By Tom Winnifrith, The Sheriff of AIM | Saturday 2 November 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.
News last week that AIM diluter in Chief (and that’s saying something!) Charlie Wood of Northcote Energy/Mayan Energy/Attis Oil & Gas (AOGL) reincarnations has departed stage left at Attis brings to a close a quite unprecedented record of dilution on AIM. This individual raised more than £15 million over the last few years and, in the final analysis, produced the grand sum of just over £100,000 cash at the last set of interim results and a de minimis amount of oil from the company’s Texan oil fields. If ever there was an abject illustration of how AIM is run for the cosy cartel of Nomads, brokers, PR companies and inept management rather than shareholders this is it.