Tom Winnifrith Bearcast: Woodford and another £10m down the Proton Partners pan - a new valuation scandal
Published 57 days ago
Last month one of the five had its denouement as AIM-listed Haydale (HAYD) had an emergency bailout - as long predicted by me - at only 2p. That left just four. My suspicion was that AIM-listed member of the Filthy Forty, Walcom (WALG) would be next with its head under the guillotine and the news there was only marginally better as death has been postponed to June.
Published 61 days ago
In today's bearcast I take a very detailed look at IQE (IQE) and explain why the shares are worth 40p max, potentially half of that. I also cover Blue Jay Mining (JAY), Yourgene (YGEN), Tomco (TOM), Cloudbuy (CBUY) and F40 member POS Walcom (WALG). If you enjoyed this, I think, profanity free bearcast, follow a bloke from the Grim North who donated enough to buy a whole house in the welfare safari and support the Rogue Bloggers for Woodlarks HERE.
Published 68 days ago
The final death throes of ShareProphets AIM-China Filthy Forty play Walcom (WALG) seem to be upon us. This is as a result of its biggest customer defaulting on payments, leaving Walcom with no cash, a much reduced client pool and a stack of bills to pay. On 28 February the company warned it may go belly up by the end of March. The good news is that the executioner has been held off until mid-April, and Walcom is now proposing to sell off a subsidiary to raise a bit of cash...
Published 81 days ago
Well, you can’t say you have not been warned! ShareProphets AIM-China Filthy Forty member (one of the few remaining) Walcom (WALG) warned yesterday that Trading in the first two months of the financial year has been significantly below budget. But that was the minor issue, as its defaulting customer still hasn’t paid up. Walcom is pretty specific over its predicament;
Published 86 days ago
They say that a week is a long time in politics (attributed to Harold Wilson), and so it seems with the equity markets. A week ago my portfolio of five shares to sell was actually up by 4.6%. Now, all of a sudden we are at minus 8.6%.
Published 91 days ago
It is four weeks since my last update, so it is time to take another look at my sells for 2019. The five have, as a whole, had a better month but I cannot help but think that for three of them the precipice approaches...
Published 108 days ago
As Tom Winnifrith drowns himself in Ouzo for breakfast this morning, after AIM-listed Telit (TCM) put off its disposal and fellow AIM-listed Altona (ANR) and Alien Metals (UFO – formerly Arian Silver) were suspended on AIM, I wonder if I’m missing out. Back on 21 November 2018, AIM-listed Walcom (WALG) of the ShareProphets AIM-China Filthy Forty told us it had a debt repayment due in January…..
Published 119 days ago
I thought I’d update on my 5 sells for 2019 as after just a couple of weeks a few cracks are beginning to show already. The five, Telit (TCM), Haydale (HAYD), Yu Group (YU.), Walcom (WALG) of the ShareProphets AIM-China Filthy Forty and First Derivatives (FDP) are not necessarily shorts – some, such as Walcom, couldn’t be shorted anyway. But they are sells.
Published 153 days ago
Following it previously noted, Allenby a Nomad of choice with some of the few remaining 'Filthy Forty' constituents. Could similar action follow?, here's an update on the current ShareProphets China AIM 'Filthy Forty' situation...
Published 153 days ago
Last Night at 4.39pm – after hours at no-one-is-watching o’clock, ShareProphets AIM-China Filthy Forty member (one of just seven remaining) China New Energy (CNEL) issued a Trading Update. Except the meat of the dish was not about the company’s trading, it was about trading in its shares. We are told the Company is currently considering and assessing all the options available for fund raising in other stock exchanges. Aha - it is voluntary execution ahoy!
Published 179 days ago
Yesterday ShareProphets AIM-China Filthy Forty member (one of only 7 remaining) Walcom (WALG) updated the market on its efforts to get its largest customer to pay its bills. Bad news there, as was the accompanying profit warning, repayments of borrowings, discussions with lender and the final coup de grace: ….the Company may be in a position where it is unable to settle its liabilities as and when they fall due. What’s not to like!
Published 188 days ago
Following it recently noted, Allenby a Nomad of choice with some of the few remaining 'Filthy Forty' constituents. Could similar action follow?, here's an update on the current ShareProphets China AIM 'Filthy Forty' situation...
Published 209 days ago
Following a corporate results season, here's a October ShareProphets China AIM 'Filthy Forty' performance update...
Published 240 days ago
Since there are now just seven companies remaining of the original forty, and with the end of September coming up I thought it high time to have a gander across the remains of the ShareProphets AIM-China Filthy Forty.
Published 258 days ago
ShareProphets AIM-China Filthy Forty play Walcom (WALG) – one of just seven remaining – announced yesterday that its largest customer had at last ponied up some cash. But it is only to the tune of about £34,000. Against a further approx. £632,000 owed and overdue, and another approx. £92,000 falling due by mid-month, that is a drop in the ocean.
Published 273 days ago
An update last week noted UniVision Engineering (UVEL) has updated that it now expects to announce results for its year ended 31st March 2018 in that week (from “towards the end of July” previously, hmmm!). They haven't gone down well...
Published 279 days ago
Following the latest Walcom – customer still not coughed up, now its off to the lawyers, here's an August ShareProphets China AIM 'Filthy Forty' performance update...
Published 293 days ago
ShareProphets AIM-China Filthy Forty play Walcom (WALG) – one of just seven remaining – has announced that its largest customer still hasn’t ponied up the wonga. There’s a surprise…..not! Also unsurprising is the share price reaction, where the bid price has dropped to just 0.25p. If you wanted a bag of crisps, you’ll have to settle for Tesco Value ones now.
Published 298 days ago
Following earlier this month Walcom – surprise, surprise: the customer hasn’t paid yet, here's July's ShareProphets China AIM 'Filthy Forty' performance update...
Published 314 days ago
On 28th June ShareProphets AIM-China Filthy Forty play (one of only seven remaining) Walcom (WALG) announced it was having problems getting its biggest customer to pay – but it was ok because it expected to cough up by 10 July. Well, here we are and surprise, surprise……it still hasn’t ponied up the wonga. The company issued an RNS entitled “Customer Payment” (if that is not misleading, I don’t know what is!)
Published 326 days ago
This morning ShareProphets AIM-China Filthy Forty play Walcom Group (WALG) issued a trading statement. Given that its interims are due by tomorrow, that does not look good – indeed, I wonder if the numbers will not be forthcoming and a suspension will follow.
Published 552 days ago
ShareProphets AIM-China Filthy Forty play Walcom (WALG) hasn’t provided as much entertainment as some of its fraudulent brethren, but yesterday’s trading statement – issued at 10.36am, so bad news – is a bit of a gift.
Published 968 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?
Published 973 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?
Published 1109 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?