Published 48 days ago
Hello Share Mashers. It’s going to be a scary end to the week. What if Labour gets in? The Big City won’t like that and shares will dive heavily. But that will be a short-lived shocker, in my view. Because Jezzer in power will cause the pound to fall even lower. And that more than anything is keeping the Footsie at record highs.
Published 52 days ago
After hours on Friday Fusionex (FXI) a company from the Norfolk province of Malaysia announced that it was planning to delist from the AIM casino. This has always been a "wrongun" and myself, Lucian Miers and the great Kevin Ashton warned you many times to sell - over the weekend I listed 11 red flags the City crony capitalists were happy to ignore. Today the shares have crashed 64% to just 46p and the rats have started to abandon ship.
Published 54 days ago
At 5.30 PM on the Friday before the bank holiday, no-one is watching O'Clock, Fusionex (FXI) said that it was to delist from AIM. The shares closed the day off 2p at 129p but will absolutely crater Tuesday as this stinks as we have warned you so many times - as you can see HERE. Once again we are vindicated and the City pump & promote machine must hang its head in shame.
Published 63 days ago
AIM-listed Frontera (FRR) has rather slipped since I last wrote about it last month HERE and HERE, concluding that it had a gaping black hole in its balance sheet. The shares were then trading at around 0.4p. This afternoon the shares are 0.31p in the middle (last seen) and it has announced its AGM. Just one thing: where are the full year results? The company is trying to raise c. £40 million in cash and loan settlements, and won’t show us the balance sheet? How big a RED FLAG do you want?
Published 68 days ago
Marcus Stuttard, head of AIM and the oxymorons of AIM Regulation, had a specially selected and beautifully diversified portfolio of AIM stocks chosen by ShareProphets back at the end of last September so that he could demonstrate his faith in the regulatory set-up of the market he runs. Naturally, there was nothing at all wrong with any of the companies picked: they were all trading on the Casino as normal, so we were just plain wrong to be Red Flagging them all for one reason or another. We were just so, so wrong that……
Published 96 days ago
Obviously the world’s most successful growth market is tightly regulated and supervised by Marcus Stuttard’s oxymorons of AIM Regulation, who seem incapable of applying their own rules. That is why we selected a beautifully diversified portfolio of stocks which we have Red Flagged here on ShareProphets but since Mr Stuttard’s well-oiled regulatory machinery is just so good there must be nothing wrong. Nothing at all…..which is why after 200 days the portfolio is down by 55%. Oops.
Published 103 days ago
I think I should rename Deputy Sheriff Towers as Smug Towers. Having offered two sells in the ShareProphets Tipfest for this year, Igas Energy (IGAS) duly crashed to bottom out at 4.5p (I’d been saying sell from 18.5p - last year’s Christmas tipfest, and then 11.625p this year). Last week came the turn of Filthy Forty play Taihua (TAIH) to do the decent thing and collapse in the wake of an entirely squeaky clean suggestion that it delist from the Casino. There’s nothing wrong here at all – move along please, nothing to see……
Published 113 days ago
AIM-listed Milestone Group (MSG) has released an AGM statement – but it is not the voting result, it is the Chairman’s statement – to be delivered by Deborah White, who is (corporate governance Red Flag) also CEO. Of course, some of us think that there should have been a change at the helm some while back in the midst of the non-arrival of placing funds scandal which the company was, to say the least, tardy about ‘fessing up to.
Published 123 days ago
Marcus Stuttard, as head of AIM, completely trusts and supports the regulatory framework of the world’s most successful growth market. As such, and ever keen to help, ShareProphets put together a beautifully diversified portfolio of AIM-listed stocks for him, so that he could demonstrate his faith in the system he oversees by investing in stocks which we have Red Flagged. How better than to put his money where his mouth is to show us that there is nothing wrong. Last time I revisited the portfolio it was down by some 23%. If that had Mr Stuttard feeling a bit queasy, he had better look away now….
Published 127 days ago
ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) updated the market on trading for FY2016. The company reported a profit at the interim stage and continued to perform well in the second half of 2016 with revenue (subject to audit) expected to be up to about RMB 72 million. There are also contracts announced totalling about RMB 80 million expected to see project completion in Q3 of this year. So all is going swimmingly – except that the company has raised more money. Clearly the profits are not turning into cash. Why?
Published 130 days ago
Back in August I suggested that Mayair Group (MAYA), which purports to provide clean air solutions in China might not be so different from other AIM listed China plays.
Published 143 days ago
ShareProphets AIM-China Filthy Forty carcass number 24 was taken away from Paternoster (death) Row last night in the form of Jiasen International (JSI). But yesterday the race to become number 25 hotted up as Asian Citrus Holdings (ACHL) gave an update on the lack of progress made in resolving allegations of fraud which its auditor wants to look in to before signing off overdue accounts. With four weeks to go before a one-way trip to the lethal injection room is triggered by reaching the maximum six month suspension period, progress in resolving matters seems to have been non-existent.
Published 146 days ago
5.34pm on a Friday – truly no-one-is-watching o’clock – and up pops an RNS from NEX- (the lobster-pot formerly known as ISDX) listed MiLoc Group Limited (ML.P) detailing the dealings of a NED in the company’s shares: he pledged a bunch of shares in return for a loan back in September and has now released the stock to the lender. Sound familiar? Are we thinking Equities First? So where is the RNS from September? And then there are the other companies on that NED’s CV – which include AIM-China Filthy Forty plays Jiasen (JSI), delisting on Tuesday, and already delisted (no accounts) LED Holdings (LED) as well as PAQ International (PAQ) which quietly disappeared from the Casino back in 2010.
Published 151 days ago
ShareProphets has Red Flagged quite a few companies on AIM, but as we all know there is no problem of fraud on the world’s most successful growth market. This is why we created a diversified portfolio of Casino stocks for AIM head honcho and Sham Sheriff, Mr Marcus Stuttard, to invest his own cash and thereby demonstrate his complete faith in his team of oxymorons at AIM Regulation. With the portfolio heading towards the end of its fifth month, here is the latest update – and it is not a pretty sight.
Published 155 days ago
I think Tom Winnifrith missed a cracking entry for his Dirty Dozen AIM-listed resource stocks whose share prices might head north for no good reason. Certainly, the history of Frontera (FRR) suggests so from its share price performance over the years. Plenty of Red Flags to look at here! This morning the shares are indeed on the rampage (up 168% last seen) in the wake of a board appointment RNS. As we shall see, there seems to be little reason to celebrate that, and with one “know of no reason” RNS already issued this week, I fancy another is on the way.
Published 161 days ago
By pure accident of timing AIM-listed China play Grand Group (GIPO) missed the cut-off for inclusion in the ShareProphets AIM-China Filthy Forty. But it is littered with Red Flags and with the shares having collapsed from just shy of 60p a pop after a lack-of-accounts-induced suspension was lifted at the end of December to yesterday’s close at just 14.75p those Red Flags are fluttering brightly in the wind on the world’s most successful growth market.
Published 172 days ago
Did it jump or was it pushed? ShareProphets AIM-China Filthy Forty posterboy Jiasen (JSI), one of the Fujian four, has announced this morning that it is proposing to delist from AIM and move instead to NEX (the lobster-pot formerly known as ISDX) - just when we thought that the race to AIM departure #24 from the Filthy Forty was down to a two-horse race between Asian Citrus (ACHL)and MoneySwap (SWAP). Jiasen also announced the departure of a NED with effect from the end of February.
Published 199 days ago
Mast Capital the US hedge fund has been the biggest supporter of drowning in debt Avanti Communications (AVN), time and again doubling down on its disastrous investments. But have you noticed this?
Published 201 days ago
ShareProphets AIM-China Filthy Forty play Taihua (TAIH) is, in my view, a screaming sell in view of the Red Flags highlighted on this site for months. I doubt very much whether a short position is possible with this stock, but if I were a holder I’d be running for the hills.
Published 204 days ago
112 minutes after the stockmarket closed on the Friday before Christmas Avanti Communications (AVN) published a red flag strewn annual report. I have already raised one mighty red flag HERE and more will follow. But now just consider how the bombastic prick of a CEO David Williams was rewarded so handsomely for failure. Shares in Avanti are just 23p today. They were c£8 when Williams sold millions of quid worth of shares as he ramped away after the launch of Hylas 1 back in 2011.
Published 216 days ago
I start with the kerfuffle over Aiden Earley of Worthington (WRN) infamy. I described earlier how he has libelled me but is threatening me with legal action. He has lost the plot and I am now talking to my lawyer about dealing with this irritant proactively as I explain in the podcast. Then I discuss why it is better to travel than to arrive and a Red Flag that links Sefton (SER) and Cloudtag (CTAG)
Published 241 days ago
With Cloudtag (CTAG) now reliant on death spiral funding it is engaged in a desperate battle to create retail demand for its shares in order to soak up the wall of death spiral selling. The announcement of clear non events is a sign of that panic. And so meet Mr He.
Published 242 days ago
Oh dear, oh dear, the problem with frauds is that eventually they run out of other people's money. And when they can't pay the bills, even morally bankrupt crony capitalist AIM advisers, decide that enough is enough and quit. And thus Cantor Fitzgerald has today said it is resigning as Nomad to the fraud African Potash (AFPO) - which is still not suing me for libel despite promising to do so on September 1st if I did not cease calling it a fraud and pay it £2,000. GOTCHA Potash: you are still a fucking FRAUD now where's that libel letter you bastards? I want to see you fraudster bitchez in Court so badly. So what's going on here. One broker summed it up brilliantly today:
Published 264 days ago
Management Resource Solutions (MRS) has been a stock much ramped by the usual suspects and its shares have flown until last Thursday when they were suspended pending clarification of its financial position. The next day the CEO and founder was fired. But we can reveal that the CEO Paul Morffew claims this is a stitch up and, as a 20% shareholder is prepared to fight back. This has the potential to be another major AIM scandal given that it was less than two months ago that £2.8 million was raised at 10.5p. Nomad and co broker Northland is refusing to answer calls and its position now looks untenable.
Published 264 days ago
I owe every single reader of ShareProphets an apology. I mean this most sincerely and am deeply repentant for I have sinned. I hope that old father Stacey will this weekend pray for my soul and I ask each one of you for forgiveness. So here goes...
Published 288 days ago
This morning's article on Cloudtag (CTAG) should be yet another red flag and Lucian and I should served up one more soonish. Just how many red flags to the morons need to see? I ask this after a fellow asks me what he should do about his collapsing investment in TrakM8 (TRAK). Answer you should have listened to me when the shares were double today's price! I also look at Impact Holdings (IHUK) and then offer warnings about Blur (DOG), Rosslyn Data (RDT), Strat Aero (AERO) where, in all three cases, I'm sure it is placing ahoy and I explain why. And I look at why the Footsie is heading through 7,000 and where next.
Published 294 days ago
If Marcus Stuttard, the Sham Sheriff of AIM, really believes that the Casino is properly regulated, we think he should put some of his own money where his complacent mouth is by investing in a portfolio of companies which would demonstrate his confidence in his team of Oxymorons at AIM Regulation. We are such nice guys here at ShareProphets that we have helpfully compiled a beautifully diversified portfolio for him. We, ahem, AIM to please.
Published 301 days ago
ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued a notice of results RNS on Wednesday, telling us that its interims to June 2016 will be released on reporting deadline day of Sept 30th. But the statement also had a massaging down of expectations slipped into it. Oh, alright, let’s call it a profit warning – but how bad?
Published 314 days ago
I start with an update on the baby, the frigging cot and that smug bitch on the internet. Then it is onto Optibiotix (OPTI), Minoan (MIN), Nighthawk (HAWK), Strat Aero, (AERO), Botswana Diamonds (BOD), a grammar lesson for the City's top oil analyst and finally a new golden rule for shares: the inverse relationship between the number of homophobic lunatics on a shareholder list and the long term prospects of a company. I refer of course to, drowning in red flags, Cloudtag (CTAG)
Published 357 days ago
Oh dear, oh dear, oh dear. Things are starting to terminal for AIM-listed Galasys (GLS). With the boardroom already at war with itself and dragging the dispute into English, Jersey and Singapore court-rooms and with qualified accounts released for FY15 now we learn that Computershare has terminated its services as company secretary and provider of the registered office.
Published 366 days ago
Oh dear. One of the traits of the China Frauds is that so often the precursor to the wheels coming off the subterfuge is the resignation of the finance director. And so this morning’s announcement from ShareProphets AIM-China Filthy Forty play Haike Chemical (HAIK) that its Chief Financial Officer stepped down on Monday with immediate effect “for personal reasons” is a stand-out Red Flag. So is the tardy announcement.
Published 371 days ago
The clock is ticking for ShareProphets AIM-China Filthy Forty play LED International Holdings (LED). Actually, the clock ran down to zero last month but still AIM Rule 41 has not been invoked. AIM Regulation is well aware of the situation and has elected to do nothing: the chocolate teapots appear to be happy to flout their own rulebook in blatant fashion.
Published 378 days ago
I would expect the collapse in the Avanti Communications (AVN) share price to continue. You cannot say this site did not warn you. In this bonus bearcast I run through 14 red flags which apply to Avanti and which I managed to jot down in less than ten minutes. Drat! I missed an obvious 15th: the promise to move from AIM to the Main Market. It did not happen. Companies that promise the jump but don't make it (think Quindell) are always red flagged.
Published 384 days ago
Having traded as high as 6.25p just six weeks ago, shares in ShareProphets AIM-China Filthy Forty Jiasen International (JSI) have collapsed down to just 3p after it scraped over the line to release its calendar FY15 numbers on deadline day yesterday. The numbers are, of course, wonderful…which is why the company which is drowning in Red Flags (oops) cash has cancelled the full year dividend.
Published 393 days ago
ShareProphets AIM-China Filthy Forty play LED Holdings (LED) has finally got around to releasing its full year results to June of last year. They are audited numbers, but the Red Flags in the audit report are so shocking that surely the Nomad to this company, Allenby, has to resign on the spot. Is it really good enough for an AIM-listed company to produce numbers against which the auditor issues a disclaimer of opinion?
Published 400 days ago
Falcon Acquisitions (FAL), the sister company to dog with fleas Challenger Acquistions (CHAL) has today announced it has raised £163,000 at 20p. The question is why?
Published 403 days ago
Kung Min Lin is the former chairman of ShareProphets AIM-China Filthy Forty MoneySwap (SWAP) and PCG Entertainment (PCGE) – having stepped down from both in the last six months or so. We have been taking a look at the history of Sportswinbet (SWB) which joined the Casino in 2005 – with Kung Min Lin as Exec Director – which went on to become Power Capital Global (PCGB), with Kung Min Lin moving up to the role of Chairman. The history of both is riddled with related party transactions involving his brother, Heng Jui Lin, and his Kolarmy vehicle, and things came to a sorry end last December. Continuing with Cynical Bear’s football theme (it is, after all, the Euros!), it is time for the post-match analysis.
Published 407 days ago
ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) has seen its shares heading higher in the last few sessions on the back of expectations of contract developments in Zambia. It is all still yet to be confirmed, of course, and in any case the mooted deal seems a tad incestuous to me. Oh, and it involves an Investment and Protection Agreement (IPPA) – whatever that may be (but I fancy that an IPPA is a different thing to a contract!) Well blow me down with a feather: this morning we had a placing announced – at a very healthy 25% discount to yesterday’s close.
Published 408 days ago
International practice of architects, interior designers and engineers, Aukett Swanke (AUK) has announced results for the six months ended 31st March 2016 and is “pleased to report another period of profitability”. The shares are currently down 18%, at 5.125p, in response though. Hmmm…
Published 422 days ago
I have picked up LightwaveRF (LWRF) before for the way that it mangles the English language in its statements. It makes Chris Oil look like John Le Carre. Back in July 2015 I took its language mangling as an intent to gloss over the grim reality and said it was a Red Flag The shares have duly collapsed from 38p to 15p and today it serves up another RNS which is misleading. It is bullshit.
Published 441 days ago
Despite being part of the ShareProphets AIM-China Filthy Forty, Walcom (WALG) has rather slipped under the radar. Our apologies for this oversight are due. Yesterday the company released FY15 results. I have no idea what the company does, but the numbers presented seem to raise rather a lot of Red Flags. But are they fluttering for the company or for the Sham Sheriff and head of the oxymorons at AIM Regulation, Mr Marcus Stuttard?
Published 453 days ago
Will the birth of Prince be celebrated in two hundred years or his death in 400. I start with a reflection on a chat with my father. Then it is onto the first red flag at African Potash (AFPO) and why folks should have run a mile back then. Finally I point out after today's bombshell why folks are looking at valuing all the Horse Hill stocks, but especially UK Oil & Gas (UKOG) in just the wrong way altogether.
Published 455 days ago
It will come as no surprise to readers of ShareProphets that main market listed Goldenport Holdings (GPRT) is to leave the LSE, as announced this morning. Shareholders are set to lose everything just as predicted (see HERE, HERE, HERE and HERE) but amazingly the shares are still trading pro tem. You can still get your bad of crisps….or perhaps just a couple of penny chews, for the shares have collapsed (so far) by 70% today, to 1.5p mid. So there is another 1.5p to go….
Published 459 days ago
For the November issue of the UK Investor magazine (latest issue HERE) I was asked to name seven stocks which could get suspended and where shareholders could lose everything. I thought I’d take a look back over the seven: Jiasen (JSI), JQW (JQW), Auhua (ACE), MoneySwap (SWAP), Rurelec (RUR), Golden Saint (GSR) - all on AIM - and main market listed Kenmare (KMR).
Published 464 days ago
I have been very critical of AIM-listed Cloudbuy (CBUY) of late, but in fairness there is much to praise after the company published on its website all the documentation in relation to the funding package announced with Mr Sella on 24 March 2016. It is a model of transparency, and the answers to my questions (HERE) are all to be found. The paperwork is HERE. Other AIM-listed companies should take note.
Published 476 days ago
Just in case anyone missed it, AIM-listed (but suspended since 20 Nov 2015) Renewable Energy Holdings (REH) has announced that it is going into wind-up proceedings. A Red Flag at Night, then.
Published 482 days ago
Thursday afternoon saw a packed RNS released by beleaguered AIM-listed Cloudbuy (CBUY) detailing all manner of news – far too much to cover in one article. I suppose that you can’t quite describe 3.32pm as no-one-is-watching o’clock, although it was less than an hour before the city knocked off for the Easter recess and one might imagine that most were packing their bags by then. Let’s start with the options.
Published 482 days ago
Fully listed Urban and Civic (UANC) has announced a series of board changes. It looks like a pretty comprehensive round of musical chairs and from a corporate governance point of view it is good to see the role of CEO and Chairman being split. But a spot of PR spin caught my eye which sticks in the craw, as the shadow of Mr Robert Adair’s dealings with Equities First Holdings LLC is cast.
Published 522 days ago
Shares in fully listed Telecom Plus (TEP) seem to have fallen off a bit a cliff over the last few weeks. I’ve not seen anything terrible in the way of RNSs to explain it and although falls in the wider market would contribute to weakness a 20% drop seems hefty. But I did turn up something at Companies House which I think the company should explain.
Published 523 days ago
On Dec 14th last year I pointed out that if Toscafund and its partner Penta Capital were still happy with their madcap €104 million valuation for Akazoo, the music streaming business they bought in to last year, they could buy out the whole of InternetQ (INTQ), their majority partners, for less than half of that amount and still have the rest of its business thrown in for free.
Published 528 days ago
African Potash (AFPO) was on a crazy valuation prior to today but has just run a red flag up the mastpole which must make any sane investor on this planet (and perhaps even some of its deranged groupies on the LSE Asylum) run for the hills.
Published 529 days ago
On Monday 8 February it will be Chinese New Year so why not celebrate. Shareprophets has analysed investment companies and Chinese companies, now AIM listed Grand Group Investment PLC (GIPO) which is an equity investment business specialising in high growth unlisted Chinese companies coms - with a reader hat tip - into the spotlight.
Published 549 days ago
Just three weeks ago, during the no-one-is-watching fortnight of Christmas and New Year, ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) completed a keep-the-lights-on placing in what I wondered was the fastest pump and dump in history. It was, in my view, a disgraceful affair: announce what appears to be a significant contract to send the shares rocketing higher (it did) and then 39 minutes later announce a massively discounted placing into the rise. The grateful company brought in some meter money (just £200,000 before expenses) but the new shares issued represented 3.28% of the enlarged capital. Surely that is a notifiable holding?
Published 549 days ago
Begbies Traynor (BEG) has updated on research (which chimes with our current view) of “a difficult 2016” ahead for UK companies. This follows the ‘Red Flag Alert research’ of this, the UK's leading independent insolvency firm, showing businesses ending 2015 in a challenging financial state and noting a difficult combination of factors for 2016.
Published 557 days ago
The Naibu (NBU) Neds have now admitted my fraudbusting was spot on (HERE), The FRC has thanked me for alerting it to Quindell (QPP) frauds (HERE) and so 2015 was a great year of Red Flag spotting for me. Earlier in the year year I published an ebook, dedicated to fraudster Robert Simon Terry, flagging up some of what I look for in Companies that commit FRAUD - "49 Red Flags". If you would like a free copy sent to you today just fill in the form below.
Published 561 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)
Published 561 days ago
AIM-listed Inspirit Energy Holdings plc (INSP) has confirmed that its change of auditor was due to the resignation of PKF Littlejohn. There is a statement in FY15 accounts that the auditor was appointed during the year following the resignation of PKF Littlejohn LLP. But that means that PKF resigned during the year to way back in June 2015. When an auditor resigns there is supposed to be a filing to Companies House to that effect, with an accompanying letter from the retiring auditor giving the circumstances relating to the resignation, or a statement that there is nothing to be brought to the attention of the members or creditors of the company. Those are supposed to be filed to Companies House within fourteen days. Here we are more than six months later: where are they?
Published 579 days ago
There’s trouble at t’mill. AIM-listed Galasys (GLS) is turning into something of a soap-opera as boardroom infighting has spilled into the public arena. Quite what happens next remains to be seen, but as things stand shareholders cannot be certain who is actually running the company. According to AIM, Galasys’ country of operation is China. It is a holding company registered in Jersey, with its main assets rolled up into a BVI vehicle.
Published 585 days ago
Jason Drummond and I first met in the dotcom boom when investors backing him made money. We reflect in this presentation on then & now and on all the warning signs we look for in tech stocks. The tech red flag list.
Published 603 days ago
In a pompous sort of way as if he we running a FTSE 100 company not a piss poor, going bust, AIM Casino disaster story like Outsourcery (OUT), Dragon’s Den flop and serial business failure Piers Linney today announced a change of auditor. That Piers, my boy, is not the issue is it?
Published 609 days ago
Two RNSs in two days from AIM-listed China Nonferrous Gold (CNG) reveal that Non-Exec Director Abuali Ismatov has been selling down his holding in the company. With the company having announced the successful commissioning of its processing plant at the Pakrut gold project in Tajikistan, along with the commencement of trial production back on October 1 2015 this hardly represents a massive vote of confidence.
Published 624 days ago
On today's podcast I start with a couple of risers: Berkeley Energy (BKY) - where's my apology Brokerman Dan? And Optibiotix (OPTI) - you know I am not totally useless at long tips. Then onto the losers: Galasys (GLS), TyraTech (TYR), Northern Petroleum (NOP). Then it is Golden Saint Resources (GSR) where I also try to help out hapless compliance officer the Northern Slum refugee Richard "Gollum" Gill by explaining the rules about a financial promotion. I missed out FastJet (FJET) - down on weak passenger data, can anyone remember anyone involved in its IPO who might be a red flag? Then I turn my attention to David Lenigas, the boiler room and Inspirit (INSP).
Published 645 days ago
From 4.75p before a 12th October results announcement, shares in Mobile Streams (MOS) closed at 17.375p yesterday. Today the company has announced a number of amendments to the 12th October “Audited Final Results” announcement…
Published 647 days ago
Following trading update disappointment from AIM-listed Regenersis plc a few months ago, I noted that it suggested the value of checking our such short positions updates – with there continuously having been a disclosed short position in Regenersis since November. Since August there has been such a position in Telit (TCM) and now…
Published 658 days ago
AIM Casino China play Vmoto (VMT) has served up yet another red flag with an announcement that it has issued a shed load of shares to various parties. Vmoto claims to be drowning in cash but as I pointed out HERE its balance sheet is actually very weak. So today it announced:
Published 665 days ago
Dear readers…time for another confession. I may have over the last few months enjoyed shopping at my local 99p Store snaffling a bargain or ten (£9.91 worth!) of relatively near-date cereal, biscuits and chocolate not to mention various household goods.
Published 666 days ago
Issuing interims at no-one-is-watching o’clock this evening (at 5.11pm) is AIM-listed Ultima Networks (UTN). A few hum drum bits and pieces – turnover down about 10% and not a lot of cash in the bank didn’t make particularly happy reading. But surely not bad enough to slip out the statement after-hours, was it?
Published 668 days ago
Words fail to convey the contempt with which I read yesterday's after-hours interims statement issued by AIM Cesspit poster boy Golden Saint Resources (GSR) - a company that is almost certainly insolvent, numbers don't lie. It almost matches the contempt with which the management of this POS treats its own shareholders.
Published 673 days ago
On 10th September Rob Terry and his Quob Park Estate vehicle took their shareholding in Imaginatik plc (IMTK) up to more than 14% and, based on his track record, it is not a surprise to see the shares currently on biggest fallers lists – down approaching 13% presently today to 6.75p. This follows the company’s announcement of a “Director Loan”…
Published 679 days ago
AIM-listed Univision Engineering Limited (UVEL) issued its full year results for the year to the end of Mar 2015 at no-one-is-watching o’clock, 5.33pm last night. That is enough of a Red Flag already, but given the recent focus of this website on AIM-China set-ups, I see that this company is registered in Hong Kong. Oh dear….
Published 679 days ago
As indicated HERE in Tom Winnifrith’s comic snipe at the unfolding Greek Tragedy that is AIM-listed (for now) Sefton Resources (SER), things are getting serious. Very serious. Shareholders, however small their holdings may be, have a decision to make and a vote to cast. Get it wrong or ignore it and it could be a total wipe-out. Here is why.
Published 679 days ago
One of the problems that AIM-listed China stocks have at the moment is that nobody believes them. Nobody believes the claimed cash-piles or profits. This is amply demonstrated by the stock-market histoire of Aquatic Foods (AFG), a member of the ShareProphets AIM-China Filthy Forty. To remind you, it listed in just February of this year at 70p per share, to give it a market capitalisation of £79.3 million. Yet the shares fell steadily to the current 29p. Today saw Interims to the end of June 2015. Scratch the surface, and the Red Flags are all too apparent.
Published 691 days ago
A bank holiday weekend: what better time is there than 6.29pm on Friday night to slip out bad news?! And so we come to fully listed Goldenport Holdings Inc (GPRT) which did exactly that, in the form of its interims. But it was not just that this came at no-one-is-watching o’clock, there were a few other matters which anyone holding this stock might want to pay attention to – if they are not blinded by subterfuge.
Published 692 days ago
I arrived back in Bristol after a long journey yesterday and opening my post it was just like Monopoly (in a good way). To celebrate I look at the markets in general, comment on Scancell, predict a few no-one is watching O'Clock announcements tonight and then focus on Camkids but epecially JQW which sent out a big China fraud Red Flag today.
Published 693 days ago
ShareProphets AIM-China Filthy Forty member and Jersey-registered Asia Ceramics Holdings (ACHP) recently featured HERE in the wake of its after-hours (and Red Flag riddled) full year 2014 results. What emerged was a large market capitalisation relative to (almost) non-existent earnings. But there was also a long string of related party transactions, and a CEO who appeared to be running businesses in China doing the same thing as Asia Ceramics does…in China. But what catches the eye now is an RNS on Tuesday of this week which describes a very peculiar set of loan agreements between CEO Dr Pu and the company.
Published 714 days ago
Following the acquirer of Quindell's (QPP) 'Professional Services Division', Slater & Gordon (SGH), announcing that it had been notified that the Australian Securities & Investment Commission “intends to raise some queries” and that, having commenced a detailed analysis of the financial information to be provided to the Commission, two errors in the method used to report receipts from customers and payments to suppliers and employees by the UK business had been identified, we again warned on the shares (see HERE). The following updates with them now falling towards $3 following Quindell’s results release and news of a Serious Fraud Office criminal investigation...
Published 719 days ago
ISDX listed Asia Wealth Group Holdings Limited (AWLP) issued THIS RNS on Thursday of this week. Asia Wealth (Orwellian misnomer if ever there was) is a company which is represented by the much tainted Roland “Fatty” Cornish at Beaumont Cornish as Corporate Adviser (the ISDX equivalent of a Nomad for AIM companies). Anyone following the trials and tribulations of AIM’s worst Nomad (surely even surpassing the valiant efforts of ZAI Corporate Finance for that unsavoury crown) will appreciate that there has been a heavy case-load of self-inflicted disasters and you might have thought that this would persuade a fellow to be just a tad more careful. Not a bit of it - over to the ShareProphets RNS Translation Service (original in bold):
Published 734 days ago
Quite how a house builder manages to lose money in the current environment is a mystery to me. For the second consecutive year, £1.8 million market cap AIM tiddler Trafalgar New Homes plc (TRAF) has done just that, reporting a doubled £620,000 loss for the year (0.26p per share, a third of the bid price) to 31 Mar 2015 at no-one-is-watching o’clock on Friday (at 5.23pm). The ShareProphets RNS Translation Service has had a field day with the Chairman’s statement. Original in Bold.
Published 746 days ago
On Friday before the Greek referendum Syntagma square was awash with blue and white Greek flags and white Oxi flags. This was not about party politics, Alex Tsipras and Syriza wanted you to vote Oxi as it was your patriotic call. I happen to agree with that. Pro tem all Greeks could put party aside and vote Oxi to vote for Greece. Last night something odd happened after the polls closed: Oxi turned from blue to red.
Published 747 days ago
At the very death of Friday trading (4.29pm to be precise) ISDX-listed Etaireia Investments plc (ETIP) made the following announcement:
Published 763 days ago
Having earlier this month announced that in the first quarter of 2015 its “net cash position increased to €41.2 million (31 December 2014: €40.4 million)”, Globo plc (GBO) has now announced that “it will be conducting a series of investor meetings in the US and UK commencing on 19 June 2015 in relation to a potential issue of senior secured high yield notes”. Hmmm…
Published 786 days ago
I have some sympathy for the board of Regal Petroleum (RPT) given that its area of operation is in the Ukraine. I sense that they are doing their best to manage the company in the most difficult of situations, but for investors the RNSs released yesterday are very worrying. Cash is trapped in a rapidly depreciating currency and the risks here are massive.
Published 787 days ago
Two after-hours no-one-is-watching o’clock RNSs caught my eye from Friday evening last week. Both look to me to be clear-cut sell signals.
Published 795 days ago
Paid for researcher Edison is paid by companies to produce notes. The hooker never tells her client how small his cock is she just gets on with it and thus Edison is always looking on the bright side. But in its utterly misleading note on Tungsten (TUNG) out today, even the rent-boy of the research world cannot bring itself to say buy. That is a pretty big Red Flag.
Published 798 days ago
It is always worth a gander through the after-hours RNSs to see what is being slipped out when no-one is looking. It is a common way for companies – especially those on the AIM Cesspit – to try to hide bad news from their shareholders. It simply doesn’t work, so why they bother is beyond me. But it is an immediate Red Flag. And that brings me to Rurelec plc (RUR). On Tuesday at 4.30pm – bang on market closing time - it released an RNS entitled ‘Extension of Radix Facility Agreement’. Gosh what an exciting life I lead: I just had to take a look…
Published 801 days ago
At this point I move away from Oscar Wilde, in the case of Camkids (CAMK) to lose 2 NEDs looks like… a fraud unraveling. Last week it was a British NED who walked. Today we hear that Mircle Yap , a Chinese NED, will be leaving after the AGM on June 11.
Published 810 days ago
Two looming scandals on the AIM casino -next week will be New World Oil & Gas (NEW) where it could be an explosive headache for ninth rate Nomad Roland "fatty" Cornish and then Aquatic Foods which the Chronic Investor reckons is a Red Flag free China play. Au contraire.
Published 813 days ago
This is a stonker of an AIM casino disaster – a story of greed, stupidity, investors being misled and, as it’s the AIM casino, of private investors taking an almighty rogering. Meet Arria NLG.
Published 846 days ago
Having warned on this website over a year ago that I would be nervous holding shares in scientific instruments designer and manufacturer Judges (JDG) at a then more than 2200p and reiterated at 1550p a couple of months ago, the following updates with the shares currently having fallen below 1500p today on the back of results for a self-declared “disappointing” 2014 calendar year…
Published 857 days ago
Results from AIM casino listed China Chaintek (CTEK) today are risible. The logistics company is based in fraud central Fujian and is represented by London’s worst Nomad, ZAI Corporate Finance which managed to do full due diligence on the fraud Naibu (NBU) even though its CEO was in jail at the time. Enough Red flags for you? You want more?
Published 868 days ago
AIM-Cesspit listed Mirland (MLD) issued a trading update after-hours at no-one-is-watching O’clock last Friday, 27 Feb (at 4.42pm). Why not just ‘fess up at the usual time of 7am? Ah, it was a big profit warning and it hoped that it would slip under the radar. That’ll be a Red Flag, then.
Published 873 days ago
Managing a company that has run out of cash is hard. You must delay paying bills until the last possible moment, keep the banks happy, try to generate cash however but in the end something cracks. If like Quenron you have net debt and are burning cash, you can stretch your average payment terms out to a disgraceful 122 days (and climbing) but in the end someone you owe money to takes you to court and gets a County Court Judgement (CCJ) against you. For investors this is a massive red flag.
Published 887 days ago
My latest book is dedicated to the fraudster Robert Simon Terry, the founder of Quindell (QPP) and highlights 49 Red Flags, warning signs you should look for before investing in shares. Number 31 is excessive spend on PR and IR. To get your free copy of the whole book sent to you today fill in the form HERE - meanwhile here is No 31
Published 901 days ago
There is a hat tip to my friend the convicted felon turned fraudbuster Sam Antar for Red Flag 25 in my new book 49 Red Flags. To order a free copy of the book to be sent to you today fill in the form HERE
Published 903 days ago
Tom Winnifrith's new book, 49 Red Flags is dedicated to Mr Robert Simon Terry of that fine British Company Quindell (QPP) and it was finally published on Sunday. It is a guide to how to avoid over-promoted and fraudulent companies on AIM and the LSE. Order it today for immediate delivery of a FREE copy.
Published 905 days ago
Aussie based AIM casino listed Mosman Oil & Gas (MSMN) shares were at one stage last year ramped up to 45p on the back of some fairly “aggressive” claims about drilling success. They are now just 4.875p after interim results beg the question of whether this business is insolvent yet?
Published 906 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
Published 920 days ago
I end with Quindell and an open challenge to Mr Jim Sutcliffe regarding the 100% fraudulent 2011 accounts. Let's see if he really wants to draw a line in the sand or if he is just in it for the grubby money. Elsewhere I look at Shaft Sinkers, Rapid Cloud - a case study in Red Flag accounts -, Lamprell and Northbridge Industrial.
Published 940 days ago
Range Resources (RRL) was telling its stockholders by unofficial channels two years ago that its US assets cou;ld be sold for $150 million funding mammoth share buybacks. Today they were sold for $1.4 million. This Bearcast covers the role of Greg Smith in the range tragedy, questions the value of Range's Trinidad assets, points out how Pete Landau misledinvestors and calls on the FCA to investigate Landau for market abuse and to ban him as a director of AIM Casino listed companies. It covers the legal threats I received from him and the spineless approach of other publishers that caused me to set up ShareProphets.
Published 944 days ago
The prize will be a champagne meal for two at Real Man Pizza Company or something similar as today we launch the new ShareProphets competition which will run throughout 2015. Welcome to AIM Casino Fantasy Football own Goal. The Rules are simple.
Published 956 days ago
All my work since I first used the word Red Flag in April 2013 has been vindicated. My scoops of this weekend on Quindell (QPP) have been shown as true - today's statement is a total disaster for Quenron. Bulletin board morons who abused and threatened me get your sorry arses round to Real Man Pizza today to buy a large pizza and expensive bottle of wine and give my fantastic staff a large tip to say SORRY. The following points stand out:
Published 958 days ago
Earlier this year, Doc Holiday made a sublime call to short Ocado (OCDO). His timing was perfect. No sooner had Doc sounded the death knell for this stock, the share price took a cliff dive. The logic of Doc’s call was deadly simple – “sell the founder”.
Published 961 days ago
Rain delayed play on the olive harvest but is now back underway again but without me for this afternoon as I have business to attend to in Kalamata and you, my dear listeners, to satisfy with the revelation of a NEW China AIM stock capitalised at £88 million which shouts out red flag. I also comment on Forbidden Technology, Tyratech and growth stocks that stumble, on Ortac Resources, Beacon Hill Resources and raise a few points about the fraud souffle that is Quindell
Published 963 days ago
At RMPC we normally pay staff in the last week of the month but in December we will pay my heroic colleagues on the 15th or thereabouts. Nearly all companies pay staff early in the festive month so that they can pay for the vile consumerist event that Christmas has become. I am sure Quindell staff were paid early in 2013 as the company had just completed a £200 million placing. But what about 2014?
Published 964 days ago
The stench of fraud, corruption, lies and deceit at Quenron (QPP) is now obvious to all but the biggest moron. In their desperation the shareholder morons (assisted by Quindell itself) throw ever nastier and more misleading rubbish at the critics, notably me. My response, I am not flinching I fight lies and smears with proof of FRAUD. Let's reveal another scandal at Quenron. This will horrify you. Meet Overland and meet Jason Cale.
Published 964 days ago
I have not looked at a subsidiary account at Quenron (QPP) for a while but just to save the SFO/Administrator some work in due course here’s another one, Isaas Technology Ltd a company bought in March 2013 for £4.5 million in shares. Hmmmm.
Published 968 days ago
Canaccord has not only quit as broker to Quenron (QPP) but it has now withdrawn its forecsats, buy stance and target price. In a note packed with red flag alerts it says its stance is “under review”. As I explained here the other day that means SELL! The note reads:
Published 990 days ago
At the weekend we asked you which of the most worthless POS and in some cases fraudulent stocks on the AIM Casino would be the first to go to 0p or be suspended. It ended up as a three horse race with all three front runners having just one thing in common – the involvement of Daniel Stewart, always a red flag.
Published 1009 days ago
It is abundantly clear that Quenron (QPP) now faces a cash crisis of monumental proportions. I am sure that the FCA is now monitoring its Regulatory capital position with extreme concern. And if you want to know what happens when this becomes an issue have a look at Daniel Stewart HERE. I flagged up earlier today, one way in which Quenron is hiding this time bomb from investors – by delaying salary payments HERE – but the other obvious way is by not paying its bills, something you would not be able to gauge from the cobblers in its trading statement of Monday. But poster TurboMubcher has the data and puts it into context for you in an excellent post:
Published 1016 days ago
Aha, another one of the 191 Quenron (QPP) subsidiaries has published its accounts at Companies House, Quindell Resourcing Ltd, formerly known as Metaskil Ltd. And needless to say the numbers just do not add up.
Published 1022 days ago
Each week we aim to bring you the most illuminating post by a reader on this site which we think merits a wider audience. And the winner this week is Dominic Cooper who brings some added insight into the world of Quenron , following today’s Red Flag Orgy. Mr Cooper writes:
Published 1044 days ago
I flagged up HERE the very curious case of Skillwise and Jonathan Stretton Knowles. But doing some digging this becomes all the more mysterious and smelly. It really stinks even by Quindell (QPP) standards.
Published 1049 days ago
Feel like another red flag for Quindell (QPP)? Here’s the good news I have one for you! Lawyers appointed by the official receiver to LSI (2013) Ltd are now investigating its transactions with Quindell – let’s go back to May 2013.
Published 1049 days ago
Getting the truth out of Quindell (QPP) is like pulling Dragon’s Teeth. But here we go again on Skillwise Consulting, a newly formed company bought by Quindell owned Brand Extensions (run by Mark Ford) for £2.75 million on 1st September 2013. Remember the date.
Published 1058 days ago
Quindell’s (QPP) Interims duly arrived last Thursday and as is so often the case with this company when it attempts to reassure the market, yet more concerns were raised. The share price has now lost all the gains in the run up to the announcement and it would not surprise me if they test the recent 140p low in pretty short order. And the ultimate target is a tiny fraction of that.
Published 1061 days ago
The last time that the vendor of Himex sold a business to a Rob Terry run company it was sold for £50 million. At the same time certain other related businesses were lobbed into the pot and all in all it cost The Innovation Group c£60 million all in goodwill which was all written off within a year. Cosy was a cosy deal for some but not for Rob Terry believers – as explained HERE. Will it be different this time? I now refer you to the 2014 interims from Quindell and the year to March 2013 results for Himex which you can see HERE. Red Flags for lunch anyone?
Published 1061 days ago
Hat tip to poster Dalesider here on ShareProphets.com for alerting us to the fact that the Quindell (QPP) interims throw up another red flag and it concerns the much hyped deal with the RAC. Quindell says it is being restructured, I worry about the missing £15 million and wonder if the deal is in tatters as a result of Quindell’s cash crisis.
Published 1064 days ago
Who was the 41% customer of Quindell in 2011? Was it TMC which had a spare £5.5 million (more than 100% of stated PTP and cashflows) thanks to the Quindell shares it was issued with and flogged? I only ask because of a revelation regarding Quindell flogging shares it issued to itself in today’s interims. That stands out but what about those accruals? Boy oh boy.
Published 1067 days ago
Gosh this is complicated. The Quindell (QPP) relationship with TMC Southern owned by Mark Ford (see HERE and HERE) is incredibly hard to untangle but one thing is clear: the numbers just do not stack up. Annual returns and reports conflict and there is an awful lot of cash which seems to have gone somewhere? Where? Read on…
Published 1067 days ago
This is just a small Red Flag but it is a tad confusing none the less. I refer you to note 21 of the 2011 Annual Report from Quindell (QPP):
Published 1070 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.
Published 1076 days ago
I gather that my first Mark Ford article HERE has had some effect round at the Country Club. Skillwise, the shelf company with no assets bought by Quindell from (I think Mark Ford) for £2.76 million in cash on August 30th 2013 has finally appointed some directors (Rob Terry and Laurence Moose). And it has extended its year end. So I guess some revenues will be put through it and it will not be struck off. But while we are on the subject of Mark Ford, let’s move onto BE Insulation Ltd.
Published 1080 days ago
As I expected the FCA has today rejected my Freedom of Information Request to discover why Quindell failed to make it off the AIM Cesspit and onto the main market. But look at its reasoning. Ooooh er missus…
Published 1087 days ago
This is a truly brilliant spreadsheet from Paul Scott, the person I rate as the UK’s top share blogger and an all-round nice guy to boot. In saying all round this is not a reference to his figure although…. Paul does not write for this site and is fiercely independent in his views but he has graciously allowed me to publish this anyway. And so especially for followers of Quindell (QPP), Globo (GBO), Outsourcery (OUT) and a good few others…
Published 1093 days ago
US Oil & Gas (USOP) once issued an RNS at 10 PM on a Friday – that Liam Mcgrattan is a comic genius. But he serves to demonstrate a valid point: if a company starts issuing RNS statements well after 4.30 PM this is a red flag that you should not be invested. Not a reason on its own but the sort of red flag that catches the eye.
Published 1112 days ago
When a company issues an RNS which is frankly incredible – that is to say unbelievable on the known facts – that should be a massive Red Flag moment. If that company has a long record of missing targets and burning cash and is also drowning in debt then it is a stinking sell. And that brings me to Avanti Communications (AVN) up at 253p after a contract win announced today. Hmmmmm.
Published 1124 days ago
As you know I am thick as two short planks and so I am sure that there is a perfectly reasonable explanation for what appears to be another red flag in the ever growing red flag forest at Quindell (QPP). Perhaps a Bulletin Board moron out there can enlighten me regarding the missing 100 million shares?
Published 1126 days ago
Last week on both this website and my own personal blog www.TomWinnifrith.com I asked you for captions to the picture below. The winner can join me for lunch at Real Man Pizza on me.