Tom Winnifrith Bearcast: BREAKING, the first member of the Quindell crime gang to face legal action - it should be this week
View from the Montana Log Cabin – Am I worried about gold and gold shares ? No, time to get the buying boots out!
A press article arrived in my inbox this morning, from Italian newspaper and fine bastion of journalism La Repubblica. Unfortunately my Italian is not up to much, and the Google translate perhaps loses a bit in translation. As far as I can make out the article concerns Mr Dominc White, who is a director of Supply@me Capital (SYME) and of Acquis-listed (formerly the NEX lobster-pot) Eight Capital Partners, which has shareholdings in various UK and Italian companies – one of which was Sport Capital Group (SCP), an outfit run by John Treacy (who was also a director at Eight Capital Partners) - and Palermo Football Club. If I were a shareholder in Supply@me, reading the translation would worry me somewhat, but as I said, I don’t speak Italian. Any help in the comments section would be much appreciated.
It was back in 2014 that ShareProphets nailed Rob Terry and his sidekicks after they did a stock loan with Equities First which turned out to be a discounted outright sale with an optional buyback clause, and spent a tiny proportion of the proceeds on buying a handful of extra Quindell shares. Of course, the transaction was presented to the market as them buying more stock when in fact they were selling vast quantities of shares – the killer punch being that those Equities First deals were non-recourse.
Earlier, I flagged up howone twitter moron, AIM Investor, blamed me for losing so much money on shares in the fraud Supply@ME Capital (SYME). Oh dear, it seems as if he has reacted badly, changing his name to Warren Buffett and saying, as you can see below, he will pass my musings onto the boss of Supply@ME for him to assess. Go on fellows, please try to use lawyers to threaten the Sheriff of AIM as it always ends so well for CEOs who go down that path. Sell y'all in Court bitchez!
Such are the stages of grief, those who have lost out seek folks to blame. Supply@ME Capital came to the market via an RTO at 0.68p on March 23 2020. Its prospectus was, at best, grotesquely misleading and, in my view, fraudulent, mistating both assets and the trading posution. Today we have published yet more shocking revelations and shares in the, almost insolvent, company languish at sub 0.05p to sell. They are worth 0p. So who is to blame for the losses suffered by morons like @Aimfatgreek who takes to twitter? Er.... you will never guess. Or maybe you have seen this play out before.
Surely, after the latest shocking revelation about Supply@ME Capital (SYME), it is only a matter of time before the chocolate teapots at the FCA move in to stop parties linked to CEO Alessandro Zamboni from the covert dumping of more worthless stock on private investors. If you do own the shares, here is another reason to quit - broker Stanford Capital has had enough.
Tom Winnifrith says folks should be in jail over the RTO prospectus and assiociated placing for Supply@ME Capital (SYME) with its bogus balance sheet, untrue claims about trading and worse. But if that was not bad enough we have share trades this week, aka hidden and illicit dumping by the CEO accompanied by blatant share ramping, which should have the FCA suspending the shares at once. I start with a chart of the price and trading volumes.
Okay, this is not a £226 million investor mislead. But as near insolvent Supply@MECapital (SYME) tries to ramp its shares ahead of some sort of financial bailout I can state categorically that someone is telling a 100% slam dunk outright lie.
Supply@ME Capital (SYME) must hold some sort record for incompetence by managing to show Proforma Net Assets of £226.3 million in its Prospectus dated 4 March 2020 which then become net assets of only £778,000 as shown by its accounts as at 31 March 2020 when announced on 1 July 2020. I have explained why this is such a monumental scandal and what happened HERE. But who exactly is to blame? This will shock you.
At 6.34 PM last night, well past no-one is watching O’Clock, Supply@ME Capital (SYME) snuck out interim results for the 12 months to March 31 2020. It is interims as the company is chaging its accounting date but that period encompasses 8 days as a Standard Listed company following the RTO into Abal Group. The loss? £225.177 million. WTF?
This is the final part of a three part series looking at Supply@ME Capital (SYME). In yesterday's article I wrote, in reference to the claimed balance sheet treatment of Supply@ME's product, that "I'm very sceptical of this claim and don't believe that it can be true". It's only right that I justify the use of those words.
It was a Proactive webinar that first drew my attention to Supply@ME Capital (SYME) prompting this three part series which started by looking at the smoke and mirrors of the IPO HERE. I've watched ithe video again, to remind myself of the particular comments that I found so objectionable; but before I go through them let me tell you a little about my background to give you some idea of my experience.
My attention has recently been drawn to Supply@ME Capital plc (SYME). It claims to be "an independent fintech company providing an innovative proprietary inventory monetisation service to companies in a wide range of industrial sectors". SYME’s prospectus further states that it is "developing a proprietary, digital system which underpins a fintech platform designed to enable customer companies to monetise their inventory via “true sales” transactions" and then bedazzles with gobbledegook referencing "securitisation notes", "special purpose vehicles", a "digital inventory tracking system" and other buzzword bingo terms.
Search ShareProphets |
Recent Comments |