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.
Today’s RNS announcing the sale of its Korean Assets and Licencing of IP is welcome, albeit temporary relief for the long suffering shareholders of Versarien (VRS). The company will still go bust and its shares are still worth 0p.
Well for starters he should be shitting bricks if reports I hear about the SFO being asked to look into the supposed China MOU’s/Innovate UK Loan prove correct.
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.
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.
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.