On June 27 Eurasia Mining (EUA) warned that it could not get its annual report out by June 30th and thus that its shares would be suspended as of July 1. As I explained HERE, its excuses did not wash. But Eurasia did promise that the report would be out within 4 weeks.
In the UK there are constant calls for new laws to deal with stockmarket criminals, more money for the grossly overpaid woke morons at the FCA to deal with white collar crime. All that is needed is to use existing laws to deal with crime, prosecute a few folks pour encourager les autres and the problems might start to go away. In Australia, the Land of Lenigas and McIllree, they know what to do. The Sydney Morning Herald reports today “Four face jail time over ‘pump and dump’ scam on messaging app.” Does this ring any UK bells?
This is good news from Skinbiotherapeutics (SBTX): there will be no more death spiral selling as the last £480,000 of the facility arrange by fraud enabler Charles Ofori has been converted into shares placed with one existing and several new investors. But…
As corporate broker to Optibiotix (OPTI) Peterhouse will get a direct steer on what it can or cannot say. Late last week it sent an email to selected clients with no forecasts but an overview which is of note. The underlines towards the end are from me and are why I think that the shares, now 28p, could well treble by Christmas. Peterhouse writes:
For weeks I have been asking Versarien (VRS) whether the Neill Ricketts industrial tribunal was due to take place today as planned but big girl’s blouse Chris Leigh has declined to answer. Today there is an RNS.
The AIM market statistics for month of June show 1 new admission and 5 cancellations taking the market down to 718 companies a level not seen for 21 years. Every month of 2024 to date has shown a net reduction and reduction in the year to date is a net 35 companies. Two of the departures this month were Ben’s Creek (BEN) and Horizonte Minerals (HZM), the subject of numerous Shareprophets warnings demonstrating that it can take time for the market to realise what I often foresee months or years ahead of their eventual demise.
Having seen its shares slide to c40p, Avacta (AVCT) bulls were cheering last week as the stock topped 80p. Brown envelope man said it was certain to race higher and the bulls cheered. “burn shorters burn” they cried. Today the shares are 66p and falling so what has changed other than the share price?
Quite simply, Sir Nigel warns that Destiny Pharma (DEST) will go bust if it stays on AIM. If it delists he reckons it might survive. This is no penny dreadful. Destiny is a properly managed company and Rudd is a well-respected BSD so these words will hurt.