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The Great Waseem sends a specialist to check out Cloudtag - the report is damning!

By Tom Winnifrith, The Sheriff of AIM | Monday 13 February 2017


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.


I was not the only person to go to the Spring Fair last week to check out the Onitor, the "product" of AIM fraud Cloudtag (CTAG). The great bear raider Waseem Shakoor sent along someone too.  Waseem reports back:

I arranged for an acquaintance to attend the NEC to have a look at the Onitor last weekend, as he is an Electronics engineer who has a long history in tooling. This is his feedback.

He suspected that the units on display were very basic first stage mock-ups. Interestingly, he didn't even think they had working inner parts, as they were too light and hollow when tapped. This isn't that unusual as, with any new product development (NPD), it is common to have a very limited amount of working samples and a display stand full of blanks - it is accepted in this industry.

However, his opinion was that CTAG were nowhere near moving product, testing certification, etc. Without testing, it is just a concept. Any official testing for standards or certification must come from "reasonable" test production. ie. they use units from large batch production. If they've used, say, 2 units from a sample batch, it states as such in the lab report, and that is worth very little in this industry.

Without reasonable batch production, no instruction can be given to testers like Internek or SGS by any potential major stockist. Major retailers wouldn't even get their QC teams into any initial meeting/study for a possible listing.

Given my own, independent feedback from the NEC, I think there is no chance of any real orders in the next few months. I can't comment on whether there will be any more fake ones, like the $5.2m Second Chance order last year, obviously.

Ends.

Oh dear, that looks pretty damning. Timber!  Now will Cloudtag CEO Amit Ben Haim grow a pair and meet me face to face on the main stage at UK Investor Show? What is Amit running scared of?

The shares emain a sell with a target price of 0p. 


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