By Tom Winnifrith, The Sheriff of AIM | Monday 29 February 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Are you starting to see a pattern here? Avanti's (AVN) shares slide. Folks ask a couple of difficult questions and "hey presto" the company announces a totally meaningless contract win but will not answer the questions. There is a brief rally in the share price but each time uber Welsh bombast David Williams pulls this trick it has less and less effect. David you surely know that you can screw some of the sheep some of the time but you can't screw all of the shareholders all of the time.
And so today we are told that Avanti "announces a new contract with isNet, a subsidiary of Isbank, one of the largest banks in Turkey. isNet will provide Ka-band satellite connectivity to its enterprise customers in Turkey and Europe through Avanti's HYLAS 1 and 2 satellites."
Hmmm... so what this is actually saying is that if I own a kebab store in Ankara and bank with Isbank it can get me broadband using capacity (of which there is stacks going) on an Avanti satellite. Really. Woweee. What is this deal worth? The release does not say because Avanti does not know but I think we can all sense that it is not going to be much.
Natch the morons who believe in the bombast have bid the shares up by a few pence to 105p but the rally is stalling as folks work out that this release really is just so much hot air.
Meanwhile Avanti will not answer any of my questions about the very curious accounts of its Infrastructure subsidiary HERE, how much it earns from the Islamofascist war criminal murderers of ISIS HERE or its curious accounts for 2015 as reported to the FRC HERE. Meanwhile as every day goes on it gets that much closer to running out of cash and going tits up.
The shares are a sell. The target price is 0p.
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