Frontier Smart Technologies – “pleased to announce… Board Transition, Refinancing and Strategy”… but still trading turnaround needed
Gulf Marine Services – from late May “improving pipeline of opportunities” to now “disappointed to reset guidance for 2019”!
Tom Winnifrith Bonus Bearcast for Roger Lawson: your post Burford proposals are largely unwise & would be, largely, counter productive
Brady – from end-May “new sales pipeline is building” to now “revenue from new customers forecasted will not materialise during fiscal 2019”!
I am delighted to say that my good friends at the Financial Reporting Council have acknowledged receipt of my dossier on Diversified Gas & Oil (DGOC) and are now looking at accounts which clearly need massive restatements. Meanwhile I see that the company is hosting a lunch for private investors on June 26 in London. Sadly I’m busy that day, as it is the day major renovations start at my Welsh hovel but if you want to attend email James Husband DGO@buchanan.uk.com . More pressing are the forthcoming interims….
As I noted in my earlier bonus bearcast, Diversified Gas & Oil (DGOC) or its agents at Cenkos, Stifel and Mirabaud are almost certainly briefing the dumb fucker insitutions who own this stock that I do not understand IFRS 3 and so my claim that its accounts grotesquely overstate "profits" and must all be restated are hogwash. Au contraire...I now refer you to PWC.
Yesterday I highlighted the numerous issues which make Diversified Gas & Oil (DCOG) the most overvalued oil stock on AIM. The crux of the issue is that its freported profits since IPO have been generated almost entirely from aggressive accounting as opposed to producing hydrocarbons. I believe its accounts breach IFRS 3 and must therefore be completely restated which will wipe out nearly all of its retained profits. Let me explain.
I take my hat off to a chap who has created the blog Oarfish Research for he is a truly talented individual who has produced some spectacular research on £878 million capitalised ( at 126p) AIM listed Diversified Gas & Oil (DGOC). Reading Mr Oarfish’s truly spectacular analysis I can only conclude that this company is monumentally overvalued. It could be the most overvalued stock on AIM.
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