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Cloudtag - no forced clarifying statement for 5 days, now another one is needed

By Tom Winnifrith, The Sheriff of AIM | Tuesday 20 December 2016


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.


In an article earlier today by Nigel Somerville, we raised the question of how and when Cloudtag (CTAG) incurred £50,000 of costs on the issue of the first part of Tranche 2 of the L1 loan notes and whether it was an additional fees levied for the restructuring the L1 Loan notes. Since this fraud and its hapless Nomad Cairn have not been forced to put out a statement clarifying prior deceptions for five whole days, I fear its time for another one. You see...

A supplementary question that should be asked is did Cloudtag also incur £50,000 of costs in respect of the first Tranche of L1 Loan notes thus making a total of £100,000 of additional undeclared additional costs associated with the L1 loan notes.

I ask because the RNS of 9 December 2016 included the following sentence “The remaining nominal value of the outstanding Tranche 1 Notes held by L1 is £0.05 million.”

Cloudtag has now issued the first part of Tranche 2 of the Loan notes without apparently drawing down the remaining £50,000 of Tranche 1.

Time for a clarification from Cloudtag and Cairn Financial – who must be feeling a bit of a mushroom namely kept in the dark and constantly being covered in bullshit for another clarifying statement."

We Cloudtag junkies have had three statements in 15 days clarifying past lies ( albeit not always by telling the truth) but it has been five days since the last (untruthful) clarification RNS so it is about time we had another don't you think?


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