Keyword results: bust

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Nightcap - car crash results from Dragon's Den "star": without May placing it would have been bust six months after IPO

Nightcap (NGHT) the joke SPAC created by Dragon’s Den star Sarah Willingham to buy an insolvent bars group where she was a director and major shareholder, not from the receiver as it should have done, but from shareholders, including La Willingham herself, has published its first annual results and they are truly diabolical.

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Crowd For Angels squirms to cut exposure to Verditek as insolvency looms – Verditek loses 42p on the trade

Oh dear, this looks like it is going to end in tears for Richard “Gollum” Gill and his colleagues at low grade crowdfunding outfit Crowd For Angels.  The problem is that Verditek (VDTK) has still to announce any meaningful orders since its interims and thus is, as we speak, almost insolvent. And that would expose a black hole in Crowd’s own woeful balance sheet. The facts…

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TUN
TUN
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Tungsten West – Let me help bury an old issue and see new positives: BUY

I have followed the fortunes of the Hemerdon Mine in South Devon for some years, and it is back as a listed asset via the IPO today of its new owner Tungsten West (TUN) on the AIM market. The asset has an interesting history with a twist that was worthy of some time and effort to properly understand.

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BREAKING: Tern – oopsadaisie: Just How Bust is Bust at Device Authority?

Oh dear oh dear. AIM-listed jam-tomorrow IoT investment company Tern (TERN) principal investee Device Authority has just posted amended FY20 accounts at Companies House. Given that the original accounts were signed off back in January but not posted until 21 September 2021, that looks like carelessness – as do the missing Notes to the Accounts. And then there is an increased £4.6 million liability, apparently owed to nobody!

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Letter to AIM Regulation – Bidstack must come clean on its dire financial position

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:

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Verditek – what will the auditors say about the carrying value of inventory if the company has not already gone bust?

The cash position at Verditek (VDTK) must be really grim by now. Cash balances at 31 December – just a couple of months after a £3.5 million fund raise – were just £1.7 million. Still not generating any revenues at all, my guess is that cash is now well under £1 million and heading south rapidly. As the auditors consider 2020 accounts, they must surely be insisting that there is a material uncertainty as to whether this can be viewed as a going concern or not. But there is another million dollar question.

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MDZ
MDZ
PREMIUM CONTENT

Mediazest – shares rocket: have the BBMs completely lost it?

AIM-listed Mediazest (MDZ) caught my eye this morning: it is currently top of ADVFN’s gainers leaderboard today with a rise of a very impressive 140%, with a share price of just 0.12p – having been as high as 0.175p. There was news of new business wins due to bring in £350,000 of revenues but as we know, revenues are one thing and cash is quite another. But apart from that, it looks like a forest of Red Flags is upon it: have the Bulletin Board Morons completely lost the plot? TW Note did they ever have it?

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Gold
PREMIUM CONTENT

Gold: patience, patience.......

When I last commented on Gold I noted that it seemed to have smashed through overhead resistance at $1900-1925 but cautioned that it may turn tail again in the short term. My view was – and remains – that it will head sharply higher over the next year to eighteen months but we must await the return of the Gold Bull. Well, it seems that it has indeed turned tail – we will be waiting a little longer for the bull to reappear.

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Bear

The UK has the highest property taxes in the developed world but the Eurozone is bust

Some folks are wetting themselves that we are leaving the EU. But the Eurozone is bust!

Dead-Donkey
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Philip Green’s Arcadia to go bust so who is to blame?

It appears that Arcadia, owner of TopShop, Burtons and Dorothy Perkins is unable to tap an additional £30 million banking lifeline and so is likely to go into administration next week putting 13,000 jobs at risk. The odds are that most stores will be bought from the administrators so the actual jobs cull, though painful, will not be as painful as some fear. Already the blame game has started but who is really to blame?

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Filthy Forty Walcom – urgent statement needed ASAP: is it bust?

Last Monday ShareProphets AIM-China Filthy Forty play Walcom (WALG) offered up yet another statement saying that again its CEO/CFO Mr Francis Chi had failed to offer up a bailout loan, that he still intended to do so (as he has since January!) and that in the absence of further funding it would be a one-way trip to the corporate undertakers last Friday, June 19. There was no statement on Friday, and here we are on Monday and there still has been no statement. Is Walcom bust or not? We need a statement.

Bagir Group – Ouzo time for Steve Moore as shares are suspended and company seeks insolvency advice

You cannot say that you were not warned here on ShareProphets, this time by the excellent Steve Moore who described AIM-listed Bagir Group (BAGR) as a avoid/sell HERE; this morning the shares were suspended as a significant proportion of the Company’s previous order book is now on hold or cancelled and the company takeinsolvency advice whilst it scratches around for additional funding and the business is no longer regarded as a going concern. In short, it is bust.

Bobby-Moore

BREAKING: West Ham Shirt sponsor the mini bond chancers Basset & Gold goes bust – we warned you all

I warned you on April, 2 2019 that this mini bond firm looked very dodgy and would end in tears. The FCA ignored me or did it?. My beloved West Ham certainly ignored me and many of its poor fans, having endured merde on the pitch all season, now  have to face up to the risk of massive financial losses as well. West Ham did not give a FF about its fans it just wanted sponsorship cash. Its despicable board would allow Satan as a sponsor as long as he had enough dosh. Anyhow, you read it all here first.

Bear
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Investment thoughts - CV19 Episode: Starting point - Liquidity and the ruthless cash up

A sophisticated private investor shares his thoughts on what do do now in the face of the current health and financial crisis...

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Top-10

Notes from Underground - Most read articles for the week ending 22 March 2020

Excluding ShareProphets Radio 27, the most read non-Tom article this week is Gold falls off a cliff. Anything to worry about? by Nigel Somerville, with a rare number one on the leaderboard or number 9 including Bearcasts.

Bearcast
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Tom Winnifrith Bearcast: Folks in the last village in Wales show how good they are as President Trump faces a $40bn Boeing challenge

I start with a few thoughts on how folks here in our village are showing their good side and how some businesses in doing so and adapting are showing the way forward for capitalism. Then I look at the Boeing, British Airways and Easyjet (EZJ) bailout conundrums facing our leaders. Easyjet has just scored a big own goal on that front and almost deserves to perish, hence the share price move today. I look at Crest Nicholson (CRST) and also at R4E (R4E) which is either a five bagger or bust.

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ALY
ALY
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Coronavirus comes for the elderly and infirm companies as well – Laura Ashley goes bust

Oddly, shares in Laura Ashley (ALY) crashed before they were suspended at 10.32 AM on news that administrators were to be appointed at the PLC and trading subsidiaries. But as this is the London stockmarket there can be no suspicion of any insider dealing can there? No sniggering at the back please.

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The Cineworld sinking ship – Helen Weir jumps overboard

Chris Bailey and I have warned repeatedly that Cineworld (CINE) looks to be a car crash and may well go bust. In the good times it has racked up vast debts and now we are all self isolating and its movie theatres are empty. It is a recipe for disaster. And so we turn to NED Helen Weir.

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Canadian Overseas Petroleum – Placing or bust? (bust please – this company is pointless)

Canadian Overseas Petroleum (COPL) has the honour of being in my crap quartet of utterly worthless and pointless oil and gas companies. I commented in June on this piece of shit noting the company had declared a need for unrealistically substantial funding via equity placings over the following 12 months. It’s now out of cash, again. Why bother with a placing to keep the lights on?  

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Dead-Donkey

The Ghost of Folli Follie – Links of London goes tits up

You will remember our extensive coverage of Folli Follie the Greek fraud exposed by Gabriel Grego, one of my free podcast guests today,  How I remember being chased from its HQ  20 miles North of Athens by security guards trying to grab my camera! The ghost of Folli Follie (now in administration) is back in the news as Links of London, a British chain it owns  has itself gone into administration. 350 jobs are at risk.

TED
TED
PREMIUM CONTENT

Could Ted Baker be a zero?

I ask a question which a year ago would have been something you would not have thought of asking: could Ted Baker (TED) go bust. Its shares, £17 a year ago, now trade at 470p valuing the business at just £212 million.

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Bearcast
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Tom Winnifrith Bearcast: Will AML go bust a 7th time & musical chairs at Purplebricks

In today's podcast I update on the farce at Bahamas Petroleum (BPC), look at Metro Bank (MTRO), Purplebricks (PURP), Aston Martin Lagonda (AML), Yolo Leisure (YOLO) and congratulate my pal Gabriel Grego on another triumph at Bio-On and I also look at the latest pompous whitterings from the poltroons at ShareSoc about Burford (BUR)

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PREMIUM CONTENT

Tern – Interims finally arrive and they are truly awful. SELL

Jibed by me yesterday, AIM-listed jam-tomorrow investment company Tern (TERN) has finally got around to releasing its interims and as suggested the numbers are truly awful. Indeed, without a placing or a disposal it looks set to be out of cash by Christmas despite the placing to raise £1.5 million (with 10% costs!) shortly after the FY18 umbers were released. So much for being fully funded to the end of this year, as we were being told last year. When’s the placing and what will be the discount demanded by the bucket shops? Or will Tern just go bust?

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Piers

EXCLUSIVE: Shamed Dragon's Den flop Piers Linney of Outsourcery infamy wants to teach you how to create a winning business!

What next? Boris Johnson running courses on marital fidelity, Bill Clinton lecturing us on women's rights with his pal Jeff Epstein? i despair. Anyhow, former BBC media darling, Dragon's Den flop Piers Linney claimed to be worth £100 million despite the string of business failures we exposed here. At AIM Casino listed Outsourcery, which we relentlessly called out by myself as a POS and which went bust, Linney burned through £21 million of other folks cash. Now, as you can see below, he wants your cash to teach you about how to start and grow a business. Whatever....

Curse_Of_ShareProphets
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How soon will Woodford Investment management go bust?

In short it all depends on the greed of Neil Woodford himself. Let me explain.

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Does anyone have a Scooby as to why Inspirit is sharply higher?

I have to admit it: I haven’t a clue why shares in AIM-listed Inspirit Energy (INSP) are hugely up today. The shares opened at 0.0225p and motored as high as 0.055p. They currently sit at 0.045p, up 100% on the day. But there has been no news and I am not aware of any imminent news. So why is the stock up so strongly?

Inspirit – Pleased to announce interims. It shouldn’t be – SELL.

News from the boiler room this morning is that AIM-listed Inspirit Energy (INSP) is pleased to announce its interims. I’m not sure why – they are awful! But perhaps the pleasure relates to the fact that they are out at all, for the numbers show a deficit of net current assets. Is it bust yet?

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Purplebricks – catastrophic warning: target price 0p

You cannot say that this site has not warned you repeatedly. But some folks like Neil Woodford knew better. Britain's top share blogger (mornings only), Thirsty Paul Scott, was also a fan and we know how accurate his analysis is. I don't know about Scott but Woodford has been averaging down aggressively. Neil always knows better which is why he is worth £37 million a year. Today we have another high profile horror story for Britain’s most conceited fund manager & yet another shocker for the nation's thirstiest share blogger, with a truly shocking lack of profits warning. I shall explain below why this makes the target price 0p....it is enough to turn a man to drink.

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Bearcast
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Tom Winnifrith Bearcast: From 5.30 tonight think of me dear listeners as I undergo sheer torture

I start by explaining that torture and it involves sociology lecturers. I then move onto explaining why Roland "fatty" Cornish is the utterly unacceptable face of crony capitalism. Then moving from the undeserving rich to the needy,  I ask you to give a few quid to Woodlarks HERE. I then look at Frontera (FRR) where the silence is deafening, Amur (AMC), Audioboom (BUST), Angus Energy (ANGS), UK Oil & Gas (UKOG), F*ck Yu (YU.) and finally at Gulf Marine (GMS) which is about to discover that just because it is Christmas that won't stop the banksters being total bastards. There is no season of goodwill for that profession.

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Bearcast
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Tom Winnifrith Bearcast: is there a massive & growing black hole at Purplebricks?

In today's podcast I look at Purplebricks (PURP), Neil Woodford's cash woes, re BTG (BTG), MySquar (MYSQ), Fishing Republic (BUST), Bushveld Minerals (BMN), who's a naughty boy then Fortune?, Quadrise Fuels (QFI) and at Sound Energy (SOU) which even at 13p is a verry poor risk reward play.

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Bearcast
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Tom Winnifrith Bearcast: Andrew Monk you are just naive, go on and be a spiv!

In today's bearcast I start with an explanation about how the share price of FinnCrap (FCAP) is just articifial. I then look at ImageScan (IGE) which is not a bad company but why is it on AIM? Then onto Thomas Cook (TCG) and also Audioboom (BUST). In the case of the former my old pal Andrew Monk of VSA is just naive. I suggest he should be a spiv and sell.

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Bearcast
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Tom Winnifrith Bearcast: Might Chris "Three Brains" Bailey be wrong about Thomas Cook? Are the shares really worth only 12p?

I start with the news about the olive harvest. When you get the full financial report you will laugh. I almost did. I am almost tempted to get Neil Woodford to invest in it. Then I discuss Thomas Cook (TCG), Audioboom (BUST) and Tekmar (TGP), another disastrous IPO on the AIM Casino. I also discuss the battle between the metropolitan elites and the rest of us ref. France, but also the UK and Brexit.

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Bearcast
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Tom Winnifrith Bearcast: Will Audioboom go bust by Christmas & about that Sosandar placing...

In today's extra long bearcast my swearing is minimal and I start with the rather bleak macro picture. How long will the sell-off continue, what is causing it and what should you do?  I then look at Audioboom (BOOM OR BUST), Sosandar (SOS), Wey Education (WEY), Frontera (FRR) and Babcock (BAB). You can book free seats to grill Sosandar, Nigel Wray etc on December 3 HERE

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Crack out the ouzo Fishing Republic goes tits up

Just when The Sheriff thought the coast was clear to jump on a train to the big smoke, AIM-listed (pro tem, at any rate) Fishing Republic (FISH) saw its shares suspended by AIM at 1.20pm pending an announcement. Uh-oh! But it gets worse and I fancy The Sheriff is set to enjoy an extra ouzo tonight after taking Dominic Frisby, Premaitha and Falanx apart.

AVN
AVN

Avanti - Calling all morons: back our bailout with more of your cash. PS We will probably still go bust anyway

How the bombastic Welsh prick David Williams, the former CEO of Avanti Communications (AVN) must be laughing today. Having sold millions of pounds worth of shares himself at almost £8 as he urged others to buy, pushing ramptastic broker notes out for everyone to see, the ruin he left is today fully exposed. But Williams has made £15 million from this wheeze so he's happy.

Strat Aero signs "Significant commercial agreement" - really? But what about the looming insolvency?

Today's pre-placing ramp is for serial offender in this regard, Strat Aero (AERO). The totally insolvent AIM dog boasts that it has signed a "significant" Commercial Agreement with Alnahdi Aviation Technology , experts in aviation technology in the Kingdom of Saudi Arabia to collaborate on establishing a UAV Training Centre in the KSA." Fab. So how much will this bring in? Er...

PRG
PRG

Want to Get your cash back on the Paragon Diamonds AIM Casino fraud & bust - legal case now imminent

Investors who have lost £900,000 on the Paragon Diamonds (PRG) fraud and bust are now lined up to sue the hapless Nomad ( Northland with QEs Gerry Beaney and David Hignell overseeing the shambles) as an update from class action litigation arranger Peter Petyt sent this morning, makes clear. However we need more folks who were conned to join the party URGENTLY and for two reasons:

Blur - no improvement in trade, admits could be bust in 3 weeks, A Grade corporate horse spouting

It walks the walk and talks the talk when it comes to spouting A grade corporate horse. And so another day comes with another trading statement from the shamed and hapless Phil Letts and his worthless Blur Group (BLUR). There are KPIs aplenty and stacks of words about new business initiatives. Yadda, yadda, yadda. The main point is the admission that could be bust within three weeks. TOLD Y'ALL!

ADL
ADL

Andalas raises £600,000 - which means net cash is less than ZERO - it's still bust & worthless

With some great investigative journalism of which this website would have been proud, Brokerman Dan flushed it out a few weeks ago. The former bank robber - correctly - stated that Andalas (ADL) was looking to raise £1 million at 0.06p and the AIM listed crock of shit suspended its shares. Today they are unsuspended after the company raised £600,000 at 0.1p. It says this is at a premium to the suspension price. But it is a spoof, Andalas is still bust. It is insolvent as of today!

Crack out the ouzo, 100% vindication as TrakM8 bailout placing gets underway, investor misinformation confirmed

This morning, after a series of profits warnings, AIM uber dog TrakM8 (TRAK) has announced that there is a bookbuild underway on a £1.66 million bailout placing at just 65p. The shares are now 67p bid so you'd be a moron to participate but conversations are being had between institutional morons and hapless broker FinnCap right now, not withstanding the fact that today's statement lays bare the Nov 28 interim statement as 100% misleading.

WRN
WRN

A Second Letter to the Insolvency Service - explicit evidence that Aidan Earley ( banned as a director) was a shadow director at Worthington

Yesterday I asked the Insolvency service to open a formal enquiry into whether Mr Aidan Earley was acting as a shadow director of Worthington (WRN) at a time (when he was barred as acting as a director. If Aidan is guilty he faces up to two years in jail and could be on the hook for Worthington's liabilities (including its vast pension fund deficit) when it went bust. Time to put the Surrey mansion on the market? For I now have a killer email which I have forwarded on to the insolvency service as you can see below.

African Potash - the fraud raises another £26,550 but who was mad enough to pay 0.045p?

This smells all wrong. Shares in African Potash trade (AFPO) trade at 0.02-0.04p on the NEX lobster pot after being booted off AIM. Since January 9 there have been just 23 trades of which only 2 have been at more than 0.045p. In February there have been seven trades and the most recent to sell have been at just 0.021p. Yet today the company has raised money at 0.045p. Who is that mad?:

Crime-Scene

Charlatan Darren Winters Coughs up costs but even at the last tries to cheat us out of 40p - think again pal

I am delighted to say that the snake oil salesman Darren Winters, slammed by the ASA for telling blatant lies as we revealed HERE last week, has decided not to appeal against his latest court room thrashing by one of his victims, a case we funded. Given the Judge's damning verdict in Snake Oil vs Mr O, that was a wise call by the Charlatan. But even now he is trying to swindle us out of 40p. Think again Darren and your frightful wife Tatjana, the Foxy Legals are on the case.

African Potash - small fund raise is an admission that it is bust: size does matter Lyin' Chris

Yesterday, the lying fraudsters at African Potash (AFPO) announced that the now NEX Markets listed company had managed to raise £125,000 gross - this is an admission that it is bust. I refer you back to the annual report that it snuck out at no-one is watching O'clock around Christmas. As a bonus the RNS of yesterday afternoon contained one slam dunk lie from CEO lyin' Chris Cleverley and his pal the senior NED Lord Peter Hain of sleaze. But I guess no-one cares any more. Lets revert to the notes to the last audited accounts which came out at Christmas. RSM Tenon states:

NYO
NYO

Nyota admits it is bust it's in black & white - seeking emergency loan

Nyota Resources (NYO) has published a quarterly statement showing that it is completely bust but in this crazy world someone is considering giving it an unsecured loan. This is all bonkers.

Strat Aero Interims - it is bust, plain and simple

Lying to your investors is bad. I suppose committing fraud is even worse. But advisers without morals such as Nomad SP Angel and broker Beaufort Securities do not care about such matters as long as they get paid. But that may pose a problem as interims today from Strat Aero (AERO) show that it is completely bust. That SP Angel and Belfort will sign off on an RNS like this says everything you need to know about them. The only thing they should be signing is a resignation letter as Strat is bankrupt both morally and financially.

NYO
NYO

Nyota - is it bust yet? Real pain for those who fell for the recent ramping

Nyota Minerals (NYO) shares have been pushed ahead in recent days and weeks by the usual insane ramping that typifies the bottom end of the AIM Casino. Today came reality - final results which showed how the former management led by Richard "piggy" Chase had spunked all the cash. Those mugs who paid up to 0.07p in recent days must be feeling rather sore with the shares at 0.045 to sell... and still falling.

CAF
CAF

Filthy 40 China Africa down 36% today: how long until it is bust?

Leading the losers board today currently is ShareProphets AIM-China Filthy Forty play China Africa Resources (CAF) with (last seen) a stonking drop of 36%. There is no news today, but yesterday’s interims, released at lunchtime, might provide the clue: it’s not pretty – the company needs to raise cash.

HNR
HNR

Highlands Natural Resources partner Calfrac - how close is it to going bust?

Shares in Highlands Natural Resources (HNR) jumped sharply last week on news that its DT technology had been licensed to a large Canadian firm Calfrac. Great. Fabbo. What's the problem? Er.....

Environmental Recycling - it cannot even afford 1,575 Euro as it drowns in debt - it is bust, call the administrator

I pointed out yesterday that Environmental Recycling (ENRT), the company formerly known as 3DM and which is the only AIM company to have been censured not once but twice by the FSA (now the FCA) for lying to investors was drowning in debt and out of cash. Just to show how out of cash it is, I point out that it cannot even afford to pay a vital bill for Euro 1,575.

BHS
BHS

BHS goes bust - why Sir Philip Green's brand of capitalism is not acceptable, he should be made a pariah

BHS started with 1 store in 1928. Today it employs 11,000 folk and operates from 164 stores. And it has just gone bust. The blame lies not with the current management but with Sir Philip Green who sold BHS to today's bosses for £1 a year ago.

Nighthawk – April Fool backfires

On April Fool’s day last week, AIM-listed Nighthawk Energy (HAWK) provided the market with a 7am RNS. There was good news and bad news. Or, rather, not-quite-as-bad-as-it-might-have-been news, and very bad news indeed. Unfortunately the better bit was corrected yesterday afternoon. An extended April Fool, then.

SEV
SEV

Tom Winnifrith Bonus Bearcast - RNS from Servision today was bollocks, so was the last one - this company is bust

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.

SEA
SEA

SeaEnergy ‘fesses up to self-inflicted dire financial position. Blow me down with a feather….

I’ve been classing AIM-listed SeaEnergy (SEA) as an outright sell since last September (see HERE) at 5.5p bid, but was bearish as long ago as last June at over 12p (see HERE). This has been an accident waiting to happen for months and this morning came the grim news.

IRG
IRG

Independent Resources - you are being spoofed, do not fall for this trick

Independent Resoures (IRG) is almost bust and will do a placing to keep the lights on very soon. But its shares are up by 185% today at 0.3p thanks to an RNS which is a spoof aimed at fooling mug punters. It has worked, never underestimate the stupidity of AIM investors.

NOP
NOP

Northern Petroleum - Tells us about the Alberta Bonds & when you expect to go bust?

Northern Petroleum (NOP) shares have slumped again today by 13% to 2.25p-3p. I fear it is going to get an awful lot worse with 0p a perfectly plausible target price. There are two problems.

Bearcast

Tom Winnifrith Bearcast 29 January: Wandisco needs to issue an RNS NOW!

Is Wandisco (WAND) negotiating a trade sale as I hear or is it going bust? Either way it needs to issue an RNS now. Elsewhere I wander back to the days of Turnip Townsend to discuss why deflation could be the new norm in light of news from Tokyo overnight. At a company level I cover ITM Power (ITM), Proxama (PROX), Condor Gold (CNR), Peer TV (PTV) and the over ramped shite that is Glenwick (GWIK)

Inspirit Energy – look at the competition and tell me Inspirit is not a joke

Last week I pointed out that Inspirit Energy (INSP) is merely a relaunch of a company that went bust and as such any claims that its IP was either revolutionary or valuable were likely to be spurious. Just to demonstrate this compare its offering with that of a listed competitor

ADL
ADL

Is Andalas (CEB Resources) already bust or just very close?

Oh dear, things look utterly grim for the grotestquely over-ramped Andalas Energy (ADL) formerly CEB resources (CEB) - interims out today imply that it is now more or less bust and its shares remain suspended.

NOP
NOP

Northern Petroleum insists it wont run out of cash - I disagree

Northern Petroleum (NOP) has today announced it has completed its Rainbow deal in Canada and hapless CEO little Keith Bush has insisted that cash is not an issue. The, heavily spun, statement skips critical details and the fact is that Northern will be out of cash a lot sooner than most folks think. This looks terminal.

Bearcast

Tom Winnifrith Bearcast Extra: Dear George Osborne dont bail out the North Sea with MY cash - let it go bust

I continue the theme of what capitalism really means from yesterday's bonus bearcast on the news that North Sea oil companies want Chancellor George Osborne to use your hard earned cash to bail them out. I explain why the Chancellor needs to ignore this completely even if it means that the North Sea basically goes bust taking a number of listed companies - I mention XCite (XEL) specifically - with it. Sorry, I don't care if Aberdeen becomes a ghost town. Taxpayers from the profitable part of the economy should NEVER subsidise loss making sectors, be they milk farmers, oil companies or the Yorkshire coal miners that the great and much missed Maggie Thatcher quite rightly put on the dole.

CNR
CNR

Condor Gold - Lack of Offer Period over - it's screwed

Back in September ailing AIM listed gold dog Condor (CNR) announced that it was undertaking a strategic review and was in an offer period. Today it says both processes are over. It was bollocks from the start, you can't polish a turd and this company - of which I have been a long term bear - is screwed. It is almost game over. It will be lights out in May.

Bearcast

Tom Winnifrith Bearcast Extra: USA bubble, boom or bust?

I take this as a reader request. Happy Birthday K. So is the USA booming, a bubble or bust. I do my best to answer.

Bearcast

Tom Winnifrith Bearcast 30 December: Daniel Stewart (bust) the joke goes on, Rob Terry, gay bars & Jabba The Hutt

Sorry that material appeared late on this website today. I was out last night at a play on Christopher Street which some of you may well know well - that explains one part of the headline. Elsewhere I look at interims from Daniel Stewart (DAN) which is just a plain farce. Then onto Afriag (AFRI) and the attempted bribe and LGO Energy (LGO) the two Jabba The Hutt plays. Fraudster Rob Terry was a big fan of Daniel Stewart and also of Imaginatik (IMTK) which I discuss. Fitbug (FITB) is mentioned as - in more detail - is Scancell (SCLP) which seems to be pump priming for a placing.

GSR
GSR

Golden Saint Resources - Operational Update fails to mention Elephant in Room - its bust!

As we have pointed out numerous times, the crowd funded debt death spiral has failed. Golden Saint Resources (GSR) managed to raise a net £159,000 two weeks ago in a bucket shop placing but is still completely out of cash. It is bust. It is trading while insolvent. Yet still the pretence goes on with an "operational update." What bollocks.

Collapsing-Reactor

Is the next Chris Oil lobster pot disaster Mkango having some problems - AIM listing delayed

Oh dear, poor little market abuser Chris Oil - it seems that the AIM listing of his latest disaster Mkango Resources is running into a spot of bother. I pointed out here that without a fund raise the company would be BUST as soon as it listed. It seems that the news is now getting worse.

LGO
LGO

LGO Energy: NED walks, bank not pulling plug, not bust yet

Call it a dead cat bounce. Shares in LGO Energy (LGO) have bounced to 0.5p on news that the bank is not pulling the plug so it is not bust. Yet. Jabba the Hutt, aka David Lenigas, still refuses to saw when he sold most of his shares but it was a good call by Big Dave to get out when he did because the outlook is still grim.

GSR
GSR

Golden Saint Resources completes placing but is still insolvent

How long can this joke go on? Floated at 10p, 18 months ago shares in Golden Saint now trade at just 0.035-0.04p as it has announced a placing to raise a £170,000 ( net £158,000) at 0.025p but it is still bust, insolvent, dead. What’s the point? Death is postponed but only for a few weeks.

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