Vela Technologies (VELA) has announced results for its year ended 31^st March 2019 and that “we are mindful of the potential substantial uplift in the value of certain companies within the Vela portfolio”, but the results themselves don’t please…

In today's podcast I look at the ludicrous idea of Tax Justice UK and Oxfam for a new wealth tax like the Spanish one. Whatever. Then I look at Intu (INTU) and finally at Versarien (VRS).

You all know what I think about the peer-to-peer lending Funding Circle (FCH) which i have written about negatively a couple of times in the last few months, most recently here   Back then I concluded 'you do not need to get involved... unless you are a desperate business which really, really needs finance and the mainstream banks have prudently turned you down already. For the rest of us, grab some popcorn and watch the ongoing post-IPO car crash'.  Broadly speaking this still feels a very, very prudent position to take.  

Okay, another placing from Big Sofa (BST). Cynics and bears can laugh at we shareholders but they will not be having the last laugh. At 3.8-4.2p the stance, at up to 4.5p is STRONG BUY with a target to sell of 6p+ achievable within weeks.

I commented on Reabold Resources (RBD) a few days ago and considered the company has some serious questions to answer related to the Gaelic Resources Ltd transaction. Yesterday Reabold put out its interim accounts. It answered two minor questions I had raised, but not the substantive questions I posed – who owned Gaelic and what is Dero Parker’s involvement?

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From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2018 and thus far in 2019 (by net short position %, those in bold not on the list at the start of 2019) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Yesterday the FTSE All-Share index, Neil Woodford’s benchmark for his Equity Income and Income Focus unit trusts, put on 0.99%: it had a good day. That didn’t help the Woodford unit trusts, however, as according to Morningstar Equity Income lost 0.37% in NAV per unit and Income Focus dropped 0.34%. Woodford’s Equity Income fund size was £3.7 billion when it was gated at the start of June. Now it has fallen to £3.02 billion – yet the FTSE All-Share has gone up over the same period.

AIM-listed Tern (TERN) has come in for a bashing in these parts, especially following the release of its half-year numbers which I think show there is a monster cash-crisis in the making. Today its jewel in the crown - or perhaps more aptly the thorn in its side - major investee Device Authority released its FY18 numbers and they are not pretty. For starters, it boasts net assets of MINUS £923,294. If that is the best Tern has to offer, then its shareholders had better brace for a crash-landing...

Previously writing on Location Sciences Group (LSAI), with the shares recovering above 3p I concluded asking requiring discounted fundraising ahoy?. Certainly, I look forward to seeing the half-year balance sheet by the end of this month – and, natch, at least currently, continue to avoid. Now there’s been the results announcement and “Result of Placing”…

Bluebird Merchant Ventures (BMV) “is pleased to announce that… it has now received formal communication from the Ministry of Trade, Industry and Energy in South Korea, confirming that the application for a 'Permit to Develop' the Gubong mine is to be granted” as well as updating including “the Kochang application is progressing well”…

In today's podcast I look at Numis (NUM), Sirius (SXX), Brady (BRY) and George Roach run POS Premier African Minerals (PREM). I also express my anger at the faux anger of those bastards in Westminster as they spout humbug. 

Audio-visual systems for organisations-focused MediaZest (MDZ) has updated including that “two large projects set for completion in November/December… should generate significant profitability in the quarter ended 31 December 2019” and “new business enquiries in recent weeks have markedly increased and several potentially significant opportunities are being pitched in coming months”. The shares have responded currently more than 14% higher to 0.08p…

Looking back a couple of months to my appearance on Tom's radio show many of the views I expressed there have aged pretty well. Long/buy calls such as Barrick Gold (GOLD in the US) and easyJet (EZJ) have performed appropriately whilst dogs such as Metro Bank (MTRO) and Dignity (DTY) keep woofing. I remain amazed that shares in bad boy St James's Place (STJ) have so far shrugged off a bunch of disaster stories about its overcharging culture...you can guess my continued negative thoughts on that one. However, one share which I mentioned and has not behaved as I would have hoped in the last couple of months is Imperial Brands (IMB)...

Yesterday Neil Woodford’s benchmark for his Equity Income and Income Focus funds, the FTSE All-Share, put on a quite impressive 0.7%. Unfortunately this was not reflected in the performance of the unit trusts’ NAV per unit, which fell by 0.2% and 0.87% respectively. Of course, the FTSE All-Share is perhaps a poor benchmark, but in the absence of a FTSE Bag-Of-Nails index, it is the best we can do. The latest drop left Woodford’s Equity Income Fund on the cusp of crossing the £3 billion mark – it now sits at just £3.03 billion. Will it finally drop below that today?

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.

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.

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.

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...

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?…

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.