By Tom Winnifrith, The Sheriff of AIM | Sunday 25 June 2017
Disclosure: I own shares in one or more of the stocks mentioned. 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.
Yesterday I revealed to you the 18 shares I own and thanks for all the comments. For the avoidance of doubt that portfolio started at zero four and a bit years ago and we have more than trebled our money to date. It happens. But I lied to you, the portfolio is incomplete. I own two other shares.
First is the London Stock Exchange (LSE) where i have twoi shares in my name so allowing me to to to its AGM and beat up the board over the joke casino that is AIM. I am happy to hold those shares as attending that AGM is now an annual treat. The other "investment" is Advanced Oncotherapy (AVO) where I bought one share in certificated form so that I could attend its GMs.
It cost me £52 to do that and I see that the shares are now just 13.5p-14.5p so I make my loss 99.75% in four months. Can anyone beat that? But it will get better, I reckon this will be a 100% loss within months and I shall then be delighted that the brave investigative journalism which this site specialises in will again be vindicated in spades. With leaked emails that found their way to Winnileaks but also with good hard investigative analysis we have exposed Advanced for talking horse in terms of its product, for misleading investors for years and on matters most serious and also nailed one director ( a cockwomble crony of Tony Blair, Lord Evans of Watford) for selling his shares in a closed period (and possibly insider dealing to boot). I am rightly proud of our magnificent work HERE
Two things are worth noting for those still listening to the siren words of grossly overpaid Dr Michael Sinclair and PR spinner for all the shittiest and most fraudulent companies on AIM, Paul Queenie McManus at Walbrook.
1. The company must publish its calendar 2016 annual results by next Friday. Leaving it to the wire is always a very bad sign. There is no way on earth that he accounts can come out without the auditor flagging up that there is a very good chance that Advanced will be heading to tits up alley this year. The debate is simply about how damning the wording is.
2. There are still c £3million Bracknor loan notes outstanding. With the shares were they are now ( and falling) Advanced will be paying over ever increasing sums in cash each time a loan note converts. Advanced probably only has one month's cash left so as Brackor converts at an ever faster rate ( dumping shares all the time pre conversion) that cash pile is eaten into at an ever faster rate. Or Bracknor could simply issue another £1.3 million loan note to Advanced but take the cash it is owed from the amount it should be paying. Pretty soon that will mean Advanced gets nothing at all. Which, as it has only one month's cash, would leave it 100% fecked.
This company is just weeks from insolvency. It reeks of death. Death spiral provider Bracknor knows this so will be selling shares as fast as it can at any price and converting loan notes to cover. The last weeks will be an unedifying mess. I look forward to going from minus 99.75% to minus 100% on this one at which point I can frame the share certificate for a wall decoration and consider this a job well done.
The siren voices of the many bottles of ouzo sitting in my garage are already calling...
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