Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Value Trasher Edi Truell quits Tungsten as his hare brained ideas rejected - the shares are still a sell

By Tom Winnifrith, The Sheriff of AIM

21 March 2016 07:43

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Edi Truell, the founder of Tungsten (TUNG) has today quit the cash guzzling disaster story following the board rejecting his latest hare brained corpororate proposals. Mad Edi stepped down as CEO last July ago but remained, until today, as a NED. Does this make the shares more or less attractive?

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Comments

Duck and Dive

21 March 2016, 08:13

http://grammarist.com/spelling/harebrained/
Stuart Kaplan

21 March 2016, 10:26

“The Board of Tungsten has spent considerable time reviewing these suggestions…”

90% of it laughing uncontrollably I would imagine.
alcira16247

22 March 2016, 04:03

Tom

At its current 61 pence per share, Tungsten is capitalised at £70 million, which I’d suggest is about £70 million too much!

I’ve gotten more chance of walking on the moon than this flea ridden dog of a company ever has of making profits!

Its appalling record of prodigious cash burn since its birth on Aim is set to continue, as losses for the current year according to broker forecasts are pencilled in at over £26 million, derailing the new boards recent promises of positive cash generation in 2017.

Given that Tungsten has yet to demonstrate anything near a viable business model and its diabolical record surely make it a bargepole stock of the highest order?