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New revelations: Yosi Fait, Telit's new CEO & friend of the "IDF warrior" must go too
Today's Sunday Times carries new shocking revelations about the shocking lack of corporate governance at AIM fraud du jour Telit (TCM) - surely now the former FD, now CEO Yosi Fait must follow his predecessor the Boston fraudster Oozi Cats/Uzi Katz and be resigned at once
- By Tom Winnifrith, The Sheriff of AIM |
- 20 August 2017, 09:53 |
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Falanx share price decline - not warranted: BUY and watch this space (soon)
Shares in Falanx (FLX) have slipped and slipped most of the summer. The reality is - as we noted with Optibiotix (OPTI) the other day - that sensible folks are sitting on beaches and this means that there is a bit of an absence of buyers. Well let us clarify there is certainly an absence of buyers for small cap stocks where there has been no news and Falanx fits that bill.
- By HotStockRockets |
- 20 August 2017, 07:16 |
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China fraud news: American PCAOB revokes auditor Crowe Horwath HK registration
It seems that some regulators have more teeth than others. The PCAOB – a US regulator – has revoked the registration of Hong Kong audit firm Crowe Horwath HK and censured it for refusing to cooperate with an investigation of the firm’s audits of a China-based issuer. Crowe Horwath is part of the same network of audit firms that contains our very own Crowe Clark Whitehill, which audited a large number of AIM-China Filthy Forty companies before they disappeared into the ether (see HERE).
- By Nigel Somerville |
- 20 August 2017, 04:36 |
Stuttard’s Septic Seven – August update and news from African Potash
It is August and Marcus Stuttard, the head of AIM, sees his portfolio of AIM stocks selected for him get to within 40 days of a full year. Out of the seven three have been booted off the market, one is suspended (no accounts) and the other was booted off AIM but got listed on the NEX lobster pot until it was suspended on that market as well. But Mr Stuttard is completely happy with the regulatory environment of the world’s most successful growth market.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 20 August 2017, 04:29 |
Goldman Sachs Portfolio Manager Says All Time Highs for Gold Coming Fast
Ali Zamani argues that gold has been in a bull market since the end of last year. The start of bull markets often go unnoticed; it’s a grind. However, we are making higher highs and higher lows. He looks at the most successful macro investors and many have come out recently with breakout calls. The ground is fertile, the charts look good, and the base is in, gold will rise quicker than most people think. Indeed he explains why gold will hit new record highs ssoner than most folks think.
- By Tom Winnifrith |
- 20 August 2017, 04:25 |
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YOLO: Well, it worked so well for CloudTag I guess…..
I had to laugh this week when I witnessed the marketing genius of one of the key investments of YOLO Leisure and Technology (YOLO) which came straight out of the CloudTag playbook and would be well known to most readers here. How could it possibly go wrong?
- By Cynical Bear |
- 20 August 2017, 04:24 |
Notes from Underground: Telit to the hand
I had an oniine conversation with an FT reporter about the Telit affair over how the FT would rather credit some Italian newspaper than your obd't one stop source for free breaking news, expert analysis, and videos on AIM and LSE listed shares. They had to credit somebody given that the FT did not break the story themselves. How convenient for them. CityAM and other publications went with credititing nobody at all. The story broke itself!
- By Pizza Hardman & Hackney Marxist Darren Atwater |
- 20 August 2017, 04:23 |
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Red Leopard Holdings: Promising RTO announced – shareholders must be pleased (whoever they are!)
With ten days to go until enforced suspension, Red Leopard Holdings (RLH) announced a potential RTO on Friday relating to a coal project in Colombia. I thought I’d take a look at what it might mean for the shareholders which raised the question as to the bloody shareholders actually are – does no-one file a TR-1 anymore??
- By Cynical Bear |
- 19 August 2017, 04:07 |
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250 Kent job losses as Southern Salads goes bust blaming Brexit but its all lies in the remoaning Independent
When the Brexit remoaners paper of choice, The Guardian, suffers an internet glitch there is always the lamentable Independent which serves up a daily diet of fake news on all matters European. Yesterday we learned that Southern Salads, a Kent firm, had gone bust and 250 ex workers could thank Brexit for it all. Well that is the Indy line, except that it is palpably false. It is just made up news. Fake news at every level.
- By Tom Winnifrith |
- 19 August 2017, 03:39 |
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Purplebricks priced for perfection; Sell at 431p
I wrote about the red flags at Purplebricks (PURP) two weeks ago and promised to return to the subject but was distracted by the Telit (TCM) fiasco last week - on that matter I must urge anyone interested to listen to Tom Winnifrith's bearcast yesterday. I challenge anyone to listen and NOT to wnat to go short. But back to Purplebricks.
- By Lucian Miers |
- 19 August 2017, 02:26 |
Table of shorted AIM shares - week to 18/08/2017
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
- By Steve Moore |
- 19 August 2017, 00:56 |
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Telit Communications – how much of a cash guzzler is GainSpan?
In the piss poor results for the six months to 30 June 2017, Telit (TCM) highlighted that it had purchased GainSpan and provided the following rather limited commentary on its contribution to the interim results:
- By Tom Winnifrith, The Sheriff of AIM |
- 19 August 2017, 00:32 |
Management Consulting Group – half-year results, an ‘operational improvement implementer’ which needs some of its own medicine!
Management Consulting Group (MMC) Chairman & Chief Executive Nick Stagg, with the company’s results for the first half of 2017, is “pleased to report that Proudfoot, Management Consulting Group’s continuing business, has made progress in the execution of its strategy”. The market is not however pleased – the shares down 8.5%, to 7p…
- By Steve Moore |
- 19 August 2017, 00:25 |
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Central Asia Metals is probably the most under-valued commodity play on the market!
There are times when a large background seller can present a good buying opportunity, and an institutional investor offloading shares isn’t always a sign that the company is failing to perform.
- By Gary Newman |
- 19 August 2017, 00:25 |
Is IQE Another ASOS? It May Not Be, But Can We Risk Letting Our Shares Go?
Hello, Share Scramblers. Let’s just have a few more thoughts about one of the fastest rising shares of the year: IQE (IQE). First of all an admission. I was stupid not to have sold all my shares when the price rose above 140p. My most golden rule is to sell after a big leap and I bought many of these shares at 16p.
- By Malcolm Stacey |
- 19 August 2017, 00:13 |
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Advanced Oncotherapy – how’s the cash position? Still a stonking SELL.
After a stack of RNSs earlier this year, it has all gone quiet at AIM-listed Advanced Oncotherapy (AVO) since the announcement of the termination of the Bracknor death-spiral. How’s the cash position?
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 18 August 2017, 07:59 |
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Reader Comment of the day - Drunken Sailor unearths local issues for Bushveld
You may remember that ShareProphets poster Drunken Sailor and I were co-defendants in a libel case a couple of years ago ( which we won). Mr sailor is not a drunk and he is a great sleuth when he wants to be. My pressing concerns about uber ramped Bushveld Minerals (BMN) are its balance sheet, but DS has unearthed another major issue which, for some reason, Bushveld has not covered in an RNS. Perhaps it might do so now? Drunken's post merits a wider audience:
- By Tom Winnifrith |
- 18 August 2017, 07:46 |
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Tom Winnifrith Bearcast: Oozi Cats and the FBI & why Telit could well be tits up within weeks
The failure of the LSE to insist that hapless Nomad FinnCap forces Telit (TCM) to bring in a firm like KPMG to conduct a full forensic review will hurt it even more when this company goes tits up as I noted in a letter to Stock Exchange boss Donald Brydon earlier today HERE. Two sources tell me that the FBI may have bad news for the Boston fraudster Oozi Cats and his Mrs as I explain in this podcast. But the meat of the podcast is explaining why Telit will go tits up and why that could be within six weeks. Enjoy.
- By Tom Winnifrith, The Sheriff of AIM |
- 18 August 2017, 07:35 |
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SRT Marine Systems – order “for the world's biggest single deployment of AIS AtoN”. Wow… Or not…
Following the postponement of a significant contract announced at the end of last month, SRT Marine Systems (SRT) has now announced an “AIS Aids to Navigation Contract”, including that “the order is for the world's biggest single deployment of AIS AtoN”. The world's biggest hey, sounds impressive!…
- By Steve Moore |
- 18 August 2017, 07:05 |
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PCG Entertainment – Lots to like about this funding deal other than…….WHY??
Like Richard Poulden, CEO of PCG Entertainment (PCGE), I have a bit of time for Brian Kinane at Riverfort. As someone who believes in transparency and clear communication, my view is that Brian is trying to bring some of that to the world of small cap funding, particularly where the dreaded phrase “ death spiral” is concerned and there’s a few points here to be applauded. It still doesn’t prevent the obvious question being aimed at Mr Poulden though – WHY RAISE MORE FUNDS NOW?
- By Cynical Bear |
- 18 August 2017, 04:24 |