Results

Filthy Forty Taihua – rum’n’coke RNS re AIM Rule 26: Bargepole

Published 6 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.

FARCE!! Filthy Forty Taihua – second new website blocked, another missive to AIM Regulation

Published 7 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.

Filthy Forty Taihua – London Busses time as another new website is announced

Published 8 days ago

Oh dear, oh dear. Having been banging on about the disappearance of the company website of ShareProphets AIM-China Filthy Forty Taihua (TAIH) and being pleased to note the announcement yesterday of a nice shiny new site, this morning it seems as though it too is not working. But lo and behold, at 11am up pops the company with another RNS, announcing that it is all change again, and that the new site is to be found at www.thuaplc.com. Nothing for six weeks, and then two come together!

Filthy Forty PCGE Entertainment: it is hats off to Saint Richard Poulden as rescue deal revealed

Published 8 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.

UPDATE: Filthy Forty Taihua - Company Website news at long last

Published 8 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?

Filthy Forty Taihua – Another letter to AIM Regulation: still no website, still no buy-back, still no update on related party receivables.

Published 9 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.

Tungsten is yet to recover but Wolf Minerals is worth a look

Published 13 days ago

Many commodities have enjoyed significant recoveries in price during 2016, but tungsten hasn’t been amongst them and isn’t far off of the lowest levels seen during the past decade.

Filthy Forty Asian Citrus – still no progress on fraud allegations as AIM execution beckons

Published 13 days ago

ShareProphets AIM-China Filthy Forty purveyor of biblical plagues Asian Citrus Holdings (ACHL) has updated on the long saga of its audit investigation into allegations which suggest fraud. It seems there is little progress, if any, to report as the company hurtles towards the six month mark in suspension from trading, and execution under AIM Rules 41.

Can the Ebony Nectar Rocket the Footsie to Where It's Never Boldly Gone Before?

Published 15 days ago

The bulls among us are rejoicing at the beginning of the new year. But what’s causing the Footsie to beat its all-time highs? 

ShareProphets share tips of the year Number 19: Sell Taihua says Nigel Somerville

Published 19 days ago

ShareProphets AIM-China Filthy Forty play Taihua (TAIH) is, in my view, a screaming sell in view of the Red Flags highlighted on this site for months. I doubt very much whether a short position is possible with this stock, but if I were a holder I’d be running for the hills.

Open Letter to AIM Regulation: Does AIM Rule 26 count for anything? (ref F40 Taihua)

Published 21 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.

Filthy Forty Asian Citrus: pole position for the next AIM-China execution?

Published 26 days ago

There are a few contenders for this title, but an update this morning from ShareProphets Aim-China Filthy Forty purveyor of biblical plagues and (apparently, now) not-quite-failed-yet property deals suggests to me that Asian Citrus Holdings (ACHL) might be booking its place in the Filthy Forty AIM departure lounge.

China Norfolk MoneySwap – refinancing delays but the parrot is just resting. Honest, guv’

Published 34 days ago

Well I guess it is not dead yet, but ShareProphets AIM-China Filthy Forty poster-boy MoneySwap (SWAP) sure is pushing the line. Having bundled through shareholder authorities to get enough headroom available for a rescue bail-out at its last AGM even without a firm proposal on the table last June, apparently due to the urgency of the situation, here we are six months on and still there is no deal – and the company is running on the fumes of a series of emergency loans. What’s the point?!

Filthy 40 Asian Citrus updates on (lack of) progress re fraud allegations

Published 41 days ago

ShareProphets AIM-China Filthy Forty purveyor of biblical plagues, rotten oranges and failed property deals Asian Citrus Holdings Ltd (ACHL) has updated the market on how the investigations into the allegations of fraud are going. After two and a bit months (at least) of reinforced audit procedures, it seems that little progress has been made and the company has no idea when it will ever get its FY16 accounts out. This one is looking a nailed-on certainty for being given the heave-ho from the Casino in due course, with just the mechanics to be sorted.

Filthy 40 All Asia Asset Capital – keeps the lights on with a new contender for most expensive loan in AIM history

Published 42 days ago

At the new no-one-is-watching o’clock of lunch-time yesterday, ShareProphets AIM-China Filthy Forty play All Asia Asset Capital (AAA) announced that it had received £100,000 in the form of a convertible keep-the-lights-on loan from an entity controlled by an un-named shareholder. One assumes that it must be a very small shareholder as there was no Related Party Transaction statement, but the terms suggest that the company is in a spot of bother. Er, actually a serious spot of bother.

Why on earth are people still buying Amur after a £66 million rise in market cap!

Published 44 days ago

When a small mining company sees its market cap increase by over £66 million in the space of a month without any corresponding news to support such a rise, you have to wonder at the sanity of private investors who are still piling into the share.

Filthy 40 Origo borrows $2.5m at min 50% cost to keep the lights on

Published 45 days ago

You may have thought that ShareProphets AIM-China Filthy Forty investment company Origo (OPP) had put its troubles behind in and was heading for calmer waters. Having finally resolved its ongoing troubles over payouts on its preference shares, reaching a deal with Brooks Macdonald, and just a couple of weeks ago given a positive update on the progress of its portfolio and realisations, this morning the company announced that it had borrowed $2.5 million with repayment terms the higher of 50% or 12% a year (non-compounded) to discharging Origo liabilities to professional advisors (excluding those of Origo Advisors Limited) existing as at 19 August 2016.

China fraud Taihua – where is the buy-back? Where is the website? Where is the update on RMB 10 million of Related Party receivables (which the FY15 audit could not confirm)?

Published 46 days ago

I keep on asking, and still there is silence: where is that buy-back that ShareProphets AIM-China Filthy Forty poster-boy Taihua (TAIH) has been promising since announcing an Open Offer to pay for it back in August? And where is the company website? And what about those Related Party receivables which were subject to an audit qualification of opinion?

Filthy 40 China Africa: restructuring EGM Circular released, correction and apology, but value at the current price?

Published 53 days ago

The details have been announced: out of cash ShareProphets AIM-China Filthy Forty play China Africa resources (CAF) is proposing to divest its existing asset to its shareholders by way of an in specie special dividend (apparently valued at 1.75p per share) to leave a clean (and rather empty) cash shell. New money is coming in at just 2.17p a share, with a new board, a new business model and a new set of advisers. Against an IPO price of 40p a share back in 2011, China Africa has been a stunningly poor company. Things look set to change for the better, although the maths suggests that the current share price is still well ahead of events. 

China fraud Taihua: where, oh where, oh where, oh where is the share buy-back (and what has happened to the company website)?

Published 54 days ago

ShareProphets AIM-China Filthy Forty play Taihua (TAIH) has been promising a share buy-back since the launch of an Open Offer back in August which was apparently being conducted to pay for it. The last update from the company - on 30 September (interims, released on deadline day) - told shareholders that the company expected to announce the mechanics of this Godot-esque buy-back “shortly”. That was more than eight weeks ago. We are now heading towards the very end of November. While we are at it, what has happened to the company website? 

China fraud Asian Citrus – treating AIM shareholders as second class citizens

Published 55 days ago

The Red Flags plastered all over the currently suspended pending accounts ShareProphets AIM-China Filthy Forty play Asian Citrus Holdings (ACHL) can all be found HERE and the latest development is that it has now called its AGM – still with no accounts published – on 28 December, right in the middle of the Christmas and New Year break. I guess the board is saving precious shareholder cash in that it will be able to book a very small room.

AIM-China Grand Group, for whom the AIM Rule 41 bell tolls (unless Nomad ZAI walks first)

Published 57 days ago

AIM-China incubator play Grand Group (GIPO) only joined the Casino in January 2015, too late to make our ShareProphets AIM-China Filthy Forty index. This is most unfortunate, for the credentials on offer are impeccable – and now, it seems, we could be just over five weeks from a one-way trip to the AIM Execution chamber, courtesy of AIM Rule 41 (if, that is, the Oxymorons bother to enforce the rule this time). This is as on 30 December the mandatory delisting following a six-month suspension kicks in unless the company gets its accounts to December 2015 out.

Another day on the Casino: Filthy 40 China Africa yesterday “knows of no specific reason” for share price move; today restructuring and discounted placing ahoy

Published 64 days ago

Shares in ShareProphets AIM-China Filthy Forty play China Africa (CAF) suddenly had a rocket under them late on Monday. Having been bumping along the bottom at around 4p for months on end, all of a sudden they shot up on Monday to 7.5p and a “know-of-no-reason” RNS duly followed at midday yesterday. This morning they have shot higher again clocking up a peak of 16p. But now, less than 24 hours after knowing of no specific reason for the share price move, the company has ‘fessed up that a restructuring and placing are on the way. 

Lost money on China Frauds Naibu, China Chaintek, JQW & Camkids - here's a mad idea

Published 65 days ago

Did you lose money on any of the Fujian Four? We hope that you took our warnings seriously and did not but now there is hope if you ignored us and lost out. Or is there? I refer you to the website of China Resolutions which claims that it may get your money back.

Filthy 40 Aquatic Foods – Q3 trading update

Published 67 days ago

Shares in ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) put on 35% on Friday, following release of a third quarter trading update. Drilling through some of the numbers they seem to be impressive, begging the question of why an apparently profitable and cash-generative company which is drowning in cash worth about three times its market capitalisation would be considering its dividend policy, having chopped the half-year payment by 71%.

Filthy Forty Asian Citrus – update on Fraud allegations. Oh dear, oh dear, oh dear….

Published 72 days ago

Back on 29 September ShareProphets AIM-China Filthy Forty purveyor of Biblical plagues and rotten oranges Asian Citrus (ACHL) announced that its shares were being suspended pending an audit investigation of allegations which appeared to amount to potential fraud. This morning we had an update: it does not look good.

Filthy 40 Taihua – where, oh where, oh where is that share buy-back?

Published 74 days ago

ShareProphets AIM-China Filthy Forty play Taihua (TAIH) has been promising a share buy-back since the launch of an Open Offer to shareholders which was being conducted, apparently, in order to pay for it. Sorry to sound like a broken record, but the buy-back was first promised on 25 August and we are now well into November. The last update from the company was on 30 September (interims, released on deadline day) when shareholders were told that the company expected to announce the mechanics of this Godot-esque buy-back “shortly”. That was more than five weeks ago.

Sepura – Potential takeover: will it be fireworks or a damp squib?

Published 75 days ago

By any standards, Sepura (SEPU) has had a tough year, losing about 90% of its value since March, but could things finally be taking a turn for the better with some late night takeover talk and how will things play out from here?

HaloSource – “Trading Update” = Loss & Cash Warning, desperate strategic review ahoy…

Published 77 days ago

Having consistently over the last year warned on shares in HaloSource (HALO) – most recently HERE – I note they currently more than halved today, heading towards 1p, on the back of “an update on trading ahead of the year ending 31 December 2016”

Stuttard’s Septic Seven update: off to a flier!

Published 82 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!

Filthy Forty Taihua – where, oh where, is that share buy-back?

Published 85 days ago

At risk of sounding like a broken clock, ShareProphets AIM-China Filthy Forty play Taihua (TAIH) announced a comical open offer which, apart from a bit of working capital, was to fund a share buy-back. That was back on 25 August – more than two months ago. So where is it?

China fraud Taihua – where is the buy-back? A case-study in procrastination.

Published 95 days ago

Back on 25 August this year ShareProphets AIM-China Filthy Forty play Taihua (TAIH) issued a comedy RNS announcing an Open Offer which was to be used in part for working capital and in part to fund a share buy-back. The working capital we can all understand, given the audit qualifications in its FY15 results and the content of its recent interims. But what about the share buy-back?

F40 Asian Citrus: acquisition circular delayed (well I never!) How long until Nomad walks?

Published 97 days ago

Already suspended ShareProphets AIM-China Filthy Forty play Asian Citrus (ACHL) announced this morning that there has been a bit of a delay in getting its circular together in relation to a property acquisition first announced back in August which seemed riddled with related party issues. Since then the company’s shares have been suspended from trading on the Casino amid allegations of accounting irregularities which have led to a delay in releasing its FY16 accounts. 

Prefer Emerging Markets to the Developed World? Ashmore Could Give You More

Published 97 days ago

Hello Share Munchers. I’m quite a fan of investment in emerging markets. My main reason is that they have room to grow as poverty-prone populations become, well, a bit less poverty-prone. I suppose I’m mainly thinking about India and China. Together with many African countries which are not doing at all badly, despite common perceptions to the contrary.

It's Not the Chattanooga Choo Choo, but It Is a Choo and It's on Track

Published 98 days ago

Hello Share Mashers. To my cost most of the time, I am drawn to buy shares in companies which have eye-catching names. For example, I remember with regret my ill-fated investment in a cartoon maker called Sleepy Kids. Which makes me a little wary of commending to you an outfit called Jimmy Choo (CHOO.L) However it has a few points in its favour to make it worth a look on grounds other than monicker bias.

Time to sell Glencore (and other big miners) before the markets take a tumble

Published 106 days ago

I have been very pleased with the way that Glencore (GLEN) has performed since I covered it here a few months back, but I now feel that it is time to cash in, at least for the time being.

Audioboom – agreement for investment from China “not yet been reached”, surely not to be cash crunch ahoy AGAIN!

Published 108 days ago

On 5th August Rob Proctor, CEO of spoken word audio platform Audioboom (BOOM), was “pleased to report that Audioboom has made further tangible progress in H1 2016, growing revenue, securing significant new content partners and further broadening its geographic distribution”. However, the financials showed it was cash crunch ahoy. Less than an hour later it was placing ahoy and there is now a “Strategic investment discussions update”

Filthy Forty – Taihua Interims and two rather large RED FLAGs

Published 110 days ago

Well, all of the remaining ShareProphets AIM-China Filthy Forty got their numbers out yesterday - with the exception, of course, of the now suspended MoneySwap (SWAP) and Asian Citrus (ACHL) whose auditor is taking a rather close look at the bank accounts. The ouzo will have to wait, but the pop-corn went down well anyway. Included in the last-minute Charlies was Taihua (TAIH) and a rather large looking Red Flag is to be found here. Let me explain….

Filthy Forty Reporting Season Update: two down (suspended), six still to report as the clock runs down.

Published 112 days ago

Ten days ago we identified ten of the (only) seventeen still-listed members of the ShareProphets AIM-China Filthy Forty which had a results reporting deadline of tomorrow (Fri 30 Sept) to meet. Actually, it was eleven as although Asian Citrus (ACHL) has a year-end of March it is dual listed in Hong Kong and only gets three months to report its finals there. But it won’t make it and has been suspended – as has MoneySwap (SWAP) which can’t get its accounts out on time. Which of the Filthy Forty are still to report, with just one day to go?

Marcus Stuttard, Sham Sheriff of AIM: here is your specially selected AIM Portfolio. Good luck, pal.

Published 112 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.

Filthy Forty Asian Citrus – a FRAUD as shares are suspended?

Published 112 days ago

Strike two. The September reporting season has just taken its second victim of the 17 remaining members of the ShareProphets AIM-China Filthy Forty. Asian Citrus (ACHL) has announced that it can’t get its numbers out by tomorrow’s deadline for the HK Stock Exchange in the wake of allegations over conflicting bank statements and books which have triggered further audit work so as to get to the bottom of it. Thus the shares are to remain suspended over here (having had the plug pulled yesterday lunch time, “pending an announcement”). Oh dear Mr Marcus Stuttard, the Sham Sheriff of AIM, surely this could not be yet another China FRAUD on the Filthy Forty coming to light, could it? But I thought there was no problem of fraud on AIM….

The arrogance of City folk who fail to accept there is a problem with China fraud - they are alright Jack

Published 112 days ago

A leading City broker today opined "Now for bashers of Chinese Aim stocks they can have a field day today with Asian Citrus Holdings and their announcement on why they are suspended." Bashers of Chinese AIM stocks? Bashers? For the thousands of private investors who have seen their pensions raped by China frauds as City advisors have banked vast fees and prospered let us put those words into context.

Game, set, match. Mr Stuttard: two case studies proving the regulation of AIM is not fit for purpose

Published 112 days ago

In the wake of the Radio Four broadcast regarding AIM fraud on Tuesday, and as we approach the climax of the September reporting season, two companies on the ShareProphets AIM-China Filthy Forty which have now reported prove beyond doubt that the regulation of Sham Sheriff Marcus Stuttard’s beloved world’s most successful growth market is completely unfit for purpose. Those two companies are Jiasen (JSI) and Aquatic Foods (AFG). Mr Stuttard and his team of Oxymorons at AIM Regulation may protest that they are doing a good job and that there is no problem. The facts clearly demonstrate otherwise.

Dear Aunty – about that AIM Fraud radio programme last night…..

Published 113 days ago

It was an interesting experience listening to the Radio Four show “File on Four” yesterday evening at 8pm. It was a programme about fraud on AIM, with a big focus on the China Frauds we have exposed right here on ShareProphets. There have been plenty of other frauds which have resulted in Tom Winnifrith being in receipt of lawyers’ letters, death threats and much more besides. And with reference to the China Frauds, it is here that you read it first. So why is it that the Beeb didn’t bother to get in touch with us directly?

Filthy Forty Haike Chemical – first out of the traps this week with interims. Red Flags for breakfast?

Published 114 days ago

Well done to ShareProphets AIM-China Filthy Forty play Haike Chemical (HAIK) for being first to stick its head above the parapet this week with the release of its interims to June. One down, nine to go. The PR reads well enough: profitable for the half, lots of cash in the bank. That’s the spin – but what about the Red Flags – such as negative net current assets?

Vote Now in the Filthy Forty Pongy Poll! Which will be the next F40 casualty of the Sept 2016 reporting season?

Published 117 days ago

Last year’s Sept reporting season saw a raft of casualties as members of the ShareProphets AIM-China Filthy Forty either failed to release numbers on time and/or saw the Nomad quit. With less than one week to go until deadline day for interims to June 2016 (or finals to March 2016) there are ten of the remaining 17 members of our iffy index still to report (or announce that they won’t). Which will be the next to get suspended?

ShareProphets China AIM 'Filthy Forty' update – further more than half our index not 'Geong, Geong', but Gone…

Published 117 days ago

Just over two months on since our previous update and two more ShareProphets China AIM 'Filthy Forty' companies have followed Geong International and co in 'Geong, Geong' and then gone - and another has been suspended...

Filthy 40 Origo Partners: "Notice of Results" = profit warning

Published 118 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued a notice of results RNS on Wednesday, telling us that its interims to June 2016 will be released on reporting deadline day of Sept 30th. But the statement also had a massaging down of expectations slipped into it. Oh, alright, let’s call it a profit warning – but how bad?

Filthy Forty MoneySwap – shares suspended: more ouzo at ShareProphets Towers

Published 120 days ago

Well that didn’t take long: at 9.53 up goes our piece (HERE) pointing to the possibility that ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) could find itself suspended out of the blue with no warning (apart from HERE) and lo and behold the shares are suspended 37 minutes later (see HERE) because the company can’t get its accounts to March out on time. In view of this and in honour of the disappearance of QE Mr Stewart Dickson (formerly Dick) from Nomad Cantor Fitzgerald in the wake of the African Potash (AFPO) scandal (see HERE) I have changed my name to Mystic Meg.

Filthy Forty MoneySwap – share price falls below proposed bailout

Published 120 days ago

I wondered HERE whether the proposed rescue refinancing of stricken ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) could get into a spot of bother as the shares were sliding. Now they have slipped below the mooted bail-out price of 0.2c per share.

Filthy Forty – interims deadline looms: yet more executions afoot?

Published 122 days ago

Of the original 40 AIM-China companies we identified as our ShareProphets Filthy Forty, the steady attrition has seen that number whittled down to just 17 companies. The period either side of the reporting deadline for calendar 2015 numbers (30 June) saw further departures, but last year’s interims deadline saw a queue for AIM’s Death Row develop. How are we looking this time?

Tom Winnifrith Bearcast: Crashing with China, Krispy Kreme and the trainwreck CV of Lyin' Chris

Published 123 days ago

In today's podcast, recorded before my father in law hogs the TV room to watch Songs of Praise, I look at what the Krispy Kreme IPO in Londron means, at signs of the mother of all crashes in China and what the CV of destruction from lyin' Chris of African Potash (AFPO) exposed HERE earlier - means. Am I a hypocrite on this matter. Er...no.

Filthy 40 Taihua – Open Offer (to fund share buy-back) result: it’s a rum’n’coke

Published 123 days ago

In the curious world of ShareProphets AIM-China Filthy Forty play Taihua (TAIH) we have now had the result of the Open Offer which was announced in order to raise funds to pay for a share buy-back. I’ve got a great idea to get Jeremy Corbyn elected into Downing Street: let’s raise the basic rate of income tax in order to fund a cut in the basic rate of tax. I digress….This is, of course, all from a company which saw its Auditor issue a going concern emphasis of matter and a qualified opinion on its FY15 accounts in relation to trade receivables.

Filthy 40 Origo Partners – still a bargepole ahead of EGM

Published 124 days ago

A week on Monday sees ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) put a series of proposals to its shareholders which it hopes will finally draw to an end the ongoing dispute with Brooks Macdonald in relation to the non-redemption of a tranche of its zeros dividend convertible preference shares. The last effort at this ended up with shareholders defeating proposals aimed at a resolution, but perhaps this time – with the threat of an orderly wind-up under the watchful eye of the Isle of Man Court in mind – perhaps it will be different this time. But the shares remain a bargepole in my view.

HaloSource – half-year results claim ‘optimism for the future’, but is there?

Published 128 days ago

HaloSource, Inc. (HALO) has announced results for the first half of 2016 emphasising that a “new technology platform, coupled with our focus on penetrating the fast-growing Reverse Osmosis markets in China and India continues to reinforce the optimism we feel for the future performance of the business”. In response, the shares are approaching 14% lower, at 3.125p. Hmmm…

Filthy 40 MoneySwap – death postponed (again)

Published 134 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.

Filthy 40 Haike Chemical – yet more Red Flags as it admits 50% overstatement in trading update

Published 135 days ago

ShareProphets AIM-China Filthy Forty play Haike Chemical (HAIK) took the biscuit this morning with an update that its last trading statement was just sheer hogwash. If it was uninvestable before, finding out that an “administrative oversight” led to a 50% overstatement of revenue which has taken almost seven weeks to come to light ought to have investors shying away from their bargepoles even if wearing asbestos gloves.

Origo from the Filthy Forty – Execution No. 24 pencilled in for a week on Monday as photos arrive at ShareProphets Towers

Published 139 days ago

It rather looks as though the ShareProphets AIM-China Filthy Forty is set for its twenty-fourth execution, in the form of Origo Partners (OPP) which has now been suspended pending financial clarification for just under the six month period which triggers automatic delisting under AIM Rule 41 (if, that is, the Oxymorons at AIM Regulation bother to enforce it). The ouzo is on ice.

China Fraud MoneySwap – CEO walks at no-one-is-watching o’clock. Is it bust yet?

Published 140 days ago

Last night at no-one-is-watching o’clock (5.30pm) ShareProphets AIM-China Filthy Forty play Moneyswap (SWAP) announced that its CEO, Ms Sunny Yu had walked the plank with immediate effect. Has the cash run out yet, and will Nomad Allenby follow suit?

Filthy 40 Asian Citrus moves into property. How much cash is left?

Published 140 days ago

My thanks go to Cynical Bear for spotting the latest missive from the ShareProphets AIM-China Filthy Forty purveyor of biblical plagues, Asian Citrus (ACHL). Having seen a pretty complete disaster unfold over the last few years, the company has decided to make a move into the property game in order to broaden the sources of income and to boost the business performance of the group. Call me a cynic: given the history of natural disasters, plague, locusts and invasions by Martians, how long will it be before the buildings in question are found to be suffering from concrete cancer?

Filthy Forty – Univision prepares for court where there is only ever one winner

Published 145 days ago

The last time we covered ShareProphets AIM-China Filthy Forty play Univision Engineering (UVEL) is was in the wake of a profit warning regarding the trading performance of a unit it owned 52.25% of and was trying to sell. But there was also the threat of m’learned friends taking a slice as the jilted bride involved in the sale of a tranche of the company rattled the sabre. On Wednesday came this:

ACEEEEEED!! Filthy 40 Taihua – on drugs as it announces Open Offer to pay for share buy-back.

Published 147 days ago

Well this is a most bizarre situation. ShareProphets AIM-China Filthy Forty play Taihua (TAIH) has announced an underwritten one-for-three Open Offer at a 134% premium so that it can fund a share buy-back (and keep back a few quid for working capital). Has the company been taking too many doses of its own medicine?

Xaar shows resilience in changed macro conditions

Published 148 days ago

Alphabet-busting inkjet technology company Xaar (XAR) released interim results this morning. The shares might be worth a look as the company continues to show good signs of resilience.

Galasys – yet another rat deserts the s(t)inking ship as the company tries to pretend that it still has WH Ireland as Nomad.

Published 148 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!

Mayair: if it looks like a China Norfolk & walks like a China Norfolk

Published 149 days ago

Such is the current febrile state of the markets that even China scams are being bid up with gusto. Take Mayair (MAYA), which purports to sell clean air filters in China and floated on AIM in May last year at 130p. Its shares, having gone down in a straight line to 40p (as insider selling outweighed the constant barrage of good news that these companies always come out with) have doubled to 84p in the last month as summer madness takes hold. The company itself was forced yesterday to say there is no reason for the rise. Indeed.

Filthy Forty – Yet another AIM execution as number 23, LED, finally bites the dust two month late

Published 150 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.

In Gold We Trust

Published 150 days ago

With the USA recording a higher than expected number of new entrants into the workforce last month, the markets are hopeful that there will be a rate hike in September and that US dollar’s weakness might be over and the optimists are now forecasting a 3.8% third quarter rise in real GNP but recent services data out of the USA has pointed to a weaker number. The second quarter GNP figure which had widely been expected to come in at +2.8% turned out to be only +1.2%. With capital spending following profits downwards and the world economy continuing to be weak, only consumer spending and bank consumer credit lending has kept the US economy rolling along. 

Filthy 40 Origo Partners – settlement deal on the table (again)

Published 151 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) has had its shares suspended from trading pending clarification of its financial position since 11 March this year, and with a six-month timetable to AIM execution due to expire next month things were looking dire until a no-one-is-watching o’clock RNS at 4.50pm yesterday. It seems as though there may be some light at the end of the tunnel. Has the Filthy Forty turned up some good news? I rather suspect the answer to that may just be yes.

Tom Winnifrith Bearcast - I don't believe a single word you say or write

Published 153 days ago

No more public service calls today, I would not want you thinking that I am a nice guy: yesterday was a one off! Lucian seems to have found a new China Norfolk over on the Nifty Fifty. I look at AEC (AEC) which should not be on AIM, On-Line (ONL) and its relationship with ADFVN (AFN), Glenwick (GWIK) and Golden Saint Resources (GSR) which - after this - is simply not investable or credible in any way shape or form. And there is more to come. On the bull tack I look at Independent Oil & Gas (IOG).  Yes I did say bull tack!

Haike Chemical - Any more Red Flags for Tea Vicar?

Published 155 days ago

Shares in Haike Chemicals (HAIK) have more than trebled since the spring but do not get suckered in as this is almost certaintly just another common or garden AIM listed China Norfolk. I am grateful to a correspondent in China who writes:

Tom Winnifrith Bearcast: come on Dad it is not a hard sum!

Published 156 days ago

These old folks they need mental exercise. Crosswords, jigsaws, Soduku, easy questions from their son. But my father fails on the how many days till Glenwick (GWIK) is suspended question. He says his mind is on higher things. Meanwhile I am still traumatised from being seen buying a copy of the Guardian for him. I look at Red Rock Resources (RRR), Glenwick, Leed Resources (LDP), Aquatic Foods (AFG) and China frauds, BoxHill (BOX) and naughty Lord Razzall - how is the bailout placing going your lordship? And I commend the recent work of Daniel Levi (Brokerman Dan) on Mkango Resources (MKA) where the old rogue is bang on the money. Mkango is truly worthless.

Filthy 40 China fraud Aquatic Foods: “Technical administrative delay” sees dividend postponed.

Published 156 days ago

Oh dear, oh dear. This does not look good. ShareProphets AIM-China Filthy Forty China fraud Aquatic Foods Group (AFG) has announced that it hasn’t paid its full-year dividend of 0.7p per share due to a “technical administrative delay”. Is that because there isn’t any cash?

Bull, Bull, Bull! This is Not A Load of Bull. The Rise of the Footsie Should Continue.

Published 159 days ago

All Right. I know I am in incurable bull. But it is an attitude which has served me well over the years. Enough to make a living out of trading shares, anyway. We are in a gradual bull market now. This surprises a lot of folk, because the Brexit vote was expected to hit business hard. And yet - and this puzzles me, too - the Footsie has not been as high as it is now for a long, long time. It’s now only a whisper off its all time high record 

666, Bitcoin crash, if you are first it's not panic

Published 164 days ago

Bloomberg reported late last year that China had founded a working group to explore the use and possible partial adaption of the supranational Special Drawing Rights currency, in a clear sign that it wants a new global currency and that it wants the dollar removed and replaced in its role as facilitating global commerce and it now looks that we are very close to the first SDR issuance in the private sector since the 1980s.  The International Monetary Fund itself published a paper discussing the use of private sector SDRs in July and noises out of China’s central bank imply that an international development organisation will soon issue SDR bonds in China, according to Chinese media group Caixin.

Filthy 40 GTS Chemical – delisting number 22, more to follow

Published 170 days ago

As expected it was announced this morning that ShareProphets AIM-China Filthy Forty play GTS Chemical (GTS) has had its listing on AIM cancelled after its shareholders passed a resolution to depart the Casino. This was always a foregone conclusion as there was a (vast) majority shareholder calling the shots, but it marks the twenty-second Filthy Forty departure from the world’s most successful growth market out of our original cohort. Shocking.

Servision - new NED to reassure on dodgy accounts? You're 'avin' a giraffe!

Published 171 days ago

AIM-listed Servision (SEV) has announced the appointement of a new NED. If that is supposed to reassure in the face of Tom Winnifrith's complaint to the FRC over the "interesting" accounting going on at the company then the CV of new appointment Mr Anthony Legge is just jaw-dropping.

Filthy 40 MoneySwap – heads you lose, tails er….

Published 172 days ago

ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) has made no secret lately of its dire financial predicament. The investment case appears to be that it either gets a refinancing (with a new board) and survives – but with the new money coming in at a significant discount, or it does not in which case it is bust.

Filthy 40 China Africa down 36% today: how long until it is bust?

Published 175 days ago

Leading the losers board today currently is ShareProphets AIM-China Filthy Forty play China Africa Resources (CAF) with (last seen) a stonking drop of 36%. There is no news today, but yesterday’s interims, released at lunchtime, might provide the clue: it’s not pretty – the company needs to raise cash.

China New – tardy Zambia RNS, shocking. When’s the placing?

Published 176 days ago

If you ever wanted a case-study in Red Flags then look no further than the FY15 results of ShareProphets AIM-China Filthy Forty poster-boy China New Energy (CNEL). This is a company festooned in them. Just for starters, let’s take a look at yesterday morning’s RNS and the involvement of its “independent” NED. It just stinks. Never mind about AIM Rules, let’s get the share price up so that we can get more confetti issued.

HaloSource - another (lack of) revenue warning, seemingly remains on path to cash crunch ahoy!

Published 177 days ago

In May I questioned whether the HaloSource, Inc. (HAL) sale of its Recreational Water business was all as it initially seems – and the company now updates that “total revenue from continuing operations for the period ended 30 June 2016 was $1.4 million (H1 2015: $2.7 million)” and “a cash balance of $4.1 million”. Hmmm…

Filthy 40 GTS Chemical: delisting as from 1 Aug close confirmed by AGM vote

Published 178 days ago

As previously noted HERE, ShareProphets AIM-China Filthy Forty constituent GTS Chemical (GTS) was proposing to delist from the Casino (which was why it cancelled its previously promised dividend despite a growing cash-pile, er…) and today’s AGM statement confirmed that this will take place at the close of play on 1 August. 

Hooray!! Deputy Sheriff 1, Oxymorons 0 as F40 LED International heads to Death Row

Published 183 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.

China fraud: Haike Chemical loses CFO. Uh Oh…..are we on a familiar path to oblivion?

Published 183 days ago

Oh dear. One of the traits of the China Frauds is that so often the precursor to the wheels coming off the subterfuge is the resignation of the finance director. And so this morning’s announcement from ShareProphets AIM-China Filthy Forty play Haike Chemical (HAIK) that its Chief Financial Officer stepped down on Monday with immediate effect “for personal reasons” is a stand-out Red Flag. So is the tardy announcement.

F40 LED International Holdings - where are the bloody Interims?

Published 185 days ago

In its results to June 2015, which were finally published almost six months late and were heavily qualified by the auditor which not only raised a material uncertainty in the Going Concern statement but also issued a disclaimer of opinion on a number of matters in the accounts, we were told that the board of the Filthy Forty's LED International (LED) anticipated the (now more than three and a half months late) interims to Dec 2015 would be announced during the first half of July...

Bargains Store Could Be Bargain for Share Shifters, too.

Published 185 days ago

Hello Share Twiddlers. One of my favourite stores in my nearest big town is B&M (BME). It is a natural successor to Woolworths, which used to be my number one store. Yes, we all know what happened to the high street Woolworths, but in dark times, which many of our citizenry claim to be experiencing, it’s the stores which offer bargains that are most likely to thrive.

ShareProphets China AIM 'Filthy Forty' update – now more than half our index not 'Geong, Geong', but Gone…

Published 187 days ago

Approaching two months on since our last update and another ShareProphets China AIM 'Filthy Forty' company has followed Geong International and co in 'Geong, Geong' and then gone - and another has announced its proposed departure...

China FRAUD LED, useless AIM Regulation and AIM Rule 41: I despair. And where are the Interims?

Published 188 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.

Great news - EJ is back with lines in appreciation of sacked George Osborne

Published 189 days ago

After a long sabbatical, our resident poet E J Thribb(ance) is back - inspired by the departure of George Osborne from Her Majesty's Government. Over to EJ.....

China fraud Aquatic Foods – shares roofing it: surely a statement required?

Published 191 days ago

There are so many Red Flags surrounding ShareProphets AIM-China Filthy Forty Aquatic Foods (AFG) that it is hard to know quite where to start. One could consider the discount to cash, to profits, to assets and wonder why there have been no buy-backs announced just for starters, but there are plenty more to be found HERE. So why have the shares been roofing it?

Eastbridge Investments executed as the Filthy 40 Death Toll hits 21

Published 191 days ago

As predicted HERE ShareProphets AIM-China Filthy Forty play Eastbridge Investments (EBIV) had its one-way trip to the AIM execution chamber last night. It becomes the twenty-first AIM Casino departure on the Filthy Forty. There are more to come, it is just a matter of time.

Why AIM’s woeful regulatory environment makes it a hotbed of FRAUD.

Published 193 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.

China fraud LED International Holdings and AIM Rule 41: when a rule isn’t a rule at all

Published 194 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….

Newmark Security – from “look(ing) forward to updating the market further” to profit “significantly less” in less than 2 months

Published 197 days ago

Having on 18th May been “pleased to provide” a trading update, “delighted to announce several new client wins” and “look(ing) forward to updating the market further at the time of the group's full year results”, security systems provider Newmark (NWT) today just “provides” a trading update. Uh oh…

Filthy 40 AIM Casino Elimination Stakes – you were right! (so far…)

Published 200 days ago

It seems that Yougov, Mori and whatever else the pollster are called these days have a thing or two to learn from ShareProphets polling. They keep on getting it wrong, but our readers responded to the question of how many delistings and suspensions were coming on the ShareProphets AIM-China Filthy Forty over four weeks from 17 June and half of respondents said two or three. So far, it is bang on. Mind you, there are still a few days to go.

Filthy 40 MoneySwap refinancing proposals as equity faces big dilution

Published 200 days ago

Friday after-hours saw a no-one-is-watching o’clock proposal released by ShareProphets AIM-China Filthy Forty play Moneyswap (SWAP). IF all goes according to plan then existing shareholders will be diluted very heavily as the bailout money gets most of the equity (at quite a discount to Friday’s closing price). If not then the company goes bust. But you can’t say you were not warned.

China FRAUD Taihua - another stinker of a set of results from the Filthy 40

Published 201 days ago

ShareProphets AIM-China Filthy Forty play Taihua (TAIH) released its FY15 numbers on Thursday – deadline day to avoid suspension under AIM Rules. But they were released after-hours at 4.52pm: talk about last-minute. The numbers are a horror, but then so is the Auditor’s Qualified opinion, and the material uncertainty warning in the Going Concern Statement.

Filthy 40 – China New Energy FY15 results: a stinking POS festooned in Red Flags

Published 201 days ago

ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) has seen us hoist the Red Flag on several occasions before (see HERE) but its FT15 results, released on deadline day (Thursday) take the biscuit. The company is, quite simply, a disgrace and its advisers (Nomad Cairn and disgraced Broker Daniel Stewart) should be ashamed.

China fraud 40 Jiasen – drowning is cash, generating cash, profitable, PE<1, cancels dividend. Why might that be?

Published 202 days ago

Having traded as high as 6.25p just six weeks ago, shares in ShareProphets AIM-China Filthy Forty Jiasen International (JSI) have collapsed down to just 3p after it scraped over the line to release its calendar FY15 numbers on deadline day yesterday. The numbers are, of course, wonderful…which is why the company which is drowning in Red Flags (oops) cash has cancelled the full year dividend.

China fraud LED International Holdings and AIM Rule 41: is AIM Regulation asleep at the wheel (again?)

Published 202 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:

Filthy 40: Hooray! ANOTHER Nomad resignation as Eastbridge joins Death Row

Published 202 days ago

Three strikes and you’re out: ShareProphets AIM-China Filthy Forty Eastbridge Investments (EBIV) – the former China Wonder and then Quihang – announced the resignation this morning of its Nomad, Northland Capital Partners, with immediate effect. The shares are consequently suspended, and if no replacement is found within a month then it is lethal injection time. Mind you, there is a rather more pressing deadline in ten days, in that Eastbridge will be given the boot anyway if it can’t fulfil its investing policy as an AIM investment company by then. Since that was reliant on some hare-brained plan to raise more cash, that surely will now not happen. In short, Eastbridge is toast.

Filthy Forty AIM Casino Elimination Stakes: now in the final furlong but a loose horse has already crossed the line!

Published 203 days ago

The race to see which of the twenty remaining ShareProphets AIM China Filthy Forty companies clocks up a suspension/delisting is hotting up as we enter the final furlong. Yesterday saw the loose horse of Grand Group (GIPO) – a non filthy forty runner but an otherwise well qualified AIM-China play nonetheless – cross the line first with a suspension as it can’t get its accounts out on time. But with a surprise late run GTS Chemical (GTS) now looks clear of the field as they head for the line after announcing plans to delist in August, subject to the forgone conclusion of a vote at its AGM.

NorthWest Investment Group – FY15 numbers from the Filthy 40 Investment company which doesn’t invest

Published 203 days ago

I kid you not: this company has been on the Casino since joining in June 2010 as an investment company with assets of about £3 million and has never invested a cent. Yesterday, ShareProphets AIM-China Filthy Forty company Northwest Investment Group (NWIG) released results for calendar FY15: it still hasn’t invested a cent. But the money is disappearing.

China fraud GTS Chemical to delist and so cancels dividend (obviously). 21 down.

Published 203 days ago

And so the ShareProphets AIM-China Filthy Forty is to be reduced by yet another company to just nineteen as GTS Chemical (GTS) has decided to up sticks in the best interests of its shareholders. For some reason this, apparently, serves as a perfectly valid reason for the company to bin the full year dividend which had previously been earmarked for an increase.

F40 Aquatic Foods FY15 results. You’re ‘avin a giraffe, right? And a message for AIM Regulation.

Published 204 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.

Grand Group – another AIM-China stock suspended!

Published 204 days ago

AIM-China play Grand Group (GIPO) only joined the Casino in January 2015 and consequently missed inclusion in the ShareProphets AIM-China Filthy Forty despite sporting outstanding credentials: Cayman Islands incorporated, ownership of assets through VIE arrangements. Oh and a cash-pile to die for. On listing, investors must have been sorely tempted to grab a grand. This morning the shares were suspended because it can’t get its calendar 2015 accounts out by tomorrow’s deadline. Oops.

Filthy Forty AIM Casino Elimination Stakes – update as the race enters the final stages

Published 205 days ago

I previously highlighted that a good few of the twenty remaining ShareProphets AIM-China Filthy Forty faced a reporting deadline of Thursday this week, 30 June. In honour of Royal Ascot we ran a poll which showed that readers of ShareProphets reckoned on two or three suspensions/delistings to come over the next (now) just under three weeks. The race has now entered the final three furlongs…how are the runners and riders looking?

For those who respond to emails from Nigeria - how do you fancy a 70% dividend on an AIM share?

Published 208 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.

Jiasen Results Delay - For Whom the bell tolls...it tolls for thee

Published 209 days ago

China fraud Jiasen (JSI) may well be enjoying its last few days on the AIM Casino as we have news today of a shock delay to its results. Do you want to bet if they will appear at all?

China Fraud LED International Holdings – FY15 (to June!) numbers but Audit comments suggest they are not worth a candle. Nomad Allenby MUST resign NOW!!

Published 210 days ago

ShareProphets AIM-China Filthy Forty play LED Holdings (LED) has finally got around to releasing its full year results to June of last year. They are audited numbers, but the Red Flags in the audit report are so shocking that surely the Nomad to this company, Allenby, has to resign on the spot. Is it really good enough for an AIM-listed company to produce numbers against which the auditor issues a disclaimer of opinion?

Filthy Forty Fraud, China New Energy – so much for the institutional placing!

Published 211 days ago

On 9 June 2016 ShareProphets AIM-China Filthy Forty play China New energy (CNEL) announced that it had raised £750,000 from a subscription by funds managed by an institutional fund manager at a price of 2p (a 25% discount to the prevailing price). Ah, so the big boys had invested? Er….

China FRAUD AIM Casino Elimination Stakes – Poll Result: two or three more casualties on the way

Published 213 days ago

There are just twenty of the ShareProphets AIM-China Filthy Forty still listed – and three of those are currently suspended from trading. In honour of Royal Ascot we asked readers how many suspensions/Nomad resignations/AIM expulsions we would see from those remaining twenty over the next four weeks. 

Advanced Oncotherapy Red Flag Season part 3 - Tell us about Sinophi?

Published 214 days ago

On 25 March 2015 Advanced Oncotherapy (AVO) announced what it claimed was a major breakthrough in China, what it termed the "first major sale of a LIGHT system" in China. Well that was the headline. The customer was a firm called Sinophi. The shares zoomed on this $40 million order. Jolly good news. 37 days later the company raised £20 million in a placing at 8p. But did anyone care to look underneath the PR spin? No. Lets start with Sinophi Healthcare Limited.

Reader Poll: Hooray, it’s Royal Ascot! Place your bets for the Filthy Forty AIM Casino Elimination Stakes

Published 216 days ago

ShareProphets is delighted to bring you the Filthy Forty Casino Elimination Stakes in celebration of Royal Ascot - it is time to place your bets! Which of the twenty remaining members of the ShareProphets AIM-China Filthy Forty will be suspended, head over to AIM’s Death Row following a Nomad resignation or be executed over the coming four weeks?

China FRAUD? MoneySwap, PCG Entertainment former chairman – a look back in history: the post-match analysis

Published 221 days ago

Kung Min Lin is the former chairman of ShareProphets AIM-China Filthy Forty MoneySwap (SWAP) and PCG Entertainment (PCGE) – having stepped down from both in the last six months or so.  We have been taking a look at the history of Sportswinbet (SWB) which joined the Casino in 2005 – with Kung Min Lin as Exec Director – which went on to become Power Capital Global (PCGB), with Kung Min Lin moving up to the role of Chairman. The history of both is riddled with related party transactions involving his brother, Heng Jui Lin, and his Kolarmy vehicle, and things came to a sorry end last December. Continuing with Cynical Bear’s football theme (it is, after all, the Euros!), it is time for the post-match analysis.

FRAUD EXPOSE: MoneySwap and PCG Entertainment – a look back in history at the former chairman and his brother. All to play for as the second half really gets going….

Published 223 days ago

Mr Kung Min Lin served as Chairman of Filthy 40 MoneySwap (SWAP) and PCG Entertainment (PCGE). But before that he served as Exec Director of AIM investing company Sportswinbet (SWB) from the 2005 IPO, which went on to become Power Capital Global (PCGB) with Mr Lin as Chairman. You can follow the progress of the first incarnation HERE. But we’re back from the break and with what's left of the £3 million raised in 2005 it’s now time for the second half: Mr Kung Min Lin’s brother comes to the fore.

F40 MoneySwap and PCG Entertainment – a look back in history at the former chairman and his brother. It’s a game of two halves….

Published 224 days ago

Picking up on Cynical Bear’s footballing analogy and having previously wondered whether there might be a skeleton in the cupboard of ShareProphets AIM-China Filthy Forty MoneySwap (SWAP) in the light of last week’s ‘fessing up by fellow Filthy Forty PCG Entertainment (PCGE), further digging reveals a festival of Red Flags. Look no further than the previous stamping ground of MoneySwap and PCG Entertainment (PCGE) former chairman, Mr Kung Min Lin, at Power Capital Global Limited (PCGB), which started life as Sportswinbet (SWB) in 2005. Here are the first half highlights.

Filthy 40 China New Energy – placing and rampfest, BARGEPOLE!!

Published 224 days ago

ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) has seen its shares heading higher in the last few sessions on the back of expectations of contract developments in Zambia. It is all still yet to be confirmed, of course, and in any case the mooted deal seems a tad incestuous to me. Oh, and it involves an Investment and Protection Agreement (IPPA) – whatever that may be (but I fancy that an IPPA is a different thing to a contract!) Well blow me down with a feather: this morning we had a placing announced – at a very healthy 25% discount to yesterday’s close.

Tom Winnifrith Bearcast- China Fraud specialist Paul Shackleton & the accounts cock up at Croma

Published 225 days ago

He has emerged again from under another stone. Now at disgraced WH Ireland (WHI), Shackleton represent a company called Croma (CSSG) which has not covered itself in glory today. I take a detailed look under its bonnet. Ho Ho ho. I do the same for Ambrian (AMBR) where Richard "piggy" Chase once worked and then discuss Nyota (NYO) which he trainwrecked suggesting a fair price for the placing it urgently needs. Ouch! And there are a few words on corporate governance, executive greed and Advanced Oncotherapy (AVO)

Gooch & Housego - Lighting up the AIM market

Published 226 days ago

Gooch & Housego (GHH) is engaged in the field of photonics, i.e. lasers and other light-related technologies. The shares have been on an incredible bull run for the last several years and are a more than 20-bagger from the 2009 low. Today’s interim results are the perfect moment to review performance.

FastForward – Uber ramp as new Nomad/Broker signals Placing Ahoy

Published 232 days ago

I have a few questions to add to Tom Winnifrith’s and Cynical Bear’s coverage of the fine outfit that is AIM-listed FastForward Innovations Ltd (FFWD). I’m sure there are perfectly reasonable explanations, but perhaps the company might like to share them – especially with a placing so obviously on the way as the (re-) renewal of what was once the AIM-China play called London Asia Chinese Private Equity Fund (CGOP) continues.

Filthy 40 MoneySwap – loan drawdown and a nasty read-across from PCG Entertainment which needs a full Steward’s

Published 233 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.

Filthy 40 Univision – profit warning

Published 233 days ago

Shares in ShareProphets AIM-China Filthy Forty play Univision Engineering (UVEL) are currently trading 17% lower after the company announced a profit warning in relation to the poor trading performance of its 52%-owned Taiwanese subsidiary T-Com Technology Co. Ltd. This is not the only issue facing the company, however.

When you can hear the Bitcoin ice cracking - you know there’s a crisis coming.

Published 233 days ago

We got an indication of what the Chinese may do on Monday morning on the Yuan's morning fix, after Yellans bullish comments sent the markets rushing to update there forecasts on the date of the next US interest rate rise-I think July. Because on Saturday, unprecedented volume of bitcoin buying out of China, sent the digital currency soaring to the highest level since 2014, as insiders fled the Chinese currency and so to script on Monday the official exchange rate of the onshore Yuan was lower by nearly 0.5%, from 6.5490 to 6.5794, the lowest fixing in more than 5 years, or February 2011.

PCG Entertainment - shocking trading statement, just shocking

Published 233 days ago

With a heavy heart, since good friends are involved in PCG Entertainment (PCGE) those of us who had hoped that it was the China AIM play that would work out well, today look in dismay at a share price cratering and a trading statement that is just shocking beyond belief. This was meant to be the good China play..what does that say about the rest?

Oil Together Now - as We Roll Out the $50 Barrel of Fun.

Published 237 days ago

Hello Share Changers. What gave me the arrogance to say that the oil price would rally quite nicely this year was experience. Though I am no longer an energetic young trader, I have been plying our golden game since I first dated Bodicea. So I know that when the price of a commodity falls, it always bounces back. Always. So the recovery of oil was never the world’s greatest prediction.

Filthy Forty – news from the Norfolk Province of AIM as reporting deadline looms

Published 240 days ago

The ShareProphets AIM-China Filthy Forty is already down to just 20 AIM-listed companies, with a further three currently suspended. The calendar FY2015 reporting deadline is now looming (30 June), which last year saw a splurge of suspensions and Nomad resignations as companies either failed to report or their advisers decided enough was enough. But we’ve had a good few RNSs in the last few days, so it is time for a rancid round-up!

Tom Winnifrith Bearcast - the facts of life for a whinger from the Liverpool welfare safaris

Published 241 days ago

I start by putting one scouser straight on how things work in the real world. Then it is onto DDD Group, China Norfolk Aquatic Foods (AFG), Glenwick (GWIK), Sovereign Mines of Africa (SMA), Wishbone (WSBN), R4E (R4E) - go Dr Hon! -  and Gulf Keystone (GKP).

ShareProphets China AIM 'Filthy Forty' update – half our index now not 'Geong, Geong', but Gone…

Published 243 days ago

A couple of months on since our last update and more ShareProphets China AIM 'Filthy Forty' companies have followed Geong International and co in 'Geong, Geong' and then gone...

Video: Tom Winnifrith grills Johnny Hon at UK Investor Show

Published 248 days ago

In this interview I put controversial Mr Hon of Gate Ventures (GATE) fame on the spot about the Gate fiasco on AIM, the Chinese economy ( a bubble?) and about China fraud on AIM. Enjoy

Filthy Forty – MoneySwap enters the last chance saloon

Published 254 days ago

Yesterday we had a funding update from cash-strapped ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP). It seems that there are negotiations going on, with hopes that a funding deal worth $4.5 million (call that £3.125 million) can be closed. Meanwhile we are told that some keep-the-lights-on short term funding has been arranged. 

Scary Chart Time: China and what might happen or might not

Published 254 days ago

Now there are some definite bearish thoughts and views running around at the moment so I feel this morning we should explore a little bit. The first big worry is Chinese debt – has it got out of control or can the Party control it ?There is an article in the Economist last week discussing this which gives a very good summary and you should all read it,

Tom Winnifrith Bearcast 8 May -Don't fall into the trap Malcolm (Stacey) admit that facts have changed

Published 256 days ago

In today's podcast I chide my colleague Malcolm over an article he runs tomorrow on Inmarsat (ISAT). He makes the mistake, as we all do, of failing to accept that facts have changed. I explain why Inmarsat is certainly NOT a buy but then also reflect on why J Hon Esq makes the same error on China and on why I am so bearish on equities and, in accepting that, why the case for gold grows stronger.

Burberry - Investing for Growth to 2030

Published 256 days ago

The FT reported this week that Burberry is considering the appointment of a senior manager to assist CEO Christopher Bailey (who also acts as Chief Creative Officer), although the company itself declined to comment. In my view, the negative commentary which occasionally haunts Burberry’s share price can provide some attractive and relatively straightforward buying opportunities.

Filthy 40 Jiasen – the silence is deafening.

Published 256 days ago

Marcus Stuttard, the Sham Sheriff and head of AIM told The Times a week ago that he thought he had got the regulatory framework of AIM absolutely right and that people wouldn’t invest if they felt there was any kind of problem with the regulation... So I thought it was time to take another look at Jiasen (JSI) of the ShareProphets AIM-China Filthy Forty. After all, the derisory rating suggests the market is less than happy with this stock and its results for FY14 were released in mid-April last year: we are now well into May 2016 and thus far there is no sign of FY15 numbers. I wonder why….

The Firm that Launched 100 Ships May Cruise to Greater Glory.

Published 257 days ago

Hello Share Turners. It’s Carnival (CCL) time again. I’ve commended to you before the biggest leisure cruise company in the world. Let me update that view. Carnival is the face of British capitalism that launched 100 ships. That’s enough for 212,000 berths, or sleeping places as we non-nautical types like to say. It operates under a few famous names, including  P&O Cruises, Cunard, Swan and Princess. And it does cruises, well, all over the place.

Filthy 40 Walcom FY15 numbers: Red Flags abound - but who for, Mr Stuttard?

Published 258 days ago

Despite being part of the ShareProphets AIM-China Filthy Forty, Walcom (WALG) has rather slipped under the radar. Our apologies for this oversight are due. Yesterday the company released FY15 results. I have no idea what the company does, but the numbers presented seem to raise rather a lot of Red Flags. But are they fluttering for the company or for the Sham Sheriff and head of the oxymorons at AIM Regulation, Mr Marcus Stuttard?

Marcus Stuttard, head of AIM: look in the mirror, old boy, look in the mirror.

Published 261 days ago

Last week’s AGM held by the London Stock Exchange Group (LSE) saw some biting criticism of AIM from our very own Tom Winnifrith and also from Mark Bentley of ShareSoc. What better way to counter the barrage than for the  Sham Sheriff, Mr Marcus Stuttard, to get a soft interview in The Times (see HERE)? But in the article Mr Stuttard reveals that he simply has no idea at  all. Unless, of course, there is a completely different AIM market on Planet Zarg…..

Sell in May...not a question but the ONLY sensible option

Published 261 days ago

Economic bubbles are sustained only so long as sufficient monetary fuel is being laydaled out. Over time, such economies are characterised by deep structural maladjustment, the consequence of years of underlying monetary excess. Rampant issuance of money and Credit is always at the root of these distortions in investment and spending patterns. Asset inflation and price Bubbles invariably play central roles in fragility hidden just under the surface.

Stock Exchange chairman Brydon tells AGM he reads Tom Winnifrith - as AIM Sheriff quizzes board

Published 267 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.

Red Flags at Night: F40 MoneySwap – signs of a cash crisis?

Published 268 days ago

ShareProphets AIM-China Filthy Forty member MoneySwap (SWAP) issued an after-hours RNS last night which looks to suggest that the cash is fast running out. As one of my seven stocks to get suspended where shareholders could lose 100% from last November, might it be that kill number three (and F40 kill number 21) is not far off?

Treat Yourself to Saturday's UK Investor Show - and Possibly Save Thousands of Pounds.

Published 269 days ago

Hello Share Mates. If you don’t plan to go to our UK Investor Show this Saturday (April 30), then may I humbly suggest that you should give it a go. And may I quickly say that I have no percentage stake in the event, so the numbers attending make no difference to me. But I hope you grab a free ticket HERE and let me explain why you'd be mad not to.

Galasys – courting disaster or just a farce?

Published 274 days ago

We have been covering AIM-listed, but not (quite) AIM-China Galasys (GLS) through the who-is –in-charge battle since last October. There have been court proceedings in the UK, Jersey and Malaysia and here we are in April 2016 with still no resolution. Yesterday morning the company issued an update: Jersey proceedings were suspended as a kiss-and-make-up negotiation was underway, and in Malaysia a ruling went for the company and its directors (one of them former) but seems to have been appealed.

Revisited: Seven Stocks to get suspended where shareholders could lose 100%

Published 277 days ago

For the November issue of the UK Investor magazine (latest issue HERE) I was asked to name seven stocks which could get suspended and where shareholders could lose everything. I thought I’d take a look back over the seven: Jiasen (JSI), JQW (JQW), Auhua (ACE), MoneySwap (SWAP), Rurelec (RUR), Golden Saint (GSR) - all on AIM - and main market listed Kenmare (KMR).

AIM-China Red Flags at Night: Grand Group boardroom departures

Published 279 days ago

Hmmm, a Chinese company domiciled in the Cayman Islands lists on the Casino and less than sixteen months on there appears to be a bit of a procession going on, with two directors walking the plank with immediate effect in consecutive days. Sound familiar? 

How to play the China recovery mining stocks to buy says the Monkey

Published 279 days ago

I do not think that China is recovering. Andrew Monk of VSA does. Whatever. In the interests of balance here are a few words from the broker today:

How to Take a Stake in India's Progress With a Punt on a Port

Published 280 days ago

Hello Share Mashers. Perhaps it’s time we looked at an unusual share which I brought to your attention once or twice last year.Skil Ports and Logistics (SPL) has a big project in the making. This means it cannot make profits now and all our hopes are in the future. But the scheme has real potential in a country which has the attention of the investing world.

People will ignore the facts until it is too late.

Published 283 days ago

The main lesson to be learned from market history and particularly from yield-seeking bubbles is not that valuations are irrelevant, nor that central bank intervention is capable of sustaining bubbles permanently, but that Investors fall prey to the delusion that easy money can support stocks once risk-aversion sets in (recall 2000-2002 and 2007-2009). Investors must not make the same mistake of discarding the essential lessons that valuations have taught in complete market cycles across a century of history.

F40 Origo Partners set to remain suspended until (at least) late July

Published 284 days ago

On Friday at 5.36pm, no-one-is-watching o’clock, ShareProphets AIM-China Filthy Forty member Origo Partners (OPP) updated on court proceedings in the Isle of Man with regard to the winding-up petition presented last month.  The trial date is set for Friday 22 and Monday 25 July, which means that shares in Origo will remain suspended pending financial clarification until then. Unless, of course, Nomad Smith & Williamson decides enough is enough and resigns.

ShareProphets Requires New Editor Again - Tom Winnifrith seconded to FCA

Published 293 days ago

The good news is that Filthy Lucre will have less to moan about on this website. The bad news for fraudsters is that ShareProphets  needs a new editor as Tom Winnifrith has been seconded to head up a new team at the FCA - with immediate effect as of noon today, April 1.

China Norfolk Asian Citrus profits warning – how long until the corporate undertakers are called?

Published 295 days ago

ShareProphets AIM-China Filthy Forty purveyor of Biblical plagues, Asian Citrus Holdings (ACHL) has updated the market on its latest calamity. Apparently it grows oranges too, but its main product these days does seem to be natural disasters that prompt ( lack of) profits warnings.

How to spot a China Fraud – China Law Blog

Published 295 days ago

The ShareProphets AIM-China Filthy Forty is today officially reduced to just 20 companies remaining listed on the Casino (Auhua, ACE, being the latest dispatch following a Nomad resignation and no replacement being found). But is it a problem specific to the Casino? It seems not, according to an interesting post by Steve Dickinson in China Law Blog (see HERE), but there are some simple tests which can be applied – take note AIM Nomads – which gives a very good indication of whether you are looking at a fraud or not.

Another Filthy Forty AIM execution as Asia Ceramics is given the boot

Published 296 days ago

Another day, another one-way trip to the chamber of no return. Asia Ceramics Holdings plc was formally given the heave-ho this morning to make it the nineteenth member of the ShareProphets AIM-China Filthy Forty to leave the Casino. Tomorrow we hit twenty – the half way mark – as it is the turn of Auhua (ACE) to join leave the world’s most successful growth market.

Rurelec – is this anything to worry about?

Published 296 days ago

Two weeks ago AIM-listed IPSA (IPSA) – a Peter Earle trainwreck – released its annual results to March 2015. The report contained an Adverse Opinion on Financial Statements issued by Auditor Grant Thornton which detailed two issues, one of which was the recoverability of £1.8 million from another Peter Earle trainwreck (although he has since departed that particular scene), AIM-listed Rurelec (RUR).

ShareProphets China AIM 'Filthy Forty': Easter 2016 update - more 'Geong, Geong' & set to be 'Gone'…

Published 300 days ago

Another month, more ShareProphets China AIM 'Filthy Forty' companies set to follow Geong International and co in 'Geong, Geong' and then gone...

KAZ Minerals has risen too much too quickly - bank profits!

Published 302 days ago

KAZ Minerals (KAZ) has made a fantastic comeback in recent months, but has now reached a level where I think that the risk versus reward has swung in the other direction, and I’d be more inclined to be selling the shares rather than looking to buy.

China Daily: London bidding to lure more Chinese companies? My heart sinks.

Published 305 days ago

According to a report in China Daily Europe a new wave of Chinese company listings are [sic] expected in London as the London Stock Exchange ramps up its efforts to attract Chinese firms. With the stench of the ShareProphets AIM-China Filthy Forty in full nauseating flow, seemingly unaddressed, my heart sinks. 

Buy Standard Chartered for longer term recovery

Published 305 days ago

Banks have had a torrid time over the past few years, and few have been hit quite so hard as Standard Chartered (STAN), but this could present a longer term buying opportunity.

China fraud GTS Chemical – clarification required: has the CEO been offloading shares?

Published 307 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.

China fraud Jiasen – oops, another NED walks

Published 309 days ago

Our sincere apologies for missing the fact that ShareProphets AIM-China Filthy Forty play Jiasen (JSI) slipped out a board change RNS at lunchtime on Friday last week. I guess we were all in the Punter's Return at the time. It seems that Mr Curt Riley has resigned as a NED as from the end of May.

Not Scared of UK Bank Shares? This One Makes a Good Account of Itself.

Published 310 days ago

Hello Share Scrimpers. Here I go again - recommending a bank for your scrutiny. I sometimes wonder why I bother, as the big British banks have an eight-year-old habit of letting us down.

F40 Origo – a history lesson in reading Admission Documents

Published 311 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) remains suspended pending financial clarification as shareholders face a grim high noon in the Isle of Man courts when the majority holder of (now defaulting) zeros looks set to get the company forced into wind-up.

The Key Macro Indicator of China GDP is Loo Seat Growth

Published 311 days ago

Do you believe official Chinese data on economic growth? No, neither do I. But you are seeking a reliable indicator well here it is - growth in the sale of lavatory seats. I kid you not. A leading broker explains.

Filthy Forty Origo suspended pending clarification: Kill number 23 out of 40, 17 to go.

Published 314 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.

F40 Origo faces winding up order. Why are the shares still trading?

Published 315 days ago

It comes as no surprise at all. ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) had already made no secret that it would be in no position to meet a required $12 million redemption on its Zeros by Tuesday's deadline, which would constitute a default. Why the shares are still trading is beyond me. Surely if Nomad Smith Williamson cannot secure a suspension pending financial clarification it could just resign in order to force the issue. But it gets worse.

A Shine on Platinum Should Put a Sparkle into Lonmin's Share Price

Published 317 days ago

Hello Share Plungers. Miners have had a really bad time of it. But the thing about bad times is that there are cycles at work and bad times can become good times. The tragedy is that recoveries only rarely equal and, even more unusually, exceed pre-crash levels.

F40 Origo - last chance for the Walkers?

Published 318 days ago

Tomorrow is an important deadline for ShareProphets AIM-China Filthy Forty play Origo Partners (OPP). It has a $12 million bill to pay and the company has already warned that it hasn't got the cash. The payment was due to be made to satisfy a planned partial redemption of Zeros. Suspension pending financial clarification, anyone?

F40 Asian Growth Properties – proposed disposal triggers big re-rating but Red Flags are too big to ignore

Published 321 days ago

Some good news from the ShareProphets AIM-China Filthy Forty in the form of a proposed disposal by Asian Growth Properties (AGP) was detailed on Tuesday. At its last set of numbers interims to June 2015 the company stated NAV per share at 125p and until recently the shares had been trading at a fraction of that (sub-20p). The news saw the shares race away to close at 46.5p mid, although they gave some back on Thursday. 

China fraud Aquatic Foods Trading Update: drip, drip, drip - the water torture continues in a sea of Red Flags

Published 323 days ago

ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) released a trading statement yesterday for its full year to Dec 2015. I commented that the last trading statement had more holes than a fish-net and yesterday’s serving of fishiness lowers none of the Red Flags previously raised. 

ShareProphets China AIM 'Filthy Forty': End Feb 2016 update - yet more companies Geong, Geong, Gone…

Published 324 days ago

The following updates our China AIM 'Filthy Forty' table as at the end of February. Despite the utterings of the London Stock Exchange and George Osborne, more of the companies Geong, Geong, Gone? You bet…

China AIM Not quite a Fraud Asian Citrus Interims – plague upon all its houses

Published 326 days ago

ShareProphets AIM-China Filthy Forty company Asian Citrus Holdings (ACHL) released its interims to Dec 2015 on Friday. They made grim reading as the effects of Huanglongbing disease, bad weather as well as frogs, locusts, Martians and any other plagues one might care to think of all took their toll. This must be the unluckiest company in orange growing history. 

ShareProphets AIM-China Filthy Forty – the City’s roll-call of shame. Time for a full inquiry.

Published 326 days ago

The ShareProphets AIM-China Filthy Forty was launched on 15 August 2015, just 197 days ago, as a way of tracking what a concentrated stinking cesspit this mini-sector of the Casino was. At the time, already ten of the forty had left world’s most successful growth market for a variety of reasons: two had been booted off the Casino for failing to publish accounts, a further five had been booted off after a Nomad resignation and no replacement appointment, and three had delisted in, cough, the best interests of shareholders. One further company was, at the time, suspended as its Nomad had quit but the one month grace period to find a new one had not yet expired. (That duly became the next AIM-China execution).

Asia Ceramics heads for AIM’s Death Row as yet ANOTHER Filthy Forty Nomad resigns

Published 327 days ago

It is hard to keep up. We called Auhua “Clean is my middle name” Energy (ACE) as the 21st AIM delisting/suspension on the ShareProphets AIM-China Filthy Forty as its Nomad steps down effective first thing on Monday, but at no-one-is-watching o’clock last night up popped Asia Ceramics (ACHP) to say that its Nomad had resigned. So Auhua will have to settle for 22nd place.

F40 Origo - Trading Statement: how long until suspension pending clarification, or will Nomad walk first??

Published 327 days ago

At 12.41pm today ShareProphets AIM-China Filthy Forty commodity investment company Origo Partners (OPP) issued a trading statement which reads like a suicide note. One wonders how long this one has left on the Casino: will it be suspended pending clarification, or might we see the Nomad, Smith & Williamson, walk the plank first?

China fraud Auhua becomes suspension/delisting number 21: full inquiry into systemic regulatory failure needed NOW!

Published 328 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.

Auhua Clean Energy - you have until 4.30 PM to sell: tick tick tick tock...kerboom

Published 328 days ago

Oh dear it looks as if another China fraud is set to be marched off to the AIM casino death row this weeked ahead of a formal execution in one month. Auhua Clean Energy (ACE) has until Sunday night to find a new Nomad following the resignation of Grant Thornton a month ago. And quelle surprise....

This Firm is Steeling Itself to Make Bigger Profits. It May Just Do it

Published 329 days ago

Hello Share Samplers. It’s time to look at another construction company, I fancy. Yes, many of them have had a poor recent past as far as share values go, but times may be a changing. After every bad period comes a good one, as long as your firm is not simply a poor operator. Or the market turns against you.  Or what you make or do becomes outmoded and unwanted.

Scoop: WH Ireland - after FCA Fine: staff to be told of wholesale redundos this week

Published 331 days ago

Yesterday afternoon I revealed HERE that the FCA would stiff disgraced pensioner mugging stockbroker WH Ireland (WHI) with a large fine. Sources claiming to be close to WH Ireland pooh poohed my story. They should have known. The Sheriff was not wrong. Today came the fine ( £1.2 million), a 72 day ban on taking on new corporate clients and news of a £1 million placing at 90p to keep the lights on...but WH Ireland is still not telling you everything. Here are two more scoops.

China AIM Frauds A problem of Regulation – Reader Comment

Published 331 days ago

ShareProphets has been following the fortunes of forty companies on AIM which had China connections of one form or another – so far eighteen have departed (most of those because the Nomad resigned, others for failing to publish accounts and a small number just decided to delist). It is a shocking record, as is the aggregate share price performance of those 40. I am drawn to a reader comment from Andy (referring to one F40 member) which, I think, sums up the problem now facing the regulators.

China fraud Auhua - circling the plug-hole

Published 332 days ago

Aside from the imminent suspension of AIM-listed DQ Entertainment (DQE) as its Nomad resigns today, shares in ShareProphets AIM-China Filthy Forty play Auhua "Clean is my middle name" Energy (ACE) shares are also on the slide once again.

China Fraud JQW – GM boots out NEDs but when were UK Investors told?

Published 332 days ago

Already booted off the Casino after is all became too much for poor old Cairn Financial to continue as Nomad and Broker to ShareProphets AIM-China Filthy Forty play JQW (JQW), it seems that the company called a General Meeting to dump three NEDs. An announcement on the JQW investor relations website  details the passing of the resolutions, but what about the Notice of General Meeting? When did investors find out about it?

This Engineer Could Power Ahead in a Niche Market.

Published 332 days ago

Hello Share Tusslers.  We've had a few good days on the Stock Market.  Nothing to get excited about, though, as the old shares have done so badly of late, that the rally hasn’t made much difference. So far. 

China AIM fraud Auhua Clean Energy – a last chance to escape as the fat lady warms up in the wings?

Published 337 days ago

Time is running out for ShareProphets AIM-China Filthy Forty poster-boy Auhua Clean Energy (ACE) to find a new Nomad. It was announced on 29 Jan 2016 that the current incumbent, Grant Thornton, had given notice that it was to quit the post with effect from 29 Feb 2016 (a week on Monday). Barring a miracle (and we know that AIM Regulation has been keen to discourage Nomads from taking on China plays where the previous Nomad has resigned) then shareholders have until Friday of next week to get out or face being lobster-potted.

F40 Origo Partners: The Noose Tightens

Published 338 days ago

I previously commented (HERE) in the wake of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) seeing shareholders reject proposals aimed at settling a dispute with the majority holder of its Zeros, Brooks Macdonald, that the company seemed to have a bit of a problem. In particular, one might note that the company had already ‘fessed up that it would not be able to meet scheduled redemptions next month. Now Brooks has made a move as the noose tightens.

China Fraud Aquatic Foods - drip, drip, drip the torture continues

Published 338 days ago

Following on from yesterday's piece on ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG) we see that the shares are still sliding. Drip, drip, drip - the Chinese water torture continues. 

AIM China Fraud Aquatic Foods: Chinese water torture

Published 339 days ago

Tom Winnifrith has already done an open-top bus ride around all the Red Flags flapping away at ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG). But if the Red Flags are enough to drive you towards the sell button there is another problem: the spread is now so wide that it is equal to the bid price. Talk about being lobster-potted.

F40 LED International Toasts Chinese New Year with a Rum’n’Coke of an RNS

Published 343 days ago

Already suspended for failing to produce its accounts to June 2015, ShareProphets AIM-China Filthy Forty play LED International Holdings (LED) gave out a Chinese new year update on Monday which covered a number of matters – not least of which is the overdue accounts. And the binning of a JV which started life as a proposed RTO. And the non-completion of an acquisition first announced back in March 2013. And a warning that its working capital position is constrained because its customers are not paying their bills. And the company needs to raise cash or restructure debts. Apart from that everything’s fine!

Time to bank some gold profits for now

Published 344 days ago

With turmoil on markets across the world, gold has seen a resurgence in popularity since the start of the year. It was as recently as late autumn of 2015 when many seemed to be predicting that gold would drop below the $1,000 area, and could possibly even go as low as the $800-850 range.

If bond markets are to be believed, the world is heading for a global recession.

Published 346 days ago

No longer able to convince the world it’s got China’s economy under control, the government in Beijing is now using ever do more desperate measures. China’s economic weaknesses have been well documented. Among other things, there are significant amounts of bad debt, a rapidly ageing population, fanciful “official” statistics, growing labour unrest, and a host of inefficient, bloated state-owned enterprises. Of course much of this has been known for years,

F40 Origo Partners – is it bag of crisps time? 0p ahoy?

Published 349 days ago

This surely is terrible news for shareholders in ShareProphets AIM-China Filthy Forty play Origo Partners (OPP): an RNS shortly before close of play yesterday saw the announcement of the results of a series of meetings which had been called to consider the restructuring of a series of debts (or, rather, convertible zero dividend preference shares). The holders of the zeros voted it through but, oh dear, those pesky ordinary shareholders did not. The result: Origo could be toast.

Galasys – trading update warns of possible material profit miss whilst it sorts out who its directors are

Published 350 days ago

The farce continues apace with AIM-listed Malaysia and China play Galasys (GLS). This morning we were served up with a rum’n’coke for breakfast in the form of a trading statement. On the one hand there was plenty of blather about numerous and significant new contracts being won, but on the other there are ongoing legal actions in the UK, Jersey and Malaysia to sort out who actually runs the company and we are warned that the costs could put a big dent in the bottom line.

Take A Bullish Look at a Bank in a China Shop?

Published 350 days ago

Hello Share Swingers. A big question of the moment is: has the China crash on the value of our shares has been overdone? I’m not the only commentator by a long chalk who thinks that it has. Naturally Uncle Tom disagrees with me. 

Tom Winnifrith Bonus Bearcast - China Norfolk Aquatic Foods Red Flag special

Published 351 days ago

Aquatic Foods (AFG) has been on the AIM Casino for exactly one year but its shares have slumped from 70p to 15p bid. The FD walked the plank today and surely Nomad SP Angel which raised £9.3 million for this POS 12 months ago must realise that the end is nigh. In this podcast I look at the numerous red flags. This one is going down.

Hooray! China Sports is finally booted off ISDX

Published 352 days ago

And so, at long last, the ISDX executioner has performed his task - almost seven months after POS China Sports Development (CSDP), the formerly ISDX-listed investment company was suspended for failing to make an investment. As discussed at some length HERE it seems that this should have happened some weeks back, but rather belatedly it appears that ISDX does apply its rules after all. Albeit three and a bit weeks late.

Auhua - where has the Chinese website gone?

Published 353 days ago

On Friday, China fraud Auhua (ACE) announced that its nomad, Grant Thornton, was quitting as at 29 February but it said it was talking to other Nomads. Perhaps anyone happy to represent a China fraud might start its due diligence by asking where Auhua's Chinese website had gone?

China fraud Auhua – heading for Death Row, but what about the Broker situation?

Published 355 days ago

Eighteen Filthy Forty members have already gone and they are still queuing up. Jiasen (JSI) took the heat earlier in the week (and there is more to come on that one) and we already have LED Holdings suspended for failing to release its accounts. Then there is Asian Citrus (ACHL) which looks set to run out of cash – or orange trees – before long. But at the back end of the week came a late surge from Auhua (ACE) to claim pole position for the next expulsion of a China fraud from the AIM Casino.

Another China fraud bites the AIM casino dust: Auhua is heading for death row

Published 355 days ago

We have warned you often enough that China AIM Norfolk Auhua Clean Energy (ACE) was just not fit for purpose and today its Nomad Grant Thornton has give it one month's notice that it will quit... Auhua says it is talking to another Nomad, yeah right...

FRAUD Jiasen - cratering again. What happened to your 1500 employees?

Published 357 days ago

Ok this is an easy question. In the RNSs released by ShareProphets AIM-China Filthy Forty member, Jiasen (JSI) the 'Notes to Editors' has helpfully told us the number of workers employed at its factory in Nan'an City, Fujian Provice (AIM-China Fraud central), China. For what it is worth I do not believe a word it says on this matter for reasons explained HERE but maybe Jiasen can guide us all?

FTSE 100: Bear trend intact but rebound is expected

Published 358 days ago

The stock market sell off came amid concerns that the stock market slide itself together with the slowdown in China will cause more capital outflows. Faced with a falling stock market and growing pessimism about the economy, investors are moving money out of China and into countries with better returns.

Jiasen – down another 23%. Is the end nigh?

Published 358 days ago

I note that in the wake of our recent coverage (HERE), shares in AIM-China Filthy Forty play Jiasen (JSI) have cratered another 23% today (last seen) to 2.875p. There has been no news (so far) today, but one senses a bit of a rush for the exit going on.

China FRAUD Jiasen – GOTCHA! The LIE in its Interims

Published 359 days ago

We shall, for a moment, suspend our disbelief over the stated cash position of ShareProphets AIM-China Filthy Forty member Jiasen (JSI). Let us, for a moment, simply take the company at its word. Deeper analysis of yesterdays trading statement numbers shows a horror story unfolding, and casts a strange light on previous statements from the company. I suggest that what follows shows that Jiasen is toast, and uninvestable.

Rick Rule: Uranium, Gold and Silver, China and Oil

Published 359 days ago

Rick Rule of Sprott is perhaps the world's best known resource stock investor and thus not a man to be ignored. In this podcast with my colleagues at Palisade Capital his warning on energy stocks is clear, the opportunity - selectively - is in mining plays. I agree.

China fraud Jiasen – profit warning, where has all the cash gone?

Published 360 days ago

An RNS is meant to inform. Of course, if you are delivering bad news you might not be so keen to inform the market quite as fully as you could and that brings us to a profit warning from ShareProphets AIM-China Filthy Forty member Jiasen (JSI). Tom Winnifrith commented after its Interims to June 2015 that it was either a fraud or he was a banana. And so today Jiasen produced a very uninformative trading statement which looks for all the world to be designed to mislead.

George Soros warns you - the crash is underway not over

Published 360 days ago

There’s was no shortage of excellent commentary from market heavyweights last week thanks to the World Economic Forum in Davos, but the most revealing probably came from George Soros who gave a sweeping interview to Bloomberg TV, on Thursday, touching on everything from China to Fed policy to Vladimir Putin to Europe’s worsening refugee crisis. As for China, Soros says he “expects a hard landing,” saying that "A hard landing is practically unavoidable," and adding. "I’m not expecting it, I’m observing it.

Galasys – court update on farcical boardroom bust-up

Published 361 days ago

We have previously reported (HERE) on the farce that is AIM-listed Galasys (GLS), the company where two directors were announced to have stepped down only for those directors to resort to law. There are three sets of legal proceedings – in the UK, Jersey and Malaysia and the company updated the market on Friday morning: it looks set to drag on for some time. Just who is in charge in the meantime? Anyone?

Gold to Shine with the Market’s Decline!

Published 362 days ago

Naturally I still believe in gold and the metal is now showing a bit of strength - there is more to come. But - as I have noted before - you need to invest selectively. That is the thesis of Gwen Peston of Resource Maven ( another woman in mining!) who explains her views to my colleagues at Palisade Capital in this week's podcast. I am not sure about her take on China though... 

F40 Taihua – Oh Dear: time for the Walkers?

Published 363 days ago

Tom Winnifrith has already raised a few awkward questions about ShareProphets AIM-China Filthy Forty play Taihua (TAIH) HERE when he discussed how a profitable company (from China) with net cash of £2.5 million (as at June 2015, so we are told in the Interims) is only valued by the market at about £1 million. Yesterday saw a statement which brought to mind the now executed F40 company JQW. It all rather suggests that there is no earnings visibility and as such I would suggest that the stock could well be worthless.

F40 Northwest Investment Group parts with its Mr Wong and thanks him sincerely. What for?

Published 365 days ago

ShareProphets AIM-China Filthy Forty member Northwest Investment Group (NWIG) announced the departure of a NED, Mr Ka Ming Wong, yesterday afternoon. The thanks were effusive, but some shareholders might take a different view, given the lamentable record of this investment company which doesn't invest. It simply pisses the cash away on plc costs and administration.

F40 Univision Engineering - Chairman sells stake (again), but about the cashflow....

Published 366 days ago

I was overly rude about AIM-China play Univision Engineering (UVEL) the last time I wrote about it. With the Filthy Forty it has tended to prove a prudent policy of being uber-sceptical. I pointed to a big slide in earnings which was in fact due to the previous year seeing a large debt being forgiven. The shares are up on the 0.65p at the time, closing last week at 0.8p (mid) on the back of an 18.5% gain on Friday, triggered by news on Thursday (after-hours, natch) that the Chairman is selling 41.5% of the company for a total of about £3.69 million from his interests which previously totalled 72.9%.

F40 China New Energy on the slide as the Red Flags pile up

Published 366 days ago

Just three weeks ago, during the no-one-is-watching fortnight of Christmas and New Year, ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) completed a keep-the-lights-on placing in what I wondered was the fastest pump and dump in history. It was, in my view, a disgraceful affair: announce what appears to be a significant contract to send the shares rocketing higher (it did) and then 39 minutes later announce a massively discounted placing into the rise. The grateful company brought in some meter money (just £200,000 before expenses) but the new shares issued represented 3.28% of the enlarged capital. Surely that is a notifiable holding?

Tom Winnifrith Bearcast 18 January - I loathe BT, it is ffing useless

Published 367 days ago

I warn you that this podcast contains bad language from the start as I discuss how - as a customer - I hate BT (BT.A) with a passion. I then move onto China Norfolk Taihua (TAIH), a brief Jabba the Hutt section on Solo Oil (SOLO) and LGO Energy (LGO) and a look at SeaEnergy (SEA). Oil disasters dominate the fallers and in that vein I cover Petroceltic (PCI), MX Oil (MXO), Iofina (IOF), Magnolia Petroleum (MAGP), Bahamas Petroleum (BPC) and Range Resources (RRL). I also have a butchers at the fun and games at Altona (ANR).

FTSE 100 weakness at the start of 2016 is ominous, 30% crash will happen

Published 370 days ago

The FTSE 100 is down 6% in the first two weeks of January, the trend has turned down after a decent bounce during the fourth quarter of 2015. The S&P 500 has turned down too and in China, it is simply a matter of time before China's stockmarket makes a new low. 

Reviewed: Performance of the most shorted London-listed shares as at the start of 2015

Published 370 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, we recently detailed the most shorted London-listed shares at the start of 2016 - see HERE. Is this worth paying some attention to? The following reviews the 2015 performance of the most shorted such shares as at the start of that year (those in bold also on the 2016 list), completing our review of 2015 (which has included of the ShareProphets writers share tips of the year HERE, the China AIM 'Filthy Forty' HERE, the AIM shares shorted HERE and the 2015 UK Investor Show bear calls HERE)...

Tom Winnifrith Bearcast 9 January: In denial, Paul Scott, Quindell & China nutters

Published 376 days ago

I deal with three sorts of folks who are in denial. Quindell (QPP)/Watchstone (WTG) owning BB nutters who still insist that Rob Terry may be innocent and I may be guilty, Paul Scott who sees value in retail stocks and the other China nutters who cannot accept that what is going on is more than a little blip. Once again I warn that this podcast contains strong language.

Selfie Machines Are Turning Japanese for Bigger Profits Next Time Round. Ref Photome.

Published 376 days ago

Hello Share Buffs. Over the last few months you may have noticed that I’ve been putting your noses up against a few Footsie companies which are often ignored by the tipsters. They are all doing ok , if you strip out the slight falls nearly every company has suffered in the wake of this Chinese thingy

China AIM 'Filthy Forty': End 2015 Performance Update (more Geong, Geong, Gone)...

Published 379 days ago

With our previous China AIM 'Filthy Forty' performance update, to mark the cancellation of Geong International, we asked 'Who's next to be Geong, Geong, Gone?' The answer has been...

LED International Holdings – yet another Filthy Forty suspension

Published 384 days ago

Our apologies are due for overlooking one of the ShareProphets AIM-China Filthy Forty companies. The RNS released by LED International (LED) three days before Christmas (HERE) almost passed us by: the company announced early in the no-one-is-watching o’clock holiday period that its shares were being suspended because it had become apparent that the Company [would] not be in a position to publish its audited report and accounts for the year ended 30 June 2015 by the deadline of 31 December.

JQW - its Happy New Year to our shareholders, we're being booted off the Casino on Monday

Published 385 days ago

ShareProphets AIM-China Filthy Forty play JQW (JQW) has served up a new year message for its now lobster-potted shareholders. It's goodbye, so long, farewell as its AIM execution beckons first thing on Monday morning. 

Yippee, it’s pantomime season! A cautionary tale from the HK stock market, ref Filthy Forty

Published 385 days ago

With a hat-tip to Graham Chester for spotting it, I bring you a wonderful tale from the Hong Kong stock exchange. Out with the frilly frocks, cross-dressed hero and wicked step-mother, and let’s get the boos and hisses going in the audience. For some time we have, on ShareProphets, been calling for full forensic audits (oh no you haven’t! oh yes we have!) of all the remaining companies from the ShareProphets AIM-China Filthy Forty which have not yet been booted off the Casino (boo, hiss!). It seems that our sentiments are perhaps not falling completely on deaf ears, for in Hong Kong we have seen exactly that taking place with a company (currently suspended) called China Animal Healthcare. But there appears to have been a bit of a snag…..

Galasys – curiouser and curiouser, cried Alice

Published 385 days ago

AIM-listed China and Malaysia hybrid Galasys (GLS) is turning into a fascinating soap-opera and the entertainment was turned up another notch yesterday. Entertainment for onlookers that is, but not for shareholders who might be more than a little concerned at the ongoing difficulty in establishing quite who is in charge – or, at least, who should be in charge – of the company.

China New Energy - the fastest pump and dump in history?

Published 387 days ago

This morning at 8.47am F40 AIM-listed China New Energy (CNEL) announced a contract worth CAD$3 million. The shares rocketed on the news, from an open at about 2p to peak at over 2.5p. Thirty-nine minutes later came the dump, in the form of a placing at just 1.5p in a keep-the-lights-on issue which raised just £200,000. Nice work, fellas - I'll bet anyone who piled in on the contract news at up to 2.5p is delighted with their purchase, with the shares now languishing at just 1.725p last seen. This is a disgrace.

Galasys – handbags farce in the Boardroom

Published 397 days ago

There’s trouble at t’mill. AIM-listed Galasys (GLS) is turning into something of a soap-opera as boardroom infighting has spilled into the public arena. Quite what happens next remains to be seen, but as things stand shareholders cannot be certain who is actually running the company. According to AIM, Galasys’ country of operation is China. It is a holding company registered in Jersey, with its main assets rolled up into a BVI vehicle.

ShareProphets RNS Translation Service: Asian Citrus “Winter Orange Crop” update

Published 397 days ago

ShareProphets AIM-China Filthy Forty play Asian Citrus (ACHL) has had a history of suffering biblical-style plague and misfortune. Maybe insurance is difficult to get, but yesterday saw the latest in the line of disaster updates from this bargepole stock. The RNS was masterful, so we have wheeled out the ShareProphets RNS Translation Service to assist our understanding of this latest catastrophic release. Original is in bold italics.

China New Energy - some answers, but questions remain

Published 408 days ago

Following THIS PIECE at the weekend we have had a communication from Mr Richard Bennett, the independent NED at ShareProphets AIM-China Filthy Forty member China New Energy (CNEL). To remind readers, we were wondering who or what was Sunbird Bioenergy Africa Limited - the outfit with which China New announced a MOU had been signed last week regarding projects in Zimbabwe and Zambia.

Tom Winnifrith Bearcast 7 December - Very Bruised by Greece today

Published 409 days ago

I refer not to InternetQ (INTQ) of which a lot more later but to an accident I suffered when picking olives this morning. I am in real pain.  I know how it feels to be a shareholder in LGO Energy (LGO) which I discuss. In today's podcast I also cover Northern Petroleum (NOP), Hardide (HDD) - in grisly detail - Hunter Resources (HUN) and take Nigel's excellent weekend piece on China New Energy (CNEL) further - this just stinks. Talking of China and Norfolk, I also note the news today from JQW (JQW). Finally I question the RNS from Forbidden Technology (FBT)

F40 China New Energy – MOUs with Sunbird, but who/what is it, and is it Placing ahoy?

Published 410 days ago

ShareProphets AIM-China Filthy Forty outfit China New Energy (CNEL) announced a memorandum of understanding with Sunbird Bioenergy Africa Limited on Friday, in relation to projects in Zimbabwe and Zambia. It also announced that the signing of any binding agreement would be treated as a Related Party Transaction since Mr Richard Bennett, China New’s sole independent NED (see HERE) is a director of Sunbird. I’ve already discussed the potential corporate governance Red Flag that I see from that (HERE) but what or who is “Sunbird Bioenergy Africa Limited”? 

F40 China New Energy – “important projects” in the offing, what about corporate governance?

Published 411 days ago

Shares in the ShareProphets AIM-China Filthy Forty outfit China New Energy (CNEL) have been on the up lately, rising from around 0.65p in mid-October to peak yesterday at over 5p a share, before closing at 3.7p. Quite a ride! This appears to have been on the back of indications that a deal was in the offing and yesterday some flesh was put on the bone.

JQW suspended - Nomad/Broker resigns - another China FRAUD bites the AIM dust

Published 414 days ago

Well, well, well. Blow me down with a feather - the shares saw a 25% drop yesterday on the biggest volume for six months and lo and behold, today the Nomad has resigned. Obviously nobody bailed it yesterday knew that this was coming. Obviously. ShareProphets AIM-China Filthy Forty company JQW (JQW) is now on Death Row, pending a one-way journey to becoming the eighteenth of the forty to depart AIM. It is also the twelfth Nomad resignation this calenday year on the Filthy Forty.

JQW - staring into the abyss as it dives 25% on no news to new low

Published 415 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?

2016 growth policies and how a mega El Nino might impact economies

Published 425 days ago

The latest Financial Orbit Speaks reviews 2016 growth rates & policies, sentiment insights, the reason we need to be thankful to China and what we should think about a mega El Nino. 

China Nonferrous Gold - NED dumping and another Red Flag

Published 426 days ago

Two RNSs in two days from AIM-listed China Nonferrous Gold (CNG) reveal that Non-Exec Director Abuali Ismatov has been selling down his holding in the company. With the company having announced the successful commissioning of its processing plant at the Pakrut gold project in Tajikistan, along with the commencement of trial production back on October 1 2015 this hardly represents a massive vote of confidence.

F40 Aquatic Foods – Trading statement with more holes than a fish-net

Published 429 days ago

ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) released a trading statement this morning. All going well despite the slow-down in China – turnover up, big cash-pile, shares at a big discount to cash etc etc. So the shares are down 15%. What?

JobSwap at MoneySwap, but what about the cash position?

Published 431 days ago

ShareProphets AIM-China Filthy Forty member MoneySwap (SWAP) has announced some boardroom musical chairs. In comes Ms. Yu Shu Fen as an executive director looking after business development. The (now ex-) CEO, Mr Richard Proksa has been replaced by the Chairman, Mr Kung Min Lin who appears to be doubling up as both Chairman and CEO - a busy chap, as he is also non-exec chairman at AIM-listed PCG Entertainment (PCGE). Mr Proksa will, however, continue as a director. But what about the (lack of) cash position? 

New Session at Gold & Bears: Tom Winnifrith 12 Questions for David Lenigas

Published 433 days ago

We have just added an extra session to the Gold & Bears show on November 28 – “12 Questions for David Lenigas”. This will be a solo slot by me in a 50 person breakout session room taking place mid- afternoon. Fireworks!

Burberry: zero revenue growth, zero profit growth…but still a buy

Published 434 days ago

A month ago almost to the day (link here) I wrote on the luxury retailer Burberry (BRBY) that:

‘The direction of Burberry shares over the next six months does largely depend on how Chinese performance is perceived.  I think they surprise these low expectations and extrapolations…And this makes Burberry shares (still) a buy today’.

Today’s formal six month numbers to the end of September released today reiterate this view. 

Filthy Forty China Rerun - another AIM-China execution

Published 437 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.

JQW – filthy forty profit warning as operations remain suspended

Published 437 days ago

ShareProphets AIM-China Filthy Forty poster-boy JQW (JQW) has this morning issued a profit warning as the suspension of operations imposed by the Chinese authorities over advertising and pyramid-selling rule-breaches continues. Surely it is only a matter of time before the shares are suspended.

Corrected: NetDimensions – blow me down with a feather, placing at 60p

Published 441 days ago

Correction: NetDimension is not formally one of the ShareProphets AIM-China Filthy Forty. Apologies are therefore due to the company. Not that it is any great excuse, AIM itself states that NetDimensions' main country of operations is China (see HERE), and the FY14 Annual Report states that its principal place of business is Hong Kong  - hence the confusion. NetDimensions states in its FY14 Annual Report that has operations North America, Europe, Middle East and Africa, Asia Pacific and China and thus is by no means a pure an AIM-China play. My apologies to all. That said.... 

Filthy Forty (and others) - who is passing these as fit? Part 8: marketing the services

Published 443 days ago

In Part 8 Graham Chester examines how the advantages of gaining an AIM listing are marketed to Chinese companies, and the help they are offered to get to market. The marketing material contains a few case studies: oh dear…..look at them now!

Who's next to be Geong, Geong, Gone? - China AIM 'Filthy Forty' performance update...

Published 444 days ago

Who's next to be Geong, Geong, Gone? - China AIM 'Filthy Forty' performance update. So far 15 down and 2 on the way out. Only 23 left standing. The average loss since IPO is a mere 46.4%. Strip out the two best performerers and two worst and the average loss is 82.5%. Shocking. So who is next for the high jump?

Filthy Forty (and others) - who is passing these as fit? Part 7 - the City's cut

Published 445 days ago

In Part 7 Graham Chester looks at the city’s cut when it comes to listing a China play on AIM and wonders whether it is good value for money – or, indeed, whether the financial due diligence process is protecting investors or just part the City’s stock promotion machinery.

New Bulletin Board Moron of the week contest – can you beat this imbecilic posting?

Published 446 days ago

If this owner of shares in China Norfolk Auhua (ACE) is not living in a council house already he soon will be judging by his quite bonkers investment strategy. Are you up for a challenge? Can you supply a more obvious Bulletin Board Moron of the week? Yes the contest is back.

F40 Origo finally corrects over currency (a week after we did)

Published 446 days ago

ShareProphets AIM-China Filthy Forty member Origo Partners (OPP) announced last week that it had rolled over a loan to $2.5 million loan to TSX-listed Kincora Copper Ltd, but it got the currency wrong (it was CAD$, not US$ as stated). We pointed this out a week ago and yesterday the company (and its Nomad, Smith & Williamson, which no doubt checked and verified last week's foul-up of an RNS very carefully) has finally 'fessed up to the error. Seven days later.

Filthy Forty (and others) - who is passing these as fit? Part 6 - cornering the market

Published 446 days ago

In part 6 of this series, Graham Chester takes a look at the share-price performance of the remaining AIM-China companies which have listed in the last five years, and who has been doing the financial due diligence. And remember, these are just the ones which are still listed. Does any of the four Reporting Accountancy ‘teams’ come out of this well, and who is cornering the market now? 

Its been a very good October so what next?

Published 446 days ago

In this week's global investment enhanced podcast, Chris Bailey the Founder of Financial Orbit discusses the strong October performance in financial markets, the challenges to Federal Reserve policy, why China is making correct policy changes, a full update on the quarterly corporate earnings round and presents a chart that perfectly explains the investment industry.

Ferrum Crescent; placement coming before Christmas?

Published 447 days ago

Dual-listed iron-ore play Ferrum Crescent (FCR) released its latest quarterly figures this morning and they contain an ominous warning for shareholders. A placement is coming, almost certainly before Christmas.

Filthy Forty (and others) - who is passing these as fit for UK markets? Part 5 - more disaster

Published 447 days ago

Graham Chester continues his stinking series on Reporting Accountants to UK-listed China plays with a look at Team Quigley at Smith & Williamson – the one-stop shop for Chinese companies coming to the UK. How do their clients fare? Er….

Camkids - Filthy Forty execution 14 with 3 more on death row. Who's next?

Published 447 days ago

AIM has this morning announced the quiet execution of the fourteenth member of the ShareProphets AIM-China Filthy Forty, Camkids (CAMK). Still on Death Row we have Geong (GNG) which tomorrow will have been without a Nomad for a month so we expect another execution at 7am on Monday. Also scheduled for lethal injection shortly is China Rereun (CHRR) which lost its Nomad 24 days ago, and Vmoto (VMT) is going for a "best interests" delisting. This reads terribly badly for the LSE - and not a single one of the Nomad resignations has been explained.

Filthy Forty - GTS Chemical Trading Update

Published 447 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?

Filthy Forty (and others) - who is passing these as fit for UK markets? Part 4. Yup, losses again

Published 448 days ago

Having examined Team Stevens and Team Lau, Graham Chester moves on to take a look at Team Wilson/Sacker at UHY Hacker Young in his continuing horror story. Once again, watch as the losses pile up.

Tom Winnifrith Bearcast 28 October - CEOs who suck up to me win no favours

Published 449 days ago

It is one month to Gold & Bears and we now have a A1 bear speaking line-up. I hope that all bearcast listeners will be coming along - details on how to get a free ticket are HERE. I then discuss the new Bond. Political correctness gone mad. Then it is onto Meggitt (MGGT), Chemring (CHG), Plutus Powergen (PPG) - a total ffing disgrace - Petra Diamonds (PDL), DJ International (DJI) - my heroes of the day - CEB Resources (CEB), UK Oil & Gas (UKOG), Auhua (ACE) and the other China Norfolks, PeerTV (PTV) , LGO Energy (LGO) and I have a warning for the board at Minera (MIRL), I have a "treat" for you guys later. Smiley face.

Filthy Forty (and others) - who is passing these as fit for UK markets? Part 3, more losses

Published 449 days ago

In Part 3 of this series about Reporting Accountants and Auditors of companies coming to AIM and ISDX from China Graham Chester looks at the record of Team Lau and its current firm of Moore Stephens. As with Team Stevens in Part 2, watch the scores-on-the-doors here as the losses pile up.

Filthy Forty (and others) - who is passing these as fit for UK markets? Part 2, a shocker!

Published 449 days ago

In Part 1 Graham Chester examined the role of the Reporting Accountant when bringing a China play to the Casino. In Part 2 it is time to look at some of the players involved. What better place to start than at Team Stevens, now at the fine firm of Crowe Clark Whitehill – auditor to quite a portfolio of Filthy Forty companies, and a few more besides. Watch the scores-on-the-doors here in terms of share price performance: it is shocking stuff.

Geong – all over bar the shouting

Published 449 days ago

In what is clearly a sign that AIM-China Filthy Forty play Geong (GNG) is headed from its cell on Death Row to the execution chamber, it has been announced that it has been deleted from the FTSE AIM All-Share Index effective Friday 30 October.

Filthy Forty (and others) - who is passing these as fit for UK markets? Part 1

Published 450 days ago

In this first part of his look at the audit and accounting of China companies on AIM (and ISDX), Graham Chester discusses the process of bringing them to the UK markets. This involves the use of Reporting Accountants…..

Prevention of Fraud and/or Error: are auditors a pointless waste of money?

Published 450 days ago

The Globo (GBO) scandal brings up the issue once again of what an auditor is there to do. Yesterday’s admission that, essentially, Globo’s accounts could not be relied upon suggests that there has been a massive failure. Auditor there: Grant Thornton. But Globo is by no means the only case of investors being misled as to the true picture in a company’s accounts.

Globo - another cracking tip from the fraud loving Chronic Investor

Published 451 days ago

Hat-tip to Alcira, straight from the organ that advised buying shares in the China Frauds, we find that the dear old Investor's Chronicle has hit on yet another winner. For on 30 September of this year - just four weeks ago -  it reiterated its advice that readers buy Globo at 38.3 pence. Whoops!

You can read the sage advice HERE

Auhua – receivables at 177% of turnover in H1 2015, er.Red Flag for breakfast?

Published 451 days ago

I’ve been looking again at the interims from ShareProphets AIM-China Filthy Forty constituent Auhua Clean Energy (ACE) and its growth in receivables since FY14 of 60% since FY14 and of 92% since the first half last year – as against pretty flat turnover and margins. As at June this year we see that trade and other receivables of RMB 200.4 million as noted under current assets sit at 177% of (slightly falling) turnover of RMB 112.8 million. That looks just a tad on the high side.

More on that Filthy Forty Origo loan of US$2.5m. Or CAD$2.5m. Can it ever get repaid?

Published 453 days ago

I’ve already covered the Filthy Forty AIM-China Origo Partners (OPP) RNS yesterday regarding the rolling over of a loan to Kincora Copper Ltd and whether it is US$ or CAD$. But there is more to this. For a start, Kincora announced to the market that it intended to settle the loan (and interest thereon) in shares! Except that it then retracted that statement. The question is why Origo did not convert the loan into shares, and why it went for the roll-over option instead. Is it anything to do with the likelihood of it ever getting repayment?

Filthy Forty Origo Partners updates on US$2.5m loan. Or is it Canadian $?

Published 454 days ago

There seems to be a spot of confusion at ShareProphets AIM-China Filthy Forty member Origo Partners plc (OPP).  Today it updated the market on an outstanding loan of US$2.5 million to investee company Kincora Copper Ltd which due for repayment on 19 July. It has been replaced by a new loan of US$ 2.5 million. The confusion is that in its interims statement, the loan was described as being CAD$2.5 million. There’s a bit of a difference (about 30% at today’s exchange rates, source: Google).

Auhua you kidding?

Published 454 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:

Updated: Has Galasys just stepped on to the China Norfolk conveyor belt to oblivion?

Published 455 days ago

Update: AIM-listed Galasys is not one of the ShareProphets AIM-China Filthy Forty although it should be. Registered in Jersey but operating in Jiangsu Province (as per JQW) Galasys (GLS) looks to be an AIM-China stock to have slipped our net. Thank you to Prophet Yomo for pointing out the small slip-up. This morning it announced the departure of its Chief Financial Officer, who is stepping down from the board and leaving the company. A non-board interim CFO is being appointed. We are also told that a NED has already left the board. No explanation is offered for either departure and, indeed, we are not even told the effective date on which the CFO goes. Oh dear – is this the first step on the China-Norfolk path to oblivion being taken by Galasys?

Hello, Me Old China! You Need Us More than We Need You.

Published 456 days ago

Howdy Share Bunnies. It’s not easy competing against the hugely entertaining and sensational revelations which appear daily on this hallowed website. But one has a duty to present the very broad economic picture from time to time to help make the right general decisions in the ancient art of share picking.

ITV Goes West To Extend it’s Telly Empire. Time to Buy, Bejabbers?

Published 457 days ago

Long-time readers of this awe-inspiring website will know that I’ve long waved the flag for ITV (ITV) as a reasonable punt.

It’s Worth Giving the Honkers Bonkers Another Look.

Published 458 days ago

Hello Share Sorters. I have a holding in the Honkers Bonkers Bank (HSBA). It’s not as big as it used to be, as I realised I was far too overloaded with its shares in the event of another dollop of bad news for banks.

Chalkstream vs Northwest Investment Group – case study in ISDX vs AIM investment companies

Published 459 days ago

In the wake of proposed changes to AIM Rules regarding investment companies and cash shells (see HERE and HERE) I am drawn to an announcement on Friday afternoon from ISDX Growth Market-listed Chalkstream (CHLK). It has announced plans to end its life as an investment company after two and a half years – and no investment. Let us compare that to the AIM-China Filthy Forty member that is Northwest Investment Group (NWIG) which has spent about five years on the Casino – and has also not invested a single penny.

Caption Competition result - in honour of Xavier "L'Autruche" Rolet

Published 459 days ago

On Friday captions were invited for the following picture, in honour of Xavier L'Autruche Rolet in the wake of yet another departure from the Casino by one of the Shareprophets AIM-China Filthy Forty.

Consortium deal cheers Oracle Coalfields

Published 460 days ago

Shahruck Khan, entrepreneurial chief executive officer of Oracle Coalfields (ORCP), says he is now ‘working towards financial closure’ for the company’s $1.5 billion (974 million) project to develop a potential 1.4billion-tonne lignite (brown coal) mine and 600-megawatt power station in south-eastern Pakistan, following a key consortium agreement with Shandong Electric Power Corporation (SEPCO) of China.

Filthy Forty: China New Energy “independent” NED Related Party deal in the offing?

Published 461 days ago

ShareProphets AIM-China Filthy Forty member China New Energy (CNEL) has announced a Statement re Press Comment which appears to raise a number of corporate governance issues. I wonder how the Nomad, Cairn, will react. The shares are flying – up by a whopping 186% last seen. Mind you, at 1.35p there is an awfully long way to go before the shares get back to the IPO price of 7p. But what is really going on here?

Caption Competition result and a new one, in honour of Xavier "L'Autruche" Rolet of the LSE

Published 461 days ago

Entries in Wednesday's caption competition were entertaining as readers poked fun at AIM Regulation's ineptitude over the Quindell (QPP) and the ShareProphets AIM-China Filthy Forty scandals. We have a winner - and a new contest in honour of Xavier "L'Atruche" Rolet, CEO of the London Stock Exchange Group as we celebrate AIM-China execution number 13, ARC Capital (ARCH).

ARC Capital – Filthy Forty execution thirteen, over half a billion wiped out. Auhua next?

Published 461 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?

Burberry’s China crisis…and why the shares are a buy

Published 462 days ago

Six weeks ago when I wrote an article for ShareProphets’ e-book The Magnificent Seven I wrote about a business with…

‘…real heritage and was founded a mere 159 years ago in 1856.  It is a large business and nestles happily in the FTSE-100 supported by brands that have a growing global appeal with net cash on its balance sheet, good free cash flow generation and a progressive dividend yield of currently just below 3%. The company used to just sell its wares from an expensive shop location but today interacts with its fans and followers digitally to such an extent that a couple of years ago its previous CEO was poached by a small technology company you may have heard of called Apple to assist with their digital brand positioning’

Well more fool me.  Burberry (BRBY) may have risen pleasantly in the month or so immediately after the e-book publication but today’s shocker statement and share price moves puts me at a loss today versus my tip level. 

Caption Competition - AIM Regulation gets a phone call

Published 463 days ago

With the Financial Reporting Council now having written to Tom Winnifrith to thank him formally for his work in exposing the multiple frauds at Quindell (QPP), the question arises as to how the oxymorons at AIM Regulation managed to ignore all the evidence they too were sent. Add to that the ongoing fiasco that is the ShareProphets AIM-China Filthy Forty (number 13 due to be booted off the Casino on Thursday) and there is surely a king-sized omlette on their collective faces.

Filthy Forty: Auhua Clean Energy – Chairman walks.

Published 464 days ago

ShareProphets AIM-China Filthy Forty member Auhua Clean Energy (ACE) reported this morning that its Non-Eec Chairman, Mr David Sumner, has walked. His replacement, Mr Raphael Tham seems to have already stepped into the role.  Oh dear.

AIM-China Filthy Forty: (yet) another bites the dust. How many before Marcus Stuttard is forced out?

Published 465 days ago

China Chaintek (CTEK) was formally expelled from the AIM Casino this morning, making it the twelfth company on the ShareProphets AIM-China Filthy Forty to leave the Casino. This followed the resignation last month of the now saintly Ray Zimmerman at ZAI Corporate Finance as Nomad. Forty companies, twelve down and four more on death row. Is it not clear as day that there has been the most inexcusable failure by Marcus Stuttard, the Sham Sheriff, and his oxymorons at AIM Regulation? If he has a shred of decency he will now resign.

Filthy Forty Northwest Investment Group – a reader writes…..

Published 467 days ago

We have already pointed out how AIM-China Filthy Forty member, Northwest Investment Group (NWIG) – the investment company which doesn’t invest – has frittered away stacks of cash on plc costs and achieved precisely nothing by way of meeting its investment goals so far see HERE and HERE . But one eagle-eyed reader has spotted a few more things which merit a wider audience. Yes, ‘David’ is back with another down and dirty look at the details given in accounts. Oh dear. He writes….

Sorbic International – a lesson in corporate governance risk on the Filthy Forty

Published 468 days ago

I was taking a look at what happened to ex-AIM listed and Filthy Forty constituent Sorbic International (SORB) after it was booted off the AIM Casino earlier this year. Can we draw some lessons? Are there some clues as to why so many of the Filthy Forty have shown that they should never have been allowed near the world’s most successful growth market? We need look no further than its interims, released on 30 June 2015 where all is laid bare, plain for all to see. It is utterly shocking. It shows that there can be no corporate governance which can be relied upon.

AIM Awards – how much cash has been wiped out so far on the Filthy Forty in 2015?

Published 468 days ago

As the crony capitalists enjoyed their Black Tie dinner tonight to celebrate the world’s most successful growth market, might they have paused for a moment to reflect on the horrific losses which have been seen this year on AIM? Fat chance. One number ought to have had the champagne going down the wrong way, and that is how much capital has been wiped out on the ShareProphets AIM-China Filthy Forty so far this year from delistings and suspensions caused by Nomad resignations. I promise you that number is a horror.

Asian Citrus: better late than never but still piss poor

Published 470 days ago

Well, it’s official. Asian Citrus (ACHL) submitted its final results for the year up to June 2015 on September 30. About time too. September 25 had been the original date. Irritatingly, as it was released with some hours to spare, investors missed the spectacle of a truly last minute Jeremy-Corbyn-esque submission of the required documents. Feeling he had missed out, this particular writer decided to play “Yakkety Sax” while reading the report and happy he owns no shares in Citrus

AIM-China Filthy Forty: fourth Nomad resignation in four weeks. Which will be next?

Published 470 days ago

The spread betters could be having a field day. Four more of the ShareProphets AIM-China Filthy Forty now on Death Row following Nomad resignations in just four weeks. Three in the past week: if this continues the whole lot will have gone by Christmas. But back to the question – which will be next? For some clues, we just have to look at what happened yesterday. Anyone still holding Jiasen (JSI) or JQW  (JQW) is, in my view, certifiable.

Tom Winnifrith - An Open Message to LSE Boss Xavier Rolet re the China Frauds on AIM

Published 471 days ago

The smug froggie cannot bury his head in the sand anymore. Another China fraud on AIM bit the dust today. I suggest that Mr Rolet accept that this is a scandal, apologise to the retail investors who have lost millions and then take 2 urgent steps to clean up this mess.

Results round-up a festival of AIM-China Red Flags at the end a festy fortnight on the Filthy Forty.

Published 474 days ago

Phew, what a scorcher! The heat really was turned up on the ShareProphets AIM-China Filthy Forty over the past two weeks. Last week we had one AIM-execution,  a suspension (and subsequent restoration) as Vmoto (VMT) announced a transaction which we find less than credible (HERE) and results from Jiasen (JSI) which prompted Tom Winnifrith to present us with a choice that he was a banana or Jiasen is a fraud. And JQW (JQW) had its operations suspended by the Chinese authorities for contraventions of advertising and pyramid-selling regulations before releasing less than convincing interims. This week saw fourteen of the Filthy Forty racing to the line to get results filed by close of play Wednesday so as to avoid automatic suspension, two of which added to the overcrowding problem on AIM’s Death Row as their Nomad quit. Here is the ShareProphets  round-up of AIM-China Red Flags served up this past week.

Filthy Forty Asian Growth Properties to sell assets for £119m, profit of £39m. Dividend? Er...

Published 475 days ago

Asian Growth Properties (AGP), a member of the ShareProphets AIM-China Filthy Forty (updated today), has seen trading in its shares on AIM resumed after a deal was announced to sell a large portion of its property assets for a gross consideration of £119 million, and achieve a gain on disposal for the company of £39 million before expenses. The recent interims showed net assets of HK$13 billion (call that about a billion pounds) which we were told represented about 125p per share, so just the profit on disposal should come in at something in the region of 4p per share. The total disposal should realise around 13p a share. It is a great piece of news for shareholders and with the shares trading at 17p (down from 36.75p at IPO) might now look forward at long last to a dividend. Or not:

Vmoto – yet another red flag from a China AIM casino joke

Published 475 days ago

AIM Casino China play Vmoto (VMT) has served up yet another red flag with an announcement that it has issued a shed load of shares to various parties. Vmoto claims to be drowning in cash but as I pointed out HERE its balance sheet is actually very weak. So today it announced: 

China AIM Casino Filthy Forty Update - 15 down, 25 to go average loss 50%

Published 475 days ago

Of the 40 China stocks listed on AIM on June 1 2014 or listed since only 25 are still trading. 11 have been booted off and 4 are on death row awaiting expulsion following the loss of their Nomad. The returns from this portfolio of doom now average MINUS 50.125%. But actually it is worse.

Asian Growth Properties Ltd – ANOTHER Filthy Forty suspension, at 13.5p vs NAV 125p!

Published 476 days ago

Not content with seeing Geong (GNG) suspended because its Nomad resigned on Tuesday, or that Camkids (CAMK) suffered the same fate on Monday, we find that a third ShareProphets AIM-China Filthy Forty suspension slipped by: Asian Growth Properties (AGP) - which was suspended in an RNS released by AIM itself, “pending an announcement”. That was at 10.55am, and there has been not a dickie bird since from the company. I note carefully that the AIM RNS did not say “at the request of the Company”. Oo-er missus.

Geong, Geong GONE! - Another China fraud goes onto AIM casino Death Row

Published 477 days ago

Oh dear. It could not get its accounts out on tme - given that they were total fiction that would have been hard - and at 4.05 PM today, shares in Geong (GNG) were suspended as Nomad and broker Finncap quit with immediate effect. I've wanted to use the phrase Geong, geong gone! in a headline for years and now I can. If no Nomad signs up for reputational hara-kiri within a month Geong will be booted off AIM. Pro tem it goes onto the casino death row. Boy the cells there are getting crowded.

UPDATE - ShareProphets ID Parade: two companies still to report on deadline day.

Published 477 days ago

We started the week awaiting interims and FY results from 14 of the ShareProphets AIM-China Filthy Forty. Following this morning’s round of 7am RNSs we still had five of the Filthy Forty to come, and Daniel Stewart (DAN). 

ShareProphets ID Parade: companies still to report numbers on deadline day as suspension looms.

Published 477 days ago

We started the week awaiting interims and FY results from 14 of the ShareProphets AIM-China Filthy Forty. Following this morning’s round of 7am RNSs, who is still to report? And there is one other we await with considerable interest – the FY results from Daniel Stewart (DAN). Any of the companies which fails to report by the end of the day will be suspended from trading on the Casino.

Filthy Forty MoneySwap FY Results: placing ahoy!

Published 478 days ago

Another set of numbers from the 14 ShareProphets AIM-China Filthy Forty which were due to report by Wednesday of this week has been chalked up. MoneySwap plc (SWAP) reports a full year (to end Mar 2015) loss of $3.2 million. Against a market capitalisation of £11.1 million (source: ADVFN) that doesn’t look too clever. But it gets worse, because there is an audit Emphasis of matter with regard to sign-off of the company as a going concern: the company will be required to raise funds. Neon signs: placing ahoy!

ShareProphets AIM-China Filthy Forty: who will be next to join the AIM-Casino Death Row?

Published 478 days ago

As flagged up at the weekend HERE there were fourteen AIM-China stocks still to report by the deadline of tomorrow (Weds). It is now Tuesday and we have had just three so far- China New Energy (CNEL), GTS Chemical (GTS) and Asia Ceramics (ACHP). More on those to follow. But already we have had another one join Sino-Casino Death Row in the form of Camkids (CAMK) (see HERE).

Origo Partners – AIM-China Filthy Forty member restructures debt

Published 478 days ago

I flagged HERE that AIM-China Origo Partners (OPP) had a bit of a problem with some zero dividend preference debt. This has now been resolved with the announcement of a restructuring of the liability, subject to various conditions – not least of which is a GM. But still there are Interims to come by tomorrow in order to avoid suspension. Following a 60% decline in net assets as at FY14, will we be once again singing Where has all the money gone?

Geong – Audit update leaves the company hanging by a thread

Published 479 days ago

Fourteen sets of Filthy Forty numbers to come in by Wednesday to avoid suspension, but AIM-China play Geong (GNG) still, from this morning’s RNS, seems to be wrangling with its auditors over its FY numbers to the end of March this year. There is just so much to go wrong here: will a convertible debt of £1 million get rolled over for another year as hoped? Will Geong get passed as a going concern? Will it get audit sign-off? Will Geong get the numbers out? And then there are the write-offs. It looks grim. Bag of Walkers, anyone?

Filthy Forty – more fun and games to come this week as 14 reporting deadlines loom

Published 480 days ago

It was a storming week last week on the ShareProphets AIM-China Filthy Forty. But there is more to come, for Wednesday sees the end of the month and the reporting deadline for any company with a half year to the end of June, or a full year to the end of March. So what is there to look forward to?

Tom Winnifrith Bearcast 26 September: Defending Malcolm Stacey, Attacking CEB Resources & Zak

Published 481 days ago

In today's podacst I start with an apology to India from yesterday's Bearcast. Then it is on to defend Malcolm Stacey for his column today on refugees - for once the old boy is 100% correct although most folks seem to disagree. Then it is onto Zak's piss poor analysis of China frauds (HERE). Finally CEB Resources (CEB) which looks like a totally overvalued AIM Casino ramp.

Asian Citrus – FY15 results delay

Published 481 days ago

Just when we thought the whiffy week on the ShareProphets AIM-China Filthy Forty had served up the final course of the abominable banquet, up popped Asian Citrus Holdings Ltd (ACHL) with the petits fours. Its final results for the year to June 2015 – due to have been released yesterday – have been delayed. Uh oh….

Please sue me for libel: Jiasen International is an AIM listed fraud from China – interims today

Published 482 days ago

The Bulletin Board Morons want Jiasen (JSI) to sue me for libel. Well let’s make this easy for the Fujian fraudsters. “Jiasen is a fraud and its criminal directors have produced bogus numbers today – its shares are worth 0p.” There is no ambiguity there. Sue me for libel. What is the Chinese for “See you in Court bitchez?”

Haike Chemical – another AIM-China Filthy Forty member releases Interims

Published 482 days ago

The ShareProphets AIM-China Filthy Forty is having an amazing week. We’ve had all manner of nonsense, from AIM failing to boot off Global Market Group (GMC) after being without a Nomad for a month until three days late, Geong (GNG) shares collapsing after a (derisory) take-over fell apart, a fantasy world presented by Vmoto (VMT) as it sold off a division on a PE of about 1 to the same people it bought it from and joke interims from JQW (cash pile mounting but dividend binned) and this morning Jiasen (cash pile mounting, dividend chopped by two thirds). And we have also had interims from Haike Chemical (HAIK). 

Bulletin Board Morons & Peasants of the day – ADVFN Jiasen thread

Published 482 days ago

I never cease to wonder at the stupidity of some of the Bulletin Board Morons. Today’s interims from AIM Casino China fraud Jiasen (JSI) are dreadful – an abandonment of dividend policy despite the company claiming to be drowning in cash, a warning of how it will explain away that imaginary cash. Shares in this company have slumped in less than two years from an IPO price of 82p to 7.25p (up 1.25p today).  Yet the morons celebrate. 

George Osborne, what planet are you on? Ref AIM China FRAUD

Published 482 days ago

This week George Osborne was merrily tweeting away that he was Delighted we have agreed with China to look into benefits of connecting UK and China stock markets. He’s clearly had a whale of a time in China, but I fancy he’s got no idea of the dangers of what he’s doing. With the ShareProphets AIM-China Filthy Forty turning up scandal after scandal, what on earth does he think he is doing?

Global Market Group: finally the undead corpse is put out of its misery

Published 483 days ago

Finally at 5.34pm tonight came the announcement that a wooden stake had been driven through the heart of the undead corpse that was AIM-China play Global Market Group (GMC). Having been without a Nomad for a month and two days, AIM Rules demanded that the shares be cancelled from trading after a month. So I guess the formal announcement that Global Market is off the Casino is only two days late. That’ll be the tenth delisting from the ShareProphets AIM-China Filthy Forty.

JQW – Interims invite belief in the tooth fairy

Published 484 days ago

As George Osborne tweets lyrical about being the first UK minister ever to visit the key staging post at the end of China’s Silk Road, Urumqi, JQW has truly tried to make a silk purse from a sow’s ear. If you believe in the tooth fairy then you should buy the shares with all your might. Indeed, you should go down to the world’s local bank (HSBC) and get a mega-loan and buy the entire company for it is trading on a market capitalisation of £11.1 million (source: ADVFN) and yet has a cash pile of £46 million. Heck: shut down the business (except the Chinese authorities have already done that, for a month) and walk away with £35 million profit?

Vmoto shares back trading – its avin a bubble if it thinks we’’ll buy this shite

Published 484 days ago

Shares in Vmoto (VMT) are back from suspension on the AIM Casino and ASX after it published a statement which only the thickest of morons and China Norfolk addicts will believe. It is talking shite. The shares are off 18% at 13.5p but the valuation of £20 million is just a rum n coke. Sell.

AIM-China Global Market Group: where’s the Aim Cancellation Notice? Day 2

Published 484 days ago

We’ve already highlighted this HERE and dropped a line to our good friends at AIM regulation HERE but still nothing. AIM-listed China play Global Market Group (GMC) announced back on 21 August that its Nomad had quit with immediate effect. Under AIM Rules that means instant suspension, but also that if no new Nomad is appointed within one month then the shares will be delisted. It is now 23 September and no new Nomad has been appointed so as we understand AIM Rules there should have been a formal AIM Cancellation notice yesterday. There was none forthcoming.

Why Global Market Group has not yet been formally booted off AIM – a cynic writes

Published 485 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…..

JQW supposedly suspends operations (or not): another kill pending for the Filthy Forty?

Published 486 days ago

It is London Buses time once again here on ShareProphets.com. A quiet few days on the AIM-China Filthy Forty and then all of a sudden three dreadful RNSs all come at once. Nine Filthy Forty members have already departed stage left. Three more are on death row following Nomad resignations – China Chaintek (CTEK), ARC Capital (ARC) and Global Market Group (GMC) which receives its last rites today. And now today two further China plays announced dire news, JQW (JQW) and Vmoto (VMT) as well as a potential bidder walking out on Geong (GNG) in the wake of a few issues with revenue recognition. No doubt the auditors there (UHY Hacker Young) will be shown to have acted with all due care.

Global Markets Group is on the AIM casino Death Row – it is now time for its last meal, execution is tonight

Published 486 days ago

Of the Filthy 40 China stocks listed on AIM on June 1 2014 or listed since, ten have already been booted off the Casino while shares in four are suspended. Of those three are suspended as the Nomad has quit. They sit on Death Row and the first execution, expulsion from AIM, is scheduled for tonight.

Vmoto – another China AIM car crash underway? Or should that be scooter crash?

Published 486 days ago

Oh dear. It is another dismal day for those invested in the Filthy Forty China Aim stocks with shares in Vmoto (VMT) suspended on the casino after a most bizarre statement. Let’s look at the timeline of what has – to date – been one of the star performing China AIM plays one of only three showing gains since IPO. Make that two now.

The Chinese Appetite for British Medical Science Will Benefit Feedback Fans.

Published 488 days ago

Feedback (FDBK) is a company going places. And it’s just gone to another one. This is a compact firm, mostly owned by family and friends, with only a small proportion of ordinary share-shifters like us.

Fancy a Big Divi and a Future El Dorado. Have a Butcher’s at City of London Investment Group.

Published 489 days ago

Hello Share Thrashers. I know a few of you did your research after I brought the City of London Investment Group (CLIG) to your notice. And I know one or two of you dipped your toes in the water.

Reader Poll - how many China Fraud Filthy Forty shares will be Dead by December 31 2015?

Published 495 days ago

Last month we launched the ShareProphets Filthy Forty – companies with their main operations in China, registered overseas (apart from a handful in Hong Kong) and listed on AIM on June 1 2014. We noted that the overall performance was astounding: average loss from IPO was 43%, and nine had already been booted off the exchange. An attrition rate of 22.5%. The reasons varied between Nomad resignations (5), being booted off for failing to publish accounts (2) and voluntary delistings (2).

Daily Telegraph’s top 10 Aim stocks to buy – its ‘avin’ a bubble!

Published 495 days ago

The Daily Telegraph has a cunning wheeze for its readers to avoid Inheritance Tax – buy AIM stocks. In fact this is a double wheeze. Not only are these IHT free assets but the Torygraph has selected a top 10 which seems guaranteed to smash the value of your estate. It is ‘avin’ a bubble with its top 10 dogs, oops I meant AIM Casino shares to buy. 

Tom Winnifrith Bearcast 9/11 - Looking back & forward & a rip roaring day on AIM

Published 496 days ago

It is 9/11 and I look back 14 years. I also reflect on the Orwellian way we all viewed Syria earlier this week. Looking forward, we have sold 90% of the restaurant in Clerkenwell to the pizza hardman Darren Atwater. we end up slightly ahead on the deal but I have had enough of running businesses and blame my own old age and the Tories for that. This is the start of my wind-down. On AIM its a cracking day with another China fraud kill, China Chaintek (CTEK) and more fun and games at Mosman Oil & Gas (MSMN), Redhall (RHL), Monitise (MONI), Sefton Resources (SER, Cloudbuy (CBUY) and Golden Saint Resources (GSR). And I am getting into bed with Rob Proctor of Audioboom (BOOM). Not literally but...well I explain in full. in the podcast.

Update: China Chaintek - Nomad has quit - shares now suspended

Published 496 days ago

UPDATED: Oh dear, it looks as if another China AIM stock is set to lose its AIM casino listing. AIM regulation has just now suspended trading in shares in China Chaintek (CTEK). Market sources say that Big Ray Zimmerman of ZAI Corporate Finance had enough and quit as Nomad to the Norfolk China Chaintek (CTEK) with immediate effect. The company has made no statement.

Red Flags at Night – Univision Engineering Limited (awful) Final Results

Published 496 days ago

AIM-listed Univision Engineering Limited (UVEL) issued its full year results for the year to the end of Mar 2015 at no-one-is-watching o’clock, 5.33pm last night. That is enough of a Red Flag already, but given the recent focus of this website on AIM-China set-ups, I see that this company is registered in Hong Kong. Oh dear….

AIM-China Filthy40 member Aquatic Foods Interims fail to reassure

Published 497 days ago

One of the problems that AIM-listed China stocks have at the moment is that nobody believes them. Nobody believes the claimed cash-piles or profits. This is amply demonstrated by the stock-market histoire of Aquatic Foods (AFG), a member of the ShareProphets AIM-China Filthy Forty. To remind you, it listed in just February of this year at 70p per share, to give it a market capitalisation of £79.3 million. Yet the shares fell steadily to the current 29p. Today saw Interims to the end of June 2015. Scratch the surface, and the Red Flags are all too apparent.

Great News from the States, Gang. - So Why Is It Crushing Our Shares?

Published 500 days ago

Hello Share Pushers. As the old shares lose more and more value, the reasons given for the slide back become ever more bizarre.

We Should Always Keep 20% in Cold Cash - Except Perhaps Now.

Published 502 days ago

Hello Share Trundlers. The great Warren Buffet said that it doesn’t matter if shares fall. As long as we don’t need money straight away.

Rio Tinto and BHP Billiton – interesting director share purchases

Published 506 days ago

Over the weekend, I identified BHP Billiton (BLT) and Rio Tinto (RIO) as two of the top dividend payers in the FTSE100. Based on Friday’s close BHP’s yield was 7.28% and Rio’s 6.19%. Following on from analysis last week about the fundamental reasons for buying BHP (HERE and HERE), this morning both companies announced director purchases. Taken in isolation these purchases might not seem like much to write home about, but in the context of investment planets aligning they could be significant.

You’ve All Heard About Jonah and the Whale. But I Don’t Think our Share Values will be Swallowed Up.

Published 506 days ago

Hello Share Shruggers. There’s a been a lot of talk in the Big City, including on this astounding site, about the Stock Market facing utter disaster. China, the Middle East threat, forthcoming Europe referendum, Greece, high-price-to-earnings ratios, many Footsie firms battling against year lows and so on and so forth.

Gate Ventures forth to Infinity

Published 508 days ago

Following previous comments (HERE) wondering who was running the show for the ex-AIM Casino entity that is Gate Ventures plc (GATE) things have become a little clearer. And a little murkier too. Gate has continued to release news through the RNS system, almost as if oblivious to the fact that it is no longer on the London Stock Exchange’s junior market. Some might see this as a good thing as its shareholders can still find out what is going on, albeit through a series of RNS Reach (ie non-regulatory) missives. The less charitable view might be that potential investors are given the impression that Gate still retains a proper listing. Whatever.

Tom Winnifrith BearCast 28 August - it was like Monopoly

Published 510 days ago

I arrived back in Bristol after a long journey yesterday and opening my post it was just like Monopoly (in a good way). To celebrate I look at the markets in general, comment on Scancell, predict a few no-one is watching O'Clock announcements tonight and then focus on Camkids but epecially JQW which sent out a big China fraud Red Flag today.

ShareProphets Filthy Forty: Asia Ceramics and its bizarre lending arrangements with the boss

Published 510 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.

Camkids: we knew the balance sheet was a fraud now here is why the reported profits are also bogus

Published 510 days ago

AIM listed China fraud Camkids (CAMK) effectively admitted that its stated cash was not really there with its ludicrous explanation of how it was set to disappear (HERE) but now let me show you why its reported profits are also 100% made up.

Why the Most Obvious Trading Lesson of All is Always Totally Ignored.

Published 510 days ago

Hello Share Smashers. Uncle Tom has already alluded to my lesson for today. And that is that we should buy when the market has been weakened by topical events. Yes, I know the advice is pretty self-evident. So why does everyone do the opposite?

Is the BHP Billiton 7.9% dividend too good to be true?

Published 511 days ago

On Tuesday, Chris Bailey offered some excellent analysis of BHP Billiton’s (BLT) results. I won’t attempt to steal Chris’ thunder, but one point he made has stuck with me. In its own words BHP Billiton’s board is “resolute” to pay what is now a 7.9% dividend. This is an enormous yield for such a large stock and if the directors follow through with this pledge, the current £10.55p share price is surely a gimme. The question is will the company pay this generous sum?

ShareProphets Filthy Forty – Global Market Group heads for AIM ejection as Nomad Grant Thornton resigns with immediate effect

Published 511 days ago

AIM-China poster-boy Global Market Group (GMC) looks set to become the next member of the ShareProphets Filthy Forty to be given the order of the boot, unless it can find itself a new Nomad by 21 September 2015. This Cayman Islands registered company joined AIM in June 2012 at £1.30 a share, when it raised £9.7 million through a Placing, to join the Casino with a market capitalisation of around £127 million. The shares fell almost immediately to just over 80p. They are now suspended at 50p – following the payment of a deposit in connection with a land acquisition as announced on 10 Aug 2015 - as the lobster-potted shareholders wonder whether the company will ever resume trading.

ShareProphets Filthy Forty: Geong for a song (and what about AIM Rule 26?)

Published 511 days ago

Out of the AIM-China companies we have identified as the ShareProphets Filthy Forty, ten have already left the Casino. The rest are starting to form an orderly queue, with three more exits on the way. Two are the result of Nomad resignations, but Jersey-registered Geong International Limited (GNG) seems to have opted for the derisory take-over offer method. Having listed all the way back in June 2006 at 30p a share, and never having paid a dividend, Geong announced on Monday that it was in talks regarding an all-cash 5p a share offer.

ShareProphets Filthy Forty – ARC Capital heads for the exit as Nomad Grant Thornton throws in the towel, but why?

Published 511 days ago

Forty AIM-China companies: ten down, three more in the queue to leave by the back door. This time we bring you Cayman Islands registered investment company, ARC Capital Holdings Limited (ARCH), which announced on 14 August that its Nomad, Grant Thornton, had given notice of its intention to step down on 15 September 2015. If no replacement is found by 15 October then shares in ARC will be booted off the Casino.

Optimal Payments ... a gamble in China? A sure fire short bet

Published 511 days ago

Matt Earl, the Dark Destroyer, posted this on hs own website two weeks ago. It is a compelling reason to short Optimal Payments (OPAY). It is not historic numbers but future earnings you should focus on. Matt writes: Pursuant to the latest crackdown (see below) by Chinese authorities on online gambling, I've sold short in OPAY the online and mobile payments processor

Trouble in Old China, Yes - But What Has that to Do with Barnsley?

Published 511 days ago

I want to draw your attention to the absurd affect that the trouble in China is having on British shares. One of the biggest fallers has been ITV (ITV). This company makes it money by advertising British companies, like Tesco (TSCO), Sainsbury (SBRY), WM Morrison (WMR) and loads of other very familiar products in the UK.

Why the China Syndrome Might Actually Be Good for Our Shares.

Published 512 days ago

Let’s have another look at China. I was talking at length the other day with an economist from Shanghai. It was not a vital meeting between high power financiers, like myself, and a top moneyman from the Communist party.

Have a Fire Sale If You Want To. But Not This Old Punter. No, Indeed!

Published 513 days ago

Hello Gaag… Well, there’s always something to worry about, isn’t there? It used to be sub-prime mortgages, followed by crumbling UK banks. Then it was Italy, Ireland, Spain and Portugal. Then, when we thought it had all gone quiet, it seems that Greece was still in a mess. It threatened to pull European shares down - but compromise was worked out and nothing happened.

China just joined the currency war - that kills a rate rise

Published 515 days ago

Did China just join the currency war? What will the world look like in 6 months? Well-known gold commentator Bill Holter questions what will even be left…

Don’t Let the Summer Lull Get You Down. It’s the Dozy Season.

Published 517 days ago

Hello Share Smashers. My babies are going through a bad patch at the mo. Am I worried? Should you be worried? The answer is: No.

The 26th best performing AIM China stock – down just 96% - what a farce

Published 522 days ago

The more I look at the collection of investment train wrecks and outright frauds that are the China filthy forty the more I am horrified. Let’s look at the 26th best performer out of the 40, it has only lost 96% since IPO on the AIM Casino. I refer to Northwest Investment Group Ltd (NWIG), a special from Big Ray Zimmerman of ZAI Corporate Finance.

ShareProphets Filthy Forty – Which national regulator has the most egg on its face re China frauds

Published 522 days ago

The ShareProphets China-AIM Filthy Forty reveals the most shocking statistics of losses for investors, demonstrable frauds and companies being booted off the Casino – see HERE. But which country of incorporation lost investors the most money? Which national regulator has the most egg on its face? Our table has thrown up some surprising statistics. 

Camkids, China Chaintek and the joke that is AIM

Published 522 days ago

It seems like ages ago that the then Chairman of the London Stock Exchange, Mr Gibson Smith stared at me disdainfully at the police-state plenum-style AGM and in answer to my question as to whether having AIM was really worth the sweat, given its minimal contribution to Group profits compared to the colossal reputational damage it was wreaking, trotted out some feeble rehearsed platitudes about the importance of the AIM market, the quality of the Nomads, and lack of wholesale fraud in the AIM listed China-based community.

The China AIM Casino Filthy Forty is launched – be shocked

Published 523 days ago

We today launch the China AIM Casino Filthy 40 – a way of tracking what a fraud ridden mini cesspit this is. The findings and the tables below will truly shock you and shows what fantasists the idiots running the London Stock Exchange are.

Is the fair Isle of Jersey the preferred route for China Norfolks to get onto AIM?

Published 523 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? 

Results of China fraud Caption Contest and a new one in honour of useless LSE boss Xavier Rolet

Published 524 days ago

Thanks for all the entries to the China fraud caption contest of yesterday. That was such fun we have a new contest (deadline for entries midnight Saturday) in honour of the useless tosser Xavier Rolet, the garlic munching imbecile in charge of the London Stock Exchange.

The FRC pans Crowe Clark Whitehill ( audit pal of choice for the China AIM fraudster) in its latest review

Published 524 days ago

Crowe Clark Whitehill is the UK auditor of a number on AIM casino china frauds and its associate in Fujian, Crowe Horwarth Associates really gets fingers dirty. We know that the blatant long term fraud at Sorbic (booted off the casino), Naibu (booted off the casino) and Camkids (soon to be booted off the casino) as well as at Jiasen and JQW totally escaped its attention. In light of that we bring you the latest Financial Reporting Council review of Crowe.

The Remarkable Transformation of ex AIM casino Norfolk Tinci… you could not make this up

Published 524 days ago

Tinci listed on the AIM casino back in 2006 raising £2.1 million at 70p. It delisted with the shares at 4.375p on January 2015. Now you see it, now you see new it. This is quite amazing.

A 60% fraud rate for Crowe Horwath Associates on the AIM casino – Enquiry & suspensions needed now!

Published 526 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.

The Camkids FRAUD – An Open Letter to Allenby Capital and AIM Regulation – suspend the shares NOW!

Published 527 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: 

Breaking: Camkids – If it looks like a duck, and walks like a duck……

Published 527 days ago

Something just does not add up with AIM listed (pro tem) Camkids (CAMK). Tom Winnifrith and Steve Moore have already considered the credibility of yesterday’s RNS HERE and pronounced Camkids, from Fujian Province in China as a prime candidate to join the club from the Norfolk province of AIM. We’ve been looking at it from a different angle: the annual report and accounts. What we find is shocking. 

FRAUD: Camkids – an old dog with new tricks to explain how nearly ‘All the Money’s Gone’

Published 528 days ago

Former ‘Investors Chronicle’ favourite AIM casino China fraud Camkids Group (CAMK) has released a more than 600 word RNS, which can be almost summed up by a 1999 song from Wolverhampton band Babylon Zoo; ‘All the Money’s Gone’… The shares are crashing and if Nomad Allenby had any integrity it would quit. This is a total Rum n'Coke.

Shares, Interest Rates and the Hellish Sea of Doom.

Published 531 days ago

Hello Share Pickers. As far as my routine share trading goes at the mo, I am feeling all at sea. The Wide Sargasso Sea, actually.

Rangers Coming back to the stockmarket, er sort of it's ISDX – Good News

Published 538 days ago

We had rather missed the comedy show that was Rangers FC (RFC ) as a listed company since it was booted off the AIM Casino on April 2nd 2015. But the club has now taken a step to regaining a listing on ISDX, the market formerly known as Plus. Good news for comedy fans everywhere. Rangers listed and the trial of Craig Whyte of Rangers and Worthington infamy, an autumn of hilarity awaits.

Tom Winnifrith BearCast 31 July in honour of disgraced PR man Tim Thompson

Published 538 days ago

In today's podcast I look at Coms in detail and then at Rightster en passant whose PR man is the disgraced dirty tricks specialist Tim Thompson of Range Resources infamy and where there is a detailed piece to come later,  before having a butchers at the ludicrous joke that is LightwaveRF. I refer to my Jiasen piece earlier and have a warning for other China Norfolks. In that vein I also mention the POS Daniel Stewart. Then en passant Mosman Oil & Gas and flip flop's Red Rock share tip.

Visit to Jiasen International June 2015 - Red Flags Ahoy, when's the delisting?

Published 538 days ago

A man known to me has recently been to China to see Jiasen (JSI). I was a bear before, having read this I am even more of a bear. Too many things just do not stack up. There clearly is a Jiasen business. But it is just nothing like what is claimed by the listed company. On the basis of this on the ground reporting by a fellow who understands industrial processes I state that beyond doubt I do not believe that its stated profits, sales and net assets are real.

Can Bombed out Sable Mining benefit from the recent bounce in iron ore

Published 538 days ago

A recent 6% bounce in iron ore prices at the Chinese port of Tianjin to $53.3 a tonne may or may not prove to be the harbinger of a significant rally in the metal’s depressed price after falling from $110 a tonne last summer to a recent low of $44.10c. But it might bring some comfort to bombed-out Sable Mining Africa (SBLM), which has announced sine encouraging metallurgical test results from its key Nimba iron ore project in the West African state of Guinea.

That Sassy Selfie Set-Up Still Presents a Perky Picture.

Published 539 days ago

Hello Share  Swappers. There is a stagnant feel to the markets this happy July. Nothing seems to be moving very much, held back by the traders' summer hols, China and, to a lessening extent, Greece. But there are always some bunnies which are still running north. And if a share is sailing ahead, even in these stormy days, then it must have a lot going for it. One such perky stock is Photome (PHTM) the company which runs those little boxes that take selfies in railway and bus stations etc.

Tom Winnifrith Bearcast 29 July - LGO Energy, letting rip again

Published 540 days ago

A few comments on "that article" and why I nearly quit this website today. But lets talk companies and markets. Specifically today's statement from LGO Energy (LGO) which I contrasts with that of January 6 2015 and ask questions of the company and of David Lenigas. Asa long time bear,I regard LGO as a slam dunk sell and am not tempted by Lenigas Cuba either. Then onto China and AIM, following a call from an AIM Chairman yesterday urging me to stop beng so nasty about the Casino in case it gets closed down. Yes...bring it on!

Enjoy the Soap Opera - But Don’t Let It Stop You Trading.

Published 541 days ago

Hello Share Jugglers. Hard though it is, chums, to keep up with the flood of sensational stories on this glorious website, one must still try to convince you that buying shares is still a pretty good way of making money for doing very little.

Don’t Let a Boring Footsie Make You Leap into Murky Waters.

Published 542 days ago

Hello Share Swogglers. When the markets are racked by uncertainty, the big shares fall. This is nothing to do with their performance. It is everything to do with a nervousness, which pervades all. We all know that the markets hate uncertainty.

China New Energy – another Norfolk on AIM, or just a POS?

Published 543 days ago

AIM-listed China Companies with characteristic Red Flags seem to be coming thick and fast as featured articles here on ShareProphets. Tom Winnifrith was on record some time ago saying that any Chinese company listed on AIM was an automatic bargepole, and with good reason. We’ve had Naibu (NBU) and Sorbic International (SORB) already given their marching orders by AIM, after spending over month looking for a new Nomad. Indeed, with Naibu’s CEO jailed and evidence that the cash it claimed to have was all fiction, and Sorbic’s rather more straightforward situation that the CEO ran off with the cash and the assets (and the Chinese authorities seem reluctant to intervene) it is hard to avoid the conclusion that these were just plain, abject frauds from top to bottom. 

Aquatic Foods Group plc – yet ANOTHER AIM-listed China Norfolk?

Published 547 days ago

On Monday AIM-listed Aquatic Foods Group plc (AFG), a Jersey-based holding company with its main assets in Shandong Province in China, held its AGM. Ahead of that gathering it was announced that Mr John McLean (hitherto the Deputy Chairman and Senior non-Exec) had withdrawn his candidacy for re-election to the board. Red Flag? Read on (especially if your name is Xavier Rolet, CEO of the LSE).

Gate Ventures – will a big deal 24 hours before being shown AIM’s exit gate make the Grade?

Published 548 days ago

What to make of Gate Ventures (GATE)? We have seen all manner of shocking stuff on ShareProphets regarding this enterprise (see HERE for a full dossier). And today, 24 hours before the company is due to be booted off the AIM Casino after its Nomad, the saintly Beaumont Cornish, found representing this company all too much. Gate, of course, protested that it was talking to potential replacements but I rather doubt we will see it restored to trading in the morning, rather than being given the order of the boot. But what do we have HERE? An investment of £2.6m into a UK company called Infinity Creative Media Limited which is chaired, we are told, by Lord Michael Grade, no less. Is it true?

Vmoto - Another Chinese Company on the AIM Casino: Should We Worry?

Published 548 days ago

Vmoto (VMT), is a manufacturing and distribution group specialising in high quality "green" electric powered scooters which was brought to AIM on 9th November 2012, by finnCap (Company Nominated Adviser and Broker). After raising £1.6 million by selling 121,075,002 new ordinary shares at 1.3p pence.

How to Invest in Wafers which Are Now’t to Do with Ice Cream.

Published 548 days ago

Hello Share Smashers.  There’s a techno firm I rather like. In some ways it’s a smaller version of Arm (arm) whose gizmos turn up in most mobile phones and other computery stuff. The name is IQE (IQE). It makes wafers for computers, but too my shame I’m not sure what wafers are. Except the ice cream kind.

Now Do You Fancy a Punt on the Chinese Market?

Published 549 days ago

Hello Share Snappers. You may remember that, in the film China Syndrome, with Jack Lemmon, a nuclear power plant in America starts to disappear into the earth. There is a fear that it will get a long way down, hence the title.

Tom Winnifrith BearCast 18 July - Fraud, funding and missing Lords

Published 551 days ago

My MCC card is in my pocket but I am, again, missing the Lords test on a glorious Saturday. One year... I then take this podcast to the China AIM frauds. By next Wednesday 4 will have been booted off the casino so far this year, I refer you to a superb piece out earlier today HERE. I chatted late at night last week to an emerging markets fund manager and thus offer up more thoughts on these frauds. Then it is onto how the 900 companies on AIM that need funding will get it and in this section I look again at valiRx.

Global Lock & Safety: Yet Another China Fraud on AIM?

Published 551 days ago

Global Lock and Safety (GLOK) was incorporated in the British Virgin Islands in December 2009 and listed 250 million shares on AIM on 21st October 2010, with Allenby Capital Limited as the nominated adviser and broker. The future looked bright with the then CEO claiming, "We are already one of the leading security providers in China and we know of no other providers of this type of comprehensive integrated security service in the Peoples Republic of China.”

Tom Winnifrith BearCast - On an amazing high and its not coke - honest!

Published 553 days ago

I am on such a high. But there is no coke involved. Or hookers. Heck I'm not a crony capitalist just a capitalist and I've had a cracking day so far as I explain. Then to Greece and China and why China matters and why the Chinese Canute's won't win. And then onto LGO Energy.

Two Golden Rules for Hard Times - and a Bonus Tip for Luck.

Published 556 days ago

Hello Share Sweepers. As we’re all still feeling pretty nervous about our shares, I would not advocate doing much trading at the moment. The Chinese stock market and the Greek tragedy are both taking their toll on our confidence. So it seems to me we now have a good opportunity to drive home two glittering lessons which are especially useful in difficult times like these.

Tom Winnifrith BearCast & Photo 11 July – Greece: Socrates now, sadness and can kicking

Published 558 days ago

Last night there was no riot. Greece is capitulating but Europe is pretending that all is well. There will be another can kick on Sunday dressed up as a solution and thus no Grexit. Alex Tsipras has – as the Communists and I predicted – sold out his people but if Europe thinks it has resolved the Greek issues it is kidding itself as I explain.  

Gold; a counter-intuitive leveraged buying opportunity

Published 559 days ago

The price action in gold this week has been most counter-intuitive. As Chinese markets go into meltdown and Greece does its best to get kicked out of the eurozone, the last thing many would have expected would have been for the precious metal to fall in value. The uncertainty in the market is palpable. Equities have been extremely volatile, the VIX has shot up to 19.97 and pressure is clearly growing on global bond prices. But gold has remained immune to the growing panic; that is so far, at least.

A House, a Dragon, China, Greece and the Sage of Omaha.

Published 559 days ago

Hello Share Swingers. One of the earliest saying of Warren Buffet, the world’s second richest man who did it all with shares, was this. It doesn’t matter if the stock markets are falling - as long as you don’t want the money in a hurry.

FTSE 100 bounce could extend in the short term

Published 560 days ago

The stock market is struggling to move up, global stocks are pressurised by the decline in the Chinese stock market. Chinese stocks bounced today after the local regulator banned shareholders with large stakes from selling. There were further attempts by the PBOC to stimulate the market but over 1330 Chinese companies had to halt trading. I am not sure this is the solution, if you know you may be next to be banned from selling you probably want to sell now to get out before it’s too late. This could accelerate the sell off instead of stopping it.

Tom Winnifrith Bearcast 8 July - UK Budget: George Osborne is a twat

Published 560 days ago

This has been delayed by certain IT issues here in the Hellenic Republic. I start the podcast on Greece then onto China and finally to chancellor George Osborne and his budget - the guy is a prize twat. At a company level I look at Azonto Petroleum, Monitise ( TSOA wins again!), Red Rock Resources and the fraud Jiasen.

Tom Winnifrith BearCast 7th July - Page 3 bird photo

Published 562 days ago

As an experiment I tried to upload this direct, rather than via Pizza Hardman Darren Atwater, but could not work out how to upload my photo so had to use an alternative. In today's podcast I look at Greece, China (the real story of the day), Sefton, Fitbug, Phorm, Stratmin Global and fat cats. Real fat cats like Oakley not fat cats like Sir Martin Sorrell.

Tom Winnifrith Bearcast - 6 July: bombast battle

Published 563 days ago

In today's podcast i start with Greece and also my father, a Nai supporter, blaming the poor Greeks for his expensive pint in Ireland. I shall explain the economics of the euro to the old deluded lefty next week. Then onto Avanti Communications, CIC Gold, China, Velocys, Litebulb and Europea Oil & Gas.

Tom Winnifrith Bearcast - 5 July: Greece, China, Quindell & house prices

Published 564 days ago

Polls close here in Athens in just over three hours. I shall shortly head off to my local polling station to have a final butchers and then to Syntagma Square to sit underneath the Greek parliament as the results come in. I shall blog away here on ShareProphets as Greece decides whether it is Oxi or nai. Pro tem this podcast covers Greece, China, Quindell and UK House prices.

Tom Winnifrith Bearcast - 4th July, Independence is on my mind

Published 565 days ago

Happy Independence day to our American listeners. My prayers are that tomorrow Greece votes for freedom and votes Oxi! But will it? And what does that mean for the Euro and shares. I note Goldman Sachs claims that a Nai vote will see global equities rise by 10%. Hmmm, I think it misses the bear in the China shop. A few thoughts brought to you from Athens in today's podcast.

Why the London Stock Exchange is actively recruiting more China Norfolks for AIM

Published 566 days ago

The growing scandal of blatant China frauds on AIM continues. What have the authorities done about it? Certainly, nothing to reassure. As I shall discuss, the London Stock Exchange is playing with fire.

Tom Winnifrith BearCast 1 July - LightwaveRF Red Flag

Published 568 days ago

I forgot to mention convicted felon Champagne Charlie Gibson in the podcast. Silly me. But in case you have forgotten why he is a felon go HERE and why I am going to keep mentioning it go HERE. In the actual Bearcast I look at Sirius Minerals and Monitise and then have breaking news on the unlikely hero of the day China fraud specialist Mr Paul Shackleton and bad news for investors in Gate Ventures. Then it is onto Daniel Stewart with a bad Winston Churchill parody. Then onto Speedy Hire, Lightwaverf, Independent Oil & Gas and Phorm where the chickens are coming home to roost, at last.

Tom Winnifrith Regular Bearcast 30 June - Geong Geong Gone!

Published 569 days ago

In today's regular podcast I decide that I am not yet bored of niggling the felon Charlie Gibson so remind you again of his naughty antics (HERE) - his colleague really should not have been such a beastly apologist for crime last night (HERE). Then onto business. China is more of an issue than Greece. Then there are the China frauds and I predict bad things for Gate, Geong and Jiasen and call on Gate to fess up to is real Nomad position. Then onto William Sinclair, Torotrak and Motive TV. And I also discuss why I am not quite so mega bearish as you might think.

Tom Winnifrith BearCast - 29th June

Published 570 days ago

Oh happy days, oh happy days. Firstly my daughter turns 14 today. Born at just 1lb 4 oz she was a miracle baby and has turnd into a cracking young lady. Secondly the Slater & Gordon/Quindell mess gets messier by the day. Lube up Rob Terry, B Wing awaits. And then I move onto Greece and China to equity market valuations and then on to Progility, HSS Hire and Lamprell.

Tom Winnifrith Bearcast 27 June - Greece, China and bubbles

Published 571 days ago

In today's podcast I look at events in Greece and China and the nature of asset bubbles. I will deal with ISIS in my weekly postcard on TomWinnifrith.com later.

Reader Poll – Monday a good day to bury bad news – how many profits warnings?

Published 571 days ago

It is all kicking off. Greece & Grexit, The Chinese stockmarket bubble bursting, ISIS on the rampage. The eyes of the world will not be on London listed companies. It is to quote that Labour spin doctor on the day of 9/11 “a good day to bury bad news”. What better day to sneak out a profits warning or a deeply discounted placing to your mates, the City spivs?

Gate Ventures - Nomad "fatty Cornish" quits - shares suspended

Published 576 days ago

At last the spineless crony capitalist pig Roland "fatty" Cornish of New World Oil & Gas infamy, has quit as Nomad to China fraud Gate Ventures (GATE) and hence the shares have been suspended at once. The shares were listed in March and via fees and from exercising warrants and flogging shares - even though the prospectus said he could not exercise for a year - fatty has trousered c£400,000 but now even this greedy pig, devoid of principle has had enough.

SP Angel Morning Mining Note - a macroeconomic edition‏ - metals barely react to Greek Crisis and Chinese slowdown

Published 580 days ago

John Meyer of SP Angel this morning comments on the lack of reaction in international metal markets to the growing Greek crisis and increasing evidence of a slowdown in China, as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond. 

Auhua - what a bunch of cocksuckers - crony capitalists foiled by The Sheriff of AIM

Published 583 days ago

Earlier today I revealed in yet another scoop that POS China AIM listed company Auhua (ACE) was planning a placing at just 4p when its shares were trading at 13-15p. The discount told you everything. Broker WH Ireland knows this is just a shite investment and the only folks who will support it are flippers. And now Auhua has fessed up - the Sheriff was right. Yet again. Auhua states:

Tom Winnifrith Bearcast 16 June - homage to Chris Bailey

Published 583 days ago

Chris Bailey of Financial Orbit is on my mind for three reasons and I explain why. One of them is APR Energy which I discuss and Chris will post on later. I also look at two China POS stocks, the fraud Sorbic and Auhua Clean Energy. Then at Thor Mining, Trap Oil and Mosman Oil & Gas. Then it is onto the boiler room stocks: Inspirit, Sabien and Flowgroup. Warning: this podcast contains both bad language and also a lot of racist generalisations about folks from Australia and New Zealand with the exception of Kylie Minogue (pictured) who can, of course, do no wrong.

Camkids AGM Q&A - the killer admission

Published 587 days ago

AIM casino listed China fraud Camkids (CAMK) has helpfully published an English language transcript of a Q&A from its AGM yesterday. There are moments of sheer comedy but also a killer admission which should tell you this is heading for 0p.

Honkers Bonkers Shouldn't Have Fallen - So It’s a Buying Opportunity If Ever I saw One.

Published 588 days ago

Hello Share Swingers. I recently tipped Honkers Bonkers (HSBA) on this delectable website. Since then the share price hasn’t moved much.

Bulletin Board or Twitter Moron of the week #22 - in honour of Camkids

Published 592 days ago

Camkids is capitalised at £12.5 million. It claims to have increased its cash pile by £9 million to £40 million last year and to be profitable and generating cash. Yet it cannot afford a £1 milluion dividend. Sound a bit Naibu-esque? Oddly it is from the same China province (Fuijian) and is engaged in the same business, fraud. Ooops we meant making shoes. And there are still folks who think its shares are cheap. In their honour we bring you this week's Bulletin Board moron contest.

Red Flags at Night, Fri 5 June: pointless POS China Sports Development on ISDX (for now)

Published 592 days ago

As ever, important company announcements being slipped out at no-one-is-watching o’clock on a Friday evening is a bit of a Red Flag. One immediately wonders what it is trying to hide. And so we turn to what must be the most pointless listed company in London: ISDX-listed China Sports Development (CSDP). I doubt anyone reading will own shares, but read on anyway – it is a hoot!

Tom Winnifrith BearCast 30th May - Investor Insanity

Published 600 days ago

In this podcast I try to explain how 2+2 does not equal 22 when it comes to injecting assets into shells and yes my case study is Sefton. I then turn to the China stockmarket bubble trying to show how mad things have become and what will happen when it ends in tears. As it will.

Tom Winnifrith BearCast - Naibu I now have the smoking gun

Published 606 days ago

I have some frigana to poison, some snakes to encounter and after that swimming and a late lunch with the Mrs at Kitries which is a small seaside town in the Mani that I would recommend to anyone. After that or perhaps tomorrow I shall publish the smoking gun on Naibu (NBU) demonstrating that its claim to have lots of cash and no debt was a slam dunk lie from the IPO onwards. This was a fraud and it was one that its Nomad (Daniel Cesspit), accountant (Clark Whitehill) and lawyers (Pinsent Masons) should have and could have spotted. So who should get sanctioned and what should the LSE do about other China Norfolks on AIM now? Amazingly I also have breaking news from the LSE about China which will horrify you all.

Tom Winnifrith Bearcast Special - Its China fraud day

Published 608 days ago

Naibu, Jiasen and over in Germany Joyou, it is all happening on the China fraud front. The London Stock Exchange's attitude and inaction is a disgrace. If you still own shares in JQW, Camkids, Jiasen, Chaintek or Asian Citrus you are bonkers. A short bearcast covering the day's events and a meeting with a feral cat.

I won’t tip any share this year because in my view, the rally in 2015 is done

Published 609 days ago

At the UK Investor Show I made a bearish statement; I won’t tip any share this year because in my view, the rally in 2015 is done. I expect a large correction sometime in the not too distant future. The FTSE 100 could go down by as much as 10%.

Tom Winnifrith BearCast - 12 May

Published 618 days ago

Now on my 3rd PC in 10 days forgive the two minutes silence at the end of this bearcast...I was trying to say, more on that to follow but this little horror of a machine froze on me. Anyhow this podcast covers Reach4 Entertainment, Sefton, Hunter Resources, Camkids and the other China Norfolks, New World Oil & Gas and the growing sense of doom here in Greece.

The good news is that the market for ripe bananas is booming , now for the bad news

Published 620 days ago

Chris Bailey, the founder of Financial Orbit always finds the quirkiest data - this week it concerns ripe bananas. The bad news starts in China and ends up with some sage words from George Soros. Those who expect the equities surge to continue ad infinitum should spare a few minutes to listen to this podcast.

Tom Winnifrith BearCast -May 7th

Published 623 days ago

Hi apologies for the podcast delay, after a long trek down to the Mani I fell asleep. In this bury bad news on General Election day podcast I look at news from Red Rock Resources, African Copper and a laughable statement from SCS Upholstery. I also cover the China frauds, specifically Camkids and Naibu but also Sorbic, JQW, China Chaintek and Jiasen and have a message for Alan Green about a motorbike upgrade. And I cover New World Oil & Gas

Camkids – Ned walks: the writing is on the wall

Published 623 days ago

Camkids is widely believed to be another AIM-listed Chinese company which can’t be trusted. Tom Winnifrith is bolder in his view on this one in light of events at Sorbic today HERE. Back to Camkids, with its shares having fallen by 50% over the past two weeks since it failed to declare a final dividend, the stock lower again today at 17.4p as we receive an RNS stating that British non-exec Richard Sweet has resigned with immediate effect. 

Sorbic finally admits CEO has stolen all its cash but it could well be worse at this China AIM fraud

Published 623 days ago

The London Stock Exchange denies that there is a problem with China AIM frauds. What planet is patrician twit Chris Gibson Smith on? Well it is only dirty little people (aka private investors) who are being cleaned out so who gives a FF anyway, Chris old boy? This brings us to Sorbic (SORB) which today admitted that its CEO has stolen all its money, In fact I reckon it’s worse than that.

Charaat Gold has very real potential

Published 625 days ago

Like so many mining companies on AIM, Charaat Gold (CGH) has failed to live up to expectations so far, but that could soon change. The company owns the Tulkabash mine, in the Kyrgyz Republic, and is currently awaiting news on the full Definitive Feasibility Study, due any time now, and from what it has so far released, it looks very interesting.

Tom Winnifrith BearCast 2 May - New World & Aquatic Foods

Published 628 days ago

Two looming scandals on the AIM casino -next week will be New World Oil & Gas (NEW) where it could be an explosive headache for ninth rate Nomad Roland "fatty" Cornish and then Aquatic Foods which the Chronic Investor reckons is a Red Flag free China play. Au contraire.

Sorbic International and Naibu – All is well on the AIM Casino, according to the London Stock Exchange

Published 629 days ago

This must all just be a complete coincidence. Two AIM China companies have announced the sacking of their head honchos by the non-execs. Both are suspended pending financial clarification. Both have engaged Chinese legal firms to gain control of cash/assets of their respective companies.  Both apparently have plenty of cash, it is just a small issue that the cash seems to be stuck in China.

Another day & Sorbic, another AIM China fraud, suspended as the claimed cash mountain disappears

Published 629 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.

Tom Winnifrith Bearcast - 30 April

Published 630 days ago

The Mrs is finally back from India tonight but her delay is clearly a breach of my human rights. Will any political party remedy this? The podcast refers back to yesterday's bonus China fraud Bearcast on Gate & Naibu (see HERE) before moving into the farce of today's two China Norfolks in the news, JQW and Sorbic. Then there are the lessons we learn from Arria, the Kenmare tale, Optare, Mosman and Ubisense which seems like a POS.

Tom Winnifrith Bearcast 28 April

Published 632 days ago

As we prepare for the London Stock Exchange peasants revolt tomorrow I consider more failings on the AIM Casino. In the podcast I also cover Rose Petroleum, JQW and Camkids ( both China Norfolks) and the latest farce at Horse Hill.

Rio Tinto will do well when iron prices recover - meantime bank the yield

Published 636 days ago

When it comes to commodities, much of the focus has been on the drops in the prices of oil and gold, but iron ore has performed even worse. The price of iron has more than halved in the past year, dropping to around $50 per ton and trading close to a ten year low – although it has just put in its biggest gain since October 2012, having risen by 5.9% yesterday to a price of around $54. 

Tom Winnifrith Bear with a sore head Cast - April 15

Published 645 days ago

Thank you to the uber-foxy PR bird for Symphony, brokers Tim & John, foxy bex and the PR spinner to David Lenigas for last night. This bear now has a very sore head and is feeling fragile. Notwithstanding that I go into battle today starting with the Horse Hill omnishambles notably in regard to Solo Oil, moving onto two Chinese POS stocks warning today, to that specialist in China Frauds Daniel Stewart and its own profits warning. I then look at why Kirkland Lake is to leave the Casino and then also at another China POS stock now on ISDX having been booted off the Casino. A second bearcast on Quindell & Slater Gordon is to follow.

A look at some of the rascals involved in the Gate concert party.

Published 650 days ago

It is little wonder that AIM listed China scam Gate Ventures (GATE) chose not to reveal the identities of those behind the concert parties that control 87% of its stock in its IPO admission document.  Nevertheless the fingerprints of “colourful” entrepreneur Dr Johnny Hon appear to be all over it.

Tom Winnifrith Bearcast - 8 April: Defending NonDoms and more

Published 652 days ago

I start by defending NonDoms. Do not get me wrong the owner of Chelsea FC is not my fave guy but the politics of envy is self defeating. Then to stocks - I start with the China Norfolks and then it is onto Coms, blinkx, Trinity Exploration, the BG/Shell deal and what it means for smaller oil stocks and Starcom.

Tom Winnifrith Bearcast 27 March

Published 664 days ago

In today's podcast I urge you all to book your seats for UK Investor now as there are fewer than 100 of the 2000 tickets for the big day (April 18) still going. All tickets will be posted early next week. You can book HERE. In terms of companies I cover Quindell, Coms, Teathers Financial, Tower Resources, Gulfsands, JQW ( rapidly looking like my fave China Norfolk) and a POS called Messaging International.

Tom Winnifrith BearCast 25 March - a busy day

Published 666 days ago

Jeepers, I am meant to be preparing a romantic meal for two tonight and I have not even started. The Mrs will not be pleased but it is a busy day. On this podcast I cover China frauds -and invite you to vote on which will be the next AIM Casino China Norfolk to see its shares suspended (HERE), Monitise, Eclectic Bars, Coms and more.

Reader poll - which will be the next China AIM stock to be suspended as fraud emerges

Published 666 days ago

I mentioned this in BearCast and it is just a bit of fun. Shares in Naibu remain suspended as the CEO of that fraud Mr Houyan Lin languishes in a China gaol cell. So which will the be the next China AIM stock to be suspended for whatever reason - natch fraud is the most likely reason, Vote now, results tomorrow

When Will The LSE Shut The Gate on China Fraud on AIM? A Job for the Sheriff

Published 666 days ago

I recently had a rant about AIM fraud Naibu (NBU), pointing out the profoundly depressing fact that it is only when the monthly retainers paid by the fraudsters to the UK non-executives,(in this case Giles Elliott and David Thomas: remember the names) dry up as the last of the money is stolen, that any action is taken: in this case the suspension of the shares and an admission that the CEO has disappeared (apparently he is in prison)

Tom Winnifrith Bearcast 5th March

Published 686 days ago

I start with admin matters: I shall be served with an injunction by Aiden Earley, shadow director of the fraud Worthington at 4.30 PM and have a few snippets of bad news for Aiden. I congratulate Brokerman Dan on being named the share blogger of the year. Then to business. In this podcast I touch on Quindell, Move onto William Sinclair, Jiasen ( a China Norfolk), Tern, Sareum and Afren.

As the Rising Pound Hits Most Balance Sheets, Here's the Kind of Company to Sell.

Published 688 days ago

Hello Share Shovellers. As a fairly frequent traveller in Europe, I am cheered by the new value of the pound against the euro.

China – AIM just does not get it – shocking revelation

Published 697 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.

A most Excellent Financial Orbit – the financial world has gone mad edition

Published 704 days ago

That is not the official title of this week’s Financial Orbit but my pal Chris Bailey should have used it. This is a most excellent edition covering the insanities of negative bond yields in Europe, the alarming disparity between earnings revisions and equity re-ratings on the S&P, data on new brokerage account openings in China and much else. To my friend Mr Bailey, I say “this is your best issue yet!”

Greece, China, Japan, the US – where’s the value?

Published 718 days ago

The first Highlights since mid-January due to travel finds the global financial markets at a similar point to which we left it: troubled and hence volatile. Still opportunistic too of course but you need to be brave, skilled or lucky (or maybe all three…).

Tom Winnifrith BearCast - Grand Group Investments - another China POS IPO - Red Flag Special

Published 724 days ago

Grand Group Investments plans to IPO on AIM tomorrow thanks to fat crony capitalist Ray Zimmerman of ZAI Corporate Finance. The usual advisers to China Norfolks are on board: dirtbag lawyers Pinsent Masons and PR poshboy Henry Harrison Topham, I say old chap didn't your grandfather bugger mine behind the bike sheds at Eton? In this podcast I look at the other Red Flags

Tom Winnifrith Bearcast - 23rd January

Published 727 days ago

In today's podcast I look at the PR/Financial Press corrupt deal. I then move into Quindell, Robinson, Cambria Africa, Frontier Mining, what timber prices tell us about general earnings visibility, Gowin New, a new China POS that had been flagged up to me called JQW (target price 0p), the Wandisco pump and dump and Jiasen International.

Lucian Miers goes short China Chaintek at 60p – target price 0p

Published 737 days ago

The suspension of trading in shares in China fraud Naibu (NBU) will make bear raider Lucian Miers a stack of cash as he was a long time short. So who is next?

The end of squalid China fraud Naibu - who is next?

Published 740 days ago

As predicted just days ago, I see that the non-executive directors at the squalid China Fraud Naibu (NBU), “experienced” accountant Giles Elliot and “experienced” lawyer David Thomas have extracted their heads from their arses and had the shares suspended. 

Tom Winnifrith Bearcast 9 January - Fraud, Naibu kill, other AIM China stocks & Quindell chairman, PWC & fraud

Published 741 days ago

Really just a few matters on the agenda in this special prompted by the suspension of shares in Naibu (NBU) today. I have been calling this out as a fraud for a year. I win. I look at the read across to China Chaintek, Camkids and Jiasen, to what it says about ZAI Corporate Finance and its other clients and what it says about any other stock I call out as a fraud. I look at Quindell, rumours about a new chairman, PWC and the fact that it too is a fraud. I also have more to say on the matter of free speech.

Share Prices Stabilise – Now Look for Big Gains.

Published 741 days ago

Hello Share Swizzlers. In the new year, shares took an alarming lurch into the red abyss. Did this bother me? Not a bit.

Black Swan New Year Letter 2015

Published 742 days ago

So as 2015 dawns we can gaze upon the familiar wreckage that is the new norm for the Euro. The blood coming through the Greek bandages, which we were assured were merely little bits of residual bleeding, are now exposed to be the full-on broken limbs some of us said were always there. How much has been spent on Greece? Does any body know? €45 bill to start in 2010, two months later €130bil, €130bil in 2011, the default of 2012 for €206bil and another €130bil needed at the end of 2012…is this the same money: does anybody care?

Tom Winnifrith’s share tips of the year 2015, No 8 – sell Jiasen International at 42.5p

Published 746 days ago

Anyone owning a Chinese based AIM stock is certifiably bonkers.  That is especially the case if it is based in Fujian Province, a small part of the PRC which has specialised in listing frauds on AIM, the Frankfurt Exchange, the TSX and NASDAQ.  The Fujian four on AIM are: Camkids (CAMK), Naibu (NBU), China Chaintek (CTEK) and Jiasen International (JSI) and for all four my ultimate target price is 0p. But I feature Jiasen today at 42.5p as a sell of the year.

HSBC at 612p an attractive long term buy?.

Published 748 days ago

With the year 2014 complete we now turn to think what it may mean for HSBC (HSBA) and the results to be published early in the New Year. A glance at the charts suggests – from the perspective on a one year view – that the shares are perhaps are towards the bottom of a sideways trading range in which the share price has found  support at around 590p and a potential., imputed possibility of it getting back up to 640p or so in due time. 

2015 has almost arrived – it is waiting at platform 1.

Published 750 days ago

Despite the unpredictable economic weather conditions in 2014 the intercontinental express of world locomotion has hissed and steamed its way into the station where hopeful travellers throng with heavy baggage and uncertain expectations. The train has arrived but in which direction will it be travelling; through what terrain and at what speed?  

Absolute tummy rot on Jiasen International – a China POS

Published 761 days ago

I actually like the team from Beaufort Securities but have to pull them up for this note of last Thursday on AIM China POS Jiasen International (JSI). This company may be legit but everything it states follows the pattern of companies – like it – from Fujian province which are out and out frauds.

Tom Winnifrith Bearcast 19 December

Published 762 days ago

On the agenda today, a detailed look at Gowin New ( another China POS with a hilarious balance sheet), Peer TV, Nature Group, New World Oil & Gas and the hoods at Directors Talk, Oilex and Sefton Resources

Xaar – forecasts increased, but the picture bright enough to suggest the shares a buy?

Published 762 days ago

Following a recent more positive trading update from digital inkjet printing technology company, Xaar plc (XAR), researcher Edison has upgraded its (previously vastly reduced) earnings forecasts for 2014 and concluded that “the rating does not look demanding given the growth potential, IP and cash generation”. The following reviews.

A Bumper Christmas Pressie for Takers of My 2014 Tip Fortune Oil.

Published 762 days ago

Hello Gang. It's nice to be able to benefit from a bit of good news these days. But my rather large – most would have said too large – holding in Fortune Oil (FTO) has paid off.

HSBC: A share to buy

Published 766 days ago

Season’s greetings share selectors. HSBC (HSBA) is going to be one of the shares to buy for 2015. As you know, I already hold shares in “The World’s Local Bank” and intend to at least hold throughout 2015, and maybe even add to them.

Shares Will Soon Be Riding Up Santa Claus Lane.

Published 768 days ago

Hello Share Tweakers. So shares aren't doing too well at the mo. All those of us who expected a Santa rally to squeeze in before December 25th have so far been disappointed. We got an early Yuletide splurge, but it wasn't much of a fillip was it?

Video of Nick Bryant of PGC Entertainment presenting at the ShareProphets seminar 8 December

Published 769 days ago

PGC Entertainment (PGCE) listed on the AIM Casino just a few days ago. It operates in China but is run by Westerners. Its CEO Nick Bryant presented at the recent ShareProphets seminar on December 8th. To make sure you get priority alerts to book into future seminars register HERE. To watch Nick in action and see his presentation see the video below.

Tom Winnifrith BearCast - Daniel Stewart ties itself in knots over China Chaintek - Research? LOL

Published 771 days ago

Hapless Daniel Stewart is tying itself in knots over AIM Casino listed China fraud China Chaintek (CTEK). A research note out yesterday is just LOL stuff as I explain in this mini bearcast.

Tom Winnifrith's BearCast 2nd December - New China AIM POS Revealed

Published 779 days ago

Rain delayed play on the olive harvest but is now back underway again but without me for this afternoon as I have business to attend to in Kalamata and you, my dear listeners, to satisfy with the revelation of a NEW China AIM stock capitalised at £88 million which shouts out red flag. I also comment on Forbidden Technology, Tyratech and growth stocks that stumble, on Ortac Resources, Beacon Hill Resources and raise a few points about the fraud souffle that is Quindell

Naibu: Even House Broker Daniel Stewart Gives Up, forecasts, stance, targets all suspended

Published 786 days ago

Daniel Stewart earns £6,250 + VAT pcm for being Nomad and broker to China fraud Naibu (NBU) – it needs the cash. But its latest note from respected analyst Simon “Wincey” Willis shows that even it has had enough. All forecasts, recommendation and target price have been withdrawn. It seems that even Daniel Stewart is alarmed by this total joke for reasons I explained yesterday HERE.

The Fraud Naibu lies again – you could not make this up (but Daniel Stewart believes it)

Published 787 days ago

The China fraud Naibu (NBU) has today served up a ghastly profits warning but it gets better – it has now changed its excuse as to why a company supposedly drowning in cash has had to scrap its dividend. But Nomad Daniel Stewart, the specialist in floating China frauds, has signed off on the ludicrous statement so that is alright then. Another £6,250 pcm retainer saved for Daniel Cesspit. Ching. Ching. Coke and hokkers all round.

FTSE 100 boosted by China rate cut but the good news is in the price

Published 790 days ago

Today’s news that China cut interest rates has been well received by the stock market. The FTSE 100 rally continues, the UK index has now retraced 80% of its previous decline and has regained the levels above the 200-day moving average. 

Standard & Chartered, Q3 results – hold or buy?

Published 812 days ago

If I were a poet looking for some metaphor or simile to describe the near majestic decline of the Standard & Chartered (STAN) share price this year, I would chose to compare it to that great fountain fed, monumental landscaped waterfall at Chatsworth House, where the water cascades down in steps from a great height, until it reaches its distant bottom. But has Standard & Chartered reached its bottom at long last? 

China Fujian Province Shoe Fraud update ref Naibu & Camkids

Published 816 days ago

I have noted before the remarkable take of Ultrasonic a China shoe fraud from Fujian listed in Frankfurt. It is of note of you are stupid enough to own shares in AIM Casino listed Naibu (NBU) and Camkids (CAMK) which are also shoe plays from Fujian and also frauds.

Market Volatility and Growth Uncertainty Brought Back Interest into Gold

Published 824 days ago

The U.S. Comex gold futures outperformed all the major asset classes this week, jumping 1.60% to end at $1,241.20 on Thursday. Gold prices have surged while the S&P 500 Index has dropped 2.26%, the Euro Stoxx 50 Index has plunged 3.87%, and the crude oil futures have dived 3.64% week-to-Thursday.

We are all doomed? Or are we? Reasons for being cheerful or: - ‘Hit me with your rhythm stick!’

Published 825 days ago

So the yield on short dated US government bonds fell below 2% on Wednesday 15th of October, upsetting the apple cart of portfolio planning by those who were persuaded that inflation was on the rise - thanks to the easing of quantitative easing known therefore as ‘tapering’ to avoid the confusion of too many ‘easings’ – and the cost of credit going up, due to a forecast shortage of supply as the Fed closed it easy money till. Normality was coming back along with higher borrowing costs. 

Gold demand believed to grow and stabilise the economy

Published 838 days ago

Martin Murenbeeld highlights in the recent Gold Monitor the lack of attention steered towards the continuing up-take of physical gold in China. Despite the general conclusion of physical demand in China being down year-on-year, from record level 1,275t last year to an expected 900-1,000t according to WGC, the distribution of physical gold through the Shanghai Gold Exchange (SGE) shows a growing appetite for gold in the long term.

Wild Rides Rides Again - with Tertiary Minerals.

Published 840 days ago

Hello Share Shunters. Dedicated ShareProphets poster Wild Rides is a very wise and - judging by his frequent posts on this merry website - a very experienced share shifter. He and I are occasional investors in a penny share outfit which goes up and down like a yo-yo some of the time.

Daniel Stewart – what a total joke: shares suspended

Published 841 days ago

Daniel Stewart (DAN) earns its living as a Nomad and broker to AIM listed stocks. That is to say it charges fat fees for advising them on how to play by the AIM rules, for listing them and for raising money for them. It has no standards so was responsible for bringing Quindell (QPP) to the Casino and also acts as Nomad to China fraud Naibu (NBU) and tried to float China fraud Fraspens in August but seems to have failed. Today Daniel Stewart’s shares have been suspended.

China Chaintek interims – this stinks of Norfolk too

Published 850 days ago

From the team that brought you Naibu (NBU) we also have China Chaintek (CTEK) which released its interims today and it goes without saying that they do not stack up either. My target price for the shares is 1p (the value of the cash dividend on offer) but since it will probably be the last when the stock goes ex my target price will be slashed to 0p.

Ten key thoughts from the first day of the 2014 Casey Research Summit

Published 851 days ago

It was a ascinating first day at the 2014 Casey Research Summit 'Thriving In A Crisis Economy'  Conference in the US. Looking at all my notes and thinking through all the conversations I have had ten key takeaways (in no particular order) and relevant matters to think about from my perspective:

Financial Video Postcard #51 – China, liars and the failure of AIM

Published 851 days ago

It is clear that a number of fraudulent Chinese companies have been listed in the AIM Casino. And also that a number of non-Chinese companies tell outright lies and also commit fraud.

Eric Sprott: Get Your Money ‘Out of Banks and into Something Tangible’ - the economy is STILL broken

Published 854 days ago

Eric Sprott the founder of Sprott Asset Management is perhaps the best known resource investor on earth. He says that he now has 80% of his portfolio in precious metals because the economy is just in a very bad place. It is just that people do not realise it yet so shares, cash in the bank is duff money. Sprott says you should but gold NOW because “when people finally decide they want to buy gold, there probably won’t be any gold.”  So asked what he is buying and why Sprott said in a recent interview:

The Fed, the Middle Kingdom, and the Scots are Near-term Drivers of Gold

Published 855 days ago

The markets in the first half of September have certainly been interesting. After bouncing back 0.41% in August, the U.S. Comex gold futures have tumbled 3.95% to $1,235.70 month-to-date while the Dollar Index has surged 1.6% this month to 84.074 as of 16 September. 

No sane person should touch any AIM listed China stock with a bargepole

Published 855 days ago

The recent passing of its interim dividend by Naibu (NBU), which would have involved an outlay of £600,000 against claimed profits of £20 million and claimed net cash of £30 million has prompted accusations of fraud and skull doggery at the Chinese sports shoemaker and put the spotlight on other China frauds that might be lurking on AIM.

Another listed Chinese firm sees shares collapse today as theft and fraud emerge – this time its Ultrasonic listed in Germany

Published 855 days ago

Frigging hell how many warning signs do investors in AIM listed China stocks need? Today’s shocker comes from Germany where Ultrasonic – a shoe maker – has seen its shares crash by 79% in just one day. But there is a read across to some of our AIM listed frauds.

An Open Letter to Alex Salmond: Post #IndyRef Scotland should use the Renmimbi and flourish

Published 856 days ago

Richard Poulden, the uber-libertarian CEO of Wishbone Gold (WSBN) has written to Alex Salmond with two helpful suggestions on how to make an Independent Scotland the economic powerhouse of Europe. Richard writes: 

Was it Naibu that scuppered the Fraspens IPO or has Daniel Stewart stopped floating shit on the AIM Casino

Published 856 days ago

The sorry saga of AIM listed China fraud Naibu (NBU) gets murkier and murkier and at the heart of it is City Nomad and broker Daniel Stewart, the firm that brought Quenron to the AIM casino and acts for Naibu. I asked it to show integrity at the weekend by quitting Naibu given my explosive revelation HERE. But Daniel Cesspit would rather bank the fees. So let’s talk Fraspens. Fraspens who you say? Well let me explain, on 21 July this fine enterprise issued a press release announcing inter alia:

HSBC: Buy, sell or hold?

Published 866 days ago

Shares in HSBC (HSBA) are currently trading at 657.8p, offering a yield of 4.59% and on a PE of 12.89. So are the shares a buy, sell or hold?

What if China, Russia Succeed in Going off the Dollar? -- Alasdair Macleod

Published 881 days ago

Sprott Global has just interviewed Alasdair Macleod. Alasdair writes the blog FinanceAndEconomics.Org. His research aims to explain the relationship between the dollar and gold, and to warn investors about the biggest threats to their wealth from macro-economic events. Besides what the Fed is doing by printing money, there is another big threat to the dollar, said Alasdair. Countries in Asia are banding together in order to rid themselves of using the dollar in international trade.

EMED – Buy after placing

Published 884 days ago

Having worked to have key permits granted towards the re-starting of production from the Rio Tinto copper project in Spain,  EMED Mining (EMED) has announced a €6.80 million net cash outflow in the six months ended 30th June 2014. Together with that negotiations “in respect of an equity financing to support an altered debt and equity structure… have taken considerably longer to conclude than originally anticipated”, this put its balance sheet in a troubling position and has seen it conditionally raise a further £13.1 million at 7.25p per share “to fund its activities up to the end of 2014, and thus enable the company to finalise its plans for the full financing of the Rio Tinto copper project”

Chris Bailey warns on QE, issues for the Fed and dire Japan

Published 892 days ago

‘Another interesting week…not a dull summer at all’Moving towards mid-August, corporate results season peak behind us and most of the thoughts from the global central banks until September uttered it is easy to conclude that some time away from the markets awaits.  Perhaps accentuated by holiday absences market volatility remains high and sentiment continues to wane.  It feels to me as if the autumn will bring more policy-making surprises including a clear growth in global QE.  That will transitorily bring some relief to markets but at the cost of more general volatility across all asset classes. Keep flexible with your investments.  2014 has a few more surprises left in it.

So what have been my highlights of the last week?

Naibu – Daniel Stewart pumps out buy note but will not answer critical question – target price cut to 0.0000001p

Published 896 days ago

Following the comical trading statement from AIM listed POS China joke company Naibu (NBU) earlier this week – see HERE - Broker and Nomad to this Norfolk, Daniel Stewart, has published a buy note but refuses to answer my utterly critical question. The shares have slumped to 43.5p putting them on a PE of 0.95 and a yield of 13.8% if you believe the forecasts. I do not and am thus slashing my target price from 1p to 0.0000001p and will reduce it further if Daniel Stewart cannot answer this question:

Naibu – a Poem by MP Earl, aged a bit more than 17 ¾

Published 898 days ago

With a hat tip to EJ Thribb from Private Eye, Matt Earl, the Dark Destroyer, has penned a poem in honour of joke China AIM company Naibu (NBU)after its comedy statement of today. It reads:

Poor Phorm Tick Tock Tick Tock – 4 weeks to insolvency – now what about your shit in Brazil

Published 914 days ago

I noted in a previous article HERE that Phorm (PHRM) was only a few weeks away from running out of cash and going tits up. Notwithstanding its $10 million fund raise in March it will be on its way to PLC heaven in mid-August unless some more mug punters like Evil Knievil are found to keep this fare going. I know that the company is telling a jam tomorrow story to investors right now. But before they fall for that ask Phorm about Brazil.

Poor Phorm: Now tell us the truth about the “scale back” in Romania, before I get Nastase on you

Published 930 days ago

Poor Phorm (PHRM). It has woes aplenty. First up it runs out of cash and unless some sucker gives it more it will go tits up in six weeks’ time. Secondly it appears unable to tell investors the complete truth about certain of its problems, like being shut down by the regulator in Brazil as I revealed HERE a few days ago. And thirdly it sees that it is not just Brazil where it has problems with regulators.

The latest issue of Financial Orbit Highlights is out - download June 2014 issue here

Published 941 days ago

Time really does just fly past.  It has been about a couple of months since my last Highlights publication – apologies for that – but the ever expanding range of activities under the Financial Orbit banner has kept me very busy.  The good news is that new articles have been appearing on www.financialorbit.com every day despite the busy schedule…and the even better news is that I am looking to augment this with a restyled highlights piece each Saturday of four or five pages in length (of which this is the first one).

South African Strike Positive for Gold despite Weak Physical Demand

Published 953 days ago

The U.S. Comex gold futures have risen 0.61% this week to end at $1,260.10 on Tuesday on the back of the breakdown of the talk to end the South African miners strike and the precious metals group rally. The S&P 500 Index has been flat and the Euro Stoxx 50 Index has risen 0.59% during the same period. The Euro/Dollar has dropped 0.70% this week to 1.3547 on Tuesday while the Dollar Index has risen 0.51%. The U.S. ten-year government bond yield surged 6bp to 2.644% in the past two days.

Buy Leyshon Resources: Above 14p Targets 22p Plus

Published 1371 days ago

It is rarely the case that progress either on a fundamental or technical basis runs smooth small cap resources stocks, and on this basis one can say that China focused Leyshon Resources (LRL) has been par for the course. However, while the price action has been rocky, at least since the great November spike for the stock, there has been what could be described as a method to the madness.

Rio Tinto: a low price and prospective price to earnings ratios, plus a relatively high estimated dividend yield makes the shares look attractive.

Published 1378 days ago

There are not too many times when darting and hovering investor is able to by Rio Tinto (RIO) at an historic dividend yield that close to that of the FTSE 100 Index. I note that that the dividend yield on the FTSE 100 index last seen was 3.55% and the historic dividend yield on RTZ was an attractive looking 3.5%. At a share price of 3,176p its ordinary shares are back to levels last seen three years ago and well below the price of above 4,500p it reached in 2011. Clearly a closer look is suggested.

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