Tuesday September 23, 2014


My First Hangover at the Greek Hovel – getting to know the locals in Kambos
Video Postcard #81 – Reflections on the summer at the Greek Hovel
The skies darken over the Greek Hovel as lovely Eleni and the rest of Kambos prepares for winter

PERSONAL, UNDILUTED VIEWS FROM TOM WINNIFRITH

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My First Hangover at the Greek Hovel – getting to know the locals in Kambos

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I had planned to stay sober until my return but I fear that I have been led astray. I blame OTE Telecom. I still cannot get on the interwebby at The Greek Hovel so spent all Sunday working from the Kouronis taverna in Kambos, run by lovely Eleni. At about 10 O’clock Greek Time I was done writing and asked for my bill. But instead I was summoned to the bar and asked to sit with four men.

Either side of me were two Gentlemen who spoke English. The younger (George) was a relative newcomer to the area, the elder (Nikos) is a greying stocky man with a walrus moustache. It was he who had cross words with me on my second day here when I supported the Krauts rather than the Argies in the football. Since then we have exchanged nothing but pleasantries. Behind Nikos was the man in the pink polo shirt (Vangelis) and behind George was another George, a Greek only speaking builder.

I was told “it is not will you have a drink but what are you drinking”. They were on the hard stuff and so I opted for ouzo. Nikos told me that they had decided they needed to know me better as I was now their neighbour.

They refused to let me pay and four hours later I was rather the worse for wear. Nikos was concerned about me biking home. He offered to drive me several times but since he was also a tad unsteady on his feet I declined

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Mopowered – absolute shocker of a wipeout placing & more Insider Dealing in the City club

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This has it all. I told you the shocking tale of the Mopowered (MPOW) AIM casino disaster story HERE yesterday. Today came news of a placing at 5p to raise £3.5 million (Gross). This just adds insult to the injury.

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CEO ego of the week: Dominic Keen CEO of Mopowered

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AIM casino posterboy Mopowered (MPOW) has today announced a rescue placing at 5p. It was listed at 100p on December 18 last year. It was trading whilst insolvent until today and has been for weeks. The shares are now 8.125p so investors have lost 92% of their cash in just over nine months. But it is not all bad news: the lawyers, brokers, nomad, accountants and PRs assisting this POS will – after commission today – have now made more than £1 million from the firm.  It is coke and hookers all round for the Crony Capitalists of the AIM Casino, and hard cheese for the shareholders.

I am sure investors will be lining up to thank CEO Dominic Keen for his sterling efforts on their behalf. Mr Keen

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The Industrial Scale China stock Fraud in Fujian home to Naibu, China Chaintek and Camkids revealed

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This article appeared in the Chinese publication  Caixin Online at Christmas 2012. Staff reporter Qu Yunyu has done a superb job. It should be required reading for the crony capitalists round at Daniel Stewart, Allenby Capital and Abchurch Communications as well as AIM Regulation and for anyone mad enough to hold shares in Naibu (NBU), Camkids (CAMK) or China Chaintek (CTEK). It is explicit about what has gone on. If you own shares in any of the Fujian companies on the AIM Casino you should sell them all at once. The article – with a few choice sections in bold from me -  reads: 

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Daniel Stewart talks TOTAL COCK re China Chaintek

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I am sorry to say this but the research note published this morning by my friend (well he used to be) Simon “Wincey Willis of Daniel Stewart on China Chaintek (CTEK) is a total disgrace. I assume Wincey has been leaned on to justify what is obviously a fraud because Daniel Stewart is earning such vast fees as Nomad and broker to Chaintek. Wincey is a good and honest man and hence he drops covert hints that he thinks Chaintek is junk but  I urge him to stand up to the reality that Chaintek and Naibu are engaged in fraud. He should explicitly tell clients to sell, even if that means that Daniel Stewart fires him. Simon do not sell your soul in this way.

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The London Stock Exchange fiddles while AIM Burns, top broker Andrew Monk weighs in

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There is so much wrong with AIM. China frauds seem to list at will. Companies can lie without censure. Folks like Sean Nutley at Silverdell and Rob Terry at The Innovation Group (where is he now BTW?) just “get away with it. Investors have completely lost trust in the Casino. It is a joke. The LSE could change it simply by getting the hapless bunch of complete cretins at the AIM Regulation Team to enforce rules, to kick off piss poor Nomads who float crap (Daniel Stewart) and to publicly name and shame. But instead it tinkers with the rule book. Top broker Andrew Monk of VSA weighed in this morning with this comment: 

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The Man in the Pink Polo Shirt – A ten week question from the Greek Hovel answered

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Every evening and most days a rather large man sits at the bar of the Kourounis taverna in Kambos run by lovely Eleni. He always wears a pink polo shirt. I am not sure if he has a large collection of such shirts or if he has been wearing the same one all summer. He laughs, he smiles, he drinks and smokes and taps away at his laptop. What on earth is he doing? 

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Now RSA shouts about fraudulent industrial deafness claims – ref Quindell

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The Bulletin Board Morons do not seem to understand that if an Industrial Deafness case is lost Quindell (QPP) earns nothing it just incurs cost. So the mushrooming of bogus claims will not generate any cash for Quenron although it is happily accruing income on the basis that it takes on and wins 6,000 cases a month. Given that the number of claims settles has not risen above 20,000 across the while UK for many years, it is inevitable that at some stage it will have to write back all or nearly all of its accrued income from ID, prompting a profits warning. It will also mean that Quindell runs out of cash. The only question is when?

As such as a reminder of what is going on I bring you an article from The Times out today flagging up statements made by Insurance giant RSA. It reads:

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China Chaintek interims – this stinks of Norfolk too

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From the team that brought you Naibu (NBU) we also have China Chaintek (CTEK) which released its interims today and it goes without saying that they do not stack up either. My target price for the shares is 1p (the value of the cash dividend on offer) but since it will probably be the last when the stock goes ex my target price will be slashed to 0p.

As a reminder, team Naibu/China Chaintek is dodgy serial floater of China frauds Zedex Capital, the Nomad which floats utter shite from China and the UK and which brought Quenron to the AIM Casino (Daniel Stewart) and PR spinners for most of the China Norfolks, the upper class twits at Abchurch.

Chaintek, is like Naibu and the two German China frauds to have emerged in the past three months, from Fujian province China. They all make shoes. Chaintek is in logistics and its main customers are claimed to be shoe producers.

I do not need to go into much detail

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