Another day and it's another placing from Lyin’ Steve Sanderson at UK Oil & Gas (UKOG). As ever there is always a good reason. And as ever it is a hugely discounted bucket shop offering. Already the shares have slumped back to below 0.025p, the price at which £500,000 has been raised. There is a retail offer at the same price. Financial masochists know where to apply.
If AIM was not such a joke then James Short, the CEO of Celadon Pharmaceuticals (CEL) would have been fired months ago for his tardy disclosure that sums owed from a May loan and equity investment agreement did not arrive on schedule. And they have still not arrived leaving the company in crisis, as it ‘fessed up to today.
The bulletin board morons knew better than old TW. Andrew Monk knew far better than old TW as he always does as Andrew is always right and old TW is just a failed fund manager who works in a pizza shop. But it seems that maybe old TW was not wrong in warning folks time and time again that Bushveld Minerals (BMN) was a scandalous penny share promote that would end in tears. Its shares were 40p seven years ago. Today they are suspended at 0.6p, still a market cap of £7 million.
The loss at AIM listed Craven House (CRV) for the year ended May 31 was $893,000 comprising administrative expenses of $197,000 and $621,000 of negative changes in fair value. Net liabilities on the balance sheet increased from $384,000 to $1,277,000. Net current liabilities were $210,000. The key issue for the company is going concern.
It is hardly the surprise of the year but it seems that right now Tekcapital (TEK) is unable to dump shares in any of the dogs it has floated like Belluscura (BELL) or MicroSalt (SALT) and hence it has itself had to issue more shares, raising £1 million at just 7.5p. The deep discount is not the real shocker.
Optibiotix (OPTI) CEO Steve O’Hara was admitted to hospital with pneumonia on or around 26 September. Pretty soon he was having heart surgery. I revealed all this and eventually Optibiotix, now being run by chairman Neil Davidson issued comment on 23 October. I cannot see how what it said was not a lie.
“The Right Honourable Tony Baldry has agreed to become our chairman.” Only kidding. For reasons all to self-evident (greed, incompetence, a willingness to bat for fraudsters), few companies commit the corporate hara kiri of appointing Sir tony of 3DM infamy. So those dreaded words are “strategic review” and with its shares, at 1.85p now almost 90% down since the wretched Baldry became chairman, Westminster has commented on its own review.
The Wyld right issue shares have now been admitted to the market and Wyld now has 496,954,449 million shares in issue which gives it a market capitalisation of SEK 49,148,795 or £3,519,668.
I shall cover the full year numbers from Westminster Group (WSG) in bearcast later but suffice to say that the curse of disgraced former Tory MP Sir Tony Baldry of the fraud 3DM infamy has struck again and they are shite. The wording also shows slippery Tone at his worst.