam dunk short and Quindell whose boss Rob Terry was described as a fraud. The video of Evil can be viewed below.
I kid you not, someone has just started a thread on ADVFN Quindell the next ten bagger. The Quindell(QPP) morons are in full cry today convinced that a 1p rise in the share price discredits “the blogger” completely and shows that they are on their way to untold wealth. WRONG. Rob Terry is sitting on £7 million because he’s dumped stock, the morons are heading for poverty. So what do you call a group of Quindell shareholders, we asked for your suggestions for the collective noun on Saturday.
Just a short podcast setting the record straight on some of those smears against me by Quindell morons - no doubt assisted by the company. And also asking who really has lost credibility here?
Well I can’t say that Quindell’s attempt to get a summary judgement on this little matter is going terribly well. I bring you in full the judgement of Judge Travis J Laster from 14th October 2014. You can draw your own conclusions but I put it to you that it provides little encouragement for the morons.
A group of Lions is a Pride. A group of Sheep is a Flock. It is a troop of baboons. It is a destruction of wild cats, it is an implausibility of gnus and a storytelling of Ravens. So what do you call a group of Quindell (QPP) Shareholders? Reader Chris suggests “a catastrophe” or a “mugging” “a catastrophe of Quindell shareholders” has a good ring to it but perhaps you can do better? Post your entries in the comments section below, deadline is midnight Sunday.
The stench of fraud, corruption, lies and deceit at Quenron (QPP) is now obvious to all but the biggest moron. In their desperation the shareholder morons (assisted by Quindell itself) throw ever nastier and more misleading rubbish at the critics, notably me. My response, I am not flinching I fight lies and smears with proof of FRAUD. Let's reveal another scandal at Quenron. This will horrify you. Meet Overland and meet Jason Cale.
I have not looked at a subsidiary account at Quenron (QPP) for a while but just to save the SFO/Administrator some work in due course here’s another one, Isaas Technology Ltd a company bought in March 2013 for £4.5 million in shares. Hmmmm.
Quindell (QPP) denied on Friday that it had lost a contract with a leading North West based Claims Management Company. Hmmmmm. In this podcast I look at the nature of what that contract originally meant and why the contract has not been terminated (yet) but what is really going on. The reality is that the cash crisis at Quindell and the need to fiddle its stated cash position is forcing Quenron to take actions of which investors have no idea. Let me enlighten you all.
Yesterday afternoon the poodles at iii ran a story claiming that Quenron (QPP) had lost a major contract and stating that there was a real cash crisis. Quindell has responded with an RNS which is bluster and reeks of panic. The statement reads:
The poodle reporters on Interactive Investor have hitherto not dared to annoy their readers by criticizing Quenron but even a poodle has teeth and today it has reported that Quindell has lost a major contract and – worse – cannot pay suppliers until the New Year. In other words tits up time looms. Hooray! That will be another celebratory Metaxa for me please Eleni. So when does the RNS arrive. You vote – deadline midnight UK Time, 2 AM Greek Time.
When Canaccord was ramping Quindell with its crap research notes it was happy for them to be plastered all over the internet. It fired analyst Kevin Ashton who wanted to say sell and ignored his dossier on crimes at Quenron as it just wanted to earn vast fees and commission for acting for Quenron or raising cash for it. How times have changed.
RMPC is a private company and so feels no need to report bogus profits to ramp its shares like er…Quindell (QPP). It will make no difference to the fate of Quindell (insolvency) whether RMPC survives or fails. But since some utter moron (Goldust88 from the LSE Asylum) has posted highlights of our August 31st 2013 accounts raising six red flags about me, which other cretins have plastered on other asylums, I might as well respond.
First thing today we heard that hapless (soon to be ex) Quindell (QPP) finance director and insider dealer Laurence Moorse had received a margin call under his Equities First Holdings LLC shoddy share sale/loan deal. Larry did not met the margin so officially said goodbye to 20,000 shares. After hours it was revealed that fraudster in chief Rob Terry had made the same call so waving goodbye to 8.85 million shares.
It seems perfectly possible that by the time Quindell (QPP) gets to having its books audited in February/March it will have run out of cash (see mounting evidence of that from D&B and elsewhere in today’s Bearcast HERE) but let’s assume, generously, that it is solvent then – what happens next?
Well here you go. You will note the lack of any earnings forecasts. This is a total climbdown from Canaccord on the company that just six months ago it was trying get a Full Listing for. It was also trying to help Rob Terry flog £30 million of his own shares as recently as April. A link to the full note is below.
Canaccord has not only quit as broker to Quenron (QPP) but it has now withdrawn its forecsats, buy stance and target price. In a note packed with red flag alerts it says its stance is “under review”. As I explained here the other day that means SELL! The note reads:
Kevin Ashton, the analyst that Rob Terry of Quindell (QPP) forced Canaccord to sack because he would not advise investors to buy the shares, last night predicted that Quindell would go bust as more details emerged on the note that Terry managed to supress.
We already know that the FCA is investigating Rob Terry, Steve Scott and Laurence Moorse of Quindell for insider dealing – they are clearly guilty in that they sold millions of quid’s worth of shares knowing that join broker Canaccord had quit but without letting the market know that. But now I also accuse CEO Robert Fielding of insider dealing and wonder if this is why Canaccord quit on October 21st. I have written to the FCA (and cc’d in AIM Regulation as well as the chumps round at Cenkos) asking that the FCA widens the Quindell insider dealing enquiry to include Fielding.
Once again we enjoyed an amazing raft of entries showing the lunacy of some folk – you can see the full selection HERE. But there could be only one winner and if CG79 wants to contact me to get a bottle of wine, I congratulate him or her for this spot from the asylum that is “RNS posts signed off by Cenkos” –this is a classic.
Dear Rob, I have a very simple question for you regarding your shareholding in Quenron (QPP) and your shoddy deal with Equities First Holdings LLC.
Will this be the final week of Quenron (QPP) as a listed company? It may well be. And so this might just be the last Quindell Bulletin Board/twitter moron of the week competition. It has been fun while it lasted! As ever there is a bottle of wine as a prize for the person who can spot the most idiotic Bulletin Board post or tweet by a Quinnovation Group Shareholder. As ever
Following on from comment in today's Telegraph I reveal the truth about the NARS stake and discuss all the signs that the company is behaving is if it is on the verge of bankruptcy. I ask a question of Canaccord about a rescue placing and note how Quindell (QPP) can string things along for a while and what it needs to do to come cllean and tell the truth for once.
Lets nail this Roble issue in a short podcast. The hedge fund shorted Quindell (QPP). There was a deliberate event to avoid transparency which I argue is wrong. But no laws were broken. The laws need to change. On the other hand Quindell and its Board have broken numerous laws. That is the issue. Bulls keep playing the man not the ball. It will not save Quenron
As noted earlier by Tom Winnifrith, the identity of Roble S.L. (as well as other shell companies Fest N.V., Blau GmBH and Fresco S.R.L.) has been revealed (as being the work of New York hedge fund giant Tiger Global). The following looks at how its FCA-declared UK shorts have performed and its currently disclosed short positions here.
So far my cunning plan to help Rob Terry get as much cash as possible before the Quindell (QPP), cough, cough consultant goes to prison is working brilliantly. I advised him to resign HERE and he duly took my advice. Rob I have already accrued a £10,000 consultancy fee for that can you be a good fellow and post me a cheque with a small portion of your ill-gotten gains. Now what next?
As I was sitting on the bus down from Athens to Kalamata a few lines came to me and so back by poular demand here is the third Quenron (QPP) downfall video. The share price was 138p with Downfall One HERE, 69p with Downfall 2 HERE and now it is time for the third in the series. Enjoy.
According to the Daily Telegraph, the London Stock Exchange has begun an investigation into Monday’s share price fall of Quindell (QPP). Specifically, the Telegraph believes that the LSE, and by extension AIM regulation, is going to examine whether or not the company withheld price sensitive information, when broker Cannacord Genuity submitted its notice of resignation on October 21st. Given the market reaction to this news on Monday, when Quindell finally bothered let its shareholders know this slightly important little titbit of information, it is probably fairly safe to assume that Cannacord’s notice of resignation was price sensitive.
Quenron (QPP) owns 24% of AIM listed National Accident Repairs which is a good company, well run by a solid management team and which HAS DONE NO BUSINESS AT ALL WITH QUINDELL. It is not tainted by the implosion of Quindell or by its frauds but Quindell is at death’s door cashwise. We have it fully sourced that Quindell has been touting its stake (nominally worth c£8 million) seeking any offers at all. It is desperate to sell. Its as is almost gone. can it even meet November payroll, which is now paid in December in order to mislead investors regarding the quarterly cash position?
On Friday November 7th Cenkos issued the above broker note to justify Robert Terry, Laurence Moorse and Steve Scott’s share disposal to Equities First Holdings. Littered with glaring errors, this “clarification” is such monumental drivel that even the arch apologists over at QPPSAG have quietly removed reference of it from their homepage (though you forgot to delete the promotional Tweet chaps!). I note that Cenkos analyst Andy Bryant has apparently today "left the building." Nothing to do with Quenron, natch.
Quindell (QPP) sent me not one but two lawyer’s letters as it attempted to bully me into stop exposing its lies and fraud. What Quindell shareholders might want to ask Rob Terry is how much of their cash he pissed away on this exercise. The second letter came on 11th September from the most expensive law firm in libel, the motherfuckers at Schillings. And I now bring that to you.
Quindell is a fraud. It has lied to investors and since it never generates cash it is worth 0p. Right now the shares are 49p – and falling – and in today’s BearCast I explain why the fall to 0p might be steady or dramatic. But for now we pretend that with Rob Terry on the board it is a normal business. This is a pretence and needs to be addressed. Here are ten questions hapless shareholders need to be asking.
The AIM Index has underperformed all comers by a handsome margin in 2014 just as it did in 2013. The Equities First Holdings LLC scandal has added to the sense that this is a crony capitalist market where the many (mug punters) put up cash to have it transferred to the few (City advisers and greedy and often dishonest directors). The looming collapse of Quindell, a firm once valued at almost £3 billion, will only add to the stench. And yet the LSE – which owns and regulates AIM – acts as if nothing is wrong. As each week goes by and another scandal emerges, another company is shown to have lied, another one goes tits up this position becomes all the more indefensible. No wonder some folks are just giving up on the casino altogether.
I’d love to believe that this morning’s statement from the disastrous, discredited and detestable Rob Terry is the last we will hear from this awful man in an RNS. Sadly I fear it won’t be, unless the authorities launch an immediate investigation into Quindell (QPP). Prior to listing Quindell, Terry’s record at the Innovation Group was there for all to see and red flag warning signs were waving long before Tom embarked on his valiant campaign. Once again, the “world’s most successful growth market” has fallen woefully short in offering British private investors any sort of genuine protection. The brokers, Nomad, PR firms and corporate advisors have all been paid handsomely, while thousands of ordinary people have watched their life savings evaporate. This cannot be acceptable. There are dozens of reasons why the FCA and AIM Regulation should investigate Quindell, but let’s begin with a first complaint of market abuse to the FCA.
He could have just left. He should have just left. But no, Rob Terry had to have the final word. He had to wring every last drop of blood from the Quindell (QPP) stone. He couldn’t resist that final “f*** you” of a fake farewell to his shareholders, people whose trust he abused and savings obliterated. And what a “f*** you” it was!
"Bulletin Board Morons, Cenkos Securities, Steamy & the QPPSAG, Zak Mir at t1psTV, Alan Green, Redleaf PR we have beaten them all, we have beaten them all. Rob Terry, can you hear me? Rob Terry your boys took a hell of a beating! Your boys took a hell of a beating!” And so today’s BearCast special begins. Rob Terry has been forced to quit Quindell but has he really left – what next for this company which is a fraud…
Once again we were inundated with entries for the Quindell Bulletin Board Moron/twitter moron of the week contest. I was almost tempted to give a retrospective prize to this comment from March from a Mr R Terry of Hants “The only question is whether Quindell goes in the FTSE 100 or the FTSE 250, a main market listing is just a tick box exercise.” Rob that was a stormer but this week’s entries were even better – you can see all of the madness HERE And so to the winner.
Well done to foxy Bex and her colleagues at PR outfit Redleaf Polhill, until now the spinners for the liars, fraudsters and insider dealers at Quindell (QPP). Foxy and her team have today quit. And it gets better..
Rob Terry you are a liar, a fraudster and now I also accuse you of insider dealing. I shall not rest until you go to prison you low life vermin criminal. For today we discovered that you and your FD Laurence Moorse and NED Steve Scott sold vast numbers of Quindell shares while withholding price sensitive information – that Canaccord, your joint broker and sponsor of your failed main market listing application had quit.
It is Monday 10 November 2014 and I am on a high, Quindell shares are tanking after a quite disastrous admission forced out of it by a great team effort from a number of writers at ShareProphets. And there is worse to come for Quenron. In the absence of any hard drugs and needing to stay sober ahead of a presentation tonight at Real Man on "Quindell the End Game" I can celebrate only by playing the Real Man 80's collection loudly and singing along. I apologise to our neighbours in Clerkenwell. Next up is "Stand & Deliver" How apt. Post presentation tonight I shall be on an uncontrollable celebratory roll. I digress... by popular demand this contest is back.
Al Capone was never prosecuted for his real crimes, it was the tax man who got him. I shall be making dam sure that for his lies and fraud Rob Terry of Quindell (QPP) does not get off so lightly. However I am equally concerned that all directors of the AIM Companies who have done deals with Equity First Holdings LLC do not try to avoid Capital gains Tax on the shares they have sold. A formal note on all of them will go to HMRC in due course but pleasure before business, let’s start with Robert Simon Terry of Quindell. This article will be sent to HMRC.
The dodgy share sales by three (pro tem) directors of Quindell (QPP) are the least of its problems now as this company and its share price goes into meltdown. But should it wish to clarify its clarification statement regarding the director share sales it described as buys on November 5 I have drafted a release on its behalf. It reads:
The Sunday Times has today unearthed evidence of the cash crisis at Quindell (QPP). Listeners to bearcasts here will not be suprised by this news. So what does Quindell do now? Will the sad excuse of a Nomad that is Cenkos let it respond or must the shares be suspended at once. In an angry and hard hitting podcast I lay out what lies ahead as the shit hits the fan and the shares become worthless. 0p is in sight. Events are now moving at light speed, the word "vindication" is on my lips.
I despair. Quindell “needs to sort me out” – so says Tycoon Ted on ADVFN. Well why doesn’t it launch legal proceedings as it threatened three months ago if I did not shut up and grovel? Or does Ted think it should just have me killed. What do you think Ted? Ted posts:
In March this company was capitalised at almost £3 billion, Quenron (QPP) was – according to fraudster Rob Terry – heading for the FTSE 100. Today, at 68.5p, it is valued at less than £300 million and surely the end is nigh. So when do our readers think that Quenron shares will be suspended and/or hit 0p. The deadline for voting is midnight Sunday.
The most fraudulent acquisition made by Quenron (QPP) was that of Himex. It really is a worthless POS but has been used to boost profits and cashflows at Quindell simply via fraud. However it will start to unravel by New Year's day and this podcast explains why. DCD Holdings, Rob Terry, Hassan Sadiq and Elizabeth Dawson are you listening to this Cosy (pun, geddit?) little message from the Sheriff of AIM?
Are you a member of the QPPSAG and worrying about how to explain to the Mrs that Christmas is going to be cancelled until 2021? Are you employed by a well known Fraudulent company based in Fareham and worried that you are about to lose your job? Or are you a board member at Quindell facing an enforced career change within the next few days? I am here to help, The Sheriff can reveal that one Hampshire based business is hiring aggressively. Yes it is the Country Club!
Right now we are focussing on Rob Terry's lies about share trades and about how he and Fidelity are racing to offload their worthless stock in Quenron (QPP). But there is another pressing issue which is just how grim is the cash position. I put it to you that while Mr Terry's personal bank account might be bulging, back at Quenron the position is dire and that is why Mr 2+2 can = 5 is so keen to offload his stock at almost any price. I explain why the game is almost up.
Quindell (QPP) has yet to fess up as to what price Rob Terry, Larry Moorse and Steve Scott face margin calls on their Equities First Holdings LLC “loans”. But having reflected upon the matter I agree with our readers who overwhelmingly reckon it is 69p on which basis Mr 2+2 has already faced an unwelcome phone call from the hoods in Indianapolis.
On August 19 2014 Quindell (QPP) threatened me with a bully boy lawyer’s letter demanding inter alia that I sign a grovelling apology drafted by it, pay its lawyers bills and damages and that it would get an injunction against me to stop me accusing it and Rob Terry of being a fraud. As with all fraudsters you will note that Terry was using the company’s lawyers (i.e. not his cash but shareholder’s cash) for his case. I now publish that letter in full. And I ask the liars, crooks and frauds at Quindell where is that injunction?
The default position of Quindell (QPP) bulls is that in a worst case scenario it can be saved as was the Innovation Group (TIG) when the fraudster Rob Terry exits stage left. They might not get all their cash back but they would not lose everything. In this podcast, I examine this proposition and conclude that it is rather different this tme and hence why 0p is the only end game for Quenron.
I have demonstrated that Rob Terry and Quindell (QPP) have committed accounting fraud, Securities fraud and lied to investors on a serial basis. The shares are tanking because last week Terry said he was buying shares when he was in fact selling in size. The man is a conman and his company has from the start been one big con. If you still own shares just look at the character of the man. I take you back to 2011.
Fidelity is dumping its shares in Quenron (QPP) and I explain what this means. Jefferies is defending IGAS (IGAS) by doing nothing and I explian why it is so foolish to do so. This will explode in the face of IGAS and its piss poor Nomad. A quick ten minute blast - no holds barred stuff
In response to a number of requests I have created another Quindell (QPP) downfall video featuring all your favourite characters in this gripping tale: Rob Terry, Laurence Moorse, Cenkos, Equity First Holdings LLC, Steamy, bullyboy lawyers Schillings, Canaccord, Daniel Stewart, foxy Bex at Redleaf PR, Paul Murphy and Dan McCrum from the FT, the FCA and of course the press chearleaders for the bulls, Shares Magazine and Zak Mir.
I am shitting bricks. Not. It seems that the Bulletin Board Morons are again reporting me to the FCA for market abuse because of Monday’s Quindell (QPP) Presentation HERE. The morons forget that I made a formal request to the FCA to investigate me for market abuse over Quindell weeks ago – natch I have heard nothing. But for once I support the morons in their actions and would encourage all Quindell shareholders to report me and here’s why.
Fair dues to Ron Duncan at Cloudbuy (CBUY) – he has done a similar deal to the Quindell fraudsters with Equities First Holdings LLC claiming to buy shares when he has in fact sold. But in his statement this morning he has at least fessed up to what price his margin call will be at. Rob Terry and his fellow fraudsters at Quenron have not done this but I can tell you it is c69p. And so with the shares having touched 67p earlier Rob just got a phone call… welcome to Rob Terry...who wants to be a millionaire.
Mr 2+2 can = 5 is my opponent. I seek to expose fraud on the AIM Casino. Rob Terry has engaged in wholesale fraud from the day Quindell (QPP) joined AIM via a RTO on April 28th 2011. Within weeks he was buying a worthless shell company from his lawyers Blake Lapthorne for £150,000 in order to inflate Quindell’s profits by hiding legal costs. And TMC Southern was selling shares gifted to it by Quindell in order to fund bogus purchases from Quindell which ended up being responsible for more than 100% of Quindell group profits in 2011. The frauds and lies have got bigger since but now the game is up as lies are exposed and the shares are tanking. So what is Rob thinking now?
Recorded at the ShareProphets seminar on Monday 10th November 2014 The Sheriff of AIM explains when and why the fraud that is Quindell (QPP) will go tits up causing investors to lose 100%. It is all pretty straightforward as frauds go.
I have been reading and analyzing with great interest the running commentary about Quindell (QPP) and it reminds me very much of a similar case in Denmark involving a very good friend of mine that was roped into investing considerable sums of money into a company that was listed on the Danish stock exchange, that company was called the IT Factory and its auditors were KPMG.
Crony capitalist Nomad Cenkos won’t tell us. Mr 2+2 can = 5, the fraudster Rob Terry will not tell us but we NEED to know at what price does Rob Terry face margin calls from Equity First Holdings LLC and so presumably sell more shares to EF so creating a death spiral? Well maybe our readers have an idea. There have been various suggestions put forward. Vote now on what you think the margin call price is – deadline midnight:
I have this morning tried to shake off the most almighty of hangovers caused by the Quenron (QPP) celebrations of last night, by penning an open letter to Cenkos, Nomad ((pro tem) to the fraud Quindell. Cenkos needs to force Quindell to make a statement now regarding margin calls that Rob Terry, Larry Moorse and Steve Scott must be facing.
The story so far
Sorry to bother you again Cenkos, you bunch of incompetent and sleazy money grabbing crony capitalists, but perhaps you can help us all by stating at what price the fraudster Rob Terry has to put up margin on his “loan” ( aka share sale) agreement with Equities First Holdings LLC.
Infamous bear raider Lucian Miers has today written to Cenkos, the Nomad to disgraced Quindell (QPP) in the wake of today’s disastrous news. He has copied in AIM Regulation and the FCA as he demands further action by Cenkos. The letter reads:
Roll up, roll up. You are the director of a company with a thumping great holding of shares in your company. You want to get some value out of that now, but selling would rock market confidence. Selling all at once would be impossible without dropping the sale price achieved, and doing it in tranches would also drop the overall price achieved. It might be you want to buy a luxury penthouse suite in Toronto. Whatever. How can you do it?
Again a great batch of entries for this contest bit one suspects that week five will produce the best yes given the calamitous admissions of 10th November. You can read the full roster of idiocies HERE but as to the winner....
The Daily Mail applied the coup de Grace for Quindell (QPP) last night with revelations about share sales by Steve Scott, Rob Terry’s second oldest business associate (after Mr Sadiq of Cosy/Himex infamy) and a Quenron NED. This really is devastating.
By popular demand this contest is back. As last week I will award a bottle of wine to the reader who posts up the tweet or Bulletin Board comment from a Quindell shareholders which demonstrates his or her stupidity most clearly - the entries in week two were brilliant. The entries in week one were also incredibly amusing. And arguably last week's selection of sheer stupidity was the best yet. Whether that comes in the form of just not understanding how shares work, a willingness to believe the most errant nonsense or just plain ramping/peddling of TA gobbledygook, feel free to post away. Meanwhile
Lets nail this once and for all. The RNS put out by Quindell (QPP) on 5 November 2014 suggesting that Rob Terry had increased his holding in Quindell (QPP) was a lie. Cenkos signed off on that as Nomad. Cenkos issued a note on Friday 7 November 2014 and was lied to by Quindell. I demonstrate why Quindell is lying and explain how Equities First Holdings LLC works. I cite sources which are refered to below. Cenkos needs to come clean on Monday or it is royally in the merde alongside Quenron
In response to a request from a number of readers I outline a history of The Innovation Group 2001-2003 which was run by Quindell (QPP) players Rob Terry and Steve Scott. If this is not a lesson for all Quenron shareholders on what will happen next, nothing is.
Quite simply Robert Terry and Quindell (QPP) have lied to investors engaged in securities and accounting fraud and so Mr Terry is a con man. He has let it be known to the morons that he is going to sue Tom Winnifrith for libel. Tom says "Go ahead, make my day bitchez." He explains why thje fraudster Rob Terry is acting in this way and the various other empty threats he will employ as he tries to flog as many shares as he can before Quenron goes tits up. The Sheriff of AIM is not flinching.
I flag this up as an example of the truly deranged minds who are backers of Quenron. David posts on ShareProphets:
Things appear to be getting rather desperate round at Quindell (QPP). Far from ignoring his critics and getting on with proving that his business is capable of generating cash, as he promised to do, executive Chairman Rob Terry appears to be running around like a headless chicken trying to prop up his share price which has of late been deflating like a tired soufflé.
On 5th November 2014 Quindell (QPP) announced that three directors had purchased £2 million worth of shares in the market. At the same time it was announced that the three directors had entered into a loan facility ‘that may result in the transfer of up to [all their] Quindell Shares’. So far – up to the last two words of the second sentence – we may accept every word of the text of the announcement as based on fact. But from then on, starting from the last two words of the second sentence, ‘as security’, every sentence and almost every word of the announcement (including the table) is a lie.
I enjoyed another good chat with my pals at AIM Regulation today regarding Quenron (QPP). I know they enjoyed the earlier explosive Bearcast on Quindell and so for them and for the FCA here is a little recap of what we discussed. Dear AIM Regulation, I remain your obedient servant, Tom Winnifrith, The Sheriff of AIM.
As they discuss how all their shares are about to be flogged to Bulletin Board Morons who reckon they are buying we bring you an exclusive shot from the Quindell boardroom of Rob, Steve and Larry in action. With a deadline of Friday midnight how about you suggest a suitable caption for the picture below. For what it is worth:
In light of today's shock revelations about the biggest Quenron con yet plus the Securities fraud (HERE) and accounting fraud (HERE) it is a good day to announce the winners of the Rob Terry & Wormwood Scrubs caption contest from Saturday. The standard of entries was high and I had a good chuckle reviewing them all just now as you can do HERE. But the three best were:
You folks all think Rob Terry, Larry Moorse and Steve Scott are buying Quindell shares. WRONG! Their net positions are going down and going down fast. This is End Game. This is the rats getting out with what they can before the balloon goes up while you guys think they are buying. It is probably legal but this is not what it seems.
Quindell (QPP) bulls have today celebrated the news that chief fraudster Robert Terry and sidekicks Laurence Moorse and Steve Scott have bought 1.575 million Quenron shares at c123p. However they rather miss the point that the trio have not actually risked a cent of their own cash. This is the latest smokescreen and is such a curious transaction it only makes the sell case even stronger. Within the stock puffed up to 133p on the back of this nonsense it is another chance for the bears.
Quenron sent its first lawyers letter demanding a grovelling apology signed by me but written by the fraudsters, a promise never to write about it again and a retraction of all my articles on 19 August. As you may have noticed, I have told Quindell where to stick that letter and I want it to serve Court papers on me as that will start the process of disclosure. As of today, after two and a half months no papers have been served despite me upping the ante with specific allegations backed by proven factual evidence of both accounting and securities fraud. Quindell really does not want disclosure to get underway does it. Shall I give you an example of why?
This should be explicit enough for all concerned. AIM Regulation IS investigating and I expect the FCA andSerious Fraud Office to be on the case too. I explain clearly how Quenron (QPP) and its bosses Laurence Moorse and Rob Terry have committed securities ( as well as accounting) fraud. If they disagree sue me and I shall see the bitchezin Court. But I rather think that Terry et al are going to end up in a rather different Court anyway. For a change, might Bulletin Board Morons rather than attacking me just try to show any factual errors in this damning expose.
As the stench of death gets ever more ghastly at Quenron (QPP) it seems that every new day this corpse in waiting attracts the attention of a new celebrity bear raider. A couple of weeks ago Muddy Waters chipped in. Today it is the legendary John Hempton of Bronte Capital who has been tweeting words of “encouragement” to the morons. That is before he warns that the shares are going to 0p.
The standard of entries in last week’s Quenron (QPP) Bulletin Board/Twitter moron competition was staggeringly high. There are some incredibly stupid folks out there on this shareholder list. If we add in the classic entries from week one (HERE) and week two (HERE) we are half way to a nice little Christmas stocking filler book “In their own words, the dumbest people ever to buy shares” The full list of entries in week three was glorious but the top four are, IMHO:
By popular demand this contest is back. As last week I will award a bottle of wine to the reader who posts up the tweet or Bulletin Board comment from a Quindell shareholders which demonstrates his or her stupidity most clearly - the entries last week were brilliant. The entries in week one were also incredibly amusing. Whether that comes in the form of just not understanding how shares work, a willingness to believe the most errant nonsense or just plain ramping/peddling of TA gobbledygook, feel free to post away. As before Kebab cannot post his own comments as entries, we need to give the other morons a chance and he is in a league of his own. Meanwhile
To great excitement another Quenron (QPP) director stepped up to the plate and bought shares on Friday – Robert Bright snapped up 100,000 shares. Well done Bob, in the context of your wealth…this means jackshit.
In light of today’s damming podcast showing that Rob Terry has committed securities fraud, the caption contest today is in honour of the Quenron (QPP) founder, Mr 2+2 can = 5 himself.
A few weeks ago I was reflecting on the irony that September 19th , the day of the Alibaba float on the NYSE, was likely to prove the high water mark for the Dow Jones for 2014 and possibly a good few years thereafter. (For those unfamiliar with the Alibaba fable, he was a thief)
First the good news. At the 10th November ShareProphets Seminar I shall present on “The end game for Quindell: when and why it will go to 0p” – there are a number of scenarios so it is a when not an if and I shall explain them all in detail. If Quenron goes to 0p before then – which is conceivable – I shall do a song and dance routine instead.
A good reader spot of another Quindell (QPP) logo discovered in Fort Lauderdale airport. This time the operation in question is in the pizza and meatballs business. Perhaps Rob Terry has pulled off another masterstroke acqusition given the obvious fit between selling meatballs and telematics, mobile doctors, low cost insurance, ambulance chasing, solar panels, indoor golf and scaffolding installation. Or maybe this is where he got the idea for the Quenron logo from? What do you think? Captions in the comments section below. My entry is:
Quindell (QPP) owning moron Senor Grande has like his fellow whack job Filthylucre repeatedly promised to boycott this site and never come back. And then both come back like moths to a flame, just to say how much they hate it. The latest comment from Senor Grande is an utterly pompous demand to sack me which merits a wider airing and a detailed reply.
Dreadful news for followers of the Quenron (QPP) saga – the LSE asylum has banned the most deluded ramper of all time QPP1000 from posting on its boards. We have begged the LSE to reconsider and allow this most entertaining of total nutters back in the interests both of free speech but also for sheer entertainment value. We ask al ShareProphets readers to join us in our campaign to get QPP1000 unbanned. After all, who could forget such gems as:
In the interests of balance I bring you a buy note on Quindell (QPP) today. “Analyst” A. Noone at commissioned researcher GECR reckons that the shares are a buy (no change of stance) with a 655p target. He is of course talking utter bollocks. Commissioned research means that the company pays for the hogwash so oddly enough the note does not tackle issues of accounting fraud, lying to investors, how the Q3 cashflow and cash numbers were “bodged” etc. To quote the UK’s top share blogger Paul Scott:
Version 2 with one correction: Yesterday afternoon Quenron (QPP) announced that its non-executive Deputy Chairman Tony Bowers had passed away. It did not take long for a Bulletin Board Moron to accuse me and others of murder. On the ADVFN board J777J posted: “Was this stress related and therefore the shorts have blood on their hands?”. Whatever… Here’s what I think of Bowers and a shocking fact about his successor.
One of the more surprising tweets I received last week was from a lady in the grim north called Kate (@modelsforkate) who had for some time been a self-confessed Quindell (QPP) shareholder and did not like what I was writing so took nearly all her clothes off in protest and send out a tweet inviting me to “kiss her ass”. Whatever. It has subsequently emerged that Kate’s enthusiasm for Quenron might be influenced by the fact that she earns fat fees sending clients to its ambulance chasing whiplash and industrial deafness centres. But let’s still give Kate a platform. As such I bring you her selfie and invite you to post suitable captions below. Deadline midnight tonight?
The weekend caption contest threw up some cracking entries which you can see here. But congratulations to the winner, larboulois, for:
Again what a cracking week have enjoyed from the Quenron (QPP) owning morons who post on Bulletin boards or tweet. The sheer stupidity of these fools defies belief and you cannot help but laugh as you read their deranged thoughts, interspersed with a few posts from our own home grown prize loon Kebab/Kulbas/KB. You can read the full list of fantastic entries HERE
By popular demand this contest is back. As last week I will award a bottle of wine to the reader who posts up the tweet or Bulletin Board comment from a Quindell shareholders which demonstrates his or her stupidity most clearly - the entries last week were fantastic. Whether that comes in the form of just not understanding how shares work, a willingness to believe the most errant nonsense or just plain ramping/peddling of TA gobbledygook, feel free to post away. As before Kebab cannot post his own comments as entries, we need to give the other morons a chance and he is in a league of his own. Meanwhile
Does asset backing mean asset backing? Not always 10p can be worth 10p or 5p or 0p - wthout wishing ti sound like Rob Terry - it all depends on what the asset backing comprises. Tom explains this key metric of investment analysis looking at 4 specific companies: Golden Prospect, Naibu, Paternoster Resources and Quindell as well as Mark Slater's share purchases after the bursting of the dotcom bubble
As the QPPSAG gathers for an emergency meeting this weekend to discuss whether shares in Quenron (QPP) will hit £3 by Christmas or make it to £5, we have managed to get a picture of group leader Steamy and one of his loyal followers on the way to the summit. we ask you to suggest a suitable caption by midnight on Sunday.
The Quenron (QPP) shareholder register as at 30th June has thrown up another couple of stinking fish carcasses. They concern Himex.
The Bulletin Board Morons insist that the calamitous share price decline at Quindell (QPP) is down to wicked shorters, me, the CIA etc. and point to the purchases of stock by the board. But folks you have been conned, let me reveal who has been selling aggressively (to you, you fools) and driving the share price down, it is the Country Club insiders.
I explained yesterday why Rob Terry of Quenron (QPP) was telling a total lie when saying that his Mobile Doctor’s operation is worth £140 million – as you can see HERE. Certain Bulletin Board Morons have offered Mr 2+2 can = 5 a “Get out of Jail card” on this one but let me explain why they are wrong and why Rob is still lying.
All frauds eventually run out of other people's money and so it will be with Quenron (QPP). For it is a fraud as I explained in full detail in this video. So when will Quindell go tits up?
As you know I regard Paul Scott as the UK’s top share blogger. Not only is his analysis top notch but his turn of phrase is excellent. And he’s a nice guy as a bonus. As such I bring you a short post he made earlier on Quenron (QPP) and its joke interview with Shares Magazine. Top stuff Paul!
At the weekend I asked the FCA to investigate me for market abuse regarding Quindell as I reported here. Well what has happened so far?
Rob Terry of Quenron (QPP) is today once again exposed as a liar of monumental proportions. Even the money-grabbing leeches round at Nomad Cenkos should by now be considering their position as I expose today’s £140 million lie told by Mr 2+2 can = 5.
Quenron (QPP) earlier this week announced a telematics deal with one of the top three insurance companies in Canada. Of course that was a lie. Quindell has told lies in RNS statements on a serial basis so that is no shock. The partner is Aviva Canada which is in fact the 15th largest insurance company in Canada. It is the third largest player In the Property & Casualty sub sector but what Quenron said in the RNS was just another lie.
Quindell (QPP) has announced what it believes to be a major deal. Oddly certain Bulletin board morons who have in the past been leaked confidential lawyer’s letters by Quenron have been pre-announcing this for days making a mockery of AIM rules re the release of supposedly price sensitive information. But that is the least of Quindell’s crimes.
I have noted before that the LSE Bulletin Board, Quindell (QPP) thread is an online lunatic asylum where some of the stupidest folk in Christendom post complete gibberish - apparently there is a post there today claiming that the "global shorting conspiracy" is being organised by the CIA and that I am a CIA agent. But this sinister part of the interweb just became more ludicrous.
This morning I have written to the FCA asking it to investigate whether the allegations I made on 13th October 2014 regarding Quindell PLC (QPP) constitute market abuse. The allegations are the most serious I can make, that Quenron has committed wholesale accounting fraud and has lied to investors via RNS. If the allegations are not true I have committed market abuse. As it happens they are 100% verifiable and I have not seen one person show why they are not. That is because they are verifiably true. The video of my presentation making these allegations is HERE. The letter to the FCA explains why I have made this request and reads:
A couple of days ago I asked you to post the dumbest tweets/Bulletin Board Posts you could find from Quindell (QPP) shareholders with the only proviso that our own demented poster Kebab/Kulbas could not enter his own posts. Boy are we spoiled for choice. The prize is a bottle of wine – another reason Kebab cannot win since his mummy would be cross if we sent alcohol to a minor. You can see the full glorious list of entries HERE but the winner is:
Hat tip to JD for this new whizzo idea. I shall peg this competition at the top of the page each week that it runs. All you have to do is post the most idiotic tweets/ Bulletin Board comments by a Quenron (QPP) owning moron that you can find in the comments section below. JD – post your Richard Branson to become a NED one quickly and you will be hard to catch this week. Every Sunday I shall chose a winner and there is a bottle of decent wine in it for the winner and entertainment for us all as the loons go on display. So week one starts now…post away. PS
Oh dear, even the Insurance Times now scents blood and this week started investigating some of the companies that Quindell (QPP) claims to do business with. No doubt the Insurance Times will be viewd by the Bulletin Board Morons as part of the global shorting conspiracy run by pizza hard man Darren Atwater from Clerkenwell.
On Monday night I gave a 40 minute presentation in Clerkenwell in which I showed the frauds Quindell (QPP) has perpetrated, demonstrated why - despite what it says - it has never and will never generate cash and so why its shares are worth 0p. I defy anyone to explain any factual errors in this presentation. The video of that presentation is below.
It’s Friday and so it is time for a caption contest There is no prize simply post your captions for this wonderful and still relevant today cartoon from 1929 in the comments section below by midnight tonight. For what it is worth my Quindell (QPP) themed entry is:
The video of my presentation “Quindell, how it has committed accounting fraud, has not generated a cent of cash despite what it claims and why it is worth 0p” should now appear tomorrow. Pro tem here is part 2 of the Quindell Legal Services – More Red Flags Vicar series. QLS served up so many Red Flags it needs two articles. Part One can be found HERE. Now moving on.
Back in late April Quindell (QPP) shares were on the slide post Gotham and the board responded with a PR campaign of share buying. It was PR puffery. But folks fell for it. And so we have today seen a second NED in Quindell buying shares. Let me explain why this is all bollocks.
Quindell (QPP) faces a cash crisis which is forcing it to resort to quite desperate measures as I outlined HERE and HERE earlier today. Its position is dire. And now our most excellent poster has weighed in with this critical note. As you await for tomorrow’s big daddy video which explains why Quenron has committed accounting fraud, has never generated cash and is worth 0p I bring you the awesome 42 with his latest offering.
Quindell (QPP) took on the bears and Quenron is losing. I first cited red flags about this fraud in April 2013. A year later Gotham City Research took it apart and now the shorters are upping the ante. The smell of Death is clear and now the best known US Bear Muddy Waters has also chipped in via twitter.
It is abundantly clear that Quenron (QPP) now faces a cash crisis of monumental proportions. I am sure that the FCA is now monitoring its Regulatory capital position with extreme concern. And if you want to know what happens when this becomes an issue have a look at Daniel Stewart HERE. I flagged up earlier today, one way in which Quenron is hiding this time bomb from investors – by delaying salary payments HERE – but the other obvious way is by not paying its bills, something you would not be able to gauge from the cobblers in its trading statement of Monday. But poster TurboMubcher has the data and puts it into context for you in an excellent post:
Hapless lapdog broker to Quenron (QPP), Cenkos has admitted that its client has “streamlined” its payroll procedures, Quindell has not clarified what occurred but in light of its claims about its cash position it needs to do so fast.
The slump in the Quenron (QPP) share price following yesterday’s disastrous trading statement has brought the Bulletin Board morons out in force. I spent a happy half hour last night having a butcher’s at the LSE Board. I felt rather like one of those Victorians who used to head down to the asylum to gaze at the lunatics in action. I know it’s a bit voyeuristic but just now and again it is entertaining to see these loons in action.
This came onto my desk yesterday and is a true horror story (unless you are a bear). Of all of the stinking Quenron subsidiary accounts to emerge so far this is arguably the one that stinks the most. But I still have plenty more to go through so I will not award the “stinkiest Quenron subsidiary accounts 2013” title just yet. I covered the POS that is Maine Finance Ltd in a preliminary way yesterday night in a 40 minute presentation showing clearly that Quindell was a fraud and worth 0p. The video of that talk and accompanying slides will go live within 36 hours and the 2 PLC FDs in the room were horrified by what they heard. But back to Maine Finance Limited.
Valiant corporate crusaders, brave seekers of truth and scourge of whitecollar crime, Gotham City has broken cover after months of silence. In the wake of Quenron’s (QPP) disastrous trading statement released today and Gotham does it mince its words. It has just posted two tweets in the past 90 minutes which read:
Quite simply I have never read such complete and utter bollocks in my life. As I write Quenron (QPP) shares are down by a couple of pence at 151p. That is despite it issuing a trading statement which was meant to appear extraordinarily upbeat. In the old days the stock would have jumped by 20% on this sort of bull. But these days investors seem to be waking up to the fact that it does not add up, that the company is talking patent bollocks and that the cash situation is clearly critical. Chuck in the Red Flags from subsidiary accounts which are landing thick and fast and this one is now in a a rapid spiral towards death.
Oh dear, The Quenron (QPP) shareholder list does contain more than its fair share of complete and utter nutters. On an almost daily basis I am alerted to a post which has been made by someone who really is truly bonkers. I was entertained to see some cretin on ADVFN discuss the “TW Red Flags” on Quenron – apparently having a strong opinion which is not buy is deemed a Red Flag. However, The Bulletin Board Moron of the Day is “Mr Palmer” on the LSE Board. On a day when another Quindell nutter who boasted on twitter of having a "hitlist" which included myself and Dan Levi has been reported to the Old Bill (not by me as I regard the Met as useless), Mr Palmer takes centre stage.
I know who poster 42 is and he knows more about Quenron (QPP) than any analyst currently covering the stock in the City. His comment on the trading statement today is bang on the money (or rather lack of it). I shall post my own thoughts later once I have gone through a couple more bogus subsidiary accounts. 42 writes:
I am told that the accounts of Quenron (QPP) must be kosher because the global accounting giant KPMG has signed off on them. KPMG knows all about accounting and I am just a failed fund manager/pizza delivery guy/blogger so clearly know nothing. Hmmmmm, I fear that some folks are in for a rude awakening.
And so Quindell Legal Services, the biggest part of the Quenron Group (QPP) has filed its accounts. Also of interest is the fact that it filed two annual returns for last year. Would Quindell care to deny that it had a spot of bother with its capital adequacy forms filled in with the FCA? That might explain a few of the red flags but not all.
The Quenron (QPP) subsidiary accounts are now landing thick and fast at Companies House and I am ploughing through them but have unearthed the stinkiest yet – Compass Costs. The numbers stated are different in different places, there is revenue missing and there is a curious dividend paid. It stinks to high heaven and since Compass is part of an FCA regulated entity (Quindell Legal Services of which more later) this is certain to attract FCA attention.
Various Bulletin Board Morons have argued that Quindell (QPP) was within its rights to file smaller company accounts for Ingenie so keeping vast amounts of information from you all. And here is why yet again the morons are 100% wrong, I am right and Quindell has broken the law.
Some of our posters really know their onions. I know full well who “Forty Two” is and he knows Quenron (QPP) better than any serving City analyst. His comments after the Friday Ingenie shocker HERE should be read in conjunction with that piece to gain an understanding of how The Quinnovation Group operates. 42 says:
I know that every time that I praise him, Paul Scott gets a shedload of abuse from Bulletin Board Morons but heck it is hard being just right so often, as we both know. Paul is without doubt one of the most perceptive writers on shares going and as such ignore him at your peril. And he has just produced his latest “bargepole list.” Ho ho ho, this will not win him any friends in the Bulletin Board Moron Community.
Quindell subsidiary Ingenie Ltd (of Gary Lineker fame) has filed its calendar 2013 accounts at Companies House but this is a spectacular own goal as it has hidden the full ghastly truth from investors. In the words of Alan Hansen “shocking defending” by Rob Terry.
The final talk at the first ShareProphets seminar was by me and looked at 11 ways that AIM companies artificially boost profits to mislead investors. It featured Sefton (SER) and Quindell (QPP) heavily but other real life examples were given. I thought that it wasa half decent presentation and the audience seemed to approve., To ensure that you get priority booking for future seminars (the next one on 13 October is now booked out but we will start taking bookings for 27 October next week) with 4 talks at each plus free pizza and booze register HERE.
Aha, another one of the 191 Quenron (QPP) subsidiaries has published its accounts at Companies House, Quindell Resourcing Ltd, formerly known as Metaskil Ltd. And needless to say the numbers just do not add up.
As the Quenron (QPP) share price slips away losing more and more of the hard earned savings of the morons who have invested in this company which has demonstrably lied to its shareholders in a serial fashion, the morons response is sheer comedy genius. Today’s twitter moron of the week is Ron Clifton @CliftonPlace who is possibly the thickest of all the Quindell morons on twitter.
”What do the following companies have in common: blinkx, Globo, Quindell, Range Resources and Sefton Resources? It is a two part answer.
I established without doubt on Sunday that the Quindell RNS regarding the issue of 18 million shares on September 2nd 2013 was a great big fat whopping lie told by the company led by Rob Terry. This now begs the question about the issue of a further issue of 9.178808 million shares on October 21 2013. Just to whom were they issued and why? This is exactly the sort of issue my lawyers are dying to get into under the disclosure process if the Quindell bitchez ever get around to suing me for libel.
Sometimes our reader comments merit a wider audience and knowing the identity of Level 42 and how well he knows Quindell, I bring you his little burst of insights on how Quenron operates. This was posted at the bottom of yesterday’s explosive revelations about 360GN HERE. L42 writes:
At last the accounts of Quenron (QPP) subsidiaries are starting to emerge at Companies House and you can see why Rob Terry and his FD Laurence Moorse were so tardy in filing because they are a true can of worms. The first which has arrived is 360GlobalNet Ltd which is 60% owned by Quindell and this stinks to high heaven. Even the pathetic QPPSAG must surely now be hearing the alarming bells ringing? Or perhaps they all have Industrial deafness.
Nothing to do with Gotham but a ShareProphets reader wants to help you understand Quindell (QPP). Remember that well run companies are easy to understand. So here is an organogram, it is work in progress but we are getting there..
It is always the way with fraud. As you try to cover up one little black hole you trip over yourself and another emerges and that forces another lie and in the end it all gets too much.
Another Quindell (QPP) subsidiary has filed its accounts at Companies house. This is not a smoking gun (that’s coming later) but just a demonstration of why so much of the Quenron hype is all bollocks. Welcome to Withyouin5.com Ltd – which is 74% owned by 360GlobalNet Ltd which is itself 60% owned by Quenron.
The annual reports have started to arrive at Companies House for Quenron subsidiaries and I have a stormer of a revelation for you later. Naughty naughty Rob Terry you will not enjoy that one. But as an appetiser and while Mr 2+2 can = 5 sweats on that one I thought I would just point out to you a blatant lie told by Rob Terry to investors which he has admitted to! I have only just noticed. Bad me.
There is speculation that Quenron (QPP) subsidiary Quintica is horribly late in filing its annual report which was due on May 30th. Actually it changed its year end so the report was due to be filed 30th September 2014. It has not been but it is only a bit late not horribly late. However, I just wanted to point out that the release announcing the deal was a tad on the misleading side.
I have noted before how active QPPSAG member, the Jew hating DaveyCaferacer posts some utter crap about Quenron (QPP). It now seems he threatens to “pay me a visit.” From the asylum that is the LSE Bulletin board he writes:
Each week we aim to bring you the most illuminating post by a reader on this site which we think merits a wider audience. And the winner this week is Dominic Cooper who brings some added insight into the world of Quenron , following today’s Red Flag Orgy. Mr Cooper writes:
Quindell (QPP) has even more subsidiaries than I thought. And now the subsidiaries are starting to have subsidiaries. And more have been started this year. Think of rabbits breeding. You start with just one pregnant female and pretty soon you are swamped. Okay the interbreeding causes a few problems down the line but that is Quenron in a nutshell.
I am afraid that my lead hit a dead end so there is no nuclear hand grenade for Quindell (QPP). Yet. However ….
Although it’s given a fairly brief place in One Up on Wall Street, Peter Lynch’s attitude to shorting shares is interesting. Now I have to say that I have never shorted a share in my life, but I know plenty of people who have made good money out of it. I’ve read the recent Quindell (QPP) articles with interest for example. At the end of the day, all money made is good for a share investor, but it’s still interesting to hear Lynch’s perspective.
There have been posts made on several Quenron (QPP) Bulletin Board threads from folks suggesting that they were planning to attend and disrupt tonight’s presentations in Clerkenwell or to have a go at me as I shall be speaking. Just a warning to any morons who are tempted.
Quenron (QPP) has today sought to reassure investors that there is no reason for its shares to be collapsing. There is. I shall come to that in a second. But first, here is what the Quinnovation Group has to say:
I see that various Bulletin Board Morons accuse me of threatening 4,000 jobs at Quindell (QPP). Just for them, I offer a basic lesson in markets and economics.
On Friday I asked you to provide suitable captions in our Quindell (QPP) Spot the Difference Competition. The two photos below show the storefront of one profitable and cash generative operation where you don’t lose your shirt and …the logo of Quenron. And the winning caption is:
Yes you can make money out of Quindell (QPP). That Rob Terry with his seven figure salary and bonus and perks package is doing okay. But the ordinary man on the street can make money too. And here’s how:
Shares in Quenron (QPP) plunged last week to close last week at 136.5p. They are now more than 75% off their highs. Where do we go next? Down obviously. The question is when not if they hit 0p. And here’s why.
Fascinated as I am as to where Quenron (QPP) got its logo, I am indebted to an American reader who has come up with another suggestion as to where Mr 2+2 can = 5 got his inspiration from. In our latest spot the difference competition, please simply post your entries in the comments section below. Deadline midnight tonight (Friday)
We know that as at June 30th 2014 Quindell (QPP) held 6.67 million shares which it had issued to itself to buy PT Healthcare in Treasury. One assumes that it did not deal in a closed period so they were still there as at August 22nd. Are they there now?
I am indebted to reader DiscoStu for pointing out data from the LSE website showing what other stocks are held by investors in some of the companies I am less than kind about. It is sort of a Bulletin Board Moron nightmare portfolio. Why are these fools so attracted to POS stocks?
I have just been sent this exchange from two complete morons who are long and wrong on Quindell (QPP). As their wealth slips away they seem to think me stopping writing and/or beng executed will stop them facing financial oblivion. Fools. On two counts.
Both companies have engaged in aggressive accounting with regard to accruals. One has already been shown to have overstated profits, managers have been fired, the forensic accountants are in and the Serious Fraud Office is now said to be looking into the matter. The other is Quindell (QPP).
As I noted at the weekend HERE Quindell (QPP) sent a letter from its new lawyers almost two weeks ago. I have asked it to justify statements in that letter it has failed to do so. But it gets worse. Quindell has now leaked that letter to the pathetic QPPSAG and it is being quoted verbatim albeit selectively on Bulletin Boards. That is a massive OWN GOAL by Mr 2+2 can = 5. My legal team is over the moon.
As any bull market gets out of hand the aggressive accounting practices start to emerge. Managers on bonuses do whatever they feel able to get away with to deliver the sales and profits needed to justify crazy ratings. Tesco has done the right thing in suspending managers, coming clean and calling in auditors for a full forensic. The question I poser to you is who is next?
The Bulletin Board Morons do not seem to understand that if an Industrial Deafness case is lost Quindell (QPP) earns nothing it just incurs cost. So the mushrooming of bogus claims will not generate any cash for Quenron although it is happily accruing income on the basis that it takes on and wins 6,000 cases a month. Given that the number of claims settles has not risen above 20,000 across the while UK for many years, it is inevitable that at some stage it will have to write back all or nearly all of its accrued income from ID, prompting a profits warning. It will also mean that Quindell runs out of cash. The only question is when?
On 19th August 2014, Quindell’s (QPP) lawyers wrote to me giving me eight hours to agree to withdraw all articles about Quenron, sign a grovelling apology written by them ( how fucking Stalinist) and not to write again. Otherwise I was threatened with a number of measures including injunction and a libel case. I replied within the deadline that I would see the bitchez in Court.
It was 5 AM in the morning one day last week before I finally got to have a good long chat with Sam Antar, the FD behind one of the biggest Wall Street frauds of the 1980s, Crazy Eddies. Poacher turned gamekeeper, Sam now busts white collar crime and is an SEC whistleblower. He also blogs and tweets in a most amusing way. Have a look at www.whitecollarfraud.com @samantar – naturally enough we discussed – at great length – Quenron (QPP).
Sam Antar was at the heart of the biggest fraud on Wall Street of the 1980s – he was FD of Crazy Eddies. But he plea bargained, escaped jail and has endeavoured to set amends ever since by expositing corporate fraud, accounting wrongdoing and by assisting the SEC in fraud busting. He is THE big daddy of fraud exposure, if he goes after someone it makes my efforts or those of Gotham City seem like those of kids in the park. And yesterday he tweeted to a certain well known AIM Casino listed British company.
In this week’s financial video postcard, Tom Winnifrith’s penultimate from Greece, he covers shares that look so cheap, it is too good to be true.
It was only the other day that a Bulletin Board Moron owning shares in Naibu (NBU) referred to me as Winnifraud, accusing me of making it all up. Hey presto come Friday there were dire interims and t is clear that it is not me that is the Norfolk and the moron saw his investment slump in value by another 40%. Worse is to come as I shall reveal later today. But this follows the same pattern as we have seen with Range Resources, Sefton, Vialogy, Globo, Quindell, Iofina, blinkx, Gulf Keystone, Outsourcery etc. etc. Folks like myself and Paul Scott, the great share blogger, point out obvious reasons to sell and all we get is abuse. Paul posted this on ShareProphets yesterday re Naibu
Yesterday I asked you to supply captions for the cartoon below. There were numerous superb entries and it is worth checking out the comments section on the original article for a good laugh HERE. But the winner is...
ShareProphets has obtained some secret footage of the finance team at the Quinnovation Group calculating how much to accrue for Industrial Deafness. We apologise for the fact that our footage was shot in black and white but we hope this makes the process clearer.
Easy peasy. To win a lunch with me on 30th September at Real Man all you need to do is supply the funniest caption for the cartoon below. Feel free to go with a non Quindell (QPP) theme but the Quinnovation Group or Quenron as it is sometimes known seems an easy target.
Posting as Criminalmind on the ShareProphets thread I am sad to see that one Quindell owning moron is not only a total moron but also a prize bigot to boot. It took me about five seconds to find out that the same poster had posted bigotry of a similar vein but under a different name on my personal blog and that as Daveycaferacer he is an active member of the pathetic QPPSAG. Do steamy & his fellow loons condone overt anti-semitism? Will they condemn one of their number for being a Jew hating bigot?
I flagged up HERE the very curious case of Skillwise and Jonathan Stretton Knowles. But doing some digging this becomes all the more mysterious and smelly. It really stinks even by Quindell (QPP) standards.
I have noted before how I regard Paul Scott as the UK’s top share blogger. A trained accountant his judgement is, nearly, always bang on the money. And he is a nice chap although his recent Greek travel exploits seem a bit wishy washy to me – next time Paul fewer whinges about mosquitoes and tweets about cocktails, more frigana cutting! Anyhow, he posted a comment on Quindell (QPP) yesterday which is bang on the money and reads:
Quindell (QPP) has today declared victory in its libel case against Gotham City. As ever with Quindell it is not telling investors the real story. It has disproved none of the Gotham allegations in Court and almost none out of Court and this is why…
Quindell’s numbers for accrued revenue on Industrial Deafness will prove to be fantasy, in my opinion. That will mean massive writebacks of revenue and profits already booked, that all earnings forecasts are wrong and that a company threatening cash crisis is on the way by early 2015. Prompted by a former senior Quindell staffer to whom I have been speaking I went “undercover” today to show why.
So what is Quindell (QPP) trying to hide now? I guess that Rob Terry is getting a bit pissed off that I keep unearthing red flags in the regulatory filings of his 54 subsidiaries ( or is it 57, you kind of lose count). But in trying to reveal as little as possible it seems that the Quinnovation Group is now in a spot of bother with Companies House.
Have you ever wondered where Quindell got its logo from? I think I have the answer for you in today’s spot the difference competition between the logo of Quindell and that of the satirical US website The Onion
Feel like another red flag for Quindell (QPP)? Here’s the good news I have one for you! Lawyers appointed by the official receiver to LSI (2013) Ltd are now investigating its transactions with Quindell – let’s go back to May 2013.
What you mean Rob Terry has not told you about new Ministry of Justice Plans that will whack his medico legal business at Quindell (QPP). Well there’s a surprise. But if Rob cannot be bothered to warn you, I can.
Getting the truth out of Quindell (QPP) is like pulling Dragon’s Teeth. But here we go again on Skillwise Consulting, a newly formed company bought by Quindell owned Brand Extensions (run by Mark Ford) for £2.75 million on 1st September 2013. Remember the date.
On 19th August Quindell (QPP) send me a fascistic lawyer’s letter demanding that by 4PM that day I agree to never write about it again; withdraw all articles and that I sign a letter drafted by them accepting I was wrong. If I refused to accept Quindell threatened to get an injunction to stop me writing. I said See you in Court Bitchez!
And so Quindell (QPP) finally came clean yesterday an announced that its telematics JV with the RAC was no more. The statement does not stack up but then nothing does at Quinnovation Group. Let’s start with a reminder of this ground-breaking deal announced on April 7 2014.
Oh golly gosh, some folks should not be allowed near shares so great is their misunderstanding of basic accounting. I am not only talking about Laurence Moorse the FD of Quinnovation Group but also the Bulletin Board Morons as well. So – is it okay to accrue? Yes indeed it is sensible to do so. Is all accrual accounting prudent? No.
The Times Newspaper yesterday published an article on Quindell (QPP) and myself which is so palpably inaccurate but also sufficiently sinister that I reproduce it in full. If the Times pulls its lies in full and publishes a full retraction, clarification and apology I will withdraw the copyright breach. I sense that Quindell’s PR flunkies at Redleaf Polhill may be behind this article as part of their job of smearing me.
Unusually among UK watchdogs and regulators the Financial Reporting Council is NOT a chocolate teapot. It has teeth. It will use them. And it will happily work with other agencies such as the FCA if they need to be drawn in. It is there to monitor accounts of all UK listed companies. I have today asked it to formally review the accounts of Quindell (QPP). The letter follows.
Our second fashion release today is targeted at the #QPPSAG and other fools who do not care about accounting fraud at Quindell. Just for them, we have another must wear fashion item for the Autumn: “2+2 can = 5, I’m a QPP Moron” T-shirt. Displayed below is the fashion accessory for Autumn 2014 in red.
Released today is the must wear fashion item for the Autumn: “Quindell See you in court Bitchez” T-shirt. Displayed below is the fashion accessory for Autumn 2014 in red.
A week last Tuesday Quindell (QPP) demanded that I withdraw all articles on it, never write about it again and sign and publish a grovelling apology in my name but written by it by 4PM that day. Failure to agree would – I was threatened lead to legal action including an injunction – a Court Order to ban me writing. I said “see you in Court bitchez” and Quindell could easily have had me in front of a judge by the weekend. Injunctions work quickly. Here we are 11 days later and no injunction has been attempted. Why not? Because Quindell and thus Rob Terry have committed accounting fraud - and indeed admitted to it - and the last thing they want is to see me in Court.
And so the Old Bill finally arrived in Clerkenwell yesterday. They were diligent, have bagged the death threat and seem to be taking enquiries seriously. A nice policewoman is in charge and when quizzing Real Man Pizza Company boss Darren Atwater, who opened the letter, she asked “might Tom Winnifrith supply a list of those who hate him?” Er…
The ShareProphets free evening seminars with pizza season kicks off on September 29th and will run every other Monday until December 8th. We now have more than a dozen PLC speakers confirmed for the Autumn season and we will take first bookings for the September event next week for those who have registered HERE. Among the blogger talks already agreed are Tom Winnifrith on “Why Quindell is worth 1p or less” – to make sure you get to pre-book for that register HERE.
Our weekend reader poll asked simply who you thought was the customer who accounted for 41% of Quindell (QPP) sales in 2011 – that is to say £5.6 million. It seems that folks think that it is more likely to have been the Tooth Fairy than a completely unrelated 3rd party.
Quindell’s (QPP) Interims duly arrived last Thursday and as is so often the case with this company when it attempts to reassure the market, yet more concerns were raised. The share price has now lost all the gains in the run up to the announcement and it would not surprise me if they test the recent 140p low in pretty short order. And the ultimate target is a tiny fraction of that.
Received by post at Real Man today, a charming letter with the address typed and a Mount Pleasant postmark ( ie sent from Central London). One can only speculate as to whether this fellow is a supporter of Hamas or a shareholder in Quindell (QPP). I suspect the latter. What a civilised world we live in.
Has Quindell (QPP) invested £15 million in its joint venture with the RAC yet? If so how is this accounted for? What is the real net cash position? The market does not know and needs to be informed. As ever, I want to be helpful and so this morning have sent a letter to the finance director at the Quinnovation Group, Mr Laurence Moorse. It reads:
Quindell (QPP) has steadfastly refused to reveal who was the 41% customer ( c£5.6 million ) of sales in 2011. So we wonder do our readers have any idea who it might be. Please vote below. The poll closes Tuesday at midnight.
Yesterday I asked if Quindell had actually paid the £15 million in cash into Connected Car Solutions its jv company with the RAC of which it owns 51%. Despite announcing the deal on April 7th there is no evidence at all in the interims that such a payment has been made – as you can read HERE. But this now poses three scenarios for the REAL cash position of Quindell at June 3th.
The last time that the vendor of Himex sold a business to a Rob Terry run company it was sold for £50 million. At the same time certain other related businesses were lobbed into the pot and all in all it cost The Innovation Group c£60 million all in goodwill which was all written off within a year. Cosy was a cosy deal for some but not for Rob Terry believers – as explained HERE. Will it be different this time? I now refer you to the 2014 interims from Quindell and the year to March 2013 results for Himex which you can see HERE. Red Flags for lunch anyone?
Hat tip to poster Dalesider here on ShareProphets.com for alerting us to the fact that the Quindell (QPP) interims throw up another red flag and it concerns the much hyped deal with the RAC. Quindell says it is being restructured, I worry about the missing £15 million and wonder if the deal is in tatters as a result of Quindell’s cash crisis.
I have been discussing with my legal advisors the possibility of suing Quindell (QPP) chairman and RedLeaf Polhill the PR agency that drafts Quindell’s releases for libel. This is not because I seek mammoth financial redress but because PR agencies and Company executives need to understand that smearing journalists is not acceptable.
I set what I thought was a very easy prize quiz on Friday offering to buy the winner lunch at Real Man. All you had to do was name company xxxx. You all said it was Quindell (QPP). And you were all wrong. Quindell shareholders you should be very frightened.
I emain ungagged despite the Orwellian legal threats made by Rob Terry & Quindell (QPP). Naturally the question I want answered by Quindell was which company was the 41% customer in 2011 – was it TMC Southern?. To see why that is critical and a potential nuclear landmine for Rob Terry read HERE. But there are two pressing questions anyone still daft enough to own Quindell must ask from the interims released yesterday.
Having earlier looked at the cash flow the interim results of Quindell plc (QPP) showed, in the following I look at the balance sheet impact…
In a piece on the previous results statement from Quindell plc (QPP), I noted that investment greats have guided that investment is all about cash generation and that the investor is safest guided by demonstrable performance. In the following I update my cash flow analysis on Quindell for the interim results just released.
Who was the 41% customer of Quindell in 2011? Was it TMC which had a spare £5.5 million (more than 100% of stated PTP and cashflows) thanks to the Quindell shares it was issued with and flogged? I only ask because of a revelation regarding Quindell flogging shares it issued to itself in today’s interims. That stands out but what about those accruals? Boy oh boy.
I see that on the Bulletin Boards Quindell owning morons have a new smear against me from 2010. It is just a pity that they are so clueless they cannot get their facts right. Our own demented loon of a poster Kebab has happily reposted it here while the guy who sent me a death threat on twitter – James Beckwith has now moved on from bogus restaurant reviews to tweeting the failed smear to me.
In yesterday’s half-baked attempted rebuttal of my recent allegations against Quindell (QPP) the company inadvertently let something critical out of the bag and it now begs a quite enormous question about the 2011 accounts. I refer to TMC Southern.
You thought Quindell (QPP) had gagged me with its threats? You misjudge me badly. When Quindell’s lawyers have read this please would they remember to ask your clients “did TMC contribute 41% of 2011 Quindell Turnover?” Think disclosure and bring on the legals, bitchez! Tomorrow I shall comment on the interims and then my wife arrives at the Greek hovel for our wedding anniversary week and I largely down tools until September. But for now I have started looking at Quindell’s biggest acquisition Himex. By way of background…
I have this morning received a lawyer’s letter from Quindell (QPP) as has ShareProphets. It does not cite any specific factual errors made by me but none the less demands that I withdraw all articles on ShareProphets, put my name to an apology and admission of God knows what else drafted by Quindell and that I never write about the company again. Is this not a tad Stalinist?
At the weekend we asked our readers for their view on CEOs who commit fraud. And yes this does refer explicitly to Rob Terry at Quindell (QPP) who really must answer the simple question posed in today’s article HERE as well as numerous others as a matter of urgency. We asked how you viewed fraud in investment terms. You said:
Quindell concedes that in 2011 one customer accounted for 41% of revenue. In Gotham City’s detailed report on Quindell (QPP) it stated that this customer was SMI Telecom. That was the one point where Quindell stated explicitly that Gotham was wrong. For indeed I bet you £5 (that is not £2 + £2, but £5 in case Rob Terry wants to take the bet) that this company was TMC Southern and that this means that 41% of Quindell’s sales were simply round-tripped proceeds of the sale of Quindell shares. Let me explain.
Gosh this is complicated. The Quindell (QPP) relationship with TMC Southern owned by Mark Ford (see HERE and HERE) is incredibly hard to untangle but one thing is clear: the numbers just do not stack up. Annual returns and reports conflict and there is an awful lot of cash which seems to have gone somewhere? Where? Read on…
This is just a small Red Flag but it is a tad confusing none the less. I refer you to note 21 of the 2011 Annual Report from Quindell (QPP):
Peter Shea is CEO of Daniel Stewart a firm that listed Quindell (QPP), acted as its Nomad and broker from May 17 2011 to January 31 2012 and which was paid handsomely in cash, shares and warrants for its efforts. As Nomad to Quindell it was responsible for ensuring that it did not do things such as hand cash to pals of Rob Terry or lie to shareholders but did it do its job?
A bull of Quindell (QPP) puts it to me that the SIX cases where I have shown that Quindell uses shareholder cash or issued shares to but worthless companies from pals of Rob Terry can be defended with the Golden Hello argument. I am afraid that “J the Bull” might simply push Rob Terry out of the frying pan and into the fire. I refer now to fraud 7 Simon Hall Associates. But I also raise the issue of potential breaches of the tax laws for which the maximum penalty for Rob Terry is 20 years inside.
Over the past few days we have uncovered evidence that on no less than FIVE, sorry make that SIX, occasions Rob Terry handed cash belonging to Quindell (QPP) shareholders to his mates in return for worthless assets. Does this matter? I think it does but others may disagree. What do you think? Poll closes midnight on Monday. Vote now below.
This is the gift that keeps on giving. Already I have unearthed FIVE transactions by Quindell PLC (QPP) where it has bought worthless companies off mates of fraudster Rob Terry with Quindell shareholders cash or shares. I am in a good mood as I trawl through another 51 subsidiaries so here is a sixth fraudulent deal for you, meet UK Sun Limited.
Yesterday I revealed HERE how Fraudster Rob Terry had sent £139,000 of Quindell cash helping out a mate by buying 50% of BestPriceHotDeals.com - an almost worthless e-tailer of garden equipment – from a pal of his Mr Farrelly. I am afraid this gets worse with a new revelation.
Fraud is using shareholders cash on things that do not benefit shareholders. Rob Terry at Quindell has now been shown to have spent vast sums of shareholders cash buying worthless companies off his mates. That is fraud. I have already outlined a series of fraudulent deals and here is another one – BestPricedHotDeals.com
Last week Quindell (QPP) owning Bulletin Board Moron James Beckwith told folks on twitter that he’d like to put a knife to my throat – see HERE. This week he has a new game, joining all those other Quindell owning morons who delight in posting bogus reviews of Real Man Pizza Company on Tripadvisor.
Earlier today I revealed that Quindell had bought a company of which the sole active director and founder was its lawyer Mark Hepworth but which had no business and is still today dormant – that company was Utility Supplier Services and is described as a firm engaged in “the distribution and supply of electricity. You can read that story HERE
Quindell (QPP) Bulletin Board morons it is me again. I have been looking at another of Quindell subsidiary and it begs a few questions for you but also for the Southampton based law firm of Blake Lapthorn and Mark Hepworth a partner there. It’s another Red Flag day for Quindell.
The attacks on me from shareholders in Quindell (QPP) continue. Yesterday say them produce & circulate a defamatory video alleging inter alia that I had an undeclared short position, that my restaurant was unprofitable, that I was very ugly, that all women hated me and that the Quindell Share price was zooming ahead. How very profound. Ugly is a matter of opinion, all the other points are demonstrably untrue.
I have today written to the AIM Regulation team and to the FCA urging both bodies to investigate whether Quindell PLC (QPP) has defrauded its shareholders by paying large sums to buy either companies that have failed to generate any cash for Quindell (indeed they have burned it) or companies that were worthless shelf companies from mates of Quindell founder Rob Terry. Bulletin Board Morons might not like this but it is their company and their cash (as owners of the company) that has been spent and this needs to be formally investigated.
Gosh I wish I was a pal of Rob Terry’s. Then Quindell (QPP) could offer millions of quid for my business irrespective of its true value. Heck it’s only shareholders cash. Actually that' a joke, I'd rather drink Ebola than work for Rob Terry. Earlier I reported Quindell to its auditors over a series of sweetheart deals with Terry’s pal Mark Ford. Now I turn to Business Advisory Service Limited.
I have today written to the senior partner at KPMG, Mr Simon Collins, asking if he should check whether there was undetected fraud in the 2013 accounts published by Quindell (QPP) and audited by his firm. By fraud I mean the payment of cash and shares to a long-time associate of Rob Terry to buy companies that were essentially worthless. Such payments would be fraudulent. The payments would also be fraudulent were it to be shown that the company had some value but nowhere near that paid and that the purchase price could not be justified.
Sorry to be a pedant but I have to ask – who was Quindell’s (QPP) largest trading partner in its IPO year of 2011? Quindell has never made this clear and its use of language on the Gotham denial puzzles me. Perhaps Mr 2+2, Rob Terry, can assist? And while he is about it can he expain why he is so keen on handing over millions of quid belonging to shareholders to buy shelf companies worth £68.40 from his old pal Mark Ford ( spelt with an R) - see HERE.
This is not today’s Quindell (QPP) main article, the Bulletin Board morons are going to have to wait a bit longer for today’s red flags. However I bring them a couple of press comments to keep them occupied pro tem.
I gather that my first Mark Ford article HERE has had some effect round at the Country Club. Skillwise, the shelf company with no assets bought by Quindell from (I think Mark Ford) for £2.76 million in cash on August 30th 2013 has finally appointed some directors (Rob Terry and Laurence Moose). And it has extended its year end. So I guess some revenues will be put through it and it will not be struck off. But while we are on the subject of Mark Ford, let’s move onto BE Insulation Ltd.
All the players in the Quindell (QPP) tale are in there: Rob Terry, Laurence Moose, Mark Ford, PR girl Foxy Bex, Steamy from the ridiculous QPPSAG, Cenkos, Kevin Ashton, Daniel Stewart, Gotham City, ebola, the UKLA and Canaccord. I hope you enjoy watching as much as I enjoyed producing this video.
If you are a bull of Quindell (QPP) then that must largely be because you trust its founder, Mr 2+2 can = 5 Rob Terry. After all almost 40% of the revenue Quindell books this year will be accrued (i.e. not even invoiced but just based on what Rob Terry thinks will come in). He has bought businesses for massive prices from old friends based on what they might do (Himex and of course Brand Extension as exposed HERE yesterday). So you trust Rob Terry.
I came face to face with a serpent yesterday; the pernicious temptation to short a stock on the basis of a piece I knew Tom was about to publish. I spoke with Tom in the morning and he told me about the £4.5million bombshell he had uncovered. This revelation was so explosive I don’t mind admitting it was the first time the thought of opening a position against Quindell (QPP) crossed my mind. I am human and just as flawed as anyone else. I also have a young family and the lure of easy money is all too enticing. I could easily have opened a spread bet or got a friend to short the stock on my behalf. But I didn’t. You see this is what most of our critics completely fail to see. We have positioned ourselves at ShareProphets to attack market abuse as vigorously as we can. Whatever else you might say about us and our editorial style we are not stupid people; far from it. How dim would we have to be to throw stones in a glass house we have chosen to build?!!!!
Another day at the office and another cheery missive from a Quindell (QPP) shareholder who is a member of the #QPPSAG – check out the twitter feed of James Beckwith.
On 14th July Quindell (QPP) issued a trading statement. Its interims are on 21 August. And so today it issues, er um yet another trading statement. Why? Because its shares are in free fall. The statement implies that all is well and the shares have clawed back some of their losses but it simply fails to deal with the bear case. My stance is still sell with a 1p target. Here is why you should view this as a selling opportunity.
In the run up to September 30th Quindell (QPP) faces not only a critical cash crunch but also the unpleasant task of filing annual returns for a host of associate and subsidiaries and these will – I guarantee – prove to be a veritable red flag forest. The first of these reports is now in, Brand Extension, and this will shock even the #QPPSAG as they ask where shareholders cash has gone. Do Nomad Cenkos and broker Canaccord – to whose compliance department this article is going – have no qualms about this company?
As I expected the FCA has today rejected my Freedom of Information Request to discover why Quindell failed to make it off the AIM Cesspit and onto the main market. But look at its reasoning. Ooooh er missus…
Today’s shock news about the RAC has sent Quindell (QPP) shares diving – they are now at 180p. The whole thing stinks. You can read my initial take HERE. But I now move on.
The Financial Times today reports that the much heralded Quindell (QPP) deal with the RAC has stalled big time. This is the start of the great unravel for at the bottom of it all is cash. Or lack of it. The FT states:
I am only asking? It just seems that it appears to be two men who think that they are CEO of Intelligent Claims Management (ICM) and the company website is not terribly helpful. Perhaps – if he is not too busy digesting the latest bad news on whiplash – Mr 2+2 can = 5, Rob Terry might unmask the imposter. Oh…and answer another pesky question on shares while he is about it.
Malcolm Stacey is a great man and one of the nicest guys in shares. But his bullishness about equity markets is wrong. And here is your 10 point checklist as to why it is right to be bearish.
Oh boy I am confused now about Quindell (QPP) and its revenue recognition policy please can a Bulletin Board Moron help me out on this one? Once again I refer to the note from house broker Canaccord – which you can see here – this time with reference to Slater & Gordon another ambulance chaser firm of lawyers.
This is a truly brilliant spreadsheet from Paul Scott, the person I rate as the UK’s top share blogger and an all-round nice guy to boot. In saying all round this is not a reference to his figure although…. Paul does not write for this site and is fiercely independent in his views but he has graciously allowed me to publish this anyway. And so especially for followers of Quindell (QPP), Globo (GBO), Outsourcery (OUT) and a good few others…
In 2014 Quindell (QPP) will book revenue of £228 million (28% of group sales) from Industrial Deafness claims where it will generate not a cent of cash. Those revenues are based on the estimates provided by Mr 2+2 Can =5 Rob Terry and his fellow directors and will ensure Quindell hits EPS forecasts. But anyone looking at this industry must recognise that Terry is bullshitting. Here’s why. Meet The Hearing Clinic.
As I write I am in 27 degree heat, with piles of invoices to be issued, litigation strategies to be completed, marketing to be planned, and the biggy for any law firm - the annual indemnity insurance round (where we have to find an insurer willing to put with taking tens of thousands of pounds in return for covering any errors we may make). Meanwhile, there are a bunch of sycophantic private investors writing on Bulletin Boards, saying how great Quindell (QPP) is and also its visionary leader Rob Terry.
Quindell (QPP) has steadfastly refused to give ALL of the reasons why the UKLA refused to allow it to move off the AIM Cesspit – where it belongs – and onto the main market. It cited one clause of the listing rules as being “particularly” to blame but will just not say what all the reasons were. And so I submitted a Freedom of Information request to the FCA weeks ago. That was acknowledged then in a standard way.
How much revenue will Quindell book for Industrial Deafness work this year? And how much cash will it earn. The answer according to its own house broker Canaccord is £228.4 million (well over 25% of group sales) and er….zippo. This begs incredibly serious questions about the revenue recognition policies of Quindell in this new, Quindell untested, area.
I am sorry to be a pedant but why is it that the joint broker to Quindell (QPP) Canaccord appears to think that ithe company's projections for cash collection in the critical QLS division are wildly optimistic?
As I wait for a new video to be sent back to London I check out the abuse I am getting from Quindell (QPP) shareholders on twitter and on this website. I am struck by just how stupid some of our fellow human beings are. You really wouldn’t want many Quindell shareholders on your pub quiz team would you?
Oh gosh this is complicated. Perhaps I am just a bit stupid and a Bulletin Board Moron can assist with answers to the questions about Quindell’s (QPP) relationship with Himex because it is all jolly complicated. Let’s start in July 2013 when Quindell bought a 19% stake in Himex for £1.8 million in cash and 64.8 million shares. Easy...
For what it is worth I become ever more convinced that my 20p target price for Quindell (QPP) is looking to be wrong and that I should slash it. Gotham City is also set to up the game. Rob Terry said he was suing. Gotham then accused him of the 5 letter F word that rhymes with broad. Rob Terry now says he will let the results do the talking. That is to say he has chickened out of his day in Court. Why? The word on the Street is that Gotham is now working on a second major and detailed report and it is set for publication in the early Autumn. That should be fun.
Quindell (QPP) did not issue an H2 profits warning for 2013. Instead it hit targets and managed to get away a £200 million equity raise. Without that cash it would have gone bust in January. But my attention is drawn to the recent Canaccord buy note (page 18) which begs the question of just how Mr 2+2 can =5, Rob Terry, managed to hit his numbers and avoid a profits warning.
Quindell’s (QPP) trading update on Monday gave bears a welcome opportunity to add to positions higher up as the shares soared 30% on a knee jerk reaction to the bullish statement which was accompanied by a buy note (target price £13) by some oaf round at Cenkos the company’s brokers.
Oh dear. How Canaccord must wish that it still had a proper analyst covering Quindell (QPP). But Kevin Ashton asked too many hard questions of Rob Terry and so found himself on gardening leave. His replacement – Arun George – published a 54 page note yesterday (slashing his target price by 70% and slashing earnings forecasts – see HERE) but absolutely tied himself in knots on PT Healthcare. This is a shambles from the house broker and begs even more questions.
Having slept on the matter I am more than happy to retain my sell stance and 20p target on Quindell after yesterday’s trading statement. On the basis of Quindell adjusted earnings and cashflow forecasts the shares rocketed yesterday but I have more questions than ever and I see the shares are falling steadily today as serious investors start to ask serious questions. My core concern remains cash as I explained yesterday HERE
You think I am the only bear of Quindell (QPP)? Think again. I draw your attention to some press comment from the past 24 hours and in one case the comments section below. Read all this you bulls and tell me that this is a “sleep sound” investment.
What happened to Kevin Ashton the Canaccord analyst who refused to publish a buy note on Quindell (QPP)? He was put on gardening leave. A new gopher is in place and he has resumed coverage with a buy stance (quelle surprise as Canaccord is joint broker) and 354p target. That is a 70% cut in target price. Earnings forecasts for 2014 and 2015. It would be fair to say the Mr Ashton would have regarded such a target price as wildly optimistic. Perhaps that is why Canaccord suspended him.
Suddenly bulletin board morons tweet me in a way that suggests they need to up the medication urgently. Quindell (QPP) shares have leapt by 33% or more to 244p on the back of a trading statement. Those folks who lambasted me for being bearish at 250p and above reckon I have lost all credibility, blah, blah, blah. Whatever… The statement reads well. Superficially – that is to say if you just look at Quindell defined EBITDA, sales (including huge accruals) and EPS numbers. But I have a number of issues and remain a seller with a 20p target and here is why…
Quindell (QPP) values its 85% stake in its Himex operation at $240 million. Well that is what it paid and in the balance sheet that sits almost entirely as goodwill. Quindell has made great claims about Himex but do they stack up. I think they do not. And here is why.
You may well have seen this before but in case you have not, you may want to have a butchers at this court case filed in Delaware in March this year against Himex, its directors and Quindell (QPP). You will no doubt be aware that the founder of Himex was Rob Terry’s business partner in his first (failed) large scale business venture, then sold his next business to The Innovation Group (TIG) when run by Rob Terry – it was a write off.
Are ShareProphets readers as bearish about Quindell (QPP) as our writers? We just wondered what you thought. So before you vote here’s some guidance.
I note that the FT is now getting it in the neck from Bulletin Board Morons for running articles on Quindell (QPP) and other POS Aim stocks which are deemed not to be “balanced.” Welcome to the club ladies and gentlemen.
As ever there is intense competition for this title but David Dunham (@DavidDunham5), a man who tweets a constant diet of twitter bilge, largely on Quindell (QPP) wins in spades, for both spouting utter crap and for failing to understand free speech as he manages the Herculean task of annoying mild mannered Paul Scott.
Cenkos, Canaccord and Daniel Stewart are the three City firms that have made most money from listing Quindell (QPP), advising it and helping it raise cash. For these three City firms Quindell has been an enormous money spinner. And the last published research reports from these three fine houses all advise investors to BUY Quindell stock with price targets a multiple of where the shares are now. But ….
This October the Crony Capitalists who make money from AIM will gather to celebrate another year of making money as Nomads, brokers, PR advisers, lawyers and overpaid directors at a lavish awards dinner. The poor investors whose wealth has been transferred to the crony capitalists will not need to get their DJ’s cleaned as awards for “excellence” are handed out. But if any pissed off peasants want to revolt we suggest you nominate now for researcher of the year Mr Kevin Ashton.
In the wake of its 5 day kill of 1.4 billion Euro capitalised fraud Gowex, Gotham City Research has renewed its attack on Rob Terry and Quindell (QPP). It has not before used a five letter word beginning with F. It has now.
Why oh why will Quindell (QPP) not answer these SEVEN critical questions about the acquisition of PT Healthcare? What is it not telling us? Over to you Mr 2+2 can = 5: answers please. Or maybe broker Killik might care to answer these questions before urging its clients to buy? Perhaps analyst Kevin Ashton of Canacord might care to answer? Oh no...he's not there any more, I do wonder why?
For the avoidance of doubt I think this note from broker Killik is unmitigated drivel. Quindell (QPP) has not answered a number of key Gotham points. Quindell’s cashflow looks incredibly weak. Killik refers to a “number” of Red Flags. There is a very large number. As to major shareholders doing Due Diligence, I guess they did with Gowex too. Maybe Killik can explain how many shares Quindell issued to itself to buy PT Healthcare and how many it has dumped without telling us? Anyhow in the interests of balance I bring you a buy note from Killik. My stance remains sell with a 20p target. Killik writes:
This may be Tom Winnifrith’s last video postcard for a while as he explains at the start of this edition. The Mrs has bought a hovel in Greece and he is off on Friday to start its renovation. It really is a hovel and right now has no internet and is a 15 minute drive from the nearest habitation. But Tom will work hard on getting connected ASAP.
When Gotham City published its damning report on Quindell (QPP) supporters of Rob Terry’s firm were quick to rubbish Gotham as a two bit operation with conflicted interests which did not know what it was talking about. On July 1st Gotham turned its fire on Gowex a US and Spanish listed firm with a market capitalisation of Euro 1.44 billion saying that its shares – then Euro 19.91 were worth zero. Today the CEO has admitted that it was all a fraud and the company has gone bust. It took just Five days.
Last week we asked readers to vote on which company they thought would be next to send a lawyer’s letter to myself, Tom Winnifrith. The readers have spoken clearly - exactly half of those taking part think that Quindell (QPP) is about to piss its shareholders cash away with a legal threat.
I am sorry to be a bore but I have another question about Quindell (QPP) and shares. Yesterday I asked if it had issued 6,666,666 shares to itself to buy shares to increase its stake in PT. It has not answered THAT question. Before that I wondered why it had not issued shares for iter8. It has not answered THAT question. Now I ask if Quindell has been dumping shares in itself without letting us know? I cannot believe that it has but perhaps Quindell might clarify this matter too.
We still await answers from Quindell (QPP) on why it has apparently NOT issued shares it said it would for the purchase of iter8 (see HERE) but now attention turns back to PT Healthcare where the questions mount by the day. But will Quindell answer them. And if not why not?
Quindell (QPP) owning twitter moron Keith Allen does not like what I say about the company. And his response appears to be overt threats. For the avoidance of doubt I do not respond to threats and will not be cowed into silence.
To forget to issue shares which you said you were issuing once is arguably excusable. To forget to issue shares that you said you were issuing a second time starts to look like carelessness. Why oh why do the vendors of businesses to Quindell (QPP) not seem to care that they are not being issued with the shares they are owed. I forced a statement on this matter with PT Healthcare (see here) now I turn to Iter8.
If I comment on Fidelity increasing its stake in Quindell (QPP) I am damned as an obsessive. If I say nothing I am damned as a coward. So I am damned either way but for what it is worth…
I am sorry to go on but I could not resist this gem. If you ever wondered how Rob Terry and Quindell (QPP) managed to capture between 75% and 150% (depending on which stats you use) of the UK Industrial Deafness market from a standing start just ask Rod Cameron, “Executive Assistant to the Founder and Chairman of Quindell PLC.” Ooooh er missus.
Tom Winnifrith had a great meeting with the AIM listed CEO he admires the most last week and discussed a range of issues relation to acquisitions. Yes, a bit of this relates to Quindell (QPP) but it is a more general discussion.
I am urged by various bulls to reconsider my questions on Quindell with reference to data provided by the Institute of Actuaries on Industrial deafness. I have referenced that data and it bears out my thesis 100% in that it shows that there is not a cat in hell’s chance of Quindell hitting its target of 72,000 cases a year settling at £9,000 + on average.
On 15th May I asked whether Quindell at 20p (300p in today’s money was a buy sell or hold? I concluded that the odds were that 20p (old money) was probably the right price but the truth was I did not know. It was not a share one had to own. In light of a series of new facts, I have changed my mind and my target price is now sub 20p ( new, post-consolidation, money).
My attention is drawn to an article in the Daily Mail from 2011 which I suggest that all Quindell (QPP) followers might wish to consider. Back in June 2012 Quindell bought Silverbeck Rymer for £12 million in cash and 96.666667 million Quindell shares.
Quindell (QPP) announced just before its AGM a mammoth and instantaneous change of business in its largest division (Quindell Legal Services, QLS) a – shift into industrial deafness. I find its numbers startling and would like to know the assumptions that it makes to justify its claims
What was Indoor Golf City? And what has happened to it? Just another little nagging question for Quindell (QPP).
Rob Terry has today announced that he has bought £31,667 worth of shares in Quindell (QPP) at £1.90. Yesterday the new CEO bought a few shares. These purchases are all PR – designed to restore investor confidence in shares that are tanking. It is a smokescreen. This is a sell signal and here’s why.
Some Bulletin Board Morons seem to think that this website obsesses and has a vendetta against Quindell (QPP). Well just to reassure the Rob Terry worshipping freaks out there, here are some stats.
Over the weekend I asked why Quindell had NOT issued 100 million shares to increase its stake in PT healthcare on March 28 as it had said that it had done? It answered that today by finally issuing the shares and telling a lie. I then fired over more questions on PT which Quindell refuses to answer.
Blogger Mr Contrarian is our official genius of the day with his Song for Quindell (QPP). This should be sung to the tune of Michelle by The Beatles.
This article on Quindell (QPP) should be self-explanatory. I have this morning made a Freedom of Information Request to the FCA/UKLA regarding the failed attempt by Quindell (QPP) to make it onto the main list and off the Cesspit. The reasons given for the failure in the RNS of 11th June and the AGM Q&A on 19th June 2014 seem to differ. I would like this matter cleared up once and for all and argue that it is in the public interest that it should be.
The rules of AIM are pretty simple and are based on the underlying principle that you cannot tell a blatant lie to investors. To do so is arguably market abuse and it is certainly a breach of AIM rules. If the AIM Cesspit is to have any credibility those who break the rules must be punished and punished publicly. I have therefore written this morning to both the FCA and to AIM Regulation asking both to launch an urgent investigation into both Quindell PLC (QPP) and its Nomad Cenkos after today’s PT healthcare RNS farce/lie.
Quindell (QPP) has today issued an RNS which is a blatant and demonstrable lie. Go on sue me Rob Terry – your company has lied. The issue is the 100 million shares it was meant t have issued to increase its stake in PT healthcare from 26% to 49.9% on March 20 2014. Over the weekend I pointed out that it had in fact NOT issued these shares as it claimed in its prelims and annual report HERE.
As you know I am thick as two short planks and so I am sure that there is a perfectly reasonable explanation for what appears to be another red flag in the ever growing red flag forest at Quindell (QPP). Perhaps a Bulletin Board moron out there can enlighten me regarding the missing 100 million shares?
The global conspiracy theorists are at it again. Clearly Quindell (QPP) shares are falling only because of the concerted and organised attack involving myself, Gotham City, Evil Knievil and no doubt Mossad and numerous others. Nothing whatsoever to do with the numerous red flag, the industrial deafness numbers that don’t stack up, the UKLA rejection, etc., etc. The Bulletin Board Moron of the week, IfonlyIknew on the LSE Quindell thread serves up a classic.
Post the report from Gotham City on Quindell (QPP) the colourful insurance come technology come country club company made great play of how it had issued a number of lawyer’s letters to those involved in what it saw as a “co-ordinated attack”. One recipient of such a letter was bear raider Evil Knievil.
I think you know what I think of Quindell (QPP) but to take account of the share consolidation I have now adjusted my target price…to a hell of a lot lower than it is today!. But what do you think that the UK's lawyers make of its various announcements of late?
Last week on both this website and my own personal blog www.TomWinnifrith.com I asked you for captions to the picture below. The winner can join me for lunch at Real Man Pizza on me.
Thanks to Quindell (QPP) excluding me and also the Fleet Street guys there were very few questions at the AGM which would have troubled Rob Terry greatly. What did we actually learn from what went on there and from the accompanying trading statement?
And then myself and the chaps from the FT and the Sunday Times were also booted out of the building. Not even allowed to wait to interview folks coming out of the AGM or management as they left. Why is Quindell (QPP) running so scared?
My new best pals are Henry from the FT and investigative business reporter John from the Sunday Times. They too were both excluded from the Quindell (QPP) AGM.
Poor Foxy Bex. She is not a bad person, but Quindell's (QPP) PR bird had to defend the indefensible. I was feeling a tad angry by this point and so I confronted her...
I showed my Contract Note. Quindell (QPP) knows that I am a shareholder but they would not let me in. The shares are in a nominee account. PR Bird Foxy Bex was there and she knew it was all kosher. They had a shareholder register with me on it. They could have let me in but did not. Why cannot Rob Terry face tough questions?
Ahead of the Quindell (QPP) farce of an AGM today, I recorded a short video with a few thoughts and questions for the company.
Filmed outside the building where the AGM was to be held, the Sheriff of AIM, was in full dress.
More to follow...
What has Rob Terry got to hide from the press? It is reported that the Quindell (QPP) boss has banned the media from attending tomorrow’s AGM shoot-out. Why on earth would he do that? Perhaps he does not want press reports of institutions questioning him on corporate governance? Or nasty questions about how Quindell projections do not tally with Government data (see my exclusive of earlier today) or perhaps it is questions about the UKLA debacle, the 2012 accounts restatements or untrue RNS statements that he would rather Fleet Street did not pick up on. But…
One of the reasons that Quindell (QPP) had its application for a main market listing canned by the UKLA was that its business had changed so quickly. We are still waiting for Quindell boss Rob Terry to tell us ALL the reasons for his regulatory rejection. But the speed of change at the main “profits” generator Quindell Legal Services is breathtaking. Numbers presented to City analysts yesterday leave me utterly baffled. I am, of course, thick as two short planks - perhaps a Bulletin Board Moron might care to explain it all to me.
When things begin to go pear shaped at a party in my Manor of E13, the savvy punters, who often got the whole thing going in the first place, generally sidle off the dance floor and head off home making their excuses and leaving others to the punch ups, the damage and more often than not the arrival of the law.
Yesterday I posed a number of questions about the purchase of a 19% stake in Himex in July 2013 by Quindell (QPP). Thankfully one question – has been answered by folks who are not Bulletin Board Morons. But that throws up another question and – having slept on it – I realise that I missed out one er…untruth - from that July RNS.
I know that I am not as clever as the average Bulletin Board Moron when it comes to Quindell (QPP) but its apparently contradictory statements have me baffled. Perhaps one of the Rob Terry worshipping Bulletin Board Morons out there might help me explain why apparently contradicting statements regarding the Himex acquisition are not a red flag?
Normally I run a caption contest every week only on my personal blog www.TomWinnifrith.com where financial stuff is interspersed with other libertarian comment or thoughts about anything that grabs me at the time. But for this week only both blogs will run the contest it is a Quindell (QPP) Special.
You could not make it up. Some folks cannot but help pick overpriced glamour stocks which crash. Meet Mike Bowen who tweets as @lookatbowen and who first spring to my attention as he tweeted @tomwinnifrith the only person certifiable is you Tom – Oooh er missus. I guess he owns Quindell (QPP) then.
Do Quindell (QPP) shareholders really understand the company? Well perhaps they want to discuss with me revenue recognition?
The AGM of Quindell PLC (QPP) will be at 10 AM on Thursday 19th June and as a loyal shareholder (as of Monday) I shall be attending and am planning my questions as of now. A few months ago this would have been a love-in with his fan club taking turns to praise CEO Rob Terry, I wonder if the mood may have changed. I still expect to get lynched by Bulletin Board morons as I ask my questions. On what you ask?
Rob Terry of Quindell (QPP) has always been so bullish about his stock urging us all to buy. And he buys shares too – he’d never try to sell would he? Oh yes, I have now seen and email which reveals a very dirty secret indeed. This will shock you to the core. But before we come to the attempted dump let’s deal with the pump.
I have tonight seen an email relating to QPP (QPP) which will shock the market. I need to sleep on this, how to approach this and how to pen my prose. Howver Rob Terry be warned, you are now officially "in sights". The Sheriff of AIM is after you and this looks dreadfully grim for you...
Rob Terry of Quindell (QPP) did a soft interview with BRR on 8 March 2014. You know the sort where the company pays to be asked easy questions. When asked about a full listing (which failed today see HERE) and how long it would take Terry said:
As it happens I was just having a long chat with my good pals at the UKLA (part of the FCA) today. What fine fellows they are. So they have turned down Quindell’s application to move up from the AIM Cesspit to the main market. Rob Terry tries to spin it as a minor issue but this is a disaster. Across the UK Bulletin Board Morons are feeling the pain as the shares have plunged to 12p. Guys you should have listened to The Sheriff of AIM with my many red flag warnings (another one today HERE) rather than slating me. You can all buy me a drink after the AGM next week to say sorry.
I am busy gemming up on Quindell Property Services (QPS) ahead of the AGM of Quindell (QPP) which I am going to next week. I expect to be lynched by BB Morons and will update my will over the weekend. I am sorry to be a pedant and you may regard this as trivial but there appear to be some jolly interesting things about this deal. This may take several articles to explain fully but let’s start with what is the bulk of QPS, that is the 360globalnet business, 360GN.
Quindell (QPP) has today updated its shareholders on its plans for a Full Listing. The statement is weak, begs questions and was only prompted by me and others asking questions. I know that Rob Terry, the Quindell PR bimbos and his other advisors are keen readers of this website and I am glad that they have tried to answer a valid question raised here.
It has been around six weeks now since Gotham City, a little known New York- based research firm dropped a bombshell on retail favourite Quindell Portfolio (QPP) with a damning report which cut the shares in half.
I am tired of arguing with shareholders in Quindell (QPP) on twitter. Some folks will insist that 2 +2 equals 5 forever. And so I have recorded a video just to set the record straight.
Call me a pedant if you wish but I am drawn to statements made by Quindell (QPP) regarding its move from AIM to a full listing and I wonder if it might be appropriate for the company to clarify matters for those like me who take an interest in its affairs. On 31 March in an RNS Quindell stated that:
Canacord is joint broker to Quindell (QPP). When Gotham City published its dossier Canacord withdraw its “buy” recommendation on the stock and said that its stance was “under review”. Almost two months later it is still “under review”. WTF is going on?
It is not just on the Bulletin Boards that financial morons lurk, twitter abounds with them. As such my Moron of the week comes from the twittosphere and is, needless to say, a shareholder in Quindell (QPP).
Once again I return to the issue of shares issued for Quindell Property Services – the company bought by Quindell (QPP) on May 3rd 2013. I have already flagged up serious apparent anomalies with the shares issued for this deal which Quindell has declined to clarify – see HERE. But there is more.
Bulletin Board Morons always tell me that I cannot be right in saying “sell” because a raft of directors have just bought shares. Au contraire – some patterns of boardroom buying are clear sell signals in themselves.
I have written before how I understand very fully how Quindell (QPP) CEO Rob Terry wants to hang out with those few people who stuck by him after he presided over the near collapse of The Innovation Group. But there are limits and this brings me to some statements issued by Quindell regarding Quindell Property Services (QPA) which just do not stack up. Rob now has very serious questions to answer.
I see that the Sunday Times has had a go at Quindell (QPP) CEO Rob Terry for picking up a £720,000 cash bonus last year given that the share price has halved in recent weeks. The Newspaper is right but for the wrong reasons.
I see that over on Stockopedia* someone writing anonymously as a bull of Quindell (QPP) has slammed those who post anonymously suggestions that kit is a sell. Whatever… Mr Steamy001 (perhaps that is his real name?) also describes me as “one of Quindell most vocal detractors.” Hmmmm - I ask questions and perhaps that is viewed as a bad thing in some circles? But would I short the shares now, at 21p?
Probably I am not as clever as your average Bulletin Board Moron but here is another case of why I just do not understand maths Quindell (QPP) style. I have asked the company to explain the following which is based 100% on documents from the Quindell website…It has had four days to comment but has not done so.
Well done Quindell (QPP). It has finally offered a comment on the suggestion from a source of mine that it was considering a bond issue in 2014. To those poltroons who suggested that Quindell would not bother speaking to me, only “proper” journalists
On Friday I was researching two articles where the conclusion is likely to be bearish
I read somewhere recently that one should only invest in companies where it is possible to explain what they do to a six year old. This is perhaps a little unfair in the age of fast evolving technology where often the business model, let alone the product, of highly successful companies can be pretty difficult for even brainy adult analysts to get their heads around.
In happier BG (Before Gotham) days for Quindell (QPP) the release of an RNS announcement saying that a non exec had scored a 3 under par round at the local Country Club would have seen the shares zooming ahead. But, as I have noted before in relation to Globo, once the faithful start to ask questions non-news ceases to have any effect. Indeed it can be counter productive as punters start to smell the desparation. Which brings me to today’s RNS.
Another day, another RNS from Quindell plc (QPP). Today’s is “to update the market on telematics rollout in Canada”, following Friday’s of an “extension of an existing contract with one of the UK's leading insurance brokers”. The following updates my view with the shares currently more than 4.5% lower on the day at 20.5p.
Quindell (QPP) is the gift that keeps on giving – another day and another question or two. This one thrown up by an IMS from insurance group Direct Line (DLG) on Thursday. I merely report and ask the questions.
The Bulletin Board Morons insist that Cenkos, Nomad to Quindell has endorsed the company by publishing a ludicrous buy note with a 90p target. Sorry folks but you do not understand the system and miss the point.
I had rather assumed that Quindell (QPP) would unravel slowly. I am starting to think that the big collapseroonie in the share price might happen rather sooner than expected and Friday’s utterly dismal statement only strengthens that view. But let’s start with Gotham City.
In comments to my questioning of whether the recently announced Quindell plc (QPP) director share purchases represented an attempt at style over substance, the dividend was mentioned (see HERE). The following reviews in light of this comment.
Having at the end of last week published its “detailed response” to the critique earlier in the week by Gotham City Research LLC and stated “it is the intention of a number of the directors to purchase shares in Quindell once they receive clearance from the appropriate regulatory bodies”, Quindell PLC (QPP) has now issued a flurry of director purchase RNSs. Are these meaningful?
Quindell plc (QPP) has published its “detailed response” to the critique earlier in the week by Gotham City Research LLC, including re-emphasising that it rejects the assertions raised in the Gotham publication and that it considers it to be “highly defamatory” and “deliberately misrepresentative”. Hmmmmm.
Quindell (QPP) has issued a statement saying that it will issue a statement later today refuting the 74 page dossier published earlier this week by Gotham City. So far so good. But it also states that "Legal action has already been initiated by the Company against those responsible for what it believes to be a coordinated shorting attack and reports are also being made on this activity to the appropriate regulatory authorities" Having spoken to one person who has received a lawyer’s letter from Quindell, I ask the question “is Rob Terry now fighting shadows?”
“Common yardsticks such as dividend yield, the ratio of price to earnings or to book value, and even growth rates have nothing to do with valuation except to the extent they provide clues to the amount and timing of cash flows into and from the business.”
Warren Buffett, Berkshire Hathaway Inc. Chairman’s Letter (2001)
“The more dependent the valuation becomes on anticipations of the future – and the less it is tied to a figure demonstrated by past performance – the more vulnerable it becomes to possible miscalculation and serious error”.
Benjamin Graham, ‘The Intelligent Investor’ (1973)
Over the weekend yet another employee of the Financial Regulator, the FCA, was in touch asking to link up as he enjoyed my writings, found them most educational and thought we knew many “good people” in common. Cripes the TW Fan Club at the FCA is growing apace. In view of that I have sent them an urgent request regarding Quindell Portfolio (QPP) as someone HAS to be prosecuted for market abuse and sent to prison.
I have just come down from a Greek mountain and picked up a call from Lucian Miers on Quindell (QPP) vs Gotham City Research. Quindell says that it is consulting its lawyers about the 74 page research report published today. We shall see.
Following an early afternoon collapse in its share price (down by more than 56% on the day to 17p at one stage), Quindell plc (QPP) has announced that it “is aware of the publication today by Gotham City Research LLC. The board rejects the assertions raised in this note and considers the note to be highly defamatory, deliberately misrepresentative and entirely rejects the conclusions that are made”. The following updates with the shares having closed the day approaching 40% lower at 23.75p.
I put a very simple question to foxy PR bird Bex regarding Quindell (QPP) yesterday which Quindell is so far refusing to answer. As to why I can but speculate.
Quindell Portfolio (QPP) has today announced that its contract to service Swinton has been extended. Hoo hah. The Bulletin Board Morons are frothing and the shares have ticked up. Bear raider Evil Knievil, who is short, says that the RNS is “meaningless.” I agree.
Bear raider Evil Knievil lost £40,000 shorting Quindell Portfolio (QPP) last time around but he has opened up a material short position after results yesterday, but has been prevented from letting folks know about it. I am always here to help…I am that sort of all-round nice guy.
For a company that was supposed to be heading for oblivion less than a year ago, shares of Quindell Portfolio (QPP) have performed rather well since then. In fact, the AIM outsourcing group has confounded the doomsters in a rather embarrassing way.
The Closet Chartist has once again served up a special report on the six stocks on AIM you should be buying as a trade this week. He starts with Quindell Portfolio (QPP) and Pan African Resources (PAF).
The 6 month plus recovery for shares in Quindell Portfolio (QPP), after a quite powerful bear attack on the company, is almost enough to make us forget that during the dark days of May there may have been some who were fearful of a terminal decline for the stock here.
The end of 2013 is still some way off but one of the stocks of the year has to have been Quindell Portfolio (QPP) – the fall and rise of Reginald Quindell has been astonishing. And today there is, what appears to be, an upbeat Q3 trading statement.
Although shares of Quindell Portfolio (QPP) are now close to where they started the year at just above 16p there may be more gains to come. This is, of course, bad news for bear raider Evil Knievil who remains short but the charts do not lie. Sorry old boy.
Bear raider Evil Knievil remains short of Quindell Portfolio (QPP) albeit with a greatly reduced position. However, whilst insisting that he does not trust the company, he has admitted to shareprophets.com that the interims out today “look good.”
I have a follower on Twitter – salt of the earth – who has been questioning my position on Quindell Portfolio (QPP). Hopefully, the following article will clarify the situation.
Having managed to get knocked back from Oxford (twice), Cambridge and Harvard Universities at the interview stage, I would be the first to admit that on occasion I may not be as fast off the mark as others. Nevertheless, albeit in tortoise like fashion, the main uptrend line for Quindell Portfolio chart has been identified today.
How do you keep an idiot in suspense? Assuming he is the sort of idiot who owns shares in Quindell (QPP) it is by telling him that the annual report is imminent.
I think it can be said quite fairly that as far as Quindell Portfolio has been concerned in the recent past, the price action has not been good for neither man or beast, bull or bear.
On Monday Quindell (QPP) insisted that directors intended to buy shares after its AGM as they could not do so until then thanks to AIM closed period rules.
I will try to make this the last Quindell (QPP) piece of the week but I have slept on it and the statement of yesterday threw up far more questions than it answered. I am afraid that I must again start with that £15 million loan Quindell has advanced and which appeared on the year-end balance sheet.
Quindell Portfolio has yet again put out a statement saying that there is no reason for its share price tanking other than wicked shorters and the press getting it wrong. Sorry fellows here is a good reason “you do not fxxxxxg well answer valid questions.”
In the aftermath of this week collapse of the stock it is clear that it is almost as bad to pander to the crowd as get a call on a stock or market wrong. This is despite the risk of effigy burning on the bulletin boards.
With its shares having tanked from 14p a few weeks ago to just over 7.41p with most of the falls following annual results on Tuesday, Quindell Portfolio (QPP) – hitherto a darling of the AIM Cesspit – has put out a statement late last night.
I am slightly miffed that Quindell Portfolio has given a charting sell on an exhaustion gap fill end of day close basis – one that delivers bearish news for technical traders, but not the end of the world scenario my fundamentals based friends are warning of.
Bear raider Evil Knievil and I chatted tonight and he is in celebratory mood following the post results meltdown in the share price of AIM Cesspit listed Quindell Portfolio (QPP).
Last week Quindell Portfolio (QPP) announced the acquisition of a 20 year old claims management company to help them meet accelerating demand as well as a significant contract with one of the UK’s largest direct insurers.
Looking at the contrast between the newsflow for Quindell Portfolio since the turn of the year, and the price action, it can be said that bulls of the software, consultancy and technology enabled outsourcing group might be forgiven for thinking that they have been somewhat hard done by.
I know nothing about Quindell portfolio (QPP) other than Lucian Miers regards it as an accident waiting to happen (as he explained here.) and that I share his unease at its aggressive manner of stock promotion. Today’s RNS only increases that unease.
Shares in Quindell Portfolio (QPP) have gone up around five times in less than two years since the company was admitted to AIM. The fast growing company has also more than doubled the number of shares in issue to 3.6 billion to give it a market cap (at 14.2p) of £516 million. It is an accident waiting to happen.