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Tom Winnifrith Video Presentation: 11 Ways AIM Companies artificially boost profits to mislead investors

By Tom Winnifrith | Thursday 9 October 2014


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 final talk at the first ShareProphets seminar was by me and looked at 11 ways that AIM companies artificially boost profits to mislead investors. It featured Sefton (SER) and Quindell (QPP) heavily but other real life examples were given.  I thought that it wasa half decent presentation and the audience seemed to approve.,  To ensure that you get priority booking for future seminars (the next one on 13 October is now booked out but we will start taking bookings for 27 October  next week) with 4 talks at each plus free pizza and booze register HERE.

Click here to download the presentation [Powerpoint]

Click here to download the presentation [Powerpoint]


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More on QPP


Comments

5 comments


  1. Scott Sanderson

    Why won’t you update your disclosure to state you have no relationship (working or commercial) with any of the declared shorters of qpp?

    Maybe the info I’ve heard, and waiting to see is true? You know what I’m referring to.

  2. Scott

    I have not got a clue what you are referring to, not the slightest, please go on say it here I promise not to sue you because it will be bollocks.

    I have declared the nature of my working & business relationships with Evil & Lucian who are – I gather – both short. They get money from e not vice versa for specified services ( writing, speaking etc)

    I have no working or business relationship with any hedge fund, Gotham, etc.

    I have my bank statements here just arrived today. Cannot see any mysterious donations. My wife put a few quid in…do you think that she has taken time off from being a sociology lecturer to mastermind a global shorting conspiracy. Gosh, she kept that jolly quiet.

    You are barking up the wrong tree. In fact you are just barking

    T

  3. Scott

    Tom has demonstrated that significant amounts of QPP’s revenue and profit appears to come from covert sales of its own shares by subsidiaries (which if true is entirely fraudulent) and accrued (i.e. estimated) revenues which may or may not turn into cash in the future (which at best is, er, highly optimistic).

    Perhaps you think that this is all a jolly clever wheeze? Or do you think his analysis is factually wrong?

    Frankly Tom could well be Daniel Yu’s long lost brother, or on the payroll of Lucien Miers, or even romantically involved with Evil Knievel. Or perhaps not. I’m intrigued as to how any of these circumstances could affect QPP’s future cash flows.

  4. Tom,
    I sincerely want to thank you a great deal for this presentation. It is both a great help and a warning to small private investors. Accounts seem to get more complex each year and it is often a very dificult process to try and really be able to understand every line and digit. There is no doubt that many companies are purposely dressing or adjusting their statements to aid the investment case and this is a great pity. It may be that many private investors have become disenchanted with many stocks now, following on from the Quindell disgrace. Yes Quindell have been a really true disgrace, and many will have lost a lot of money, and these people will now be very reluctant to invest in other companies especially on AIM from now on. This probably suits the fund managers and they will be delighted as new money will go to their funds perhaps. Anyway Tom, what you have done in illustrating or uncovering such shinanikins is very refreshing and I for one am grateful, and I wish you good fortune with your continuing work.
    Johan

  5. Very impressive presentation Tom, well done. It’s good to see you doing serious stuff, which has a lot more clout than the “shock jock” stuff.


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