On December 1 2015 AIM listed African Potash (AFPO) announced what appeared an incredible marketing deal for its fertiliser with a company called Beryl - of course nothing has come of the deal and what African neglected to mention was a £600,000 bung. A source in London has sent me the signed contract. One month and 12 days ahead of a bailout placing investors were grossly mislead as to the nature of the Beryl deal. Potash shares need to be suspended at once and AIM Regulation and the FCA have to get involved.
A 240p per share offer for provider of in-flight products and catering services to the airline industry, Journey Group (JNY) has been recommended to shareholders, with director of the offeror (a company of Harwood Capital LLP), Christopher Mills, emphasising its proposal “provides Journey shareholders with a sizeable premium over the value of their shares as well as affording them the ability to elect to retain an interest in the business should they wish to do so”. Let’s take a look…
Following the example set by Paul Warwick the chairman of worthless penny stock Andalas (ADL) in starting a blog, Sir Benjamin Dover of AIM listed Global Mining Endeavours has decided to follow suit and like Paul promises to be Candid in his approach. Day 5
AIM Cesspit listed City of London (CIN) is surely a sinking ship. If Nomad Peel Hunt had a shred of integrity it would surely quit now on news that a third director has quit in six days leaving just one rat on board - chairman Paul Milner. The shares are off by 24% today to 3p but fair value ahead of suspension, administration or both is surely 0p. The Company is now in Breach of the Companies Act 2006, S154(2)which requires a public company to have at least two directors. Do hapless Nomad Peel Hunt or the oxymorons at AIM Regulation care about companies breaking the law? It appears not.
Such is the current febrile state of the markets that even China scams are being bid up with gusto. Take Mayair (MAYA), which purports to sell clean air filters in China and floated on AIM in May last year at 130p. Its shares, having gone down in a straight line to 40p (as insider selling outweighed the constant barrage of good news that these companies always come out with) have doubled to 84p in the last month as summer madness takes hold. The company itself was forced yesterday to say there is no reason for the rise. Indeed.
Self-declared “world leader” in technical jargon to describe what it does (Oops, I meant “in narrowband RF mesh networks for Omni Internet of Things communications”), Cyan (CYAN) has announced results for the first half of 2016 – noting its “financial performance reflected the increasing maturity of our offering and relationships” and that it’s “excited by the group's growth prospects”. Hmmm…
Hello Share Churners. Yesterday I looked at a promising company with rather boring products. It was Polypipe (PLP), which makes plastic pipes and ventilation systems. So now let’s look at a firm which has an exciting existence, especially for sports fans (which I am not).
The pizza hardman took a test to see if he can stay in the UK and avoid deportation to the socialist hell hole that is Canada. I give you one of the questions whuch had me stumped since in part it depends on whether you live in the hard working South or the Northern welfare safaris. Then I answer a question on forward selling and another listener question on whether Sirius Minerals (SXX) is cheap. Then it is onto Harvest Minerals, (HMI), Iofina (IOF), Alba (ALBA) and the Jim Mellon joke that is SalvaRx (SALV) which I have covered in full HERE. Finally I am working on exposing an AIM listed company which has been engaging in industrial scale bribery. I hope to run the story tomorrow. Can you guess the company? Suggestions in the comments section below. Ho Ho Ho.
I’ve no idea what AIM-listed Yujin (YUJ) got up to in its previous life, but its shareholders (who may be wondering the same!) are clearly in for a treat as it moves to ISDX doing an RTO, share consolidation, change of name, a new board comes in and new advisers are appointed. We may have thought we had seen the Dream Team on ShareProphets, but this one goes straight to the top of the pile.
Early-stage bioscience and technology investor Allied Minds (ALM) is scheduled to release interim results on Thursday of this week, but updates the market this morning with a twin RNS release. In a surprise move, it announces that it has secured a $20 million debt facility from a US bank. Why?
Having risen from 2.375p a month ago to 5.75p, shares in Image Scan Holdings (IGE) are currently further higher, at 6.25p, on the back of a “Year End Deliveries Trading Update” including that “the company anticipates to have recognized the sale of approximately half this £800k order by the end of the financial year and therefore now expects to materially exceed current market expectations”…
You may remember that Tom Winnifrith had a chat with the new chairman of Obtala Resources (OBT), Miles Pelham back in late April. Tom caught up with Miles again today for a detailed phone catch up. The key take-aways are:
There is more horseshit today in an RNS from FastForward Innovations (FFWD), The money is running our fast. CEO Lorne Abony is in full ramping mode as he know he needs to get a placing away this fall or the game is up. The shares trade at a vast premium to NAV so what to do? Ramp again of course. All is explained in this bonus podcast.
21 Aug 2015: “365 Agile ((365), formerly known as Iafyds plc) is pleased to announce the commencement of dealings in its ordinary shares… at a price of 75 pence… following the reverse takeover of 365 Agile Limited”, 06 June 2016: “the board is excited by the multiple prospects afforded by the Internet of Things space”. Today: the shares currently more than 20% lower, at 26.5p, with the board having “reassessed its strategy to develop a meaningful business in the Internet of Things space”. Hmmm…
I take my hat off to Neil Ritson, the hapless CEO of LGO Energy (LGO), as he does not seem keen to disclose more information about how his company is doing. Unfortunately the information is underwhelming and as the company's cash runs out and the next bailout placing looms the shares are set to head only one way. And it is not up.
When we talk to folk in the industry, about our plans to steam the Pilot, Elke & Narwhal fields in the middle of the Central North Sea, sometimes we get a pretty sceptical reaction, sometimes we don’t.
They are still dropping like flies. This morning the ShareProphets AIM-China Filthy Forty saw its 23rd victim as LED International Holdings (LED) had its one-way trip from AIM’s Death Row to the lethal injection room. There are now just 17 of the original forty remaining, of which one is currently suspended. This is an incredible indictment of AIM, and the recent history of LED is the sour cherry on the rancid icing on the mouldy cake.
With the USA recording a higher than expected number of new entrants into the workforce last month, the markets are hopeful that there will be a rate hike in September and that US dollar’s weakness might be over and the optimists are now forecasting a 3.8% third quarter rise in real GNP but recent services data out of the USA has pointed to a weaker number. The second quarter GNP figure which had widely been expected to come in at +2.8% turned out to be only +1.2%. With capital spending following profits downwards and the world economy continuing to be weak, only consumer spending and bank consumer credit lending has kept the US economy rolling along.
Rare Earth Minerals (REM) has seen its market cap more than double in the space of a month, but it is hard to see anything that justifies such a meteoric rise.
Hello Share Takers. I’ve often thought that companies which do boring things can be perky investments. Is it because punters avoid them as they just don’t seem exciting enough? And then when the penny drops that they are making good money, a welter of heavy buying can make the stock soar. Long after the cannier investor bought them earlier and a lot cheaper.
Following complaints from shamed share ramper Roger Lawson, ADVFN has insisted on a raft of new editorial controls on OneFreeShareTip.com. I did not re-start my life five years ago to be told what I could or could not write. I said no and ADVFN boss Clem Chambers has just said that the website will be shut down. So...our hand is forced ... Welcome to fivefreesharetips.com - we hope you join NOW HERE.
As seen here, Telit's (TCM) distributers are a, um, diverse lot, including a distributer in Vietnam that appears to be a scooter courier firm. Which is nice, and thank you for sponsoring this week's Bulletin Board Moron search.
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.
You may remember that at the last AGM of the London Stock Exchange (LSE) its chairman,, Donald Brydon CBE, 'fessed up to being a ShareProphets reader and as we chatted afterwards he came over as a thoroughly decent man. But he has, yet again, been failed by his minions in their handling of the biggest AIM fraud of the year, so far, Telit (TCM). Lowly gofers such as the head of AIM Regulation, the fake Sheriff Mr Marcus Stuttad, have allowed Telit to avoid any independent scrutiny of its accounts & business practices despite clear evidence of fraud. That has to change and maybe Brydon will push for that. I have sent him a letter.
If you read the bent, freebie is our middle name, personal financie columnists in the deadwood press, fund manager Neil Woodford walks on water. I disagree and have noted before, that, maybe, after three dismal years, others are starting to see the light. But, with assistance from a leading broker, how about we have a real look at the Woodford Patient Capital Trust (WPCT) but also at the sort of dogs Neil ifalls in love with.
VSA is house broker to Obtala (OBT) so is not impartial. Neither am I as we own a small number of shares following a Dragon's Den pitch as the 2017 UK Investor Show. But the price target suggests real upside and VSA's research team is well regarded and since we happily published an uber-negative piece from Evil Banksta the other day, this offers some balance. VSA has tweaked its forecasts
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:
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?
Some folks think that handing out share options to senior staff is a cost free exercise and b) benefits all shareholders as it incentivizes the board and also aligns their interests with those of stockholders. Bollocks on all counts.
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!…
Having reached more than 75p in May, shares in information management technology and services company Idox (IDOX) declined below 60p early last month before recovering above 65p - then declining towards 60p again. The company is now “pleased to announce that it has acquired… Halarose, a supplier of electoral back office software and services to UK local authorities, for £5.0 million, comprising £3.5 million in cash and £1.5 million in shares” (at 61.5p)…
Hello Share Grafters. The congestion in most of our airports will give you the heads-up that air travel is booming. It will continue to do so, especially as more people from developing countries become middle class. But you may still be wary of big airlines.
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?
Drilling services company Capital Drilling (CAPD) has announced results for the first half of 2017, including that an initial uplift in activity has broadened with an improving outlook in industrial metals and capital markets activities support. Why then are the shares further lower, below 40p, having been above 60p earlier this year?...
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...
Previously writing on System1 Group (SYS1), then named BrainJuicer Group, as the shares slid below 700p I concluded there still, despite self-admitted “limited revenue visibility”, a clear lack of a Benjamin Graham ‘margin of safety’ (”for absorbing the effect of miscalculations or worse than average luck” e.g. an earnings miss or negative change in stock market sentiment) and I thus continued to avoid. The shares have though recently been above 800p… until a “Trading Update” announcement today…
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:
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