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Versarien Annual Report out: what it was hiding part 1 – the heroic Graphene growth assumptions supporting nil impairment
Finally, a week after publishing dreadful results Versarien (VRS) has published its full annual report for the 18 months to 30 September 2022. When this company goes bust, what it was hiding will be used to drag it and auditors BDO through hell and back, via the FRC. The main issue is goodwill and the balance sheet but there is also the pay rise loathsome Neill Ricketts was given.- By Tom Winnifrith, the Sheriff of AIM |
- 28 February 2023, 13:11 |
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Aquis Lobster-Potted TruSpine Comedy Continues: The £200k Arrives…..From A Third Party
TruSpine (TSP) - the spinal product shambles on the Aquis lobster-pot - told the market on 3rd January 2023 that a £200,000 bridging loan was “available immediately” but did not arrive in January at all…..or February. The company has now announced that a third party has stumped up £200,000 in addition to the bridging loan facility and non-binding letter of intent for equity financing. Oh, and the CEO has (or has been) resigned (but remains with the company). Red Flags for breakfast, anyone?- By Nigel Somerville |
- 28 February 2023, 13:09 |
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BREAKING: Powerhouse Energy – surely this is cut and dried industrial scale market abuse
Not revealing shareholding changes via a TR1 in a timely fashion should be a criminal offence but is not. It is – in my view wrongly - treated rather like picking your nose and swallowing the bogies in public, as naughty but not serious. And thus, the rules are widely ignored and abused. Yesterday Howard White and his two sons ‘fessed up to ignoring the rules with regard to dumping Powerhouse Energy (PHE) shares. But old Howard is also guilty, in this case, of market abuse. This is black and white and the FCA really should act.- By Tom Winnifrith, the Sheriff of AIM |
- 28 February 2023, 13:06 |
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BREAKING: Canadian Overseas Petroleum - the unexplained collapse in January output it is NOT telling you about
The bear case as outlined here is already compelling. But the table below from the Wyoming Oil & Gas Commission serves up data on Canadian Overseas Petroleum's (COPL) January output and that suggests an alarming decline which cannot be explained solely by bad weather.- By Tom Winnifrith |
- 28 February 2023, 12:06 |
CAP-XX – interims, for how long is the funding sufficient now?
Previously writing on company describing itself as “a world leader in the design and manufacture of thin, flat supercapacitors and energy management systems” CAP-XX (CPX), last month with the shares down to 3.4p I noted “current funding is sufficient for the company's expected needs”… For how long though?. Today results for the company’s half-year ended 31st December 2022… and the shares currently further down to 2.6p.
- By Steve Moore |
- 28 February 2023, 11:44 |
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Why I am happy to keep on avoiding AO World and Ocado shares (and more)
I have two disclosures to make today. The first is that I have just purchased a new computer. It won’t surprise to know that it is yet another ASUS Chromebook and, after a thorough review of all the potential sellers out there, I purchased from Currys (CURY) and not its competitor AO World (AO.), which I see offered the hope of a profits upgrade in its update today.- By Chris Bailey |
- 28 February 2023, 10:29 |
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The cost of smoking by country - there are some great smuggling arbs here
A pack of 20 costs 25.43 Euro in Australia. Who on earth can afford to smoke down under. Given that a packet of 20 is only 2.11 Euro in Indonesia I can see a great arb if you have no qualms about breaking the law. I bet there is a roaring trade in "under the counter" fags in Oz. The table below is fascinating.- By Tom Winnifrith |
- 28 February 2023, 08:39 |
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Recent pullback in the dotDigital share price offers a buying opportunity ahead of the interim results
DotDigital (DOTD) is very much outside of my usual sectors, but is a company that I’ve followed for well over a decade, and during that time it has done rather well. So do I buy the shares now? .- By Gary Newman |
- 28 February 2023, 08:23 |
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Tom Winnifrith Bearcast - the problem with sacking people, the 3 xs
No this is not a reference to Darren after the glitch on the earlier bullcast. It is a reference to Versarien (VRS). I explain why today's Umbro based ramping video is just so much hooey and a sell signal not a buy one. Then it is onto young journalists and the problems they face, Jamie Nimmo eulogising Dan Wagner with some PR puffery in the Sunday Times. Finally why Avacta (AVCT) is such a compelling short.- By Tom Winnifrith |
- 27 February 2023, 16:26 |
Deltex Medical – convertible loan notes extension, but still cash concerns?
Medical technology group Deltex (DEMG) “is pleased to announce that the repayment date of the £1.1 million convertible loan notes in the company has been extended from 26 February 2024 to 30 June 2026”. Good news from a 1.15p share price, £8 million market capitalisation?- By Steve Moore |
- 27 February 2023, 16:05 |
Directa Plus – argues recent “strong performance”, but how strong really?
Describing itself as “a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets”, Directa Plus (DCTA) has announced that it “now expects revenues for FY22 to be not less than €10.8m, as a result of a strong performance in December, which represents a c.25% increase on the prior year” and that there is current “robust growth across all verticals supported by a strengthening pipeline of potential opportunities”. So what of a share price presently up to 86p?- By Steve Moore |
- 27 February 2023, 14:54 |
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Tom Winnifrith podcast share tip
This is a bonus podcast. This tip is a share which I expect to more than double within a year and could be a five or even ten bagger on a three year view. And of course I mean the 27th not 25th.- By Tom Winnifrith |
- 27 February 2023, 12:00 |
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Forward Partners – a 2021 IPO dog or a very cheap AIM stock?
The last time I looked at Forward Partners (FWD) , an investment company specialising in unlisted tech plays was on the first anniversary of its AIM IPO, that is to say in July 2022, when I, not for the first time, poured scorn on the enterprise HERE. At that stage the shares had slumped from 100p to 45p. Today after a dismal trading statement the shares are 37p - a £50 million market cap. The 2022 year end NAV was 71p so is this a chance to buy?- By Tom Winnifrith, the Sheriff of AIM |
- 27 February 2023, 12:00 |
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Hercules Site Services – emphasises “support from new and existing investors”, why the placing discount that dare not speak its name then?
Describing itself as “a leading technology enabled labour supply company for the UK infrastructure sector”, Hercules Site Services (HERC) states that it “has experienced a strong start to trading in FY 2023. With this in mind, the net proceeds of the placing will be used to provide working capital to support the continued organic growth of the company's Labour Supply division” and boasts that “the placing received support from new and existing investors, including two of the company's largest shareholders”. So a good price then in relation to a prior close 72p share price?- By Steve Moore |
- 27 February 2023, 11:44 |
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Vast Resources explicitly warns yet another placing needed: only 1?
With the last placing just 21 days ago, serial AIM dog Vast Resources (VAST) has today warned that it will be doing another placing. This is a company that has done more placings over the years than I have had inappropriate thoughts about Cheryl Cole. Yes! That many! And that is one reason why its shares are 98% down over 16 years.- By Tom Winnifrith, the Sheriff of AIM |
- 27 February 2023, 11:02 |
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Bunzl has been a great business for cautious investors after thirty years of rising dividend payments, but…
As a boring (predominately) large cap global investor, it has perhaps been a bit of a surprise that it took me years to warm to FTSE 100 company Bunzl (BNZL), which describes itself as a “multinational distribution and outsourcing company”, which has banged out thirty years of rising dividends. A few months ago, I observed I thought it would be smart to “wake me up if Bunzl shares fall back below a 26 quid price (again)”. That has not happened and today the shares are kicking around above a thirty quid share price. Time for me to get (finally) more excited or not?
- By Chris Bailey |
- 27 February 2023, 11:02 |
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Guild Esports – explaining a material uncertainty statement as it spoofs ahead of the bailout placing
Another day and another ramptastic announcement from Guild Esports (GILD). Of course it is nothing news but that is not the point. As it tried so hard to hide from investors, until I flushed it out on January 31, the company is running on vapours and needs to do a placing pronto (indeed it lied to its auditors and said one was already underway to get audit sign off) to avoid a duet with the Fat Lady.- By Tom Winnifrith |
- 27 February 2023, 10:02 |
This Business Know-How Wizard could Magic Up a Still Higher Share Price
Hello Share Swipers. There are some giant companies not as well known to investors as others. That's often because they deal with trade rather than the public at large. One such outfit is Footsie member RELX (REL).- By Malcolm Stacey |
- 27 February 2023, 08:19 |
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Tom Winnifrith Bearcast: At what point does Flip Flop admit he has failed? Prepping for a Bluebird Meeting
I start with a bit of macro-political stuff but that does relate directly to a) Gary's tip today and b) my muted enthusiasm for UK PLC shares. Then it is onto Kavango Resources (KAV), seemingly moving goalposts to avoid accusations of failure. Finally Colin Patterson of Bluebird Merchant Ventures (BMV) popped in after this recording. FWIW, after the meeting I conclude that the shares are a VERY STRONG BUY.- By Tom Winnifrith |
- 26 February 2023, 16:24 |
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Harbour Energy has great long term potential and is trading too cheaply - buy
If you still see a future for North Sea oil and gas, as I do, then I think Harbour Energy (HBR) is definitely worth a look at the current price, and also has the advantage of having interests in other parts of the world.- By Gary Newman |
- 26 February 2023, 14:20 |