Previously writing on company which describes itself as “an award-winning digital publisher and developer of indie video games” Devolver Digital (DEVO), in April with the shares falling below 30p I concluded an AIM IPO Roll-Call of Shame from the 2021 listing remained justified and as did a stance of bargepole/sell. With the shares having most recently closed at 19.5p, what of a latest trading update?

TinyBuild (TBLD) has issued a trading and directorate change announcement ahead of its AGM. What’s the news from a company which describes itself as “a premium video games publisher and developer with global operations” and was an AIM Awards 2021 “Best Newcomer” nominee?

Previously writing on windows and doors retailer and manufacturer Safestyle UK (SFE), in September as the shares fell to 21.5p I concluded that ‘its high household energy costs environment confidence for its products is versus the consumer spending pressures and “consumer confidence levels at a 40-year low”. As such, I remain highly cautious here at this juncture and continue to avoid’. The shares last closed at above 30p but are currently falling back below 25p following a “trading update”.

Managed IT services, cyber security and cloud hosting company SysGroup (SYS) has announced results for its half-year ended 30^th September 2022 and that “trading for the second half has continued with positive momentum and the board is therefore confident in meeting its full year expectations”. So what’s the detail here?

Well I guess it is not quite so funny if you are a shareholder but this acquisition – now – rreversed – has destroyed Ince Group (INCE) as a credible investment. I was urged by the company’s PR to tip the stock but, according to some folks, that really would have been a kiss of death and anyhow it was self-destroying – as I predicted – without my endorsement. 

SysGroup (SYS) recently issued a trading update stating that it “is pleased to report a strong trading performance, despite the challenging macro-economic environment”. With the shares having fallen from approaching 50p last year to a 24p offer price, such a trading performance suggests a lowly valuation and strong recovery potential.

UK floor coverings distribution group Likewise (LIKE) commences a trading update with that it “is pleased that its ongoing investment in sales representatives, point of sale and logistics infrastructure, has resulted in sales revenue continuing to progressively increase month on month. Revenue growth in Q3 of 23% organic and 96% total growth exceeded the performance achieved in Q2, with full year revenues expected to slightly exceed current market expectations”. That sounds good, so what of a current share price response down over 16.5% towards 15p?

Castings (CGS) has issued a trading statement including reporting “a more consistent conversion of forward schedules in the period. This strength continues to be reflected in the schedules that our OEM customers are providing… remain confident that the company will continue to trade in line with market expectations”. So what of a currently up to 310p share price, £135 million market cap?

A Friday before a bank holiday weekend intra-day “Update on Capital Markets Day” announcement from Safestyle UK (SFE). Now, why don’t I think it is going to be good news from the company which describes itself as “the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market” I wonder?

I bet Elizabeth Lake is regretting joining Revolution Beauty (REVB) as its CFO on May 12 this year. The previous incumbent Andrew Clark hung around till the end of July for an orderly handover, since when we have had a ghastly profits warning and now, today, an admission of potential accounting “issues.” Ms Lake must feel as if she was parachuted onto the Titanic just before the iceberg. Or maybe she should take some blame and walk the plank?

Footwear retailer Shoe Zone (SHOE) has announced “trading has been stronger than expected… now expects adjusted profit before tax for FY 2022 to be not less than £9.5m”. So what of a current share price move up by 3% to 190p?

I say this is David Beckham’s company, just to remind you that Becks owns less than 5% having put in £250,000 at a fraction of the 8p IPO price just over a year ago. In return for promoting this company’s products Becks will trouser a guaranteed c£15 million over five years.  Today Guild (GILD) made a shocking admission but showing it does not give a FF about market rules today saw a shocking admission but not the full story. 

It was back in 2011 that I helped float Port Erin (PEBI) on Aim and indeed I was a director until 2012 when my stint as a crony capitalist ended in tears and failure. Today that company, now known as Agronomics (ANIC) is to delist with my fellow co-founder, Jim Mellon backing a take private move. Jim is doing the right thing. But is there a trading arb now opening up?

I cannot hide my pleasure at today's catastrophic news from Audioboom (BOOM). Media companies should believe in free speech - Rob Proctor's outfit buckled at once forcing me to move bearcast elsewhere. And now Proctor's company faces possible bankruptcy in four weeks time. Ha fucking ha. This is a shambles.

PriceWaterhouseCcoopers, PWC, is acting as administrator to the subsidiaries of Gable Holdings (GAH) and has published a damning report making clear the black hole that has existed there since the start of the year. The shares were suspended only on September 12. This is a scandalous failure on the part of Nomad Zeus and the Oxymorons at AIM Regulation.

Slung off AIM yesterday, Gable's (GAH) main subsidiary is now in administration and the PLC will surely follow, as I explained HERE. No doubt Marcus Stuttard and the oxymoronic clowns round at AIM Regulation will no doubt just dismiss this as "one of those things" that happen now and again on "the world's most successful growth market". The CEO has made £15 million in the AIM years but investors have lost everything. There must be an major and formal enquiry and here is why.

As a long term bear on Gable Holdings (GAH) yesterday's late in the day RNS of doom is a clear vindication and the shares have crashed to 6.75p. But I cannot see how the Nomad, Zeus, manged to sign off on what was said as the RNS makes claims that seem fanciful with regard to a capital injection.

Each year a sell-out dinner takes place attended by over 1300 AIM company directors, Nomads, brokers, accountants, lawyers, analysts, people from the financial PR and investor relations industries and the media. It is the largest AIM gathering in the City calendar, according to the AIM AWARDS website, http://www.aim-awards.co.uk . Lots of mutual back-slapping goes on as they ‘celebrate outstanding achievement on the world’s most successful growth market’.