UK 15:43 Monday, 26 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
I spotted a company over the weekend which has negative net assets, negative current assets, is burning cash and says that it is an investment company. I shall not reveal its name yet but if one works out the NPV of such an enterprise it has to be less than nil. Is it the most worthless company on AIM? Have you spotted a company that deserves this prestigious title? Enter our latest competition.
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Comments
Scott Marshall
Not sure about the investment company bit, but Totally PLC (tly) fits the bill. You must have been having a major off day when you tipped it.
Negative assets, current ratio and cash outflow
mark jackson
It has to be Worthington.
Negative net assets
The law suits will prove worthless
Massive pension liability
No cash, or access to cash.
No competition.
drunken sailor
Had you run this competition a few weeks ago I could have won hands down with TXO, especially stripping out the goodwill in their investments. But as they delisted from the Casino a few weeks ago I can’t enter them.
CTFA is another massively sad case that is suspended and will be booted off the casino in about 2 weeks so I could still enter that as it is still an AIM listed company for now. A few sad quotes from recent announcements:
“Since my appointment in September I have been reviewing all aspects of the Company’s activities since it became an investing company. As part of this review it has become clear that the Company’s systems and procedures have, at times, been less than satisfactory and the Board have undertaken a detailed review of the transactions that the Company has undertaken in: i) the period from the Company becoming an investing company to 31 March 2014; and ii) the period since 31 March 2014. As a consequence the Board is seeking the refund of certain sums which have been advanced to a number of parties.”
“Following the failure to implement the Company’s investing policy within 12 months of the Company becoming an Investing Company, the Company’s ordinary shares were suspended from trading on AIM. In accordance with Rule 15 of the AIM Rules for Companies the Company’s ordinary shares will remain suspended from trading on AIM until such time as the Company has sufficiently implemented its investing strategy or undertaken a reverse takeover. Any proposed reverse takeover would be subject to the approval of the Company’s shareholders.
Given that the Company has largely spent its cash without fully implementing its investing policy it is likely that the Board will pursue one of a number of reverse takeover opportunities being currently evaluated. In consideration of this the Board is currently also in discussions with regards to the sale of its existing investments in companies utilising graphene technology. If the Company’s investing policy has not been implemented or a reverse takeover has not been completed by 23 April 2015 (being six months from the date of its shares having been suspended), then admission of the Company’s ordinary shares to trading on AIM will be cancelled at 7.30 am on 24 April 2015.
The Company’s financial position at the time of the interim results was constrained and this remains the case. with creditors exceeding the Company’s cash balances. The Board has undertaken steps to substantially reduce the Company’s overheads and is in discussions with a number of shareholders and creditors. The Company has secured support from one of the Company’s major shareholders should there be a requirement for short term working capital to implement the investing strategy.”
The common factor between TXO and CTFA = Timothy Edward Baldwin CEO and Chairman of TXO and Chairman of CTFA before being booted out and replaced by a chairman who was so disgusted by what he found he wants the money paid back to the company, even though he is an old buddy of TEB’s.
britta
Worthington would be an obvious choice, except for the fact (let’s all sing the song), “….it’s not on AIM!!!”
It does have its “Sterling Listed Main Market” paper as an asset. LOL
Affles
Well – if you want a total POS run by a CEO who actually controls a major stake in the company via another company that he has also run into the ground – then look no further than Red Rock resources. Thing of beauty really – split a POS into 2 POS and have them controlling shares in each other while you take 2 salaries instead of 1 – BINGO!
Wish i’d thought of it :-(
J P Spaghetti
It’s a bit too late to ‘do the math’ but Draganfly (DRG) now seems to be more of a dying fly (note to younger readers – search on Tiswas)!
David Russell
I have not got a clue but I guarantee that I own a shit load in it Lol.:)
Gateway
Can we have a ‘which is the most worthwhile company on AIM?’ competition instead. Surely more useful for investors!
Bint Laden
Doesn’t Naibu count? Still on AiM even if the shares are suspended and not so much burning through cash (which would suggest investment, even if misguided) as directors have taken all the cash and disappeared with it.
wildrides
There are two ……….. clear as day :-
1) Sefton
2)Spurt Rati or Teathers what ever you want to call em
oh and anything touched by Jim “water” Mellon
The_Donn
Im pretty sure Tower Resources (the drillers of dust) have to be up there, as all their assets have been proven to be completely worthless – with a +99% shareprice destruction thrown in for good measure.
VINES
global brands is dog of aim
net liabilty, intangibles dont count as some methane thing that isnt going ahead, run by a fat welshman and another director also a fatty was at portsmouth when it stopped paying its players, i dont think you’ll find a bigger pup
Oh FFS
PAA
woof
lostindenmark
New World Oil (NEW)
No revenue, no news of farm out partners, cash runs out in October.
Pain au Chocolat
I would agree with Red Rock and Regency Mines. Surely you must be wanting to investigate how a holding in Alba (Horse Hill) was sold the day before the big announcement at a loss to a friend?
wolfcastle_22
RRR and RGM…..I’ve mentioned them a few times to you Tom for investigation…..the biggest, and slowest, rip off ever….Bell should hang his head in shame….he’s not a crook, just pure useless……or maybe he is a crook disguised as useless so not to attract attention of his “Lenigas on Valium” approach to running down and diluting an AIM POS….that’s my opinion…….said it 3 year ago on LSE……..got banned back then for upsetting the mogo’s and briarbanks etc.of the BB……….funny now they seem to be saying the same thing
THE_DONN
So who won Tom!?