I start with an explanation of why I feel old and of the noises you may hear from the Welsh Hovel as I record. Then I look in detail at IQE (IQE) plus I comment on Verditek (VDTK) and Bidstack (BIDS) and when each will next run out of cash, at MyHealthChecked (MHC) which will not and finally at the disgrace that is Parsley Box (MEAL) at lessons folks should, but will not, learn and at why the shares will still crash even from here, having almost halved since the March 31 IPO.
Here we go again! Do the BBMs never learn? Shares in AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) took off again last week on more unfounded rumours on the bulletin boards that something is about to happen at principal investee Device Authority. Last weekend the shares were marooned at 7.7p. This week the shares shot higher to peak at 12.95p and closed the week at 10.75p in the middle. But there was no news, and we have seen this all before so many times……
Another day, another round of redemptions. This morning we learn that Neil Woodford’s flagship Equity Income fund has now dropped to £3.75 billion and two of the four accumulation units are now below the £1 issue price of five years ago. Meanwhile shares in Woodford Patient Capital (WPCT) closed yesterday at 77.8p, as against the launch price of 100p about four years ago and last seen are down again this morning to 75.6p, and the newest arrival, the Income Focus fund has seen its accumulation shares drop by around 17% since launch. Desperate times, but fear not: according to this morning’s Daily Telegraph, Neil has a plan.
As avid readers of ShareProphets will know, we have been bearish on Imaginatik (IMTK) for ever – firstly for being a duff business, secondly for being a Rob Terry of Quindell infamy stock market darling and more recently because it was going to run out of cash. Despite all that, we almost tipped it as a short term play when the saintly Vin Murria was announced to be considering getting involved but were scared off big time by the share price reaction (the stock shot through the roof) and advised many times that readers give it a wide berth, partly because they would be over-paying and partly because Vin Murria could walk.
There are three things you need to know about Sam Antar. 1 He was the king of committing fraud back in his day and is open about it. 2. He is incredibly funny. 3. He is now a king fraudbuster. When I met him he had just received a cheque for an eye-watering amount from the SEC for giving them a fraud on a plate. He is in short a genius. And outspoken. Is Marc Cohodes listening? Sam is a genius. Enjoy.
Yesterday I ran an email from PR Genius Reg Hoare who acts for Plus500 (PLUS) which tries to set the record straight after Lucian Miers' article the previous day. At the end of his email Mr Hoare states "I wouldn't for one moment presume to tell you how to run your Share Prophets web-site, but" he then tells me how to run my business. Ok Reg, I wouldnt presume to tell you how to run your fecking PR business but...
I just had to laugh, for my smartphone seems to have offered me a spot of interpretation even better than the ShareProphets RNS Translation service. It is running Android, and is thus a beneficiary of the genius of Google. It all relates to the comedy gold at US Oil & Gas (USOP) which has continued today as you can see HERE
I flew to New York nine days ago to record this interview with Sam Antar for Gold & Bears - Sam does not travel. Sam was a top fraudster at Crazy Eddies and is now a fraudbuster. For me this was the highlight of the show, the man is quite simply a genius.