MINDING THE LSE’S BUSINESS

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Articles by: TOM WINNIFRITH, THE SHERIFF OF AIM

EPIC SAR
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Sareum: how soon does it go tits up? Is there a discounted placing underway?

Sareum (SAR) is in a very bad place. For starters it is almost out of cash but has declined to say just how close it is to a gig with the Fat Lady. Its silence suggests that it is very close indeed and, if AIM was a properly regulated market, no sniggering at the back please, the company would be forced to come clean.
  • By Tom Winnifrith, the Sheriff of AIM
  • 2024-03-18 11:22:49
EPIC MMAG
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Letter to AIM Regulation: Surely musicMagpie must come clean?

Yesterday musicMagpie (MMAG) released dismal results showing debt increasing alarmingly and it on the brink of breaching one of its key banking covenants. But there was no mention of the supposed process of finding a bidder. It is spoofing, its silence speaks volumes but it should be forced into making a formal statement. I have written to the Oxymorons at AIM Regulation
  • By Tom Winnifrith, the Sheriff of AIM
  • 2024-03-14 13:56:24
EPIC SBTX
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A Letter to Stuart Ashman about that death spiral he now admits has been a disaster

At least Stuart Ashman of Skinbiotherapeutics (SBTX) has now admitted that the death spiral taken out with CLG Capital is a very bad financing option as some of us pointed out right from the start, and were told we did not know what we were talking about!. He says that he will not draw down any more on the facility but, after two conversions, there are still £1.47 million of loan notes outstanding.
  • By Tom Winnifrith, the Sheriff of AIM
  • 2024-03-11 12:19:53
EPIC TERN
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Tern: InVMA goes tits up, another £222,624 goes to money heaven, next placing needed within 8 weeks

Over the years Tern (TERN) has invested a well into seven figures sum in InVMA Limited, which trades as KonektioTM. But before Christmas, facing its own cash crisis, Tern passed on the most recent round of bailout refinancing and thus saw its shareholding diluted from 35% to just 8.8% with a written down book value of £222,624. With hindsight that was the first, and indeed only, good call Tern made on Konektio.
  • By Tom Winnifrith, the Sheriff of AIM
  • 2024-03-05 10:09:55
EPIC RDT
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Minus 99.2% since IPO, the price you pay for a deceptive prospectus prepared by Cenkos, now Cavendish

Rossyln Data (RDT) was a Cenkos Securities special as an IPO. Neglecting to mention that the key men in sales and product development had jumped ship months before the IPO to start up a competitor was, with a massive error and Cenkos should have been panned by the regulators. It was not and it does not care! A decade after the IPO investors have lost 99.2% (adjusting for a fifty for one consolidation) but Cenkos, now Cavendish, is still there banking its Nomad retainer and commission on numerous bailout placings, so bringing in stacks of coke and hookers money. Today there is yet another warning.
  • By Tom Winnifrith, the Sheriff of AIM
  • 2024-03-04 14:11:32
EPIC URU
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When you owe someone £5 you are in trouble, if you owe them £500,000 they are in trouble: Uru Metals

As Nigel Somerville has reminded you numerous times John Zorbas run (a red flag in itself) Uru Metals (URU) is utterly worthless and shares in the company have collapsed from more than five quid to just 50p as the Deputy Sheriff has posted his numerous warnings. Today we have another RNS signed off by disgraced Nomad SP Angel which makes no sense at all.
  • By Tom Winnifrith, the Sheriff of AIM
  • 2024-03-04 13:00:44
EPIC SBTX
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Skinbiotherapeutics sends email to clarify forecasts and cash spunk on Dermatonics: the FD is an idiot

As you may know the idiot Nomad Giles Baleny at Cavendish has banned Skinbiotherapeutics (SBTX) from doing podcasts behind paywalls citing a made up AIM Rule against providing information that is not open source. Whatever, he is a lying bellend. But apparently Skin’s FD Manprit Randhawa is allowed to send private emails, cc’ing in the bearded poltroon Ashman, to individual investors. Just how open source is that Giles you knob? One such email has arrived at Winnileaks and I reproduce it below with my comments in bold.
  • By Tom Winnifrith, the Sheriff of AIM
  • 2024-03-02 10:34:23
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