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Even a few of our detractors have now come around
Argo Blockchain (ARB) is a company that I wrote about several times a couple of years back, but more recently have left to Tom Winnifrith to write about the numerous red flags that he has spotted there.
Last time Argo Blockchain (ARB) passed the hat around, its disgraced CEO, Peter Wall, claimed that it had no need to issue equity. I put it to you that – as I revealed on Saturday – Argo is preparing to do just that; otherwise, Wall will be treated to another of the Fat Lady's performances. Moreover...
A smattering of insignificant share purchases was announced today, together with news that big cheese, Peter Wall, has exercised options over 430,000 Ordinary Shares. The ensuing statement again shows what a dick he is, and why he is playing us all as fools.
The writing is on the wall for Cellular Goods (CBX), the CBD company floated by Jonathan Bixby, Mike Edwards, Andy Frangos, Peter Wall of Argo Blockchain (ARB) infamy, and serial liar, John Story.
In today's podcast, I discuss the FTSE 100 sliding; bitcoin's crash; Coinbase; Online Blockchain (OBC); Argo Blockchain (ARB) and 3 questions Peter Wall MUST answer; Cellular Goods (CBX), where Wall today stepped down as chair (odd timing); Verditek (VDTK); the shame of Innovate UK and ex-footballer and NFT spiv, Michael Owen; Petropavlovsk (POG); and Versarien (VRS), where a cash crisis looms. Now, to brace myself: the mother-in-law will arrive at her new home in just a few hours.
I discuss today's minor triumph regarding the rule-breaking Tory Toff, Earl of Shrewsbury, and if inflation is not hitting some of us. I look at Vast Resources (VAST); Avacta (AVCT); in much more detail, Amur Minerals (AMC); and finally, Argo Blockchain (ARB). There was no Rogue Bloggers for Woodlarks training walk yesterday, as I was aching so much from 10 hours gardening on Saturday. Instead, I did another eight hours gardening, here at the Welsh Hovel. I will post some photos later. Please enjoy my suffering, but do not remain amongst the 97% of listeners yet to donate. Please donate - if only a fiver or a tenner - today, HERE.
Of course CEO Peter Wall (who dumped shares at 243p a year ago AFTER starting sounding out folks about a 200p per share placing) insists that this debt is not dilutive. Really?
This has been the most stressful day in Greece for a long while; I really do need a holiday. I explain all. Then I look at Sensyne (SENS); Chill Brands (FRAUD); Blue Star Capital (BLU) and an AGM shock that may trigger the collapse of the Bixby, Edwards, Frangos, Story and Peter Wall house of cards. Then it is onto Canadian Overseas Petroleum (COPL), where today's placing vindicates me. I argue that a 20.75p share price is a compelling shorting opportunity on a risk-reward basis. Matthew and his dog will enjoy that section, as Arthur Millholland, the snake oil salesman at Canadian, really is talking shite in today's release. I am so angry.
As I noted recently, David Beckham-backed pot play, Cellular Goods (CBX), faces a cash crisis later this year. This bastard offspring of the Edwards/Bixby/disgraced broker Andy Frangos/ John Storey/Peter Wall gang, has always been overhyped and overvalued. But now, it really is screwed, as the Food Standards Agency has ordered that retailers remove its product from their shelves with immediate effect.
I start with football and a question from last night’s West Ham game, concerning how society now views crime and criminals. Then onto the lessons from the collapse of Sensyne (SENS), the bastard child of Neil Woodford and sleazy Lord Drayson. Finally, I look at: Canadian Overseas Petroleum (COPL); Bidstack (BIDS); Angus Energy (ANGS); Sound Oil (SOU); the odd case of NFT Investments (NFT); and the Bixby/Edwards/ Frangos/Storey/Peter Wall gang.
Reader A alerts me to another player in the nest of related Andy Frangos party snakes: AIM-listed Blue Star Capital (BLU), a grossly overvalued investment company with a curious definition of profit, no cash at all and a barking-mad valuation. What’s not to like?
On January 7 this year I warned you that Cellular Goods (CBX),was making it up as it went along to hide the failure of the launch of its CBD products. Hey ho. Today it has fessed that, as is so often the case, I was bang on the money. And better still, 360 days after the IPO, founder and CEO Alexis Abraham is walking the plank. Things will only get worse for a company chaired by Peter Wall of Argo Blockchain (ARB) infamy.
The incestous joke that is Aquis listed NFT Investments (NFT) took another turn today with a related party deal with Pluto Digital, featuring a cast of scampsters including John Story, Andy Frangos, founder of disgraced broker Pello, serial promoter Jonathan Bixby and his brother in law, Peter Wall of Argo Blockchain (ARB). Did you not know that Bixby and Wall were related by marriage? Small world innit?
I am rather taken with the new cleaning lady the Mrs has hired. She scrubs up well, works hard and her views on a range of issues including masks, vaccines, inflation and the role of the state are thoroughly admirable. And hearing myself and Lucian discuss how mining companies claim to be ESG friendly by hiring loads of lesbians, she thought that a good joke and remarked that my work seemed interesting. That would not be how the Mrs would react, both to the joke and the description of my work. I mention all of this only because Agnieszka has been arguing with her 12 year old son who wants her to invest her wages in bitcoin.
What were the actual net proceeds of the $40 million 8.75% bond issued by Argo Blockchain (ARB)? And why does the shareholder register stink? Let us start with the bond.
Yes, you read that correctly, the US ADR placing of Argo Blockchain (ARB) involved ELEVEN different brokers. Jefferies, Barclays, Canaccord Genuity, Stifel, GMP, Compass Point, D.A. Davidson & Co, Ladenburg Thalmann, Roth Capital Partners, finnCap and Tennyson Securities are the team batting for Argo and will no doubt boast that they raised £82.4 million having targeted just £75 million. But…
I have been a critic of Argo Blockchain (ARB) for an awfully long time. It is run by sharp promoters and backed by some nasty spivs. And it seems to me that it has failed woefully to address the issues flagged up a few weeks ago in the recent Boatman bear dossier HERE.
The proper way to respond to the Boatman dossier was via RNS but that needs regulatory sign off so the fellow who dumped millions of dollars worth of shares at 243p just a couple of weeks before Argo Blockchain (ARB) did a major placing at 200p recorded a video which you can see below. He covers the “report” but does not name it just in case folks actually are encouraged to go read it. It is a poor rebuttal.
Last night, Argo Blockchain (ARB) announced a bookbuild and Primary Bid offer to raise £26.8 million at 200p. It was hugely oversubscribed. This sector is hot and both retail and institutional investors could not get enough. Good luck to them all.
The most read non-Tom article this week is Update on my share tips of the year 2021 by Steve Moore at number three, or number 10 including Bearcasts and Tom’s new shareshow. Which one is the best of the week? Tell me in the comments.
Some folks have all the luck.
