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I wrote earlier today that Flip Flop Ben Turney who now finds himself running failed ex AIM investment vehicle Teathers really MUST go to the Old Bill demanding a full investigation into the ATM withdrawals by ex FD Nilesh Jagatia. A reader points out that Flip Flop has another civic duty to perform on this matter, he must go to the taxman. Ever keen to help...
Shares in NCC Group (NCC) have slumped by 9.5% to 162.5p in late trade after a shocker of an announcement posted at 4.16 PM today. Not quite no-one is watching O'Clock but still late in the day. If you were on your way to the capital markets investor rampfest day it was holding tomorrow, don't bother. It has been cancelled. Cheers,my cyber security expert friends, did you not know you were going to have to issue a shocking profits alert until just now? How long have you been sitting on this bad news? Thanks. can I get a refund on my train ticket?
16 hours travel after getting up at 4 AM GMT on Monday and falling into bed at 3 AM Tuesday leaves me a tired man. And Joshua and Oakley both chirped up to make it worse still. So apologies to all bar one of those who I have snapped at today. Before I go to bed I look in detail at Grafenia (GRA) and compare it to TrakM8 (TRAK) and also comment on North River Resources (NRRP) and Jiasen (JSI).
Having previously concluded on shares in Lighthouse Group (LGT) at 11.75p that they could prove good value, I note that they are currently higher today on the back of a results announcement for the 2016 calendar year…
All the shit I got when I warned y'all repeatedly what a crap company TrakM8 (TRAK) is almost seems worth it now after yet another awful profits warning. No doubt share blogger Paul Scott, crony capitalist PR Man Reg Hoare and uber-bullish analyst Lorne Daniel of Finncap have already ordered that crates of ouzo be sent to me at once as my top analysis is vindicated again. It is what this warning does not say that should terrify you. Things will get worse.
Yesterday I revealed a series of 74 "interesting" transactions on the Teathers Financial (TEA) company credit card and some curious payments on the Teathers pre-payment card belonging to Nilesh Jagatia the company's former FD. There is now a very real suspicion that Teather's poor shareholders were paying for Jagatia's domestic shopping at his local Sainsbury's in South Woodford and that he was making withdrawals from the company's account for personal use. I have thus written to the new CEO flip flop Ben Turney who, of course arrived in the coup that saw Jagatia fired. The letter is below.
A “Trading update” announcement from Grafenia (GRA) commences that “in our update to the market on 8th November 2016, we highlighted the inconsistent nature of transactional print volumes and this has continued”. Uh oh – that announcement saw me note profit warning ahoy!...
Former AIM Casino disaster story United Cacao (CHOC) has updated the market this morning with regard to proposed changes to the terms of its bonds. If you are a shareholder and didn’t take Tom Winnifrith’s advice to get out, I suggest you look away now for as he predicted HERE it is indeed to be a near wipe-out even if the company survives.
Previously writing on Goldplat (GDP), I concluded that I continued to expect more to come as the shares rose back above 6p. The following updates with they currently up to 6.625p on the back of results for the six months ended 31st December 2016…
Hello Share Spikers. I do like a firm with a novel idea which seems to have potential. It makes share-shifting a lot more exciting when we can find a company which offers a different kind of service which seems to work. I refer you today to Inspired Energy (INSE).
In the past, the Americans have vigorously supported a compromise over Greece because, along with the rest of the political establishment, it views preserving the euro and the European Union as a strategic imperative of over-riding importance. But Trump doesn’t like the EU. Trump has made it very clear that he is very hostile to the EU. He backed Brexit, appointed an ambassador who believes the euro is destined to fall apart, and started a rhetorical trade war with Germany. In response, EU leaders, from Germany’s Angela Merkel to France’s François Hollande, have been fiercely critical of Trump. Relations between Washington and Brussels have probably never been worse.
Having thus far been sceptical of shares in engineering coatings company Hardide (HDD), I note they currently higher today with the company having updated in conjunction with its AGM…
The fragrant Alice Lane, a foxy young brokerette who apparently I once reduced to tears by being so beastly, is this morning disseminating the latest FinnCap note on Premaitha (NIPT) to clients. Since it is bullish I am happy to make it up to Alice by exposing this high quality research to a wider audience, especially since we own more than a few shares. By way of balance i should say that FinnCap is house broker and therefore utterly partial and you can feel free to ignore every word of this report.
Tom Winnifrith asked a few questions earlier this morning as to why there was so little disclosure in the FY16 Accounts of AIM-listed Tern plc (TERN) in relation to the financial performance of its flagship investee company Device Authority Ltd, especially since Device Authority represents almost 100% of Tern’s investment portfolio. I have another question: why does it appear that Tern is paying the audit fees of Device Authority?
An update from engineering group Hayward Tyler (HAYT) commences that, “as expected”, there is proving to be a second half weighting “with aggregate order intake of £24.3 million secured in the four months to 31 January 2017… and a significant increase in the order book to £52.2 million”. Sounds promising… but what? “The board now anticipates reporting lower revenue for the financial year ending 31 March 2017”?!?...
A reader has lost money and blames the LSE Asylum. I hate all Bulletin Boards and their operators and explain why - they encourage theft from me. But the LSE Asylum is unique: it is a nest of ramping vipers and free speech deniers and, as such, it is mad, bad and dangerous for your wealth.
As you can see HERE there were many half decent entries in last week's contest but the winner is a stand out and is, natch, from the LSE Asylum. Did you know that on that Asylum it has been arranged so that you cannot provide a link to an article on this website? Yup not only is it rampers only but you cannot even link to a counter point of view. Je suis LSE eh? So the winning entry is spotted by Juicin and is ( from the Cloudtag (CTAG) thread natch):
The way that shareholders' cash was pissed away on corporate jollies & semi clad young ladies by the former board of Teathers Financial (TEA) has already been documented fully here. But documents have now fallen into my possession, here at Winnileaks, which ask even bigger questions about FD Nilesh Jagatia who is pro tem, still FD at AIM-listed Inspirit (INSP) and Octagonal (OCT). After this bombshell I wonder for how long.
Normally PR firms, being so utterly 100% morally bankrupt, only resign an account for an AIM PLC if the client can't pay its bills. Just now and again a PR firm finds a client so utterly fraudulent that to protect its own reputation, it walks - think the FRAUD African Potash for instance. And so that brings us to the FRAUD Cloudtag (CTAG).
Given that Device Authority Limited represents almost 100% of Tern’s (TERN) investment portfolio and thus is very material to investment performance and its share price why is there so little financial disclosure about the performance of Device Authority in accounts of Tern Plc? In terms of potential excuses that Tern might offer;
In today's bearcast I look at the danger of a stockmarket crash in light of a tweet from the great Donald Trump earlier today. I cover N4 Pharma (N4P), cue smutty schoolboy jokes as its shares flop, and then I take a detailed look at today's news from Minoan (MIN). If I was a shareholder I would be seething but should I be selling?
Having demanded we bring back this contest, once again, Juicin Drumroll failed to win last week but he came second and tried very hard as you can see HERE. So he is clearly desperate to win a semi naked photo of Britain's leading share blogger before lunchtime, Thirsty Paul Scott. So we will give him a fifth and final chance. Can anyone stop Juicin from winning this week? Okay here is the challenge for you all:
In today's bearcast I discuss my coverage of companies where the CEO is a friend. I ask what exactly Purplebricks (PURP) is hiding in Oz and explain why its shares are sliding amid new allegations, I look at Telit (TCM), Tungsten (TUNG), Xeros Group (XSG) and Westminster Group (WSG)
Just when you don’t think that the goings-on at Woodford Patient Capital Trust (WPCT) can get any more surprising, an RNS comes out of nowhere to make everything right in the world, relating to the unloved holding Industrial Heat. It seems that Neil Woodford can bend the laws of physics after all!
Given the lowly market cap of Mayan (MYN) any placing will have to be a heavily discounted bucket shop special. In light of that, investors should take heed of an explicit warning from the City’s No 1 oil analyst Zac “the Knife” Phillips of SP Angel. In an email he writes:
With oil prices remaining buoyant and this trend looking likely to continue going forwards, there are still plenty of opportunities to invest in companies in this sector.
Yesterday Tern (TERN) held an online Q&A session and I had wondered whether boss Al Sisto would dodge tough queeries. To his credit he did not. The Nomad blocked a few including one of the three that Nigel Somerville sent it but he answered the rest. I make no comment on his replies. I am no Tern-ologist although its valuation looks demanding to me. But i respect Mr Sisto for facing up to his critics.
At 175p Versarien (VRS) is valued at £263 million. I cannot argue with two writers on this site (Lucian and Cynical) that the valuation looks absurd based on historic profits and cashburn or even on some of the more optimistic forecasts. But it has now announced it is raising £2.9 million (or more) at 145p via Primary Bid and I am almost tempted to have a flutter. Here's why...
Having recently slid below 35p, shares in Getech (GTC) have now recovered to that level ahead of results “on or around the end of September”…
As you may have gathered on Tuesday, Malcolm’s long-suffering wife reckons that he has been spending too much time in The Punter’s Return and so has organised a holiday in Denmark, Sweden and Russia where Mr Stacey hopes to discover the magic money tree and an updated theme for his next novel. We left him on his way to “The Bridge”, but our senior reporter has now updated us on his progress since…
Wildwood and dim t restaurants company Tasty (TAST) has announced results for its half year ended 1st July 2018, including “in February 2018 we implemented major operational structural changes and are beginning to see early signs of improvements which we expect to continue in the second half of the year”. The shares have currently responded, er, approaching 15% lower, at 14.5p!…
A (Top) hat tip (sorry!) to Chris Bailey re. mens formalwear retailer Moss Bros (MOSB), with he in March having noted serious corporate shooting yourself in the foot and suggested to look for offers from the company rather than buying the shares. The shares are lower, despite a half-year results announcement which included “early responses to the Autumn/Winter 2018 range across Retail are positive and product availability is good”…
A simple enough-sounding “Snorkel Investment Update” from Tanfield Group (TAN), but then this company, previously described here as ‘perennial dog’s breakfast, lunch and dinner’, has found very little simple over the years – and the shares are down and well below 10p on this latest update…
Big Sofa (BST) proudly announces a deal with Pepsico. The folks who run this company really do know how to piss off their long-suffering investors don’t they? You will remember how we shareholders were guided that the company would be announcing multiple deals worth seven figures per annum with big names. They simply have not arrived.
Minoan Group (MIN) “is pleased to announce” that it has entered into a conditional agreement for the sale of its travel business – emphasising it will “allow the directors to concentrate their efforts on optimising the value of the group's project in Crete and its monetisation for the benefit of shareholders”. However, the shares are currently significantly lower, at around just 4p…
In this podcast I look at the EU's shameful treatment of the wretched Theresa May, it insults her but also the UK. Do we really want to be part of such a club. I look at warrants handed out by Kefi Minerals (KEFI) as it appointed shamed and disgraced SP Angel as its joint broker and I discuss how proven liar Elon Musk will cook the Tesla (TSLA) Q3 books and how that will play out.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2017 and thus far in 2018 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
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