I wrote to AIM Regulation yesterday and it is clear that it has acted forcing the rogues at Bidstack (BIDS) to come clean about the “Private” bust up with Azerion email sent to some clients of Nomad Stifel yesterday, an email, that thanks to Winnileaks, I published in full within hours of it being sent. And the regulators have forced hapless Lyin’ James Draper to roll back on claims in that email.

Yet again Bidstack (BIDS) has leaked clearly price sensitive information into the market to only certain folks, that is to say, selected clients of its Nomad and broker Stifel, rather than via RNS as I exposed earlier HERE.  But this is not the first such sin by Bidstack which it has committed in collusion with Stifel.

This is shocking. What is clearly adverse information is being withheld from the market but is being sent to selected investors by Lyin’ James Draper the CEO of Bidstack (BIDS).  None of what is in the email below, received via the Winnileaks service today, is referenced in yesterday’s trading update. This is shocking. Surely even the Oxymorons at AIM Regulation should force a statement?

Lunatics such as the low grade Ulster share spiv Nigel Hassard insisted that Bidstack (BIDS) did not need a fund raise even as its own broker slashed forecasts and warned that the company would be down to just £34,000 cash at December 31 this year.  The loons said that I was just scaremongering.  Of course, Bidstack did not tell ordinary investors about that Stifel red alert, instead, the very same day issuing a ramptastic statement about a $100 million market opportunity. I’d like to talk about an opportunity – also not grounded in any hard actual events – that I have with Cheryl Cole.

I start with a sort of Lucian Miers-style checklist for short candidates. How many boxes does Bidstack (BIDS) tick?

I have just written to AIM Regulation as Bidstack (BIDS) , lead by Lyin' James Draper, has today grossly deceived and mislead investors as to the collapse in trading.  The company has breached AIM Rules 10 and 11 and it, and its Nomad Stifel, need a public censure. The letter follows:

The idea of announcing a death spiral - while pretending it is not a death spiral - at the same time as a bailout placing, is odd. Who would want to buy into a placing, when you know that, at some point, a blizzard of confetti will be dumped?

Back in March 2019, cyber-security play-cum-jam-tomorrow producer, Falanx (FLX), sacked its Nomad (Spark Advisory) and “upgraded” to Stifel. Three years later, there is a new change. It all makes no sense.

Yesterday, I suggested why Stifel pulled the second IPO, and accounted for the shock resignation of CEO Adrian Griffiths – just days before the IPO D-day.  An expert investor has written to me with his analysis: he thinks I was on the right lines concerning the bankruptcy of Pure Global Limited – where Griffiths was on the board. He adds, however, far more detail, suggesting the predicament Stifel may have faced, hence its resignation.

Yesterday I revealed that the proposed AIM IPO and £30 million plus a Primary Bid fund raise of Recycling Technologies had been pulled – today we learn that just days before D day the CEO, Adrian Griffiths is to walk. Curiouser and curiouser.

Oh dear, oh, dear. To have your IPO pulled once is understandable, but twice seems like carelessness. Perhaps Nomad Stifel might care to scotch certain rumours doing the rounds.

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…

Darktrace (DARK) floated on May 4 at 250p. Great play was made in the lengthy prospectus of how stacks of existing shareholders were locked in, legally bound to hold their shares for 6 or 12 months. Except this is all meaningless gibberish.

Shares in Bidstack (BIDS) have slumped to just 2.95p today. There are two reasons for that but mad Jew-hating loons on the Bulletin Boards think there is a third. Of course, blame the wicked Jews for everything. Just why does this company attract such total lunatics? Do you remember cross-dressing IT freak Mike Turner from Northants? 

The staff at Bidstack (BIDS) should get paid next week, assuming that their employer can delay paying other bills. But it is unlikely to be able to meet next month’s payroll so calamitous has been the shortfall in trading vs expectations. Unless Nomad and Broker Stifel can get away a rescue placing within weeks, Bidstack staff should be brushing off their CVs as a matter of urgency. I have written to AIM Regulation as a statement is needed asap.

Lyin’ James Draper, the CEO of almost insolvent Bidstack (BIDS), is a proven liar. We knew that already but here is another monstrous £10 million quid deceit from December 2019 for you to consider. How Nomad Stifel signed off on this is baffling. You might almost think Stifel was morally bankrupt!

This is my second letter this month to the Oxymorons at AIM Regulation about Bidstack (BIDS) where some investors have been made aware that trading is way behind budget but others live in blissful ignorance. I demonstrated earlier that Bidstack is now within days of going bust unless it undertakes a bailout placing so AIM Regulation MUST force it to come clean. The letter reads:

Surely, before undertaking a bailout-discounted placing with bucket shops, a company has to come clean and admit that trading is way below what had been forecast? Those are the AIM Rules but Lyin’ James Draper and Bidstack (BIDS) do not give a rat’s arse about rules and neither, it seems, do the Oxymorons at AIM Regulation. On 22 April, house broker & Nomad Stifel slashed its 2021 and 2022 sales forecasts and upped its forecast losses for Bidstack but the company is yet to admit that trading has fallen off a cliff. But today with cash down to almost nothing and staring down the barrel of insolvency, surely it must be made to ‘fess up?  Here are the maths:

Three sorts of investors know that trading at Bidstack (BIDS) is far worse than the company had hoped for and that it now faces a gargantuan cash crisis putting its very survival in doubt: clients of Stifel, those who can afford a Bloomberg terminal and readers of this website. Thanks to the company ignoring AIM Rules 10 & 11, most investors are seeing their savings die of ignorance. I have again written to the Oxymorons at AIM Regulation urging them to force an immediate statement.

Needless to say, the morally bankrupt PR firm of Buchanan has still not replied to an email from Tuesday night regarding forecasts for its technically insolvent client Bidstack (BIDS). Presumably it is working hard finding a journalist to smear and that is its priority. When Steph Watson says she will reply to an email, what she clearly means is “I am a lying PR harpy and will do nothing of the sort.” But, without the assistance of mendacious Steph, I now have confirmation that house broker Stifel has indeed slashed forecasts which appears to be a clear breach of AIM Rules 10 and 11.

Earlier today, I reported on market speculation that Stifel, the house broker to Bidstack (BIDS), had slashed its sales forecasts and materially increased its loss forecasts for Bidstack (BIDS). This cannot have happened without a company chat so why has there been no official lack of sales/increased loss warning. Is CEO Lying James Draper again in breach of AIM Rules? I have written to the Oxymorons at  AIM Regulation, as you can see below

If there is a material change in your trading outlook, as an AIM Company you have a duty to inform the market at once, as per AIM Rules 10 and 11. But if you are Lyin’ James Draper of Bidstack (BIDS) you do not give a flying fuck about the rules. So has he issued a horrible lack of sales/increased losses warning by simply speaking to the analyst at house broker Stifel who slashes forecasts? Is it the case that as of Friday clients of Stifel heard the bad news, other morons who owned the stock did not. And the news, is rumoured to be dire. Cretinous low grade PR firm Buchanan, employers of the journalist smearing fraudsters PR of choice Henry Harrison-Topham, are failing to answer emails or calls on this matter but should get off its fat collective arse and issue an RNS or at least say this is not true if it is not true.

Following its shocking lack of 2020 AND 2021 profits and disappearing cash warning on February 1, Bidstack (BIDS) is close to running on vapours with net current assets set to go negative by the end of May and cash set to run out before then. Oh dear. What to do? Ramp the shares ahead of a discounted placing from the Nomad and broker which signed off on the grossly misleading pre-Christmas trading statement, Stifel.

The first of a number of triumphs today for the Sheriff of AIM is AIM bad boy Bidstack (BIDS). After repeated pressure from this website it has, finally, admitted that its pre-Christmas trading statement was a deceit and, better still, has issued a shock warning about 2021. Oh dear, its moronic followers, including Mike Turner, that cross-dressing IT freak from Northants, will be cacking themselves as a cash crisis looms. Let’s start with the false market created on 17 December with the misleading RNS signed off by shameless Nomad Stifel.

Bidstack (BIDS) managed to ramp its shares up to 13p the other day thanks to the follow on from a trading statement which was long on ramp but short on critical detail. That AIM Regulation allowed a company with a history of deceiving investors to issue such bollocks is another mark of infamy on its already soiled record. After the pump, you know what comes next and it looks to be underway.

Sales are vanity. Profit is a matter of opinion. Cash is reality. But if you are trying to ramp your shares ahead of a bailout placing you do not want to talk about cash ( or rather lack of it) or even profits (or rather losses) so you just bang on about sales. That brings us to Bidstack (BIDS).

As at June 30, thanks to a grubby fund raise organised by Nomad and broker Stifel, Bidstack (BIDS) sat on £5.9 million of cash and bet current assets were only a tad lower. But as we approach Advent and the year end, that position has got much worse. When, I wonder, is the warning and official admission of that?

Shares in Bidstack (BIDS) are the biggest risers on the AIM Casino today, up 25% at 6.3p thanks to news that it has an exclusive contract to deliver native in-game advertising for Hyper Scape – a futuristic, free-to-play, urban battle royale game that was officially launched by Ubisoft on 11 August 2020.

Up in the high woods of Montana, just below the snow line, today’s listing of AEX Gold (AEXG) will surely cause stirrings of unrest for our in house gold loon Nigel Somerville. Or maybe a grizzly has eaten the wires to Nigel’s satellite dish and he is blissfully unaware of today’s events.

Having flogged £300,000 of shares at 20p last October 9 while sitting on a lack of sales and profits warning) Lyin’ James Draper, the CEO of Bidstack (BIDS) put not a cent into today’s £5.7 million bailout at just 4p. That tells you everything. Perhaps he is saving his cash for the next bailout due around Christmas?

Bidstack (BIDS) a company that is on the brink of insolvency with almost no cash has today issued an AGM statement that is so thoroughly deceptive in failing to explain the crisis the company faces that its Nomad Mark "the poltroon" Brady at SPARK should be censored for signing off on it.

I first warned on shares in Tissue Regenix (TRX) in October as they fell below 3p and most recently above 1p earlier this month, noting still a required fundraising ahoy. Today an announcement; “Confirmation of successful fundraising”...

Despite incteasingly desperate attempts to ramp its share price, AIM dog Bidstack (BIDS)  sees its stock marooned at 6p. Interestingly, the spread is wide enough to drive a bus through, indicating market makers are aware that either one last ramp but also that a deeply discounted bailout placing may be imminent. But the bare fact is that the company cannot both meet May payroll and satisfy short term liabilities. As such, its shares should surely be suspended pending clarification of its financial position. I have written to the Oxymorons at AIM Regulation today making this request.

The key phrase in today’s research report on Bidstack (BIDS) from broker Stifel is “Stifel does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.” Put another way, Bidstack runs out of cash in a few weeks, needs to get a bailout placing away with Stifel which will earn 5% commission on that. The report is truly dire.

Thanks to the Winnileaks service I have in my possession the presentation Reabold Resources (RBD) is serving up as it endeavours to raise up to £30 million. I gather it is tough going. The deal will come as a shock to joint brokers Turner Pope and Whitman Howard as it is Stifel Europe that is acting as broker. The presentation says the deal will be announced October 8. Ho Ho.

An AGM statement from Yourgene Health (YGEN) includes that it “is delivering rapid growth in line with our expectations” and “confident of the growth strategy we have set ourselves to deliver enhanced shareholder value”…

Diversified Gas & Oil (DGOC), the largest oil company on AIM and an enterprise whose accounts are being scrutinised by the FRC for a wholesale breach of IFRS guidelines, has announced it plans to move from the Casino to the Premium segment of the Main Market of the London Stock Exchange in Q1 2020. Both Avanti (AVN) and Quindell (QPP) made similar promises to try to keep their shares afloat. Neither actually made it off AIM as promised although, several years later, an almost bankrupt Avanti will be delisting altogether.

Updating on Yourgene Health (YGEN) earlier this summer we noted Adam Reynolds buys 900,000 shares at 11p. A “Directorate Change” announcement now sees him emphasising an appointment bringing “experience in commercialisation strategy, M&A and business development within the industry majors, as well as his extensive US contact base”…

Tom writes: The bottom line is that I shall be selling the FIML shares but am giving you at least 24 hours notice. This is NOT a financial call but an ethical call, as I explain, and Steve Moore, who will cover Yourgene going forward, explains why he is not selling his shares on the results and where he sees them going...

Finally the research powerhouse that is Stifel has initiated its coverage of its corporate client Yourgene (YGEN) with a detailed note which is below. A senior officer at Yourgene supplied the note to me. In the past on every occassion this has happened. On this occassion Stifel has demanded that I withdraw the note and pay it £750 or it will throw the book at me. I have taken the note down. If it wants the £750 it can ask Yourgene directly. What is the point, I wonder, of hiring a big name broker to produce research and then trying to reduce the number of folks who read that research? Whatever.

Reynolds now owns 6.35 million shares in Yourgene (YGEN), 1.1% of the equity and though not a dominant portion of his net assets, still a material amount. So why did he buy? I chatted it through with him and his simple answer is “because the shares are cheap and I could.”

As I noted in my earlier bonus bearcast, Diversified Gas & Oil (DGOC) or its agents at Cenkos, Stifel and Mirabaud are almost certainly briefing the dumb fucker insitutions who own this stock that I do not understand IFRS 3 and so my claim that its accounts grotesquely overstate "profits" and must all be restated are hogwash. Au contraire...I now refer you to PWC.

I take my hat off to a chap who has created the blog Oarfish Research for he is a truly talented individual who has produced some spectacular research on £878 million capitalised ( at 126p) AIM listed Diversified Gas & Oil (DGOC).  Reading Mr Oarfish’s truly spectacular analysis I can only conclude that this company is monumentally overvalued. It could be the most overvalued stock on AIM.

I have known for a while that Yourgene (YGEN) was to upgrade its broker from FinnCrap to Stifel. It is a big upgrade. But I was told that FinnCap would be kept on as joint broker for three months during part of which Stifel is in a research blackout period. Something happened last Wednesday and FinnCap was fired with immediate effect. I shall endeavour to establish what it was but maybe it was just that FinnCrap’s last research note was so bad that it was felt that no research for 40 days was better than another note from the same shite analyst. Perhaps FinnCap did something worse. I am digging. What you, my fellow shareholders want to know about is the placing and acquisition.

This is good news. Falanx (FLX) has made it clear that it does not need to place again to execute its business plan and to get itself into material profitability. We would hope for a formal trading statement within the next month or so very much confirming this and an improvement in profitability.

I see that smarmy lefty millionaire comedian Bob Mortimer is boasting in today's Sunday Telegraph about how he bought IQE (IQE) as a penny stock and it is now 163p. Methinks not Bob. I warmed folks to sell at 138.5p in a detailed dossier published in October HERE. Matt Earl's 36 page note of Friday has really set the cat among the pigeons. The shares are 104p but will - I suspect - tank on Monday.

As I had suggested might happen several times, Nomad Stifel has resigned the Fusionex (FXI) account. It could not wait for the AIM delisting on the 26th. Instead it gave notice after hours yesterday that it was quitting as Nomad and Broker with effect from 5PM today. Hooray.Game over.

At 5.30 PM on the Friday before the bank holiday, no-one is watching O'Clock, Fusionex (FXI) said that it was to delist from AIM. The shares closed the day off 2p at 129p but will absolutely crater Tuesday as this stinks as we have warned you so many times - as you can see HERE. Once again we are vindicated and the City pump & promote machine must hang its head in shame.

A “Restructuring and New Investment” announcement from Rex Bionics (RXB) sees Chief Executive Crispin Simon “delighted that the alternative options we have been pursuing have borne fruit” and Chairman David Macfarlane “warmly thank our shareholders, who have made this possible. I would also like to take this opportunity to thank our nominated adviser, Stifel, for its unstinting support over the past three years”. Sounds a good outcome then, strange though as I previously noted the company approaching a transaction from the perspective of going-concern desperation. Hmmm…

We tipped Amryt Pharma (AMYT) pre-consolidation at an effective 18.4p earlier this year and until last week it all went quiet. Now it has roared into life and the shares are 18.5p-20.5p. So what happened? And what next?

I am a loyal shareholder and think that shares in Amryt (AMYT) are cheap and a deal today really does look like very good news indeed. But the buy note from broker Stifel has me a bit confused. Let me explain.

Amryt Pharma (AMYT) has announced that it has secured a €20m debt facility from the European Investment Bank on, what broker Stifel says, are very attractive commercial terms. Stifel says that the facility will not only extend the company's funding until well into 2019, but also provide funding for development of acromegaly product AP102 and potential launch funding for Episalvan in partial thickness wounds. Stifel concludes that the shares are a buy at 14p with a price target of 49p. Yes indeed. Since we own the shares I thought we'd share the note with you.