New sessions at UK Investor with Tom Winnifrith on Cloudtag and David Lenigas on Africa and UK Oil - new ticket offer
December edition of the UK Investor Magazine - featuring 7 tips, what our writers want for Christmas, Interviews with Conroy Gold and ECR minerals and much more
Published 6 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 32 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?!
Published 92 days ago
Shares in Moneyswap (SWAP) are suspended on the AIM Casino as the company can't get its accounts for the year to March 31 out (still) and because there are clear financial issues. But Nomad Allenby is clearly desperate for retains as it won't quit this obvious fraud. Well perhaps when it reads the expose that follows it will at last do the decent thing....
Published 108 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….
Published 115 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?
Published 115 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...
Published 118 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.
Published 118 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.
Published 120 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?
Published 132 days ago
It was announced on Monday afternoon that stricken ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) has drawn down another additional £147,000 under a keep-the-lights-on bridging facility whilst it tries to get a refinancing together. It has now borrowed $395,000 of a $200,000 facility, plus three extensions. Oh, and its CEO walked last week, with (apparently) non-Exec Chairman Craig Niven stepping in as interim CEO. Except on Monday he was still being noted as non-Exec in the RNS.
Published 138 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?
Published 170 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 198 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.
Published 198 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 219 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 221 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 222 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 231 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 238 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!
Published 252 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.
Published 266 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?
Published 275 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).
Published 312 days ago
The sizzling rumours - MX Oil (MXO) and Moneyswap (SWAP). I start and finish with a favour to all of my younger or more IT minded listeners. If you can please action that today it would be fab, Then I move on to look at Gulfsands Petroleum (GPX), Nighthawk (HAWK), Stanley Gibbons SGI), Starcom (STAR) and, in some detail, Cambian (CMBN) - where I do hope you heeded my warning 141 days ago HERE.
Published 418 days ago
Oh no Paul Scott is giving me health advice again. If he promises never ever to waterboard me again with online retail gross margins I might just quit smoking. Away from that I look at car crash Slater & Gordon (SGH) following up from the earlier detailed piece HERE. In a similar vein I look at NAHL (NAH). Then it is onto EKF Diagnostics (EKF), Moneyswap (SWAP), Oilex (OEX), Forte Energy (FTE), Alliance Pharma (APH), Iofina (IOF) and the Fitbug (FITB) dog. There is no mention of Jabba The Hutt today, David Lenigas must wait for Gold & Bears on Saturday for his next drubbing. And boy will it be a drubbing.
Published 429 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?
Published 445 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….
Published 472 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.
Published 476 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!
Published 478 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?