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Results: VLRM

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The rotten flaw at the heart of Aquis – directors can say whatever they want: true or false: Ref Richard Poulden & Valereum

Yesterday I flagged up the laughable interims from the Richard Poulden/David Lenigas/Zak Mir ramp Valereum (VLRM) in which the company claimed that a £6 million overdraft facility was a current asset.  I know that both Poulden and Mir were keen supporters of the bogus cult of Modern Monetary Theory so maybe that is where this all comes from:  rather than printing money, Poulden is printing assets.  I blamed Ms Heena Karani and advisors Peterhouse for allowing this novel, and wholly bogus, new development in accounting to be published. I was wrong and offer my apologies to Ms. Karani and to Peterhouse. Well sort of.

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