It looks as if Richard “nobody likes me and I don’t care” Jennings had a narrow escape not merging his Align Research company with Vox Markets as its accounts are now out and they are shockingly bad. But when 50% of the board is comprised of Justin “the Clown” Waite, is it any great surprise?
After yesterday’s debacle, Katharine Lewis is now the sole remaining director of Iconic (ICON) which means it is breach of the 2006 Companies Act which requires all public companies to have at least two directors. However, that is the least of her worries. The main concern, and one which should be getting the appropriate professional and legal advice about, is Iconic currently trading whilst insolvent and should she ask for the shares to be suspended whilst it clarifies its financial position? Trading whilst insolvent was until recently, for a director, a Criminal Offence. It should be again.
If you were in any doubt as to the financial woes of Ariadne Capital Limited in 2017 this string of emails dumped to Winnileaks is most instructive. Ariadne owed money to lawyers Fletcher Day ( and still did when it finally went bust). Rather than pay, Julie "lingerie on expenses" Meyer, warned her PA not to open the door lest it be someone trying to serve the devout Christian or bailiffs, and tried to blackmail the lawyers to go away, with spurious threats.
The stink surrounding former Dragon's Den Star Julie Meyer MBE, a member of the great and the good, grows by the minute. More and more folks are coming forward to spill the beans and Julie should brace herself for a stack more exposes to follow the exposes already published. Let's start with a letter to Ms Charlotte John, who works for Leonard Curtis, the administrator of Meyer's flagship company Ariadne Capital Ltd. I have sent her a letter. Smiley face.
Milestone’s (MSG) interim results today were truly appalling as it racked up a loss of £1.1 million. The statement about the "progress" of its range of sub scale crap businesses is - as ever - upbeat. Read the words and you think this company must have done brilliantly. And then you look at the P&L buried beneath the acres of spin and you see that sales in the six months to March 31 2017 were just £22, 237. Down by 56% on the prior year and just pitiful. The ice cream van parked in my street just now generates more sales than this POS which has no right to be on the AIM Casino at all. It gets worse...
I have never seen a loan like this. It is sheer desperation from a company that faces imminent insolvency. Make no mistake, Advanced Oncotherapy (AVO) is on the way out and corporate death will occur very soon indeed.
As we have pointed out numerous times, the crowd funded debt death spiral has failed. Golden Saint Resources (GSR) managed to raise a net £159,000 two weeks ago in a bucket shop placing but is still completely out of cash. It is bust. It is trading while insolvent. Yet still the pretence goes on with an "operational update." What bollocks.
At no-one is watching O 'clock on Friday, the POS US Oil & Gas (USOP) snuck out dismal results and a placing statement which contained an obvious lie and which only postpones death.
GXG Markets has concluded its investigation into US Oil & Gas and given it the all clear. Jeepers are all regulators imbeciles? It was demonstrated that on repeated occassions USOP made statements that were simlly not true and were directly contradicted by authorities in the USA. That has been well documented here. As such we can only conclude that misleading investors is all well and dandy on GXG just as it is on the AIM casino. Really I cannot see what the point is of playing it straight anymore?
Having promised an update on refinancing the POS AIM listed company Outsourcery in July, Dragon’s Den Prima Donna Piers Linney served up a pretty wet statement at the last minute this morning. The RNS is both wet and disingenuous. And here’s why.The statement reads: