The May edition of the UK Investor Magazine is live - Tips, UK Investor Show photo feature, and the the end of the EU
British Airways- why I was not flying Saturday: an ex customer writes about it and the journalists it bribes
Published 8 days ago
The busting of a placing by AIM-listed UK Oil and Gas (UKOG) at 1p by Tom Winnifrith has caused a bit of controversy. It is not the first time he has been accused of being irresponsible by blowing the lid on a placing only for it to be pulled or the price dropped. Anyone left holding the baby gets their fingers burned – in the recent example quite badly if they had been buying into the ramp at north of 1.4p only to see the company raise cash at just 0.8p. Is it right?
Published 12 days ago
With shares in InterQuest (ITQ) yesterday having increased on the day from comfortably below 40p to well above, at 3:51pm (noting the “recent share price movement” - nothing suspicious to concern AIM regulation then!) a newly created company (Chisbridge Ltd) formed by Gary Ashworth, Chris Eldridge and David Bygrave (respectively InterQuest Chairman, CEO and CFO and 33.3%, 0% and 0.1% shareholders) ‘confirmed’ “that it is evaluating making an offer for InterQuest at 42 pence per share in cash with a full loan note alternative”. They're taking the piss, surely...
Published 16 days ago
Marcus Stuttard, head of AIM and the oxymorons of AIM Regulation, had a specially selected and beautifully diversified portfolio of AIM stocks chosen by ShareProphets back at the end of last September so that he could demonstrate his faith in the regulatory set-up of the market he runs. Naturally, there was nothing at all wrong with any of the companies picked: they were all trading on the Casino as normal, so we were just plain wrong to be Red Flagging them all for one reason or another. We were just so, so wrong that……
Published 18 days ago
I am unable to sleep because of the stifling heat of Southern Greece as well as the prospect of another week of holiday with the mother in law. Sean Smith, the CEO of AIM casino posterboy Eden Research (EDEN) is probably also suffering nightmares and insomnia but for different reasons. As he desperately tries to persuade his auditors to sign off Eden's accounts without an emphasis of matter, Smith knows that the £920,000 Terpenetech panama pump fraud he masterminded is now unravelling. The question is not will it cause Eden's destruction but when will this time-bomb blow up. I have thus, whiled away the early hours with a letter to AIM Regulation which is below.
Published 20 days ago
Tom Winnifrith keeps reminding us that frauds, like Labour Governments, always end up running out of other peoples’ money. And that brings us to the Chocolate teapots of the FCA which have been exposed in an excellent piece in The Daily Telegraph as having spent enough to keep a couple of nurses on shift for a year to have its logo redesigned….to almost identical and equally pointless window-dressing for its website and corporate communications. Why not spend the cash on catching criminals? I am reminded of images of yester-year of swanky new deep-pile carpets in the hospital chief executive’s office whilst patients waited for years to regain mobility offered by a hip replacement.
Published 33 days ago
Naughty naughty naughty. On Tuesday night Ve Interactive, the daft money guzzling new media start up into which Concha (CHA) unwisely invested on a £1 billion valuation went into administration and was at once bought ( one assumes for peanuts) by management and certain existing shareholders. Since Concha has not a lot of cash it is hard to see it being involved. But where is the statement? AIM Rules say something about timely disclosure yet we have had 24 hours with no RNS. Nope make that 36 hours...
Published 43 days ago
BNN Technology (BNN) has duly announced its prelims for the year to Dec 2016. First of all: hats off to broker Mirabaud for finding punters willing to throw a further £25 million at the company on top of £51 million stumped up last year.
Published 46 days ago
The ShareProphets AIM-China Filthy Forty is set to have yet another casualty – this time MoneySwap (SWAP) which is proposing to follow Taihua (TAIH) and Jiasen (JSI) out of the back door via a cancellation EGM to become the twenty-seventh Casino delisting. But this will be after almost eight months suspended from trading. Oh Oxymorons at AIM Regulation, whatever happened to AIM Rule 41 which says that execution comes at the end of six months’ suspension? Why don’t you just apply your own rules? Does the AIM Rulebook count for nothing these days?
Published 64 days ago
AIM Death Row long-termer and ShareProphets AIM-China Filthy Forty play Asian Citrus (ACHL) was suspended pending accounts way back on 28 September last year after its auditor demanded further testing, including visits to the company’s banks to see the bank statements first hand in the wake of allegations that the books had a few, ahem, “anomalies”.
Published 97 days ago
The battle between good and evil continues as suspended AIM dog Management Resource Solutions (MRS). You may remember that there is a meeting on Friday to oust certain directors but the board, acting like democracy despising a'holes, found a pretext to stop shareholders voting in new guys.
Published 127 days ago
Marcus Stuttard, the head honcho of the AIM Casino would have us believe that the market is tightly regulated by his team of oxymorons at AIM Regulation. In order to demonstrate his faith in his own system we thought it a good idea to pick him a portfolio of seven stocks which we have Red Flagged so that he could put his own money into them and show us all that there is no problem of fraud on the world’s most successful growth market. Here is the January update for Stuttard’s Septic Seven.
Published 130 days ago
Hat tip to reader P who has already dobbed Frontera Resources (FRR) into the Oxymorons at AIM Regulation for what appears to be a blatant reach of the rules but on the casino do the rules matter any more? Does anyone give a flying wotsit about sticking to the rules when Marcus Stuttard and his Keystone Cops are just so utterly useless? AIM Rules dictate that companies must inform investors via RNs of material changes in trading. So over to Frontera...
Published 134 days ago
A dispiriting new entry to the Sub-Standard Shockers XI this week – well someone has to fill the impending gap created by the liquidation of Worthington (WRN) - so please everyone give a warm welcome to Simian Global (SMG), a reincarnation of a previously failed effort. Please allow me to explain.
Published 136 days ago
And so after its website disappeared at least as early as late November last year and two failed efforts at getting a replacement available so as to comply with AIM Rule 26, ShareProphets AIM-China Filthy Forty play Taihua (TAIH) has finally issued some Jackanory of a statement saying it now won’t be complying until Monday next week. The explanation may seem reasonable, but in context they’re ‘avin’ a bubble.
Published 137 days ago
This is descending into farce: almost seven weeks ago we noted that the company website of ShareProphets AIM-China Filthy Forty play Taihua (TAIH) had disappeared. Following two missives to AIM Regulation, finally a new website was notified by RNS on Wednesday but it lasted less than 24 hours before being blocked – one assumes by the Chinese authorities, since the notification was in Chinese. Not to worry, yesterday the company notified another web address for its website but this morning that too has been blocked.
Published 138 days ago
ShareProphets AIM-China Filthy Forty play PCG Entertainment (PCGE) has announced a rescue deal. It is great news for shareholders and a stunning coup for head honcho Richard Poulden, the Chairman, who stepped up to the plate following the shocking emergence of difficulties involving previous top dog Mr Kung Min Lin and a deal to buy Centre Point Development Corp (CPDC). The deal announced today looks to be a full lancing of the boil.
Published 139 days ago
Well there you go: two letters to AIM Regulation and half an hour after the second one is published ShareProphets AIM-China Filthy Forty Taihua (TAIH) releases an RNS saying it has a new website: www.taihplc.cn. Amen to that - and a rare well done to the oxymorons. A dot.com becomes a dot.cn - was that really so hard to explain to the market in an RNS, that it has taken over six weeks to update investors since the demise of the company's previous pages?
Published 139 days ago
ShareProphets Aim-China Filthy Forty play Taihua (TAIH) is having a giraffe. The buy-back announced last August, to be paid for from an Open Offer long since completed hasn’t happened. There has been no update on the matter since the end of September. The accounting matters over related party receivables which the company, in its FY15 Annual Report promised an update on has seen no further comment. The website has disappeared, meaning that the company is in breach of AIM Rule 26 – a matter I raised with AIM Regulation on 29 December last year.
Published 141 days ago
Hapless Nomad Cairn has so far refused to resign as adviser to the AIM fraud Cloudtag (CTAG) despite incontrovertible evidence of house it has misled investors with RNS statements that are outright lies throughout 2016 and in doing so has committed blatant securities fraud. Today's shock video from CES where an Onitor spokesman admits that there is no release date yet is surely the straw that breaks the camel's back in that it directly exposes as a lie every statement made in November & December about 2016 sales that was used to get away a £4.1 million death spiral fund raise. I have written to Tony Rawlinson & Liam Murray at Cairn and cc'd in that useless poltroon Marcus Stuttard, head of the oxymorons at AIM Regulation demanding a statement and action.
Published 149 days ago
That the London market – and especially AIM – is fleecing investors on a regular basis is a given in these parts. Of course, most companies are run by honest individuals but the regulatory set-up is failing to bring those lacking in morals to book and investors need protection. It is not even the community of BBMs who need to be looked after either – consider the plight of those whose cash has ended up in institutional hands such as those of Tom Dobell of M&G and despatched to the great central bank in the sky via the fraud Quindell.
Published 152 days ago
The broken record is still going with regard to ShareProphets AIM-China Filthy Forty play Taihua (TAIH) and its missing website, the share buy-back promised back in August (and funded from an Open Offer) and, of course, the update over related party receivables which the auditor wouldn’t sign off in last year’s accounts. Now, in the season of goodwill, it is time for one last missive for 2016 to the oxymorons at AIM Regulation with regard to compliance with AIM Rule 26. We just such nice guys here at ShareProphets, we just want to help.
Published 159 days ago
And so today we have another revelation, this time from Nigel, showing how the rotters at Cloudtag (CTAG) have once again lied to investors in an RNS. I say once again because we have now lost track of the number of times this has happened. And the lies have been told with deliberate purpose: to pump the share price to allow both insiders and those backing placing after placing to dump stock at inflated prices. This is fraud. Yet Nomad Cairn continues to sign off on these lies issued via RNS, to tolerate CEO Amit lying in podcasts and videos to ramp the shares. So I have written once again to Cairn and cc'd in AIM Regulation
Published 162 days ago
Update. I have it on good authority that it was NOT Cloudtag fined. Hpefully uit will be. The share tip I mention at 7.45 can be accessed for £5 HERE. The notice of the £75,000 fine by AIM Regulation on an un-named company, levied last Thursday is HERE. That company not Cloudtag (CTAG) - it should be. Whoever it is should fess up. This is a dark day for AIM as it has fined the wrong party (the shareholders not the board) and in not naming the company it also screws the shareholders again. Regulators have form with private censures that let everyone down. I compare this to the 3DM scandal.
Published 162 days ago
Unbelievably, it’s very rare for AIM to actually issue a disciplinary notice but one came out last Thursday. Unfortunately it was anonymous although it is still worth taking a closer look and we may as well try and have a guess if nothing else.
Published 165 days ago
Oh dear, oh dear. Bad news for bulls of AIM-listed (pro tem) CloudTag (CTAG) this morning – and possibly for L1. Last Friday the shares were suspended with no reason being given, “pending an announcement”. An announcement duly followed (at no-one-is-watching o’clock) telling us that L1 had issued another conversion notice and that it was expected that dealings in the Shares will commence on or around 15 December 2016. The shares, however, remained suspended pending another RNS. Well, we’ve had this morning’s AIM notice but no such admission to trading has been announced.
Published 168 days ago
The EGM of AIM fraud Cloudtag (CTAG) was delayed because the plane carrying CEO Amit Ben Haim was held up by fog on its approach to the Channel Islands. Once the great man arrived all resolutions allowing the issue of vast numbers of shares to death spiral providers, and anyone else who will stump up cash, were duly passed. No shock there, most morons can't afford an air fare so voted by proxy pre suspension at a time when the shares were flying so, natch, they backed management. But....
Published 170 days ago
Bear raider Lucian Miers has again challenged the Oxymorons at AIM Regulation to take swift and firm action against Cloudtag (CTAG) for market abuse but has also raised the issue of forward selling by death spiral provider L1 Capital. This is effectively running a naked short and should thus be illegal. Miers writes:
Published 181 days ago
Oh dear, AIM-listed jam- (and product) tomorrow (or sometime, maybe) CloudTag (CTAG) closed last night notching up (or, perhaps down) a bid price of just 6.75p per share. This might be causing a few headaches over at L1 Towers as it seeks to convert its remaining £1.2 million of convertible notes from Tranche 1 of its death spiral funding package. My plan to become a death spiral financier on the Casino seems to have hit a nasty problem – that of headroom in already existing share issuance authorities of the investee company running out and leaving me lobster-potted in unconvertible notes. Of course, I can “persuade” the company to increase the authorities, but time is of the essence: I want to offload ASAP and bank my bunce.
Published 182 days ago
Advanced Oncotherapy's (AVO) much ramped JV with China based Sinophi is falling apart in the most embarrassing of ways. Advanced announced its first deal with Sinophi on March 25 2015, a statement made by Sinophi should have the FCA and AIM regulation crawling all over this one.
Published 182 days ago
Over the weekend I urged AIM Regulation and the FCA to open a formal enquiry into market abuse and securities fraud by the AIM uber-fraud Cloudtag (CTAG). This morning I have sent an urgent missive to AIM Regulation and its hapless boss Marcus Stuttard asking why Cloudtag is not being forced to postpone its General Meeting allowing it to issue more shares.
Published 183 days ago
You may remember that some Cloudtag (CTAG) owning moron contacted the FCA to demand that they shut me down. Oddly that seems to have come to nothing. But the regulators at Canary Wharf as well as Marcus Stuttard's team of Keystone Cops at AIM Regulation must be awqare of this fraudulent company by now. I have today written to both showing the clear evidence that Cloudtag has committed market abuse and fraud and demanding that a formal investigation be opened at once into the company AND its Nomad Cairn Financial. And here is why, as I publish the letter in full.
Published 183 days ago
It is four weeks since the last update on the fortunes of our specially selected and diversified portfolio of AIM stocks which we think that the sham sheriff of AIM, Mr Marcus Stuttard, should invest his own cash into as a way of demonstrating his faith in the market he runs and the competence of his team of oxymorons at AIM Regulation. We have Red Flagged them all, but naturally we must be wrong because this is the world’s most successful growth market. And so in month two our index has gone from a 4.5% gain to……
Published 184 days ago
Yesterday shares in Advanced Oncotherapy (AVO) plunged after it fessed up that a critical deal worth up to $120 million with a Chinese entity had encountered problems. Those who backed a big fundraise just weeks ago are already 26% down. But the incident begs massive questions about the timeline of disclosure and RNS statements that appear to be utterly untrue. I have written to the FCA & AIM Regulation, as this appears to be market abuse, outlining my very specific concerns and demanding an urgent enquiry and, if appropriate, that sanction be taken against those responsible. The letter is below:
Published 192 days ago
PriceWaterhouseCcoopers, PWC, is acting as administrator to the subsidiaries of Gable Holdings (GAH) and has published a damning report making clear the black hole that has existed there since the start of the year. The shares were suspended only on September 12. This is a scandalous failure on the part of Nomad Zeus and the Oxymorons at AIM Regulation.
Published 200 days ago
As predicted HERE there were fewer than 1,000 companies listed on the AIM Casino at the end of October. the total of 995 was the lowest since late 2004. Here we are at the end of an eight year bull market and AIM is still collapsing - it has 1,347 companies back in 2007. But read beneath the headlines and the data is even more shocking.
Published 209 days ago
The FCA's new boss Andrew Bailey has accepted that the chocolate teapots have failed in their remit of protecting consumers and for that we must give him enormous credit. He has launched a new mission statement and now wants our views. Some organisations may view their readers with contempt and suggest that the "little folk" should channel their views via the grown ups. But we know that, nearly all, our readers are intelligent adults who can speak for themselves and we urge you to do so. I will be submitting my thoughts as you can see below.
Published 212 days ago
If Marcus Stuttard, the Sham Sheriff of AIM, really believes that the Casino is properly regulated, we think he should put some of his own money where his complacent mouth is by investing in a portfolio of companies which would demonstrate his confidence in his team of Oxymorons at AIM Regulation. We are such nice guys here at ShareProphets that we have helpfully compiled a beautifully diversified portfolio for him. We, ahem, AIM to please. With the original list having been complied on 29 Sept 2016, here is our first update, one month on – and it is off to a flier!
Published 216 days ago
Earlier today I pointed out how Lord David Evans, the senior NED at Advanced Oncotherapy (AVO) sold his entire holding of shares during a closed period and just ahead of a major placing. He appears only to have told the company this week, although the share sales took place between 19 August 2016 and 16 September 2016. This is a massive breach of AIM Rule 21. I have written to Marcus Stuttard, the head of the Oxymorons at AIM Regulation.
Published 218 days ago
Following the example set by Paul Warwick the chairman of worthless penny stock Andalas (ADL) in starting a blog, Sir Ben Dover of AIM listed Global Mining Endeavours has decided to follow suit and like Paul promises to be candid in his approach. Blog number twenty....
Published 221 days ago
I trust that you have written to the wretched bogus Sheriff of AIM, the head of the Oxymorons at AIM Regulation, Mr Marcus Stuttard demanding that Roland Fatty Cornish be struck off as a Nomad after the New World bank heist scandal? If not write now! In light of that please submit suitable captions for the picture below in the comments section. The deadline is midnight on Thursday
Published 224 days ago
Today is a very dark day indeed for AIM as the scale of the white collar crime at New World Oil & Gas under its former management team has become clear. That former directors should be investigated by the SFO and others is clear. But AIM Regulation must act quickly to cut one cancer out of the system, it must stop Roland "Fatty" Cornish individually and his firm Beaumont Cornish from ever acting as a Nomad again. I urge you to email the boss of AIM Regulation Marcus Stuttard demanding this happen and suggest what to write below. You can email Marcus at
Published 227 days ago
Slung off AIM yesterday, Gable's (GAH) main subsidiary is now in administration and the PLC will surely follow, as I explained HERE. No doubt Marcus Stuttard and the oxymoronic clowns round at AIM Regulation will no doubt just dismiss this as "one of those things" that happen now and again on "the world's most successful growth market". The CEO has made £15 million in the AIM years but investors have lost everything. There must be an major and formal enquiry and here is why.
Published 242 days ago
On Monday we asked you to supply suitable captions for the picture below featuring Lyin' Chris Cleverley the CEO, and expenses guzzling socialist hypocrite NED Lord Peter Hain of FRAUD African Potash (AFPO). After four weeks, Potash has still not sued me for libel as its fascist lawyers Memery Crystal promised so I guess it accepts that it is a fraud then. Of course it is. Everyone knows that aprt from hapless Nomad Cantor Fitzgerald and the Oxymorons at AIM Regulation. Your suggested captions reflected that matter as you can see HERE. But the winner is:
Published 242 days ago
If Marcus Stuttard, the Sham Sheriff of AIM, really believes that the Casino is properly regulated, we think he should put some of his own money where his complacent mouth is by investing in a portfolio of companies which would demonstrate his confidence in his team of Oxymorons at AIM Regulation. We are such nice guys here at ShareProphets that we have helpfully compiled a beautifully diversified portfolio for him. We, ahem, AIM to please.
Published 246 days ago
Are there any rules at all governing the withholding of damaging price sensitive information by AIM listed companies? Yes there are. The FCA under market abuse directives and and AIM Regulation both have the power to throw the book at CEOs and Nomads who offend. But will they? Gable (GAH), its CEO William Dewsall and, almost certainly, Nomad Zeus have broken the laws. I have written the letter below to the Oxymorons at AIM Regulation and its boss, the bogus Sheriff Marcus Stuttard, as well as to the chocolate teapots at the FCA demanding urgent action
Published 259 days ago
You will remember that the fraudsters at African Potash (AFPO) sent me a fascist letter on Thursday 1st September stating that if by 4 PM on Friday 2nd September I had not agreed to pull all my articles on Potash, promise not to write again and to pay over a large cheque, Potash would "have no choice" but to take legal action. Natch I told the bitchez I'd see them in Court. So what has happened now?
Published 260 days ago
We warned you often enough. When companies have no revenue, are burning cash, have no cash and are drowning in debt, things are not going to end well for shareholders. On the back of an RNS today, mug punters have taken such an almighty rogering that I hear that in Bulletin Board Moron land the shops have already run out of vaseline. So here is a ShareProphets translation service of that RNS (our words in bold).
Published 260 days ago
My good friend, the king of the fraudsters Sam Antar, was on cracking form this week reminding us all of how he used to hoodwink auditors KPMG over many years when masterminding the Crazy Eddie's fraud. You can see the genius Sam explaining all HERE. I am keen that the fine firm of RSM UK Audit LLP, does not find itself made to look like KPMG style fools, and have thus penned it an open letter today on the subject of both impending bankruptcy and also fraud at its client African Potash (AFPO). I am such a nice guy trying to help out these simple City folk don't you think? The open letter follows:
Published 263 days ago
In a quite astonishing statement released yesterday, the non-exec Chairman of AIM death-row inhabitant Galasys (GLS), Mr Kim Seng Teh, has given his account of an unbelievable systemic failure on the AIM Casino to control the behaviour of the board of a member of the world’s most successful growth market. WH Ireland, as the Nomad responsible for this train-wreck until a few days ago, has a number of serious questions to answer, as does AIM Regulation – which, I hope, will be asking a good few questions of its own. I wouldn’t like to second-guess who is the villain in the boardroom and who is the innocent party, but I am sure of one thing: heads must roll in the oversight department.
Published 266 days ago
In the December 2015 from my winter base in Greece I ran a series of articles, starting from Athens with Love, which, I believed, quite clearly showed that the Greek, AIM listed company InternetQ (INTQ) was a fraud. Specifically I demonstrated that its music streaming business Akazoo was a sham. The company denied this and in the end its boss Panagiotis Dimitropoulos and fund manager Tosca paid c£20 million to buy out minority shareholders and take InternetQ private. A cute deal or burying the truth in private? This is going to shock you.
Published 266 days ago
I read with alarm the deluge of shocking revelations regarding AIM-listed African Potash (AFPO) from the Sheriff of AIM, Tom Winnifrith. The most recent – and possibly most surreal – development was the lawyers’ letter from the twice-bitten-but-still-not-shy Memery Crystal on behalf of its client, Potash. Tom Winnifrith has already suggested that the letter makes a number of stunning admissions, but in my view the implications of the African Potash affair for Nomad Cantor Fitzgerald Europe need to be addressed urgently.
Published 266 days ago
Oh dear. It seems that we have a slam-dunk breach of AIM Rules in the form of extremely honest Chris Cleverly’s AIM-listed African Potash AIM and its dealings with its Nomad Cantor Fitzgerald. It is Cantor and its lead QE Stewart Dickson who are in the spotlight today as we have at least 1 clear rule breach under its watch to report. We will start with a minor transgression and work upwards. Perhaps while Marcus Stuttard’s oxymorons at AIM Regulation consider the serious content of Tom Winnifrith’s recent missive (HERE) they might turn their attention to the quality of Nomad oversight demonstrated in what follows.
Published 267 days ago
Yesterday I explained how AIM listed Cloudtag issued an RNS four days before a placing boasting of $5.2 million of guaranteed orders which was simply not true. To me this is blatant fraud and as such I have written to AIM Regulation (the Oxymorons) and the FCA (The Chocolate Teapots) asking both to investigate both Cloudtag and also its Nomad Cairn which appears, at best, to have been asleep at the wheel for almost nine months. I know that Cairn boss Tony Rawlinson goes skiing each year with a senior figure in AIM Regulation but this scandal cannot be brushed under the carpet.
Published 268 days ago
Well of course it is not. At least, that is what AIM Rules for Nomads tells us, in the 2016 edition. So if a company has told a demonstrable lie, surely the Nomad should either resign in protest or be publicly strung up with piano wire by Marcus Stuttard’s team of oxymorons at Aim Regulation. I quote from the Nomads’ rulebook (emphasis in bold is mine):
Published 269 days ago
I have today published the lawyers letter sent by Memery Crystal - lawyers to Globo - but which also acts for the fraudsters African Potash (AFPO) demanding money from me, trying to gag me but also admitting that its client has committed securities fraud. The letter also implies that Nomad Cantor Fitzgerald approved releases (and lack of releases) which meant investors in a placing on 12 January 2016 were utterly deceived as to the trading position at Potash. And that is a clear cut case of fraud. But will Marcus Stuttard, the head of AIM Regulation do anything about it or is fraud now acceptable on AIM? I have written to the man who basks in the title "The Sheriff of AIM" as you can see below.
Published 271 days ago
I still await a letter from lawyers to lyin' Chris Cleverley and the fraud that is AIM Casino listed African Potash (AFPO) but since the disclosure process will destroy both lyin' Chris and his company I cannot wait. Meanwhile AIM Regulation has sent a standard response acknowledging anot noting my demand that it investigates Potash and its Nomad Cantor Fitzgerald over the misleading and untruthful RNS statements of December 1 2015 and January 6 2016. I have replied to AIM Regulation putting it on notice...
Published 273 days ago
The message to my daughter on why I'm rooting for Donald Trump really is now live now and can be found HERE. Meanwhile, over the past week we have demonstrated clearly that there is an almighty stink about both Cloudtag (CTAG) - HERE - and also African Potash (AFPO) - HERE. I have presented the evidence to the FCA and AIM regulation, I explain why this is now an acid test for the credibility of the casino and who exactly is in the firing line.
Published 273 days ago
I have already requested that the FCA and AIM Regulation investigate the deliberate way that investors were misled by African Potash PLC (AFPO) ahead of the January 12 2016 bailout placing with an RNS on December 1 2015 as you can see here. Now evidence is emerging of an even bigger deception in an RNS on January 6 2016 just six days before a bailout placing. I have thus written to both the FCA and AIM Regulation asking both to widen their investigation into both Potash and also Nomad Cantor Fitzgerald and its lead QE, Mr Stewart Dickson. This is a clear case of Securities fraud.
Published 273 days ago
Yesterday I pointed out that the RNS relating to the supposed $5.2 million order that AIM listed fraud Cloudtag (CTAG) had secured from UK distributor had, within months been shown to be a lie - as you can see HERE the guaranteed quarterly order just had not occurred. Now let's move on to whether Second Chance has any chance of fulfilling the "guaranteed" $5.2 million order for calendar 2016. Let's go to Companies House.
Published 274 days ago
Nick Davis is the CEO of City law firm Memery Crystal but also sits on the board of the prestigious AIM Advisory Group. That has to end now as his role in the African Potash (AFPO) fraud comes to light. I warn African Potash that my man in London is set to supply more documents relating to yet another deal where it grossly misled investors ahead of a placing. There is worse to come and more for the SFO, FCA, FRC and AIM Regulation to get their teeth into. Now back to Davis.
Published 275 days ago
I have already alerted the FCA, AIM Regulation and the FRC to the growing scandal at African Potash (AFPO) with regard to the non disclosure of a £600,000 bung on December 1 2015 as part of a pre placing ramp. Now it is onto the Serious Fraud Office, SFO, to whom I have written today.
Published 277 days ago
Stewart Dickson of Nomad Cantor Fitzgerald is today exposed for his role in the scandal at African Potash (AFPO) as the company misled investors ahead of a bailout placing, as it committed fraud. You can read about Dickson's role HERE as we launch the "Fire Stewart Dickson to clean up AIM campaign."
Published 278 days ago
I have this morning sent a missive to the fine upstanding, inscrutable and completely effective folks at AIM Regulation regarding the ongoing farce that is AIM-listed Galasys (GLS), which is currently suspended as its Nomad (WH Ireland) resigned last week with immediate effect. This morning, as reported HERE, yet another NED walked the plank with immediate effect, for “personal reasons”, following the Company Secretary, the Nomad and Broker and another NED out of the door, leaving the company with no registered office and a fast dwindling boardroom which is at war with itself.
Published 279 days ago
AIM-listed China and South East Asia play Galasys (GLS) has seen a stunning procession out of the door of late. One NED last December, the Company Secretary (not yet replaced) and Registered Office (not yet replaced) last week, another NED twelve days ago, the Nomad and Broker last week, and now yet another NED today. Surely there is no way back for the company now – yet the company’s RNS today was apparently signed off by WHI as Nomad and Broker!
Published 279 days ago
Yesterday's expose here of AIM listed African Potash (AFPO) demonstrated quite explicitly and without doubt that the company was guilty of fraud - that is to say raising money, with the assistance of Nomad and broker Cantor Fitzgerald - having materially misled investors. I have today passed on the supporting documentation to three different regulators asking all three to open investigations into African Potash. My open letter explaining why follows.
Published 279 days ago
On December 1 2015 AIM listed African Potash (AFPO) announced what appeared an incredible marketing deal for its fertiliser with a company called Beryl - of course nothing has come of the deal and what African neglected to mention was a £600,000 bung. A source in London has sent me the signed contract. One month and 12 days ahead of a bailout placing investors were grossly mislead as to the nature of the Beryl deal. Potash shares need to be suspended at once and AIM Regulation and the FCA have to get involved.
Published 280 days ago
AIM Cesspit listed City of London (CIN) is surely a sinking ship. If Nomad Peel Hunt had a shred of integrity it would surely quit now on news that a third director has quit in six days leaving just one rat on board - chairman Paul Milner. The shares are off by 24% today to 3p but fair value ahead of suspension, administration or both is surely 0p. The Company is now in Breach of the Companies Act 2006, S154(2)which requires a public company to have at least two directors. Do hapless Nomad Peel Hunt or the oxymorons at AIM Regulation care about companies breaking the law? It appears not.
Published 281 days ago
They are still dropping like flies. This morning the ShareProphets AIM-China Filthy Forty saw its 23rd victim as LED International Holdings (LED) had its one-way trip from AIM’s Death Row to the lethal injection room. There are now just 17 of the original forty remaining, of which one is currently suspended. This is an incredible indictment of AIM, and the recent history of LED is the sour cherry on the rancid icing on the mouldy cake.
Published 291 days ago
AIM Rule 11 states that listed companies must notify investors via an RNS of material developments. But it seems that cash munching, drowning in debt, piece of Turkish Iofina (IOF) does not think the rules apply to it. No doubt it is aware that the Oxymorons at AIM Regulation won't enforce anything so it has opted NOT to tell you about a US legal setback on Monday.
Published 311 days ago
Today I must ask the very serious question: are the staff at the UKLA down at Canary Wharf all crack whores or are they just the stupidest folks in Britain. I ask this question because of the latest news from fraud Worthington (WRN).
Published 313 days ago
Marcus Stuttard, head of AIM! Xavier Rolet, head of the LSE. Oxymorons of AIM Regulation! Your boys took one hell of a beating, one hell of a beating!! Yes folks, it is game, set and match to the Deputy Sheriff as the immediate resignation of both the Nomad and the Chairman of ShareProphets AIM-China Filthy Forty play LED International Holdings (LED) was announced today at eighteen minutes past midday.
Published 319 days ago
The clock is ticking for ShareProphets AIM-China Filthy Forty play LED International Holdings (LED). Actually, the clock ran down to zero last month but still AIM Rule 41 has not been invoked. AIM Regulation is well aware of the situation and has elected to do nothing: the chocolate teapots appear to be happy to flout their own rulebook in blatant fashion.
Published 323 days ago
It seems that we at ShareProphets are not the only people concerned about the amount of fraud we see on the London markets – and, in particular, on AIM. We have seen the horror of the biggest stockmarket fraud for thirty years (Quindell, QPP – now Watchstone, WTC) unfold before our very eyes and yet as Tom Winnifrith doggedly banged on the doors of AIM Regulation and the FCA they did nothing and the frauds continued unchecked for far longer than they otherwise would.
Published 324 days ago
On Friday July 1 NunaMinerals was put into administration. I therefore suggested a day or two later, that the RTO whereby Nuna took over Main Market fraud Worthington (WRN) was off and that on Monday 4 July the UKLA would have to take action. Amazingly the chocolate teapots have done nothing. Truly these folk make the oxymorons at AIM Regulation look like a collection of Nobel prize winners. But it gets worse.
Published 325 days ago
ShareProphets AIM-China Filthy Forty member LED International Holdings (LED) has been suspended from trading since 22 Dec 2015 – we are well into month seven of suspension, then. AIM Rule 41 says: “The Exchange will cancel the admission of AIM securities where these have been suspended from trading for six months”. Yet LED has still not been given the order of the boot by AIM Regulation. I dropped our friendly Oxymorons a line….
Published 332 days ago
ShareProphets AIM-China Filthy Forty play LED International Holdings (LED) finally got around to releasing its FY numbers to June 2015 just a few days ago - almost six months late. As discussed HERE the Red Flags are horrific: the auditor (BDO) issued a Disclaimer of Opinion, as well as raising a material uncertiainty in the going concern statement. Quite why the Nomad, Allenby, did not quit on the spot is a mystery to me. But the shares are still suspended as the interims to Dec 2015 are now three months overdue. And that brings me to AIM Rule 41:
Published 333 days ago
It was 11 years ago that 3DM as was, Environmental Recycling (ENRT) as is and its sister company Eden Research (EDEN) were sending me lawyers letters. Both were frauds. Both are still frauds. Today Environmental lost its Nomad and as it is bust it is game over. Now I am going for Eden but in this podcast I tell the amazing story of both frauds, explain who was involved and is disgraced, accuse certain City folks of lying and worse as part of the cover up and demonstrate why this should have ended years ago but did not down to failings ( again) at AIM Regulation as well as disgraced Nomad WH Ireland. I warn you there is some bad language as I am pretty emotional right now. Enjoy, this is no holds barred stuff and it will shock you.
Published 334 days ago
This morning ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG) released its calendar FY15 results. This is a complete farce and AIM Regulation should be ashamed, for that is where the real scandal lies.
Published 338 days ago
Do you get emails from Nigerian Generals promising you millions of quid and respond by sending over your bank details? Are you that stupid? If so we have an AIM stock for you where the dividend is 70%. Wow. And it gets better still.
Published 345 days ago
The earlier piece on the Drummonds, Nilesh Jagatia and the Media Corp scandal needs to be read in full. What horrifies me is that it shows that AIM Regulation knew everything in July 2014 but failed to act. The Bogus Sheriff of AIM, Marcus Stuttard, should either resign on Monday morning or find out who failed to protect investors, sack him and agree to compensate anyone who has lost money in Teathers Financial (TEA) and possibly Inspirit (INSP) as well. I warn you that I use bad language in this bonus podcast as I am furious with the Oxymorons at AIM Regulation over this appalling failure.
Published 381 days ago
Yup I am still clean and 99.9% of the time very glad to be. But I know that if I have just one fag it will be all over. So I will not. I digress. Today's podcast covers my little internet difficulties here in Kambos then goes onto Aureus Mining (AUE), Circle Oil (COP), IGAS (IGAS), LGO Energy (LGO) and Gulf Keystone (GKP). Finally I urge regular listener Marcus Stuttard, head of the oxymorons at AIM Regulation, to read the utterly shocking Phil Edmonds and Andrew Groves tale HERE as it shows what a shite job the bogus Sheriff is doing.
Published 384 days ago
Following on from my recent piece on Toople (TOOP) being its newest member and the almost predictable, disappointing news relating to Opera Investments (OPRA) earlier in the week, the time has come for a call to arms. There must be change to the rules governing the clearly Sub-Standard Listing segment of the Official List as it is not fit for purpose. I need your assistance.
Published 388 days ago
It is hard to know where AIM listed Ascent Resources (AST) has more problems - out East in Slovenia operationally or back in London where its total disregard for the AIM Rulebook should see it firmly in the soup. Here we are with a blatant rule breach, hands up who thinks bogus AIM Sheriff Marcus Stuttard will do anything about it? Er...I make that no-one.
Published 397 days ago
Not only did I get into the AGM of the London Stock Exchange (LSE) but in response to one of my two questions chairman Donald Brydon fessed up to being a reader of my work, saying how glad he was that I had got in this year. And as I chatted to my new best friend afterwards up wandered the bogus Sheriff, Marcus Stuttard, head of the oxymorons at AIM Regulation and guess what?...He's a reader too.
Published 399 days ago
Anadalas Energy (ADL), the much ramped piece of Turkish, once called CEB Resources, and run by Dave "rule breaker" Whitby had until close of play on 22 April to publish a re-admission document or it should - if anyone gave a FF about the rules these days - have been booted off the AIM casino. It is now 25th April. There has been no RNS. So....
Published 400 days ago
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.
Published 402 days ago
Oh dear. Hulsey Smith filed a counter claim against Strat Aero (AERO) and four of its directors and we have obtained a copy. It is damning and until these allegations are refuted the stock is 100% uninvestable. Some of them are so severe that AIM Regulation needs to step in, suspend the shares and order a formal investigation. Did, for instance, the board give the CEO a "bonus" to allow him to make share purchases to "bolster the share price", This document begs for an immediate share suspension.
Published 402 days ago
Shareholders in African Potash (AFPO) should be on the warpath. Not with myself and Lucian who they have, to date, berated for pointing out what a piece of Turkish this company is. But with its management for issuing statements which are just not true - as explained HERE. Following my earlier article I have now asked AIM Regulation to launch a formal enquiry into both Potash and also its Nomad, Cantor Fitzgerald, which signed off on its RNS statements having somehow verified them as true. The letter reads:
Published 408 days ago
Im not feeling terribly well so this may be the only bearcast of the weekend. We shall see. However I look at the Phorm debacle on AIM which saw £201 million sent to money heaven. I name the guilty men and look at the lessons learned (or ignored if you are AIM Regulation). Then I show why George Osborne is lying about mortgage rates under Brexit as he wages war for Project Fear.
Published 418 days ago
AIM-listed Imaginatek (IMTK) has just responded to Press Speculation - one assumes the Daily Mail story Rob Terry is planning a takeover - but pointedly failed to deny the story. Is Rob Terry about to launch a bid and return to the Casino? I though April Fool's day was last Friday....
Published 444 days ago
Well you can’t say you weren’t warned: ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) was finally suspended pending clarification of its financial position this morning. It was blindingly obvious that this - or a Nomad resignation - was inevitable. I hope anyone unlucky enough to hold this POS managed to get out even if only with a bag of Tesco Value crisps. Perhaps I should head to Bristol and claim a glass (or two) of Ouzo to toast the Filthy Forty’s 23rd suspension/delisting.
Published 446 days ago
This morning LGO Energy (LGO) admitted that US investors were - after all - not going to spunk $20 million on bailing out the debt ridden, AIM listed disaster story. I can reveal that a plan B is now underway. Jabba The Hutt is back in town...
Published 456 days ago
We have today penned an open letter to George Osborne regarding the ever-growing scandal of the ShareProphets AIM-China Filthy Forty. Mr Osborne, you will remember, is keen to see greater links forged between the London and Chinese markets. Under the circumstances we are deeply concerned about this and call for a full investigation.
Published 458 days ago
Shares in ShareProphets AIM-China Filthy Forty stock Auhua "Clean is my middle name" Energy (ACE) are down another 28% this morning after the company confirmed that it has not yet been able to sign up a new Nomad to replace Grant Thornton which steps down with effect from Monday morning. As such Auhua will become the twenty-first company of our Filthy Forty to have left the Casino or be suspended.
Published 458 days ago
We warned you two days ago that Independent Resources (IRG) was trying to spoof investors with a bogus announcement in order to get a discounted placing away...it has not taken long, the placing today is a shocker. the FCA and AIM Regulation must investigate.
Published 473 days ago
We have clearly demonstrated that Eden Research (EDEN) managed to get a covert placing away with its panama pump securities fraud deal announced with Terpenetech Ltd on August 24 2015 and revealed HERE. But this is not the first time that Eden has hoodwinked its investors with Terpenetech..let's go back to 23 June 2011.
Published 475 days ago
Following the horrific revelations about AIM Casino listed Eden Research (EDEN) on this website HERE and HERE yesterday I have now written to AIM Regulation demanding an immediate investigation and the suspension of trading in the shares of this worthless company. The letter reads.
Published 479 days ago
Last year the London Stock Exchange (LSE) managed to deprive me of access to its facistic AGM even though its press office had previously said I could attend. This year they will not stop me as I have just dematerialised my two shares ( the certs are with me) and so will arrive in London in late April will all the documents I need to get in. So what trouble will I cause?
Published 487 days ago
That Jiasen (JSI) is a total fraud is now beyond all reasonable doubt. I actually have more information on this company which the Nomad (Cairn) and AIM Regulation are sitting on but will they bother to do anything? So how has money been transferred from British investors to the fraudsters back in China?
Published 488 days ago
Tom Winnifrith has made no secret of his contempt for AIM (and TSX) listed POS Arian Silver (AGQ), having quite correctly called it a sell many times. But the latest RNS – a no-one-is-watching o’clock placing announcement really takes the biscuit. Yesterday the shares closed at 1.9p, having dropped 25% over the day and lo-and-behold we have an after-hours placing at just 1p.
Published 500 days ago
Since he is in Dubai right now, Yusuf Kajee of Afriag (AFRI) may not have been told that the venue of his fraud trial on 20 January has been moved. I'm always happy to help the old smearer out so...
Published 502 days ago
Yusuf Kajee of Afriag (AFRI) has yet to answer any of the questions I sent him over Christmas. Now here is another for him: "When were you going to tell us about your Court case in South Africa on 20 January?"
Published 512 days ago
Throughout the Christmas period one of the two principals of AIM listed Afriag (AFRI) has trolled me on twitter, sending me almost 150 tweets accusing me of extortion, taking bribes, of being a coke addict, a drunk, having no qualifications other than serving pizza, of being mad - based on the fact that my mother killed herself- , etc. Yusuf also offered me a bribe to buy shares in Afriag. He has failed to answer critical questions about Afriag (AFRI) and today came up with the most lamentable excuse yet for not answering.
Published 517 days ago
He learned from the master of twitter abuse David Lenigas. Do not answer mammoth questions raised over Christmas about tobacco smuggling & criminal enquiries underway (HERE) or why shares in Afriag MUST be suspended (HERE), instead Mr Yusuf Kajee has sent me more than one hundred abusive tweets making the most lurid of (unfounded) allegations. You can see some below.
Published 522 days ago
Two days ago I accused LGO Energy (LGO) of misleading investors big time - HERE. Today, when it thinks no-one is watching, it has put out a grovelling correction but someone is still lying. Neil Ritson you useless little shit another correction is still needed.
Published 524 days ago
On 3 Feb 2014 the then AIM-listed Lenigas ramp UK Oil and Gas (UKOG) announced that it had purchased a 6% stake in Angus Energy Limited (now called Angus Energy Holdings UK Limited) – see HERE. The price disclosed for this transaction was £368,000, to be settled in UKOG shares to be issued at 0.8p (implying the issue of 46 million shares).
Published 524 days ago
I will now demonstrate how LGO Energy (LGO) appears to have mislead investors in a cavalier and wilful fashion on a very material transaction and fund raise in 2014. It appears to have breached AIM Rule 11 flagrantly but does anyone care any more? Is the Sheriff of AIM the only person left who actually reads the AIM Rule book and takes it seriously?
Published 525 days ago
This morning fat Aussie share ramper David Lenigas has, without warning, resigned from the boards of all five AIM Casino Companies on which he sat: Inspirit (INSP), Afriag (AFRI), Rare Earth Minerals (REM), Bacanora (BCN) and Evocutis (EVO). Why?
Published 529 days ago
Does anyone at AIM actually care whether David Lenigas tells the truth in any RNS statements any more? It appears that Nomad Cairn and AIM regulation do not give a FF. I shall now demonstrate to you a slam dunk and material untruth in an Afriag (AFRI) RNS.
Published 530 days ago
Yesterday I cited three facts about Marsden Resources Ltd which I suggested that David Lenigas had to explain as a matter of urgency, if not to me then to AIM Regulation. So far there has not been a word from Jabba.
Published 530 days ago
A kind reader points out that Rob Proctor of Audioboom (BOOM) has committed a clear breach of AIM Rules in a podcast recorded with Justin the Clown on ADVFN on Tuesday this week following the latest dire (lack of) profits warning.
Published 536 days ago
I believed in Insetco (INC) briefly but then warned folks to sell quite explicitly as new information came up. I labelled it a bargepole stock HERE - you cannot say that you were not warned. I can only hope that the BB Morons who say they buy everything I say sell did just that. The moral here...
Published 540 days ago
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.
Published 545 days ago
ShareProphets AIM-China Filthy Forty member JQW (JQW) saw a big 25% nose-dive in its share price today, on high volume. In the process it recorded a new end-of-day low, yet there is no news from the company. Are we witnessing the final death throes?
Published 554 days ago
Things have gone a bit quiet at cash strapped African Potash (AFPO) since a raft of bullish announcements lifted the shares tenfold a couple of months ago.
Published 555 days ago
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
Published 557 days ago
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.
Published 566 days ago
This morning International Mining & Infrastructure (IMIC) quietly left the Casino. Following the resignation of Strand Hanson as the company’s Nomad on 8 October, IMIC was unable to find a replacement. Under the AIM Rules for companies, the requirement to have a Nomad is one of the few rules AIM Regulation bothers to enforce. We are none the wiser as to why Strand Hanson resigned nor do we know why IMIC could not find a new Nomad. As far as transparency goes this is not acceptable. If the company is so toxic that even Beaumont Cornish won’t represent it, shouldn’t shareholders have the right to know why?
Published 566 days ago
Having been warned off by the thuggish PR to David Lenigas (HERE) I have asked AIM Regulation to get the low down on Big Dave's trades or otherwise in LGO Energy (see HERE). And then what next? Aha Octagonal (OCT), an AIM listed company where the aforementioned Mr David Lenigas is involved - needless to say its shares have slumped. Then it is onto Nanoco (NANO) and Wandisco (WAND) as well as Lonmin (LMI). Finally I commend to you last night's BBC programme by Hugh Fearnley-Whittingstall on waste and the supermarkets. Can Malcolm Stacey reallysay the are ethical investments? I commend you all to watch it. Remember I grew up in a hippie self-sufficent family so maybe I am biased but I was horrified.
Published 567 days ago
This morning at 7am it was announced that the ShareProphets AIM-China Filthy Forty had lost yet another of its members. This time is was the turn of China Rerun (CHRR) to be executed quietly at dawn, making it the sixteenth of our forty to leave AIM. It is also the eleventh to be booted off the Casino following the resignation of its Nomad just this calendar year. There simply has to be a stewards' inquiry.
Published 578 days ago
ShareProphets AIM-China Filthy Forty play GTS Chemical (GTS) has released a Q3 trading update which is full of unmitigated good news. Revenues up 34% on the same period last year, margins steady, new plant on-stream and more on the way, capacity up, distributors up: the good news is unrelenting. What's not to like?
Published 578 days ago
I sincerely hope that the oxymorons at AIM Regulation and the chocolate teapots at the FCA look into what surely must be one of the most blatant cases of insider dealing I have ever seen. No news on the tables, yet the shares are up 53% today and this evening, after-hours, the company has been forced to issue the following RNS:
Published 581 days ago
Shares in CEB Resources (CEB) will now be suspended for weeks if not a couple of months because – as I pointed out here on Friday – it is about to undertake transactions that amount to a reverse takeover (RTO). But the big question is why has CEO Dave Whitby not been fired for wholesale rule breaches?
Published 585 days ago
AIM-China Filthy Forty member Auhua (ACE) issued a statement re share price movement yesterday afternoon. Come off it chaps, this just isn’t good enough. The statement reads:
Published 587 days ago
You will remember that AIM POS Golden Saint Resources (GSR) is out of cash and is burning cash at up to £200,000 a month. It is insolvent. Its Nomad Roland “fatty” Cornish is too busy thinking of his next five course lunch to push the company on this and have the shares suspended pending clarification. When this goes tits up, his failure on this point will be raised with AIM Regulation. But at least there is the crowd funded debt death spiral to raise £250,000 which is now 11 days into its 90 day campaign, there to save Golden. How is it doing?
Published 591 days ago
An AIM Notice was put out yesterday which shows that there may at least be some vestige of a pulse amongst the regulators of the AIM market. You can read it HERE. With the burgeoning number of sub-scale cash shells on the London Stock Exchange’s junior market which are simply frittering away shareholders’ cash on corporate costs but not achieving anything which will make a return, it is being proposed that the AIM rules be changed so that any new listing of a cash shell is subject to the raising of £6 million (up from £3 million), and that cash-shells resulting from corporate restructurings are given just six months to complete a deal before shares are suspended.
Published 592 days ago
Hot on the heels of the announcement that Vmoto is to delist from AIM, ARC Capital (ARCH) has announced that it has failed to find a replacement Nomad and will be booted off the Casino as of 7am this morning. Execution number 13 (and Vmoto is number 14). There are still another three on death row following Nomad resignations to make a total of 17. Are you watching this Marcus Stuttard, the Sham Sheriff?
Published 592 days ago
On 21 September I received an incredibly snotty letter from New World Oil & Gas (NEW). The letter was marked strictly private and confidential, so I won’t publish it. However, now that New World has decided to smear NWOGaction in our latest TR1, I will publish my response to Peter Sztyk. What’s the Ukrainian for “piss off”?
Published 606 days ago
Why won’t the London Stock Exchange accept the need for reform of AIM? So long as the LSE maintains the pretence of running “the world’s most successful growth market”, while wilfully refusing to acknowledge or deal with AIM’s manifest faults, it leaves itself open to competitive challenge. Perhaps the LSE has decided it lacks the competence to run and police a small cap market or perhaps it has decided it just isn’t worth the hassle. It certainly can’t believe it is doing a good enough job after all the controversies that have happened on its supposed watch. Whatever the case, if the LSE does not take action soon it could well find AIM implodes, intentionally or otherwise.
Published 607 days ago
This morning’s interim report from Sefton Resources (SER) does not make for happy reading for shareholders. After yesterday’s news that the company has run up the white flag to Team Shotgun, today’s numbers pour a bucket of ice water over the Clem Chambers/Mike Hodges fantasy. Sefton had limited resources. It had a plan. Ex-CFO Raylene Whitford was making headway in incredibly difficult circumstances and should have been supported, not attacked. Now, thanks to the interference of the market abuser and the bank robber, it will be lights out by Christmas, unless the company can issue more confetti. Oh, and convince Ray Zimmerman to take on this basket case.
Published 608 days ago
We all knew that at the October 6 EGM, team Chris Oil would win and that the current directors – bar Jossy Rachmantio would be booted out to be replaced by ADVFN’s (AFN) Clem Chambers and Mike Hodges. Sefton (SER) has now thrown in the towel but the drama is far from over.
Published 615 days ago
Blow me down with a feather – there is someone in the world even more of a cynic than me! We have already covered the fact that AIM-listed (for the time being, it appears) Global Market Group (GMC) has been without a Nomad now for one month and one day – and that under AIM Rules it should therefore have been formally shown the exit this morning: one month without a Nomad = delisting under AIM Rules. But there has been no announcement. We wonder why. Is AIM Regulation asleep at the wheel or is there some other reason? Over to uber-cynical ‘Keith’ to explain…..
Published 615 days ago
Further to Tom Winnifrith's piece HERE which highlights that ShareProphets AIM-China Filthy Forty member Global Market Group (GMC) has now been without a Nomad for a month and a day, yet there has been no announcement that it has been formally booted off the Casino I have dropped a line to AIM Regulation. Is it the case that ShareProphets is now the regulator? The letter reads:
Published 615 days ago
The Nomad to China AIM casino POS Global Market Group (GMC) was Grant Thornton. It quit on August 21. S with no new Nomad having been announced you would expect confirmation today this its casino life was over. There is no RNS.
Published 616 days ago
There are numerous reasons why the AIM casino system of regulation based on Nomads fails miserable to protect investors from lying and fraudulent directors. But one major failing is what happens when a Nomad resigns and to demonstrate this I have got my hands on the letter sent by Fox Davies when it quit as Nomad to Sefton Resources (SER) in September 2012 and am delighted to share it with you. Private & Confidential it is marked. Well not any more chaps!
Published 617 days ago
I have obtained the explosive exchange of emails which saw Fox Davies resign as Nomad to Sefton Resources (SER) in 2012. They vindicate me once again in the libel case I won against this POS but show that CURRENT Sefton director Tom Milne is not a fit and proper person to sit on an AIM board and must be SACKED at once.
Published 627 days ago
Oooooh you are awful said market abuser Chris Oil, played by Kenneth Williams, this morning as Sefton Resources (SER) slammed into him and bank robber Dan Levi, played by Sid James. Barbara Windsor, Raylene Whitford, put on her undersized swimsuit and giggled as she waded teasingly off towards a swimming pool to plan how to spend her redundancy money. Welcome to another episode of Carry On Up the Sefton.
Published 629 days ago
Emmit PLC (EMT) was booted off the AIM casino in May of this year but said that – notwithstanding a parlous financial position – it hopes to make a comeback once it has completed an RTO. I suggest that it has zero chance of this given the revelations below, revelations which show that its former Nomad Daniel Stewart (DAN) was not fit for purpose. Daniel Stewart deserves a massive censure and fine for the scam it allowed to take place. A scam that has cost investors millions.
Published 633 days ago
Following on from THIS ARTICLE from earlier today, I have written to AIM Regulation and asked them to step in. This is an important matter, because shareholders in AIM-listed Tern plc have just seen more than 1% of their company near-enough handed out for almost nothing, by way of an unexplained warrant exercise which they would have been unaware of. This is not an acceptable situation because the implication is that ownership rights on AIM can become arbitrary.
Published 634 days ago
As previously flagged HERE there is some mystery regarding a warrant exercise announced by AIM-listed Tern plc (TERN) on 17 August (see HERE). I wondered where these warrants, which were exercised at 0.02p, had come from. Following quite a bit of enquiry, it is still unclear. What is also unclear is where the responsibility may lie. So this is not an attack on Tern plc, or its Directors, or its Nomad. It is more a case of how the current regulatory set-up has once again failed investors. In this case it is in a small way, but next time?
Published 638 days ago
Yesterday, in a Bearcast special, I explained why the circular published by AIM Cesspit posterboy Hotel Corp (HCP) at no-one is watching O’Clock on Friday contained slam dunk lies designed to mislead investors into not voting out fat cat crony capitalist tax-haven dwelling chairman Derek Short. Today I have written to the company’s Nomad, Simon Clements of Sanlam demanding that the circular be withdrawn and that the directors be censured. In case Mr Clements dithers I am cc’ing AIM Regulation and the FCA to ask them to force his hand.
Published 648 days ago
Yesterday Flip Flop Ben Turney gave a platform to an AIM CEO who was bleating about how his share price kept tumbling and blamed bashers, insider dealers and more or less everyone. The man is either a big girl’s blouse or a snake.
Published 651 days ago
Some CEOs have clearly abused twitter telling outright lies (Rob Terry) and being somewhat aggressive with the Truth (Mr 3D I meant 2D seismic). But having failed to deal with major scandals of fraud and lying the oxymoron that is the AIM Regulation is wading in with draconian edicts that will achieve nothing.
Published 654 days ago
Jersey Finance is terribly keen to get Chinese companies to register in Jersey and list their shares on the London Stock Exchange, notable on the AIM casino. What a marvellous set-up they offer: it is the jurisdiction of choice for corporate entities seeking to list, one fifth of Chinese companies listed in London are registered in Jersey, there is political and economic stability, a sound regulatory reputation and, of course, Jersey Finance has a representative office in Hong Kong (since 2009) just to ease things along. What’s not to like?
Published 656 days ago
Auditors Crowe Horwath Associates have performed the local audit for five China AIM casino companies and at three we have already seen wholesale fraud as purported cash balances either were made to disappear or never existed at all. The Financial Reporting Council, FCA and the oxymoron that is AIM Regulation need to act NOW and shares in Camkids (CAMK), Jiasen (JSI), and Asia Ceramics (ACHP) must be suspended at once.
Published 657 days ago
Yesterday we demonstrated quite clearly (HERE) why Camkids (CAMK) has committed accounting fraud and why the statement of yesterday just does not add up. We have been saying that this company is a fraud for months and months and that is now clear to all. The local auditors of Camkids and the now delisted fraud Naibu acted for three other AIM stocks, one of which is JQW (JQW). The other was Sorbic International, a now delisted fraud. JQW is also a fraud and we call for an immediate suspension of its shares as well.
Published 657 days ago
Earlier today we demonstrated quite clearly (HERE) why Camkids (CAMK) has committed accounting fraud and why the statement of yesterday just does not add up. We have been saying that this company is a fraud for months and months and that is now clear to all. The local auditors of Camkids and the now delisted fraud Naibu acted for two other AIM stocks, one of which is Jiasen (JSI). It is also a fraud and we call for an immediate suspension of its shares as well.
Published 657 days ago
Earlier today Nigel Somerville and Tom Winnifrith demonstrated quite clearly (HERE) why Camkids (CAMK) has committed accounting fraud and why the statement of yesterday just does not add up. We have been saying that this company is a fraud for months and months and that is now clear to all. Now it is time for Nomad Allenby to show principle and quit on the spot and if it is so desperate for fees that it will not for AIM Regulation to force a suspension. We explain why in this open letter:
Published 659 days ago
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.
Published 659 days ago
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.
Published 661 days ago
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
Published 663 days ago
Normally Big Ray Zimmerman of ZAI Corporate Finance, nomad to a stack of China frauds, puts his name to lies pumped out by the Norfolks on the AIM Casino. But by way of change I have been passed evidence of Big Ray telling porkies in a regulatory announcement about his own company.
Published 663 days ago
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?
Published 663 days ago
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.
Published 678 days ago
Tom Winnifrith may be on sabbatical but we would not want the Financial Reporting Council, FCA and AIM Regulation to get bored and so in light of today’s shocking revelations about the shambolic accounts of disgraced Daniel Stewart PLC HERE, we have AGAIN written to the regulators demanding an investigation. The letter reads:
Published 679 days ago
I have this morning from the train contacted the Financial Reporting Council, AIM Regulation and the FCA regarding the 2012 and 2013 accounts of Daniel Stewart PLC regarding the issue I raised yesterday HERE. It has long been my contention that DS is not fit to be a listed company and in that spirit I have asked that its accounting which appears, at best, to be aggressive, be formally investigated. The letter follows.
Published 685 days ago
This morning, Metal Tiger (MTR) announced that its outstanding unsettled position in New World Oil & Gas (NEW) has been settled. Two months late, the failure of regulated market participants to fulfil their contractual terms has materially and detrimentally impacted the fortunes of hundreds, if not several thousand, private shareholders up and down the country. The shareholder action group could not reach the 10% threshold to requisition a general meeting directly because of this. While the London Stock Exchange failed miserably to enforce its own rulebooks, the FCA stood idly by and did nothing. This whole episode is dreadful for the reputation of AIM and calls into question how trustworthy or viable is this market?
Published 697 days ago
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:
Published 701 days ago
Bear raider: Lucian Miers has written to AIM Regulation about China fraud Gate Ventures (GATE) and has cc'd in ZAI Corpoate Finance which is widely believed to be the only Nomad prepared to consider acting for these shysters now that Roland "Fatty" Cornish has quit in disgust. Lucian's letter does not pull its punches and is below.
Published 704 days ago
After Beaumont Cornish’s shock resignation as China fraud Gate Ventures’ (GATE) Nomad (this one is so bad even Fatty isn’t prepared to touch it with a bargepole), ShareProphets has obtained an exclusive transcript of the phone call AIM Regulation put in to ask a favour from one of its old favourites.
Published 712 days ago
Another day and another exclusive. Today we bring you the court filing made by disgraced Jimmyliar Ellerton as he tries to screw not $250,000 but $400,000 from the company. It will not make pleasant reading for Sefton (SER) shareholders but I am happy to appear as an expert witness for the company as the claims he makes are - as you would expect - packed full of lies.
Published 727 days ago
On publishing this piece, I will send the following letter to ask formally for an investigation into the professional conduct of New World Oil & Gas’ (NEW) nominated advisor, Beaumont Cornish. Regular readers will be aware of Beaumont Cornish’s abysmal track record in discharging its duties as far as New World is concerned. It is high time the authorities investigated, so feel free to send a copy of the letter to the email address I give below.
Published 739 days ago
Now that the Placing is all off (quite how they calculated whose EGM votes counted is a bit of a mystery, but I shall return to that in a moment) we are told that the company is now planning to go ahead with an Open Offer which we were previously told would be underwritten by Cornhill – the placing agent now with no placing to place.
Published 747 days ago
In November of 2014 the Qualifying Executives in the Nomad team at Daniel Stewart, led by China fraud specialist Mr Paul Shackleton all quit and it was forced to tell those AIM Casino companies it represented that they needed a new Nomad or would be slung off AIM. I can now reveal that the London Stock Exchange then secretly screwed ordinary investors in order to avoid its own humiliation.
Published 752 days ago
My tongue-in-cheek piece of Wednesday on New World Oil & Gas (NEW) seems to have set the cat amongst the pigeons. Clearly my attempt at making light of things was not appreciated by all, but there were serious points at the heart of the piece so I’ll do it in a more grown-up manner this time.
Published 756 days ago
I’ll say from the start here that I have no position at all in New World Oil and Gas (NEW). That is just as well, I suppose, because viewing this from the sidelines is going to be a hoot. But it does ask a few questions of AIM Regulation (the gargantuan nature of this Orwellian misnomer is all too apparent these days), and the Nomad to New World – that fine upstanding firm of Beaumont Cornish.
Published 759 days ago
Even the thickest mothers on this planet (that is to say the AIM regulation team) must be spotting a pattern by now as another AIM listed China fraud (Sorbic) bites the dust.
Published 760 days ago
This is a stonker of an AIM casino disaster – a story of greed, stupidity, investors being misled and, as it’s the AIM casino, of private investors taking an almighty rogering. Meet Arria NLG.
Published 763 days ago
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.
Published 766 days ago
There is a false market in Sefton and China fraud Gate Ventures and the FCA and AIM Regulation do nothing to protect investors. That is a crime. I discuss that at the start of this podcast and then go on to do the hard maths on Sefton based on the claims it has made and to demonstrate clearly why the shares are 80% overvalued. Ignore the hype and bluster and the twitter and Bulletin Board insanity just do the hard math my friends and you can arrive at no other conclusion.
Published 773 days ago
It is easy to see understand why the name of colourful entrepreneur Johnny Hon is conspicuous by its absence in the AIM admission document of GATE Ventures (GATE). Practically everything that he has been involved in (Canton Property, Global Education, Global Entertainment, RG Group to name four) has been an unmitigated disaster. The problem is that it is a legal requirement under the FCA Disclosure and Transparency rules and the flagrant breach of such rules should not be tolerated, even by a body as supine as the AIM Regulation team.
Published 793 days ago
For the first time in ten months the keystone cops at AIM Regulation has fined and privately censured a NOMAD for assisting its AIM listed client in misleading investors. But we do not know which Nomad has been a naughty boy and the level of the fine is a total Rum & Coke.
Published 793 days ago
The latest shocking revelations from Tom Winnifrith (HERE) made it clear that EFH has indeed dumped all of the 2.25 million shares transferred to it by Cloudbuy Chairman Mr Ronald Duncan. There are serious implications for Optimal Payments (OPAY) and its forthcoming rights issue, as well as the acquisition classed as a reverse takeover announced earlier this week.
Published 795 days ago
There is so much to say in today's podcast but to clarify that in yesterday's podcast when I said monogamy I meant celibacy. I start with a tidy up on Motive TV following on from HERE and then onto Rosslyn Data as a follow up to HERE - I shall be contacting the FCA and AIM Regulation about Rosslyn and its loathsome Nomad Cenkos later. And then onto a special from Big Ray Zimmerman at disgraced ZAI Corporate Finance - a true POS that is Zibao Metals Recycling. Guess where it does its business? And we have the China AIM Norfolk poll results for you.
Published 800 days ago
ZAI Corporate Finance & Big Ray Zimmerman are squarely in the frame regarding the fraud Naibu (NBU) but in my view it is former advisor Daniel Stewart and its then lead Qualifying Executive (QE) Mr Paul Shackleton who are most culpable and I have today written to the FCA and AIM Regulation asking that both be investigated and punished most severely for their role in allowing the continuation of a fraud that has cost investors millions of pounds.
Published 802 days ago
It is no secret that ZAI Corporate Finance run by big Ray Zimmerman is the worst Nomad in London. If no-one else will represent a client, Big Ray steps up to the plate but I can reveal that this has already landed him in the soup big time with the regulators and I now urge the FCA and AIM Regulation to shut him and his company down for good in an open letter.
Published 813 days ago
To much fanfare the London Stock Exchange (LSE) announced its full year results for calendar 2014 this week. We had CEO Xavier Rolet all over the news, telling everyone what a marvellous success story the LSE is. Sure, it made plenty of money for its own investors, reporting adjusted profit before tax of £492 million. But what of the users of its products? How have they fared?
Published 820 days ago
Yes you read the headline correctly. The CEO of an AIM listed company has been languishing in prison since mid-November and no-one has been told about it. Two Nomads, the non-execs, AIM Regulation you stand accused of contributing to the darkest hour of the Casino. Anyone who has bought shares since the incarceration you know who to sue. Surely heads must roll?
Published 823 days ago
e-Therapeutics (ETX) has just issued this statement about the >35% jump in its share price in the last few days. In short, its board has admitted that it thinks price sensitive information has leaked from the company. “Big deal”, I hear our regular readers cry, “this is what we expect on AIM”. Sadly I have to agree with this sentiment, but this instance of seemingly clear-cut insider dealing has caught my eye. This is because, on this occasion, the London Stock Exchange’s AIM Regulation team and Financial Conduct Authority should have an easy time of catching the culprit or culprits. That is, if they are awake. It is, after all, Thursday afternoon.
Published 827 days ago
AIM is owned by the London Stock Exchange and regards itself as the junior market for the world. I regard it as a casino and its regulation department headed up by Marcus Stuttard, the self-styled Sheriff of AIM, as the biggest joke in London. I now have a shocking revelation for you which exposes the conflict of interest which will destroy what little credibility the casino still has.
Published 830 days ago
I have now reported the price action in the shares of AIM Cesspit listed Frontier Mining (FML) to the FCA last Tuesday as well. As referred to HERE there really needs to be an investigation into what went on that day, as the shares crashed 28% during the day, AHEAD of an after-hours RNS that the company planned to delist.
Published 831 days ago
As revealed HERE, AIM Cesspit listed (pro tem) Frontier Mining (FML) slipped out a devastating after-hours RNS on Tuesday detailing plans to delist and take the company private. To compound that contemptuous treatment of its shareholders, the shares dropped a whopping 28% ahead of that RNS
Published 834 days ago
Following yesterday’s piece on this subject, I cannot help but stick my oar in too! Some great ideas there, but I do have a couple of reservations as outlined below, before I put my suggestions forward.
Published 842 days ago
Rangers (RFC) has announced plans to hold an EGM to vote on a wholesale change of board. The plans are a disgrace, for the EGM is to be held in London at a venue that can hold only 500. Most Rangers shareholders live in Glasgow. This appears a deliberate attempt by Rangers and its shamed financial adviser Mr Paul Shackleton of WH Ireland to disenfranchise fans.
Published 845 days ago
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?
Published 845 days ago
Following my (unanswered) open letter to Jefferies International (Nomad to IGas) in the wake of having inspected the share register and finding a 10.25 million shareholding registered on 25 Nov 2014 (HERE ), I have now asked AIM Regulation to look into the matter.
Published 848 days ago
Earlier this week I asked if the Board of AIM listed Rangers FC could justify why it had rejected two refinancings in favour of a third proposal put forward by a major shareholder in the club Mr. Michael Ashley. The Board of Rangers FC (RFC) is dominated by business associates of Mr. Ashley. Can Rangers show paperwork to justify its decisions and therefore show that it did not breach Section 994 of the 2006 Companies Act? Rangers has not responded. And so today I have written to AIM Regulation Team asking it to investigate
Published 852 days ago
I am in full flow today! I start with Kevin Ashton and why you should all buy a ticket for UK INvestor Show on April 18 NOW (HERE) and give thus guy a standing ovation. He is a total 100% hero. I then move onto Gowin New, and then to Mosman en passant (more detail HERE) and then to Bagir ( what i a "good" company, hint - not bagir, and why), Sopheon, TXO and Golden Saint Resources. There is a bit of a discussion about the lack of AIM Regulation and ZAI Corporate Finance.
Published 852 days ago
Rangers (RFC) has announced agreements with SportsDirect for the provision of a £5 million credit facility, with a further £5 million available “subject to due diligence by SportsDirect prior to drawn down”. However, with the company having admitted to “a number of options”, the deal now announced has been criticised as not being in the company’s best interests… We really question whether it breaches section 994 of the 2006 Companies Act. We shall be contacting AIM Regulation asking for a formal investigation. Since they are chocolate teapots, we will also be contacting the Scottish FA asking it to launch a formal probe as it appears a watchdog with some teeth.
Published 858 days ago
Shares in the fraud Naibu (NBU) were finally suspended on the AIM casino on 9 January 2015 after the NEDS woke up and requested clarification of the financial position of a company claiming to be cash generative and drowning in cash. How long does it take to check this out? What next?
Published 858 days ago
In the light of our studies of the rulebook here on ShareProphets and the disgrace that is IGas’ (IGAS) CEO’s lack of transparency over his dealings with Equities First Holdings LLC, I have today written to ask AIM Regulation for clarification on a number of points. I have a nasty feeling that things are simply going to get worse and worse for Andrew “piggy” Austin.
Published 862 days ago
I’ve already scotched a few rumours and outright untruths about Tern plc (TERN) HERE, HERE HERE and HERE and Tom Winnifrith has added to the opprobium several times, in particular HERE. But in the wake of a ‘clarification’ RNS which appeared to seek to set the record straight, Tern’s company chairman, Mr Angus Forrest, is STILL misleading his investors by giving an overstated impression of Tern’s beneficial ownership of Cryptosoft. I would suggest that this amounts to Market Abuse. It is a disgrace. The FCA and AIM Regulation need to act now to stop this. It is an affront to all the regulatory systems in place to make sure that the market is told the full truth!
Published 863 days ago
Yesterday I ran a piece saying that IGas (IGAS) was still not complying with DTR 3 of the Disclosure and Transparency Rules in the FCA rule book. It isn’t, but it turns out that DTR 3 does not apply to AIM companies, not that I managed to glean that from the DTR rules, although it can be inferred from the AIM Rules in the Guidance Notes. Mea Culpa, then and I apologise for the error. But AIM Rule 17 contains much the same requirements and so here is a corrected version of that piece. For the record, DTR 5 (rules governing disclosure of holdings greater that 3%) DOES apply to AIM Companies.
Published 864 days ago
Entrepreneur Big Dave Lenigas has got into a spot of bother before for his activities on twitter. I accept that Mr Lenigas is enthusiastic about his investments but for his own sake he should get off twitter now. Pre-placing tweets about Rare Earth Minerals (REM just look wrong. And then there is the email.
Published 872 days ago
On Tuesday I published an open letter to the FCA and to AIM Regulation lambasting them for their uselessness over the fiasco which took place at Digital Learning Marketplace plc in 2012 which had at the time involved two of Tern’s (TERN) current board as well as one of Tern’s current Brokers, and asking them to investigate recent events at Tern plc. You can read that open letter HERE The FCA has now responded – and the Market Abuse team is taking a look. Here is what they have to say for themselves:
Published 874 days ago
For over a year I have been providing the regulators with a chapter and verse dossier of breaches, lies, misrepresentations, incorrect filings, missing RNSs, market abuses, contract breaches and a whole lot more besides with regard to the collapse of Digital Learning Marketplace (DLM) in 2012. They were warned that it would all happen again unless they acted. They have not. And so, in the wake of an utter scandal at Tern (TERN) which, one way or another, involves almost ALL of the protagonists from the DLM scandal I have written an open letter to the chief executive of the FCA, Mr Martin Wheatley and to the head of AIM, Mr Marcus Stuttard. The latter, laughably, describes himself as The Sheriff of AIM. I think we all know that he is an imposter and who is the real Sheriff.
Published 879 days ago
It is traditional at this time of the year to reflect upon the previous twelve months: the successes, the failures, the surprises, the changes and to consider how one might do it all a bit better over the next year.
Published 886 days ago
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.
Published 899 days ago
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.
Published 901 days ago
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.
Published 905 days ago
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.
Published 906 days ago
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:
Published 906 days ago
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.
Published 914 days ago
Of course this is the UK and the SFO are bloody useless just like the FCA and AIM Regulation. If this was the US there would have been a dawn raid on Quindell with arrests at homes across Hampshire give the wholesale fraud at this POS AIM casino company. However…
Published 917 days ago
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.
Published 922 days ago
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.
Published 922 days ago
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.
Published 922 days ago
I really must head off to the Greek Hovel. I do not want to spend any more tme than I have to in Athens but in response to reader requests I have a few thoughts on Fitbug (FITB). You see I am not only the ever obedient servant of the keystone cops at AIM Regulation but also of you too, dear readers.
Published 923 days ago
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.
Published 923 days ago
According to The Times today, the Sheriff of AIM has for the past five years been a fellow called Marcus Stuttard - no offence, phoney Sheriff, but you are useless. You are Inspector Clouseau and your team are the Keystone Cops. You could not spot a felon if I took you on a guided tour of Rob Terry's next home, that is to say Wormwood Scrubs. Your inaction against miscreant Nomads and companies that tell lies and commit fraud is legendary across the globe. That is why the AIM casino is viewed as such a joke. In this podcast I look at how and why Mr Stuttard and his team have failed us all so badly and why they are simply not fit for purpose.
Published 925 days ago
Joel Leonoff, the CEO of Optimal Payments (OPAY) misled investors by selling shares (i.e. transferring title and getting cash) to the hoods at Equities First Holdings LLC. That should be a hanging offence. But worse still he made the transfer when Optimal Payments was in a closed period and so when no directors should trade. Do AIM Rules mean nothing or will AIM regulation Publicly censure Joel or, even better since this is a double offence, force him to stand down at once. I have written a letter to AIM Regulation on this matter.
Published 929 days ago
Infamous bear raider Lucian Miers has today written to the FCA regarding the Equity First Holding LLC scandal that iis tearing the heart out of the AIM Casino. Explianing clearly why market abuse has taken place he demands that heads roll. The letter follows:
Published 931 days ago
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:
Published 935 days ago
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.
Published 937 days ago
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.
Published 944 days ago
I blame Amanda van Dyke and Real Man manager Maribelle for leading me badly astray last night and I am not at my sharpest. Struggling on, today's bearcast covers Concha, Castleton, Verdes Asset management, Quenron, AIM Regulaton and the FCA.
Published 949 days ago
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?
Published 953 days ago
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:
Published 953 days ago
You want proof that the AIM Casino is not as you may have thought a place where CEOs lie and commit fraud, where Nomads float any old rubbish but a beacon of honesty. You may have lost money on stocks but that is unlucky because there is hard evidence that this market is cleaner than clean, whiter than white, The Mother Theresa of all Exchanges.
Published 956 days ago
The tweets of David Lenigas have been controversial in the past - see here - but now another episode comes to light which appears to beggar belief. Quite simply Mr Lenigas appears to have made tweet claims about Horse Hill which his own team says are untrue. For the avoidance of doubt I am a shareholder in a HH company (UK Oil & Gas) and I reckon oil will be found but that does not excuse what has gone on.
Published 970 days ago
You could not make this up. Disgraced liar and crook Jim Ellerton may well be reinstated as the next Chairman of Sefton Resources (SER) in January. This take from the AIM Cesspit gets worse and worse.
Published 980 days ago
This article appeared in the Chinese publication Caixin Online at Christmas 2012. Staff reporter Qu Yunyu has done a superb job. It should be required reading for the crony capitalists round at Daniel Stewart, Allenby Capital and Abchurch Communications as well as AIM Regulation and for anyone mad enough to hold shares in Naibu (NBU), Camkids (CAMK) or China Chaintek (CTEK). It is explicit about what has gone on. If you own shares in any of the Fujian companies on the AIM Casino you should sell them all at once. The article – with a few choice sections in bold from me - reads:
Published 982 days ago
Shares in China fraud Naibu (NBU) bounced to 27p at the tail of the week. That is a dead cat bounce. This is a fraud and the shares are worth 0p. But the episode shows just why regulation on the AIM Casino is such a total joke.
Published 984 days ago
Yesterday evening I was doing a bit of frigana chopping at the Greek Hovel and I heard a rustling in the bush I was approaching. I know enough by now to realise what was making the noise and beat a hasty retreat. But the stench of corruption on AIM tells me where the real snakes operate. It is a cesspit for crooks and crony capitalists who systematically transfer wealth from the many (mug investors) to the few (themselves). I have had enough of this for one day and am heading back to the fields to face real snakes. They are less loathsome. There is a solution but the London Stock Exchange does nothing. It is guilty of abetting financial crime by its inaction.
Published 985 days ago
I hope that Daniel Stewart and upper class twit PR buffoons Abchurch Communications have enjoyed spending the vast fees they have earned in assisting China fraud Naibu (NBU) to list on the AIM Cesspit. And I hope AIM Regulation are ready because at 7 AM the Sheriff of AIM will be breaking news which MUST result in a share suspension if the Casino is to retain any credibility. It is Gotcha time for these bad guys and then we can start moving onto Camkids (CAMK) and China Chaintek (CTEK). Oh.....
Published 986 days ago
I noted in my earlier article HERE how Zedex Capital is involved in listing a stack of shit companies or indeed outright frauds on AIM. That is why anyone holding shares in Naibu, Camkids, China Chaintek, Asian Citrus and Asia Ceramics which are all, pro tem, listed on the Casino should sell now. If you doubt me here is another warning: Asia Distribution, what happened next.
Published 989 days ago
Apparently at 31p shares in Naibu now trade on a 2015 and 2015 PE of c0.7. Any stock trading on such a rating is either the cheapest stock on this planet or an outright fraud, a Norfolk. Naibu is a fraud. My target price is 0p and this stock will lose its Aim listing soon. It could be very soon. If Daniel Stewart, nomad and broker to this POS – and the firm that listed Quenron – had any integrity it would resign at once as Nomad and broker. As such I ask two questions of Daniel Cesspit.
Published 1016 days ago
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?
Published 1021 days ago
I read with considerable interest Tom Winnifrith’s article on how companies get away with telling abject lies by RNS . There is clearly a conflict of interests in the system whereby regulatory oversight is provided by Nomads, who are engaged by the very people they are supposed to oversee.
Published 1022 days ago
The way that the AIM Casino is set up is based on one great enormous conflict of interest and that is why companies can and do tell lies to investors – that is the Nomad (Nominated Advisor) system
Published 1045 days ago
I am sure that AIM Regulation now know full well who Phorm (PHRM) PLC are. But following my revelation’s earlier today HERE I have asked my good pals to investigate whether Phorm PLC but also Mirabaud Securities (broker) and Canaccord (Nomad) were guilty of market abuse in 2011 and 2012 or of extreme negligence or both or neither.
Published 1052 days ago
Four times, or perhaps it is five, we have asked the AIM Regulation Team to investigate whether Roland “Fatty” Cornish and his firm Beaumont Cornish, is fit to continue acting as a Nominated Advisor (Nomad) in light of our revelations about events at Digital Learning Marketplace (DLM) in 2012. We now publish a full charge sheet. If Fatty wants to exercise a right to reply we will publish it. Pro tem we will pass this too onto AIM Regulation.
Published 1061 days ago
I have flagged to AIM Regulation the numerous failings of Roland “Fatty” Cornish and his Nomad firm Beaumont Cornish. Once again I have written to Regulation today asking it to investigate why Fatty allowed Digital Learning Marketplace to publish as an RNS a total lie in August 2012. My start witness is….Angus Forrest now at Tern PLC (TERN) but then at DLM. Forrest is an honourable man and so has, I suspect inadvertently, dobbed Fatty in to The Sheriff of AIM
Published 1071 days ago
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.
Published 1077 days ago
On 27th May AIM Cesspit listed Astar Minerals (ASTA) lied to investors in an RNS. This overvalued POS Company is run by a bucket shop stockbroker and anyone buying the shares needs their head examined. The fact that it took The Sheriff of AIM only ten minutes to unearth this lie shows what dumb and unprincipled mothers these folks are.
Published 1078 days ago
For the fourth time I have written to AIM regulation asking for a formal investigation into whether Roland “fatty” Cornish and his firm Beaumont Cornish carried out its supervisory duties adequately in the period June-September 2012 with regard to Digital Learning Marketplace (DLM), now Alpha Returns (ARGP), a firm then run by crony capitalists Angus Forrest & Bruce Leith who are now running Tern PLC (TERN) into the ground. This is prompted by the shock whistle-blower letter from July 17 2012 which I published in full yesterday, HERE.
Published 1081 days ago
On Monday, I published a public call for the AIM Investigations Team (AIM Regulation) to investigate the Platinum Partners loans scandal. This morning, we heard that Peter Landau and Anthony Eastman (directors at the time the loans were entered into and throughout the period they weren’t reported) have stood down from the company. Range claims that this is “part of a corporate restructuring initiative”, but the timing doesn’t look like a coincidence to me. If I am correct, then today I want to take the opportunity to applaud AIM Regulation for moving swiftly.
Published 1084 days ago
For the AIM casino to work, allowing investors to trust PLCs to tell the truth, every statement they issue in an RNS must be verified by the company’s Nominated Advisor (Nomad). Nomads like Roland “Fatty” Cornish of Beaumont Cornish are paid fat fees for doing this work. If they fail to verify an RNS so that a company lies to investors they should be censured by AIM regulation and, in an ideal wold, prevented from acting as Nomad in future. In that vein I have now issued a third request to the AIM Team to investigate Beaumont Cornish and Fatty in particular regarding lies told in 2012 by Digital Learning Marketplace.
Published 1085 days ago
Tern (TERN) chairman Angus Forrest is fleeing the country. Okay, I exaggerate, he is on a boat to France as he prepares for a week’s holiday. How do I know? Because he has just called me. Forrest tells me that what I am about to publish is confidential. But since it is explosive does he think I give a FF? Come on DLM (now Alpha Returns), Forrest, Bruce Leith go send me a lawyers letter if you want.
Published 1090 days ago
The AIM Regulation Team have confirmed to me that they are already looking into my first formal request to investigate Nominated advisor Beaumont Cornish and its head honcho Roland “Fatty” Cornish. I have today formally requested that the regulators open up a second investigation into what appears to be yet another blatant failure by Fatty to do the job for which he is so generously rewarded.
Published 1095 days ago
We seem to be having a bit of a run in with Roland "Fatty" Cornish of Nominated Advisor Beaumont Cornish. First there was the little matter of New World Oil & Gas – see HERE. Now we come to events at what is now Alpha Returns (ARGP) and matters from 2012 revealed by Nigel Somerville earlier today HERE
Published 1105 days ago
Is there something in the DNA of AIM Cesspit listed Sefton Resources (SER) that makes it incapable of keeping its investors up to date with what is going on? That the AIM Regulation team has not ended the long running farce that is “Sefton and the lie machine” by kicking this POS off the market and publicly executing all current and historic directors defies belief. And so a few questions about Sara Creek.
Published 1107 days ago
I think that you must be aware by now that I have major concerns about the way that AIM operates. The way that money is raised is bad enough in that it creates two classes of investors. The amount of shareholders cash spent on share promotion as opposed to creating value is alarming. But my real gripe is that companies appear able to tell outright lies and get away with it.