The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
Published 2074 days ago
I notice that shares in First Derivatives (FDP) have been on the slide since the sad and untimely death of its CEO and founder Brian Conlon on 28th July. My sympathies go to his family and all his many friends. I see that Tom Winnifrith reckons that shares in First Derivatives represent something of a binary bet; either the whole company is acquired by an entity that buys out the 24% held now by Conlon’s estate, or the shares tank when new management come in and start looking at what First Derivatives really is…
Published 2388 days ago
While readers reflect upon the various related party transactions undertaken by First Derivatives (FDP) over the years, see HERE and HERE, and in anticipation of further revelations to come do the smart thing and SELL, it seems an opportune moment to consider more recent “contract wins”.
Published 2378 days ago
A few days ago I showed hard evidence that the 2002 IPO of First Derivatives (FDP) was based on false earnings. That was dismissed by supporters as being so long ago that it did not matter. It does! But how about we move to the issue of whether reported earnings in the past three years are "real" or cooked up. I suggest it may well be the latter in which case the stock is going to tank at some stage, soon, when investors realise this. Let me explain...
Published 2380 days ago
We pointed out numerous red flags at Globo (GBO) for two years before finally sinking the fraud by publishing Gabriel Grego’s dynamite dossier but some folks knew better. In the fund management community the fraud’s biggest supporter was Harry Nimmo of Standard Life whose fund (other folks cash) were on the register to the bitter end. Harry was a true Globo believer. Now he has weighed into bat for First Derivatives (FDP) which has also, arguably, committed fraud as we revealed HERE.
Published 2068 days ago
UPDATED: Earlier today I revealed that AIM superstar First Derivatives )(FDP) had been sitting on highly damaging and adverse price sensitive information since Tuesday of last week and had not disclosed this to the market. But it could be far worse. Far worse. I have thus written to both the FCA and to AIM Regulation demanding an immediate formal enquiry into a range of possible offences. It now emerges the case settled on Friday (terms unclear). That does not mean that on Tuesday/Wednesday it should have not been announced.. The letter is below:
Published 2351 days ago
As you may be aware, the accounting watchdog, the Financial Reporting Council (FRC) is a great admirer of the work of The Sheriff of AIM. And always keen to give my good friends a pointer, I have today submitted a formal request to investigate the last three year’s accounts of First Derivatives (FDP). The issue is whether stated earnings represent the underlying picture. My letter, below, is to the point.
Published 2381 days ago
I doubt that there was the slightest sense of embarrassment at last week’s AIM awards (a ghastly sounding knees up for the world’s seediest stock market) when First Derivatives (FDP) picked up two gongs: Best Technology award for the company itself and Entrepreneur of the Year Award for its founder and CEO Brian Conlon. Presumably these awards were decided well before First’s price tanked amid some serious concerns being raised and the organisers, in true AIM style, were too gormless to think on their feet and give them out to a less dodgy enterprise.
Published 1272 days ago
It was back in July 2018 that I first started to expose the murky and, at times fraudulent, world of First Derivatives (FDP) and its scandal plagued auditors at KPMG Belfast, with the shares at £46. A lot has happened since then. Fascist PR pigs FTI tried to bully me to take down my articles but I told the mothers where to stick it. I reported First to the FRC and it was forced to restate its crooked accounts signed off by KPMG. And Brian Conlon, the CEO and architect of this enterprise sadly passed away leaving his grieving widow as the largest shareholder. Today the name is now FD Technologies (FDP).And it is still a cracking short ahead of numbers next week.Let me explain.
Published 2068 days ago
UPDATED: This begs all sorts of questions about First Derivatives (FDP), an AIM casino listed "superstar" about which we have repeatedly warned (and been vindicated by regulators acting on our complaints). The company faced a lawsuit that could bankrupt it and has failed to notify investors, a clear breach of AIM Rules.
Published 2388 days ago
The related party deal exposed HERE on Saturday that helped First Derivatives (FDP) to list via crooked broker JM Finn should have made any sane investor run for the hills. But for insane investors still on board there are more whiffy deals to examine. So here is number two...
Published 2390 days ago
Matt Earl has already done valuable work on First Derivatives (FDP). But is there a smoking gun? Let's rewind sixteen years...2002 was a tough year to launch a tech IPO.
Published 2387 days ago
In a weekend bearcast I flagged up that the real issue with First Derivatives (FDP) is that its core business is a rotten generator of cash. And that – as well as the fraudulent IPO and dodgy related party deals is why the shares ( off again this morning to £28.35) remain massively overvalued. So what do you do if you are set to report dire free cashflows? Natch turn to the Sam Antar playbook – meet 1010 Data
Published 2312 days ago
Given that its IPO prospectus was fraudulent and how its earnings have been materially overstated in recent years as demonstrated here, only the sort of moron who would back the fraud Globo to the hilt would still be owning shares in First Derivatives (FDP). They are an outstanding short at 2125p. But now lets look at kX and something that might just blow up First early in the new year.
Published 2491 days ago
I am the last person to berate the fine folks from my family’s ancestral homelands of the Kingdom of Ulster or indeed the modern day province. SUFTUM is what I say as I wake up every morning to retweet - with my own comments - @onthisdayPira . But some communities are just perhaps just too tightly knit, too cosy. I refer to the accounting arrangements of First Derivatives (FDP).
Published 2359 days ago
As I write, shares in First Derivatives (FDP) the company floated via a fraudulent IPO and which has overstated its earnings by c50% for each of the past three years, are surging. Interims have gone down well and the stock is up 160p ( c5%) at £34.10. But hang on Henry… here are 11 points you may wish to consider before buying
Published 197 days ago
Back in June 2018, I opened my account on First Derivatives (FDP) urging you to short the shares at £46, a £1.2 billion market cap. The red flags were everywhere but natch everybody said I had got it wrong about a company which had picked up gongs at the AIM awards three times! Today that core business has been sold for an EV of just £230 million although the cash receipts are just £205 million. Complete vindication!Published 2378 days ago
Anyone still owning shares in First Derivatives (FDP) after our string of revelations culminating in today's uber-aggressive mega-earnings flattering accounting policies HERE, is bonkers. Well it never rains but it pours...
Published 2385 days ago
Okay this is not a slam dunk pig and pork like the one that enabled the really dodgy IPO handled by bent broker JM Finn, bit it seems that every "deal" announced by First Derivatives (FDP) now has to be examined to see if it is what it purports to be. Following on from the “contract win” with Red Bull Racing, which appears to be more akin to a sponsorship deal, another “contract win”, which should bear much closer scrutiny is the one with NASA.
Published 2385 days ago
I cannot remember the last time a Northern Ireland player scored a hat-trick in an international. But tonight I am hopeful that Belfast’s finest, First Derivatives (FDP), will pick up three gongs at the annual AIM Awards crony capitalists bean-feast and do the six counties proud. Heading the charge is CEO Brian Conlon who is short-listed for “entrepreneur of the year” sponsored by Octopus Investments. The Judges will have ruled on that before we pointed out that his whole IPO was based on a fraud. It gets better…
Published 2355 days ago
In this week’s article, we review five key trading updates made in November so far, and analyse how brokers and tipsters have interpreted the most recent figures.
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