Notes from Underground – Most read articles for the week ending July 5

The most read, non-Tom, article this week is The View From The Montana Log-Cabin As Gold Retreats In The Face Of Iran Peace (For Now) by Nigel Somerville at number one (or number one with Bearcasts).

1. The View From The Montana Log-Cabin As Gold Retreats In The Face Of Iran Peace (For Now)
   Gold closed the week below the $3,300 mark at $3,273 – a nasty drop from last week’s $3,367 just before Donald Trump bombed Iran. So it is all Trump’s fault!
   
   
2. EXPOSÉ: Catenai results breach IFRS accounting standards, should be restated, I shall report to FRC
   Catenai (CTAI) results for the year ended 31 December 2024 were a predictable shite sandwich. There was a loss of £128,174 leaving net assets at £404,568 after a fund raise in year of £673,200. The fund raise cost £46,800 for gross proceeds of £720,000, a chunky 6.5%. That is not the real crume…
   
   
3. Optibiotix, another letter to the FCA regarding Market Manipulation
   I am grateful to a man from the world of compliance for helping craft the letter below which has gone to the FCA but also to AIM Regulation and hapless Nomad Liam “the Toke” Murray at Cairn Financial about market abuse at Optibiotix (OPTI). If chairman Neil Davidson cared about the company he would step down at once but having awarded himself a 50% pay rise to £66,000 ( for 2 days a month) in 2024, why would he?
   
   
4. Windar Photonics – results emphasise “expected step change in revenue growth”… but it’s already not to be as significant a change as expected!
   ‘Light Detection and Ranging (LiDAR) optimisation systems for use on electricity generating wind turbines’ company Windar Photonics (WPHO) states that it “is pleased to announce the issue and posting of its results for the 12 months ended 31 December 2024”. However, how ‘pleasing’ really is the announcement, as results only just being announced before the shares suspension deadline don’t tend to be ‘pleasing’ for shareholders?
   
   
5. Nine and a half weeks to Sharestock: Mr X is IN to blow the whistle plus a bitcoin in treasury CEO will be grilled
6. We have big news about Sharestock 2025 which is on September 6 at my home between Chester and Wrexham: I really hope to see you there, you can book HERE, as of today there are now just 16 of the 100 places on the lawn left for what should be a great day! For starters Mr X is in!
   
   
7. Greggs – I having cautioned on its ability to manage current headwinds, now a half-year trading update warning…
   Most recently writing on ‘food-on-the-go retailer’ Greggs (GRG), in March with the shares falling below 2000p on the back of results for the company’s year ended 28th December 2024 I concluded I was not confident of it being able to manage sales and inflationary headwinds to currently deliver meaningful trading progress. The shares most recently closed at 1975p, but what of them currently falling to around 1700p on a “Trading Update”?
   
   
8. Lyin’ Steve O’Hara of Optibiotix caught lying yet again, this is getting boring: AGM Strategy and beyond
   When I first threatened to call an EGM to replace a number if not all of the directors of Optibiotix (OPTI) but certainly Neil Davidson and the gimp NED Sean Christie, Lyin’ Steve O Hara begged me not to bother as “all the directors will be up for re-election at the AGM”. I thought this unlikely but could not believe that even Lyin’ Steve would tell such a barefaced lie so maybe what sits in my notes was true. Well guess what?
   
   
9. Bytes Technology Group – having less than two month ago emphasised “well positioned to respond to the evolving demands”, now expects first half profit decline!
   There is an AGM trading statement from company describing itself as “one of the UK and Ireland’s leading software, security, cloud and AI services specialists” Bytes Technology Group (BYIT) today, though less than two month ago it emphasised it was “well positioned to respond to the evolving demands we see in our markets… and deliver another year of double-digit gross profit growth together with high single-digit operating profit growth” – so how’s that ‘well positioned’ playing out?

The most-listened-to Bearcasts this week were:

1. Tom Winnifrith Bearcast No 2: Load up your comments below on todays IM meetings with Lyin' Steve and Lyin' Stuart
   I* start with why we are all, it seems, sexist barstools. Then Optibiotix (OPTI), Skinbiotherapeutics (SBTX) and the Peterhouse B-I-T wankfest then Coinsilium (COIN), Vinanz (BTC), Blackbird (BIRD) and Versarien (TOAST)
   
   
2. Tom Winnifrith Bearcast No1: A balloon debate with Harry Adams, Dave Lenigas, Steve O'Hara and Stuart Ashman
   I start off with Warwick School paedophile teachers, the failure of the CPS, how Warwick covered it up so causing boys elsewhere to be abused and one nonce in particular Alan Wilkins. For it was he who introduced me to the idea of a balloon debate. The main point of this bearcast is discussing today's news from Skinbiotherapeutics (SBTX) and Optibiotix (OPTI) 
   
   
3. Tom Winnifrith Bearcast No 2: GOTCHA! GOTCHA! GOTCHA!
   I look at Argo Blockchain (ARB), Cel AI (CLAI), Skinbiotherapetics (SBTX) and lying outside an RNS, Vinanz (BTC) and Eight Capital Partners (ECP) whose suspension makes it five nil in the Winnifrith vs Zamboni/White contest
   
   
4. Tom Winnifrith Bearcast No 1: Coinsilium and reader John and Optibiotix where the Lyin' CEO now insults his shareholders
   I report back on the campaign ahead of the Optibiotix (OPTI) AGM and, if needed, EGM. And I ask for you to vote against resolutions 2, 3,, 4 and 5 online as so many of you can and to let me know if you have voted thus. Before that, reader John thinks I have got Coinsilium (COIN) all wrong. I have not.
   
   
5. Tom Winnifrith Bearcast: Will you go into battle alongside me on August 6th at noon in London?
   I start with a horticultural triumph in Wales. the sort of thing that gives a 57 year old man a real pleasure. Then Celadon (CEL), more elderflower champagne for the Sheriff, Skinbiotherapeutics (SBTX) and how I'd like you to help me go to war with Optibiotix (OPTI) on 6th August.
   
   
6. Tom Winnifrith Bearcast No 1: It should not be Rachel Reeves crying
   It should be all of us, suffering because of her incompetence. We who have served up legitimate criticism for a year should not be castigated today.
   
   
7. Tom Winnifrith Bearcast: spivs, spivs, spivs everywhere
   I start with a CV lying minister telling lies about job creation, then Peterhouse and the small cap equivalent of shagging Rose West, Wishbone (WSBN), the vermin Gavin Burnell of Globo (GBO) fraud infamy, Cel AI (CLAI) and Optibiotix (OPTI)
   
   
8. Tom Winnifrith Bearcast: troubleswith the IRA man, Sunday Roast is a sewer and I'm still a gold bull
   The title says it all
   
   
9. Tom Winnifrith Bearcast No 1: Two more regulatory enquiries for the discredited Optibiotix board: why you MUST vote
   I have already published the lie that will see me demand that AIM Regulation look at Steve O'Hara. This pre-dated his ill health and just shows a pattern of deceit. The accounting bombshell that should sink clueless FD David Blain and will be looked at by the FRC comes later. I believe that the owners of more than 4% of the equity in Optibiotix (OPTI) have already voted against the board for the August 6 AGM and it may be well higher. We need 15% to be sure of victory but 10% might do it. So please contact your broker and VOTE NOW. And spread THIS ARTICLE which is outside the paywall across social media to get others on board.
   
   
10. Tom Winnifrith Bearcast No 2: Lyin' Steve will be sweating this weekend as the votes mount up against him
    Already I know that we are at 3-4% of the equity already voted against resolutions 2,3,4 & 5 at the Optibiotix (OPTI) AGM. I urge those with online accounts to keep on voting. We can win this one and force change at Optibiotix. As I plan a new ice cream recipe for this weekend I am relaxed. Lyin' Steve O'Hara should be sweating. Make him sweat more. I also look at Georgina Energy (GEX), Versarien (VRS) and in detail at Genflow Biosciences (GENF) with en passant references to David Lenigas.