AIM-listed Rurelec (RUR) has been an untold disaster on AIM. Having ditched the Peter Earl regime, the directors who somehow managed to keep this crock afloat have now left and the outlook is truly grim.

Cash shell Summerway Capital (SWC) has announced it “is currently in discussions with an immediate opportunity in the healthcare and pharmaceutical sector”, with the shares accordingly suspended and boardroom changes including the exit of the Queen of tech buy and build Vin Murria.

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.

Say what you like about serial penny share spiv Chris Akers but if there is a bandwagon to be jumped on he is always the first to hop on board and usually, having taken his grubby turn as gullible private investors pile in, Akers is the first to exit. And that brings us to SPACs and one in particular.

I warned folks on 22 January that cash shell Ridgecrest (RDGC) was, at 3.1p, a £13.5 million accident waiting to happen. With folks such as the penny share hucksters at LSE Share talk, employers of disgraced promoter Zak Mir, in full on spiv mode, folks were piling in even though the company had cash of just £2 million and no other assets. It was insane. Still, if Zak says the shares are a buy…

Previously writing on commercial flooring and specialist construction group Mountfield (MOGP), I noted with the shares falling back below 0.50p last month that, despite it noting vaccination campaign brings hope for improvement, the balance sheet position together with structural uncertainties suggested to continue to avoid. Today developments including a conditional £3.1 million placing… at 0.1975p per share!…

At least we weren’t told anybody was pleased to announce these results on Wednesday morning, but the numbers offered up by AIM-listed Trafalgar Property (TRAF) were once again horrific. And something simply does not ring true.

(sub-)Standard-listed BSF Enterprise (BSFA) released an RNS this morning entitled “Acquisition”. Given that the company listed on the LSE’s (sub-)Standard list about a year ago as a cash shell with a list of Red Flags as long as your arm, including Mr Denis Ow with a heroic list of China-play failures to his name as Head of Investment Banking, I wondered what this acquisition could be…….another dodgy China-play, perhaps, or something else?

Previously writing on Motif Bio (MTFB), in November with the shares above 0.46p I concluded that with clear and significant risk both in delivery from a cash shell and in what the current divestment process will deliver, continue to avoid. The shares last closed at 0.24p but are currently slumping to around 0.15p on the back of a “Corporate Update”…

As I reveal that it is not only Versarien (VRS) up to no good in this respect but also Eurasia Mining (EUA), I wonder which other shameless PLC rampers are up to no good and will AIM Regulation do anything to stop an increasingly disorderly market becoming an open sewer? I look at retail shares and real estate plays on that as more evidence emerges that my very long term "avoid the lot like the plague" stance was correct. I look at changing brokers at Cenkos (CNKS) and Condor Gold (CNR) and Premier Miton (PMI) and what the AIM Casino demise of SalvaRx (SALV), where managers are talented, says about the dangers of backing a cash shell.

Shares in TLA Worldwide (TLA) have soared on an announcement that a “subsidiary… has entered into an agreement to sell… the remainder of the group's sports marketing businesses (the ‘Australian Businesses’) to QMS… the group would become an ‘AIM Rule 15 cash shell’… Net cash proceeds will be used to reduce the amount outstanding under the group's facilities with its bank. The bank has also agreed to waive any outstanding balance of its facilities on receipt of the net cash”…

Having failed to get shareholder support to cancel its AIM admission last year, now a “Settlement of claim and Cancellation update” from MBL Group (MUBL)...

A few weeks back I covered Bould Opportunities (BOU) and the huge increase in the share price, and I must admit that I am surprised that the share price has managed to stay up at these levels. At the time I last wrote about this company - which recently changed its name from Photonstar LED (PSL) - the shares were trading at around 0.045p, and I have been expecting them to drop hard at some point – and still do...

Following my piece HERE which voiced concerns that formerly AIM-listed BMR Group (BMR) had simply been executed by the oxymorons, I had a chat with the company to find out what comes next. My hope is that the company will release a statement in due course, but in the meantime what I can report is that it seems all is not lost. I can also report a little more on the loss of its licence in Zambia (which was subsequently restored).

AIQ (AIQ) joined the Standard List in early January and spent most of the first four months of its life suspended due to a disorderly market, had to correct its admission document because it had missed out some information and steps had to be taken to remove some internet references to businesses which, we are told, it had nothing to do with. It was a shambles. This morning it released its interim numbers to April.

I last wrote about PCG Entertainment (PCGE) about six months ago (HERE) after it announced its Riverfort funding deal which I thought was potentially ok provided PCGE kept up its newsflow to provide the necessary liquidity to soak up the Riverfort sales; however, unfortunately, nothing of any import has been announced and in fact, nothing has happened at PCGE since the dark ages it seems – isn’t it just a cash shell?

A previous announcement from Kin Group (KIN) included “the proposals are in effect now conditional upon the consolidation being approved at the General Meeting to be held on 13 November 2017”. There’s now a “Result of General Meeting” announcement…

I previously wrote on Kin Group (KIN) in August; From dire to ‘kin worse; administrators to be appointed for principal trading business & proposed CVA - including commenting on the company stating “there is no guarantee… will be completed successfully”, with it’s got to be ‘kin joking, right? Is “successfully” what, at best, further mega dilution is? I now note a “Suspension update & proposed share consolidation” announcement…

I am innundated with lunatics and spivs tweeting me that shares in PCG Entertainment (PCGE) are cheap. It is the ramp de jour among the Bulletin Board lunatics. But at 0.15p the valuation is bonkers. Let me explain.

My last piece rather naively thought that Echo Energy’s (ECHO) new institutional equity investor, Spartan Fund, or Pegasus Fund as it became, would want to put its funds in at a fair valuation and thought the share price would go down. I was wrong and must assume that it is all part of the connected group of institutions and individuals here that have led to an insane valuation that appears to indicate that the mere mention of James Parsons is worth £100 million. That is nonsense and this is a massive sell.

Last week Nyota Minerals (NYO) was “pleased to announce” a placing to raise up to approximately £93,880 (approximately Australian$120,000) at 0.02p per share. Despite this thus looking very much a ‘keep the lights on’ raise, the shares have currently reached 0.07p. Hmmm…

21 Aug 2015: “365 Agile ((365), formerly known as Iafyds plc) is pleased to announce the commencement of dealings in its ordinary shares… at a price of 75 pence… following the reverse takeover of 365 Agile Limited”, 06 June 2016: “the board is excited by the multiple prospects afforded by the Internet of Things space”. Today: the shares currently more than 20% lower, at 26.5p, with the board having “reassessed its strategy to develop a meaningful business in the Internet of Things space”. Hmmm…

One other point I wanted to highlight in the world of the subscale investment companies is the incestuous nature of the beast and although there are many I could have looked at, I have chosen Yolo Leisure and Technology plc (YOLO).

Blenheim Natural Resources (BNR) is another much hyped shitty little AIM investment company. It also smothered itself in merde with its recent shoddy dealings with African Potash (AFPO). One of our readers (Bearfacts) posts on this matter, a comment which merits a wider audience. Over to Mr Bearfacts before I add another kicking below: 

Every single Bulletin Board and twitter ramper seems to have a field day with AIM listed Glenwick (GWIK) over the past few weeks - it is the rampttastic cash shell of the moment. This stinks in oh so many ways and why can't these folks do basic maths?

I was interested to see the prospectus for a new cash shell called Falcon Acquisitions published yesterday. The business is headed up by Mark Gustafson and Gert Rieder and the IPO is scheduled for Monday 18 January. 

We recommended shares in Life Science Developments (LIFE) in October at 2.15p and up to 2.25p, with a 3p target to sell by Christmas. It took a tiny bit longer for them to reach the target but still...

An AIM Notice was put out yesterday which shows that there may at least be some vestige of a pulse amongst the regulators of the AIM market. You can read it HERE. With the burgeoning number of sub-scale cash shells on the London Stock Exchange’s junior market which are simply frittering away shareholders’ cash on corporate costs but not achieving anything which will make a return, it is being proposed that the AIM rules be changed so that any new listing of a cash shell is subject to the raising of £6 million (up from £3 million), and that cash-shells resulting from corporate restructurings are given just six months to complete a deal before shares are suspended.

Dave Whitby, CEO of CEB Resources (CEB) is in a tight spot. His share price is motoring and there is a lot of buzz surrounding his stock. Excited British private investors have been eagerly buying into Whitby’s vision, but as Tom Winnifrith pointed out in his Bearcast on Saturday, they might have overextended themselves. The question now is how can Whitby do what is best for his company and shareholders, without letting the market down?

Teathers Financial (TEA) has announced results for the six months ended 30^th April 2015, a period which it states has seen the business transformed.

Now my interest has been reignited in the Sefton Resources (SER) story, I’ve been pursuing various investigative leads and have uncovered something pretty surprising. It look very much like Chief Financial Officer Raylene Whitford is a genuinely decent person, who is doing her level best to save this company. Unlike certain previous executives, Miss Whitford is not a serial market abuser, intent solely on lining her pockets at the expense of Sefton’s shareholders.

November-recommended The Hotel Corp (HCP) has announced results for the 2014 calendar year and that it is “in talks with several parties”… The results statement added that “the board expects a positive future outcome from these discussions” and thus “believe that there is value in the company as a quoted cash shell company”.

Questions are increasingly being asked about Verdes Management (VMP) a cash shell run by Dave Breith of Coms (COMS) infamy. The cash position as at 31^st March was £400,000. However.