By Tom Winnifrith | Sunday 8 January 2017
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.
Hapless Nomad Cairn has so far refused to resign as adviser to the AIM fraud Cloudtag (CTAG) despite incontrovertible evidence of house it has misled investors with RNS statements that are outright lies throughout 2016 and in doing so has committed blatant securities fraud. Today's shock video from CES where an Onitor spokesman admits that there is no release date yet is surely the straw that breaks the camel's back in that it directly exposes as a lie every statement made in November & December about 2016 sales that was used to get away a £4.1 million death spiral fund raise. I have written to Tony Rawlinson & Liam Murray at Cairn and cc'd in that useless poltroon Marcus Stuttard, head of the oxymorons at AIM Regulation demanding a statement and action.
To: Liam Murray & Tony Rawlinson at Cairn Financial
cc: Marcus Stuttard, AIM Regulation
The Fraud Cloudtag - damning new video, surely this requires action
We have today published a video on ShareProphets on an interview with Mr Peter Griffiths of Onitor ( Cloudtag) at CES. Mr Griffiths seems an honest chap and admits that there is not as yet any launch date set for the product.
I compare and contrast this with a range of statements made by Cloudtag CEO AMit Ben Haim in the 2016 calendar year raning from his January 25 claim of "guaranteed sales of $5.2 million in 2016) right up to claims made in December about first sales being achieved that month and first shipments made.
Some of these claims were made in silly podcast and TV interviews. But others were signed off by Cairn in RNS statements.
The expectation of material sales in 2016 but critically of sales in December allowed the completion of numerous fund raises throughout the year but - very importantly - the £4.1 million L1 death spiral of December. I put it to you that, in light of the statements of Mr Griffiths at CES, Cloudtag misled investors in a massive way in December and that as such:
a) It has committed market abuse and the FCA should be brought in to investigate
b) The position of Cairn is now untenable and it must both force a clarification statement from Cloudtag at once but also tender its resignation with immediate effect having itself, been misled yet again.
I remain, as ever,
Your Obedient Servant
The Sheriff of AIM
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