Microsaic Systems – reckons “thrilled to report… transformational performance”, so why further share price decline?...
Eight Capital & the Supply@ME shares – the piss take racks up a gear, surely even the FCA cannot play ball now?
Enabling crime DOES pay – Weedy FRC ruling on Grant Thornton & David Newstead over Patisserie Holdings fraud
Make no mistake, a bailout placing is underway at Wildcat Petroleum (WCAT) as revealed in yesterday’s bearcast. Today, a new adviser to replace disgraced Pello Capital, currently banned by the FCA from doing any business, has forced it to come clean so that it can place.
One of the great ramps of the year has been Wildcat Petroleum (WCAT), a poster boy for the sewer that is the Standard List regulated, no sniggering at the back, by the clowns at the FCA. It started its career on December 30th by lying to investors in its very first RNS. It said that it HAD raised £600,000. It had not.
This is pretty clear. Even the woke dullards at the FCA should be able to sort this out with one phone call demanding that Wildcat Petroleum (WCAT) produce its bank records from 30 December 2020 to 31 January 2021 or maybe later. I have sent the letter below.
If the FCA was not staffed by such useless mothers, it would have forced Wildcat Petroleum (WCAT) to issue a brand new prospectus just 6 weeks after its December 30 2020 listing as it announced a whole new business strategy. But the FCA is not fit for purpose so it will, I expect, ignore black and white evidence that the very first RNS issued by Wildcat was a whopper of a porky. On the (sub) Standard List who cares?
Wildcat Petroleum (WCAT) is putting out statements which are so misleading as to be on the borderline of fraudulent. As it is Standard Listed, there is no Nomad to sign off on RNS releases which clearly are deceptive and it is thus down to the woke dullards at the FCA to stop jerking off on ESG porn and to act to stop Wildcat misleading investors. Today’s RNS is just utter bollocks, surely the FCA must act.
This gets more insane by the minute. Wildcat Petroleum (WCAT) shares are up by another 22% at 3.35p today valuing this company which listed with a £2.4 million valuation on December 30 at an astonishing £80 million. The founder, who paid £35,000 for his stake just fifteen months ago now sits on shares valued at £56 million. Move over Nigel Wray, Jim Mellon et al… Mandhir Singh is Britain’s real Buffett!
I warned a couple of weeks ago that Wildcat Petroleum (WCAT) was the most bonkers valuation on the market. Since then, it has got 30% more bonkers thanks to insanity and non news today.
Wildcat (WCAT) was established as a private company on 8 January 2020 with £50,400 of share capital. Those shares are now valued on the Standard List of the London Stock Exchange at just over £30 million. The whole blockchain related affair stinks because the real tangible value of this enterprise is 99% less than that! Let me explain.
Yesterday Tom Winnifrith commented on a cash shell, Hawkwing (HNG) and promptly the share price took-off causing Tom to comment on the irrationality of cash shell valuations in yesterday’s bearcast. That has triggered me to write about a share I’ve looked at on and off over the last week or so. Wildcat Petroleum (WCAT) - the most bonkers cash shell valuation on the London market.
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