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BOS Global – Looks like BOS Time is up!

By Cynical Bear | Saturday 10 February 2018


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 don’t take much glee in jumping on graves but having been consistently critical of the nonsense and spoofery at BOS Global (BOS) for the last eighteen months, I thought I should comment on this week’s RNS which seems to be throwing in the towel with no Nomad willing to take on the basket-case.

The founder, Michael Travia, had thrown his weight around to bully the previous Board members out of the way in the hope that with him back pulling the strings, it would be able to raise £1.2 million to keep going and would be able to persuade a Nomad to take on the gig. Unfortunately, life on planet earth is rather tougher and Wednesday’s RNS included the following highlights:

-          No Nomad willing to take on the gig, so only a month before delisting;

-          Not able to get its accounts out as, funnily enough, with no cash and a gang of grumpy creditors, it was unable to satisfy the working capital and going concern elements of the audit sign-off; and

-          It couldn’t raise the £1.2 million after all

The RNS goes on to say that administration is a possible outcome. Well, I would have thought it was extremely likely from here considering the creditors were probably only waiting to see if funding was going to be forthcoming and not sure why they wouldn’t be pushing the company over the edge almost immediately in the hope of getting some funds back from the sale of the Call Design stake.

I feel sorry for any shareholders that got suckered into the spoofing and ramping here that pushed the share price above 10p at one point for a company that never had a viable business model. I trust that no readers of this site would have been caught out, particularly those who read my piece from October 2016 that included the following comedic gem of a video.

Well worth another watch – hard to believe how these guys didn’t make a success of it; whatever happened to Dr Luke Strolz?

 


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