Two years ago after a bout of shameless ramping involving IR genius Steffi a certain Manchester based blogger and the company, shares in Online Blockchain (OBC) touched 200p at which point low life broker Smaller Companies Capital organised a £1 million placing at 100p.
I am a proud confirmed Luddite so need your help in explaining the business model of Clem Chambers’ Online Blockchain (OBC). You see he is beta testing a new product: FreeFaucet.
The full year results from Online Blockchain (OBC) do not look that terrible until you compare them with the interims at which point you start to ask just when will the money run out. This statement is terrible and, understandably, the shares – 200p at peak ramp earlier this year – have slumped another 3p to 22p-27p. Ouch.
I make no comment about the latest outing by the boss of Online Blockchain (OBC). You will see in the declaration that I don't own the shares and that is not likely to change.
Currently it seems that the mere mention of cryptocurrency or blockchain can drive investors into a frenzy, with people thinking that the new Bitcoin is about to be born, when the actual reality is that most of these companies will ultimately fail. It seems to be a bit of a ruse that is being used at the lower end of AIM, whereby the company announces some sort of involvement in this field, knowing that it will gain some interest as a result.
It is advertised all over ADVFN with - I assume - Online Blockchain (OBC) paying the full commercial rate. But here's a promo for free. How would you want free pizza with PR bird Steffi and the entertainment provide by ADVFN (AFN) and Online boss Clem Chambers. I say entertainment - have you seen this video below?
The Nomad is Roland "Fatty" Corniush, the most incompetent financial adviser in the known universe so, on that basis, Clem Chambers blockspoof Online Blockchain (OBC) must feel under no obligation to tell the truth as it places £1 million at 100p. This is the stuff of peak bull market insanity.
