Yesterday Powerhouse Energy (PHE) published its calendar 2025 annual report audited by Barnes Roffe Audit Limited. There is no material uncertainty warning. There should have been. As I discussed HERE Barnes Roffe has not shown any professional scepticism with regard to management forecasts. I have written to my good pals at the Financial Reporting Council.
The CEO Paul Emmitt is moving on for family reasons and Powerhouse Energy (PHE) has served up results which are predictably dire and show that only congenital; idiots would want to own the shares. The real question is what exactly is Jamie Hall, the auditor at Barnes Roffe Audit Limited smoking for there is no material uncertainty warning. Do the maths and have a butchers at calendar 2024 accounts while you are at it.
It was only just a smidgeon over a month ago that cash guzzling perma dog Powerhouse Energy (PHE) raised £650,000 at 0.2p to keep the lights on with the scholars and gentlemen round at Turner Pope doing the honours.
Powerhouse Energy (PHE) says that the WRAP Retail offer at 0.2p was oversubscribed so it has raised the full £250,000 sought to top up the £400,000, before costs, placing of last week. It did this by misleading mug punters who will now be raped by a material uncertainty warning within two months.
Yesterday. Powerhouse Energy (PHE) announced a £400,000 placing at 0.2p and a WRAP Retail Offer to raise up to £250,000. If punters knew the truth about Project Noble they would realise that the WRAP Retail offer will see punters raped. The FCA and AIM Regulation should be all over brokers Turner Pope.
Oh for the days when disgraced former Tory Minister Tim Yeo, Zak Mir and other charlatans ramped Powerhouse (PHE) with tales of how it could be running hundreds of waste to energy plants each chucking off half a Bernie a year in profits. Those were the good old days, it may have been a pack of lies but the shares flew and thus was a true AIM posterboy. How the mighty are fallen.
Powerhouse Energy (PHE) has today announced that a new research report has been released on its shares from Longspur Capital, its joint broker. Follow the bread crumbs. At 0.355p, down on the day, the market cap is £17 million and these shares can and should be shorted.
Earlier this week Evil Banksta had the bombshell expose that Powerhouse Energy (PHE) still had not proved that its IP works. As it is rapidly running out of cash that is a massive issue and is why at 0.625p,a £27 million, market cap this is stonking short. Zak Mir has in the past been a paid PR man for Powerhouse. At other times he has promoted the shares with ludicrous forecasts while not declaring the brown envelopes. To give you an idea of what a scam Powerhouse has been…
Yesterday’s article from Evil Banksta on Powerhouse (PHE) was damning. It cannot show its product works, it is rapidly running out of cash and, at 0.65p, a £27 million market cap is a complete rum ‘n’coke. Powerhouse has not responded, its silence screams out at you and you should be short. This could be a zero. But Evil now tries to make a second point. Liverpool’s greatest numbers man since Ken Dodd writes:
Last Tuesday Powerhouse Energy (PHE) held a Capital Markets Day at its facility in Bridgend, South Wales. As tempting as the offer to visit Wales was I didn’t attend (but I look forward to seeing all of you at Tom’s Welsh hovel in September). Judging from the photographs and videos in the Telegram Group, about 40 investors attended to watch Powerhouse demonstrate its Distributed Modular Generation (DMG) Waste to Energy technology. The demonstration was a failure!
I am not saying that the scholars and gentlemen at Turner Pope are angels. But one suspects that after more fund raises for Powerhouse Energy (PHE) than I have had inappropriate thoughts about Cheryl Cole, the end of the road has been reached.
In my two sells of the year for 2024 article on this website Bens Creek (BEN) got an honourable mention and I am delighted to see it now go into liquidation. More ouzo for TW and here is another idea as a short. It is one where Lucian Miers is already short.
There is no material uncertainty warning with these numbers but it must have been a pretty marginal call, hence the surprising placing last Autumn. These calendar 2023 numbers, if you look beneath the headline turd polishing, are truly appalling.
