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.
One of the reasons the fraud, Chill Brands (CHLL), had to do a bailout placing this week, is the ridiculous purchase of a domain name. I can now reveal how the company has deceived investors about this fantastic money spunk.
Excuse me if I crow, but all the threats, harassment and smears I have received from those paid to attack me, as well as from dumb investors, enraged that I had dared to expose this crock since 3 February 2021, must now be viewed in light of a bailout placing, announced yesterday, at just 2p.
I have written once again to the FCA, as the regulator of the Standard List, urging it to act against Canadian Overseas Petroleum (COPL) as it struggles to get its 20p-a-share bailout placing away, despite misleading investors. My letter is below:
Only kidding, Elric – the bit about Optibiotix (OPTI) is at the end. Before that, I discuss bear market-funding economics (it is more interesting than it sounds); c/o Luke Johnson; Russia & Ukraine; ADM Energy (ADME) and its pre-bailout-placing spoof; Vast Resources (VAST); Versarien (VRS); and then, matters to keep Mr Lemming happy.
I am shortly off to Tesco then will be in action as the family cook. Ahead of that I look at Deepverge (DVRG) run by the arse Gerry Brandon, wondering which will come first, the next trading warning or the next bailout placing, at Mirriad (MIRI) where I disagree with comrade Stacey, Amigo (AMGO), Chill Brands (CHLL), Jubilee Metals (JLP), Supply@ME Capital (SYME), Cellular Goods (CBX), oil, gold and Ukraine and finally at Argo Blockchain’s (ARB) latest news.
AIM sewer posterboy NightCap (NGHT) still has massive questions to answer over misuse of shareholders cash by CEO Sarah Willingham and her husband Michael Toxic. But there is a another elephant in the room: how it is misleading investors as to just how poor its underlying trading position is. This matters as we head rapidly towards the next bailout placing.
On Friday I reported that Omega Diagnostics (ODX) was sounding out folks about a deeply discounted bailout placing, at as low as 5p. This was not speculation, this was not guesswork. I had a source. This is what is called good journalism, a scoop, printing something of note that the subject does not want to read. Today Omega ‘fessed up but, natch, it also deceived.
Lyin’ Steve at UK Oil & Gas (UKOG) knows that his company will run out of cash within a few months. Thus he wants to spoof mug punters into buying the shares ahead of the next bailout discounted placing to push the shares higher. How many bailouts has Lyin’ Steve undertaken now? I lost count as we sprinted into double figures. So how to ramp? Announce a share purchase says which ever imbecile is advising him on PR.
If the share price of a company is in sharp decline and the CEO walks it is for one of two reasons and neither is good. It could be that the CEO knows that things can only get worse and wants to put as much clear blue water between him and a ship that is bound to sink. Or the rest of the board know that stakeholders will only do what is needed to try to keep the ship afloat if there is a change of captain, it is an admission that the ship is in deep trouble. Either way it is always a sign to sell or short or add to shorts and that brings me to Omega Diagnostics (ODX) where I have been a long term bear.
Nightcap (NGHT), the company that uses shareholders cash to pay off the personal liabilities of its CEO Sarah Willingham and which hands out bonuses to her husband for doing M&A deals however bad, nonsensical or related party, has served up a- not surprisingly – poor trading statement. The uncalled for Plan B lockdown clearly hurt.
As I demonstrated HERE, April Fool’s Day is too late for AIM listed, sub scale, investment company Tern (TERN)- it needs a placing before then or it will be crash landing in tits up alley. No institution will touch this POS with a bargepole so it is an inevitable trip to the bucket shops for a discounted raise. The shares are now 11.75p. The NAV is not going to be anymore than 8p and is falling so what price to you think the placing will be at?
I warned you in late September, as Tiger Royalties (TIR) published dreadful interims, that the dream team of Mr Related party Colin Bird, London’s worst Nomad Roland “Fatty” Cornish and its spivviest broker John Bellis of Novum would need to do a placing before April Fool’s day or Tiger would be a dead big cat not for bouncing. Things have got worse.
I think that it was our reader from the Paddington Dungeon who first alerted me to the merits of checking out the website of Parsley Box (MEAL). Not to actually order any of its revolting produce which may satisfy commentator PL but would make my cats and most right thinking folk somewhat nauseous. But for the signs it offered of how bad trading had become.
Turkey is not proving much of a delight, UK onshore oil and gas is non commercial and, as I pointed out a couple of days ago, the next cash crisis looms. CEO Lyin’ Steve Sanderson cannot be expected to forego his bloated salary and so to keen the gravy train on the road another, no doubt deeply discounted, bailout placing is needed. What to do? Time for a green spooooooooooooooooof.
Shares in UK Oil & Gas (UKOG) now change hands at less than 0.1p. At peak Leni-ramp, less than five years ago they were just under 9p. CEO Lyin’ Steve Sanderson has trousered a total package of in excess of £3million during those five years when mug punters have lost more than 98% of their money. But I guess you have to reward talent don’t you.
In short “bullshit, talk about jam tomorrow and start planning the next bailout placing.” Okay that is not what Nanosynth (NNN), formerly the dog known as Remote Monitored Systems (RMS) did say but it might as well have. The name changes but this is still a dog with fleas.
First came the insider dealing. No, surely not this is AIM! That took the shares to 4.2p in five working days. Then came the catalaogue of disasters trading statement the next working day. That took the shares to 3.5p. And today, as I predicted, three days later, there is a bailout placing at 2.5p and the shares are now 2.95p. What a shitshow. Of course it also magnifies the lies told to investors back in late April.
The journalist trolling arse of a CEO, that is Gerry Brandon of Deepverge (DVRG), has already been exposed by this website for breaching AIM Rule 11 and misleading investors ahead of his last bailout placing. But today comes news that such deception has happened before. Gerry, you are a very naughty boy indeed and if you had a shred of integrity you’d be quitting in disgrace right now.
Advisors should have their interests aligned with those of shareholders. Not so Virdian Capital Partners, announced today as the new strategic advisor to the fraud Chill Brands (CHLL). Strategic advisor my arse, Viridian is a broker and corporate financier. Its remit as a strategic advisor is according to Chill, but the underline is mine: “in connection with capital raising strategy, M&A strategy, development of its board of directors and investor relations.”
Make no mistake, a bailout placing is underway at Wildcat Petroleum (WCAT) as revealed in yesterday’s bearcast. Today, a new adviser to replace disgraced Pello Capital, currently banned by the FCA from doing any business, has forced it to come clean so that it can place.
For pointing out what an overvalued crock is Deepverge (DVRG) and how the maths of cashburn did not stack up, its arse of a CEO took to trolling me on twitter, a medium he uses to ramp his shares in an alarming manner. Today’s interims vindicate me and show why anyone believing Brandon deserves all they get. Notwithstanding the company’s Covid play based, literally, on piss and pooh, the valuation is a joke.
I warned that UK Oil & Gas (UKOG) was passing the hat around yet again to the bucket shop community at 0.17p. Almost right. Thanks to Bulletin board morons lapping up the horse, Lyin’ Steve Sanderson spouted on its Turkish prospects it has managed to raise £5 million at 0.18p. And there is also an open offer at the same price but with the spivs already flipping, the shares are 0.185p so I cannot see much more cash being raised. How long will this latest bailout last?
This is my second letter this month to the Oxymorons at AIM Regulation about Bidstack (BIDS) where some investors have been made aware that trading is way behind budget but others live in blissful ignorance. I demonstrated earlier that Bidstack is now within days of going bust unless it undertakes a bailout placing so AIM Regulation MUST force it to come clean. The letter reads:
There are a lot of disgraceful things happening today and so this is a long bearcast and Matthew and his Dog will enjoy it. In it, I cover: the fraud Supply@ME Capital (SYME), the Zoetic (ZOE) fraud, the utter shocker at Live Company (LVCG), where Fatty covers himself in shame, Sarah Willingham’s Nightcap (NGHT), a gotcha! for me but more smoke and mirrors and valuation anomalies from Ms W and finally Braveheart Investment Management (BRH). In the excitement, I forgot to mention uber dog Bidstack (BIDS) which is now down to its last seven weeks cash and where a bailout placing must be imminent. If you enjoyed today’s show, how about backing the Rogue Bloggers HERE?
Having ramped shares in Nightcap (NGHT) up to 32p-35p, the company’s managers led by Dragon’s Den star Sarah Willingham are, I can reveal, attempting a bailout placing to raise £5-6 million at just 25p. There is no specific acquisition planned and this is simply because less than four months after its IPO it is running out of cash.
I have communicated with Britain’s finest regulators, no sniggering at the back please, a number of times on the matter of AIM bad boy Verditek (VDTK), the company run by Tory Toff Lord Willetts which is heading rapidly for insolvency. I have written again on the matter of its market abuse, deceiving investors to pump the shares ahead of bailout placings. The letter is below:
Oh dear, oh dear, oh dear. That used to be the catchphrase of disgraced penny share tipster Mike Walters of Minmet, 3DM, Polly Peck, Pursuit Dynamics, etc, etc infamy. I wonder if he will be using it today as the Verditek (VDTK) dog he has promoted so aggressively has coughed up to another lack of sales warning. It means that a bailout discount placing is inevitable within the next couple of months but natch the company, chaired by Tory Toff Lord Willetts, polishes the turd.
How on earth is Lyin’ James Draper still in charge of Bidstack (BIDS)? Dumping shares at almost four times the current price after lying to investors on a Justin the Clown podcast and while sitting on a lack of profits warning, issuing misleading RNS statements that had to be corrected and missing every financial target going is a piss poor CV even by the low standards of the AIM sewer. The man is a disgrace and is not fit to run a public lavatory let alone a public company. So to calendar 2020 results out today and the looming cash crisis.
Later today, Mark will be travelling from the stately home at Hooton Pagnell which has been in the family since 1704 to take part in the annual Upper Class Twit of the year contest. Will it be as exciting as last year’s competition below?
The first of a number of triumphs today for the Sheriff of AIM is AIM bad boy Bidstack (BIDS). After repeated pressure from this website it has, finally, admitted that its pre-Christmas trading statement was a deceit and, better still, has issued a shock warning about 2021. Oh dear, its moronic followers, including Mike Turner, that cross-dressing IT freak from Northants, will be cacking themselves as a cash crisis looms. Let’s start with the false market created on 17 December with the misleading RNS signed off by shameless Nomad Stifel.
Remember that bonkers RNS from September 24? That is why Supply@ME Capital (SYME), and specifically its boss, the liar Alessandro Zamboni, is pushing out so many ramptastic RNS announcements.
Sales are vanity. Profit is a matter of opinion. Cash is reality. But if you are trying to ramp your shares ahead of a bailout placing you do not want to talk about cash ( or rather lack of it) or even profits (or rather losses) so you just bang on about sales. That brings us to Bidstack (BIDS).
When I, again, exposed the con Supply@ME Capital (SYME) the other day, its boss Alessandro Zamboni told one of his moronic shareholders that his lawyers had advised him not to sue me for libel as I was only seeking readers and, anyway, full year numbers would speak for themselves. But with the shares sliding and the company almost out of cash, today we have a trading statement which whiffs of panic and is pure bull. It also begs the question of insider dealing.
It is bad news for gender fluid, Bidstack (BIDS) owning, journalist-defaming moron Mike Turner - the countdown to the next bailout placing is underway. I crunch the numbers and speculate on what boss Lyin’ James Draper will do about it. After that I consider Verditek (VDTK) and its growing catalogue of lies and also warn Innovate UK that I am on its case as I have been alerted to another of its grant scandals. Finally I consider two companies that are desperate to be bid for but which, I suspect, will not be: Audioboom (BOOM) and Eurasia Mining (EUA).
In today's podcast I look at the overall market bloodbath asking whether we see capitulation and a buying opportunity or if things could get much worse. I look at Bidstack and the speed at which it must complete a bailout placing, at Blue Jay Mining (JAY) and the antics of its disgraced Nomad and broker SP Angel, at Versarien (VRS) and the true import of today's free podcast and finally at AFC Energy (AFC) one of the most overvalued stocks on AIM.
The FCA and AIM Regulation are now looking at Neill Ricketts claim to have sold shares to fund the building pf a laboratory at a school which has not built the lab and claims a much smaller sum is NOT coming from Neill persobnally. While the regulators deal with that act of market abuse here is another twitter lie from Ricketts.
Ramped by Bulletin Board Morons, Toople (TOOP) is the sort of uber dog with fleas that should have been shot and put out of its misery eons ago. Today we have results, an acquisition and a bailout placing. Let’s start with the numbers.
The par value of Plutus Powergen (PPG) shares is 0.1p. The shares now trade at 0.08-0.09p making it almost impossible for this £700,000 capitalised worthless piece of crap to get a bailout placing away which begs the question of how Nomad Allenby, how on earth did it verify the last RNS?
I have long criticised the cash guzzling daft business that is Audioboom (BOOM) and its senior management, notably the former CEO free speech denying knobhead Rob Proctor. Now it is the chairman Michael Tobin who today talks patent bollocks. Do these folks not realise how ridiculous they look?
After yesterday’s shock lack of profits warning from Bidstack (BIDS) the next question is when will a bailout placing be needed. To that end the company has announced today what appears to be an almighty spoof designed to ramp the stock ahead of the placing. Even the company’s PR Buchannan has just admitted to me that the release is not clear. This is your £10 million spoof of the day.
I have today written to the Oxymorons at AIM Regulation with regard to Remote Monitoring Systems (RMS) and its disgraced Nomad SP Angel of Mysquar (MYSQ) infamy, asking if monthly management accounts can be produced to justify statements made just three weeks before the last bailout placing on October 18. If they cannot be produced the regulator needs to take severe action against the company and its Nomad. I write
Neil Woodford may have dumped his shares in IP Group (IPO) at 53p a few weeks ago but he collaborated closely with the company and its fortunes are in many ways tied into the scandal involving the man the Mail on Sunday, until recently, called Britain’s Buffett about once a fortnight. IP shares now trade at 62p but what are they worth? I commissioned resting fund manager “The Badger” who previously explained why, irrespective of who manages it, WPCT is worth only 3p a share, to produce a report. His work is below.
Saying that he wished to pursue more entrepreneurial opportunities, the founder and CEO of Audioboom (BOOM), free speech denying Rob Proctor has quit the company with immediate effect. Feck off Rob, the only question is whether other family members on the payroll (employed on merit natch) will be going too. And what, or who, prompted the departure of Proctor pere?
Previously writing on MySale Group (MYSL), in June I noted “Strategic Review and Formal Sale Process... with a view to maximising value for its stakeholders”. Uh oh…, concluding Shareholder wipeout ahoy? Certainly still bargepole / sell. Now “Outcome of Strategic Review and proposed Placing”…
I have noted on this website several times how Audioboom (BOOM) has real form in giving a misleading indication of its cash position and cashburn ahead of a bailout placing. I warned you that it was up to its old tricks again in the final months of 2018 and early 2019 ahead of two placings which came along as predicted. Now the scale of that naughtiness is revealed with dismal interims out today. Here is your timeline.
You have been warned so many times by myself about the uber dog Mirriad (MIRI) which listed on the AIM casino at 62p per share in December 2017. The shares are now 6.25p so shame on Nomad and broker Numis for this hound. Today we have calendar 2018 results and a warning that it needs a bailout placing within a year. I should cocoa.
On 29 January 2019 Westminster Group (WSG) the dog chaired by ex Tory MP Tony “fatso” Baldry of 3DM infamy issued a ramptastic trading statement to ramp its shares up to 12p allowing it to do a bailout, keep the lights on, placing at 10p a few days later. Now, as it prepares for its next bailout placing we have more grim news marking the company out as utterly uninvestable. First the mess of its accounts.
In bearcast i raise unanswered questions about Westminster Group (WSG) run by smug lardarse Tony Baldry and ask how soon the next bailout placing will be and at what price. I look again at the most overvalued & over-ramped stock on AIM, Bidstack (BIDS), at BlueJay Mining (JAY) and at AO World (AO) and Purplebricks (PURP) two companies that boost profits by ripping off customers.
Britain’s most conceited fund manager, Neil Woodford, has been catching the Purplebricks (PURP) falling knife all the way down and, as at October, his funds owned 29.25% of the company and so he really can’t buy many more shares. And the problem is that no-one else out there is daft enough to throw good money after bad and thus the stock continues to head south. At 123.8p to sell the shares are almost back at the level of the most recent profits warning on February 21. That tells you that another warning, a full year one, is one the way.
In this bonus bearcast I comment on today's lack of profits warning from WH Ireland (WHI) and the bailout placing now underway which I had predicted. I look at WH Ireland and its woes but it is symptomatic of an industry in crisis. FinnCrap (FCAP) must warn sooner or later and most of the rest of the Nomad/brokers already have. What is needed is massive wage cuts across the board. Thankfully for supliers of coke and hookers, that will not happen which means a structural and cyclical crisis will claim more casualties soon. If you enjoyed this slating of the City's broken business model why not support the Rogue Bloggers for Woodlarks HERE.
Mobile content retailer in Argentina and India, Mobile Streams (MOS) “is pleased to announce a fundraising of £140,000… at 0.35 pence per subscription share”, with CEO Simon Buckingham “delighted by this increased support from our existing investors. We are excited by the potential to launch our mobilegaming.com games services in the large Indonesian market”. Hmmm...
We hear it's bailout placing ahoy for Haydale Graphene (HAYD) - at just 5p. Ouzo o'clock imminent for Nigel Somerville...
Mayan Energy (MYN) has today raised £750,000 at 0.12p in its latest bailout placing but it comes with an admission that it has forgotten to file returns to the US taxman, the IRS, for an unspecified period and thus who knows how much of that cash will be swallowed up in unpaid tax bills. As such we have no idea how fast the clock is ticking on the next bailout placing. The City’s top oil analyst, Zac Phillips of SP Angel is scathing. He writes:
In this case the turd has been sugared, the pill polished but make no mistake, Midatech Pharma (MTPH) is well in the merde and that is bad news for Britain’s most conceited fund manager Neil Woodford whose funds own 20% of the equity.
Oh dear! Bad news from the boiler room. In this case I refer not to the offices of Peterhouse Corporate Finance, broker to this dog but to Sabien (SNT) itself, yet another company that planned to revolutionise the world of boilers when it raised money at 52p and listed in December 2006. Today’s latest bailout placing is at 0.1p and the owners of the 400 million pieces of confetti issued will end up owning 64% of the enlarged equity. More dilution vicar? It will not be the last.
Warning there is plenty of bad language in the podcast - perhaps do not play it in front of the kids. I start with an update on those bastards at Barclays (BARC) who I discussed yesterday. I then look at Victoria (VCP), Jim Mellon's Port Erin (PEBI), two SP Angel dogs MySquar (FRAUD) and BjueJay Mining (JAY) and have new and serious questions for the shamed Nomad to consider. I look at Frontera (FRR) and its looming bailout placing, at Ascent Resources (AST) and at Rainbow Rare Earths (RBW). I also discuss the market sell off commending a reader who notes both my genius and my modesty on this matter.
Oh dear. Oh dear. With the disgraced and widely reviled dirty tricks specialist Tim Thompson running its PR Frontera (FRR) was always going to play fast and loose with the rules of the AIM casino as it tried to ramp its shares ahead of yet another bailout placing. Today it announces a MOU which is really nothing of the sort and exposes this promote for the crock of shit that it is. Even the dullards on the LSE Asylum must now start to realise that they have been had.
A “Major Contract Win” announcement from Toople (TOOP) on 29th August followed the prior week “contract win demonstrates that Toople is excellently placed” and saw the shares soar to more than 0.92p. I warned with an attempted bailout financing looking on the horizon, sell / avoid, and the shares had settled somewhat around 0.75p before a now “Proposed placing to raise £2.2 million”…
I covered this matter in bearcast the other day. Frontera (FRR) is working hard to mislead punters as it endeavours to get away another bailout placing. I'm not short but the great Waseem Shakoor is and he opines:
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.
Two days ago we asked you HERE to guess the price of the bailout placing which Frontera Resources (FRR) needs ASAP to avoid going tits up. And, with the stock still 0.22p to sell, you said…
I do not wish to fall out with my pal Brokerman Dan or with PR Genius Steffi but I think that their enthusiasm for Andalas Energy (ADL) is misplaced because the company is just not being 100% upfront with investors about its new great hope, the Badger prospect in the North Sea.
A “Proposed Remuneration Policy and Countrywide AGP” announcement from Countrywide (CWD) looks to require the ShareProphets RNS translation service (Countrywide in italics, ShareProphets RNS translation service in bold)…
Shares in Westminster Group (WSG), run by loathsome ex Tory MP slug, Tony “fatso” Baldry of 3DM infamy have slipped again to just 9.2p to sell. Those who ponied up £750,000 in the last bailout placing at 22p, less than six months ago, must by now realise that backing a Baldry run company is financial hara kiri. But things are going to get worse. You see the money's almost gone....
This tweet below is just one of a number of bullish tweets about Horse Hill where the biggest investor is UK Oil & Gas (UKOG) made by David Lenigas the founder of UK and, as far as we know still a shareholder. Today it has been forced by me to fess up that a bailout placing is underway. The problem with Big Dave's tweet is that it is bollocks. As to the idea that it is a pre-placing ramp, no way Jose, not David Lenigas, this is just a coincidence.
Tissue products manufacturing group Accrol (ACRL) has updated that it received valid applications of 287.64% of the new shares available under an open offer to raise up to £1.935 million at 15p per share. That compares with a 22.5p prior close, but also more than 130p as recently as October 2017, so where now?...
Andalas Energy (ADL) is a company that even after its recent placing has NEGATIVE net current assets of $1-2 million and no assets of any value. I think it is worthless but its management wishes to meet me to explain why I am wrong. Hmmm. Well for starters I am a hermit who never goes to London other than for UK Investor and secondly I simply will not meet until the company answers four questions and it is still refusing.
In June 2016 tissue products manufacturer Accrol (ACRL) listed on AIM, raising £63.5 million at 100p per share. Just seventeen months later it was bailout fundraising at half of the IPO price but still recently “revised banking arrangements” have been necessary and now at 3:08pm on 15th May 2018…
With it shares having been suspended in early October “pending clarification of its financial circumstances”, today a “Proposed Placing of £18m and Lifting of Suspension” announcement from Accrol Group (ACRL). Good news then? Well…
Strat Aero (AERO) is quite clearly insolvent. That its shares have not been suspended pending clarification is just another badge of shame for the world's most successful growth market, that is to say the AIM Casino. Today sees another pathetic attempt to sucker in mug punters to try to pump this worthless stock ahead of another bailout placing.
Shares in Strat Aero (AERO) have slumped by 30% in early trade to just 0.04p-0.05p - the question is what will the next RNS say: shares suspended pending clarification or confetti blizzard in hugely discounted share placing?
Last writing on HaloSource (HALO) last month I noted the shares then around 20% ahead on the day, heading towards 2p, on a water bottle agreement but that the company was soon set to again require bailout funding. There have since that date now been four further announcements…
I sense that this is the start of another pump before the dump of yet another bailout placing by the free speech-denying tossers at Audioboom (BOOM). Today we have news that Oli Walters has joined as head of UK sales. Oli pretentious millennial twist on Oliver perhaps? I am sure that he will fit in brilliantly and help rack up an admin overhead which is now closer to £600,000 a month than £500,000.
Lifestyle company Magnolia Petroleum (MAGP) has started the ramp ahead of its next bailout placing with news of a share consolidation. It may fool some fools but not the City's No 1 oil analyst, Zac "the Knife" Phillips of SP Angel who is at his waspish best and opines:
Having risen from just above 4p to 5p last week post announcements, including results for the first half of 2017, shares in blur Group (BLUR) are now again retreating…
Interims from Strat Aero (AERO) today are dire. They show a company that was bust on June 30, one with zero earnings visibility and an ongoing cash burn. There is a lack profits warning and a tacit admission that a bailout placing is inevitable. I should cocoa. But even if there is a heavily discounted bailout this company is probably toast. The shares are worth 0p. SELL. This is, like most stocks promoted by the Sith Lord, Zak Mir, toast.
A year ago I thought that loans taken out an annualised rate of 30% such as that African Potash (AFPO) obtained from the fragrant wife of its hapless FD were a rum and coke. But that is nothing to the stunning admission today from Andalas Energy (ADL) - a loan repayable in one month at an annualised rate of 150%. Even by the standards of AIM Casino junk - Wowee.
Having at the end of last week announced a conditional, bailout (and thus dilution-extraordinaire – a gross £1.75 million at 1.75p per share) placing, blur Group (BLUR) has now announced immediate effect “Board Restructuring”…
Blur (BLUR) was floated at 82p. Today after five years of accounting fraud, operational failure and cash guzzling it is doing another bailout placing at just 1.75p so leaving its long suffering shareholders 98% down. As part of today's bailout a number of directors have "been resigned" including Kara Cardinale, hithero paid an arm and a leg as Chief Delivery Officer. Chief what the fuck???
Tom recently published an article about Golden Saint Resources (GSR) reaching 8,822,256,582 shares in issue after a latest bailout placing, asking what is the AIM shares in issue record? Well, as at the end of March, some data from the LSE showed;
Another day and another bailout placing from Golden Saint Resources (GSR) leaves it with 8,822,256,582 shares in issue. Floated at 10p, the shares are now 0.02p but how close is it to the record books?
“fastjet (FJET), the low-cost African airline, is pleased to announce that… it has successfully placed 143,449,794 new ordinary shares at a price of 16.3 pence per share… If the placing does not proceed and complete, and in the absence of the group being able to successfully agree or implement any alternative funding, the directors would seek to commence a process of placing the group into administration”. Wait a minute, just in August the company raised “total aggregate gross proceeds of £15.2 million… all at 50 pence per new ordinary share”. What’s gone on?
Cyril d'Silva who floated Golden Saint Resources (GSR) at 10p a share three years ago has just updated his facebook profile with a new picture. With the shares at 0.05p Investors have lost 99.5% of their money but Cyril does not seem to be starving. The word on the street is that Golden is trying to get another bailout placing away urgently as it is again out of cash. Meanwhile as you look at the smug fat fellow below do you have a suitable caption for the photo. Entries in the comments section below before midnight Tuesday please.
As indicated at the time of its bailout £10 million placing on September 30th, Advanced Oncotherapy (AVO) has now announced that it is to raise up to £4.8 million via an open offer at 100p. With the shares at 102p to sell, I'd rather sign up to spend two weeks alone on a desert island with crooked Hillary droning on about how being a rape enabler makes her a good feminist, than accept this offer.
Hapless Neil Ritson of LGO Energy (LGO) is doing yet another ramptastic interview with BRR Media, the company that charges PLCs who want to ramp worthless shares to record interviews with easy questions. The webinar is at 11 AM on Friday and has asked that questions be sent over to email@example.com. I am a nice guy and always keen to help so here are 25 for starters:
I have already requested that the FCA and AIM Regulation investigate the deliberate way that investors were misled by African Potash PLC (AFPO) ahead of the January 12 2016 bailout placing with an RNS on December 1 2015 as you can see here. Now evidence is emerging of an even bigger deception in an RNS on January 6 2016 just six days before a bailout placing. I have thus written to both the FCA and AIM Regulation asking both to widen their investigation into both Potash and also Nomad Cantor Fitzgerald and its lead QE, Mr Stewart Dickson. This is a clear case of Securities fraud.
I take my hat off to Neil Ritson, the hapless CEO of LGO Energy (LGO), as he does not seem keen to disclose more information about how his company is doing. Unfortunately the information is underwhelming and as the company's cash runs out and the next bailout placing looms the shares are set to head only one way. And it is not up.
These old folks they need mental exercise. Crosswords, jigsaws, Soduku, easy questions from their son. But my father fails on the how many days till Glenwick (GWIK) is suspended question. He says his mind is on higher things. Meanwhile I am still traumatised from being seen buying a copy of the Guardian for him. I look at Red Rock Resources (RRR), Glenwick, Leed Resources (LDP), Aquatic Foods (AFG) and China frauds, BoxHill (BOX) and naughty Lord Razzall - how is the bailout placing going your lordship? And I commend the recent work of Daniel Levi (Brokerman Dan) on Mkango Resources (MKA) where the old rogue is bang on the money. Mkango is truly worthless.
On 6th January 2016 African Potash (AFPO) announced a major sales deal. Six days later it got away a bailout placing. Gradually over the months that followed that sales deal was shown to be bogus, a sham, not worth the loo paper it was written on. But at least the ramp allowed this AIM Casino posterboy to get its placing away. Now the bastards are at it again. 30 seconds on Google is enough to make you doubt a word this company says as it tries to get another bailout placing away. African is teetering on the verge of insolvency.
Jeepers, if turd polishing was an olympic sport Neil Ritson of LGO Energy (LGO) would be battling for a place, after so much practice he has acqusired a certain skill. But a turd is - however polished - still a turd and that brings us to the statement today from POS LGO.
responding to Chris Cleverley of African Potash (AFPO) starting to do soft interviews and the failure of his company to answer basic questions about Butterfly Corporate Finance I explain why Chris must go to prison for securities fraud and lying to investors and why his company must go bust, the only question is when net current assets go negative. One imagines Cleverley wants a bailout placing asap but who would be mad enough to get involved?
This is not hard. The RNS from Servision (SEV) today is designed to ramp the shares ahead of a rescue bailout placing. It is bollocks if you add up the numbers. So too was the last RNS by the way. I have reported this POS to the FRC for dodgy revenue recognition policies, it almost certainly now has negative net current assets and is burning cash. There is a bailout placing looming and you should sell now. This company deserves to, and could well, go bust.
Just over a month ago Solo Oil (SOLO) announced it was increasing its stake in the Kiliwani gas project in bongo bongo land and that it would sign an SPA and hand over $500,000 within 30 days. 30 days was last Saturday and still we await an RNS but Solo can't do that because it has not got the cash so instead...
Ed Winters the CEO of Fastjet (FJET) had wanted to stay on the payroll for 12 months after a new captain of the low cost airline Titanic could be found. Sir Stelios of Easyjet wanted him out now - even with no CEO in place - and also demanded the head on a platter of General Counsel Krista Bates. Ed & Krista squirmed but with Sir Stelios owning 12.6% of the shares and the money running out, Ed and Krista have gone. Krista cleared her desk today, Ed clears his on Friday.
Five days ago we revealed that David Lenigas himself was trying to arrange a £5 million bailout placing for insolvent LGO Energy (LGO) which would see Jabba go back on the board and hapless CEO Neil Ritson pushed into the long grass a couple of months later. We have emails from broker Dowgate to potential investors explaining Jabba's plans and saying that the placing would close well before the end of last week. There has been no RNS. Clearly - and not surprisingly - the placement is struggling big time and so LGO has today released ramptastic bollocks from Goudron to try to spoof punters into backing the bailout.
In its most recent profits warning Fastjet (FJET) used language deliberately designed to hide how close it is to trading while insolvent and how inevitable a bailout placing is. Its PR firm Citigate Dewe Rogerson then engaged in disgusting fascist bulling and smearing to distract attention from this pressing issue. But the truth will out and, indeed, here it is.
A challenge to Eden Research (EDEN) about its FRAUD - will it please send me a lawyers letter as I really want to see the bitchez in Court. Its PR man Queenie McManus smearing me is just so tedious. Man up Queenie and do the decent thing. I also suggest that Nomad Shore Cap thinks twice before assisting Eden with a bailout placing. In this podcast I also look at DDD Group (DDD), Ascent Resoures (AST), Auhua (ACE), ECR Minerals (ECR), Evocutis (EVO), Alba (ALBA) & Stellar Resources (STG)
Naturally anyone associated with David Lenigas must be a respected industry figure whose integrity is beyond doubt. You can trust every word said by men such as Steve “I said that there were 100 billion barrels on camera but deny that I said it” Sanderson of UK Oil & Gas (UKOG). And so it is a given that LGO Energy (LGO) has been upfront about its Goudron 678 well issues is it not?
After hours interims from Golden Saint Resources (GSR) a few days ago made it 100% clear that this company is fundamentally insolvent. It is by now out of cash, it is running on vapours. A bailout discounted placing is the only way out and so today there is another pathetic attempt at ramping the shares with a gobshite RNS.
I have noted before how Rosslyn Data Technologies (RDT) seems to have been economical with les actualities in its IPO document, how it is rapidly running out of cash and how kee it must be to protect the share price ahead of an inevitable bailout fundraise. And that brings it to its huff & puff RNS of 23 February 2015 – “Rosslyn Data Technologies signs major partnership in the US higher education sector”.