Hello Share Grinders. The falling pound always seems like a disaster. And It is to holidaymakers and students who are studying broad, like my daughter at the moment. But there is no need to be glum if you are a shareholders. There’s no doubt in my mind that the current soaraway Footsie is because we have brilliant companies over here. Not!!
Why is the FTSE 100 going up? Ask my friend the IRA man about his new mountain jacket. Elsewhere I look at Tern (TERN) and make a general point or two, at Iofina (IOF), Progility (PGY) and at Sports Direct (SPD). Capitalism is always the most efficient regulator not the State.
When Cloudtag (CTAG) blows up, which it clearly will, it will be easy to blame the insiders: the original founder Andrew Regan, the current CEO Amit Ben Haim and his associates, Golden Bridge Services Ltd and Preciousbluedot, owners both of large amounts of well -in-the-money warrants. That is what invariably happens. But it would be wrong.
Having in August announced, for its year ended 31st July 2016, “unaudited revenues in the year were £1.9 million (FY 2015: £2.0 million)”, Nanoco Group (NANO) has now made an “Update re Unaudited Revenues” announcement just days before its scheduled results announcement. Hmmm…
May and June 2015 was a time when Teathers Financial (TEA) was awash with cash thanks to an April placing. The only question was how quickly could the company's directors spend it? There was the shooting party and the General Election party but more was needed and on 29th May, the Friday before a bank holiday weekend folks were getting mighty thirsty.
Having joined industrial supplies distributor Brammer (BRAM) as CEO on 1st August, Meinie Oldersma has purportedly “been impressed by the market position and the expertise and the quality of people the group has built over the last few years”. However, the shares are currently more than 30% further down, at 87.5p, on the back of the “Update on Q3 Trading and Financial Position” announcement. Hmmm…
The Crowd Funding bubble is yet to claim a high profile casualty but after a long strong of business disasters, not least investing £33 million of other folks cash with Bernie Madoff, could the self proclaimed "Superwoman" Nicola Horlick deliver the first big disaster with Money&Co? Yesterday I documented two very odd ways that cash raised from investors was heading to La Horlick, the dodgy £50,000 gift (oops I mean loan) HERE and the Bramdean payments that don't add up HERE. Now let's look at the accounts of Denmark Hill, the owner of Money&Co.
Anyone who was buying shares over the last few days in AIM-listed jam-tomorrow investment company Tern plc (TERN) has just been spanked in pretty spectacular style this morning. With the shares having traded as high as 14p just last week, this morning saw a placing to raise £2.55 million (gross) at a whopping 36% discount to yesterday’s closing bid price – and a 50% discount to the peak of last week. Tern seems to be in a bit of a downward spiral with regard to its confetti issues – the previous two placings were at 8p and then 12p.
Kosovo and the Balkans region-focused marble company, Fox Marble (FOX) has announced participation in a “landmark venture formed with the Kosovo Government” aiming at “a world class new stone industry for Kosovo” and “a much wider marketing, sales and distribution platform” for Fox…
Shares in “SaaS technology company that validates and redeems digital promotions in real-time for the grocery, retail and hospitality industries”, Eagle Eye Solutions (EYE) have recently been on the rise – with recent announcements including a share purchase by CEO Tim Mason and results for the company’s year ended 30th June 2016 including “overall the board is pleased with the significant progress made”. Sounds interesting…
In my humble view, now could be a good time to return to oil shares. I certainly hope so, as I have lost a packet since the big oil crash which began a few years ago. I’ve gradually dumped my holdings in the hopeful explorers, but I still have major holdings in the big producers, like Royal Dutch Shell (RDSA), BP (BP.) and Tullow (TLW). All of them are well shy of their previous bests.
The major international distributor based in a shed in Blackpool Second Chance has finally filed its accounts for the year ended 31 January 2016 with Companies House and they show quite evidently that the deal with it announced by AIM listed fraud Cloudtag (CTAG) is sheer fantasy.
Writing on Bond International Software (BDI) last month post an announcement that, having previously been “pleased to announce the sale of its Recruitment Software subsidiaries” to US private equity group Symphony Technology, it was now instead recommending a 115.5p per share takeover offer from largest shareholder Constellation Software, I concluded that it looked worth those in here continuing to hold. This was as the downside looked limited, but there remained the potential for some further upside – and there have since been further developments…
It is not that she wishes me to lose a few llbs, it is that she wants me out of the house so that she and young Joshua can watch rubbish on the TV without me sneering. In that vein I bring you this podcast but also another on why the Tory conference nauseated me (HERE). At a company level I look at President Petroleum (PPC), Wandisco (WAND), Agrittera (RUN A MILE), Cloudtag (CTAG), Fastjet (FJET), EasyJet (EZJ) and the bankrupt fraud Servision (SEV),
I almost spat out my cornflakes with laughter at the ridiculous announcement from Life Science Developments (LIFE) this morning as it entered suspension pending an RTO with The Diabetic Boot Company (“DBC”). Please allow me to explain.
The world still hates small oil stocks. We are not sure when that will change but given how many of the mid caps are collapsing either entirely (Afren) or surviving only via schemes that see shareholders almost wiped out ( XCite, Gulfsands, Gulf Keystone, IGAS, LGO, etc, etc) we feel we could be at a Burmah Castrol moment. Do a google search if you are too young to understand the reference!
While the self proclaimed "Superwoman", the City's most sanctimonious person Nicola Horlick tries to explain away the dodgy £50,000 loan of other folks cash made to her personal dormant company Bruton (HERE), let's now look at how much cash heads to Nicola via route B, Bramdean.
Having soared towards 60p in August, shares in SRT Marine Systems (SRT, formerly Software Radio Technology) are currently around 8% lower today, at circa 40p, on the back of a “Half Year Trading Update” announcement. Hmmm, let’s take a look…
Nicola Horlick, the most self important person in the City, who dubbed herself "Superwoman" is these days running a Crowdfunding operation called Money&Co. I shall turn to its woes later today but suffice to say that between its inception on 10 June 2013 and March 31 2015 (the last published accounts) it had racked up losses of £4,056,267 - money that had been stumped up largely by outside investors beguiled by La Horlick. But before we turn to that car crash in waiting, there is the little matter of £50,000 that Nicola needs to explain away.
On Thursday 29 September 2016 at 10.41 AM Wandisco (WAND) boss Dave Richards resigned. Or so we were told. The RNS prepared by Non Exec chairman Paul Walker (who agreed to take a massive pay hike and go Exec) stated that Richards was "stepping down.". No reason was given. In fact Richards had been fired by Walker, head of the "Sage crew" within the firm who had been battling Richards for a good while, the main issue being costs: Richards ( the founder) wanted restraint, the men from the "big company" had other ideas. Today Richards was reinstated. It gets better still and more farcical.
In this bonus podcast prompted by recent events at African Potash (AFPO) and ADVFN (AFN) I look back on other bouts of market insanity. There was the radio boom of the 1920s and the dot com boom of 1999-2001 but is the blockchain bubble at 1999, 2000 or 2001? Among the companies also mentioned are On Line (ONL), Vela (VELA), Milestone Group (MSG) and Coinsilium (COIN), where we have a small holding. Madness, my friends, is in the air.
Last month the Jupiter Merlin group which, at one point, had £942 million invested in funds managed by Neil "nomates" Woodford announced that it was pulling out its last monies. Now another big investment group has given up on Britain's most self important fund manager. Aviva, one of the largest savings providers in Britain, has had enough.
Shares in Angus Energy (ANGS) have plunged by 36% to 17.125p today after news from the Lidsey Field which cannot be described as anything other than disappointing. Hope meets reality. At some stage the same process will see shares in UK Oil & Gas (UKOG) crash. Let's start with Angus.
I start this podcast with a look at Carillion (CLLN) where I wonder if Steve's damning verdict HERE is just a bit too generous. The boy is too much of a nice guy for his own good. Then it is onto the FRC which will be writing to 40 AIM and Small Cap companies ahead of them publishing FY numbers. I have a few ideas who and on what areas. The FRC are of course the UK's best regulator if only for recognising the work of the UK's top investigative financial journalist. Then I look at Angus Energy (ANGS) and finally there is a detailed discussion on MySquar (FRAUD)
Whilst many private investors go chasing rainbows and hoping for one of their oil and gas exploration plays to hit black gold, there are actually a number of AIM listed outfits which are already producing, yet don’t seem to be as popular as they are unlikely to generate large share price rises overnight.
Malcolm outlines a strategy today for playing AIM Casino stocks which I regard as folly. I explain why it could go disastrously wrong in two ways. Then I look at the wider asset bubble in relation to art, soccer players, real estate and new media and how that impacts on the stockmarket and will, in due course, implode.
This is the time of year when I ask you to consider making a small donation to ensure that folks far less fortunate than we all are enjoy some real joy this Christmas. Woodlarks is a charity with whom I have worked for years. It provides a one-off service: full holiday acccomodation for those so severely disabled that they would otherwise not get such a break.
I know sweet FA about GCM Resources (GCM) so you are on your own on this one. It has just announced an Underwritten Fundraise, to raise up to £2 million at a subscription price of 34.4p per Ordinary Share - via Primary Bid. This represents a discount of 20% to the closing mid price on Friday, 17 November, 2017. You can sign up and take part, if you wish, HERE
Once a year the Mrs allows me to give a lecture to her sociology students at Bath Spa University. Around 70 attended and and I did not hold back. My lecture was recorded as were the slides. Enjoy!
Carillion (CLLN) topped the top shorted London-listed shares at the start of 2017 (recent performance update HERE) and remained so in our Autumn update HERE. Having commenced the year above 235p, the shares had slid below 200p before a July profit warning, business review and Chief Executive “stepped down” announcement. They are currently down from above 40p to below 30p today on the back of an “Update” announcement…
I suggested last week that the time had come for oil stock promotion UK Oil & Gas (UKOG) to come clean about its financial position and update the market on where it stood on its flow testing at Broadford Bridge. I suggested the shares were a sure fire short at 4.6p.
Hello Share Pinchers. There are times while trading shares when one can consider suspending logic. One mistake a short-term trader can make is to expect strong balance sheets to always send share prices flying. Successful investors have a secret which is now’t to do with a firm’s fundamentals.
Actually I am in Greece on December 4 or at least on my way home after the olive harvest. But, in return for a small donation to Woodlarks, I have agreed to record a video from the Greek Hovel with a few market thoughts and a couple of share tips for Christmas.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
React Group (REAT) admitted last week that it would miss forecasts for the year to 30th September. It states that the unaudited numbers show revenue of around £2.65 million and a pre-tax loss of around £400,000.
This entertaining farce (for the neutral at least) at BOS Global (BOS) moved on a step yesterday with the ex-CEO, Michael Travia, making his move to give him a shot at the assets, most notably the 40% stake In Call Design, but I’m not convinced that it will be as easy as he hopes.
SRT Marine Systems (SRT) has announced results for its half-year ended 30th September 2017, stating “steady financial progress broadly in line with our expectations and significant operational and project related activities” and “look forward optimistically to the second half”. Sounds encouraging…
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