Nexus Infrastructure – ‘profits in line’ (are they?), ‘order book provides good visibility of earnings’ (does it?)…
AIM-listed Woodford dog and wannabee computer-generated drugs developer Verseon (VERS) has announced the sale and leaseback of its headquarters in Fremont, California. It says the sale will provide working capital but in case the $34.7 million price tag looks like good news, it is most certainly not. This is a calamity and by my calculations Verseon could be technically insolvent even upon completion.
It is surely now only a matter of time before this AIM-listed Woodford Dog is taken out and shot as an act of mercy. Out of cash, piled up with bills to pay, with no income, a failed ruse to play the crypto-currency game and with benefactor Neil Woodford now out of play, AIM-listed revolutionary drugs-from-a-computer generating machine Verseon (VERS) has announced it is looking to sell its HQ, the research, development and operations facility in Fremont, California. There is a slight snag, however, in that it is already mortgaged. What will the forced seller get for it?
AIM-listed Woodford dog and purveyor of revolutionary computer generated drugs Verseon (VERS) released its interims results yesterday – deadline day. A look at the balance sheet says it all as the company bleats that its Magic Money Tree (ie Neil-Knows-Best Woodford) is barren. It has no income, is piled up with debt and nobody wants to invest.
Neil Woodford is in the press for all sorts of things – bashing by the Daily Mail (another one today), his partner selling his house -The Times which also tells us that he is moving out of biotechs. And on that score, I see that AIM-listed Verseon (VERS) has more than halved in price over the last few days. We’ve not had a statement from the company, although I fancy it is running out of cash quickly, but it seems that someone was very keen to get out last Thursday.
Tom Winnifrith and I have already stuck the boot into Woodford Dog Verseon (VERS, but formerly VSN) as it raised yet more cash to keep the lights on in March. Of course, that fundraise fell to Neil Woodford who ponied up 105p per share for 7.5 million shares of the 7.7 million share issue. That was bad enough, but being near-enough the only investor in town (armed with other people’s money) he coughed up 105p per share when they were trading at 74p – madness!
Neil Woodford has today spunked £7.5 million more of his investors cash in a £7.7 million placing by joke company Verseon (VERS). It is a cynical and seedy waste of other folks cash which shows the moral rot that has set in at the heart of the crumbling empire of Britain’s most disliked, failing, fund manager.
In my piece of 24 January I predicted that AIM-listed Neil Woodford dog Verseon (VERS, but formerly VSN) would need more cash and this morning it announced its intention to raise $10 million through a subscription “for working capital” (yeah, more like ongoing losses…) Oh, and it wants to raise funds from a global investor base into its new blockchain security. Oh goodie, where do I sign up?!
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