Aquis-lobster-potted comedy shit-show TruSpine(TSP) has been publicly censured and fined by the Exchange for a series of breaches covered here on this website, and a few more besides. The report issued yesterday - which can be read HERE - is utterly devastating, and a lesson to the Oxymorons at AIM.
Last covered, lobster-potted TruSpine (TSP) on the Aquis exchange had just survived a shareholder revolt to sack the board following a dispute with the inventor of its IP (ownership of which is under dispute). Since then it has sacked one board member, submitted its massively overdue FDA application for a spinal device which I suspect will run into difficulties, remains technically insolvent and today has announced it has raised a paltry £50,000 – not even enough to keep the lights on!
Who could have predicted this shitshow? I did but pompous Andrew Monk (Oriel College Oxford, don’t you know) insisted I was talking nonsense. You may well remember that Monkey only managed to record a profit last year by booking a £1 million fee from Aquis lobster pot listed Silverwood (SLWD) for advising it on its purchase of 20% of Lush. The fee was payable in shares which are completely untradeable. Uh oh!
Today Cloudbreak Discover (CDL) announced a new keep the lights on death spiral. In looking at this I saw that the (interim, following a sudden resignation last month) CEO is Andrew Male. That name rings a bell? Andrew Male, what the f**k is financial adviser Novum thinking? As John McEnroe used to scream “you cannot be serious?”
A missive has landed from an investor is Aquis-listed shambles TruSpine (TSP) in the wake of its requisitioned sack-the-board EGM, which the board (just) survived. The missive – a letter to TruSpine’s Registrar - asks some important questions.
I realise that he has a jet setting champagne lifestyle to support and a luxury holiday home on the Cornish Riviera to maintain, but is there any client that Andrew Monk at VSA Capital will not act for? The rule breakers and insider dealers at Caracal Gold (GCAT)? Tick. The scallywags at Silverwood Brands (SLWD)? Tick. But coffee chain Cooks (COOK) which Monkey brought to Aquis last November now takes the biscuit. It has today served up results for the year to March 31 2023, so let’s look at VSA’s forecasts from an IPO just over four months before the year end. Prepare to be shocked.
On 17 March 2023 Essentially Group (ESSN) listed on the Aquis Lobster pot having raised £600,000 at 50p. Amazingly the shares are now 54.5p thanks to a series of fairly trivial buy orders since the IPO. But today, just two months after the IPO there is bad news.
Most journalists worry that Artificial Intelligence, AI, will in due course threaten their jobs. Zak Mir claims to be a member of the National Union of Journalists but, judging by an update from his Aquis listed Lift Global Ventures (LFT) yesterday, his work will only be threatened by advances in the development of Artificial Stupidity.
Oh dearie me. Another day, anther revelation – this time of a link between Aquis-listed TruSpine (TSP) CEO Laurence Strauss and Hub 2021 Ltd – with which Strauss signed a debenture over its (claimed) IP more than two months after the announcement of a loan (which the company at the time claimed had already been made). Ooopsadaisie….
I have covered the technical insolvency of Aquis-listed TruSpine (TSP) many times on this website, and its failure to submit an FDA-application for its Cervi-Lok product by December 2020 as promised in the paperwork for its Aquis flotation in 2020, ahead of which it had apparently raised £1.4 million and a further “binding subscription” for £250,000 which never arrived. The company updated the market at Christmas that the application was delayed, but when did it know this would be the case? This is shocking.
The Aquis rule-book is pretty similar to that of AIM. In that regard, one would assume that the company is obliged to keep its shareholder information offered on the company website up-to-date. But the shambles that is TruSpine (TSP) clearly hasn’t been: if what follows isn’t a breach of the rules, it jolly well should be – and there are real-world consequences!
Oh dear, oh dear – it is hard to imagine things getting any worse at Aquis lobster-potted TruSpine (TSP). Given that it faces a requisitioned sack-the-board EGM at the end of the month which seems to me certain to succeed, it is technically insolvent and running out of cash and, critically, has failed to deliver an FDA application for (it claims) its Cervi-Lok IP which was promised back in December 2020 and numerous fundings have mysteriously vanished you would have thought it really couldn’t get any worse. But today…..
Yesterday, at 3.35pm – as the City was winding down for the coronation – the board of TruSpine put itself up for a special crowning too as the date was set for a sack-the-board requisitioned EGM. The accompanying CEO statement will, I suggest, just harden the attitudes of rebel shareholders.
Oh dear, oh dear, oh dear. If you thought things were bad at Aquis-lobster-potted TruSpine (TSP) they seem to have got a whole lot worse. Quite apart from the sack-the-board EGM Requisition, it now appears that the company has mortgaged itself up to the hilt – including its intellectual property…….but I might have bad news on that front. Oh, and it is Ouzo time once again as the company finally admitted that its would-be funder announced back in January with £200,000 available immediately isn’t funding it after all. Again. There's a surprise......not!
Where there is a bandwagon to jump on, Big Dave Lenigas will jump on it. The stench is everywhere at the Aquis lobster pot as Lenigas has made a, very unwelcome, return to the UK IPO scene. As ever the stench is of greed. Vinanz (BTC) is ostensibly a sub scale bitcoin miner.
I have wondered aloud as to whether Aquis-listed TruSpine (TSP) was telling the whole truth about the severance of its relationship with the inventor of its (or perhaps not its) products. A dynamite email has landed with me which asks many questions, as you can see below.
We all know that Aquis-listed TruSpine (TSP) is in a total mess. Its immediate problem is that its net current assets are well in the red, a loan and funding deal, promised as being “available immediately” in January, hasn’t materialised and now the relationship with the inventor of the company’s products has been terminated by the company (or was that the other way around?) before the long-promised but never delivered FDA application for the products has materialised. So is it, in fact, insolvent?
This morning the shambles that is the technically insolvent Aquis-listed TruSpine (TSP) updated the market: its chairman has resigned (or, perhaps “has been” resigned) and the company tells us that it has terminated its relationship with, in effect, the inventor of its spinal products. In my view this nonsense should be suspended from trading forthwith, pending financial clarification……or just sent to the corporate undertaker’s office immediately and a clarification statement is needed urgently.
No this is not a five-day late April Fool. David Lenigas really is on the cusp of listing a new bitcoin mining company on the Aquis Lobster Pot, Vinanz. Aquis today announced that First Sentinel is the advisor without any moral qualms and it has applied for a listing. But there is already one red flag flying here and it concerns Richard Poulden’s Aquis listed joke company Valereum Blockchain (VLRM) which we have exposed on this website numerous times.
Three years and five days after listing on the Aquis lobster pot after raising £4.25 million at 110p British Honey (BHC) has today gone bust and appointed administrators. I warned that it was “uninvestable” when the shares were 114p in October 2021. Today it is game over. As I consider honey and ouzo on my cornflakes, the list of warning signs were there for all to see. Natch folks knew better than Old Tom.
Those who have been following my pieces about Aquis lobster-potted spinal product outfit TruSpine (TSP) will know that it hasn’t met a single target ever set since listing on Aquis and its balance sheet is currently a wreck. You will also be aware of a funding package announced at the beginning of January offering funds “available immediately” hasn’t brought in a penny two and a half months later. At the end of February the company announced that an alternative lender had been found to cough up £200,000 at 12% interest – rising to 20% if the loan is not repaid by 31 July 2023. It was nowhere near enough to see the company through, as shown by its update a few days later. But was there another, much larger, offer on the table – which was or is being ignored?
Not only does Andrew Monk and VSA Capital list shitcos on the Aquis Lobster Pot but VSA itself is listed on Aquis too. It listed at 21p on 9 September 2021. Its shares are 49% down so far this year and can now be sold for just 10p. But has the Monkey legged over investors with a misleading trading statement. I think the graduate of Oriel College Oxford (has he told us about his posh education yet today?) has and have written to Aquis Regulation suggesting it force VSA to clarify.
TruSpine (TSP) - the spinal product shambles on the Aquis lobster-pot - told the market on 3rd January 2023 that a £200,000 bridging loan was “available immediately” but did not arrive in January at all…..or February. The company has now announced that a third party has stumped up £200,000 in addition to the bridging loan facility and non-binding letter of intent for equity financing. Oh, and the CEO has (or has been) resigned (but remains with the company). Red Flags for breakfast, anyone?
This morning, Aquis listed Truspine (TSP) has admitted that refinancing has ( again) not yet arrived and that it is reliant on the support of its creditors. Unfortunately for it, we have has been supplied with an email and spreadsheet showing exactly how it is dicking its creditors and how big the sums involved are for each creditor. Naturally we publish in full.
It seems that no amount of ramping can help AIM-listed Advanced Oncotherapy (AVO) now. The company is in deep shit – and has essentially admitted as much. I would suggest also that the recent note from pay-as-you-go “researcher” (to be polite) Hardman is also an almighty sell signal. At the root of the problem is the cash-guzzling nature of the business, but with a 25p par price and the shares now at just 7.5p it is clear that shareholders are about to take a bath. Or the whole shooting match could follow fellow proton therapy outfit Rutherford Health (RUTH - ex-of the Aquis lobster pot) to the great central bank in the sky. Anyone holding is, in my view, insane.
Aquis lobster-potted TruSpine (TSP) released a statement yesterday morning to tell us that the £200,000 bridging loan, available “immediately” on 3rd January (but never arrived), which was expected to be received “shortly” on 1st February, has still not arrived. Natch, the company maintains it is on its way. Yeah, right…..the cheque’s in the post, caught up the mail strikes and next up it won’t have been signed.
I’m not sure that one can believe anything that Aquis lobster-potted TruSpine (TSP) says. Its IPO didn’t raise the funds stated, it failed to meet the year-end deadline following IPO to submit its FDA approval application for its CerviLok spinal support system and has missed just about every deadline set. On 3rd January 2023, having run perilously short of funds, it told us that it had entered into a Bridge Loan facility – £200,000 to be available immediately.
The comedy continues on the Aquis lobster-pot, where TruSpine (TSP) listed in August 2020 promising to have an FDA-application submitted by year-end for its spinal stabilisation system, which is still outstanding some two and a half years on. Worse still, it needs funding pdq: the fat lady is hovering in the wings right now.
Shares in Probiotix Health (AQSE - PBX), spun-off onto Aquis by OptiBiotix Health (OPTI), have slumped over the past few days to 10p, a £12.2 million market cap, following the ‘lock-up period’ on the shares ending. However, we’ve spoken to boss Stephen O'Hara and we are certainly not selling our shares here.
In today's podcast I look at the critical difference between the Standard List & Aquis and the AIM sewer and why advisers like Andrew Monk are thus anti AIM. I am not so sure. Then I look at Kefi (KEFI) some of whose shareholders who just do not understand insider dealing laws are doing my head in.
NFT Investments (NFT) likes to describe itself as an “incubator specialising in the market for non-fungible tokens (NFTs).” Some of us view it as a puffed up promote created and run by the chancers Jonathan Bixby and Mike Edwards. For we sceptics today an announcement. As Richard Littlejohn might say “You couldn’t make this up.”
I today asked the advisers to Tap Global (TAP) which joined the Aquis lobster pot today via a reversal into Quetzal Capital to justify why Tap was worth £20.5 million and 4.5p and the enlarged group worth £32.2 million. There has been no answer. Why? Because even by the standards of shitcoin and crypto-shite this valuation is bonkers. It’s a car crash in the making and shames all involved.
This morning Aquis lobster-potted TruSpine (TSP) finally served up the interim results to September 2022 that it should have released before the calendar year-end. They are truly dreadful – and were accompanied by a funding announcement which may or may not happen. Given the company’s record, I expect a delay, then another delay…..
I have been getting more interested in Aquis lobster-potted TruSpine (TSP) every day – more particularly the people behind it. In part one I looked at CFO Norman Lott. Now I want to look at the inventor of TruSpine’s devices – Professor Frank Boehm. This will shock you.
Andrew Monk of VSA, who no longer speaks to me but only to deadwood press journalists who blow smoke up his arse, keeps on saying how wonderful Aquis is and how it will replace AIM. But it cannot unless it addresses the long tail of garbage listed there. I mention a few names but focus in on today’s statement from Love Hemp (LIFE). It is possibly the worst trading statement I have ever seen from a listed company. I then discuss why Mirriad (MIRI) may say it has £11m cash but why it is a zero.
I have been keeping an eye on Aquis lobster-pot listed Truspine (TSP) for almost two years, ever since it announced on Christmas Eve 2020 that its application for FDA clearance for its Cervi-Lok product would not be in by the end of the year, as promised at its IPO the previous August. The company has been remarkably silent since announcing that its financial position remained weak on 31st October this year. Hmm…….
Who said that for a small cap broker “delisting is inevitable. All are struggling to survive in a climate of scarce deals, low trading volumes, strong competition and rising costs” Okay it is a trick question but the answer is Andrew Monk of VSA Capital (VSA). The trick is that …
Fungai Ndoro who runs Aquis listed Oscillate (MUSH) is not a bad girl but any company that invests its shareholders cash in Dev Clever (DEV) warrants must – for reasons explained HERE – be run by someone who is smoking something. Today Oscillate has announced an RTO which makes no sense at all.
Andrew Monk’s VSA Resources is bringing NZ listed Cooks Coffee to London with a dual Aquis listing. Because the world needs more coffee shops as we head into a severe recession which will force discretionary spending off a cliff? Whatever you say Monkey.
I have written to Aquis Regulation, ccing in the Financial Reporting Council, if Aquis needs some help with basic accountancy, on the subject of interims from Richard Poulden’s Valereum Blockchain (VLRM). These numbers need to be restated with Poulden deserving a public slap on the wrists.
Disgraced Aquis listed Eight Capital Partners (ECP) has today published its interim results for the six months ended 30 June 2022. The numbers were piss poor with revenue of just £58,000 and a loss before tax of £506,000. And they were non compliant but who cares as this is the bastard little brother of Standard listed fraud Supply@ME Capital (SYME).
I start with a joke the late Steve Holdsworth would have appreciated for I can confirm that reports of his death were, sadly, not exaggerated. Then onto two US oil plays where I see big troubles ahead: Canadian Overseas Petroleum (COPL) and Zephyr Energy (ZPHR). Then onto the failings of Aquis in covering up the sins of disgraced Graham Mullis at Love Hemp (LIFE) and onto another shocker from the lobster pot Evrima (EVA), hat tip M for that one. Finally, a detailed look at Powerhouse Energy (PHE), its dismal interims, Zak's appalling forecast/plain paid for ramping and the looming cash crisis set to unfold by this time next year. The big tent for ShareStock arrived today. Gosh it is heavy. I am dreading trying to put it up. To get inside it book your seats HERE.
Having told a grotesque lie to investors about raising cash which it had in fact not raised, the board of Aquis listed Love Hemp (LIFE) should be in jail. Instead, with almost no cash, it limps on, its shares suspended as no advisor has signed up to replace Peterhouse, which quit when the lie emerged. Today another deceit.
It has been suggested to me that my criticism of Zak Mir’s Lift Global Ventures (LFT) is driven by jealousy in that The Sith Lord is clearly coining it in. Au contraire. It is because everything about this stinks. And if the FCA and Aquis Regulation were not so utterly useless they would be all over this. Let me explain why.
CBD outfit Love Hemp (LIFE), backed by boxer Anthony Joshua , is the company that lied to investors about having raised cash when it had not. That led to its Aquis adviser (Peterhouse) quitting and the shares being suspended on May 3. It says it is still talking to a new adviser but which adviser is bent enough to want to act for a company that lies about such matters? And then there is a trading statement today.
The aquis-listed pot play, Love Hemp (LIFE) - backed by boxer, Anthony Joshua - committed fraud in February of this year. Its adviser, Peterhouse, rightly quit, leaving the shares suspended. Today, Love has reshuffled the corporate deckchairs and is talking to a new advisor, so people can trade its shares again. Which advisor is so bent that it will act for a demonstrable fraud?
He was coming by the end of 2020. Then he was going to appear during Q1 2021. Then Q2 2021. Then by the end of the year. And then by the close of Q2 2022 – ie yesterday…….and surprise, surprise, he hasn’t come. But he is most certainly coming tomorrow. Honest, guv’.
In an extraordinary announcement this morning, AIM-listed Vela Technologies (VELA) has announced that it has just discovered that – unbeknown to its Board – it had apparently invested £300,000 into Aquis-listed TruSpine (TSP) as part of a subscription announced by TruSpine on 31 May 2022. What???!! And then this afternoon a clarification.
Rutherford Health (RUTH), the former Proton Partners which listed at what was always a joke price on the Aquis (then NEX) lobster-pot, backed by a Woodford promise which cost his investors another £80 million, has finally admitted the game is up. It is to be liquidated. That’s around £240 million down the drain. This is a crime and you know who the main criminal is.
On Monday I asked When Will The Money Run Out? at Aquis lobster-potted TruSpine (TSP) and yesterday we got the answer, in the form of a placing, subscription and a debt-for-equity exchange raising £700,000 (before expenses) of new money and converting a stack of outstanding directors fees and third party creditors. Eat your heart out, Mystic Meg! Oh, and er…..oopsie…..the company “forgot” to mention that it had issued 724,902 shares to third party creditors back in November, failing to issue an RNS or apply for those shares to commence trading. Move along please, nothing to see here!
Aquis-listed TruSpine (TSP) is yet another of the disastrous recent IPOs to have sullied the London markets. Having joined the lobster-pot in August 2020 at 36p, the shares have utterly collapsed in the wake of an IPO subscription doing a runner and multiple delays to the approval of its Cervi-lok spinal stabilisation device, which was supposed to have seen FDA submissions completed in Q4 2020 and we were promised commercial sales in 2021. Here we are at the end of May 2022 and the FDA has not yet been satisfied, there is no sign of any sales and the shares are now just 4.3p in the middle. Ouch! But has the company run out of cash?
This is a major scandal - one that will create massive embarrassment for those operating in the depths of the AIM, Aquis and Standard List sewers. And for Matt Lofgran of Nostra Terra (NTOG), his buddy, Gavin Burnell of the Globo (GBO) fraud, and Novum infamy, it poses a major question of what they knew and when.
Aquis listed VSA Capital (VSA) makes its dosh floating and raising money for shitty little companies on AIM, the Sub Standard List and Aquis. The photo below, from yesterday, shows its staff preparing to party in the sun. So, with a prize of some worthless shares in star VSA float AIQ Limited (AIQ), let's all play "spot the customer's yachts."
First thing yesterday morning shares in Love Hemp (LIFE) the pot play backed by boxer Anthony Joshua saw its shares suspended. At 4.35 PM it fessed to the grisly truth: it had lied about a fund raise announced on 8 February. But then it carried on lying. No wonder, adviser Peterhouse has resigned.
Once a dawg with fleas always a dawg with fleas. I covered the horrors of David Lenigas created horror story Afriag (AFRI) in full. Eventually after too many criminals such as Yusuf Kajee were exposed by this fine website, the company was booted off AIM and then, via a RTO organized by those scallywags at Peterhouse which took two years to consumate, became a medicinal cannabis play based in Jamaica and listed on the Aquis lobster pot. On April 13 2021 £2.5 million was raised at 5p and the company became Apollon Formularies (APOL). Now follow the white rabbit for the shares are now 2.6p and a cash crisis looms.
I previously covered the ignominious delisting of Rutherford Health, formerly Proton Partners, from the Aquis lobster-pot. But I fear the denouement for this Woodford favourite has only just started, as a quick trip to Companies House shows and for those left holding the baby – the remains of Neil Woodford’s Equity (lack of) Income fund (now LF Equity Income Fund) and Schroder UK Public Private Trust (SUPP) – there is surely more bad news to come.
The Sith Lord Zak Mir always tells me that all publicity for him is good publicity. That is why, as I, alone, report his utterly atrocious stock picking, inability to understand even the basic grammar he was taught at Harrow or his strange business ventures. He should be so incredibly grateful to me. I am almost the only chronicler of the Fall and Rise of Reggie Mir. And that brings us to Lift Ventures. Is it Lift Off or Lift on?
Insolvent Aquis lobster pot listed Lombard Capital (LCAP) starts its annual results statement today with the statement “ The period under review has been extremely difficult for the company and the directors’ well-being.” That would presumably include the director given vast unsecured loans to 100% fund two start up companies? Yes him. Diddums. My heart bleeds. Suffice to say the results are shite and the statement wholly misleading.
Our old friends at Aquis-listed TruSpine (TSP) have been at it again, releasing interims results to September and announcing yet more delays for its Cervi-LOK product during no-one-is-watching week. Oh, and the cash is running out yet again. What’s not to like?
I end with a seasonal message of goodwill to all men. I start with a detailed demolition of Versarien (VRS), Deepmatter (DMTR) whose placing statement is a disgrace and finally of Love Hemp (LIFE) an Aquis dog from Peterhouse Capital where, after today, there are more red flags flying than on May Day in Moscow. It is a shocker. I also have somewhat implausible news about Central Copper Resources.
Aquis-listed investment dog Gledhow (GDH) really does show what a small world the lower reaches of the London small cap sewer can be. Let us start with Gledhow’s boss Guy Miller. This is a part time gig for Guy. His main job is as a director of Corporate Finance at Peterhouse Capital. Keeping communications easy, the company’s Aquis adviser is, er … Peterhouse capital. Guy, meet Guy, you need to chat. It gets better.
At 3:42pm yesterday it was announced that Aquis lobster-potted Rutherford Health (RUTH) – formerly Neil Woodford shambles Proton Partners – is to delist, thus bringing to an end what must have been the most outrageous listing by Neil Woodford on the market today. This follows a management restructuring – getting rid of the CEO, the Chair and a raft of NEDs – after the company failed to raise new money and the cash ran out, leaving it reliant on bridging finance and the arrival of a Chief Restructuring Officer.
Aquis-listed Rutherford Health (RUTH) – formerly Proton Partners – announced this morning that it has secured bridge financing from shareholders including Neil Woodford’s former stamping ground of Schroder UK Public Private Trust (SUPP) – formerly Woodford Patient Capital – and LF Equity Income Fund – the unsaleable rump left over from the Woodford Equity Income fund – to raise up to £10 million in the form of various loans costing 15% per annum. The old saying that if you owe the bank a quid you’ve got a problem, but if you owe the bank a million quid then it is the bank which has the problem is writ large here.
Last Friday Aquis-listed Rutherford Health (RUTH) advised that it was in discussions to secure bridge financing and that a further announcement would follow this week. This followed the non-appearance of placing monies originally announced back in August which were repeatedly put back. Is the company out of cash yet?
This is so tawdry even by the standards of the penny share world. It is more incestuous than a family get together in Norfolk. Only in a bull market, and NFTs are exhibiting all the craziness of a bull market, would regulators look away and investors swallow this bull. NFT Investments is a disgrace well known to readers of this website. Now meet the other players.
RentGuarantor Holdings PLC provides a rent guarantee service to tenants wishing to rent property in the UK from the Private Rental Sector. The rent guarantee service is an online service where applications can be managed on a secure and bespoke digital platform designed and built by RentGuarantor Holdings PLC So says the company but ahead of its 8 December listing on the lobster pot c/o Alfred Henry there is already a massive red flag fluttering. In fact there are a number.
I kid you not. Natch there is a very obviously related party stink, the valuation is a joke, the brokers behind it are scumbags and my friend Zak is a clown who doesn’t have a scooby about media and fintech M&A but do not let me put you off. This madness will at least be entertaining, if not rewarding for those daft enough to back it.
We live in an era of greed, an era when the unscrupulous will encourage you to speculate on the uninvestable. They will make money in these fag days of the bull market. If you invest in their companies or products you will lose money. It is that simple. Welcome to the latest creation of David Lenigas. Of course he is not a director…
Aquis lobster-potted Rutherford Health (RUTH) – formerly Neil Woodford favourite Proton Partners – has announced a deal to open new health clinics in partnership with BUPA. Great, whizzo……but there is just one tiny little thing wrong here!
Aquis listed Pioneer Media (PNER) run by serial promoter and related party deal specialist Mike Edwards or, as he now likes to be known, “Mike Edwards”, has put out a release today about the acquisition of CryptoPunk 8869 in Canada. It is pure unadulterated gobbledygook but that is the point. I have asked several very smart folks including the Dark Destroyer and Jim Mellon if they understand it and can explain it but they cannot. Neither can I. But few are brave enough to admit it and so the narrative that this makes sense, that the Emperor’s New Clothes are just splendid goes unchallenged.
Aquis lobster-pot listed Rutherford Health (RUTH) has announced yet another delay in its acquisition of Proton Partners International Health Care Investments LLC, UAE. The deal, originally announced on 31 August 2021 – along with a placing which is also delayed – was due to complete 21 days on from a share swap deed dated 28 August. Then it was 11 October 2021. Now it is 16 November and the ShareProphets bookies are offering generous odds on yet another extension after that.
The antics of the Mike Edwards/Jonathan Bixby gang at Aquis listed Dispersion Technologies (DEFI) have been well documented on this website. All sorts of scoundrels backed this in a heavily discounted pre-IPO round, the sort of scoundrels whose accounts at broker Pello ignore lockins and the smoke and mirrors continues today with news of an acquisition. The stench here is getting unbearable.
British Honey Company (BHC) which makes honey but not money listed on the Aquis lobster pot at 110p on March 16 2020. Amazingly the shares are now 114p but given the shenanigans of the past 18 months that is both unsustainable and ludicrous.
I am shocked to see that my old pal Sir Aubrey Brocklebank, Bt, joined this Aquis listed joke company shortly after its admission to the lobster pot last November for everything about it is a complete rum ‘n’ coke. Today it has announced that its shares were suspended a week ago – why rush out the bad news to the plebs eh Sir Aubrey. All the important chaps already know. Don’t you know?
As African Potash (AFPO) this company was booted off the AIM Casino after its Nomad quid when discovering – thanks to me – that the company had told grotesque lies to get placings away, it had committed fraud. Chris Cleverley, cousin of leading Tory James who is no longer claiming he wants to buy West Ham, then took Potash to the Aquis lobster pot, changed its name to Block Commodities (BLCC) and carried on telling lies to investors for which the company was censured and fined, after I pointed this out to regulators. Could it get any worse? You bet.
It is hard to know where to start with the ludicrous announcements from Aquis Listed Eight Capital Partners (ECP) controlled by former Supply@ME Capital (SYME) boss Dominic White. But having seen the FCA overlook industrial scale fraud at Supply, in its capacity as , ahem, “regulator” of the Standard List, White says he is going to move Eight to the Standard List. Surely the FCA has to reject this application? Why?
I commented on Tuesday that Acquis-listed Rutherford Health (RUTH) seems to be having a bit of a problem collecting the placing proceeds originally announced at the end of August. The original payment day – September 13th – came and went, with an after-hours announcement that the deadline had been extended to September 23rd – yesterday. There was no announcement yesterday, but at 11.57am – ie lunchtime – today the company announced the grisly news:
Aquis lobster-pot listed TruSpine (TSP) has announced a placing raising just £650,000 – of which only £500,000 of actual cash was raised (the balance being fee shares, one presumes to the fine Broker involved to cover coke and hookers costs). Quite why anyone would pay 10p for shares which are trading at just 8.75p (up 0.65p) even after the announcement) is beyond me! But the highlight was the update over FDA submission for its Cervi-LOK product.
David Lenigas is to ramptastic tweeting what Colin Bird is to pre placing pumps. He just cannot help himself. Today’s special is a picture of two men in late middle age standing in a tax haven shaking hands. Apparently this is very significant for Aquis lobster pot listed Valereum (VLRM), the crypto play pumped to 80p three months ago as the shameless chartist turned penny share stock promoter Zak Mir called it up to £2, That helped it get away a £1 million placing at 70p. Its shares now trade at 29p but even that is still a staggering 20 times net assets for this loss making business. Maybe three men could shake hands tomorrow in some tax dodging location and that would be even more significant, eh Dave?
It has been widely reported that lawyer Chris Cleverly is the key London player in PAI, the company that wishes to buy West Ham and that Cleverly, cousin of Tory high flier James, is colourful. As a diehard hammer I put this article outside paywalls so that supporters of the club, the Ferdinand Brothers who back PAI and the current owners are fully aware that Chris Cleverly is more than colourful, he is a serial fraudster and habitual liar. Everything he touches may see him prosper but everyone else gets screwed. I have exposed his frauds over many years, seen off his intimidation of me as an investigative journalist and ensured that his company was booted off London’s AIM Market.
NFT Investments (NFT) is like Dispersion Holdings (DEFI) an investment company listed on the Aquis lobster pot. The chancers who own most of the shares thanks to pre IPO funding at a huge discount to the IPO are the same crew led by Mike Edwards and Jonathan Bixby. Scumbag broker Novum raised most of the cash, £11.2 million for Dispersion and £35 million for NFT. And the connections do not end there.
I doubt any ShareProphets readers are involved with Aquis-listed Freyherr International Group (FRYR), but news today shows us what a complete shambles it – and the Aquis exchange – really is. Freyherr is a cannabis play with operations in Slovenia. But it can’t get its accounts out due to Covid (natch) and is being booted off Aquis today. But fear not, for Baldrick has a cunning plan…..
Early Equity plc (EEQP) is an investment company listed on the Aquis lobster-pot and has been kicking around since 2007. Its last results – for the year to August 2020 – showed that accumulated losses had topped £2 million, a fine achievement for a £7 million market cap company! Last week it announced the result of its reconvened AGM – which doubled as a sack-the-board EGM: time to reach for the beer and popcorn!
They used to be called cash shells but Peterhouse likes to brand its pointless financial creations SPACs (Special Purpose Acquisition Companies) to make them sound more sexy. Of course what they really are, are money making machines for greedy founder investors and rampers like Chris Akers, the Wolf of AIM, and for financiers like Peterhouse who float them on a production line of greed.
First, whatever Aquis was called back then booted US Oil & Gas (USOP) off for telling porkies. Then it was the Danish GSX Exchange where this company was once valued at £300 million which booted USOP off for telling porkies. Now we have a hat-trick which is quite some going for wee Brian McDonnell – the liar who runs this fraud which I have documented fully on this website. But this time I think it is Brian who wanted the shares booted off. Let me explain.
Booted off what is now Aquis for lying to investors and then suspended on a Danish bourse before it closed, no exchange will now list US Oil & Gas (USOP) but still its laughable boss little Brian McDonnell battles on with ludicrous releases as he tries to part savers from their savings: “It’s the way I tell em” he smirks but folks who have lost almost everything in a company once ramped up to a £300 million valuation but which is worthless are not laughing.
Shameless Aussie penny share promoter David “Did I mention that Horse Hill is bigger than Saudi Arabia – Lenigas owns shed loads of shares in a tiny Aquis listed serial dog, Valereum Blockchain (VLRM), which has less than £300,000 cash and – as things stand – no actual revenues. par for the course with a Lenigas ramp. His ramping on twitter is bad enough but he saves the worst excesses for a private Telegram chat room where he assumes, one suspects, that he will not be exposed. Wrong!
96% of you are yet to get your credit card out. I really do have a Dan Levi in his underpants picture and am not kidding about publishing so please do donate to Rogue Bloggers for Woodlarks now HERE. Then it is onto NFT Investments and NFT’s and the scandal I covered HERE. I look at previous bubbles and try to put it into context. All those involved: the promoters Jonathan Bixby & Michael Edwards, scumbag broker Novum and Aquis should hang their heads in shame. They won’t. They are preparing to do it all over again and soon.
David Lenigas was unable to float his poxy related party spoof Lenigas Cuba on AIM or the Standard List as regulators objected to the way he awarded himself gazillions of founder shares at peanuts before raising money shortly after from mug punters at a vast premium. There was no justification for the uplift, it was just greed, and even the AIM sewer and the FCA regulated (no sniggering at the back) Standard List have some standards. Luckily, Aquis has no standards and so Lenigas Cuba listed there. Of course it ended in tears. But that established that Aquis has no qualms about quite appalling greed. Take NFT Investments.
Valereum (VLRM) in the Aquis lobster pot has, as of today, zero revenues and – if it is lucky – £300,000 net cash. But mention the magig bitcoin word, throw in a few tokens and some magic beans and, hey presto, promoter David Lenigas and the Sith Lord Zak Mir reckon the shares should hit 60p. That would be a valuation of £38 million. Whatever you say Gents…today’s ramptastic love triangle from twitter is below.
Schroder UK Public Private Trust (SUPP) – formerly Neil Woodford’s Patient Capital Trust (WPCT) – slipped out a new but unaudited net asset value statement yesterday at 3.32pm and it was shocking: it wiped another 20% off the previously stated NAV to bring the official figure down to just 35.01p per share. That, against the fantasy 89.07p when the flagship Woodford fund, Woodford Equity Income, was gated on 3 June 2019.
Cripes! This must be a record. First Sentinel was only appointed as corporate advisor to Block Commodities (BLCC), formerly the African Potash (AFPO) fraud on March 4. Today it has resigned with immediate effect meaning the shares are suspended yet again. The reason: exposes by the Sheriff of Aquis, a man whose day job is the Sheriff of AIM.
When your cousin James is a Foreign Office minister and tipped as a future Prime Minister and you mix freely among the Westminster great and good you might think that you are above the law. That certainly seems to be the case for Chris Cleverly who has spent the past five years lying to investors and raising cash on the back of it. Now he has a new con which he is trying to float on the Standard List of the London Stock Exchange via a backdoor reverse takeover into an insolvent company, and he has now roped in a US listed company which is already lying to its investors. The FCA and SEC must act at once. Cleverly’s crime spree started at AIM listed African Potash (AFPO).
Amazingly, after all the lies, well documented on this website, that African Potash (AFPO) told before being slung off the AIM sewer and all the lies it has continued to tell under its new name of Block Commodities (BLCC) while on the joke Aquis Market, the shares remain listed. Lyin’ Chris Cleverly has, however, stepped down “to pursue other interests”. That announcement came as the company managed to find an adviser to act for it. I wonder if it was a condition.
I noted the huge potential for free entertainment at Aquis-listed TruSpine (TSP) in the New Year Red Flags Sweepstakes results, when TruSpine had achieved the dubious double of a Red Flags Christmas Eve RNS (a three month delay to the application for FDA clearance of its Cervi-LOK product that was due at the end of the month which it apparently had only just noticed) and another on New Year’s Eve in the form of Interims to September 2020 showing net current assets of just £511,813 after a loss of £423,148. This week saw some news. No sniggering at the back……..
We live in times of sheer insanity. It is a rampers’ paradise and cometh the day cometh the four horsemen of the rampfest apocalypse. I bring you a tale of sheer insanity from the Aquis lobster pot market, formerly the NEX Exchange. It starts with what was once PGC Entertainment (PGCE), a serial uber dog which was eventually slung off the AIM casino. I should say that its boss is my pal Richard Poulden.
You member Rutherford (RUTH), the company listed on NEX, now Aquis, on a bonkers valuation with Neil Woodford opting to put cash in at a far higher price than was needed so his funds could cut their unquoted holdings and book gains on earlier investments so earning more management fees for the disgraced multi-millionaire fund manager? Yes, that one. It is still going but it seems to have burned its way through all of Woodford’s investors’ cash and some…
Aquis-listed Rutherford Health (RUTH), the former Proton Partners that Neil Woodford so merrily put his former fundholders on the hook to fund at a ludicrous price, has published its Interims to August 31 this morning. What a shambles!
It is less than a year since fuel emulsifier Sulnox floated on the NEX market, now branded Aquis, and already a couple of directors and the auditors have walked. But now comes a GM Request to oust boss Nick Nelson (a good guy) and his fellow directors and replace them with four new suits. But in a world where Aquis Regulation and the FCA were not complete chocolate teapots, the convicted fraudster behind the coup would surely have been stopped. Yes that is right – this coup is masterminded by a convicted felon.
Oh dear, Lyin’ Chris Cleverley, the cousin of Tory party bigwig James, is in a spot of bother having been slammed by the regulators of the junior exchange Aquis for misleading investors in his POS company Block Commodities, formerly African Potash. Better still, Aquis acted on a specific letter from my good self sent on 18 November 2019.