UK 09:55 Tuesday, 6 October 2026
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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.
Back in July as David Lenigas raised £4.2 million at 2p for Lenigas Cuba, mug punters like market abuser Chris Oil were told a Standard Listing within 4-6 weeks would raise £5-10 million at 5p. Oh dear, it seems that 13 weeks later the ISDX IPO tomorrow will have seen just £200,000 raised at 5p. Big Dave has bombed! Now wait for the car crash as the maths are dire.
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Comments
Davecandle
Tom – appreciate that you were in a rush to get this out so it was less obvious that you saw the admission doc in my comment on the other Cuba story and wanted to take credit yourself ;) but in the interests of fairness, a couple of corrections.
They have actually spent £790k on the rubbish Aus business – £50k for the options and a £100k further on exercising these options in August and a further £40k was spent on the great travel business they bought.
The rest of the money looks like costs for the 2p round which appeared to be about 7% from the notes in the doc.
However, you seemed to have missed the best bit which is that out of the £200k raised at IPO, Lenigas and Strang put in £100k and £25k is from Edelman and £25k from GIS – his personal cash investment vehicle – sorry I mean a sub of a publicly quoted independent company. The rest was raised through the (not to be criticised) Teathers app.
Tom Winnifrith
Dave
Corrected with acknowledgement. Thx. See bearcast. Migraine. Bed needed
T