Following our barrage of revelations yesterday about the Boston fraudsters - Uzi and Ruth Katz (aka Oozi & Ruth Cats), Telit Communications (TCM) has announced that its CEO Uzi/Oozi is to go on a "leave of absence." Uzi ain't coming back.
Sometimes geographical location can be enough to put off investors, but in a lot of cases that is unjustified and means that companies operating in these areas can represent good value for money.
It is just conceivable that there were two Israeli couples in Boston in the late 1980s - Uzi & Ruth Veronique Katz with the chap born in 1961 and the bird having a March 17 birthday. One went on to be the CEO and the art curator at Telit (TCM) the other were fraudsters. So what are the odds? A statistics lesson follows for you cynics (Leon Boros I am talking about you!):
Following a recent profit warning, so tries to emphasise “transitional year”, publishing group Quarto (QRT) has announced results for the first half of 2017… as well as an “attractive” price takeover approach…
Hello Share Japers. The riddle over quite why IQE shares keep on rising is no nearer to being solved. Given the lack of news and lack of confirmation of swirling rumours about a big deal with Apple, you would expect the recently-rocketed share price to level off. If not degenerate into the usual ‘lack of news slide’. But each day I log on I am delighted, though at the same time rather alarmed, to see the share price scale new heights.
By now the newly appointed Nomad to Telit Communications (TCM) that is to say FinnCap will be very much aware of the confusion about its CEO Oozi Cats whose real name is Uzi Katz and his Mrs, Ruth Veronique, and a couple of fellow Israelis with the same names and birthdays who took flight/skipped bail to avoid facing trial for real estate fraud in Boston in 1991. Natch this is all a big coincidence.
I can reveal that papers have this afternoon been lodged in Dublin with Conroy Gold & Natural Resources (CGNR) calling for a second GM to install three new directors: Paul Johnson, Patrick O'Sullivan and Gervaise Heddle. But after the sodomising of democracy that was the last GM, this time the rebels are also calling for the sacking of Professor Richard Conroy and his sidekick Maureen Jones. I will be going to this GM to back the rebels. The Sheriff will get his man, Prof Con you are on notice!
Since I previously updated in July, shares in payment services company Earthport (EPO) had been heading higher, with it also announced “Earthport Partners with Kotak Mahindra Bank”. However, they are currently slipping back on an “Earthport Plc expands into Nigeria” announcement…
Credit where credit is due. Andalas Energy (ADL) the AIM dog created to fund the lifestyle of Dave "Rule Breaker" Whitby has announced that it has signed a legally binding deal to develop the Jambi-1 30+MW independent gas-fired wellhead power facility in Jambi Province, Indonesia and to procure gas from Pertamina, the global fortune 500 national oil company. Andalas will have a 49% stake in the project and state owned construction outfit PT PP Energy will have 51%. So far so good but hang on Henry!
Having been appointed as Nomad and broker to the highest profile AIM company of the week, Telit Communications (TCM) at 7.01 AM yesterday, Mr Stuart Andrews & Mr Richard Chambers of Finncap and their colleagues must be shitting briicks following today's quite stunning revelations earlier about Mr Oozi Cats/Uzi Katz, his Mrs Ruth and events in Boston 25 years ago. Or maybe it is just another couple holding Israeli passports with the same names and birthdays who were involved in multiple frauds?
Kefi Minerals (KEFI) has its flagship operation, the Tulu Kapi gold mine ( to be) in Ethiopia. One by one the checklist of things needed to complete to get this mine into production has been dealt with.
Yesterday I discussed at length the woes of what was one of the largest companies on AIM, Telit Communications (TCM) where boss Oozi Cats sold £24 million of shares on May 25 - 24 hours ago the stock plunged for a range of reasons. Now here is the most amazing and embarrassing coincidence, meet an Israel couple who fled US justice in 1991. This must be so embarrassing for Oozi and his Mrs - Ruth Veronique Cats, it is just such an amazing coincidence.
I know, I know...I do have a bit of a perma love-up with Randgold Resources (RRS), London's largest listed gold company but as it is a year since I wrote my latest paean I felt an update was overdue following last Thursday's numbers.
I’m not a huge fan of EVR Holdings (EVRH) but I have to give a hat-tip to those behind this ‘warrant selling machine’ for one of the best ramps I’ve seen in recent times. Congrats to all concerned.
On the back of real bad news & disclosure, I suggested a lack of confidence in the top brass of Real Good Food (RGD) HERE. I thus note with interest today an announcement entitled “Board Changes”…
It is almost three years since the Equities First Holdings story hit the headlines with the deal signed up with by Rob Terry et al at what was then called Quindell – now Watchstone (WTG) – whereby the sale of shares via a non-recourse sell and buyback deal was dressed up as a director share purchase.
Innovation technology and consulting company Imaginatik (IMTK) has announced results for its year ended 31st March 2017, arguing “a year of good progress as we continue to position the business to capitalise on the growing market opportunity available”. The shares though are at a depressed 2p, so what’s the story?...
Hello Share Saddlers. As I wrote recently, I am in a quandary about what to do with my lorryload of IQE shares. I bought some of them at around 16p and they’re now around 116p as I write. The dilemma is that by holding on, I break a golden rule: always sell the lot after the kind of price jump which makes you gasp for breath.
I revealed on Sunday how Professor Richard Conroy had abused shareholder democracy at a sham of a GM for Conroy Gold & Natural Resources (CGNR). In preventing three rebels from joining the board when that is what shareholders clearly wanted he has shown himself no longer fit to run a PLC. I can only compare his pastoral care of shareholder rights at Conroy to that handed out by the Christian Brothers to their wards at so many boys homes across Ireland in darker days of old. The Professor shames Ireland and shames AIM with his antics. Conroy has today failed to fess up to exactly what went on and also what has happened since. Okay, he asked for this, the Sheriff of AIM needs to go to Dublin.
Having previously noted shares in Transense Technologies (TRT) retaining their something of a recovery, they are currently further higher today, at 80p, on the back of an announcement of a “New iTrack Contract Win with BHP in Australia”…
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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