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The great bear raider Wassem Shakoor has termed Frontera (FRR) as one of the three most overvalued bits of crap on AIM. Another is MySquar (MYSQ) where Lucian Miers has just published a devestating expose HERE. Back to Frontera where Waseem has stuck it to the Bulletin Board Morons today. He writes:
Sadly it looks as though AIM-listed Cloudbuy is entering the final chapter of its life as the last tranche of funding from white knight investor Roberto Sella has been drawn. The implied cash-burn suggests that in the absence of big-time delivery of revenues (something oft-promised, but never delivered so far) a crunch looms.
It seems to be perfectly acceptable for companies on the Casino to complete fundraisings inadequate to see them solvent. Yesterday at 4.22pm shares in AIM-listed Redx Pharma (REDX) were suspended “pending an announcement” by AIM Regulation (the RNS following at 4.35pm – bit of a rush there fellas?) At no-one-is-watching o’clock (6.35pm: after-after-hours) the company announced that administrators had been appointed - just 3 months after the company had apparently raised £12 million in a placing and open offer. Coke and hookers all round for the Nomad and Brokers concerned. Stale bread and water for those sold this particular pup.
Results announced by 1Spatial (SPA) for its year ended 31st January 2017 are disappointing – though we previously stated they would be and note new management’s current year objective “to ensure that we generate cash and profitable adjusted EBITDA, as well as follow through on key strategic initiatives… Early trading in Q1 2018 has been strong”.
A “Pre-close FY17 Trading Update” announcement from Tungsten Corp (TUNG) sees CEO Rick Hurwitz claiming “Tungsten made remarkable headway in fiscal '17”. With the shares responding, er, more than 3% lower to 66.25p, the following reviews...
Hello Share Ticklers. The old memory doesn’t get any better as I motor towards the end of life’s great highway, but I don’t think I've looked at IMI (IMI) here before.
PhotonStar LED Group (PSL) CEO James McKenzie commences his comments on 2016 in the company’s results announcement that “steady progress was made in transitioning the group into becoming a retrofit connected lighting and building management business. We have installed a number of trials in a variety of sectors”. Sounds promising, so why are the shares currently 7.5% lower, at 1.85p, on the back of the announcement?...
This is a major fund raise by FlowGroup (FLOW). It has most of it in the bag and will raise up to £29 million. This is institutional territory but it is - very decently - letting in Private Punters via PrimaryBid with an offer announced at 5.12 PM today and which closes at 9 PM tonight. The up to £4 million being raised is being done at 1p - the shares closed at 1.1p-1.15p. But this is not a party for spivs and flippers this is a proper City fundraise which FOR ONCE you can take part in - but hurry, the deadline is 9PM TONIGHT SIGN UP NOW HERE
The world's best known resource group Sprott has published its monthly report and warns again that those with no gold exposure will lose out big time. Analyst Troy Reik writes:
Arron Banks is a big UKIP backer as is his pal Jim Mellon, although the old asset stripper of Uramin infamy is not actually allowed to vote in the UK as he lives offshore in the Isle of Man. Private Eye this week looks at how the two men have not exactly prospered by backing the underperforming, sub scale, IOM-based, AIM-listed, bank Manx Financial (MFX). It also questions whether Banks is as rich as he claims. Enjoy...
Strat Aero (AERO) the AIM casino listed company that under a former management team repeatedly lied to investors is still a joke. In January and February of this year it raised $1.23 million gross (call it $1.1 million net) promising that 2017 would be a turnaround year. One would hope so - in 2016 it lost c$3.5million. So how is it going? Not well I suggest, judging by a joke RNS today.
I reckon that shares in gold miner Altyn (ALTN) are cheap as you can see HERE. Last week the company did a two day City roadshow (not raising cash) in which it gave a full presentation to fund managers. But why should the City boys & girls playing with other folks cash be the only ones to see the presentation? In that spirit...
Katoro Gold (KAT) was once the joke stock Opera Investments which did appear "accident prone". But it has now had the gold assets of Kibo (KIBO) injected into it, done a fund raise, moved to the AIM Casino and is, apparently, a whole new beast. House broker Beaufort has published a detailed note explaining why the shares should soar from 5.25p to 11.7p. I should note that Kibo retains a 56% stake in Katoro and we own a few Kibo shares.
AIM-listed Advanced Oncotherapy (AVO) has this morning announced another conversion of death-spiral loan notes by Bracknor. That is not news – there have been plenty already and there are many more to come. But for the third time in succession we seem to have different terms being applied. Surely it is time for the company to tell the market what is going on?
My last piece rather naively thought that Echo Energy’s (ECHO) new institutional equity investor, Spartan Fund, or Pegasus Fund as it became, would want to put its funds in at a fair valuation and thought the share price would go down. I was wrong and must assume that it is all part of the connected group of institutions and individuals here that have led to an insane valuation that appears to indicate that the mere mention of James Parsons is worth £100 million. That is nonsense and this is a massive sell.
There are plenty of companies on AIM where it is hard to see where the value is and why private investors are so keen to chuck their savings into the shares, and BOS GLOBAL Holdings (BOS) would certainly seem to fit the bill!
Hello Share Crunchers. I hold stock in an awful lot of oil producers, perhaps too many. But one company which has never lit my fire is Cairn Energy (CNE). Maybe I should dip in, though.
Aeorema Communications (AEO) has followed a 12:43pm profit warning ah sorry, “Trading Update” announcement, in December with a 1:01pm “Trading Update” announcement today. I’ll give you whatever odds you want on this being good news…
Take a look! European investors are clearly failing to grasp the very significant financial and commercial benefits available for Orphan or Rare Disease drug developers. So much so in fact, that sector-focussed Amryt Pharma (AMYT) finds no quoted peers in London, yet a good basket of NASDAQ-listed comparables are seen to command a significant premium despite mostly being pre-revenue and somewhat earlier in their development. Such anomalies can and, of course, do rapidly correct.
Any reader of my pieces will know I hold Challenger Acquisitions (CHAL) in pretty low regard but the outrageous ramping that has now gone on for the last four trading days is an absolute disgrace and the FCA should take a look. I’ll explain.
Ok miserable bastards. I have a train walk with Joshua tonight, a very long one on Sunday ( to Chew I think) and then the big 32 miler in just eight days. So donate to Woodlarks NOW! HERE. In the podcast I look at ersarien (VRS), Optibiotix (OPTI), Big Sofa (BST), Sosandar (SOS), Audioboom (BOOM), Wh Ireland (WHI), Symphony Environmental (SYM) and Feedback (FDBK)
I travel Easyjet (EZY) often. In the winter it is Bristol to Athens and back, in the summer it is Gatwick to Kalamata and back. Usually it is no worse and no better than any other budget airline. Not that I really care but I just want to point out a quite obvious scam it inflicts on its passengers.
Thank God for small mercies. Now we can start a rota on who has to listen to Brokerman Dan blathering on about blockchain and what a frigging genius Clem Chambers is. For now there is a third rogue blogger joining us as we walk the 32 miles from Horse Hill to Woodlarks on July 28. He is a man who knows Horse Hill well…
Okay the video is from blowjob TV that is to say Proactive from yesterday and thus the interviewer makes Zak Mir look like Jeremy Paxman. But, remembering that chairman Davidson has a reputation to lose, take note of what he implies about buying even more shares and also about deals not yet announced. His quiet confidence is clear and that is why even at 86p-88p you would be certifiable if you sold. We certainly will not be at anywhere near this level.
The management of Falanx (FLX) are nice guys but do themselves no favours. Issuing, albeit small amounts, of shares at rock bottom process for small itty bitty acquisitions is rarely a strategy that is value accretive. Delaying your results does not impress anyone although the company has a plausible excuse. Doing a major placing at 4.5p when not long before your shares were 9p really f**ks off we loyal shareholders. Suffice to say, the statement accompanying those results in a couple of week’s time is going to have to be pretty hot.
I called AIM-listed Sosandar a buy at 13p, moved to hold at 20p and suggested taking a slice of money off the table at 25p (I got over 27p). I still hold a shade over 75% of my holding so I’m still long, but the shares have moved up further to close yesterday at 32.7p, having peaked at 34.7p. So perhaps I was wrong to be such a coward and cash in so quickly. But I am deliriously happy, with a good chunk of my original stake banked, a whopping profit on the rest and seemingly plenty more to come.
As we all know, Frontera resources (FRR) is out of cash. It is running on fumes. It is desperate to pump the stock any way it can to get away an emergency placing needed to survive. The only question is how big a discount will the bucket shops demand. It is against this background that it released a dismal operational update yesterday. Only a fool or a paid ramper like the whore Blogger, fat bastard, aka Malcolm Graham Wood would describe it as anything other than the usual shite.
It is easy to dismiss Versarien (VRS) as just another overhyped AIM stock but, as today’s results show, that does not do it justice. It is currently in a class of its own. In fact, I would say you have to go back more than a decade to Pursuit Dynamics to find something with a valuation, pound for pound, as unhinged as this one.
Payment platform company, Bango (BGO) has updated “on trading for the six months ended 30 June 2018”. This commences “End User Spend (EUS) continues its four-year growth trend of at least doubling every twelve months. The total EUS for 1h2018 was £220m compared with £92m in 1h2017, and £271m for all of 2017. As in previous years, EUS in the second half of the year is expected to be significantly higher than in the first”. Er, ok – but that is not about how the company is trading. What about financials?...
Previously writing on online electrical retailer AO World (AO.), I noted a trading statement argues progress but questioned the valuation. The shares have since risen to 180p before falling back somewhat - and are currently at 145p on the back of an AGM trading update…
Oh dear, oh dear, the cutlure of legging over regulators with false submissions at the Ariadne ponzi scheme headed up by Julie "lingerie on expenses" Meyer seems endemic. In this email thread below followed by the filing submitted by Meyer herself we see Malta employee Chris Cachia and ex in house lawyer Peter Bradley discussing how to avoid financial penalties for Ariadne in Malta by not telling the truth about the date a key officer, Peter Hale, actually resigned. Natch I have passed this on to the MFSA for it to consider as part of its ongoing and wide ranging investigatiuons into Ariadne and Ms Meyer.
Hello Share Pickers. I've ventured to suggest recently that airline shares may be a bit too risky at the mo. It's the headwind of the rising oil price that puts me off. You'd be amazed at the huge volumes of the ebony nectar they devour to keep a million passengers aloft at any one time.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2017 and thus far in 2018 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
Last year I concluded that shares in financial advisory group, Lighthouse (LGT) could prove good value at 11.75p and that the valuation continued to look undemanding at circa 14p. I updated earlier this year at 24p, suggesting that the valuation fair enough at this juncture – though now write again with the shares currently further higher, above 37p, on the back of a trading update…
Another day, another release from fraud Follie Follie to the Greek Stock Exchange and, as we all suspected, it is the bogus Chinese operations that were at the heart of this fraud.
We tipped shares in the then Molins, Mpac Group (MPAC) at a 125p offer price in June last year. They recently returned above 200p, but now have been hit by a half-year trading update…
Hello Share Takers. So that upmarket clothes manufacturer and seller Burberry (BRBY) has been destroying its own stuff. It burned clothes, perfumes and other items to the tune of £28 million pounds in 2017. Why?
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