I cannot help but notice that sub-Standard-Listed Cloudbreak Discovery (CDL) is back below its IPO price of 3p, at 2.8p in the middle. Call me Mystic Meg – for having sailed up as high as 13.25p on a ridiculous ramp, I commented in April that the shares have since drifted down to just 4.6p and seem set to drop back below the IPO price in due course. Where’s my Ouzo?
Last week, I exposed how Standard Listed company, Genflow (GENF), was created by a convicted pump-and-dump fraudster, currently facing an 85-year prison sentence. He and his “known associate”, Mr Adrian Beeston, supposedly own 20% of the equity, for which they paid peanuts. That alone should trigger an FCA enquiry, but it gets worse.
After yesterday’s bombshell, HERE, the FCA must suspend trading in Genflow (GENF) shares. My letter is below.
This is a major scandal - one that will create massive embarrassment for those operating in the depths of the AIM, Aquis and Standard List sewers. And for Matt Lofgran of Nostra Terra (NTOG), his buddy, Gavin Burnell of the Globo (GBO) fraud, and Novum infamy, it poses a major question of what they knew and when.
In the old days of editing this website, flip flop Ben Turney would skewer penny share promoters for deceiving investors. These days, flip flop runs Sub Standard Listed Kavango Resources (KAV), which today raised £750,000 at 3p, Friday’s closing offer price. The RNS is bure bunkum, but there is worse.
Aquis listed VSA Capital (VSA) makes its dosh floating and raising money for shitty little companies on AIM, the Sub Standard List and Aquis. The photo below, from yesterday, shows its staff preparing to party in the sun. So, with a prize of some worthless shares in star VSA float AIQ Limited (AIQ), let's all play "spot the customer's yachts."
I start with the warning of a three-day bearcast break in the summer, and explain why. And of how the cat has stolen all the Es. Then, it is onto the local elections, and a warning for complacent Tories about the thief in the night. Then, Cathie Wood and ARK, which really is going down the plughole. I look at new Sub Standard List IPO, Kendrick Resources, and give it the Bird. I cover bitcoin; Argo Blockchain (ARB); McColls (MCLS); Kinovo (KINO) - where somebody should be sacked; Wildcat Petroleum (WCAT); and Powerhouse Energy (PHE) . I explain what Steve Moore should do on his weekend "lads break"in Skegness. Oh to be young again. Irony. I forgot to say: thanks to all those who have now donated to Rogue Bloggers for Woodlarks. I shall be training hard again this weekend, with a day of gardening and an 18-20 mile walk. Think of my suffering, and, if you have donated, I thank you. If you are among the 97%of listeners who have not, PLEASE DO SO HERE.
In today's bearcast I discuss the different regulatory failings of AIM and the Standard List referring to 2 companies worth 0p, Vast Resources (VAST) and the fraud Chill Brands (CHLL) and the lies they tell. I look at Amur Minerals (AMC) and Eurasia Mining (EUA) and in detail at Novacyt (NCYT). I mention Jubilee Metals (JLP) where I am a loyal shareholder.
How investors wish that the FCA had dealt with my previous letters as a responsible regulator of the Standard List would have done. But it did not, and thus, earlier this week, the fraud, Chill Brands (CHLL), announced a bailout placing at just 2p. Unfortunately, it is clear that on a number of grounds, investors were deceived ahead of that fundraise. I have written to the FCA.
Happy Easter to you and your families. Today's podcast looks at four ways, some very easy indeed, to clean up London's share markets, the AIM sewer and the Standard List. I cannot see any argument against what I suggest, but maybe you can think of a few.
Yes, for the second time this week, I have written to the regulators of the Standard List, that is to say, the FCA, asking for an investigation into Canadian Overseas Petroleum (COPL), the almost insolvent POS run by snake oil salesman Arthur Millholland of Oilexco infamy. The letter is below.
Fear not: no waffle; this is not bad. I start with Rishi Sunak, his Mrs, and tax non-payment. Then, I look at: Canadian Overseas Petroleum (COPL), caught telling another monster porky today; Vast Resources (VAST); Omega Diagnostics (ODX); Victoria Plumbing (VIP); Arden Partners (ARDN); Ince (INCE); and a new uber dog on the Standard List – Ajax Resources (AJAX), another overvalued example of crony capitalism.
Following shocking exposes TODAY and YESTERDAY, clearly demonstrating that Standard Listed Canadian Overseas Petroleum (COPL) has deceived and misled investors, I have written to the FCA suggesting an immediate share suspension, pending a cleansing RNS statement and a full disciplinary enquiry. The letter is below.
Yesterday, I exposed how Standard-Listed Canadian Overseas Petroleum (COPL) misled and deceived investors, by hiding company-threatening matters from them in a final results RNS. But this is only the tip of the deception iceberg. Canadian has been deceiving its shareholders for months and months. So, this scandal gets far worse, as I explain below. Surely the FCA has to act….
The purpose of an RNS is to inform investors, not to deceive and mislead them. But that is exactly what Canadian Overseas Petroleum (COPL) did last Friday, when it published results for calendar 2021. On the RNS, we were treated to an abridged version, which read positively. I can imagine why folks rushed to buy. But…
Standard-listed Cloudbreak Discovery (CDL) has announced its Interims to 31 December 2021 this morning, the 4th of April. If you think that is a tad late, you would be right, for the deadline was last Thursday – three months after period end – and as far as I know the shares should therefore have been suspended. But the Standard List is regulated (no sniggering at the back….) by the FCA. As for the numbers, they are a horror show for anyone who can use a calculator.
Alpha Growth (ALGW) the Standard Listed sub scale asset manager and life insurance group does not employ a full time or even part time executive Chief Financial Officer which for a group that owns a regulated business in Bermuda and is in process of acquiring another regulated business in Guernsey is a serious deficiency.
It has been a while since a took a look at my Gold stocks so here is an update, including AIM-listed Ariana (AAU), Panther Metals (PALM) of the Standard List and Centamin (CEY) and Golden Prospect (GPM) on the full list.
A day after its lie-infested results announcement, Wildcat Petroleum (WCAT) has yet to put out a correction. Instead, we are treated to its quarterly newsletter, which might as well be an April Fool, or written from Alice’s Wonderland but instead is authored by “Mr T.C., the virtual representative of Wildcat Petroleum in these times of social distancing & restricted travel”. Jeepers.
The company that lied in its first-ever RNS has served up results for the six months to December 31, which contain, guess what? Yes. You got it. More lies. And these are material.
A prospectus without input from a broker or financial adviser has been approved by the FCA and Beacon Rise Holdings (BRS), a company which now has just nine - all Chinese – investors has joined the Standard List. Meet Mr and Ms Wang….
The Mercator death spiral, can be repaid in cash or at Supply@ME Capital’s (SYME) option by being swapped into a convertible loan note. The total repayable is now £7.7 million repayable in 12 monthly instalments from inception. To date Supply has made 3 full repayments and one partial repayment as set out below:
Standard-listed Panther Metals (PALM) has announced this morning that it is raising between £0.3 million and £0.36 million in a placing via an ongoing accelerated bookbuild at 8p per share. With the shares having closed last week at 8.3p in the middle it is a very small discount, although perhaps on reflection it might have been better to rattle the tin at the start of the year when the shares were over 12p.
I last wrote to the FCA as regulator, no sniggering at the back, of the Standard List, about the almost insolvent fraud that is Chill Brands (CHLL) on 31 January, just five weeks ago when for a second time I flagged up how it was deceiving investors with sales announcements that are bogus. Npw it is a 3rd strike on this count and the FCA needs to suspend trading in Chill shares pending an enquiry and sanctions against its management team and advisers Allenby. I have gone to the head of enforcement Mark Steward with the letter below.
Today. Toople (TOOP) a sub-standard listed company which I have warned about many times, published its results for the year ended 30 September 2021. The company made a loss before tax of £1,280,950 on turnover of £3,012,936. The real concern is the fall in revenues when the comparatives included only 7 and a 1/2 months from DMS Holdings Limited showing that the “core” Toople business once all its non-paying customers were removed had a massive slump in revenue.
On Tuesday shares in sub-Standard-Listed Cloudbreak Discovery (CDL) were languishing at around 1.8p – a whopping 30% loss on the IPO price last June. But then they started to rise and rise…….and rise some more, closing yesterday at 3.85p in the middle. They had more than doubled in the spae of just four days. So what was the earth-shattering news? A massive gold discovery? A takeover? Er, no……
Since the Standard List is regulated – no sniggering at the back – by the wretched FCA, lying to investors about the nature of a transaction is probably not considered to be a problem. Here is a deception and rule breach served up by the soon to be insolvent fraud Chill Brands (CHLL) on December 20 2021.
In light of interims today from Standard Listed Chill Brands (CHLL) which show clearly that the company has lied to investors in inventing bogus sales which it then announced via RNS, I have written to the FCA which is the regulator – no sniggering at the back – of the Standard List. Surely announcing bogus sales cannot be acceptable?
The disaster that is sub-Standard-Listed AIQ has lust lurched from bad to worse: it has announced a £500,000 convertible loan from insiders, led by Executive Director Li Chin Chung with £250,000. But the insiders connection does not end there…..
Pot play MGC Pharmaceuticals (MXC) joined the Standard List on 9 February 2021 and has already issued more RNS releases than most companies do in a lifetime. But that is not the only red flag relating to this dual listed ASX entity now being touted by certain chatroom trolls as the next big thing. MGC is drowning in red flags and its valuation is absurd.
I discuss the arrests made on 29 December in the USA and why the FCA should look at some of the activities of folks in the UK small cap world. Case studies include Eurasia Mining (EUA) and Chill Brands (CHLL). I then move on to Supply@ME Capital (SYME) and its news today, Wildcat Petroleum (WCAT) and also Verditek (VDTK), which I reckon is a zero for 2022 but since it can’t be shorted is not one of my tips of the year. To JP, sorry I have no idea why Peel Hunt quit as broker to Bushveld (BMN) but I suspect it gave three months notice. Leaving SP Angel as sole broker can’t be seen as good news. It is like firing our beloved West Ham as joint broker to retain the sole services of Chesterfield Town.
Bah Humbug! It is that time of year again when crappy companies slip out bad news when nobody is watching as they are getting ready for Christmas. Profit warnings, director share sales, resignations, awful results are the rage on Christmas Eve and as we enter a self-imposed Christmas Lockdown at the behest of Doom and Doomer, this year will be no different.
Supply@ME Capital (SYME) has been forced by Companies law to call a GM where it can explain to shareholders its historic serious loss of capital and what it is going to do about it. Its reponse so far has been risible, claiming that revenues will go up next year. This from a company that has had to slash sales forecasts it put into the market for 2021 to almost nothing in two slashes since July. But there is a more serious issue: impending insolvency. I have written to the FCA, the regulator — no sniggering at the back — in charge of the Standard List.
Cloudbreak Discovery (CDL) only joined the sub-Standard List in June, but the stock has been a one-way ticket south ever since. Having listed at 3p and peaking at 5.5p, the shares are now just 1.425p. Anyone who purloined IPO shares has now lost some 53% of their cash in around five months. Is that some kind of record?
Iconic (ICON) shares have been suspended since 7 June 2021 due to the appointment of joint administrators by Toxic Dave Sefton on 4 June 2021 via his company Arch Capital Partners LLP which purchased debts and claims from Shard Capital.
Yet again I write to the FCA the regulator, no sniggering at the back, of the Standard List about Wildcat Petroleum (WCAT), a company which lied in its first ever RNS, on 30 December 2020, and is still at it. At some stage, surely, the FCA must act to protect the integrity of the market. Is that more sniggering I hear at the back?
As you may recall, the business model of Vox Markets is that companies pay £15,000 a year to get interviewed by Justin the Clown who then asks the CEO whether he prefers Hob Nobs or Jaffa Cakes and whether his schlonger is ginormous or merely massive. The sort of AIM and Standard Listed companies that sign up, hope that such interviews can move the share price so allowing the next bailout placing. Maybe those companies have finally worked out that nobody takes the Clown seriuously and this business model is finally being rumbled. I see interesting filings at Companies House.
Standard Listed green shite investment company Net Zero Infrastructure (NZI) still refuses to say who is behind shady, offshore based HK360 Limited. This refusal to be transparent is all the more critical because there are very clearly some missing TR1s which would reveal who dumped into the pump. I have written to the FCA as you can see below.
This is the company that lied in its very first RNS on December 30 2020, claiming to have raised £600,000 for its IPO when, in fact the money did not arrive until January when “investors” had been able to flip their shares to raise the cash for the placement. Between then and now it had boasted of utterly spurious crypto and NFT deals then, one suspects under FCA pressure, reverted to its prospectus gameplan of trying to do an RTO in oil. But now another lie.
So who is behind the offshore (Belize) based tax dodgers at 360HK Limited which took part in the 3p per share IPO fund raise of Net Zero Infrastructure (NZI) on the Sub Standard List but has been dumping its shares into the pump ever since? It is a simple question but the company’s response will shock you? Or maybe with a patsy career politician Tory Baron and mate of Boris on board it will not.
I start with letters I have or will be writing to two regulators. One is about a thief and a liar in Dublin and I explain why the Central Bank really should act but possibly will not. The other is about a company on the Standard List exposed HERE today and I urge the FCA to take immediate action. Then I discuss the inevitability of higher interest rates. How will you cope?
Friday saw the publication of Alpha’s (ALGW) second interim results albeit no Prospectus has yet appeared on the FCA register of Prospectus almost 8 months after the placing occurred. I show below why the results need to be restated dramatically.
Not only a shit but a man who should be in jail.
Almost seven months after its acquisition of Providence Life Assurance Company Limited which was announced on 11 February and completed on 23 March 2021, Alpha Growth (ALGW) still hasn’t managed to issue its Prospectus to permit the trading of the 187,500,000 placing shares issued on 15 March 2021 to fund the acquisition. This hardly inspires confidence that the enlarged group has the appropriate financial reporting expertise and resources appropriate to run its business which now includes a Bermudian regulated business.
I have again written to the FCA as it is meant to be the regulator, no sniggering at the back please, of the Sub Standard list on which the fraud Chill Brands (CHLL) is listed. The company said that it was going to publish quarterly sales updates. It has not for the three months to September 30 and as the interims will, in due course show, that is because quarterly sales were sod all. Thus, having claimed that it was profitable the company is sitting on a profits warning. That is a breach of market rules. The letter follows.
Zenova Group (ZED) was brought to my attention recently. It’s a new list on the (sub) standard list as a fire engineering products specialist. I was not impressed on reading the detail, so I asked a couple of mates if I had not really understood the investment case. Apparently my initial negative opinion was well founded.
Standard-listed Panther Metals (PALM) has announced the commencement of drilling at its Wishbone prospect at the Obonga project in Ontario, Canada. This follows on from the commencement of drilling at Dotted Lake last month.
As African Potash (AFPO) this company was booted off the AIM Casino after its Nomad quid when discovering – thanks to me – that the company had told grotesque lies to get placings away, it had committed fraud. Chris Cleverley, cousin of leading Tory James who is no longer claiming he wants to buy West Ham, then took Potash to the Aquis lobster pot, changed its name to Block Commodities (BLCC) and carried on telling lies to investors for which the company was censured and fined, after I pointed this out to regulators. Could it get any worse? You bet.
The FCA is meant to regulate the Standard List of the LSE. Cripes it is not just at the back I hear sniggering, you are all laughing out loud. Please be serious and let us treat the FCA with the respect that it is due. Standard Listed Chill Brands (CHLL) has misled investors as to its trading position. What will the FCA do about it? I have written a letter this morning.
It is hard to know where to start with the ludicrous announcements from Aquis Listed Eight Capital Partners (ECP) controlled by former Supply@ME Capital (SYME) boss Dominic White. But having seen the FCA overlook industrial scale fraud at Supply, in its capacity as , ahem, “regulator” of the Standard List, White says he is going to move Eight to the Standard List. Surely the FCA has to reject this application? Why?
Well you cannot say that I did not warn you all that this would end in tears. Naturally, some Bulletin Board savants knew better than the Sheriff of AIM and heaped abuse on me in all the usual ways. Oh dear savants, you have lost all your money. Enjoy the poverty that lies ahead. Have you told your Mrs that Christmas is cancelled yet? For me, it has been fun while it lasted. No doubt Cynical Bear is, like me, enjoying ouzo on his cornflakes today as it was he who first alerted us all to the scallywags Charles Tatnall and James Longley who brought us Plutus and a raft of Standard list dogs which kept on lending each other money they could never repay. But today Plutus Powergen (PPG) has been booted off AIM. Hello: is that the Fat Lady I see rushing towards us? Nope. I think it is just my mother-in-law but you don’t want to mess with her either.
One of the great ramps of the year has been Wildcat Petroleum (WCAT), a poster boy for the sewer that is the Standard List regulated, no sniggering at the back, by the clowns at the FCA. It started its career on December 30th by lying to investors in its very first RNS. It said that it HAD raised £600,000. It had not.
This weekend’s short letter on the N50 website will look at a company whose shares you can trade. Today, I am feeling pretty proud of my take-down of Standard Listed Umuthi (UHS) whose March 4 IPO was to have valued it at £368 million. A series of articles HERE has seen its sole NED resign and nobody now seems to doubt that this is a complete fraud with no business and that the revelations are truly shocking. Sadly, as it is an obvious zero, its shares are suspended but there are lessons. Here are 10 signs that this was a fraud:
So far you have met the fraudster Queen, the other South Africans on the board who are mired in this fraud and an enabler, broker Pello and its boss Andy Frangos who are also deeply implicated in the Umuthi (UHS) bezzle. Now to the useful idiot, the patsy Brit on the board. A man in denial….for three grand a month, the man grinning at you below,Mr Colin Bloom.
After sending a prospectus for FCA approval again and again since 2017, Umuthi Healthcare Solutions (UHS) finally got approval on the 24th attempt and on 4th March this year, its shares joined the Standard List. Six days after listing, its auditors quit, joining two legal advisory firms who had already resigned in the previous 12 months. The shares were suspended and then trading restored on 25th May. They were again suspended on 10th June and look set to never come back as this is the most scandalous of frauds as I shall explain with a series of shocking exposes over the next 48 hours.
This podcast is in two parts. I start with a few words on Malcolm’s piece of earlier on Creightons (CRL) and paying a high or low PE. Then I have been passed a dossier and had a conference call about a company the FCA has allowed you to buy shares in even though it was told that the individual behind it was on Police bail for a massive fraud and had a history of fraud and guess what, this company is also a top to bottom fraud. I am gobsmacked by it all but especially by this latest Standard List failing by the FCA which is just not fit for purpose.
Supply@ME Capital (SYME) may have a couple of new directors but that appears to have changed now! It still appears to take a delight in deceiving the morons who own its stock. Today it says that it has closed its death spiral facility with Negma and replaced it with a loan except that it is not a loan but another death spiral! And it gets worse.
Sub-Standard-Listed Cloudbreak Discovery (CDL), which rushed its way onto the Standard List only in June as Imperial X (IMPP) before it had even managed to change its name amid a forest of Red Flags, has announced an industrial trough-load of options for directors, PMDRs and other staff. Its nice to be valued, but what about the shareholders?
I am not in the slightest bit apologetic. In fact I think she is rather pathetic and she deserved exposing for raising money on a false prospectus. But I am the pantomime villain of the Holt facebook page yet again today as I explain HERE. I then discuss Roquefort Investments (ROQ) a proposterous Standard Listed shell, Kefi (KEFI), Chill Brands (CHLL), and Nanosynth (NNN)
I have said before that some people are just in the wrong place at the wrong time. Well, actually, just one. This is with regard to sub-Standard-Listed BSF Enterprise (BSFA) and its new NED as announced this morning.
Sub-Standard listed AIQ (AIQ), pride and joy of Andrew Monk’s VSA Capital fold, has updated the market with publication of its interims. Given that the company only joined the LSE sewer that is the Standard List in January 2018 and spent its first six months suspended – in part due to disclosure failures in its Prospectus (nice work, VSA) – one might not be surprised to learn that AIQ’s existence hasn’t exactly been stellar. But this morning’s Interims – to April – are utterly disastrous. Shame on all concerned.
Such was the scandal when Charlie Wood was ousted from Attis Oil & Gas (AOGL) I thought that the London small cap world was rid of a wrong’ un we would never see again. I was wrong. London markets have no shame or standards. Thanks to Peterhouse Corporate Finance a man not fit to run a public lavatory let along a public company is back.
This is pretty clear. Even the woke dullards at the FCA should be able to sort this out with one phone call demanding that Wildcat Petroleum (WCAT) produce its bank records from 30 December 2020 to 31 January 2021 or maybe later. I have sent the letter below.
If the FCA was not staffed by such useless mothers, it would have forced Wildcat Petroleum (WCAT) to issue a brand new prospectus just 6 weeks after its December 30 2020 listing as it announced a whole new business strategy. But the FCA is not fit for purpose so it will, I expect, ignore black and white evidence that the very first RNS issued by Wildcat was a whopper of a porky. On the (sub) Standard List who cares?
Shares in sub-Standard Listed Cloudbreak Discovery (CDL) have dropped to another new low this morning of 2.275p – as against the IPO price only last month at 3p. It’s not looking good, especially as today’s decline accompanied a ramptastic RNS. Again!
I suggested that having dropped below its IPO price back in June at 3p, sub-Standard Listed Cloudbreak Discovery – nee Imperial X – (CDL) would struggle. Having peaked at 5.5p, the stock is now down to just 2.6p. Shall I save the Ouzo for the footie on Sunday?
Imperial X listed on the sub-Standard List back on June 3rd at 3p per share. The shares quickly rushed up to 5.5p but the share price chart shows a ski-slope ever since, despite a series of ramptastic announcements and a name-change to Cloudbreak Discovery (CDL). This morning we have another ramparoonie……
The current fashion for retail investors to back any old company that claims to be active in the UK intermittent generation market continues. Dukemount Capital (DKE) has been brought to my attention as one of the latest to attempt to tap into the retail enthusiasm for anything power and green related. Unfortunately this one does not pass my test as a worthwhile investment on so many levels.
Alpha Growth (ALGW) is a company listed on the (Sub) Standard List of the LSE main market which specialises in the longevity asset space. Its shares at time of writing are off 17% which values the company at £18 million. For a company which reported turnover of just £90,264 and a loss of £223,971 in its last interim results, this is baking in a lot of hope value for its managed fund and its recent life insurance company acquisition.
During the first five months of 2021, the AIM market actually grew by 3 companies from 819 at end of December 2020 to 822 companies. After many years of attrition that will be welcomed by some as a triumph. However…
This is a simple enough question for Cellular Goods (CBX), the Standard Listed pot company backed by David Beckham in a shoddy IPO on 26 February which we exposed HERE. The shares zoomed to 22p in early trades from a 5p IPO but have since rolled back to 7.6p to sell suggesting that many BB punters have been royally shafted by the inaccurate media hype but also that some pre IPO investors who paid a fraction of the IPO price may have been dumping.
Iconic (ICON) is a Standard Listed company so unlike AIM listed companies which have to comply with AIM rule 26 to maintain an up-to-date company information website, many of the details on Iconic’s corporate website are shockingly out of date. In fact, if there is a prize for the most inaccurate PLC website, I nominate this one. Just for starters:
David Lenigas was unable to float his poxy related party spoof Lenigas Cuba on AIM or the Standard List as regulators objected to the way he awarded himself gazillions of founder shares at peanuts before raising money shortly after from mug punters at a vast premium. There was no justification for the uplift, it was just greed, and even the AIM sewer and the FCA regulated (no sniggering at the back) Standard List have some standards. Luckily, Aquis has no standards and so Lenigas Cuba listed there. Of course it ended in tears. But that established that Aquis has no qualms about quite appalling greed. Take NFT Investments.
Standard-Listed Panther Metals (PALM) has announced some details of a plan to list its Australian assets on the Australian Stock Exchange in a deal which will, it is hoped, see AU$5 million raised to fund drilling of the prospects and which, if successful, could lead to a major re-rating. But there is more to this deal than meets the eye.
Another shocker from the Sub Standard list and once again Pello Capital, the broker formerly known as Cornhill, home to some real low-life scumbags, the sort of imbeciles who troll you on Facebook, is involved. That is a red flag for starters.
When your cousin James is a Foreign Office minister and tipped as a future Prime Minister and you mix freely among the Westminster great and good you might think that you are above the law. That certainly seems to be the case for Chris Cleverly who has spent the past five years lying to investors and raising cash on the back of it. Now he has a new con which he is trying to float on the Standard List of the London Stock Exchange via a backdoor reverse takeover into an insolvent company, and he has now roped in a US listed company which is already lying to its investors. The FCA and SEC must act at once. Cleverly’s crime spree started at AIM listed African Potash (AFPO).
Eurasia Mining (EUA), of which more later, has already met Roy this week as it became the company to have enjoyed the longest spell ever under a Formal Sale Process without actually getting a bid or admitting there would be no bid. It snatched that record from Best of the Best (251 days) on Thursday morning. But before the late Mr Castle thinks his job is over, I sense Umuthi Healthcare (UHS) may also get to meet him, Norris and, of course, Cheryl Baker, formerly of Bucks Fizz. In doing so, it will show that however many women the FCA promotes it is still useless.
Wildcat (WCAT) was established as a private company on 8 January 2020 with £50,400 of share capital. Those shares are now valued on the Standard List of the London Stock Exchange at just over £30 million. The whole blockchain related affair stinks because the real tangible value of this enterprise is 99% less than that! Let me explain.
It seems to me that the less substance there is to an investment on AIM or the sub-Standard List the better it is doing. If you have no cash and no revenue your shares will soar! It is so 1999-2000. All we need is for Alan Greenspan Jerome Powell to warn of irrational exuberance and we will be all set for another big crash.
Following on from Tom Winnifrith’s question over IFRS and the accounts of Heavitree Brewery (HVT), I have a question from the similarly funny old world of prospectuses – this is from that fine new outfit now on the sub-Standard list, pot-play Kanabo (KNB) which listed this week and has raced ahead by almost seven-fold.
There is a flurry of new cannabis listings going on at the moment, and Peterhouse play Kanabo (KNB) joined the Standard List yesterday, having reversed into Spinnaker Opportunities – a cash shell which joined the sub-Standard list back in 2017. The RTO was accompanied by a placing, raising £6 million gross at 6.5p and the stock is, ahem, on a high at 17.25p giving a market capitalisation of a very tasty £62 million. So is it a buy or a bargepole?
On Thursday 4th February at 7 AM a CBD company Cellular Goods announced its plans to raise £8 million on a £20 million valuation and join the (sub) Standard List, home to so many frauds and dogs. The night before, Sky News came up with the “scoop” that this news could be revealed as soon as the following morning and that David Beckham had invested and would soon sign a deal to promote the CBD skin product. Oooooooh a nice photo of Becks and blow off comment with no questions asked, this is the corrupt MSM and a PR drop all over again as I noted with the other listed company where Becks has “invested”, Guild Esports (GILD) the other day HERE.
All this needs now is for Harriet Dennys of the Mail on Sunday to claim that this company has a £6 million war chest (it does not) and Pineapple Power (PNPL) will show everything that is wrong about UK smaller companies markets, especially the FCA regulated, no sniggering at the back, Standard List. Let’s start at the beginning.
My joy this morning is somewhat tempered by the fact that the River Dee which flows past the Welsh hovel in which I live is at its highest level this century and I have wasted much time putting sandbags by the doors at the river end of the house. Fingers are crossed as, right now, the waters have just reached door level. Notwithstanding that, it is ouzo on cornflakes time, as shares in con Supply@ME Capital (SYME) have been suspended at my instigation, albeit two days too late.
The winding up order petition against Umuthi Healthcare was submitted by Richard “nobody likes me and I don’t care” Jennings of Align Research on 18 January. Umuthi, which still insists that it is set to list imminently on the Standard List in a £100 million – no sniggering at the back – transaction masterminded by bastard lawyers Memery Crystal, said it would fight. Er…
Supply@ME Capital (SYME) shares are listed on the Standard List which means that no Nomad has to sign off on its ludicrous RNS statements. The regulator is the FCA which only acts in a reactive way, i.e. after a company has sinned. Actually, the FCA’s overpaid staff are too busy publishing papers on global warming, the gender pay gap or just shitting on the floor to do any regulation at all. The FCA is institutionally useless. However, in the hope that Supply’s sins are so egregious that it might just act, I have emailed Mark Steward – the Enforcement Director of the FCA – asking him to get his minions to have a butcher’s and actually do something. The letter is below.
Obviously the big news today is on lavender. But I move swifty on to discuss the failings of the Standard List as exposed by Supply@ME Capital (SYME) in today’s shocker. Then I look at Xtract (XTR) where I confuse Panettone with Panna Cotta but flag up what is going on. Then it is Iofina (IOF), Online Blockchain (OBC) and finally Verditek (VDTK) where Tory Toff Lord Willetts needs to follow my lead and come clean ASAP.
My second tip for 2020 has got off to a bit of a flyer: (sub-) Standard Listed Australian and Canadian gold play Panther Metals (PALM), tipped at 13.75p a few days ago, closed out 2020 at 15p. But on New Year’s Eve – no-one-is-watching o’clock – out came an RNS entitled Year End Review. Was there a dead body to be found?
Sub-Standard-listed AIQ has had a chequered history since it floated on the London Stock Exchange courtesy of Andrew Monk and VSA Capital. The founding executive directors’ full details had not been correctly disclosed, there was the mother of all shambles as IPO share certificates failed to arrive in a timely manner and at the same time a buying frenzy – perhaps by people who thought there was a relationship to Mama Captain (denied), the stock spent most of its first four months as a listed entity suspended and even a placing to address the IPO shambles was messed up. Meanwhile, the stock was trading (when not suspended) at a ridiculous premium to cash, with no business.
I am quietly warming to (sub-) Standard-listed Panther Metals (PALM), chaired by Kerim Sener of AIM-listed gold producer Ariana Resources (AAU). Both are involved in gold, both are being run very conservatively and, of course, Kerim Sener is involved with both. When I first wrote about this company back in August, I had two main concerns: it is Standard Listed, and Peterhouse was the Broker. Despite those concerns, I picked up a few at 9.6p earlier in the year – a case of following the man (Kerim Sener) – but there may be some good news…..
Back on 26 August Umuthi Healthcare announced via RNS that it was to float on the (sub) Standard List of the Main Market, that is the one where those fine chaps and chapesses at the FCA are in charge of admissions. All was set for the UKLA to set a listing day in early September, we were told. But then came a delay.
I have today been quite busy on family matters, see HERE, which I find fascinating. I appreciate others may not! In the podcast I look at the general market meldown in the face of the Government going economy wrecking bonkers over Covid. I look at Supply@ME Capital (SYME) and Avant Garde, Verditek (VDTK) and its idiot investors, Big Dish (DISH), Trainline (TRN), Bidstack (BIDS) FinnCap (FCAP) and a cracking trading statement but questionable morals and Iconic (ICON) and the perils of the sub Standard List.
On September 3, Papillion Holdings (PPHP), one of the (sub) Standard List dogs run by colourful value destroyers Charles Tatnall and James Longley, announced yet another RTO deal. Shares in the company, which is clearly insolvent, have been suspended for an eternity pending one RTO or another but will this move into gold mining go through? The whole thing is bonkers.
There are many reasons to dismiss Standard-listed Panther Metals (PALM). For a start, having decided to depart the Nex (now Aquis) lobster-pot, it opted for the somewhat tainted waters of the Standard List, rather than a full listing (which, to be fair, at the time would have been a bit of a joke as its market cap would have been very small). And its Broker is that bastion of the bottom end of AIM, Peterhouse Corporate Finance. My immediate reaction is already to wave a red flag over this investment. But there are some attractions – enough to warrant a small spot in the cellar of the Montana Log-Cabin?
It looks as though the fun is finally over at Cynical Bear’s favourite, Mark Gustafson’s Standard-listed Challeneger Acquisitions (CHAL) for this morning the shares in the carcass of failed Big Wheels were suspended pending an RTO. Quite what Cindrigo Energy thinks it is doing taking on up to £560,000 of Challenger’s creditors and overheads, plus the costs of the RTO I am less sure of.
Zenith Energy (ZEN) is quoted on the Standard List, so the regulator in charge is the FCA. The FCA is also responsible for policing all cases of fraud among listed companies. So, after today’s shocking fess up as a result of my bombshell of last Thursday, I have dropped the chocolate teapots a note about events since June 4 demanding an urgent enquiry and the suspension of the shares.
(sub-)Standard-listed BSF Enterprise (BSFA) released an RNS this morning entitled “Acquisition”. Given that the company listed on the LSE’s (sub-)Standard list about a year ago as a cash shell with a list of Red Flags as long as your arm, including Mr Denis Ow with a heroic list of China-play failures to his name as Head of Investment Banking, I wondered what this acquisition could be…….another dodgy China-play, perhaps, or something else?
Cynical Bear had a great run following the shenanigans at Standard-Listed Challenger Acquisitions (CHAL) as it failed to see its ‘wonder-investment’ in the New York Wheel generate anything other than massive losses and red faces all round. But things seem to have taken a turn for the better - at least in entertainment terms - following the arrival of that fine duo of Jonathan Tidswell and - perhaps Lucky Lord this time - George Lucan. If only the balance sheet wasn’t such a mess……
Two house keeping matters. First please send Darren pictures of the view from your window & your work space during the lockdown to provide a daily distraction. Darren has kicked off the series with a snowy scene from his Canadian bolt-hole HERE. Second please do offer nominations for the rogue AIM & Standard List directors. If you are afraid of libel just nominate a name & company and Nigel and I will do the rest in a song & dance presentation on May 8. Details and nominations are HERE. In today's Bearcast I look at the demise or otherwise of Carluccio's, Virgin Airlines and Big Sofa (BST) and perhaps of the AIM casino itself.
I shall start the ball rolling with one nomination but feel you may be able to assist in compliing this list & the best nomination wins the usual prize to be sent one day. I seek men and women who are not only incompetent but also palpably dishonest, demonstrably using shareholders cash for theor own purposes or telling blatant lies to investors. A true Rogue director should be a serial offender & must still be a director or CFO of an AIM or Standard Listed company. So please nominate now with a name and the reasons why in the comments section below. I kick the process off by nominating…
Chris Akers ramp AIM-listed Asimilar (ASLR) saw its shares suspended on Friday after the company announced it was buying a stake in Sentiance, an AI company in Belgium. But hang on, I thought another Akers ramp, Mesh Holdings (MESH), was supposed to be buying that!
Dev Clever (DEV) joined the Standard List at 1p on January 21 2019. Boy: it has been a rollercoaster year of pumping and dumping.
My pal, Liverpool’s top share blogger, Doc Holiday calls many shares correctly but his latest twitter call on Standard listed Chesterfield Resources (CHF), below, is bonkers. He is ‘avin’ a Turkish when he claims that the shares, now 3p-3.5p could be trading at 15-20p. Let me explain…
Bermele (BERM), “a company formed to acquire a target company (or companies) with realisable or developed commercial technologies in the pharmaceutical and biotechnology sector, is pleased to update shareholders on its progress to date”. The market is also apparently pleased – the shares currently 40% higher to 1.75p…
Stranger Holdings ( STHP) is one of the stable of worthless and pointless companies on the Standard List run by Charles Tatnall & James Longley which this website has done so much to expose. Results out today for the year to March 31 2019 are sheer comedy: related party deals, accounting errors, an abandoned RTO and one that surely will be, a pretence that the company is not insolvent which, of course it is, even a cynical bear would be shocked by this nonsense.
Yesterday a new name joined the Standard List of the London Stock Exchange: that of BSF Enterprise (BSFA). It is yet another cash-shell to join the sub-standard list – as if we really needed any more – but a name sprang out at me and that name rang a bell.
AIQ joined the Standard List in January of last year and spent most of its first four months suspended, has to correct its admission document following revelations on this website and the share price went bonkers – yet it had no business, just cash. This morning it released its interims – is it really worth 28.5p a share?
Dev Clever (DEV) listed on the Standard List in December at 1p with some true rogues subscribing for placing shares. One of them blogged a thesis that the shares were worth 50p (a £200 million market cap) and that sort of ramping saw the shares reach 13p. Today they are sharply down at 3p to sell after the release of dire interims.
In today's bearast I take a detailed look at Sub Standard list Bermele (BERM) which is over-ramped, dripping in red flags and been pushed by shamed Bulletin Board Moron Aberdeenman. I also explain why I shall, tomorrow, be asking the Met to investigate whether Julie "lingerie on expenses" Meyer and her lawyer Peter McGrath might - as a result of this - be perverting the course of jiustice as I have news on the FCA's criminal investigation into Meyer which seems to be ratcheting up. I am not accusing either of this serious crime merely asking the Met to see if something awry is taking place.
Thanks largely to the work on this website, the ludicrous proposal to reverse drowning in debt POS Atlantic Carbon into worthless Daniel Stewart Securities ahead of a Standard List came a cropper in early April as noted HERE. But the curse of doing business with Daniel Stewart and its toxic boss Peter Shea is now becoming clear for all to see.
There seems little point in chastising Standard-listed AIQ (AIQ) for its ridiculous share price – it has been so ever since it listed, through two suspensions and two sets of results which show that its assets – a few coppers and no business – are a tiny fraction of the share price. Quite why the shares have been going up again in recent days is beyond me.
It was Cynical Bear who celebrated the fact that Pembridge Resources (PERE) – now of the Standard List (but suspended) had achieved the dubious honour of being both a ShareProphets AIM-China Filthy Forty company and on its transfer to the Standard List made his own Sub-Standard XI. Last night, at no-one-is-watching (except ShareProphets, naturally) at 5.51pm the company released its FY18 results. To say they were truly shocking would be the understatement of the year.
Well surprise, surprise – Cynical Bear was right! Standard-list posterboy Challenger Acquisitions (CHAL) reported its FY18 results last night at 5.24pm, hoping that nobody was looking. Unfortunately for its CEO, ShareProphets was watching and the numbers are absolutely dire. With net current liabilities of £3.2 million, it has a mountain to climb...
Cynical Bear has been in touch to flag up more strange money go round happenings in the Standard List mini empire of worthless shell companies controlled by Charles Tatnall. For Fandango Holdings (FHP) has just released its results for calendar 2018. It loks grim but also odd.
Normally when I see a damaging (to shareholders) death spiral in play it is with reference to company trading on the AIM Casino. We’ve had a few: Tern (TERN), Advanced Oncotherapy (AVO) VAST (VAST) to name just three. But Widecells (WDC) is listed on the main market – well, sort of: it was unleashed onto the Standard List in July 2016. But this death spiral really does take some beating!
Standard-listed AIQ (AIQ) – an investment company which rather caught our eye last year in the wake of its calamity of an IPO and repeat suspensions thereafter – has published its maiden full year results. Needless to say, they are nothing to write home about (unless you are a ShareProphets writer!)
Having helped investors in the UK lose 99.9% of their cash with Golden Saint Resources (GSR) as he trousered vast sums in fees and commissions, Aussie promoter Cyril d'Silva is back for a second go. And why not? It worked well for Cyril last time and it appears that (by definition, morally bankrupt) advisors are already lined up to allow him to float a BVI registered cash shell, Millenium Kapital Investments Pty Ltd on the Standard List.
I follow up on today's shocking revelations about the stockmarket comeback planned by disgraced Peter Shea and Daniel Stewart Securities with a detailed look at Adam Wilson's Atlantic Carbon, formerly Atlantic Coal, its shocking historic accounts, why they should ensure alarm bells ring and why this whole deal and its proposed Standard Listing stink to high heaven
More than a week after we exposed the coming death of Daniel Stewart & Company the weekend press has finally woken up and is reporting how it went into administration on Thursday. But something bigger happened on Thursday. Daniel Stewart, c/o former boss Adam Wilson is coming back to the market via a standard listing. Let me explain with the documents below..
Alpha Growth (ALGW) is running on ‘vapours.’ It hasn’t got a pot to piss in. Cash on hand is probably close to £170,000. Its auditor has issued a ‘Material Uncertainty’ as to viability going forward as a going concern. The Company has ‘fessed up that it has no revenue and will need funds. What is not to like?
The shenanigans of the Standard-Listing of AIQ are well documented here on ShareProphets, which included an incomplete prospectus, two suspensions due to a disorderly market (the IPO shares couldn’t be traded) and a fund-raising which was delayed – all in its first five months as a listed company! Meanwhile, with assets (all cash – it is a cash-shell) of around 8p a share, the price rocketed to an incredible 135p. We have been saying sell all along.
Following my piece HERE which voiced concerns that formerly AIM-listed BMR Group (BMR) had simply been executed by the oxymorons, I had a chat with the company to find out what comes next. My hope is that the company will release a statement in due course, but in the meantime what I can report is that it seems all is not lost. I can also report a little more on the loss of its licence in Zambia (which was subsequently restored).
BigDish plc (DISH) is a restaurant services company newly entered onto the Standard List this morning. At an IPO price of 4.5p it is calitalised at £12.9 million. I spoke to Aidan Bishop, founder and chairman of BigDish plc. about how BigDish works and where it fits in between existing restaurant plays Groupon (NASDAQ:GRPN), Deliveroo, and Just Eat (JE).
AIQ (AIQ) joined the Standard List in early January and spent most of the first four months of its life suspended due to a disorderly market, had to correct its admission document because it had missed out some information and steps had to be taken to remove some internet references to businesses which, we are told, it had nothing to do with. It was a shambles. This morning it released its interim numbers to April.
I called Standard Listed AIQ (AIQ) lower when it announced its Open Offer and the shares have (very roughly) halved, but there is plenty more to go. This morning it announced that the offer, at 20p, had been oversubscribed but remember that the net assets per share (all cash) are around 8-10p.
Two interesting announcements this morning from a couple of Standard List participants, namely Falcon Media House (FAL) and Derriston Capital (DERR). it’s finally the long overdue end of the road for the former but could be just the start of an exciting journey for the latter.
Having made it back to the market after its second suspension (and it only listed in January!), Standard-listed AIQ (AIQ) has now launched the promised open offer at 20p. Meanwhile, the shares have been collapsing from the suspension price of 135p to just 55.5p last seen. So the open offer is a giveaway, right?
Amazingly, the cash shell that is Standard Listed AIQ (AIQ) – with somewhere around 8-10p per share of cash and nothing else – has again returned from suspension this morning. The shares, having peaked (ahead of the last suspension) at 150p to buy are now in free fall, sitting on a spread (last seen) of 80p (to sell) to 130p (to buy). I have no hesitation in recommending a sell – there is, after all, only 8-10p of value here. What does surprise me is that there has been no official comment whatsoever from the company – or, indeed, anyone else.
I don’t write as often about my Sub-Standard Shockers XI as monthly updates saying that nothing much has happened and most of them remain in suspension is pretty dull; however, with 30 April being a crucial day in many of their calendars I thought I would do a quick review of some of the drivel emanating from these Standard Listed entities.
I will do a separate piece later this week on all the Sub-Standard Shockers that have come out (or not) with their accounts on deadline day of 30 April; however, I had to comment separately on Widecells (WDC) which as I type is still trading although should be suspended for two different reasons.
On Friday at 1.21pm we published a piece asking what was going on with Standard listed AIQ (AIQ). After all, the shares had only just come back from suspension following a disorderly market from when it was first listed in January. But the share were once again rising sharply, and at 115p way ahead of the 8-10p a share of cash that this cash shell had. At 1.55pm the company released an RNS saying that it:
Standard-listed AIQ, (AIQ) having shaken off my questions, corrected the record over its directors’ other directorships and supposedly dealt with the lack of stock available which sent the shares sky-high when it first listed has finally got its shares unsuspended as of yesterday. But once again the shares are trading at an absurd level for a cash-shell with perhaps, at absolute best, around 10p a share of cash: at time of writing, and no investments, the spread is 100p – 130p!
In one of the most bizarre listings the UKLA has allowed through, AIQ (AIQ) got onto the Standard List in January, only to be suspended three days later. The shares had gone mad, rising to 125p at suspension despite being a simple cash shell having raised money at just 8p. It seems that there were buyers but nobody could sell as their shares were paper certificates which had not arrived. But there were a few other matters too.
On 6th December I said that a token share purchase by Jim Mellon of shares on Condor Gold (CNR) was a spoof as it was so small for Jim. Moreover Condor was running out of cash and would do a placing within months. Mellon's PR man chewed my ear off. Well hey ho today there was a placing. A pattern of such spoofs and a subsequent placing has continued. Will I get an apology? I also look at lessons from Flybe (FLYB) and the non bid, at Fevertree (FEVR) director share sales, at UK Oil & Gas (UKOG) which is also spoofing, 13 Energy (13E) - "you say it best when you say nothing at all " - R Keating. Then I look at uber dog Golden Saint Resources (GSR) which is leaving AIM and says it wants to go to the Standard List. Lucky Standard List. I also mention our share purchase of more Optibiotix (OPTI). If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH
It’s clearly one of those weeks where chickens (or falcons) come home to roost as the wheels have well and truly come off at Falcon Media House (FAL) this week and it looks like the inevitable is starting, only two years after I started warning about it HERE.
Is @HemoGenyx the corporate account of HemoGenyx (HEMO)? Sadly PR poltroon Paul "Queenie" McManus of Walbrook and pouting brokerette Lucy Williams of Peterhouse have yet to return my calls as I pose this question. But since the lamentable Walbrook has tweeted directed to @HemoGenyx in the past they are either complete idiots (well they are) or that is all the confirmation one needs. Which makes the last two tweets on this account all the more outrageous. You can see them below. Bear in mind there has been no supporting RNS.
And so the blockchain spoofing continues. Step forward Stapleton Capital (STC), a standard list shell listed on 21 September to invest in telecoms. Its main man, the Holmes groupie Rodger Sergant has seen the light and the company is now to be known as BlockChain Worldwide (BLOC) The statement issued begs questions for the sleuth at 221B Baker Street.
Andrew Monk of VSA Capital has answered the questions raised in my previous two articles covering Standard-listed (but still suspended) AIQ (AIQ). He has to be credited for following up on the issues presented, and being open with his answers.
Andrew Monk's VSA floated AIQ on the Standard List last week. Its shares soared 1000% and were suspended. As Andrew notes, through the passive investment vehicle RRR I own shares in AIQ (about £10 worth - CORRECTION I am told it is £1841 worth!). I will try to sell the lot as the valuation is insane. But Monk wants to defend his corner so before our writers really go to town - and I am on their side - here is Monkey in his private email to clients today...
Our good friend and occasional correspondent in these parts, Graham Chester, has also been looking at Standard Listed (as of Tuesday) AIQ (AIQ), which rose from 8p to 125p to have a value of £62.5 million for its £3.6 million of cash and nothing else. Like me, he has become a bit of an anorak on China Frauds so when a familiar name crops up….
Suspended today becuase the market is disorderly, AIQ (AIQ) listed on the Standard list just two days ago at 8p per share, raising £3.6 million. It is a special purpose acquisition company incorporated in the Cayman Islands and formed to undertake one or more acquisitions of target companies or businesses in the e-commerce sector. Er, so it’s got no business at the moment and just £3.6 million (minus costs) in the bank and is now worth an incredible £62.5 million! Bollocks.
At the start of the month, I asked the question on the lips of all the Levrett (LVRT) shareholders, namely when the bloody RTO was finally going to arrive. Well, fair play, it was announced on Friday and shareholders should be pleased, particularly the founders who got in at a fraction of the price of the ordinary private investor.
I was smiling for much of yesterday having read the announcement from Monchhichi (MCC) about its proposed cancellation from AIM and a move to the Sub-Standard segment of the Main Market. Let me explain why.
I don’t normally comment on the ongoing delays of the potential RTO’s of Sub-Standard Shocker XI members as I would be writing on the topic every week but the Levrett (LVRT) story throws up another angle, namely the total disregard to the obligation to announce results; so without a Nomad to enforce compliance with listing obligations, I thought I’d see if I would have any luck.
Sub-Standard Shocker XI member, Papillon Holdings (PPHP) has been a horror show from the beginning, as I have highlighted a few times, most recently HERE, but the massively delayed announcement of the results on Tuesday this week shows Tatnall and Longley to be low-rent lying fraudsters and investors should be clamouring for their money back.
Having commented earlier today on the flourishing growth of the Standard List due in part to tougher rules on AIM, it felt appropriate to start covering a perfect example of such a company, namely Pembridge Resources (PERE) , which is currently moving from AIM to the Standard List. To be fair though, on an initial glance, there’s a lot worse in my Sub-Standard Shockers XI.
I introduced the idea of the Sub-Standard Shockers X1 in May last year on the basis that I felt that the Standard List was becoming a home for companies unable to get on AIM for one reason or another so I believed that, almost by definition, they were destined to fail. I had firmed up the original squad of fifteen over the summer (see HERE). I have since added others but thought it worth looking at those original squad members in a “Where are they now?” type feature.
My heart sunk last week as I noted that the Plutus Powergen (PPG) boys were at it again with their third Sub-Standard List effort coming to the market in just over a year, despite the first two efforts being absolute flops. Oh well, welcome Fandango Holdings (FHP), you’re in the squad– let’s take a look.
The demise of so many Standard Listed companies means that poor Cynical Bear has some big holes in his Sub Standard List X1 squad. But fear not, from God's chosen lands of Northern Ireland here comes Rockpool Acqusitions which will list in early July having raised £1.5 million at 10p.
You really do have to feel sorry for Cynical Bear. One minute he has a fully fit squad to choose from and then one by one they drop like flies, either with fitness issues or just simply keel over. I’d been getting a bit concerned that he’d struggle to put out a full team, but out of the blue there is good news for him. No need to turn to the back pages of the tabloid press for the big stories of sporting drama, we have it all here at ShareProphets: AIM-listed Servision (SEV) is to put in a transfer request.
This week was always going to throw up a few horrors with it being results week for a whole load of the Sub-Standard Shockers XI. I will do a round-up of some of the other comedic moments from the various announcements over the long weekend but Papillon Holdings (PPHP), which failed to get its results out at all, deserves a special mention.
Apologies for the delay in this mini-series (Part 1 of which can be accessed HERE) but I thought I’d do the decent thing and ask Falcon Media House (FAL) some questions directly first. As it has ignored me, I thought I should just crack on instead and now turn to the worrying matter of the fast vanishing cash balance, both historically and forecast.
Mixed emotions for me this week as it looks like one of the more entertaining stars of the Sub-Standard Shockers XI, Opera Investments (OPRA), may finally have done a decent looking deal with the Kibo Mining (KIBO) gold assets; however, it looks like it will be heading off for the sunnier climes of AIM as a result, leaving my squad ever so slightly weakened.
In a mini-series of tales of unlikely comebacks, I covered Dukemount Capital (DKE) earlier today and now look at Path Investments (PATH), although from first glance, it looks like the only ones who are on a Path to riches here are the management team.
As a kid, I used to watch the first three Rocky films pretty much on loop as I love a feel-good comeback story and I note that the Standard Segment of the Official List is fast becoming the home for such stocks. Unfortunately, I doubt the ones I’ll cover today are going to have the beating of Apollo Creed or Clubber Lang. First up is Dukemount Capital (DKE).
With the exciting news that Falcon Acquisitions (FAL), or Falcon Media House as it is now known, has finally come back to the market after an eight-month suspension, I thought I’d do a review of a few of the interesting bits coming out of the long-awaited prospectus as a counter-balance to the tsunami of bullish noise from all the usual places yesterday. Unsurprisingly, there is staggering lack of disclosure that is all too normal with Standard List companies.
I last commented on Sub-Standard Shocker XI member, Toople (TOOP), at the start of February (HERE) following its final results on 31 January, in which I was sceptical of its going concern claims and thought funds would be needed shortly. Funnily enough, it has now announced that the business is struggling and it needs new funds. No great surprise.
Just like the moment when Rooney scored THAT goal against Arsenal in 2002 as a 16-year old in off the crossbar from 25 yards, launching himself into the limelight, I gave a yelp of delight when reading the “Intention To Float” announcement issued by Ocelot Partners (OLOT) last Wednesday. Finally, the Sub-Standard Shockers XI may have found that playmaker with a bit of magical star quality that it can build a team around.
Oooops I did it again, said the boy scout mugger Stuart Bromley. Anmther day and another fuck up at Standard List posterboy CIC Gold (CICG), shares in which have been suspended since Novemver 3 2015 as it pursued an all paper RTO of a worthless brown field gold explorer Gobi.
With the majority of the squad in suspension, or just acting as if they are, the Sub-Standard Shockers XI is in need of some fresh talent and, fortunately, there have been three recent hopefuls making a claim for a place in the team, namely, Emmerson (EML), Mila Resources (MILA) and Stranger Holdings (STHG). I’ll take a quick look at each.
Earlier today I served up a shocking document from the land of high culture which exposes a $2 million heist by Pirate Pete Landau. I think it is fair to say that the Pirate is in real trouble and will not be docking his ship at the AIM casino ever again. But he is not the only chap in the spotlight as a result of this scandal.
In May 2016, I commented on the forthcoming IPO of a David Breith-connected business, Toople, which joined the Sub-Standard List raising £2 million at 8p (see HERE). It currently trades at 3.25p, a disappointing 60% drop in a mere eight months, but I thought I’d take a closer look at its recent maiden full year results to assess where it goes from here.
A dispiriting new entry to the Sub-Standard Shockers XI this week – well someone has to fill the impending gap created by the liquidation of Worthington (WRN) - so please everyone give a warm welcome to Simian Global (SMG), a reincarnation of a previously failed effort. Please allow me to explain.
I was going to wait until the prospectus came out for the Quiptel deal before commenting on the recent acquisition by Falcon Acquisitions (FAL); however, my spelling and grammar OCD got the better of me so I had to get a few things off my chest sooner rather than later.
By anyone’s standards, and this team’s standards are pretty low, it’s been a shocking week with a winding-up petition being issued against the team leader and general inspiration, Worthington (WRN) and player manager, Senterra Energy (SEN) having to ‘fess up to a failed deal with its share price collapsing as a result. How did the rest of the team get on!?
Having listed just over a year ago at 5p per share citing “market conditions present compelling opportunities to acquire a cash generative oil & gas company with strong upside potential”, Senterra Energy (SEN) was in May “pleased to inform shareholders” of a prospective deal with… “a sim-card technology business based in Singapore” (Oasis Smart Sim PTE Ltd)! Now we have a “Termination of Acquisition, Restoration of Listing” announcement…
Yesterday saw a shocking litany of scandal regarding Iraeli tech play TrendIT (TRIT) of the LSE’s Standard List on the main market. We saw how it managed to gain admission claiming to be raising £4m which didn’t arrive, how its accounts suggest that it was not solvent either before or after the IPO, lost its Broker (Peterhouse) which is yet to be replaced, confusion over which firm was acting for it in its IPO and admission placing, a boardroom merry-go-round, a going concern warning from its auditor and suspension from trading “pending an announcement” we’ve all been awaiting for almost three months – and it only listed in January! Today we bring you, courtesy of the Global Shorting Conspiracy, a translation of an article published by Israeli newspaper Calcalist.
If you thought that AIM was badly regulated then the Standard List seems to be making great strides to demonstrate how much worse it could all get. We already have Cynical Bear’s Sub-Standard Shockers XI but in the form of Trendit (TRIT) an extraordinary set of events suggests a real scandal is brewing. Will anyone step up to the plate and take action?
It’s no great surprise to me that Sub-Standard Shocker XI member, Silver Falcon (SILF) called off its potential RTO with Fintech business, Lime Holdings, on Friday but it’s still worth highlighting a couple of aspects of this disappointing affair.
With the football season now in full flow, it is appropriate to assess the full squad’s performance to-date. Unsurprisingly, but still disappointingly, none of the squad is fit to even tie the shoelaces of Robbie Savage let alone play in the Premier League, but will the FCA do anything about it?
I first wrote about Papillon Holdings (PPHP) when it joined the Sub-Standard List back in June (HERE) assessing whether it was “fit” enough for the squad. Well, I had no reason to worry as a mere three months later, it has issued an appalling RNS which will have the inevitable disappointing long-term consequences for shareholders.
A month ago Highlands Natural Resources (HNR) announced that it had sold some assets it had bought days previously for $91,000 for £4 million in shares in fellow standard list dog Opera (OPRA) as well as £240,000 in cash. Today that joke deal has collapsed leaving Opera desperately seeking another acquisition and with its credibility in tatters and Highlands needing to explain the lies it has told.
The ShareProphets AIM-China Filthy Forty has seen some tragedies worthy of Shakespeare – see PCG Entertainment yesterday, for example. So now it is time for the light relief, and in that vein we bring you, courtesy of a cracking spot by our very good friend Graham Chester, FY15 results from ISDX-listed Miloc Group Limited (ML.P). It is pure comedy….
Trendit (TRIT) announced on 4th January 2016 that it had "completed a placing of existing and new ordinary shares at 5.53 pence per share, and is raising a total of £4 million before expenses." Its shares duly joined the Standard list and were soon trading at north of 6p. The statement was not a lie but it was so utterly misleading that someone must go to prison.
Time and time again we have warned you that CIC Gold (CICG) would see investors lose everything. That is always the way with companies created by the Boy Scout Mugger, the loathsome Stuart Bromley. The shares are currently suspended on the Standard List following a joke RTO but the odds on them ever trading again are longer than that the Great Wall of China.
Bluebird Merchant Ventures is set to list on the Standard List of the main market this week. We have a few shares in this company, let us be upfront about that. The CEO of Bluebird is Charles Barclay and I asked him a few questions ahead of the IPO
In a wide ranging podcast I once again praise the great share blogger Paul Scott, if only to annoy those Bulletin Board Morons who wish to see us be nasty to each other. That will not happen. Elsewhere I comment on LGO Energy (LGO), UK Oil & Gas (UKOG), Armadale Capital (ACP), RM2 International (RM2), London Capital (LCG), JQW (JQW), IMC Exploration and that scumbag Liam McGrattan of US Oil & Gas (USOP) infamy and what that says about Standard Listings, and also on Tungsten (TUNG).
Xplorer (XPL) came in for a grizzly Bearcast savaging from Tom Winnifrith back on 1 Dec 2014 (HERE) following its Friday after-hours at no-one-is-watching o’clock interims statement. Last week saw this LSE Standard Listing company repeat the trick with its full year results to the end of March 2015 statement, released at 6pm when everyone had gone home for the weekend, or possibly for a few days’ summer holiday on Marbs with Jon Stretton-Knowles. If the Interims were a shocker, this statement was so much worse - it is hard to know where to start.