Identity technology group GB (GBG) has announced an initial £5 million (including £0.5 million of shares), and up to £6 million, acquisition of Transactis, an aggregator of customer transactional data and provider of anti-fraud and marketing-related services to both the private and public sectors in the UK. With I having previously doubted the stock market valuation of GB, the following updates.
The morning after the night before. That is to say my presentation yesterday on why Quenron (QPP) is worth 0p a share. The full video of that will go live within 36 hours ( as will the 3 PLC presentations) and I discuss a bit of this and other Quinnovation Group matters in this podcast. But there is more, much more.
This came onto my desk yesterday and is a true horror story (unless you are a bear). Of all of the stinking Quenron subsidiary accounts to emerge so far this is arguably the one that stinks the most. But I still have plenty more to go through so I will not award the “stinkiest Quenron subsidiary accounts 2013” title just yet. I covered the POS that is Maine Finance Ltd in a preliminary way yesterday night in a 40 minute presentation showing clearly that Quindell was a fraud and worth 0p. The video of that talk and accompanying slides will go live within 36 hours and the 2 PLC FDs in the room were horrified by what they heard. But back to Maine Finance Limited.
In my 'Short positions table to check as markets continue to fall' piece, I noted that the share price performances of the linked companies suggested that investors may want to double check if they are on the other side of the trade to these seemingly shrewd investors. The following details the current outperformance from the initial ShareProphets strongly bearish coverage of the noted companies. And for some reasn I missed out Naibu (NBU)!
One of the highlights of my 2013 was Malcolm Stacey’s departure from the Evil Empire and arrival here at ShareProphets and a great memory of 2014 was the day we spent together around the time of the UK Investor Show. Malcolm really is one of the nicest and most decent guys in the world of shares. But what he has written today I fundamentally disagree with – as Malcolm well knows!
Hello Share Pushers. Let’s take a look at ethical investing. I have not led a blameless life. There are people who really dislike whom I used to be. And thinking back I can’t blame them.
Valiant corporate crusaders, brave seekers of truth and scourge of whitecollar crime, Gotham City has broken cover after months of silence. In the wake of Quenron’s (QPP) disastrous trading statement released today and Gotham does it mince its words. It has just posted two tweets in the past 90 minutes which read:
Quite simply I have never read such complete and utter bollocks in my life. As I write Quenron (QPP) shares are down by a couple of pence at 151p. That is despite it issuing a trading statement which was meant to appear extraordinarily upbeat. In the old days the stock would have jumped by 20% on this sort of bull. But these days investors seem to be waking up to the fact that it does not add up, that the company is talking patent bollocks and that the cash situation is clearly critical. Chuck in the Red Flags from subsidiary accounts which are landing thick and fast and this one is now in a a rapid spiral towards death.
At the inauspicious time of 6:02pm on Friday, currently suspended from AIM, SnackTime plc (SNAK) announced a, conditional on General Meeting approval, “subscription of 12 million new ordinary shares at 15 pence per new ordinary share, by Versatel Co Ltd, a company associated with Mr Boris Belotserkovsky, raising a total of £1.8 million (gross)”. Adding that “following admission the Belotserkovsky Concert Party will be beneficially interested in 17,266,400 ordinary shares, representing approximately 53.7% of the enlarged share capital”, the following reviews.
The FTSE 100 is not plunging. But it will be coming off and some individual company share moves tell you an awful lot about the state of the stockmarket and I am not only talking about Quenron (QPP) which of course gets a good mention in today’s podcast.
Oh dear, The Quenron (QPP) shareholder list does contain more than its fair share of complete and utter nutters. On an almost daily basis I am alerted to a post which has been made by someone who really is truly bonkers. I was entertained to see some cretin on ADVFN discuss the “TW Red Flags” on Quenron – apparently having a strong opinion which is not buy is deemed a Red Flag. However, The Bulletin Board Moron of the Day is “Mr Palmer” on the LSE Board. On a day when another Quindell nutter who boasted on twitter of having a "hitlist" which included myself and Dan Levi has been reported to the Old Bill (not by me as I regard the Met as useless), Mr Palmer takes centre stage.
What is happening at New World Oil & Gas (NEW) is simply outrageous. This is fast becoming the perfect case study to demonstrate why AIM is in such desperate need of reform. Not content with the royal shafting it has already inflicted upon its shareholders, the wretched board of this wretched company has the nerve to claim its actions are being done in their interests. New non-executive chairman Chris Einchcomb must have had a good belly laugh when he said his fellow porcine directors are “committed to… maximising the value to shareholders and believes the actions taken above are important steps to achieving this”. Retaining Bill Kelleher on a consultancy contract so he can “repay” the loan he took out to participate in March 2013’ controversial placement is hardly the act of a board committed to maximising shareholder value. No, it’s more a case of the parasites bleeding every last drop from the now rotting carcass that has been such a generous meal to gorge upon. These people give leeches a good name.
At the weekend we updated the ShareProphets Bear Portfolio compiled by myself, Matt Earl, Lucian Miers and Evil Knievil. So far our average sell is down by 18.2% in just over three months. Better days lie ahead. But which of the ten stocks we expect to slump do readers think will crash most by Christmas. You said:
I know who poster 42 is and he knows more about Quenron (QPP) than any analyst currently covering the stock in the City. His comment on the trading statement today is bang on the money (or rather lack of it). I shall post my own thoughts later once I have gone through a couple more bogus subsidiary accounts. 42 writes:
And this is why the AIM casino is such a farce. The interests of fat cat directors are simply not aligned with those of the owners of far too many companies, that is to say mug punter shareholders. Maybe they cannot be arsed to read Annual Reports but they should and they should be revolted and revolt. Meet Peter Hill, the CEO of casino listed Global Petroleum (GBP).
I am told that the accounts of Quenron (QPP) must be kosher because the global accounting giant KPMG has signed off on them. KPMG knows all about accounting and I am just a failed fund manager/pizza delivery guy/blogger so clearly know nothing. Hmmmmm, I fear that some folks are in for a rude awakening.
I regard the sanctions the West is imposing on Russia as wrong and our policy as both misguided and likely to backfire. Nowhere is this more obvious than in the world of oil and gas. My colleagues at Palisade Capital this week recorded an interview with Marin Katusa, the Head Energy Strategist for Casey Research, who explains this far better than can I.
Tom Winnifrith has described in detail how Ingenie, a subsidiary of Quenron (QPP) filed an abbreviated set of numbers for its 2013 Accounts to Companies House, claiming a smaller company exemption when it was not entitled to as it was part of a group of companies which included a listed plc – and, indeed its business was in insurance. Tom wonders why – is somebody trying to hide something? But is is not just Quindell which seems to be playing this game….
Howdy Share Fans. There are lots of crucial choices we have to make as share shifters. All of them are brain-hurters. Perhaps the worst of them is: how long should we hang on to a penny share, which has just stormed into life?
And so Quindell Legal Services, the biggest part of the Quenron Group (QPP) has filed its accounts. Also of interest is the fact that it filed two annual returns for last year. Would Quindell care to deny that it had a spot of bother with its capital adequacy forms filled in with the FCA? That might explain a few of the red flags but not all.
The May edition of the UK Investor Show Magazine is live featuring three share tips from Gary Newman, the Greek meltown is worse than everyone thinks, and the EU is not fit for purpose plus a photofeature from the 2017 UK Investor Show.
The busting of a placing by AIM-listed UK Oil and Gas (UKOG) at 1p by Tom Winnifrith has caused a bit of controversy. It is not the first time he has been accused of being irresponsible by blowing the lid on a placing only for it to be pulled or the price dropped. Anyone left holding the baby gets their fingers burned – in the recent example quite badly if they had been buying into the ramp at north of 1.4p only to see the company raise cash at just 0.8p. Is it right?
The nauseating Mail on Sunday fawned upon Pippa Middleton and her ghastly family as they celebrated the "wedding of the Year". Bring on the revolution! But perhaps the real wedding of the year should be between our two very own in-house Bulletin Board Morons GrannySnuffs & Wildes who seem made for each other. can you find examples on the LSE Asylum, iii, ADVFN or twitter of comments more idiotic than those of our own dream team? If so post in the comments section below, the deadline is midnight Sunday 28th May.
Having bought itself some time by declaring an initial sack-the-board General Meeting requisition “invalid” (a revised, valid requisition announced by it at an attempted ‘no one watching o’clock’, 5:15 pm, on Friday), Infrastrata (INFA) has this afternoon made a “Review of stategic options & project update” announcement...
AIM-listed travel agent and wannabe Greek holiday resort developer Minoan (MIN) announced a small bolt-on acquisition this morning….and a placing. Oh, and an update on its debt facility due to expire at the end of June. It is disappointing to see a placing (at 9p), but in the general scheme of things it is a relatively small amount so the pill is sugared to some extent.
It was a keen competition this week. But we have found a winner.
Take a look! European investors are clearly failing to grasp the very significant financial and commercial benefits available for Orphan or Rare Disease drug developers. So much so in fact, that sector-focussed Amryt Pharma (AMYT) finds no quoted peers in London, yet a good basket of NASDAQ-listed comparables are seen to command a significant premium despite mostly being pre-revenue and somewhat earlier in their development. Such anomalies can and, of course, do rapidly correct.
Any reader of my pieces will know I hold Challenger Acquisitions (CHAL) in pretty low regard but the outrageous ramping that has now gone on for the last four trading days is an absolute disgrace and the FCA should take a look. I’ll explain.
I have already covered the dire financials of Eden Research that indicate it is just months from trading whilst insolvent as well as its panning by the Financial Reporting Council (FRC) - in response to my urgings. Now to today's monstrous half truths - I am perhaps being 50% too charitable in that description.
Eden Research (EDEN) has today published godawful results and admitted that my very good friends at the Financial Reporting Council (FRC) investigated it - after I requested such an investigation - and have forced it to restate past numbers. It claims that the FRC has now settled all matters. Au contraire. that is another lie from the fraudsters and there are many more porkies in this statement. Truly, the pants of shamed PR Paul Queenie McManus of Walbrook will be cinders and ash after this effort. This all came out as Eden published Godawful numbers for calendar 2016.
The sold-out success that was the 1st April 2017 UK Investor Show again saw five 'Dragon's Den' sessions where a number of CEOs each gave a pitch and three Dragons each picked one stock for a £1,000 investment. How are they faring so far?...
With some great investigative journalism of which this website would have been proud, Brokerman Dan flushed it out a few weeks ago. The former bank robber - correctly - stated that Andalas (ADL) was looking to raise £1 million at 0.06p and the AIM listed crock of shit suspended its shares. Today they are unsuspended after the company raised £600,000 at 0.1p. It says this is at a premium to the suspension price. But it is a spoof, Andalas is still bust. It is insolvent as of today!
Malcolm Stacey is old enough to know about King Canute. In fact he is so old that he was there as a boy when the King sat in his chair on the beach and attempted to turn back the tide. Malcolm surely you remember the day as if it was yesterday? In which case why do you forget this valuable lesson when it comes to Inmarsat (ISAT) and your article today in which you misquote me and get it wrong in so many other ways.
"A credit crunch is brewing and when it happens, the UK is going to get hurt." These are not my words but the start of the Editorial in this weekend’s Guardian. The article then went on to say "That is the message emerging from senior executives in the financial services industry, who do not think Britain has changed that much since the 2008 credit disaster and the devastating crash that followed. Three developments lie at the heart of this disturbing analysis: spectacular growth in the sale of second mortgages, car loans and credit cards." I would heartily agree with these comments as this is my experience too. But what the article fails to say is that the UK is not alone in this debt bubble - once more it is a Global issue.
Hello Share Scoopers. There have been quite a few occasions now that I’ve commended a Footsie satellite company to your attention. On each mention, as I recall, the share grew in value. However, last year the shares took a big knock.
One of the most fascinating scenes I’ve seen for some time is the sight of Big Donald jigging around with some sort of weird entertainment put on by the Saudi’s for the President's visit. It almost made me forget the big benefit of this amiable state visit on share shifters like us. And that of course is that the President’s friendly reception sent the oil price up.
An announcement from Corero Network Security (CNS) with a headline “Corero Tier 1 Internet service provider customer GTT Communications, Inc. launches DDoS Mitigation service”. Then “further to the announcement on 19 April 2017 regarding a Global Tier 1 Internet service provider customer win… announces that the customer, GTT Communications, Inc. (NYSE: GTT), has launched its DDoS Mitigation service”. “Global Tier 1” now hey! And you what? The contract win has already been announced? Ramptastic…
Together Robert Sutherland Smith and Tom Winnifrith have now been working in finance for 71 years - the last ten or so together. Tom wishes to stress that RSS accounts for most of that, the great value investor starting his City career at the Unilever Pension Fund the year before Tom was born. In this book they outline 71 tricks of the trade for making money from shares.
Get the first ShareProphets Pocket Guide ebook, EIS - Buying shares with numerous tax breaks. Want to cut your income tax bill, get loss relief if your AIM listed shares go down, pay no CGT, avoid IHT - EIS could be the way and this book explains how.
Most investment books seem to be large enough to keep the front door open and while some contain gems it is hard to find them amid the verbiage. The aim here is to produce a short guide which simply cuts to the chase. I hope that it will provide food for thought for everyone from beginner to expert but whoever you are it should be quick and easy to read and digest.
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