The most read ShareProphets stories this week were:
CAB Payments – why quality matters and a shocking NED lying about her CV Yesterday’s shock warning from CAB Payments (CABP) which listed only a few months ago in July leaves its shares, at 54p, languishing as the worst performing IPO of the year. But could the big banks who floated it or the fund managers who lapped up the shares have spotted any red flags? Er…yes
Upland Resources "bid approach": a clear fraud, a spoof or perhaps just real insanity? On Friday afternoon and throughout the weekend folks from the Upland Resources (UPL) ramping community, a group almost as pointless as Queers for Palestine, were tweeting that Upland had received a 14p bid approach but was going to reject it as being too low. This morning Upland said that as a result of speculation it was forced to confirm this was all true. That the shares are just 6.25p tells you Mr. Market smells a rat. The FCA and the Takeover panel should be all over this and shorters should be adding to their short as fast as possible.
SkinBioTherapeutics – updates on acne consumer study and trading, Strong Buy on a winning share tip, target 50p+ SkinBioTherapeutics (SBTX) has announced that it is commencing a consumer study which it considers “is potentially a major step towards the commercialisation of a new probiotic treatment that could address the root causes of conditions like acne”, as well as noting “trading for the full year to June 2023 was in line with market expectations. Cash at year end was £1.3m, ahead of expectations of £1.1m, and the company continues to control its costs”. What of this news from a current 27p share price, £46.7 million market cap?
The most-listened to Bearcasts this week were:
Tom Winnifrith Bearcast: How to lose customers the TW way! I start on the topic in the strapline then discuss: Upland Resources (UPL), Tintra (TNT) and other spoof bids. Then it is onto Caracal (GCA) a clear zero in waiting, ASOS (ASC) and why Gary is wrong, Dev Clever and why the FCA has no balls, CAB Payments (CABP), Regtech Open (RTOP) and the fraud Supply@ME Capital (SYME) .
Tom Winnifrith Bearcast - The stink of bad cheese I start with a note on the Hamas lovers at Lancaster University then spend 97% of the podcast on shares: Argentex (AGFX), Ironveld (IRON), Caracal Gold (GCAT), Upland Resources (UPL), EventBrite (US:EB) and in some detail Roquefort Therapeutics (ROQ) which should be a zero.
Tom Winnifrith Bearcast: Upland admits the 14p, £166m, bid was a complete scam - vindication for the Master of penny share fraud busting I was on a road trip yesterday so only noticed the after hours 'fess up late in the evening. Upland's shares will be destroyed, it is a complete vindication of my coverage and some folks should be going to jail if the FCA, regulator of the Standard List, launches a criminal enquiry as it must do. Upland Resources (UPL) management are - at best - guilty of criminal naivete and negligence, To show that they are not part of a criminal conspiracy, perhaps involving the tweet below, they should be demanding an FCA enquiry - I hope you followed my short advice as these shares will, as I predicted, collapse like a failed souffle on Monday.
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