Wednesday 24 January 2018 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
On 23rd October 2015 as the old board of Sefton Resources (SER) handed over power to Clem Chambers, Mike Hodges as directors and Daniel Levi as a consultant it stated that the cash position was $504,300. The new board claimed that it was in fact materially lower. What is it now? That is unclear but what we do know is that the number of shares in issue has rocketed from 4,796,618,397 to 8,949,299,416 as that was announced at the weekend.
Of course Brokerman Dan (Dan Levi) is not perfect. He publishes outright lies about me on a regular basis but credit where credit is due, he has nailed Jimmyliar Ellerton, the disgraced boss of Sefton Resources (SER) in court again.
News from the British Virgin islands. Sefton Resources (SER) has updated its poor shareholders with a letter from CEO Dan Levi written in his usual entertaining and combative style.
The word on the street is that the AGM of Sefton Resources (SER) is to be held today at the Essex offices of ADVFN PLC (AFN) - the head honchos at both company's being the same. Flip flop Ben Turney, who now owns almost 13% of the stock says that ADVFN boss Clem Chambers has slammed the phone down on him as he tried to confirm this.
As we revealed yesterday, ADVFN (AFN) bosses Clem Chambers & Mike Hodges who also run now delisted Sefton Resources (SER) have stated that flip flop Ben Turney has not submitted an EGM request to oust them. Flip Flop has denied this and accused the Sefton board of lying to their investors. Now Turney has parked his tank on the ADVFN lawn.
Flip Flop Ben Turney who is endeavouring to oust Clem Chambers and Mike Hodges of ADVFN (AFN) from the board of now de-listed Sefton Resources (SER) has accused the two men of "telling blatant and demonstrable lies to investors in Sefton."
The board of Sefton (SER) was informed eight days ago that Flip Flop Ben Turney owned 13% of the issued share capital and was demanding an EGM to oust the current directors, ADVFN (AFN) bosses Clem Chambers and Mike Hodges with Ben taking control. The resolution arrived in the BVI yesterday by snail mail but after eight days Flip Flop has not had a response. But he seems to have growing support and there are other developments.
LinkedIn, aka Facebook for grown ups is where those in the business world connect with each other and oggle good looking PR birds from the world of commerce or humourless left wing lawyers who look like a squirrel. In your profile you say what you are good at and joining LinkedIn today we have Dan Levi, aka BrokermanDan. Now just look at his profile - it has to be the most unusual out there. Whatever else you say about him, Levi can be quite amusing.
Cry aceeed! Over the weekend Nigel published the proposals made by flip flop Ben Turney for Sefton Resources (SER) and Teathers (TEA). Yup the longest running pantomime on the AIM Casino is back in town. Some of the ideas suggested are just plain crackers. Truly when you thought this farce could not get any more surreal it just did. Others are actually very sensible. I try to cut through the farce to suggest what should happen.
The ex-AIM-listed Sefton Resources (SER) disaster story looks set to take an extraordinary new turn. ShareProphets hears that Ben Turney has now amassed enough of a holding to requisition an EGM proposing sack-the-board resolutions, appointing himself and one of his Teathers Action Group colleagues instead. Oooh, er. But the most bizarre twist of this is that we hear that the source of Ben Turney’s holding of 585.1 million shares (out of 4.7 billion) is none other than a certain Mr Chris Oil, via a private sale. Aceeeeeeeed!!
The last we heard Sefton Resources (SER) had c£250,000 in the bank but how much is left and when will we find out? The answer to the latter question is...potentially never thanks to the strange laws of the British Virgin Islands where this company has always been registered.
City law firm Pinsent Masons acted for Sefton Resources (SER) as it attempted to gag myself and Brokerman Dan (Levi) from exposing the fraud at the heart of that company under Jim Ellerton. We stood up to Pinsent Masons bullying and won that libel case. Sefton caved, Ellerton was fired and we had our costs and damages paid by Sefton. Now I have obtained a leaked email which shows how Pinsent Masons partner Russell Booker urged Sefton to make fraudulent internet postings to discredit myself and Dan. Pinsent Masons claims to be an ethical firm. How can it be ethical if it does not fire Booker at once?
The man with the reverse Midas touch, the market abusing criminal Chris Oil has tweeted that he has sold all his oil shares. Naturally that is a lie since one suspects his 13% of now delisted Sefton (SER) is hard to shift as is the £250,000 he spunked into Lenigas Cuba (CUBA). But the tweets (below) are clear.
This classic from Blue Oyster Cult is today's song for Sefton Resources (SER) becuase tonight its shares will formally be booted off the AIM Casino following the resignation of Nomad Allenby a month ago. We know Chris Oil told everyone backing his putsch that he had a new Nomad. But he was lying. That will be a matter for the rozzers in due course. Meanwhile...
Today is Sefton Resources’ (SER) last day as a publicly traded company. In a shock email to one aggrieved shareholder, recently installed CEO Clem Chambers has admitted that the EGM requisitioners did not have a replacement nominated advisor to take over from Allenby Capital. This is despite all the public claims and propaganda to the contrary. Shame on all involved. Their reckless actions have destroyed Sefton and it’s the company’s innocent shareholders who have been made to pay.
The laughter keeps on rolling at Carry On Up The Sefton (SER). It seems that the company’s new management team has managed to spend £950 on the AGM it cancelled because it needed to “reconstruct necessary access and information” (whatever the hell that means). It appears that confidence in Sefton’s new board is at an all time low, which is a most impressive achievement when you think about it. Not trusting that the AGM was truly cancelled, one plucky shareholder turned up to the Novotel at London Bridge this lunchtime and has sent us some photos. Apparently Novotel’s catering manager repeatedly attempted to contact Sefton to confirm the booking, but no one replied. Quelle surprise!
Over the weekend I’ve been sent a couple of interesting screenshots. It seems that market abuser Chris Oil is up to his usual tricks and attempting to rewrite the history of his disastrous intervention at Sefton Resources (SER). At the heart of Oil’s dismal coup was his claim that he had a Nominated Advisor (Nomad) lined up to replace Allenby Capital. As we repeatedly warned at ShareProphets this was not true and Oil now appears to have attempted to backtrack on his false promise. Unfortunately for him he has simply managed to reopen the wound. With Sefton’s inevitable delisting imminent, will shareholders pursue Oil for causing their losses?
Sefton Resources (SER) has today updated its shareholders via a release which can only be described as semi-literate. Was it written by Zak Mir? Notwithstanding the appalling syntax the message is clear: shareholders are fucked. We bring the release with a ShareProphets translation service in bold.
The clocking is ticking down on Sefton Resources (SER) being booted off the Casino. Despite not having a Nomad, the company is still subject to the disclosure rules. So why, therefore, has Sefton’s new board not told shareholders that it has decided to cancel/postpone this month’s AGM?
On 23 October Sefton Resources (SER) announced its AGM to be held on 13 November. As a shareholder I should have received the circular for this by now, but I haven’t. Others seem to be in the same boat. I spoke with my broker TD Direct Investing today and it isn’t aware of the AGM. There is nothing in TD’s system signalling a corporate action. Even more confusingly it appears that Sefton has taken the proxy forms down from its website, which it previously had published. So what is going on?
Brilliant RNS from Sefton Resources (SER) this morning, simply brilliant. Just when you thought this story couldn’t deliver any more bizarre twists it turns out that Chris Oil has put his mum’s money where his mouth is and massively increased his stake. Not only did he buy £25,000 more stock on the open market immediately before Sefton went into suspension, for good measure he also kindly relieved convicted armed robber Daniel Levi of his holding. Oil now directly owns 13% of the suspended Sefton, while Levi apparently owns 0%. We wonder who dodged a bullet here…
The man who claims that his family discovered the North Sea, who modestly describes himself as Britain's Buffett, the market abuser Chris Oil has today issued a stark warning to BP and Shell - their position is under threat...from Sefton Resources (SER) - net cash £300,000, no assets and set to be booted off AIM in less than a month. Well you heard it here first. Did his PR genius Steffi sign off on this tweet:
For the avoidance of doubt I am stone cold sober in writing this. I had a small glass of wine last night but just one. I say this because I now say that Dan Levi (Brokerman Dan) has made a valid point about the Sefton (SER) debacle.
As I warned you yesterday (HERE) shares in Sefton Resources (SER) were suspended this morning following the arrival of a new management team backed by Comrade Dan Levi and the market abuser Chris Oil. Nomad Allenby has quit. The LSE has told other Nomads not to act and in a month Sefton will be booted off the AIM Casino. But it gets worse.
In case you are still dumb enough to be holding shares in Sefton Resources (SER) - if you do not sell by 4.30 today you will almost certainly never be able to sell again and you will lose all your money.
It would be churlish not to report that Sefton Resources (SER) has some good news to report. Its shares are still toast but at least it appears to have seen off the legal challenge of its bent former boss Jimmyliar Ellerton.
Following on from Alice Cooper's songs for Sefton Resources (SER), here's another one for you from the great Jon Bon Jovi
As expected today’s news from carry on Up the Sefton Resources (SER) signals the death of its AIM career but it gets worse, the new management team and its backers stand humiliated. The City of London is closing ranks against them
There will be an RNS tomorrow at 7 AM from Sefton Resources (SER). For those dumb enough to still own the shares, here's a song just for you from the great Tom Petty
Carry on Up the Sefton Resources (SER) has helpfully given us an update on its death throws as an AIM casino listed stock – suspension could well arrive by as soon as Friday at 7 AM. The timetable of doom is thus:
Carry on up the Sefton Resources (SER) shareholders should be warned: trading in shares in your company will be halted sooner than you think and the company will almost certainly be kicked off the AIM Casino a month later, we have it from more than one source that Clem Chambers and those who called for an EGM are not backing down.
On Friday, midway through the morning session, market makers suddenly marked down the Bid for Sefton Resources (SER) to 0.04p. They did this on what appeared to be a relatively light volume day and with no official news from the company. The Ask was left at 0.06p, leaving Sefton’s share price with a massive 50% spread. This price strongly suggested the market wanted to discourage sellers. A possible (probable?) explanation for this was that there was a major seller in the background. After this morning’s news from the company, it shouldn’t take much effort for the FCA to confirm whether or not anything untoward happened. And so...
As predicted on Sunday in yet another scoop for this website, ZAI Corporate Finance, led by heroic Big Ray Zimmerman, has refused to act as Nomad for the proposed new management team at Carry on up the Sefton Resources (SER). We can now reveal the real reason for this, flag up yet more market abuse by Chris Oil and suggest what happens next.
I am afraid that while there have been many bloodbath days for shareholders in Carry on up The Sefton Resources (SER), tomorrow will be the bloodiest of the lot. I am expecting an RNS first thing and it is not going to be good news.
This morning’s interim report from Sefton Resources (SER) does not make for happy reading for shareholders. After yesterday’s news that the company has run up the white flag to Team Shotgun, today’s numbers pour a bucket of ice water over the Clem Chambers/Mike Hodges fantasy. Sefton had limited resources. It had a plan. Ex-CFO Raylene Whitford was making headway in incredibly difficult circumstances and should have been supported, not attacked. Now, thanks to the interference of the market abuser and the bank robber, it will be lights out by Christmas, unless the company can issue more confetti. Oh, and convince Ray Zimmerman to take on this basket case.
You may well remember my six part acid trip with scumbag a'hole dirty tricks specialist lawyers Pinsent Masons HERE. I had almost forgotten but last night I was sitting in Free Speech & Liberty Pizza when a white rabbit wandered in wearing a T-shirt saying "Chris Oil - Sefton's saviour". I looked up and the white rabbit handed me a sugar lump. Heck. Why not. I'd had a good day. Camkids was on its way to AIM casino death row so I said "thank you", forgot about my diabetes and swallowed. Shroooooooooooooooooooooooom.
We all knew that at the October 6 EGM, team Chris Oil would win and that the current directors – bar Jossy Rachmantio would be booted out to be replaced by ADVFN’s (AFN) Clem Chambers and Mike Hodges. Sefton (SER) has now thrown in the towel but the drama is far from over.
Sefton Resources (SER) was not the first London listed company that Jimmyliar Ellerton milked for personal gain and trainwrecked for shareholders. In the early 1990s he ran an outfit called Com Tek and in light of his current US legal case against Sefton I asked a Com Tek insider what happened next...
We’ve just heard that Sefton Resources’ (SER) petition to see Jimmy Liar’s bankruptcy claim thrown out of court has been postponed until 12 November. Things really are going from bad to a hearse for this company’s shareholders. Assailed from all directions by damn fools, how much more punishment can poor old Sefton be expected to take?
There are numerous reasons why the AIM casino system of regulation based on Nomads fails miserable to protect investors from lying and fraudulent directors. But one major failing is what happens when a Nomad resigns and to demonstrate this I have got my hands on the letter sent by Fox Davies when it quit as Nomad to Sefton Resources (SER) in September 2012 and am delighted to share it with you. Private & Confidential it is marked. Well not any more chaps!
This is not going to be a good day for Sefton Resources (SER) or for London’s most despised law firm Pinsent Masons. My next leaked email is from Pinsent Masons partner Russell Booker and shows how he was at the heart of covering up the fraud at Sefton and wasting its shareholders cash on its doomed libel case against me.
I have obtained the explosive exchange of emails which saw Fox Davies resign as Nomad to Sefton Resources (SER) in 2012. They vindicate me once again in the libel case I won against this POS but show that CURRENT Sefton director Tom Milne is not a fit and proper person to sit on an AIM board and must be SACKED at once.
It is now certain, following the shock resignation of Raylene Whitford, that Sefton Resources (SER) will soon be run by Clem Chambers and Mike Hodges at the behest of Brokerman Dan and market abuser Chris Oil. Nomad Allenby will quit the day the new consortium takes charge meaning Sefton will be booted off the AIM Casino unless a new Nomad steps forward. So which Nomad wants to commit reputation hara-kiri?
Another day and yet more entertainment from the biggest joke company on the AIM casino, Carry on Up The Sefton (SER) – CFO Barbara Windsor, played by Raylene Whitford, has quit the board with immediate effect. WTF?
Over the last few days I’ve had a number of requests from Sefton Resources’ (SER) shareholders asking me to interview CFO Raylene Whitford. Broadly speaking, half of the requests have come from supporters and half from opponents. Next month’s vote at the EGM will be crucial for Sefton’s future. As much as I am a vocal opponent of convicted armed robber Daniel Levi’s bid to hijack the company, I won’t give Whitford an easy time. There are tough questions that need answering about Sefton and if you’d like to throw some into the ring, please do so below.
Why won’t convicted armed robber Daniel Levi and market abuser Chris Oil name the Nomad, willing to back their bid to seize control of Sefton Resources (SER)? Levi has form in failing to disclose crucial information, but in this instance his deliberate clouding of the truth has incredibly serious implications for Sefton and its shareholders. If Oil and Levi are successful in their bid to commandeer the company, Sefton will be forced to delist within 28 days, unless they can find a Nomad prepared to commit professional suicide. Only naïve fools are downplaying the severity of this problem and the strong likelihood it is going to happen.
Carry on up the Sefton (SER) continues to provide amusement for all with three of the leading players taking to the media to put their case yesterday: market abuser Chris Oil played by Kenneth Williams, ADVFN supremo Clem Chambers played by Bernard Breslau and current Sefton boss Barbara Windsor played by Raylene Whitford. The question that emerged relates to Chambers and Oil – who is the organ grinder and who is the monkey.
Earlier this week I reported how market abuser Chris Oil had wasted Police time by reporting me to the Old Bill with West Mercia Police dismissing his compliant after just one email. But it seems, in this latest episode of Carry on Up The Sefton, that Kenneth Williams is nothing if not persistent and has now reported flip flop Ben Turney as well complaining “Oooh Officer, he is awful.”
As indicated HERE in Tom Winnifrith’s comic snipe at the unfolding Greek Tragedy that is AIM-listed (for now) Sefton Resources (SER), things are getting serious. Very serious. Shareholders, however small their holdings may be, have a decision to make and a vote to cast. Get it wrong or ignore it and it could be a total wipe-out. Here is why.
Oooooh you are awful said market abuser Chris Oil, played by Kenneth Williams, this morning as Sefton Resources (SER) slammed into him and bank robber Dan Levi, played by Sid James. Barbara Windsor, Raylene Whitford, put on her undersized swimsuit and giggled as she waded teasingly off towards a swimming pool to plan how to spend her redundancy money. Welcome to another episode of Carry On Up the Sefton.
For many months those connected to market abuser Chris Oil have been boasting that they have Jim Mellon onside as they try to save the company. Oh no….
As Ben revealed HERE Chris Oil has requested an EGM at Sefton Resources to oust the board and replace it with the ADVFN (AFN) duo of Clem Chambers and Mike Hodges. This is a disaster as I expect the market abuser Oil to win. If he does Sefton may well be delisted and its shares are worthless as I explain in today's special podcast. My target price for Sefton shares is now 0p.
Since the end of last week there have been a number of online leaks suggesting an announcement was on the way concerning Sefton Resources (SER). Yesterday, the company’s share price rocketed 26.3% on no news, to close at 0.06p. It would be very interesting to know who was buying and why. Sources have now confirmed that Chris Oil, acting as Daniel Levi Associates, has submitted a letter of requisition for an EGM at Sefton, seeking the appointment of ADVFN’s (AFN) Clem Chambers and Mike Hodges to the board. This is surely unrelated…
Followers of convicted armed robber David John Hopkins, commonly known as Daniel Levi, have attempted to make light of his criminal background. Levi’s Lemmings seem unconcerned that he lied on official documentation about his former identity and unspent convictions, when he joined the board of Sefton Resources (SER). It will be interesting to see the reaction once Levi’s apologists learn that “Daniel Levi” was refused bail as David John Hopkins in March 2014. This was six months after he last appeared in front of a judge as “Daniel Levi” in connection with the infamous Sefton libel trial.
As I sat three miles from Horse Hill on Monday night I tried to distract myself from the thought of rolling green fields never to be tainted by industrial development, to the matter of oil. And to Sefton Resources (SER). Not that it is rolling in the stuff. Its main problem is lack of money – I sense that a rescue bailout is underway (see HERE). But it has a secondary problem, its much vaunted Indonesia deal must be in trouble.
As I sit in a hotel at Gatwick Airport killing time ahead of a flight to Athens, I ponder a walk down to Horse Hill. But enough of never to be spoiled green fields, let’s talk about oil. Sefton Resources (SER) shares tanked again today and are now just 0.04p to sell – the market cap is sub £1.4 million. So when’s the rescue bailout? Is it underway already?
Official court documents we have gained access to show that the gloves are off as far as Sefton Resources (SER) is concerned in dealing with ex-CEO Jim Ellerton’s delusional action against the company. Just when you thought Ellerton’s reputation couldn’t sink any lower he is now accused of having used his consultancy company, C & J Resources, as an “alter-ego” to pay for all manner of personal expenditure, from his daughter’s wedding to “treating” himself to private massages. Better yet, Sefton has accused Ellerton of racketeering, in a series of explosive allegations. This must have come as a shock to dear old Jim, who suddenly now finds himself facing possible criminal investigation. Read the full details below.
Tom has just laid the boot into his favourite old whipping boy, Sefton Resources (SER). I am meant to be banned from writing about Sefton and I’ve got to admit the subject is a little tired, but somebody has to speak up for the current management team. Under assault from all sides, including from supposed friends, the current board has not received the credit it deserves for simply not just walking away and letting the company collapse.
Oh dear. Oh dear. Oh dear. It just gets worse and worse for AIM casino poster boy Sefton Resources (SER). The company has just fessed up that the sale of its shite Kansas assets is off. And there is more: the bottom line is that another bail-out placing may be imminent.
Last week we ran a caption context in honour of convicted armed robber Daniel Levi, which also celebrated the effectiveness of the London Stock Exchange in "policing" AIM. This "triggered" a fantasticly witty response from you all and deciding the funniest has not been easy. Below we announce the winner, with special mention to some deserving entries.
I’m on my way to Warwickshire, the Mrs has a meeting in London and so – until Didcot at least – we are on the same train. She has bought The Independent, a truly dreadful publication, which on every issue (lazy doctors, murderous Jew-hating Palestinians, economic migrants, the works) is on the wrong side. But I find myself reading it anyway. How I suffer. And then on page 53…it is me.
With an apology to Twitter member @hardy682 for stealing his copyright, we now invite readers to submit captions to this most amusing and topical picture. A bottle of champagne to the winner, to be paid for by Ben Turney out of his fee from The Times for exposing “Bank Robber David” the former chairman of Sefton Resources. Entries will close at midnight on Sunday. Over to you.
This morning The Times published another challenging piece concerning the current business relationships of convicted armed robber Daniel Levi, aka David John Hopkins, aka Brokerman dan. After his “voluntary” confession on Saturday night, it looks like Levi engaged in a little digital spring-cleaning over the weekend. Below I can exclusively reveal the evidence that exposes the latest attempt by Levi to airbrush awkward relationships from his public life.
Oh dear, a man who backed Jimmyliar Ellerton versus Levi & Winnifrith and now backs Dan Levi/ armed bank robber David John Hopkins against all comers is purile fantasist/blogger California Joe a man who attracts fake twitter followers like shit attracts flies. His outpourings today are such piffle (printing inconvenient truths described as gutter journalism) they merit a wider audience. We offer no comment other than “up the medication pal.”
It is well known that ShareProphets has a long-standing business relationship with ADVFN (AFN). Not withstanding this, the Daniel Levi affair has raised a number of questions regarding his relationship with ADVFN, which do require answering. The easy thing for us to do would be to ignore these questions, but it is our responsibility to report on this story thoroughly and comprehensively.
If you want me to analyse a stock for you just drop me a line at [email protected] - Today I look at Eco Animal Health Group (EAH), New World Oil & Gas (NEW), Sefton Resources (SER)
The Sefton Resources (SER) market abuser Chris Oil has given Ben Turney and ShareProphets a “final warning” that he must not ask any more questions of him or write articles about him or he and this website will be reported to the Police. Yeah right.
There were many twists and turns in the six week investigation that culminated this morning in The Times’ exposéof Sefton Resources’ (SER) former Executive Chairman, Daniel Levi, as a convicted armed robber. Revealed by Sefton to have kept his former name David John Hopkins a secret, this was the catalyst for the hunt to discover what Levi had been so desperate to hide for so long. Below I share what I can of the evidence that primary research uncovered.
We should be grateful to convicted armed robber Daniel Levi. Really we should, for he has proven, in the most graphic manner possible, so much of what is wrong with AIM. Formerly known as David John Hopkins, Levi has spent sixteen years in jail for two separate convictions involving firearms. There is no indication that either conviction is spent. It will now be a source of major embarrassment both to the London Stock Exchange and the Financial Conduct Authority that a man with Levi’s background was able to become Executive Chairman of Sefton Resources (SER), without anyone picking up on his criminal past.
I knew about this last week, but yesterday afternoon ex Sefton (SER) boss Brokerman Dan (Dan Levi) outed himself and revealed that he had in a former life spent 16 years in high security prisons for a variety of offences some involving firearms. Essentially as a young man he was a member of drugs gangs in the slums of Manchester. He is now coming clean, I believe, because he got a call from a National Paper asking for comment about a story it was planning to run.
Last Friday it was announced that Dan Levi (Brokerman Dan) and the market abuser Chris Oil had upped their stake in Sefton Resources from 9.4% to 10.2% and sources tell us that this is a prelude to them calling an EGM to ditch the board and install Clem Chambers & Mike Hodges of ADVFN as directors with Levi as a consultant.
We have a lot of business dealings with ADVFN PLC and so writing this is very hard but we cannot give ADVFN boss Clem Chambers an easy time on the basis of our relationship, because the latest news of boardroom excess at Sefton Resources (SER) is just not acceptable.
Sefton Resources (SER) is a company that I’ve been negative on for a number of years, and still am now!
Before I turn to Sefton and the wider issue of impairment (or not) on the AIM casino I am still bristling after being rubbed up the wrong way last night by an apologist for convicted felon Charlie Gibson and so until I get bored I wish to remind you of why Gibson is a felon (HERE). Then onto today's business. To give flip flop a break there are a few comments on Sefton's results and why I am still a bear. Then the issue of asset impairment and today's Kansas news vindicates a lot of what Dan Levi and I said about Jimmyliar Ellerton. But it raises the wider issue of inadequate impairment reviews on the AIM casino.
Brokerman Dan feels that this website has slighted him in suggesting that after a flurry of bullish tweets on Sefton Resources (SER), he and his little friend Chris Oil sold their shares last week. Dan Levi insists they have sold none. Okay.
On Thursday Raylene Whitford, the FD and only executive director at embattled Sefton Resources (SER) was asked about the possibility of boardroom change and stated that "The last thing Sefton needs is another person in the company trying to line their pockets”. We asked you who you thought she was referring to. You were in no doubt.
In a podcast organised by a well-known utter clown that went out on Thursday Sefton’s pouting FD Raylene Whitford slammed certain folk agitating for boardroom change with this biting comment "The last thing Sefton needs is another person in the company trying to line their pockets”. Ooooh er missus….
This evening's ShareProphets Translation Service helps readers appreciate the subtle nuances of Broken Man Dan's Twitter feed. Broken Man Dan has a habit of regularly spring cleaning his Tweets, so we've had to move fast as lightening. While Dan, Dan the Broker's Man has been spreading the love for Sefton, we've been keeping an eye on Sefton's price and volume action. Sefton closed down 16% on the day, on 741,907,136 volume. This was after the company announced a great leap forward on its road to recovery. We are certain this is just a very odd coincidence.
At long last clear daylight is now shining on Sefton Resources’ (SER) much anticipated deal to bring in a new CEO and asset to the business. Although yet to complete, with hurdles still to overcome, this is genuinely starting to look like a recovery story people can believe in and get behind. That is so long as the various pantomime characters pursuing the company don’t foul things up with their tomfoolery.
Doc Holiday has just published a phone message left to him by our favourite flavour of the month, market abuser (HERE, HERE and HERE) Chris Oil. It seems like dear old Chris got wind of Sefton’s placement before it happened and called Doc to let him know the good news. We provide an exclusive transcript of the message below.
On Friday Sefton Resources (SER) received an email from Daniel Levi requesting that it make wholesale boardroom changes. Levi states that he wishes to spare the company the uncertainty and cost of an EGM and so has made this approach to avoid such unpleasantries.
Brokerman Dan (Levi) and the market abuser Chris Oil are letting it be known that they are going into Sefton Resources (SER) to "save it" by calling for boardroom change. With their known associates among the bulletin board moron and PR totty community I am sure they already have 10% of the enlarged equity and could call an EGM. Dan has already told me by email that he wants to oust directors. Questions questions.
Just in case anyone is bonkers enough to believe that Daniel Levi Associates is genuinely able to fill in the paperwork properly to call an EGM at Sefton Resources (SER), we now present a helpful translation of this self-styled corporate raider’s highly entertaining last attempt at requisitioning a meeting. (Spoiler alert -- It didn’t go too well).
There is no Bulletin Board Moron of the week thread but I felt compelled to pass on this gem speculating about what the market abuser Chris Oil and his manservant Dan Levi were up to at Sefton. The mind boggles. Over to some loon on twitter who speculates:
Just before the close, Sefton Resources (SER) announced that Daniel Levi and market abuser Chris Oil had bought back into the company. This has provoked a furious reaction and it will be very interesting to see how the market responds today. After the first time Mr Levi “saved” Sefton, the company’s share price went up nearly seven times, to an eye-watering 0.39p. Oblivious to the fact that Mr Levi failed to deliver his operational promises and sold a massive chunk of his stock near the unsustainable and over-promoted top, Seftonologists still saw good value in this cash shell with little cash, no assets and an £11.3million market cap. Will this bunch fall for the shenanigans again or will it finally learn its lesson and pay heed to the obvious toxic danger signals now slapped all over this stock?
On May 8, the market abuser Chris Oil tweeted out that folks should buy shares in Sefton (SER) as - at the same time - he and Brokerman Dan sold their entire 6% holding at between 0.35p and 0.4p. Yesterday morning Sefton announced a bailout placing at just 0.065p. Guess what happened next?
Another day and another exclusive. Today we bring you the court filing made by disgraced Jimmyliar Ellerton as he tries to screw not $250,000 but $400,000 from the company. It will not make pleasant reading for Sefton (SER) shareholders but I am happy to appear as an expert witness for the company as the claims he makes are - as you would expect - packed full of lies.
This morning the inevitable happened. Sefton Resources (SER) placed at 0.065p. Shareholder anger is entirely understandable, but whose fault is this mess?
We all know that Sefton Resources (SER) is running out of cash fast - it is down to £250,000 which is not enough to cover either its legal bills in fighting Jimmyliar Ellerton's spurious legal claims or the legal & AIM cash costs of doing a trasaction, if indeed it is able to do one. And so when's the placing?
The greed of disgraced ex Sefton boss Jimmyliar Ellerton is now revealed in full. Sefton Resources (SER) has fessed up that Jimmlyliar has filed a claim what it has not admitted is the quantum sought. Always keen to help, let me fill in the dots...
Hot on the heels of his hilarious appearance at Zak’s Traders Café last Monday, ShareProphets has just learned of yet another deleted Tweet from self-styled multi-millionaire City trader and well-known “invetement” writer Chris Oil. Once again, Chris thought he could escape justice and cover up his market abuse, but once again he was wrong. Our faithful bloodhounds are on the trail and will not rest until this serial market abuser is dealt with by the FCA.
Now my interest has been reignited in the Sefton Resources (SER) story, I’ve been pursuing various investigative leads and have uncovered something pretty surprising. It look very much like Chief Financial Officer Raylene Whitford is a genuinely decent person, who is doing her level best to save this company. Unlike certain previous executives, Miss Whitford is not a serial market abuser, intent solely on lining her pockets at the expense of Sefton’s shareholders.
As reality slowly dawns on anyone foolish enough to have bought into the recent rampant over-promotion of Sefton Resources (SER) and the stock price craters, shareholders can take comfort from tonight’s lavish extravaganza being hosted at one of London’s most expensive venues. Well, at least some of them can.
Back in the good old days, when our dear friend Jim Ellerton was hocking his wares around the busy streets of London, shareholders in Sefton Resources (SER) were at least able to delude themselves with pipedreams of Kansan gas riches and a Californian heavy oil rush. As we all know, those promises of future wealth were a fantasy, deliberately designed to fund Ellerton’s lavish Hawaiian existence and taste for expensive hotels. Sefton was the ultimate lifestyle company, but what of today’s myths about this cashless cash shell?
Sefton (SER) shares have fallen to just 0.13p to sell. How wise market abuser Chris Oil was to sell all his shares on 8 May at 0.37p as he tweeted out that folks should be buying. But in light of the collapseroonie I have a brief question for the company's broker Cornhill.
You may well remember the dirty tricks camoaign that Sefton Resources (SER) under Jimmyliar Ellerton waged against myself and Dan Levi when we exposed his lies and fraud. One smear was to plant a suggestion/lie with a "friendly journalist" - or scab as I would call her - in the Daily Telegraph suggesting that Dan was short of the stock. Now it seems as if New Sefton is waging the same campaign against me.
Oh dear. Oh dear. Oh dear. Jimmyliar Ellerton is back and Sefton (SER) shareholders now face a potential wipeout. Congratulations to Chris Oil for telling folks to buy at 0.37p as he dumped his entire holding. The shares are now 0.17p to sell and could well head back towards zero after news today. Well done to Chris Oil and all connected to him for their pump and dump.
Shares in Sefton are drifting today - down to 0.27p - but the company is still capitalised at almost £8 million but is now down to its last £300,000 of cash and as yet has no CEO and no deal. The share price discounts a lot but according to certain bloggers deals are in the bag. Perhaps it is time for Sefton to come clean on 4 critical points:
Featuring AFC Energy (AFC) Kea Petroleum (KEA) Northern Petroleum (NOP) Sefton Resources (SER) Tethys Petroleum (TPL) Xcite Energy (XEL)
So much for all the talk of big deals. So much for those assurances that the shares were heading to 1p. So much for the requests to “get behind us” from crony capitalist Brokerman Dan. The man who learned all about stock pumping from the great David Lenigas, has today dumped 60 million of his 86 million shares in Sefton Resources (SER) sending the stock sliding by 25% to 0.27p. This stinks.
Old Sefton run by Jimmyliar Ellerton responded to criticism from myself and Brokerman Dan – in the days when he was a journalist not a crony capitalist – with a smear campaign sanctioned by its still current lawyers Pinsent Masons ( as you can see HERE). Sefton may be changing its name to Stryker but the own goals and old habits continue.
Shares rise for no reason, the company say there is no reason, they fall, a few spoofers make money. In other cases stocks are being ramped in ways that are completely outside the rules of the game. Sorry to do this but I have to use the weekend's nonsense from Sefton (SER) as an example. Either there are rules in which case this stock needs suspending and some folks getting a slap on the wrists or there are no rules in which case the hoods are running the asylum and AIM is officially not an honest place to do business. I also look at Mosman Oil & Gas, Daniel Stewart ( apologies timescale a day out on that one) and a few other POS stocks.
There is a false market in Sefton and China fraud Gate Ventures and the FCA and AIM Regulation do nothing to protect investors. That is a crime. I discuss that at the start of this podcast and then go on to do the hard maths on Sefton based on the claims it has made and to demonstrate clearly why the shares are 80% overvalued. Ignore the hype and bluster and the twitter and Bulletin Board insanity just do the hard math my friends and you can arrive at no other conclusion.
Comrade Brokerman Dan seems to have taken offense at my earlier podcast about the end of his career as a crony capitalist as boss of Sefton Resources (SER). I send this postcard to my friend with respect. Do not deny others an opinion. I praise you mightily for what you have done but I criticise today's payoff of £50,000 and explain why it is wrong.
With a fifty grand golden thank you my pal Brokerman Dan has ended his career as a crony capitalist at Sefton Resources (SER) after just two months and twenty days. Back in the welfare safari of the Manchester slums that £50,000 will go a long way, just think of all the rats you can buy to feed the kids a roasted treat, think of all the crack and illegal cigarettes you can ship in to sell at the school gates. I imagine that Dan now has enough to buy half the sink estate. I discuss Dan's payoffs, lessons I am sure he has learned, CEOs on twitter and where this leaves Sefton
Brace yourself Pinsent Masons, Jim Ellerton and others as your dirty tricks and scumbag activities are revealed in full. I explain how I got onto Sefton, who were the good guys and who were the bad guys and how I nailed the latter in the end. Some folks have serious questions to answer. This video is of a session from UK Investor 2015.
If you are up in London for UK Investor show on Saturday and fancy a quiet and relaxing evening beforehand do not bother reading on. But if you fancy a drink and a pizza with new Sefton (SER), aka “mancslumboy” Brokerman Dan, Clem Chambers of ADVFN and their uber-foxy PR bird plus a sprinkling of ShareProphets writers and other CEOs attending the show, all will be gathering from 6 PM
Jimmyliar Ellerton, the disgraced former boss of Sefton Resources has been hoisted by his own petard and has now been told why he has no claims against Sefton Resources –it all goes back to the Gary Dillabaugh case and to some more recent issues with his – pro tem - trouble and strife, the foxy Carol.
As part of the rebranding of the disgraced but now transformed Sefton Resources (SER) I can reveal that the company is now considering a name change and that one idea that has been considered is a variation on Oakley Oil & Gas.
If life at AIM's most entertaining stock could not get any more bizarre we learn today that my pal Clem Chambers, the boss of ADVFN (AFN) has joined Brokerman Dan on the board of Sefton Resources (SER). Clem is not an oil man but will no doubt offer Dan valuable guidance on corporate governance issues.
Brokerman Dan has called in from the Manchester Slums to say that he is not earning £1 a month as the saviour of Sefton Resources (SER) but will be the lowest paid executive on AIM earning just £1 a quarter. Even by the standards of the welfare safari park known as Moss Side that seems a trifle low but we at ShareProphets care and so our writers will tomorrow be gathering in Clerkenwell to record our latest Charity Single #FeedTheSlumBoy. All proceeds from the single will be sent direct to the deprived folks on the welfare safari. Once again with apologies to Bob Geldof & Midge Ure:
Dan tipped me off on this and it has just been announced. Mr Levi is to join the board of Sefton Resources (SER) the company that sued him and me for libel (and lost). Dan is to identify new opportunities to take the company forward. And it gets weirder still.
Sadly Mr Rhys Griffiths of law firm Field Fisher who believes in time travel has not been posting. Rhys old boy please do us a favour and stop acting as a bully boy lawyer for Bulletin Board Morons at the LSE.co.uk and become one yourself – you are so entertaining. In the absence of any more gems from Rhys, we must look elsewhere for a winner.
So this is it for the Jim Ellerton Benevolent Fund (SER). After one of the most inevitable and agonising deaths in AIM’s history, at 4pm on Friday, Sefton’s directors finally admitted the game is basically up. The proposed “refinancing” will simply prolong shareholders’ agony for a few more months. The sale of Tapia will deny Sefton its only revenue stream and only the most fanatical Seftonologists believe that the company’s Kansas “assets” can be its saviour. Not ones for reading the fine print of RNSs, this hapless bunch has also missed one important little detail. A vote in favour of the revised Hawker deal will see Ellerton keep his pension.
A number of documents have surfaced relating to the smear campaign orchestrated by the former managers of Sefton Resources (SER) to discredit myself and Brokerman Dan as it pursued (and lost) a libel action against us.
In this penultimate podcast of 2014, I look at Sefton Resources, Peter Landau, Range Resources, Black Mountain Resources, Patisserie and especially Igas and its utterly disgraced CEO Andrew Piggy Austin for whom the questions mount.
The latest word from Sefton Resources (SER) is not good and must give rise to fears that Jimmyliar Ellerton is going to steal its last not totally worthless asset.
And now my friends, the end is near, it’s time to face the final curtain. Meet Sefton Resources (SER) the last company to sue me for libel. Of course Quindell (QPP) never actually served papers it just announced that it was going to and wasted shareholders cash on expensive lawyers (see HERE) to try to stop me exposing its lies and fraud. But for Sefton I have a song from Frank because the Board is Meeting today.
You could not make this up. Disgraced liar and crook Jim Ellerton may well be reinstated as the next Chairman of Sefton Resources (SER) in January. This take from the AIM Cesspit gets worse and worse.
Dr Michael Green is a very, very lucky man. For years he stood should to shoulder with Jim Ellerton and spun many a good yarn about the wonderful potential Sefton Resources (SER) had to offer. Ever the “friend” of private investors, Dr Green was always available to take a telephone call. Always. Tantalising quotes from him blossomed across bulletin boards promising “imminent” riches. There was just one small problem. It was all bullshit.
Just over a week ago, I wrote an open challenge to Sefton Resources’ (SER) board. You will be shocked to hear I haven’t received a response. Notwithstanding the cordial historical relations between Sefton and ShareProphets, I still think my idea is a good one. Sefton’s situation is so dire that only the announcement of the appointment of Hitler, the Devil and, of course, Jim Ellerton to the board could knock the share price any lower. Therefore, the company should seriously consider providing a quarterly (or better yet, monthly) set of unaudited management accounts to shareholders. This would be a radical innovation in AIM’s resource sector. If Sefton’s path to salvation is based on genuine good intent it might even persuade some long-standing bears to reconsider their opinions.
The reporting standards on AIM are atrocious. For roughly nine to ten months of every year, shareholders in the overwhelming majority of companies are left in the dark as to how their company is performing financially. What scarce information there is, is usually out of date by the time of release. The London Stock Exchange really needs to address this glaring weakness, but so long as it maintains the pretence of operating “the world’s most successful growth market” I doubt anything will be done. Sefton Resources (SER) once again provides a perfect case in point why this issue matters so much.
Sefton Resources (SER) shouldn’t really deserve the coverage it is getting on this site at the moment. Even if the proposed refinancing happens, this will only mean the company survives on life support, slowly paying down its bills. Shareholders will effectively be wiped out and the Promised Land of Tapia/Kansas riches tomorrow will be a distant dream. What has happened at Sefton should be a catalyst for the reforms that AIM so badly needs. This company has exposed many of the deep and irreconcilable flaws running through this market. Sadly, I don’t believe anyone in authority is really paying attention and the likes of Jim Ellerton will continue to run riot. That is until they run into the Sheriff and his posse, of course. We are paying attention and today I want to return to this little gem in Sefton’s latest accounts – “included within trade payables above are amounts owed on credit cards in Mr J. Ellerton’s name which are Group liabilities, and not included within the related party balance above.”
Sefton Resources’ (SER) refinancing package has caused quite a lot of bulletin board excitement. The problem is that none of the posters seem to have read or properly understood the terms of the deal. While the bulletin board Seftonologists witter on about 0.8p to 1p a share, they seem not to have noticed the overwhelming lack of interest in this stock. It turns out the market is pretty good at maths and, unfortunately for the Sefton ghosts, is not listening to a word of their murmurings.
Results yesterday from Sefton Resources (SER) were predictably dreadful. The silver lining shareholders had hoped for was that after December 31st 2013 ex-boss Jim Ellerton would no longer be a drain on this AIM Cesspit posterboy. However, it seems not. Jim is still trying to relieve Sefton of any cash it might have. The man has no shame. I call on the current board to take steps towards trying to ensure that Ellerton goes to prison where he belongs.
I have to admire the Dunkirk spirit of certain long term bulletin board supporters of Sefton Resources (SER). Surrounded on all sides, under constant bombardment from land, air and sea, this plucky little group of shareholders will never fail to see the silver lining in the storm clouds gathering over their heads, no matter how bleak or perilous they may be. I’ll write about the dire terms of Sefton’s refinancing deal tomorrow, but in the meantime the company’s results for last year are abysmal. Anyone considering buying into this revival story should have a long hard think about their nearest and dearest before throwing cash into this money pit of a company.
By 4.30 PM tomorrow all companies listed on the AIM Cesspit with a December 31st year end must have published their results or their shares will be suspended. And here are a good few likely contenders as you can see below.
Sefton Resources (SER) issued an “Update on Refinancing” forty five minutes ago. In it, the company says “the Inter-creditor Agreement provides for the Funder to advance additional subordinated loans to the Group in two instalments which will fund up to two 30 day extensions of the existing borrowing facilities with the Bank”. The “Bank” in question is Bank of the West (not specified by Sefton in its announcement) and these “two 30 day extensions” scream loud and clear what a desperate situation this company is in.
Is there something in the DNA of AIM Cesspit listed Sefton Resources (SER) that makes it incapable of keeping its investors up to date with what is going on? That the AIM Regulation team has not ended the long running farce that is “Sefton and the lie machine” by kicking this POS off the market and publicly executing all current and historic directors defies belief. And so a few questions about Sara Creek.
Sefton Resources (SER) the posterboy of the AIM Cesspit limps on with rescue finance now provided by an un-named consortium. The shares are now 0.175p which is almost 0.1p but I will cover that later. They will fall below 0.1p and that is one of my three predictions of doom for July.
Yesterday’s refinancing announcement by Sefton Resources (SER) was the worst possible news for shareholders. It gave them hope; unfounded, unrealistic, naive hope. Rather than just put a bullet in this sick dog of a company and let its poor shareholders get on with their lives, the Sefton board has cobbled together a deal that keeps the show on the road for a few months. As ever with a Sefton RNS, there are critical gaps in the information provided, but what is clear is that the company is still in serious trouble and is likely to lose the rest of its Californian assets soon after July 18th.
Give him his dues, old Jimmyliar Ellerton was always pretty quick to release data showing output in his California Tapia field to the DOGGR. But these days it seems to take an eon to get information. We are now in May and still data for March has not been published by Sefton Resources (SER). Why not? Take a guess.
It just gets worse and worse for Sefton Resources (SER). A few days ago I wrote that I thought the company was “circling the drain”. Today it looks like it is in default. It just hasn’t officially announced that yet. Instead it has (once again) left it to readers of its shambolic RNS statements to piece together just what the hell is going on.
It took a week of chasing, but on Friday I managed to get the Division of Oil, Gas & Geothermal Resources (DOGGR) of the California Department of Conservation to publish on its website the latest oil production figures for Sefton Resources’ (SER) wholly owned subsidiary TEG Oil & Gas. They were appalling.
This spoof downfall video was made in 2013 by my colleague Tom Winnifrith. Looking back on this work it is not only hilariously funny but also very prescient. I see that the shares are now back at just 0.2p (90% down on when Tom started his campaign and way down on the 1.3p price when this video went out).
Yesterday I revealed the dire financial situation Sefton Resources (SER) faced due to its in-default debt - HERE. The company says it is trying to refinance it? Really? Please explain what follows!
Sefton Resources (SER) owes $4.7 million to the Bank of the West. What is the state of play on this loan and has this company been 100% upfront with its investors? Read on.
As ever, the competition to be the Bulletin Board Moron of the week is a fierce one. But the winner this week is a poster on the LSE Sefton Board called Tom Winnifrith. What a total moron and – for what it is worth – a law breaker to boot.
Over the last week, bulletin board speculation of a takeover has helped breathe a little life into this moribund stock. The timing of this death throw rally has been most fortunate for Sefton. Apparently unable to repay Magna in cash, the company has been forced to resort to a death slide funding arrangement (like a spiral just much more direct and faster and much more painful for shareholders).
Despite the running battles I have had with certain bulletin board posters over the last eighteen months (and no, I really couldn’t give a damn if they know my name, because look, it’s at the top of this piece!!!!), I genuinely care for the plight of shareholders in Sefton Resources (SER). What has happened with this stock has exposed many of the systemic flaws, which afflict AIM and can be seriously detrimental to one’s wealth if ignored.
... off you trot to your Hawaiian retirement home. Your time on the AIM gravy train with Sefton Resources (SER)is officially at an end. You too are now a mere shareholder in the business you have told us for years is so keen to build “shareholder value”. I wonder if your perspective on this might now change...
Sefton Resources has today issued a statement regarding the libel case it brought against myself and Dan Levi (Brokerman Dan).The statement and a video I recorded in anticipation of this outside the offices of uber expensive bully boy City lawyers Pinsent masons is below.
The emissary from Sefton Resources (SER) has arrived and left. All will emerge next week.
With many thanks to St Gerry of Adams for the image, Dan Levi and I are happy to announce that the snipers are off duty for a 26 hour ceasefire following a more encouraging communication from the Old Enemy.
The old man with the circle on his jumper threw his papers up in the air leaving the floor strewn with images of sheep in various states of undress. I picked up one picture of a well shaven ewe from Caerphilly and handed it back to him suggesting that she had been well fleeced. “A bit like shareholders in Sefton” piped up the Dormouse. The old man looked pained again.
I am sorry not to report back before on my latest High Court appearance vs. Sefton. Dan Levi and I were up before Master Kay in what is termed a case management conference and nothing much was settled officially. But a lot was said and Dan and I emerged very much on top. I am, in soccer terminology, “over the moon” and Sefton’s lawyers must be “sick as a parrot.”
Sefton Resources (SER) shares have been unsuspended as it has published its half calendar year results which are signed off by competent person Jim Ellerton. Shit, he may have been sacked in disgrace for being a liar and a crook but he is still competent in la la Sefton land. The issue behind the bluster is cash. Or lack of it.
Hi ho, hi ho it’s off to court we go – at 2.30 today Dan Levi, myself and Sefton Resources (SER) crack team from Pinsent Masons and a barrister on £1000 a session will be up in the High Court for another procedural hearing in the great libel cases.
I mean this most sincerely. I would like to thank uber expensive City bully boy lawyers Pinsent Masons for producing an invaluable publication which Dan Levi and I have read thoroughly today, covering the issue of Security of Costs.
Shares in Sefton Resources (SER) remain suspended as we await its (dire) interims. But if there was a change in its trading it should still, under AIM rules, let us all know via an RNS. But it seems that Sefton is not playing by the rules. Plus ca change.
Jeepers – yet another email from the Sefton (SER) cupboard full of skeletons has emerged and this one raises a ghastly question for uber-expensive bully boy lawyers Pinsent Masons. Is it genuine? God only knows but round at Pinsents there is a deathly serious question to answer.
Oh dear, oh dear, - as the great Mike Walters used to say – it appears that whoever has access to Sefton Resources (SER) emails is again leaking some pretty toxic stuff. This time it is the email from Pinsent Masons partner and legal advisor to Sefton, Mr Russell Booker, in which he warns that the libel case against Dan Levi and myself should be dropped. Quite amazingly Pinsents litigation team are still ploughing ahead with the case regardless so racking up yet more fees for Sefton’s poor shareholders to swallow.
An open letter sent today to Chris Mullen, the senior partner at Pinsent Masons. I shall keep you posted on the response.
I wished to speak to Dr Michael Green, Sefton’s IR manager and Company Secretary this morning. And so I called the number on today’s release. A young lady answered the phone & I did not quite catch where she said she worked but I was put through. A voice answered and said that Green was out until after lunch. I asked where I was calling? The American accent replied: “Dr Michael Green’s London office.”
Jim Ellerton was toast the moment his sworn under oath deposition from Dillabaugh vs Ellerton fell into my paws. Late last night the 200 page transcript of that case arrived with myself and Dan Levi. We are still analysing it in full so won’t publish it yet but if Jimmyliar thinks it will could have saved him he is wrong.
Disgraced Sefton (SER) ex-boss Jim Ellerton is still lying. Even though for him the game is up. It gets to the stage where if Jim said that 2 + 2 = 4 or that the Pope is a Catholic I would assume that somehow 2+2 was 5 or 3 or any number other than 4 and that his holiness was now a nice Jewish boy. Jim: what are you on? Acid?
Sefton Resources (SER) has this morning fired its chairman Jim Ellerton from the board. He has been shown to be a liar, a criminal, a man not fit to run a PLC and there will be worse to come for him as the Serious Fraud Office, the US Internal Revenue Service and the Colorado Department of Justice Enquiries get underway. All three have been or will be provided with full dossiers. Ellerton will try to grub whatever cash he can from Sefton but he is toast. Toxic toast.
At 7 AM a week ago liar and crook Jim Ellerton stepped down from the board of Sefton following the publication by me of documents showing that he was a liar and criminal. This was meant to be temporary pending a full investigation which we were told would mean that we would get an update “within one week”.Well guess frigging what?
The more you dig the more you find with Sefton (SER). As such here are a couple of other items for Pinsents, Dr Ali, the NEDs and the Spiders from Mars to add to the internal investigation into liar and crook Jim Ellerton. I take you back to the 2005 Annual Report.
The Pinsents Masons enquiry into Jim Ellerton just got a bit longer thanks to Dan Levi’s smoking bazooka revelation of yesterday which means that without ambiguity one can say that Jim Ellerton is a liar and a criminal. The only question is what sort of criminal? I discuss below where Jim will be prosecuted and for what and what this means for Sefton and me.
With its own lawyer, Russell Booker of Pinsent Masons, admitting that the Sefton libel case against myself and Dan Levi is in tatters with its sole witness (liar and crook) Jim Ellerton having been booted off the board in disgrace and now (in Booker’s words) “discredited,” the way is open for Dan Levi and myself to launch claims against Sefton. Will this sink the ship?
Another day and another RNS from Sefton Resources (SER) but with two names missing. The liar and crook Ellerton is off the board temporarily until he is fired permanently next week while PR guru Alex Walters of Cadogan has also been hung out to dry. As to the content it is pitiful and misleading. The fingerprints of IR buffoon Doc Green are all over this.
Liar and crook Jim Ellertion has stepped aside pro tem from the board of Sefton Resources (SER). That is not enough he should resign at once without compensation and never darken Sefton’s doors again. Dan Levi (aka Brokerman Dan) has written by email to Mr Ellerton to explain why the liar and crook should quit now. Dan writes:
The 666 shirt of investigative financial journalism is out of retirement for a few more days as liar and crook Jim Ellerton clings on to his corporate career for a bit longer. This morning he has stepped down from the board of Sefton (but will carry on as a consultant on full pay) because of “allegations made in two Internet publications against Jim Ellerton, the Company's Executive Chairman, and certain documentation received”
It is being reported by some publications that bear raider Evil Knievil has gone long of Sefton. That is an untruth. Knievil told shareprophets “I have never bought a Sefton share in my life and remain short – target price 0p”
As modelled by ex investigative financial journalist (now in retirement) Tom Winnifrith you can now order your very own Sefton is fucked T-shirt here.
Jim Ellerton told his Nomad and his fellow directors that he had not under oath stated that Sefton had paid benefits to dentist Gary Dillabaugh to offset personal loans made by Gary to Jim. Jim Ellerton lied.
From the ADVFN Sefton thread we have Dave444 with a posting which really is a classic. This sort of moron deserves to lose his cash. And as he is a Sefton shareholder we will get his desserts. Dave writes:
It is now inevitable that shares in Sefton (SER) will be suspended within days. There are only two outcomes and either means that the game is up. It will leave its vexatious libel case against me in tatters, its bully boy lawyers Pinsent Masons ( who tried and failed to get the FSA to stop Dan and I writing about Sefton and indeed all shares in January) looking like total wankers and shareholders losing everything. And here is why.
When did uber expensive Bully Boy City lawyers Pinsent Masons stand down as Company Secretary to POS AIM listed company Sefton (SER)? We do not know. The Sefton website still showed the bully boys as Company Secretary earlier this week. But it has now stepped down (Nomad Allenby has confirmed this) to be replaced by IR genius Dr Michael Green.
A source has today come forward shining light on the dismal failure that was Comtek Resources – Jim Ellerton’s first London listed company. In the exceedingly unlikely eventuality that Sefton (SER) and I meet in court in the great libel trial this source has agreed to come forward as yet another witness. His testimony is critical to those who think that Sefton has any balance sheet backing.
Bear raider Lucian Miers has flagged up another question for Sefton Resources (SER) which its Nomad & the AIM regulation team must look at most urgently if they are to deem whether it is trading as insolvent. And it is a $283,000 question.
This letter was sent earlier today. I have not had a response. BB Loons may speculate on the balance sheet position of Sefton but I am not speculating since I have discussed the matter with Sefton's advisers and having taken expert accounting advice the position is crystal clear – Sefton shares should be suspended at once. Andy they may well be. The letter reads:
To: Allenby Capital, AIM Regulation, Pinsent Masons
Sefton (SER) has issued a trading statement. Given the widespread comment as to its (lack of) cash position you would have thought it would clarify that matter. Its failure to do so is damning. There is either a placing (heavily discounted – shall we say 0.25p?) looming or, in the very likely scenario that no placing can be got away, this company is toast. My calculations suggest that cash net of current liabilities/trade receivables is nil or worse – can Sefton clarify this as a matter of extreme urgency?
The company also declined to comment on the matters arising from the Gary Dillabaugh revelations of yesterday. Again one has to ask why? The answer: because it knows that there is no answer. Jim Ellerton has been rumbled and exposed.
And so what was said? The best I save to the end but…
I have this morning sent a letter to the AIM regulation team and have also forwarded on a copy of the Dillabaugh vs. Ellerton 2009 judgement. The Regulator is already investigating numerous compliants against Sefton but I ask it today to suspend Sefton shares in light of the new documents I have unearthed and the claims made by Ellerton under oath to have defrauded Sefton shareholders
My letter went by email but it is an open letter so I have recorded what was written on video for you all.
So far I have been nice to AIM Cesspit posterboy Sefton (SER) but now it is gloves off time as I reveal how Sefton boss Jim Ellerton swore on oath in Court in 2009 that he had defrauded shareholders in Sefton Resources of hundreds of thousands of dollars. And I have obtained and attach the document that verifies this shock revelation.
A week away and much to my surprise there has been no news from Sefton Resources (SER), the AIM listed POS that is suing me for libel. I see the shares are now at 0.475p, under the MA line which in charting terms, I am told, means they are a mammoth sell ( upside is capped at the MA) the initial target price would be 0.275p. Charting is bollocks. And, in this case, generous, my target price remains 0.01p. But there are two howling questions for Sefton.
A poll was done recently regarding management of a certain company. In it a reader listed the numerous faults of the company but thoughts new management might do better as “…we do have an estimated 3.5 million barrels of oil. That's got to be worth some thing. A new management team could transform us.”
For three years Sefton (SER) has strung its shareholders along, getting away a series of fund raisings, claiming that a report on how to transform the (dire) economics of its Tapia field, written by a certain Dr Ali was imminent. It never appeared as promised.
For three years Sefton (SER) has strung its shareholders along, getting away a series of fund raisings, claiming that a report on how to transform the (dire) economics of its Tapia field, written by a certain Dr Ali was imminent. It never appeared as promised.
Sefton Resources (SER) which is suing me for libel has got no money and is burning cash. It is therefore must do to an equity placing or death spiral drawdown pronto to survive and so has put out its second RNS in two weeks which is not only a ramp but a piss poor ramp to boot. Focus on: how it spins falling output how it announces the same thing twice and how it spins the fact that yet again it cannot publish Comical Ali’s steam flooding report. And remember this is a ramp ahead of a placing which will have to be at a big discount to the current share price.
Some of the Bulletin Board loons seems to have expected me to be in prison or bankrupted by this afternoon after round 1 of Sefton vs. Tom Winnifrith in the High Court. Oddly there were three policeman waiting outside the chambers of Master Kay when we emerged but they were not looking for me. But I am sorry to disappoint the loons…this case is not going to be settled, if indeed Sefton is still around, until 2014.
Jim Ellerton of Sefton Resources still owes former Sefton Company Secretary Gary Dillabaugh $600,000 from a court case more than two years ago. It is Jim's defence in that case that will, IMHO, sink him but this is a story that is only just getting going. The powder keg is under Sefton it is just a matter of when I choose to light the fuse.
A couple of days ago my pal Brokerman Dan a co-defendant in the Sefton libel trial) had his twitter account suspended. He had not been abusing it by follow/unfollow tactics of spammers (he follows only 42 souls) so why was it suspended? Yesterday Dan and his solicitor contacted twitter
Ellerton vs Dillabaugh is a fascinating case. Jim Ellerton borrowed $400,000 from Gary Dillabaugh, a Colorado dentist who also seems to have been Company Secretary for Sefton Resources (SER). Ellerton refused to repay the loan. I described the other day how this went to Court and what the state of play is today.
I am staying in a Greek village where tomorrow I learn how to milk goats. There is no internet. But I have a phone and today I received a call from Gary Dillabaugh, the former company secretary of AIM Cesspit listed Sefton Resources (SER) which exposes Sefton boss Jim Ellerton as a chancer and a rogue.
I ask you to cast your mind back to November 2012. The 15th to be exact. It was when AIM listed Sefton Resources (SER) announced the acquisition of new oil operating assets in Kansas. It was all terribly exciting stuff.
Do not all say it at once but I really am a very nice guy. Jim’s company may be suing me for libel but how he pisses away shareholders cash on a case he cannot win is his problem. I write today in defence of Jim Bob. I am truly such a genuinely nice guy it amazes even me sometimes.
Sefton (SER) has today announced that its June output in Kansas reached 500 barrels. That is up from 450 in May. That sounds good but I suggest that you do the maths because when you do you will realise just how dire this performance is.
Sefton Resources (SER) – the AIM Cesspit company that is suing me for libel – has served up May output data from its Kansas operations. At least we will not have to suffer much more of this rubbish as it is 20 seconds to midnight on the great cashburn clock. Tick Tock Tick Tock.
Jim Ellerton, the chairman of AIM Cesspit listed Sefton Resources (SER) blathers on about creating shareholder value. Well here are two killer statistics for you.
I can reveal exclusively that at last things are starting to happen on the regulatory front when it comes to AIM Cesspit listed Sefton Resources (SER) – the AIM regulation unit is now conducting multiple investigations into the company.
It is hard to know where to start with the 2012 Annual Results from AIM Cesspit listed director lifestyle, ooops meant to say oil production, company Sefton Resources (SER) there is so much in them that begs questions rather than providing real knowledge
Sefton Resources is suing me for libel over my oft repeated claims that it misled investors principally with regard to oil output last summer and that this caused its then adviser Fox Davies to do the honourable thing and resign.
On Thursday I sent a letter by email to Sefton Resources (SER) boss Jim Ellerton asking him to apologise to me for his company's smear campaign against me and to make a small personal donation to the excellent Woodlarks Charity.
I revealed some weeks ago how AIM Cesspit listed oil company Sefton Resources (SER) had instigated a smear campaign against its two principal critics, myself and Daniel Levi (aka Brokerman Dan).
I reported some weeks ago how Sefton Resources (SER) had tried to smear its critic Daniel Level (aka Brokerman Daniel) who is – like me being sued for libel by the joke AIM company – by planting an untrue story in the Daily Telegraph of January 29th.
On 9th April AIM listed Sefton Resources (SER) issued an RNS in which it stated explicitly that March output data from its California field was 3,208 barrels (103 bopd) and that this data had been reported to DOGGR, The California State supervisor.
The views of our esteemed colleague Tom Winnifrith on this company are well known. The outlook from a technical perspective is interesting, if not encouraging.
Commissioned researcher Hardman is paid by companies to publish “independent research” on them. Oddly its research reports on its paying clients rarely come to the conclusion that the client company is overvalued.
AIM listed joke oil company Sefton Resources (SER) is suing myself and my fellow journalist Daniel Levi (aka Brokerman Dan) for libel.