I told you that Metro Bank was dodgy...and that you shouldn't underestimate Burberry's Chinese chavs!
Zoo Digital – from November “confident in the prospects” to now “significantly below expectations”. Uh oh…
Published 12 days ago
It has now been exactly a year and two days since VSA completed its “due diligence” on AIQ (AIQ) and brought this cash shell to the Standard List. And what a year of shame it has been.
Published 109 days ago
The shenanigans of the Standard-Listing of AIQ are well documented here on ShareProphets, which included an incomplete prospectus, two suspensions due to a disorderly market (the IPO shares couldn’t be traded) and a fund-raising which was delayed – all in its first five months as a listed company! Meanwhile, with assets (all cash – it is a cash-shell) of around 8p a share, the price rocketed to an incredible 135p. We have been saying sell all along.
Published 164 days ago
Following my piece HERE which voiced concerns that formerly AIM-listed BMR Group (BMR) had simply been executed by the oxymorons, I had a chat with the company to find out what comes next. My hope is that the company will release a statement in due course, but in the meantime what I can report is that it seems all is not lost. I can also report a little more on the loss of its licence in Zambia (which was subsequently restored).
Published 174 days ago
BigDish plc (DISH) is a restaurant services company newly entered onto the Standard List this morning. At an IPO price of 4.5p it is calitalised at £12.9 million. I spoke to Aidan Bishop, founder and chairman of BigDish plc. about how BigDish works and where it fits in between existing restaurant plays Groupon (NASDAQ:GRPN), Deliveroo, and Just Eat (JE).
Published 177 days ago
AIQ (AIQ) joined the Standard List in early January and spent most of the first four months of its life suspended due to a disorderly market, had to correct its admission document because it had missed out some information and steps had to be taken to remove some internet references to businesses which, we are told, it had nothing to do with. It was a shambles. This morning it released its interim numbers to April.
Published 226 days ago
I called Standard Listed AIQ (AIQ) lower when it announced its Open Offer and the shares have (very roughly) halved, but there is plenty more to go. This morning it announced that the offer, at 20p, had been oversubscribed but remember that the net assets per share (all cash) are around 8-10p.
Published 238 days ago
Two interesting announcements this morning from a couple of Standard List participants, namely Falcon Media House (FAL) and Derriston Capital (DERR). it’s finally the long overdue end of the road for the former but could be just the start of an exciting journey for the latter.
Published 246 days ago
Having made it back to the market after its second suspension (and it only listed in January!), Standard-listed AIQ (AIQ) has now launched the promised open offer at 20p. Meanwhile, the shares have been collapsing from the suspension price of 135p to just 55.5p last seen. So the open offer is a giveaway, right?
Published 247 days ago
Amazingly, the cash shell that is Standard Listed AIQ (AIQ) – with somewhere around 8-10p per share of cash and nothing else – has again returned from suspension this morning. The shares, having peaked (ahead of the last suspension) at 150p to buy are now in free fall, sitting on a spread (last seen) of 80p (to sell) to 130p (to buy). I have no hesitation in recommending a sell – there is, after all, only 8-10p of value here. What does surprise me is that there has been no official comment whatsoever from the company – or, indeed, anyone else.
Published 263 days ago
I don’t write as often about my Sub-Standard Shockers XI as monthly updates saying that nothing much has happened and most of them remain in suspension is pretty dull; however, with 30 April being a crucial day in many of their calendars I thought I would do a quick review of some of the drivel emanating from these Standard Listed entities.
Published 267 days ago
I will do a separate piece later this week on all the Sub-Standard Shockers that have come out (or not) with their accounts on deadline day of 30 April; however, I had to comment separately on Widecells (WDC) which as I type is still trading although should be suspended for two different reasons.
Published 276 days ago
On Friday at 1.21pm we published a piece asking what was going on with Standard listed AIQ (AIQ). After all, the shares had only just come back from suspension following a disorderly market from when it was first listed in January. But the share were once again rising sharply, and at 115p way ahead of the 8-10p a share of cash that this cash shell had. At 1.55pm the company released an RNS saying that it:
Published 278 days ago
Standard-listed AIQ, (AIQ) having shaken off my questions, corrected the record over its directors’ other directorships and supposedly dealt with the lack of stock available which sent the shares sky-high when it first listed has finally got its shares unsuspended as of yesterday. But once again the shares are trading at an absurd level for a cash-shell with perhaps, at absolute best, around 10p a share of cash: at time of writing, and no investments, the spread is 100p – 130p!
Published 287 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.
Published 306 days ago
On 6th December I said that a token share purchase by Jim Mellon of shares on Condor Gold (CNR) was a spoof as it was so small for Jim. Moreover Condor was running out of cash and would do a placing within months. Mellon's PR man chewed my ear off. Well hey ho today there was a placing. A pattern of such spoofs and a subsequent placing has continued. Will I get an apology? I also look at lessons from Flybe (FLYB) and the non bid, at Fevertree (FEVR) director share sales, at UK Oil & Gas (UKOG) which is also spoofing, 13 Energy (13E) - "you say it best when you say nothing at all " - R Keating. Then I look at uber dog Golden Saint Resources (GSR) which is leaving AIM and says it wants to go to the Standard List. Lucky Standard List. I also mention our share purchase of more Optibiotix (OPTI). If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH
Published 309 days ago
It’s clearly one of those weeks where chickens (or falcons) come home to roost as the wheels have well and truly come off at Falcon Media House (FAL) this week and it looks like the inevitable is starting, only two years after I started warning about it HERE.
Published 331 days ago
Is @HemoGenyx the corporate account of HemoGenyx (HEMO)? Sadly PR poltroon Paul "Queenie" McManus of Walbrook and pouting brokerette Lucy Williams of Peterhouse have yet to return my calls as I pose this question. But since the lamentable Walbrook has tweeted directed to @HemoGenyx in the past they are either complete idiots (well they are) or that is all the confirmation one needs. Which makes the last two tweets on this account all the more outrageous. You can see them below. Bear in mind there has been no supporting RNS.
Published 366 days ago
And so the blockchain spoofing continues. Step forward Stapleton Capital (STC), a standard list shell listed on 21 September to invest in telecoms. Its main man, the Holmes groupie Rodger Sergant has seen the light and the company is now to be known as BlockChain Worldwide (BLOC) The statement issued begs questions for the sleuth at 221B Baker Street.
Published 369 days ago
Andrew Monk of VSA Capital has answered the questions raised in my previous two articles covering Standard-listed (but still suspended) AIQ (AIQ). He has to be credited for following up on the issues presented, and being open with his answers.
Published 373 days ago
Andrew Monk's VSA floated AIQ on the Standard List last week. Its shares soared 1000% and were suspended. As Andrew notes, through the passive investment vehicle RRR I own shares in AIQ (about £10 worth - CORRECTION I am told it is £1841 worth!). I will try to sell the lot as the valuation is insane. But Monk wants to defend his corner so before our writers really go to town - and I am on their side - here is Monkey in his private email to clients today...
Published 376 days ago
Our good friend and occasional correspondent in these parts, Graham Chester, has also been looking at Standard Listed (as of Tuesday) AIQ (AIQ), which rose from 8p to 125p to have a value of £62.5 million for its £3.6 million of cash and nothing else. Like me, he has become a bit of an anorak on China Frauds so when a familiar name crops up….
Published 376 days ago
Suspended today becuase the market is disorderly, AIQ (AIQ) listed on the Standard list just two days ago at 8p per share, raising £3.6 million. It is a special purpose acquisition company incorporated in the Cayman Islands and formed to undertake one or more acquisitions of target companies or businesses in the e-commerce sector. Er, so it’s got no business at the moment and just £3.6 million (minus costs) in the bank and is now worth an incredible £62.5 million! Bollocks.
Published 493 days ago
At the start of the month, I asked the question on the lips of all the Levrett (LVRT) shareholders, namely when the bloody RTO was finally going to arrive. Well, fair play, it was announced on Friday and shareholders should be pleased, particularly the founders who got in at a fraction of the price of the ordinary private investor.
Published 495 days ago
I was smiling for much of yesterday having read the announcement from Monchhichi (MCC) about its proposed cancellation from AIM and a move to the Sub-Standard segment of the Main Market. Let me explain why.
Published 507 days ago
I don’t normally comment on the ongoing delays of the potential RTO’s of Sub-Standard Shocker XI members as I would be writing on the topic every week but the Levrett (LVRT) story throws up another angle, namely the total disregard to the obligation to announce results; so without a Nomad to enforce compliance with listing obligations, I thought I’d see if I would have any luck.
Published 510 days ago
Sub-Standard Shocker XI member, Papillon Holdings (PPHP) has been a horror show from the beginning, as I have highlighted a few times, most recently HERE, but the massively delayed announcement of the results on Tuesday this week shows Tatnall and Longley to be low-rent lying fraudsters and investors should be clamouring for their money back.
Published 549 days ago
Having commented earlier today on the flourishing growth of the Standard List due in part to tougher rules on AIM, it felt appropriate to start covering a perfect example of such a company, namely Pembridge Resources (PERE) , which is currently moving from AIM to the Standard List. To be fair though, on an initial glance, there’s a lot worse in my Sub-Standard Shockers XI.
Published 549 days ago
I introduced the idea of the Sub-Standard Shockers X1 in May last year on the basis that I felt that the Standard List was becoming a home for companies unable to get on AIM for one reason or another so I believed that, almost by definition, they were destined to fail. I had firmed up the original squad of fifteen over the summer (see HERE). I have since added others but thought it worth looking at those original squad members in a “Where are they now?” type feature.
Published 555 days ago
My heart sunk last week as I noted that the Plutus Powergen (PPG) boys were at it again with their third Sub-Standard List effort coming to the market in just over a year, despite the first two efforts being absolute flops. Oh well, welcome Fandango Holdings (FHP), you’re in the squad– let’s take a look.
Published 583 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.
Published 607 days ago
You really do have to feel sorry for Cynical Bear. One minute he has a fully fit squad to choose from and then one by one they drop like flies, either with fitness issues or just simply keel over. I’d been getting a bit concerned that he’d struggle to put out a full team, but out of the blue there is good news for him. No need to turn to the back pages of the tabloid press for the big stories of sporting drama, we have it all here at ShareProphets: AIM-listed Servision (SEV) is to put in a transfer request.
Published 634 days ago
This week was always going to throw up a few horrors with it being results week for a whole load of the Sub-Standard Shockers XI. I will do a round-up of some of the other comedic moments from the various announcements over the long weekend but Papillon Holdings (PPHP), which failed to get its results out at all, deserves a special mention.
Published 646 days ago
Apologies for the delay in this mini-series (Part 1 of which can be accessed HERE) but I thought I’d do the decent thing and ask Falcon Media House (FAL) some questions directly first. As it has ignored me, I thought I should just crack on instead and now turn to the worrying matter of the fast vanishing cash balance, both historically and forecast.
Published 650 days ago
Mixed emotions for me this week as it looks like one of the more entertaining stars of the Sub-Standard Shockers XI, Opera Investments (OPRA), may finally have done a decent looking deal with the Kibo Mining (KIBO) gold assets; however, it looks like it will be heading off for the sunnier climes of AIM as a result, leaving my squad ever so slightly weakened.
Published 653 days ago
In a mini-series of tales of unlikely comebacks, I covered Dukemount Capital (DKE) earlier today and now look at Path Investments (PATH), although from first glance, it looks like the only ones who are on a Path to riches here are the management team.
Published 653 days ago
As a kid, I used to watch the first three Rocky films pretty much on loop as I love a feel-good comeback story and I note that the Standard Segment of the Official List is fast becoming the home for such stocks. Unfortunately, I doubt the ones I’ll cover today are going to have the beating of Apollo Creed or Clubber Lang. First up is Dukemount Capital (DKE).
Published 666 days ago
With the exciting news that Falcon Acquisitions (FAL), or Falcon Media House as it is now known, has finally come back to the market after an eight-month suspension, I thought I’d do a review of a few of the interesting bits coming out of the long-awaited prospectus as a counter-balance to the tsunami of bullish noise from all the usual places yesterday. Unsurprisingly, there is staggering lack of disclosure that is all too normal with Standard List companies.
Published 671 days ago
I last commented on Sub-Standard Shocker XI member, Toople (TOOP), at the start of February (HERE) following its final results on 31 January, in which I was sceptical of its going concern claims and thought funds would be needed shortly. Funnily enough, it has now announced that the business is struggling and it needs new funds. No great surprise.
Published 682 days ago
Just like the moment when Rooney scored THAT goal against Arsenal in 2002 as a 16-year old in off the crossbar from 25 yards, launching himself into the limelight, I gave a yelp of delight when reading the “Intention To Float” announcement issued by Ocelot Partners (OLOT) last Wednesday. Finally, the Sub-Standard Shockers XI may have found that playmaker with a bit of magical star quality that it can build a team around.
Published 692 days ago
Oooops I did it again, said the boy scout mugger Stuart Bromley. Anmther day and another fuck up at Standard List posterboy CIC Gold (CICG), shares in which have been suspended since Novemver 3 2015 as it pursued an all paper RTO of a worthless brown field gold explorer Gobi.
Published 704 days ago
With the majority of the squad in suspension, or just acting as if they are, the Sub-Standard Shockers XI is in need of some fresh talent and, fortunately, there have been three recent hopefuls making a claim for a place in the team, namely, Emmerson (EML), Mila Resources (MILA) and Stranger Holdings (STHG). I’ll take a quick look at each.
Published 710 days ago
Earlier today I served up a shocking document from the land of high culture which exposes a $2 million heist by Pirate Pete Landau. I think it is fair to say that the Pirate is in real trouble and will not be docking his ship at the AIM casino ever again. But he is not the only chap in the spotlight as a result of this scandal.
Published 710 days ago
In May 2016, I commented on the forthcoming IPO of a David Breith-connected business, Toople, which joined the Sub-Standard List raising £2 million at 8p (see HERE). It currently trades at 3.25p, a disappointing 60% drop in a mere eight months, but I thought I’d take a closer look at its recent maiden full year results to assess where it goes from here.
Published 738 days ago
A dispiriting new entry to the Sub-Standard Shockers XI this week – well someone has to fill the impending gap created by the liquidation of Worthington (WRN) - so please everyone give a warm welcome to Simian Global (SMG), a reincarnation of a previously failed effort. Please allow me to explain.
Published 789 days ago
I was going to wait until the prospectus came out for the Quiptel deal before commenting on the recent acquisition by Falcon Acquisitions (FAL); however, my spelling and grammar OCD got the better of me so I had to get a few things off my chest sooner rather than later.
Published 790 days ago
By anyone’s standards, and this team’s standards are pretty low, it’s been a shocking week with a winding-up petition being issued against the team leader and general inspiration, Worthington (WRN) and player manager, Senterra Energy (SEN) having to ‘fess up to a failed deal with its share price collapsing as a result. How did the rest of the team get on!?
Published 793 days ago
Having listed just over a year ago at 5p per share citing “market conditions present compelling opportunities to acquire a cash generative oil & gas company with strong upside potential”, Senterra Energy (SEN) was in May “pleased to inform shareholders” of a prospective deal with… “a sim-card technology business based in Singapore” (Oasis Smart Sim PTE Ltd)! Now we have a “Termination of Acquisition, Restoration of Listing” announcement…
Published 829 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.
Published 830 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?
Published 843 days ago
It’s no great surprise to me that Sub-Standard Shocker XI member, Silver Falcon (SILF) called off its potential RTO with Fintech business, Lime Holdings, on Friday but it’s still worth highlighting a couple of aspects of this disappointing affair.
Published 862 days ago
With the football season now in full flow, it is appropriate to assess the full squad’s performance to-date. Unsurprisingly, but still disappointingly, none of the squad is fit to even tie the shoelaces of Robbie Savage let alone play in the Premier League, but will the FCA do anything about it?
Published 865 days ago
I first wrote about Papillon Holdings (PPHP) when it joined the Sub-Standard List back in June (HERE) assessing whether it was “fit” enough for the squad. Well, I had no reason to worry as a mere three months later, it has issued an appalling RNS which will have the inevitable disappointing long-term consequences for shareholders.
Published 926 days ago
A month ago Highlands Natural Resources (HNR) announced that it had sold some assets it had bought days previously for $91,000 for £4 million in shares in fellow standard list dog Opera (OPRA) as well as £240,000 in cash. Today that joke deal has collapsed leaving Opera desperately seeking another acquisition and with its credibility in tatters and Highlands needing to explain the lies it has told.
Published 966 days ago
The ShareProphets AIM-China Filthy Forty has seen some tragedies worthy of Shakespeare – see PCG Entertainment yesterday, for example. So now it is time for the light relief, and in that vein we bring you, courtesy of a cracking spot by our very good friend Graham Chester, FY15 results from ISDX-listed Miloc Group Limited (ML.P). It is pure comedy….
Published 995 days ago
Trendit (TRIT) announced on 4th January 2016 that it had "completed a placing of existing and new ordinary shares at 5.53 pence per share, and is raising a total of £4 million before expenses." Its shares duly joined the Standard list and were soon trading at north of 6p. The statement was not a lie but it was so utterly misleading that someone must go to prison.
Published 999 days ago
Time and time again we have warned you that CIC Gold (CICG) would see investors lose everything. That is always the way with companies created by the Boy Scout Mugger, the loathsome Stuart Bromley. The shares are currently suspended on the Standard List following a joke RTO but the odds on them ever trading again are longer than that the Great Wall of China.
Published 1038 days ago
Bluebird Merchant Ventures is set to list on the Standard List of the main market this week. We have a few shares in this company, let us be upfront about that. The CEO of Bluebird is Charles Barclay and I asked him a few questions ahead of the IPO
Published 1217 days ago
In a wide ranging podcast I once again praise the great share blogger Paul Scott, if only to annoy those Bulletin Board Morons who wish to see us be nasty to each other. That will not happen. Elsewhere I comment on LGO Energy (LGO), UK Oil & Gas (UKOG), Armadale Capital (ACP), RM2 International (RM2), London Capital (LCG), JQW (JQW), IMC Exploration and that scumbag Liam McGrattan of US Oil & Gas (USOP) infamy and what that says about Standard Listings, and also on Tungsten (TUNG).
Published 1270 days ago
Xplorer (XPL) came in for a grizzly Bearcast savaging from Tom Winnifrith back on 1 Dec 2014 (HERE) following its Friday after-hours at no-one-is-watching o’clock interims statement. Last week saw this LSE Standard Listing company repeat the trick with its full year results to the end of March 2015 statement, released at 6pm when everyone had gone home for the weekend, or possibly for a few days’ summer holiday on Marbs with Jon Stretton-Knowles. If the Interims were a shocker, this statement was so much worse - it is hard to know where to start.