Tintra (TNT) has issued an RNS “Strategic Investment Under Funding Round” which saw the shares soar up over 225% at the time of writing. The whole think stinks like a rotting herring stuffed down the back of a sofa in a very warm room.
Richard Shearer at Tintra (TNT)continues with the rapid news flow with two more RNS announcements since my last article. Let’s start with a positive from yesterday’s RNS: "Dan Pym, the Group Finance Director, will leave his job at the end of this week. The Company expects to make an announcement regarding his replacement prior to his departure.”
Today Tintra (TNT) announced its entry into the previously announced AI joint venture. There is nothing like announcing essentially the same deal twice to keep up the news flow. Under Richard Shearer, Tintra has turned into an RNS and share issuing machine. But these announcements are so patently bogus, how can Nomad Allenby sign off on such utter bollocks?
Since the arrival of the new management at what was St James House on 25 March 2021, there have been over 25 RNS announcements from the group now known as Tintra (TNT). That is enough on its own to scream caveat emptor.
I set out below four reasons why Tintra’s (TNT) interim financial statements are not compliant with the requirements of IAS 34 for interim financial statements and why new interims are required. Do I expect Nomad Allenby or the Oxymorons at AIM Regulation to do anything about black and white breaches of the rules? No. My faith in regulators or City advisors is at rock bottom. But just for the record:
This morning’s interim results for Tintra (TNT) record an operating loss on ongoing activities of £704,000 on revenue of £596,000. The bottom line profit is entirely generated by a £992,000 gain on the disposal of Market Access Limited for £1 to John Botros.
Tintra (TNT) continues to pump out new RNS announcements. Some are bollocks and a spoof, but one vindicates a major thrust of my attack on this POS.
Richard Shearer, the relatively new CEO of Tintra (he was only appointed on 2 July 2021) continues with his impressive and rapid transformation of the former uber dog St James House (SJH). Under his leadership Tintra (TNT) is now giving clear guidance of its strategy and the next steps in that process to shareholders and then rapidly executing on those steps.
Is Tintra (TNT) about to reveal an almost £1 million gain on the disposal of its former subsidiary Market Access Limited in its interim accounts for the six months ended 31 July 2021? Natch that would excite bulletin board morons but for no reason at all. Indeed it would stink.
