UK 14:36 Monday, 26 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
After working on reviewing the fraudulent accounting policies of Quenron (QPP) for almost three months – as long as it takes to do an audit – Quindell still cannot publish the PWC report. It promises that it will do so in “another few weeks.” The statement released today is a disaster but for those who need assistance I shall translate what it says into what it actually means.
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Comments
DUCK AND DIVE
Pretty good translation, I fear. But why hasn’t the SP dropped by 25% this morning? Don’t the muppets know how to read an RNS?
Ben
Tom
Thanks for your entertaining assessment. Agree with your comments but please try not to sink so low as to have a swipe at the HR manager – it weakens your analysis. Watching the developments with interest!
LOL@QPP
Tom,
Can you have a look at the various companies and speculate on which Quindell would want to sell, dissolve, or continue with? (We all know that it will function at best as a shell of its former self)
boggle
clearly the insiders are selling and private investors are buying, has anyone got the time to compare the share register say two months ago with the latest version and identify the top 10 reductions excluding obvious nominee accounts.
zeronegative
So PSD is a fantastic part of the company but they’ve decided to sell it, for an unknown price. Why would you sell a division making hundreds of millions of profit each year, with 45%-55% margins, and keep a technology division which hardly makes any money. I see the LSE asylum has concluded that this means everything is OK and confirms what a fantastic business QPP is.
I guess QPP need the money as they have stated that they are making £300million profit this year which means that they will have to pay £60million+ to the HMRC.
Any guess of the Quindell Echo/Beanos’ latest headline….
“Why delay in PWC report is great news for Quindell”
turbograndad
Tom,
What can I say, my chrystal balls called it right, see yesterday about what might happen, re PWC , though must admit it was not a tough call to guess that they would delay, with all the usual blather.
What amazes me still are the morons blind faith, they take moron to a whole new level, who would have shares in at 92/95p approx yesterday at such a time, unbelievable.
SD
Why has this stock not been suspended? They have now clearly admitted they do not know their financial results. Surely the 2014 interim do not stand any longer.
turbograndad
Boggle,
The biggest insider bailed some time ago if I remember, I think he was called ermmmmmmmmmmm Rob Terry, thats it.
wolfcastle_22
Methinks the reason it has not tanked yet is this will rise to the 120’s+ over the next week or two to allow all and sundry to jump ship whilst more rats pile in on the jam tomorrow…..I hate to see all those mug PI’s lose their cash (normally would) but when you read that BB on LSE and the crap talk going on then I wish them to lose everything, they are naive, vulgar and delusional and have no respect for others views, even when you tame down your posts to say it’s going tit’s up in a nice way they still shout “Troll…Deramper….shorts will burn”….it’s playground bully stuff and they need to be brought back to earth……..with an almighty bump
Mac
I hear the sound of a kitchen sink being prepped for the skip…
Forty Two
If I was a “consultant” wedged up on options in this POS with an ability to influence the time value and indeed vol of those options and was of dubious moral character I too would seek to extend the former with delays to the PWC process and increase the latter with bollocks statements. However, if I can’t sell ‘em and there is no chance of them staying above strike I might remind myself of Sisyphus and the punishment for chronic deceitfulness. Keep pushing that boulder boys…
Pauly Walnuts
Wolfers,
I wholeheartedly agree with your take on the LSE BB.
After reading that site over the last few months, a good deal of my faith in humanity has been lost.
Can’t be arsed going into the myriad details of unpleasantries that I’ve seen, suffice to say that there seems to be an inordinately high number of shitbags invested in QPP.
Vive le PWC report. Bring it on. Eventually.
Invetigate
Still do not know why the RNS today was not released on 23 February (as they would of know PWC were going to need extra time).
So cute the extension on SGH exclusivity till 31 March.
When will London Stock Exchange act.
Jock
Your interpretation is bang on the money as usual Tom.
However, as Forty Two mentions there is the small issue of Richard Rose and Jim Sutcliffe . These chaps were hand picked by Rob Fielding/Rob Terry. As such, Rose and Sutcliffe must know Quindell is a wholesale fraud.
Sutcliffe left a respectable number at the Financial Reporting Council to join Quindell apparently on the promise of quick money in the shape 10.9m options.
60% of the 10.9m granted options vest on 15 July 2015. 40% say 4.4m at 68p. This would imply that Sutcliffe has 4.4m reasons to keep the share price above 68p- i.e. drag out the eventual writedowns for another 5 months. But even the morons would see through that, surely! Seems a smokescreen to me.
So why are Sutcliffe & Rose there? Have they sold a POS company into the group as per standard procedure? Is there a more elaborate slight of hand at work, or are we to believe that the premise of ~£200k in consultancy fees for next to no effort is attractive to them? Does anyone need cash that badly?!
It sure strikes as odd.
Bananabob
Tom
3 months!….wow
Perhaps you’d of been better putting all that effort into your pizza cafe.
Those tripadvisor reviews are obviously taking its toll now. I said before Christmas my money was on you going bust before Qpp
I see no reason to change my stance on this
Tom Winnifrith
Bob
So yu appluad and congratulate those who post bogus reviews. What a wanker you are.
As it happens RMPC has net cash and is both profitable and generating cash despoite the efforts of jihadists such as you to put us out of business. The restaurant is thriving and so just fuck you.
QPP on the other hand has net debt and is burning cash. I truly hope you have bet the ranch on it
T
Legal Eagle
Your interpretation is a MILLION MILES from the truth as always Tom, which you will see when the £700M deal to acquire is confirmed before the end of March. FACT ….. Sweet Dreams to you and your sad shorter friends you should have given up when you achieved your goal of ousting Mr Terry , reality is, just because he made some stupid mistakes, it doesn’t automatically follow that the business is a pile of rubbish, which it absolutely is not, and that I know for a FACT as do PWC as do SLATER & GORDON.
This one you have got horribly wrong, which will be proven in a matter of no more than 31 days!
THE END
Sweet Karolina
So Legal Eagle confirms that QPP have told a complete lie in the RNS:
“There can be no certainty that these discussions will lead to an offer for, or the disposal of, the Professional Services Division.”
“when the £700M deal to acquire is confirmed before the end of March. FACT “
Legal Eagle must be right therefore there is absolute certainty, he even knows the price that the deal will be done at, so why are QPP lying about this?
winsime147
Legal Eagle,
It probably takes a seasoned investor with many years experience to realise that there is only one way this type of company is heading. It is so, so obvious. If it looks like a duck….
TW has not backed up all of his many claims with proof but he has backed up most of them. You have not backed up any at all. Nothing but hot air so far but should keep you warm if you have no money left to pay for the heating.
I have no position in Quindell but I follow the bears and the ‘morons’ to study the whole market phsycology angle but it is also very entertaining.
Will be interesting to see who is right eventually. If I was given odds of 100:1 that QPP will be above 30p by summer I wouldn’t punt on it.
David Garvey
Whether Tom W is right or if Rob Terry actually put together a workable and cash generative business will become apparent in the next few months. I hope for the sake of shareholders, RT did as advertised.
If interest in acquiring the Legal Services is a bogus sleight of hand by a desperate company, I think S-G would have refuted their interest ( unless TW is also accusing them of fraud). If an offer of 700m or even 600m is made, the fiction that QPP is worthless (TW puts a 10p value on the company) is blown out of the water.
99% or the posts and idle speculation iare just that, and when either SG reveal their intentions or the year end accounts are out, we will all know the companies real value.
turbograndad
Legal Eagle/Banablob
Anyone looking up the definition of fuckwit, you have it here folks, read their posts, thanks boys Friday night laugh, I nearly wet myself, you have the combined mind of a kitten.
MS
Jock, –
Jim Sutcliffe (I suggest) is stock between a few different pots of gold.
This paragon of corporate governance virtue stands to make a decent wedge either way.
Share price stays high = options, ker-ching, and increased revenues from QPP going to the consultancy where he is a director – double ker-ching.
Stock price collapses = consultancy where he is a director can rake in fees. single ker-ching.
Either way, it seems something of a ¨related party transaction¨ for this to be going on, with something of a potential for conflicts of interest to arise.
Tom, perhaps you can find out if all this consultancy work is being done on an arms length transaction basis, whether it is getting the same terms of trade as other suppliers to QPP, whether it should be reported as a potential conflict…….(etc)
To supplement the work of Richard Rose and Jim Sutcliffe, the Board has today entered into an agreement to receive consultancy services from BaxterBruce Limited (“BaxterBruce”), a consultancy firm of which Jim Sutcliffe is a Director.
Phil
Bananabrain
Everytime you and your disgraceful SAG ramp this share for all your worth with your own money, I run hedge calls against a short position, for no risk gains to such an extent, that the number of points gained on those calls already exceeds the total points from the short position.
So thank you and please pass my thanks to all your action group, from my bottom of my heart to the top of my wallet, keep up the good work, they and you are just so frigging easy
Sweet Karolina
David Garvey,
I believe S&G are genuinely interested in cherry picking QPP’s NIHL cases to put into the Welsh firm they bought a little while ago that does NIHL.
I also believe S&G are genuinely interested in seeing if they can pick up a whole lot more than that for a song when PwC exposes how bad things really are and QPP is desperate to sell at any price just to keep the lights on and the gravy train for the directors going a bit longer.
I believe S&G are genuinely not stupid
I believe S&G are not going to shaft their own shareholders by ingesting a load of poison
I Believe S&G are genuine in their desire to spend no more than £130M on acquisitions this year.
I believe S&G have made all the above pretty clear to their shareholders.
I believe S&G are nothing like QPP and do not routinely lie to their shareholders.
filthy lucre
Are there no depths to which you will not sink in your vendetta against Quindell Tom?
Personal attacks on company employees, such as the HR manager, are appalling and beyond the pale.
Free speech is one thing, but you behave despicably.
Paul Scott
Hi Tom,
I think there actually is some value in QPP. The thing which was interesting, is that in the Slater & Gordon (SGH) results audiocast, during the Q&A, when asked about Quindell, the CEO of SGH said something that really made me sit up & take notice – namely that he said QPP’s problems did NOT stem from there being anything wrong with its legal claims business.
I’ve also had this confirmed from two other sources who know the sector very well – i.e. that apparently there IS something salvageable within QPP,
That said, I can’t see why investors would want to take the risk. Taking a complete punt on QPP seems very high risk to me at this stage. Whereas looking at results from REDD this week, it seems they are a far better bet than QPP – Redde seems to operate in the same personal injury space, but without any of the balance sheet & cashflow problems that brought QPP to its knees. Indeed REDD seems an absolute cash machine, throwing out bucketloads of cash, and paying generous divis. Its debtors are very short compared with QPP, and they don’t seem to have taken on any questionable, long-term business like QPP’s NIHL claims activities.
So on balance REDD seems altogether a far more sensible bet.
I also note that Fairpoint (FRP) has made some acquisitions in the personal injury legal space too, and also looks cheap & pays excellent divis. It’s altogether a rather grubby sector, but to my mind REDD and FRP seem a far better bet than the muddle which QPP has become.
Regards, Paul.
David Garvey
Sweet Carilina
I note your comments are your “beliefs” and have little to do with the facts. S&G via RNS confirmed they are doing due diligence, haven’t made an offer, and will update shareholders in due course.
Time will confirm their intentions and I prefer to wait for real news rather than believe idle speculation from a unnamed poster who may have their own agends.
Legal Eagle
Dear TURBOGRANDAD,
The proof of the pudding will be in the eating.
When the time comes I shall send you the address for your apology.
As for fuckwit, read your own posts, you have the intelligence of an Amoeba , and simply hang on every word of others here without having your own opinion backed up by any fact.
You Old Chap are the fuckwit, which will be proven within the next 31 days.
TTFN
Sweet Karolina
Paul,
I agree with you, SGH are not daft and will no doubt exploit the opportunity to suck out the worthwhile bits for as little as they can get away with. Whether that little is enough for QPP to survive with the good bits sucked out is the question, I suspect the answer is it will stagger on at a fraction of current shareprice by exploiting BBMs to issue confetti for about another 12 months or so before it finally gets put out of its misery