AIM-listed Filthy Forty play Aquatic Foods Group (AFG) has at last posted an RNS. Given that its FY16 accounts are overdue by almost 6 months, and its interims by heading for three, you would have thought we might have an update on that. But no: instead the resignation of Mircle Ching Chai Yap was announced. This chap has a spot of form….
I started the PLC death list in June 2015 with 21 members. The aim is to pick stocks that will either go bust or get slung off the AIM Casino. Each departure requires a nreplacement. With nine new entrants today 40 names have joined this select group. So far there have been two outright failures on my part, Mariana Resources (MARL) and Jersey Oil & Gas (JOG). There was one volte face but I was ahead at volte face point and it was a great call both short and long - Wandisco (WAND), two near kills, InternetQ (INTQ) and Monitise (MONI) and thirteen slam dunk kills: Cloudtag (CTAG), Worthington (WRN), African Potash (AFPO), Jiasen (JSI), Camkids (CAMK), China Chaintek (CTAK), JQW (JQW), Afren (AFR), Daniel Stewart (DAN), Sefton (SER), Outsourcey (OUT - boy I enjoyed that one - Afriag (AFRI) and Auhua. So 13 out of 31 = 40%+ - not bad eh? Arguably that is 15 out of 31 - almost 50%! That leaves:
As the year draws to a close it is only natural that we look back on the past twelve months. And it has been twelve months of achievement. It is a great achievement in that our writers have continued to write exactly what they want without any editorial interference. So Cynical Bear & Gary Newman have knocked shares I own. So what? We really do support free speech. And it has been a year when we have "dealt with" more frauds and lies on the AIM casino and the main market than ever before. That really is the USP of ShareProphets.
On 13 June I started my 21 stock Death list portfolio - 21 shares heading for zero or being booted off the market - see HERE. Until now 27 stocks have entered the portfollio and I am claiming ten kills - not bad eh? Today I go over the four kills since the last update and add four new entrants to the portfolio. Do the Cloudtag morons really want to bet against me with my current kill rate? I review all 21 now current members. The stocks mentioned are: Worthington, JQW, Jiasen, Camkids, China Chaintek, Jersey Oil & Gas, Mosman Oil & Gas, Monitise, Outsourcery, Magnolia Petroleum, Arian Silver, Sareum, Avanti Communications, Daniel Stewart, Mariana Resources, Sefton Resources, Golden Saint Resources, Sovereign Mines of Africa, Afren, Wandisco, Tungsten, Blur, Auhua, Afriag, InternetQ, Servision, Igas, Cloudtag, African Potash & Slater & Gordon.
Did you lose money on any of the Fujian Four? We hope that you took our warnings seriously and did not but now there is hope if you ignored us and lost out. Or is there? I refer you to the website of China Resolutions which claims that it may get your money back.
The 21 stock Death List Portfolio is now seven months old and now has its sixth kill, Daniel Stewart (DAN). We replace each kill with a new candidate for death so until today 26 entrants had seen five recorded demises. But Daniel Cesspit is the sixth (from 26) and so we need a new target for death, that is to say for seeing its shares booted off the AIM casino or going to 0p.
On 13 June I started my 21 stock Death list portfolio - 21 shares heading for zero or being booted off the market - see HERE. On 23 August I got my first kill and so Afren (AFR) was replaced by Daniel Stewart (DAN) HERE. I have now had four more kills and nearly all those that have survived have seen their shares tank. Now I update with 4 new entrants given that I have had four more kills and I review the original entrants that cling on. The stocks mentioned are: Worthington, JQW, Jiasen, Camkids, China Chaintek, Trap Oil, Mosman Oil & Gas, Monitise, Outsourcery, Magnolia Petroleum, Arian Silver, Sareum, Avanti Communications, Daniel Stewart, Mariana Resources, Sefton Resources, Golden Saint Resources, Sovereign Mines of Africa, Afren, Wandisco, Tungsten, Blur, Auhua, Afriag and InternetQ
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.
In Part 8 Graham Chester examines how the advantages of gaining an AIM listing are marketed to Chinese companies, and the help they are offered to get to market. The marketing material contains a few case studies: oh dear…..look at them now!
AIM has this morning announced the quiet execution of the fourteenth member of the ShareProphets AIM-China Filthy Forty, Camkids (CAMK). Still on Death Row we have Geong (GNG) which tomorrow will have been without a Nomad for a month so we expect another execution at 7am on Monday. Also scheduled for lethal injection shortly is China Rereun (CHRR) which lost its Nomad 24 days ago, and Vmoto (VMT) is going for a "best interests" delisting. This reads terribly badly for the LSE - and not a single one of the Nomad resignations has been explained.
In Part 1 Graham Chester examined the role of the Reporting Accountant when bringing a China play to the Casino. In Part 2 it is time to look at some of the players involved. What better place to start than at Team Stevens, now at the fine firm of Crowe Clark Whitehill – auditor to quite a portfolio of Filthy Forty companies, and a few more besides. Watch the scores-on-the-doors here in terms of share price performance: it is shocking stuff.
The Globo (GBO) scandal brings up the issue once again of what an auditor is there to do. Yesterday’s admission that, essentially, Globo’s accounts could not be relied upon suggests that there has been a massive failure. Auditor there: Grant Thornton. But Globo is by no means the only case of investors being misled as to the true picture in a company’s accounts.
Update: AIM-listed Galasys is not one of the ShareProphets AIM-China Filthy Forty although it should be. Registered in Jersey but operating in Jiangsu Province (as per JQW) Galasys (GLS) looks to be an AIM-China stock to have slipped our net. Thank you to Prophet Yomo for pointing out the small slip-up. This morning it announced the departure of its Chief Financial Officer, who is stepping down from the board and leaving the company. A non-board interim CFO is being appointed. We are also told that a NED has already left the board. No explanation is offered for either departure and, indeed, we are not even told the effective date on which the CFO goes. Oh dear – is this the first step on the China-Norfolk path to oblivion being taken by Galasys?
You may well remember my six part acid trip with scumbag a'hole dirty tricks specialist lawyers Pinsent Masons HERE. I had almost forgotten but last night I was sitting in Free Speech & Liberty Pizza when a white rabbit wandered in wearing a T-shirt saying "Chris Oil - Sefton's saviour". I looked up and the white rabbit handed me a sugar lump. Heck. Why not. I'd had a good day. Camkids was on its way to AIM casino death row so I said "thank you", forgot about my diabetes and swallowed. Shroooooooooooooooooooooooom.
Another set of numbers from the 14 ShareProphets AIM-China Filthy Forty which were due to report by Wednesday of this week has been chalked up. MoneySwap plc (SWAP) reports a full year (to end Mar 2015) loss of $3.2 million. Against a market capitalisation of £11.1 million (source: ADVFN) that doesn’t look too clever. But it gets worse, because there is an audit Emphasis of matter with regard to sign-off of the company as a going concern: the company will be required to raise funds. Neon signs: placing ahoy!
Camkids (CAMK) was a fraud but the shares carried on trading as morons and followers of Sith Lord Zak Mir (see HERE) reckoned they could game the market with short term trades. Then today the Nomad quit and the shares were suspended at once and they won't be coming back. All the short term traders can now sing along with Nigel, Ben, young Steve and myself to the ShareProphets AIM Casino theme song "All the Money's Gone" by Babylon Zoo. So who is next?
And it is another kill for the Sheriff and Deputy Sheriff of AIM – China fraud Camkids (CAMK) is now on death row with its shares suspended as Allenby this morning quit as Nomad with immediate effect. The lying tossers at Camkids could not even tell that straight – the RNS stated “Change of adviser”. It meant, the adviser had quit as it finally accepted this was a nailed down slam dunk fraud. It gets worse.
It was a storming week last week on the ShareProphets AIM-China Filthy Forty. But there is more to come, for Wednesday sees the end of the month and the reporting deadline for any company with a half year to the end of June, or a full year to the end of March. So what is there to look forward to?
It would appear to be an interesting exercise to see whether from a charting perspective the AIM Casino China Filthy Forty are indeed as filthy as they appear. So let's start with one which looks to be heading towards death row.
It is London Buses time once again here on ShareProphets.com. A quiet few days on the AIM-China Filthy Forty and then all of a sudden three dreadful RNSs all come at once. Nine Filthy Forty members have already departed stage left. Three more are on death row following Nomad resignations – China Chaintek (CTEK), ARC Capital (ARC) and Global Market Group (GMC) which receives its last rites today. And now today two further China plays announced dire news, JQW (JQW) and Vmoto (VMT) as well as a potential bidder walking out on Geong (GNG) in the wake of a few issues with revenue recognition. No doubt the auditors there (UHY Hacker Young) will be shown to have acted with all due care.
This is the first podcast using the Audioboom (BOOM) platform - if it sounds rubbish/does not arrive blame the IT klutz me not Rob Proctor. In today's offering I look at Haike Chemical (HAIK), Jiasen (JSI), Camkids (CAMK), ValirX (VAL) and a few other matters en passant.
Last month we launched the ShareProphets Filthy Forty – companies with their main operations in China, registered overseas (apart from a handful in Hong Kong) and listed on AIM on June 1 2014. We noted that the overall performance was astounding: average loss from IPO was 43%, and nine had already been booted off the exchange. An attrition rate of 22.5%. The reasons varied between Nomad resignations (5), being booted off for failing to publish accounts (2) and voluntary delistings (2).
I arrived back in Bristol after a long journey yesterday and opening my post it was just like Monopoly (in a good way). To celebrate I look at the markets in general, comment on Scancell, predict a few no-one is watching O'Clock announcements tonight and then focus on Camkids but epecially JQW which sent out a big China fraud Red Flag today.
AIM listed China fraud Camkids (CAMK) effectively admitted that its stated cash was not really there with its ludicrous explanation of how it was set to disappear (HERE) but now let me show you why its reported profits are also 100% made up.
71 days ago it was world gin day and to celebrate I came up with 21 Companies that I thought would be brown bread by December 31st 2016, either delisted or bust or both - the Death List HERE. So far Afren has lived up to expectations and so I replace it with a new death list entrant in today's podcast. It should be listened to in conjunction with my macro stockmarket crash bearcast of yesterday HERE
The Bear shares portfolio I outlined for summer on 19 July HERE is doing pretty well i.e tanking. Yesterday I outlined my reasons for continuing to remain bearish at a macro level HERE and I also refer to an excellent piece on Zero Hedge HERE. Then I return to the bear portfolio which is:
It seems like ages ago that the then Chairman of the London Stock Exchange, Mr Gibson Smith stared at me disdainfully at the police-state plenum-style AGM and in answer to my question as to whether having AIM was really worth the sweat, given its minimal contribution to Group profits compared to the colossal reputational damage it was wreaking, trotted out some feeble rehearsed platitudes about the importance of the AIM market, the quality of the Nomads, and lack of wholesale fraud in the AIM listed China-based community.
The launch of the ShareProphet's China Filthy Forty is the kind of thing that shows why the financial press fear ShareProphets. Clear and devastating. It sums up ShareProphets as a whole. It also demands an informed readership. Your average ThisIsMoney.co.uk reader isn't going to come across a chart of 40 Chinese companies which IPO'd on AIM, shares in which are almost all underwater, and understand the relevance. This sometimes puts ShareProphets in a bind, where we seem to be wonks speaking to swotters.
We today launch the China AIM Casino Filthy 40 – a way of tracking what a fraud ridden mini cesspit this is. The findings and the tables below will truly shock you and shows what fantasists the idiots running the London Stock Exchange are.
Jersey Finance is terribly keen to get Chinese companies to register in Jersey and list their shares on the London Stock Exchange, notable on the AIM casino. What a marvellous set-up they offer: it is the jurisdiction of choice for corporate entities seeking to list, one fifth of Chinese companies listed in London are registered in Jersey, there is political and economic stability, a sound regulatory reputation and, of course, Jersey Finance has a representative office in Hong Kong (since 2009) just to ease things along. What’s not to like?
Thanks for all the entries to the China fraud caption contest of yesterday. That was such fun we have a new contest (deadline for entries midnight Saturday) in honour of the useless tosser Xavier Rolet, the garlic munching imbecile in charge of the London Stock Exchange.
Crowe Clark Whitehill is the UK auditor of a number on AIM casino china frauds and its associate in Fujian, Crowe Horwarth Associates really gets fingers dirty. We know that the blatant long term fraud at Sorbic (booted off the casino), Naibu (booted off the casino) and Camkids (soon to be booted off the casino) as well as at Jiasen and JQW totally escaped its attention. In light of that we bring you the latest Financial Reporting Council review of Crowe.
The deadline is Sunday. All you need to do is supply a suitable caption for the picture below. In honour of Allenby Capital and Cairn Financial which continue to act for patent frauds on the AIM casino we invite you to do your worst. Post in the comments section below.
Yesterday, bang on the button of market closing time, AIM-listed China Chaintek United Company Limited (CTEK) enhanced its credentials for member ship of the Norfolk province of AIM with a trading update. This was nothing to do with keeping investors updated as the numbers are sheer fiction. It was a panicked attempt to stem a share price collapse.
Auditors Crowe Horwath Associates have performed the local audit for five China AIM casino companies and at three we have already seen wholesale fraud as purported cash balances either were made to disappear or never existed at all. The Financial Reporting Council, FCA and the oxymoron that is AIM Regulation need to act NOW and shares in Camkids (CAMK), Jiasen (JSI), and Asia Ceramics (ACHP) must be suspended at once.
Shares in China AIM Casino fraud Camkids (CAMK) should be suspended now. If Nomad Allenby had any decency it would quit at once. The stock is again plunging today (off 16% at 4p) and even the thickest Bulletin Board moron is not buying. So when will the shares be suspended? It is time for a reader poll. Deadline for entries midnight tonight or the suspension time whichever is sooner:
Yesterday 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 three other AIM stocks, one of which is JQW (JQW). The other was Sorbic International, a now delisted fraud. JQW is also a fraud and we call for an immediate suspension of its shares as well.
I warned folks about Zedex on 16 September 2014 – it is the unregulated boutique that specialises in floating frauds and investment car crashes from China on the AIM Casino. I now update that piece in light of recent events at Camkids and Naibu, both proven Norfolks. I warn you, next up for share price evaporation is China Chaintek (CTEK).
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.
Earlier today Nigel Somerville and Tom Winnifrith 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. Now it is time for Nomad Allenby to show principle and quit on the spot and if it is so desperate for fees that it will not for AIM Regulation to force a suspension. We explain why in this open letter:
Something just does not add up with AIM listed (pro tem) Camkids (CAMK). Tom Winnifrith and Steve Moore have already considered the credibility of yesterday’s RNS HERE and pronounced Camkids, from Fujian Province in China as a prime candidate to join the club from the Norfolk province of AIM. We’ve been looking at it from a different angle: the annual report and accounts. What we find is shocking.
Former ‘Investors Chronicle’ favourite AIM casino China fraud Camkids Group (CAMK) has released a more than 600 word RNS, which can be almost summed up by a 1999 song from Wolverhampton band Babylon Zoo; ‘All the Money’s Gone’… The shares are crashing and if Nomad Allenby had any integrity it would quit. This is a total Rum n'Coke.
China fraud Jiasen (JSI) floated at 82p a year and six days ago. The shares are now 4.5-5.25p following news that the Chief Financial Officer Kian Tan is set to walk the plank within weeks. The shares now trade on an historic yield of almost 50% and at an 80% discount to stated net cash and on a PE of 0.3 if you believe the numbers. I do not. They are pure fiction. Jiasen is circling the plughole of AIM casino death as I flagged up again yesterday HERE.
Okay, the sabbatical really does start this week so maybe not that many bearcasts from now. But for today I explain why the market will be harder for non profit stocks and on that basis I start with a reference to my 21 stock death list of last month (Afren looks to be the first to fall) HERE but also refer to the excellent must read piece by Lucian Miers yesterday HERE. And then I launch into my 10 top shorts for summer. Companies mentioned are:
Global Lock and Safety (GLOK) was incorporated in the British Virgin Islands in December 2009 and listed 250 million shares on AIM on 21st October 2010, with Allenby Capital Limited as the nominated adviser and broker. The future looked bright with the then CEO claiming, "We are already one of the leading security providers in China and we know of no other providers of this type of comprehensive integrated security service in the Peoples Republic of China.”
What a great day. Lord Michael Howard tightens the noose for Rob Terry and the Quindell (QPP) fraudsters HERE and then China fraud Jiasen says there is no reason for its share price fall. Er...I think we can all think of one can we not? Then on to JQW, China Chaintek and Camkids - watch out fella's the Sheriff of AIM is gonna get you. Ditto Phorm which is next up followed by Iofina. there is comment on Premaitha. Then onto how I dont take bribes from companies to write nice things either directly or via UK Investor Show as a Northern slum dweller seems to think. Finally there is an expose of the POS that is CIC Gold and on the scumbags behind it.
At last the spineless crony capitalist pig Roland "fatty" Cornish of New World Oil & Gas infamy, has quit as Nomad to China fraud Gate Ventures (GATE) and hence the shares have been suspended at once. The shares were listed in March and via fees and from exercising warrants and flogging shares - even though the prospectus said he could not exercise for a year - fatty has trousered c£400,000 but now even this greedy pig, devoid of principle has had enough.
It is world gin day but I have not started..yet. Ahead of that this is a PLC Death List podcast special. I list the 21 PLCs that are on my list to be delisted or go to 0p by December 31 2016 and explain why. Enjoy...
AIM casino listed China fraud Camkids (CAMK) has helpfully published an English language transcript of a Q&A from its AGM yesterday. There are moments of sheer comedy but also a killer admission which should tell you this is heading for 0p.
Camkids is capitalised at £12.5 million. It claims to have increased its cash pile by £9 million to £40 million last year and to be profitable and generating cash. Yet it cannot afford a £1 milluion dividend. Sound a bit Naibu-esque? Oddly it is from the same China province (Fuijian) and is engaged in the same business, fraud. Ooops we meant making shoes. And there are still folks who think its shares are cheap. In their honour we bring you this week's Bulletin Board moron contest.
Mr head in the sand, I see no China frauds on AIM, Mr Xaviet Rolet is today crowned Bulletin Moron of the week Despite fierce competition from the LSE Asylum. Nigel Somerville spotted this classic statement of denial from Mr Rolet:
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at Camkids, China Chaintek, Optibiotix
Naibu, Jiasen and over in Germany Joyou, it is all happening on the China fraud front. The London Stock Exchange's attitude and inaction is a disgrace. If you still own shares in JQW, Camkids, Jiasen, Chaintek or Asian Citrus you are bonkers. A short bearcast covering the day's events and a meeting with a feral cat.
In November of 2014 the Qualifying Executives in the Nomad team at Daniel Stewart, led by China fraud specialist Mr Paul Shackleton all quit and it was forced to tell those AIM Casino companies it represented that they needed a new Nomad or would be slung off AIM. I can now reveal that the London Stock Exchange then secretly screwed ordinary investors in order to avoid its own humiliation.
Now on my 3rd PC in 10 days forgive the two minutes silence at the end of this bearcast...I was trying to say, more on that to follow but this little horror of a machine froze on me. Anyhow this podcast covers Reach4 Entertainment, Sefton, Hunter Resources, Camkids and the other China Norfolks, New World Oil & Gas and the growing sense of doom here in Greece.
At this point I move away from Oscar Wilde, in the case of Camkids (CAMK) to lose 2 NEDs looks like… a fraud unraveling. Last week it was a British NED who walked. Today we hear that Mircle Yap , a Chinese NED, will be leaving after the AGM on June 11.
Hi apologies for the podcast delay, after a long trek down to the Mani I fell asleep. In this bury bad news on General Election day podcast I look at news from Red Rock Resources, African Copper and a laughable statement from SCS Upholstery. I also cover the China frauds, specifically Camkids and Naibu but also Sorbic, JQW, China Chaintek and Jiasen and have a message for Alan Green about a motorbike upgrade. And I cover New World Oil & Gas
The London Stock Exchange denies that there is a problem with China AIM frauds. What planet is patrician twit Chris Gibson Smith on? Well it is only dirty little people (aka private investors) who are being cleaned out so who gives a FF anyway, Chris old boy? This brings us to Sorbic (SORB) which today admitted that its CEO has stolen all its money, In fact I reckon it’s worse than that.
Even the thickest mothers on this planet (that is to say the AIM regulation team) must be spotting a pattern by now as another AIM listed China fraud (Sorbic) bites the dust.
I am in a good mood today as I launch into a podcast tirade. Under fire are: Crap Oil, Sorry Trap Oil, Edenville, Condor Gold (placing ahoy), Plethora (ditto), Mosman (ditto), Matomy Media, blinkx and then a full frontal assault on Camkids - come on Nick Harris at Allenby Capital be a hero, you know what to do
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
A pretty wide ranging podcast today but the theme is denial with a dose of China rubbish. I cover Worthington, Afren, Coms, Edenville Energy, Solgold, Craven House, JQW, Jiasen, Qihang, Naibu, China Chaintek, Camkids, Beowulf and more.
I revealed yesterday how Houyan Lin of Naibu (NBU) has been rotting in prison since November 2014 yet his AIM casino shares carried on trading till January 9 2015 and there has been no RNS. Despite this – as I revealed a week or two back, AIM is working to get more China companies to list on the casino. Think again fools, now I can tell you about a second AIM CEO from China who has been arrested.
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?
I cannot resist making a joke I made earlier about getting past passport control. That and a favour asked of all Bearcast listeners starts today's podcast, delayed because the internet connection from Kalamata is painfully slow. When we get there I shall discuss Naibu, Camkids, China Chaintek, Northern Petroleum (a genuine request to its lamentable board made in the spirit of friendship becuase I am such a nice guy), Alecto, Afren, Frontier Mining, Motive TV and Nighthawk.
The statement today from Naibu (NBU) is comedy. This is such a slam dunk fraud I cannot see why we bother pretending otherwise. The tragedy is that with the shares still suspended investors face a 100% wipe-out. I turn to the statement and also to the roll of shame and how this MUST BE CAREER ENDING for some folks if AIM Regulation is to retain any credibility. Are you reading Marcus Stuttard, the phoney “Sheriff of AIM”? The Real Sheriff has a message for you too. Let’s start with the statement which comes after a suspension on January 9 as the NEDS sough clarification of Naibu’s financial position.
I stand accused yet again of insulting the entire investment community and of delighting in folks losing money. Au contraire, I delight when Bulletin Board Morons lose money but that is just a small group of those who use BBs.
I start - as I would always do when I err - with an apology and correction on Scholium as per yesterday's Bearcast. I then go onto high handed CEOs who say they do not care about Private Investors and get a big come uppance. Step forward the little shit who runs Northern Petroleum, Keith Bush. I comment on Inspirit and Ambrian and going back to oil I disagree strngly with Ben Turney (HERE), Gulf Keystone remains a stonking sell. I also touch on Igas, Afren and Hurricane. En passant I touch on the china frauds like China Chaitek and Camkids.
Both Maribel and I are feeling a little fragile after a night of boozing at The Free Speech & Liberty Pizza House. And so life is a bit of a struggle today for both of us. Anyhow this podcast covers insider dealing, Afren, TXO, Camkids, Northbridge Industrial, profits warnings, Asian Citrus and Creston
It is now three weeks since shares in Naibu (NBU) were suspended from the AIM casino pending clarification of its financial position, notwithstanding the fact that it claimed to be profitable, cash generative and to have net cash of £32 million – a multiple of its market cap. In light of this I have again written to Big Ray Zimmerman of ZAI Corporate Finance, Nomad to this fraud because the implications of the fraud are severe for not only Naibu but also ZAI, Daniel Stewart (DAN) and the other members of the Fujian four – China Chaintek (CTEK), Camkids (CAMK) and Jiasen (JSI). Plus for good measure JQW (JQW).
I start on the matter of free speech and attempts by the Jihadists of the QPPSAG to deny that. We won a big victory over the morons yesterday. In that vein I urge those who enjoy Bearcasts and who support free speech to book their seats for UK Investor Show on April 18 in Westminster now HERE. In the podcast I cover Mosman Oil & Gas, Rambler Metals, Red Leopard, Beacon Hill Resources, Management Resources and then go in big time on Asian Citrus but more especially on Camkids - target price 0p.
Shares in the fraud Naibu (NBU) were finally suspended on the AIM casino on 9 January 2015 after the NEDS woke up and requested clarification of the financial position of a company claiming to be cash generative and drowning in cash. How long does it take to check this out? What next?
The suspension of trading in shares in China fraud Naibu (NBU) will make bear raider Lucian Miers a stack of cash as he was a long time short. So who is next?
As predicted just days ago, I see that the non-executive directors at the squalid China Fraud Naibu (NBU), “experienced” accountant Giles Elliot and “experienced” lawyer David Thomas have extracted their heads from their arses and had the shares suspended.
In this short end of week podcast I look at the issue of sub critical mass companies on the AIM casino starting with Hunter Resources but en passant looking again at the POS enterprises that are Tern and Touchstone Gold. I look at housebuilders, Qihang Equiment and the three remaining Fuijian Norfolks: Camkids, China Chaintek and Jiasen
Really just a few matters on the agenda in this special prompted by the suspension of shares in Naibu (NBU) today. I have been calling this out as a fraud for a year. I win. I look at the read across to China Chaintek, Camkids and Jiasen, to what it says about ZAI Corporate Finance and its other clients and what it says about any other stock I call out as a fraud. I look at Quindell, rumours about a new chairman, PWC and the fact that it too is a fraud. I also have more to say on the matter of free speech.
The working year starts a proper and I am in a good mood which is bad news for the low life on the AIM Casino. On the agenda today: Enegi Oil, LGO Oil, Iofina, Mosman Oil & Gas, oil stocks, Chris Oil & his share tips, Naibu, Jiasen, Camkids and China Chaintek ( the China Norfolks), Quindell, and - in some detail - Tern.
Anyone owning a Chinese based AIM stock is certifiably bonkers. That is especially the case if it is based in Fujian Province, a small part of the PRC which has specialised in listing frauds on AIM, the Frankfurt Exchange, the TSX and NASDAQ. The Fujian four on AIM are: Camkids (CAMK), Naibu (NBU), China Chaintek (CTEK) and Jiasen International (JSI) and for all four my ultimate target price is 0p. But I feature Jiasen today at 42.5p as a sell of the year.
I am in a good mood today. I shall be seeing the Mrs soon and almost as good I get three kills: Quindell, Maple Energy and Cupid. All three are covered as are the next raft of kills: Naibu, Pressfit, China Chaintek and Camkids. Also on the agenda are Enegi Oil and Petropavlovsk
Daniel Stewart earns £6,250 + VAT pcm for being Nomad and broker to China fraud Naibu (NBU) – it needs the cash. But its latest note from respected analyst Simon “Wincey” Willis shows that even it has had enough. All forecasts, recommendation and target price have been withdrawn. It seems that even Daniel Stewart is alarmed by this total joke for reasons I explained yesterday HERE.
Tonight we party. I am a very happy bear. The Real Man Christmas party is now a V Party. that is V for Victory and V for Vindication. Quenron (QPP) is on the ropes. In today's podcast I cover Quindell, President Petroleum, Tern and my old "mate" Angus Forrest, Camkids and China frauds, Cenkos, Forte Energy, mining juniors and more
At the weekend we asked you which of the most worthless POS and in some cases fraudulent stocks on the AIM Casino would be the first to go to 0p or be suspended. It ended up as a three horse race with all three front runners having just one thing in common – the involvement of Daniel Stewart, always a red flag.
Which is the worst stock on the AIM casino? The one that is heading to 0p and/or suspension most quickly? What do you think? Vote now in our reader poll. Quite simply which of the following stocks will be worthless first. The ones marked (F) have engaged in fraud and the ones that are marked (D) suffer the massive red flag that is Daniel Stewart involvement, past or present.
I have noted before the remarkable take of Ultrasonic a China shoe fraud from Fujian listed in Frankfurt. It is of note of you are stupid enough to own shares in AIM Casino listed Naibu (NBU) and Camkids (CAMK) which are also shoe plays from Fujian and also frauds.
On Monday we asked you for suitable captions for the picture below. You can see the full range of entries HERE but the winner is:
Today Camkids (CAMK) has followed its fellow AIM casino Fujian shoe related China POS heroes Naibu (NBU) and China Chaintek (CTEK) in cutting their dividends despite claiming to be hugely cash generative and drowning in cash. As such we bring you the Monday Caption Contest. Please post your captions in the comments section below:
Another day and another Chinese POS on the AIM casino has cut its cash dividend for reasons that one can only explain in one way. Today’s little shocker is Camkids (CAMK) a shoe producer from Fujian like Naibu (NBU) and those German listed Chinese frauds.
Shares in Quenron (QPP) plunged last week to close last week at 136.5p. They are now more than 75% off their highs. Where do we go next? Down obviously. The question is when not if they hit 0p. And here’s why.
I am indebted to reader DiscoStu for pointing out data from the LSE website showing what other stocks are held by investors in some of the companies I am less than kind about. It is sort of a Bulletin Board Moron nightmare portfolio. Why are these fools so attracted to POS stocks?
This article appeared in the Chinese publication Caixin Online at Christmas 2012. Staff reporter Qu Yunyu has done a superb job. It should be required reading for the crony capitalists round at Daniel Stewart, Allenby Capital and Abchurch Communications as well as AIM Regulation and for anyone mad enough to hold shares in Naibu (NBU), Camkids (CAMK) or China Chaintek (CTEK). It is explicit about what has gone on. If you own shares in any of the Fujian companies on the AIM Casino you should sell them all at once. The article – with a few choice sections in bold from me - reads:
Last week we revealed the story of Ultrasonic, a Chinese shoe company listed in Frankfurt where the CEO and COO appear to have stolen all the money and done a runner. It comes from Fujian like AIM Casino listed shoe companies Naibu (NBU) and Camkids (CAMK). Now let me introduce you to Ming Le and Camkids shareholders please take note.
Okay its time for the Bulletin Board Morons to apologise to me YET AGAIN – today’s victory is Monitise (MONI), shares in which have crashed to 31p as Visa has said that it wants out. My 10p target price stands.
I do hope that someone round at Daniel Stewart, Nomad and Broker to AIM listed China fraud Naibu (NBU) has learned to read Chinese since the crony capitalists FAILED to do adequate due diligence on this POS before it listed. Because I have a little press cutting for you chaps from 2008. If you are not too busy spending the £600,000 you have made in fees from Naibu in the past 18 months you need to read it and then resign at once as Nomad and broker and have the shares suspended. This is a bombshell.
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.....
The recent passing of its interim dividend by Naibu (NBU), which would have involved an outlay of £600,000 against claimed profits of £20 million and claimed net cash of £30 million has prompted accusations of fraud and skull doggery at the Chinese sports shoemaker and put the spotlight on other China frauds that might be lurking on AIM.
Frigging hell how many warning signs do investors in AIM listed China stocks need? Today’s shocker comes from Germany where Ultrasonic – a shoe maker – has seen its shares crash by 79% in just one day. But there is a read across to some of our AIM listed frauds.
I noted in my earlier article HERE how Zedex Capital is involved in listing a stack of shit companies or indeed outright frauds on AIM. That is why anyone holding shares in Naibu, Camkids, China Chaintek, Asian Citrus and Asia Ceramics which are all, pro tem, listed on the Casino should sell now. If you doubt me here is another warning: Asia Distribution, what happened next.
I think that it is now 100% clear that Naibu (NBU) is a fraud. It is only a matter of time before it goes to 0p or is booted off the AIM Casino. But where did it come from and is it unique? Meet Zedex Capital. What follows will shock you. It says so much about how corrupt AIM and the City advisors working on it have become. It is a scandal.
It is now quite clear, after my shock revelations today HERE, that Naibu (NBU) is a total Norfolk and is going to 0p. And this is only the latest of a number of Chinese based Norfolks to list on the AIM casino. Good Chinese stocks list in Hong Kong or Shanghai, bad ones on NASDAQ and total stinkers and outright Norfolks on AIM. Well that is my view - hence the advice to dump shares in Camkids (CAMK) and China Chaintek (CTEK) as well as Naibu. What do you think? Which of the following statements most closely reflects your views:
The Naibu (NBU) Norfolk is collapsing as we speak. Last seen the shares were at 31p and target price is 0p. Will the Naibu owning Bulletin Board moron who called me Winnifraud 2 days ago on the ADVFN Naibu thread for questioning this Ponzi please apologise now? Is he right now filling his boots or filling his trousers with the brown stuff? I have no sympathy for this cretin whatsoever. He was warned… So which are the next two China AIM casino listed stocks to slump> Here are two suggestions.
This is a truly brilliant spreadsheet from Paul Scott, the person I rate as the UK’s top share blogger and an all-round nice guy to boot. In saying all round this is not a reference to his figure although…. Paul does not write for this site and is fiercely independent in his views but he has graciously allowed me to publish this anyway. And so especially for followers of Quindell (QPP), Globo (GBO), Outsourcery (OUT) and a good few others…