Results

ShareProphets China AIM 'Filthy Forty' update – EGM approval for MoneySwap to next de-list edition

Published 78 days ago

Since our previous update, another ShareProphets China AIM 'Filthy Forty' company in MoneySwap (SWAP) has seen EGM approval for AIM cancellation - to follow the likes of Geong International and co in 'Geong, Geong' and then Gone...

ShareProphets China AIM 'Filthy Forty' update – good riddance Taihua edition

Published 101 days ago

Since our previous (March) update, another ShareProphets China AIM 'Filthy Forty' company has followed Geong International and co in 'Geong, Geong' and then Gone...

Filthy 40 Taihua - last chance to get out ahead of delisting

Published 106 days ago

ShareProphets AIM-China Filthy Forty play Taihua (TAIH) deslists at the close of play today. If you want to claim your bag of Walkers, now's your last chance - unless you want to take your chances on suggestions of a possible offer from a major shareholder and management coming to fruition at a better price following this weekend's scheduled lethal injection in the basement of Stuttard Towers.

New Bulletin Board Moron of the Week Contest - sponsored by MoneySwap

Published 118 days ago

This week's contest is graciously sponsored by MoneySwap, the Filthy Forty constituent that has this week requested to be dropped from the AIM market.

Hey Filthy Forty MoneySwap and Nomad Allenby, tell us about Wraith Holding BV

Published 124 days ago

Well this is very odd. I just thought I'd look up ShareProphets AIM-China Filthy Forty play MoneySwap's (SWAP) putative white knight rescue financier Wraith Holding BV as announced in recent RNSs on the OpenCorporates.com website. Guess what? It's not there. Can anyone explain?

Filthy Forty MoneySwap proposes to delist from Casino after eight months of suspension. So much for AIM Rule 41, Marcus Stuttard.

Published 127 days ago

The ShareProphets AIM-China Filthy Forty is set to have yet another casualty – this time MoneySwap (SWAP) which is proposing to follow Taihua (TAIH) and Jiasen (JSI) out of the back door via a cancellation EGM to become the twenty-seventh Casino delisting. But this will be after almost eight months suspended from trading. Oh Oxymorons at AIM Regulation, whatever happened to AIM Rule 41 which says that execution comes at the end of six months’ suspension? Why don’t you just apply your own rules? Does the AIM Rulebook count for nothing these days?

ShareProphets AIM-China Filthy Forty Update – unspeakable in pursuit of inedible edition

Published 143 days ago

With the demise of the twenty-fifth Filthy Forty listing, Asian Citrus (ACHL), as of this morning there are just 15 of our motley crew remaining listed on the Casino – and one of those, MoneySwap (SWAP), has now been suspended for more than six months, but it seems the Oxymorons have decided not to apply AIM Rule 41.

Filthy Forty – Ouzo on ice as it’s eyes down for the next AIM-China execution.

Published 146 days ago

AIM Death Row long-termer and ShareProphets AIM-China Filthy Forty play Asian Citrus (ACHL) was suspended pending accounts way back on 28 September last year after its auditor demanded further testing, including visits to the company’s banks to see the bank statements first hand in the wake of allegations that the books had a few, ahem, “anomalies”.

Filthy Forty MoneySwap – another own-goal from Team Stuttard

Published 151 days ago

ShareProphets AIM-China Filthy Forty play and yet another Lin brothers AIM disaster story MoneySwap (SWAP) has finally released its outstanding FY numbers to March of last year and interims to last September. The shares have been suspended pending results since 21 September last year and under AIM Rule 41 the company had until today to get the suspension lifted or get booted off the Casino. But today we learn that the shares are to remain suspended, yet there is no mention of an impending execution. This is a regulatory shambles – especially when we consider the apparent reasoning.

Filthy Forty Asian Citrus: Bullsh** RNS, it’s AIM execution ahoy - TW senior’s ouzo lined up for another hit

Published 157 days ago

ShareProphets AIM-China Filthy Forty play Asian Citrus (ACHL) has offered yet another update on its delayed (due to allegations which looks like accusations of fraud) FY16 results. Having tried ever so hard to obtain relevant information and to facilitate additional audit procedures (ie visits to the banks in person) the company has announced that it has initiated legal proceedings to remove relevant senior management members of the relevant subsidiaries. With the shares having been suspended since 28 September execution after six months as long-termers on AIM’s Death Row is scheduled for 29 March. The company cheerfully tells us that the implementation of such changes may take time – ShareProphets RNS Translation Service: it’s delisting ahoy.

Filthy Forty MoneySwap – new rescue deal in the offing but time running out

Published 160 days ago

ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) announced last week that it was in discussions with a new potential white knight saviour in the form of Wraith Holding BV, a Netherlands-based vehicle of a Mr Gilbert Armenta which has been incorporated for the purpose of investing into the company. But time is running out: having been suspended pending accounts since 21 September last year the company only has until a week on Tuesday to get both Finals to March 2016 and interims to September released or its AIM-listing is toast.

Is Filthy Forty MoneySwap another AIM-China FRAUD set to depart the Casino?

Published 168 days ago

ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) has been taking up a cell in the Casino’s Death Row since its shares were suspended pending accounts on 21 September 2016. Under AIM Rule 41 it has just days to release numbers or become the 25th departure from the Filthy Forty. Whatever happened to the links to Unionpay? The e-wallet? The software? And is Interim CEO Craig Niven again about to preside over the collapse and disappearance into the ether of a Lin brothers fiasco? 

Filthy Forty Asian Citrus – now interims delayed as Casino eviction draws ever closer

Published 168 days ago

ShareProphets AIM-China Filthy Forty poster-boy Asian Citrus (ACHL) updated the market yesterday that in the light of ongoing allegations of fraud which have thus far prevented release of audited accounts for the year to June 2016, it has now concluded that it won’t get its interims to December out on time either. The shares have been suspended since September 28 last year and now with two sets of numbers outstanding and a deadline under AIM Rules of the 28th of this month to meet or face expulsion from the Casino the fat lady is already humming  a merry tune as she gets the lethal injection ready.

Filthy Forty Asian Citrus – (lack of) progress on fraud allegations as Aim execution looms in four weeks

Published 172 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.

Jiasen - less than 3 hours to get out, bid price now just 0.25p

Published 173 days ago

Shares in ShareProphets AIM-Chnia Filthy Forty play Jiasen (JSI) have now slipped to just 0.25p on the bid. Our advice is still to get out while you still can, but time is running out.

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

Published 178 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.

Filthy Forty – the race to execution #24 hots up

Published 203 days ago

That the ShareProphets AIM-China Filthy Forty is already down to just 17 members is, of course, a shocking indictment. 23 AIM departures later, we have been waiting for number 24 for quite some while but it looks as though the two front runners are battling it out to the finish line. Not to be outdone by MoneySwap (SWAP) and its Tuesday suspension update, Asian Citrus (ACHL) followed suit yesterday. Both are overdue with accounts, one perhaps to do with solvency and the other over allegations made which read to me like allegations of fraud.

China fraud MoneySwap – another short term bailout loan means the parrot can rest a little longer

Published 206 days ago

Yesterday ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) updated on its parlous financial position and the long-promised recapitalisation rescue. It has borrowed a bit more urgent financing, but warned investors that it’s suspension from trading on AIM (since 21 September last year) now has less than two months to run before the company is led to the AIM execution chamber.

Filthy Forty PCGE Entertainment: it is hats off to Saint Richard Poulden as rescue deal revealed

Published 220 days ago

ShareProphets AIM-China Filthy Forty play PCG Entertainment (PCGE) has announced a rescue deal. It is great news for shareholders and a stunning coup for head honcho Richard Poulden, the Chairman, who stepped up to the plate following the shocking emergence of difficulties involving previous top dog Mr Kung Min Lin and a deal to buy Centre Point Development Corp (CPDC). The deal announced today looks to be a full lancing of the boil.

China Norfolk MoneySwap – refinancing delays but the parrot is just resting. Honest, guv’

Published 246 days ago

Well I guess it is not dead yet, but ShareProphets AIM-China Filthy Forty poster-boy MoneySwap (SWAP) sure is pushing the line. Having bundled through shareholder authorities to get enough headroom available for a rescue bail-out at its last AGM even without a firm proposal on the table last June, apparently due to the urgency of the situation, here we are six months on and still there is no deal – and the company is running on the fumes of a series of emergency loans. What’s the point?!

Allenby Capital - is this damning enough to make you quit as Nomad to China crap Moneyswap

Published 306 days ago

Shares in Moneyswap (SWAP) are suspended on the AIM Casino as the company can't get its accounts for the year to March 31 out (still) and because there are clear financial issues. But Nomad Allenby is clearly desperate for retains as it won't quit this obvious fraud. Well perhaps when it reads the expose that follows it will at last do the decent thing....

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….

Vote Now in the Filthy Forty Pongy Poll! Which will be the next F40 casualty of the Sept 2016 reporting season?

Published 329 days ago

Last year’s Sept reporting season saw a raft of casualties as members of the ShareProphets AIM-China Filthy Forty either failed to release numbers on time and/or saw the Nomad quit. With less than one week to go until deadline day for interims to June 2016 (or finals to March 2016) there are ten of the remaining 17 members of our iffy index still to report (or announce that they won’t). Which will be the next to get suspended?

ShareProphets China AIM 'Filthy Forty' update – further more than half our index not 'Geong, Geong', but Gone…

Published 329 days ago

Just over two months on since our previous update and two more ShareProphets China AIM 'Filthy Forty' companies have followed Geong International and co in 'Geong, Geong' and then gone - and another has been suspended...

Filthy Forty MoneySwap – shares suspended: more ouzo at ShareProphets Towers

Published 332 days ago

Well that didn’t take long: at 9.53 up goes our piece (HERE) pointing to the possibility that ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) could find itself suspended out of the blue with no warning (apart from HERE) and lo and behold the shares are suspended 37 minutes later (see HERE) because the company can’t get its accounts to March out on time. In view of this and in honour of the disappearance of QE Mr Stewart Dickson (formerly Dick) from Nomad Cantor Fitzgerald in the wake of the African Potash (AFPO) scandal (see HERE) I have changed my name to Mystic Meg.

Filthy Forty MoneySwap – share price falls below proposed bailout

Published 332 days ago

I wondered HERE whether the proposed rescue refinancing of stricken ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) could get into a spot of bother as the shares were sliding. Now they have slipped below the mooted bail-out price of 0.2c per share.

Filthy Forty – interims deadline looms: yet more executions afoot?

Published 334 days ago

Of the original 40 AIM-China companies we identified as our ShareProphets Filthy Forty, the steady attrition has seen that number whittled down to just 17 companies. The period either side of the reporting deadline for calendar 2015 numbers (30 June) saw further departures, but last year’s interims deadline saw a queue for AIM’s Death Row develop. How are we looking this time?

Filthy 40 MoneySwap – death postponed (again)

Published 346 days ago

It was announced on Monday afternoon that stricken ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) has drawn down another additional £147,000 under a keep-the-lights-on bridging facility whilst it tries to get a refinancing together. It has now borrowed $395,000 of a $200,000 facility, plus three extensions. Oh, and its CEO walked last week, with (apparently) non-Exec Chairman Craig Niven stepping in as interim CEO. Except on Monday he was still being noted as non-Exec in the RNS.

China Fraud MoneySwap – CEO walks at no-one-is-watching o’clock. Is it bust yet?

Published 352 days ago

Last night at no-one-is-watching o’clock (5.30pm) ShareProphets AIM-China Filthy Forty play Moneyswap (SWAP) announced that its CEO, Ms Sunny Yu had walked the plank with immediate effect. Has the cash run out yet, and will Nomad Allenby follow suit?

Filthy 40 MoneySwap – heads you lose, tails er….

Published 384 days ago

ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP) has made no secret lately of its dire financial predicament. The investment case appears to be that it either gets a refinancing (with a new board) and survives – but with the new money coming in at a significant discount, or it does not in which case it is bust.

Filthy 40 AIM Casino Elimination Stakes – you were right! (so far…)

Published 412 days ago

It seems that Yougov, Mori and whatever else the pollster are called these days have a thing or two to learn from ShareProphets polling. They keep on getting it wrong, but our readers responded to the question of how many delistings and suspensions were coming on the ShareProphets AIM-China Filthy Forty over four weeks from 17 June and half of respondents said two or three. So far, it is bang on. Mind you, there are still a few days to go.

Filthy 40 MoneySwap refinancing proposals as equity faces big dilution

Published 412 days ago

Friday after-hours saw a no-one-is-watching o’clock proposal released by ShareProphets AIM-China Filthy Forty play Moneyswap (SWAP). IF all goes according to plan then existing shareholders will be diluted very heavily as the bailout money gets most of the equity (at quite a discount to Friday’s closing price). If not then the company goes bust. But you can’t say you were not warned.

China FRAUD? MoneySwap, PCG Entertainment former chairman – a look back in history: the post-match analysis

Published 433 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.

FRAUD EXPOSE: MoneySwap and PCG Entertainment – a look back in history at the former chairman and his brother. All to play for as the second half really gets going….

Published 435 days ago

Mr Kung Min Lin served as Chairman of Filthy 40 MoneySwap (SWAP) and PCG Entertainment (PCGE). But before that he served as Exec Director of AIM investing company Sportswinbet (SWB) from the 2005 IPO, which went on to become Power Capital Global (PCGB) with Mr Lin as Chairman. You can follow the progress of the first incarnation HERE. But we’re back from the break and with what's left of the £3 million raised in 2005 it’s now time for the second half: Mr Kung Min Lin’s brother comes to the fore.

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 436 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.

Filthy 40 MoneySwap – loan drawdown and a nasty read-across from PCG Entertainment which needs a full Steward’s

Published 445 days ago

Oh dear, oh dear. I have the utmost respect for Richard Poulden who had the grim task of overseeing today’s awful trading update from AIM-China play PCG Entertainment (PCGE) and like Tom Winnifrith I had hoped that his outfit might prove to be a rare winner on the Filthy Forty. My experience of him has been one of immense integrity a very sharp mind so it is with considerable sadness that I am writing this. But a bit more digging later, it looks just awful – although, I must stress, not on Mr Poulden - and there is a worrying implication on fellow Filthy Forty play MoneySwap which is already is considerable trouble. Sadly, I fear that AIM Regulation needs to do a full steward’s here.

Filthy Forty – news from the Norfolk Province of AIM as reporting deadline looms

Published 452 days ago

The ShareProphets AIM-China Filthy Forty is already down to just 20 AIM-listed companies, with a further three currently suspended. The calendar FY2015 reporting deadline is now looming (30 June), which last year saw a splurge of suspensions and Nomad resignations as companies either failed to report or their advisers decided enough was enough. But we’ve had a good few RNSs in the last few days, so it is time for a rancid round-up!

Filthy Forty – MoneySwap enters the last chance saloon

Published 466 days ago

Yesterday we had a funding update from cash-strapped ShareProphets AIM-China Filthy Forty play MoneySwap (SWAP). It seems that there are negotiations going on, with hopes that a funding deal worth $4.5 million (call that £3.125 million) can be closed. Meanwhile we are told that some keep-the-lights-on short term funding has been arranged. 

Red Flags at Night: F40 MoneySwap – signs of a cash crisis?

Published 480 days ago

ShareProphets AIM-China Filthy Forty member MoneySwap (SWAP) issued an after-hours RNS last night which looks to suggest that the cash is fast running out. As one of my seven stocks to get suspended where shareholders could lose 100% from last November, might it be that kill number three (and F40 kill number 21) is not far off?

Revisited: Seven Stocks to get suspended where shareholders could lose 100%

Published 489 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).

Tom Winnifrith Bearcast 11 March - 2 sizzling rumours, very bad language and a favour asked

Published 526 days ago

The sizzling rumours - MX Oil (MXO) and Moneyswap (SWAP). I start and finish with a favour to all of my younger or more IT minded listeners. If you can please action that today it would be fab, Then I move on to look at Gulfsands Petroleum (GPX), Nighthawk (HAWK), Stanley Gibbons SGI), Starcom (STAR) and, in some detail, Cambian (CMBN) - where I do hope you heeded my warning 141 days ago HERE.

Tom Winnifrith Bearcast 26 November - taking more lectures from Hanoi Jane Paul Scott

Published 632 days ago

Oh no Paul Scott is giving me health advice again. If he promises never ever to waterboard me again with online retail gross margins I might just quit smoking. Away from that I look at car crash Slater & Gordon (SGH) following up from the earlier detailed piece HERE. In a similar vein I look at NAHL (NAH). Then it is onto EKF Diagnostics (EKF), Moneyswap (SWAP), Oilex (OEX), Forte Energy (FTE), Alliance Pharma (APH), Iofina (IOF) and the Fitbug (FITB) dog. There is no mention of Jabba The Hutt today, David Lenigas must wait for Gold & Bears on Saturday for his next drubbing. And boy will it be a drubbing.

JobSwap at MoneySwap, but what about the cash position?

Published 643 days ago

ShareProphets AIM-China Filthy Forty member MoneySwap (SWAP) has announced some boardroom musical chairs. In comes Ms. Yu Shu Fen as an executive director looking after business development. The (now ex-) CEO, Mr Richard Proksa has been replaced by the Chairman, Mr Kung Min Lin who appears to be doubling up as both Chairman and CEO - a busy chap, as he is also non-exec chairman at AIM-listed PCG Entertainment (PCGE). Mr Proksa will, however, continue as a director. But what about the (lack of) cash position? 

Filthy Forty (and others) - who is passing these as fit for UK markets? Part 5 - more disaster

Published 659 days ago

Graham Chester continues his stinking series on Reporting Accountants to UK-listed China plays with a look at Team Quigley at Smith & Williamson – the one-stop shop for Chinese companies coming to the UK. How do their clients fare? Er….

Results round-up a festival of AIM-China Red Flags at the end a festy fortnight on the Filthy Forty.

Published 686 days ago

Phew, what a scorcher! The heat really was turned up on the ShareProphets AIM-China Filthy Forty over the past two weeks. Last week we had one AIM-execution,  a suspension (and subsequent restoration) as Vmoto (VMT) announced a transaction which we find less than credible (HERE) and results from Jiasen (JSI) which prompted Tom Winnifrith to present us with a choice that he was a banana or Jiasen is a fraud. And JQW (JQW) had its operations suspended by the Chinese authorities for contraventions of advertising and pyramid-selling regulations before releasing less than convincing interims. This week saw fourteen of the Filthy Forty racing to the line to get results filed by close of play Wednesday so as to avoid automatic suspension, two of which added to the overcrowding problem on AIM’s Death Row as their Nomad quit. Here is the ShareProphets  round-up of AIM-China Red Flags served up this past week.

Filthy Forty MoneySwap FY Results: placing ahoy!

Published 690 days ago

Another set of numbers from the 14 ShareProphets AIM-China Filthy Forty which were due to report by Wednesday of this week has been chalked up. MoneySwap plc (SWAP) reports a full year (to end Mar 2015) loss of $3.2 million. Against a market capitalisation of £11.1 million (source: ADVFN) that doesn’t look too clever. But it gets worse, because there is an audit Emphasis of matter with regard to sign-off of the company as a going concern: the company will be required to raise funds. Neon signs: placing ahoy!

Filthy Forty – more fun and games to come this week as 14 reporting deadlines loom

Published 692 days ago

It was a storming week last week on the ShareProphets AIM-China Filthy Forty. But there is more to come, for Wednesday sees the end of the month and the reporting deadline for any company with a half year to the end of June, or a full year to the end of March. So what is there to look forward to?

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