A short bearcast because of the family situation flagged up yesterday. I start with the election of Theresa May which seems to have pleased the markets BUT NOT ME!. Then I look at Orchard Funding (ORCH), IGAS (IGAS), Avanti Communications (AVN) and Golden Saint Resources (GSR)

AIM-listed cancer-buster ValiRx (VAL) has its EGM today at 11.30am at the offices of DAC Beachcroft LLP, 100 Fetter Lane, London EC4AS 1BN. After shareholders voted to reject a resolution to disapply pre-emption rights at the AGM a couple of weeks back, the company has called a new gathering at which shareholders are being asked to vote on it again with management hoping that this time the shareholders get the answer right. Heck, it works for the EU, so why not here? Update - motion passed, shares down.

Today's assassination with a pen from Zac Phillips at SP Angel is on Premier Oil (PMO) with a stark warning that things may be an awful lot worse than any share price rally might imply. Ouch. Zac writes:

I am happy to congratulate flip flop Ben Turney. Of course he remains a clown capable of bollocksing up much in life but yesterday he claimed notable scalps as three disgraced, discredited and utterly shite directors of New World Oil & Gas (NEW) walked the plank with immediate effect and that is down to Flip Flop.

In a market filled with companies that have wasted a small fortune and haven’t got a lot to show for it, Frontera Resources still manages to stand out from the rest as having taken both to a new level!

Having pissed on private investors (followed a results statement noting “a position of strength” and “great confidence” and the announcement of a “Significant Contract Win” with a discounted fundraising), Lombard Risk Management (LRM) has further updated...

With the Euros coming to a close, it’s appropriate to assess the performance of the Sub-Standard Shockers XI over the last month or so. Well, you know it hasn’t gone well when the best performers are those that have been in suspension for the period.

As predicted HERE ShareProphets AIM-China Filthy Forty play Eastbridge Investments (EBIV) had its one-way trip to the AIM execution chamber last night. It becomes the twenty-first AIM Casino departure on the Filthy Forty. There are more to come, it is just a matter of time.

Oh dear, this is the end for you my friend....Avanti Communications (AVN) has announced a "strategic review". In other words it has admitted that it s well and truly fecked. Shareholders should, whatever the weasel words of the RNS, prepare for wipeout. This is - as we pointed out in a 25 minute presentation at UK Investor Show, a zero. The statement is typical King of the Bombast David Williams horseshit.

There were thirteen entries in the final Malcolm Stacey caption contest as you can see HERE. Thankfully Getafix is back from his time with the Quacks and normal service has now resumed. The winning caption for the picture of the nice young lady below came from Backwoodsman and is:

This is so shoddy. As I have pointed out on a number of occasions, Cloudtag (CTAG) has negative net current assets and is burning cash. Hitherto it has managed to persuade mug punters to buy into placings done at a premium to the prevailing share price on the basis that there was lots of jam tomorrow.

Hello Share Scrummers. In my humble opinion, British banks are among the biggest bargains in Shareland at the mo. Though I was in two minds about foisting this opinion on you, as banks have a marvellous talent for letting us down. They’ve been doing that steadily since the big crashes of 2007 and 8. But I really do think the shares have been oversold since the result of the Brexit vote. They fell a heck of a lot. Without their failure, the Footsie which eventually rocketed on the decision to leave the EU, would have been near the elusive 7000 level by now.

In a final two-fingered salute to the Casino, Cyril D’Silva has informed AIM-listed POS Golden Saint Resources (GSR) that he is off to spend more time with his classic cars, and detailed some share transactions incredibly late: so long, and thanks for all the cash...

Carbon ceramic brake discs company, Surface Transforms (SCE), has announced a “Pre-Production Technology Development Agreement”, including “expected annualised revenues after start of production reaching approximately £10m-£12m on mature volumes”. The shares are currently up approaching 9%, to 18.75p, in response. Hmmm – let’s take a look…

Once again the angry young man of the world orf oil analysis, Mr Zac Phillips has plunged his pen straight into the back of the management of a listed company. This time it is Aminex (AEX) which gets it with both barrels from Zac. He writes:

Shares in Swallowfield have bounced more than 5% today after a positive trading update which suggests that profitability will be “towards the upper end of expectations”. This looks like another high-quality AIM stock which doesn't get the attention it deserves.

Jam tomorrow producer Bango (BGO) has served up a ramptastic trading statement which distinguishes itself by missing out all of the metrics a sane investor would want to know about. Lads, Ronan understands.

Having been rising nicely from a start-of-the-year sub 3p, this recent trend in the shares of Goldplat (GDP) has been de-railed somewhat currently today on the back of an announcement which includes that “the company is not yet in a position to advise whether its annual results for the year ended 30 June 2016 will be in line with market expectations”. Hmmm…

You have to admit it is really quite amazing. Two weeks ago, Central Bankers and leading politicians were exclaiming that if Britain left the E.U. it would be a catastrophic economic event on the magnitude of a “Lehman “moment. However, despite all of the talk of gloom if you had been asleep over the last month you wouldn’t know something had happened, other than sterling collapsing. 

A few words on logistics then after today's debacle at Highlands Natural Resources (HNR) I explain why the shares are worth just 3p (or less). Then it is onto PCG Entertainment (PGCE), Jiasen (JSI), Belfort Securities and its morality vacuum, Tungsten (TUNG), Onzima (ONZ), IGAS (IGAS) and Solo (SOLO). Finally, more than a few words about Advanced Oncotherapy (AVO)