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.

Daniel Stewart – suspension calamity on failure to release accounts as it needs to raise yet MORE cash

By Nigel Somerville, the Deputy Sheriff of AIM

1 October 2015 02:24

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You can’t say were not warned! Shares in AIM-cesspit poster-boy Daniel Stewart (DAN) have been suspended yet again as the company has failed to release accounts for the year to March 2015 by yesterday’s deadline. But having just raised £1.2 million of cash just at the end of June at the ludicrous price of 3.35p, it looks as though the reason for the lack of accounts is because the company needs to raise even more money. It sounds horribly as though there is a little bit of an issue over getting an audit sign-off. Is this because of a lack of regulatory capital, a reluctance of the auditors (PWC) to pass the company as a going concern, or PWC foreseeing a shortfall?

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Comments

wildrides

1 October 2015, 04:11

Ah ……………….the delights of Karma . The universe has acted and the wrongdoings have been smited verily . Let that be a warning to all who cheat and lie their way to untold riches . You will lose it all to the greater cause …….in time ……all in good time . Karma wont be rushed you see . It takes its time so as to get it right and protect the meek . Sleep well all ye bad ones . For karma is coming for you and your associates ………. slowly and inexorably .