I think that it was our reader from the Paddington Dungeon who first alerted me to the merits of checking out the website of Parsley Box (MEAL). Not to actually order any of its revolting produce which may satisfy commentator PL but would make my cats and most right thinking folk somewhat nauseous. But for the signs it offered of how bad trading had become.
We have warned numerous times on this website that Cineworld (CINE) is drowning in debt and thus needs a debt for equity swap and a massive fund raise which will dilute all current shareholders massively. Our complete coverage is HERE — nobody could say we have not got this 100% right. Could things get any worse? They just did.
In its November 15 trading update Cineworld (CINE) included a table, which compared revenue from months in 2021 with revenue from months in 2019. This was an attempt to illustrate that cinema viewings were returning to pre-covid levels, the CEO specifically commented that “We are thrilled to see audiences returning in significant numbers”. As Tom pointed out then, Cineworld made these comparisons notwithstanding that October 2021 had five weekends whilst October 2019 only had four weekends. Given that cinema viewings tend to cluster around the weekend, this meant that the October 2021 numbers artificially appeared stronger than reality.
Just how many profits, or rather lack of profits, warnings has IQE (IQE) issued during the 21 years since its 2000 IPO at c400p. The shares are today 40p after the Pride of the Welsh tech sector added another warning to its, already extensive, collection. I hope that folks have listened to my warnings over many years that this is a dog with fleas, or ci gyda chwain as we say here in the post-industrial, rain sodden, second world province.
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.
When I read Purplebricks (PURP) CEO Vic Darvey prattling on about a solid platform to achieve longer term targets my mind immediately switches to thoughts of Cheryl Cole. I feel that I too offer an increasingly solid platform (boom boom) and I have my targets too. Whatever … today Vic served up a ghastly profits warning and shares in Purplebricks (PURP) are in freefall. You cannot say that this site has not warned you all often enough. So what’s the story morning glory?
I sart with the unhappy young man. Actually he is in his 40s. But it is a tale which, I suspect, is being replicated across the UK. It will trigger abrain drain as we go back to the 1970s. Then I discuss the scumbags at Abingdon Health (ABDX) screwing PIs ahead of an inevitable placing, I ask when Sosandar (SOS) will warn as it surely must, I look at share trades in the fraud Chill Brands (CHLL) and what they mean and then ask what the xxxx (Matthew & dog please insert word) Luke Johnson is doing investing in the lifestyle business run by the upper class twit of the year that is Marechale Capital (MAC). I am sure it will do better as an investment than Patisserie Holdings (CAKE) but not that much better.
It was just 23 days ago when Parsley Box (MEAL) issued its second profits warning since 200p a share IPO on March 31. I warned things would get worse but the savant of our own comments section PierotLunaire boasted as pompously as ever that he was set to complete his due diligence by tasting a mail order meal from the firm before joining his City fund manager chums on the shareholder list and filling his patrician boots at 117.5p. Of course the fund managers and PL always know better than old Tom. Today the shares are 64p after yet another warning!
After the July lack of profits warning, you might have thought that interims today from Parsley Box (MEAL) could not make things any worse. You would be wrong. Anyone buying into the IPO on March 31 when the company raised £5 million and existing shareholders dumped £12 million of shares, would look at the unfolding horror and feel physically sick. This is what happens in bull markets, shit floats, smart folks cash out and fund managers show they are as dumb as anyone else and buy into it all, albeit with other folks’ cash.
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…..
Shares in Bidstack (BIDS) have slumped to just 2.95p today. There are two reasons for that but mad Jew-hating loons on the Bulletin Boards think there is a third. Of course, blame the wicked Jews for everything. Just why does this company attract such total lunatics? Do you remember cross-dressing IT freak Mike Turner from Northants?
In trading, timing is everything and the board of Best of the Best (BOTB) look like they are the kings of the timely trade. On 31 March 2021 the company announced a heavily oversubscribed secondary placing. The RNS on April Fool’s day stated
Perennial AIM casino disappointer TrakM8 (TRAK) started today’s statement with the good news: a modest contract win. But this company never fails to disappoint and so having hyped its H2 prospects before Christmas now we have the bad news.
Blur Group (BLUR) floated at 82p and half a decade and a name change later delisted from the AIM casino at 0.23p. In its five years of AIM casino infamy led by CEO Philipl Letts and his ghastly Mrs, Kara Cardinale, who was the Chief Delivery Officer, it was slammed by the FRC for dodgy accounting, had numerous lack of profits warnings and bailout placings and was a case study in value destruction. As a reminder here is the track record during Letts' tenure as CEO:
I start with a note on Bidstack (BIDS), which I shall be taking up with AIM Regulation over the weekend and end with Future (FUTR) which needs to issue a profits warning. In the middle I go therough the very murky tale at AIM listed All Active Asset (AAA) which sees uber ramper Chris Akers in action and Peterhouse Corporate Finance boss Peter Greensmith make a £768,000 killing in his private vehicles while acting as broker and pulling the strings at AAA and also acting as broker to suspended AIM stock Asimilar which is involved in this strange tangle. Then it is onto Optibiotix (OPTI) and a small placing. But this is not a bailout as Cynical will no doubt claim but,possibly a gateway, to a mega re-rate as I explain.
Want to placate your investors and even normalised EBITDA (bullshit earnings) still looks bad? Well here is a coffee mug for many FDs flagging up another possible adjustment. With a hat tip to Jim Mellon for this spot...
I start with my first proper training walk for Rogue Bloggers for Woodlarks. Think of my sliding through the mud on my backside and make a donation HERE. The it is onto bailouts and wbhy you and I, ordinary taxpayers, should not bailout folks who own Carribean Islands and pay no UK tax, i.e. Richard Branson. Finally I look at when FinnCrap (FCAP) will serve up its next profits warning and why the shares, now just 17.5p, should plunge to 6p. And I am being generous.
Shares in Telit Communications (TCM), the company founded by mortgage fraudster Oozi Cats, have collapsed from 170p two months ago and 150p a month ago to just 114p to sell. There are three possible reasons for this and I have written to the Oxymorons at AIM Regulation asking it to force the poltroons at Nomad FinnCrap to force Telit to issue a statement. The letter is below.
Are the deadwood press still blowing smoke up the arse of Sam Smith, the boss of FinnCap (FCAP), a woman showing the men how it’s done in the man’s world of broking and corporate finance? Maybe there will be less blowing after a shock profits warning today.
Bah! Humbug! I’m back with this year’s annual ShareProphets Bury Bad News Christmas Sweepstake. With Christmas falling on Wednesday this year, any corporate news released next week immediately falls into the no-one-is-watching o’clock category. But this competition is about bad news released on Tuesday, Christmas Eve, which companies clearly don’t want their shareholders to know.
I lose count of how many warnings cash guzzling chip producer IQE (IQE) has now issued in its current sequence but, as I predicted, another one has arrived. The worry must be now that iby Q2 2020 it will find itself right up against the limits on its new £57 million bank facility.
Of course what Bidstack (BIDS) should be doing is issuing a trading statement via RNS. Does it still expect to have 24 games live by December 31 as forecast by Peterhouse. Or to have FY revenues of £5.75 million (having managed £26,000 in H1) or to achieve FY losses of just £500,000 (having lost £1.5 million in H1). The answer of course is No, No and No which is why the company should be issuing a formal profits warning and if Nomad Mark Brady at SPARK was not such an utter poltroon he’d be forcing the issue. Instead Lyin’ James Draper has issued a trading statement on LinkedIn. My guess is that his nose is just that bit longer as a result.
I remember long ago doing a seminar with some CEO or other. I cannot remember who it was but it was one of the slugs operating at the lower end of the AIM Cesspit. I pondered whether his interests were aligned with those of ordinary shareholders: how many shares do you own? I asked.
In today's podcast I look at the looming General Election, at a pathetic excuse from Hargreaves Lansdowne (HL.) for not commenting on Neil Woodford, at Sound Energy (SOU), the ramp du jour Euraisia Mining (EUA), at the scandals at Tern (TERN) and Big Dish (DISH) and what they say about the institutionally useless FCA and AIM Regulation and at the profits warning from Empressaria (EMR).
As if those folks who do not mind that CEO James Draper lied to them on August 8 about H1 results do not need another reason to sell their shares in Bidstack, Draper has provided it by dumping stock himself. Smart move.
Of course I only record this because I am in the pay of the Israeli and Russian Governments. Whatever. I start with the pathetic deadwood press and how Richard Jennings blows them off to his shame and my disgust. But this podcast is really all about Bidstack (BIDS). Its CEO lied to investors on August 8 as explain with more detail this time. Ther case is open and shut. Now the company needs to issue a formal lack of profits warning. Again that is not a matter poof debate as I explain, in case wretched Nomad Mark Brady of Spark is listening and wants to avoid getting into even more trouble after his August 8 failure. Finally I ask how soon it will need to place again?
Let us be clear: bulletin board darling Bidstack (BIDS) has flouted AIM rules, it sitting on a profits warning & is grossly overvalued.
Yesterday AIM Casino listed Altitude (ALT) served up a very nasty lack of sales and profits warning relating to the six months to June 30th as Steve Moore described HERE. What absolutely stinks to high heaven are three share transactions made by founder and NED Martin Varley. Those trades would have had to be cleared by the board and the Nomad, hapless FinnCap, to whom I have written in today, copying in the regulators. There is another big issue that needs investigating too...
In today's bearcast I look at shitty little gold plays like Conroy (CGNR) and Condor (CNR) at their relationship to the gold price. I cover Burford (BUR) noting today's interventions from two giants of the investment world: Carson Block of Muddy Waters and Roger Lawson of ShareSoc. I look at Providence Resources (PVR) a comedy set to end in tears, at Diversified Gas & Oil (DGOC) a tragedy set to end in tears and also at Neil Woodford and that Cenkos (CNKS) profits warning.
We warned you two days before the most recent profits warning from IQE that one was on the way, HERE, and when it arrived it meant that the company was a slam dunk cert to need a bailout placing. Today we discover that Canaccord has been axed as Nomad and replaced by Peel Hunt while Citigroup joins the party as co broker. This can only mean one thing, that bailout placing is imminent. So with the shares at 52.4p on Friday (and overvalued at that) at what price do you think the placing will be at? Vote below with a deadline of midnight tonight.
I’ve been a bear of AIM-listed Haydale (HAYD) all the way down from 120p, and saying sell at 78p, to today’s miserable 1.775p but this morning’s trading statement gives me no reason to change my stance. I may have closed out in my five slam-dunk sells for this year but even then I warned that I would still be inclined to sell and I certainly wouldn’t buy here. Well, we’ve had a trading statement this morning – more remarkable for what it does not say rather than what it does, and that is never a good sign.
The Sheriff of AIM is surely entitled to a celebratory breakfast ouzo at his hovel in North Wales? On Wednesday I flagged up a profits warning from the Krauts at Siltronic and suggested that IQE (IQE) was likely to follow. Less than 48 hours later the Cardiff dog duly barks. As a long term bear I have repeatedly warned silly sell side analysts, Thirsty Paul Scott and others that this company is a crock…once again I stand vindicated. And so to detail….it is grim.
I start with a tale from my early career and then cover Mosman Oil & Gas (MSMN) - the two are related - Iofina (IOF), Portmerion (PMP) and its profits warning, but is it a buy? And finally I look at Audioboom (BOOM) and worry that another placing will be needed soon. Finally, we are over £20,000 now but most bearcast readers are yet to donate to Rogue Bloggers for Woodlarks, If you have donated I thank you. If not, please go HERE TODAY
Purplebricks (PURP) is notorious for sending fascist lawyers letters to folks who criticise it. But in the US libel laws favour free speech not heavy handed corporates keen to gag whsitleblowers. Ultimately a business model that is predicated on screwing both staff and customers is doomed to fail and I shall turn to the latest lack of profits warning from Purplebricks later today. However, for now, I inveite you do enjoy the world of Purplebrickssucks.com - read at your leisure and having done so I am sure you'd agree that only a true moron or Neil Woodford, would want to own shares in this company.
As far as I can see, Management Resource Solutions (MRS) is insolvent so it does not matter how dismal its profits are, it is simply not generating free operating cashflow. As the old saying goes, profits are a matter of opinion, cash is fact. But for what it is worth Management owes us a profits warning…let me explain.
Shares in Yu Group (YU.) have been slipping for a few days, and today they are off by 13.5% at just 75p bid, 85p offer. Of course, we already know that it was making up its numbers until the appointment of the new FD and the bean-counters have been crawling all over the company since then…..as has the FCA. A few days ago the stock was at around 120p, so why the drop?
Britain’s most conceited fund manager, Neil Woodford, has been catching the Purplebricks (PURP) falling knife all the way down and, as at October, his funds owned 29.25% of the company and so he really can’t buy many more shares. And the problem is that no-one else out there is daft enough to throw good money after bad and thus the stock continues to head south. At 123.8p to sell the shares are almost back at the level of the most recent profits warning on February 21. That tells you that another warning, a full year one, is one the way.
Shares in IQE (IQE) are volatile. In the past year they have traded between 136p and 56p and closed yesterday at 68p. The market can often be unforgiving when companies disappoint but in the case of IQE it seems remarkably tolerant…
In today's bearcast I take a very detailed look at IQE (IQE) and explain why the shares are worth 40p max, potentially half of that. I also cover Blue Jay Mining (JAY), Yourgene (YGEN), Tomco (TOM), Cloudbuy (CBUY) and F40 member POS Walcom (WALG). If you enjoyed this, I think, profanity free bearcast, follow a bloke from the Grim North who donated enough to buy a whole house in the welfare safari and support the Rogue Bloggers for Woodlarks HERE.
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.
You cannot say that this site has not warned you repeatedly. But some folks like Neil Woodford knew better. Britain's top share blogger (mornings only), Thirsty Paul Scott, was also a fan and we know how accurate his analysis is. I don't know about Scott but Woodford has been averaging down aggressively. Neil always knows better which is why he is worth £37 million a year. Today we have another high profile horror story for Britain’s most conceited fund manager & yet another shocker for the nation's thirstiest share blogger, with a truly shocking lack of profits warning. I shall explain below why this makes the target price 0p....it is enough to turn a man to drink.
With every other Nomad/broker in town having issued a profits warning in the past few months it is only a matter of time before FinnCrap (FCAP) has to 'fess up to. But quite amazingly the shares still trade at their IPO price of 28p valuing FinnCrap at £47 million which today’s ShoreCap (SGR) purchase of rival Stockdale shows to be a joke.
As I predicted, IQE (IQE) served up another profits warning yesterday. I do a bit of number crunching in this podcast which also looks at the way Frontera (FRR) holders deal with their grief, given the Rolls Royces they were promised by the company's liar of a CEO
Free speech denying, relative employing, value destroying serial bullshitter Rob Proctor of Audioboom (BOOM) is at it again with a trading statement that Nomad Allenby should be thoroughly ashamed of, in every respect.
In today's podcast I explain domestic disturbances caused by the need to move to the Grim Northern welfare safari and to be closer to my mother-in-law. Oh happy days. In the podcast itself I look at FinnCap (FCAP), IQE (IQE), UK Oil & Gas (UKOG), Amur Minerals (AMC), Cabot (CAB) and Corero (CNS) a most almighty sell however you look at it.
And so, at long last, AIM-listed graphene play Haydale (HAYD) has raised some money. With the shares closing at 25.5p last night, it raised just £250,000 in a placing at 20p (a 21.5% discount) and £750,000 by way of a loan from the Development Bank of Wales at 11%. Oh, and we have a new finance director (did he jump or was he pushed), the former CEO (who stepped down on the profit warning back in June) is off (did he jump or was he pushed too?) and so is a NED.
I prepare for Joshua's first meeting with Santa in 2018 and discuss that. I look at Telit (TCM) and its latest wholesale breach of AIM Rules. Why does FinnCrap (FCAP) not care? I ask when FinnCap will have its first profits warning. I look at Purplebricks (PURP), Mysale (MYSL) and Bilby (BILB).
Following a week of intense share price weakness, Audioboom (BOOM) has served up, what looks like, a panicked trading statement. It is long on blather but fails to mention the one thing that really matters: the looming cash crisis. This company could be out of money and insolvent by Christmas, indeed sooner, but free speech denying, family on the payroll poltroon of a CEO Rob Proctor fails to address that elephant in the room. I suppose that there is some good news.
TrakM8 (TRAK) served up dismal interims late last week but as I warned then, things could get an awful lot worse. It all depends on how much the bankers at HSBC and panicking and what they are doing about it. TrakM8 needs to fess up to investors and make a statement.
For a while it was going so well for TrakM8 (TRAK). Put out RNS’s saying you had cash when you had debt, record ramptastic interviews with thirsty Paul Scott and get him ramping hard, make really dodgy acquisitions that made no sense, generate no cash and watch the shares go ever higher. Then the Sheriff of AIM started to look underneath the hood and kick the tyres. The shares were 360p back then. They are opening today at just 23p to sell after a truly diabolical set of results and a (lack of) profits warning. If you were at the heart of the rampfest, it would be enough to turn a man to drink.
I noted last night in my bonus bearcast that the real short position in IQE was, whatever the FCA says, probably well North of 20% and that as bears used the profits warning as a reason to close out what is clearly a “crowded trade” this would provide some share price support. And so it has come to pass. The shares are up 4p at 71p having fallen 29p in late trade Monday. IQE has also clarified its profits warning and that has offered some comfort. It won’t last. You see it is all about cash.
Oh dear. When Neil Woodford spunked £8 million of other folks cash into the July 2017 100p a pop AIM casino IPO of yacht refitting company GYG (GYG) he thought this would be plain sailing. Oh no. Au contraire. The reverse Midas touch has struck Britain’s most arrogant fund mis-manager withy the second (lack of) profits warning in two months. Now I suggest the banks must be shitting themselves, the shares are 42.5p, sinking like the Titanic, as friendless as the Marie Celeste, and things are only going to get worse.
Tom mentioned clothing retailer Superdry (SDRY) in a bearcast just under a week ago and highlighted the recent profits warning, which was based on warm weather hitting sales of fleeces and the like. The shares are down at five plus year lows and this is starting to have an impact...on the rhetoric from one of the founders. I was amused to read in an article in the deadwood press earlier today that:
A bad day for diversity as AIM loses a female CEO in the form of Melissa Blau at Veltyco (VLTY). No doubt our wretched Prime Minister Theresa may will be cross about this but folks who care about weeding out failures and rewarding talent rather than daft quotas will not be crying. The question is whether Veltyco’s statement is true or not. Methinks it is not.
Oh dear, oh dear. At what point will those who have backed this crock of shit decide that it is not worth chucking any more cash down this black hole. I know that free speech denying boss Rob Proctor and his relatives on the payroll need jobs but but this company is just a disaster zone. As he wakes up for a meeting with Karma today, Proctor tries to polish the turd but today’s lack of profits/almost out of cash warning is his worst yet. And that takes some doing given his track record of abject operational failure and of consistent value destruction
Debenhams (DEB) and Dunelm Group (DNLM) both featured heavily in the financial press this week and while both had some disappointing news to share, both broker and tipster outlook about the future of both companies was vastly different. This week, we take a look at the respective performances of each, and how tipster sentiment has shifted over time.
My long term bearishness about TrakM8 (TRAK) a company that issues misleading RNS’s, makes ludicrous acquisitions as it racks up its debts and never translates profits (a matter of opinion) into cash (a matter of fact, unless you are an AIM China fraud) is well documented here. Of course, Thirsty Paul Scott had cosy chats with the management and knew better than a "nutcase of the first order". Today the shares have tanked to a new multi year low after another dire statement.
After a share price slump yesterday on media speculation of widespread store closures and other nasties, Debenhams (DEB) has had to put out a trading statement and its use of language shows evil PR spinners Brunswick earning their fat fees as they do Satan’s work, dressing up a profits warning as nothing of the sort.
Oh for the days when Rosslyn Data was run by that colourful chap who seemed embarrassed about his career in pornography. These days a boring bean counter is at the helm but the company is still a dog serving up a double profits warning topped with a meagre dose of jam tomorrow today. The balance sheet is a total wreck and surely another bailout placing is needed.
In today's bearcast I celebrate six years of being a full time investigative writer not a crony capitalist. I take issue with Roger Lawson on the deadwood press and how the view me but agree partially with him on Inheritance Tax. I explain why there is a flood of Julie Meyer material and why it is justified. I look at Alfa Financial (ALFA) and its 1 year anniversary profits warning. I update on the African Potash (AFPO) class action against its Nomad Cantor Fitzgerald and how things are moving and why this could be my crowning achievement. Finally.. we are almost at £5,000. We are seeking to raise £20,000 for Woodlarks. that will be a game changer for a great charity. 95% of listeners have not donated. To those who have I say thank you. To the rest, I know you can afford a tenner. Please cough up now HERE
You rather lose count after a while. The first 2017 profits warning was on August 7, when mortgage fraudster and fugitive from US justice Uzi Katz served up the interims. Thereafter with insider dealer Yosi Fait taking over Telit Communications (TCM) has served up so many profits warnings that I have almost lost count. And today there is another...
Today saw the second profits warning in three months at Luceco (LUCE). It floated at 130p on 17 October 2017 but here is a more recent timeline to consider.
For those who think Rob Terry,, the king of the fraudsters, has got away with the £3 billion Quindell (QPP) scam, there was confirmation today that the Serious Fraud Investigation continues. Actually you can see that on the SFO's website but that Watchstone (WTG) - Quenron wi8th a face lift - confirmed it suggests it is still co-operating. Of course it is. Its new managers loathe the criminal Terry. I do expect arrests this year. The other news - a lack of profits warning and again this is Terry's mess.
The Daily Mail today reports that the price of Fortacin, the Premature Ejaculation treatment, on which Jim Mellon's Regent Pacific has bet the ranch has been slashed by 80% "just in time for an anticipated sales boom at Christmas." Chaps you are pulling my plonker.
After three profits warnings since August 7 and the forced departure of its founder and CEO, the Boston fraudster, Uzi Katz, Telit (TCM) is still not coming clean with us. Part of the blame for that must lie with its morally bankrupt Nomad FinnCap. And so I have 10 questions for it and offer up my probable answers since Telit does not do transparency.
Yosi Fait sold all his shares in Telit (TCM) AFTER it breached its banking covenants which as FD he must have known about as he must also have been aware that first half trading was way below forecast. But the company's new chairman has taken external legal guidance and said Yosi did nothing wrong and so has appointed him full time CEO. Well that's alright then. But there is yet another catastrophic profits warning ( as predicted) which begs the question of how great is debt now and will bank covenants be breached again?
React Group (REAT) admitted last week that it would miss forecasts for the year to 30th September. It states that the unaudited numbers show revenue of around £2.65 million and a pre-tax loss of around £400,000.
When Fishing Republic (FISH) joined the AIM Casino at 15p in June 2015 it published an admission document bulging with red flags which I pointed out in numerous articles HERE. But brokers Northland pumped the stock shamelessly up to well over 40p to get away more placings. But today the shit hit the fan with a shock (lack of) profits warning but the maggots are only now starting to emerge. At 22.5p this is a zero in waiting.
Just a short bearcast today as I had to rush off for my regular Thursday morning date with the Fit Young Mums. In today's podcast I talk about the IPO/RTO today of Sosandar (SOS) which we own shares in and I reveal the first of the celeb investors. Then it is onto Playtech (PTEC) and some wider thoughts on gambling regulation in the UK. Finally there is a look at Rosslyn Data (RDT) where - hat tip Roger Lawson - it is surely profits warning ahoy. I look back at the numerous Rosslyn red flags.
Erik, your company MySquar (MYSQ) has committed securities fraud so I guess that makes you a fraudster. Do you think that is libellous or will you accept that I have a solid defence, viz I write what I have already proved to be 100% true: Go on you criminal low life scum please threaten to sue me? In this podcast I ask more questions about MySquar and suggest that Beaufort Securities might just put Erik out of his misery. The shares are now 1.8p to sell and 0p is inevitable.I also look at another zero in waiting BNN (BNN) where today's whitewash stinks., Finally we have a profits warning at Carpetright (CPR) which tells you all you need to know about the British consumer and his nightmare on debt street. I once again discuss BCA Marketplace (BCA) in this context. The big short.
Roger Lawson of ShareSoc bought a few shares in Rosslyn Data (RDT) as a recovery punt in a placing. That he was able to get EIS relief added to the attraction although I still worry he will lose money on this company which I have highlighted many times (HERE) as a howling dog even by the standards of AIM. Lawson attended the AGM yesterday and reports back on what appears to have been a curate's egg in his mind. I think he is being well generous.
Clearly no-one told Belfort Securities that its star client in the fraud sector, MySquar (MYSQ) was going to have a disastrous lack of profits warning today which exposed how it had massively misled investors for months. Because yesterday it urged its clients to fill their boots at 4.02p with a 21p target. At least this shows that at Belfort the Chinese walls between research and broking have no chinks in them. The shares are now 2.98p and are worth 0p. Over to Belfort....
On the surface of it, the retailer Topps Tiles (TPT) looks cheap. Even after today's trading statement the shares, at 73p offer trade on a PE of just 10 for the year ended 30 September 2017. But do not bottom fish. Here's why.
Yosi Fait the proven insider dealer who runs AIM Casino posterboy Telit (TCM) because Sam Smith's morally bankrupt Nomad FinnCap does not care if its client firms are run by criminals, has served up a bullshit heavy (bogus) profits warning.
Interims from Strat Aero (AERO) today are dire. They show a company that was bust on June 30, one with zero earnings visibility and an ongoing cash burn. There is a lack profits warning and a tacit admission that a bailout placing is inevitable. I should cocoa. But even if there is a heavily discounted bailout this company is probably toast. The shares are worth 0p. SELL. This is, like most stocks promoted by the Sith Lord, Zak Mir, toast.
No I am not talking about Sam Smith's beau, the CEO of Telit (TCM), white collar criminal Yosi Fait. Instead I am talking about betting on oil exploration calls. I cover Jersey Oil & Gas (JOG), formerly Crap Oil, Providence Resources (PVR) which has always been a crap company and I look at Stellar Diamonds (STEL). I then look at the ghastly profits warning at UP Global (UPGS) and the read across from that. There will be more on the Big Issue seller in the Silver Merc on my own website later.
Oh dear, oh dear, it seems as if my old friend Jim Mellon had a bad day at the office on Friday. Hat tip to a reader who has just alerted me to a quite diabolical (lack of) profits warning from Regent Pacific which has many British shareholders thanks to its all share rescue takeover of AIM dog Plethora (PLE).
Avanti Communications (AVN) has surprised no-one with a grim old trading statement covering the year to June 30th 2016. But the CEO who boasts of how he misled investors with a faked demo to raise funding has - as usual - tried to make a shit sandwich more palatable by serving it covered in oodles of jam tomorrow. But there is something that bombastic prick David Williams is not telling you....
A couple of weeks ago AIM uber dog Servision (SEV) warned that its calendar 2016 results would be worse than expected. Today we have those numbers and guess what? Not only was that June 15 trading statement a slam dunk lie but we also have a new (lack of) profits warning about 2017. Why the AIM Rule breaching delay in announcing that bad news. It gets worse...
I have been deeply troubled by the most recent lack of profits warning from AIM listed worthless POS Servision (SEV). My initial view, expressed HERE, is that in not admitting to order slippage from December for almost six months it had committed a massive breach of AIM Rules regarding timely disclosure of price sensitive news. But I fear it may be far worse than that.
Servision (SEV) the AIM listed POS has today slipped out a horrible calendar 2016 profits warning but the fact that it has waited five and a half months to do so is surely market abuse. AIM Regulations state that price sensitive information must be anounced as soon as it is known. How on earth can the company's hapless Nomad, Allenby, tolerate this state of play? Or does it not care as long as it is paid?
Updating previously on K3 Business Technology (KBT) in January, we noted a most disappointing profits warning. This is now reflected in announced results for the company’s half-year ended 31st December 2016 – about which we have now spoken to management…
Shares in NCC Group (NCC) have slumped by 9.5% to 162.5p in late trade after a shocker of an announcement posted at 4.16 PM today. Not quite no-one is watching O'Clock but still late in the day. If you were on your way to the capital markets investor rampfest day it was holding tomorrow, don't bother. It has been cancelled. Cheers,my cyber security expert friends, did you not know you were going to have to issue a shocking profits alert until just now? How long have you been sitting on this bad news? Thanks. can I get a refund on my train ticket?
All the shit I got when I warned y'all repeatedly what a crap company TrakM8 (TRAK) is almost seems worth it now after yet another awful profits warning. No doubt share blogger Paul Scott, crony capitalist PR Man Reg Hoare and uber-bullish analyst Lorne Daniel of Finncap have already ordered that crates of ouzo be sent to me at once as my top analysis is vindicated again. It is what this warning does not say that should terrify you. Things will get worse.
I take a detailed look at fad investing covering the big California drone fraud but also Fitbit which had a shocking profits warning today, Fitbug (FITB) and Cloudtag (CTAG). I look at two China frauds on AIM in big doo doo, Jiasen (JSI), which is definitely a kill for the Sheriff of AIM, and Taihua (TAIH) which will be. Then I look at Torotrak (TRK), Guscio (GUSC), Greatland Gold (GGP), Andalas (ADL), Golden Saint (GSR), Amur Minerals (AMC) and finally LGO Energy (LGO)
Whenever you get a big drop in the share price of FTSE350 companies it can represent a buying opportunity, depending of course on what caused the drop in the first place.
Coral Products (CRU) served up its interim results on December 8 with a bullish statement on the rest of the year. Today we are told that "a poor trading performance at its Coral Products Mouldings Limited subsidiary during November and December 2016 group profitability for the year ending 30 April 2017 is likely to be materially below management's and market expectations." WTF - how on earth was the December 8 statement not massively misleading? is that down to a deliberate wish to mislead or just incredibly bad internal financial controls?
I predicted in November that Mitie (MTO) would soon be issuing its third profit warning and that new boss Phil Bentley had every incentive to clear the decks and start afresh, demystifying the opaque balance sheet bequeathed to him by his prickly and defenestrated predecessor Ruby McGregor-Smith.
I have been alerted by various folk to the fact that a Fox Marble (FOX) customer Eboracum Marble has a First Gazette notice out against it which, according to the knockers, means it is going bust/is a fraud and that Fox will issue a profits warning. This has seen the shares drift to 7.75p. Sometimes before you hit the sell button it pays to make a few phone calls. Which is why you should buy the shares today.
I have an awful cold so cannot speak properly and the Mrs is giving me grounds for divorce (again) with awful TV choices as I suffer from my ailments. In the podcast I cover insider dealing (ref Logica), buying after a profits warning (ref Red Rock & SpaceandPeople) and why the bulls are wrong even though the FTSE 100 is at a record high (ref Malcolm Stacey)
Having been tipped at a 148p offer price at the start of 2013, shares in K3 Business Technology (KBT) have more recently exceeded 350p. However, they are currently back to circa 240p following a disappointing“Trading update” announcement.
We had, according to the totally unbiased panel from the Global Shorting Conspiracy, a stonking 23 bad news RNSs released on the last trading day before Christmas - with a couple of stand-out releases from Kenmare (KMR) and TLA Worldwide (TLA) which really took the biscuit. But how many will we see this Friday, the last trading (half-) day of the year? Place your bets….
Today's end of year trading statement from Eden Research (EDEN) is a disaster. It does its best to distract you from a looming cash crunch and a profits warning but what it also makes clear is that the Terpenetech deal of August 2015 was a fraud. How do we know? Because it is not mentioned. It is swept under the carpet. FRAUD, FRAUD, FRAUD I say again FRAUD.
As a boy I would eagerly await the start of each month. Before I went to bed I said hares brown hares and my first words on waking would be rabbits white rabbits. That was meant to bring you luck. These days the start of the month ritual ( well six days in) involves chortling at the latest dire statistics AIM provides about itself. November was as bad as prior months. AIM is nothing if not consistent.
There are few shrewder analysts of the Business Services sector than Matthew Earl, the man who called the demise of Connaught way before the herd, and more recently questioned the value of Mitie (MTO), suggesting a profits warning was on the way.
Cynical Bear has already put Cloudtag (CTAG) to the sword after yesterday's no-one is watching O'Clock profits warning but I think he is going soft in his old age in that he is far too generous about this worthless fraud. There is a massive question which remains unanswered as the shares head to an eventual zero.
There is a minor profits warning from JD Wetherspoon (JDW) today and thus I urge you to all go and buy a pint of its finest cheap lager to show solidarity with the company's founder and boss Tim Martin who has used his trading statement to point out how EU leaders are hitting their own people, not us, with the mad anti-Brexit actions. Over to hero of the day Tim Martin:
Yesterday Avanti Communications (AVN) issued a dire lack of profits warning. Having warned folks in a special 25 minute session at UK INvestor (HERE) that this one was heading for the knacker's yard, the bear community is vindicated. Our big call is looking good. But have you seen how the existing debt ( in which Avantis drowning) responded. It says the shares - down 60% to 24p yesterday - are near as damn it toast. The target here is 0p or very close to that.
Maybe the drift in the share price ahead of Monday's profits warning from tech recruitment firm Interquest (ITQ) was telling us something. If so I'm sorry we did not hear it. The statement caused the shares to really tank. To over-react in my view.
Oh dear, all those posh kids who were too thick to do anything else and ended up working at upmarket London Estate Agents Foxtons are going to get fired. It is almost P45 time for the young toffs as a dreadful profits warning is out today which, utterly unfairly, blames Brexit. Bloody Boris Johnson. He's not only screwed half the woman in London now he's fucked Foxton's too. The rotter.
Phil "InterX" Crawford is still to answer the question of the circumstances of his departure from Oracle. Meanwhile there are increasing questions about yesterday's £8 million rescue bailout, in addition to the ones posed HERE. Lets start with that profits warning on 19 April.
The shares were 4.25p offer when we tipped this but they are still cheap. Naturally our paying customers got in at lower levels that you can today. However the thesis stands. Falanx (FLX) has not covered itself in glory since its AIM admission just under three years ago. There have been a couple of profits warnings and, just over a year ago, there was a change of strategy, a shift from profitable but dull traditional security to dealing with cyber security. It sounded sexy but it meant huge losses and the shares have slumped to 4p-4.5p. But they are now a buy. Why?
Amino Technologies (AMO) has announced “a strong first half performance with record order intake and a very encouraging backlog to take into the second half of the year following sales growth in key regions”. Sounds interesting…
24 hours to go to UK Investor and I am screaming at all comers, I really hate the days in the run up to the show. Anyhow (it will all be over tomorrow and I hope you have a great time. Can someone bring me a bottle of ouzo to dull the pain afterwards? On today's podcast I look at the Restaurant Group (RTN) and what its profits warning says about the economy and consumer behaviour. I look at David Lenigas associated shite Octagonal (OCT) and its rum and coke statement, Nighthawk (HAWK), London Capital (LCG), Igas (IGAS) and make a general observation about oil prices and oil stocks.
Back in 2001 my Valentine's day was ruined by the first of a series of profits warnings from a company called InterX which eventually went bust. Its chairman Phil Crawford had told me so many great things when we met up with his PR bird. She swallowed anything Phil wanted. But the trouble was everything he said about InterX was just fantasy.Wind forward 14 years and Phil staged a coup to take the helm at dull but profitable Lombard Risk Management (LRM). It has not taken him long to weave his "magic" - today's (lack of) profits warning is dire.
In its most recent profits warning Fastjet (FJET) used language deliberately designed to hide how close it is to trading while insolvent and how inevitable a bailout placing is. Its PR firm Citigate Dewe Rogerson then engaged in disgusting fascist bulling and smearing to distract attention from this pressing issue. But the truth will out and, indeed, here it is.
I commented on shares in remote tracking and monitoring company Starcom (STAR) on the back of an April 2015 profit warning which saw them then trade approaching 15% lower at 7.125p. My caution of then has proved justified as I now update with the shares further lower, at just 1.5p, on the back of the company’s announcement of results for the 2015 calendar year…
I have exchanged a series of emails with Fastjet (FJET) to establish what the company is hiding in its most recent profits warning and whilst it offers excuses it will not come clean. I bet you a bottle of ouzo I know why. And it ain't good news if you are long and wrong.
I warn you that there is a lot of bad language in this podcast. I start with the balls talked by D&D on Fastjet (FJET). I have put the company on the spot as to what $20 million cash available means and I await a response. It matters big time. Then there is Andrew Bell talking balls on Horse Hill ahead of placings ahoy across the board. Then those who denied placings at Pantheon (PANR) and the posh fuckwits who spin for Scancell (SCLP). Both denied my stories. Both placed today. Folks: you know where to send your ouzo apologies. I discuss those placings and also that of Armadale (ACP) - a pisser as we own those shares. Then I discuss dire results from Glenwick (GWIK), shares in which deserve to halve and which were ramped by the same sort of mothers who ramped CEB/Andalas. The result will be the same. And also a horrid profits warnig from Tandem Group (TND) comes under the spotlight. I also mention my articles today on greedy Junior Doctors ad the BBC's woeful Trump coverage HERE
An announcement today from Hornby plc (HRN) is harmlessly enough sounding entitled “Update on Trading and Transformation Plan” and opens with “Hornby Plc, the international hobby products group, is updating shareholders on progress made so far in its turnaround strategy. The group has made significant progress in implementing changes to its business model to modernise”. Good, good. But what’s that? The shares have halved to around 40p. Better read on…
Kudos to Lucian Miers – as Plexus Holdings (POS), recently identified by him HERE as, due to the current climate, looking to have hit a brick wall has announced that it “has seen a significant slowdown in planned activity by its customers… the company's financial results for the year to 30 June 2016… will be very significantly below market expectations”. The shares are down as a result from the 125p of Lucian’s piece and a prior close of 122.75p to currently struggling above 70p…
Thank you Santa for this early present. Aussie poltroons Slater & Gordon (SGH) have issued another profits warning with its UK businesses, notably those bought from Quenron (QPP), blamed. Bankruptcy in 2016 now looks a slam dunk cert.
A kind reader points out that Rob Proctor of Audioboom (BOOM) has committed a clear breach of AIM Rules in a podcast recorded with Justin the Clown on ADVFN on Tuesday this week following the latest dire (lack of) profits warning.
Even on a 19th October profit warning seeing shares in software and services for education management group Tribal (TRB) down more than 35% at sub 80p, I concluded that the shares still looked to be one for the bargepole as no earnings visibility + debt (£23.1 million on the half year stage balance sheet) = toxic; see HERE. A further announcement today entitled “Trading Update, Rights Issue and Move to AIM” sees the shares currently down a further 25p at below 30p…
At 5.47 PM Monday Brady (BRY) issued a dire profits warning. I missed it the and apologise. But having fooled me by sneaking out this awful news as I was drinking away at my Christmas Party I decided it merited a detailed look. This company could just be bust by June 2016. At any rate it is a slam dunk sell. Enjoy..
About ten days ago, Stanley Gibbons (SGI) announced (piss poor) results for the six months ended 30th September 2015 and stated that “the board expects that the group will deliver materially higher revenue and profit in the second half of the financial year than in the first half, partially assisted by this year's auction calendar being more heavily weighted towards the second half”. So I've bought some shares for FIML at 99p.
A 10:51am announcement commencing “DX (DX.), the leading independent parcels, mail and logistics operator, announces an update on trading for the financial year to 30 June 2016” suggested just one thing, and yep there it is in the third paragraph; “the board now expects that profits will be significantly below current market forecasts”…
I looked at Ubisense Group (UBI) in August – noting "performance payments" to CEO Richard Green despite the company’s shocking track record and concluding that, even after the shares had declined from 275p reached last year to 103.5p, “even if the balance sheet was exceptionally strong (it’s not: net cash of £2.5 million), the track record suggests this a clear bargepole stock” (see Ubisense Group – interim results continue shocking track record, where are the shareholders’ “performance payments”?). The following updates with the shares currently down to 66p on the back of an, ahem, “trading update”…
In the Thursday earnings season results frenzy I knew that Rolls Royce’s (RR/) interim management statement was going to be of the ‘excitable’ nature when the first emboldened headline of the statement was ‘fundamentally strong portfolio of products’.
I concluded a previous piece on Grafenia plc (GRA) HERE by saying that, despite the shares having fallen to 15.5p, withfurther detail of interim results expected to be announced on 9th November, it looked one to avoid. This has proven wise, with the share price now 12.875p…
Pursuant to yesterday's warning by the US listed online restaurant order and delivery service, GrubHub (GRUB US, market cap $2.2 billion), I sold short a few shares in Just Eat (JE) - market cap £2.9 billion, the UK listed online restaurant order and delivery service.
Tom Winnifrith & I tipped shares in Amino Technologies (AMO) on the Nifty Fifty Income portfolio at an 82p offer price in October 2014, before recommending banking gains and selling at 141p in June – see HERE. I now update with them down approaching 30% today, at 110p, on the back of a “Trading Update” (AKA obviously a profit warning)…
Thanks for all your messages regarding the legal triumph, I comment en passant. Then the podcast turns to the nonsense that flip flop Ben Turney is spouting. I am beginning to think that Old Malcolm Stacey is not the only mad lefty on this website. Then onto Globo (GBO) and more news on "that report" and analysis of the potential for disaster at Cambian (CMBN) even AFTER today's dire warning. There is comment on what is happening at SIG (SHI) and Travis Perkins (TPK) and then onto events at Afriag (AFRI - when's the placing - and growing evidence that the Lenigas Cuba IPO is not exactly flying. Oh... and Northbridge (NBI) when's the profits warning?
Given the disgraceful profits warning, disposal that made no sense, joke of a balance sheet and all round laughable state of affairs, AIM China play Vmoto (VMT) should have lost its Nomad and been suspended ages ago. Instead it has just announced that it is to leave the AIM casino and since it maintains a listing in Australia it no needs no permission to do so. Another one bites the dust.
Six weeks ago when I wrote an article for ShareProphets’ e-book The Magnificent Seven I wrote about a business with…
‘…real heritage and was founded a mere 159 years ago in 1856. It is a large business and nestles happily in the FTSE-100 supported by brands that have a growing global appeal with net cash on its balance sheet, good free cash flow generation and a progressive dividend yield of currently just below 3%. The company used to just sell its wares from an expensive shop location but today interacts with its fans and followers digitally to such an extent that a couple of years ago its previous CEO was poached by a small technology company you may have heard of called Apple to assist with their digital brand positioning’
Well more fool me. Burberry (BRBY) may have risen pleasantly in the month or so immediately after the e-book publication but today’s shocker statement and share price moves puts me at a loss today versus my tip level.
Having frequently warned on the stock, most recently HERE, shares in Image Scan Holdings (IGE) are currently more than 15% lower today, at 1.375p, on the back of a ‘Pre Close Trading Update’…
11th June 2015: “First day of dealings on AIM following £27.0m placing… Market capitalisation at Placing Price of approximately £82.1m… Adgorithms (ADGO), a leading software company operating in the high growth online advertising market, is pleased to announce that admission and trading of its ordinary shares will commence at 8.00am today on AIM”. 9th October 2015: “Adgorithms expects its earnings for the full year to be materially below market expectations”. Welcome to another example of IPO life on AIM…
Grafenia plc (GRA) has commenced its most recent announcement with news that it has completed the sale of its Dutch subsidiary for €2.35 million. It has also completed a derisory double of making the announcement at ‘no one watching o’clock’ (5:32pm) and it including towards the end a ‘material’ profit warning…
Having warned at 27p HERE, 21.5p HERE and 14.75p HERE, I now update with shares in eServGlobal (ESG) at 7.5p following a number of recent announcements including that it “now considers there to be an increased risk that revenue and EBITDA will be below market expectations” and has agreed a loan from a shareholder to provide it with “additional working capital and enable its pro rata investment in HomeSend”…
AIM Casino China play Vmoto (VMT) has served up yet another red flag with an announcement that it has issued a shed load of shares to various parties. Vmoto claims to be drowning in cash but as I pointed out HERE its balance sheet is actually very weak. So today it announced:
Quindell (QPP) fraudster Rob Terry told deluded followers of his new Ponzi Knob Park Estates that shares in Daniel Stewart (DAN) are worth 4.2p possibly 10p. Oh dear. They closed today at 1.4p (off 6.7%% for some reason) and well after hours we got a dire profits (or rather lack of profits) warning.
On 14th July 2015 AIM Casino dog Iofina (IOF) made its last announcement – the usual bag of shite trading update. Its shares closed the day at c22p. The shares are now 14.5p having fallen steadily over the past two months but aggressively of late. So when and what is the bad news?
Operator currently of 46 5-a-side soccer centres in the UK and one in Los Angeles, Goals Soccer Centres plc (GOAL) has announced results for a “challenging” first half of 2015, though things have since got worse…
Image Scan Holdings (IGE) has made an announcement entitled “First Delivery of New Detector Panel and Software”, which though includes that “the development of these exciting new products has taken longer than we had anticipated and those delays have impacted the company's current year financial performance”…
Having updated on 30th July that “recent trading has been in line with market expectations. A more detailed update will be provided following the end of the current financial year which closes on 31 August 2015”, APC Technology Group (APC) has now updated that “underlying operating profit for 2015 will be below market expectations” and that “Leonard Seelig, the group Chairman, is leading an operational review of the business with the board”…
A month ago I wrote Goldplat (GDP) was “playing with fire” with its sneaky profits warning. I suggested a fundraising was on the way. My article drew a fair amount of criticism from some long-term holders, but events since suggest that the company is gearing up to dilute its shareholders.
Warren Buffett says that anyone who uses EBITDA is either trying to fool you or to fool themselves and that brings us to a comedy profits warning from POS AIM casino dog Iofina (IOF) issued first thing today. What clowns.
This morning’s announcement from Gulf Keystone (GKP) had the decided whiff of a profits’ warning about it. It is extremely frustrating when companies dress bad news up. I appreciate the importance shoring up sentiment has, but if a company has to warn shareholders that it is going to miss its financial targets it surely must be an inviolable principle of transparent markets that it explicitly says so. Today’s example from Gulf could prove to be a perfect case in point and doesn’t bode well for new CEO Jón Ferrier’s attitude towards investor relations.
Back in October I bought shares in Rolls Royce (RR), saw them ride up to over £10.50…and Monday – after another profits guidance warning – saw them back at the aforementioned c. £8 level. A true Grand Old Duke of York share: riding up to the top of the hill and then riding down again.
This morning Goldplat (GDP) issued a profits warning, though not that you can immediately tell this from reading the RNS. I’ve got to put my hands up here and admit I initially fell for the PR spin, when I was doing the regular cycle through the RNS roll call. Goldplat’s update strikes a very positive tone and there are no figures included in it. The company also avoids direct acknowledgement of what this announcement truly is. However, on careful inspection, it is clear that this is a warning of trouble to come.
At around 950p less than a year ago, I concluded that shares in Dialight plc (DIA) looked “overvalued. And then some.” (see HERE). I then updated in April, at 755p, on an AGM trading update I considered more misleading than informing (see HERE). I now update with the shares currently down more than 30% on the day at around 500p.
My last bearcast from the Greek Hovel starts with the UK Oil & Gas and Horse Hill mob suspensions. Then onto Rosslyn Data and a warning for Charles Clark, but it is not about his career in porn. Then I look at the profits warning from Scicys and what it means for others and then a discussion about running open ended funds and the problems Dave Newton has at Heliium, this covers Coms, Verdes, Optibiotix and Gable.
I have warned repeatedly that AIM casino listed Rightster (RSTR) is a wrongster yet somehow the company has persuaded institutional investors to stump up another £5 million at 18p. Good money after bad is what I call it. Those dumb enough to throw cash at this POS should perhaps reflect on a few matters.
Mitie (MTO) is now the biggest short position of The UK's second best known bear raider (after Lucian Miers, natch) Evil Knievil and the fat man says that he is expecting a big win on Monday.
Having announced in March that “increased activity levels in the typically busier winter months for insolvency leave the group well placed to deliver the board’s expectations for the year as a whole”, Begbies Traynor (BEG) has now disappointingly updated that it “now anticipates that the outturn for the full year will be below market expectations” - pointing to a further decline in the insolvency market in the UK…
After concluding that there looked good value on offer in shares in IndigoVision (IND) at 472.5p in September, the shares exceeded 490p the next month but fell significantly yesterday following a “trading update” (aka profit warning). The following reviews…
Thank you to the uber-foxy PR bird for Symphony, brokers Tim & John, foxy bex and the PR spinner to David Lenigas for last night. This bear now has a very sore head and is feeling fragile. Notwithstanding that I go into battle today starting with the Horse Hill omnishambles notably in regard to Solo Oil, moving onto two Chinese POS stocks warning today, to that specialist in China Frauds Daniel Stewart and its own profits warning. I then look at why Kirkland Lake is to leave the Casino and then also at another China POS stock now on ISDX having been booted off the Casino. A second bearcast on Quindell & Slater Gordon is to follow.
Philip Letts the CEO of Blur (BLUR) is clearly pretty crap at running a PLC. The latest profits warning and brush with the FRC is just another sign why he – and his grotesquely overpaid wife – should be given the tickety tack as soon as possible. But the man is not without his talents. He does irony well.
Shares in AIM casino dog Mopowered (MPOW) now trade at just 2.5p having already slumped by 50% since the bailout placing at 5p last September. You may remember that just ten weeks later the company issued a grisly profits waning (November 24) but since then there has been radio silence. That is ominous.
Today's profits warning from Blur is a shocker in every respect. It allows me to wander down memory lane to a date with Mellissa Hellberg in Mile End park, to a revised version of both Girls & Boys and Park life but also to examine this whole sorry saga from top to bottom. Warning: This podcast contains both singing and explicit language.
Yes I know that it has just had a profits warning and that the old adage is that warnings come in threes. But I do not expect that to be the case with Stanley Gibbons (SGI) and so it is my third share tip for Easter at 249p.
Stanley Gibbons (SGI) has disappointingly announced that “because a number of anticipated high value sales within the group's retail business were not completed in the run up to the (31st March) year end… it is expected that results will be materially below current market expectations”. The following updates with the shares now 8.5% lower in response at 241p-246p…
I was somewhat surprised to see the share price of Balfour Beatty (BBY) rise significantly off of the back of its final results yesterday. The UK based construction company had already issued several profit warnings during 2014, so it probably came as no real surprise to investors that it reported a £59 million loss for the year ending December 31 2014.
Infamous bear raider Evil Knievil has open a small “dipping a fat toe in the water” short position in AIM Casino listed Mar City (MAR) following the recent shocking profits warning and details of related party deals, as explained by Steve Moore HERE.
On February 6 2015 I asked if Rightster (RTSR) was a wrongster and flagged up material issues for it to address. On February 25th 2015 it issued a trading statement which was spun as being a triumph of growth but which was in fact a ghastly profits and sales warning. I unpick the true facts and the grim outlook for the shares in this podcast special.
Despite announcing £1.5 million of contract awards “attributed to the new leadership of our UK/Europe sales team, giving us confidence that similar changes made to the management of our US and Middle East/Africa regions will materially support our international sales expansion”, shares in AIM-listed Digital Barriers (DGB) currently trade 18% lower at 41p today. This is as the company has also announced that losses and revenue for its year to the end of next month will be worse than expectations due to “the timing of two expected significant contract awards”. Will the operational improvements the company emphasises it has recently made see a step-change in performance or will a below-detailed litany of financial destruction continue here?
Marketing communications group Creston (CRE) posted up what can only be described as a rather weak trading statement for the period from 1 October to December 31. Sales grew by 5% in H1 but that slowed to just 1% in Q3.
In the regular podcast for today I look at revenue recognition and visibility. This is prompted by the comedy/tragedy of a statement from Gowin New Energy - an AIM casino China joke POS - and the profits warning from Intercede. I also look at Weatherly International, Afren, TXO and San Leon
Pressfit (PFIT) listed on the AIM Casino on August 1 2014. Its first profits warning came within three months. It was booted off the AIM Cesspit yesterday. It is Chinese. I name those responsible for this scandal - firms and individuals - and suggest that all concerned need steep fines and an immediate termination of their City careers and explain why.
A vicious Bearcast at the weekend appears to have forced Northern Petroleum (NOP) into issuing a profits (or lack of) warning but it is still not coming clean with its long suffering shareholders – why does this company regard transparency as a four letter word? The shares are off again today to 10.5p but remain a sell with an initial 5p target.
Following a profit warning (reviewed HERE) from online fashion retailer boohoo (BOO) there has been some director buying of shares, the appointment of a joint corporate broker and a number of broker updates. The following reviews.
On Tues 23 December Cloudbuy issued a ‘Trading Update’ which, just by the timing of the announcement (Christmas Week) meant that it was unlikely to contain good news: as Tom Winnifrith has already pointed out, if it was good news it would have been rushed out in the previous week while everyone was still at their desks.
The penultimate pre-Christmas bearcast and the profits warnings are coming through at a rate knots from across all sectors: Cloudbuy, Thorntons, Mountfield - what does that tell you? A brief look at the resources sector's woes and then another clue on what exactly is my Christmas treat for a senior Quindell staffer...when will I ruin his Christmas? Problems, problems...
Previously updating on supplier of Software-as-a-Service for the management of governance, risk and compliance, Access Intelligence (ACC) I noted, with the shares at 2.75p, that it now needed to be shown that the company can generate increasing positive cash flows. Until then, the most prudent stance looks to be to take a watching brief. The following updates following a profit warning which currently sees the shares 10% lower today at 2.25p, capitalising the company at £5.3 million.
We are giving Bulletin Board Moron of the Week a rest for now but it will be back. And so thanks to readers Jane & Bobby Chariot we have a new contest for you all – “The 12 Days of Quissmas” – all you need to do is provide lyrics for a contemporary version. All entries must starts with “On the first day of Quissmas, Rob Terry gave to me, a stonking short on QPP”.
The good news is that AIM casino joke stock Mopowered (MPOW) has found someone stupid enough to be its FD. The bad news for Mr Richard Gordon is that he will be looking for another job in nine months when the company goes tits up – yes just two months after a rescue placing Mopowered has served up another ghastly profits warning. The shares were floated at 100p on December 18 2013 are now just 5.125p. Ouch.
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.
Shares in online provider of B2B comparison and search for residential conveyancing and related services in the UK, ULS Technology (ULS) currently trade more than 20% lower at 35.5p on the back of an update including that “underlying operating profit for the full year is expected to show good growth year-on-year, but nevertheless to be below management's initial expectations”. Having only listed on AIM (with a £12.1 million, 40p per share placing) on 28th July, what has happened here?
Shares in surveillance technology company Synectics plc (SNX) currently trade more than 30% lower, at 220p, on the back of an announcement that it “expects to incur an underlying loss for the full financial year” as “underlying profit for the second half of the financial year ending 30 November 2014 will be significantly below market expectations of £5 million, though still positive”. Is the severity of the downward share price lurch justified?
Shares in Foxtons (FOXT) have been sliding for a while – the market anticipating that sooner or later London’s poshboy Estate Agent would serve up a profits warning. Last week it duly obliged but even at 158p post warning the shares remain a pretty safe short for Christmas.
The latest profits warning looks near term and marginal in its impact. The shares of Rolls Royce (RR.) have lost all their former premium and at 803p look good value. A great opportunity for serious long term investors to pick up this long term technology growth stock at what looks like a low valuation of earnings.
Having fallen to 222p (having been more than 1100p earlier this year) after another profit warning, shares in digital inkjet printing technology company, Xaar plc (XAR) have recovered slightly to a current 232.5p. The following updates as forecast downgrades flow through.
Shares in digital inkjet printing technology company, Xaar plc (XAR) plunged 37% to 231p yesterday after ots latest profits warning. Should you bottom fish? Don't be silly.
Having consistently warned on the dangers of the valuation of blinkx plc (BLNX) since the shares were 93p in April 2013 – previously updating last month that at 43p precious little forward visibility meant being long continued to look more speculation than investment – the following updates on a further profit warning today which has sent the shares down to around 30p.
Quenron (QPP) has today sought to reassure investors that there is no reason for its shares to be collapsing. There is. I shall come to that in a second. But first, here is what the Quinnovation Group has to say:
The Bulletin Board Morons do not seem to understand that if an Industrial Deafness case is lost Quindell (QPP) earns nothing it just incurs cost. So the mushrooming of bogus claims will not generate any cash for Quenron although it is happily accruing income on the basis that it takes on and wins 6,000 cases a month. Given that the number of claims settles has not risen above 20,000 across the while UK for many years, it is inevitable that at some stage it will have to write back all or nearly all of its accrued income from ID, prompting a profits warning. It will also mean that Quindell runs out of cash. The only question is when?
Okay its time for the Bulletin Board Morons to apologise to me YET AGAIN – today’s victory is Monitise (MONI), shares in which have crashed to 31p as Visa has said that it wants out. My 10p target price stands.
Hello Share Spinners. ASOS stands for As Seen on the Screen. This was a great monicker for a company when internet shopping was just getting into swing. But it sounds a bit dated now, which is probably why the initials are used these days.
Having fallen from more than 7000p in February, shares in online 'fast fashion' retailer ASOS plc (ASC) currently trade a further more than 6% lower today, at 2270p, on the back of an update that “we expect profit before tax for the year to 31 August 2015 to be at a similar level to 2013/14”. So what now for the shares after the THIRD profits warning?
Manager of promotional and retail merchandising space in shopping centres and other high footfall venues, SpaceandPeople plc (SAL) has announced results for the first half of 2014 “challenging period for the group, with trading in a number of areas being slower than had been anticipated". It now expects full-year “profit before tax and non-recurring costs of between £800k and £1.0million and profit before tax but after non-recurring costs, of between £500k and £700k”. Is this discounted in a share price, which has fallen from more than 150p earlier this year to a current sub 50p?
They say profits warnings come in Threes so is Tesco (TSCO) not a sell now? Chris Bailey reckons that it is a bargain basement buy and has made it the largest holding in his pension as you can see HERE. Clearly there are two points of view.
I’ve just arranged contracts on that luxury yacht I like, a bit like Bill Gates’ one but bigger. It will be delivered in 2017 and launched from Wigan Pier. Okay that is not true but I mention it apropos of the latest hogwash announcement from prize bombast and Uber-Welsh David Williams of Avanti Communications (AVN).
Shares in provider of trading and risk management software to the global commodity, energy and recycling markets, Brady plc (BRY) have recovered to a current 77p having fallen to 62.5p in the aftermath of an early year profits warning noting that the company was “disappointed with the impact of timing and currency” on its 2013 calendar year results. The following updates post the release of a trading statement for the first half of 2014.
Having consistently warned on the dangers of the valuation of internet media company blinkx plc (BLNX) since April 2013, I previously updated last month following a profits warning which had seen the shares fall from 65.75p to 33.25p. I now return to this stock as it delivers a new product launch announcement today, which has caused the shares to nudge higher, although only to 31.25p (last seen).
Nine weeks ago after the profits warning from ASOS (ASC), to much abuse from Bulletin Board Morons who looked at price not value, I warned that the shares would fall further from £33 - HERE. They have. But the shares have further to slide and I am today cutting my target price from £20 - see HERE - to £16 and here’s why.
Early this month Monitise (MONI) served up a dismal profits warning. Delays in revenues were – in true Rob Terry fashion – viewed as being for good reasons but once again this company failed to hit targets. Now we see a weedy non-announcement and an Edison puffery research note all of which are Red Flags. Whatever Monitise says it is running out of cash and a placing is inevitable.
Shares in applied LED technology company Dialight plc (DIA) continue to trade well below the 1400p September 2013 highs, but at around 950p have also recovered meaningfully from the 700p levels to which they were reduced on an early 2014 profits warning. After the results announced last week, I take a look at the figures for the first half of 2014.
Special thanks go today to the directors Getech (GTC). For a while, I’ve had in mind a new feature looking at excessive or unjustified executive compensation. It is no wonder that AIM has the reputation it does for rewarding corporate failure so generously. Too many listed companies appear to be run solely for the benefit of incumbent directors. This is a key part of the reason that buying and holding AIM stock can be such a suicidal investment strategy. Unfortunately, little will ever likely be done about this issue so all we can do is report it as we come across it. The good news is that director behaviour in paying themselves can be one of the best indicators for identifying which stocks to avoid (often like the plague!). This new feature will hopefully go some way in helping you avoid one of the more treacherous pitfalls on AIM. Welcome to Directors at the Trough.
Andrew Monk heads up broker VSA Resources but in a former life was an airlines expert. He even set up one. It went tits up. But he knows how this industry operates and his views on THomas Cook (TCG) are clear. He noted this morning.
Two weeks ago Evil Knievil, Matt Earl, Lucian Miers and I served up our top ten stocks to short this summer and why – HERE. Avanti Communications (AVN) has already done the decent thing and issued a profits warning. We asked our readers at the weekend to vote on which of the ten would be next And the results are:
Naturally I am delighted to see bombastic uber-Welsh Avanti Communications (AVN) boss David Williams have to eat humble pie and serve up a profits warning on Friday. But what the statement says and what it does not say is just terribly confusing. I start on June 13th when Avanti stated:
Ten days ago, Lucian Miers, Matt Earl (The Dark Destroyer), Evil Knievil and I served up our top ten shorts in London. One of them, Avanti Communications (AVN), has already done the decent thing and
For what it is worth I become ever more convinced that my 20p target price for Quindell (QPP) is looking to be wrong and that I should slash it. Gotham City is also set to up the game. Rob Terry said he was suing. Gotham then accused him of the 5 letter F word that rhymes with broad. Rob Terry now says he will let the results do the talking. That is to say he has chickened out of his day in Court. Why? The word on the Street is that Gotham is now working on a second major and detailed report and it is set for publication in the early Autumn. That should be fun.
Quindell (QPP) did not issue an H2 profits warning for 2013. Instead it hit targets and managed to get away a £200 million equity raise. Without that cash it would have gone bust in January. But my attention is drawn to the recent Canaccord buy note (page 18) which begs the question of just how Mr 2+2 can =5, Rob Terry, managed to hit his numbers and avoid a profits warning.
I have predicted it before but predict again – the imminent trading statement from Thomas Cook (TCG) will be a profits warning. Of that I am certain. My question is whether its self-important and image obsessed CEO Harriet Green gets a one way ticket out of the building the same day.
A couple of months ago I got a bit of a flaming from certain Bulletin Board Morons for suggesting that shares in Coms (COMS) were overpriced at 6.1p. It was not like I was saying that I had shagged their wife’s but the reaction was as if I had made that claim. I said – at the time – I’d buy the shares at c4p. After a profits warning on Friday the shares ae 4.33p. Would I buy?