NEWSFLOW
Chill Brands (#CHLL) – Michael Sandore to join as Chief Commercial Officer, good luck chap!
- 2022-01-04 07:55:40
The fraud that is Chill Brands (CHLL) is running out of cash fast with sales at levels that are almost statistically insignificant. Rather than update us all on that tale of woe there is another spoof. This is all part of an attempted ramp to get a deeply discounted bailout placing away as soon as is possible. Todays spoof is laughable. I offer a translation service
We knew John Story was a proven liar and a lock-in rule breaker but we thought he was smart so would have been dumping his holding in the fraud Chill Brands (CHLL) as it rapidly runs out of other people's cash. Au contraire, if he is telling the truth, Story has been catching the falling knife.
Shares in the fraud Chill Brands (CHLL) have raced ahead today by 53% to 17.25p on the back of news of a new distribution deal. Yup, the market cap has gone up by c£12 million on the back of a transaction worth £275,000 or less. Insane. You bet. But of course Chill does not give any numbers in its release and morons buying this stock have not done the maths or checked out Google Earth. I have, as you can see below.
Yesterday, in bearcast, I explained in detail why the Chill Brands (CHLL) website is misleading with regard to major shareholders and why the proven liar John Story must have reduced his interest but has not filed a TR1. Sadly, there appears to be no corrective RNS so I have written to Nick Harriss of Allenby Capital, Chill’s retained adviser, suggesting that if he has a shred of integrity he will correct the situation. I cc in the FCA
‘The best time to kick a man is when he is down’ is a quote from my friend the bear raider Simon Cawkwell, aka Evil Knievil. It is not a reference to individuals who have fallen on bad times for Cawkwell is, sometimes, not that uncharitable, but to shares in companies hitting new lows.
There are suggestions today that Chill Brands (CHLL) next bailout fundraise will be at 5p. I would suggest that this is the bull case. Rapidly running out of cash and with a business model that is a proven failure I cannot see why this business will be rescued until it is on the brink and the spivs at broker Peterhouse do a friends and family offer at 0.1p turning it into a cash shell. What is clear is that the shares will collapse as stale bulls dump and that anyone hanging on is insane. But what of the FCA?
Yesterday saw two trades of 2,005,106 and 2,550,000 Chill Brands (CHLL) shares dumped well below the offer at 14.25p. That is more than 2% of the equity. There were other big sells below the bid on Monday. Was a major shareholder at last accepting that I was right or was this just canny de-risking as today there is a trading statement which is so terrible it is hard to know where to start. No doubt the FCA will ensure there is no story of insider dealing to tell. So how bad is the statement? It is dire.
