Results

Northwest Investment Group – heading for the knackers’ yard?

Published 3 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.

Milestone Group – surely not another dodgy share issuance?

Published 7 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?

A glimmer of light at the end of the tunnel for Ferrum Crescent?

Published 14 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 15 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.

Some very blatant pumping preceded the Canadian Overseas equity issue

Published 17 days ago

Spotting a placing coming on the smaller shares isn’t always that hard, and is usually a combination of the company getting to a point in time where typical cash burn suggests that funds will be low, and perhaps even more importantly, taking note of those who suddenly seem very keen on that particular company!

Big Sofa Technology: Well, I was pretty close but what next?

Published 19 days ago

I’m not particularly good at being smug but it would be remiss of me not to give an update following Big Sofa’s (BST) interims on Friday as I was pretty spot on. For completeness, Tom has already covered his thoughts in a Bearcast and a separate article HERE and HERE respectively, but here’s my take on it.

Yet another failure for Arian Silver is hardly a surprise!

Published 21 days ago

The only real surprise when it comes to persistent AIM failure Arian Silver (AGQ) is that some people thought that things were actually going to turn out differently this time around!

Advanced Oncotherapy Interims: cash-guzzler extraordinaire but the tank is empty

Published 21 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.

Serica Energy is on the verge of restarting production - worth a nibble?

Published 25 days ago

When it comes to the AIM resources sector, any sort of delay or news which is perceived to be negative can have a negative effect on the share price which is far from justified. Of course there is a lot of junk on the market and when bad news comes and it inevitably crashes, it is of no real surprise, but there are other companies where a temporary hit to the share price can present a great buying opportunity.

Advanced Oncotherapy – interims preview

Published 26 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 26 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.

The future looks bleak for Ferrum Crescent - another placing isn't far from being needed!

Published 32 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.

Gulf Keystone is a very different company these days - buy

Published 38 days ago

Gulf Keystone Petroleum (GKP) was one of the most hyped up oil companies that I have ever seen during my time in the markets, and although that all ended in tears, I think it could be worth another look now as it has changed a lot since those days.

CSF Group looks screwed, yet the pump continues!

Published 42 days ago

Hardly a day goes by on AIM without some complete piece of junk being pumped up to some crazy share price level, and it often happens as a result of private investors failing to actually read RNSs properly and understand what they mean. Today has been the turn of failing IT company CSF Group (CSFG).

Why I'm happy to be holding shares in suspended Central Asia Metals

Published 44 days ago

Although you can’t currently trade shares in Central Asia Metals (CAML), given my bullishness on the company I felt that I should take a look at the current situation following news of a suspension in trading at the start of the week.

NEX Exchange: which Corporate Adviser’s been a naughty boy, then?

Published 48 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.

Filthy Forty Aquatic Foods – still delayed FY16 results Jackanory

Published 50 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?

EnQuest could be even cheaper after its interims - following problems at Kraken

Published 50 days ago

Delays to the Kraken field reaching full production levels could prove costly for EnQuest (ENQ), as it will leave a large gap in expected revenues up until that point.

Liquid natural gas could still be very profitable for Ophir Energy in the future

Published 51 days ago

Ophir Energy (OPHR) has made far slower progress than many could have imagined a few years back, but the oil and gas fields which attracted many in the first place are still there, and the chances of them being developed still look very good.

Frontera: after-hours placing and directors’ subscription

Published 51 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.

Genel Energy remains a long term hold for me

Published 54 days ago

Genel Energy (GENL) has been one of a number of mid-tier oil and gas companies which really took a hit during the slump in oil prices over the past few years, and had seen its share price decimated as a result.

UK Oil and Gas and Regency Mines – deal completes, which one is a BUY (if either)?

Published 56 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.

Central Asia Metals is probably the most under-valued commodity play on the market!

Published 62 days ago

There are times when a large background seller can present a good buying opportunity, and an institutional investor offloading shares isn’t always a sign that the company is failing to perform.

Advanced Oncotherapy – how’s the cash position? Still a stonking SELL.

Published 63 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?

Cloudbuy interims – losses being cut, but will it be enough?

Published 65 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?

Ferrum Crescent - still burning through cash and achieving little of note!

Published 66 days ago

With any AIM listed natural resources company it is always interesting to look at where the company is at this point in time when compared to the accumulated losses of the business since it started.

Kaz Minerals offers a buying opportunity on this dip

Published 68 days ago

Kaz Minerals (KAZ) is a great example of the extent that commodity prices can effect larger miners, and the recovery in copper prices has seen the share price trading at multiples of where it was just 18 months ago.

RedX – Administration proposals raise awkward going concern questions

Published 71 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.

It's time to consider banking some profit on Dotdigital

Published 74 days ago

Even with shares which have exhibited steady share price growth over a period of years there comes a time when you have to consider selling up and moving on, especially in cases where the market valuation looks to be ahead of the financials.

Waseem Shakoor on Frontera – no money, no CPR due, no JV imminent, Varang walked?

Published 75 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.

Entu equity holders face wipe out - yet some PIs continue to buy!

Published 76 days ago

Over the years I’ve watched the dying stages of a number of companies with interest, and in many cases you see a similar pattern in terms of share price movement.

Sylvania continues to deliver a strong performance - buy for the longer term

Published 81 days ago

Sylvania Platinum (SLP) is a company which I’ve followed for quite some time and hold shares in myself - and I view today’s unexpected acquisition news as being positive for the company moving forwards.

ASA Resources – oh dear: shares suspended pending financial clarification, more wholesale theft and fraud on AIM

Published 83 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.

Is Nu-Oil being desperately pumped by the latest placees?

Published 86 days ago

Nu-Oil and Gas (NUOG) is a company that I covered a couple of weeks back as being totally over-valued, and although it has pulled back a bit I think it potentially has further to go.

F40 Origo – disposals: how’s the NAV doing?

Published 87 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?

Central Asia Metals looks a great longer term investment in copper

Published 91 days ago

On the AIM market these days it seems as though many would far rather buy into the latest pump and dump on a piece of junk, than invest in a company that is actually running its business properly and making money. The problem with putting your money into junk is that at some point true value normally shines through and the resultant share price crashes can be spectacular.

AIM-China Grand Group – oh dear, now the Chairman walks. Get out!

Published 95 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.

CloudCall – H1 trading update emphasises board's confidence, but sufficient to make the shares a buy?

Published 100 days ago

Shares in cloud-based software business integrating communications into CRM platforms, CloudCall (CALL) are currently accelerating beyond 100p on the back of a first half of 2017 trading update…

If all else fails - buy a lithium licence! The "business plan" for AIM joke Arian Silver

Published 103 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.

Imaginatik – “pleased to announce” open offer result. Really?

Published 105 days ago

Previously writing on Imaginatik (IMTK) in April, I questioned the progress being made and attempted discounted fundraising ahoy? Last month there was a “Placing and Open Offer to raise up to £1.9 million” announcement and this week a “Result of Open Offer” announcement...

F40 China New FY16 numbers: headlines good, details are another matter

Published 112 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?

China fraud Aquatic Foods – still can’t get the cash out of China, no results = SUSPENDED

Published 113 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. 

Grand Group: FY16 numbers a fitting tribute for a F40 wannabe, or a straight buy?

Published 114 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 115 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? 

Sylvania Platinum looks to offer great long term value

Published 125 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.

Some might think Oilex looks cheap - it isn't!

Published 135 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.

Torotrak – value destruction-enforced General Meeting held. Reckons “no further action” necessary. Hmmm…

Published 142 days ago

“S656 General Meeting Update” from Torotrak (TRK). But it doesn’t seem to have released the results for its year ended 31st March 2017 as yet?…

The People's Operator burns through cash at an astonishing rate

Published 143 days ago

The People’s Operator (TPOP) was once a favourite with private investors but its share price has taken a tumble since the latter part of 2016. However, I believe that it is still well over-priced at its current level.

Petrofac can still recover after recent bad news

Published 145 days ago

Petrofac (PFC) has seen its share price get absolutely hammered in recent weeks, and although some will probably think I am mad, I can see a buying opportunity here at these levels.

Filthy Forty Aquatic Foods – problems getting the cash out of PRC? Er…..

Published 150 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….

Disappointing updates from Lonmin suggest further weakness to come

Published 157 days ago

Lonmin (LMI) is a company that I have followed closely for several years, but after the latest updates this week, and with platinum still looking weak, I wouldn’t be in any rush to buy.

DiamondCorp – Fat Lady in full flow and an investment lesson

Published 163 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.

Another good update from Randgold Resources - still a buy

Published 165 days ago

I have been a fan of Randgold Resources (RRS) for a long time and the latest update from the company continues to support my bullish view here.

I don't view Blenheim Natural Resources as an investment, but can see a potential trade

Published 171 days ago

Regular readers here will know that I am not exactly a fan of Blenheim Natural Resources (BNR), nor have I ever been despite plenty of interest from private investors in this company.

Another decent update from Sylvania Platinum

Published 176 days ago

I’ve been a fan of Sylvania Platinum (SLP) since early last year and during that time the share price has doubled, and the latest operations update has certainly done nothing to alter my view of the company.

Imaginatik – what’s with the radio silence?

Published 180 days ago

I previously updated on Imaginatik (IMTK) following results for its half year ended 30th September 2016. Those showed further underlying cash burn seeing cash to a low level, though noted recent improvement. However, I noted the company also stating it was now further “investing in our sales and marketing resources and technology suite”. Having released trading updates on 9th March 2016, 11th February 2015 and 14th April 2014, what about this year?...

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

Published 184 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…

Orosur looks under-valued as gold shows continued strength

Published 184 days ago

Orosur Mining (OMI) certainly isn’t amongst the more popular resource stocks on AIM and trading volumes are often verging on non-existent, but I believe that many are missing an opportunity here as they go chasing rainbows with companies that are years away from production, assuming they ever actually get to that stage!

Westminster Group – emphasises “pleased” & placing “oversubscribed”. Hmmm…

Published 184 days ago

Westminster Group (WSG) “is pleased to announce a placing” (to raise a gross £1 million at 10p per share) and “the conversion of the balance of the convertible loan notes issued to Darwin Capital Ltd eliminating the facility”. The shares have though responded more than 15% lower…

Cloudbuy – AGM statement: it’s jam tomorrow (honest, this time, guv’!)

Published 185 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.

Falcon Media House – A welcome return? Part 2 – Where has all the cash gone?

Published 186 days ago

Apologies for the delay in this mini-series (Part 1 of which can be accessed HERE) but I thought I’d do the decent thing and ask Falcon Media House (FAL) some questions directly first. As it has ignored me, I thought I should just crack on instead and now turn to the worrying matter of the fast vanishing cash balance, both historically and forecast.

Sanderson Group is showing steady growth

Published 192 days ago

I always seem to come away from the UK Investor Show having found at least a couple of companies which I had never looked at previously piquing my interest, and this year’s event was no exception.

Central Asia Metals - the best value mining stock on the market?

Published 198 days ago

A few weeks back I wrote a piece here suggesting that Central Asia Metals (CAML) was one of the best value mining shares around, and following the release of its final results I believe that to be even more the case now.

Servision – Hurrah! A TR-1 from Cascade. But if it walks like a spoof and quacks like a spoof…..

Published 205 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.

FastForward Innovations – All the cash has gone so when’s the placing?

Published 208 days ago

Having been put in a bad mood with the disappointing Schoold deal that I covered HERE, I thought I’d dig a bit deeper to see how much cash is left in Jim Mellon backed FastForward (FFWD) business and what I think that means for the future and why it looks overvalued to me.

Cloudbuy – still no sign of tomorrow's Hartleys but toast certainly on the menu.

Published 212 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.

CAP-XX – interims argue “excellent progress”, but financials look CrAP (XX)

Published 214 days ago

Self-described “world leader in the design and manufacture of supercapacitors, which considerably extend the performance of batteries”, CAP-XX (CPX) has announced results including that it “has again made excellent progress over the six months to 31 December 2016 and beyond in building on and refining its strategy”. Sounds positive. What? The shares currently 16% lower, at 8.5p?!?…

China FRAUD Aquatic Foods Q4 update: drowning in a sea of Red Flags

Published 214 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? 

Zinc Media looks expensive based on latest financials

Published 214 days ago

Small AIM outfit Zinc Media (ZIN) released its interim results last week and trumpeted that it is continuing to move in the right direction, but I would question whether the turnaround is happening fast enough to make the shares attractive.

Is it worth giving Chariot another chance?

Published 215 days ago

Chariot Oil and Gas (CHAR) has begun to get my attention again recently as it has plenty going on operationally during the next year or so, and could well become a popular share to be in once again.

Could the Wall Street Crash Happen Again? And If so, Will it Come Soon?

Published 216 days ago

Hello Share Tusslers. The majority of private shareholders at the UK Investor Show at Westminster in a couple of weeks’ time will be sitting on huge gains over the year. They will be in a jollier mood than we’ve seen them in a long time.

Filthy Forty China New Energy – fundraising, contracts, trading update.....BARGEPOLE!

Published 218 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?

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

Published 219 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…

You'll struggle to find a better copper play than Central Asia Metals

Published 226 days ago

Copper has been showing some signs of weakness in the past week or so following an unstoppable rise from around $2/lb during the early part of 2016, and despite the pullback it is still trading much higher, at around $2.62/lb, as I write this piece.

RedstoneConnect – full-year trading update, where next?

Published 227 days ago

Most recently writing on RedstoneConnect (REDS), I concluded that there looked to be continuing encouraging trading momentum and, at 1.425p, the shares were for watchlists. They were little changed on the noted share price level – before a “Trading Statement” announcement this morning…

Filthy Forty Asian Citrus – now interims delayed as Casino eviction draws ever closer

Published 230 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.

Petro Matad continues to defy gravity

Published 234 days ago

There are times when a share continues to defy gravity for far longer than most people would expect, and that certainly looks to be the case with Mongolian oil explorer Petro Matad (MATD).

Starcom looks no closer to actually making a profit

Published 235 days ago

Starcom Systems (STAR) has just released a trading update which shows that progress is still slower than expected in terms of growth and actually making the company profitable.

Holders Technology – FY increased loss, though argues “heartened” by recent signs. Hmmm…

Published 245 days ago

Having previously concluded that shares in Holders Technology (HDT) were on the bargepole list, I note the announcement of results for its year ended 30th November 2016…

SimiGon – profit warning, but reckons all good going forward. Hmmm…

Published 246 days ago

“Trading Statement” announcement from simulation technology company SimiGon (SIM) includes that “the company remains optimistic in its outlook and confident in its existing forecasts for the current financial year” and “great revenue and profit visibility for 2017 and beyond”. So why are the shares currently sliding back below 20p?...

Tracsis – “pleased to provide” half-year trading update, so why are the shares slumping?

Published 247 days ago

Provider of software and services for the traffic data and transportation industry, Tracsis (TRCS) “is pleased to provide” a trading update for its half year ended 31st January 2017. Why then have the shares currently responded more than 13% lower, towards 400p?...

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

Published 249 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...

Well done Fevertree I was wrong - but i struggle even more to see value at this price

Published 250 days ago

Fevertree Drinks (FEVR) is a company that I have admittedly been wrong about in the past – I like the product and way the business has grown, but thought the valuation was crazy!

Igas – the dog that didn’t bark (yet). Something for the weekend, sir?

Published 253 days ago



And so yesterday shares in AIM-listed and overindebted Igas Energy (IGAS) fell off a cliff, dropping 20% with no news released by the company. Normally one would have expected a statement, but thus far all we’ve had from Igas Towers is silence.

Zamano – from ‘focus on maximising cashflow from existing business’ to ‘winding down business lines’ in just over 2 months!

Published 259 days ago

Having stated in September that it “continues to focus on M&A activity and pursue higher value-added business” and then in November that it “has decided to cease all ongoing M&A discussions and focus on maximising cashflow from the existing business”, Zamano (ZMNO) has now updated that “the board believes that it is necessary for the company to take the decision to formally wind down the existing business lines in order to protect the cash position on the balance sheet”!?!

Filthy Forty Jiasen – And now the reason for proposing the AIM delisting

Published 262 days ago

Yesterday we noted the announcement from ShareProphets AIM-China Filthy Forty play - and one of the Fujian Four – Jiasen (JSI) that it was proposing to delist from the Casino. Having listed at 82p per share in 2014, the current 3.125p (mid, last seen) seems a trifle disappointing. Today the company has given its reasons for the proposal. Try not to laugh….

Fitbug's latest update must be a joke surely?

Published 273 days ago

If it wasn’t for the fact that ordinary PIs will have lost a lot of money, the announcements and share price movements in Fitbug Holdings (FITB) over the last couple of days would almost be comical!

Kenmare – disingenuous trading update

Published 277 days ago

Dual-listed in Ireland and on the LSE Kenmare Resources (KMR) has released what reads like a very positive trading update. Two questions spring to mind here: is it generating cash, and what about the debt position? But the company seems to have chosen to ignore completely its refinancing last year in reporting its finances.

Serica remains a buy despite recent strong gains

Published 278 days ago

Usually when shares in a small AIM company has risen by nearly 300% from the level where I recommended it as a buy, I would be advising to take your profits before the almost inevitable retrace that so many suffer from.

Filthy Forty PCGE Entertainment: it is hats off to Saint Richard Poulden as rescue deal revealed

Published 282 days ago

ShareProphets AIM-China Filthy Forty play PCG Entertainment (PCGE) has announced a rescue deal. It is great news for shareholders and a stunning coup for head honcho Richard Poulden, the Chairman, who stepped up to the plate following the shocking emergence of difficulties involving previous top dog Mr Kung Min Lin and a deal to buy Centre Point Development Corp (CPDC). The deal announced today looks to be a full lancing of the boil.

Why it is often difficult to value small resource companies accurately

Published 294 days ago

Valuing small resource companies can be difficult, and often they will appear to be far cheaper than they really are. The bulletin boards, Twitter, etc are full of people extolling the virtues of the companies that they are invested in and pointing out that they should be worth far more than what the share price currently reflects.

ShareProphets share tips of the year Number 16: Sell IGAS says Nigel Somerville

Published 295 days ago

A year ago I made AIM-listed Igas Energy (IGAS) my one suggestion – as a sell - as part of the ShareProphets tipfest for 2016. Without wishing to sound like a broken record, it is still a sell – and the clock is really ticking now especially in the light of this morning’s RNS.

Cloudbuy Trading Statement: no rush to buy

Published 302 days ago

Having announced on 2 December that it had drawn another £1 million from its secured funding package, leaving me wondering how long it would be before the company had to get out the begging bowl, AIM-listed Cloudbuy (CBUY) has at least delivered on its promise of a trading statement before the end of the year, if not yet the lorry-loads of Hartleys long overdue.

Canadian Overseas is a good example of why you should manage risk

Published 304 days ago

It never ceases to amaze me just how much some are prepared to risk on very high risk AIM companies where the odds are against them, and this is a sure-fire way to quickly see all of your money go up in smoke!

CloudTag – trading restored as company gets back to what it does best

Published 308 days ago

Wow! I’d love to have been a fly on the wall over at Cairn Financial as the wording of last night’s no-one-is-watching-o’clock RNS from AIM-listed CloudTag (CTAG) was being, ahem, “discussed.” I wonder how long that lot took to put together….since last Friday? It was a real shocker.

Will Webis ever actually make a profit?

Published 310 days ago

There is a saying that ‘revenue is vanity, profit is sanity’, and I have to wonder if there is a better example of this than tiny AIM listed betting company Webis (WEB)!

New mine coming online should give Orosur a boost

Published 312 days ago

Orosur Mining (OMI) remains one of my favourites amongst the small gold miners listed on AIM, and I now hold shares in the company myself, hopefully awaiting a turnaround in the price of gold.

Picture This - A Stunning Company which Keeps on Developing Profits.

Published 314 days ago

Hello Share Twiddlers. There are some shares in our bag, gang, that we know, just know will keep on bumping up our investment. I have brought to your notice recently the Welsh computer engineer IQE (IQE). That is one of them. Another is Legal and General (LGEN).  And a third is the Honkers Bonkers bank (HSBA).

Milestone – shambles upon shambles, is it insolvent yet?

Published 317 days ago

AIM-listed lifestyle company Milestone Group (MSG) has updated on the placing that didn’t raise the £1.385 million announced on 20 October. Having previously announced that £1.25 million of the proceeds hadn’t arrived, it now turns out that the little bit of meter-money which did arrive has now been paid back and the company is trying to do a replacement placing. Shambles upon shambles.

Filthy 40 Origo borrows $2.5m at min 50% cost to keep the lights on

Published 319 days ago

You may have thought that ShareProphets AIM-China Filthy Forty investment company Origo (OPP) had put its troubles behind in and was heading for calmer waters. Having finally resolved its ongoing troubles over payouts on its preference shares, reaching a deal with Brooks Macdonald, and just a couple of weeks ago given a positive update on the progress of its portfolio and realisations, this morning the company announced that it had borrowed $2.5 million with repayment terms the higher of 50% or 12% a year (non-compounded) to discharging Origo liabilities to professional advisors (excluding those of Origo Advisors Limited) existing as at 19 August 2016.

China fraud Taihua – where is the buy-back? Where is the website? Where is the update on RMB 10 million of Related Party receivables (which the FY15 audit could not confirm)?

Published 320 days ago

I keep on asking, and still there is silence: where is that buy-back that ShareProphets AIM-China Filthy Forty poster-boy Taihua (TAIH) has been promising since announcing an Open Offer to pay for it back in August? And where is the company website? And what about those Related Party receivables which were subject to an audit qualification of opinion?

James Halstead – AGM statement notes FX benefits & ‘confidence in prospects’, so why are the shares down?…

Published 322 days ago

Writing on commercial flooring company James Halstead (JHD) in August I concluded that the circa 426p per share valuation deterred me. The shares have recently risen towards 500p but despite now updating that “the fall in the value of Sterling following the referendum vote of June has contributed to increased margins on our overseas sales, increased competitiveness and positive growth” and noting confidence “in the prospects of the company going forward”, the shares are currently approaching 6% lower today, back towards 450p...

Filthy 40 Aquatic Foods – Q3 trading update

Published 341 days ago

Shares in ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) put on 35% on Friday, following release of a third quarter trading update. Drilling through some of the numbers they seem to be impressive, begging the question of why an apparently profitable and cash-generative company which is drowning in cash worth about three times its market capitalisation would be considering its dividend policy, having chopped the half-year payment by 71%.

ShareProphets Exclusive: Milestone and how City of London Markets failed to pay up

Published 344 days ago

Following on from my earlier piece about yesterday’s disgraceful episode at AIM-listed Milestone Group (MSG) in which the company ‘fessed up that £1.25 million of cash from a placing announced way back on 20 October, the shares for which were admitted to trading on 31 October, had not turned up, ShareProphets has learned the name of the firm at the centre of yesterday’s controversy.

SCANDAL - Milestone Group buries delayed bad news: placing cash not arrived, what about solvency?

Published 344 days ago

Talk about a good day to bury bad news: every media commentator is trying to come to terms with the election of Donald Trump (with the notable exception of our own Tom Winnifrith, who is off to get his new Poll Sheriff’s badge) and so at 3.41pm yesterday AIM-listed Milestone Group (MSG) slipped out a “miscellaneous” RNS. It may have won two big contracts recently but in terms of this RNS, there was nothing miscellaneous about it: this company is in serious trouble.

Fastjet – unusual warrant exercises = spoofery, signs of a cash crunch or just madness?

Published 349 days ago

As AIM-listed crock airline Fastjet (FJET) hurtles at full speed towards its next funding crisis two warrant exercises catch the eye – one yesterday and the other last week. With the shares trading at around 20p, why on earth would anyone exercise warrants at 31.5p a pop?

Never Mind that Election and Brexit. Luxury May Be Better than Defence.

Published 349 days ago

Hello Square Shufflers. We live in shaky times, all right. What will happen if Donald Trump becomes president? The big American traders are holding back on deals until they know more. So, as always when fewer shares change hands, nearly all stocks suffer. This translates into UK shares, which are already unstable because nobody, especially the government, seems to know how Brexit will play out.

Sylvania Platinum remains a buy after positive update

Published 359 days ago

I’ve been a fan of Sylvania Platinum (SLP) for some time now and it is a company in which I hold shares myself, and after the latest update I see no reason to change that stance.

SP Angel’s Zac “the knife” Phillips plunges the blade into Frontera Resources (again…)

Published 361 days ago

Another ramptastic RNS this morning from AIM-listed Frontera Resources (FRR) saw the shares race up to 0.135p at the peak but the shares have been sliding ever since, and are now just 0.095p last seen. Surely there isn’t a placing on the way, is there? Broker S P Angel in the form of the City's No 1 oil analyst Zac “the knife” Phillips was not so impressed. It could be good news, or it could just be a pre-placing ramp. But first there is the small matter of funding…..

Northland Capital Partners – relying on Bank of Beaufort?

Published 365 days ago

Continuing our wanderings through the accounts of those who promote and look after companies listed on the Casino, we turn here to the FY (to Mar 16) accounts of Northland Capital Partners – Nomad to such fine enterprises such as AIM-listed Edenville Energy (EDL) and the now executed Eastbridge Investments (EBIV), Broker to AIM-listed Octagonal (OCT) and introducers of  Vast Resources (VAST) to the fine fellows at Bracknor. A truly magnificent contribution to life on the Casino I’m sure we all agree.

Image Scan Holdings – “Pre Close Trading Update”, jam now being delivered?

Published 368 days ago

Previously writing on X-ray imaging for the security and industrial inspection markets-focused Image Scan Holdings (IGE), I concluded that the order momentum continues to interest, but I wait for further cash flow and balance sheet clarity before possibly taking a more positive position than on the watchlist. The company has now announced a “Pre Close Trading Update” for its year ended 30th September 2016...

Igas – tick tock, tick tock, as bonds slip it’s almost covenant breach o’clock

Published 374 days ago

For all the positive news of late regarding permits for the fracking industry (even if its own application for planning permission from Notts County Council saw the decision deferred to next month), AIM-listed drowning-in-debt Igas (IGAS) still has the pressing problem of staying within its bond covenants. The company stated in its interims to June 2016, released on deadline day of 30 Sept,  that it was expecting to breach its daily liquidity covenant in the second half of October – that could be as early as next Monday.

Edenville is all about the pump to cash in warrants

Published 377 days ago

Edenville Energy (EDL) has long been a favourite of small private investors, but ultimately I have to wonder whether it will actually ever get to a stage where its projects come to fruition.

SRT Marine Systems – trading update; disappointing first half, better to come?

Published 379 days ago

Having soared towards 60p in August, shares in SRT Marine Systems (SRT, formerly Software Radio Technology) are currently around 8% lower today, at circa 40p, on the back of a “Half Year Trading Update” announcement. Hmmm, let’s take a look…

As the FTSE100 sails through 7,000 what to do?

Published 381 days ago

No doubt raging bull Malcolm Stacey will be crowing and snarling bear Tom Winnifrith will be growling as he changes the nappies: the FTSE100 has, again, popped up through the 7,000 mark. We can expect round 4,953 of the ding-dong between those two in the coming days. But what to make of it – are we on the cusp of a cracking selling opportunity or should we be filling our boots? And if we treat the latest gyrations as a chance to offload, what to do with the proceeds?

Igas – dire interims, bondholders take box seat as covenant breach looms

Published 385 days ago

Rarely does one find good news in results which are released at the last minute, and in the case of Igas the recent record of fairly prompt reporting suggested that leaving the interims to deadline day would be a bad omen. This morning’s numbers and, more to the point, update on the bond situation reads badly – for all the positive spin applied. The numbers aren’t good, a bond covenant breach is expected in the second half of next month and then there is the question of how long it may be before the cash simply runs out.

Marcus Stuttard, Sham Sheriff of AIM: here is your specially selected AIM Portfolio. Good luck, pal.

Published 386 days ago

If Marcus Stuttard, the Sham Sheriff of AIM, really believes that the Casino is properly regulated, we think he should put some of his own money where his complacent mouth is by investing in a portfolio of companies which would demonstrate his confidence in his team of Oxymorons at AIM Regulation. We are such nice guys here at ShareProphets that we have helpfully compiled a beautifully diversified portfolio for him. We, ahem, AIM to please.

Filthy Forty Haike Chemical – first out of the traps this week with interims. Red Flags for breakfast?

Published 388 days ago

Well done to ShareProphets AIM-China Filthy Forty play Haike Chemical (HAIK) for being first to stick its head above the parapet this week with the release of its interims to June. One down, nine to go. The PR reads well enough: profitable for the half, lots of cash in the bank. That’s the spin – but what about the Red Flags – such as negative net current assets?

CSF Group – Delisting proposal for shareholders with a gun to the head

Published 389 days ago

AIM-listed CSF Group (CSFG) announced this morning that it is to call an EGM for shareholders to consider a resolution to delist from the world’s most successful growth market. The reasons cited are the lack of institutional demand, liquidity which is effectively meaningless and the failure to secure additional capital by way of equity financing. So much for AIM as a source of growth capital.

Igas – New Year tip update: crunch time this week?

Published 390 days ago

When I penned my one and only suggestion in the 2015 ShareProphets Christmas tipfest, AIM-listed Igas Energy (IGAS) shares sat at 18.5p on a market capitalisation of £55.3 million. They have been all over the place since then – up as high as 21p twice and down as low as 10p. They are currently 12p as the last bubble nonsense deflates gently but has anything really changed? Er, no. The company is still drowning in debt which it can’t repay and the lit fuse is now almost ten months shorter. Igas remains a stonking sell.

Filthy 40 Origo Partners: "Notice of Results" = profit warning

Published 392 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued a notice of results RNS on Wednesday, telling us that its interims to June 2016 will be released on reporting deadline day of Sept 30th. But the statement also had a massaging down of expectations slipped into it. Oh, alright, let’s call it a profit warning – but how bad?

Etaireia – Hooray, it’s the Baron Bloom and Oli Fattal magic show and a crack(l)ing Porkie?

Published 414 days ago

Last night at no-one-is-watching o’clock ISDX-listed Etaireia Investments released its annual numbers to 31 March 2016. The balance sheet held a few horrors, such as net current liabilities of £130,586 which in interesting in the wake of the RNS released on 17 August 2016 which told us that the company had ponied up £50,000 (deferred for a year) in addition to 203,076,923 new shares at 0.065p (although it took two goes for the company to get that bit right) in order to acquire a commercial property.

China Fraud MoneySwap – CEO walks at no-one-is-watching o’clock. Is it bust yet?

Published 414 days ago

Last night at no-one-is-watching o’clock (5.30pm) ShareProphets AIM-China Filthy Forty play Moneyswap (SWAP) announced that its CEO, Ms Sunny Yu had walked the plank with immediate effect. Has the cash run out yet, and will Nomad Allenby follow suit?

Filthy 40 Asian Citrus moves into property. How much cash is left?

Published 414 days ago

My thanks go to Cynical Bear for spotting the latest missive from the ShareProphets AIM-China Filthy Forty purveyor of biblical plagues, Asian Citrus (ACHL). Having seen a pretty complete disaster unfold over the last few years, the company has decided to make a move into the property game in order to broaden the sources of income and to boost the business performance of the group. Call me a cynic: given the history of natural disasters, plague, locusts and invasions by Martians, how long will it be before the buildings in question are found to be suffering from concrete cancer?

Galasys – an Open Letter to AIM Regulation

Published 422 days ago

I have this morning sent a missive to the fine upstanding, inscrutable and completely effective folks at AIM Regulation regarding the ongoing farce that is AIM-listed Galasys (GLS), which is currently suspended as its Nomad (WH Ireland) resigned last week with immediate effect. This morning, as reported HERE, yet another NED walked the plank with immediate effect, for “personal reasons”, following the Company Secretary, the Nomad and Broker and another NED out of the door, leaving the company with no registered office and a fast dwindling boardroom which is at war with itself.

Image Scan Holdings – does latest “Trading Update” justify recent share price gains?

Published 424 days ago

Having risen from 2.375p a month ago to 5.75p, shares in Image Scan Holdings (IGE) are currently further higher, at 6.25p, on the back of a “Year End Deliveries Trading Update” including that “the company anticipates to have recognized the sale of approximately half this £800k order by the end of the financial year and therefore now expects to materially exceed current market expectations”

Why Stocks are Overvalued but we have to Keep Buying Them

Published 426 days ago

I note with interest the today’s macro-outlook comments by Malcolm and Tom, each taking different sides of the debate. While I agree with Tom’s analysis, I reckon that Malcolm’s conclusions might turn out be right!

Thanks to Greed, Our Shares Should Continue to Blossom.

Published 426 days ago

Hello Share Masters. There is so much gloomy comment among the City ‘experts’ these days that I really think it’s reasonable to again put the other side. The Footsie continues to push towards all time highs, so it’s all too obvious that the market is not in step with the pundits. 

Golden Saint – update on Licence Renewals forced out

Published 428 days ago

Perhaps my question as to what was going on regarding AIM-listed Golden Saint (GSR) and its ongoing licence renewal saga landed just in perfect time between Nomad Roland “fatty” Cornish’s breakfast and lunch, as the company issued a statement shortly after my earlier piece today. Jolly good – let’s see what the company has to say for itself….

Cloudbuy Interims: more future Hartleys but will the cash last long enough?

Published 430 days ago

Following on from the release of its FY15 numbers two days ahead of the reporting deadline, AIM-listed e-commerce technology operator Cloudbuy has put out its interims to June in rather more expeditious fashion. Having previously noted the jam-tomorrow qualities to be had, is there any sign of the lorry-load of conserve on the horizon?

IGAS - irrational exhuberance, just fracking nonsense

Published 438 days ago

Shares in overindebted AIM-listed Igas Energy (IGAS) have shot out of the traps this morning on news that Theresa May is in favour of fracking and wants to bribe the locals into letting it happen. There is also a technical matter announced last week that Igas underwent a capital reduction which apparently strengthens the balance sheet......if only. The share price reaction has seen the shares race ahead by as much at 47% (30% last seen) but has anything changed? Er....

Fishing Republic – more confetti to come as 18-month just not an issue

Published 439 days ago

AIM-listed Fishing Republic (FISH) only came to the Casino on 4 June 2015. Apparently newly listed companies are supposed to come to the world’s most successful growth market with 18 months’ working capital in the bag. But on Friday it was announced that Fishing Republic is calling a General Meeting in order to seek shareholder authorities to allow it to issue yet more confetti.

Communisis Shares Should Not Have Shuddered - as these Interims Show.

Published 441 days ago

Hello Share Trundlers. There is a company which is loosely associated with junk mail. But it does a lot more than that, mostly in the paperwork line. The name of the company is Communisis (CMS) which is hard to say and had deserved a bit more thought when the monicker was first chosen.

Banks, Hospitals and Company Share Schemes All Need This Enterprising Outfit.

Published 443 days ago

Hello Share Squashers. Here’s a share I’ve not looked at before. I’m not sure why as it is all about, well, shares. A real share share. Equiniti (EQN) is the name and it provides a share monitor service. It links 18 million shareholders to their babies. It also offers a service to companies which include shares in their remuneration packages to their workers. This is good for employers, as there is a growing mountain of legal work connected to schemes like these and Equiniti helps them to deal with it.

Tom Winnifrith Bearcast - Business models that are fecked - European banks to cash guzzlers on AIM

Published 447 days ago

The last podcast recorded with the audience of my father for a few days sees a few comments on how he yearns for the socialist paradise of Albania in the good old days. Whatever. I look at Nostra Terra (NTOG) and what it must do and another bear point for Avanti Communications (AVN) I had overlooked, at FastForward (FFWD) and why it is such a dog with fleas and at broken business models in both new media and the European Banks. The truth is that the Emperor's New Clothes, in both cases, really are not that impressive.

Filthy 40 China Africa down 36% today: how long until it is bust?

Published 449 days ago

Leading the losers board today currently is ShareProphets AIM-China Filthy Forty play China Africa Resources (CAF) with (last seen) a stonking drop of 36%. There is no news today, but yesterday’s interims, released at lunchtime, might provide the clue: it’s not pretty – the company needs to raise cash.

Blur Trading Statement - Show Me The Lack of Money: Letts Must Go

Published 449 days ago

The hapless Phil Letts, founder and CEO of disaster story Blur (BLUR) must surely know that his time - and that of his grossly overpaid Mrs - is almost up. After another dire trading statement today, There's No Other Way, as Blur used to say:

Frontera Resources – Red Flags for breakfast, anyone? SELL!

Published 450 days ago

DIRECTOR PURCHASES SHARES screams the headline – in capitals - of an RNS from AIM-listed Frontera Resources (FRR) - not to be confused with Frontier Resources - this morning. Ooooh quick, let’s all pile in – follow the money, as they say, because the insiders know what’s really going on. Er, hang on a moment….

Tern – Interims and ramptastic prospect of dividends (what with?)

Published 451 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) released its interims to June 30 2016 this morning. Once again the company has to be commended on the speed with which it gets its numbers out. As expected there is a large paper profit, no cash and the promise of future dividends despite a lack of cash and hefty retained losses. As to the profit…..

Shareholder activism – is a new broom set to sweep out AIM’s overpaid duffers?

Published 453 days ago

One swallow does not a summer make, according to Aristotle. I guess he would baulk at two as well but it does seem that a few swallows are getting the idea. I refer, of course, to the growing number of AIM companies facing shareholder activism. It is a good thing.

President Energy (oink, oink) – Placing ahoy?

Published 455 days ago

I see that AIM-listed President Energy (PPC) has this morning announced the appointment of a new joint broker in the form of BMO Capital Markets Ltd. One’s suspicions are, of course, immediately raised: an energy company (hardly a happy sector at the moment) appointing a new broker? Is it placing ahoy?

Monitise – MONI, MONI, MONI, another “Trading Update” that’s not funny for shareholders

Published 456 days ago

Long-time specialist in draining shareholder money (sorry, “specialist in financial services technology focused on accelerating the digital transformation of banks and financial institutions”), Monitise (MONI) commences the first two bullet points of a trading update with “in line with previous guidance”, though the last includes that it “expects FY 2017 revenue to be lower than FY 2016 as a result of the continuing transition for the business”. Uh oh…

Golden Saint – Licence Renewal….in two weeks

Published 458 days ago

AIM-listed POS Golden Saint Resources (GSR) has announced that it I to renew its three exploration licences in Sierra Leone and that it will be making arrangements to pay the fees over the course of the next two weeks. But the detail of the RNS reveals just how desperate the company was for cash at the back end of 2015, and seems to suggest also that there wasn’t exactly a queue around the block outside the Sierra Leone National Minerals Agency to compete for these obviously highly prospective plots.

Trying to make sense of Transense

Published 458 days ago

Shares in AIM-listed Transense Technologies (TRT) are up heavily on the back of a positive-looking trading statement and news of a licence agreement with NYSE giant General Electric (GE). But is the news all it is cracked up to be?

Rurelec – FY15 report published; finger of blame pointed

Published 461 days ago

Blow me down! Having been suspended for failing to get its accounts out on time AIM-listed Rurelec has finally got its calendar FY15 numbers out. Fair play to the two-man board: with an ongoing cash-crisis as they try to rescue the company from its dire situation the workload must be extreme. With the numbers now out (after-hours, of course!) the shares are expected to resume trading on Monday. As to the report, it is dreadful – and the finger of blame is firmly pointing in the direction of the old guard under Peter Earl. It is a shocking read.

BrainJuicer – half-year trading update notes “generally encouraging” top-line growth, BUT…

Published 462 days ago

Market research agency, BrainJuicer (BJU) has announced “generally encouraging” top-line growth and that half year “operating profit increased by some 41%” BUT…

TrakM8 claims its generating pots of cash. That is not the case - still a sell

Published 473 days ago

No doubt Paul Scott is wetting himself as TrakM8 (TRAK) boasts of how pre-tax profits of £3 million leads to cash of £4.45 million being generated in calendar 2015. There is so much cash generated that his Dorset bunnies are paying a 2p per share dividend, even though the company has now moved into net debt. The squeals of Scotty delight in Brighton are almost audible here in Bristol. Except that it is all smoke and mirrors. TrakM8's business remains a piss poor non generator of cash.

China FRAUD Taihua - another stinker of a set of results from the Filthy 40

Published 475 days ago

ShareProphets AIM-China Filthy Forty play Taihua (TAIH) released its FY15 numbers on Thursday – deadline day to avoid suspension under AIM Rules. But they were released after-hours at 4.52pm: talk about last-minute. The numbers are a horror, but then so is the Auditor’s Qualified opinion, and the material uncertainty warning in the Going Concern Statement.

NorthWest Investment Group – FY15 numbers from the Filthy 40 Investment company which doesn’t invest

Published 477 days ago

I kid you not: this company has been on the Casino since joining in June 2010 as an investment company with assets of about £3 million and has never invested a cent. Yesterday, ShareProphets AIM-China Filthy Forty company Northwest Investment Group (NWIG) released results for calendar FY15: it still hasn’t invested a cent. But the money is disappearing.

Igas – company update = shareholders set to take a bath. But just how bad is it?

Published 493 days ago

This morning AIM-listed and overindebted Igas Energy (IGAS) released a company update RNS. There was some positive waffle about good progress on its five year shale developments plans, pointing investors to the recent planning permission given to Third Energy for fracking to be employed at a site in Yorkshire. But it is the parlous state of Igas’ finances that this RNS addresses. It looks grim.

Getech – another profit warning, how’s the “strong financial position” looking now?

Published 497 days ago

Having emphasised caution on shares in provider of data, studies and services to the oil, gas and mining exploration sectors, Getech (GTC) at 37.5p HERE, the following updates with them currently a further couple of percent lower, at 26p, on the back of a “Trading Update” with regard to the company’s year to end July 2016…

F40 MoneySwap and PCG Entertainment – a look back in history at the former chairman and his brother. It’s a game of two halves….

Published 497 days ago

Picking up on Cynical Bear’s footballing analogy and having previously wondered whether there might be a skeleton in the cupboard of ShareProphets AIM-China Filthy Forty MoneySwap (SWAP) in the light of last week’s ‘fessing up by fellow Filthy Forty PCG Entertainment (PCGE), further digging reveals a festival of Red Flags. Look no further than the previous stamping ground of MoneySwap and PCG Entertainment (PCGE) former chairman, Mr Kung Min Lin, at Power Capital Global Limited (PCGB), which started life as Sportswinbet (SWB) in 2005. Here are the first half highlights.

Sanderson Group – 2016 interim results & management chat

Published 499 days ago

Provider of digital technology and enterprise software for businesses operating in the retail, manufacturing, wholesale distribution and logistics sectors, Sanderson (SND) has announced results for the six months ended 31st March 2016 and “a good level of confidence that the group will continue to make further progress and deliver trading results in line with market expectations”. The following updates post a chat with management…

EU Supply – AGM trading update, can a discounted fundraising be avoided?

Published 500 days ago

Having cautioned on shares in e-procurement software provider, EU Supply (EUSP) at 4.5p in January, I now update on the back of an “AGM Statement” announcement which sees them currently at 4.125p…

Aukett Swanke – half-year results, blaming Brexit uncertainty. Hmmm…

Published 500 days ago

International practice of architects, interior designers and engineers, Aukett Swanke (AUK) has announced results for the six months ended 31st March 2016 and is “pleased to report another period of profitability”. The shares are currently down 18%, at 5.125p, in response though. Hmmm…

Amino Technologies – after profit warning last year, now a brighter trading picture?

Published 501 days ago

Amino Technologies (AMO) has announced “a strong first half performance with record order intake and a very encouraging backlog to take into the second half of the year following sales growth in key regions”. Sounds interesting…

Pssst! Ssshhhh!! Don’t mention the Fastjet EGM

Published 503 days ago

ShareProphets likes to bring you the news that companies don’t want you to see. In that vein we bring you yesterday’s RNS from the AIM-listed mile-high croc of **** with no CEO and which is running out of cash otherwise known as Fastjet (FJET) which was entitled Notice of AGM. To make things look really kosher it came out at 3.36pm on a Friday: no-one-is-watching o’clock. Whilst some in the square mile may already have been off lining up the Friday night coke and hookers, we were still watching. Blow me down with a feather, it wasn’t just a notice of AGM.

DCD Media – follows no-one watching o'clock "business update", with no-one watching o'clock results

Published 504 days ago

Following a true 'no-one watching o'clock’ “Business Update” from DCD Media (DCD), it has followed suit with the results announcement – with a 4:10pm release. I wonder why...

Igas – Trading update: the market cap is insane!

Published 513 days ago

This morning AIM-listed and over-indebted Igas Energy (IGAS) released a trading update ahead of its AGM to be held this morning. The elephant in the room is, of course, its outstanding debt in the form of bonds - £103 million worth as at the last accounts – which mature in March 2018, less than two years away.

Proxama – on the buses, but is it placing ahoy?

Published 533 days ago

AIM-listed Proxama (PROX) yesterday released an RNS Reach which described the launch of advertising campaigns on London buses. It all sounds terribly high-tech and exciting: it involves 500 buses using the company’s beacon technology and there is plenty of stuff about high click-through rates, a potential market of 2.3 billion passenger journeys a year to go for and how consumer targeting will mean adverts of quality and relevance. But…..

China Norfolk Asian Citrus profits warning – how long until the corporate undertakers are called?

Published 569 days ago

ShareProphets AIM-China Filthy Forty purveyor of Biblical plagues, Asian Citrus Holdings (ACHL) has updated the market on its latest calamity. Apparently it grows oranges too, but its main product these days does seem to be natural disasters that prompt ( lack of) profits warnings.

ADVFN - 3 questions

Published 573 days ago

ADVFN (AFN) owns 20% of this website but that cannot mean that both as a public company but also a website many of us use daily, we can avoid asking a couple of questions after it snuck out interims at 5.45 PM the day before the bank holiday weekend - no'one is watching O'Clock. Moreover I am being berated by many folks for not flagging this up. I will now get bashed for flagging it up. I cant win so make no comment but just ask three questions.

A Chemical Company Which Could Fizz in the Test Tube of your Portfolio.

Published 576 days ago

You may or may not have heard of a great UK company called Synthoma (SYNT). It’s one I’ve usually missed in the  limited number of news sources I keep up with, anyway.

 

SeaEnergy ‘fesses up to self-inflicted dire financial position. Blow me down with a feather….

Published 594 days ago

I’ve been classing AIM-listed SeaEnergy (SEA) as an outright sell since last September (see HERE) at 5.5p bid, but was bearish as long ago as last June at over 12p (see HERE). This has been an accident waiting to happen for months and this morning came the grim news.

F40 Asian Growth Properties – proposed disposal triggers big re-rating but Red Flags are too big to ignore

Published 595 days ago

Some good news from the ShareProphets AIM-China Filthy Forty in the form of a proposed disposal by Asian Growth Properties (AGP) was detailed on Tuesday. At its last set of numbers interims to June 2015 the company stated NAV per share at 125p and until recently the shares had been trading at a fraction of that (sub-20p). The news saw the shares race away to close at 46.5p mid, although they gave some back on Thursday. 

China fraud Aquatic Foods Trading Update: drip, drip, drip - the water torture continues in a sea of Red Flags

Published 597 days ago

ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) released a trading statement yesterday for its full year to Dec 2015. I commented that the last trading statement had more holes than a fish-net and yesterday’s serving of fishiness lowers none of the Red Flags previously raised. 

China Fraud Aquatic Foods - drip, drip, drip the torture continues

Published 612 days ago

Following on from yesterday's piece on ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG) we see that the shares are still sliding. Drip, drip, drip - the Chinese water torture continues. 

RockRose Energy – more on the Employee Benefit Trust, implications for NAV – and another error

Published 627 days ago

We still don’t have an answer to the question posed regarding a share issue of 700,000 shares at 50p a pop in November 2015 (ignored in the Admission Document). Nor do we have an answer to the question over how share with a nominal value of 0.5p were consolidated 4:1 into share of 20p. I would argue that the Companies House filings of LSE Main Market (Standard) Listed RockRose Energy (RRE) has serious questions to answer. Who benefits from the Employee Benefit Trust is (at least for now) in no longer a question – but there another error.

China FRAUD Jiasen – GOTCHA! The LIE in its Interims

Published 633 days ago

We shall, for a moment, suspend our disbelief over the stated cash position of ShareProphets AIM-China Filthy Forty member Jiasen (JSI). Let us, for a moment, simply take the company at its word. Deeper analysis of yesterdays trading statement numbers shows a horror story unfolding, and casts a strange light on previous statements from the company. I suggest that what follows shows that Jiasen is toast, and uninvestable.

China fraud Jiasen – profit warning, where has all the cash gone?

Published 634 days ago

An RNS is meant to inform. Of course, if you are delivering bad news you might not be so keen to inform the market quite as fully as you could and that brings us to a profit warning from ShareProphets AIM-China Filthy Forty member Jiasen (JSI). Tom Winnifrith commented after its Interims to June 2015 that it was either a fraud or he was a banana. And so today Jiasen produced a very uninformative trading statement which looks for all the world to be designed to mislead.

Red Flags at Night: Tethys Petroleum looks doomed

Published 636 days ago

Oh dear, yet another oiler having trouble with its cash. Dual listed on the TSX and the Main Market of the LSE Tethys Petroleum (TPL) lobbed out a bit of a bombshell at no-one-is-watching o’clock last night (at 12 minutes past 6pm on a Friday). Nice one, chaps.

How screwed is Mosman Oil & Gas? Very.

Published 645 days ago

Mosman Oil & Gas (MSMN) has walked away from its duff STEP deal having raised A$6.47 million before ( no doubt grotesque) costs to do the deal. Without that cash it would have gone bust as cash as at 8 December 2015 was just $5.4 million. But where does it go now? Down the plughole is the best guess.

Inspirit - is director buying just spoofing the market?

Published 651 days ago

And so, in the face of all the questions being asked about AIM-listed Inspirit Energy Holdings plc (INSP), rather than answer them we had news yesterday that the Chairman and CEO, Mr John Gunn, had dipped into the market and bought 5 million shares. But what of the elephant in the room?

Inspirit Energy - a festival of Red Flags on New Year's Eve: Sell

Published 655 days ago

The ex-Lenigas stock that is AIM-listed Inspirit Energy (INSP) issued its full year results to 20 June 2015 on the day of its reporting deadline of New Year's Eve. Just the timing of the RNS during no-one-is-watching o'clock week is a Red Flag in itself. But quite how it has taken six months to collate its numbers when there are no sales is a mystery to me - that is another Red Flag, but there are plenty more. For a start, there is a change of auditor but a glaring error and a few other matters leave me reaching for the bargepole even before looking at the balance sheet.

SeaEnergy: profit warning, loans, new Nomad. Was that plain or cheese'n'onion?

Published 694 days ago

I suppose that a profit warning should actually involve profits but unfortunately for SeaEnergy's (SEA) beleaguered shareholders that seems to be a long way off. With the low oil price it goes without saying that companies with exposure to black gold in some form or other are going to be suffering in the current climate. But SeaEnergy – as discussed HERE - could and should have been almost bullet-proof. Having had cash and readily realisable assets worth millions, the company has spent the cash and stood by while the value of the holding in Lansdowne Oil and Gas (LOGP) has dwindled away. It now finds itself reliant on the bank and having to go round with a begging bowl in order to keep the lights on.

SeaEnergy "wins prestigious award". How's the (lack of) cash position fellas?

Published 714 days ago

AIM-listed and skint SeaEnergy (SEA) has released a toe-curling RNS this morning to announce the win of some industry award. The thing is that SeaEnergy is out of cash and reliant on a bank overdraft - it urgently needs to get a placing away. The announcement goes as follows (ShareProphets RNS Translation Service in plain script):

UPDATED: Pointless PR puffery RNS of the day – NetDimensions: when’s the Placing?

Published 732 days ago

I had to laugh out loud when I read this morning’s RNS Reach from AIM-listed NetDimensions (NETD). It is normally a pretty bad sign when a company announces that it has won some sort of spurious award, but this really takes the biscuit. You see, it is not even NetDimensions that has won it: it is one of its clients!  The update is the figures from the balance sheet - far, far worse than my first reading.

JQW – Interims invite belief in the tooth fairy

Published 758 days ago

As George Osborne tweets lyrical about being the first UK minister ever to visit the key staging post at the end of China’s Silk Road, Urumqi, JQW has truly tried to make a silk purse from a sow’s ear. If you believe in the tooth fairy then you should buy the shares with all your might. Indeed, you should go down to the world’s local bank (HSBC) and get a mega-loan and buy the entire company for it is trading on a market capitalisation of £11.1 million (source: ADVFN) and yet has a cash pile of £46 million. Heck: shut down the business (except the Chinese authorities have already done that, for a month) and walk away with £35 million profit?

We Should Always Keep 20% in Cold Cash - Except Perhaps Now.

Published 776 days ago

Hello Share Trundlers. The great Warren Buffet said that it doesn’t matter if shares fall. As long as we don’t need money straight away.

SELL!: WANdisco plc – what’s the exact nature of its HSBC credit facility?

Published 801 days ago

Steve Moore previously commented on AIM-listed WANdisco plc (WAND) HERE (‘after the 2015 Q2 sales update, it’s forecast reduction time yet again!’), including noting forecasts of net cash reducing to $6.2 million at the year-end and an $8.5 million net debt position at the end of next year, with there currently a $10 million revolving credit facility in place with HSBC to March 2017. If this balance sheet position was not too close for comfort already, we now have reason to question the exact nature of the HSBC facility…

Gem could be a diamond in the making

Published 827 days ago

Diamond miners haven’t generally been performing that well in recent times, and that includes Gem Diamonds (GEMD). But I think the recent drop in share price could actually be a great opportunity to invest in a ‘Gem’ at a great level.

Two Golden Rules for Hard Times - and a Bonus Tip for Luck.

Published 830 days ago

Hello Share Sweepers. As we’re all still feeling pretty nervous about our shares, I would not advocate doing much trading at the moment. The Chinese stock market and the Greek tragedy are both taking their toll on our confidence. So it seems to me we now have a good opportunity to drive home two glittering lessons which are especially useful in difficult times like these.

Gulf Keystone: was that a profits warning?

Published 834 days ago

This morning’s announcement from Gulf Keystone (GKP) had the decided whiff of a profits’ warning about it. It is extremely frustrating when companies dress bad news up. I appreciate the importance shoring up sentiment has, but if a company has to warn shareholders that it is going to miss its financial targets it surely must be an inviolable principle of transparent markets that it explicitly says so. Today’s example from Gulf could prove to be a perfect case in point and doesn’t bode well for new CEO Jón Ferrier’s attitude towards investor relations.

Globo tries to reassure, but concerns and red flags continue to abound

Published 836 days ago

In response to a rapidly falling share price, sorry “to the Situation in Greece”, Globo plc (GBO) has released an update…

Globo plc – a further red flag ahoy?

Published 854 days ago

Having earlier this month announced that in the first quarter of 2015 its “net cash position increased to €41.2 million (31 December 2014: €40.4 million)”, Globo plc (GBO) has now announced that “it will be conducting a series of investor meetings in the US and UK commencing on 19 June 2015 in relation to a potential issue of senior secured high yield notes”. Hmmm…

Red Flags at Night…..Regal Petroleum after-hours results RNS

Published 877 days ago

I have some sympathy for the board of Regal Petroleum (RPT) given that its area of operation is in the Ukraine. I sense that they are doing their best to manage the company in the most difficult of situations, but for investors the RNSs released yesterday are very worrying. Cash is trapped in a rapidly depreciating currency and the risks here are massive.

Globo plc – 2014 results, cash flow & balance sheet concerns intensify

Published 903 days ago

Shares in “international provider of enterprise mobility management, mobile solutions and software as a service”, Globo plc (GBO) gained 9% yesterday to 52.5p on the back of a results announcement emphasising that for 2014 “we have produced a strong financial performance”. The following suggests otherwise…

blur Group – reasons to remain bearish as Edison updates

Published 1005 days ago

Shares in provider of an online platform for the provision of services, blur Group (BLUR) have now declined to sub 50p - having been circa 730p a year ago. The following reviews post a trading update last week and now an update from Edison Investment Research.

A very happy New Year for TXO shareholders – not!

Published 1013 days ago

First they get the news that Smart Win has appealed against the rejection of its summary judgement motion; totally immaterial of course, regardless of what happens, because as explained here  “the chances are better of winning the jackpot in the national lottery just buying 1 line for 1 week than they are of TXO (TXO) actually seeing any money.. [because]… Smart Win is a shell set up by two major Chinese companies and has no assets”

Quindell Profits/Accounting/cash warning - dependent on bank support - bearcast rampage from Tom Winnifrith

Published 1047 days ago

All my work since I first used the word Red Flag in April 2013 has been vindicated. My scoops of this weekend on Quindell (QPP) have been shown as true - today's statement is a total disaster for Quenron. Bulletin board morons who abused and threatened me get your sorry arses round to Real Man Pizza today to buy a large pizza and expensive bottle of wine and give my fantastic staff a large tip to say SORRY. The following points stand out:

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

Published 1049 days ago

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

Tom Winnifrith BearCast Special - Quindell just how grim is the cash position?

Published 1071 days ago

Right now we are focussing on Rob Terry's lies about share trades and about how he and Fidelity are racing to offload their worthless stock in Quenron (QPP). But there is another pressing issue which is just how grim is the cash position. I put it to you that while Mr Terry's personal bank account might be bulging, back at Quenron the position is dire and that is why Mr 2+2 can = 5 is so keen to offload his stock at almost any price. I explain why the game is almost up.

blinkx plc - interims: the key numbers

Published 1074 days ago

I previously updated on internet media company blinkx plc (BLNX) a month ago concluding, at 31.75p, that the shares looked a speculation on the company’s ability to deliver a sustainable cash generative recovery, rather than a solid, value investment - see HERE. Currently at 29p, today released interim numbers support that view (as summarised below, red highlighting key negative factors, green key positive contributors), with further analysis to follow. There a lot of red ink here as befits a company that tried to bully the Sheriff of AIM with lawyers letters. That tells you everything.

Change of broker on the AIM Casino means Placing Ahoy – ref Tertiary Minerals and others

Published 1110 days ago

I do not wish to make this about Tertiary Minerals (TYM) on its own as that will prompt Malcolm Stacey and Comrade Wildrides to issue a fatwa against me. But it rather illustrates a point about just how the AIM Casino works. 

Globo plc - interims cash flow analysis, improvement still necessary?

Published 1116 days ago

In an update on the 2013 annual results from Greece-originated mobile and telecom software and services business Globo plc (GBO) I noted that “the majority of the reported profit was tied up in working capital and investment. The issue here is that the table highlights that this is a consistent occurrence”. Has this changed in the today-announced results for the first half of 2014? Err…

Cupid – Dismal Interims

Published 1116 days ago

Interim results from Cupid (CUP) were predictably disastrous and show why it had to see its dodgy Ukrainian dating businesses. In part that was because, despite the KPMG whitewash they were clearly engaged in unethical practises. But Cupid also needed the cash.

ShareProphets Share Tip of the week: Leyshon Energy

Published 1117 days ago

Yes we know this company operates in China but it is not a Chinese company but it is valued as if it is one. At 3.25p to buy Leyshon Energy (LEN) is the ShareProphets share tip of the week.

Toumaz – Crazy Valuation & the REAL Metrics are dire

Published 1120 days ago

Toumaz (TMZ) has all the markings of the sort of stock that should be in the Bulletin Board Moron nightmare portfolio as explained HERE earlier and, indeed, it seems to have a diehard band of BB Moron enthusiasts. Results today are dismal and the cash is running out. Yet at just under 6p the valuation is £95 million. Crackers.

Monitise – full-year results: losses up, shares again down

Published 1128 days ago

Mobile money technology platforms and services company Monitise (MONI) has announced results for its year ended 30th June 2014 and a “confident outlook”. Is this though still discounted in a share price which has fallen from 80p earlier this year to a current 43.5p?

Quindell & its dire REAL cash position at June 30th – back to the RAC Joint Venture

Published 1151 days ago

Yesterday I asked if Quindell had actually paid the £15 million in cash into Connected Car Solutions its jv company with the RAC of which it owns 51%. Despite announcing the deal on April 7th there is no evidence at all in the interims that such a payment has been made – as you can read HERE. But this now poses three scenarios for the REAL cash position of Quindell at June 3th.

I'm bearish, 50% in cash but I like TSB Banking Group

Published 1158 days ago

I’ve been chopping back my portfolio. I’m really bearish of the market right now. Even when I see a stock I want to buy, I’m holding off. I’m about 50% in cash. That is extremely rare for me to be that “out of the market.” So what am I holding?

I Agree with Warren Buffett – Falling Shares Mean Nothing.

Published 1166 days ago

Hello Share Fans: As so many excellent writers on here disagree with me that shares will soon rise, I feel duty bound to re-state the case for optimism. Don't believe half of what you read in the Press about shares. If you do you'll make enough wrong decisions to stop you making any real money at the golden game.

Globo and Go!Enterprise Sales – why the Bulletin Board Morons are wrong again – and new target price set: 10p

Published 1174 days ago

I flagged up HERE some days ago the fact that revenues from Globo’s (GBO) flagship Go!Enterprise product seemed not to be growing anymore. The Bulletin Board Morons responded with a claim that Matt simply did not understand that sales were second half weighted. No doubt this is company spin. It is also bollocks.

Globo plc – readers' questions answered my reservations not

Published 1175 days ago

My review of the trading update earlier this week from Globo plc (GBO) elicited a couple of reader comments – particularly asking “what cash situation do you want from a company in the growth stage”? and “would you please comment on globo 2013 final accounts ageing of trade receivables”. Showing it to be incorrect that “whenever a question is asked it is ignored by the shareprophet writers”, the following reviews.

Outsourcery Statement – Piers Linney this does not wash Mr Dragon’s Den

Published 1176 days ago

Having promised an update on refinancing the POS AIM listed company Outsourcery in July, Dragon’s Den Prima Donna Piers Linney served up a pretty wet statement at the last minute this morning. The RNS is both wet and disingenuous. And here’s why.The statement reads:

Quindell & Industrial Deafness – how the “industry” works and why that means Quindell’s numbers do not add up

Published 1184 days ago

In 2014 Quindell (QPP) will book revenue of £228 million (28% of group sales) from Industrial Deafness claims where it will generate not a cent of cash. Those revenues are based on the estimates provided by Mr 2+2 Can =5 Rob Terry and his fellow directors and will ensure Quindell hits EPS forecasts. But anyone looking at this industry must recognise that Terry is bullshitting. Here’s why. Meet The Hearing Clinic.

Sorry to be a pedant but Quindell & Cash Collection and Canaccord (again)

Published 1187 days ago

I am sorry to be a pedant but why is it that the joint broker to Quindell (QPP) Canaccord appears to think that ithe company's projections for cash collection in the critical QLS division are wildly optimistic?

Avanti – The Profits warning does not stack up

Published 1188 days ago

Naturally I am delighted to see bombastic uber-Welsh Avanti Communications (AVN) boss David Williams have to eat humble pie and serve up a profits warning on Friday. But what the statement says and what it does not say is just terribly confusing. I start on June 13th when Avanti stated:

Globo – Uh, Oh….

Published 1191 days ago

It is no secret that I am not a fan of Globo (GBO) – perhaps I shall have to treck up from the Mani to Athens for another visit. I sense things are getting exciting. For the bears.

Quindell the Trading Statement - SMTM

Published 1193 days ago

Suddenly bulletin board morons tweet me in a way that suggests they need to up the medication urgently. Quindell (QPP) shares have leapt by 33% or more to 244p on the back of a trading statement. Those folks who lambasted me for being bearish at 250p and above reckon I have lost all credibility, blah, blah, blah. Whatever… The statement reads well. Superficially – that is to say if you just look at Quindell defined EBITDA, sales (including huge accruals) and EPS numbers. But I have a number of issues and remain a seller with a 20p target and here is why…

Avanti Communications – The “Trading Update” and Expectations – Sell

Published 1197 days ago

Avanti Communications (AVN) is now officially my Victor Meldrew stock: “I just do not believe it!” Last week it served up a “contract win” announcement that was utterly incredible. Now for this, drowning in debt, needs to raise equity Company we turn to the mystery of the full year trading statement.

Globo Trading Statement – Meaningless Gibberish

Published 1216 days ago

Globo (GBO) this week issued a trading statement which is the usual gibberish from a company driven by issuing non news to support a share price which I fundamental terms is unjustifiable.

Quindell: Cash, the UKLA and Looking ahead to a Shoot-out at the Not so OK AGM

Published 1224 days ago

The AGM of Quindell PLC (QPP) will be at 10 AM on Thursday 19th June and as a loyal shareholder (as of Monday) I shall be attending and am planning my questions as of now. A few months ago this would have been a love-in with his fan club taking turns to praise CEO Rob Terry, I wonder if the mood may have changed. I still expect to get lynched by Bulletin Board morons as I ask my questions. On what you ask?

Rob Terry of Quindell and his £720,000 cash bonus – a shocker or not?

Published 1243 days ago

I see that the Sunday Times has had a go at Quindell (QPP) CEO Rob Terry for picking up a £720,000 cash bonus last year given that the share price has halved in recent weeks. The Newspaper is right but for the wrong reasons.

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