Results

Xeros Technology – 2018 results… to be calling Neil Woodford with a ‘bring the cheque book’ AGAIN!

Published 20 days ago

Self-styled developer of “disruptive water saving technologies”, Xeros (XSG) has announced 2018 results headlined “good progress towards licensing model”. Natch, with “disruptive” being bandied about here, Woodford’s also about (39.71% shareholding). “Good progress” then?...

Trakm8 – “positive adjusted profit for the second half”… so at least close to net cash generation then? Er…

Published 21 days ago

Telematics and data supplier Trakm8 (TRAK) commences a trading update for its year ended 31st March 2019 with that it “met current market expectations… achieved a positive adjusted profit for the second half” and the announcement includes “at the period end contracts were secured with Ingenie… and another one of the UK's innovative insurance providers. Post year end Trakm8 signed a contract with another new insurance provider… The number of roadside assistance customers deploying Trakm8 solutions across Europe has increased to 7 and the product has been launched in Australia. In the Fleet space new contracts were secured with a number of medium sized fleets”. Good news then?...

Adept4 – follows a late trading warning (where even bullshit earnings on steroids couldn’t help) with “Customer Contract Termination”…

Published 42 days ago

Writing in November on “provider of 'IT as a Service'” Adept4 (AD4) it was “Trading Update” = a late trading warning & even bullshit earnings on steroids can’t help!. Today “Customer Contract Termination”. Uh oh…

Brave Bison – update as shares a further 6.5% higher on RNS Reach announcement!

Published 73 days ago

Brave Bison (BBSN) is “delighted” with a deal with The PGA Tour to “include YouTube channel management, digital rights management, and content strategy development”… and the shares have currently responded a further 6.5% higher, to 3.3p…

Maintel – “expected to be at the top end of the range”, so why are the shares still significantly lower than previously?

Published 111 days ago

A 2018 trading update from provider of communications, cloud and managed services Maintel (MAI) includes “adjusted EBITDA expected to be at the top end of the range” and “the board remains confident in delivering growth in both revenue and EBITDA for the current financial year to 31 December 2019”. The shares have responded higher to 460p – but this still compares to 650p at the commencement of November…

Eagle Eye Solutions – “delighted” on H1 & growth expected to continue into H2… but what about that cash burn?

Published 117 days ago

Eagle Eye Solutions (EYE) has updated on trading including “we are delighted to confirm a strong first half of the year, delivering significant revenue growth and expansion of the customer base, including the addition of Waitrose and Burger King” and “the growth in revenues and volumes is expected to continue into H2”. The shares have not responded excitedly though – currently unchanged at 172.5p…

Escape Hunt – this is bonkers

Published 117 days ago

Hat tip to the UK’s No 1 private client broker for spotting this AIM casino accident waiting to happen.

Audioboom Trading Statement: what it says is bullshit what it does not say is more important – placing ahoy

Published 119 days ago

Free speech denying, relative employing, value destroying serial bullshitter Rob Proctor of Audioboom (BOOM) is at it again with a trading statement that Nomad Allenby should be thoroughly ashamed of, in every respect.

Arena Events – “Trading Update”… & having only listed on AIM in July 2017…

Published 123 days ago

“Trading Update” from “provider of temporary physical structures, seating, ice rinks, furniture and interiors”, Arena Events (ARE) includes in its first paragraph; “The group experienced strong revenue growth across the UK, US and Middle East divisions with the acquisitions contributing as expected”. The shares have though responded to the update… currently more than 30% lower on the day, at around 40p! Hmmm…

Revolution Bars – after weather last time, increased operating costs & economic and political uncertainties this

Published 125 days ago

In June, previously writing on Revolution Bars Group (RBG) I questioned short of expectations in every conceivable weather environment?. Now a Christmas and half-year to 29th December 2018 trading update…

Quiz plc – Christmas revenue +8.4%... so why an approaching 30% share price decline?

Published 129 days ago

“Christmas Trading Update” from fashion retailer Quiz plc (QUIZ) states revenue “increased by 8.4% in the six-week period from 25 November 2018 to 5 January 2019 against the comparable period last year”, with “the group's UK standalone stores and concessions revenue increased by 1.6%”. The shares have responded, er… approaching 30% lower, towards 25p!...

KCom – profit warning, but is it largely new management trying to create an easier platform?

Published 181 days ago

“Trading Update and Revised Dividend Commitment” announcement from telecommunications and related services group KCom (KCOM). The prospective dividend yield was already 6.5% - so I’m guessing it ain’t being revised upwards…

Tungsten Corp – now a “secures SdI registration in Italy” RNS Reach. Hmmm…

Published 185 days ago

Tungsten Corp (TUNG) has emphasised “a significant step” with its certification as an authorised intermediary of the Italian tax authority (‘Sistema di Interscambio, SdI). This following it emphasising “appoints new SVP global sales” earlier this week. Hmmm, anything else behind this recent newsflow?...

Adept4 – “Trading Update” = a late trading warning & even bullshit earnings on steroids can’t help!

Published 185 days ago

“Trading Update” from “provider of IT as a Service”, Adept4 (AD4) sees the shares currently 25% lower, heading towards 1p. Uh oh…

Dividend Munchers: Vodafone calms market with interims

Published 188 days ago

I was really worried I had made a grave error is buying into Vodafone (VOD) for my mini Dividend Munchers’ portfolio. Of course, on the basis of having paid over 190p and the shares subsequently collapsing to well under 150p I clearly had – but fortunately had only piled up half of what I had wanted so by good fortune I escaped the worst. The question was then whether to pile in for more – so the market was wrong – or to accept I had made a mistake. This morning Vodafone offered up its interims.

IQE Clarifies profits warning: as predicted the “crowded bear trade” supports share price (for now)

Published 188 days ago

I noted last night in my bonus bearcast that the real short position in IQE was, whatever the FCA says, probably well North of 20% and that as bears used the profits warning as a reason to close out what is clearly a “crowded trade” this would provide some share price support. And so it has come to pass.  The shares are up 4p at 71p having fallen 29p in late trade Monday. IQE has also clarified its profits warning and that has offered some comfort. It won’t last. You see it is all about cash.

Westminster Group – “pleased to announce” an acquisition… but isn’t it short of cash?

Published 193 days ago

Westminster Group (WSG) “is pleased to announce the acquisition of security and risk management company Keyguard UK Ltd”. But wait a minute; isn’t Westminster itself short of cash?...

Profits warning! Premier Veterinary Group – how’s ‘narrower focus of resources’ working out?

Published 208 days ago

Writing around this time last year on Premier Veterinary Group (PVG) I warned including that it looked to have little choice in more narrowly focusing resources and concluded a bargepole stock. The shares had risen strongly in recent months, but are currently slumping back towards 50p on the back of a “Trading Update”

Corero Network Security – “excellent operational gains” & ‘confidence in prospects’. Really?

Published 256 days ago

Corero Network Security (CNS) has updated including it “has delivered excellent operational gains in the first half of the year, which, coupled with its new business pipeline and developing go-to-market partnerships, gives the board confidence in the company's prospects”. Currently at sub 8.5p though, the shares remain comfortably below 11p they approached in May and 20p of a couple of years ago…

Footasylum – our warnings prove sage as now tripping up badly

Published 259 days ago

Footasylum (FOOT) IPO’d on AIM in November at 164p, with CEO Clare Nesbitt stating we “look forward to delivering the significant potential that we see for Footasylum as a quoted business” and “are delighted that our product-led, multi-channel expansion strategy has resonated so strongly with investors”. I though questioned on competition and disposable income challenges, and concluded that the valuation looked too rich. There then followed deviation from the IPO expectations and now a “Trading Statement” update…

Countrywide – significant equity fundraising reflects far from propitious circumstances. As warned!

Published 291 days ago

I wrote last week on estate agency and property services company Countrywide (CWD) updating including “the adjusted EBITDA for the group for the six months ended 30 June 2018 was slightly better than the guidance previously provided” - and the shares have responded currently higher, back above 50p, but concluded the market cap is still now circa £120 million and with also it to be attempted significant equity fundraising ahoy in far from propitious circumstances, the stance remains avoid / sell. Today half-year results and a “Firm Placing, Placing and Open Offer 2018” announcement – and the shares down towards 17p!...

Eagle Eye Solutions – full-year trading update emphasises a “Breakout year”, so why a 12%+ share price decline?

Published 299 days ago

A trading update for its year ended 30th June 2018 from Eagle Eye Solutions (EYE) is headlined “Breakout year sees delivery of world leading digital loyalty programme for Loblaw”. The shares have responded… er, currently circa 12% lower to around 150p…

Tungsten Corp – full-year results argue “pleased to report on the progress made”, but balance sheet crunch ahoy?

Published 301 days ago

Tungsten Corp (TUNG) is “pleased to report on the progress made in the delivery of our strategic plan and the next phase in the development of Tungsten Network”, with it stating the first two “Financial Highlights” for its year ended 30th April 2018; “Revenue increased 8% to £33.7 million (FY17: £31.3 million); up 9% at constant exchange rates… EBITDA loss decreased to £4.6 million, a £7.2 million improvement from prior year”. Hmmm…

Audioboom – half-year results, “fully funded through to expected cash break even”. You sure?

Published 305 days ago

Podcasting platform company Audioboom (BOOM) has announced results for its half year ended 31st May 2018, including emphasising “revenue increased by 43% to £2.6 million (H1 2017: £1.8 million)… adjusted EBITDA loss reduced to £2.2 million (H1 2017: £2.6 million)… Fully funded through to expected cash break even”. Hmmm…

Be Heard – 15% like for like revenue growth, so why leading the fallers today?

Published 305 days ago

Shares in Be Heard (BHRD) are currently the leading fallers today on the back of a trading update. The digital marketing services group though commences that with revenue up to more than £14 million, including 15% like-for-like growth. So what’s the problem?...

GYG – from confidence “can deliver continued growth” on AIM IPO to trading “significantly weaker than expected” just a year later!

Published 312 days ago

On 5th July 2017 it was “GYG, a market leading superyacht painting, supply and maintenance company, is pleased to announce the commencement… of dealings of its ordinary shares on AIM… Placing price 100p, gross proceeds of the placing £6.9 million… Zeus Capital is acting as the company's nominated adviser and broker”. Now a trading update commencing “trading has been significantly weaker than expected”. Uh oh…

Purplebricks – a smokescreen ahead of Godawful results in the land of the deluded dope fiends (Canada)

Published 322 days ago

The Canadian economy and housing market is tanking, in part thanks to the crackpot socialist policies of its preposterous PM Justin Trudeau. Dope is now legal thanks to the only PM in the world who makes Theresa May look half competent but if you lived in Canada you’d need to be on drugs.  What better place & time to spunk £45 million on buying a cash guzzling estate agency? Step forward Purplebricks (PURP) keen to distract us all from what will be Godawful full year numbers announced later this week.

Countrywide – “Capital Structure, Recovery plan & Trading Update” = Confetti Aplenty Ahoy, Changes due to poor trading & Profit Warning

Published 329 days ago

“Capital Structure, Recovery plan & Trading Update” announcement from Countrywide (CWD) – discounted fundraising ahoy to fund changes due to poor trading?...

CAP-XX – trading update; “pleased to announce”… but it’s a forecasts miss!

Published 334 days ago

CAP-XX (CPX) has updated on trading, commencing “as it approaches the end of its financial year ending 30 June 2018, the company has received a sharp increase in enquiry levels across all product ranges… Total enquiries, if converted to orders, would amount to annualised sales in excess of US$20m per annum” - and the shares have currently responded higher, back towards 10p…

Footasylum – argues “pleased to report a strong performance”… but in reality merits an IPO roll-call of shame

Published 335 days ago

Footasylum (FOOT) is “pleased to report a strong performance for the financial year, our first as a quoted company following our successful IPO last November… The board was delighted with the support we received for the IPO”. I doubt shareholders are pleased or delighted though – shares in this 164p per share IPO, currently trading well below 100p following a dramatic slump on the “pleased to report” results!...

Revolution Bars – short of expectations in every conceivable weather environment?

Published 340 days ago

Previously writing just over a year ago on Revolution Bars (RBG) it was on it going from ‘platform to be confident about our prospects’ to profit warning in less than 3 months. Then heading towards 130p, the shares jumped a couple of months later on a 200p per share possible offer approach. However, an offer was voted down by shareholders and the shares have subsequently fallen back towards 150p before a Trading Update today…

PHSC – reports swing to positive EBITDA, so why do the shares remain depressed?

Published 346 days ago

Provider of health, safety, hygiene and environmental consultancy services and security solutions, PHSC (PHSC) has updated including “the group achieved a positive EBITDA of approximately £184,000 for the year ended 31 March 2018, before allowing for £47,000 of redundancy costs associated with the closure of ALS, (31 March 2017: loss of £99,767)”. So, why do the shares remain depressed at a current 10.5p?...

MediaZest – 3 deals which were to usher in positive EBITDA closed. BUT…

Published 362 days ago

An update from audio-visual projects company MediaZest (MDZ) commences “as announced at the time of the interim results on 15 December 2017, the group expected to show a positive EBITDA at group level for the first time in respect of the year ended 31 March 2018, subject to the closing of three large deals. All three of those deals have been successfully closed”. Good news then? Er…

Blue Prism – argues ‘strong momentum’, but follow the CTO, Sales director & ‘Chief Evangelist’?

Published 369 days ago

Blue Prism (PRSM), “a global leader in Robotic Process Automation, is pleased to announce a pre-close trading update in respect of the six months ended 30 April 2018”. Ooooh - a more than £1 billion capitalised “global leader” pleased to update, should be good then…

Vipera – trading update, looking forward “with great confidence”… but right to remain sceptical?

Published 420 days ago

Having last week announced a 7.5p per share possible offer for the company, mobile financial services provider Vipera (VIP) is now “pleased to announce a trading update in respect of the year ended 31 December 2017”. Hmmm, only doing this now, almost three months after the year-end? But at least “pleased to announce”, right?...

Conviviality – if the shares don’t respond as hoped, announce news again!... And then it gets very much worse

Published 432 days ago

Trading update on Thursday from Conviviality (CVR) included that “following a review of current year projections, the company now expects that adjusted EBITDA for the current year will be approximately 20% below current market expectations”, but sought to reassure that “the company has not seen any material weakness in overall demand” and was followed by some director share buying. The shares though remained depressed... and there was then a 1:06pm Update to announcement. There's now a 'Further Update'...

LoopUp Group – 2017 results emphasise “ahead of market expectations”… but what’s already in the price?

Published 440 days ago

Remote meetings technology group LoopUp (LOOP) has announced results for the 2017 calendar year, emphasising “we are very pleased to report continued strong business performance ahead of market expectations at all key P&L levels. Our track record of consistent revenue growth in excess of 30% has been maintained, gross margins have improved further and LoopUp EBITDA has grown by 161%”. EBITDA is though, of course, bullshit earnings so what’s the real story…

UP Global Sourcing – despite listing less than a year ago… ANOTHER profit warning!

Published 462 days ago

Trading Update and Notice of Results announcement from consumer goods company UP Global Sourcing (UPGS) including “it should be noted that H1 2017 was an unusually strong period for the group” - this in an update for its half year ended 31st January 2018. Uh oh…

7digital – 2017 “better than market expectations”… but it’s talking “adjusted LBITDA”!

Published 465 days ago

Year End Trading Update from 7digital Group (7DIG) includes “revenue for 2017 is expected to be up 52% at £17.3m” and “losses at adjusted LBITDA level are expected to be significantly reduced from the previous period and be better than market expectations”. The shares have nudged ahead to 5p – though I note this still well down from start of 2017 levels…

Accrol – I having previously noted management flux, it’s again “Board Changes”

Published 468 days ago

Writing on Accrol Group (ACRL) previously last month, business and management flux saw me remain sceptical. Now a Board Changes announcement…

Cloudbuy – warns on revenue, when will the cash run out?

Published 480 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.

LoopUp – updates “ahead of market expectations” & “remain confident”, so why are the shares lower?

Published 481 days ago

Remote meetings software group LoopUp (LOOP) has updated including “continued strong business performance ahead of market expectations” and “we remain confident in our ability to deliver future growth”. The shares have currently responded more than 4% lower, to 375p. Hmmm…

Blue Prism - a bearish reader opines & he is too damn right!

Published 484 days ago

I noted yesterday that Blue Prism (PRSM) was one of the most shorted shares on AIM. And having had a butchers at the numbers I can see why.

Idox – 3:45pm “Year End Trading Update”. Uh oh…

Published 551 days ago

I previously wrote on information management software and services company Idox plc (IDOX) with the shares above 60p in August, concluding that I’d at least want to see some concrete evidence towards delivering the growth forecast and improving cash flow and balance sheet dynamics before considering this stock as an investment. There’s now been a 3:45pm “Year End Trading Update” announcement. Uh oh…

Escher Group – late-year ‘trading update’ here seemingly means only one thing

Published 552 days ago

A 4th December 2015 “Trading update” from Escher Group (ESCH) was a warning that “the group will not now close additional license sales that it had expected in H2”. There was no late-year update in 2016, but this year there’s now a “Trading Update”. Hmmm...

eServGlobal – following the recent pump…

Published 577 days ago

At the end of June I commented on eServGlobal (ESG) that the interims argue “strong outlook” & Homesend “sales expansion”, but that the financials remained troubling. There’s recently been a pump – 2nd October; “HomeSend progress in the banking market”, 10th October; “eServGlobal outlook and business update” announcements – seeing the shares up from sub 8p at the end of last month to above 12p, closing yesterday at still above 10p… and so now “the company is pleased to announce”

Telit - predictably dire bullshit earnings warning amid vague statements

Published 598 days ago

Yosi Fait the proven insider dealer who runs AIM Casino posterboy Telit (TCM) because Sam Smith's morally bankrupt Nomad FinnCap does not care if its client firms are run by criminals, has served up a bullshit heavy (bogus) profits warning.

Tungsten Corp – AGM update, EBITDA breakeven ‘remains goal’. Who’s paying for the capex? The tooth fairy?

Published 612 days ago

Shares in Tungsten Corp (TUNG) are currently edging higher, above 60p, on the back of an AGM trading update – this though comparing to above 70p as recently as June and approaching 400p in 2014…

Tom Winnifrith Bearcast: EBITDA, bullshit earnings, explained for Bushveld shareholders and other morons

Published 635 days ago

With reference to both Bushvalend Minerals (BMN) and the late lamented Southern Salads I explain what EBITDA is and why it really is bullshit earnings. Enjoy.

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 637 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.

PHSC – full-year results state recent “improving picture”, so why are the shares sliding?

Published 647 days ago

PHSC Plc (PHSC), “a leading provider of health, safety, hygiene and environmental consultancy services and security solutions”, has announced results for its year ended 31st March 2017 which feature as the first two “Financial Highlights”“Underlying EBITDA loss of £0.1m, down from a profit of £0.368m last year… Group revenue rose to £7.16m compared with £7.04m last year”. Hmmm, “a leading provider” ya say?...

Telit - as we often predicted this is the day the disaster unfolded, but can the CEO explain his £24m share sale?

Published 651 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.

Zinc Media – believes profitability “will increase substantially”… though it talking ‘adjusted EBITDA’?

Published 654 days ago

I previously wrote on TV and multimedia content group Zinc Media (ZIN) on its results for its half year ended 31st December 2016 HERE. Recently the company, and now also its broker, have updated…

Shit sandwich with jam tomorrow on top: trading statement from Avanti Coms - but here's what its hiding

Published 685 days ago

Avanti Communications (AVN) has surprised no-one with a grim old trading statement covering the year to June 30th 2016. But the CEO who boasts of how he misled investors with a faked demo to raise funding has - as usual - tried to make a shit sandwich more palatable by serving it covered in oodles of jam tomorrow. But there is something that bombastic prick David Williams is not telling you....

Lombard Risk Management – emphasises ahead of expectations, but what about sustainable cash generation?

Published 761 days ago

Lombard Risk Management (LRM) has updated that it anticipates exceeding analyst consensus expectations for its year ended 31st March 2017 and “remains confident” looking ahead. What’s that though expected to be “in the region of £2.4m to £2.8m”“Adjusted EBITDA”. Hmmm…

Kalibrate Technologies – interim results show how ‘bullshit earnings’ were the previously announced EBITDA

Published 796 days ago

After a profit warning in January, CEO of Kalibrate Technologies (KLBT), Bob Stein, is “pleased to report our results for the six months ended 31 December 2016. Hmmm. The shares have responded lower, back below 60p…

LoopUp – 2016 results emphasise “strong performance” & “positive outlook”, so why are the shares lower?

Published 803 days ago

A 2016 results announcement from remote meetings technology group LoopUp (LOOP) includes “we're very pleased to report strong business performance and a positive outlook in our first set of annual results as a public company”. So why are the shares currently more than 3% lower, at 156.5p, in response?...

Monitise – reckons half-year results demonstrate transformation programme working. Hmmm…

Published 816 days ago

A half-year results announcement from cash guzzler (Oops sorry, “digital technology group specialising in financial services”), Monitise (MONI) emphasises “our transformation programme is nearing completion, and continued half on half EBITDA profitability demonstrates that it is working”. Hmmm, EBITDA is though of course bullshit earnings, so what’s the real story?...

NCC Group - Oops - that accursed word "strategic review," + adjusted bullshit earnings - this all stinks

Published 818 days ago

Shares in NCC Group (NCC) have slumped by 9.5% to 162.5p in late trade after a shocker of an announcement posted at 4.16 PM today. Not quite no-one is watching O'Clock but still late in the day. If you were on your way to the capital markets investor rampfest day it was holding tomorrow, don't bother. It has been cancelled. Cheers,my cyber security expert friends, did you not know you were going to have to issue a shocking profits alert until just now? How long have you been sitting on this bad news? Thanks. can I get a refund on my train ticket?

Hayward Tyler – second half weighting, though not ‘as expected’…

Published 819 days ago

An update from engineering group Hayward Tyler (HAYT) commences that, “as expected”, there is proving to be a second half weighting “with aggregate order intake of £24.3 million secured in the four months to 31 January 2017… and a significant increase in the order book to £52.2 million”. Sounds promising… but what? “The board now anticipates reporting lower revenue for the financial year ending 31 March 2017”?!?...

Brave Bison – more ‘wrongster’ from the previous Rightster Group, disastrous profit warning…

Published 822 days ago

A 10am “Trading Update” announcement from Brave Bison Group (BBSN), a company which has previously proven a wrongster. Uh oh…

eg solutions – shares soar on update emphasising “now real momentum within the business”, what now?

Published 826 days ago

Back-office workforce optimisation software company eg solutions (EGS) has issued a “Trading Update & Master Services Agreement Signed” announcement. The following updates with the shares presently soaring higher, to a current approaching 50p, in response...

blur Group – says “progresses on its path to profitability”, but it looks cash crunch ahoy first!

Published 831 days ago

blur Group (BLUR) has announced “key metrics for Q4 2016”, in the same opening paragraph noting “FY 2016 EBITDA is expected to be ahead of expectations”. EBITDA is of course not a ‘key metric’, but bullshit earnings. What about the real key metrics – cash generation and the balance sheet position?...

Kalibrate Technologies – profit warning from leading 'bullshit earnings' exponent

Published 846 days ago

Shares in provider of bullshit earnings (Oops sorry, “provider of strategy and technology services to the global fuel and convenience retail industry”), Kalibrate Technologies (KLBT) are currently more than 18% lower, at 57.5p, on the back of a “Trading Update” announcement. Profit warning AHOY!...

Countrywide – full-year trading statement, a “pleasing” performance?

Published 857 days ago

Following Foxtons earlier this week, Countrywide (CWD) has now updated for the 2016 calendar year with CEO Alison Platt claiming “it is pleasing to report modest full year revenue growth”. Hmmm…

AO World – argues “Continued Growth and Strategic Progress”, BUT…

Published 858 days ago

UK and Europe online electrical retailer, AO World (AO.) headlines a trading update for the quarter to 31st December “Continued Growth and Strategic Progress”, though the shares are currently approaching 8% lower, at 170p, in response. Hmmm…

RedstoneConnect – “Business Update” review, still one to watch?

Published 860 days ago

Having previously concluded that shares in ‘smart’ buildings and workspaces-focused RedstoneConnect (REDS) remained on the watchlist at 1.60p, I now note a “Business Update” announcement from the company…

ShareProphets share tips of the year number 23: Sell Telit Communications says Tom Winnifrith

Published 868 days ago

Telit Communications (TCM) is the most heavily shorted stock on AIM but its share price has proved incredibly resilient. At 275p it is almost up at 2016 year highs and the company is capitalised at £317 million. But you simply cannot defy gravity forever and, as a sell, it is my next share tip of the year.

Gaming Realms – claims “maiden profitable quarter”, but was it really?...

Published 929 days ago

“Q3 Trading Update” from developer, publisher and licensor of mobile real money and social games, Gaming Realms (GMR) commences with the headline “Strong revenue growth and maiden profitable quarter”. Sounds good, but is the reality such?...

Lombard Risk Management - headline blather excellent, but hidden cashburn terrifying

Published 942 days ago

Under its old management led by John Wisbey, Lombard Risk Management (LRM) used to make profits and pay dividends. How fucking old hat and boring is that? Think like a millennial and get the cashburning vibe, that is the way forward and who better to do that than a man fired by Oracle (yet who boasts about his Oracle career ) & who was at the helm of a spectacular dotcom disaster, Phil "Interx" Crawford. Interims today score straight 10s for bullshit headline blather. But look at the hidden cashburn, extrapolate and panic.

blinkx – massive FY2016 loss, but now reckons set “to fuel high quality organic growth”. Hmmm…

Published 1098 days ago

Internet media company blinkx (BLNX) headlines its results for its year ended 31st March 2016; “Company records 68% growth in Core programmatic revenues while simultaneously reducing annualized operating expenses by $40M, during a year of rapid Industry evolution and reaffirms its expectation to return to full year profitability1 in Financial Year 2017”. All good then? Er, not quite…

Avanti Coms: another jam tomorrow, cash munching update & piddly director purchases scream SELL

Published 1099 days ago

Institutional investors continue to sell. But Avanti Communications (AVN) directors hope that piffling share purchases by themselves will persuade mug punters to follow suit. Do I care that David Williams (total package last year $1,154,445 after another year of mega cashburn) has bought 5,434 shares at 91.5p taking his holding to 1,709,144. Seriously? A guy who earns c$20,000 a week for trainwrecking this company has bought £5,000 of shares? And that is meant to show he has faith in the company? If anything it shows he has none. Now to the Q3 trading update.

eServGlobal – claims “significant contract”, but guidance only maintained; PLACING AHOY!

Published 1123 days ago

eServGlobal (ESG) has announced what it immediately claims as “a significant contract to supply its PayMobile software”. However, despite approximately €2.5 million of the €6 million contract value to be recognised in the company’s current year to 31st October, it only “maintains” financial guidance. Hmmm…

Red Flags at Night: Rurelec trading/funding update - ShareProphets RNS Translation Serice

Published 1131 days ago

We have known that the Peter Earl AIM-listed train-wreck Rurelec (RUR) has been in some financial difficulty for some time. Mr Earl departed the scene last June, but the fire-fighting for the new board has been on-going ever since. Last night at no-one-is-watching o’clock (4.55pm) the company gave an update on its funding arrangements and trading in what must be a classic case-study for all MBA students on how to deliver bad news. Over to the ShareProphets RNS Translation service for the low-down on last night’s announcement…..

Reader Competition: what does EBITDA stand for?

Published 1140 days ago

We all know that on the world's most successful growth market EBITDA is a popular way to present bad numbers as good ones. But what do those letters really stand for? Post your answers in the comments section below.

DP Poland – 2015 results; company ‘encouraged’, I not so much…

Published 1155 days ago

Results for 2015 from the company with the exclusive right to develop, operate and sub-franchise Domino's Pizza stores in Poland, DP Poland (DPP) are headlined “System Sales up 22%. Total corporate stores deliver PLN+1m EBITDA for full year. Commissary makes strong contribution. Group EBITDA losses reduced by 31%”. Hmmm, use of ‘bullshit earnings’ in the headline then, let’s take a proper look…

Alternative Networks – futility of attempted ‘no one watching o’clock’ “Trading update” again shown

Published 1179 days ago

A 5:06pm “Trading update”, Uh oh. A 24th February such announcement from IT and telecommunications provider, Alternative Networks (AN.) commenced that “the group's Advanced Solutions business continues to make good progress following the completion of the integration of the acquisitions made in 2014…”. Oh, ok. “… This has recently been offset by significant ongoing pressures in our mobile business”. Uh oh, here we go…

Tungsten Corp – trading update reiterates much, but there’s a significant omission

Published 1196 days ago

Tungsten Corp (TUNG) has updated that “trading in the third quarter was in line with market expectations, and that revenues for the full year to 30 April 2016 are expected to be broadly in line with its previous guidance”. With that guidance – for “revenue of at least £27.5m” – emphasised as recently as December, the now only “broadly” in line has helped the shares currently around 8% lower today towards 60p. And there is more…

Monitise trading update, EBITDA (bullshit earnings) now positive… or not?

Published 1215 days ago

Monitise plc (MONI) has announced a half-year trading update – the second bullet point of which is “Existing businesses generating positive EBITDA going forward”. Hmmm. As per Charlie Munger, EBITDA is ‘bullshit earnings’ but at least this now seems to be “positive” here I suppose… or is it?...

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