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Latest News

Bearcast
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Tom Winnifrith Bearcast: thoughts from my Neighbour's Funeral

It is all laughs here in Wales, a few thoughts as we buried Norman. Then a few thoughts on the sad death of Sara Alhashima and the wretched BBC. Then it is on the laughable delisting of AVZ Minerals, 1757 days after this Boatman dossier. some words on Ariana Resources (AAU), Inspiration Healthcare (IHC) and finally, in detail, numbers from the fraud Supply@ME Capital (SYME). 
ALT
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Altitude – argues “very strong” trading, but what about the bottom-line?

Previously writing on merchandising platform technology group Altitude (ALT), in November with the shares down to 40p I questioned for how long are the “existing needs” for which the remaining loan facility is sufficient and concluded to avoid. The shares most recently closed at 31.5p, but what about they currently up to 36.5p on the back of a trading update?

DNM
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Dianomi – results argue “well placed to drive scale and profitability”, but wasn’t it arguing similarly on 273p per share AIM listing in 2021?!

Previously writing on company describing itself as “a leading provider of native digital advertising services to premium clients in the business, finance and lifestyle sectors” Dianomi (DNM), in September with the shares falling to 47.5p I questioned whether it was “well placed to capitalise on the opportunity ahead”. What about now, with the shares currently at 49p on the back of 2023 calendar year results?

AAU
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Just how many lunatics with a financial death wish own shares in Ariana?

I am contacted by a reader who posits that there are a number of my fellow shareholders in Ariana Resources (AAU) are posting on the ADVFN Bulletin board saying that they will vote against the merger with Rockover. My correspondent gives a number of reasons for these folks posting.
AML
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Aston Martin Lagonda – it is always jam tomorrow, surely still a short, losses running at £17.65 a second

How many times, over the years, has this company gone bust? I lose count. But at some stage surely folks should just say that a business model of selling not enough luxury cars to cover your costs and burning cash like it is going out of style is just bonkers. But I suppose that is how most big soccer clubs operate and when one owner runs out of dirty money another one comes along to shovel is cash into the furnace. Maybe Aston Martin Lagonda (AML) is a brand like Newcastle United and so normal maths do not matter. Today’s quarterlies are grim. Truly grim.
COG
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Cambridge Cognition – “pleased to announce” Results, Trading Update & Board Change. Er, what’s ‘pleasing’?!

Cambridge Cognition (COG) states that it “is pleased to announce its preliminary unaudited results for the year ended 31 December 2023 as well as an update on its outlook and current trading”. So why are the shares down from approaching 95p in September and currently a further more than 5% today at 48.5p?
HZM
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Horizonte announces that its death has been postponed again but the Grim Reaper is still on his way

It is a postponement but not a solution. Horizonte Minerals (HZM) will go bust and shareholders will lose everything it is just a matter of when.
Senior debt providers have kicked the can down the road again regarding non payment of interest first due on 31 December but then pushed back to March 29 and April 30. It has now been pushed back to May 15 to allow for more talks on restructuring this mess at a subsidiary level.
ALGW
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Alpha Growth auditor walking and other problems – another GOTCHA for team Sheriff!

This week Alpha Growth (ALGW), whose antics we have covered in some detail on this website, presented its accounts for the year ended 31 December 2023. GOTCHA!
MAX
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MaxRets Ventures and auditors MAH reported to the Financial reporting Council - this is a slam dunk

MAH is a tinpot accounting firm by revenue and what it is doing signing off on the accounts of Dominic White’s MaxRets Ventures (MAX) defies belief. It has shown zero professional scepticism on a matter that the ICAEW demands that scepticism be applied to. I have written to the FRC as you can see below.
Clown
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A failed fund manager turned blogger writes on base rates

No not me silly, it is the disgraced Neil Woodford, a man who thought that the world of word pallets could be revolutionised if he chucked enough of OPM at it. The great man opines..
Bearcast
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Tom Winnifrith Bearcast: Feck the NHS, a day of my life and that of Jaya wasted at Wrexham Hospital

I describe a day of utter frustration then also comment on Ben's Creek (BEN), Conroy Gold (CGNR), Supply@ME Capital (SYME), where are the results? And on MaxRets Ventures (MAX): who is the auditor for me to report to the FRC? Come on Liam Murray, who are you protecting? Oh and there is a salacious rumour I can't quite stand up. I do hope it's true.
CRPR
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James Cropper – “profitability expected to be slightly ahead of expectations” but omits that expectations were massively lowered in January!

‘Advanced materials and paper & packaging’ company James Cropper (CRPR) has issued a trading update headlined “profitability expected to be slightly ahead of expectations” and also including that it is “confident that the growth prospects of the group, as a whole, remain significant in the coming years”. So what of a currently up to 340p share price still significantly down from 800p early this year?
CLCO
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CloudCoCo – argues “a solid set of results for FY23”. Really?…

Previously writing on group describing itself as “a leading UK provider of managed IT services and communications solutions to private and public sector organisations” CloudCoCo (CLCO), in November with the shares at 0.95p I wrote “year end trading update” attempts to reassure… but just stating “a key priority” doesn’t mean it will be achieved… currently still avoid/sell. It is today stated “we are pleased that we have been able to secure an extension to the loan notes with MXCG. This, together with the publication this morning of a solid set of results for FY23, will give our staff, customers and suppliers confidence over the immediate future of the business”, so what of a current share price response down from 0.75p to below 0.50p?

ESYS
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essensys – interims argue “on track”, but is it really?…

Previously writing on company describing itself as a “leading global provider of software and technology to the flexible workspace industry” essensys (ESYS), in January with the shares at 36.5p I concluded including that I suggest the balance sheet position at the company’s half year will be very interesting and, with also adjusted EBITDA being manipulated bullshit earnings, question for long is the “foreseeable future” of the stated “sufficient capital”. The shares most recently closed at 18.25p and what of them currently down to 13.5p on the back of now the results announcement for the company’s half-year ended 31st January 2024?

MAX
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BREAKING: Max Rets Ventures and those "intent" to support, you could not make this Dominic White shit up!

What on earth is my pal Liam Murray at advisor Cairn Financial smoking now? Is there anything that he will not sign off on? Today we have a classic from Dominic White’s Max Rets Ventures (MAX) which will see me reporting the company’s auditors to the Financial Reporting Council.
CARR
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Carr's Group – a continuing performance and M&A activity Buy?

Agriculture and Engineering group Carr’s (CARR) recently announced results for its half-year ended 29th February 2024 and we consider that they suggest attractive upside potential from a 133p offer price for the shares, £125.5 million market capitalisation. Here’s why…
VCP
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Victoria and the share buyback – kicking a man when he is down

Shares in the financial engineering carpets roll-up Victoria (VCP) were north of £5 the last time the board said that they were monstrously undervalued and started a major buyback. Wind forward to later last year and the same message came out with the shares south of £3. Now, with millions spaffed on buying “cheap” shares, they now trade at near multi-year lows below 200p.
CGNR
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Conroy Gold And Natural Resources – Uh-Oh! The Swanny kiss of death strikes again

At 3.46pm yesterday afternoon – more-or-less no-one-is-watching o’clock – AIM-listed Conroy Gold and Natural Resources (CGNR) released an “Update on Joint Venture” RNS. Hmm….an intra-day release, never a good sign – and the news was bad.
SYME
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The Supply@ME Capital fraud – a former banker explains yesterday’s spoof RNS and where is the Annual Report?

Yesterday’s RNS from the fraud Supply@ME Capital (SYME) was, as I suggested in bearcast, a spoof. But I haven’t worked in a lending bank since the black and white era. A more recent banker has written in the comments section why the RNS is a spoof and I republish his comment below as it merits a wider audience. Meanwhile, the annual report is due today. Where is it? Good news travels fast, bad news is always slow to come…
ITX
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Itaconix – “delighted to announce the launch of two new ingredients”, but how delightful for investors?

Previously writing on company describing itself as “a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products” Itaconix (ITX), early this month with the shares falling below 200p I concluded including now how’s its ‘has the funds needed to achieve our profitability goal’ statement after also it previously having stated intended “move to being cash generative by 2020”!. So what about today the shares currently up more than 4.5% on a “Launch of two plant-based performance ingredients” announcement?

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Oracle Power: Cynical Foul

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