I start with domestic woes and legal opinion on the claims of the IRA man. In the main body of today's podcast I look at Purplebricks (PURP) and the role of Neil Woodford and Link. I cover Microsaic (MSYS), Deepverge (DVRG), Pantheon Resources (PANR), Asimilar (ASLR), Argo Blockchain (ARB) - placing at 6p?. I also relay the thoughts of the world's greatest living expert on musicMagpie (MMAG) and why it is doomed. If you hurry and book a seat at Sharestock - where less than a third of seats are still free - you can meet the expert, who was also a great Quindellologist - on September 23. You can book HERE
Previously writing on branded clothing, accessories and footwear company Superdry (SDRY), last month with the shares falling below 90p I wrote the consumer landscape very ‘challenging’ for it. Attempted equity raise ahoy? – concluding that, with its trading certainly not providing a strong platform to undertake a fundraise, natch, at a heading towards £70 million market cap (will thus the mooted fundraise even be sufficient?), still a Sell. It has now announced a proposed equity raise… and the shares are currently falling to around 80p. So what’s the latest detail?
These days he goes by the name Lord Ashbourne but I shall always know Edison's mining analyst as the convicted felon Charlie Gibson. Anyhow yesterday he was not thrashing some peasant for being a dirty oik or driving while sloshed but instead penning a note on Kefi Gold & Copper (KEFI). Of course Kefi pays for this research but that makes its steer on a placing all the more relevant. No it is NOT doing one right now as I keep being told by folks who will not accept a slam dunk denial from 'arry Adams.
AIM-listed jam-tomorrow (if ever) IoT investment Company Tern plc (TERN) has followed up yesterday’s ramparoonie over Wyld (listed on the joke Nasdaq-of-the-north exchange in Stockholm) with a big announcement of a new contract for jewel-in-the-crown Device Authority worth $1.2 million…….over five years.
Given that Versarien (VRS) is now running on vapours, the pointless creation of loathsome Neill Ricketts is desperate to pump its shares as hard as it can to get a bailout placing away. Yesterday we saw lovable oaf Craig from Big Brother 2001 roped in. Today we see the use of the local rag.
I start remembering a career moment of shame involving Colin Bird and that brings me to Xtract Resources (XTR) where for all Bird's dissembling surely a placing is underway? I look at the joke company eEnergy (EAAS) and the disgraceful antics of Justin the Clown. I cover nanosynth (NNN) which I expect to go bust by New Year's Day and Argo Blockchain (ARB) which I think is already bust. I explain how it can avoid paying its bills for a while. Then I look at "wonder stock" Atlantic Lithium (ALL), its £1 billion NPV and how robust that is, its management, the various red flags and the inevitability of a near term placing. There are bull points here as well as bear.
LiDAR wind sensors for wind turbines company Windar Photonics (WPHO) has announced restoration of trading in its shares following the publication of accounts and with a £1.8 million placing at 15p per share. So what of a share price up to 15.5p, a prospective £10.3 million market cap?
Back on 14 October when Yourgene (YGEN) shares traded at 4,25p I warned that the company would almost certainly run out of cash and would need to do a fund raise, HERE
So far this year 4 NEDS and the FD have departed from Guild E-Sports (GILD). Now one of the NEDs who came onboard on March 31 as others left has walked and the CEO has replaced the chump who floated this crock just over two tears ago. What next for a company now running on vapours?
Even Stevie Wonder can see the writing on this wall. PowerHouse Energy (PHE) is now having to fund the building of its own waste to hydrogen plants having previously said others would do so, it burns c£2 million every half year running the company and it is spunking £1.3 million on a global Technology and Innovation centre. By next Spring it will be out of cash
Such is the terrible track record of Applied Graphene Materials (AGM) - minus 97.8% from peak - and such is the severity of the bear market in small caps that what follows should not be that shocking but it is still shocking. Since last week Applied has been on a dog and pony show with its broker. The aim was to raise £3 million. However, the details are horrific:
Once upon a time, Yourgene (YGEN) was a growth stock, the sort of company where shoot the lights out sales increases justified a lofty multiple which might allow for yet another fund raise. How times have changed. Today’s trading update was piss poor and, whatever bearded boss Lynn Rees might say, there must be a very high chance of a 2023 placing, as I warned three weeks ago HERE.
Sub scale investment company Tern (TERN) has announced that it has invested a fresh $303,000 in loan notes issued by Device Authority, its largest single investment where it has a stake of 53.8%, Two matters of grave concern should leap out at you.
Last year Vast Resources (VAST) had to complete an emergency and deeply discounted fund raise in October as without it the auditors argued the company was insolvent and so refused to sign off on the books. Even post placing they flagged up a material uncertainty. So what of 2022?
£10 million in a placing at 2p. Plus a broker offer raising up to £2.5 million more. Lovely Jubbly. Everybody connected with the POS Deepverge (DVRG) is happy, except shareholders who have, again, been royally screwed. As I oft predicted. So who are the winners on a day when Deepverge fessed up to yet another undeclared related party transaction involving Gerry “the arse” Brandon.
The mystery of the Earl of Abingdon remains and it is why I am late with the first of two podcasts today. Then onto Deepverge (DVRG) the firing of Gerry Brandon (real or spoof), the 100k screw by Mrs Brandon and the placing about which the company cannot but help tell a porky.
AIM-listed Scancell (SCLP) was a company that I tipped – very unsuccessfully – in the past, on hopes of making pots of cash out of its medical technology. I sold, and needless to say, the shares then shot higher amid the Covid pandemic. But more recently, the ski-slope (downwards) reasserted. Until this morning.
This is simply shocking. The proven reserves Wildcat Petroleum (WCAT) owns are zero. Nil. Rien. Yet in emails boss Mandhir Singh has been pinging out which have fallen into the hands of Winnileaks he is claiming that his company is “billion (sic) of barrels of oil”. And after a massive pump last week. Guess what….
Oh dear, oh dear, shares in Deepverge (DVRG) run by Gerry “the journalist trolling arse” Brandon have collapsed again today and are now just 2.25p bid, 2.375p mid. And to think that – as I exposed HERE – the company started its current bailout fund raise with Turner Pope trying to raise £9 million at 5p. Ooops. The arse assured us that the response from a roadshow had been positive but the share price today (off another 17%) suggests either frantic forward selling or that the placing is flopping altogether.
When not working out how to bankrupt me with a cunning Greek plan, the morons insisted that there was no placing coming from Avacta (AVCT). Well here we go, time to apologise morons. Today Avacta has raised £7 million at 95p and hopes that an open offer will bring in another £2 million and says “The Company consulted with a number of its major shareholders prior to the Placing and is pleased by the support it has received from both existing and new shareholders.”. I can reveal that is a big fat lie. Two folks who were made insiders havie confirmed that Avacta wanted to raise £15 million but could not. So to say it is “pleased” is just a lie. It gets worse.
AIM-listed Advanced Oncotherapy (AVO) has announced yet another fundraise – this time for £6 million (before expenses) for the issue of another 24 million bits of confetti and associated warrants at 25p – the par price of the shares (below which it is not permitted to issue stock). The grateful recipient of the latest round of paper? Step forward clients of Odey Asset Management as Crispin Odey’s outfit doubles down yet again.
AIM-listed online ladies fashionwear purveyor Sosandar (SOS) served up a half-year (to September) trading update this morning. The highlights were appealing: revenues up 72% year-on-year and a profit before tax of £0.1 million made good reading. But as Tom Winnifrith oft opines, sales is vanity and profit is a matter of opinion: what really matters is cash.
The roadshow started yesterday says a reliable City source. Having raised £10 million last June at 30p c/o the scholars and gentlemen at Turner Pope and blown all of that plus a £4 million Riverfort loan already, Deepverge (DVRG) cannot make the first £500,000 loan repayment to Riverfort due on Sunday as I discussed earlier.
As a long term holder of Horizonte Minerals (HZM) I was disappointed to see the news that the company has needed to raise more capital via an equity issue, but I probably shouldn’t be too surprised.
I am still nursing an ouzo-inflicted headache following Wednesday’s bailout placing at just 7.5p by AIM-listed Tern plc (TERN). Tom Winnifrith has covered this here and here already, but there are still more reasons to sell.
AIM-listed Haydale (HAYD), fresh from its bailout keep-the-lights-on placing and open offer at 2p in which it raised £5.5 million (gross) last month, has announced its full year results, to June 30, this morning. The numbers are truly grim.
Lunatics such as the low grade Ulster share spiv Nigel Hassard insisted that Bidstack (BIDS) did not need a fund raise even as its own broker slashed forecasts and warned that the company would be down to just £34,000 cash at December 31 this year. The loons said that I was just scaremongering. Of course, Bidstack did not tell ordinary investors about that Stifel red alert, instead, the very same day issuing a ramptastic statement about a $100 million market opportunity. I’d like to talk about an opportunity – also not grounded in any hard actual events – that I have with Cheryl Cole.
If you do the maths, the Primary Bid flop for Tern (TERN) announced this morning is really bad news. The amount raised by Primary Bid and in a subscription is just not enough. It is a sticking plaster on a wound bleeding cash when a full tourniquet was needed. And it means that the countdown to the next placing is already underway.
I warned and I warned that this Mexican style fast food rollout would go badly and today shares in Tortilla Mexican Grill (MEX) have duly puked by 30% to 101p. It was just 362 days ago that this company joined the AIM sewer at 181p having raised £5 million for the company and £12 million for founders cashing in some of their nachos. Good call.
Tertiary Minerals (TYM) has always been one of those companies that has promised a lot based on the potential of its resources in the ground, yet never seems to make much progress towards actually extracting any of them, whilst burning through cash and having to raise more at regular intervals.
Avacta (AVCT) shares are off only 0.5p at 109.5p today despite some fairly piss poor half calendar year numbers as bulls were given two straws to clutch at: a sharp increase in sales and the lack of a bailout placing. Fear not if you are short: the denouement is only delayed and here is why.
I start with a sort of Lucian Miers-style checklist for short candidates. How many boxes does Bidstack (BIDS) tick?
The David Beckham deal with Guild eSports (GILD) always stank to high heaven as I pointed out at the time of the IPO while the deadwood press sucked the cock of the Beckham PR machine. On its IPO it raised £18 million but agreed that – irrespective of what sales it achieved – it would hand £15 million of that to Mr David Beckham in return for his work as a brand ambassador. Today, less than two years after that IPO at 5p, the deal has had to be scrapped in order to persuade investors to back a bailout fundraise to stave off bankruptcy.
Before today, during 16 years when various executives have troughed it on a material scale, shareholders in Vast Resources (VAST) have witnessed a 99.96% share price decline. Today it will get worse as there is another bailout placing to fund operational failure and fat cat largesse, including a CEO on £227,000 a year. Everything about this latest disaster stinks.
AIM-listed Jam tomorrow investment company Tern plc (TERN) released awful interim results to June 30 2022 today – there is no jam tomorrow! With negative net current assets and a loss of £2.4 million, a failed takeover and a cash-crisis, it couldn’t get much worse…….but it does!
Sorry for the lack of material yesterday. It was Joshua's birthday party. Today I look at Chris and Malcolm's thoughts on staying in cash on the perceived threat of a windfall tax on big oilers and at the death spiral versus bucket shop debate. I apologise for an error on Friday in this regard and FWIW I think that in some cases death spirals are far better news than bucket shop placings and I explain why.
Back in March, at the request of a ShareProphets reader, I took a look at Capital Metals (CMET) and noted that although the company and its resource didn’t really appeal to me personally, I could see some potential there if and when it reached production.
AIM-listed POS Inspirit Energy (INSP) has updated the market on its waste heat recovery system, telling of great things from trials in Poland and plenty of jam tomorrow. It reads so beautifully: shareholders must be thrilled at being updated. So what’s the catch?
Yesterday, AIM-listed jam-tomorrow and running out of cash fast investment company Tern plc (TERN) announced that CEO Al Sisto had piled in to buy a whopping 200,000 shares via a subscription at 9.9p on Tuesday. The shares moved up by 6% in response – adding £2 million to the market capitalisation. But this is all a massive spoof.
We know that investee of AIM-listed jam-tomorrow investment company Tern plc (TERN), FundamentalVR (FVRVS), raised new money via a Series B funding round as announced on 31 May 2022, and again as announced on 11 August 2022 – the second of which cost Tern £1.5 million against the book value of its investment. On 28 July 2022, Tern chairman Ian Ritchie was announced to have bought 560,000 shares in Tern. This raises an interesting question.
The court case docket is below. I explain what it is all about and why it could crash Asimilar (ASLR), AAA (AAA) and Audioboom (BOOM), I also look at Westminster Group (WSG) where it is placing ahoy as vile ex Tory MP Sir Tony Baldry destroys yet more shareholder value, Ben's Creek (BEN) and its placing and Predator Oil & Gas (PRD) and the mounting regulatory storm concerning Paul Griffiths. He has got to go. Finally I will announce a new ShareStock speaker tomorrow, book your seats now HERE
Today Predator Oil & Gas (PRD) has raised £3.3 million in a placing at 5.5p. This stinks and begs massive questions about share dealings by chairman Paul Griffiths. The FCA and regulators should be all over it.
In today's bearcast I discuss Kirsty Allsop's great macro call, Made.com's (MADE) looming financial crisis (with a screen grab below from its own website telling you how bad it is), the oil price ( down 25% in two months and falling) and Canadian Overseas Petroleum (COPL) and why it is a zero in 2023.
You will remember that when the old auditor to Versarien (VRS), run by loathsome charlatan Neill Ricketts, walked, the new bean counter said that it would not have sufficient time to sign off on results to March 31 so Ricketts extended the year end to September 30. But the shares are today sliding (again), off 10% to 18p, as chickens prepare to come home to roost.
AIM-listed jam-tomorrow IoT investment company Tern (TERN) announced yesterday afternoon that investee Fundamental VR (FVRVS limited) had raised a further £5 million in a second tranche of the Series B fundraise first announced back in May. That seems positive, so why the immediate share price drop in the market?
By my back-of-an-envelope, AIM-listed Haydale (HAYD) is once again almost all out of cash – I reckoned HERE that the coffers could be bare before the end of September. Having burned through £430,000 in June alone, the company had £1.19 million at the close of June. So what will the company do?
On 23 June 2022 Gerry “the arse” Brandon, a man who broke AIM Rules 10 and 11 before his last bailout placing last summer, served up calendar 2021 results noticeable for their prodigious cashburn but the most bullish of statements about the jam arriving tomorrow, or in fact this year.. How things can change.
I start with AMTD Digital, run by a man banned from operating in Hong Kong, whose US listed shares have zoomed ahead by 14,000% since its IPO a few weeks ago. It is now valued at more than Goldman Sachs. This is insanity writ large but it is risky betting against insanity. Then it is onto the stench of the Betahny Garner affair, Cellular Goods (CBX), Kanabo (KNB) and Oxford Cannabinoid (OCTP) where i discuss other clear signs that a bailout placing is being lined up. Then it is onto Online Blockchain (OBC) and the threat ADVFN (AFN) should be making against it. Finally I discuss La Willingham's Nightcap (NGHT), its trading statement and the cash crisis looming this Autumn.
Standard-listed Panther Metals (PALM) announced a conditional placing this morning, to raise £1.14 million at just 5.5p per share, with one warrant attached for each new share at 8.5p. Given that the shares have been up as high as 14p in the past year, the issue price is a big disappointment ro shareholders like myself – even if the discount to the prevailing price is only 12%. I must apologise for some of my prior enthusism on these pages, but...
When AIM-listed Haydale (HAYD) released a trading update AHEAD of its full year at the end of June, seemingly indicating that all was well, I wondered if that was really the case. Well, this morning we know the answer to that, after a full-year trading update. All most certainly is not well – and the shares are already down by 5.5%.
AIM-listed Barkby Group (BARK) has released a trading update for its year ended 2 July 2022, along with an update on strategy. The former sees an unaudited bottom-line loss of £0.8 million whilst the latter implies there has been a strategic review – uh-oh!
MGC Pharmaceuticals (MXC) is drowning in red flags, as I exposed HERE. Moreover, it is almost out of cash, as I noted HERE. Hence, it has today announced the seventh ramptastic RNS since May 27. Seven in six weeks is pretty good going, but the recent share slump - 2.25p six months ago, to 1.1p on May 27, to just 0.975p today - is even more telling.
Having insisted that it was on track to hit forecasts (which included an improved cash position), AO World (AO.) has today announced a £40 million institutional book build and Primary Bid Offer, at 43p – last night, the shares were 47p. So, should you consider an investment? Er…no.
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’.
How many times will mug punters fall for this? Last Thursday, Verditek (VDTK) shares traded at 1.3p, before soaring to 1.6p the following day. On Monday, there was a contract announced, and they roofed it to 2.5p. Today…
Oh dear, oh dear. This is truly awful, and explains why results normally released in late April, came out today - deadline day. Shield Therapeutics (STX) is in a mess, as I warned so often. Ouzo for me. Cabbage water for those who ignored my explicit warnings and instead, hurled abuse at me.
I'm not suggesting anything inappropriate - just making an analogy, as I discuss Zephyr Energy (ZPHR). Then, I touch on Optibiotix (OPTI), and a chat with Steve O'Hara. If you'd like to spend a day with Steve over all day drink and home-produced Welsh food, you can of course do so, HERE. I am pleased to say that almost a third of the seats are already booked out. After that, it is onto Oxford Biodynamics (OBD) and Shield Therapeutics (STX) - will its placing be at 5p, or not at all?. Then, Pennon (PNN), sewage and Feargal Sharkey. Finally, Abingdon Diagnostics (ABDX), where good news has seen the shares rocket. However, that only postpones the next bailout placing (or death) until Adven
AIM-listed Inspirit Energy (INSP) has announced the remarkable achievement of over 30kW from a first stage build test for its waste heat recovery system. Woopie-do! But is this all it is cracked up to be, with the shares up 49% on the news?
Versarien (VRS) admitted the need for a bailout placing within the next ten months (and probably much sooner), or it will go bust. With a quick google search, its latest RNS Reach spoof unravels in seconds.
Last year, AIM sewer poster boy, Deepverge (DVRG), did a placing at 30p. It had misled investors on trading, and its ghastly CEO, Gerry "the arse" Brandon, slated me as not understanding investment. Today, the shares are 10.5p, after awful finals in which, as I explain in this bonus podcast, the company again - by omission rather than act - materially misleads investors. If you own this stock, lube up; there is more pain coming your way.
You will remember: this is the company that lied in its very first RNS, claiming to have raised cash when it had not. It then engaged in spoofery, stating that it was going to help companies with imaginary oil reserves, and monetize those fictitious assets via crypto/blockchain technology; the shares subsequently raced up to 4p. Now, it is again trying an E&P reversal, but a cash crisis is looming. Do the math!
A week ago, Dave Richards - CEO of Wandisco (WAND) - was tweeting pictures of himself suited and booted, as well as his Mrs dressed up to the nines, as they headed to the residence of comrade Elizabeth Windsor. Today, he proudly waffles on about 2021 results from Wandisco. Only when you read the notes buried at the bottom, are you reminded of the dire realities. It could go bust, and will inevitably do a bailout placing - but is that enough? This is a train crash, and, rather than serving up nauseatingly misleading statements, Richards should admit to the facts.
I cannot help but notice that sub-Standard-Listed Cloudbreak Discovery (CDL) is back below its IPO price of 3p, at 2.8p in the middle. Call me Mystic Meg – for having sailed up as high as 13.25p on a ridiculous ramp, I commented in April that the shares have since drifted down to just 4.6p and seem set to drop back below the IPO price in due course. Where’s my Ouzo?
In today's podcast, I discuss Argo Blockchain (ARB) and why, later today, I shall be wading through 34 miles of nettles. If you can, please donate to Rogue Bloggers for Woodlarks, HERE.
AIM-listed Haydale (HAYD) has offered up a trading update ahead of its full year to June 2022. Apparently all is well, with revenues ahead of expectations but is that really the case?
Only last Sunday I showed that AIM-listed Trafalgar Property (TRAF) was technically insolvent, with MINUS £345,000 in net current assets, net assets of MINUS £3.3 million and cash of just £24,000 all as at last September. With a big ramp in play following the appointment hydroponics specialist of Dr Paul Francis Challinor, it was surely obvious that a discounted placing was on the way and whilst everybody was putting the finishing touches to the Platinum Jubilee bunting at 3.07 pm the day before a double bank holiday – truly no-one-is-watching o’clock - the company duly announced the issue of 133 million new bits of confetti at a massive discount. Nice work – call me Mystic Meg.
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has announced a recommended all-share deal to take over AM-listed Pires Investments (PIRI). The fanfare numbers are that Pires investors are getting a 54% premium to the previous closing price, with Tern’s shares priced at 15.5p, but that seems to me to be a spoof. One wonders why Pires' board took the deal…..
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!
AIM-listed John Zorbas vehicle URU Metals (URU) has announced yet another roll-over of the particularly advantageous 85p conversion terms on its $500,000 death spiral funding from Boothbay Absolute Return Strategies LP. With the shares currently at 350p in the middle, this is a licence to print money. The giveaway terms are now open to Boothbay until 31 May 2023.
Versarien (VRS) shares have surged of late: last week, they lounged at 15p; yesterday, they reached 24p. This surge is all the more remarkable given the company’s May 12 warning: within a year, it could run out of money. My guess? The spike is driven by chatroom speculation and is, in effect, a concerted pre-placing ramp. In that vein, I have two questions for loathsome CEO, Neill Ricketts:
Oh dear, oh dear; we really must be in a bear market. Last, July Petro Matad (MATD) raised $10 million, at 3.5p…
Each January, AIM-listed Verditek (VDTK) - chaired by Tory toff, Lord David Willetts - would issue a trading statement, covering the calendar year. It was never anything to write home about, as, despite announcing huge orders ahead of a discounted placing, none would turn into actual er….orders. So, this was typically a January confessional. But in 2022, there was no trading statement.
In the old days of editing this website, flip flop Ben Turney would skewer penny share promoters for deceiving investors. These days, flip flop runs Sub Standard Listed Kavango Resources (KAV), which today raised £750,000 at 3p, Friday’s closing offer price. The RNS is bure bunkum, but there is worse.
I’ve previously written here about the attempts by some to manipulate the share price of Oilex (OEX), and particularly with regards to an upcoming placing, but that will come to an end now that the company has released the actual details.
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.
Dragon’s Den star, Sarah Willingham, cannot contain her excitement as she gushes about “further positive trading” in a Q3 statement, out today. She is, however, a bit shy on the record cashburn and looming cash crisis at Nightcap (NGHT), which means another bailout placing is imminent.
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) today provided an update in the form of its AGM statement. As ever, it is full of hyperbole but offers few hard numbers. The ShareProphets RNS Translation Service explains all…..
Long-term Michael Masterman, of AIM dog W Resources (WRES), has announced that its Nomad, Grant Thornton, and its joint brokers, Alternative Resource Capital and Shard Capital, have all resigned with immediate effect. The question is: did they resign or were they resigned?
As we await the latest heavily discounted bucket shop bailout placing – or worse – from AIM-listed UK Oil & Gas (UKOG), we have already had ramptastic 2D seismic processing from its duff Turkish assets and this morning it was announced that CEO Lyin’ Steve Sanderson has been buying shares. Quick, follow the man……..or not!
A couple of weeks back I wrote a piece here about how the share price of Oilex (OEX) was being manipulated, with all sorts of claims being made from some people about being told information that wasn’t in the public domain.
Previously writing on B2B media group Bonhill (BONH) I noted that it proposed to raise approximately £1.1 million at 5.5p per share via a placing and open offer it stated “for working capital purposes” but I suggested to avert cash crunch ahoy. Now further fundraising detail along with calendar year 2021 results.
AIM-listed Haydale (HAYD) issued an RNS Reach this morning to announce that it is celebrating a double award win, with the Group picking up an award at the prestigious 2022 British Engineering Excellence Awards ('BEEAs') and named as a winner of the Kidney Research UK MedTech Competition respectively. But…..
I start with Deliveroo (ROO), whose IPO was at 390p - a year later, the shares are at 106p. What went wrong, I ask, and what now for the shares? Then to two placings: Vast Resources (VAST) announced its placing on Monday; I discussed the one Canadian (COPL) has been working on since last Thursday, last night. It seems to be struggling, but I expect it will be announced by the company tomorrow. Both placings stink, and decent regulators would be all over them. I explain why.
Last week, I wrote several articles about how Canadian Overseas Petroleum (COPL) misled investors and was facing a cash crisis. Snake oil salesman, CEO Arthur Millholland of Oilexco infamy, responded with a denial, claiming I did not know what I was talking about and was motivated by nefarious aims of self-enrichment. Well guess fucking what?
Yes, for the second time this week, I have written to the regulators of the Standard List, that is to say, the FCA, asking for an investigation into Canadian Overseas Petroleum (COPL), the almost insolvent POS run by snake oil salesman Arthur Millholland of Oilexco infamy. The letter is below.
Adding to the grotesquely deceptive and misleading RNS of April 1, and the failure to inform investors of numerous covenant breaches, I now expose another $8 million PORKY PIE from the Snake Oil salesmen at Canadian Overseas Petroleum (COPL). This should shock even the FCA into action.
AIM-listed jam tomorrow IoT investment company Tern plc (TERN) badly needs to get a fundraise away as the closing date for cashing in its first round of warrants at Wyld, listed on the Nasdaq First North joke market in Stockholm approaches. I reckon it has got at best a couple of weeks and probably only one week before disaster strikes. The only question for me is whether the disaster will be the collapse of Wyld or just a massively discounted bucket shop placing-induced collapse in Tern’s share price.
Describing itself as “a world leader in narrowband radio frequency smart mesh networks”, CyanConnode (CYAN) has announced new funding which it states “allow us to maintain momentum and win some of the large opportunities being presented to us” – and the shares have currently responded up to 16.5p. This though follows I previously questioning “solid progress” or continuing cash burn? (And what about the borrowings?!) with the shares falling below 21p in January. So what now?…
Just four days after death spiral provider Atlas converted $150,000 of debt into Vast Resources (VAST) shares at 0.86p having forward sold, it has announced the conversion of another $150,000 this time at 0.77p. In February the conversion was at 1.24p. Do you see a trend? My guess is that those shares have already been forward sold and that Atlas will now be working on dumping even more stock ahead of the next conversion. Why the panic? Two reasons:
If folks are looking to punish Russian war criminals for atrocities committed in Ukraine, I suggest they be locked up for years and made to re-read today’s FY results from UK Oil & Gas (UKOG) fifty times a day. Wading through pages of ESG guff and self-congratulatory horse really does make one lose the will to live. But buried in it is a stark admission of impending share price doom
On January 31 Vast Resources (VAST) announced that it had almost replaced its Atlas death spiral with alternative funding, a refinancing. Natch that was grossly misleading! This is Vast after all.
I noted at the beginning of this month that AIM-listed Advanced Oncotherapy (AVO) needs to get a fundraise away pronto, but that its shares were threatening to drop below the nominal price of 25p, below which it cannot issue new shares by law. On Friday the shares closed at 24p (mid) and I would suggest that Advanced – or, rather, its shareholders – have a big problem.
In today’s podcast I look in detail at Deepverge (DVRG) whose CEO Gerry Brandon is a 100% arse and whose most recent RNS is utterly deceptiive. I also look in detail at musicMagpie (MMAG) where a placing will be messy but is a slam dunk cert if the Fat Lady is not to make an appearance and at Cineworld (CINE) which remains a slam dunk short.
Tom Winnifrith pointed to yesterday morning’s RNS Reach from AIM-listed jam-tomorrow IoT investment company Tern plc (TERN), noting that in effect the investment made was worth around a grand. So even if it was a rampant success it would never make a jot of difference. But not satisfied with that Tern issued another RNS Reach intra-day detailing an internet of things standards project with reference to its biggest investee Device Authority. So was this any more significant?
As explained HERE, sub scale investor in crap companies Tern (TERN) needs to get a placing away by April Fool’s day or it is in deep merde. Hence a desperate attempt to ramp the shares ahead of a visit to the bucket shops for the discounted bailout. Even Tern could not bring itself to make today’s release an RNS. It is an RNS Reach meaning that it is financially immaterial. You will be amazed just how immaterial it is. As such this is a major red flag that a discounted placing is imminent so if you are buying shares in the market today you better lube up.
As Deepverge (DVRG) burns cash and prepares for this year’s bailout placing, the journalist trolling arse of a CEO Gerry Brandon is playing his usual game of spoofing the morons who comprise his shareholder list and ramping the shares with announcements that are designed to mislead a group of investors with a collective IQ of less than that of a cheese sandwich. Last year Gerry the arse broke AIM Rule 11 with the pre-placing ramp, this year it is more nuanced spoof.
So what if women and children are being blown to shreds in Kiev. The “good” thing about that war is that it means we must stop using oil and gas produced by the evil Russians – we don’t use much anyway – and thus need to turn to UK Oil & Gas (UKOG) run by Lyin’ Steve Sanderson to bail us out. Talking of which, I wonder how the placing is going …
Parsley Box (MEAL) has served up unaudited 2021 numbers which are mouthwateringly awful and announced a £5.9 million placing and £1.1 million open offer which is not underwritten. The price of 20p is a small premium to yesterday’s close but a big discount to when FinnCrap started scuttling around the City with the begging bowl out.
For most of the last year, AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has survived because its supporters were truly sold on Tern’s portfolio being worth a multiple of the official NAV per share which allowed Tern to issue more and more shares like there is no tomorrow at a huge premium to NAV per share, even if at massive discounts to the prevailing share price. Until now.
Standard-listed Panther Metals (PALM) has announced this morning that it is raising between £0.3 million and £0.36 million in a placing via an ongoing accelerated bookbuild at 8p per share. With the shares having closed last week at 8.3p in the middle it is a very small discount, although perhaps on reflection it might have been better to rattle the tin at the start of the year when the shares were over 12p.
AIM-listed and surely sort of cash Advanced Oncotherapy (AVO) announced yesterday morning that Prof Stephen Myers, executive director and the chairman of ADAM – Advanced’s development team in Geneva – had bought a total of 140,000 shares. At 27.64p (on average) that is £38,700 worth of stock. It sounds quite impressive, but this is certainly not a situation where it is advisable to follow director buying. In fact, I take the opposite view: the shares are a sell.
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) announced yesterday that it is to participate in the Sure Valley Ventures UK Software Technology Fund, to the tune of an initial £90,000 and a total of £5 million over the next ten years. So where is the money coming from as the deadline for converting Tern’s first round of warrants in Wyld (due at the end of the month) ticks down to an inevitable discounted bucket-shop placing?
AIM-listed Mediazest (MDZ) announced its full year results to September this morning and the numbers were a horror show. The shares are 18% down as I write, to 0.0775p and there is every reason to expect them to fall further.
It was announced intra-day yesterday that sub-Standard Listed Cloudbreak Discovery (CDL) had raised £1.5 million (before expenses) in discounted placing at 7.5p a pop. This follows the miraculous rise of the shares which started ahead of the announcement of boardroom buying, which saw the shares rocket from around 1.75p to as high as over 13p yesterday, just before the announcement.
AIM-listed Advanced Oncotherapy (AVO) has announced that its first proton beam therapy unit at Daresbury has once again been delayed. First it was due in 2021, then the end of 2021, then Q1 2022….now we are told more tests during Q2 and then finalisation of the integration of the remaining high energy accelerating modules and reaching the 230MeV target over the summer. That sounds like Q3 for Mr Godot to finally make an appearance. Or not.
Tern (TERN) is always happy to use the Adam Reynolds keyboard to publicise details of new deals for its investee companies but is much shyer about revealing any financial details. Wyld Networks recently published its results for the year ended 31 December 2021, HERE, and unsurprisingly Tern didn’t bother to highlight them probably because financially they were piss poor..
AIM-listed graphene play Haydale (HAYD) announced its interim results to December 2021 this morning and despite the advertised £3.84 million of cash, yet another placing is surely inevitable. Revenues fell from £1.28 million to £1.19 million, pre-tax losses increased from £1.93 million to £2.46 million year on year – what’s not to like? But the real problem is the balance sheet.
AIM-listed jam tomorrow investment company Tern plc (TERN) is desperate for good news to ramp its shares ahead of a bailout placing which looks needed to raise money to keep its end up at Wyld as the deadline to convert the first tranche of listed warrants there falls on April 4th and if my back-of-a-fag-packet is right, the money isn’t there. And that brings me to today’s intra-day RNS…..
I see that shares in AIM-listed Advanced Oncotherapy (AVO) are down to just 26.5p – only a penny and a half above the nominal price. Normally that might not be an issue, but Advanced is a serial non-deliverer of promises and has had to place at regular intervals until now. So what chance a bucket-shop placing to keep the lights on whilst we await the ever-delayed first LIGHT system to even offer a sprinkling of hope for some revenue?
Last week saw yet another RNS Reach announcement from AIM-listed Graphene play Haydale (HAYD). Reach announcements are used for non-regulatory news, ie non-financially significant announcements and advertising, so a deluge of them is a Red Flag for me, indicating it is bucket-shop placing ahoy.
Predator Oil and Gas (PRD) is a rather very questionable company I have not commented on for some time. Last time was in July last year. I commented on the exec director share dumping and a late reported related party asset deal. 5 days later Ron Pilbeam departed the board with the assistance of Tom Winnifrith and the FCA. Tom celebrated with Ouzo for breakfast and me with Chianti and fava beans for tea. Guess what – I see history about to repeat on one interesting aspect.
I mention briefly events at Omega Diagnostics (ODX) but that is covered largely in a seperate bearcast HERE. Then it is onto the new big covid test short Avacta (AVCT) and why our own esteemed PL is talking cock. I cover Anglesey Mining (AYM) and what its news today really means. Then a long look at Osirum (OSI). Obviously it is a worthless POS but what does its deeply discounted placing today mean for YOUR portfolio?
I shall be recording a special podcast outside of the paywall later for shareholders in Omega Diagnostics (ODX) for they have been well and truly mugged, but not by me, and must be spitting nails this morning as it finally fesses that everything I have exposed on this website was true.
A reliable source tells me that Omega Diagnostics (ODX) has completed a c£5 million placing at just 5p. And given how the morons who own this stock – which at 9.9p is capitalized at £17 million – will be royally diluted, there will also be an open offer at the same price to raise up to £2 million.
As its CEO “was resigned” on 19 January Omega Diagnostics (ODX) poured cold water on the suggestion that it was about to do a bailout placing in a way that I said was grossly misleading HERE. Well knock me down with a feather.
On Monday AIM listed Haydale (HAYD) announced the appointment of new Nomad/Broker FinnCap. Yesterday there was a first RNS Reach spoof and today there is another. With cash surely inadequate to get through the auditor’s Going Concern test later this year, I ask again: when’s the placing.
AIM-listed graphene play Haydale (HAYD) is up to its old tricks again with the release of an RNS Reach telling us that iCraft is using Haydale’s graphene product in a graphene-coated fabric. Yesterday we were told of the appointment of a new Nomad/Broker, today we get an RNS Reach. When’s the placing fellas?
We all know that AIM-listed jam-tomorrow investment company Tern plc (TERN) needs to rattle the tin yet again and sharpish in order to hold its corner as the first round of Wyld warrants comes up for exercise. We also know that Tern’s share price has collapsed (not by enough) in the wake of bad news from its portfolio of cash-hungry investees. And that brings me to today’s flag-waving RNS.
Pot play MGC Pharmaceuticals (MXC) joined the Standard List on 9 February 2021 and has already issued more RNS releases than most companies do in a lifetime. But that is not the only red flag relating to this dual listed ASX entity now being touted by certain chatroom trolls as the next big thing. MGC is drowning in red flags and its valuation is absurd.
The elephant in the room is that Union Jack’s (UJO) disgraced boss David Bramhill has spent vast amounts of shareholders cash hiring spooks to spy on and troll shareholders, journalists and his own advisers as exposed HERE. That makes Union Jack shares toxic and today’s utterly misleading trading statement will not change that.
AIM-listed Graphene play Haydale (HAYD) has appointed FinnCap as Nomad and Broker. So is it fundraising ahoy?
Wildcat Petroleum (WCAT) is the Standard Listed company that lied in its very first RNS exactly one year ago today. More importantly it is rapidly running out of cash, as I noted here, having failed to get anywhere close to executing an RTO as promised 12 months ago. It gets worse.
The fraud that is Chill Brands (CHLL) is running out of cash fast with sales at levels that are almost statistically insignificant. Rather than update us all on that tale of woe there is another spoof. This is all part of an attempted ramp to get a deeply discounted bailout placing away as soon as is possible. Todays spoof is laughable. I offer a translation service
Fox Marble (FOX) has recently announced a fundraising and that it is “optimistic that 2022 will prove to be a turning point for the company”. Bothstatements have akind of familiar ring to them but are there solid grounds for optimism now?
I start with Bluebird Merchant Ventures (BMV) and the FCA. Who is being a moronic fucktard today? Then some very serious number crunching on Versarien (VRS) and its looming cash crisis as the death spiral from Lanstead starts to fail. Then on why Bidstack (BIDS) has offered its long suffering sharehoders a great selling opportunity today. And a few words and questions for Lyin’ Stever Sanderson at UK Oil & Gas (UKOG) – placing ahoy!
UK Oil & Gas (UKOG) needs to get a placing away by St Valentine’s Day or it is deep in the merde as I explained HERE. No institution will touch this crock run by Lyin’ Steve Sanderson so the next bailout placing, like all the others, is a bucket shop special which is why Pinocchio is ramping his arse off with spoof RNS after spoof RNS to try to get private investors buying the shares ahead of a placing at a big discount to the City spivs. Yesterday’s spoof RNS was a green one - today Lyin’ Steve spoofs with a share purchase.
Hello, Share Scrimpers. Previously, I’ve commended Blackbird (BIRD) to you. It’s a company with dazzling technology that allows TV companies to edit and broadcast their programmes in the Cloud. A flurry of orders a few months ago galvanised the share price. But since then, as is often the way, news has dwindled and so has the share price. But there’s now an announcement that signals this growing company may have only just got going.
Tom recently revealed that an AIM company had apparently spent £40,000 investigating the background of a journalist on this site. I understand the revolting dossier included details of the writer, his partner and his Ex and his business. The report was trying to pin the leaking of this companies’ placings on an individual, and doing so in a very nasty way. I have not seen the report. Tom has it and has let me know the highlights. So, Mr David Bramhill, of Union Jack Oil (UJO), step forward and take the honours. You investigated me with your £40,000 Private Investigators. You, Mr Bramhill, are a xxxx — and I make no apologies for that language. You are Scum.
Having raised £4 million gross at 18.8 pence per share on 13 July 2021, the Bulletin Board Morons, although feeling somewhat sore given that the Tern (TERN) share price was 12.5 pence bid price at the close of business yesterday, might be consoling themselves thinking that, at least, the jam tomorrow specialists, won’t be asking for any more cash for some time. Sadly, that isn’t the case and I demonstrate below why they will very shortly be asked to stump yet more cash to feed the greedy board and its portfolio of loss making and cash guzzling investments.
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?
Abingdon Health (ABDX) will, no doubt, claim that its up to £6 million placing, open offer and Primary Bid offer at 25p is down solely to the DHSC not paying delayed bills. But then again this was a company that was technically insolvent before it raised £20 million at is IPO a year ago so, in my view, it has always been a basket case and I have explicitly warned you many times that a bailout was looming. For the record, this will not be the last one. So, who is next? Abingdon again or the other grossly overhyped covid dog Omega (OMX). But first a covid prediction…
In the past AIM-listed online ladies clothing purveyor Sosandar (SOS) boasted of EBITDA (bullshit earnings) in part because they were pretty close to real, bottom-line earnings and cash outflow. Not so any more! So we are told of EBITDA positive trading recently and the company boasts of revenue growth of 184% to £12.2 million, Gross Profits of £6.9 million, Net Cash of £7.4 million and that the EBITDA loss was £0.99 million in the six months to 30 September, So things are going gangbusters, right? Not so fast……
Horizonte Minerals (HZM) looks as though it has defied the odds and will actually manage to bring a large project requiring significant Capex into production, whilst at the same time retaining 100% of it.
The curse of former Tory MP, Tony Baldry of 3DM infamy just will not go away. When oily Tony joins a company, he will make a packet and the shares will tank. That is one of my golden rules of investing and slimy Tony’s record in this respect is unblemished. So to the latest warning from Westminster (WSG), a turd which Tony tries, and fails, to polish.
In August, McColls (MCLS) raised £33 million gross in a placing and open offer. Natch the crony capitalsts snaffled almost £3 million of that in fees which is perfectly understandable. FFS: Do you know what inflation is running at for upper class hookers and pure Charlie? Today there was dismal profits warning which begs the question of whether another bailout will be needed. Let’s do the maths.
As a reminder: Standard listed Wildcat Petroleum (WCAT) lied with its first RNS last December 31 about having raised money. It had not. It now has sub £200,000 left and, ceteris paribus, will go bust by Easter. Its June 30 accounts were promised for October and are still not yet out, with no explanation for the delay. Its November AGM has had to be postponed with no new date given. But in what appears to be blatant market manipulation, its shares are roofing it. Why will the FCA do nothing? Today we have news …
As you may recall, the business model of Vox Markets is that companies pay £15,000 a year to get interviewed by Justin the Clown who then asks the CEO whether he prefers Hob Nobs or Jaffa Cakes and whether his schlonger is ginormous or merely massive. The sort of AIM and Standard Listed companies that sign up, hope that such interviews can move the share price so allowing the next bailout placing. Maybe those companies have finally worked out that nobody takes the Clown seriuously and this business model is finally being rumbled. I see interesting filings at Companies House.
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!
Operator in Poland of pizza stores and restaurants and of the Domino’s Pizza franchise, DP Poland (DPP) has announced a £3 million placing it emphasises at a premium at 8p per share and with “it requires additional capital investment to implement its growth plan for further expansion and market penetration”. So what of a current 7.75p share price?…
Petrofac (PFC) shares have been good for trading over the past few years, assuming you managed to get your entries right, but the company has had too many potential issues to really have been considered an investment, unless you had a very high appetite for risk.
The shares are today trading at 29.5p, valuing this POS at c£58 million, but are slipping gently. The reason: Versarien (VRS) the AIM listed jam tomorrow stock run by serial ramper Neill Ricketts is, according to a City source, sounding out investors about a fund raise of £30million at 18p. The rationale?
The Oxymorons at AIM Regulation, led by the hapless poltroon Mr. Marcus Stuttard, the bogus Sheriff of AIM, like to claim that they have created the world’s most successful growth market. But the events of the past two years at Eurasia Mining (EUA) have shown that those who want to run rings around Marcus and the clowns who work for him don’t have to try too hard. I have written to Marcus and his colleagues about the farce at Eurasia and the supposed bid talks. Enough is enough. Will AIM Regulation force a statement? The answer to that one may involve myself and Ms Cheryl Cole.
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.
Anglesey Mining (AYM) the ultimate jam tomorrow mining penny dreadful is today boasting of how it has raised another £768,230 at 3.4p a discount of just 5.6% to the close yesterday. Whatever you say chaps. The money will be used to do more exploration work mainly at the Parys Mountain hole in the ground in Anglesey and, of course, to pay those vital PLC costs.
I should have mentioned this in bearcast yesterday, the maths is clear and unchallengeable. Abingdon Health (ABDX), a company I warned you about at IPO as it was insolvent and the valuation absurd, is pumping its stock via the yellow journalists on the Daily Mail and the Telegraph ahead of a bailout placing. You know the score: mug punters overpay in the secondary market ahead of a placing at a vast discount to fund managers.
It has been three months and ten days since places in a £10 million offering at 30p from AIM listed Deepverge (DVRG) got their stock. At mid they are now 25% down with the shares at 22.5p. Folks who took part in the placing were misled by the company as to its trading position as it breached AIM Rule 11. I have again written to AIM Regulation demanding that formal action be taken. That letter is below. Meanwhile should punters hang on?
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:
As with most junior miners, this one told us little of note in its interims today. But yesterday, Standard-Listed Panther Metals (PALM) announced the commencement of drilling at its Dotted Lake property in Ontario, Canada. The campaign with the drill-bit is to be short, with just a single hole planned, but the plan is for a 400m hole to be drilled directly below a historical trench previously excavated in 2010 which threw up some promising samples. Of course, at this stage it is a jam-tomorrow prospect but the drill bit might just prove it is a little more than that and we should find out fairly soon.
Yes, you read that correctly, the US ADR placing of Argo Blockchain (ARB) involved ELEVEN different brokers. Jefferies, Barclays, Canaccord Genuity, Stifel, GMP, Compass Point, D.A. Davidson & Co, Ladenburg Thalmann, Roth Capital Partners, finnCap and Tennyson Securities are the team batting for Argo and will no doubt boast that they raised £82.4 million having targeted just £75 million. But…
I have an update on the Union Jack (UJO) placing which I forced it to ‘fess up to last Friday and I can now reveal that worthless ramp Wildcat Petroleum (WCAT) is now seeking fresh equity at almost any price. At 1p, a £21 million market cap is about £21 million too high in my book. I also discuss Jubilee Metals (JLP) and Mark Slater and that links nicely to an IPO I am dodging and I explain why I am passing on what appeared a likeable and competent team. Finally, a detailed look at perennial dog Mirriad (MIRI) whose shares are – despite slipping 10% today – still a stonking sell.
The 26p per share £11 million placing on Monday by Eurasia Mining (EUA) may open up not one but two cans of worms and I have written to my chums at the FCA asking for an investigation on two counts. The letter is below:
This website has made no secret of its cynical take on the valuation of one of Neil Woodford’s most controversial investments into Acquis lobster-pot listed Rutherford Health (RUTH), formerly Proton Parters. There was a tiny investment made at its IPO allowing Woodford to mark up his original investment heavily, but since Woodford held all the cards apart from Rutherford’s management, there was nobody to sell and thus the apparent price was, we argued, totally illusory. We predicted problems when the cash ran out……
In my last piece on AIM-listed Haydale (HAYD) at the beginning of this month I discussed a ramparoonie RNS revealing an undeclared related party and a tin-pot organisation casting a very different light on matters as presented by the company. What was the point? Of course – it was a pre-placing ramp and this morning it was time for Ouzo on cornflakes as Haydale revealed a fundraise at just 6p per share. That, against a peak last week of 7.55p.
The recent share price movement on Eurasia Mining (EUA) looks even more dodgy now in light of today’s announcement of a placing, and I would be surprised if there hasn’t been some forward selling going on.
Jubilee Metals (JLP) has been stressing how profitable it will be this year and how next year it will be so profitable that it could pay a dividend. Obviously with Colin Bird as chairman talk of profitability and dividends can only mean one thing. Yes….its another placing! Knock me down with a feather. But this one begs two big sets of questions:
On 3 September AIM-listed Angelsey Mining (AYM) released predictably horrid full year results to March 2021. This morning it has graced the market with an RNS entitled Financial Results and way Forward. Confused? I was……until I realised this morning’s missive didn’t include the full results!
AIM-listed jam-tomorrow investment company Tern plc (TERN) has announced a portfolio update…..and that it has piled another £630,000 into its portfolio. But that seems to be about the only number offered.
Another day and another announcement from Argo Blockchain (ARB) the company that is spending $17.5 million buying some Texas scrub land worth $168,000. It is more green hype which might impress some of the ESG loving millennial fund managers who Chris Bailey is keen on, but cash guzzling Argo refuses to address the herds of elephants in the room.
So says Fleet Street legend Brian Basham. Given that Brian has accused Vast’s (VAST) board of malfeasance and repeatedly called on the useless regulators to act against the company I doubt he has its best interest at heart. This is one case I would love to fight so bring it on Vast: see you Bitchez in Court! So what is Brian’s point?
Back in April Vast Resources (VAST) managed to persuade shareholdcers to approve a 100-1 share consolidation by telling them a stack of blatant lies, lies which have been shown up with news today of yet another discounted placing.
The proper way to respond to the Boatman dossier was via RNS but that needs regulatory sign off so the fellow who dumped millions of dollars worth of shares at 243p just a couple of weeks before Argo Blockchain (ARB) did a major placing at 200p recorded a video which you can see below. He covers the “report” but does not name it just in case folks actually are encouraged to go read it. It is a poor rebuttal.
As I had hoped, fully listed Esken (ESKN) has updated the market this morning on Friday’s Red Flags at Night announcement that Ryanair is departing from London Southend Airport. Good news…..well, up to a point.
The name Andalas Energy will be enough to send a shiver down the spine of investors who had high hopes for the company, before getting shafted, but the new company that is has evolved into, Advance Energy (ADV), looks very different.
AIM-listed Cretan holiday resort developer Minoan (MIN) released interims numbers to 30 April yesterday morning. Today we have a placing raising £350,000 in cash (before expenses) and a further £99,600 in lieu of certain liabilities. The matters of interest, of course, are not the numbers but progress with regard to monetising its assets at Cavo Sidero. Has there been any movement?