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.
Let's widen the scope of the Bulletin Board Moron of the week contest this time to include the most ludicrous claims made by those in Project Fear, the campaign against Brexit. Yesterday Lord Browne of BP infamy claimed that leaving the EU meant that we might see another Auschwitz (see HERE) - can you trump that for scaremongering? Or do you just want to settle for nominating a common or garden Bulletin Board Moron who did not stiff shareholders with a bill for his rentboy? Whatever..please post all entries in the comments section below. Last week's contest...
ShareProphets AIM-China Filthy Forty play JQW (JQW) has served up a new year message for its now lobster-potted shareholders. It's goodbye, so long, farewell as its AIM execution beckons first thing on Monday morning.
Salvador Dali would have struggled to come up with anything more surreal than the ISDX farce that is China Sports Development (CSDP). On Tuesday 8 Dec (at no-one-is-watching o’clock, natch) it was announced that in had come Mr Pui Lan Patrick Tsang as a director with immediate effect. Companies listed on ISDX have to have a Corporate Adviser (the equivalent of a Nomad on AIM). But this RNS was not signed off by one, yet there has been no announcement of the resignation of our very good friends at Beaumont Cornish.
Just when I think that the deadwood press can sink no lower in terms of churning out PR bilge along comes along Harriet Green of CityAM. She has just blown off Jonny Hon of Gate Ventures (GATE) infamy with a slavish profile making him out to be Asia’s equivalent of Pope John Paul 2nd. Does this bimbo want a job in PR or is she just too dim and/or lazy to do some basic research. Lucian Miers has sent her an email.
By now it is clear after the numerous scandals at New World Oil & Gas (NEW), Gate Ventures (GATE) and so many others that we’ve forgotten, that Roland “fatty” Cornish is officially London’s worst Nomad. His latest triumph is to allow shares in Golden Saint Resources (GSR) to continue to trade even though the company is insolvent and its Richard "Gollum" Gill crowd funded debt death spiral has only raised MINUS £1938.50. To celebrate this walking disaster story we have another caption contest. Don’t hold back…there is a prize.
As the crony capitalists enjoyed their Black Tie dinner tonight to celebrate the world’s most successful growth market, might they have paused for a moment to reflect on the horrific losses which have been seen this year on AIM? Fat chance. One number ought to have had the champagne going down the wrong way, and that is how much capital has been wiped out on the ShareProphets AIM-China Filthy Forty so far this year from delistings and suspensions caused by Nomad resignations. I promise you that number is a horror.
In my last piece on ex-AIM Casino Gate Ventures (GATE) HERE it was noted that despite an apparent market capitalisation of £343 million as reported by Gate’s new listing venue (BritDAQ), there were surely only around £12.5 million of assets. There were some filings to Companies House which I had expected to find, but (thus far) are missing. But there are some strange anomalies in the filings to Companies House by Gate Ventures regarding its recent placement of 1.5 million shares at £6 a pop. Apparently, there are no new shares in existence as a result. Something is not right here.
The ShareProphets China-AIM Filthy Forty reveals the most shocking statistics of losses for investors, demonstrable frauds and companies being booted off the Casino – see HERE. But which country of incorporation and which regulator has seen the highest rate Filthy Forty AIM-China expulsions?
Lucian Miers did a superb piece HERE which looked at some of the people involved in the ShareProphets AIM-China Filthy Forty poster boy, Gate Ventures (GATE). Gate, you may remember, had an extraordinarily short-lived existence on AIM in that it was given the order of the boot after even Beaumont Cornish found it all too much to represent this outfit as Nomad, and no-one else would either.
There are two very interesting firings today of Nomads. First Teathers Financial (TEA) has binned Roland “fatty” Cornish moving to Grant Thornton and secondly Quindell (QPP) has canned Cenkos (CNK), moving to Peel Hunt.
What to make of Gate Ventures (GATE)? We have seen all manner of shocking stuff on ShareProphets regarding this enterprise (see HERE for a full dossier). And today, 24 hours before the company is due to be booted off the AIM Casino after its Nomad, the saintly Beaumont Cornish, found representing this company all too much. Gate, of course, protested that it was talking to potential replacements but I rather doubt we will see it restored to trading in the morning, rather than being given the order of the boot. But what do we have HERE? An investment of £2.6m into a UK company called Infinity Creative Media Limited which is chaired, we are told, by Lord Michael Grade, no less. Is it true?
The growing scandal of blatant China frauds on AIM continues. What have the authorities done about it? Certainly, nothing to reassure. As I shall discuss, the London Stock Exchange is playing with fire.
In today's regular podcast I decide that I am not yet bored of niggling the felon Charlie Gibson so remind you again of his naughty antics (HERE) - his colleague really should not have been such a beastly apologist for crime last night (HERE). Then onto business. China is more of an issue than Greece. Then there are the China frauds and I predict bad things for Gate, Geong and Jiasen and call on Gate to fess up to is real Nomad position. Then onto William Sinclair, Torotrak and Motive TV. And I also discuss why I am not quite so mega bearish as you might think.
After Beaumont Cornish’s shock resignation as China fraud Gate Ventures’ (GATE) Nomad (this one is so bad even Fatty isn’t prepared to touch it with a bargepole), ShareProphets has obtained an exclusive transcript of the phone call AIM Regulation put in to ask a favour from one of its old favourites.