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Tom Winnifrith Bearcast: forward selling at Versarien & Verditek, lying by Reabold and the countdown to insolvency at Supply@ME Capital
I start pondering retirement, then look at Credit Suisse and Gary vs Chris on buying shares right now. Then it is onto Versarien (VRS), Verditek (VDTK),lying by Reabold (RBD) on its takeover bid, Cineworld (CINE), Ben's Creek (BEN) and that scumbag Adam Wilson and the fraud Supply@ME Capital (SYME)- By Tom Winnifrith |
- 15 March 2023, 16:14 |
Marshalls – 2022 results, how confident to be of ‘in line with expectations’ ahead?
Previously writing on landscape, building and roofing products manufacturer and supplier Marshalls (MSLH), in January with the shares around 325p I concluded that outlook uncertainty saw me continue to avoid. The shares most recently closed at just below 300p and are currently slightly further lower on the back of calendar year 2022 results.
- By Steve Moore |
- 15 March 2023, 16:10 |
A few thoughts on retirement
Retirement is in the news after today's budget. With a hat tip to Luke Johnson, this twitter thread should provoke a few thoughts.- By Tom Winnifrith |
- 15 March 2023, 14:46 |
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The Versarien placing at 3p – another black hole needing plugging? The Brian Berney law suit?
Why do such a fund raise now folks ask? Because it can is the reason, thanks to thuggish share plugging involving bent journalism and forward selling, Versarien (VRS) has an extra £275,000 net cash. Versarien says it is going to be spent on growth opportunities and working capital but that is obviously a lie. Some may go on funding ongoing losses. It could go on giving Neill Ricketts a £197,000 payoff. Or….- By Tom Winnifrith, the Sheriff of AIM |
- 15 March 2023, 13:51 |
Cordel – how “major” is new USA contract award?
Previously writing on transport data technology group Cordel (CRDL), in August with the shares up to 6.5p I noted I retained concerns. The shares most recently closed again at 6.5p, but what of them currently up to 8p on the back of a “New USA Major Contract Announcement”?
- By Steve Moore |
- 15 March 2023, 13:39 |
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Prudential is (still) not dull or boring
I reckon the average institutional investment board is in a bit of panic mode at the moment. Most were not silly enough to put their money into California’s specialist banks, but what they are not used to is a bit of normal volatility. The majority of institutional investors can handle geopolitical crises or an iffy corporate earnings season or even a standard recession, but when you get stuff happening in multiple different directions simultaneously too many react by doing nothing (other than moaning that this is really different from the 2010s). Spot the underlying reality – the aberration was the 2010s!- By Chris Bailey |
- 15 March 2023, 11:46 |
Dialight – to “now rigorously pursue its claims to trial”, good news?
LED lighting for industrial applications company Dialight (DIA) has issued a litigation update announcement including that “following the court's examination of the evidence supporting Dialight's fraudulent inducement claim against Sanmina, and of other related matters, Dialight will now rigorously pursue its claims to trial. If Dialight's claims are successful at trial, the range of outcomes could include the payment by Sanmina to Dialight of between $0 and c. $220m (excluding legal costs and judicial interest)”. So what of a current few percent higher share price today to 205p?- By Steve Moore |
- 15 March 2023, 11:34 |
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Versarien raises a paltry £318,000 at 3p – why the rush?
You want to know why Berenberg quit as joint broker yesterday as Versarien (VRS) also fessed up that Neill Ricketts was still a director earning £16,500 a month despite “resigning as CEO” a week ago? It will be when it discovered that, enabled by the bent journalism of Ian Cowie at the Sunday Times pumping the shares, SP Angel was doing a smash and grab deeply discounted placing to raise a paltry £318,000.- By Tom Winnifrith, the Sheriff of AIM |
- 15 March 2023, 08:16 |
World Class Supplier to the Rag Trade Could Sew Up a Higher Share Price
Hello Share Mashers. I guess a few readers won’t know what Coats Group (COA) does. Well, for a start it goes back 250 years. Put simply, it makes threads, zips, textiles and other stuff for the rag trade.- By Malcolm Stacey |
- 15 March 2023, 08:15 |
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Breaking EXCLUSIVE - Reabold has received, but not disclosed, a bid approach
Since fighting off a sack the board GM in November, Reabold Resources (RBD) has seen its share price slump from 0.28p to just 0.19p. But there is good news.- By Tom Winnifrith |
- 14 March 2023, 16:51 |
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BREAKING: Versarien: Ricketts smoked out by the Sheriff of AIM – loathsome Neill is still a director and on full pay
You thought Ricketts had gone, he had resigned. Today’s bombshell expose HERE seems to have forced the hand of Versarien (VRS) and it has now ‘fessed up. Ricketts and the associated stench has not left the building after all ...
- By Tom Winnifrith, the Sheriff of AIM |
- 14 March 2023, 15:48 |
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Tom Winnifrith Bearcast: Virgin Wines will surely wither and die - another IPO disgrace from 2021
In today's podcast I look at Credit Suisse and the banking crisis, bitcoin, gold, Argo Blockchain (ARB), Online Blockchain (OBC), Mode Global (MODE), Okyo Pharma (OKYO), Virgin Wines (WINO) and Versarien (VRS) in light of the bombshell here earlier today.- By Tom Winnifrith |
- 14 March 2023, 14:55 |
EnSilica – “pleased to announce… ongoing support from our shareholders”. Who’s it trying to fool?
Describing itself as “a leading mixed signal chip maker”, EnSilica (ENSI) has issued a “Result of Retail Offer” announcement it states that it “is pleased to announce” and that it “welcome this ongoing support from our shareholders and look forward to updating the market on our continued progress over the coming months”. So what’s the detail from the 70p per share, up to £0.5 million, offer, with the shares having previous to it closed at 74p and been above 100p as recently as last month?- By Steve Moore |
- 14 March 2023, 14:05 |
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BOMBSHELL: Versarien – did Costain really approve the RNS reach and why is Neill Ricketts still a director?
What on earth is actually going on at Versarien (VRS)? Sources within the company suggest that those who think loathsome, ex CEO as of 10 March, Neill Ricketts has left the company are very wide of the mark.- By Tom Winnifrith, the Sheriff of AIM |
- 14 March 2023, 13:46 |
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Silverwood Brands muddies the water on the £216m Lush scandal – will Andrew Monk’s VSA still book its fees?
Shares in Aquis listed Silverwood Brands (SLWD) are almost untradeable. That did not stop pompous Andrew Monk boasting that his fees for Silverwood buying a stake in Lush from Silverwood’s directors for £216 million (in shares) would ensure that VSA would make a profit this year, having been loss making to the tune of almost a Bernie at the interim stage. Today there is another update from Silverwood showing what utter crap VSA has told investors.- By Tom Winnifrith |
- 14 March 2023, 13:02 |
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When you owe the bank $1 you are in trouble – when you owe it $42m the bank’s in trouble: Canadian Overseas covenant waiver, more death spiral vicar?
Canadian Overseas Petroleum (COPL) continues to breach the banking covenants on its $42 million of senior debt. But what is the bank meant to do? Call in the debt and try to flog Canadian’s shite assets in a market meltdown to try to get its cash back? Really?- By Tom Winnifrith |
- 14 March 2023, 12:20 |
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The comedy continues at Virgin Wines
Assuming you ignore a tiramisu for dessert every few months, it has been over thirty years since I last had any alcohol. Even when I was eighteen it did not really excite me, as back then all that interested me was economics and cycling…and not too much has changed since. Therefore, when Virgin Wines (VINO) says on its website that “more than 90% of our wines by volume are exclusive”, it does very little for me. A couple of years ago, during the deep COVID-19 excitement about internet home delivery, I observed that the then 200-250p share price of the recently-listed company did nothing for me and, with today’s share price just below 45p, it was very wise to call the shares a clear avoid back in 2021. I see today’s H1 2023 results start with the observation of a “strong performance from flagship WineBank scheme despite tough trading conditions”, though the harsh reality is that matters are terrible.
- By Chris Bailey |
- 14 March 2023, 11:18 |
Eneraqua Technologies – argues strong growth, but how confident to be in the order book for the near-term ahead really?
Previously writing on energy and water systems company Eneraqua Technologies (ETP), in October with the shares up to 300p I concluded ‘it’s material net cash generation I’ll continue to monitor for here and currently Avoid’. The shares most recently closed at 350p but are currently heading back towards 300p on the back of a “Year End Trading Update”.
- By Steve Moore |
- 14 March 2023, 11:17 |
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Spotting "winners" with the next Chancellor, Labour's Rachel Reeves
I have already demonstrated that Rachel Reeves MP is perhaps the most economically illiterate person in Halitosis Hall, and that takes some doing. An obsession of politicians is always "picking winners" in the private sector. And so, yesterday, Ms Reeves joined the man who did not prosecute Jimmy Savile, visiting a company I have covered many times before...- By Tom Winnifrith |
- 14 March 2023, 08:49 |
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Medcaw - is it ashamed about Charlie Wood and if not why not?
Medcaw (MCI) listed on the disgraced Standard List just before Christmas as an investment vehicle looking to make an acquisition, yadda, yadda, yadda. Yesterday its shares collapsed by just over 60% to 2.5p as one punter decided to make a sale on a day of market turmoil. There is no liquidity, no demand and maybe this is why.- By Tom Winnifrith |
- 14 March 2023, 08:17 |