Well there’s a thing: ShareProphets AIM-China Filthy Forty stock Aquatic Foods Group (AFG) is still having trouble remitting funds from China resulting in the delay of payments to a number of parties whose assistance is required for the finalisation of the audited accounts. In short, the company can’t pay its bills and the shares have been suspended.
Yesterday lunchtime (1pm – the new no-one-is-watching o’clock) ShareProphets AIM-China Filthy Forty purveyor of all things fishy, Aquatics Foods Group (AFG) served up a Q1 trading statement showing broadly flat sales, but rising costs. The really good news is that the cash-pile is even higher than before, at RMB 485 million – c. £54 million, or about five times the market capitalisation. The bad news….
ShareProphets AIM-China Filthy Forty purveyor of all things fishy, Aquatic Foods (AFG), has updated on 2016 Q4 trading this morning. In a statement plastered with Red Flags it would appear that the company is nearing the final chapter of the China Norfolk playbook as we are warned that there has been a spot of bother getting cash out of China. Is it bye-bye to the dividend?
Shares in ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) put on 35% on Friday, following release of a third quarter trading update. Drilling through some of the numbers they seem to be impressive, begging the question of why an apparently profitable and cash-generative company which is drowning in cash worth about three times its market capitalisation would be considering its dividend policy, having chopped the half-year payment by 71%.
Oh dear, oh dear. This does not look good. ShareProphets AIM-China Filthy Forty China fraud Aquatic Foods Group (AFG) has announced that it hasn’t paid its full-year dividend of 0.7p per share due to a “technical administrative delay”. Is that because there isn’t any cash?
There are so many Red Flags surrounding ShareProphets AIM-China Filthy Forty Aquatic Foods (AFG) that it is hard to know quite where to start. One could consider the discount to cash, to profits, to assets and wonder why there have been no buy-backs announced just for starters, but there are plenty more to be found HERE. So why have the shares been roofing it?
This morning ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG) released its calendar FY15 results. This is a complete farce and AIM Regulation should be ashamed, for that is where the real scandal lies.
ShareProphets AIM-China Filthy Forty play Aquatic Foods (AFG) released a trading statement yesterday for its full year to Dec 2015. I commented that the last trading statement had more holes than a fish-net and yesterday’s serving of fishiness lowers none of the Red Flags previously raised.
Following on from yesterday's piece on ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG) we see that the shares are still sliding. Drip, drip, drip - the Chinese water torture continues.
Tom Winnifrith has already done an open-top bus ride around all the Red Flags flapping away at ShareProphets AIM-China Filthy Forty play Aquatic Foods Group (AFG). But if the Red Flags are enough to drive you towards the sell button there is another problem: the spread is now so wide that it is equal to the bid price. Talk about being lobster-potted.
