No! This is not an April's fool. Many of our team have been incredibly critical of Milestone (MSG) for several years. It has been the sort of lifestyle/joke company that has given the AIM Casino such a bad name and that is why you can buy its shares for just 0.13p. We admit that this is high risk but try to look through the front windscreen not into the rear view mirror.
I see that AIM-listed Milestone Group (MSG) has had its shares marked down below their nominal price of 0.1p today: they are now 0.09 – 0.1p bid to offer. Given that the company has a desperate need for cash, that’s a problem – especially when it passed on the opportunity to put resolutions for a capital reorganisation to its forthcoming AGM.
I had a flick through the 2017 Annual Report released by AIM-listed Milestone Group (MSG) yesterday. Having noted the missing auditor’s statement in the results RNS, let’s see what it says.
Yesterday afternoon two RNSs came out from AIM-listed Milestone Group (MSG). At 4pm we were notified that the 2017 Annual Report had been published, as had the AGM Notice. But at 3.07pm a rather more interesting announcement was issued regarding Black Cactus. Yes folks, that’s the one we’ve been waiting (and waiting and waiting) for. You will no doubt remember that Black Cactus is the outfit of Larry (who has not got an Oxford Maths Degree) Cummins, and that Milestone had agreed a deal with it whereby it would get a few quid in commission and new shares worth 29.5% of the company. Now we are told:
AIM-listed Milestone Group (MSG) has this morning posted the most awful set of results. Having been on the AIM Casino since 2003, the company clocked up losses of £2.26 million on revenues of a paltry £24,640. Retained losses stood at a jaw-dropping £33 million and the audit report (needless to say, missing from today’s RNS) contains, we are told, a material uncertainty paragraph. I should coco.
Way back in November 2016 I first commented on the fiasco at AIM-listed Milestone Group which eventually saw then CEO Deborah White handed a black bag. This was the placing, first announced in October 2016, where the £1.25 million of cash never arrived and which the company sat on news of non-payment until it ‘fessed up on the day Donald Trump won the Presidency. It was a good day to bury bad news – but as ever, ShareProphets was watching. Well, the cash STILL hasn’t arrived, even on the much reduced 10p in the £ compromise terms announced on 22 January this year and I think the company has again been tardy in passing on the news.
Milestone Group (MSG) has announced a memorandum of understanding with Seed Media Limited and Martin Heath with a joint venture that is intended to be owned 50.5% by Milestone. The proposed deal has two things in common with the proposed deal with Black Cactus namely that underlying technology to be used is Blockchain and the fact that Seed Media like Black Cactus is technically insolvent and loss making.
On 6 December 2017, Milestone (MSG) announced that it entered into a software license agreement with Envoy Group Corp (soon to be renamed Black Cactus Global, Inc). Yes that is the company run by serial teller of untruths Lyin' Larry Cummins.
AIM-listed Milestone Group (MSG) has been up to its neck in controversy for over a year now, but I wonder if the company has had some bad news it hasn’t quite got around to sharing. This is regarding its blockshain spoofery (oops), I mean its software license agreement with Black Cactus Global Inc (Envoy Group as was) which we were told it had entered into on 6 December.
I do not always agree with Richard Jennings of Align Research. He is 100% right about cats, 100% wrong about Israel and on all other matters he sits on the spectrum between those two extremes. But his latest missive to the FCA is bang on. I share his frustration.
With Milestone Group (MSG) still unable or unwilling to put out an announcement to its shareholders about its relationship with Lyin’ Larry Cummins, I thought I would keep the pressure on with a couple of snippets that I find amusing about the fraudulent front of the man. I mean he’s not a writer, gardener, ballet dancer or boxer from Boston but I still find it amusing.
That Larry Cummins of Black Cactus is a proven liar is now widely accepted. What is stunning is that AIM listed Milestone (MSG) whose entire market value is based on the belief that a deal with Black Cactus is worth something has failed to comment. Maybe the Securities & Exchange Commission in the US will force its hand.
Larry Cummins of Black Cactus and Milestone (MSG) infamy has in SEC filings and - until yesterday - on LinkedIn and on the Black Cactus website claimed to have a BA from Oxford. We have now double sourced this with the University and can now say it straight: Larry you are a fucking liar.
Black Cactus which is run by proven liar Larry Cummins (BA Oxon NOT!!!) is clearly critical to Milestone Group (MSG) which - without BC - is pretty much worthless. We suspect that even with BC Milestone is sunk so let's go to Companies House shall we?
Further to my weekend expose on Milestone Group’s (MSG) saviour, Larry Cummins and his dubious CV, I couldn’t help but notice that Larry suddenly seems to come over all immodest and has removed all signs of his incredibly impressive education from his LinkedIn and corporate website. Why could that be?
Yesterday we accused key Milestone Group (MSG) player Larry Cummins of lying about his educational achievements. Cummins has told Align Research, a supporter and shareholder, that our article was not true. He has "denied" it. Align has thus urged Milestone to make a statement and has again urged it to comment on today's article about Adrian Towning. You can see the tweet from Align below. We urge Milestone to proceed with extreme caution on this matter...
In his expose yesterday, Cynical Bear raised several questions around the probity of Larry Cummins the CEO of Black Cactus Holdings group. I am sure that Milestone (MSG) is rushing to clarify whether this key player has a bogus CV. Perhaps while it is at it it might clarify something about another of the four key players at Black Cactus, Adrian Towning.
