By Tom Winnifrith | Tuesday 7 February 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.
Bear raider Waseem Shakoor has let rip again on the fraud Cloudtag (CTAG). The great Waseem, currently recovering from a sporting injury common among middle aged athletes, has served up a real reality check to the morons on how quickly, if ever, Onitors appear in British stores. This is a strong follow up to yesterday's coke penis photo report from the Spring Fair. What is fascinating is how the LSE Asylum is applying selective censorship of Waseem who says that he has received a message from LSE asking me to refrain from saying "I've spoken to a Cloudtag source" as it couldn't be verified. Since when did everything you write on a bulletin board have to be verified asks the Bear. Indeed. Waseem's two posts, which will no dount be removed altogether soon, read:
Reality Of The Retail Process
Back in November, I offered to pay £1000 to charity if CTAG were able to make its product (not shares!) available in any major retail outlet by the end of March. I think my money is safe - although I'm happy to make a donation anyway.
The truth is there is a minimum lead time of 6 months to get products on shelves from the initial order confirmation. There is no chance of getting an initial order confirmation without a fully operating product with all the bells and whistles working. Onitor don't have everything working.
Second Chance mention John Lewis as being one of their clients. Companies like John Lewis have quality control departments that products have to pass through, even if they were willing to take products from companies which are financially weak, which they're not.
In terms of timescales, major retailers already know what they are putting on their shelves for Spring. If CTAG have a blowout product, then the best they can hope for is Autumn/Winter 2017.
I obviously don't believe they have a viable product at all, which is why I am short, and have remained so for months.
Meanwhile, L1 have continued selling and are at about the halfway point in terms of the shares they have to sell - we already know they are prepared to exercise warrants, contrary to the claims by bulls that they wouldn't. So far, their share sales have taken the price from 15p to 5p. Again, bulls here claimed that this wasn't death spiral funding, and they ridiculed those who suggested it was, despite the terms being available in an RNS.
I don't intend to intrude here for long, don't worry. However, I just thought it might be worth pointing out that any expectation of major retail chains stocking Onitor within 10-12 weeks is completely unrealistic, given what we know to date. It is, frankly, ridiculous as they don't have a fully functioning product, let alone a viable one which the market will rate as better than the competition.
Waseem then responded to a moron:
"As I've said several times, RNSable news will drop when it's ready to and not before - and the fact that CTag is now apparently withholding from issuing puff-filled and substance-free RNSes is a very definite improvement and can only be a positive thing. Compared to what's gone on before, that's a definite tick in the CTag box, IMO."
I'd suggest that it's more of a restriction, than a tick, to be fair.
I spoke to a Cloudtag source when the shares were under suspension, and it was confirmed by that source that the company was very frustrated at having the shares under suspension prior to the brand launch. The suspension was not at their request, if he is to be believed. This was around the time of the infamous "countdown clock", and the Advent Calendar full of surprises email from Amit - as well as the regulatory issues surrounding the conversion price of CLNs and warrants.
Since it came back from suspension, there have been no promotional RNSs from CTAG, which suggests that Cairn are being rather more careful about what they are willing to put their name to. In the meantime, we have unregulated rumours spilling on to these boards from people who have previously predicted the shares would be 30p by Xmas.
Any information I provide should also be treated with a huge dose of salt too, obviously - I expect that as someone who simply posts on a bulletin board. I haven't been shown to be wrong about what I've said about CTAG since I announced my short position months ago, however, unlike the bulls who have been shown to be over-optimistic time and again.
Never miss a story.
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