UK 18:47 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
In the wake of the exit of Rob Terry, the Quenron (QPP) CEO Rob Fielding communicated with CEOs of companies within the Quindell Empire and other senior staff and my whisteblower was in on what happened and the admissions are wholly at variance with market forecasts – this is damning.
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Comments
david
This is the problem Tom, ever since Rob Terry left they stopped “significantly exceeding expectations”.
Diabel
……you’ve called it right from the outset nevertheless your views demand anxious scrutiny. Your whistleblower might be ‘playing’ you and in that context your unwittingly supporting his short position! Does that not make you feel uncomfortable? Perhaps – it’s possible – David Currie is not a ganaf – and Moose remains in post – because things aren’t as dire as your informant suggests. I guess we’ll know soon enough!
TheLaw
Another evidence-free TW post, although I see he now has an ‘imaginary friend’ to give his posts some credibility…pathetic!
Scott Sanderson
All of this from a conversation – no written proof, not backed up by a 2nd verifiable person – you might have been played like a fiddle here Tom.
Journalists shd always use more than 1 source and have proof
Tom Winnifrith
Hmmm played like a fiddle? How about folks who are 90% down and have bought shares of the founder who dumped and told the morons he was buying? Surely no-one could be daft enough to fall for that? SS – how many Quenron shares do you own?
t
Janus stark
Sounds like the same whistleblower Lee Wilde had, are you sure you’re not being played here Tom.
I don’t get paid early for xmas, just leaves longer til the next pay day, with direct debit bills still coming out same time every month. Bit of an own goal here to be honest.
Tom Winnifrith
Janus
Stick your head in the sand pal.
I have not spoken to Mr Wild but it seems obvious his source was from a Claims Management Company.
My source is inside QPP as the articles make clear
I have 25 years experience in journalism you have ….
I suggest you are not really in a position to give me career coaching
T
Merc
You’ve said cash is down to £60m and that net cash is £nil.
Did you actually ask if debt has been reduced too or just assumed not?
Jason
Not invested in QPP nor ever interested in being so but watching with interest to see how high the tide (scum?) mark is left when the whole thing implodes.
Perhaps shareprophets could add an extra service alongside Nifty Fifty & HotStockRockets which would focus on AIM companies which actually have proven potential, performance and BoD. Investing in small caps/first movers can be rewarding if risky but it would be a damn sight more so without the greed, dilution addicted, liars and fraudsters.
Janus stark
Tom, with all due respect, your blogs on here are not in keeping with respectable journalism. Regardless of content, your language indicates the quarter of a century experience was in the gutter press. Using swear words instead of more appropriate adjectives shows you have no respect for the readers or your employers.
Forty Two
If you can read accounts you don’t need a second source – that’s it. Forget hanging garlic from the windows – this is the stake through the heart…
Tom Winnifrith
Janus
The deadwood press is part of the establishment, It kisses PR arse, it does not bust open frauds. But it uses polite language.
I swear , I curse, I use video, I tell jokes & I expose frauds. And I expose corporate piggery,. PR lies etc. I do not kiss arse. Maybe that is why our readership is going through the fucking roof?
Who is my employer ? Me your fucking tool.
If you do not like my style go & read the polite prose of the PR recyclers of Fleet Street. See if I care. In fact why not just fuck off anyway you pompous tosser.
Tom
GA
Hi Tom,
Can I clarify a couple of things:
1. When you say cash is £60m and therefore net cash is zero are you saying this because the source told you that net cash is zero? Otherwise, If you only know the cash position how is it possible to know the net cash position?
2. The market expects £20-40m of adjusted operating cash flow. You assume that this will increase net cash by £20-40m. Is that right? Aren’t there other items that can impact the net cash position?
Kind Regards
Quazie123
Tom
I reckon you are just hours from bringing down the turd company of AIM practically single handed. Only problem, the numpties will all evaporate so I understand why you’re making the most of it now mate, well done.
GA
Tom,
Forgive my confusion, but isn’t accruals and trade receivables of £600m -£800m in line with market expectations (for example, if you look at the Cannacord note of 2 September 2014).
GA
Tom,
Sorry to be a pain. You talk about an admission that revenue recognition is a problem. I presume your source mentioned that. You go on to say that this means there will be massive write downs. Can I check with you that your source also stated this?
Kind Regards
SD
Tom. Cash is that good?? Why not also point out that almost all debtors are subject to invoice discounting (almost certain given note disclosures in 2013 accounts)? Inv discounting more prevelant now but still regarded as the most perilous form of financing.
Mark B
Where’s the FCA during this slow-motion car crash? You know, the regulator chaired by John Griffith-Jones, former boss of KPMG, Quindell’s auditor…
UpandUnder
FilthyLucretin – you have us all in stitches. You say you don’t trust Tom but you’re reading his work within hours of it being published. Why do you waste your valuable time reading and following the writings of a journalist you don’t trust?
Phil
Filthy, I do trust this website and Tom Winnifrith, not least as the lowest gain on 3 share tips I invested in tipped by TW is up 36.7% and the highest 128.9%.
I will continue to trust including any member of a true free press and I am quite happy to watch you continue to trust Quindell et al.
My portfolio is looking pretty good at the moment considering market conditions, this type of skitty market certainly sorts the men from the boys, so how you doing, making money, or making accruals?
Rob
Amusing to read people throwing their hands up in disgust at the writing style that Tom uses. Presumably these people are also Long and Strong and Wrong.
Last time I checked Tom wasn’t writing for Children here, and none of us are compelled to read it (although for this site / Tom’s twitter has become compelling reading).
There is a place for dry writing, why must it be used here? Perhaps you just talking out of your Janus (silent J), Stark?
Quazie123
GA
Can I ask you a question yourself mate, where the hell were you with all your forensic line of questioning when Quindell’s leaders were making disclosure errors regarding the share purchases 3 weeks ago, or was that all strictly above board on your planet ?
Best regards
Q123
Scott Sanderson
This was apparently going bust months ago, then it was “very soon” then suspension was around the corner, then suspension was “possibly on Monday morning” lol comical really.
alcira16247
Filthy/Scott
I believed in the Quindell story until 8th July 14 when I sold at £1.97 with a loss of £5k. I sold because of Tom’s research, followed by my own which verified Tom’s analysis.
However, the Long and Strong brigade, want to cut it, Tom has called this right from day one. I am afraid, it seem’s Mr Terry and his associates aren’t good people. They have profited massively, millions of pounds wealthier, whilst ordinary shareholders lost or loose hand over fist.
For those folk who still believe in the Quindell story, just do your own research, again. Open the can once more, if you still find nice rich strawberry jam, then great, your going to make a killing. Regrettably, when I opened the can all I found were maggots!
By the way, following Tom’s tips, I have almost made up my loss on Quindell!
GA
Quazie123,
My planet? Not sure what you’re getting at. I’m trying to understand the truth on my planet. My questions aren’t aimed at undermining Tom’s efforts, just around getting clarification. I’m not saying that what Tom says is incorrect, but it’s quite apparent that there is a bias to his reports and the line between fact and opinion is not always abundantly clear.
Now, on your point of where my forensic line of questioning was around the disclosure errors. Not sure why you suggest that I should have questioned these on this forum? Isn’t this a question to direct at the company, although I know I wouldn’t have got an answer.
I’m also not sure what is wrong with getting clarification over Tom’s comments? I would be interested in your views – perhaps I should take everything that Tom (and everyone else for that matter) says as fact, or perhaps as I do it’s better to challenge everyone’s opinion, bear and bull.
Sweet Karolina
GA
You will know on Mon morning. Either there will be an RNS explaining the full cash position or there won’t be. If there is not you can be 99% certain Tom is 99% right in what he is saying. If anyone wants to hold or invest on 1% chance of 1% wrong then they are lunatics.
Quazie123
GA
What I am getting at is the well known investor syndrome where someone identifies a serious problem/fraud/coverup (let’s call them a whistleblower) and makes it public, then all of a sudden disgruntled investors start a line of questioning of the whistleblower that takes on incredible proportions to a degree where honestly, if they had exercised just 1% of that diligence prior to investing, then they wouldn’t have found themselves holders of total shite in the first place. Me, my view is that Quindell is a toxic investment to be avoided at all costs. I have followed Tom on this POS from about £2.50 down. I finally decided to short only when I saw the RNS regarding the share purchases (ROFL) and subsequent correction. If you want another example of this syndrome look at Scott Sanderson’s posts here. His latest is a classic, criticising Tom for not actually nailing the day of suspension, as if that discredits all his investigative work to date. Primary 3 stuff. Coming back to your line of questioning, I think the main point is that Tom says he believes they are bust, end of. If you want proof of that to the degree you aspire to, I don’t think you will get that from playing around with a few numbers on here, I have a feeing you will get that from a share suspension, or perhaps another massive fall tomorrow. That would be from those in the know selling. I’m not able to name names on that assertion but does it matter ? To give you an analogy, you don’t need the dripping willie shot to prove adultery, that’s something maybe you and Scotty boy might wish to ponder going forward.
Q123
Scott Sanderson
Quozzie I don’t mind Tom hasn’t correctly predicted the day of supposed doom. He’ll keep on saying it’s coming any day.
You’ll also notice that from toms ‘investigative’ work NONE of it has resulted in Quindell issuing a RNS or in FCA/Aim Regs officially investigating Quindell. Basically everyones ignored his investigations. Only plus thing he achieved was opening up the EFH scandal – full marks for that.
Scott Sanderson
.
alcira16247
Scott
I can personally assure you that AIM Regulation are conducting investigations into Quindell.
I received an email from them confirming this on 25 November 2014.