Minoan – fundraising at a massive premium to recent share price, Buy
Updating on Minoan (MIN) with the shares at 1.9p earlier this month, we noted that, although the track-record suggests to be cautious and there may well be some further equity dilution to come, the potential for the shares to soar on a Crete project deal meant we continued to consider they merited at least a small, speculative position. Now “a proposal which the directors believe will provide the company with sufficient liquidity to service its short term cash obligations and to strengthen its balance sheet… believe… will greatly assist the group in its ongoing discussions and negotiations with third parties”…
- By HotStockRockets |
- 26 April 2019, 09:00 |
Ferrexpro auditor quits – the silence is deafening
The announcement from Ferrexpro (FXPO) today is brief but shocking.
- By Tom Winnifrith |
- 26 April 2019, 08:43 |
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EXPOSE: Bidstack: Placing underway and struggling after nine days
I have suggested in a number of recent bearcasts that Bidstack (BIDS) was the most over-ramped and overvalued stock on the AIM Casino and also that it would have to do a placing within six months to keep the show on the road. A City source has now provided me with more specific information, an offering is already underway but it is struggling.
- By Tom Winnifrith, The Sheriff of AIM |
- 26 April 2019, 08:16 |
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Audioboom struggling with placing, forced to scale back, dissembles in face of our scoop
Yesterday I revealed that Audioboom (BOOM) was running around trying to raise £8 million at 2.5p HERE. The Company has responded with an RNS "Statement re Online Commentary on proposed fundraising." Oh come on CEO Rob Proctor you free speech denying knobhead, surely you can brinmg yourself to recognise which fine website scooped you and forced the statement. The statement natch dissembles as I shall demonstrate below.
- By Tom Winnifrith, The Sheriff of AIM |
- 26 April 2019, 08:15 |
Toppled Taylor Wimpey Shares May Build Back - Once Headwinds Are Put into Perspective
Hello, Share Snatchers. Now might be a good time to buy shares in Taylor Wimpey (TW.). The homebuilder took a big hit this week when it warned that increasing costs of building materials would knock profits in 2019. At one stage the shares were off by 7.6%...
- By Malcolm Stacey |
- 26 April 2019, 08:15 |
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BREAKING EXCLUSIVE: Project Coffee - Audioboom set to place again at 2.5p
The codename for the latest bailout funding of Audioboom (BOOM) is Project Coffee. The presentation, which I have seen, gushes about growth opportunities but that is always the way with this serial deliverer of jam tomorrow. There is no mentioning of burgeoning trade payables. That is always the way with Audioboom and its bailout placings. Anyhow, the company is, according to its jargin filled document "now seeking to raise a ‘growth’ capital round of c£8m at c2.5p per share." With the stock at 2.3-25p that might be a bit of an ask. Time for an official comment on this ShareProphets scoop methinks...
- By Tom Winnifrith, The Sheriff of AIM |
- 25 April 2019, 16:31 |
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Tom Winnifrith Bearcast: The curse of loathsome ex Tory MP Tony Baldry is striking again
In bearcast i raise unanswered questions about Westminster Group (WSG) run by smug lardarse Tony Baldry and ask how soon the next bailout placing will be and at what price. I look again at the most overvalued & over-ramped stock on AIM, Bidstack (BIDS), at BlueJay Mining (JAY) and at AO World (AO) and Purplebricks (PURP) two companies that boost profits by ripping off customers.
- By Tom Winnifrith |
- 25 April 2019, 15:52 |
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Laura Ashley – intra-day “Notice of Results & Trading Update”. Not again!...
In 2017 I wrote on homeware and fashion retailer Laura Ashley (ALY); a 1:30pm “Notice of Results & Trading Update”. Routine, right? Er…. At 10:29am today another such announcement…
- By Steve Moore |
- 25 April 2019, 14:30 |
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Neil Woodford Dog NetScientific – CEO walks “to assist….in reducing central costs”
AIM-listed Woodford dog Netscientific (NSCI) has announced the departure of its CEO, Francois Martelet as from 30 April 2019 – just a few day’s time – in order to assist the Company in reducing its central costs and pursue other career opportunities. Well I daresay not having to pay his salary, bonuses and medical insurance will help a little with the company’s forthcoming cashflow difficulties, but if he is departing to help the company why is this all in accordance with the terms of his service agreement?
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 25 April 2019, 13:29 |
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Daniel Stewart Administrators Report - go whistle for £8 million
The administrators first report on the late lamented Daniel Stewart (DAN) is out and is published below. Red faces all round and a bit of a £50,000 question for NEX listed China POS Gamfook.
- By Tom Winnifrith, The Sheriff of AIM |
- 25 April 2019, 11:32 |
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Do the Fandango – Charles Tatnall reveals the money go round
Cynical Bear has been in touch to flag up more strange money go round happenings in the Standard List mini empire of worthless shell companies controlled by Charles Tatnall. For Fandango Holdings (FHP) has just released its results for calendar 2018. It loks grim but also odd.
- By Tom Winnifrith |
- 25 April 2019, 11:28 |
Synnovia – follows “broadly in line” February update with profit & accounts disappointment
Writing on industrial components and consumables manufacturer Synnovia (SYN) - Plastics Capital as was - in February, I questioned is a 10%+ forecast reduction really “broadly in line”?!. Now a “Trading Update and Restatement of Accounts”. Uh oh…
- By Steve Moore |
- 25 April 2019, 11:16 |
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Shrug the shoulders at Barclays, Sainsbury and Taylor Wimpey
Hello the global earnings season. This is a quarterly reality which makes my life periodically very busy...but what could be more interesting than zoning into the latest thoughts of a bunch of corporations around the world? Three in the UK market capture my attention today…
- By Chris Bailey |
- 25 April 2019, 09:20 |
RBS CEO quits – will this fat cat get his cream cake and eat it?
RBS (RBS) has announced that after five and a half years of earning a basic salary of a million quid a year plus numerous bonuses, LTIPs etc, Ross McEwan has resigned from his role as Chief Executive Officer (CEO) and Executive Director. We are told that bankster fat cat Ross is on a 12 month notice period.
- By Tom Winnifrith |
- 25 April 2019, 09:11 |
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Minoan – subscription, open offer, directors’ debts for equity all at a big premium
In many ways the announcement of more confetti from AIM-listed Minoan (MIN) is a big disappointment. After all, it has an asset worth many times its market capitalisation, several multiples of the enterprise value and is also carried on the books in the recent (audited) full-year results at heavy multiples of market cap and EV. And we are told that there are interested parties who want a piece of the action – so why not just sell it? Well, it is more complicated than that...
- By Nigel Somerville |
- 25 April 2019, 08:25 |
The British Engineering Pioneer and the Electric Bus that Zooms Along at 350 miles an Hour
Hello, Share Plungers. Here’s a company which should please green investors. Its aim is to bring cleaner and cheaper energy to businesses, homes and vehicles. Ceres Power (CWR) researches and makes fuel cells...
- By Malcolm Stacey |
- 25 April 2019, 08:15 |
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Ooops I forgot to say this in bearcast (Wishbone)
Thanks for all your emails, fellow shareholders. I had indeed noticed that shares in Wishbone Gold (WSBN) were down by c27% today at 0.07p and so put in a call to Richard Poulden.
- By Tom Winnifrith |
- 24 April 2019, 16:08 |
Westminster Group – contract award ‘delight’… but still balance sheet fright?
A “New $3.48m USD Contract Award - Asia” announcement from Westminster Group (WSG) – with Chief Executive Peter Fowler “delighted to be able to announce this latest new contract award for large scale screening solutions, which has been secured after a prolonged period of negotiations” and the shares currently higher, towards 9p, in response. Hmmm…
- By Steve Moore |
- 24 April 2019, 16:00 |
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Tom Winnifrith Bearcast: Psst - does anyone want to buy a bucket shop?
In today's bearcast I cover Optibiotix (OPTI), Vela (VELA), Woodford Patient Capital trust (WPCT), Ascent Resources (AST), Mosman Oil & Gas (MSMN), Management Resource Solutions (MRS), Bidstack (BIDS) and Optiva/Novum and a hot City rumour. Also I have a message for 90% of listeners - please be a hero today, my 21 mile training walk for this weekend has been planned so donate to Rogue Bloggers for Woodlarks HERE
- By Tom Winnifrith |
- 24 April 2019, 15:28 |
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Johnny Mercer MP & the mini bond scandal, a useful dupe with a grossly inflated sense of self worth
Let us be clear: Johnny Mercer, the Tory MP is not involved in the London & Capital Finance scandal which we have done so much to expose. But he is personally profiting from what will prove to be the financial scandal of the year, the mini-bond mis-selling affair, and his reaction to criticism of his behaviour is lamentable.
- By Tom Winnifrith |
- 24 April 2019, 14:16 |