Results

Ouzo time as Interserve’s shareholders vote down D4E: it is the end of the road for them!

Published 34 days ago

I first warned about Interserve at about £1 back in October 2016, warned about it all the way down ever since and made it my sell tip for 2019. Today at an EGM, shareholders – as I had expected – voted down a debt-for-equity swap in which they would have retained 5% of the company. The shares were suspended immediately and at 2pm it was announced that the board will apply to the High Court for the company to be put into administration. In short, it is a 100% wipe-out for shareholders – and time for an Ouzo at Deputy Sheriff Towers.

Interserve – down to the wire as shareholders vote tomorrow: still a sell

Published 35 days ago

I make no apology for saying sell and keep away from fully-listed Interserve (IRV) as we run up to tomorrow’s make-or-break shareholder vote. With rebel investor Coltrane holding just under 28% and planning to vote against, the risk to other shareholders is an immediate pre-pack administration which hands the whole outfit to lenders and shareholders get nothing.

A ban on shorting AIM companies would lead to a lot of the bad ones quickly going bust! (TW - Gary Newman talking bollocks)

Published 39 days ago

There has been a lot of talk on social media recently about a petition to ban the short selling of AIM listed stocks - although it currently only has a little over 3,200 signatures, including a few CEOs, and is well short of the 10,000 needed to even get the government to respond – 100,000 are needed for a Parliamentary debate...

Interserve – I’m still steering well clear

Published 44 days ago

Last night Coltrane Asset Management, the biggest shareholder of fully-listed Interserve (IRV) came back with a revised rescue offer in reply to the revised debt-for-equity offer already on the table as the battle between Interserve’s lenders and shareholders intensified further. Coltrane says its deal is better but Interserve says the D4E on the table is the only deal or bust. Should I change my mind that Interserve is a sell?

Independent Oil & Gas unwittingly confirms Sunday LOG scoop but simply fails to understand the scandal

Published 53 days ago

AIM listed Independent Oil & Gas (IOG) has today issued a statement in relation to London Oil & Gas (LOG) run by Amber Rudd’s pal and donor Simon Hume Kendall and it unwittingly confirms Sunday’s scoop HERE that LOG is the recipient of £122 million of the £176 million leant by London & Capital Finance, the ponzi now in administration and under full FCA enquiry.

Wellesley Finance Plc – another mini bond lender heading for the rocks?

Published 60 days ago

Wellesley Finance is another minibond lender provider and also a peer to peer lender. It shares
some features in common with London and Capital Finance Plc (in administration) and Blackmore
Bonds Plc ( as we showed HERE technically insolvent). It offers attractive headline rates of return better than the banks albeit lower than London and Capital and Blackmore. The directors report for Wellesley Group for
2017 shows that it had borrowed at an average rate of 4.17% in the year. The latest interest rate
offer is up to 7% per annum 

BREAKING: From Death to a Standard Listing, Daniel Stewart the comeback...

Published 67 days ago

More than a week after we exposed the coming death of Daniel Stewart & Company the weekend press has finally woken up and is reporting how it went into administration on Thursday. But something bigger happened on Thursday. Daniel Stewart, c/o former boss Adam Wilson is coming back to the market via a standard listing. Let me explain with the documents below..

Frontera shares now worth 0p but changing hands at just 0.06p

Published 79 days ago

The whore blogger Malcolm Graham Wood urged shareholders in Frontera Resources (FRR) to hang on after the shares – 0.28p at suspension, down more than 99% on the IPO – were booted off AIM.  The morons insisted they would be buying more as soon as they could and that shorters would be unable to close. Here, c/o the great Northern bear Waseem Shakoor is proof of the reality.

PhotonStar LED = PhotonStop RIP

Published 149 days ago

Well you can’t say you were not warned! As both Steve Moore and Tom Winnifrith are drinking from the bottle of ouzo supplied by the Global Shorting Conspiracy it falls to me, on behalf of ShareProphets, to say told ya! (I’ll have my little cupful later). It was announced by AIM-listed PhotonStar LED (PSL) a few minutes ago that its wholly-owned subsidiary PhotonStar LED Limited was placed into liquidation. With the remaining business yet to sign a material contract and needing funding, this really is toast.

You'd have to be crazy to invest in Bellzone now - avoid like the plague!

Published 178 days ago

A few weeks ago I covered the fact that Bellzone Mining (BZM) looked to be in serious trouble, and following recent developments it looks in an even worse state now. This share has been a recent favourite of the pump and dump crews, as the uncertainty over its future has caused the share price to be incredibly volatile and no doubt some will have made money from these daily fluctuations. But what really amazes me is that so many PIs seem willing to buy into a share which already had a very high chance of failure, and even more so now.

Julie Meyer - her new flagship - its also insolvent surely - new Companies House Filing

Published 252 days ago

With former flagship Ariadne Capital Limited in administration and Julie "Lingerie on expenses" Meyer facing serious questions about that, Vince Cable's fave entrepreneur has to find a new flagship to stand behind her joke annual conference, this year to be held, to the dismay of local regulators, in Croatia. It would have been Ariadne Capital Group Limited of Malta but what with it facing regulatory probes, having no cash and with the criminal charges against Meyer in Malta that is perhaps not suitable. So Meyer has suggested her new flagship is Viva Capital LLP, formerly the company that booked her speaking fees. Problemo!

Another question for Julie Meyer - who got the Norwood Systems dosh and why sell in a closed period?

Published 274 days ago

Maybe Julie "Lingerie on expenses" Meyer MBE has other problems to consider? Take it from me that she does. There is more to follow, the wheels are a turning. But perhaps she or her uber expensive bully boy lawyer Julian Pike might answer a simple question for me. It relates to ASX listed Norwood.

Oi Julie Meyer, does the Ariadne administrator know you are using his property? He does now!

Published 297 days ago

When you are wanted by the rozzers in Malta on criminal charges,, being pursued by a range of banks and others over unpaid debts, being investigated by the FCA, MFSA, SFO, Action Fraud, IRS, HMRC and others, does theft of property from an administrator really matter? Well, clearly not for Julie “lingerie on expenses” Meyer MBE.

Julie Meyer files new accounts for calendar 2016 to avoid strike off but they are sheer fiction & show the lie at the heart of her ACE Fund

Published 307 days ago

Yesterday, in order to avoid a strike off at companies house Julie Meyer finally filed accounts for Ariadne Capital Entrepreneurs Investments Limited – that is to say accounts for calendar 2016! The accounts are fraudulent and there is a real question as to whether she should have been filing them at all – perhaps Andrew Duncan of administrators Leonard Curtis has a view. Let me explain.

Correction & Apology: Not for smearer & charlatan Julie Meyer but for her ex legal counsel Peter Bradley – the Steve Lazarus case

Published 308 days ago

On 24 May 2018 I ran an article on the case of former Ariadne employee Steve Lazarus who, like so many others working for Julie “Lingerie on Expenses” Meyer was not paid and had to seek legal redress. That article needs correcting, not for what it said about the appalling behaviour of Meyer but for a question posed of her, now ex, legal Counsel Peter Bradley. An amended article is below.

Julie Meyer – now about the alleged theft from Taggstar when you were the sole director & paying Rachel Lowe

Published 310 days ago

Taggstar is a company that, the joke ACE Fund run by Julie “lingere on expenses” Meyer MBE invested in and which – according to her lie packed fraudulent “private & confidential” begging email of 29 April 2018  (see HERE) was one of ACE’s hottest prospects, a "winner". Of course you and I know that it went into administration in July 2016. But it gets worse, because until her contract was “terminated” on 28 March 2016 Ms lingerie on expenses was the sole director of Taggstar.

Winnileaks strikes again - another Julie Meyer email shows her plundering the ACE fund

Published 311 days ago

Hoisted by her own petard. This is boastful Julie Meyer at her very best. No doubt Martha Lane Fox, Paddy Pantsdown and Vince Cable will be delighted to see evidence of how Julie "lingerie on expenses" Meyer charmed them. But what is the killer admission here is the scale of the plunder of the ACE Fund ( other people's money) by Meyer's Ariadne Capital Limited ( now in administration).

More Winnileaks shocking data: Julie Meyer’s ACE fund – the scale of her plundering makes this little more than a personal ponzi

Published 311 days ago

Although Julie Meyer is no longer regulated to manage other folks cash, rules are for little people not for Julie “lingerie on expenses” Meyer MBE and not only is she managing her ACE fund she is lying to investors to raise another £2 million. But beware, the scale of this ponzi is revealed in the data below.

So Julie Meyer - who owns the shares in Beat.TV? Your crap fund or the administrator?

Published 317 days ago

A kind soul has just sent me the original share certificate owned by Ariadne Capital Limited in a company called Beat.TV Limited. Why does this matter you say? Well it should matter as someone seems to be being defrauded and someone, might just be telling porkies again. Step forward Julie "lingerie on expenses" Meyer MBE.

New Winnileaks shocker - could Julie Meyer's Ariadne Capital black hole be even bigger than feared?

Published 318 days ago

As at 31 December 2016 Ariadne Capital Limited run by Julie "lingerie on expenses" Meyer claimed to have net assets of £3.859 million in its companies house filing. Less than a year later it was bust and those assets were shown to be fantasy, imaginary - the administrator reckons that, instead, there is a creditor deficiency of £2.715 million. But a new internal document obtained by Winnileaks suggest's that number is too low, Meyer's black hole could be far larger.

The warning signs were there for Weatherly International

Published 320 days ago

When news came on Friday that trading in the shares of Weatherly International (WTI) had been suspended and that the company was being placed into administration, unfortunately it didn’t really come as much surprise to me.

Winnileaks strikes again - another £130,000 personal guarantee liability emerges for Julie Meyer of Ariadne infamy

Published 323 days ago

Oh dear, oh dear. The IRS, HMRC, 2 CCJs, 3 banks, months of unpaid rent on her flat and now this... is Julie "lingerie on expenses" Meyer ever going to pay what she owes? Thanks to Winnileaks another liability emerges...

Winnileaks Julie Meyer bombshell No 2 - the ACE spreadsheet showing Julie Meyer is (at best ) a deluded fantasist

Published 323 days ago

The latest Winnileaks bombshell for Julie "lingerie on expenses" Meyer MBE is a spreadsheet of her ACE fund as at 29 February 2016. In part 1 I have shown how this demonstrates how she fleeced the fund ( other people's money) to pay the bills at her flagship Ariadne Capital Limited ( now in administration). Now I draw your attention to evidence that she is a deluded fantasist or worse. Turn to the final column below.

Winnileaks Julie Meyer bombshell - the ACE spreadsheet showing her robbing Peter to pay er...her Ariadne expenses?

Published 323 days ago

Another day and another bombshell document lands with Winnileaks concerning Julie "lingerie on expenses" Meyer MBE. This is such dynamite that I shall have to examine it in parts but let's start with our old friend Entrepreneur Country Global, ECG, a company established in 2013 and at that point wholly owned by Ariadne Capital Limited (now in administration). 

The most damning Winnileaks yet Julie Meyer invents time machine, uses Meyer Maths to create bogus profits and assets in Malta

Published 331 days ago

This is the most damning Winnileaks yet. It is a whatapp conversation on 14-16 February 2018 between devout Christian Julie "lingerie on expenses" Meyer and what she terms the "inner circle". Ms Meyer says she is "reaching out to ALL the people who are on our side". Hmmm you so sure Julie about ALL of them? This is massive and shows that Julie Meyer is quite simply a fantasist. It will blow your mind.

Exclusive: More Shocking Julie Meyer Expenses - A Retail special thanks to Winnileaks

Published 334 days ago

Another day, and another set of expenses claimed by Julie Meyer MBE as being "on company business" from Ariadne Capital Limited, now in administration. Staff who were paid late or not at all, investors who have lost everything and the HMRC who will surely see these as more benefits in kind on which Julie should have paid tax, will be horrified. Natch this document has gone to the HMRC. This is October 2014 and is a retail special. Although the Co-op entry, 11 October, is a total hoot.

More Thoughts on Securing Our Shares in the Dark Shadow of Beaufort.

Published 351 days ago

Hello Share Scorchers. In a well-written reply to my earlier article on how to secure our shares in future after the Beaufort affair, that wise Shareprophets contributor, Drunken Sailor felt I was over-egging the pudding.  

Conviviality - they think it's all over....it is now

Published 378 days ago

If you were in any doubt that AIM-listed (until now) Conviviality (CVR) was toast before today, the RNS released at 11.11am this morning should finally convince you that it really is all over. It has gone to meet its maker, it is a dead duck, it is an ex-company. And it is ouzo o'clock for the Sheriff.

Conviviality - Reports of Corporate Death premature but only just

Published 386 days ago

Some bears are on the pitch, they think it's all over, it is now - I refer to Conviviality and that is what I expect to be chanting within 24 hours. The game is almost up. At 5.42 PM prompted by reports that it was already in administration from, inter alia, Sky and the Daily Star, Conviviality updated us all on progress. Okay it is not in administration yet ...but it may well be there by tomorrow.

BREAKING: High Profile City broker Beaufort Securities put into administration by the FCA

Published 413 days ago

Its troubles started with a rogue salesman last year. Beaufort fessed up and compensated clients but the FCA insisted on a total overhaul of its compliance systems and clients found themselves unable to withdraw cash for a while. Broking is a tough business anyway with the staff demanding the fat via bonuses in good years and the shareholders picking up the tab in bad years. And so that run in with the FCA was the straw that broke this camel's back. The FCA said it feared Beaufort was insolvent and so...

New Video from Tony Blair fan Julie Meyer of Ariadne - she's either lying to the camera or to the Maltese Regulators

Published 423 days ago

I just love the way that Julie Meyer MBE has a book about the war criminal Tony Blair displayed prominently behind her as she records her latest video. Like Julie he was a man who boasted of doing God's will - as he launched a bloody illegal war - and like Julie he was a man we always believed. Trust me, I'm Julie, oops, I meant Tony. Sadly this latest video demonstrates Julie is lying to someone.

The winner of the Odd American Out contest is...

Published 425 days ago

On Friday I asked you which of the four American pictured below was the odd one out and why. The Yanks were: Tricky Dicky Nixon, Crooked Hillary Clinton, Lyin' Ted Cruz and Julie "Praise The Lord" Meyer MBE on whom there will be more next week following weekend conversations with folks in Malta. As you can see HERE there were many good answers but the winner is...

The Ariadne Capital St Valentines Day Fake News Special Part 4 - who put Ariadne into administration

Published 427 days ago

The spectacular own goal scored by Julie Meyer and Ariadne Capital Group Limited (in Malta) not to be confused with Ariadne Capital Limited (in administration) continues. Now we turn to the fake news which is Julie Meyer's assertion in part 10 below...

Hey Julie Meyer, if your Maltese operations are so profitable as you boast today why can't you pay so many of your bills?

Published 428 days ago

Julie Meyer MBE is being pursued by a string of former employees and trade contractors who are demanding that her Maltese holding company pays tens if not hundreds of thousands of Euros of unpaid bills stretching back many many months. Yet apparently all is well and Ariadne is hugely profitable. So says Meyer.. I say BULLSHIT! Fake News!

BOS Global – Looks like BOS Time is up!

Published 433 days ago

I don’t take much glee in jumping on graves but having been consistently critical of the nonsense and spoofery at BOS Global (BOS) for the last eighteen months, I thought I should comment on this week’s RNS which seems to be throwing in the towel with no Nomad willing to take on the basket-case.

Another unpaid supplier has to take Julie Meyer's Ariadne to Court in Malta - the empire is collapsing

Published 434 days ago

In the UK Julie Meyer's flagship vehicle Ariadne Capital Limited went into administration before Christmas owing millions and demonstrating that its 2016 accounts were pure fiction. I can today reveal that yet, another of Praise The lord's dwindling band of UK companies, Ariadne Capital Partners Holdings Ltd has now suffered a First Gazette notice for strike off but it is in Malta where the shit is really hitting the fan for La Meyer's five companies.

Have you been screwed by Julie Meyer MBE? Here's how to contact the team at the FCA that is investigating her

Published 436 days ago

Since she is doing God's will it is no surprise that Julie Meyer MBE is an individual authorised by the FCA to conduct investment business. But for how long? I have passed on all of my articles on Ms Meyer, covering the shocking administration of Ariadne Capital Ltd, ludicrous related party deals benefiting Ms Meyer by screwing her fund, dodgy accounting, unpaid bills, lying to potential investors about "cash in the bank" etc etc etc.

So who got twitter to ban an account flagging up adverse articles about Julie Meyer MBE?

Published 436 days ago

If devout Christian Julie Meyer MBE does not like FACT based articles about her and Ariadne Capital Limited ( now in administration) by City AM, The Evening Standard, The Times, ShareProphets ( an avalanche) and ex employees turned whistleblower such as John Galt posting on LinkedIn she could always send yet another fascist lawyers letter to them. But since all that has been written has been based on fact....

Julie Meyer: What we know about First Tuesday

Published 440 days ago

John Galt is, as you know, an Ayn Rand character. It is also the "nom de plume" of a former senior staffer at Ariadne Capital Limited (now in a shocking administration after £10.5 million disappeared in 10 months as we revealed HERE) who has said that he will expose Ms Meyer. His opening salvo has appeared on LinkedIn today.

Julie Meyer -how many other companies are teetering on the brink ( or over it)? Part 1

Published 465 days ago

According to companies House ex Dragon's Den  Julie "doing God's will" Meyer MBE is or has been a director of 13 companies. Flagship Ariadne Capital Limited is now in administration, while EntrepreneurCountry Global has some "interesting" accounts and you would not bet the ranch on it surviving long as explained HERE. 

Torotrak: 8.09am Financial Update - Uh-Oh, Admin beckons

Published 507 days ago

Main market listed Torotrak (TRK) has issued an emergency update RNS this morning, issued at 8.09am. In short, it is in trouble.

RedX Pharma – exit from administration, return to trading on AIM from midday but serious questions remain

Published 529 days ago

We have been following closely the story of RedX Pharma plc (REDX) as it ran out of other people’s money and went into administration. Now, after just over five months on the suspended list, the company has been successfully restructured and it is all systems go. This is very good news for the company’s shareholders, but questions remain – not least of which is what happened to the Administrators’ Final Report. The company announced it had published the whole thing on its website but I can’t  find it. And the relevant filings at Companies House are still missing. No doubt they will appear, but surely the return to trading on AIM should come AFTER the market has had a chance to digest it, not before. Black marks all round then.

PR firm Bell Pottinger goes bust - the curse of Quindell & "evil" Victoria Geoghegan

Published 585 days ago

It seems that PR firm Bell Pottinger will go into administration today and 270 folks will lose their jobs. Fear not most have already had other offers or decided to set up on their own. They saw the ship was sinking and there is no rat like a morally bankrupt PR rat in such a situation.

Entu – now do the morons believe us? “Proposals… attribute no value to the equity”, shares suspended

Published 602 days ago

Despite having stated early this month “all of the proposals received attribute little value to the equity in the company”the daft egged on by the mendacious led shares in Entu (ENTU) to recently bounce. This was also despite numerous warnings HERE. Now it’s “Suspension of Trading on AIM”

Entu- such a familiar pattern of stupidity and mendacity

Published 603 days ago

Shares in ENTU (ENTU) were off by 13% today so forcing a statement clarifying just how fucked the company is. Either the company gets a refinancing which will see shareholders almost entirely wiped out or the PLC will go into administration which means a 100% wipeout. The shares are now 36% off at 2.25p but that is still more than double where they were on August 2nd when Entu made almost the same admission.

RedX – administration update and a question over the interims

Published 625 days ago

RedX Pharma’s administrators have updated the market on the state of play with this (currently) insolvent company. The good news is that a sale of assets is proposed which will bring in $40 million and that subject to review by the administration team of business plans by the management the company would be set to exit administration and shares restored to trading.

Fit Bird Photo Article: QUIZ plc - let's get quizzical part 2/2: future prospects

Published 630 days ago

QUIZ plc (QUIZ) has today listed on AIM, reckoning this “marks an exciting new phase in QUIZ's growth and development as a leading international omni-channel fast fashion brand”. In part one I looked at the current position and in this part two review the growth prospects and valuation…

SHOCKING: London Stock Exchange: Fraud on AIM is nothing to do with us, nothing we can ( or will) do about it!

Published 645 days ago

The AIM casino has hosted the London stockmarket's biggest fraud for almost 40 years (Quindell) and a raft of smaller frauds in recent years. One might almost say that fraud is endemic. Yet, in a consultation paper published this week, the London Stock Exchange (LSE) has insisted that it is not within the remit of its own AIM Regulation department to tackle fraud or indeed do anything about it. This shows a complete contempt for investors - we bank the fees, you bank the losses.

DiamondCorp – more bad news: it looks like toast

Published 745 days ago

The saga of the financial problems facing AIM-listed (though currently suspended) DiamondCorp (DCP) has been followed HERE and this morning’s announcement looks to suggest that the end of the road is nigh.

DiamondCorp – another grim update as trip to corporate undertakers beckons

Published 793 days ago

AIM-listed DiamondCorp (DCP) has issued another grim update on its predicament and time is running out. As each day goes by, the end of the road for its beleaguered shareholders draws closer and this morning’s news suggests that for all the efforts of the board to rescue the company salvation is as far away as ever. But the fat lady is ready to enter stage left.

FRAUD African Potash: why hide the vote as share trading dries up completely?

Published 847 days ago

The fraud African Potash (AFPO) now sees its shares trade on the ISDX lobster pot as it is still yet to find a replacement Nomad to act for it on the AIM Casino following the resignation of Cantor Fitzgerald. Not even Cairn Financial - which pro tem acts for the serial liars at Cloudtag (CTAG) - will act for lyin' Chris Cleverley. So on January 7 the relegation to ISDX will become permanent. The pledges of CEO Cleverley that he was optimistic of finding a new Nomad will be shown to be...er... lies. Quelle surprise. But it gets worse and will get even more worse on Christmas Eve.

UKLA & Worthington - this is surreal

Published 867 days ago

This is beyond satire. On Friday night, as it does every night, the UKLA published via RNS its list of companies subject to potential bids and guess what? Worthington is still there. Worthington as in the company where an administrator has now been appointed and a first gazette published? Yes that is the one. But it gets better.

Cloudtag and insider share dumper Mike Hirschfield - the Gable & Corvus links

Published 868 days ago

Yesterday Cloudtag (CTAG) finally fessed up that Corvus Capital, the vehicle of dodgy Andrew Regan had dumped all its shares months ago at the peak of the ramp onto unsuspecting Bulletin Board Morons. But there was another belated disclosure of share dumping by Michael Hirschfield, as Nigel noted HERE. Mike who you say? Oooh er missus.

Worthington - Bad News from Greenland

Published 882 days ago

Is the long running farce Old Mother Worthington (WRN) finally coming to the end of the road? I am surprised that the company has not put out an RNS to keep its loyal investors informed but there is bad news in Greenland.

Why I stay short of Avocet

Published 896 days ago

I see that Avocet Mining (AVM) which I warned in May and August this year imploded the other day as it admitted that insolvency could be looming. If, like Xcite (XEL), about which I wrote the other day, it does enter administration, the shares are still a compelling sell. This, I believe is by far the most likely outcome and I stay short. The company's words in the recent statement are explicit:

Tern – disposal racks up mega profit with lightning speed

Published 897 days ago

 You have to hand it to AIM-listed jam-tomorrow investment company Tern plc (TERN), this morning’s disposal news is a cracking outcome. Having bought a few bits of the now defunct Flexiant business out of administration over the summer for £75,000 we are told today that one of the divisions has been sold for $500,000. That is on top of a previously reported (in excess of) £90,000 of unpaid bills which were chased up. The only puzzle is why shares in Tern have slipped on the news, albeit only by a small amount at time of writing. Why the disappointment?!

Gable - when was it toast and why were investors not told? Heads must roll Mr Stuttard

Published 917 days ago

Slung off AIM yesterday, Gable's (GAH) main subsidiary is now in administration and the PLC will surely follow, as I explained HERE. No doubt Marcus Stuttard and the oxymoronic clowns round at AIM Regulation will no doubt just dismiss this as "one of those things" that happen now and again on "the world's most successful growth market". The CEO has made £15 million in the AIM years but investors have lost everything. There must be an major and formal enquiry and here is why.

Gable Holdings Inc. – Dewsall keeps on spinning as main subsidiary goes tits up

Published 918 days ago

Gable and its loathsome scumbag gives capitalism a bad name CEO WIlliam Dewsall have yet to inform shareholders of the latest bad news but bad news there is aplenty. According to the publication Insurance Age, Gable Insurance AG was placed into administration by the Lichtenstein Regulator

Motive Television - now in administration ( at last) - Questions, questions?

Published 944 days ago

It was rather inevitable but I bring you below the Companies House Notification which confirms the good news, the worst company on AIM, Motive Television (MTV) is now officially a dead parrot. Naturally what actually happened is nothing like what Motive told its moronic shareholders. 

Rurelec – will it be taken down by creditor IPSA, booted off AIM for failing to clarify financial position?

Published 944 days ago

Yesterday morning the Peter Earl trainwreck IPSA (IPSA) was booted off the AIM Casino having served its maximum time suspended pending financial clarification. In fact it had been suspended since September last year, once again making a mockery of AIM Rule 41. It has repeatedly warned shareholders that it could face a one-way trip to the corporate knackers’ yard and now, with no listing, one wonders whether administration now beckons – and whether this could be the beginning of the final chapter for fellow cash-strapped (and ex- of Peter Earl) Rurelec (RUR), itself recently restored to trading on AIM, for at the last count Rurelec owed IPSA £1.8 million.

What's going on at Game? Bankruptcy looming again? Or a screaming buy?

Published 951 days ago

It doesn’t seem long ago that Game (GAME) went into administration. Amazingly, the company floated again within a very short period of time, and since then the share price has again been hurting investors. Could history be set to repeat itself?

Rame Energy: Anatomy of Failure (and lessons in ignoring management-speak)

Published 984 days ago

I love AIM stocks. And I think AIM is a great place to invest. I think it’s great to have a space where regulation is light(er) and costs are cheap(er). But with that freedom comes the responsibility to do your due diligence and to manage the risks. Many AIM stocks, if not the majority, are ultimately worth nothing: stocks like the now-suspended Rame Energy (RAME).

Tern – debtors paying up at Flexiant businesses but how much has had to be sunk in to get trading resumed?

Published 1002 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) has released an upbeat statement regarding its recent purchase of Flexiant assets out of administration. I’m sure this has nothing to do with shoring up a flagging share price as it threatens to drop below the 8p placing price announced two days ago.

Fraud Worthington: Now it is double brown bread, why is the UKLA so fecking useless?

Published 1013 days ago

On Friday July 1 NunaMinerals was put into administration. I therefore suggested a day or two later, that the RTO whereby Nuna took over Main Market fraud Worthington (WRN) was off and that on Monday 4 July the UKLA would have to take action. Amazingly the chocolate teapots have done nothing. Truly these folk make the oxymorons at AIM Regulation look like a collection of Nobel prize winners. But it gets worse.

EXCLUSIVE: Shocker from Tern – Flexiant goes bust, but when did Tern know it had lost its money?

Published 1025 days ago

For all of yesterday’s ramping over Device Authority (formerly Cryptosoft) a big question mark is being hoisted over AIM-listed investment company Tern plc (TERN) after the arrival of some confidential documents at Deputy Sheriff Towers. It appears that Tern has been somewhat tardy with ‘fessing up to losses on its first investment, Flexiant Corporation Ltd. Oh dear….this looks poor. Very poor indeed.

OFFICIAL: It is Ouzo O'Clock all day as Piers Linney's pride & joy Outsourcery goes into administration

Published 1038 days ago

Dragon's Den flop and serial business failure Piers Linney said that the proudest moment of his business career was listing Outsourcery (OUT) on AIM in 2013 at 110p. Oh dear, the piece of Turkish has today gone into administration. How will the PC tossers at the BBC spin this debacle for their pin up boy Piers? That is their problem, mine is how much ouzo to drink to celebrate this announcement:

SeaEnergy – shareholders shafted: it’s a zero, nada, rien, zippo. All the money’s gone

Published 1050 days ago

Well you can’t say you were not warned on countless occasions (see HERE), having called this a sell back in September of last year, and naming it as one of my top picks for a zero in the UKI magazine in November. This morning AIM-listed (but not for much longer) SeaEnergy announced that it had gone into administration and that its hapless Nomad WH Ireland had resigned with immediate effect. I’ll bet WHI is really pleased it took on this dog-with-fleas back in November. I hope that readers duly collected their bags of crisps before the shares were suspended pending clarification.

Reader Poll: Drowning in Debt Oil mid caps - who will admit that it is toast next?

Published 1064 days ago

And so today, Circle Oil (COP) has admitted what anyone with half a brain cell could have figured, that it is officially toast. The question is which of the drowning in debt oil mid caps or large E&Ps will be next to fess up? There is an RNS from Gulf Keystone (GKP) today saying its bondhoders have given it another 11 days but could it be overtaken by XCite (XEL), whose shares are sliding as the clock ticks? Other oilcos in breach of loans include Trinity Exploration (TRIN) and LGO Energy (LGO) while the yield on IGAS debt suggests it is in the merde. So who will be next to admit it's toast, to use either the word "administration" or the phrase "little or no value for shareholders". Voting deadline is midnight tonight.

Outsourcery - where are the (dire) results? All the Money's gone has it not Piers Linney?

Published 1113 days ago

Piers Linney is no April Fool. The Dragon's Den self promoter and serial business failure (see HERE) is just a fool. And that brings us to his biggest disaster to date, Outsourcery (OUT), shares in which are slipping again and now trade at just 9p (May 2013 AIM IPO at 110p) valuing the business at only £4.4 million. Worse is to come.

Motive TV Caption Contest - joint winners announced & New Andrew Monk Probability Question

Published 1148 days ago

There were a bevy of cracking entries in the Motive TV (MTV) in Administration Caption Contest from yesterday and you can see them all HERE. But unlike investing on AIM where everyone's a loser in our contest there is an actual winner. In fact two joint winners. We asked for your captions for the photo below. And the winners are:

Motive TV in Administration - Caption Contest

Published 1150 days ago

No golden ticket for the Bulletin Board Morons, Motive TV (MTV) announced yesterday that it was going into administration - we gave our take HERE. In honor of this event please supply your captions for the picture below by midnight tonight in the comments section below.

Blenheim in denial as African Eagle goes bust - interim NAV was in fact almost zero

Published 1170 days ago

Oh dear. African Eagle has been put into administration in a move akin to pulling the plug on a life support machine for a car crash victim who has been in a coma for three years. Shite AIM investment company Blemheim Natural Resources (BNR) owned 11.4% of Eagle and is in denial.

Rurelec - CEO walks: is the fat lady warming up in the wings?

Published 1221 days ago

It was announced yesterday at 11.32am that the CEO of AIM-listed Rurelec (RUR), Mr Mark Keegan, had walked with immediate effect. Having only been on the board since late July this year, and with the first RNS released which bore his name as CEO having been on 13 October this year this looks to be an ominous development - not to mention the well-chronicled tale of financial and other woes besetting the company.

LGO Energy: David Lenigas has NOT sold shares (or has he)..Evening Standard warns of administration risk

Published 1221 days ago

Well there is a shock. The LGO Energy (LGO) 2014 annual report was simply wrong in stating that David Lenigas had sold enough shares to go below 3% - naughty, naughty Neil Ritson, but I guess that is the least of your sins. For today Jabba The Hutt announced that he owned 154 million shares.

Rurelec – open offer a doomed last throw of the dice?

Published 1253 days ago

AIM-listed and cash-strapped Rurelec (RUR) has proposed an Open Offer as the new management team fights to keep the lights on. But I fear that this potential fund-raising is already doomed to failure. The company admits that it faces a cash-crisis and the writing is on the wall. Here is why.

Globo plc – confirmed date of removal from AIM follows earlier announcement still claiming “Globo is a trusted mobility partner”, Er…

Published 1262 days ago

Tom Winnifrith noted earlier HERE the entry into administration of Globo plc (GBO) - the announcement from the administrators including that they “will be applying in due course for the cancellation of the admission of the company's shares to trading on AIM”. FTSE has now updated on this…

Rurelec – woe upon woe as 54% shareholder goes into administration

Published 1277 days ago

I have been bearish on AIM-listed Rurelec (RUR) all the way down from 3.75p in May. With the shares now down 79% since then, at 0.775p, I sense a notch on the bed-post at Deputy Sheriff of AIM Towers. Rurelec’s 54% controlling shareholder, Sterling Trust, has gone into administration and so we now have (to add to the balance sheet issues) a monster of a stock overhang. Also in the fray is the already suspended AIM-listed IPSA (IPSA), which sees a 30% stock overhang created.

Afren Goes Bust! The Fat Lady Sings “It's tits up time lads”

Published 1357 days ago

Oh well you cannot say that you were not warned often enough on these pages. To the Bulletin Board Morons who abused us and said we did not know what we were talking about as we warned of impending doom, we say “enjoy poverty peasants” because it really is all over for Afren (AFR). And that is official, although no doubt on the LSE Asylum someone will spin news of administration as a buying signal for the shares.

Quindell…the penny is starting to drop: collapseroonie ahoy, just how bad is the cash position?

Published 1538 days ago

It has been a quiet week on the Quindell (QPP) front although none of the ludicrous bull calls have come good: S&G exclusivity ended Friday and we were told that a bid would happen last week and that Quenron had lined up a big bank to advise it. Well …it did not happen and it will not happen.

Quindell - The Graphic says it all - cash is very tight

Published 1546 days ago

Quindell (QPP) has always been a slow payer of its bills. But we already know that it survives only thanks to bank overdraft. In today's BearCast HERE, I reveal how it has raised emergency cash to keep going with hidden asset sales. The other way of postponing administration is just to delay paying suppliers. The graphic below says it all. It is paying later and later. 

Tom Winnifrith Bearcast 3rd January

Published 1567 days ago

Why do share lock-ins matter? Let me explain and I do so with reference to Quindell (QPP) as this will be something that the Serious Fraud Office needs to examine either before or after Quenron goes into administration. I also have a few words for the motherfuckers at Schillings.

Tom Winnifrith’s Share Tips for 2015, No 5 – Sell Quindell, target 0p

Published 1570 days ago

Some of you may regard this as boring. There is after all, ALMOST, nothing written below that I have not written before. But I promised my top 5 shorts as part of my 10 tips of the year and Quindell (QPP) is my top short. Quite simply these shares are worthless. And so selling at 42p or whatever you can get is a sure fire 100% win. This is a “niller” at so many levels. Where do we start?

Quindell the Death March accelerates – when will the shares be suspended?

Published 1590 days ago

What is happening at Quindell (QPP)? Blind panic is what is happening. That death is the outcome is now beyond all doubt, the only question is when and how. To win a bottle of freshly pressed olive oil from my Greek place enter our “when will Quindell shares be suspended sweepstake” here. This is fascinating as so many parties are involved.

Tom Winnifrith Quindell Bearcast Special - The implications of today's revelations

Published 1595 days ago

Today's revelations on Quindell (QPP) are shocking. How do the Morons feel now knowing about the wage deferral, that they were mislead about the cash position on October 13 (market abuse) so they bought shares and Rob Terry, Laurence Moorse and Steve Scott were able to sell. How do they feel about that? You guys were suckered. Now you need to stop getting angry with me and start directing your anger towards a board that has stolen your cash. 

Musical EXCLUSIVE Sefton Resources – Board Meeting today to discuss going into Administration

Published 1603 days ago

And now my friends, the end is near, it’s time to face the final curtain. Meet Sefton Resources (SER) the last company to sue me for libel. Of course Quindell (QPP) never actually served papers it just announced that it was going to and wasted shareholders cash on expensive lawyers (see HERE) to try to stop me exposing its lies and fraud. But for Sefton I have a song from Frank because the Board is Meeting today.

Does everyone lose their jobs if a holding company goes tits up? Ref the Quindell 4,000

Published 1663 days ago

I see that various Bulletin Board Morons accuse me of threatening 4,000 jobs at Quindell (QPP). Just for them, I offer a basic lesson in markets and economics.

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