69 days ago
It is not quite all over but it is near as damn it. The financial masochists at Craven House Capital and associated punters, who were considering an RTO of failed loan shark Amigo (AMGO) appear to have realized that their plans were insane and would be just to much of a self-inflicted punishment beating and have withdrawn. Oh dear.
206 days ago
I have already clearly demonstrated that the proposed £135 million RTO of technically insolvent Cell Therapy (aka Celixir) by Ashington Innovations (ASHI) is a complete rum and coke HERE. I have been discussing that with the FCA today. If it approves the prospectus it will be one of its biggest blunders in years. But now it gets worse.
226 days ago
I start with a travel tale that has my good pal the Euroloon Jonathan Price at last seeing a benefit of Brexit. Then a schoolboy error from me today. How many folks put 2+2 together to make 25 re trades in Skinbiotherapeutics (SBTX) today. I chat with Steve O’Hara of Optibiotix ( OPTI). I have some light reading for the FCA, SI Capital and Ashington Innovations (ASHI) HERE which should sink its planned RTO. Finally, there are now just 9 tickets left for ShareStock on 23 September and you can book them HERE.
226 days ago
Yesterday I revealed that the proposed RTO of Cell Therapy into Ashington Innovations (ASHI) with a £135 million valuation was a total joke. Cell will be insolvent even if it raises £3 million in the RTO, its sole director is a struck off dentist and it is mired in scandal. I have written to broker SI Capital urging it to walk away but clearly its desire for coke and hookers money counts more than its reputation. So now to the FCA which can and should stop this bezzle.
312 days ago
Last week Standard Listed More Acquisitions (TMOR) made the most shocking announcement about the termination of its proposed RTO of Megasteel, news which will see its own shareholders utterly screwed. There are wild rumours about which shareholders ensured the deal failed and I have today spoken to sources close to the company.
368 days ago
I flagged up the complete and utter joke that was Pineapple Power (PNPL) when it listed as a (sub) Standard List cash shell back in December 2020 and the sordid pond life penny share grifters involved. Its first proposed RTO went tits up. Now it is back with another – Element 2 – which it claims is worth £120 million. This deal drips with more red flags than on a May Day Parade in Moscow. It stinks.
523 days ago
Fungai Ndoro who runs Aquis listed Oscillate (MUSH) is not a bad girl but any company that invests its shareholders cash in Dev Clever (DEV) warrants must – for reasons explained HERE – be run by someone who is smoking something. Today Oscillate has announced an RTO which makes no sense at all.
524 days ago
Shares in Dev Clever (DEV) remain suspended as, after 11 months, the FCA is still refusing to sign off on a RTO prospectus. But that is the least of Dev’s worries, it must surely be bankrupt by now, how about its advisers, those fine fellows at Novum, cobble together an October 31 year end trading statement. Here is the maths:
560 days ago
On February 3 2021 failed oil explorer Curzon Energy (CZN) announce a short term loan the start of RTO discussions with Poseidon Enhanced Technologies Limited (PET). The period of exclusivity and repayment of that loan has now been extended 16 times but still the pretence goes on.
612 days ago
Dev Clever (DEV) has some very belated results out today. Its failure to update on current cash tells you it is almost bust. So too, I suggest, is its proposed RTO target Veative. And also Asimilar (ASLR) the listed company most of whose NAV is Dev related. I analyse the results and explain, not that Nigel Wray will want to hear this, why the Dev valuation is a joke. This whole mess is a £180 million nest of snakes.
900 days ago
This is the company that lied in its very first RNS on December 30 2020, claiming to have raised £600,000 for its IPO when, in fact the money did not arrive until January when “investors” had been able to flip their shares to raise the cash for the placement. Between then and now it had boasted of utterly spurious crypto and NFT deals then, one suspects under FCA pressure, reverted to its prospectus gameplan of trying to do an RTO in oil. But now another lie.
937 days ago
Very wisely, big Dave Lenigas stepped down as chairman of the company he founded on 30 July leaving his buddy Andrew Monk in charge. That the company’s adviser and broker on London’s standard list is VSA Resources run by er…. Andrew Monk is obviously not a conflict of interest at all. Anyhow, it is all ending in tears as an RTO underway for two years has hit the buffers and the company appears to be insolvent, What’s not to like?
1105 days ago
Shares in long term dog IMC Exploration (IMC) have soared on news that it is to do an RTO of the company owning the Karaberd gold mine in Armenia. But is what it says in the RNS the whole truth or has it engaged in a deal on an asset originally awarded on a questionable basis and with a company that has screwed local people and welshed on a string of financial commitments?
1124 days ago
I end with a few notes on Woodlarks. There are now 7 walkers confirmed – please do make a donation HERE. Then I discuss 2 acid tests today for the FCA: Supply@ME Capital (SYME) and Lyin’ Chris Cleverly’s planned RTO into Stranger Holdings (STHP). Then I look at St James House (SJH) and wonder if the taxman needs to have a butcher’s at 4 of its disposals involving John Botros. Then it is onto IQE (IQE) and why Malcolm Stacey and thirsty Paul Scott are wrong. Finally a look at Jubilee Metals (JLP). I look at the fundamentals after today’s interims and conclude that the shares should be well North of 20p. Then I discuss the matter with the world’s leading analyst of PGM stocks beginning with J for his input.
1135 days ago
Mr Lenigas is at it again as I show below. I discuss whether I should capitulate, call this bullcast and move on. And what that says about the state of the market. I feel like Tony Dye in 2001. Then I try to explain the maths behind RTOs and acquisitions by shells as folks just don’t seem to get it. I reference the fraud Supply@ME Capital (SYME) and Wildcat (WCAT) in this section.
1159 days ago
I start with the Poulden/Lenigas/Peterhouse/Mir ramp Upper Thames (UPPT). Then it is onto Ridgecrest (RDGC) where I go through the exact timeline of events and all the issues which the FCA should examine in a formal enquiry. Then I have new questions for Zoetic (ZOE) and its loathsome PR Mr Henry Halfwitted-TopHat, formerly the PR of choice to Chinese fraudsters on AIM, about District 8, the RTO and what actually happened and finally comment on the weekend analysis of Versarien (VRS). Both it and Zoetic are shares where my target remains 0p.
1188 days ago
I warned you on Friday that with the scoundrel penny share spivs at LSE Sharetalk, the house of Zak Mir, ramping away, the 3p share price of AIM shell Ridgecrest (RDGC) was insane and that even broker Peterhouse which has only last Wednesday raised £2 million (gross) at 0.6p would be vaguely embarrassed. Indeed, that seems to be the case as now the company has been forced to issue a statement.
1310 days ago
As you will be aware I have today written to the FCA about the lying and suspicious share trades of Supply@ME Capital (SYME) chairman Dominic White. An eagle-eyed co-conspirator draws my attention to page 101 of the (balance sheet fraudulent) RTO prospectus from March 23 2020. I do not wish to be a pedant but….
1319 days ago
On September 3, Papillion Holdings (PPHP), one of the (sub) Standard List dogs run by colourful value destroyers Charles Tatnall and James Longley, announced yet another RTO deal. Shares in the company, which is clearly insolvent, have been suspended for an eternity pending one RTO or another but will this move into gold mining go through? The whole thing is bonkers.
1500 days ago
This was a dog of an RTO which Steve and I have regularly, and correctly, called out as such on this website. Sure no-one could have predicted Coronavirus but this is a disease that, largely, kills the sick and ailing and so Escape Hunt (ESC) is an obvious potential victim.
1900 days ago
Over the weekend I flagged up all the red flags surrounding the curious RTO of Adam Wilson's Atlantic Carbon by Peter Shea's worthless Daniel Stewart Securities and the enlarged group's planned Standard Listing. Notably I explained the horror's in Atlantic Coal's accounts and the daft $86.8 million valuation put on Atlantic by See Through Equity in the note below which is on Atlantic's website. Uh Oh...
2174 days ago
I cannot hide my pleasure at today's catastrophic news from Audioboom (BOOM). Media companies should believe in free speech - Rob Proctor's outfit buckled at once forcing me to move bearcast elsewhere. And now Proctor's company faces possible bankruptcy in four weeks time. Ha fucking ha. This is a shambles.
2365 days ago
It seems that Thursday's RTO of Sosandar (SOS) at 15.1p went well enough. The shares closed Friday at 20p-21p and I am very confident indeed that we loyal shareholders would have a chance to sell at well over 30p before too long. This retailer will not be disappointing with its next trading statement which, I'm sure, will force brokers to increase forecasts. But some of my fellow shareholders don't seem to be the brightest sparks or my greatest fans. From the ADVFN asylum:
2368 days ago
Just a short bearcast today as I had to rush off for my regular Thursday morning date with the Fit Young Mums. In today's podcast I talk about the IPO/RTO today of Sosandar (SOS) which we own shares in and I reveal the first of the celeb investors. Then it is onto Playtech (PTEC) and some wider thoughts on gambling regulation in the UK. Finally there is a look at Rosslyn Data (RDT) where - hat tip Roger Lawson - it is surely profits warning ahoy. I look back at the numerous Rosslyn red flags.
2460 days ago
Oh dear. Oh dear. Another AIM debacle involving Chinese funny money. This time it is Stratmin (STGR). Its cunning plan was to do an RTO of Signature Gold and to fund that deal with a £5 million investment from Axel Management Group Pty Ltd. What could possibly go wrong?
2484 days ago
Booted off the AIM Casino in March for failing to do an RTO on time, Amanda Van Dyke's Glenwick (GWIK) is nothing if consistent: it keeps missing deadlines. Cash is almost certainly zero, or near as damn it, by now but how about an update? So far no news is bad news for this related party infested failed ramp.
2589 days ago
I comment on the hopeless response of smug MPs and the established media to yesterday's terror attack on my own website in a podcast HERE. On the markets I look at expectations management at Next (NXT), at how we know or knew about the balance sheet at Toople (TOOP) covered HERE by Cynical Bear or Advanced Oncotherapy (AVO) heading for 0p and covered in detail by me earlier HERE. I look at Public Services Properties (PSPI ) and what its AIM casino departure says about RTOs and contingent liabilities - which reminds me again of New World Oil & Gas (NEW). Finally I have a detailed look at the strange world of Paternoster Resources (PRS), not a stock you have to own in any way. PS Cynical Bear is not me. Can you see any typos in his articles?
2612 days ago
Oooops I did it again, said the boy scout mugger Stuart Bromley. Anmther day and another fuck up at Standard List posterboy CIC Gold (CICG), shares in which have been suspended since Novemver 3 2015 as it pursued an all paper RTO of a worthless brown field gold explorer Gobi.
2721 days ago
New World Oil & Gas (NEW) has today been booted off AIM for failing to fulfill its investment policy following the collapse of the Big Sofa RTO but all is not lost...far from it.
2748 days ago
This needs to be the day when London's worst Nomad Roland "Fatty" Cornish is drummed out of the City of London for good. This will shock you. New World Oil & Gas (NEW) has abandoned the RTO with Big Sofa but has not said specifically why. So let me assist.
2770 days ago
Suspended for failing to do an RTO, the AIM listed piece of crap that is Glenwick (GWIK) announced late last week, how it is to spunk all its cash. Need,less to say the company told a grotesque lie in its RNS and it and its advisers seem rather unwilling to return calls and defend or justify that lie. Peterhouse, Allenby, Glenwick you are cowardly bastards as well; as liars.
2818 days ago
I am afraid that this involves Amanda Van Dyke, formerly of this parish, but the news from piece of Turkish Glenwick (GWIK) stinks of AIM cronyism and it is bad news all round for shareholders as suspension looms.
First up we have the news that Cameron Pearce, the driving force, the man who managed the RTO - which fell apart in June - the man who fed titbits to the Bulletin Board Morons to ramp the shares to get away a line of placings, has walked.
Farewell Cameron,
I wanna tell you a shtoory
2832 days ago
Now that NunaMinerals is in administration no-one other than the poltroons at the UKLA believes it will do a RTO of worthless fraud Worthington. So what next? Roll up Flagship Global Corporation which is listed on US OTC markets and is essentially bust. Perfect!.
2840 days ago
The farce that is the fraud Worthington (WRN) continues apace. The chocolate teapots at the UKLA are still publishing twice daily updates claiming that Worthington is considering an RTO with NunaMinerals, a company that is not only in administration but is also to be delisted in Denmark. its aceeeeeeeeeeeeeeeeeeeeeeed! all round at UKLA where the chocolate teapots still reckon that the deal is viable.
2845 days ago
I discuss this in Bearcast today but Frontier Resources (FRI) has today announced the latest RTO by the shellmeister Adam Reynolds. We are shareholders and are taking up the open offer in full. Why?
2856 days ago
The former CEO of Danish listed NunaMinerals was owed cash by the company and yesterday managed to get the company formally declarred bankrupt in a court in Greeland - see HERE. That means that Main market listed fraud Worthington (WRN) can no longer procrastinate and claim to be in talks about an RTO. So it must be game over for Aiden Earley, Craig Whyte and Doug Ware.
2865 days ago
Oh dear, Oh dear, Oh Dear, over-ramped POS Glenwick (GWIK) is deep in the merde. Its shares were unsuspended at 3 PM today following the collapse of talks about an RTO. They had been suspended on 23 May.It gets worse.
2904 days ago
Cathal Friel did the right thing in turning Fastnet (an oil company) into Amryt (AMYT) a pharmaceuticals play. We bought into the RTO placing. Here is Cathal explaining the story at UK Investor Show. Enjoy
2917 days ago
David Lenigas on Friday made the following exciting announcement regarding the disastrous ISDX IPO that is Lenigas Cuba (CUBA). He boasts of an RTO but it is all utter bollocks. Jabba announced:
2921 days ago
Tom Note: This article appeared under the HotStockRockets name but I wrote it and would not want anyone thinking this was not my view. Off we go...Shares in Teathers Financial (TEA) remain suspended and will be booted off AIM on 4 June if no RTO takes place or if it cannot convince AIM that it has implemented its investing policy ( which it won't). It looks grim. The latest update states:
2976 days ago
This is quite simple. Either IOx - the company reversing into 3Legs (3LEG) has filed monstrous lies at Companies House or Jim Mellon's 3 Legs has told monstrous lies to AIM. It is one or the other there is no third way and as such 3Legs needs to re-issue its RTO document to explain who was lying and why? In part 1 of this series I demonstrated unacceptable greed and Companies House filings that DO NOT ADD UP. Now here is the killer.
2977 days ago
3 Legs Resources (3LEG) would have gone bust without my good pal Jim Mellon going in last June, investing £500,000 for a 29.9% stake and organising a Reverse takeover announced today. So he is a hero. The only problem is that this whole RTO stinks, companies house filings are all over the shop, nothing adds up and the stench of greed is palpable.
3106 days ago
Shares in CEB Resources (CEB) will now be suspended for weeks if not a couple of months because – as I pointed out here on Friday – it is about to undertake transactions that amount to a reverse takeover (RTO). But the big question is why has CEO Dave Whitby not been fired for wholesale rule breaches?
3109 days ago
Shares in CEB Resources (CEB) are suspended on AIM ahead of an announcement on Monday. That is because its CEO Dave Whitby revealed a stack of price sensitive data including news that an RTO was planned in a podcast on ADVFN with Justin the Clown Yesterday. Flip Flop Ben Turney is so busy blowing smoke up the arse of Whitby that he may wish to ignore this. Whitby has broken insider dealing laws and a stack of AIM Rules. He should be sacked at once, barred from AIM and prosecuted. If you want to clean up AIM you deal with those who break the laws. Whitby has broken the laws. The Sheriff of AIM is getting a noose ready...
3153 days ago
Emmit PLC (EMT) was booted off the AIM casino in May of this year but said that – notwithstanding a parlous financial position – it hopes to make a comeback once it has completed an RTO. I suggest that it has zero chance of this given the revelations below, revelations which show that its former Nomad Daniel Stewart (DAN) was not fit for purpose. Daniel Stewart deserves a massive censure and fine for the scam it allowed to take place. A scam that has cost investors millions.
The FCA flagged up a pension scam involving shares in Emmit last year stating:
3177 days ago
Yesterday I raised the issue of the Bahamas based market manipulators LOM Capital which had a 2.15% stake in Quindell after its RTO onto AIM on May 17 2011. Hat tip to a reader from the grim post-industrial Northern welfare safaris for taking this matter further but we are now left with new questions for the fraudster Rob Terry.
3306 days ago
Shares in AIM Casino listed Management Resource Solutions (MRS) were suspended yesterday as it admitted that monies it needed to complete an RTO had not arrived, a statement which begs the question as to who is its supposed lender Halcyon Capital Management Pty Ltd. Oooooo Errrr Missus.
I have picked Management up on its corporate governance failings before (HERE) but this episode may well prove the ultimate humiliation for what has been a dog of an IPO. Management announced on 5th March that it was to but an Aussie Company (D&M) for cA$7 million.
That looked a bit toppy in itself given that D&M recorded a post-tax profit of just A$145,000 ( down from A$587,000) in its last financial year. An historic PE of 47, yum yum
3548 days ago
If you are a bull of Quindell (QPP) then that must largely be because you trust its founder, Mr 2+2 can = 5 Rob Terry. After all almost 40% of the revenue Quindell books this year will be accrued (i.e. not even invoiced but just based on what Rob Terry thinks will come in). He has bought businesses for massive prices from old friends based on what they might do (Himex and of course Brand Extension as exposed HERE yesterday). So you trust Rob Terry.
Ok, The Innovation Group crashed as did his prior venture but you reckon he has learned his lessons and THIS time he is playing it differently. I happen to disagree. Right from the launch of Quindell onto AIM in 2011 via an RTO the then Country Club business engaged in business practices which were simply not sustainable and which – to any impartial observer – scream out Red Flag ahoy!
3571 days ago
This is not a share tip as we would like to be free to buy and sell this stock as and when we want but I can disclose that RMPC has pumped a five figure sum into Ducat Ventures (DUC) shares in which resumed trading today as it announced what looks an interesting RTO.
This is the latest play by company rescuer Adam Reynolds. The name will change to Optibiotix Health and there will be a 200 for 1 share consolidation. At the placing price of 0.04p the market cap is £5.7 million and net cash is £3 million with the free float (former shareholders of Ceres Media) – I guess c £200,000 at the placing price.
The shares are now 0.04-0.05p
Full details of the deal are HERE
In summary the company says:
4097 days ago
AIM listed GMA Resources (GMA) has just returned from an eight month suspension. A cash shell (with not a lot of cash) following the failure of its last hydrocarbon business venture it has now announced a RTO which will see it owning 90% of two mining assets in Kazakhstan. The shares returned from suspension on February 5th and promptly soared to 0.9p which in effect valued the business at £700 million. That forced the company to issue a statement re-explaining its share structure – in effect saying its stock was overvalued. The shares still trade at 0.24p but are still at least 60% overvalued.
The company plans a 500 for 1 share consolidation. Thus existing shareholders will post consolidation own 1.236 million shares. The vendors of the Kazakh assets will be issued with 148 million shares which on the basis of the agreed RTO values the transaction at £40 million. But on the basis of the current share price the market capitalisation post issue is actually £184 million.
