Keyword results: corporate undertakers

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Esken – Formerly Stobart Group – FY Numbers: “Well Positioned For Future Growth”? Not If You Are A Shareholder!

My continued advice to keep well away from fully-listed Esken (ESKN) – the former Stobart Group (STOB) seems to have been well placed. Quite apart from the serial Red-Flags-At-Night announcements, there is the small matter of the share price continuing to collapse. A year ago the shares were 32.9p and I said sell; last August they had fallen to 15p and I said keep well away. Now they are just 8.77p and there are a few Red Flags in the FY22 results (to February) to suggest that there is still further to fall.

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Tern – It’s a Very Wyld World

I’ve been taking a look through the annual report from Wyld, AIM-listed Tern’s second largest investment, for calendar 2021. Needless to say, there was no announcement form Tern over this…..

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Rutherford Health – The £100m Ghost Of Neil Woodford Strikes

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.

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Rutherford Health (formerly Woodford Favourite Aquis lobster-potted Proton Partners) – Where Is The Financing Update, Or Is It A Visit To The Corporate Hospital In The Sky?

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?

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Bear
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Three Shares You Just Don’t Want To Own as they should all go bust!

Tom Winnifrith has plenty more, but here are three shares you just don’t want to own. All look like they should be toast.

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Catenae Innovation – Calamitous Results: SELL

AIM-listed Catenae Innovation (CTEA) has announced its delayed FY20 results and Interims to March 2021. You can’t say we didn’t warn you: in short, the numbers are calamitous and the shares are an outstanding sell. It is Ouzo on Cornflakes time!

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Esken (formerly Stobart Group) – failure of sale of Stobart Air, Duff trading, placing ahoy and possible part-sale of Southend airport

Fully listed Esken Limited (ESKN), formerly Neil Woodford favourite Stobart Group Ltd (STOB), has announced that – as I suggested back on 31st May – the sale of Stobart Air and Carlisle Lake District Airport to Ettyl Limited has collapsed. Worse still, support for Stobart Air has been terminated, Stobart Air has terminated its franchise agreement with Aer Lingus, will cease trading and liquidators are to be appointed. The pain for Esken does not end there, but later on it confirmed talks to potentially sell 30% of London Southend airport. But that’s not the whole story……

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MDZ
MDZ
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Mediazest – shares rocket: have the BBMs completely lost it?

AIM-listed Mediazest (MDZ) caught my eye this morning: it is currently top of ADVFN’s gainers leaderboard today with a rise of a very impressive 140%, with a share price of just 0.12p – having been as high as 0.175p. There was news of new business wins due to bring in £350,000 of revenues but as we know, revenues are one thing and cash is quite another. But apart from that, it looks like a forest of Red Flags is upon it: have the Bulletin Board Morons completely lost the plot? TW Note did they ever have it?

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Inspirit – Pressure builds as a non-entity of a statement is released. SELL!!!

At 1.25pm AIM-listed POS Inspirit Energy (INSP) issued a statement relating to fellow AIM-listed Octagonal, where its CEO and Chairman John Gunn, and Finance Director Nilesh Jagatia also reside in the same roles,  whose subsidiary,  Global Investment Strategy is Inspirit’s sole broker – the very same subsidiary which has been charged by the SEC – alongside John Gunn, for aiding and abetting – with violating US broker-dealer registration provisions of the Securities Exchange Act 1934. Given that Jagatia and Gunn make up two thirds of the board of Inspirit, there clearly is a problem here!

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Filthy Forty Walcom – urgent statement needed ASAP: is it bust?

Last Monday ShareProphets AIM-China Filthy Forty play Walcom (WALG) offered up yet another statement saying that again its CEO/CFO Mr Francis Chi had failed to offer up a bailout loan, that he still intended to do so (as he has since January!) and that in the absence of further funding it would be a one-way trip to the corporate undertakers last Friday, June 19. There was no statement on Friday, and here we are on Monday and there still has been no statement. Is Walcom bust or not? We need a statement.

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Red Flags at Night: Conroy Gold and Natural Resources – the (rubber?) cheque is still in the post (honest guv’)

Back on 2 April, AIM-listed jam-next-century gold play (apparently) Conroy Gold and Natural Resources (CGNR) finally got around to fessing up that its much celebrated fundraise six weeks previously has seen a shortfall in that £188,000 of the £302,500 supposedly raised (ie well over half) had not arrived. The whole episode stank of AIM Rules breaches and a letter duly landed on Oxymoron-in-chief Marcus Stuttard’s desk. We were told a further update would follow as soon as possible and in classic Red Flags at Night fashion, yesterday at 4.51pm on a Friday evening – no-one-is-watching o’clock – the update duly arrived. Now if all the money had arrived, I reckon we would have found out at a more normal time like 7am……

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Vast – Interims at 3pm on a Friday, no-one-is-watching o’clock? Uh-Oh…..where’s the cash?

AIM-listed Vast Resources (VAST), a company about which I have been a perennial bear and issued a sell call in the run-up to Christmas when the debt funding didn’t appear, has released interims to 31 October this afternoon. At 3pm on a Friday! What horrors do we find?

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Catenae Innovation – the fat lady is about to go on stage: Keep selling - was it trading while insolvent?

Following its rather smelly announcement after hours at no-one-is-watching o’clock on December 20 which offered up nice Christmas presents to shareholders in the form of a profit warning and a statement that its financial position was weak, AIM-listed Catenae Innovation (CTEA) followed up yesterday at 12.23pm (lunchtime on a Friday, no-one-is-watching o’clock) with a further announcement that it still not agreed the hoped-for £100,000 bailout and that absent new funding it will be a trip to the corporate undertakers. Nigel did warn you but there is a bigger question....

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Cash Hungry Neil Woodford Dog Verseon releases interims – when will this mutt be taken out and shot?

AIM-listed Woodford dog and purveyor of revolutionary computer generated drugs Verseon (VERS) released its interims results yesterday – deadline day. A look at the balance sheet says it all as the company bleats that its Magic Money Tree (ie Neil-Knows-Best Woodford) is barren. It has no income, is piled up with debt and nobody wants to invest.

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XSG
XSG
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Neil Woodford dog Xeros Interims – a "disruptive" wash-out

Neil Woodford dog, AIM-listed revolutionary washing machine purveyor Xeros Technology (XSG) has released its interim results this morning and the news is grim: revenues of £1.6 million led to a pre-tax loss of £9 million. Ouch.

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Filthy Forty: Walcom warns of potential liquidation – time to get the Ouzo on ice, more China shame for AIM

ShareProphets AIM-China Filthy Forty play and member of my slam-dunk sells for 2019 Walcom (WALG) has warned again about its financial position – but this time the warning is more direct than before. If you hold shares, now really is just about the last chance to get out for suspension and a trip to the corporate undertakers could come pretty much any time. The company tells us it expects to have enough cash to mid-October, but "expects" and certainty are two different things...

Dead-Donkey
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Red Flags at Night (with bells on): Neil Woodfjord Oslobors Dog Thin Film (yet again!)

This really is taking the piss. Having released its FY18 results at one o’clock in the morning, a 6pm on a Friday release covering another major round of redundancies and news of share dumping by Neil Woodford at 9pm on a Wednesday, now Oslobors-listed Thin Film (THIN) has offered up more news, this time at half past midnight on a Saturday and it once again features Neil Woodford, who has again been selling shares. To err once might be seen as forgivable, but four after-hours releases of bad news, two of them in the middle of the night over the past (less than) four months? It is appalling behaviour for a listed company - a serial offender in the issuing of bad news at no-one-is-watching o'clock.

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Collapsing-Reactor

Redemptions Watch: bad news for Neil Woodford as redemptions spike higher at Income Focus

The news blackout at Woodford cash-guzzling dog Verseon (VERS) continues, but at least the shares did not slip any further yesterday. That is more than can be said for fellow kennel cohabiter Xeros (XSG) as the fine disruptor of washing machines tries to get £10 million of new money to avoid the free taxi ride to the corporate undertakers.

Filthy Forty Walcom (and a slam-dunk sell for 2019): yet another profit warning - The Fat Lady is warming up…..

Oh dear, oh dear – an intra-day Company Update….not a good sign. ShareProphets AIM-China Filthy Forty play Walcom (WALG) – one of a handful left – has updated the market on its position. We learn that African Swine Fever continues to affect most of the company’s domestic customers (so another profit warning), its former best customer still hasn’t paid up and it is unclear whether it will, the company has only funds to see it through to the middle of next month and absent alternative funding it will be a trip to the corporate undertakers. Apart from that, everything is fine!

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Neil Woodford Dog Verseon joins his 90% club. Is it insolvent and when is the crash landing due?

Neil Woodford is in the press for all sorts of things – bashing by the Daily Mail (another one today), his partner selling his house -The Times which also tells us that he is moving out of biotechs. And on that score, I see that AIM-listed Verseon (VERS) has more than halved in price over the last few days. We’ve not had a statement from the company, although I fancy it is running out of cash quickly, but it seems that someone was very keen to get out last Thursday.

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RM2
RM2
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Woodford Dog RM2 – catastrophe as Neil is snookered

After bailing out the ridiculous AIM-listed RM2 (RM2) over and over again with other people’s money before his own supply ran dry, Neil Woodford finds himself completely snookered this morning as RM2 has announced a bailout fundraising without Woodford and he faces the choice now of being diluted to oblivion or watching it go bust. Of course, readers of this fine website have been warned and warned and warned. But Neil always knew best.

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Dead-Donkey
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Red Flags at Night from the Woodfjord Kennel

I suppose releasing bad news t 6pm on a Friday is a bit of an improvement from releasing calamitous FY numbers at eleven minutes past one in the morning (yes, really!) but it is still very poor form from Woodford Dog Thin Film on the Norwegian OslosBors (THIN). And the news was indeed grim.

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Collapsing-Reactor
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Woodfjord Dog Thin Film cancels fundraise – when will the fat lady sing?

Neil Woodford’s last few remaining pennies invested into Oslobors-listed Thin Film appear to be heading for money heaven: this morning the company cancelled a fundraise announced earlier this week as it seems that nobody was interested. With the last remnants of its cash running out, a trip to the corporate undertakers seems odds-on.

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