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Quindell – I go undercover to see just how laughable its industrial deafness numbers are

By Tom Winnifrith, The Sheriff of AIM | Monday 8 September 2014


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.


Quindell’s numbers for accrued revenue on Industrial Deafness will prove to be fantasy, in my opinion. That will mean massive writebacks of revenue and profits already booked, that all earnings forecasts are wrong and that a company threatening cash crisis is on the way by early 2015. Prompted by a former senior Quindell staffer to whom I have been speaking I went “undercover” today to show why.


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