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Tom Winnifrith Bearcast - Being a Purplebricks bull must be enough, I'd imagine, to turn a man to drink
Published 22 days ago
Alpha Growth (ALGW) is running on ‘vapours.’ It hasn’t got a pot to piss in. Cash on hand is probably close to £170,000. Its auditor has issued a ‘Material Uncertainty’ as to viability going forward as a going concern. The Company has ‘fessed up that it has no revenue and will need funds. What is not to like?
Published 34 days ago
I highlighted the latest in a series of death spirals entered into by AIM-listed Vast Resources (VAST) on 22 December (see HERE). That was after the company had said it wouldn’t do any more, but then announced its issue at no-one-is-watching o’clock on 21 December 2018. The thing is, it told us that tranches of the death spiral loan would not be convertible into shares of the Company (the “Shares”) for the initial 30 days from the date of their respective advance. And so today, 18 January - and thus four weeks and not thirty days later…..
Published 58 days ago
Well Humbug and Bah Humbug to you all! You all want to know who won the Bury Bad News sweepstake. Needless to say, it wasn’t me! The entries ranged from 7 to 50 bad news RNSs on Christmas Eve, but who won – and what was the worst of RNSs?
Published 61 days ago
We are days away from the end of 2018 and so it is time for almost the final reckoning for my portfolio of 5 shares to sell this year. I say almost the final reckoning because Tom Winnifrith’s Winnileaks has been receiving a few things which suggest that AIM-listed Frontera Resources (FRR) may well be facing its final reckoning extremely soon – ouzo at the ready, then!
Published 62 days ago
Oh dear! Previous boss of AIM-listed Vast Resource (VAST) Roy Pitchford had an unhappy time with death spiral finance facilities with Crede and Bracknor and now, despite the company having said it would avoid death spiral finance facilities in future, has announced – under Brian Moritz – a “bridge facility” which is….a death spiral, this time with Bergen. It is interest free, naturally – if you ignore the fees – but critically, this time the facility is not convertible for 30 days. After that…..well, we know what death spirals do to share prices.
Published 117 days ago
And so another month has slipped by and it is time for another update on my five to sell – or just steer a very wide berth around. Last month the average loss amongst AIM-listed Telit (TCM), Inspirit (INSP), Catanae (CTEA, formerly Milestone Group, MSG), Frontera Resources (FRR) and UK Oil and Gas (UKOG) was sitting at 17.4%. But we’ve had a bit of a sell-off……
Published 118 days ago
AIM-listed Imaginatik (IMTK) has beaten the odds and signed up a new Nomad to replace FinnCap which slipped out of the back door a month ago. Good news – and on deadline day too. And so WH Ireland steps up to the plate. We also learnt that the company got a placing away – at just 1.1p, plans an Open Offer and has signed up for a death spiral toboot. Great stuff – but I won’t be interested for now and here is why.
Published 125 days ago
We shall fight on the beaches, we shall fight on the landing grounds, we shall fight in the fields and in the streets, we shall fight them in the law courts. So said Zaza Churchill of Frontera Resources (FRR) last month after his company defaulted on an agreement with death spiral provider Yorkville, failed to hand over shares, lied via RNS and ended up with a legal dispute. Oh well, it turns out that Zaza is not Churchill but Chamberlain after all. And it is not just one little piece of paper that is on the way but billions more pieces of confetti, worthless share certificates.
Published 125 days ago
Tom Winnifrith writes: This has been a bad tip. We apologise. We owned the shares too and share that pain. But with the stock now at 0.1p-0.12p the shares are a STRONG BUY, average down. Let me explain.
Published 139 days ago
I can’t help but notice that shares in AIM-listed Haydale have been on the slide once more. Today they are off by another 13.2% - I wonder if the company wants to issue a statement as to the reason why? Na….thought not. Well, just to help out Haydale (‘cos we are such nice guys)…..
Published 147 days ago
Let's be clear here. Widecells (WDC) was a client of Align Research run by Richard Jennings. That is to say it paid Align to publish research. It is thus all the more remarkable that Jennings is prepared to stock the knife in, attack recent actions by the company and is now buying shares in the market to call an EGM to fire the board. Get your beer and popcorn ready, for what it is worth I agree with Jennings on this matter and urge all shareholders to contact him to offer their support. He writes:
Published 157 days ago
In the end the chaps at Nomad Cairn walked from Cloudtag (CTAG) when it was clear that it was a fraud run by liars. Frontera Resources (FRR) is a shit show run by liars and a fallout with death spiral provider Yorkville (YA) today could be the final straw for Cairn – might it resign leaving the (worthless) shares suspended? Or will Frontera just go bust?
Published 174 days ago
Two days ago we asked you HERE to guess the price of the bailout placing which Frontera Resources (FRR) needs ASAP to avoid going tits up. And, with the stock still 0.22p to sell, you said…
Published 176 days ago
Grossly overvalued AIM listed piece of crap Frontera Resources (FRR) is running on vapours. It has less cash than your average Venezuelan and is burning it at an alarming rate. Despite the best efforts of disgraced PR man Tim Thompson of scumbags Yellow Jersey PR and the whore blogger, Malcom “Fat Bastard” Graham Wood to ramp the stock, it has more than halved since May 1 and is now just 0.22p to sell. So what price is the looming bailout placing going to be at. You guess in our reader poll, the deadline to enter is midnight tonight:
Published 203 days ago
This is undoubtedly good news for AIM-listed Advanced Oncotherapy (AVO) and the meagre 4% discount in quite a bonus. But I find it hard to get too excited.
Published 203 days ago
The leopard does not change its spots. Pumping UK Oil & Gas (UKOG) hard as it was trying to arrange a bailout placing is bad enough. But now we come to Angus Energy (ANGS) another Horse Hill play and one where the CEO has just "been resigned" in disgrace following revelations HERE. But Big Dave has, as you can see below, been pumping its shares hard on twitter. What happens after a Big Dave pump?
Published 211 days ago
Time to get out the ouzo, for AIM-listed jam-tomorrow investment company Tern plc (TERN) has raided the bucket shops once again – this time raising £2.9 million (before expenses) at 26p, a discount of 21%. In a separate announcement, we are also told that investee company InVMA has been shopping – but no financials are offered and I fancy that is because the purchase is quite insignificant - it was, after all, an RNS Reach.
Published 223 days ago
At 4pm yesterday, AIM-listed Mysquar (MYSQ) slipped out and RNS announcing that it was calling a General Meeting. It seems that the board is running short of shareholder authority to wheel out the printing presses to issue more worthless confetti. The ShareProphets RNS translation Service explains all (original in bold)
Published 231 days ago
AIM-listed Eqtec (EQT) has announced a funding package this morning. The good news is that short-seller Bercheva - run by a convicted crook - has been given the heave-ho from the death spiral facility, but the replacing loan deal seems to offer great terms to the lender and the accompanying placing is at a 35% discount. So what’s the upside for shareholders?
Published 252 days ago
We forced a statement last Friday and, today, UK Oil & Gas (UKOG) says it has completed an “oversubscribed” placing at 0.9p. FFS these bastards have a nerve. How they abuse and insult the owners of this company, its shareholders.
Published 256 days ago
On Friday we forced UK Oil & Gas (UKOG) to fess up that it was trying to raise £5 million. It is struggling to fill that back and the shares – now just 1p-1.05p – at least partially discounts the pain that is coming. But ShareProphets readers, when polled HERE, think far worse is coming. I agree.
Published 260 days ago
The whore blogger, Fat Bastard Malcolm Graham Wood, may try to spin today's disastrous financing news from Frontera Resources (FRR) as a triumph but as I explained earlier it is far from it. Zac "the knife" Phillips of SP Angel, the City's No 1 oil analyst, goes further with a statement that the entire board needs to be sacked. He opines:
Published 260 days ago
I wonder how the whore blogger, Fat Bastard himself, Mr Malcolm Graham Wood will explain this away as good news. After all that is what Frontera (FRR) pay him for. In essence Frontera has no cash, is burning cash and had to repay $2.891 million to death spiral provider Yorkville on 16 June. Problemo!
Published 264 days ago
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has an interesting date in its diary at the end of this month, for on 30 June its recent loans to investee company Device Authority must be converted into DA stock or repaid (at 300% of principal!) Given the scale of the cash-crisis across the portfolio at FY17 (see HERE) it seems unlikely to be repaid, so what happens if/when the loan is converted, and why is it a problem for Tern?
Published 267 days ago
AIM-listed Advanced Oncotherapy (AVO) announced this morning that Bracknor, the death spiral funder, still had convertible loan notes to swap for shares. This, despite the RNS of 19 July 2017 telling us that the Company does not intend to use the Bracknor facility in the future. As part of these arrangements the Company will issue 7 million warrants to Bracknor. These warrants are exercisable at 25p and may be exercised at any time over the next five years. Anyone would have thought that was the end of the matter. Apparently not.
Published 271 days ago
On March 8 2018 I revealed how low life Nomad Northland had banked a fat fee for recommending that its client Eqtec ( EQT) take out death spiral financing from a proven fraudster. Worse still, the deal Northland thought fair was bound to destroy the share price as I explained at the time. Last week it got worse and the negligence of Northland is now almost criminal.
Published 288 days ago
This is covered in bearcast but I can't disagree with a word that the great bear raider and professional Northern git Waseem Shakoor says about Frontera (FRR) ina BB post today. For a wider audience, Waseem opines:
Published 293 days ago
I offered a portfolio of shares to sell for 2018 during the ShareProphets Christmas Tipfest – let’s see how it is doing (albeit a few days late). Into the original portfolio went Frontera (FRR), Milestone Group (MSG), Tern (TERN), UK Oil and Gas (UKOG) and Telit (TCM). Subsequently Milestone changed its name to Catenae (CTEA) and Tern dropped its death spiral so was replaced by Inspirit (INSP).
Published 293 days ago
We have been calling out AIM-listed Inspirit Energy Holdings (INSP) here on ShareProphets for an age: we reckoned the boiler room had no cash and its shares were below nominal. On Friday, at 2.54pm, as the market was getting ready for a nice sunny bank holiday weekend (talk about no-one-is-watching o'clock), up popped an RNS entitled “Issue of Convertible Loan Notes”. It is only after reading the whole RNS that you realise that they are proposing to split the ordinary shares of 0.1p into one ordinary share of just 0.001p and a deferred share (with no rights) of 0.099p. Oh, and incidentally, where is the Confirmation Statement on Companies House, which was due on 30 March?
Published 300 days ago
I have made the point before but do so again that not all death spirals - or alternative structured financings or whatever the MBA phrase is - are the same. Some can actually help the share price. Some really shaft shareholders royally. All are created in a way where the provider cannot lose but some are just usurious. Why, for instance, has Angus Energy (ANGS) agreed to a deal this week with Bergen which ensures that its investors will get so utterly rogered that no amount of lube can ease the pain.
Published 303 days ago
The day, that after 28 years as a journalist,, I take lectures on my vocation from a lying toe-rag like UK Oil & Gas (UKOG) boss Steve Sanderson is the day I quit. Lyin' Steve attacked me at his company's AGM and blames me for the death spiral which - along with drilling disasters - has cratered his company's share price.
Published 310 days ago
After 16 years of missing targets and ongoing dilution, AIM listed Amur Minerals (AMC) is still nowhere near actually building its mine in Eastern Russia and still does not have a single institutional shareholder. The only folks who still believe in this stock are mug punter private investors and that means the only funding available is via bucket shops or death spirals. Right now it is the latter and hence the shares are in a steady retreat - right now just 4.5p to sell. At this rate, losing 1p a month, the shares will be trending towards zero by the summer so its time to panic and go into mega spoof.
Published 311 days ago
Having said that it never needed to raise money again when it raised £1.2 million as it committed securities fraud on July 31 2017, MySquar (MYSQ) announced a £2.11 million death spiral deal on March 7 2018. The first £200,000 loan note conversion was announced on April 12 at 1.31p.
Published 317 days ago
Well I’m glad I removed AIM-listed Tern plc (TERN) from my list of slam-dunk sells for 2018 when the company announced it had binned its death spiral, and instead raised cash from a placing. I still don’t think it has enough cash, but apparently the market disagrees and the share have shot massively higher – from a low point of just over 2p in February, 4p by the end of March and now they sit at 9.85p (having peaked at 11.25p). What of the value of the investment?
Published 331 days ago
Hat Tip to the great Waseem for this but after yesterday's death spiral conversion from UK Oil & Gas (UKOG) here are all the death spiral conversions to date. If I was Cynical Bear I would now be offering a prize for anyone who can show the trend. But I am not as I am a mean bastard with a reputation to protect. So here is the data:
Published 331 days ago
AIM-listed investment company Tern plc (TERN) announced its full year numbers for last year. It is not quite the record-breaking speed of previous years, but getting them out before the end of March isn’t a bad effort. However….well, there are the excuses and then there is cash.
Published 335 days ago
As we approach the end on March it is once again time to look at my portfolio of shares to sell. Of course, it is now down to four after Tern plc (TERN) ditched its death spiral so we’ll need to find a replacement for that one.
Published 351 days ago
AIM-listed Tern (TERN) has announced a placing this morning, raising £650,000 (gross) at 2.55p, and that it has terminated its death spiral facility with immediate effect. This is very good news indeed. I don’t suppose shareholders will be feeling the love just yet, given the destruction of Tern’s share price since last summer, but at least the rot seems to have been stopped.
Published 351 days ago
I realise that the crony capitalists round at Nomad Northland have a few things on their mind, such as who will pay the wages this month, but how on earth can they have signed off on the worst death spiral deal I have ever seen where the counter-party is a man who the SEC nailed for "defrauding investors." I despair.
Published 352 days ago
In today's bearcast I start with a reader complaint but then he is a tosser so who cares? Then it is onto looking at the differences between the funding facilities at UK Oil & Gas (UKOG) and MySquar (MYSQ). I am bearish on both but the differences in the two packages are instructive. I look at Nature Group (NGR), Jim Mellon's uber-ramp FastForward (FFWD) and at Purplebricks (PURP) is the Neil Woodford bubble about to burst again, as even former supporters like Paul Scott admit my analysis was right and theirs wrong.
Published 352 days ago
Today's death spiral funding for MySquar (MYSQ) is bad enough as I explained HERE. But now let's look at who is providing that funding - I'll tell you who: proven liars. Natch Nomad SP Angel should have flagged this up but since it is prepared to overlook brazen securities fraud as long as it banks another retainer for the coke & hookers fund, we know that it is morally bankrupt. Anyhow back to the liars now in business with the holocaust denying fraudsters of MySquar.
Published 352 days ago
When MySquar (MYSQ) misled investors to get away a £1.2 million fund raise in on July 31 2017 it said it would never have to raise cash again. Well it did not take long for a change of mind from the holocaust denying fraudsters did it? And this fund raise announced today is dodgy as hell, yet another mega red flag. So lets go through the lies and spoofs in order up to the latest spoof.
Published 365 days ago
AIM-listed Milestone Group (MSG) has this morning posted the most awful set of results. Having been on the AIM Casino since 2003, the company clocked up losses of £2.26 million on revenues of a paltry £24,640. Retained losses stood at a jaw-dropping £33 million and the audit report (needless to say, missing from today’s RNS) contains, we are told, a material uncertainty paragraph. I should coco.
Published 366 days ago
You may say that fundamentals don't matter on the AIM casino. In the short run you are right - sentiment drives share prices. But in due course fundamentals always out and that inherent valuation mismatch is your opportunity to buy cheap, unloved, stock or to short over-promoted crap. And that brings us to UK Oil & Gas (UKOG), now just 1.375p after yesterday's disastrous news from Broadford Bridge. So what is it really worth?
Published 393 days ago
Having warned back on 7th November that AIM-listed Tern (TERN) was heading into the perfect storm, I note that the shares are now just 2.75p as against 4.375p then. We are just 3/8 of the way through converting the company’s death spiral facility whose identity is not disclosed, its principal investee hasn’t raised a bean via US Capital Partners, Tern has had to pony up more cash to it (having given a clear signal of cashflow the other way). And now we learn that Device Authority has seen 2017 revenues impacted by delays in both customer implementation schedules and customer restructuring. It never rains when it pours….
Published 395 days ago
To lose 25% of your market capitalisation in less than a month looks a bit like carelessness but that is what UK Oil & Gas (UKOG) has managed. The real issue is that it is grossly overvalued on a fundamental basis - the shares should be sub 1p. The immediate issue is the news from Broadford Bridge. Or rather lack of it.
Published 401 days ago
Shares in Tern (TERN) are today off by 9% at a 2.75p offer after news of the latest conversion of death spiral loan note. There is more on that to come and that may well see the shares fall sharply from here. But there was another route.
Published 409 days ago
Lube up morons, another £500,000 tranche death spiral loan has been converted into shares in UK Oil & Gas (UKOG). As time goes on this exercise is becoming ever more painful for the morons who own this stock.
Published 409 days ago
AIM-listed Tern (TERN) has announced that it has drawn the second tranche of its death spiral loan early. The first tranche saw Tern’s stock marched down from over 5p to as low as just 1.75p. The starting point for tranche two is just under 3p and the shares have already notched up a low of 2.125p, although they have recovered to 2.5p as I write.
Published 420 days ago
AIM-listed Tern has announced a further funding round for its biggest investee, Device Authority, totalling “up to” $1.7 million in the form of loans from existing shareholders. Tern is up for $720,000 of that, on top of the $150,000 announced at the back end of November. Whatever else, the proposed $10 million fundraise by DA which would have seen Tern get back $2 million looks to be dead in the water.
Published 430 days ago
AIM-listed Tern plc (TERN) has announced a follow-on investment into InVMA totalling £125,000 to add to its previous investment of £250,000. All very well, but what happened to the expected follow-on of £250,000 at the end of October? It seems to be almost two months late, and only half the money. Why might that be?
Published 434 days ago
AIM-listed Tern plc (TERN) seems to be a good few steps ahead of fellow AIM-listed UK Oil and Gas (UKOG) in the self-inflicted terminal slide as a result of signing up to a death spiral funding package. Indeed , on the day Tern announced the deal the shares collapsed from over 5p to under 4p. They now languish at 2.625p mid: Impressive stuff – unless you are a shareholder.
Published 437 days ago
At no-one is warching O'clock yesterday, 5.17 PM, Uk Oil & Gas (UKOG) announced that the fourth £500,000 tranche of death spiral loan notes had been converted into shares. Once again it was sticking two fingers up to AIM Regulation with regards to timely disclosure.
Published 439 days ago
AIM-listed Tern plc (TERN) seems to have a spot of explaining to do – or, more particularly, its CEO Al Sisto. I refer to the presentation on the website of US Capital Partners in relation to the (so far failed) attempted fundraise by Tern’s principal investee Device Authority.
Published 441 days ago
Uk Oil & Gas (UKOG) today provides a case study in death spiral share price destruction. The only question wis whether the provider converted another tranche a few days ago and UK has not bothered to tell us or whether it converted today and is already selling hard. Elsewhere I look at the Tony Baldry car- crash on the way at Wesztminster Group (WSG) and try to put director share purchases at Condor (CNR) and Concepta (CPT) - which we own - into perspective. I look at Yolo (YOLO) which does not impress me much and blockchain madness at Vela (VELA). I ask what I should get the Mrs for Christmas, I am out of ideas.
Published 441 days ago
With a litany of Red Flags behind it, you might wonder that AIM-listed Advanced Oncotherapy (AVO) has managed to raise any money at all, but this morning’s news is – it seems – good news. Cash coming in (and large quantities of it) should pay down the payables nicely and give the company some breathing space – although we are told that the cash is still in China awaiting approval to be shipped out by the authorities. Followers of the ShareProphets AIM-China Filthy Forty might consider that as an indication that the completion of the deal is rather open to question.
Published 443 days ago
UK Oil & Gas (UKOG) has announced that another £500,000 of death spiral loan has been converted into shares, 14,159,092 of them. But hang on, this does not add up. UK Oil & Gas and its patsy Nomad WH Ireland (WHI) are not telling you something.
Published 444 days ago
Well, the trend is his friend. The shares are now just 3.6p to sell having been c5p when the company announced it was entering into a £10 million death spiral. But Shakoor reckons the bad news is only just starting. Last night he tweeted:
Published 445 days ago
I note the comments made by Cynical Bear as he analysed the stonking collapse in the shares of AIM-listed Tern (TERN) and wondered if this would be the worst ever example of the death spiral. It seemed that there was little untoward in the disclosed details of the funding package, but there is one omission which leaves me thinking that the collapse is set to continue.
Published 445 days ago
I’ve been wondering what comes next for Prof Richard Conroy’s AIM vehicles Karelian (KDR) and Conroy Gold and Natural Resources (CGNR). From my review of their financial results to May of this year (see HERE and HERE) it is clear that they are both in deep trouble – they are running out of money fast and the results to last May show that quite clearly. Lord knows how bad it is now.
Published 447 days ago
I must admit to having a slightly morbid fascination with the various death spiral variants. They all look so similar on the face of it but the devil is in the detail and although the one announced by Tern (TERN) on Thursday looks harmless enough, it could easily crucify the share price, much more so than has been seen already.
Published 448 days ago
I am not sure who has these 70 million options but the bad news is that they lapse at the end of December....
Published 448 days ago
AIM-listed Tern plc (TERN) has issued a portfolio update RNS this morning, but that is not the story. It waxes lyrical about how well Device Authority is doing – but what about the $10m fundraising? Step forward the Statement Re Issue of Convertible Unsecured Loan Notes and Loan To Device Authority for that is where the real beef is. It’s not pretty.
Published 450 days ago
In a private email sent today after interim results from the rampers favourite B ushveld Minerals (BMN) a top broker has called the shares out a s slam dunk sell at 7.625p arguing that they are worth only 2p and that the current death spiral funding will run out soon. He writes:
Published 451 days ago
Luke Johnson was bang on the money at the weekend in his description of the current market madness. In that vein I discuss Milestone (MSG), On Line (ONL), Vela (VELA) and Tizania (TLS). This will end in tears. I take my hat off to Luke Johnson after today's results from Patisserie Valerie (CAKE) but still have two major concerns, a three if you include valuation. I look at Andalas (ADL) and its new death spiral funding and also cover Kefi (KEFI) and Falanx (FLX)
Published 452 days ago
The providers of £10 million of death spiral finance for UK Oil & Gas (UKOG) are not daft. When this last resort funding was announced on 15 November they were initially on the hook for £7.5 million. That is a fair old whack and not surprisingly they are moving fast to reduce that exposure.
Published 457 days ago
There were those, such as our own Drunken Sailor, who argued that UK Oil & Gas (UKOG) could manage to absorb the rolling short of a £10 million death spiral announced last week quite easily and it would not hit the share price. The evidence with just 5% of the spiral drawn suggests otherwise and this makes the stock a slam dunk short.
Published 461 days ago
I suggested last week that the time had come for oil stock promotion UK Oil & Gas (UKOG) to come clean about its financial position and update the market on where it stood on its flow testing at Broadford Bridge. I suggested the shares were a sure fire short at 4.6p.
Published 462 days ago
Sadly illness is still rife in this house so for this Thursday it is no coffee for me with the fit young mums. At least I shall be in Greece in five days time and that must be restorative to my health. In this podcast I start by looking back on UK Oil & Gas (UKOG) and its death spiral. I explain exactly how it works. Then a few further thoughts on Falanx (FLX) and why I am not selling our shares at this price. Then I look at Alexander Mining (AXM), another mega spoof from Clem Chambers, this time at ADVFN (AFN), at "Nomates" disaster RM2 (RM2)Fishing Republic (FISH) - a good zero bet - and at Regal Petroleum (RPT) which seems to be in a spot of bother in Ukraine.
Published 464 days ago
UK Oil & Gas (UKOG) has today announced a £10 million death spiral and some bad operational news. Natch the BB Morons are clinging to various spoofs in the release which I point out in this bonus podcast as well as explaining why these shares are now a slam dunk sell.
Published 465 days ago
This morning AIM-listed Solo Oil plc (SOLO) announced a $5 million death spiral facility with institutional investors and arranged by Riverfort. It is a convertible facility with 8% interest, and an option to repay in cash (with a small penalty). Beaufort Securities (house broker) issued a note this morning. It is utter horseshit – shame on you.
Published 474 days ago
I last covered BOS Global (BOS) in early September when the CEO and founder, Michael Travia, quit suddenly (HERE) and I warned about the future. At the time the share price was over 7p; it’s now 3p. For the avoidance of doubt, I don’t think it’s a bargain now but I thought it worth commenting on the continued role of Mr Travia in this ongoing decline as he is currently playing an idiotic, poor-man’s version of Darwin or Yorkville.
Published 493 days ago
I last wrote about Falcon Media House (FAL) at the end of July following its year-end results (HERE) in which it stated that more funding would be needed despite only coming to the market in March. This morning it announced the form of such funding and it’s not pretty.
Published 515 days ago
I told folks that uber ramp Bushveld (BMN) had to raise cash but the morons knew better as they always do. Better still today's bailout is a death spiral as no proper institution will touch this over-promoted crap with a bargepole. Then it is on to Big Sofa (BST), Saffron (SRON), Altona Energy (ANR) which needs a placing ASAP or it is toast, ITM Power ITM) - crazy valuation + placing ahoy, Albert Technologies (ALB) which looks all wrong to me and finally to Imagination Technologies (IMG) where calls to block a foreign bid are wrong at every level. The gay penguin reference is HERE.
Published 552 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?
Published 553 days ago
Like Richard Poulden, CEO of PCG Entertainment (PCGE), I have a bit of time for Brian Kinane at Riverfort. As someone who believes in transparency and clear communication, my view is that Brian is trying to bring some of that to the world of small cap funding, particularly where the dreaded phrase “ death spiral” is concerned and there’s a few points here to be applauded. It still doesn’t prevent the obvious question being aimed at Mr Poulden though – WHY RAISE MORE FUNDS NOW?
Published 554 days ago
When serving up god-awful FY numbers on deadline day ( June 30th) it was shown that uber dog Servision (SEV) had serially misled investors and indeed told outright lies over the prior half year. Rover also served up its second profits warning in two weeks with the god-awful numbers and 'fessed up "Our working capital position is tighter than we anticipated" - I should cocoa. Today it got worse.
Published 558 days ago
Jubilee Platinum (JLP) last week announced a $50 million funding package to grow its metals recovery business. Oh no Riverfort! Said the snipers. Death spirals, yak, yak, yak. They have it wrong. This deal is, if you read the detail, good news.
Published 579 days ago
Tom and I covered this the other day, but I wonder whether we’ve missed a trick with regard to AIM-listed Advanced Oncotherapy (AVO) and its dealings with death spiral sharks Bracknor. Immediately prior to last week’s funding news my back-of-an-envelope calculation was that Bracknor still held £1.95 million of loan notes and a further £0.7 million from fees. Given that Bracknor held little (if any) shares, why has it not beaten a hasty track to get the loans converted so that it can sell into the resulting strength?
Published 583 days ago
AGM day for AIM-listed Advanced Oncotherapy (AVO) and it has pulled something out of the hat. The shares have shot higher, death spiral outfit Bracknor is history and Advanced doesn’t look like going bust now for at least 4 months. But is the deal as good as believed? Er..no.
Published 584 days ago
Shares in Advanced Oncotherapy (AVO ) are again tumbling on this fine summer's day. Oh what joy it is to be alive. 350p at peak ramp less than two years ago, they are now just 10.75p to sell. Ouch, I just love the smell of burning share certificates belonging to Bulletin Board Morons in the morning. So what crisis looms? Take your pick.
Published 595 days ago
Two weeks ago, following the results of Highlands Natural Resources (HNR) I advised getting out at 23.75p as the bubble appeared to be bursting (see HERE). Well done if you did as you could have got back in at 12p last night as part of the announced funding via PrimaryBid but the question is: should you have done? Hmm, I’m not quite as tempted as Tom sounded HERE but let’s take a look at the details.
Published 596 days ago
The stench of desperation at AIM POS Advanced Oncotherapy (AVO) is overpowering.It knows that insolvency looms, that the money is running out fast ( within weeks?) and that a blizzard of share sales from death spiral provider Bracknor will obliterate the share price in the last few days. The board know it. The advisers must know it. But they cannot bring themselves to admit it. The pretence goes on for a while yet. And thus today we have an RNS.
Published 602 days ago
The other day Red Rock Resources (RRR) announced a deal to fund the Steelmin smelter in Bosnia which involved some alternative financing from Yorkville. At once the critics of boss Andrew Bell - of whom there are more than a few - screamed "death spiral, dilution, the man hads gone mad." A few critics disagreed, arguing that Bell had always been mad. But perhaps before leaping to conclusions it is worth looking atnthe actual structure of the deal?
Published 619 days ago
I have never seen a loan like this. It is sheer desperation from a company that faces imminent insolvency. Make no mistake, Advanced Oncotherapy (AVO) is on the way out and corporate death will occur very soon indeed.
Published 620 days ago
Shares in doomed Advanced Oncotherapy (AVO) are now 15.25p to sell, compared to a 25p nominal price. That means that as death spiral provider Bracknor desperately tried to convert c£3 million on loan notes into shares to flog to eliminate its exposure under the spoof arrangement with Advanced it will demand fees of 40p for every £1 of loan note converted. As it scrambles to convert notes and flog shares before the fat lady waddles onto stage from the wings (where she is already warming up), the share price will continue to tank making things even worse. So what to do?
Published 625 days ago
With its hand forced by my article HERE, Advanced Oncotherapy (AVO) has clarified, i.e. changed, the terms of its death spiral deal with loan sharks Bracknor. It states "This reaffirms Bracknor's prior and on-going support for the Company and its shareholders." Dr Michael Sinclair you are talking bollocks. It has changed a death spiral to a death spiral on steroids.
Published 630 days ago
Wakey wakey Michael Sinclair and the other tossers who run Advanced Oncotherapy (AVO). Time to get out of the luxury gym ( membership fees paid by grateful shareholders) - you need to be issuing a statement don't you? Bracknor? 10 days? Capital Reorganisation? Ring any bells? Come on, call your useless PR man Paul Queenie McManus and tell him to stop promoting the Eden fraud and get a release ready for you.
Published 639 days ago
AIM-listed Advanced Oncotherapy (AVO) has this morning announced another conversion of death-spiral loan notes by Bracknor. That is not news – there have been plenty already and there are many more to come. But for the third time in succession we seem to have different terms being applied. Surely it is time for the company to tell the market what is going on?
Published 644 days ago
I’ve been away for a few days so just catching up on matters and first things first, I need to pick up my normally excellent colleague, Steve Moore, on a couple of glaring ommissions in his piece on Kin Group (KIN) and its funding announcement earlier this week. It was rather rude after all to not give a warm welcome to an old friend.
Published 645 days ago
The great bear Waseem Shakoor rates Frontera Resources (FRR) as one of the top 3 dogs for shooting on the AIM casino. He has just posted seven points for bulls to ignore as they ramp this worthless crap. Over to Waseem.
Published 649 days ago
It is extremely rare for companies to resort to death spiral financing without serious damage to their share price (Gulf Keystone pulled it off a few years ago, but it really doesn’t happen often). Mongolian oil explorer Petro Matad (MATD) is unlikely to be an exception to this rule.
Published 655 days ago
Advanced Oncotherapy (AVO) has announced that NED and highly respected senior clinical oncologist at Great Ormond St and Barts Dr Nick Plowman “will” invest £250,000 in the company – at 30p a share, a 36% premium to last week’s close. Why am I not convinced that this morning’s announcement is anything other than the most desperate of spoofs in a long line of spoofs here?
Published 657 days ago
Shares in AIM dog Advanced Oncotherapy (AVO) closed Friday at just 21p. That is below the 25p nominal meaning that death spiral provider Bracknor cannot convert any more loan notes without taking a huge loss and, if that continues, it means the company will go tits up in the summer. Or the former Malcolm Stacey darling will need to approve a capital reconstruction to set a new nominal (2.5p?) which will see the shares plunge, so meaning Bracknor physically can't convert loan notes so Advanced will go tits up this summer. So when will its shares hit 0p or be suspended from AIM? Vote now in our reader poll - deadline midnight tonight.
Published 659 days ago
Oh dear. Oh dearie me. AIM-listed Advanced Oncotherapy (AVO) has released a TR-1 from institutional investor Aviva showing that it has been dumping shares and went below the disclosable threshold to 2.44% last Friday in terms of its directly held interests. It had a further 0.66% interest via loaned out shares. Meanwhile Advanced Onco shares today fell below the 25p nominal price of its confetti, leaving death-spiral funder Bracknor in a bit of a pickle just five days after ponying up tranche 2 of convertible loans which it can’t convert for less than 25p. Ouch.
Published 662 days ago
Amur Minerals (AMC) was one of the great mining junior ramps of the past 12 months. With the Sith Lord Zak Mir and Justin the Clown leading the charge using bogus charting tomfoolery and soft interviews with the CEO Robin Young, the shares surged to 15p in December at the height of the rampfest. They are now 6.25p to sell and heading sharply lower. What say you rampers? How about "Tom Winnifrith's repeated bearcast warnings were spot on and Zak & Justin The Clown were talking 100% cock as usual?"
Published 665 days ago
AIM-listed Advanced Oncotherapy (AVO) has announced this morning the drawdown of the second tranche of £1.3 million (nominal - £1.235 million after the 5% discount) on its convertible loan note (aka death spiral) package with Bracknor. Good news – the lights will stay on for a few weeks extra. But the second half of the statement is a bit of a puzzle, raising more questions than it seemingly tries to answer.
Published 667 days ago
At no-one-is-watching o’clock last night (5.48 pm) AIM-listed Advanced Oncotherapy (AVO) slipped out an announcement that it had drawn the £2m second tranche of cash available under its one-year loan deal with Blackfinch. With my maths suggesting that the company was close to running on fumes that extra £2m to keep the show on the road pro tem will come in handy.
Published 669 days ago
Another day and another ramptastic "Operations Update" from Andalas Energy (ADL). Operations is a bit of a strong word as Andalas does not really have any. It should really have been "Jam Tomorrow" update but then again tomorrow suggests the jam may arrive which, given the track record of this dog, looks unlikely. What will arrive on Friday is a demand for £500,000 and as Andalas has sod all cash and is burning what it has at a rate of knots that is a bit of a problem. Oddly this is not mentioned in today's RNS.
Published 673 days ago
It’s a bloody death spiral - sell! That seems to be the standard response to an announcement that an AIM company has raised cash via a structured financing plan rather than a, often deeply discounted, placing. But that "truism" is a falsehood. Some structured financings are death spirals, bad news for all bar the provider. Others, however, are put together in a way that only work if the share price rises. And that, surely, has to be better than a deeply discounted placing to bucket shop flippers?
Published 675 days ago
This morning AIM-listed Advanced Oncotherapy (AVO) announced another conversion by Bracknor. Having previously converted three lumps of £100,000 of death spiral loans, Bracknor has gone for £200,000 worth this time – but at the lowest price yet, just 26.74p. That leaves things looking decidedly sticky for the company, which got authority to issue Bracknor with enough loan conversion shares based on the assumption of an average loan conversion price of 44p and the associated warrants at 57p.
Published 680 days ago
Under its death spiral funding package with Bracknor, AIM-listed Advanced Oncotherapy (AVO) has to call an EGM to seek shareholder approval to reduce the nominal price of its shares (currently 25p) by at least half if the closing share price is below 110% of nominal (ie 27.5p) for ten consecutive trading days. And that brings us to the latest spoof director share purchase announced this morning (which hasn’t worked: the shares are down 4% last seen this morning).
Published 688 days ago
It seems that AIM-listed Advanced Oncotherapy (AVO) is so desperate to get out any good news it can that it rushed out an RNS yesterday morning to notify the market of director buying and got the numbers wrong. Oops. Great work in checking and verifying there by Nomad Stockdale Securities.
Published 697 days ago
Ho ho ho. Even as it faces insolvency those wags at Advanced Oncotherapy (AVO) do so with a sense of humour as they try to spoof us all with news of an even more desperate financing which will keep the lights on until late June. Dr Michael Sinclair you should go on the stage. You really are a hoot.
Published 700 days ago
If no Nomad is prepared to act for the FRAUD Cloudtag (CTAG) then its shares, now suspended, will be booted off the AIM Casino. No AIM = no death spiral funding so it will - very soon - run out of, other people's cash, and will go bust. But the first step is being booted off AIM. And, inspired by liar Amit Ben Haim, we have a useful countdown clock until that ouzo moment. Enjoy.
Published 701 days ago
It is just eight days to the GM of Advanced Oncotherapy (AVO) where shareholders are being asked to approve the issue of gazillions of new shares for the Bracknor death spiral. Since the alternative is going bust within weeks if not days then the result is a gimme although I intend attending - as the owner of 1 share - to ask some searching questions. But the collapse in the share price - the stock is now 31.5p mid, 30p bid tells you there are even bigger issues and that Advanced is, quite possibly toast whatever.
Published 701 days ago
Well fraud fans, the first day of reckoning for the shabby fraud that is Cloudtag (CTAG) looms. If it has no Nomad in place by Monday night next week then its shares will be booted off AIM. Unable then to raise even death spiral funding and with no sales it will go bust pretty quickly. If it was not already close to going tits up it would not have attempted that last gasp discount placing with broker Novum. So, as no Nomad will sign up to act for an obvious fraud the Fat Lady is waiting in the wings. When this does go bust the video below, recorded with morally bankrupt rampers for hire Proactive, should be examined very closely by the Serious Fraud Office as it is damning..
Published 701 days ago
Clearly this is the story of the day. I reflect on this from various angles. I then move onto Franchise Brands (FRAN) shares in which surged 16% forcing a suspension. No insider dealing here guv, walk on, walk on. Then it is onto Bowleven (BLVN), Yolo (YOLO), Starcom (STAR) which I may have called Starvest but I meant Starcom, Van Elle (VANL), Nyota (NYO) and finally the uber dog Advanced Oncotherapy (AVO) which is in freefall. Hah! Death spiral shylocks Bracknor your spoof is not working is it! On the subject of terror I mention that evil bastard Martin McGuinness.You should not speak ill of the dead but for this unapologetic murderer and for those in the media who praise him as a good man I make an exception HERE. Mr McGuinness was a wicked man who sought no salvation in apology and repentance and, if there is a hell, his soul is right now burning at the heart of it.
Published 704 days ago
Death spiral provider Bracknor does not buy shares in companies. It loans the desperate, cash at pound of flesh rates which it then converts into shares at discounted rates and flogs to mug punters. That is the classic death spiral model. But to get such a death spiral away it needs a perception of market liquidity and also to avoid a complete short term collapse of the share price. And that brings us to Advanced Oncotherapy (AVO).
Published 709 days ago
Advanced Oncotherapy (AVO) is, as you know, utterly desperate to create buying interest in its shares so that death spiral shysters Bracknor can dump £13.7 million of equity onto the market over the next year. That is not going well and so Advanced today boasts that it has paid investment analyst prostitutes for hire, Hardman, to publish a glossy note. This report is so unbelievably unbalanced that I can only assume that Hardman outsourced the work to the Bulletin Board Morons on the LSE Asylum. Folks can see through this shite and the shares are down by a penny at just 40p bid which is very bad news for Advanced as explained HERE.
Published 713 days ago
I have already covered the admissions (HERE) and lies (HERE) flagged up in today's notice of a GM published by Advanced Oncotherapy (AVO). The great news is that the GM is on March 31 in London, a day when I shall be in the Capital. As the proud owner of 1 share bought earlier this week I shall be there for a bunfight. Just 32p for so much fun - bargain! Get your beer & popcorn ready. Why not come along to join me in giving the board hell over all the lies and other matters? There is free beer on me at Wedge Issue afterwards. But there is a far more serious problem for the shysters.
Published 714 days ago
Heading to zero, serial liar Advanced Oncotherapy (AVO) has today called a GM to approve the issue of a blizzard of shares to obliterate its share price via death spiral. More on that later but the documentation throws up another issue other than the lies refered to earlier HERE, why will Advanced NOT come clean on short selling by death spiral provider Bracknor.
Published 714 days ago
Advanced Oncotherapy (AVO) has today called its GM to approve the issuance of more shares to feed the Bracknor Death Spiral - more on that later for the document is, like the company, a joke. But first lets go to a big fat monstrous lie it told last year to help get that bailout placing away in September.
Published 716 days ago
Shares in Advanced Oncotherapy (AVO) are sliding again today. Last time I looked they were 32p bid and they are heading rapidly towards the 25p mark at which point Bracknor will not be able to forward sell/convert loan notes as explained HERE without GM sanction. Thus the loan shark death spiral provider - which is pro tem exposed to the tune of well over £1 million will be flogging shares as fast as it can. Meanwhile Advanced just won't answer my 16 questions HERE. But there is something else going on which you can see if you check out the Bulletin Boards and it is quite remarkable and shows this company is toast.
Published 717 days ago
For years Advanced Oncotherapy (AVO) has ramped its shares to get away placing after placing with ramptastic investor presentations. But that was before I started asking all those horrible questions for which there was no answer. and Winnileaks started obtaining toxic leaked emails. Last night the company had a presentation in London. It has another in Zurich this morning. Warning Swiss folk and tax dodgers quotes about the London chinwag include "everyone left unhappy" and from a long term bull "I am just throwing in the towel." The shares have crashed by 23% to 36p bid so far today. The target for me remains 0p. But for those folks going to the Zurich meeting here here are 15 questions Advanced can't or won't answer:
Published 718 days ago
When AIM uber dog Advanced Oncotherapy (AVO) announced that instead of going for non dilutive funding ( as no-one would provide it) it was being forced to resort to a dreadful £13 million death spiral from loan sharks Bracknor, its shares were 65p. When the death spiral started the shares were 58p. Now it just £100,000 of the death spiral loan notes on the first £1.3 million tranche converted, the shares are just 43p to sell. Bracknor now has three reasons to panic.
Published 724 days ago
Advanced Oncotherapy (AVO) the company with sod all cash, that is a cash guzzler, with no sales and which has persistently misled both investors and customers has moved up a gear with its death spiral funding and the shares have fallen again to just 49p to sell. Boy how sleazey former director, the Blair crony, Lord Evans of Watford must be glad that he dumped all his shares at 120p just ahead of the last big placing and during a closed period. And there has been no sanction at all. Bully for him. Now back to the death spiral.
Published 725 days ago
If you had raised £10 million for the AIM dog Advanced Oncotherapy (AVO) less than 5 months ago at 100p then your stance on the stock - at 54p-58p- would be some sort of buy. Oh no. broker Beaufort who did indeed raise that cash has today downgraded its stance to, what may be termed a corporate "hold" (i.e. sell) and makes it clear that the shares will fall allowing lower entry points. I should cocoa. Beaufort today opines after the Bracknor death spiral announcement of Friday - the underlines are mine:
Published 726 days ago
Having promised "non dilutive funding" ad nauseam, on Wednesday AIM listed POS Advanced Oncotherapy (AVO) announced a £13 million death spiral funding with are shylocks Bracknor. On Friday it drew down tranche one and promptly served up another dose of smoke and mirrors for punters. The death spiral dance is now underway. Advanced announced that:
Published 727 days ago
At 4.18 PM trading in the shares of AIM listed fraud Cloudtag (CTAG) were suspended ahead of an announcement. I do not know what the news will be but if it was good it would have been rushed out. I assume it is yet more bad news. As I pointed out earlier HERE, Novum Securities has every reason to walk away from the £975,000 placing at 3.75p announced this morning.
Published 728 days ago
Yesterday I pointed out how the £13 million death spiral Advanced Oncotherapy (AVO) had signed with loan sharks Bracknor would see its share price collapse. It should but there is worse news in store - that of insolvency looming in just five weeks time. Insolvency you say? What are you talking about? Let me explain.
Published 729 days ago
I have noted before that some death spirals are in fact a decent way for companies to raise cash, cheaper and less share price destructive than a bucket shop placing. But the Bracknor deal announced today by Advanced Oncotherapy (AVO), which had promised non dilutive funding but clearly does not mean a word it says, as I explained here earlier, is a total rotter. It will crater the share price as Bracknor makes a killing. Let me explain why.
Published 730 days ago
Serial misleader and worthless bag of AIM listed shite Advanced Oncotherapy (AVO) today announced that it has secured death spiral financing for £13-26 million from the lowest of the low DS funders, Bracknor. That is bad enough and will see the shares forward sold to buggery, as I will outline in a separate piece. What is worse is that it exposes Advanced for again misleading investors.
Published 735 days ago
This Kefi Minerals (KEFI) share tip at a 0.58p offer has not been a good one so far. We apologise and as shareholders share your pain. The shares are now 0.34p-0.36p. We took more shares in this fundraise at 0.33p on the view that the underlying value is c1p per share. So what has happened?
Published 737 days ago
Over on the LSE Asylum and elsewhere in Bulletin Board Moron land there is some excitement that Hargreaves Lansdown appears to speak for a large number of shares in the AIM fraud that is Cloudtag (CTAG). The dreamers reckon this is good news as the post below shows. Au contraire mes amis...
Published 750 days ago
AIM-listed jam the day after tomorrow company CloudTag (CTAG) has announced the latest death spiral loan conversion by L1 – this time at just 4.5p per share. Of course, for a company with no product and no orders and which has been, shall we say, economical with the actualitees that is still overvaluing the shares by 4.5p.
Published 751 days ago
Andalas Energy (ADL) is bankrupt but pretends that it is a proper company. Anyone reading train wreck interims to October 31 2016 can only wonder why its directors have not been charged with trading whilst insolvent. It's a total rum and coke but it gets worse.
Published 760 days ago
Shares in the AIM listed fraud Cloudtag (CTAG) have dribbled lower to 6.5p to sell today but what is noticeable is the volume, or rather lack of it. In the face of a complete lack of orders from CES as well as minimal evidence that Cloudtag even has a sales ready product, buying interest seems to have tried up. Even the Bulletin Board threads are going quiet as the company appears to have stopped issuing lies about orders, potential orders and shipments of product. So what happens next?
Published 766 days ago
This morning AIM-listed CloudTag (CTAG) has announced, predictably enough, another loan note conversion by L1. But in what looks to be a bit of a surprise move, L1 has also elected to start on the warrants too, despite there still being loan notes outstanding. But oh dear, what about the dates…..
Published 768 days ago
In a mere five days, Donald Trump becomes president of the United States. In 90 days or so, Theresa May promises to pull the plug on the world's largest trade bloc.
Published 775 days ago
Hapless Nomad Cairn has so far refused to resign as adviser to the AIM fraud Cloudtag (CTAG) despite incontrovertible evidence of house it has misled investors with RNS statements that are outright lies throughout 2016 and in doing so has committed blatant securities fraud. Today's shock video from CES where an Onitor spokesman admits that there is no release date yet is surely the straw that breaks the camel's back in that it directly exposes as a lie every statement made in November & December about 2016 sales that was used to get away a £4.1 million death spiral fund raise. I have written to Tony Rawlinson & Liam Murray at Cairn and cc'd in that useless poltroon Marcus Stuttard, head of the oxymorons at AIM Regulation demanding a statement and action.
Published 777 days ago
A tad surprisingly, I got into cryptography at Christmas so, taking inspiration from a mighty opus in that domain, I thought I would look at a shockingly, disappointing stock, MySQUAR (MYSQ), using a particularly odd approach. No trophy for working out my antics as you may actually find it a risky topic to Disqus, but can I actually do 400 words on this stock in a fitting way with my customary virtuosity?
Published 779 days ago
Yesterday the bear raider Waseem Shakoor tweeted that he expected another conversion notice within 24 hours as L1 sought to offload another line of its death spiral loan funding onto AIM-listed CloudTag’s gullible shareholder base. Right on cue, this morning we learnt that the conversion notice was served yesterday, seeing L1 convert £250,000 of notes into shares at just 6.5p. That, against the current bid price of 8.5p. Having thought that my plan for great riches as an AIM death spiral financier might be fraught with danger, I wonder whether I should reconsider.
Published 779 days ago
With the L1 funding package now fully drawn, AIM-listed CloudTag has now had an awfully large amount of money, yet we are still to see a product available for it to sell. But thumbing through the RNSs of the last few months shows an incredible cashburn. Where has it all gone?
Published 780 days ago
Two RNS announcements this morning from AIM-listed CloudTag (CTAG) this morning tell us that the company has drawn down the final amount of cash under its death spiral funding deal with L1. The problem is that the dates don’t quite work. Perhaps Nomad Cairn would care to clarify (yet again)?
Published 786 days ago
Lucian is off on a tour of Eastern Euroland but when asked what his top sell tip for 2017 was he was in little doubt - at almost any price the answer is Cloudtag (CTAG) with a target price of nil. Actually Lucian does not see the shares hitting zero. However...
Published 791 days ago
I kick off my contribution to the 24 share tips of the year for 2017 that ShareProphets writers will be publishing between now and January 3 with one of the four sells I shall deliver. And I start with the most obvious: sell AIM fraud Cloudtag (CTAG) at 7.125p with a 0p target.
Published 791 days ago
It seems like an eternity of lies ago but the EGM of AIM fraud Cloudtag (CTAG) was in fact just 11 days ago and at that meeting shareholders approved two motions relating to share issuance that allowed the L1 death spiral to go ahead. But they were lied to.
Published 792 days ago
Well surprise, surprise. AIM-listed CloudTag (CTAG) gets its shares unsuspended and a few days later L1 converts another batch of loan notes, as announced in last night's no-one-is-watching o’clock RNS. OK, no great surprises so far – especially in view of the price action since the suspension was lifted. But look at the terms: has there been a a material and previously unannounced change, and if so, when?
Published 794 days ago
After last week’s “cleansing” RNS which saw the previous suspension finally lifted, you would have thought that there were no further little surprises to come from AIM-listed CloudTag (CTAG). So imagine my surprise at reading yesterday’s RNS announcing the drawdown of the latest lump of cash from L1: just where did £50,000 of expenses come from?
Published 798 days ago
Earlier this week, Xtract Resources (XTR) announced an upcoming EGM to authorise the issuance of a further 9 billion shares, a mere 50% of the current share capital! Sounds like a lot but one needs to have a look again at the last heavily dilutive funding round in November to ascertain whether this is actually going to help.
Published 801 days ago
Having ramped its shares up to 0.15p by pretending that the refinacing of its bank debt was by anything other than a death spiral and with some huffy puffy claptrap about new drilling, LGO Energy (LGO) got back to what it does best today, a placing to dilute yet again.
Published 803 days ago
Bear raider Lucian Miers has again challenged the Oxymorons at AIM Regulation to take swift and firm action against Cloudtag (CTAG) for market abuse but has also raised the issue of forward selling by death spiral provider L1 Capital. This is effectively running a naked short and should thus be illegal. Miers writes:
Published 806 days ago
At the new no-one-is-watching o’clock of lunch-time yesterday, ShareProphets AIM-China Filthy Forty play All Asia Asset Capital (AAA) announced that it had received £100,000 in the form of a convertible keep-the-lights-on loan from an entity controlled by an un-named shareholder. One assumes that it must be a very small shareholder as there was no Related Party Transaction statement, but the terms suggest that the company is in a spot of bother. Er, actually a serious spot of bother.
Published 806 days ago
Shares in LGO Energy (LGO) have raced ahead by 33% to just over 0.14p on news that the company has signed up to a new uber expensive death spiral. Truly some folks just do not get why death spirals are called death spirals. But every cloud has a silver lining: the cash means that LGO can repay French banksters BNP Paribas.
Published 810 days ago
Well, it's time to sit back, put one's feet up, and watch how the Cloudtag events unfold. Will the company avoid the terrible fate of the death spiral? Or will it, as the bulletin board morons suggest, suddenly demonstrate a viable and desirable wearable product at the CES 2017 trade fair in, oh, five weeks.
Published 811 days ago
Call me reckless but with still four weeks to go I’m calling the result of the CloudTag sweepstake, although not before having to deal with another steward’s enquiry on Race 2! Read on to find out who is going to be the proud and lucky owner of a “money-can’t-buy” present.
Published 812 days ago
I sense that Waseem and I will not be getting that many Christmas cards this year from the morons who still hold shares in Cloudtag (CTAG) but we did warn you time and time again. Waseem has now issued another stark warning: If you think the share price meltdown is going to reverse, think again. It is about to accelerate! The great man writes:
Published 814 days ago
The great bear raider is a charitable soul and is doing his very best to explain to Cloudtag (CTAG) owning morons how death spirals work for frauds like the one they are invested in. What a nice guy Shakoor is, spending his valuable time educating the (soon to be) poor and stupid. Give the man a bloody knighthood for services to the intellectually challenged. Saint Waseem explains thus.
Published 815 days ago
Thanks to @MarkTaber_FII and @WShak1 for the link. This explains how a death spiral wipes you out. Please take note investors in Cloudtag
Published 816 days ago
As I consider my new career as a death spiral financier on AIM, I am watching developments at AIM-listed jam-tomorrow (if it ever has a product to sell) stock CloudTag and its funding deal with L1 with great interest. Boy, those death spiral chaps are clever!
Published 816 days ago
Over the weekend I urged AIM Regulation and the FCA to open a formal enquiry into market abuse and securities fraud by the AIM uber-fraud Cloudtag (CTAG). This morning I have sent an urgent missive to AIM Regulation and its hapless boss Marcus Stuttard asking why Cloudtag is not being forced to postpone its General Meeting allowing it to issue more shares.
Published 816 days ago
This morning, CloudTag (CTAG) has announced an update to its funding arrangements with death spiral funder, L1 Capital. Here at Shareprophets, we are conscious that these funding agreements can be rather convoluted and obtuse so are happy to provide a free of charge translation service.
Published 819 days ago
Oh dear. They say that no news is good news and so conversely it was beginning to seem that every time AIM-listed CloudTag (CTAG) opened its mouth via the RNS system these days it was bad news. What a come-down from the good old days when it could announce anything it liked and the market loved it. Perhaps the company’s fortunes will change with this morning’s ramptastic RNS, although the reaction seems a tad muted already. Watching this unfold I wonder if my plan for instant wealth as a death spiral financier might hit a snag.
Published 819 days ago
I am a nice guy so am always keen to help. It is, after all the season of goodwill and one should love they neighbour, play the Good Samaritan and all that. And thus with shares in the fraud Cloudtag (CTAG) collapsing to 8.25p to sell I have drafted an RNS for the company to issue tomorrow morning. "Statement re Share Price Movement."
Published 820 days ago
How on earth can Nomad Cairn continue to act for the fraud Cloudtag (CTAG) as it today fesses up to another pre-placing hoodwinking of investors? After the Second Chance guaranteed sales of $5.2 million RNS ( 4 days before a placing) statement was exposed as a big fat lie, now we turn to the US distributor Cities.
Published 821 days ago
So AIM-listed CloudTag (CTAG) has announced the conversion of a further £600,000 of its death spiral funding facility with L1. That is on top of the previous £700,000 announced on Monday of last week. Running the ShareProphets abacus over the numbers, it looks very tight as to whether the company will get anywhere near drawing Tranche 2 of the funding package. But studying it all makes me realise there is a fabulous path to richness awaiting me.
Published 822 days ago
We wait patiently for AIM-listed Cloudtag (CTAG) to get its fitness device off the production line - if either actually exists. Then it can meet the $5.2 million guaranteed order during 2016 from Second Chance which has morphed into what looks more like an £880,000 expression of interest which might lead to sales some time this year or next, if ever. Until then we can rely upon the death spiral funding package announced on 7 November to keep the company from taking a one-way trip to the corporate knackers’ yard. Or can we?
Published 822 days ago
With Cloudtag (CTAG) now reliant on death spiral funding it is engaged in a desperate battle to create retail demand for its shares in order to soak up the wall of death spiral selling. The announcement of clear non events is a sign of that panic. And so meet Mr He.
Published 830 days ago
Any lingering doubts that may have been harboured by bears of Cloudtag (CTAG) were dispelled last week by its tacit admission that it had misled the market earlier in the year when it boated of a firm $5.2 million sale to be completed this year, which has now turned out to be a phantom as predicted.
Published 834 days ago
Cloudtag (CTAG) has today confirmed that net proceeds of £1.44 million on its recent financing have been confirmed as arriving and as such has revealed the financier to whom loan notes are being issued: L1 Capital Global Opportunities Master Fund. Bear raider Waseem Shakoor now points out why this is such terrible news. Waseem writes:
Published 835 days ago
Déjà vu this morning with the announcement from Roy Pitchford at Vast Resources (VAST) earlier today as he announced that it was ditching the Bracknor facility, presumably as he realised that it wasn’t doing wonders for the share price. Well, at least you realised before causing any further damage.
Published 841 days ago
I was starting to warm to Colin Bird at Xtract Resources (XTR) with his decisive action and straight-talking, although today’s hugely disappointing funding RNS which needs about five reads and three espressos to understand leaves me feeling cold, although I’m guessing Beaufort Securities and Beaumont Cornish should shoulder some of the blame.
Published 842 days ago
Having pumped up the share price at the start of last week with yet another ramptastic operations update, all rather predictably comes the dump. This morning AIM-listed Frontera Resources (FRR) announced the draw-down of another £382,550 under a Standby Equity Distribution Agreement (SEDA) – for which read death spiral – with YA II PN Ltd (for which read Yorkville). Another wheelbarrow-load of confetti, 402,684,211 shares, has been issued at 0.095p per share. We are told this will be used to advance work programs of the Company.
Published 854 days ago
I appreciate that Tom wrote last week about the expensive loan from Bracknor (HERE) ; however, I wanted to point out a few other aspects of the financing transaction, particularly after the laughably naïve RNS’s that came out this morning. The FCA need to take a closer look.
Published 862 days ago
Back in May, we tipped Falanx (FLX) at a 4.25p offer and a 6.625p limit buying price with a target to sell at 6.5p by August. There have been a few delays caused by a stock overhang and the placing needed to clear a death spiral. But the shares are now starting to motor ahead. They now stand at 6p-6.25p. Do not sell. In fact...
Published 870 days ago
Falanx Group (FLX) has raised £750,000 at 4p in a placing organised by new broker Turner Pope. It was Turner Pope that approached Falanx and we know most of those who put up the cash and they are firm-ish holders not flippers. Turner Pope will get its commission and also 468,750 shares with a six month lock-in.
Published 875 days ago
Servision (SEV) has today announced its interim results and they are dismal. The company is bust and why it's advisors (Nomad Allenby, broker Belfort Securities & PR himbo Christian Taylor Wilkinson at Cadogan Leander) do not call it a day and walk defies belief. It shows all three are morally bankrupt.The results are analysed in a bearcast special HERE. But I flag up in itw own right a loan Servision has taken from Yorkville which seems to be the new, most expensive loan , in AIM Casino history - at 33% - it is 5 percentage points dearer than the loan the FRAUD African Potash (AFPO) took out from Katrina Clayton, the wife of its FD. Frankly Servision would be better off borrowing on Christian T-W's credit card and splitting the difference.
Published 878 days ago
AIM-listed Texas-based oil explorer and monster cash-burner Frontera Resources (FRR) yesterday released another ramptastic RNS. The shares stormed ahead by 29% on the day, with the rise getting going at about 11am. No doubt someone just got very lucky, as an RNS didn't come out until 3.35pm.
Published 927 days ago
Two weeks ago, following the release of its admission document I wrote about the valuation of Forte Energy (FTE) HERE. It was at 0.006p at the time and I thought 0.002p was a better reflection of the value. Well the share price has dropped to 0.0035p in the meantime but the bad news for those that have stuck it out so far is that my valuation should have been lower.
Published 934 days ago
I’ve been following the antics of Sanderson Capital Partners for a while now and yesterday’s latest shocking funding deal with Eurasia Mining (EUA) has tipped me over the edge and forced me to write.
Published 940 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….
Published 941 days ago
I was delighted to read this morning’s RNS from AIM-listed cancer-buster ValiRx (VAL): it has ditched the value-destroying funding package with Bracknor. About time too, this has been a disaster for the share price ever since it was announced back in March. With the shares having crashed from 12.5p the day before the package was announced to the current 6.875p (last seen) the damage has been horrific.
Published 955 days ago
AIM-listed cancer-buster ValiRx (VAL) has its EGM today at 11.30am at the offices of DAC Beachcroft LLP, 100 Fetter Lane, London EC4AS 1BN. After shareholders voted to reject a resolution to disapply pre-emption rights at the AGM a couple of weeks back, the company has called a new gathering at which shareholders are being asked to vote on it again with management hoping that this time the shareholders get the answer right. Heck, it works for the EU, so why not here? Update - motion passed, shares down.
Published 958 days ago
Tom Winnifrith has stuck the knife into AIM-listed Servision plc (SEV) more times than Avanti (AVN) has missed performance targets – see HERE. And so today we learn that the company has amended the terms of a financing package with YA II PN Ltd (otherwise known as Yorkville) which involved a loan agreement backed by a standby equity distribution agreement (SEDA) – for that, read “death spiral”. But the comedy is in the text of the RNS.
Published 970 days ago
Death spiral providers Bergen are vultures. They are not nice folks. They are not long term investors. But they are not dumb either. They know that shares in African Potash (AFPO) are set to crash and so today Bergen has exercised 63.7 million warrants at 0.3p under some old deal it had. Oh dear. The shares will be admitted to trading on Wednesday but Bergen won't be waiting for then. Oh no.
Published 980 days ago
I first commented on the shocking funding deal between Vast Resources (VAST) and Crede HERE in March with the share price around 0.3p and although Vast managed to get out of the second tranche of funding (and got into bed with Darwin instead), yesterday’s RNS gave a disastrous update on all funding and operational matters – what a doozy!
Published 1009 days ago
After-hours (natch) yesterday AIM-listed biotech ValiRx (VAL) released an RNS announcing the drawdown of the second £500,000 tranche (of up to eight) of its convertible death spiral funding package with Bracknor. We were also told that half of it had already been converted, with reference made to the terms set out in an RNS of 21 March 2016. But the numbers simply don’t add up – oh, and the company had now admitted that associated warrants will have to be approved by shareholders.
Published 1019 days ago
AIM-listed ValiRx (VAL) operates in the biotech space, developing cancer drugs. I’ve been pretty beastly in previous pieces (see HERE) but I am pleased to note that the company has seen fit to address the questions asked over Companies House filings. As pointed out HERE they were indeed wrong and they have now been corrected. Good news. My hope is that the questions over the Bracknor funding deal will now be addressed.
Published 1039 days ago
After-hours last night (5pm) AIM-listed ValirX (VAL) announced a second batch of loan conversions under its £4 million (except it is up to £8.6 million) funding deal with Bracknor. It was at just 7.4p so it is no great surprise that the shares are down at 8.625p mid (last seen) having closed last night at 9.25p. But then there are those warrants….does anyone have the slightest Scooby of what’s going on there from last night’s announcement?
Published 1053 days ago
Great news for the shareholders of Vast Resources (VAST) this morning as Vast announced that it was withholding consent to the second tranche of the Crede financing. If no-one minds, I’d like to take some of the credit!
Published 1055 days ago
Yesterday I had a few comments to offer with regard to AIM-listed ValiRx (VAL) and its £4 million (or is it £8.6 million, or is it £8.6 million plus proceeds from exercise of 5 million warrants at 9p?) CUL deal with Bracknor. My fear is that details of that deal offered up in the RNS of 21 March 2015 look (from Friday’s RNS) to have been incredibly lacking. But wandering over to the Companies House website leaves me wondering if the company can’t get simple Companies House filings right, what hope is there for the mechanics of a complex CUL deal to be fully understood and conveyed to shareholders?
Published 1056 days ago
On 21 March this year, AIM-listed ValiRx (VAL) announced a convertible loan facility with Bracknor Fund Ltd. It was announced that the company could draw down up to £4 million in tranches of £500,000. But it seems that some of the information given was either wrong or just missing, not to mention a small problem of share issuance authorities which look to be insufficient to seal the deal. Having had no reply to two emails sent to the company, I am assuming that the conclusions I have come to are correct. It is not pretty.
Published 1144 days ago
Why has Nomad Roland "fatty" Cornish not yet had shares in insolvent Golden Saint Resources (GSR) suspended? After all it is totally bust. Perhaps it is in the hope that its crowd funded debt death spiral organised by Richard "Gollum" Gill would be a saviour? If so I have bad news because after 88 days...
Published 1220 days ago
By now it is clear after the numerous scandals at New World Oil & Gas (NEW), Gate Ventures (GATE) and so many others that we’ve forgotten, that Roland “fatty” Cornish is officially London’s worst Nomad. His latest triumph is to allow shares in Golden Saint Resources (GSR) to continue to trade even though the company is insolvent and its Richard "Gollum" Gill crowd funded debt death spiral has only raised MINUS £1938.50. To celebrate this walking disaster story we have another caption contest. Don’t hold back…there is a prize.
Published 1222 days ago
It goes without saying that there live execution of insolvent AIM listed POS Golden Saint Resources (GSR) via a crowd funded debt death spiral is not going well. The past 24 hours has seen another £0 raised meaning that on day nine net proceeds are still MINUS £1938.50. But an eagle eyed reader has flagged up a weekend change, as CrowdforAngels tries to cover up how investors are being spoofed.
Published 1224 days ago
It goes without saying that the scoreboard was not exactly rattling yesterday at the live public execution crowd funded death spiral of Golden Saint Resources (GSR). Is that because Golden Saint is an insolvent POS or because the crowd funder crowdforangels has been cursed by having the congenitally imbecilic Northern Slum refugee Richard “Gollum” Gill on board as its compliance officer? Or both. As it happens…
Published 1229 days ago
Another day gone and things look even grimmer in the execution chamber as we watch the public death of AIM POS Golden Saint Resources (GSR). Still only £1100 of the £250,000 needed has been pledged which means that – after costs – three days of the crowd funded debt death spiral has realised a net MINUS £1,938.50. But I am afraid the true picture is EVEN WORSE than that. Moreover…now it is time to meet Gollum, the mastermind behind this fiasco.
Published 1230 days ago
I was all set to recommend selling Arian Silver (AGQ) when it popped to 12p the other day for no apparent reason. It’s now 8p to sell and despite a lowly market cap of £2.8 million the shares are likely to trade much lower.
Published 1231 days ago
This gets more hilarious by the day, the slow public execution of Golden Saint Resources (GSR) as it endeavours to secure £250,000 via a crowd funded convertible debt death spiral. On day 2 the net proceeds so far are MINUS £1,938.50. Death ahoy. The hard maths are just appalling.
Published 1232 days ago
AIM listed Golden Saint Resources (GSR)is out of cash and as we explained earlier HERE it is trying to raise £250,000 via a crowdfunded debt death spiral and even if it achieves that it will still be bust before Christmas. Our target price is 0p. But joy of joys you can now watch Golden Saint die live on screen - so far it has just raised £800!. This is such fun..,
Published 1232 days ago
We have already flagged that AIM-Cesspit POS Golden Saint Resources (GSR) was out of cash HERE. Today we find that despite pre-placing ramps (see HERE and HERE) it appears that it is out of friends too. This morning, it appears that the company could not even get a keep-the-lights-on placing away, and has had to turn to a death spiral. Except that it could not even go to any of the usual players there either, turning instead to crowd-funding. And to cap it all, this funding round has not yet been completed – today’s RNS simply announces of its launch. This is a slam-dunk sell.
Published 1254 days ago
Forget all the jam tomorrow garbage from serial cash burning biotech loser ValiRX (VAL) the half year report out this morning is a dog’s dinner. Look at the numbers.
Published 1494 days ago
I lasted shorted shares in Sirius Minerals (SXX) in August 2013 when the company, desperate for cash, announced a death spiral equity finance loan from an unnamed New York based firm. This was misleadingly dressed up as an investment, with CEO Chris Fraser even crowing that it demonstrated “confidence in the on going development of the York Potash project” when anyone familiar with death spiral financing knows that it did no such thing and such arrangements invariably cause steep declines in the share price.
Published 1503 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”
Published 1516 days ago
If you look more closely at a lot of AIM companies it is hard to see why they are so popular with private investors. So far PowerHouse Energy (PHE) would seem to fit into that category, as despite being popular on the bulletin boards, it has yet to actually achieve much of what has previously been promised or in the expected timescales.
Published 1563 days ago
Fair dues to Ron Duncan at Cloudbuy (CBUY) – he has done a similar deal to the Quindell fraudsters with Equities First Holdings LLC claiming to buy shares when he has in fact sold. But in his statement this morning he has at least fessed up to what price his margin call will be at. Rob Terry and his fellow fraudsters at Quenron have not done this but I can tell you it is c69p. And so with the shares having touched 67p earlier Rob just got a phone call… welcome to Rob Terry...who wants to be a millionaire.
Published 1564 days ago
Crony capitalist Nomad Cenkos won’t tell us. Mr 2+2 can = 5, the fraudster Rob Terry will not tell us but we NEED to know at what price does Rob Terry face margin calls from Equity First Holdings LLC and so presumably sell more shares to EF so creating a death spiral? Well maybe our readers have an idea. There have been various suggestions put forward. Vote now on what you think the margin call price is – deadline midnight:
Published 1609 days ago
Just over two months ago, Gary Newman (a little ambivalently) picked Solo Oil (SOLO) as his runner in the Horse Hill race. His reasoning had less to do with Horse Hill and more to do with the appraisal of the Ntorya gas condensate discovery in Tanzania, in which Solo retains 25%. As it turned out, this was another good call by Gary, albeit a reluctant one! At the start of the month, Solo announced a sizeable upgrade to the reserves at Ntorya-1 and the company’s share price hasn’t looked back. From an end of day close of 0.38p on September 3rd, this stock hit an intraday peak of 1.2p and now trades at 0.98p, last seen. This values Solo at £46.56million. Now that the company has secured a c.$8.6million funding package, the question is can Solo build on its recent fantastic gains?
Published 1668 days ago
Over the weekend I revealed HERE the string of business trainwecks that are the real career of Dragons Den new boy Piers Linney. I also flagged that his AIM listed Outsourcery (OUT) was in dire straits and its shares have slumped from 34p on Friday to 25.5p ( and falling) today as the possibility that it could go tits up looms ever larger – as I flag HERE.
Published 1743 days ago
Yesterday afternoon, Regency Mines announced a £350,000 placement at 0.22p per share. Quite coincidentally I am sure, Regency’s share price had fallen steeply in the run up to this announcement...
Published 2136 days ago
A couple of days ago commissioned researcher Edison published a detailed buy note on AIM and TSX listed Arian Silver (AGQ) at 9p suggesting that a target price of 16p was achievable assuming that the company raised $21.4 million of debt and $8 million of equity at the then share price to meet its funding needs until it turns cash positive in early 2015.