Tom Winnifrith: The Top short sellers, bears and fraudbusters all together on April 1 - don't miss out
Published 21 days ago
ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) has been taking up a cell in the Casino’s Death Row since its shares were suspended pending accounts on 21 September 2016. Under AIM Rule 41 it has just days to release numbers or become the 25th departure from the Filthy Forty. Whatever happened to the links to Unionpay? The e-wallet? The software? And is Interim CEO Craig Niven again about to preside over the collapse and disappearance into the ether of a Lin brothers fiasco?
Published 73 days ago
ShareProphets AIM-China Filthy Forty play PCG Entertainment (PCGE) has announced a rescue deal. It is great news for shareholders and a stunning coup for head honcho Richard Poulden, the Chairman, who stepped up to the plate following the shocking emergence of difficulties involving previous top dog Mr Kung Min Lin and a deal to buy Centre Point Development Corp (CPDC). The deal announced today looks to be a full lancing of the boil.
Published 237 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.
Published 265 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.
Published 286 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.
Published 288 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.
Published 289 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.
Published 298 days ago
Oh dear, oh dear. I have the utmost respect for Richard Poulden who had the grim task of overseeing today’s awful trading update from AIM-China play PCG Entertainment (PCGE) and like Tom Winnifrith I had hoped that his outfit might prove to be a rare winner on the Filthy Forty. My experience of him has been one of immense integrity a very sharp mind so it is with considerable sadness that I am writing this. But a bit more digging later, it looks just awful – although, I must stress, not on Mr Poulden - and there is a worrying implication on fellow Filthy Forty play MoneySwap which is already is considerable trouble. Sadly, I fear that AIM Regulation needs to do a full steward’s here.
Published 496 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?