House Prices and Share Values Set to Rise. But It's Only an Opinion Thinly Based On the Mess I'm in.
Ouch! I do hope that the morons who have piled into worthless, cash guzzling, POS Iconic (ICON) in recent days had lubed up properly for this morning they were shafted completely. The shares have slumped by 47% to 0.01325p having also dumped yesterday. Now we know why and it is horrific.
Linton Capital LLP, an investment company run by Toxic Dave Sefton, has been busy putting in place the arrangements to buy the Joe Media businesses in the UK - even though Joe Media may, as I exposed a day or so ago, be going seriously off the rails. A recently filed security agreement now to be found at Companies House dated 9 July 2020, indicates that Toxic Dave, Linton Capital LLP and Greencastle MM Limited have entered into an agreement with BPC Ireland Designated Activity Company not to exceed £3,787,000 and any interest due and payable.
No news is bad news and here is why Iconic (ICON) seems to be sitting on bags of bad news. Will this company, still being run as a shadow director by toxic David Sefton, come clean? This is what it needs to clarify...
Yesterday, Iconic (ICON) announced a “New management services contract with JOE Media Business generating revenues of at least £50,000 a month. Intention to look at conventional financing options to replace current facility.” This is a total con with those revenues effectively coming from its own money. Its a swizz. Let me explain.
At 5.07 PM yesterday, AKA no one is watching o’clock, after a series of exposes on this website, about its failure to tell the truth to investors Iconic (ICON) issued an “Update on Joe Media and Other Business Update.” It vomited up a series of excuses for failing to conclude deals previously announced and forthcoming dire results with minimal turnover and significant losses. The text in bold is what we imagined Directors were thinking as they drafted this statement.
Everything about Iconic labs (ICON) is toxic as we have exposed so many times HERE. Not least is the way it happily deceives investors. This worthless lie generating POS should be slung off the markets at once. In order to keep its death spiral funding going Iconic likes to trumpet new deals but is a shy in highlighting that they did not in fact occur. For instance take the Social Alchemist and Medium Channel Media deals that were announced.
In a series of articles running for almost a year I have highlighted a sea of red flags concerning uber-dog Iconic (ICON). Yesterday Iconic announced that it “supports Greencastle Capital bid for Joe Media and discussions on management contract”. The rest of the announcement below provided some more background as follows but trhere were a few, explosive, details Iconic neglected to mention.:
I have already shown that there are more red flags at uber dog Iconic (ICON) than in Moscow on May Day. But after taking a further review of the Prospectus issued on 25 March 2020 and recent RNS announcements I note four more for the collection. Whatever is Tory MP Damian Collins doing getting mixed up in this shit show?.
Worthless new media POS Iconic (ICON) is promoted on the strengths of its three Directors John Quinlan, Liam Harrington and Sam Asante in social media as the extract from page 38 of the prospectus indicates:
On 30 December 2019, as I highlighted in my article of the same day, toxic Dave Sefton resigned from Board of Iconic (ICON) admitting that he had become a PR liability following a series of exposes on this website about how he had used company funds at Anglo African Oil & Gas (AAOG) to benefit his private interests and had then lied about repaying those funds which he has still not done in full.Sefton is thus utterly toxic but behind the scenes and a trio of directors each earning £200,000, toxic Dave remains very much active behind the scenes at this company operating with almost no revenue and racking up steep losses.. He is involved in both Infotagion and also the London Economic deals that Iconic has announced.
Uber dog Iconic (ICON) is still losing money. But that is not the real story here.
It never ceases to amaze me just how irate and even abusive some investors get towards anyone who doesn’t think that their investment in a company is going to make them a fortune. That was certainly the case last August when I covered a company called Iconic Labs (ICON) here with a piece I titled ‘Iconic Labs death spiral financing won’t work out well for existing investors’. Today the shares, having already collapsed as predicted were suspended as the company fessed up to monumental incompetence.
Further to my article last weekend which pointed out that someone at former David Sefton outfit Iconic Labs (ICON) couldn’t add up with reference to its RNS of 4.08pm on Friday 7 February (no-one-is-watching o’clock) announcing a capital reorganisation, a week later the company finally got around to correcting it…….at no-one-is-watching o’clock (4.09pm) yesterday. Perhaps yesterday’s crony capitalist lunch at shareholders’ expense was alcohol-free.
Tom Winnifrith has already taken his sup from the ouzo bottle with regard to seeing David Sefton “resigned” from Iconic Labs (ICON) and called it insolvent. In a statement at 4.08pm on Friday – no-one-is-watching o’clock – which was littered with Red Flags, we were told that the company’s business is now generating revenues and starting to achieve real growth but it plans a capital restructuring and has agreed a new death spiral as it is not currently possible to raise conventional capital. So that’s alright then! And courtesy of ShareProphets Nomad Services I forecast a correction first thing tomorrow for it seems someone did rather too well at lunchtime on Friday.
In July this year David Sefton was forced to quit Anglo African Oil & Gas (AAOG) after revelations on this website about horrific undeclared conflicts of interest, obscene expenses and other matters. Here we are on January 30th and after massive pressure about misleading RNS statements, related party deals and other matters I get to claim his scalp again, this time at insolvent Iconic (ICON).
Oh dear, oh dear, Iconic Labs (ICON), run by toxic Dave Sefton of Anglo African Oil & Gas infamy, has issued another statement on its acquisition of the LGBTI website Gay Star News. And it is still misleading its legion of daft followers. Why cannot it get the story straight. I provide, in bold, the ShareProphets translation service below.
Folks who own shares in companies that repeatedly lie via RNS are clearly morons. And as Gary highlighted earlier, Iconic (ICON) is just drowning in red flags.But still its investors continue to demonstrate on twitter just how thick as pigshit they really are as I showed yesterday HERE and HERE. Now for another dose....
All small companies need cash and ideally that will be spent on adding value to the business rather than just to cover its running costs.
I despair at the stupidity of some investors. I detailed earlier a series of threatening and frankly idiotic tweets from Iconic (ICON) shareholders to me encouraging me to stop doing my job, with threats and abuse. But one moron stands out for his stupidity.
Anyone who owns shares in a company that tells demonstrable porkies, via RNS, is by definition a moron. And, after events this week, that clearly includes shareholders in Iconic Labs (ICON). But they do not like the demonstrable falings of Iconic being pointed out to them and a small band of lunatics have taken to twitter to attack me.
Iconic Labs (ICON) stinks for numerous reasons including those discussed HERE. No doubt I will be accused of homophobia but its latest deal, to buy the IP of Gay Star News, including the website www.gaystarnews.com, a website focused on events related to and concerning the global LGBTI community for just £1 is a joke.
It never ceases to amaze me how willing many private investors are to forget past failures and accept that a complete change of direction in a business is suddenly going to bring success.
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