As we marched on Saturday, the Rogue Bloggers discussed this and that. As he sobered up, even Lucian Miers joined in the conversation, and asked whether he should short Avacta (AVCT). The answer is yes, and here is why.
I commented on April 22nd that AIM-listed Pure Gold (PUR), also of the Toronto parish (PGM), in the wake of the admission that without bailout funding it would essentially be toast, that you should take advantage of the market’s stupidity (in marking the shares up to 15.75p) and sell, and that it would be lucky to raise money at more than 10p. And so this morning……
AIM-listed Catenae Innovation (CTEA) was suspended from trading on Friday morning as it was unable to publish its FY21 Accounts to September 30 by deadline day. I can’t say I didn’t warn you – the only surprise is that it has taken this long for a suspension.
Toople (TOOP), the sub-standard listed company, today issued an RNS about “debt financing”. And in that RNS, the CEO lies. Never buy shares in companies where the CEO is shown to tell a lie, as there are bound to be others you are unaware of.
Parsley Box (MEAL) has served up unaudited 2021 numbers which are mouthwateringly awful and announced a £5.9 million placing and £1.1 million open offer which is not underwritten. The price of 20p is a small premium to yesterday’s close but a big discount to when FinnCrap started scuttling around the City with the begging bowl out.
There is an awards ceremony on Thursday of this week for the Investment Week Investment Company of the Year 2021. Black ties, coke and hookers will be at hand as the investment industry has a jolly but one finalist’s name really sticks out: Edge Performance VCT! It seems unbelievable that Investment Week would seek to reward failure in such an extravagant fashion, but look under VCT Specialist and there it is.
Jubilee Metals (JLP) has been stressing how profitable it will be this year and how next year it will be so profitable that it could pay a dividend. Obviously with Colin Bird as chairman talk of profitability and dividends can only mean one thing. Yes….its another placing! Knock me down with a feather. But this one begs two big sets of questions:
Darktrace (DARK) floated on May 4 at 250p. Great play was made in the lengthy prospectus of how stacks of existing shareholders were locked in, legally bound to hold their shares for 6 or 12 months. Except this is all meaningless gibberish.
Yet more red faces for Andrew Monk and his team at VSA Capital which launched this abomination on the stockmarket and still acts as its adviser. But I guess that coke and hookers don’t pay for themselves and a man’s got to do what a man’s got to do. What a total shambles! Sub-Standard-listed AIQ (AIQ) has announced the result of its strategic review this morning – this as a result of the disastrous reverse takeover of Alchemist Codes to add to the original and equally shambolic IPO on the sub-standard list back in 2018 which saw the stock suspended for most of its first six months on the market.
I have been ploughing through the prospectus for previously Aquis-listed Imperial X (IMPP, now CDL) regarding its move to the sub-Standard List. It looks like a shambles, as it was supposed to have changed name in the process (but hasn’t yet) and the myriad of conflicts of interest is just grim. If ever there was a sign of the top of the market, this IPO is surely it.
Say what you like about serial penny share spiv Chris Akers but if there is a bandwagon to be jumped on he is always the first to hop on board and usually, having taken his grubby turn as gullible private investors pile in, Akers is the first to exit. And that brings us to SPACs and one in particular.
I am rather glad I do not hold shares in AIM-listed Kore Potash (KP2) for if I did I would have been fuming at 6.30pm last night – no-one-is-watching o’clock – as the company announced the result of its proposed placing at a mammoth discount, and – to add insult to injury – oversubscribed. Not only that, but it was an institutional tin-rattle so only the great and the good get a look-in at bargain basement prices. You ordinary shareholder plebs obviously don’t count!
After years as a serial AIM dog about which we repeatedly warned, Mountfield Group (MOGP) is now a cash shell c/o a Peterhouse Corporate Finance Special. A recent placing at 0.1975p has allowed many of the spiv, sewer dwelling, clients of Peterhouse to flip their stock for a quick turn. For them and also the advisers who racked up costs of c£300,000 on the £3.1 million placing it is coke, hookers and in many cases warrants all round. Yum Yum. But this is perhaps not a total tale from the sewer.
How do you know when sleazy former Tory MP Tim Yeo is lying? Simple: his lips move. Let me give you an example as, the firm he chairs, Powerhouse Energy (PHE) today raised £10 million at 5.5p, a 35% discount, thanks to bucket shop broker Turner Pope. Whilst it is coke and hookers all round as Turner Pope considers its £500,000 commission, I want you to consider this statement from 9 September 2020:
Try as he wanted, Neill could not quite rid his mind of thoughts of that ghostly apparition, the ghost of Christmas past. He tried counting sheep. But more and more of his shareholders kept running away. So he tried to count RNS statements about bogus deals and collaborations that had never amounted to anything. He started with non-deals from 2013 and this game kept him going for a good three quarters of an hour but at some point in mid 2017 he lost count. And at that very moment, the windows once again burst open and the room was filled with freezing cold air.
The time to invest in a sector is when everyone loathes it. Think oil earlier this year. The time to avoid it like the plague is when it gets so hot that crony capitalists float investment companies hoping that mug punters will overpay for shares in their vehicles which will then overpay for shares in actual companies. Meanwhile its snouts in the trough all round for the board and City advisers.
The AIM statistics for November 2020 are out and show that the market declined from 821 companies at the end of October to 820 companies, with 5 cancellations and 4 admissions (i3 energy appeared in both categories). This marks a net decline of 43 companies since December 2019.
Wishbone Gold (WSBN) has announced the raising of £1.75 million before coke and hookers fees at 10p. For each two shares subscribed for the investors get one warrant at 12p and if the share price stays above 16p for 5 days they must exercise or lose the warrant.
Yesterday on castings and engineering company Chamberlin (CMH), here I noted a massive contract loss and financial red flags fluttering. Today an announcement of research “Chamberlin (CMH): Trading update ‒ main businesses performing solidly”. You what? Hardman is ‘avin’ a giraffe is it not?
Advisors to AIM listed companies get paid fees. Moolah. Money. Hard cash to spend on coke and hookers. That is the way of the world. But, for some folks, that is not enough.
700,000 folks have lost their jobs since the start of lockdown. And as furlough unwinds and as Boris plunges us, for no reason, into another lockdown there will be many more having to sign on. Among those folks who have kept their jobs many have seen pay ciuts. Just two sectors have seen pay rises: the public sector including the BBC (natch, as they are all frigging heroes) and banking and finance. Showing an honourable candour, Andrew Monk the boss of VSA Capital admits as much.
Standard listed Cobra Resources (COBR) is the sort of enterprise that gives Aussie stock promoters a bad name. It has two brokers to pump the stock and do placings as often as possible, the esteemed blue chip houses of Peterhouse and SI Capital. Lots of placings, lots of dilution, but lots of commission, coke and hookers all round. It also employs THREE firms of the calibre of LSE Share Talk to pump the stock to mug punters. But an RNS release of 17 August surely goes a step too far.
I have warned and warned that AIM-listed Haydale (HAYD) would need more money and as ramptastic RNS after ramptastic RNS has been issued by the company as it has joined the Covid-bandwagon, despite a calamitous profit warning in April the shares have been rising and rising. Today, they stopped going up: is there a placing on the way? Do we need a statement from the company?
Of course not! The last reported NAV of AIM-listed jam-tomorrow- next year-never IoT investment company Tern (TERN) was 7.0p, as stated in its FY19 results. This followed a year during which the company raised £3.25 million at a premium to NAV, but still saw a reduction in NAV per share. I guess that is operational gearing at play!
Up in the high woods of Montana, just below the snow line, today’s listing of AEX Gold (AEXG) will surely cause stirrings of unrest for our in house gold loon Nigel Somerville. Or maybe a grizzly has eaten the wires to Nigel’s satellite dish and he is blissfully unaware of today’s events.
On Thursday last week AIM-listed Eqtec (EQT) announced a placing and PrimaryBid offering which raised £10 million at 0.45p, a 33.8% discount. That will have hurt existing shareholders, but not as much as the new shareholders who today woke up to learn that the company is in receipt of a filing of legal complaint alleging patent infringement in California from Aries Clean Energy LLC. And the two are unconnected?...
Drowning in debt Cineworld (CINE) was in a hole when Covid struck. It had agreed the $2.1 billion purchase of the Canadian chain but with all of Cineplex’s theatres going darker than Justin Trudeau’s face on party night, thanks to the shutdown, and with Cineworld’s existing 787 theatres also shuttered, going ahead would have been financial suicide.
On April Fool’s day there was an upbeat statement from Nostra Terra (NTOG) promising all sorts of good things. What it neglected to mention was that trade creditors had risen to £230,000 as the cash burning enterprise had no cash and so imply could not afford to pay its bills. One of those owed cash (£60,000) was Nomad Strand Hanson, boy how it must have been hoping for a placing….
With markets in turmoil over the corona virus, it is a terrible time to be rattling the tin for cash-guzzling AIM stocks. And that brings me to jam-tomorrow Iot investment company Tern (TERN): how much cash has it got left and when's the placing?
I had been wondering what was going on at AIM-listed Conroy Gold and Natural Resources (CGNR). At the turn of the year the shares were languishing at just over 5p and raced ahead to around 15p until last Wednesday when the shares staring slipping. Of course there is no insider dealing – this is AIM after all – and surprise surprise this morning we learn of a placing and subscription to raise a poxy amount of cash to feed the electricity meter.
Shareholders in Sound Energy (SOU) have lost more than 95% of their cash thanks to the appalling ramping and hype and value destruction of just one man…James Parsons. The Sound fiasco would kill off the careers of most CEOs but Parsons is like Dracula, he leaves one rotting corpse behind moving to suck the financial blood from a fresh corporate. Today’s victim is Ascent Resources (AST).
One clown is Justin Waite from Vox Markets the other is Mr Tumble who entertains folks Joshua's age on CBeebies. I explain the two big differences betweeen the two Justin the Clowns. I look at a classic feck up by London's worst Nomad Roland "Fatty" Cornish. poor man, he has a lot on his plate right now. I look at Andalas Energy (ADL) what the broker coverage of Petards (PEG) shows about the cesspit in the City and I cover just wholly unacceptable executive greed at Coro Energy (CORO). I forgot to mention crony capitalist greed at Toople (TOOP), a coke and hookers event for City spivs but you can read about it HERE. I do, however, comment on NMC Health (NMC) and Finablr (FIN).
Perma dog Toople (TOOP) published its Prospectus today so I took a quick look through the tome and draw out some interesting elements below. Suffice to say the document is strewn with red flags and unanswered questions but demonstrates quite clearly the unacceptable greed of certain City advisors. They will prosper from this deal. Those owning the shares will not and this stock is utterly uninvestable at any price. So here is today’s list lof red flags and questions from the document.
Last night I was flamed on twitter by a host of Eurasia Mining (EUA) investors, a group who made your average Versarien (VRS) investor look like a true multi brained genius. I kid you not. One wanted me to hire him as a journalist as he had posted a few comments on BBs about Eurasia and that, he thought, qualified him. Another said I couldn;t be a proper journalist if I did not interview Eurasia, preferably by flying to the Indaba coke and hooker fest. And so it went on. The fact that Eurasia lies to investors ahead of fund raises & abuses market rules in private chatrooms was dismissed as irrelevant. Anyhow this is a hint as to where to seek out a winning entry in this week's contest. What is the most moronic post you can find on the ADVFN, iii or LSE Asylums or on twitter? Entries should be posted in the comments section below with a deadline of midnight on Sunday 26th.
How different it was eighteen months ago when Investec raised £62.5 million at 160p to IPO Theworks.co.uk (WRKS). Just think about how much coke and how many hookers you could snaffle from crony capitalist Investec’s fees on that deal! Hmmmmmm. You bring the hookers, I’ll bring the Charlie, the lads at Investec are ‘avin’ a party. Today, after just avoiding yet another profits warning, the CEO has been resigned with immediate effect and the shares are just 33.9p. Ouch.
We have been warning that Purecircle (PURE), a company once valued at a billion dollars was a disaster waiting to happen for more than six years. The shares were already suspended over the inventory fraud, now other “matters of concern” have emerged and the CEO is stepping aside pro tem. This company is almost certainly toast. City adbisors named below should hang their heads in shame and return fees, directors should go to jail.
This operator of 525 outlets flogging gifts, arts, crafts, toys, books and stationery raised a stonking £62.5 million at 160p, c/o crony capitalists Investec in July of last year. Just imagine the fees it earned on that deal. Coke and hookers all round. After a profits warning today shares in TheWorks (WRKS) are just 44p and the company will pretty soon be in net debt, in fact I suspect it already is. Yikes. Cue the ShareProphets National Anthem below….
On Monday I revealed HERE that Bahamas Petroleum (BPC) was trying to raise $25 million and had already had to cut the price from 1.4p to 1.2p. Bahamas tried to deny there was a placing afoot via RNS but I published an email in response calling that out as a GREAT BIG FUCKING LIE HERE. Oh dear, it seems that things have gone from bad to worse.
Hapless Nomad Cairn Financial of Cloudtag (CTAG) infamy has been contacted by both email and phone, to establish whether it has done, as it should do under FCA Rules and contact the FCA regarding suspicious share trades ( i.e. insider dealing) in ADM Energy (ADME) by Dubai Royal Shaikh Ahmed Bin Dalmook Al Maktoum. There has been no reply. To focus the attention of Tony Rawlinson, Liam Murray and Jo Turner round at Cairn, here is what appears to have happened. A timeline.
In today's bearcast I look forward to the new show on Wednesday which will be half recorded by the end of today. I cover Mortice (MORT) a tale of shareholder woe friom the AIM Cesspit, Kier (KIE), Dev Clever (DEV), Anglo African Oil & Gas (SCUM), Premier Technical Services Group (PTSG) and Mobile Streams (MOS), where I study what happens to cashflow when a company is near to death and the red flag gaps in today's trading statement.
Once upon a time, with its shares at 82p, Sound Energy (SOU) was valued at c£500 million. But no institutions were backing it, this was just a ruthless private investor ramp. It worked but you cannot keep plates spinning forever and drill failures in Italy and Morocco brought the shares crashing down. Today there was a final kick in the gonads for the mug punters suckered in by CEO James Parsons and others.
I start with a discussion of the gender pay gap in football and why it is so much hogwash. Then I look at Neil Woodford and the useless FCA. Then I cover two stocks I own, Fox Marble (FOX) and Venn Life (VENN), and two which I don't Ted Baker (TED) and then a long term target of mine MPorium (MPM), a tale of AIM woe.
In the dismal annual results for calendar 2018 published on May 9 Watchstone (WTG), Quindell (QPP) as was, claimed to go into great detail on the various legal cases it faces thanks to the activities of its former boss, the King of the Fraudsters, Rob Terry. Except it didn’t. On April 11 it suffered a massive blow in a C$30 million (£18 million claim if faces in Canada from Aviva. This it omits to mention in its finals but luckily I can bring you full court documents and a release from Aviva’s lawyers below….
A month ago shares in cash strapped Bahamas Petroleum (BPC) traded at 1.2p which was probably generous. for this company has struggled for years to secure the farm in partner it needs to drill its acreage in the Caribbean. But then things started to happen.
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.
Floated on the AIM Cesspit in May 2018 at 15p a share and raising £6 million Maestrano (MNO) describes itself as a “cloud business integration platform with cross-app data synchronization” I’d describe it as an univestable piece of shit.
This is a typical AIM Cesspit tale of woe and greed. CSF Group (CSF) listed on the AIM casino in 2010, a smallish Malaysian company of no interest to anyone. But the advisers raked it in with fat fees and fat promises to the board and shareholders. Coke and hookers all round in the Square Mile. Wind forward to August 28 last year.
Okay, he is a conceited, overpaid, arrogant mother so I don't really feel sorry for him but I explain his appalling problem at doomed RM2 (RM2). I also look at Inspirit (INSP), Sabien (SNT) and Tomco (TOM) all three of which should be taken out and shot as their sole purpose on the AIM Casino is as a funder for the coke and hookers used by crony capitalists in the City. I explain a flaw (or two) in Malcolm's thesis today as I look at three retailers in trouble: Marks & Spencer (MKS), Debenhams (DEB) and Mothercare (MTC).
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.
SVS Securities did a bailout placing for the fraud MySquar (MYSQ) days before its downfall, knowing full well that the company was a wrong ‘un. That had to be reversed PDQ as it emerged that the ex CEO had half inched almost a million quid.. Suffice to say it will act for almost anyone and its reputation is of being a thoroughly low grade and morally bankrupt operation. So when it quits an account to protect its reputation you know that the company in question is toxic. Welcome to long time uber dog Tomco (TOM)
Cynical Bear warned you that the 62p per share, £63 million, IPO of Mirriad Advertising (MIRI) would cause tears before bedtime. Obviously not for IP Group (IPO) which was able to justify its daft pre IPO investments in relation to that crackers listing price. Nor for Nomad and broker Numis or PR parasites Hudson Sandler which will have earned fat fees for the listing. Coke and hookers all round for the crony capitalists. But for anyone dumb enough to buy the stock since the IPO this has been a horror show. The shares are now just 30p mid, they have more than halved in ten months on the AIM Casino. So what’s today’s news? It is bad, natch.
That insolvent Andalas Energy (ADL) is undertaking a placing is no shock. It is insolvent with negative net current assets of at least £400,000 but thanks to some fairly sordid share ramping it has managed to raise a gross £1 million at 0.02p. The ramping of shares in this company with worthless assets is pretty unpleasant but what is laid bare in the news is the sheer greed of City advisers notably brokers Novum – of Jon Belliss and Gavin “I made £750k from Globo - Burnell infamy – and Optiva.
I know that MySquar (MYSQ) prefers to leak speculation and innuendo as news via the fraudsters poodle journalist of choice, Rob Terry's pal Ben Harrington, but perhaps the holocaust denying fraudsters might consider an RNS PDQ!
Via our broker,the London Stock Exchange (LSE) warned me that unless FIML and also my pension fund had what is called an LEI number by January 3rd it would be unable to trade. I filled in complex forms on behalf of FIML and applied. I handed over £138 including VAT and today FIML got its number.
The old goat has turned over a new leaf and today really sticks it to Blancco Technology (BLTG) in which he admits he has a trivial holding. I doff my hat to Lawson for that and his comments on the ShareSoc blog are spot on. Personally this company's revenue recognition policies stink so much that I'd have to rate it as a sell.
Companies that tell lies to investors are ones that should be avoided like the plague. If you pick a company up on one lie the odds are that there are stacks of others going undetected. That brings me to Applied Graphene Materials (AGM) where I will demonstrate a slam dunk lie. Then we will turn to its looming cash crisis.
I have in my hand a little piece of paper which means peace in our time said Andalas (ADL) boss Dave "the rule breaker" Whitby as he announced yet another great deal for his company. But like all the other pieces of paper that he has waved in front of his labotomised army of groupies led by cardboard box dwelling sheep shagger Justin the Clown, it is just a worthless piece of paper - just like an Andalas share certificate. Hat tip to Brokerman Dan for that joke.
Another day and another director walks, a new strategy is adopted and yet more confetti is issued by AIM casino uber dog Mayan Energy (MYN), formally the hound known as Northcote Energy. But this latest move just makes no sense at all. Let me explain with a little bit of help from a friend....
I warned you in explicit terms yesterday that the doubling of the Strat Aero (AERO) share price to 0.14p on the back of results which can best be described as a shit sandwich with dollops of jam tomorrow on top, was not justified. The shares have now slumped back to 0.09p-0.11p (TW 7, BBMs 0 once again) but do not BUY now for there are still deluded fools abroad.
In case you missed it, last night was the The fifth annual Small Cap Awards' black tie gala in London. The crony capitalists from across the Square Mile gathered to say how well they had done being paid vast amounts to stuff dumb fuck investors into shite stocks, before the spivs departed for some late night celebratory coke and hookers. And boy were the crony capitalists doing well. Let's start with the winners:
As predicted over the weekend shares in Toople (TOOP) have collapsed this morning after Friday's after hours announcement of a £2 million fund raise at 2p. Suckers were invited to take part as the Friday closing mid was 3.25p. The spread now is 2p-2.5p so any flippers hoping to flip will be frustrated.
It seems to be perfectly acceptable for companies on the Casino to complete fundraisings inadequate to see them solvent. Yesterday at 4.22pm shares in AIM-listed Redx Pharma (REDX) were suspended “pending an announcement” by AIM Regulation (the RNS following at 4.35pm – bit of a rush there fellas?) At no-one-is-watching o’clock (6.35pm: after-after-hours) the company announced that administrators had been appointed - just 3 months after the company had apparently raised £12 million in a placing and open offer. Coke and hookers all round for the Nomad and Brokers concerned. Stale bread and water for those sold this particular pup.
I understand that just as I was publishing yesterday's bombshell on Mercantile Ports & Logistics (MPL) the company was having a phone conference call with the mugs who are invested in an attempt to drum up more support with promises of jam tomorrow. Sorry to rain on your parade chaps. Yesterday's expose should make any sane person run for the hills, but here are a few other matters to consider.
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.
Oh dear it may well be ouzo o'clock round at Sheriff Towers if not all round coke & hookers time, as it has just been pointed out that one of those silly folks who made the mistake of trying it on with legal threats appears to be in a spot of bother. Congratulations, you have just met the Sheriff of AIM....
I have warned you repeatedly (the archive is HERE) that AIM listed Magnolia Petrooleum (MAGP) is a dog with fleas that exists merely to keep its useless board in well paid employment and to provide coke and hookers money for the crony capitalists. It will never make money for shareholders. Hence today we see a laughable bailout placing. Death is merely postponed.
Jam tomorrow producer Bango (BGO) has served up a ramptastic trading statement which distinguishes itself by missing out all of the metrics a sane investor would want to know about. Lads, Ronan understands.
Last year Golden Saint Resources (GSR) waited until it got a placing away in late May to announce its piss poor results. It needed extra cash to satisfy the auditors that it was solvent, let alone a going concern. This year it seems that broker Cornhill could not bring itself to stiff its clients again - hats off to Frangos and team for showing some integrity. But bucket shop- SVS Securities has no such qualms and has raised £400,000 gross ( £371,000 net of fees to crony capitalists) at 0.07p. So I guess we can now see the results soon.
A curious filing has appeared at Companies House with regard to our dear friends at Daniel Stewart (DAN), the formerly AIM-listed company which used to be a Nomad, used to have a Nomad and which is still a Broker. Back in January a debenture in favour of the mysterious Asian outfit Epsilon appeared at Companies House: it seems that the parent company had entered into an arrangement with its largest shareholder in return for a charge over all its assets, as was covered at the time by Tom Winnifrith. Now we appear to have one covering all the assets of the only operating subsidiary.
Words fail me. You want a sure fire way to lose money then welcome to a new service launched by former City analyst Rob Mundy, Research Tree. It is in every way, shape or form an abomination which deserves to die at birth.
This may seem like madness but we increased our holding in Reach4Entertainment (R4E) last week by 50% with another market purchase becuase, not despite of, the way that conman Johnny Hon of Gate Ventures (GATE) infamy has got involved.
Malcolm First: Hello Share Squirmers. There could be pressure on people like me who write about shares. We could be approached by PR people who want us to write about their clients. Which means that they expect us to give positive reports to companies which issue shares.
On Thursday another tech crock of pooh floated on AIM - Defenx (DFX) - this is a tale of City greed and a shite investment.
This is disgusting. Directors of OEM (OEM) stole £6 million from the company before it went bust - see HERE. Accountant’s Baker Tilly sued them and the case was set to come to court next month. But do the City fat cats give a FF about creditors or shareholders? Of course not. A shoddy deal and a gagging order to protect fat cats and thieving director alike has just been agreed.
The Nomad to China AIM casino POS Global Market Group (GMC) was Grant Thornton. It quit on August 21. S with no new Nomad having been announced you would expect confirmation today this its casino life was over. There is no RNS.
Of the Filthy 40 China stocks listed on AIM on June 1 2014 or listed since, ten have already been booted off the Casino while shares in four are suspended. Of those three are suspended as the Nomad has quit. They sit on Death Row and the first execution, expulsion from AIM, is scheduled for tonight.
I am on such a high. But there is no coke involved. Or hookers. Heck I'm not a crony capitalist just a capitalist and I've had a cracking day so far as I explain. Then to Greece and China and why China matters and why the Chinese Canute's won't win. And then onto LGO Energy.
AIM casino cash munching machine Phorm (PHRM) today served up an “operational update” which is a load of bullshit in itself but what that means is that a placing will happen within days. Just look at the pattern.
A free meal for two at Free Speech & Liberty Pizza House in Clerkenwell is the prize in this week's contest. On the 19th the crony capitalists will be celeberating AIM's 20th birthday. How they will celebrate with black tie events, champagne, coke and hookers all paid for you.. the mug punters.
He sent me a string of lawyers letters but today Peter Landau lost his last AIM directorship as Black Mountain was booted off the casino. Hooray. Coke & Hookers for myself and Oakley tonight. I look at three other companies that may well go the same way, Insetco, Daniel Stewart and Gate Ventures and how the issue of Nomad resignation works. I also look at Advanced Oncotherapy, Torotrak and discuss when Uk Investor Show videos will start to appear - we will start very soon with a Horse Hill treat.PS You still have until 4.30 PM TODAY to enter the UK Investor Greek Hovel prize draw HERE
Deputy Sheriff of AIM, Nigel Somerville has just published evidence of total horrors at Tern (TERN) - HERE - which will cause private punters awful one month losses. The crony capitalists meanwhile get to enjoy coke and hookers all round. This is, at best, grotesque negligence and at worst it is outright deception. Heads must roll for this AIM Casino omnishambles.
Just a short podcast from me on the bruising events of last week with Audioboom (BOOM) - how it reacted, how any company facing hostile comment should react and why it all really does not matter in the end if Audioboom delivers operationally. Still no coke and hookers received from Audioboom as an apology but I wish them all the best of luck in 2015 anyway. I am such a nice guy.
You will note that the by-line on this article is mine. Just as it was on yesterday’s where I then reprinted the words of my pal Waz Shakoor. Presumably all the bears of Audioboom (BOOM) will now go attacking me too. What follows is actually a response from Audioboom CEO Rob Proctor. It is a response I asked him to pen.
Daniel Stewart is tonight having its Christmas party and has today phoned my colleague Kathy to say that she has been disinvited because of her association with me. As you know certain staff of Daniel Stewart have publicly threatened to beat me up because of my criticism of their POS firm for floating a series of frauds and for pointing out its own woeful financial position (shares suspended). Well bully boy crony capitalists here is your chance….
I have slated Motive TV (MTV) time and time again as an example of what is wrong with the AIM casino ( see today’s bearcast): time and time again this POS issues shares like confetti so its investors are diluted to oblivion and a few crony capitalists make a killing. Let’s force its hand. The paperwork is almost done on the latest deeply discounted placing and it has raised £800,000 at just 0.013p. Time for a rushed statement in the morning chaps.
The China fraud Naibu (NBU) has today served up a ghastly profits warning but it gets better – it has now changed its excuse as to why a company supposedly drowning in cash has had to scrap its dividend. But Nomad Daniel Stewart, the specialist in floating China frauds, has signed off on the ludicrous statement so that is alright then. Another £6,250 pcm retainer saved for Daniel Cesspit. Ching. Ching. Coke and hokkers all round.
Once again we were inundated with entries for the Quindell Bulletin Board Moron/twitter moron of the week contest. I was almost tempted to give a retrospective prize to this comment from March from a Mr R Terry of Hants “The only question is whether Quindell goes in the FTSE 100 or the FTSE 250, a main market listing is just a tick box exercise.” Rob that was a stormer but this week’s entries were even better – you can see all of the madness HERE And so to the winner.
Lest it not be forgotten, The AIM casino holds Equities First Holdings LLP (EFH) in such high regard that it not only allowed EFH to sponsor this year’s AIM Awards, but even got one of their number ( the witch Elena Clarici) to sit on the judging panel. What fine, upstanding citizens those fine fellows at EFH must be.
Redleaf Polhill, the PR firm for the fraud Quindell (QPP) is holding its "tech showcase 2014" next Thursday in the City with five of what it terms "the most interesting plays" presenting. And yes, you have guessed it! One of those interesting plays is Quenron. I am almost tempted to delay my Greek trip by 48 hours to go along for the free booze, canapes, coke, hookers and the chance to hear Rob Terry present and field some questions.
I really do not care about the POS company that is Touchstone Gold. It is typical of the detritus at the bottom of the AIM Cesspit. But its RNS today is a shocker - it is grotesquely misleading. Behind it lies a tale of management incompetence and greedy and venal crony capitalists on the AIM Casino who care about nothing other than lining their own pockets and funding the coke and hookers. Shareholders are just there to be screwed. All of the guilty parties are named and shamed and the lies exposed in this scorching podcast. Yes. I am angry.
On Friday we published a photo of a pizza shop at Fort Lauderdale airport which appeared to have provided Rob Terry inspiration when designing the Quenron (QPP ) logo. I asked for captions and the standard of entries was piss poor - no coke and hookers awarded for this one. But the winner is:
Company A on AIM issues good news. The shares go up as private investors buy. Company A then issues shares at a sharp discount to a bunch of coked up City spivs who forward sell and flip the rest post placing so making a quick killing. It is coke and hookers all round in the Square Mile and the poor private investors are back on the cabbage soup. It seems a familiar tale and so after its shares spiked on an offtake deal (great news)…. Stratmin (STGR) duly raised £800,000 at 7p. Bastards. Or maybe not.
Yesterday afternoon I revealed how AM casino failure of a company Independent Oil & Gas (IOG) was trying to get away a rescue placing. Its shares were, as I went live, 15.5p and barely traded. I also revealed that even though it had slashed the offer price to 10p it was struggling because, let’s be honest, this is a dog. The reaction of the company has been despicable, forced to fess up but aiming to mislead investors.
Today I again talk about why AIM punters are their own worst enemy and I use Casino listed company Independent Resources (IRG) as a prime example.
The pre rescue bailout placing ramping exercise of Northern Petroleum (NOP) continues on Wednesday with a presentation somewhere in the Grim North organised by Proactive investors. A missive from Proactive sales bird Sophie Barrowman (pictured) last week tells you all you need to know about how the AIM Casino operates. Sophie gushes in semi-orgasmic tones:
You could not make this up, Daniel Stewart (DAN) the City Crony capitalists who make their cash from advising firms on the AIM Casino has today admitted that it is truly financially buggered but not so utterly buggered that it can’t afford lavish champagne receptions at Christmas. Having made millions floating Quenron (QPP) and the China frauds Naibu (NBU) and China Chaintek (CTEK) as well as raising cash for blue-chip Globo (GBO) this is a comedy that keeps on giving.
Shares in Crony capitalist Nomad and broker Daniel Stewart (DAN) remain suspended on the AIM casino as the financially challenged enterprise has still failed to get its accounts signed off and published. While we wait we have managed to obtain an exclusive image of its IPO Department. This is the part of the firm that brought you winners like Quenron (QPP), Naibu (NBU) and China Chaintek (CTEK), made £1 million raising cash for Globo (GBO) but could not quite manage to float China fraud Fraspens in August. So what will be its next offering? I ask you by midnight tonight to post a suitable caption below.
Some sparkling entries in the Sunday caption contest which celebrated the financial woes of crony capitalist City advisor Daniel Stewart (DAN), the firm that coined it in floating Quenron (QPP), Naibu (NBU) and China Chaintek (CTEK). Lest we forget Daniel Cesspit has also made more than £1 million in recent years raising money for Globo. Double coke and hookers all round. You can see all the caption entries HERE but the winner is:
Let’s face it the firm that floated Quenron (QPP), China Chainek (CTEK) and Naibu (NBU) deserves to go bust so we won’t be able to laugh at Daniel Stewart for that much longer given how its shares are suspended, it cannot get its own accounts signed off on time and is almost out of cash (see HERE). So let’s have fun while we can. With a deadline of midnight tonight lets have your captions for the picture below:
Kalimantan Gold (KLG) has been a perennial jam tomorrow POS stock on the AIM Casino. Directors fees all round. Advisors fees all round. Placing after placing after frigging placing as it hypes up one target, raises cash, moves the goalposts and them raises cash again. All the time it is private investors who get screwed. Let me tell you about the placing it failed to do earlier this week.
AIM casino posterboy Mopowered (MPOW) has today announced a rescue placing at 5p. It was listed at 100p on December 18 last year. It was trading whilst insolvent until today and has been for weeks. The shares are now 8.125p so investors have lost 92% of their cash in just over nine months. But it is not all bad news: the lawyers, brokers, nomad, accountants and PRs assisting this POS will – after commission today – have now made more than £1 million from the firm. It is coke and hookers all round for the Crony Capitalists of the AIM Casino, and hard cheese for the shareholders.
MoPowered Group (MPOW) raised a gross £3.64 million at 100p when listing on the AIM Casino on December 18 2013. The shares now stand at 20.5p valuing this POS at just over £3.2 million. And while it says that it is going ahead with a £3.5 million fund raise you’d have to be mad to subscribe as this has red flags all over it. Death is all this deserves.
Another day and yet another profits warning from AIM listed specialist engineering group Redhall (RHL). This is a zombie company in that from an investor’s point of view it is just dead money. But it supports an army of crony capitalists, directors and various City parasites.