LEK

Lekoil – prospective offer twist amidst the current fine mess

Previously writing on Lekoil Limited (LEK) I noted dynamite accusations from its own operating subsidiary, and also more woe for SP Angel?. Now that operating subsidiary, in which it has a 40% equity interest, Lekoil Nigeria, has announced it is to make an offer for Lekoil Limited shares and Lekoil Limited has responded…

PREMIUM CONTENT

Tom Winnifrith Bearcast - after today's goof Versarien needs to sack its FD but who'd want the job?

Recorded from my new studio, that is to say a hired car in Greece,I start with olive harvest news then move onto Versarien (VRS), Supply@ME Capital (SYME), Guild eSports (GILD) and Argo Blockchain (ARB). Natch you’d be bonkers to own any of these four stocks. 

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FUL

Fulham Shore – interims, does the ‘ahead of expectations’ justify the valuation?

Franco Manca and The Real Greek restaurants company Fulham Shore (FUL) has announced results for its half-year ended 26th September 2021 and emphasises “continued buoyant current trading ahead of management’s expectations”. Sounds good…but what does it mean financially?…

VRS

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BREAKING: Versarien – inadequate revenue disclosures, breach of IFRS 8 & cash nightmare

Let’s start with a positive.  Versarien now separates its revenues and losses between graphene and non-graphene business as we have long suggested they should do.  This avoids the need for Shareprophets to undertake an annual visit to Companies House to perform the analysis to reveal the low ongoing graphene sales and the scale of the losses that are being racked up in this business.

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ARB

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Boatman Capital savages Argo Blockchain again - devastating dossier Number 2

The highlight of this dossier is Boatman demonsrating how Argo’s (ARB) rebuttal of its allegations about a dodgy Texas land purchase made in dossier No 1, just does not stack up. One might even say Boatman shows Argo was telling porkies.  Then there is the really sniffy related party investment in a company in all sorts of regulatory scrutiny because of its involvment with disgraced broker Pello and its “colourful” boss Andy Frangos. And it goes on and on. As Boatman points out, if you believe in electronic tulips there are many ways to play bitcoin without buying into Argo’s forest of red flags. Anyone owning these shares is mad. The dossier is below.

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MODE

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The Mode share price has dropped a lot recently, but for good reason after issuing a dodgy RNS! Bargepole!

Mode Global Holdings (MODE) is typical of many small technology companies in that it burns through cash at an alarming rate whilst trying to grow its revenues to any sort of meaningful amount.

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MMH

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More private equity deals? Don’t hold your breath though...

Congratulations if you are a holder of the ‘new and used cars, vans, trucks and bikes, parts and servicing’ company Marshall Motor Holdings (MMH) which today announced its ‘intention to recommend shareholders accept offer by Constellation’. Well done if you bought the shares 18 months ago at a quarter of acquisition price. Personally I am still getting my head around the comments a couple of days ago that Auto Trader observed that ‘of 900,000 vehicles going through its portals, the average price of a used car had risen on a like-for-like basis by 28% over the past year to £17,366’.

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FAB

Fusion Antibodies – interims, really “a strong all-round performance” and outlook confidence?

Antibody contract research organisation Fusion Antibodies (FAB) has announced results for its half-year ended 30th September 2021 emphasising “20% underlying growth in revenues over H1 FY2021… and in particular the two major contracts which were secured which, taken together with the remaining pipeline of projects with other customers, give the board confidence that revenues for the full year will be in line with current expectations”. However, what is the financial impact of the revenue and what are the full year expectations?…

EDGH

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Edge Performance VCT – Is This The Longest Corporate Suicide Note In History?

In response to the second sack-the-board EGM requisition as detailed HERE the Board of Edge Performance VCT (EDGH and EDGI) has issued a letter to its H-share holders. The arrogance is breath-taking but the ShareProphets RNS Translation Service wonders if it is the longest corporate suicide note in history. The statement reads (in bold, with the ShareProphets RNS Translation in normal type):

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HFD

Halfords Seems a Merry Investment Ride that Could Be Boosted Further by the Santa Rally

Hello, Share Sparkers. While investing in most retailers is probably not recommended now, there are one or two outfits that escape the current headwinds. I’ve commended Halfords (HFD) before as it’s hard to see how the stores won’t benefit from covid before, now and in the future.