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Following on from today's truly shocking results from Lombard Risk (LRM) covered HERE I have more questions for the company not least on how secure is its overdraft on which it is, I suspect, already reliant and on the quite disgraceful salary compatibility review. Talk about rewards for failure. Then I look at Defenx (DFX), another horror story, before issuing a wake up call to our own in house Bulletin Board Moron Wildes and looking at Angus Energy (ANGS) and finally Dialight (DIA). Meanwhile it is now less than a month to the olive harvest and Greece. I cannot wait.
Less than a month ago cyber-security software group Defenx (DFX) was “pleased to announce” first half of 2017 results, including that it “is satisfied with year-to-date trading”. Today a “Trading Update” includes expected “financial results for the year to 31 December 2017 being materially below market forecasts and the board currently expects to report a loss for the full year”. Uh oh…
Yesterday afternoon Dekeloil (DKL) issued a correction to a Q3 trading statement published on 18 October which, for reasons I cannot fathom, was not accompanied by the sacking of the company's FD.
Putting a portfolio together involves making decisions by comparing and contrasting one company against many others and wrapping it all up in some overriding sector/macro strategy. Simples, right?! For reasons too obvious to state, the financial sector had a shocker during the global financial crisis and which, in due course, led to the creation of a new competitive grouping - the 'challenger banks'. As one traditional name (Lloyds Bank - LLOY) and one new challenger name (Metro Bank - MTRO) have both reported today, let's compare and contrast and see if either pass muster. Prepare the cage...
A previous announcement from OptiBiotix (OPTI) we lambasted as non-news, but noted we expected a rally from the then 65p-66.5p on real news for which we will not be waiting long. The company is today “pleased to announce” a three year supply agreement with Spain-headquartered pharmaceutical group Galenicum “to commercialise products containing OptiBiotix's cholesterol and blood pressure reducing strain, LPLDL”.
I have repeatedly warned that Lombard Risk Management (LRM) was hexed the moment that Phil "interX" Crawford seized control. Today's interims validate that thesis - all the money's gone!
Shares in Ariana Resources (AAU) have briefly exceeded 2p earlier this year, but are currently back below 1.5p despite a seemingly positive outlook for precious metals and a 50:50 joint venture in Turkey now an emerging producer - this week having already seen a production update from the company...
Hello, Share Swipers. Where would we be without power cords? Your kettle, computer, telly, shaver, washing machine and all the big-time essentials of modern life would be useless. Which brings me to Volex (VLX).
Owner of RedLeg Spiced Rum, Blackwoods Gin and Vodka, Blavod Black Vodka, Jago's Cream Liqueur and Diva vodka, Distil (DIS) has announced results for its half year ended 30th September 2017 and that its “key brands have outperformed each of their respective categories overall during the period”. However, the shares have responded currently 4% lower back to 3p…
Whitbread (WTB) has had an up-and-down year since my last update on the stock - HERE. The Costa and Premier Inn operator unsurprisingly has been impacted by the changes in perception towards the strength (or not) of the UK consumer and this has pushed the shares between a £36 and £42 range this year. Today's interim results have again pushed the shares towards the lower end of this range despite the company reiterating its hopes for the full year.
UK Oil & Gas (UKOG) may be out of cash and needing to raise £10 million PDQ. It has tried the old French bid ruse but was exposed, it has tried billions of barrels claims but been exposed so how to ramp the shares. Okay Big Dave may have sold many of his UKOG shares into the last6 ramp but let's not discuss that, the cash crisis, the refusal to admit flow rates or go for any hard analysis. It is time to wheel out Big Dave for an uber soft interview c/o the LSE Asylum with a man who makes Graham Norton on Crooked Hillary Clinton seem like Frost on Nixon The shares are up by 2% on this ramp, a chance to sell some more at 4.45p
Erik, your company MySquar (MYSQ) has committed securities fraud so I guess that makes you a fraudster. Do you think that is libellous or will you accept that I have a solid defence, viz I write what I have already proved to be 100% true: Go on you criminal low life scum please threaten to sue me? In this podcast I ask more questions about MySquar and suggest that Beaufort Securities might just put Erik out of his misery. The shares are now 1.8p to sell and 0p is inevitable.I also look at another zero in waiting BNN (BNN) where today's whitewash stinks., Finally we have a profits warning at Carpetright (CPR) which tells you all you need to know about the British consumer and his nightmare on debt street. I once again discuss BCA Marketplace (BCA) in this context. The big short.
The timing of last week’s short call on Telit (TCM) was somewhat spoiled by rumours, fuelled by a story in the FT, of a bid for part or all of the company. Rothschild was said to be gauging interest in the automotive division with a price tag of £100-150 million, “according to two people briefed on the situation”. It was hinted that the obscure Chinese fund, Run Liang Tai Management, which has recently acquired 14% of Telit might bid for the whole company.
I sense that this is the start of another pump before the dump of yet another bailout placing by the free speech-denying tossers at Audioboom (BOOM). Today we have news that Oli Walters has joined as head of UK sales. Oli pretentious millennial twist on Oliver perhaps? I am sure that he will fit in brilliantly and help rack up an admin overhead which is now closer to £600,000 a month than £500,000.
I like Paul Atherley of Berkeley Energia (BKY). He is honest, likeable and capable and runs a company that looks very interesting indeed - yes we have a few shares!. That puts him in the 1% as far as AIM bosses go. And so here is a message he put out today,. If you are bored and fancy a drink next week and happen to be in the hell hole that is London...what Paul says in their message should get you excited about his company. Over to Mr Atherley...
Bathroom and kitchen products manufacturer and supplier under the Triton Showers, Vado, Croydex, Abode, Norcros Adhesives, Johnson Tiles, Tile Africa and TAL brands, Norcros plc (NXR) has recently updated encouragingly on trading, yet the shares have thus far responded quite modestly – and only returning them to the 180p at which they commenced this year.
On 4 September shares in AIM listed China, er.. investment, BNN Technology (BNN) were suspended as the FD quit making serious allegations about founder and CEO Darren Mercer and CEO of China Ops Wei Qi. Today came the whitewash. Remember that shareholders not the board own any company.
Hello, Share Creepers. Does the term ‘shipping’ annoy you as much as it does myself? This is the hateful American term for delivering something to us. So companies, which try to be trendy, charge us for ‘shipping’ when the merchandise comes in a Postman Pat van, and has never seen the sea. But let’s look at a company which does proper shipping.
I’ve previously been wary of rare books and collectibles group Scholium (SCHO) – stating I await evidence of the company making better returns from its asset base. The share price has though recently been rising – today on the back of a “Trading update and establishment of stamp business” announcement…
Previously writing on Dialight (DIA) with its shares having recovered to above 1100p, I noted that suggested I’d been too cautious on it recently but that I considered the valuation excessive – and to leave precious little margin for error. The shares had since retreated to close last week at 815p – and there’s now a trading update noting “short-term production challenges”…
Another day, and another set of expenses claimed by Julie Meyer MBE as being "on company business" from Ariadne Capital Limited, now in administration. Staff who were paid late or not at all, investors who have lost everything and the HMRC who will surely see these as more benefits in kind on which Julie should have paid tax, will be horrified. Natch this document has gone to the HMRC. This is October 2014 and is a retail special. Although the Co-op entry, 11 October, is a total hoot.
Oh dear Julie Meyer. This document below which has dropped into the hands of the Winnileaks service is already with one of the FOUR investors in your companies who is suing you and he is adding it to his case. It will be with the FCA and MFSA later today for it indicates a wholesale fraud on your part. It is dated 13 November 2017.
I start with confirmation that Brokerman Dan and I really are doing a Horse Hill to Woodlarks charity walk on 28 July. Are you free and would you like to walk too? If not just give us your cash ( as Dan used to say in different circumstances in the old days). More details here I then comment on the latest year on year newspaper circulation stats (below) - what is happening, why and what it means.
When Sosandar (SOS) listed on AIM at 15p late last year, the forecast was that sales in the year to March 31 would be £1 million. Now we learn that they were £1.34 million. How many companies beat forecasts by that much in their IPO year? This is a special company as anyone who watched the two birds who run it HERE will know. This is not just about sales. It gets better for we loyal shareholders...
Oh dear. Two grovelling letters from tax evading Julie Meyer have come to me via Winnileaks. It seems that her US assets ( 2 flats) are now under lien to the taxamn (the IRS) as Julie forgot to pay any Capital Gains Tax on the sale of First Tuesday in 2000. She is now begging for a payment plan.
It is just over a month since I updated on my trawl to find big dividends which might be safe in a market environment where I don’t see much upside and plenty downside. Having originally settled on BT (BT.A) at about 225p on a yield of just shy of 7%, I added ITV (ITV) at the last count, paying 143.7p. That puts its dividend at 5.4%, although it went ex-dividend before I bought. Meanwhile I finally succumbed to the attractions (as I saw them) of Centrica (CNA), paying 142.95p ahead if its final dividend. How are things looking?
A “Business Outlook Update” from computer vision technologies company Seeing Machines (SEE) - following an announcement on Wednesday of “Australian Distributor Expands Guardian Commitment” and on Friday of “European Commission Agenda Affirms SEE Tech”, which together saw the shares up from 6.6p to 8.55p. Surely good news then…
As we saw earlier, Julie Meyer has told the US taxman, the IRS, to who she owes vast sums, that her only source of income is - illegal - director loans from Ariadne in Malta. Unfortunately that is a lie. Because, thanks to Winnileaks, you can see below a letter from a Swiss company Vestergaard where Julie is a director detailing her pay in 2017. Check its website and you'll see she is still a director. Ooops, I bet Julie hopes the IRS don't find out about that. Sadly for the devout Christian...
The People’s Operator (TPOP) is one of a number of AIM companies where you have to wonder whether there is really any point in it continuing to stay in business, other than generating fees for its brokers.
As we saw earlier Julie Meyer MBE appears to have forgotten to pay any tax on the Capital Gain she enjoyed when selling First Tuesday 18 years ago. Sadly for her the US tax authorities at the IRS have caught up with the devoutly christian tax avoider but are not demanding all their cash at once because it appears that poor Julie really is flat broke. Thanks to Winnileaks I bring you a filing Julie made to the IRS.
If Italy’s neo-anarchist "Grillini" had combined with anti-euro Lega nationalists two or three years ago to form an insurgent government, it would have set off panic in the bond markets. Yet now that this is upon investors, risk spreads have barely moved as Bond purchases by the European Central Bank and negative rates have enveloped Italy with an enormous comfort blanket as most investors think there is no chance that the ECB will let Italy go down, because it is the end of the European project if that happens.
As I head off to Greece later this week it will be to start training at altitude in the Taygetos Mountains. Only kidding. But i have been taking to the gym and starting some modest walks. I really do not want to be shown up too badly on 28 July when Brokerman Dan Levi and I walk from Horse Hill to Woodlarks.
Hello Share Strikers. In recent weeks, nay months, I’ve advocated buying shares in the big oilers, like Shell (RDSA) and BP (BP.). I was very lucky here. And I still think there’s some way to go, with the price of Brent Crude once again at the top of the tree.
Andalas Energy (ADL) is a company that even after its recent placing has NEGATIVE net current assets of $1-2 million and no assets of any value. I think it is worthless but its management wishes to meet me to explain why I am wrong. Hmmm. Well for starters I am a hermit who never goes to London other than for UK Investor and secondly I simply will not meet until the company answers four questions and it is still refusing.
As the winner of the 2017 Dragon's Den – grand prize, a free trip to anywhere the #73 bus goes, bus fare not included - I have a a reputation to protect. So there would be absolutely no reason to do a check in on how the 2018 leaderboard is doing.
AIM-listed, Houston headquartered, Cayman Islands registered oil/gas play Frontera (FRR), whose operations are in Georgia (and if that’s not a Red Flag….) has confirmed gas flow rates from its Dino-2 well in the Taribani complex. It flowed at 315 bbls per day – well, at least part of one day. Apparently that’s commercial, but I doubt shareholders can count their winnings just yet.
Amazingly, the cash shell that is Standard Listed AIQ (AIQ) – with somewhere around 8-10p per share of cash and nothing else – has again returned from suspension this morning. The shares, having peaked (ahead of the last suspension) at 150p to buy are now in free fall, sitting on a spread (last seen) of 80p (to sell) to 130p (to buy). I have no hesitation in recommending a sell – there is, after all, only 8-10p of value here. What does surprise me is that there has been no official comment whatsoever from the company – or, indeed, anyone else.
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