Just one guest in this week's show, Andrew Bell of Red Rock Resources (RRR) and The Brexit Party. we discuss UK politics, gold, AIM's woes and Red Rock. Before Bell I look at recent bond flops and the looming liquidity crisis. After Bell I look at share options with reference to Falanx (FLX) where we shareholders have been kicked in the goands. If you like this and can't wait seven days for more of the same you should listen to my Bearcast every day.

Revolution and Revolución de Cuba bars group Revolution Bars (RBG) has announced results for its year ended 29th June 2019 and “over the last three months our like-for-like sales have consistently outperformed the 'Bars & High Street Bars' cohort in the CGA industry sales tracker for the first time in over eighteen months as we start to recover market share”. No longer short of expectations in every conceivable weather environment?...

The Financial Reporting Council has announced that it is to open an enquiry into the accounts of Thomas Cook (TCG) for the year ended 30 September 2018. Too little too late you say. Well perhaps, but what is at stake here is the poison at the heart of capitalism, the incestuous relationship between auditors and PLCs.

“iomart Group plc (AIM:IOM), the cloud computing company, is pleased to provide its pre-close trading statement for the six months ended 30 September 2019” – but the shares are currently in retreat…

AIM-listed Woodford dog and purveyor of revolutionary computer generated drugs Verseon (VERS) released its interims results yesterday – deadline day. A look at the balance sheet says it all as the company bleats that its Magic Money Tree (ie Neil-Knows-Best Woodford) is barren. It has no income, is piled up with debt and nobody wants to invest.

Yesterday the FTSE All-Share, Neil Woodford’s benchmark for his Equity Income and Income Focus Funds, dropped 0.23% but for a change the Woodford unit trusts went up by 0.60% and 0.40% in NAV per unit respectively. Some good news for Neil: his Equity Income Fund has held on to the £3 billion mark for now, but redemptions continue at Income Focus.

From my larger cap perspective, a slightly dull regulatory news disclosure crop for the first two days of the business week. I see the plumbing and heating systems company Ferguson (FERG) - whose decision to spin-out its small UK business I supported a few weeks back - puckered up its full-year results which showed between 6-8% growth at both the revenue and profit level, led by the US business (which accounts for around 90% of overall turnover). Despite this, a 10% rise in the full year dividend and comments observing it is 'well-placed' for 2020, at sixty quid a share I cannot get excited – even if it is doing the right thing with the UK business. Otherwise, I have to make a rare analytical foray into the AIM cesspit…

Last night the disgraced dirty tricks specialist PR man Tim Thompson orgnaised a ramptiastic investor evening giving his client Angus Energy (ANGS), run by Lucky Lord Lucan, the chance to meet Bulletin Board Morons. What happened next is bonkers.

Hello Share Dwellers. At the risk of repeating myself, I’ve long thought our love of pets is a money tree for those in the tame animal industry. One of my favourite pennies Avacta (AVCT) is a case in point, though its share price doggedly fails to take off and it’s also involved in human medicine. So let me suggest another company which does treatments for ailing animals...

Susan Searle, Chair of Woodford Patient Capital Trust (WPCT), really does have some explaining to do as WPCT released its half-year numbers to the market this morning – reporting deadline day. Quite apart from the shocking performance of the fund under her watch, and the total mess it is in, we have been treated to an admission that the quoted NAVs released by the company have, quite simply, been wrong - a work of fiction.

Sometimes I wonder if those running and advising companies and stupid or if they just think investors are? I guess in the case of Bidstack (BIDS) it might be fair to assume the latter, as it served up interims today.

Earlier today I revealed that Bahamas Petroleum (BPC) was trying to raise $25 million. It could not do it at 1.4p so is now trying at 1.2p and that it has had to rope in bucket shop brokers such as Novum and Cornhill shows that it is struggling. The company has responded but, thanks to Winnileaks, it has dissembled as I demonstrate  with an email that has fallen into my hands as you can see below.

Further to this morning’s bombshell over the appointment of Raymond Abbot to the board of Woodford Patient Capital Trust (WPCT), it seems that the board of WPCT itself needs to issue a correction as it got one of his former companies wrong. Indeed, whilst it is at it, perhaps it would like to offer some explanation of his tenure at Climate Change Capital which appears to have ended in ignominy, for it appears that Foresight 4 was not the only shambles on his report card.

In today's podcast I discuss Brady (BRY), Mobile Streams (MOS), Woodford Patient Capital Trust (WPCT) and its financially illiterate advisor Nomates,  Sirius (SXX0 and Bahamas Petroleum (BPC)

Last week I reported Brady PLC (BRY) and its Nomad to AIM Regulation and the FCA over material non disclosures. As a result, the former forced Brady to issue an RNS in which it came clean as to the horror of its financial position. Now it seems as if the latter is looking at my material and might just launch a formal investigation. The FCA has been in touch with its favourite investigative journalist and writes:

Oh dear, oh dear. Is Susan Searle, the Chair of Neil Woodford’s Woodford Patient Capital Trust (WPCT) thinks that the evolution of its board as announced this morning is going to reassure anyone she has another thing coming. Take the appointment as announced today of the very fine Mr Raymond Abbott…….

Saying that he wished to pursue more entrepreneurial opportunities,  the founder and CEO of Audioboom (BOOM), free speech denying Rob Proctor has quit the company with immediate effect. Feck off Rob, the only question is whether other family members on the payroll (employed on merit natch) will be going too. And what, or who, prompted the departure of Proctor pere?

I now have it double sourced that Bahamas Petroleum (BPC) is struggling to get away a placing to raise $25 million. At 1.875p the market cap is £29 million.

Why family offices around the world are building cash? Maybe because the twilight period of global equities is coming to an end, and a growth scare could be imminent...

Hello, Share Travellers. It’s eye-opening how much a stay abroad tells you about the British economy. Having just returned from Lisbon, I am amazed by the locals’ political knowledge – and especially of their insight into our economy. But I didn't just speak to Portuguese business folks...