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As you know we have been big bears of AIM promote Elecosoft (ELCO). There were so many red flags when we published a major bear report HERE including Stockopedia of Wirecard, Globo & Quindell infamy having it as atop pick, Vox Markets promotion and highly aggressive accounting. They mounted when ElecoSoft started threatening legal action. Since then the chairman and founder has walked and now this.
A new research house specialising in AIM stocks launches today with a damning 100+ page report on Elecosoft (ELCO), a darling of the Casino. Shares in this company are rated highly by Stockopedia (always a red flag), and are being pushed aggressively to retail investors via outfits such as Vox. But the report from Ciphersense Research is damning. Related party deals, uber aggressive accounting, shocking corporate gvernance, executive greed, a rotating door of FDs, pointless acquisitions, failure to file subsidiary accounts. All is exposed.
Technology provider to the architectural, engineering, construction and digital marketing industries, Elecosoft (ELCO) has announced results for the first half of 2018 and that “in light of the company's first half performance, we look forward to the remainder of 2018 with confidence”. The shares have currently responded, er, more than 5% lower, towards 80p?…
We have a refreshing technical situation here at Elecosoft (ELCO), refreshing in at least a couple of ways for the share price. The first is that this is a stock which is totally new to me, only having made it onto the Bull Call radar after yesterday's rise for shares.
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