Keyword results: Aim Cesspit

OCT
OCT
PREMIUM CONTENT

Octagonal interims & another fail for the worst FD on AIM and the worst Nomad in stab City

Just a few hours before voting to delist Octagonal (OCT) from the AIM Cesspit earlier this week, shareholders in the company were presented with unaudited interim results for the six months ended 30 September 2020. With AIM’s worst FD, Nilesh Jagatia, in charge and London’s worst Nomad, Roland “fatty” Cornish, signing off, you will not be shocked that there were a raft of howling schoolboy errors.

Subscribe to ShareProphets to access Premium Content
RMS
RMS
PREMIUM CONTENT

Remote Monitored’s disgraced board plays the victim and threatens their own shareholders: Brown and Ryan must go NOW!

Okay, the pantomime at the theatre in Wrexham is cancelled this year along with Christmas thanks to the clinically insane leader of Wales, Mr Mark Drakeford. Instead, thanks to AIM listed Remote Monitored Systems (RMS), we are treated to a performance of a new pantomime. Chancer spivs Paul Ryan & Trevor Brown, your AIM Cesspit career is behind you! Oh no it’s not! Oh yes it is! Or it soon will be.

Subscribe to ShareProphets to access Premium Content
Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: Another Advent question I bet 95% of the Under 30s would get wrong

I start with Joshua’s Advent calendar, Then it is onto tales of boardroom greed and naughtiness at Octagonal (OCT) which is to leave the AIM Cesspit. Based on what I reveal today, where do you think its cash will go?  Then it is onto Verditek (VDTK), Bidstack (BIDS) and a second company run by a former Tory MP, Powerhouse Energy (PHE) where the man in charge is sleazy Tim Yeo. 

Subscribe to ShareProphets to access Premium Content
NAK
NAK
PREMIUM CONTENT

Nakama to become a cash shell, but a value investment?

Shares in recruitment group Nakama (NAK), once called Highams and a perennial dog in the bottom tier of the AIM Cesspit, are up by 15% on news that it is to sell its ongoing businesses and become a cash shell.  As ever, investors are a tad over-optimistic.

Subscribe to ShareProphets to access Premium Content
PREMIUM CONTENT

DeepVerge - another cash guzzling Covid ramp where the valuation is insane

I see that, on twitter, the usual assortment of lunatics are frothing about DeepVerge (DVRG) another utterly overvalued piece of junk from the AIM Cesspit. Naturally there is a Covid angle and appropriately enough it is a lavatorial one. It is not just Bulletin Board morons pushing this rubbish but esteemed broker Turner Pope has also stuck its nose into the sewerage system (literally) with a gushing note out today.

Subscribe to ShareProphets to access Premium Content
RMS
RMS
PREMIUM CONTENT

Gareth Cave & his tweeting – not the real issue at Remote Monitoring Systems but a stinker none the less

The Times newspaper today flags up a series of tweets which, almost certainly, break AIM Rules and relate to Remote Monitoring Systems (RMS), a company rapidly becoming the poster boy for the AIM Cesspit. They are not the hanging offence but there is a hanging offence out there…

Subscribe to ShareProphets to access Premium Content
PREMIUM CONTENT

Ex AIM casino posterboy Gate Ventures goes bust: £24m questions for Fergie, Lord Grade, Fatty Cornish & others

It was slung off the AIM Cesspit after just a few months back in 2015 but not before Roland “Fatty “ Cornish, London’s worst Nomad, had made a killing from listing fees and cashing in warrants and dumping shares. Now the company has gone bust … readers of this website cannot say that they were not warned that this would end in tears.

Subscribe to ShareProphets to access Premium Content
Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: The Mail on Sunday takes dick-tation from NMC's PR guys & shall I take down ADVFN's paedo guy?

First things first. It is 6 months and 1 day to the 3 Rogue Bloggers for Woodlarks walk. I did a short train yesterday at Moel Famau of which more later. Anhow, if you enjoy bearcast please show so by donating HERE.  Thanks in advance for your support and also for the birthday wishes. As you can see in the comments section HERE there is a poster on ADVFN who seems to think he can save Versarien (VRS) by suggesting, falsely, that I am a paedophile. Normally I'd ignore such pond life but I am almost tempted to teach him a very expensive legal lesson in libel law. What do you think?  Then it is onto a story dictated by NMC Health's (NMC) PR team to yellow journalists at the Mail on Sunday. The real import of threats against Caron Block & Muddy Waters is very negative for NMC. Finally I have a bombshell for AIM Cesspit followers tomorrow. Watch this space! 

Subscribe to ShareProphets to access Premium Content
MPL
MPL

Mercantile Ports & Logistics – how do AIM and Nomad Cenkos put up with the stench?

Okay AIM is loathe to boot off any company given how the World’s Most Successful Growth market is shrinking and Lagos Securities just wants retainers so will act for anyone, I answer my own question. But even by the standards of the AIM Cesspit, surely there comes a point where one says “enough is enough.”

Bear
PREMIUM CONTENT

Tom Winnifrith – the 10 most overvalued stocks on AIM

Yesterday Waseem Shakoor’s top six stocks from the AIM Cesspit which he thought set to crash were revealed HERE. That seems to have annoyed a fair few folks on the Bulletin Boards so, on that basis, I thought I’d offer my top ten stocks to crash. In no particular order:

Subscribe to ShareProphets to access Premium Content

Bidstack doles out options like confetti – this is not a cost-free exercise it’s a distraction

I remember long ago doing a seminar with some CEO or other. I cannot remember who it was but it was one of the slugs operating at the lower end of the AIM Cesspit. I pondered whether his interests were aligned with those of ordinary shareholders: how many shares do you own? I asked.

Charlie Wood of Mayan Energy infamy – an era ends for AIM

News last week that AIM diluter in Chief (and that’s saying something!) Charlie Wood of Northcote Energy/Mayan Energy/Attis Oil & Gas (AOGL) reincarnations has departed stage left at Attis brings to a close a quite unprecedented record of dilution on AIM. This individual raised more than £15 million over the last few years and, in the final analysis, produced the grand sum of just over £100,000 cash at the last set of interim results and a de minimis amount of oil from the company’s Texan oil fields. If ever there was an abject illustration of how AIM is run for the cosy cartel of Nomads, brokers, PR companies and inept management rather than shareholders this is it.

PREMIUM CONTENT

If Vast Resources had a proper Nomad there would be a full steward’s into its placing disclosures

But it does not. Its Nomad is Beaumont Cornish, run by Roland “Fatty” Cornish who only acts for companies that are the dregs of the AIM Cesspit. They can say what they want in an RNS, fatty will sign off on it before waddling off for a four course breakfast, luncheon or dinner. Bad companies use Fatty as he will sign off on anything. Good companies do not want investors assuming they are dodgy so use another Nomad. And that brings us to Vast.

Subscribe to ShareProphets to access Premium Content
PREMIUM CONTENT

Bulletin Board darling Bidstack flouts AIM rules, it sitting on a profits warning & is grossly overvalued

Let us be clear: bulletin board darling Bidstack (BIDS) has flouted AIM rules, it sitting on a profits warning & is grossly overvalued.

Subscribe to ShareProphets to access Premium Content
MRS
MRS

Oooo Er MRS, the comedy shit show continues – shares in Management Resource Solutions suspended

Shares in this posterboy for the AIM Cesspit fell in morning trade. Pure coincidence natch! Nothing to see here officer, move along quickly please. At 2.20 PM the Oxymorons at AIM Regulation suspended trading in a company we have pointed out is drowning in debt and red flags and is almost certainly worthless on many occasions as you can see HERE. At 4.01 PM Management issued a statement. You cannot make this shit up. Only on the AIM Cesspit.

Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: £2m coke & hookers money for the City boys, shareholders lose 80% - another day on the AIM Casino

In today's bearcast I look forward to the new show on Wednesday which will be half recorded by the end of today. I cover Mortice (MORT) a tale of shareholder woe friom the AIM Cesspit, Kier (KIE), Dev Clever (DEV), Anglo African Oil & Gas (SCUM), Premier Technical Services Group (PTSG) and Mobile Streams (MOS), where I study what happens to cashflow when a company is near to death and the red flag gaps in today's trading statement.

Subscribe to ShareProphets to access Premium Content

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

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

MRS
MRS
PREMIUM CONTENT

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

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

Subscribe to ShareProphets to access Premium Content
WSG
WSG

Westminster Group led by disgraced former Tory MP Tony Baldry: discount placing ten days after mega ramp

The behaviour of Westminster Group (WSG) chaired by disgraced ex Tory MP , Sir Tony Baldry of 3DM fraud infamy, displays everything that is worst about the AIM Cesspit. Today we have a £500,000 placing via newly appointed joint broker the low -life team at SVS. But just ten day ago it was all so different.

MNO
MNO
PREMIUM CONTENT

Maestrano – another disaster IPO on the AIM casino warns again

Floated on the AIM Cesspit in May 2018 at 15p a share and raising £6 million Maestrano (MNO) describes itself as a “cloud business integration platform with cross-app data synchronization” I’d describe it as an univestable piece of shit.

Subscribe to ShareProphets to access Premium Content

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

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

Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: Luke Johnson's Cake and the (is it £20m) fraud, a few thoughts

In today's bearcast I start with a look at Patisserie Holdings (CAKE) run by my pal Luke Johnson and I discuss the nature of fraud. I look at Sosandar (SOS) again and get really very angry (warning bad language alert), at FastJet (FJET), Telford Homes (TEF) and the folly of Government policy, Online Blockchain (OBC), and at Urals Energy (UEN) and the folly of the AIM Cesspit.

Subscribe to ShareProphets to access Premium Content
Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: Frontera, Andalas, Justin the fecking Clown, AIM really is a cesspit and I'm not sure I care anymore

Heck: maybe it is time to give up this game and become a goat-herd here in Greece after all. I despair at today's AIM Cesspit antics involving market abuser Justin the Clown and his employers at Vox markets who appear not to care, Andalas (ADL) and Frontera (FRR) as they all mislead investors who appear happy to be duped and to lose money as the bandits prosper.

Subscribe to ShareProphets to access Premium Content

Strat Aero – a tacit admission that it will be out of cash within months

AIM Cesspit poster boy Strat Aero (AERO) has today announced that it has upped its stake in Gyrometric Systems Limited from 36.9% to 57.7% by issuing £273,000 “worth” of worthless pieces of confetti ( 23.8 million shares). Whoopie do.

Crime-Scene

Which two AIM Companies have been fined and given (pointless) private censures for breaking the rules?

As well as the public censure and fine announced yesterday for MBL Group (MUBL) two AIM Cesspit companies were fined and given private censures by the clowns at AIM regulation. But who are the naughty boys who misled investors and market and what does waste of space AIM Regulation boss Nilam Statham hope to achieve by this?

FLX
FLX

Falanx – and the CEO resignation that was clearly not...

I have already covered results from Falanx (FLX) in bearcast but there is one matter than niggles me in the annual report – the “resignation” as a director of CEO  Stuart Bladen. Let me explain…

Bearcast

Tom Winnifrith Bearcast Special - Magnolia's Rita you make me want to vomit

Another one off - this time recorded with my three legged cat Oakley. I am so angry. I touch on MySquar (MYSQ) and what it says about the AIM Casino as a follow up to today's pieces HERE and HERE. But the main focus is on events at Magnolia Petroleum. I give chapter and verse on why CEO Rita should have been fired and what it says about the AIM cesspit that she was not. I discuss today's deal which saves her and expaian why it will not save Magnolia (MAGP). I give your hard data on its impact on cashflows and on the balance sheet. This POS is toast but Rita and her Nomad make me want to barf.

Terpenetech & the Eden Research fraud, fraud, fraud: Part 2

Yesterday we saw demonstrable and explicit evidence that AIM Cesspit fraud Eden Research (EDEN) had committed a panama pump stock fraud with its 29.9% owned associate Terpenetech, HERE. But it seems that I was too charitable in my assessment of Terpenetech's laughable accounts. A hat tip to reader CS who points out:

Fitbug placing - how the spivs of the AIM Cesspit operate

Today AIM listed serial disaster story and cash guzzler Fitbug (FITB) has announced that it has raised £1 million at 0.2p. The shares have crashed to 0.19-0.2p on the news ( a fall of 26%) but if one looks at the trades you see the sordid underbelly of the AIM Cesspit in full play.

GAH
GAH

Is there a Nomad out there who cares only about money - Gable needs your help badly now!

On 16 September, AIM Cesspit posterboy Gable (GAH) run by William "Piggy" Dewsall, made the following announcement:

CIN
CIN

City of London - now just 1 rat left on sinking ship: the company is now breaking the law - bankruptcy looms

AIM Cesspit listed City of London (CIN) is surely a sinking ship. If Nomad Peel Hunt had a shred of integrity it would surely quit now on news that a third director has quit in six days leaving just one rat on board - chairman Paul Milner. The shares are off by 24% today to 3p but fair value ahead of suspension, administration or both is surely 0p. The Company is now in Breach of the Companies Act 2006, S154(2)which requires a public company to have at least two directors. Do hapless Nomad Peel Hunt or the oxymorons at AIM Regulation care about companies breaking the law? It appears not.

Bearcast

Tom Winnifrith Bonus Bearcast: No-one is watching O'Clock Results from Servision - it is bust

I warn you that this podcast uses bad language as I am unspeakably angry about the numbers from AIM cesspit posterboy Servision (SEV). In so many ways its results, which were issued at no-one is watching O'clock yesterday, are a disgrace. At least it is prepared to admit to some of the financial crimes against humanity which I have accused it of. But it is clearly bust and I comment on its numbers, on what the directors and auditors say, on its partial admission of guilt and on the reprehensible behaviour of Jon Bellis and his colleagues at Belfort Securities around the time of the (grossly misleading) interims of 30 September. The target price is 0p as this company is almost bust and truly is a piece of Turkish.

No Gold to be found in this Port – just a stench

I covered proposals by the board of fully-listed Goldenport Holdings (GPRT) to dispose of its remaining fleet of container ships last weekend with an unequivocal “sell” stance, having previously given the company a wide berth (by more than the length of your average bargepole). The shares duly collapsed by more than 50% last week but I  think that they are worthless and so still a sell at any price. But I have grave misgivings about how this whole thing has been handled by the company.

PTV
PTV

Peer TV - farce & fraud - this one is toast, call in the Old Bill TODAY

Just when you thought PeerTV (PTV) could sink no lower in the AIM Cesspit it comes up with another shocker. The company is clearly insolvent, it has today admitted to lying to investors which is fraud as it issued shares after that lie and its Nomad ZAI Corporate Finance has formally walked. No-one else will act for it so after one month of suspension its shares will be booted off the AIM Casino. The next point of call will be the administrators and hopefully the rozzers as well.

DAN
DAN

Daniel Stewart - bond funding, placing "shortly" (again)

AIM-cesspit poster-boy Daniel Stewart Securities plc (DAN) has announced the raising of £650,000 from the issued of convertible and non-redeemable bonds. It then goes on to say that a total of £630,000 has been received. So it has raised £630,000 so far, not £650,000. Perhpas that is splitting hairs. But we are also told that the company continues to work on the finalisation of a placing....which it expects to announce shortly. Ah, that word "shortly" again. I'll come back tomorrow to see Mr Godot. Tom Winnifrith continues to work on the finalisation of an approach to Cheryl Cole. Well, maybe it is on the way after all.

UTN
UTN

ShareProphets RNS Translation Service: Ultima Networks – Placing, Disposal, Restructuring

As predicted HERE in the wake of after-hours interims from the company on Wednesday, shareholders in AIM cesspit dog Ultima Networks (UTN) plc are to be treated to a placing. Gotcha. In fact it is rather more than that, as an RNS issued yesterday (mercifully, at the usual 7am) details proposals to be put to an EGM under which the business is to be disposed of into a private company and the plc restructured into an investing company – the last refuge for failed sub-scale ventures on the Casino. With the shares having closed at 0.25p on Thursday a placing at 0.7p seems somewhat generous, does it not? But then, as we all know, if it looks too good to be true…..step forward the ShareProphets RNS Translation Service to help our understanding of what is going on.

Mosman Oil & Gas: who gives a damn so long as the City gets paid?

This morning, Mosman Oil & Gas (MSMN) announced yet another deeply discounted placement. If this caught you out, you probably have no one but yourself to blame, as this was always going to happen. Mosman is a dire business, run by consummate stock promoters, who seem to have have serious difficulty in making full disclosures to the market (HERE and HERE). Despite all this, Mosman’s share price surged from just under 3p to an intraday high of 9.4p within the last month. Today it placed at 4.5p. Does any of this matter so long as some are making money?

GSR
GSR

Golden Saint Resources – after-hours Interims. What a total POS.

Words fail to convey the contempt with which I read yesterday's after-hours interims statement issued by AIM Cesspit poster boy Golden Saint Resources (GSR) - a company that is almost certainly insolvent, numbers don't lie. It almost matches the contempt with which the management of this POS treats its own shareholders.

Mosman Oil & Gas; same old disclosure problems

After last year’s highly selective reporting of its New Zealand oil “discoveries” (which didn’t turn out to be commercial), the board of Mosman Oil & Gas (MSMN) is back up to its old tricks. If you don’t read today’s RNS carefully enough, you’d be forgiven for thinking that the STEP Royalty is a cracking bit of business. The market has clearly fallen for the spin, with Mosman’s share price up 21% at 7.875p, last seen. Once again sentiment traders have blindly piled into a stock, which stands little to no chance of ever delivering shareholders a fundamental return. Here’s why.

DAN
DAN

Daniel Stewart – Can the Audited Accounts be relied upon?

The FY14 Accounts of AIM Cesspit posterboy Daniel Stewart Securities plc (DAN) and its main trading subsidiary Daniel Stewart & Company plc (DSC) look to be in real trouble. One wonders how new Auditor PWC passed them, given anomalies already highlighted HERE. But it gets worse. With thanks to an avid reader – let’s call him David – there are yet more questions to ask as a result of a devastating analysis. I have added a few comments [in bold] but I leave the rest to ‘David’. He writes…..

Beggar

The 2015 AIM Awards – shortlist announced: guess what?

You could not make this shit up. The Crony Capitalists black tie celebration of mugging private investors are the Annual AIM awards and the “celebration” of this fleecing is a black tie dinner on October 8 and now we know the short lists of “winners”.

Eden Research – this stinks more and more – answer basic frigging questions you tossers

On Monday I stated that an RNS from AIM Cesspit listed Eden Research stank to high heaven. A quite bizarre exchange of emails has followed as more has emerged about that pongy deal with Eden just refusing to answer basic questions.

GSR
GSR

Fat cats Golden Saint Resources treat shareholders with contempt

Golden Saint Resources (GSR) has been a dreadful stock on AIM and now I know why. The entire squad behind it could not give a damn about the company’s investors. From the its “PR agency” Cassiopeia Services, through its “Nomad” Beaumont Cornish (what a shock this firm is involved) to the company’s executives this “dream team” has to be one of the worst in the market. There is currently a sophisticated attack being made against Golden Saint, of which it is fully aware and cannot be bothered to deal with it. This is an appalling story of arrogance and laziness.

Mosman Oil & Gas – the dead horse flogging becomes desperate

It’s no secret that by early 2010 I had failed at what I was doing. Miserably. Facing up to that realisation was incredibly tough. A hair’s breadth from bankruptcy, the following couple of years were a surprisingly liberating experience. There is nothing like a period of enforced penury to help one reassess what matters in life and redefine one’s course. At some point, in the not too distant future, the directors of Mosman Oil & Gas (MSMN) are likely going to share this experience, as they finally come to terms with the fact their business has no serious future on AIM.

XPL
XPL

Red Flags at Night – Xplorer plc FY Results: horrific!

Xplorer (XPL) came in for a grizzly Bearcast savaging from Tom Winnifrith back on 1 Dec 2014 (HERE) following its Friday after-hours at no-one-is-watching o’clock interims statement. Last week saw this LSE Standard Listing company repeat the trick with its full year results to the end of March 2015 statement, released at 6pm when everyone had gone home for the weekend, or possibly for a few days’ summer holiday on Marbs with Jon Stretton-Knowles. If the Interims were a shocker, this statement was so much worse - it is hard to know where to start. 

UKR
UKR

Ukrproduct – 30% drop on no news?

Shares in AIM-Cesspit listed Ukrproduct Group (UKR) dropped a whopping 30% during trading on Tuesday. What calamitous news had there been to cause the drop? Er….none. So why the drop?

DAN
DAN

Daniel Stewart – Have the books spent too long in the kitchen?

Daniel Stewart & Company plc is the main subsidiary of AIM-cesspit listed Daniel Stewart Securities plc (DAN). I’ve been reviewing some, ahem, ‘interesting’ anomalies in the Companies House filings for the former. Shares have gone missing, or did they materialise out of thin air? And what about an issue of over £120million worth of stock to the parent, for cash? I kid you not! It is a dog’s breakfast, but one thing is clear: there will have to be resubmissions to Companies House and, I fancy, some corrective RNSs to clarify what exactly has been going on. With apologies for a technical article….

DAN
DAN

Daniel Stewart – More Companies House revelations as Red Flags abound

Having posed a few questions (HERE) about AIM-Cesspit poster boy Daniel Stewart Securities plc (DAN) and its unlisted plc subsidiary Daniel Stewart & Company plc, I’ve had something else pointed out by an avid reader. I wondered how it was that the parent company had managed to produce audited FY Mar14 results (albeit months after the deadline, which saw the shares suspended) when the subsidiary accounting for the vast majority of revenues had not. Given that the two share the same financial year, this seems all rather odd. And given that the parent was audited by PWC, how on earth has PWC been able to verify what is reported with reference to the contribution to group revenues (ie almost all of it) without itself auditing the subsidiary accounts?

AIM_20

AIM’s shocking mortality rate - the casino death rate is alarming

For “the world’s most successful growth market” the mortality rate of companies that list on AIM is shocking. Since the start of 2001, an estimated 1,937 companies have delisted from AIM, seeing shareholders in most cases lose everything. Whether taken private or simply bankrupted, it is a terrible indictment of this market that c.54% of all the businesses that have floated on it in the past 14 years have just disappeared. Curiously, Grant Thornton chose not to mention this when it compiled its report to celebrate AIM’s 20th Birthday.

DAN
DAN

Daniel Stewart – questions over Companies House filings

This new free service from Companies House is great: not only does it cost nothing to use, it is just so much faster – see for yourself HERE. And that brings me to Daniel Stewart (DAN), where a couple of things caught my eye.

Red Flags at (nearly) Night: Etaireia Investments – who’s been telling Porkies, then?

At the very death of Friday trading (4.29pm to be precise) ISDX-listed Etaireia Investments plc (ETIP) made the following announcement: 

Cesspit poster boy Mosman Oil & Gas - £400,000 more to fritter away

I love Mosman Oil & Gas (MSMN). I really do. Taking a step back from the daily outrages on AIM and Mosman has to be one of the funniest stocks around. That is, unless you are a shareholder. After the controversy of last year’s oil “discoveries” that weren’t commercial, Mosman’s board has been on a bizarre trip of nonsensical deal making. Whatever is being slipped into the directors’ tea every morning is having a marvellous effect. I am not sure how I would best characterise their behaviour, but someone less kind than I might call them utterly bonkers.

NEW
NEW

New World Oil & Gas; could it pay a shameful £1.15million in fees to Cornhill Capital?

I took a temporary vow of silence last week concerning New World Oil & Gas (NEW). We should learn soon enough whether my faith in the regulatory authorities was misplaced, but there is one issue I am compelled to speak out on; the sickening and unconscionable fees New World has agreed to pay Cornhill Capital in relation to the highly controversial open offer.

PFP
PFP

Red Flags at Night – Pathfinder Minerals

Just a short one – the main batch is expected on Friday evenings, not Thursdays. However, ten minutes after the market close on Thursday a rather strange RNS was released by Pathfinder Minerals (PFP). Pathfinder has done absolutely nothing wrong here (apart from issuing this after-hours) but it is indeed most odd all the same. It seems that 8% of the company is likely to be dumped on the market at some point. Or is it 9%? Whatever….Pathfinder announced a holding in company announcement which states:

SER
SER

Sefton Resources; toxic danger signals all over it again

Just before the close, Sefton Resources (SER) announced that Daniel Levi and market abuser Chris Oil had bought back into the company. This has provoked a furious reaction and it will be very interesting to see how the market responds today. After the first time Mr Levi “saved” Sefton, the company’s share price went up nearly seven times, to an eye-watering 0.39p. Oblivious to the fact that Mr Levi failed to deliver his operational promises and sold a massive chunk of his stock near the unsustainable and over-promoted top, Seftonologists still saw good value in this cash shell with little cash, no assets and an £11.3million market cap. Will this bunch fall for the shenanigans again or will it finally learn its lesson and pay heed to the obvious toxic danger signals now slapped all over this stock?

NEW
NEW

Why is New World’s board so determined to save the naked shorts?

Thursday’s announcement from New World Oil & Gas (NEW) made one thing crystal clear. New World’s board is determined to do whatever it can to let the naked shorts off the hook.

RRL
RRL

Range Resources – back from the dead?

This morning, Range Resources (RRL) returned from its self-imposed six-month suspension. As of writing, the stock is up 70.7% at 0.96p. After the issue of 650million shares to Sibo, for the £5.2million lifeline announced last week, Range will have 5.77billion shares. This values the company at an eye watering £53million and leaves only one question. Has the market lost its mind?

SER
SER

Some Sympathy for Sefton

Now my interest has been reignited in the Sefton Resources (SER) story, I’ve been pursuing various investigative leads and have uncovered something pretty surprising. It look very much like Chief Financial Officer Raylene Whitford is a genuinely decent person, who is doing her level best to save this company. Unlike certain previous executives, Miss Whitford is not a serial market abuser, intent solely on lining her pockets at the expense of Sefton’s shareholders.

SER
SER

How many current shareholders of Sefton Resources were invited to Annabel’s, Mayfair?

As reality slowly dawns on anyone foolish enough to have bought into the recent rampant over-promotion of Sefton Resources (SER) and the stock price craters, shareholders can take comfort from tonight’s lavish extravaganza being hosted at one of London’s most expensive venues. Well, at least some of them can.

SER
SER

Sefton Resources; worse than it’s ever been?

Back in the good old days, when our dear friend Jim Ellerton was hocking his wares around the busy streets of London, shareholders in Sefton Resources (SER) were at least able to delude themselves with pipedreams of Kansan gas riches and a Californian heavy oil rush. As we all know, those promises of future wealth were a fantasy, deliberately designed to fund Ellerton’s lavish Hawaiian existence and taste for expensive hotels. Sefton was the ultimate lifestyle company, but what of today’s myths about this cashless cash shell?

NEW
NEW

New World Oil & Gas; the London Stock Exchange sails into uncharted waters

Since arriving in Jersey yesterday morning, it is clear that whatever happens at New World Oil & Gas’ (NEW) EGM today the aftershocks of this fiasco will continue to be felt for quite sometime. New World has 702million shares in issue, yet in the twelve trading sessions after the company announced its unconfirmed placement somewhere between 6.5billion to 9.5billion shares exchanged hands. So far the authorities have largely washed their hands of this mess, but sooner or later it is going to dawn on them that they cannot ignore it indefinitely. Heads have to roll.

RUR
RUR

Rurelec plc – Red Flags at Night, Shareholders’ fright

It is always worth a gander through the after-hours RNSs to see what is being slipped out when no-one is looking. It is a common way for companies – especially those on the AIM Cesspit – to try to hide bad news from their shareholders. It simply doesn’t work, so why they bother is beyond me. But it is an immediate Red Flag. And that brings me to Rurelec plc (RUR). On Tuesday at 4.30pm – bang on market closing time - it released an RNS entitled ‘Extension of Radix Facility Agreement’. Gosh what an exciting life I lead: I just had to take a look…

Anarchy

New rules are needed on forward selling of placings

The forward selling of placing shares has been a pet hate of mine for a long time, and I think it is time that the FCA and London Stock Exchange did something to change the rules. The recent situation with New World Oil (NEW) has been an eye-opener for many private investors – judging by the chatter on Twitter and the bulletin boards – and many seem genuinely amazed that this practice is even legal and seems to be the norm!

RRL
RRL

Range Resources - Enough is enough

Last October, Peter Landau’s disastrous Continental Coal (COOL) announced the cancellation of its admission to AIM, after its shares had been suspended for six months. On April 28th, Range Resources (RRL) announced (to the shock of everyone, I am sure) that Core Capital Management would not be able to complete its $60million funding package, by the end of that month. Range granted Core an extension until today. We’ve just been told that Core has failed to meet that deadline and the funding deal is off.  Worse still, Range has been suspended for just over five months, meaning it is one month away from an automatic delisting.

Anarchy

Boycott this website if you support market abuse – a statement by Ben Turney & Tom Winnifrith

The share blogger of the year Brokerman Dan is calling on investors to boycott this website because we accused him of over-promoting Sefton before dumping most of his shares (five days after tweeting    It's back to the rumour mill on #SER for me chaps! Am I selling? Not on your life. Tick! Tock! Goes the Stryker clock!) and for pointing out that his pal Chris Oil committed blatant market abuse before dumping ALL his Sefton stock.  Whatever.  IF YOU SUPPORT MARKET ABUSE PLEASE BOYCOTT THIS SITE AND BLOCK BOTH OF US ON TWITTER. However Dan makes a few other points.

NEW
NEW

Will Beaumont Cornish lose its Nomad license over the raging New World Oil & Gas scandal?

In his bearcast earlier, Tom Winnifrith suggested that Beaumont Cornish should lose its Nomad licence for its appalling efforts this week, in overseeing RNS announcements from New World Oil & Gas (NEW). While I disagree wholeheartedly with Tom’s suggestion how the epic mess at New World might be resolved (cancelling trades would only leave the London Stock Exchange open to a massive class action lawsuit from and all those who bought New World stock), I agree entirely with Tom’s conclusion about Beaumont Cornish. Beaumont Cornish should have been investigated long ago for its conduct over New World, but this week’s succession of catastrophic errors leaves it extremely vulnerable. Here’s why.

NEW
NEW

NWOGaction; why I am voting against New World’s placement

As co-founder of NWOGaction (www.nwogaction.co.uk) I intend to vote against New World Oil & Gas’ (NEW) placement at the forthcoming EGM on May 19th. After an extremely intense 72 hours, I have given this a great deal of thought and explain below my rationale.

Horse Hill and the credibility-killing clarification

This morning’s “Clarification of Press Comment” from UK Oil & Gas (UKOG), and the other companies participating in Horse Hill, heaps shame on all involved in last Thursday’s monumental ramp. At ShareProphets, we were the first to criticise the BBC, ITV, Sky News and all the other broadcasters, who leapt so obediently onto this propaganda bandwagon, for their deeply misleading coverage. Hundreds, if not thousands, of private investors bought stocks in the Horse Hill nags, thanks to the appalling laziness of too many journalists. Within 24 hours, most of these ordinary people were facing losses of upwards of 35% on their “investments”. This disgraceful episode illustrates once again why AIM is in such desperate need of comprehensive reform.

The EFH Scandal: ANOTHER company gets involved as the stench spreads to the Main Market of the Laughing Stock Exchange

You might have thought that the Equities First Holdings LLC scandal would burn itself out, but not a bit of it. Step forward Mr Robert Adair, NED of Main Market listed Urban&Civic plc (UANC).

MLD
MLD

Mirland Development Corporation – A Study in Red Flags, Be Warned!

AIM-Cesspit listed Mirland (MLD) issued a trading update after-hours at no-one-is-watching O’clock last Friday, 27 Feb (at 4.42pm). Why not just ‘fess up at the usual time of 7am? Ah, it was a big profit warning and it hoped that it would slip under the radar. That’ll be a Red Flag, then.

AMI
AMI

African Minerals; shareholders lose everything, AIM’s flaws brutally exposed

If ever a case were needed for reform of the Alternative Investment Market then surely the disgraceful downfall of African Minerals (AMI) provides it in spades. Some might argue that the collapse of the iron ore price is behind the total destruction of over £2billion’s worth of shareholder value, but the reality is this merely provided the backdrop as I now reveal.

AMI
AMI

African Minerals was torpedoed by Frank Timis; Nomad & board complicit

On November 3rd last year the Executive Chairman of African Minerals (AMI), Frank Timis, torpedoed his company’s critical strategic relationship with Shandong Iron and Steel Group (SISG). Mr Timis swooped in to devour the carcass of London Mining (LOND) and took personal ownership of the Marampa iron ore mine, Sierra Leone. African Minerals’ board “formally allowed” Mr Timis to proceed with this staggering act of reckless corporate greed, while the company’s discredited Nomad, Jefferies International, didn’t so much as utter a peep. On Friday African Minerals’ shareholders paid a bitter price for this abysmal regulatory oversight and devastating failure in corporate governance.

AMI
AMI

Exclusive: African Minerals; another shameful failure by Jefferies International

How much longer will the London Stock Exchange permit discredited Nomad Jefferies International to cover up the scandalous behaviour of its clients? After enabling IGas Energy’s (IGAS) lying CEO Andrew Austin to disguise his deeply discounted £7,000,000 share sale, it now looks like Jefferies has failed even more catastrophically in its duties to shareholders of African Minerals (AMI).

FML
FML

Frontier Mining – Now FCA involved too

I have now reported the price action in the shares of AIM Cesspit listed Frontier Mining (FML) to the FCA last Tuesday as well. As referred to HERE there really needs to be an investigation into what went on that day, as the shares crashed 28% during the day, AHEAD of an after-hours RNS that the company planned to delist.

FML
FML

Frontier Mining – AIM Regulation asked to investigate 28% share price slump ahead of the delisting RNS

As revealed HEREAIM Cesspit listed (pro tem) Frontier Mining (FML) slipped out a devastating after-hours RNS on Tuesday detailing plans to delist and take the company private. To compound that contemptuous treatment of its shareholders, the shares dropped a whopping 28% ahead of that RNS

FML
FML

Frontier Mining – After hours RNS, proposed DELISTING, down 28% ahead of RNS

At 5.43pm (no-one-is-watching o’clock) AIM Cesspit listed Frontier Mining (FML) issued this RNS proposing the final shafting of its shareholders. Not only will Frontier delist from AIM, but also from the Kazakh Stock Exchange. Anyone unfortunate enough still to hold this turgid stock will be trapped and their investments essentially become worthless. But at least some fortunate City fellows got out in time! Yes, Frontier plummeted 28% during Tuesday’s session, prior to the announcement. Surely it could not be possible that word got out ahead of the RNS, could it….

Tern – Oh Dear, Hargreave Hale selling again! And how about some slight of hand in the accounts?

As predicted HERE , Hargreave Hale (HH) has been selling more of its holding of shares in AIM Cesspit listed Tern plc (TERN). Obviously it was impressed by what it read in Tern’s Annual Report and Accounts for calendar 2014. Not!

SER
SER

Sefton Resources; vote yes and Ellerton will keep his pension

So this is it for the Jim Ellerton Benevolent Fund (SER). After one of the most inevitable and agonising deaths in AIM’s history, at 4pm on Friday, Sefton’s directors finally admitted the game is basically up. The proposed “refinancing” will simply prolong shareholders’ agony for a few more months. The sale of Tapia will deny Sefton its only revenue stream and only the most fanatical Seftonologists believe that the company’s Kansas “assets” can be its saviour. Not ones for reading the fine print of RNSs, this hapless bunch has also missed one important little detail. A vote in favour of the revised Hawker deal will see Ellerton keep his pension.

Tom Winnifrith Bearcast 17 January - Pressfit, Paul Shackleton, WH Ireland, Daniel Stewart, an AIM casino scandal special

Pressfit (PFIT) listed on the AIM Casino on August 1 2014. Its first profits warning came within three months. It was booted off the AIM Cesspit yesterday. It is Chinese. I name those responsible for this scandal - firms and individuals - and suggest that all concerned need steep fines and an immediate termination of their City careers and explain why.

Listen to the Bearcast:

REVEALED!! The Loophole That AIM-Cesspit Clients of Equities First Exploit

One year ago, IGas Energy CEO Andrew Austin deceived his shareholders. He issued an RNS claiming to have bought 300,000 of his company’s shares, when in fact he had net sold 7,200,000. After weeks of painstaking research, and on the anniversary of this shameful episode, ShareProphets can exclusively reveal the loophole the like of Mr Austin have sought to exploit to get around the Disclosure and Transparency Rules (DTR) through their dodgy deals with Equities First Holdings LLC (EFH). The explanation is complicated, but the results are both shocking and appalling. Through EFH directors can sell stock and not declare it. The FCA must close this loophole now.

RRL
RRL

Range Resources; Is David Chen just Pete Landau II?

Scratch away at the surface of New Old Range Resources (RRL) and it is obvious nothing material has changed since Peter Landau left the company in disgrace. The same cabal of business associates appear as intent as ever on bleeding the company dry. At the head of this group, at least as far as Range is concerned, now stands new non-executive Chairman, David Chen. Mr Chen has no operational oil and gas experience. However, he was paid 42,742,654 unlisted 1p options as an “advisor” in the murky Abraham investment. It certainly pays well to be an associate of Mr Landau’s, less well if you are misfortunate enough to be one of his shareholders…

Tern – Lessons From History: Will it Really Be different This Time?

I am drawn to some parallels between the stories of Rob Terry’s  vehicles The Innovation Group (TIG) and Quindell (where he is apparently no longer running the show, so we are told…) and Angus Forrest’s exploits with Digital Learning Marketplace plc (DLM)  and Tern, his current AIM Cesspit outfit.

RRL
RRL

New Old Range Resources; did Peter Landau ever truly let go of the reins?

New Old Range Resources (RRL) just gets better and better. With each announcement it releases, there is less and less hope for the company’s long suffering shareholders. It looks more and more like the old guard at Range never really went away. The only question that remains after today’s latest, appalling RNS is why this wretched company doesn’t just drop the pretence and officially welcome back Peter Landau into the fold?

Lloyds Banking Group – The Dark side of the Black Horse

Shareprophets has been at the forefront of exposing the AIM cesspit and crony capitalism, but I'm afraid there is another scandal about to break at one of the UK's largest banks, owned in part by the tax payer. If you thought that the reputation of bankers couldn't get much lower, read on. They have clearly learned nothing about the way that we expect them to behave and, despite being involved in scandal after scandal, they still don't seem to be able to determine right from wrong.

EXCLUSIVE: Tern – A $75 million Valuation of Cryptosoft? NOOOOOOO! It is $75,000!

I am horrified! Take careful note, anyone invested in Angus Forrest’s Tern plc (TERN) You see, reading through the bulletin boards for Tern on ADVFN and elsewhere, much ado has been made of an apparent valuation by an American outfit called Signal Hill, which published its “Q3 2014 Security & Risk Market Snapshot” pre Christmas. In that document, Cryptosoft was described as having an Enterprise Value of $75 million. Did that make Tern the most massively undervalued stock in history? No!!

Tern – Issues of Share Issues: Happy New Year Mr Angus Forrest (Chairman)

Readers may remember my articles last year which raised serious issues over the insolvency of Digital Learning Marketplace plc (DLM) in 2012. Since DLM collapsed its former chairman, Mr Angus Forrest, has moved on to a company called Tern (TERN) plc, where he was elected to the board on a prospectus which claimed that DLM had been sold. It was not: it was insolvent, and was restructured to a cash shell and put through a CVA before returning to the AIM Cesspit where it remains today, now under the name of Alpha Returns Group plc (ARGP). I’ve been looking at some recent share issues by Tern.

RRL
RRL

Range Resources; the asset stripping accelerates

The merciless asset stripping of Range Resources (RRL) accelerated yesterday. Under the cover of a smokescreen letter to the Range Investor Group and the extremely vague forecast that 3,000bopd is possible at the company’s Beach Marcelle waterflood project, LandOcean has grabbed itself Range’s drilling services subsidiary for next to nothing. This doesn’t bode well and I am now more convinced that it is curtains for Range’s long-suffering shareholders unless they can get themselves organised and gain direct representation on the Range board of directors.

IGas Energy; the “loan” that shames AIM

Even by the shocking standards of disclosure on AIM, January 16th’s RNS from IGas Energy (IGAS) takes some beating. Titled “Director Share Purchase and Finance Facility” this has to be one of the most shameful announcements released in recent years.

IGas; CEO Andrew Austin betrayed his shareholders and has to go

The behaviour of IGas Energy (IGAS) CEO Andrew Austin is appalling. Director share sales will always cause disquiet among shareholders. However, dumping nearly three quarters of one’s holding and attempting to disguise this as a share purchase is a treacherous and rapacious act. This cannot be an acceptable standard of behaviour for the director of a publicly listed company. Mr Austin has to go.

RRL
RRL

Range Resources – The final shafting of its British shareholders?

Shareholders in Range Resources (RRL) have less than three months to save their investments. If it wasn’t clear already, Friday’s announcement was little more than a low-ball takeover offer. Dressed up as a $110million pair of funding packages, in fact all the company’s Chinese suitors did was drop the pretence of the last six months.

Sheriff-Of-AIM

BearCast: Tom Winnifrith Brings AIM Into Disrepute er no..Agenda for Reform

I was accused by some moron yesterday of bringing AIM into disrepute. Au contraire I merely shine a light on the stinking cesspit it has become. In this podcast I explain some of AIM's dirty secrets, another fraud committed by an AIM Company (guess which one) and set out an agenda for easy reform

Listen to the Bearcast:

IGAS, Jefferies (Nomad), Andrew Austin (CEO), Board of Directors: SHAME ON YOU! You should all go now.

I read with utter horror Wednesday’s RNS regarding Mr Austin’s Equities First Holdings LLC (EFH) ‘loan’ deal which, ahem, clarified that the previous clarification that the original RNS was all correct was in fact (cough, splutter) unclear. It was wrong. It was misleading. What a total shambles! How any CEO could survive this - and what follows - is beyond me. Gallows at the ready, then.

Outrageous IGas RNS obliterates Andrew Austin’s credibility & career

How stupid does the board of IGas Energy (IGAS) think its shareholders are? This is an interesting question to reflect on this afternoon, after the company released this morning’s disgraceful RNS in pitiful defence of CEO Andrew Austin’s “Sale & Repurchase” agreement with Equities First Holdings LLC. Despite all the evidence to the contrary, IGAS is still desperately trying to portray this arrangement as a bona fide loan. This is madness. It is lying to its shareholders and the statement - coming after fairly dismal interims earlier - is a disgrace. Austin should be sacked at once.

Tom Winnifrith Bearcast Special - Maple Energy: EFH type share deals, bankruptcy looms & 7 questions for Cenkos

Hat tip to the Deputy Sheriff of AIM for spotting the strange events at Maple Energy (MPLE) a true AIM Cesspit posterboy whose hapless Nomad is - as it happens - Cenkos, the tossers who represent Quindell. Share transactions undertaken by former CEO Tony Hines have a strange Equites First Holdings LLC look to them although they may not be with EFH. In this podcast I look at the nature of those transactions, the reasons why Hines quit and the financial trainwreck that Maple is today. Maple has the smell of death about it. I therefore have seven questions for the poltroons round at Cenkos.

Listen to the Bearcast:
QPP
QPP

Open letter to AIM Regulation; add your voice to the calls for an investigation into Quindell

According to the Daily Telegraph, the London Stock Exchange has begun an investigation into Monday’s share price fall of Quindell (QPP). Specifically, the Telegraph believes that the LSE, and by extension AIM regulation, is going to examine whether or not the company withheld price sensitive information, when broker Cannacord Genuity submitted its notice of resignation on October 21st. Given the market reaction to this news on Monday, when Quindell finally bothered let its shareholders know this slightly important little titbit of information, it is probably fairly safe to assume that Cannacord’s notice of resignation was price sensitive.

QPP
QPP

THAT Cenkos note suicide bombs AIM's flawed Nomad system

On Friday November 7th Cenkos issued the above broker note to justify Robert Terry, Laurence Moorse and Steve Scott’s share disposal to Equities First Holdings. Littered with glaring errors, this “clarification” is such monumental drivel that even the arch apologists over at QPPSAG have quietly removed reference of it from their homepage (though you forgot to delete the promotional Tweet chaps!). I note that Cenkos analyst Andy Bryant has apparently today "left the building." Nothing to do with Quenron, natch.

QPP
QPP

Open letter to the FCA; investigate Rob Terry, Steve Scott and Laurence Moorse for market abuse

I’d love to believe that this morning’s statement from the disastrous, discredited and detestable Rob Terry is the last we will hear from this awful man in an RNS. Sadly I fear it won’t be, unless the authorities launch an immediate investigation into Quindell (QPP). Prior to listing Quindell, Terry’s record at the Innovation Group was there for all to see and red flag warning signs were waving long before Tom embarked on his valiant campaign. Once again, the “world’s most successful growth market” has fallen woefully short in offering British private investors any sort of genuine protection. The brokers, Nomad, PR firms and corporate advisors have all been paid handsomely, while thousands of ordinary people have watched their life savings evaporate. This cannot be acceptable. There are dozens of reasons why the FCA and AIM Regulation should investigate Quindell, but let’s begin with a first complaint of market abuse to the FCA. 

QPP
QPP

Brazen Rob Terry pockets ill-gotten EFH funds and continues to squeeze Quindell indefinitely

He could have just left. He should have just left. But no, Rob Terry had to have the final word. He had to wring every last drop of blood from the Quindell (QPP) stone. He couldn’t resist that final “f*** you” of a fake farewell to his shareholders, people whose trust he abused and savings obliterated. And what a “f*** you” it was!

Optimal Payments, Canaccord and the LSE this will not do – lets discuss the market abuse

Yesterday I wondered aloud whether Optimal Payments (OPAY) was going to be the sixth company in the EFH scandal. I was right on the money. The shares fell pretty much through the day, dropping 22% at the close – yet there was no news. All day long. Then after the market had closed, at twenty-one minutes past five GMT on Friday evening  (no-one is watching o’clock, local time) out came this statement:

Optimal payments- is this the sixth company in the Equities First Scandal?

With a very big hat tip to ‘ROB’ who posted a comment on my article “Equities First and a cancer at the heart of the AIM Cesspit” I bring you Optimal Payments (OPAY) which is, according to ADVFN, a £668 million enterprise trading on the AIM Cesspit. I have to say that I have not the slightest clue what this company does, but that is not the point.

Hookers

Tom Winnifrith's BearCast 4th November lies, greed and incompetence on the AIM Cesspit with Touchstone Gold

I really do not care about the POS company that is Touchstone Gold. It is typical of the detritus at the bottom of the AIM Cesspit. But its RNS today is a shocker - it is grotesquely misleading. Behind it lies a tale of management incompetence and greedy and venal crony capitalists on the AIM Casino who care about nothing other than lining their own pockets and funding the coke and hookers. Shareholders are just there to be screwed. All of the guilty parties are named and shamed and the lies exposed in this scorching podcast. Yes. I am angry.

Listen to the Bearcast:
Crime-Scene

ShareProphets Exclusive: Bucket shop market abusers find new way to steal from private investors

Private investors on AIM are used to watching millions wiped off the value of their investments by the illegal forward selling of placements, followed by gratuitous discounts forced by brokers. Not content with the scale of their illegitimate profits, it now looks like the market abusers have struck upon a new method of stealing from shareholders. It’s come to our attention that certain bucket shops are demanding a sizeable percentage of brokers’ fees for participation in placements. Sadly, we have been made aware of at least one broker, which is playing along with this outrage. This helps explain the mystery of the increasing number of stocks we’ve watched trade below placement prices, immediately after the completion of fundraisings. Even by the abysmal standards of AIM’s cesspit, this revelation is a new low.

SER
SER

EXCLUSIVE: The Comeback Kid of the Decade – liar and crook Jim Ellerton to be the next Chairman of Sefton Resources?

You could not make this up. Disgraced liar and crook Jim Ellerton may well be reinstated as the next Chairman of Sefton Resources (SER) in January. This take from the AIM Cesspit gets worse and worse.

Sheriff-Of-AIM

The AIM Casino is a Cesspit Cesspit of Crooks and Crony Capitalists and is dying – I’m off to meet real snakes before I vomit

Yesterday evening I was doing a bit of frigana chopping at the Greek Hovel and I heard a rustling in the bush I was approaching. I know enough by now to realise what was making the noise and beat a hasty retreat. But the stench of corruption on AIM tells me where the real snakes operate. It is a cesspit for crooks and crony capitalists who systematically transfer wealth from the many (mug investors) to the few (themselves). I have had enough of this for one day and am heading back to the fields to face real snakes. They are less loathsome. There is a solution but the London Stock Exchange does nothing. It is guilty of abetting financial crime by its inaction.

NBU
NBU

Daniel Stewart, Abchurch, AIM Regulation are you ready - Its a Gotcha on Naibu at 7 AM

I hope that Daniel Stewart and upper class twit PR buffoons Abchurch Communications have enjoyed spending the vast fees they have earned in assisting China fraud Naibu (NBU) to list on the AIM Cesspit. And I hope AIM Regulation are ready because at 7 AM the Sheriff of AIM will be breaking news which MUST result in a share suspension if the Casino is to retain any credibility. It is Gotcha time for these bad guys and then we can start moving onto Camkids (CAMK) and China Chaintek (CTEK). Oh.....

SER
SER

Sefton Resources; Dr Michael Green gets his last 52,000 pounds worth of flesh

Dr Michael Green is a very, very lucky man. For years he stood should to shoulder with Jim Ellerton and spun many a good yarn about the wonderful potential Sefton Resources (SER) had to offer. Ever the “friend” of private investors, Dr Green was always available to take a telephone call. Always. Tantalising quotes from him blossomed across bulletin boards promising “imminent” riches. There was just one small problem. It was all bullshit.

NBU
NBU

Naibu Interims – this stinks to high heaven, shares plunge but target is 0p – this is a Norfolk

Shares in Naibu (NBU), the AIM Cesspit posterboy Chinese company that claims to make sports shoes are off 30% today at 35p. You cannot say that I have not warned you that this is an outright Norfolk and interims today make that clear. The target price is 0p.

AFE
AFE

African Eagle – Is this the end or the beginning of the end: shares suspended

Shares in African Eagle (AFE) were suspended from the AIM Cesspit today because as an “investing company” it has failed in twelve months to…er make an investment. In six months’ time if it has made no investment it will be booted off the casino for good. At the suspension price of 0.28p it is valued at £2.5 million but worth NOTHING. Who said markets were efficient?

Tom

Why Companies are able to lie on AIM – the Failing Nomad System

The way that the AIM Casino is set up is based on one great enormous conflict of interest and that is why companies can and do tell lies to investors – that is the Nomad (Nominated Advisor) system

Tom

In Defence of Tom Winnifrith.

There are times when one has to speak up for those trying to shed light on the cess-pit that is AIM. That time has arrived as I write about Tom Winnifrith.

NOP
NOP

Northern Petroleum and its alarming (and poorly disguised) cash burn

At the year-end Northern Petroleum (NOP) reported its cash in Euros – 26.5 million. Yesterday it boasted of its cash balance in dollars $22 million. I guess someone might have fallen for that sleight of hand – it could have been transparent and used a number of 16.5 million Euro. But transparency and Northern? Enough said.

RHL
RHL

Redhall – another AIM Cesspit zombie: what is the point?

Another day and yet another profits warning from AIM listed specialist engineering group Redhall (RHL). This is a zombie company in that from an investor’s point of view it is just dead money. But it supports an army of crony capitalists, directors and various City parasites.

OUT
OUT

Outsourcery – When’s the rescue bailout? Crony Capitalists at work…

On 27th June, AIM listed Outsourcery (OUT) announced that it was holding a “Capital Markets Day.” Hmmm, this is an £12 million capitalised AIM listed POS with pretensions is it not? The company started with a raft of positive guff but then – if you had not fallen asleep and got to the bottom of the release – found that it was admitting that it was a year behind schedule and needs to raise cash this year to keep going. Now even prostitute researcher Edison is sticking the boot in – what it says and what management says look very different to me. Why would anyone refinance this train wreck?

QPP
QPP

Quindell and ALL the reasons for the failure to make it to the Main Market – FOI Update & questions on share sales despite lockins?

Quindell (QPP) has steadfastly refused to give ALL of the reasons why the UKLA refused to allow it to move off the AIM Cesspit – where it belongs – and onto the main market. It cited one clause of the listing rules as being “particularly” to blame but will just not say what all the reasons were. And so I submitted a Freedom of Information request to the FCA weeks ago. That was acknowledged then in a standard way.

An open Letter to AIM Regulation: Please Investigate Mirabaud Securities, Canaccord and Phorm PLC (again) – was there market abuse?

I am sure that AIM Regulation now know full well who Phorm (PHRM) PLC are. But following my revelation’s earlier today HERE I have asked my good pals to investigate whether Phorm PLC but also Mirabaud Securities (broker) and Canaccord (Nomad) were guilty of market abuse in 2011 and 2012 or of extreme negligence or both or neither.

NOP
NOP

Prostitute Researcher Edison talks bollocks as Northern Petroleum plans a bailout cash call

Northern Petroleum (NOP) is running out of money. A cash call is inevitable and it will happen before Christmas.  Hence prostitute researcher Edison has “reinitiated coverage”. That means Northern has paid it a cheque to write bullshit so that private investors are suckered into buying the stock before institutions buy in at a whopping discount. The Edison note says it all. It is a classic.

BGO
BGO

Bango is your record the most shocking on AIM and when is the cash call?

Does Bango (BGO) deserve some sort of award for its record for not making profits? The company was established in 1999, floated on the AIM Cesspit in 2005 and is still not actually making a profit? To date investors have lapped up its jam tomorrow story of enabling folks to make payments via apps, etc. and circa £25 million has gone to money heaven. But surely as yet another cash call looms this farce cannot pay on forever?

Pants on fire

Oilbarrel – a few questions for the dogs presenting last week (and Mosman Oil & Gas)

In the old days Oilbarrel Conferences used to be graced by the likes of Cairn Energy (CNE) & Tullow Oil (TLW) and were packed out. These days, a combination of serial under-deliverers and promoters looking to ramp ahead of the next funding tend to present. Last week’s line up was so dire that if you are among the handful of attendees we provide this handy crib sheet of questions for dogs Range Resources (RRL), Green Dragon (GDG) and Northern Petroleum (NOP). Oh, and for good measure, we also include Mosman Oil & Gas (MSMN), in a well timed appearance.

SER
SER

How much did Jim Ellerton spend on Sefton’s credit cards? And on what?

Sefton Resources (SER) shouldn’t really deserve the coverage it is getting on this site at the moment. Even if the proposed refinancing happens, this will only mean the company survives on life support, slowly paying down its bills. Shareholders will effectively be wiped out and the Promised Land of Tapia/Kansas riches tomorrow will be a distant dream. What has happened at Sefton should be a catalyst for the reforms that AIM so badly needs. This company has exposed many of the deep and irreconcilable flaws running through this market. Sadly, I don’t believe anyone in authority is really paying attention and the likes of Jim Ellerton will continue to run riot. That is until they run into the Sheriff and his posse, of course. We are paying attention and today I want to return to this little gem in Sefton’s latest accounts – “included within trade payables above are amounts owed on credit cards in Mr J. Ellerton’s name which are Group liabilities, and not included within the related party balance above.”

Strategic Natural – CEO quits as predicted, but is this enough?

A week ago, I wrote that Strategic Natural Resources’ (SNRP) CEO Alex MacDonald’s position was untenable, after the company issued this RNS in an attempt to clear the air after Allenby’s sudden resignation as Nomad. 

CAP
CAP

Clean Air Power – Surely there is an R missing in its EPIC Code?

Clean Air Power (CAP) has just raised £1 million at 4p – a 27% discount to the share price the day before the RNS. The stock now trades at a new year low of 4.125p and this appears a lesson in red flags. I’d not wan t to hold this stock as it strikes me that it is full of CAP.

SER
SER

Sefton Resources; refinancing wipes out shareholders

Sefton Resources’ (SER) refinancing package has caused quite a lot of bulletin board excitement. The problem is that none of the posters seem to have read or properly understood the terms of the deal. While the bulletin board Seftonologists witter on about 0.8p to 1p a share, they seem not to have noticed the overwhelming lack of interest in this stock. It turns out the market is pretty good at maths and, unfortunately for the Sefton ghosts, is not listening to a word of their murmurings. 

SER
SER

Ex Sefton boss Jim Ellerton is a liar and conman without shame – he should be in prison, instead he is trying to screw Sefton again

Results yesterday from Sefton Resources (SER) were predictably dreadful. The silver lining shareholders had hoped for was that after December 31st 2013 ex-boss Jim Ellerton would no longer be a drain on this AIM Cesspit posterboy. However, it seems not. Jim is still trying to relieve Sefton of any cash it might have. The man has no shame. I call on the current board to take steps towards trying to ensure that Ellerton goes to prison where he belongs.

Strategic Natural Resources; I call bullshit!

If Strategic Natural Resources (SNRP) is to survive as a listed company and come back from suspension with any sort of credibility, it has only one option open to it. CEO and Chairman, Alex MacDonald has to go. Now. After this morning’s appalling RNS, there really is no other option. The funny thing is he’s only been in the job for about seven weeks and we are already calling for his head. I don’t imagine we are alone. With the recent resignation of the company’s Nomad, Allenby Capital, and news this morning that three non-execs have also jumped ship, Mr MacDonald surely has staked a major claim on next year’s Cesspit Awards. We salute his effort, but in the meantime the plank beckons...

Anarchy

AIM Cesspit Awards 2014 Results & Dinner

The Sheriff of AIM is feeling rather fragile today in the wake of the AIM Cesspit awards dinner. Do not expect a great deal of output from me today. I had a good time and think that others did too. The wine and beer flowed freely, Evil and Lucian Miers gave good talks and David Lenigas pitched in with his thoughts on Nomads. A brave Quindell (QPP) shareholder turned up and was teased a bit but took it well. But you want to know who won.

SER
SER

Sefton Resources; shafted up the garden path

I have to admire the Dunkirk spirit of certain long term bulletin board supporters of Sefton Resources (SER). Surrounded on all sides, under constant bombardment from land, air and sea, this plucky little group of shareholders will never fail to see the silver lining in the storm clouds gathering over their heads, no matter how bleak or perilous they may be. I’ll write about the dire terms of Sefton’s refinancing deal tomorrow, but in the meantime the company’s results for last year are abysmal. Anyone considering buying into this revival story should have a long hard think about their nearest and dearest before throwing cash into this money pit of a company.

NBU
NBU

The Sheriff of AIM at the Naibu AGM – Pre Shoot-out Video

Outside the palatial offices of City financiers Daniel Stewart I waited for the massed herds to arrive at the Naibu (NBU) AGM. In the end seven other folks attended. Before going into battle I composed a few thoughts and recorded them on video.

SLE
SLE

Oisin Fanning and San Leon – gold star heroes of the day on AIM: a win for the Sheriff

I met up with Oisin Fanning of San Leon Energy (SLE) some weeks ago and though I liked him greatly I told him point blank that he was overpaid and his interests were thus not aligned with those of shareholders. I made a suggestion and to his credit he has taken it onboard 100% as the publication of today’s AGM agenda shows. This is a groundbreaking victory for The Sheriff and a great day for shareholder democracy and empowerment and I’d like to see it rolled out across the AIM Cesspit – a Fanning Rule.

SER
SER

Which AIM Cesspit Companies will be suspended at 4.30 tomorrow …some runners and riders

By 4.30 PM tomorrow all companies listed on the AIM Cesspit with a December 31st year end must have published their results or their shares will be suspended.  And here are a good few likely contenders as you can see below.

Anarchy

If you are coming to the AIM Cesspit Awards but have not heard from us, please read

There are fewer than 48 hours until the Second Annual AIM Cesspit Awards gala and we've emailed everyone regarding their menu.

If you have bought a ticket and have not received an email regarding your menu in the past few days please contact manager@therealmanpizzacompany.com. We're reading emails over the weekend.   

  • 2962 days ago

Astar Minerals – The Liar Repenteth via RNS and with a personal apology: Vindicated the Sheriff moves on

Twice in the past couple of weeks I have accused AIM Cesspit listed Astar Minerals (ASTA) of issuing an RNS that was a lie - HERE and HERE. Twice I have been pilloried by Bulletin Board Morons. On Friday Astar ‘fessed up via RNS and its chairman Andrew Frangos called me to thank me for forcing his company to set the record straight. The sinner repenteth, I am vindicated. The Sheriff of AIM is a merciful man and the incident is at an end, I move on.

Gagged

Reader Poll: Which AIM Cesspit Company will send a lawyer’s letter to Tom Winnifrith Next?

I have not had a lawyer’s letter for more than two weeks. I can only conclude either that the greedy fat cat City Bully Boy lawyers are all sipping corporate champagne at Wimbledon or that I am slipping and being too much of a nice guy for my own good. It is only a matter of time and so I invite readers to guess who will send me my next lawyer’s letter. And, to help you select which scumbags are likely to win, I offer a handy form guide.

NBU
NBU

Questions to ask Naibu at its AGM

Being a bear of Naibu (NBU), I don’t think it would be appropriate for me to attend Monday’s  AGM at the offices of Daniel Stewart, but if anyone is going they might like to ask the boss Mr. Houyan Lin ( via his interpreter) the following questions. And as it happens someone is going, Tom Winnifrith, the Sheriff of AIM. If he has nothing better to ask how about?

Anarchy

Join CEOs and Journalists at the AIM Cesspit Awards Dinner on Monday Night

The guest list is "er interesting" - more than half a dozen of the more interesting AIM CEOs, two or three Nomads, at least one individual publicly censored by the FSA/FCA,  a bunch of journalists, a sprinkling of PR birds and lots of food and booze. Yes it is the second annual AIM Cesspit awards dinner with talks by Evil Knievil and Lucian Miers. Fancy joining us?

Poor Phorm – Tits Up by mid-August unless more cash raised.

In the last days of March, AIM Cesspit listed Phorm (PHRM) raised £10 million. Today it has warned that unless it raises more cash urgently it will go tits up. I reckon tits up day is in mid-August.

Bodisen Biotech – what is the Chinese for “another joke company on AIM” and who is next?

If you are a good Chinese company you list in Hong Kong or Shanghai because it is easier to raise money, here is liquidity in your shares and ratings are higher. If you are a piece of Junk (geddit?) you list on the AIM Cesspit. Time and again it is the same old story. Today’s catastrophe is Bodisen Biotech (BODI) – which Chinese POS will be next?

Allenby Capital shoots Strategic Natural Resources in the head. (CORRECTED)

On April Fool’s Day, I wasn’t joking when I asked if someone could please shoot AIM zombie Strategic Natural Resources (SNRP) in the head. I just didn’t expect it would be the company’s Nomad and Joint Broker, Allenby Capital, which would respond to this call and deliver the final kill shot! Given that Allenby is Nomad to AIM Cesspit champion Sefton Resources (SER), one really has to wonder how bad the situation must be for these guys to have walked out on Strategic Natural with immediate effect. This doesn’t bode well for shareholders, as the company has until 0700 on July 24th to find a replacement or that is it; curtains.

Evil

Buy your tickets for the AIM Cesspit dinner on June 30th NOW

I am afraid that the two free tickets for the AIM Cesspit dinner offered thirty minutes ago have both been snapped up. But you can still buy tickets for the dinner on June 30th in Clerkenwell for just £40. The evening includes a three course meal, half a litre of wine per person and talks by Evil Knievil, Lucian Miers and a few words from me. We will also be handing out the nine AIM Cesspit Trophies.

QPP
QPP

Quindell Freedom of Information Request made to UKLA regarding failed move to main market

This article on Quindell (QPP) should be self-explanatory. I have this morning made a Freedom of Information Request to the FCA/UKLA regarding the failed attempt by Quindell (QPP) to make it onto the main list and off the Cesspit. The reasons given for the failure in the RNS of 11th June and the AGM Q&A on 19th June 2014 seem to differ. I would like this matter cleared up once and for all and argue that it is in the public interest that it should be.

SKR
SKR

A positive lesson from the foul smelling Sunkar Resources

Writing about AIM there are inevitably some pieces I bitterly come to regret. I can make mistakes, misjudge situations and can sometimes pick poor stocks. We all do. Even though my piece in April, which suggested Sunkar Resources (SKR) could be a decent recovery play at 1.75p is profitable (by the thinnest of margins), yesterday’s “recommended” cash offer of 1.835p has left me feeling disgusted with my original call. What on earth was I thinking?! This was obviously a plague ridden stock and I want to apologise for having said anything even vaguely positive about it. There is so much I’d love to write about Sunkar, but would invite trouble. However, there is one extremely positive lesson to take away from this deathly smelling share. As soon as a dominant shareholder or obscure financial institution lends a sizeable amount of money to an AIM stock, the equity is toast! 

Evil

Win one of 4 FREE tickets to the AIM Cesspit awards

On 30th June from 6 PM, Real Man in Clerkenwell will be hosting the second annual AIM Cesspit awards. Voting has been frenzied but it is not too late for you to cast your vote HERE.  The trophies will be handed out to the scumbags of the Cesspit (or to anyone attending who is vaguely connected with them).  And there will be talks by Evil Knievil and Lucian Miers.

LGO
LGO

Is a typo a hanging offence – ref Leni Gas & Oil?

Leni Gas & Oil (LGO) published an RNS last Friday which contained a typo. For this, my good friend Doc Holiday wishes to berate David Lenigas, also a friend. I think Doc is, on this rare occasion, wrong but I appear to be getting some flak for this on twitter.

Tom

Financial Video Postcard #37 – a week of shareholder activism ahead & RNS lies do matter

Tom Winnifrith returns to record his weekly financial video postcard ahead of a trip to the grim North to see the Mother-in-law. Some folks have all the luck. In this video Tom looks forward to an intense week of shareholder activism with particular reference to Tern (TERN) and Quindell (QPP)

Tern and Angus Forrest – will this week be his last? This is why it should be – the Full Charge Sheet

I gather that Angus Forrest the Chairman of AIM Cesspit listed Tern (TERN) has been off on holiday in France. I hope he had a nice time. But if he was there for the warm sunshine he’s in for a surprise when he gets home – the heat is really being turned up for him now. Welcome back, Mr Forrest. You may think that you can run off, go to ground, ride out the storm or whatever. We have not gone away. We are still here. Waiting for you.

The Pedants are Revolting: Angus Forrest of Tern PLC the Guillotine awaits you: New Lies Revealed

Between myself and Tom Winnifrith we have shown you ample evidence that while at AIM listed Digital Learning marketplace (DLM) now called Alpha Returns (ARGP) Angus Forrest and Bruce Leith misled investors in RNS after RNS and also committed corporate malfeasance regarding its CVA, I have also show how Forrest has misled investors at Tern (TERN) the AIM Cesspit company where the two men are now in charge. Surely Tern’s Non Exec and advisors must know that no-one will buy shares in their company until these two men face the guillotine. The peasants have had enough.  Just for the hell of it I flag something else…

QPP
QPP

Quindell: Cash, the UKLA and Looking ahead to a Shoot-out at the Not so OK AGM

The AGM of Quindell PLC (QPP) will be at 10 AM on Thursday 19th June and as a loyal shareholder (as of Monday) I shall be attending and am planning my questions as of now. A few months ago this would have been a love-in with his fan club taking turns to praise CEO Rob Terry, I wonder if the mood may have changed. I still expect to get lynched by Bulletin Board morons as I ask my questions. On what you ask?

Tangiers Petroleum and the interest free loans to directors, to encourage dilution

It is an immediate red flag for any stock listed on AIM, which holds its Annual General Meeting thousands of miles away. Irrespective of the nature of dual listings, companies on the London Stock Exchange should be directly accountable to British investors. Where shareholder approval is required, British investors should be given the opportunity to vote for or against proposals concerning the running of their companies. For God’s sake, this is the age of the Internet, so why should investors be expected to traipse all the way to the other end of the world, so they can take part in a show of hands vote in Perth, Western Australian? Funnily enough, speaking of Perth, this is exactly where Tangiers Petroleum (TPET) has just held its AGM, at which the board gained approved for approval for the company’s new and ludicrously generous Share Plan...

QPP
QPP

Quindell: UKLA rejects Rob Terry’s application to join the main market – the shares will stay on the AIM Cesspit

As it happens I was just having a long chat with my good pals at the UKLA (part of the FCA) today. What fine fellows they are. So they have turned down Quindell’s application to move up from the AIM Cesspit to the main market. Rob Terry tries to spin it as a minor issue but this is a disaster. Across the UK Bulletin Board Morons are feeling the pain as the shares have plunged to 12p. Guys you should have listened to The Sheriff of AIM with my many red flag warnings (another one today HERE) rather than slating me. You can all buy me a drink after the AGM next week to say sorry. 

Angus Forrest, DLM and the AIM Cesspit tale of woe Part 6 – the CVA which does not add up

I have already revealed enough in my first five articles in this series to get regulators crawling all over the mess that was Digital Learning Marketplace (DLM) run by Angus Forrest and Bruce Leith. Tom Winnifrith has taken the matter further and it is now clear that Tern PLC (TERN) must sack both Forest & Leith without any delay. The fact that it has not and that its City Fat Cat advisors (WH Ireland and Peterhouse) will not step in just shows how the Cesspit that is AIM stinks. I now turn to the CVA where Forest & Leith committed corporate malfeasance and issued false RNS statements.

RRL
RRL

A call on the AIM Investigations Team to investigate Range Resources and RFC Ambrian over the Platinum Partners scandal

The timing of this piece probably could be better. However, after last week’s revelation, about the 100million Citation shares held as collateral against the Platinum Partners loans, it surely must now fall on the AIM Investigations Team to examine the conduct of Range Resources (RRL) and its former Nomad, RFC Ambrian, over this matter. Irrespective of how the share price has performed over the last week or so, it appears that a material breach of the AIM rules has occurred. Range appears to have admitted this, so how will the London Stock Exchange respond?

Shocker: Angus Forrest & Bruce Leith – When is a £350,000 contract not a £350,000 contract

Tern (TERN) chairman Angus Forrest is fleeing the country. Okay, I exaggerate, he is on a boat to France as he prepares for a week’s holiday. How do I know? Because he has just called me. Forrest tells me that what I am about to publish is confidential. But since it is explosive does he think I give a FF? Come on DLM (now Alpha Returns), Forrest, Bruce Leith go send me a lawyers letter if you want.

The Lies of Angus Forrest – Let’s start with a small one (well FOUR) as his SACKING beckons

Angus Forrest the chairman of Tern (TERN) and his sidekick Bruce Leith must be sacked at once for the series of lies they told while running AIM Cesspit listed Digital Learning Marketplace between June and September 2012 and for the clear corporate malfeasance that took place. The are now officially "In sights" and the Sheriff of AIM is on the warpath - see HERE. The list of Forrest's crimes exposed here is growing so just to start of what will be a blitz of revelations I offer him an easy opener. When did DLM part company with its CEO Andy Hasoon?

Angus Forrest of Tern & Roland “Fatty” Cornish – New Documents arrive & the Noose is now Ready FOR YOU!

Oh dear.  Oh dear. If Angus Forrest, the chairman of AIM Cesspit listed Tern PLC (TERN) was having a bad weekend it just got a lot worse as a raft of new documents have fallen into my possession regarding events at DLM (where he was chair) back in July-September 2012. And as for DLM’s Nomad, Roland “fatty” Cornish? Roland, do you just ignore whistleblowers and allow your clients to lie to investors?  Fatty you are also deep in the merde now. I have a damning email which you do not wish to seepublished. Oh dear I am not the sort of guy not to publish am I?

USOP Comedy Genius Liam McGrattan is coming to the AIM Cesspit – you could not make it up!

Well this is the acid test for AIM – will it accept a listing from Liam McGrattan the Irish fellow who has brought us the stockmarket disasters US Oil & Gas (USOP), TeknoMining and many others. If the Cesspit allows Liam to list IMC Exploration then it is officially a joke market.

QPP
QPP

Quindell: Sorry to be a bore but about that full listing?

Call me a pedant if you wish but I am drawn to statements made by Quindell (QPP) regarding its move from AIM to a full listing and I wonder if it might be appropriate for the company to clarify matters for those like me who take an interest in its affairs. On 31 March in an RNS Quindell stated that: 

SER
SER

Has Sefton just admitted how close to death it really is?

Sefton Resources (SER) issued an “Update on Refinancing” forty five minutes ago. In it, the company says “the Inter-creditor Agreement provides for the Funder to advance additional subordinated loans to the Group in two instalments which will fund up to two 30 day extensions of the existing borrowing facilities with the Bank”. The “Bank” in question is Bank of the West (not specified by Sefton in its announcement) and these “two 30 day extensions” scream loud and clear what a desperate situation this company is in.

IRG
IRG

Exclusive: Independent Resources already seeking another £2.5 million – when’s the pre dump pump?

Independent Resources (IRG) won last week’s AIM Cesspit pump and dump (on mug punters) prize as it got its rescue £2.76 million placing away at 3p (the shares being 6.5p) after the pump but before the dump. But a City source makes it clear that the operation is not over yet.

VGM
VGM

Financial Video Postcard #35 – Vatukoula and Medusa de-list – who loses? Guess Who Edition

Despite facing certain IT issues this weekend Tom Winnifrith has recorded another video postcard which starts with plans by Vatukoula (VGM) to de-list. Who has gained from this company’s market existence and who loses now?

The sordid tale of AIM Cesspit listed Digital Learning. Now Alpha Returns Part 3

TW writes: This five part series of how private investors were lied to and ripped off on the AIM Cesspit is already making waves. Make no mistake heads will be rolling, folks will be getting fired and the regulators will be acting as a result of the dynamite revelations of Nigel Somerville. The story continues in part 3…

Anarchy

Vote NOW in the 2014 AIM Cesspit Awards

Now is your chance to heap opprobrium of those AIM CEOs and Companies that have made your poorer over the past year. On Monday 30 June we will be handing out nine trophies in the 2014 AIM Cesspit awards. All those who have made the Aim Casino the crony capitalist den of iniquity that it is will be honoured. 

VGM
VGM

Vatukoula Delisting – Scumbags, the Crony Capitalists Do not Care

It is better as a tipster to admit you are wrong and say sell (and get abuse) than to hang on and be proved you were wrong. I am thus glad to have advised folks to sell their Vatukoula (VGM) shares at 4.55p on May 7th HERE 

Tom

Book Your Place at the AIM Cesspit Awards Dinner on June 30th

On Monday 30 June we will be handing out nine trophies in the 2014 AIM Cesspit awards. All those who have made the Aim Casino the crony capitalist den of iniquity that it is will be honoured.

IRG
IRG

Independent Resources – The Pump and the Dump (on mug punters)

This is just par for the course on the AIM Cesspit – today’s less in how crony capitalism sees private investors shafted on a daily basis comes from the toerags at Independent Resources (IRG). This is just shocking.

AIM Regulation formally asked to investigate Beaumont Cornish & "Fatty"

We seem to be having a bit of a run in with Roland "Fatty" Cornish of Nominated Advisor Beaumont Cornish. First there was the little matter of New World Oil & Gas – see HERE.  Now we come to events at what is now Alpha Returns (ARGP) and matters from 2012 revealed by Nigel Somerville earlier today HERE

Tern PLC: Angus Forrest & Bruce Leith must go NOW – An Open Letter to Non Exec & Advisor

Nigel Somerville has earlier today (HERE) published the most extraordinary evidence of corporate malfeasance at what was Digital Learning and is now Alpha Returns (ARGP). The two directors exposed by Nigel now run Tern PLC (TERN), another sub scale investment company on the AIM Cesspit. I demand that they be fired NOW!

Part Two of a Five Part tale of woe from the AIM Cesspit: DLM now Alpha Returns

We continue our 5 part series on the tale of Digital Learning Marketplace, now Alpha Returns (ARGP). This is a simple tale of crony capitalism, the transfer of wealth from the many to the few. But was it all legal? Were investors lied to? The plot thickens as we meet Angus Forrest.

RRL
RRL

Less than 24 Hours to Nominate for the 2014 AIM Cesspit awards – A few ideas other than Peter Landau

Nominations for the 2014 AIM Cesspit awards close at 7 AM on Friday so you have less than 24 hours to nominate for the six (of nine) categories which are voted on and can do so HERE. Already Pete Landau of Range Resources (RRL) looks to be widely supported in ALL categories. But we welcome other nominations. If you are stuck for ideas:

A 5 part tale of woe from the AIM Cesspit - DLM, now Alpha Returns

A cautionary tale of woe from the AIM Cesspit, a new five part series begins today...

Pig

Nominate now for the AIM Cesspit 2014 awards!

It is time to highlight and celebrate the very worst of AIM with second annual AIM Cesspit awards sponsored by Shareprophets.com. At an awards ceremony and dinner in Clerkenwell on June 30th (Monday), real trophies will be presented to those who have helped make AIM the Cesspit it is and we will be entertained by guest speakers Lucian Miers and Evil Knievil with The Sheriff of AIm compering the event. There are seven awards.

Pig

My nominations for the AIM Cesspit Awards 2014 - BrokerManDaniel - with BMD's missing sixth choice!

It's great that the 2014 AIM Cesspit Awards are this year being held once again at The Real Man Pizza Company, Clerkenwell, London. I hope there are chips on the menu this year! The food was rather poncy/rich for my taste buds! The last known case of gout in Northern England was actually a Southerner who relocated for the BBC. I had a thoroughly enjoyable time last year. Not to be taken too seriously it's just a bit of a laugh or if you're from London "Larffff"

Tangiers Petroleum – extended fund raise – this stinks like a kangaroo's arse

Where do you start with the new posterboy of the AIM Cesspit, Tangiers Petroleum (TPET) and news yesterday that it has increased its fundraise from A$5 million to A$9 million?  The whole thing stinks

MIN
MIN

Minoan Placing at 12p – Insider Dealing on the AIM Cesspit

On 19th May shares in Minoan (MIN) traded at 16.375p on the AIM Cesspit. Then they started slipping and slipping and closed yesterday at 13.625p. Today a placing is announced at 12p. What do I conclude? That crony capitalists in the City are not content with buying stock at a discount but that they also engage in insider dealing. They break the law. Will the FCA do anything to stop the fuckers? What do you think?

Pig

My nominations for the AIM Cesspit Awards 2014 - Ben Turney

Another year goes by on AIM. Directors get richer, investors get poorer, the regulators find little to occupy their time with. By any stretch of the imagination, AIM  is not a healthy functioning market and it is too easy to cheat. How long this can all go on is anyone’s guess, but AIM is in desperate need of urgent and substantial reform. Here are my picks.

MXP
MXP

Max Petroleum - an utter piss take

AIM is an incredible source of guaranteed wealth generation, no matter how appalling your performance is. You can watch your share price dive over 75% in the space of twelve months, safe in the knowledge your next windfall is just around the corner. Of course, these rules don’t apply to the poor saps who buy AIM stocks, but rather the boards of directors who reward themselves come what may. Tom has been on the warpath about option awards recently, but in his absence today it is my turn to take up the banner. Step forward now the directors of Max Petroleum (MXP), if you can drag yourself away from the sickbag!

Pig

AIM Cesspit Awards 2014 – New Category Announced: Advisor of the Year

We give thanks to Comrade Somerville of the 1st Oxfordshire Regiment of the Peasants Army who has come up with a cracking idea for a ninth trophy to be awarded at the AIM Cesspit awards 2014 ceremony on June 30th "Advisor of the year"

Pig

My Nominations for the AIM Cesspit 2014 awards - John Crawford

There are some obvious front runners for the 2014 AIM Cesspit awards. I imagine that Todd Kozel, Pete Landau at Range Resources (RRL) and Black Mountain Resources (BMZ) and Jim Ellerton at Sefton will be nominated by many and so I offer up a few other suggestions who deserve to at least get on the voting short list.

Tom

Weekly Financial Video Postcard Number 34 – AIM Cesspit Edition

Tom Winnifrith is back with a new camera if not a new rugby shirt for his video postcard and he returns to a familiar theme – that of the AIM Cesspit.

Pig

My Nominations for the AIM Cesspit 2014 awards - James Parter

It is that time of year again, and I have enjoyed coming up with the names for my entries. Are my entries absolutely correct? Nope. But it was fun to come up with them and crucify those responsible for massive value destruction and crap creation. I shall tone back my use of caps lock during this article and the foreseeable future but let me say this, it is bloody hard to when talking about basket case stocks.

Anarchy

My Nominations for the AIM Cesspit 2014 awards - Tom Winnifrith

So many to choose from and so little time to think – who am I nominating for these prestigious awards? Ultimately it is down to you, the investing public to vote on who wins, but for what it is worth my nominations have been:

Placement Watch: Bluuuuuurrrrrrr Group - shocking price, hard to stomach

Shareholders in Blur group (BLUR) woke up to a nasty shock this morning. 37% of the company has been sold in a placement, at 75p a share. It is staggering to think that Blur Group peaked at 820p, only four months ago. Reminiscent of the DotCom collapse, fourteen years ago, these sort of wipeouts just shouldn't happen. But when people get sucked into rampant, speculative hype and good old fashioned valuation methods get thrown out of the window, is it any surprise that so many get scorched fingers? 

Tangiers Petroleum – An Apology from me, Questions and Condemnation

James Parter revealed some quite disgraceful ramping of shares in Tangiers Petroleum (TPET) yesterday. His analysis was superb and shows why an Australian website was publishing plain untruths about this dual listed company. I suggest reading his article here.

5 Gold Stars for Jim Mellon at West African Minerals: Aim Good Guy of the Day

On Sunday Shareprophets rightly criticised West African Minerals (WAFM) for repricing options for its directors. I chatted to Jim Mellon at the weekend and he rather weakly said it was to incentivise the board.

Nighthawk Energy – Why isn’t it telling shareholders about the big US law suit it faces?

And today’s star turn on the AIM Cesspit is Nighthawk Energy (HAWK) which was served with papers for a major law suit on April 29th. Surely under AIM rules it should have fessed up to shareholders even if it thought the case was without merit? Fear not, Nighthawk may not want to issue an RNS but the Sheriff of AIM is here to help.

Exposed: Professional Ramping Services - ref Tangiers Petroleum

Today I wish to enlighten ShareProphets’ readers with the truth. Not all tipping websites out there are remotely interested in making you money. They are more interested in lining their own fat pockets. Here is a case study of an example from yesterday and why the culprit website is not to be trusted.

Pig

The Sort of Director who does not get it, who wants only upside risk

I wanna tell you a story…it is a true story but not from the great Max Bygraves. It is from me and from a company meeting a while back and it is why I almost despair of some on public markets.

SER
SER

Sefton Resources - WTF is going on at Tapia, Tell us About (Up The) Sara Creek

Is there something in the DNA of AIM Cesspit listed Sefton Resources (SER) that makes it incapable of keeping its investors up to date with what is going on? That the AIM Regulation team has not ended the long running farce that is “Sefton and the lie machine” by kicking this POS off the market and publicly executing all current and historic directors defies belief. And so a few questions about Sara Creek. 

NOP
NOP

Northern Petroleum – Boardroom bonuses for what FFS? Shareholders can fight back today

A copy of the Northern Petroleum (NOP) annual report lands on my desk. Thud. A lot of trees went to produce this weighty tome which places undue prominence on 'elf n safey, Corporate & Social Responsibility, etc, etc. That is all a smokescreen of sanctimony to mask an act of brutal AIM Cesspit crony capitaism. Naturally I turn straight to page 87 of 96 and there it is. Bonuses for directors! WTF?

Placements

Placement Watch: Tangiers Petroleum, Motive Television & Strategic Natural Resources

Starting today a new irregular feature on ShareProphets, we will begin to monitor company placements and fundraisings, bringing you all you need to know about this darker side of AIM. Today we look at Tangiers Petroleum (TPET), Motive Television (MTV) and Strategic Natural Resources (SNRP).

Brady Exploration –blatant pump and dump, but who gives a damn?

Why, at ShareProphets, do we call London’s Alternative Investment Market a cesspit? Because it’s too easy to cheat. If you are of a certain corrupt mindset, then AIM is the perfect breeding ground for you to hatch all manner of devious plans to con people out of their money. You can plot your nefarious schemes, safe in the knowledge that absolutely nothing will be done to stop you. In any other walk of life theft is a criminal offense. However, thanks to the veneer of respectability that the London Stock Exchange affords to AIM, this inconvenient social convention is not only ignored it is trampled all over. Wearing a white collar, it seems, grants you immunity from prosecution.

GDL
GDL

Like father like son, today it is Greka Drilling spinning a profits warning as good news

Yesterday I flagged up how AIM Cesspit listed Green Dragon Gas (GDG) was happily issuing a grotesquely misleading RNS – see HERE. Today it is Greka Drilling (GDL), the spin-off company, which is spinning bad news as good and so legging over private investors. You think this is wrong? No this is AIM and it happens every day.

GDG
GDG

Green Dragon Misleading Investors – When is a decrease an increase? What a frigging joke.

This morning’s RNS from AIM Cesspit posterboy Greed Dragon Gas (GDG) plumbs new depths when it comes to spinning bad news as good. The company, its Nomad (Smith & Williamson) and its PR firm (Pelham Bell Pottinger, PR man James Henderson) should all be taken out and shot. This is such a total frigging disgrace in describing black as white. Words almost escape me.

Tom

I swear in articles so cannot be a journalist, right? Ffing well wrong.

I note that some people have started objecting to my language here. Fuck you. You are not paying to read me and no-one is forcing you to. But using naughty words does not stop this being journalism. And I note the objections only started recently…

SER
SER

Sefton Resources: Three Predictions of Doom for July

Sefton Resources (SER) the posterboy of the AIM Cesspit limps on with rescue finance now provided by an un-named consortium. The shares are now 0.175p which is almost 0.1p but I will cover that later. They will fall below 0.1p and that is one of my three predictions of doom for July.

RRL
RRL

Is Top City Financial PR Firm Buchanan mired in a Range Resources Dirty Tricks Campaign?

Part of the WPP (WPP) Group, financial PR firm Buchanan acts for more AIM listed clients than any other PR firm. But today I ask if the odours from its lavish Cheapside offices are not of expensive perfumes worn by glamorous PR birds, but from the stench of a dirty tricks campaign against those investors seeking management change at AIM Cesspit listed Range Resources (RRL)? There is no suggestion that Range itself is aware of this. So....

QPP
QPP

Quindell Statement – reaction from Evil Knievil and myself

With its shares having tanked from 14p a few weeks ago to just over 7.41p with most of the falls following annual results on Tuesday, Quindell Portfolio (QPP) – hitherto a darling of the AIM Cesspit – has put out a statement late last night.

VMP
VMP

In the AIM Cesspit: Verdes Management – The Alfa Romeo questions

At the weekend I exposed how Verdes Management (VMP) a company listed on the AIM Cesspit market had misled investors in a series of RNS announcements as it struggled to say afloat in recent months.

Subscribe to our newsletter

Daily digest of our latest stories.



Search ShareProphets

Complete Coverage

Recent Comments