Results

Nyota – no-one is watching o’clock update: no Nomad, Peterhouse back in the frame and placing at a “substantial discount” if a Nomad can be found

Published 3 days ago

AIM-listed Nyota Minerals (NYO) announced a company update last night at no-one-is-watching o’clock. The good news is that we were watching, the bad news for anyone left holding the stock is that Peterhouse is planning to “unresign” itself if the company can attract a Nomad before it is kicked off AIM altogether, with a potential placing at a “substantial discount” to last night’s closing price.

i3 Energy - Going down like Christmas lights in January

Published 22 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. 

Paternoster Resources - possibly London's most expensive & worst performing fund manager

Published 39 days ago

There are numerous reasons NOT to own shares in sub scale and underperforming Paternoster Resources (PRS) as I explained at the weekend HERE. But there is a different way of looking at this piece of investment crap.

Paternoster Resources - the Elephant in the valuation room

Published 40 days ago

Yesterday I explained at length HERE why I would not touch Paternoster Resources (PRS) shares with a bargepole - they look cheap in relation to asset value but are not. Indeed I think that the real realisable NAV today is far lower than the last, March 31, stated NAV. Let us just look at an unlisted investment as a case study - Elephant Oil.

Paternoster - at a c50% discount to NAV surely the shares are cheap? er...no

Published 41 days ago

My attention is  drawn to the curious way that Paternoster Resources (PRS) communicates information to its long suffering shareholders and prompted to ask if the shares are as cheap as they look. Of course they are not. 

Tesla Motors – Is it a FANTA stock or is Elon Musk just David Lenigas on steroids?

Published 62 days ago

I was going to have my usual weekend dig at one of the many over-promoted pieces of crap on the lower reaches of AIM but thought instead I should lift up my head and look further afield and take a pop at most over-promoted stock in the global markets with a proper superhero at the helm, namely Tesla Motors (NSDQ: TSLA) and the irrepressible Elon Musk.

Rosslyn Data – why are you hiding the related-party nature of this dog of a deal?

Published 109 days ago

Tom Winnifrith has already covered the hidden bailout placing aspects of the Integritie deal announced by Rosslyn Data (RDT) last week (HERE) but I thought it worth elaborating on the deal (which looks like a real dog) and asking the simple question: why haven’t you told your shareholders about the related-party aspects?

Etaireia Investments: Fattal and Bloom can’t help themselves – another related party deal!

Published 140 days ago

Another property deal from Etaireia Investments (NEX: ETIP) announced yesterday and guess what, it’s yet another related party transaction. As one can see from the various pieces I’ve written on the company HERE, one shouldn’t have expected anything less.

Eden: the Terpenetech fraud starts to unravel, has the first body been quietly buried?

Published 167 days ago

AIM listed Eden Research (EDEN) has been engaging on fraudulent deals with related party company Terpenetech for six years now. The first deal was a sale which Eden booked but Terpenetech never paid for. Who cares, Eden kept that debt as a current asset for 5 years. Sure the auditors should have kicked up a fuss, the Nomad should have objected but this is AIM who cares about fraud! Of course the far bigger £600,000 fraud waited until August 2015. It was a panama pump classic as you can see here - but this is AIM and Nomad & broker ShoreCap wanted to earn big commission do a placing so everyone again turned a blind eye. But now the cover up is falling apart.

Tom Winnifrith Bearcast: possibly the biggest scandal in AIM history to go nuclear this week?

Published 215 days ago

Weekend press reports (not in the UK natch as the British press is ignoring this £2 billion City scandal for reasons one can only imagine) suggest that the FBI is now investigating. Already in France there have been arrests including that of the CEO of Areva - Atomic Anne - which bought AIM & TSX listed Uramin for £2 billion and had written all of its assets off as worthless within three years. There is also a major new investigative book out on the scandal due out on Thursday. I am sure my good friend Jim Mellon will be ordering an advance copy. Elsewhere I look at Vislink (VLK), at the train wreck waiting to happen at Advanced Oncotherapy (AVO), at Fitbug (FITB) and Cloudtag (CTAG) and then finally at SalvarX (SALV) - placing ahoy on this related party express train to planet hype.

Filthy Forty Taihua – rum’n’coke RNS re AIM Rule 26: Bargepole

Published 218 days ago

And so after its website disappeared at least as early as late November last year and two failed efforts at getting a replacement available so as to comply with AIM Rule 26, ShareProphets AIM-China Filthy Forty play Taihua (TAIH) has finally issued some Jackanory of a statement saying it now won’t be complying until Monday next week. The explanation may seem reasonable, but in context they’re ‘avin’ a bubble.

Port Erin - NAV statement - just utter tommyrot from Jim Mellon & Co

Published 218 days ago

Flustered by the shock revelations about Diabetic Boot Company HERE, Jim Mellon's Port Erin (PEBI) published a December 31 NAV. Given that it published full year numbers when no-one was watching on 22 December this whiffs of panic. Unfortunately the statement begs more questions than it answers.

Jim Mellon's Diabetic Boot spoof - is there something FastForward, Port Erin & Life Science should be saying?

Published 220 days ago

Cynical Bear has twice reported back on the great Jim Mellon Diabetic Boot spoof. This is a private company originally backed by Mellon with his own cash but then backed at ever higher valuations by PLCs controlled by Mellon, i.e with other folk's cash. But something happened before Christmas - surely the listed vehicles need to fess up? The spoof is not funny anymore, it is seriously related party unfunny;.

Filthy Forty Taihua – Another letter to AIM Regulation: still no website, still no buy-back, still no update on related party receivables.

Published 221 days ago

ShareProphets Aim-China Filthy Forty play Taihua (TAIH) is having a giraffe. The buy-back announced last August, to be paid for from an Open Offer long since completed hasn’t happened. There has been no update on the matter since the end of September. The accounting matters over related party receivables which the company, in its FY15 Annual Report promised an update on has seen no further comment. The website has disappeared, meaning that the company is in breach of AIM Rule 26 – a matter I raised with AIM Regulation on 29 December last year.

ShareProphets share tips of the year Number 19: Sell Taihua says Nigel Somerville

Published 231 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.

Sell Jim Mellon's Port Erin Biopharma: the facts have changed

Published 232 days ago

I wrote in May of this year that the price of Port Erin Biopharma (PEBI) was trading at a large enough discount to Net Asset Value that it was worth taking a position. At the time, it was trading in the 4-4.5p range; its now at 5.625p in the middle but with a pretty wide spread. But it is time to sell because the facts have changed substantially.

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

Published 246 days ago

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

Filthy Forty – Taihua Interims and two rather large RED FLAGs

Published 322 days ago

Well, all of the remaining ShareProphets AIM-China Filthy Forty got their numbers out yesterday - with the exception, of course, of the now suspended MoneySwap (SWAP) and Asian Citrus (ACHL) whose auditor is taking a rather close look at the bank accounts. The ouzo will have to wait, but the pop-corn went down well anyway. Included in the last-minute Charlies was Taihua (TAIH) and a rather large looking Red Flag is to be found here. Let me explain….

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

Published 326 days ago

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

Core Blimey! Wednesday’s final shareholder liquidation meeting looks set to be a bun-fight

Published 375 days ago

I said at the time of suggesting ordinary shares in Core VCT (CR3) as a share for 2015 that I didn’t like the management, but that fundamentals looked set to deliver a positive return at the then share price. Happily, shareholders have now had a return of cash comfortably in excess of the recommendation price. But….oh, there are plenty of buts. The shareholders’ final liquidation meeting is on Wednesday at 11am, at CCT Venues Plus, Level 32, 40 Bank St, London E14 5NR and it looks set to be a lively affair.

Dynamite: Highlands Natural Resources: Tell us all about Mendell Energy Technologies LLC

Published 419 days ago

The excitement which caused the Bulletin Board Morons to cream themselves as they bought shares in Highlands (HNR) at a mammoth premium to NAV was caused by speculation about the DT Ultravert deal. Perhaps it is time for a history lesson. Kerboom!

Is newly Casino-listed SDX Energy already a Bargepole?

Published 456 days ago

This morning it was announced that SDX Energy Inc (SDX) had joined the AIM Casino, to add to its TSX-V listing in Canada. Welcome to the mad-house. But reading through the admission and first day of dealings RNS a few things jump out at me. I wonder if it is already one to be avoided like the plague.

Goldenport – last chance for the bag of Walkers, it is shipwreck ahoy!

Published 456 days ago

On 22 April 2016 fully listed Goldenport Holdings (GPRT) announced its intention to delist from the London Stock Exchange, stating that the last day of dealings was expected to be 23 May 2016 – Monday of next week. But, as discussed previously, following the disposal of its shipping fleet (in a series of related party deals, all approved by shareholders) it seems clear that there will be nothing left for shareholders at all. 

Valiant Investments – a Conrad Windham dog with fleas on ISDX keeps the lights on

Published 462 days ago

Another dog investment company being featured on ShareProphets? Yes indeed – this time one from the ISDX stable – we bring you Valiant Investments (VALP), under the stewardship of serial disaster (for his shareholders) Mr Conrad Windham.

Sound Energy - The Truth is this (junk) Bond issue is a disaster: Sell!

Published 466 days ago

Sound Energy (SOU) has today boasted that it has signed heads of terms for Euro 28.8 million of new bonds with a coupon of just 5%. Sound fantastic. Except that if you dig into the detail you will see that, in fact, Sound could get away bonds only at junk pricing with a related party. That tells you that its shares are a stonking sell.

No Gold to be found in this Port – just a stench

Published 517 days ago

I covered proposals by the board of fully-listed Goldenport Holdings (GPRT) to dispose of its remaining fleet of container ships last weekend with an unequivocal “sell” stance, having previously given the company a wide berth (by more than the length of your average bargepole). The shares duly collapsed by more than 50% last week but I  think that they are worthless and so still a sell at any price. But I have grave misgivings about how this whole thing has been handled by the company.

ShareProphets Filthy Forty – Global Market Group heads for AIM ejection as Nomad Grant Thornton resigns with immediate effect

Published 723 days ago

AIM-China poster-boy Global Market Group (GMC) looks set to become the next member of the ShareProphets Filthy Forty to be given the order of the boot, unless it can find itself a new Nomad by 21 September 2015. This Cayman Islands registered company joined AIM in June 2012 at £1.30 a share, when it raised £9.7 million through a Placing, to join the Casino with a market capitalisation of around £127 million. The shares fell almost immediately to just over 80p. They are now suspended at 50p – following the payment of a deposit in connection with a land acquisition as announced on 10 Aug 2015 - as the lobster-potted shareholders wonder whether the company will ever resume trading.

Kennedy Ventures – a spot of amnesia?

Published 777 days ago

Friday afternoon saw an odd RNS from (Dead) Kennedy Ventures (KENV). It was not the fact that there had been a related party loan which was odd – it was the timing of the announcement. The RNS stated:

The Tooth Fairy more likely to be the 41% Quindell Customer in 2011 than an unrelated 3rd party

Published 1088 days ago

Our weekend reader poll asked simply who you thought was the customer who accounted for 41% of Quindell (QPP) sales in 2011 – that is to say £5.6 million. It seems that folks think that it is more likely to have been the Tooth Fairy than a completely unrelated 3rd party.

Quindell Reader Poll – who do you think was the 41% customer in 2011

Published 1089 days ago

Quindell (QPP) has steadfastly refused to reveal who was the 41% customer ( c£5.6 million ) of sales in 2011. So we wonder do our readers have any idea who it might be. Please vote below. The poll closes Tuesday at midnight.

Why is TMC Southern not declared as a related party to Quindell in 2011

Published 1095 days ago

In yesterday’s half-baked attempted rebuttal of my recent allegations against Quindell (QPP) the company inadvertently let something critical out of the bag and it now begs a quite enormous question about the 2011 accounts. I refer to TMC Southern.

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