By Tom Winnifrith, The Sheriff of AIM | Tuesday 12 February 2019
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.
The whore blogger Malcolm Graham Wood and Frontera Resources (FRR) repeatedly asserted that legal claims against it had no merit and would be thrown out. A Judgement handed down on 22 January, which we publish below, shows that was not the case. The Judge slams claims made by Frontera in the case against lender Outrider as "fantastical" says that it is "strongly arguable" that Frontera is insolvent and rules against the formerly AIM listed POS.
Of course, since it was still listed on AIM when this judgement was made Frontera should have fessed up. It did not, instead it said nothing and insisted it had a strong future as a private company. That is a breach of AIM Rules and the FCA is almost certain to widen its enquiries as a result.
Defeat in this case lifts the injunction stopping Outrider from seizing Frontera's assets. Frontera will face a steep bill for costs which, with no cash, it has no hope of meeting. It is game over for the company and the shysters who ran it.
The document below is a damning indictment of a company that has been insolvent for ages and lied to investors about its true position while seeking to secure additional finance. It was a fraud. It will soon be bust. One can only hope that the FCA acts with an iron fist.
I wonder how the whore blogger will explain this away...
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