Diversified Gas & Oil (DGOC), the largest oil company on AIM and an enterprise whose accounts are being scrutinised by the FRC for a wholesale breach of IFRS guidelines, has announced it plans to move from the Casino to the Premium segment of the Main Market of the London Stock Exchange in Q1 2020. Both Avanti (AVN) and Quindell (QPP) made similar promises to try to keep their shares afloat. Neither actually made it off AIM as promised although, several years later, an almost bankrupt Avanti will be delisting altogether.
In this seventh edition of the ShareProphets Radio podcast sponsored by Turner Pope, this week, in order I discuss why Burford scrutiny is so welcome then interview Matt Earl, the Dark Destroyer, on Avanti (AVN) , Burford (BUR), IQE (IQE), First Derivatives (FDP), Versarien (VRS), Quindell (QPP)) and Kerry Group. After a few more thoughts from me on scrutiny of smaller AIM stocks I interview Steve O'Hara of Optibiotix (OPTI) and then discuss one area where I disagree with him on strategy. If you like this and can't wait seven days for more of the same you should listen to my Bearcast every day.
Hat tip my esteemed stockbroker, I flag up a major red flag for global equity markets. I discuss a hot rumour of the real reason the FCA swooped to shut down broker SVS. I look at Canadian Overseas (COPL), Avanti Communications (AVN), Sound Energy (SOU), Woodford Patient Capital Trust (WPCT) and Brady (BRY).
In today's podcast I start with how Roger Lawson wants laws changed that will shut ShareProphets down and is using Burford (BUR) as his pretext. I look at how the AIM demise of Avanti (AVN) shows how wrong Lawson is and at lessons we can all learn. I cover Providence Resources (PVR) and its dirtbag fat cat boss Tony O'Reilly Jnr, at Cabot Energy (TOAST), Mysale (MYSL) - another mark of shame for Burford's Nomad Macquarie and for Sir Philip Green - and at IMC Exploration (IMC) which is toxic.
I was once a believer as shares in the satellite company Avanti Communications (AVN) soared to 800p+. But I saw the light many moons ago. Today they languish at 0.5p as the company has announced that it is to delist from the AIM Casino. For six years this website has been warning about this disaster in waiting now we are 100% vindicated. Are there lessons to be learned? You bet....
A bit better, only 1 coughing fit in 25 minutes. Thanks for all your best wishes. In today's podcast I discuss the threat of recession and what it means for your portfolio, a grilling for 'Arry of Kefi (KEFI) for you to take part in, all things Burford (BUR) with references to Avanti (AVN) and Quindell (QPP) and why I'm writing to the Nomad and AIM Regulation this weekend and Corero (CNS) which is a true shocker in every respect. We did warn y'all!
Avanti Communications (AVN) has announced results, with CEO Kyle Whitehill emphasising “we can look forward to a positive future. We have an enviable network of assets, demand in our coverage is growing and the actions taken in the last 12 months to re-focus the business and to bring in new commercial talent to the executive team should bring rewards in the near term”. The shares have responded… er, by remaining down at 1.625p…
I start with my big moral dilemna - listeners do you have any advice? Then I look at another day of shame for AIM ref Maestrano (MNO) and, more particularly, Immotion (IMMO). I look at Gama Aviation (GMAA), Numis (NUM), Finncrap (FCAP), Greatland (GGP) - another Dave Lenigas twitter ramp heading south - and at Avanti Communications (AVN)
I start with a report back on my torture of last night. Then I look at a day of woe for Neil Woodford, commenting on the Kier (KIE) debacle which has shown him at his arrogant and reckless worst. Then I ask questions about share trades announced late yesterday in BCA marketplace (BCA), I look at Sosandar (SOS), Optibiotix (OPTI), Bluebird Merchant Ventures (BMV), Yu (YU.) and at Avanti Comunications (AVN).
I address issues raised by poltroons about yesterday';s bearcast and our new investment. I look at some awful yellow journalism at the Evening Standard regarding oily Piers Pottinger and the MySquar (MYSQ) fraud which demonstrates again why the dying deadwood press are part of the problem not the solution. I look at Amur Minerals (AMC) which is in VERY big trouble, I suggest. And also at Avanti Communications (AVN), Totally (TLY) and Venn Life (VENN). The big short dossier articler is on the runway and I should publish it very soon.
I start with a reader request. I do as you wish. In this podcast I cover MySquar (FRAUD), ADVFN (AFN) and Totally (TLY) in the battle of the anorexic Ethiopian super model balance sheets, Avanti Communications (AVN), Purplebricks (PURP) and ripping off customers as a business model, and also Angus Energy (ANGS). Post bearcast I have just had a good chat with Tim Steer who has a book out soon. More on that when it is published.
I have told this to Simon Liddington to his face but my comments merit a wider audience. I apologise for a dire share tip. I have lost £40,000 myself on Big Sofa (BST) and I must take blame for my own decisions. But I also have words for Arden Partners but the buck stops with the pathetic failure Liddington who MUST GO NOW! I also comment on Avanti Communications (AVN), Ryanair (RYA) and on Rosslyn Data Technologies (RDT) and Avocet (AVM)
First things first. If you want free booze, canapes, a chance to see me rip Dominic Frisby apart on blockchain and bitcoin and to hear presentations from and quiz Falanx (FLX) and Premaitha (NIPT) then book a seat for 16 October in central London HERE. In today's podcast I look at Premaitha (NIPT), Avanti Communicatiuons (AVN), Cabot Energy (CAB) and the scandal it won't discuss, Greka Drilling (GDL), SpaceandPeople (SAL) and add to Gary's piece on a CEO who should be going straight to jail and not collecting £400 on the way, Brian McMaster of Jangada Mines (JAN).
Come home to a real fire...buy a second home in Wales. You remember the sketch. Anyhow, the Mrs and i are looking and pondering because, as you know, she wants to pursue her career and I want to rear goats. The exercise, however, throws up very real questions about house prices. Moving on I look at Bushveld Minerals (BMN), Optibiotix (OPTI), Avanti Communications (AVN), Imaginatik (IMTK), Redhall (RHL) and Mitie (MTO) another company whose former boss helps to make Jeremy Corbyn's quite insane policies seem almost desirable.
In this podcast I look at the REAL state of the Totally I(TLY) balance sheet and I also cover FastForward (FFWD) and the job of a journalist, Cenkos (CNKS) and the future of the AIM Casino, Boxhill (BOX), Avanti Communications (AVN), Pantheon Resources (PANR) and UK Oil & Gas (UKOG)
The action of Big Dave and the inaction of Mr Bear are explained in full. The podcast covers: Optibiotix (OPTI), Avanti Communications (AVN), Anglo African Agriculture (AAAP), Westminster Group (WSG) and IDE Holdings (IDE).
The great news is that our Woodlarks walk has now reached 57% of its sponsorship target. I'll do another training walk this afternoon with Joshua so as we do a quick march how about you check out the latest incredibly generous donations here and chip in yourself? In a long bearcast I cover Tesla (US:TSLA), Fishing Republic (FISH), Kibo (KIBO), UK Oil & Gas (UKOG) as lyin' Steve does the right thing - Frontera (FRR), Conroy Gold (CGNR), TrakM8 (TRAK), Avanti (AVN) and Cabot Energy (CAB). PS Wasn't the football incredibly exciting and a source of such joy? I view myself as British, not English but go on Eng-er-land!
I look at why taking part in the Premaitha (NIPT) placing did not constitute insider dealing but make a suggestion as to how to change the way AIM placings take part. I look at what the Countrywide (CWD) statement means for Purplebricks (PURP) and at UK housing activity, at MySquar (FRAUD) where SP Angel continues to turn a blind eye to crime, at Avanti Communications (AVN), R4E (R4E) and at a new NEX float Tectonic Gold (TTAU) formerly Stratmin and why AIM turned it down and what message that sends to flip flop Ben Turney and Teathers (TEA). Read about my extreme weekend suffering and be generous HERE
Yes, today's training session for my Woodlarks charity walk is down at the gym run by local Tory stalwart Perry. Everyone else there is a muscular body builder. Then there is me. As the muscle men laugh at my pathetic efforts please donate a tenner ( as 95% of you have failed to do) to the 32 mile 28 July charity walk HERE. In the podcast I discuss rescuing junk mail from Oakley's piss and netting £922.77, Audioboom (BOOM) - do the maths, its looking dire even post placing for free speech denying worm Rob Proctor, Feedback (FDBK), Avanti Communications (AVN) and Inmarsat (ISAT), Jim Mellon's Fast Forward (FFWD), LightwaverRF (LWRF), PCGE (PCGE) and AIQ (AIQ).
In today's podcast I look at Falcon Media (FAL), Avanti Communications (AVN), Echo Energy (ECHO), Fishing Republic (FISH) - Gary Newman can you help us out here, Woodford dog Xeros (XSG) and Optibiotix (OPTI). Now the Woodlarks charity walk. We have now raised just over £4,000 (nearly £5,000) with gift aid. A big shout out to Mark McDowell who pledged £666 yesterday (clearly a reference to Brokerman Dan). But 97% of Bearcast listeners are yet to chip in, I am sure you can all spare a tenner so please donate NOW HERE. To those who have donated already, thank you.
Don't get me wrong. I may be a diehard Republican but I loved the Royal Wedding. However the man feted as the hero of the day, that American Bishop really did spout absolute bollocks. I explain why. In this podcast I warn Julie Meyer that today's bombshell exposes are just an appetizer for what is to come later this week. I also look at Arian Silver (AGQ), AIQ (AIQ), Seeing Machines (SEE), Avanti Communications (AVN) and RM2 (RM2).
I start by looking at Gewanter vs devout Christian Julie Meyer - please back heroic Henry HERE. Then I cover Arian Silver (AGQ), Pathfinder Minerals (PFP) and its disgraced CEO Nick Trew, Avanti Communications (AVN), Sprue Aegis (SPRP), Capita (CPI), BT (BT), Communisis (CMS) and Frontera Resources (FRR)
And the next video is the bears with myself, the Dark Destroyer Matt Earl, the Bard of the Boleyn Lucian Miers and a cameo by Nigel Somerville on Advanced Oncotherapy (AVO). On the agenda Telit (TCM), Tesla (TSLA), Mitie (MTO), IQE (IQE), RM2 (RM2),Avanti Communications (AVN), AIQ (AIQ) and a good stack more.
In this bearcast I look at Avanti Communications (AVN), Watchstone (WTG) and Sound Energy (SOU). The maltese Police were meant to have found Julie Meyer and dragged her to the Courts today where a company where she is the sole director faced criminal charges over unpaid wages. Have they found her or is she, as one Meyer-ologist tells me, back in the UK having skipped Malta midweek. If anyone has any information please feel free to get in touch.
Im am putting off assorting my jumbled thoughts on Neil Woodford and the fraud MySquar (MYSQ) into an ordered presentation but that is for this afternoon. Pro tem I look at Avanti Communications (AVN), IQE (IQE), Mobile Streams (MOS), Nighthawk (HAWK) - off 60% today but still at the very least 80% overvalued - and Leaf Clean Energy (LEAF). If you like bearcasts then remember that at UK Investor on April 21 - THIS SATURDAY - one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH. ORDER NOW and we cannt post but will email you a ticket by tonight.
Interrupted by a vomiting cat and by Amazon delivery men this is my third stab at a podcast today. In it I cover FlowGroup (FLOW), Avanti Communications (AVN) and Inmarsat (ISAT), BCA Marketplace (BCA), the crock of shit that is Mosman Oil & Gas (MSMN) and Pantheon Resources (PANR), also a crock. And I revisit Air Partner (AIR) which is still not answering a key question. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH.
I have not slept since Saturday and I am cream crackered. I discuss a few of the movies I watched flying to and from New York. Naturally watching Paddington 2 for the second and then third time was the highlight but there was also Atomic blonde which had great eighties music and lots of violence with commies getting killed. That's fine by me but there were certain scenes I felt a bit uncomfortable watching. I digress. On today's bearcast I cover UK Oil & Gas (UKOG), Mothercare (MTC) and the idea of we bears "preying" on retailers as legal wankers Linklaters suggest. I look at Avanti (AVN) and Pantheon (PANR) and recall an interview I did with Colin Bird. I also look at Nakama (NAK) and discuss how events can spiral badly for a company seen to be in trouble. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and not one but, now, two special guests. Make sure you book a free ticket HERE using the promotional code WINNIFRITH.
How the bombastic Welsh prick David Williams, the former CEO of Avanti Communications (AVN) must be laughing today. Having sold millions of pounds worth of shares himself at almost £8 as he urged others to buy, pushing ramptastic broker notes out for everyone to see, the ruin he left is today fully exposed. But Williams has made £15 million from this wheeze so he's happy.
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?
Okay it was Julie Meyer. Whatever I think of her she is fairly hot in a weird sort of way. Anyhow I explain all in today's podcast. I then move onto IGAS (IGAS), UK Oil & Gas (UKOG), Avanti Communications (AVN), Sabien (SNT) - statement nbeeded Roland "Fatty" Cornish? And finally to Paternoster Resources (PRS) - black bag needed Amanda Van Dyke? PS My NHS Lies podcast I mentioned is HERE
My day has been messed around big time as I explain. Notwithstanding that I discuss Avanti Communications (AVN), React (REAT), Plant Impact (PIN), Forbidden Technologies (FBT), IDOX (IDOX) and Purplebricks (PURP)
Avanti Communications (AVN) the drowning in debt satellite operator, has today admitted that if it does not restructure its borrowings it would be unable to service them. Hence there is a shareholder near wipe-out debt for equity swap planned.
Waseem has a few wise things to say and I note why I always listen to him even if he is being beastly about a stock I own. Do you really benefit from closing your ears to a contrary viewpoint from a guy who is more often right than wrong? No. Elsewhere I look at how gravity cannot be defied forever and Inspirit (INSP), Avanti Comms (AVN), I3 Energy (I3E). Then I answer a question on Falanx (FLX) where I am long and very happy as results loom, about Snoozebox (ZZZ) which has gone tits up (Sheriff 1, Cynical Bear 0) and finally what to make of the Persimmon (PSN) statement.
Avanti Communications (AVN) is now operating without its founder and, until recently, its CEO, the king of the uber Welsh ricks David Williams. Say what you like about a man with an ego the size of Powys, but he was a good bullshitter. Without him keeping the plates spinning and proimising everyone jam tomorrow, the drowning in debt satellite company which never hits any of its targets, would have been toast years ago.
Remember when the FT said Inmarsat (ISAT) was going to bid 140p a share for Avanti Coms (AVN) then at 30p now at 7.26p offer? Today it had a scoop on Telit (TCM) which the company has commented on. There is a grain of truth in the FT scoop but so much of what it writes is just PR spin as I demonstrate in this podcast. I hope the journalists responsible feel soiled and dirty. As for Telit I explain the various scenarios and why the downside is huge whatever happens. I cover UK Oil & Gas. A moron reckons he is going to make money by not paying to read ShareProphets and buying more UK Oil & Gas shares instead. Since his silly email the shares have lost another 14% and are now 4p bid. Next stop 3p then 2p then whatever. Truly the moron will be rich. Not. Then I rant about how troubled Interserv (IRV) lied to investors regarding the reason why its FD left and why that matters.
Boom boom! I suspect that once again the Mrs will regard that that title as rather crude as she did with this offering the other day. I discuss that topic which is close to the heart my old friend Jim Mellon. Then I look at MySquar (MYSQ), a disaster waiting to happen and its link to disgraced Bell Pottinger. Then it is onto Avanti (AVN) before I issue another warning about 88 Energy (88E) not that the morons trying to ramp it will listen. Finally I look at strange share price action and hard maths for Zibao Metals (ZBO)
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?
Avanti Communications (AVN) has surprised no-one with a grim old trading statement covering the year to June 30th 2016. But the CEO who boasts of how he misled investors with a faked demo to raise funding has - as usual - tried to make a shit sandwich more palatable by serving it covered in oodles of jam tomorrow. But there is something that bombastic prick David Williams is not telling you....
You are drowning in debt so what to do? In this crazy world you take on more debt! and so Avanti Communications (AVN) today announced that it had secured a new $100 million debt facility. Read carefully and you will see what an absolute nightmare this news is.
It is not a matter of IF drowning in debt satellites company Avanti Communications (AVN) will eventually see a 100% shareholder wipeout ( right now it is c99%) but WHEN. And it might be rather sooner than most folks think. In two weeks time to be exact. Is there something that its CEO , the bombastric Welsh prick David Williams, is not telling us as he counts his $15-20 million winnings.
I have today received a letter from the Financial Reporting Council about a complaint I made about the uber dodgy accounts of drowning in debt heading for insolvency Avanti Communications (AVN). You will remember that Avanti did 2 transactions which generated cash in of nil and cash out of $14 million and booked that as a sale of $25 million on a 100% EBITDA margin.
Avanti Communications (AVN) the drowning in debt satellite operator run by a man - David Williams - who has boasted about how he misled to investors to raise capital, by faking a product demonstration, has served up a trading update. As ever with Avanti it is packed with jam tomorrow but the reality is that it is the usual Williams fare, a shit sandwich.
Malcolm Stacey is old enough to know about King Canute. In fact he is so old that he was there as a boy when the King sat in his chair on the beach and attempted to turn back the tide. Malcolm surely you remember the day as if it was yesterday? In which case why do you forget this valuable lesson when it comes to Inmarsat (ISAT) and your article today in which you misquote me and get it wrong in so many other ways.
Oh King of the bombasts, David Williams is there something you are not telling us about your crumbling POS business Avanti Communications (AVN). Yes... that £13.6 million deal with QSAT. You know the company that has just gone bust. This is all about revenue recognition you bombastic prick.
Drowning in debt Avanti Communications (AVN) is 'avin' a giraffe once again with a new announcement of deal with no financials attached which is almost certainly utterly meaningless. Today we head to Kenya.
Poster child for the dogs on AIM heading for zero is Avanti Communications (AVN) which plumbed new lows this week with a dreadful H1 statement. For a supposedly maturing business to have interest expenses more than turnover is astounding. This is a product of its recent insane more-debt-for-debt swap.
I answer an email from a reader who reckons the Vlachs, (world's greatest living expert, or so he says, Dr TJ Winnifrith), are really Jews and that opens up a wider issue of Jewish settlements in Greece. Then the main issue of the podcast, why Avanti Communications (AVN) will go to Zero? Quite simply its business model is flawed. There are other red flags to consider but I strike at the crux of the matter.
Employer of convicted felon, the cop mugger champagne Charlie Gibson, investment prostitutes Edison will publish bullish research notes and interviews with any company as long as they dip into their shareholders' funds. The interview with the bombastic prick David Williams who earns a seven figure wedge for running Avanti Communications (AVN) into the ground last summer ( see HERE) was a classic of its genre. Today Edison has published a note saying Avanti shares are worth 109p. The market thinks the report is worthless bog-paper and the shares are down by almost 10% at just 14.875p.
An early bearcast as, much to the dread of my morbidly obese three legged cat Oakley, we are about to suffer an invasion of the working classes. Of course praising my work was not the biggest sin of Plutus Powergen (PPG), that was its oink on rebasing of options and bonuses. But now it has a bigger problem, OFGEM and I reckon it has every reason to be worried. Then I look at 88 Energy (88E) suspended in Oz but not on AIM ahead of a placing. Then it is on to Amur (AMC) again and to Avanti Coms (AVN) whose shares are just 14,5p. That is 14.5p too high. Finally a long look at changes in retail and what that means for us all. That is based on a Wolf Street article HERE. I also refer to the series I am running on my 1970s childhood in rural Northants HERE. Gosh the world changes rapidly.
I am sure that after events today at Cloudtag (CTAG) you had a good idea how this podcast would start! I move on - as I await apolgies from hundreds of morons for all the abuse and attacks - to cover Avanti Communications (AVN), ECR Minerals (ECR), Milestone Group (MSG), Redcentric (RCN), Red Leopard (RLH) and SalvaRx (SALV) where it is placing ahoy! Oh yes, Aidan Earley has served me with a libel suit. Natch I will see the bitchez in Court but I too have a little surprise for Aidan. More on that later. Smiley face.
I will produce a detailed photo article on my manual labours today on the fields at the Greek Hovel later today but I am rapidly concluding that I am getting a bit old for this manual labour malarky. No doubt six months on a building site over the summer will knock me into shape. In terms of the markets Steve Moore is a nice guy. He needs to learn to be a total bastard like me. I comment on Brave Bison (BBSN) where young Steve was just far too nice - someone at Brave should be doing a per walk. In a similar vein I comment on Milestone Group (MSG). Then it is onto the much ramped Frontera Resources (FRR), ditto China Africa (CAF) and then onto Inmarsat (ISAT) and Avanti Communications (AVN). Oh and I have chatted to Colin Bird of Xtract Resources (XTR).
I am still boondoggled by the way that Avanti Communications (AVN) managed to get a refinancing away. You will remember that the cash guzzling satellites business which misses every operational target going was set to run out of what little cash it had left. Amazingly it persuaded its bond holders to agree to accept stacks of interest on its bonds in new ( equally worthless) bonds. And it got the institutional mugs to sign up for more bonds.
You think that following director share buys is smart? Not always. I start with Coral Products where old Joe Grimond really is spoofing us all with a recycling of a dividend that really should not be paid. Coral also highlights those scallywags at Cairn signing off on another RNS lie just like they do for the fraud Cloudtag (CTAG). Then I look at Quindell (QPP) in that vein and at Avanti Communications (AVN) commenting on its refinancing completed today. Then it is onto the hot gossip of the cash crisis at Advanced Oncotherapy (AVO) where I have another story breaking this weekend. Finally I touch on the troubles at Guscio (GUSC)
A wide ranging bearcast today covers: Aurum Mining (AUR), Range Resources (RRL), SpaceandPeople (SAL), Harvest Minerals (HMI), Rosslyn Data (RDT), Cloudtag (CTAG) in the post fact era - Adrican Potash (AFPO) and Avanti Communications (AVN).
Mast Capital the US hedge fund has been the biggest supporter of drowning in debt Avanti Communications (AVN), time and again doubling down on its disastrous investments. But have you noticed this?
112 minutes after the stockmarket closed on the Friday before Christmas Avanti Communications (AVN) published a red flag strewn annual report. I have already raised one mighty red flag HERE and more will follow. But now just consider how the bombastic prick of a CEO David Williams was rewarded so handsomely for failure. Shares in Avanti are just 23p today. They were c£8 when Williams sold millions of quid worth of shares as he ramped away after the launch of Hylas 1 back in 2011.
One of yesterday's macro calls from the bearcast HERE is already looking good with today's warning from Bovis (BVS) which I cover in detail. I also look at Avanti Communications (AVN), United Cacao (CHOC), Cloudtag (CTAG), Harvest Minerals (HMI) and at the latest disastrous news about Slater & Gordon (SGH). Happy Christmas Aussie poltroons: wa,wa,wa wa wipeout! The article about the loathsome Guardian I reference is HERE
Avanti Communications (AVN) finally published its annual report for the year ended June 30 2016 at 2.22 PM on the last Friday before Christmas, 112 minutes after the stockmarket closed. It is packed full of red flags which perhaps explains the publication at no-one is watching O'Clock. So let's start with an admission of what a crap business this is - the metrics on HYLAS 1.
Bah, humbug! Last year’s final trading session before Christmas saw the RNS system take an early bath, but this year it was in full flow right through to 6.30pm, even though the markets closed at 12.30. So who slipped out bad news as everyone was off doing their last minute Christmas shopping? And who went the extra mile by leaving the release of bad news right into the evening? We had some cracking entries on that score, and we have a winner to announce as regards the sweepstake.
I am not in the best of moods today. But that is not the fault of JK Rowling as her film (see yesterday) was actually not bad. In the firing line a detailed look at Avanti Communications (AVN), a lot of questions about the Worthington (WRN) fraud now in liquidation and questions for the FCA/UKLA about that. I look at Cloudtag (CTAG) another fraud and another zero in waiting, at 1Spatial (SPA) and at the bastards at Mkango (MKA) - and how they legged over punters at the Mining Maven seminar. The bastards.
Shares in drowning in debt Avanti Communications slumped again on Wednesday to a new record low of 18p - the market cap is now just £27.6 million and death is imminent. As I pointed out at the weekend, its shares could be suspended on December 30th but its real worry is insolvency - it will be out of cash by January and it looks impossible to refinance. The cry is Timber! This once mighty AIM play is falling and will soon be lying as a rotting corpse on the forest floor. Where has all the money gone?
In this podcast I look at Daniel Stewart (DAN) where Waseem Shakoor closed his short today. I look at the lunacy there, the lunacy at Cloudtag (CTAG) and show how it is the same folks, the sort of folks who are also preyed on by conman Darren Winters. On that note please read THIS ARTICLE TODAY - and tweet it out and link to it on Facebook and on any website you can. I look at Strat Aero (AERO), Ferrum Crescent (FCR), Avanti Communications (AVN) and then at another stock cursed by the frothing endorsement of the Clown, MySquar (MYSQ) which is a right old dog and its well spun RNS today can't hide that.
Well here is an early Christmas present for all good bears, Avanti Communications (AVN) has sort of fessed up to the fact that its shares may be suspended from the AIM Casino on 30th December and that it may be facing a new bond default. Oh dear. If that is not a cue to sell as fast as you can, what is?
I am utterly wiped out after day one of what looks like being a cracking harvest. A full photo report is HERE. In the podcast I discuss votes tomorrow in Austria and Italy and what they mean and why we bears are feeling good about the lack of a Santa Rally. Trump was Santa this year and that rally is over. I explain why I disagree with Malcolm Stacey's article today. I then look at a number of AIM stocks set to slide and why, as I refer to Steve's piece earlier. In focus: Avanti Communications (AVN), Advanced Oncotherapy (AVO), Telit (TCM), Boohoo (BOO), Tungsten (TUNG), Fastjet (FJET), Cloudtag (CTAG), African Potash (AFPO) and I have a few words about Worthington (WRN)
This is beyond satire. On Friday night, as it does every night, the UKLA published via RNS its list of companies subject to potential bids and guess what? Worthington is still there. Worthington as in the company where an administrator has now been appointed and a first gazette published? Yes that is the one. But it gets better.
I have had some emails read out to me and they are dynamite. I hope they will land in my in-box soon. I shall pop into the small church on the way to the Greek Hovel tonight to say a prayer for their safe arrival as if they arrive some folks are in deep deep merde and it will certainly be an ouzo o'clock moment. Please join me in my prayers. Elsewhere I look at Boohoo.com (BOO), Avanti Communications (AVN), Cloudtag (CTAG), Mosman Oil & Gas (SHITE), African Potash (FRAUD), 88 Energy (HYPE) and with that I wish you all a happy weekend.
The Mrs was off getting her hair down ahead of a Christmas Party, the Cloudtag (CTAG) morons were harassing innocent folks to get at me and I was watching a film about submarines with baby Joshua. What a day of domestic bliss. Meanwhile I look at gold stocks and Avocet Mining (AVM) in particular. Then at Mosman Oil & Gas where the City's top oil analyst Zac "the Knife" Phillips needs fisking, Milestone Group (MSG), Avanti (AVN) and Strat Aero (AERO)
Having seen Cloudtag (CTAG) demonstrate one of the golden rules of share trading here is another: run for the hills when a company starts messing with its creditors. Step forward Avanti Communications (AVN).
Spoofing is what Avanti Communications (AVN), Challenger Acquisitions (CHAL) and Rosslyn Data (RDT) do as did Proteus, a scam I exposed back in the naughty nineties. I explain what they all do ( or did) and why they do it and what to watch for. Spoofing is different from lying as Cloudtag (CTAG) does for a few distinct reasons. The Proteus tale is a hoot for what it is worth. Boy those days were fun.
I despair about the liberal elite. After Brexit and Trump they still don't get it as some idiot on Radio 4 demonstrated again today. Oh well, now it is over to the Italians to give them their next kicking. I cover their awful reaction to Trump today HERE. Then it is onto Trump, economics and the market then Mobile Streams (MOS) and them in detail the dodgy goings on with the Avanti Communications (AVN) share price.
I have a few more words on the Triumph of The Donald and the demise of Crooked Hillary. Ha! But my main thoughts on that are HERE. Then I look at Avanti Communications (AVN), Andalas (ADL), Green Dragon (GDG) and Greka Drilling (GDL) before having a detailed look at Mosman (MSMN) shares in which are up by 260% today which is bonkers.
Surely it is only a matter of time before cash burning and downing in debt satellites group Avanti Communications (AVN) calls in the receivers? Keen to assist and bring forward that great ouzo o'clock day for we members of the global shorting conspiracy, I have some more bad news today. Oh dear. Oh dear.
There is a philosophical game called the fishing village. And today we saw this played out in reality by Avanti Communications (AVN) as it struggles to avoid insolvency.
There are many smaller companies on AIM that are heading for zero as they are either almost out of (other folks) cash - Avanti Communications (AVN), IGAS (IGAS) or are plain frauds like African Potash (AFPO) nor Cloudtag (CTAG). But if you are a looking for a big company with plenty of borrow that is ripe for a share price collapse look to Israeli tech stock Telit (TCM). At 278p the market cap is a monstrous £321 million, call it $400 million. That is a rum n coke.
I start this podcast with a look at Avanti Communications (AVN) where I hope you ignored the ramblings of snot gobbler's colleagues at the FT and stayed short. 0p is still looking likely and I discuss the problems IIs face today. I look at Arian Silver (AGQ), a dog with fleas which has served the fat useless bastards on the board and its crony capitalist advisers well as punters have been shafted year after year. I look at Northern Petroleum (NOP) where today's dismal results tell you that it is placing ahoy AGAIN, at Petropavlovsk (POG), Galantas (GAL), Boxhill (BOX) and at Capita (CPI),
Thanks to Steve Moore and Gary Newman we own shares in Xtract Resources (XTR). Both deserve P45s for that. I discuss this disaster as well as another hole in the ground in Bongo Bongo land which stinks - Armadale Capital (ACP). Then it is onto Newmark Security (NMT) - Graham Neary hang your head in shame for this exercise in nepotistic value destruction - before I look at Gulf Keystone (GKP) and the administration waiting to happen that is Avanti Communications (AVN)
Ceteris paribus Avanti Communications (AVN) will be trading whilst insolvent within weeks - its cash will not be sufficient to meet contracted capex and bills payable. That is why it is delaying publishing audited results for the year to June 30th 2016 - no auditor is going to sign off on anything from what is an insolvency waiting to happen. Avanti is trying to hide the awful truth but industry sources are revealing its desperate measures to stay afloat.
The FRC is already looking at the grossly misleading way that Avanti Communications (AVN) bodged its June 2015 annual results. I reckon Avanti is trying to commit an even bigger crime against prudent accounting with its 2016 numbers and they key is a satellite which is now on the move. But Avanti and its ghastly and morally bankrupt Nomad Cenkos, of Quindell infamy, are trying not to reveal the truth. So have five critical questions for Avanti and the shamed Cenkos.
Hat tip to reader G for fisking the horseshit RNS from Avanti Communications (AVN) on Friday which should be read as a tacit admission that the game is over. This remains a slam dunk sell and almost certain zero. Here's why.
A few years ago when listed high street retailers were going down like ninepins they would invariably have the decency to inform shareholders that their equity was worthless shortly before implosion. “Little or no value” was the usual phrase.
Not a lot of people know this but the middle name of Simon Cawkwell, aka Evil Knievil, is "Modesty". He is thus one of many people who has come up with a helpful suggestion on what to name my son born today - thank you to all of you for your good wishes. In today's podcast I look at Avanti Communications (AVN), Rosslyn Data Technologies (RDT), Levrett (LVRT) and Progility (PGY). I should get some sleep after being up all night but it is a very exciting day for us here. I will be back with a longer bearcast over the weekend.
Still no news on Tom Jnr but I shall keep you posted. Actually the Mrs has banned the name Tom and is on a bit of a roll for cot related reasons. On the markets I look at Avanti Communications (AVN), Ocado (OCDO) and in detail Corero (CNS) and Tyratech (TYR) and cannot resist a smug mention of Wishbone Gold (WSBN) after my weekend comment HERE.
They don’t call this the silly season for nothing. Shortly after Inmarsat (ISAT) announced on August 1st that it was not interested in Avanti (AVN), a story appeared in the FT saying that it had in fact been willing to pay “at least” 140p per share (subject to due diligence) right up until the end of July, around five times the price at the time.
Shares in Avanti (AVN) peaked at c50p following the reports in the FT that Inmarsat (ISAT) might have considered a 140p bid, a claim that seems ludicrous given the fact that Avanti is drowning in debt and needs a refinancing within weeks or it is tits up time. The shares have now drifted back to 37.375p today. Folks are starting to panic...perhaps they have looked at the bonds.
Firstly I have a problem with my box set of "The Omen" and ask for your help. I then discuss in light of today's three legal scoops with documents falling into my paws ( Strat Aero - HERE, Iofina - HERE and Golden Saint Resources - HERE) the 3Xs who help investigative journalists do their job and my encounters with all three on Quindell and other cases. At a company level I look at: Card factory (CARD), Iofina (IOF), Noricum Gold (NMG), Avanti Communications (AVN) and xCite Energy (XEL) and i also discuss why Cloudtag (CTAG) shareholders are like a swarm of wasps and what that means.
I have commented on Avanti Communications (AVN) twice in two days on the bearcasts HERE and HERE. Today with the shares zooming ahead to a peak of 50p (they are now 44p) the company commented but said nothing at all. Ronan Keating would be proud.
Uber Bombast David Williams stated:
Earlier this week I discussed HERE how eternity in hell might involve being lectured by a ponce from Bristol City Council on Health & Safety Rules and EU regulations on child car seats. I have another vision of hell today and it involves the Mother in law, Mothercare and discussions about prams. On other, more stockmarket related matters, I discuss, in some detail, Avanti Communications (AVN), Grafenia (GRA) and Glenwick (GWIK). I have a few more words on our devastating expose earlier today (HERE) on Strat Aero (AERO) and I offer praise up to the delightfully politically incorrect Anthony Coombs of S&U (SUS) for his trading statement today covering Brexit in which he sticks it firmly to the liberal chattering classes of doomsayers.
Oakley and I are bracing ourselves for the arrival of the mother in law. Wish us luck. At least I can flee to Shipston tomorrow, my poor cat is trapped with his Pokemon. Then I look at Avanti Communications (AVN) where the shares are surging on the back of an FT report - is this bogus? I look at Messaging International (MES) where I am not interested even after the fall, Magnolia Petroleum (MAGP) and a sector read across from the dire news earlier (HERE), Scotgold (SGZ), Johnston Press (JPR) and then do some detailed maths on African Potash (AFPO) and the loan from the FD's wife which could kill it stone dead on September 1.
Avanti Communications (AVN) may try to con us into thinking that it is a bid target but the reality is that its best hope is that bondholders take a haircut in any takeover. that means shareholders face a wipeout. It is more likely that no-one bids and this is a zero. So when do you think Avanti is going bust. Vote now and before a midnight deadline in a reader poll. The shares are 22.5p today and falling. So vote early, vote often, vote below:
When I go to hell it will be to spend eternity in an ante-natal class such as the two hour ordeal I endured today. I am unbelievably angry at having wasted two hours of my life on this cobblers. Moving on I look at ECR Minerals (ECR), Gulf Keystone (GKP), Avanti Communications (AVN) Eden Research (FRAUD) in the wake of the demise of its sister company Environmental Recycling (see HERE), Braveheart Investments (BRH) - run by an old Sefton man, African Potash (AFPO) and its partner in slime Blenheim Natural Resources (BNR)
Three days ago Sky News reported that Inmarsat (ISAT) had approached Avanti Communications (AVN) with a view to making a bid. This was, as it happens, not true and today Inmarsat has exposed the lie in full. The story here is not only of the looming financial bankruptcy of Avanti but of its full blown moral bankruptcy too. This is shocking at every level, another milestone of shame for both Avanti and for the AIM Casino.
The last podcast recorded with the audience of my father for a few days sees a few comments on how he yearns for the socialist paradise of Albania in the good old days. Whatever. I look at Nostra Terra (NTOG) and what it must do and another bear point for Avanti Communications (AVN) I had overlooked, at FastForward (FFWD) and why it is such a dog with fleas and at broken business models in both new media and the European Banks. The truth is that the Emperor's New Clothes, in both cases, really are not that impressive.
Moody's was damning enough on Avanti Communications (AVN) as I noted earlier. The clear takeaway was that the shares were worth 0p given Moody's view that bondholders were in for a haircut. Now I bring you what the other credit rating agency S&P says. It is equally bearish.
Moody's has downgraded its ratings on the junk bonds of Avanti Communications warning bond holders that they would probably get just 35-65% of their cash back. In that case the equity is worthless - note the explicit warning that Avanti will face a cash crisis potentially within weeks. Moody's states viz a viz the bonds " Moody's sees a default by Avanti over the next 6-12 months as almost inevitable." On that basis the target price for Avanti shares has to be ZERO. Sell while you can.
I am challenged to comment on Cenkos (CNKS) as an investment in light of todays news on its role in the Quindell fraud (HERE). Okay, I do my best. Then it is on to Techfinancials (TECH), Advanced Oncotherapy (AVO) and some friendly advice for Malcolm Stacey, Gulf Keystone (GKP), XCite Energy (XEL) and then I end with Avanti Communications (AVN) where I hope you understand the historical analogy.
Tomorrow my father faces his interview at the Conservative Club and I have been coaching him on what he can say as a deluded lefty to get access to the cheep beer. Elsewhere I discuss how share prices can defy gravity temporarily and why with reference to Gable Holdings (GAH) and Gulf Keystone (GKP). Then I move onto Nyota (NYO), Avanti Communications (AVN), Strat Aero (AERO) and then, in some detail, the dog run by liars that is African Potash (AFPO)
I had the weirdest of phone calls on Friday from a chap who insists that as a bear of Avanti Communications (AVN) I have got it wrong. I have spoken about his thesis to Lucian and having thought about it over lunch at the White Bear having run the gauntlet of Shipston's Bulgarian Big Issue seller, I am more sure than before that I am not wrong to remain bearish. I discuss the bull vs bear debate giving both sides of the argument and my conclusion.
A short bearcast because of the family situation flagged up yesterday. I start with the election of Theresa May which seems to have pleased the markets BUT NOT ME!. Then I look at Orchard Funding (ORCH), IGAS (IGAS), Avanti Communications (AVN) and Golden Saint Resources (GSR)
Oh dear, this is the end for you my friend....Avanti Communications (AVN) has announced a "strategic review". In other words it has admitted that it s well and truly fecked. Shareholders should, whatever the weasel words of the RNS, prepare for wipeout. This is - as we pointed out in a 25 minute presentation at UK Investor Show, a zero. The statement is typical King of the Bombast David Williams horseshit.
Having exposed the appalling goings on at the Daily Telegraph with regards to going bust Avanti Communications (AVN) last week, now it is the turn of the sister paper the Sunday Telegraph which on its from page today has a quite shocking piece on IGAS. This might as well have been dictated by the PR flunky it is so jaw droppingly bad.
Shares in Avanti Communications (AVN), once the darling of AIM, collapsed by 60% yesterday amid all sorts of horrors emerging. It is a big story and most papers are covering it, at least with a mention. But in the Daily Telegraph there is nothing ....except
I have spent the morning getting twitter grief for this article but the one polite twitter enquiry concerns BoxHill (BOX) and I answer that in this podcast as well as explaining why shares are both up and down since Brexit - it all depends how you look at it. I also cover Gulf Keystone (GKP), Bluebird Merchant Ventures (BMV), Advanced Oncotherapy (AVO) and Avanti Communications (AVN), I meant to talk about Bovis (BVS) but forgot. I shall try to remember tomorrow when I am down to make a gooseberry crumble. I shall report back on that over the weekend.
I would expect the collapse in the Avanti Communications (AVN) share price to continue. You cannot say this site did not warn you. In this bonus bearcast I run through 14 red flags which apply to Avanti and which I managed to jot down in less than ten minutes. Drat! I missed an obvious 15th: the promise to move from AIM to the Main Market. It did not happen. Companies that promise the jump but don't make it (think Quindell) are always red flagged.
Yesterday I served up pictures of four Welsh folks and asked for the odd one out and - to the suprise of some readers, as you can see HERE, it had nothing to do with sheep. The four pictured taffies were: Cerys Matthews the gorgeous lead singer with the uber-Welsh group Catatonia ( part of the cool Cymru scene of the 1990s), Welsh windbag Neil Kinnock, Welsh soccer star Gareth Bale and David Williams the uber Welsh CEO of Avanti Communications (AVN) who had a rather bad day at the office yesterday and is going to have another shocker today
Yesterday Avanti Communications (AVN) issued a dire lack of profits warning. Having warned folks in a special 25 minute session at UK INvestor (HERE) that this one was heading for the knacker's yard, the bear community is vindicated. Our big call is looking good. But have you seen how the existing debt ( in which Avantis drowning) responded. It says the shares - down 60% to 24p yesterday - are near as damn it toast. The target here is 0p or very close to that.
Look back at our coverage of satellite disaster story and serial issuer of fascistic lawyers letters Avanti Communications (AVN) you cannot say that we did not stand up to bambastic bully boy CEO David Williams and warn you. Today there has been a pre close trading statement, the shares have crashed by 60% to just 24p and the Fat Lady is starting to gargle. My father & I will crack open the ouzo early today.
Shares in Avanti Communications (AVN) are tanking after today's shocking trading statement leaving its uber Welsh CEO David "the bombast" Williams less than happy. So below we have pictures of four Welsh folks - after recent events which is the odd one out? Answers in the comments section with a deadline of midnight tonight.
Having asked for readers tips for 2016 for the amazing prize of lunch or dinner with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is a monthly update on performance (to be eligible needed to have selected a buy & sell pick and those to be listed on the LSE or on the AIM Casino)...
Why are shares in TrakM8 (TRAK) plunging. This is not a "Winni-wobble." The company needs to make a statement either officially or via its spokesman on earth, Paul Scott. Elsewhere, after a visit to Mistra which was amazing, I look at Gulf Keystone (GKP), death merely postponed, Avanti Communications (AVN ) - ditto - Edenville Energy (EDL) ditto and Cyan (CYAN) where I explain who is shafting Joe Retail: brokers and management.
The Mrs is sitting in the room and thinks my analogy is a bit sexist. Fecking political correctness gone mad, that is what I say. In today's bearcast I cover, in some detail, African Potash (AFPO), Avanti Communications (AVN) and Fitbug (FITB).
On 16 May 2016 Avanti Communications (AVN) published a third quarter trading statement in which the company's bombastic, pompous and no longer credible CEO David Williams declared "Avanti is making good progress." Shortly afterwards he proudly boasted that he had bought shares in the company at 91.25p. Today, less than four weeks later the shares have collapsed to just 53.25p to sell. On a daily basis they are being marked lower and lower. What is happening and what must Williams announce on Monday?
Paid for researcher Edison is, of course most famous as being the employer of convicted felon Champagne Charlie Gibson but it is also there to take cash for helping ramp shares in piss poor companies. And few companies could be as piss poor as Avanti Communications (AVN) run by uber bombast David "not worth a million bucks a year" Williams. But not only does Edison publish crap research on Avanti with a target price of 427p. It also does video interviews. Cripes, the bird quizzing Williams makes Zak Mir look like Jeremy Paxman on steroids. As you enjoy this shite from Edison you will note the shares are now just 59.5p as Williams seeks emergency bailout funding. Oi, taffy its time for a statement!
On May 16 Avanti Communications once again (AVN) lied to its investors. Since then it has been scrabbling around trying to complete an emergency refinancing. As the shares have tanked from 90p to 64p (and falling) since the lie is it unfair to ask the company and its bombastic CEO David Williams how things are going? First, however, lets look at the lie.
In today's podcast I start with a few words on Greece as I head up to the Greek Hovel and the snakes. Then I move through TrakM8 (TRAK), Avanti Communications (AVN) and onto Boxhill (BOX). Lord Razzall: we will give you the day off to compose a resignation (in disgrace) letter, there are two more bombshells for you but they can wait until the weekend. I look at Bushveld (BMN), Jupiter Energy (JPRL) - and what its crisis says about oil companies in general - and finally I spend a good time taking apart Mayair Group (MAYA)
Ho Ho Ho, documents regarding Boxhill (BOX) have now arrived at Sheriff Towers. Can you hear me Lord Tim Razzall, are you sweating yet? I think Boxhill will beat Avanti Communications (AVN) and Eden Research (EDEN) to zero but all three are fighting hard to win and are discussed in detail. I look at Ascent (AST), Fusionex (FXI), Falcon Acquisitions (FAL) and Challenger Acquisitions (CHAL). Woof Woof Mark Gustafson.
Avanti Communications (AVN) started its AIM career not as a satellites business but as a provider of screens for pubs and shops, the loss making tin cans in space business came later. At that point uber bombast CEO David Williams decided to "lose" the original business via a demerger. Shareholders in Avanti were given stock in both entitites. Now track what happens next.
At the UK Investor show last month, during a discussion of Avanti (AVN), I listed a random sample of the many instances where the company has made statements which later prove to be wildly optimistic, or are contradictory to earlier ones. Last week’s 3rd quarter update, 16 May, provides another gem: It states:
Institutional investors continue to sell. But Avanti Communications (AVN) directors hope that piffling share purchases by themselves will persuade mug punters to follow suit. Do I care that David Williams (total package last year $1,154,445 after another year of mega cashburn) has bought 5,434 shares at 91.5p taking his holding to 1,709,144. Seriously? A guy who earns c$20,000 a week for trainwrecking this company has bought £5,000 of shares? And that is meant to show he has faith in the company? If anything it shows he has none. Now to the Q3 trading update.
Perhaps that is why drowning in debt Avanti Communications (AVN) has been unable to hit any of its targets and perhaps it is why it is going to run out of cash his year. It seems that the price it can charge for satellite capacity has fallen by up to 80%. Who says so? er...
I shall put the photo up later on TomWinnifrith.com but this is the first snake of the current greek trip - day 6 and one down!. I am a modest man, as you know, but feel that I have little to be modest about in saying that this really is a most excellent podcast covering Nostra Terra (NTOG), Avanti Communications (AVN) and a new lawyers letter,, Outsourcery (OUT) and LGO Energy (LGO) all in some detail.
And so the four bears wandered onto stage for the final presentation at UK Investor Show. We majored in on why Avanti Communications (AVN) was a 0p stock but we covered many other stocks besides. Enjoy
As ever, when Avanti Communications (AVN) sees its share price slipping it announces a new contract win. There is a brief rally, and the rally gets smaller each time this trick is pulled, and then the shares start to fall again because - as we know - this company is hurtling towards insolvency. And so with the shares sub 90p to sell on Friday what do we have today?
The distractions are explained in the podcast and the fascist in the wind link is HERE. In the main podcast I look at Ascent (AST), Ncondezi Energy (NCCL), Forbidden Tech (FBT), Interserve (IRV), John Lewis of Hungerford (JLH) and Avanti Communications (AVN). Tomorrow I head to Greece
Oddly enough it seems as if the bombastic boss of Avanti Communications (AVN), uber Welsh David Williams is not keeping his poor, and getting poorer by the day, followers up to speed with all the bad news from his worthless company.
I can't say why but it concerns a greedy and selfish individual and I am now in a very bad mood indeed. In this brief podcast I cover Andalas (ADL), Avanti Communications (AVN), Outsourcery (OUT), African Potash (AFPO) and Butterfly Corporate Finance.
You were probably wondering what deal Avanti Communications (AVN) was going to do this year to increase its sales after last year's creation of revenue when it was the only person paying money - the deal the FRC is looking at HERE. And you were also wondering how it was going to raise some cash. Natch it would not be by actually selling oodles more capacity on its satellites would it?
I have writer's block. This is partly Steve Moore's fault and my own for writing things that bore me. It is partly my keyboard which does not me writing fecking hell or damn. On the markets I look at Iofina (IOF), Avanti Communications (AVN), Imaginitik (IMTK), SFO Prosecutions, Strat Aero (AERO) and I also again comment on the great news about Darren Winters from earlier today.
I have to date reported four companies to the Financial Reporting Council asking it to investigate accounts which I believe to be fraudulent and or misleading. So where am I with these four and what is the common thread?
Historically the pattern with Avanti Communications (AVN) has been it is asked an awkward question like how much business do you do with ISIS? Or why is it that your 2015 joke accounts are being looked at by the FRC? Or, if your bonds are junk rated when do you go bust? Its shares tumble. Then it announces a new ramptastic contract win either of an unspecified amount or for many years in the future. Its shares bounce but then fade and slump when the next question is fired over.
One of the benefits of being a short seller is the joy and happiness that one engenders in others when being sandbagged by a short call that goes wrong. I have closed out my position in InternetQ (INTQ) at a substantial loss,
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details the shorted AIM shares at the end of February 2016 (by net short position %) - and if the positions have increased (red), reduced (green) or remained unchanged (black) since last month...
On Friday Credit Ratings Agency Standard & Poor's stuck the knife into Avanti Communications (AVN) with an alert which should cause all shareholders to run to the hills. Avanti's sole response: to announce a meaningless Turkish contract. S&P is damning. It writes:
You just cannot make this stuff up. The difference between Avanti Communications (AVN) PR hype and reality is chasmous. With a hat tip to reader BlueFrew, let us have a quick look at the £60 million programme announced in December by the Government in partnership with Avanti to roll out broadband access to 300,000 rural homes across the UK. You want the internet Mr Crofter on a remote Scottish Island so you can download some sheep porn? To hell with cutting the deficit, the ever grateful taxpayer & Avanti are here to help.
Are you starting to see a pattern here? Avanti's (AVN) shares slide. Folks ask a couple of difficult questions and "hey presto" the company announces a totally meaningless contract win but will not answer the questions. There is a brief rally in the share price but each time uber Welsh bombast David Williams pulls this trick it has less and less effect. David you surely know that you can screw some of the sheep some of the time but you can't screw all of the shareholders all of the time.
If a company organanises itself with complex subsidiaries with opaque accounts that simply contradict themselves you know to run a mile. Think Quindell. Now welcome to the world of Avanti Communications (AVN) - target price 0p - and its wholly owned subsidiary Avanti Communications Infrastructure Limited. The numbers just do not make sense.
With Boxhill Technologies (BOX) still in suspension, and plenty of comment already on this site, I didn't think there would be much to say for a while, but Tom's pieces on Avanti Communications (AVN) HERE & HERE got my Companies House antennae whirring and what do you know?
With a hat tip to a reader who is clearly as much of an anorak as I am, I trek over to Companies House and discover that on 9 February, shortly after its piss poor interims, folks behind Avanti Communications (AVN) established three new Companies. Hang on Henry, what on earth is David Williams, the most bombastic CEO on AIM up to?
I am late to the shorting party with Avanti Communications (AVN) but given that the interim results yesterday almost drove my apoplectic with rage I have jumped in firmly with two feet.
Uber Welsh king of the bombasts, David Williams of Avanti Communications (AVN) tries his best to polish the turd which are interim results out today. But look behind the headlines and the key metrics are dreadful. Look at the yield to maturity on the bonds. The shares could well go to 0p and sooner than most folks think as I explain in this special podcast.
My earlier podcast on oil was I thought very balanced but one shareholder in Gulf Keystone (GKP) disagrees as you can see in the comments section beneath that excellent Bearcast HERE. My fried you are in denial just like Comrade wildes on LGO Energy (TOAST) and those who still believe in Avanti Communications (AVN). I refer to all three stocks but Gulf in particular as I examine the various facets of this common investor trait of denial.
The Mrs got a little confused and as a result she is in the doghouse and I am still in Bristol. I hope to arrive in Warwickshire to see my father this evening. Back on the markets Mellon-madness has broken out. I examine the joke that is the Condor Gold (CNR) ramp and also FastForward (FFWD). My pal Jim Mellon is clever..but not that clever. It is then onto worthless POS Arian Silver (AGQ), Asian Citrus (ACHL), Ten Alps (TAL) and the wider issue of earnings visibility discussed here. My Avanti Communications (AVN) reference is HERE and that is it for today.
Before Christmas shares in Avanti Communications (AVN) traded at c200p. This morning they touched 100p although they now trade at 117p. What on earth is going on? The only news from Avanti's CEO, the uber-Welsh king of the bombasts David Williams is that he will be presenting interims on 4 February. However it is not just the shares that are tanking, so too are its bonds, they are now officially uber junk and as such five massive questions need to be answered by the company with the numbers. For what it is worth my target price remains - as per Gold & Bears see HERE - 0p.
I have long been a critic of Avanti Communications (AVN) and although the shares have performed badly lately they could and should be trading a lot lower.
In junk bond fund land the closures are accelerating. I look at what is going wrong and why it will go more wrong in 2016 and the UK PLCs which will find themselves deep in the merde as a result. I identify, Avanti Communications (AVN), Gulf Keystone (GKP) and IGas (IGAS) but I am sure you can think of others.
On December 17 Avanti Communications (AVN) served up a quarterly update. From its bombastic CEO David Williams, a man who not only admits to, but boasts of, misleading erarly stage investors with a fake demonstration, there was the usual mix of bluster and misleading metrics. The only thing that commends Avanti is that it never fails to miss operating targets - it is, in this respect, the most consistent company on AIM.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at shares in Audioboom (BOOM), Avanti Communications (AVN) and IQE (IQE) setting share price targets for all three stocks.
This was one of the sparkiest sessions at Gold & Bears and I loved it. Each of myself, the bard of the Boleyn (Lucian Miers), the Dark Destroyer (Matt Earl) and Baby Bear (Graham Neary) selelected two stocks we thought were going to zero and explained why. They were: Fastjet (FJET), AO World (AO), Gulf Keystone (GKP), Slater & Gordon (SGH), Avanti Communications (AVN), Plus500 (PLUS), Tungsten (TUNG) and - bugger me - I can't remember Matt's other pick. Watch the video to find out, its a stormer.
In today's podcast I update you all on the olive harvest - I managed four hours in the fields today despite still being in real pain. But not as much as LGO Energy (LGO) - its RNS today smells of desperation. For strategic review read "the game is up" and that also applies to Kolar Gold (KGLD). I comment on Avanti Communications (AVN) where the share price crumble is accelerating - remember debt is crack cocaine for management but for shareholders it is bad for your wealth. I comment on Silver Falcon (SILF) and tick off the grossly irresponsible, Justin the Clown of ADVFN and also on Defenx (DFX), rapidly becoming an IPO omnishambles. Then onto InternetQ (INTQ) where it is now "game on" but I end with Antrim Energy (AEY) where a concert party of Brokerman Dan, market abuser Chris OIl and ADVFN (AFN) head honcho Clem Chambers have just taken a 3% stake.
David "King of the City bombasts" Williams of Avanti Communications (AVN) always responds to weakness in his company's - grossly overhyped - share price in the same predictable fashion - he announces a contract win. But each time he announces a deal - no value disclosed natch - the market is less and less impressed. This morning what investors really want to know is whether Avanti is making money from evil terrorist murderers ISIS?
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares in Avanti Communications (AVN), Outsourcery (OUT) and Summit Therapeutics (SUMM)
The suggestion from the German paper Der Spiegel is that may well be. The paper has run a full story despite strong suggestions from Avanti Communications (AVN) lawyers that it should not do so. Given Avanti's oft repeated claims that it wins major business from the UK military perhaps it might wish to issue a formal statement. The full article is below.
Now that, post the fraud Quindell (QPP) I am such good friends with the only watchdog with teeth, the Financial Reporting Council (FRC) I have written to my pals asking them to investigate whether the 2015 accounts for Avanti Communications PLC (AVN) give a true impression of how the business is doing. I do not think they do. But Avanti also has other worries which is why the shares will crash.
Of the many lessons to be learned from the Globo (GBO) fiasco, perhaps the most salient is the danger of deriving comfort from institutional purchases. In the final days, as an obscure German fund named Forum was hoovering up stock (the founder’s stock, as it later transpired) a lot of impressionable punters were doubtless persuaded not to sell and maybe even “average down” on the basis that these guys are professionals and therefore “must have done due diligence”
King of the AIM bombasts the uber Welsh David Williams of drowning in debt Avanti Communications (AVN) has polished up another turd, that is to say his Q1 trading statement. Naturally Taffy Williams is delighted with all the progress being made. He always is as target after target is missed.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at shares in Avanti Communications, Ithaca Energy, Optimal Payments setting share price targets for all three stocks.
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares of Avanti Communications (AVN), Providence Resources (PVR), Pure Wafer (PUR) and offer some share price targets.
Oh dear. Last Autumn the big ramp from supporters of Avanti Communications (AVN) was that it would sign a major deal with Facebook to provide internet in Africa. It was even suggested that facebook might bid for the AIM listed company with the most bombastic CEO on this planet, Mr David Williams. Oh dear. It ain’t going to happen.
You have to hand it to Avanti Communications (AVN): faced with its fourth annual earnings or revenue miss on the trot it has managed yet again to paper over the ever-widening cracks in its creaking edifice.
In today's podcast I reflect on the Wales triumph last night but on a bigger triumph: landing Sam Antar for Gold & Bears on November 28 - the speaker lineup is now full. Go book now as Sam is a superstar. Then onto Globo (GBO), Avanti Communications (AVN), APR Energy (APR) and how to play the UK housing bubble as a bear. And I explain why it is a total bubble.
How can I think straight when Corrie live is on tonight? Anyhow, I continue my debate with Paul Scott on Boohoo.com (BOO). He thinks I'm wrong HERE but I suggest a few points he may wish to consider. Then Lucian Miers flags up the curse of Welsh folks called Williams involved with PLCs - David at Avanti Communications (AVN), Jim and Tony at Arian Silver (AGQ) but is David at Tungsten (TUNG) a sheep shagger? And what about Chris Oil? We need to know. I discuss Arian in its own merits plus Europa Oil & Gas (EOG), Mosman Oil & Gas (MSMN) and in detail Premaitha (NIPT).
Jeremy Corbyn was right not to sing the Natonal Anthem and its a poor song anyway - that was my earlier podcast today which you can hear HERE. In terms of the markets it is all my Christmases at once - a chance to comment on friends including the greedy bastards who run Vislink (VLK), fraudster Rob Terry, Daniel Stewart (DAN), Imaginitik (IMTK), ValiRx (VAL), Motive TV (MTV) and also on SeaEnergy (SEA) and Avanti Communications (AVN). Then there is comment on the bad AGM result at Hotel Corp (HCP) - victory for the crony capitalist bastards on the board - all that is wrong about AIM. And I start with words of praise for my pal Jim Mellon noting events at Copper Development (CDC) and also at Glencore (GLEN) - is this a Burmah Castrol moment?
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at shares in Avanti Communications (AVN), Lonmin (LMI), Optimal Payments (OPAY) and set share price targets for all three.
It is now over two months since Globo (GBO) - the international provider of Enterprise Mobility Management - announced its intention to raise up to $180 million in high yield bonds, despite apparently having no real need for the funds with net cash of €47 million.
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at Avanti Communications (AVN), BAE Systems (BA.), Velocys (VLS)
Shares of Avanti Communications (AVN) have had a rather difficult history over the recent past something which is said on both a technical and fundamental basis.