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By Tom Winnifrith, The Sheriff of AIM | Tuesday 10 April 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.
Even The spawn of Satan, evil PR spinner Damian McCrystal, cannot polish this turd - the wheels are coming off the fraud MySquar in a big way. CFO Pham Dang Hung has quit the company and the board with immediate effect. If you don't see this as a massive red flag you are either blind or just colour blind.
Pham Dang has been with MySQUAR for four years and apparently wants "to pursue other interests." In a normal company he would have handed in his notice and left after that but he is exiting with immediate effect. The MySQUAR fraudsters say that he will assist with the transition as junior bean-counter Lim Ming Shing tales over until a new book cooker is found.
A CFO/FD walking with immediate effect unless a concrete very real reason is given is ALWAYS bad news. What has prompted this? Perhaps Pham Dang has grown a conscience. I doubt it. Perhaps he wants to put as much distance between his career at MySquar and when it runs out of other folks cash later this year as possible?
The real reason, I suspect, is the fact that regulatory authorities out East are closing in and he is "frit". Pham knows that the FCA, AIM Regulation and hapless Nomad SPA Angel would not care if video footage emerged of the whole board buying crack on the company credit card while taking it in turns to sodomise the office cat. But regulators in Singapore are a different kettle of fish.
MySQUAR is a fraud, it is running out of cash and the regulators are closing in. The target price is 0p and anyone holding the shares - now 1.35p to sell - is just plain bonkers.
PS CEO Eric Schaer and the Spawn of Satan are yet to respond to my kind offer to give them a right of reply when I detail why this is a slam dunk fraud at UK Investor Show. What are they frightened of? Grab your free investor class ticket now by using the code WINNIFRITH at www.ukinvestorshow.com/tickets
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