Online Blockchain (#OBC) – H1 increased loss, cash down to £1.1m
- 2022-03-22 07:59:57
I need to write this quickly so as not to interrupt the luncheon plans of Mr Roland “Fatty” Cornish, Nomad to this fine company. I would imagine that the start of Advent or the anniversary of the birth of Winston Churchill or the fact that it is Wednesday will be seen as good reason for a celebratory seven course meal starting as soon as Fatty has finished his elevenses. And so to rush. Fatty, you and your client Online Blockchain (OBC), the bastard parent of ADVFN (AFN) have goofed with final results today and those results will have to be re-stated. That is, if you care about accounting rules as much as you care about your reputation as the City's greatest gourmand.
Once again we get an RNS reach from spoof company Online Blockchain (OBC) run by the same gang who run ADVFN (AFN) which put out its own comedy release today as discussed in bearcast HERE. But this one is so special it needs a full translation service. The translation is in bold.
If Clem Chambers manages to keep his job as boss of ADVFN (AFN) as Israeli brainbox Yair Tauman plans a boardroom clean out, it will only be because AIM dog Online Blockchain (OBC) owns 18% of ADVFN. And who runs Online? Er…Clem Chambers. Today, Online, which celebrates its 25th birthday next week having racked up more than £5.5 million in losses and has less chance of making a profit than I have of shagging Cheryl Cole, for this week at least, has news. Wait for it…
No doubt my friend Brokerman Dan will say that I am just a dinosaur and that Clem Chambers of Online Blockchain (OBC) is a genius but today's news makes no sense at all. Perhaps folks celever than me can explain.
Two years ago after a bout of shameless ramping involving IR genius Steffi a certain Manchester based blogger and the company, shares in Online Blockchain (OBC) touched 200p at which point low life broker Smaller Companies Capital organised a £1 million placing at 100p.
I am a proud confirmed Luddite so need your help in explaining the business model of Clem Chambers’ Online Blockchain (OBC). You see he is beta testing a new product: FreeFaucet.
The full year results from Online Blockchain (OBC) do not look that terrible until you compare them with the interims at which point you start to ask just when will the money run out. This statement is terrible and, understandably, the shares – 200p at peak ramp earlier this year – have slumped another 3p to 22p-27p. Ouch.