By Tom Winnifrith, The Sheriff of AIM | Tuesday 28 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.
Some bear raiders are on the pitch...they think it is all over: it is now! Nope not West Ham winning the World Cup but the stockmarket career of AIM fraud Cloudtag (CTAG). Nomad Cairn has brought forward its resignation from April 10 to last night, the £975,000 placing announced last week has been pulled and it is ouzo time for me while on the council estates the LSE Asylum rampers gnash their teeth. Come on guys, say it slowly "Yet again Tom Winnifrith was right and we are morons, we apologise for all the abuse we gave him, the Sheriff of AIM rocks!"
The 3.75p placing was pulled because Cloudtag neglected to tell Novum that Cairn had quit on January 10, a material non disclosure. As the shares tanked to 2.25p that gave Novum - which had taken the stock on a T+10 basis - the chance to pull pout since there was no way it could flip it on to its lucky clients. Laughably Cloudtag describes witholding this vital information as a "miscommunication." Whatever..
Cairn, on the other hand, just could not act for a company that behaved in this way. So the resignation - prompted by Cairn's unhappiness at the lies it had signed off on - was brought forward. Well done Liam Murray and Cairn for doing the right thing at last!
If Cloudtag had not needed the dosh it would not have done the placing. So we can now assume that it has already spunked nearly all the cash it has raised from L1 loan notes. But with no Novum cash and the ongoing share suspension ( because it has no Nomad) meaning L1 cannot exercise any warrants it now cannot raise any more cash.
No Nomad will now sign up to act for these shysters, especially after the events of the last few days, so the shares will be booted off AIM on March 28. My guess is that Cloudtag will now not feel the need to issue results by the end of March, it will simply disappear and go bust as a private company. As is the case with all frauds, in the end they run out of other people's money.
Next time I warn Bulletin Board Morons about a fraud perhaps they will take heed rather than abusing and insulting me. Another kill for the sheriff of AIM. To all those who backed Cloudtag (including Aidan Earley who said its own problem was my coverage), it is time to apologise.
Form an orderly queue as we all prepare for yet another rendition of the ShareProphets AIM casino Anthem in honour of Amit Ben Haim. Altogether now....
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