Results

ShareProphets China AIM 'Filthy Forty' performance update – May & another suspended

Published 13 hours ago

Following it previously noted, when will the next domino fall?, here's an update on the current ShareProphets China AIM 'Filthy Forty' situation...

Redhall – suspended pending clarification, but when did it get into trouble?

Published 2 days ago

Back in 2014 Tom Winnifrith described AIM-listed (for now) Redhall (RHL) as a zombie company….dead money but that it supported an army of crony capitalists, directors and various City parasites. This morning the shares were suspended pending financial clarification yet although there had been a profit warning on 1 May there had been no indication that the company was at death’s door.

Norwegian E24 goes after Chris Rynning (formerly of F40 Origo) - part 6: now Danske Bank's due diligence comes under the microscope

Published 2 days ago

E24 in Norway has been having a right old go at Chris Rynning, the former boss of AIM-listed Origo Partners (OPP), having found that large amounts of cash disappeared into tax havens and investors in Origo were left wth almost nothing. In this latest episode, E24 looks at Danske Bank, which went in with NOK 0.9 million to Rynning’s venture fund, Nhack, to help entrepreneurs in China. But this year, like Innovation Norway, Danske Bank terminated the relationship.

Ariana – another cracking set of numbers from Kiziltepe

Published 5 days ago

AIM-listed Turkish gold producer Ariana has offered up the latest full production numbers for its Kiziltepe joint venture. As I had expected, costs were up a little due to the Turkish Lira strengthening, but the gold price had a good quarter (sadly not sustained…..) so income was up.

Rose Petroleum – your RNS share issue statements are a farce & contain blatant lies

Published 5 days ago

On 11 April Rose Petroleum (ROSE) announced that Mr Robert Bensh was buying £275,000 of shares in the company at 1.1p to take a 14% stake and would become chairman with immediate effect. Er….

YU Must Think We’re Stupid

Published 6 days ago

Yu Group (YU.) has been the AIM darling this past week and I see the usual suspects are out in force telling the
masses how the company should trade at many multiples blah blah blah. I wonder how many millions all
these guys have made seeing as they put Warren Buffett to shame in finding truly undervalued shares.

Tom Winnifrith Bearcast: Advice for Andrew Monk on how to be a spiv

Published 8 days ago

I start with a comment on the amazing generosity of one person donating more than £11,000 to Rogue Bloggers for Woodlarks yesterday. It was not Neil Woodford though I did ask. Anyhow: to the 75% of you yet to donate think of me this weekend on a) my last training walk ahead of 33 miles next weekend and b) entertaining a visiting mother in law. As you think of my weekend, please donate HERE. In the podcast I discuss Woodford's latest bad news, Maistro (MAIS), Blur as was, UK Oil & Gas (UKOG) and Staffline (STAF). I also offer advice to Andrew Monk on which 1 AIM stock he should buy today for his mother's IHT Portfolio.

From 82p to 0.4p in seven years …its all a bit of a Blur as Maistro prepares for AIM Casino exit

Published 8 days ago

Retained losses are £27 million and counting, the shares have collapsed from 82p at IPO to just 0.4p, Blur (BLUR), now rebranded as Maistro (MAIS), has been a disaster for investors but at least its founder Phil Letts and his ghastly wife who was also on a fat salary have been able to buy and upgrade a Country mansion, as we noted HERE.  Today as it issued another lack of profits warning and warned of another cash crisis, Maistro says it is going to delist from the AIM Cesspit.

Norwegian E24 goes after former Origo boss, Chris Rynning – parts 4 & 5: conflicts of interest?

Published 9 days ago

We have a double edition today of further articles released by Norwegian E24 as it continues to dissect the activities of Chris Rynning, the former boss of ShareProphets AIM-China Flithy Forty play Origo Partners (OPP). First up we have part 4, which looks further into his role as an adviser to Investinor (Norwegian state-owned) which seems to unearth a massive conflict of interests. Then we move on to Rynning’s lawyer who offered a reply...

Fecking YUseless Chocolate Teapots discontinue investigation

Published 9 days ago

Never mind that a £10 million (or thereabouts) black hole was found in the accounts of AIM-listed Yu Group (YU.) and it raised £11.6 million in a placing last year on the back of dodgy accounts, the chocolate teapots at the FCA have discontinued their investigation, according to the company this morning...

Yu Group – FY18 results and a lack of cash (despite the headlines)?

Published 10 days ago

AIM-listed Yu Group (YU.) has posted its much awaited results for the year to December 2018 – much awaited because during the year it ‘fessed up that its previous numbers had been less than believable. The opening lines make good reading – and the market has reacted well, marking the stock up by a whopping 67%, last seen, to 155p but I wonder about that.

Norwegian E24 goes after Chris Rynning (formerly of F40 Origo) - part 3: due diligence?

Published 10 days ago

Chris Rynning, the former boss of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) can rest a little easier today as we continue to follow the fine work of Norewegian E24 as the scandal of Rynning and Origo continues. Today we learn that having left Origo, Rynning was helping Norwegian entrepreneurs get a foothold in China as Innovation Norway referred them via its own website to Nhack, another Rynning company, based in Shanhai. Of course, Innovation Norway had checked him out.....hadn't they?

Management Resource Solutions – another shocking admission from the recent investor lie-fest

Published 10 days ago

On 2 May Management Resource Solutions (MRS) held an investor lie-fest at the offices of its uber expensive PR posh-tards FTI Consulting. It was recorded so hapless Nomad Arden has full access to what was said. I have already detailed, here, a stunning admission by boss John Zorbas which would have seen any normal Nomad resign on the spot. But there was more….

Ariana – more positive news as we wait for more numbers

Published 11 days ago

AIM-listed Turkish gold-play Ariana Resources (AAU) has updated the market on its Salinbas exploration target and forestry permits this morning. Coinciding with a bit of a China-USA spat spike in the price of the yellow stuff, Ariana’s shares have reacted positively and I suspect there is still more short term upside as we await the full production numbers from Q1 which are due any day.

Norwegian E24 goes after Chris Rynning (formerly of F40 Origo) - part 2: the company credit card

Published 11 days ago

This gets worse and worse for Chris Rynning, the former boss of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP). Having discussed how a billion Kroner disappeared to tax-havens under this self-styled China expert, today E24 looks at the company credit card. If you thought Nilesh Jagatia of Teathers (TEA), Insprit (INSP) and Octagonal (OCT) was, ahem, generous (to himself), this appears to take the biscuit.

Norwegian Investigative journalism alive and kicking as E24 goes after F40 Origo’s former boss Chris Rynning

Published 13 days ago

I have covered the scandal of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) in some detail – see HERE. To cut a (very) long story short, it raised a pile of cash and seems to have lost almost the whole lot – apart from the generous remuneration and related party dealings – and the management paid itself a stack of bonuses just as the icing on the cake. New boss John Chapman has been forthright with what he found out on getting his feet under the table and now Norwegian outfit E24 has been looking into the original brains behind Origo, Mr Chris Rynning.

Winnileaks Expose: Is John Zorbas of Management Resource Solutions lying again?

Published 13 days ago

At the investor presentation on 2 May at the offices of uber expensive PR posh-wits FTI Consulting, which was attended by over 20 sceptical and angry investors, Management Resource Solutions (MRS) boss John Zorbas again showed he was, quite possibly, a liar.

Reckless Neil Woodford gambles with other people’s money on Induction Healthcare IPO

Published 15 days ago

Induction Healthcare is coming to the AIM market in only the third IPO of the year on AIM. That kind of tells you now ain’t a great time, but leaving that aside, Neil Woodford has signed up for IPO shares (with no previous investment) in a company which seems to be a very long way from profitability. So is it his Equity Income Fund buying a company with no income? Maybe it is his Income Focus fund – although no matter how hard I focus, I still can’t see any dividends. Or perhaps it is Woodford Patient Capital (which has no cash)? I’ve no idea.

Tom Winnifrith Bearcast - these companies are just taking the piss as management troughs it

Published 16 days ago

Ahead of lunch with a scouser I encounter someone just out of prison. There you go, life here in the Grim North. I urge you all to follow the lead of Saintly Tech Queen Vin Murria HERE.Greedy AIM bosses screwing shareholders infuriate me and in that vein I cover: Mirriad (MIRI), EVR Holdings (EVRH) and Argo Blockchain (ARB). I also look at FinnCap (FCAP) where the dam is breaking, Share PLC (SHRE), Frontier Smart Technologies (FST) and Audioboom (BOOM).  

Neil Woodford Dog Mereo collapses further and spoofs the market (at least, I hope it was a spoof)

Published 19 days ago

Woodford dog Mereo Biopharma, with its “value-enhancing” (according to 31% holder Neil Woodford) merger with Nasdaq’s Oncomed all delivered, has continued to slide: the shares, having been 325p at IPO on AIM in 2016 and having been over 160p up until completion of the merger have now collapsed to just 81p.

Red Flags at Night – Novacyt death spiral: SELL

Published 20 days ago

AIM-listed diagnostics play Novacyt (NCYT) announced a death spiral deal on 23 April 2019 and at 6.23pm on Friday evening it slipped out details of the first two rounds of conversions – at no-one-is-watching o’clock….except ShareProphets was watching. It is also listed on the Euronext Growth market (ALNOV), and joined AIM at the back end of 2017 – since when it has been heading heavily southwards, as you can see from the chart below.

Redx Pharma – much improved cashburn, but is it death spiral ahoy?

Published 22 days ago

Since the scandal of its administration, AIM-listed biotech company RedX (REDX) has had a much better run of things under the new leadership of Exec Chairman Iain Ross. But today’s statement, issued intra-day at 11.34am, suggests that a death spiral may be on the way. If it is, then this is an automatic sell for me...

Stephen Hope & Outrider hit back at Frontera in US case - court filings below

Published 22 days ago

It really does look like the last days of Frontera Resources (FRR) the formerly AIM listed fraud and purveyor of lies which was so beloved by the Bulletin Board morons. The latest court papers filed by Stephen Hope and Outrider as it battles to seize the assets of the company in lieu of debts on which Frontera has defaulted make for grim reading for promoters such as the whore blogger Malcolm Graham Wood and for the morons on the shareholder list. Read and weep Malcy, this is going to end badly for your boys. 

Burford Capital – a screaming short?

Published 23 days ago

I have been receiving a few comments and concerns from a number of sources regarding AIM-listed Burford Capital (BUR) – a player in the highly lucrative litigation funding space, and a major part of Neil Woodford’s investment empire. If those concerns prove to be correct then Burford Capital is massively overvalued, based on hocus-pocus accounting and is an accident waiting to happen...

Tom Winnifrith Bearcast – Leon Hogan takes a Marechale bath: Rejoice! Rejoice!

Published 24 days ago

In today’s bearcast I start with missing cat news (there is some hope) and end with news of the ultimate cruel an unusual torture for Andrew Monk. Think of the poor man and donate to rogue bloggers for Woodlarks HERE. I cover Marechale Capital (MAC) and AIM bad boy Leon Hogan, Maestrano (MNO), Redhall (RHL), Management Resource Solutions (MRS), Bould Opportunities (BOU) and Octagonal (OCT). Go on think again of poor Monkey and get the (now) eleven rogue bloggers over the £15,000 mark HERE

Neil Woodford Dog Mereo – FY18 results…..oh dear

Published 25 days ago

Oh dear oh dear oh dear. I commented at the weekend HERE that AIM- and now Nasdaq-listed Mereo Biopharma (AIM: MPH, Nasdaq: MREO) has FY18 results due this Monday, following Mereo’s merger with Oncomed on Nasdaq. Duly reported, how’s that extended cash runway doing?

Trafalgar Property – FY trading statement shows this is a crock of….”exciting times”! SELL.

Published 26 days ago

Last time I commented on AIM-listed Trafalgar Property (TRAF) I responded to the claim it was well placed to deliver with the observation that since listing on AIM it had only delivered one set of profitable account out of five when the housing market was on fire, and that current borrowing of £3.1 million plus longer term loans of £4.9 million meant that the lenders would benefit long before shareholders. This morning we had a trading statement: how does the well placed to deliver company find itself?

Tom Winnifrith Bearcast: Another scoop on dissembling POS Bidstack & a strange deal at ValiRx

Published 29 days ago

I am procrastinating ahead of a 24 mile training walk in the Grim North as the wind blows hard and the rain tips it down. As you think of my suffering please please donate now HERE. In consider the 3Xs in light of today's Pathfinder (PFP) scoop. I apologise to Peter Greensmith, he is not the knobhead in the Bidstack (BIDS) affair and indeed not a knobhead at all. I name the real knobheads and have another scoop on the company showing how firms like Optiva make AIM a disorderly market with their slimeball behaviour. Finally I look at yesterday's financing by ValiRx (VAL) which looks like a bad deal in so many ways.

Neil Woodford dog Mereo Biopharma completes “value-enhancing” merger...er....

Published 29 days ago

Mereo Biopharma (MPH) is a typical Woodford dog: until a few days ago Neil had just shy of 42% of the equity in this cash-guzzling enterprise, which joined the AIM Casino back in June 2016 with a valuation of £142 million and a lofty share price of 325p, having raised £14.8 million, plus a convertible loan note worth another three million.

Inspirit – finally gets around to confirming our scoop of last week with a load of tosh

Published 29 days ago

AIM-listed POS Inspirit Energy (INSP) has finally woken from its slumbers and confirmed our scoop of over a week ago, that it has vacated its factory. Apparently it is in the process of moving its facility  to Poland. Well it might be in process but it seems to be taking a long time for last week we know that its Sheffield factory had already been vacated and leased to a new tenant. And then there is the strategic review…..

EXPOSE: Bidstack: Placing underway and struggling after nine days

Published 30 days ago

I have suggested in a number of recent bearcasts that Bidstack (BIDS) was the most over-ramped and overvalued stock on the AIM Casino and also that it would have to do a placing within six months to keep the show on the road. A City source has now provided me with more specific information, an offering is already underway but it is struggling.

Tom Winnifrith Bearcast: The curse of loathsome ex Tory MP Tony Baldry is striking again

Published 30 days ago

In bearcast i raise unanswered questions about Westminster Group (WSG) run by smug lardarse Tony Baldry and ask how soon the next bailout placing will be and at what price. I look again at the most overvalued & over-ramped stock on AIM, Bidstack (BIDS), at BlueJay Mining (JAY) and at AO World (AO) and Purplebricks (PURP) two companies that boost profits by ripping off customers.

Neil Woodford Dog NetScientific – CEO walks “to assist….in reducing central costs”

Published 30 days ago

AIM-listed Woodford dog Netscientific (NSCI) has announced the departure of its CEO, Francois Martelet as from 30 April 2019 – just a few day’s time – in order to assist the Company in reducing its central costs and pursue other career opportunities. Well I daresay not having to pay his salary, bonuses and medical insurance will help a little with the company’s forthcoming cashflow difficulties, but if he is departing to help the company why is this all in accordance with the terms of his service agreement?

Minoan – subscription, open offer, directors’ debts for equity all at a big premium

Published 31 days ago

In many ways the announcement of more confetti from AIM-listed Minoan (MIN) is a big disappointment. After all, it has an asset worth many times its market capitalisation, several multiples of the enterprise value and is also carried on the books in the recent (audited) full-year results at heavy multiples of market cap and EV. And we are told that there are interested parties who want a piece of the action – so why not just sell it? Well, it is more complicated than that...

Yourgene: Acquisition, placing, FinnCap fired, my trust lost for good but the shares are bloody cheap

Published 32 days ago

I have known for a while that Yourgene (YGEN) was to upgrade its broker from FinnCrap to Stifel. It is a big upgrade. But I was told that FinnCap would be kept on as joint broker for three months during part of which Stifel is in a research blackout period. Something happened last Wednesday and FinnCap was fired with immediate effect. I shall endeavour to establish what it was but maybe it was just that FinnCrap’s last research note was so bad that it was felt that no research for 40 days was better than another note from the same shite analyst. Perhaps FinnCap did something worse. I am digging. What you, my fellow shareholders want to know about is the placing and acquisition.

PDS Biotechnology - bad news for Netscientific, and in turn Neil Woodford

Published 33 days ago

PDS Biotechnology (PDSB) joined Nasdaq just over a month ago following the merger of AIM-listed Netscientific (NSCI) investee PDS and previously Nasdaq-listed Edge Therapeutics. Netscientific – itself an investee of Neil Woodford - proudly told the market the listing was at $10 per share, but by the time the RNS came the following morning, the shares had already collapsed to $8.51.

Easter Red Flags at Night: Modern Water FY results a washout – SELL!

Published 33 days ago

Here haven’t been so many diabolical after-hours announcements as there used to be, but ahead of the Easter double bank holiday – at 6.19pm on Thursday evening – AIM-listed Modern Water (MWG) showed that the tradition is alive and kicking. Its investors might have gone home but ShareProphets was watching….

The most read stories on ShareProphets for 2019 - so far

Published 33 days ago

Neil Woodford, Julie Meyer, and, wouldn't you know it, Chris Oil are all subjects of the 20 most read ShareProphets stories of 2019. Read these crackers for an indication on how the rest of the year will go.

Inspirit - About AIM Rule 26......is this a slam dunk breach, Nomad Roland Fatty Cornish?

Published 37 days ago

As you will see below, it appears to be some time since AIM-listed POS Inspirit Energy (INSP) updated its AIM Rule 26 webpage. As far as I know, according to AIM Rules, it is supposed to be updated at least every six months but as you can see it was last updated on 26 June 2017. Has London's worst Nomad, Roland Fatty Cornish, really been out to lunch for the last year-and-a bit?...

Bould short squeeze rumours are a load of rubbish designed to pump the share price!

Published 39 days ago

There’s nothing like talk of a short squeeze to get private investors predicting all sorts of crazy figures and scenarios – when the reality is that it is normally nothing more than just a rumour designed to pump the share price, and even if true it would be more likely to result in suspension of trading for a disorderly market, than a huge rise in the share price.

Does anyone have a Scooby as to why Inspirit is sharply higher?

Published 39 days ago

I have to admit it: I haven’t a clue why shares in AIM-listed Inspirit Energy (INSP) are hugely up today. The shares opened at 0.0225p and motored as high as 0.055p. They currently sit at 0.045p, up 100% on the day. But there has been no news and I am not aware of any imminent news. So why is the stock up so strongly?

Ariana – quarterly production figures

Published 39 days ago

AIM-listed gold-miner in Turkey, Ariana Resources (AAU), released its latest quarterly production figures from its Kiziltepe joint venture this morning. Last year the numbers were 4,866 oz against a target for the year of 20,000 oz and the company went on to deliver 27,110 ounces. Now a year later, and with all the start-up bits and pieces worked out some time ago, Ariana has delivered 7,296 oz of gold for the first quarter of this year. Great stuff!

Tom Winnifrith Bearcast: I'm not insensitive to lesbians but, listeners: should I grab Mrs Chav's pussy?

Published 41 days ago

As the day of the great move to the Grim North beckons I wrestle with the moral dilemna: should I grab Mrs Chav's pussy before we go? I then explain why I was NOT insensitive to lesbians in yesterday's bearcast. Finally I look at how to commit securities fraud on AIM in a way that is almost certain to escape detection or conviction. I do not advocate you do what I say but i suspect some already are. Now about about you help us to get over 20% of our Rogue Bloggers for Woodlarks target tonight? I need donations of just £70 HERE

AFC Energy – “pleased to announce” FY18 numbers - with a death spiral and further funding needs?

Published 44 days ago

It is some three years since Evil Banksta covered AIM-listed AFC Energy (AFC) on this site with his piece In the long run, AFC Energy is a zeroThe shares were then 14.5p. Last night they were 3.775p and now they are 3.39p. I guess we are 76.5% there, then! This morning we were told that the company was pleased to announce its results – but should it be?

Tern: yet another loan to DA, this time $315k - the joke goes on

Published 44 days ago

And so AIM-listed jam-tomorrow investment company Tern plc (TERN) has handed over another $315,000 to principal investee Device Authority (DA) in the form of yet another convertible loan, and surprise, surprise the previous loans have yet again been extended by another 6 months. I suppose it was easier to do now that the confetti printing machine got another massively discounted placing away a few days ago at 8.5p, although the shares have since collapsed to just 7.25p – a bad sign indeed.

Good news for Neil Woodford as Allied Minds falls under the gaze of Crystal Amber

Published 45 days ago

There has been lots of good news for Neil Woodford – aside from the joke listing of Proton Partners on NEX. Last night, AIM-listed investment company Crystal Amber Fund Limited (CRS) announced its monthly NAV and in it we learn that it wants to take over the running of Allied Minds with a view to winding it down. The good news is it thinks it can realise the assets at a big premium to the then current share price. The bad news…..well, the criticisms of the current arrangements are eyewatering. Was Neil really happy with this, and if not, why did he not do something about it?

Sosandar – FY trading update “in line with market expectations” but I'm holding on to my free shares

Published 47 days ago

AIM-listed Sosandar (SOS) has announced a full year trading update. On the surface, a rise in revenues to £4.4 million, up 228%, looks good but the statement is a bit vague and I fear that growth has slowed down somewhat, though it is still very impressive.

Minoan – signs of progress as FY18 results are released

Published 48 days ago

AIM-listed Minoan (MIN) has released its annual results to October 2018 and there does at last appear to be some sign of tangible progress in monetising its holiday resort project in Crete. My buy tip for 2018 has so far been embarrassingly bad, for which I can only apologise. But this morning’s results have some snippets which show that things are moving in the right direction and I still sense that we might see the original buy price (6.25p) taken out.

Filthy Forty Origo Partners – where’s the website gone?

Published 49 days ago

I noted last month that ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) had sacked its investment adviser, Origo Advisers Limited “for cause”. Now it seems that the company’s website has disappeared, as you can see HERE – which is, of course, contrary to AIM Rules. But before I get on my high horse, I would note a few things.

Ooh, Er MRS – has the Nomad turned the screw?

Published 51 days ago

This is utterly bizarre: on 28 March AIM-listed POS Management Resource Solutions (MRS) announced the acquisition of Alerion Consulting Ltd from its founder, Elliott Talbott, and others for a consideration of £1.32 million to be satisfied by the issue of MRS confetti at 5p per share and we were told that an application for admission to trading of the consideration shares on or around 4 April would be made. Now, on 5th April – at 9.38am – we learn that the application to have them admitted to trading hasn’t been made at all, yet the acquisition completed on 28th March!

A double whammy for Purplebricks as two sinners repenteth: the writing is on the wall

Published 51 days ago

Two high profile sinners repenteth and the writing is now very firmly on the wall for Purplebricks (PURP) as it starts a year when it will almost certainly run out of money. The sinners: broker Berenberg and Britains's most conceited fund manager Neil Woodford.

Tern – so much for enough cash to year-end: placing at just 8.5p and an excuse that just doesn’t wash

Published 53 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) has announced a placing to raise £1.5 million (gross) at just 8.5p. Of course, this was predicted HERE just a couple of weeks back – so much for being funded to FY19, and the excuses just don’t wash.

Chris Ronnie, is my MRS troll THE convicted fraudster or worse...

Published 54 days ago

As you can see below, I am being attacked on twitter by someone purporting to be a shareholder in tecnically insolvent, red flag strewn, Management Resource Solutions (MRS). Is my troll really a convicted AIM fraudster?

Bowleven – interims, while we wait……

Published 55 days ago

AIM-listed Bowleven (BLVN), my buy tip for 2018, has announced its interim results to December 2018. The bad news of that it hasn’t been bought and nor has the Etinde asset off Cameroon - we have a more waiting to do. On the other hand, with a 15p per share special dividend already in the bag, the waiting hasn’t been too painful, even if the shares are down a bit.

Visiting the Global Group UK Investor Show part two: catching up with Sosandar

Published 56 days ago

I reported back from my visit to the Ariana Resources (AAU) stand HERE but I was also very keen to check in with AIM-listed Sosandar (SOS). My position here is pretty good, having recommended a buy after last year’s UKI and taking profits twice: I am ahead in cash and I still have a little pile of free shares in Sosandar. But with the shares now sitting at just 26p  -well down from the peak in the mid-forties – should I buy, sell or hold?

Ariana Resources – exploration & development update

Published 57 days ago

AIM-listed Turkish gold producer Ariana (AAU) has announced a positive update this morning regarding its satellite prospects around the Kiziltepe gold plant and at Salinbas on the other side of the country. The news has gone down well, with the market pushing the shares back towards the 2p mark in response...

Inspirit – Pleased to announce interims. It shouldn’t be – SELL.

Published 58 days ago

News from the boiler room this morning is that AIM-listed Inspirit Energy (INSP) is pleased to announce its interims. I’m not sure why – they are awful! But perhaps the pleasure relates to the fact that they are out at all, for the numbers show a deficit of net current assets. Is it bust yet?

Vast Resources – Manaila Mine not reopening (yet)…oh, and a Corporate Restructuring. SELL.

Published 59 days ago

As if the poor shareholders in AIM-listed Vast Resources (VAST) had not suffered enough! Today the company announced that its Manaila mine in Romania which has been on care and maintenance since December 2018 will not now be reopened as planned this month (with just two working days left!!), in order to reduce costs. Oh, and there is a full corporate restructuring and refinancing underway.

Cloudbuy sells company formations business – still a sell

Published 59 days ago

AIM-listed Cloudbuy (CBUY) announced this morning that it is selling its company formations business for cash proceeds of £279,090. Apparently this means it won’t now be calling on Mr Sella for further cash, which is probably a relief to the Sella coffers but I’m not so sure the company is out of the woods...

Yu-hoo! Why are the shares down 13.5%? Statement needed, surely?

Published 60 days ago

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?

Cloudbuy? No, cloud sell!

Published 63 days ago

AIM-listed Cloudbuy (CBUY) released its FY18 results this week and they  were truly awful. The company remains dependent on future improvements in trading performance and/or its ability to raise additional finance, in order for it to continue operating for the foreseeable future, revenues are still falling, cashflow (apart from Mr Sella’s loan) is still solidly negative and profits came in at minus £2.2 million. It is grim reading indeed.

Five slam-dunk sells for 2019 – March edition, as Walcom struggles on (just)

Published 63 days ago

Last month one of the five had its denouement as AIM-listed Haydale (HAYD) had an emergency bailout  - as long predicted by me -  at only 2p. That left just four. My suspicion was that AIM-listed member of the Filthy Forty, Walcom (WALG) would be next with its head under the guillotine and the news there was only marginally better as death has been postponed to June.

Tern – FY18 results: same old same old...

Published 67 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) has released its FY18 results. Last year’s numbers were full of holes and I thought it pretty clear that it needed more cash, even if the auditor thought otherwise. But the Tern rocket went into full gear, the shares raced ahead and it got its cash. Now the shares have again crashed back to earth, changes have been made to accounting matters and Device Authority seems to have been downgraded – although its valuation seems to equate to sticking your finger in the air! But it is the same old jam tomorrow story and not enough cash...

Amber Rudd’s pal Simon Hume Kendall, the SFO, arrests, London Oil & Gas administration – ouzo time at ShareProphets

Published 68 days ago

Things are moving rapidly in the collapse of the London & Capital Finance  ponzi scheme, which fleeced 14,000 punters – mainly pensioners – by offering high yield bonds -   and which ShareProphets has done so much to expose, as you can see HERE.

Woodford dog Netscientific clarifies on PDS, but is it telling the whole truth? Er....

Published 68 days ago

Neil Woodford dog, AIM-listed Netscientific (NSCI) seems to have been forced to put out a statement over its investee PDS which merged with Nasdaq-listed Edge Therapeutics (EDGE) and the combined entity is now listed as PDS Biotechnology (PDSB). 

Filthy Forty Origo sacks Investment Adviser, shares gain 85% - someione is 'avin' a Turkish.

Published 71 days ago

AIM-China Filthy Forty play Origo Partners (OPP) has sacked its investment adviser “for cause”. Origo has been a total disaster for its investors, but a great wheeze for the investment adviser as you can see HERE: while shareholders have lost almost everything the adviser, Origo Advisers Limited (OAL), coined it in fees, bonuses and so on. You might wonder what took the company so long, but until recently the board was dominated by its investment adviser…..and then along came hero of the hour Mr John Chapman.

Tom Winnifrith Bearcast: Which is most fecked - MotifBio, RedT or Inspirit?

Published 72 days ago

I apologise for the RedT (RED) tip it shows the arrogance and incompetence of AIM boards at their worst. Is it more fecked than Inspirit (INSP) or Motof Bio (MTBF)? I look at all three and also at Bahamas Petroleum (BPC).I f you enjoyed this, I think, relatively 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.

F40 Walcom – proposed sale of subsidiary to postpone death

Published 74 days ago

The final death throes of ShareProphets AIM-China Filthy Forty play Walcom (WALG) seem to be upon us. This is as a result of its biggest customer defaulting on payments, leaving Walcom with no cash, a much reduced client pool and a stack of bills to pay. On 28 February the company warned it may go belly up by the end of March. The good news is that the executioner has been held off until mid-April, and Walcom is now proposing to sell off a subsidiary to raise a bit of cash...

Nudge, Nudge, Winx, Winx - all sorts of games were played around this drill!

Published 74 days ago

The drilling and testing of the Winx-1 well on the North Slope, in Alaska, has been so farcical that it would almost be comical if it wasn’t for the fact that vast sums of money have been lost as a result of it. As is the norm with this type of exploration drill, social media has been awash with all sorts of rumours, and self-proclaimed drilling/reservoir engineers seem to have sprung out of nowhere armed with diagrams to show why it would be a huge find and was even better than some of the existing discoveries in the region – in reality though, many of the ‘experts’ are online avatars and could just as easily be someone who works down the local chippie and their actual experience of oil involves a deep fat fryer!...

Haydale – even at 2p open offer raises less than 50%, shares crash again. Sell.

Published 75 days ago

Oh dear – things are going from bad to worse at AIM-listed Haydale. The bailout refinancing had to be repriced down to just 2p and the open offer raised less than half the amount wanted. And now the shares have fallen below the bailout price – which was set at 2p, the nominal (or par) value of the shares which make raising any more cash a tad difficult.

Ariana – cracking 2019 production guidance

Published 75 days ago

Last year AIM-listed Ariana (AAU) offered up production guidance of 20,000 ounces of gold – and delivered 27,110 ounces. Talk about under-promising and over-delivering. This morning Ariana offered guidance of 25,000 oz of gold. Under the same maths, that suggests we could see as much as (almost) 34,000 ounces. Of course, we shall have to wait and see what the real figures are, but with the end of Q1 less than three weeks away we shouldn’t have to wait long.

And today’s Woodford disaster is………..(yet again) Eve Sleep as auditor raises going concerns

Published 75 days ago

Yesterday it was Kier (KIE) and today his attempt to disrupt the world of bedding takes yet another glorious bow, for AIM-listed Eve Sleep (EVE) has published its 2018 full year results. Oh, and Halosource (HAL), which was revolutionising the world of water, was formally booted off the AIM Casino this morning after not being bailed out. What chance a Woodford hat-trick today?

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

Published 76 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...

Woodford Dog RM2: is silence golden or a sign of doom?

Published 78 days ago

Last year, as AIM-listed pallet revolutionising Woodford Dog RM2 (RM2) ran out of cash yet again (before good old Uncle Neil, armed with other people’s money rode to the temporary rescue, yet again) the company issued regular updates on its financial position. No doubt Neil was pleased, as the company eked out a few more weeks from the remaining cash. The last we heard from RM2 on its cash position was back on 23 November 2018 when we were told that following yet another placing (backed by Neil, with other people’s money) it had enough cash to last until April. We’ve heard nothing since….

2000 Morons who want more fraud on AIM ask parliament to ban shorting

Published 80 days ago

Over on the LSE Asylum they are getting terribly excited about a Parliamentary Petition to ban shorting AIM stocks. If they can just find another 98,000 morons to sign (I’d start with the Frontera (FRR), Quindell (QPP) and Cloudtag (CTAG) shareholder lists) then this idea will be debated. Fraudsters must be praying they do...

Boxhill – Lord Razzall takes a lesson in using an Adam Reynold’s keyboard

Published 83 days ago

At the end of January we were told that Lord Razzall was to ride off into the sunset in July and was stepping down from the executive part of Executive Chairman of AIM-listed POS Boxhill Technologies (BOX). Well, it seems that he has used the extra time well and learned how to use an Adam Reynolds (who has absolutely nothing to do with this nonsense of a plc) keyboard - you know, the one with no numbers on it!

Tern – takes a walk on the Wyld side

Published 83 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) updated the market this morning on its wholly-owned investee flexiOPS with lashings and lashings of jam-tomorrow and oopsie, a profit warning buried in the text with regard to Wyld Technologies.

F40 Walcom – trading dire, defaulting customer still not paid, all over at end of March?

Published 86 days ago

Well, you can’t say you have not been warned! ShareProphets AIM-China Filthy Forty member (one of the few remaining) Walcom (WALG) warned yesterday that Trading in the first two months of the financial year has been significantly below budget. But that was the minor issue, as its defaulting customer still hasn’t paid up. Walcom is pretty specific over its predicament;

Conroy Gold and Natural Resources – Interim drivel and a balance sheet from hell: SELL

Published 87 days ago

With its sister company, Karelian Diamonds (KDR) having published interims a couple of weeks back showing balance sheet in all sorts of trouble, this morning Conroy Gold and Natural Resources (CGNR) took its turn – where we find the same problem, and some class comedy from the good it’s the way I tell ‘em Professor.

Tom Winnifrith Bearcast: Liars, damned liars and AIM CEOs

Published 88 days ago

In this bearcast I comment on Bluejay Mining (JAY) although my main commentary on it is in a seperate podcast HERE, Metals Exploration (MTL), and Nostra Terra (NTOG). I also look at Ted Baker (TED), TekCapital (TEK) and Alien Mining (UFO) with its new Nomad, London's worst, Roland "Fatty" Cornish.  If you enjoyed this podcast please support the EIGHT rogue bloggers for Woodlarks with a small donation HERE

Good Spot Roger Lawson – Tungsten and the "fanciful presentation" of cash

Published 89 days ago

My old pal Roger Lawson of ShareSoc deserves credit for this good spot on Tungsten (TUNG) in terms of its claim to have, for once, generated cash on a quarterly basis. Well up to a point, as Lawson explains:

Minoan – Director share purchases: should we take comfort? Well, yes.

Published 90 days ago

AIM-listed Minoan (MIN) this morning announced that three directors have put their hands in their pockets and bought shares costing a total of £100,000. That is a significant enough sum and normally would encourage me to buy more, but the trade dates reported are 3 December 2018! Why has it taken so long to report - surely this is a breach of AIM rules! Er, not so fast…..….

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

Published 90 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.

Five slam-dunk sells for 2019 – one down, four to go

Published 92 days ago

They say that a week is a long time in politics (attributed to Harold Wilson), and so it seems with the equity markets. A week ago my portfolio of five shares to sell was actually up by 4.6%. Now, all of a sudden we are at minus 8.6%.

Ariana – Q4 numbers for Kiziltepe read very well

Published 93 days ago

I called time to sell some Ariana (AAU) last week but was convinced of further upside and thus while I wanted to sell some, I was definitely hanging on to the majority of my shares. This morning – perhaps a little later than I had expected - Ariana filled in the details of Q4 gold and silver production from its joint venture plant at Kiziltepe. There was no need for any anxiety over the news: it was very good and this is turning into a habit. Long may that continue!

OUZO TIME! Haydale - you were warned and warned, rescue bailout placing at just 2p

Published 93 days ago

I sincerely hope that no ShareProphets readers were left holding this particular baby we warned you often anough.

Haydale – ouzo on the way and Proactive should be ashamed; still a screaming sell

Published 95 days ago

Well here we are: I’ve  been saying for months that AIM-listed Haydale (HAYD) had to raise cash in a material way, all the way down from 78p last June and now we have word of a placing at just 5p which Steve Moore published yesterday. Amazingly, even after the company more-or-less confirmed our story (or failed to deny) the shares still sit at 12.25p, having been as low as 9.75p. Some people simply won’t be told. But Proactive should be shame-faced.

Karelian Diamonds – “Great Pleasure” in presenting Interims justified? Er, no…….SELL!!

Published 97 days ago

This morning AIM-listed Karelian Diamonds (KDR) - the Prof Conroy sister to Conroy Gold and Natural Resources (CGNR) - offered up its Interims to the end of November. Prof Conroy was pleased, but should shareholders be enthused?

Ariana: cracking news, 2p mark hit - time to take a few profits (but leave some on the table - 2.5p next stop)

Published 103 days ago

My buy tip for 2019 - AIM-listed Ariana Resources (AAU) – has made the 2p to sell target price: time to take some profits, then - and where’s the ouzo? This is on the back of cracking news of a £3.8 million return of capital to the parent. The implications are that Kiziltepe is throwing off plenty of cash – way more than had been previously disclosed.

Frontera arguably insolvent says Judge as he finds against it in crunch case - another breach of AIM Rules

Published 103 days ago

The whore blogger Malcolm Graham Wood and Frontera Resources (FRR) repeatedly asserted that legal claims against it had no merit and would be thrown out. A Judgement handed down on 22 January, which we publish below, shows that was not the case. The Judge slams claims made by Frontera in the case against lender Outrider as "fantastical" says that it is "strongly arguable" that Frontera is insolvent and rules against the formerly AIM listed POS.

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

Published 105 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..

F40 China New Energy – no news, shares plunge 18%. Why?

Published 106 days ago

It seems that someone wants out of ShareProphets AIM-China Filthy Forty play China New Energy – the shares plunged 18% yesterday to just 1p on no news. And yet only on Monday we were told that some outfit in the BVI had offered up a £1.118 million loan “for general corporate expenses”, convertible at 4.7p upon a listing in Asia. This, from a company which claims to be profitable!

Cloudbuy – Smoke and Mirrors Trading Statement: SELL

Published 107 days ago

AIM-listed Cloudbuy (CBUY) has offered up a trading statement for the year ended December 2018 and it seems that still not all of the garden is smelling of roses. Revenue was down by around 25% and although we are told of two opportunities which together would see the company reach cash-flow breakeven, we are not told when and we don’t know the likelihood of conversion to a contract.

Westminster Group led by disgraced former Tory MP Tony Baldry: discount placing ten days after mega ramp

Published 107 days ago

The behaviour of Westminster Group (WSG) chaired by disgraced ex Tory MP , Sir Tony Baldry of 3DM fraud infamy, displays everything that is worst about the AIM Cesspit. Today we have a £500,000 placing via newly appointed joint broker the low -life team at SVS. But just ten day ago it was all so different.

Frontera - more shocking papers emerge showing the extent of the fraud

Published 108 days ago

Slung off AIM a few weeks ago, Frontera Resources (FRR) still has its fans in the Bullettin Board Moron community but the latest trove of emails to emerge, which we publish in full below, will shock even them as the extent of the fraud emerges.

Tom Winnifrith Bearcast: my moral maze with Mrs Chav's Pussy & another day of shame for AIM

Published 110 days ago

I start with my big moral dilemna - listeners do you have any advice? Then I look at another day of shame for AIM ref Maestrano (MNO) and, more particularly, Immotion (IMMO). I look at Gama Aviation (GMAA), Numis (NUM), Finncrap (FCAP), Greatland (GGP) - another Dave Lenigas twitter ramp heading south - and at Avanti Communications (AVN)

Maestrano – another disaster IPO on the AIM casino warns again

Published 110 days ago

Floated on the AIM Cesspit in May 2018 at 15p a share and raising £6 million Maestrano (MNO) describes itself as a “cloud business integration platform with cross-app data synchronization” I’d describe it as an univestable piece of shit.

F40 China New Energy – convertible loan at a massive premium (too good to be true?)

Published 111 days ago

AIM-listed member of the ShareProphets AIM-China Filthy Forty, China New Energy (CNEL) has announced a £1.118 million (before expenses) convertible loan with an entity called Double River Limited of the BVI. With the shares previously at just 1.125p, the conversion price of 4.7p seems a little on the too-good-to-be-true side of things, and is conditional on China New gaining a listing on a stock market in Asia. What’s not to like?

Looking forward to Ariana’s Q4 numbers at Kiziltepe

Published 111 days ago

AIM-listed Ariana Resources (AAU) told us on 14 January, as it reported Q4 and full year production from its joint venture gold plant at Kiziltepe in Turkey, that it would release full results for the period by early February and I’m really looking forward to that...

Red Rock – update…getting there: BUY ( to double)

Published 113 days ago

Red Rock Resources (RRR) has updated us on progress on its African operations.

DEADLINE MIDNIGHT TODAY: Bulletin Board Moron of the Week Contest in honour of the Frontera fraud - can you beat this one?

Published 113 days ago

The AIM demise of the fraud Frontera (FRR) has unleashed a barrage of Bulletin Board idiocy not seen for years. It seems that the idiot from every village in the land was invested here and the comments on the Asylums at the LSE, ADVFN and iii as well as on twitter restore ones faith in the sheer stupidity of your fellow man. To win a semi naked photo of Britain's top share blogger before lunchtimes, Thirsty Paul Scott, simply post your examples of supreme idiocy ( not necessarily on Frontera) in the comments section below. The deadline is midnight on Saturday 2nd Fenruary. I start off with my nomination. Can anyone beat this gem from tune player on the ADVFN Asylum.

Filthy Forty Walcom – anything to tell us?

Published 114 days ago

As Tom Winnifrith drowns himself in Ouzo for breakfast this morning, after AIM-listed Telit (TCM) put off its disposal and fellow AIM-listed Altona (ANR) and Alien Metals (UFO – formerly Arian Silver) were suspended on AIM, I wonder if I’m missing out. Back on 21 November 2018, AIM-listed Walcom (WALG) of the ShareProphets AIM-China Filthy Forty told us it had a debt repayment due in January…..

Haydale – Wheelsure suspended pending accounts: where does that leave the collaboration?

Published 114 days ago

Back on 27 November 2018, AIM-listed Haydale (HAYD) announced (via RNS Reach, mind you) a collaboration with NEX-listed Wheelsure (WHLP) was being joined by Manchester University’s Graphene Engineering Innovation Centre (GEIC) in a project to develop an intelligent new product pairing Haydale's functionalised graphene sensor technology with Wheelsure's failsafe locking solution. Of course, Haydale needed cash then (as it does now). But then so did Wheelsure (see HERE). As such it all looked like a ramp.

Boxhill – death marginally postponed as Razzall rides into the sunset

Published 116 days ago

I just don’t know where to start! AIM-listed Boxhill Technologies is back trading – at least for now – having released bullshit numbers (as discussed by Tom Winnifrith HERE) for its FY to Jan 31 18 accounts and the following interims. We are told on the calamity that was the disposal of Emex that the board is confident the £2 million loan note is good, but that Lord Razzall, Clive Hyman and Andrew Flitcroft are departing the board by the end of July (so who is left to say the loan note is good?) and that the “sinking fund” which was supposed to make it good hasn’t got off the ground yet. Er…right.

Have all PCG Entertainment shareholders adhered to the holdings notification rules?

Published 116 days ago

PCG Entertainment (PCGE) has seen its share price slump over the past few months but, despite there having been a number of large transactions, there have been no notifications of any changes to the significant shareholdings in the company. Now I find this very strange, given that there have been several sells that have amounted to around 1% of the shares in issue, along with numerous others around the 0.5% level, and during December and January there were more than 233 million shares traded in total – of the 1.244 billion in issue...

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

Published 117 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.

Advanced Oncotherapy – who’s been selling? Tut, tut!

Published 117 days ago

AIM-listed Advanced Oncotherapy (AVO) announced director and significant shareholdings this morning, following its latest fundraising in December and resulting share issues yesterday. But it seems that one of the directors has been – undisclosed – selling!

Tom Winnifrith and Gary Newman in top four market abusers & liars on AIM - its "official", reported to FCA

Published 117 days ago

Oh well that is settled then. All those frauds we exposed, all those promotes and ramps we revealed, all those RNS lies we showed to be lies, it was all a smokescreen.

Sensyne – a Neil Woodford success story? No: Red Flags (and accounting blooper) Central

Published 117 days ago

AIM-listed Sensyne Health (SENS) was spun out of Drayson Technologies and joined the Casino last August, raising £60 million in the process and has just published its first set of accounts as a listed company. No doubt Neil Woodford will have enjoyed the market response as the shares put on 7% (Woodford holds 20%), although not enough to extinguish his pain at Utilitywise (UTW) as the latter announced the dreaded “strategic review”. I doubt he will have enjoyed Sensyne’s ride as a plc either, as the IPO was at 175p per share and even after this rise the shares are 167p. Hardly a cracking endorsement! So what does Sensyne do? Well, it is – of course – disrupting its world! According to Woodford:

City's No 1 oil analyst comments on the AIM demise of Frontera

Published 118 days ago

Zac Phillips at SP Angel has opined on the AIM demise of the Frontera (FRR) fraud and does not mince his words. The great man says...

Rurelec – things are starting to look up

Published 118 days ago

AIM-listed Rurelec (RUR) has been little short of a disaster for the past few years, and more recently as the company has struggled to survive it has been hit by plenty of bad luck. I keep saying it, but I am amazed the company is still here at all. Last week things started to look rather better – or at least less terminal...

Frontera Shareholders Action Group established - to support the board! Bonkers

Published 118 days ago

So what if Frontera (FRR) got slung off AIM because its board told lie after lie, some folks just want another punishment beating it seems. And thus loyal shareholders "long and strong" have set up a Shareholder Action Group to assist the board. hat-tip to reader Juicin for spotting this. The group lays out its aims and objects thus: 

Tom Winnifrith Bearcast: An AIM CEO guide to misleading about the need for a placing

Published 119 days ago

I start with a detailed look at Neil Woodford's debt crisis at his Patient Capital Trust (WPCT) as exposed by Nigel earlier and explain what happens next. Then prompted by my Blue Jay (JAY) article I look, using various case stiudies, at how a CEO on AIM gives you a clear steer that he is not going to do a placing when he is going to do exactly that.

Ariana – Directors step in to mop up the buy-back fiasco: still a strong hold

Published 120 days ago

AIM-listed Ariana Resources (AAU) announced a series of director share purchases which, as promised, mops up most of the share buy-back shambles earlier this week. This is good: the shares are in strong hands and shows that the directors have faith. It also shows that they are doing their best to make amends out of their own pockets.

And today’s Neil Woodford disaster……Midatech (again): jam tomorrow, no cash today!

Published 121 days ago

AIM-listed Midatech (MTPH) is a cancer-busting company which uses its Q-Sphera technology which, according to Proative Investors, works in a different way to deliver the drug at the right time. Ah, so we have a disruptive cancer-buster…..step forward Neil Woodford, who backed the IPO back in 2014 (at 267p vs share price now just 3.4p!) and ponied up to support placings along the way. Oh dear. But it gets worse……although the PR comedy this morning makes up for it!

Tomorrow’s Neil Woodford disaster today – Verseon

Published 122 days ago

A note from the celebrated Cynical Bear last night got me looking into one of the very first investments made by Neil Woodford for the Woodford Patient Capital Trust (WPCT) – that of AIM-listed Verseon (VSN). Dum dum-dy dum, dum dum-dy dum, you’ll see the Red Flags flying here……Surely this shows all that is wrong with Woodford!

And today’s disaster from Woodford is (again!) Eve Sleep

Published 122 days ago

AIM-listed Eve Sleep (EVE) is another Neil Woodford disaster story – this time in the world of mattresses. Naturally, it is going to disrupt the world of bedding, a world obviously in need of revolution. Not!

Ariana – buyback whoopsie at 4.29pm, but a minor issue - blame Roland "fatty" Cornish. Strong hold.

Published 124 days ago

Oh dear. AIM-listed Ariana Resources has announced that the share buyback previously announced on 16 January 2019 – and which occurred on 4 January – when the company bought back 4.5 million shares into treasury was not allowed as the company didn’t have the distributable reserves available on the balance sheet. Red faces all round, but this is not a major issue.

Ariana – the good news continues with developments at Kizilcukur

Published 125 days ago

AIM-listed Ariana Resources (AAU), one of my tips for 2019, has been on a bit of a roll so far this year. It has been helped by the weakness of the Turkish Lira and a bit of strength in the price of gold, but recent news of gold and silver production from its Joint Venture processing plant at Kiziltepe has helped too, as has a share buy-back. This morning Ariana offered an update on its wholly-owned Kizilcukur project.

5 Sells for 2019 – early January update

Published 125 days ago

I thought I’d update on my 5 sells for 2019 as after just a couple of weeks a few cracks are beginning to show already. The five, Telit (TCM), Haydale (HAYD), Yu Group (YU.), Walcom (WALG) of the ShareProphets AIM-China Filthy Forty and First Derivatives (FDP) are not necessarily shorts – some, such as Walcom, couldn’t be shorted anyway. But they are sells.

VAST – having promised no more death spirals and then done one with no conversion notice within 30 days…….. WTF, Nomad Fatty?

Published 127 days ago

I highlighted the latest in a series of death spirals entered into by AIM-listed Vast Resources (VAST) on 22 December (see HERE). That was after the company had said it wouldn’t do any more, but then announced its issue at no-one-is-watching o’clock on 21 December 2018. The thing is, it told us that tranches of the death spiral loan would not be convertible into shares of the Company (the “Shares”) for the initial 30 days from the date of their respective advance. And so today, 18 January - and thus four weeks and not thirty days later…..

Bowleven – shares slide 38% but don’t worry!

Published 129 days ago

If you have not been following AIM-listed Bowleven (BLVN) you might have missed that it proposed to cough up a special dividend of 15p per share ten days ago. This morning the shares went ex-dividend, which is why the shares are down. But the good news is that they are only down by 12p – so in effect they are up by 3p, or about 10%, on yesterday’s close.

Apple supplier TSMC warns – what about the read across to IQE?

Published 129 days ago

I see that The Telegraph has reported on a warning by Taiwan Semiconductor Manufacturing Company (TSMC) of a sharp fall in sales due to a global slowdown – not least of which will be due to its sales of chips to Apple for iPhones and iPads.

Ariana – surprises with share buy-back - shows how cheap the shares are

Published 129 days ago

AIM-listed Ariana Resources (AAU) has rather surprised with an announcement that it bought back 4.5 million shares to place into treasury. The message from this is pretty clear!

Haydale – after yesterday’s selling news, yet another RNS Reach

Published 131 days ago

I see that AIM-listed Haydale (HAYD) has released yet another RNS Reach to tell of an eighteen month supply agreement. The shares have jumped once again, by 12%, But, of course, it is an RNS Reach and thus should be viewed as a marketing, rather than anything significant such as mega-earnings.

Haydale – another insti bailing and more insider dealing

Published 132 days ago

AIM-listed Haydale (HAYD) is still seeing its management selling shares and another institution seems to be bailing out. Of course, we know that Haydale needs a placing and it is only a matter of time before the £3.2 million black hole in the balance sheet as predicted by paid-for researcher Hardman (so I’ll bet it is more) has to be addressed.

Tern – well surprise, surprise: another loan to Device Authority!

Published 132 days ago

OK we are a couple of weeks later than I predicted, but AIM-listed jam-tomorrow Internet of Things investment company Tern plc (TERN) has announced yet another convertible loan to its principal investee Device Authority this morning. Tern may be pleased with the progress that DA continues to make with its partners, including the recent contract secured with a leading medical device manufacturer (as announced on 27 December 2018) but clearly DA is still burning cash at a prodigious rate!

Ariana – cracking numbers right on cue

Published 132 days ago

AIM-listed Ariana Resources (AAU) released Q4 gold production numbers this morning – exactly as predicted HERE yesterday. Even better the numbers were pretty much in line and the shares have responded higher – not quite a bottle of ouzo yet, but it looks to be well on the way.

Independent Oil & Gas, London Oil & Gas, Amber Rudd and the small world of Tory politics , they are all at it

Published 132 days ago

I have already noted how London Oil & Gas, the company that is using Ponzi fraud cash from related party LCF (now under full FCA investigation) , to fund AIM listed Independent Oil & Gas (IOG) was linked to a bent solicitor and a Tory grandee. But the links with the nasty party are far deeper and go right up to the ghastly work and pensions secretary, and former stockmarket spiv, Amber Rudd.

Breaking: the Other nail in the London Oil & Gas coffin that will bring down AIM listed Independent Oil & Gas

Published 133 days ago

Oh dear, oh dear. This really is proof that Independent Oil & Gas (IOG) is - whatever its scumbag Nomad FinnCrap (FCAP) claims -complete toast. You will remember that Independent owes more than £30 million to unquoted London Oil & Gas. That money has to start being repaid within a few months and Independent will go bust unless London provides more funds. But London has borrowed money from LCF a related party firm subject to a full blown FCA raid as it is a ponzi fraud as we showed here yesterday. That cash is repayable on demand. Now read on....

Ariana – will production report see a lift to the share price? I hope so!

Published 133 days ago

Judging by the form of my buy tip for 2019 AIM-listed Ariana Resources over the past nine months, we should see the latest production numbers from its Kiziltetepe joint venture gold plant in Turkey this week. Numbers for the first three quarters have already blown the company’s annual production forecast of 20,000 oz of gold out of the water, having reached almost that figure in nine months. Meanwhile shares in Ariana have had a good run of late, moving up from a low point of almost 1.1p in October to the current 1.575p, putting the company on a market capitalisation of £16.7 million.

Angus Energy – sheer AIM Casino comedy with Lord Lucan unless you are a shareholder in which case a tragedy

Published 136 days ago

Where to start? This is laughable unless you are one of those suckered in to buying shares in Angus Energy (ANGS) by the diarrhoea of pre-placing ramp tweets from shameless Big Dave Lenigas. Then it is a bit of a tragedy. Today’s newsflow is hilarious.

Tom Winnifrith Bonus Bearcast: Finncap Je t'accuse re the AAOG debacle - everything that is wrong with the AIM Casino

Published 136 days ago

In this bonus podcast, recorded at a Motorway service station, I look at the Anglo African Oil & Gas (AAOG) debacle and THREE massive failings by the Nomad and broker FinnCrap (FCAP). I raise questions about FinnCap it cannot answer but also show why this eiposde flags up the conflict of interest issue which is the cancer destroying the whole of AIM. The home truths will make uncomfortable listening for many.

Sosander – Q3 trading statement update

Published 136 days ago

I might be hopelessly optimistic with AIM-listed Sosandar (SOS), but the latest trading statement read rather well to me. As per HERE my best case scenario was for Q3 sales of £1.7 million and they came in at £1.6 million, which means that Sosandar has clocked up £3.44 million of sales in the first nine months of the year. Compared to the house broker forecast by Shore Capital of £3.9 million of revenues for the full year that, as I have previously suggested, means an easy target. It is always nice to see under-promising and over-delivering, even if I thought the targets were too easy in the first place...

Anglo African Oil & Gas – who is the villain here: Tom Winnifrith, Nomad FinnCrap or CEO David Sefton?

Published 138 days ago

Yesterday I revealed that Anglo African Oil & Gas (AAOG) was undertaking a massively discounted placing at 10p to raise £4 million which seems to have stirred up a real hornets nest among the Bulletin Board Morons. I have been reported to the FCA numerous times ( again) and the charge is that I am the villain. But am I? I suggest not but put up two other candidates for that eipthet and that I am the hero of this tale.

Bowleven – time for a small drop of Ouzo as a 15p special dividend is announced

Published 139 days ago

It has taken a bit longer than I had hoped, but this morning we had the first sign that AIM-listed Bowleven (BLVN) might be set to come good. I tipped this stock at around 31p a year ago in the ShareProphets Christmas tip-fest, hoping that it would be all over by now, and top-sliced at above 37p. Since then the shares have drifted slowly back to the mid 20s but this morning the company announced plans to cough up 15p a share as a special dividend next month and the shares have responded higher to 32p. I hope a few managed to follow my upgrade to BUY during November, at just 25p.

Haydale – more insider selling tells you all you need to know

Published 140 days ago

It was announced on Friday that the former CEO and now former board member of AIM-listed Haydale (HAYD) has been selling shares. Back in December it was his two colleagues at Haydale Ceramic Technologies dumping shares (over £110,000 worth). In September, former boss Ray Gibbs sold about 38,000 bits of confetti and now he’s sold a further 80,000 shares. That’s a fair bit of selling by insiders!

Are the wheels about to come off ref Telit’s disposal?

Published 140 days ago

I can’t help but notice that the share price of AIM-listed Telit (TCM) hit a new end-of-week low last week, closing down at just 118.9p – a level not seen since August 2017. Of course, that still capitalises the company at £152 million, which seems extraordinary for a company looking to sell its crown jewels to leave it with, according to The Sheriff, perhaps only $10-20 million of cash at peak working capital usage. And loss making at the full year. But why the collapse now? Is that anything to do with the putative purchaser?

Tom Winnifrith Bearcast - does the Wolf of Wall Street have British cousins?

Published 141 days ago

I was  re-watching the movie last night and ask the question. I discuss signs that the FCA really is getting stuck in, albeit too late. I look at too good to be true investments starting with London & Capital Finance. I look at house prices and why I think that bad data gives far too rosy a view. I look at US jobs data yesterday and what that means for base rates. And I look at the big short positions in AIM stocks. Don't bet against the bears! Now off to West Ham. 

The People’s Operator - TPOP goes POP

Published 143 days ago

At 5.09pm last night, no-one-is-watching o’clock (natch), The People’s Operator (TPOP) announced that it had filed a notice of intention to appoint administrators – we are told this will happen within ten days. Of course, readers of ShareProphets have known this was coming for some time (not that the company has been falling over itself to make that clear). The decision was taken on New Year’s Eve – so how on earth did it take until 5.09pm yesterday to announce it (after everybody had gone home for the night)?

Five slam-dunk shares to sell for 2019

Published 145 days ago

Following on from my five to sell for 2018, which resulted in a gain of 38% as a bear, 2019 seems to offer more pickings. After all, the markets are very wobbly and we have the chaos of Brexit to look forward to. So here are my five to dump now for 2019.

5 Slam-dunk shares to sell for 2018 – the result

Published 145 days ago

Well the year is up, the results are in and my pick of five AIM stocks to sell has offered up a pretty good result. I doubt these shares could easily have been shorted, but I hope readers managed to avoid them at least.

Tom Winnifrith Bearcast: Happy New Year unless you are in Scotland and/or play the bagpipes

Published 146 days ago

I have a bit of a rant about New Year's Eve. The Mrs and I will both be going to bed with a bottle of brandy by ten. In terms of stocks, I look at Amur (AMC), Cabot (CAB) and all that is wrong with AIM, Frontera (FRR), Metals Exploration (MTL) and Mayan (MYN). I have a handy tip to save money in 2019 and wish you all a prospoerous New Year.

Tern – “current asset” of Device Authority loan extended again

Published 146 days ago

Much as predicted by yours truly, AIM-listed Tern plc (TERN) has yet again extended the loans it has given to its principal investee Device Authority (DA). The point here is that these loans have been classed as a current asset ever since the first one was made, and they have been periodically extended – presumably because DA had no means by which to repay them.

Minoan – some good news

Published 146 days ago

AIM-listed Minoan (MIN) has offered up some good news to its investors in that 11.325 million options due to expire today and which are not expected to be exercised will not be extended. Of course, the news I would like to see is the monetisation of the Cavo Sidero asset but given that the future dilution has come down (for a change!) this is a small piece of good news.

Another day of shame for AIM: Cabot Energy spunks $16.5m in a year, warns could go bust in weeks, did ex CEO inside deal?

Published 146 days ago

Cabot Energy (CAB) which, as Northern Petroleum, once saw its shares touch 140p today admitted that unless it gets away a placing at a “deep discount” (its words) it will go bust by the end of January. Its shares, about which we have been warning for eons, have crashed by 59% to 0.625p. To think that, less, than a year ago, former CEO Keith Bush raised $16.5 million at 5p. All the money's gone.

Red Flags at Night: The People’s Operator updates on its death (or, rather, doesn't)

Published 146 days ago

AIM-listed The People’s Operator (TPOP) (until Thursday, but suspended) issued a statement at 6.24pm on Friday to update shareholders on its listing status (no Nomad and due to be booted to the great stockmarket in the Sky on 3 January) and its financial position. A prime example of a no-one-is-watching o’clock RNS – and read it carefully and it is clear that the Grim Reaper is hovering, and will strike imminently...

Inspirit – FY18 Results from the boiler room

Published 148 days ago

3.28pm on the Friday between Christmas and New Year is hardly the time to release your results unless they are really bad, and so it proved with AIM-listed Inspirit Energy (INSP). This is a company which, let us not forget, has been developing a revolutionary boiler (where is Neil Woodford?) since it listed via an RTO on the Casino way back in 2013 – after it was rescued from administration. The original company dates from 2010. So how are we doing in 2018?

Haydale: PMDRs selling out, take note!

Published 149 days ago

I have been calling AIM-listed Haydale lower from 78p last June, in the wake of a nasty profit warning. Since then we have had two more, and even the company’s paid-for ramper research company Hardman admits the company needs more cash but Haydale sat on its hands instead of biting the bullet until raising a pitiful £250,00 in a placing at 20p shortly before Christmas and kicked the can down the road with a further £750,000 loan (at 11% interest).

Tern – new 5 year contract for DA (well done) but….

Published 150 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) has announced that its principal investee, Device Authority (DA) has landed a contract. Hooray! But it is only worth $80,000 in the first year and I expect Tern to announce further funding for DA in short order.

The ShareProphets share tips of the year 2019 – No 1 is from Gary Newman

Published 153 days ago

Between now and January 2nd we shall be publishing more than 20 share tips of the year – buys and sells. We kick off with one from Gary Newman 

Frontera – Nomad quits, shares suspended, it is game over morons & ouzo time for me

Published 153 days ago

I have spent all weekend being abused on twitter by morons who own shares in Frontera Resources (FRR) - notably @keithcareth, check his feed he is insane -  who insisted that I did not know what I was talking about, that the FCA was after me, etc etc etc. I await an apology as today – as was inevitable after our weekend revelations HERE and HERE – the Nomad, Cairn, has quit. The shares are suspended and here is why it is game over.

Woodford Dog RM2 – wins VAT reprieve but no cash impact (so why bother with an RNS?)

Published 153 days ago

AIM-listed and permanently on the edge of insolvency RM2 (RM2) has announced some good news. Well, sort of: the executioner is still booked, but at least the taxman is off its back.

Tom Winnifrith Bearcast: the most shorted shares on AIM - the bear case is now even stronger

Published 154 days ago

I start with a look at Frontera Resources (FRR) and what should and what may happen on Monday in light of this weekend's revelations. You would not want to be long of this one. Then I look at the most shorted shares on AIM and explain why for many of them, notably IQE (IQE), Telit (TCM), ASOS (ASC), Boohoo (BOO) and Victoria (VCP) the bear c ase has just got that much stronger, by an order of n, in the past few weeks. Finally a warning for shareholders in First Derivatives (FDP) - I have a small present for you tomorrow. :)

5 Slam-Dunk Sells for 2018 – almost the final reckoning

Published 154 days ago

We are days away from the end of 2018 and so it is time for almost the final reckoning for my portfolio of 5 shares to sell this year. I say almost the final reckoning because Tom Winnifrith’s Winnileaks has been receiving a few things which suggest that AIM-listed Frontera Resources (FRR) may well be facing its final reckoning extremely soon – ouzo at the ready, then!

Red Flags at Night: Vast Resources - having said it would avoid death spiral finance……

Published 155 days ago

Oh dear! Previous boss of AIM-listed Vast Resource (VAST) Roy Pitchford had an unhappy time with death spiral finance facilities with Crede and Bracknor and now, despite the company having said it would avoid death spiral finance facilities in future, has announced – under Brian Moritz – a “bridge facility” which is….a death spiral, this time with Bergen. It is interest free, naturally – if you ignore the fees – but critically, this time the facility is not convertible for 30 days. After that…..well, we know what death spirals do to share prices.

Haydale – well ho ho ho, time for an ouzo!

Published 156 days ago

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. 

HaloSource – shares suspended, a Woodford dog at last looks set to be put down

Published 156 days ago

Previously writing on HaloSource (HAL) I noted Neil Woodford dog’s balance sheet requirements in; surprise, surprise it ain’t looking good!. Now an announcement; “Suspension of trading”. Uh oh…

ShareProphets RNS Translation Service: Yu Group ‘fesses up (again) as shares collapse another 22%

Published 157 days ago

And so at last we have the results of the forensic accounting review which followed the confession from AIM-listed Yu Group (YU.) on 24 October 2018 that its accounts were, in effect, a work of sheer fiction and has seen the company’s £12 million placing at £10 per share being investigated by the FCA. We already knew that the bill would be around £10 million – but now it is going to be around £13 million. As ever, the ShareProphets  RNS Translation Service is on hand to help us understand all this (original in bold).

Red Flags at Night: The People’s Operator announced resignation of FinnCrap as Nomad at 5.40pm. It’s curtains….

Published 157 days ago

Just when you thought it was dead, wrote Gary Newman on 5 December 2018. Clearly some people were on the pitch – they think its all over. Well, it is now! Last night at 5.40pm AIM-listed The People’s Operator (TPOP) announced the resignation of FinnCrap as its Nomad. That should have given this POS a month to find a new one, but since it has been suspended since failing to produce its FY17 accounts, it will be booted off the Casino on January 3rd.

F*CK YU – now the FCA investigates as suspicions of securities fraud mounts

Published 158 days ago

On Monday I wondered out loud what was happening about the forensic investigation into various accounting matters – including accrued income recognition and impairment of trade debtors at Yu Group (YU.). Then there was the small matter of a £12 million placing on the back of FY17 accounts which now appear to be somewhat questionable. Well blow me down with a feather: now the FCA has notified the company that it intends to conduct an investigation and the shares (which I called a bargepole of the highest order on the initial ‘fessing up of 24th October) have now fallen below half of the IPO price of March 2016.

Red Flags at Night – IGAS misses Bowland shale in latest drill

Published 159 days ago

It is some time since I offered any comment on AIM-listed Igas (IGAS), following the near-demise of the shares long-predicted in these parts. But last night Igas drew attention to itself by offering up an Operational Update well after hours, at 5.43pm. Talk about no-one-is-watching o’clock! You just know it wasn’t good news…..and it wasn’t!

ShareProphets China AIM 'Filthy Forty' performance update – December & when will the next domino fall?

Published 159 days ago

Following it previously noted, Allenby a Nomad of choice with some of the few remaining 'Filthy Forty' constituents. Could similar action follow?, here's an update on the current ShareProphets China AIM 'Filthy Forty' situation...

Filthy Forty Red Flags at Night – China New Energy quacks away and to waddle from AIM?

Published 159 days ago

Last Night at 4.39pm – after hours at no-one-is-watching o’clock, ShareProphets AIM-China Filthy Forty member (one of just seven remaining) China New Energy (CNEL) issued a Trading Update. Except the meat of the dish was not about the company’s trading, it was about trading in its shares. We are told the Company is currently considering and assessing all the options available for fund raising in other stock exchanges. Aha - it is voluntary execution ahoy!

YU – all silent in run up to Christmas (so far….)

Published 160 days ago

Back on 24th October, AIM-listed Yu Group (YU.) issued a devastating RNS regarding accrued income recognition, impairments of trade debtors and the shares collapsed 80%. Then on 5th November the company announced that it had appointed PWC and DLA Piper to carry out independent forensic investigations and promised to update the market in due course. So how about that update?

Sosandar – read-across from calamitous ASOS warning? Nothing to see here…..

Published 160 days ago

This morning AIM-listed ASOS (ASC) offered up a disastrous Trading Update noting a significant deterioration during November, that conditions remain challenging and that it was revising downwards sales growth to c. 15% (previously 20-25%), retail gross margins by -150bps (previously flat at 49.9%) and EBIT margin to 2% (previously 4%). Ouch, ouch and triple ouch. Asos saw its shares decline by a whopping 38% in early trading. So what about fledgling minnow, AIM-listed Sosandar (SOS)?

Table of shorted AIM shares - week to 14/12/2018

Published 162 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2017 and thus far in 2018 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Haydale – Wheelsure nonsense!

Published 163 days ago

We all know that AIM-listed Haydale needs to raise money, and we have had all forms of pumping to support it in the form of RNS Reaches and paid-for broker notes. Now we see reannounced old news from NEX-listed Wheelsure (WHLP) regarding the joint venture with Haydale and the University of Manchester which Haydale announced on 27 November (and Wheelsure announced on the 26th)! Even Haydale didn’t even bother with an RNS Reach, although an announcement went out via Alliance News: never miss the opportunity to re-inform! But this does beg one or two questions.

Reneuron – jam tomorrow for Neil Woodford, or just in a jam tomorrow?

Published 163 days ago

AIM-listed Neil Woodford investee Renueron (RENE) posted its interims to the end of September this morning. As with many of Neil Woodford’s investment choices, this is another cash-burning operation but it does have the advantage of some interesting technology. The question, of course, is cash!

Ariana – Kizilcukur news & (for “nice” reasons) a stance downgrade

Published 164 days ago

It has been a long time coming, but yesterday shares in AIM-listed gold producer Ariana (AAU) finally hit 1.6p, a price I was happy to buy up to. This latest rise was on the back of news from the company’s Kizilcukur project - 22km from the Kiziltepe processing plant - that a drilling programme is about to start...

Tom Winnifrith Bearcast: Filtronic - either way FinnCrap has sinned big time, which is it?

Published 165 days ago

I start with young Joshua's meeting with Santa Claus as flagged up yesterday and then discuss a couple of other Christmas rituals. Then it is onto today's shocker from Filtronic )(FTC). I cover why the statement is misleading, discuss what is the real cash position and thus how quickly this could completely unravel. I then look at FinnCrap (FCAP), appointed Nomad and broker on November 15. Either it failed to do adequate Due Diligence or it has colluded in sitting on price sensitive information in clear breach of AIM Rules. Either is very naughty indeed. Which is it Sam Smith? Finally a few words on the leadership challenge to wretched Theresa May, 

Table of shorted AIM shares - week to 07/12/2018

Published 169 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2017 and thus far in 2018 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Thursday Caption Contest - Sam Smith at the Stock Exchange to celebrate the FinnCap IPO

Published 171 days ago

The picture below is of Sam Smith the CEO of FinnCrap (FCAP) celebrating the IPO of her company on AIM at the offices of the London Stock Exchange. I ask you for suitable captions in the comments section below with the prize for the wittiest and rudest being a semi naked picture of Britain's top share blogger (mornings only), Thirsty Paul Scott. For what it is worth I set an early low bar with my suggestion...

Numis statement shows why FinnCap’s IPO today is such a stinker

Published 172 days ago

FinnCrap (FCAP) has today listed on AIM having raised £3.75 million of new monies while insiders dumped £1.25 million of shares on mug punters. Unfortuanately for smug Sam Smith and the FinnCrap team a statement on current trading from Numis (NUM) shows just why FinnCrap rushed to get its own IPO away and why it should be avoided like the plague.

Tom Winnifrith Bearcast: Might Chris "Three Brains" Bailey be wrong about Thomas Cook? Are the shares really worth only 12p?

Published 173 days ago

I start with the news about the olive harvest. When you get the full financial report you will laugh. I almost did. I am almost tempted to get Neil Woodford to invest in it. Then I discuss Thomas Cook (TCG), Audioboom (BUST) and Tekmar (TGP), another disastrous IPO on the AIM Casino. I also discuss the battle between the metropolitan elites and the rest of us ref. France, but also the UK and Brexit.

Imaginatik – another placing and a contract, but one to watch?

Published 173 days ago

AIM-listed former Rob Terry favouorite busted flush Imaginatik (IMTK) yesterday announced another placing, following hard on the heels of the last bailout and oversubscribed open offer of last month. I was very critical of the previous fundraise because is still, as far as I could see, left the company on the edge of insolvency. But with anther £250,000 in the kitty – and a contract also announced yesterday, is it time to change my stance of keep well away?

Minoan - £525k placing, and £250k of liabilities settled at 2.5p. Call me mad, but....

Published 174 days ago

Well, we all knew that AIM-listed Minoan (MIN) was going to place as it told us so when the sale of the travel and leisure division was announced. The issue price of 2.5p is disappointing in the wake of the share price when the T&L sale was announced, but does not look so bad in the context of a share price on its knees at around 2.25p early last week. Be thankful for small mercies, then.

LAST 10 SEATS GOING: Meet & Quiz Nigel Wray, Sosandar, SkinBioTherapeutics and more on December 3rd: Book free seat now!

Published 175 days ago

There are now just ten seats left at the UK Investor Show team's next City forum which takes place on the evening of Monday 3rd December in the heart of the City of London at the headquarters of investment bank UBS. There’s mince pies, wine and canapes on offer but more importantly the event features presentations and a chance to quiz three growth companies: SkinBioTherapeutics, RiverFort Global Opportunities (formerly Paternoster Resources) and Sosandar. The evening ends with our own, Chris “Three Brains” Bailey, interviewing Britain's Buffett Nigel Wray.

Tom Winnifrith Bearcast: I have a fecking brilliant idea for Neil Woodford all I need is £3m and I've bought some shares

Published 176 days ago

Forgive the lack of copy on ShareProphets today and the tardy bearcast. All is explained. I look at Woodford's latest disaster, Kier (KIE) but have a corking business proposition for Neil. It just cannot fail, all I am seeking is £3 million for 20%. And I have bought shares in a company on AIM. You will think I am bonkers but let me explain why I have made a material investment.

Haydale – ANOTHER RNS Reach!! Pre bailout placing ramp in full swing!

Published 177 days ago

AIM-listed purveyor of all things graphene, Haydale (HAYD) has been on an RNS Reach-fest, the latest of which came this morning. Of course, RNS Reach announcement are by definition immaterial and are best viewed as free advertising. But the market has bought into the ramp and the shares are markedly up on the 12p low point they reached when it emerged – along with proft warning No. 3 in six months – that Haydale had been unable to raise loan finance it had planned to. The stock is now up at 36.5p – still a long way down from the 78p at which I wrote about the company last June.

Ariana – more exploration results from Salinbas, still a buy

Published 178 days ago

Turkish gold miner, AIM-listed Ariana Resources (AAU) has offered up an update on its exploration at the Salinbas gold project in Eastern Turkey this morning. My view has been unchanged, that the Kiziltepe plant was the reason to hold the shares but that Salinbas  - already with a resource inventory of c. 1 million ounces of gold-equivalent – was an interesting speculative bonus. This morning’s news adds to the interest. Eventually, I hope, it will be proved up as a commercial project and add good value.

Turkish gold miner Ariana at 1.4p worth 2.82p – Panmure Gordon

Published 178 days ago

Panmure Gordon is house broker to AIM-listed Turkish gold miner Ariana Resources (AAU) and is therefore not impartial – so you can takes its latest musings on Ariana with a pinch of salt if you wish. However, with the shares at 1.4p Panmure has upped its price target from 2.75p to 2.82p in the wake of Ariana’s Q3 numbers. Naturally, with a boat-load of this stock myself (so I'm not impartial either) and a target of at least 2p, I think Panmure are complete geniuses...

Xeros Technology – Cynical Bear was right about this Neil Woodford Dog!

Published 180 days ago

Another day, another Woodford disaster story hits the headlines – this time in the form of AIM-listed Xeros Technology (XSG), which Cynical Bear had postulated would be this year’s RM2 disaster. Well, it’s run out of money again and guess who’s footing the bill (with other people’s money)?

RM2 – All hail Cynical Bear as Woodford bails it out yet again (until April)

Published 181 days ago

On Friday afternoon, as the city returned from lunch ready to wrap up for the weekend, AIM-listed RM2 (RM2) announced a share capital restructuring, placing and notice of EGM. Roll back the clock to 14 September when, in the wake of yet another set of dire results, Cynical Bear told us  it’s time to place your bets as to whether Mr Woodford is going to throw another $17 million in to the pot. Suffice to say he is now Cynical Mystic Meg…..

Purplebricks – purple faces at Woodford

Published 182 days ago

ShareProphets has been very wary of AIM-listed Purplebricks (PURP) ever since its IPO at the end of 2015. The business model looks questionable, given the state of the UK and global housing markets, and there has been plenty of controversy over its business practices of suppressing criticism. Add to that the persistent offloading of stock by insiders and one really wonders how well this disruptor will perform. But Neil Woodford has been buying like the shares are going out of fashion…which they are!

Five slam-dunk sells for 2018 – November update and change of stance on one share

Published 183 days ago

My little portfolio of shares to dump for this year has shown some surprising resilience through the year. Of course it has always been down but some of the shares seem to be propped up in the same way a cartoon characted runs off the edge of a cliff but doesn’t fall until he looks down. But I suspect the wheels may be about to come off in some cases before year-end, and in one case imminently.

Sosandar – I might be in a minority of one, but….

Published 183 days ago

I think we all agree that AIM-listed Sosandar (SOS) is a “good” rather than a “bad” company here on ShareProphets, it is just the valuation which some (quite understandably) question. The company filed its interims on Wednesday and I have to say that overall I was pretty pleased, although the cashburn might be a worry.

Sabien -99.7% value destruction since IPO, another bailout placing, it won’t be the last

Published 184 days ago

Oh dear! Bad news from the boiler room. In this case I refer not to the offices of Peterhouse Corporate Finance, broker to this dog but to Sabien (SNT) itself, yet another company that planned to revolutionise the world of boilers when it raised money at 52p and listed in December 2006. Today’s latest bailout placing is at 0.1p and the owners of the 400 million pieces of confetti issued will end up owning 64% of the enlarged equity. More dilution vicar? It will not be the last.

Tern – attempts to calm with Portfolio Update…..shares down 8% and here's why

Published 185 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) has seen its share price slipping sharply since they peaked in mid-June at 58p. What better way to reassure the market than with a Portfolio Update? That’ll help….or not: the shares are 10% down today, at just 13.5p. I’m sure the placees at 26p in July will be delighted….

Filthy Forty Walcom – profit warning, defaulting customer still not paying, discussions with lender. Uh-oh…..

Published 185 days ago

Yesterday ShareProphets AIM-China Filthy Forty member (one of only 7 remaining) Walcom (WALG) updated the market on its efforts to get its largest customer to pay its bills. Bad news there, as was the accompanying profit warning, repayments of borrowings, discussions with lender and the final coup de grace: ….the Company may be in a position where it is unable to settle its liabilities as and when they fall due. What’s not to like!

PhotonStar LED = PhotonStop RIP

Published 187 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.

Haydale – another RNS Reach, no numbers. Desperate stuff

Published 188 days ago

AIM-listed and almost out of cash Haydale (HAYD) has issued yet another RNS Reach, this time to tell us that it has signed an exclusive deal with TKS Siampress Management for an anti-counterfeiting product. Whoopie doo – but there are, predictably, no numbers offered. And an RNS Reach is for news which is, effectively, not material.

Imaginatik – H1 results show what a dog’s breakfast it was, but fundraising to complete still leaves it technically insolvent. Shocking.

Published 188 days ago

AIM-listed former Rob Terry favourite Imaginatek (IMTK) published its half year results to the end of September this morning – what a dog’s breakfast! Of course, the majority of the period was under the old management so as much as I would like to point the finger at new CEO Angus Forrest, that would be grossly unfair. Indeed, judging by the balance sheet he’s done very well to have kept the grim reaper at bay – and he nearly pulled off a dream proposal to bring the very saintly Vin Murria in….but that fell apart. The shares as I write are up just 10% at 1.375p in the middle, having peaked earlier in the day at 2.25p in an initial burst of enthusiasm. It looks to me like the market has taken fright at the balance sheet.

Karelian Diamonds FY18 numbers: on death watch too, very bad read across for Conroy Gold

Published 190 days ago

Yesterday it was the turn of AIM-listed Conroy Gold and Natural Resources (CGNR) to show that it is one tiny little centipede step from insolvency. Today sister company, AIM-listed Karelian Diamonds (KDR) took advantage of a good day to bury bad news and followed suit – and my conclusion is the same. Indeed, for Conroy Gold there is another worry here which could bring its life to an early termination. My view is that both are stand-out sells and here is why...

Conroy Gold – FY results…..balance sheet a shambles, the end is surely nigh: SELL

Published 191 days ago

AIM-listed Conroy Gold and Natural Resources (CGNR) offered up its FY results to May y31 esterday morning. There was plenty of blarney, of course, but the bottom line is that the balance sheet is in a mess – it needs yet another mega-placing PDQ to keep the lights on, and I don’t think it will get it away. Oh, and  NED, Dr Karl Keegan, is stepping down after just 15 months in the job. In short, the end appears to be nigh.

Woodford’s dog days continue – no Sleep this Eve!

Published 192 days ago

I always thought that mattresses were all about getting a good night’s sleep. Thank goodness I didn’t follow Neil Woodford into (now) AIM-listed Eve Sleep, paying up to 150p a share for 30% of the business and now facing another cash call with the shares down at just 15p!

Haydale – paid-for researcher Hardman issues another (suicide) note

Published 194 days ago

As covered here on ShareProphets many times, AIM-listed Haydale (HAYD) is in deep trouble as finally admitted last Friday. I’ve been saying sell all the way down from 78p in June of this year and the shares plunged to just 13.5p on Friday – after the company warned it was short of cash and offered, effectively, yet another profit warning (the third in three months). Last night the shares were 12.25p and Hardman, which ramped the shares after hours in September only to see the shares fall in response the next day, has had another go. It is laughable.

Ariana – Q3 results from Kiziltepe: still a buy as big cashflow edges closer

Published 195 days ago

Last month we had the Q3 preliminary report from Kiziltepe and this morning AIM-listed Turkish gold producer and explorer Ariana (AAU) offered up fuller numbers on operations at Kiziltepe where Ariana has a half-share in the gold production for the Red Rabbit project in Turkey. We already knew they’d had a blow-out of a quarter (see HERE) but the numbers show just how well it is going.

Bowleven – tip update and FY18 numbers: BUY.

Published 196 days ago

AIM-listed Bowleven (BLVN) was one of two ideas from me in the ShareProphets share tip-fest last Christmas. The hope had been to see some corporate action before the end of the year as the Etinde project saw appraisal drilling and the JV partners wanted to move things on. Well we had the drilling, the shares went up and I top-sliced. So far so good.

Red Flags at Night: Arricano announces resignation of Smith & Williamson as Nomad after hours on Friday - SELL

Published 196 days ago

In August it was announced that Cenkos was buying the Nomad operations of Smith and Williamson, with completion expected in November after due diligence had been done on Smith & Williamson’s Nomad clients. On Friday, at no-one-is-watching o’clock (natch – 6.09pm!!) AIM-listed Arricano Real Estate (ARO) announced that Smith & Williamson had served notice that it would resign on 23 November 2018. Talk about Red Flags at Night!

Tom Winnifrith Bearcast - we have just bought just under 0.5% of an AIM listed company

Published 200 days ago

In today's podcast I look at the US mid-terms and why they should make you bet heavily on #Trump2020. I look at Cabot Energy (CAB), Totally (TLY) in great detail at JD Wetherspoon (JDW) at why Persimmon (PSN) fired the wrong man in Jeff Fairburn and I reveal which AIM company we have just bought circa half a per cent of and exactly why. Don't laugh Wildes.

Marcus Stuttard, the world's worst regulator receives evidence of fraud at MySquar caption contest

Published 201 days ago

In October last year I presented thje AIM Regulation team headed by the man who ludicrously allowed himself to be dubbed the Sheriff of AIM, Mr Marcus Stuttard with slam dunk proof of massive fraud at MySquar (MYSQ). He did nothing. MySquar raised millions of pounds AFTER that from issuing shares which after today are now worthless as the fraud is laid bare. Mr Stuttard's failure to act has cost investors millions. And this is not his first lamentable failure. Is he the most useless regulator on this planet? Anyhow, he is pictured below after receiving my proof of fraud at MySquar last October. Please supply a suitable caption by midnight tonight in the comments section below.

AIM is dying: 10% annual attrition rate well in sight

Published 203 days ago

The London Stock Exchange has just published its October 2018 AIM Statistics bulletin and the figures are again shocking. AIM is down from 942 members last month to just 928 now – and with Northland set to lose its Nomad license in a few days’ time that number is going to fall further as yet more companies have to search out a new Nomad that might not want them on their books.

The Northland meltdown – 28 stocks that could get slung off AIM

Published 204 days ago

Northland yesterday ‘fessed up that it would be surrendering its Nomad license on 1st February. If you think that this “surrender” is a voluntary act you are the sort of person Nigerian Generals dream of adding to their email list. So 28 clients need to find a new Nomad to take them on and complete due diligence PDQ as DD takes a while and the Christmas holidays beckon. No new Nomad and the companies below will be slung off AIM.

Tern – another £1.1 million to FundamentalVR…..when’s the next placing?

Published 207 days ago

Having previously calculated that AIM-listed Tern plc (TERN) will be out of cash by next June – even taking the £2.9 million placing at 26p in July into account, now the investment company has splurged another £1.1 million on its latest investment, FundamentalVR. Will Tern even make the current year-end before running out of cash?

Scancell – FDA throws a spanner into the works//but!

Published 208 days ago

AIM-listed immunotherapy cancer specialist Scancell (SCLP) announced last week that the FDA had posed a few questions regarding its application to run a Phase II combination trial for its SCIB-1 skin cancer compound alongside a checkpoint inhibitor. The market saw this as bad news, and marked the shares down heavily – but I’m not so sure it is all that serious.

The UK Audit industry is in crisis – time for the FRC to act

Published 211 days ago

Many years ago the appearance of the company’s auditors on site would send shock-waves through the work-force. Everyone would do absolutely everything by the book and mind their Ps and Qs – and breathe a sigh of relief when the bean-counters departed the scene, according to my late mum who spent a youthful period out of school working for Guinnesses in Dublin.   

Five Slam-dunk sells for 2018 – October update

Published 211 days ago

And so another month has slipped by and it is time for another update on my five to sell – or just steer a very wide berth around. Last month the average loss amongst AIM-listed Telit (TCM), Inspirit (INSP), Catanae (CTEA, formerly Milestone Group, MSG), Frontera Resources (FRR) and UK Oil and Gas (UKOG) was sitting at 17.4%. But we’ve had a bit of a sell-off……

Imaginatik – new Nomad (well done!), placing at just 1.1p, death spiral and open offer

Published 211 days ago

AIM-listed Imaginatik (IMTK) has beaten the odds and signed up a new Nomad to replace FinnCap which slipped out of the back door a month ago. Good news – and on deadline day too. And so WH Ireland steps up to the plate. We also learnt that the company got a placing away – at just 1.1p, plans an Open Offer and has signed up for a death spiral toboot. Great stuff – but I won’t be interested for now and here is why.

Patisserie Holdings – winding up petition thrown out, but…..

Published 213 days ago

A marginally less bad day today for AIM-listed Patisserie Holdings (CAKE), owners of Patisserie Valerie in that there was good news in with the bad as announced just before 9am this morning. The good news is that a winding up petition against its main trading subsidiary, Stonebeach Ltd, has been thrown out. Good news: no trip to the insolvency shop, then. As for the bad news, it is a relatively small matter but perhaps tells us what may have been going on.

Fuck Yu! Shares crash 80% as accounting review commences. Uh oh….. surely this is another £12m of AIM fraud?

Published 213 days ago

AIM-listed Yu Group (YU.) only joined the Casino back in March 2016, via a placing at 185p. Since then it has been a one-way street for shareholders, with the stock rising to a peak of over £14 in March of this year. And then the Finance Director resigned…..

MySquar – update on the fraud case Disgraced Nomad SP Angel thinks you had no right to know about

Published 213 days ago

The founder, until two weeks ago CEO,and sole plate spinner for the fraud MySquar (MYSQ) was Eric Schaer. We know that MySquar lied repeatedly to its mug investors and committed securities fraud so the fact that Schaer stands accused of another $8.5 million fraud is something disgraced ninth rate Nomad SP Angel should have advised us about via RNS. Natch it turned a blind eye. So how’s the case going and why does it matter to the poltroons who still own this stock.

ShareProphets China AIM 'Filthy Forty' performance update – October & the results season wasn't pretty

Published 214 days ago

Following a corporate results season, here's a October ShareProphets China AIM 'Filthy Forty' performance update...

Purplebricks & Neil Woodford– good to see a man of conviction

Published 215 days ago

I noted the other day that Neil Woodford seems to have been on a bit of a selling spree, having dumped shares in our Big Short BCA Marketplace (BCA) and more recently in Hostelworld (HSW), Forterra (FORT), Horizon Discovery (HZD) and Homeserve (HSV). But I see that the great man has been topping up his holding in Purplebricks (PURP).

Conroy Gold – “New Gold Outcrop Discovery”: more about getting the next placing away than shareholder value?

Published 215 days ago

AIM-listed Conroy Gold and Natural Resources (CGNR) has announced a new gold outcrop discovery in Ireland, between its Clontibret gold deposit and the Corcaskea gold target. So will this discovery transform the company’s prospects, or – bearing in mind that it has to report year-end results to May of this year by the end of next month – does this news mark the beginning of a pre-placing ramp?

Lionsgold slung off AIM - what does it mean for shareholders?

Published 217 days ago

I would imagine that most Lionsgold (LION) holders were somewhat less than impressed when news came at the end of last week that its shares were being cancelled.

Podcast Evidence: Is James Parsons of Sound Energy the most shameless ramper on AIM

Published 218 days ago

I accept that there is stiff competition for the title of the most shameless ramper on AIM. But could James Parsons of Sound Energy (SOU) claim the title? I bring you a podcast below which is almost sordid. Sound is apparently a low risk ten bagger. Whatever.  Parsons has a devoted following of Bulletin Board Morons who will, no doubt, lap it all up. At 38.7p the market cap is £407 million which is even more of a rum and coke than the podcast below.

Bowleven – drilling news, Waseem Shakoor frustrated (me too!)

Published 219 days ago

AIM-listed Bowleven (BLVN) has announced a drilling update from Etinde this morning and oh dear, the second drill, IE-4, of the two-well programme seems not to have had a nice tasty big strike. But there is some good news in there and although one could have a slightly cynical read of the text (ala UK Oil & Gas, UKOG) I don’t perceive any need for Bowleven to ramp its shares: it has piles of cash, don’t forget.

Imaginatik – update on trading and Nomad: rock or hard place?

Published 219 days ago

AIM-listed Vin Murria-reject and currently suspended (it hasn’t got a Nomad) Imaginatik (IMTK) has updated the market this morning on how things are going as it searches for a new Nomad and a new business.

Breaking: Disgraced Nomad SP Angel taking over Northland in rescue "merger"

Published 220 days ago

Disgraced Nomad SP Angel has clearly made enough money from acting for frauds like MySquar (MYSQ), and overlooking blatant criminal actions there, that it can afford to ride to the rescue of its weaker brethren. The word on the street is that Northland Securities is set to announce it has been bailed out by MySquar's nomad.

Ariana – more exploration results from Salinbas: still a buy

Published 220 days ago

AIM-listed Turkish gold miner Ariana (AAU) has this morning updated the market on exploration from Salinbas – part of the Hot Gold Corridor in Eastern Turkey. Having reaffirmed my view that this stock is a buy based on production news the other side of the country, it is pleasing to see share shares respond even if it is this morning’s news which did the trick, rather than my devilish analysis! The shares, having been 1.25p to buy, are now 1.45p to buy...

CEO of Fishing Republic lasts minus 1 days before company goes bust is that a record?

Published 221 days ago

On 27th September the joke company Fishing Republic (FISH) announced that it was “pleased to announce the appointment of Daniel Quinn to the Board as its new Chief Executive Officer, with effect from 17 October 2018.” Today, 16th October the company fessed up that it was bust. No need to clear your desk Danny Boy, in fact no need to buy cakes for the staff on your first day at work tomorrow. At least your CV won't need much touching up. Is this a record: Minus 1 days from appointment to an AIM tits up?

Crack out the ouzo Fishing Republic goes tits up

Published 221 days ago

Just when The Sheriff thought the coast was clear to jump on a train to the big smoke, AIM-listed (pro tem, at any rate) Fishing Republic (FISH) saw its shares suspended by AIM at 1.20pm pending an announcement. Uh-oh! But it gets worse and I fancy The Sheriff is set to enjoy an extra ouzo tonight after taking Dominic Frisby, Premaitha and Falanx apart.

Ariana Resources – gold production hits a new high: BUY

Published 222 days ago

AIM-listed Turkish gold miner Ariana Resources (AAU) has again announced record gold production from its joint-venture Kiziltepe plant, part of the Red Rabbit project, during its third quarter this year. Production is up to 7,588 ounces of gold (plus 70,346 oz of silver) for Q3 to bring the total for the year so far to 19,625 oz – as against the guidance of 20,000 oz for the full year. Way to go! If they keep that up, the total for the year will be in excess of 27,000 oz – a classic case of underpromising and overdelivering.

Frontera clarifies that it could be a zero but the stupidest investors on planet earth somehow see this as good news

Published 223 days ago

Frontera Resources (FRR) has been forced to issue a clarification statement about the Cayman Islands legal case that could see it lose all its assets and go to zero. I suspect AIM is forcing its hand here, concerned that the stupidest shareholder list on this planet are just not getting the message.

Haydale – gets a grant, shares race ahead 21%. A good opportunity to get out!

Published 225 days ago

AIM-listed Haydale (HAYD) has announced that it has got a grant of £120,000 from a package worth £249,600 and the shares have raced ahead by 21% to 32p. Of course, the RNS announcing the funding was an RNS reach and therefore does not affect the dire financial position of the company, which I fear may be doomed. Shareholders would be well advised to look skywards in gratitude and view the rise as a welcome opportunity to exit.

AIM Focus: Broker and Tipster Sentiment

Published 225 days ago

It’s been an eventful week on AIM. Patisserie Holdings’ (CAKE) announcement of “significant, and potential fraudulent, accounting irregularities” on Wednesday blindsided the investment community. Urals Energy (UEN) is comparatively smaller, but the company’s discovery of an unauthorised loan made with its funds – meaning the firms “working capital position will be significantly constrained” – brought some more unwanted bad press; UEN shares slid 31.3% since the announcement. With AIM firms making the news, we take at the current state of broker and tipster sentiment towards AIM over the last 30 days.

Veltyco – CEO “resigns” J’accuse

Published 226 days ago

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.

Sosandar – a pissed-off bull speaks!

Published 226 days ago

I continue to hold a small parcel of shares in AIM-listed Sosandar. I had been hoping to offload a few more at 50p but in the wake of a placing at 32p and the market sell-off that seems somewhat optimistic for some time to come. Tom Winnifrith sold all his shares some time ago and has commented on the update from the company and the placing at 32p HERE and HERE. So I thought I would throw my 2p worth in as well.

Advanced Oncotherapy – when’s the placing?

Published 227 days ago

Shares in AIM-listed Advanced Oncotherapy are up by 30% today on the back of yet another technological update and a Flash Note from its paid-for research ramper-in-chief GPSL, the second in less than a week. Of course, yesterday the shares were down by around the same amount which all leaves me wondering when’s the placing?

Tom Winnifrith Bearcast: Luke Johnson's Cake and the (is it £20m) fraud, a few thoughts

Published 227 days ago

In today's bearcast I start with a look at Patisserie Holdings (CAKE) run by my pal Luke Johnson and I discuss the nature of fraud. I look at Sosandar (SOS) again and get really very angry (warning bad language alert), at FastJet (FJET), Telford Homes (TEF) and the folly of Government policy, Online Blockchain (OBC), and at Urals Energy (UEN) and the folly of the AIM Cesspit.

Tom Winnifrith Bearcast - Versarien is 11p away

Published 228 days ago

In today's bearcast I look at the idea of a bear market on AIM, Cenkos (CNKS) as its CEO walks (again), Versarien (VRS), Plutus Powergen (PPG), First Derivatives(FDP), Mysquar (FRAUD), Mayan (MYN) and Wolfe Minerals (WLFE). Due to a bit of a mix-up there are a newly available handful of tickets to next week's wine, canapes, Falanx (FLX) and Premaitha (NIPT) evening in London with me ripping Dominic Frisby apart on blockchain and bitcoin as a bonus. To grab your seat for 16 October book HERE

MySquar – the fraud is now unravelling fast, the money's almost gone - target 0p

Published 228 days ago

This morning I have been berated on twitter by a self proclaimed “AIM expert” who reckons that MySquar (MYSQ) is the next big thing. I can only assume he is a stale bull desperate to get out as this fraud is unravelling apace. Wind back to last Friday at 4.30 PM, no-one is watching O Clock, when the company served up a trading statement.

AIM- still sliding towards a bear market

Published 229 days ago

Statistics released for the month of September by the London Stock Exchange show that AIM is still contracting. When I wrote about this last month, AIM was already at its lowest ebb since 2004 and the latest numbers suggest that the decline is still ongoing.

Tern - Shocking Device Authority FY17 accounts released

Published 229 days ago

AIM-listed IoT investment company Tern (TERN) has seen its shares dropping again, despite the calls to Tom Winnifrith saying how shorts are being called in. That might put an upward pressure on the stock, but there is plenty down pressure too – and that includes today’s unaudited and abridged accounts for FY17 from principal investee Device Authority.

Minoan – Updates on GM (to dispose of travel) day

Published 229 days ago

AIM-listed Minoan (MIN) has updated the market on its Greek resort in Crete, Cavo Sidero, on the day of its general meeting at which it hopes to gain approval for the disposal of its travel and leisure division. There are some indications of some good news to come, but this morning’s statement reads pretty defensively as those shareholders turning up to the GM prepare to cast their votes.

Haydale – shares tanking again. When's the placing (if you can)?

Published 232 days ago

I can’t help but notice that shares in AIM-listed Haydale have been on the slide once more. Today they are off by another 13.2% - I wonder if the company wants to issue a statement as to the reason why? Na….thought not. Well, just to help out Haydale (‘cos we are such nice guys)…..

Big Sofa – collapseroonie: Cynical Bear was right all along & I was wrong

Published 236 days ago

Like Tom Winnifrith I am licking my wounds, after AIM-listed Big Sofa (BST) announced awful interims (after the deadline, but escaped being suspended by releasing the numbers first thing this morning before AIM announced today’s suspensions) and a placing so heavily discounted that it made the interims look like the company had won the lottery. It has been a bad couple of weeks. Having been keen I suggested that readers pile in when IPSOS bought at a big premium yet the shares hardly moved. If it looks too good to be true…..lesson learnt.

5 Slam-Dunk sells for 2018 – September update

Published 237 days ago

Another month has passed, so it is time for another look at my portfolio of AIM stocks which I marked as slam-dunk sells at the beginning of the year. The five in question are UK Oil & Gas (UKOG), Frontera Resources (FRR), Telit (TCM), Inspirit Energy (INSP) and Catanae Innovation (CTEA), formerly Milestone Group. At the last count the portfolio was down by 22% - what is the score now?

KERBOOM, KERPOW! Origo Interims part 2 – hero Chapman rightly blasts the old regime again

Published 237 days ago

In part 1 of this expose we saw that the new board of AIM-listed Origo (OPP) had spent time getting to grips with the trainwreck of a company left behind by previous management. New chairman, John Chapman was not mincing his words as he told us that company records were missing, such as the due diligence and investment rationale for the company’s investments – as were some of the investments, “expenses” had been paid to someone who left the scene four years ago and that the old guard  including its Nomad had been understandably reluctant to hand over the keys. Now let’s look at some of Origo’s portfolio.

Move over Mystic Meg, all hail Canaccord!

Published 237 days ago

As avid readers of ShareProphets will know, we have been bearish on Imaginatik (IMTK) for ever – firstly for being a duff business, secondly for being a Rob Terry of Quindell infamy stock market darling and more recently because it was going to run out of cash. Despite all that, we almost tipped it as a short term play when the saintly Vin Murria was announced to be considering getting involved but were scared off big time by the share price reaction (the stock shot through the roof) and advised many times that readers give it a wide berth, partly because they would be over-paying and partly because Vin Murria could walk.

Haydale: now a director is selling - follow the lead

Published 237 days ago

Yesterday afternoon while the city was tuning in to the Ryder Cup, AIM-listed Haydale (HAYD) released an RNS announcing the sale of 38,233 shares (about 7.7% of his holding) by director Ray Gibbs – the CEO who announced his intention to step down in June on the back of a profit warning – on 26th September, the day before Hardman issued its after-hours ramptastic buy note.

KERBOOM!!! KERPOW!!! MAJOR AIM SCANDAL: hero Chairman John Chapman blows the lid on previous board and advisers at Origo – part 1

Published 238 days ago

I commented back in June, when ShareProphets AIM-China Filthy Forty investment company Origo Partners (OPP) announced its FY17 results that I underestimated the new board of Origo after new Chairman John Chapman tore into the investments made under the old board and advisers. Yesterday, as Origo got its interims out on deadline day, John Chapman tore into the old crew even more. The attack (totally justified, in my humble opinion) is astonishing – no “old school tie” behaviour here, it is utterly devastating. Mind you, given that the (now former) investment adviser had coined it to the tune of $31 million in performance payments by the end of 2014, and now Origo’s shareholders have just $13.6 million to share between them (as opposed to $81 million as at June 2017) with no dividends one has to think Mr Chapman has a point. Will AIM Regulation act? (Don’t laugh too loud….)

Ariana – interims show continued improvement: BUY

Published 239 days ago

AIM-listed gold miner Ariana (AAU) left it until deadline day to produce its interims results (boo, hiss) but the numbers and statement offer plenty to cheer shareholders. For starters, the joint venture gold plant at Kizitepe clocked up £1.1 million of profits for Ariana in the six months to June, which compares well to the £1.8 million for the whole of 2017, and gold production for the half-year (annual target 20,000 oz) came in at over 12,000 oz and a statement that second half production is expected to exceed initial expectations. So far, so good. Of course, profit is a matter of opinion….let’s look at the balance sheet and cashflow.

Haydale – ramped after hours by Hardman, it didn’t work…..SELL

Published 241 days ago

Yesterday at 5.20pm – no-one-is-watching o’clock – paid-for research house put out some piffle about AIM-listed Haydale (HAYD). The shares are attractively valued compared with their peer group, on P/NAV and EV/sales, and also on a DCF basis don’cha know. Well, maybe – apart from the fact it is loss-making, going to run out of cash and the last placing was at a 32% discount! If the company thought that would get a lift in the share price, I’ve got bad news….

Imaginatik – Saintly Vin Murria walks, Nomad resigns, grab your crisps now

Published 242 days ago

AIM-listed former rob Terry darling Imaginatik (IMTK) has announced that the deal to bring in Vin Murria is all off.  The Nomad, finnCap, is – as it promised it would – resigning as from the end of today and the shares have collapsed by (so far) 76%. What’s not to like?

Goaded by ShareProphets, Draganfly issues a statement re cancellation of listing

Published 242 days ago

Yesterday at 9.33 am ShareProphets published our criticism of (formerly) AIM-listed Draganfly, which hadn’t bothered to update investors since July and whose shares were cancelled from the Casino yesterday morning. So much for the RTO and associated due diligence process which was well advanced in July! The cancellation was announced by AIM at 7am, yet it took until 10.44 for Draganfly to issue a statement. Why?

Rurelec – another warning from Argentina, working capital “severely constrained” (again…)

Published 243 days ago

AIM-listed Rurelec (RUR) has again warned that cash is extremely tight and income isn’t flowing in from Argentina. Well, we’ve heard it all before so many times and yet the company continues to survive (so far) but eventually there may come a day when it cannot.

Filthy Forty – China New Energy delivers interims, Look at the balance sheet - Bargepole stock

Published 243 days ago

AIM-listed China New Energy (CNEL) of the ShareProphets AIM-China Filthy Forty has this morning delivered its interims ahead of Friday’s deadline. So no pending execution here, then! Chairman Yu Weijun tells us that he is very pleased to report that the Company's continued revenue growth and profitability……The company has a current order book and work in progress of RMB 294 million (c. £34m) to be fulfilled by December 2019, and I am confident that the business outlook is for continued profitability. Well, that’s great news. Of course, there are a few questions to be raised, though….

Bye-bye Draganfly - another stink the AIM Casino does not want you asking questions about

Published 244 days ago

Shareholders in (now formerly) AIM-listed Draganfly (DRG) were treated this morning to news that the company has been given the AIM-Casino heave-ho as of 7am. Of course, ShareProphets readers were warned two years ago and twice more since that this run’n’coke was one for the asbestos suit and a very long bargepole – see HERE, HERE and HERE.  I guess an ouzo is in order….

Tern – conference call answers questions? No, but it was a sell note

Published 244 days ago

So hats off to AIM-listed Tern (TERN) boss Al Sisto for answering my two questions. At least, that’s what we are to believe but having waved goodbye to almost an hour of my life listening to the Q&A call the message was clear: we will release news in accordance with AIM Rules. To be fair, one of my two questions made the cut and sort of got an answer, but not one that sheds any light on the situation. The other, well….maybe next time. And then there was, effectively, a sell note from Mr Sisto!

Filthy Forty – results deadline looms, will there be yet more casualties?

Published 246 days ago

Since there are now just seven companies remaining of the original forty, and with the end of September coming up I thought it high time to have a gander across the remains of the ShareProphets AIM-China Filthy Forty.

SP Angel’s Zac Phillips wrong on Frontera as it prepares for another lie-fest on October 4

Published 248 days ago

As it tries to stop its share price collapsing ahead of its much needed bailout refinancing, Frontera Resources (FRR) has announced another lie-fest, or as it terms it “shareholder update meeting followed by Q&A” on October 4. The City’s top oil analyst Zac Phillips of SP Angel is damning on this POS in his morning email but gets it 100% wrong when he says there is “Only 1 question.”

Minoan – the good, the bad and the ugly.

Published 248 days ago

AIM-listed Minoan (MIN) has this morning finally announced the sale of its travel and leisure business. Hooray – that only took nine months! In many ways the deal is perhaps  a bit better than I had feared, in terms of dilution (the good), but the end result will be that Minoan is still left with £0.9 million of debt (the bad) and with the warrants associated with the loan now dropped to just 3.5p exercise the shares are off by a whopping 30% to just 3.9p and the company tells us it will have to raise more cash (the ugly). 

Sosandar – AGM statement offers no numbers but plenty of encouragement

Published 248 days ago

AIM-listed online ladies clothing purveyor Sosandar (SOS) had its AGM today and offered a few nuggets of information which suggest that things are pretty much on track with management expectations. Since we already know that management is “very comfortable” with the forecast numbers offered by house broker Shore Capital (I would translate that as meaning easy to beat!) and we know those numbers (see HERE). So that looks pretty positive. Mind you, we were not offered actual numbers for summer trading as the Adam Reynolds computer keyboard struck again!

Haydale FY18 results: survives going concern (just) but a placing is only a matter of time: Avoid.

Published 249 days ago

Shares in AIM-listed graphene play Haydale (HAYD) are off again to 44p (mid, last seen) following full year results to June this morning. Following a profit warning in June, when I said this was a bargepole stock at 78p and suggested that we were in for a £6 million loss before tax, cash would be down to around £5 million at year-end and another big cash-call was on the way, let’s see how my Mystic Meg powers are holding up……

Tern – Interim car-crash: SELL

Published 250 days ago

AIM listed jam-tomorrow (or the day after) IoT investment company Tern (TERN) has released its interims to June 2018 and despite the polishing of things unmentionable they show what a car-crash had been – and still is - going on.

Minoan – could it be news this week? We can hope so!

Published 251 days ago

A flurry of activity last week saw shares in AIM-listed Minoan (MIN) propelled from 5p to almost 6p, with bulk of the rise on Friday. We know that news on the sale of the travel and leisure business is expected “imminently” and that news on the Cavo Sidero project in Crete could come soon. So does the market know something?

Tern – more cash to bottomless pit Device Authority

Published 254 days ago

AIM-listed jam-tomorrow investment company Tern (TERN) has announced, as predicted HERE, yet another loan to its principal investee company, Device Authority (DA) – this time for $525,000 (around £400,000) which, we are told, is repayable on 31 December 2018 or convertible into shares if DA ever gets a fundraising away.

Sosandar – in two minds as we approach the AGM

Published 255 days ago

Shareholders in AIM-listed Adam Reynolds stable Sosandar (SOS) have an AGM to look forward to next Tuesday, and I am very hopeful that a trading update will accompany proceedings. At the last count the company reported quarter on quarter growth of 70-odd percent – a remarkable achievement, even for a near start-up. The market is clearly hoping for more of the same, although I’m not sure that rate of growth will have been repeated over the summer holidays. But it has been growing like mad – and we loyal shareholders have done very well.

TrakM8 AGM – another day another profits warning on the way

Published 256 days ago

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.

Haydale – batten down the hatches: discounted placing imminent!

Published 256 days ago

AIM-listed graphene play Haydale (HAYD) announced a Contract Updates % Notice of Results RNS this morning. Don’t be fooled: there’s a placing coming and the updates are a tad over-dressed to help.

Tom Winnifrith Bonus Bearcast: More shameless ramping & sordid Leni-maths from Horse Hill & UK Oil & Gas - the real numbers don't stack up

Published 257 days ago

Below you will find shameless ramping on twitter from David Lenigas and also a link to BMD's take on the latest shameful RNS from UK Oil & Gas (UKOG) on the "Gatwick Gusher." The language used in the RNS is misleading and what is served up offers no evidence at all that the shares are not grotesquely over-valued. Only a sordid festering boil on the side of AIM such as Nomad Roland "fatty" Cornish could have signed off on this tripe. There is lso a clear signal of m ore discount placings ahead with the appointment of bucket shop spivs Novum as co-broker. that means just one thing. All is explained in this bonus bearcast as I look at the real data offered not the Leni-maths.

ShareProphets China AIM 'Filthy Forty' performance update – September & will companies results be delivered in time?

Published 257 days ago

Following the latest Walcom – defaulting largest customer pays up….well £34k and now in a corporate results season, here's a September ShareProphets China AIM 'Filthy Forty' performance update...

Is AIM in a bear market?

Published 257 days ago

I see that another three AIM companies ended their membership of the Casino this morning, namely Dalradian Resources (DALR), Zamano (ZMNO) and Weatherly International (WTI). On the one hand I keep hearing how AIM is outperforming the main market (something of a turnaround, at long last – and for the cynical perhaps a sign that the bull run is coming to an end!) but I keep seeing departures. AIM may have outperformed the main market, but I wonder for how long given the mad exuberance of shareholders in the likes of Frontera (FRR), UK Oil and Gas (UKOG) and Tern (TERN). And, as I discovered this morning, the number of companies listed on AIM still seems to be falling away markedly.

Elon Musk's biggest fan in Greece updates his facebook page - crime does pay for Costis the Globo fraudster

Published 258 days ago

Elon Musk might be forgiven for thinking that few in the business community still love him. But he does have fans. Step forward Costis Papadimitrakopoulos the founder and CEO of Globo (GBO) which raised tens of millions of dollars in debt and via issuing shares on AIM and claimed to have net cash but er... did not. It was a fraud and Costis took stacks of that cash and also sold all his shares before the balloon went up after being tipped off by snot gobbler Dan McCrum of the FT. Anyhow Costis has been busy on facebook updating his profile last month as you can see below.

Tom Winnifrith Bearcast; Disgusted by Conroy I am appalled by the Archbishop of Canterbury

Published 261 days ago

I cover Conroy (CGNR) elsewhere but its the sort of seedy waste of space nonsense that makes me despair of AIM. And so i turn to a follower of JC, Archbishop Justin Welby. The JC I refer to is of course Jezza not Jesus. Welby's comments yesterday are so utterly wide of the mark, no wonder he leads a failing organisation.

Conroy Gold – Share Talk - sordid ramping at the bottom end of AIM

Published 261 days ago

Share Talk is a website that takes money from, usually, crap companies. It does not appear discerning. If you are a PLC with a cheque book come on down! It does not disclose its business model and it then provides what it terms “the Independent voice across social media” or what you and I would term sordid share ramping. Shares in Conroy Gold (CGNR) are up 30% today to 13p to sell thanks to such ramping. But before you get too carried away….

Trafalgar Property – full-year results: “well placed to deliver…”. Really?

Published 262 days ago

I last commented on AIM-listed Trafalgar Property Group (TRAF) back in July 2015, after it snuck out its results at 5.23pm on a Friday, announcing losses for its year to March 2015 but saying it was seeking a return to profitability in 2016 and 2017. So how has it done?

Sefton Resources – Jimmyliar Ellerton shares confiscated, yours may be forcibly bought back

Published 262 days ago

And you thought the pantomime was over… now unlisted and registered in the BVI the latest developments at Sefton Resources (SER) are, predictably amusing. When Sefton was booted off AIM it had 4.8 billion shares in issue. Until the other day it appears to have had almost 9 billion pieces of confetti in issue. But that is set to change.

Filthy Forty Walcom – defaulting largest customer pays up….well £34k (still £632k due, further £92k falling due)

Published 263 days ago

ShareProphets AIM-China Filthy Forty play Walcom (WALG) – one of just seven remaining – announced yesterday that its largest customer had at last ponied up some cash. But it is only to the tune of about £34,000. Against a further approx. £632,000 owed and overdue, and another approx. £92,000 falling due by mid-month, that is a drop in the ocean.

Tom Winnifrith Bearcast: Frontera, Andalas, Justin the fecking Clown, AIM really is a cesspit and I'm not sure I care anymore

Published 264 days ago

Heck: maybe it is time to give up this game and become a goat-herd here in Greece after all. I despair at today's AIM Cesspit antics involving market abuser Justin the Clown and his employers at Vox markets who appear not to care, Andalas (ADL) and Frontera (FRR) as they all mislead investors who appear happy to be duped and to lose money as the bandits prosper.

Frontera: ramp, ramp, rampety ramp. Where’s the $3m from the “unrelated institutional investor”?

Published 265 days ago

AIM-listed rampathon Frontera Resources (FRR) has announced yet another ramptastic update this morning. Apparently it has entered into Non-Disclosure and Data Exchange Agreements with two industry majors and is currently progressing with technical work and commercial discussions regarding possible transactions involving a farmout or joint operating arrangement within its Block 12 holdings in Georgia but discussions are at an early stage. Righty-ho. The market has gone bananas this morning, marking the shares up by as much at 34% - very handy, for Frontera needs to get a placing away pronto. But Waseem Shakoor has been wondering what happened to the $3 million funding?

Octagonal – questions for the company, Roland “Fatty” Cornish and the FCA?

Published 265 days ago

As Roland “Fatty” Cornish settles down to his Sunday Lunch, and considers what to do about the growing scandal at AIM-listed Andalas Energy (ADL) – a company to which he is Nomad – I have something else for him to chew on as he munches through his double helping of spotted dick with extra lashings of custard. It concerns another company to which he is Nomad, namely AIM-listed Octagonal (OCT). I gather he is well aware of what follows, but has he done anything?

Bowleven – Etinde IE-4 well spudded

Published 267 days ago

AIM-listed Bowleven (BLVN) had been making me look like a genius since I tipped in at Christmas at around 31p. The shares rattled all the way up to 40p as the first of two drills off Cameroon at the Etinde prospect commenced, only to collapse down as low as 27.5p when the drill failed. Yesterday the partners announced that the second drill had commenced. All of a sudden the shares are back up at 33.8p – not quite 40p, but a lot better that 27.5!

Minoan – Travel division sale news, reduced boardroom costs: it looks like it is all finally happening

Published 267 days ago

An update this morning from AIM-listed Minoan (MIN) regarding the sale of its travel and leisure division and reduced boardroom fees offers investors good hope that the sale is now, at long last, progressing. This is good news which I suspect will unlock the development of Minoan’s main asset – the Cavo Sidero project in Crete – and I am looking forward to the coming weeks with anticipation.

Sosandar – House Broker Shore slaps on a price target of 50p, but is it too low?

Published 268 days ago

Shore Capital is the recently appointed house broker (and Nomad) to AIM-listed online ladies wear outfit Sosandar (SOS) and is thus hardly going to publish a sell note. Last night it released a broker note which has dropped into my inbox, and it has slapped a “present fair value” price of 50p on the shares. Normally one might treat such notes with a bit of caution for over-egging the pudding – after all, this broker note tells us that it is a marketing communication and as such I would expect the best case scenario to be put. But in this case I wonder about that. Here is why...

Sosandar – share price going a bit mad, I’ve sold some more (but still have some)

Published 269 days ago

AIM-listed online ladies fashion wear start-up Sosandar (SOS) has seen its shares race even further ahead, as I predicted last week. At the weekend, with the shares a noggin below the 40p mark, I said it would be time to sell another tranche into what I expected would be a bit of a rally into the AGM when I would imagine a trading statement will be forthcoming. Today (thus far) the shares have clocked up yet another record high of 45.5p in the middle and I helped myself, selling a lump at 42.44p. But I am still holding over a third of my original holding.

Conroy Gold and Natural Resources – £0.5m placing at 13.75p; nowhere near enough

Published 270 days ago

AIM-listed Conroy Gold and Natural Resources (CGNR) has announced a placing at 13.75p to raise £0.5 million, boasting a 20 per cent premium to the market price. Well that’s fine and dandy – so why has the market not piled in behind the placees? The shares are up just one penny, leaving the stock at 12p to sell.

Ariana – weak gold, Turkey problems but still a buy

Published 271 days ago

AIM-listed Turkish gold producer Ariana (AAU) released the quarterly update of its Red Rabbit joint-venture at Kiziltepe a week and a half ago. We had already been told that gold production had shot the lights out, but the update filled in the detail and it was all good. Meanwhile the gold price has been sliding and Turkey is in some considerable bother which is not good. But on balance I reckon the shares are still a buy.  

Sosandar – is Tom Winnifrith “nutso” to sell out? Possibly, but it is time to sell another slice

Published 272 days ago

My piece on AIM-listed Sosandar (SOS) Friday seems to have sparked a bit of interest. Noting that the shares had closed at an all-time high and with the date of the AGM just announced (and presumably another trading update), I reckoned it was a strong hold with a view to selling a portion at 40p. The shares duly put on another 10%, causing a smile at Deputy Sheriff Towers, but Tom Winnifrith sold all his Sosandar shares. Meanwhile Thirsty Paul Scott thinks it is a “hold forever” stock. Who is right?

Five Slam-Dunk Sells for 2018 – August update

Published 273 days ago

It is time once again for the monthly update on my portfolio of slam-dunk sells for 2018. As the summer draws to a close, has the madness reported last month started to subside yet? Well, yes – the portfolio is off by around another 7% since the last update, but I fancy that as the city gets back to its desk next week, there is plenty more to come.

Live Company Group: I confess, I confess – lock me up!!

Published 274 days ago

I had a bit of a surprise when clearing my desk, but I have to confess a mortal sin. I had a few shares in AIM-listed Parallel Media Group (PAA) dating back to before ShareProphets was founded. To be kind, the shares didn’t exactly perform and I got rid of them. Or I thought I had.

Sosandar - looking good

Published 275 days ago

At the risk of upsetting retail-guru Thirsty Paul Scott who thinks it is bad for the share price if any expert other than he pontificates, I thought it was time to mention once again my hot tip of AIM-listed Sosandar (SOS) from the UK Investor Show earlier this year. Having offered favourable mention at 12.5p I tipped it at 13p, cashed in a slice at 27p and the shares closed last night at about 35p. It is all good news!

A Letter to AIM Regulation: Is SP Angel fit and proper to act as a Nomad (and should the FCA investigate it as well)

Published 275 days ago

Enough is enough. Yesterday John Meyer, a senior manager and large shareholder in SP Angel went onto Justin the Clown’s podcast to ramp corporate stocks such as Blue Jay Mining (JAY) without declaring an interest – his employer earns vast fees from Blue Jay as its Nomad and broker. But this is the least of SP Angel’s crimes and I wonder if its conduct over Blue Jay and MySquar (MYSQ) is, if not blatant market abuse, simply bringing the AIM Casino into disrepute. I have written to Marcus Stuttard, the head of AIM Regulation, demanding an immediate investigation into whether SP Angel should retain its Nomad license.

Cloudbuy interims: “reach cash break even without further funding” – really?

Published 276 days ago

AIM-listed jam-tomorrow (for years) online marketplace provider Cloudbuy has released its interims to June 2018. With a deadline of the end of next month to get the numbers out, it is encouraging to see results released over a month early – clearly the company thinks it has something to shout about after years and years of disappointment, but has it?

Falanx: has the company and Nomad Spark employed a medium to speak to the dead?

Published 276 days ago

Noting last week’s double announcement of pitiful boardroom buys, I see that the finance director of AIM-listed Falanx (FLX) hasn’t put his hand in his pocket again whilst shuffling his enormous holding of 221,359 shares (about £8,300 worth) into his ISA. Bully for him. But the company seems to have had to employ a medium in order to get the RNS signed off. Why? Well, if you look down the RNS you will see this….

Strat Aero – a tacit admission that it will be out of cash within months

Published 277 days ago

AIM Cesspit poster boy Strat Aero (AERO) has today announced that it has upped its stake in Gyrometric Systems Limited from 36.9% to 57.7% by issuing £273,000 “worth” of worthless pieces of confetti ( 23.8 million shares). Whoopie do.

Pathfinder Minerals: was shamed Nick Trew fired? Did he get a payoff for failure (and worse)? What about the disgraced Tory MP Sir Henry Bell-end?

Published 278 days ago

After years of earning £170,000 as a reward for being a total disaster as CEO of Pathfinder Minerals (PFP), the new board has taken just ten days to part company with Nick “not for the many but for the Trew” but massive questions remain.

UK Oil & Gas – the Real maths not the Leni-maths – SELL on today’s news

Published 278 days ago

Giving its piss poor drilling results elsewhere the future of UK Oil & Gas (UKOG) is almost entirely a play on the Gatwick Gusher, aka, Horse Hill, aka the latest mega ramp engineered by David Lenigas. Today UK upped its stake in Horse Hill by an effective 4.55% to 36.985% in a deal which only demonstrates more clearly how grotestquely overvalued its own shares are. That is unless you are using Leni-maths.

Bowleven – disappointing drill news

Published 281 days ago

One of my two share tips for 2018, AIM-listed Bowleven (BLVN), has updated the market on the first of two appraisal wells: it is bad news. As Waseem Shakoor puts it:  disappointing, but that’s drilling. I had hoped for better, but as AIM-listed UK Oil and Gas (UKOG) and fellow pie-in-the-sky oiler, AIM-listed Frontera Resources (FRR) want to ignore, no matter how loudly you shout about the potential, in the end it is only the drill-bit which matters.

Still Worried About the Brexit Bogie on Your Shares? Well I'm Not.

Published 281 days ago

Hello Share Clumpers. Whether or not you voted for Brexit doesn't matter. What we supporters of this magnificent website want to know is how will our shares be affected. Both in the run-up to that scary March 29th date and afterwards.


Falanx: director buying - "That Don’t Impress Me Much"

Published 283 days ago

A day after pretty poor results from AIM-listed Falanx (FLX) and we have two RNSs announcing that the boardroom has been buying shares. Is it good news? Er…..to quite Shania Twain, that don’t impress me much.

Which two AIM Companies have been fined and given (pointless) private censures for breaking the rules?

Published 283 days ago

As well as the public censure and fine announced yesterday for MBL Group (MUBL) two AIM Cesspit companies were fined and given private censures by the clowns at AIM regulation. But who are the naughty boys who misled investors and market and what does waste of space AIM Regulation boss Nilam Statham hope to achieve by this?

Tern – so was former Nomad WH Ireland pushed, or did it jump?

Published 284 days ago

I noted last Thursday that in the wake of updated Directors’ information (Messers Leith and Ritchie having missed out ten insolvencies) and the clarification over forecasts for Device Authority that one wonders what will come out next from AIM-listed Tern plc (TERN). Well, on Monday it announced it had appointed Allenby as Nomad. What I wonder is whether WH Ireland jumped or was pushed?

ShareProphets China AIM 'Filthy Forty' performance update – August & Walcom customer still not coughed up edition

Published 284 days ago

Following the latest Walcom – customer still not coughed up, now its off to the lawyers, here's an August ShareProphets China AIM 'Filthy Forty' performance update...

Ariana – Does Turkish Lira crisis means stance is downgraded? Er, NO!

Published 285 days ago

I have been an avid supporter of AIM-listed gold miner Ariana Resources (AAU) for a long time and have been advocating buying the shares since recommending them last February, as production approached. I like the company, I like head-hocho Kerim Sener who is, in my view, an exception on AIM in that he is straight and I think the news from the company’s joint venture mine at Kiziltepe has been exemplary. In particular, in the wake of the production update last month for Q2, I had been looking forward with some considerable excitement to the full results of that period. But we have a crisis in Turkey: is it a concern?

ShareProphets Tern poll results vs BBMs: the BBMs win (for now)

Published 286 days ago

Our reader poll last Monday asked you where shares in AIM-listed Tern plc (TERN) would end the week. The answer was...

BMR Group – After the delisting, what now?

Published 286 days ago

Following my piece HERE which voiced concerns that formerly AIM-listed BMR Group (BMR) had simply been executed by the oxymorons, I had a chat with the company to find out what comes next. My hope is that the company will release a statement in due course, but in the meantime what I can report is that it seems all is not lost. I can also report a little more on the loss of its licence in Zambia (which was subsequently restored).

Tom Winnifrith Bearcast: I have nothing against ripping off unsophisticated Aussies but...

Published 288 days ago

In today's podcast I recount last night's suffering HERE but have a revenge on a millennial daughter involving Paddy Leigh Fermor planned for tonight. I look at House of Fraser going into administration, assisted by the Government, and what it means. I discuss the latest Tesla news, the issue of all sorts of market abuse and why nothing happens, Oilex (OEX) and ProPhotonix (PPIX) which really should not be on AIM at all.

Tern – “Updated Director Information” = WE LIED

Published 290 days ago

Another day and another shocking disclosure from AIM-listed Tern plc (TERN). Yesterday, at 3.10pm, after releasing details of two director buys which were trivial and showed Tuesday’s news of Device Authority’s elevation to “2018 Emerging Star” to be just a ramp (or insider trading by the chairman, take your pick!) we were told that disclosures in relation to two directors of the company had not been entirely truthful: the published directorships of the two had omitted not just the odd one which might have slipped the mind. No, it was TEN!! More to the point, it was ten insolvencies which should have been declared when they were appointed – and a further two which should have been disclosed after appointment.

Tern – trivial director purchases show yesterday’s news was just a ramp

Published 291 days ago

AIM-listed Tern (TERN) has announced that two of its directors have been purchasing shares. Normally one would pay attention, but there are good reasons to see through this as just a spoof.

Imaginatik – at 10p to buy, this is surely insane!

Published 291 days ago

AIM-listed former Rob Terry stockmarket darling Imaginatek (IMTK) has been on a glorious run since it first emerged that Vin Murria might take the helm and use it as her new vehicle. Of course, that is really good news for Vin Murria walks on water, but 10p to buy? Surely you’re ‘avin’ a giraffe!

Tern – “cannot comment on external, independent, commentary, valuations or assessments of the Company and its investments”? Er....

Published 291 days ago

Back in 2015 AIM-listed Tern plc (TERN) responded to grenades from this website after we had exposed the “error” in an apparent valuation of Cryptosoft (now Device Authority) of $75 million when the company did a placing. It was a typo, and should have read $75,000 – and it wasn’t even a valuation. But Tern issued a Statement re share price movement which said there was nothing the company needed to announce and went ahead and did a placing, taking advantage of the hiked share price. The shares fell very sharply once the truth was out. And now we have “news” this morning. Is it too good to be true?

ShareProphets Reader Poll - your predictions for Tern shares by Friday

Published 293 days ago

In the wake of AIM-listed Tern (TERN)'s debacle of its "clarification" on Friday, the shares collapsed by a whopping 39%. The BBMs seem to think this is all a bit of a misunderstanding and a further clarification will come leading to a mega-bounce. Good luck to them with that! But what do ShareProphets readers think?

After the ouzo, what now for Tern? And what about InVMA?

Published 293 days ago

It seems as though AIM-listed Tern has been found out – and not for the first time. Having had my traditional ouzo, the question is what happens next. And while we are at it, what about its investments into InVMA?

BMR Group – Booted off AIM yesterday morning, but what is the real scandal?

Published 295 days ago

I wrote a few pieces on (now formerly) AIM-listed BMR Holdings (BMR) back in February when its Zambian Mining rights were stripped away – the previous threat of which it seemed to know of the previous September (when it did a placing) but did not share with the market. That was eventually resolved and the rights restored, but this morning BMR was given the boot from the Casino. Perhaps we should not be too surprised, but I wondered what was going on here. What I have been told suggests an absolute scandal – but not at the hands of BMR…..

Tern – “clarifies”. Has it committed securities fraud, or does it just stink?

Published 295 days ago

Shares in AIM-listed Tern plc (TERN) are down sharply this morning by 20% (last seen) on a clarification from the company regarding its principle investee Device Authority. In short, forecasts were, shall we say, a tad optimistic. That, in the wake of a placing at 26p. Perhaps some kind person can explain why that might not amount to securities fraud, for as a humble non-lawyer all I can say is it stinks.

Advanced Oncotherapy – £6.41m placing at 49p - time for me to flip flop again? Hell no!

Published 296 days ago

This is undoubtedly good news for AIM-listed Advanced Oncotherapy (AVO) and the meagre 4% discount in quite a bonus. But I find it hard to get too excited.

After the David Lenigas twitter pump on Angus Energy...guess what happened next?

Published 296 days ago

The leopard does not change its spots. Pumping UK Oil & Gas (UKOG) hard as it was trying to arrange a bailout placing is bad enough. But now we come to Angus Energy (ANGS) another Horse Hill play and one where the CEO has just "been resigned" in disgrace following revelations HERE. But Big Dave has, as you can see below, been pumping its shares hard on twitter. What happens after a Big Dave pump?

Filthy Forty Walcom – customer still not coughed up, now its off to the lawyers

Published 298 days ago

ShareProphets AIM-China Filthy Forty play Walcom (WALG) – one of just seven remaining – has announced that its largest customer still hasn’t ponied up the wonga. There’s a surprise…..not! Also unsurprising is the share price reaction, where the bid price has dropped to just 0.25p. If you wanted a bag of crisps, you’ll have to settle for Tesco Value ones now.

Minoan – not big news after all…..yet

Published 298 days ago

Well that was a damp squib: AIM-listed Minoan (MIN) announced its interims as expected this morning, but disappointingly there was no confirmation of the travel & leisure sale, nor of what will happen with Cavo Sidero. We are again left waiting – although not for long, I hope. There were, however, one or two little tit-bits in there to offer at least some encouragement.

Tern - shares now trading below 26p placing price. To head lower still?

Published 299 days ago

I see that AIM-listed Tern plc (TERN) shares are now trading on a spread of 24-25p, which is below the 26p placing price of last week. As Tom Winnifrith often reminds us, shares which drop below the placing price tend to head lower still.

Broker and tipster coverage and sentiment differs by company size

Published 300 days ago

This week, we use the 38,000+ stock tips currently performance-tracked on the Stockomendation platform to analyse the relationship between a company’s size and the level of scrutiny it typically receives from brokers and tipsters.

Minoan – big news this week?

Published 300 days ago

I am ever more convinced that there is some big news coming from AIM-listed Minoan (MIN) and that it could well be this coming week. We have been told the sale of the travel and leisure business is on the way, and that the company expects to settle the Hillside loan which has been extended (yet again) to a long-stop date of the end of August. But we have also been told a general meeting will be required.

Tern – Waseem Shakoor kicks the hornets’ nest

Published 302 days ago

Great bear Waseem Shakoor has responded to AIM-listed Tern (TERN) and its £2.9 million placing at 26p by suggesting that the company took advantage of a stock shortage to get the share issue away. If he is right, the implications are shocking.

ShareProphets China AIM 'Filthy Forty' performance update – July & when's the Walcom customer going to pay edition

Published 303 days ago

Following earlier this month Walcom – surprise, surprise: the customer hasn’t paid yet, here's July's ShareProphets China AIM 'Filthy Forty' performance update...

Octagonal – those GIS numbers: more misses than hits

Published 304 days ago

I said I would take a look at the annual accounts to March 2018 of Global Investment Strategy UK Ltd (GIS) which AIM-listed Octagonal (OCT) owns. After all, Octagonal announced by RNS in April that GIS expects to report EBITDA of £3.01 million, a record for the Group, on sales of £6.53 million for the year ended 31 March 2018 and that cash in the bank or equivalents more than £5m as at 31 March 2018. Hmm – let’s see how those statements worked out.

Tern – yet another placing (told ya!) and investee InVMA goes shopping

Published 304 days ago

Time to get out the ouzo, for AIM-listed jam-tomorrow investment company Tern plc (TERN) has raided the bucket shops once again – this time raising £2.9 million (before expenses) at 26p, a discount of 21%. In a separate announcement, we are also told that investee company InVMA has been shopping – but no financials are offered and I fancy that is because the purchase is quite insignificant - it was, after all, an RNS Reach.

Tom Winnifrith Bearcast: Hell's teeth Lucian says it is actually 33 miles! IQE - I smell panic & Rangers' Dave King Court date

Published 305 days ago

Brokerman Dan has been replaced as the maps man on our Woodlarks Charity walk on Saturday. Perhaps we now know why in his former career he did not always get away. For it turns out that the walk is not 32 miles but 33. Lucian has mapped it out in full. Cripes. We now need just over £2,000 to reach our £20,000 target so if you hav e not yet sponsored me please do so HERE. Get us to target & I will shut up about it. In the podcast I look at IQE (IQE), Rangers FC and another date in court for Dave King, Thirsty Paul Scott not understanding what research means & wanting me not to cover Sosandar (SOS), Cenkos (CNKS), ADVFN (AFN) and Online Blockchain (OBC), Highlands Natural Resources (HNR) and Fishing Republic (FISH) which, I think, is AIM toast in waiting 

Octagonal – results for GIS released, so where are the parent accounts?

Published 305 days ago

Tom Winnifrith pointed to some previous anomalies at AIM-listed Octagonal (OCT) where John Gunn (of AIM-listed dog Inspirit Energy) and Nilesh Jagatia (of Teathers infamy) reside. Today, I had an email drop into my inbox…..it is all very odd.

Haydale – shares crash again. So much for a placing at 50p, SELL!

Published 308 days ago

Shares in AIM-listed Haydale have been a one-way bet to financial destruction ever since it conducted a placing at 120p (a discount to the then share price of some 32%). In the wake of a trading warning and the stepping aside of its CEO, the stock has now crashed to just 50.5p – the stock gave up a further 14% on Friday alone. The problem is that it needs to get another bailout placing away.

Long, wrong and deliriously happy - Sosandar still cheap!

Published 308 days ago

I called AIM-listed Sosandar a buy at 13p, moved to hold at 20p and suggested taking a slice of money off the table at 25p (I got over 27p). I still hold a shade over 75% of my holding so I’m still long, but the shares have moved up further to close yesterday at 32.7p, having peaked at 34.7p. So perhaps I was wrong to be such a coward and cash in so quickly. But I am deliriously happy, with a good chunk of my original stake banked, a whopping profit on the rest and seemingly plenty more to come.

Versarien: a case of Déjà Vu. Outstanding Short Value at 123p

Published 309 days ago

It is easy to dismiss Versarien (VRS) as just another overhyped AIM stock but, as today’s results show, that does not do it justice. It is currently in a class of its own. In fact, I would say you have to go back more than a decade to Pursuit Dynamics to find something with a valuation, pound for pound, as unhinged as this one.

Haydale – another RNS Reach……when’s the placing?

Published 311 days ago

AIM-listed Haydale (HAYD) has issued another RNS Reach announcement to add to the one released on June 19th. But we all know (don’t we?) that RNS Reach announcements are effectively marketing ploys, not hard news of cashflow. And we also know that Haydale has to get a placing away in order to get its accounts signed off as a going concern.

Bowleven – tip update

Published 314 days ago

I recommended AIM-listed Bowleven (BLVN) as a buy at around 31p in the 2017 ShareProphets Christmas tipfest. I suggested taking a little cash off the table at 37p and did so myself (getting 37.56p) with a strong hold stance on the rest. Yesterday the shares had a good go at breaking the 40p mark.

Sosandar – UK Investor Show tip update: holding trimmed a little, new price target.

Published 316 days ago

I had been saying for a while that I was happy to pay up to 20p for shares in AIM-listed online fashion play Sosandar, and whilst I was highly encouraged by the full year results and especially the statement on current trading I had not changed my view. More to the point I said that at 25p I would be looking to take some money off the table. It seems that I am either Warren Buffett or a fool….but I’ve stuck to my guns.

Video UK Investor Show City Event - Tom Winnifrith in conversation with Nigel Wray

Published 316 days ago

We ended the first  Uk Investor Show City event with  a conversation between myself and Nigel Wray covering a long time fave he has sold, a new AIM company he is backing, Brexit and much else. We also took questions from the audience. 

Haydale – shares sliding, who thinks there’s a placing on the way?

Published 316 days ago

You have been warned (see HERE) that AIM-listed Haydale (HAYD) is a nailed-on certainty for a discounted placing. We also know that the last placing was at a mammoth 32% discount (at 120p!) and the CEO has recently stepped aside following a (lack of) sales warning. Since then, the shares have been a one-way bet southwards, and we reckon a placing at 50p was on the cards.

ShareProphets RNS Translation Service: Mysquar calls a GM

Published 316 days ago

At 4pm yesterday, AIM-listed Mysquar (MYSQ) slipped out and RNS announcing that it was calling a General Meeting. It seems that the board is running short of shareholder authority to wheel out the printing presses to issue more worthless confetti. The ShareProphets RNS translation Service explains all (original in bold)

Minoan – Hillside loan extension (again….)

Published 317 days ago

AIM-listed Greek resort hopeful Minoan (MIN) has announced yet another extension to its loan from Hillside. The terms are largely the same, but a further 1.7 million warrants at 6p are being issued, and the loan is now on demand, with a long-stop date of 31st August. This is in relation to the announcement last week that the sale of its travel and leisure business is on the way. With a long-stop date of 31st August, one might assume that at long last something is going to happen!

Sosandar – I have changed my view, I am not a bear any more

Published 318 days ago

I started to soften my view on Sosandar (SOS) back in April having seen the founders at the UK Investor Show but thought I would formally update my position on this following yesterday’s results, as my name and “view” gets bandied around in connection with it. In summary, I am no longer a bear.

Sosandar – full-year numbers out already, momentum continues. Great stuff! But no flip flop today!

Published 318 days ago

AIM-listed Sosandar (SOS), my tip from this year’s UK Investor Show, had already performed very well but this morning the full year results to March were released. It is always a good sign when companies publish results ahead of the deadline and Sosandar could have waited to the end of September. So it was with increased optimism that I read through the report, but will it be enough for me to raise my stance on the shares and flip flop again?

Ariana – cracking update from Kiziltepe: buy

Published 318 days ago

AIM-listed Turkish gold producer and explorer Ariana Resources (AAU) announced its second quarter production numbers from its JV Kiziltepe mine this morning, and the numbers blew me away. With an annual target of 20,000 oz of gold production, it achieved 7,171 oz – a 47% increase quarter on quarter.

Filthy Forty Walcom – surprise, surprise: the customer hasn’t paid yet. SELL!

Published 319 days ago

On 28th June ShareProphets AIM-China Filthy Forty play (one of only seven remaining) Walcom (WALG) announced it was having problems getting its biggest customer to pay – but it was ok because it expected to cough up by 10 July. Well, here we are and surprise, surprise……it still hasn’t ponied up the wonga. The company issued an RNS entitled “Customer Payment” (if that is not misleading, I don’t know what is!)

Sosandar – shares back through 20p, so a hold for me

Published 320 days ago

Other writers on this fine website (ie Tom Winnifrith!) may disagree, but shares in AIM-listed Sosandar (SOS) are back through 20p, which was my limit price to pick up stock. So once again I move my stance to hold. Flip-flop-flip-flop….but it’s not me, it’s the share price which keeps moving! Whatever, my tip from the UK Investor Show this year is doing very well.

ShareProphets China AIM 'Filthy Forty' performance update – post half-year & Naibu fraud update edition

Published 320 days ago

Following the half-year point and China AIM fraud Naibu – NEDs who failed & took their geld now take Pinsent Masons & Daniel Stewart to Court earlier today, here's a ShareProphets China AIM 'Filthy Forty' performance update...

Tern – Waseem Shakoor taunts “ponzi”, shares continue to drift, still a sell

Published 320 days ago

AIM-listed jam-tomorrow investment company Tern (TERN) has been an amazing ride this year. Having started the year at 3p the stock went on a run all the way up to 58p, when the board had to issue a statement reminding the market that its NAV per share was still around the 5p mark. I called the stock a sell – at 43p – and now the stock is down to 25p. But it is still a sell.

China AIM fraud Naibu – NEDs who failed & took their dosh now take Pinsent Masons & Daniel Stewart to Court

Published 320 days ago

At the last AGM of Naibu (NBU) before it was booted off the AIM casino I attended its AGM, held at the offices of its Nomad Daniel Stewart, and accused the company of fraud.  Only the NEDs were present - Chinese executive directors failed to show. As I asked about a loan to the CEO’s mum that had not been repaid, the NEDs said they were unaware of this.  I pointed out where the loan was referenced in the annual report and the NEDs said they would go away and investigate. They did not. Only when they stopped getting paid did these useless upper class twits start to ask questions. Wind forward to today and it is time to shift the blame.

Broker and tipster sentiment differs towards newly-listed companies

Published 323 days ago

Newly-listed firm Cake Box (CBOX) has been making headlines, as its share price rocketed over 40% in the space of a few days since the company’s IPO last week. Meanwhile, speculation continues to mount over the specifics regarding Aston Martin’s expected IPO later in the year. With new listings making the news, we take a look this week at broker and tipster stances towards firms following their admission to the London Stock Exchange. Using IPO data going back to the beginning of 2015, we retrieved broker and tipster recommendations in the calendar year following each new listing. A “Buy” or “Risky Buy” rating is scored as a 5, a “Hold” rating as a 3 and a “Sell” or “Avoid” rating as a 1. The data throws up some interesting results, which are summarised in the two charts below.

Angus Energy boss Tidswell gets booted after Shareprophets exposes but is he now a shadow director?

Published 323 days ago

After recent revelations here the position of Angus Energy (ANGS) founder and chairman Jonathan Tidswell-Pretorious  was untenable and today he has “been resigned” from the board with immediate effect. But Tidswell will remain as a non- Board Operations Director, responsible for progressing all the Company's oil & gas operations while some oafish NED becomes chairman, in name at least.  That is what the company says…

Eqtec – dodgy Bercheva death spiral ended, now welcome to the world of structured finance!

Published 324 days ago

AIM-listed Eqtec (EQT) has announced a funding package this morning. The good news is that short-seller Bercheva - run by a convicted crook -  has been given the heave-ho from the death spiral facility, but the replacing loan deal seems to offer great terms to the lender and the accompanying placing is at a 35% discount. So what’s the upside for shareholders?

Angus Energy boss Tidswell and the share swindle it gets even better – meet Elizaveta Lata

Published 327 days ago

Only London’s worst Nomad, Roland “fatty” Cornish could have overseen the shambles at Angus Energy (ANGS) exposed earlier today HERE whereby its boss Jonathan Tidswell-Pretorious handed over all his 39 million shares as security on an (undisclosed) before signing paperwork only to find – with no money advanced – that 10.8 million had been flogged. But it gets better. Far better.

Minoan – sale of Travel & Leisure expected “in the next few weeks,” funding Hillside settlement. Buy.

Published 327 days ago

AIM-listed Minoan (MIN) announced yesterday morning that the sale of its travel and leisure division looks set (at last) to progress to an exchange of contracts, and a General Meeting will be called to approve the transaction. We are also told that the Hillside loan facility is expected to be settled and that the sale will provide the funds so to do. This is all very good news, although it has taken heading for seven months to get this far with the sale. Those with a glass half full might complain of evaporation….

Filthy Forty China New Energy FY17 numbers: Red Flags for breakfast?

Published 329 days ago

ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) put out its full year numbers for 2017 at 7am on deadline day, last Friday. It boasted significantly increased revenues and profits, so all’s well? Er…

Tungsten: beer and popcorn time as GM requisition to boot out the board is received

Published 330 days ago

Steve Moore commented HERE on press reports of potential boardroom strife at AIM-listed Tungsten (TUNG). It now looks as though the gloves are off, as last night at no-one-is watching o’clock (4.32pm) on a Friday evening the company announced it had received a General Meeting requisition with proposals to boot out the Chairman, CEO and two NEDs. I reckon we could be in for a treat on the entertainment front!

Filthy forty Origo – reveals a true horror story. Ouzo? No thanks, I want the sick bucket

Published 330 days ago

I warned on Thursday that if you are still holding, one might be tempted to compare the benefits of that versus a bag of crisps. Following a flow of dire news, on Friday ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued the most damning statements in its FY17 accounts, and the shares crashed by a horrifying 64%. It is truly horrifying. Step forward the investment adviser Origo Advisers (which more-or-less doubled as the company’s previous management), take a very special bow, please, Auditor BDO in Hong Kong. Take a turn, please, former Nomad Smith & Williamson. Normally at times like this I would be reaching for some of Tom Winnifrith’s Ouzo, but I can’t seem to let the sick-bucket go.

Filthy Forty Origo Partners: FY17 numbers due tomorrow, another investment disaster clocked up

Published 332 days ago

On Tuesday 26 June, ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) fessed up that it had lost another boat-load of cash, this time on Kincorra Copper (TSX.V: KCC). Actually, it didn’t – we were simply told it had been sold for CAD 2 million (around US$ 1.5 million). It is not until you realise that the company had sunk US$ 8.5 million into Kincora that you see what a shambles that investment was.

Updated: Filthy Forty Walcom Group warns it is in big trouble. Get out now!

Published 332 days ago

This morning ShareProphets AIM-China Filthy Forty play Walcom Group (WALG) issued a trading statement. Given that its interims are due by tomorrow, that does not look good – indeed, I wonder if the numbers will not be forthcoming and a suspension will follow.

Advanced Oncotherapy – FY17 numbers, cash comes in but still to need a fundraising

Published 333 days ago

AIM-listed Advanced Oncotherapy (AVO) released its FY17 numbers this morning. Looking through the numbers presented it is clear that the company was running on fumes last December. We are told that the company is in a stronger financial position since 31st December 2017 having secured £33.3m of financing post period end, but I wonder how much stronger?

Crack out the Ouzo at Sheriff of AIM Towers: Fastjet shares crash as potentially terminal cash crises emerges – feck you Citigate

Published 333 days ago

I guess the journalist smearing bastards at Citigate Dewe Rogerson might be about to lose another retainer. Their response to my probing of the financial woes of their poxy client FastJet (FJET) was to threaten and smear me. Fuck you Citigate. Now Fastjet has ‘fessed to just how grim things are. It could be tits up time by the weekend. Crack out the ouzo, let’s celebrate. I shed no tears for a company that stands by the actions of scum like Citigate. And I warned shareholders often enough what financial fate lay in store for FastJet.

Tern – InVMA Contract news…or is it news at all? Still a sell.

Published 335 days ago

AIM-listed Tern (TERN) has announced news of a contract for investee InVMA. Goodie, goodie – so the shares are a buy? Er…

5 Slam-dunk sells for 2018 – will we see a casualty this week as results deadlines fall due?

Published 335 days ago

So far my 5 sells for 2018 have offered mixed results, although the average performance as at the end of May was -15%. As we approach the end of June we have results due: might we see a casualty or two?

Tern – DA Security Blueprint, but still no numbers. Still a sell.

Published 335 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) announced on Friday that investee Device Authority’s (DA) strategic partnership with Thales has developed to a healthcare IoT security blueprint. We are told it represents a significant milestone, but once again there are no numbers. What is the profit split between Thales and Device Authority, for example?

Yet another pump is underway at Greatland Gold

Published 336 days ago

The longer you follow the lower end of the AIM market, the more you realise that big share price movements are often more a result of a concerted pump than related to actual news that has been released.

Haydale – (almost) no-one-is-watching o’clock holdings in company tells you what you need to know

Published 337 days ago

AIM-listed Haydale offered a terrible trading update the week before last, announced the CEO was moving aside and we know it needs to raise cash. In that context, the ramptastic pre-placing RNS Reach of Tuesday and a sub-£9,000 director’s-wife’s buy announced on Wednesday would appear to need taking with a large pinch of salt. Last night, at 4.20pm, however, we learnt that Legal & General had been selling.

Yet another AIM IPO disaster: Ethernity

Published 339 days ago

On 29 June last year Israeli tech-company Ethernity (ENET) joined the AIM Casino at 140p. Today the shares sit at just 30.5p after a profit warning and dire results yesterday. What’s not to like?

Haydale - when director buying says sell

Published 339 days ago

Yesterday afternoon, AIM-listed Haydale (HAYD) announced a buy by the wife of one of the NEDs. That should be good news, but I see it as bad news - especially as we all know the company needs to get a placing away and has just announced a crap trading update.

Haydale: “Strong Commercial Progress”? No - Red Flags ahoy, it’s a pre-placing ramp.

Published 341 days ago

AIM-listed Haydale (HAYD) has offered the market an RNS this morning describing “Strong Commercial Progress”. Bearing in mind the profit warning of last week, and the inevitability of another bailout placing one wonders if this marks the appearance of pastures new in the distance, or whether it is just a pre-placing ramp.

A broker lashes out at Thor Mining predicts shares to halve again

Published 341 days ago

I know sweet FA about Thor Mining (THR) other than its CEO knows a lot about snakes from his time in the field. And that is it, so I make no comment about what follows other than to say that in this private email sent to the chosen few the broker has not held back and has used very un-broker-esque language. He opines:

Tern – share options exercised. Do the insiders know something?

Published 342 days ago

Share options are usually issued to company directors and others to incentivise them to do a good job – the idea being that if they do a good job the shares go up and everyone is happy. This morning AIM-listed Tern plc (TERN) announced that an employee of an investee company had exercised 100,000 options at 8.5p. But as far as I can make out, those options don’t lapse until 2027 – so why exercise them now?

Stuttard’s Septic Seven – where are they now?

Published 343 days ago

I thought I would do an update on Stuttard’s Septic Seven – a portfolio carefully selected for Marcus Stuttard, the head of AIM for him to invest his cash in to demonstrate his utmost confidence in the regulation of the system he oversees as the Sham Sheriff. The members were all companies we had Red Flagged here on ShareProphets – but not to worry, because no action had been taken and investors were still free to lose (oops, sorry) invest their cash in those shares. It is some nine-ish months since I looked at this portfolio. I wonder what has changed?

Have you read Malcolm Stacey's Best-Selling book of Unmentionable Horror

Published 343 days ago

Hello Book Lovers. Writing for Shareprophets. com has given me terrifying insight into the world of dark horror. So I wrote a scary novel called Black Snow.

UK Oil & Gas and Tern: Summer Madness

Published 344 days ago

As the sorry saga of UK Oil & Gas (UKOG) reminds us, AIM stock promotions invariably revert to mean. The company, on Friday, announced a placing at 0.9p, pretty much the level at which the shares were a year ago before they succumbed to retail summer madness and sky-rocketed to ten times that level.

Ariana – Kizilcukur news, still a buy

Published 346 days ago

AIM-listed Turkish gold play Ariana (AAU) has announced news of work at Kizilcukur, its wholly owned gold prospect 22km (but 50km by road) from its JV Kiziltepe mine. It is all very encouraging, if relatively minor.

Sosandar: flip-flop, it’s a buy again!

Published 346 days ago

No doubt I shall be held up as a joke for this, but AIM-listed Sosandar (SOS) is a buy again, in my book. So am I flop-flopping? Er, no. I decided I would pay up to 20p. The shares went through that mark so they were a hold. Now they are down to 19.15p, so they are a buy again.

Haydale – disappointing sales, CEO steps aside. Oh, and surely a placing on the way. Timber….

Published 347 days ago

I previously looked at AIM-listed Haydale (HAYD) last October (HERE), concluding It may be a great business in the making, but the lack of visibility of earnings (just £6 million over the next 3.5 years) is too thin – profits seem an awfully long way away and the carefully crafted obfuscation in the trading statement makes me steer a wide berth…. Today we got a warning that sales have been disappointing, the CEO stepping aside and cash sitting at £5.6 million. Given that it raised £9.3 million last October (at a 32% discount) one has to wonder how long it will be before the tin is rattled again.

Tern issues a speeding ticket. SELL!!

Published 347 days ago

Call me mad, but if I were truly part of the Global Shorting Conspiracy I would now be shorting AIM-listed Tern plc (TERN). Having stated I wouldn’t short Tern because a price can go twice as bonkers as it is already, I fancy the time has come for reality to set it. Even Tern has issued a statement saying its own board knows of no reason for the continued rise in its share price. And just for good measure, Tern tells us its cash balance sits at £1.49 million – so I have been bang on the money (and it needs yet another placing).

Tern – another loan to cash-strapped Device Authority, previous repayments kicked into long grass

Published 349 days ago

AIM-listed Tern plc (TERN) has raced further ahead to a stunning 34p last seen. Well done to shareholders, and a Eurovision nul points to me. But I see no reason to change my bearish stance: the shares may have raced ahead, but this morning Tern announced another bail-out loan to investee company Device Authority and pushed back the repayment on its previous loans by another three months. We also had a Statement re Share Price Movement last Friday: the last ones we had didn’t play out at all well, did they!

Karelian Diamonds – 500k placing at 4.5p: it’s not enough – when’s the next placing? SELL.

Published 349 days ago

AIM-listed Karelian Diamonds has, as I predicted HERE, HERE and HERE, announced a placing to raise £500,000 before costs. At 4.5p, that is a discount of just over 30% to last Friday’s closing mid-price. Ouch! When I first commented on the lack of cash last November, the shares were 0.375p (mid) before they were consolidated (so they were 9.375p in today’s money): I think that means it’s time for an ouzo or two over at Deputy Sheriff Towers!

Filthy Forty China New Energy – a selective buyback?

Published 349 days ago

On 27 December 2017, ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) announced an EGM to allow it to buy up to 20% of its shares back. The EGM duly passed the relevant resolutions on 17 January 2018. So how many shares has it bought back?

UK Investor Show tip update: Sosandar – stance downgrade

Published 351 days ago

I’m changing my stance on AIM-listed Sosandar (SOS). This is not because the company has done anything wrong, or that events have gone against it. Nor is it any fundamental reassessment of the company. No, it is just that the shares are well up since I tipped it and whilst it could be a buy still, I’d like to see updates on current trading before saying buy now.

Minoan: more delays, more confetti, adviser options. What’s not to like?

Published 354 days ago

 

AIM-listed Minoan has updated the market this morning on some important matters, some trivial matters, and hasn’t mentioned another (why not?). I’m not overly-impressed, but does it change my “buy” stance?

Ariana – results: Good work, keep it up

Published 356 days ago

AIM-listed Turkish gold miner Ariana (AAU) has posted its FY17 results. As promised, there are some details of the Kiziltepe joint venture, the results got a clean audit (as opposed to last year which raised the need for more funding) and Ariana has offered the clearest indication yet of an end to dilutive placings. Overall, it makes a pretty happy read.

Sosandar – UK Investor Show tip update: still a BUY

Published 357 days ago

AIM-listed Adam Reynolds float Sosandar (SOS) has been having quite a ride since I first commented on it following this year’s UK Investor Show at 12p to buy and tipped it at 13p – they are now up to 19p to buy so I guess that’s a 50% profit. I bought in at just over 15p and nabbed a small handful more on Friday at 18.46p.

Tern: D-day (or is it C- or E-day?) approaches for Device Authority

Published 357 days ago

AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has an interesting date in its diary at the end of this month, for on 30 June its recent loans to investee company Device Authority must be converted into DA stock or repaid (at 300% of principal!) Given the scale of the cash-crisis across the portfolio at FY17 (see HERE) it seems unlikely to be repaid, so what happens if/when the loan is converted, and why is it a problem for Tern?

Rurelec – FY17 numbers, sale of assets, Auditor resigns. Squeaky bum time!

Published 359 days ago

AIM-listed Rurelec (RUR) has released its audited FY17 numbers this morning. Once again we see losses (£5.8 million vs £9.3 million FY16) and the cash was down to just £163,000. We are told liquidity was a major issue for the Group in 2017 – you bet! We also see the auditor resigned – more on that below – and a previously unreported asset sale which leaves me rather puzzled. Finally, we are told there was no qualification of 2017 accounts which sounds great, but that was not quite all it seemed at first sight.

Ariana – resource upgrade at Kepez, still a buy

Published 359 days ago

AIM-listed Turkish gold miner Ariana (AAU) yesterday announced a resource upgrade at its Kepez prospect, which forms part of the Red Rabbit joint venture which is producing gold from its Kiziltepe mine. 

Advanced Oncotherapy – hands up who knew Bracknor still had death spiral loan notes!

Published 360 days ago

AIM-listed Advanced Oncotherapy (AVO) announced this morning that Bracknor, the death spiral funder, still had convertible loan notes to swap for shares. This, despite the RNS of 19 July 2017 telling us that the Company does not intend to use the Bracknor facility in the future. As part of these arrangements the Company will issue 7 million warrants to Bracknor. These warrants are exercisable at 25p and may be exercised at any time over the next five years. Anyone would have thought that was the end of the matter. Apparently not.

Big Sofa – Eridge (formerly New World) part converts, part takes repayment of loans

Published 360 days ago

I hold shares in both Eridge (the re-named and redomiciled New World Oil and Gas (NEW) which was booted off the Casino following the most extraordinary run of events) and in AIM-listed Big Sofa (BST). I was therefore wondering what was going to happen to the convertible loan which Eridge held from the days when it was going to be the vehicle into which the Big Sofa was injected before a few things came to light which eventually saw that fine firm of Beaumont Cornish resign and run for the hills as Nomad in one final two-fingered salute to (then) New World’s shareholders.

Filthy Forty and banished from AIM, Aquatic Foods NED’s make a few admissions: ShareProphets was right

Published 362 days ago

On 28 December 2017, ShareProphets AIM-China Filthy Forty play Aquatic Foods Group issued an RNS stating that it couldn’t publish accounts for 2016 and the shares would be booted off AIM the following morning. Of course, there’s a lot more to that and ShareProphets had been predicting the demise for months. Now the patsy NEDs have issued a statement and it is clear that ShareProphets was right all along.

Red Flags at Night Bank Holiday Special: AIM-China Filthy Forty Origo Partners

Published 364 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued a stonking warning on Friday night, at 5.30pm going into a bank holiday. Talk about no-one-is-watching o’clock. I previously warned in the light of a previous warning (HERE) that the question was whether the asset realisations will generate anything at all for shareholders after holders of the Zeros (whose money appears not to be contributing to OAL’s new fees) have been paid off. Last night’s RNS suggests the answer may well be nothing.

Victoria Oil and Gas – how to deliver bad news: well done!

Published 367 days ago

I previously covered AIM-listed Victoria Oil and  Gas (VOG) with reference to an after-hours warning issued after market close, but during the auction. It looked terrible, but there were mitigating factors which looked to have combined in an unfortunate fashion. This morning Victoria has issued a Q1 trading update. It is not pretty, but I have to take my hat off to the company this morning, for it gives full numbers and investors can make a rational decision.

Magnolia Shocker - to delist from the AIM casino - why is the board not being sacked?

Published 368 days ago

I have repeatedly warned against investing in Gavin Burnell of Globo infamy creation Magnolia Petroleum (MAGP). Drowning in debt, burning cash and paying vast sums to CEO Rita Whittingham and her ghastly relatives on the payroll this is a dog. Today the company says that it is going to try and sell some of its (crap) assets and to save £100,000 it will delist from AIM. It could save far more by firing its deadwood staff. The shares have plunged 65% and are now just 0.6p to sell. But you should sell. SP Angel guru, the City's No 1 oil analyst Zac "The Knife" Phillips sums up this farce perfectly.

Tom Winnifrith Bearcast - another first, brought to you from Athens Bus Station

Published 369 days ago

Yes, this is the place where many AIM CEOs are not fit to run the public toilets. What better place to record? Excuse the background noise. Yes I am back in Greece - I kept that a secret - and have today door-stepped Folli Follie at its lavish HQ camera in hand. It was an experience. Thank god I had a burly Albanian in a car with a motor running parked down the road. In this podcast I discuss Andalas (ADL) which is still not coming clean and is a prize dog, Roger Lawson with whom I have a good chat last night and who does not trivialise hate mail and R4E (R4E) whose results statement is er.. a mixed bag for we loyal shareholders.  PS If you appreciate my bravery and dedication GO SPONSOR ME FOR £10 NOW HERE

Bowleven – first spud at Etinde

Published 369 days ago

News out this morning from AIM-listed Bowleven (BLVN) is that the IM-6 appraisal well at Etinde, Cameroon, has been spudded - seemingly ahead of schedule (we were told the end of May). Operations are expected to take around 100 days, with Schlumberger providing most of the drilling services.

Tern – more partnerships for DA, still no numbers

Published 369 days ago

Shares in AIM-listed jam-tomorrow investment company Tern plc (TERN) continue to rise. Today they are up by 3.3% on the back of yet another partnership announcement on behalf of investee company Device Authority, to a whopping 23.5p. But once again, whilst the RNS offers flowery language, there are no numbers.

Frontera – flow rates offered but Waseem reckons it is “worthless”

Published 370 days ago

AIM-listed, Houston headquartered, Cayman Islands registered oil/gas play Frontera (FRR), whose operations are in Georgia (and if that’s not a Red Flag….) has confirmed gas flow rates from its Dino-2 well in the Taribani complex. It flowed at 315 bbls per day – well, at least part of one day. Apparently that’s commercial, but I doubt shareholders can count their winnings just yet.

Sosandar - cracking trading update: STRONG BUY

Published 371 days ago

When Sosandar (SOS) listed on AIM at 15p late last year, the forecast was that sales in the year to March 31 would be £1 million. Now we learn that they were £1.34 million. How many companies beat forecasts by that much in their IPO year? This is a special company as anyone who watched the two birds who run it HERE will know.  This is not just about sales. It gets better for we loyal shareholders...

Tern – is the CEO a Phoenix from the ashes?

Published 372 days ago

I have wondered why a former president/CEO/chairman of Pheonix Technologies would take a board seat at AIM-listed Tern plc (TERN) for quite some time. In fact, since his appointment at Tern I have wondered what Al Sisto was doing there with such a high-flying career. What on earth would someone with a CV like that be doing as a director of a small AIM-listed tiddler? Of course, since his appointment he has moved up the ladder and is now CEO and filled in as an interim Chairman too. But an ex-boss of mighty Phoenix?

Sosandar – UK Investor Show Tip Update, Trading update and a couple of numbers: still a BUY

Published 373 days ago

AIM-listed online women’s clothing play Sosandar (SOS) from the Adam Reynolds stable has announced its trading update for y/e 31 March 2018. This was my pick of the companies I saw and chatted to at the UK Investor Show, and so far the shares have performed admirably. Now it has produced a cracker of a trading update and I still rate the shares a buy, but it certainly is not a “widows and orphans” stock!

Tern – detailed look at FY17 accounts reveals a monster cash crisis: it is no better now

Published 376 days ago

I said the other day that following the £1.75 million placing at 18.5p (a 30% discount) last week it looked as though Tern plc (TERN) had enough cash to see it through for the time being. But I’ve been looking through the FY17 Annual Report and now I’m not so sure. In fact I am sure it does not have enough cash. Its portfolio of investee companies looks a shambles and it seems that Tern has been paying some of its investees’ bills. Quite how auditor Grant Thornton thought the company fit to pass as a Going Concern is a mystery to me.

Bowleven – game on as drilling rig arrives at Etinde

Published 380 days ago

AIM-listed Bowleven (BLVN) has announced the arrival of the Topaz driller rig in Cameroon waters. The rig is contracted for 150 days to perform the two-well appraisal drilling campaign on the Etinde asset, with first spud due by the end of this month.

Advanced Oncotherapy – lies about Blackfinch deal, what are the finances like?

Published 380 days ago

AIM-listed Advanced Oncotherapy finally got around to updating the market over its Blackfinch loan which matured on 24 March and was secured on its Harley Street premises. But it seems that the company can’t tell the truth!

UK Investor Show 2018 Video - Patrick Birley of NEX Exchange

Published 381 days ago

 NEX is a rival to AIM. Surely there has to be a better way than AIM? Patrick Birley explains all.

Ariana – Q1 Kiziltepe quarterly report; still a buy

Published 382 days ago

AIM-listed Ariana Resources (AAU) released its quarterly report this morning for its joint venture mine at Kiziltepe in western Turkey. On the face of it the numbers were again good, although we had prior warning of that back on 16 April when the company released a preliminary production report for Q1. Today’s report fleshed that out a little.

Advanced Oncotherapy – UK site agreement, but what of the Blackfinch loan?

Published 383 days ago

As we know from AIM-listed UK Oil and Gas (UKOG), the best thing to do when faced with an awkward question is to move the goal posts. And so this morning we see AIM-listed Advanced Oncotherapy (AVO), rather than ‘fess up over its overdue loan from Blackfinch which is secured on its Harley Street premises, telling us that it has signed a lease with the UK Government’s Science and Technology Facilities Council to establish a UK testing site for its LIGHT (proton therapy technology) system. I wonder what Advanced is going to pay with!

Tern – £1.75m placing to single institutional investor….but who?

Published 383 days ago

I have to hand it to Al Sisto, CEO of AIM-listed Tern plc (TERN). Down at 2p not so long ago, the shares are riding high at 26p and now he’s got the placing I have been predicting away at 18.5p for £1.75 million. It kind of begs the question of what on earth the company was doing with a death spiral in place before the latest lift-off commenced. But a placing 18.5p with the shares having closed last week at 26.6p is quite a discount – 30%. And who is this single institutional shareholder?

UPDATED/CORRECTED: Inspirit – Issue of Convertibles RNS = share capital reorganisation

Published 386 days ago

We have been calling out AIM-listed Inspirit Energy Holdings (INSP) here on ShareProphets for an age: we reckoned the boiler room had no cash and its shares were below nominal. On Friday, at 2.54pm, as the market was getting ready for a nice sunny bank holiday weekend (talk about no-one-is-watching o'clock), up popped an RNS entitled “Issue of Convertible Loan Notes”. It is only after reading the whole RNS that you realise that they are proposing to split the ordinary shares of 0.1p into one ordinary share of just 0.001p and a deferred share (with no rights) of 0.099p. Oh, and incidentally, where is the Confirmation Statement on Companies House, which was due on 30 March?

Advanced Oncotherapy – have I been raiding Tom Winnfrith’s magic mushrooms, or has someone else?

Published 387 days ago

AIM-listed Advanced Oncotherapy (AVO) has still not updated the market over its Blackfinch loan which was due to expire at the end of March, a loan which was secured on the company’s Harley Street premises. I also have doubts (still not answered) over the cash from China. But on re-reading through the note from Goetzpartners (which sent Advanced stock much higher on publication) I wonder if I have inadvertently been taking some of Tom Winnifrith’s mushrooms.

UK Investor Show Share Tip No 9 - from Tom Winnifrith

Published 387 days ago

I have quite rightly slated this stock as being a dog with a bloated cost base and no chance of making money for shareholders. I have been right but the management and fundamentals have changed so it is my second show tip. It is a punt but definitely worth a small flutter.

UK Investor Show 2018 Video - Roger Murphy of African Battery Metals

Published 387 days ago

Yes this was Sula and the drill programme did not work out. Rather than carry on flogging a dead horse while drawing a vast salary as many AIM CEOs would have done, boss Roger Murphy changed the name  to African Battery Metals (ABM) and the focus while he stgill had cash at hand. He explains what comes next in the video below.

Bowleven – new “interim” non-exec chair - am I banking gains?

Published 387 days ago

Having seen off the previous incumbent, AIM-listed Bowleven (BLVN) had indicated it was looking for a new Chairman. Yesterday morning it announced the internal promotion of NED Matt McDonald as an interim non-exec chairman. This all adds to my theory that Bowleven is not long for this world.

Tom Winnifrith Bearcast: Who sent me the lawyer's letter and suspending disbelief (pro tem) on Tesla, Telit & Purplebricks

Published 389 days ago

The lawyer's letter? I must keen you in suspense as I discuss with my lawyers how to respond so you can still vote on who sent it HERE. I also chatted today to Lucian about three slam dunk shorts: Telit (TCM), Purplebricks (PURP) and Tesla (TSLA). Or are they slam dunks? Might disbelief be suspended forever.? I then look at Photonstar Led (PSL) at Conroy Gold (CGNR) and at how AIM gives capitalism a bad name by not letting bust companies such as Andalas (ADL) fail.

Monty Python explains the true value of Andalas & the 4 questions it must answer NOW!

Published 389 days ago

I was told last night by the PR spinner to Andalas (ADL) that I should be asking about its new focus in the North Sea, how it will build value, yadda, yadda, yadda. FFS This company has no assets of value, it is burning stacks of cash every day and has NEGATIVE Net current assets of up to $2 million, even after the £600,000 placing on Monday - what don't you understand about the words "FECKING INSOLVENT" darling? I leave it to Monty Python to explain the true state of Andalas below. Meanwhile here are 4 Burning questions it is not answering so I - and Brokerman Dan - will keep asking.

Bowleven – share price advancing again

Published 390 days ago

I offered up AIM-listed Bowleven (BLVN) as one of my two ideas for 2018 at 31-31p and I see that the shares have headed north again. What to do?

Uk Investor Show 2018 Video Peter Bird of Asiamet Resources

Published 390 days ago

Asiamet (ARS) has been one of the AIM wonder stocks of the past year. Peter Bird explains why the good times will continue. Enjoy.

Advanced Oncotherapy – now we know why the shares are up: prostitution pays!

Published 391 days ago

So after my piece HERE wondering why AIM-listed Advanced Oncotherapy (AVO) was up 20-odd per cent it turns out that a research note was put out on the RNS system. The research note was from an outfit called Goetzpartners Securities Limited, which claims to be a leading pan-European investment bank and research firm. Right…. So who paid for this research, and is it worth the paper it is written on?

When a Multi-Bagger's Share Price Retreats There is Often a Second Wind

Published 391 days ago

Hello Share Wishers. Tis time we had another look at that interesting multi-bagger Creighton (CRL). It makes modest everyday items like deodorants and fake suntans. Lidl is one of its customers.

Breaking - worthless joke company Andalas Energy raising up to £1 million at 0.017p & junking Asian focus: statement needed at 7 AM

Published 391 days ago

With all the usual rampers including the infamous Big Gib, invited to participate, I can reveal that worthless piece of crap AIM Andalas  (ADL), currently 0.019-0.02p, is endeavouring to raise up to £1 million at 0.017p. Methinks there is now going to have to be an emergency RNS at 7 AM. For the story gets even more interesting...

UK Investor Show Main stage speaker Dr Johnny Hon on China fraud with Tom Winnifrith Cameo

Published 392 days ago

I rather wondered what Dr Hon of The Global Group would say about China fraud on AIM but what he said was pretty explosive, exposing those within the City who quite deliberately and systematically broke Chinese rules to allow frauds to float in London. This was great stuff because the scandal is that those who did this still operate in the City today. I make a cameo appearance at the end. Enjoy.

UK Investor Show 2018 Video: Bruce Leith of Tern

Published 392 days ago

Tern (TERN) is, of course, the bete noire of our own Nigel Somerville. It has also be THE AIM wonder stock of the past week. So what exactly did Bruce Leith say at UK Investor Show. Enjoy.

Notes from Underground - Me vs the Internet

Published 392 days ago

Unless you need high speed Internet, wherein we revert to the Victorian times. I swear, I don't know how Charles Dickens and Jules Verne got anything done with the poor Internet we suffer in the Capital.

UK Investor Show 2018 Video: Kerim Sener of Ariana Resources

Published 394 days ago

Kerim Sener is the founder and CEO of AIM listed gold producer and explorer Ariana Resources (AAU). He is one of the nicest and most honest guys on the market and I think Ariana shares are cheap. To see what he had to say at the UK Investor Show 2018 watch the video below. Enjoy!

Minoan - grrrr, placing at 6p

Published 395 days ago

OK, it is only half a bernie but shares in Minoan had been doing well of late. Now it has done a placing at 6p (the shares were 8p yesterday), welcoming new joint broker Cornhill Capital to the Minoan Team. Apparently this is all good news and Christopher Eagleton is pleased to have raised the funds. So that's alright then. Never mind the 25% discount....

Advanced Oncotherapy - no response to my questions but shares rocket 22% today. Why?

Published 395 days ago

As yet AIM-listed Advanced Oncotherapy (AVO) is yet to answer my questions about the Blackfinch loan which is secured on its Harley Street premises and which was due to expire back on 24 March. It has also ignored my questions about the Chinese funding from Yantai Cipu as to whether any funds  have actually arrived with Advanced. These two questions seem to me to be pertinent to Advanced's very survival, but all we have had is a wall of silence. You would have thought the market would get jittery, but out of the blue today its shares are up a whopping 22% (last seen).

Rurelec – oh dear, more bad news from Argentina

Published 396 days ago

AIM-listed Rurelec (RUR) released what appears to be a mixed bag of news this morning, although on closer reading it looks all bad. The board has its work cut out once again as liquidity appears to be heavily constrained and there is limited certainty over further debt repayments. In other words, it is yet again running very close to the wire: will this latest crisis be enough to finish off the company?

Advanced Oncotherapy: …and now for the eleventh time!

Published 398 days ago

Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the eleventh time. They are serious questions and with the wrong answers I would struggle to see how the company is solvent. But Advanced continues to ignore the questions. So here we go again….

Advanced Oncotherapy: …and now for the tenth time!

Published 399 days ago

And so yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the tenth time as we head into double figures.

Advanced Oncotherapy: …and now for the ninth time!

Published 401 days ago

Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the ninth time…..here we go again:

AIM-China Filthy Forty Origo warns on NAV – ouzo time as shareholders brace for another spanking

Published 401 days ago

ShareProphets AIM-China Filthy Forty investment company Origo Partners (OPP) has updated the market this morning in a series of announcements which look to amount to a complete dog’s breakfast as far as shareholders are concerned. There is a new Nomad which looks to me to have been appointed in suspicious circumstances, there are proposals to change the remuneration of the company’s grotesquely overpaid advisors….and expected realisation amounts will be significantly less than the Company's last reported net asset value. What’s not to like!

Advanced Oncotherapy: …and now for the eighth time!

Published 402 days ago

Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the seventh time. At this rate Jeremy Paxman’s score of 12 (against Michael Howard) is in danger. I have had it pointed out to me that Paxo asked the questions face to face, and in that regard I can’t match him. But at least (now) Lord Howard had to reply – even if he evaded the actual question. Anyway, here we go again:

Advanced Oncotherapy - for the seventh time!

Published 403 days ago

Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the seventh time. At this rate Jeremy Paxman’s score of 12 (against Michael Howard) is in danger.

Scancell - £8m fundraise at 12p. A bargain?

Published 403 days ago

My old (and terrible) tip from the 2015 New Year of AIM-listed Scancell (SCLP) has announced a placing. And there I was thinking that things were finally turning around, with the shares back up to 17.5p. The 12p placing and open offer is, on the face of it, at a huge discount of 31%. No doubt broker Panmure Gordon will rise to the incredibly difficult task of placing the shares out and earning its commission.

Vipera – recommended offer, a fair outcome?

Published 403 days ago

A recommended offer has now been made for “mobile financial services and digital customer engagement solutions provider”, Vipera (VIP) – this following it announced last month that Banca Sella was, “following recent discussions… contemplating making an offer”

Amur - Pathetic spoof

Published 403 days ago

After 16 years of missing targets and ongoing dilution, AIM listed Amur Minerals (AMC) is still nowhere near actually building its mine in Eastern Russia and still does not have a single institutional shareholder. The only folks who still believe in this stock are mug punter private investors and that means the only funding available is via bucket shops or death spirals. Right now it is the latter and hence the shares are in a steady retreat - right now just 4.5p to sell. At this rate, losing 1p a month, the shares will be trending towards zero by the summer so its time to panic and go into mega spoof.

Advanced Oncotherapy: …and for the sixth time

Published 404 days ago

Another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again. What is happening with the Blackfinch loan which had a 12 month term starting on 24 March last year, a loan which was secured on the company’s Harley Street premises? And has the company actually received any cash at all from its white knight saviour Yantai Cipu in China?

Advanced Oncotherapy – asking for the fifth time, and another question

Published 405 days ago

This really is getting a bore. For the fifth time, I ask what is happening with the Blackfinch loan which had a 12 month term starting on 24 March last year, a loan which was secured on AIM-listed Advanced Oncotherapy’s (AVO) Harley Street premises. And for a fifth time I am asking if the company has actually received any cash at all from its white knight saviour Yantai Cipu in China. But first, there is a question raised by Drunken Sailor.

Ariana – gold production update, still a buy - do the maths!

Published 405 days ago

AIM-listed Ariana Resources (AAU) served up a gold production update for its first quarter of 2018 (to the end of March). This is not the quarterly report for the period, which we are told is due in early May, so it is a little light on details but the production news is excellent.

Looking forward to the UK Investor Show – my shopping list

Published 406 days ago

Less than a week to go to the UK Investor Show and it promises to be far and away the best yet. If you’ve not booked a ticket you’d better hurry up – they are running out fast. Lob in the promo code SP10 and you’ll get a freebie investor class ticket  – you can’t say fairer than that! Looking down the list of companies present, I have already compiled a list of who I want to see and also what I am doing on the day.

Advanced Oncotherapy – first mover in the UK? Er….

Published 406 days ago

My thanks to two eagle-eyed ShareProphets readers who have posted in the comments sections of my pieces asking about AIM-listed Advanced Oncotherapy (AVO) and its funding from Yantai Cipu in China, and the now expired, secured (on Advanced’s Harley Street premises), Blackfinch loan. We’ve still not heard a thing about either which is rapidly drawing me to a conclusion as to the answers. Not to worry: I’ll ask (for the fourth time) again tomorrow. But, with big hat-tips to Drunken Sailor and Daniel Victor, it seems that Advanced isn’t even getting over the line at Harley Street before two other proton therapy centres (one of which is up and running already) come on stream. It seems that first mover advantage has already been lost.

Advanced Oncotherapy – still no answer to my questions, but does the market know something I don’t?

Published 408 days ago

I have asked the same questions of AIM-listed Advanced Oncotherapy (AVO) twice before but there has been nothing forthcoming from Advanced Towers. Here we go again, on the day that marks three weeks from the end of Advanced’s loan from Blackfinch, a loan which is secured on its Harley Street premises and a loan which has not yet been announced to have been paid back. Advanced may be coy about answering, but it seems the market has been voting with its feet.

Make an Appointment with Possible Share Success By Clicking on this Giant of the Texting World

Published 409 days ago

Hello, Share Jammers. Recently, I’ve suggested that one of the less obvious, but telling, signals for a company in a fine state of health is the strength of its customer base. If that amounts to a few obscure orders, there could be limited growth. But if there is an A-list of clients, you can bet some big high-power brains have analysed the company and found it to be worthy of custom.

Soaraway Tern explodes higher, but what of value?

Published 411 days ago

Well I’m glad I removed AIM-listed Tern plc (TERN) from my list of slam-dunk sells for 2018 when the company announced it had binned its death spiral, and instead raised cash from a placing. I still don’t think it has enough cash, but apparently the market disagrees and the share have shot massively higher – from a low point of just over 2p in February, 4p by the end of March and now they sit at 9.85p (having peaked at 11.25p). What of the value of the investment?

Ariana – Tavsan resource update

Published 412 days ago

AIM-listed Ariana Resources (AAU) has offered an update on its gold resource at Tavsan, part of the Red Rabbit joint venture in Turkey which also includes the already producing Kiziltepe mine. There is plenty of good news.

Advanced Oncotherapy – what of that Blackfinch loan (which was due on 24 March)?

Published 413 days ago

It is now a week into April, yet AIM-listed Advanced Oncotherapy (AVO) has not updated on its loan from Blackfinch which was due to be repaid – I thought – at the end of March. In fact, it appears that the loan matured on 24 March. Worse, the loan was secured on Advanced’s Harley Street site and, it seems, the equipment earmarked to be installed there. One wonders what would be left if Advanced lost that. Surely a statement is a fortnight overdue as to what is going on?

Minoan – FY17 results (a week late…)

Published 415 days ago

AIM-listed Minoan (MIN) is one of my two share suggestions for 2018, and I hold the shares myself. This morning it released its FY results to last October: we had been promised them in March, but clearly the concept of under-promising and over-delivering simply hasn’t landed in this particular boardroom. However, there seems to be progress and although still promising jam-tomorrow, it does look as though the fleet of delivery lorries may be on the way (although from an unknown distance away).

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

Published 416 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.

Pipeline Firm Seems to Be Cooking on Gas with Bumper Orders in the ...erm, Pipeline

Published 416 days ago

Hello Share Chasers. There aren’t many companies launching on AIM which have such a stable provenance as Fulcrum Utility Services (FCRM). Until that change eight years ago, it was part of the mighty National Grid and its business is pipes and electricity cables. Not very glamorous work, you might say. But there’s excitement building over the firm and its possible rosy future in the electric car adventure.

Advanced Oncotherapy – are the wheels coming off the Yantai white knight bailout?

Published 417 days ago

Yesterday AIM-listed Advanced Oncotherapy (AVO) announced that the Long Stop Date for the completion of a Distribution Agreement with Yantai Cipu, already extended to 31 March, had been exceeded but discussions were continuing. This deal also involves the payment of £16.5 million to Advanced and it seems the cash is yet to arrive – indeed I wonder if the £13.5 million subscription cash arrived. That in turn leaves me wondering, yet again, what the cash position at Advanced is – and what about the £5.5 million Blackfinch loan which should have been repaid at the end of March (and is secured)? Are the wheels coming off the white knight rescue? Surely a full statement is needed?

Tom Winnifrith Bearcast: the investment case for gold and two shares I am likely to buy next week

Published 419 days ago

Tomorrow is the birthday of the Mrs so there may not be a bearcast. If not I shall be back on Wednesday morning ahead of a flight to New York on Global Shorting Conspiracy business. In today's podcast I look at why gold like my Wisdens is an investment. Then I discuss two shares in AIM stocks which, for very different reasons, I am considering buying next week and I'd like to thank one of my colleagues for - perhaps - giving me a chance to do so very cheaply. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH

Toff Tory Tim Yeo to go to court for £20m alleged AIM malfeasance - ring any alarm bells Sir Henry Bellingham MP of 3DM and Pathfinder infamy?

Published 419 days ago

The Sunday Times reveals that slimeball ex Tory MP Sir Tim Yeo and four other former directors of now bankrupt AIM duffer TMO Renewabales face a £20 million court claim from administrators Duff & Phelps. I do hope that Tory Toff Sir Henry Bellingham MP of 3DM infamy and Nick "Not for the Many but for the" Trew of Pathfinder Minerals (PFP) read the piece.

Filthy Forty Adamas – oh dear, the AIM farce continues

Published 422 days ago

Back last August I covered the non-payment of monies due to AIM-listed Adamas (ADAM) following the redemption of a convertible bond Adamas held in a Chinese company, Global Pharm Holdings Group. It was owed millions - to have been settled by April 2015 - and numerous revised and re-revised deals were signed – not that the cash materialised. More to the point, Adamas seemed to be having a spot of bother tracking down the Chairman of that company. And so to yesterday’s update….

Servision updates again and it is even worse news - another Kill for the Sheriff of AIM

Published 422 days ago

AIM-listed Servision (SEV) has updated the market once again regarding its suspension pending clarification of financial position. We had already been told that investors are unlikely to get much (or, indeed, anything at all) but previously a third party had expressed an interest in acquiring Servision Ltd (the operating business) – good(ish) news, but for Servision Ltd having come under the bankruptcy protection of the Israeli court. We were told yesterday that the court rejected an application from Servision plc to pursue a sale. Oh dear.

Inspirit – or insolvent? 2017 Interims

Published 423 days ago

AIM-listed Inspirit Energy (INSP) has released its interim accounts to December 2017. We are told the company is pleased to announce its interims. What there is to be pleased about rather escapes me – the company is drowning in payables and has hardly any cash left (if any at all).

Bowleven Interims: cash is still there, drilling next quarter

Published 423 days ago

AIM-listed Bowleven (BLVN) has this morning released its interims to December 2017. Of note is the huge reduction in administrative expenses and the binning of the deal with AIM-listed Victoria Oil and Gas (VOG) with regard to the Bomono asset in Cameroon.

Conviviality - Reports of Corporate Death premature but only just

Published 423 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.

Tern – FY17 numbers: sorry to sound like a broken record, but when's the placing?

Published 425 days ago

AIM-listed investment company Tern plc (TERN) announced its full year numbers for last year. It is not quite the record-breaking speed of previous years, but getting them out before the end of March isn’t a bad effort. However….well, there are the excuses and then there is cash.

EXCLUSIVE: Confidential Letter emerges - Nick Trew of Pathfinder accused of lying to investors (again)

Published 425 days ago

Barely a day goes by when someone does not have a go at Nick "not for the Many but for the "Trew the man who has earned £170,000 a year for running Pathfinder Minerals (PFP) into the ground.

Cloudtag's Amit Ben Haim caught lying again - the cheque's in the post (honest!)

Published 425 days ago

Hat tip to reader A for bringing my attention to an industrial tribunal which shows Amit Ben Haim, the CEO of the fraud Cloudtag (CTAG), which was booted off AIM last year, caught lying blatantly. Amit...your pants are on fire.

Anglesey Mining – shares down 18% on no news, why?

Published 426 days ago

Well here’s a blast from the past! I used to hold a few shares in AIM-listed Anglesey Mining (AYM) some years ago. What caught my eye was the 18% share price drop on no news – the last we heard being its interims to September 2017, released back on 30 November 2017 when we were told us that now is the opportune moment to move forward with the development of the Parys Mountain base metal project. Blimey - after all these years! But what with?

Tom Winnifrith Bearcast: Yes we are in a bear market but don't panic and the Winnifrith Rule AIM must introduce for EGMs

Published 427 days ago

I look at a Winnifrith Rule AIM must introduce for board outsing EGMs ref Pathfinder (PFP), Magnolia (MAGP) and Conroy (CGNR) and I look at why we are in a bear market but why I'm not panicked. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH

Tom Winnifrith Bearcast - Will Jim Mellon's PR man say sorry for chewing my ear off over the Condor spoof - vindicated today

Published 429 days ago

On 6th December I said that a token share purchase by Jim Mellon of shares on Condor Gold (CNR) was a spoof as it was so small for Jim. Moreover Condor was running out of cash and would do a placing within months. Mellon's PR man chewed my ear off. Well hey ho today there was a placing.  A pattern of such spoofs and a subsequent placing has continued. Will I get an apology?  I also look at lessons from Flybe (FLYB) and the non bid, at Fevertree (FEVR) director share sales, at UK Oil & Gas (UKOG) which is also spoofing, 13 Energy (13E) - "you say it best when you say nothing at all " - R Keating.  Then I look at uber dog Golden Saint Resources (GSR) which is leaving AIM and says it wants to go to the Standard List. Lucky Standard List. I also mention our share purchase of more Optibiotix (OPTI). If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH

Bowleven – tip update, and it’s good news

Published 429 days ago

Shares in my Christmas tip-fest suggestion of AIM-listed Bowleven (BLVN) have had a strong run over the last few days, having notched up a high of 37.6p today, against a tip price of 30-31p. It doesn’t sound much, but you can’t sniff at a gain of 21.3% in three months (even if Wildes won’t get out of bed for that).

ShareProphets China AIM 'Filthy Forty' update – HaiKe Chemical Group exit extending losers edition

Published 430 days ago

Previously updating, we noted from HaiKe Chemical Group (HAIK) “intention to seek shareholder approval for the cancellation of admission to trading on AIM. This has now been for EGM approval...

UK Oil & Gas - forced into statement - don't these A'holes give a FF about AIM Rules?

Published 431 days ago

At 10.38 AM today I published a photo showing that UK Oil & Gas (UKOG) was clearly stopping drilling at Broadford Bridge.  The company should have issued an RNS this morning to say this was happening but what does Lyin' Steve Sanderson care about timely disclosure of price sensitive information?

Green & Smart - AIM investors robbed again

Published 431 days ago

Green & Smart (GSH) a biogas company from Malaysia is the sort of dog with fleas that has helped to make the AIM Casino the world's most successful growth market. In second place is the Upper Volta bitcoin exchange. Announcements over the past few days are a scandal but, as ever, no heads will roll.

Will anyone at Nomad FinnCap pay a penalty for its part in the massive Constellation AIM fraud?

Published 431 days ago

FinnCap likes to tell us that it is one of London's leading Nomad's. Okay lets overlook the Silverdell scandal where it insisted that it did nothing wrong as the company misled investors who then lost all their money but how about Constellation Healthcare? This may be off your radar as this company delisted from AIM in January 2017. But this is a massive scandal.

Inspirit – all’s quiet: signs of a problem?

Published 431 days ago

I note that things have been very quiet of late over in the boiler room of AIM-listed Inspirit Energy (INSP). Normally that might be seen as a good thing – the company quietly getting on with making shareholders money, and not getting bogged down in ramptastic RNSs. But I wonder if there is a nasty brewing here...

Cloudbuy – FY17 numbers are better (or less bad), but good enough to justify market cap?

Published 435 days ago

I just can’t help fearing for AIM-listed Cloudbuy (CBUY) and its shareholders. Here we are heading for two years after a £5.75 million rescue refinancing by Mr Roberto Sella and now post a further rescue refinancing last December (another £3.5 million committed, of which £1.7 million has been drawn) and I still wonder if the company will ever make any money. Yesterday morning we had its FY17 numbers: they are not as awful as the last lot, but it still look pretty bad.

Filthy Forty Haike Chemical – the long goodbye

Published 436 days ago

Anyone foolish enough to be a shareholder in AIM-China play Haike Chemical (HAIK) has until 1pm today to accept an offer for their shares at 30p. An EGM on 12 March passed resolutions to delist from the Casino, the execution scheduled for close of play on 19 March.

Bowleven – Crown Ocean still upping stake

Published 436 days ago

My second tip of the year, AIM-listed Bowleven (BLVN), announced on Tuesday that major shareholder Crown Ocean has once again been upping its stake – it now holds 29.03% of the equity. I took the cue and did the same (though not 29%!). Crown Ocean is, of course, the shareholder which rocked the boat last year and forced out the old board by calling two EGMs and supported the new fellas as they proposed to turn the company into a holding company with rather lower costs.

Tern – a partner for Device Authority. No financials today, but…...

Published 439 days ago

AIM-listed jam tomorrow investment company Tern plc (TERN) has announced that its principal investee company, Device Authority, has a new strategic partner in the form of NSE-listed (National Stock Exchange of India, not the NYSE!) Larsen & Toubro Limited. It looks like a big player but…..

Minoan updates (at last!) on sale of Travel division and Cavo Sidero. Buy

Published 439 days ago

No-one could ever accuse AIM-listed Minoan (MIN) of doing anything quickly, but this morning’s announcement appears to suggest that things are finally moving. It is still speculative (both in terms of whether two deals happen, and how long they’ll take) but the shares are a buy.

Ariana – production guidance: good news

Published 439 days ago

AIM-listed Ariana Resources has released production guidance at its JV operation at Kiziltepe in Turkey for 2018. The big headline is that the forecast gold production has been upped to 20,000 oz, but there are a few more interesting nuggets to be found.

Servision admits that shareholders are fecked, another vindication for the Sheriff of AIM

Published 439 days ago

With its shares suspended pending clarification, long time aggressive accounting, cash guzzling, AIM uber dog Servision (SEV) has updated those dumb enough to hold its shares, despite all the warnings here, about the slide into the abyss.

Crusader Resources IPO should see plenty of interest

Published 439 days ago

Generally, I’m wary of the reasons for companies which are already listed on other exchanges deciding that they want to be dual-listed on the AIM market. This is especially the case when it comes to ASX companies operating in the natural resources sector, as in general the track record for those hasn’t been great, with often very little of substance being achieved despite large sums being raised on AIM. There are exceptions though...

Breaking: Novum aspires to be the bucket shop of choice: Beaufort Corporate broking team set to sign this morning

Published 440 days ago

It is not yet a done deal but my sources tell me that the corporate broking team led by Jon "for 5% I will raise cash for any old crap" Bellis from shamed Belfort Securities, now in administration, has this very morning just arrived at Novum Securities.

Scancell – things seem to be picking up for this awful share tip

Published 440 days ago

I admit it: this has been a very poor tip, dating way back to the ShareProphets Christmas/New Year tipfest at the end of 2014 when I offered AIM-listed Scancell (SCLP) at 31.75p. Much of what I was looking for came to pass  - apart, that is, from an offer for the company or one of its cancer-busting platforms. And a few things went wrong.

Milestone – shares now below nominal: what are the chances of getting a placing away?

Published 443 days ago

I see that AIM-listed Milestone Group (MSG) has had its shares marked down below their nominal price of 0.1p today: they are now 0.09 – 0.1p bid to offer. Given that the company has a desperate need for cash, that’s a problem – especially when it passed on the opportunity to put resolutions for a capital reorganisation to its forthcoming AGM.

Tern – placing; death spiral ends. Good news?

Published 444 days ago

AIM-listed Tern (TERN) has announced a placing this morning, raising £650,000 (gross) at 2.55p, and that it has terminated its death spiral facility with immediate effect. This is very good news indeed. I don’t suppose shareholders will be feeling the love just yet, given the destruction of Tern’s share price since last summer, but at least the rot seems to have been stopped.

Andalas, Alan Green's podcast and the shitty bottom end of AIM sleaze

Published 444 days ago

Andalas Energy (ADL) should be issuing a statement about its own solvency and other matters flagged up HERE. This company, as it stands, is insolvent. But this is AIM so instead....

Sabien Technology – looking back over a (correctly called) Steve Moore dog

Published 445 days ago

Thumbing through the top list of losers today I can’t help but notice that AIM-listed Sabien Technology (SNT) is top dog, so to speak, having dropped 36% today on no news. I wonder what is behind this drop! Does somebody know something?

Yolo Leisure – why are the shares off 18%, and at a discount to NAV of c. 65%

Published 446 days ago

I can’t say I know alot more about Yolo Leisure & Technology (YOLO) than I’ve learned in the last hour or so, but on no news the shares are near the top of the ADVFN losers leaderboard at -17.65%. I wonder why. 

Karelian – oh dear! With Beaufort gone, who will do the placing?

Published 450 days ago

AIM-listed Karelian Diamonds suddenly seems to have a bit of a problem. Its broker, Beaufort Securities, is now in administration and deemed (by the FCA) to be insolvent. But Karelian has a big hole in it’s balance sheet, as explained HERE.

Big Sofa – Big Fundraise at a Big Premium, Company chat

Published 450 days ago

Tom Winnifrith and Cynical Bear have been battling it out over AIM-listed Big Sofa (BST) for a fair while. Cynical worries about the company running short of cash, Tom is interested in the growth and points to the fact that Sofa is about to turn profitable (according to the company). In the middle of all this, I have a few shares myself and have been wondering what to do (and so did nothing!)

Milestone Group – what’s in the Annual Report? Ah yes, the Auditor’s report!

Published 450 days ago

I had a flick through the 2017 Annual Report released by AIM-listed Milestone Group (MSG) yesterday. Having noted the missing auditor’s statement in the results RNS, let’s see what it says.

Milestone Group – Black Cactus watered down (or is it a graceful exit)?

Published 451 days ago

Yesterday afternoon two RNSs came out from AIM-listed Milestone Group (MSG). At 4pm we were notified that the 2017 Annual Report had been published, as had the AGM Notice. But at 3.07pm a rather more interesting announcement was issued regarding Black Cactus. Yes folks, that’s the one we’ve been waiting (and waiting and waiting) for. You will no doubt remember that Black Cactus is the outfit of Larry (who has not got an Oxford Maths Degree) Cummins, and that Milestone had agreed a deal with it whereby it would get a few quid in commission and new shares worth 29.5% of the company. Now we are told:

Karelian Diamonds – Interims: when’s the placing, and what about related party payments?

Published 452 days ago

Yesterday the good professor Conroy’s elder child, AIM-listed Conroy Gold and Natural Resources (CGNR) released its interims to last November and it needs cash. Today it is the turn of little brother, Karelian Diamonds (KDR) and the picture is no better. And as you shall see, there is an air of one insolvent partner funding the other. At least, that’s how it looks. And I wonder about the maths….

Conroy Gold and Natural Resources - Interims : oh dear, oh dear, oh dear

Published 453 days ago

AIM-listed Conroy Gold and Natural Resources (CGNR) published its interim accounts to 30 November 2017 this morning. Ignoring the jam tomorrow (we’ve seen that all before) it is clear that the company was up to its eyes in debt, not that chairman Prof Richard Conroy was bothered by that as he introduced his chairman’s statement with “I have great pleasure in presenting your Company’s Half-Yearly results”. He’s pleased – but I doubt any shareholder with half a brain cell will be.

Hemogenyx shares soar 117% after two tweets - is this the new RNS? Surely this is a bit naughty

Published 454 days ago

Is @HemoGenyx the corporate account of HemoGenyx (HEMO)? Sadly PR poltroon Paul "Queenie" McManus of Walbrook and pouting brokerette Lucy Williams of Peterhouse have yet to return my calls as I pose this question. But since the lamentable Walbrook has tweeted directed to @HemoGenyx in the past they are either complete idiots (well they are) or that is all the confirmation one needs. Which makes the last two tweets on this account all the more outrageous. You can see them below. Bear in mind there has been no supporting RNS.

Milestone Group – FY17 results a dog’s breakfast, is it INSOLVENT yet?

Published 458 days ago

AIM-listed Milestone Group (MSG) has this morning posted the most awful set of results. Having been on the AIM Casino since 2003, the company clocked up losses of £2.26 million on revenues of a paltry £24,640. Retained losses stood at a jaw-dropping £33 million and the audit report (needless to say, missing from today’s RNS) contains, we are told, a material uncertainty paragraph. I should coco.

ShareProphets China AIM 'Filthy Forty' update – HaiKe 'geong, geong' & soon to be gone edition

Published 458 days ago

Previously updating, we noted HaiKe Chemical Group (HAIK) potentially in the 'geong, geong' stage. There has since been developments - and what does the 'Filthy Forty' look like now?...

UPDATED: Servision - shares suspended pending clarification, i.e its fecked! Told y'all

Published 459 days ago

"CEO Gidon Tahan, ex broker Beaufort Securities, Auditors Hays Macintyre, PR himbo Christian Taylor Wilkinson, lacky Nomad Nick Athanas of Allenby, financiers Yorkville, the Bulletin Board Morons we have beaten them all, we have beaten them all!). Servision, can you hear me? Servision ... your boys took a hell of a beating! Your boys took a hell of a beating!"

Ariana Resources - company chat

Published 461 days ago

Following a company chat with Ariana Resources (AAU), I thought I would report back on a few things which came up...

Cloudtag tells its dumb investors that it will relist - blames Nomad Cairn for AIM exit

Published 462 days ago

If you were dumb enough to own shares in the fraud Cloudtag (CTAG) before it was booted off the AIM casino you will swallow any old horse. If proof was needed of this two investors, from the Shareholders Group committee, met with the company's CEO Amit Ben Haim and its IR man Jamie Bligh on 13 February. The minutes are a hoot and can be accessed below.

Bowleven – game on? If not, the ref’s whistle is in his mouth

Published 462 days ago

I’ve been banging on occasionally about how AIM-listed Bowleven seems to offer value. I suspect that we will be off to the races shortly, for some detail of an appraisal drilling campaign in its 20%-owned Etinde field has been announced – and the company is carried through this campaign.

Milestone: ‘fesses up that January compromise deal settlement cash from 2016 non-placing still not arrived

Published 463 days ago

Way back in November 2016 I first commented on the fiasco at AIM-listed Milestone Group which eventually saw then CEO Deborah White handed a black bag. This was the placing, first announced in October 2016, where the £1.25 million of cash never arrived and which the company sat on news of non-payment until it ‘fessed up on the day Donald Trump won the Presidency. It was a good day to bury bad news – but as ever, ShareProphets was watching. Well, the cash STILL hasn’t arrived, even on the much reduced 10p in the £ compromise terms announced on 22 January this year and I think the company has again been tardy in passing on the news.

Haike Chemical – doop, doop, doop,…..another one bites the dust

Published 463 days ago

And so the ShareProphets AIM-China Filthy Forty will be down to just 7 members after Haike Chemical (HAIK) confirmed its previous suggestion that it may delist. The EGM is set for 12 March (in China, even though the parent company is registered in the Cayman Islands and listed on AIM), at which time we can wave bye-bye to another Chinese value destroyer.

ShareProphets China AIM 'Filthy Forty' update – 1 Geong, Geong & another now Gone edition

Published 467 days ago

Who's followed the likes of Geong International and co in 'Geong, Geong' and then Gone? Who's in the 'Geong, Geong' stage and what does the 'Filthy Forty' look like now?...

Karelian Diamonds – a lesson in reading RNSs: You've been spoofed - when’s the placing?

Published 471 days ago

AIM-listed Karelian Diamonds (KDR) rather bucked the trend yesterday when it put on 10.6% on a day the markets were again sinking. We all know Karelian needs a placing urgently, to keep the lights on. So what caused the rise? Oh, hang on, there are three RNSs which were released just after 3.40pm – and they are all good 'news', except for one small detail…

Proxama – a well-run company? Then I’m a banana

Published 471 days ago

This is comedy central. AIM-listed Proxama (PROX) put out an RNS after-hours last night (at 5.29pm) entitled Statement re Speculation and then ‘fessed up to a few problems at Companies House. I haven’t tracked down the speculation – perhaps some kind reader can point us all in the right direction. But well-run companies don’t suffer from this type of problem. The RNS read:

BMR Scandal - what about the November Placing? A Very Angry Bear comes a-calling

Published 472 days ago

Further to my pieces on the BMR Scandal, we might note that BMR completed a Placing via those fine upstanding chaps at Peterhouse Corporate Finance to raise £0.8 million at 2p, as announced on 14 November last year. This was, of course, when BMR knew – but the market did not – that it had received a default notice regarding its Kabwe project in Zambia.

BMR Scandal – Jubilee says it knew nothing of the default notice.

Published 472 days ago

Well, well. Yesterday AIM-listed BMR ‘fessed up that it had received a default notice way back in September from the Zambian authorities with reference to its Kabwe project. The company didn’t notify the market of that until yesterday, when it ‘fessed up that it has now been stripped of the license. So what of its joint venture partner, fellow AIM-listed Jubilee Metals Group (formerly Jubilee Platinum, JLP): what did it know?

Is this an early April fool video: The fraud Cloudtag is getting into blockchain?

Published 472 days ago

Remember the fraud Cloudtag (CTAG), booted off AIM after its Nomad quit after it told just one too many total lies? Perhaps this is a spoof but it seems that fitness bands are not the place to be, Cloudtag is getting into blockchain. Natch! 

SCANDAL!! BMR: loses Zambian mining right (of which it was forewarned but shareholders weren’t), shares suspended. What about the cash? What about Nomad W H Ireland?

Published 473 days ago

AIM-listed BMR updated the market at 1.15 this afternoon: it has been stripped of its Zambian Mining right and the shares are now suspended. And it seems the threat was known back in September, but the company didn’t bother to mention it.

Neil Woodford & his Related party pals at IP Group - another damning note from JCap

Published 473 days ago

I am really warming to analyst Anne Stevenson-Yang of JCap whose latest note on Neil Woodfords pals at IP Group (IPO) "Some Companies deserve to die" is a stormer. And she cites the great work done by Shareprophet (sic) in her report.

GOTCHA! Tern – update on Device Authority funding round. You sure you are telling us the whole truth?

Published 478 days ago

I have to say I’m puzzled by this morning’s announcement from AIM-listed Tern (TERN) regarding the proposed (and so far failed) funding round for Device Authority via US Capital Markets. Silly old me, I thought it was dead in the water – after all, an outfit called USCIM Fund XXXIII Device Authority LLC has been dissolved. I can’t find a replacement.

Ariana – Kiziltepe update: good news, buy

Published 479 days ago

AIM-listed Ariana Resources (AAU) has delivered its Q4 update from its joint-venture Kiziltepe gold mine in Turkey. The news looks to me to be very good on several fronts.

Tom Winnifrith Bearcast: Bruno Brooks, those 17 f*cks, Anthea Turner and today's RNS nonsense

Published 481 days ago

Yes indeed it is THAT Bruno Brooks, the one who was shagging Anthea Turner, etc, etc. who runs AIM uber dog Immedia (IME). I explain why its RNS today is the biggest F*ck of all. I also explain why no article on Julie Meyer today - I've been too busy cooking and serving poisonous pizza NOT! Then I look at Defenx (DFX) in some detail before having a butchers at another Neil Woodford dog Utilitywise (UTW).

Conroy Gold & Natural Resources: ShareProphets Translation service on today’s “business update”

Published 481 days ago

Delisted from the junior Irish market but still trading on AIM, Conroy Gold and Natural Resources (CGNR) has put out a business update. The ShareProphets RNS Translation Service, having already had a field day on Telit this morning, is on a roll (original in bold)….

Strat Aero, chairman, CEO and Chairman & founder walk plank, training unit canned just six weeks after open offer

Published 482 days ago

Surely this is putting the cart before the horse. On 13 December long term,, AIM uber dog Strat Aero (AERO) launched an open offer to raise up to £510,000 at 0.035p ( to complement a £590,000 placing at the same amount. The offer was 81% taken up. Today came the bad news...

Five Slam Dunk shares to sell for 2018 – one month update

Published 483 days ago

It is time for a review of the five shares I put up as slam-dunk sells on New Year’s Day. Those shares were UK Oil and Gas (UKOG), Frontera (FRR), Tern (TERN), Telit (TCM) and Milestone Group (MSG). How have they fared so far this year?

Lenigas pal Yusuf Kajee of Afriag Infamy - Turn to pages 97,125,182 - ooh you are awful

Published 483 days ago

This is not the bombshell revelation about a high profile AIM promoter I promise for today. That will be later. But just for fun....Have you read the new book by South African investigative journalist Jacques Pauw? "The President's Keepers." 

Blatant manipulation of Physiomics share price via TR1 notifications

Published 484 days ago

Notifications of major holdings in the shares of a company are designed to keep investors informed of when large shareholders increase or decrease their position by a significant amount.

Cloudbuy – warns on revenue, when will the cash run out?

Published 486 days ago

AIM-listed Cloudbuy (CBUY) issued a trading statement yesterday in relation to the full year to December 2017. The good news is that bullshit earnings (EBITDA) will be broadly in line – ie a slight miss – at around half that of the previous year. The bad news is that revenues are below expectations. Uh-oh.

Avingtrans – Equities First is back

Published 486 days ago

It has been a while, but it seems that the hoods from Equities First Holdings LLC are back once again: AIM-listed Avingtrans (AVG) announced on Tuesday that one of its NEDs, Mr Ewan Lloyd-Baker, is handing over 300,000 shares for a two year loan. The text of the RNS (just as with Igas, Cloudbuy, IQE, Quindell, Optimal Payments (as was) and Angle) again fails to point out that from Mr Lloyd-Baker’s point of view the deal is non-recourse so he can throw in the towel at any time if things go wrong.

Tern - uh-oh, now a profit warning

Published 486 days ago

Having warned back on 7th November that AIM-listed Tern (TERN) was heading into the perfect storm, I note that the shares are now just 2.75p as against 4.375p then. We are just 3/8 of the way through converting the company’s death spiral facility whose identity is not disclosed, its principal investee hasn’t raised a bean via US Capital Partners, Tern has had to pony up more cash to it (having given a clear signal of cashflow the other way). And now we learn that Device Authority has seen 2017 revenues impacted by delays in both customer implementation schedules and customer restructuring. It never rains when it pours….

Karelian – house broker “very excited”. What for - placing commission?

Published 487 days ago

Prof. Richard Conroy's AIM-listed Karelian Diamond Resources (KDR) is apparently making house broker Beaufort Securities “very excited”. Obviously that is entirely because of the company’s ramptastic RNS (which saw the shares fall - why might that be?), and nothing to do with its train-wreck of a balance sheet and the bail-out refinancing it needs. No, it is not because Beaufort can see a nice commission cheque on the way.

BREAKING: Hey Milestone – anything you want to tell us? Oh, OK, we'll tell then...

Published 488 days ago

AIM-listed Milestone Group (MSG) has been up to its neck in controversy for over a year now, but I wonder if the company has had some bad news it hasn’t quite got around to sharing. This is regarding its blockshain spoofery (oops), I mean its software license agreement with Black Cactus Global Inc (Envoy Group as was) which we were told it had entered into on 6 December.

Frontera: WTF is “sustained deliverability” – where are the Ud-2 flow rates?

Published 489 days ago

Oh BBMs, lap up the nonsense coming out of AIM-listed Frontera (FRR) this morning. Please buy lots of shares, for there are lots more coming. We had expected an update on the company’s work on the Ud-2 well in Georgia, but this morning’s effort offered  no numbers to go on and some strange terminology.

Bowleven – hang on tight!

Published 489 days ago

I thought I’d do a brief update on the first of my share ideas for 2018 – AIM-listed Bowleven (BLVN). Brief, because not much corporate news has come out, but there were a couple of interesting TR-1s. Tipped at around 30-31p, the shares were 32.7-32.9p at Friday’s close – it’s higher (good) but I don’t think I’ll be selling yet to cash in the odd penny!

Tom Winnifrith Bearcast - Follow the Bear - top ten shorts reviewed & the sins of KPMG

Published 491 days ago

In today's bearcast I take inspiration from Roger Lawson looking at the sins of KPMG at Carillion (CLLN) and EMIS (EMIS), not to mention Quindell (QPP). What to do?  I look more at Dignity (DTY) and conclude that - having examined numbers from Beyond - the company is fecked. I look at the dumbest snowflake financial journalist going - natch he works for the Daily Mail. And I wonder should one follow the bears, I review the most shorted stocks on AIM and the main market including IQE (IQE), Debenhams (DEB) and Telit (TCM) 

Filthy Forty China Fraud Taihua – already off AIM, now Companies House is threatening strike-off

Published 491 days ago

I see that former ShareProphets AIM-China Filthy Forty play Taihua (TAIH) (note former, as it left AIM via tha HaraKiri route last May) has had an unfortunate missive from Companies House. This, of course, was yet another AIM-China play festooned in Red Flags, but an EGM waved through the AIM delisting as shareholders were told that major shareholders Messers Yin and Liu had signified their intent to purchase ordinary shares from other shareholders after the delisting.

ShareProphets China AIM 'Filthy Forty' update – 2 more Geong, Geong & soon to be Gone? edition

Published 492 days ago

Another to be de-listed and another “exploring options for the future strategy of the company, including a cancellation from AIM and continuing as a private company”. Who's next to follow the likes of Geong International and co in 'Geong, Geong' and then Gone?...

ShareProphets AIM-China 'Filthy Forty' – another one bites the dust, just 8 left (& another on its way)

Published 493 days ago

This morning it was announced that Alpha Returns Group (ARGP) has been unable to replace Roland Fatty Cornish as Nomad and that it is off to the AIM Execution Chamber over the weekend. With Haike Chemical (HAIK) having announced yesterday that it is considering (ie certain to) delist, that will be the ShareProphets AIM-China Filthy Forty down to just seven companies. They are still dropping like flies, then.

Haike Chemical – another Filthy Forty death on the way

Published 495 days ago

ShareProphets AIM-China Filthy Forty member (pro tem) Haike Chemical (HAIK) issued a trading update for full year calendar 2017 at 10am this morning. Uh-oh….

Ariana – making some noise, still a buy

Published 498 days ago

There has been a fair amount of noise coming out of AIM-listed Ariana (AAU) lately. The back end of last year saw news from its self-styled Hot Gold Corridor and now the focus seems to be raising the flag for its Kiziltepe site, which has been in production for 9 months or so – and we are due the next quarterly report from that in the next week or two. Meanwhile the gold price has been strong of late, and Ariana’s share price has benefitted – although there is a way to go to get to the target of 2p.

Victoria Oil & Gas – more on that (bad) after-hours Friday RNS

Published 500 days ago

Following my questions about the RNS released last Friday at 4.31pm by AIM-listed Victoria Oil & Gas (VOG) which saw a 20% share price drop during the auction, I have had confirmation of what actually happened from a reliable source. It makes a mockery of AIM Rules and MAR.

Kimberley Enterprises – get your bag of crisps now!

Published 502 days ago

An announcement just out from AIM-listed central and east European property developer Kimberley Enterprises (KBE) that it is proposing to delist from AIM also tells you that the company is utterly worthless. It’s bag of crisps time – if you can sell now and get anything above your dealing costs then that is what you should do.

Tern: draws second tranche of death spiral loan early…TIMBER!!

Published 502 days ago

AIM-listed Tern (TERN) has announced that it has drawn the second tranche of its death spiral loan early. The first tranche saw Tern’s stock marched down from over 5p to as low as just 1.75p. The starting point for tranche two is just under 3p and the shares have already notched up a low of 2.125p, although they have recovered to 2.5p as I write.

Victoria Oil and Gas: after hours Fri RNS – bad news, shares collapse in auction, but whose fault?

Published 503 days ago

I can’t say I know an awful lot about AIM-listed Victoria Oil and Gas (VOG), beyond its (still) pending farm-out deal with fellow AIM-listed Bowleven (BLVN) which continues to await approval from the Cameroon authorities. But I do know is a 20% share price fall and an unfortunate after-hours RNS looks pretty bad – both for the company and for AIM in general. The question is what went on and whether the company and its Nomad behaved badly, or whether it was simply the effect of the blind application of AIM Rules.

ShareProphets China AIM 'Filthy Forty' update – New Year, New Departures edition

Published 505 days ago

Another year, another set of de-listing developments amongst the (few) remaining ShareProphets China AIM 'Filthy Forty'. Who's next to follow the likes of Geong International and co in 'Geong, Geong' and then Gone?...

Tom Winnifrith Bearcast - taking on a company whose shareholders are some of the most moronic of morons

Published 508 days ago

In today's podcast I spend a lot of time looking at Pantheon Resources (PANR) - when is the next bailout placing? I make wider observations about this sector. There is then a direct challenge to Mileestone (MSG) about Lyin' Larry and to its Nomad Cairn Financial. I then look at Mila (MILA) and MySquar (MYSQ) commenting on how some AIM CEO's groom BBMs like peadophiles groom their victims. Sam Antar has made the same analogy . It is all about gaining trust.  

Tern - more funding for Device Authority, more sales for Mr D Spiral

Published 513 days ago

AIM-listed Tern has announced a further funding round for its biggest investee, Device Authority, totalling “up to” $1.7 million in the form of loans from existing shareholders. Tern is up for $720,000 of that, on top of the $150,000 announced at the back end of November. Whatever else, the proposed $10 million fundraise by DA which would have seen Tern get back $2 million looks to be dead in the water.

Filthy 40 China fraud Aquatic Foods – So long, and thanks for all the fish

Published 513 days ago

With apologies to Douglas Adams, as long predicted here on ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) didn’t get its 2016 accounts out and the AIM Executioner has done its duty. After six months suspended, it has been given the boot.

London Capital – a lesson in greed & the failure of the AIM listing system

Published 514 days ago

Friday’s news that London Capital (LCG)) was to move from AIM to the tertiary market that is NEX (and aptly described by Tom as the “lobster pot” although I’d call it “Hotel California market” in that you can “check in but you can’t check out”) was not greeted well by the market. In fact, the stock slumped by near half on the news (although it has to be said this was on nominal actual trading volume). At the closing price on Xmas eve (what a day to put out this news eh?) the market was just over £3 million. Set against net cash and ST receivables of just under £8 million at the end Jun stage and being conservative and adjusting this for say another £1 million of losses has the shares trading at less than half the net cash amount.

Why I would still avoid Range Resources

Published 515 days ago

Those who have been around the AIM market for a while will probably remember a company called Range Resources (RRL), and its infamous CEO Peter Landau.

Octagonal – CEO Gunn in an EFH-style deal? Is there trouble in the boiler room?

Published 522 days ago

Yesterday AIM-listed Octagonal (OCT) released a Director’s Dealings RNS. Nothing unusual about that, you might think, but the text was announcing that CEO John Gunn was taking a loan secured against his shares in the company. Is he doing an Equities First type of deal?

Tern – follow on investment into InVMA

Published 523 days ago

AIM-listed Tern plc (TERN) has announced a follow-on investment into InVMA totalling £125,000 to add to its previous investment of £250,000. All very well, but what happened to the expected follow-on of £250,000 at the end of October? It seems to be almost two months late, and only half the money. Why might that be?

Filthy Forty Alpha Returns Group – Nomad problems, shares suspended

Published 523 days ago

AIM-listed Alpha Returns Group (ARGP) is not only a member of our Filthy Forty, but also has an interesting past as the disaster that was Digital Learning Marketplace (DLM) under Angus Forrest (recently departed from Tern plc). Its Nomad, until 18 October, was ZAI Corporate Finance but ZAI lost its Nomad licence. So Alpha Returns turned (or, rather, returned) to Beaumont Cornish.

React Group and Nomad SPARK – about the FD

Published 523 days ago

A little bird emailed me with some interesting questions about AIM-listed React Group (REAT) and its new(ish) FD. In the light of the HotStockRockets update at the weekend (see HERE), where questions over the management’s ability to get their sums right were asked in the wake of a revised (downwards) trading statement, it seems that the FD has a few questions to answer – and I have some more.

EXPOSE - UK Oil and Gas: Lyin' Steve Sanderson, you are nailed

Published 523 days ago

Tom Winnifrith has voiced his suspicions that AIM-listed UK Oil and Gas (UKOG) has been playing fast and loose with the rules over timely announcements of conversions of its death spiral funding package. A trip to Companies House suggests he is right...

Minoan – fundraisings and corporate news

Published 524 days ago

AIM-listed Minoan (MIN) has followed up last week’s Trading and Financial update (covered by me HERE and by HotstockRockets HERE) with news of two fundraising and corporate news. The tin-rattling first: it has placed out 5 million shares at 6p to raise £300,000, and as I speak W H Ireland is running an accelerated bookbuild to raise up to a further £1 million. Meanwhile, the company says it has received credible approach which may (or may not) lead to the sale of its Travel and Leisure business. (Hooray for Mystic Deputy Sheriff!)

Draganfly – AIM POS “pleased to announce” interims. Hang on to the asbestos suit!

Published 524 days ago

I last covered AIM-listed Draganfly (DRG) HERE and concluded that it was one for the asbestos suit and a very, very long bargepole. Now, almost 15 months on, its (afterhours, natch) interims caught my eye. Apparently the Board are [sic] pleased to announce them, and so is the Chairman. So they are good, right?

Notes from Underground: Get ready for your closeup

Published 525 days ago

One of the many arguments that I have lost with Tom is over the number of readers who reader ShareProphets on bank holidays and weekends. I always argued that the market is closed, so we should be too. Tom has argued that you guys are so obsessed that you'll sneak away from the Sunday dinner to listen to a Bearcast.

F40 Univision – “pleased to announce” interims to Sept. Opinion (profit) vs reality (cashflow)

Published 526 days ago

I am a bit puzzled by this announcement. ShareProphets AIM-China Filthy Forty play Univision (UVEL) is obviously “pleased” with the results, and with profits reported 133% higher on the same period last year and a major long-term contract win in the bag, who would not be pleased. Until, that is, you turn to the cashflow statement…

Minoan – no early Christmas gifts, but a good trading statement with lots to look forward to

Published 528 days ago

AIM-listed Minoan MIN) has issued a Trading & Financing Statement at 1.41pm. Happily, it does not look like a howler - good news there! Sadly there is no deal involving Cavo Sidero  - we will have to wait a bit longer for that. But we do get an update on its loan to Hillside and on trading at its travel agency, and we are told the preliminary results are expected to be in line with market expectation.

Tern – beating UK Oil & Gas hands down in race to the bottom

Published 528 days ago

AIM-listed Tern plc (TERN) seems to be a good few steps ahead of fellow AIM-listed UK Oil and Gas (UKOG) in the self-inflicted terminal slide as a result of signing up to a death spiral funding package. Indeed , on the day Tern announced the deal the shares collapsed from over 5p to under 4p. They now languish at 2.625p mid: Impressive stuff – unless you are a shareholder.

Chatting to the SEC about Larry Cummins of Milestone infamy as a CV liar goes to jail

Published 528 days ago

That Larry Cummins of Black Cactus is a proven liar is now widely accepted. What is stunning is that AIM listed Milestone (MSG) whose entire market value is based on the belief that a deal with Black Cactus is worth something has failed to comment. Maybe the Securities & Exchange Commission in the US will force its hand.

Aquatic Foods – Director resignation: rats leaving the sinking ship as AIM Execution approaches

Published 531 days ago

AIM-listed Filthy Forty play Aquatic Foods Group (AFG) has at last posted an RNS. Given that its FY16 accounts are overdue by almost 6 months, and its interims by heading for three, you would have thought we might have an update on that. But no: instead the resignation of Mircle Ching Chai Yap was announced. This chap has a spot of form….

Sula Iron & Gold - website issues gents?

Published 531 days ago

Sula Iron & Gold (SULA) appears to have done a transformative deal on Friday. I have asked Gary to have a butchers at what is now a cobalt play as I am too thick to understand it. I am a mere shareholder. Meanwhile its corporate website at http://www.sulaironandgold.com/ appears to have some er...issues. Im not sure this is fully compliant with AIM Rule 26. What do you think?

EXPOSE: Tern – time to ‘fess up over Tabot Harty and Device Authority?

Published 532 days ago

AIM-listed Tern plc (TERN) seems to have a spot of explaining to do – or, more particularly, its CEO Al Sisto. I refer to the presentation on the website of US Capital Partners in relation to the (so far failed) attempted fundraise by Tern’s principal investee Device Authority.

Notes from Underground: Do you hear what I hear?

Published 532 days ago

Another week where 7 out of 10 of the top articles are videos or Bearcasts. That's fine by me, it's a USP of ShareProphets membership and I'm glad that people are using one of the defining things of our site in such numbers.

Cloudbuy – more borrowing from Sella as alternative to insolvency: SELL

Published 534 days ago

As predicted HERE, AIM-listed Cloudbuy (CBUY) has again run out of cash and proposes to take further loans from white knight Roberto Sella to keep the lights on. Obviously the company wants all of its shareholders to approve the proposed deal – why is why it has called an EGM for 27 December. I’m sure all shareholders will want to break off from Christmas celebrations to attend. Not!

Ariana – more (good) news

Published 534 days ago

Shares in AIM-listed Ariana Resources (AAU) have been a pain since I recommended them back in February. They duly motored north, only for the steam to be well and taken out by a placing. I still reckon there is excellent value here and continue to look for the 2p mark to be achieved (again).

Rurelec – more bad news, examining further funding options

Published 535 days ago

AIM-listed Rurelec (RUR) has updated the market with regard to its dealings wth Energia del Sur in Argentina. In short, the cash ain’t flowing into Rurelec’s coffers.

Advanced Oncotherapy - saved by oriental white knight, but for how long?

Published 535 days ago

With a litany of Red Flags behind it, you might wonder that AIM-listed Advanced Oncotherapy (AVO) has managed to raise any money at all, but this morning’s news is – it seems – good news. Cash coming in (and large quantities of it) should pay down the payables nicely and give the company some breathing space – although we are told that the cash is still in China awaiting approval to be shipped out by the authorities. Followers of the ShareProphets AIM-China Filthy Forty might consider that as an indication that the completion of the deal is rather open to question.

Tern – don’t be fooled by the headlines

Published 537 days ago

Shares in AIM-listed Tern (TERN) seem to have stabilised after the bloodbath of last week, at 2.875p in the middle – having started last week at 4.5p and only in mid-August having completed a hugely discounted placing via Primary Bid at 6.6p. Ouch. This is all in response to the RNS last week announcing that it had signed up for death spiral funding. Yesterday, at 11am, Tern announced that was to issue 800,000 shares from the exercise of a warrant at 3p, and Alliance News picked up the story that Tern Issues New Shares Above Current Share Price To Settle Warrants. Don’t be fooled….

Tom Winnifrith - two share tip video from Greece - Tuesday AM (Today) on ShareProphets (paying subscribers only)

Published 537 days ago

Here is another reason to pay the equivalent of less than 2p per article and join ShareProphets. Today, not only will I be dobbing in another AIM listed company to the regulators but I will be publishing a video from here in Greece with two share tips. But it is for paying subscribers only. Surely that is worth £5.99 a month, less than 2p per article? Join now HERE for the share tips this morning and much more...

I know a company on AIM where there is insider dealing taking place today - does anyone care?

Published 537 days ago

A company on AIM received a bid approach late last week. I was made an insider on late Friday and have not told a soul or traded a share. So I know it has had a bid, the company and its advisers know and someone else knows too. 

Tern – is this why the shares have collapsed?

Published 538 days ago

I note the comments made by Cynical Bear as he analysed the stonking collapse in the shares of AIM-listed Tern (TERN) and wondered if this would be the worst ever example of the death spiral. It seemed that there was little untoward in the disclosed details of the funding package, but there is one omission which leaves me thinking that the collapse is set to continue.

Where now for Conroy dogs Karelian and Conroy Gold?

Published 538 days ago

I’ve been wondering what comes next for Prof Richard Conroy’s AIM vehicles Karelian (KDR) and Conroy Gold and Natural Resources (CGNR). From my review of their financial results to May of this year (see HERE and HERE) it is clear that they are both in deep trouble – they are running out of money fast and the results to last May show that quite clearly. Lord knows how bad it is now.

Tom Winnifrith bearcast: this time Neil Woodford is only talking 50% bollocks but what about Brokerman Dan on Ascent you ask?

Published 539 days ago

The publicity hungry, failing, fund manager Neil Woodford is all over the papers. On the markets he's right ( and bearish) but when discussing his own (failing) funds he is talking utter bollocks and I explain why. Brokerman Dan (Levi) has formed a shareholder action group on Ascent Resources (AST). I discuss his case against them and make a few suggestions to the company. I comment on R4E (R4E) on the disgraceful behaviour of Pathfinder Minerals (PFP), look at RM2 (RM2) and then finally at Sabien (SNT) which look either to be on the brink of a last gasp fundraise ( at a more than 99% discount to the IPO price) or of insolvency. In the same breath I mention Inspirit (INSP), another AIM boiler room dog that should be shot.

Conroy and Karelian lifestyle companies produce results in a sea of Red Flags. 2: Conroy

Published 541 days ago

Yesterday I described the FY17 results of Karelian Diamond (KDR) and a series of Red Flags to be found. Today we look at its stable-mate, AIM-listed Conroy Gold and Natural Resources (CGNR) and find a similar story. It is a car-crash festooned with more Red Flags.

Tern – forget the portfolio update, it’s a death spiral, stupid

Published 541 days ago

AIM-listed Tern plc (TERN) has issued a portfolio update RNS this morning, but that is not the story. It waxes lyrical about how well Device Authority is doing – but what about the $10m fundraising? Step forward the Statement Re Issue of Convertible Unsecured Loan Notes and Loan To Device Authority for that is where the real beef is. It’s not pretty.

Conroy and Karelian lifestyle companies produce results in a sea of Red Flags. 1: Karelian

Published 542 days ago

AIM-listed (and no longer on Ireland’s ESM market) Conroy Gold and Natural Resources (CGNR) and Karelian Diamonds (KRL) released full year results this morning. It is a double set of Red Flags for these two lifestyle companies of Prof Richard Conroy – and despite the latter having been floated off by the former, more Red Flags come into play with related party transactions. But the biggest sin of all is treating your own shareholders as utter muppets, which is where I start.

F40 Aquatic Food – where are the accounts? Month 5

Published 543 days ago

We are now a day from the end of November and STILL ShareProphets Aim-China Filthy Forty play Aquatic Foods (AFG) has not published its FY16 accounts, which are now a day short of five months late. Also outstanding are this year’s interims, which should have been out by the end of September.

Frontera – how do you keep armies of BBMs in suspense?….er, we’ll tell you later

Published 544 days ago

AIM-listed Frontera (FRR) has managed to get around to updating the market on its Ud-2 well in Georgia. To be fair, it did promise news by the end of the month. On the other hand, there are no flow rates. Had they been good, you can bet the numbers would have been there this morning.

Bowleven – departure of last standing member of old board announced - Good!

Published 544 days ago

AIM-listed Bowleven (BLVN) has announced that the one remaining member of the old board is to depart the scene at the company’s forthcoming AGM on 13 December. The company thanks Mr David Clarkson for his three years of “considerable” service and the valuable role in providing continuity following the boardroom clear-out earlier this year.

Minoan – waiting and waiting for payday

Published 546 days ago

I hold shares in AIM-listed Minoan (MIN), the ownership of which has proved a mighty frustration for years and years – first we had the almost interminable application for the resort at Cavo Sidero which was finally won and all appeals have now ended. But now we are waiting for the company to cash in….how long will that take?

Missed out on the Globo fraud fear not Gavin Burnell is backing another wannabe AIM "winner"

Published 547 days ago

Some folks have no shame. I talk not of serial promoter of dogs and frauds Gavin Burnell but of AIM Regulation who are allowing another Burnell backed "winner" to list. The high point of Gavin's career was of course Globo which he brought to AIM via an RTO, where he was a very well paid NED, made a killing selling shares and which was then exposed as a fraud HERE and went bust within 72 hours. Of course Gavin did nothing wrong. The CV gets better

Bowleven - is there value here? Crown Ocean thinks so

Published 549 days ago

I note that yesterday AIM-listed Bowleven (BLVN) released a TR-1 RNS from Crown Ocean – the rebel shareholder which threw out the old board earlier this year. It has increased its holding (again).

ShareProphets China AIM 'Filthy Forty' update – good riddance Northwest Investment Group edition

Published 551 days ago

Another month, another set of de-listing developments amongst the (few) remaining ShareProphets China AIM 'Filthy Forty'. Who's next to follow the likes of Geong International and co in 'Geong, Geong' and then Gone?...

Tonight's PrimaryBid offering is Premier African Minerals, deadline 9pm

Published 551 days ago

No advice is offered, but anyone wanting to take part in an underwritten fundraise into AIM-listed Premier African Minerals (PREM) with Primary Bid (which benefits us in a small way) can do so if they are quick: the deal closes at 9pm tonight.

ZAI fallout: no weddings, two funerals and two rescues at the gallows but AIM needs to come clean over GIPO

Published 552 days ago

I commented last week on the silence from four former clients of former Nomad ZAI Corporate Finance as weekend executions were lined up for failing to enlist a replacement Nomad. None of them had said anything since 18/19 October when ZAI was given its marching orders by the Oxymorons. This morning two fell to the advances of the grim reaper, but riding to the last-minute rescue of Ukrproduct (UKR) came Stand Hanson while Polo (POL) was saved by Allenby. You might picture Clint Eastwood and Paul Newman riding in as the trap-doors were released and a well-aimed shot at the hangman’s ropes frees the victims.

ZAI scandal – one last minute appointment of Nomad, but the bells are tolling

Published 554 days ago

As I write, it is now less than half an hour to the close of trading on Friday 17 November. On Monday, any company previously employing the services of ZAI Corporate Finance as Nomad which has not found a replacement will be booted off the AIM Casino. They include AIM-China plays Grand Group (GIPO) and Northwest Investment Group (NWIG), Polo Resources (POL) and Ukrproduct (UKR).

SDX Energy offers good upside potential with plenty of news flow - buy

Published 555 days ago

Whilst many private investors go chasing rainbows and hoping for one of their oil and gas exploration plays to hit black gold, there are actually a number of AIM listed outfits which are already producing, yet don’t seem to be as popular as they are unlikely to generate large share price rises overnight.

Karelian Diamonds – like Conroy, is it placing ahoy?

Published 556 days ago

AIM-listed Karelian Diamonds (KDR), like fellow AIM-listed Conroy Gold and Natural Resources (CGNR), is run by the good Professor Richard Conroy. Tom Winnifrith has exposed a pretty gruesome histoire at Conroy, but what about its little brother?

Frontera – where are the Ud-2 well results? Waseem Shakoor scathing

Published 557 days ago

Yesterday at 1.50pm (the back end of lunchtime no-one-is-watching o’clock) Caymen registered, head office in Houston, Texas, operations in Georgia but AIM-listed (why?) Frontera Resources (FRR) gave an update on its Taribani asset in Georgia. It has the drilling permit. Woohoo. But what about the Ud-2 well? Has the company been taking lessons from UK Oil and Gas (UKOG)?

Solo Oil – death spiral horseshit from Beaufort

Published 558 days ago

This morning AIM-listed Solo Oil plc (SOLO) announced a $5 million death spiral facility with institutional investors and arranged by Riverfort. It is a convertible facility with 8% interest, and an option to repay in cash (with a small penalty). Beaufort Securities (house broker) issued a note this morning. It is utter horseshit – shame on you.

West African Minerals: Founder Jim Mellon walks after, up to, £62 million spunked, and its nearly all over - sell!

Published 558 days ago

At 4.12 PM yesterday it was announced that my old friend Jim Mellon and his associate Gerard Holden had resigned with immediate effect from West African Minerals (WAFM). Old Jim founded the company and was its chairman. It is now almost game over for West African and the scores on the doors are shocking.

Filthy Forty Walcom – no silk purse, it’s a sow’s ear of a trading statement

Published 558 days ago

ShareProphets AIM-China Filthy Forty play Walcom (WALG) hasn’t provided as much entertainment as some of its fraudulent brethren, but yesterday’s trading statement – issued at 10.36am, so bad news – is a bit of a gift.

Filthy Forty Asian Growth Properties – another big payout ahead but it’s cheerio and an indictment of AIM

Published 559 days ago

ShareProphets AIM-China Filthy Forty play Asian Growth Properties (AGP) has announced that is it throwing in the towel on its AIM listing, and is to dispose of its assets and return the cash to shareholders. This is expected to amount to about 48p per share – to add to the huge dividends paid out over the last couple of years. It is, in many way, a startling result although the reasons behind the delisting cast a pall of shame on the AIM Casino and thus the London Stock Exchange.

Central Rand Gold - no pulse after all in the Peterhouse Parrot, bad news for Fatty.

Published 560 days ago

This must be a candidate for the AIM Casino’s shortest appointment as Nomad: Beaumont Cornish took the reins on 19 October (when ZAI Corporate Finance had its Nomad status revoked) and at no-one-is-watching o’clock on Friday (at 4.47pm) it announced that its shares would be cancelled from AIM first thing on Monday.

Tern – Oh dear, now former Chairman Angus Forrest dumps shares

Published 562 days ago

AIM-listed and perennial jam tomorrow Internet of Things (IoT) investment company Tern plc (TERN) released a TR-1 this morning, showing that former (and now fully departed) Chairman Angus Forrest has been dumping his shares. The stock has slipped a little on the news, but not enough to make me think that the full significance of this selling has really been appreciated by the market.

Rurelec – more on Peter Earl bid: It HAS fallen apart

Published 565 days ago

Still no statement from AIM-listed Rurelec (RUR) with regard to the potential offer from a consortium led by former boss Peter Earl which may or may not involve IEH Limited. Or was it InterEnergy Holdings. But just as my last piece went out, we got this….

Rurelec – confusion as Peter Earl bid appears to have fallen apart, or has it? Statement needed now!

Published 565 days ago

On 11 October AIM-listed Rurelec (RUR) put out an announcement regarding a possible offer led by former head honcho Peter Earl and involving a company which was named as IEH Limited which may or may fund the deal. Yesterday a company called InterEnergy Holdings said that it thinks it was the company referred to as IEH Limited, and that it has no intention of making as offer – and there is no comment at all from Rurelec. 

Tern – heading for the perfect storm: SELL.

Published 565 days ago

Cynical Bear suggested last week that all was not well with the attempted fundraising by Tern plc (TERN) principal investment Device Authority. Not surprising really, since the funding round is being conducted at a whopping premium to the value of Tern’s holding implied by its share price - investors who were convinced would be better off simply buying Tern stock. He also wondered what has happened to Tern’s investment in new portfolio member InVMA, into which Tern was supposed to be pumping a further £250,000 by 31 October. It is now November 7th and there has been no update. Why?

Concepta - at 8.25p worth 17.5p, according to house broker

Published 565 days ago

Beaufort Securities is house broker to AIM-listed Concepta (CPT) so you may prefer to take what follows with a pinch of salt. Also worthy of note is that it is owned by FIML (which is owned by a trust for Tom Winnifrith’s dependents) and just to keep Tom Winnifrith happy, here is what Beaufort has to say on yesterday’s disappointing Trading and Order update which he covered in yesterday’s Bearcast when he suggested waiting for the placing expected to follow before piling in.

BREAKING: Three rats desert the sinking fraud ship that is African Potash - but when did they jump? Oh dear...

Published 565 days ago

On 25 October the fraud African Potash (AFPO), now listed on the NEX lobster pot having been slung off AIM, managed to raise £60,000 gross (call it £45,00 net) at just 0.06p to keep the lights on. It is still drowning in liabilities and clearly insolvent. Hey ho, wind forward 12 days to today....

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

Published 566 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.

Frontera – pithy comment from Waseem Shakoor suggests doubt in Georgia

Published 567 days ago

On Friday AIM-listed, US-headquartered, Cayman Islands registered and operating in Georgia Frontera resources (FRR) released a Corporate Update on Progress in Georgia. As Waseem Shakoor observes, anyone who was hoping for actual production figures might be a tad disappointed, for what we got was delays and the commencement of a programme of study in relation to its Notice of Feasibility of Commercial Production as announced last April. Oh, and a nice shiny new presentation on the company website (if no countdown clock!)

Tom Winnifrith Bearcast: I really want to be sick, no I am not joking

Published 568 days ago

No I really want to be sick. The day started so well with Joshua, myself and more fit young mums making a paper image of Colin the Dog. But then I just got sick so hence the lack of content from me today. After this podcast goes up it is back to bed. On bear cast today a demolition of minus 99.5% lifestyle company Arian Silver (AGQ), 13 Energy (i3E), today's spoof from Magnolia (MAGP), a "fucked if I know" response from me on R4E (R4E) - a share we own - and a look at today's dire news from one of Jim Mellon's many AIM dogs FastForward (FFWD).

ZAI scandal: déjà vu for Nomad Fatty Cornish – 11 days to first fuck-up

Published 568 days ago

With ZAI Corporate Finance having lost its Nomad license, 12 companies were searching for a new Nomad all of a sudden, but four of the twelve are now suspended having failed (thus far) to attract the attentions of the Nomad community. However, for Roland “Fatty” Cornish it has been a case of déjà vu as it stepped up to the role for Alpha Returns Group (ARGP) – the AIM outfit formerly known as Digital Learning Marketplace (DLM) from which Fatty resigned as Nomad ahead of a questionable restructuring and CVA into the fine firm it is now.

ShareProphets China AIM 'Filthy Forty' update – ZAI Nomad disqualification causing issues edition

Published 569 days ago

Since our previous update, ZAI Corporate Finance has had its nominated adviser status removed - causing further issues amongst the (few) remaining ShareProphets China AIM 'Filthy Forty'. Who will be next to follow the likes of Geong International and co in 'Geong, Geong' and then Gone?...

Aquatic Foods – the excuse this time for no accounts? Silence!

Published 569 days ago

And so it came to pass that ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) didn’t even bother to update the market at the end of October on the supposed progress towards getting its FY16 accounts released – accounts which should have been released by 30 June. The interims to June are also overdue, but there is no statement at all! Step forward those fine fellows at S P Angel, the company’s Nomad.

Echo Energy shares suspended after no insider dealing on AIM, honest guv!

Published 573 days ago

Shares in uber-ramped Echo Energy (ECHO) were suspended today after a sharp share price move on Friday forced an admission from the company. Hmmmm, heavy share dealing just before a big announcement. But this is AIM, the world's most successful growth market so that is just a total coincidence just like it always is on the casino. Move along gents..nothing to see.

Here's the easy way to pay sub 2p per article for ShareProphets & catch a hot share tip and 3 bearcasts from Tom tonight

Published 573 days ago

Tonight Tom Winnifrith serves up a special share tip and a bearcast special (one of three bearcasts today) only on ShareProphets. To access that tip ands the bearcasts you have to be a paid subscriber to ShareProphets. It only costs you £5.99 a month to get access which works out at sub 2p per article. Think how much our big red flag calls on the AIM frauds have saved you and hot tips like IQE have made you. Its a nil brainer....it's madness not to sign up especially with those THREE bearcasts and a hot share tip from Tom coming up today.

Click here and you'll be taken to a clear, easy subscription page.

Aquatic Foods – what will the excuse be this time for no accounts? Month 4

Published 573 days ago

Here we are again, with the last days of the month playing out and (as yet) no word from ShareProphets AIM-China Filthy Forty poster-boy Aquatic Foods Group. It missed the June 30th deadline to file its FY16 accounts and each month since then we’ve been promised news next month.

Tom Winnifrith Bearcast: Our big LONG play for the year is coming back & worrying about Malcolm Stacey

Published 574 days ago

This is a two part bearcast. In part one I discuss what is the biggest single investment we have made for a couple of years which comes back to the market this week. I explain why I am excited and why we have gone in big. Then I pick up on Malcolm Stacey's article yesterday on Day Trading. A) Don't do it and B) why this is one of many signs that remind me of the latter stages of the 2001 bull market. I recount my failings as a whistleblower then and why I am so depressed by the sordid antics of today's AIM

Tern – Director appointment dates???

Published 575 days ago

It’s not much to ask for any AIM-listed company to get its Companies House filings right, and consistent with its RNSs, is it? But then AIM-listed Tern plc (TERN) has had a few issues with this in the past. So, Tern, when did Richard Turner join the board?

Tom Winnifrith Bearcast: No fit young mums today so Cloudbuy - how much cash is left?

Published 577 days ago

Sadly it is half term so that weekly treat with Joshua is postponed for another seven days. Instead I look at Magnolia Petroleum (MAGP) as its shares hit new all time lows: boy that share consolidation worked well did it not? Then it is onto Challenger Acquisitions (CHAL) which is utterly fecked but why is boss Mark Gustafson not filling his boots with shares at 1p when he bought so ostentaiously at 20p+?  Then it is onto Cloudbuy (CBUY) which needs to fess up on its cash position, or rather lack of it. En passant I cover the spoof at On Line (ONL) and also revisit my earlier piece on AIM going underground.

The Underground World of AIM - Why a top broker has it a bit wrong

Published 577 days ago

A top broker, who shall remain nameless, has this morning had a go at AIM regulators. His ire is prompted by a meeting in a pub where Berkeley Energia (BKY) presented to retail investors. It was by all accounts packed which, since I am a loyal shareholder, pleases me. But I just do not understand what is wrong here.

CyanConnode - how late a director declaration?

Published 577 days ago

Yesterday at almost no-one-watching-o’clock (4.12pm), AIM listed eternal jam-tomorrow pain-today play CyanConnode (CYAN) posted a director declaration RNS. It being issued at 4.12 in the afternoon suggests an announcement other than routine, and when we look at the details we see information which surely should have been released one day short of six months ago!

Can we buy you a drink? Says Berkeley Energia

Published 579 days ago

I like Paul Atherley of Berkeley Energia (BKY). He is honest, likeable and capable and runs a company that looks very interesting indeed - yes we have a few shares!. That puts him in the 1% as far as AIM bosses go. And so here is a message he put out today,. If you are bored and fancy a drink next week and happen to be in the hell hole that is London...what Paul says in their message should get you excited about his company. Over to Mr Atherley...

BNN - PWC Report & Whitewash: on AIM wholesale wrongdoing does pay

Published 579 days ago

On 4 September shares in AIM listed China, er.. investment, BNN Technology (BNN) were suspended as the FD quit making serious allegations about founder and CEO Darren Mercer and CEO of China Ops Wei Qi. Today came the whitewash. Remember that shareholders not the board own any company.

Well spotted Roger Lawson - The Sharesoc man inadvertently discovers some big red flags at Rosslyn including a looming profits warning

Published 583 days ago

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.

Tom Winnifrith Bearcast - if Jersey Oil & Gas needs a 15-20% discount, what price the UKOG placing?

Published 583 days ago

I cannot blame Jersey Oil & Gas (JOG) for raising £20 million today. It's the smart move. But if it has to offer shares at a 15-20% discount when it's on a roll what sort of discount will UK Oil & Gas (UKOG) have to offer as it seeks to raise £5-10 million with things going badly wrong? I also look at MySquar (MYSQ) after today's article that proves FRAUD. What is not allowed on AIM these days? Would complicity in mass murder be a problem? I give up.

Chapter & Verse: How MySquar committed securities fraud on July 31 using related party companies

Published 583 days ago

It is clear that Nomad SP Angel does not care if its client MySquar (MYSQ) issues lies via RNS and it has not bothered to ask the one question that would show very clearly the Securities fraud committed by its client on July 31. It is a sorry state of affairs and I shall be writing to AIM Regulation and to the chairman of the LSE later to ask that SP Angel's license be revoked as it is clearly not fit and proper to run a public lavatory let alone be a Nomad. But now for John Meyer and his fellow dullards at SP Angel here is how your client defrauded investors.

Tom Winnifrith Bearcast: The Horse Hill Maths that just don't stack up for UKOG and that $15 million placing by Cornhill "outed"

Published 584 days ago

On the agenda today as I prepare for my weekly coffee morning with my baby son Joshua and the fit young mums is: Andalas (ADL) a joke broker note, MySquar (MYSQ) another RNS which is all smoke and mirrors and a desperate attempt to prop up the shares but SP Angel refuses to force the company to come clean on the lies in the last RNS and the fraud. Pathetic. I look at Interserve (IRV) and its latest dire news. We did warn you. I "out" the company that was truing to raise $15 million via Cornhill yesterday. I look at former ZAI clients whose days on AIM are numbered and finally I read across from yesterday's Horse Hill trade involving Regency (RGM) and Alba (ALBA) to show just how monstrously overvalued is, out of cash and desperate to place,  UK Oil & Gas (UKOG) 

Tom Winnifrith Bearcast: Another slam dunk lie in the MySquar trading statement - time for correction number 2

Published 585 days ago

Oh dear, oh dear. This is pretty simple maths although clearly beyond the wit of clueless Nomad SP Angel but in this podcast I demonstrate clearly another slam dunk lie in the MySquar (MYSQ) trading statement of last week and corrected version of this week. Time for another correction? But it gets worse. I remind you of what SP Angel needs to establish to show that MySquar only breached AIM Rules rather than committing wholesale fraud (ref July sales) but now suggest that its claims re September comparatives might bear scrutiny as well. And there are some very fishy rumours coming out of Singapore that SP Angel might consider as it decides whether to quit or not.  I move on to cover Paternoster Resources (PRS) after its latest bad news and explain why its NAV is illusory and then ask readers for help in outing which oil & gas stock Cornhill is raising $15 million for today at a discount of 12% to some share price or another.

Why an ASA complaint is such a major red flag - case study Sabien

Published 585 days ago

Natch the AIM listed uber dog Sabien (SNT) never got around to mentioning it but, like Purplebricks (PURP) today, it was censured by the Advertising Standards Agency, ASA, back in January 2013. Good companies just do not need to mislead clients.

Northwest Investment Group – heading for the knackers’ yard?

Published 586 days ago

With ZAI Corporate Finance losing its Nomad status on Thursday, its client companies are running out of time to book in a replacement to avoid suspension. And that brings us to ShareProphets AIM-China Filthy Forty play Northwest Investment Group (NWIG) – the investment company which, after seven years, has invested not a cent.

FRAUD: MySQUAR fesses up to error in profits warning but still will not answer the big question re FRAUD

Published 586 days ago

What on earth is clueless Nomad SP Angel thinking? Its client MySquar (MYSQ) last week issued a (lack of) profits warning which means that it has either committed securities fraud or merely a massive breach of AIM Rule 11. Investors need to know what its sales were in July (as opposed to the July-September average given) in order to know how bad this will be. I have pressed SP Angel to force a statement and indeed the retained broker Beaufort has - to its enormous credit - also pressed but instead...

ZAI scandal: first clients announce new Nomad, but ten facing suspension on Thursday

Published 586 days ago

Last week we had the shocking announcement of the culling of ZAI Corporate Finance as a Nomad by AIM, apparently due to a hip operation on one of its Qualified Executives. Of course, there is more to this than meets the eye, as discussed by Tom Winnifrith HERE. But aside from the actions of AIM as judge, jury and executioner – all behind closed doors – there is the issue of what happens to the clients of ZAI who use it as Nomad. Of twelve companies which announced they were looking for a replacement last week, we have now had two transfer – to Northland Capital Partners.

Tom Winnifrith Bearcast - I agree with Luke Johnson on shite small cap research

Published 588 days ago

I start with a look at the poverty of small cap coverage in the Sundays but then in general. Just where can you get quality objective material on AIM shares? Then responding to Malcolm's what he looks for in shares to buy, I go through a good look at what I look for in shares to avoid or short.

Central Rand Gold – nah mate, this Peterhouse parrot ain’t dead, he’s resting

Published 589 days ago

Central Rand Gold (CRND) is already suspended from trading on AIM and under AIM Rule 41 will be given the one-way trip to the execution chamber if it hasn’t sorted its problems out by 11 November. It is an uphill task, not to mention the striking off of its Nomad, ZAI Corporate Finance, as from 19 October. Now shareholders are being asked to sign up to a dilution to almost nothing, as outlined in yesterday’s 3pm RNS. What’s not to like!

Could UK Oil & Gas head back to 1p? Waseem Shakoor muses

Published 590 days ago

My good pal the bear raider Waseeem Shakoor posted a few thoughts on UK Oil & Gas (UKOG) this morning over at ADVFN. He, like Lucian Miers, is now well in profit but staying short at 4.6p. I explained in bearcast why he is right to do so. Here is Waseem...

Milestone is worthless: sell

Published 590 days ago

Nigel Somerville raises a red flag about AIM uber dog Milestone (MSG) HERE but is too nice a guy to point oiut just how worthless and overvalued this crock is. I am not so nice.

Rurelec – in the twilight zone as Peter Earl leads a potential offer

Published 590 days ago

Peter Earl, the former CEO of Rurelec (RUR), has come forward with a potential offer for the company. As bizarre development go, this is right up there with the best of them. Next up the re-appointment of Rob Terry to Watchstone (formerly Quindell)?

When facts change what do you do? If you are a MySquar owning moron you ignore the facts

Published 590 days ago

I bring you below a twitter exchange with a moron who owns shares in MySquar (MYSQ). There is no hope for some folks, they deserve an inevitable fate of poverty.

Milestone Group – surely not another dodgy share issuance?

Published 590 days ago

On Wednesday at 2.13pm AIM-listed Milestone Group (MSG) knocked out a TR-1 RNS. Nothing unusual about that, but hang on – what about the dates?

MySquar (target price 0p) - let's work when the cash runs out

Published 591 days ago

The first pressing issue with MySquar (MYSQ) is whether it has committed securities fraud or merely driven a coach and horses through AIM Rules or both. I hope that either SP Angel or Beaufort will force it to reveal July sales numbers to give us an answer. The next question is when does it run out of cash? Here is my best estimate.

Tom Winnifrith "well educated and well read" says MySquar boss Schaer as Pizza Hardman Atwater grills him

Published 591 days ago

The first question at the LSE Asylum moron-fest with MySquar (MYSQ) boss Erik Schaer was about me. Apparently the old rogue thinks that I am "well educated and well read." Well he ain't wrong. But flattery will get him nowhere. I sent Pizza Hardman Darren Atwater along to grill him and the questions only mount.

ZAI scandal – the rush to sign up a new Nomad already under way….for some more than others?

Published 592 days ago

In the wake of AIM’s shocking execution of ZAI Corporate Finance last night – announced not once but three times at 6.15pm – the collection of AIM-listed to-be-former clients of that Nomad firm has been keen to get a message out to the market that the search for a replacement is already well underway.

Exclusive: AIM Kills ZAI as a Nomad - the full story the LSE is desperate you do not hear

Published 592 days ago

At 5.45 PM yesterday Denzil Jenkins of the AIM Regulation team called Nomad ZAI. No-one answered so he left a message on its answerphone informing the Nomad that it was to lose its Nomad status at 6 PM that day and that its clients would be contracted at that time with the news. Jenkins followed this up with an email saying that ZAI could appeal but when you are going to lose all your clients what is the point? In fact the events of yesterday are just part of a story which shows AIM in a terrible light as a secretive and oppressive body covering its own failings with scapegoating and showing no regard for natural justice or any sense of fairness.

Haydale – up to £9m fundraising on (piss poor) results release day...TIMBER!!

Published 592 days ago

AIM-listed Haydale (HAYD) joined Applied Graphene (AGM) on the heavily discounted fundraising trail yesterday from the graphene sector of AIM (albeit it has other products as well). Not only has it announced its full year results to June, it offered the begging bowl at not less that 120p per share. Given that the stock closed last night at 176p, it suggests that the company was expecting a frosty reception. At the low point the stock was trading down 54.5p at 121.5p before a recovery to 125.5.

Breaking: Central Bank of Ireland calling in witnesses in Conroy Gold Enquiry this week as ESM quote surrendered

Published 593 days ago

It is bad enough that Conroy Gold & Natural Resources (CGNR) faces a potentially massive stock overhang as it tries to arrange a placing to pay the bills but it is now facing an upping of the regulatory ante. Perhaps that is why Conroy has today announced it is surrendering its joint quote on the ESM and being listed on AIM. Or maybe that is just to save cash?

When is stealing $2.4 million not a sackable offence? When you are chairman of an AIM company of course!

Published 593 days ago

Well it is now official. It is perfectly acceptable for the chairman of an AIM listed company to take $2.4 million of a company's cash without permission. You and I would call taking someone else's (that is to say shareholder's) money theft or stealing. But on AIM it is simply an unauthorised loan. Pas de probleme mes amis!

Photo Article - Teeling Distillery Dublin ( Bearcast on tour)

Published 596 days ago

You may know John Teeling from a host of small AIM stocks like Botswana Diamonds (BOD). But his real passion as been his whiskey businesses. I should say that my friend and comrade in veterans rugby is a non drinker. The Teeling distillery in Dublin is just two years old and is actually managed by John's two sons but the old man takes a massive fatherly interest. I recorded a bearcast in the offices there on Friday but also had a tour of what is a working distillery. You can too and if you are in Dublin I'd recommed it big time. I sould declare that Jon did not try to bribe me with any free samples. But it is never too late and he has my address..

Tern – was Device Authority’s NAV £2m or $10m as at FY16? Does It depend on whether you want to invest?

Published 596 days ago

Having taken another look at the website of US Capital Partners (who are raising cash for Device Authority Ltd, currently majority ownerd by AIM-listed Tern plc) I see the sale is now advertised. I note also that  (on time) Device Authority Ltd has itself filed account for 2016. Now in theory, one would have thought the numbers would bear some form of resemblance….after all, they are for the same company in the same period. So what gives?

Conroy Gold and Nat Res: look at the timeline over Warrant Exercise and Placing

Published 596 days ago

I have a question for Professor Conroy, of AIM-listed Conroy Gold and Natural Resources infamy. Tom Winnifrith tells us that the paperwork for the warrants exercised by him and by his sidekick (which were announced on Wednesday last week) was filed last Sunday. We also learnt yesterday that the cash went straight back out of the kitty to repay Conroy/Jones by settling director loans - apparently ahead of term. 

A glimmer of light at the end of the tunnel for Ferrum Crescent?

Published 597 days ago

Regular readers here will know that I’ve not exactly been a big fan of Ferrum Crescent (FCR), but there could now be a slight glimmer of hope for anyone trapped in this serial underperformer.

Frontera – that Primary Bid placing

Published 598 days ago

Well, well, what a surprise: AIM-listed Frontera Resources (FRR) has raised cash in a placing. Well OK, it is not a surprise at all. As I pointed out HERE the works programme of the company was going to cost a few quid which it simply did not have. As we shall see, the workover rig out at the Ud-2 well in Georgia has prepared the site for testing of gas bearing intervals but until last night there was no money to pay for the testing.

Management Resource Solutions Fined £85,000 by LSE but this is a whitewash and cover up

Published 598 days ago

Management Resource Solutions (MRS) has today been fined £125,000 (reduced to £85,000 for co-operating with the LSE) for lying to investors back in 2015. But this is a whitewash and a cover-up protecting the establishment. The LSE notes that only the FD remains from 2015 and finds he was blameless. Cock. There is no censure of the Nomad (Northland) which was reckless in its lack of due diligence. How do I know this? Because it took me 30 minutes of internet research to expose this scandal back in April 2015 HERE.

BREAKING: Conroy Gold & the evil Prof try to rig GM by illegally adding shares to voting list

Published 598 days ago

At 2 PM yesterday, Capita Registrars signed off on a shareholder list at that point as being those who could vote at Friday's GM called to oust fat cat bosses Professor Richard Conroy and his henchwoman Maureen Jones from Conroy Gold & Natural Resources (CGNR). Shortly before 2 PM the Professor called Capita and added 500,000 shares to the register - probably enough to swing the vote. What he has done is wholly illegitimate and must be reversed at once if Capita, Nomad Allenby and AIM Regulation give a damn about their own rules and common justice.

Frontera – dodgy RNSs which don’t add up

Published 599 days ago

I’m getting terribly confused about the recent conversions by YA II PN (aka Yorkville) of Series A Preferred Convertible Shares in AIM-listed Frontera (FRR). I refer to the 2017 interims and the recent RNSs announcing the conversions.

Midatech Pharma – a reader asks what we think (it’s not good….the curse of Neil Woodford (again)

Published 599 days ago

I have to say I haven’t come across AIM-listed Midatech (MTPH) until now. However, with interims results just released perhaps I could get a handle on it. The problem is that the interim report has a few gaping holes in it, all of which leaves a strong sense of unease. The unease in increased when I note that the recent bailout placing (at a whopping 31% discount) showed up Woodford Investment Management as a major holder. Oh dear, not a good start….

Oi Milestone now tell us about that missing £1.25 million

Published 600 days ago

Having correctly predicted that useless AIM rule breaking Deborah White would get the order of the boot as CEO of Milestone Group (MSG) my first question for her temporary replacement Tony Sanders is whatever happened to the missing £1.25 million?

InternetQ - what are the dodgy bubbles hiding now - accounts overdue....

Published 602 days ago

In December 2015 from my winter base in Greece I ran a series of articles, starting from Athens with Love, which, I believed, quite clearly showed that the Greek, AIM listed company InternetQ (INTQ) was a fraud. Specifically I demonstrated that its music streaming business Akazoo was a sham. The company denied this and in the end its boss Panagiotis Dimitropoulos and fund manager Tosca paid c£20 million to buy out minority shareholders and take InternetQ private. It is now called Akazoo Ltd. The Sheriff is still on the case

Tom Winnifrith Bearcast: EVR has all the hallmarks of an AIM stock promote & its £75m valuation is crackers

Published 602 days ago

EVR Holdings (EVRH) is beloved of Bulletin Board Morons but is rightly lampooned by Cynical Bear earlier today HERE. I look at it and note that it has all the markings of an AIM stock promote and that its valuation, £75 million, is absurd and makes it ripe for shorting. Then I ask if £15 million is too much to earn for eight years of FTSE 100 failure? What about £43 million for eight years of success?

Filthy 40 Northwest Investment Group – Interims from the investment company that doesn’t invest

Published 603 days ago

Well here we are seven years (to the balance sheet date) on from the listing of ShareProphets AIM-China Filthy Forty play Northwest Investment Group (NWIG) and the interims are out. How close to meeting its investment policy is it now?

Zac The Knife utterly savages Mayan Energy

Published 604 days ago

Even by the standards of the City's No 1 oil analyst Zac "The Knife" Phillips of SP Angel this morning's note was a savage and brutal attack. Think of a hunter bludgeoning a baby seal to death. The object of the Knife's ire is AIM disaster story Mayan Energy (MYN) and the great man writes: 

Tern – ‘fesses up that Device Authority fundraise first close delayed, revenues tiny

Published 604 days ago

Well, well, well: last Friday I suggested that the fundraise advertised by Tern in an RNS dated 11 August which was expected to reach $2.5 million at first close by the end of September appeared to have run into some difficulty. A week later Tern has finally got arround to confessing that first close is now expected to be during October.  It seems that the company still needs a bit of help from ShareProphets Nomad Services.

Advanced Oncotherapy Interims: cash-guzzler extraordinaire but the tank is empty

Published 604 days ago

AIM-listed Advanced Oncotherapy (AVO) has released its interims results on deadline day. The highlights (if that is the right word) come from the cashflow statement, where cashburn appears to be almost £2 million a month. And then there is the company’s statement of working capital which, although technically correct, is a grossly misleading figure.

Filthy Forty Aquatic Foods - still no FY16s but at last an FD

Published 604 days ago

ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG) has at last appointed a new finance director to replace the previous incumbent who left all of a sudden as the company announced it was unable to release its FY16 numbers. Good news...er, well sort of.

AIM-China Grand Group interims (the day before suspension) – lots of cash, why no interest?

Published 604 days ago

AIM-China play Grand Group (GIPO) has released its interims to 30 June – one day ahead of the suspension of its shares on the world’s most successful growth market – about which there was no comment at all! This is therefore the last call to gain an exit ahead of suspension.

K3 Capital – placing of locked-in shares complete…..oh, and the buy-back is binned

Published 605 days ago

As Tom Winnifrith pointed out on today’s Bearcast, there seems to be no value in contractual arrangements any more. Shares subject to a lock-in? No problem, we’ll sell them anyway. And that brings me to K3 Capital Group (K3C). Like Tom, I have no idea what the company does and frankly nor do I care. But I do wonder whether things are going quite so well at the company in the light of this morning’s news. It wasn’t the sales which concerned me (although that was bad enough), it was what came with them.

Frontera - no reason for share price movement. Timber....

Published 607 days ago

AIM-listed Frontera Resources has watched its share climb from 0.1p to peak earlier today at 0.78p. No doubt the BBMs have celebrated their collective superiority and intelligence. Except that even the company now tells us that there is no reason for the rise. 

Forbes Ventures – an utterly pointless POS on NEX

Published 607 days ago

Looking at some entities on the NEX lobster pot isn’t necessarily the most edifying experience, but two RNSs released last night (after hours, natch) simply leaves ones mouth open. Where to start with this pile of junk from the corporate client list of Peterhouse? Is it the (stunningly) late FY16 numbers? Perhaps it is the related party disposals and acquisitions? Maybe we should look at the balance sheet (showing a MINUS). 

Westminster Group's paltry placing is not enough, Mr Market has given up

Published 607 days ago

At the weekend I flagged up that Westminster Group (WSG) was at death's door and needed a bailout placing ASAP. Today it announced that it has raised a paltry £750,000 gross at just 10p. Any company chaired by the loathsome ex Tory MP Tony Baldry, of 3DM infamy, is a no go for me but it seems that Mr Market agrees with the Sheriff. Here is why Baldry's Westminster is toast.

Tern – more acquisition news, but when’s the (yet another) placing?

Published 608 days ago

AIM-listed Tern plc (TERN) has announced that a new synergistic investment into InVMA, a key strategic partner for Device Authority. All well and good, but where is the money coming from?

AIM-China play Grand Group – end of the road in sight?

Published 608 days ago

A brief note to flag up that AIM-China play Grand Group (GIPO) has until the end of this coming week to comply with its investment policy or be suspended from the Casino.

Advanced Oncotherapy – interims preview

Published 609 days ago

Joining in with Cynical Bear’s run of interims previews, I thought I’d take a look at our old favourite, AIM-listed Advanced Oncotherapy (AVO). The history here has been nothing short of a disaster in the last 12 months or so, and appears to be now culminating in a potential cash-crisis.

China fraud Aquatic Foods – what excuse will be offered this week re overdue FY16 accounts?

Published 609 days ago

It’s that time of the month again: ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) seemed to promise its delayed FY16 accounts by the end of the month. In June the excuse was it couldn’t get its cash out of China, but the directors were going to pony up so as to pay certain advisers (ie the Auditor) and the results would be out in July. Oh, and the next day the CFO (who had been in post less than a year since the previous incumbent walked) resigned with immediate effect - having signed off the RNS.

Breaking: Regulatory Censure for Jason Drummond of Teathers infamy

Published 610 days ago

The following censure of Jason Drummond of Teathers (TEA) infamy is damning. It relates to his time at Media Corp (MDC) an AIM disaster story ending in bankruptcy. I think it is fair to say that Jason will not be sitting on any more AIM boards after this.

Tern: how’s that fundraising for Device Authority going?

Published 611 days ago

Some while back – on the 11 August – AIM-listed investment company Tern (TERN) offered up details of a proposed fundraising for its majority-owned investee Device Authority. We were told that a term sheet had been signed with US Capital Partners to raise new equity based on a pre-money valuation of $36 million, and that first close was expected to be in September, with a minimum subscription of $2.5 million. So why is there no mention of any of this on the website of US Capital Partners?

Nyota – a complete shambles and horror show as AIM completely disgraces itself once again

Published 611 days ago

Last night at 5.25pm Nyota Minerals (NYO) announced that its shares were being booted off the AIM casino. The roll call of shame on this one is appalling. We have AIM Regulation, broker Peterhouse and the directors of the company seemingly all at fault here, not to mention former Nomad Beaumont Cornish and two further Nomads, ZAI Corporate Finance and Allenby being dragged in. It is a true horror show. But rather than look in the mirror, the directors pointed the finger at ShareProphets – blame the media, the investigative journalists, blame evil Tom Winnifrith and myself, Nigel Somerville. This is shocking.

Concha – keep the lights on placing (by Peterhouse) at the dead of night. Or was it broad daylight?

Published 613 days ago

Last night it was announced at 4.43pm that AIM-listed investment company Concha (CHA) had raised gross proceeds of £420,000 in a keep the lights on placing at 0.35p. The company trumpets that it was at a discount of 8% to the close the previous day, which makes it seem good value, although the shares cratered from 0.57p at around 1pm on the day of the announcement. No insider dealing there, then. 

Frontera – YA cashes in convertible shares at 0.09p: share price madness!

Published 613 days ago

AIM-listed, Cayman Islands registered, Houston (USA)-based and with Georgia operations Frontera (FRR) has announced that YA II PN Ltd (aka Yorkville) has cashed in by converting convertible stock at just 0.09p. With the shares having raced up from sub-0.1 pence to 0.3625p earlier today, on the back of a series of soft PR interviews, website updates and corporate musical chairs, private investors are once again being screwed.

F40 China New Energy Interims: flagging a profit, cashflow statement says otherwise

Published 614 days ago

AIM-China play China New Energy (CNEL) is one of the few remaining members of our Filthy Forty still trading on the Casino. This morning saw its interims to 30 June 2017 released and it claims to have turned over hugely increased revenues of RMB 69 million (c. £7.7 million) and registered a net profit of RMB 17 million (c. £1.2 million) as against the market capitalisation of £6 million. So why are the shares trading 4% lower? Er…look at the cashflow statement! And the company wants to conduct a buy-back of its shares! Ho ho, what with?

BREAKING: Purplebricks fascist lawyers letters backfire as it's blocked from AllAgents.co.uk

Published 614 days ago

With 300,000 reviews, AllAgents.co.uk is the UK's largest independent site for independent reviews of Estate Agents by Customers. It has just taken the unprecedented step of not allowing Purplebricks (PURP) reviews because the AIM listed company was trying to "game" the system by using fascist lawyers letters. That tactic has now backfired in a spectacular fashion.

The future looks bleak for Ferrum Crescent - another placing isn't far from being needed!

Published 615 days ago

The lower end of the AIM market can be surprisingly predictable at times, especially when it comes to raising funds, so it often amazes me how many private investors get caught out when such news comes. That would certainly seem to have been the case with the recent fundraising activity at Ferrum Crescent (FCR) and the events leading up to that, even if many on the bulletin boards were in denial of what was coming.

BREAKING - Nyota no RNS as it may yet be saved despite AIM incompetence

Published 615 days ago

Nigel Somerville asked yesterday why Nyota (NYO) had not been booted off AIM having lost the services of its Nomad, Roland "fatty" Cornish. There has been no RNS so far but here is what is happening.

Nyota – how low has the bottom end of AIM sunk?

Published 616 days ago

Today is the day that Nyota was to have been booted off the world’s most successful growth market unless a replacement Nomad had been appointed, Beaumont Cornish having resigned in mysterious circumstances. Of course, today is a Sunday, so we should have heard something on Friday. But as predicted HERE, there was nothing. I guess the shareholders always knew where they stood, but now it is confirmed: you are at the bottom of the heap.

Table of shorted AIM shares - week to 15/09/2017

Published 617 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

AIM Listed Applied Graphene and the BIG LIE exposed: BTW it is Placing ahoy

Published 618 days ago

Companies that tell lies to investors are ones that should be avoided like the plague. If you pick a company up on one lie the odds are that there are stacks of others going undetected. That brings me to Applied Graphene Materials (AGM) where I will demonstrate a slam dunk lie. Then we will turn to its looming cash crisis.

Advanced Oncotherapy – is a family member of boss Dr Mike Sinclair worth £269,265?

Published 618 days ago

Shares in AIM-listed Advanced Oncotherapy (AVO) are still languishing well below the par price of 25p and the company must surely by now be running pretty low on cash. But a look at the FY16 accounts throws up some interesting questions over remuneration.

Monchhichi – More comedy from these jokers as it moves to the Sub-Standard List

Published 618 days ago

I was smiling for much of yesterday having read the announcement from Monchhichi (MCC) about its proposed cancellation from AIM and a move to the Sub-Standard segment of the Main Market. Let me explain why.

Why IQE is One of the Most Difficult Shares I've Ever Encountered

Published 618 days ago

Hello, Share Scrappers. One of Blighty’s most tricky shares, IQE (IQE) is still causing consternation in Shareland. After a long period of rising almost every day, there is some retracing going on now. I sold all my shares at 140p. Since then I’ve bought half of them back at around 155p. This was a mistake. But I’m not blaming myself because the good publicity for the microchip company keeps rolling in.

Frontera – shares rampaging higher over a website update?

Published 619 days ago

Shares in AIM-listed Frontera Resources (FRR) have been zooming ahead. Having raised the princely sum of £750,000 (including £250,000 from directors) one might wonder how much of that cash is left over already. That helped pick the stock up from a low point of less than 0.1p per share, but the news that apparently got things really going was the announcement that it has updated its website. Really?

Nyota Minerals – leaving it to the wire

Published 619 days ago

AIM-listed Nyota Minterals (NYO) seems to be leaving things to the wire with reference to the appointment of a new Nomad to replace Beaumont Cornish. The deadline falls over the weekend which presumably means that the guillotine should fall tomorrow if there is no news by close of play.

BREAKING African Potash Class action against Nomad Cantor - chocks away next month

Published 619 days ago

The whistelblower who assisted me in exposing the fraudulent statements made by lyin' Chris Cleverley and African Potash (AFPO) and signed off with no attempt to verify by Stewart Dickson at nomad Cantor Fitzgerald has now assisted those investors who want their money back. Praise be the Lord, Cantor is in the merde.

UPDATED: Don't be locked out from ShareProphets at Midnight TONIGHT! Sign up NOW!

Published 620 days ago

Evil Google and wicked Facebook have sucked all the advertising spend out of online media. We poor content providers do the creative work, the internet giants take the cash. And so we have no choice we must ask you to subscribe to ShareProphets or we must shut down. There are 297 reasons a month why you should pay as little as £5.99 a month for our content.

AIM-China Grand Group – a chance to bail

Published 620 days ago

AIM-China investment company Grand Group (GIPO) has divested itself of its investments and as such has until the end of this month to implement its investing policy or face a share suspension under AIM Rule 40. Another six months with no progress would result in a trip to the execution chamber.

BREAKING: Deborah White the rule breaking useless boss of Milestone to be out by the weekend

Published 620 days ago

Deborah White should have been fired as boss of AIM uber-dog Milestone (MSG) so many times. The company has been a serial non deliverer, shareholders have lost nearly everything and Debs has made out like a squealer being amply rewarded for her abject failure. Then last Autumn was the crime that should have seen her go to jail

Van Elle – argues first quarter “encouraging”, BUT…

Published 621 days ago

An update from Van Elle Holdings (VANL) ahead of its AGM today includes “trading in the first quarter of the financial year has been encouraging” and that the board “remains confident in its expectations for the current financial year as well as the long-term potential of the group”. Sounds encouraging…

Tasty – Interims leave a sour undertone

Published 621 days ago

AIM-listed restaurant group Tasty plc (TAST) served up its interims to 2 July this morning. Starters included good news that revenue was up 12% and that four new sites were opened. But the main course left a bad flavour in the mouth, reflected in the (last seen) drop of 12% in the share price.

InterQuest – shares suspended… but greater hope for shareholders?

Published 622 days ago

Shares in InterQuest (ITQ) have indeed been suspended after it terminated its nominated adviser and broker relationship with Panmure Gordon. However, following an “Update on nominated adviser and suspension” announcement, is there more hope for shareholders than initially feared?...

Rurelec – bad news from Argentina (again)

Published 623 days ago

At 4.18pm on Friday AIM-listed Rurelec (RUR) issued an Update – Energia del Sur, S.A. Judging by the timing of the announcement (more-or-less no-one-is-watching o’clock) it wasn’t going to be good news. 

Lessons from BNN, MySQUAR and Other Matters

Published 623 days ago

The BNN Technology (BNN) fiasco is rather a depressing reminder that it takes an event such as the resignation of a CFO, accompanied by some serious whistleblowing for NOMADs and AIM regulation to act, by which time it is invariably too late for the retail investor. This is largely because the system is inherently flawed in that NOMADs are paid by the very people that they are supposed to be vetting. This is why AIM is stuffed with BNNs ticking away like time bombs.

Stuttard’s Septic Seven – September update: minus 75%, what about replacements?

Published 623 days ago

Well here we are a few weeks short of the anniversary of the creation of out Septic Seven stocks which we had Red Flagged but were at the time still trading on AIM. Marcus Stuttard, the sham sheriff and head of AIM, obviously had complete faith in the regulatory setup of the Casino which is why this portfolio was set up. After all, if he is completely happy with the regulation of AIM (for which he is responsible), he should be happy to pony up his cash in out basket of diversified stocks. We might consider all members of the portfolio as littered with Red Flags, but obviously he doesn’t and therefore some of the joke PEs are highly attractive.

Table of shorted AIM shares - week to 07/09/2017

Published 624 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Gold and Silver moving north: Ariana taking comfort as it announces initial Hot Gold Corridor exploration

Published 625 days ago

AIM-listed Ariana (AAU) has announced completion of an initial exploration at its Hot Gold Corridor  in north-eastern Turkey. Full marks for the name of the prospect! You can read the technical stuff of the RNS HERE, but essentially it sounds as though they think they’ve got some good readings for from copper, lead and zinc readings which leads them to expect to find gold and silver and targets which are already being generated from detailed mapping.

Tom Winnifrith Bearcast: Audioboom, the Bulletin Board oil analysts - more folks to run the lavs at Athens bus station

Published 626 days ago

I covered the Interquest (ITQ) scandal in a separate bearcast HERE. If you like bad language or tales of AIM wrongdoing you will love it. Elsewhere I look at the latest utterly meaningless trading statement from Audioboom (BOOM). Why is its CEO Rob Proctor so averse not only to defending free speech but also to handing out metrics that actuially mean anything. He is another man for the job of lavatory attendant at the Athens bus station. And BTW this company is going to run out of cash AGAIN. I also look at Havelock Europa (HVE), UK Oil & Gas (UKOG) and 88 Energy (88E). Now SIGH UP FOR A HOT SHARE TIP FREE HERE NOW! 

Zac The Knife sticks it to Frontera Resources - it just does not add up

Published 627 days ago

The City's number one oil analyst Zac "the knife" Phillips of SP Angel has this morning torn into much ramped AIM dog Frontera Resources (FRR). I think you can take it that what the Knife means is BARGEPOLE!. Over to the great man:

Tern – Interims see shares continued decline

Published 628 days ago

AIM-listed jam tomorrow IoT investment company Tern plc (TERN) was pleased to announce its interim results to the end of June 2017. The company may have been pleased, but with the shares currently off by 17% clearly the market isn’t.

BNN Technology – another China disaster: shares suspended as are CEO and COO, CFO walks

Published 629 days ago

Lucian Miers can be heard singing in the bath this morning as shares in BNN Technology (BNN) have been suspended. In the last year alone the shares have dived from over 160p per share to the suspension price of 41p, at which its market capitalisation was still a whopping £94 million. Do the maths, at peak price that’s something like £360 million.

Sign the Petition and get Jim Mellon's AIM dog Condor Gold put out of business

Published 629 days ago

Social Justice campaigners SumofUs have taken on mining giants before and, as Newmont discovered, won. Now the campaigners want perennially cash strapped AIM dog mining minnow Condor Gold (CNR), which is backed by my old friend Jim Mellon, stopped from abusing and bullying Nicaraguan peasants as it tries to develop the low grade La India mine. 64,467 folks (including me, sorry Jim) have already signed the petition. SumofUs does not hold back in its critique...

LSL buys into Yopa. Bad news for PurpleBricks, or bad news for traditional Estate Agents?

Published 630 days ago

One RNS caught my eye amongst the plethora of after-hours announcements on Friday evening. At 6.05pm AIM-listed LSL Property (LSL) was pleased to announce (so why at 6.05pm on a Friday?) a strategic investment in an online hybrid estate agent

NEX Exchange: which Corporate Adviser’s been a naughty boy, then?

Published 631 days ago

A chance wander through the NEX Exchange website (formerly ISDX and Plus Markets) market notices page saw me turn up a NEX Exchange disciplinary notice dated 11 August 2017. I wondered what that was about and who had been done over, so naturally I took a look. The good news is that one Corporate Adviser has been hauled over the coals for failing to ensure its client company kept the market informed about important matters. The bad news is that it is released on an anonymous basis by the exchange.

Table of shorted AIM shares - week to 01/09/2017

Published 631 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Update: UK Oil & Gas – Regency dumps again

Published 632 days ago

This afternoon at 1.38pm came another RNS from AIM-listed Regency Mining (RGM). Having dumped 26% of its holding in AIM-listed UK Oil and Gas (UKOG) as announced yesterday evening, it has dumped a further 34.7% of the UKOG confetti it got from the sale of 1.9% of Horse Hill Developments to UKOG.

UK Oil & Gas - Regency Mines dumps 26%

Published 632 days ago

I noted the other day that if I were Andrew Bell, Chairman of AIM-listed Regency Mines (RGM), and was about to be handed £1.28 million worth of UK Oil & Gas confetti, I think I know what I’d do with it. Last night (after hours, natch) we learned that Regency had dumped 26% of its recently acquired holding in also AIM-listed UK Oil and Gas (UKOG).

Filthy Forty Aquatic Foods – still delayed FY16 results Jackanory

Published 633 days ago

Yesterday at 4.14pm ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) updated the market regarding its overdue FY16 accounts. Once again we are left waiting until next month – Godot is definitely coming tomorrow, honest guv, when the new FD is appointed. So nothing to do with the problems getting cash out of China to pay auditors, Nomad fees and director fees as we were previously told?

Frontera: after-hours placing and directors’ subscription

Published 634 days ago

At 4.46pm yesterday AIM-listed Frontera Resources (FRR) announced a placing raising £500,000 and director subscriptions for a further £250,000 all at 0.0975p per share. Compared to the 0.44p per share back in March, when commenting on the announcement of a possible farm-out or joint operation arrangement regarding the company’s Block 12 holding in Georgia (no sign of the deal yet, is there!) the company said it was suspending operations (operations which had already been delayed and tardily announced, according to Tom Winnifrith) I said if I were a holder I’d get on to my broker post haste and sell.

Filthy Forty Aquatic Foods – third time lucky with results, or will Nomad SP Angel resign?

Published 635 days ago

We are two days from the end of August and we’ve had diddly squat from ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) which is currently suspended pending accounts. In June it said they would be in July, and that directors were going to pony up to get enough bills paid to see the accounts signed. In July it hadn’t happened and there was no mention of it. Will the accounts appear this time?

BREAKING: New World Oil & Gas - Reynolds has saved the day: Redomicile to BVI underway

Published 635 days ago

Some folks appear to think that New World Oil & Gas (NEW) has been a failure for Adam Reynolds. Sure it got booted off AIM for failing to do an RTO but you still have a company and news is imminent.

Winner of the Bulletin Board Moron of the Week contest - sponsored by the AIM casino, the world's most successful growth market

Published 636 days ago

Like the AIM Market itself, there are aways an array of losers to choose from in the Bulletin Board Moron of the week.  Well actualy (TW here) that is yet more fake news from Darren. It really is time to fire him again and so he can go make up stories with his fellow Trump hating money tree worshippers at The Guardian or the BBC. There were only two entries last week. Come on folks surely you can supply more this week? Tell you what i shall offer a prize. Anyhow last week's winner was: 

New Bulletin Board Moron of the Week contest - sponsored by the AIM casino, the world's most successful growth market

Published 636 days ago

This week's Bulletin Board Moron contest is sponsored by the AIM Markets, the world's most successful growth market, now only slightly smaller than it was last year.

Table of shorted AIM shares - week to 24/08/2017

Published 638 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

UK Oil and Gas and Regency Mines – deal completes, which one is a BUY (if either)?

Published 639 days ago

UK Oil and Gas (UKOG) has completed the transaction with fellow AIM-listed Regency Mines (RGM) announced on 10th July under which a 1.9% shareholding in Horse Hill Developments Ltd heads to UKOG in a cash and shares deal.

A letter to Finncap CEO Sam Smith: are you a big supporter of insider dealing?

Published 640 days ago

Generally I would have thought that the CEO of one of London's biggest Nomads, Sam Smith of FinnCap, would have disapproved of insider dealing. It is, after all a criminal offence. But I am not so sure any more. After recent revelations at Telit (TCM) it seems Samantha does not think it is anything to worry about. I have dropped her a letter just to make sure and cc'd in the head of AIM Regulation, Mr Marcus Stuttard, as I am sure he and his colleagues the Oxymorons would like to know where Sam stands.

Nyota – suspended with no Nomad, Peterhouse lines up £550k at just 0.005p. Anything to see here, guv?

Published 641 days ago

Beaumont Cornish resigned as Nomad from AIM-listed Nyota Minerals (NYO) on 17 August with the caveat that it reserved the right to go sooner, as per Nyota’s RNS of 18 July. That statement also announced that Peterhouse subsequently also informed the company that it would resign as broker. Both stepped down as planned, leaving the company suspended on the Casino with bugger all cash. Wind forward to last night (after-hours, natch) RNS and as previously flagged on 15 August, Peterhouse last night was announced to have withdrawn its notice of resignation  and lined up a £550,000 placing at 0.005p. Meanwhile the company tells us that it is confident of appointing a replacement Nomad. It is full RTO steam ahead, then.

A Broker warns you on Bushveld... they do it with mirrors

Published 642 days ago

Once again I return to the subject of the company on AIM with the stupidest bunch of shareholders. The auditors of Bushveld Minerals (BMN) have stated explicitly that the company needs to raise fresh equity to avoid going tits up but shareholders respond by saying "how often have auditors got it wrong?" and a range of other excuses. They just do not get it at all, it is placing ahoy. Now the company has news today which the morons who own this stock seem to think is good. In a private email this morning a top City broker put it thus:

ShareProphets China AIM 'Filthy Forty' update – Pembridge Resources no deal complete, so move to standard listing edition

Published 642 days ago

Since our previous update, Pembridge Resources (PERE) has followed the likes of Geong International and co in 'Geong, Geong' and then Gone from the ShareProphets China AIM 'Filthy Forty'...

Ooh er MRS: CEO walks the plank, or was he pushed?

Published 643 days ago

A surprise announcement from AIM-listed Management Resource Solutions (MRS) at 9.49am detailing board and management changes. At that time of day it hardly looks routine and it wasn’t.

Bushveld - here's why your 27% stake in Vametco won't generate a cent of cash for the PLC this year and next - placing ahoy

Published 643 days ago

.Bushveld Minerals (BMN) shareholders, aka the dumbest fucks on AIM, are still largely in denial about the fact that a major placing is imminent. This is because they do not understand the difference between profit and cashflow or indeed much else about basic accounts. I will try again. Owning 27% of a company with modest EBITDA (bullshit earnings) is not the same as having a source of cashflow. In fact I bet you an ounce of Vanadium that Vametco will not generate a free cent for Bushveld this year or next.

New Telit Boss macho Yosi Fait in Leather Man action - caption contest

Published 643 days ago

Do you think Yosi got the machine below from Telit's (TCM) Vietnamese distributor of Internet products? In light of today's article on the former FD of the AIM fraud du jour, now its CEO, perhaps you can supply a suitable caption in the comments section below - deadline midnight Monday 21st. If you want more photos of burly men in leather check out Yosi's facebook page.

Stuttard’s Septic Seven – August update and news from African Potash

Published 644 days ago

It is August and Marcus Stuttard, the head of AIM, sees his portfolio of AIM stocks selected for him get to within 40 days of a full year. Out of the seven three have been booted off the market, one is suspended (no accounts) and the other was booted off AIM but got listed on the NEX lobster pot until it was suspended on that market as well. But Mr Stuttard is completely happy with the regulatory environment of the world’s most successful growth market.

Table of shorted AIM shares - week to 18/08/2017

Published 645 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Advanced Oncotherapy – how’s the cash position? Still a stonking SELL.

Published 646 days ago

After a stack of RNSs earlier this year, it has all gone quiet at AIM-listed Advanced Oncotherapy (AVO) since the announcement of the termination of the Bracknor death-spiral. How’s the cash position?

A letter to the chairman of the London Stock Exchange - why no independent review of the Telit fraud?

Published 646 days ago

You may remember that at the last AGM of the London Stock Exchange (LSE) its chairman,, Donald Brydon CBE, 'fessed up to being a ShareProphets reader and as we chatted afterwards he came over as a thoroughly decent man. But he has, yet again, been failed by his minions in their handling of the biggest AIM fraud of the year, so far, Telit (TCM). Lowly gofers such as the head of AIM Regulation, the fake Sheriff Mr Marcus Stuttad,  have allowed Telit to avoid any independent scrutiny of its accounts & business practices despite clear evidence of fraud. That has to change and maybe Brydon will push for that. I have sent him a letter.

AIM Dog Servision: another warning and it is death spiral and dilution frenzy ahead

Published 647 days ago

When serving up god-awful FY numbers on deadline day ( June 30th) it was shown that uber dog Servision (SEV) had serially misled investors and indeed told outright lies over the prior half year. Rover also served up its second profits warning in two weeks with the god-awful numbers and 'fessed up "Our working capital position is tighter than we anticipated" - I should cocoa. Today it got worse.

Cloudbuy interims – losses being cut, but will it be enough?

Published 648 days ago

AIM-listed Cloudbuy (CBUY) announced interims to June this morning. With the last tranche of rescue funding from Roberto Sella now drawn, and a 20% discount to any placing price still on offer it looks as though the company will have to pay its way pretty soon. The good news is increased revenue and falling admin expenses. But will it be enough?

Nyota – no-one is watching o’clock update: no Nomad, Peterhouse back in the frame and placing at a “substantial discount” if a Nomad can be found

Published 648 days ago

AIM-listed Nyota Minerals (NYO) announced a company update last night at no-one-is-watching o’clock. The good news is that we were watching, the bad news for anyone left holding the stock is that Peterhouse is planning to “unresign” itself if the company can attract a Nomad before it is kicked off AIM altogether, with a potential placing at a “substantial discount” to last night’s closing price.

News from the Boiler Room - £300k placing at 0.12p, conditional on GM at Inspirit

Published 648 days ago

7.45am Tuesday brought news of a placing by AIM-listed Inspirit Energy Holdings (INSP) for just £300,000 at 0.12p. Even that figure had to be propped up by a £50,000 contribution from (corporate Red Flag) CEO and Chairman John Gunn. It won’t last long, even if they get it through a general meeting to allow it to happen.

Nyota – last chance to get out

Published 649 days ago

Anyone still holding shares in Nyota Minerals (NYO) is staring down the barrel as suspension looms at the close of trading tomorrow, in the absence of the appointment of a new Nomad and Broker.

Telit - Oozi "resigned" the board the Boston fraudster appointed says no PLC fraud but FinnCap declines to agree

Published 650 days ago

Telit Communications (TCM) is spinning hard to suggest that all is well despite its founder, CEO and largest shareholder Oozi Cats being"resigned" today. It started by planting today's RNS in the ever pliant FT yesterday afternoon - the paper of record is now the mouthpiece for fraudsters wanting to spin a line. The timing of that FT plant now exposes the lies of today.  Now comes the formal statement and it does not wash at all and begs massive questions which are just not answered.

Ariana – gold price, production news and share price

Published 651 days ago

After my mea culpa of June 20th we have had further news. It has taken a bit of time to digest, but overall it looks positive to me, if rather laced with jam-tomorrow. With the share price finally off its low point of just 1.25p, let’s look through the detail.

Notes from Underground: Here's a buy recommendation: invest in moped shares

Published 651 days ago

London has a real table problem. At least the outdoor ones, and I don't see Mayor Sadiq Khan putting any effort into it.

Telit Communications: what the bears saw, it's about the balance sheet stupid

Published 652 days ago

After my earlier story about the covenant breach which is, I am increasingly sure, a smoking gun, I explore some trends shown by the financial statements of Telit Communications (TCM) that may have been some the red flags that resulted in hedge funds making Telit the most heavily shorted AIM company - this is all about the balance sheet. It also highlights why some type of fund raise, equity or debt, was almost inevitable in May - without it the lights would have been switched off by now.

Tern announces two fundraisings – how do they compare?

Published 652 days ago

After-hours yesterday AIM-listed Tern plc (TERN) announced two fundraisings – one via Primary Bid for its own coffers and the other a proposed offering via US broker US Capital Partners for its investee company Device Authority. Let’s compare the two.

Table of shorted AIM shares - week to 11/08/2017

Published 652 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week (see HERE) - you may note a sharp increase in the Telit (TCM) short position even though the shares have collapsed. The bear community smells a zero here, this is Globo all over again - note Tom Winnifrith's smoking gun of earlier & ignore it at your peril 

Snoozebox Holdings – when will the lender pull the plug?

Published 654 days ago

Snoozebox(ZZZ) interim results for the six months ended 30 June 2017 out yesterday showed a reduced loss of £1,006,000 down from £2,126,000 in the prior period. Worryingly for long suffering shareholders, the contribution to overheads was only £176,000 down from £986,000. 

RedX – Administration proposals raise awkward going concern questions

Published 654 days ago

The administrators to (suspended) AIM-listed RedX Pharma (RED) have published their proposals for the rescue of the group. The good news is that something will indeed be salvaged, but details of what went wrong look to raise serious questions of the company and its Nomad – none other than Cantor Fitzgerald. You might remember that name with reference to the African Potash (AFPO) fraud where it is to be sued for its negligence.

Lucian Miers chats to US Marshalls Office Massachusetts - Katz case not closed - a most generous offer to Telit boss

Published 655 days ago

As followers of Naibu (NBU) know there is nothing stopping the CEO of an AIM listed company being in prison while remaining in office. After all this is the world's most successful growth market and the head of the Oxymorons at AIM Regulation, Mr Marcus Stuttard, really is a top banana. As such fans of Telit Communications (TCM) will not worry a jot about this bombshell from infamous bear raider Lucian Miers, the Bard of the Boleyn.

Andalas - great news about the jam tomorrow, shares soar 45% but folks do know that it is bust don't they?

Published 656 days ago

Credit where credit is due. Andalas Energy (ADL) the AIM dog created to fund the lifestyle of Dave "Rule Breaker" Whitby has announced that it has signed a legally binding deal to develop the Jambi-1 30+MW independent gas-fired wellhead power facility in Jambi Province, Indonesia and to procure gas from Pertamina, the global fortune 500 national oil company. Andalas will have a 49% stake in the project and state owned construction outfit PT PP Energy will have 51%. So far so good but hang on Henry!

Equities First – the £18 million question over IQE

Published 656 days ago

It is almost three years since the Equities First Holdings story hit the headlines with the deal signed up with by Rob Terry et al at what was then called Quindell – now Watchstone (WTG) – whereby the sale of shares via a non-recourse sell and buyback deal was dressed up as a director share purchase.

Conroy Gold - sham GM result- rebels will call another, Prof Conroy your stockmarket days are numbered, the Sheriff of AIM is coming to Dublin to get you!

Published 657 days ago

I revealed on Sunday how Professor Richard Conroy had abused shareholder democracy at a sham of a GM for Conroy Gold & Natural Resources (CGNR). In preventing three rebels from joining the board when that is what shareholders clearly wanted he has shown himself no longer fit to run a PLC. I can only compare his pastoral care of shareholder rights at Conroy to that handed out by the Christian Brothers to their wards at so many boys homes across Ireland in darker days of old. The Professor shames Ireland and shames AIM with his antics. Conroy has today failed to fess up to exactly what went on and also what has happened since. Okay, he asked for this, the Sheriff of AIM needs to go to Dublin.

Nyota – former chairman selling again last week, now below disclosable 3%.

Published 657 days ago

Following my run for the hills at the weekend, we learn today from AIM-listed Nyota Minerals (NYO) that the former chairman dumped another line of stock last Wednesday (informing the company on Thursday) – 25 million shares. His holding – which started as 90 million shares in lieu of director’s fees – was down to 55 million. Since it is now below 3% he’s free to dump the rest without bothering the RNS system. 

Telit - as we often predicted this is the day the disaster unfolded, but can the CEO explain his £24m share sale?

Published 657 days ago

I am not sure if Neil Woodford had a big stake but Telit Communications (TCM) ticked all the other red flag boxes for AIM casino disasters waiting to happen. UK Investor Show attendees know that this has been high on the bear's hit list for a while. Today the train wreck happened and as I write, shares in what was the most shorted stock on the casino, are 39% down at 156p. But a £199 million market cap is still a rum and coke. The shares could be 20p and I still would not buy. Pro tem I count this as another big win for the Sheriff of AIM.

AIM dog Eastbridge goes bust having given all its cash to a conman on the run - who will take the rap for this f**k up?

Published 658 days ago

Peterhouse Corporate Finance, Mr Greg Colliar, crap Nomad Northland, Mr William Vandyk are you sitting comfortably? You sure? Now read on for yet another horror story emerging from the AIM casino....

Waseem Shakoor on Frontera – no money, no CPR due, no JV imminent, Varang walked?

Published 658 days ago

I’ve have a bear of AIM-listed Frontera Resources (FRR) for as long as I can remember. Perhaps it is the accumulated losses over the years of a whopping $479 million. Maybe it is the slide from c. 150p to the current 0.115p. Perhaps it is the boat load of confetti issued of late to settle debts. Maybe it is the delayed work on the South Kahheti gas assets. Whilst it seemed a slam dunk short at 0.42p per share (it was, now at 0.115p) there still seems to be more to go.

F40 Adamas - debtor not paying, (debtor) chairman vanishes. Oops

Published 659 days ago

Yesterday at 3.36pm ShareProphets AIM-China Filthy Forty play Adamas (ADAM) announced as update on a debtor. Judging by the timing it seems to be a bit of an unscheduled missive – and judging by the content, it seems to be a problem.

Table of shorted AIM shares - week to 04/08/2017

Published 659 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Highland Natural Resources: Company Meet & This is why you should all be with PrimaryBid

Published 661 days ago

Highland Natural Resources (HNR) did an offer with PrimaryBid less than a month ago at 12p. I suggested having a flutter and with the shares at 21.25p offer I feel 100% vindicated - I met up with Dr Robert Price earlier this week here in Bristol.

Stratmin to be booted off AIM as funny China money fails to arrive - will anyone pay for this other than shareholders?

Published 662 days ago

Oh dear. Oh dear. Another AIM debacle involving Chinese funny money. This time it is Stratmin (STGR). Its cunning plan was to do an RTO of Signature Gold and to fund that deal with a £5 million investment from Axel Management Group Pty Ltd. What could possibly go wrong?

RedX – administration update and a question over the interims

Published 662 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.

Jim Mellon 's Regent Pacific profits warning - premature ejaculation proving a bit of a cock up

Published 663 days ago

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).

Advanced Oncotherapy – ignore director buying, it’s a spoof

Published 663 days ago

AIM-listed Advanced Oncotherapy has announced a director buy of 100,000 shares (about £17,750 worth). Dr Enrico Vanni, a NED, has gone into the market and hoovered up a few more shares to add to the series of shares acquired earlier this year as the company tried (and failed) to defend the 25p (par) share mark in the face of the Bracknor death spiral sales. Now he’s back.

Table of shorted AIM shares - week to 28/07/2017

Published 663 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Advanced Oncotherapy - technological milestones, but what about cash?

Published 664 days ago

AIM-listed Advanced Oncotherapy (AVO) has announced that the final Coupled Cavity Linac (CCL) module (part of the LIGHT system) is ready for shipment to the company’s Geneva Testing facility. All very good news, no doubt, but what is the cash position of the company?

Echo Energy fires its broker - for doing the sensible thing & dumping shares

Published 664 days ago

Echo Energy (ECHO) the overvalued wannabee oil explorer has today announced that it is firing its retained broker Brandon Hill. This is most unusual.

ASA Resources – oh dear: shares suspended pending financial clarification, more wholesale theft and fraud on AIM

Published 666 days ago

AIM-listed ASA Resources (ASA), formerly Mwana Africa, has been getting into a right mess of late, with significant funds having been remitted from operating subsidiaries in Zimbabwe and not properly accounted for. Funds remitted to group entities in Hong Kong have not been accounted for and it seems  that the bank accounts in Hong Kong appear to remain under the control of two recently sacked directors, Mr Yat Hoi Ning (CEO) and Mr Yim Kwan (FD). It is an all too familiar story for followers of the ShareProphets AIM-China Filthy Forty: directors walk off with the cash, get sacked but can’t be reached. Now ASA tells us that it’s shares are suspended pending financial clarification – and a third director, Mr “Brian” Ching Fung Hung having gone AWOL has now also been removed from the board.

China fraud Aquatic Foods Group – joke RNS delaying (again) FY16 accounts and more Red Flags

Published 667 days ago

ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG) has released news of its delayed FY16 numbers in an (almost) no-one is watching o’clock RNS yesterday, released at 4.26 pm – 12.26am local time in China. Goodness me, they must have been putting the wording together for hours! Needless to say, there are still no accounts. In my view the whole thing is a joke and Nomad SP Angel is being made to look foolish: take a look at the directors’ page of the company website!

Nyota – former Chairman selling ahead of suspension - what a smart trade!

Published 668 days ago

Yesterday at 5.57pm this RNS was released by AIM-listed (for now) Nyota Minerals (NYO). It followed this RNS at 7am that morning. Nothing extraordinary, two TR-1s issued but it seems that former chairman has been offloading shares issued to him by the company in lieu of director fees in short order. 

F40 Origo – disposals: how’s the NAV doing?

Published 670 days ago

ShareProphets AIM-China Filthy Forty play Origo (OPP) has announced a couple of disposals. With the share price still languishing on a 2-2.25p spread, compared to the last quoted NAV in the FY16 accounts of 13c (US) – call that 10p per share. After a series of scandals over massive payments to the fund manager what now for the company with scheduled redeemable/convertible prefs after the dispute with Brooks MacDonald was finally resolved?

China fraud Aquatic Foods: crunch time?

Published 672 days ago

ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) shares were suspended last month because it couldn’t get its accounts out on time. We were told that this was because of difficulties getting its enormous cash-pile out of China to pay a number of parties whose assistance is required for the finalisation of the audited accounts. For that, we might presume that it includes the audit firm. We were told that the accounts were anticipated to be released in July – and here we are with 6 trading days left. Is it crunch time?

Advanced Oncotherapy – what is the position re Bracknor? Has it been paid off?

Published 672 days ago

Tom and I covered this the other day, but I wonder whether we’ve missed a trick with regard to AIM-listed Advanced Oncotherapy (AVO) and its dealings with death spiral sharks Bracknor. Immediately prior to last week’s funding news my back-of-an-envelope calculation was that Bracknor still held £1.95 million of loan notes and a further £0.7 million from fees. Given that Bracknor held little (if any) shares, why has it not beaten a hasty track to get the loans converted so that it can sell into the resulting strength?

Metal Tiger – “exciting possibilities” from Botswanan electromagnetic survey

Published 673 days ago

Metal Tiger (MTR) has updated on a preliminary interpretation of airborne electromagnetic geophysics data collected along 50km of the T3 Dome – a largely unexplored structure, where the company’s Botswana joint venture discovered the copper-silver deposit ‘T3’ last year.

Table of shorted AIM shares - week to 21/07/2017

Published 673 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Advanced Oncotherapy now just 10p to sell. When will Bracknor walk – or has it already?

Published 677 days ago

Cynical Bear wonders whether there might be a read across to AIM-listed Advanced Oncotherapy (AVO) from today’s news from suspended-pending-clarification Kin Group (KIN) in the wake of its announcement that its funding partner had walked because the share price had fallen so far. Certainly, given the cash-back situation for any loan note conversion by Bracknor into Advanced shares there looks to be a point at which the situation breaks down..

AIM-China Grand Group – oh dear, now the Chairman walks. Get out!

Published 678 days ago

AIM-China investment company Grand Group (GIPO) has announced the departure of its Chairman. It may not formally be one of our Filthy Forty, but it sure is doing its best to make the grade.

MySQUAR - the out of the money warrant exercise that tells you its placing ahoy and this is a slam dunk Norfolk

Published 678 days ago

For the second time in a week we have seen share options exercised at AIM listed Norfolk MySQUAR (MYSQ) - this time it is 1.875 million warrants exercised at 5.5p which will add £103,125 to the coffers. that is kind of handy for this cash guzzler which is close to running on fumes. But this is a spoof.

See you in Court Bitchez Odd one out Contest

Published 679 days ago

Okay this is easy as pie. I bring you a dodgy bubble, Roger Lawson (not for the avoidance of doubt a fraudster), the King of the fraudsters, lyin' Chris, the head of a formerly AIM listed POS where 1/6 of the staff were family members and Jimmyliar himself. Which is the odd one out  Post your answers in the comments section below with a deadline of 7 AM Monday Morning.

AIM-China Grand Group – anything to see?

Published 679 days ago

I’ve covered AIM-China Grand Group (GIPO) a couple of times already but there is something fishy about the share price movement over the last few days. Surely even Marcus Stuttard’s oxyorons at AIM Regulation will view what follows with some interest. Remember, the company claims to have about £25 million of cash as a cash shell and the market closed on Friday with the company worth just £2 million.

African Potash - will the fraud be thrown off NEX on Monday or will the establishment bend the rules for Lord Hain of Sleaze?

Published 680 days ago

To be thrown off one market because your adviser tired of signing off on lies is understandable, if you are a fucktard in AIM Regulation who does not care about fraud. But, to paraphrase my fellow Anglo Irishman Mr Wilde, to be thrown off two markets for that reason looks like carelessness. And that brings us to the fraud African Potash (AFPO).

Stuttard’s Septic Seven July update: when will it be two?

Published 680 days ago

Oh boy, it’s time to revisit Marcus Stuttard’s Septic Seven and we have yet another suspension. You will recall that this portfolio of seven diversified stocks from the AIM Casino was chosen for Mr Stuttard so that he might demonstrate his faith is his own regulatory setup at the world’s most successful growth market – but with the caveat that all the stocks selected had been Red Flagged but were still trading. In the week that the LSE washed its hands of any responsibility for fraud it is scores of the doors time, after not quite 10 months.

Table of shorted AIM shares - week to 14/07/2017

Published 680 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

AIM-China Grand Group – after the shares fall at last an update

Published 682 days ago

AIM-China play Grand Group (GIPO) may not be of the filthy forty for listing too late, but the share price has been telling you something, given the massive discount to cash on offer. I said on Monday that a statement was needed as the shares again collapsed. Today (at last) it has obliged.

UK Oil & Gas, the untrue RNS and a Nomad with no balls & not fit for purpose: WH Ireland

Published 682 days ago

Every AIM company must have a Nominated Adviser, a NOMAD, to retain its listing. A Nomad is an FCA regulated financial adviser which charges an arm and a leg as a retainer to ensure that every RNS issued is 1005 accurate and that the company also complies with all the other AIM Rules. Not, as the LSE has made clear, that there is any downside in breaking all the rules or telling outright lies. That brings us to UK Oil & Gas (UKOG).

Frontera – new Broker must mean placing ahoy

Published 682 days ago

AIM-listed Frontera (FRR) has announced the appointment of WH Ireland (WHI) as broker to the company. I’m sure they will be very happy together, but in the wake of a series of loan conversions to wipe out debt you might wonder if it is placing ahoy. The good news is that they even tell us that it is!

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

Published 682 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.

Parallel Media – update at no-one-is-watching o’clock: how do you lose 33% of the company?

Published 683 days ago

Last night at no-one-is-watching o’clock AIM-listed Parallel Media (PAA) slipped out a correction to its major shareholders listed in the recent full-year results for 2016. Actually, it was a major correction: 33% of the company!

Frontera – Directorate Changes: RNS Translation Service

Published 684 days ago

AIM-listed Frontera Resources (FRR) has announced that Steve C Nicandros is to relinquish his executive role as CEO but remains at non-executive chairman. After 21 years of service it is natural to look back and talk about the highlights, so the ShareProphets RNS Translation Team has been busy with today’s quote from Mr Nicandros. Original is in bold.

Milestone Group Plc – is Para & Co (UK) Ltd good for the money?

Published 685 days ago

This morning AIM uber dog Milestone (MSG) announced that a new investor, Para & Co (UK) Ltd, was providing a cash advance of up to £400,000 of cash via a convertible loan note as part of a total capital raise of up to £1.5 million for a maximum interest of 29.9% at a price of 0.29 pence per share. Nigel covered this earlier here but let's dig further into the affairs of this new investor. 

AIM-China Grand Group – shares collapsing, statement needed

Published 685 days ago

AIM-listed Chinese play Grand Group (GIPO) has had something of a chequered history even by the standards set by the Filthy Forty. It didn’t get in because it listed too late, but that hasn’t stopped the comparisons. It listed at 80p in January 2015 yet there appears to be a rush for the exit today, with the stock off by 32% at just 9.75p.

Strange Goings on at Milestone Group – funds in the door at .29p vs 0.14p prevailing

Published 685 days ago

AIM-listed Milestone Group (MSG) has had a colourful history recently when it comes to raising money. There was the cash which didn’t arrive which the company ‘fessed up to rather late in the day. There was an RNS dated 3 August last year which announced a placing which was already announced in the company’s Interims in June 2016. Now we have a new investor ponying up £1.5 million at 0.29p against a share price of 0.14p when the company was surely running on fumes.

The dubious modus operandi of MySQUAR boss Erik Schaer part 2

Published 685 days ago

Our recent coverage of AIM Bulletin Board Moron darling MySQUAR (MYSQ) HERE and HERE should leave you in no doubt that this is a piece of crap heading for 0p. At the heart of the issues are the related party deals  conducted with other Schaer companies which explain most of the "sales" MySQUAR reports. Earlier toady we ran a piece which exposed the dirty business practices of Schaer when he used to operate in the USA, as you can see HERE. Now for part two which shows what an A grade shyster the man is, another reason to exit this stock ASAP before it goes tits up.

MySquar - tell us about the CV of CEO Erik Schaer & why has he surrendered his US passport: part 1

Published 685 days ago

Our recent coverage of AIM Bulletin Board Moron darling MySQUAR (MYSQ) HERE and HERE should leave you in no doubt that this is a piece of crap heading for 0p. At the heart of the issues are the related party deals  conducted with other Schaer companies which explain most of the "sales" MySQUAR reports. Does Schaer walk on water? Er...let's look at his CV.But before we start I notice that he surrendered his US passport in 2015. I wonder why?

If all else fails - buy a lithium licence! The "business plan" for AIM joke Arian Silver

Published 686 days ago

When a tiny AIM company suddenly becomes popular all over Twitter and the bulletin boards, and without any real news to justify that sudden attention, then you have to question why it is happening.

ShareProphets China AIM 'Filthy Forty' update – the frauds scrambling to get 2016 results out in time edition

Published 686 days ago

Since our previous update, most of the remaining ShareProphets China AIM 'Filthy Forty' companies have been scrambling to get results out in time, two further have been suspended and another (MoneySwap) has been booted off the AIM Casino - to follow the likes of Geong International and co in 'Geong, Geong' and then Gone...

Table of shorted AIM shares - week to 07/07/2017

Published 687 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

China New Energy – AGM confirms placing fears

Published 688 days ago

ShareProphets AIM-China Filthy Forty play China New Energy announced its AGM today. As I suspected HERE the company’s full year results revealed a bit of a need for cash and the AGM notice (HERE) confirms that the company is leaving the door wide open on that score.

MySQUAR – three questions it cannot or will not answer

Published 689 days ago

After tearing apart this week's bogus trading statement from MySquar (MYSQ) HERE and HERE, the AIM listed POS has tried to pop up its falling share price today with another piece of PR non news. We can address that later but first I have three more questions that it can't and won't answer.

Cantor Fitzgerald, are you sweating yet over the African Potash fraud on your watch... tick tock

Published 690 days ago

Of course Cantor Fitzgerald is so large that it could afford to compensate all of the 70 or more investors working with Peter Petyt and this website to try to recover losses from the African Potash (AFPO) fraud. But the publicity of a case would be hugely embarrassing so sordid would be the revelations. Anyhow just 10 days more sweating for Cantor...there is an update from Petyt.

Tern – Statement re Device Authority and an acquisition

Published 691 days ago

AIM listed Tern (TERN) has announced couple of bits of news this morning. The heads of terms for the acquisition of Wyld Research for its flexiOps investee company may or may not be of interest, but for £75,000 (vs £9.8m market cap for Tern) it will be a while before we can judge. In any case, the last share issue Wyld was at £35.97 per share, capitalising it at over £400,000, so £75,000 looks a bit thin. Who knows, maybe it was a bargain – or maybe it was in trouble. Of greater interest is the other announcement, which details a patent valuation for Device Authority.

MySquar - the bollocks trading statement and crazy valuation

Published 691 days ago

AIM ramp de jour MySquar (MYSQ) has today boasted that in the last days of June as daily sales reached $8500 "the business has reached a very significant milestone of achieving run rate operating breakeven". Er..can you smell the red herrings - they are hidden underneath the red flags.

Metal Tiger - 2016 results & “encouraging” 2017 progress - BUY

Published 692 days ago

Metal Tiger (MTR) has announced 2016 results and emphasised “encouraging” progress in the first half of 2017…

Minoan – debt extended, now for the deals?

Published 692 days ago

AIM-listed Minoan (MIN) announced on Friday that it has extended its loan deal with Hillside. So much for that having presented a problem, then! The extension given Minoan another 6 months on the same terms, barring the dropping of the price on 10 million warrants to 8p (from 13p) – perhaps a bit pricey, but the company now has a fairly clear period ahead to capitalise on the Cavo Sidero site, on which it got final clearance as announced on Monday last week.

Parallel Media FY16 Results: The lesson in following BBs hits reality

Published 692 days ago

I was pretty straight back in January  when calling the shares in AIM-listed Parallel Media (PAA) lower. Having headed north from about 16p, people were buying at 48p. With institutional investor Harwood bailing out a couple of days later the shares headed back to 24p (still jolly expensive in my view) but still the madness went on, peaking several time over 30p before the FY16 results were released on Friday. Then reality set in.

Aquatic Foods - now FD walks - who could have thought this was a China fraud? Roll of Shame

Published 694 days ago

Late on Friday, at no-one is watching O'Clock we learned that Po Ling Low had quit as FD of AIM listed China fraud Aquatic Foods (AFG) with immediate effect. Really? It was 5.21 in London so it was 1.12 in the morning in China. Did Po really walk the plank so late in the evening. Clearly that was just another lie from this slam dunk fraud. 

Table of shorted AIM shares - week to 30/06/2017

Published 694 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

TWO new hot share tips at 2 PM TODAY for just £5 - Don't miss out on our next winners!

Published 695 days ago

Our last big call was last Friday urging readers to top up on Minoan (MIN). Within one working day the company had - as we had anticipated - gained Greek planning consent and our readers were 20% ahead. It happens. Those shares are still cheap but what about our next hot share tips? As it happens there is not one but two coming out TODAY

Servision - from bad to worse - 2 profits warnings in less than a month, lying to AIM on June 15, shares crashing but still 100% too high

Published 695 days ago

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...

F40 Northwest Investment Group – the investment company which doesn’t invest: FY16 numbers

Published 695 days ago

And so another year passes and ShareProphets AIM-China Filthy Forty investment company which doesn’t invest, Northwest Investment Group (NWIG), racks another year’s loss and still not a single investment. That’ll be six and a half years to the balance sheet date, and 7 to the current date. Meanwhile the £3 million raised is down to….

F40 China New FY16 numbers: headlines good, details are another matter

Published 695 days ago

ShareProphets AIM-China Filthy 40 play China New Energy (CNEL) posted its FY16 numbers this morning. On the face of it a profit of RMB 3.6 million (about £400,000) reads well, but a look at  balance sheet suggests that as ever we are on the cusp of a placing, and what about those receivables?

F40 – All Asia FY16 numbers: way overvalued

Published 695 days ago

I haven’t covered ShareProphets AIM-China Filthy Forty All Asia Asset Capital (AAA) much before its shocking contender for most expensive loan on AIM, but since our list is now only 13 members long, and with an 'interesting' disposal to record now seems as good a time as any to take a peek. And so, with the Chairman pleased to present the results… (and the shares down by 30%)...

China fraud Aquatic Foods – still can’t get the cash out of China, no results = SUSPENDED

Published 696 days ago

Well there’s a thing: ShareProphets AIM-China Filthy Forty stock Aquatic Foods Group (AFG) is still having trouble remitting funds from China resulting in the delay of payments to a number of parties whose assistance is required for the finalisation of the audited accounts. In short, the company can’t pay its bills and the shares have been suspended. 

You may know Tom the fraudbuster but what about the man who makes you money from value investing shares tips - act TODAY!

Published 697 days ago

You may know Tom Winnifrith as the man who exposes fraud on AIM and gets a stack of death threats and lawyers letters for his troubles. Just on Tuesday he has published a massive exclusive on Quindell, the biggest London stockmarket fraud for 30 years, and a con the regulators thanked him for exposing. That breaking news is HERE.

Grand Group: FY16 numbers a fitting tribute for a F40 wannabe, or a straight buy?

Published 697 days ago

Grand Group never made the ShareProphets AIM-China Filthy Forty. It was nothing to do with qualifying, it just arrived on the Casino too late. But listing in January 2015 at 80p to give it a market capitalisation of £27 million it is now worth just £4.8 million. Ouch!

Servision - how do you keep lots of idiots in suspense? We'll tell its shareholders on Friday

Published 698 days ago

Worthless AIM listed piece of excrement Servision (SEV) always seems to report its results at the last possible moment to avoid suspension on the casino. In 2016 calendar 2015 numbers (piss poor) arrived on the 30 June deadline day. For 2016 its a slam dunk bet that the numbers (piss poor) will arrive this Friday on deadline day. Why is that? 

Advanced Oncotherapy – Annual Report published: Guess what?????

Published 698 days ago

AIM-listed Advanced Oncotherapy (AVO) has released its full Annual Report. Having looked yesterday at a few things I thought it would be worth a second look – especially in the light of a clean audit report from RPG Crouch Chapman. Mea culpa to myself and Tom who expected something different, but hang on a minute…

Advanced Oncotherapy – when the Final Results don’t tell you everything you need to know

Published 699 days ago

AIM-listed Advanced Oncotherapy(AVO)  has released its final results RNS for 2016 with four days to go before deadline day  Bully for Advanced. But there are no notes to the accounts and why is there no no auditor’s statement – the very things that we were looking for. What is the company hiding? We are told that the report WILL be made availlable on the website but hang on...this is crucial!

Table of shorted AIM shares - week to 23/06/2017

Published 701 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Naibu – SHOCKER filthy forty update and litigation news. Who's in the frame?

Published 703 days ago

Out of the blue this morning, we have had an update from ShareProphets AIM-China Filthy Forty Naibu. This was an obvious fraud and delisted in 2015 when the money stopped flowing and Houyan Lin disappeared. But the board decided to stand up to be counted. They may have been taken in and signed off on all sorts of lies, but they have been pursuing the case and today have also announced that viable legal causes of action look to exist to go after certain of the various professional advisers who were involved at the time of the flotation.

CyanConnode – Beaufort marks down to an "ex corporate" hold - does that mean sell?

Published 704 days ago

AIM-listed CyanConnode – Cyan to its friends – (CYAN) again looks set for a fair ride the wrong way after Beaufort Securities drew the red pen to its speculative buy note. It is now flat – a plain hold – which to normal people means sell. Of course, Beaufort was until recently a broker to the company, but that obviously has nothing to do with it. Beaufort states:

Advanced Oncotherapy – another death spiral conversion as the company admits it is looking for alternatives

Published 704 days ago

AIM-listed Advanced Oncotherapy (AVO) has announced the latest death spiral on steroids conversion by Bracknor: £400,000 into 1.6 million shares. But with the shares sitting a country mile below the 25p nominal price they have to pay £190,000 back. That works out as 11.875p per share and thus means that Bracknor gets its new confetti at just (effectively) 13.125p. Not bad, bearing in mind that the lowest daily VWAP came in at 15.79p.

Milestone - another bailout placing ahoy from the AIM Rule Breakers

Published 705 days ago

The underlying problem with Milestone Group (MSG) is that it is a crap business that never generates any cash. Thus in order to keep CEO Deborah White in the lifestyle to which she has become accustomed and to keep paying crony capitalist advisers such as shamed PR firm Walbrook (Eden, Fusionex, Advanced Oncotherapy etc) it relies on bailout placing after bailout placing with shareholders seeing value destroyed every time.

Ariana – Placing/Subscription/Director Participation, £2m at 1.3p- did I goof?

Published 705 days ago

Well that solves that: a big placing and a very disappointing 1.3p price tag to boot. So what to do now? 

Are we starting to see the revenge of the exploited AIM private investor? Or are they being double duped

Published 705 days ago

Few, other than the clowns such as Marcus Stuttard at the LSE, can argue against AIM having delivered absolutely dreadful returns for investors. Since its launch the AIM Index is down by 5.4% (dividends included). The FTSE 100 has doubled over the same period and the FTSE Small Cap Index is 250% ahead. Actually the numbers are even worse. Strip out a handful of massive winners like ASOS and Domino's Pizza and the AIM Index is into double digit losses. But are private investors who have born the brunt of this wealth destruction now getting revenge with spate of attempted boardroom purges? Yes and No.

Fusionex - last day to sell, Nomad quits, homophobic ADVFN moron J777J19 have fun!

Published 705 days ago

As I had suggested might happen several times, Nomad Stifel has resigned the Fusionex (FXI) account. It could not wait for the AIM delisting on the 26th. Instead it gave notice after hours yesterday that it was quitting as Nomad and Broker with effect from 5PM today. Hooray.Game over.

Fusionex shares up 55% at 61p - WTF? Fear not

Published 706 days ago

In seven days time shares in Fusionex (FXI) the drowning in red flags tech company from the Norfolk province of Malaysia will be delisted from the AIM Casino. Yet the shares are up by 55% today at 61.5p. WTF?

Servision and that breach of AIM rules with the delayed (lack of) profits warning - is it even worse that we thought?

Published 706 days ago

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.

Winner of the Bulletin Board Moron of the Week contest - sponsored by Jim Mellon's Diabetic Boot Company

Published 706 days ago

Our nominations usually come from LSE.co.uk, ADVFN.co.uk, III.co.uk, and sometimes the FT. But this is the first time that our winner comes from the world of academia. And no, the author is not Tom's sociology lecturing Mrs

New Bulletin Board Moron of the Week contest - sponsored by Jim Mellon's Diabetic Boot Company

Published 707 days ago

We're looking for exemplary examples of sheer stupidity from those founts of brilliance; LSE.co.uk, III.co.uk and ADVFN.co.uk. Perhaps if they need a guiding light they might care to look at life inside the basket case that is Jim Mellon's Diabetic Boot Company, as sponsored by most of the other AIM companies Jim runs as Cynical Bear pointed out HERE.  The deadline to post your entries in the comments section below is midnight, Sunday 18 June.

Stuttard’s Septic Seven – June Update: and then there were just three

Published 707 days ago

It is five weeks since our last update on the portfolio of seven AIM stocks selected for Marcus Stuttard, the sham sheriff of AIM, to put his money into to show his faith in the system of regulation last September. As you will recall, these were all companies which we had Red Flagged but about which AIM Regulation had done nothing. Last month the losses were 61.7% in about 8 months.

African Potash - like Dracula, seemingly unkillable but in the end...

Published 708 days ago

You would have thought that having not one but two advisers resign because they would not sign off on its lies, being out of cash, having its shares suspended on NEX after being slung off AIM would be enough to kill African Potash (AFPO). But it appears that the holy water, the garlic, the silver crucifix, the stake through the heart and all the other tools in Van Helsing's bag are not enough. But remember, in the end the Count will die.

Table of shorted AIM shares - week to 16/06/2017

Published 708 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Sylvania Platinum looks to offer great long term value

Published 708 days ago

As long as there is nothing fundamentally wrong with the company itself, then with any leveraged play on commodity prices, which is basically what many producers are, the time to be buying is when the price of the underlying commodity is near the bottom of a cycle. It is usually hard to judge exactly where the bottom is going to be but, when it comes to platinum, I think we are nearing that area.

Fisking The Times & Standard Life as AIM is lambasted

Published 709 days ago

The Times yesterday ran an article "Investors take aim at LSE’s mistrusted upstart - Stock exchange defends Alternative Investment Market but its critics are losing patience", which it painted as a major attack on AIM. In fact it appears to have found one new critic - Standard Life - which, having done its conkers on Fusionex (FXI) because its fund managers knew better than our writers here who issued repeated warnings, now seems to think AIM has a problem. On which fucking planet has Standard Life been for the past ten years?

Fusionex - votes to delist: shares now 33p to sell - worthless:: CEO Teh talks horseshit, has Nomad quit?

Published 710 days ago

Surprise surprise shareholders in Fusionex (FXI) voted to delist the shares from AIM. Management and stooges had the vote sown up anyway so won 85% to 15%. The shares will cease trading on 26 June. CEO Ivan Teh must have really pissed off the owners of 5.4 million shares who voted against.

Servision - (lack of) profits warning and surely market abuse & breach of AIM Rules?

Published 710 days ago

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?

Mercantile Ports - before we turn to dire results today, more on this zero in waiting

Published 712 days ago

Mercantile Ports & Logistics (MPL) has served up dismal numbers & pathetic excuses today and its shares have slumped to a pitiful 5.625p. My target remains 0p as it was in this expose a few months ago. I will turn to the results later but before then...

Nektan: CEO quits – Daily Mail readers have had a bad week!

Published 715 days ago

No great surprise that Nektan’s (NKTN) CEO, Leigh Nissim, has announced his resignation this week as it must be a challenging and dispiriting role, although one I do wonder when he actually started looking as he’s been in the role for less than a year. It leaves me though with me with a sinking feeling about the PR machines at play at this end of AIM and must also leave Daily Mail readers fuming.

Table of shorted AIM shares - week to 09/06/2017

Published 715 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Tom Winnifrith General Election ffing disaster Bearcast Part 2 - the real economy, stockmarket and forex impact

Published 716 days ago

In part one of this two part bearcast I looked at the political ramifications of last night's disaster. Now in this podcast I look at the implications for the real economy, for sterling, for the housing market and for the stockmarket from FTSE 100 stocks down to AIM.

Some might think Oilex looks cheap - it isn't!

Published 718 days ago

Oilex (OEX) took a big hit to its share price this week following news of an unsuccessful workover at two of its oil wells, and it is hard to see how the company is going to turn things around.

When were laws on usury abolished: Alecto Minerals - the most expensive loan in AIM history?

Published 718 days ago

If it is not it is close. Alecto Minerals (ALO) shares in which are expected to resume trading on AIM has announced that it has secured a £800,000 loan repayable in six months for £800,000. But look at the terms. They are outrageous.

Fusionex: Sell while It’s still possible but I've bought Petrofac

Published 722 days ago

I certainly don’t condone bribery but I can understand why Ayman Asfari and Marwan Chedid, CEO and former COO of Petrofac (PFC) might be feeling a little hard done by, having been arrested by the Serious Fraud Office and seeing the company’s value plunge by £1.5 billion, as an investigation is launched into its dealings with shadowy Monaco-based “agent” Unaoil.

Table of shorted AIM shares - week to 02/06/2017

Published 722 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

ShareProphets China AIM 'Filthy Forty' update – EGM approval for MoneySwap to next de-list edition

Published 723 days ago

Since our previous update, another ShareProphets China AIM 'Filthy Forty' company in MoneySwap (SWAP) has seen EGM approval for AIM cancellation - to follow the likes of Geong International and co in 'Geong, Geong' and then Gone...

Magnolia Petroleum - sack the board!

Published 723 days ago

It really does not make any difference who is steering the Titanic once its hit the iceberg. Its going down. Actually that is a poor image for Magnolia Petroleum (MAGP) - think of a rubber dinghy holed in multiple places and weighed down with a crew who are both heavy - thanks to their grotesque pay over many years - and inept. I am not sure what good it would do firing Rita Whittingham and colleagues as this company will never generate a cent in free cashflow and its balance sheet is a wreck. However...

Crowdfunding appeal launched to take Jason Drummond & Nilesh Jagatia of Teathers infamy to court over Purple Lounge & Media Corp

Published 725 days ago

A crowdfunding appeal has been launched to take Jason Drummond & Nilesh Jagatia of Teathers (TEA) infamy to the High Court over a previous debacle Purple Lounge & AIM listed (now bust) Media Corp. It is claimed that investors were misled and also that client funds at Purple Lounge went missing. The allegations, and at this stage they are allegations, are very serious indeed.

Malay Junk Fusionex - to end the AIM farce - RNS at no-one is watching a clock - as £55 million of UK cash goes up in smoke

Published 728 days ago

At 5.30 PM on the Friday before the bank holiday, no-one is watching O'Clock, Fusionex (FXI) said that it was to delist from AIM. The shares closed the day off 2p at 129p but will absolutely crater Tuesday as this stinks as we have warned you so many times - as you can see HERE. Once again we are vindicated and the City pump & promote machine must hang its head in shame.

Market abuse, PCGE, an honest if careless scouse tipster and the sordid underbelly of AIM

Published 728 days ago

Having explained how folks paying up to 0.16p for shares in PGCE fully deserved the rogering they got on Friday after a new media rampfest turned sour I was startled to be told by some professional TW hater "but you tipped it, Doc Holiday said so". Au contraire.

Eden Research Plc – What is really going on with its terpene technology license from UMMS?

Published 728 days ago

AIM Listed fraud Eden Research (EDEN) has bneen shown to have committed FRAUD, has been panned by the FRC and is still under FRC investigation (whatever it says). But there coulde be an even bigger problem. In its AIM admission document Eden explained that an element of its terpene chemistry was licensed as set out below:

Table of shorted AIM shares - week to 26/05/2017

Published 729 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Mysquar Ltd Part 2: Taking liberties with the Truth

Published 729 days ago

I wrote about Mysquar (MYSQ) last week and promised to explain how conflicts of interest and accounting shenanigans make it uninvestable. In the AIM admission document of two years ago it is stated:

Not all our share tips give readers 12 day profits of 77% some take longer - catch next hot tip TODAY for just £5 + the Falanx excitement and will we make another 100% on Obtala

Published 730 days ago

Four times in the past three or four months we have advised our readers to bank big gains on shares we tipped - the one before the one before last was a 77% profit (offer to bid ) in just 12 days. But though we target quick gains, most tips take rather longer to make money for our readers. take Falanx (FLX) we tipped it last year at a 4.75p offer - it is a solid cashed up fast growing cyber security play. We like it so much we own a few shares too but won't be selling any of them till after our readers bank big gains. The shares are now 9.5p -10p! That is a potential 100% offer to bid profit!

Billing Services - another Jim Mellon backed AIM disaster: don't go bottom fishing

Published 730 days ago

Oh dear, this has all the makings of another AIM disaster for my good friend the offshore based asset stripper Jim Mellon. But look on the bright side Jim, you have probably lost far more of your wealth with HK dog Regent Pacific, whose shares continue to tank in an alarming fashion. Anyhow, back to the home grown disaster stories. Shares in Billing Services (BILL) are down again today to 2.875p valuing this company at £8.1 million. that looks awfully generous.

PCGE - valuation crackers

Published 730 days ago

I am innundated with lunatics and spivs tweeting me that shares in PCG Entertainment (PCGE) are cheap. It is the ramp de jour among the Bulletin Board lunatics. But at 0.15p the valuation is bonkers. Let me explain.

Servision – great news for Cynical Bear’s Sub-Standard Shockers XI

Published 730 days ago

You really do have to feel sorry for Cynical Bear. One minute he has a fully fit squad to choose from and then one by one they drop like flies, either with fitness issues or just simply keel over. I’d been getting a bit concerned that he’d struggle to put out a full team, but out of the blue there is good news for him. No need to turn to the back pages of the tabloid press for the big stories of sporting drama, we have it all here at ShareProphets: AIM-listed Servision (SEV) is to put in a transfer request. 

Arian Silver: Pump & Dump, Mislead Investors, Executive Greed - why do I bother?

Published 731 days ago

A chap for whom I have some time some of the time asked me why bother sticking it to Arian Silver (AGQ), a worthless piece of crap on AIM. Will it make any difference to the charade, to the game which sees userless tossers like Arian's CEO Jim Williams get ever richer, crony capitalists earn fat fees and investors get buggered again and again and again. No. My writings won't change that. And the chap is right in that it will just make a few more pathetic wretches who would rather lose money than accept the truth hate me. Yup. He is right. 

Cloudbuy – last chance saloon as final tranche of funding is drawn, and a partial truth

Published 731 days ago

Sadly it looks as though AIM-listed Cloudbuy is entering the final chapter of its life as the last tranche of funding from white knight investor Roberto Sella has been drawn. The implied cash-burn suggests that in the absence of big-time delivery of revenues (something oft-promised, but never delivered so far) a crunch looms.

SCANDAL: Redx Pharma – goes tits up & blames thieving scousers, just 3 months after raising £12m

Published 731 days ago

It seems to be perfectly acceptable for companies on the Casino to complete fundraisings inadequate to see them solvent. Yesterday at 4.22pm shares in AIM-listed Redx Pharma (REDX) were suspended “pending an announcement” by AIM Regulation (the RNS following at 4.35pm – bit of a rush there fellas?) At no-one-is-watching o’clock (6.35pm: after-after-hours) the company announced that administrators had been appointed - just 3 months after the company had apparently raised £12 million in a placing and open offer. Coke and hookers all round for the Nomad and Brokers concerned. Stale bread and water for those sold this particular pup.

Advanced Oncotherapy – just what are the terms of the Bracknor funding?

Published 732 days ago

AIM-listed Advanced Oncotherapy (AVO) has this morning announced another conversion of death-spiral loan notes by Bracknor. That is not news – there have been plenty already and there are many more to come. But for the third time in succession we seem to have different terms being applied. Surely it is time for the company to tell the market what is going on?

Andalas raises £600,000 - which means net cash is less than ZERO - it's still bust & worthless

Published 733 days ago

With some great investigative journalism of which this website would have been proud, Brokerman Dan flushed it out a few weeks ago. The former bank robber - correctly - stated that Andalas (ADL) was looking to raise £1 million at 0.06p and the AIM listed crock of shit suspended its shares. Today they are unsuspended after the company raised £600,000 at 0.1p. It says this is at a premium to the suspension price. But it is a spoof, Andalas is still bust. It is insolvent as of today!

Advanced Oncotherapy – EGM clock ticking again as shares resume slide

Published 733 days ago

I can’t help but notice that in the wake of a couple of Bracknor death-spiral loan note conversions, shares in AIM-listed Advanced Oncotherapy have rather slipped again. Indeed, having scraped onto the 27.5p watermark on Monday last week (and thus avoided an EGM to drop the nominal price of the shares) as the result of spoof boardroom buying, it has been one-way traffic ever since, down to 22.75p last seen.

Filthy Forty Aquatic Foods – problems getting the cash out of PRC? Er…..

Published 733 days ago

Yesterday lunchtime (1pm – the new no-one-is-watching o’clock) ShareProphets AIM-China Filthy Forty purveyor of all things fishy, Aquatics Foods Group (AFG) served up a Q1 trading statement showing broadly flat sales, but rising costs. The really good news is that the cash-pile is even higher than before, at RMB 485 million – c. £54 million, or about five times the market capitalisation. The bad news….

Minoan – acquisition, placing, debt update

Published 734 days ago

AIM-listed travel agent and wannabe Greek holiday resort developer Minoan (MIN) announced a small bolt-on acquisition this morning….and a placing. Oh, and an update on its debt facility due to expire at the end of June. It is disappointing to see a placing (at 9p), but in the general scheme of things it is a relatively small amount so the pill is sugared to some extent.

Is Tom Winnifrith right to out companies doing placings?

Published 734 days ago

The busting of a placing by AIM-listed UK Oil and Gas (UKOG) at 1p by Tom Winnifrith has caused a bit of controversy. It is not the first time he has been accused of being irresponsible by blowing the lid on a placing only for it to be pulled or the price dropped. Anyone left holding the baby gets their fingers burned – in the recent example quite badly if they had been buying into the ramp at north of 1.4p only to see the company raise cash at just 0.8p. Is it right?

Table of shorted AIM shares - week to 19/05/2017

Published 737 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Frontera - Why an AGM BEFORE FY numbers are released? Is the balance sheet really THAT bad?

Published 738 days ago

AIM-listed Frontera (FRR) has rather slipped since I last wrote about it last month HERE and HERE, concluding that it had a gaping black hole in its balance sheet. The shares were then trading at around 0.4p. This afternoon the shares are 0.31p in the middle (last seen) and it has announced its AGM. Just one thing: where are the full year results? The company is trying to raise c. £40 million in cash and loan settlements, and won’t show us the balance sheet? How big a RED FLAG do you want?

Advanced Oncotherapy – another Bracknor Conversion, but look at the terms: how’s the Going Concern statement coming along?

Published 738 days ago

Well, well. How do you issue shares at a discount to par? Simple: pay a whopping fee to the subscriber. AIM-listed Advanced Oncotherapy (AVO) has announced another loan note conversion under its death-spiral funding package with Bracknor and a new fee seems to have appeared which might just derail discussions between the company and its auditor as they work on the going concern statement for the forthcoming FY16 results due out by the end of next month. Oh dear, oh dear.

Advanced Oncotherapy – yet another director ponies up, EGM seemingly avoided and Bracknor converts. Most bizarre

Published 739 days ago

Well this is most bizarre! Lobster-potted Bracknor has converted another lump of its death-spiral loan notes. That, of course, is not a great surprise until you study the detail of yesterday morning’s announcement from AIM-listed Advanced Oncotherapy (AVO), where we discover that the conversion shares have been issued not at the lowest daily volume-weighted average price of the past 15 days (21.35p) as per previously announced conversion terms, but at 25p (par price of the shares). Why has Bracknor elected to pay a 17% premium?

You have to be barking mad to own 16% of MySquar - its official

Published 740 days ago

AIM listed MySquar (MYSQ) is a total rum and coke of a company. It is hard to believe a word it says. The bear community is convinced it will be a zero. But the shares have been ramped to high heaven and helped by a chap called Josh Adams buying a 16% stake through his Imperium vehicle. Josh Adams ...the name rings a bell. Oh that nutter!

Advanced Oncotherapy – a last-ditch effort to avoid an EGM?

Published 741 days ago

Well it looks as though D-day is today after all for the triggering of an EGM to drop the nominal (par) price of AIM-listed Advanced Oncotherapy (AVO) stock so as to allow Bracknor to resume its convert-and-dump operations. With the shares edging a little higher this morning, one is tempted to wonder whether some heavy boardroom buying might be enough to lift the shares back over the 27.5p mark just in the nick of time. But there is a fair way to go, with the stock still 2.25p short of salvation. 

Minoan – still waiting for notice of legal clearance, short-term trading opportunity or avoid?

Published 741 days ago

AIM-listed wannabe holiday resort developer Minoan (MIN) has tested the patience of even the most saintly of saints for years and years. It has a plan to build a resort in northern Crete which has been going through Greek permitting and legal processes which make our own UK planning environment look as nimble as an Olympic gymnast. Of course, the misery has been about to come to an end for years, but perhaps now the green light really is imminent. Is it worth a punt?

Stuttard’s Septic Seven May update: another one bites the dust (Taihua 'where’s the website gone now' plc)

Published 742 days ago

Marcus Stuttard, head of AIM and the oxymorons of AIM Regulation, had a specially selected and beautifully diversified portfolio of AIM stocks chosen by ShareProphets back at the end of last September so that he could demonstrate his faith in the regulatory set-up of the market he runs. Naturally, there was nothing at all wrong with any of the companies picked: they were all trading on the Casino as normal, so we were just plain wrong to be Red Flagging them all for one reason or another.  We were just so, so wrong that……

Eden Research - a Second Request to the FRC to investigate its fraudulent accounts

Published 742 days ago

I asked my very good pals at the Financial Reporting Council, who we know are major fans of my work, to look into the fraudulent accounts of Eden Research (EDEN) for 2011, 2012, 2013, 2014 and 2015 on February 17 2016. Okay 2015 accounts were not out at that point but I was sure they would be fraudulent - they were. Now 2016 accounts for Terpenetech are out we have it again confirmed that the 2015 accounts were crook and 2016 accounts - due within days - will almost certainly be fraudulent. So I have written to the FRC again. The letter follows.

Table of shorted AIM shares - week to 12/05/2017

Published 743 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Advanced Oncotherapy – is it D-Day today, or Monday?

Published 744 days ago

Under its Bracknor death-spiral funding package, AIM-listed Advanced Oncotherapy (AVO) has to call an EGM proposing resolutions to drop the current nominal, or “par”, 25p price of its shares by at least half in the event of 10 consecutive closes below 110% of nominal (ie below 27.5p). But the company has never defined the closing price used: is it mid-price, bid-price, offer-price at close, or perhaps some more convoluted closing daily VWAP (volume weighted average price) calculation? But one thing is for sure, the match is right next to the blue touch-paper. Is it today or Monday, fellas?

ShareProphets China AIM 'Filthy Forty' update – good riddance Taihua edition

Published 745 days ago

Since our previous (March) update, another ShareProphets China AIM 'Filthy Forty' company has followed Geong International and co in 'Geong, Geong' and then Gone...

DiamondCorp – Fat Lady in full flow and an investment lesson

Published 746 days ago

Fair play to (pro tem, albeit currently suspended) DiamondCorp (DCP). The news is bad but at least the company is being plain about it. Of course, we have to throw in the obligatory “you can’t say you were not warned” ShareProphets catchphrase, as the writing has been on the wall for months, but yesterday’s after-hours RNS looks to be the cue for a long and arduous aria.

Well Done Brokerman Dan - Andalas suspended ahead of bucket shop bailout

Published 747 days ago

He gets much wrong, but I take my hat off to the old bank robber as he has got Andalas Energy (ADL) shares suspended today by revealing that it was trying to get away a bailout placing at 0.05p-0.06p. Dan has compared Andalas to " a crock of shit" but his assessment is unfair. Unfair on a crock of shit that is.

Nyota Minerals – mega ramp & joke valuation following discounted, ‘keep the lights on’, placing?!?

Published 747 days ago

Last week Nyota Minerals (NYO) was “pleased to announce” a placing to raise up to approximately £93,880 (approximately Australian$120,000) at 0.02p per share. Despite this thus looking very much a ‘keep the lights on’ raise, the shares have currently reached 0.07p. Hmmm…

Eden – a question from the Deputy Sheriff to m’learned friends of the ShareProphets community

Published 749 days ago

Noting recent coverage of AIM-listed Eden Research (EDEN) and its, ahem, “interesting” funding arrangements with Terpenetech here on ShareProphets I have a question: given that it appears that Eden is the only holder of paid-up shares in Terpenetech, does that not mean that Eden holds the only (currently) valid voting rights? And if that is the case, is not Eden in fact the ultimate controlling party? And if that is the case, should Terpenetech be viewed as a 100% owned and controlled entity of Eden - a subsidiary, therefore, and have to release full audited accounts?

Advanced Oncotherapy – Oh to be a fly on the wall as it discusses Going Concern with auditor. Will it get its accounts out on time?

Published 749 days ago

AIM-listed Advanced Oncotherapy (AVO) has a calendar year-end and as such its six-month deadline to publish accounts falls on 30 June – the end of next month. That means getting an audit done which will involve, amongst other things, agreeing the Going Concern statement. Yesterday’s share price plunge might have more than a small bearing on how conversations go in that regard.

Falanx - placing and trading statement: shares go up! We upgrade (again)

Published 749 days ago

How often do you see a small AIM company raise a good whack of money relative to its market cap (in this case the new shares issued are just under 20% of the enlarged total) and still see its shares go up on the day? Once in a blue moon. Well it has happened with Falanx (FLX), whose shares closed at 7.5p-8p.

Photo Article: Cloudtag - FD walks but don't worry new NED arrives

Published 750 days ago

What's not to like? No Listing after being booted off AIM because no Nomad would sign off on its lies. No product for sale. Almost no cash left. And now the Finance Director of the fraud Cloudtag (CTAG) has quit. More red flags for tea vicar?

Table of shorted AIM shares - week to 05/05/2017

Published 750 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Filthy 40 Taihua - last chance to get out ahead of delisting

Published 751 days ago

ShareProphets AIM-China Filthy Forty play Taihua (TAIH) deslists at the close of play today. If you want to claim your bag of Walkers, now's your last chance - unless you want to take your chances on suggestions of a possible offer from a major shareholder and management coming to fruition at a better price following this weekend's scheduled lethal injection in the basement of Stuttard Towers.

Advanced Oncotherapy – the 25p dam bursts. What now for Bracknor as shares resume slide towards the abyss

Published 751 days ago

You can’t say you have not been warned. This morning shares in AIM-listed Advanced Oncotherapy (AVO) have fallen firmly below the nominal 25p price of the confetti. Companies are not allowed to issue shares below their nominal price and that, in turn, means that for the time being Bracknor is lobster-potted with something like £2.5 million of convertible (death-spiral) loans which it cannot convert. My heart bleeds….

Photonstar LED – after-hours monster-discount placing. Anything to see here Guv?

Published 752 days ago

AIM-listed Photonstar LED (PSL) was the subject last week, in the wake of a rampfest RNS, of a Steve Moore conclusion of no financials, no cash, avoid. How bang-on-the-(lack of)-money, for last night the company – well after-hours at 5.24pm – announced a massively discounted keep-the-lights-on placing for a paltry £465,000 at an even more paltry 1.25p – vs a 2nd May closing price of 2.85p and yesterday of over 3p. Nice work. Now take a peek at the share price and volume chart of yesterday, courtesy of ADVFN. Surely it could not be that there was mass forward-selling of placing shares between 8am and 3pm?

Advanced Oncotherapy – Uh-oh: Aviva bailing as 25p nominal dam buckles under the strain

Published 753 days ago

Oh dear. Oh dearie me. AIM-listed Advanced Oncotherapy (AVO) has released a TR-1 from institutional investor Aviva showing that it has been dumping shares and went below the disclosable threshold to 2.44% last Friday in terms of its directly held interests. It had a further 0.66% interest via loaned out shares. Meanwhile Advanced Onco shares today fell below the 25p nominal price of its confetti, leaving death-spiral funder Bracknor in a bit of a pickle just five days after ponying up tranche 2 of convertible loans which it can’t convert for less than 25p. Ouch.

Rurelec – less bad news from Argentina, but has auditor Grant Thornton resigned?

Published 754 days ago

AIM-listed Rurelec (RUR) updated the market last Thursday that its currently crocked power generation plant held in its JV Energia Del Sur in Argentina may get fixed rather sooner than first feared – even if the proposed repair sounds a bit of a Heath Robinson affair. Good news. The slightly more disconcerting news is that the Companies House website is showing an Auditor’s Resignation filing as being processed and available in five days.

Eden Research - how long can it hide the Terpenetech Panama Pump fraud? Days...at most

Published 755 days ago

The unravel at AIM listed fraud Eden Research may be just days away. Because, its partner in crime, Terpenetech has until April 30 to file its accounts for the year to 31 July. Normally it files on deadline day. Any delays will be telling. But then so too will the numbers. Its a lose lose for the fraudsters. You will remember how this fraud worked....

Advanced Oncotherapy – looking at the record of the Exec Chairman, Part 5 (final chapter)

Published 756 days ago

The final two pages of listings of AIM-listed Advanced Oncotherapy (AVO) Exec Chairman, Michael Jeffrey Sinclair’s company officer posts on the OpenCorporates.com website add another 27 entities to our previous tally (after ignoring a further 6 double entries) of 113 appointments to bring the total up to 140 jobs in an illustrious career. And so we have the final scores-on-the-doors – as well as an interesting observation.

Golden Saint - now 8,822,256,582 shares in issue after latest bailout placing - what is the AIM shares in issue record?

Published 756 days ago

Another day and another bailout placing from Golden Saint Resources (GSR) leaves it with 8,822,256,582 shares in issue. Floated at 10p, the shares are now 0.02p but how close is it to the record books?

Table of shorted AIM shares - week to 28/04/2017

Published 757 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Advanced Oncotherapy draws second tranche of Bracknor funds but who is paying for what at Harley Street?

Published 758 days ago

AIM-listed Advanced Oncotherapy (AVO) has announced this morning the drawdown of the second tranche of £1.3 million (nominal - £1.235 million after the 5% discount) on its convertible loan note (aka death spiral) package with Bracknor. Good news – the lights will stay on for a few weeks extra. But the second half of the statement is a bit of a puzzle, raising more questions than it seemingly tries to answer.

Advanced Oncotherapy – another spoof from the kings of spoofery as this time Exec Chairman buys

Published 759 days ago

Well that explains it then! Yesterday I noted my amazement that AIM-listed Advanced Oncotherapy (AVO) had issued yet another ramparoonie director share purchase RNS on Tuesday and that the shares had raced back above not only the all-important 27.5p mark, but above 30p. Now we know why: Executive Chairman Dr Michael Sinclair was in the market filling his boots with 200,000 shares  at an average price of 30.44p. Shame he didn’t pile in when the shares were hovering around the 26p mark so as to save himself a few quid.

Oi Concha - Ve Interactive has gone bust where is the RNS?

Published 759 days ago

Naughty naughty naughty. On Tuesday night Ve Interactive, the daft money guzzling new media start up into which Concha (CHA) unwisely invested on a £1 billion valuation went into administration and was at once bought ( one assumes for peanuts) by management and certain existing shareholders. Since Concha has not a lot of cash it is hard to see it being involved. But where is the statement? AIM Rules say something about timely disclosure yet we have had 24 hours with no RNS. Nope make that 36 hours...

Advanced Oncotherapy: looking at the Exec Chairman’s Record – part 4

Published 760 days ago

We are nearly there. Hurrah! The OpenCorporates.com website lists 153 company appointments for a Michael Jeffrey Sinclair spanning some six pages. Today we move into page four to see how the rate of dissolutions looks.

Advanced Oncotherapy draws £2m second tranche from Blackfinch, Bracknor converts another £200k

Published 760 days ago

At no-one-is-watching o’clock last night (5.48 pm) AIM-listed Advanced Oncotherapy (AVO) slipped out an announcement that it had drawn the £2m second tranche of cash available under its one-year loan deal with Blackfinch. With my maths suggesting that the company was close to running on fumes that extra £2m to keep the show on the road pro tem will come in handy.

Advanced Oncotherapy – looking at the Exec Chairman’s record, Part 3

Published 761 days ago

Phew! 153 company directorships to plough through from the career of AIM-listed Advanced Oncotherapy’s Executive Chairman. He sure has been a busy chap. Actually the number is dropping slightly as a few more double entries come up on the OpenCorporates.com website – just as well. Having looked through the first 30 entries on Sunday (29 after sifting out double entries) and the same again yesterday, we come to the next 30 from our search of the career of Dr Michael Jeffrey Sinclair.

Filthy Forty Taihua – shares fall after GM approves delisting, but massive sudden surge today

Published 761 days ago

ShareProphets AIM-China Filthy Forty play Taihua (TAIH) announced last Friday that the EGM called to approve the company’s proposed delisting from the AIM Casino had passed the proposals with the requisite majority. The shares are expected to depart the world’s most successful (but perhaps not for Taihua) growth market first thing on 8 May. In the wake of the announcement – at 4.15pm last Friday, bordering on no-one-is-watching o’clock - the shares again nose-dived, registering a new low of 0.1p on the bid yesterday, but all of a sudden the stock is on the rampage this morning. What is going on?

Advanced Oncotherapy – more spoofery as NED buys yet more shares

Published 761 days ago

AIM-listed Advanced Oncotherapy (AVO) – teetering on the brink of having to call an EGM to reduce its nominal share capital under the terms of its death-spiral funding package with Bracknor – has announced yet another director share purchase, the fourth just this month (if we ignore the botched 7am RNS of 4 April). As ever, this is just a spoof in order to encourage more buying in the market so as to allow Bracknor to offload more of its death-spiral conversion shares as Advanced hopes and prays for the next £1.235 million tranche of funding before the coffers run dry.

Video: Nigel Wray and Tom Winnifrith invest £8000 in two AIM shares to benefit Woodlarks at UK Investor Show 2017

Published 762 days ago

In this video from the storming success that was the 2017 UK Investor Show, Nigel Wray and Tom Winnifrith invest £8000 in two AIM shares to benefit Woodlarks. And make sure that you keep April 21 2018 free for next year's UK Investor Show.

A look at the record of Advanced Oncotherapy's Exec Chairman

Published 763 days ago

AIM-listed Advanced Oncotherapy (AVO) Exec Chairman Dr Michael Jeffrey Sinclair has, according to the OpenCorporates.com website, served as an officer of 155 companies over his illustrious career. With Advanced Onco facing a few issues of cash as it tries to get its Harley Street facility installed and running, it is perhaps worth a gander through this record. Here are the first 29 listed on the OpenCorporates.com website (actually it is 30, but one appears to be a double entry so has been removed).

Table of shorted AIM shares - week to 21/04/2017

Published 764 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Advanced Oncotherapy – more on that Blackfinch secured loan: is it pre-pack ahoy?

Published 766 days ago

As shares in AIM-listed Advanced Oncotherapy (AVO) again sit below that all-important 27.5p mark which, if continued for 10 trading days, will trigger a EGM to reduce the nominal value of the company’s shares, a quick trip to the Companies House website reveals the debenture paperwork (HERE) related to the company’s recently announced loan deal (with spoof 100p conversion terms) with Blackfinch as announced on 27 March (HERE). Most of it is legalese, but on page 36 we get some cracking tit-bits. Such as the planned expenditure on the Harley Street premises (some £19.14 million) as against potential resale values of between £9.44 million and £10.71 million – and that is just for the kit and fitting, not for the value of the property itself. As security (including the property) for a £3 million loan (with an option for a further £2 million) it is quite something!

Cloudbuy – AGM statement: it’s jam tomorrow (honest, this time, guv’!)

Published 768 days ago

AIM-listed Cloudbuy (CBUY) this morning issued an AGM statement which offered yet more jam tomorrow, even more jam next year but the only jam today is the one the company seems to be in.

Advanced Oncotherapy – Bracknor ups the ante, converts £200,000, tick tock to EGM o'clock

Published 768 days ago

This morning AIM-listed Advanced Oncotherapy (AVO) announced another conversion by Bracknor. Having previously converted three lumps of £100,000 of death spiral loans, Bracknor has gone for £200,000 worth this time – but at the lowest price yet, just 26.74p. That leaves things looking decidedly sticky for the company, which got authority to issue Bracknor with enough loan conversion shares based on the assumption of an average loan conversion price of 44p and the associated warrants at 57p.

Hey Filthy Forty MoneySwap and Nomad Allenby, tell us about Wraith Holding BV

Published 769 days ago

Well this is very odd. I just thought I'd look up ShareProphets AIM-China Filthy Forty play MoneySwap's (SWAP) putative white knight rescue financier Wraith Holding BV as announced in recent RNSs on the OpenCorporates.com website. Guess what? It's not there. Can anyone explain?

Stuttard’s Septic Seven April update: Happy Easter Mr Stuttard, you are down 55%!

Published 770 days ago

Obviously the world’s most successful growth market is tightly regulated and supervised by Marcus Stuttard’s oxymorons of AIM Regulation, who seem incapable of applying their own rules. That is why we selected a beautifully diversified portfolio of stocks which we have Red Flagged here on ShareProphets but since Mr Stuttard’s well-oiled regulatory machinery is just so good there must be nothing wrong. Nothing at all…..which is why after 200 days the portfolio is down by 55%. Oops.

Ariana – tip update: production, rising gold, shares down. What?

Published 770 days ago

I suggested that AIM-listed gold (then) explorer and now producer was a buy a couple of months back as we awaited the commencement of production. At the time the spread was 1.7-1.85p per share and they duly headed north as the final bits of paper arrived and the first pour was announced, only for the shares to fall away again. Meanwhile the gold price has been a one-way ticket north. I’m very puzzled - what is going on? With humble apologies for the performance thus far…I still reckon it is a buy and here is why.

Table of shorted AIM shares - week to 13/04/2017

Published 771 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Filthy Forty MoneySwap proposes to delist from Casino after eight months of suspension. So much for AIM Rule 41, Marcus Stuttard.

Published 772 days ago

The ShareProphets AIM-China Filthy Forty is set to have yet another casualty – this time MoneySwap (SWAP) which is proposing to follow Taihua (TAIH) and Jiasen (JSI) out of the back door via a cancellation EGM to become the twenty-seventh Casino delisting. But this will be after almost eight months suspended from trading. Oh Oxymorons at AIM Regulation, whatever happened to AIM Rule 41 which says that execution comes at the end of six months’ suspension? Why don’t you just apply your own rules? Does the AIM Rulebook count for nothing these days?

Advanced Oncotherapy – SPOOF, SPOOF AND SPOOF some more

Published 773 days ago

Under its death spiral funding package with Bracknor, AIM-listed Advanced Oncotherapy (AVO) has to call an EGM to seek shareholder approval to reduce the nominal price of its shares (currently 25p) by at least half if the closing share price is below 110% of nominal (ie 27.5p) for ten consecutive trading days. And that brings us to the latest spoof director share purchase announced this morning (which hasn’t worked: the shares are down 4% last seen this morning).

Frontera - battle lines drawn as JubCap and Waseem Shakoor stick in the knife

Published 774 days ago

It seems that despite bears not being universally popular, I'm not the only one who thinks that AIM-listed Frontera (FRR) is an out and out bargepole stock. In the wake of yesterday's ramparoonie (oops) highly informative RNS, the Twitterspere has seen a few comments - not least of which from Waseem Shakoor and investment house Jub Capital - sticking the knife in.

Frontera – ShareProphets RNS Translation Service as the shares are ramped

Published 774 days ago

Readers will know that I'm far from convinced at the buy case for AIM-listed Frontera (FRR), shares in which have again been on the rampage after what looks like a rampety-ramp RNS yesterday. The ShareProphets RNS Translation Service thought it should chip in...

Advanced Oncotherapy – Bracknor converts again, shares crumbling: when will the EGM be forced? SELL!!!!

Published 775 days ago

AIM-listed Advanced Oncotherapy (AVO) has this morning announced another loan conversion by its white knight death spiral funding provider Bracknor. The lack of liquidity of late makes it hard to imagine that Bracknor is having an easy time offloading. Meanwhile the shares have again slipped and now sit below the threshold at which an EGM to reduce the nominal price of the shares is triggered. Oh dear….

Tip of the year update – Taihua collapseroonie

Published 777 days ago

I think I should rename Deputy Sheriff Towers as Smug Towers. Having offered two sells in the ShareProphets Tipfest for this year, Igas Energy (IGAS) duly crashed to bottom out at 4.5p (I’d been saying sell from 18.5p - last year’s Christmas tipfest, and then 11.625p this year). Last week came the turn of Filthy Forty play Taihua (TAIH) to do the decent thing and collapse in the wake of an entirely squeaky clean suggestion that it delist from the Casino. There’s nothing wrong here at all – move along please, nothing to see……

Table of shorted AIM shares - week to 07/04/2017

Published 777 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Advanced Oncotherapy – Bracknor converts again but is it selling?, can it sell?

Published 779 days ago

AIM-listed Advanced Oncotherapy (AVO) has announced a second conversion of death-spiral loan by Bracknor. As per the first conversion, it is £100,000 (nominal) but this time the conversion price was just 27.89p. Given that the recent EGM gave approval for the company to convert the full package at an average 44p per share that might mean a bit of a headache.

OptiBiotix – good news: successful SkinBioTherapeutics demerger onto AIM

Published 780 days ago

OptiBiotix (OPTI) skin health-focused subsidiary, SkinBioTherapeutics, has successfully listed its shares on AIM. Good news as OptiBiotix still has a near 42% stake…

Advanced Oncotherapy – ANOTHER RNS mess-up!

Published 780 days ago

Following the botched Director Dealings RNS of Tuesday, this afternoon AIM-listed Advanced Oncotherapy has ‘fessed up to another foul-up. This time it refers to an RNS released way back on November 7th last year when the company announced that it had issued 266,668 new shares from the exercise of options at 87.5p per share. Except that it hadn’t.

Minoan – Company Chat at UK Investor Show

Published 780 days ago

One of the advantages of taking a trip to an event such as the sell-out soaraway success that was this year’s UK Investor Show is the opportunity to meet and speak directly to the very people running the companies in which you might invest or already be invested. I took my opportunity to chat with AIM-listed Minoan (MIN) – a share I’ve held for so long I can’t remember when I first bought it.

Filthy Forty Taihua: to delist 7 months post open offer, six weeks post buy-back (when chairman dumped his shares)

Published 781 days ago

Yet another of the ShareProphets AIM-China Filthy Forty is set to depart the Casino – this time it is the turn of Taihua (TAIH), citing “best interests”, which will become the twenty-sixth casualty of our original forty. Yes, folks - the Filthy Forty is officially set to become the Filthy Fourteen.

Advanced Oncotherapy – another SPOOOOOOOOOF and a screwed up RNS: KEEP SELLING

Published 781 days ago

It seems that AIM-listed Advanced Oncotherapy (AVO) is so desperate to get out any good news it can that it rushed out an RNS yesterday morning to notify the market of director buying and got the numbers wrong. Oops. Great work in checking and verifying there by Nomad Stockdale Securities.

Bowleven – ShareProphets RNS Translation Service reviews Termination of Strategic Review

Published 782 days ago

AIM-listed Bowleven (BLVN) has announced the termination of the strategic review initiated by the previously hung board in the wake of the sack-the-board EGM requisitioned by Crown Ocean, before former Chairman Billy Allan departed the scene. The ShareProphets RNS Translation Service has been taking a look (original in bold).

Filthy Forty: Startling news from Asian Growth Properties as shares roof it

Published 783 days ago

Much has happened since I last looked at ShareProphets AIM-China Filthy Forty play Asian Growth Properties (AGP). For a start, shareholders have seen some storming dividends announced – and paid – and this morning the company has announced proposals which will see a huge cash payment dished out.

DiamondCorp – more bad news: it looks like toast

Published 783 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.

Table of shorted AIM shares - week to 31/03/2017

Published 783 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Wishbone – Good News from Honduras

Published 786 days ago

AIM-listed gold trading play Wishbone (WSBN) has announced the signing of a joint venture deal SION Honduras which will provide funding and expertise to existing small gold mines in Honduras so as to assist with the increase in production. The good news for Wishbone is that the deal involves all the output from those mines being supplied to Wishbone – at preferential prices – in a deal which runs for 30 years.

Milestone – AGM statement ignores the Elephant in the room: WHEN’S THE BLOODY PLACING?

Published 787 days ago

AIM-listed Milestone Group (MSG) has released an AGM statement – but it is not the voting result, it is the Chairman’s statement – to be delivered by Deborah White, who is (corporate governance Red Flag) also CEO. Of course, some of us think that there should have been a change at the helm some while back in the midst of the non-arrival of placing funds scandal which the company was, to say the least, tardy about ‘fessing up to. 

Bowleven – ShareProphets RNS Translation Service dissects Board Changes

Published 787 days ago

This morning AIM-listed oiler Bowleven (BLVN) announced the departure of Chairman Billy Allan and two former board members from the company. Not before time. With a second EGM in the offing the writing was on the wall for them all anyway. The ShareProphets RNS Translation Service has been taking a look at what the company had to say (original in bold).

Obtala - great update and great placing! We are more than 100% ahead - more to come

Published 787 days ago

We tipped this stock at 8.5p (offer) so are 100% ahead but there is far more to come. Obtala (OBT) has followed a quarterly business update with news that it has entered into a conditional subscription agreement to issue £4 million of new shares at 20p each - with also the same amount of warrants convertible at the same price.

ShareProphets AIM-China Filthy Forty Update – unspeakable in pursuit of inedible edition

Published 788 days ago

With the demise of the twenty-fifth Filthy Forty listing, Asian Citrus (ACHL), as of this morning there are just 15 of our motley crew remaining listed on the Casino – and one of those, MoneySwap (SWAP), has now been suspended for more than six months, but it seems the Oxymorons have decided not to apply AIM Rule 41.

Servision – Hurrah! A TR-1 from Cascade. But if it walks like a spoof and quacks like a spoof…..

Published 788 days ago

So after all the questions, AIM-listed Servision (SEV) has provided answers. The AIM Rule 26 pages have been updated (after a year, vs 6-months under AIM rules), the personal guarantee of head honcho Gidon Tahan to white knight investors Cascade has been clarified and yesterday lunchtime we even had a TR-1 showing that Cascade was indeed holding the shares issued to it at over 400% of the previously prevailing share price ahead of the announcement of the funding package. But I still think the whole deal is a massive spoof and here is why.

Amryt - trials of AP101 now underway - broker ups target to 88p: buy at 20p or under

Published 788 days ago

Shares in Amryt Pharma (AMYT) are starting to move the right way and ever faster as clear progress is made with its portfolio. On Tuesday we had the, not unexpected, news that it has started the phase 3 ( that is to say final human) trials of AP101, its lead drug candidate, a potential treatment for Epidermolysis Bullosa (EB). EB is a rare, genetic skin disorder, which causes exceptionally fragile skin.

Filthy Forty Asian Citrus – Hooray: next AIM Execution at close today. Who drank all the Ouzo?

Published 789 days ago

We have already seen three AIM departures this week – and it is only Tuesday. RapidCloud (RCI) and CloudTag (CTAG) were booted off after their Nomads departed and a replacement wasn’t found within a month, and North River Resources (NRRP) delisted because it couldn’t raise cash. Today it looks set to be the turn of ShareProphets AIM-China Filthy Forty Asian Citrus (ACHL) as, amid allegations which look to amount to ones of fraud, the company has admitted that it can’t get overdue accounts out - and so the Filthy Forty will be down to a mere 15.

More Bad News for Advanced Oncotherapy

Published 789 days ago

It has arrived! My £52 costs and 32p investment in one share in AIM dog Advanced Oncotherapy (AVO) is not money wasted.

FRAUD Cloudtag...some morons are on the pitch, they think it's all over....IT IS NOW

Published 790 days ago

Cloudtag (CTAG) has fessed up to dismal results and to the fact that it cannot get a Nomad to act for it and sign off on its lies and thus its shares will be booted off the AIM casino tonight. It talks of a relisting in the future but then it was telling us just the other day that it would get a new Nomad. But having had since January 10 it has failed. No one will act for this fraud. It is game over.

AIM still shrinking as another two bite the dust and more to come this week

Published 790 days ago

As at the end of February the number of companies listed on AIM had fallen to 973 – down from 982 at the end of 2016. Having seen 7 new admissions in the first two months of this year, that means that 16 companies disappeared off into the ether during the same period and the world’s most successful growth market has shrunk back to levels not seen since 2004 in terms of the number of companies listed. This morning saw the demise of Rapidcloud (RCI) and North RiverResources (NRRP).

Twitter Investment Genius from the Costa del Crime Caption Contest & a Lada joke

Published 790 days ago

One of those waiting with baited breath to find out if Cloudtag (CTAG) will be slung off AIM tonight is a genius from the Costa Del Crime with a portfolio from hell who - as at last week was on a countdown to making his or first tweet as we showed HERE. We asked for suggestions as to what that tweet should be. The winner is:

Tom Winnifrith Bearcast - sitting in Shipston it is Cloudtag day! Where is the ouzo Dad?

Published 790 days ago

It seems as if  my father has drunk all the ouzo. Who can blame him? But how will I celebrate if the fraud Cloudtag (CTAG) is booted off AIM today? Join in the fun with our Cloudtag termination clock HERE. Elsewhere I look at Bowleven (BLVN), gosh I loathe its management team, Advanced Oncotherapy (AVO), also run by tossers, and Strategic Equity Capital (SEC).

Bulletin Board Moron of the Week Sponsored by London South East

Published 791 days ago

Well this is a company that will sponsor any old crap and let's face it, 95% of Bulletin Board Morons post on the LSE Asylum. As the countdown to the fraud Cloudtag (CTAG) being booted off AIM next week accelerates you kind of sense which stock will be the focus of most entries. The competition rules are simple. Just nominate the daftest post on a BB or on twitter in the comments section below. Once again, our in-house semi-trained loon Wildes is allowed to nominate his own posts. The deadline for entries is midnight on Sunday 26th March. Post away!

Filthy Forty – Ouzo on ice as it’s eyes down for the next AIM-China execution.

Published 791 days ago

AIM Death Row long-termer and ShareProphets AIM-China Filthy Forty play Asian Citrus (ACHL) was suspended pending accounts way back on 28 September last year after its auditor demanded further testing, including visits to the company’s banks to see the bank statements first hand in the wake of allegations that the books had a few, ahem, “anomalies”.

Ariana – landmark first gold/silver pour at Kiziltepe

Published 791 days ago

AIM-listed gold and silver in Turkey play Ariana Resources (AAU) has announced the first gold/silver pour at its new joint venture Kiziltepe plant in Turkey. It has been a long road but this marks the moment when Ariana completes the transition from explorer to producer – cracking news for head honcho Kerim Sener and his team. So what now?

Tom Winnifrith: The Top short sellers, bears and fraudbusters all together on April 1 - don't miss out

Published 792 days ago

You might hate bear raiders. You might think that short selling is unethical. But what you cannot argue with is that ignoring men such as Evil Knievil when they sniff out a fraud or accounting malpractice will cost you a packet. At last year's UK Investor Show the Country's top bears did a detailed presention on AIM darling Avanti Communications, one of the AIM companies most beloved by professional fund managers. Since that warning Avanti shares have collapsed by more than 90%. This year the bears have new targets.

Asset Stripper Jim Mellon - what are you hiding? Who is on your sinister list

Published 792 days ago

Once again the massively loss making Master Investor show - asset stripped by Jim Mellon five years ago - is taking place in Islington today. Once again Pizza Hardman Darren Atwater ordered a legitimate ticket but was once again stopped at the entrance before he even showed his ticket. Burly security guards said "you are on the list". Jim's list.

Table of shorted AIM shares - week to 24/03/2017

Published 792 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Yet another Cloudtag Countdown clock - how long till the Fady Lady sings?

Published 793 days ago

If no Nomad is prepared to act for the FRAUD Cloudtag (CTAG) then its shares, now suspended, will be booted off the AIM Casino. No AIM = no death spiral funding so it will - very soon - run out of, other people's cash, and will go bust. But the first step is being booted off AIM. And, inspired by liar Amit Ben Haim, we have a useful countdown clock until that ouzo moment. Enjoy.

Saffron Energy Bezzecca update - all good news

Published 794 days ago

Saffron (SRON) has confirmed that it has completed the logistics for a tie up of its Bezzecca natural gas project outside Milan within budget and on schedule. Certificates for mechanical and instrumentation completion have been issued and safety and performance testing is underway.

Frontera – well ahead of itself, sell

Published 794 days ago

One has to marvel at how oily serial disappointment AIM-listed Frontera (FRR) has doubled its share price since yesterday. Has it has a takeover? Nope. Has it announced a gusher? Nope. So what has sparked the rise? It seems  that it is in talks over a possible transaction involving a farm-out or joint operation arrangement within the area of its Block 12 holding in Georgia. But is this just a monster spoof?

Optibiotix - Skinbiotherapeutics demerger: Mr Market does not fully realise what good news this is!

Published 795 days ago

Optibiotix (OPTI) has announced - not before time we might note- that the demerger of its 52% unit Skinbiotherapeutics and its own AIM listing is underway. I should cocoa. Book building is cracking ahead on the Skinbiotix IPO. Optibiotix currently has an adjusted 52% of Skinbiotherapeutics.

Cloudbuy – still no sign of tomorrow's Hartleys but toast certainly on the menu.

Published 795 days ago

AIM-listed e-commerce play Cloudbuy (CBUY) released its full year numbers for calendar 2016 this morning. Having had a rescue refinancing last year and a change of strategy the question was always whether all the good news announced over the last few years would ever be converted into revenue. The bad news is that it hasn’t yet. By the way, as a general point to the company, if you are going to reference notes to the accounts in the RNS and don’t include those notes people will think you have something to hide. It looks poor.

Filthy Forty MoneySwap – another own-goal from Team Stuttard

Published 796 days ago

ShareProphets AIM-China Filthy Forty play and yet another Lin brothers AIM disaster story MoneySwap (SWAP) has finally released its outstanding FY numbers to March of last year and interims to last September. The shares have been suspended pending results since 21 September last year and under AIM Rule 41 the company had until today to get the suspension lifted or get booted off the Casino. But today we learn that the shares are to remain suspended, yet there is no mention of an impending execution. This is a regulatory shambles – especially when we consider the apparent reasoning.

The Telit Sea of Red Flags

Published 796 days ago

Telit Communications (TCM) is still the number one most shorted share on AIM, even after releasing final results last Monday that were welcomed by the market and saw the shares soar 14.6% to their peak of 360p on the day.  But with 10.5% of the stock out on loan to the alleged “smartest guys in the City” you have to ask yourself “What exactly am I missing?”  So began my thought process as I sat down to dissect the accounts.  Here are some quick thoughts:

China FRAUD Aquatic Foods Q4 update: drowning in a sea of Red Flags

Published 797 days ago

ShareProphets AIM-China Filthy Forty purveyor of all things fishy, Aquatic Foods (AFG), has updated on 2016 Q4 trading this morning. In a statement plastered with Red Flags it would appear that the company is nearing the final chapter of the China Norfolk playbook as we are warned that there has been a spot of bother getting cash out of China. Is it bye-bye to the dividend? 

Bulletin Board Moron of the Week Contest Sponsored by the FRAUD Cloudtag (again)

Published 797 days ago

It has only just dawned on me that in exactly two weeks time, at 4.30 PM I shall be cracking open the ouzo to celebrate the fact that no Nomad on AIM is so desperate for cash and morally bankrupt that it will act for the fraud Cloudtag (CTAG). And there will thus be an RNS issued to say that it will be slung off the Casino. As that day looms, how will the Bulletin Board Morons spin that as good news? Happy hunting on Cloudtag threads - and others - as we ask you to nominate the most moronic BB posts or tweets in the comments section below. The deadline is midnight Sunday 19th March and, yes, Wildes our pet in-house loon - can nominate his own posts if he wishes.

Servision – AIM Rule 26 webpage almost a year out of date, and where is Cascade TR-1?

Published 797 days ago

AIM-listed Servision (SEV) still looks to be a story too good to be true. With the company scraping by on boardroom emergency loans and running out of cash, along comes Cascade which agrees to pump in boat-loads of cash at more than 400% of the prevailing share price. We have been told that the first tranche of shares has now been issued (and, indeed, admitted to trading on the Casino), and the cash received. But we’ve not had a TR-1. And why is the company’s AIM Rule 26 major shareholdings web-page almost a year out of date?

Stuttard’s Septic Seven – March update (or is that down-date?)

Published 798 days ago

Marcus Stuttard, as head of AIM, completely trusts and supports the regulatory framework of the world’s most successful growth market. As such, and ever keen to help, ShareProphets put together a beautifully diversified portfolio of AIM-listed stocks for him, so that he could demonstrate his faith in the system he oversees by investing in stocks which we have Red Flagged. How better than to put his money where his mouth is to show us that there is nothing wrong. Last time I revisited the portfolio it was down by some 23%. If that had Mr Stuttard feeling a bit queasy, he had better look away now….

EVR Holdings - valuation insanity writ large

Published 799 days ago

As the well-known saying goes, turnover is vanity, profit is sanity but cash is king!  How then, should you refer to a company that displays either zero or negative for all three?  Welcome to the fantasy world of EVR Holdings (EVRH), the holding company for buzz-word bingo business MelodyVR.

Table of shorted AIM shares - week to 17/03/2017

Published 799 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Igas – hats off to the board

Published 800 days ago

I never thought I’d be saying this, but it is hats off the to the board which looks to have saved the company. This morning AIM-listed Igas Energy (IGAS) updated on its rescue refinancing and it looks to be a done deal. Shareholders will be feeling the pain, but as we have continually warned as the share price declined this was an inevitable consequence of the financial predicament in which the company found itself, the legacy of the Andrew “Piggy” Austin era. 

Cloudtag IR stunning own goal - anyone want an email list of morons - I now have it

Published 801 days ago

This morning AIM , for now listed, fraud Cloudtag (CTAG) had an announcement which was comical and is torn to shreds by me HERE. But it gets better, it sent an alert to all those folks who had registered with it to receive alerts. Then panic stations....

Coal of Africa COO suspended for insider dealing - FFS just fire the bastard

Published 801 days ago

Coal of Africa (CZA) has suspended its COO Mr Michael Jakobus Bronn after noting the judgement and fine against him for " the contravention of the Section 78 (1) (a) of the Financial Markets Act, 19 of 2012." Coal says that it is " in the process of reviewing the FSB findings, the details of which have been made public on 15 March 2017. The Company has placed Mr Brönn on suspension whilst the Company completes its internal review process." So what is Section 78? Let me enlighten you.

Cloudtag - 11 days from AIM death the zombie has news..well not really

Published 801 days ago

In 11 days time if no Nomad is prepared to act for the fraud Cloudtag (CTAG), that is to say to sign off on the lies it likes to tell investors, its shares - now suspended - will be booted off AIM. Unable to raise cash it will go bust. Just to placate the fools who ignored countless warnings and are trapped in this stock and to amuse the rest of us it has today made an announcement. It is horeshite natch and I offer a translation service in bold.

Filthy Forty China New Energy – fundraising, contracts, trading update.....BARGEPOLE!

Published 801 days ago

ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) updated the market on trading for FY2016. The company reported a profit at the interim stage and continued to perform well in the second half of 2016 with revenue (subject to audit) expected to be up to about RMB 72 million. There are also contracts announced totalling about RMB 80 million expected to see project completion in Q3 of this year. So all is going swimmingly – except that the company has raised more money. Clearly the profits are not turning into cash. Why?

Filthy Forty Asian Citrus: Bullsh** RNS, it’s AIM execution ahoy - TW senior’s ouzo lined up for another hit

Published 801 days ago

ShareProphets AIM-China Filthy Forty play Asian Citrus (ACHL) has offered yet another update on its delayed (due to allegations which looks like accusations of fraud) FY16 results. Having tried ever so hard to obtain relevant information and to facilitate additional audit procedures (ie visits to the banks in person) the company has announced that it has initiated legal proceedings to remove relevant senior management members of the relevant subsidiaries. With the shares having been suspended since 28 September execution after six months as long-termers on AIM’s Death Row is scheduled for 29 March. The company cheerfully tells us that the implementation of such changes may take time – ShareProphets RNS Translation Service: it’s delisting ahoy.

Cloudtag Moron - lets beat Tom Winnifrith up: LSE provides platform for inciting violence

Published 802 days ago

Repeatedly, during the past six months, the London & South East Bulletin Board ( aka the LSE Asylum) has removed posts within minutes which offered any criticism at all of Cloudtag (CTAG). Right up to the point that shares in the fraud were suspended on AIM no dissent was allowed. But it appears that the LSE does believe in free speech when it comes to inciting violence against me. My crime, natch, calling out the fraud and so yesterday the post below appeared.

TLOU Energy has the potential to succeed

Published 802 days ago

TLOU Energy (TLOU) was once one of those AIM companies that was hugely popular with PIs and was attracting a lot of attention and hype. Now that has now subsided, I can see real potential with this company going forward given the track record of those who are running it.

Independent Resources down 30% but valuation insane

Published 803 days ago

No doubt the spivs are on the ramp again but shares in Independent Resources (IRG) have dived by 30% to 0.415. That is because the stock has today on ex-rights on the open offer announced today. If you buy now you do not get to take part in a 2 for 3 offer at 0.065p! So do the maths again.

Bulletin Board Moron of the Week sponsored by the Glenwick Ramping Crew - a winner announced

Published 804 days ago

Well thanks to Big Gib and the Glenwick (GWIK) ramping crew for sponsoring last week's Bulletin Board moron contest which served up a raft of entries as you can see HERE. The winner was Juicin Drumroll who spotted this great observation from a Long & Strong Cloudtag (CTAG) moron posting on the ADVFN Asylum with the shares suspended and due to be booted off AIM two weeks from today.

Bulletin Board Moron of the Week Contest sponsored by the Glenwick Ramping Crew & Big Gib

Published 805 days ago

Glenwick (GWIK) was once the darling of the AIM penny stock ramping crew led by twitter loon Big Gib. Naturally it has had various changes of strategy, spunked hundreds of thousands of quid on directors fees, advisors and deals that failed and this morning it was slung off AIM - as discussed HERE. The only question is did Big Gob et al get out at the top as they urged others to buy? So in honour of Big Gob I ask you to post in the comments section below the most ludicrous comment you can find on twitter or on a Bulletin Board this week. The deadline is midnight on Sunday 12 March.

Filthy Forty MoneySwap – new rescue deal in the offing but time running out

Published 805 days ago

ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) announced last week that it was in discussions with a new potential white knight saviour in the form of Wraith Holding BV, a Netherlands-based vehicle of a Mr Gilbert Armenta which has been incorporated for the purpose of investing into the company. But time is running out: having been suspended pending accounts since 21 September last year the company only has until a week on Tuesday to get both Finals to March 2016 and interims to September released or its AIM-listing is toast.

Red Flags Still Fluttering at Mayair Group

Published 805 days ago

Back in August I suggested that Mayair Group (MAYA), which purports to provide clean air solutions in China might not be so different from other AIM listed China plays.

Tom Winnifrith Bearcast - Sound Energy now firmly on the bears radar screens

Published 806 days ago

I refer to young Steve's article earlier on the most shorted AIM shares. The fact is that most AIM shares cannot be shorted at all. There then follows a discussion on Sound Energy (SOU), Boohoo.com (BOO) and Telit (TCM). On a serarate note I look at LGO Energy (LGO). When the facts change what do you do?

Table of shorted AIM shares - week to 10/03/2017

Published 806 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Has the Red Squirrel Gone Mad or has it Just Fallen in with the Wrong Crowd?

Published 806 days ago

Ever since promising a terminally ill colleague, who lost far more than I did on Tim Baldwin’s formerly AIM listed train wreck TXO, that I would do all that I could to prevent Tim ripping off more ordinary investors. I do not really care about so called sophisticated investors and High Net Worth Individuals as they should know better and can afford to lose a few £10ks anyway, unlike ordinary investors who have to rely on what they are told by supposedly FCA authorised firms and individuals. Anyhow what is Tim up to now? Be warned!

Tom Winnifrith is going to flee to Greece and close ShareProphets rather than fight Aidan Earley said the moron: think again - here is our Court filing

Published 807 days ago

How do you keep an idiot in suspense? Over to Copperwindow, a moron on the ADVFN Worthington (WRN) thread who posts about 30 times a day how he is going to be rich and how Aidan Earley is going to crush me in Court. Yesterday, among his posts he stated: 

Igas – more details on proposed refinancing, but has the company got enough bondholder support?

Published 807 days ago

Having (quite correctly) been an out-and-out bear of AIM-listed and overindebted Igas Energy (IGAS) ever since we exposed the dealings of former trougher-in-chief Andrew “Piggy” Austin (before he was shown to the edge of the plank) the potential demise of the company has been on the radar. Here are ShareProphets we have flagged up the eventual destination of massive dilution for shareholders or just a round of toast and the company duly served up proposals for a refinancing at 4.5p. I’m still not completely convinced the board will pull off this deal but despite the dilution the terms proposed look to be a remarkable achievement by the new board – IF it can get it over the line.

AIM enjoys its least bad month for years

Published 808 days ago

In February 2017, AIM lost six companies and gained six companies including 1 readmission leaving membership static at 973 companies. To see a month go by without a net loss of companies on "The world's most successful growth market" will be seen as a triumph and the champagne corks will be popping in Paternoster Square.

Eden Research – what’s with this Oxford Capital announcement? It’s dissolved – who got the warrants?

Published 808 days ago

Eden Research (EDEN) yesterday released an odd RNS. Not so unusual was a statement of total voting rights. But it also contained a statement of outstanding warrants and options. Was the company trying to bury something whilst the city was watching yesterday’s Budget statement? At the centre of this lies Oxford Capital Limited, which was dissolved and struck off on 31 January of this year.

Bowleven – did Artemis plunge the knife before bailing out to Crown and if so where is the TR-1?

Published 808 days ago

A brief line in an announcement by Crown Ocean has caught my eye in the latest twist in the battle to remove the useless board of AIM-listed Bowleven (BLVN). The board’s supposedly flagship farm-out transaction, with which CEO Kevin Hart expressed pleasure, seems to me have placed a maximum valuation of around $25 million on the company’s $100 million spent on Bomono. But I wonder whether major institution Artemis has sold out of the 14 million shares the market was told it held on Monday. If so, where is the TR-1, and did Artemis vote the shares against the board ahead of selling them to Crown Ocean? 

Our last share tip is 70% up in 11 days - our next hot tip is at NOON Wednesday - catch it & 2 more for just £5

Published 809 days ago

That 70% gain is at the bid by the way - what you could sell the shares for! We have no need to bodge our satistics our tips are just good tips. And we are not advising readers to sell yet - we expect them to be banking gains of 100% plus on that one within weeks. That is what we like - share tips that deliver big gains fast!

Tom Winnifrith Bearcast - Extreme Bad Language Special because AIM is an ffing joke

Published 809 days ago

If you object to bad language do not listen. The madness and corruption of AIM, the willingness of the crony capitalists to deceive investors to get away another placing just got to me. In today's podcast I cover Blur (BLUR) - but would commend young Steve's coverage which is superb HERE, FastForward (FFWD) - the Jim Mellon spoof - Advanced Oncotherapy (DOG), Independent Resources (IRG), Amur Minerals (AMC), Sunrise Resources (SRES) and Zenith Energy (ZEN). 

AIM Fraud Odd one Out Contest results

Published 811 days ago

Last week I asked you explain which of the four companies whose logos I showed ( Globo, Cloudtag, Naibu & Polly Peck) was the odd one out. A few of you were game enough to have a stab as you can see HERE.

Eden: the Terpenetech fraud starts to unravel, has the first body been quietly buried?

Published 811 days ago

AIM listed Eden Research (EDEN) has been engaging on fraudulent deals with related party company Terpenetech for six years now. The first deal was a sale which Eden booked but Terpenetech never paid for. Who cares, Eden kept that debt as a current asset for 5 years. Sure the auditors should have kicked up a fuss, the Nomad should have objected but this is AIM who cares about fraud! Of course the far bigger £600,000 fraud waited until August 2015. It was a panama pump classic as you can see here - but this is AIM and Nomad & broker ShoreCap wanted to earn big commission do a placing so everyone again turned a blind eye. But now the cover up is falling apart.

Two ways to play Avanti Coms insanity as the shares head for zero

Published 811 days ago

Poster child for the dogs on AIM heading for zero is Avanti Communications (AVN) which plumbed new lows this week with a dreadful H1 statement. For a supposedly maturing business to have interest expenses more than turnover is astounding. This is a product of its recent insane more-debt-for-debt swap.

Advanced Oncotherapy - Death Spiral accelerating, what about the 25p hurdle?

Published 812 days ago

When AIM uber dog Advanced Oncotherapy (AVO) announced that instead of going for non dilutive funding ( as no-one would provide it) it was being forced to resort to a dreadful £13 million death spiral from loan sharks Bracknor, its shares were 65p. When the death spiral started the shares were 58p. Now it just £100,000 of the death spiral loan notes on the first £1.3 million tranche converted, the shares are just 43p to sell. Bracknor now has three reasons to panic.

Tom Winnifrith Bearcast: Paul Scott vs Tom Winnifrith - the bearcast rumble in the AIM Jungle is scheduled

Published 813 days ago

Yes, I shall be recording my first ever joint bearcast - if one excludes ones where Oakley has chipped in. The date is April 1, my opponent is Paul Scott. Will it be TrakM8 or checkmate? The venue London in a new bonus session at UK Investor Show. I explain more about this total one-off in today's podcast. It is 4 weeks to the day to UK Investor and tickets are 85% booked out so if you are not booked in book NOW! On this podcast I also look at Brave Bison (BBSN) and TrakM8 (TRAK) and how cost cutting can itself prompt a cash crisis. I look at Audioboom (BOOM) with a more generous eye. I look at Glenwick (GWIK), now booted off AIM, which stinks. And I look at the idea of investing in shite companies to make money, ref Red Leopard (RLH) and Cynical Bear. This also brings me to ECR (ECR) where we own shares and I now see arch ramper Big Gib is on board. Over to you Big Gob do not let me stop you!

Is Filthy Forty MoneySwap another AIM-China FRAUD set to depart the Casino?

Published 813 days ago

ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) has been taking up a cell in the Casino’s Death Row since its shares were suspended pending accounts on 21 September 2016. Under AIM Rule 41 it has just days to release numbers or become the 25th departure from the Filthy Forty. Whatever happened to the links to Unionpay? The e-wallet? The software? And is Interim CEO Craig Niven again about to preside over the collapse and disappearance into the ether of a Lin brothers fiasco? 

Filthy Forty Asian Citrus – now interims delayed as Casino eviction draws ever closer

Published 813 days ago

ShareProphets AIM-China Filthy Forty poster-boy Asian Citrus (ACHL) updated the market yesterday that in the light of ongoing allegations of fraud which have thus far prevented release of audited accounts for the year to June 2016, it has now concluded that it won’t get its interims to December out on time either. The shares have been suspended since September 28 last year and now with two sets of numbers outstanding and a deadline under AIM Rules of the 28th of this month to meet or face expulsion from the Casino the fat lady is already humming  a merry tune as she gets the lethal injection ready.

Switch Your Focus from Tiddlers to Leviathens - But Not Any Old Leviathan

Published 813 days ago

Hello Share Swappers. We are now living in even scarier times than usual in Shareland. What with Brexit, Big Donald, a possible new cold war, inflation and growing world debt. We are also being frightened witless by the continuing shocking revelations by Uncle Tom and his top team of investigators. If I were running a shaky company, especially one on AIM, I would not be sleeping - ever.

Table of shorted AIM shares - to 02/03/2017

Published 814 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Buy Saffron Energy at up to 7p - target to sell 12p within months (or weeks)

Published 814 days ago

We should declare that certain team members have invested in this IPO at 5p The IPO was last week and we tipped the stock on its first day of dealings. The shares are now 7p-7.5p - we do not expect any retracement but if there is and you can buy at 7p or less do so big time. We expect to be advising folks to be banking profits at 12p within weeks. Our tip as of last week reads:

Crack out the ouzo, 100% vindication as TrakM8 bailout placing gets underway, investor misinformation confirmed

Published 814 days ago

This morning, after a series of profits warnings, AIM uber dog TrakM8 (TRAK) has announced that there is a bookbuild underway on a £1.66 million bailout placing at just 65p. The shares are now 67p bid so you'd be a moron to participate but conversations are being had between institutional morons and hapless broker FinnCap right now, not withstanding the fact that today's statement lays bare the Nov 28 interim statement as 100% misleading.

Servision: House broker says Spec Buy - shares tumble agin - this smells all horribly wrong

Published 815 days ago

The odour coming out of long term AIM cash guzzling hound Servision (SEV) grows stronger by the day. I sense that this is going to blow up badly and when it does you do not want to be owning the shares. There is something very odd going on. Today's intervention sees house broker Beaufort pushing the stock as a speculative buy. The shares have fallen by 8% and we will come to the, er.... not very good, note later.

Tom Winnifrith Bearcast: Plutus Powergen was doomed when its boss said he liked my work

Published 815 days ago

An early bearcast as, much to the dread of my morbidly obese three legged cat Oakley, we are about to suffer an invasion of the working classes. Of course praising my work was not the biggest sin of Plutus Powergen (PPG), that was its oink on rebasing of options and bonuses. But now it has a bigger problem, OFGEM and I reckon it has every reason to be worried. Then I look at 88 Energy (88E) suspended in Oz but not on AIM ahead of a placing. Then it is on to Amur (AMC) again and to Avanti Coms (AVN) whose shares are just 14,5p. That is 14.5p too high. Finally a long look at changes in retail and what that means for us all. That is based on a Wolf Street article HERE.  I also refer to the series I am running on my 1970s childhood in rural Northants HERE. Gosh the world changes rapidly.

ShareProphets China AIM 'Filthy Forty' update – good riddance Jiasen edition

Published 815 days ago

Since our 24th September previous update, another ShareProphets China AIM 'Filthy Forty' company has followed Geong International and co in 'Geong, Geong' and then Gone - and another has been suspended...

Servision – first tranche of (not Bill Gates’) cash received…..and a clarification

Published 816 days ago

There was no great surprise from AIM-listed Servision (SEV) in relation to the arrival of the first lump of cash from (nothing to do with Bill Gates) Cascade as announced this morning. But there were a few interesting clarifications in relation to the personal guarantee of Servision head honcho Mr Gidon Tahan which are worthy of comment. As for the subscription at a (still) incredible premium, it still all looks too good to be true.

Igas – refinancing at 4.5p on the way (if the bondholders agree), Ouzo time!

Published 816 days ago

I’ve been saying for an age that AIM-listed Igas Energy (IGAS) was a sell and this morning the denoument has arrived. In the wake of previous boss Andrew “Piggy” Austin and his dealings with Equities First, and his legacy to the new board of a massively overindebted company, this morning came the announcement that a restructuring is being attempted at 4.5p per share. I fear that poor Tom Winnifrth senior may be further deprived of that bottle of Ouzo. Actually, if the new board manages to pull this off I will take my hat off to it but there are some hurdles to overcome first.

Bowleven - Corporate Governance Fucktards ISS & PIRC show themselves up in backing discredited board

Published 816 days ago

In reality corporate governance bodies such as PIRC and ISS are, these days, part of the establishment so when it comes to crony capitalist companies on AIM they are part of the problem not the solution. This is demonstrated in spades today by events at Bowleven (BLVN)

Milestone Group Plc – minimal prospects of collecting failed placing monies: the fat lady is warming up

Published 816 days ago

In its final results yesterday AIM listed lifestyle company Milestone (MSG) commented about the semi failed October 2016 placing:

Cloudtag - They think it's all over, It is now! Morons Nil ( again) Sheriff 5 ( again)

Published 817 days ago

Some bear raiders are on the pitch...they think it is all over: it is now! Nope not West Ham winning the World Cup but the stockmarket career of AIM fraud Cloudtag (CTAG). Nomad Cairn has brought forward its resignation from April 10 to last night, the £975,000 placing announced last week has been pulled and it is ouzo time for me while on the council estates the LSE Asylum rampers gnash their teeth. Come on guys, say it slowly "Yet again Tom Winnifrith was right and we are morons, we apologise for all the abuse we gave him, the Sheriff of AIM rocks!"

Milestone Group – Shocking year-end results, surely this lifestyle farce must come to an end soon

Published 817 days ago

I wrote about Milestone Group (MSG) back in November (HERE) highlighting it as one of the best examples of a lifestyle company on AIM. That combined with the lack of disclosure around the (lack of) funding in October suggests one should stay well clear. Today’s results for the full year to 30 September 2016 only emphasise that fact.

Filthy Forty victim #24 Jiasen – ouzo time as voluntary euthanasia sees shares delisted

Published 817 days ago

And so ShareProphets AIM-China Filthy Forty play Jiasen’s (JSI) AIM listing is no more. It has become the 24th delisting from our original forty, after its shareholders voted (having been told it would make a fat-track application to NEX) to leave the Casino on the recommendation of the board. The NEX application didn’t happen, with the company claiming that it was now considering listing in Hong Kong. I’ll believe that when I see it.

Filthy Forty Asian Citrus – (lack of) progress on fraud allegations as Aim execution looms in four weeks

Published 817 days ago

ShareProphets AIM-China Filthy Forty carcass number 24 was taken away from Paternoster (death) Row last night in the form of Jiasen International (JSI). But yesterday the race to become number 25 hotted up as Asian Citrus Holdings (ACHL) gave an update on the lack of progress made in resolving allegations of fraud which its auditor wants to look in to before signing off overdue accounts. With four weeks to go before a one-way trip to the lethal injection room is triggered by reaching the maximum six month suspension period, progress in resolving matters seems to have been non-existent.

Jiasen - less than 3 hours to get out, bid price now just 0.25p

Published 818 days ago

Shares in ShareProphets AIM-Chnia Filthy Forty play Jiasen (JSI) have now slipped to just 0.25p on the bid. Our advice is still to get out while you still can, but time is running out.

African Potash - the fraud raises another £26,550 but who was mad enough to pay 0.045p?

Published 818 days ago

This smells all wrong. Shares in African Potash trade (AFPO) trade at 0.02-0.04p on the NEX lobster pot after being booted off AIM. Since January 9 there have been just 23 trades of which only 2 have been at more than 0.045p. In February there have been seven trades and the most recent to sell have been at just 0.021p. Yet today the company has raised money at 0.045p. Who is that mad?:

Servision – come on Nomad Allenby, the silence is deafening

Published 818 days ago

AIM-listed Servision (SEV) has some questions to answer. I hope it is currently answering them to its Nomad Allenby Capital and that we will have a statement shortly. Having announced a funding deal with US-based Cascade (which has nothing to do with Bill Gates) which seemed way too good to be true – at over 400% of the previously prevailing share price – backed by a personal guarantee from chairman and CEO Gidon Tahan, the nature of that guarantee became rather murky on Friday when it emerged after-hours that he had put up his entire shareholding as security. On what terms?

The broker that raised £10m for Advanced Oncotherapy downgrades its stance on the dog to hold - damning note

Published 818 days ago

If you had raised £10 million for the AIM dog Advanced Oncotherapy (AVO) less than 5 months ago at 100p then your stance on the stock - at 54p-58p- would be some sort of buy. Oh no. broker Beaufort who did indeed raise that cash has today downgraded its stance to, what may be termed a corporate "hold" (i.e. sell) and makes it clear that the shares will fall allowing lower entry points. I should cocoa. Beaufort today opines after the Bracknor death spiral announcement of Friday - the underlines are mine:

Bulletin Board Moron of the Day - tomwinnifrith - NOT!

Published 819 days ago

The ADVFN bulletin boards are so poorly regulated that you can register with any name without any proof that it is yours. And so once again as at 26 February some moron has registered as tomwinnifrith to post as me about Cloudtag (CTAG), natch. I note once again that I am paid to write here, why would I write for free on a chatroom. And moreover why would I write the sort of obvious crap you see below. 

Ariana – more to come as we await final sign-off for production

Published 819 days ago

I marked out Turkey-base gold/silver soon-to-be producer AIM-listed Ariana (AAU) as a buy a couple of weeks back at 1.85p bid. Construction at the Kiziltepe facility was almost complete and the company had indicated that a weather window allowing the last bits to be finished had opened up. The RNS duly followed. Now we await word of technical sign-off of the tailing dam, Ministry sign-off and then a local government operations permit and it is all go.  Meanwhile we have had exploration news from Tavsan suggesting significant resource growth potential.

UPDATED: Reader Poll: which Nomad is so morally bankrupt/financially desperate it will act for the Cloudtag fraud? - its Not Allenby

Published 819 days ago

Cloudtag (CTAG) the fraudulent AIM Company which has repeatedly raised money by telling lies to investors says that with Cairn Financial no longer prepared to sign off on its lies it is in advanced discussions about finding a replacement to avoid its shares being suspended on April 10. Really? Who do you think is so morally or financially bankrupt that they will sign off on lies for a fraudster. I am now starting a poll, if any of the Nomads's below want to deny that they are morally bankrupt and will not take on this work I will update the article. Vote now, deadline midnight Sunday 26 February. Update 1. It is not Allenby.

Notes from Underground: The Fighting' ShareProphets

Published 819 days ago

In the past seven days, 61,990 unique readers read 87,097 pages on ShareProphets. The circulation of the Investors Chronicle is c30,000. Shares is less than half of that. To our critics who think we do not count, we say think again.

Advanced Oncotherapy - The Death Spiral dance begins....timber!

Published 819 days ago

Having promised "non dilutive funding" ad nauseam, on Wednesday AIM listed POS Advanced Oncotherapy (AVO) announced a £13 million death spiral funding with are shylocks Bracknor. On Friday it drew down tranche one and promptly served up another dose of smoke and mirrors for punters. The death spiral dance is now underway. Advanced announced that:

Tom Winnifrith Bearcast: 2 massive rule changes AIM MUST make in the wake of the Cloudtag scandal & the issue of blame

Published 820 days ago

I know some folks want to blame others if they have lost money on the Cloudtag (CTAG) fraud. Well it is fair to hold some to account and make adverse comments and some folks should be doing a perp walk. But ultimately we are all accountable for our own trades whether winners or losers. Moving on this debacle has raised issues which call for two MASSIVE changes to the AIM Rule book: the announcement of Nomad departures and the disclosure or banning of placings based on T+ trades. PS Does anyone have an address for Cloudtag ramper David Greece. Please post in the comments section below in case I get bored and find myself in his locality.

Servision – more on that grant of security over c. 10m shares

Published 820 days ago

Yesterday we asked a series of question relating to AIM-listed Servision and its dealings with an obscure American entity called Cascade which has nothing to do with Bill Gates, when it emerged that it seems that the personal guarantee offered to Cascade by Servision Chairman and CEO (corporate governance Red Flag) Mr Gidon Tahan looks to be taking the form of a grant of security over about 10 million of his shares. Did the grant of security involve Cascade being able to dump said shares on the market? But two other details catch my eye.

Red Flags at Night – NED-share-pledge-for-loan at Lobster-pot China play MiLoc and the read-across to F40 Jiasen

Published 820 days ago

5.34pm on a Friday – truly no-one-is-watching o’clock – and up pops an RNS from NEX- (the lobster-pot formerly known as ISDX) listed MiLoc Group Limited (ML.P) detailing the dealings of a NED in the company’s shares: he pledged a bunch of shares in return for a loan back in September and has now released the stock to the lender. Sound familiar? Are we thinking Equities First? So where is the RNS from September? And then there are the other companies on that NED’s CV – which include AIM-China Filthy Forty plays Jiasen (JSI), delisting on Tuesday, and already delisted (no accounts) LED Holdings (LED) as well as PAQ International (PAQ) which quietly disappeared from the Casino back in 2010.

Table of shorted AIM shares - week to 24/02/2017

Published 820 days ago

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Cloudtag suspended pending an announcement: odds on it is the placing in trouble

Published 820 days ago

At 4.18 PM trading in the shares of AIM listed fraud Cloudtag (CTAG) were suspended ahead of an announcement. I do not know what the news will be but if it was good it would have been rushed out. I assume it is yet more bad news. As I pointed out earlier HERE, Novum Securities has every reason to walk away from the £975,000 placing at 3.75p announced this morning.

Tom Winnifrith Bearcast: More ouzo, vindicated on RapidCloud's descent to zero as well

Published 820 days ago

In the main bearcast today I touch on the Cloudtag (CTAG) fraud but that is really covered in its own bearcast HERE. I do look at RapidCloud which was suspended today and will lose its AIM listing in a month. Who warned you that this would face a "terminal conclusion" 149 days ago? Was it PR wankers Walbrook or Nomad WH Ireland or savants on the LSE Asylum? Er no, it was me HERE.  I then look at Challenger (CHAL) a zero in waiting, Iofina (IOF) and IGAS (IGAS) both of which should also be zeros. I commend today's excellent piece from Nigel, the Deputy Sheriff of AIM,  on the Servision (SEV) scandal HERE. I take Nomad Allenby to task for failing to comment on this and for allowing Servision to mislead mug punters. AGAIN. Finally I take apart overvalued ramp Wey Education (WEY). Its shares are up 33% today. That is a ramp not a reflection of value.

ShareProphets

About ShareProphetsTerms of ServiceForgot My Password
Contact UsPrivacy PolicyForgot My Username
Advertise With UsCookie PolicyResend Account Validation Token
Send Us A Tip

Data by ADVFN / Site by Everywhen /