By Tom Winnifrith | Friday 13 August 2021
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.
Yesterday we suggested that Adam Reynolds was involved in the IPO of dog Abingdon Health (ABDX). This was inaccurate and I take full responsibility and apologise for the error. which was swiftly corrected. Reynolds buddy Lynn Rees was involved in the IPO which I exposed as a shocker HERE but as for Reynolds it seems he agreed with me.
Reynolds had no involvement and in an email sent last night it now appears that Reynolds was “bearish at the outset”. That rather begs questions about the enthusiasm of others does it not? Does Reynolds still think this stock is one to avoid even after the shares have slumped?
Reynolds has been egged on in demanding this apology in addition to the immediate correction which he got by a senior employee of Nomad Strand Hanson of fake sheikh infamy. I can understand that Strand employees might not like this website after we exposed its shameful attempt to IPO Central Copper Resources despite the horrific skeletons on the closet of the senior management team from Cradle Arc, which Strand Hanson also floated on AIM. Its shares were suspended after less than a year and it went bust soon afterwards.
Surely it was aware of skeletons like inaccurate cashflow models at IPO, that its main operating unit was trading whilst insolvent and not paying payroll taxes or workers, while not informing investors about this? Surely Strand knew, if not at the time, then by the time it came to do due diligence on Central Copper? So I asked Mr Simon Wharmby why he thought it was appropriate to list Central Copper Resources in such circumstances? The company had issued an RNS stating that it would list in early August.
However, I understand that the broker and others are now reviewing whether it is fit to list at all and according to one media report any IPO has now been delayed to late September. It seems as if my letter to the FCA and AIM Regulation have forced a “review”. Ouzo for breakfast for the Sheriff methinks.
With this company’s disgraced management team I would have thought that in terms of IPO timings it is “better never than late”. Mr Wharmby, your firm was humiliated by what happened at Cradle Arc, why are you so keen to double down?
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