Tom Winnifrith Bearcast: 10 crimes folks are getting away with in a top of the market blow-out but they will face a massive backlash
Video Special with the PR genius Steffi & the Sith Lord Zak Mir - undeclared Commercial Interests Special
Published 48 days ago
ShareProphets AIM-China Filthy Forty play Taihua (TAIH) has finally announced the long-awaited buy-back first announced way back last August when launching an Open Offer to pay for it. Hurrah! So it wasn’t a massive spoof to get a fundraising away after all, although the net result of the exercise appears to be a lot more shares in issue and a net inflow of well over half the funds raised.
Published 80 days ago
I surprised myself to note that I haven’t commented on the quality outfit, Boxhill Technologies (BOX), in over two months so thought I should start the New Year by asking the question that must be on every investor’s lips: when is the new CEO going to start and who the hell is it? Surely the company's not struggling to find a suitable mug / candidate?
Published 102 days ago
Hello Share Tootlers. It's quite a bit since I last suggested you might do some further research on Assura (AGR). Since then the company has found another £300 million from investors.
Published 115 days ago
She was horrified. I am not sure she agreed with my line that the mainstream press were part of the problem not the solution but she agreed that AIM had its issues. On the bearcast today I look at Red Leopard (RLH), Formation Group (FRM), Mobile Streams (MOS) and its charming CEO - Andalas (ADL) - whose CEO is a tosser - Strat Aero (AERO), Finnaust (FAM), Inspirit (INSP), Plus 500 (PLUS), Advanced Oncotherapy (AVO)), TrakM8 (TRAK) and Cloudtag (CTAG) plus one way of looking at it which sees 300 companies on AIM as a sort of fraud.
Published 117 days ago
Given what we now know about the guaranteed sales order from Second Chance and the binding heads of terms deal with Cities, I just had to have a chuckle at the content of an RNS released by AIM-listed jam-tomorrow (and product some time thereafter) CloudTag (CTAG).
Published 118 days ago
Cloudtag (CTAG) shareholders might expect that Amit Ben Haim, the supposedly superstar CEO, would be wholly focused on building Cloudtag’s business but based on filings at Companies House he has a number of other directorships. Let's look at how a few other businesses led by the great man are doing....
Published 127 days ago
I cannot say that I agree with all that is said or written by Richard Jennings of Align Research but a letter he has sent to the boss of Providence Resources (PVR) is bang on the money. The time has come to fire Tony O'Reilly junior.
Published 136 days ago
Talk about a good day to bury bad news: every media commentator is trying to come to terms with the election of Donald Trump (with the notable exception of our own Tom Winnifrith, who is off to get his new Poll Sheriff’s badge) and so at 3.41pm yesterday AIM-listed Milestone Group (MSG) slipped out a “miscellaneous” RNS. It may have won two big contracts recently but in terms of this RNS, there was nothing miscellaneous about it: this company is in serious trouble.
Published 161 days ago
Yesterday saw a shocking litany of scandal regarding Iraeli tech play TrendIT (TRIT) of the LSE’s Standard List on the main market. We saw how it managed to gain admission claiming to be raising £4m which didn’t arrive, how its accounts suggest that it was not solvent either before or after the IPO, lost its Broker (Peterhouse) which is yet to be replaced, confusion over which firm was acting for it in its IPO and admission placing, a boardroom merry-go-round, a going concern warning from its auditor and suspension from trading “pending an announcement” we’ve all been awaiting for almost three months – and it only listed in January! Today we bring you, courtesy of the Global Shorting Conspiracy, a translation of an article published by Israeli newspaper Calcalist.
Published 162 days ago
If you thought that AIM was badly regulated then the Standard List seems to be making great strides to demonstrate how much worse it could all get. We already have Cynical Bear’s Sub-Standard Shockers XI but in the form of Trendit (TRIT) an extraordinary set of events suggests a real scandal is brewing. Will anyone step up to the plate and take action?
Published 193 days ago
Hello Share Pippers. The chain store firm of Dunelm Group (DNLM) has produced some jolly good figures. They are in line with other reports that consumer spending is actually up since the Brexit vote. So all those gloomy folk who predicted hard times ahead after our decision to divorce from Europe are wrong.
Published 199 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 201 days ago
It was announced on Monday afternoon that stricken ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) has drawn down another additional £147,000 under a keep-the-lights-on bridging facility whilst it tries to get a refinancing together. It has now borrowed $395,000 of a $200,000 facility, plus three extensions. Oh, and its CEO walked last week, with (apparently) non-Exec Chairman Craig Niven stepping in as interim CEO. Except on Monday he was still being noted as non-Exec in the RNS.
Published 207 days ago
We have already noted that AIM-listed Galasys (GLS) appears to be minus a company secretary, minus a registered office, minus a Nomad, minus a Broker and minus a NED or two since the board declared war upon itself last year. Now it seems that two disgruntled shareholders have decided enough is enough, but the implications as to what has been going on are dreadful.
Published 229 days ago
With a business model which has seen red flags ahoy noted and recent performance “weaker… than we would have liked” (sorry, in order to help the company ‘realise its considerable potential’), Utilitywise (UTW) has announced the appointment of Brendan Flattery as CEO, effective 1st October 2016…
Published 235 days ago
On Tuesday AIM-listed ECR Minerals (ECR) put out a stinker of an RNS which crashed the share price. Yesterday we learned that the CEO is stepping down, effective at the end of this month. Did he jump, or was he pushed? And was Tuesday’s RNS completely truthful, and where does that leave the Nomad, Cairn?
Published 252 days ago
Who is the best CEO out there? In the world of financial services maybe we should go to the Wealth & Finance International Magazine as it hands out its gongs. It leaves nothing to chance stating:
Published 256 days ago
Tom Winnifrith described the deal under which AIM-listed E-Therapeutics (ETX) repurchased a company called Searchbolt (having spun it off some while back) as stinking like a pile of rotting kippers at the height of summer. In the event, two directors of E-Therapeutics ended up with (between them) almost 3.4 million shares in the company from the transaction. Now the CEO (who accounted for 3,350,228 of those shares – plus a cash sum to cover capital gains tax) has quit with immediate effect.
Published 263 days ago
Steve Moore has already ably covered the Newmark Security (NWT) profit warning this morning, which see the shares marked down to 1.75p and makes my Buy rating as published here in May look rather foolish. Indulge me and I’ll see if I can offer some insights as to what investors ought to think about.
Published 296 days ago
ShareProphets likes to bring you the news that companies don’t want you to see. In that vein we bring you yesterday’s RNS from the AIM-listed mile-high croc of **** with no CEO and which is running out of cash otherwise known as Fastjet (FJET) which was entitled Notice of AGM. To make things look really kosher it came out at 3.36pm on a Friday: no-one-is-watching o’clock. Whilst some in the square mile may already have been off lining up the Friday night coke and hookers, we were still watching. Blow me down with a feather, it wasn’t just a notice of AGM.
Published 299 days ago
Recent profit-warning issuing creator of digital advertising platforms, Crossrider (CROS) has now made an announcement entitled “Board Changes including appointment of CEO”. The new CEO also follows the March departure of Koby Menachemi “to pursue other opportunities”, but who is it and what are the other board changes?
Published 299 days ago
Oh dear, oh dear. I have the utmost respect for Richard Poulden who had the grim task of overseeing today’s awful trading update from AIM-China play PCG Entertainment (PCGE) and like Tom Winnifrith I had hoped that his outfit might prove to be a rare winner on the Filthy Forty. My experience of him has been one of immense integrity a very sharp mind so it is with considerable sadness that I am writing this. But a bit more digging later, it looks just awful – although, I must stress, not on Mr Poulden - and there is a worrying implication on fellow Filthy Forty play MoneySwap which is already is considerable trouble. Sadly, I fear that AIM Regulation needs to do a full steward’s here.
Published 334 days ago
Hello Share Samplers. Investing in airlines has produced nice gains of late, thanks largely to the cut in fuel prices. But it may be that this little line of money-making is dropping off, now that the oil cost has been factored in for most air operators. But there may still be some benefit in investing in companies which supply airlines. One which comes to mind is Senior (SNR). It is a top-flight engineer which operates in 14 countries. It makes parts for aeroplane engines, including gear that helps air circulate.
Published 339 days ago
It will come as no surprise to readers of ShareProphets that main market listed Goldenport Holdings (GPRT) is to leave the LSE, as announced this morning. Shareholders are set to lose everything just as predicted (see HERE, HERE, HERE and HERE) but amazingly the shares are still trading pro tem. You can still get your bad of crisps….or perhaps just a couple of penny chews, for the shares have collapsed (so far) by 70% today, to 1.5p mid. So there is another 1.5p to go….
Published 373 days ago
This morning saw a most interesting “Holding(s) in Company” RNS from Red Flag strewn ShareProphets AIM-China Filthy Forty play GTS Chemical. Now perhaps all is completely above board and we are looking at an unfortunate coincidence. Or perhaps the company has just announced that its CEO has been offloading shares. A clarification is surely needed.
Published 385 days ago
This podcast looks at three men. First is the criminal fraudster and expenses thief Rob Terry and I discuss what sort of trial and what sort of punishment needs to take place and be imposed. Then it is fund manager Neil Woodford and I look at his growing biotech headaches. Finally the greedy pig Richard Chase of Nyota. If you have not yet listened to yesterday's special on this failure of a CEO please do so and send the email I request.
Published 392 days ago
With a hat tip to a reader who is clearly as much of an anorak as I am, I trek over to Companies House and discover that on 9 February, shortly after its piss poor interims, folks behind Avanti Communications (AVN) established three new Companies. Hang on Henry, what on earth is David Williams, the most bombastic CEO on AIM up to?
Published 406 days ago
It seems that amongst the crony capitalists coining it in from the coke & hookers subsidy machine that is the AIM Casino this website is not terribly popular. I think we can take that as a vindication of what a good job we are doing. An AIM CEO emailed me to say - and I take this as praise indeed:
Published 412 days ago
Last commenting on processor and communications technology group Imagination (IMG), I noted vindication in the face of some bulletin board derision but that the shares were now on the watchlist as a buy - see HERE. Does an announcement today of “CEO change, trading update and restructuring” change this?
Published 415 days ago
Following the appearance of AIM-listed DQ Entertainment (DQE) in our Red Flags at Night series regarding the resignation of its Nomad and other matters, slipped out at no-one-is-watching o’clock on 3 Feb, we had a Director Shareholding RNS yesterday afternoon. It is a complex announcement, but it stinks. Certainly it did not give any reason to question the wisdom of the Nomad, Allenby, to step down on 22 Feb. The shares remain a big sell even after the collapse of last week.
Published 468 days ago
It was announced yesterday at 11.32am that the CEO of AIM-listed Rurelec (RUR), Mr Mark Keegan, had walked with immediate effect. Having only been on the board since late July this year, and with the first RNS released which bore his name as CEO having been on 13 October this year this looks to be an ominous development - not to mention the well-chronicled tale of financial and other woes besetting the company.
Published 497 days ago
On Thursday at no-one-is-watching o’clock (5.54pm) AIM-listed Rightster (RSTR) issued a very odd RNS detailing peculiar dealings in the company’s shares by its CEO, Mr Patrick Walker. From the text of the RNS it would appear that his director shareholding is – as I understand it – under the control of a third party. Who might that be, and why? Then there is the reporting of a transaction dating back to 7 August – is that delay a breach of AIM Rules?
Published 577 days ago
ShareProphets AIM-China Filthy Forty member and Jersey-registered Asia Ceramics Holdings (ACHP) recently featured HERE in the wake of its after-hours (and Red Flag riddled) full year 2014 results. What emerged was a large market capitalisation relative to (almost) non-existent earnings. But there was also a long string of related party transactions, and a CEO who appeared to be running businesses in China doing the same thing as Asia Ceramics does…in China. But what catches the eye now is an RNS on Tuesday of this week which describes a very peculiar set of loan agreements between CEO Dr Pu and the company.
Published 830 days ago
Via his PR I have asked Robert Fielding, the CEO of Quindell (QPP) questions about the sleeping arrangements at the recent Quenron management away day at a luxury hotel in the Lake District. No comment is the response. So I tried a different tack
Published 891 days ago
I’d like to remind certain people who’ve attacked the mercurial David Lenigas, in recent weeks, that this is the man who a couple of months ago was being praised by the vast majority for making them collectively, hundreds of thousands, if not millions of pounds. (Where are they all now David?) Fast forward to the present day and Mr Lenigas is now being demonised on financial web sites, bulletin boards, comments sections & twitter.
Published 928 days ago
Together Robert Sutherland Smith and Tom Winnifrith have now been working in finance for 71 years - the last ten or so together. Tom wishes to stress that RSS accounts for most of that, the great value investor starting his City career at the Unilever Pension Fund the year before Tom was born. In their NEW book they outline 71 tricks of the trade for making money from shares. Here are rules seven and nine.
Published 943 days ago
The post bank holiday cobwebs were well and truly blown away by this morning’s Telecity (TCY) regulatory statement innocuously titled ‘Board Change’. No third level non-executive director shuffling his range of fee paying obligations…no, this was a big one: the resignation of the CEO.
Published 950 days ago
At the weekend we asked our readers for their view on CEOs who commit fraud. And yes this does refer explicitly to Rob Terry at Quindell (QPP) who really must answer the simple question posed in today’s article HERE as well as numerous others as a matter of urgency. We asked how you viewed fraud in investment terms. You said:
Published 965 days ago
Having announced “preliminary discussions in relation to a possible merger” with Carillion PLC (CLLN) on 25th July, Balfour Beatty (BBY) has now announced that it has terminated the discussions after “Carillion's wholly unexpected decision to only progress the possible merger in the event that (US-headquartered engineering consultancy business) Parsons Brinckerhoff remained part of the potential combined entity”. Below I analyse this strange twist of events, after the prospective merger was originally described by the companies as having “the potential to create a market leading services, investments, and construction business of considerable depth and scale”
Published 967 days ago
Shares in design and engineering consultancy Hyder (HYC) fell more than 38%, to below 400p, in the aftermath of a February warning that “results for the financial year are expected to be materially below current market expectations due to delays in new contract awards in Australia following the election, and project delays in the Middle East”. However, a recommended 650p per share cash offer for the company has now been announced. Are there lessons to be learned here?
Published 1010 days ago
I penned a piece on Astar Minerals (ASTA) a few days ago talking about why the market is acting irrationally and why the stock was worth a fraction of its price.