In a world where anyone gave a rat’s arse about the rules, ADM Energy (ADME) CEO Osamede Okhomina would already be doing a stretch for his offer to buy shares at 7p made last August after a conference call at which all participants were told by ADM’s chairman Oliver Andrews that they were insiders. I exposed that HERE but it seems nothing is happening. But now a more serious breach appears to have taken place.
Following our 13 December bombshell about a sack the board requisition at AIM dog ADM Energy (ADME) the company ‘fessed up the next day and admitted it had received the correct paperwork from Richard “nobody likes me and I don’t care” Jennings of Align Research. But is it still playing by the rules?
This latest expose c/o Winnileaks is why shares in ADM Energy (ADME) should be suspended first thing Monday. Not only has the company and its hapless Nomad Carin sit on news of a major legal claim against it as I revealed yesterday but it seems to have met its second fake sheikh, a letter from whom is below. And to have used this fake sheikh to ramp the shares ahead of placings.
The good news for folks like David Lenigas, Charlie Wood, Anthony Eastman and associated scumbags who paid 1p per share for Hydrogen One shares in September, is that there is almost certainly no lock-in for them when the company lists in a few days time after a 10p fund raise on Aquis. That the junior market allows this is a total disgrace. How do I know this? Because of its older little bastard brother Helium Ventures (HEV) and this will shock you.
British Honey Company (BHC) which makes honey but not money listed on the Aquis lobster pot at 110p on March 16 2020. Amazingly the shares are now 114p but given the shenanigans of the past 18 months that is both unsustainable and ludicrous.
Fat Bastard Malcolm Graham Wood takes fees from companies to write (positively) about their shares without disclosing the payments. He will do this for any company even proven frauds such as the late lamented Frontera Resources (FRR) which is why he is the whore blogger. His defenders insist that he is fundamentally honest but can they explain this away?
Yesterday I took apart the ramptastic announcement from AIM-listed Catenae Innovation (CTEA) regarding its joint venture with BHA Medical, and showed that the JV vehicle was worth just 10p. But the nonsense does not stop there.
On 9 December, Catenae (CTEA) issued a TR1 which indicated that Spreadex had acquired a 10.54% stake up from an apparently nil or a previously undisclosable percentage on 2 December 2020. On 15 December, Catenae issued a TRI showing that Spreadex’s 10.54% interest had reduced to 8.23%
In today’s podcast I discuss Joshua’s Advent calendar then look at 2 very naughty Nomads and 2 of their grossly over-valued clients. Roland “Fatty” Cornish looks after European Metal Holdings (EMH). Liam Murray of Cairn looks after the ultimate Penny Dreadful, Catenae (CTEA). Then I return to Sarah Willingham’s NightJar and why she is destroying value for morons who pony up £6 million for the IPO on day 1. This is a scandal and Nomad Allenby should be ashamed. Then onto Purplebricks (PURP) before I look at Summerway (SWC) and why, whatever you pay you MUST buy its shares ASAP
Having been through this morning’s ramptastic announcement from AIM-listed Catenae (CTEA) and its joint venture with BHA Medical now known as Synovate Global Ltd, I thought I should take a quick trip to Companies House to have a butchers’ at Synovate.
Tiziana Life Sciences (TILS) was last week’s AIM ramp, briefly touching 300p on Friday (a £506 million market cap) before closing for the weekend at 268p. It’s more than 10-bagged from its 24p low at the end of February and, as you might have guessed, the reason is because it’s a coronavirus ramp…
The judgement which I publish in full below from the International Arbitration Court is damning. For those, such as scumbag PR advisers Yellow Jersey, the whore blogger Malcolm Graham Wood and Nomad Cairn which, for years, helped the, formerly AIM listed, FRAUD Frontera Resources (FRR) to raise millions of pounds from mug punters, it is document demonstrating their wholesale moral bankruptcy. Those involved continued to push the shares even AFTER I had shown the company to be a fraud run by liars.
That AIM-listed Catenae Innovations (CTEA) is in a state of technical insolvency is surely beyond question. Last night at 5.30pm – no-one-is-watching o’clock – the company announced the appointment of a new sole Broker in the form of Brandon Hill Capital and miraculously, this morning it has announced it has joined a consortium with the objective of building an identity documentation system to record an individual’s Covid-19 test status. Yes folks, this technically insolvent POS is trying to jump on the Coronavirus bandwagon! But this morning’s RNS has to questionable on at least one point…..
There is no answer to the question as to whether AIM-listed Catenae Innovation (CTEA) was trading whilst insolvent, as posed here. But what we do know is that the fat lady has finished her warm-up and is coming on stage: we learnt at 1.20pm on a Friday afternoon (AKA no-one-is-watching o’clock) that there is still no sign of the rescue bail-out funding hoped for on 11 January. And Catenae isn’t even sure whether the funds it hopes for will be in the form of equity or debt even if it does arrive. It doesn’t sound as though discussions have advanced very far, does it?
How insane is this even by the standards of the AIM Cesspit? In late August this year I exposed how Sheikh Ahmed Bin Dalmook Al Maktoum had invested in a placing by what was MX Oil (MXO) got it to change its name to ADM Energy (ADM) in his honour as he became President, saw the shares rocket, and then sold all his shares before announcing he was quitting sending the shares crashing from 20p to 4.5p today. Wind forward to November 28…
I despair at the stupidity of some investors. I detailed earlier a series of threatening and frankly idiotic tweets from Iconic (ICON) shareholders to me encouraging me to stop doing my job, with threats and abuse. But one moron stands out for his stupidity.
In today's podcast i look more at the Sheikh on the make at ADM Energy (ADME) and the failure of Nomad Cairn of Cloudtag (CTAG) infamy. Just how big is that failure? Then a few words on Neil Woodford and finally I discuss the full extent of the possible regulatory horrors which follow on from today's shocking breaking news on AIM "superstar" First Derivatives (FDP) . Update First now says the lawsuit that could have bankrupted it was withdrawn ( it has not said why) on Friday. That does not explain why there was no RNS on Wednesday.
Here haven’t been so many diabolical after-hours announcements as there used to be, but ahead of the Easter double bank holiday – at 6.19pm on Thursday evening – AIM-listed Modern Water (MWG) showed that the tradition is alive and kicking. Its investors might have gone home but ShareProphets was watching….
Frontera Resources (FRR) did not wish to leave the AIM Casino. Having its shares freely traded meant it was able to obtain death spiral finance to bay its bills. No trading facility, no death spiral, no future. But…
Well the year is up, the results are in and my pick of five AIM stocks to sell has offered up a pretty good result. I doubt these shares could easily have been shorted, but I hope readers managed to avoid them at least.
Last weekend we served up two stashes of documents HERE and HERE which made it clear that on a serial basis Frontera Resources (FRR) had either not informed its Nomad Cairn and the wider AIM Casino market of pertinent news or had, in some cases, simply lied to one and all. On Christmas Eve at 7.30 AIM Cairn quit as Nomad and the shares were suspended. That prompted the biggest lie of all.
I have spent all weekend being abused on twitter by morons who own shares in Frontera Resources (FRR) - notably @keithcareth, check his feed he is insane - who insisted that I did not know what I was talking about, that the FCA was after me, etc etc etc. I await an apology as today – as was inevitable after our weekend revelations HERE and HERE – the Nomad, Cairn, has quit. The shares are suspended and here is why it is game over.
The court filing below hangs Frontera (FRR) in its own words. It makes it clear that it is in default on the Outrider loans so is likely to lose all its assets. It also lays bare its failure to secure external funding throughout the past nine months and its now utterly parlous financial state. The shares should be suspended first thing Monday. If not they will utterly collapse. If you have ignored my repeated warnings and can sell Monday do so at any price. And this document may trigger another FCA investigation.
As it tries to stop its share price collapsing ahead of its much needed bailout refinancing, Frontera Resources (FRR) has announced another lie-fest, or as it terms it “shareholder update meeting followed by Q&A” on October 4. The City’s top oil analyst Zac Phillips of SP Angel is damning on this POS in his morning email but gets it 100% wrong when he says there is “Only 1 question.”
Yesterday Frontera Resources (FRR) received a second lawyers letter from convertible loan note provider Yorkville in regard to the $2.65 million outstanding debt on which it is now in default. The letter accused Frontera of lying to investors. Frontera has not disclosed that letter, or its contents nor has it repaid the sums due to Yorkville Instead it has issued another RNS which is simply misleading. It is doubling down on lying and apparently Nomad cairn is fine with that?
In the end the chaps at Nomad Cairn walked from Cloudtag (CTAG) when it was clear that it was a fraud run by liars. Frontera Resources (FRR) is a shit show run by liars and a fallout with death spiral provider Yorkville (YA) today could be the final straw for Cairn – might it resign leaving the (worthless) shares suspended? Or will Frontera just go bust?
It does seem like this is dragging on but the class action group of shareholders in what was AIM listed African Potash (AFPO) seeking compensation from Nomad Cantor Fitzgerald for allowing untrue RNS statements to be issued, seem on the verge of actinn.
If you were dumb enough to own shares in the fraud Cloudtag (CTAG) before it was booted off the AIM casino you will swallow any old horse. If proof was needed of this two investors, from the Shareholders Group committee, met with the company's CEO Amit Ben Haim and its IR man Jamie Bligh on 13 February. The minutes are a hoot and can be accessed below.
AIM-listed Milestone Group (MSG) has been up to its neck in controversy for over a year now, but I wonder if the company has had some bad news it hasn’t quite got around to sharing. This is regarding its blockshain spoofery (oops), I mean its software license agreement with Black Cactus Global Inc (Envoy Group as was) which we were told it had entered into on 6 December.
In today's podcast I spend a lot of time looking at Pantheon Resources (PANR) - when is the next bailout placing? I make wider observations about this sector. There is then a direct challenge to Mileestone (MSG) about Lyin' Larry and to its Nomad Cairn Financial. I then look at Mila (MILA) and MySquar (MYSQ) commenting on how some AIM CEO's groom BBMs like peadophiles groom their victims. Sam Antar has made the same analogy . It is all about gaining trust.
Yesterday we accused key Milestone Group (MSG) player Larry Cummins of lying about his educational achievements. Cummins has told Align Research, a supporter and shareholder, that our article was not true. He has "denied" it. Align has thus urged Milestone to make a statement and has again urged it to comment on today's article about Adrian Towning. You can see the tweet from Align below. We urge Milestone to proceed with extreme caution on this matter...
This has massive implications for the AIM Casino. We saw last week that the London Stock Exchange was washing its hands of tackling Nomads who sign off on frauds and so allow investors to lose all their cash to shysters. Now the private sector moves in. I can reveal today that Cantor Fitzgerald will be sued by investors who lost money on the African Potash (AFPO) fraud because it was negligent in signing off on fraudulent releases. If this case wins the floodgates are open...
As we saw earlier as I relayed the sordid take of Rita, her brother and Belle Trace, not so lovely Riita Whittington, the shamed and embattled CEO at Magnolia Petroleum (MAGP) entered a service contract with her employer on 11 November 2011. On 2nd June 2017 the company received a GM request to, inter alia, fire Rita. So what to do?
At the end of the Cloudtag (CTAG) session at UK Investor Show a man called Peter Petyt was introduced. He has been working with Tom Winnifrith to see if a case can be brought by those who have lost money on the fraud African Potash (AFPO). And it is now looking more than okay.
Good try Waseem. The great Bear raider and professional Northern git nominated himself as the Bulletin Board Moron of the week for expressing sympathy with Cloudtag Morons who had lost money on the fraud. In normal circumstances I would give Waseem the prize. But his was one of 50 entries last week. As you can see HERE many of them were splendid as the Cloudtag (CTAG) loons went into meltdown. The winner arrives late in the day and displays such a string determination to ignore all the known facts, that I almost admire this moron.
Some bear raiders are on the pitch...they think it is all over: it is now! Nope not West Ham winning the World Cup but the stockmarket career of AIM fraud Cloudtag (CTAG). Nomad Cairn has brought forward its resignation from April 10 to last night, the £975,000 placing announced last week has been pulled and it is ouzo time for me while on the council estates the LSE Asylum rampers gnash their teeth. Come on guys, say it slowly "Yet again Tom Winnifrith was right and we are morons, we apologise for all the abuse we gave him, the Sheriff of AIM rocks!"
And so ShareProphets AIM-China Filthy Forty play Jiasen’s (JSI) AIM listing is no more. It has become the 24th delisting from our original forty, after its shareholders voted (having been told it would make a fat-track application to NEX) to leave the Casino on the recommendation of the board. The NEX application didn’t happen, with the company claiming that it was now considering listing in Hong Kong. I’ll believe that when I see it.
Why were Cloudtag (CTAG) shares suspended yesterday? I answered that in part HERE but can now add more detail. Welcome to the ghastly and murkeyand sordid world of T+10 placings.
It has today been announced that Nomad Cairn will cease to act for AIM listed (pro tem) FRAUD Cloudtag (CTAG) on April 10 at which point the shares will be suspended if no other Nomad is prepared to agree to sign off on lies issued via RNS. The shares have crashed to 2.75p to sell which means that those clients of Novum Securities who were stuffed into a placing at 3.75p THIS MORNING must be well pissed. But fear not... I have a shocking revelation that gets them off the hook.
I had brought the bottle below back from Greece for my father. But I know he will understand. It is a very large celebratory ouzo for breakfast as the AIM fraud of the year Cloudtag (CTAG) has fessed up - its hapless Nomad Cairn has finally had enough of signing off on lies and has quit. It gets worse and it is going to get worse still. Bulletin Board Morons and Aidan Earley who smeared and attacked The Sheriff of AIM for repeatedly calling this out as a fraud line up and apologise now you bastards!
Normally PR firms, being so utterly 100% morally bankrupt, only resign an account for an AIM PLC if the client can't pay its bills. Just now and again a PR firm finds a client so utterly fraudulent that to protect its own reputation, it walks - think the FRAUD African Potash for instance. And so that brings us to the FRAUD Cloudtag (CTAG).
Shares in ShareProphets AIM-China Filthy Forty play Jiasen (JSI) have collapsed by another 38% today (last seen) after admitting this morning that having called an EGM proposing to cancel its shares from trading on AIM and move to NEX (the lobster-pot formerly known as ISDX) the application has still not been made. This morning’s RNS makes clear that there is a deadline of tomorrow. Oh dear, oh dear, oh dear. Surely it could not be that NEX, which even found African Potash (AFPO) acceptable, has indicated that it doesn’t want the last remaining listed member of the Fujian Four gracing its exchange, could it? Or is it that the company never had any intention of getting onto NEX?
There will be no bearcast today as I am fully engaged on Vlach hunting in the Pindus mountains. One tearful reunion is complete but the big one will happen soon. The internet is not fast enough to transmit back to the UK from the little village of Anelion but I shall try to post a podcast tomorrow before I travel the length of Greece down to the Mani. Pro tem I guess you were wondering if Cloudtag (CTAG) CEO Amit Ben Haim has got any balls.
Oh happy days. It has been just over three weeks since some poltroon made my day by sending over a fascist lawyer's letter and I was starting to get bored. But here we go again: the forces of good vs stockmarket shysters inc & their bully boy lawyers. Right now I am looking after Joshua while the Mrs gets her hair cut (why that takes 135 minutes I know not) so I shall not respond in a manner which I am sure you can guess until tomorrow. So pro tem who do you think has asked to be vested with the curse of ShareProphets. Vote below with a deadline of midnight tonight:
AIM-listed jam the day after tomorrow company CloudTag (CTAG) has announced the latest death spiral loan conversion by L1 – this time at just 4.5p per share. Of course, for a company with no product and no orders and which has been, shall we say, economical with the actualitees that is still overvaluing the shares by 4.5p.
Yesterday we noted the announcement from ShareProphets AIM-China Filthy Forty play - and one of the Fujian Four – Jiasen (JSI) that it was proposing to delist from the Casino. Having listed at 82p per share in 2014, the current 3.125p (mid, last seen) seems a trifle disappointing. Today the company has given its reasons for the proposal. Try not to laugh….
If I sound more like my father that is a good thing for he is honest and precise in his use of language, although he would not use some of the "french phrases" which occur in this podcast. I discuss the use of language and how wording has an exact meaning - this is in relation to Coral Products (CRU) which needs to clarify something. I do not think it is a fraud and it can easily blame its useless Nomad Cairn. After what it has signed off for Cloudtag (CTAG) few will fail to accept such an excuse. I then move onto deliberate lying by AIM Companies which is actually quite rare. Gross over-promotion is quite common. I explain the difference. Cloudtag and Advanced Oncotherapy (AVO) are mentioned in detail in this section. In discussing what is a fact I refer to my article of yesterday on Holocaust Memorial Day which is HERE
You think that following director share buys is smart? Not always. I start with Coral Products where old Joe Grimond really is spoofing us all with a recycling of a dividend that really should not be paid. Coral also highlights those scallywags at Cairn signing off on another RNS lie just like they do for the fraud Cloudtag (CTAG). Then I look at Quindell (QPP) in that vein and at Avanti Communications (AVN) commenting on its refinancing completed today. Then it is onto the hot gossip of the cash crisis at Advanced Oncotherapy (AVO) where I have another story breaking this weekend. Finally I touch on the troubles at Guscio (GUSC)
Coral Products (CRU) served up its interim results on December 8 with a bullish statement on the rest of the year. Today we are told that "a poor trading performance at its Coral Products Mouldings Limited subsidiary during November and December 2016 group profitability for the year ending 30 April 2017 is likely to be materially below management's and market expectations." WTF - how on earth was the December 8 statement not massively misleading? is that down to a deliberate wish to mislead or just incredibly bad internal financial controls?
Tom Winnifrith and Waseem Shakoor were commenting yesterday on where shares in AIM-listed CloudTag were heading. Obviously the end target for a company with still no working product available to sell, revenues of zero and stonking cash-burn is nil. But the focus of attention is the L1 funding package and when it could fall apart.
I just ask a simple question about AIM-listed CloudTag (CTAG) and this pesky financing deal with L1 involving convertible loan notes and associated conversion warrants. Something caught my eye in yesterday’s RNSs from the company, in which it announced yet another loan conversion – and the first (I expect of a great many) warrant exercises by L1.
Hapless Nomad Cairn has so far refused to resign as adviser to the AIM fraud Cloudtag (CTAG) despite incontrovertible evidence of house it has misled investors with RNS statements that are outright lies throughout 2016 and in doing so has committed blatant securities fraud. Today's shock video from CES where an Onitor spokesman admits that there is no release date yet is surely the straw that breaks the camel's back in that it directly exposes as a lie every statement made in November & December about 2016 sales that was used to get away a £4.1 million death spiral fund raise. I have written to Tony Rawlinson & Liam Murray at Cairn and cc'd in that useless poltroon Marcus Stuttard, head of the oxymorons at AIM Regulation demanding a statement and action.
Yesterday the bear raider Waseem Shakoor tweeted that he expected another conversion notice within 24 hours as L1 sought to offload another line of its death spiral loan funding onto AIM-listed CloudTag’s gullible shareholder base. Right on cue, this morning we learnt that the conversion notice was served yesterday, seeing L1 convert £250,000 of notes into shares at just 6.5p. That, against the current bid price of 8.5p. Having thought that my plan for great riches as an AIM death spiral financier might be fraught with danger, I wonder whether I should reconsider.
African Potash stated in its annual report that on the ISDX (now called NEX) lobster pot it might be more difficult to raise money than on the AIM casino. I should cocoa. The last trade was on December 29. Liquidity is just nil and the 0.05p offer prize only applies if you want to sell peanuts amounts. If you invested in this fraud just accept that your shares are now worthless as it cannot get awaqy the £600,000 placing it dsays that it needs to survive. So Potash is going to go bust soon. But your cash might not be lost. There is a small chance.
With the L1 funding package now fully drawn, AIM-listed CloudTag has now had an awfully large amount of money, yet we are still to see a product available for it to sell. But thumbing through the RNSs of the last few months shows an incredible cashburn. Where has it all gone?
Two RNS announcements this morning from AIM-listed CloudTag (CTAG) this morning tell us that the company has drawn down the final amount of cash under its death spiral funding deal with L1. The problem is that the dates don’t quite work. Perhaps Nomad Cairn would care to clarify (yet again)?
Lucian is off on a tour of Eastern Euroland but when asked what his top sell tip for 2017 was he was in little doubt - at almost any price the answer is Cloudtag (CTAG) with a target price of nil. Actually Lucian does not see the shares hitting zero. However...
The ‘fessing-up RNS of yesterday leaves a few unanswered questions – so many that I just can’t help but wonder whether what we think we are being told is not actually the same as what we are being told. Let me explain as we “Fiske” the text and wonder whether there had, in fact, been a retrospective alteration to the terms of the loan conversion and associated warrant terms.
I kick off my contribution to the 24 share tips of the year for 2017 that ShareProphets writers will be publishing between now and January 3 with one of the four sells I shall deliver. And I start with the most obvious: sell AIM fraud Cloudtag (CTAG) at 7.125p with a 0p target.
And so AIM-listed ClieTag (oops) CloudTag (CTAG) duly ‘fessed up in the wake of my piece yesterday that it had not been telling the truth. Again. But it gets worse, as the company only dealt yesterday with hitherto undisclosed warrant exercise terms. It did still does not clear up the issue of the loan conversion terms and so, unbelievably, yet another confessional RNS statement is needed.
It seems like an eternity of lies ago but the EGM of AIM fraud Cloudtag (CTAG) was in fact just 11 days ago and at that meeting shareholders approved two motions relating to share issuance that allowed the L1 death spiral to go ahead. But they were lied to.
And so today we have another revelation, this time from Nigel, showing how the rotters at Cloudtag (CTAG) have once again lied to investors in an RNS. I say once again because we have now lost track of the number of times this has happened. And the lies have been told with deliberate purpose: to pump the share price to allow both insiders and those backing placing after placing to dump stock at inflated prices. This is fraud. Yet Nomad Cairn continues to sign off on these lies issued via RNS, to tolerate CEO Amit lying in podcasts and videos to ramp the shares. So I have written once again to Cairn and cc'd in AIM Regulation
Well surprise, surprise. AIM-listed CloudTag (CTAG) gets its shares unsuspended and a few days later L1 converts another batch of loan notes, as announced in last night's no-one-is-watching o’clock RNS. OK, no great surprises so far – especially in view of the price action since the suspension was lifted. But look at the terms: has there been a a material and previously unannounced change, and if so, when?
In an article earlier today by Nigel Somerville, we raised the question of how and when Cloudtag (CTAG) incurred £50,000 of costs on the issue of the first part of Tranche 2 of the L1 loan notes and whether it was an additional fees levied for the restructuring the L1 Loan notes. Since this fraud and its hapless Nomad Cairn have not been forced to put out a statement clarifying prior deceptions for five whole days, I fear its time for another one. You see...
After last week’s “cleansing” RNS which saw the previous suspension finally lifted, you would have thought that there were no further little surprises to come from AIM-listed CloudTag (CTAG). So imagine my surprise at reading yesterday’s RNS announcing the drawdown of the latest lump of cash from L1: just where did £50,000 of expenses come from?
Yesterday’s staggering RNS from CloudTag (CTAG) has already been covered brilliantly in the CloudTag Bearcast special with Tom Winnifrith at his acerbic best – an absolute must-listen - but I have a couple of other observations and am unable to leave the L1 conversion notice date lie alone just yet!
Nomad Cairn has not resigned as adviser to Cloudtag (CTAG) even though it has lied to investors on a serial basis and committed Securities fraud. Cairn's reputation is thus in tatters. It thus begs the question of how any of its other clients are frauds, how many are simply not investment grade material and how many of the few good clients will want to be associated with the disgraced Nomad for much longer as it will not help their share prices to be linked to this rotten, stinking adviser. The clients are listed below by AIM or ISDX category.
Now for the drill down in detail on the horseshite served up by liars and fraudsters Cloudtag (CTAG) and morally bankrupt Nomad Cairn in yesterday's disgraceful RNS - the overall take is HERE. Let us now look at the new distributor in the UK and Europe Nemesis. It will work alongside Second Chance which used to have an exclusive deal and was guaranteeing 2016 sales of $5.2 million, It has delivered nil. So will Nemesis do any better?
Wow! I’d love to have been a fly on the wall over at Cairn Financial as the wording of last night’s no-one-is-watching-o’clock RNS from AIM-listed CloudTag (CTAG) was being, ahem, “discussed.” I wonder how long that lot took to put together….since last Friday? It was a real shocker.
Cloudtag (CTAG) has released an after hours RNS. It beggars belief that Nomad Cairn has signed off on this shite, More lies to compound earlier lies but also an admission of more breaches of AIM Rules and that 2016 sales will be zero, contrary to earlier lies. It is all utter horseshite and in this special podcast I take apart this statement bit by bit. It is a bad day for AIM. Cairn you should be ashamed and is beneath contempt. Cloudtag has lied and committed fraud and its shares are a sell with a 0p target.
In this podcast I revisit the vexed subject of Xtract Resources (XTR) which begs the question of when exactly I should sack Gary Newman and Steve Moore. Having seen a Christmas Carol last night I am inspired by my hero Scrooge, that is to say before he got all soppy, Guardian reading and pathetic in his old age. I also comment on Management Consulting (MMC) before returning at length to Cloudtag (CTAG). This time I play the ghost of Christmases yet to come with a warning for hapless Nomad Cairn. I also comment on Sula (SULA) with whom I met up yesterday.
Oh dear, oh dear. Bad news for bulls of AIM-listed (pro tem) CloudTag (CTAG) this morning – and possibly for L1. Last Friday the shares were suspended with no reason being given, “pending an announcement”. An announcement duly followed (at no-one-is-watching o’clock) telling us that L1 had issued another conversion notice and that it was expected that dealings in the Shares will commence on or around 15 December 2016. The shares, however, remained suspended pending another RNS. Well, we’ve had this morning’s AIM notice but no such admission to trading has been announced.
Cloudtag (CTAG) lied not once but twice by RNS last week so it repeatedly lied to investors. Either Nomad Cairn was in on the lies (plural) in which case it should lose its license or it too was lied too in which case it must resign. For the avoidance of doubt Cloudtag are liars and its CEO Amit Ben Haim signed off on the release. So he is a liar too. I invite both to sue me for libel and if Cairn won't quit it is then complicit in the lying so it can sue me too. Over to you liars... On Wednesday 7th Cloudtag Inc issued the following lie via an RNS titled “Movement in Share Price”
It seems the pantomime season has started early: AIM-listed lifestyler Milestone Group (MSG) has announced that it has raised a keep-the-lights-on placing at just 0.3p, and that of the original October placing which was announced to have brought in £1.385 million, only £60,000 has made it to the coffers. If Nomad Cairn Financial thought that its (currently suspended) client CloudTag (CTAG) was just a rogue case, Milestone begins to make it look more like carelessness.
The share options which were in force when Cloudtag (CTAG) was admitted to AIM in March 2013 contained certain vesting conditions. These included a product launch date of 20 March 2014 plus other specified criteria including turnover exceeding £750,000 in a month! and a specified share price being exceeded for a five day period starting at 40 pence and increasing to 60 pence.
AIM-listed CloudTag (CTAG) has a lengthy charge sheet against it from this site. But now I want to go through the maths on the headroom available to the company to issue shares and warrants to L1 as it converts its loan notes. No doubt the company will wish to clarify the situation – perhaps with the able assistance of its Nomad, Cairn Financial, which we know is watching carefully. Draw your own conclusions from what follows - I've drawn mine!
In the greater scheme of the litany of financial crimes committed by Cloudtag (CTAG) you may well regard this as small beer. Sure. But it is a clear breach of AIM Rules and yet another thing for hapless Nomad Cairn to address if it has not decided that it has had enough of putting its (increasingly less good) name to outright lies, and resigned. So what is AIM Rule 26 and why has Cloudtag broken it?
A great call from Cynical Bear appears to have forced a statement out of AIM-listed CloudTag (CTAG) and a suspension of the shares. But close reading of last night’s no-one-is-watching o’clock statement suggests that the announced loan conversion and warrant issue is not all that it seems. I’ll come back to the issue of headroom later, but first there are a few issues which need to be clarified by the company in short order.
Just a couple of hours after my suggestion yesterday that CloudTag (CTAG) might be sitting on price-sensitive information, the share was suspended and an after-hours RNS came out announcing that, funnily enough, the L1 conversion had taken place after all. Glad to be of service! Unfortunately, CloudTag can't help itself and I don't think they've come totally clean just yet.
I’m a bit confused about what’s going on at CloudTag at the moment (aren’t we all). Until recently, I thought I understood L1’s modus operandi, namely make as much money as possible as quickly as possible but I don’t understand why it hasn’t converted a tonne of shares at the closing bid last Friday of 6p……or have they?
Staff at Cloudtag's (CTAG) hapless Nomad (Cairn Financial) must be going bonkers. My friend Liam Murray does not have much hair but he must be tearing out the little that he does have. A CEO who communicates not only via RNS statements that are totally untrue but also via private emails to members of a shareholder base from Bedlam who will at 2+2 to make 27 is a toxic mix. It is not how a regulated orderly market is meant to work. And so yesterday shares in Cloudtag zoomed ahead by as much as 35% peaking at 8.5p. So Cairn forced the CEO, Mr Amit Ben Haim, to make a statement. The shares closed at 7.875p. The statement is a total joke.
Oh dear. Oh dearie me. With the share price of embattled AIM-listed CloudTag (CTAG) still coming down faster than a Waseem Shakoor post on the LSE CTAG BB, the bid price has dropped to just 5.25p last seen. If my maths is right, L1’s outstanding loan notes can’t all be converted until after the forthcoming EGM (assuming that shareholders approve the relevant resolutions). Even then, it looks as though Tranche 2 is in danger of not being convertible if the bid price falls much further. Perhaps the Nomad, Cairn Financial, might wish to have the matter clarified to the market.
I bloody well told you all that that Corvus Capital, the vehicle of uber-dodgy Andrew Regan had dumped all its shares in Cloudtag (CTAG) onto bulletin board morons ages ago. Natch the morons denied it all, insisting that the "visionary" Regan was still on board. Uh oh...Cloudtag has fessed up. Another small victory for the Sheriff of AIM.
Oh dear, AIM-listed jam- (and product) tomorrow (or sometime, maybe) CloudTag (CTAG) closed last night notching up (or, perhaps down) a bid price of just 6.75p per share. This might be causing a few headaches over at L1 Towers as it seeks to convert its remaining £1.2 million of convertible notes from Tranche 1 of its death spiral funding package. My plan to become a death spiral financier on the Casino seems to have hit a nasty problem – that of headroom in already existing share issuance authorities of the investee company running out and leaving me lobster-potted in unconvertible notes. Of course, I can “persuade” the company to increase the authorities, but time is of the essence: I want to offload ASAP and bank my bunce.
Over the weekend I urged AIM Regulation and the FCA to open a formal enquiry into market abuse and securities fraud by the AIM uber-fraud Cloudtag (CTAG). This morning I have sent an urgent missive to AIM Regulation and its hapless boss Marcus Stuttard asking why Cloudtag is not being forced to postpone its General Meeting allowing it to issue more shares.
Following suggestions yesterday HERE that Cloudtag (CTAG) was being rather tardy in turning a binding HOT into a solid contract with US Distributor Cities announced on August 8, two days before a placing, into a contract, hey presto wre have a contract announced today. But hang on Henry...
Oh dear. They say that no news is good news and so conversely it was beginning to seem that every time AIM-listed CloudTag (CTAG) opened its mouth via the RNS system these days it was bad news. What a come-down from the good old days when it could announce anything it liked and the market loved it. Perhaps the company’s fortunes will change with this morning’s ramptastic RNS, although the reaction seems a tad muted already. Watching this unfold I wonder if my plan for instant wealth as a death spiral financier might hit a snag.
How on earth can Nomad Cairn continue to act for the fraud Cloudtag (CTAG) as it today fesses up to another pre-placing hoodwinking of investors? After the Second Chance guaranteed sales of $5.2 million RNS ( 4 days before a placing) statement was exposed as a big fat lie, now we turn to the US distributor Cities.
African Potash (AFPO) needs to find a new Nomad by December 7th or its shares will be suspended. Cantor Fitzgerald is tired of putting its name to outright lies published to facilitate Securities Fraud and has quit. Potash says its talking to a replacement but which Nomad would act for this proven fraud? You decide in the poll below. Voting deadline midnight tonight ( 22nd November).
Yesterday I pointed out that having once owned 28.8 million shares in Cloudtag (CTAG), Corvus Capital the vehicle of dodgy Andrew Regan now appears to own no shares in this uber ramped fraud. I now draw your attention to page 13 of the last annual report which you can see HERE
Talk about a good day to bury bad news: every media commentator is trying to come to terms with the election of Donald Trump (with the notable exception of our own Tom Winnifrith, who is off to get his new Poll Sheriff’s badge) and so at 3.41pm yesterday AIM-listed Milestone Group (MSG) slipped out a “miscellaneous” RNS. It may have won two big contracts recently but in terms of this RNS, there was nothing miscellaneous about it: this company is in serious trouble.
I have written to Santa and think that I have been a jolly good boy this year and so I have made him a list of presents which you can see HERE. One of them concerns Cloudtag. But the matter of Cloudtag (CTAG) and Christmas is praying on my mind - when will the fraudsters admit that the guaranteed $5.2 million of orders for this year is not going to happen?
I start with an apology to Ms Jo Hart of Midas in the Daily Mail who I termed a silly witch who shames our profession last week. She is, in fact, clearly the world's greatest tipster for today she has lavished praise on a stock we own shed loads of- Concepta (CPT). I end with a note that I have put my daughter straight on Donald Trump HERE. The bu;t of the podcast discusses bigger fool investing with reference to Cloudtag (CTAG) and I explain why Cynical Bear was far too kind on the POS company earlier today and why I am reporting Cloudtag and its Nomad Cairn to the regulators for either lying to investors or misleading them in a material way four days before a bailout placing.
Time and time again this year Cloudtag (CTAG) has been able to raise funds at a small premium to the prevailing mid. It did so again today raising £580,000 at 5.8p, a 5.45% premium to the closing price yesterday of 5.5p. Questions, questions, questions.
On Tuesday AIM-listed ECR Minerals (ECR) put out a stinker of an RNS which crashed the share price. Yesterday we learned that the CEO is stepping down, effective at the end of this month. Did he jump, or was he pushed? And was Tuesday’s RNS completely truthful, and where does that leave the Nomad, Cairn?
ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) has seen us hoist the Red Flag on several occasions before (see HERE) but its FT15 results, released on deadline day (Thursday) take the biscuit. The company is, quite simply, a disgrace and its advisers (Nomad Cairn and disgraced Broker Daniel Stewart) should be ashamed.
China fraud Jiasen (JSI) may well be enjoying its last few days on the AIM Casino as we have news today of a shock delay to its results. Do you want to bet if they will appear at all?
After-hours last night (5pm) AIM-listed ValirX (VAL) announced a second batch of loan conversions under its £4 million (except it is up to £8.6 million) funding deal with Bracknor. It was at just 7.4p so it is no great surprise that the shares are down at 8.625p mid (last seen) having closed last night at 9.25p. But then there are those warrants….does anyone have the slightest Scooby of what’s going on there from last night’s announcement?
With apologies for missing this on Tuesday afternoon, I see that AIM-listed CloudTag (CTAG) has issued a rather embarrassing correction to its Monday RNS which announced a fundraising of £171,430 apparently issuing 5,357,143 shares to a new investor….at a price of 3.2 pence per share, representing a premium of 12.3 per cent. Over the mid-market closing price of 2.85 pence per share on 8 April 2016 (the previous Friday).
Our sincere apologies for missing the fact that ShareProphets AIM-China Filthy Forty play Jiasen (JSI) slipped out a board change RNS at lunchtime on Friday last week. I guess we were all in the Punter's Return at the time. It seems that Mr Curt Riley has resigned as a NED as from the end of May.
The following updates our China AIM 'Filthy Forty' table as at the end of February. Despite the utterings of the London Stock Exchange and George Osborne, more of the companies Geong, Geong, Gone? You bet…
The tobacco factory at Pietermaritsburg operated by CK Tobacco was at the hear of the Lonrho empire of David Lenigas which found itself emeshed in tobacco smuggling activities some years ago. Ownership of the site passed from Delta Tobacco to CK Tobacco but control remained with Afriag SA principal Yusuf Kajee who in 2011 applied for a new license for his operation from the South African Revenue Service, SARS. An explosive letter that has fallen into my possession shows why that application was refused.
Already booted off the Casino after is all became too much for poor old Cairn Financial to continue as Nomad and Broker to ShareProphets AIM-China Filthy Forty play JQW (JQW), it seems that the company called a General Meeting to dump three NEDs. An announcement on the JQW investor relations website details the passing of the resolutions, but what about the Notice of General Meeting? When did investors find out about it?
That Jiasen (JSI) is a total fraud is now beyond all reasonable doubt. I actually have more information on this company which the Nomad (Cairn) and AIM Regulation are sitting on but will they bother to do anything? So how has money been transferred from British investors to the fraudsters back in China?
Sirius Petroleum (SRSP) has just announced that one of its NEDs, Chris Neal, has closed a spread bet he had in the company's shares. Whatever.. But the RNS does not actually make sense.
Ok this is an easy question. In the RNSs released by ShareProphets AIM-China Filthy Forty member, Jiasen (JSI) the 'Notes to Editors' has helpfully told us the number of workers employed at its factory in Nan'an City, Fujian Provice (AIM-China Fraud central), China. For what it is worth I do not believe a word it says on this matter for reasons explained HERE but maybe Jiasen can guide us all?
I note that in the wake of our recent coverage (HERE), shares in AIM-China Filthy Forty play Jiasen (JSI) have cratered another 23% today (last seen) to 2.875p. There has been no news (so far) today, but one senses a bit of a rush for the exit going on.
We shall, for a moment, suspend our disbelief over the stated cash position of ShareProphets AIM-China Filthy Forty member Jiasen (JSI). Let us, for a moment, simply take the company at its word. Deeper analysis of yesterdays trading statement numbers shows a horror story unfolding, and casts a strange light on previous statements from the company. I suggest that what follows shows that Jiasen is toast, and uninvestable.
Our thoughts this morning are, naturally, with Yusuf Kajee of Afriag (AFRI) as he stands trial in the Pretoria Commercial Crimes Court on fraud charges totalling more than 100 million Rand. Of course Yusuf was one of the players in David Lenigas run LonRho which was sold five years ago only for the new owner to find that its accounts were grotesquely overstated.
Since he is in Dubai right now, Yusuf Kajee of Afriag (AFRI) may not have been told that the venue of his fraud trial on 20 January has been moved. I'm always happy to help the old smearer out so...
Yusuf Kajee of Afriag (AFRI) has yet to answer any of the questions I sent him over Christmas. Now here is another for him: "When were you going to tell us about your Court case in South Africa on 20 January?"
Throughout the Christmas period one of the two principals of AIM listed Afriag (AFRI) has trolled me on twitter, sending me almost 150 tweets accusing me of extortion, taking bribes, of being a coke addict, a drunk, having no qualifications other than serving pizza, of being mad - based on the fact that my mother killed herself- , etc. Yusuf also offered me a bribe to buy shares in Afriag. He has failed to answer critical questions about Afriag (AFRI) and today came up with the most lamentable excuse yet for not answering.
David Lenigas associate Yusuf Kajee of Afriag (AFRI) has spent the festive season smearing and trying to bribe me. He asked that I email questions. I did just that HERE. He has not answered. Instead he has again taken to twitter explicitly accusing me of having psychiatric issues caused by my mothers suicide. He tweeted just now:
Yousuf Kajee, the man who with tobacco smuggler Paul de Robillard, are the principal players in David Lenigas creation (AFRI) sent another 30 tweets overnight with some classic smears but also a bribe. Does Nomad Cairn really feel happy about its clients offering to bribe journalists?
Does anyone at AIM actually care whether David Lenigas tells the truth in any RNS statements any more? It appears that Nomad Cairn and AIM regulation do not give a FF. I shall now demonstrate to you a slam dunk and material untruth in an Afriag (AFRI) RNS.
Following THIS PIECE at the weekend we have had a communication from Mr Richard Bennett, the independent NED at ShareProphets AIM-China Filthy Forty member China New Energy (CNEL). To remind readers, we were wondering who or what was Sunbird Bioenergy Africa Limited - the outfit with which China New announced a MOU had been signed last week regarding projects in Zimbabwe and Zambia.
ShareProphets AIM-China Filthy Forty outfit China New Energy (CNEL) announced a memorandum of understanding with Sunbird Bioenergy Africa Limited on Friday, in relation to projects in Zimbabwe and Zambia. It also announced that the signing of any binding agreement would be treated as a Related Party Transaction since Mr Richard Bennett, China New’s sole independent NED (see HERE) is a director of Sunbird. I’ve already discussed the potential corporate governance Red Flag that I see from that (HERE) but what or who is “Sunbird Bioenergy Africa Limited”?
ShareProphets AIM-China Filthy Forty poster-boy JQW (JQW) has this morning issued a profit warning as the suspension of operations imposed by the Chinese authorities over advertising and pyramid-selling rule-breaches continues. Surely it is only a matter of time before the shares are suspended.
ShareProphets AIM-China Filthy Forty member China New Energy (CNEL) has announced a Statement re Press Comment which appears to raise a number of corporate governance issues. I wonder how the Nomad, Cairn, will react. The shares are flying – up by a whopping 186% last seen. Mind you, at 1.35p there is an awfully long way to go before the shares get back to the IPO price of 7p. But what is really going on here?
The spread betters could be having a field day. Four more of the ShareProphets AIM-China Filthy Forty now on Death Row following Nomad resignations in just four weeks. Three in the past week: if this continues the whole lot will have gone by Christmas. But back to the question – which will be next? For some clues, we just have to look at what happened yesterday. Anyone still holding Jiasen (JSI) or JQW (JQW) is, in my view, certifiable.
The Bulletin Board Morons want Jiasen (JSI) to sue me for libel. Well let’s make this easy for the Fujian fraudsters. “Jiasen is a fraud and its criminal directors have produced bogus numbers today – its shares are worth 0p.” There is no ambiguity there. Sue me for libel. What is the Chinese for “See you in Court bitchez?”
This is a question close to my heart as in The Steam Oil Production Company we have a good few barrels of undeveloped reserves, so I do pay attention to how the AIM market seems to value undeveloped barrels in the ground, especially those in the UK & Ireland.
Earlier today we demonstrated quite clearly (HERE) why Camkids (CAMK) has committed accounting fraud and why the statement of yesterday just does not add up. We have been saying that this company is a fraud for months and months and that is now clear to all. The local auditors of Camkids and the now delisted fraud Naibu acted for two other AIM stocks, one of which is Jiasen (JSI). It is also a fraud and we call for an immediate suspension of its shares as well.
On April 2nd AIM Listed Insetco (INC) announced that its Nomad and broker Cairn was to quit on May 2nd and that it was seeking a replacement. I warned you back then that you should sell as this company reeks of Terry Ramsden and is a dog. Well today came news that Cairn has now resigned with immediate effect and the shares are now suspended on the casino.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details changes to net short positions in the last week (red if short increased, green if reduced)...
I mentioned this in BearCast and it is just a bit of fun. Shares in Naibu remain suspended as the CEO of that fraud Mr Houyan Lin languishes in a China gaol cell. So which will the be the next China AIM stock to be suspended for whatever reason - natch fraud is the most likely reason, Vote now, results tomorrow
I could not sleep last night and Ive downed half a bottle of champagne so I am off to sleep - I'll answer emails in the morning. Before that: Worthington, Cairn, Lombard Risk, Mar City, Coms, Mopowered and China Norfolks
Yes you read the headline correctly. The CEO of an AIM listed company has been languishing in prison since mid-November and no-one has been told about it. Two Nomads, the non-execs, AIM Regulation you stand accused of contributing to the darkest hour of the Casino. Anyone who has bought shares since the incarceration you know who to sue. Surely heads must roll?
Oil and gas companies have suffered a three year bear market resulting from concern that US Shale Oil production growth would lead to oversupply. This has now come to pass, oil has plummeted from $115 a few months ago to $72. Oil companies have suffered a further sharp mark down and most trading at large discount to tangible assets.
The twitter and bulletin board morons are demanding that I admit that I a joker and admit that my accusation of lying against Astar Minerals (ASTA) was wrong. For the avoidance of doubt: “In its RNS of May 27th Astar Minerals lied.” If Astar disagrees it is free to issue libel proceedings and The Sheriff of AIM will see you in court bitchez. Astar lied and its directors are thus liars. But this gets better (unless you are a shareholder)