Results

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

Published 3 days ago

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

Anyone fancy buying an Aston Martin Lagonda SUV to help the company make its numbers?

Published 5 days ago

Lots and lots of numbers out today but something that really stuck out to me was the quarter one update from Aston Martin Lagonda (AML), which floated less than a year ago above 1800p a share...and today is on sale only for a few percent above 800p a share. Now that is ugly from anyone's perspective…

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

Published 9 days ago

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

Ferro-Alloy Resources - how about your adviser, broker & shareholder Shard send me a lawyers letter too after your joke IPO

Published 21 days ago

I feel rather left out. A leading broker has received a fascist lawyers letter from Shard Capital for describing the IPO of Ferro-Alloy Resources (FAR) at 70p on 28 March as a "scam." He was a tad harsh in that description but with the shares having tanked to 31.5p already and still a screaming short, it does not smell good..So here is what stinks.

Neil Woodford favourite Circassia – IP Group is selling

Published 34 days ago

Oh dear! It appears from a TR-1 released by Circassia Pharmaceuticals (CIR) today as though IP Group (IPO) - a Woodford investee - has been selling shares in Circassia, a favourite of Neil Woodford...

IP Group – is there a read-across to Neil Woodford?

Published 35 days ago

Fully-listed IP Group (IPO) is an investment company which throws money at early-stage companies. At the last count (28 Feb 2019) Woodford’s Equity Income Fund (EIF) was 3% invested. The remit sounds fairly close to that of WPCT – and many companies are indeed the same, as pointed out in previous ShareProphets articles.

Sosandar slides again back towards IPO price – time to buy back in?

Published 46 days ago

In covering this subject, my prime concern is not to hurt the feelings of Britain’s top share blogger, thirsty Paul Scott, who filled his boots at the 17p IPO. Mr Scott repeatedly argued, normally via 3AM thirsty tweet rants, that my tipping the shares was holding them back and so when I advised readers to bank 100% gains at 34p (and did so myself as well) he argued this was awful advice but thought it good for the share price which he saw at 65p+. The stock is off another 5% today at 22p to sell so should we be thinking of horrifying thirsty Paul and buying back in?

A German Teutonic train ratio tells you that First Group remains cheap

Published 50 days ago

The train operators certainly do make it easy to invest in them.  I read in the business pages of one of the deadwood press publications today that 'a £2.6 billion standoff over pensions threatens to derail a string of train franchises' which could well hit hopes to award long-term franchises in some parts of the country including the West Coast mainline which I live close to.  Another problem for that top performing politician Mr Grayling to deal with.  Why is his name never mentioned as a future Prime Minister?

Argo Blockchain - now a buy?

Published 61 days ago

Recently Argo Blockchain (ARB) announced a “Strategy Update” including “as a result of the challenging conditions, the company has ceased accepting new mining subscriptions and will terminate all existing mining-as-a-service contracts by 1st April 2019”. Particularly not good as the company only listed in August 2018! – that at 16p in an IPO our own Tom Winnifrith stagged (unsuccessfully); by the time of the noted announcement the shares had fallen to around 3p – but they have now recovered a bit and there looks a good chance of more to come…

Tom Winnifrith Bearcast: the FCA must be having kittens over Neil Woodford, if it was anyone else it would have moved in by now

Published 81 days ago

I start today's podcast with an expansion on the themes in today's Tomograph, why I am so depressed about the currupt and rotten state of the West. I discuss Kenmare (KMR) and naked NEDs and then look at Neil Woodford with reference to today's IPO of Proton Partners (PPI). If this was any other fund manager the FCA would have moved in to replace him by now. If you enjoyed this podcast please support the EIGHT rogue bloggers for Woodlarks with a small donation HERE

AIQ – FY results show shares still well overvalued at 14.5p - Bargepole

Published 84 days ago

Standard-listed AIQ (AIQ) – an investment company which rather caught our eye last year in the wake of its calamity of an IPO and repeat suspensions thereafter – has published its maiden full year results. Needless to say, they are nothing to write home about (unless you are a ShareProphets writer!)

Proton Beams to Neil Woodford’s rescue – nope this is just another spoof c/o deadwood press cocksuckers

Published 92 days ago

The Sunday Times “reveals” ( i.e. is told by Neil Woodford’s PR spinners) that his Proton Partners , proton beam centre operator, is planning a £320 million IPO and hoping to raise £50 million on, o-f all places, the NEX Lobster pot. This is a spoof but the deadwood press ( step forward Peter Evans and Sabah Meddings) are happy to assist the great one.

Argo Blockchain: Richard Jennings says it is like being paid £10 to hand over a fiver but I think he's talking bollocks

Published 94 days ago

I am a shareholder in the disaster that is Argo Blockchain (ARB) thanks, I think, to Richard Jennings of Align who suggested I back the IPO. Richard is a bull after today's news but as I explain in bearcast HERE I am not and think he is talking bollocks. But in the interests of balance here is what Richard has to say:

Maestrano – another disaster IPO on the AIM casino warns again

Published 104 days ago

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

First Derivatives – now tell us about Kx and Shakti: does this make your $53.8m ( which you don't have) a pure spunk?

Published 147 days ago

Given that its IPO prospectus was fraudulent and how its earnings have been materially overstated in recent years as demonstrated here, only the sort of moron who would back the fraud Globo to the hilt would still be owning shares in First Derivatives (FDP). They are an outstanding short at 2125p. But now lets look at kX and something that might just blow up First early in the new year.

Shock Winner of smug Sam Smith of FinnCrap Caption Contest announced

Published 155 days ago

After its IPO I asked you all for suitable captions of the photo below. As you can see HERE there were many en tries but there can be only one winner of the sem i naked photo of the UK's top share blogger (mornings only), thirsty Paul Scott. If you feel aggrieved by the winner, fear not, we will have another contest featuring Sam when FinnCrap (FCAP) has its first profits warning. So you will not have to wait too long. Anyhow the winner is...

Key IPOs in 2018: Amigo, Aston Martin and Quilter

Published 163 days ago

AJ Bell (AJB) made its introduction to the London Stock Exchange this week and it promises to be a great few days for those that got in on the IPO, with shares soaring almost +35% within the first two hours of trading. The tips have already started rolling in; Miles Costello (The Times) recommends buying as “the shares weren’t aggressively prices, and offer considerable growth and yield potential”. In this week’s article, we take a look back at tipster and broker sentiment towards three other key IPOs over the last six months: Amigo Holdings (AMGO)Aston Martin (AML) and Quilter (QLT).

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

Published 165 days ago

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

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

Published 167 days ago

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

I hope Amigo investors are loving their teeny tiny dividend

Published 173 days ago

Back in late August I wrote an article about Amigo (AMGO) following the IPO of the 'pioneer of the guarantor loan concept for the non-standard market'. Having concluded last time that 'Amigo is no friend of mine, neither as a user, an underlying lender or a potential share investor', how did yesterday's first half numbers look?

Tom Winnifrith Bearcast: Could Watchstone, the bastard son of Quindell, be a buy?

Published 173 days ago

In today's podcast I look at Tomco (TOM), Watchstone (WTG), the bastard son of Quenron, Condor Gold (CNR), dire numbers from WH Ireland (WHI) and the read across to the FinnCrap IPO, Amedeo Resources (AMED), the Sith Lord Zak Mir and Optibiotix (OPTI) and at Haydale (HAYD)

Tom Winnifrith Bearcast: How Green is my valley and how cool is my hovel

Published 174 days ago

I am back at the Greek Hovel and the noise outside is quite unbelievably torrential rain. I discuss the weather and how stunning the Hovel now looks. Photos are starting to go up HERE on TomWinnifrith.com. I look at Optibiotix (OPTI) and today's stunning news. Cynical Bear needs to get ready to send me another bottle of ouzo. I look at Xeros (XSG), Thomas Cook (TCG) and Telit (TCM) where the clock is ticking ever louder. I have a few more words on the IPO of FinnCrap.

FinnCrap - the numbers, why the IPO valuation is a total rum ‘n’ coke – AVOID

Published 174 days ago

If you wish to ignore my advice go ahead and pony up 28p a share (a £48 million market cap) in the IPO of smug Sam Smith’s FinnCap via Primary Bid HERE. But I would not. Here are the hard numbers which show what a joke this IPO is...

Hotel Chocolat – opens in Japan, growth profile “very interesting indeed”?

Published 174 days ago

Hotel Chocolat (HOTC) has announced the opening of the first Hotel Chocolat store in Japan, emphasising a “hugely encouraging” reaction – this following house broker Liberum having noted on September-announced results “management has developed Hotel Chocolat into the leading UK premium chocolate brand and is now expanding that strategy into new international markets. The combined market size of the USA, Japan and Scandinavia is some 4.6x that of the UK and with sensible plans in place, the next stage of Hotel Chocolat’s growth profile looks very interesting indeed”

BigDish – notes “the recent share price volatility”. It mean the since-month-of-IPO quite consistent decline?

Published 174 days ago

Restaurant ‘yield management’ (i.e. reservations with discounts to fill spare capacity) platform company BigDish (DISH) has updated including, “we note the recent share price volatility… but believe the overhang in the market has now been removed and we look forward to future positive market updates”

Tom Winnifrith Bearcast: Will Malcolm's Santa rally help Sam Smith get the ludicrous FinnCrap IPO off to a flying start

Published 176 days ago

In my penultimate bearcast from Britain before heading off for the olive harvest in Greece I discuss Malcolm's Santa rally, the IPO of FinnCap which is a bargepole for me and why merging two mid tier auditors, BDO and Moore Stephens, will do nothing at all to diminish corporate fraud.

First Derivatives shares surge on interims but 11 points you may wish to consider

Published 195 days ago

As I write, shares in First Derivatives (FDP) the company floated via a fraudulent IPO and which has overstated its earnings by c50% for each of the past three years, are surging. Interims have gone down well and the stock is up 160p ( c5%) at £34.10. But hang on Henry… here are 11 points you may wish to consider before buying

GYG – the Woodford reverse Midas touch strikes again: banks must be shitting themselves

Published 200 days ago

Oh dear. When Neil Woodford spunked £8 million of other folks cash into the July 2017 100p a pop AIM casino IPO of yacht refitting company GYG (GYG) he thought this would be plain sailing. Oh no. Au contraire. The reverse Midas touch has struck Britain’s most arrogant fund mis-manager withy the second (lack of) profits warning in two months. Now I suggest the banks must be shitting themselves, the shares are 42.5p, sinking like the Titanic, as friendless as the Marie Celeste, and things are only going to get worse.

Tom Winnifrith Bearcast: Malcolm kids himself, FinnCrap & Sam Smith must be desperate to IPO right now, why?

Published 204 days ago

I start by referring you to a video just up of my labour of love, the Greek Hovel, which you can see HERE. Then I take apart the bullish nonsense about the stockmarket Malcolm Stacey served up yesterday HERE.  Finally I look at IPOs planned for the next few weeks such as that of Sam Smith's FinnCap and broker AJ Bell. Why oh why go now? Surely they are both either mad or desperate? I discuss in detail why both should be avoided like the plague, referring also to the Funding Circle IPO debacle.

Is the Finncrap IPO a sign that AIM is doomed

Published 207 days ago

Today brings news that FinnCap, Finncrap to its friends, the biggest AIM Nomad and broker is to buy Cavendish Corporate Finance, the corporate advisory firm run by pompous Tory Lord Leigh, who claims to speak for ordinary shareholders but is actually a City fat cat like the rest of them, and that the combined business will itself list on the casino in December. Is this a sign that AIM is headed into irreversible decline?

First Derivatives - are its reported earnings real? After 20 years is KPMG sure?

Published 214 days ago

A few days ago I showed hard evidence that the 2002 IPO of First Derivatives (FDP) was based on false earnings. That was dismissed by supporters as being so long ago that it did not matter. It does! But how about we move to the issue of whether reported earnings in the past three years are "real" or cooked up. I suggest it may well be the latter in which case the stock is going to tank at some stage, soon, when investors realise this. Let me explain...

Tom Winnifrith Bearcast - who to blame for one of the worst IPOs of 2017 - Footasylum, and where next?

Published 215 days ago

Firstly thank you if you have contributed to the Woodlarks Christmas Grotto appeal - we are now just £80 off the £2,500 target so if you can spare a fiver go HERE. In today's podcast I look at the benefits of aging and then at Footasylum (FOOT) in real detail after its latest abject results. I cover workplace diversity, macro trends, cashflows and who is to blame for this disastrous IPO. I hope to see some of you tonight in London and as you may gather I am on the warpath.

First Derivatives – another curious deal: 1010 Data

Published 223 days ago

In a weekend bearcast I flagged up that the real issue with First Derivatives (FDP) is that its core business is a rotten generator of cash. And that – as well as the fraudulent IPO and dodgy related party deals is why the shares ( off again this morning to £28.35) remain massively overvalued.  So what do you do if you are set to report dire free cashflows? Natch turn to the Sam Antar playbook – meet 1010 Data   

Brian McMaster of Jangada Mines is a lying bastard who should be charged like Elon Musk after bailout placing at 3p

Published 234 days ago

Back in June I wrote a piece suggesting that Jangada Mines (JAN) would raise further funds at a significant discount, and at the time I was shot down by many, including some market commentators.

I'm a fan of the Aston Martin brand but won't be tempted by the IPO

Published 249 days ago

I’m a big fan of Aston Martin cars and it is one of the most famous brands from the UK, but I can’t see myself rushing to buy shares when the IPO takes place in early October. More details on exactly how the floatation will be structured should become available when the car maker publishes a prospectus around September 20, but it is expected that it will be seeking a valuation of around £5 billion.

Argo Blockchain: Congrats to Adrian Beeston, the Golden Fleece has been well and truly found

Published 288 days ago

I have a grudging admiration for the stock promoters that inhabit the lower reaches of AIM or the Standard List playing around with cash shells and investment vehicles looking for the next big thing such as Chris Akers, Peter Redmond, Geoffrey Dart etc. Just sometimes it goes spectacularly right and I take my hat off to Adrian Beeston who has pulled off a fabulous heist at Argo Blockchain (ARB).

Stagging a Blockchain IPO – Argo

Published 290 days ago

No, I still do not understand this blockchain malarkey but FWIW we have stagged the IPO of Argo Blockchain (ARB) on the standard list today at 16p. The fund raise was just so impressive. Argo set out to raise just £6 million.

IP Group - surely the shares are a sell...

Published 292 days ago

The Communications Director for IP Group (IPO) is a former workmate and all round superstar Ms Liz Vaughan Adams, aka Lizard. So Lizard,  I'm sorry to be writing this but I picked this up on the broker wires this morning and I cannot disagree with this sell/go short thesis.  

Block Energy has interesting assets and is funded - speculative buy

Published 308 days ago

These days it often seems to be the case that if you are interested in a new IPO, it is better to wait until that company has listed and the dust has settled, as often you will get a chance to buy in cheaper than those taking part in the initial fundraise. Block Energy (BLOE) looks to be one such outfit and the timing of its listing looks good, with the oil sector showing strength, plus there is plenty of potential from gas as well.

Itaconix and Hvivo – All very cosy but……WHAT”S THE POINT?

Published 311 days ago

Just following up on Steve’s piece on Itaconix yesterday (HERE) with a couple of further observations relating to some interesting interactions between Woodford and its partner-in-crime in many of these early stage biotech / tech plays, IP Group, (IPO), but more importantly to ponder why on earth either of them are bothering.

Broker and tipster sentiment differs towards newly-listed companies

Published 317 days ago

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

Tom Winnifrith Bearcast: Radio 4 misguided, ShareSoc Pompous & wrong, Amigo revolting

Published 324 days ago

Tomorrow is my longest training walk yet for the Woodlarks 32 mile charity walk with Brokerman Dan. I plan to set off at 5 AM on a 26 mile trek. Think of my utter pain in this awful heat and please give £10 to a great cause HERE. I then look at the recent Radio 4 programme on shorting which was sprinkled with pompous and half-witted comments from ShareSoc. They are naive and have it all wrong and I explain why. Then I look at whether share dealing should be ethical - ref Dave Lenigas  and his ramping of UK Oil & Gas (UKOG)  - should we all get on board? Finally I look at the IPO of Amigo which I find revolting at every level. 

Yet another AIM IPO disaster: Ethernity

Published 333 days ago

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

Woodford and Autolus – Some much needed good news…..in the short term at least

Published 344 days ago

As I’m always quick to criticise, I thought it only right to congratulate Mr Woodford when the rare pieces of good news turn up and Autolus’s news yesterday is undoubtedly good news although I’m still going to make a couple of observations re Woodford Patient Capital Trust (WPCT).

Mirriad Advertising and Pelatro: SELL and BUY tips are working out as expected

Published 376 days ago

Just before last Christmas, I compared and contrasted two new AIM IPOs that both came to market at just over 60p in the broad “adtech” space. An IP Group-backed dog, Mirriad Advertising (MIRI) and what I though was an interesting play at a low valuation, Pelatro (PTRO).

UK Investor Show 2018 Video: Adam Reynolds chairs small Biopharma session

Published 377 days ago

Chaired by Adam Reynolds this session boated the CEOS of Immupharma, Optibiotix, soon to IPO Phynova and ValiRx. Enjoy.

UK Investor Show 2018 Video - Aidan Bishop of Big Dish Ventures

Published 379 days ago

Big Dish has yet to IPO but the my loyal sidekick Steve Moore has already committed me to invest £1000 in the IPO after a Dragon's Den pitch HERE - where the pizza Hardman Darren Atwater was also wowed. So far no one has asked me for any cash so I guess the IPO is still on the runway but here is more of what got Canada's leading bearded Marxist, who running a capitalist enterprise in Clerkenwell, and also Steve Moore so excited.

Velocity Composites – less than a year since AIM IPO, it’s another profit warning!

Published 383 days ago

In May last year CEO of aerospace industry material kits company Velocity Composites (VEL), Jon Bridges, was “delighted to announce the successful completion of our admission to the London Stock Exchange… look forward to our future as a quoted company with confidence”. That was at an 85p per share IPO price. The shares are currently 55p after a latest “Trading Update”

Ten Lifestyle Group – from IPO emphasising support for its “traction” to profit warning in 5 months!

Published 384 days ago

In November Ten Lifestyle Group (TENG) announced a 134p per share IPO, emphasising “traction our business model and technology platform has generated in our target expansion markets will now be supported by significant investment”. There’s followed in recent months “Ten Wins Contract With Visa”“Ten Wins Contract With American Bank”“Ten Wins First Contract with HSBC” and “Ten Wins Contract With OCBC Bank” announcements. Now a “Trading Update”. Must be good news then…

Standard Listed AIQ announces placing, open offer and return from suspension. Who wins?

Published 404 days ago

In one of the most bizarre listings the UKLA has allowed through, AIQ (AIQ) got onto the Standard List in January, only to be suspended three days later. The shares had gone mad, rising to 125p at suspension despite being a simple cash shell having raised money at just 8p. It seems that there were buyers but nobody could sell as their shares were paper certificates which had not arrived. But there were a few other matters too.

Woodford’s Biotech Woes: Part 2 – hVIVO

Published 408 days ago

Completing my weekend mini-series on a couple of (the many) Woodford-owned biotech investments that haven’t quite worked out as he would have hoped, I couldn’t help but notice that hVIVO (HVO)lost about 50% of its value this week so wondered what was going on.

The Good News from Oxford Nanopore that exposes the valuation scandal at Woodford

Published 426 days ago

I do hope that the FCA and the "Independent" directors at Woodford Patient Capital Trust (WPCT) look into this matter with some urgency as we appear to have evidence today, thanks to Oxford Nanopore, that Neil Woodford funds have been stating their NAV in an unnacceptably aggressive manner. And that is the most generous spin on what has gone on.

Crusader Resources IPO should see plenty of interest

Published 433 days ago

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

Tom Winnifrith Bearcast: Soho House is a canary, Woodford is Burmah Castol & the folly of M&A

Published 463 days ago

In this podcast recorded in a car park I reflect on new mounting problems for Neil "Nomates" Wooodford and wonder if the demise of his empire will be the Burmah Castrol moment of 2018. I ask if the nutso planned IPO of Soho House is a lagging canary and I reflect on the folly of most acquisitions.

Neil Woodford & his Related party pals at IP Group - another damning note from JCap

Published 467 days ago

I am really warming to analyst Anne Stevenson-Yang of JCap whose latest note on Neil Woodfords pals at IP Group (IPO) "Some Companies deserve to die" is a stormer. And she cites the great work done by Shareprophet (sic) in her report.

Tom Winnifrith Bearcast - the FCA is right, the CFD industry sucks, & Clem you are the King ( Spoofer)

Published 495 days ago

In this podcast I look at the FCA Report into CFD providers. It rightly slams themn. We have told ETX we will have nothing more to do with it and really I want no part of this industry. As a libertarian I look at an industry where 76% of customers lose money. Then I hail the King, that is the King of the spoofers, Mr Clem Chambers of Online Blockcrap (OBC) - as I also cover HERE. I look at Moss Bros (MOSB) and what its profits warning plus the problems at Byrons say about B2C stocks. I also comment on Sosandar (SOS), which we own, en passant. Finally I look at the IPO of Nuuvera on the TSXV ( a market that makes the AIM Casino look sober and well run) and what that means for FastForward (FFWD). I again explain why all cannabis stocks will not fly.

Woodford Patient Capital Trust: The Big Short (Chapter 3) – Concerns over its aggressive valuation policy

Published 512 days ago

Having looked at the unquoted risk and the level of debt and connected liquidity issues within the Woodford Patient Capital Trust (WPCT), it is time to look at the tricky topic of valuation policy as it looks to me as if Woodford is taking a particularly aggressive approach, albeit a flexible one, to the valuation of the unquoted stocks (almost all the fund!) that casts further doubts on the underlying NAV.

Mirriad Advertising: The valuation echo chamber at work again - Sell

Published 516 days ago

An interesting compare and contrast for me today looking at the two technology businesses that joined AIM yesterday at a very similar share price. That is where the similarities end though as one is a classic example of an overvalued business bid up by participants in the valuation echo chamber and one looks like that rare mythological beast – a Cynical Bear Buy tip. Let’s start with Mirriad Advertising (MIRI), the massive Sell pick.

Neil Woodford backed Xeros Technology: Is this 2018’s version of RM2 International?

Published 517 days ago

As a natural bear, I’m always interested in finding the next £200 million plus business that could lose 90% in a year a la RM2 International (RM2) this year (see question 4 of my Alternative Woodford Christmas quiz) and I didn’t have to look far for the next possibility; just a bit further down the alphabetical list of Woodford’s holdings in fact, namely Xeros Technology Group (XSG).

IP Group - a disaster waiting to happen: One for the Bankers

Published 518 days ago

US based JCap has published a devastating report on IP Group (IPO) a company heavily backed by Britain's most conceited fund manager Neil "Nomates" Woodford. It reckons that the shares could halve or it could be far worse.

Tom Winnifrith Bearcast: Yet another bad day at the office for Neil "Nomates" Woodford

Published 522 days ago

Another bad day at the office for Britain's most conceited fund manager Neil "nomates" Woodford. There is yet more bad news at Vernalis (VER) now 9p having collapsed again - Nomates has been a big cheerleader after all prior disasters saying Mr Market is wrong. Whatever. Then there is the issue of IP Group ( IPO).  Elsewhere I takje another look at IDOX (IDOX) where I am even more bearish and then at Tungsten (TUNG) which looks all wrong. I also comment on Dialight (DIA) , The People's Operator (TPOP), On Line (ONL), Milestone Group (MSG) and a chat with Mark Slater on a pub company which is just the wrong price. 

Tom Winnifrith Bearcast - feeling sympathy with alleged City criminals and more on UKOG

Published 532 days ago

It looks as if the double share tip video will be out on Tuesday - www speeds in Greece are just too slow to upload it. In today's bearcast I start with the leaking of failed bids, ref Elegant Hotels(EHG). Who benefits and why do it? Then I look at the fund managers accused of colluding to drive down IPO prices. I really do have some sympathy with them and explain why. Then it is onto UK Oil & Gas (UKOG) and Alba (ALBA). Finally I take apart today's ludicrous claims about growing poverty in Britain. They are pure bollocks.

Tom Winnifrith Bearcast - it is fit young mums day!!

Published 564 days ago

Just a short bearcast today as I had to rush off for my regular Thursday morning date with the Fit Young Mums. In today's podcast I talk about the IPO/RTO today of Sosandar (SOS) which we own shares in and I reveal the first of the celeb investors. Then it is onto Playtech (PTEC) and some wider thoughts on gambling regulation in the UK. Finally there is a look at Rosslyn Data (RDT) where - hat tip Roger Lawson - it is surely profits warning ahoy. I look back at the numerous Rosslyn red flags.

Tom Winnifrith Bearcast - rate rise next week - the data that will shock you and shock Britain

Published 569 days ago

Next week the Bank of England will increase base rates. Almost certainly by not enough but it is a start and a sign of what is to come. I look at new data out this week which shows just how much of a shock even a rise of 0.5% will be to millions of our fellow citizens and what the ramifications of that will be. I look at share sales at Berkeley Group (BKG), I look at CEO pay at ASOS (ASC) and finally have real doubts about the forthcoming IPO of Footasylum which I'd dodge big time.

Curzon Energy is about to IPO on the main market

Published 599 days ago

Any new IPO in the natural resources sector tends to grab my attention, and whilst there are plenty of them where I wouldn’t even consider investing my money, occasionally one comes along which looks to have a bit more potential. That would appear to be the case with Curzon Energy (CZN).

Van Elle – argues first quarter “encouraging”, BUT…

Published 615 days ago

An update from Van Elle Holdings (VANL) ahead of its AGM today includes “trading in the first quarter of the financial year has been encouraging” and that the board “remains confident in its expectations for the current financial year as well as the long-term potential of the group”. Sounds encouraging…

appScatter: Initiating coverage with a few warning signs – will history repeat itself?

Published 621 days ago

Interesting to see a new tech IPO this week with appScatter (APPS) joining AIM yesterday, raising £9 million at 65p. I thought I should take a look and only have the three concerns; the management team, the business model and the valuation! Taking each in turn:

Telit IPO Document 2005 - Note 6.7 care to comment Uzi, I mean, Oozi?

Published 649 days ago

The 2005 flotation of Telit Communications (TCM) will - with hindsight - be seen as yet another badge of shame for AIM, the casino which laughably brands itself as the world's most successful growth market. Until 2004 the CEO of Telit & the companies it bought was, in official documents such as THIS, calling himself Uzi Katz. By the time of the IPO that was Oozi Cats. Let us now turn to section 6.7 of that document.

King of the fraudsters Rob Terry promises $1 billion Knob Park IPO - now about those dodgy accounts.

Published 660 days ago

In five year time, the king of the fraudsters, Rob Terry of The Innovation Group and Quindell (QPP) infamy says he will be floating his latest ponzi, Quob Park Estate for $1 billion. Bollocks. There is more chance of me getting lucky with the entire Dallas Cowboys cheerleaders squad within the next 48 hours.  As the SFO investigation into the £3 billion Quenron fraud ratchets up a gear, the only thing Rob Terry will be doing in five years time is praying that his next Roomie at Ford Open doesn't have a taste for ugly older men.

i3 Energy - Going down like Christmas lights in January

Published 661 days ago

i3 Energy (13E) floated at 55p earlier this week. Its shares now trade at just 34.5p to sell. Even by the standards of the AIM Casino this has been a god-awful IPO. But it is going to get an awful lot worse. 

i3 Energy - a $50m fund raise becomes zero fund raise and £14m market cap (oops make that £11m) - disastrous IPO

Published 664 days ago

It was only a couple of months ago, on May 10 - 6 months behind schedule - when wannabee North Sea oil developer i3 Energy (I3E) announced it was to raise up to $50 million as it joined AIM. Since then, as we have noted before, there have been numerous false starts and it was obvious to all concerned - bar Amanda Van Dyke's related party snakefest Glenwick (GWIK) - that the fundraise was in deep merde. Oh yes. Party on bear dudes. This IPO has bombed and the business model is mega-fucked.

Rockpool Acquisitions IPO - a new member of the Sub Standard XI? I fear I can't SUFTUM

Published 700 days ago

The demise of so many Standard Listed companies means that poor Cynical Bear has some big holes in his Sub Standard List X1 squad. But fear not, from God's chosen lands of Northern Ireland here comes Rockpool Acqusitions which will list in early July having raised £1.5 million at 10p.

Entu – from bad (en)tu worse, issues “more complex and extend further” than expected

Published 705 days ago

October 2014, 100p per share, IPO, Entu (ENTU) has issued a trading update commencing that its strengthened executive team is progressing with the implementation of a detailed action plan, as set out in the full-year results statement, to reduce costs, improve operational efficiency, leverage its supply chain, improve cash collection and strengthen controls. Good, good. But what? The shares currently more than 30% lower on the day at well below 20p. Uh oh…

SkinBioTherapeutics – successful AIM admission for a UK Investor Show ‘Golden Share’

Published 775 days ago

Tom Winnifrith’s ‘Golden Share’ (all proceeds to Woodlarks) from Saturday’s 2017 UK Investor Show has today listed on AIM – and it’s good news…

Optibiotix - Skinbiotherapeutics demerger: Mr Market does not fully realise what good news this is!

Published 789 days ago

Optibiotix (OPTI) has announced - not before time we might note- that the demerger of its 52% unit Skinbiotherapeutics and its own AIM listing is underway. I should cocoa. Book building is cracking ahead on the Skinbiotix IPO. Optibiotix currently has an adjusted 52% of Skinbiotherapeutics.

Van Elle – profit warning less than 5 months after AIM IPO!

Published 789 days ago

Well that didn’t take long; 26th October 2016: “Van Elle (VANL), the geotechnical contractor offering a wide range of ground engineering techniques and services to customers in a variety of UK construction end markets, is pleased to announce the admission to trading on the AIM market”22nd March 2017: trading update including “delay and deferral of contracts”

Jason Drummond's Gametech: Heading for administration but is it all what it seems?

Published 792 days ago

Four days before Christmas I revealed that after Teathers Financial (TEA), the next venture of Jason Drummond, Gametech, was planning a listing on NEX Markets c/o London's worst financial adviser/Nomad Mr Roland "Fatty" Cornish. Wind forward and the Court filing below suggests that it is on the brink of bankruptcy. But is all it seems?

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

Published 803 days ago

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

Lakehouse – having disappointed thus far on the main market… proposed move to AIM

Published 803 days ago

Having IPO’d on the main market at 89p per share less than two years ago, support services group Lakehouse (LAKE) has announced a proposed move to AIM (along with a “New Contract Win & Update on Trading”)…

DX Group – from trading despair to planning, er, despair…

Published 805 days ago

Having noted previously justified caution on parcels, mail and logistics group DX (DX.), the shares had edged up to 9.5p before a “Re: Proposed West Midlands Hub” announcement last week…

Buy Saffron Energy at up to 7p - target to sell 12p within months (or weeks)

Published 808 days ago

We should declare that certain team members have invested in this IPO at 5p The IPO was last week and we tipped the stock on its first day of dealings. The shares are now 7p-7.5p - we do not expect any retracement but if there is and you can buy at 7p or less do so big time. We expect to be advising folks to be banking profits at 12p within weeks. Our tip as of last week reads:

Tulip mania/south sea bubble – Snap IPO

Published 808 days ago

Snap, the parent company of Snapchat Inc, floated yesterday on the New York Stock Exchange giving the company a closing valuation of just over $28 billion, after the shares surged 44% from the IPO price. It will also made its two founders, Evan Spiegel and Bobby Murphy, worth more than $5 billion each. The stock closed at $24.48, giving the company a market value of $28.3 billion. At one point it reached $26.05 and a market value of $29.1 billion. The company raised $3.4 billion at $17 a share after pricing its initial public offering making it the biggest tech float since 2014, when Alibaba shattered all records. It is almost three times the size of Twitter, bigger than both HP and CBS, and almost as big as EBay.

Filthy Forty Jiasen – tick-tock, tick-tock, it really is bag of Walkers o’clock

Published 817 days ago

The 24th delisting from the ShareProphets AIM-China Filthy Forty is almost upon us, for shareholders in Fujian Province-based Jiasen (JSI) voted through proposals to depart the Casino at a General Meeting on the 15th of this month, with the company’s exit scheduled for next Tuesday. Anyone still holding has less than four trading sessions left to get out.

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

Published 827 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!

DX Group – another profit warning, from 100p IPO to sub 10p in less than 3 years…

Published 832 days ago

I previously cautioned on parcels, mail and logistics group DX (DX.) with the shares at 30p HERE and 16p HERE. Hopefully the warnings were heeded as a “Trading update” announcement currently sees the shares 60% lower, heading towards 7p…

LoopUp – review as shares sparked by ‘ahead of expectations’ trading update

Published 852 days ago

I looked at remote meetings technology group LoopUp (LOOP) just after the company’s August IPO – concluding, with the shares at 112.5p, that the valuation in conjunction with usual IPO and growth risks saw me avoid, but that I’d monitor with interest. The shares closed yesterday at exactly the same price as then – but are currently approaching 13% higher today, at 127p, on the back of a trading update announcement…

Tom Winnifrith Podcast: Discussing Big Sofa with Adam Reynolds

Published 882 days ago

Big Sofa Technologies (BST) IPO'd on AIM today at 17p - the shares are now 21p. It is the latest Adam Reynolds stock and we own "a few" shares. I recorded this podcast to discuss the investment case with Adam.

More damning statistics on AIM, provided by the world's "most successful growth market". Not!

Published 894 days ago

As a boy I would eagerly await the start of each month. Before I went to bed I said hares brown hares and my first words on waking would be rabbits white rabbits. That was meant to bring you luck. These days the start of the month ritual ( well six days in) involves chortling at the latest dire statistics AIM provides about itself. November was as bad as prior months. AIM is nothing if not consistent.

OneView – following swift about-turn profit warning, now attempted bailout fundraising ahoy!

Published 920 days ago

I warned shares in OneView (ONEV) were for the bargepole list as they slumped last month after the company went from “remains confident” to “likely to be below market expectations” in 6 weeks. They had subsequently recovered somewhat, but that before a Thursday 10:32am “Trading Update and Notice of Results” announcement…

Electric Jukebox backed by Nigel Wray & Cheryl Crow - sorry BB I am going to pass

Published 924 days ago

The Sunday Times front page splashed with news of a forthcoming AIM IPO in the music streaming world, Electric Jukebox. It is an easy splash in that my pal Nigel Wray, Britain's Buffett, is an investor and the company has celebrity "investors" lead by Cheryl Crow whose face beams out of the paper. Chris Akers vehicle Yolo (YOLO) has today raised £2.5 million and is investing £1.4 million in EJ so maybe that is the IPO the paper refers to. But for me this is a big miss and here's why.

Digital Globe Services – another AIM success story; seller returns for 62% discounted takeover just 44 months after IPO! ...

Published 940 days ago

14 February 2013: “Digital Globe Services, Ltd (DGS), a leading provider of outsourced online customer acquisition solutions for large, consumer-facing corporations, is pleased to announce at 0800 today the admission to trading on AIM… at the placing price of 159 pence per common share… The Resource Group International (TRGI), the selling shareholder”21 October 2016: “The independent directors and TRGI are pleased to announce that they have reached agreement on the terms of a recommended cash offer for DGS… shareholders will be offered for each DGS Share: 60 pence”. You what?!?…

TrendIT – a shocking indictment of the Standard List: part two

Published 946 days ago

Yesterday saw a shocking litany of scandal regarding Iraeli tech play TrendIT (TRIT) of the LSE’s Standard List on the main market. We saw how it managed to gain admission claiming to be raising £4m which didn’t arrive, how its accounts suggest that it was not solvent either before or after the IPO, lost its Broker (Peterhouse) which is yet to be replaced, confusion over which firm was acting for it in its IPO and admission placing, a boardroom merry-go-round, a going concern warning from its auditor and suspension from trading “pending an announcement” we’ve all been awaiting for almost three months  – and it only listed in January! Today we bring you, courtesy of the Global Shorting Conspiracy, a translation of an article published by Israeli newspaper Calcalist.

Trendit – a shocking indictment of the Standard List

Published 947 days ago

If you thought that AIM was badly regulated then the Standard List seems to be making great strides to demonstrate how much worse it could all get. We already have Cynical Bear’s Sub-Standard Shockers XI but in the form of Trendit (TRIT) an extraordinary set of events suggests a real scandal is brewing. Will anyone step up to the plate and take action?

Mkango - the ramp has failed, its a countdown to the bailout placing

Published 950 days ago

Have you looked at the chart of AIM dog Mkango Resources (MKA)? It is a corker. It is all down to the looming cash crisis and that is why the shares now trade at 3.5p-4p which is below the IPO fund-raise price from June 15. That tells you how much trouble this piece of Turkish is in.

The Misys IPO, it is one to dodge and it shows we bears are right

Published 953 days ago

Until it was taken private back in 2012 Misys was one of those stocks you did not need to own. Its track record was okay but not brilliant. It had a habit of letting investors down now and again. Its departure was not greeted with wailing and the gnashing of teeth. But now it is planning a comeback in what is flagged up as being one of the largest IPOs for many a year. Caveat emptor.

Tom Winnifrith Bearcast: Crashing with China, Krispy Kreme and the trainwreck CV of Lyin' Chris

Published 974 days ago

In today's podcast, recorded before my father in law hogs the TV room to watch Songs of Praise, I look at what the Krispy Kreme IPO in Londron means, at signs of the mother of all crashes in China and what the CV of destruction from lyin' Chris of African Potash (AFPO) exposed HERE earlier - means. Am I a hypocrite on this matter. Er...no.

PureGym to float: Implications for The Gym

Published 978 days ago

I’ve written on this website in gushing terms on the disruptive business model being operated by The Gym (GYM). However, I mentioned before that it has “one larger competitor”. That competitor is floating on the LSE and so it is perhaps not surprising to see The Gym shares slipping on the announcement.

CDialogues - it was a complete dog!, to be liquidated little more than 2 years after joining AIM…

Published 989 days ago

“Following successful completion of the general meeting earlier today… the last day of dealings in the company's ordinary shares is 14 September 2016 and at 7.00 a.m. on 15 September 2016, the company's ordinary shares will be cancelled from trading on AIM”. Hmmm - “successful” CDialogues (CDOG) says…

Mkango Resources - Quarterlies and a whopping great lie about cash

Published 992 days ago

Mkango Resources (MKA) the companyu with worthless (not so) Rare Earth assets in African which no-one else wants and which was trading whilst insolvent at the time of its AIM IPO has released its debut quarterly results on the Casino."When in Rome"...Mkango has marked the occassion with a great big fat lie.

LoopUp Group – shares to loop up or down following AIM IPO?

Published 998 days ago

“LoopUp Group plc (LOOP), a global software-as-a-service provider of remote meetings, is pleased to announce… admission of its ordinary shares to trading on the AIM market… The reception from investors… reinforces our belief that our differentiated product, business model and plans for the future provide the foundation needed to deliver on our potential as a public company”. With the shares currently at 112.5p, up from a 100p admission price, let’s take a look…

Volution - It's complicated, but...

Published 1011 days ago

Volution Group (FAN) is another by-product of that IPO glut around 2014, when private equity funds found plenty of willing buyers for a wide range of businesses.

Stock Spirits profitability revs higher - potential recovery play

Published 1013 days ago

Heading back into the drinks business, this morning saw interim results from Central and Eastern European spirits producer Stock Spirits (STCK). This can be interpreted as another recent “busted IPO”, with the share price halving since its 2013 flotation.

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

Published 1016 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.

Tom Winnifrith bonus bearcast: The AIM casino disgrace that is MySQUAR, I name & shame

Published 1022 days ago

AIM casino dog with fleas MySQUAR (MYSQ) has today managed a small bailout placing as it teetered on the verge orf bankruptcy just 13 months after its IPO. The roll call name of shame includes pompous PR supremo Piers Pottinger who is a NED, Nomad SP Angel, brokers Mirabaud and Belfort Securities. The shares have plunged to 4p (60% down on the IPO) but are in fact worth 0p. This is a ZERO, an AIM uber-dog. I look at the red flags, talk you through the maths and name the guilty men, the establishment fuckers, the 1% who have made money as poor old private investors took it up the jacksie again. Yes I am angry and use some bad language.

Tom Winnifrith Bearcast - My father prepares to sink Fred Olsen

Published 1026 days ago

I start with the bad news for whoever owns Fred Olsen.  I think look at Octagonal (OCT), Blur (BLUR), much ramped Keras Resources (KRS), XCite Energy (XEL), Magnolia Petroleum (MAGP), 88 Energy (88E), Highlands Natural Resources (HNR), Sareum (SAR) and then a joke IPO called Widecells (WDC), which listed yesterday and is now the subject of a ramp. Feel the stem cells. No actually don't. Just sell.

Shock, Horror! Beaufort issues a "sell" note (re Hotel Chocolat)

Published 1041 days ago

Well this doesn't happen very often. In fact, I can't remember the last time I had a morning note drop into my inbox only to find that something was being rated as an outright sell. The usual guff is a series of "speculative buy" ratings (often on things I wouldn't go near). But this morning Beaufort Securities has broken the city's unwritten code of conduct, plunging the knife into recent AIM IPO candidate Hotel Chocolat (HOTC).

Orchard Funding – from “pleased with how the business has grown since flotation” to “below market expectations” in less than 3 months

Published 1042 days ago

1st July 2015: “Orchard Funding Group (ORCH)… is pleased to announce its flotation today on the London Stock Exchange's AIM market… will enable the business to grow to its full potential and become a leading lender in the insurance premium finance and professions finance market”14th April 2016: “we are pleased with how the business has grown since flotation”Today: “the company's trading performance for the current financial year is expected to be below market expectations”. Uh oh…

Forterra – from anticipating “a shortfall in brick supply” to plant mothball proposals in less than 3 months

Published 1049 days ago

Having IPO’d in April, brick and other masonry products producer, Forterra (FORT) has updated that “profit for the first half is in line with management's expectations”, but that “given current economic uncertainty and sufficient brick inventory levels, the board has reviewed the current production plan...”

Joules - Growth but not necessarily value

Published 1063 days ago

Premium lifestyle brand Joules (JOUL) is one of the freshest arrivals to the AIM market. Along with Hotel Chocolat (HOTC), Joules has been recognised as one of the higher-quality names to opt for AIM in recent months, and a sign that the junior market is still capable of attracting highly investable companies.

SEC - Italian PR comes to AIM

Published 1064 days ago

This morning sees one of the more curious notices of intention to float on AIM. SEC SpA, “the largest independent advocacy, public relations and integrated communications agency in the Italian market”, is seeking to raise €4-6 million.

CDialogues – you were warned. Having announced new contracts unviable, now all current ones terminated!

Published 1067 days ago

“CDialogues plc (CDOG) announces that the group has received a notice of termination… in respect of the four contracts from which CDialogues generates all of its current revenues”. Uh-oh…

Time Out Group – IPO, an absolute rum n’ coke

Published 1070 days ago

Time Out (TMO), founded in 1968 as a London culture and entertainment magazine, has listed on AIM at 150p per share, to capitalise the group at £195 million. Founder Tony Elliott sold a controlling share to private equity firm Oakley Capital in November 2010 with the “strategy to transform what was a traditional print brand into a leading digital platform”. Apparently Oakley “invests in and supports the continued growth and development of some of Europe’s leading companies”. Financially, this ain’t one of them…

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 1075 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.

Bluebird Merchant Ventures - update on Batangas: shares very cheap: BUY

Published 1093 days ago

We now have evidence that some of those who invested in Bluebird (BMV) at the IPO are ignoring lock-ins. That is seeing the shares slip when they should be racing on more good news. We expect this matter to be resolved very shortly indeed and the re-rate to then start and to be dramatic. That makes the shares a buy now.

Breith is back – although I fear the shares will Toople

Published 1107 days ago

Only 14 months after David Breith resigned his CEO role at Coms plc (COMS) in March last year (before being forced to leave that is), he is back with the impending IPO of Toople plc next week on 10 May. As ever the prospectus that was issued last week on 4 May deserves a closer read!

BlueBird Merchant Ventures - first mining IPO for 8 months - we have a small flutter

Published 1132 days ago

I really hate backing IPOs. Many companies just struggle to adjust to life as a public company, it is like those cricketers who are great at proper cricket but just can't make the adjustment to the pyjama game. Whatever. We have had a small exposure (well not that small actually) today in Bluebird Merchant Ventures (BMV) - Bluebird Mining as was -  which is the first mining stock to make it to the London market in eight months.

Take in the Countryside if You Seek a Punt that Might Build your Portfolio.

Published 1143 days ago

Hello Share Tasters. I’ve brought a few house builders to your door since the start of the year. Her’s another one which should see its share price rise - especially as demand continues to outstrip supply.

Healthcare Royalty Trust PLC £300 million IPO canned

Published 1144 days ago

Despite the slavish support of the lamentable Midas column in the Mail on Sunday, the IPO of Healthcare Royalty Trust has been pulled. The company first planned to raise £300 million then scaled that back to £150 million but as I flagged HERE the maths did not add up.

If it sounds too good to be true...Healthcare Royalty Trust IPO shambles

Published 1148 days ago

Healthcare Royalty Trust was planning a stockmarket listing to raise £200-300 million promising investors that by buying royalty streams in pharmaceuticals that were already being marketed it could generate annual returns for investors of 10% of which 60% would be paid out as dividends. Really?

F40 Origo – a history lesson in reading Admission Documents

Published 1162 days ago

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) remains suspended pending financial clarification as shareholders face a grim high noon in the Isle of Man courts when the majority holder of (now defaulting) zeros looks set to get the company forced into wind-up.

Now you can co invest with institutions in ShoreCap, FinnCap, Arden placings - why not?

Published 1173 days ago

Now this is starting to get interesting. PrimaryBid which we have backed since its launch has now got three decent AIM brokers as investors and as of now when they do placings for clients, PerimaryBid customers will be able to participate. This means getting into GOOD placings from half decent brokers acting for decent companies and this is revolutionary. I am already signed up as a client, if you are not sign up - its free - now HERE.

Try the Telstar Tradition and Probe into a New Satellite Venture

Published 1181 days ago

Hello Share Plinkers. You may recall that I am a strong supporter of some companies which have links with outer space. Or at least, with satellites. One such favourite has done exceedingly well for me. I refer to Inmarsat (ISAT) that great British space pioneer which does so much to link up people in inaccessible places. Like the top of Everest, for example.

SP Angel Cuts ShareProphets off its Research list but will it still try to IPO insolvent shit? Of course!

Published 1186 days ago

Nomad & broker SP Angel has today stated that it will not be sending us any more research and so we can no longer bring you its daily mining note. Why have we been cut off?

Car Crash IPO Lenigas Cuba now MINUS 90% after 3 months - Jabba's Excuses Brilliant

Published 1186 days ago

David Lenigas tries his best to ramp the crock of shit that is Lenigas Cuba (CUBA) but its shares are now just 0.5p to sell (in small amounts), that is 90% down in just over 3 months. The excuses Jabba The Hutt is offering on twitter are lamentable as you can see below. And there are also the half-truths.

Mkango Resources - SP Angel Refuses to Comment on the Chris Oil Disaster non IPO

Published 1187 days ago

TSX listed Mkango Resources promised investors - including Chris Oil who put in £100,000 at 2.5 Canadian Cents last Autumn - that its delayed AIM IPO would happen early January. Nomad SP Angel signed off on that statement...I put it to SP Angel today why the silence?

Lenigas Cuba – if you’re a fan of Cuban Oil why you might want to buy MEO rather than Lenigas Cuba

Published 1195 days ago

Hat Tip to reader "Inspector" for this point on the car crash IPO of the year 2015 Lenigas Cuba (CUBA) and its latest (failed) attempt to ramp the share price. On 9th February, Jabba The Hutt published the following update on his company's investment in Petro Australis:

Hey criminal Chris Oil & SP Angel what's happening with the IPO of bankrupt basket case Mkango?

Published 1204 days ago

Oh dear. Oh dear. This looks like another disaster for the lying criminal market abuser Chris Oil who in October put £100,000 into bankrupt TSX listed Mkango Resources at 2.5 Canadian Cents. The stock closed Friday at just 1 Canadian cent with 100,000 shares traded - that would be £500 worth of confetti. But it is not the lobster pot status of Mkango that should really trouble the twerp Oil....it is the ominous silence.

Jiasen - here is how the fraudsters made their cash

Published 1208 days ago

That Jiasen (JSI) is a total fraud is now beyond all reasonable doubt. I actually have more information on this company which the Nomad (Cairn) and AIM Regulation are sitting on but will they bother to do anything? So how has money been transferred from British investors to the fraudsters back in China?

Purplebricks Group – interim results, how much sales & marketing cost needed?

Published 1210 days ago

December addition to AIM, estate agent combining online with local property experts, Purplebricks Group (PURP) has announced results for the six months ended 31st October 2015…

Falcon Acquisitions – here comes the ramp (Challenger take 2)

Published 1221 days ago

I was interested to see the prospectus for a new cash shell called Falcon Acquisitions published yesterday. The business is headed up by Mark Gustafson and Gert Rieder and the IPO is scheduled for Monday 18 January. 

Tom Winnifrith Bearcast 6 January: Alibaba looks like a red flag slam dunk sell

Published 1230 days ago

I could not sleep last night so spent several hours looking at filings by Alibaba (US:BABA), the world's largest IPO. They seem red flag strewn and I would have this one down as a slam dunk sell for 2016. There will be more on this to follow but I am just putting a marker in the sand. Back in the UK I look at Gulf Keystone (GKP), African Potash (AFPO) and LGO Energy (LGO)

Purplebricks foundations look very shaky

Published 1232 days ago

Purplebricks (PURP) floated on AIM during the middle of last month, but its valuation looks on the high side to me.

Motif Bio has the potential to be a big winner

Published 1237 days ago

The biotech sector isn’t my usual area for investment, but one such company that I’ve been following the progress of with interest is Motif Bio (MTFB).

I agree with Paul Scott - all quoted stockbrokers are a sell

Published 1239 days ago

Paul Scott disappointed his army of fans with a refusal to pen a drunken 3 AM blog this Christmas. Shame. Shame. Instead he penned a very sober slating of the quoted brokers prompted by the profits warning from Panmure Gordon (PMR). I have been saying for ages that this sector is uninvestable and but Paul puts it far more clearly.

Q&A with Coinsilium ahead of its Christmas Eve IPO

Published 1244 days ago

Coinsilium Group (COIN) shares commence trading tomorrow on ISDX as the first Blockchain technology IPO. We own shares. Ahead of the IPO here is a detailed Q&A with the company’s Executive Chairman Cameron Parry, and CEO Eddy Travia. 

David Lenigas now breaking ISDX Rules for POS Lenigas Cuba

Published 1247 days ago

What is it with Jabba The Hutt and rule breaking? The poor man seems addicted to it. His latest offence concerns the ISDX Lobster pot car crash of an IPO Lenigas Cuba (CUBA) where he has clearly broken ISDX Rule 32 (disclosure of price senistive information).

Fraudster Rob Terry floating a new company on the stockmarket? He is avin a bubble

Published 1249 days ago

Yesterday Quindell (QPP) fraudster Rob Terry announced that his Knob Park vehicle had spun out a new subsidiary ( which is this still controlled by Mr 2+2 can = 5) , Quob Park Technologies and that "Quob Park Estate (the parent), along with its partners, will be providing advice around the company’s future development strategy, fundraising and corporate financing activities, including any potential IPO". Rob you are avin a bubble.

Tom Winnifrith Bearcast 17 December - Concha another day of shame for AIM

Published 1250 days ago

I am sitting here with my father in Shipston. We have just had a long argument about the deaths of Cranmer, Latimer & Ridley. Naturally we both insisted we had the facts right. I am now 1p better off as I was right. My father has gone to the White Bear early in protest. Back to the podcast, I start with US base rates and why the UK will follow and what that means (house price crash, bad for certain equities). Then it is the AIM disgrace of the day Concha (CHA), onto Afriag (AFRI), Inspirit (INSP), Ultimate Sports (USG), Fastjet (FJET), and the shocker of a July IPO Adgorithms (ADGO). It is another day of shame for AIM.

Tom Winnifrith Bearcast 13 December - From a pain in the back to David Lenigas

Published 1254 days ago

I start with back news, not good but at least I have a handy tip for dodging passport control. Then it is onto the son of the late Brian Schneider of OEM infamy. He wants you and I to pay far more tax from our legitimate earnings though he has lived a privileged life - and still does - thanks to the proceeds of crime. He is a leading Jeremy Corbyn organiser. Right on Comrades. I look at Petropavlovsk (POG) and the idea of buying shares for the bid.  I move onto a new biotech IPO, Levrett. I explain why its a bargepole but also how the coverage of this in the Mail on Sunday (Simon Watkins) shows again the corrupt nexus between certain financial journalists and the PR world with an aim to dupe you, the investor. Then it is onto Jabba The Hutt's Afriag (AFRI) where I follow on from today's bombshell HERE and the follow up HERE by explaining the real problem it - and AIM - now faces.

Defenx AIM IPO - shocking greed and a crap investment

Published 1261 days ago

On Thursday another tech crock of pooh floated on AIM - Defenx (DFX) - this is a tale of City greed and a shite investment.

Senterra Energy – all very cosy round at Optiva Securities

Published 1273 days ago

Tired of acting for shite companies run by David Lenigas? I can’t blame Optiva Securities for feeling that way. Acting for Lenigas Cuba must be a bit of a drag. So why not set up your own shite company and float it. Welcome to Senterra Energy (SEN). Rope in a few mug punters like market abuser Chris Oil to pump it on twitter and off you go.

Fishing Republic – Meaningless Gibberish from the can of maggots

Published 1274 days ago

A trading statement today from joke company Fishing Republic (FISH) does nothing to dispel the idea that this is little more than a well spun can of maggots. Good try Fishing on sneaking out this gibberish when I am in New York on global shorting conspiracy business. Sadly for you I’m in the City that never sleeps and when in Rome…

Golden Saint Resources shares slide as death beckons – live execution watch update

Published 1277 days ago

Floated on the AIM casino 18 months ago at 10p, shares in the insolvent Golden Saint Resources (GSR) are sliding again today and are now just 0.035p to sell (loss since IPO of 99.965%) so how is its crowd funded debt death spiral doing. I am afraid that the news is not good on day 42.

Tom Winnifrith Bearcast 18 November - Globo shoot the Neds, Chris Oil Disaster looming and New World

Published 1279 days ago

I am asked to be nice to Globo (GBO) non exec Gavin Burnell. I am afraid that I cannot be because with reward ( and Gavin had made more than £100,000 a year as a Globo NED if one includes share sales) comes risk. For AIM to work he needs now to face risk as I explain. Then it is onto New World Oil & Gas (NEW) and why some folks are setting themselves up to lose money (again). Finally more bad news for market abuser Chris Oil regarding his latest car crash of an IPO, Mkango Resources

Questions for David Lenigas about Cuba - what is the Rushmans deal really worth?

Published 1281 days ago

I have already demonstrated that the two “acquisitions” made by Lenigas Cuba (CUBA) post its car crash IPO on the ISDX lobster pot were er…not quite as fantastic as the PR puffery from fat aussie share ramper David Lenigas. Now let’s turn our attention to his partnership with Rushmans which was announced pre IPO. Hmmmmm.

Lenigas Cuba shareholder action group formed – hand back our money they say

Published 1289 days ago

Oh dear, as if life were not bad enough for Big Dave Lenigas after LGO Energy’s appearance on the front page of the Sunday Sun today, now comes news that shareholders in ISDX train wreck IPO Lenigas Cuba (CUBA) want their dosh back.

Cambridge prepares £4m AIM comeback

Published 1291 days ago

Stand by for the proposed AIM re-float of Cambridge Mineral Resources, the mining hopeful once headed by colourful entrepreneur David Bramhill, former leading light of Nighthawk Energy and Wessex Exploration. Cambridge, which had dabbled in gold projects from Bulgaria to Colombia before bowing out of AIM in 2009 at a fraction of its original 16p float price, will seek between £1 million and £4 million in an AIM re-launch in the first quarter of 2016, to develop the large-scale Masa Valverde zinc, copper and gold project in southern Spain’s Andalucia region, says chief executive officer Mark Slater.

Was David Lenigas the source of the false rumours of a stock shortage in Leni Gas Cuba?

Published 1294 days ago

An explosive email has emerged, sent by David Lenigas on Friday to various brokers ahead of the disastrous Leni Gas Cuba (CUBA) IPO. Over the weekend false rumours spread across social media that there was a serious stock shortage ahead of the company’s calamitous market debut. The word was that conditions were primed for another potential New World Oil & Gas-style (NEW) short squeeze. If there were any doubt that this was all nonsense, yesterday’s crushing collapse in Leni Gas Cuba’s share price obliterated this. The rumours were completely untrue and it now seems that Lenigas himself forwarded the email below to a number of online stock rampers. Unsurprisingly this email is now doing the rounds.

Big David Lenigas rushes from Cuba crash to Trinidad train wreck - shock photo emerges

Published 1294 days ago

Thanks to reader BobbyChariot who has captured proof that David Lenigas is rushing from Cuba following the disastrous Lenigas Cuba (CUBA) IPO to Trinidad to check out the LGO Energy (LGO) train wreck. Its not a good day for either company but Big Dave is on the case , working hard for shareholders. Feel free to supply a suitable caption in the comments section below

Lenigas Cuba – the greed of David Lenigas and the 0.01p share issue – the dates look very awkward

Published 1294 days ago

If those foolish enough to have invested in Lenigas Cuba at 2p back in July are wondering how they might get their cash back I suggest they start doing a date check or two for I have a shocking revelation.

Who's next to be Geong, Geong, Gone? - China AIM 'Filthy Forty' performance update...

Published 1295 days ago

Who's next to be Geong, Geong, Gone? - China AIM 'Filthy Forty' performance update. So far 15 down and 2 on the way out. Only 23 left standing. The average loss since IPO is a mere 46.4%. Strip out the two best performerers and two worst and the average loss is 82.5%. Shocking. So who is next for the high jump?

UPDATED: False rumours of a stock shortage in Lenigas Cuba

Published 1295 days ago

Over the weekend there was a concerted effort across social media to con private investors into believing that there was a stock shortage for this morning’s Lenigas Cuba (CUBA) IPO. This morning I’ve triple confirmed from various City sources that these rumours are false. There is no shortage in Lenigas Cuba stock for sale, as evidenced by the company’s disastrous market debut. If you want to fight the tidal wave of sellers you can fill your boots with Lenigas Cuba stock. The stock flippers are having a very bad day in the market, despite their best efforts to manipulate it.

Lenigas Cuba IPO - a song for market abuser Chris Oil & fat Aussie share ramper big dave

Published 1295 days ago

Following possibly the least successful IPO of the year which has seen punters minus 80% to sell on day one, I'd like to dedicate this song to market abuser Chris Oil who has some explaining to do to mummy and to fat Aussie share ramper David Lenigas. Appropriately it is by The Primitives, aka those dumb enough to invest in this POS.

Lenigas Cuba IPO car crash – Minus 80% to sell on day 1 and it gets worse

Published 1295 days ago

I hope you had your beer and popcorn ready for the IPO of Lenigas Cuba (CUBA) at 5p because the spread on the shares right now is 1p-1.75p and it gets worse. The “size” is 25,000 to 50,000 which means that you can sell in parcels with a maximum value of £500. If you invested £500,000 at 2p like market abuser Chris Oil did back in July its going to take a long time and a lot of phone calls to get, some of, mummy’s money back.

V2: Lenigas Cuba fund raising bombs disastrously – prepare for IPO bloodbath Monday

Published 1296 days ago

Back in July as David Lenigas raised £4.2 million at 2p for Lenigas Cuba, mug punters like market abuser Chris Oil were told a Standard Listing within 4-6 weeks would raise £5-10 million at 5p. Oh dear, it seems that 13 weeks later the ISDX IPO tomorrow will have seen just £200,000 raised at 5p. Big Dave has bombed! Now wait for the car crash as the maths are dire.

Reader Poll and finish sentence contest – Lenigas Cuba IPO car crash

Published 1297 days ago

Lenigas Cuba lists on ISDX on Monday and this is going to be beer and popcorn time as the flippers head for the exit. And so ahead of this car crash we ask you what will he closing bid price be on Monday. But there is a tie breaker as well.

David Lenigas & Chris Oil don’t get free speech, you disgust me and shame yourselves

Published 1297 days ago

Market abuser Chris Oil is a big investor in Lenigas Cuba whose IPO will be a car crash on Monday. Thus he and David Lenigas are best buddies these days. Their twitter exchanges last week are disgusting as they celebrate closing down their critics. Prepare to be made nauseous by these ghastly individuals.

Lenigas Cuba: The Fat Aussie share Ramper Big Dave Doth Protest too much

Published 1298 days ago

The Lenigas Cuba IPO is going to be a car crash on Monday. We know that a number of the 2p flippers want out on day one and it will be beer and popcorn time as they struggle to sell on the illiquid ISDX tertiary market. But fat Aussie Share Ramper David "I just love the smell of newly issued confetti in the morning" Lenigas is going down fighting and has upped the twitter abuse after I flagged up this looming disaster HERE. Big Dave tweets:

PeerTV – the day the AIM Casino told investors “fuck you”

Published 1298 days ago

Last week PeerTV (PTV) – IPO’d at 45p a share four years ago now 0.02p – accepted that four shareholders had the right to stand for election to its board at an EGM on Monday. Today shareholders were told that they no longer had the right to decide who runs the company they own. AIM has allowed PeerTV to execute shareholder democracy. It has sent a message to all investors – FUCK YOU: the crony capitalists run the show.

Lenigas Cuba – IPO car crash ahoy? Flippers ARE panicking

Published 1298 days ago

Monday sees the IPO of Lenigas Cuba (CUBA) on the tertiary ISDX platform and there is clear evidence that the flippers are panicking and that this new issue will leave blood on Confetti Street next week.

Filthy Forty (and others) - who is passing these as fit for UK markets? Part 4. Yup, losses again

Published 1299 days ago

Having examined Team Stevens and Team Lau, Graham Chester moves on to take a look at Team Wilson/Sacker at UHY Hacker Young in his continuing horror story. Once again, watch as the losses pile up.

PeerTV – sack the board on Monday, back the rebels

Published 1300 days ago

PeerTV (PTV) has been a complete disaster story of the AIM Casino. Its first (lack of profits) warning came within weeks of its IPO at 45p per share in December 2010 and in fact related to events prior to the IPO which it had neglected to mention at the time. The shares are now 0.03p. And so it is now time to sack the board at the AGM on Monday. If you own any of the 2.4 billion worthless pieces of confetti in issue here is how to vote and why you should.

Tom Winnifrith Bearcast 22 Oct - Flip Flop talks bollocks (again), Globo, Cambian & Big Dave's next placings

Published 1306 days ago

Thanks for all your messages regarding the legal triumph, I comment en passant. Then the podcast turns to the nonsense that flip flop Ben Turney is spouting. I am beginning to think that Old Malcolm Stacey is not the only mad lefty on this website. Then onto Globo (GBO) and more news on "that report" and analysis of the potential for disaster at Cambian (CMBN) even AFTER today's dire warning. There is comment on what is happening at SIG (SHI) and Travis Perkins (TPK) and then onto events at Afriag (AFRI - when's the placing - and growing evidence that the Lenigas Cuba IPO is not exactly flying. Oh... and Northbridge (NBI) when's the profits warning?

Ten stark warnings a hurricane is brewing against the Lenigas Cuba IPO

Published 1308 days ago

On Friday Lenigas Cuba released its pathfinder document, prior to its forthcoming IPO - Tom has already savaged it HERE, but it is in fact worse than even he explained. Unlike previous Lenigas debuts, this one has a number of significant cautionary indicators that all might not be well. At 5p most of Lenigas’ adoring legion of fans will ask what can go wrong? The answer is possibly quite a lot, not least because so many of them have already bought in at 2p. We will soon see whether or not the market has exhausted itself of greater fools, but those that ignore the early warning signs could find themselves caught up in a fierce stock market hurricane from 02 November.

David Lenigas and your PR bully - welcome to the kiddies' playpen - more questions

Published 1313 days ago

Big Dave Lenigas still will not answer TWO QUESTIONS.  His PR man last night refused to condemn and almost condoned the barbaric behaviour of UK Oil & Gas (UKOG) shareholders. And now the big fat Aussie stock ramper is playing the man (two men) not the ball again on Twitter:

Tom Winnifrith Bearcast Special - Fishing Republic, valuation is er....fishy

Published 1318 days ago

Thanks to Paul Scott for his help on this one. I know that Gary Newman is a fan but I just do not get Fishing Republic (FISH) at all - the red flags are now highlighted. The Crony Capitalist City parasistes trousered fees of £550,000 ( two years after tax profits) from a £1.5 million fund raise at IPO (with directors pocketing £106,000) but I somehow suspect investors will not propser with this AIM casino chip.

Adgorithms – ‘material’ profit warning, shares down c.60% since June admission to AIM…

Published 1319 days ago

11th June 2015: “First day of dealings on AIM following £27.0m placing… Market capitalisation at Placing Price of approximately £82.1m… Adgorithms (ADGO), a leading software company operating in the high growth online advertising market, is pleased to announce that admission and trading of its ordinary shares will commence at 8.00am today on AIM”9th October 2015: “Adgorithms expects its earnings for the full year to be materially below market expectations”. Welcome to another example of IPO life on AIM…

Golden Saint Resources – More 100% Ramping Bullshit, it’s insolvent – when’s the placing?

Published 1334 days ago

After hours interims from Golden Saint Resources (GSR) a few days ago made it 100% clear that this company is fundamentally insolvent. It is by now out of cash, it is running on vapours. A bailout discounted placing is the only way out and so today there is another pathetic attempt at ramping the shares with a gobshite RNS.

Vmoto – another China AIM car crash underway? Or should that be scooter crash?

Published 1337 days ago

Oh dear. It is another dismal day for those invested in the Filthy Forty China Aim stocks with shares in Vmoto (VMT) suspended on the casino after a most bizarre statement. Let’s look at the timeline of what has – to date – been one of the star performing China AIM plays one of only three showing gains since IPO. Make that two now.

Lenigas Cuba on track, Big Dave “nothing to do with Sefton” – source

Published 1344 days ago

The flotation of the latest vehicle of Big Dave Lenigas, Lenigas Cuba (CUBA) is on course says a source close to the company and its listing could be achieved as soon as October, and will certainly occur by late November.

Zak Mir's Bull Call Of The Day No. 2: Sanne Group: Initial Journey Towards 320p Anticipated

Published 1373 days ago

The initial post IPO period for a stock or market can be a very dynamic one for a stock, with the rewards significant for those who can call a positive re-rating well on the timing front. This is something one would be trying to achieve at Sanne Group (SNN), where it can be seen how from the initial 200p offer price the shares opened at 220p and have essentially never looked back. 

China Fraud on AIM – the stench of Zedex

Published 1377 days ago

I warned folks about Zedex on 16 September 2014 – it is the unregulated boutique that specialises in floating frauds and investment car crashes from China on the AIM Casino. I now update that piece in light of recent events at Camkids and Naibu, both proven Norfolks. I warn you, next up for share price evaporation is China Chaintek (CTEK).

Breaking: Lenigas Cuba raising £3 million at 2p TODAY, ahead of 5p IPO but not on AIM

Published 1397 days ago

And we are off again with the next Big Dave Lenigas fund raise. This time it is Lenigas Cuba where books will close on Friday on a pre IPO funding raising £3 million (or a bit more) at 2p. Heck I know I’m on sabbatical but I thought I’d share this scoop with you.

Jiasen – circling the plughole of AIM Casino Death: FD Quits

Published 1400 days ago

China fraud Jiasen (JSI) floated at 82p a year and six days ago. The shares are now 4.5-5.25p following news that the Chief Financial Officer Kian Tan is set to walk the plank within weeks. The shares now trade on an historic yield of almost 50% and at an 80% discount to stated net cash and on a PE of 0.3 if you believe the numbers. I do not. They are pure fiction. Jiasen is circling the plughole of AIM casino death as I flagged up again yesterday HERE.

Fishing Republic; looking to expand

Published 1425 days ago

The sportfishing industry is one that I know well, as it has been part of my day job for many years! So it was with great interest that I followed the listing of Fishing Republic (FISH) on the AIM market earlier this month.

Teathers Financial is a highly speculative Buy

Published 1447 days ago

Teathers Financial (TEA) has gone from being one of the most talked about and hyped AIM shares to virtually forgotten in just a few weeks!

Zak Mir's Bull Stock of the Day: Royal Mail Group Full Blooded Recovery Towards 570p Indicated

Published 1462 days ago

To put it mildly it has been a rather rocky ride as far as shares of Royal Mail Group have been concerned since they came to market in the autumn of 2013. But at least from a technical perspective there has been a method in the madness given the way that after declining quite sharply in early 2014, support came in repeatedly at initial post IPO sub 400p levels. 

SP Angel Morning Mining note: Coal of Africa, Highland Gold, Sirius Minerals, Solgold, Rio Tinto and the new IPO South32

Published 1463 days ago

John Meyer of SP Angel this morning comments on Coal of Africa, Highland Gold, Sirius Minerals, Solgold, Rio Tinto and the new IPO South32 as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond. 

1 More Question for Rosslyn Data Technologies

Published 1472 days ago

Shares raced ahead almost across the board on Friday. Even dogs like Rosslyn Data (RDT) managed to eek out some gains but its stock still languishes at 14.25p despite a raft of meaningless huff and puff releases and well down on its IPO price of 33p a year ago. And so I have a small question for the heavily loss making firm.

Tom Winnifrith Bearcast 29 April - Pre LSE AGM Issue

Published 1482 days ago

I am off shortly to the London Stock Exchange AGM and events today show why AIM is such a joke of a casino. I refer to statements by Mosman, the er..lies of New World Oil & Gas and the total farce over Horse Hill. I give you full details of the next Dave Lenigas IPO and where to apply, not that I shall be doing so I stress. I cover the latest disaster to hit my good friend JimMellon, this time it is at Webis. and what the Benchmark and Hardide profits warnings tell us about wider equity valuations.

Video of UK Investor Presentation by soon to IPO Bitcoin play Coinsilium

Published 1485 days ago

Coinsilium is planning an IPO within weeks on AIM and it seems to be attracting some interesting backers as a bitcoin play. It presented at UK Investor Show 2015 and here is the video.

Rosslyn Data Technologies – and this is why it is losing customers

Published 1488 days ago

When is Rosslyn Data Technologies (RDT) going to serve up a trading statement ‘fessing up to the speed of decline in its UK business, the cashburn and the urgent need to raise bailout capital this year? And when will it ‘fess up to investors about how the IPO prospectus of last year was misleading – a matter I have raised with the FCA – as to the impact of departure of key personnel before flotation? You want another example of that? Here you go.

Trap Oil = Crap Oil – a few facts and figures to make your blood boil

Published 1488 days ago

Trap Oil (TRAP) is yet another true disaster for investors – if not fat cat directors – from the AIM casino and 2014 results today come with a warning of potential insolvency and are truly grim. So here are just a few facts and figures to make your blood boil.

A look at some of the rascals involved in the Gate concert party.

Published 1501 days ago

It is little wonder that AIM listed China scam Gate Ventures (GATE) chose not to reveal the identities of those behind the concert parties that control 87% of its stock in its IPO admission document.  Nevertheless the fingerprints of “colourful” entrepreneur Dr Johnny Hon appear to be all over it.

Oooh er Mrs…Management Resource shares suspended – who is the mysterious Halycon?

Published 1502 days ago

Shares in AIM Casino listed Management Resource Solutions (MRS) were suspended yesterday as it admitted that monies it needed to complete an RTO had not arrived, a statement which begs the question as to who is its supposed lender Halcyon Capital Management Pty Ltd. Oooooo Errrr Missus.

FCA asked to investigate Cenkos and Rosslyn Data Technologies over IPO Prospectus

Published 1515 days ago

Rosslyn Data Technologies (RDT) floated on the AIM casino on 29th April 2014 having raised £10 million at 33p. Cenkos acted as Nomad and broker and will have earned almost £700,000 from this company. The shares are now trading at just 13.375p –this has been a disastrous IPO for those who backed it and I have today written to the FCA asking it to investigate Cenkos and Rosslyn to see if the prospectus for the IPO was misleading.

Peter Landau wants to float another POS on AIM – the man has no shame

Published 1522 days ago

Disgraced Aussie promoter Peter Landau has no shame. Investors have lost almost everything on Range Resources (RRL) while Landau has trousered millions via his Okap Ventures Company. Shares in Black Mountain Resources (BMZ) remain suspended. Yet the money grubbing bastard is back for more as he plans, I can exclusively reveal, his next IPO.

Tom Winnifrith BearCast - Grand Group Investments - another China POS IPO - Red Flag Special

Published 1575 days ago

Grand Group Investments plans to IPO on AIM tomorrow thanks to fat crony capitalist Ray Zimmerman of ZAI Corporate Finance. The usual advisers to China Norfolks are on board: dirtbag lawyers Pinsent Masons and PR poshboy Henry Harrison Topham, I say old chap didn't your grandfather bugger mine behind the bike sheds at Eton? In this podcast I look at the other Red Flags

Tom Winnifrith Bearcast 26 January

Published 1575 days ago

In today's podcast I look at Igas (vindicated), Quindell (vindicated), Gowin New (vindicated), Cambria Africa, Flybe, Fitbug, Coms (vindicated) and prepare to have a go again at Ray Zimmerman and ZAI over its next China POS IPO

AO World = An Opportunity Which Only Really Looks Disastrous (for shareholders)

Published 1589 days ago

Tom W has already mentioned a certain Mr Rose earlier today but it is another one of his chairmanship that particularly interests me today and that is at AO World (AO.). I looked at the self-styled ‘leading European online retailer of electrical products’ a few weeks ago and concluded that it would ultimately prove to be a car crash for investors based on an excitable valuation today in a sector with growth but ultimately wafer-thin margins and a high level of competition. 

Buy Entu at 107p

Published 1591 days ago

Investment Case: Provider of energy efficiency products and services to homeowners in the UK, entu (UK) plc (ENTU) listed on AIM at 100p per share on 30th October. However, unlike most IPO’s, the prospective ratings – a price/earnings multiple of 8.4x and forward dividend yield of 8% – suggested this one potentially attractive. This has been reinforced by a trading update earlier this month noting that the company “has seen robust trading in the year across all its divisions” and that it is seeing a positive combination of increasing brand awareness and increasing public awareness of the economic and environmental benefits of energy efficient home improvements. Still though, at a current 107p offer price – only a little above the IPO price – the shares are a buy.

Speculative Buy Management Resource Solutions

Published 1594 days ago

Human capital resource consultancy is far removed from my usual investment area of oil and mining companies! But fellow ShareProphets contributor, Doc Holiday, got my interest when he mentioned a small company called Management Resource Solutions (MRS) that had recently listed on AIM and which was in this business.

Pets At Home: a recent IPO that’s actually quite interesting?!

Published 1628 days ago

Another week, another set of numbers from a 2014 float. After Poundland (PLND) last week it is the turn of Ptes At Home (PETS) to pucker up and unburden its latest earnings thoughts onto an expectant market.

Poundland: worth more than one pound but don’t pay more than three…

Published 1635 days ago

When we look back on 2014 the market share gains by discounters in the retail sector will be one of the investment themes that will be remembered.  There is therefore a certain correctness in the timing of the Poundland (PLND) IPO earlier this year.  Unsurprisingly if you were lucky enough to buy some shares early on in its life as a public company you are currently at a capital loss but let’s not be too critical at least the business has shown a bit of form over the last few quarters.  It is not easy to generate a 4.7% like-for-like sales growth as Poundland did over the last six months.

Recent IPO smackdown: Zoopla vs AO World

Published 1637 days ago

Who remembers back to the IPO frenzy of earlier this year?  A time when almost anything seemed possible and, if it was in a reasonable state of readiness, was floated by those oh-so-helpful investment banks. I was reminded of two names earlier today due to the publication of their results.  Zoopla (ZPLA) is the group behind a number of property websites whilst AO World (AO.) apparently is ‘on a mission to become a leading European online retailer of electrical products’ (as per its corporate website).  Both were floated earlier this year and both are nicely below their initial list price.

Friday Caption Contest: Quenron goes into meatballs or was this where the Quindell logo originated?

Published 1662 days ago

A good reader spot of another Quindell (QPP) logo discovered in Fort Lauderdale airport. This time the operation in question is in the pizza and meatballs business. Perhaps Rob Terry has pulled off another masterstroke acqusition given the obvious fit between selling meatballs and telematics, mobile doctors, low cost insurance, ambulance chasing, solar panels, indoor golf and scaffolding installation. Or maybe this is where he got the idea for the Quenron logo from? What do you think? Captions in the comments section below. My entry is:

Daniel Stewart IPO Department – Caption Contest winner revealed

Published 1683 days ago

As ever there was no shortage of readers keen to stick the boot into near bankrupt crony capitalist AIM Casino advisor Daniel Stewart (DAN), the firm run by Peter Shea that made millions floating Quenron (QPP).  Earlier this week we revealed the shock picture of its IPO department headed by smooth talking Paul Shackleton and asked you for your captions. And the winner is:

AO World is a joke and a sell and a lesson for our times

Published 1690 days ago

When, in the not too distant future, learned books and articles appear discussing the crazy climate at the top of the bull market which started in March 2009, there will be various iconic examples greed and folly at the peak in 2014.

Alibaba Gets the Thumbs down from ShareProphets Readers but why?

Published 1696 days ago

Last week we asked you for your thoughts on Alibaba, the world’s biggest ever IPO. It seems that 7% of you already hold the stock and 24% would buy at a lower price but that seven tenths of ShareProphets readers are bearish r not interested. And the results show why. We asked would you buy shares in Alibaba. And you said:

MySale Group – full-year results, smoother progress since turbulent IPO?

Published 1696 days ago

MySale Group (MYSL), which has established, online flash retail sales sites in Australia, New Zealand and South-East Asia and an expanding international presence has announced a first set of results (for its year ended 30th June 2014) since its far from smooth IPO in the same month. Do these suggest smoother progress now?

Mr Dragon’s Den Piers Linney: Why are Outsourcery’s customers so loathe to pay their bills?

Published 1698 days ago

The first six months of this year have not been without challenge, but it is important to remember how much this young and fast growing firm has achieved in the same time” – so says Ken Olisa OBE, the chairman of Outsourcery (OUT) the IT firm run by Dragon’s Den star and serial business failure Piers Linney. Yes Ken – those who backed the AOM Casino IPO in May 2013 have now lost 84% of their dosh with the shares at 16p. You have achieved great things. How about you arrogant fuckers just say sorry for once. You screwed up. Show some humility.

Alibaba – Reader Poll – POS or a Must own stock

Published 1703 days ago

Shares in Alibaba have raced ahead since its IPO and the Chinese internet giant ( which could not get a HK listing away so is US listed is now valued at more than Wal-Mart. Are you temped or compelled to get on board? Personally I think the valuation is insane and am not wild about Chinese stocks in general. But what do you think? The deadline for voting is midnight Sunday and you can vote only once unless you are from Glasgow where it appears multiple voting is par for the course.

GOTCHA! Naibu - The bombshell revelation - surely the shares must be suspended NOW

Published 1705 days ago

I do hope that someone round at Daniel Stewart, Nomad and Broker to AIM listed China fraud Naibu (NBU) has learned to read Chinese since the crony capitalists FAILED to do adequate due diligence on this POS before it listed. Because I have a little press cutting for you chaps from 2008. If you are not too busy spending the £600,000 you have made in fees from Naibu in the past 18 months you need to read it and then resign at once as Nomad and broker and have the shares suspended. This is a bombshell.

Royal Mail: Buy, Sell or Hold?

Published 1705 days ago

Royal Mail (RMG) shares are trading at 419p with a yield of 3.17% and a PE of 3.25. Royal Mail is known throughout the UK as a ‘universal service’ provider of letters and parcels.

CDialogues at 280p worth 330p claims broker Mirabaud

Published 1707 days ago

Yesterday, mobile marketing pioneer CDialogues (CDOG) reported a strong set of first half results, in line with broker expectations. The company posted triple-digit growth in both revenues (+106% to €4.1 million) and pre-tax profit (+111% to €1.3 million), both 3% ahead of the May pre-IPO forecasts. Broker Mirabaud has responded with a buy note at 275p setting a 330p target price for the shares.

Was it Naibu that scuppered the Fraspens IPO or has Daniel Stewart stopped floating shit on the AIM Casino

Published 1707 days ago

The sorry saga of AIM listed China fraud Naibu (NBU) gets murkier and murkier and at the heart of it is City Nomad and broker Daniel Stewart, the firm that brought Quenron to the AIM casino and acts for Naibu. I asked it to show integrity at the weekend by quitting Naibu given my explosive revelation HERE. But Daniel Cesspit would rather bank the fees. So let’s talk Fraspens. Fraspens who you say? Well let me explain, on 21 July this fine enterprise issued a press release announcing inter alia:

Now on a PE of only 0.45, why does Daniel Stewart not rate Naibu as a buy? Because it’s a fraud!

Published 1707 days ago

Shares in China based AIM listed fraud Naibu have slumped to just 23p today – they were 50p on Thursday before the disastrous interims were published. House broker and Nomad Daniel Stewart (the firm that signed off on the Quenron IPO) stated on Friday that earnings will be 46p this year and that fair value is 50p. So why is it not rating the stock as a buy?

Outsourcery share slump accelerates - is Dragon’s Den star Piers Linney really worth £100 million?

Published 1710 days ago

It was less than four weeks ago that AIM Casino listed POS Outsourcery (OUT) announced a rescue placing at 20p. Today the shares are 15.5p to sell. So anyone foolish enough to ignore the serial business failures of CEO and Dragon’s Den star Piers Linney (see HERE) is already almost 25% down. Anyone who backed the IPO in May 2013 has – after 16 months now lost 86% of their money. Way to go Piers, worse is to come. This will be your biggest failure yet – although it faces serial competition.

What Should you Do about Challenger Bank TSB?

Published 1714 days ago

TSB (TSB) shares are trading at 278p offering a dividend yield of 0% and a PE which is hard to determine; perhaps it is around 12. TSB is relatively well known as a banking brand, previously having been part of Lloyds. It is a UK focused bank, providing services to both businesses and individuals. Buy, sell or hold? 

Quindell Red Flag of the Day: Now let’s turn to Utility Supplier Services Limited and Lawyer Mark Hepworth

Published 1739 days ago

Quindell (QPP) Bulletin Board morons it is me again. I have been looking at another of Quindell subsidiary and it begs a few questions for you but also for the Southampton based law firm of Blake Lapthorn and Mark Hepworth a partner there. It’s another Red Flag day for Quindell.

JUST EAT plc – up on interims, but should investors be hungry for the shares?

Published 1741 days ago

Shares in JUST EAT plc (JE.), which describes itself as “the world's largest online & mobile marketplace for takeaway… (which) connects 6.9 million active users to over 40,000 takeaway restaurants in 13 countries” have moved more than 9% higher, to a current 240p, on the back of results for the first half of 2014. The outlook is that “July's results continue to show significant year on year growth and we are confident that this momentum will be maintained”. With the shares having reached more than 290p following the April IPO, I now wonder how greedy the current share price is?

The Sale of Sexy Lingerie outfit Agent Provocateur – what it tells you

Published 1752 days ago

In 2007 venture capitalist 3i bought a then struggling designer and retailer of sexy lingerie Agent Provocateur for £60 million. It is now trying to sell the outfit for £200 million and has hired banks to find a sucker, sorry purchaser.  At this stage an IPO is not planned but none the less this sale is crackers. Well at least the price tag is.

Alex cartoon From Daily Telegraph on IPOs - Superb

Published 1753 days ago

Since the Daily Telegraph lifts our articles without attribution (well that silly cow Harriet Denys anyway) we feel no qualms about this trivial lifting on the subject of IPOs. The Alex cartoon is 100% bang on the money.

Piers Linney of Dragon’s Den – you have 38 hours left to deliver the bad news on Outsourcery: A Reminder…Tick Tock

Published 1755 days ago

Dear Piers. On 27th June you promised the poor shareholders in your POS AIM listed Company Outsourcery (OUT) that you would update them on how you were going to refinance this POS enterprise during July. Of course a promise from you is worth jackshit. I refer to your IPO prospectus of May 2013…

Dragon’s Den Star Piers Linney – A career of business failure revealed and the sham projection of his Outsourcery flotation

Published 1758 days ago

There is a new star on Dragon’s Den, Piers Linney. Yesterday I revealed HERE how his Outsourcery (OUT) firm on AIM is in very real danger of going tits up just 14 months after listing. But Piers is no stranger to business failure. The BBC thinks he is a Dragon with the Midas touch. Au contraire. Today I reveal the full extent of his career of business trainwrecks and the sham projections of the Outsourcery IPO.

Vin Murria leads the tech stars on video – watch her sparkle!

Published 1785 days ago

Vin Murria of Advanced Computer Software (ASW) is rightly regarded as the Queen of UK Tech and headed up the all star panel in our tech session at UK Investor 2014. Listen to her sage words before you consider investing in the next loss making, high flying, tech IPO. She is on blistering form in this video.

Be Careful with Private IPO's - It's Your Money They're After.

Published 1785 days ago

Hello Share Fans: I'm a great fan of government-led initial public offerings. This is when a Whitehall set-up like the Royal Mail (RMG) decides to sell shares to the public for the first time. Obviously, the Royal Mail offering was a success. They pitched the price of the shares too low. But wouldn't you, if you wanted to grab some money from the man and woman in the street to shore up the Treasury?

I Told You TSB Was Worth Stagging Didn't I?

Published 1794 days ago

​Hello Share Mates: It's gratifying to find that my view expressed on this magnificent website that it was worth stagging TSB shares turns out to be on the button.

The Big TSB Offer Closes Today – This Is Why I'm In.

Published 1798 days ago

Hello Share Pushers: The TSB offer closes this afternoon. I have put my application in and so has my wife.

MySale Group – IPO a warning of what is to come?

Published 1798 days ago

The IPO of MySale Group (MYSL) has not been the return to the stock market Sir Philip Green would have hoped for – the shares hitting a low of £1.66 and closing their first day of trading on AIM down more than 7% at £2.10 after the company had to clarify that its “trading currency is currently in GBP, as opposed to British pence as intended. The quote will be changed to British pence tomorrow Tuesday 17 June 8am”. The following reviews a company a Green investment vehicle took a 25% stake in in May.

Hunter Resources – IPO: what does it tell us?

Published 1805 days ago

Investors in gold stocks have taken a monumental beating for almost three years. As such the IPO of Hunter Resources (planned for July 1) on AIM merits a brief comment.

Financial Video Postcard #36 – IPO and property bubbles ahoy

Published 1806 days ago

Tom Winnifrith moves to his back garden underneath the fig tree to record a video postcard on bubbles: The IPO market and residential property.

Hurricane Energy Looks Very Undervalued

Published 1809 days ago

Hurricane Energy (HUR) looks to have huge potential and has already had two large oil strikes off of the UK

On the AIM Cesspit Kennedy Ventures – the Great Bison Energy joke: when’s the cash call?

Published 2182 days ago

Once upon a time there was a company called Managed Support Services PLC which was listed on the AIM Cesspit. It went tits up. Well almost. Its operations were sold but the shell remained intact with a few liabilities and a tiny but of cash. It became Kennedy Ventures (KENV), an investing company, and it shows the idiocy and unsustainability of this whole AIM game.

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