Verditek fesses up that there’s been an Italian job but what is the near insolvent company not admitting to?
Just how much do greedy fat cats Julie & Ali at Sosandar need to be motivated? £50,000 becomes £2m as punters get screwed
It looks as though the fun is finally over at Cynical Bear’s favourite, Mark Gustafson’s Standard-listed Challeneger Acquisitions (CHAL) for this morning the shares in the carcass of failed Big Wheels were suspended pending an RTO. Quite what Cindrigo Energy thinks it is doing taking on up to £560,000 of Challenger’s creditors and overheads, plus the costs of the RTO I am less sure of.
Cynical Bear had a great run following the shenanigans at Standard-Listed Challenger Acquisitions (CHAL) as it failed to see its ‘wonder-investment’ in the New York Wheel generate anything other than massive losses and red faces all round. But things seem to have taken a turn for the better - at least in entertainment terms - following the arrival of that fine duo of Jonathan Tidswell and - perhaps Lucky Lord this time - George Lucan. If only the balance sheet wasn’t such a mess……
Well surprise, surprise – Cynical Bear was right! Standard-list posterboy Challenger Acquisitions (CHAL) reported its FY18 results last night at 5.24pm, hoping that nobody was looking. Unfortunately for its CEO, ShareProphets was watching and the numbers are absolutely dire. With net current liabilities of £3.2 million, it has a mountain to climb...
Late last month-announced half-year results from Challenger Acquisitions (CHAL) included “management continues to believe that the New York Wheel developers are motivated to complete this project”. Today a “New York Wheel Update”…
I don’t write as often about my Sub-Standard Shockers XI as monthly updates saying that nothing much has happened and most of them remain in suspension is pretty dull; however, with 30 April being a crucial day in many of their calendars I thought I would do a quick review of some of the drivel emanating from these Standard Listed entities.
Like the AIM Market itself, there are aways an array of losers to choose from in the Bulletin Board Moron of the week. Well actualy (TW here) that is yet more fake news from Darren. It really is time to fire him again and so he can go make up stories with his fellow Trump hating money tree worshippers at The Guardian or the BBC. There were only two entries last week. Come on folks surely you can supply more this week? Tell you what i shall offer a prize. Anyhow last week's winner was:
There were some good nominations this week, but our winner is a new face. I'll let FormationOfDamnation explain his nominee, TaffEvans on the CHAL board on the LSE Asylum He notes: The gold medal has to go to TaffEvans though, for this intraday Damascene conversion on Tuesday...
I’ve been keeping my powder dry on Challenger Acquisitions (CHAL) in recent weeks despite the rampfest extraordinaire going on in all the usual places. However, the two RNS’s yesterday have got me banging at my keyboard as it highlights the shoddy behaviour going on. It’s clear who the CEO, Mark Gustafson, is really working for here, namely the death spiral funders backing this piece of crap.
Not that Challenger Acquisitions (CHAL) has bothered with an RNS but the wheels are literally falling off here with disastrous news pertaining to its only real asset, the New York Wheel. If you haven’t got out already I suggest you do so now and save a few pennies while you can.
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.
I’ve been badgering Challenger Acquisitions (CHAL) for three weeks now to tell the market what was happening with the debt it owed and today it finally made the announcement and it was marginally good news. What happened next though was just wrong, a rampathon across LSE, ADVFN and Twitter (and Challenger should take some of the blame), with one sole aim, to mug off the average punter. This behaviour must be stopped – my campaign starts here.
I had given Mark Gustafson, CEO of Challenge Acquisitions (CHAL), a few days grace to see if he would do the decent thing and tell his shareholders what the hell is going on at the moment, but seems like he needs a bit of persuasion to come out with the six word RNS: “Um…sorry, it’s gone tits up!”
Another week and yet more all-time lows for the share price of Challenger Acquisitions (CHAL); however, with a critical convertible loan note deadline looming, it could get much worse very quickly and I wonder whether it will actually make it through the week.
I used to love scouring my mum’s monthly ‘Puzzler’ magazine for the Spot the Difference puzzles trying to find the extra seagull in the beach scene or the additional letter poking out of the postman’s bag on the high street. So I thought I’d offer up a bit of Sunday fun with a couple of my own, although admittedly, this one is a tad easier than the second one.
This morning’s RNS from Challenger Acquisitions (CHAL) is actually good news for the business, but some of the goings-on in the last week have made me more cynical than ever and I despair at the state of the lower end of the market.
Another slow step towards the grisly end for Challenger Acquisitions (CHAL) this morning as, unable to pay its debts due to the Starneth guys, it “sold” the business back to them, leaving Challenger holding nothing but a few promises and hopes, although clearly it hasn’t been spun that way.
I understand that Mark Gustafson, CEO, of Challenger Acquisitions (CHAL) is more than happy to treat its shareholders with disrespect and utter contempt but, come on, surely you can’t just sit on price-sensitive information about whether you are bust or not?
I appreciate we’re only a week into the New Year but as there’s been significant news on both my sell picks, here’s a quick update. You won’t be surprised to hear that I remain as confident as ever as the position has worsened for both already. Let's start with Challenger Acquisitions (CHAL).
Cynical Bear is probably onto his second bottle of ouzo by now thanks to today's news from Challenger Acquisitions (CHAL). Mr Bear has warned you time and time again about the numerous red flags associated with this company and indeed made it one of his two sells of the year with a target price of 0p HERE. And today we learned that after just 358 days with the company the chairman John Le Poidevin has resigned. It gets better if you are Mr Bear. Have another ouzo.
Challenger Acquisitions (CHAL) has a been a common target for me this year and it doesn’t surprise me that its share price has collapsed from 37.5p when I first wrote on the subject back in January to 11.875p today – a drop of 68%. However, I think there’s plenty more to go and would actually be surprised if it still existed by this time next year.
Having listened to Tom’s Bearcast on the topic yesterday, I thought I’d add my tuppence-worth on Challenger Acquisitions (CHAL), which like one of the Giant Observation Wheels that it designs, appears to be moving so slowly that one wonders whether it is actually moving at all.
Lazy journalists on a local paper that thinks it is a national clearly read this website and are happy to lift our stories without attribution. Hence on 23rd October, Cynical Bear ran the "Challenger Suck Dick" scoop HERE. Four days later this is presented as news in the woeful City gossip column of the piss poor Evening Standard. Natch there is no attribution... the Standard would not want its readers to know where it gets its old news dressed up as news from would it?
I thought the Challenger Acquisitions (CHAL) wheel had actually come to a stop after a very quiet summer; however, recent announcements on funding and the New York Wheel indicate that it is still inching forward towards its inevitable conclusion. Thought I would dig around an obvious omission from the latest news and found a few interesting snippets.
In last week’s piece on Challenger Acquisitions (CHAL) HERE, I said I would comment further once the interims came out. Well, they were released this morning and, unfortunately for shareholders, there were no surprises.
Having asked the question five weeks ago (HERE), I was pleased to see Challenger Acquisitions (CHAL) finally announce this morning what had happened with the €1.25 million debt that it owed the three ex-Starneth shareholders. Guess what – it didn’t pay it. Big surprise!
Potentially good news coming out of Challenger Acquisitions (CHAL) this morning, although it does beg a few questions if you don’t mind me adding them to my list, Mark?
Another week and at least two more soft interviews for Mark Gustafson, CEO, of Challenger Acquisitions (CHAL) this time at ProactiveInvestors (again) and yet another “mauling” from Zak Mir on TipTV. Desperation at all-time highs but surprisingly no-one asked the critical question: have you managed to pay the €1.25 million you owe the ex-Starneth shareholders?
Another week and yet another soft interview for Mark Gustafson, CEO, of Challenger Acquisitions (CHAL), this time at Sharepickers. Desperation is setting in as time is running out and the only buyer in any volume is no longer able to buy. It’s not looking good.
With Challenger Acquisitions (CHAL) trading at a 52-week low during Friday at 20.75p, and having just lost eight minutes of my life watching Zak Mir’s recent “mauling” of Mark Gustafson, CEO, in yet another paid for ramping interview on TipTV, I wondered whether this was the beginning of the end of the ride for Mark and Challenger.
I explained on the previous occasion that Mark Gustafson, the CEO of Challenger Acquisitions (CHAL) announced that he had bought lots of shares that he was spoofing. Now he is at it again but it even the dumbest moron must now realise the spoof is not working.
Another day and its another announcement from Challenger Acquisitions (CHAL) that its boss is again buying shares. Don't be fooled this is a spoof. Its a sell signal not a sign to buy.
It’s always interesting digging in to the Final Results and the Annual Report in detail to see what is hiding in the back of both and what is omitted from the results altogether. No surprises that Challenger Acquisitions (CHAL) hide the “good” bits away, namely the auditor’s concerns and the trough snuffling.
Watching Challenger Acquisition’s (CHAL) CEO, Mark Gustafson, doing yet another Proactive Investors interview this week with nothing new to say, albeit he said it very confidently, reminded me to finally post a piece that has been on my mind for a while about why this remains a strong bear pick for me.
I opened this morning’s RNS from Challenger Acquisitions (CHAL) with great anticipation as I thought this would finally be the Jakarta news that all investors have been waiting for. Alas not, but loads of other great news, honest!
As Tom Winnifrith explained on his bearcast yesterday, it has been an astonishing few days for Challenger Acquisitions (CHAL) with the share price increasing massively in the space of a few days from a price of 23.25p at close last Thursday to a close today of 36p on Wednesday having hit 43.75p intra-day based on small-cap stock ramping at its worst.
I was pleased to see that Challenger Acquisitions (CHAL) finally updated the market this week with a bit of a non-announcement about the Jakarta wheel, but there were a couple of interesting snippets in the follow-up interview with Shard Capital worth commenting on as you don’t want to put all the good bits in the RNS do you?
With the Challenger Acquisition (CHAL) car-crash continuing, I had to take a look at why Rich Marin would want to join the Board of such a quality enterprise, but after a bit of digging it all became clear.
Following on from my earlier piece on Challenger Acquisitions (CHAL), I thought I'd write a more balanced update following Friday's RNS.
I was interested to see the prospectus for a new cash shell called Falcon Acquisitions published yesterday. The business is headed up by Mark Gustafson and Gert Rieder and the IPO is scheduled for Monday 18 January.
Challenger Acquisitions (CHAL) was always going to be a car-crash in slow motion. The IPO on 19 February 2015 raised £1.1 million with significant support from Yorkville Advisors so Challenger started life as a public company with a 30% overhang. It then funded its first acquisition, the investment in the New York Wheel, via £3 million of relatively short-term convertible debt – there was clearly potential for death spiral funding to come.
I’ve watched the Challenger Acquisitions (CHAL) story unfold with great interest and think the current share price represents a buying opportunity.
I met up with Mark Gustafson of main market listed Challenger Acquisitions (CHAL) before UK Investor Show 2015 and he seemed very switched on indeed. His presentation and the show was captured on video so see what you think.
Search ShareProphets |
Recent Comments |