I always take house broker notes with a heavy pinch of salt as they will paint as optimistic a picture as possible so this morning’s effort from Beaufort Securities on its client, MySQUAR (MYSQ), surprised me somewhat with its honesty but it’s good to finally put the nonsense about “operating break-even” to bed.

I previously wrote on Fairpoint Group (FRP) on a June update that it would not be in a position to publish its annual report and accounts in the six months from year-end it has under AIM rules as it was unable to sign-off the audit after having “been notified by its bank, AIB Group (UK) plc, that it is unwilling to provide the level of on-going support requested by the company”. This saw me note ‘a fair point towards disaster’… and now it’s all the way…

I see a note about how this research is only meant for funds with $100 million under management but as it is house broker, so clearly not impartial, Cantor's job is to promote the stock so I am sure it will not mind me giving it a wider airing. As it happens, analyst Asa Bridle is no fool so I am not ignoring what he says completely. We own the shares and think they should be trading at 13p+. But 26p? Over to the expert...

I have received a note from Maureen Jones, the close boardroom ally of Professor Richard Moriarty the founder and embattled chairman of Moriaty Gold & Natural Resources (CGNR). Maureen reckons my coverage of the last GM is unfair and wishes to put the record straight. But I am afraid that she and Professor Conroy simply just do not understand why they are in the wrong here and why that forces me and other campaigners such as the top Irish blogger Wexboy, to ensure that we will turn the next Conroy GM into a media circus to see the two ousted. Maureen writes and my comments are in bold.

My last piece on Echo Energy (ECHO) looked at how connected party Greenberry was making a fortune out of the ramp and also looked at rather odd TR-1s. Well history is repeating itself and, as always expected, yesterday’s TR-1 shows how the other connected “institutional investor” here, Pegasus, has also made a very quick buck - not that it told anyone when it was doing so!

UK Oil & Gas and its partners in Kimmeridge Oil & Gas have sought an amendment to their permit from West Sussex County Council to allow a continuation of drilling at Broadford Bridge. Top geologist, David K. Smythe, Emeritus Professor of Geophysics, University of Glasgow has submitted a detailed application which slams UK Oil & gas for, inter alia, lying about what it was doing and claims that it will have to frack to have any hope of making this operational commercial. On that basis he asks , in a detailed and damning submission, that drilling be halted at once. We have the full report below and it appears damning. The highly regarded professor states:

Having been just above 40p, a June results announcement emphasising “strong cash generation and returns to a net cash position. Restructuring activities and tight cost control contribute to an increase in underlying operating margins” saw shares in power cord and harness assemblies company Volex (VLX) rise over the next month to comfortably above 60p. They are currently though back below this level after AGM and strategic partnership announcements…

Hello, Share Twiggers. Let’s have another look at the Man from the Pru. Prudential (PRU) has just announced that six month operating profits are up by 5%. Not brilliant, but, never mind, an increasing profit usually means a climbing share price.

Following a June profit warning which saw them down to 200p, shares in DFS Furniture (DFS) had recovered to above 230p. They are currently though back below 220p on a “Post-Close Trading Update”…

That Telit (TCM) is going to zero is a given as I explained yesterday HERE. But now we need to know why Canaccord quit on May 26 as Nomad. I suggest the reason in this podcast and call for a wider AIM Casino rule change on Nomad resignations. Then it is on to 2 CEO resignations. The bombastic prick David Williams has gone from drowning in debt Avanti Communications (AVN). Avanti is toast but I run through the red flags pertaining to Williams himself and ask a question about his payoff for failure. As for Redcentric (RCN) can I claim this as a scalp? Frazer  Fisher must have known about the mega payroll fraud of March 31 2016 as I revealed HERE. Yet he trousered a big 2016 bonus and sold stacks of shares just after publishing the 2016 number which he KNEW WERE CROOK. This departure is to avoid him being in situe when the FCA, FRC and SFO announce their findings. Actually can the Sheriff claim a scalp on the bombastic prick Williams too? I got the FRC to pan his company and exposed all sorts of Avanti red flags and naughtiness. Two scalps in a day - ouzo time?

Snoozebox(ZZZ) interim results for the six months ended 30 June 2017 out yesterday showed a reduced loss of £1,006,000 down from £2,126,000 in the prior period. Worryingly for long suffering shareholders, the contribution to overheads was only £176,000 down from £986,000. 

The administrators to (suspended) AIM-listed RedX Pharma (RED) have published their proposals for the rescue of the group. The good news is that something will indeed be salvaged, but details of what went wrong look to raise serious questions of the company and its Nomad – none other than Cantor Fitzgerald. You might remember that name with reference to the African Potash (AFPO) fraud where it is to be sued for its negligence.

Who remembers the infamous zero pence share price target established by one 'teenage scribbler' broker on Glencore (GLEN) the thick end of a couple of years ago? Funnily enough, via a decent commodity marketing/trading business, a cute money raising and some decent tier 1 mining assets, Glencore shares did not trouble the scorers below even 50p and over the last 20 months have recovered back to levels seen four or five years back. Today's first half numbers continue that renaissance.

Marketing services group St. Ives (SIV) has announced results for its year ended 28th July 2017 “are expected to be at the top end of the range of current market expectations”. Sounds promising, but what are those expectations and their context?...

With its shares having been above 20p at the start of 2017 and still above 19p in June as it attempted to mitigate “we continue to look forward with confidence”, Surface Transforms (SCE) has announced the final result of a fundraising which it has emphasised has seen a “most encouraging response from shareholders”. At what price per share again?...

Little Steve Sanderson of UK Oil & Gas (UKOG) is a slimy little git. Do you remember the BBC expose where he was caught on camera making claims about Horse Hill which he then denied making? If you have forgotten about that shameful eipisode here is a reminder. Now the Weald Basin circus moves on to Broadford Bridge and this time it is more about what oily little Steve is NOT saying. Natch it is bad news he hides. Here is the timeline:

You might have thought that the 1991 Boston Real Estate fraud was the only brush Telit Communications (TCM) boos Oozi Cats/ Uzi Katz had enjoyed with the law. Think again. Though there has been no RNS from Telit on the matter of the BAMES bankruptcy which saw 1400 Italians lose their jobs and a massive criminal investigation, perhaps it might give us an update now.

Yesterday was the tenth anniversary of the start of the Great Financial Crisis, the banking implosion that changed the world as it did the way we think about economics, finance and money. Have we learned the right lessons from this earthquake, such that we can prevent variant forms of it happening again, and if we can’t prevent them, are we at least better equipped to mitigate their crippling costs? On both counts, I sadly say a resounding no.

This is a very simple contest. Heck Oozi Cats, formerly of Telit Communications (RCM), you have time on your hands right now so why not enter! "don't talk about time" Mr Sheriff please!" said Uzi, Sorry Oozi. I digress. Please look at the four images below and tell us which is the odd one out and why. I have added a musical hint on the fourth one. Post your entries in the comments section below with a deadline of midnight Thursday

An “Offer Closed” announcement from the attempted robber barons of the InterQuest (ITQ) management buyout team (at Chisbridge Ltd) has been met by a firm response from InterQuest’s independent director…