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Keyword results: discounted placing

PREMIUM CONTENT

AMTE Power – “pleased to announce” General Meeting resolutions passed. How ‘pleasing’ is this fundraising news?…

AMTE Power (AMTE) “is pleased to announce that, at the General Meeting held earlier today, all resolutions… were duly passed. Admission of the conditional placing shares to trading on AIM is therefore expected to occur on 26 September 2023”. How ‘pleasing’ is this?
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PREMIUM CONTENT

AMTE Power – issues a big ‘up your’s’ to investors with a “pleased to announce” placing…at a more than 81% discount! Hopefully our various warnings heeded!

Previously writing on company which describes itself as “a leading developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets”, in July with the shares down to 4.25p I noted it’s good luck with a sustainable financial solution within the next few business days and it remains that hopefully our prior warnings were heeded, bargepole/sell. The shares had since risen to above 9p as financial hopes were raised and now the company “is pleased to announce” that it has conditionally placed new shares to raise approximately £2.1 million and is proposing to raise up to a further £0.25 million in a “retail offer” via the Bookbuild platform. So what of a share price currently down to 2.15p?!

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CNC
CNC
PREMIUM CONTENT

Concurrent Technologies – conditional acquisition agreement, how significantly will it ‘progress the company’s strategic ambitions’?

Describing itself as “a world leading specialist in the design and manufacture of high-end embedded computer solutions for critical applications”, Concurrent Technologies (CNC) is “pleased to announce” a conditional $3.375 million acquisition agreement, including $1.5 million in shares, which it believes “will progress the company's strategic ambitions in the Systems market, a market comprising of computer systems designed to operate in harsh and demanding environments typically including military, aerospace and industrial uses, and anticipated to be valued at c.US$6.9 billion by 2033”. Hmmm, ramptastic?
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ARB
ARB
PREMIUM CONTENT

Argo Blockchain – as predicted discounted placing, clearly far less raised than had been hoped

In the first half of 2022 Argo Blockchain (ARB) burned cash despite the bitcoin price averaging $37,000. With the bitcoin price higher than it was but nowhere near $37,000 let alone a level that would ensure cash neutrality, the company’s shares were ramped up to 17p on the basis of some low grade pumping. After the pump…
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QED
QED

Quadrise – “pleased to announce the successful results of the placing”. How ‘successful’ is it really though?

Emulsion technology, fuels and biofuels company Quadrise (QED) states that it “is pleased to announce the successful results of the placing… and to confirm the launch of the open offer”. Its “pleased” meaning that this is good news?
DGI
DGI
PREMIUM CONTENT

DG Innovate – another fundraise it states is ‘primarily for the company's commercialisation strategy’. Is it fooling itself or trying to fool everyone else?

DG Innovate (DGI) states that it “is pleased to announce that the company and Peterhouse Capital Limited have conditionally raised gross proceeds of £517,000… at 0.05 pence per share, subject to the passing of capital reorganisation resolutions at the company's Annual General Meeting… The funds raised will primarily be used to fund the company's ongoing commercialisation strategy for its Enhanced Drive Technology and Enhanced Battery Technology”. How ‘pleasing’ then is this?
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FA
FA
PREMIUM CONTENT

FireAngel – desperate results, management change and fundraising... and still uncertainty?!

Previously writing on home safety products developer and supplier FireAngel Safety Technology Group (FA.), in April with the shares heading down towards 8p I questioned how much of an achievement would just a slightly improved current year performance really be and concluded to avoid/sell. The group has now announced results, “Directorate Changes” and an “Open Offer and Placing”.

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Mirriad Advertising – “pleased to announce” equity raise result…as it bails it out. But not for long!

Previously writing on company which describes itself as a “leading in-content advertising” business Mirriad Advertising (MIRI), last month with the shares up to 3.8p I wrote “collaborates with Microsoft” ramptastic desperation as funding crisis further nears”. Quelle surprise – there’s now discounted equity raise news.

PREMIUM CONTENT

David Beckham’s Guild ESports – did it break Exchange Rules (again) as it loses key sponsor ( but gains another) as cash crisis weeks away?

Not for the first time I sit pondering whether cash strapped Guild Esports (GILD) – which has proved such a money spinner for David Beckham and such a disaster for mug punters – is playing fast and loose with stockmarket rules that you have to announce price sensitive information as soon as possible. Let me explain.
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PRD
PRD
PREMIUM CONTENT

Predator Oil & Gas discounted placing as Novum finds a loophole to circumvent prospectus rules: swivel FCA!!!!

I pointed out a few weeks ago that Predator Oil & Gas (PRD) run by the troll Lonny Baumgardener and the share dealing just ahead of a placing whizz Paul Griffiths was pumping its shares ahead of an inevitable discounted bailout placing. Call me Mystic fecking Meg. So today Predator has raised £2 million at just 5.5p. But this is not just a straight placing. It stinks. With a hat tip to Evil Banksta let me explain.
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PREMIUM CONTENT

Hercules Site Services – emphasises “support from new and existing investors”, why the placing discount that dare not speak its name then?

Describing itself as “a leading technology enabled labour supply company for the UK infrastructure sector”, Hercules Site Services (HERC) states that it “has experienced a strong start to trading in FY 2023. With this in mind, the net proceeds of the placing will be used to provide working capital to support the continued organic growth of the company's Labour Supply division” and boasts that “the placing received support from new and existing investors, including two of the company's largest shareholders”. So a good price then in relation to a prior close 72p share price?
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IES
IES
PREMIUM CONTENT

Invinity Energy Systems – how ‘pleasing’ really is the (discounted, natch) equity raise?

Previously writing on company which describes itself as “a leading global manufacturer of utility-grade energy storage” Invinity Energy Systems (IES) last month with the shares falling towards 40p I noted cash burn concerns and now, quelle surprise, the company “is pleased to announce the results of the placing”. How ‘pleasing’ is it?

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PREMIUM CONTENT

Chill Brands – shares sliding, 2+2 = 4 ( that is to say a bailout discounted placing)

Shares in Chill Brands (CHLL), pumped by a spoof-tastic announcement the other day, are now sliding fast. 2+2 =4. The first 2 is that attempted ramping.
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GDR
GDR
PREMIUM CONTENT

Genedrive CEO engages in sordid BB ramping - bailout discounted placing ahoy

David Budd the, CEO of Genedrive plc (GDR) has been out ramping this week with an RNS that one of its devices has received a preliminarily recommendation for use in the NHS. Not only that but he’s been posting over on the LSE asylum to groom the posters over there:
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CMH
CMH

Chamberlin – after ‘Corporate Update attempted ramptastic’, “placing and subscription” (quelle surprise!)

Previously writing on castings and engineering company Chamberlin (CMH), last month with the shares up to 3.95p I noted “Corporate Update”, attempted ramptastic?… And now a “pleased to announce” equity raise – quelle surprise!

Ethernity Networks – its prior announcement indeed attempted ramptastic!, another discounted placing

Ethernity Networks (ENET) has issued an announcement including that it “anticipates that revenues for 2022 will be not less than $2.9 million, an increase of 10%... believe that revenues of $9 million for 2023 are achievable”. So what of a current share price fall from 9.5p towards 7p?
VRS
VRS
PREMIUM CONTENT

Versarien Loan Rescheduled: another £5m of Tory sleaze vicar?

Make no mistake, today’s news from Versarien (VRS) is a £5 million dollop of sleaze from the Tories. It also suggests that the bailout discounted placing is coming soon. To what seems wholly corrupt, first.
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OSI
OSI

Osirium Technologies – hopefully my 6 warnings since early July heeded, massively discounted bailout (for now) equity raise

Osirium Technologies (OSI) states that it “is pleased to announce that it has conditionally raised £1.53 million before expenses… at a price of 2 pence per share”. And the prior closing share price?...4p! You can’t say you weren’t warned HERE (at 5.75p per share), HERE (at 5.25p per share), HERE (at 6p per share), HERE (at 6.5p per share), HERE (at 6.25p per share) and HERE (at 6.25p per share)! So what now with the shares currently down to 2.55p, a current (pre-placing) £1.2 million market cap!?

Northcoders – “pleased to announce” placing for “growth strategy”?

Provider of training programmes for software coding Northcoders Group (CODE) states that it “is pleased to announce that… the company has raised approximately £2.1 million (before expenses). Pursuant to the placing, 694,444 new ordinary shares have been conditionally placed at a placing price of 300 pence per share”. How ‘pleasing’ is this?

Malvern International – placing to redeem loan notes…and what of the other liabilities?

Learning and skills development programmes company Malvern International (MLVN) has announced a placing “principally to redeem the final tranche of company's outstanding loan notes” and that “the holder has agreed that the outstanding principal of the loan notes may be redeemed at a five per cent. discount. In addition, the holder has agreed to sell all the ordinary shares he holds in the ordinary share capital of the company, amounting to 917,600 ordinary shares at the placing price”. So what of this currently helping the shares more than 15% higher to 9.5p?

PREMIUM CONTENT

BREAKING: Vast Resources bailout funding to stave off insolvency but warns will need another as MONSTER investor deception revealed AGAIN

On 24 October Vast Resources (VAST) held a GM where shareholders voted to allow it to issue more shares. But fear not, the chairman stated “ It should be stressed that there is no commitment at this time to issue the new equity share capital for which authority is sought, and it remains the policy of the Directors to minimise such issues.” That was deceptive as the company HAD to raise money this month to avoid going bust. Today, as I predicted, came the deeply discounted placing.

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PREMIUM CONTENT

Groundhog Day: More cash delays at Vast so is it a bailout placing within 10 days or game over?

Oh dear, oh dear. This looks awfully like 2021 all over again but can Vast Resources (VAST) manage to side step a rapidly advancing Fat Lady for a second year on the trot. In 2021 auditors refused to sign off accounts for the year to April 30 2021 as Vast was deemed insolvent. Only a massively discounted placing arranged at the last minute avoided a share suspension as accounts must be out by October 31. This year things look worse.

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PREMIUM CONTENT

BREAKING: Tern raising up to £2 million including Primary Bid Offer - DON'T DO IT!

Nigel Somerville has warned you often enough that sub scale investment in cash guzzling crap company Tern (TERN) was running on vapours. It did not have enough cash to fund its bloated PLC costs let alone to feed the gaggle of perennially loss making companies in which it has invested. So today's after hours RNS will not shock you.

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SCE
SCE
PREMIUM CONTENT

Surface Transforms – announces another discounted equity raise. For further capacity needs?

Manufacturer of carbon fibre reinforced ceramic automotive brake discs Surface Transforms (SCE) “is pleased to announce that… the company has conditionally raised gross proceeds of £16.0 million… at the issue price of 40 pence per ordinary share”. How pleasing is this?

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LoopUp – following “very significant” new contract and I warning on the overall financial profile still, now a discounted capital raising

Writing on LoopUp Group (LOOP) early this month with the shares up to 9p I concluded the current financial profile still suggests at this juncture avoid / sell... And at 6:18pm last night a “Proposed Capital Raising” announcement.

CCS
CCS

Crossword Cybersecurity – after previously stating it was “strengthening its working capital… on the back of a positive H1”, a discounted placing (natch!)

Previously writing on Crossword Cybersecurity (CCS), in July with the shares at 29p I questioned “a positive H1” and stated that I can see why it could be desperate for some more cash. Today it “is pleased to announce that it has completed an oversubscribed fundraising by Hybridan LLP of approximately £3.6 million (gross)”. How pleased should it be though?

PREMIUM CONTENT

Wishbone Gold – argues significant copper and gold grades, but not ramping about the discounted placing Big Dave?

We’ve noted recent ramptastic proclamations on Wishbone Gold (WSBN) – and it now also emphasises “significant copper and gold grades from drilling in Queensland, Australia”. However, that comes with a discounted placing.

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PREMIUM CONTENT

Cenkos & Bidstack: Dishonesty or incompetence?

Broker Cenkos released a note on Bidstack (BIDS) on Tuesday which is terribly bullish and enthusiastic and appears to have encouraged the morons.  But the research is either dishonest or incompetent. I suggest the former.

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PREMIUM CONTENT

Bidstack: how's the discounted placing going, fellas?

Who claims that Bidstack (BIDS) will do a placing? Not that failed fund manager who works in a pizza store, when he isn't fleeing justice in Greece?  On this occasion, it is not just me, but the company itself. 

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PREMIUM CONTENT

Kefi Gold & Copper – another placing, the shares are still cheap but Harry Adams is a jerk

Kefi Gold & Copper (KEFI) states that it “is pleased to announce an oversubscribed fundraising to raise gross cash proceeds of £8.0 million… at a price of 0.8 pence per ordinary share”, with also a warrant per two placing shares at an exercise price of 1.6p exercisable for two years. But then it admits “the placing price represents a discount of 25% against the ten-day VWAP to 19 April”. So the stock was handed out cheaply so making the placing oversubscribed. Well done 'arry bloody Adams and team aren't you clever boys?

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React Group – massively discounted placing… after emphasising a “prestigious new account” just on Monday!

Writing on cleaning, hygiene and decontamination group REACT (REAT) in October with the shares falling below 2p, I concluded cautiously including noting net cash of £0.567 million comparing to £0.771 million at the half-year. It now reports a “proposed placing to raise £5.5 million underpins… strategy and in particular, provides the certainty of funding essential to acquire the opportunity we refer to as Target A”.

MOS
MOS

Mobile Streams – argues “restricting dilution to existing shareholders”. Er, what about the placing and its price then?

Mobile Streams (MOS) CEO Mark Epstein would “like to thank shareholders for their fantastic support in both the placing and broker option… have restricted the broker option to approximately half the demand to strike a balance between satisfying shareholder demand and restricting dilution to existing shareholders”. What’s the full story?…

MOS
MOS

Mobile Streams – just two weeks after revenue ‘delight’ pump...

At the start of this month Mobile Streams (MOS) was “delighted to announce its monthly revenue now exceeds $150,000 per month across all channels. This is an increase of 87.5% in monthly revenue since the company’s update on 1 December 2021”. However, revenue is, of course, vanity and today “Placing and Proposed partnership”…

SRT
SRT

SRT Marine Systems – placing “to provide working capital”, why the massive discount then?...

Previously writing on SRT Marine Systems (SRT), in January with the shares up to 47p I noted interims having shown a more than £3 million loss on revenue of £4.7 million, with a swing to a £1.4 million net current liabilities position and also £1.7 million of non-current liabilities and that I retained caution HERE. Now the company’s “pleased to announce… concluded its Bookbuild process, successfully raising gross proceeds of £4.9 million through the placing”. So what about a more than 11% share price fall to 34.25p in response?…

Verici Dx – “fundraise to… continue the accelerated progress”, or to avert cash crunch ahoy?...

Verici Dx (VRCI), a developer of clinical diagnostics for organ transplant, has announced a placing of “at least £10.0 million” at 35p per share, stating it “intends to use the net proceeds of the fundraise to… continue the accelerated progress the company has experienced to date”. So what of currently a 4% share price fall in response?…

OSI
OSI

Osirium Technologies – hopefully warnings here heeded as shares crash on bailout funding

Osirium Technologies (OSI), describing itself as “a leading vendor of cloud-based cybersecurity software, is pleased to announce that it has conditionally raised £1 million before expenses”… Sounds ok for it, especially as I previously concluded in November that, with forecast losses and the balance sheet position, avoid / sell. What’s the detail though?…

PREMIUM CONTENT

Eurasia sets a trend - now Angus Energy goes with the bid and place switch, this could catch on in lawless London

During the time that it has been “up for sale” whether in or out of a Formal Sales Process (FSP), Eurasia Mining has managed to get three bailout placings away at prices it could not have dreamed of without the  – so far unjustified – bid speculation it, itself, has created. What a wheeze! It seems that the old Eurasia FSP and place switch is catching on and naturally London’s regulators see nothing wrong in this. Which brings us to Angus Energy (ANGS) run by lucky Lord Lucan.  Not so lucky his shareholders.

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CMH
CMH
PREMIUM CONTENT

Chamberlin – placing it states it “is pleased to announce”, is it taking the piss?!

Foundry and engineering company Chamberlin (CMH“is pleased to announce that it has conditionally raised £1.8 million… at a placing price of 5 pence per share with institutional and other investors”… and the shares have currently responded down by more than 27%. So what’s going on?…

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Bear
PREMIUM CONTENT

Supply@Me and Chill Brands. Leaving it late in the day.

Two dogs, covered extensively on Shareprophets.com  where i am short are leaving it rather late to come up with the goods. Chill Brands Group (CHLL), formerly Zoetic, has until Tuesday to publish its results to March 2021 (and that’s after a Covid extension) and Supply@Me Capital (SYME) has stated that a trading update is “expected” this month.

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CPX
CPX

CAP-XX – ‘pleased to announce successful shares sale’. That’s c(r)ap-xx!

Self-styled “a world leader in the design and manufacture of supercapacitors and energy management systems” CAP-XX (CPX) has announced a “significantly oversubscribed” bookbuild and “is pleased to announce the successful sale of 10,498,700 Sale Shares”. How pleasing is it?…

Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: If Ron Pilbeam has not broken market rules either I'm a banana or the rulebook is a joke (or both)

Is the sound okay? The arrival of the Mrs and Jayarani means a change of recording location. I start with Peter Brailey’s Predator Oil & Gas (PRD) expose. If the FCA does not come down on director Ron Pilbeam like a ton of bricks we might as well all give up. Then I look at Vast Resources (VAST) – a total bargepole stock where I sniff a deeply discounted placing  – then challenge you on two counts regarding Online Blockchain (OBC) before considering Argo Blockchain (ARB) its strangely worded RNS today and whether it will still be solvent on St Ledger’s day. 

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DIS
DIS

Distil – argues a ‘delighted to announce agreement and partnership’, so why share price decline?...

Previously writing on drinks brands owner Distil (DIS), last week with the shares at 2.4p I concluded that the valuation looked high enough until some further sustained revenue and bottom-line impact is delivered. Today the company is “delighted to announce our agreement and partnership with Ardgowan which we see as a fantastic opportunity to add significant growth to the business in both the short and long term” and the shares have responded…further lower to 2.15p! Why?…

essensys – fundraise ‘to accelerate growth strategy and product development’. Good news?

Self-styled “leading global provider of mission critical software-as-a-service platforms and on-demand cloud services to the flexible workspace industry” essensys (ESYS“is pleased to announce… an aggregate of 10,984,552 primary placing shares have been successfully placed by Singer Capital Markets Securities Limited and Berenberg at an offer price of 285 pence per placing share to raise gross proceeds for the company of approximately £31.3 million”. Good news?…

CCZ
CCZ

Castillo Copper – “delighted” to be able to accelerate projects. How delighted should it be?

Castillo Copper (CCZ“is delighted to announce that it has successfully raised A$11.7m (£6.4m) before costs”. How delighted should it be?…

ITX
ITX

Itaconix – just how soon did this Woodford dog need balance sheet improvement?

With its shares having closed on Monday at above 16p, on Tuesday morning self-styled “a leading innovator in sustainable plant-based polymers used as essential ingredients in everyday consumer products”, AIM-listed Itaconix (ITX) was “pleased to provide an update on its commercial progress and current trading”. Today it is “pleased to announce a placement” (natch!)…

Brickability – acquisition “a significant value-add”… so significant insiders selling?!

Construction materials distributor Brickability (BRCK“is pleased to announce the conditional acquisition of Taylor Maxwell”, emphasising this timber, bricks, cladding, masonry and other products supplier “marks a significant expansion in the range of solutions we can deliver for our growing client base and represents a significant value-add for our shareholders”. Though also “certain selling shareholders have also conditionally raised a further £38 million through the sale of 40,000,000 existing ordinary shares”. Hmmm…

ZOO
ZOO

Zoo Digital – “confirmation of successful fundraising”. Just how successful is it?...

“Confirmation of successful fundraising of £7.4m”-titled announcement from self-styled “world-leading, technology-enabled localisation and media services” group Zoo Digital (ZOO). Just how successful is the fundraising?…

SJH
SJH
PREMIUM CONTENT

St James House - disastrous interims part 2 now it's death spiral ahoy

As well as disastrous, red ink soaked finals, St James House (SJH) published its interims, to July 31 2020, today and revenue was up an impressive 51% on comparative interims to £641,000; however, administrative expenses of £874,000 resulted in an operating loss of £567,000. St James House (SJH) was only able to report a profit of £192,000 due to the profit of £759,000 for disposal of Market Access Ops Ltd for consideration of £1.  As I highlighted in my note of February 2020, I struggle to understand why Mr John Botros would buy a loss-making company for £1 as it came with net liabilities of £759,000.

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Hollywood Bowl – less than 3 months after emphasising “strong balance sheet”, discounted placing?...

The 14th December 2020-announced results from ten-pin bowling group Hollywood Bowl (BOWL) emphasised “strong balance sheet… liquidity of £31.8m” and included that “the directors are satisfied that the group has adequate resources to continue in operation for the foreseeable future, a period of at least 12 months from the date of this report”. It now announces “successful completion of the placing… at a price of 230 pence per placing share, raising gross proceeds of approximately £30.0 million”. Hmmm…

KMK
KMK

Kromek – “pleased to announce” equity raise for ‘growth opportunities’. Really?...

Kromek (KMK“is pleased to announce a conditional firm placing, directors’ subscription and open offer to raise up to £13.0 million before expenses”. Should shareholders be pleased though?…

PREMIUM CONTENT

Live Company – emphasises moves to be “very excited” about… so a competitive “associated fund raise” price, surely?...

Brick model events and shows group Live Company (LVCG) Chairman David Ciclitira is “very excited at the chance of adding significant revenues to the group from our new division, which will be achieved with minimal addition to our central overheads. Discussions with our global partners with regards to the expansion of this new division have been very positive and we look forward to providing further information in due course”. The shares have currently responded to 5.25p… er 30% lower!…

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PREMIUM CONTENT

Ironveld – having argued asset “potential value many times in excess of the company's market capitalisation”… massively discounted placing & worse!...

Late March-announced results from Ironveld (IRON) included “your board remains confident that the company’s asset, containing 27 million tons of HPI, together with significant Vanadium and Titanium content, continues to demonstrate robust economics and has a potential value many times in excess of the company’s market capitalisation and balance sheet carrying value” – the market capitalisation then £2.6 million and stated net assets £21.7 million. Today a fundraising, from a £4.3 million market capitalisation with the shares having last closed at 0.65p. Surely a price competitive against that then? – and, given the stated potential value, even that unnecessarily dilutive?…

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FLX
FLX

Falanx – “successful fundraising” ‘thanks and now big screw you’ to the smaller investor...

“Confirmation of successful fundraising” announcement from Falanx Group (FLX). With the shares having reached 1.9p last month and last closed at 1.175p, what are the details of this “successful fundraising”?…

Biome Technologies – interims & placing shame from management & broker Allenby...

Previously writing on bioplastics and radio frequency technology company Biome Technologies (BIOM), I concluded with the shares around 160p that the RF division position and overall cash burn continued to deter, but the bioplastics momentum continued to see it remain on the watchlist. The shares last closed at 240p, but are currently back down around 160p…

TTG
TTG

TT Electronics – after the covid bandwagon...

Last week I wrote on TT Electronics (TTG“Ground-breaking COVID-19 screening device launched” announcement, more Corona madness? as the shares soared above 260p. Now the company announces that “it has agreed to acquire Torotel… is expected to be part-funded by a separately announced equity placing”…

PREMIUM CONTENT

7digital Group – discounted placing, argues “secure the future of 7digital”. Does it?...

Self-styled “global leader in B2B end-to-end digital music solutions”, 7digital Group (7DIG) has announced a “oversubscribed placing and subscription… raised £6.0 million (gross)… to support immediate and medium term commercial growth opportunities, in particular within home fitness, artist monetisation, and social media”…

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IME
IME

Immedia Group – there weren’t much “cash reserves, and plans in place to manage these resources” then!...

Provider of audio visual content and services Immedia Group (IME“announces that it has conditionally raised gross proceeds of £1.1 million… at £0.10 per share”. This following a June update including “we have seen more UK retail businesses re-open, and this will allow Immedia to rebuild contracted revenues from its retail customers as its services are taken up again” and a prior update in April I previously updated on…

EUZ
EUZ
PREMIUM CONTENT

Europa Metals – as Gary Newman recently warned… discounted placing screwing...

Shares in Europa Metals (EUZ) are currently at 13.5p, down more than 18% on the day – and you were warned on this website that this was coming by Gary Newman…

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Pelatro – a “pleased to announce” fundraising, why the discount?...

“Pelatro Plc (AIM: PTRO), the telecom Customer Engagement software specialist, is pleased to announce a Placing and Subscription to raise £2.1 million (before expenses)”… and the shares have currently responded more than 10% lower…

Forterra – less than a month after arguing (and I questioning) “well positioned”… discounted placing...

Forterra (FORT) “announces the successful completion of the non-pre-emptive placing… raising gross proceeds of approximately £55 million… at a price of 195 pence per placing share”… but less than a month ago it argued, with the shares above 200p, “well positioned to take advantage of the attractive long-term market fundamentals in order to continue delivering sustainable shareholder value”!...

Live Company Group – now “in a strong position to emerge from lockdown on the front foot”?

Earlier this week with the shares at 13p, I concluded on brick model events and shows group Live Company (LVCG) with “enquiries” far from meaningfully cash-generative orders and the financial situation, and with the market cap currently £10.5 million, my stance remains unchanged… avoid / sell. Now “Placing and Partial Loan Conversion” – and the shares currently further lower at 10.5p...

ITX
ITX

Itaconix – I having previously warned, including of funding concerns...

Previously writing on Itaconix (ITX), last month I noted with the shares at 1.55p Woodford dog updates including “increasing demand”, BUT... noting the context of “revenues for the first four months of 2020… an increase of 42% over the same period in 2019”, to… $0.6 million! and funding still only possibly until the end of August and concluding avoid / sell. Now…

ANG
ANG

Angling Direct – a “delighted with the strong support” placing you say?!...

Having been trying to emphasise “positive trends… namely encouraging levels of trade across the company's webstores in both the UK and international markets”, now from Angling Direct (ANG) a “delighted with the strong support… raised gross proceeds of £5.50 million through a placing”...

PHE
PHE
PREMIUM CONTENT

Powerhouse Energy – Bonkers valuation or quadruple bonkers?

I reviewed Powerhouse Energy (PHE) just after Christmas and concluded the £15 million market Cap was bonkers. The share price has motored on regardless and now the company sits with a £58 million valuation, and that’s before the dilution from the Waste2Tricty deal. Is this a clear sign of PI driven investment madness?

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PREMIUM CONTENT

Bidstack AGM statement – utterly deceptive, how on earth did Nomad SPARK sign off on this?

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.

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KEFI Minerals – on the discounted placing...

KEFI Minerals (KEFI) “has conditionally raised £3.7 million, before expenses, through a placing… at an issue price of 0.65 pence per ordinary share”, with Chairman Harry Adams arguing it “stands KEFI in promising financial shape and highlights the upside offered by its asset base”. But haven’t we heard similar before?...

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Everyman Media Group – after three weeks ago “significant headroom in its loan facility”…

A 17th March “COVID-19 update” from cinema group Everyman Media (EMAN) stated “the group has significant headroom in its loan facility and is in dialogue with its lenders on covenants to maintain liquidity through this period of uncertainty”. Now “the company has conditionally placed 17,500,000 ordinary shares at the placing price of 100 pence per ordinary share… together with our existing funding arrangements, this placing significantly strengthens our balance sheet providing further working capital and allows us to pick up where we left off”. Hmmm...

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Ince Group – a private investor screwing… and it’s “pleased to announce”!

“The Ince Group plc (AIM: INCE), the international legal and professional services company, is pleased to announce a proposed placing by way of an accelerated bookbuild to raise a minimum of £12 million (before expenses)… In particular, the group wishes to continue with its programme of partner recruitment, especially in the overseas offices to bolster and enhance their existing practices. Opportunities to make lateral and team hires are coming to the group”. So growth capital then – and the shares last closing at 89p, so with 37,326,730 in issue, a £33.2 million market cap. Not too bad a fundraising price then?...

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PXS
PXS

Provexis – keep the lights on placing… how much longer to prove “a clearly differentiated position”?

“Provexis (PXS), the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, is pleased to announce it has raised a gross £301,333 via a placing”. Hmmm – sounds like ‘keep the lights on’ money…

XSG
XSG
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Xeros Technology – this Neil Woodford dog completes fundraising… for less than it wanted & with pitiful director participation…

Xeros Technology (XSG) has updated commencing; “Following completion today of the placing and open offer announced on 31 October 2019 in which certain members of the board participated at a price of 1p per ordinary share, the company provides the following update regarding the holdings of the directors:” – and the shares have currently responded higher, back above 1p…

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Inspirit Energy – last week the pump… and now (natch, & as previously warned by Nigel Somerville)…

In August Nigel Somerville wrote on Inspirit Energy (INSP) including noting a required, desperate (and so deeply discounted) placing. Last week it soared following an “Update on product application and the mCHP Boiler”. Today, natch, “Placing”

KRM
KRM

KRM22 – “placing… to provide the company with additional working capital”... Or not?...

“KRM22 plc (AIM: KRM.L), the technology and software investment company, is pleased to announce that it has conditionally raised gross proceeds of approximately £1.0 million through a placing of 1,895,765 new ordinary shares… at a price of 52 pence per ordinary share”. Hmmm – having only joined AIM at 100p per share little more than 18 months ago and the shares last closing at 54.5p, it really “pleased to announce” this?!...

Autins Group – “pleased to confirm” & “delighted to close”… significantly discounted placing. Wonder why?...

Previously writing on Autins Group (AUTG), in June I noted deteriorating finances and concluded bargepole / sell. The shares have recently been around the 28p of then, but now placing news…

Immotion – from July 2018 IPO “to become a leading participant in the 'Out of Home' VR experience market” to July 2019…

Immotion (IMMO) has announced “following the success of its recent VR installations into a range of high quality partners, that it has decided to focus its strategy predominantly on the roll out of its Partnership Model into high footfall locations. The visibility of higher margins and recurring revenues delivered from this model is, the directors believe, the best strategy for the group and its shareholders. To support this strategy, the company is carrying out a fundraising”

WSG
WSG

Westminster Group – following ramptastic announcements earlier this month… surprise, surprise (you were warned)…

Previously writing on Westminster Group (WSG), I concluded last week where’s the cash for that coming from? The shares are currently down to below 13p, but, natch, still avoid / sell. Now the company “is pleased to announce a placing… to raise £1million before expenses together with the issue of warrants”. Surprise, surprise…

Toople – from less than 2 weeks ago “cash… sufficient to allow business to continue with the growth plan” to…

Writing on provider of telecom services to UK SMEs Toople (TOOP) less than two weeks ago, I questioned “cash… sufficient to allow business to continue with the growth plan”. Really?. Now an announcement; “Repayment of Debt and Private Placing”

AST
AST

Ascent Resources – and there’s the placing as it exploits permit ‘delight’

Ascent Resources (AST) “is pleased to announce that it has completed an oversubscribed placing of 214,285,714 ordinary shares… with a small number of institutional investors. The placing was conducted at a price of 0.35 pence per share”Particular credit to Evil Banksta – and the company “pleased to announce”, with the price a 30% discount to the prior close?! (“oversubscribed” not exactly an achievement then!)...

Starcom – placing “to pursue a more aggressive marketing strategy”… or not?

Provider of wireless solutions for remote tracking, monitoring and protection, Starcom (STAR) “is pleased to announce that the company has conditionally raised £637,500… at a price of 1.25 pence per subscription share”. The market is not pleased – the shares currently more than 20% lower in response…

Tasty – discounted fundraising bears out my prior caution, though where from here?

Writing last month on Wildwood and dim t restaurants group Tasty (TAST) with the shares at 6.5p, I concluded that the noted trading and financial situation saw me retain prior caution. Today a placing & open offer announcement…

LightwaveRF – discounted fundraising “to continue to scale the business… and provide working capital”. Really?!

“LightwaveRF (AIM: LWRF), the leading smart homes solutions provider, is pleased to announce that… it has successfully raised gross proceeds of £2.50 million through a placing of, and a subscription for, an aggregate of 29,411,780 new ordinary shares at a price of 8.5 pence per share”. Hmmm…

DPP
DPP

DP Poland – trading underperformance, massively discounted bailout placing… CEO “step down… by mutual agreement”!?

I’ve consistently warned on DP Poland (DPP) – most recently last year with the shares at around 30p HERE. Today a “Proposed Placing, Board Change & Trading Update” announcement…

CloudCall – following Tom’s Bearcast of an AIM CEO guide to misleading about a placing…

A 15th January “Trading Statement” announcement from CloudCall Group (CALL), included “available cash reserves of £2.75m… Cash reserves decreased by approximately £1.5m in H2 2018, compared to £2.5m in H1 2018, and the company is already well advanced in preparations for its 2018 R&D tax credit claim which is expected to bring in an additional £0.75m in mid-2019” and “following its equity fundraise completed in November 2017, 2018 has seen the company make significant investments… as with most SaaS businesses, there is always a lag between making these investments and the resulting revenue growth, so I am delighted that we are now starting to see tangible acceleration in customer orders and user growth”. No need for more funds imminently then?... Now “Placing”!...

PSL
PSL

Photonstar LED – “pleased to announce” placing. But it’s monumental dilution for what?

Photonstar LED (PSL) previously commenced announcements with “the British designer and manufacturer of smart LED lighting solutions and cloud based building management services”… . It today states “PhotonStar LED Group plc (AIM: PSL.L), is pleased to announce that it has raised gross proceeds of £100,000… at a price of 0.02p per share”

Location Sciences Group – fundraising “to accelerate the growth” from a “leading position”, Really?

“Placing, Open Offer and Trading Update” announcement from the former Proxama, now Location Sciences Group (LSAI), including “the directors believe that further funds will enable Location Sciences to maintain its leading position in the UK location data and insights market and allow the company to accelerate the growth of Verify, its leading location data verification product, both in the UK and overseas”. Hmmm…

Starcom – 2018 revenue to comfortably exceed market expectations?, why the discounted placing?

Starcom (STAR), “which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets, is pleased to announce that an agreement has been signed with a local distributor in North Africa” and “to ensure that this and other orders can be delivered as planned both for this year and early 2019, the company has conditionally raised £400,000 before expenses through a placing… at a price of 2p”. Hmmm…

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Columbus Energy – placing which “follows strong market interest from two of our major shareholders”, what’s with the price then?!

Columbus Energy Resources (CERP) “is pleased to announce a conditional placing… at a price of 3.5 pence per placing share to raise approximately £2.5 million”. The shares though commenced last week at above 4p, were still 3.75p at the end of it and the week included “pleased to announce the completion of the purchase of Steeldrum Oil Company Inc”“pleased to provide an update on business, operational and financial activities during Q3 2018” and an evening investor presentation…

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MYN
MYN

Mayan Energy – placing inevitable warns the City’s No 1 oil analyst in damning email

Given the lowly market cap of Mayan (MYN) any placing will have to be a heavily discounted bucket shop special. In light of that, investors should take heed of an explicit warning from the City’s No 1 oil analyst Zac “the Knife” Phillips of SP Angel. In an email he writes:

Toople – shows contempt for ordinary investors with “delighted to announce” placing

“Major Contract Win” announcement from Toople (TOOP) on 29th August followed the prior week “contract win demonstrates that Toople is excellently placed” and saw the shares soar to more than 0.92p. I warned with an attempted bailout financing looking on the horizon, sell / avoid, and the shares had settled somewhat around 0.75p before a now “Proposed placing to raise £2.2 million”

One Media iP – following July results positivity, a ‘Horlick(s)’ of a fundraising

One Media iP (OMIP) “is pleased to announce a proposed placing and subscription to raise a minimum of £1.9 million of new equity capital at an issue price of 6 pence per new ordinary share, and the proposed issue of up to £6 million of (7% per annum interest from date of issue) loan notes”, including emphasising the placing price “represents a premium of 240 per cent. to the price of 2.5 pence per ordinary share at which Lord Michael Grade and Ivan Dunleavy first invested in the company in December 2017”. Sounds positive then…

CWD
CWD

Countrywide – significant equity fundraising reflects far from propitious circumstances. As warned!

I wrote last week on estate agency and property services company Countrywide (CWD) updating including “the adjusted EBITDA for the group for the six months ended 30 June 2018 was slightly better than the guidance previously provided” - and the shares have responded currently higher, back above 50p, but concluded the market cap is still now circa £120 million and with also it to be attempted significant equity fundraising ahoy in far from propitious circumstances, the stance remains avoid / sell. Today half-year results and a “Firm Placing, Placing and Open Offer 2018” announcement – and the shares down towards 17p!...

IKA
IKA

Ilika – funding completion sees CEO Purdy ‘like to thank shareholders’. I bet he would!

Previously writing on Ilika (IKA) in March, it was collaboration agreement, argues “large global markets” potential but still cash crunch first?. Today a “Results of General Meeting and Open Offer” announcement…

IGE
IGE

Image Scan – “pleased to announce” acquisition… but accompanying placing is far less pleasing!

Shares in Image Scan Holdings (IGE) reached approaching 13p last year and were 6p+ following half-year results in April before sliding in the last month, last closing at 5.5p. Now an “Acquisition and Proposed Placing” announcement…

Integumen – argues agreement with “a compelling strategic and financial rationale”, but is the (discounted) placing enough?

Shares in Integumen (SKIN) are currently 17.5% lower, at 0.70p, on restoration to trading on AIM despite it considering an “investment and licence agreement have a compelling strategic and financial rationale”. Hmmm…

MMC
MMC

Management Consulting Group – a proposed placing and open offer, but not ‘pleased to announce’

I’ve previously noted on Management Consulting Group (MMC) it an ‘operational improvement implementer’ which needs some of its own medicine! and most recently in November ‘below expectations’ trading warning less than 3 months after “well placed” interims. The latter saw the shares heading down towards 6p, though I concluded that 'it remains that I’d want much more than the likes of “positive progress” and level of proposals “has now started to improve” here to be convinced of a turnaround. Currently still a bargepole stock'. Now a Proposed Placing and Open Offer announcement…

SCE
SCE

Surface Transforms – reckons placing “following recent investor demand”. I suggest bullshit

Writing earlier this month on Surface Transforms (SCE) I warned argues “these results are encouraging”… but looks to be firmly heading to cash crunch ahoy AGAIN!. Now it is “pleased to announce that it has successfully placed 9,000,000 new ordinary shares… at 17 pence per share, raising gross proceeds of £1.53 million”

Accrol – after 2016 IPO at 100p & 2017 bailout placing at 50p, what now?

In June 2016 tissue products manufacturer Accrol (ACRL) listed on AIM, raising £63.5 million at 100p per share. Just seventeen months later it was bailout fundraising at half of the IPO price but still recently “revised banking arrangements” have been necessary and now at 3:08pm on 15th May 2018…

PSL
PSL

Photonstar LED – shares having soared ahead of new product. Guess what?

Previously writing on Photonstar LED (PSL) just over two months ago, I suggested £0.43 million of funds then raised not likely to last long. Recently though, ahead of a release of its “next generation halcyon cloudBMS product”, the shares have soared and thus surprise, surprise…

CNS
CNS

Corero Network Security – following the pump…

Following thus far in 2018, 3rd January; “Significant Contract Wins”, 14th March; “Customer Wins” and as recently as 3rd April; “Customer Wins” - as warned, Corero Network Security (CNS) is now “pleased to announce a conditional placing and subscription to raise approximately £4.0 million ($5.6 million) before expenses”

PSL
PSL

Photonstar LED – “pleased to announce”… (as we warned) a massively discounted placing!

At the end of January I cautioned as Photonstar LED (PSL) argued “a further step towards… strategy of transforming the group into a software and services business, focused on lighting and building management as a service” and that “the unaudited net loss for the group has been reduced to approximately £0.9m, compared to a net loss of £1.46m in the previous year” - concluding it looked to remain cash crunch ahoy and thus, natch, the stance remained sell / bargepole. Now a 3:34pm “Conditional Placing of £430,000 & General Meeting” announcement…

PCI-PAL – from December contract wins & trading “well” to a January private investor screwing

A 5th December announcement from contact centre payment technology company PCI-PAL (PCIP) included that it “has won a further major reseller contract and two new UK local Government contracts” and “the level of enquiries looks set to accelerate demand for our services faster than anticipated”. From 51.5p before that announcement, the shares went on to exceed 78p this month and closed yesterday at 71.5p. Now a Placing to raise £4.95m

LightwaveRF – as warned, following the ‘pump’…

Writing less than two weeks ago on LightwaveRF (LWRF), my conclusion included the latest announcement has currently helped the shares back above 19p. However, this compares to more than 29p reached last month – the market also questioning cash crunch ahoy? And is this latest thus “fantastic to confirm” as it will aid a fundraising? There is now a “Proposed Placing to raise £5 Million & Open Offer” announcement – and the shares are currently down to 16.5p…

ZIN
ZIN

Zinc Media – acquisition it is “delighted to announce”, but accompanying placing which is far from delightful

Following a positive share price performance since late last month-announced results for its year ended 30th June 2017, with there also subsequently a “Contract Extension” announcement and the shares last closing at 1.15p, there is now from Zinc Media (ZIN) an announcement of a “Proposed Acquisition and Placing to Raise £3.5m” - at 0.90p…

UBI
UBI

Ubisense – placing, more to support growth plans or needed to strengthen the balance sheet?

Arguing it is positioning “to capitalize on significant projected increases in spending” as suggested by it having “reported a strong set of financial results for the six months ended 30 June 2017”, Ubisense (UBI) “is pleased to announce it has raised £5.5 million (before expenses) from a placing in order to support growth plans and strengthen its balance sheet”. Hmmm, let’s review…

Pressure Technologies – indebted, follows profit warning with a placing… though claims it’s for “a number of benefits”

Engineering group Pressure Technologies (PRES) “is pleased to announce” the result of a bookbuild. This is of a gross £5 million placing at 122p per share. This comparing to a prior closing 126p share price and more than 140p prior to a most recent trading statement at the end of August…

Nanoco – as warned, discounted placing ahoy!

I noted in an update on Nanoco (NANO) last month that “Commercial Supply and License Agreement” saw the shares bouncing a bit, but the key question remained when’s an attempted fundraising? (discounted, natch). Well, the company has now been “pleased to announce” a placing result and researcher Edison has updated…

PIM
PIM

Plant Impact – placing, tries to argue “represents a premium”. Hahaha…

Plant Impact (PIM) has announced the conditional placing of new shares in the company at 31p each raising a gross approximately £4 million, with the announcement also including “the placing place (price?) represents a premium of 6.0 per cent to the closing mid-market price of 29.25 pence per existing ordinary share on 25 July 2017”. Hmmm…

SCE
SCE

Surface Transforms - discounted fundraising o’clock (as warned)

In December I noted cash concerns on Surface Transforms (SCE) following a half-year trading update. I reiterated these last month, despite the company arguing “we continue to look forward with confidence”. Now surprise, surprise it’s discounted fundraising ahoy…

EYE
EYE

Eagle Eye Solutions – from “confident” of sufficient headroom, to John Lewis ‘pump’, to...

In March I questioned whether the balance sheet of Eagle Eye Solutions (EYE) was sufficient despite the company stating it was confident of sufficient headroom to support its current strategic ambitions. It is now “pleased to confirm… 2,666,667 ordinary shares have been conditionally placed… at a price of 225.0 pence per placing share to raise approximately £6.0 million (before expenses)”. Hmmm…

TCM
TCM

Telit Communications – discounted £39m placing “to fund several identified acquisition opportunities”. Hmmm…

The most shorted company on AIM, Telit Communications (TCM) has announced “it has successfully placed” new shares to raise £39 million “to fund several identified acquisition opportunities, mainly in the IoT Services sector, which the company will look to execute in the near to medium term”. Hmmm…

Audioboom – BOOM! Discounted fundraising follows bullish ‘KPI’ update earlier this month

Noting the balance sheet position (and related-party transactions) suggested continued caution, I previously updated on spoken-word audio platform company Audioboom (BOOM) earlier this month as the shares were recovering above 3p on the back of a “First Quarter KPI Update” announcement. Now BOOM – it’s discounted placing ahoy!...

SNT
SNT

Sabien Technology – “£750,000 placing to continue growth strategy”, AKA to keep the lights on…

Previously writing on Sabien Technology (SNT) in July, I noted its seeking to reduce the nominal value of its shares “in order to allow the company to issue new ordinary shares should it decide to do so”, concluding that somehow, I’d guess it would decide to do so! - see HERE. Today we have an announcement of “£750,000 Placing To Continue Growth Strategy”...

BOX
BOX

Lord Razzall of Boxhill you are boring me - what are you hiding now you worm?

Lord Timmy Razzall still has not answered the ten questions from Cynical Bear that a man of honour rather than a money grabbing piece of shite would have answered - his silence tells you everything. Instead he has again produced a trading statement from Boxhill Technologies (BOX) which omits all the key data - Lord Razzall luvvie, what are you hiding?

PEN
PEN

Pennant – follows share price pump, with a dump extraordinaire...

Shares in Pennant (PEN) closed May at 34.25p before... 1st June: “New Contract Awards worth in excess of £13 million”, 16th June: “New Contract Award and Trading Update”, 19th July: “Record Order Book drives expansion of premises” - and now there is a dump extraordinaire...

APC
APC

APC Technology - “is pleased to announce”… another private investor screwing

APC Technology (APC) “is pleased to announce that it has conditionally raised £1.1 million (before expenses) by way of a placing of 13,750,000 ordinary shares… together with two warrants for every five placing shares issued”. The market is not as pleased – the following updates with the shares currently more than 16% lower, at 8.375p, on the day…

WANdisco – CFO departure time confirmed, as my discounted confetti ahoy call has also been…

It has been announced that CFO of unique cash-burning machine (sorry, “unique… provider of enterprise-ready, non-stop software solutions that enable globally distributed organizations to meet today's data challenges of secure storage, scalability and continuous availability”) WANdisco plc (WAND), Paul Harrison, is to join JUST EAT plc with effect from 26th September. He is stated to be “looking forward to joining”. I bet…

Imaginatik – shares on the rise despite admitted discounted fundraising discussions. Hmmm…

Having fallen back towards 3p following a couple of RNS announcements earlier this week, shares in Imaginatik (IMTK) are currently on the rise again. With this coming after the shares had slumped to sub 2p by the start of April before soaring beyond 5p by the commencement of May, the following reviews the goings-on here…

UBI
UBI

Ubisense – it’s so long, farewell, Auf Weidersehen, goodbye... to CEO Richard Green & his “performance payments”

Previously on Ubisense Group (UBI), I reviewed a November profit warning and noted an idea where the “further cost actions” can start – see HERE. That was with the shares then at 66p. With them now at 29p, an announcement from the company begins with “that it is to expand the remit of its chairman, Peter Harverson, to become executive chairman with immediate effect”. Hmmm, why’s that then?

Strat Aero – another fundraising = natch, shares a top faller again

Despite claiming that a gross £400,000 of funds raised last week “will help us deliver on our objective to establish Strat Aero (AERO) as the go-to-provider of UAV enabled technology to the commercial, educational and military sectors”I noted continuing concerns on funding as the shares slid from approaching 2p to 1.5p. Today the company “is pleased to announce… it has raised a further £477,250 (before expenses) by way of an additional placing”. Hmmm…

88E
88E

88 Energy, now about that placing...Bulls hit back with defensive ploy No 6

I am lambasted by a chap, who pretty obviously owns shares in 88 Energy (88E), who attacks my piece of yesterday using play number 6 from the mad bull responding to hard analysis playbook - "this is not news, it is all old hat, not worth reading, yadda, yadda, yadda". Well...ahem.

IRG
IRG

Independent Resources - Shareholders ARE mugged as we warned: FCA MUST Investigate

We warned you two days ago that Independent Resources (IRG) was trying to spoof investors with a bogus announcement in order to get a discounted placing away...it has not taken long, the placing today is a shocker. the FCA and AIM Regulation must investigate.

Neil Ritson ramps Solo as bailout placing inevitable just do the frigging maths!

Ramp ramp ramp, Neil Ritson of Solo Oil (SOLO) is in full ramptastic action right now as he tries to pump the shares ahead of a placing - just do the frigging maths, a discounted offering is inevitable. You can't do the maths? Let me assist.

Magnolia Petroleum meaningless ramptastic trading update - is it insolvent yet?

Magnolia Petroleum (MAGP) today announced that its sole broker is now Cornhill which means that a deeply discounted placing is imminent. A ramptastic trading statement has spiked the shares by 11% to 0.18-0.23p and that may help but investors need to ask how close is Magnolia to insolvency.

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