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Latest News

BEG
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An Open Letter to Begbies Traynor - please don't make me go to your AGM, just answer my damn questions

I have serious questions relating to corporate governance and related party deals at Begbies Traynor (BEG). I have communicated these to the company today and hope for answers. If I do not get them by next week I shall have to attend the AGM in Manchester and kick up a stink. None of us want that so over to Begbies...answers please. The letter is below.

Bearcast
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Tom Winnifrith Bearcast: That Elon Musk & Tesla are fraudulent lie machines is a FACT so why aren't the shares at Zero?

I reflect on the annoversary of 9/11. I ponder points raised in today's ShareProphets radio show with Carson Block and Anthony Laiker about bull market complacency to fraud. In that vein I use Tesla (TSLA) and the legal case below as a case study. I look at Neil Woodford's latest £12.5 million woes answering reader feedback. I look at Catennae (CTEA), Riverfort Global Opportunities (RGO) and my pal Jim Mellon's Fast Forward (FFWD). I also comment on the latest Burford (BUR) news.

KRM

KRM22 – “slower sales cycle” & funding “active discussion” but argues “strategically we are well placed”!…

KRM22 (KRM) was incorporated and listed on AIM in 2018, the latter seeing emphasised “successful fundraising undertaken saw strong demand from a number of institutional and private investors, raising in total £10.32 million through the issue of 10,320,239 new ordinary shares at a price of 100p” and “identified a clear opportunity to deliver significant improvements for our target customers, through our underlying investments, by providing a suite of cost effective risk management tools”. Today a “Trading Update”

RUTH
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The Grim RUTH – Neil Woodford steps on a £12.5 million landmine

Oh dear. Oh dear. That’s another fine mess you’ve got me into say unit holders in the Equity Income Fund (EIF) and shareholders in Woodford Patient Capital Trust (WPCT) today as hapless Neil reveals another £12.5 million black hole.

GMS

Gulf Marine Services – interims “will be delayed”. Uh oh…

Previously writing on Gulf Marine Services (GMS), last month I concluded including I wish that candidate luck! There should be more detail on what they face here with 11th September-scheduled half-year results. And now… “Re-scheduling Interim Results Release Date”. Uh oh – and re-scheduled to when?...

BUR
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In the Interests of Balance - a Bull dossier on Burford

The latest edition of ShareProphets Radio features an hour long interview with Carson Block of Muddy Waters discussing Burford (BUR) in great detail. In the interests of balance, an investor with a long position, Caro-Kann Capital, has published its detailed rebuttal of Muddy Waters and you can read that report below. On balance I agree with Muddy Waters.

I3E
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I3Energy: Clarity required – Uninvestable

I3Energy (I3E) told us about the disappointing results from its LPt-02 well on Tuesday this week. Gary Newman commented on this and concluded the jury was out on it being a stock to buy or sell or hold. I am rather less positive for a number of reasons. I sold, and remain negative on fundamentals.

CERP

Columbus Energy Resources – further CO₂ pilot project progress

Columbus Energy Resources (CERP) has updated including it has now successfully completed workover operations to survey downhole the AT-4 and AT-13 wells on the Inniss-Trinity IPSC in preparation for future CO₂ injection and enhanced oil production as it continues to advance a pilot project it believes has the potential to transform oil & gas operations in the field and in similar fields in Trinidad…

Collapsing-Reactor

Redemptions Watch: Woodford gains but investors still want their cash back

Yesterday Neil Woodford’s benchmark for his Equity Income and Income Focus Funds, the FTSE All-Share, put on 0.4% - as did the FTSE 100. But his two unit trusts again put on more. Has the tide turned? With a long queue of disasters in the making, I rather doubt it...

TILS

The Appliance of Life Science Looks Exciting for this On the Nose Medical Explorer

Hello, Share Troopers. Previously, I’ve written on the huge potential of life science companies which explore antibodies and antibody substitutes in the fight against serious conditions. Allow me to put another such firm before you. Tiziana Life Sciences (TILS) is biotechnology outfit which uses antibodies to find new treatments for inflammatory diseases and cancers...

Tom
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FREE Podcast: ShareProphets Radio Edition EIGHT with Tom Winnifrith, Frisby, Bramhill & Friel

In this eighth edition of the ShareProphets Radio podcast, sponsored by Yorkville Advisors, in order I discuss my guest next week (the biggest name yet on the show) and Burford (BUR) and the more general issue of revenue recognition. I then chat for about an hour to liberatrian comedian, songwriter and singer, Brexit Party activist, gold & bitcoin guru Dominic Frisby. Prepare for a few laughs. Then it is Cathal Friel of Open Orphan (ORPH), where I am a shareholder, and finally David Bramhill of Union Jack Oil (UJO). After that section I discuss nearology with reference to Union Jack, UK Oil & Gas (UKOG) and more generally.  If you like this and can't wait seven days for more of the same you should listen to my Bearcast every day.

I3E
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Bad news for i3 Energy - but does it still have potential?

Any negative news on an oil drill tends to see the share price getting hammered, and that is exactly what has happened today after I3 Energy (I3E) announced that a pilot well had failed to hit the reservoir that it was targeting.

OPTI
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Optibiotix at 44p worth 97p says its broker Goetz

 Goetz is the company's retained broker so is biased but the 55 page note below which came out today is detailed. I am a big shareholder and regard the target as, of anything, cautious given that the chairman bought shares less than a year ago at 97p. Judge for yourself...

IKA
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Ilika – more ramptastic stuff from long-time loss-making Purdy & the bonus people

Self-styled “pioneer in solid-state battery technology and materials innovation” Ilika (IKA) “announces the offer of a further £0.9m funding directly to Ilika under the UK Government's Faraday Battery Challenge: Innovation R&D, round three, for the 'Granite project', via the UK's innovation agency, Innovate UK… The consortium's expertise, backed by Government financial support, will allow Britain's best talent to be brought to bear, so that the UK can take the lead in this transformative technology”

ESL
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Eddie Stobart Logistics – what about that interest free £475k related party loan to subsidiary company directors?

Looking through the accounts of AIM-listed Eddie Stobart (ESL) to establish who the possible bidder is, in the wake of the company's suspension from trading on AIM on late accounts and an accounting scandal, something caught my eye. The FY17 accounts note a £475,000 interest-free related party loan to directors of a subsidiary company!

Crime-Scene
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Barclays and Lloyds fess up to new PPI horrors...but that's fine

I felt a bit of a fool yesterday morning. No doubt there are some who argue that this should be a perpetual state of affairs for me, but the specific reason was that on Friday someone had asked me about Lloyds Banking Group (LLOY) shares and in the light of the Royal Bank of Scotland (RBS) and shocking CYBG (CYBG) PPI updates, I said something along the lines that 'if Lloyds had something material to say then surely it would have said it by now'…

Collapsing-Reactor
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Redemptions Watch: better news for Neil but the queue of disasters is lining up

Yesterday the FTSE All-Share, Neil Woodford’s benchmark for his Equity Income (WEIF) and Income Focus (WIFF) funds, dropped a further 0.4%. Meanwhile WEIF put on 0.24% per unit and WIFF gained 0.17% per unit. Good news – and Eddie Stobart (ESL) announced a takeover approach. A good day then. Well, up to a point.

Bearcast
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Tom Winnifrith Bearcast: a statistic that damns the AIM Casino as the failure it is

Fake Sheriff of AIM Marcus Stuttard and colleagues what a shit-showeryou preside over. Thanks to Adept Technology (ADT) we have a stat that damns you. I discuss this, the comedy/tragedy that is Providence Resources (PVR)/ Lansdowne Oil & Gas (LOGP) and their Chinese pals. I look at IP Group (IPO), its results, its balance sheet and its association with the stench of Neil Woodford. Apologies to the fragrant Lizard for my words. And I chat about chatting to Carson Block of Muddy Waters about Burford (BUR) and other matters.To get the Carson Block podcast downloaded to your phone register HERE

JSE
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I'm finding it hard to find any reason not to invest in Jadestone Energy!

It is hard to see why the share price of Jadestone Energy (JSE) has dropped recently as there seems to be little reason for it to have done so, and on that basis it definitely deserves closer attention...

WALG
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Filthy Forty: Walcom warns of potential liquidation – time to get the Ouzo on ice, more China shame for AIM

ShareProphets AIM-China Filthy Forty play and member of my slam-dunk sells for 2019 Walcom (WALG) has warned again about its financial position – but this time the warning is more direct than before. If you hold shares, now really is just about the last chance to get out for suspension and a trip to the corporate undertakers could come pretty much any time. The company tells us it expects to have enough cash to mid-October, but "expects" and certainty are two different things...

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ANP

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Bearcast issue update: all should be well

 

ORCP

Oracle Power: Cynical Foul

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