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Tom Winnifrith Bearcast - talking to one of the 3 X's for almost an hour
The 3Xs are the fraudbusters best friends. In this case it was one of Julie Meyer's 3Xs and a new source. we chatted for just under an hour. More to follow. Oh dear, poor Ms Lingerie on Expenses MBE. In the podcast I look at UK Oil & Gas (UKOG), Purplebricks (PURP), Frontera (FRR), FastJet (FJET), MySquar (MYSQ) - where I have again contacted John Meyer urging him to get off his fat arse - Andalas (ADL) and Magnolia Petroleum (MAGP). The good news is that sponsorship of the walk I'm doing with Brokerman Dan for Woodlarks is now, with gift aid, at almost £11,000. I explain here why this walk makes the difference between Woodlarks having to cut services or carry on, please do give a tenner today. Think of my pain - not least in having to hear Dan talk total bollocks about Andalas for whole day - and COUGH UP HERE.
- By Tom Winnifrith |
- 28 June 2018, 08:49 |
Filthy Forty Origo Partners: FY17 numbers due tomorrow, another investment disaster clocked up
On Tuesday 26 June, ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) fessed up that it had lost another boat-load of cash, this time on Kincorra Copper (TSX.V: KCC). Actually, it didn’t – we were simply told it had been sold for CAD 2 million (around US$ 1.5 million). It is not until you realise that the company had sunk US$ 8.5 million into Kincora that you see what a shambles that investment was.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 28 June 2018, 08:26 |
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IQE and the £630m customer? Crackers valuation metrics - sheer insanity
Two years ago today, IQE (IQE) was trading at 17p per share, valuing the company at c. £120 million. Today the shares are nearly 6x higher at 100p per share, valuing the business at £750 million; an astonishing £630 million increase in value. And yet IQE’s most recent filing (year to 31 Dec 2017), reveals a company where, were it not for one new major customer, the remaining business would have demonstrated declining revenue and profit.
- By Tom Winnifrith |
- 28 June 2018, 08:25 |
Tandem Group – AGM Statement, there’s trading “more challenging” and then there’s…
Writing previously on sports, leisure and mobility equipment group Tandem (TND) in March, I noted I question whether it’s to be profit warning ahoy down the line and was thus cautious. Today an AGM update…
- By Steve Moore |
- 28 June 2018, 06:46 |
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Greene King - come on Ing-ger-land!
The numbers from Greene King (GNK) today are pint glass half empty or half full as per your inclination. The good news is that the attractive 5%+ dividend yield is held and covered by cashflow generation. Additionally those wonderful attributes for a pub group - sunny weather and a World Cup - have helped out. As the company notes itself: 'positive momentum has continued into the new financial year, aided by good weather and popular sporting events'.
- By Chris Bailey |
- 28 June 2018, 02:35 |
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Updated: Filthy Forty Walcom Group warns it is in big trouble. Get out now!
This morning ShareProphets AIM-China Filthy Forty play Walcom Group (WALG) issued a trading statement. Given that its interims are due by tomorrow, that does not look good – indeed, I wonder if the numbers will not be forthcoming and a suspension will follow.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 28 June 2018, 02:08 |
Another Winnileaks scoop: Julie Meyer impersonates an ex employee on WhatsAapp to say how well Julie Meyer is doing
Is there anything Julie “lingerie on expenses” Meyer MBE will not stoop to do? I begin to wonder as yet another shocker lands with Winnileaks. This is from 17 April 2018 as Meyer is desperately trying to raise money but is yet to fess up to her mounting regulatory and legal problems in Malta which will soon see her lose her licenses to run funds there.
- By Tom Winnifrith |
- 28 June 2018, 01:47 |
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First Derivatives & scandal plagued KPMG Belfast – this is all too cosy: Sell
I am the last person to berate the fine folks from my family’s ancestral homelands of the Kingdom of Ulster or indeed the modern day province. SUFTUM is what I say as I wake up every morning to retweet - with my own comments - @onthisdayPira . But some communities are just perhaps just too tightly knit, too cosy. I refer to the accounting arrangements of First Derivatives (FDP).
- By Tom Winnifrith |
- 28 June 2018, 01:47 |
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SHOCKING: Julie Meyer and Finance gopher Steve Piper backdate share transfers to tidy up Ariadne (after administration)
Another email arrives at Winnileaks which shows how Julie "Lingerie on Expenses" Meyer is, not for the first time, running rings around Andrew Duncan of Leonard Curtis who is supposed to have had sole charge of Ariadne Capital Limited since it went into administration on 18 December 2017. But laws are for little people. Julie and her finance gopher Steve Piper were still taking decisions for Ariadne, moving assets out of it and backdating documents to cover their tracks well into 2018. Is Mr Duncan aware of this? Well I have made sure he is now. Surely this is a crime, in this case a £4.5 million one.
- By Tom Winnifrith |
- 28 June 2018, 01:44 |
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Avesoro Resources - strong performance is set to continue: the shares are a buy
It often pays to be wary of companies that haven’t lived up to expectations in the past, but there are exceptions to that if the company fundamentally changes, especially if conditions in the market in which it operates also improves at the same time.
- By Gary Newman |
- 28 June 2018, 01:22 |
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Woodford’s unheralded cash-guzzlers Part 1: More cash please, Neil
It’s undoubtedly been a good week for Neil Woodford, with the Autolus IPO getting off to a flying start and I also sense the Stobart tussle is moving in his direction too. Nevertheless, as I’m still in a grump about his shoddy debt non-disclosure last week, I thought I’d have a look through the Woodford Patient Capital Trust (WPCT) portfolio to see what else I could find as he’s always banging on about unicorns hiding in there somewhere.
- By Cynical Bear |
- 28 June 2018, 01:22 |
Surface Transforms – reckons placing “following recent investor demand”. I suggest bullshit
Writing earlier this month on Surface Transforms (SCE) I warned argues “these results are encouraging”… but looks to be firmly heading to cash crunch ahoy AGAIN!. Now it is “pleased to announce that it has successfully placed 9,000,000 new ordinary shares… at 17 pence per share, raising gross proceeds of £1.53 million”…
- By Steve Moore |
- 28 June 2018, 01:14 |
More Reflections on One of the Most Maddening Stocks in the Summer Share Garden
Hello Share Twingers. As I'm on the road, I lack my usual research resources. So I'll take the opportunity to review a few philosophical thoughts on that most difficult of shares: IQE (IQE). I'm attending the 50 year celebrations of BBC Radio Leeds, where I was shocked to find that two of my old friends didn't remember me at all. So sad. Dementia I fear.
- By Malcolm Stacey |
- 28 June 2018, 01:07 |
Xaar – below expectations sales & little visibility… but still “expect full year profit to remain in line with our expectations”?!
Previously writing on Xaar (XAR) in November it was “shortfall against previous expectations… largely from fewer than planned new printer installs of Xaar's 2001 Printhead, and slower than anticipated ramp up of the Xaar 1201 Printhead due to supply constraints”. Today a further trading statement…
- By Steve Moore |
- 27 June 2018, 08:20 |
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Advanced Oncotherapy – FY17 numbers, cash comes in but still to need a fundraising
AIM-listed Advanced Oncotherapy (AVO) released its FY17 numbers this morning. Looking through the numbers presented it is clear that the company was running on fumes last December. We are told that the company is in a stronger financial position since 31st December 2017 having secured £33.3m of financing post period end, but I wonder how much stronger?
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 27 June 2018, 08:15 |
Crawshaw – ‘AGM Trading and Strategic Update’, you were warned…
I most recently warned on shares in self-styled “the UK's leading value butcher”, Crawshaw Group (CRAW) HERE. Today an “AGM Trading and Strategic Update”…
- By Steve Moore |
- 27 June 2018, 05:30 |
Polymetal - mining sector shocker: underpromising and overdelivering
Tuesday's update from London-listed, but Russia-focused, gold and silver producer Polymetal (POLY) was unusual in a couple of respects.
- By Chris Bailey |
- 27 June 2018, 04:30 |
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Tom Winnifrith Bearcast: Sorry I made a mistake yesterday
The mistake in yesterday's podcast was on Telit (TCM). In fact it is even worse than I thought! The good news is that sponsorship of the walk I'm doing with Brokerman Dan for Woodlarks has now topped £9,000. I explain here why this walk makes the difference between Woodlarks having to cut services or carry on, please do give a tenner today. This afternoon sees Joshua and I on another training walk, my second in two days. Think of my pain and COUGH UP HERE. In a long bearcast I predict that, after today's shocking news, FastJet (FJET) will be sold for £1 and explain why. I look at Havelock Europa (HVE), 88 Energy (88E), Lyin' Steve Sanderson's UK Oil & Gas (UKOG), Frontera (FRR), Andalas (DOG), Mysquar (FRAUD) and Audioboom (BOOM).
- By Tom Winnifrith |
- 27 June 2018, 03:37 |
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Update on Tesla - still a Short
Two months ago at the UK Investor Show, I tipped Tesla (US - TSLA) as my top short for 2018 at $300. The shares are now 11% higher than that having touched $370 in the interim, so my timing has not been great and for that I apologise. Nevertheless, I still believe that, despite it being a crowded trade, and despite the fact that Elon Musk still enjoys unquestioning support from his cult followers, the company faces existential threats which could overwhelm it in short order and it is therefore the right thing to maintain a short position.
- By Lucian Miers |
- 27 June 2018, 02:45 |
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Crack out the Ouzo at Sheriff of AIM Towers: Fastjet shares crash as potentially terminal cash crises emerges – feck you Citigate
I guess the journalist smearing bastards at Citigate Dewe Rogerson might be about to lose another retainer. Their response to my probing of the financial woes of their poxy client FastJet (FJET) was to threaten and smear me. Fuck you Citigate. Now Fastjet has ‘fessed to just how grim things are. It could be tits up time by the weekend. Crack out the ouzo, let’s celebrate. I shed no tears for a company that stands by the actions of scum like Citigate. And I warned shareholders often enough what financial fate lay in store for FastJet.
- By Tom Winnifrith, The Sheriff of AIM |
- 27 June 2018, 02:28 |