As at May 30 Verditek (VDTK) was down to just £290,000 of cash. Its underlying cashburn in the first five months of 2023 was £145,000 a month. There have been a few small orders landing in H2 but nowhere near enough to get this company anywhere close to profitability. So as of today it is technically insolvent, bust, bankrupt, a fuckedcompany.com, it is a zero. As such today it has news of a new jv in Italy.
The maths on this share tip from disgraced Mike Walters of the frauds Minmet, Polly Peck, 3DM, and the list goes on and on, infamy are clear. Verditek (VDTK) is – as of today running on vapours and unless it can get a bucket shop – deeply discounted – placing away, the shares should be suspended pending clarification. To recap for chairman, Tory Toff, Lord Willetts.
You have to look long and hard to find the “material uncertainty” warning and most of the morons suckered into this stock by disgraced share Tipster Mike Walters of 3DM, Polly Peck, Minmet, etc, etc infamy and by the lies and bogus contracts announced by the company are too damn stupid to look. If the do the warning is utterly misleading. Verditek (VDTK) faces another imminent cash crisis and could go bust before the start of August.
I have written to both AIM Regulation and the FCA asking them to explain why Verditek (VDTK), the solar panels company chaired by Tory toff Lord David Willetts, has not – again- committed fraud. Surely there must be consequences or do the regulators think that crime should pay?
At what point is AIM Regulation going to say that enough is enough and kick Verditek (VDTK) into touch for what appears like serial securities fraud? Or do the Oxymorons at AIM Regulation consider that announcing contracts every single year since the 2017 IPO, contracts which eventually come to nowt but allow a share price pump and bailout placing, to be acceptable? Today we have another case study of the Verditek contract fraud.
Each January, AIM-listed Verditek (VDTK) - chaired by Tory toff, Lord David Willetts - would issue a trading statement, covering the calendar year. It was never anything to write home about, as, despite announcing huge orders ahead of a discounted placing, none would turn into actual er….orders. So, this was typically a January confessional. But in 2022, there was no trading statement.
It is only two weeks since Crowd For Angels, the world’s worst crowdfunding firm, closed its failed attempt to raise £500,000 for the serial liars at Verditek (VDTK) and now we get interims which tell you that, by Christmas, those fools lured by Richard “Gollum” Gill’s grotesquely misleading financial promotions into backing the bond will be at risk. These numbers are a disaster for the company led by Tory toff Lord Willetts. Insolvency beckons.
Will Richard Gill, aka Gollum, the AIM Shit of the year 2012-2020, update the Crowd For Angels green ponzi bond prospectus to reflect the lies exposed by today’s full year results from Verditek (VDTK)? I doubt it. Remember that in the run-up to an October 2020 £3.5 million fund raise, this company announced EIGHT sales contracts.
As I have noted many times, following the “disappearance” of the eight contracts Verditek (VDTK) used to ramp the shares ahead of its last bailout placing, it is a company without revenue and now, once again, almost out of cash. And this it seems that equity investors have had enough and so the company has resorted to even dimmer and more credulous punters from the crowdfunding community. I have no idea what Tory Toff Lord Willetts is smoking other than a last cigar marked desperation but this makes no sense.
I have communicated with Britain’s finest regulators, no sniggering at the back please, a number of times on the matter of AIM bad boy Verditek (VDTK), the company run by Tory Toff Lord Willetts which is heading rapidly for insolvency. I have written again on the matter of its market abuse, deceiving investors to pump the shares ahead of bailout placings. The letter is below:
As his loyal butler presents a plate of a fresh kipper, rushed by the overnight train from Arbroath, in front of Tory Toff David Willetts this morning, his Lordship must be pondering seriously whether Verditek (VDTK), the company he chairs, is, itself, at serious risk of becoming a dead herring. The company has survived since its 2017 IPO by generating not a cent of revenue but by announcing numerous contracts to ramp the shares ahead of bailout placings only to admit later that the contracts have come to nowt. But what now?
Oh dear, oh dear, oh dear. That used to be the catchphrase of disgraced penny share tipster Mike Walters of Minmet, 3DM, Polly Peck, Pursuit Dynamics, etc, etc infamy. I wonder if he will be using it today as the Verditek (VDTK) dog he has promoted so aggressively has coughed up to another lack of sales warning. It means that a bailout discount placing is inevitable within the next couple of months but natch the company, chaired by Tory Toff Lord Willetts, polishes the turd.
Yesterday, Verditek (VDTK) finally ‘fessed that its 2020 revenues would be almost nothing. That is despite it announcing on June 30 that its Italian operation was now “in production and is generating revenue” and the announcement of no less than EIGHT separate orders from 30 June onwards. All of those “orders” were announced before a bailout placing on October 6. And it is not as if this company, chaired by Tory Toff Lord Willetts, has not got extensive form in announcing big orders before placings which then turn out to be bogus. The Oxymorons at AIM Regulation could have stopped this if they had heeded my calls in a letter to them about a full enquiry into past pre-placing deceits going back right to the IPO but they did nothing. There now needs to be a full enquiry into the company and into Nomad WH Ireland with public censures resulting. My letter is below:
For those who do not understand the cultural idiom, younger listeners, the reference video is below. I inject a bit of class warfar to keep working class hero and Euro loon Jonathan Price happy. In today’s show I discuss Marechale (MAC) the latest Chris Akers spoof, Verditek (VDTK), Nightcap (NGHT) and Bluebird Merchant Ventures (BMV)
Obviously the big news today is on lavender. But I move swifty on to discuss the failings of the Standard List as exposed by Supply@ME Capital (SYME) in today’s shocker. Then I look at Xtract (XTR) where I confuse Panettone with Panna Cotta but flag up what is going on. Then it is Iofina (IOF), Online Blockchain (OBC) and finally Verditek (VDTK) where Tory Toff Lord Willetts needs to follow my lead and come clean ASAP.
Verditek (VDTK), a company with negative net current assets and which is burning cash so is technically insolvent, has today announced the publication of a research report. Natch, the pathological liars at Verditek deceive investors even with this pathetic attempt to ramp the shares ahead of a placing.