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The other day I suggested that AIM needed to introduce a Lenigas law whereby if a known associate of a company director sold his asset to that company he needed to declare how much he paid for it. Lenigas has punted on 2 assets on an undisclosed mark up to his pal Richard Poulden at Wishbone Gold (WSBN) where, for reasons I find it increasingly hard to justify, I am a shareholder. But Alien Metals (UFO) is another can of worms. And guess which penny share huckster pushes this one.?

NEWSFLOW

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Yesterday I flagged up an acquisition made by Alien Metals (UFO) which stinks. Its Nomad, London’s worst Nomad, Roland “Fatty” Cornish clearly does not know how to use google.

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Let nobody suggest that David Lenigas is a shameless penny share huckster who makes Zak Mir look like a man of impeccable integrity. The great analyst (Lenigas not Mir) has highlighted a stock I own as one of his top 5 ramps, ooops I meant, conservatively analysed value investments, for 2022 but suggests you do your own research before filling your boots. Well since you mention it Dave, I might as well flag up the shite you are talking about one of the five.

NEWSFLOW

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Roland “Fatty” Cornish, London’s worst Nomad, and the Oxymorons at AIM Regulation are yet to respond to my damning related party expose of Alien Metals (UFO) of last week HERE. While we wait and, as Roland starts the countdown to his elevenses, here are some more questions that he should be asking of his client.

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If a company undertakes a related party deal, its Nomad must approve, it must be declared as such in an RNS and the auditors must flag this up in the annual report and opine, in accordance with International Standards on Auditing 550 Related Parties, that the deal is kosher, that there is no “transfer of assets from or to management or others at amounts significantly above or below market value". AIM dog Alien Metals (UFO) appears to have done at least two massive related party deals, implicating ALL of its three directors and with financier Richard Shemasian, brother of infamous promoter Mick, at the centre of the web and has declared neither. Its shares should be suspended at once until everything is out in the open and investigated.

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With London’s worst Nomad, Mr Roland “fatty” Cornish, on board, you know that everything at Alien Metals (UFO) must be strictly above board. Nothing gets by the eagle eyes of Fatty. Well not before 11.15 AM when he waddles off to start his daily seven course luncheon. So what’s the deal with Alien? It is all to do with wombats, creatures rarely on the menu for Fatty.

NEWSFLOW

NEWSFLOW