You may remember that, on November 23, the Sith Lord Zak Mir put out an RNS to say that he had teamed up with the scumbag spivs at Novum Securities to announce that the media company he had created, Lift Ventures, was to raise £1.7 million at 3p and to list on the Aquis lobster pot. I explained what a top of the market rum ‘n’coke this was at the time HERE. Anyhow…
Sub-Standard-Listed Cloudbreak Discovery (CDL) added yet more Red Flags to its profile this morning on the release of an RNS at 7a this morning entitled “Final Results for the Year Ended 30 June 2021”. Just for a start, releasing FY numbers during no-one-is-watching week as investors are away from their desks between Christmas and New Year is an automatic Red Flag. But the RNS did not contain the results – only a management summary, telling the reader that “A full copy of the results is available on the company website”. Except at 7.30am this morning, that was not the case.
How on earth has any broker in London not managed to make out like a bandit, or should I say broker, during the past two years? It almost defies belief given how every company on earth seems to have done at least fund raise earning stacks of 5% commissions for the bandits. I mean brokers. But somehow the gutter dwellers at Novum Securities have managed to post another whopping loss as you can see below.
I start with the frustrations of a visit to Tesco (TSCO) Wrexham. Piss poor customer service. Then I look at Manolete (MANO) where I smell more trouble ahead. Then I move onto bull market madness and how it will end in tears for my mother-in-law, Elon Musk, Tesla, Bitcoin, Jonathan Bixby, Mike Edwards, NFT Investments, Clarify Pharma, Argo Blockchain (ARB), Novum Securities and Uncle Tom Cobley and all.
I have a few words about the disasters that are Deliveroo (ROO) and Parsley Box (MEAL). Okay the latter is a duff IPO and a disaster in waiting. Then I move onto NFT Investments, an IPO on the way from First Sentinel and the scumbags at Novum Securities. Hold your nose and brace yourself for just how opportunistic this is. I am only half kidding about Becks.
I had thought that Gavin Burnell, the broker who used to work at disgraced Beaufort Securities and who floated and sat on the board of the fraud Globo, making a packet from fees and share sales, was no longer working in the City, that Novum Securities had parted company with him when the FCA refused to re-authorise him. But...
My bearcast yesterday forced Pathfinder Minerals (PFP) and the scholars and gentlemen who run Novum Secutiries to issue a statement today. Unfortuanately the RNS of this morning is not true, it is misleading and deceptive and shows the desparation of Novum to cover up what really happened. I shall have a bombshell on Scrotum Securities later today but first I explain why what hapened and the attempted cover up is a total disgrace.
I had a long chat today with my stockbroker, City veteran A. Laiker Esq on what it is like working from home. He loves it. I sense so do many others. I have loved it for years, being essentially a miserable and anto-social bastard. Companies will also love this new trend in the post Covid era and i discuss its implications. I look at Intu (INTU) and what an awful position it is in. The shares are a zero but discuss the whole sector. I run through the latest rumours on Ascent (AST), reveal that it is Novum Securities that has welshed on a £200,000 commitment but report another (bad news) rumour that Ascent needs to comment on. I look at a good deal for Webis (WEB) but think my old pal Jim Mellon is taking the piss with his view of who qualifies as an "independent" director. Then onto the markets where we have another bad news is good day and finally the prize contest relates to the utterly shite results of Online Blockchain (OBC) snuck out at no-one is watching O'clock yesterday alongside the pretty shite numbers from sister company ADVFN (AFN)
Tom Winnifrith writes: I apologise for a bad share tip. If it is any consolation if this goes tits up I shall be waiving goodbye to a sum well into five figures. That however is the risk of owning shares. And it is not game over.
I contacted the FCA last week about what appears to be blatant market abuse, or possibly even securities fraud, at Dev Clever (DEV) and to its credit it has sent back a non standard reply indicating that it is taking the matter very seriously. As a reminder, Dev did a placing on December 20 2019 and its CEO sold £500,000 shares a month later only to admit in February that sales for the six months to 31 October 2019 were way below forecast. How can a software firm have not had any inkling of that before the placing and CEO share dump. It defies belief. The FCA writes:
Free speech denying, relative employing, value destroying serial bullshitter Rob Proctor of Audioboom (BOOM) is at it again with a trading statement that Nomad Allenby should be thoroughly ashamed of, in every respect.
Almost out of cash, Andalas Energy (ADL) is gearing up for a bucket shop placing c/o joint bucket shop brokers Novum Securities & Optiva in the usual way: a ramptastic podcast with PR genius Steffi, 2 ramptastic RNS announcements and a ramptastic paid for podcast with Vox. The trouble is that its claims have now been directly contradicted by its partner in the North Sea Badger field, Atlantic Petroleum (see HERE). If it turns out that Andalas was making unverifiable fantasy claims, as it appears, and raises money at an artificial price on the back of that, this would be a clear case of Securities fraud. In order to stop that the shares must be suspended at once pending a statement. I have written to the fake Sheriff of AIM, Marcus Stuttard at AIM Regulation as you can see below.
Today I explained HERE the mounting Badger scandal at cash-strapped Andalas (ADL) as it gears up for a bailout placing. In this podcast I explain why all involved should be concerned that they are not party to Securities fraud, notably Nomad Beaumont Cornish and broker Novum Securities - home to scallywag Gavin Burnell of Globo (GBO) infamy. This is a real test case for the integrity of the AIM Casino and I explain why.
Prompted by a reader I wonder exactly what Gavin Burnell of Globo infamy is doing round at Novum Securities these days?
I noted yesterday that Gavin Burnell of Globo infamy was one of the team at Novum Securities which raised £4.5 million for Audioboom (BOOM) at 3p – a placing which is already well underwater. How do I know? Because his name is one of three at Novum on the RNS. But here is a funny thing: Burnell is not approved by the FCA to conduct investment business! As you can see below, it reckons he is “inactive.”. I took this up with Novum boss Hugh McAllister…
Louis Coetzee is clearly a bit of a tease. On Tuesday, Kibo Mining (KIBO) was expected to update its investors on ongoing Power Purchase Agreement discussions and things looked promising when it issued a Company Update at 2pm... only for all shareholders to be bitterly disappointed by yet another discounted placing! What is going on Louis?
At 4.18 PM trading in the shares of AIM listed fraud Cloudtag (CTAG) were suspended ahead of an announcement. I do not know what the news will be but if it was good it would have been rushed out. I assume it is yet more bad news. As I pointed out earlier HERE, Novum Securities has every reason to walk away from the £975,000 placing at 3.75p announced this morning.
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.
This morning the inevitable happened. Sefton Resources (SER) placed at 0.065p. Shareholder anger is entirely understandable, but whose fault is this mess?
Masoud Alikhani, veteran chairman of Berkeley Mineral Resources (BMR), is celebrating the belated approval by environmental authorities in Zambia for its $18.7 million (£11 million) lead, zinc and copper tailings project at Kabwe in the heart of the central African country’s mining district. According to the AIM-quoted company, first tailings production could start ‘within days’ following written approval from the Zambia Environmental Management Agency (ZEMA), which also triggers the second half of a £1 million equity financing of Berkeley at a lowly 1.4p a share through Park Lane stockbroker Novum Securities.