UK 11:26 Sunday, 4 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
In the run up to September 30th Quindell (QPP) faces not only a critical cash crunch but also the unpleasant task of filing annual returns for a host of associate and subsidiaries and these will – I guarantee – prove to be a veritable red flag forest. The first of these reports is now in, Brand Extension, and this will shock even the #QPPSAG as they ask where shareholders cash has gone. Do Nomad Cenkos and broker Canaccord – to whose compliance department this article is going – have no qualms about this company?
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Comments
Forty two
I’m sure Rob Fraud is a happy and decent chap. With many children and Ferraris. Oh there goes my predictive text. More on DCD please? Good work mind. I find the truth exhilarating.
Craig
Tom, you are a master of critical research. Whilst I am speculative in my investments I wouldn’t even dare get involved with QPP, and a lot of that is thanks to your investigations and those of others such as Paul Scott, EK and Gotham. Keep up the good work,
Forty two
I meant Mark Terry. It’s a bit confusing when they are all in each others trough.
Clive Da Costa
Gets worse day by day. Not sure what the business model is here but I am out on my small punt at a loss but at least enough left for a latte and croissant.
andrew brown
Tom, this is gripping and I am happy to be out of QPP – largely from your excellent work. I wait to see the next chapter. For me red flags are red flags and just move the investment on to another company with no red flags that you like and cut your losses. Take the hit and don’t get emotionally involved. Keep up the good work
Forty two
I confuse Mark Fraud with Rob Terrible Understanding of how to create a business. They do entertain though. Until prison.
Clive Da Costa
1p maybe generous.
Lonster
Kalimera Tom. Excellent work, this really is intriguing and I don’t know how you keep up with it all. Looking forward to see how this story unfolds.
Al
Surely shorting, will only make evryone millionaires? this is a massive ponzi scheme brewing. shame it hasn;t gone sub 10p yet.
Doug
excellent!
It’s fun re-reading quindell’s response to GCR relating to the accusation of paper companies:
“Quindell only acquires businesses where Quindell can add significant value by bringing new customers or relationships”
and
“All the acquisitions listed by Gotham fall into one of these two categories and have clearly been announced in this manner via RNS. Therefore, we can only assume Gotham has failed to research this or is seeking to mislead investors.
All of these acquisitions have either completed their warranties for profit and cash generation or are on track or exceeding targets to do so.”
HAH!
Turbomuncher
Hmmm…. Very interesting, TW, that none of the usual QPP fanboys have commenced any standard ad hominem attacks on you in the comments of this article yet! There really isn’t anything they can argue with here. It stinks.
So this week we have the revelations of TW’s digging (great work btw), rumours of RAC deal collapse (which QPP have not RNS’d on and RAC have remained silent) and the new regulatory reforms announced for Med Reporting Agencies (QPP own Mobile Doctors and will undoubtedly bit hit by this big time).
TW – might be worth a deep dive into how the new Med Agency reforms will hurt QPP’s margins?
Haigha
The QPP network of companies, work colleagues and friends reminds me of BCCI but without the spooks and aggressive criminality. The trading update of ten minutes ago raised a chuckle. Playing for time?
DomCoop
RNS Quote:-
“Certain contracts being restructured to ensure the optimum return on cash resources but both profit and cash guidance are not dependent on any upside from these initiatives”
oh dear oh dear.
I hear that Bubba in D wing is getting hot in the summer sun…
addick
Any comments about the latest RNS?
alcira16247
As QPP’s share price seemed to be in free fall, particulary after your Brand Extensions – Skillwise piece, they released a very positive RNS which was well received by nervous investors.
What’s your take on their statement? Cash flow positive etc etc. Think sentiment may start to improve?
Kind regards
DomCoop
@ alcira16247. But it wasn’t a positive RNS was it?
No a positive RNS would have been “There has been speculation over JV with RAC, and we can now confirm that it will not be going ahead as originally envisaged. The reasons for this are outside of the board’s control and are basically because it was envisaged that the JV would be funded by sale of shares which at the time of the JV’s planning were trading at a considerable premium to today’s market value. This is a disappointment for the board but we are actively consdiering alternative ways by which we can increase shareholder value by working with our partner on a smaller-scale contract.”
It would be honest, believable, and reassure that there is nothing to hide.
A load of bollocks about cash being “positive in July” , which frankly is a meaningless statement that affects nobody, but is obviously intended to encourage moron private investors to blow what’s left of their childrens’ inheritance, with a gigantic red-flag warning about “certain contracts being restructured”, is not going to reassure anybody with an IQ over 30.
Kevin Taylor
Tom,
This looks like a golden hello for somebody. By structuring the payment in this manner whomever has been “paid” will have received an amount that is taxable under CGT rules rather than with income tax and NI.
Tony5
Tom, I am not an investor in QPP, but have followed the ups and downs of the company over the past few months, and the high dramas accompanying it. I must compliment you for your hard work. I know that even sometimes as in investor in a company, where I may have invested thousands and thousands of pounds, I am ashamed to say that I have not done anywhere near as much research at times, including going back thru old company filings etc, to investigate and analyse and research what may be going on behind a smoke and mirrors routine, hidden behind the outer confidence and smug satisfaction of the directors and other ramping investors. I have to take my hat off to you, for the serious investigation and hard work which you have performed here. Of course for investors who have invested here without your level of research, perhaps it is a lesson to them too, in future, to dig deep in research, before investing, although as I have said, I have failed at this miserably too. It is obvious, despite the hatred and outraged indignant screams of hosility that are loudly voiced against you by some, that in fact you are providing information and a research and investigative service which adds great value to the vast majority of potential investors in the AIM market. Keep up the good work Sir, and please remember, despite the hysterical screams of hostility from a vocal outraged minority, that the vast vast majority of investors are very very grateful for your hard work and investigative research, and it is people like you who are protecting the vast majority of investors in aim, from more ruthless and unprincipled cowboys in expensive suits, who are happy to part investors from their hard-earned, with silky, smooth, confident blandishments, which are nonetheless totally devoid of any morality or truth.
I take my hat off to you Tom.
You really are The Man!!
Keep doing what you are doing Tom.
Many many of us really appreciate it!
Thank you Sir.
alcira16247
Just like to endorse, 100% the very good post of Tony5.
Tom, you possess a commodity that’s rare these days – integrity!
Gilly23
Tony5
I agree with everything you say, you have worded it better than I would have done!
keep up the good work Tom
Mark
Good work there Tom, that must have took a few hours sorting. Ever thought about joining the Met?
Oxford Whale
Hello Tom,
On page 30 of the Gotham Report there are a whole list of similar transactions carried out. I am certain if you dug further into them you would find more and more red flags.
For instance there was the acquisition of Simon Hall Associates in 2012 (a shell company with no assets or revenues, acquired for £1m by Quindell only 2 weeks after it was incorporated). I asked the bulls about this on the forums and I was assured it was all “above board”, and basically amounted to a “golden handshake” for Simon Hall, who was joining as CEO of Quindell motor solutions (he is now the CRO of quindell), in the hope he would drum up a load of extra business. When I asked why Quindell couldn’t just pay the money directly to him as a bonus (or in fact pay him AFTER he had delivered the results, like any new employee with no track record at a large reputable company would have), all I got was silence. Perhaps someone could enlighten me?
I would also be interested to know where Simon Hall worked between 1999 and 2005, as this info seems to be missing from his linkedin page for some strange reason……
Keep up the good work.