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Even a few of our detractors have now come around
He was coming by the end of 2020. Then he was going to appear during Q1 2021. Then Q2 2021. Then by the end of the year. And then by the close of Q2 2022 – ie yesterday…….and surprise, surprise, he hasn’t come. But he is most certainly coming tomorrow. Honest, guv’.
How many times will mug punters fall for this? Last Thursday, Verditek (VDTK) shares traded at 1.3p, before soaring to 1.6p the following day. On Monday, there was a contract announced, and they roofed it to 2.5p. Today…
Oh dear, oh dear. This is truly awful, and explains why results normally released in late April, came out today - deadline day. Shield Therapeutics (STX) is in a mess, as I warned so often. Ouzo for me. Cabbage water for those who ignored my explicit warnings and instead, hurled abuse at me.
I'm not suggesting anything inappropriate - just making an analogy, as I discuss Zephyr Energy (ZPHR). Then, I touch on Optibiotix (OPTI), and a chat with Steve O'Hara. If you'd like to spend a day with Steve over all day drink and home-produced Welsh food, you can of course do so, HERE. I am pleased to say that almost a third of the seats are already booked out. After that, it is onto Oxford Biodynamics (OBD) and Shield Therapeutics (STX) - will its placing be at 5p, or not at all?. Then, Pennon (PNN), sewage and Feargal Sharkey. Finally, Abingdon Diagnostics (ABDX), where good news has seen the shares rocket. However, that only postpones the next bailout placing (or death) until Adven
AIM-listed Inspirit Energy (INSP) has announced the remarkable achievement of over 30kW from a first stage build test for its waste heat recovery system. Woopie-do! But is this all it is cracked up to be, with the shares up 49% on the news?
Versarien (VRS) admitted the need for a bailout placing within the next ten months (and probably much sooner), or it will go bust. With a quick google search, its latest RNS Reach spoof unravels in seconds.
Last year, AIM sewer poster boy, Deepverge (DVRG), did a placing at 30p. It had misled investors on trading, and its ghastly CEO, Gerry "the arse" Brandon, slated me as not understanding investment. Today, the shares are 10.5p, after awful finals in which, as I explain in this bonus podcast, the company again - by omission rather than act - materially misleads investors. If you own this stock, lube up; there is more pain coming your way.
You will remember: this is the company that lied in its very first RNS, claiming to have raised cash when it had not. It then engaged in spoofery, stating that it was going to help companies with imaginary oil reserves, and monetize those fictitious assets via crypto/blockchain technology; the shares subsequently raced up to 4p. Now, it is again trying an E&P reversal, but a cash crisis is looming. Do the math!
A week ago, Dave Richards - CEO of Wandisco (WAND) - was tweeting pictures of himself suited and booted, as well as his Mrs dressed up to the nines, as they headed to the residence of comrade Elizabeth Windsor. Today, he proudly waffles on about 2021 results from Wandisco. Only when you read the notes buried at the bottom, are you reminded of the dire realities. It could go bust, and will inevitably do a bailout placing - but is that enough? This is a train crash, and, rather than serving up nauseatingly misleading statements, Richards should admit to the facts.
I cannot help but notice that sub-Standard-Listed Cloudbreak Discovery (CDL) is back below its IPO price of 3p, at 2.8p in the middle. Call me Mystic Meg – for having sailed up as high as 13.25p on a ridiculous ramp, I commented in April that the shares have since drifted down to just 4.6p and seem set to drop back below the IPO price in due course. Where’s my Ouzo?
In today's podcast, I discuss Argo Blockchain (ARB) and why, later today, I shall be wading through 34 miles of nettles. If you can, please donate to Rogue Bloggers for Woodlarks, HERE.
AIM-listed Haydale (HAYD) has offered up a trading update ahead of its full year to June 2022. Apparently all is well, with revenues ahead of expectations but is that really the case?
Only last Sunday I showed that AIM-listed Trafalgar Property (TRAF) was technically insolvent, with MINUS £345,000 in net current assets, net assets of MINUS £3.3 million and cash of just £24,000 all as at last September. With a big ramp in play following the appointment hydroponics specialist of Dr Paul Francis Challinor, it was surely obvious that a discounted placing was on the way and whilst everybody was putting the finishing touches to the Platinum Jubilee bunting at 3.07 pm the day before a double bank holiday – truly no-one-is-watching o’clock - the company duly announced the issue of 133 million new bits of confetti at a massive discount. Nice work – call me Mystic Meg.
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has announced a recommended all-share deal to take over AM-listed Pires Investments (PIRI). The fanfare numbers are that Pires investors are getting a 54% premium to the previous closing price, with Tern’s shares priced at 15.5p, but that seems to me to be a spoof. One wonders why Pires' board took the deal…..
On Monday I asked When Will The Money Run Out? at Aquis lobster-potted TruSpine (TSP) and yesterday we got the answer, in the form of a placing, subscription and a debt-for-equity exchange raising £700,000 (before expenses) of new money and converting a stack of outstanding directors fees and third party creditors. Eat your heart out, Mystic Meg! Oh, and er…..oopsie…..the company “forgot” to mention that it had issued 724,902 shares to third party creditors back in November, failing to issue an RNS or apply for those shares to commence trading. Move along please, nothing to see here!
AIM-listed John Zorbas vehicle URU Metals (URU) has announced yet another roll-over of the particularly advantageous 85p conversion terms on its $500,000 death spiral funding from Boothbay Absolute Return Strategies LP. With the shares currently at 350p in the middle, this is a licence to print money. The giveaway terms are now open to Boothbay until 31 May 2023.
Versarien (VRS) shares have surged of late: last week, they lounged at 15p; yesterday, they reached 24p. This surge is all the more remarkable given the company’s May 12 warning: within a year, it could run out of money. My guess? The spike is driven by chatroom speculation and is, in effect, a concerted pre-placing ramp. In that vein, I have two questions for loathsome CEO, Neill Ricketts:
Oh dear, oh dear; we really must be in a bear market. Last, July Petro Matad (MATD) raised $10 million, at 3.5p…
Each January, AIM-listed Verditek (VDTK) - chaired by Tory toff, Lord David Willetts - would issue a trading statement, covering the calendar year. It was never anything to write home about, as, despite announcing huge orders ahead of a discounted placing, none would turn into actual er….orders. So, this was typically a January confessional. But in 2022, there was no trading statement.
In the old days of editing this website, flip flop Ben Turney would skewer penny share promoters for deceiving investors. These days, flip flop runs Sub Standard Listed Kavango Resources (KAV), which today raised £750,000 at 3p, Friday’s closing offer price. The RNS is bure bunkum, but there is worse.
I’ve previously written here about the attempts by some to manipulate the share price of Oilex (OEX), and particularly with regards to an upcoming placing, but that will come to an end now that the company has released the actual details.
First thing yesterday morning shares in Love Hemp (LIFE) the pot play backed by boxer Anthony Joshua saw its shares suspended. At 4.35 PM it fessed to the grisly truth: it had lied about a fund raise announced on 8 February. But then it carried on lying. No wonder, adviser Peterhouse has resigned.
Dragon’s Den star, Sarah Willingham, cannot contain her excitement as she gushes about “further positive trading” in a Q3 statement, out today. She is, however, a bit shy on the record cashburn and looming cash crisis at Nightcap (NGHT), which means another bailout placing is imminent.
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) today provided an update in the form of its AGM statement. As ever, it is full of hyperbole but offers few hard numbers. The ShareProphets RNS Translation Service explains all…..
Long-term Michael Masterman, of AIM dog W Resources (WRES), has announced that its Nomad, Grant Thornton, and its joint brokers, Alternative Resource Capital and Shard Capital, have all resigned with immediate effect. The question is: did they resign or were they resigned?
As we await the latest heavily discounted bucket shop bailout placing – or worse – from AIM-listed UK Oil & Gas (UKOG), we have already had ramptastic 2D seismic processing from its duff Turkish assets and this morning it was announced that CEO Lyin’ Steve Sanderson has been buying shares. Quick, follow the man……..or not!
A couple of weeks back I wrote a piece here about how the share price of Oilex (OEX) was being manipulated, with all sorts of claims being made from some people about being told information that wasn’t in the public domain.
Previously writing on B2B media group Bonhill (BONH) I noted that it proposed to raise approximately £1.1 million at 5.5p per share via a placing and open offer it stated “for working capital purposes” but I suggested to avert cash crunch ahoy. Now further fundraising detail along with calendar year 2021 results.
AIM-listed Haydale (HAYD) issued an RNS Reach this morning to announce that it is celebrating a double award win, with the Group picking up an award at the prestigious 2022 British Engineering Excellence Awards ('BEEAs') and named as a winner of the Kidney Research UK MedTech Competition respectively. But…..
I start with Deliveroo (ROO), whose IPO was at 390p - a year later, the shares are at 106p. What went wrong, I ask, and what now for the shares? Then to two placings: Vast Resources (VAST) announced its placing on Monday; I discussed the one Canadian (COPL) has been working on since last Thursday, last night. It seems to be struggling, but I expect it will be announced by the company tomorrow. Both placings stink, and decent regulators would be all over them. I explain why.
Last week, I wrote several articles about how Canadian Overseas Petroleum (COPL) misled investors and was facing a cash crisis. Snake oil salesman, CEO Arthur Millholland of Oilexco infamy, responded with a denial, claiming I did not know what I was talking about and was motivated by nefarious aims of self-enrichment. Well guess fucking what?
Yes, for the second time this week, I have written to the regulators of the Standard List, that is to say, the FCA, asking for an investigation into Canadian Overseas Petroleum (COPL), the almost insolvent POS run by snake oil salesman Arthur Millholland of Oilexco infamy. The letter is below.
Adding to the grotesquely deceptive and misleading RNS of April 1, and the failure to inform investors of numerous covenant breaches, I now expose another $8 million PORKY PIE from the Snake Oil salesmen at Canadian Overseas Petroleum (COPL). This should shock even the FCA into action.
AIM-listed jam tomorrow IoT investment company Tern plc (TERN) badly needs to get a fundraise away as the closing date for cashing in its first round of warrants at Wyld, listed on the Nasdaq First North joke market in Stockholm approaches. I reckon it has got at best a couple of weeks and probably only one week before disaster strikes. The only question for me is whether the disaster will be the collapse of Wyld or just a massively discounted bucket shop placing-induced collapse in Tern’s share price.
Describing itself as “a world leader in narrowband radio frequency smart mesh networks”, CyanConnode (CYAN) has announced new funding which it states “allow us to maintain momentum and win some of the large opportunities being presented to us” – and the shares have currently responded up to 16.5p. This though follows I previously questioning “solid progress” or continuing cash burn? (And what about the borrowings?!) with the shares falling below 21p in January. So what now?…
Just four days after death spiral provider Atlas converted $150,000 of debt into Vast Resources (VAST) shares at 0.86p having forward sold, it has announced the conversion of another $150,000 this time at 0.77p. In February the conversion was at 1.24p. Do you see a trend? My guess is that those shares have already been forward sold and that Atlas will now be working on dumping even more stock ahead of the next conversion. Why the panic? Two reasons:
If folks are looking to punish Russian war criminals for atrocities committed in Ukraine, I suggest they be locked up for years and made to re-read today’s FY results from UK Oil & Gas (UKOG) fifty times a day. Wading through pages of ESG guff and self-congratulatory horse really does make one lose the will to live. But buried in it is a stark admission of impending share price doom
On January 31 Vast Resources (VAST) announced that it had almost replaced its Atlas death spiral with alternative funding, a refinancing. Natch that was grossly misleading! This is Vast after all.
I noted at the beginning of this month that AIM-listed Advanced Oncotherapy (AVO) needs to get a fundraise away pronto, but that its shares were threatening to drop below the nominal price of 25p, below which it cannot issue new shares by law. On Friday the shares closed at 24p (mid) and I would suggest that Advanced – or, rather, its shareholders – have a big problem.
In today’s podcast I look in detail at Deepverge (DVRG) whose CEO Gerry Brandon is a 100% arse and whose most recent RNS is utterly deceptiive. I also look in detail at musicMagpie (MMAG) where a placing will be messy but is a slam dunk cert if the Fat Lady is not to make an appearance and at Cineworld (CINE) which remains a slam dunk short.
Tom Winnifrith pointed to yesterday morning’s RNS Reach from AIM-listed jam-tomorrow IoT investment company Tern plc (TERN), noting that in effect the investment made was worth around a grand. So even if it was a rampant success it would never make a jot of difference. But not satisfied with that Tern issued another RNS Reach intra-day detailing an internet of things standards project with reference to its biggest investee Device Authority. So was this any more significant?
As explained HERE, sub scale investor in crap companies Tern (TERN) needs to get a placing away by April Fool’s day or it is in deep merde. Hence a desperate attempt to ramp the shares ahead of a visit to the bucket shops for the discounted bailout. Even Tern could not bring itself to make today’s release an RNS. It is an RNS Reach meaning that it is financially immaterial. You will be amazed just how immaterial it is. As such this is a major red flag that a discounted placing is imminent so if you are buying shares in the market today you better lube up.
As Deepverge (DVRG) burns cash and prepares for this year’s bailout placing, the journalist trolling arse of a CEO Gerry Brandon is playing his usual game of spoofing the morons who comprise his shareholder list and ramping the shares with announcements that are designed to mislead a group of investors with a collective IQ of less than that of a cheese sandwich. Last year Gerry the arse broke AIM Rule 11 with the pre-placing ramp, this year it is more nuanced spoof.
So what if women and children are being blown to shreds in Kiev. The “good” thing about that war is that it means we must stop using oil and gas produced by the evil Russians – we don’t use much anyway – and thus need to turn to UK Oil & Gas (UKOG) run by Lyin’ Steve Sanderson to bail us out. Talking of which, I wonder how the placing is going …
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.
For most of the last year, AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has survived because its supporters were truly sold on Tern’s portfolio being worth a multiple of the official NAV per share which allowed Tern to issue more and more shares like there is no tomorrow at a huge premium to NAV per share, even if at massive discounts to the prevailing share price. Until now.
Standard-listed Panther Metals (PALM) has announced this morning that it is raising between £0.3 million and £0.36 million in a placing via an ongoing accelerated bookbuild at 8p per share. With the shares having closed last week at 8.3p in the middle it is a very small discount, although perhaps on reflection it might have been better to rattle the tin at the start of the year when the shares were over 12p.
AIM-listed and surely sort of cash Advanced Oncotherapy (AVO) announced yesterday morning that Prof Stephen Myers, executive director and the chairman of ADAM – Advanced’s development team in Geneva – had bought a total of 140,000 shares. At 27.64p (on average) that is £38,700 worth of stock. It sounds quite impressive, but this is certainly not a situation where it is advisable to follow director buying. In fact, I take the opposite view: the shares are a sell.
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) announced yesterday that it is to participate in the Sure Valley Ventures UK Software Technology Fund, to the tune of an initial £90,000 and a total of £5 million over the next ten years. So where is the money coming from as the deadline for converting Tern’s first round of warrants in Wyld (due at the end of the month) ticks down to an inevitable discounted bucket-shop placing?
AIM-listed Mediazest (MDZ) announced its full year results to September this morning and the numbers were a horror show. The shares are 18% down as I write, to 0.0775p and there is every reason to expect them to fall further.
It was announced intra-day yesterday that sub-Standard Listed Cloudbreak Discovery (CDL) had raised £1.5 million (before expenses) in discounted placing at 7.5p a pop. This follows the miraculous rise of the shares which started ahead of the announcement of boardroom buying, which saw the shares rocket from around 1.75p to as high as over 13p yesterday, just before the announcement.
AIM-listed Advanced Oncotherapy (AVO) has announced that its first proton beam therapy unit at Daresbury has once again been delayed. First it was due in 2021, then the end of 2021, then Q1 2022….now we are told more tests during Q2 and then finalisation of the integration of the remaining high energy accelerating modules and reaching the 230MeV target over the summer. That sounds like Q3 for Mr Godot to finally make an appearance. Or not.
Tern (TERN) is always happy to use the Adam Reynolds keyboard to publicise details of new deals for its investee companies but is much shyer about revealing any financial details. Wyld Networks recently published its results for the year ended 31 December 2021, HERE, and unsurprisingly Tern didn’t bother to highlight them probably because financially they were piss poor..
AIM-listed graphene play Haydale (HAYD) announced its interim results to December 2021 this morning and despite the advertised £3.84 million of cash, yet another placing is surely inevitable. Revenues fell from £1.28 million to £1.19 million, pre-tax losses increased from £1.93 million to £2.46 million year on year – what’s not to like? But the real problem is the balance sheet.
AIM-listed jam tomorrow investment company Tern plc (TERN) is desperate for good news to ramp its shares ahead of a bailout placing which looks needed to raise money to keep its end up at Wyld as the deadline to convert the first tranche of listed warrants there falls on April 4th and if my back-of-a-fag-packet is right, the money isn’t there. And that brings me to today’s intra-day RNS…..
I see that shares in AIM-listed Advanced Oncotherapy (AVO) are down to just 26.5p – only a penny and a half above the nominal price. Normally that might not be an issue, but Advanced is a serial non-deliverer of promises and has had to place at regular intervals until now. So what chance a bucket-shop placing to keep the lights on whilst we await the ever-delayed first LIGHT system to even offer a sprinkling of hope for some revenue?
Last week saw yet another RNS Reach announcement from AIM-listed Graphene play Haydale (HAYD). Reach announcements are used for non-regulatory news, ie non-financially significant announcements and advertising, so a deluge of them is a Red Flag for me, indicating it is bucket-shop placing ahoy.
Predator Oil and Gas (PRD) is a rather very questionable company I have not commented on for some time. Last time was in July last year. I commented on the exec director share dumping and a late reported related party asset deal. 5 days later Ron Pilbeam departed the board with the assistance of Tom Winnifrith and the FCA. Tom celebrated with Ouzo for breakfast and me with Chianti and fava beans for tea. Guess what – I see history about to repeat on one interesting aspect.
I mention briefly events at Omega Diagnostics (ODX) but that is covered largely in a seperate bearcast HERE. Then it is onto the new big covid test short Avacta (AVCT) and why our own esteemed PL is talking cock. I cover Anglesey Mining (AYM) and what its news today really means. Then a long look at Osirum (OSI). Obviously it is a worthless POS but what does its deeply discounted placing today mean for YOUR portfolio?
I shall be recording a special podcast outside of the paywall later for shareholders in Omega Diagnostics (ODX) for they have been well and truly mugged, but not by me, and must be spitting nails this morning as it finally fesses that everything I have exposed on this website was true.
A reliable source tells me that Omega Diagnostics (ODX) has completed a c£5 million placing at just 5p. And given how the morons who own this stock – which at 9.9p is capitalized at £17 million – will be royally diluted, there will also be an open offer at the same price to raise up to £2 million.
As its CEO “was resigned” on 19 January Omega Diagnostics (ODX) poured cold water on the suggestion that it was about to do a bailout placing in a way that I said was grossly misleading HERE. Well knock me down with a feather.
On Monday AIM listed Haydale (HAYD) announced the appointment of new Nomad/Broker FinnCap. Yesterday there was a first RNS Reach spoof and today there is another. With cash surely inadequate to get through the auditor’s Going Concern test later this year, I ask again: when’s the placing.
AIM-listed graphene play Haydale (HAYD) is up to its old tricks again with the release of an RNS Reach telling us that iCraft is using Haydale’s graphene product in a graphene-coated fabric. Yesterday we were told of the appointment of a new Nomad/Broker, today we get an RNS Reach. When’s the placing fellas?
We all know that AIM-listed jam-tomorrow investment company Tern plc (TERN) needs to rattle the tin yet again and sharpish in order to hold its corner as the first round of Wyld warrants comes up for exercise. We also know that Tern’s share price has collapsed (not by enough) in the wake of bad news from its portfolio of cash-hungry investees. And that brings me to today’s flag-waving RNS.
Pot play MGC Pharmaceuticals (MXC) joined the Standard List on 9 February 2021 and has already issued more RNS releases than most companies do in a lifetime. But that is not the only red flag relating to this dual listed ASX entity now being touted by certain chatroom trolls as the next big thing. MGC is drowning in red flags and its valuation is absurd.
The elephant in the room is that Union Jack’s (UJO) disgraced boss David Bramhill has spent vast amounts of shareholders cash hiring spooks to spy on and troll shareholders, journalists and his own advisers as exposed HERE. That makes Union Jack shares toxic and today’s utterly misleading trading statement will not change that.
AIM-listed Graphene play Haydale (HAYD) has appointed FinnCap as Nomad and Broker. So is it fundraising ahoy?
Wildcat Petroleum (WCAT) is the Standard Listed company that lied in its very first RNS exactly one year ago today. More importantly it is rapidly running out of cash, as I noted here, having failed to get anywhere close to executing an RTO as promised 12 months ago. It gets worse.
The fraud that is Chill Brands (CHLL) is running out of cash fast with sales at levels that are almost statistically insignificant. Rather than update us all on that tale of woe there is another spoof. This is all part of an attempted ramp to get a deeply discounted bailout placing away as soon as is possible. Todays spoof is laughable. I offer a translation service
Fox Marble (FOX) has recently announced a fundraising and that it is “optimistic that 2022 will prove to be a turning point for the company”. Bothstatements have akind of familiar ring to them but are there solid grounds for optimism now?
I start with Bluebird Merchant Ventures (BMV) and the FCA. Who is being a moronic fucktard today? Then some very serious number crunching on Versarien (VRS) and its looming cash crisis as the death spiral from Lanstead starts to fail. Then on why Bidstack (BIDS) has offered its long suffering sharehoders a great selling opportunity today. And a few words and questions for Lyin’ Stever Sanderson at UK Oil & Gas (UKOG) – placing ahoy!
UK Oil & Gas (UKOG) needs to get a placing away by St Valentine’s Day or it is deep in the merde as I explained HERE. No institution will touch this crock run by Lyin’ Steve Sanderson so the next bailout placing, like all the others, is a bucket shop special which is why Pinocchio is ramping his arse off with spoof RNS after spoof RNS to try to get private investors buying the shares ahead of a placing at a big discount to the City spivs. Yesterday’s spoof RNS was a green one - today Lyin’ Steve spoofs with a share purchase.
Hello, Share Scrimpers. Previously, I’ve commended Blackbird (BIRD) to you. It’s a company with dazzling technology that allows TV companies to edit and broadcast their programmes in the Cloud. A flurry of orders a few months ago galvanised the share price. But since then, as is often the way, news has dwindled and so has the share price. But there’s now an announcement that signals this growing company may have only just got going.
Tom recently revealed that an AIM company had apparently spent £40,000 investigating the background of a journalist on this site. I understand the revolting dossier included details of the writer, his partner and his Ex and his business. The report was trying to pin the leaking of this companies’ placings on an individual, and doing so in a very nasty way. I have not seen the report. Tom has it and has let me know the highlights. So, Mr David Bramhill, of Union Jack Oil (UJO), step forward and take the honours. You investigated me with your £40,000 Private Investigators. You, Mr Bramhill, are a xxxx — and I make no apologies for that language. You are Scum.
Having raised £4 million gross at 18.8 pence per share on 13 July 2021, the Bulletin Board Morons, although feeling somewhat sore given that the Tern (TERN) share price was 12.5 pence bid price at the close of business yesterday, might be consoling themselves thinking that, at least, the jam tomorrow specialists, won’t be asking for any more cash for some time. Sadly, that isn’t the case and I demonstrate below why they will very shortly be asked to stump yet more cash to feed the greedy board and its portfolio of loss making and cash guzzling investments.
Last Friday Aquis-listed Rutherford Health (RUTH) advised that it was in discussions to secure bridge financing and that a further announcement would follow this week. This followed the non-appearance of placing monies originally announced back in August which were repeatedly put back. Is the company out of cash yet?
Abingdon Health (ABDX) will, no doubt, claim that its up to £6 million placing, open offer and Primary Bid offer at 25p is down solely to the DHSC not paying delayed bills. But then again this was a company that was technically insolvent before it raised £20 million at is IPO a year ago so, in my view, it has always been a basket case and I have explicitly warned you many times that a bailout was looming. For the record, this will not be the last one. So, who is next? Abingdon again or the other grossly overhyped covid dog Omega (OMX). But first a covid prediction…
In the past AIM-listed online ladies clothing purveyor Sosandar (SOS) boasted of EBITDA (bullshit earnings) in part because they were pretty close to real, bottom-line earnings and cash outflow. Not so any more! So we are told of EBITDA positive trading recently and the company boasts of revenue growth of 184% to £12.2 million, Gross Profits of £6.9 million, Net Cash of £7.4 million and that the EBITDA loss was £0.99 million in the six months to 30 September, So things are going gangbusters, right? Not so fast……
Horizonte Minerals (HZM) looks as though it has defied the odds and will actually manage to bring a large project requiring significant Capex into production, whilst at the same time retaining 100% of it.
The curse of former Tory MP, Tony Baldry of 3DM infamy just will not go away. When oily Tony joins a company, he will make a packet and the shares will tank. That is one of my golden rules of investing and slimy Tony’s record in this respect is unblemished. So to the latest warning from Westminster (WSG), a turd which Tony tries, and fails, to polish.
In August, McColls (MCLS) raised £33 million gross in a placing and open offer. Natch the crony capitalsts snaffled almost £3 million of that in fees which is perfectly understandable. FFS: Do you know what inflation is running at for upper class hookers and pure Charlie? Today there was dismal profits warning which begs the question of whether another bailout will be needed. Let’s do the maths.
As a reminder: Standard listed Wildcat Petroleum (WCAT) lied with its first RNS last December 31 about having raised money. It had not. It now has sub £200,000 left and, ceteris paribus, will go bust by Easter. Its June 30 accounts were promised for October and are still not yet out, with no explanation for the delay. Its November AGM has had to be postponed with no new date given. But in what appears to be blatant market manipulation, its shares are roofing it. Why will the FCA do nothing? Today we have news …
As you may recall, the business model of Vox Markets is that companies pay £15,000 a year to get interviewed by Justin the Clown who then asks the CEO whether he prefers Hob Nobs or Jaffa Cakes and whether his schlonger is ginormous or merely massive. The sort of AIM and Standard Listed companies that sign up, hope that such interviews can move the share price so allowing the next bailout placing. Maybe those companies have finally worked out that nobody takes the Clown seriuously and this business model is finally being rumbled. I see interesting filings at Companies House.
Aquis lobster-potted Rutherford Health (RUTH) – formerly Neil Woodford favourite Proton Partners – has announced a deal to open new health clinics in partnership with BUPA. Great, whizzo……but there is just one tiny little thing wrong here!
Operator in Poland of pizza stores and restaurants and of the Domino’s Pizza franchise, DP Poland (DPP) has announced a £3 million placing it emphasises at a premium at 8p per share and with “it requires additional capital investment to implement its growth plan for further expansion and market penetration”. So what of a current 7.75p share price?…
Petrofac (PFC) shares have been good for trading over the past few years, assuming you managed to get your entries right, but the company has had too many potential issues to really have been considered an investment, unless you had a very high appetite for risk.
The shares are today trading at 29.5p, valuing this POS at c£58 million, but are slipping gently. The reason: Versarien (VRS) the AIM listed jam tomorrow stock run by serial ramper Neill Ricketts is, according to a City source, sounding out investors about a fund raise of £30million at 18p. The rationale?
The Oxymorons at AIM Regulation, led by the hapless poltroon Mr. Marcus Stuttard, the bogus Sheriff of AIM, like to claim that they have created the world’s most successful growth market. But the events of the past two years at Eurasia Mining (EUA) have shown that those who want to run rings around Marcus and the clowns who work for him don’t have to try too hard. I have written to Marcus and his colleagues about the farce at Eurasia and the supposed bid talks. Enough is enough. Will AIM Regulation force a statement? The answer to that one may involve myself and Ms Cheryl Cole.
Aquis lobster-pot listed Rutherford Health (RUTH) has announced yet another delay in its acquisition of Proton Partners International Health Care Investments LLC, UAE. The deal, originally announced on 31 August 2021 – along with a placing which is also delayed – was due to complete 21 days on from a share swap deed dated 28 August. Then it was 11 October 2021. Now it is 16 November and the ShareProphets bookies are offering generous odds on yet another extension after that.
Anglesey Mining (AYM) the ultimate jam tomorrow mining penny dreadful is today boasting of how it has raised another £768,230 at 3.4p a discount of just 5.6% to the close yesterday. Whatever you say chaps. The money will be used to do more exploration work mainly at the Parys Mountain hole in the ground in Anglesey and, of course, to pay those vital PLC costs.
I should have mentioned this in bearcast yesterday, the maths is clear and unchallengeable. Abingdon Health (ABDX), a company I warned you about at IPO as it was insolvent and the valuation absurd, is pumping its stock via the yellow journalists on the Daily Mail and the Telegraph ahead of a bailout placing. You know the score: mug punters overpay in the secondary market ahead of a placing at a vast discount to fund managers.
It has been three months and ten days since places in a £10 million offering at 30p from AIM listed Deepverge (DVRG) got their stock. At mid they are now 25% down with the shares at 22.5p. Folks who took part in the placing were misled by the company as to its trading position as it breached AIM Rule 11. I have again written to AIM Regulation demanding that formal action be taken. That letter is below. Meanwhile should punters hang on?
I commented on Tuesday that Acquis-listed Rutherford Health (RUTH) seems to be having a bit of a problem collecting the placing proceeds originally announced at the end of August. The original payment day – September 13th – came and went, with an after-hours announcement that the deadline had been extended to September 23rd – yesterday. There was no announcement yesterday, but at 11.57am – ie lunchtime – today the company announced the grisly news:
As with most junior miners, this one told us little of note in its interims today. But yesterday, Standard-Listed Panther Metals (PALM) announced the commencement of drilling at its Dotted Lake property in Ontario, Canada. The campaign with the drill-bit is to be short, with just a single hole planned, but the plan is for a 400m hole to be drilled directly below a historical trench previously excavated in 2010 which threw up some promising samples. Of course, at this stage it is a jam-tomorrow prospect but the drill bit might just prove it is a little more than that and we should find out fairly soon.
Yes, you read that correctly, the US ADR placing of Argo Blockchain (ARB) involved ELEVEN different brokers. Jefferies, Barclays, Canaccord Genuity, Stifel, GMP, Compass Point, D.A. Davidson & Co, Ladenburg Thalmann, Roth Capital Partners, finnCap and Tennyson Securities are the team batting for Argo and will no doubt boast that they raised £82.4 million having targeted just £75 million. But…
I have an update on the Union Jack (UJO) placing which I forced it to ‘fess up to last Friday and I can now reveal that worthless ramp Wildcat Petroleum (WCAT) is now seeking fresh equity at almost any price. At 1p, a £21 million market cap is about £21 million too high in my book. I also discuss Jubilee Metals (JLP) and Mark Slater and that links nicely to an IPO I am dodging and I explain why I am passing on what appeared a likeable and competent team. Finally, a detailed look at perennial dog Mirriad (MIRI) whose shares are – despite slipping 10% today – still a stonking sell.
The 26p per share £11 million placing on Monday by Eurasia Mining (EUA) may open up not one but two cans of worms and I have written to my chums at the FCA asking for an investigation on two counts. The letter is below:
This website has made no secret of its cynical take on the valuation of one of Neil Woodford’s most controversial investments into Acquis lobster-pot listed Rutherford Health (RUTH), formerly Proton Parters. There was a tiny investment made at its IPO allowing Woodford to mark up his original investment heavily, but since Woodford held all the cards apart from Rutherford’s management, there was nobody to sell and thus the apparent price was, we argued, totally illusory. We predicted problems when the cash ran out……
In my last piece on AIM-listed Haydale (HAYD) at the beginning of this month I discussed a ramparoonie RNS revealing an undeclared related party and a tin-pot organisation casting a very different light on matters as presented by the company. What was the point? Of course – it was a pre-placing ramp and this morning it was time for Ouzo on cornflakes as Haydale revealed a fundraise at just 6p per share. That, against a peak last week of 7.55p.
The recent share price movement on Eurasia Mining (EUA) looks even more dodgy now in light of today’s announcement of a placing, and I would be surprised if there hasn’t been some forward selling going on.
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:
On 3 September AIM-listed Angelsey Mining (AYM) released predictably horrid full year results to March 2021. This morning it has graced the market with an RNS entitled Financial Results and way Forward. Confused? I was……until I realised this morning’s missive didn’t include the full results!
AIM-listed jam-tomorrow investment company Tern plc (TERN) has announced a portfolio update…..and that it has piled another £630,000 into its portfolio. But that seems to be about the only number offered.
Another day and another announcement from Argo Blockchain (ARB) the company that is spending $17.5 million buying some Texas scrub land worth $168,000. It is more green hype which might impress some of the ESG loving millennial fund managers who Chris Bailey is keen on, but cash guzzling Argo refuses to address the herds of elephants in the room.
So says Fleet Street legend Brian Basham. Given that Brian has accused Vast’s (VAST) board of malfeasance and repeatedly called on the useless regulators to act against the company I doubt he has its best interest at heart. This is one case I would love to fight so bring it on Vast: see you Bitchez in Court! So what is Brian’s point?
Back in April Vast Resources (VAST) managed to persuade shareholdcers to approve a 100-1 share consolidation by telling them a stack of blatant lies, lies which have been shown up with news today of yet another discounted placing.
The proper way to respond to the Boatman dossier was via RNS but that needs regulatory sign off so the fellow who dumped millions of dollars worth of shares at 243p just a couple of weeks before Argo Blockchain (ARB) did a major placing at 200p recorded a video which you can see below. He covers the “report” but does not name it just in case folks actually are encouraged to go read it. It is a poor rebuttal.
As I had hoped, fully listed Esken (ESKN) has updated the market this morning on Friday’s Red Flags at Night announcement that Ryanair is departing from London Southend Airport. Good news…..well, up to a point.
The name Andalas Energy will be enough to send a shiver down the spine of investors who had high hopes for the company, before getting shafted, but the new company that is has evolved into, Advance Energy (ADV), looks very different.
AIM-listed Cretan holiday resort developer Minoan (MIN) released interims numbers to 30 April yesterday morning. Today we have a placing raising £350,000 in cash (before expenses) and a further £99,600 in lieu of certain liabilities. The matters of interest, of course, are not the numbers but progress with regard to monetising its assets at Cavo Sidero. Has there been any movement?
I wrote positively, if cautionusly about Predator Oil and Gas (PRD) back in March. A few things have happened since, including the drilling of the MOU-1 well in Morocco provided a very unclear outcome. However I have now come to the view having looked a few matters, including but not limited to the RNS today advising of Director share sales last week, that the corporate governance of this company is so poor, it is completely uninvestable.
It is time for yet another ouzo! As long suggested on this fine website, AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has done yet another discounted placing to raise c.£2 million (before expenses) at 18.8p per share – and launched a PrimaryBid offer (which you should definitely ignore) in an attempt to raise the same again. But the joke is that it seems it was the Bears to the rescue!
It is quite obvious that nobody will be paying any attention tomorrow morning as hangovers are nursed in the wake of England’s attempt to see that football’s coming home this evening. Even schools have been told they can delay opening until 10am tomorrow so at 7am when the RNS system strikes up it will be a classic case of no-one-is-watching o’clock. In short, tomorrow will be a good day to bury bad news. So how many dodgy RNSs will there be first thing tomorrow? Place your bets…..
Previously writing on online beach holiday retailer On the Beach Group (OTB), in November I cautioned despite another laudable update and last month Chris Bailey noted ‘Reality starting to happen On The Beach’. Today the group has announced “successful completion of… non-pre-emptive placing”…
Gyms operator Gym Group (GYM) has announced “successful completion” of a placing raising a gross £31.2 million. How ‘successful’ is the placing and what’s the outlook from here?…
EnQuest (ENQ) has announced a proposed issuance of equity “in line with the announcement on 4 February 2021”. So what was that announcement and what is the proposed equity issuance and its impact?
I continue to believe – despite the company’s protestations otherwise – that there is a placing on the way at AIM-listed jam-tomorrow investment company Tern plc (TERN). The only question for me is how badly burned shareholders will be. Today the shares are up 19% to 26.25p (last seen), having recently been as high as over 30p last month and down at 16p since. The “big” news is that its shares are apparently set to trade on the US OTCQB (bully for it, but hardly the Nasdaq!) and investee Wyld Networks is set to join the Nasdaq “First North Growth Market”. Tern may make a few quid on that IPO, but it is peanuts compared to Tern’s current market capitalisation of £83 million.
UK Oil & Gas (UKOG), the member of the minus 97% club run by Lyin’ Steve Sanderson, must be ready to pull the trigger on a bailout placing judging by news this week. Indeed there are suggestions that it is already looking to place 2 billion shares at 15% discount to the 0.2p bid so raising a gross £3.4 million, call it £3.1 million net. The pre dump ramp is from Turkey.
It always surprises me how impatient investors can be and how much a missed deadline can sometimes be punished, even when that event has the potential to unlock significant amounts of value, if and when it finally happens. I’ve been invested in Horizonte Minerals (HZM) for several years now and during that time have seen lots of ups and downs, including disappointment when ‘deadlines’ have been missed.
I shall turn to the abject full-year results and trading update from Remote Monitored Systems (RMS) in due course. Suffice to say, what is unfolding is exactly what myself and Gary Newman have predicted so many times and the shares, though down sharply today, remain on the bargepole list. The real shocker is buried in the waffle and the cashflow statement.
Previously writing on self-styled “a world leader in narrowband radio frequency (RF) smart mesh networks” CyanConnode (CYAN), in April I questioned how ‘pleasing’ was a trading update. Today a “Placing and Subscription”…
Surely the FCA has to come down on Main Market listed Argo Blockchain (ARB) like a ton of bricks because it has today admitted that it suppressed and hid from investors bad news so that its shares could be pumped allowing directors to dump millions of pounds worth of stock and then, a few days later to do a £27 million placement. How can this not be a criminal breach of the rules by a £610 million capitalised company? Here is the shocking timeline.
Surely, before undertaking a bailout-discounted placing with bucket shops, a company has to come clean and admit that trading is way below what had been forecast? Those are the AIM Rules but Lyin’ James Draper and Bidstack (BIDS) do not give a rat’s arse about rules and neither, it seems, do the Oxymorons at AIM Regulation. On 22 April, house broker & Nomad Stifel slashed its 2021 and 2022 sales forecasts and upped its forecast losses for Bidstack but the company is yet to admit that trading has fallen off a cliff. But today with cash down to almost nothing and staring down the barrel of insolvency, surely it must be made to ‘fess up? Here are the maths:
Less than two weeks ago AIM-listed jam-tomorrow (but never delivered) Internet of Things investment company Tern plc (TERN) saw its shares trading at 30p – a monstrous overvaluation when compared to its last stated NAV per share of just 7.3p. Now, just a few days later, the stock is down to just 15.75p (last seen) – which is, of course, still a monstrous overvaluation. But there is plenty more pain to come for shareholders.
AIM-listed online ladies fashionwear purveyor Sosandar (SOS) has announced the placing I have long predicted, and a Primary Bid offering alongside. The fundraising, announced at 5pm yesterday – after hours, natch, was planned to raise £5.24 million at 20p per share and this morning it was announced that the placing and Primary Bid offer had closed, having been oversubscribed. My stance for the past few months has been wake me up after the next placing. So am I now a buyer?
Eight days ago, Eurasia Mining (EUA) said that it was in talks with a credible party which had made an offer to buy essentially all of its assets and that if the deal went through it would become a cash shell after paying a “significant” dividend. Guess what? Today there is a $20 million placing. For such. Almost criminal. Spoofery to happen once is – on AIM – understandable, twice looks like carelessness.
I gather that it is ouzo on cornflakes time at Peter Brailey’s this morning as Simec Energy (SAE) shares have gone into meltdown on the back of a disingenuous but unmistakeably bad statement – something clever old Peter predicted HERE. The stench of David Cameron, Lex Greensill and Tory sleaze is at the heart of the problem.
After years of executive greed and value destruction, Bahamas Petroleum (BPC) tried one last roll of the dice on April 23 with an open offer at just 0.35p but I wonder whether there are growing signs that this is failing?
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.
AIM-listed Catenae Innovation (CTEA) has waxed lyrical this morning about the acquisition of Hyperneph Software Limited. The acquisition – a 51% partial stake in the outfit – is set to cost Catenae’s grateful shareholders £270,000 in cash and £50,000 in Catenae confetti to be issued at the end of February next year at a 10-day VWAP. The transaction is classed as a Related Party Transaction as one former director of Catenae is on the board of Hyperneph, alongside a former employee and current adviser to Catenae.
Yesterday I revealed how Sarah Willingham’s Nightcap (NGHT) was scrabbling around to raise money via a bucket shop placing. Let’s hope it manages to spend less on this fund raise than the AIM admission which had estimated costs of admission of £1 million to raise gross proceeds of £4 million, a ludicrous 25% of money raised.
Tom Winnifrith has already exposed the cancer threat, discussed HERE in a 2018 scientific study, posed by wearing graphene enhanced face masks with regard to AIM-listed Versarien (VRS). But it seems that Versarien is not the only company in the firing line, for AIM-listed Haydale (HAYD) is also on the hook.
I am aware that a number of my colleagues view Panther Metals (PALM) shares as jolly cheap and they may well be right. However today’s news of a small placing just looks grubby and I don’t like the smell of it. Let me explai
AIM-listed online purveyor of ladies fashionwear Sosandar (SOS) has offered up its full year trading update this morning. There is much to celebrate – particularly as this time last year the question might have been whether AIM-listed loss-making stocks would even survive! In fact the company seems to have made quite a success of the past twelve months as Covid restrictions closed the high street, giving online retailers a clear run. But is it all roses?
As his loyal butler presents a plate of a fresh kipper, rushed by the overnight train from Arbroath, in front of Tory Toff David Willetts this morning, his Lordship must be pondering seriously whether Verditek (VDTK), the company he chairs, is, itself, at serious risk of becoming a dead herring. The company has survived since its 2017 IPO by generating not a cent of revenue but by announcing numerous contracts to ramp the shares ahead of bailout placings only to admit later that the contracts have come to nowt. But what now?
Previously writing on financial markets cloud computing and connectivity group Beeks Financial Cloud (BKS), last month I noted a net cash outflow meaning a swing to a net debt position. Now a placing at 115p per share raising it £5 million “to accelerate the company’s growth strategy and capitalise on the significant market opportunity and solid sales pipeline”. Hmmm…
The Deliveroo (ROO) IPO has bombed. Is this 2021’s version of lastminute.com in 2001? I ask and explain why I would not be interested. Then I look at Verditek (VDTK) and Bidstack (BIDS) and try to suggest a pricing and timing for their next bailout rescue placings. Now it is off to Wrexham tip with some old tyres because I lead that sort of exciting life.
There may be no limit to the stupidity of the lunatic fans of AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) but the market’s early reaction to this morning’s FY20 results – a drop of 18% – suggests that you can’t fool all of the market all of the time. In short, the numbers are a calamity.
AIM-listed Yu Group (YU.) released its Full Year numbers for 2020 this morning which show continued cashburn, a horrible lack of balance sheet support and negative net current assets. As I had suspected, the trumpeted cashpile announced in the FY Trading Update was a mirage, with payables up and receivables down. The shares may have been on a tear recently, but the company is heading for a brick wall.
It was announced this morning that AIM-listed Catenae Innovation (CTEA) is to delay releasing its accounts to 30 September 2020 with the blessing of AIM Regulation, which has given the company until the end of June on the grounds of the Covid pandemic. I will come to this later, but we were also treated to a trading update……which was indeed a treat, if you are a bear.
AIM-listed holiday resort developer in Crete Minoan (MIN) updated the market this morning….and announced yet another placing, albeit for a small amount, £187,000 (courtesy of Peterhouse) at 1.1p per share and a small debt-for-equity swap worth £70,000 also at 1.1p, with one warrant for two new shares taken at 1.4p. But it is the update which offers a little bit of hope here.
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……
The recent rise in the share price of 88 Energy (88E) has been very noticeable and it has held those gains so far in spite of the company putting out a statement that it knew of no reason for the rise, other than what had already been disclosed via RNSs.
AIM-listed online ladies wear purveyor Sosandar (SOS) has announced a deal with Marks and Spencer to bring a curated collection of its products to M&S’s online store. Whilst there are no numbers offered, this strikes me as good news.
Special Purpose Acquisition Companies (SPACs) seem to be the new buzz word in the UK markets at the moment, certainly amongst PIs on social media anyway, and it would also seem that a few AIM company directors are getting involved as well.
Last night, Argo Blockchain (ARB) announced a bookbuild and Primary Bid offer to raise £26.8 million at 200p. It was hugely oversubscribed. This sector is hot and both retail and institutional investors could not get enough. Good luck to them all.
Xeros Technology Group (XSG) “is pleased to announce… the company has conditionally raised gross proceeds of approximately £8.0 million, through the successful placing of 3,333,333 placing shares” and that it “intends to provide… up to 416,586 open offer shares”. Just how ‘pleasing’ really is this though?…
Communications integration technology group CloudCall (CALL) “is pleased to announce… raising £7.2 million via the placing of 8,845,284 placing shares at the issue price of 81.5 pence per placing share and raising £291k via the placing of 357,169 PrimaryBid shares at the issue price”. Should it be pleased?…
I recently wrote a piece on. ShareProphets suggesting that Asiamet Resources (ARS) would be carrying out a placing within the next few weeks.
The long-running saga of AIM-listed Mediazest (MDZ) and its full results continued this morning, with first a promise to release full numbers for the year to September 2021 eventually replaced with a promise to offer up numbers to September 2020 next week. Apart from the comedic cock-up involving Mediazest’s crystal ball, how sure can we be that the promised numbers will indeed be served up in the coming week? Not very, I fancy!
AIM-listed alternative energy provider Yu Group (YU.) shares have been on a tear ever since it released a trading update on 26th January this year. The shares moved up from a previous close of 120p to close the day at 195p. Today, last seen, the stock is up to 355p having been as high as 370p but something just does not add up here.
This podcast is mainly on the pot bubble looking at Cellular Goods, Kanabo (KNB), Path Investments (PATH) and the odd goings on at Voyager CBD and strange share price moves ahead of today’s placing and Zoetic (ZOE). I also look at Bluebird Merchant Ventures (BMV), Yourgene (YGEN) and naughty Manc scallywag Dan Levi. Finally a comment or two on Scancell (SCLP). The Path/Voyager screenshot is below.
I am massively ahead on the Red Rock Resources (RRR) shares I bought at about the 0.625p offer price when we tipped the shares. Though initially frustrated by news that the company has raised another £1 million at 1.05p, I have considered the rationale and I have bought a few more shares today after recording an interview with Andrew Bell you can watch HERE. Here is why you should also buy the shares.
Following its shocking lack of 2020 AND 2021 profits and disappearing cash warning on February 1, Bidstack (BIDS) is close to running on vapours with net current assets set to go negative by the end of May and cash set to run out before then. Oh dear. What to do? Ramp the shares ahead of a discounted placing from the Nomad and broker which signed off on the grossly misleading pre-Christmas trading statement, Stifel.
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?
If at first you don’t succeed, try and try again. An old rule which it seems that AIM-listed jam-tomorrow investment company Tern plc (TERN) is adhering to. Last month it offered up a Portfolio Update which seemed to me to be meaningless drivel. Now, less than a month later, we have another.
I wondered about the complete non-mention of those clever face masks that AIM-listed Haydale Graphene (HAYD) is supposed to be producing shed-loads of graphene for with regard to the trading statement last week. The more I think about it, the more surprising it is.
Last year, we discovered on Friday that MyHealthChecked (MHC) lost £2.5 million on sales of £50,000. Yes that is dreadful but this company is now about the future of its Covid and other DNA tests and thus it has raised £3.4 million at 1.75p. It was not completely out of cash so, after costs, it probably has c£3.5 million in the bank.
AIM-listed Haydale Graphene (HAYD) offered up a statement on Thursday telling of a sales representative agreement and a trading update. The former offered up visions of Tom Winnifrith’s (lack of) wooing Britain’s favourite chanteuse but the latter seems to me have been more a case of the dog that didn’t bark. What was the first elephant in the room?
Yesterday, Verditek (VDTK) finally ‘fessed that its 2020 revenues would be almost nothing. That is despite it announcing on June 30 that its Italian operation was now “in production and is generating revenue” and the announcement of no less than EIGHT separate orders from 30 June onwards. All of those “orders” were announced before a bailout placing on October 6. And it is not as if this company, chaired by Tory Toff Lord Willetts, has not got extensive form in announcing big orders before placings which then turn out to be bogus. The Oxymorons at AIM Regulation could have stopped this if they had heeded my calls in a letter to them about a full enquiry into past pre-placing deceits going back right to the IPO but they did nothing. There now needs to be a full enquiry into the company and into Nomad WH Ireland with public censures resulting. My letter is below:
Twice in the past week, most stridently yesterday afternoon HERE, I have made it clear that Verditek (VDTK), the serial AIM sewer deceiver ramped by shamed tipster “old mother” Walters and chaired by Tory toff Lord Willetts, needed to come clean on yet another pre-placing deceit and its lack of revenues. I guess the Oxymorons at AIM Regulation were listening as this morning the company fessed up. It’s ouzo time for me!
Asiamet Resources (ARS) is a company that I’ve been a fan of based upon its assets, which look more attractive than ever at current copper prices, but currently I have some concerns as to where its share price might be heading shorter term.
AIM-listed POS Catenae Innovation (CTEA) has announced a placing at 2p to raise £1 million and a further 2.4 million golden tickets are being issues to cover directors’ fees and certain current liabilities. It is Ouzo-on-cornflakes time. But there is another issue…..
On 10 July 2020, I published a devastating and detailed bear dossier on AIM darling Manolete (MANO) with the shares at 515p valuing it at more than £250 million. The company and its odious PR firm Instinctif responded with a pompous and unconvincing denial. I’ve warned you repeatedly since then and yesterday in the late afternoon came a shocking warning. The shares closed at 200p but as lies are exposed, worse, including a bailout placing, will come. So let’s start with the lies.
When I last wrote about AIM-listed Advanced Oncotherapy, at the end of October last year, it had just announced a placing at 30p per share to raise £7.7 million and my back-of-a-fag-packet suggested that despite the new money, it was placing ahoy. Well, yesterday that placing duly arrived with £6 million raised at a rather more impressive 40p. So will this be the last time the company passes round the hat?
With some folks having paid 8p+ for shares in Xtract Resources (XTR) late last week, today the company did a placing to the sewer-dwelling clients of Novum Securities at just 4.5p. The shares are now just 4.8p to sell. Boy those folks suckered in by the Colin Bird ramping must be hurting today. This is so familiar but I did warn you explicitly what the old scoundrel was up to.
Earlier this month I concluded on UK developer of beauty, personal care and life sciences products InnovaDerma (IDP) with the shares above 50p attempted significantly discounted fundraising ahoy? Certainly currently bargepole ahoy / sell, and then with the shares around 50p that a loan agreement just kicked a liquidity crunch down the road and didn’t bode well for the terms of any material fundraising. Today “Proposed Placing and Proposed Open Offer”…
Bidstack (BIDS) managed to ramp its shares up to 13p the other day thanks to the follow on from a trading statement which was long on ramp but short on critical detail. That AIM Regulation allowed a company with a history of deceiving investors to issue such bollocks is another mark of infamy on its already soiled record. After the pump, you know what comes next and it looks to be underway.
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:
Warren Buffett famously told us that those who rely on telling us about EBITDA are either trying to delude you or are deluding themselves. The first line of AIM-listed online purveyor of ladieswear Sosandar’s (SOS) trading update this morning tells us of a record quarter and continued substantial reduction in EBITDA loss. Hmph – not a good start, then, and the shares are off by 12% in early trading. But is there better to come?
AIM-listed jam-tomorrow investment company Tern plc (TERN) has delivered a Portfolio Update which appears to read well until you realise there are no numbers. As such, it is meaningless drivel and even the merry band of Tern’s BBMs couldn’t drum up enough interest: the stock is down 2% on the (non-)news. On the biggest investee, Device Authority – which is apparently worth the lion’s share of Tern’s portfolio – we are told…
AIM-listed technically insolvent POS Trafalgar Property (TRAF) today announced a director share purchase: CEO Paul Treadaway has bought a million golden tickets. The stock is up on the news, but I fear that this is just a textbook spoof.
’Technology group that develops cost-efficient and innovative Light Detection and Ranging optimisation systems for use on electricity generating wind turbines’ Windar Photonics (WPHO) has made an “Issue of Equity & Trading Update”. This includes that second half sales are “expected to represent more than four times the value achieved in the first six months of the year and more than double the comparable period in 2019”… So why have the shares currently responded more than 4% lower, to below 11p?…
In my detailed coverage of the POS AIM Company Verditek (VDTK) I have shown how in every year since its IPO it has announced contracts, ramped the shares and then having raised funds in a bailout placing or two, the contracts disappear. Sometimes it ‘fesses up, sometimes there is no ‘fess, other times I have to run articles and sheeplishly, Tory Toff Lord Willetts and his chums are forced into an RNS. Well here we go again.
I have been flagging up for ages that AIM-listed Yu Group (YU.) needs to raise money. After all, by its own admission it will run out of cash by the end of the year. Now, all of a sudden and with no news, the shares are off by 10%.
Yesterday I took apart the ramptastic announcement from AIM-listed Catenae Innovation (CTEA) regarding its joint venture with BHA Medical, and showed that the JV vehicle was worth just 10p. But the nonsense does not stop there.
AIM-listed Covid-ramp Catenae Innovation (CTEA) has announced that its joint venture with BHA Medical, now renamed Synovate Global Ltd (today the world, tomorrow the universe!), has got two orders for its package involving BHAs Covid test kits and Catenae’s data management platform. Whoopie-do, let’s all pile in –this is going to take over the world. Or not…….there is a catch!
I haven’t written about AIM-listed Vast Resources (VAST) since January, when I said sell at 0.335p. Well, the stock is now 0.1375p so I guess it is time for an Ouzo – but a director share purchase announcement makes me think it is still a sell.
Having previously banked big, quick, gains we again said buy Panther Metals (PALM) in October at a 10.5p offer price, looking for further exploration news upside though also noting risks including the balance sheet. And now recently from the company a placing. Disaster? No way!
Standard-listed Australian Canadian gold explorer Panther Metals (PALM) – chaired by Kerim Sener of AIM-listed Ariana Resources (AAU) – has announced another small fundraise, this time £300,000 worth of new shares at 10p a pop to give the company funding “well into 2021” as it progresses its portfolio of gold assets.
Block Energy (BLOE) is typical of so many AIM listed oil and gas companies, which sound great on paper but usually have spent years failing to live up to expectations whilst burning through considerable amounts of cash in the process.
Three announcements came this morning from Westminster Group (WSG), the cash-guzzling AIM promote run by sleazy ex Tory MP Tony Baldry of 3DM infamy. All add to Tom Winnifrith’s 5th rule of investing: If the porcine piece of slime Tony Baldry is involved, sell.
The last time I looked at online ladies wear purveyor, AIM-listed Sosandar (SOS), my conclusion remained wake me up after the next placing. Will it be any different this time?
RockRose Energy (RRE) was one of the real success stories amongst AIM listed oil companies prior to being taken over for nearly £250 million, and now its executive chairman, Andrew Austin, has made a return to AIM with a new venture which listed last week.
AIM-listed Haydale Graphene (HAYD) has announced the great achievement of its Functionalised Graphene Antibacterial Masks project going into production with partner IRPC Public Company. Put up the bunting, get the champagne ordered……or perhaps not, for surely it has missed the boat.
Well blow me down: AIM-listed John Zorbas POS URU Metals (URU) has rattled the tin and got someone to fork up at 230p per share. Apparently that is around a 10% discount, but given the paltry return for the company it says nothing that is good about the company. A few coins for the electricity meter and, er…..that’s about it.
Pantheon Resources (PANR) today completed a massive placing and Primary Bid offer at 31p. The shares were 33.7p bid (off 4.5%) yesterday but on the 13th they were 40p with some mug punters paying well North of that. On 11th November with the shares at 31p broker WH Ireland published a lengthy research note.
AIM-listed and due for an imminent placing Yu Group (YU.) released a Director Dealings announcement this morning. Given that it has already admitted it needs more cash, my spoof sensors were set ablazing.
Another day brings yet another bailout placing for AIM listed sub scale investment company TERN (TERN). It will not be the last but AIM Regulation needs to investigate the circumstances of this placing for there is now a clear pattern of deception emerging. I have dropped the Oxymorons a letter today.
I wonder if AIM-listed jam-tomorrow investment company Tern plc (TERN) is already working on a placing, for this morning’s ramptastic Portfolio Update offered as the market celebrates the vaccine news from Pfizer saw the shares come off 7% to 9.5p before a partial recovery. Are placees already selling, or has the market seen through the promise of yet more jam tomorrow? But one thing is for certain: Tern needs more cash pronto.
AIM-listed jam-tomorrow investment company Tern (TERN) has seen its shares come crashing back down again: there is still no news from Wyld (quelle surprise) and another stack of cash has headed off to the great computer in the sky over at Device Authority – not that Tern has announced that either. Having raised £1.5 million back in July, I wonder how much cash will be left over by Christmas.
Yesterday AIM-listed POS Inspirit Energy conceded that Chris Heminway’s call for an EGM had been successful and that a vote on whether to bring Mr Heminway and one other onto the board at the expense of an existing NED will take place on 27th November. It was also announced that Mr Heminway’s holding had again increased, now to just over 9%. But Inspirit has now played its own hand with a “Product Update”.
The question is more what it will be. Shares in AIM-listed jam-tomorrow investment company Tern plc (TERN) have more than doubled in recent days but there has been no RNS to explain it. The speculation on the BBs is that one of its investees has got a big deal. But if there is no RNS……
Shares in jam-tomorrow, next year, never investment company Tern plc (TERN) have gone on the rampage – emphasis on the ramp, for there has been no RNS. Are we again to see the company get a placing away whilst there is perhaps a misapprehension over its prospects in the market?
AIM-listed Advanced Oncotherapy (AVO) has announced a fundraise at 30p to raise £7.7 million (before expenses) – as predicted HERE by yours truly. Time for another glass of Ouzo, methinks.
Back in August I wrote about Shanta Gold (SHG) as being worth a look at around the 16p level, and with a chance of a good profit over the coming months.
No one’s watching o’clock (after 5pm) is well established for writers on this site. We watch. We read. Any company that publishes substantive information after this time is immediately red flagged for review. Yesterday at 17:39 ITM Power (ITM) published year to April 2020 results. It also declared a very significant 235p placing of £165 million, corner stoned by Snam S.p.a. What a dilemma!
Skinbiotherapeutics (SBTX) boss Stuart Ashman until today held zero shares in the company. And he told us all that it had enough cash to last it until the end of next year at least. And so now there is a £4 million placing and £500,000 open offer at 16p. Mr Ashman can you see why I might be annoyed?
This morning AIM-listed Catenae Innovation plc (CTEA) has issued two RNSs covering a new joint venture with BHA Medical – to which is it issuing 10 million warrants at 2.5p, and a further 2 million warrants at 2.5p to “other parties”….whoever that may be. Catenae’s shares are up to 2.8p on the news, so BHA and person or persons unknown are already in the money.
