Sam Antar was the finance director at Crazy Eddies, the biggest Wall Street fraud of the 1980s. Sam avoided prison by turning Queen’s evidence (or the US Equivalent). And he has saved his soul by now making his career exposing other fraudsters. In the spirit of Christmas I have some career advice for Laurence Moorse the FD at the fraud Quindell. My letter to Mr Moorse follows.
Having fallen from a year high of 80p to a low of 26p in October, shares in mobile money technology company Monitise plc (MONI) have only recovered to a current 30.75p despite recent announcements of discussions to expand its commercial relationships with Santander, Telefónica and MasterCard, “a deepening collaboration with IBM” and an agreement with Virgin Money “to help develop elements of the bank's future digital banking services”. The following reviews.
Hello Share Funsters. There is a definite pattern to the path of British shares at the moment. It’s a long time since I’ve known their behaviour to be so precise.
Hi we still have a few places left for tomorrow’s Christmas ShareProphets seminar sponsored by Chapel Down. If you are in London and fancy free champagne, Christmas pudding and an evening with Tom Winnifrith and mining guru Amanda Van Dyke topping the bill simply email your name and address to [email protected]
I am in a good mood today. I shall be seeing the Mrs soon and almost as good I get three kills: Quindell, Maple Energy and Cupid. All three are covered as are the next raft of kills: Naibu, Pressfit, China Chaintek and Camkids. Also on the agenda are Enegi Oil and Petropavlovsk
Previously updating on supplier of Software-as-a-Service for the management of governance, risk and compliance, Access Intelligence (ACC) I noted, with the shares at 2.75p, that it now needed to be shown that the company can generate increasing positive cash flows. Until then, the most prudent stance looks to be to take a watching brief. The following updates following a profit warning which currently sees the shares 10% lower today at 2.25p, capitalising the company at £5.3 million.
I could not have put this better myself. Posting on the Motley Fool, the incredibly astute Waz Shakoor (who is short of the stock) explains it in the clearest terms. This is going to 0p. Hat tip to Waz who writes:
I have just had a Quindell (QPP) shareholder on the phone. Not any old shareholder but a veteran of class actions. I warn you KPMG, Rob Terry and Cenkos you are potentially in big trouble, this man is very serious and knows exactly what he is doing. Ahead of that I examine what happens next for Cenkos, Rob Terry and shareholders. It is not pretty. And I now have new questions for the FCA about the scale of Rob Terry's insider dealing.
Taking a look at Optimal Payments (OPAY) 2013 Annual Report has been an interesting experience. Having looked at the remuneration of Andrew Austin at IGas (IGAS) – which looked generous to a fault – I wondered what sort of package Mr Joel Leonoff might be on. I have thus far clocked up no less than seven different routes by which Optimal has been rewarding Mr Leonoff. Now I have no quibble with top-notch work getting suitably rewarded - don’t get me wrong. But the value of his packages does seem to me to be right up there with the best of the snouts-in-the-trough merchants. But first, a big fat porkie pie Gotcha!
Plastics Capital (PLA) has announced results for its half year ended 30th September 2014 and that the board “expects the group to continue to trade in line with expectations for the rest of the financial year”
All my work since I first used the word Red Flag in April 2013 has been vindicated. My scoops of this weekend on Quindell (QPP) have been shown as true - today's statement is a total disaster for Quenron. Bulletin board morons who abused and threatened me get your sorry arses round to Real Man Pizza today to buy a large pizza and expensive bottle of wine and give my fantastic staff a large tip to say SORRY. The following points stand out:
Quindell (QPP) insists that its suppliers and customers still have faith in it and that none at all have been spooked by its shares falling 90%, its founder Rob Terry being sacked and investigated for insider dealing and the fact that Quenron is paying suppliers ever later. Of course that is patent bollocks so Quenron tell us about Swinton?
Hello Share Winners. There is a lot of worry about immigrants coming to Britain. It's helping UKIP to do well in by-elections and in the polls.
Rain stopped play. I cannot record a movie. Anyhow I have a face made for radio and so this week's video postcard is an audio in which I set out the stark choices facing Quindell (QPP) directors tomorrow: prison or telling the painful truth.
Fox Marble (FOX) has announced an offtake agreement for €1.5 million of block marble in three six month tranches and which will see it receive an immediate €250,000.
On Friday I speculated that Quindell might have spent £30 million buying a business (ACH) off a gentleman who might have been a convicted Nigerian Fraudster HERE. I think we can now say that the Gentleman in question WAS ALMOST CERTAINLY the convicted fraudster. Give that ACH (now known as Quindell ACH) is regulated by the Ministry of Justice do you perhaps think Quenron might wish to clarify the matter?
Usually when an all-shares takeover deal is agreed the relative share prices of the two companies follow each other quite closely. That hasn’t been the case though with Salamander Energy (SMDR) which has received a takeover offer from Ophir, which has yet to be accepted.
I was accused by some moron yesterday of bringing AIM into disrepute. Au contraire I merely shine a light on the stinking cesspit it has become. In this podcast I explain some of AIM's dirty secrets, another fraud committed by an AIM Company (guess which one) and set out an agenda for easy reform
When I interviewed Kibo Mining (KIBO) CEO Louis Coetzee six weeks ago, the company had just placed at 1.5p. Shareholders were furious and there were even whispers of an action group to oust the board. Realistically, such an attempt would have been futile, and today the company’s outlook is much rosier.
This is a very easy one. I tried it on Victoria Geoghehan (pictured), Quenron’s (QPP) new PR bird at Bell Pottinger but she said “no comment”. Apparently her expertise is crisis management which, as far as I can see, means her firm getting paid £10k a month to answer all difficult questions with “no comment.” Fuck me, I am in the wrong game here. Anyhow back to the quiz.
Taking readers suggestions for improvements, we've made it much easier to subscribe to your favourite one-stop source for breaking news and expert analysis on AIM and LSE listed shares. £5.99 pcm gets you access, that works out at sub 2p (inc VAT) per article. Think how much our big red flag calls on the AIM frauds have saved you and hot tips like IQE have made you. Its a nil brainer....it's madness not to sign up.
I am a shareholder in Amryt (AMYT) which has had a placing today. I am furious and feel shafted. The shares are almost certainly cheap but I feel livid so am off, with Joshua, for coffees with the fit young mums. I also comment on i3 Energy (TOAST), 88 Energy (88E), Frontera (FRR) and ADVFN (AFN).
How the Bulletin Board Morons laughed at me as I warned in the strongest possible terms that 88 Energy (88E) shares were a slam dunk sell and that drilling of the Icewine well was not going well. Please form an orderly queue morons I guess you did know better than a trained oil analyst after all. The shares have slumped by 0.75p to 1.25p but a market cap of £56.9 million is still way too high. There is worse to come.
I start off with a cheque received for 29p. Then as we see the Purplebricks (PURP) share price start to melt I look at hard maths and explain why the shares will collapse from here. I look at the Rose Petroleum (ROSE) placing, misleading comments from worthless crap Strat Aero (AERO), dismal interims from shamed lifestyle company Magnolia Petroleum (MAGP) and then at Intelligent Energy (IEH) which looks like a zero in waiting.
The debt timebomb has not gone away. In fact it is bigger than ever and that has massie implications for all of us, the central theme of this month's newsletter from the world's biggest investor in resource stocks, Sprott Asset Management. It writes:
This week's Bulletin Board Moron contest is sponsored by Nyota Minerals, a company that has more lives than all of our reader's cats.
Falanx (FLX) has announced a partnership with Stone Group, a major supplier of IT services to the Education sector and Government. Stone provides the hardware to all these money tree-funded bodies and will, in future, promote Falanx Cyber Defence as its sole cyber security partner.
Last night at 5.25pm Nyota Minerals (NYO) announced that its shares were being booted off the AIM casino. The roll call of shame on this one is appalling. We have AIM Regulation, broker Peterhouse and the directors of the company seemingly all at fault here, not to mention former Nomad Beaumont Cornish and two further Nomads, ZAI Corporate Finance and Allenby being dragged in. It is a true horror show. But rather than look in the mirror, the directors pointed the finger at ShareProphets – blame the media, the investigative journalists, blame evil Tom Winnifrith and myself, Nigel Somerville. This is shocking.
Uber has lost its London license thanks to Transport For London (TFL), a move applauded by useless Mayor Sadiq Khan, The Guardian, the BBC and black cab drivers. But it is very bad news indeed for London and I explain why. It is symptomatic of a new era of economic madness as is Theresa May claiming giving £20 billion (it will be more) to the EU is a good deal and our useless PM also trying to satisfy the greed of lazy and overpaid public sector workers. Perhaps the biggest sign of this madness and wish for economic hari-kiri is Labour's plan to renationalise the utilities. It is utter madness but no one dares say so. We are heading faster and faster towards the precipice my friends.
Hello, Share Poppers. It’s always a pleasure to listen to comment from readers of this terrific website. So a few months back, I bought some shares in Aeorema Communications (AEO), as one of my readers said they couldn’t understand why the stock of such an award-winning company was not doing much better.
Hello Share Samplers. When a share approaches company results day, whether for six months or the full year, we can expect the share price to rise. Once that special day arrives, the value often falls - even when profits are in line with expectations or even better. Naturally, the most trading often goes on in the run-up to the announcement concerned and in the week afterwards. But there’s an advantage in buying your shares when nothing imminent is on the company’s diary and when no other news is expected.
Symphony Environmental Technologies (SYM) was a 6.75p offer price share tip – and the shares rose to 11.5p on the back of a first half of 2017 results announcement, though have currently slipped back to 10.5p…
Well it did arrive in a brown envelope! The eagle eyed among you will see that I appear not to have cashed the last cheque from this source, for 51p. I think I lost it. But I'm now entitled to 80p as a result of being a loyal shareholder in the London Stock Exchange (LSE). Of course my real "dividend" is being able to attend the AGM to berate the hapless head of AIM Regulation, Mr Marcus Stuttard. Truthfully, notwithstanding today's cheque I can say that I am not in this one for the money.
An unusual time (1:01pm) “Statement re contract” announcement from marketing services group St. Ives (SIV). Uh oh...
This is a share tip that has not worked out. We are well down on the 37p offer price of January - our timing was imperfect. To be fair, we advised averaging down a week or so ago at a 24p offer. Shares in the geoscience and geospatial group Getech (GTC) are now 26p offer after a very good trading update and at this level they are a strong buy.
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