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Results: TRAF

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EPIC TRAF
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Trafalgar Property – “debt consolidation”, but it to make little difference?

AIM-listed Trafalgar Property (TRAF) has released a statement detailing a debt consolidation which will offer some comfort to shareholders as they consider the negative net asset position of MINUS £3.3 million and negative net current asset position of MINUS £345,000 as at the last results (interims to September 2021). But I fear that it will make little difference.

EPIC TRAF
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Trafalgar Property – Mystic Meg Strikes Again As Placing Collapses Shares

Only last Sunday I showed that AIM-listed Trafalgar Property (TRAF) was technically insolvent, with MINUS £345,000 in net current assets, net assets of MINUS £3.3 million and cash of just £24,000 all as at last September. With a big ramp in play following the appointment hydroponics specialist of Dr Paul Francis Challinor, it was surely obvious that a discounted placing was on the way and whilst everybody was putting the finishing touches to the Platinum Jubilee bunting at 3.07 pm the day before a double bank holiday – truly no-one-is-watching o’clock - the company duly announced the issue of 133 million new bits of confetti at a massive discount. Nice work – call me Mystic Meg.

EPIC TRAF
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Trafalgar Property – “No Reason” For Share Price Increase As Test-Tube Tomatoes Return

First thing this morning AIM-listed Trafalgar Property (TRAF) announced a board appointment, and the shares shot out of the traps like rocket on speed, trebling in the first two hours of trading. The excitement was to do with the arrival of Dr Paul Francis Challinor as an executive director. Dr Challinor specialises in indoor hydroponic vertical farming – so the tomatoes-in-test-tubes have returned!

EPIC TRAF
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Trafalgar Property – Another Dismal Set of Results from Housebuilder specialising in losses during a Housing Boom

Yet again AIM-listed Trafalgar Property has posted calamitous results in a housing boom, describing the year to March 2021 as “disappointing”, blaming Covid-19 natch. It boasts negative net current assets, negative net assets and it is of no surprise that the auditors saw fit to offer warning of a material uncertainty when it came to signing it off as a Going Concern. What’s not to like?

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