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GOTCHA! Technology Minerals – why interims and year accounts need to be restated to consolidate Recyclus Group, shares must be suspended NOW

By Tom Winnifrith | Wednesday 27 March 2024

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.

Technology Minerals (TM1) published its interim results for the six months ended 31 December 2023 today which showed a loss of £1,476,000 and net assets of £20,639,000. They are erroneous and need to be restated as do last year's finals and that throws its plans to get the FCA to approve an RTO prospectus into disarray. I shall be reporting Technology to the FCA and FRC today. So here is why this company co-founded by disgraced Chris Cleverly has breached the rules and why its shares should be suspended which, given its reliance on death spiral funding, could well trigger bankruptcy...
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