Poor Phorm Tick Tock Tick Tock – 4 weeks to insolvency – now what about your shit in Brazil

I noted in a previous article HERE that Phorm (PHRM) was only a few weeks away from running out of cash and going tits up. Notwithstanding its $10 million fund raise in March it will be on its way to PLC heaven in mid-August unless some more mug punters like Evil Knievil are found to keep this fare going. I know that the company is telling a jam tomorrow story to investors right now. But before they fall for that ask Phorm about Brazil.

Now groupies of this stock state that Brazil is old hat. Phorm says it is winding down there to focus on higher growth opportunities, like Turkey and China. But as I revealed HERE that is a lie. Phorm had to shut up shop in Brazil, as its operations were banned under law. The same happened in Rumania. And before that in the US, UK and the rest of the EU.

Now what I alert you to today is how Phorm misled investors over Brazil for almost three years.

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