AFR

2133 days ago

Eight is the Magic Number for Purplebricks but it ain’t getting close

Another day and another expose of the failing Australian business of Purplebricks (PURP) appears. Remember that bulls need Purplebricks Oz to switch from heavy losses to profit if forecasts are to be met. It just does not look likely. In the latest expose from the AFR we learn:

2137 days ago

Purplebricks says that it doesn’t bully Aussie staff as agents continue to quit

Amid reports that Purplebricks (PURP) in Australia is suffering large scale staff losses as sales collapse and thus commissions dry up – true commissery – the company now faces allegations of bullying and that that it has created a “toxic” work environment.  The AFR reports today:

2141 days ago

Purplebricks Aussie Business is failing and shrinking

A leading Australian Newspaper has revealed that “broke” estate agents are quitting Purplebricks (PURP) in Oz in droves as the market slows. They claim the business model is flawed. Maybe as the UK residential market slows similar cracks will appear here.  Remember Aussie growth is one way Purplebricks claims it will start to move out of the red in a material fashion. Perhaps not. The AFR reports:

2415 days ago

Tom Winnifrith Bearcast - do not get fooled by Watchstone's cash claims & shoot the scumbag "rebels" at Stratex

Those seeking to oust the board at Stratex (STI) have not been playing with a straight bat as an RNS late yesterday made clear. They are vermin who should be sent packing. Ditto Professor Conroy of Conroy Gold & Natural Resources (CGNR). I have news on his latest courtroom scrape in Dublin and also on the Afren (AFR) whistleblower to whom I make a generous offer. I am warming to Blur (BLUR) after today's placing and am almost tempted to nibble now that ghastly Phil Letts and his even more ghastly Mrs have gone. There is a detailed analysis of interims from Watchstone (WTG) - Quindell as was. Do not get suckered by that headline cash number. It is not real and the shares are a sell. Finally there is an update on the African Potash (AFPO) and Paragon Diamonds (PRG) litigation. 

2421 days ago

BREAKING: Afren Whistleblower promises to tell all in London Tribunal on Monday

Remember the Afren (AFR) disaster 2015. Readers of this website were warned numerous times but still thousands of investors lost a packet. Afren was a story of over-gearing, falling oil prices, incompetence but also of fraud. Elekwachi Ukwu was the Afren plc Company Secretary and claims to have been fired for whistleblowing. Now Ukwu is preparing to spill the beans.

2740 days ago

BREAKING: Afren Shareholders seek crowdfunding to pursue directors in Court

I do not hold out much hope for this bunch and they should have heeded my oft repeated advice to sell their shares instead of insulting me. However it seems as if some Afren (AFR) shareholders want to fight on and nail the directors. In that - since I instinctively have no time for City fat cats I wish the Afren Legal Action Group (ALAG) the best of luck and if they can make the lives of directors who earned a fortune but failed, more miserable this Christmas that has to be a good thing don't you think? ALAG has written to its members thus: 

3110 days ago

Tom Winnifrith Bearcast 27 October: Is InternetQ another Globo? Chemring, Dialight & More

A busy day with my daughter beckons. In the evening it is the new James Bond film. But first a lunchtime bootcamp with Uncle Chris (Booker) to put her straight on the Evil Empire, the EU. In the podcast I ask if InternetQ (INTQ) is the new Globo (GBO)? Then I look at Chemring (CHG), Dialight (DIA) - another win for the bears - Afren (AFR) gets a mention as does LGO Energy (LGO), BP (BP.), Union Jack Oil & Gas (UJO) and - just to niggle Wildes - Premaitha (NIPT) whose shares are moving ahead nicely - more to go there!