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Minds + Machines Group – investigation finds accounts ‘incorrect’, CEO & CFO “resigned”… on what terms?

By Steve Moore | Friday 30 October 2020

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.

Previously writing on internet top-level domains owner and operator Minds + Machines Group (MMX), earlier this month with the shares at 5.25p I concluded an “investigation will focus principally on a specific contract”, not ‘solely’, and that overall stated revenue for the half-year was $8.4 million and for full-year 2019 $18.9 million. With a market cap of still more than £47 million, and ahead of “further announcements will be made in due course”, avoid / sell. Today “Statement re: Contract, Investigation & Board”…

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