516 days ago
On 1 August 2022, having failed to raise $30 million in an equity markets fundraise – as I warred here to hoots of derision from BBMs sitting in their underpants in their parent’s basement – , Shield Therapeutics (STX) took out a $10 million loan from 13% shareholder AOP Orphan International AG. Now the clock is ticking on that loan.
960 days ago
Shares in Salt lake Potash (SO4) have been suspended on the ASX since 27 July although on AIM they have traded since 29 July allowing anyone with half a brain cell to get out. The cause of that suspension was an admission of technical issues which meant a delay in production which, in turn, meant that without new funding Salt Lake would crash land in tits up alley by Christmas. As the meeting with the Fat Lady draws ever closer we have news today. Or rather lack of news on that financing.
1100 days ago
For Ms Lingerie on Expenses MBE things go from bad to worse. As the FCA Criminal Investigation into her alleged misuse of client funds cranks up, as demonstrated HERE, at Drive Software, the company she owns and claimed was Tesla meets Fitbit, it looks ever bleaker with a crash landing in tits up alley now only a matter of time.
1395 days ago
My guess is that the long awaited meeting of FastJet (FJET) PLC with a crash landing at Tits Up Airport cannot be postponed for that much longer. It is not as if this company could ever make any money pre Covid. But while I await that moment as one that I celebrate with champagne and noxious phone calls to its journalist smearing motherfucker PRs at Citigate Dewe Rogerson, I remind the company that it had promised us a trading update by Monday at the latest. Specifically, on 8 June it stated:
1431 days ago
AIM listed POS Bidstack (BIDS) ended 2019 with £3.1 million cash but burning it at a rate of almost £750,000 a month. It has already admitted that its revenues in H1 2010 will be as they were in GH2 2019 minimal. Even its lame paid for researcher admits that it will be out of cash by the end of May. Well chaps, it is now May 26. You have 4 days…
1489 days ago
The only metric you need to know about Bidstack (BIDS) is how much cash it has left. Based on the likely run rate at the year end, on the fact that it has not laid off staff but has hired it is almost certain that by the end of April the number will be nothing at all and that, barring a bailout placing, it will be crash landing in Tits Up Alley. A trading statement today more or less confirmed that in what it did NOT say. Naturally CEO Lyin’ James Draper tries to spoof gullible investors.
1727 days ago
In 2017 the owner of Spud U Like lost £1 million. One senses that 2018 will have been worse. Now the firm has gone tits up with 300 staff now on the dole as a result. There are 4 factors at play:
1912 days ago
When the boss’s younger brother threatens to “beat up Tom Winnifrith because of the articles he wrote,” when you get into bed with disgraced king fraudster Rob Terry and then send Tom Winnifrith fascist lawyers letters you know that Mr Karma is going to get you sooner or later. You are either on the side of the fraudsters or you support the fraudbusters and that brings us to Daniel Stewart (DAN).
1920 days ago
Quadrise Fuels (QFI) announced a £2.16 million open offer at 2.4p on 7 December warning that unless it was supported the company would be crash landing in tits up alley in January. It extended the closing date by a week until last Friday and today revealed that “it was delighted” that it had raised gross proceeds of £1.51 million. Death has been postponed. But not for long.
1988 days ago
In today's podcast I look at Johnston Press (JPR), RIP, Flybe (FLYB), TrakM8 (TRAK) - which could well go the way of Johnston Press if its banks pull the plug, and UK Oil & Gas (UKOG),. down 25% on the week but set to lose at least a third of its remaining market cap by Christmas.
2005 days ago
FastJet (FJET) the airline set up by tobacco smugglers which, having gone legit, has a perennially failing business model and ability to burn vast amounts of cash had said that it needed more cash by the end of October to keep going. Aha, its October 31, I wish all ,my readers on the Isle of Man happy Hop-tu-naa, and so what’s the story back at FastJet? It is not good news I fear…
2020 days ago
On 27th September the joke company Fishing Republic (FISH) announced that it was “pleased to announce the appointment of Daniel Quinn to the Board as its new Chief Executive Officer, with effect from 17 October 2018.” Today, 16th October the company fessed up that it was bust. No need to clear your desk Danny Boy, in fact no need to buy cakes for the staff on your first day at work tomorrow. At least your CV won't need much touching up. Is this a record: Minus 1 days from appointment to an AIM tits up? Darren - make my ouzo a double!
2040 days ago
The journalist smearing PR bastards at Citigate Dewe Rogerson snuck out results from FastJet (FJET) just after noon hoping that the whole world would be on a lunchbreak. Not only are the numbers utterly shite but having raised $10 million in July the company now ‘fesses that it needs more cash by the end of October or it will be once again at the cul de sac at the end of tits up alley. Disgraceful.
2294 days ago
So Carillion (CLLN) has gone tits up. You do rather feel for its 19,500 employees but as folks work out what happens next there is an orgy of recriminations. What lessons do you learn?
2362 days ago
Waseem has a few wise things to say and I note why I always listen to him even if he is being beastly about a stock I own. Do you really benefit from closing your ears to a contrary viewpoint from a guy who is more often right than wrong? No. Elsewhere I look at how gravity cannot be defied forever and Inspirit (INSP), Avanti Comms (AVN), I3 Energy (I3E). Then I answer a question on Falanx (FLX) where I am long and very happy as results loom, about Snoozebox (ZZZ) which has gone tits up (Sheriff 1, Cynical Bear 0) and finally what to make of the Persimmon (PSN) statement.
2381 days ago
So Jersey Oil & Gas got its placing away at a 21% discount and it is a company serving up good news. UK Oil & Gas (UKOG) has been serving up cold sick to its shareholders and is out of cash so needs a placing ASAP to avoid going tits up. UK Oil & Gas shares are now just 4.5p to sell so at what price do our readers expect the placing? Look away now if you are long, strong, wrong and clearly smoking a bong.
2444 days ago
The failure of the LSE to insist that hapless Nomad FinnCap forces Telit (TCM) to bring in a firm like KPMG to conduct a full forensic review will hurt it even more when this company goes tits up as I noted in a letter to Stock Exchange boss Donald Brydon earlier today HERE. Two sources tell me that the FBI may have bad news for the Boston fraudster Oozi Cats and his Mrs as I explain in this podcast. But the meat of the podcast is explaining why Telit will go tits up and why that could be within six weeks. Enjoy
2483 days ago
Our recent coverage of AIM Bulletin Board Moron darling MySQUAR (MYSQ) HERE and HERE should leave you in no doubt that this is a piece of crap heading for 0p. At the heart of the issues are the related party deals conducted with other Schaer companies which explain most of the "sales" MySQUAR reports. Earlier toady we ran a piece which exposed the dirty business practices of Schaer when he used to operate in the USA, as you can see HERE. Now for part two which shows what an A grade shyster the man is, another reason to exit this stock ASAP before it goes tits up.
2483 days ago
Any company employing disgraced Nilesh Jagathia of Teathers infamy is a good bet either to go tits up or to get into a spot of bother for not filing documents properly at Companies House. And that brings us to Octagonal (OCT) PLC where clueless Nilesh does the books.
2494 days ago
In a sense this is not that relevant as Advanced Oncotherapy (AVO) is within a couple of months of running out of cash and going tits up but on a point of principle I have written to the my very good friends at the Financial Reporting Council as there are aspects of Advanced's 2016 annual report and accounts which stink more than a pile of rotting kippers left out at a sewage farm in the scorching midday heat. The letter follows:
2497 days ago
I see shares in Blur (BLUR) are tanking again. Quelle suprise - given that it could be tits up time in three weeks. Anyhow for Phil Letts and his fellow grossly overpaid director his Mrs a song to brighten up the day. Natch as I think happily to a concert way back then in a summer's evening in Mile End Park, it's by Blur... To The End!
2589 days ago
The demise of Gametech PLC the next venture of Jason Drummond after the Teather's (TEA) debacle looks clear - so much for a stockmarket float care of London's worst Nomad Roland "Fatty" Cornish. We revealed the Gametech was heading for tits up town HERE last week. Now Mr Drummond's apparent arch enemy Richard Skelhorn has bitten back with an official statement relating to that article:
2681 days ago
We picked up some of these shares at the Dragon's Den pitch at the UK Investor Show. We sold this morning at a loss and in disgust at 91p. The order was just to sell after United Cacao (CHOC) served up the most god-awful trading statement on a day when most folks are just not around but are off doing Christmas shite. Sadly for Cacao Scrooge's biggest fan is at his desk and my comments on this horror are in bold.
2747 days ago
Oh dear. More on the woes of the fraud Worthington (WERN) later as it heads for a winding up order. But it seems that one of the shysters behind this scam, Allan Biggar (see HERE) is also in the merde.
2748 days ago
You know that I always like to keep close tabs on how my good pal Jim Mellon is doing with those businesses he asset stripped from Rivington Street, the firm I set up. History might have been different had RSH accepted large cash offers for them but Jim wanted them for himself. So lets go to what was t1ps.com the owner of a range of websites and the increasingly badly attended and irrelevant Master Investor Show. Its accounts for calendar 2014 were approved on April 24 2015. Its calendar 2015 accounts were due by September 30th but....
2931 days ago
"Nomad Strand Hanson, Broker Mirabaud, mug punter Evil Knievil, aka Simon Cawkwell, dodgy Russians Mediotor, IR ramper John Heilshorn, we have beaten them all, we have beaten them all!. Phorm PLC, can you hear me? Phorm PLC ... your boys took a hell of a beating! Your boys took a hell of a beating!"
2962 days ago
Yesterday as LGO Energy (LGO) raised £1.36 million gross, I published the emails showing how David Lenigas stated that the company needed £5-6 million to turn around. Even that was a lie predicated on silly output projections, but on the sums raised LGO is just fucked, it has merely postponed crunch time from April ( 2-3 weeks) to May, lets call it 7 weeks.
2964 days ago
It does not seem as if Wandisco's (WAND) attempts to find someone to buy it have come to much. Certainly it does not mention this in today's calendar 2015 results which are truly abject and suggest the company is hurtling at a rate of knots to the very edge of tits up canyon.
2999 days ago
AIM Death list member Wandisco (WAND) has released, what can only be described as, an utterly disastrous trading statement at every level. All the money's nearly gone and there must be a very real danger that it is tits up time soon.
3006 days ago
I start with today's placing news from Deltex Medical (DEMG). I do not reckon that this will be its last placing and its language stinks at every level. The money will be used for "working capital". Bollocks. It means to "fund our ongoing fucking losses". And there is more. Yes this is a bad language special. And if you are a Guardian reading loser who thinks the NHS is cash starved you will also be offended. I also look at Petro Matad (MATD), Petroceltic (PCI), Rose Petroleum (ROSE) and once again push Wandisco (WAND) for a statement. Is there a "strategic review" yet? How close are you to tits up time?
3014 days ago
Yesterday I demonstrated that AIM casino posterboy Servision (SEV) was both almost insolvent and in need of a placing ASAP HERE and b) was happy to mislead investors to ramp its worthless shares ahead of a placing HERE. Right now it is ramping as it needs a placing pronto to avoid going tits up. Now I take you back to 2015 to show how it misled the market in a shocking manner to get a bailout placing away.
3093 days ago
One good turn deserves another and following Big Dave’s black tie event on Friday (see here) we hear that down at the scrubs they are planning a charity event on B Wing for David “I drown my enemies in confetti” Lenigas. Noting that Lenigas Cuba might soon have to return most of its cash to mug punters and that LGO looks set to go tits up, a committee has been established to bail out Big Dave. Details are sketchy but inmates are awaiting the imminent arrival of Mr Rob Terry of the notorious Fareham Five gang”
3303 days ago
Shares in AIM casino dog Mopowered (MPOW) now trade at just 2.5p having already slumped by 50% since the bailout placing at 5p last September. You may remember that just ten weeks later the company issued a grisly profits waning (November 24) but since then there has been radio silence. That is ominous.
3467 days ago
All frauds eventually run out of other people's money and so it will be with Quenron (QPP). For it is a fraud as I explained in full detail in this video. So when will Quindell go tits up?
3467 days ago
As you know I regard Paul Scott as the UK’s top share blogger. Not only is his analysis top notch but his turn of phrase is excellent. And he’s a nice guy as a bonus. As such I bring you a short post he made earlier on Quenron (QPP) and its joke interview with Shares Magazine. Top stuff Paul!
3560 days ago
Over the weekend I revealed HERE the string of business trainwecks that are the real career of Dragons Den new boy Piers Linney. I also flagged that his AIM listed Outsourcery (OUT) was in dire straits and its shares have slumped from 34p on Friday to 25.5p ( and falling) today as the possibility that it could go tits up looms ever larger – as I flag HERE.
Outsourcery is burning cash, has missed all its sales targets and cash and trade receivables minus debt and trade payables is already almost certainly negative. Piers promises us a statement by the end of the month. Tick Tock. You can read full details HERE but I’d rather drink a pint of Ebola virus than buy the shares. They are a sell – target price 1p.
But a City contact has now pointed me towards another venture of Piers which ended in the usual Linney outcome.
3561 days ago
As I have noted before Phorm is now weeks (3 weeks I make it) from going tits up having sent $340 million of OTHER PEOPLE’s MONEY to money heaven and blown £10 million since March alone. As it tries to raise fresh equity it is still lying to investors about what went wrong in Brazil and Romania and City firms Mirabaud and Strand Hanson are complicit in this. Yes I used the word lying. Will Phorm please sue me I want to see you in court? You are liars. Liars. Pants on fire. Geddit? And Mirabaud, long term broker to Phorm you appear not to give a flying fuck about integrity as long as you get your commission. How do you sleep at night you greedy and unpleasant dirtbags? Any PLC retaining Mirabaud as its broker or Nomad should be aware that it is in bed with a disease ridden hooker.
I have pointed out numerous times how Phorm has misled investors
3583 days ago
Poor Phorm (PHRM). It has woes aplenty. First up it runs out of cash and unless some sucker gives it more it will go tits up in six weeks’ time. Secondly it appears unable to tell investors the complete truth about certain of its problems, like being shut down by the regulator in Brazil as I revealed HERE a few days ago. And thirdly it sees that it is not just Brazil where it has problems with regulators.
I noted in my prior piece that whenever Phorm seems to be getting any traction at all in a territory those darned regulators just shut it down. The UK, the US, the EU, etc, etc, etc. But there is always the same pattern of hype (pre fund-raise) and then disappointment.
Right now Turkey and China are in the hype phase. But what are the odds that the regulators will act there at some stage. Maybe the US, the UK, the whole of the EU and Brazil was just a fluke? So let’s look at last year’s hype story …Romanian, birthplace of Mr Nastase, the coolest tennis player in history.
According to Phorm’s latest RNS:
3590 days ago
In the last days of March, AIM Cesspit listed Phorm (PHRM) raised £10 million. Today it has warned that unless it raises more cash urgently it will go tits up. I reckon tits up day is in mid-August.
The numbers defy belief. As ever in March Phorm was blathering on about the good days ahead. It is still blathering on about billions of potential advertising pages blah blah blah as it announced its results for the 2013 calendar year and admits to more delays on the operational side. But it is the cash that should horrify one and all.
Phorm says that cash and cash equivalents as at May 31 were $8.8 million - call that £5.5 million. In other words in just two months £4.5 million has gone to money heaven. Why Phorm cannot give us an up to date figure in this era of electronic banking God only knows.
But at the current run rate this company will be out of cash and tits up by mid-August. That should be the headline. Phorm phrases this dogs dinner in more of a blurred fashion thus:
3809 days ago
AIM listed Green Dragon gas (GDG) has yet to offer any explanation to the bloody dossier containing pictures of Chinese villagers beaten up, apparent environmental vandalism in the US and questions on other matters. But that may be the least of its worries.
