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Avacta: more “news” that proves nothing, valuation is still crackers
Let’s be clear, after the recent £31 million fund raise, with no imminent cash crisis, Avacta (AVCT) is no longer a compelling short at 53p. We perma bears have won, drunk our ouzo and moved on, to the sound of gnashing teeth among impoverished bulletin board poltroons. But when it next starts to run out of cash its shares will collapse. And its valuation, £187 million plus another £40 million when all death spirals are converted looks very chunky indeed for a company whose lead product is not yet in phase 2 trials. Today there is more “news” but it means nothing at all and strikes me as a desperate attempt to keep the shares above the 50p placing price.- By Tom Winnifrith, the Sheriff of AIM |
- 21 March 2024, 13:18 |
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CAP-XX – states litigation settlement terms ‘do not involve payments considered to be material’. I’d suggest all of its payments are currently material!
Describing itself as “a leader in the design and manufacture of thin, flat supercapacitors and energy management systems”, CAP-XX (CPX) has issued a “Litigation Settlement Agreement with Tesla, Inc”-titled announcement including that the terms “do not involve payments to Tesla that the board of CAP-XX considers to be material to the company”. So what about this and shares in CAP-XX currently approaching 50% higher at 0.275p in response?- By Steve Moore |
- 21 March 2024, 13:15 |
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Live Company Group – bailed out with some usurious new financing, and for how long?
Live events group Live Company (LVCG) has announced a fundraising including loans totalling £1.77 million from Chairman David Ciclitira convertible at 3p or 6p per share, that “certain creditors have agreed to take, in shares, their outstanding fees totalling £1,252,839.66 at 3p per share” and that now its “existing businesses expected to be funded for this year”, so what of a current shares-restored-to-trading-on-AIM response down over 50% to below 1p?- By Steve Moore |
- 21 March 2024, 11:12 |
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The Curse of Swanny strikes again: another dud added to the list
How do you make a guaranteed small fortune from AIM and sub Standard List shares? Simple: invest a large one in the worst companies out there. That seems to be the cunning plan of Jonathan Mark Swann. Until today his list of investments where he holds a disclosable stake included:- By Tom Winnifrith |
- 21 March 2024, 10:54 |
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Breaking: Dispensa and the list of unpaid bills, what does this say about other Zamboni/White companies?
Dispensa (DISP) shares have now been delisted from the Standard List meaning that, following a sneaky year end change, in 19 months as a listed company there are no audited accounts covering any of that period. Nor, I bet will there ever be. This is a clear warning for investors in the remaining companies from the Dominic White/Alessandro Zamboni/Carrado Coen gang: Supply@ME Capital (SYME), Eight Capital Partners (ECP), Regtech Open (RTOP) and Max ret Ventures (MAX). Let’s talk unpaid bills.- By Tom Winnifrith |
- 21 March 2024, 10:35 |
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GOTCHA: Technology Minerals confirms death spiral scoop, lies repeatedly and announces a new spiral
Yesterday I reported that disgraced death spiral provider CLG Capital had only provided £600,000 of the first £1 million of a £5 million facility. Telegram group gerbils claimed I was making it up. Guess what? Today my story was confirmed and it shows Technology both lied to investors and broke stockmarket rules on timely disclosure of price sensitive information and lied to investors. And today it lies again..- By Tom Winnifrith |
- 21 March 2024, 08:33 |
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EnSilica – “pleased to announce” appointment of another broker. I wonder why…
Semiconductor circuits company EnSilica (ENSI) has announced that it “is pleased to announce the appointment of Singer Capital Markets as Joint Broker with immediate effect. Allenby Capital remains as the company's Nominated Adviser and Joint Broker”. Why might it now be “pleased to announce” this, but the current market reaction be a 5.5% share price fall towards 60p?- By Steve Moore |
- 20 March 2024, 15:50 |
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Tom Winnifrith Bearcast: Oh no more emails from Kefi jihadists
In today's bearcast I discuss politicians picking business winners, referencing the Reneuron (RENE) scandal, Kefi Gold & Copper (KEFI), Versarien (VRS), Ben's Creek (BEN), BSF Enterprises (BSFA), Hummingbird Resources (HUM), GRIT and in detail Big Dave Lenigas and Pennpetro (PPP).- By Tom Winnifrith |
- 20 March 2024, 15:27 |
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£15m of taxpayer cash disgracefully spunked as Neil Wooodford backed AIM wonderstock Reneuron finally goes bust
It was back in 2016 that I first flagged up the disgraceful way that Mark Drakeford’s Welsh Government was spunking vast amounts of taxpayers cash in bribing AIM dog Reneuron (RENE) to move its operations from Surrey to the rain sodden post industrial land of sheep molestation.- By Tom Winnifrith |
- 20 March 2024, 14:12 |
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Eurocell – 2023 results, emphasises longer-term potential but what about the current outlook?…
Previously writing on window, door and roofline PVC products company Eurocell (ECEL), in September with the shares falling from 112.5p towards 100p on the back of half-year results I concluded that the prevailing trading outlook with already net debt suggested avoid/sell. The shares most recently closed at 114.5p and what about them currently down towards 110p on a 2023 results announcement headlined “Profits in line with expectations; strong cash flow”?
- By Steve Moore |
- 20 March 2024, 13:40 |
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As safe as houses: latest data from the ONS suggests otherwise
There will be folks who insist that there is no safer investment bet than housing. Really? Maybe you want to check out the latest data from the ONS out today.- By Tom Winnifrith |
- 20 March 2024, 13:24 |
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Union Jack Oil: does it regret the share price support operation, oops I meant share buyback?
Between October 2022 and the end of June 2023 Union Jack Oil (UJO), run by the journalist trolling David Bramhill, engaged in a much vaunted share buyback programme. By the end of that period, it boasted that, after the purchase of 100,000 shares at 32.25p it then held 6,300,000 shares in Treasury.- By Tom Winnifrith, the Sheriff of AIM |
- 20 March 2024, 11:22 |
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FDM Group – full-year results emphasise “agile business model”… then deliver a significant profit warning!
Previously on IT consultants provider FDM Group (FDM), in November with the shares down to 390p I wrote “trading statement”, why does it not provide any financial guidance of ‘lower than anticipated’ assigned consultants impact I wonder?!, concluding still avoid/sell. The shares most recently closed at 390.5p, but what of them currently down to 348p on the back of the group’s calendar year 2023 results announcement?
- By Steve Moore |
- 20 March 2024, 11:10 |
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Versarien: After the pump and obviously with no forward selling and insider dealing yesterday….
When will folks learn? Yesterday some gerbils were paying more than 0.25p for worthless shares in Verarien (VRS) before, mysteriously there was an afternoon sell off. A Brazilian deal that will not move the dials on ongoing cashburn by more than a smidgeon. The sale, at a vast loss, of joke Korean assets to give a few more months cash to spunk. Pump, pump, pump. The gerbils loved it. That will show old TW@ what a Great British company this is, they chanted. But after the pump and that mysterious afternoon selloff, a coincidence ‘natch…- By Tom Winnifrith |
- 20 March 2024, 09:55 |
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OptiBiotix Health – another SkinBioTherapeutics shares sale, but not a panicked sale at a low: STRONG BUY
It has just been announced that the OptiBiotix Health (OPTI) shareholding in SkinBioTherapeutics (SBTX) has been reduced to 24,940,639 – representing a move from a 13.52% interest to 12.94%. With the share price of SkinBioTherapeutics down from above 15p at the start of 2024 to now below 8p, is this a panicked sale at a low-point? We understand NOT!- By Tom Winnifrith & Steve Moore |
- 20 March 2024, 08:27 |
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KERBOOM: Technology Minerals: Has death spiral provider CLG defaulted? Is the market now false & disorderly?
A source close to the action has been in contact and she says that disgraced death spiral provider CLG Capital run by Charles Ofori has been unable to hand over the first £1 million of a £5 million facility offered to Technology Minerals (TM1) and, in fact, with only around £600,000 passed on the facility has been terminated. It gets much worse on three counts and, if my source is correct, the shares should be suspended PDQ.- By Tom Winnifrith |
- 20 March 2024, 08:17 |
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Quadrise – another discounted fundraising, states for “working capital” but means for ongoing losses!
Describing itself as a “supplier of innovative energy solutions for a cleaner planet”, Quadrise (QED) states that it “is pleased to announce the successful results of the placing and subscription announced on 18 March 2024 and to confirm the launch of the open offer”. How ‘pleasing’ is this?, with the current market response being the shares more than 16% lower at 1.245p.- By Steve Moore |
- 19 March 2024, 15:53 |
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Tom Winnifrith Bearcast: shorting #PlanetFitness, #Gowokegobroke
I discuss madness at Planet Fitness, Crest Nicholson (CRST) and the housebuilders, Ben's Creek (BEN), 10p to 100p next stop 0p, Scirocco Energy (SCIR) , Argo Blockchain (ARB) and Manolete (MANO)- By Tom Winnifrith |
- 19 March 2024, 14:44 |
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Scirocco Energy – Rebel EGM Succeeds
AIM-listed Scirocco Energy (SCIR) has announced that a rebel EGM has succeeded in forcing the company to return whatever remaining value there is to shareholders. This, in the wake of a scheme to move from gas exploration into renewables failed in spectacular fashion, a scheme I was less than convinced about all along.- By Nigel Somerville |
- 19 March 2024, 14:41 |
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Gfinity – shares soar on interims announcement, but is it really now “well positioned”?
Previously writing on Gfinity (GFIN), with the shares down to 0.06p in November I questioned how ‘significantly’ a disposal improved its financial position. The shares had since fallen further, to most recently 0.0325p, but what about them currently back above 0.05p on results for the company’s half-year ended 31st December 2023?
- By Steve Moore |
- 19 March 2024, 13:19 |