IGas – now about that margin call on piggy wiggy Andrew Austin’s EFH dodgy share deal, clarification needed (again)
By Nigel Somerville, The Deputy Sheriff of AIM | Wednesday 3 December 2014
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.
Things are hotting up for AIM Cesspit-listed IGas (IGAS) and its beleaguered CEO Andrew Austin in relation to his ‘loan’ deal with Equities First Holdings LLC. I remind you that this is a one-product finance company, and we have read one of its loan-deal contracts held on the SEC website in the US very carefully. Thus far we have not yet seen a British one, but we think it will be largely the same. Some of the AIM companies caught up in the EFH scandal have been rather more open than others when it has come to clarifying details of the deal. And that brings us back to the issue of margin calls.