Share Prophets

Friday 19 July 2019 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares


Results

Telit, FinnCap, the Oxymorons at AIM Regulation – the endemic problems of the Casino

Published 8 hours ago

Telit Communications (TCM) is a case study on why the AIM Casino is such a casino. Not only does it claim to be running at a cash profit while c$20 million of cash disappears in the first half of the year. But rules are broken and the folks meant to stop that, Nomads such as FinnCrap, do nothing to prevent it happening. And the regulators then do nothing about it. So other folks feel free to offend.

Audioboom – the scale of the pre placing cash fudge is revealed by shocking interims

Published 1 day ago

I have noted on this website several times how Audioboom (BOOM) has real form in giving a misleading indication of its cash  position and cashburn ahead of a bailout placing. I warned you that it was up to its old tricks again in the final months of 2018 and early 2019 ahead of two placings which came along as predicted. Now the scale of that naughtiness is revealed with dismal interims out today. Here is your timeline.

Karelian Diamonds – settlement issues: more shenanigans on the AIM Casino

Published 1 day ago

I noted yesterday that AIM-listed Karelian (KDR), of the Conroy stable, had issued £100,000 worth of equity following a subscription. Since then, two directors bought in the market but word has reached Deputy Sheriff Towers of settlement issues. With a sack-the-board EGM coming up next Friday this looks a mess: will the shares have to be suspended?

TRIUMPH: Financial Reporting Council says Tom Winnifrith complaint saw £800m First Derivatives have to alter its accounting policies

Published 3 days ago

To those who say that ShareProphets is a joke site run by a fool or a knave, stick this letter below from the Financial Reporting Council where the sun don't shine. Yet again the FRC is marking my homework with A*s.  To those cretins on the Bullettin Boards who abuse me daily I ask: when was the last time you got a regulator to force an £800 million market cap company to change its, overly aggressive and misleading, accounting policies? Ouzo time yet again for the Sheriff of AIM. 

Shenanigans at Conroy Gold and Karelian Diamonds

Published 3 days ago

Two RNSs yesterday from AIM-listed Conroy Gold and Natural Resources (CGNR) and its under-fire little brother, AIM-listed Karelian Diamond Resources (KDR), raised my eyebrows...

Tom Winnifrith Bonus Bearcast: More dissembling from the bullshit merchant David Sefton of AAOG

Published 4 days ago

There is a new RNS out today which begs massive questions which the company refuses to answer. And there is still the matter of the placing at 5.2p and more questions about whether Anglo African Oil & Gas (AAOG) will get that away in light of what it claimed on Friday. This stock is now utterly toxic and uninvestable at 4p. Enjoy.

PWC Leeds office in the soup for a third time – PTSG and the £540k payments to CEO

Published 4 days ago

The other day the Leeds office of PWC was fined heavily and slammed by the FRC for professional negligence in the case of not spotting accounting fraud at Redcentric (RCN). It was the second such notice in two years for PWC Leeds and the office is on a warning. Thus I am sorry to say but it is in the soup again over the massive undeclared payments going, over many years, to the CEO of Premier Technical Services Group (PTSG), Mr Paul Teasdale, which I exposed in full on Saturday HERE. Now here is why PWC is in the soup…

EXPOSE: Premier Technical Services Group - now about that material undisclosed related party deal involving your CEO

Published 6 days ago

I am worried that Premier Technical Services Group (PTSG) may have accidentally failed to make appropriate disclosures regarding a very material related party transaction involving Paul Teasdale, the CEO and a monster annual dividend he seems to have been receiving from one of the subsidiaries. 

Haydale – when a trading update doesn’t update anything: Still a SELL

Published 8 days ago

I’ve been a bear of AIM-listed Haydale (HAYD) all the way down from 120p, and saying sell at 78p, to today’s miserable 1.775p but this morning’s trading statement gives me no reason to change my stance. I may have closed out in my five slam-dunk sells for this year but even then I warned that  I would still be inclined to sell and I certainly wouldn’t buy here. Well, we’ve had a trading statement this morning – more remarkable for what it does not say rather than what it does, and that is never a good sign.

St James House (formerly Boxhill Technologies plc) – still a dog as results show, accounts breach IFRS and mislead big time

Published 8 days ago

Lib Dem grandee Lord Timmy Razzall may have changed the name of Boxhill to St James House (SJH) but this company which has been mired in so much corruption and fraud remains an uninvestable uber dog even by the standards of  the AIM casino. Results earlier this week were covered in bearcast yesterday but perhaps merit further scrutiny. They are shocking, breach IFRS on numerous counts and quite simply aim to decieve. Nomad Allenby should be walking.

Redx Pharma – great news, but…..

Published 9 days ago

AIM-listed Redx Pharma (REDX) has released great news in that it has sold one of its products for $3.5 million upfront plus up to $203 million in milestone and royalty payments, plus a cut of any sales. That’s a lot of cash – or it may be, if all the hurdles are passed successfully – but of course, those hurdles may not be quite so easy to clear, and it certainly won’t be any time soon. The shares are up heavily by 124% at 14p on the news, but I just wonder if the market is suffering from over-enthusiasm.

Expose: TrakM8 needs to restate results announced yesterday thanks to PWC Screw-up

Published 10 days ago

The critical point about yesterday’s full year numbers from TrakM8 (TRAK) is that they show a company with zero earnings visibility, burning cash and with a drowning in debt balance sheet which is thinner than an Ethiopian super model when it comes to tangible net asset backing. I do not wish to sound like an accosting pedant and geek but there is another issue: auditors PWC Southampton have screwed up and the numbers need to be corrected and re-issued. Let me explain:

Anglo African Oil & Gas Disgraced boss David Sefton misleads investors again – SACK THE LOATHSOME BASTARD NOW

Published 11 days ago

After intense pressure from ShareProphets and from those who were signed up to take part in a £2.7 million placing at 5.2p and are threatening to pull out, disgraced David Sefton and Anglo African Oil & Gas (AAOG) have made a statement. But the turd Sefton has misled investors again. How is Nomad FinnCap putting its name to this? Does FinnCrap have no shame? As Sefton dissembles I have some new revelations below....

Anglo African Oil & Gas Disgraced boss David Sefton P45 watch – Day 7, FCA Now Contacted

Published 12 days ago

On July 1 we revealed that having raised cash in a placing he said was not needed just a few days prior at 10p a few months ago, David Sefton was trying to raise £9 million more at c5p for AIM promote Anglo African Oil & Gas, HERE. By Wednesday we exposed the undeclared related party company screwing nature of that fund raise HERE. On Thursday we flagged up that the placing part of the fund raise was in trouble HERE. Now on day seven of the David Sefton P45 watch I have written to Mark Steward at the FCA demanding he act. The letter follows....

LSE AIM Statistics for June 2019 - these truly are awful stats for the “worlds leading growth market”

Published 13 days ago

The joke management of the London Stock Exchange (LSE) continues to insist that the AIM Casino is the world’s leading growth market. But the hard data from June 2019 shows once again that the fat cat LSE bosses are ‘avin’ a giraffe.

Anglo African Oil & Gas shares tumbling - urgent statement needed on two matters

Published 15 days ago

Having announced a £2.7 million placing at 5.2p and a shockingly bad undeclared related party death spiral to bring in another £5.5 million yesterday shares in Anglo African Oil & Gas (AAOG) are tumbling are are now just 4.4p to sell. An urgent statement on two matters is needed. Firstly:

Purplebricks just a few more bearish observations

Published 15 days ago

For a company that will have net current assets of somewhere between SFA and £30 million by Christmas and which will again burn cash this year the valuation of Purplebricks (PURP), £314 million at 103p, is bonkers. In light of that I revisit full year numbers from Wednesday and ask you to consider a stack more red flags.

EXPOSE: Anglo African Oil & Gas placing - the worst form of death spiral financing in all but name, undeclared related party deal - this stinks

Published 16 days ago

News this morning, as I predicted on this site on Monday HERE of an £8.25 million raising by Anglo African Oil & Gas (AAOG) looks to be a disaster for existing shareholders once again under David Sefton's watch. 

Telit – has its broker quit and the company neglected to mention it?

Published 17 days ago

On May 22nd  2019 Telit Communications (TCM) issued an RNS with co broker Berenberg as one of the contacts. From the RNS of June 6 onwards Berenberg’s name has been missing from all releases. So is there, yet again, something that this company, founded by mortgage fraudster and fugitive from justice Uzi Katz, is not telling us?

Patrick Abbott (ex Versarien) in unhinged twitter meltdown against Tom Winnifrith - what sort of company would employ this nutter?

Published 18 days ago

Patrick Abbott clearly does not like the fact that I reveealed and published the fraud charges against him that could see him to a 20 year stretch and which AIM uber-ramp Versarien (VRS)  finally responded to by, eventually bowing to my pressure, and parting company with him last week. Last night he went into a twitter meltdown as you can see below. I ask you what sort of company employs a nutter like this in the first place?

Notes from Underground - A Visual History of the Largest Companies by Market Cap

Published 19 days ago

I decided to spare everyone my annual paen to Canada, as it is Canada's National Holiday tomorrow, and stay within ShareProphet's wheelhouse. This chart, from VisualCapitalist.com shows the conversion of the worlds largest companies from providing a wide-range of goods and services in 1999 to being tech (and Johnson + Johnson) in 2019.

BOMBSHELL: Versarien is its US oil graphene order a total spoof? A hard look at the maths – what it won’t tell you

Published 20 days ago

Yesterday, shares in Versarien (VRS) raced ahead by 10% as it announced an order with an (un-named, natch) US oil and has explorer for 12 kg of its high purity graphene nano platelets (GNP-HP) integrated into a polymer masterbatch by Neill Rickett’s great British Company. But the RNS did not spell out the value. And doing his, almost, weekly ramp on Justin the Clown’s promotional limp dick podcast he again refused to say. So here is some hard maths: I suggest this order may be a spoof.

AIM fraud Origo Partners – hero John Chapman puts the boot in to ex board, crooked advisors, ex Nomad in excruciating detail

Published 20 days ago

Fraud Origo Partners (OPP) is one of the few remaining stocks of our AIM-China Filthy Forty. One might wonder if there is hope given that it is still here but Chairman John Chapman has offered up its FY18 accounts which are truly dreadful (again) and his chairman’s letter is pretty explicit as to why. In short, Origo shows everything that is wrong with AIM: the transfer of wealth from the many (shareholders) to the few. Read it and weep Marcus Stuttard, the head of AIM and Sham Sheriff – this is your system.

Shock ‘em at Brockham – disaster for Angus Energy, Catastrophe for UK Oil & Gas, The Weald basin promote died today

Published 21 days ago

Oh dear, oh dear, oh dear.  This is a bleak day indeed for the Weald basin, Horse Hill, and all the fools who believed Lyin’ Steve Sanderson and shameless ramper Big Dave Lenigas. The dismal results first thing, from UK Oil & Gas (UKOG) were enough to justify ouzo on my cornflakes at Sheriff of AIM towers but mid morning saw news from Angus Energy (ANGS) and its Brockham site which is disastrous for those who disseds me and believed Lyin’ Steve and Dave. It is the death knell of the shameless and morally repellent, Wield basin (bigger than Saudi Arabia) promote.

Union Jack Oil & Chris Oil, share trades and placing – questions that need answering

Published 21 days ago

I suggested that Union Jack Oil (UJO) was planning a placing in yesterday’s bearcast. And lo and behold the Sheriff of AIM is right again, £2.25 million has been raised at 0.17p.  But this raises big questions about the share trading activities of Mr Chris “Uranium” Oil, a man who has featured on this website often enough.

The Sheriff of AIM gets yet another scalp – Patrick Abbott & Versarien: GOTCHA!

Published 22 days ago

The demented Bulletin Board and twitter followers of Versarien (VRS) boss Neill Rickets claimed the court documents I published HERE covering two fraud charges were false. Or that I had the wrong Patrick Abbott. Or that I was just making it all up to please my masters in the global shorting conspiracy.As ever the morons were wrong. Versarien has finally bowed to our pressure and let Abbott, who was only appointed a few months ago, go as head of its US operations.

SCANDALOUS: 67% Neil Woodford owned dog RM2: I demanded a statement, it’s here and its grim

Published 23 days ago

On Monday I demanded that RM2 (RM2) make a statement to cklarify its (grim) financial position. Today it has obliged and this maker of “disruptive” pallets where Woodford Investment Management funds have a 67% stake looks to be utterly fecked.

Today's Primary Bid offer is Sareum - No thanks it's a dog

Published 24 days ago

ShareProphets earns a small commission any time a reader who registered with Primary Bid via ourselves subscribes for one of its offers. For that reason we urge you all to sign up HERE. But today's offer, Sareum, (SAR) is a total dog, as I have noted often enough on this website, so since we have integrity, we advise you to make us no money and avoid this hound like the plague.

Trafalgar Property – 3.11pm update….uh-oh – PLACING AHOY!! Sell

Published 24 days ago

have been a bear of AIM-listed Trafalgar Property (TRAF) ever since I first wrote about it way back in 2015, when I noted that in the middle of a housing boom the fact that the company had again lost money. In April of this year I noted that it had only delivered one set of profitable accounts out of five since it listed on AIM, after the company had claimed to be well placed to deliver and claimed it was exciting times. With that background, we had an update at 3.11pm today. Of course,as Steve Moore has often noted, intra-day updates are rarely good news…..

Neil Woodford dog RM2 shares collapsing – statement needed ASAP

Published 25 days ago

A week ago shares in “disruptive pallets” Neil Woodford dog RM2 (RM2) were 38p. Today they are off by almost 20% at 28.5p and surely a statement is needed. It cannot be good news. And this is why.

Ariana – share price surges though next target, time to cash in a little more (but hold the majority strongly)

Published 28 days ago

Well that was quick! A few days ago, having been hoping to offload some AIM-listed Ariana (AAU) at 2p for months and months the shares finally gave me the chance, so I moved to strong hold with a next target of 2.5p. All of a sudden the gold price surged – and so did Ariana’s shares: we have reached 2.5p. Hooray! But now what?

Ouzo O’clock in North Wales, misery in the valleys as IQE warns (as predicted)

Published 28 days ago

The Sheriff of AIM is surely entitled to a celebratory breakfast ouzo at his hovel in North Wales? On Wednesday I flagged up a profits warning from the Krauts at Siltronic and suggested that IQE (IQE) was likely to follow. Less than 48 hours later the Cardiff dog duly barks. As a long term bear I have repeatedly warned silly sell side analysts, Thirsty Paul Scott and others that this company is a crock…once again I stand vindicated. And so to detail….it is grim.

Big Dave Lenigas ousted from Doriemus...a prophet is without honour

Published 30 days ago

And he went out from thence, and came into his own country; and his disciples follow him. And when the sabbath day was come, he began to teach in the synagogue: and many hearing him were astonished, saying, From whence hath this man these things? and what wisdom is this which is given unto him, that even such mighty works are wrought by his hands? Is not this the carpenter, the son of Mary, the brother of James, and Joses, and of Juda, and Simon? and are not his sisters here with us? And they were offended at him. But Jesus said unto them, A prophet is not without honour, but in his own country, and among his own kin, and in his own house. And this brings us to Big David Lenigas.

Liar, and alleged fraudster, Patrick Abbott of Versarien - exposed with two new court documents

Published 30 days ago

Last week I revealed that the man who was to take Versarien (VRS) forward in the USA, Patrick Abbott faced two new charges of fraud which could see him going to jail for 20 years and that his lawyer had quit. Abbott, a man whose skills will be "invaluable" to Versarien according to boss Neil Ricketts, responded on twitter saying this was fake news from TW. Oh dear. The indictments are below, Patrick you are a liar.

Bluejay Mining – Show me the money!

Published 30 days ago

News yesterday from BlueJay Mining (JAY) continues to underscore my view that the company needs to carry out an extensive capital raising exercise in order to progress on its Dundas field in Greenland. The word on the street is that it is sounding out mugs about a placing at 5p a pop.

New Big Short Dossier - are Neil Woodford's pals at IP Group running out of money & its opaque accounts

Published 31 days ago

In a bearcast last Thursday I discussed the complex relationships between IP Group (IPO) and disgraced Neil Woodford. They stink and IP, at 74p capitalised at £784 million, will be dragged into this scandal and that alone makes it a toxic investment. But there is a bigger reason why this company is a compelling short...

A Letter to Bobbie Hilliam at Versarien’s Nomad Canaccord

Published 33 days ago

In light of Saturday’s bombshell revelation HERE I have written to the Nomad of Versarien (VRS) suggesting a statement is needed pronto. The letter is below.

BREAKING: Versarien Patrick Abbott update – oh dear he now faces up to 20 years in jail, lawyer quits

Published 34 days ago

Oh dear, oh Dear. You may remember how on March 21, Versarien (VRS) announced with great fanfate that it had appointed Patrick Abbott to spearhead its US expansion. Lucian Miers then pointed out that Mr Abbott faced a few legal problems. And so on April 4 Versarien stated:

Karelian – the sack-the-board battle hots up

Published 36 days ago

I noted a couple of weeks back that it was beer and popcorn time at Prof Richard Conroy’s smaller lifestyle enterprise, AIM-listed Karelian Diamonds (KDR). The battle is hotting up nicely...

He’s ‘avin’ a giraffe – king fraudster Rob Terry wants to sue Watchstone (Quindell as was) for £14.7m

Published 36 days ago

You could not make this stuff up.  Watchstone (WTG), Quenron as was is trying to sue its founder, the king of the fraudsters, Rob Terry and others for breach of the share purchase agreement entered into by the Company with Mr Terry and others on 28 April 2011 in respect of the sale and purchase of shares in Watchstone Limited. But now Terry is seeking to counterclaim for £14.7 million. His claim is utterly ridiculous but will waste more of Watchstone’s dwindling cash pile.

BREAKING: Neil Woodford begs IFAs to stick with him in an email which is just not true

Published 38 days ago

Disgraced fund manager Neil Woodford has sent an email to IFA's begging them to not only stay with him but to send a templated email to their clients urging them to do the same. The Woodford email is below and, sadly, scores low on the veracity front.

Diversified Gas & Oil: investor lunch, FRC update and chapter & verse on massive looming restatements & interims

Published 39 days ago

I am delighted to say that my good friends at the Financial Reporting Council have acknowledged receipt of my dossier on Diversified Gas & Oil (DGOC) and are now looking at accounts which clearly need massive restatements. Meanwhile I see that the company is hosting a lunch for private investors on June 26 in London. Sadly I’m busy that day, as it is the day major renovations start at my Welsh hovel but if you want to attend email James Husband DGO@buchanan.uk.com . More pressing are the forthcoming interims….

The Corruption of the Deadwood Press: The Mail on Sunday, Jim Mellon and Agronomics

Published 39 days ago

Agronomics (ANIC) is an AIM listed firm which knew full well on Friday that it was set to raise £4.5 million at 5p - as against a 5.5p mid. So here is what to do. Leak the story to the fraudsters fave journalist, Ben Harrington, who will give it an utterly misleading write-up in the Mail on Sunday in return for the "scoop." MoS readers fill their boots on Monday and the shares move higher - they are now 6.5p. So Harrington and the Fail on Sunday get another "scoop", the Spiv clients of broker Peterhouse get to flip the stock and thank Peterhouse which earns 5% to pay for the coke and hookers and the company is cashed up.  The only folk who get screwed are readers of the Fail on Sunday who are buying shares on the basis of completely fake news.

Who exposed Neil Woodford - laughable fake news from the Sunday Times cocksuckers

Published 40 days ago

The first article where we warned about Neil Woodford was in 2015. By 2017 our coverage was detailed and on an industrial scale taking aparty every aspect of the Woodford empire. As Bloomberg stated yesterday, we  at ShareProphets, were first. The deadwood press, including the Sunday Times just blew the great man off. But today we learn , as you can see below, that it was a Sunday Times investigation on March 3 2019 that FIRST exposed what was going on. FAKE NEWS!!!!

Fat Bastard Malcolm Graham Wood & the Bulletin Board Morons time to apologise – Frontera Resources officially a zero

Published 42 days ago

Oh dear. All the abuse I got from folks who insisted that I was wrong in calling out the fraud that was Frontera (FRR). All those folks who quoted the whore blogger, fat bastard Malcolm Graham Wood who took undeclared payments from Frontera to say how cheap its shares were. Will the whore blogger apologise to those who believed him? Will the morons apologise to me?  For today IG is paying out on short positions valuing Frontera shares at 0p. Its bust.

Diversified Gas & Oil - over to PWC to explain why its accounts must be restated

Published 42 days ago

As I noted in my earlier bonus bearcast, Diversified Gas & Oil (DGOC) or its agents at Cenkos, Stifel and Mirabaud are almost certainly briefing the dumb fucker insitutions who own this stock that I do not understand IFRS 3 and so my claim that its accounts grotesquely overstate "profits" and must all be restated are hogwash. Au contraire...I now refer you to PWC.

Watchstone (Quindell as was), a Canadian legal body blow and the £18 million claim it is hiding

Published 42 days ago

In the dismal annual results for calendar 2018 published on May 9 Watchstone (WTG), Quindell (QPP) as was, claimed to go into great detail on the various legal cases it faces thanks to the activities of its former boss, the King of the Fraudsters, Rob Terry. Except it didn’t. On April 11 it suffered a massive blow in a C$30 million (£18 million claim if faces in Canada from Aviva. This it omits to mention in its finals but luckily I can bring you full court documents and a release from Aviva’s lawyers below….

Another after hours utter Neil Woodford SHOCKER – Worthless Proton calls him for £25m, so who will pay?

Published 43 days ago

I have flagged up repeatedly that one almighty headache for Neil Woodford is that NEX lobster pot listed joke company Proton Partners International (PPI) has a legally binding right to demand up to £70 million in equity investment from Nei Woodford’s funds. Given that its shares have traded once in the 3 and a half months since its scandalous IPO this is a real nightmare.  At 5PM today we learned Proton has called Woodford for £25 million…questions, questions…

Tom Winnifrith Bearcast - Diversified Gas cannot respond - is it the best short on AIM?

Published 43 days ago

I start with a few reflections on D day from my own family history. Then I look at Neil Woodford and what needs to happen.Then at unfolding events at Diversified Gas & Oil (DGOC) which make it, arguably, the most compelling short on AIM. Do folks understand the scale of what is going on here? Then I cover Motif Bio (MTFB), Cabot Energy (CAB)  and finally Blue Jay (JAY) another truly compelling short.

An Open Letter to Susan Searle at WPCT No 2 – Neil Woodford must be fired now to save our company

Published 44 days ago

Susan Searle, the fragrant chairwoman of Woodford Patient Capital Trust (WPCT), where I am a loyal owner of 10 shares, has yet to respond to my polite letter demanding she suspend the shares, fire Neil Woodford and undertake a strategic review. But events now force me to write again in light of Woodford’s incoherent video of earlier.  That suggests WPCT now faces a full blown crisis. The letter follows:

Diversified Gas & Oil Reported to FRC – IFRS 3 why its accounts are a joke and need mammoth restatement

Published 44 days ago

Yesterday I highlighted the numerous issues which make Diversified  Gas & Oil (DCOG) the most overvalued oil stock on AIM.  The crux of the issue is that its freported profits since IPO have been generated almost entirely from aggressive accounting as opposed to producing hydrocarbons. I believe its accounts breach IFRS 3 and must therefore be completely restated which will wipe out nearly all of its retained profits. Let me explain. 

Diversified Gas & Oil – surely a stonking short – I guide you to some amazing research

Published 45 days ago

I take my hat off to a chap who has created the blog Oarfish Research for he is a truly talented individual who has produced some spectacular research on £878 million capitalised ( at 126p) AIM listed Diversified Gas & Oil (DGOC).  Reading Mr Oarfish’s truly spectacular analysis I can only conclude that this company is monumentally overvalued. It could be the most overvalued stock on AIM.

Letter to WPCT Chair Susan Searle – suspend the shares, fire Neil Woodford for misleading us at AGM & strategic review asap

Published 45 days ago

As you may recall I invested £8 to become a loyal shareholder in the Woodford Patient Capital Trust (WPCT) and attended its AGM on May 16 to give Neil Woodford a right duffing up. Woodford misled that meeting and for that, as well as gross incompetence, he should be fired at once. I have written to our great leader, chair Susan Searle with calls for immediate action. The letter is below:

Beer and Popcorn time at Karelian Diamonds

Published 48 days ago

Oohhh goodie! It was announced on Friday morning that AIM-listed insolvent POS Karelian Diamonds (KDR) had received a EGM requisition to sack the board……but due to a technicality the requisition received was not valid. However, on the expectation that another is on the way minus any technicalities causing problems, it looks as though the Prof Richard Conroy soap opera is set to take another turn.

Tom Winnifrith Bearcast: who has been daft enough to send me a fascist lawyers letter

Published 49 days ago

Someone wants to gag the free press and has sent me a fascist and ludicrous lawyers letter. But who wants to suffer the curse of the Sheriff? make your guesses in the comments section below. It is not Neil Woodford but I discuss his woes, I look at Karelian Diamonds (KDR) and offer to back those wanting to sack the board, comment again on BlueJay (JAY) and its porky pie and look at results from Audioboom (BOOM). Finally, my cats are now showing their teeth as trained vermin killers.

Live Company – another AIM Casino POS caught lying

Published 49 days ago

And clueless Marcus Stuttard at AIM Regulation wonders why the AIM Casino is regarded as such a joke? How about because companies are able to lie to investors without sanction? I flagged up BlueJay earlier for telling a monstrous porky, now here is another, Live Company (LVCG).’

Pieter Totte is the crook, why are the Oxymorons at AIM Regulation sparing his blushes and panning Real Good Food?

Published 50 days ago

Individuals not companies lie, deceive, cheat and break the rules. If you want to stamp out white collar crime you hammer individuals not companies. Natch the Oxymorons really do not get that at all. Today AIM Regulation has fined Real Good Food (RGD) £450,000 (reduced to £300,000 for co-operating with enquiries) for some monstrous crimes committed largely by its former executive chairman Pieter Totte, but also by two other former directors. The full shocking notice is below.

St James House – trading update as Razzall tries to dazzall (but fails)

Published 50 days ago

AIM-listed St James House (SJH) is not the investment house which gave Neil Woodford the dreaded vote of confidence – this is the old Boxhill run by Lord Razzall. It may have a swanky upmarket new name but it still looks like the disaster of old...

Cloudtag – Wot, no countdown clock? The Fat Lady sings again...

Published 50 days ago

As we all know, Cloudtag (CTAG) was a former darling of the AIM Casino which had a few problems with nasty people like us pointing out that it was a total POS in every way until it was booted off the Casino when the Nomad resigned. It now seems that a part of the Cloudtag empire has bitten the dust as Companies House has announced the Final Gazette notice for Cloudtag Active Limited...

Westminster 2018 results – the ghastly truth, the fudges to stop it being marked insolvent

Published 56 days ago

And so having promised us 2018 sales of £7.2 million and an EBITDA profit on January 29, simply to get a bailout placing away on February 8, the ghastly truth now emerges. Westminster’s (WSG) 2018 results are shite and bar an accounting fudge they would have shown the group as insolvent. Let me explain.

Redhall – suspended pending clarification, but when did it get into trouble?

Published 56 days ago

Back in 2014 Tom Winnifrith described AIM-listed (for now) Redhall (RHL) as a zombie company….dead money but that it supported an army of crony capitalists, directors and various City parasites. This morning the shares were suspended pending financial clarification yet although there had been a profit warning on 1 May there had been no indication that the company was at death’s door.

Norwegian E24 goes after Chris Rynning (formerly of F40 Origo) - part 6: now Danske Bank's due diligence comes under the microscope

Published 57 days ago

E24 in Norway has been having a right old go at Chris Rynning, the former boss of AIM-listed Origo Partners (OPP), having found that large amounts of cash disappeared into tax havens and investors in Origo were left wth almost nothing. In this latest episode, E24 looks at Danske Bank, which went in with NOK 0.9 million to Rynning’s venture fund, Nhack, to help entrepreneurs in China. But this year, like Innovation Norway, Danske Bank terminated the relationship.

Sound Energy – is that noise the screams of Bulletin Board savant agony? It will get worse

Published 58 days ago

I warned folks time and time again that the valuation of Sound Energy (SOU) was a monumental joke as the shares were pumped up to a peak of 82p. But the savants of the Bulletin Board Moron community knew better and hurled back abuse. Today the shares are just 11.62p but that is still way too high.

Westminster clarifies on its 2018 “profits” – surely it over-egged before bailout placing?

Published 58 days ago

If Westminster Group (WSG) was regulated by the SEC not the weedy poltroons at the FCA and the Oxymorons at AIM regulation, shamed ex Tory MP Tony Baldry of 3DM infamy would this morning be sweating like the dirty pig he is. Let me explain.

Accesso shares have more than halved – who is to blame? Natch it is Tom Winnifrith says Roger Lawson who wants me closed down

Published 58 days ago

Shares in Accesso (ACSO) have more than halved so who is to blame? I warned folks on numerous occasions about aggressive accounting, weak cashflows, lack of timely disclosures and hefty boardroom share sales, notably in a detailed piece HERE. And you might have thought that those were all very good reasons why the shares have tanked. Oh no…step forward loyal shareholder Roger Lawson of Sharesoc reporting back on the AGM which he attended.

Ariana – another cracking set of numbers from Kiziltepe

Published 60 days ago

AIM-listed Turkish gold producer Ariana has offered up the latest full production numbers for its Kiziltepe joint venture. As I had expected, costs were up a little due to the Turkish Lira strengthening, but the gold price had a good quarter (sadly not sustained…..) so income was up.

Thomas Cook: bad News for Andrew Monk and Chris Bailey, this is going to 0p

Published 60 days ago

I did warn my pal Andrew Monk, as he greedily filled his boots with Thomas Cook (TCG) shares and for a time he looked smart. Now the stock has collapsed to just 10p but that still values the company at c£150 million. The bad news for Monkey and Chris “three brains “ Bailey, a fellow bull, is that this is likely to be a zero.

Rose Petroleum – your RNS share issue statements are a farce & contain blatant lies

Published 60 days ago

On 11 April Rose Petroleum (ROSE) announced that Mr Robert Bensh was buying £275,000 of shares in the company at 1.1p to take a 14% stake and would become chairman with immediate effect. Er….

Woodford Equity Income Fund – Red Flags in the end-April numbers

Published 61 days ago

This week saw a bit of a landmark as Neil Woodford’s Equity Income Fund (EIF) crashed below £4 billion in value. It was £4.7 billion at the of February, and £4.4 billion at the end of March – but it peaked at over £10 billion. It is an astonishing collapse of confidence in Woodford. But the end-April numbers revealed a few surprises.

Woodford – buys 2 more falling knives (AGAIN) as EIF crashes through £4 billion. Good job he’s not a forced seller!

Published 63 days ago

Let it never be said that Neil Woodford is a forced seller of anything, for yesterday we learnt that once again he has topped up with yet more shares in Kier Group (KIE) and a few more Redde (REDD). Except that as at yesterday’s close, his Equity Income Fund had dropped through the £4 billion mark, according to Morning Star. Only at the end of March the fund was worth £4.4 billion. I wonder what he has been selling…..completely voluntarily, natch.

From 82p to 0.4p in seven years …its all a bit of a Blur as Maistro prepares for AIM Casino exit

Published 63 days ago

Retained losses are £27 million and counting, the shares have collapsed from 82p at IPO to just 0.4p, Blur (BLUR), now rebranded as Maistro (MAIS), has been a disaster for investors but at least its founder Phil Letts and his ghastly wife who was also on a fat salary have been able to buy and upgrade a Country mansion, as we noted HERE.  Today as it issued another lack of profits warning and warned of another cash crisis, Maistro says it is going to delist from the AIM Cesspit.

Norwegian E24 goes after former Origo boss, Chris Rynning – parts 4 & 5: conflicts of interest?

Published 63 days ago

We have a double edition today of further articles released by Norwegian E24 as it continues to dissect the activities of Chris Rynning, the former boss of ShareProphets AIM-China Flithy Forty play Origo Partners (OPP). First up we have part 4, which looks further into his role as an adviser to Investinor (Norwegian state-owned) which seems to unearth a massive conflict of interests. Then we move on to Rynning’s lawyer who offered a reply...

Fecking YUseless Chocolate Teapots discontinue investigation

Published 64 days ago

Never mind that a £10 million (or thereabouts) black hole was found in the accounts of AIM-listed Yu Group (YU.) and it raised £11.6 million in a placing last year on the back of dodgy accounts, the chocolate teapots at the FCA have discontinued their investigation, according to the company this morning...

Yu Group – FY18 results and a lack of cash (despite the headlines)?

Published 65 days ago

AIM-listed Yu Group (YU.) has posted its much awaited results for the year to December 2018 – much awaited because during the year it ‘fessed up that its previous numbers had been less than believable. The opening lines make good reading – and the market has reacted well, marking the stock up by a whopping 67%, last seen, to 155p but I wonder about that.

Norwegian E24 goes after Chris Rynning (formerly of F40 Origo) - part 3: due diligence?

Published 65 days ago

Chris Rynning, the former boss of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) can rest a little easier today as we continue to follow the fine work of Norewegian E24 as the scandal of Rynning and Origo continues. Today we learn that having left Origo, Rynning was helping Norwegian entrepreneurs get a foothold in China as Innovation Norway referred them via its own website to Nhack, another Rynning company, based in Shanhai. Of course, Innovation Norway had checked him out.....hadn't they?

Management Resource Solutions – another shocking admission from the recent investor lie-fest

Published 65 days ago

On 2 May Management Resource Solutions (MRS) held an investor lie-fest at the offices of its uber expensive PR posh-tards FTI Consulting. It was recorded so hapless Nomad Arden has full access to what was said. I have already detailed, here, a stunning admission by boss John Zorbas which would have seen any normal Nomad resign on the spot. But there was more….

Ariana – more positive news as we wait for more numbers

Published 66 days ago

AIM-listed Turkish gold-play Ariana Resources (AAU) has updated the market on its Salinbas exploration target and forestry permits this morning. Coinciding with a bit of a China-USA spat spike in the price of the yellow stuff, Ariana’s shares have reacted positively and I suspect there is still more short term upside as we await the full production numbers from Q1 which are due any day.

Norwegian E24 goes after Chris Rynning (formerly of F40 Origo) - part 2: the company credit card

Published 66 days ago

This gets worse and worse for Chris Rynning, the former boss of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP). Having discussed how a billion Kroner disappeared to tax-havens under this self-styled China expert, today E24 looks at the company credit card. If you thought Nilesh Jagatia of Teathers (TEA), Insprit (INSP) and Octagonal (OCT) was, ahem, generous (to himself), this appears to take the biscuit.

Winnileaks Special: explosive Singapore Court Docs - MySquar boss Eric Schaer a liar and guilty of theft and fraud

Published 67 days ago

I demonstrated clearly that AIM listed MySquar (MYSQ) was a fraud, founded and run by a lying fraudster Eric Schaer way before it finally folded. The great and the good at AIM Regulation and Nomad SP Angel did nothing about it despite explicit warnings Self important PR fucktard Piers Pottinger stayed on as chairman, standing by his man and ignoring me. PR spawn of Satan Damian McCrystal banked his cheques and carried on spinning. The fraudsters fave journalist  (and ADVFN blogger of the year) Ben Harrington ran bogus stories in the Sunday Papers to get bailout placings away. No-one cared about the lies Schaer told. You guys are the establishment and it is far simpler to bank fat salaries and dismiss me as failed fund manager, pizza restaurant employee, yak, yak yak. Well gents you, 1% er bastards who are complicit in a transfer of welath from the many (shareholders) to the few (yourselves), please now read the Singapore Court Documents below branding Schaer a liar, a thief and a fraud. Read, weep and apologise to the Sheriff of AIM and to investors who have lost everything. You were all warned. You are complicit.

GLI Finance tries to hide admission of unacceptable management reward for failure at no-one is watching O’Clock

Published 67 days ago

I guess that GLI Finance (GLIF) thought that sneaking out an AGM statement with a ghastly admission of management reward for failure at 4.52 PM on a Friday evening might go un-noticed. It reckoned without the stockmarket anoraks who run this website. Its attempt to bury bad news thus deserves, and will now get, a wider audience.

Norwegian Investigative journalism alive and kicking as E24 goes after F40 Origo’s former boss Chris Rynning

Published 67 days ago

I have covered the scandal of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) in some detail – see HERE. To cut a (very) long story short, it raised a pile of cash and seems to have lost almost the whole lot – apart from the generous remuneration and related party dealings – and the management paid itself a stack of bonuses just as the icing on the cake. New boss John Chapman has been forthright with what he found out on getting his feet under the table and now Norwegian outfit E24 has been looking into the original brains behind Origo, Mr Chris Rynning.

Open Letter to Paul Shackleton: Given the latest massive John Zorbas Alerion lie will you resign as MRS Nomad now?

Published 67 days ago

China fraud specialist Paul Shackleton is trying to restore his soiled reputation and personal finances as head of the Nomad team at Arden. But this is proving hard given the activities of Arden client Management Resource Solutions (MRS). Over the weekend, thanks to Winnileaks, we exposed the biggest lie yet told by Management boss John Zorbas over the dodgy as hell related party nest of snakes £1.32 million acquisition of Alerion. In friendship, I have written to Mr Shackleton asking if Arden will quit as Nomad now and explaining exactly why they must. I have cc’d in AIM Regulation.

Winnileaks Expose: Is John Zorbas of Management Resource Solutions lying again?

Published 68 days ago

At the investor presentation on 2 May at the offices of uber expensive PR posh-wits FTI Consulting, which was attended by over 20 sceptical and angry investors, Management Resource Solutions (MRS) boss John Zorbas again showed he was, quite possibly, a liar.

The Curse of Daniel Stewart strikes again – management fallout at Atlantic Carbon

Published 69 days ago

Thanks largely to the work on this website, the ludicrous proposal to reverse drowning in debt POS Atlantic Carbon into worthless Daniel Stewart Securities ahead of a Standard List came a cropper in early April as noted HERE. But the curse of doing business with Daniel Stewart and its toxic boss Peter Shea is now becoming clear for all to see.

Reckless Neil Woodford gambles with other people’s money on Induction Healthcare IPO

Published 69 days ago

Induction Healthcare is coming to the AIM market in only the third IPO of the year on AIM. That kind of tells you now ain’t a great time, but leaving that aside, Neil Woodford has signed up for IPO shares (with no previous investment) in a company which seems to be a very long way from profitability. So is it his Equity Income Fund buying a company with no income? Maybe it is his Income Focus fund – although no matter how hard I focus, I still can’t see any dividends. Or perhaps it is Woodford Patient Capital (which has no cash)? I’ve no idea.

Mirriad Advertising Results – Told y’all cash crisis ahoy

Published 71 days ago

You have been warned so many times by myself about the uber dog Mirriad (MIRI) which listed on the AIM casino at 62p per share in December 2017. The shares are now 6.25p so shame on Nomad and broker Numis for this hound. Today we have calendar 2018 results and a warning that it needs a bailout placing within a year. I should cocoa.

Purplebrickssucks.com - a website dedicated to how a company screws its employees and customers

Published 73 days ago

Purplebricks (PURP) is notorious for sending fascist lawyers letters to folks who criticise it. But in the US libel laws favour free speech not heavy handed corporates keen to gag whsitleblowers.  Ultimately a business model that is predicated on screwing both staff and customers is doomed to fail and I shall turn to the latest lack of profits warning from Purplebricks later today. However, for now, I inveite you do enjoy the world of Purplebrickssucks.com  - read at your leisure and having done so I am sure you'd agree that only a true moron or Neil Woodford, would want to own shares in this company.

Gotcha – Bidstack completes placing at just 12.5p: feel that cashburn

Published 73 days ago

Finally, after almost three weeks of trying, and after I forced them to ‘fess with a scoop HERE, Bidstack (BIDS) and tawdry broker Optiva have managed to complete a placing. They were aiming to raise £5 million at 15p. Then it became 13.25p. The placing was completed at just 12.5p.

Neil Woodford Dog Mereo collapses further and spoofs the market (at least, I hope it was a spoof)

Published 74 days ago

Woodford dog Mereo Biopharma, with its “value-enhancing” (according to 31% holder Neil Woodford) merger with Nasdaq’s Oncomed all delivered, has continued to slide: the shares, having been 325p at IPO on AIM in 2016 and having been over 160p up until completion of the merger have now collapsed to just 81p.

Red Flags at Night – Novacyt death spiral: SELL

Published 74 days ago

AIM-listed diagnostics play Novacyt (NCYT) announced a death spiral deal on 23 April 2019 and at 6.23pm on Friday evening it slipped out details of the first two rounds of conversions – at no-one-is-watching o’clock….except ShareProphets was watching. It is also listed on the Euronext Growth market (ALNOV), and joined AIM at the back end of 2017 – since when it has been heading heavily southwards, as you can see from the chart below.

Redx Pharma – much improved cashburn, but is it death spiral ahoy?

Published 77 days ago

Since the scandal of its administration, AIM-listed biotech company RedX (REDX) has had a much better run of things under the new leadership of Exec Chairman Iain Ross. But today’s statement, issued intra-day at 11.34am, suggests that a death spiral may be on the way. If it is, then this is an automatic sell for me...

Stephen Hope & Outrider hit back at Frontera in US case - court filings below

Published 77 days ago

It really does look like the last days of Frontera Resources (FRR) the formerly AIM listed fraud and purveyor of lies which was so beloved by the Bulletin Board morons. The latest court papers filed by Stephen Hope and Outrider as it battles to seize the assets of the company in lieu of debts on which Frontera has defaulted make for grim reading for promoters such as the whore blogger Malcolm Graham Wood and for the morons on the shareholder list. Read and weep Malcy, this is going to end badly for your boys. 

Burford Capital – a screaming short?

Published 78 days ago

I have been receiving a few comments and concerns from a number of sources regarding AIM-listed Burford Capital (BUR) – a player in the highly lucrative litigation funding space, and a major part of Neil Woodford’s investment empire. If those concerns prove to be correct then Burford Capital is massively overvalued, based on hocus-pocus accounting and is an accident waiting to happen...

Westminster – a French farce of an acquisition by fatso Baldry and accounting mayhem

Published 79 days ago

On 29 January 2019 Westminster Group (WSG) the dog chaired by ex Tory MP Tony “fatso” Baldry of 3DM infamy issued a ramptastic trading statement to ramp its shares up to 12p allowing it to do a bailout, keep the lights on, placing at 10p a few days later. Now, as it prepares for its next bailout placing we have more grim news marking the company out as utterly uninvestable. First the mess of its accounts.

More bad news for Neil Woodford as BBVA misses deadline to exercise Atom Bank takeover option

Published 79 days ago

For all the positive vibes surrounding Spain’s second largest lender, BBVA, perhaps landing a bid for Woodford unlisted banking startup dog Atom Bank, it seems that at least for now the deal is off the table: BBVA has missed the deadline to exercise its option. So no big payday for Neil Woodford’s beleaguered investors, then...

Neil Woodford Dog Mereo – FY18 results…..oh dear

Published 80 days ago

Oh dear oh dear oh dear. I commented at the weekend HERE that AIM- and now Nasdaq-listed Mereo Biopharma (AIM: MPH, Nasdaq: MREO) has FY18 results due this Monday, following Mereo’s merger with Oncomed on Nasdaq. Duly reported, how’s that extended cash runway doing?

Audioboom – placing flops and it still dissembles: Gotcha!

Published 80 days ago

Last Thursday evening I revealed in a bit of a scoop that Audioboom (BOOM) was trying to raise £8 million at 2.5p. The next morning the company was forced into a statement and said it was trying to raise £5 million at 2.5p. That was not really true - I published the deck the wretched company had sent to potential investors showing it was trying to raise £8 million. Today it fessed up that it has raised just £2.8 million with £1.2 million of that coming from the board and the Candy Brothers chucking good money after bad. What a shower…

Trafalgar Property – FY trading statement shows this is a crock of….”exciting times”! SELL.

Published 81 days ago

Last time I commented on AIM-listed Trafalgar Property (TRAF) I responded to the claim it was well placed to deliver with the observation that since listing on AIM it had only delivered one set of profitable account out of five when the housing market was on fire, and that current borrowing of £3.1 million plus longer term loans of £4.9 million meant that the lenders would benefit long before shareholders. This morning we had a trading statement: how does the well placed to deliver company find itself?

Do the LSE BBMs need to find a new asylum?

Published 82 days ago

I see that accounts to May 2018 have been posted by the LSE Asylum – and they are terrible: it is burning cash and drowning in debt. But worse still, one of its two directors walked earlier this month as the asylum mortgaged itself to keep the lights on a little longer. Is the end in sight for one of the main homes of bulletin board morons?

Neil Woodford dog Mereo Biopharma completes “value-enhancing” merger...er....

Published 83 days ago

Mereo Biopharma (MPH) is a typical Woodford dog: until a few days ago Neil had just shy of 42% of the equity in this cash-guzzling enterprise, which joined the AIM Casino back in June 2016 with a valuation of £142 million and a lofty share price of 325p, having raised £14.8 million, plus a convertible loan note worth another three million.

Winnileaks expose: Nicola Horlick's Ex, Tim, stands accused of insider dealing in Pathfinder Minerals by ex business partner

Published 84 days ago

Nicola Horlick, the self proclaimed "superwoman,"  is one hell of a self important ghastly stain on the UK financial services industry as we have noted many timec on this website. But her ex husband Tim is a bit of a character too. Thanks to Winnileaks we can now bring you an email from his former business partner Diogo Cavaco which accuses Tim of wholesale insider dealing in the shares of Pathfinder Minerals (PFP) giveing chapter and verse on what went on. When I questionned Tim's share dealings in Pathfinder back in early 2014 I found myself on the receiving end of menacing and threatening emails from Horlick's evil PR man Damian "spawn of Satan" McCrystal. In light of the explosive email below I invite McCrystal to go fuck himself. Natch, I draw no conclusions myself, but have passed the email from Horlick's ex business partner on to AIM Regulation and to the FCA. It reads:

Inspirit – finally gets around to confirming our scoop of last week with a load of tosh

Published 84 days ago

AIM-listed POS Inspirit Energy (INSP) has finally woken from its slumbers and confirmed our scoop of over a week ago, that it has vacated its factory. Apparently it is in the process of moving its facility  to Poland. Well it might be in process but it seems to be taking a long time for last week we know that its Sheffield factory had already been vacated and leased to a new tenant. And then there is the strategic review…..

EXPOSE: Bidstack: Placing underway and struggling after nine days

Published 84 days ago

I have suggested in a number of recent bearcasts that Bidstack (BIDS) was the most over-ramped and overvalued stock on the AIM Casino and also that it would have to do a placing within six months to keep the show on the road. A City source has now provided me with more specific information, an offering is already underway but it is struggling.

Audioboom struggling with placing, forced to scale back, dissembles in face of our scoop

Published 84 days ago

Yesterday I revealed that Audioboom (BOOM) was running around trying to raise £8 million at 2.5p HERE. The Company has responded with an RNS "Statement re Online Commentary on proposed fundraising." Oh come on CEO Rob Proctor you free speech denying knobhead, surely you can brinmg yourself to recognise which fine website scooped you and forced the statement. The statement natch dissembles as I shall demonstrate below.

BREAKING EXCLUSIVE: Project Coffee - Audioboom set to place again at 2.5p

Published 85 days ago

The codename for the latest bailout funding of Audioboom (BOOM) is Project Coffee. The presentation, which I have seen, gushes about growth opportunities but that is always the way with this serial deliverer of jam tomorrow. There is no mentioning of burgeoning trade payables. That is always the way with Audioboom and its bailout placings. Anyhow, the company is, according to its jargin filled document "now seeking to raise a ‘growth’ capital round of c£8m at c2.5p per share."  With the stock at 2.3-25p that might be a bit of an ask. Time for an official comment on this ShareProphets scoop methinks...

Neil Woodford Dog NetScientific – CEO walks “to assist….in reducing central costs”

Published 85 days ago

AIM-listed Woodford dog Netscientific (NSCI) has announced the departure of its CEO, Francois Martelet as from 30 April 2019 – just a few day’s time – in order to assist the Company in reducing its central costs and pursue other career opportunities. Well I daresay not having to pay his salary, bonuses and medical insurance will help a little with the company’s forthcoming cashflow difficulties, but if he is departing to help the company why is this all in accordance with the terms of his service agreement?

Daniel Stewart Administrators Report - go whistle for £8 million

Published 85 days ago

The administrators first report on the late lamented Daniel Stewart (DAN) is out and is published below. Red faces all round and a bit of a £50,000 question for NEX listed China POS Gamfook.

Optibiotix – er should you not have declared this related party deal with your chairman?

Published 86 days ago

Optibiotix (OPTI) has announced the launch of SlimBiome® Medical in the UK – as of 29 April.  All; well and good and I remain an enthusiast for the shares - they are cheap. But there is another matter which is not so impressive in a word where transparency is now universally viewed as critical.

PDS Biotechnology - bad news for Netscientific, and in turn Neil Woodford

Published 88 days ago

PDS Biotechnology (PDSB) joined Nasdaq just over a month ago following the merger of AIM-listed Netscientific (NSCI) investee PDS and previously Nasdaq-listed Edge Therapeutics. Netscientific – itself an investee of Neil Woodford - proudly told the market the listing was at $10 per share, but by the time the RNS came the following morning, the shares had already collapsed to $8.51.

Easter Red Flags at Night: Modern Water FY results a washout – SELL!

Published 88 days ago

Here haven’t been so many diabolical after-hours announcements as there used to be, but ahead of the Easter double bank holiday – at 6.19pm on Thursday evening – AIM-listed Modern Water (MWG) showed that the tradition is alive and kicking. Its investors might have gone home but ShareProphets was watching….

EXPLOSIVE: Management Resource Solutions boss Zorbas submits fraudulent accounts or lies to market – which is it?

Published 90 days ago

Believe it or not AIM PLC directors are meant to be deemed by their Nomad to be “fit and proper” individuals to hold such a post. Don’t all laugh at once. And that brings me to John Zorbas the boss of insolvent Management Resource Solutions (MRS) which is happy to lie to investors.

Explosive Winnileaks scoop: Leon Hogan's disappeared tweets, the Alerion deal and possible market abuse?

Published 91 days ago

AIM regulation has acknowledged that it has received my formal requests to investigate lies told via RNS and the related party nest of snakes at Management Resource Solutions (MRS). At the centre of it all is 10% shareholder and noted market bad boy Leon Hogan. Now thanks to Winnileaks here is something else for regulators to consider...potential market abuse.

Inspirit - About AIM Rule 26......is this a slam dunk breach, Nomad Roland Fatty Cornish?

Published 92 days ago

As you will see below, it appears to be some time since AIM-listed POS Inspirit Energy (INSP) updated its AIM Rule 26 webpage. As far as I know, according to AIM Rules, it is supposed to be updated at least every six months but as you can see it was last updated on 26 June 2017. Has London's worst Nomad, Roland Fatty Cornish, really been out to lunch for the last year-and-a bit?...

Management Resource Solutions - breaking AIM Rules again

Published 92 days ago

In the greater scheme of things, given our exposes on the related parties nest of snakes, the blatant RNS lie and the fundamental insolvency of Management Resource Solutions (MRS) this is small beer, but it seems that the Management Team do not give a FF about AIM rules on website disclosure as the screenshot below demonstrates.

Does anyone have a Scooby as to why Inspirit is sharply higher?

Published 94 days ago

I have to admit it: I haven’t a clue why shares in AIM-listed Inspirit Energy (INSP) are hugely up today. The shares opened at 0.0225p and motored as high as 0.055p. They currently sit at 0.045p, up 100% on the day. But there has been no news and I am not aware of any imminent news. So why is the stock up so strongly?

Winnileaks expose (perhaps): Versarien – is Neil Ricketts taking the piss with share sale and BIGT investment

Published 94 days ago

In September 2018, Versarien (VRS) raised £5.3 million at 145p.  Ramptastic CEO Neill Ricketts stated that he wanted to take part, to buy shares at 145p but could not do so as he was sitting on inside information. Yesterday, having exercised options at 29p, he flogged 307,970 shares at 136.1p netting him a cool £340,000. But that is not the thing that, perhaps, really stinks.

Ariana – quarterly production figures

Published 94 days ago

AIM-listed gold-miner in Turkey, Ariana Resources (AAU), released its latest quarterly production figures from its Kiziltepe joint venture this morning. Last year the numbers were 4,866 oz against a target for the year of 20,000 oz and the company went on to deliver 27,110 ounces. Now a year later, and with all the start-up bits and pieces worked out some time ago, Ariana has delivered 7,296 oz of gold for the first quarter of this year. Great stuff!

BREAKING: Winnileaks exposes the monster lie Management Resource Solutions told to its Nomad and AIM

Published 94 days ago

If an AIM listed company lies to its Nomad and to the market the Nomad should quit on the spot. Thanks to Winnileaks we bring you an email exchange below which shows that Management Resource Solutions (MRS) told a monster lie this week. The end should be nigh. I have alerted the Nomad, AIM Regulation and the FCA.

Neil Woodford favourite Circassia – IP Group is selling

Published 95 days ago

Oh dear! It appears from a TR-1 released by Circassia Pharmaceuticals (CIR) today as though IP Group (IPO) - a Woodford investee - has been selling shares in Circassia, a favourite of Neil Woodford...

Management Resource Solutions – the Profits warning it is refusing to issue

Published 96 days ago

As far as I can see, Management Resource Solutions (MRS) is insolvent so it does not matter how dismal its profits are, it is simply not generating free operating cashflow. As the old saying goes, profits are a matter of opinion, cash is fact. But for what it is worth Management owes us a profits warning…let me explain.

EXPLOSIVE: Management Resource Solutions - 12 damning questions

Published 98 days ago

It is bad enough that Management Resource Solutions (MRS) is insolvent as shown HERE. It is worse that it will not answer questions about the stink to high heaven non declared related party Alerion deal we exposed HERE. Now I have 12 more questions for Messrs Hogan, Zorbas and Grove. These worthless shares should be suspended at once.

AFC Energy – “pleased to announce” FY18 numbers - with a death spiral and further funding needs?

Published 98 days ago

It is some three years since Evil Banksta covered AIM-listed AFC Energy (AFC) on this site with his piece In the long run, AFC Energy is a zeroThe shares were then 14.5p. Last night they were 3.775p and now they are 3.39p. I guess we are 76.5% there, then! This morning we were told that the company was pleased to announce its results – but should it be?

Tern: yet another loan to DA, this time $315k - the joke goes on

Published 99 days ago

And so AIM-listed jam-tomorrow investment company Tern plc (TERN) has handed over another $315,000 to principal investee Device Authority (DA) in the form of yet another convertible loan, and surprise, surprise the previous loans have yet again been extended by another 6 months. I suppose it was easier to do now that the confetti printing machine got another massively discounted placing away a few days ago at 8.5p, although the shares have since collapsed to just 7.25p – a bad sign indeed.

Good news for Neil Woodford as Allied Minds falls under the gaze of Crystal Amber

Published 100 days ago

There has been lots of good news for Neil Woodford – aside from the joke listing of Proton Partners on NEX. Last night, AIM-listed investment company Crystal Amber Fund Limited (CRS) announced its monthly NAV and in it we learn that it wants to take over the running of Allied Minds with a view to winding it down. The good news is it thinks it can realise the assets at a big premium to the then current share price. The bad news…..well, the criticisms of the current arrangements are eyewatering. Was Neil really happy with this, and if not, why did he not do something about it?

Charlatan and snake oil salesman Darren Winters fleeces another punter for £29,000 – the Teacher’s Tale

Published 100 days ago

I am afraid that I still continue to get a stream of letters from victims of charlatan and snake oil salesman Darren Winters. His courses are worthless and the claims he makes are just untrue, as the ASA noted here. Yet Winters regards brushes with the ASA or The Sheriff of AIM fighting on behalf of victims in the Courts  (and winning!) as just another cost of business and carries on, as he has done for almost 20 years, with industrial scale larceny. What follows is the teacher’s tale 

Oohh…bad luck, Neil!

Published 102 days ago

Tom Winnifrith noted in yesterday’s Bearcast that Neil Woodford had once again been selling liquid dividend payers in order to meet redemptions and so that Neil can prove the market wrong (reference Keir – which  slid alarmingly again today). In this case it was New River REIT (NRR), where he appears to have sold a large chunk of his holding to his old mates over at Invesco last Tuesday.

Sosandar – FY trading update “in line with market expectations” but I'm holding on to my free shares

Published 102 days ago

AIM-listed Sosandar (SOS) has announced a full year trading update. On the surface, a rise in revenues to £4.4 million, up 228%, looks good but the statement is a bit vague and I fear that growth has slowed down somewhat, though it is still very impressive.

Minoan – signs of progress as FY18 results are released

Published 103 days ago

AIM-listed Minoan (MIN) has released its annual results to October 2018 and there does at last appear to be some sign of tangible progress in monetising its holiday resort project in Crete. My buy tip for 2018 has so far been embarrassingly bad, for which I can only apologise. But this morning’s results have some snippets which show that things are moving in the right direction and I still sense that we might see the original buy price (6.25p) taken out.

Filthy Forty Origo Partners – where’s the website gone?

Published 104 days ago

I noted last month that ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) had sacked its investment adviser, Origo Advisers Limited “for cause”. Now it seems that the company’s website has disappeared, as you can see HERE – which is, of course, contrary to AIM Rules. But before I get on my high horse, I would note a few things.

Ooh, Er MRS – has the Nomad turned the screw?

Published 105 days ago

This is utterly bizarre: on 28 March AIM-listed POS Management Resource Solutions (MRS) announced the acquisition of Alerion Consulting Ltd from its founder, Elliott Talbott, and others for a consideration of £1.32 million to be satisfied by the issue of MRS confetti at 5p per share and we were told that an application for admission to trading of the consideration shares on or around 4 April would be made. Now, on 5th April – at 9.38am – we learn that the application to have them admitted to trading hasn’t been made at all, yet the acquisition completed on 28th March!

Neil Woodford uber dog WPCT releases FY18 Results – what about the cash?

Published 106 days ago

This morning saw Woodford Patient Capital (WPCT) release its annual results for 2018. The key points seem impressive: an increase in NAV per share from 91.33p to 97.61p, more disruption tomorrow (along with the disruptive jam) and running costs are just 0.2% (only because the management bonus is triggered at 10% per year and so far NAV has declined). But they say follow the money ….. what about the cash?

The Curse of the Sheriff of AIM strikes again: Atlantic Carbon/ Daniel Stewart RTO and listing pulled

Published 108 days ago

When running Daniel Stewart (DAN) for the benefit of himself and his family, Peter Shea sent me a lawyers letter trying to stop me exposing what a crock of shit his company was, as it snuggled up to King fraudster Rob Terry. Better still his brother, also a Daniel Stewart employee as were four other family members, threatened to beat me up. So I doorstepped the Daniel Stewart Christmas Party - the brother hid inside the building. Congratulations Mr Shea & your vile family, you have met the Sheriff of AIM.

Tern – so much for enough cash to year-end: placing at just 8.5p and an excuse that just doesn’t wash

Published 108 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) has announced a placing to raise £1.5 million (gross) at just 8.5p. Of course, this was predicted HERE just a couple of weeks back – so much for being funded to FY19, and the excuses just don’t wash.

Chris Ronnie, is my MRS troll THE convicted fraudster or worse...

Published 109 days ago

As you can see below, I am being attacked on twitter by someone purporting to be a shareholder in tecnically insolvent, red flag strewn, Management Resource Solutions (MRS). Is my troll really a convicted AIM fraudster?

BREAKING: Tom Winnifrith to Present the 2019 AIM Awards

Published 110 days ago

Following intense lobbying by the team at AIM Regulation, the organisers of the annual AIM awards have today, 1st April, agreed that the presenter of the 2019 awards for excellence on the world’s most successful growth market will be the Sheriff of AIM, Tom Winnifrith.

Bowleven – interims, while we wait……

Published 110 days ago

AIM-listed Bowleven (BLVN), my buy tip for 2018, has announced its interim results to December 2018. The bad news of that it hasn’t been bought and nor has the Etinde asset off Cameroon - we have a more waiting to do. On the other hand, with a 15p per share special dividend already in the bag, the waiting hasn’t been too painful, even if the shares are down a bit.

Management Resource Solutions – an open letter to Nomad Arden: suspend the shares NOW!

Published 110 days ago

During the weekend in three separate articles I have detailed what an insolvent can of worms is AIM Cesspit listed Management Resource Solutions (MRS) and asked questions that need answering about its latest £1.32 million all share acquisition. The company has failed to answer the matters raised and its shares have plunged another 25.4% to 2.35p today. I have thus written to Nomad Arden demanding that it suspend trading in the shares at once and why. The letter is below. 

Tom Winnifrith Bearcast: A very old GF was just too "nice" - why the FCA & other regulators are so totally fecking useless

Published 111 days ago

Thanks for your kind emails on UK Investor and also on Uncle Chris Booker. In today's bearcast I go further on the growing scandal we are uncovering at Management Resource Solutions (MRS) and also at Nigel's work this weekend on Neil Woodford. The common feature is a regulatory approached based on box ticking rather than looking at the  real underkling swizzle so to protect investors.

Visiting the Global Group UK Investor Show part two: catching up with Sosandar

Published 111 days ago

I reported back from my visit to the Ariana Resources (AAU) stand HERE but I was also very keen to check in with AIM-listed Sosandar (SOS). My position here is pretty good, having recommended a buy after last year’s UKI and taking profits twice: I am ahead in cash and I still have a little pile of free shares in Sosandar. But with the shares now sitting at just 26p  -well down from the peak in the mid-forties – should I buy, sell or hold?

Visiting the Global Group UK Investor Show and catching up with Ariana

Published 111 days ago

What a day out that was! The Wray family may be running the investor show now, but the sparkle was still there – even if I missed the acid wit of Tom Winnifrith. But it was great to catch up with the other writers at ShareProphets and in particular it was good to call in at two stands – those of Ariana Resources (AAU) and Sosandar (SOS).

EXPOSE: Ooh Err Mrs … carry on droning

Published 112 days ago

Management Resource Solutions (MRS) has form when it comes to doing crackers deals to destroy shareholder value. Do you remember this one? (Carry on Dogging?) . Well now we have another corker. How Nomad Arden Partners signed off on the lastest crock defies belief. Management is buying fledgling drone operation Alerion for £1.32 million in shares at 5p. It is ‘avin’ a Turkish.

Inspirit – Pleased to announce interims. It shouldn’t be – SELL.

Published 113 days ago

News from the boiler room this morning is that AIM-listed Inspirit Energy (INSP) is pleased to announce its interims. I’m not sure why – they are awful! But perhaps the pleasure relates to the fact that they are out at all, for the numbers show a deficit of net current assets. Is it bust yet?

Tom Winnifrith Bearcast: Some cracking news for Neil Woodford, I'm a shareholder now!

Published 113 days ago

The threat of a photo of Dan Levi's Y Fronts post sore bottom training walk remains, so please donate to Rogue Bloggers for Woodlarks HERE. In today's podcast I look at Condor Gold (CNR), the struggling explorer backed so heavily by my good friend Jim Mellon. It looks to be in real trouble. Then good news for Neil Woodford. As of today I am a loyal shareholder in his Patient Capital Trust (WPCT) and looking forward to the AGM greatly. I have a favour to ask of bearcast listeners living close to Oxford who fancy a day out in the City of Lost Causes in late May or early June.

Vast Resources – Manaila Mine not reopening (yet)…oh, and a Corporate Restructuring. SELL.

Published 113 days ago

As if the poor shareholders in AIM-listed Vast Resources (VAST) had not suffered enough! Today the company announced that its Manaila mine in Romania which has been on care and maintenance since December 2018 will not now be reopened as planned this month (with just two working days left!!), in order to reduce costs. Oh, and there is a full corporate restructuring and refinancing underway.

Cloudbuy sells company formations business – still a sell

Published 114 days ago

AIM-listed Cloudbuy (CBUY) announced this morning that it is selling its company formations business for cash proceeds of £279,090. Apparently this means it won’t now be calling on Mr Sella for further cash, which is probably a relief to the Sella coffers but I’m not so sure the company is out of the woods...

Yu-hoo! Why are the shares down 13.5%? Statement needed, surely?

Published 114 days ago

Shares in Yu Group (YU.) have been slipping for a few days, and today they are off by 13.5% at just 75p bid, 85p offer. Of course, we already know that it was making up its numbers until the appointment of the new FD and the bean-counters have been crawling all over the company since then…..as has the FCA. A few days ago the stock was at around 120p, so why the drop?

Lyin Steve and UK Oil & Gas spoofing caption contest

Published 115 days ago

In light of the contrast between the January 25 Lyin' Steve Sanderson video (dont worry about dilution, fully funded, blah, blah, blah) and today's UK Oil & Gas (UKOG) discounted placing we invite captions of the picture below: 3 vessels full of hot air, aka a tankers and two er oil executives. Post in the comments section below with a deadline of midnight tonight. The rudest/funniest entry will receive a semi naked photo of Britain's top share blogger (mornings only), thirsty Paul Scott.

SHOCKING: Lyin Steve raises £3.5 million for UKOG at just 1.05p - now watch this video from January 25

Published 115 days ago

I think we have found an interviewer dimmer and more sycophantic than both the Sith Lord Zak Mir and Justin the Clown. I bring you a paid for video made by Core TV featuring an interview by a toothy bimbo with Lyin Steve Sanderson of UK Oil & Gas (UKOG). Shareholders should not worry about dilution, we are fully funded for our next two wells, look at the cash we are and will generate. Fabbo.

Purplebricks – is it time for a Full Year lack of profits warning?

Published 116 days ago

Britain’s most conceited fund manager, Neil Woodford, has been catching the Purplebricks (PURP) falling knife all the way down and, as at October, his funds owned 29.25% of the company and so he really can’t buy many more shares. And the problem is that no-one else out there is daft enough to throw good money after bad and thus the stock continues to head south. At 123.8p to sell the shares are almost back at the level of the most recent profits warning on February 21. That tells you that another warning, a full year one, is one the way.

Cloudbuy? No, cloud sell!

Published 118 days ago

AIM-listed Cloudbuy (CBUY) released its FY18 results this week and they  were truly awful. The company remains dependent on future improvements in trading performance and/or its ability to raise additional finance, in order for it to continue operating for the foreseeable future, revenues are still falling, cashflow (apart from Mr Sella’s loan) is still solidly negative and profits came in at minus £2.2 million. It is grim reading indeed.

Five slam-dunk sells for 2019 – March edition, as Walcom struggles on (just)

Published 118 days ago

Last month one of the five had its denouement as AIM-listed Haydale (HAYD) had an emergency bailout  - as long predicted by me -  at only 2p. That left just four. My suspicion was that AIM-listed member of the Filthy Forty, Walcom (WALG) would be next with its head under the guillotine and the news there was only marginally better as death has been postponed to June.

Red Flags at Night - Neil Woodford special

Published 119 days ago

I still see the occasional after-hours RNS which, were I a shareholder in the company concerned, would make my blood boil. Yesterday a release from AIM-listed Woodford Dog Netscientific (NSCI) at 4.42pm on a Friday evening ticked all the boxes.

TomCo - damning assessment after latest discounted placing from City's No 1 oil analyst

Published 122 days ago

I warned you that Tomco (TOM) was pumping ahead of a placing. Some poor saps ignored that advice and paid up to 4.5p per share earlier this week. I hope they lubed up well as this morning £600,000 was raised at just 2.75p. Ouch! But this money will be pissed away just like all the other monies this POS company has raised. The City's No 1 oil analyst, Zac "the Knife" Phillips of SP Angel is damning in his morning email to clients. The great man opines:

Tern – FY18 results: same old same old...

Published 122 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) has released its FY18 results. Last year’s numbers were full of holes and I thought it pretty clear that it needed more cash, even if the auditor thought otherwise. But the Tern rocket went into full gear, the shares raced ahead and it got its cash. Now the shares have again crashed back to earth, changes have been made to accounting matters and Device Authority seems to have been downgraded – although its valuation seems to equate to sticking your finger in the air! But it is the same old jam tomorrow story and not enough cash...

Blue Jay Mining - Placing being sounded out - City source

Published 123 days ago

We have warned you time and time again that Blue jay Mining, the stock promoted shamelessly by disgraced share promoter Old Mother Michael Walters and SP Angel's John Meyer on the basis of bogus "imminent" offtake deals was one to avoid like the plague. The shares are off by 20% today at 9.1p and, a reliable City source, says that investors are being sounded out about a material placing. But at what price?

Woodford dog Netscientific clarifies on PDS, but is it telling the whole truth? Er....

Published 123 days ago

Neil Woodford dog, AIM-listed Netscientific (NSCI) seems to have been forced to put out a statement over its investee PDS which merged with Nasdaq-listed Edge Therapeutics (EDGE) and the combined entity is now listed as PDS Biotechnology (PDSB). 

WYG – after profit warning, CFO walking, now 0.6p dividend cancelled as covenant breach waived (for now). Sell.

Published 123 days ago

Dear, oh dear – every time we get an announcement from AIM-listed project management and technical consultancy purveyor WYG (WYG) the news seems to go from bad to worse, and hats off to Steve Moore for his unremitting bearishness on this. The latest news is that the banks have agreed to waive the 31 March covenant test (which the company had previously warned it would fail) but the 0.6p dividend per share - which was declared on 4 December 2018, payable on 4 April - has been cancelled. How embarrassing is that?

Verseon Placing : Neil Woodford spunks $10m investor cash (again) at wrong price – all that is rotten in his failing empire

Published 123 days ago

Neil Woodford has today spunked £7.5 million more of his investors cash in a £7.7 million placing by joke company Verseon (VERS). It is a cynical and seedy waste of other folks cash which shows the moral rot that has set in at the heart of the crumbling empire of Britain’s most disliked, failing, fund manager.

Thalassa offer for Local Shopping REIT: is Duncan Soukup having a laugh?

Published 125 days ago

Cynical Bear covered Duncan Soukup’s Thalassa Holdings (THAL) previously on ShareProphets (see HERE) and concluded that it was not the bargain he first thought it was, highlighting a few oddities along the way. Not least of his concerns was that Thalassa – supposedly an operator in the oil and gas services sector – ended up with about a quarter of the shares in Local Shopping Reit (LSR)! LSR has been disposing of its holdings and proposed a Member Voluntary Liquidation to return the cash, which Thalassa blocked. Now Thalassa has launched a takeover offer.

Filthy Forty Origo sacks Investment Adviser, shares gain 85% - someione is 'avin' a Turkish.

Published 126 days ago

AIM-China Filthy Forty play Origo Partners (OPP) has sacked its investment adviser “for cause”. Origo has been a total disaster for its investors, but a great wheeze for the investment adviser as you can see HERE: while shareholders have lost almost everything the adviser, Origo Advisers Limited (OAL), coined it in fees, bonuses and so on. You might wonder what took the company so long, but until recently the board was dominated by its investment adviser…..and then along came hero of the hour Mr John Chapman.

Bahamas Petroleum Pump & Dump – I do hope shareholders were lubed up, this will hurt

Published 127 days ago

A month ago shares in cash strapped Bahamas Petroleum (BPC) traded at 1.2p which was probably generous. for this company has struggled for years to secure the farm in partner it needs to drill its acreage in the Caribbean. But then things started to happen.

F40 Walcom – proposed sale of subsidiary to postpone death

Published 128 days ago

The final death throes of ShareProphets AIM-China Filthy Forty play Walcom (WALG) seem to be upon us. This is as a result of its biggest customer defaulting on payments, leaving Walcom with no cash, a much reduced client pool and a stack of bills to pay. On 28 February the company warned it may go belly up by the end of March. The good news is that the executioner has been held off until mid-April, and Walcom is now proposing to sell off a subsidiary to raise a bit of cash...

Haydale – even at 2p open offer raises less than 50%, shares crash again. Sell.

Published 129 days ago

Oh dear – things are going from bad to worse at AIM-listed Haydale. The bailout refinancing had to be repriced down to just 2p and the open offer raised less than half the amount wanted. And now the shares have fallen below the bailout price – which was set at 2p, the nominal (or par) value of the shares which make raising any more cash a tad difficult.

Ariana – cracking 2019 production guidance

Published 129 days ago

Last year AIM-listed Ariana (AAU) offered up production guidance of 20,000 ounces of gold – and delivered 27,110 ounces. Talk about under-promising and over-delivering. This morning Ariana offered guidance of 25,000 oz of gold. Under the same maths, that suggests we could see as much as (almost) 34,000 ounces. Of course, we shall have to wait and see what the real figures are, but with the end of Q1 less than three weeks away we shouldn’t have to wait long.

And today’s Woodford disaster is………..(yet again) Eve Sleep as auditor raises going concerns

Published 130 days ago

Yesterday it was Kier (KIE) and today his attempt to disrupt the world of bedding takes yet another glorious bow, for AIM-listed Eve Sleep (EVE) has published its 2018 full year results. Oh, and Halosource (HAL), which was revolutionising the world of water, was formally booted off the AIM Casino this morning after not being bailed out. What chance a Woodford hat-trick today?

Widecells – a total bargepole with a death spiral on steroids: SELL, SELL, SELL!!

Published 132 days ago

Normally when I see a damaging (to shareholders) death spiral in play it is with reference to company trading on the AIM Casino. We’ve had a few: Tern (TERN), Advanced Oncotherapy (AVO) VAST (VAST) to name just three. But Widecells (WDC) is listed on the main market – well, sort of: it was unleashed onto the Standard List in July 2016. But this death spiral really does take some beating!

Woodford Dog RM2: is silence golden or a sign of doom?

Published 132 days ago

Last year, as AIM-listed pallet revolutionising Woodford Dog RM2 (RM2) ran out of cash yet again (before good old Uncle Neil, armed with other people’s money rode to the temporary rescue, yet again) the company issued regular updates on its financial position. No doubt Neil was pleased, as the company eked out a few more weeks from the remaining cash. The last we heard from RM2 on its cash position was back on 23 November 2018 when we were told that following yet another placing (backed by Neil, with other people’s money) it had enough cash to last until April. We’ve heard nothing since….

Woodford dumping Provident Financial – by choice or under FCA instruction?

Published 135 days ago

Amid all the hoo-haa over Neil Woodford’s transfer of unlisted dogs from his equity income fund (EIF) in return for Woodford Patient Capital Trust (WPCT) paper, it seems he has been again pressing the sell button. Of particular interest is the sale of 1.5 million shares in Provident Financial (PFG), shares over which only a few days earlier he had offered a letter of intent to accept the all-paper offer from Non-Standard Finance (NSF). What a spiv!!...

2000 Morons who want more fraud on AIM ask parliament to ban shorting

Published 135 days ago

Over on the LSE Asylum they are getting terribly excited about a Parliamentary Petition to ban shorting AIM stocks. If they can just find another 98,000 morons to sign (I’d start with the Frontera (FRR), Quindell (QPP) and Cloudtag (CTAG) shareholder lists) then this idea will be debated. Fraudsters must be praying they do...

A sobering statistic from the City's No 1 oil analyst

Published 136 days ago

You know how Chris Oil and others blather on about how oil wells have a 50% or 25% COS? Well here is a note from the City's No 1 oil analyst Zac Phillips of SP Angel covering the Winx well in Alaska which puts this into context. Enjoy.

Tom Winnifrith Bonus Bearcast: WH Ireland is a shit-show (as predicted) but this is an industry in crisis

Published 136 days ago

In this bonus bearcast I comment on today's lack of profits warning from WH Ireland (WHI) and the bailout placing now underway which I had predicted. I look at WH Ireland and its woes but it is symptomatic of an industry in crisis. FinnCrap (FCAP) must warn sooner or later and most of the rest of the Nomad/brokers already have. What is needed is massive wage cuts across the board. Thankfully for supliers of coke and hookers, that will not happen which means a structural and cyclical crisis will claim more casualties soon. If you enjoyed this slating of the City's broken business model why not support the Rogue Bloggers for Woodlarks HERE.

BlueJay Mining – between a rock and a hard stone

Published 137 days ago

There is extensive coverage on Blue Jay Mining HERE already and so I won’t go into the extensive issues of misleading offtake announcements, large stake holder sales, non delivery on many company time lines and shameless ramping by Old Mother Walters, John Meyer of disgraced SP Angel and others.

Boxhill – Lord Razzall takes a lesson in using an Adam Reynold’s keyboard

Published 137 days ago

At the end of January we were told that Lord Razzall was to ride off into the sunset in July and was stepping down from the executive part of Executive Chairman of AIM-listed POS Boxhill Technologies (BOX). Well, it seems that he has used the extra time well and learned how to use an Adam Reynolds (who has absolutely nothing to do with this nonsense of a plc) keyboard - you know, the one with no numbers on it!

Tern – takes a walk on the Wyld side

Published 138 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) updated the market this morning on its wholly-owned investee flexiOPS with lashings and lashings of jam-tomorrow and oopsie, a profit warning buried in the text with regard to Wyld Technologies.

Mayan Energy – Sack Charlie Wood & the BOD or the shares are worthless

Published 139 days ago

Mayan Energy (MYN) thought it had good news last week but if a god company ( and no-one is saying that Mayan is that) meets a bad management it is the reputation of the latter which emerges intact. Thus the City’s No 1 oil analyst, Zac Phillips of SP Angel has renewed his call to sack the board starting with Charlie Wood. The great man writes:        

Neil Woodford keeps the FCA plates spinning a little longer

Published 140 days ago

It is almost possible to feel sorry for Neil Woodford. Al three of his funds are overdrawn, performance has been dire and those nasty people at ShareProphets keep on poking fun at Britain’s most successful fund manager. And to cap it all it looks as though the FCA has been on his back too. And today dear old Neil has started a big swap of unquoted Woodford Dog paper for…..er….Woodford Dog paper in the form of WPCT.

F40 Walcom – trading dire, defaulting customer still not paid, all over at end of March?

Published 141 days ago

Well, you can’t say you have not been warned! ShareProphets AIM-China Filthy Forty member (one of the few remaining) Walcom (WALG) warned yesterday that Trading in the first two months of the financial year has been significantly below budget. But that was the minor issue, as its defaulting customer still hasn’t paid up. Walcom is pretty specific over its predicament;

More Norwegian disasters for Neil Woodfjord (geddit?): Thin Film and Idex

Published 142 days ago

morning the second of two Norwegian Neil Woodford dogs reported numbers to December. Thin Film (OB:THIN) announced more losses and SFA turnover in the wake of the abrupt departure of Richard Bernstein’s (of Crystal Amber)  announced on Monday. Idex (OB: IDEX) managed more or less the same, although it raised $25 million recently so at least it has cash to burn.

Conroy Gold and Natural Resources – Interim drivel and a balance sheet from hell: SELL

Published 142 days ago

With its sister company, Karelian Diamonds (KDR) having published interims a couple of weeks back showing balance sheet in all sorts of trouble, this morning Conroy Gold and Natural Resources (CGNR) took its turn – where we find the same problem, and some class comedy from the good it’s the way I tell ‘em Professor.

Telit finally completes the sale of its Auto Division… well sort of

Published 142 days ago

This was the $105 million deal, announced in July, that was meant to complete on December 7, then January 31 , then February 20 and now… well it appears China based TUS does not have all the moolah it needs yet. 

SPOOOOOOOF or Snouts in the trough? YU’ve gotta be joking

Published 143 days ago

Sometimes a company issuing options can have a positive spin. Think Big Sofa (BST) under the new management of Kirsty Fuller, having ‘fessed up the uselessness of the previous regime and where options were handed out at 3.5p but only exercisable if the shares clear the 6p mark.

Photo Article: Mercantile Ports – just where has all the money gone? Target 0p

Published 144 days ago

The fact that Mercantile Ports & Logistics (MPL) is run by a crook and has misled investors on a serial basis over many years is not in doubt. Yet greedy City financiers, notably Nomad & broker Lagos Securities (CNK)  continue to earn vast sums raising cash for this POS which claims to be making progress on building a new port in Bombay, India. The photos below demonstrate that is just plain horse.

Minoan – Director share purchases: should we take comfort? Well, yes.

Published 144 days ago

AIM-listed Minoan (MIN) this morning announced that three directors have put their hands in their pockets and bought shares costing a total of £100,000. That is a significant enough sum and normally would encourage me to buy more, but the trade dates reported are 3 December 2018! Why has it taken so long to report - surely this is a breach of AIM rules! Er, not so fast…..….

Independent Oil & Gas unwittingly confirms Sunday LOG scoop but simply fails to understand the scandal

Published 145 days ago

AIM listed Independent Oil & Gas (IOG) has today issued a statement in relation to London Oil & Gas (LOG) run by Amber Rudd’s pal and donor Simon Hume Kendall and it unwittingly confirms Sunday’s scoop HERE that LOG is the recipient of £122 million of the £176 million leant by London & Capital Finance, the ponzi now in administration and under full FCA enquiry.

Do the maths stupid: London & Capital Finance MUST be a ponzi, folks MUST go to prison

Published 145 days ago

Yesterday’s posting HERE of the Administrator’s Report into London & Capital Finance, the mini bonds provider founded by Amber Rudd’s chum Simon Hume Kendall has got Cynical Bear and others doing their sums and they, and I, conclude, this now just has to be a ponzi and folks must go to jail. Let me explain.

Woodford – latest numbers show borrowing disaster in the making as chickens come home to roost

Published 145 days ago

Woodford Investment Management has published its latest monthly numbers to the end of January from its Equity Income, Income Focus and Patient Capital Trust. At first glance it does not look too bad, but a more detailed examination shows that debt remains a central issue, as does redemptions, and Woodford Patient Capital Trust (WPCT) seems on the edge of imploding.

Five slam-dunk sells for 2019 – one down, four to go

Published 147 days ago

They say that a week is a long time in politics (attributed to Harold Wilson), and so it seems with the equity markets. A week ago my portfolio of five shares to sell was actually up by 4.6%. Now, all of a sudden we are at minus 8.6%.

Ariana – Q4 numbers for Kiziltepe read very well

Published 147 days ago

I called time to sell some Ariana (AAU) last week but was convinced of further upside and thus while I wanted to sell some, I was definitely hanging on to the majority of my shares. This morning – perhaps a little later than I had expected - Ariana filled in the details of Q4 gold and silver production from its joint venture plant at Kiziltepe. There was no need for any anxiety over the news: it was very good and this is turning into a habit. Long may that continue!

Chris Oil – I am sure he’s nothing more than a fantasist, others suspect worse – ref Union Jack

Published 148 days ago

My big trouble in life is that I am a charitable soul and, as thirsty share bloggers know, bend over backwards to see the best in folks. Others are far less charitable. That brings me to a now deleted tweet from Chris Oil from 1.07 PM on Wednesday 20th February on Union Jack Oil (UJO).  Chris may have thought that history was erased but a co-conspirator has preserved the golden prose below:

OUZO TIME! Haydale - you were warned and warned, rescue bailout placing at just 2p

Published 148 days ago

I sincerely hope that no ShareProphets readers were left holding this particular baby we warned you often anough.

Telit – Chinese takeaway delayed again

Published 148 days ago

The sale of the auto division of the Telit (TCM) fraud to Hong Kong based TUS was meant to complete on December 7. Then on January 31. Then on February 20 and now… another few days we are told. Remember this deal was first announced last July so it is not as if anyone has had to move fast.

Purplebricks – catastrophic warning: target price 0p

Published 149 days ago

You cannot say that this site has not warned you repeatedly. But some folks like Neil Woodford knew better. Britain's top share blogger (mornings only), Thirsty Paul Scott, was also a fan and we know how accurate his analysis is. I don't know about Scott but Woodford has been averaging down aggressively. Neil always knows better which is why he is worth £37 million a year. Today we have another high profile horror story for Britain’s most conceited fund manager & yet another shocker for the nation's thirstiest share blogger, with a truly shocking lack of profits warning. I shall explain below why this makes the target price 0p....it is enough to turn a man to drink.

Haydale – ouzo on the way and Proactive should be ashamed; still a screaming sell

Published 150 days ago

Well here we are: I’ve  been saying for months that AIM-listed Haydale (HAYD) had to raise cash in a material way, all the way down from 78p last June and now we have word of a placing at just 5p which Steve Moore published yesterday. Amazingly, even after the company more-or-less confirmed our story (or failed to deny) the shares still sit at 12.25p, having been as low as 9.75p. Some people simply won’t be told. But Proactive should be shame-faced.

BREAKING: Haydale Graphene bailout placing at just 5p - SOURCE. Ouzo o'clock imminent for Nigel Somerville

Published 150 days ago

We hear it's bailout placing ahoy for Haydale Graphene (HAYD) - at just 5p. Ouzo o'clock imminent for Nigel Somerville...

Motif Bio – lender Hercules starts plug pulling and a tweet that did not age well

Published 152 days ago

I warned you all in a bearcast last week that the real threat to Motif Bio (MTFB) was that lender Hercules would start to want its money back and that the company’s cash crisis would thus soon become critical. And lo it came to pass.

Karelian Diamonds – “Great Pleasure” in presenting Interims justified? Er, no…….SELL!!

Published 152 days ago

This morning AIM-listed Karelian Diamonds (KDR) - the Prof Conroy sister to Conroy Gold and Natural Resources (CGNR) - offered up its Interims to the end of November. Prof Conroy was pleased, but should shareholders be enthused?

Five slam-dunk sells for 2019 – mid-February update

Published 152 days ago

It is four weeks since my last update, so it is time to take another look at my sells for 2019. The five have, as a whole, had a better month but I cannot help but think that for three of them the precipice approaches...

The strange case of NEX-listed Sport Capital Group and Palermo FC (of Italian Serie B)

Published 154 days ago

NEX-listed Sport Capital Group plc (SCG) used to be known as failed miner Pelican House Mining, also of the NEX province. Following a general meeting in January 2019, the name change was effected, alongside a placing to bring in Eight Capital, and Peterhouse Capital turned up with 4.72%. But since there was hardly a bean in the bank, it might be a little surprising to see that on 17 January it had bought Italian football club Palermo, of Serie B, for a nominal sum.

The Grim Reaper comes a-calling on Woodford (twice). Will RM2 be next?

Published 156 days ago

Another bad day at the office for Neil Woodford as this morning he is mourning the loss not only of Halosource (HAL) – whose revolutionary water was not good enough to put out the insolvency fire – and Utilitywise (UTW) which called in the administrators as announced at no-one-is-watching o’clock last night (6.20pm) and confirmed this morning. Clearly Utilitywise couldn’t provide the water either.

Now it is UK Oil & Gas where David Lenigas is ramping shamelessly and arguably committing market abuse

Published 156 days ago

If you had followed the last two share ramps from Big David Lenigas you would be feeling pretty sore. In less than two months you would have spunked two thirds of your cash on Angus Energy (ANGS) and a third on Greatland Gold (GGP). Well done Dave. Today he is pumping UK Oil & Gas (UKOG) as you can see below but has he gone a step too far?

NEX-listed Gamfook DANfooked!

Published 156 days ago

As readers know, our dear friends and comrades at Daniel Stewart & Co plc seem to have run in to a spot of bother in the solvency department, and has now lost its licence to operate as a Corporate Adviser on the NEX Exchange.

Chris Akers, Sabien and Justin the Clown – who has been a very naughty boy then?

Published 158 days ago

In his lamentable podcast yesterday Justin the Clown commented on Sabien Technology (SNT) suggesting that it was either “punt of the week or investment of the year”. This was seized upon by “colourful” stockmarket operator Chris Akers who sent out the tweet below.

Cabot Energy postpones insolvency with up to £2.8 million fundraise at just 0.1p – Oh dear

Published 158 days ago

Once upon a time shares in Cabot Energy (CAB), then Northern Petroleum, traded at almost 150p. Today it announced a bailout funding at just 0.1p. despite it raising $15.3 million at 5p just a year ago. Oh dear… and it could get worse.

Echo Energy.. shit happens but cash is now the issue

Published 158 days ago

Too many mug punters who gamble on oil and gas explorers seem to think that with modern technology, blah, blah, blah drilling is a slam dunk certainty or at the very least, highly likely to succeed. They blather on about 70 or 80% COS statistics without a clue. If you look at AIM RNS’s the reality is that, across the board,  the vast majority of wells drilled are not commercial. And that brings us to today’s disaster from Echo Energy (ECHO).

Ariana: cracking news, 2p mark hit - time to take a few profits (but leave some on the table - 2.5p next stop)

Published 158 days ago

My buy tip for 2019 - AIM-listed Ariana Resources (AAU) – has made the 2p to sell target price: time to take some profits, then - and where’s the ouzo? This is on the back of cracking news of a £3.8 million return of capital to the parent. The implications are that Kiziltepe is throwing off plenty of cash – way more than had been previously disclosed.

Frontera arguably insolvent says Judge as he finds against it in crunch case - another breach of AIM Rules

Published 158 days ago

The whore blogger Malcolm Graham Wood and Frontera Resources (FRR) repeatedly asserted that legal claims against it had no merit and would be thrown out. A Judgement handed down on 22 January, which we publish below, shows that was not the case. The Judge slams claims made by Frontera in the case against lender Outrider as "fantastical" says that it is "strongly arguable" that Frontera is insolvent and rules against the formerly AIM listed POS.

Blue Rock Diamonds – a month of pump and now the dump- a case study in how the AIM casino operates

Published 159 days ago

Over the past month the share price of AIM casino listed Blue Rock Diamonds (BRD) has soared from 0.29p to 0.38p. Some lucky souls paid up to 0.4p on Friday. Let’s review the timeline:

BREAKING: From Death to a Standard Listing, Daniel Stewart the comeback...

Published 159 days ago

More than a week after we exposed the coming death of Daniel Stewart & Company the weekend press has finally woken up and is reporting how it went into administration on Thursday. But something bigger happened on Thursday. Daniel Stewart, c/o former boss Adam Wilson is coming back to the market via a standard listing. Let me explain with the documents below..

F40 China New Energy – no news, shares plunge 18%. Why?

Published 160 days ago

It seems that someone wants out of ShareProphets AIM-China Filthy Forty play China New Energy – the shares plunged 18% yesterday to just 1p on no news. And yet only on Monday we were told that some outfit in the BVI had offered up a £1.118 million loan “for general corporate expenses”, convertible at 4.7p upon a listing in Asia. This, from a company which claims to be profitable!

Cloudbuy – Smoke and Mirrors Trading Statement: SELL

Published 161 days ago

AIM-listed Cloudbuy (CBUY) has offered up a trading statement for the year ended December 2018 and it seems that still not all of the garden is smelling of roses. Revenue was down by around 25% and although we are told of two opportunities which together would see the company reach cash-flow breakeven, we are not told when and we don’t know the likelihood of conversion to a contract.

Whore Blogger Malcolm Graham Wood of Frontera fraud infamy chats to Police caption contest result

Published 162 days ago

Yesterday, in the wake of more damning revelations about the Frontera Resources (FRR) fraud we brought you an exclusive picture of its best paid promoter, the whore blogger Malcolm Graham Wood helping the fuzz with their enquiries as you can see below. We asked you for suitable captions and,  as you can see HERE, there were numerous good entries. But there can be only one winner of a semi naked photo of Britain’s top share blogger (mornings only), Thirsty Paul Scott….

Tom Winnifrith Bearcast: ouzo time at Sheriff Towers as Accesso halves

Published 163 days ago

I told you on November 8 that shares in Accesso (ACSO) would halve as I published a major short dossier. Oh how my critics laughed and scoffed for they all know better. Well it has not taken long for it to be ouzo time and vindication again at Sheriff of AIM Towers. I discuss DP Poland (DPP), Fox Marble (FOX) and a shameful ramp by a pig ignorant mother called Blue Horseshoe on Brokerman Dan's website, that is to say Dev Clever (DEV)

Neil Woodford disaster Halosource – the game is almost over & it's a wipeout

Published 163 days ago

Halosource (HAL) was the company Neil Woodford backed heavily to disrupt the world of drinking water. Whatever…

Frontera - more shocking papers emerge showing the extent of the fraud

Published 163 days ago

Slung off AIM a few weeks ago, Frontera Resources (FRR) still has its fans in the Bullettin Board Moron community but the latest trove of emails to emerge, which we publish in full below, will shock even them as the extent of the fraud emerges.

First Derivatives – surprise banking news raises new questions & 8 questions for tomorrow's rampfest

Published 164 days ago

First Derivatives (FDP) has rather shocked us all with news that it has secured a new banking facility for £130 million.  But that begs another big question which I have added to my list for tomorrow’s capital markets rampfest. 

IQE – ignore today’s dire warning from Austria’s AMS Ag at your peril

Published 165 days ago

Okay so follow the money….

Video: Dave Richards of Wandisco starts to stick it to the City great and good, this will be fun

Published 165 days ago

I have always liked Dave Richards of Wandisco (WAND) and indeed own a few shares. In the video below he tells the BBC how his firm was almost ruined and wiped out by folks parachuted on to the board from big corporations. But that is only half the tale. The question is who imposed them and backed them? The answer is City advisors and institutional fund managers. I spoke to someone close to Dave this morning and Dave will spill the beans on the City grandees who almost screwed his company up. He's a brave guy for speaking out. This is going to be illuminating and entertaining and will cause some real discomfort in the Square Mile. Bring it on...

F40 China New Energy – convertible loan at a massive premium (too good to be true?)

Published 166 days ago

AIM-listed member of the ShareProphets AIM-China Filthy Forty, China New Energy (CNEL) has announced a £1.118 million (before expenses) convertible loan with an entity called Double River Limited of the BVI. With the shares previously at just 1.125p, the conversion price of 4.7p seems a little on the too-good-to-be-true side of things, and is conditional on China New gaining a listing on a stock market in Asia. What’s not to like?

Angus Energy - another David Lenigas twitter ramp costs his flock of followers dearly

Published 166 days ago

Below I bring you three tweets from the great promoter himself, Mr David Lenigas urging folks to buy Angus Anergy (ANGS) shares at up to 14p as recently as six weeks ago. Uh Oh those in his flock of followers who bought into this ramp must be feeling a tad sick today with the shares at just 5.5p after a statement that raises big questions about Paul Vonk, ousted as CEO last week and the matter of material non disclosure.

DEADLINE MIDNIGHT TODAY: Bulletin Board Moron of the Week Contest in honour of the Frontera fraud - can you beat this one?

Published 168 days ago

The AIM demise of the fraud Frontera (FRR) has unleashed a barrage of Bulletin Board idiocy not seen for years. It seems that the idiot from every village in the land was invested here and the comments on the Asylums at the LSE, ADVFN and iii as well as on twitter restore ones faith in the sheer stupidity of your fellow man. To win a semi naked photo of Britain's top share blogger before lunchtimes, Thirsty Paul Scott, simply post your examples of supreme idiocy ( not necessarily on Frontera) in the comments section below. The deadline is midnight on Saturday 2nd Fenruary. I start off with my nomination. Can anyone beat this gem from tune player on the ADVFN Asylum.

Don't worry Daniel Stewart - someone still loves you...

Published 168 days ago

Following my revelations yesterday the deadwood press have their knives out for Daniel Stewart (DAN) today. Maybe the CEO's younger broker did not threaten tol beat them up and they did not get fascist lawyers letters for exposing this POS, but the firm is almost friendless as it prepares for administration. I say almost...

Yu – reading through the numbers

Published 168 days ago

As Tom Winnifrith said in his Bearcast on Wednesday, Yu Group (YU.) offered numbers in its latest trading statement which are completely meaningless – and thus its net cash position could be anything. I’ve been trying to piece some of it together.

Filthy Forty Walcom – anything to tell us?

Published 169 days ago

As Tom Winnifrith drowns himself in Ouzo for breakfast this morning, after AIM-listed Telit (TCM) put off its disposal and fellow AIM-listed Altona (ANR) and Alien Metals (UFO – formerly Arian Silver) were suspended on AIM, I wonder if I’m missing out. Back on 21 November 2018, AIM-listed Walcom (WALG) of the ShareProphets AIM-China Filthy Forty told us it had a debt repayment due in January…..

Updated 2: Has Daniel Stewart gone tits up? Almost......

Published 169 days ago

When the boss’s younger brother threatens to “beat up Tom Winnifrith because of the articles he wrote,” when you get into bed with disgraced king fraudster Rob Terry and then send Tom Winnifrith fascist lawyers letters you know that Mr Karma is going to get you sooner or later.  You are either on the side of the fraudsters or you support the fraudbusters and that brings us to Daniel Stewart (DAN).

Haydale – Wheelsure suspended pending accounts: where does that leave the collaboration?

Published 169 days ago

Back on 27 November 2018, AIM-listed Haydale (HAYD) announced (via RNS Reach, mind you) a collaboration with NEX-listed Wheelsure (WHLP) was being joined by Manchester University’s Graphene Engineering Innovation Centre (GEIC) in a project to develop an intelligent new product pairing Haydale's functionalised graphene sensor technology with Wheelsure's failsafe locking solution. Of course, Haydale needed cash then (as it does now). But then so did Wheelsure (see HERE). As such it all looked like a ramp.

Telit – auto sale delayed how does FinnCap sign off on such nonsense with a straight face?

Published 169 days ago

As I warned would happen yesterday, the sale of Telit’s (TCM) auto division to Hong Kong based TUS has again been delayed. We are now told that it won’t meet the 31 January (new) deadline but will happen on or before 20 February after the Chinese New Year. Whatever… the statement itself throws up an enormous red flag, how on earth Nomad FinnCrap (FCAP) signed off on this crap defies belief…it is almost as if it is only in it for the retainers and does not care about doing its job properly.

Boxhill – death marginally postponed as Razzall rides into the sunset

Published 171 days ago

I just don’t know where to start! AIM-listed Boxhill Technologies is back trading – at least for now – having released bullshit numbers (as discussed by Tom Winnifrith HERE) for its FY to Jan 31 18 accounts and the following interims. We are told on the calamity that was the disposal of Emex that the board is confident the £2 million loan note is good, but that Lord Razzall, Clive Hyman and Andrew Flitcroft are departing the board by the end of July (so who is left to say the loan note is good?) and that the “sinking fund” which was supposed to make it good hasn’t got off the ground yet. Er…right.

Bluejay Mining - after pump and dumper SP Angel, founder Jeremy Whybrow now heads for the exit

Published 171 days ago

Following on from my article on Sunday on Bluejay Mining (JAY) covering the very large share sales that showed up on Friday last week, news came out yesterday afternoon confirming that the seller of a chunky 6.48% of the company's float (netting a cool £6 million+) was co-founder and long time Rod Mcillree acolyte Jeremy Whybrow. That should set more alarm bells ringing for the bulls...

City’s No 1 oil analyst sticks knife into Mayan after latest bailout placing? Where is the cash going?

Published 171 days ago

Mayan Energy (MYN) has today raised £750,000 at 0.12p in its latest bailout placing but it comes with an admission that it has forgotten to file returns to the US taxman, the IRS, for an unspecified period and thus who knows how much of that cash will be swallowed up in unpaid tax bills. As such we have no idea how fast the clock is ticking on the next bailout placing. The City’s top oil analyst, Zac Phillips of SP Angel is scathing. He writes:

Frontera shares now worth 0p but changing hands at just 0.06p

Published 172 days ago

The whore blogger Malcolm Graham Wood urged shareholders in Frontera Resources (FRR) to hang on after the shares – 0.28p at suspension, down more than 99% on the IPO – were booted off AIM.  The morons insisted they would be buying more as soon as they could and that shorters would be unable to close. Here, c/o the great Northern bear Waseem Shakoor is proof of the reality.

Advanced Oncotherapy – who’s been selling? Tut, tut!

Published 172 days ago

AIM-listed Advanced Oncotherapy (AVO) announced director and significant shareholdings this morning, following its latest fundraising in December and resulting share issues yesterday. But it seems that one of the directors has been – undisclosed – selling!

Sensyne – a Neil Woodford success story? No: Red Flags (and accounting blooper) Central

Published 172 days ago

AIM-listed Sensyne Health (SENS) was spun out of Drayson Technologies and joined the Casino last August, raising £60 million in the process and has just published its first set of accounts as a listed company. No doubt Neil Woodford will have enjoyed the market response as the shares put on 7% (Woodford holds 20%), although not enough to extinguish his pain at Utilitywise (UTW) as the latter announced the dreaded “strategic review”. I doubt he will have enjoyed Sensyne’s ride as a plc either, as the IPO was at 175p per share and even after this rise the shares are 167p. Hardly a cracking endorsement! So what does Sensyne do? Well, it is – of course – disrupting its world! According to Woodford:

Rurelec – things are starting to look up

Published 173 days ago

AIM-listed Rurelec (RUR) has been little short of a disaster for the past few years, and more recently as the company has struggled to survive it has been hit by plenty of bad luck. I keep saying it, but I am amazed the company is still here at all. Last week things started to look rather better – or at least less terminal...

Frontera Shareholders Action Group established - to support the board! Bonkers

Published 173 days ago

So what if Frontera (FRR) got slung off AIM because its board told lie after lie, some folks just want another punishment beating it seems. And thus loyal shareholders "long and strong" have set up a Shareholder Action Group to assist the board. hat-tip to reader Juicin for spotting this. The group lays out its aims and objects thus: 

Bad news for AIM - Class Action against Cantor Fitzgerald re African Potash fraud fails to get off the ground

Published 175 days ago

African Potash (AFPO) released 2 RNS statements about claimed deals in Southern Africa,. The shares raced ahead. Nomad Cantor Fitzgerald and its QE Mr Stuart Dick signed off on those RNS statements but cannot have bothered to check the original documentation about those deals. Because I got hold of that documentation & published it and that showed the RNS's were misleading. But they caused a share spike allowing a bailout placing to go ahead.

Ariana – Directors step in to mop up the buy-back fiasco: still a strong hold

Published 175 days ago

AIM-listed Ariana Resources (AAU) announced a series of director share purchases which, as promised, mops up most of the share buy-back shambles earlier this week. This is good: the shares are in strong hands and shows that the directors have faith. It also shows that they are doing their best to make amends out of their own pockets.

And today’s Neil Woodford disaster……Midatech (again): jam tomorrow, no cash today!

Published 175 days ago

AIM-listed Midatech (MTPH) is a cancer-busting company which uses its Q-Sphera technology which, according to Proative Investors, works in a different way to deliver the drug at the right time. Ah, so we have a disruptive cancer-buster…..step forward Neil Woodford, who backed the IPO back in 2014 (at 267p vs share price now just 3.4p!) and ponied up to support placings along the way. Oh dear. But it gets worse……although the PR comedy this morning makes up for it!

Frontera Resources still lying brazenly as it is slung off AIM

Published 176 days ago

Frontera Resources (FRR) did not wish to leave the AIM Casino. Having its shares freely traded meant it was able to obtain death spiral finance to bay its bills. No trading facility, no death spiral, no future. But…

And today’s disaster from Woodford is (again!) Eve Sleep

Published 177 days ago

AIM-listed Eve Sleep (EVE) is another Neil Woodford disaster story – this time in the world of mattresses. Naturally, it is going to disrupt the world of bedding, a world obviously in need of revolution. Not!

Escape Hunt – this is bonkers

Published 178 days ago

Hat tip to the UK’s No 1 private client broker for spotting this AIM casino accident waiting to happen.

Ariana – buyback whoopsie at 4.29pm, but a minor issue - blame Roland "fatty" Cornish. Strong hold.

Published 179 days ago

Oh dear. AIM-listed Ariana Resources has announced that the share buyback previously announced on 16 January 2019 – and which occurred on 4 January – when the company bought back 4.5 million shares into treasury was not allowed as the company didn’t have the distributable reserves available on the balance sheet. Red faces all round, but this is not a major issue.

Quadrise Fuels: Death postponed until October

Published 179 days ago

Quadrise Fuels (QFI) announced a £2.16 million open offer at 2.4p on 7 December warning that  unless it was supported the company would be crash landing in tits up alley in January. It extended the closing date by a week until last Friday and today revealed that “it was delighted” that it had raised gross proceeds of £1.51 million. Death has been postponed. But not for long.

Ariana – the good news continues with developments at Kizilcukur

Published 180 days ago

AIM-listed Ariana Resources (AAU), one of my tips for 2019, has been on a bit of a roll so far this year. It has been helped by the weakness of the Turkish Lira and a bit of strength in the price of gold, but recent news of gold and silver production from its Joint Venture processing plant at Kiziltepe has helped too, as has a share buy-back. This morning Ariana offered an update on its wholly-owned Kizilcukur project.

5 Sells for 2019 – early January update

Published 180 days ago

I thought I’d update on my 5 sells for 2019 as after just a couple of weeks a few cracks are beginning to show already. The five, Telit (TCM), Haydale (HAYD), Yu Group (YU.), Walcom (WALG) of the ShareProphets AIM-China Filthy Forty and First Derivatives (FDP) are not necessarily shorts – some, such as Walcom, couldn’t be shorted anyway. But they are sells.

VAST – having promised no more death spirals and then done one with no conversion notice within 30 days…….. WTF, Nomad Fatty?

Published 182 days ago

I highlighted the latest in a series of death spirals entered into by AIM-listed Vast Resources (VAST) on 22 December (see HERE). That was after the company had said it wouldn’t do any more, but then announced its issue at no-one-is-watching o’clock on 21 December 2018. The thing is, it told us that tranches of the death spiral loan would not be convertible into shares of the Company (the “Shares”) for the initial 30 days from the date of their respective advance. And so today, 18 January - and thus four weeks and not thirty days later…..

Apple supplier TSMC warns – what about the read across to IQE?

Published 184 days ago

I see that The Telegraph has reported on a warning by Taiwan Semiconductor Manufacturing Company (TSMC) of a sharp fall in sales due to a global slowdown – not least of which will be due to its sales of chips to Apple for iPhones and iPads.

UPDATED - BREAKING: Altona – if this is not insider dealing by the CEO & a NED I am a banana: will the FCA do anything?

Published 185 days ago

I have reported the CEO of AIM Casino listed Altona Energy (ANR) to the FCA for insider dealing. Nicholas Lyth is as guilty as sin and there cannot be a more clear cutr case out there. If the FCA does not act then it is admitting that the rules do not matter any more if you are "part of the club". Let me explain.

Telit – auto sale on track, trading statement is a load of cobblers: sell

Published 186 days ago

There is good news and bad from Telit (TCM) today. But overall the company founded by mortgage fraudster & fugitive from US justice Uzi Katz, who is under FCA investigation and still pulling the strings, remains a total bargepole at 132p.

Haydale – after yesterday’s selling news, yet another RNS Reach

Published 186 days ago

I see that AIM-listed Haydale (HAYD) has released yet another RNS Reach to tell of an eighteen month supply agreement. The shares have jumped once again, by 12%, But, of course, it is an RNS Reach and thus should be viewed as a marketing, rather than anything significant such as mega-earnings.

Haydale – another insti bailing and more insider dealing

Published 187 days ago

AIM-listed Haydale (HAYD) is still seeing its management selling shares and another institution seems to be bailing out. Of course, we know that Haydale needs a placing and it is only a matter of time before the £3.2 million black hole in the balance sheet as predicted by paid-for researcher Hardman (so I’ll bet it is more) has to be addressed.

Tern – well surprise, surprise: another loan to Device Authority!

Published 187 days ago

OK we are a couple of weeks later than I predicted, but AIM-listed jam-tomorrow Internet of Things investment company Tern plc (TERN) has announced yet another convertible loan to its principal investee Device Authority this morning. Tern may be pleased with the progress that DA continues to make with its partners, including the recent contract secured with a leading medical device manufacturer (as announced on 27 December 2018) but clearly DA is still burning cash at a prodigious rate!

Ariana – cracking numbers right on cue

Published 187 days ago

AIM-listed Ariana Resources (AAU) released Q4 gold production numbers this morning – exactly as predicted HERE yesterday. Even better the numbers were pretty much in line and the shares have responded higher – not quite a bottle of ouzo yet, but it looks to be well on the way.

Breaking: the Other nail in the London Oil & Gas coffin that will bring down AIM listed Independent Oil & Gas

Published 187 days ago

Oh dear, oh dear. This really is proof that Independent Oil & Gas (IOG) is - whatever its scumbag Nomad FinnCrap (FCAP) claims -complete toast. You will remember that Independent owes more than £30 million to unquoted London Oil & Gas. That money has to start being repaid within a few months and Independent will go bust unless London provides more funds. But London has borrowed money from LCF a related party firm subject to a full blown FCA raid as it is a ponzi fraud as we showed here yesterday. That cash is repayable on demand. Now read on....

Ariana – will production report see a lift to the share price? I hope so!

Published 187 days ago

Judging by the form of my buy tip for 2019 AIM-listed Ariana Resources over the past nine months, we should see the latest production numbers from its Kiziltetepe joint venture gold plant in Turkey this week. Numbers for the first three quarters have already blown the company’s annual production forecast of 20,000 oz of gold out of the water, having reached almost that figure in nine months. Meanwhile shares in Ariana have had a good run of late, moving up from a low point of almost 1.1p in October to the current 1.575p, putting the company on a market capitalisation of £16.7 million.

Another look at more red flags at the ponzi underpinning Independent Oil & Gas

Published 189 days ago

AIM Casino listed Independent Oil & Gas (IOG) is dependent on financing from London Oil & Gas which in turn is dependent on financing ( repayable on demand) from a ponzi called London & Capital Finance now the subject of a full FCA raid and lockdown. We have covered this extensively already but there is more...

Flybe shares collapse – takeover at just 1p per share by Virgin & Stobart: you were warned

Published 189 days ago

Oh dear, Oh dear. Is that the smell of burned Bulletin Board Moron fingers I detect? Flybe (FLYB) shares were 16p last night. This morning it has announced an agreed takeover from Virgin and Stobart (STOB) at just 1p per share. And that is generous. Lucian Miers and I did warn you.

AIQ – a one year anniversary of shame

Published 190 days ago

It has now been exactly a year and two days since VSA completed its “due diligence” on AIQ (AIQ) and brought this cash shell to the Standard List. And what a year of shame it has been.

Angus Energy – sheer AIM Casino comedy with Lord Lucan unless you are a shareholder in which case a tragedy

Published 191 days ago

Where to start? This is laughable unless you are one of those suckered in to buying shares in Angus Energy (ANGS) by the diarrhoea of pre-placing ramp tweets from shameless Big Dave Lenigas. Then it is a bit of a tragedy. Today’s newsflow is hilarious.

Hargreaves Lansdown gives Neil Woodford another Blow Job as its clients lose even more money

Published 192 days ago

As this morning’s shock revelations about Neil Woodford’s greed and reward for abject failure start to sink in, I imagine that many investors in his funds will be feeling a deep sense of disgust and regret. Perhaps they will blame those who advised them to invest and who, as the performance has gone from bad to worse, to even worse, have told them to hang on or average down.  Perhaps the biggest cheerleader has been Hargreaves Lansdown which has just published another blow job type piece on Woodford.

Anglo African Oil & Gas – who is the villain here: Tom Winnifrith, Nomad FinnCrap or CEO David Sefton?

Published 193 days ago

Yesterday I revealed that Anglo African Oil & Gas (AAOG) was undertaking a massively discounted placing at 10p to raise £4 million which seems to have stirred up a real hornets nest among the Bulletin Board Morons. I have been reported to the FCA numerous times ( again) and the charge is that I am the villain. But am I? I suggest not but put up two other candidates for that eipthet and that I am the hero of this tale.

Another month passes & yet still no BlueJay Mining Offtake deal ... placing beckons

Published 193 days ago

It is becoming like groundhog day at BlueJay Mining (JAY) and the oft trailed "offtake agreement" that never materialises... Originally touted in early 2017, nearly 2 years later and despite much promotion by disgraced share promoter Michael Walters and John Meyer, the shameless head of research at scumbag Nomad SP Angel,  there seems little sign of one for BlueJay's investors.  

Meet Alec B - he owns shares in Anglo African Oil & Gas and he is a moron

Published 193 days ago

Alec B is a moron. Alec B has two followers on twitter so it looks as if the world knows he is a moron and Alec B owns shares in Anglo African Oil & Gas (AAOG) so that is proof he is a moron as you can see below.

First Derivatives – top broker Berenberg slashes target price by more than 50%

Published 194 days ago

Oops a daisy. It looks as if some folks in the City have finally been reading our exposes on First Derivatives (FDP) and are finally waking up to the issues of cash generation, or rather lack of it. Top broker Berenberg was a major bull but has slashed its target price, as you can see in the full note below, from £43 to just £21.  Welcome to the party fellows but you are still way too generous – fair value is well under £10 a share.

Haydale – more insider selling tells you all you need to know

Published 194 days ago

It was announced on Friday that the former CEO and now former board member of AIM-listed Haydale (HAYD) has been selling shares. Back in December it was his two colleagues at Haydale Ceramic Technologies dumping shares (over £110,000 worth). In September, former boss Ray Gibbs sold about 38,000 bits of confetti and now he’s sold a further 80,000 shares. That’s a fair bit of selling by insiders!

Are the wheels about to come off ref Telit’s disposal?

Published 194 days ago

I can’t help but notice that the share price of AIM-listed Telit (TCM) hit a new end-of-week low last week, closing down at just 118.9p – a level not seen since August 2017. Of course, that still capitalises the company at £152 million, which seems extraordinary for a company looking to sell its crown jewels to leave it with, according to The Sheriff, perhaps only $10-20 million of cash at peak working capital usage. And loss making at the full year. But why the collapse now? Is that anything to do with the putative purchaser?

Neil Woodford rolls the dice at GYG. Meanwhile, Companies House still awaits…..

Published 197 days ago

Is it the kiss of death? Last night it was announced that Neil Woodford had upped his stake in struggling AIM-listed yacht maintenance outfit GYG from 23.43% to 24.08%. Readers might recall that this tactic rather backfired with fully-listed Kier Group (KIE) and Purplebricks (PURP) and..the list goes on and on.

IQE: Countdown to another shocking profits warning & admission that refinancing needed now underway: Apple warns

Published 197 days ago

Oh dear. Oh dear. For those beguiled by the shoddy analysis of thirsty Paul Scott into buying shares in IQE (IQE), things are set to go from bad to worse. Much worse.  Last night Apple issued a first quarter sales warning.

The People’s Operator - TPOP goes POP

Published 198 days ago

At 5.09pm last night, no-one-is-watching o’clock (natch), The People’s Operator (TPOP) announced that it had filed a notice of intention to appoint administrators – we are told this will happen within ten days. Of course, readers of ShareProphets have known this was coming for some time (not that the company has been falling over itself to make that clear). The decision was taken on New Year’s Eve – so how on earth did it take until 5.09pm yesterday to announce it (after everybody had gone home for the night)?

Shareholder democracy AIM Casino Style – CSF gets the boot: £3.6 million for City Boy coke & hookers

Published 199 days ago

This is a typical AIM Cesspit tale of woe and greed. CSF Group (CSF) listed on the AIM casino in 2010, a smallish Malaysian company of no interest to anyone. But the advisers raked it in with fat fees and fat promises to the board and shareholders. Coke and hookers all round in the Square Mile. Wind forward to August 28 last year.

The ShareProphets share tips of the year 2019 – No 21 is from Tom Winnifrith

Published 200 days ago

Between Christmas Day and January 2nd we shall be publishing more than 20 share tips of the year – buys and sells. Twenty-first up is the second from Tom Winnifrith

What is Neil Woodford so keen to hide from you all This New Year's day?

Published 200 days ago

In 2017 Neil Woodford filed accounts for Woodford Investment Management, due by December 31, on December 20th. It was thus at a time when no-one was reading the financial press that it emerged that despite a shite year for his investors, for to the 12 months to March 31 2017, Neil himself had trousered £7 million in dividends as a reward for being so useless.

Five slam-dunk shares to sell for 2019

Published 200 days ago

Following on from my five to sell for 2018, which resulted in a gain of 38% as a bear, 2019 seems to offer more pickings. After all, the markets are very wobbly and we have the chaos of Brexit to look forward to. So here are my five to dump now for 2019.

5 Slam-dunk shares to sell for 2018 – the result

Published 200 days ago

Well the year is up, the results are in and my pick of five AIM stocks to sell has offered up a pretty good result. I doubt these shares could easily have been shorted, but I hope readers managed to avoid them at least.

Tern – “current asset” of Device Authority loan extended again

Published 201 days ago

Much as predicted by yours truly, AIM-listed Tern plc (TERN) has yet again extended the loans it has given to its principal investee Device Authority (DA). The point here is that these loans have been classed as a current asset ever since the first one was made, and they have been periodically extended – presumably because DA had no means by which to repay them.

Minoan – some good news

Published 201 days ago

AIM-listed Minoan (MIN) has offered up some good news to its investors in that 11.325 million options due to expire today and which are not expected to be exercised will not be extended. Of course, the news I would like to see is the monetisation of the Cavo Sidero asset but given that the future dilution has come down (for a change!) this is a small piece of good news.

Another day of shame for AIM: Cabot Energy spunks $16.5m in a year, warns could go bust in weeks, did ex CEO inside deal?

Published 201 days ago

Cabot Energy (CAB) which, as Northern Petroleum, once saw its shares touch 140p today admitted that unless it gets away a placing at a “deep discount” (its words) it will go bust by the end of January. Its shares, about which we have been warning for eons, have crashed by 59% to 0.625p. To think that, less, than a year ago, former CEO Keith Bush raised $16.5 million at 5p. All the money's gone.

Red Flags at Night: The People’s Operator updates on its death (or, rather, doesn't)

Published 201 days ago

AIM-listed The People’s Operator (TPOP) (until Thursday, but suspended) issued a statement at 6.24pm on Friday to update shareholders on its listing status (no Nomad and due to be booted to the great stockmarket in the Sky on 3 January) and its financial position. A prime example of a no-one-is-watching o’clock RNS – and read it carefully and it is clear that the Grim Reaper is hovering, and will strike imminently...

Inspirit – FY18 Results from the boiler room

Published 203 days ago

3.28pm on the Friday between Christmas and New Year is hardly the time to release your results unless they are really bad, and so it proved with AIM-listed Inspirit Energy (INSP). This is a company which, let us not forget, has been developing a revolutionary boiler (where is Neil Woodford?) since it listed via an RTO on the Casino way back in 2013 – after it was rescued from administration. The original company dates from 2010. So how are we doing in 2018?

Haydale: PMDRs selling out, take note!

Published 204 days ago

I have been calling AIM-listed Haydale lower from 78p last June, in the wake of a nasty profit warning. Since then we have had two more, and even the company’s paid-for ramper research company Hardman admits the company needs more cash but Haydale sat on its hands instead of biting the bullet until raising a pitiful £250,00 in a placing at 20p shortly before Christmas and kicked the can down the road with a further £750,000 loan (at 11% interest).

The ShareProphets share tips of the year 2019 – No 8 is from Nigel Somerville

Published 204 days ago

Between Christmas Day and January 2nd we shall be publishing more than 20 share tips of the year – buys and sells. Eighth up is the second one from Nigel Somerville, the deputy Sheriff of AIM.

Gamfook in NEX-China flotation: Red Flag central, keep well away!

Published 204 days ago

I didn’t know whether to laugh or to cry at the flotation of Gamfook (GAMF) on the NEX lobster pot on Christmas Eve. Was it an elaborate April Fool, carried out in December to fool us all? I’ve no idea. But the Red Flags are everywhere to see. For starters, it is a Chinese jewellery play with one of its main outposts to be found in Fujian Province (which, I gather, is called Fooking in another Chinese dialect). And the Broker is that fine house of AIM-China frauds, Daniel Stewart – the former Nomad and former resident of the AIM Casino. What’s not to like?

Tern – new 5 year contract for DA (well done) but….

Published 205 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) has announced that its principal investee, Device Authority (DA) has landed a contract. Hooray! But it is only worth $80,000 in the first year and I expect Tern to announce further funding for DA in short order.

The ShareProphets share tips of the year 2019 – No 4 is from Nigel Somerville

Published 206 days ago

Between Christmas Day and January 2nd we shall be publishing more than 20 share tips of the year – buys and sells. Fourth up is one from Nigel Somerville, the deputy Sheriff of AIM.

Frontera Resources: The biggest and most monstrous lie yet is exposed: Game Over

Published 206 days ago

Last weekend we served up two stashes of documents HERE and HERE which made it clear that on a serial basis Frontera Resources (FRR) had either not informed its Nomad Cairn and the wider AIM Casino market of pertinent news or had, in some cases, simply lied to one and all. On Christmas Eve at 7.30 AIM Cairn quit as Nomad and the shares were suspended. That prompted the biggest lie of all.

First Derivatives – now tell us about Kx and Shakti: does this make your $53.8m ( which you don't have) a pure spunk?

Published 208 days ago

Given that its IPO prospectus was fraudulent and how its earnings have been materially overstated in recent years as demonstrated here, only the sort of moron who would back the fraud Globo to the hilt would still be owning shares in First Derivatives (FDP). They are an outstanding short at 2125p. But now lets look at kX and something that might just blow up First early in the new year.

Frontera – Nomad quits, shares suspended, it is game over morons & ouzo time for me

Published 208 days ago

I have spent all weekend being abused on twitter by morons who own shares in Frontera Resources (FRR) - notably @keithcareth, check his feed he is insane -  who insisted that I did not know what I was talking about, that the FCA was after me, etc etc etc. I await an apology as today – as was inevitable after our weekend revelations HERE and HERE – the Nomad, Cairn, has quit. The shares are suspended and here is why it is game over.

Woodford Dog RM2 – wins VAT reprieve but no cash impact (so why bother with an RNS?)

Published 208 days ago

AIM-listed and permanently on the edge of insolvency RM2 (RM2) has announced some good news. Well, sort of: the executioner is still booked, but at least the taxman is off its back.

Woodford – did the FCA or the bank prevent him from fully standing his corner with Kier?

Published 208 days ago

A spot of maths and it seems that we were all wrong! In the prospectus for the rights issue by Kier Group (KIE) we were told that Neil Woodford was sitting on 13,797,000 shares, or 14.13%. We were also told that if he took up his rights in full he would hold 22,903,020 shares, or 14.13%. We know that Woodford piled in for more shares after the rights offer was announced. So what did he end up with?

5 Slam-Dunk Sells for 2018 – almost the final reckoning

Published 209 days ago

We are days away from the end of 2018 and so it is time for almost the final reckoning for my portfolio of 5 shares to sell this year. I say almost the final reckoning because Tom Winnifrith’s Winnileaks has been receiving a few things which suggest that AIM-listed Frontera Resources (FRR) may well be facing its final reckoning extremely soon – ouzo at the ready, then!

Frontera - another court case lost: we post filings

Published 209 days ago

This case relates to the Outrider dispute. It is not in itself massive othern than showing that when Frontera (FRR) blusters in RNS about its confidence you should know it is bluster. This particular episode should have been an easy one for Frontera but while racking up its costs it fecked up on its paperwork and thus lost. Poltroons. The Court filing is below.

The Frontera Resources emails that reveal so much and its all bad

Published 209 days ago

The following trove of emails were filed by Frontera Resources (FRR) in the case against Outrider which could well bring it down. But the emails themselves are quite stunning as you can see below, demonstrating that this company is uninvestable.

Frontera Resources Court Filing - hung in its own words: we publish damning court papers

Published 210 days ago

 The court filing below hangs Frontera (FRR) in its own words. It makes it clear that it is in default on the Outrider loans so is likely to lose all its assets. It also lays bare its failure to secure external funding throughout the past nine months and its now utterly parlous financial state. The shares should be suspended first thing Monday. If not they will utterly collapse. If you have ignored my repeated warnings and can sell Monday do so at any price. And this document may trigger another FCA investigation.

Red Flags at Night: Vast Resources - having said it would avoid death spiral finance……

Published 210 days ago

Oh dear! Previous boss of AIM-listed Vast Resource (VAST) Roy Pitchford had an unhappy time with death spiral finance facilities with Crede and Bracknor and now, despite the company having said it would avoid death spiral finance facilities in future, has announced – under Brian Moritz – a “bridge facility” which is….a death spiral, this time with Bergen. It is interest free, naturally – if you ignore the fees – but critically, this time the facility is not convertible for 30 days. After that…..well, we know what death spirals do to share prices.

Winnileaks: Breaking - Frontera Resources under FCA investigation for misleading investors

Published 211 days ago

The Winnileaks service has been provided with an email sent by an investor which confirms that investigations are underway into whether Frontera Resources (FRR) has mislead investors. Facing two big court cases, out of cash, drowning in debt and burning cash could this be the final straw?  It goes without saying that the shares are a sell. the email is below:

Haydale – well ho ho ho, time for an ouzo!

Published 211 days ago

And so, at long last, AIM-listed graphene play Haydale (HAYD) has raised some money. With the shares closing at 25.5p last night, it raised just £250,000 in a placing at 20p (a 21.5% discount) and £750,000 by way of a loan from the Development Bank of Wales at 11%. Oh, and we have a new finance director (did he jump or was he pushed), the former CEO (who stepped down on the profit warning back in June) is off (did he jump or was he pushed too?) and so is a NED. 

Pantheon Resources - throwing good money after bad

Published 211 days ago

As ever, the City's top oil analyst, Zac "the Knife" Phillips of SP Angel is bang on the money with his comments on today's news of a $16 million fund raise at a minimum of 15.25p by perennial uber dog Pantheon Resources (PANR). The great man writes:

ShareProphets RNS Translation Service: Yu Group ‘fesses up (again) as shares collapse another 22%

Published 212 days ago

And so at last we have the results of the forensic accounting review which followed the confession from AIM-listed Yu Group (YU.) on 24 October 2018 that its accounts were, in effect, a work of sheer fiction and has seen the company’s £12 million placing at £10 per share being investigated by the FCA. We already knew that the bill would be around £10 million – but now it is going to be around £13 million. As ever, the ShareProphets  RNS Translation Service is on hand to help us understand all this (original in bold).

Red Flags at Night: The People’s Operator announced resignation of FinnCrap as Nomad at 5.40pm. It’s curtains….

Published 212 days ago

Just when you thought it was dead, wrote Gary Newman on 5 December 2018. Clearly some people were on the pitch – they think its all over. Well, it is now! Last night at 5.40pm AIM-listed The People’s Operator (TPOP) announced the resignation of FinnCrap as its Nomad. That should have given this POS a month to find a new one, but since it has been suspended since failing to produce its FY17 accounts, it will be booted off the Casino on January 3rd.

Neil Woodford’s disaster of the day No 2 – Midatech Pharma

Published 212 days ago

In this case the turd has been sugared, the pill polished but make no mistake, Midatech Pharma (MTPH) is well in the merde and that is bad news for Britain’s most conceited fund manager Neil Woodford whose funds own 20% of the equity.

Neil Woodford’s disaster of the day No 1 – Netscientific

Published 212 days ago

There were two enormous red flags waving at NetScientific (NSCI), the healthcare IP commercialisation group. The first was the announcement a few weeks ago of a “strategic review” which in plain English means “we are fucked” and the second was that Britain’s worst performing fund manager Neil “Nomates” Woodford owns 47% of the company with the funds he used to manage round at Invesco owning another 19%. And so to today’s disastrous news.

F*CK YU – now the FCA investigates as suspicions of securities fraud mounts

Published 213 days ago

On Monday I wondered out loud what was happening about the forensic investigation into various accounting matters – including accrued income recognition and impairment of trade debtors at Yu Group (YU.). Then there was the small matter of a £12 million placing on the back of FY17 accounts which now appear to be somewhat questionable. Well blow me down with a feather: now the FCA has notified the company that it intends to conduct an investigation and the shares (which I called a bargepole of the highest order on the initial ‘fessing up of 24th October) have now fallen below half of the IPO price of March 2016.

How London’s worst Nomad Roland Fatty Cornish made £400k+ last year but are his firm’s accounts pure fiction?

Published 213 days ago

Hat tip to a reader in the Grim North for pointing out the latest work of fiction from London’s worst Nomad, the disgraced Roland “Fatty” Cornish, that is to say calendar 2017 accounts from his firm Beaumont Cornish Limited.

As UK Oil & Gas shares plunge to 1.225p – it's time for another Lyin’ Steve Sanderson caption Contest

Published 213 days ago

Of course the stock is still hugely overvalued. But as they have plunged from 2p in just a few weeks, for some reason, Big Dave Lenigas has stopped pumping out twenty tweets a day about how cheap the shares are.  Meanwhile the Bulletin Board Morons who lined up to abuse and smear myself and folks like Waseem Shakoor, who warned them, have been lining up to apologise. Not! And thus we have another pic of UK Oil & Gas (UKOG) boss Lyin’ Steve Sanderson in action destroying shareholder value for you to consider ….

Red Flags at Night – IGAS misses Bowland shale in latest drill

Published 214 days ago

It is some time since I offered any comment on AIM-listed Igas (IGAS), following the near-demise of the shares long-predicted in these parts. But last night Igas drew attention to itself by offering up an Operational Update well after hours, at 5.43pm. Talk about no-one-is-watching o’clock! You just know it wasn’t good news…..and it wasn’t!

VINDICATION: Telit – FCA enquiry widened, implication is of wholesale securities fraud re 2017 placing

Published 214 days ago

The fraud that is Telit (TCM) continues to unravel. We already knew that ex FD and CEO Yosi fait was being investigated for selling all his shares in early July 2017 while he was aware of damaging price sensitive information ( a profits warning) – that would be insider dealing. We know that founder, former CEO and the man who is still running Telit via puppet directors, Uzi Katz, is being investigated for not admitting that he was a fraudster and fugitive from justice.  Now it gets bigger.

Filthy Forty Red Flags at Night – China New Energy quacks away and to waddle from AIM?

Published 214 days ago

Last Night at 4.39pm – after hours at no-one-is-watching o’clock, ShareProphets AIM-China Filthy Forty member (one of just seven remaining) China New Energy (CNEL) issued a Trading Update. Except the meat of the dish was not about the company’s trading, it was about trading in its shares. We are told the Company is currently considering and assessing all the options available for fund raising in other stock exchanges. Aha - it is voluntary execution ahoy!

YU – all silent in run up to Christmas (so far….)

Published 215 days ago

Back on 24th October, AIM-listed Yu Group (YU.) issued a devastating RNS regarding accrued income recognition, impairments of trade debtors and the shares collapsed 80%. Then on 5th November the company announced that it had appointed PWC and DLA Piper to carry out independent forensic investigations and promised to update the market in due course. So how about that update?

Sosandar – read-across from calamitous ASOS warning? Nothing to see here…..

Published 215 days ago

This morning AIM-listed ASOS (ASC) offered up a disastrous Trading Update noting a significant deterioration during November, that conditions remain challenging and that it was revising downwards sales growth to c. 15% (previously 20-25%), retail gross margins by -150bps (previously flat at 49.9%) and EBIT margin to 2% (previously 4%). Ouch, ouch and triple ouch. Asos saw its shares decline by a whopping 38% in early trading. So what about fledgling minnow, AIM-listed Sosandar (SOS)?

Boxhill Technologies – Time for update about Emex given the CV of doom of chairman Lord Razzall

Published 216 days ago

On 1 November 2018, suspended on the AIM Casino Boxhill Technologies (BOX) provided its last trading update which provided the following comment on the disposed business of Emex:

Breaking: Frontera due in court Tuesday, could be game over for shareholders by Wednesday

Published 216 days ago

This is so simple that even Justin the Clown or a shareholder in Frontera Resources (FRR) can understand it. Frontera is due in court on Tuesday with 1/2 day court time allocated. If it loses it will be bankrupted.

Haydale – Wheelsure nonsense!

Published 217 days ago

We all know that AIM-listed Haydale needs to raise money, and we have had all forms of pumping to support it in the form of RNS Reaches and paid-for broker notes. Now we see reannounced old news from NEX-listed Wheelsure (WHLP) regarding the joint venture with Haydale and the University of Manchester which Haydale announced on 27 November (and Wheelsure announced on the 26th)! Even Haydale didn’t even bother with an RNS Reach, although an announcement went out via Alliance News: never miss the opportunity to re-inform! But this does beg one or two questions.

Reneuron – jam tomorrow for Neil Woodford, or just in a jam tomorrow?

Published 217 days ago

AIM-listed Neil Woodford investee Renueron (RENE) posted its interims to the end of September this morning. As with many of Neil Woodford’s investment choices, this is another cash-burning operation but it does have the advantage of some interesting technology. The question, of course, is cash!

John Meyer of SP Angel is shameless with his BlueJay ramping c/o Justin the Clown. Shocking.

Published 218 days ago

John Meyer of disgraced Nomad of MySquar (FRAUD) infamy SP Angel really is a very naughty boy. The scallywag was in action once again on the Justin the Clown podcast at Vox Markets, as you can witness below.  To save your suffering fast forward to 20 minutes and 40 seconds when the analyst appears. His crimes are numerous. First up..

Andalas – why the hell has it not made an announcement about its Eagle Investment?

Published 224 days ago

I have given Andalas (ADL) a week to fess up to what looks like bad news but there has been no RNS. And so though my patience is legendary and I am trying my hardest to be a nice guy, enough is enough. I know this is the AIM casino and Rules, like 10 and 11, do not really matter but surely there are some limits.

MySquar – the scale of the fraud gets worse but is there hope for shareholders? Er…

Published 224 days ago

I have a small bottle of ouzo ready for Monday at 7 AM GMT when shares in the fraud MySquar (MYSQ) will be thrown off the AIM Casino as no Nomad is prepared to replace disgraced SP Angel which quit a month ago.  But the news today gets even worse.

Thursday’s Disaster for Neil Woodford – would you Adam and Eve it?

Published 225 days ago

After spunking millions backing companies wanting to change the laws of physics or disrupt the markets for wooden pallets, washing machines and drinking water a chance to revolutionise the world of mattresses was just too good to pass up on for Neil Woodford. So he backed the May 2017 IPO of Eve Sleep (EVE) at 100p heavily and as the share price sank he added to his holding taking it to 29.05%. Neil always knows better than the market….

KERBOOM - Winnileaks serves proof of investigation into Julie Meyer

Published 226 days ago

We knew that the Administrator of Ariadne Capital, the flagship company of Julie "lingerie on expenses" Meyer had passed a file to The Insolvency Service. I assumed that it would do nothing but au contraire it has launched an official investigation into Julie Meyer MBE herself. This could well lead to her being disqualified as a director. The proof of that investigation comes c/o Winnileaks below. The only question is whether any other agency is running an investigation into Meyer...

Numis statement shows why FinnCap’s IPO today is such a stinker

Published 227 days ago

FinnCrap (FCAP) has today listed on AIM having raised £3.75 million of new monies while insiders dumped £1.25 million of shares on mug punters. Unfortuanately for smug Sam Smith and the FinnCrap team a statement on current trading from Numis (NUM) shows just why FinnCrap rushed to get its own IPO away and why it should be avoided like the plague.

Neil Woodford Caption Contest: Three Disasters in three days edition

Published 227 days ago

Of course they are not disasters for uber smug Neil Woodford. He earned £7 million last year. But for those dumb enough to entrust him with their money it has been another bad few days. On Friday it was Kier. Yesterday it was Halosource. Today it was Amo Pharma. So to win a semi naked photo of Britain's top share blogger (mornings only), Thirsty Paul Scott please supply a suitable caption in the comments section for the photo below of the great fund manager creating value. The deadline for entries is midnight Wednesday, 5 December.

Tuesday’s disaster for Neil Woodford – Amo Pharma accounts out (late) – Woody on the hook for £6m more?

Published 228 days ago

In October 2016 Neil Woodford’s Patient Capital Trust (WPCT) spunked £12.281 million with an investment into unquoted cash guzzler Amo Pharma. Amo has belatedly filed its calendar 2017 accounts and it looks grim. Suffice to say Britain’s most conceited fund manager is the sole institutional backer.

Imaginatik – another placing and a contract, but one to watch?

Published 228 days ago

AIM-listed former Rob Terry favouorite busted flush Imaginatik (IMTK) yesterday announced another placing, following hard on the heels of the last bailout and oversubscribed open offer of last month. I was very critical of the previous fundraise because is still, as far as I could see, left the company on the edge of insolvency. But with anther £250,000 in the kitty – and a contract also announced yesterday, is it time to change my stance of keep well away?

…and Monday’s Woodford disaster story…..Halosource

Published 228 days ago

According to Cynical Bear, Neil Woodford’s Woodford Investment Management once held 24.9% of Halosource (HAL), when the shares were around 3.63p - and Invesco Perpetual (Woodford’s former stamping ground) held a further c.19%. Of course, failure after failure and emergency bailout placing after emergency bailout placing will have taken their toll. But even back in August Woodford held 27.3% (having bailed it out yet again). Now the company has warned that it is having a spot of bother raising cash – and that no cash by the end of December will mean a trip to the corporate undertakers. So Neil isn’t up for bailing it out this time?

Minoan - £525k placing, and £250k of liabilities settled at 2.5p. Call me mad, but....

Published 229 days ago

Well, we all knew that AIM-listed Minoan (MIN) was going to place as it told us so when the sale of the travel and leisure division was announced. The issue price of 2.5p is disappointing in the wake of the share price when the T&L sale was announced, but does not look so bad in the context of a share price on its knees at around 2.25p early last week. Be thankful for small mercies, then.

Ariana – should we be cynical? I think not…

Published 231 days ago

AIM-listed Turkish gold producer Ariana (AAU) has seen its share price move a fair bit over the past few days. The shares have been bumping along the bottom at around 1.25p for a while and even dropped to almost 1.1p last month. Now, with a very positive update from its Kiziltepe plant at the Red Rabbit project in Eastern Turkey (and terrific looking financials), a positive (house) Broker note, exploration news and an investor evening in the last few days, the shares are up at a much healthier-looking (roughly) 1.425p, if a tad volatile (they’ve been up to 1.525p and down to 1.375p today). So should we be cynical and expect a placing?

Mayan Energy - appointing a new NED is not enough it's a chocolate teapot - sackings needed: top analyst

Published 232 days ago

I do not see any upsides in appointing Sarah Cope (nee Wharry) as a NED at Mayan Energy (MYN). She is just another City Nomad crony capitalist and not one that I'd rate that highly. But I suppose it's diversity so praise the Lord. Let's all be diverse. Top oil analyst Zac Phillips of SP Angel is kinder than I am about Mrs Cope but still thinks her appointment is like a chocolate teapot. He opines:

Haydale – ANOTHER RNS Reach!! Pre bailout placing ramp in full swing!

Published 232 days ago

AIM-listed purveyor of all things graphene, Haydale (HAYD) has been on an RNS Reach-fest, the latest of which came this morning. Of course, RNS Reach announcement are by definition immaterial and are best viewed as free advertising. But the market has bought into the ramp and the shares are markedly up on the 12p low point they reached when it emerged – along with proft warning No. 3 in six months – that Haydale had been unable to raise loan finance it had planned to. The stock is now up at 36.5p – still a long way down from the 78p at which I wrote about the company last June.

Xeros Technology – Cynical Bear was right about this Neil Woodford Dog!

Published 235 days ago

Another day, another Woodford disaster story hits the headlines – this time in the form of AIM-listed Xeros Technology (XSG), which Cynical Bear had postulated would be this year’s RM2 disaster. Well, it’s run out of money again and guess who’s footing the bill (with other people’s money)?

Frontera – workover news but the only thing it really wants to pump is the share price as the cash crisis deepens

Published 236 days ago

Frontera Resources (FRR) is, as you know, completely out of cash, drowning in debt and facing two pieces of litigation either of which could see it lose all its assets, D-day in one case could be within a week. In such a bleak position there is only one thing to do: Issue a spurious release and then get the whore blogger Malcolm Graham Wood to pump the shares to try to get a bucket shop discounted placing away. But surely shareholders in this company are not that stupid? Er....

The mystery of the Audioboom Dog that barked – SMTM mothers!

Published 236 days ago

Following a week of intense share price weakness, Audioboom (BOOM) has served up, what looks like, a panicked trading statement. It is long on blather but fails to mention the one thing that really matters: the looming cash crisis. This company could be out of money and insolvent by Christmas, indeed sooner, but free speech denying, family on the payroll poltroon of a CEO Rob Proctor fails to address that elephant in the room. I suppose that there is some good news.

Five slam-dunk sells for 2018 – November update and change of stance on one share

Published 238 days ago

My little portfolio of shares to dump for this year has shown some surprising resilience through the year. Of course it has always been down but some of the shares seem to be propped up in the same way a cartoon characted runs off the edge of a cliff but doesn’t fall until he looks down. But I suspect the wheels may be about to come off in some cases before year-end, and in one case imminently.

Tern – attempts to calm with Portfolio Update…..shares down 8% and here's why

Published 240 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) has seen its share price slipping sharply since they peaked in mid-June at 58p. What better way to reassure the market than with a Portfolio Update? That’ll help….or not: the shares are 10% down today, at just 13.5p. I’m sure the placees at 26p in July will be delighted….

Laurel & Hardy Oil & Gas - Zac plunges in his bloodied knife & calls on shareholders to sack the board

Published 240 days ago

The City's No 1 Oil analyst, Zac "the knife" Phillips of SP Angel spares no-one, except corporate clients like Mosman (MSMN) when he is ordered by evil John Meyer to write shite or get the sack. Luckily Hardy Oil & Gas (HDY) is not a corporate and thus The Knife is at his poisonous best. He opines... 

Filthy Forty Walcom – profit warning, defaulting customer still not paying, discussions with lender. Uh-oh…..

Published 240 days ago

Yesterday ShareProphets AIM-China Filthy Forty member (one of only 7 remaining) Walcom (WALG) updated the market on its efforts to get its largest customer to pay its bills. Bad news there, as was the accompanying profit warning, repayments of borrowings, discussions with lender and the final coup de grace: ….the Company may be in a position where it is unable to settle its liabilities as and when they fall due. What’s not to like!

Angus Energy – the liar in the ointment: Jonathan Tidswell-Pretorius

Published 241 days ago

Angus Energy (ANGS) shares may or may not be cheap on fundamentals. That debate is for another day.  But weighing down on this company is one almighty issue of corporate governance: the lies its founder Jonathan Tidswell-Pretorius told about his dealings with loan provider America 2030 in June 2018 and the cover-up that continues to this day.

PhotonStar LED = PhotonStop RIP

Published 241 days ago

Well you can’t say you were not warned! As both Steve Moore and Tom Winnifrith are drinking from the bottle of ouzo supplied by the Global Shorting Conspiracy it falls to me, on behalf of ShareProphets, to say told ya! (I’ll have my little cupful later). It was announced by AIM-listed PhotonStar LED (PSL) a few minutes ago that its wholly-owned subsidiary PhotonStar LED Limited was placed into liquidation. With the remaining business yet to sign a material contract and needing funding, this really is toast.

TrakM8 – is it in breach of banking covenants yet? Methinks yes! What is HSBC demanding?

Published 242 days ago

TrakM8 (TRAK) served up dismal interims late last week but as I warned then, things could get an awful lot worse. It all depends on how much the bankers at HSBC and panicking and what they are doing about it. TrakM8 needs to fess up to investors and make a statement.

Haydale – another RNS Reach, no numbers. Desperate stuff

Published 242 days ago

AIM-listed and almost out of cash Haydale (HAYD) has issued yet another RNS Reach, this time to tell us that it has signed an exclusive deal with TKS Siampress Management for an anti-counterfeiting product. Whoopie doo – but there are, predictably, no numbers offered. And an RNS Reach is for news which is, effectively, not material.

Imaginatik – H1 results show what a dog’s breakfast it was, but fundraising to complete still leaves it technically insolvent. Shocking.

Published 242 days ago

AIM-listed former Rob Terry favourite Imaginatek (IMTK) published its half year results to the end of September this morning – what a dog’s breakfast! Of course, the majority of the period was under the old management so as much as I would like to point the finger at new CEO Angus Forrest, that would be grossly unfair. Indeed, judging by the balance sheet he’s done very well to have kept the grim reaper at bay – and he nearly pulled off a dream proposal to bring the very saintly Vin Murria in….but that fell apart. The shares as I write are up just 10% at 1.375p in the middle, having peaked earlier in the day at 2.25p in an initial burst of enthusiasm. It looks to me like the market has taken fright at the balance sheet.

Sound Energy: the spinning stops, the plates come crashing down – ouzo time

Published 243 days ago

Do you remember when shares in Sound Energy (SOU) were 80p+ and some commentators thought they would multi-bag from there?  I warned you that this was a stock built on spinning plates and that, one day, reality would cause pain and misery for shareholders. That day is today, the shares are down by 29% at just 17p. But could it get even worse?  You bet it could.

Karelian Diamonds FY18 numbers: on death watch too, very bad read across for Conroy Gold

Published 245 days ago

Yesterday it was the turn of AIM-listed Conroy Gold and Natural Resources (CGNR) to show that it is one tiny little centipede step from insolvency. Today sister company, AIM-listed Karelian Diamonds (KDR) took advantage of a good day to bury bad news and followed suit – and my conclusion is the same. Indeed, for Conroy Gold there is another worry here which could bring its life to an early termination. My view is that both are stand-out sells and here is why...

TrakM8! Timber! Chickens come home to roost big time!

Published 246 days ago

For a while it was going so well for TrakM8 (TRAK). Put out RNS’s saying you had cash when you had debt, record ramptastic interviews with thirsty Paul Scott and get him ramping hard, make really dodgy acquisitions that made no sense, generate no cash and watch the shares go ever higher. Then the Sheriff of AIM started to look underneath the hood and kick the tyres. The shares were 360p back then. They are opening today at just 23p to sell after a truly diabolical set of results and a (lack of) profits warning. If you were at the heart of the rampfest, it would be enough to turn a man to drink.

TomCo – London’s broker of worst repute quits claiming association damages its reputation

Published 246 days ago

SVS Securities did a bailout placing for the fraud MySquar (MYSQ) days before its downfall, knowing full well that the company was a wrong ‘un. That had to be reversed PDQ as it emerged that the ex CEO had half inched almost a million quid..  Suffice to say it will act for almost anyone and its reputation is of being a thoroughly low grade and morally bankrupt operation. So when it quits an account to protect its reputation you know that the company in question is toxic. Welcome to long time uber dog Tomco (TOM)

Conroy Gold – FY results…..balance sheet a shambles, the end is surely nigh: SELL

Published 246 days ago

AIM-listed Conroy Gold and Natural Resources (CGNR) offered up its FY results to May y31 esterday morning. There was plenty of blarney, of course, but the bottom line is that the balance sheet is in a mess – it needs yet another mega-placing PDQ to keep the lights on, and I don’t think it will get it away. Oh, and  NED, Dr Karl Keegan, is stepping down after just 15 months in the job. In short, the end appears to be nigh.

A Formal Request to the Financial Reporting Council to investigate First Derivatives

Published 248 days ago

As you may be aware, the accounting watchdog, the Financial Reporting Council (FRC) is a great admirer of the work of The Sheriff of AIM. And always keen to give my good friends a pointer, I have today submitted a formal request to investigate the last three year’s accounts of First Derivatives (FDP).  The issue is whether stated earnings represent the underlying picture. My letter, below, is to the point.

Haydale – paid-for researcher Hardman issues another (suicide) note

Published 249 days ago

As covered here on ShareProphets many times, AIM-listed Haydale (HAYD) is in deep trouble as finally admitted last Friday. I’ve been saying sell all the way down from 78p in June of this year and the shares plunged to just 13.5p on Friday – after the company warned it was short of cash and offered, effectively, yet another profit warning (the third in three months). Last night the shares were 12.25p and Hardman, which ramped the shares after hours in September only to see the shares fall in response the next day, has had another go. It is laughable.

Tom Winnifrith Bonus Bearcast: Excuse the triumphalism but crack out the fecking ouzo - IQE shocker profits alert

Published 249 days ago

Ten miniutes before the close IQE (IQE) issued a shocking profits alert. The shares crashed 29% to 67p. Where will they go tomorrow? Excuse the triumphalism but I have been the biggest IQE bear going and, again, I say to my critics I was fucking well right and you are morons.  All is explained in this bonus podcast. PS If any moaning Taffies bleat on about the content well go feck yourselves and get over it. 

Red Flags at Night: Arricano announces resignation of Smith & Williamson as Nomad after hours on Friday - SELL

Published 251 days ago

In August it was announced that Cenkos was buying the Nomad operations of Smith and Williamson, with completion expected in November after due diligence had been done on Smith & Williamson’s Nomad clients. On Friday, at no-one-is-watching o’clock (natch – 6.09pm!!) AIM-listed Arricano Real Estate (ARO) announced that Smith & Williamson had served notice that it would resign on 23 November 2018. Talk about Red Flags at Night!

MySquar – a complicit Nomad finally walks, ex CEO accused of theft, cash crisis critical – where’s the Fat Lady?

Published 253 days ago

It gets worse and worse for MySquar (MYSQ) a company that I have been openly accusing of fraud for more than a year. On Monday it partially ‘fessed up. Today it got worse.

Accesso - a detailed short thesis: shares should halve from here

Published 253 days ago

I hinted at the short case for Accesso Technology (ACSO) a few weeks ago HERE. What follows is a far, far more detailed proposition as to why this stock is grotesquely overvalued. At 1,880p, the market cap is £512 million...

Has Jug eared virtue signalling prick Gary Lineker got no shame? Backing the Quindell fraudsters AGAIN

Published 253 days ago

As BBC license fee payers, you will be truly delighted to see how the vast pay cheque given to Gary Lineker is being spent. You may remember that the crisp salesman was appointed as brand ambassador to Ingenie, part of the Quindell (QPP) fraud, now under SFO investigation as the UK’s largest stockmarket swindle for 30 years. Lineker was given millions of pounds of free shares in Quindell which he sold onto poor investors who lost almost everything - having said he'd be a buyer. Well it worked before…

Oily slug Piers Pottinger quits the MySquar fraud but it’s too late pal: you are implicated and in my dossier going to the FCA & SFO

Published 254 days ago

Two days after MySquar (MYSQ) suspended its shares on the AIM Casino and admitted to fraud and a cash crisis its odious slug of a chairman, the well known PR spinner Mr Piers Pottinger has quit as a director and from the company. Piers may wish to distance himself from what is a very messy crime scene but it is too late. He was either involved in the fraud or enabled it by his incompetence or his silence or both. He features in a detailed dossier I am preparing for the FCA and SFO urging them to launch a formal enquiry. 

MySquar – and another thing the FCA may wish to look at – remember young pipsqueak Josh Adams

Published 255 days ago

You may remember Joshua Adams? Aged 28 he wrote to me to say that he “prayed for my destruction”. Wind forward five years and, playing with Daddy’’s money, he amassed a stake of 16% in the MySquar (MYSQ) fraud. Now looking at both Companies house and the RNS feed I worry that young Joshua may have been a very naughty boy indeed and I have asked the FCA to investigate him accordingly. But fear not Josh, I am a nice guy and will be praying for your salvation as I kneel at the bedside tonight.

First Derivatives shares surge on interims but 11 points you may wish to consider

Published 255 days ago

As I write, shares in First Derivatives (FDP) the company floated via a fraudulent IPO and which has overstated its earnings by c50% for each of the past three years, are surging. Interims have gone down well and the stock is up 160p ( c5%) at £34.10. But hang on Henry… here are 11 points you may wish to consider before buying

Marcus Stuttard, the world's worst regulator receives evidence of fraud at MySquar caption contest

Published 256 days ago

In October last year I presented thje AIM Regulation team headed by the man who ludicrously allowed himself to be dubbed the Sheriff of AIM, Mr Marcus Stuttard with slam dunk proof of massive fraud at MySquar (MYSQ). He did nothing. MySquar raised millions of pounds AFTER that from issuing shares which after today are now worthless as the fraud is laid bare. Mr Stuttard's failure to act has cost investors millions. And this is not his first lamentable failure. Is he the most useless regulator on this planet? Anyhow, he is pictured below after receiving my proof of fraud at MySquar last October. Please supply a suitable caption by midnight tonight in the comments section below.

King fraudster Rob Terry of Quindell infamy announces plans for £1 billion stockmarket listing

Published 256 days ago

I have got more chance of shagging Cheryl Cole than Rob Terry has of achieving a £1 billion flotation of his latest fraud but let us humour the old criminal and examine his plans for OS3 Digital Limited, formerly Knob Park Estate.

MySquar: admits monies missing, cash almost gone, Schaer doing a runner, placing pulled – shares suspended. Oh what fucking joy!

Published 256 days ago

Oh dear. Oh Dear. I pointed out that MySquar (MYSQ) had lied and committed fraud numerous times – notably with the 31 July 2017 placing – but Nomad SP Angel was happy to turn a blind eye and bank its retainers. Marcus Stuttard and the keystone cops at AIM Regulation were given specific warnings but did nothing. Now the whole thing has blown up so who looks like a frigging clown now Marcus? Is it Tom Winnifrith, the real Sheriff of AIM, or Marcus Stuttard, a man who is meant to regulate but instead turns a blind eye to blatant fraud, a useless not fit for purpose fucking poltroon?

After the MySquar triumph: Still not signed up to quality investigative fraud busting journalism at 2p a pop. Why not?

Published 257 days ago

Just over a year ago ShareProphets went from an advertising model (i.e. letting evil Google bleed us dry) to a subscription based one. That means we can write what we want and thanks to well over a thousand of you, our revenues have gone up and we did, actually, make a tiny, debut, profit last month. Hooray! But perhaps you are reading this article sitting outside all walls and have not signed up for full access at just £5.99 a month HERE. Just think what you are missing…

AIM is dying: 10% annual attrition rate well in sight

Published 258 days ago

The London Stock Exchange has just published its October 2018 AIM Statistics bulletin and the figures are again shocking. AIM is down from 942 members last month to just 928 now – and with Northland set to lose its Nomad license in a few days’ time that number is going to fall further as yet more companies have to search out a new Nomad that might not want them on their books.

Does Safran know that its employees threaten journalists? Ref Antonio Mateos and Berkeley Energia

Published 259 days ago

I am contacted on twitter, as you can see below, by a man claiming to live in Spain who opposes Berkeley Energia (BKY) and its plans to create thousands of jobs at Salamanca. I do not wish to deny the poor the dignity of work this chap does. Follow the thread for it ends with a clear threat - I should stay away from the project...

Spoof No 1 exposed so what about spoof No 2 from almost bankrupt Frontera?

Published 260 days ago

You will no doubt remember that as well as facing two legal cases either of which could strip it of all of its assets (having caved on a third) Frontera Resources (FRR) is completely out of cash, burning cash and drowning in debt and thus is trying to ramp its shares however it can to get a bailout rescue placing away. So welcome to the tale of two spoofs orchestrated by disgraced dirty tricks PR specialist Tim Thompson of morally bankrupt & intellectually challenged fucktards Yellow Jersey and egged on by the whore blogger Malcolm “fat bastard” Graham Wood.

When related parties are dumping shares at a 75% loss in 4 months you know you should panic – ref MySquar

Published 260 days ago

On 23rd October as oily and unpleasant PR man Piers Pottinger, now the face of the fraud MySquar (MYSQ) as its chairman oozed up to do a paid for share pump interview with Proactive it was announced that Mypay Limited, a related party thanks to links to the criminal family of ex CEO Erik Schaer, had sold shares so it no longer had a notifiable interest. A week later the company did a bailout placing at just 0.35p. It gets worse.

GYG – the Woodford reverse Midas touch strikes again: banks must be shitting themselves

Published 261 days ago

Oh dear. When Neil Woodford spunked £8 million of other folks cash into the July 2017 100p a pop AIM casino IPO of yacht refitting company GYG (GYG) he thought this would be plain sailing. Oh no. Au contraire. The reverse Midas touch has struck Britain’s most arrogant fund mis-manager withy the second (lack of) profits warning in two months. Now I suggest the banks must be shitting themselves, the shares are 42.5p, sinking like the Titanic, as friendless as the Marie Celeste, and things are only going to get worse.

FastJet – is that the Fat Lady I see over there? Almost game over..

Published 261 days ago

FastJet (FJET) the airline set up by tobacco smugglers which, having gone legit, has a perennially failing business model and ability to burn vast amounts of cash had said that it needed more cash by the end of October to keep going. Aha, its October 31, I wish all ,my readers on the Isle of Man happy Hop-tu-naa, and so what’s the story back at FastJet? It is not good news I fear…

Tern – another £1.1 million to FundamentalVR…..when’s the next placing?

Published 262 days ago

Having previously calculated that AIM-listed Tern plc (TERN) will be out of cash by next June – even taking the £2.9 million placing at 26p in July into account, now the investment company has splurged another £1.1 million on its latest investment, FundamentalVR. Will Tern even make the current year-end before running out of cash?

The fraud MySquar gets bailout placing away at just 0.35p – the end is nigh

Published 262 days ago

Back in July 2017 MySquar (MYSQ) misled investors massively about its current trading and thus committed blatant securities fraud in raising £1.2 million  at 3.75p. It stated then that it “does not expect to require additional funds for current operations.” That was a lie. Since then it has raised millions via death spiral funding but with liquidity drying up and the share price tanking it has now raised just £600,000 gross at a pathetic 0.35p. Ouch. It gets worse.

The UK Audit industry is in crisis – time for the FRC to act

Published 265 days ago

Many years ago the appearance of the company’s auditors on site would send shock-waves through the work-force. Everyone would do absolutely everything by the book and mind their Ps and Qs – and breathe a sigh of relief when the bean-counters departed the scene, according to my late mum who spent a youthful period out of school working for Guinnesses in Dublin.   

Five Slam-dunk sells for 2018 – October update

Published 265 days ago

And so another month has slipped by and it is time for another update on my five to sell – or just steer a very wide berth around. Last month the average loss amongst AIM-listed Telit (TCM), Inspirit (INSP), Catanae (CTEA, formerly Milestone Group, MSG), Frontera Resources (FRR) and UK Oil and Gas (UKOG) was sitting at 17.4%. But we’ve had a bit of a sell-off……

Imaginatik – new Nomad (well done!), placing at just 1.1p, death spiral and open offer

Published 266 days ago

AIM-listed Imaginatik (IMTK) has beaten the odds and signed up a new Nomad to replace FinnCap which slipped out of the back door a month ago. Good news – and on deadline day too. And so WH Ireland steps up to the plate. We also learnt that the company got a placing away – at just 1.1p, plans an Open Offer and has signed up for a death spiral toboot. Great stuff – but I won’t be interested for now and here is why.

Britain’s most loathed businessman Sir Philip Green accused of #Metoo Sexual harassment, racism, bullying & gagging victims and the press

Published 267 days ago

The Daily Telegraph has been on this story for eight months but Britain’s most loathed businessmen has used his vast wealth to take out legal injunctions stopping the press from publishing details. However that has been blown apart by Lord Peter Hain of sleaze using Parliamentary Privilege  to name Green and Hain’s comments can now be reported. The scumbag former Labour minister has for once in his life done the decent thing and told the House of Lords today:

Patisserie Holdings – winding up petition thrown out, but…..

Published 268 days ago

A marginally less bad day today for AIM-listed Patisserie Holdings (CAKE), owners of Patisserie Valerie in that there was good news in with the bad as announced just before 9am this morning. The good news is that a winding up petition against its main trading subsidiary, Stonebeach Ltd, has been thrown out. Good news: no trip to the insolvency shop, then. As for the bad news, it is a relatively small matter but perhaps tells us what may have been going on.

MySquar – update on the fraud case Disgraced Nomad SP Angel thinks you had no right to know about

Published 268 days ago

The founder, until two weeks ago CEO,and sole plate spinner for the fraud MySquar (MYSQ) was Eric Schaer. We know that MySquar lied repeatedly to its mug investors and committed securities fraud so the fact that Schaer stands accused of another $8.5 million fraud is something disgraced ninth rate Nomad SP Angel should have advised us about via RNS. Natch it turned a blind eye. So how’s the case going and why does it matter to the poltroons who still own this stock.

Conroy Gold – “New Gold Outcrop Discovery”: more about getting the next placing away than shareholder value?

Published 270 days ago

AIM-listed Conroy Gold and Natural Resources (CGNR) has announced a new gold outcrop discovery in Ireland, between its Clontibret gold deposit and the Corcaskea gold target. So will this discovery transform the company’s prospects, or – bearing in mind that it has to report year-end results to May of this year by the end of next month – does this news mark the beginning of a pre-placing ramp?

Tom Winnifrith Bonus Bearcast - PWC fined £7m over Redcentric but why let the real criminals escape? are we serious about tackling fraud?

Published 271 days ago

The Sunday Times has been leaked news that the FRC is fining PWC and 2 audit partners over the Redcentric (RCN) scandal which we covered and, indeed, helped to expose as you can see HERE. But the real villains are not the bean counters. I name who they are and ask if the UK is really serious about tackling white collar crime? I suggest that it is not and have a few suggestions to change that.

Frontera’s Zaza is Chamberlain not Churchill – caves to death spiral provider Yorkville – share blizzard ahoy

Published 273 days ago

We shall fight on the beaches, we shall fight on the landing grounds, we shall fight in the fields and in the streets, we shall fight them in the law courts. So said Zaza Churchill of Frontera Resources (FRR) last month after his company defaulted on an agreement with death spiral provider Yorkville, failed to hand over shares, lied via RNS and ended up with a legal dispute. Oh well, it turns out that Zaza is not Churchill but Chamberlain after all. And it is not just one little piece of paper that is on the way but billions more pieces of confetti, worthless share certificates.

BREAKING: First Derivatives - will "interesting" sales tactics be revealed in a US court?

Published 274 days ago

Anyone still owning shares in First Derivatives (FDP) after our string of revelations culminating in today's uber-aggressive mega-earnings flattering accounting policies HERE, is bonkers. Well it never rains but it pours...

Imaginatik – update on trading and Nomad: rock or hard place?

Published 274 days ago

AIM-listed Vin Murria-reject and currently suspended (it hasn’t got a Nomad) Imaginatik (IMTK) has updated the market this morning on how things are going as it searches for a new Nomad and a new business.

First Derivatives - are its reported earnings real? After 20 years is KPMG sure?

Published 274 days ago

A few days ago I showed hard evidence that the 2002 IPO of First Derivatives (FDP) was based on false earnings. That was dismissed by supporters as being so long ago that it did not matter. It does! But how about we move to the issue of whether reported earnings in the past three years are "real" or cooked up. I suggest it may well be the latter in which case the stock is going to tank at some stage, soon, when investors realise this. Let me explain...

Is Neil Woodford running short of cash?

Published 275 days ago

Having noted that Neil Woodford has been dumping shares in our Big Short BCA Marketplace (BCA), I see that the sell-off appears to be rather more widespread. One wonders if Tom Winnifrith’s comments that after a market crash investors tend to sell up is coming true already, or is there another explanation?

CEO of Fishing Republic lasts minus 1 days before company goes bust is that a record?

Published 276 days ago

On 27th September the joke company Fishing Republic (FISH) announced that it was “pleased to announce the appointment of Daniel Quinn to the Board as its new Chief Executive Officer, with effect from 17 October 2018.” Today, 16th October the company fessed up that it was bust. No need to clear your desk Danny Boy, in fact no need to buy cakes for the staff on your first day at work tomorrow. At least your CV won't need much touching up. Is this a record: Minus 1 days from appointment to an AIM tits up?

Crack out the ouzo Fishing Republic goes tits up

Published 276 days ago

Just when The Sheriff thought the coast was clear to jump on a train to the big smoke, AIM-listed (pro tem, at any rate) Fishing Republic (FISH) saw its shares suspended by AIM at 1.20pm pending an announcement. Uh-oh! But it gets worse and I fancy The Sheriff is set to enjoy an extra ouzo tonight after taking Dominic Frisby, Premaitha and Falanx apart.

The fund manager who defended the Globo fraud to the end weighs in to bat for First Derivatives

Published 276 days ago

We pointed out numerous red flags at Globo (GBO) for two years before finally sinking the fraud by publishing Gabriel Grego’s dynamite dossier but some folks knew better. In the fund management community the fraud’s biggest supporter was Harry Nimmo of Standard Life whose fund (other folks cash) were on the register to the bitter end. Harry was a true Globo believer. Now he has weighed into bat for First Derivatives (FDP) which has also, arguably, committed fraud as we revealed HERE.

Frontera clarifies that it could be a zero but the stupidest investors on planet earth somehow see this as good news

Published 277 days ago

Frontera Resources (FRR) has been forced to issue a clarification statement about the Cayman Islands legal case that could see it lose all its assets and go to zero. I suspect AIM is forcing its hand here, concerned that the stupidest shareholder list on this planet are just not getting the message.

Haydale – gets a grant, shares race ahead 21%. A good opportunity to get out!

Published 279 days ago

AIM-listed Haydale (HAYD) has announced that it has got a grant of £120,000 from a package worth £249,600 and the shares have raced ahead by 21% to 32p. Of course, the RNS announcing the funding was an RNS reach and therefore does not affect the dire financial position of the company, which I fear may be doomed. Shareholders would be well advised to look skywards in gratitude and view the rise as a welcome opportunity to exit.

Frontera: More spoofing, more company destroying litigation, no more cash – the Fat lady is warming up

Published 280 days ago

The gyrations in the share price of Frontera Resources (FRR) caused by its latest lie-packed City presentation have forced the company to put out a statement and it makes for truly grim reading. This company is worth 0p per share and in the current climate it may well get there before too long.

Sosandar – a pissed-off bull speaks!

Published 280 days ago

I continue to hold a small parcel of shares in AIM-listed Sosandar. I had been hoping to offload a few more at 50p but in the wake of a placing at 32p and the market sell-off that seems somewhat optimistic for some time to come. Tom Winnifrith sold all his shares some time ago and has commented on the update from the company and the placing at 32p HERE and HERE. So I thought I would throw my 2p worth in as well.

First Derivatives & the NASA "Customer win" er....

Published 281 days ago

Okay this is not a slam dunk pig and pork like the one that enabled the really dodgy IPO handled by bent broker JM Finn, bit it seems that every "deal" announced by First Derivatives (FDP) now has to be examined to see if it is what it purports to be.  Following on from the “contract win” with Red Bull Racing, which appears to be more akin to a sponsorship deal, another “contract win”, which should bear much closer scrutiny is the one with NASA.

Advanced Oncotherapy – when’s the placing?

Published 282 days ago

Shares in AIM-listed Advanced Oncotherapy are up by 30% today on the back of yet another technological update and a Flash Note from its paid-for research ramper-in-chief GPSL, the second in less than a week. Of course, yesterday the shares were down by around the same amount which all leaves me wondering when’s the placing?

MySquar – the fraud is now unravelling fast, the money's almost gone - target 0p

Published 283 days ago

This morning I have been berated on twitter by a self proclaimed “AIM expert” who reckons that MySquar (MYSQ) is the next big thing. I can only assume he is a stale bull desperate to get out as this fraud is unravelling apace. Wind back to last Friday at 4.30 PM, no-one is watching O Clock, when the company served up a trading statement.

Mayan Energy: Statement is laughable, whole board must GO NOW says top analyst

Published 283 days ago

Four days ago the CEO walked with immediate effect and without explanation. Today there is a pathetic statement from Mayan Energy (MYN) not explaining why the CEO was resigning but stating that everything is up for review: management, assets, operations. Until that is done capex is on hold. The only thing we are not told is how much cash is left. I suspect that is because the answer is SFA. On the case is the City's No 1 oil analyst Zac Phillips of SP Angel. Zac the knife pulls no punches and writes:

First Derivatives – another curious deal: 1010 Data

Published 283 days ago

In a weekend bearcast I flagged up that the real issue with First Derivatives (FDP) is that its core business is a rotten generator of cash. And that – as well as the fraudulent IPO and dodgy related party deals is why the shares ( off again this morning to £28.35) remain massively overvalued.  So what do you do if you are set to report dire free cashflows? Natch turn to the Sam Antar playbook – meet 1010 Data   

AIM- still sliding towards a bear market

Published 283 days ago

Statistics released for the month of September by the London Stock Exchange show that AIM is still contracting. When I wrote about this last month, AIM was already at its lowest ebb since 2004 and the latest numbers suggest that the decline is still ongoing.

Tern - Shocking Device Authority FY17 accounts released

Published 283 days ago

AIM-listed IoT investment company Tern (TERN) has seen its shares dropping again, despite the calls to Tom Winnifrith saying how shorts are being called in. That might put an upward pressure on the stock, but there is plenty down pressure too – and that includes today’s unaudited and abridged accounts for FY17 from principal investee Device Authority.

First Derivatives and its “Customer Wins”

Published 284 days ago

While readers reflect upon the various related party transactions undertaken by First Derivatives (FDP) over the years, see HERE and HERE, and in anticipation of  further revelations to come do the smart thing and SELL, it seems an opportune moment to consider more recent “contract wins”.

Minoan – Updates on GM (to dispose of travel) day

Published 284 days ago

AIM-listed Minoan (MIN) has updated the market on its Greek resort in Crete, Cavo Sidero, on the day of its general meeting at which it hopes to gain approval for the disposal of its travel and leisure division. There are some indications of some good news to come, but this morning’s statement reads pretty defensively as those shareholders turning up to the GM prepare to cast their votes.

First Derivatives - another related party deal that stinks, Carrickbridge Developments Limited

Published 284 days ago

The related party deal exposed HERE on Saturday that helped First Derivatives (FDP) to list via crooked broker JM Finn should have made any sane investor run for the hills. But for insane investors still on board there are more whiffy deals to examine. So here is number two...

First Derivatives - is this a smoking gun?

Published 286 days ago

Matt Earl has already done valuable work on First Derivatives (FDP). But is there a smoking gun? Let's rewind sixteen years...2002 was a tough year to launch a tech IPO.  

Haydale – shares tanking again. When's the placing (if you can)?

Published 287 days ago

I can’t help but notice that shares in AIM-listed Haydale have been on the slide once more. Today they are off by another 13.2% - I wonder if the company wants to issue a statement as to the reason why? Na….thought not. Well, just to help out Haydale (‘cos we are such nice guys)…..

Champion value destroyers Audioboom issue another dire warning dressed up in bullshit- bankruptcy looms

Published 288 days ago

Oh dear, oh dear. At what point will those who have backed this crock of shit decide that it is not worth chucking any more cash down this black hole. I know that free speech denying boss Rob Proctor and his relatives on the payroll need jobs but but this company is just a disaster zone. As he wakes up for a meeting with Karma today, Proctor tries to polish the turd but today’s lack of profits/almost out of cash warning is his worst yet. And that takes some doing given his track record of abject operational failure and of consistent value destruction 

Big Sofa – collapseroonie: Cynical Bear was right all along & I was wrong

Published 290 days ago

Like Tom Winnifrith I am licking my wounds, after AIM-listed Big Sofa (BST) announced awful interims (after the deadline, but escaped being suspended by releasing the numbers first thing this morning before AIM announced today’s suspensions) and a placing so heavily discounted that it made the interims look like the company had won the lottery. It has been a bad couple of weeks. Having been keen I suggested that readers pile in when IPSOS bought at a big premium yet the shares hardly moved. If it looks too good to be true…..lesson learnt.

5 Slam-Dunk sells for 2018 – September update

Published 291 days ago

Another month has passed, so it is time for another look at my portfolio of AIM stocks which I marked as slam-dunk sells at the beginning of the year. The five in question are UK Oil & Gas (UKOG), Frontera Resources (FRR), Telit (TCM), Inspirit Energy (INSP) and Catanae Innovation (CTEA), formerly Milestone Group. At the last count the portfolio was down by 22% - what is the score now?

KERBOOM, KERPOW! Origo Interims part 2 – hero Chapman rightly blasts the old regime again

Published 292 days ago

In part 1 of this expose we saw that the new board of AIM-listed Origo (OPP) had spent time getting to grips with the trainwreck of a company left behind by previous management. New chairman, John Chapman was not mincing his words as he told us that company records were missing, such as the due diligence and investment rationale for the company’s investments – as were some of the investments, “expenses” had been paid to someone who left the scene four years ago and that the old guard  including its Nomad had been understandably reluctant to hand over the keys. Now let’s look at some of Origo’s portfolio.

Move over Mystic Meg, all hail Canaccord!

Published 292 days ago

As avid readers of ShareProphets will know, we have been bearish on Imaginatik (IMTK) for ever – firstly for being a duff business, secondly for being a Rob Terry of Quindell infamy stock market darling and more recently because it was going to run out of cash. Despite all that, we almost tipped it as a short term play when the saintly Vin Murria was announced to be considering getting involved but were scared off big time by the share price reaction (the stock shot through the roof) and advised many times that readers give it a wide berth, partly because they would be over-paying and partly because Vin Murria could walk.

Haydale: now a director is selling - follow the lead

Published 292 days ago

Yesterday afternoon while the city was tuning in to the Ryder Cup, AIM-listed Haydale (HAYD) released an RNS announcing the sale of 38,233 shares (about 7.7% of his holding) by director Ray Gibbs – the CEO who announced his intention to step down in June on the back of a profit warning – on 26th September, the day before Hardman issued its after-hours ramptastic buy note.

KERBOOM!!! KERPOW!!! MAJOR AIM SCANDAL: hero Chairman John Chapman blows the lid on previous board and advisers at Origo – part 1

Published 292 days ago

I commented back in June, when ShareProphets AIM-China Filthy Forty investment company Origo Partners (OPP) announced its FY17 results that I underestimated the new board of Origo after new Chairman John Chapman tore into the investments made under the old board and advisers. Yesterday, as Origo got its interims out on deadline day, John Chapman tore into the old crew even more. The attack (totally justified, in my humble opinion) is astonishing – no “old school tie” behaviour here, it is utterly devastating. Mind you, given that the (now former) investment adviser had coined it to the tune of $31 million in performance payments by the end of 2014, and now Origo’s shareholders have just $13.6 million to share between them (as opposed to $81 million as at June 2017) with no dividends one has to think Mr Chapman has a point. Will AIM Regulation act? (Don’t laugh too loud….)

Zac I know you are house broker but “you cannot be Serious” re Curzon Energy & Cabot

Published 294 days ago

I feel rather sorry for the City’s Number 1 oil analyst Zac Phillips today. Not only is his company retained adviser to Cabot Energy (CAB) but also to Curzon Energy (CZN). Thus he has to gush enthusiastically about both with boss John Meyer sitting there holding a gun to his head and waving a black bin liner with Zac;s name on it menacingly, as the poor analyst writes his morning comment.

Richard Jennings of Align, sticks knife into his own client, Widecells, wants EGM to oust the board

Published 295 days ago

Let's be clear here. Widecells (WDC) was a client of Align Research run by Richard Jennings. That is to say it paid Align to publish research. It is thus all the more remarkable that Jennings is prepared to stock the knife in, attack recent actions by the company and is now buying shares in the market to call an EGM to fire the board. Get your beer and popcorn ready, for what it is worth I agree with Jennings on this matter and urge all shareholders to contact him to offer their support. He writes:

Mirriad parts company with CEO just 9 months after disastrous IPO, cash spunk up to £1m pcm

Published 295 days ago

Cynical Bear warned you that the 62p per share, £63 million, IPO of Mirriad Advertising (MIRI) would cause tears before bedtime. Obviously not for IP Group (IPO) which was able to justify its daft pre IPO investments in relation to that crackers listing price. Nor for Nomad and broker Numis or PR parasites Hudson Sandler which will have earned fat fees for the listing. Coke and hookers all round for the crony capitalists.  But for anyone dumb enough to buy the stock since the IPO this has been a horror show. The shares are now just 30p mid, they have more than halved in ten months on the AIM Casino. So what’s today’s news? It is bad, natch.

Haydale – ramped after hours by Hardman, it didn’t work…..SELL

Published 295 days ago

Yesterday at 5.20pm – no-one-is-watching o’clock – paid-for research house put out some piffle about AIM-listed Haydale (HAYD). The shares are attractively valued compared with their peer group, on P/NAV and EV/sales, and also on a DCF basis don’cha know. Well, maybe – apart from the fact it is loss-making, going to run out of cash and the last placing was at a 32% discount! If the company thought that would get a lift in the share price, I’ve got bad news….

Top analyst: Frontera Resources management greed is "obscene", company “pollutes” the sector

Published 295 days ago

I shall turn to Frontera Resources (FRR) results later. Suffice to say they are shite, the company is out of cash and a bailout placing is needed ASAP. But should you back that placing, given who has eaten all the money? Over to Zac “the knife” Phillips , the City’s No 1 oil analyst, who works at SP Angel. I have rarely seen Zac this angry…

FastJet (yet again) warns it could be tits up within weeks

Published 296 days ago

The journalist smearing PR bastards at Citigate Dewe Rogerson snuck out results from FastJet (FJET) just after noon hoping that the whole world would be on a lunchbreak. Not only are the numbers utterly shite but having raised $10  million in July the company now ‘fesses that it needs more cash by the end of October or it will be once again at the cul de sac at the end of tits up alley. Disgraceful.

Imaginatik – Saintly Vin Murria walks, Nomad resigns, grab your crisps now

Published 296 days ago

AIM-listed former rob Terry darling Imaginatik (IMTK) has announced that the deal to bring in Vin Murria is all off.  The Nomad, finnCap, is – as it promised it would – resigning as from the end of today and the shares have collapsed by (so far) 76%. What’s not to like?

Goaded by ShareProphets, Draganfly issues a statement re cancellation of listing

Published 297 days ago

Yesterday at 9.33 am ShareProphets published our criticism of (formerly) AIM-listed Draganfly, which hadn’t bothered to update investors since July and whose shares were cancelled from the Casino yesterday morning. So much for the RTO and associated due diligence process which was well advanced in July! The cancellation was announced by AIM at 7am, yet it took until 10.44 for Draganfly to issue a statement. Why?

Rurelec – another warning from Argentina, working capital “severely constrained” (again…)

Published 297 days ago

AIM-listed Rurelec (RUR) has again warned that cash is extremely tight and income isn’t flowing in from Argentina. Well, we’ve heard it all before so many times and yet the company continues to survive (so far) but eventually there may come a day when it cannot.

Filthy Forty – China New Energy delivers interims, Look at the balance sheet - Bargepole stock

Published 298 days ago

AIM-listed China New Energy (CNEL) of the ShareProphets AIM-China Filthy Forty has this morning delivered its interims ahead of Friday’s deadline. So no pending execution here, then! Chairman Yu Weijun tells us that he is very pleased to report that the Company's continued revenue growth and profitability……The company has a current order book and work in progress of RMB 294 million (c. £34m) to be fulfilled by December 2019, and I am confident that the business outlook is for continued profitability. Well, that’s great news. Of course, there are a few questions to be raised, though….

Bye-bye Draganfly - another stink the AIM Casino does not want you asking questions about

Published 298 days ago

Shareholders in (now formerly) AIM-listed Draganfly (DRG) were treated this morning to news that the company has been given the AIM-Casino heave-ho as of 7am. Of course, ShareProphets readers were warned two years ago and twice more since that this run’n’coke was one for the asbestos suit and a very long bargepole – see HERE, HERE and HERE.  I guess an ouzo is in order….

Tern – conference call answers questions? No, but it was a sell note

Published 299 days ago

So hats off to AIM-listed Tern (TERN) boss Al Sisto for answering my two questions. At least, that’s what we are to believe but having waved goodbye to almost an hour of my life listening to the Q&A call the message was clear: we will release news in accordance with AIM Rules. To be fair, one of my two questions made the cut and sort of got an answer, but not one that sheds any light on the situation. The other, well….maybe next time. And then there was, effectively, a sell note from Mr Sisto!

Filthy Forty – results deadline looms, will there be yet more casualties?

Published 300 days ago

Since there are now just seven companies remaining of the original forty, and with the end of September coming up I thought it high time to have a gander across the remains of the ShareProphets AIM-China Filthy Forty.

SP Angel’s Zac Phillips wrong on Frontera as it prepares for another lie-fest on October 4

Published 302 days ago

As it tries to stop its share price collapsing ahead of its much needed bailout refinancing, Frontera Resources (FRR) has announced another lie-fest, or as it terms it “shareholder update meeting followed by Q&A” on October 4. The City’s top oil analyst Zac Phillips of SP Angel is damning on this POS in his morning email but gets it 100% wrong when he says there is “Only 1 question.”

Minoan – the good, the bad and the ugly.

Published 302 days ago

AIM-listed Minoan (MIN) has this morning finally announced the sale of its travel and leisure business. Hooray – that only took nine months! In many ways the deal is perhaps  a bit better than I had feared, in terms of dilution (the good), but the end result will be that Minoan is still left with £0.9 million of debt (the bad) and with the warrants associated with the loan now dropped to just 3.5p exercise the shares are off by a whopping 30% to just 3.9p and the company tells us it will have to raise more cash (the ugly). 

Sosandar – AGM statement offers no numbers but plenty of encouragement

Published 303 days ago

AIM-listed online ladies clothing purveyor Sosandar (SOS) had its AGM today and offered a few nuggets of information which suggest that things are pretty much on track with management expectations. Since we already know that management is “very comfortable” with the forecast numbers offered by house broker Shore Capital (I would translate that as meaning easy to beat!) and we know those numbers (see HERE). So that looks pretty positive. Mind you, we were not offered actual numbers for summer trading as the Adam Reynolds computer keyboard struck again!

Winnileaks strikes again: Frontera (again) lies to and misleads investors over Yorkville – when will its Nomad force it to tell the truth?

Published 303 days ago

Yesterday Frontera Resources (FRR) received a second lawyers letter from convertible loan note provider Yorkville in regard to the $2.65 million outstanding debt on which it is now in default. The letter accused Frontera of lying to investors.  Frontera has not disclosed that letter, or its contents nor has it repaid the sums due to Yorkville Instead it has issued another RNS which is simply misleading. It is doubling down on lying and apparently Nomad cairn is fine with that?

Haydale FY18 results: survives going concern (just) but a placing is only a matter of time: Avoid.

Published 304 days ago

Shares in AIM-listed graphene play Haydale (HAYD) are off again to 44p (mid, last seen) following full year results to June this morning. Following a profit warning in June, when I said this was a bargepole stock at 78p and suggested that we were in for a £6 million loss before tax, cash would be down to around £5 million at year-end and another big cash-call was on the way, let’s see how my Mystic Meg powers are holding up……

RM2 – Wins "Significant" Contract er... whatever it is still 5 minutes from bankruptcy

Published 304 days ago

Shares in Neil Woodford uber dog RM2 (RM2) are up by 59% at 0.875p. That means that the market cap has jumped by £14.4 million to £38.8 million on the back of a contract win termed “significant” but which clearly is not and does not change the fact that this company is five minutes away from midnight, that is to say bankruptcy. It’s got to be placing ahoy.

Tern – Interim car-crash: SELL

Published 305 days ago

AIM listed jam-tomorrow (or the day after) IoT investment company Tern (TERN) has released its interims to June 2018 and despite the polishing of things unmentionable they show what a car-crash had been – and still is - going on.

Frontera Resources falls out with Yorkville which calls in $2.65m debt – it is fecked, will Nomad Cairn walk?

Published 305 days ago

In the end the chaps at Nomad Cairn walked from Cloudtag (CTAG) when it was clear that it was a fraud run by liars. Frontera Resources (FRR) is a shit show run by liars and a fallout with death spiral provider Yorkville (YA) today could be the final straw for Cairn – might it resign leaving the (worthless) shares suspended? Or will Frontera just go bust?

Tern – more cash to bottomless pit Device Authority

Published 308 days ago

AIM-listed jam-tomorrow investment company Tern (TERN) has announced, as predicted HERE, yet another loan to its principal investee company, Device Authority (DA) – this time for $525,000 (around £400,000) which, we are told, is repayable on 31 December 2018 or convertible into shares if DA ever gets a fundraising away.

Updated: Tom Winnifrith Bearcast: Angus Energy, the ramping, the placing (or not) & the sordid truth of Tidswell's share trades it needs to admit to

Published 309 days ago

Update. Two thirds of this podcast stands. The ramping and share dealing comments are 100% fair and very serious. But there is no placing as this podcast suggests  - I was "played" as explained HERE. David Lenigas is leading the ramping of Angus Energy (ANGS) shares as you can see below. A placing is on the runway,  Then there is the issue of the shares sales by America 2030 of shares ex CEO and Company founder Jonathan Tidswell-Pretorious claimed to own as we reported here. Quite simply what Angus stated in RNS statements which is what we reported is not what happened and it has failed to acknowledge that and what has happened since. Until it does new Nomad and broker Stockdale must surely stop any placing going ahead - there will be one one day. Listen and despair of the AIM Casino. 

TrakM8 AGM – another day another profits warning on the way

Published 310 days ago

My long term bearishness about TrakM8 (TRAK) a company that issues misleading RNS’s, makes ludicrous acquisitions as it racks up its debts and never translates profits (a matter of opinion) into cash (a matter of fact, unless you are an AIM China fraud) is well documented here.  Of course,  Thirsty Paul Scott had cosy chats with the management and knew better than a "nutcase of the first order". Today the shares have tanked to a new multi year low after another dire statement.

Haydale – batten down the hatches: discounted placing imminent!

Published 311 days ago

AIM-listed graphene play Haydale (HAYD) announced a Contract Updates % Notice of Results RNS this morning. Don’t be fooled: there’s a placing coming and the updates are a tad over-dressed to help.

Is AIM in a bear market?

Published 312 days ago

I see that another three AIM companies ended their membership of the Casino this morning, namely Dalradian Resources (DALR), Zamano (ZMNO) and Weatherly International (WTI). On the one hand I keep hearing how AIM is outperforming the main market (something of a turnaround, at long last – and for the cynical perhaps a sign that the bull run is coming to an end!) but I keep seeing departures. AIM may have outperformed the main market, but I wonder for how long given the mad exuberance of shareholders in the likes of Frontera (FRR), UK Oil and Gas (UKOG) and Tern (TERN). And, as I discovered this morning, the number of companies listed on AIM still seems to be falling away markedly.

Elon Musk's biggest fan in Greece updates his facebook page - crime does pay for Costis the Globo fraudster

Published 312 days ago

Elon Musk might be forgiven for thinking that few in the business community still love him. But he does have fans. Step forward Costis Papadimitrakopoulos the founder and CEO of Globo (GBO) which raised tens of millions of dollars in debt and via issuing shares on AIM and claimed to have net cash but er... did not. It was a fraud and Costis took stacks of that cash and also sold all his shares before the balloon went up after being tipped off by snot gobbler Dan McCrum of the FT. Anyhow Costis has been busy on facebook updating his profile last month as you can see below.

Beer & Popcorn time: The man who backed the Quindell fraudsters moves to oust Insider dealer Yosi Fait from Telit

Published 315 days ago

Davide Serra is a man with a track record of terrible calls. For starters he was pals with call Me Dave Cameron. Then he stuffed other folks cash – the funds he manages – into Quindell and sent pompous missives to the FCA demanding that we fraudbusters who were pointing out the blatant fraud be hung drawn and quartered. Quite simply Serra is a fool and a prick. Natch he has bought up 5% of Telit (TCM), the company founded by the US mortgage fraudster and fugitive from justice Oozi cats, nee Uzi Katz.

Conroy Gold – Share Talk - sordid ramping at the bottom end of AIM

Published 316 days ago

Share Talk is a website that takes money from, usually, crap companies. It does not appear discerning. If you are a PLC with a cheque book come on down! It does not disclose its business model and it then provides what it terms “the Independent voice across social media” or what you and I would term sordid share ramping. Shares in Conroy Gold (CGNR) are up 30% today to 13p to sell thanks to such ramping. But before you get too carried away….

Trafalgar Property – full-year results: “well placed to deliver…”. Really?

Published 316 days ago

I last commented on AIM-listed Trafalgar Property Group (TRAF) back in July 2015, after it snuck out its results at 5.23pm on a Friday, announcing losses for its year to March 2015 but saying it was seeking a return to profitability in 2016 and 2017. So how has it done?

Filthy Forty Walcom – defaulting largest customer pays up….well £34k (still £632k due, further £92k falling due)

Published 318 days ago

ShareProphets AIM-China Filthy Forty play Walcom (WALG) – one of just seven remaining – announced yesterday that its largest customer had at last ponied up some cash. But it is only to the tune of about £34,000. Against a further approx. £632,000 owed and overdue, and another approx. £92,000 falling due by mid-month, that is a drop in the ocean.

Frontera: ramp, ramp, rampety ramp. Where’s the $3m from the “unrelated institutional investor”?

Published 319 days ago

AIM-listed rampathon Frontera Resources (FRR) has announced yet another ramptastic update this morning. Apparently it has entered into Non-Disclosure and Data Exchange Agreements with two industry majors and is currently progressing with technical work and commercial discussions regarding possible transactions involving a farmout or joint operating arrangement within its Block 12 holdings in Georgia but discussions are at an early stage. Righty-ho. The market has gone bananas this morning, marking the shares up by as much at 34% - very handy, for Frontera needs to get a placing away pronto. But Waseem Shakoor has been wondering what happened to the $3 million funding?

A Letter to Marcus Stuttard and AIM Regulation – suspend Andalas now and stop the bailout placing

Published 320 days ago

Almost out of cash, Andalas Energy (ADL) is gearing up for a bucket shop placing c/o joint bucket shop brokers Novum Securities & Optiva in the usual way: a ramptastic podcast with PR genius Steffi, 2 ramptastic RNS announcements and a ramptastic paid for podcast with Vox.  The trouble is that its claims have now been directly contradicted by its partner in the North Sea Badger field, Atlantic Petroleum (see HERE). If it turns out that Andalas was making unverifiable fantasy claims, as it appears, and raises money at an artificial price on the back of that, this would be a clear case of Securities fraud. In order to stop that the shares must be suspended at once pending a statement.  I have written to the fake Sheriff of AIM, Marcus Stuttard at AIM Regulation as you can see below.

Octagonal – questions for the company, Roland “Fatty” Cornish and the FCA?

Published 320 days ago

As Roland “Fatty” Cornish settles down to his Sunday Lunch, and considers what to do about the growing scandal at AIM-listed Andalas Energy (ADL) – a company to which he is Nomad – I have something else for him to chew on as he munches through his double helping of spotted dick with extra lashings of custard. It concerns another company to which he is Nomad, namely AIM-listed Octagonal (OCT). I gather he is well aware of what follows, but has he done anything?

Conroy Gold and Natural Resources – £0.5m placing at 13.75p; nowhere near enough

Published 325 days ago

AIM-listed Conroy Gold and Natural Resources (CGNR) has announced a placing at 13.75p to raise £0.5 million, boasting a 20 per cent premium to the market price. Well that’s fine and dandy – so why has the market not piled in behind the placees? The shares are up just one penny, leaving the stock at 12p to sell.

A Letter to AIM Regulation: Is SP Angel fit and proper to act as a Nomad (and should the FCA investigate it as well)

Published 330 days ago

Enough is enough. Yesterday John Meyer, a senior manager and large shareholder in SP Angel went onto Justin the Clown’s podcast to ramp corporate stocks such as Blue Jay Mining (JAY) without declaring an interest – his employer earns vast fees from Blue Jay as its Nomad and broker. But this is the least of SP Angel’s crimes and I wonder if its conduct over Blue Jay and MySquar (MYSQ) is, if not blatant market abuse, simply bringing the AIM Casino into disrepute. I have written to Marcus Stuttard, the head of AIM Regulation, demanding an immediate investigation into whether SP Angel should retain its Nomad license.

UK Oil & Gas – the Real maths not the Leni-maths – SELL on today’s news

Published 333 days ago

Giving its piss poor drilling results elsewhere the future of UK Oil & Gas (UKOG) is almost entirely a play on the Gatwick Gusher, aka, Horse Hill, aka the latest mega ramp engineered by David Lenigas. Today UK upped its stake in Horse Hill by an effective 4.55% to 36.985% in a deal which only demonstrates more clearly how grotestquely overvalued its own shares are. That is unless you are using Leni-maths.

Ref Bluejay – a briefing note on the reality of mining in Greenland (it's grim up North)

Published 337 days ago

Natch, shamed and disgraced Nomad SP Angel of Mysquar (MYSQ) infamy is still refusing to say whether it dumped shares in Bluejay Mining (JAY) while advising its poor clients to buy. But I cannot blame it, if it did dump because the £132.8 million market cap – at 15.25p – is frankly barking. In large part that is because the climate for mining in Greenland is just very hostile, something SP angel neglects to mention in its ramptastic research.  

Tern – so was former Nomad WH Ireland pushed, or did it jump?

Published 338 days ago

I noted last Thursday that in the wake of updated Directors’ information (Messers Leith and Ritchie having missed out ten insolvencies) and the clarification over forecasts for Device Authority that one wonders what will come out next from AIM-listed Tern plc (TERN). Well, on Monday it announced it had appointed Allenby as Nomad. What I wonder is whether WH Ireland jumped or was pushed?

ShareProphets Tern poll results vs BBMs: the BBMs win (for now)

Published 340 days ago

Our reader poll last Monday asked you where shares in AIM-listed Tern plc (TERN) would end the week. The answer was...

BMR Group – After the delisting, what now?

Published 341 days ago

Following my piece HERE which voiced concerns that formerly AIM-listed BMR Group (BMR) had simply been executed by the oxymorons, I had a chat with the company to find out what comes next. My hope is that the company will release a statement in due course, but in the meantime what I can report is that it seems all is not lost. I can also report a little more on the loss of its licence in Zambia (which was subsequently restored).

Pathfinder Minerals: Drain the Swamp Time - Fire Nick Trew now!

Published 343 days ago

We have news today that Pathfinder Minerals (PFP) has a new Nomad and broker in Strand Hanson and two new directors in Simon Farrell and Scott Richardson Brown. The former becomes non exec chairman replacing disgraced Nick not for the many but for the Trew but, Trew remains on the board. This is not good enough. It is time to drain the swamp. And it can be done at once. Here's why.

Tern – “Updated Director Information” = WE LIED

Published 344 days ago

Another day and another shocking disclosure from AIM-listed Tern plc (TERN). Yesterday, at 3.10pm, after releasing details of two director buys which were trivial and showed Tuesday’s news of Device Authority’s elevation to “2018 Emerging Star” to be just a ramp (or insider trading by the chairman, take your pick!) we were told that disclosures in relation to two directors of the company had not been entirely truthful: the published directorships of the two had omitted not just the odd one which might have slipped the mind. No, it was TEN!! More to the point, it was ten insolvencies which should have been declared when they were appointed – and a further two which should have been disclosed after appointment.

BlueJay Mining - the 1 simple question SP Angel refuses to answer - why?

Published 345 days ago

My patience with BlueJay Mining (JAY) and its Nomad and broker SP Angel is now wearing thin. Yesterday I explained how the two grotestquely misled investors with an RNS. I have emailed John Meyer at SP Angel today with a follow up question which he and his firm just seem unwilling to answer. It is a critical question and the silence is deafening.

Tern – trivial director purchases show yesterday’s news was just a ramp

Published 345 days ago

AIM-listed Tern (TERN) has announced that two of its directors have been purchasing shares. Normally one would pay attention, but there are good reasons to see through this as just a spoof.

Tern – “cannot comment on external, independent, commentary, valuations or assessments of the Company and its investments”? Er....

Published 346 days ago

Back in 2015 AIM-listed Tern plc (TERN) responded to grenades from this website after we had exposed the “error” in an apparent valuation of Cryptosoft (now Device Authority) of $75 million when the company did a placing. It was a typo, and should have read $75,000 – and it wasn’t even a valuation. But Tern issued a Statement re share price movement which said there was nothing the company needed to announce and went ahead and did a placing, taking advantage of the hiked share price. The shares fell very sharply once the truth was out. And now we have “news” this morning. Is it too good to be true?

Photo Article: Cynical Bear does the decent thing on Optibiotix

Published 346 days ago

For eons Cynical Bear has made one of his seven things that will never happen series, that Optibiotix (OPTI) shares would not reach 100p. As you may have twigged, they have reached and now breached, closing last night at 124p. And with a very pregnant deal pipeline so a stack of RNS's on the way, we who ignored the old Bear are feeling happy. I teased him that by way of apology he should send a bottle of ouzo to Sheriff of AIM Towers. He is a good man old Cynical Bear. Late last night, guess what arrived...

ShareProphets Reader Poll - your predictions for Tern shares by Friday

Published 347 days ago

In the wake of AIM-listed Tern (TERN)'s debacle of its "clarification" on Friday, the shares collapsed by a whopping 39%. The BBMs seem to think this is all a bit of a misunderstanding and a further clarification will come leading to a mega-bounce. Good luck to them with that! But what do ShareProphets readers think?

After the ouzo, what now for Tern? And what about InVMA?

Published 348 days ago

It seems as though AIM-listed Tern has been found out – and not for the first time. Having had my traditional ouzo, the question is what happens next. And while we are at it, what about its investments into InVMA?

BMR Group – Booted off AIM yesterday morning, but what is the real scandal?

Published 349 days ago

I wrote a few pieces on (now formerly) AIM-listed BMR Holdings (BMR) back in February when its Zambian Mining rights were stripped away – the previous threat of which it seemed to know of the previous September (when it did a placing) but did not share with the market. That was eventually resolved and the rights restored, but this morning BMR was given the boot from the Casino. Perhaps we should not be too surprised, but I wondered what was going on here. What I have been told suggests an absolute scandal – but not at the hands of BMR…..

Tern – “clarifies”. Has it committed securities fraud, or does it just stink?

Published 350 days ago

Shares in AIM-listed Tern plc (TERN) are down sharply this morning by 20% (last seen) on a clarification from the company regarding its principle investee Device Authority. In short, forecasts were, shall we say, a tad optimistic. That, in the wake of a placing at 26p. Perhaps some kind person can explain why that might not amount to securities fraud, for as a humble non-lawyer all I can say is it stinks.

SCOOP ( NOW CONFIRMED): FastForward is trying to raise £5 million in placing - source

Published 352 days ago

The results which came out in early July made it clear to anyone who could do basic maths that Jim Mellon's FastForward (FFWD) would be passing the hat around shortly. Three ramptastic RNS's followed and today I can reveal that the company is on the road trying to raise £5 million in fresh equity. 

Filthy Forty Walcom – customer still not coughed up, now its off to the lawyers

Published 353 days ago

ShareProphets AIM-China Filthy Forty play Walcom (WALG) – one of just seven remaining – has announced that its largest customer still hasn’t ponied up the wonga. There’s a surprise…..not! Also unsurprising is the share price reaction, where the bid price has dropped to just 0.25p. If you wanted a bag of crisps, you’ll have to settle for Tesco Value ones now.

Globo – Grant Thornton is not off the hook despite the FRC dropping investigation

Published 354 days ago

Globo (GBO) was a fraud which claimed to have cash but did not and is now bust.  Its downfall was precipitated by ShareProphets publishing a Gabriel Grego dossier after the FT and snot-gobbler Dan McCrum merely tipped off the CEO allowing him to dump all his shares and failed to publish. Now the Financial Reporting Council says that it is letting auditor Grant Thornton off the hook and dropping its enquiry.

Standard-listed AIQ: interim numbers - SELL

Published 354 days ago

AIQ (AIQ) joined the Standard List in early January and spent most of the first four months of its life suspended due to a disorderly market, had to correct its admission document because it had missed out some information and steps had to be taken to remove some internet references to businesses which, we are told, it had nothing to do with. It was a shambles. This morning it released its interim numbers to April.

5 Slam-dunk sells for 2018 – July update

Published 356 days ago

I suggested five stocks to sell for 2018 as part of the ShareProphets Christmas tipfest some seven months ago. This tale this month shows just how mad the AIM market is in this bull market: it seems that investors have simply lost their senses.

Photo Article: 4 Rogue Share Bloggers walk from Horse Hill to Woodlarks - No 4

Published 356 days ago

Two and a half hours in and Tom is already taking a break. With approximately nine more hours to go, is the Sheriff of AIM up to the task? To help us keeping raising money throughout the day, please make a small donation HERE

Tern – Waseem Shakoor kicks the hornets’ nest

Published 357 days ago

Great bear Waseem Shakoor has responded to AIM-listed Tern (TERN) and its £2.9 million placing at 26p by suggesting that the company took advantage of a stock shortage to get the share issue away. If he is right, the implications are shocking.

Tern – yet another placing (told ya!) and investee InVMA goes shopping

Published 359 days ago

Time to get out the ouzo, for AIM-listed jam-tomorrow investment company Tern plc (TERN) has raided the bucket shops once again – this time raising £2.9 million (before expenses) at 26p, a discount of 21%. In a separate announcement, we are also told that investee company InVMA has been shopping – but no financials are offered and I fancy that is because the purchase is quite insignificant - it was, after all, an RNS Reach.

Horse Hill oil tankered out – no evidence at all that the Gatwick Gusher is an, er…gusher as David Lenigas tweets suggest

Published 360 days ago

The UK Oil & Gas (UKOG) twitter feed, dutifully retweeted with added hype by David Lenigas, has so far reported three tankers leaving Horse Hill full of oil to be sent to the BP refinery. But is this proof that the Gatwick Gusher is a gusher? That is what the Bulletin Board Morons believe but they would believe almost anything. Let’s look at the tweets below and do some maths, not Leni-maths, real maths.

WinSemi - disastrous earnings report - surely this is very bad news for IQE?

Published 361 days ago

Win Semi is the world's largest GaAs chip foundry and are central to the 3D sensing supply chain.  Below you can see the first page of a broker report that came out on Friday which describes its quarterlies as "disastrous".  So what? aay the IQE (IQE) bulls.

More Adam Reynolds humble pie for Cynical Bear as Optibiotix hits 100p & more to come – where’s my ouzo?

Published 361 days ago

First there was his flip flop On Sosandar (SOS) when he ‘fessed that his bearishness was an error. Now Cynical Bear’s much repeated claim in his seven things that won’t happen series, that Optibiotix (OPTI) would not hit 100p is in tatters too as the shares have this morning touched that level. Time for another volte face? And more importantly…

Frontera Resources: Dismal operational update, cash crisis, Waseem & Zac stick in the knife

Published 364 days ago

As we all know, Frontera resources (FRR) is out of cash. It is running on fumes. It is desperate to pump the stock any way it can to get away an emergency placing needed to survive. The only question is how big a discount will the bucket shops demand. It is against this background that it released a dismal operational update yesterday. Only a fool or a paid ramper like the whore Blogger, fat bastard, aka Malcolm Graham Wood would describe it as anything other than the usual shite.

Tom Winnifrith Bearcast - The £172k court case Safestyle is keeping quiet about & why Chris Bailey's City pal is wrong

Published 365 days ago

I recorded this on my last night in Greece. As you listen I shall be starting the trek back to Bristol. I appeal to those yet to donate to the Woodlarks charity walk by myself, Lucian Miers and Brokerman Dan to donate HERE - we are at 69% of our £20,000 target and every cent pledged will make a difference. Thanks to a reader for spotting a court case involving Safestyle (SFE) which is utterly shocking - I reckon this makes the stock uninvestable. I then take issue with the analysis of a City pal of Chris "three brains" Bailey on the matter of fraud.

Fatso Baldry – when’s the Westminster Group bailout placing & at what price?

Published 367 days ago

Shares in Westminster Group (WSG), run by loathsome ex Tory MP slug, Tony “fatso” Baldry of 3DM infamy have slipped again to just 9.2p to sell.  Those who ponied up £750,000 in the last bailout placing at 22p, less than six months ago, must by now realise that backing a Baldry run company is financial hara kiri.  But things are going to get worse. You see the money's almost gone....

Haydale – shares sliding, who thinks there’s a placing on the way?

Published 371 days ago

You have been warned (see HERE) that AIM-listed Haydale (HAYD) is a nailed-on certainty for a discounted placing. We also know that the last placing was at a mammoth 32% discount (at 120p!) and the CEO has recently stepped aside following a (lack of) sales warning. Since then, the shares have been a one-way bet southwards, and we reckon a placing at 50p was on the cards.

Andalas – The greed of scum City advisers laid bare as another post ramp bailout placing announced

Published 373 days ago

That insolvent Andalas Energy (ADL) is undertaking a placing is no shock. It is insolvent with negative net current assets of  at least £400,000 but thanks to some fairly sordid share ramping it has managed to raise a gross £1 million at 0.02p. The ramping of shares in this company with worthless assets is pretty unpleasant but what is laid bare in the news is the sheer greed of City advisers notably brokers Novum – of Jon Belliss and Gavin “I made £750k from Globo - Burnell infamy – and Optiva.

Filthy Forty Walcom – surprise, surprise: the customer hasn’t paid yet. SELL!

Published 374 days ago

On 28th June ShareProphets AIM-China Filthy Forty play (one of only seven remaining) Walcom (WALG) announced it was having problems getting its biggest customer to pay – but it was ok because it expected to cough up by 10 July. Well, here we are and surprise, surprise……it still hasn’t ponied up the wonga. The company issued an RNS entitled “Customer Payment” (if that is not misleading, I don’t know what is!)

Tern – Waseem Shakoor taunts “ponzi”, shares continue to drift, still a sell

Published 375 days ago

AIM-listed jam-tomorrow investment company Tern (TERN) has been an amazing ride this year. Having started the year at 3p the stock went on a run all the way up to 58p, when the board had to issue a statement reminding the market that its NAV per share was still around the 5p mark. I called the stock a sell – at 43p – and now the stock is down to 25p. But it is still a sell.

Angus Energy boss Tidswell gets booted after Shareprophets exposes but is he now a shadow director?

Published 378 days ago

After recent revelations here the position of Angus Energy (ANGS) founder and chairman Jonathan Tidswell-Pretorious  was untenable and today he has “been resigned” from the board with immediate effect. But Tidswell will remain as a non- Board Operations Director, responsible for progressing all the Company's oil & gas operations while some oafish NED becomes chairman, in name at least.  That is what the company says…

Eqtec – dodgy Bercheva death spiral ended, now welcome to the world of structured finance!

Published 379 days ago

AIM-listed Eqtec (EQT) has announced a funding package this morning. The good news is that short-seller Bercheva - run by a convicted crook -  has been given the heave-ho from the death spiral facility, but the replacing loan deal seems to offer great terms to the lender and the accompanying placing is at a 35% discount. So what’s the upside for shareholders?

Angus Energy boss Tidswell and the share swindle it gets even better – meet Elizaveta Lata

Published 382 days ago

Only London’s worst Nomad, Roland “fatty” Cornish could have overseen the shambles at Angus Energy (ANGS) exposed earlier today HERE whereby its boss Jonathan Tidswell-Pretorious handed over all his 39 million shares as security on an (undisclosed) before signing paperwork only to find – with no money advanced – that 10.8 million had been flogged. But it gets better. Far better.

Angus Energy – pure comedy as the ghost of Equities First Holdings comes back to haunt the AIM casino c/o Roland "Fatty" Cornish

Published 382 days ago

It is hard to know whether to laugh or to cry but it seems that the CEO of Angus Energy (ANGS), Jonathan Tidswell-Pretorious seems to have lost a stack of his shareholding in his company and, inadvertently, his range of advisers (led by London’s worst Nomad Beaumont Cornish) have misled investors. What a clusterfuck.

Minoan – sale of Travel & Leisure expected “in the next few weeks,” funding Hillside settlement. Buy.

Published 382 days ago

AIM-listed Minoan (MIN) announced yesterday morning that the sale of its travel and leisure division looks set (at last) to progress to an exchange of contracts, and a General Meeting will be called to approve the transaction. We are also told that the Hillside loan facility is expected to be settled and that the sale will provide the funds so to do. This is all very good news, although it has taken heading for seven months to get this far with the sale. Those with a glass half full might complain of evaporation….

Filthy Forty China New Energy FY17 numbers: Red Flags for breakfast?

Published 384 days ago

ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) put out its full year numbers for 2017 at 7am on deadline day, last Friday. It boasted significantly increased revenues and profits, so all’s well? Er…

Five slam-dunk sells for 2018 – June update

Published 384 days ago

I wondered last weekend whether we might see a casualty amongst my portfolio of five slam-dunk sells for 2018 as the reporting deadline on Friday approached. Sadly all outstanding numbers were forthcoming, so no ouzo for me. But the reported numbers were staggeringly awful.

Bombshell: IQE Photonics - Fading fast?

Published 385 days ago

Last week I wrote about how IQE’s (IQE) latest annual filing revealed that were it not for one major customer, IQE’s business would have gone pretty much nowhere. Therefore all the excitement and value increase appears heavily reliant on that one major new customer. Today we highlight how at its recent AGM, on 4 June, IQE provided guidance of a 40:60 revenue split for H1:H2 2018, indicating either a slowdown or (as some may hope) merely a deferring of growth.

Tungsten: beer and popcorn time as GM requisition to boot out the board is received

Published 385 days ago

Steve Moore commented HERE on press reports of potential boardroom strife at AIM-listed Tungsten (TUNG). It now looks as though the gloves are off, as last night at no-one-is watching o’clock (4.32pm) on a Friday evening the company announced it had received a General Meeting requisition with proposals to boot out the Chairman, CEO and two NEDs. I reckon we could be in for a treat on the entertainment front!

Filthy forty Origo – reveals a true horror story. Ouzo? No thanks, I want the sick bucket

Published 385 days ago

I warned on Thursday that if you are still holding, one might be tempted to compare the benefits of that versus a bag of crisps. Following a flow of dire news, on Friday ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued the most damning statements in its FY17 accounts, and the shares crashed by a horrifying 64%. It is truly horrifying. Step forward the investment adviser Origo Advisers (which more-or-less doubled as the company’s previous management), take a very special bow, please, Auditor BDO in Hong Kong. Take a turn, please, former Nomad Smith & Williamson. Normally at times like this I would be reaching for some of Tom Winnifrith’s Ouzo, but I can’t seem to let the sick-bucket go.

David Lenigas ramps UK Oil & Gas shamelessly on twitter - the master pumper is back

Published 385 days ago

You would have thought that after being caught ramping UK Oil & Gas (UKOG) where he is a paid consultant in the most shameless fashion and with statements he could not verify as a bailout placing got underway, as exposed here, Big Dave would STFU. But now...he has no shame and is tweeting like a dervish once again as you can see below. In the US this sort of behaviour by "consultants" would be dealt with very firmly indeed but this is the AIM Casino.

Filthy Forty Origo Partners: FY17 numbers due tomorrow, another investment disaster clocked up

Published 386 days ago

On Tuesday 26 June, ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) fessed up that it had lost another boat-load of cash, this time on Kincorra Copper (TSX.V: KCC). Actually, it didn’t – we were simply told it had been sold for CAD 2 million (around US$ 1.5 million). It is not until you realise that the company had sunk US$ 8.5 million into Kincora that you see what a shambles that investment was.

Updated: Filthy Forty Walcom Group warns it is in big trouble. Get out now!

Published 387 days ago

This morning ShareProphets AIM-China Filthy Forty play Walcom Group (WALG) issued a trading statement. Given that its interims are due by tomorrow, that does not look good – indeed, I wonder if the numbers will not be forthcoming and a suspension will follow.

Advanced Oncotherapy – FY17 numbers, cash comes in but still to need a fundraising

Published 387 days ago

AIM-listed Advanced Oncotherapy (AVO) released its FY17 numbers this morning. Looking through the numbers presented it is clear that the company was running on fumes last December. We are told that the company is in a stronger financial position since 31st December 2017 having secured £33.3m of financing post period end, but I wonder how much stronger?

Crack out the Ouzo at Sheriff of AIM Towers: Fastjet shares crash as potentially terminal cash crises emerges – feck you Citigate

Published 388 days ago

I guess the journalist smearing bastards at Citigate Dewe Rogerson might be about to lose another retainer. Their response to my probing of the financial woes of their poxy client FastJet (FJET) was to threaten and smear me. Fuck you Citigate. Now Fastjet has ‘fessed to just how grim things are. It could be tits up time by the weekend. Crack out the ouzo, let’s celebrate. I shed no tears for a company that stands by the actions of scum like Citigate. And I warned shareholders often enough what financial fate lay in store for FastJet.

Rosslyn Data: profits warning x2, cash crunch, misleading RNS's, wrecked balance sheet – what is not to like?

Published 389 days ago

Oh for the days when Rosslyn Data was run by that colourful chap who seemed embarrassed about his career in pornography. These days a boring bean counter is at the helm but the company is still a dog serving up a double profits warning topped with a meagre dose of jam tomorrow today. The balance sheet is a total wreck and surely another bailout placing is needed.

Afriag moves into medicinal cannabis: has the board been on it already?

Published 389 days ago

Welcome to the strange and wonderful world of NEX-listed (and ex-AIM) Afriag (AFRI). Last night at no-one-is-watching o’clock (5.37pm) a very strange missive emanated from the company, which seems to have left a funny smell lingering in its wake. What’ve they been smoking?

Tern – InVMA Contract news…or is it news at all? Still a sell.

Published 389 days ago

AIM-listed Tern (TERN) has announced news of a contract for investee InVMA. Goodie, goodie – so the shares are a buy? Er…

5 Slam-dunk sells for 2018 – will we see a casualty this week as results deadlines fall due?

Published 390 days ago

So far my 5 sells for 2018 have offered mixed results, although the average performance as at the end of May was -15%. As we approach the end of June we have results due: might we see a casualty or two?

Tern – DA Security Blueprint, but still no numbers. Still a sell.

Published 390 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) announced on Friday that investee Device Authority’s (DA) strategic partnership with Thales has developed to a healthcare IoT security blueprint. We are told it represents a significant milestone, but once again there are no numbers. What is the profit split between Thales and Device Authority, for example?

Haydale – (almost) no-one-is-watching o’clock holdings in company tells you what you need to know

Published 391 days ago

AIM-listed Haydale offered a terrible trading update the week before last, announced the CEO was moving aside and we know it needs to raise cash. In that context, the ramptastic pre-placing RNS Reach of Tuesday and a sub-£9,000 director’s-wife’s buy announced on Wednesday would appear to need taking with a large pinch of salt. Last night, at 4.20pm, however, we learnt that Legal & General had been selling.

Exclusive: The MySquar boss and his private company and the $8.5m fraud law suit revealed

Published 393 days ago

Below I republish a legal printout from Singapore where four days of Court time has been reserved for MySquar (MYSQ) boss Eric Schaer and his Rising Dragon company ( which is and has always been involved with MySquar as a loan provider) as they stand accused of fraud from a party claiming back $8,750,770 – a lot of dosh. It gets worse.

EXCLUSIVE: Is Peter Young of Independent Oil & Gas Britain’s greatest share trader or an insider dealer? You decide with Winnileaks

Published 393 days ago

Peter Young was the co founder of Independent Oil & Gas (IOG) and until March of this year sat on its board. He is still its “head of Business Origination.” He, and his wife Fiona who works for charity Social Enterprise UK, are either the UK’s greatest living share traders or just plain insider dealers.  The stock in question is Rock Rose Energy (RRE) and I merely print a timeline of phone calls and emails and, as Peter Cook’s version of Judge Cantley in the Jeremy Thorpe trial would put it, “then invite you, ladies and gentlemen of the jury, to go away and consider carefully why these two fine upstanding individuals are not guilty of anything at all but should do themselves a favour and become professional day traders.”

Yet another AIM IPO disaster: Ethernity

Published 394 days ago

On 29 June last year Israeli tech-company Ethernity (ENET) joined the AIM Casino at 140p. Today the shares sit at just 30.5p after a profit warning and dire results yesterday. What’s not to like?

Haydale - when director buying says sell

Published 394 days ago

Yesterday afternoon, AIM-listed Haydale (HAYD) announced a buy by the wife of one of the NEDs. That should be good news, but I see it as bad news - especially as we all know the company needs to get a placing away and has just announced a crap trading update.

Haydale: “Strong Commercial Progress”? No - Red Flags ahoy, it’s a pre-placing ramp.

Published 396 days ago

AIM-listed Haydale (HAYD) has offered the market an RNS this morning describing “Strong Commercial Progress”. Bearing in mind the profit warning of last week, and the inevitability of another bailout placing one wonders if this marks the appearance of pastures new in the distance, or whether it is just a pre-placing ramp.

Tern – share options exercised. Do the insiders know something?

Published 397 days ago

Share options are usually issued to company directors and others to incentivise them to do a good job – the idea being that if they do a good job the shares go up and everyone is happy. This morning AIM-listed Tern plc (TERN) announced that an employee of an investee company had exercised 100,000 options at 8.5p. But as far as I can make out, those options don’t lapse until 2027 – so why exercise them now?

Stuttard’s Septic Seven – where are they now?

Published 397 days ago

I thought I would do an update on Stuttard’s Septic Seven – a portfolio carefully selected for Marcus Stuttard, the head of AIM for him to invest his cash in to demonstrate his utmost confidence in the regulation of the system he oversees as the Sham Sheriff. The members were all companies we had Red Flagged here on ShareProphets – but not to worry, because no action had been taken and investors were still free to lose (oops, sorry) invest their cash in those shares. It is some nine-ish months since I looked at this portfolio. I wonder what has changed?

Ariana – Kizilcukur news, still a buy

Published 401 days ago

AIM-listed Turkish gold play Ariana (AAU) has announced news of work at Kizilcukur, its wholly owned gold prospect 22km (but 50km by road) from its JV Kiziltepe mine. It is all very encouraging, if relatively minor.

Sosandar: flip-flop, it’s a buy again!

Published 401 days ago

No doubt I shall be held up as a joke for this, but AIM-listed Sosandar (SOS) is a buy again, in my book. So am I flop-flopping? Er, no. I decided I would pay up to 20p. The shares went through that mark so they were a hold. Now they are down to 19.15p, so they are a buy again.

Haydale – disappointing sales, CEO steps aside. Oh, and surely a placing on the way. Timber….

Published 401 days ago

I previously looked at AIM-listed Haydale (HAYD) last October (HERE), concluding It may be a great business in the making, but the lack of visibility of earnings (just £6 million over the next 3.5 years) is too thin – profits seem an awfully long way away and the carefully crafted obfuscation in the trading statement makes me steer a wide berth…. Today we got a warning that sales have been disappointing, the CEO stepping aside and cash sitting at £5.6 million. Given that it raised £9.3 million last October (at a 32% discount) one has to wonder how long it will be before the tin is rattled again.

Tern issues a speeding ticket. SELL!!

Published 401 days ago

Call me mad, but if I were truly part of the Global Shorting Conspiracy I would now be shorting AIM-listed Tern plc (TERN). Having stated I wouldn’t short Tern because a price can go twice as bonkers as it is already, I fancy the time has come for reality to set it. Even Tern has issued a statement saying its own board knows of no reason for the continued rise in its share price. And just for good measure, Tern tells us its cash balance sits at £1.49 million – so I have been bang on the money (and it needs yet another placing).

Tern – another loan to cash-strapped Device Authority, previous repayments kicked into long grass

Published 404 days ago

AIM-listed Tern plc (TERN) has raced further ahead to a stunning 34p last seen. Well done to shareholders, and a Eurovision nul points to me. But I see no reason to change my bearish stance: the shares may have raced ahead, but this morning Tern announced another bail-out loan to investee company Device Authority and pushed back the repayment on its previous loans by another three months. We also had a Statement re Share Price Movement last Friday: the last ones we had didn’t play out at all well, did they!

Quindell – KPMG and senior partner William Smith fined by FRC for failings – but not enough, lessons not learned

Published 404 days ago

For its 2013 financial year, the fraud Quindell (QPP) switched its auditors from RSM Tenon – already fined by the Financial Reporting Council as a direct result of my work – to KPMG. But unusually for a firm claiming to be so large it chose the small Southampton office headed up by Senior partner William Smith to check its books.

Karelian Diamonds – 500k placing at 4.5p: it’s not enough – when’s the next placing? SELL.

Published 404 days ago

AIM-listed Karelian Diamonds has, as I predicted HERE, HERE and HERE, announced a placing to raise £500,000 before costs. At 4.5p, that is a discount of just over 30% to last Friday’s closing mid-price. Ouch! When I first commented on the lack of cash last November, the shares were 0.375p (mid) before they were consolidated (so they were 9.375p in today’s money): I think that means it’s time for an ouzo or two over at Deputy Sheriff Towers!

Filthy Forty China New Energy – a selective buyback?

Published 404 days ago

On 27 December 2017, ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) announced an EGM to allow it to buy up to 20% of its shares back. The EGM duly passed the relevant resolutions on 17 January 2018. So how many shares has it bought back?

UK Investor Show tip update: Sosandar – stance downgrade

Published 406 days ago

I’m changing my stance on AIM-listed Sosandar (SOS). This is not because the company has done anything wrong, or that events have gone against it. Nor is it any fundamental reassessment of the company. No, it is just that the shares are well up since I tipped it and whilst it could be a buy still, I’d like to see updates on current trading before saying buy now.

Frontera cant repay death spiral debt so extends it - at a cost and it still has no cash

Published 408 days ago

I wonder how the whore blogger, Fat Bastard himself, Mr Malcolm Graham Wood will explain this away as good news. After all that is what Frontera (FRR) pay him for. In essence Frontera has no cash, is burning cash and had to repay $2.891 million to death spiral provider Yorkville on 16 June. Problemo! 

Minoan: more delays, more confetti, adviser options. What’s not to like?

Published 409 days ago

 

AIM-listed Minoan has updated the market this morning on some important matters, some trivial matters, and hasn’t mentioned another (why not?). I’m not overly-impressed, but does it change my “buy” stance?

Sosandar – UK Investor Show tip update: still a BUY

Published 412 days ago

AIM-listed Adam Reynolds float Sosandar (SOS) has been having quite a ride since I first commented on it following this year’s UK Investor Show at 12p to buy and tipped it at 13p – they are now up to 19p to buy so I guess that’s a 50% profit. I bought in at just over 15p and nabbed a small handful more on Friday at 18.46p.

Tern: D-day (or is it C- or E-day?) approaches for Device Authority

Published 412 days ago

AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has an interesting date in its diary at the end of this month, for on 30 June its recent loans to investee company Device Authority must be converted into DA stock or repaid (at 300% of principal!) Given the scale of the cash-crisis across the portfolio at FY17 (see HERE) it seems unlikely to be repaid, so what happens if/when the loan is converted, and why is it a problem for Tern?

Rurelec – FY17 numbers, sale of assets, Auditor resigns. Squeaky bum time!

Published 413 days ago

AIM-listed Rurelec (RUR) has released its audited FY17 numbers this morning. Once again we see losses (£5.8 million vs £9.3 million FY16) and the cash was down to just £163,000. We are told liquidity was a major issue for the Group in 2017 – you bet! We also see the auditor resigned – more on that below – and a previously unreported asset sale which leaves me rather puzzled. Finally, we are told there was no qualification of 2017 accounts which sounds great, but that was not quite all it seemed at first sight.

Ariana – resource upgrade at Kepez, still a buy

Published 414 days ago

AIM-listed Turkish gold miner Ariana (AAU) yesterday announced a resource upgrade at its Kepez prospect, which forms part of the Red Rabbit joint venture which is producing gold from its Kiziltepe mine. 

Advanced Oncotherapy – hands up who knew Bracknor still had death spiral loan notes!

Published 415 days ago

AIM-listed Advanced Oncotherapy (AVO) announced this morning that Bracknor, the death spiral funder, still had convertible loan notes to swap for shares. This, despite the RNS of 19 July 2017 telling us that the Company does not intend to use the Bracknor facility in the future. As part of these arrangements the Company will issue 7 million warrants to Bracknor. These warrants are exercisable at 25p and may be exercised at any time over the next five years. Anyone would have thought that was the end of the matter. Apparently not.

Big Sofa – Eridge (formerly New World) part converts, part takes repayment of loans

Published 415 days ago

I hold shares in both Eridge (the re-named and redomiciled New World Oil and Gas (NEW) which was booted off the Casino following the most extraordinary run of events) and in AIM-listed Big Sofa (BST). I was therefore wondering what was going to happen to the convertible loan which Eridge held from the days when it was going to be the vehicle into which the Big Sofa was injected before a few things came to light which eventually saw that fine firm of Beaumont Cornish resign and run for the hills as Nomad in one final two-fingered salute to (then) New World’s shareholders.

Filthy Forty and banished from AIM, Aquatic Foods NED’s make a few admissions: ShareProphets was right

Published 416 days ago

On 28 December 2017, ShareProphets AIM-China Filthy Forty play Aquatic Foods Group issued an RNS stating that it couldn’t publish accounts for 2016 and the shares would be booted off AIM the following morning. Of course, there’s a lot more to that and ShareProphets had been predicting the demise for months. Now the patsy NEDs have issued a statement and it is clear that ShareProphets was right all along.

Julie Meyer Video - The Love of Money is the Root of all evil

Published 417 days ago

"For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows." Timothy 6:10 ( King James Version Natch). So in that vein who said "I remember being very obsessed with having no money but if you are good money will find you." To find out watch this classic video from 2011

5 Slam-dunk Sells for 2018 – May update

Published 419 days ago

I suggested a portfolio of five stocks to sell – or just avoid – for 2018 during the ShareProphets tipfest. Those stocks were Tern (TERN), UK Oil and Gas (UKOG), Frontera (FRR), Telit ((TCM) and Milestone Group (MSG) – since renamed Catenae (CTEA). Tern was subsequently withdrawn when the fundamentals changed (the death spiral was terminated), and Inspirit (INSP) brought in in its place. Here is the May update.

Red Flags at Night Bank Holiday Special: AIM-China Filthy Forty Origo Partners

Published 419 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued a stonking warning on Friday night, at 5.30pm going into a bank holiday. Talk about no-one-is-watching o’clock. I previously warned in the light of a previous warning (HERE) that the question was whether the asset realisations will generate anything at all for shareholders after holders of the Zeros (whose money appears not to be contributing to OAL’s new fees) have been paid off. Last night’s RNS suggests the answer may well be nothing.

Tom Winnifrith Bearcast - it is Ouzo O'Clock! Folli Follie suspended

Published 421 days ago

Hooray. After this week's doorstepping and podcast special and the work back in Bristol this is a great day. I suspect it is game over and discuss the probable demise of Folli Follie. Never buy a stock on a PE of 1. Elsewhere I look at rumours concerning Nomad Northland, at Echo Energy (ECHO), the fraud MySquar (MYSQ), my letter to Julie Meyer HERE, Sound Energy (SOU), Westminster Group (WSG) - with its revolting chairman ex Tory MP Tony Baldry - and Frontera (FRR) and its latest pre placing ramp. Now come on chaps, if you enjoy bearcast - and I know 1000 of you do every day - please donate £10 NOW to the Woodlarks charity walk - HERE

Victoria Oil and Gas – how to deliver bad news: well done!

Published 422 days ago

I previously covered AIM-listed Victoria Oil and  Gas (VOG) with reference to an after-hours warning issued after market close, but during the auction. It looked terrible, but there were mitigating factors which looked to have combined in an unfortunate fashion. This morning Victoria has issued a Q1 trading update. It is not pretty, but I have to take my hat off to the company this morning, for it gives full numbers and investors can make a rational decision.

Magnolia Shocker - to delist from the AIM casino - why is the board not being sacked?

Published 423 days ago

I have repeatedly warned against investing in Gavin Burnell of Globo infamy creation Magnolia Petroleum (MAGP). Drowning in debt, burning cash and paying vast sums to CEO Rita Whittingham and her ghastly relatives on the payroll this is a dog. Today the company says that it is going to try and sell some of its (crap) assets and to save £100,000 it will delist from AIM. It could save far more by firing its deadwood staff. The shares have plunged 65% and are now just 0.6p to sell. But you should sell. SP Angel guru, the City's No 1 oil analyst Zac "The Knife" Phillips sums up this farce perfectly.

Bowleven – first spud at Etinde

Published 424 days ago

News out this morning from AIM-listed Bowleven (BLVN) is that the IM-6 appraisal well at Etinde, Cameroon, has been spudded - seemingly ahead of schedule (we were told the end of May). Operations are expected to take around 100 days, with Schlumberger providing most of the drilling services.

Tern – more partnerships for DA, still no numbers

Published 424 days ago

Shares in AIM-listed jam-tomorrow investment company Tern plc (TERN) continue to rise. Today they are up by 3.3% on the back of yet another partnership announcement on behalf of investee company Device Authority, to a whopping 23.5p. But once again, whilst the RNS offers flowery language, there are no numbers.

Frontera – flow rates offered but Waseem reckons it is “worthless”

Published 424 days ago

AIM-listed, Houston headquartered, Cayman Islands registered oil/gas play Frontera (FRR), whose operations are in Georgia (and if that’s not a Red Flag….) has confirmed gas flow rates from its Dino-2 well in the Taribani complex. It flowed at 315 bbls per day – well, at least part of one day. Apparently that’s commercial, but I doubt shareholders can count their winnings just yet.

Standard Listed AIQ – returns from suspension again: no explanation offered by anyone!

Published 425 days ago

Amazingly, the cash shell that is Standard Listed AIQ (AIQ) – with somewhere around 8-10p per share of cash and nothing else – has again returned from suspension this morning. The shares, having peaked (ahead of the last suspension) at 150p to buy are now in free fall, sitting on a spread (last seen) of 80p (to sell) to 130p (to buy). I have no hesitation in recommending a sell – there is, after all, only 8-10p of value here. What does surprise me is that there has been no official comment whatsoever from the company – or, indeed, anyone else.

Tern – is the CEO a Phoenix from the ashes?

Published 427 days ago

I have wondered why a former president/CEO/chairman of Pheonix Technologies would take a board seat at AIM-listed Tern plc (TERN) for quite some time. In fact, since his appointment at Tern I have wondered what Al Sisto was doing there with such a high-flying career. What on earth would someone with a CV like that be doing as a director of a small AIM-listed tiddler? Of course, since his appointment he has moved up the ladder and is now CEO and filled in as an interim Chairman too. But an ex-boss of mighty Phoenix?

Sosandar – UK Investor Show Tip Update, Trading update and a couple of numbers: still a BUY

Published 428 days ago

AIM-listed online women’s clothing play Sosandar (SOS) from the Adam Reynolds stable has announced its trading update for y/e 31 March 2018. This was my pick of the companies I saw and chatted to at the UK Investor Show, and so far the shares have performed admirably. Now it has produced a cracker of a trading update and I still rate the shares a buy, but it certainly is not a “widows and orphans” stock!

Tern – detailed look at FY17 accounts reveals a monster cash crisis: it is no better now

Published 430 days ago

I said the other day that following the £1.75 million placing at 18.5p (a 30% discount) last week it looked as though Tern plc (TERN) had enough cash to see it through for the time being. But I’ve been looking through the FY17 Annual Report and now I’m not so sure. In fact I am sure it does not have enough cash. Its portfolio of investee companies looks a shambles and it seems that Tern has been paying some of its investees’ bills. Quite how auditor Grant Thornton thought the company fit to pass as a Going Concern is a mystery to me.

Bowleven – game on as drilling rig arrives at Etinde

Published 435 days ago

AIM-listed Bowleven (BLVN) has announced the arrival of the Topaz driller rig in Cameroon waters. The rig is contracted for 150 days to perform the two-well appraisal drilling campaign on the Etinde asset, with first spud due by the end of this month.

Advanced Oncotherapy – lies about Blackfinch deal, what are the finances like?

Published 435 days ago

AIM-listed Advanced Oncotherapy finally got around to updating the market over its Blackfinch loan which matured on 24 March and was secured on its Harley Street premises. But it seems that the company can’t tell the truth!

Tom Winnifrith Bearcast: It is not just Stormy Daniels that Donald Trump has screwed - step forward ex Tory MP Tony Baldry and Westminster Group

Published 435 days ago

I start with the latest developments on Julie Meyer and hint at what is coming next from myself and also from John Galt. Julie you ain't seen nothing yet. Praise be the Lord.  Then it is onto Westminster Group (WSG) and someone almost as loathsome as Meyer, that is to say ex Tory MP fat Tony Baldry. Then I look at Eden Reseearch (EDEN) which fat Tone knows well, Pantheon Resources (PANR), Advanced Oncotherapy (AVO), the tossers at the FT, Jubilee Metals (JLP) and other Beuafort Securities victims and Interserve (IRV) and the tools at the FCA.

Frontera - even whore blogger Malcolm "fat bastard" Graham Wood struggles to find positives

Published 435 days ago

As we know, Frontera Resources (FRR) is almost out of cash which makes the ramptastic presentation held for mug punters on May 9th even more sordid. Among those attending was the blogger Fat Bastard who reports back in his iii column without, natch, declaring that he is paid to write shite by companies such as Frontera. How does iii's joke compliance department tolerate this I wonder? After picking up his brown envelope, Fat Bastard opines:

Waseem spanks Frontera after dismal City rampfest - it's placing ahoy

Published 436 days ago

This is covered in bearcast but I can't disagree with a word that the great bear raider and professional Northern git Waseem Shakoor says about Frontera (FRR) ina BB post today. For a wider audience, Waseem opines:

Ariana – Q1 Kiziltepe quarterly report; still a buy

Published 436 days ago

AIM-listed Ariana Resources (AAU) released its quarterly report this morning for its joint venture mine at Kiziltepe in western Turkey. On the face of it the numbers were again good, although we had prior warning of that back on 16 April when the company released a preliminary production report for Q1. Today’s report fleshed that out a little.

Advanced Oncotherapy – UK site agreement, but what of the Blackfinch loan?

Published 438 days ago

As we know from AIM-listed UK Oil and Gas (UKOG), the best thing to do when faced with an awkward question is to move the goal posts. And so this morning we see AIM-listed Advanced Oncotherapy (AVO), rather than ‘fess up over its overdue loan from Blackfinch which is secured on its Harley Street premises, telling us that it has signed a lease with the UK Government’s Science and Technology Facilities Council to establish a UK testing site for its LIGHT (proton therapy technology) system. I wonder what Advanced is going to pay with!

Frontera Resources - another bullshit announcement, ramptastic City presentation tomorrow - any more confetti vicar?

Published 438 days ago

Another day and another bullshit announcement from the company whose main business is issuing new shares while claiming to be an oil explorer, Frontera Resources (FRR). the timing is handy for Frontera is hosting a City presentation for mug punter Private Investors tomorrow. It all smells terribly as if more confetti is on the way. Let's start with the bullshit RNS.

Tern – £1.75m placing to single institutional investor….but who?

Published 438 days ago

I have to hand it to Al Sisto, CEO of AIM-listed Tern plc (TERN). Down at 2p not so long ago, the shares are riding high at 26p and now he’s got the placing I have been predicting away at 18.5p for £1.75 million. It kind of begs the question of what on earth the company was doing with a death spiral in place before the latest lift-off commenced. But a placing 18.5p with the shares having closed last week at 26.6p is quite a discount – 30%. And who is this single institutional shareholder?

Five Slam-Dunk shares to sell for 2018 – April update

Published 441 days ago

I offered a portfolio of shares to sell for 2018 during the ShareProphets Christmas Tipfest – let’s see how it is doing (albeit a few days late). Into the original portfolio went Frontera (FRR), Milestone Group (MSG), Tern (TERN), UK Oil and Gas (UKOG) and Telit (TCM). Subsequently Milestone changed its name to Catenae (CTEA) and Tern dropped its death spiral so was replaced by Inspirit (INSP).

UPDATED/CORRECTED: Inspirit – Issue of Convertibles RNS = share capital reorganisation

Published 441 days ago

We have been calling out AIM-listed Inspirit Energy Holdings (INSP) here on ShareProphets for an age: we reckoned the boiler room had no cash and its shares were below nominal. On Friday, at 2.54pm, as the market was getting ready for a nice sunny bank holiday weekend (talk about no-one-is-watching o'clock), up popped an RNS entitled “Issue of Convertible Loan Notes”. It is only after reading the whole RNS that you realise that they are proposing to split the ordinary shares of 0.1p into one ordinary share of just 0.001p and a deferred share (with no rights) of 0.099p. Oh, and incidentally, where is the Confirmation Statement on Companies House, which was due on 30 March?

Advanced Oncotherapy – have I been raiding Tom Winnfrith’s magic mushrooms, or has someone else?

Published 442 days ago

AIM-listed Advanced Oncotherapy (AVO) has still not updated the market over its Blackfinch loan which was due to expire at the end of March, a loan which was secured on the company’s Harley Street premises. I also have doubts (still not answered) over the cash from China. But on re-reading through the note from Goetzpartners (which sent Advanced stock much higher on publication) I wonder if I have inadvertently been taking some of Tom Winnifrith’s mushrooms.

Bowleven – new “interim” non-exec chair - am I banking gains?

Published 442 days ago

Having seen off the previous incumbent, AIM-listed Bowleven (BLVN) had indicated it was looking for a new Chairman. Yesterday morning it announced the internal promotion of NED Matt McDonald as an interim non-exec chairman. This all adds to my theory that Bowleven is not long for this world.

Telit & that shocking Window Dressing of Debt - a reader assists

Published 444 days ago

I asked the question yesterday whether the net debt figure claimed by Telit (TCM) as at 31 December was representative. If so why have so much expensive debt but also so much cash yielding bugger all. A reader helps - this is window dressing.

Monty Python explains the true value of Andalas & the 4 questions it must answer NOW!

Published 444 days ago

I was told last night by the PR spinner to Andalas (ADL) that I should be asking about its new focus in the North Sea, how it will build value, yadda, yadda, yadda. FFS This company has no assets of value, it is burning stacks of cash every day and has NEGATIVE Net current assets of up to $2 million, even after the £600,000 placing on Monday - what don't you understand about the words "FECKING INSOLVENT" darling? I leave it to Monty Python to explain the true state of Andalas below. Meanwhile here are 4 Burning questions it is not answering so I - and Brokerman Dan - will keep asking.

Bowleven – share price advancing again

Published 445 days ago

I offered up AIM-listed Bowleven (BLVN) as one of my two ideas for 2018 at 31-31p and I see that the shares have headed north again. What to do?

Reader Poll: Who sent Tom Winnifrith a fascist lawyers letter last night?

Published 445 days ago

Oh well I had not had a take down lawyers letter for at least a few weeks so welcome back to England Mr Winnifrith.  The deadline for voting is midnight Wednesday as I shall be responding on Thursday. So who do you think wants to gag the Sheriff of AIM? Vote now:

Advanced Oncotherapy – now we know why the shares are up: prostitution pays!

Published 446 days ago

So after my piece HERE wondering why AIM-listed Advanced Oncotherapy (AVO) was up 20-odd per cent it turns out that a research note was put out on the RNS system. The research note was from an outfit called Goetzpartners Securities Limited, which claims to be a leading pan-European investment bank and research firm. Right…. So who paid for this research, and is it worth the paper it is written on?

Exclusive: Pathfinder Minerals - white knight appears - will Sir Henry Bellend MP do the decent thing and walk?

Published 446 days ago

As Richard Jennings at Align prepares to respond to the woeful EGM defence of Pathfinder Minerals (PFP) incumbents serial trougher Sir Henry Bellingham MP of 3DM infamy and Nick "Not for the many but for the" Trew, a new player has emerged.

Tern – Waseem Shakoor on the warpath

Published 449 days ago

AIM-listed Tern (TERN) has seen its shares absolutely rocket – they are almost ten times the low-point notched up whilst the death spiral (with an un-named funder) was running. Meanwhile I have been called lots of names by some nice person on twitter who seems to think I am calling the shares short. A pity they are not a ShareProphets subscriber….

EXPLOSIVE Video from UK Investor Show 2018 - Tom Winnifrith exposes the Neil Woodford myth on the main stage

Published 449 days ago

The room was packed and I did not hold back one iota. I was nervous ahead of this talk as I knew that it would get a full house and, despite the intervention of my 18 month old son Joshua, I think it flowed well. It is no holds barred stuff on Britain's most conceited fund manager and explains why he is in very deep trouble indeed.

Explosive UK Investor Show Video: Tom Winnifrith chapter & verse on why AIM bad boy MySquar is a 100% FRAUD

Published 449 days ago

I start at the beginning which is the early career of Eric Schaer, the fraudster in chief, and end at the end which will be insolvency and, I hope, jail time for Eric and the gang. This is chapter and verse on why MySquar (MYSQ) is a 100% fraud and why the employees of Nomad SP Angel are gutless, morally bankrupt, crony capitalists for continuing to act for it. This is no holds barred material. Enjoy.

Minoan - grrrr, placing at 6p

Published 449 days ago

OK, it is only half a bernie but shares in Minoan had been doing well of late. Now it has done a placing at 6p (the shares were 8p yesterday), welcoming new joint broker Cornhill Capital to the Minoan Team. Apparently this is all good news and Christopher Eagleton is pleased to have raised the funds. So that's alright then. Never mind the 25% discount....

Advanced Oncotherapy - no response to my questions but shares rocket 22% today. Why?

Published 450 days ago

As yet AIM-listed Advanced Oncotherapy (AVO) is yet to answer my questions about the Blackfinch loan which is secured on its Harley Street premises and which was due to expire back on 24 March. It has also ignored my questions about the Chinese funding from Yantai Cipu as to whether any funds  have actually arrived with Advanced. These two questions seem to me to be pertinent to Advanced's very survival, but all we have had is a wall of silence. You would have thought the market would get jittery, but out of the blue today its shares are up a whopping 22% (last seen).

9 UK Investor Show share tips for 2018 - No 6 Nigel Somerville

Published 450 days ago

This week all of the team will tip 1 stock - long or short - which presented at UK Investor on Saturday or was mentioned in a presentation. For paying customers only, sixth up it is Nigel Somerville.

Rurelec – oh dear, more bad news from Argentina

Published 450 days ago

AIM-listed Rurelec (RUR) released what appears to be a mixed bag of news this morning, although on closer reading it looks all bad. The board has its work cut out once again as liquidity appears to be heavily constrained and there is limited certainty over further debt repayments. In other words, it is yet again running very close to the wire: will this latest crisis be enough to finish off the company?

UK Oil & Gas blames Tom Winnifrith "leaking" for decision to use a death spiral - bollocks!

Published 451 days ago

The day, that after 28 years as a journalist,, I take lectures on my vocation from a lying toe-rag like UK Oil & Gas (UKOG) boss Steve Sanderson is the day I quit. Lyin' Steve attacked me at his company's AGM and blames me for the death spiral which - along with drilling disasters - has cratered his company's share price.

Advanced Oncotherapy: …and now for the eleventh time!

Published 453 days ago

Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the eleventh time. They are serious questions and with the wrong answers I would struggle to see how the company is solvent. But Advanced continues to ignore the questions. So here we go again….

A day at UK Investor and my pick from the show

Published 453 days ago

I went with a shopping list of companies I wanted to speak to, and to find something which might prove a worthwhile investment – that, alongside chairing one session, a cameo appearance in another, a meeting with the Global Shorting Conspiracy and a bit of time on the ShareProphets stand. My marks out of ten were about 6 or 7 – I didn’t get to see all the companies I wanted to but I think I gleaned some useful information. And I have my tip – although it is not a widows and orphans pick!

Advanced Oncotherapy: …and now for the tenth time!

Published 454 days ago

And so yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the tenth time as we head into double figures.

Advanced Oncotherapy: …and now for the ninth time!

Published 456 days ago

Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the ninth time…..here we go again:

AIM-China Filthy Forty Origo warns on NAV – ouzo time as shareholders brace for another spanking

Published 456 days ago

ShareProphets AIM-China Filthy Forty investment company Origo Partners (OPP) has updated the market this morning in a series of announcements which look to amount to a complete dog’s breakfast as far as shareholders are concerned. There is a new Nomad which looks to me to have been appointed in suspicious circumstances, there are proposals to change the remuneration of the company’s grotesquely overpaid advisors….and expected realisation amounts will be significantly less than the Company's last reported net asset value. What’s not to like!

Nighthawk - bank calls default on loans - wa wa wa wipeout on the way, company fesses up

Published 456 days ago

Oh dear the fat lady needs to get on stage quick. I have been warning you that Nighthawk (HAWK) was worthless toast for ages but as ever the bulletin board savants knew better. Well folks now the company has fessed up. Once again the scoreboard reads: The Sheriff of AIM 5 Morons 0.

Advanced Oncotherapy: …and now for the eighth time!

Published 457 days ago

Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the seventh time. At this rate Jeremy Paxman’s score of 12 (against Michael Howard) is in danger. I have had it pointed out to me that Paxo asked the questions face to face, and in that regard I can’t match him. But at least (now) Lord Howard had to reply – even if he evaded the actual question. Anyway, here we go again:

Exclusive - more shocking revelations about how Beaufort clients are having their savings pissed away by PWC

Published 457 days ago

Today I have a new exclusive on the shambles that is the administration of Beaufort Securities where 14,000 clients are having their savings pissed away by fat cat administrators PWC. This will shock you.

Stinging Letter from Richard Jennings to Sir Henry Bellingham MP of 3DM infamy re Pathfinder Minerals

Published 457 days ago

I do not always agree with Richard Jennings of Align Research. In fact he can be 100% wrong on certain matters. But on Pathfinder Minerals (PFP) he is bang on the money in trying to oust its useless board. In that battle he has today writting to NED Sir Henry Bellend MP of 3DM infamy. Over to Jennings who flags up a new dirty track Bellend and £170,000 a year CEO Nick "Not for the Many but for the " Trew are trying to play:: 

Mr Bellingham

Advanced Oncotherapy - for the seventh time!

Published 457 days ago

Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the seventh time. At this rate Jeremy Paxman’s score of 12 (against Michael Howard) is in danger.

Amur - Pathetic spoof

Published 458 days ago

After 16 years of missing targets and ongoing dilution, AIM listed Amur Minerals (AMC) is still nowhere near actually building its mine in Eastern Russia and still does not have a single institutional shareholder. The only folks who still believe in this stock are mug punter private investors and that means the only funding available is via bucket shops or death spirals. Right now it is the latter and hence the shares are in a steady retreat - right now just 4.5p to sell. At this rate, losing 1p a month, the shares will be trending towards zero by the summer so its time to panic and go into mega spoof.

Advanced Oncotherapy: …and for the sixth time

Published 459 days ago

Another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again. What is happening with the Blackfinch loan which had a 12 month term starting on 24 March last year, a loan which was secured on the company’s Harley Street premises? And has the company actually received any cash at all from its white knight saviour Yantai Cipu in China?

MySquar death spiral accelerating - morons might expect a TR1, I'm not

Published 459 days ago

Having said that it never needed to raise money again when it raised £1.2 million as it committed securities fraud on July 31 2017, MySquar (MYSQ) announced a £2.11 million death spiral deal on March 7 2018. The first £200,000 loan note conversion was announced on April 12 at 1.31p.

Frontera Resources - whore blogger Fat Bastard does his master's bidding & talks shit again

Published 459 days ago

Who would have thought it? Frontera Resources (FRR) is forced to reveal that it has a major problem in Georgia after trying to mislead investors that it did not. So what to do? Call in the whore blogger, Fat Bastard Malcolm Graham Wood to claim that nothing is wrong after all. Natch he does not disclose that he is paid to write this shite.

Advanced Oncotherapy – asking for the fifth time, and another question

Published 460 days ago

This really is getting a bore. For the fifth time, I ask what is happening with the Blackfinch loan which had a 12 month term starting on 24 March last year, a loan which was secured on AIM-listed Advanced Oncotherapy’s (AVO) Harley Street premises. And for a fifth time I am asking if the company has actually received any cash at all from its white knight saviour Yantai Cipu in China. But first, there is a question raised by Drunken Sailor.

Ariana – gold production update, still a buy - do the maths!

Published 460 days ago

AIM-listed Ariana Resources (AAU) served up a gold production update for its first quarter of 2018 (to the end of March). This is not the quarterly report for the period, which we are told is due in early May, so it is a little light on details but the production news is excellent.

Bulletin Board & Twitter moron of the week - yes its a Frontera shareholder

Published 460 days ago

Having exposed all the big stockmarket frauds of the past five years on this website (Quindell, Globo, Cloudtag, MySquar, blinkx, Gulf Keystone, Naibu, Daniel Stewart, Sefton, China Chaintek, Aquatic Foods, Cupid, Avanti and the list goes on and on and on) I never cease to wonder at the stupidity of some folks who invest in such stocks. But Frontera (FRR) shareholders are managing to shock me - truly some of them are the dumbest fucks on this planet.

Looking forward to the UK Investor Show – my shopping list

Published 460 days ago

Less than a week to go to the UK Investor Show and it promises to be far and away the best yet. If you’ve not booked a ticket you’d better hurry up – they are running out fast. Lob in the promo code SP10 and you’ll get a freebie investor class ticket  – you can’t say fairer than that! Looking down the list of companies present, I have already compiled a list of who I want to see and also what I am doing on the day.

Advanced Oncotherapy – first mover in the UK? Er….

Published 460 days ago

My thanks to two eagle-eyed ShareProphets readers who have posted in the comments sections of my pieces asking about AIM-listed Advanced Oncotherapy (AVO) and its funding from Yantai Cipu in China, and the now expired, secured (on Advanced’s Harley Street premises), Blackfinch loan. We’ve still not heard a thing about either which is rapidly drawing me to a conclusion as to the answers. Not to worry: I’ll ask (for the fourth time) again tomorrow. But, with big hat-tips to Drunken Sailor and Daniel Victor, it seems that Advanced isn’t even getting over the line at Harley Street before two other proton therapy centres (one of which is up and running already) come on stream. It seems that first mover advantage has already been lost.

Advanced Oncotherapy – still no answer to my questions, but does the market know something I don’t?

Published 462 days ago

I have asked the same questions of AIM-listed Advanced Oncotherapy (AVO) twice before but there has been nothing forthcoming from Advanced Towers. Here we go again, on the day that marks three weeks from the end of Advanced’s loan from Blackfinch, a loan which is secured on its Harley Street premises and a loan which has not yet been announced to have been paid back. Advanced may be coy about answering, but it seems the market has been voting with its feet.

G3 Exploration, formerly Green Dragon Gas, and Greka Drilling - have you heard about the $12.5 million fine, the record falsifying and worse?

Published 463 days ago

Anyone owning shares in G3 Exploration (G3E), the howler formerly known as Green Dragon Gas, or Greka Drilling (GDL) is bonkers given that both companies are in a parlous financial state but also given their track record of swimming through seas of red flags. Remember the bloody dossier? Well here is another massive red flag from the sister company also run by Randeep S Grewal, California based Greka Oil & Gas.

Soaraway Tern explodes higher, but what of value?

Published 465 days ago

Well I’m glad I removed AIM-listed Tern plc (TERN) from my list of slam-dunk sells for 2018 when the company announced it had binned its death spiral, and instead raised cash from a placing. I still don’t think it has enough cash, but apparently the market disagrees and the share have shot massively higher – from a low point of just over 2p in February, 4p by the end of March and now they sit at 9.85p (having peaked at 11.25p). What of the value of the investment?

Pham Dang thank you Ma'Am - CFO at the MySQUAR fraud walks with immediate effect

Published 466 days ago

Even The spawn of Satan, evil PR spinner Damian McCrystal, cannot polish this turd - the wheels are coming off the fraud MySquar in a big way. CFO Pham Dang Hung has quit the company and the board with immediate effect. If you don't see this as a massive red flag you are either blind or just colour blind.

Pantheon Resources ouch & double ouch and more ouch to come

Published 467 days ago

Is there any good news in today's latest 'fess up to a feck up RNS from Pantheon Resources (PANR). Er no... it is bad, badder and just a tad misleading.

Advanced Oncotherapy – what of that Blackfinch loan (which was due on 24 March)?

Published 468 days ago

It is now a week into April, yet AIM-listed Advanced Oncotherapy (AVO) has not updated on its loan from Blackfinch which was due to be repaid – I thought – at the end of March. In fact, it appears that the loan matured on 24 March. Worse, the loan was secured on Advanced’s Harley Street site and, it seems, the equipment earmarked to be installed there. One wonders what would be left if Advanced lost that. Surely a statement is a fortnight overdue as to what is going on?

EXCLUSIVE: Former AIM bad boys BNN - so why did you not tell us that your auditor had walked out while you were listed?

Published 470 days ago

BNN Techology (BNN) listed by uber spiv Darren Mercer was slung off AIM on 12 February after its Nomad quit. A month earlier the two credible NEDs had also walked without saying why. But there is something BNN did not tell us and it is big...

Minoan – FY17 results (a week late…)

Published 470 days ago

AIM-listed Minoan (MIN) is one of my two share suggestions for 2018, and I hold the shares myself. This morning it released its FY results to last October: we had been promised them in March, but clearly the concept of under-promising and over-delivering simply hasn’t landed in this particular boardroom. However, there seems to be progress and although still promising jam-tomorrow, it does look as though the fleet of delivery lorries may be on the way (although from an unknown distance away).

Conviviality - they think it's all over....it is now

Published 471 days ago

If you were in any doubt that AIM-listed (until now) Conviviality (CVR) was toast before today, the RNS released at 11.11am this morning should finally convince you that it really is all over. It has gone to meet its maker, it is a dead duck, it is an ex-company. And it is ouzo o'clock for the Sheriff.

Advanced Oncotherapy – are the wheels coming off the Yantai white knight bailout?

Published 472 days ago

Yesterday AIM-listed Advanced Oncotherapy (AVO) announced that the Long Stop Date for the completion of a Distribution Agreement with Yantai Cipu, already extended to 31 March, had been exceeded but discussions were continuing. This deal also involves the payment of £16.5 million to Advanced and it seems the cash is yet to arrive – indeed I wonder if the £13.5 million subscription cash arrived. That in turn leaves me wondering, yet again, what the cash position at Advanced is – and what about the £5.5 million Blackfinch loan which should have been repaid at the end of March (and is secured)? Are the wheels coming off the white knight rescue? Surely a full statement is needed?

An Open letter to Eric Schaer of MySquar - are you fraudster man or fraudster mouse? ( Will you meet me in battle?)

Published 473 days ago

Via, his PR man - aka the spawn of Satan - I have sent a letter to Eric Schaer the CEO of AIM superfraud MySquar (MYSQ) challenging him to deal in person, face to face with me, on April 21, with the incontrovertible evidence that his company is a fraud.  I write:

Servision updates again and it is even worse news - another Kill for the Sheriff of AIM

Published 477 days ago

AIM-listed Servision (SEV) has updated the market once again regarding its suspension pending clarification of financial position. We had already been told that investors are unlikely to get much (or, indeed, anything at all) but previously a third party had expressed an interest in acquiring Servision Ltd (the operating business) – good(ish) news, but for Servision Ltd having come under the bankruptcy protection of the Israeli court. We were told yesterday that the court rejected an application from Servision plc to pursue a sale. Oh dear.

Inspirit – or insolvent? 2017 Interims

Published 478 days ago

AIM-listed Inspirit Energy (INSP) has released its interim accounts to December 2017. We are told the company is pleased to announce its interims. What there is to be pleased about rather escapes me – the company is drowning in payables and has hardly any cash left (if any at all).

Bowleven Interims: cash is still there, drilling next quarter

Published 478 days ago

AIM-listed Bowleven (BLVN) has this morning released its interims to December 2017. Of note is the huge reduction in administrative expenses and the binning of the deal with AIM-listed Victoria Oil and Gas (VOG) with regard to the Bomono asset in Cameroon.

UK Oil & Gas - tries to polish the Broadford Bridge turd but it is still an (uncommercial) turd

Published 478 days ago

You can't sit on bad news forever. In the end even Lyin Steve Sanderson of UK Oil & Gas (UKOG) needs to fess up and so today we got the much delayed news of flow testing at Broadford Bridge. Natch Lyin' Steve tried to bury the poisonous needle in a haystack of waffle.

EXCLUSIVE: Pathfinder Minerals you can run but you cannot hide - new EGM request submitted

Published 478 days ago

Pathfinder Minerals (PFP) has yet to fess up but it has been served with a new EGM request by Richard Jennings of Align, seeking to oust disgraced trougher CEO Nick "Not for the Many but for the " Trew and Tory Toff NED Sir Henry Bellingham of 3DM infamy.

Conviviality - Reports of Corporate Death premature but only just

Published 478 days ago

Some bears are on the pitch, they think it's all over, it is now - I refer to Conviviality and that is what I expect to be chanting within 24 hours. The game is almost up. At 5.42 PM prompted by reports that it was already in administration from, inter alia, Sky and the Daily Star, Conviviality updated us all on progress. Okay it is not in administration yet ...but it may well be there by tomorrow.

Tern – FY17 numbers: sorry to sound like a broken record, but when's the placing?

Published 479 days ago

AIM-listed investment company Tern plc (TERN) announced its full year numbers for last year. It is not quite the record-breaking speed of previous years, but getting them out before the end of March isn’t a bad effort. However….well, there are the excuses and then there is cash.

EXCLUSIVE: Confidential Letter emerges - Nick Trew of Pathfinder accused of lying to investors (again)

Published 479 days ago

Barely a day goes by when someone does not have a go at Nick "not for the Many but for the "Trew the man who has earned £170,000 a year for running Pathfinder Minerals (PFP) into the ground.

UPDATED: Telit - FCA now investigating - Yes Yosi Fait you are a fecking insider dealer

Published 480 days ago

Telit Communications (TCM) and its advisers, notably PR morons Adrian Duffield and Chantal Woolcock of Instinctif, really are fucktards of the highest order. They have had to correct a statement fessing up to an FCA investigation in a material way which changes its meaning. God help these clowns.

Breaking: Pathfinder's shamed CEO refuses to explain why no EGM as un-needed £200k placing underway

Published 480 days ago

The word on the Street is that embattled Pathfinder Minerals (PFP) CEO Nick "not for the many but the " Trew is, via spiv bucket shop Keith Bayley Rogers trying to raise not £450,000 but just £200,000 at 0.6p. He is struggling to raise even that much because everyone knows he has been offered the same funds at a far less dilutive 1p but has rejected them. This placement is all about securing votes to win an EGM.

Cloudtag's Amit Ben Haim caught lying again - the cheque's in the post (honest!)

Published 480 days ago

Hat tip to reader A for bringing my attention to an industrial tribunal which shows Amit Ben Haim, the CEO of the fraud Cloudtag (CTAG), which was booted off AIM last year, caught lying blatantly. Amit...your pants are on fire.

Anglesey Mining – shares down 18% on no news, why?

Published 480 days ago

Well here’s a blast from the past! I used to hold a few shares in AIM-listed Anglesey Mining (AYM) some years ago. What caught my eye was the 18% share price drop on no news – the last we heard being its interims to September 2017, released back on 30 November 2017 when we were told us that now is the opportune moment to move forward with the development of the Parys Mountain base metal project. Blimey - after all these years! But what with?

Are Bears set to go into the ascendancy, and will gold-bugs be smiling?

Published 481 days ago

A few things seem to be happening all at the same time which, for a bear, look as though markets may be set to reward those of a more negative persuasion. This week saw the Dow sliding below 24,000 again, gold spurted higher to just under $1350, Donald Trump looks set to cause a trade war, the EU and Russia’s Vladimir Putin are at loggerheads and at home it seems bumper pay increases for the public sector, which we can’t afford, are the order of the day. All this against a backdrop of threats to raise interest rates.

Five slam-dunk shares to sell for 2018 – March update

Published 482 days ago

As we approach the end on March it is once again time to look at my portfolio of shares to sell. Of course, it is now down to four after Tern plc (TERN) ditched its death spiral so we’ll need to find a replacement for that one.

Bowleven – tip update, and it’s good news

Published 484 days ago

Shares in my Christmas tip-fest suggestion of AIM-listed Bowleven (BLVN) have had a strong run over the last few days, having notched up a high of 37.6p today, against a tip price of 30-31p. It doesn’t sound much, but you can’t sniff at a gain of 21.3% in three months (even if Wildes won’t get out of bed for that).

Mercantile Ports & Logistics - now about that $835 million claim against your colourful chairman

Published 485 days ago

I have always thought that Mercantile Ports & Logistics (MPL) was utterly uninvestable because its statements via RNS were so often untrue and because its chairman Mr Nikhil Gandhi was er... "incredibly colourful" as you can see in my detailed coverage HERE

UK Oil & Gas - forced into statement - don't these A'holes give a FF about AIM Rules?

Published 485 days ago

At 10.38 AM today I published a photo showing that UK Oil & Gas (UKOG) was clearly stopping drilling at Broadford Bridge.  The company should have issued an RNS this morning to say this was happening but what does Lyin' Steve Sanderson care about timely disclosure of price sensitive information?

Green & Smart - AIM investors robbed again

Published 486 days ago

Green & Smart (GSH) a biogas company from Malaysia is the sort of dog with fleas that has helped to make the AIM Casino the world's most successful growth market. In second place is the Upper Volta bitcoin exchange. Announcements over the past few days are a scandal but, as ever, no heads will roll.

Will anyone at Nomad FinnCap pay a penalty for its part in the massive Constellation AIM fraud?

Published 486 days ago

FinnCap likes to tell us that it is one of London's leading Nomad's. Okay lets overlook the Silverdell scandal where it insisted that it did nothing wrong as the company misled investors who then lost all their money but how about Constellation Healthcare? This may be off your radar as this company delisted from AIM in January 2017. But this is a massive scandal.

Inspirit – all’s quiet: signs of a problem?

Published 486 days ago

I note that things have been very quiet of late over in the boiler room of AIM-listed Inspirit Energy (INSP). Normally that might be seen as a good thing – the company quietly getting on with making shareholders money, and not getting bogged down in ramptastic RNSs. But I wonder if there is a nasty brewing here...

BT – I’m in (blame Chris Bailey!)

Published 488 days ago

Looking down my shopping list for dividend munchers in the wake of our mini-crash (see HERE) I see fully listed BT (BT.A) on a yield of 6.82%. I’m no expert in these large-caps (so this is NOT a tip!), but that seemed pretty tasty to me and worth a bit of a look – my first port of call being what the ShareProphets large-cap professor, Chris Bailey, had to say (see HERE). 

Cloudbuy – FY17 numbers are better (or less bad), but good enough to justify market cap?

Published 490 days ago

I just can’t help fearing for AIM-listed Cloudbuy (CBUY) and its shareholders. Here we are heading for two years after a £5.75 million rescue refinancing by Mr Roberto Sella and now post a further rescue refinancing last December (another £3.5 million committed, of which £1.7 million has been drawn) and I still wonder if the company will ever make any money. Yesterday morning we had its FY17 numbers: they are not as awful as the last lot, but it still look pretty bad.

Filthy Forty Haike Chemical – the long goodbye

Published 491 days ago

Anyone foolish enough to be a shareholder in AIM-China play Haike Chemical (HAIK) has until 1pm today to accept an offer for their shares at 30p. An EGM on 12 March passed resolutions to delist from the Casino, the execution scheduled for close of play on 19 March.

Bowleven – Crown Ocean still upping stake

Published 491 days ago

My second tip of the year, AIM-listed Bowleven (BLVN), announced on Tuesday that major shareholder Crown Ocean has once again been upping its stake – it now holds 29.03% of the equity. I took the cue and did the same (though not 29%!). Crown Ocean is, of course, the shareholder which rocked the boat last year and forced out the old board by calling two EGMs and supported the new fellas as they proposed to turn the company into a holding company with rather lower costs.

Tern – a partner for Device Authority. No financials today, but…...

Published 494 days ago

AIM-listed jam tomorrow investment company Tern plc (TERN) has announced that its principal investee company, Device Authority, has a new strategic partner in the form of NSE-listed (National Stock Exchange of India, not the NYSE!) Larsen & Toubro Limited. It looks like a big player but…..

Minoan updates (at last!) on sale of Travel division and Cavo Sidero. Buy

Published 494 days ago

No-one could ever accuse AIM-listed Minoan (MIN) of doing anything quickly, but this morning’s announcement appears to suggest that things are finally moving. It is still speculative (both in terms of whether two deals happen, and how long they’ll take) but the shares are a buy.

Ariana – production guidance: good news

Published 494 days ago

AIM-listed Ariana Resources has released production guidance at its JV operation at Kiziltepe in Turkey for 2018. The big headline is that the forecast gold production has been upped to 20,000 oz, but there are a few more interesting nuggets to be found.

Servision admits that shareholders are fecked, another vindication for the Sheriff of AIM

Published 494 days ago

With its shares suspended pending clarification, long time aggressive accounting, cash guzzling, AIM uber dog Servision (SEV) has updated those dumb enough to hold its shares, despite all the warnings here, about the slide into the abyss.

Scancell – things seem to be picking up for this awful share tip

Published 495 days ago

I admit it: this has been a very poor tip, dating way back to the ShareProphets Christmas/New Year tipfest at the end of 2014 when I offered AIM-listed Scancell (SCLP) at 31.75p. Much of what I was looking for came to pass  - apart, that is, from an offer for the company or one of its cancer-busting platforms. And a few things went wrong.

Milestone – shares now below nominal: what are the chances of getting a placing away?

Published 497 days ago

I see that AIM-listed Milestone Group (MSG) has had its shares marked down below their nominal price of 0.1p today: they are now 0.09 – 0.1p bid to offer. Given that the company has a desperate need for cash, that’s a problem – especially when it passed on the opportunity to put resolutions for a capital reorganisation to its forthcoming AGM.

Tern – placing; death spiral ends. Good news?

Published 499 days ago

AIM-listed Tern (TERN) has announced a placing this morning, raising £650,000 (gross) at 2.55p, and that it has terminated its death spiral facility with immediate effect. This is very good news indeed. I don’t suppose shareholders will be feeling the love just yet, given the destruction of Tern’s share price since last summer, but at least the rot seems to have been stopped.

Eqtec halves its share price thanks to the worst death spiral deal going - arranged with a proven fraudster

Published 499 days ago

I realise that the crony capitalists round at Nomad Northland have a few things on their mind, such as who will pay the wages this month, but how on earth can they have signed off on the worst death spiral deal I have ever seen where the counter-party is a man who the SEC nailed for "defrauding investors." I despair.

Sabien Technology – looking back over a (correctly called) Steve Moore dog

Published 499 days ago

Thumbing through the top list of losers today I can’t help but notice that AIM-listed Sabien Technology (SNT) is top dog, so to speak, having dropped 36% today on no news. I wonder what is behind this drop! Does somebody know something?

Holocaust denying fraudsters MySquar in death spiral shocker - despite saying would never need to raise funds again - Part 1

Published 500 days ago

When MySquar (MYSQ) misled investors to get away a £1.2 million fund raise in on July 31 2017 it said it would never have to raise cash again. Well it did not take long for a change of mind from the holocaust denying fraudsters did it? And this fund raise  announced today is dodgy as hell, yet another mega red flag. So lets go through the lies and spoofs in order up to the latest spoof.

Yolo Leisure – why are the shares off 18%, and at a discount to NAV of c. 65%

Published 500 days ago

I can’t say I know alot more about Yolo Leisure & Technology (YOLO) than I’ve learned in the last hour or so, but on no news the shares are near the top of the ADVFN losers leaderboard at -17.65%. I wonder why. 

Interserve – “unlikely” rescue bid?

Published 502 days ago

I see that today’s Telegraph is reporting that Emerald Investment Partners (and the man behind it, Alan McIntosh) in emerging as a key player in the refinancing discussion of fully-listed Interserve (IRV). We are told that Emerald has pledged to back the refinancing, which is very good news. The last thing we want to see is another Carillion-style collapse. 

5 Slam-dunk shorts: February update (sorry it’s late, no really, very sorry indeed)

Published 502 days ago

I see that Cynical Bear is wallowing in his own apologies today. I’m sorry too – and much sorrier that Cynical - for the update on my 5 shorts is a week late. Still, better late than never. 

Karelian – oh dear! With Beaufort gone, who will do the placing?

Published 504 days ago

AIM-listed Karelian Diamonds suddenly seems to have a bit of a problem. Its broker, Beaufort Securities, is now in administration and deemed (by the FCA) to be insolvent. But Karelian has a big hole in it’s balance sheet, as explained HERE.

Big Sofa – Big Fundraise at a Big Premium, Company chat

Published 504 days ago

Tom Winnifrith and Cynical Bear have been battling it out over AIM-listed Big Sofa (BST) for a fair while. Cynical worries about the company running short of cash, Tom is interested in the growth and points to the fact that Sofa is about to turn profitable (according to the company). In the middle of all this, I have a few shares myself and have been wondering what to do (and so did nothing!)

Milestone Group – what’s in the Annual Report? Ah yes, the Auditor’s report!

Published 505 days ago

I had a flick through the 2017 Annual Report released by AIM-listed Milestone Group (MSG) yesterday. Having noted the missing auditor’s statement in the results RNS, let’s see what it says.

Milestone Group – Black Cactus watered down (or is it a graceful exit)?

Published 506 days ago

Yesterday afternoon two RNSs came out from AIM-listed Milestone Group (MSG). At 4pm we were notified that the 2017 Annual Report had been published, as had the AGM Notice. But at 3.07pm a rather more interesting announcement was issued regarding Black Cactus. Yes folks, that’s the one we’ve been waiting (and waiting and waiting) for. You will no doubt remember that Black Cactus is the outfit of Larry (who has not got an Oxford Maths Degree) Cummins, and that Milestone had agreed a deal with it whereby it would get a few quid in commission and new shares worth 29.5% of the company. Now we are told:

Karelian Diamonds – Interims: when’s the placing, and what about related party payments?

Published 507 days ago

Yesterday the good professor Conroy’s elder child, AIM-listed Conroy Gold and Natural Resources (CGNR) released its interims to last November and it needs cash. Today it is the turn of little brother, Karelian Diamonds (KDR) and the picture is no better. And as you shall see, there is an air of one insolvent partner funding the other. At least, that’s how it looks. And I wonder about the maths….

MySquar shares slipping shouldn't the fraudsters be making a statement?

Published 507 days ago

I know that MySquar (MYSQ) prefers to leak speculation and innuendo as news via the fraudsters poodle journalist of choice, Rob Terry's pal Ben Harrington, but perhaps the holocaust denying fraudsters might consider an RNS PDQ!

Conroy Gold and Natural Resources - Interims : oh dear, oh dear, oh dear

Published 507 days ago

AIM-listed Conroy Gold and Natural Resources (CGNR) published its interim accounts to 30 November 2017 this morning. Ignoring the jam tomorrow (we’ve seen that all before) it is clear that the company was up to its eyes in debt, not that chairman Prof Richard Conroy was bothered by that as he introduced his chairman’s statement with “I have great pleasure in presenting your Company’s Half-Yearly results”. He’s pleased – but I doubt any shareholder with half a brain cell will be.

Time is up for Nick Trew and trougher Sir Henry Bellingham MP at Pathfinder - are they misleading investors?

Published 509 days ago

I first encountered Sir Henry Bellingham MP when he rented out his good name to the wholesale AIM fraud that was 3DM (now in administration). Did he care that there was massive evidence of fraud? Well not enough to resign for many years while taking his fees. He is the sort of A Grade troughing shite that gives Tory MPs such a bad name. He is now a director of Pathfinder Minerals (PFP), but for how long. Richard Jennings of Align Research owns 4% of the stock and is now calling for Sir Hal and CEO Nick Trew to go at once. I support that call. Jennings has published a very strong letter indeed today making damning accusations.  Over to Richard:

Interserve – slipping again. Has it mortgaged itself too far?

Published 511 days ago

I haven’t commented on fully listed Interserve (IRV) for a while. This, of course, is another outsourcing company doing our blessed government’s good works for it – and, like Carillion (RIP) is struggling with its debt (albeit we are to believe to a lesser extent). It is also a company which has delivered less than complete clarity. But it is under new management. So I wonder why the shares (now down to just 64.9p to sell as at Friday’s close) have again been slipping.

Milestone Group – FY17 results a dog’s breakfast, is it INSOLVENT yet?

Published 513 days ago

AIM-listed Milestone Group (MSG) has this morning posted the most awful set of results. Having been on the AIM Casino since 2003, the company clocked up losses of £2.26 million on revenues of a paltry £24,640. Retained losses stood at a jaw-dropping £33 million and the audit report (needless to say, missing from today’s RNS) contains, we are told, a material uncertainty paragraph. I should coco.

Crack out the Ouzo - UK Oil & Gas shares in freefall on Broadford Bridge disaster

Published 514 days ago

If it was not ouzo o'clock at the Sheriff's Greek bolt-hole after the Servision (SEV) debacle it sure is now after UK Oil & Gas (UKOG) fessed up to disastrous news from Broadford Bridge. We bear have been utterly vindicated but there is far worse to come for the morons who thought they knew better - the shares have slumped to 1.9p but they will now inevitably fall to as low as 0.5p in the coming weeks.

UPDATED: Servision - shares suspended pending clarification, i.e its fecked! Told y'all

Published 514 days ago

"CEO Gidon Tahan, ex broker Beaufort Securities, Auditors Hays Macintyre, PR himbo Christian Taylor Wilkinson, lacky Nomad Nick Athanas of Allenby, financiers Yorkville, the Bulletin Board Morons we have beaten them all, we have beaten them all!). Servision, can you hear me? Servision ... your boys took a hell of a beating! Your boys took a hell of a beating!"

Cloudtag tells its dumb investors that it will relist - blames Nomad Cairn for AIM exit

Published 516 days ago

If you were dumb enough to own shares in the fraud Cloudtag (CTAG) before it was booted off the AIM casino you will swallow any old horse. If proof was needed of this two investors, from the Shareholders Group committee, met with the company's CEO Amit Ben Haim and its IR man Jamie Bligh on 13 February. The minutes are a hoot and can be accessed below.

Bowleven – game on? If not, the ref’s whistle is in his mouth

Published 517 days ago

I’ve been banging on occasionally about how AIM-listed Bowleven seems to offer value. I suspect that we will be off to the races shortly, for some detail of an appraisal drilling campaign in its 20%-owned Etinde field has been announced – and the company is carried through this campaign.

Milestone: ‘fesses up that January compromise deal settlement cash from 2016 non-placing still not arrived

Published 518 days ago

Way back in November 2016 I first commented on the fiasco at AIM-listed Milestone Group which eventually saw then CEO Deborah White handed a black bag. This was the placing, first announced in October 2016, where the £1.25 million of cash never arrived and which the company sat on news of non-payment until it ‘fessed up on the day Donald Trump won the Presidency. It was a good day to bury bad news – but as ever, ShareProphets was watching. Well, the cash STILL hasn’t arrived, even on the much reduced 10p in the £ compromise terms announced on 22 January this year and I think the company has again been tardy in passing on the news.

Haike Chemical – doop, doop, doop,…..another one bites the dust

Published 518 days ago

And so the ShareProphets AIM-China Filthy Forty will be down to just 7 members after Haike Chemical (HAIK) confirmed its previous suggestion that it may delist. The EGM is set for 12 March (in China, even though the parent company is registered in the Cayman Islands and listed on AIM), at which time we can wave bye-bye to another Chinese value destroyer.

The under-performing FTSE100: an opportunity?

Published 519 days ago

Yesterday I listed 30 of the FTSE100 with high enough yields to interest me, noting that the yield on the FTSE100 as a whole was substantially higher than 30-year US treasuries and a country mile ahead of 30-year gilts. Of course, having a big yield doesn’t make them a buy automatically – just for starters, is the yield sustainable? But now I want to compare the performance of the FTSE100 with other indices around the world. It makes for a striking comparison.

Mayan Operational update: Zac says Irresponsible I say ramptastic shite c/o Fatty

Published 520 days ago

Mayan Energy (MYN) has not had a placing since it raised £2 million gross at 0.6p in mid November. Circa £1.5 million of that went out of the door at once on commission and an acquisition so the tank must be running kind of dry by now. Hence Align being paid to initiate (bullish) research and seven ramptastic releases in less than three months. Today's is shocking and Nomad Roland "Fatty" Cornish, London's most useless Corporate adviser, should be hung drawn and quartered for signing off on it.

Market “crashing”: a few thoughts and 30 interesting yields for dividend munchers

Published 521 days ago

Warren Buffett always tells us that his intended investment holding period is forever, that he buys stocks he would be happy to hold if the market closed down for five years. I guess, then, if you’re  Warren Buffett then the market travails of the last few days won’t bother you. If you’re not Mr Buffett I offer a few thoughts.

Sack Nick Trew CEO of Pathfinder Minerals

Published 523 days ago

Richard Jennings of Align Research is, to his credit, a great Hellenophile and an even greater ailurophile. He also have some views which are pretty nutso. But his stern words on Nick Trew the CEO of Pathfinder Minerals (PFP) are ones that I have real sympathy with. Jennings reckons that it is black bag time for Trew and is prepared to call an EGM to get his way. I support his call to oust Trew and would urge all shareholders to contact him on the address below to set the wheels in motion. Over to the cat lover who writes:

Karelian Diamonds – a lesson in reading RNSs: You've been spoofed - when’s the placing?

Published 526 days ago

AIM-listed Karelian Diamonds (KDR) rather bucked the trend yesterday when it put on 10.6% on a day the markets were again sinking. We all know Karelian needs a placing urgently, to keep the lights on. So what caused the rise? Oh, hang on, there are three RNSs which were released just after 3.40pm – and they are all good 'news', except for one small detail…

Proxama – a well-run company? Then I’m a banana

Published 526 days ago

This is comedy central. AIM-listed Proxama (PROX) put out an RNS after-hours last night (at 5.29pm) entitled Statement re Speculation and then ‘fessed up to a few problems at Companies House. I haven’t tracked down the speculation – perhaps some kind reader can point us all in the right direction. But well-run companies don’t suffer from this type of problem. The RNS read:

BREAKING: IQE - now the shit really hits the fan: Muddy Waters goes short and publishes the bombshell dossier below

Published 526 days ago

Legendary US bear raiding outfit Muddy Waters has announced that it is short of IQE (IQE). It dismisses Matt Earl's Shadowfall dossier of last week as only partially getting there and has published its own devastating report slating IQE as an "egregious accounting manipulator". Don't mess with Muddy Waters, anyone out there still owning this stock should sell NOW!. Muddy notes:

BMR Scandal - what about the November Placing? A Very Angry Bear comes a-calling

Published 527 days ago

Further to my pieces on the BMR Scandal, we might note that BMR completed a Placing via those fine upstanding chaps at Peterhouse Corporate Finance to raise £0.8 million at 2p, as announced on 14 November last year. This was, of course, when BMR knew – but the market did not – that it had received a default notice regarding its Kabwe project in Zambia.

BMR Scandal – Jubilee says it knew nothing of the default notice.

Published 527 days ago

Well, well. Yesterday AIM-listed BMR ‘fessed up that it had received a default notice way back in September from the Zambian authorities with reference to its Kabwe project. The company didn’t notify the market of that until yesterday, when it ‘fessed up that it has now been stripped of the license. So what of its joint venture partner, fellow AIM-listed Jubilee Metals Group (formerly Jubilee Platinum, JLP): what did it know?

Is this an early April fool video: The fraud Cloudtag is getting into blockchain?

Published 527 days ago

Remember the fraud Cloudtag (CTAG), booted off AIM after its Nomad quit after it told just one too many total lies? Perhaps this is a spoof but it seems that fitness bands are not the place to be, Cloudtag is getting into blockchain. Natch! 

SCANDAL!! BMR: loses Zambian mining right (of which it was forewarned but shareholders weren’t), shares suspended. What about the cash? What about Nomad W H Ireland?

Published 527 days ago

AIM-listed BMR updated the market at 1.15 this afternoon: it has been stripped of its Zambian Mining right and the shares are now suspended. And it seems the threat was known back in September, but the company didn’t bother to mention it.

Neil Woodford & his Related party pals at IP Group - another damning note from JCap

Published 528 days ago

I am really warming to analyst Anne Stevenson-Yang of JCap whose latest note on Neil Woodfords pals at IP Group (IPO) "Some Companies deserve to die" is a stormer. And she cites the great work done by Shareprophet (sic) in her report.

Woodford: Crisis?, what crisis?

Published 528 days ago

One wonders what Neil Woodford has been doing in the face of Cynical Bear’s onslaught against his funds. Reading Cynical’s pieces, it is clear that the Woodford house was edging ever closer to disaster. Now it seems that the effluent is indeed in collision with the air conditioning: we’ve had disasters at Purplebricks (PURP) and Capita  (CPI), and there’s a stockmarket correction (at least we hope that’s all it is) underway. Oh, and we have numbers from the AA on Thursday – hardly the ideal time to take a hatchet to its dividend! So what has Mr Woodford been up to? Well, why change a winning formula!

FCA short positions table: more bad news for Woodford ahead?

Published 530 days ago

I have been taking a look through the FCA table of registered short positions, following my piece on Interserve of Friday. I don’t offer anything exhaustive, but the largest individual short positions interested me as they are as high as 5.42% of the capital. That’s quite a bet. Oh, and just as it happens, Neil Woodford features with two of them. They are also all stocks where we at ShareProphets have been bearish.

Stellar Diamonds - so when exactly did you get a bid approach, before or after fat cat share options were repriced?

Published 531 days ago

On February 1st 2017 Stellar Diamonds (STEL) announced that it was "in advanced negotiations" about a bid at 12.7p, a 452% premium to the share price on January 31. Hooray, trebles all round. But hang on Henry what about those share options?

BREAKING: Bombshell 36 page dossier from the Dark Destroyer Matt Earl - IQE shares grossly overvalued

Published 532 days ago

Matt Earl, the bear raider known as the Dark Destroyer is riding high after a string of recent big wins including Mitie (MTO). His next target is IQE (IQE) currently valued at c£890 million. Launching his new hedge fund Shadowfall Matt has produced a damning 36 page dossier which we reproduce in full below.

Interserve – that’s quite a short position: what do they know?

Published 533 days ago

I noted yesterday that shares in fully-listed Interserve (IRV) seemed to be in free fall. At time of writing they were down 15% and they dropped further at the close. There was no RNS, nor any news I could find. Following a spot of digging, the FCA spreadsheet of net short positions shows a spot of recent activity: why?

GOTCHA! Tern – update on Device Authority funding round. You sure you are telling us the whole truth?

Published 533 days ago

I have to say I’m puzzled by this morning’s announcement from AIM-listed Tern (TERN) regarding the proposed (and so far failed) funding round for Device Authority via US Capital Markets. Silly old me, I thought it was dead in the water – after all, an outfit called USCIM Fund XXXIII Device Authority LLC has been dissolved. I can’t find a replacement.

Ariana – Kiziltepe update: good news, buy

Published 533 days ago

AIM-listed Ariana Resources (AAU) has delivered its Q4 update from its joint-venture Kiziltepe gold mine in Turkey. The news looks to me to be very good on several fronts.

Avanti & its disappearing backlog - just why is this not market abuse for the FCA to investigate?

Published 535 days ago

Bombastic ex CEO David Williams isn't the only thing that's left busted flush satellite operator Avanti Communications (AVN) in the last few months. More than 50% of the company's Backlog has disappeared too - this surely implies market abuse and is something that the FCA should be investigating?

Conroy Gold & Natural Resources: ShareProphets Translation service on today’s “business update”

Published 536 days ago

Delisted from the junior Irish market but still trading on AIM, Conroy Gold and Natural Resources (CGNR) has put out a business update. The ShareProphets RNS Translation Service, having already had a field day on Telit this morning, is on a roll (original in bold)….

Five Slam Dunk shares to sell for 2018 – one month update

Published 538 days ago

It is time for a review of the five shares I put up as slam-dunk sells on New Year’s Day. Those shares were UK Oil and Gas (UKOG), Frontera (FRR), Tern (TERN), Telit (TCM) and Milestone Group (MSG). How have they fared so far this year?

Waseem Shakoor slates Frontera on its latest ramptastic presentation

Published 540 days ago

The morally bankrupt and intellectually challenged PR fucktards at Yellow Jersey, who fund their miserable existences by helping shite companies such as Frontera Resources (FRR) ramp their worthless shares, organised an investor presentation last night for the faithful. By all accounts the wine flowed freely with the morons who attended not realising who was paying for it... it was them. Waseem Shakoor who is - rightly - short, as an £81 million market cap is absurd, notes:

Watchstone - Lack of Profits Warning and SFO update

Published 540 days ago

For those who think Rob Terry,, the king of the fraudsters, has got away with the £3 billion Quindell (QPP) scam, there was confirmation today that the Serious Fraud Investigation continues. Actually you can see that on the SFO's website but that Watchstone (WTG) - Quenron wi8th a face lift - confirmed it suggests it is still co-operating. Of course it is. Its new managers loathe the criminal Terry. I do expect arrests this year. The other news - a lack of profits warning and again this is Terry's mess.

Cloudbuy – warns on revenue, when will the cash run out?

Published 541 days ago

AIM-listed Cloudbuy (CBUY) issued a trading statement yesterday in relation to the full year to December 2017. The good news is that bullshit earnings (EBITDA) will be broadly in line – ie a slight miss – at around half that of the previous year. The bad news is that revenues are below expectations. Uh-oh.

Avingtrans – Equities First is back

Published 541 days ago

It has been a while, but it seems that the hoods from Equities First Holdings LLC are back once again: AIM-listed Avingtrans (AVG) announced on Tuesday that one of its NEDs, Mr Ewan Lloyd-Baker, is handing over 300,000 shares for a two year loan. The text of the RNS (just as with Igas, Cloudbuy, IQE, Quindell, Optimal Payments (as was) and Angle) again fails to point out that from Mr Lloyd-Baker’s point of view the deal is non-recourse so he can throw in the towel at any time if things go wrong.

Tern - uh-oh, now a profit warning

Published 541 days ago

Having warned back on 7th November that AIM-listed Tern (TERN) was heading into the perfect storm, I note that the shares are now just 2.75p as against 4.375p then. We are just 3/8 of the way through converting the company’s death spiral facility whose identity is not disclosed, its principal investee hasn’t raised a bean via US Capital Partners, Tern has had to pony up more cash to it (having given a clear signal of cashflow the other way). And now we learn that Device Authority has seen 2017 revenues impacted by delays in both customer implementation schedules and customer restructuring. It never rains when it pours….

Karelian – house broker “very excited”. What for - placing commission?

Published 542 days ago

Prof. Richard Conroy's AIM-listed Karelian Diamond Resources (KDR) is apparently making house broker Beaufort Securities “very excited”. Obviously that is entirely because of the company’s ramptastic RNS (which saw the shares fall - why might that be?), and nothing to do with its train-wreck of a balance sheet and the bail-out refinancing it needs. No, it is not because Beaufort can see a nice commission cheque on the way.

BREAKING: Hey Milestone – anything you want to tell us? Oh, OK, we'll tell then...

Published 542 days ago

AIM-listed Milestone Group (MSG) has been up to its neck in controversy for over a year now, but I wonder if the company has had some bad news it hasn’t quite got around to sharing. This is regarding its blockshain spoofery (oops), I mean its software license agreement with Black Cactus Global Inc (Envoy Group as was) which we were told it had entered into on 6 December.

RSM Tenon (now ArrandCo) & audit Partner Jeremy Filley fined big time by FRC over Quindell thanks to Tom Winnifrith

Published 543 days ago

The Financial Reporting Council has today fined audit firm ArrandCo, formerly known as RSM Tenon, £1 million ( reduced by 30% for co-operating) and audit partner Jeremy Filley £80,000 ( reduced to £56,000) for allowing the fraud Quindell (QPP) to publish fraudulent 2011 accounts. No doubt Snot Gobbler Dan McCrum at the FT is again about to produce a timeline taking credit for this but the FRC has stated explicitly that it widened its enquiries to include the 2011 accounts only because of specific allegation raised by me as you can see HERE.  These fines are down to my work, not that the deadwood press will ever acknowledge that. So how did Rob Terry and his associated in the Quenron gang, cook the books with the help of Filley and RSM Tenon.

Frontera Resources slammed for breaching disclosure guidelines and more

Published 543 days ago

Folks can ignore the warnings of myself, Nigel Somerville and Waseem Shakoor about the overvalued ramp stock Frontera (FRR) if they wish. But the City's No 1 oil analyst Zac "The Knife" Phillips has just published a very specific and damning note. No doubt "fat bastard" Malcolm Graham Wood will ignore this real analysis as he continues ramping the shares with misleading statements in return for generous cash payments to buy yet more pies.  But it might pay the Bulletin Board Morons to listen to someone who is not on the payroll and does know what he is talking about. Over to The Knife...

Frontera: WTF is “sustained deliverability” – where are the Ud-2 flow rates?

Published 543 days ago

Oh BBMs, lap up the nonsense coming out of AIM-listed Frontera (FRR) this morning. Please buy lots of shares, for there are lots more coming. We had expected an update on the company’s work on the Ud-2 well in Georgia, but this morning’s effort offered  no numbers to go on and some strange terminology.

Filthy Forty China Fraud Taihua – already off AIM, now Companies House is threatening strike-off

Published 546 days ago

I see that former ShareProphets AIM-China Filthy Forty play Taihua (TAIH) (note former, as it left AIM via tha HaraKiri route last May) has had an unfortunate missive from Companies House. This, of course, was yet another AIM-China play festooned in Red Flags, but an EGM waved through the AIM delisting as shareholders were told that major shareholders Messers Yin and Liu had signified their intent to purchase ordinary shares from other shareholders after the delisting.

ShareProphets AIM-China 'Filthy Forty' – another one bites the dust, just 8 left (& another on its way)

Published 548 days ago

This morning it was announced that Alpha Returns Group (ARGP) has been unable to replace Roland Fatty Cornish as Nomad and that it is off to the AIM Execution Chamber over the weekend. With Haike Chemical (HAIK) having announced yesterday that it is considering (ie certain to) delist, that will be the ShareProphets AIM-China Filthy Forty down to just seven companies. They are still dropping like flies, then.

Haike Chemical – another Filthy Forty death on the way

Published 550 days ago

ShareProphets AIM-China Filthy Forty member (pro tem) Haike Chemical (HAIK) issued a trading update for full year calendar 2017 at 10am this morning. Uh-oh….

CORRECTION: Andrew Monk leaps to the defence of AIQ -the er...wonder stock

Published 551 days ago

Andrew Monk's VSA floated AIQ on the Standard List last week. Its shares soared 1000% and were suspended. As Andrew notes, through the passive investment vehicle RRR I own shares in AIQ (about £10 worth - CORRECTION I am told it is £1841 worth!). I will try to sell the lot as the valuation is insane. But Monk wants to defend his corner so before our writers really go to town - and I am on their side - here is Monkey in his private email to clients today...

Ariana – making some noise, still a buy

Published 552 days ago

There has been a fair amount of noise coming out of AIM-listed Ariana (AAU) lately. The back end of last year saw news from its self-styled Hot Gold Corridor and now the focus seems to be raising the flag for its Kiziltepe site, which has been in production for 9 months or so – and we are due the next quarterly report from that in the next week or two. Meanwhile the gold price has been strong of late, and Ariana’s share price has benefitted – although there is a way to go to get to the target of 2p.

Victoria Oil & Gas – more on that (bad) after-hours Friday RNS

Published 555 days ago

Following my questions about the RNS released last Friday at 4.31pm by AIM-listed Victoria Oil & Gas (VOG) which saw a 20% share price drop during the auction, I have had confirmation of what actually happened from a reliable source. It makes a mockery of AIM Rules and MAR.

UK Oil & Gas - more death spiral confetti issued, now at just 2.69p

Published 557 days ago

Lube up morons, another £500,000 tranche death spiral loan has been converted into shares in UK Oil & Gas (UKOG). As time goes on this exercise is becoming ever more painful for the morons who own this stock.

Kimberley Enterprises – get your bag of crisps now!

Published 557 days ago

An announcement just out from AIM-listed central and east European property developer Kimberley Enterprises (KBE) that it is proposing to delist from AIM also tells you that the company is utterly worthless. It’s bag of crisps time – if you can sell now and get anything above your dealing costs then that is what you should do.

Tern: draws second tranche of death spiral loan early…TIMBER!!

Published 557 days ago

AIM-listed Tern (TERN) has announced that it has drawn the second tranche of its death spiral loan early. The first tranche saw Tern’s stock marched down from over 5p to as low as just 1.75p. The starting point for tranche two is just under 3p and the shares have already notched up a low of 2.125p, although they have recovered to 2.5p as I write.

Victoria Oil and Gas: after hours Fri RNS – bad news, shares collapse in auction, but whose fault?

Published 557 days ago

I can’t say I know an awful lot about AIM-listed Victoria Oil and Gas (VOG), beyond its (still) pending farm-out deal with fellow AIM-listed Bowleven (BLVN) which continues to await approval from the Cameroon authorities. But I do know is a 20% share price fall and an unfortunate after-hours RNS looks pretty bad – both for the company and for AIM in general. The question is what went on and whether the company and its Nomad behaved badly, or whether it was simply the effect of the blind application of AIM Rules.

BNN Nomad quits - more money issues for the ex CEO and all round spiv Darren Mercer

Published 563 days ago

Finally the Nomad to the China promote created by all round spiv Darren Mercer has had enough - Strand Hanson has quit with effect from January 9 and if no replacement is found by February 9, BNN Technology (BNN) will be booted off the casino. 

UKOG -- Now Lyin' Steve: did you exercise your 0.4p options

Published 564 days ago

With the shares hovering around 3p, anyone holding options in UK Oil & Gas (UKOG) exercisable at just 0.4p but expiring on 31 December 2017 would surely exercise the lot would he not? 

Stanley Gibbons – awful interims as shareholders prepare for a shafting

Published 564 days ago

AIM-listed Stanley Gibbons (SGI) published its interims on Friday 29 December – the last trading day ahead of the New Year break. Worse still, it released them at 11.07am on a stock market half day. Talk about no-one-is-watching o’clock. Unfortunately, there was plenty to watch – and none of it pleasant for the company’s shareholders.

FIVE Slam Dunk shares to sell for 2018

Published 565 days ago

OK, I’m breaking all the rules – the deal was two long tips and here I am with a third tip of the year and it is five stocks and they are shorts (or at least avoids). Still, as Cynical Bear knows, rules are for breaking, and in any case we both broke the rules in our suggestions for shares looking for a Christmas surge when we named two, not one.

The ShareProphets 24 share tips of the year: No 21 a buy from Nigel Somerville

Published 566 days ago

Between December 24 and January 2 we are serving up 24 share tips of the year from our team of writers at ShareProphets. The share tips are for paying subscribers only. Next up is a buy tip, the second of two from the deputy Sheriff of AIM, Nigel Somerville.

Tern - more funding for Device Authority, more sales for Mr D Spiral

Published 568 days ago

AIM-listed Tern has announced a further funding round for its biggest investee, Device Authority, totalling “up to” $1.7 million in the form of loans from existing shareholders. Tern is up for $720,000 of that, on top of the $150,000 announced at the back end of November. Whatever else, the proposed $10 million fundraise by DA which would have seen Tern get back $2 million looks to be dead in the water.

The ShareProphets 24 share tips of the year: No 16 a Buy from Nigel Somerville

Published 568 days ago

Between December 24 and January 2 we are serving up 24 share tips of the year from our team of writers at ShareProphets. The share tips are for paying subscribers only. Next up is a buy tip, the first of two ideas from Nigel Somerville.

Filthy 40 China fraud Aquatic Foods – So long, and thanks for all the fish

Published 568 days ago

With apologies to Douglas Adams, as long predicted here on ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) didn’t get its 2016 accounts out and the AIM Executioner has done its duty. After six months suspended, it has been given the boot.

Telit says bank grants covenant waiver - 2 Massive Questions unanswered

Published 569 days ago

Telit (TCM), the drowning in debt IOT company set up by fraudster and fugitive from Justice Uzi Katz, has announced that its bank has granted an advance waiver for the potential breach of covenants as at 31 December 2017. Telit says that it and its banksters "remain in discussions with regard to amending its covenant package for future periods." This begs two massive questions.

Cloudtag's Christmas message to its moronic shareholders

Published 574 days ago

The fraud du jour of 12 months ago Cloudtag (CTAG) continues to pretend it is a real company with real operations. Its website even has a year end message from CEO Amit Ben Haim. It doers not have FY 2016 or H1 2017 financial results but who cares about numbers when you have Amit spouting 100% bull. Amit tells his moronic followers: 

Octagonal – CEO Gunn in an EFH-style deal? Is there trouble in the boiler room?

Published 577 days ago

Yesterday AIM-listed Octagonal (OCT) released a Director’s Dealings RNS. Nothing unusual about that, you might think, but the text was announcing that CEO John Gunn was taking a loan secured against his shares in the company. Is he doing an Equities First type of deal?

Tern – follow on investment into InVMA

Published 577 days ago

AIM-listed Tern plc (TERN) has announced a follow-on investment into InVMA totalling £125,000 to add to its previous investment of £250,000. All very well, but what happened to the expected follow-on of £250,000 at the end of October? It seems to be almost two months late, and only half the money. Why might that be?

Filthy Forty Alpha Returns Group – Nomad problems, shares suspended

Published 578 days ago

AIM-listed Alpha Returns Group (ARGP) is not only a member of our Filthy Forty, but also has an interesting past as the disaster that was Digital Learning Marketplace (DLM) under Angus Forrest (recently departed from Tern plc). Its Nomad, until 18 October, was ZAI Corporate Finance but ZAI lost its Nomad licence. So Alpha Returns turned (or, rather, returned) to Beaumont Cornish.

React Group and Nomad SPARK – about the FD

Published 578 days ago

A little bird emailed me with some interesting questions about AIM-listed React Group (REAT) and its new(ish) FD. In the light of the HotStockRockets update at the weekend (see HERE), where questions over the management’s ability to get their sums right were asked in the wake of a revised (downwards) trading statement, it seems that the FD has a few questions to answer – and I have some more.

EXPOSE - UK Oil and Gas: Lyin' Steve Sanderson, you are nailed

Published 578 days ago

Tom Winnifrith has voiced his suspicions that AIM-listed UK Oil and Gas (UKOG) has been playing fast and loose with the rules over timely announcements of conversions of its death spiral funding package. A trip to Companies House suggests he is right...

Minoan – fundraisings and corporate news

Published 578 days ago

AIM-listed Minoan (MIN) has followed up last week’s Trading and Financial update (covered by me HERE and by HotstockRockets HERE) with news of two fundraising and corporate news. The tin-rattling first: it has placed out 5 million shares at 6p to raise £300,000, and as I speak W H Ireland is running an accelerated bookbuild to raise up to a further £1 million. Meanwhile, the company says it has received credible approach which may (or may not) lead to the sale of its Travel and Leisure business. (Hooray for Mystic Deputy Sheriff!)

The People's Operator shares suspended to avoid New World v2

Published 579 days ago

The Stock Exchange today took the unusual step of suspending trading in shares in The People's Operator (TPOP) under rule 1510. So what is going on?

Draganfly – AIM POS “pleased to announce” interims. Hang on to the asbestos suit!

Published 579 days ago

I last covered AIM-listed Draganfly (DRG) HERE and concluded that it was one for the asbestos suit and a very, very long bargepole. Now, almost 15 months on, its (afterhours, natch) interims caught my eye. Apparently the Board are [sic] pleased to announce them, and so is the Chairman. So they are good, right?

BREAKING: BOS Global - and another thing - is Peterhouse telling potential investors that it has no right to do a deeply discounted placing

Published 581 days ago

I have pointed out earlier that Peterhouse Corporate Finance has real issues in trying to get away a placing at 0.25p or perhaps 0.1p in AIM dog BOS Global (BOS). With the shares at 0.7p bid some may be tempted but before they send cash over to broker Peterhouse they do know the broker cannot do a placing don't they? Er.. something else Peterhouse is not telling its clients maybe?

F40 Univision – “pleased to announce” interims to Sept. Opinion (profit) vs reality (cashflow)

Published 581 days ago

I am a bit puzzled by this announcement. ShareProphets AIM-China Filthy Forty play Univision (UVEL) is obviously “pleased” with the results, and with profits reported 133% higher on the same period last year and a major long-term contract win in the bag, who would not be pleased. Until, that is, you turn to the cashflow statement…

Telit - now it's a bottom line profits warning and an admission that there will be worse in 2018

Published 582 days ago

Telit Communications (TCM), the AIM dog founded by Boston fraudster Uzi Katz and now run by insider dealer Yosi Fait has now clarified its most recent profits warning of 23 November. There is good news, bad news and very bad news indeed. And there is a lack of news on one front which is also bad news. In short this stinks.

BOS Global - an open letter to broker Peterhouse

Published 582 days ago

Shares in BOS Global (BOS) a company teetering on the edge of insolvency and where the Nomad has already announced it is walking now trade at 0.85p-1p. Beware: broker Peterhouse is trying to do a placing at as little as 0.1p. I have written to Peterhouse in the spirit of the season as you can see below.

Minoan – no early Christmas gifts, but a good trading statement with lots to look forward to

Published 582 days ago

AIM-listed Minoan MIN) has issued a Trading & Financing Statement at 1.41pm. Happily, it does not look like a howler - good news there! Sadly there is no deal involving Cavo Sidero  - we will have to wait a bit longer for that. But we do get an update on its loan to Hillside and on trading at its travel agency, and we are told the preliminary results are expected to be in line with market expectation.

Tern – beating UK Oil & Gas hands down in race to the bottom

Published 582 days ago

AIM-listed Tern plc (TERN) seems to be a good few steps ahead of fellow AIM-listed UK Oil and Gas (UKOG) in the self-inflicted terminal slide as a result of signing up to a death spiral funding package. Indeed , on the day Tern announced the deal the shares collapsed from over 5p to under 4p. They now languish at 2.625p mid: Impressive stuff – unless you are a shareholder.

Milestone and Black Cactus, curiouser and curiouser

Published 585 days ago

Black Cactus which is run by proven liar Larry Cummins (BA Oxon NOT!!!) is clearly critical to Milestone Group (MSG) which - without BC - is pretty much worthless. We suspect that even with BC Milestone is sunk so let's go to Companies House shall we?

UK Oil & Gas drilling at Broadford Bridge "incompetent & a fiasco" says top Prof in new report

Published 585 days ago

Wmeritus Professor David Smyth knows about geology unlike the morons who root for the grossly overvalued oil explorer run by a proven liar that is UK Oil & Gas (UKOG). The good Prof has produced a new report on what is really going on at Broadford Bridge entitled "Yet more codswallop from UKOG," Over to the great man....

Milestone shareholder & supporter Align demands statement on Larry Cummins CV - be careful guys

Published 586 days ago

Yesterday we accused key Milestone Group (MSG) player Larry Cummins of lying about his educational achievements. Cummins has told Align Research, a supporter and shareholder, that our article was not true. He has "denied" it. Align has thus urged Milestone to make a statement and has again urged it to comment on today's article about Adrian Towning. You can see the tweet from Align below. We urge Milestone to proceed with extreme caution on this matter...

Aquatic Foods – Director resignation: rats leaving the sinking ship as AIM Execution approaches

Published 586 days ago

AIM-listed Filthy Forty play Aquatic Foods Group (AFG) has at last posted an RNS. Given that its FY16 accounts are overdue by almost 6 months, and its interims by heading for three, you would have thought we might have an update on that. But no: instead the resignation of Mircle Ching Chai Yap was announced. This chap has a spot of form….

Milestone Group – do we also need to talk about Adrian Towning?

Published 586 days ago

In his expose yesterday, Cynical Bear raised several questions around the probity of Larry Cummins the CEO of Black Cactus Holdings group. I am sure that Milestone (MSG) is rushing to clarify whether this key player has a bogus CV. Perhaps while it is at it it might clarify something about another of the four key players at Black Cactus, Adrian Towning.

EXPOSE: Tern – time to ‘fess up over Tabot Harty and Device Authority?

Published 587 days ago

AIM-listed Tern plc (TERN) seems to have a spot of explaining to do – or, more particularly, its CEO Al Sisto. I refer to the presentation on the website of US Capital Partners in relation to the (so far failed) attempted fundraise by Tern’s principal investee Device Authority.

Why have shares in ValiRx almost trebled in 2 weeks? Perhaps time to come clean on Valiseek?

Published 588 days ago

Perhaps ValiRx (VAL) should be making a statement about events at Valiseek?

Cloudbuy – more borrowing from Sella as alternative to insolvency: SELL

Published 589 days ago

As predicted HERE, AIM-listed Cloudbuy (CBUY) has again run out of cash and proposes to take further loans from white knight Roberto Sella to keep the lights on. Obviously the company wants all of its shareholders to approve the proposed deal – why is why it has called an EGM for 27 December. I’m sure all shareholders will want to break off from Christmas celebrations to attend. Not!

Ariana – more (good) news

Published 589 days ago

Shares in AIM-listed Ariana Resources (AAU) have been a pain since I recommended them back in February. They duly motored north, only for the steam to be well and taken out by a placing. I still reckon there is excellent value here and continue to look for the 2p mark to be achieved (again).

Rurelec – more bad news, examining further funding options

Published 589 days ago

AIM-listed Rurelec (RUR) has updated the market with regard to its dealings wth Energia del Sur in Argentina. In short, the cash ain’t flowing into Rurelec’s coffers.

Advanced Oncotherapy - saved by oriental white knight, but for how long?

Published 589 days ago

With a litany of Red Flags behind it, you might wonder that AIM-listed Advanced Oncotherapy (AVO) has managed to raise any money at all, but this morning’s news is – it seems – good news. Cash coming in (and large quantities of it) should pay down the payables nicely and give the company some breathing space – although we are told that the cash is still in China awaiting approval to be shipped out by the authorities. Followers of the ShareProphets AIM-China Filthy Forty might consider that as an indication that the completion of the deal is rather open to question.

UK Oil & Gas death spiral conversion announced but this is misleading, numbers dont add up

Published 591 days ago

UK Oil & Gas (UKOG) has announced that another £500,000 of death spiral loan has been converted into shares, 14,159,092 of them. But hang on, this does not add up. UK Oil & Gas and its patsy Nomad WH Ireland (WHI) are not telling you something.

Lying thieving stockmarket fraudster James Longley forgets Sam Antar's first and second rules of fraud

Published 591 days ago

The great Sam is clear. The job of a fraudster is to steal as much money as possible. So rule one is never do anything which distracts you from theft. Rule two is to ignore your critics completely. Firstly because attacking them breaks rule one, it leaves less time for stealing and secondly because it only goads the critics and gives them the oxygen of publicity. That brings us to James Longley of Plutus Powergen (PPG), Fandango Holdings (FHP), Papillion Holdings (PPHP) and Stranger Holdings (STHP) who is a liar, fraudster and thief.

Tern – don’t be fooled by the headlines

Published 592 days ago

Shares in AIM-listed Tern (TERN) seem to have stabilised after the bloodbath of last week, at 2.875p in the middle – having started last week at 4.5p and only in mid-August having completed a hugely discounted placing via Primary Bid at 6.6p. Ouch. This is all in response to the RNS last week announcing that it had signed up for death spiral funding. Yesterday, at 11am, Tern announced that was to issue 800,000 shares from the exercise of a warrant at 3p, and Alliance News picked up the story that Tern Issues New Shares Above Current Share Price To Settle Warrants. Don’t be fooled….

An Open Letter to the FRC: Please investigate MySquar for overstating assets and understating losses

Published 592 days ago

As you know, the folks round at the Financial Reporting Council are the one watchdog that is prepared to bare its teeth when it comes to wrongdoing on the AIM Casino and are also good pals of mine, truly appreciative of my work. And thus I have written to them about the holocuast denying fraudsters at MySquar (MYSQ) requesting that it launch a formal investigation into how it cooks its books. 

Tern – is this why the shares have collapsed?

Published 593 days ago

I note the comments made by Cynical Bear as he analysed the stonking collapse in the shares of AIM-listed Tern (TERN) and wondered if this would be the worst ever example of the death spiral. It seemed that there was little untoward in the disclosed details of the funding package, but there is one omission which leaves me thinking that the collapse is set to continue.

Where now for Conroy dogs Karelian and Conroy Gold?

Published 593 days ago

I’ve been wondering what comes next for Prof Richard Conroy’s AIM vehicles Karelian (KDR) and Conroy Gold and Natural Resources (CGNR). From my review of their financial results to May of this year (see HERE and HERE) it is clear that they are both in deep trouble – they are running out of money fast and the results to last May show that quite clearly. Lord knows how bad it is now.

Interserve – another old board rat deserts the sinking ship (with a bag of goodies)

Published 595 days ago

Fully listed Interserve plc (IRV) has announced the departure of its support services managing director, Mr Bruce Melizan. He has stepped down from the Board and will stick around until the end of January to effect a handover. A second announcement describes the severance package….I wish I had one of those!

Conroy and Karelian lifestyle companies produce results in a sea of Red Flags. 2: Conroy

Published 596 days ago

Yesterday I described the FY17 results of Karelian Diamond (KDR) and a series of Red Flags to be found. Today we look at its stable-mate, AIM-listed Conroy Gold and Natural Resources (CGNR) and find a similar story. It is a car-crash festooned with more Red Flags.

Tern – forget the portfolio update, it’s a death spiral, stupid

Published 596 days ago

AIM-listed Tern plc (TERN) has issued a portfolio update RNS this morning, but that is not the story. It waxes lyrical about how well Device Authority is doing – but what about the $10m fundraising? Step forward the Statement Re Issue of Convertible Unsecured Loan Notes and Loan To Device Authority for that is where the real beef is. It’s not pretty.

Christmas Comes Early - Pirate Pete Landau of Range infamy in Court again

Published 597 days ago

As he only visits those boys and girls who have been good this year I guess that Santa will once again feel no need to drop in on the Landau household, headed up by Pirate Pete of Range Resources (RRL) and many other companies, infamy. But for the rest of us there is an early present with news that the Pirate is in Court again. Happy days.

Conroy and Karelian lifestyle companies produce results in a sea of Red Flags. 1: Karelian

Published 597 days ago

AIM-listed (and no longer on Ireland’s ESM market) Conroy Gold and Natural Resources (CGNR) and Karelian Diamonds (KRL) released full year results this morning. It is a double set of Red Flags for these two lifestyle companies of Prof Richard Conroy – and despite the latter having been floated off by the former, more Red Flags come into play with related party transactions. But the biggest sin of all is treating your own shareholders as utter muppets, which is where I start.

F40 Aquatic Food – where are the accounts? Month 5

Published 598 days ago

We are now a day from the end of November and STILL ShareProphets Aim-China Filthy Forty play Aquatic Foods (AFG) has not published its FY16 accounts, which are now a day short of five months late. Also outstanding are this year’s interims, which should have been out by the end of September.

Frontera – how do you keep armies of BBMs in suspense?….er, we’ll tell you later

Published 599 days ago

AIM-listed Frontera (FRR) has managed to get around to updating the market on its Ud-2 well in Georgia. To be fair, it did promise news by the end of the month. On the other hand, there are no flow rates. Had they been good, you can bet the numbers would have been there this morning.

Bowleven – departure of last standing member of old board announced - Good!

Published 599 days ago

AIM-listed Bowleven (BLVN) has announced that the one remaining member of the old board is to depart the scene at the company’s forthcoming AGM on 13 December. The company thanks Mr David Clarkson for his three years of “considerable” service and the valuable role in providing continuity following the boardroom clear-out earlier this year.

Minoan – waiting and waiting for payday

Published 600 days ago

I hold shares in AIM-listed Minoan (MIN), the ownership of which has proved a mighty frustration for years and years – first we had the almost interminable application for the resort at Cavo Sidero which was finally won and all appeals have now ended. But now we are waiting for the company to cash in….how long will that take?

Telit - 3 profits warnings in four months, Yosi Fait "cleared" of insider dealing now full time boss - sell

Published 604 days ago

Yosi Fait sold all his shares in Telit (TCM) AFTER it breached its banking covenants which as FD he must have known about as he must also have been aware that first half trading was way below forecast. But the company's new chairman has taken external legal guidance and said Yosi did nothing wrong and so has appointed him full time CEO. Well that's alright then. But there is yet another catastrophic profits warning ( as predicted) which begs the question of how great is debt now and will bank covenants be breached again?

Bowleven - is there value here? Crown Ocean thinks so

Published 604 days ago

I note that yesterday AIM-listed Bowleven (BLVN) released a TR-1 RNS from Crown Ocean – the rebel shareholder which threw out the old board earlier this year. It has increased its holding (again).

Non paying registered users are total vanity, cash is reality - the FRAUD MySquar spoofs the morons again

Published 605 days ago

In the gold old days the fraud MySquar (MYSQ) used to report breathlessly on average daily sales volumes - that is to say cash coming in. But - as we subsequently discovered - that was largely related party non core income and it fell off a cliff on July 1. Not that MySquar bothered to let us know about that until it had got a bailout placing away. On any other market than the AIM Casino that would be securities fraud. Heck, even on the Zimbabwe Stock Exchange you'd get your collar felt for that. But on AIM fraud is okay as long as you pay your fees. Anyhow these days MySquar serves up different bollocks.

Purplebricks - Woodford in for a penny, in for a pound

Published 606 days ago

A TR-1 released by AIM-listed Purplebricks (PURP) reveals that Woodford Investment Management - the stamping ground of former idol Neil Woodford - has been piling in to buy more shares in the light of recent weakness in the share price. Is it good news for Purplebricks? I fear not.

Tonight's PrimaryBid offering is Premier African Minerals, deadline 9pm

Published 606 days ago

No advice is offered, but anyone wanting to take part in an underwritten fundraise into AIM-listed Premier African Minerals (PREM) with Primary Bid (which benefits us in a small way) can do so if they are quick: the deal closes at 9pm tonight.

ZAI fallout: no weddings, two funerals and two rescues at the gallows but AIM needs to come clean over GIPO

Published 606 days ago

I commented last week on the silence from four former clients of former Nomad ZAI Corporate Finance as weekend executions were lined up for failing to enlist a replacement Nomad. None of them had said anything since 18/19 October when ZAI was given its marching orders by the Oxymorons. This morning two fell to the advances of the grim reaper, but riding to the last-minute rescue of Ukrproduct (UKR) came Stand Hanson while Polo (POL) was saved by Allenby. You might picture Clint Eastwood and Paul Newman riding in as the trap-doors were released and a well-aimed shot at the hangman’s ropes frees the victims.

Mkango Groupies - do you realise just how 100% fecked Noble Group is?

Published 608 days ago

Shares in Mkango Resources (MKA) rocketed last week after it announced a tie up with Singapore based Noble Group which committed Noble to invest £12 million to get a 49% stake in Mkango's Songwe asset. But folks fail to appreciate that there is no guarantee that Noble has the cash to meet its commitments. It's bonds are junk rated and it is quite simple fecked. And it gets worse.

ZAI scandal – one last minute appointment of Nomad, but the bells are tolling

Published 609 days ago

As I write, it is now less than half an hour to the close of trading on Friday 17 November. On Monday, any company previously employing the services of ZAI Corporate Finance as Nomad which has not found a replacement will be booted off the AIM Casino. They include AIM-China plays Grand Group (GIPO) and Northwest Investment Group (NWIG), Polo Resources (POL) and Ukrproduct (UKR).

Mayan Energy, the dump after the pump - Zac "The Knife" Phillips has 14 questions for the shysters

Published 611 days ago

Ramptastic - if not entirely transparent RNS releases, Bulletin Board and twitter ramping by all the usual suspects with ludicrous price targets, no cash. What on earth did you expect was going to happen next at perennial uber dog Mayan Energy (MYN)? As those who were paying up to 0.9p at peak ramp just a few days ago contemplate how they were used to get away a £2 million placing at 0.6p they should have very serious questions for London's worst Nomad Roland Fatty Cornish who has signed off in recent ramptastic releases. Enter the fray Zac "The Knife" Phillips of SP Angel, the City's top oil analyst who has 14 questions that a Nomad with a shred of integrity and competence would have asked before allowing the releases. Over to The Knife who writes:

Karelian Diamonds – like Conroy, is it placing ahoy?

Published 611 days ago

AIM-listed Karelian Diamonds (KDR), like fellow AIM-listed Conroy Gold and Natural Resources (CGNR), is run by the good Professor Richard Conroy. Tom Winnifrith has exposed a pretty gruesome histoire at Conroy, but what about its little brother?

Frontera – where are the Ud-2 well results? Waseem Shakoor scathing

Published 612 days ago

Yesterday at 1.50pm (the back end of lunchtime no-one-is-watching o’clock) Caymen registered, head office in Houston, Texas, operations in Georgia but AIM-listed (why?) Frontera Resources (FRR) gave an update on its Taribani asset in Georgia. It has the drilling permit. Woohoo. But what about the Ud-2 well? Has the company been taking lessons from UK Oil and Gas (UKOG)?

Solo Oil – death spiral horseshit from Beaufort

Published 613 days ago

This morning AIM-listed Solo Oil plc (SOLO) announced a $5 million death spiral facility with institutional investors and arranged by Riverfort. It is a convertible facility with 8% interest, and an option to repay in cash (with a small penalty). Beaufort Securities (house broker) issued a note this morning. It is utter horseshit – shame on you.

Filthy Forty Walcom – no silk purse, it’s a sow’s ear of a trading statement

Published 613 days ago

ShareProphets AIM-China Filthy Forty play Walcom (WALG) hasn’t provided as much entertainment as some of its fraudulent brethren, but yesterday’s trading statement – issued at 10.36am, so bad news – is a bit of a gift.

Filthy Forty Asian Growth Properties – another big payout ahead but it’s cheerio and an indictment of AIM

Published 614 days ago

ShareProphets AIM-China Filthy Forty play Asian Growth Properties (AGP) has announced that is it throwing in the towel on its AIM listing, and is to dispose of its assets and return the cash to shareholders. This is expected to amount to about 48p per share – to add to the huge dividends paid out over the last couple of years. It is, in many way, a startling result although the reasons behind the delisting cast a pall of shame on the AIM Casino and thus the London Stock Exchange.

Central Rand Gold - no pulse after all in the Peterhouse Parrot, bad news for Fatty.

Published 615 days ago

This must be a candidate for the AIM Casino’s shortest appointment as Nomad: Beaumont Cornish took the reins on 19 October (when ZAI Corporate Finance had its Nomad status revoked) and at no-one-is-watching o’clock on Friday (at 4.47pm) it announced that its shares would be cancelled from AIM first thing on Monday.

Tern – Oh dear, now former Chairman Angus Forrest dumps shares

Published 617 days ago

AIM-listed and perennial jam tomorrow Internet of Things (IoT) investment company Tern plc (TERN) released a TR-1 this morning, showing that former (and now fully departed) Chairman Angus Forrest has been dumping his shares. The stock has slipped a little on the news, but not enough to make me think that the full significance of this selling has really been appreciated by the market.

BOS Global - GM called, we say FIRE CEO ADAM WEBB NOW!

Published 617 days ago

BOS Global (BOS) has received a GM requisition which wins prizes for political correctness but which we back anyway as its main aim is for fire CEO Adam Webb who is man not fit to run a public lavatory let alone a public company.

Beaumont Cornish – who needs the Paradise Papers?

Published 619 days ago

Plastered all over the telly for the past couple of days have been revelations from the Paradise Papers, the stack of documents reviewed by the International Consortium of Investigative Journalists as a major follow-on to the Panama Papers.

Rurelec – more on Peter Earl bid: It HAS fallen apart

Published 620 days ago

Still no statement from AIM-listed Rurelec (RUR) with regard to the potential offer from a consortium led by former boss Peter Earl which may or may not involve IEH Limited. Or was it InterEnergy Holdings. But just as my last piece went out, we got this….

Rurelec – confusion as Peter Earl bid appears to have fallen apart, or has it? Statement needed now!

Published 620 days ago

On 11 October AIM-listed Rurelec (RUR) put out an announcement regarding a possible offer led by former head honcho Peter Earl and involving a company which was named as IEH Limited which may or may fund the deal. Yesterday a company called InterEnergy Holdings said that it thinks it was the company referred to as IEH Limited, and that it has no intention of making as offer – and there is no comment at all from Rurelec. 

Tern – heading for the perfect storm: SELL.

Published 620 days ago

Cynical Bear suggested last week that all was not well with the attempted fundraising by Tern plc (TERN) principal investment Device Authority. Not surprising really, since the funding round is being conducted at a whopping premium to the value of Tern’s holding implied by its share price - investors who were convinced would be better off simply buying Tern stock. He also wondered what has happened to Tern’s investment in new portfolio member InVMA, into which Tern was supposed to be pumping a further £250,000 by 31 October. It is now November 7th and there has been no update. Why?

Nighthawk Shock Resignation - ShareProphets Translation service

Published 620 days ago

Nighthawk (HAWK) is out of cash, drowning in debt, burning cash and its production is falling month on month and that trend is not changing. In plain English it is 100% fecked. Today we have news of a massive boardroom resignation. We offer up a ShareProphets translation service

Strat Aero - pathetic pre-bailout placing ramp attempted - FFS this company is bust

Published 620 days ago

Strat Aero (AERO) is quite clearly insolvent. That its shares have not been suspended pending clarification is just another badge of shame for the world's most successful growth market, that is to say the AIM Casino. Today sees another pathetic attempt to sucker in mug punters to try to pump this worthless stock ahead of another bailout placing. 

Concepta - at 8.25p worth 17.5p, according to house broker

Published 620 days ago

Beaufort Securities is house broker to AIM-listed Concepta (CPT) so you may prefer to take what follows with a pinch of salt. Also worthy of note is that it is owned by FIML (which is owned by a trust for Tom Winnifrith’s dependents) and just to keep Tom Winnifrith happy, here is what Beaufort has to say on yesterday’s disappointing Trading and Order update which he covered in yesterday’s Bearcast when he suggested waiting for the placing expected to follow before piling in.

RedX Pharma – exit from administration, return to trading on AIM from midday but serious questions remain

Published 621 days ago

We have been following closely the story of RedX Pharma plc (REDX) as it ran out of other people’s money and went into administration. Now, after just over five months on the suspended list, the company has been successfully restructured and it is all systems go. This is very good news for the company’s shareholders, but questions remain – not least of which is what happened to the Administrators’ Final Report. The company announced it had published the whole thing on its website but I can’t  find it. And the relevant filings at Companies House are still missing. No doubt they will appear, but surely the return to trading on AIM should come AFTER the market has had a chance to digest it, not before. Black marks all round then.

Strat Aero shares collapsing - time to come clean? The company is 100% fecked after all

Published 621 days ago

Shares in Strat Aero (AERO) have slumped by 30% in early trade to just 0.04p-0.05p - the question is what will the next RNS say: shares suspended pending clarification or confetti blizzard in hugely discounted share placing?

Frontera – pithy comment from Waseem Shakoor suggests doubt in Georgia

Published 622 days ago

On Friday AIM-listed, US-headquartered, Cayman Islands registered and operating in Georgia Frontera resources (FRR) released a Corporate Update on Progress in Georgia. As Waseem Shakoor observes, anyone who was hoping for actual production figures might be a tad disappointed, for what we got was delays and the commencement of a programme of study in relation to its Notice of Feasibility of Commercial Production as announced last April. Oh, and a nice shiny new presentation on the company website (if no countdown clock!)

ZAI scandal: déjà vu for Nomad Fatty Cornish – 11 days to first fuck-up

Published 623 days ago

With ZAI Corporate Finance having lost its Nomad license, 12 companies were searching for a new Nomad all of a sudden, but four of the twelve are now suspended having failed (thus far) to attract the attentions of the Nomad community. However, for Roland “Fatty” Cornish it has been a case of déjà vu as it stepped up to the role for Alpha Returns Group (ARGP) – the AIM outfit formerly known as Digital Learning Marketplace (DLM) from which Fatty resigned as Nomad ahead of a questionable restructuring and CVA into the fine firm it is now.

Aquatic Foods – the excuse this time for no accounts? Silence!

Published 624 days ago

And so it came to pass that ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) didn’t even bother to update the market at the end of October on the supposed progress towards getting its FY16 accounts released – accounts which should have been released by 30 June. The interims to June are also overdue, but there is no statement at all! Step forward those fine fellows at S P Angel, the company’s Nomad.

UPDATED: FCA launches probe into Telit - Sky! Telit says FCA has raised issues

Published 625 days ago

Maybe the regulators are not utterly useless after all. Sky is this morning reporting that the FCA has launched a formal probe into Telit (TCM). It is ouzo O'Clock round at the Sheriff of AIM Towers!

Andalas - what it did not flag up in yesterday's results: its 3 months from tits up time!

Published 626 days ago

Yesterday I pointed out that Andalas Energy (ADL) was almost insolvent and that house broker Beaufort was in denial. But now let us turn to something which Nomad Cantor Fitzgerald somehow thought it apppropriate to omit. Sarah Wharry at Caantor you should be ashamed and if/when Andalas goes tits up you may well get sued just as your firm is over its negligence at the African Potash (AFPO) fraud.

BREAKING: Watchstone fails in High Court Claim against Rob Terry & other Quindell fraudsters but...

Published 627 days ago

This is a small side issue in terms of the greater Quindell (QPP) fraud which will, in due course , see Rob Terry and others go to jail but this week Watchstone Group (WTG) as Quenron is now known suffered a minor setback against Terry and others. We publish the ruling in full below...

Aquatic Foods – what will the excuse be this time for no accounts? Month 4

Published 628 days ago

Here we are again, with the last days of the month playing out and (as yet) no word from ShareProphets AIM-China Filthy Forty poster-boy Aquatic Foods Group. It missed the June 30th deadline to file its FY16 accounts and each month since then we’ve been promised news next month.

Tern – Director appointment dates???

Published 630 days ago

It’s not much to ask for any AIM-listed company to get its Companies House filings right, and consistent with its RNSs, is it? But then AIM-listed Tern plc (TERN) has had a few issues with this in the past. So, Tern, when did Richard Turner join the board?

The Underground World of AIM - Why a top broker has it a bit wrong

Published 632 days ago

A top broker, who shall remain nameless, has this morning had a go at AIM regulators. His ire is prompted by a meeting in a pub where Berkeley Energia (BKY) presented to retail investors. It was by all accounts packed which, since I am a loyal shareholder, pleases me. But I just do not understand what is wrong here.

CyanConnode - how late a director declaration?

Published 632 days ago

Yesterday at almost no-one-watching-o’clock (4.12pm), AIM listed eternal jam-tomorrow pain-today play CyanConnode (CYAN) posted a director declaration RNS. It being issued at 4.12 in the afternoon suggests an announcement other than routine, and when we look at the details we see information which surely should have been released one day short of six months ago!

The Phil "InterX" Crawford curse: Lombard Risk results - all the money's gone!

Published 633 days ago

I have repeatedly warned that Lombard Risk Management (LRM) was hexed the moment that Phil "interX" Crawford seized control. Today's interims validate that thesis - all the money's gone!

Audioboom: pretentious new sales monkey joins but when's the next bailout placing

Published 634 days ago

I sense that this is the start of another pump before the dump of yet another bailout placing by the free speech-denying tossers at Audioboom (BOOM). Today we have news that Oli Walters has joined as head of UK sales. Oli pretentious millennial twist on Oliver perhaps? I am sure that he will fit in brilliantly  and help rack up an admin overhead which is now closer to £600,000 a month than £500,000.

BNN - PWC Report & Whitewash: on AIM wholesale wrongdoing does pay

Published 634 days ago

On 4 September shares in AIM listed China, er.. investment, BNN Technology (BNN) were suspended as the FD quit making serious allegations about founder and CEO Darren Mercer and CEO of China Ops Wei Qi. Today came the whitewash. Remember that shareholders not the board own any company.

Tom Winnfrith Bearcast - The Living Dead Special - FRAUD African Potash is back

Published 636 days ago

At no-one is watching O'Clock on Friday the insolvent fraud African Potash (AFPO) issued three announcements one of which is that its shares will re-start trading on the NEX lobster pot. This is the return of the living dead. I examine those releases which show that Potash is insolvent as well as a company that lies routinely and commits fraud. It is worthless but what does this say about NEX Markets too?

Letter to AIM Regulation - Time to end the MySquar fraud Farce and to Strip SP Angel of its Nomad license

Published 637 days ago

The past week has shown clearly why MySquar (MYSQ) shares should not be traded on any market, even the AIM Casino. I demonstrated HERE that it had lied to investors in an RNS this month. That lie stands uncorrected. I demonstrated HERE that without any doubt it had committed wholesale securities fraud on July 31. This was chapter and verse stuff and MySquar is now exposed. Yet nothing has happened. As such I have written to my pal the bogus Sheriff of AIM, Mr Marcus Stuttard the head of AIM Regulation

Chapter & Verse: How MySquar committed securities fraud on July 31 using related party companies

Published 638 days ago

It is clear that Nomad SP Angel does not care if its client MySquar (MYSQ) issues lies via RNS and it has not bothered to ask the one question that would show very clearly the Securities fraud committed by its client on July 31. It is a sorry state of affairs and I shall be writing to AIM Regulation and to the chairman of the LSE later to ask that SP Angel's license be revoked as it is clearly not fit and proper to run a public lavatory let alone be a Nomad. But now for John Meyer and his fellow dullards at SP Angel here is how your client defrauded investors.

MySquar - video of CEO Erik Schaer lying

Published 639 days ago

The LSE Asylum recent hosted an evening for its moronic readers at which MySquar (MYSQ) presented. Afterwards its CEO was interviewed. Natch PROVEN RNS LIAR Erik Schaer told at least one whopping lie ( sales in the Quarter ending September 30th were NOT 400% up on the prior year). Natch the interviewer did not ask Erik about the securities fraud or the fact that MySquar was running out of money. Instead he was allowed to LIE that the last funding was to be used "for acquisitions and investments". Nothing to do with keeping the lights on as it burns cash then. Puke. Keep selling - target price 0p. How on earth can Nomad SP Angel stand for this nonsense and ask us to take it remotely seriously?

Tom Winnifrith Bearcast: Another slam dunk lie in the MySquar trading statement - time for correction number 2

Published 640 days ago

Oh dear, oh dear. This is pretty simple maths although clearly beyond the wit of clueless Nomad SP Angel but in this podcast I demonstrate clearly another slam dunk lie in the MySquar (MYSQ) trading statement of last week and corrected version of this week. Time for another correction? But it gets worse. I remind you of what SP Angel needs to establish to show that MySquar only breached AIM Rules rather than committing wholesale fraud (ref July sales) but now suggest that its claims re September comparatives might bear scrutiny as well. And there are some very fishy rumours coming out of Singapore that SP Angel might consider as it decides whether to quit or not.  I move on to cover Paternoster Resources (PRS) after its latest bad news and explain why its NAV is illusory and then ask readers for help in outing which oil & gas stock Cornhill is raising $15 million for today at a discount of 12% to some share price or another.

Why an ASA complaint is such a major red flag - case study Sabien

Published 640 days ago

Natch the AIM listed uber dog Sabien (SNT) never got around to mentioning it but, like Purplebricks (PURP) today, it was censured by the Advertising Standards Agency, ASA, back in January 2013. Good companies just do not need to mislead clients.

To be censured by the ASA once is understandable but FOUR times looks like carelessness - Purplebricks!

Published 640 days ago

I apologise to another Anglo-Irishman for the misquote. The advertising watchdog the ASA has for the fourth time in 18 months slammed Purplebricks (PURP) for lying to potential customers. Let's bve clear: companies with a good product can afford to tell the truth. Natch Purplebricks says it has changed its adverts and there is nothing to worry about. But that is on just two days data....

Northwest Investment Group – heading for the knackers’ yard?

Published 641 days ago

With ZAI Corporate Finance losing its Nomad status on Thursday, its client companies are running out of time to book in a replacement to avoid suspension. And that brings us to ShareProphets AIM-China Filthy Forty play Northwest Investment Group (NWIG) – the investment company which, after seven years, has invested not a cent.

FRAUD: MySQUAR fesses up to error in profits warning but still will not answer the big question re FRAUD

Published 641 days ago

What on earth is clueless Nomad SP Angel thinking? Its client MySquar (MYSQ) last week issued a (lack of) profits warning which means that it has either committed securities fraud or merely a massive breach of AIM Rule 11. Investors need to know what its sales were in July (as opposed to the July-September average given) in order to know how bad this will be. I have pressed SP Angel to force a statement and indeed the retained broker Beaufort has - to its enormous credit - also pressed but instead...

ZAI scandal: first clients announce new Nomad, but ten facing suspension on Thursday

Published 641 days ago

Last week we had the shocking announcement of the culling of ZAI Corporate Finance as a Nomad by AIM, apparently due to a hip operation on one of its Qualified Executives. Of course, there is more to this than meets the eye, as discussed by Tom Winnifrith HERE. But aside from the actions of AIM as judge, jury and executioner – all behind closed doors – there is the issue of what happens to the clients of ZAI who use it as Nomad. Of twelve companies which announced they were looking for a replacement last week, we have now had two transfer – to Northland Capital Partners.

Telit: six reasons why the shares are still heading to 0p

Published 643 days ago

Having bottomed at 105p, shares in Internet of Things/blatant fraud Telit Communications (TCM) bounced to almost 200p but have now slid back to 157.5p. Here are six reasons why they are going to head sharply lower in the next three months and will in due course go to zero.

Central Rand Gold – nah mate, this Peterhouse parrot ain’t dead, he’s resting

Published 644 days ago

Central Rand Gold (CRND) is already suspended from trading on AIM and under AIM Rule 41 will be given the one-way trip to the execution chamber if it hasn’t sorted its problems out by 11 November. It is an uphill task, not to mention the striking off of its Nomad, ZAI Corporate Finance, as from 19 October. Now shareholders are being asked to sign up to a dilution to almost nothing, as outlined in yesterday’s 3pm RNS. What’s not to like!

Could UK Oil & Gas head back to 1p? Waseem Shakoor muses

Published 645 days ago

My good pal the bear raider Waseeem Shakoor posted a few thoughts on UK Oil & Gas (UKOG) this morning over at ADVFN. He, like Lucian Miers, is now well in profit but staying short at 4.6p. I explained in bearcast why he is right to do so. Here is Waseem...

Milestone is worthless: sell

Published 645 days ago

Nigel Somerville raises a red flag about AIM uber dog Milestone (MSG) HERE but is too nice a guy to point oiut just how worthless and overvalued this crock is. I am not so nice.

Rurelec – in the twilight zone as Peter Earl leads a potential offer

Published 645 days ago

Peter Earl, the former CEO of Rurelec (RUR), has come forward with a potential offer for the company. As bizarre development go, this is right up there with the best of them. Next up the re-appointment of Rob Terry to Watchstone (formerly Quindell)?

Milestone Group – surely not another dodgy share issuance?

Published 645 days ago

On Wednesday at 2.13pm AIM-listed Milestone Group (MSG) knocked out a TR-1 RNS. Nothing unusual about that, but hang on – what about the dates?

MySquar (target price 0p) - let's work when the cash runs out

Published 646 days ago

The first pressing issue with MySquar (MYSQ) is whether it has committed securities fraud or merely driven a coach and horses through AIM Rules or both. I hope that either SP Angel or Beaufort will force it to reveal July sales numbers to give us an answer. The next question is when does it run out of cash? Here is my best estimate.

Tom Winnifrith "well educated and well read" says MySquar boss Schaer as Pizza Hardman Atwater grills him

Published 646 days ago

The first question at the LSE Asylum moron-fest with MySquar (MYSQ) boss Erik Schaer was about me. Apparently the old rogue thinks that I am "well educated and well read." Well he ain't wrong. But flattery will get him nowhere. I sent Pizza Hardman Darren Atwater along to grill him and the questions only mount.

Beaufort on MySquar - is this the worst broker note of the year?

Published 646 days ago

Clearly no-one told Belfort Securities that its star client in the fraud sector, MySquar (MYSQ) was going to have a disastrous lack of profits warning today which exposed how it had massively misled investors for months. Because yesterday it urged its clients to fill their boots at 4.02p with a 21p target. At least this shows that at Belfort the Chinese walls between research and broking have no chinks in them. The shares are now 2.98p and are worth 0p. Over to Belfort.... 

ZAI scandal – the rush to sign up a new Nomad already under way….for some more than others?

Published 646 days ago

In the wake of AIM’s shocking execution of ZAI Corporate Finance last night – announced not once but three times at 6.15pm – the collection of AIM-listed to-be-former clients of that Nomad firm has been keen to get a message out to the market that the search for a replacement is already well underway.

An Open Letter to SP Angel, Beaufort Securities and AIM Regulation re shamed MySquar

Published 647 days ago

I have written a letter to Nomad SP Angel, broker Beaufort Securities and the oxymorons at AIM Regulation re shamed MySquar (MYSQ). Has it committed a massive breach of AIM Rules or Securities fraud or both and will anyone do anything about it. The letter follows:

MySquar - another marriage made in heaven: it's presenting to LSE Asylum members tonight. Or is it?

Published 647 days ago

After today's shocking revelations from MySquar (MYSQ) only a complete anhd utter moron would consider buying the shares. Luckily for CEO Erik Schaer he is set to meet a few dozen of the stupidest people on this planet this very evening.

Exclusive: AIM Kills ZAI as a Nomad - the full story the LSE is desperate you do not hear

Published 647 days ago

At 5.45 PM yesterday Denzil Jenkins of the AIM Regulation team called Nomad ZAI. No-one answered so he left a message on its answerphone informing the Nomad that it was to lose its Nomad status at 6 PM that day and that its clients would be contracted at that time with the news. Jenkins followed this up with an email saying that ZAI could appeal but when you are going to lose all your clients what is the point? In fact the events of yesterday are just part of a story which shows AIM in a terrible light as a secretive and oppressive body covering its own failings with scapegoating and showing no regard for natural justice or any sense of fairness.

Haydale – up to £9m fundraising on (piss poor) results release day...TIMBER!!

Published 647 days ago

AIM-listed Haydale (HAYD) joined Applied Graphene (AGM) on the heavily discounted fundraising trail yesterday from the graphene sector of AIM (albeit it has other products as well). Not only has it announced its full year results to June, it offered the begging bowl at not less that 120p per share. Given that the stock closed last night at 176p, it suggests that the company was expecting a frosty reception. At the low point the stock was trading down 54.5p at 121.5p before a recovery to 125.5.

Strat Aero - as GM looms will a refinancing be possible at all?

Published 648 days ago

On 17th October long suffering shareholders in Strat Aero (AERO) will be asked to approve a 1 for 10 subdivision of their shares in order to get a refinancing away. But the maths now look so bleak that one asks if the fat lady should pitch up to the GM as she could well be called on to sing very soon indeed. As a reminder...

Applied Graphene - the proven liars undertake £10 million fund raise at just 36p - bear call at 120p 4 weeks ago vindicated

Published 648 days ago

On September 15 2017 I explained why the folks who run Applied Graphene Materials (AGM) were slam dunk proven liars and predicted a bailout placing. Hey ho. Vindication did not take long. Today we are told that there is a book build on a placing to raise £9 million + at a minimum of just 36p with a £1 million open offer also planned. The shares have crashed by 23p to just 40p bid. Another win for the Sheriff.

When is stealing $2.4 million not a sackable offence? When you are chairman of an AIM company of course!

Published 648 days ago

Well it is now official. It is perfectly acceptable for the chairman of an AIM listed company to take $2.4 million of a company's cash without permission. You and I would call taking someone else's (that is to say shareholder's) money theft or stealing. But on AIM it is simply an unauthorised loan. Pas de probleme mes amis!

Sound Energy video - 100% pure cliche ridden bullshit

Published 649 days ago

I have explained many times before why, on fundamentals, Sound Energy (SOU) is a slam dunk sell. Now watch this short promo video. This is pure unadulterated cliche ridden bullshit and, inadvertently, makes the bear case better than anything that I could write.

Tern – was Device Authority’s NAV £2m or $10m as at FY16? Does It depend on whether you want to invest?

Published 651 days ago

Having taken another look at the website of US Capital Partners (who are raising cash for Device Authority Ltd, currently majority ownerd by AIM-listed Tern plc) I see the sale is now advertised. I note also that  (on time) Device Authority Ltd has itself filed account for 2016. Now in theory, one would have thought the numbers would bear some form of resemblance….after all, they are for the same company in the same period. So what gives?

Conroy Gold and Nat Res: look at the timeline over Warrant Exercise and Placing

Published 651 days ago

I have a question for Professor Conroy, of AIM-listed Conroy Gold and Natural Resources infamy. Tom Winnifrith tells us that the paperwork for the warrants exercised by him and by his sidekick (which were announced on Wednesday last week) was filed last Sunday. We also learnt yesterday that the cash went straight back out of the kitty to repay Conroy/Jones by settling director loans - apparently ahead of term. 

The two big takeaways from the Conroy GM which make its shares a slam dunk sell to halve from 25p

Published 651 days ago

The Conroy Gold & Natural Resources (CGNR) GM voted c 5 million to 4.1 million to back the current lifestyle funded, rule breaking board led by 84 year old Professor Moriaty and not the rebels From attending the meeting there are two takeaways which tell me the shares will collapse next week and proof of just how grossly misleading an RNS from Wednesday was.

Tom Winnifrith Bonus Bearcast - Meeting Methuselah & his pals at the travesty of a GM that is Conroy Gold

Published 651 days ago

This GM is sheer comedy. I have proposed all five resolutions to oust Professor Conroy and his sidekick Maureen Jones and to install three rebels. I quizzed the Professor and his coterie of aged disciples clearly despise me. I report back on the almost comic proceedings at the Conroy Gold & Natural Resources (CGNR) GM and shameful admissions made by the evil Prof.

Tom Winnifrith Bonus Bearcast - a total fucking waste of 45 minutes of my life. The San Leon GM

Published 651 days ago

Recorded at the Teeling distillery in Dublin (no jokes please, I am stone cold sober ahead of battle with evil Professor Conroy shortly), I reflect on 45 minutes of my life wasted at the San Leon (SLE) AGM. I am a bit angry with all sorts of folk and the language might reflect that.

Professor Richard Conroy & Conroy Gold now under Central Bank of Ireland Investigation - source

Published 652 days ago

The Central Bank of Ireland handles the sort of regulatory functions that in the UK the FCA makes such a bollocks of undertaking. A source very close to the situation has revealed that Professor Richard Conroy and Conroy Gold & Natural Resources (CGNR) are now under a preliminary investigation after the events of the past week.

Purplebricks bullies another critic with fascist lawyers letter from Schillings but Chris Wood bites & fights back

Published 653 days ago

Having received a fascist lawyers letter from heavyweight lawyers Schillings myself I know that it can be quite intimidating. Mine (HERE) was on behalf of the fraudsters Quindell (QPP) and I told Schillings that I would "see you in Court bitchez." I knew Quenron would not dare go through a disclosure process. Estate Agent Chris Wood is armed with the same knowledge and has thus responded robustly to a missive on behalf of Purplebricks. I have chatted to Chris at length today and, as someone convinced, that Purplebricks is a zero I am happy to republish the missive from Schillings  and the response of Chris which adds mountains of evidence to the fact that Purplebricks is a can of worms which is spending ever greater sums trying to gag critics with fascist missives from expensive lawyers. Over to Chris:

Frontera – that Primary Bid placing

Published 653 days ago

Well, well, what a surprise: AIM-listed Frontera Resources (FRR) has raised cash in a placing. Well OK, it is not a surprise at all. As I pointed out HERE the works programme of the company was going to cost a few quid which it simply did not have. As we shall see, the workover rig out at the Ud-2 well in Georgia has prepared the site for testing of gas bearing intervals but until last night there was no money to pay for the testing.

Management Resource Solutions Fined £85,000 by LSE but this is a whitewash and cover up

Published 653 days ago

Management Resource Solutions (MRS) has today been fined £125,000 (reduced to £85,000 for co-operating with the LSE) for lying to investors back in 2015. But this is a whitewash and a cover-up protecting the establishment. The LSE notes that only the FD remains from 2015 and finds he was blameless. Cock. There is no censure of the Nomad (Northland) which was reckless in its lack of due diligence. How do I know this? Because it took me 30 minutes of internet research to expose this scandal back in April 2015 HERE.

BREAKING: Conroy Gold & the evil Prof try to rig GM by illegally adding shares to voting list

Published 653 days ago

At 2 PM yesterday, Capita Registrars signed off on a shareholder list at that point as being those who could vote at Friday's GM called to oust fat cat bosses Professor Richard Conroy and his henchwoman Maureen Jones from Conroy Gold & Natural Resources (CGNR). Shortly before 2 PM the Professor called Capita and added 500,000 shares to the register - probably enough to swing the vote. What he has done is wholly illegitimate and must be reversed at once if Capita, Nomad Allenby and AIM Regulation give a damn about their own rules and common justice.

Professor Conroy exercises massively out of the money warrants to keep his gravy train going

Published 653 days ago

On Friday shareholders in Conroy Gold & Natural Resources (CGNR) will vote on whether to oust chairman Professor Richard Conroy and his sidekick Maureen Jones The dastardly duo are doing everything they can to cling on as the vote will be tight.

Frontera – dodgy RNSs which don’t add up

Published 653 days ago

I’m getting terribly confused about the recent conversions by YA II PN (aka Yorkville) of Series A Preferred Convertible Shares in AIM-listed Frontera (FRR). I refer to the 2017 interims and the recent RNSs announcing the conversions.

Midatech Pharma – a reader asks what we think (it’s not good….the curse of Neil Woodford (again)

Published 654 days ago

I have to say I haven’t come across AIM-listed Midatech (MTPH) until now. However, with interims results just released perhaps I could get a handle on it. The problem is that the interim report has a few gaping holes in it, all of which leaves a strong sense of unease. The unease in increased when I note that the recent bailout placing (at a whopping 31% discount) showed up Woodford Investment Management as a major holder. Oh dear, not a good start….

More PR pumping at Sound Energy - valuation absurd

Published 654 days ago

We have warned you often enough that the valuation of Sound Energy (SOU) is que absurd even though the shares, at 55p, are well off 99p year highs. Still anyone not using today's "news" from Morocco as an opportunity to sell is nutso. Here is how a leading broker called it: 

Oi Milestone now tell us about that missing £1.25 million

Published 655 days ago

Having correctly predicted that useless AIM rule breaking Deborah White would get the order of the boot as CEO of Milestone Group (MSG) my first question for her temporary replacement Tony Sanders is whatever happened to the missing £1.25 million?

Competition Result: dismal showings on interims deadline day

Published 656 days ago

Entries ranging from a rather optimistic zero up to a more sorrowful 19 was the range set by ShareProphets readers, but what answer did the global shorting conspiracy come to?

InternetQ - what are the dodgy bubbles hiding now - accounts overdue....

Published 657 days ago

In December 2015 from my winter base in Greece I ran a series of articles, starting from Athens with Love, which, I believed, quite clearly showed that the Greek, AIM listed company InternetQ (INTQ) was a fraud. Specifically I demonstrated that its music streaming business Akazoo was a sham. The company denied this and in the end its boss Panagiotis Dimitropoulos and fund manager Tosca paid c£20 million to buy out minority shareholders and take InternetQ private. It is now called Akazoo Ltd. The Sheriff is still on the case

Filthy 40 Northwest Investment Group – Interims from the investment company that doesn’t invest

Published 658 days ago

Well here we are seven years (to the balance sheet date) on from the listing of ShareProphets AIM-China Filthy Forty play Northwest Investment Group (NWIG) and the interims are out. How close to meeting its investment policy is it now?

Telit - predictably dire bullshit earnings warning amid vague statements

Published 659 days ago

Yosi Fait the proven insider dealer who runs AIM Casino posterboy Telit (TCM) because Sam Smith's morally bankrupt Nomad FinnCap does not care if its client firms are run by criminals, has served up a bullshit heavy (bogus) profits warning.

Tern – ‘fesses up that Device Authority fundraise first close delayed, revenues tiny

Published 659 days ago

Well, well, well: last Friday I suggested that the fundraise advertised by Tern in an RNS dated 11 August which was expected to reach $2.5 million at first close by the end of September appeared to have run into some difficulty. A week later Tern has finally got arround to confessing that first close is now expected to be during October.  It seems that the company still needs a bit of help from ShareProphets Nomad Services.

Advanced Oncotherapy Interims: cash-guzzler extraordinaire but the tank is empty

Published 659 days ago

AIM-listed Advanced Oncotherapy (AVO) has released its interims results on deadline day. The highlights (if that is the right word) come from the cashflow statement, where cashburn appears to be almost £2 million a month. And then there is the company’s statement of working capital which, although technically correct, is a grossly misleading figure.

Filthy Forty Aquatic Foods - still no FY16s but at last an FD

Published 659 days ago

ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG) has at last appointed a new finance director to replace the previous incumbent who left all of a sudden as the company announced it was unable to release its FY16 numbers. Good news...er, well sort of.

AIM-China Grand Group interims (the day before suspension) – lots of cash, why no interest?

Published 659 days ago

AIM-China play Grand Group (GIPO) has released its interims to 30 June – one day ahead of the suspension of its shares on the world’s most successful growth market – about which there was no comment at all! This is therefore the last call to gain an exit ahead of suspension.

COMPETITION - Interim Results deadline tomorrow, how many dismal showings?

Published 659 days ago

We know how much you all like a good competition - especially when there is no prize whatsoever! So with deadline day tomorrow for interims - and a good few still being worked on it seems - how many disappointments will we get by the close of the RNS system tomorrow night?

K3 Capital – placing of locked-in shares complete…..oh, and the buy-back is binned

Published 659 days ago

As Tom Winnifrith pointed out on today’s Bearcast, there seems to be no value in contractual arrangements any more. Shares subject to a lock-in? No problem, we’ll sell them anyway. And that brings me to K3 Capital Group (K3C). Like Tom, I have no idea what the company does and frankly nor do I care. But I do wonder whether things are going quite so well at the company in the light of this morning’s news. It wasn’t the sales which concerned me (although that was bad enough), it was what came with them.

Entertainment One – greedy pig board reflects on feedback…and rewards the CEO immediately

Published 659 days ago

Main market-listed Entertainment One (ETO) is a company I had a soft spot for until not so long ago, but the voting results from its AGM yesterday leave rather a bitter taste – especially in view of the company’s reaction to it.

Calling Co-Conspirators in Dublin - what are you doing a week tomorrow?

Published 660 days ago

As I explained in today's bearcast, Professor Moriaty, the founder and chairman of the AIM listed lifestyle company pretending to develop a gold mine that is Conroy Gold & Natural Resources (CGNR) is currently the Number One target of the Sheriff of AIM and I am flying to Dublin on 6 October to nail him.

Former Afren bosses charged with $400 million fraud - good work SFO. Rob Terry next?

Published 662 days ago

It has taken two years but two former bosses of Afren (AFR) will tomorrow be charged with fraud. Watch out Rob Terry your time will come too. Well done the Serious Fraud Office. 

Frontera - no reason for share price movement. Timber....

Published 662 days ago

AIM-listed Frontera Resources has watched its share climb from 0.1p to peak earlier today at 0.78p. No doubt the BBMs have celebrated their collective superiority and intelligence. Except that even the company now tells us that there is no reason for the rise. 

Westminster Group's paltry placing is not enough, Mr Market has given up

Published 662 days ago

At the weekend I flagged up that Westminster Group (WSG) was at death's door and needed a bailout placing ASAP. Today it announced that it has raised a paltry £750,000 gross at just 10p. Any company chaired by the loathsome ex Tory MP Tony Baldry, of 3DM infamy, is a no go for me but it seems that Mr Market agrees with the Sheriff. Here is why Baldry's Westminster is toast.

LoopUp - another AIM joker

Published 663 days ago

Listed in August 2016 on the AIM Casino, LoopUp Group ( LOOP), says that it is a premium remote meetings company. News today is uninspiring and its valuation is crackers.

Tern – more acquisition news, but when’s the (yet another) placing?

Published 663 days ago

AIM-listed Tern plc (TERN) has announced that a new synergistic investment into InVMA, a key strategic partner for Device Authority. All well and good, but where is the money coming from?

AIM-China play Grand Group – end of the road in sight?

Published 663 days ago

A brief note to flag up that AIM-China play Grand Group (GIPO) has until the end of this coming week to comply with its investment policy or be suspended from the Casino.

Advanced Oncotherapy – interims preview

Published 663 days ago

Joining in with Cynical Bear’s run of interims previews, I thought I’d take a look at our old favourite, AIM-listed Advanced Oncotherapy (AVO). The history here has been nothing short of a disaster in the last 12 months or so, and appears to be now culminating in a potential cash-crisis.

China fraud Aquatic Foods – what excuse will be offered this week re overdue FY16 accounts?

Published 664 days ago

It’s that time of the month again: ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) seemed to promise its delayed FY16 accounts by the end of the month. In June the excuse was it couldn’t get its cash out of China, but the directors were going to pony up so as to pay certain advisers (ie the Auditor) and the results would be out in July. Oh, and the next day the CFO (who had been in post less than a year since the previous incumbent walked) resigned with immediate effect - having signed off the RNS.

Tern: how’s that fundraising for Device Authority going?

Published 666 days ago

Some while back – on the 11 August – AIM-listed investment company Tern (TERN) offered up details of a proposed fundraising for its majority-owned investee Device Authority. We were told that a term sheet had been signed with US Capital Partners to raise new equity based on a pre-money valuation of $36 million, and that first close was expected to be in September, with a minimum subscription of $2.5 million. So why is there no mention of any of this on the website of US Capital Partners?

Nyota – a complete shambles and horror show as AIM completely disgraces itself once again

Published 666 days ago

Last night at 5.25pm Nyota Minerals (NYO) announced that its shares were being booted off the AIM casino. The roll call of shame on this one is appalling. We have AIM Regulation, broker Peterhouse and the directors of the company seemingly all at fault here, not to mention former Nomad Beaumont Cornish and two further Nomads, ZAI Corporate Finance and Allenby being dragged in. It is a true horror show. But rather than look in the mirror, the directors pointed the finger at ShareProphets – blame the media, the investigative journalists, blame evil Tom Winnifrith and myself, Nigel Somerville. This is shocking.

Tom Winnifrith Bearcast - I'm so ffing angry with Amryt, I'm off for coffee with the fit young mums

Published 667 days ago

I am a shareholder in Amryt (AMYT) which has had a placing today. I am furious and feel shafted. The shares are almost certainly cheap but I feel livid so am off, with Joshua, for coffees with the fit young mums. I also comment on i3 Energy (TOAST), 88 Energy (88E), Frontera (FRR) and ADVFN (AFN).

88 Energy - grim Alaska news ahead of placing - you were warned!

Published 667 days ago

How the Bulletin Board Morons laughed at me as I warned in the strongest possible terms that 88 Energy (88E) shares were a slam dunk sell and that drilling of the Icewine well was not going well. Please form an orderly queue morons I guess you did know better than a trained oil analyst after all. The shares have slumped by 0.75p to 1.25p but a market cap of £56.9 million is still way too high. There is worse to come.

Concha – keep the lights on placing (by Peterhouse) at the dead of night. Or was it broad daylight?

Published 667 days ago

Last night it was announced at 4.43pm that AIM-listed investment company Concha (CHA) had raised gross proceeds of £420,000 in a keep the lights on placing at 0.35p. The company trumpets that it was at a discount of 8% to the close the previous day, which makes it seem good value, although the shares cratered from 0.57p at around 1pm on the day of the announcement. No insider dealing there, then. 

Tom Winnifrith Bearcast - do not get fooled by Watchstone's cash claims & shoot the scumbag "rebels" at Stratex

Published 668 days ago

Those seeking to oust the board at Stratex (STI) have not been playing with a straight bat as an RNS late yesterday made clear. They are vermin who should be sent packing. Ditto Professor Conroy of Conroy Gold & Natural Resources (CGNR). I have news on his latest courtroom scrape in Dublin and also on the Afren (AFR) whistleblower to whom I make a generous offer. I am warming to Blur (BLUR) after today's placing and am almost tempted to nibble now that ghastly Phil Letts and his even more ghastly Mrs have gone. There is a detailed analysis of interims from Watchstone (WTG) - Quindell as was. Do not get suckered by that headline cash number. It is not real and the shares are a sell. Finally there is an update on the African Potash (AFPO) and Paragon Diamonds (PRG) litigation. 

Tom Winnifrith BONUS Bearcast: Playing Sam Antar's fraudster game: a Purplebricks special

Published 668 days ago

Let us be clear: Purplebricks (PURP) is not a fraud but today's publication of customer reviews - that Purplebricks is desperate for you not to see - is damning and suggests a business model that is based on taking £1000 from large numbers of "customers" who get nothing in return. That is not sustainable and is why the shares are worth 0p. The Sam Antar reference is about how Purplebricks responds and that, in turn, will determine the speed of its collapse. That it will collapse is a given.

Frontera – YA cashes in convertible shares at 0.09p: share price madness!

Published 668 days ago

AIM-listed, Cayman Islands registered, Houston (USA)-based and with Georgia operations Frontera (FRR) has announced that YA II PN Ltd (aka Yorkville) has cashed in by converting convertible stock at just 0.09p. With the shares having raced up from sub-0.1 pence to 0.3625p earlier today, on the back of a series of soft PR interviews, website updates and corporate musical chairs, private investors are once again being screwed.

BREAKING: Purplebricks - the Dynamite reviews it is utterly desperate you do not see: SELL Target price 0p

Published 668 days ago

These are the genuine reviews on AllAgents.co.uk that Purplebricks (PURP) has attempted to ensure that you do not see by sending threatening lawyers letters as we exposed yesterday. As you can see they are dynamite and show quite clearly a flawed business model which sees customer after customer ripped off. Word of that is spreading which is why this company will NEVER make a profit and will sooner or later run out of money and go bust. The shares are a sell at 380p - target price 0p. Now read on and wonder why folks like Neil "nomates" Woodford and Roger Lawson want to own these shares... PS If Purplebricks wants to threaten me to remove these posts I will take great pleasure in seeing the bitchez in Court.

BREAKING: AllAgents hits out, in formal statement, at Purplebricks for trying to suppress genuine reviews of its shoddy service

Published 669 days ago

Earlier I revealed how the UK's largest independent reviewer of Estate Agents had blocked Purplebricks (PURP) after it threatened legal action if Allagents.co.uk continued to carry reviews of its shoddy services which were anything other than flattering - 71 (half) of the reviews were bad and Purplebricks demanded they be removed. Now Allagents has upped the ante with a formal statement which reads:

Tom Winnifrith Bearcast: Eric Schaer of MySQUAR your soul will burn in hell you bastard & your company is a POS too

Published 669 days ago

A recent statement by MySquar (MYSQ)confuses genocide and mass rape with "civil unrest". This is obscene and shows that the company is morally bankrupt. Its CEO Eric Schaer will see his soul burn in hell for this and it makes me unspeakably angry. The company is a worthless piece of crap but promoting that is not now Eric's biggest sin. All is explained in this podcast. I also cover China New Energy (CNEL), Ryanair (RYA) - see this link - Petro Matad (MATD), FastForward (FFWD) and, in some detail, Paternoster Resources (PRS).

F40 China New Energy Interims: flagging a profit, cashflow statement says otherwise

Published 669 days ago

AIM-China play China New Energy (CNEL) is one of the few remaining members of our Filthy Forty still trading on the Casino. This morning saw its interims to 30 June 2017 released and it claims to have turned over hugely increased revenues of RMB 69 million (c. £7.7 million) and registered a net profit of RMB 17 million (c. £1.2 million) as against the market capitalisation of £6 million. So why are the shares trading 4% lower? Er…look at the cashflow statement! And the company wants to conduct a buy-back of its shares! Ho ho, what with?

BREAKING: Purplebricks fascist lawyers letters backfire as it's blocked from AllAgents.co.uk

Published 669 days ago

With 300,000 reviews, AllAgents.co.uk is the UK's largest independent site for independent reviews of Estate Agents by Customers. It has just taken the unprecedented step of not allowing Purplebricks (PURP) reviews because the AIM listed company was trying to "game" the system by using fascist lawyers letters. That tactic has now backfired in a spectacular fashion.

Andrew Bell of Regency Mines No longer a self confessed Moron - dumps ALL UK Oil & Gas shares

Published 669 days ago

On 8th September I penned a long piece explaining why the valuation of UK Oil & Gas (UKOG), then 9p, was crackers and anyone owning was a moron. My friend Andrew Bell posted a response saying that his company owned the shares, that he was not a moron and this is why I had it all wrong. In light of news today I repost Mr Bell's comments:

BREAKING - Nyota no RNS as it may yet be saved despite AIM incompetence

Published 670 days ago

Nigel Somerville asked yesterday why Nyota (NYO) had not been booted off AIM having lost the services of its Nomad, Roland "fatty" Cornish. There has been no RNS so far but here is what is happening.

Nyota – how low has the bottom end of AIM sunk?

Published 670 days ago

Today is the day that Nyota was to have been booted off the world’s most successful growth market unless a replacement Nomad had been appointed, Beaumont Cornish having resigned in mysterious circumstances. Of course, today is a Sunday, so we should have heard something on Friday. But as predicted HERE, there was nothing. I guess the shareholders always knew where they stood, but now it is confirmed: you are at the bottom of the heap.

BREAKING: Purplebricks - bogus internet reviews on Trustpilot as it launches in the USA

Published 671 days ago

A questionable business model,shocking revelations on Watchdog, very murky management CVs exposed HERE, a complete lack of profits, a sky high valuatione, endorsements from shareholders "nomates" Neil Woodford and Roger Lawson as well as being tipped in the Godawful Midas Column in today's MoS- what could possibly go wrong for Purplebricks (PURP)? To justify its most recent keep the lights on fund raise it had to promise a new expansion strategy. And so on Friday it announced a US Launch. Natch it starts off with patently bogus internet reviews as you can see below. The Yanks are so dumb they will not notice will they?

AIM Listed Applied Graphene and the BIG LIE exposed: BTW it is Placing ahoy

Published 673 days ago

Companies that tell lies to investors are ones that should be avoided like the plague. If you pick a company up on one lie the odds are that there are stacks of others going undetected. That brings me to Applied Graphene Materials (AGM) where I will demonstrate a slam dunk lie. Then we will turn to its looming cash crisis.

Advanced Oncotherapy – is a family member of boss Dr Mike Sinclair worth £269,265?

Published 673 days ago

Shares in AIM-listed Advanced Oncotherapy (AVO) are still languishing well below the par price of 25p and the company must surely by now be running pretty low on cash. But a look at the FY16 accounts throws up some interesting questions over remuneration.

Frontera – shares rampaging higher over a website update?

Published 673 days ago

Shares in AIM-listed Frontera Resources (FRR) have been zooming ahead. Having raised the princely sum of £750,000 (including £250,000 from directors) one might wonder how much of that cash is left over already. That helped pick the stock up from a low point of less than 0.1p per share, but the news that apparently got things really going was the announcement that it has updated its website. Really?

Nyota Minerals – leaving it to the wire

Published 674 days ago

AIM-listed Nyota Minterals (NYO) seems to be leaving things to the wire with reference to the appointment of a new Nomad to replace Beaumont Cornish. The deadline falls over the weekend which presumably means that the guillotine should fall tomorrow if there is no news by close of play.

BREAKING African Potash Class action against Nomad Cantor - chocks away next month

Published 674 days ago

The whistelblower who assisted me in exposing the fraudulent statements made by lyin' Chris Cleverley and African Potash (AFPO) and signed off with no attempt to verify by Stewart Dickson at nomad Cantor Fitzgerald has now assisted those investors who want their money back. Praise be the Lord, Cantor is in the merde.

SHOCKER: Corporate Failures and Censures - the red flags at Purplebricks you ignore at your peril

Published 674 days ago

Neil Woodford, Paul Scott and the man who compares himself to Warren Buffett, Roger Lawson, have no doubt done full due diligence on the manangement at Purplebricks (PURP), notably its founders, the Bruce brothers. Or maybe not...

UPDATED: Don't be locked out from ShareProphets at Midnight TONIGHT! Sign up NOW!

Published 674 days ago

Evil Google and wicked Facebook have sucked all the advertising spend out of online media. We poor content providers do the creative work, the internet giants take the cash. And so we have no choice we must ask you to subscribe to ShareProphets or we must shut down. There are 297 reasons a month why you should pay as little as £5.99 a month for our content.

AIM-China Grand Group – a chance to bail

Published 674 days ago

AIM-China investment company Grand Group (GIPO) has divested itself of its investments and as such has until the end of this month to implement its investing policy or face a share suspension under AIM Rule 40. Another six months with no progress would result in a trip to the execution chamber.

BREAKING: Deborah White the rule breaking useless boss of Milestone to be out by the weekend

Published 675 days ago

Deborah White should have been fired as boss of AIM uber-dog Milestone (MSG) so many times. The company has been a serial non deliverer, shareholders have lost nearly everything and Debs has made out like a squealer being amply rewarded for her abject failure. Then last Autumn was the crime that should have seen her go to jail

Stuttard’s Septic Seven – September update: minus 75%, what about replacements?

Published 678 days ago

Well here we are a few weeks short of the anniversary of the creation of out Septic Seven stocks which we had Red Flagged but were at the time still trading on AIM. Marcus Stuttard, the sham sheriff and head of AIM, obviously had complete faith in the regulatory setup of the Casino which is why this portfolio was set up. After all, if he is completely happy with the regulation of AIM (for which he is responsible), he should be happy to pony up his cash in out basket of diversified stocks. We might consider all members of the portfolio as littered with Red Flags, but obviously he doesn’t and therefore some of the joke PEs are highly attractive.

UK Oil & Gas - you cannot say that Broadford Bridge is commercial - but the share price discounts success: placing ahoy?

Published 681 days ago

The word on the street is that - having raised £6.5 million (gross) at just 0.8p back in May -  UK Oil & Gas (UKOG) has been so startled by the spectacular - and largely unwarranted - re-rate of its shares that it is lining up another, much larger, placing alberit at a material discount to the current share price. The shares raced ahead again yesterday as private investors again fundamentally misunderstood an RNS.

Tom Winnifrith Bonus Bearcast: The Utter Motherfuckers who run Interquest say a final "fuck you" to loyal shareholders

Published 681 days ago

Gary Ashworth the founder and chairman of Interquest (ITQ) was once someone I once counted as a friend.  No more and never again. Gary has behaved like a total prize shit with his 42p per share attempted MBO and a statement at 4.01 PM today was a final fuck you from Gary, CFO David Bygrave and the other complete and utter bastards behind the MBO. Gary I despise you and your pals as you have behaved beyond badly. Today's RNS is a case study in telling shareholders that their views do not matter and that they are about to be ( once again) utterly shafted.  This podcast contains a lot of bad language but perhaps that is the only language that prize shits like Ashworth understand.

Tern – Interims see shares continued decline

Published 683 days ago

AIM-listed jam tomorrow IoT investment company Tern plc (TERN) was pleased to announce its interim results to the end of June 2017. The company may have been pleased, but with the shares currently off by 17% clearly the market isn’t.

The Sheriff of AIM is off to Dublin on October 6 to oust Prof Richard Conroy from Conroy Gold

Published 683 days ago

Conroy Gold & Natural Resources (CGNR) has appointed two new patsy Irishmen to its board to bolster the home team of Professor Richard Moriaty, his ever loyal sidekick Maureen Jones and another patsy Irishman. One of the new guys comes fresh from Circle Oil where he was responsible for "all corporate financial and funding matters." Hmm given how Circle shareholders lost 100% I bet they are rushing to buy Conroy shares. NOT. I guess there is only a limited pool of Irishmen so desperate for a PLC NED gig that they will sign up to take Moriaty's shilling these days. Meanwhile...

Tom Winnifrith Bearcast - BNN shareholders take it up the Arsenal

Published 683 days ago

Links with Arsenal, massive cash burn, China, always missing goals (like the Arse) - that was BNN Technology (BNN), shares in which have been suspended today along with its CEO and China boss. I look at BNN in detail plus Telit (TCM), UK Oil & Gas (UKOG) after my weekend pieces HERE and HERE. I cover Blenheim (BNR) after its joke RNS today and also the dog Advanced Oncotherapy (AVO) after its latest spoof. The Mrs says my headline is crude & arguably homophobic, but I know you will love it and it is not if you take it in context.

BNN Technology – another China disaster: shares suspended as are CEO and COO, CFO walks

Published 684 days ago

Lucian Miers can be heard singing in the bath this morning as shares in BNN Technology (BNN) have been suspended. In the last year alone the shares have dived from over 160p per share to the suspension price of 41p, at which its market capitalisation was still a whopping £94 million. Do the maths, at peak price that’s something like £360 million.

Top Boffin slams UK Oil & Gas analysis as "fundamentally flawed" - new dossier

Published 685 days ago

I have reported before on the work of top geologist Dr David K. Smythe. Last time we carried his work of the various Weald basin drill programmes including Horse Hill & Broadford Bridge Andrew Bell of Regency Mines (RGM) "played the man" as well as the ball and slammed his analysis. I note Regency has been selling down its position not buying and so judge it by its actions not its words. Now we have a new detailed dossier on Horse Hill. 

What scandals are the London Stock Exchange so desperate to hide - the disciplining of Nomad ZAI

Published 685 days ago

There was a High Court Ruling this week which concerns attempts by the London Stock Exchange (LSE) and AIM to discipline the firm of ZAI Corporate Finance, a Nomad, or retained adviser, to firms on the AIM casino. The big question here is what dirty linen the Stock Exchange is desperate to hide. I should declare at this juncture that I am an expert witness in this case.

Breaching banking Covenants - Telit and R4E - which firm did not break AIM rules & commit financial crime

Published 687 days ago

Yesterday shares in R4E (R4E) fell sharply after a profits warning and a warning that it may breach its covenants in the third quarter. I am a shareholder in R4E and happen to think the fall is way overdone, but that is for another time. I want to look at how it handled the covenant issue and what that tells you about the financial crime at Telit (TCM) - which morally bankrupt Nomad FinnCap is okay with.

Telit shares soar on pure hype - it is as if this was not a cash guzzling fraud, founded by a fraudster and run by an insider dealer

Published 687 days ago

Telit (TCM) shares zoomed by 30% yesterday back to 160p, almost the level before it emerged here that its founder and CEO Oozi Cats was in fact Uzi Katz, the Boston real estate fraudster and fugitive from US justice. The latest ramp is news that it might generate some sales from AT&T. Whoopie do.

Filthy Forty Aquatic Foods – still delayed FY16 results Jackanory

Published 688 days ago

Yesterday at 4.14pm ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) updated the market regarding its overdue FY16 accounts. Once again we are left waiting until next month – Godot is definitely coming tomorrow, honest guv, when the new FD is appointed. So nothing to do with the problems getting cash out of China to pay auditors, Nomad fees and director fees as we were previously told?

Frontera: after-hours placing and directors’ subscription

Published 689 days ago

At 4.46pm yesterday AIM-listed Frontera Resources (FRR) announced a placing raising £500,000 and director subscriptions for a further £250,000 all at 0.0975p per share. Compared to the 0.44p per share back in March, when commenting on the announcement of a possible farm-out or joint operation arrangement regarding the company’s Block 12 holding in Georgia (no sign of the deal yet, is there!) the company said it was suspending operations (operations which had already been delayed and tardily announced, according to Tom Winnifrith) I said if I were a holder I’d get on to my broker post haste and sell.

Telit Communications – Non-standard governance arrangements

Published 689 days ago

Telit (TCM) currently has a proven insider dealer as its CEO. Yosi Fait sold ALL his shares two months ago knowing the company had breached a bank covenant and was going to serve up dire H1 numbers. Apparently insider dealing is fine and dandy on AIM. In that vein, pointing out other issues relating to shocking corporate governance may seem irrelevant on the "world's most successful growth market". But if any of Marcus Stuttard or his fucking useless colleagues at AIM Regulation care any more...

Filthy Forty Aquatic Foods – third time lucky with results, or will Nomad SP Angel resign?

Published 689 days ago

We are two days from the end of August and we’ve had diddly squat from ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) which is currently suspended pending accounts. In June it said they would be in July, and that directors were going to pony up to get enough bills paid to see the accounts signed. In July it hadn’t happened and there was no mention of it. Will the accounts appear this time?

My top four short-able shorts in London

Published 690 days ago

It is all very well saying that tiddly little companies like Advanced Oncotherapy (AVO) or Eden Research (EDEN) are worthless cash guzzling frauds heading for 0p but they are just very hard to short. That both stocks will hit zero is a given. In the end frauds always run out of other people's money. What you want are stocks you can short which look almost certain to collapse. And right now you need them badly as a hedge. A hedge against what?

Theresa May the Unacceptable face of Useless - the PM barges in on Mr Crook and Executive Greed

Published 691 days ago

There is no doubt that ex Provident Financial (PFG) boss Peter Crook was a grossly overpaid and useless CEO. The £40 million he trousered in ten years is obscene given the share price collapse and nature of his departure last week. I have noted before that fat cat bosses give capitalism a bad name and allow those who seek to undermine the only way to make the world a better and more prosperous place to attack we capitalists. Idiots like Theresa May play to the gallery in joining in.

Reader Comment of the day - Roger Lawson has new smelly "friends" but needs a lesson in stockmarket basics

Published 693 days ago

It seems that Roger Lawson of Globo and blinkx fame is not impressed by my suggestion that he is a bull of Purplebricks (PURP) and that it might therefore somehow be jinxed. But in a couple of after the pubs opened O'clock comments here last night he focusses the mind on what a select group he himself belongs to.

Red Flags at Night: Bank Holiday Special no-one-is-watching o'clock competition

Published 694 days ago

It’s that time of year again when companies with bad news to slip out at no-one-is-watching o'clock are offered a golden opportunity to get away with it. What better time of year to go for than the end of the summer holidays and the Friday evening before a bank holiday? And so we offer a no-prize sweepstakes: how many dodgy RNSs as adjudicated by the Global Shorting Conspiracy will be released after 4.30 today? Deadline for entries is 4.30 in the coments section below.

What exactly was the Telit Covenant Breach - this will determine how long CEO Yosi Fait should spend in jail

Published 694 days ago

Perhaps Sam Smith, CEO of Nomad FinnCap which appears happy for the CEO's of corporate clients to engage in industrial scale insider dealing, can help us with this problem? What exactly was the banking covenant Telit (TCM) breached on June 30th? The answer will help to determine how long the CEO Yosi Fait should spend in jail for his crimes. While Sam is about it...

UK Oil and Gas and Regency Mines – deal completes, which one is a BUY (if either)?

Published 694 days ago

UK Oil and Gas (UKOG) has completed the transaction with fellow AIM-listed Regency Mines (RGM) announced on 10th July under which a 1.9% shareholding in Horse Hill Developments Ltd heads to UKOG in a cash and shares deal.

Lord Archer, Leather Man Yosi Fait, Jeff Skilling & Martha Stewart odd one out result - some of you are so not 2017!

Published 695 days ago

You cannot. as some of you thought, say that Martha is the odd one out as she is female. This is 2017 and it is all about what gender, if any, you identify as, so we do not know if any of the four fine upstanding citizens below are odd ones out in that respect. Catch up folks. Most of you knew what I was hinting at and stumbled towards the correct answer - the odd one out is Lord Archer.

A letter to Finncap CEO Sam Smith: are you a big supporter of insider dealing?

Published 695 days ago

Generally I would have thought that the CEO of one of London's biggest Nomads, Sam Smith of FinnCap, would have disapproved of insider dealing. It is, after all a criminal offence. But I am not so sure any more. After recent revelations at Telit (TCM) it seems Samantha does not think it is anything to worry about. I have dropped her a letter just to make sure and cc'd in the head of AIM Regulation, Mr Marcus Stuttard, as I am sure he and his colleagues the Oxymorons would like to know where Sam stands.

Arrogant bastard Nomates Neil Woodford explains his latest disaster Provident Financial

Published 695 days ago

Showing not an ounce of humility, the fund manager who seems to have at least three high profile disasters as week, Neil Woodford has posted a comment on his group's blog explaining why Provident Financial (PFG) shares are cheap after yesterday's disastrous warning. But before you rush out to buy it is worth noting that after the last warning (in June) Nomates Neil posted another blog. Nomates had chatted at length to management, he understood the score, the market was wrong and Nomnates had bought a stack more shares. There seems to be a pattern here.

Entu- such a familiar pattern of stupidity and mendacity

Published 696 days ago

Shares in ENTU (ENTU) were off by 13% today so forcing a statement clarifying just how fucked the company is. Either the company gets a refinancing which will see shareholders almost entirely wiped out or the PLC will go into administration which means a 100% wipeout. The shares are now 36% off at 2.25p but that is still more than double where they were on August 2nd when Entu made almost the same admission.

Odd one out Contest: Martha Stewart, Lord Archer, Leather Man Yosi Fait and Jeff Skilling

Published 696 days ago

Ok this really is easy. All you need to do is to say which of the four well regarded and utterly honest individuals below is the odd one out and why. Do your worst. The deadline is midnight tonight (Wednesday)

Nyota – suspended with no Nomad, Peterhouse lines up £550k at just 0.005p. Anything to see here, guv?

Published 696 days ago

Beaumont Cornish resigned as Nomad from AIM-listed Nyota Minerals (NYO) on 17 August with the caveat that it reserved the right to go sooner, as per Nyota’s RNS of 18 July. That statement also announced that Peterhouse subsequently also informed the company that it would resign as broker. Both stepped down as planned, leaving the company suspended on the Casino with bugger all cash. Wind forward to last night (after-hours, natch) RNS and as previously flagged on 15 August, Peterhouse last night was announced to have withdrawn its notice of resignation  and lined up a £550,000 placing at 0.005p. Meanwhile the company tells us that it is confident of appointing a replacement Nomad. It is full RTO steam ahead, then.

A Broker warns you on Bushveld... they do it with mirrors

Published 696 days ago

Once again I return to the subject of the company on AIM with the stupidest bunch of shareholders. The auditors of Bushveld Minerals (BMN) have stated explicitly that the company needs to raise fresh equity to avoid going tits up but shareholders respond by saying "how often have auditors got it wrong?" and a range of other excuses. They just do not get it at all, it is placing ahoy. Now the company has news today which the morons who own this stock seem to think is good. In a private email this morning a top City broker put it thus:

Ooh er MRS: CEO walks the plank, or was he pushed?

Published 697 days ago

A surprise announcement from AIM-listed Management Resource Solutions (MRS) at 9.49am detailing board and management changes. At that time of day it hardly looks routine and it wasn’t.

Three critical days in June & 3 more in July - why acting CEO at Telit Yosi Fait must be fired NOW!

Published 698 days ago

Yesterday there were more revelations about Telit (TCM) which, as I noted, made the position of former FD now CEO Yosi Fait all the more tricky. Now I want to revisit three days in June and three in July - events then make Yosi's position utterly untenable and explain why he must be fired at once. He is guilty of either extreme and sackable levels of incompetence and of lying to shareholders and insider dealing or of just insider dealing. It is one or the other - there is no third way. So there is no way out for Telit, Yosi must be sacked at once.

New revelations: Yosi Fait, Telit's new CEO & friend of the "IDF warrior" must go too

Published 698 days ago

Today's Sunday Times carries new shocking revelations about the shocking lack of corporate governance at AIM fraud du jour Telit (TCM) - surely now the former FD, now CEO Yosi Fait must follow his predecessor the Boston fraudster Oozi Cats/Uzi Katz and be resigned at once

Stuttard’s Septic Seven – August update and news from African Potash

Published 699 days ago

It is August and Marcus Stuttard, the head of AIM, sees his portfolio of AIM stocks selected for him get to within 40 days of a full year. Out of the seven three have been booted off the market, one is suspended (no accounts) and the other was booted off AIM but got listed on the NEX lobster pot until it was suspended on that market as well. But Mr Stuttard is completely happy with the regulatory environment of the world’s most successful growth market.

Telit Communications – how much of a cash guzzler is GainSpan?

Published 700 days ago

In the piss poor results for the six months to 30 June 2017, Telit (TCM) highlighted that it had purchased GainSpan and provided the following rather limited commentary on its contribution to the interim results:

Advanced Oncotherapy – how’s the cash position? Still a stonking SELL.

Published 700 days ago

After a stack of RNSs earlier this year, it has all gone quiet at AIM-listed Advanced Oncotherapy (AVO) since the announcement of the termination of the Bracknor death-spiral. How’s the cash position?

Tom Winnifrith Bearcast: Oozi Cats and the FBI & why Telit could well be tits up within weeks

Published 700 days ago

The failure of the LSE to insist that hapless Nomad FinnCap forces Telit (TCM) to bring in a firm like KPMG to conduct a full forensic review will hurt it even more when this company goes tits up as I noted in a letter to Stock Exchange boss Donald Brydon earlier today HERE.  Two sources tell me that the FBI may have bad news for the Boston fraudster Oozi Cats and his Mrs as I explain in this podcast. But the meat of the podcast is explaining why Telit will go tits up and why that could be within six weeks. Enjoy.

A letter to the chairman of the London Stock Exchange - why no independent review of the Telit fraud?

Published 701 days ago

You may remember that at the last AGM of the London Stock Exchange (LSE) its chairman,, Donald Brydon CBE, 'fessed up to being a ShareProphets reader and as we chatted afterwards he came over as a thoroughly decent man. But he has, yet again, been failed by his minions in their handling of the biggest AIM fraud of the year, so far, Telit (TCM). Lowly gofers such as the head of AIM Regulation, the fake Sheriff Mr Marcus Stuttad,  have allowed Telit to avoid any independent scrutiny of its accounts & business practices despite clear evidence of fraud. That has to change and maybe Brydon will push for that. I have sent him a letter.

AIM Dog Servision: another warning and it is death spiral and dilution frenzy ahead

Published 702 days ago

When serving up god-awful FY numbers on deadline day ( June 30th) it was shown that uber dog Servision (SEV) had serially misled investors and indeed told outright lies over the prior half year. Rover also served up its second profits warning in two weeks with the god-awful numbers and 'fessed up "Our working capital position is tighter than we anticipated" - I should cocoa. Today it got worse.

Andalas Energy: Open letter to FCA & AIM Regulation - Market Abuse & Breach of AIM Rules

Published 702 days ago

I am deeply troubled by events at AIM uber dog Andalas Energy (ADL) on Monday afternoon. This is a company that has form when it comes to breaking AIM Casino Rules but on this occasion it is the advisers at Cantor Fitzgerald, whose actions have alreday cost some folks 50% of their money, who should be hung, drawn and quartered. Sadly we have gone soft on crime but at least they should be clobbered by the FCA for market abuse and AIM Regulation for breaching AIM rules. I have sent a letter.

It has form, shoddy ramping with grossly misleading RNS from Bushveld - placing ahoy + Cheerleader photo: SELL

Published 702 days ago

This is not the first time that Buishveld Minerals (BMN) has engaged in truly sordid and shoddy ramping to get a placing away. Perhaps you remember this expose HERE which allowed me to crack a massively tasteless joke about blow jobs. The point is that pre-placing ramping back last fall left those suckered in with a really bad taste in the mouth. Wind forward to yesterday.

The FRC has got it right as it slams PWC with £6 million fine but also names, shames & fines individual - Nicholas Boden

Published 703 days ago

Back before the world went crazy in the nineties when folks committed or abetted financial wrongdoing they were named, shamed and punished as individuals. That was a real deterrent to crime. Then the world changed and we started fining corporations, banks, accountants and other advisers. The regulators announce seemingly large fines which meant they got newspaper headlines and seemed smart. But the banks and other advisers just treated the fines as a cost of business and so were not deterred from breaking the rules going forward. At least my very good friends at the Financial Reporting Council seems to appreciate that. The FRC is, as such, the UK's best regulator.

Telit - now here is another fine upstanding chap with a senior post: Eran Edri

Published 703 days ago

The board of Telit (TCM) the fraud whose CEO until last week was an undeclared fugitive from justice sure has some colourful chappies in senior posts. There was Uzi Katz, the Boston fraudster himself. Then we had former chairman Avigdor Kelner who has only recently emerged from a stretch in the slammer in Israel. Yesterday we met "colourful" NED Ram Zeevi as I published some US Court papers concerning him. Now meet Eran Edri.

Nyota – no-one is watching o’clock update: no Nomad, Peterhouse back in the frame and placing at a “substantial discount” if a Nomad can be found

Published 703 days ago

AIM-listed Nyota Minerals (NYO) announced a company update last night at no-one-is-watching o’clock. The good news is that we were watching, the bad news for anyone left holding the stock is that Peterhouse is planning to “unresign” itself if the company can attract a Nomad before it is kicked off AIM altogether, with a potential placing at a “substantial discount” to last night’s closing price.

The Love that Dare not Speak its name...an email from FinnCap CEO Sam Smith

Published 703 days ago

On the morning of 15 August 2017 Sam Smith the curvaceous founder and CEO of Nomad FinnCap sent an email to all her crony capitalist pals across the City boasting about her new bestest friends. That was a mistake methinks. This is all a tad embarrassing as you can see below.

News from the Boiler Room - £300k placing at 0.12p, conditional on GM at Inspirit

Published 703 days ago

7.45am Tuesday brought news of a placing by AIM-listed Inspirit Energy Holdings (INSP) for just £300,000 at 0.12p. Even that figure had to be propped up by a £50,000 contribution from (corporate Red Flag) CEO and Chairman John Gunn. It won’t last long, even if they get it through a general meeting to allow it to happen.

Nyota – last chance to get out

Published 704 days ago

Anyone still holding shares in Nyota Minerals (NYO) is staring down the barrel as suspension looms at the close of trading tomorrow, in the absence of the appointment of a new Nomad and Broker.

Andalas Energy you are scum - a day of shame for AIM from this worthless crap

Published 704 days ago

Andalas Energy (ADL) and its loathsome boss Dave "the rule breaker" Whitby represent all is worst about the AIM Casino. The company is worthless and its sole achievement has been an industrial scale transfer of wealth from the many to the few. Even by its own tawdry standards yesterday was a low point and it is a matter that I shall now be asking the authoriies to investigate as, blatant, market abuse. But first we must rewind to August 8.

Telit - Oozi "resigned" the board the Boston fraudster appointed says no PLC fraud but FinnCap declines to agree

Published 705 days ago

Telit Communications (TCM) is spinning hard to suggest that all is well despite its founder, CEO and largest shareholder Oozi Cats being"resigned" today. It started by planting today's RNS in the ever pliant FT yesterday afternoon - the paper of record is now the mouthpiece for fraudsters wanting to spin a line. The timing of that FT plant now exposes the lies of today.  Now comes the formal statement and it does not wash at all and begs massive questions which are just not answered.

FT Reports that Telit "parts company" with Oozi Cats - that's spin from the PR & no longer the issue

Published 705 days ago

The Financial Times, always happy to help a company in trouble try to polish a turd with some PR spinning, is reporting that Telit Communications (TCM) is to part company with its founder, 12% shareholder and CEO Oozi Cats on a permanent basis. After our Boston fraudster revelations of last week Oozi had already stepped down pending an investigation by a law firm Cameron McKenna. After our revelations he was toast. But sacking Oozi is not enough after today's bombshells on this website - this is PR spinning and does not address the issue of wholesale fraud at Telit.

Telit bombshell Part 2 - its Distributors are oft on a par with those of Globo

Published 706 days ago

Earlier today I published a bombshell that demonstrated that Telit (TCM) was Globo v2 - that is to say a FRAUD heading for zero in short order.. One of the points that caused Globo to unravel within days were its bogus distributors. I covered that in some detail in Part 1 of this series but here in  part 2 I offer up some graphics to make my point. Distributors account for only 30% of claimed sales but if they are bogus then is anything genuine? It is game over for Telit, the Fat Lady is getting ready... Enjoy what follows...

Tom Winnifrith Bearcast Special - the culture of corporate lying as I say GOTCHA to Telit

Published 706 days ago

Following today's bombshell there can be no doubt that Telit Communications (TCM) is toast. Companies that lie and deceive so industrially in the way I demonstrated earlier HERE will always end in tears.  In this podcast I look at the culture of corporate lying and wrongdoing and what it means for you as an investor. I look at rent boys at BP then at Quindell (QPP), Globo (GBO) and of course, in the main, at Telit

Telit Communications – Mr Fat Katz unusual remuneration arrangements

Published 706 days ago

After today's complete bombshell which shows that Telit (TCM) is a Globo style fraud and thus utterly worthless what follows may be a tad academic. But, none the less, it is yet another Red Flag which we all should have noticed earlier. Reading through the 2016 annual report of Telit it is apparent that Mr Fat Katz, sorry Mr Oozi Cats, had two unusual remuneration arrangements. 

Want to Get your cash back on the Paragon Diamonds AIM Casino fraud & bust - legal case now imminent

Published 706 days ago

Investors who have lost £900,000 on the Paragon Diamonds (PRG) fraud and bust are now lined up to sue the hapless Nomad ( Northland with QEs Gerry Beaney and David Hignell overseeing the shambles) as an update from class action litigation arranger Peter Petyt sent this morning, makes clear. However we need more folks who were conned to join the party URGENTLY and for two reasons:

Emails sent to AIM Regulation & Nomad Finncap after today's Telit bombshell - this must be suspended 7 AM Monday

Published 706 days ago

This is becoming Globo v2 at a an alarming rate. Today's bombshell dossier on Telit Communications (TCM) nails it as a slam dunk ZERO beyond all doubt. The only way that the shares do not completely crater in the morning is if they are suspended first. And that is exactly what should happen. As such I sent a couple of emails last night. One to tthe head of the Oxymorons Marcus Stuttard and his clueless colleagues, the Keystone Cops at AIM Regulation and the other to the folks at Nomad FinnCap from CEO Sam Smith via head of Corporate Finance Stuart Andrews down to analyst Lorne Daniel with a minor jackal in Corporate Finaance also included in case Andrews is too busy with his polo ponies to read emails on a Sunday. Enjoy!

KERBOOM - THE FULL SHOCKING DOSSIER, New fraud revealed - This is why Telit is Globo Mk2 and why it is going to 0p

Published 706 days ago

Over the past week I have shown that Telit Communications (TCM) is run by a man who fled fraud charges in the US but changed his name to avoid investors knowing, I have flagged up banking covenant breaches, red flag strewn interims and an Italian criminal investigation. But that was just an appetizer. Today I give you a full dossier with shocking NEW material, which shows this is Globo Mark 2. it is a fraud and its shares are going to zero.

Telit Communications: what the bears saw, it's about the balance sheet stupid

Published 707 days ago

After my earlier story about the covenant breach which is, I am increasingly sure, a smoking gun, I explore some trends shown by the financial statements of Telit Communications (TCM) that may have been some the red flags that resulted in hedge funds making Telit the most heavily shorted AIM company - this is all about the balance sheet. It also highlights why some type of fund raise, equity or debt, was almost inevitable in May - without it the lights would have been switched off by now.

Tern announces two fundraisings – how do they compare?

Published 707 days ago

After-hours yesterday AIM-listed Tern plc (TERN) announced two fundraisings – one via Primary Bid for its own coffers and the other a proposed offering via US broker US Capital Partners for its investee company Device Authority. Let’s compare the two.

Today's Primary Bid Offering is from a company whose chairman reported Tom Winnifrith & Nigel to the Old Bill

Published 707 days ago

On Friday at 4.30 Tern (TERN) announced that it was raising £300,000 on a first come first served basis via PrimaryBid. It would perhaps be fair to say that our extensive coverage of this company has not been universally bullish.

Note 5.2 in the Telit statement? Is this the smoking gun? When did it know it would breach covenants

Published 707 days ago

There comes a moment in every Agatha Christie novel when Poirot scolds himself for being so blind to the obvious. I just wonder if for myself and Telit (TCM) that moment was late last night. That the CEO was a fraudster fugitive from justice when he floated Telit is one matter, the crminal investigations in Italy are another but the heart of the issue is the dire financials & possible behaviour of the Norfolk variety. In case you missed it, I refer you to note 5.2 of the most recent interims published August 7.

Conroy hits back at Tom Winnifrith coverage of its sodomisation of democracy, the Prof still does not get it!

Published 708 days ago

I have received a note from Maureen Jones, the close boardroom ally of Professor Richard Moriarty the founder and embattled chairman of Moriaty Gold & Natural Resources (CGNR). Maureen reckons my coverage of the last GM is unfair and wishes to put the record straight. But I am afraid that she and Professor Conroy simply just do not understand why they are in the wrong here and why that forces me and other campaigners such as the top Irish blogger Wexboy, to ensure that we will turn the next Conroy GM into a media circus to see the two ousted. Maureen writes and my comments are in bold.

BREAKING: UK Oil & Gas slammed for lying by top expert,says will have to frack: calls for cancellation of permit

Published 708 days ago

UK Oil & Gas and its partners in Kimmeridge Oil & Gas have sought an amendment to their permit from West Sussex County Council to allow a continuation of drilling at Broadford Bridge. Top geologist, David K. Smythe, Emeritus Professor of Geophysics, University of Glasgow has submitted a detailed application which slams UK Oil & gas for, inter alia, lying about what it was doing and claims that it will have to frack to have any hope of making this operational commercial. On that basis he asks , in a detailed and damning submission, that drilling be halted at once. We have the full report below and it appears damning. The highly regarded professor states:

Tom Winnifrith Bearcast: 3 resignations: Telit (Nomad) & Avanti Coms & Redcentric CEOs - can I claim scalps?

Published 709 days ago

That Telit (TCM) is going to zero is a given as I explained yesterday HERE. But now we need to know why Canaccord quit on May 26 as Nomad. I suggest the reason in this podcast and call for a wider AIM Casino rule change on Nomad resignations. Then it is on to 2 CEO resignations. The bombastic prick David Williams has gone from drowning in debt Avanti Communications (AVN). Avanti is toast but I run through the red flags pertaining to Williams himself and ask a question about his payoff for failure. As for Redcentric (RCN) can I claim this as a scalp? Frazer  Fisher must have known about the mega payroll fraud of March 31 2016 as I revealed HERE. Yet he trousered a big 2016 bonus and sold stacks of shares just after publishing the 2016 number which he KNEW WERE CROOK. This departure is to avoid him being in situe when the FCA, FRC and SFO announce their findings. Actually can the Sheriff claim a scalp on the bombastic prick Williams too? I got the FRC to pan his company and exposed all sorts of Avanti red flags and naughtiness. Two scalps in a day - ouzo time?

RedX – Administration proposals raise awkward going concern questions

Published 709 days ago

The administrators to (suspended) AIM-listed RedX Pharma (RED) have published their proposals for the rescue of the group. The good news is that something will indeed be salvaged, but details of what went wrong look to raise serious questions of the company and its Nomad – none other than Cantor Fitzgerald. You might remember that name with reference to the African Potash (AFPO) fraud where it is to be sued for its negligence.

Telit - any chance of an update on the BAMES 16m Euro criminal investigation in Italy?

Published 709 days ago

You might have thought that the 1991 Boston Real Estate fraud was the only brush Telit Communications (TCM) boos Oozi Cats/ Uzi Katz had enjoyed with the law. Think again. Though there has been no RNS from Telit on the matter of the BAMES bankruptcy which saw 1400 Italians lose their jobs and a massive criminal investigation, perhaps it might give us an update now.

Telit Communications Odd cat Out Contest

Published 709 days ago

This is a very simple contest. Heck Oozi Cats, formerly of Telit Communications (RCM), you have time on your hands right now so why not enter! "don't talk about time" Mr Sheriff please!" said Uzi, Sorry Oozi. I digress. Please look at the four images below and tell us which is the odd one out and why. I have added a musical hint on the fourth one. Post your entries in the comments section below with a deadline of midnight Thursday

Tom Winnifrith Bonus Bearcast on Telit - calling Uzi's next move: this feels like Globo Mk2, here's why

Published 710 days ago

Okay so the Sheriff of AIM has got his man. Uzi/Oozi Katz/Cats has gone "temporarily" (my arse, again) from Telit Communications (TCM). So what happens next? I comment about what was NOT said in today's release, try to second guess Uzi (that is the real one not a bogus ballet dancer/statistician/award winning chef) as to his next move. Then I discuss the underlying business and explain why, to me, it has all the makings of a Globo, not a Quindell,. and why that means that its share price collapsersoonie could be sooner than you think, if banksters HSBC are anywhere close to being on the ball. Enjoy.

Telit: Look at all these hilarious Internet Uzi Katz's in Boston - now why don't any of them exist?

Published 710 days ago

Now this really is bizarre. We have taken screen shots of internet sites set up in 2015 by a vast number of fellows called Uzi Katz who claimed to live in Boston. The Jewish population of Massachusetts is 274,000 and I will charitably assume that all live in Boston. So lets crunch the math before we look at the (hilarious) websites and draw an inevitable conclusion..

Telit Communications: to have had one crook on the board is understandable but two looks like carelessness

Published 710 days ago

I so enjoy misquoting my fellow Anglo Irishman Mr Wilde. He knew a bit about the inside of a jail cell and that brings me to Telit Communications (TCM). Oozi cats, aka Uzi Katz, has "temporarily" (my arse) left Telit Communications (TCM) following the Boston fraud revelations but this is not the first time that the company's officers have had a spot of bother with the law. Meet Avigdor Kelner.

Lucian Miers chats to US Marshalls Office Massachusetts - Katz case not closed - a most generous offer to Telit boss

Published 710 days ago

As followers of Naibu (NBU) know there is nothing stopping the CEO of an AIM listed company being in prison while remaining in office. After all this is the world's most successful growth market and the head of the Oxymorons at AIM Regulation, Mr Marcus Stuttard, really is a top banana. As such fans of Telit Communications (TCM) will not worry a jot about this bombshell from infamous bear raider Lucian Miers, the Bard of the Boleyn.

What sort of Internet of Things PLC has an "art curator on the payroll" - Telit Communications natch. Guess who!

Published 710 days ago

The talents of Ruth Veronique Katz/Cats the wife of Telit Communications (TCM) boss Oozi/Uzi know no bounds. She is the owner of showjumping ponies which allow her daughter to compete for Israel. She owns a company producing arthouse films. Back in the early nineties it seems as if she, or someone born on the same day with the same name married to a man of the same name, had expertise in real estate fraud, as I revealed earlier today HERE. But still Ruth marches on, slaving away as a, no doubt well paid, employee of Telit. What does she do? Over to LinkedIn....

Telit IPO Document 2005 - Note 6.7 care to comment Uzi, I mean, Oozi?

Published 710 days ago

The 2005 flotation of Telit Communications (TCM) will - with hindsight - be seen as yet another badge of shame for AIM, the casino which laughably brands itself as the world's most successful growth market. Until 2004 the CEO of Telit & the companies it bought was, in official documents such as THIS, calling himself Uzi Katz. By the time of the IPO that was Oozi Cats. Let us now turn to section 6.7 of that document.

GOTCHA! Says the Sheriff - The Boston fraudster Oozi Cats leaves Telit temporarily - he ain't coming back

Published 710 days ago

Following our barrage of revelations yesterday about the Boston fraudsters - Uzi and Ruth Katz (aka Oozi & Ruth Cats), Telit Communications (TCM) has announced that its CEO Uzi/Oozi is to go on a "leave of absence." Uzi ain't coming back.

EXCLUSIVE: papers lodged to oust The Professor & Maureen Jones from Conroy at new GM: The Sheriff will be there!

Published 710 days ago

I can reveal that papers have this afternoon been lodged in Dublin with Conroy Gold & Natural Resources (CGNR) calling for a second GM to install three new directors: Paul Johnson, Patrick O'Sullivan and Gervaise Heddle. But after the sodomising of democracy that was the last GM, this time the rebels are also calling for the sacking of Professor Richard Conroy and his sidekick Maureen Jones. I will be going to this GM to back the rebels. The Sheriff will get his man, Prof Con you are on notice!

Andalas - great news about the jam tomorrow, shares soar 45% but folks do know that it is bust don't they?

Published 711 days ago

Credit where credit is due. Andalas Energy (ADL) the AIM dog created to fund the lifestyle of Dave "Rule Breaker" Whitby has announced that it has signed a legally binding deal to develop the Jambi-1 30+MW independent gas-fired wellhead power facility in Jambi Province, Indonesia and to procure gas from Pertamina, the global fortune 500 national oil company. Andalas will have a 49% stake in the project and state owned construction outfit PT PP Energy will have 51%. So far so good but hang on Henry!

Breaking: Oozi Cats/Uzi Katz meeting with Nomad FinnCap within hours - if the Feds are looking for a fugitive

Published 711 days ago

Having been appointed as Nomad and broker to the highest profile AIM company of the week, Telit Communications (TCM) at 7.01 AM yesterday, Mr Stuart Andrews & Mr Richard Chambers of Finncap and their colleagues must be shitting briicks following today's quite stunning revelations earlier about Mr Oozi Cats/Uzi Katz, his Mrs Ruth and events in Boston 25 years ago. Or maybe it is just another couple holding Israeli passports with the same names and birthdays who were involved in multiple frauds?

BREAKING: Telit - what an embarrassing coincidence for boss Oozi Cats and his Mrs - meet the Boston fraudsters on the run

Published 711 days ago

Yesterday I discussed at length the woes of what was one of the largest companies on AIM, Telit Communications (TCM) where boss Oozi Cats sold £24 million of shares on May 25 - 24 hours ago the stock plunged for a range of reasons. Now here is the most amazing and embarrassing coincidence, meet an Israel couple who fled US justice in 1991. This must be so embarrassing for Oozi and his Mrs - Ruth Veronique Cats, it is just such an amazing coincidence.

Equities First – the £18 million question over IQE

Published 711 days ago

It is almost three years since the Equities First Holdings story hit the headlines with the deal signed up with by Rob Terry et al at what was then called Quindell – now Watchstone (WTG) – whereby the sale of shares via a non-recourse sell and buyback deal was dressed up as a director share purchase.

Conroy Gold - sham GM result- rebels will call another, Prof Conroy your stockmarket days are numbered, the Sheriff of AIM is coming to Dublin to get you!

Published 712 days ago

I revealed on Sunday how Professor Richard Conroy had abused shareholder democracy at a sham of a GM for Conroy Gold & Natural Resources (CGNR). In preventing three rebels from joining the board when that is what shareholders clearly wanted he has shown himself no longer fit to run a PLC. I can only compare his pastoral care of shareholder rights at Conroy to that handed out by the Christian Brothers to their wards at so many boys homes across Ireland in darker days of old. The Professor shames Ireland and shames AIM with his antics. Conroy has today failed to fess up to exactly what went on and also what has happened since. Okay, he asked for this, the Sheriff of AIM needs to go to Dublin.

Nyota – former chairman selling again last week, now below disclosable 3%.

Published 712 days ago

Following my run for the hills at the weekend, we learn today from AIM-listed Nyota Minerals (NYO) that the former chairman dumped another line of stock last Wednesday (informing the company on Thursday) – 25 million shares. His holding – which started as 90 million shares in lieu of director’s fees – was down to 55 million. Since it is now below 3% he’s free to dump the rest without bothering the RNS system. 

Telit - Smelly Cat, smelly Cat - its not your fault: talk me through the share dumping timeline again

Published 712 days ago

I have just posted my analysis of today's disastrous interims from Telit Communications (TCM). This company is just drowning in red flags and the shares have crashed from 340p on May 25 when CEO Oozi Cats flogged £24 million worth to 156p. I could see this being a zero as explained in full HERE. But perhaps Oozi can help me on a few timeline issues just to explain why he is not an insider dealer. In return I have a special musical video just for him below...

Telit - as we often predicted this is the day the disaster unfolded, but can the CEO explain his £24m share sale?

Published 712 days ago

I am not sure if Neil Woodford had a big stake but Telit Communications (TCM) ticked all the other red flag boxes for AIM casino disasters waiting to happen. UK Investor Show attendees know that this has been high on the bear's hit list for a while. Today the train wreck happened and as I write, shares in what was the most shorted stock on the casino, are 39% down at 156p. But a £199 million market cap is still a rum and coke. The shares could be 20p and I still would not buy. Pro tem I count this as another big win for the Sheriff of AIM.

Echo Energy - gets into bed with twice convicted market abuser as its new broker

Published 712 days ago

Having rather publicly fired its old retained broker Brandon Hill Research on 31 July for being sensible, Echo Energy (ECHO) has today announced it has a new broker Hannam & partners. Who? I must admit that I have never heard of this firm and an RNS search shows it acting for just one other London listed company as its retained broker. But maybe it has a big research capacity to ramp the shares? er...

AIM dog Eastbridge goes bust having given all its cash to a conman on the run - who will take the rap for this f**k up?

Published 712 days ago

Peterhouse Corporate Finance, Mr Greg Colliar, crap Nomad Northland, Mr William Vandyk are you sitting comfortably? You sure? Now read on for yet another horror story emerging from the AIM casino....

Waseem Shakoor on Frontera – no money, no CPR due, no JV imminent, Varang walked?

Published 713 days ago

I’ve have a bear of AIM-listed Frontera Resources (FRR) for as long as I can remember. Perhaps it is the accumulated losses over the years of a whopping $479 million. Maybe it is the slide from c. 150p to the current 0.115p. Perhaps it is the boat load of confetti issued of late to settle debts. Maybe it is the delayed work on the South Kahheti gas assets. Whilst it seemed a slam dunk short at 0.42p per share (it was, now at 0.115p) there still seems to be more to go.

Conroy Gold - a sick abuse of democracy at GM, Nomad Allenby must force change or quit - a day that shames AIM

Published 713 days ago

At 2 PM on Friday Conroy Gold & Natural Resources (CGNR) convened a GM called to fire six directors and install three rebels. What followed was such a shameful abuse of democracy that it shames AIM. Yes, even the Casino, has not seen such a disgraceful rogering of shareholder rights until now. Conroy has yet to RNS the result but I can now reveal what happened. And also make clear that Nomad Allenby has a duty to force change or must quit for this is a dark day for shareholder democracy. It is nothing short of appalling.

F40 Adamas - debtor not paying, (debtor) chairman vanishes. Oops

Published 714 days ago

Yesterday at 3.36pm ShareProphets AIM-China Filthy Forty play Adamas (ADAM) announced as update on a debtor. Judging by the timing it seems to be a bit of an unscheduled missive – and judging by the content, it seems to be a problem.

BREAKING: FRC Letter - Servision forced to change accounts by Tom Winnifrith, delayed profits warning explained

Published 715 days ago

The big issues for AIM uber dog Servision (SEV) have always been its lack of cash generation which has forced bailout placing after bailout placing and its aggressive revenue recognition policies designed to boost the share price to allow the placings to take place. Lately there has also been an issue with withholding (bad) price sensitive information. On the revenue recognition issue I went into battle 19 months ago, reporting the company to the Financial Reporting Council and now we have another small win for the Sheriff of AIM. A letter from the FRC has just arrived...

AIM uber dog Mkango - insolvent by September, when's the bailout placing dudes?

Published 716 days ago

The sad tale of Mkango Resources (MKA) , the TSX dog listed on the AIM Casino by SP Angel in June 2016 continues but for how much longer? The grim reaper is polishing his scythe and CEO William Dawes better start brushing up on the rules of battleship if he is to avoid what seems an inevitable fate. It all started so well. Mkango was insolvent and so SP Angel raised it some cash about eight months behind schedule and listed it to great fanfare.

Stratmin to be booted off AIM as funny China money fails to arrive - will anyone pay for this other than shareholders?

Published 717 days ago

Oh dear. Oh dear. Another AIM debacle involving Chinese funny money. This time it is Stratmin (STGR). Its cunning plan was to do an RTO of Signature Gold and to fund that deal with a £5 million investment from Axel Management Group Pty Ltd. What could possibly go wrong?

Blur fires its founder & CEO Phil Letts, 18 days after sacking his ghastly Mrs - but where are the shareholders' Mansions?

Published 717 days ago

At 7 AM yesterday AIM uber dog Blur (BLUR) announced its god-awful results. At 8 AM after a bailout placing had been approved its shares came out of suspension. In the 7 AM results statement CEO Phil Letts noted "I welcome the new board members to blur and look forward to working with them." It seems the feeling was not mutual. By 5.32 PM Blur was announcing that Letts was leaving. Make no mistake, he was fired.

RedX – administration update and a question over the interims

Published 717 days ago

RedX Pharma’s administrators have updated the market on the state of play with this (currently) insolvent company. The good news is that a sale of assets is proposed which will bring in $40 million and that subject to review by the administration team of business plans by the management the company would be set to exit administration and shares restored to trading.

Pantheon Resources - why does anyone believe a word it says? Why have directors not been fired?

Published 718 days ago

On 25 January 2016 I accused Pantheon Resources (PANR) of being a mug punter fave and of being ready to do a placing. A huffy puffy PR person got a huffy puffy FD to call me to tell me that I was talking bollocks. The City was reassured that I was a prize poltroon/failed fund manager/pizza delivery boy/drunk and , assisted by a scandalously ramptastic operations update, the company raised $30 million at 115p in early March. Why is this ancient history so important?

Advanced Oncotherapy – ignore director buying, it’s a spoof

Published 718 days ago

AIM-listed Advanced Oncotherapy has announced a director buy of 100,000 shares (about £17,750 worth). Dr Enrico Vanni, a NED, has gone into the market and hoovered up a few more shares to add to the series of shares acquired earlier this year as the company tried (and failed) to defend the 25p (par) share mark in the face of the Bracknor death spiral sales. Now he’s back.

Andalas Energy pays 150% interest on loan extension - insolvency postponed for one month - placing ahoy?

Published 718 days ago

A year ago I thought that loans taken out an annualised rate of 30% such as that African Potash (AFPO) obtained from the fragrant wife of its hapless FD were a rum and coke. But that is nothing to the stunning admission today from Andalas Energy (ADL) - a loan repayable in one month at an annualised rate of 150%. Even by the standards of AIM Casino junk - Wowee.

Advanced Oncotherapy - technological milestones, but what about cash?

Published 718 days ago

AIM-listed Advanced Oncotherapy (AVO) has announced that the final Coupled Cavity Linac (CCL) module (part of the LIGHT system) is ready for shipment to the company’s Geneva Testing facility. All very good news, no doubt, but what is the cash position of the company?

Echo Energy fires its broker - for doing the sensible thing & dumping shares

Published 719 days ago

Echo Energy (ECHO) the overvalued wannabee oil explorer has today announced that it is firing its retained broker Brandon Hill. This is most unusual.

Nomad Cenkos put "on record" re the Mercantile Ports fraud - letter 7, about the land "purchases", SMTM!

Published 720 days ago

When disgraced AIM casino posterboy Mercantile Ports & Logistics (MPL) moves from being a member of the minus 98% club in which it currently sits to being a member of the minus 100% club, I want it known that Nomad Cenkos has been fully aware of massive issues all along and has done nothing other than bank obscene fees. As such we have run a series of letters from a big shareholder to Amber Wood, head of Corporate Governance at Lagos Securities, HERE and HERE and HERE and HERE and HERE and HERE Now for letter six which puts fragrant Amber and Lagos, Nomad to the Quindell (QPP) fraud as well, on notice for when the final wipeout occurs that they will be held accountable. This letter has also been cc'd to AIM Regulation - I know they are useless but surely even they must realise that Lagos Securities has "form."

Did you lose money on the Paragon Diamonds wipeout? Time to get it back from Nomad Northland

Published 720 days ago

Did you lose money on the wipeout at AIM Casino Paragon Diamonds (PRG) run by Philip Manduca? If so there is, perhaps, a chance to get it back from Nomad and broker Northland which made a killing on fees from Paragon and signed off on all of its statements, the veracity of which has been questioned.

Today's Primary bid offering is Provexis - Deadline 5PM Today but what about the missing £335k?

Published 720 days ago

On Friday at 4.30 Provexis (PXS) announced that it had raised £240,000 at 0.5p on top of the £350,000 it raised in May and it has now announced that it had opened the offer out to customers of PrimaryBid. But before you all rush ....

King of the fraudsters Rob Terry promises $1 billion Knob Park IPO - now about those dodgy accounts.

Published 721 days ago

In five year time, the king of the fraudsters, Rob Terry of The Innovation Group and Quindell (QPP) infamy says he will be floating his latest ponzi, Quob Park Estate for $1 billion. Bollocks. There is more chance of me getting lucky with the entire Dallas Cowboys cheerleaders squad within the next 48 hours.  As the SFO investigation into the £3 billion Quenron fraud ratchets up a gear, the only thing Rob Terry will be doing in five years time is praying that his next Roomie at Ford Open doesn't have a taste for ugly older men.

ASA Resources – oh dear: shares suspended pending financial clarification, more wholesale theft and fraud on AIM

Published 721 days ago

AIM-listed ASA Resources (ASA), formerly Mwana Africa, has been getting into a right mess of late, with significant funds having been remitted from operating subsidiaries in Zimbabwe and not properly accounted for. Funds remitted to group entities in Hong Kong have not been accounted for and it seems  that the bank accounts in Hong Kong appear to remain under the control of two recently sacked directors, Mr Yat Hoi Ning (CEO) and Mr Yim Kwan (FD). It is an all too familiar story for followers of the ShareProphets AIM-China Filthy Forty: directors walk off with the cash, get sacked but can’t be reached. Now ASA tells us that it’s shares are suspended pending financial clarification – and a third director, Mr “Brian” Ching Fung Hung having gone AWOL has now also been removed from the board.

BREAKING: Now Roger Lawson & his lawyers bully Audioboom to get another bearcast taken down

Published 721 days ago

Are there no depths to which Roger Lawson of ShareSoc, Globo and blinkx fame will not go in order to silence me as part of a free press? The latest trick from Roger and his bully boy lawyers Keystone is to have a go at Audioboom.

MySquar - the numbers just make no sense whatsoever - what is it hiding?

Published 721 days ago

AIM Casino uber-ramp MySQUAR (MYSQ) 'fessed up on Friday that, as I had revealed 24 hours prior, a placing was underway but it insists that it does not need the cash. Really? I want you to consider a few numbers.

How to lose more than 50% of your cash in 2 weeks - ask an Andalas owning moron: placing imminent? £550k Loan to be repaid by deadline today? er....

Published 722 days ago

Two weeks ago exactly AIM Casino listed crock of shit lifestyle company Andalas Energy (ADL) announced some more hot air and jam tomorrow news sending its shares spiking to a peak of 0.14p to buy as Bulletin Board Morons whipped themselves into a semi-orgasmic frenzy of innumeracy and filled their boots. Today the shares are 0.065-0.07p meaning that the paper loss for those buyers at peak moron is already 50%+. Time for a podcast with long term Andalas groupie and well known cardboard box resident Justin the Clown methinks? The bad news for Justin and the morons is that things can only get worse...

China fraud Aquatic Foods Group – joke RNS delaying (again) FY16 accounts and more Red Flags

Published 722 days ago

ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG) has released news of its delayed FY16 numbers in an (almost) no-one is watching o’clock RNS yesterday, released at 4.26 pm – 12.26am local time in China. Goodness me, they must have been putting the wording together for hours! Needless to say, there are still no accounts. In my view the whole thing is a joke and Nomad SP Angel is being made to look foolish: take a look at the directors’ page of the company website!

i3 Energy - Going down like Christmas lights in January

Published 722 days ago

i3 Energy (13E) floated at 55p earlier this week. Its shares now trade at just 34.5p to sell. Even by the standards of the AIM Casino this has been a god-awful IPO. But it is going to get an awful lot worse. 

BREAKING: MySQUAR - Placing Under way: Source

Published 723 days ago

The trouble with Norfolk's is that in the end they run out of other people's money. And that brings us to MySQUAR (MYSQ) the sort of company which, even by the lowly standards of the AIM Casino, is a dog. A Source has been on the trombone and says...

Glenwick - the whole farce unravels so let the recriminations begin....

Published 724 days ago

Oh dear, this really is a clusterfuck even by the lowly standards of the AIM Casino. You will remember that AIM listed Glenwick (GWIK), linked via Peterhouse Corporate Finance and Amanda Van Dyke to fellow AIM dog Paternoster Resources (PRS) in a related party snakefest, has had its shares suspended an RTO but there have been a few problemos. Oh dear. Oh dear.

F40 Origo – disposals: how’s the NAV doing?

Published 725 days ago

ShareProphets AIM-China Filthy Forty play Origo (OPP) has announced a couple of disposals. With the share price still languishing on a 2-2.25p spread, compared to the last quoted NAV in the FY16 accounts of 13c (US) – call that 10p per share. After a series of scandals over massive payments to the fund manager what now for the company with scheduled redeemable/convertible prefs after the dispute with Brooks MacDonald was finally resolved?

i3 Energy - a $50m fund raise becomes zero fund raise and £14m market cap (oops make that £11m) - disastrous IPO

Published 725 days ago

It was only a couple of months ago, on May 10 - 6 months behind schedule - when wannabee North Sea oil developer i3 Energy (I3E) announced it was to raise up to $50 million as it joined AIM. Since then, as we have noted before, there have been numerous false starts and it was obvious to all concerned - bar Amanda Van Dyke's related party snakefest Glenwick (GWIK) - that the fundraise was in deep merde. Oh yes. Party on bear dudes. This IPO has bombed and the business model is mega-fucked.

BREAKING: African Potash FRAUD - Nomad Cantors will be sued by 3 investors - case gets green light (Cloudtag next!)

Published 726 days ago

This has massive implications for the AIM Casino. We saw last week that the London Stock Exchange was washing its hands of tackling Nomads who sign off on frauds and so allow investors to lose all their cash to shysters. Now the private sector moves in. I can reveal today that Cantor Fitzgerald will be sued by investors who lost money on the African Potash (AFPO) fraud because it was negligent in signing off on fraudulent releases. If this case wins the floodgates are open...

China fraud Aquatic Foods: crunch time?

Published 726 days ago

ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) shares were suspended last month because it couldn’t get its accounts out on time. We were told that this was because of difficulties getting its enormous cash-pile out of China to pay a number of parties whose assistance is required for the finalisation of the audited accounts. For that, we might presume that it includes the audit firm. We were told that the accounts were anticipated to be released in July – and here we are with 6 trading days left. Is it crunch time?

Advanced Oncotherapy – what is the position re Bracknor? Has it been paid off?

Published 727 days ago

Tom and I covered this the other day, but I wonder whether we’ve missed a trick with regard to AIM-listed Advanced Oncotherapy (AVO) and its dealings with death spiral sharks Bracknor. Immediately prior to last week’s funding news my back-of-an-envelope calculation was that Bracknor still held £1.95 million of loan notes and a further £0.7 million from fees. Given that Bracknor held little (if any) shares, why has it not beaten a hasty track to get the loans converted so that it can sell into the resulting strength?

Tom Winnifrith Bearcast - The PLC Death List Update - 9 new entrants

Published 728 days ago

I started the PLC death list in June 2015 with 21 members. The aim is to pick stocks that will either go bust or get slung off the AIM Casino. Each departure requires a nreplacement. With nine new entrants today 40 names have joined this select group. So far there have been two outright failures on my part, Mariana Resources (MARL) and Jersey Oil & Gas (JOG). There was one volte face but I was ahead at volte face point and it was a great call both short and long - Wandisco (WAND), two near kills, InternetQ (INTQ) and Monitise (MONI) and thirteen slam dunk kills: Cloudtag (CTAG), Worthington (WRN), African Potash (AFPO), Jiasen (JSI), Camkids (CAMK), China Chaintek (CTAK), JQW (JQW), Afren (AFR), Daniel Stewart (DAN), Sefton (SER), Outsourcey (OUT - boy I enjoyed that one - Afriag (AFRI) and Auhua. So 13 out of 31 = 40%+ - not bad eh?  Arguably that is 15 out of 31 - almost 50%! That leaves:

Nyota - I fear that its AIM days are very numbered

Published 728 days ago

Last week the Nomad and broker to Nyota Minerals (NYO) announced that they were quitting as of August 17. As I have exposed HERE and HERE the advisers have behaved disgracefully and if there was any justice they would be facing sanction. But I fear that it is Nyota that will suffer.

The Mercantile Ports & Logistics fraud - Arden partners now on the record

Published 728 days ago

Over the past few weeks we have published a string of letters sent by a significant shareholder in AIM listed Norfolk Mercantile Ports & Logistics (MPL) to its Nomad Cenkos so that when Mercantile runs out of other people's money as it surely will, the shamed former adviser on the Quindell (QPP) fraud cannot say that "it did not know." Its role is on the record as you can see in our full coverage HERE. Now that same shareholder has written to Daniel Slater, the analyst at co broker Arden Partners responsible for - arguably - the worst research note of 2017.

SHOCKING: Nyota - the killer emails: Peterhouse has defrauded investors and misled them

Published 729 days ago

Our exclusive Winnileaks service has obtained a series of emails from May 3rd 2017 which show that Peterhouse Corporate Finance has misled investors in Nyota Minerals (NYO) - these emails compound the damning evidence of the secret document I published on Wednesday. This is so damning that maybe even the useless clowns at AIM Regulation will take an interest.




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