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Latest News

EVE
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Woodford Dog Eve Sleep releases Interims….oh dear, Neil, got any cash?

Neil Woodford’s revolutionary bedding company, AIM-listed Eve Sleep (EVE), has released its interim results and whilst the company boasts of the halving of EBITDA losses (bullshit losses), revenues are down and it reported losses of £6.7 million on revenues of £12.9 million. Of course, Neil Woodford knows best and has thrown ever more good money after bad into this one-way ticket to financial oblivion and now sees net current assets of £13 million as at 30 June, which the mathematicians of you will see is less than twice the H1 loss – and that was almost three months ago. Eve Sleep needs yet more cash…..and Neil hasn’t got any.

WALG

Filthy Forty Walcom – death postponed again, this time by director loan to subsidiary

Yesterday ShareProphets AIM-China Filthy Forty play Walcom (WALG) announced that its death, due to lack of funds, has again been postponed – to the end of October. This time the saviour was its CEO, Francis Chi, who has offered up a loan of HK$ 350,000 (around £36,000) to Walcom Bio-Technology Chemicals Limited, a wholly owned subsidiary. It is unsecured, but suggests that the plc will be heading for the knacker’s yard and the choice parts will end up owned by someone else.

Bearcast
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Tom Winnifrith Bonus Bearcast: 100% vindicated on Brady at 2.42 PM but it & shit Nomad Cenkos are still not coming clean

Make no mistake, Brady (BRY) and its POS Nomad Cenkos were forced to issue an RNS at 2.42 PM Thursday by the regulators and they did so because of the exposes by me on this website culminating in THIS. I look at where next for Brady, whether its partial 'fess is still giving us the whole truth, at the shocking behaviour of research analysts at Cenkos and at why both company and Nomad now need hefty fines and a public censure.

TERN
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Tern spends its last pennies – when’s the placing/fleecing?

Yesterday on the back of interims from AIM-listed jam-tomorrow investment company Tern plc (TERN) I showed that despite the headlines of the interims, it is running out of cash. This morning, right on cue, it announced yet another quarterly convertible loan has been issued to its supposed jewel in the crown, Device Authority. If my maths is right, Tern will be totally skint by Christmas unless those fine chaps at HMRC hand over a bunch of cash to Device Authority and it hands it over to Tern...

TMO

Time Out Group – interims, Woodford (eventually) correct to sell? (& for the wrong reason and at a lower price, natch)…

Time Out Group (TMO) has announced half-year results from what it argues “has been a transformational period… with the opening of three new food and cultural markets in North America. Combined with the ongoing success of Time Out Market Lisbon, this has driven H1 net revenue growth of 72% for the Time Out Market business”. The shares have though responded little changed at around 128p; how has Woodford got on with this one?…

RBD
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Reabold Resources – Who did you buy Gaelic from and more questions…?

Reabold Resources (RBD) acquired assets in California just over 12 months ago when it bought Gaelic Resources Ltd. I can see some serious questions for this company to answer both relating to the transaction and what has happened since in relation to this asset.

CERP

Columbus Energy Resources – South West Peninsula updated prospectivity, drilling excitement ahoy

Columbus Energy Resources (CERP) “is pleased to provide further information on its planned drilling campaign in the South West Peninsula, Trinidad”. This includes…

Bearcast
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Tom Winnifrith Bearcast: Don't mention the football & trying to be a customer of St James Place

Okay I too mention how my beloved West Ham disgraced themselves last night. I was there. It was awful. A long drive home. This morning I tried doing business with St James Place (SJP). What a nightm are! is there an honest IFA who can help me with a simple problem? I then look at Woodford Patient Capital Trust (WPCT), Big Sofa (BST), Eve Group (EVE), Xaar (XAR)  and what the shock news from Shore Capital (SGR) says about the state of the AIM Casino.

WPCT

WPCT: another writedown for Neil Woodford as Link wields the knife again

At Woodford Patient Capital (WPCT) we learn this morning of a triple valuation write-down which will cost 3.1p per share in terms of NAV. Cynical Bear wonders if two of them are Precision Biopsy (which has actually stopped operations) and SciFluor which Allied Minds (ALM) – in which Woodford has also invested – has stopped funding. The other may be Sphere Medical which went into administration. We are told:

XAR
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Xaar – I having consistently warned… now dire results announcement & to be mass boardroom change

I first cautioned on inkjet printing technology company Xaar (XAR) with the shares rising above 800p in 2013, and have consistently warned since – most recently earlier this month here. Now “2019 Interim Results” and “Board Changes and Succession” announcements – and the shares currently approaching 40% lower on the back of them, to around just 42p!...

Gold

Podcast: gold & silver bull market still has a long way to run

Investor and fund manager Matt Geiger starts with a discussion of the nickel market and its performance over the past year. The long-term demand picture looks good as E.V. adoption rates continue to grow, and Matt suggests that lithium-ion batteries should instead be called nickel-ion batteries. He thinks the market will embrace the improving nickel narrative.

Collapsing-Reactor
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Neil Woodford Redemptions Watch: a big crunch

More bad news for beleaguered Neil Woodford. The benchmark for his Equity Income and Income Focus funds, the FTSE All-Share, may have been largely flat yesterday but the funds’ NAV per unit  dropped like a stone by 2.06% and 1.34% respectively and the total value of Equity Income now sits at just £3.04 billion. It seems just a matter of time before the £3 billion mark is taken out.

IMMO

Immotion – “pleased to announce agreements for three further installs” & interims argue “a winning formula”, but…

“Immotion Group PLC (AIM: IMMO.L), the provider of 'Out of Home' virtual reality experiences, is pleased to announce its interim results for the six months to 30 June 2019” and also “agreements for three further installs in its fast growing Aquarium sector”. However, a current 6.75p share price compares to a 10p IPO little more than a year ago…

WPCT
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RIP Sphere Medical – another Woodford disaster bites the dust, Neil threw so much good money after bad as he knew best ( again)

Yet another Neil Woodford disaster has gone bust. Sphere Medical was once on AIM but with Woodford chucking in more cash (good money after bad) as it delisted because it saif it would prosper more as a private company this is another case where Nomates knew best....

CNS

Corero Network Security – interims argue “well-placed for growth”. Er… what about the required, material fund raise?!

Corero Network Security (CNS) has announced results for the first half of 2019, including emphasising “the board continues to believe the business is well-placed for growth”. Having commenced the year heading towards 13p, the shares are currently a further more than 5% lower today heading towards 2.5p. Hmmm…

VRS
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Lucian Miers & Tom Winnifrith feature in another cartoon by Versarien owning moron Roger the Grouch

Shareholders in Versarien (VRS) need something to cheer about as the wheels start to come off this ludicrous promote. Step forward moronic shareholder but talented cartoonist Roger the Grouch with this Rugby World Cup themed offering. I think I'm the fat bear, Lucian the squashed one. Natch ramper in chief Neill Ricketts is the hero..

Bearcast
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Tom Winnifrith Bearcast: Off to the City of Lost Causes to see the Mighty Hammers

Yes my daughter and I will be at Oxford United tonight to see the mighty Hammers. COYI. As I try to contain my excitement I discuss Neil Woodford and what the dumping of IP Group (IPO) shares tells us, Aston Martin Lagonda (AML), the FCA and mini bonds and Alexander Mining (AXM).

TERN
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Tern – Interims finally arrive and they are truly awful. SELL

Jibed by me yesterday, AIM-listed jam-tomorrow investment company Tern (TERN) has finally got around to releasing its interims and as suggested the numbers are truly awful. Indeed, without a placing or a disposal it looks set to be out of cash by Christmas despite the placing to raise £1.5 million (with 10% costs!) shortly after the FY18 umbers were released. So much for being fully funded to the end of this year, as we were being told last year. When’s the placing and what will be the discount demanded by the bucket shops? Or will Tern just go bust?

AML
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Aston Martin foolishly thinks raising money at 12% is good business

The best line from today's crop of regulatory news statements is undoubtedly the observation from Hornby (HRN) that 'We regret not producing a Brexit themed model. Our new grasp of social media has shown us that people are passionate about sharing their views on the topic. If the situation persists, we have plans for a locomotive that reliably gets stuck between stations'. Very good! Also before we get to the main event…

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