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MySquar: admits monies missing, cash almost gone, Schaer doing a runner, placing pulled – shares suspended. Oh what fucking joy!

By Tom Winnifrith, The Sheriff of AIM | Monday 5 November 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.


Oh dear. Oh Dear. I pointed out that MySquar (MYSQ) had lied and committed fraud numerous times – notably with the 31 July 2017 placing – but Nomad SP Angel was happy to turn a blind eye and bank its retainers. Marcus Stuttard and the keystone cops at AIM Regulation were given specific warnings but did nothing. Now the whole thing has blown up so who looks like a frigging clown now Marcus? Is it Tom Winnifrith, the real Sheriff of AIM, or Marcus Stuttard, a man who is meant to regulate but instead turns a blind eye to blatant fraud, a useless not fit for purpose fucking poltroon?

You can see me explaining at UK Investor in a specific presentation the long history that shows why MySquar was a fraud, Schaer a criminal, etc.  Everybody was warned!

MySquar fesses that following  “a review of the account into which the proceeds were paid of the bond issues announced on 7th March 2018 and 20th June 2018” it has reviewed its cash position. Uh Oh! So the monies went to the wrong place. Well that is bad news.

Hence we discover that “The Company's cash balances are very low and it has sought to draw down on the $1m facility from Rising Dragon Singapore Pte Limited without success.  As a consequence there is material uncertainty regarding the Company's working capital position. “

So the shares have been suspended on the AIM Casino.  I told you the cash balances were low and also warned that Rising Dragon would welsh on its obligation given that the criminal family of Erik Schaer, left MySquar (with a huge payoff) a few weeks ago and that Schaer and Rising Dragon face an $8.5 million fraud trial which is now underway in Singapore.  Schaer’s other related party companies  (Mypay) have been dumping shares in MySquar as fast as they can. Quite simply Schaer has made out like a bandit and all the money is gone.

Having flagged up the long term criminal tendencies of Schaer – which AIM Regulation and SP Angel did not care about - I cannot say that I am surprised.

The recent placing with spiv bucket shop SP Angel has now been pulled and MySquar will go bust shortly.

Roll call of shame

Nomad SP Angel ( notably Stuart Gledhill but also main board director John Meyer who washed his hands of this)
Joint Broker Daniel Stewart ( notably David Lawman and arch spiv Jon Levinson
Bucket Shop Broker SVS, happy to raise cash for a proven fraud
Chairman Piers Pottinger, a disgraced PR man turning a blind eye to fraud
Auditors PKF Littlejohn - bloody useless
Lawyers - a team of 5 firms lead by Hill Dickinson in London
PR Man Damien McCrystal, the spawn of Satan happy to explain away genocide in MynaMar as “civil unrest”
Spiv journalist, the ADVFN journalist of the year, Ben Harrington for running false stories about takeovers to ramp the share price ahead of placings.

Ben Harrington is a disgrace to my profession – truly a deserving winner of ADVFN’s joke award  - running stories to order for fraudsters from Schaer to Quindell’s Rob Terry and those criminals at Telit. Shame on him and all who employ him.

I flag up McCrystal’s use of the English language because the way that MySquar trivialised the atrocities in Myanmar was an act of holocaust denial and was shameful.  That and the clear fraud drobve me on here to the usual abuse from Bulletin Board Morons.

Crack out the breakfast ouzo this is another kill for The Sheriff of Aim and another day of humiliation for the AIM Casino and for so many of its well known “players”.


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