By Tom Winnifrith, The Sheriff of AIM | Monday 12 December 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.
The EGM of AIM fraud Cloudtag (CTAG) was delayed because the plane carrying CEO Amit Ben Haim was held up by fog on its approach to the Channel Islands. Once the great man arrived all resolutions allowing the issue of vast numbers of shares to death spiral providers, and anyone else who will stump up cash, were duly passed. No shock there, most morons can't afford an air fare so voted by proxy pre suspension at a time when the shares were flying so, natch, they backed management. But....
The shares remain suspended post the EGM and post that announcement on Friday which belatedly admitted to a loan conversions after Cynical Bear forced the issue. But that statement was also untrue and other issues were raised at the weekend, not least by Nigel HERE and Lucian HERE. Ignoring technical rule breaches and market abuse, the underlying point is that this company has committed massive fraud and everyone knows it.
The ongoing suspension of the shares is not of the company's choosing and it is not in any way related to the possible re-branding of its bogus product. This shares will only start re-trading when the Oxymoprons at AIM Regulation - who are admittedly useless so easy to please - are satisfied that all boxes have been ticked and that the market in the shares is not disorderly.
One hopes the Oxymorons would decide that, since this company is a fraud, the answer is not to readmit. But in reality Cloudtag may come back but the longer the delay the more panicked morons will be and so any return will see an orgy of selling. In the end, as with all frauds, 0p is the only end game going.
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