Share Prophets

Saturday 19 June 2021 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares


Finablr – When will this fraud delist, worthless, as CEO walks the plank?

Published 172 days ago

It was back in January that I asked if fully-listed Finablr (FIN) was a house of cards. Well, it was – and having denied any problems over and over again, we finally learnt that it had suffered the same fate as fellow Dr Shetty vehicle NMC Health (NMC) with secret cheques being written, director shares being sold and a mountain of debt racked up. Earlier this month Finablr announced it had entered into a definitive agreement to sell Finablr Ltd for just $1.

Ouzo time again: Finablr – Update on Transaction as it admits plc proceeds will be “nominal”

Published 247 days ago

So I was bang on the money – or lack of it. Nine days ago Finablr plc (FIN) announced it had received an offer for Finablr Ltd and its subsidiaries and reading between the lines my view was that shareholders in the plc would’t see a penny, not that it was made explicitly clear by the RNS. Today we have had an update…….

Finablr – offer for Finablr Ltd. Good news? Er...

Published 256 days ago

It was announced this morning that crocked Finablr plc (FIN) has received an offer for Finablr Ltd and its subsidiaries. Good news – or is it?…

Notes from Underground - Most read articles for the week ending 22 August 2020

Published 300 days ago

The most read non-Tom article this week is Embracing uncertainty and the mad gambling world of GVC by Chirs Bailey is at an excellent number one or number seven including Bearcasts and Tom’s new shareshow.

Finablr – intra-day announcements mean ouzo at the Greek Hovel & extra baked beans at the Montana log cabin...

Published 305 days ago

It’ll be ouzo at the Greek Hovel for Tom Winnifrith and an extra tin of baked beans on the fire at the Montana log cabin for Nigel Somerville following intra-day updates from Finablr (FIN) today…

Finablr – Travelex agrees debt-for-equity rescue, 0p here we come

Published 346 days ago

It has been obvious for a while that shareholders in Finablr (FIN) would lose everything following the fraud exposed at NMC initially by Muddy Waters, and mirrored at Finablr. And whilst the company at first denied that there was anything wrong – more fool it – it is now clear that there were monumental problems.

Questions for EY (formerly Ernst & Young) ref Airbus

Published 353 days ago

EY - better known as Ernst & Young - is auditor to a few outfits covered here on ShareProphets. It ha had a bit of a run - think Wirecard, NMC Health, Finablr and so on. Some people might view the audit profession as the enabler of fraud, but surely these guys are only human and in that vein I offer up some questions in an open letter with regard to Airbus (EPA: AIR) 'cos I'm just a nice guy. Naturally, there will be hghly satisfactory answers to the questions raised and there is nothing wrong at all, but let's ask them anyway.

Finablr – Oops where did that 1 billion dollars go to?

Published 415 days ago

Yesterday Dr BR Shetty, the founder of Finablr (FIN) and NMC (NMC) protested that he was the biggest victim of their collapse and was purer than the driven snow. Today another shocker from Finablr. It seems a billion dollars has gone up in smoke and it has only just noticed.

Kerboom: Finablr and NMC – Dr Shetty breaks his silence, "I'm the biggest victim of all, honest guv"

Published 416 days ago

After all that has gone on at (now former) FTSE100 play NMC Health (NMC), which is now in administration and where shareholders face a potential 100% loss, and Finablr (FIN) which is also suspended and shareholders face wipe-out as well, Dr Shetty – the man apparently at the centre of the shambles – has finally spoken out in a co-Chairman’s statement from Finablr issued at 10.50am this morning. If we are to believe Dr Shetty, he is not so much the perpetrator of fraud against both companies but the victim. Heck let's set all up a vrowd funding site for him.

Finablr – to “explore strategic options”... calls in Shetty’s financial advisor!

Published 436 days ago

Given that fully-listed Finablr (FIN) is from the house of Shetty that gave us the now - or soon to be - defunct NMC Health (NMC), it is a surprise that Dr Shetty remains co-chairman having been forced out of the door at NMC amid a series of undisclosed share dealings and the subsequent discovery of undisclosed cheques, NMC being left on the hook for its suppliers loans and bank balances which did not match its accounts. And of course Finablr has been in a spot of bother already...

NMC throws in the towel – it is Game, Set and Match to Muddy Waters

Published 436 days ago

NMC Health (NMC) announced late yesterday that it was “not in a position to oppose successfully the court application by Abu Dhabi Commercial Bank to have the company placed into administration at today’s hearing. In other words it is game over...

NMC Health – lender goes for administration. Looks like Game, Set & Match to Muddy Waters

Published 439 days ago

Hat tip to reader RT with this link, Abu Dhabi Commercial Bank (ADCB) which has a reported $981 million exposure to NMC Health (NMC) has applied to court to have NMC placed in administration, apparently to safeguard the future of the company, according to Reuters. Well, whatever – but it looks like game set and match to bear raider Muddy Waters.

Finablr – E&Y resigns as auditors following inadequate board changes, but Dr Shetty remains in post and seems to be in control!

Published 446 days ago

It was announced this morning that Ernst & Young resigned as auditor to fully listed (but suspended) Finablr (FIN), citing concerns arising out of recent events atht e Company and NMC Health plc [NMC]…..the Board of the Company, the adequacy of corporate governance concerns and the recent issues that have caused the Company to commission an independent review of the Company’s financial arrangements, including of related party transactions and on- and off-balance sheet debt”. Quite a list! It’s a shame that Ernst & Young (EY) has shut the stable door so long after the horse has bolted!

The $6.6 billion dollar fraud NMC – the black hole expands & the CFO walks

Published 451 days ago

Oh dear, oh dear – it is going from dreadful to even more dreadful at NMC Health (NMC), which was suspended in the wake of Dr Shetty’s unreported dealings and a whole load of undisclosed debt coming to light – placing the viability of the company under heavy question. Yesterday we learnt that the debt position has increased from the estimated $5 billion to reach $6.6 billion. The whole outfit is surely toast...

Finablr – all over bar the shouting as the Emergency Fat Lady warms up en route in the taxi

Published 459 days ago

Yesterday I described the lack of liquidity which had led to fully-listed Finablr (FIN) being unable to provide certain payment processing services as sounding terminal. And of course, the company had just turned up a stack of dodgy cheques, the CEO had walked and an investigation which sounded like a full forensic had just been commissioned. Now we learn that the emergency Fat Lady has been called in and is warming up en route to the theatre as we speak.

Ouzo Time as Finablr shares are suspended in yet another not-fit-for-purpose FCA shambles. P45 for Andrew Bailey

Published 460 days ago

You were warned and warned and warned again here on ShareProphets to get out of fully-listed Finablr (FIN) as it became clear to us that it was facing the same problems as NMC Health (NMC) which is already surely a zero and with which it shared much of the same senior management (until it was fired by NMC) and where accusations of fraud and theft now abound. Quite why the shares were not suspended weeks ago is a matter for our useless and not-fit-for-purpose FCA which, after all, is supposed to protect investors. This morning the shares were suspended, the CEO has walked, dodgy cheques have turned up and the company’s financial position is unclear (for that, read a zero for shareholders). It would be a mind-bending shock if it had not been so predictable, and it is a calamity.

Sitting on my hands, as you should too….with a few exceptions.

Published 461 days ago

It has been a truly wild period on the stock market and I fear it is going to get worse before it gets better. The coronavirus has ripped through everything and it is panic stations on the markets – as well as in the supermarkets. Some of it is logical: I’m not sure I would want to own shares in an airline right now, nor a restaurant business, and I would not be surprised to see some casualties in the fullness of time if the coronavirus plays out as seems to be expected.

Notes from Underground - Most read articles for the week ending 15 March 2020

Published 461 days ago

This is a fantastic tweet from restaurant entrepreneur Jonathan Downey. It's a picture taken ten years ago this month (possibly ten years ago this week, I can't be sure) of his restaurant burning down. It's of interest to us because the fire that started in his restaurant also burnt down the offices of Rivington Street Holdings, one T. Winnifrith, CEO.

Tom Winnfrith Bearcast - a long chat with Lucian Miers

Published 462 days ago

I had a long chat with Lucian Miers who is right now in Cambodia ( cue cheap Gary Glitter jokes from morons on ADVFN). We discussed coronavirus and the state of the markets. What to buy in the FTSE 100 and his shorts: De la Rue (DLAR), Versarien (VRS), Easyjet (EZJ), IQE (IQE), Apple, Tesla and Purplebricks (PURP) and also the ethics of bailouts and what Governments will be allowed to do., I also comment on Finablr (FIN) and panic selling in Big Sofa (BST)

Tom Winnifrith Bearcast: stockmarket Bloodbath

Published 464 days ago

I start with the markets, coronavirus, hapless Donald Trump and other matters. It is all a mess. Some folks are really hurting and I explain how this can affect you. Then I look at Cineworld (CINE), Mosman Oil & Gas (MSMN), Nostra Terra Oil & Gas (NTOG), Big Dish (DISH), NMC Health (NMC), Finablr (FIN) and Metro Bank (MTRO)

As Finablr heads for zero, NMC now says it has found evidence leading to suspected fraud – and still the FCA won’t suspend Finablr!

Published 464 days ago

This morning saw a first partial ‘fess-up by Finablr (FIN) and the shares, as covered by Tom Winnifrith, duly collapsed yet again. But on good day to bury bad news, NMC Health (NMC) ‘fessed up yet again, saying that evidence leading to suspected fraudulent behaviour has now been found. Well quelle surprise, given that we were told two days ago that it appeared that some proceeds from undisclosed £2.7 billion of borrowing may have been utilised for non-Group purposes. In other words, it had been stolen!

Now the crook Dr Shetty’s Finablr admits that like NMC it is essentially fucked

Published 464 days ago

You cannot say that myself and Nigel Somerville have not warned you repeatedly and so anyone still owning shares in Finablr (FIN) has only themselves – and folks like ShareSoc and the members of the deadwood press who effectively batted for this company by attacking & smearing bear raider Carson Block – for their losses. The IPO in May 2019 was at 175p. Today after a partial ‘fess up the shares are 9.97p. Ouch.

Finablr Plc – why the FCA needs to take prompt action & suspend the shares now!

Published 465 days ago

For starters, the scale of the fraud at NMC Health (NMC) is, as of last night, known to be c$3 billion. It might be more. Dr Shetty who set up and runs Finablr (FIN) is a total crook and that is one reason why the shares should be suspended at once. But there is another pressing issue for the world’s most inept regulators to consider...

BREAKING: NMC Health “discovers” another $2.7 billion of hidden debt – surely this mega fraud is bust

Published 465 days ago

Even the journalist smearing PR mothers at FTI consulting could not polish the steaming turd that was today’s 4.11 PM update from the, until recently, FTSE 100 member NMC Health (NMC). The level of fraud is staggering.

Finablr – update on Shetty leaves more questions than answers: keep selling

Published 467 days ago

Fully-listed Shetty vehicle and owner of Travelex which is surely in trouble from the panic of corona virus Finablr (FIN) has updated on the good Dr Shetty’s shares. But the update leaves far too many questions unanswered and the shares remain a stonking sell.

Notes from Underground - Most read articles for the week ending 8 March 2020

Published 468 days ago

Even on Shareprophets, you cannot escape the media going on about the Corono Virus. Excluding ShareProphets Radio 26, the most read non-Tom article this week is COVID 19: Lessons from 1918 for 2020 by a up-and-comer named Richard Poulden. He took the number one spot on the leaderboard this week, number seven if you include Bearcasts.. 

Tom Winnifrith Bearcast:the bond markets tell you that Finablr is going to 0p

Published 471 days ago

After a terrifying experience in Wolverhampton at 2 AM this morning I bring you a range of horrors in today's podcast: Finablr (FIN), Bidstack (BIDS), Diversified Gas & Oil (DGOC), Flybe, Anglo African Oil & Gas (AAOG), and Bahamas Petroleum (BPC) which, I can reveal, pulled another placing last night.

Finablr – the car-crash continues at Red Flag Central and still no word on Dr Shetty and his mates. SELL!!

Published 472 days ago

Having first landed on fully-listed Finablr at the back end of January when I asked if it was a house of cards at 95p, I have been supping at the ouzo ever since – and the shares are down again today to just 46.75p last seen. But the stock remains a slam-dunk sell – especially in the light of what has happened at fellow Shetty-inspired vehicle NMC Health (NMC). And then there is the cyber-attack at its Travelex operation….and coronavirus…..and the continued silence from the company.

Finablr – will second Shetty vehicle festooned in Red Flags be suspended and how soon?

Published 478 days ago

Withshares in NMC health (NMC) – a soon-to-be-retired member of the illustrious FTSE100 – now suspended in the wake of a string of revelations over founder and now ex-co-chairman’s share dealing shenanigans, dodgy related party share guarantees which one assumes will haunt the company’s bank balance in due course and apparent discrepancies at the bank, Muddy Waters must be celebrating a seemingly total win. But what of fellow main-market play Finablr (FIN), where the warning signs are surely flashing red for similar revelations regarding the same people but as yet the company is remaining tight-lipped. That surely is a giant-sized Red Flag…

KERBOOM: NMC Health – shares now suspended, Muddy Waters at match point, where are the apologies?

Published 478 days ago

Yesterday (natch, after hours, at no-one is watching o’clock) came the bad news from NMC Health (NMC) which saw it Game Set and (almost) match to Muddy Waters. Now shares in NMC have been suspended. Has Muddy Waters moved from 5-0 up in the third set to match point?...

NMC – now Shetty appoints Houlihan Lokey to assess “strategic options”

Published 482 days ago

It was reported by Reuters on Friday that founder and now former co-chairman, the good Dr Shetty, of fully-listed NMC Health (NMC), which has been gradually revealing stunning undisclosed share transactions by Shetty and two associates, has appointed California-based Houlihan Lokey Inc to advise on strategic options for….portfolio and debt restructuring, according to a familiar source.

NMC – more Shetty shares shenanigans disclosures: what on earth is going on?

Published 484 days ago

NMC Health has updated once again over the shareholdings fiasco surrounding former chairman and founder, the good Dr Shetty, Mr Khaleefa Butti Omair Al Muhairi ("Khaleefa Bin Butti") and His Excellency Mr Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi ("H.E. Saeed Bin Butti"). Today’s disclosures are again shocking and continue to show that TR-1s are for little people.

How do you keep a Finablr shareholder in suspense?

Published 486 days ago

In the wake of the Shetty shareholdings shenanigans at fully listed NMC Health (NMC), shareholders in fellow Shetty vehicle Finablr (FIN) might be wondering if they are about to discover a similar nest of undisclosed pledges, transfers and sales as the result of alleged dealings by Shetty and the Bin Buttis. The last we had heard was nine days ago when we were told the company was reviewing the situation. Well, this morning came a statement re. Shareholding…….

NMC Health: Surely shocking Shetty shareholdings shenanigans shouldn’t sink any lower?

Published 486 days ago

Shamed Dr Shetty outfit NMC Holdings (NMC), whose days in the FTSE100 are surely numbered, has updated on the latest apparent news from the good doctor, who waked the plank over the weekend. This is in relation to his holdings in NMC and those of Khalifa Bin Butti and H.E. Saeed Bin Butti held via BRS International Holding Limited.

Finablr – in wake of NMC scandal, is silence a Red Flag?

Published 488 days ago

Of course it is! Muddy Waters may be laughing all the way to the bank with reference to NMC Health (NMC), but it must be kicking itself in San Francisco for having missed out on fellow good Dr Shetty outfit Finablr (FIN). The last we heard from Finablr was a week ago when the company announced that, like NMC – which has now ‘fessed up at least in part – The Company has very recently been made aware of purported arrangements between Dr BR Shetty, His Excellency Saeed Mohamed Butti Mohamed Al Qebaisi and Khaleefa Butti Omair Yousif Al Muhairi which may be relevant to their respective interests in the Company's shares. With at least 56% of the company’s shares pledged and perhaps more if similar undisclosed arrangements to the ones at NMC have been made, there is surely an urgency for the board of Finablr to get to the bottom of this.

FREE Podcast: ShareProphets Radio Edition 24 with Tom Winnifrith and the Dark Destroyer Matt Earl

Published 489 days ago

My guest in this week's show which is sponsored by Open Orphan PLC (ORPH) is my old pal, the Dark Destroyer Matt Earl. We discuss how a bear can make money in this market, Tesla (TSLA), NMC Health (NMC), Finablr (FIN), Burford (BUR), IQE (IQE) and in real detail Mark Slater, Sam Antar and Future (FUTR) in the wake of Matt's bombshell dossier of last week. If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

NMC – shocker, and the read-across to Finablr is too.

Published 490 days ago

Fully-listed NMC Health (NMC), under a short attack by Muddy Waters, has updated on the shenanigans of the holdings of founder Dr Shetty and those of Khalifa Bin Butti and His Excellency Saeed Bin Butti and associated companies. It seems that a stack of shares were indeed pledged and have been sold as enforcement of security. Oh dear, oh dear – I wonder what the chocolate teapots round at the FCA will make of this, especially as it sounds as though the Bin Buttis has their shares pledged and sold without their knowledge. And then there is the read-across to Finablr (FIN) which appears to be grappling with the same issues.

Tom Winnifrith Bearcast: At this rate Gervais Williams will be gated by Easter

Published 495 days ago

In today's podcast I look at the terrible and mounting woes of "star fund manager" Gervais Williams, at Versarien's (VRS) cash woes disguised in today's RNS by breaking AIM Rule 10, at NMC Health (NMC), Finablr (FIN), Bidstack (BIDS), Uk Oil & Gas (UKOG), and Bahamas Petroleum (BPC)

NMC Health and Finablr – has Dr Shetty been a very naughty boy?

Published 495 days ago

NMC Health (NMC) has announced highly preliminary approaches from Kohlberg Kravis Roberts (KKR) and GK Investment Holding (GKI) regarding possible offers for the company. But in tandem, a second RNS from NMC suggests that Dr Shetty’s holdings and others’ may not be all they appeared to be. This was accompanied by an RNS from Finablr (FIN) suggesting similar shenanigans may be on the cards regarding the same people. Both companies are trying to get to the bottom of it, but from my perspective it all stinks and I would not be hanging around to find out what the true position actually is with either.

Finablr – what are the conditions attached to that share pledge, as the stock continues to tumble? Margin call, anyone?

Published 497 days ago

I have a question for Finablr (FIN). Last month we learnt that BRS Investment Holdings 1 Limited, which is controlled by Finablr’s Co-Chairman Dr Shetty and holds 56% of the stock, had pledged its entire holding to cover bank loans on 10 January 2020. Of course, this suggested that all is not well with regard to BRS’ coffers and it left me wondering if the whole show was a house of cards at 95p. Indeed, the announcement saw the stock plummet by 27%. With the stock down again, to 70p, it sure is windy out there.

Tom Winnifrith Bearcast: Joshua & I discover another clown called Justin but there are 2 big differences

Published 500 days ago

One clown is Justin Waite from Vox Markets the other is Mr Tumble who entertains folks Joshua's age on CBeebies. I explain the two big differences betweeen the two Justin the Clowns. I look at a classic feck up by London's worst Nomad Roland "Fatty" Cornish. poor man, he has a lot on his plate right now. I look at Andalas Energy (ADL) what the broker coverage of Petards (PEG) shows about the cesspit in the City and I cover just wholly unacceptable executive greed at Coro Energy (CORO). I forgot to mention crony capitalist greed at Toople (TOOP), a coke and hookers event for City spivs but you can read about it HERE. I do, however, comment on NMC Health (NMC) and Finablr (FIN).

FREE Podcast: ShareProphets Radio Edition 23 with Tom Winnifrith and Lucian Miers

Published 502 days ago

My guest in this week's show which is sponsored by Open Orphan PLC (ORPH) is my old pal, the Godfather of my son, the Bard of the Boleyn, Mr Lucian Miers. We discuss how a bear can make money in this market, Tesla (TSLA), Versarien (VRS), NMC Health (NMC), Rogue Bloggers for Woodlarks (please do sponsor us HERE), AFC Energy (AFC), Vast Resources (VAST), Finablr (FIN) and much more including a few of Lucian's top US shorts.  I also have a question about those who invest in frauds and who harass me and my family. If you are such a troll maybe you can enlighten me? If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

Finablr – A House of cards?

Published 510 days ago

The Times suggests that Muddy Waters may be kicking itself for not shorting both London-listed stocks from the stable of Dr Bavaguthu Raghuram Shetty. Whist its short on NMC Health (NMC) may be doing well enough, Shetty’s other vehicle – Finablr (FIN) has been having a torrid time, with the shares halving since December. Finablr has only been on the market since last May, but scratch the surface and there are many questions which look like Red Flags to me jumping out.

Tom Winnifrith Bearcast: Graham Neary, you are not the Messiah you are a very naughty boy

Published 512 days ago

I start with a lecture for Graham Neary. then I look again at Jim Mellon's Agrinomics (ASPI) after today's placing. I explian why I scratch again at the sore that is Versarien (VRS), look at Finablr (FIN), LightwaveRF (LWRF) and the next Chris Akers spoof Dev Clever (DEV)

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