In an extraordinary announcement this morning, AIM-listed Vela Technologies (VELA) has announced that it has just discovered that – unbeknown to its Board – it had apparently invested £300,000 into Aquis-listed TruSpine (TSP) as part of a subscription announced by TruSpine on 31 May 2022. What???!! And then this afternoon a clarification.
The fallout from January’s much-delayed AGM and sack-the-board EGM still continues. Whilst the Board survived, the rebels – with ShareSoc in tow – have again cried foul and it remains to be seen how the situation can be resolved.
Last night at 5.11pm – no-one-is-watching o’clock – AIM-listed URU Metals (URU) ‘fessed up that it had taken a C$950,000 loan from CEO John Zorbas last June. That, of course, is a related party transaction which therefore should have been disclosed but rules are for little people…
I have been watching Companies House with interest recently, regarding AIM-listed jam-tomorrow internet of things investment company Tern plc (TERN) and its principal investee Device Authority (DA). Following news of the bailout investment of yet more cash into DA, I have a few questions. Call be a pedant, but……
Yet more red faces for Andrew Monk and his team at VSA Capital which launched this abomination on the stockmarket and still acts as its adviser. But I guess that coke and hookers don’t pay for themselves and a man’s got to do what a man’s got to do. What a total shambles! Sub-Standard-listed AIQ (AIQ) has announced the result of its strategic review this morning – this as a result of the disastrous reverse takeover of Alchemist Codes to add to the original and equally shambolic IPO on the sub-standard list back in 2018 which saw the stock suspended for most of its first six months on the market.
Sub-Standard-listed AIQ has had a chequered history since it floated on the London Stock Exchange courtesy of Andrew Monk and VSA Capital. The founding executive directors’ full details had not been correctly disclosed, there was the mother of all shambles as IPO share certificates failed to arrive in a timely manner and at the same time a buying frenzy – perhaps by people who thought there was a relationship to Mama Captain (denied), the stock spent most of its first four months as a listed entity suspended and even a placing to address the IPO shambles was messed up. Meanwhile, the stock was trading (when not suspended) at a ridiculous premium to cash, with no business.
Gary Newman was – quite rightly – never a fan of AIM-listed oiler Block Energy (BLOE) – despite its apparently large fan-base on the Bulletin Boards. Now, it seems as though some shareholders – apparently representing around 20% of the stock – have had enough. I gather they want to know what is going on, but can’t seem to get management to engage. Given the apparent shambles, it is hardly surprising.
Neil Woodford cash-hungry dog Atom Bank has produced its Annual Report for the year to March 2019. As you can see HERE it is a beautiful document full of nice pictures and lots of blurb to keep the sheep happy. But no amount of presentation can hide the truth: it burning cash and – incredibly – lending at a loss! That’s not a business, that’s a charity!
In one of the most bizarre listings the UKLA has allowed through, AIQ (AIQ) got onto the Standard List in January, only to be suspended three days later. The shares had gone mad, rising to 125p at suspension despite being a simple cash shell having raised money at just 8p. It seems that there were buyers but nobody could sell as their shares were paper certificates which had not arrived. But there were a few other matters too.
On 11 October AIM-listed Rurelec (RUR) put out an announcement regarding a possible offer led by former head honcho Peter Earl and involving a company which was named as IEH Limited which may or may fund the deal. Yesterday a company called InterEnergy Holdings said that it thinks it was the company referred to as IEH Limited, and that it has no intention of making as offer – and there is no comment at all from Rurelec.
Old Lawson may still be pursuing a ridiculous claim against me for libel, he noted this week that he had another meeting with his lawyers, but credit where credit is due, the old fool has nailed the shambles last week at Barclays (BARC) stockbrokers perfectly. And in a posting on the ShareSoc blog he gives advice on what to do if you have been jerked around. This is an example of the good work he can do when he is not distracted by falling in love with companies such as Globo. Over to Lawson:
This is an utter shambles from AIM-listed Premaitha (NIPT). If you are going to go to the trouble and (shareholders’) expense of putting out an RNS to highlight some paid-for ramping research by Hardman, at least get the bloody RNS right! Tom Winnifrith has already had a furious rant that the company’s Broker, finnCap, should be sacked. Is the same true of the PR genii behind today’s abject efforts?
What a total joke. Daniel Stewart (DAN) the AIM-listed (for now) Broker (and ex-Nomad) has published its interims for the half year to Sept 30 2015. It has managed this even though its FY numbers to the previous March are still not published and so anyone unfortunate enough to be left lobster-potted in this disaster story has not had the benefit of an audited set of numbers for any period since March 2014.