52 days ago
138 days ago
Microsalt (SALT) tried to raise £10-15 million ahead of an IPO last October but for some unexplained reason, Nomad Zeus postponed the IPO. On 1 February it joined the AIM sewer after raising £3.15 million gross (£2.5 million net) at 43p giving an £18.5 million valuation. Today, after announcing what it termed a “vital” deal earlier this week, the shares are 112.5p so valuing it at just over £48 million. Really?
147 days ago
I start with news of a cruel and unusual punishment I suffered in Wrexham today and then it is onto reports that Evri is considering a £2 billion IPO. If it does its a day one stock to short.
152 days ago
I flagged up in a recent bearcast some of the numerous red flags in which Standard Listed World Chess (CHSS), a shocking IPO organized by the scallywags at Novum, is drowning. Today comes a real stinker. At the time of my warning the shares were 5p. They are now 2p-4p.
249 days ago
I warned about this crock at the time of its 145p per share November 2021 IPO but naturally fat cat fund managers knew far better and piled in. Today the shares are 26.85p after truly piss poor results. Is it any surprise that folks are reluctant to buy its range of highly expensive kitchenware items in the current climate? There is no real USP of this business and the numbers make that clear.
305 days ago
Yesterday’s shock warning from CAB Payments (CABP) which listed only a few months ago in July leaves its shares, at 54p, languishing as the worst performing IPO of the year. But could the big banks who floated it or the fund managers who lapped up the shares have spotted any red flags? Er…yes
305 days ago
I explain that I was up late struggling to put together a business plan. It’s been a long time since I did that. Then I look at Nightcap (NGHT), a barrels of ouzo moment for me and more shame for the serial PR bullies at FTI Consulting as FD Technologies (FDP) warns yet again and finally at CAB Payments (CABP), the worst IPO of 2023.
318 days ago
Still the FCA refuses to intervene in the scandalous fraud that is Regtech Open (RTOP). The FCA approved a prospectus and the shares listed at 100p on August 25. Within a couple of weeks they were 304p. Now they are 12.5p, a loss of 87.5% in less than two months from the IPO and 97% off the peak of a couple of weeks later.
318 days ago
I warned about this company before its 2021 IPO and I warned just a couple of days ago that it was due yet another profits warning. Call me fecking Mystic Meg because this morning Procook (PROC) has coughed up the warning.
329 days ago
I am crowing here. I know a bit about how restaurants work and have long warned that this September 2021 181p a share IPO is a car crash waiting to happen. After today’s warning the shares are 66p but I take a deep dive into its accounts and what the company is ignoring but you should not. I also reference Nightcap (NGHT) in this podcast.
361 days ago
The FCA approved the prospectus for Regtech Oen Project (RTOP) to list on the Standard segment of the Main Market on 25 August. Today, just a month later there is a disaster. I have warned the FCA abut this, surely it must consider an enquiry into how it has fecked it up yet again.
363 days ago
Now I really am ashamed to be the unwitting owner of £120 worth of shares in VSA Capital (Very Sexy Andrew), the broker and financial adviser run by egomaniac Andrew Monk, a man – as he mentions daily – educated at Oriel College Oxford. In November of last year VSA racked up a big corporate fee getting an Aquis dual listing for New Zealand listed coffee chain Cooks Coffee (COOK). Cook’s was – as I showed here – insolvent at the time and VSA’s forecasts to get the IPO away were a disgrace.
387 days ago
I have always thought that Oxford Nanopore (ONT) was massively overhyped and that its CEO Gordon Sanghera was a bit of a bullshitter, fawned upon on by the deadwood press. The company IPO’d just under two years ago at 425p – its shares now languish at 231p. Today we have half calendar year numbers from a company still capitalised at almost £2 billion and the smell of Sanghera bullshit is strong.
418 days ago
If my voice holds out I shall do another bearcast later. Meanwhile I discussed the scandal of Alison Rose’s payoff. at NatWest Group (NWG) . It is symptomatic of how the 1% in the media, business & political elites live by wholly different rules and values to the 99% and why we oiks have every right to be ever more angry. Then it is onto the “dirty dozen” and the scandal of the FCA approving the £60m IPO of Regtech Open where fair value is patently zero.
419 days ago
Yesterday the FCA approved the Prospectus for RegTech Open Project Plc (RTOP) so that it can list on the Standard List with a £60 million valuation, enriching Alessandro Zamboni of the Supply@ME Capital (SYME) fraud to the tune of £21 million. This detailed dossier explains why the FCA should hang its head in shame. This is a disgrace and shows that the Standard List regulator is just not fit for purpose.
489 days ago
I flagged up earlier how these numbers from musicMagpie (MMAG) breach IFRS rules but that is really the least of the company’s problems. When the company floated in April 2021 it was profitable and had net cash. Now it is drowning in debt and loss making. Thank heavens that founder shareholders including the CEO’s wife were able to dump £95 million of their shares at the 193p IPO onto dumb fund managers. The shares are today 15.5p.
489 days ago
IPO’d by Sam Smith, the woman celebrated by the sisterhood and woke media as the postergirl for feminists in the City, at 27p per share, shares in FinnCap (FCAP) are just 7.75p today after the publication of shockingly bad results for the year to March 31. Smith stepped down in September and within weeks there was an awful profits warning and the new CEO had to start slashing costs to survive. Then came a merger with also suffering Cenkos (CNKS), two drunks propping each other up. This is the legacy of Sam Smith, who told the Daily Mail she only stepped down to start getting some “how’s your father.” The reality is Smith fecked it up.
500 days ago
The AIM Market statistics for June 2023 have arrived. And the self described “world’s most successful growth market” has had another shocker.
2023 continues to be a poor for the AIM market and within that June was a particularly bad month with a net 8 leavers with Fox Marble appearing as both a joiner and a leaver due to a reverse takeover. For the first half of 2023 the AIM market has lot a net 24 companies dropping down to 792 companies – a 20 year low.
505 days ago
I explicitly told you to duck this IPO in November 2021 when founder shareholders dumped 27.4 million shares at 145p and Procook (PROC) raised nothing for itself. Time and time again I have been vindicated and though CEO Daniel O’Neill periodically spoofs the mugs with token share purchases, a fraction of his IPO “winnings”, the shares have continued to slide. Today after piss poor finals and a profits warning they are just 25p. And that is generous.
505 days ago
Publishing its prelims on May 30, the RNS was abridged, the numbers unaudited and I speculated – correctly – HERE as to what disgraced Andrew Monk’s most shameful IPO of 2022 was hiding. The Annual Report is now out and guess what?
524 days ago
On 17 March 2023 Essentially Group (ESSN) listed on the Aquis Lobster pot having raised £600,000 at 50p. Amazingly the shares are now 54.5p thanks to a series of fairly trivial buy orders since the IPO. But today, just two months after the IPO there is bad news.
528 days ago
I start with more on the disaster at More Aquisitions (TMOR) and the roast rat now being served at Doc Holliday towers. Then it is onto a recap of lunch today with colourful entrepreneur Ray Ingelby, discussing Chill Brands (CHLL), his own planned IPO and much more.
581 days ago
Where there is a bandwagon to jump on, Big Dave Lenigas will jump on it. The stench is everywhere at the Aquis lobster pot as Lenigas has made a, very unwelcome, return to the UK IPO scene. As ever the stench is of greed. Vinanz (BTC) is ostensibly a sub scale bitcoin miner.
583 days ago
I explicitly warned folks about Procook (PROC) ahead of its 145p per share IPO in November 2021. I have warned again repeatedly. CEO Daniel O’Neill and other directors have spoofed folks with share purchases all the way down. And here we are, after another piss poor update, and the shares are just 27p. Well done to those fund managers who gobbled up almost £40 million of shares dumped by the founders at IPO.
618 days ago
In today’s podcast I look at Credit Suisse and the banking crisis, bitcoin, gold, Argo Blockchain (ARB), Online Blockchain (OBC), Mode Global (MODE), Okyo Pharma (OKYO), Virgin Wines (WINO) and Versarien (VRS) in light of the bombshell here earlier today.
654 days ago
In today’s long Bearcast I discuss Kefi Gold & Copper (KEFI), Sosandar (SOS), Argo Blockchain (ARB), Ben’s Creek (BEN), Cellular Goods (CBX) and an IPO from Primary Bid and the spivs at Novum to avoid like the plague: World Chess
670 days ago
I today asked the advisers to Tap Global (TAP) which joined the Aquis lobster pot today via a reversal into Quetzal Capital to justify why Tap was worth £20.5 million and 4.5p and the enlarged group worth £32.2 million. There has been no answer. Why? Because even by the standards of shitcoin and crypto-shite this valuation is bonkers. It’s a car crash in the making and shames all involved.
670 days ago
At the time of the IPO of David Beckham promoted CBD play Cellular Goods (CBX) in late 2021, the chancers Mike Edwards and Jonathan Bixby held 31% of the equity. Today they are at sub 7.7% and are still dumping. Soon they will be out. But with the IPO at 5p why are they selling at 0.7p and lower? Some, it appears, are more equal than others.
738 days ago
Ithaca Energy (ITH) has IPO’d today at 250p giving it a market cap of £2.5 billion making it the biggest London IPO of the year to date. Well done Goldman Sachs. There is a big push to get Joe Retail buying in the after market. But is that a smart move? Top analyst Ashley Kelty of Panmure Gordon thinks not and in an email, below, sent today has savaged the issue.
738 days ago
Young Steve Moore and I have repeatedly warned you about Seraphine (BUMP) another disastrous 2021 IPO. Today came another warning but before we deal with the abject numbers I suggest you all have a butcher’s at its website HERE. And as a reminder…
758 days ago
With normal companies and normal investors, one assumes that if a big stockholder has been selling you will see a TR1. But in some cases you would be wrong for making such assumptions. You will remember that Genflow Bioscences (GENF) was created for the Standard list by convicted penny share pump and dump fraudster Ron Bauer and his “known associate” Adrian Beeston. After the IPO at 8p in January of this year family Beeston and Bauer held c20% of the equity. Today the shares slumped to just 1.9p
758 days ago
The fight to be the worst IPO of 2021 is a bitter one but along with Made.com (MADE) which pre-published its own obituary this afternoon, Parsley Box (MEAL) has to be a contender and again I warned folks numerous times that this was a dog with fleas. Today it served up news which went down like a wet dream involving Liz Truss.
764 days ago
I explicitly warned you to dodge thie Procook (PROC) IPO at 145p less than a year ago. Today after a second quarter trading statement which saw frantic turd polishing the shares are just 35p. And, whatever the company says about Q2 trading, things are just not going to get better.
786 days ago
musicMagpie (MMAG), the company floated by COO and proven fraud enabler Ian Storey has – as predicted – served up a (lack of) profits warning which is bullshit heavy.
786 days ago
I start with the industrial scale economic illiteracy of today’s budget. It is non sensical and inequitable. Then onto one Tory, Andrew Bell, and Red Rock Resources (RRR). Enough is enough. Then onto Deepverge (DVRG), nanosynth (NNN) and the soon to IPO Streak Gaming, the latest bastard offspring of Bixby and Edwards and one to avoid like the plague.
791 days ago
Put it in your diary now. That is ShareStock 2023. Come on Jimbo you have more than a year to persuade your Mrs to allow you out for the weekend. Courage mon brave! In the podcast I look at Audioboom (BOOM), Parsley Box (MEAL), Fevertree (FEVR) and the greed of Novum, king of the spivs Jon Bellis and Strand Hanson with 2 Standard List IPOs today. No way on earth with that structure will anyone bar the crony capitalists make money from those deals. Coke & hookers all round.
800 days ago
I end with some logistics on Sharestock, booking for supper, tickets etc – we are now looking at almost 80 seats on the lawn. If you want to book yours please do so this weekend so I can sort out catering etc HERE. I start with economics lessons for the NHS and greedy and lazy Shipmans, then onto Cineworld (CINE), then thanks to Evil Banksta, what is an RCF and musicMagpie (MMAG). Finally today’s new issue Zamaz (ZAMZ) a £77 million IPO worth, £350,000. This is a true shocker. What is the FCA thinking about in permitting this to list on the Standard List?
829 days ago
The IPO of Procook (PROC) last November was one that I explicitly warned you about. That offer was at 145p. The shares are now 40p but CEO Daniel O Neill really is the most almighty spoofer, his share buying of late is a red flag in itself, an invitation to go short.
833 days ago
I start with AMTD Digital, run by a man banned from operating in Hong Kong, whose US listed shares have zoomed ahead by 14,000% since its IPO a few weeks ago. It is now valued at more than Goldman Sachs. This is insanity writ large but it is risky betting against insanity. Then it is onto the stench of the Betahny Garner affair, Cellular Goods (CBX), Kanabo (KNB) and Oxford Cannabinoid (OCTP) where i discuss other clear signs that a bailout placing is being lined up. Then it is onto Online Blockchain (OBC) and the threat ADVFN (AFN) should be making against it. Finally I discuss La Willingham’s Nightcap (NGHT), its trading statement and the cash crisis looming this Autumn.
833 days ago
On 19 July last year Revolution Beauty (REVB) joined the AIM Sewer raising £110.7 million by issuing new shares and with founders dumping £189.3 million of shares at 160p. After a warning today about dismal trading which is so bad that it begs the question of whether Revolution will go bust, the shares are 26p. This is a new posterboy for the AIM 2021 IPO class of shame and advisers Zeus Capital should be asked some real questions.
841 days ago
I am today alone at the Greek Hovel, for reasons I explain. Walking up and down snake hill, I must have sweated off 15 lbs! In the podcast, I start with a look at Boohoo (BOO), ASOS (ASC) and the issue of earnings visibility, as business models are forced to change. On my return, I spoke to a whistleblower from a 2021 IPO roll-call-of-shame company; I relay some of the specific accusations made. I’m not sure when to name the company, and how I should play it. But I will do so when back in the UK. The said accusations compound a dire financial position, about which I have warned you numerous times.
850 days ago
Before I turn to one of the most disastrous of the IPO’s of the class of 2021, which has more catastrophic news today, I bring you a snippet from a US survey of consumer behaviour. If you do not think the same trends are happening in the UK you are naïve.
851 days ago
An upbeat trading statement from Tortilla Mexican Grill (MEX) tries to paint a bright picture for this member of the shamed IPOs class of 2021 – listing at 180p on October 8 with founders dumping £23 million of stock, share price today 125p. But buried deep in the release is a clear warning of troubles ahead.
874 days ago
Finally, a year after its shares were suspended for the second and final time just a few months after its IPO, South African fraud Umuthi (UHS) has been booted off the Standard List by the wretched and useless poltroons at the FCA. The regulator is rather coy as to what is going on, perhaps because of its own incompetence in admitting this POS to the market in the first place.
875 days ago
I apologise for ShareProphets’s lack of Pride celebrations, unlike the big corporates. Next year. Or maybe not. Then, it is on to my argument with Steve O’Hara at Optibiotix (OPTI). I do not regret buying more shares, but I am, nevertheless, cross. I explain this, before looking at Dev Clever (DEV) and something very fishy indeed. After that, I discuss Ben’s Creek (BEN), the Adam Wilson CV and why this will all end in tears. Finally, an IPO: Alteration Earth (ALTE), and why you should avoid it like the plague.
881 days ago
Tortilla Mexican Grill (MEX), the mid-market restaurant chain, has announced that just nine months after its IPO, it has dumped existing auditors, Blick Rothenburg. And after a competitive tender, it has appointed Haysmacintyre LLP as its new statutory auditor. Odd timing: is this a red flag?
881 days ago
He might come home with a raft of certificates for “Welsh speaker of the week”, or other such academic achievements, but Joshua is no great sportsman. Yet this afternoon, it is the school sports day, and the whole family is off to watch him. Discussing what lies ahead with him as we walked to school this morning, filled me with pride. In the main podcast, I look at Forward Partners (FWD) – another disastrous 2021 IPO; Petropavlovsk (POG), as it races to zero; Genflow Biosciences (GENF); MGC Pharmaceuticals (MXC) – placing ahoy; and Verditek (VDTK), where things could get very messy within days. Ref MXC, I discuss two historic examples of biotech’s presenting data – on AIDS “cures”, and its spoof ramp last week.
889 days ago
The big institutions all barreled in to ProCook (PROC), since they knew better than Old Tom Winnifrith, despite his explicit warnings why this would end in tears. So, too, did Primary Bid, which was a keen supporter – as was our own Malcolm Stacey. What was he thinking? But, just seven months after the IPO comes a disastrous profits warning, and the shares have collapsed. While Malcolm drowns his sorrows with an extra pint of Old Mother’ Green’s organic ale, it is ouzo time at the Welsh Hovel. But do the founding O’Neill family, who flogged tens of millions worth of shares to dumb IIs, really care?
915 days ago
I start with the usual. 94.5% of you have yet to donate despite the cows, nettles and thorn bush of the weekend. Go on, just a tenner for Rogue Bloggers for Woodlarks, you know it makes sense. Please donate HERE. In today’s podcast I discuss Vin Murria and M&C Saatchi (SAA), the scoundrels at Ince (INCE) and Deepverge (DVRG), Vast Resources (VAST), Audioboom (BOOM) and then I take a very detailed look at Tortilla Mexican Grill (MEX) as it buys Chilango. This looks all wrong and another membr of the 2021 IPO hall of shame.
919 days ago
It is only ten and a half months since online furniture seller Made.com (MADE) listed on the Main Market, raising £100million by issuing new shares at 200p while existing shareholders lobbed out a cheeky £90 million of stock onto gullible institutions. Today, after a dismal profits warning, the shares are just 56p to sell. Meanwhile another rat has left the sinking ship as it burns through its ill gotten IPO gains ever more rapidly.
921 days ago
His point is about the structure of one of a raft of uber-dog IPOs of 2021, Seraphime (BUMP). But that structure is common to a number of other dogs and willl be their downfall. I am in agony as I prepare for bed for reasons explained HERE. But tomorrow I shall do a 20 mile Woodlarks training walk none the less. Please think of my extreme pain as I walk towards Chester and if you are among the 96% of listeners yet to donate to this great cause please do so HERE
931 days ago
I start with a warning of a three day possible bearcast break in the summer and explain why. And of how the cat has stolen all the e’s. Then it is onto the local elections and a warning for complacent Tories about the thief in the night. Then Cathie Wood and ARK which really is going down the plughole. I look at new Sub Standard List IPO Kendrick Resources and give it the Bird. I cover bitcoin, Argo Blockchain (ARB), McColls (MCLS), Kinovo (KINO) – where somebody should be sacked – Wildcat Petroleum (WCAT) and Powerhouse Energy (PHE) . I explain what Steve Moore should do on his weekend “lads break“in Skegness. Oh to be young again. Irony. I forgot to say thanks to all those who have now donated to Rogue Bloggers for Woodlarks. I shall be training hardagain this weekend with a day of gardening and an 18-20 mile walk. Think of my suffering and if you have donated, I thank you, If you are among the 97%of listeners who have not PLEASE DO SO HERE
933 days ago
No doubt the ESG loon fund manager mates of Chris Bailey will be gagging to invest in Quob Park,the new venture of Quindell fraudster Rob Terry, becuaseshowing his commitment to diversity, Rob now confirms his correct pronouns to folks who follow him on Linkedin. Rob is “he, him” for the avoidance of doubt, as you can see below. And showing that crime does pay, Knob Park is booming and hiring. I can’t wait for the AIM IPO.
956 days ago
Over the weekend I flagged up the regulatory crisis affecting the UK CBD industry. Notably Cellular Goods (CBX) ,the CBD company in which Mr Posh Spice was allowed to buy cheap pre IPO shares which, fourteen months after IPO has already lost its CEO and is now rapidly running out of cash. Today, Corporal Jones went into bat for Cellular. As ever it is unconvincing.
958 days ago
Sleazy Labour peer Lord Drayson pocketed an £850,000 bonus for floating Sensyne (SENS) at 175p despite promising the Nomad he would not beso greedy and do so. Now, three and a half years later it has all gone horribly Pete Tong so will he hand the cash back as those who backed the IPO prepare to lose more or less everything? Today Drayson has got the order of the boot and to survive shareholders face being diluted to high heaven with the shares also to be slung off AIM.
963 days ago
I start with a few thoughts on changes in the divorce laws then discuss Canadian Overseas Petroleum(COPL), Sosandar (SOS), Avacta (AVCT) and finally, in detail, Victorian Plumbing (VIC).
965 days ago
It is three weeks until the one-year anniversary of musicMagpie’s (MMAG) IPO at 193p – c/o Peel Hunt – when founder shareholders trousered £93 million dumping stock on institutions. Today, the shares are crashing again, off 15% at just 40p to sell. The spread (10p) tells you something is very wrong. So, what is afoot?
970 days ago
Okay this is not on a par with musicMagpie (MMAG) or Parsley Box (MEAL) which are both heading for an encounter with the Fat Lady already but, still, Nomad Singer should be holding its head in shame, as reader A flags up Artisanal Spirits (ART).., Hat tip to him. Here’s why.
970 days ago
Yesterday I suggested a possible reason for Stifel pulling the second attempted IPO of Recycling Technologies and for the shock resignation of CEO Adrian Griffiths just days before the IPO D day. An expert investor has written to me with his analysis. He thinks I was on the right lines with regard to the bankruptcy of Pure Global Limited where Griffiths was on the board. Our expert adds far more detail suggesting the predicament Stifel as the Nomad may have faced, hence its resignation.
970 days ago
With the shares at 20p to sell (90% down on the IPO of less than a year ago) it is no shock that long suffering shareholders in Parsley Box (MEAL) were not gagging to take up an open offer at 20p. Having hoped to raise £1.1 million it managed just £140,000. Oops. So when will Parsley Box go bust?
970 days ago
Yesterday I revealed that the proposed AIM IPO and £30 million plus a Primary Bid fund raise of Recycling Technologies had been pulled – today we learn that just days before D day the CEO, Adrian Griffiths is to walk. Curiouser and curiouser.
970 days ago
So, David: do you want the audience to learn anything, or are you a mere PR man for low-grade corporates? Tonight, musicMagpie (MMAG) is presenting at Mello Events, and you can bet that it will not discuss how, shockingly, it deceived investors about real competition in its IPO prospectus; or how its CFO-turned-COO was a serious fraudster.
970 days ago
Oh dear, oh, dear. To have your IPO pulled once is understandable, but twice seems like carelessness. Perhaps Nomad Stifel might care to scotch certain rumours doing the rounds.
Recycling Technologies first tried to raise £40 million of new monies, plus, if demand existed, some selling by existing investors, before Christmas. A schedule one notice went in on December 1; a Primary Bid offered us stock a few days later, and Stifel Europe anticipated a mid-December IPO on the AIM Sewer.
975 days ago
Yesterday all of you said i should sack him. But the sad old geezer has texted me today.I relay what he wrote and ask, in today’s edition of the Moral Maze, if I should still sack him? The answer I think you will give, bears direct relation to both musicMagpie (MMAG) and Advanced Oncotherapy (AVO) which I discuss. I also cover Petropavlovsk (POG), Amala Foods (DISH), Zak Mir, Richard “Nobody Likes me and I do not care” Jennings and Lift Ventures whose IPO seems not to be quite as “imminent” as Zak told us it was two months ago.
976 days ago
Amazingly Music Magpie (MMAG) is one of the three most recognised names in e-tail but that is all in the past. Since its IPO at 193p in April of last year it has all been downhill and at 62.5p the shares now have just another 62.5p to lose. This is a zero in waiting and in a multi-part series starting today I shall explain why…
989 days ago
Nomad and broker Finncap (FCAP) led by smug Sam Smith the City’s fave female entrepreneur, so we cannot say anything bad about her company, floated on the AIM Sewer on December 5 2018 at 28p per share. Today, after a ramptastic, but odd, trading statement, the shares are …. 28p to sell, 29p to buy if you are nutso.
995 days ago
Last April 15 musicMagpie (MMAG) joined the AIM sewer at 193p. Today, after publishing its first annual results, a tale of disguised cashburn and a deteriorating outlook the shares trade at just 112p.This is another example of the greed and stupidity of the 2021 IPO bull market. This time it is Peel Hunt which should hang its head in shame.
1008 days ago
I am asked this question by a long suffering reader in relation to Skinbiotherapeutics (SBTX) and do my best to answer. I look at IQE (IQE),the curious share dealing of Mr Drew Nelson and whether I’d be tempted. I still see no sign of the IPO of Zak Mir’s crazy media investment company which he said was imminent two weeks ago. Is it Lift off? I comment on Bluebird Merchant Ventures (BMV) and then have a detailed look at Sarah Willingham’s Nightcap (NGHT) in light of today’s expose. It really is a one way bet.Down.
1022 days ago
In today’s Bearcast I start with a rant about Prince Harry. I suppose that, as a Republican, I should view him as a good thing. Then I move onto Omega Diagnostics (ODX) whose shareholder list seems stuffed with retards – Global Petroleum(GBP) and a placing rumour, Angus Energy (ANGS) and its shareholders being beaten like an innocent nanny, exporting two more British criminals to the US public markets and finally Made Tech (MTEC) where the maths just does not stack up for me. What sort of institutional retard backed this IPO?
1027 days ago
The Sith Lord Zak Mir always tells me that all publicity for him is good publicity. That is why, as I, alone, report his utterly atrocious stock picking, inability to understand even the basic grammar he was taught at Harrow or his strange business ventures. He should be so incredibly grateful to me. I am almost the only chronicler of the Fall and Rise of Reggie Mir. And that brings us to Lift Ventures. Is it Lift Off or Lift on?
1034 days ago
The IPO of Oxford Cannabinoid (OCTP), pumped by the tawdry Mail on Sunday on the, false, supposition that Mr Snoop Doggy Dog was an active investor, was – as I predicted an overvalued POS and those backing it have, in eight months, already lost half their money. This week it admitted to delays in work on its two lead compounds, not that, even before, either would – if they worked – hit markets till 2027. Its founder chairman will soon step down after a share dealing scandal but is already in Thailand “finding himself”. But it gets worse.
1075 days ago
When not earning millions promoting one of the most hateful homophobic regimes on this planet or appearing with his good pal Elton at a gay Pride event, Mr David Beckham has become a celebrated investor. There is Guild E-Sports (GILD) which will see him turn £250,000 into £15 million however badly the company does. And it is doing badly. And then there is Cellular Goods(CBX) with the same motley crew of pre IPO investors and advisors. It makes facecreams which must be useful if, like Becks, you have two of them. It had results today.
1096 days ago
SpectrumX Holidings Limited claims to be ready to set to launch, inter alia, the world’ most powerful hand gel to stop the spread of you know what. Admittedly it is, according to its own website, only at the “patent pending” stage but it reckons that a Q3 2021 £50 million IPO is happening. We are now in Q4 so what’s the catch? Yesterday, Nick Michaels of Alfred Henry confirmed his firm was acting for SpectrumX and the IPO was still on, albeit delayed. Today administrators were called in. Ooops.
1100 days ago
I have this one bang to rights. It is all there in the IPO prospectus (page 135) and the most recently released annual report. On the basis of what I describe the so -alled independent NEDs need to consider their position, the Nomad Allenby needs to force an immediate repayment of the sums involved and the company, already seriously uninvestable though capitalised at £32.1 million is a 100% bargepole. The image below is from one of its sites and page 18 of the annual report. At least this company understands irony.
1100 days ago
Back in last July I exposed AIM Wannabee Central Copper Resources. The team behind it had listed a company, Cradle Arc, on the AIM sewer in late 2018 which within a year saw its shares suspended pending clarification, engaged in tax evasion, traded while insolvent and deceived investors before going bust. Surely advisers and AIM Regulation would not allow such scallywags a second chance?
1102 days ago
Because the CEO of NightCap (NGHT) is a bird, the financial press feels obliged to overlook the manifest corporate governance failings of this overvalued disgrace to AIM. Anyone criticising the greed and absurd conflicts of interest of Dragons Den star Sarah Willingham is naturally a sexist beast all of whose views can therefore be dismissed. As such no member of the mainstream media will report on section 12.1 of the IPO prospectus from December 2020. They are too scared. I’m not.
1104 days ago
Nightcap (NGHT) the joke SPAC created by Dragon’s Den star Sarah Willingham to buy an insolvent bars group where she was a director and major shareholder, not from the receiver as it should have done, but from shareholders, including La Willingham herself, has published its first annual results and they are truly diabolical.
1108 days ago
I follow up on yesterday’s bearcast on Wandisco (WAND) and the deal done by CEO Dave Richards with the hoods at Equities First Holdings (EFH). Dave called me up. I explain why he is naive not dishonest but why he needs to grill his advisers. Was there a brown envelope? Who penned the RNS which now looks even more dishonest with what I tell you today? Dave should shoot and/or his advisers as they have landed him in the reputational soup. I then look at today’s latest disgusting revelations on the Charlie Wood Hydrogen and Helium SPAC spoof IPOs, at the utter naivety of Aquis and I have advise for certain City folk on what they should do as the regulator has failed. Liam, Fungai and he who shall not be named you know what to do. I look at Bowleven (BLVN) and also at Caracal Gold (GCAT) asking who is selling?
1110 days ago
In today’s podcast I look at Argo Blockchain (ARB), at Galileo Resources (GLR) as Colin Bird tried to polish a total turd of drilling results, at why nobody cares about TR1’s even the supposedly virtous folks at Net Zero Infrastructure (NZI) with their patsy Tory career politician NED and finally at the new David Lenigas IPO, Hydrogen One PLC, which is, for so many reasons, a complete and utter disgrace and makes me ashamed to be a capitalist. What is the point of integrity and honesty when shit like this happens?
1111 days ago
Yesterday, I revealed how David Lenigas of Horse Hill infamy and a bunch of disgraced financiers were going to book 900% gains made in just two months via the Aquis listing of Hydrogen One. I am afraid that it gets much worse and NED Fungai Ndoro, who appears to be the only person involved in this nest of vipers not to be given cheap stock, must surely be considering her position.
1111 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.
1115 days ago
I discuss today’s US elections, what will happen and what it means. Suffice to say Let’s Go Brandon! Then I look in detail at the forthcoming IPO of ProCook Group Limited which you can access on Primary Bid HERE. I would not. I also look at Kefi (Kefi), Sensyne (SENS) and Berkeley Energia (BKY). There is more on Let’s Go Brandon and on US politics in a podcast special on my own website HERE
1116 days ago
Scumbag Labour Lord Drayson has today stated that the market fails to value his Sensyne (SENS) company and that as a result the company is enterimg a formal sales process as he tries to secure funding. So why might the market “undervalue” this company? Take your pick from these reasons.
1117 days ago
So who is behind the offshore (Belize) based tax dodgers at 360HK Limited which took part in the 3p per share IPO fund raise of Net Zero Infrastructure (NZI) on the Sub Standard List but has been dumping its shares into the pump ever since? It is a simple question but the company’s response will shock you? Or maybe with a patsy career politician Tory Baron and mate of Boris on board it will not.
1121 days ago
I start with the two companies beginning with V and articles on this website today: Versarien (VRS) has responded, weakly to this expose. Vast Resources (VAST) cannot respond to this bombshell which exposes the cancer at the heart of AIM Regulation again and makes the shares uninvestable at any price. Then I look at Ben’s Creek (BEN), Skinbiotherapeutics (SBTX) on product launch day and at Central Copper where an IPO that should be pulled is delayed again.
1141 days ago
Remember, I read the ghastly Mail on Sunday so that you do not have to. I discuss its latest campaign backed by Primary Bid and the chancers of Bristol, Hargreaves Lansdown. It is fag end of a bull market nonsense.
1141 days ago
The IPO of Oxford Nanopore (ONT) was Christmas came early for the brokers involved. Raising £1.87 billion of either new cash or from flogging shares for exiting shareholders at 425p will have generated almost £90 million in commission which, even in these inflationary times, will buy an awful lot of coke and upper class hookers. To support such an exercise there were numerous enthusiastic buy notes. So with the shares now at 577p should we believe the bullshit buy notes?
1143 days ago
I should have mentioned this in bearcast yesterday, the maths is clear and unchallengeable. Abingdon Health (ABDX), a company I warned you about at IPO as it was insolvent and the valuation absurd, is pumping its stock via the yellow journalists on the Daily Mail and the Telegraph ahead of a bailout placing. You know the score: mug punters overpay in the secondary market ahead of a placing at a vast discount to fund managers.
1153 days ago
I receive an invitation to an online pot conference. More signs this sector is hot and thus one I shall avoid. I mention Chill Brands (CHLL) which is not hot and which could see its shares suspended by Friday. I discuss why the Tiger Royalties (TIR) portfolio is toxic and could implode. Surely its Nomad Roland “fatty” Cornish can peer over his ever expanding belly and see the danger? I discuss en passant Go Ahead (GOG) and in more detail interims from Powerhouse Energy (PHE). Then to why HEIQ (HEQ) numbers today are so dripping in red flags as yet another recent IPO ( 10 months ago) comes crashing down.
1167 days ago
Central Copper was meant to list on AIM in early August, it even issued an RNS to that effect. But the revelation of the shocking track record of tax evasion and shareholder value destruction by the same management team just two years ago at their prior car crash, HERE, put a spanner in the works.
1173 days ago
After the July lack of profits warning, you might have thought that interims today from Parsley Box (MEAL) could not make things any worse. You would be wrong. Anyone buying into the IPO on March 31 when the company raised £5 million and existing shareholders dumped £12 million of shares, would look at the unfolding horror and feel physically sick. This is what happens in bull markets, shit floats, smart folks cash out and fund managers show they are as dumb as anyone else and buy into it all, albeit with other folks’ cash.
1174 days ago
NFT Investments (NFT) is like Dispersion Holdings (DEFI) an investment company listed on the Aquis lobster pot. The chancers who own most of the shares thanks to pre IPO funding at a huge discount to the IPO are the same crew led by Mike Edwards and Jonathan Bixby. Scumbag broker Novum raised most of the cash, £11.2 million for Dispersion and £35 million for NFT. And the connections do not end there.
1193 days ago
I discuss two developments at the Welsh Hovel. There is great news HERE but also a bit of a disaster which could have been fatal for the cats and bad for me. Then I look at backing proven failures or chaps who wave red flags mentioning Sensyne (SENS), Nigel Wray, me and a few others. That leads me on to the wall of silence from Central Copper Resources about its AIM IPO and me explaining what is really going on, notably at broker Brandon Hill. Finally I look at today’s news from Skinbiotherapeutics (SBTX) and where, as a result, I expect its shares to be at Christmas.
1194 days ago
Yesterday we suggested that Adam Reynolds was involved in the IPO of dog Abingdon Health (ABDX). This was inaccurate and I take full responsibility and apologise for the error. which was swiftly corrected. Reynolds buddy Lynn Rees was involved in the IPO which I exposed as a shocker HERE but as for Reynolds it seems he agreed with me.
1200 days ago
It is my penultimate Sunday in Greece and I consider the idiot Mark Drakeford and special hurdles I face in returning to Wales. I have spent the afternoon poisoning frigana in the snake fields. Photos tomorrow but I discuss that. Then I ask listeners to do a final chip in to raise another £495 to see loathsome pig Neill Ricketts sweating in court. Please donate HERE. Finally, I ask you to send 2 emails to [email protected] tonight. One on Central Copper resources and why the IPO must be stopped and one on why sleazy Tim Yeo must be sacked at Powerhouse Energy (PHE).
1200 days ago
Yesterday I flagged up the IPO of Central Copper Resources, a company set to list on the AIM sewer this week. There are numerous reasons why it should not and I have today written to AIM Regulation and broker Brandon Hill asking the former to intervene and putting the latter on notice
1200 days ago
Ian Westbrook is now just £800 from making loathsome Neill Ricketts of Versarien (VRS) sweat in Court in January like the pig he is. Please keep those tenners, twenties and fifties coming in HERE. I look at today’s bombshell on the fraud Supply@ME Capital (SYME) and explain why that makes it a slam dunk zero. Then it is Central Copper resources where I am sending out numerous emails to get its AIM Sewer IPO strangled at birth.
1201 days ago
On 14 July, a company called Central Copper Resources announced its intention to list on the AIM Sewer. On 22 July, a schedule one announcement came out stating that the IPO was expected ”early August”. In light of what I reveal below, I would argue that if AIM Regulation is to have any credibility at all it must stop this IPO now.
1214 days ago
An early podcast as Joshua and I are off exploring for an old bridge and a back road to Orova shortly. In today’s bearcast I look at Predator Oil & Gas (PRD) – a cause for extra ouzo tonight as Ron Pilbeam gets the order of the boot after my missive to the FCA – at new IPO Spinnaker Acquisitions (SPAQ) which looks like an overpriced nest of vipers and finally at the fraud Supply@ME Capital (SYME) whose RNS today is just complete and utter bollocks.
1217 days ago
This is pretty clear. Even the woke dullards at the FCA should be able to sort this out with one phone call demanding that Wildcat Petroleum (WCAT) produce its bank records from 30 December 2020 to 31 January 2021 or maybe later. I have sent the letter below.
1229 days ago
Forgive the late bearcast but the local members of the Guardian reading classes came round to swim with Joshua. In today’s podcast I look at Ariana Resources (AAU), Bluebird Merchant Ventures (BMV) and ther IPO frenzy with especial reference to Revolution Beauty and Forward Partners (FWD)
1231 days ago
Obviously the big excitement was the snake but Joshua and I also faced down mask fascists as we bought a hoover in Kalamata. Most of today’s bearcast concerns the antics of Justin the Clown, Boston International (BIH), the rash of IPOs and what it means and Argo Blockchain (ARB).
1268 days ago
In today’s podcast, I cover Colin Bird’s latest pointless IPO, African Pioneer (ASP/AFP), Galileo Resources (GLR), Amigo (AMGO), Optibiotix (OPTI), Nightcap (NGHT), Catenae (CTEA), Powerhouse Energy (PHE), Sound Energy (SOU), the fraud Zoetic (ZOE), Harvest Minerals (HMI), and how proud I am of my garden.
1279 days ago
Dispersion (DEFI), the latest Aquis listed pump from the Bixby/Edwards stable has announced its first investment since its tawdry IPO but is everything quite what it seems?
1281 days ago
Firstly: it is exactly one week to Rogue Bloggers for Woodlarks and we are just a couple of hundred quid from £41,000 raised (our target is £48,000). If you have yet to donate, how about getting us past £41,000 tonight, HERE. Then I consider all aspects of the IPO of Oxford Cannabinoid Technologies (OCTP).
1301 days ago
I start with house hunting with my mother-in-law in what is a bubble within a bubble. It has to end in tears. Then I look at Nightcap (NCAP) and the disgrace of its IPO on the AIM sewer becomes even more disgraceful after today’s expose HERE. Tomorrow a modest 15 mile Woodlarks training walk is planned. we are at more than 33% of the Rogue Bloggers target but 94% of you are yet to donate. Go on, please give generously today HERE.
1306 days ago
Talking of disgraces, 96% of listeners have yet to donate to Rogue Bloggers for Woodlarks, please do so today HERE. I have a message from Nick Richards for the 4% who have been generous. The stockmarket disgraces I cover are the fraud Zoetic (ZOE), Anemoi (AMOI) and Abingdon Heath (ABDX) – where there really must be a Steward’s on its Christmas IPO, which I panned at the time. I also look at Scotgold (SGZ) and discuss why Andrew Monk called SUPP/WPCT so badly wrong.
1325 days ago
I have a few words about the disasters that are Deliveroo (ROO) and Parsley Box (MEAL). Okay the latter is a duff IPO and a disaster in waiting. Then I move onto NFT Investments, an IPO on the way from First Sentinel and the scumbags at Novum Securities. Hold your nose and brace yourself for just how opportunistic this is. I am only half kidding about Becks.
1357 days ago
There is news from the garden. Then a few notes on covid testing stocks. Then comment on Umuthi Healthcare (UHS) and finally a remindcer of AIM Rules for Westminster Group (WSG) chaired by ex Tory MP Tony Baldry of 3DM infamy. There is also an explicit warning on Eden Pharma, a potential pot IPO.
1372 days ago
The UK subsidiary accounts for Versarien (VRS) have finally appeared at Companies House (despite being signed on 16 November 2020) and in this deep dive note, I take look at the original trading segment of Versarien namely the Hard Wear and Metallic Products segment and update prior year note. It is, neededless to say, not impressive and showds what a con was the initial IPO in 2013.
1378 days ago
Deep Throat has sent Winnileaks 2 confidential presentations for cannabis IPOs c.o low grade brokers Novum and Peterhouse. Novum bats for the Beckham linked Cellular Goods which I exposed here and it is so sleazy it includes a chart of the share price of the Zoetic (ZOE) fraud as a reason to buy. I discuss these companies as well as the Peterhouse play, Spinnaker Opportunies (SPO). If that opportunity knocks, I’ll pass. I look at Remote Monitored Systems (RMS) and discuss the two shares I bought and why: Red Rock Resources (RRR) and AEX Gold (AEXG).
1387 days ago
I start with a joke about Lord George Young and the late Jimmy Savile prompted by a discovery my sister made today in Shipston. Then I look at IQE (IQE), Cineworld (CINE) and the scandal that is the David Beckham linked pot IPO.
1428 days ago
I discuss both the article which you can see below which really is the worst piece of financial journalism seen this year. It does bring me to why celebrity endorsed investments are so often utter stinkers, looking back at those backed by David Beckham, Fergie, Linney himself, Fergie and at the NightCap AIM IPO driven by ghastly Sarah Willingham with no conflicts of interest at all!
1440 days ago
In today’s podcast I discuss Joshua’s Advent calendar then look at 2 very naughty Nomads and 2 of their grossly over-valued clients. Roland “Fatty” Cornish looks after European Metal Holdings (EMH). Liam Murray of Cairn looks after the ultimate Penny Dreadful, Catenae (CTEA). Then I return to Sarah Willingham’s NightJar and why she is destroying value for morons who pony up £6 million for the IPO on day 1. This is a scandal and Nomad Allenby should be ashamed. Then onto Purplebricks (PURP) before I look at Summerway (SWC) and why, whatever you pay you MUST buy its shares ASAP
1441 days ago
After the company’s PR firm managed to persuade another lacky journalist at the Sunday Times to do a massive puff piece for Nightcap, a firm run by Dragon’s Den Sarah Willingham, I am this morning invited to invest in the AIM Casino IPO via Primary Bid. Here is what the Sunday Times and other pliant hacks do not tell you and this is why “I’m out” on this one. I’d rather eat my own toenails than invest.
1441 days ago
On Joshua’s Advent calender the shepherds go to Bethlehem. That is almost true, well a bit true as I discuss. In prior years I have penned a three part Christmas carol featuring a villain of the year: Rob Terry, Neil Woodford and Chris Oil have starred. So please nominate your villain of 2020 for this year’s opus magnus below. In the podcast I discuss the IPO of Sarah Willingham’s company Nightcap on a day when most of its bars go into tier 3. She is ‘avin’ a giraffe. There are other red flags and questions to ask. Then I look at Jubilee Metals (JLP) and Bahamas Petroleum (BPC) asking if, on AIM, anyone gives a toss about the law of the land. Finally I look at Dignity (DTY) where i retain grave concerns.
1441 days ago
The time to invest in a sector is when everyone loathes it. Think oil earlier this year. The time to avoid it like the plague is when it gets so hot that crony capitalists float investment companies hoping that mug punters will overpay for shares in their vehicles which will then overpay for shares in actual companies. Meanwhile its snouts in the trough all round for the board and City advisers.
1445 days ago
I accept that you might justifiably question a minor institution in the Fens which has historically only excelled in the production of homosexual Russian spies. But Cambridge University is not all bad and today it has served up data which should send shivers down the spine of those holding shares in Novacyt (NCYT) or planning to back the luducrous AIM Casino IPO, announced today, of Abingdon Health.
1460 days ago
ShareSoc has a question about PE backed IPO’s like the AA (AA). I answer it. I discuss the modus operandi of Chris Akers with reference to Trafalgar Property (TRAF) and then long chats with David Bramhill of Union Jack Oil (UJO) which looks a great trading buy and then with another old geezer, that is to say my broker.
1772 days ago
How different it was eighteen months ago when Investec raised £62.5 million at 160p to IPO Theworks.co.uk (WRKS). Just think about how much coke and how many hookers you could snaffle from crony capitalist Investec’s fees on that deal! Hmmmmmm. You bring the hookers, I’ll bring the Charlie, the lads at Investec are ‘avin’ a party. Today, after just avoiding yet another profits warning, the CEO has been resigned with immediate effect and the shares are just 33.9p. Ouch.
1807 days ago
There are no guests in this week’s show which is sponsored by Open Orphan PLC (ORPH). It is just me sitting in the Greek Hovel. I start with the Election, move on to the odd events at Versarien (VRS), sectors deemed to be scorching hot and others where death is not yet discounted. I look at fake IPO valuations and consider a possible case of securities fraud on AIM. If you like this and can’t wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.
1807 days ago
I start with me voting and the Mrs not being able to vote here in Wrexham earlier today. Then there are two reports I have had that the Vox markets IPO has been pulled, I wonder if Justin the Clown will mention this in his podcast or will he be too busy blowing off Neill Ricketts of Versarien (VRS) whose abject results I discuss. I look at IP Group (IPO), Purplebricks (PURP), Premier African Minerals (PREM) and Bidstack (BIDS) wondering if it will serve up its overdue warning after hours tonight? Finally there is a plea on behalf of my cats.
1812 days ago
On today’s podcast I discuss Brokerman Dan, the Tory canvasser and the half way house for heroin addicts. I issue a podcast challenge to Justin the Clown as I discuss the joke Vox IPO, I look at a pathetic deadwood press ramp for Woodford Patient Capital Trust (WPCT) and offer up another reason to shut down all open ended property funds. And i have a prize contest for election day, deadline to enter is Monday midnight.
1812 days ago
I am coming under some pressure not to knock Vox Markets ahead of its IPO on the NEX lobster pot, but its accounts for the year ended August 31 have been delivered to Companies house and are a total joke. If this POS lists and fails, as it will, the accountants Plan-A financials of Brentwood Essex should be sued to high heaven as these numbers are a joke.
1812 days ago
Even half way up a mountain in rural Greece, news reaches me that the spoof that is the Vox Markets NEX Lobster Pot IPO following the collapse of the merger with Align, looks to be devolving from the sublime into the ridiculous. NEX is a great place to list if you want to lie to investors but not if you are expecting any liquidity at all in your shares.
1840 days ago
Firstly so many thanks to all of you who donated to the Woodlarks Christnas Grotto appeal. 101% of our target has now been reached so I’ll call it a day. Thank you again. In today’s podcast I also discuss Big Dish (DISH), and Dev Clever (DEV) two examples of why you should never invest in an IPO and I have data to back that up. I look at Tern (TERN) and at Sound Energy (SOU), shame on James Parsons, and then in detail at Velocys (VLS).
1856 days ago
I start by explaining why this bimbo who complained about me in public last night really is a bimbo and why her firm is in no position to complain. Then I look at why Rathbones let down my Aunt Lucy by giving her Woodford exposure – chaps you really need to sign up to a certain website. Then a look at how to value IP Group (IPO) and Woodford Patient Capital Trust (WPCT) and changing manager changes little. Finally I look at the mad woke world of Synthomer (SYNT) as it served up a warning today.
1856 days ago
Neil Woodford may have dumped his shares in IP Group (IPO) at 53p a few weeks ago but he collaborated closely with the company and its fortunes are in many ways tied into the scandal involving the man the Mail on Sunday, until recently, called Britain’s Buffett about once a fortnight. IP shares now trade at 62p but what are they worth? I commissioned resting fund manager “The Badger” who previously explained why, irrespective of who manages it, WPCT is worth only 3p a share, to produce a report. His work is below.
1867 days ago
The IPO of Rutherford International (RUTH), formerly Proton Partners, only happened because Neil Woodford was prepared to commit £100 million of other folks cash to it on a ludicrous valuation. That move increased the management fees he banked materially but will cost his investors a packet as I explained, again, in bearcast earlier. But now Rutherford is utterly fecked by Woodford’s firing by EIF and needs to issue an RNS asap.
1882 days ago
Yes my daughter and I will be at Oxford United tonight to see the mighty Hammers. COYI. As I try to contain my excitement I discuss Neil Woodford and what the dumping of IP Group (IPO) shares tells us, Aston Martin Lagonda (AML), the FCA and mini bonds and Alexander Mining (AXM).
1897 days ago
Fake Sheriff of AIM Marcus Stuttard and colleagues what a shit-showeryou preside over. Thanks to Adept Technology (ADT) we have a stat that damns you. I discuss this, the comedy/tragedy that is Providence Resources (PVR)/ Lansdowne Oil & Gas (LOGP) and their Chinese pals. I look at IP Group (IPO), its results, its balance sheet and its association with the stench of Neil Woodford. Apologies to the fragrant Lizard for my words. And I chat about chatting to Carson Block of Muddy Waters about Burford (BUR) and other matters.To get the Carson Block podcast downloaded to your phone register HERE
1908 days ago
In today’s podcast I look at Mobile Streams (MOS), Xeros Group (XSG), what causes Neil Woodford to call it a day and how the stench of his activites makes IP Group (IPO) uninvestable at any price whatever broker Jefferies says in a note today.
1972 days ago
We live in a mad, mad world and I cite four examples of this: the banning of the original US flag by Nike 48 hours ahead of July 4, illiterate Zak Mir going into PR, the PI love-in on Bulletin Boards with utterly worthless Premier African Minerals (PREM) and the IPO of Funding Circle (FCH). I look at Dialight (DIA), and Fastjet (FJET) and then list my top ten shorts worth more than £250 million (with two slightly smaller cheats included) and explain the bear case for each.
1985 days ago
In a bearcast last Thursday I discussed the complex relationships between IP Group (IPO) and disgraced Neil Woodford. They stink and IP, at 74p capitalised at £784 million, will be dragged into this scandal and that alone makes it a toxic investment. But there is a bigger reason why this company is a compelling short…
1990 days ago
In today’s bearcast I comment on Quindell fraudster Rob Terry in light of my earlier artice, I look at the FRC, PWC and Redcentric (RCN), ValiRx (VAL), Plutus Powergen (PPG) and at Neil Woodford and IP Group (IPO) which might be next to unravel as the contagion spreads.
1997 days ago
I have flagged up repeatedly that one almighty headache for Neil Woodford is that NEX lobster pot listed joke company Proton Partners International (PPI) has a legally binding right to demand up to £70 million in equity investment from Nei Woodford’s funds. Given that its shares have traded once in the 3 and a half months since its scandalous IPO this is a real nightmare. At 5PM today we learned Proton has called Woodford for £25 million…questions, questions…
2017 days ago
Retained losses are £27 million and counting, the shares have collapsed from 82p at IPO to just 0.4p, Blur (BLUR), now rebranded as Maistro (MAIS), has been a disaster for investors but at least its founder Phil Letts and his ghastly wife who was also on a fat salary have been able to buy and upgrade a Country mansion, as we noted HERE. Today as it issued another lack of profits warning and warned of another cash crisis, Maistro says it is going to delist from the AIM Cesspit.
2034 days ago
I feel rather left out. A leading broker has received a fascist lawyers letter from Shard Capital for describing the IPO of Ferro-Alloy Resources (FAR) at 70p on 28 March as a “scam.” He was a tad harsh in that description but with the shares having tanked to 31.5p already and still a screaming short, it does not smell good..So here is what stinks.
2060 days ago
In covering this subject, my prime concern is not to hurt the feelings of Britain’s top share blogger, thirsty Paul Scott, who filled his boots at the 17p IPO. Mr Scott repeatedly argued, normally via 3AM thirsty tweet rants, that my tipping the shares was holding them back and so when I advised readers to bank 100% gains at 34p (and did so myself as well) he argued this was awful advice but thought it good for the share price which he saw at 65p+. The stock is off another 5% today at 22p to sell so should we be thinking of horrifying thirsty Paul and buying back in?
2096 days ago
I start today's podcast with an expansion on the themes in today's Tomograph, why I am so depressed about the currupt and rotten state of the West. I discuss Kenmare (KMR) and naked NEDs and then look at Neil Woodford with reference to today's IPO of Proton Partners (PPI). If this was any other fund manager the FCA would have moved in to replace him by now. If you enjoyed this podcast please support the EIGHT rogue bloggers for Woodlarks with a small donation HERE
2106 days ago
The Sunday Times “reveals” ( i.e. is told by Neil Woodford’s PR spinners) that his Proton Partners , proton beam centre operator, is planning a £320 million IPO and hoping to raise £50 million on, o-f all places, the NEX Lobster pot. This is a spoof but the deadwood press ( step forward Peter Evans and Sabah Meddings) are happy to assist the great one.
2108 days ago
I am a shareholder in the disaster that is Argo Blockchain (ARB) thanks, I think, to Richard Jennings of Align who suggested I back the IPO. Richard is a bull after today's news but as I explain in bearcast HERE I am not and think he is talking bollocks. But in the interests of balance here is what Richard has to say:
2116 days ago
Floated on the AIM Cesspit in May 2018 at 15p a share and raising £6 million Maestrano (MNO) describes itself as a “cloud business integration platform with cross-app data synchronization” I’d describe it as an univestable piece of shit.
2159 days ago
Given that its IPO prospectus was fraudulent and how its earnings have been materially overstated in recent years as demonstrated here, only the sort of moron who would back the fraud Globo to the hilt would still be owning shares in First Derivatives (FDP). They are an outstanding short at 2125p. But now lets look at Kx Systems Inc and something that might just blow up First early in the new year.
2170 days ago
After its IPO I asked you all for suitable captions of the photo below. As you can see HERE there were many en tries but there can be only one winner of the sem i naked photo of the UK's top share blogger (mornings only), thirsty Paul Scott. If you feel aggrieved by the winner, fear not, we will have another contest featuring Sam when FinnCap (FCAP) has its first profits warning. So you will not have to wait too long. Anyhow the winner is...
2180 days ago
After spunking millions backing companies wanting to change the laws of physics or disrupt the markets for wooden pallets, washing machines and drinking water a chance to revolutionise the world of mattresses was just too good to pass up on for Neil Woodford. So he backed the May 2017 IPO of Eve Sleep (EVE) at 100p heavily and as the share price sank he added to his holding taking it to 29.05%. Neil always knows better than the market….
2180 days ago
The picture below is of Sam Smith the CEO of FinnCrap (FCAP) celebrating the IPO of her company on AIM at the offices of the London Stock Exchange. I ask you for suitable captions in the comments section below with the prize for the wittiest and rudest being a semi naked picture of Britain's top share blogger (mornings only), Thirsty Paul Scott. For what it is worth I set an early low bar with my suggestion...
2181 days ago
I start with the news about the olive harvest. When you get the full financial report you will laugh. I almost did. I am almost tempted to get Neil Woodford to invest in it. Then I discuss Thomas Cook (TCG), Audioboom (BUST) and Tekmar (TGP), another disastrous IPO on the AIM Casino. I also discuss the battle between the metropolitan elites and the rest of us ref. France, but also the UK and Brexit.
2189 days ago
I am back at the Greek Hovel and the noise outside is quite unbelievably torrential rain. I discuss the weather and how stunning the Hovel now looks. Photos are starting to go up HERE on TomWinnifrith.com. I look at Optibiotix (OPTI) and today's stunning news. Cynical Bear needs to get ready to send me another bottle of ouzo. I look at Xeros (XSG), Thomas Cook (TCG) and Telit (TCM) where the clock is ticking ever louder. I have a few more words on the IPO of FinnCrap.
2189 days ago
If you wish to ignore my advice go ahead and pony up 28p a share (a £48 million market cap) in the IPO of smug Sam Smith’s FinnCap via Primary Bid HERE. But I would not. Here are the hard numbers which show what a joke this IPO is...
2189 days ago
For all the reasons explained in yesterday's bearcastI'd rather eat my own toes than invest in the FinnCap IPO. But if you take a different view you can subscribe for shares at 28p, in a minimum size of £100, via Primary Bid HERE.
2191 days ago
In my penultimate bearcast from Britain before heading off for the olive harvest in Greece I discuss Malcolm's Santa rally, the IPO of FinnCap which is a bargepole for me and why merging two mid tier auditors, BDO and Moore Stephens, will do nothing at all to diminish corporate fraud.
2208 days ago
As I write, shares in First Derivatives (FDP) the company floated via a fraudulent IPO and which has overstated its earnings by c50% for each of the past three years, are surging. Interims have gone down well and the stock is up 160p ( c5%) at £34.10. But hang on Henry… here are 11 points you may wish to consider before buying
2219 days ago
I start by referring you to a video just up of my labour of love, the Greek Hovel, which you can see HERE. Then I take apart the bullish nonsense about the stockmarket Malcolm Stacey served up yesterday HERE. Finally I look at IPOs planned for the next few weeks such as that of Sam Smith's FinnCrap and broker AJ Bell. Why oh why go now? Surely they are both either mad or desperate? I discuss in detail why both should be avoided like the plague, referring also to the Funding Circle IPO debacle.
2223 days ago
Today brings news that FinnCap, Finncrap to its friends, the biggest AIM Nomad and broker is to buy Cavendish Corporate Finance, the corporate advisory firm run by pompous Tory Lord Leigh, who claims to speak for ordinary shareholders but is actually a City fat cat like the rest of them, and that the combined business will itself list on the casino in December. Is this a sign that AIM is headed into irreversible decline?
2229 days ago
A few days ago I showed hard evidence that the 2002 IPO of First Derivatives (FDP) was based on false earnings. That was dismissed by supporters as being so long ago that it did not matter. It does! But how about we move to the issue of whether reported earnings in the past three years are "real" or cooked up. I suggest it may well be the latter in which case the stock is going to tank at some stage, soon, when investors realise this. Let me explain...
2231 days ago
Firstly thank you if you have contributed to the Woodlarks Christmas Grotto appeal - we are now just £80 off the £2,500 target so if you can spare a fiver go HERE. In today's podcast I look at the benefits of aging and then at Footasylum (FOOT) in real detail after its latest abject results. I cover workplace diversity, macro trends, cashflows and who is to blame for this disastrous IPO. I hope to see some of you tonight in London and as you may gather I am on the warpath.
2238 days ago
In a weekend bearcast I flagged up that the real issue with First Derivatives (FDP) is that its core business is a rotten generator of cash. And that – as well as the fraudulent IPO and dodgy related party deals is why the shares ( off again this morning to £28.35) remain massively overvalued. So what do you do if you are set to report dire free cashflows? Natch turn to the Sam Antar playbook – meet 1010 Data
2305 days ago
No, I still do not understand this blockchain malarkey but FWIW we have stagged the IPO of Argo Blockchain (ARB) on the standard list today at 16p. The fund raise was just so impressive. Argo set out to raise just £6 million.
2307 days ago
The Communications Director for IP Group (IPO) is a former workmate and all round superstar Ms Liz Vaughan Adams, aka Lizard. So Lizard, I'm sorry to be writing this but I picked this up on the broker wires this morning and I cannot disagree with this sell/go short thesis.
2339 days ago
Tomorrow is my longest training walk yet for the Woodlarks 32 mile charity walk with Brokerman Dan. I plan to set off at 5 AM on a 26 mile trek. Think of my utter pain in this awful heat and please give £10 to a great cause HERE. I then look at the recent Radio 4 programme on shorting which was sprinkled with pompous and half-witted comments from ShareSoc. They are naive and have it all wrong and I explain why. Then I look at whether share dealing should be ethical - ref Dave Lenigas and his ramping of UK Oil & Gas (UKOG) - should we all get on board? Finally I look at the IPO of Amigo which I find revolting at every level.
2390 days ago
Chaired by Adam Reynolds this session boated the CEOS of Immupharma, Optibiotix, soon to IPO Phynova and ValiRx. Enjoy.
2392 days ago
Big Dish has yet to IPO but the my loyal sidekick Steve Moore has already committed me to invest £1000 in the IPO after a Dragon's Den pitch HERE - where the pizza Hardman Darren Atwater was also wowed. So far no one has asked me for any cash so I guess the IPO is still on the runway but here is more of what got Canada's leading bearded Marxist, who running a capitalist enterprise in Clerkenwell, and also Steve Moore so excited.
2478 days ago
In this podcast recorded in a car park I reflect on new mounting problems for Neil "Nomates" Wooodford and wonder if the demise of his empire will be the Burmah Castrol moment of 2018. I ask if the nutso planned IPO of Soho House is a lagging canary and I reflect on the folly of most acquisitions.
2482 days ago
I am really warming to analyst Anne Stevenson-Yang of JCap whose latest note on Neil Woodfords pals at IP Group (IPO) "Some Companies deserve to die" is a stormer. And she cites the great work done by Shareprophet (sic) in her report.
2510 days ago
In this podcast I look at the FCA Report into CFD providers. It rightly slams themn. We have told ETX we will have nothing more to do with it and really I want no part of this industry. As a libertarian I look at an industry where 76% of customers lose money. Then I hail the King, that is the King of the spoofers, Mr Clem Chambers of Online Blockcrap (OBC) - as I also cover HERE. I look at Moss Bros (MOSB) and what its profits warning plus the problems at Byrons say about B2C stocks. I also comment on Sosandar (SOS), which we own, en passant. Finally I look at the IPO of Nuuvera on the TSXV ( a market that makes the AIM Casino look sober and well run) and what that means for FastForward (FFWD). I again explain why all cannabis stocks will not fly.
2533 days ago
US based JCap has published a devastating report on IP Group (IPO) a company heavily backed by Britain's most conceited fund manager Neil "Nomates" Woodford. It reckons that the shares could halve or it could be far worse.
2537 days ago
Another bad day at the office for Britain's most conceited fund manager Neil "nomates" Woodford. There is yet more bad news at Vernalis (VER) now 9p having collapsed again - Nomates has been a big cheerleader after all prior disasters saying Mr Market is wrong. Whatever. Then there is the issue of IP Group ( IPO). Elsewhere I takje another look at IDOX (IDOX) where I am even more bearish and then at Tungsten (TUNG) which looks all wrong. I also comment on Dialight (DIA) , The People's Operator (TPOP), On Line (ONL), Milestone Group (MSG) and a chat with Mark Slater on a pub company which is just the wrong price.
2547 days ago
It looks as if the double share tip video will be out on Tuesday - www speeds in Greece are just too slow to upload it. In today's bearcast I start with the leaking of failed bids, ref Elegant Hotels (EHG). Who benefits and why do it? Then I look at the fund managers accused of colluding to drive down IPO prices. I really do have some sympathy with them and explain why. Then it is onto UK Oil & Gas (UKOG) and Alba (ALBA). Finally I take apart today's ludicrous claims about growing poverty in Britain. They are pure bollocks.
2579 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.
2584 days ago
Next week the Bank of England will increase base rates. Almost certainly by not enough but it is a start and a sign of what is to come. I look at new data out this week which shows just how much of a shock even a rise of 0.5% will be to millions of our fellow citizens and what the ramifications of that will be. I look at share sales at Berkeley Group (BKG), I look at CEO pay at ASOS (ASC) and finally have real doubts about the forthcoming IPO of Footasylum which I'd dodge big time.
2664 days ago
The 2005 flotation of Telit Communications (TCM) will - with hindsight - be seen as yet another badge of shame for AIM, the casino which laughably brands itself as the world's most successful growth market. Until 2004 the CEO of Telit & the companies it bought was, in official documents such as THIS, calling himself Uzi Katz. By the time of the IPO that was Oozi Cats. Let us now turn to section 6.7 of that document.
2675 days ago
In five year time, the king of the fraudsters, Rob Terry of The Innovation Group and Quindell (QPP) infamy says he will be floating his latest ponzi, Quob Park Estate for $1 billion. Bollocks. There is more chance of me getting lucky with the entire Dallas Cowboys cheerleaders squad within the next 48 hours. As the SFO investigation into the £3 billion Quenron fraud ratchets up a gear, the only thing Rob Terry will be doing in five years time is praying that his next Roomie at Ford Open doesn't have a taste for ugly older men.
2675 days ago
i3 Energy (13E) floated at 55p earlier this week. Its shares now trade at just 34.5p to sell. Even by the standards of the AIM Casino this has been a god-awful IPO. But it is going to get an awful lot worse.
2678 days ago
It was only a couple of months ago, on May 10 - 6 months behind schedule - when wannabee North Sea oil developer i3 Energy (I3E) announced it was to raise up to $50 million as it joined AIM. Since then, as we have noted before, there have been numerous false starts and it was obvious to all concerned - bar Amanda Van Dyke's related party snakefest Glenwick (GWIK) - that the fundraise was in deep merde. Oh yes. Party on bear dudes. This IPO has bombed and the business model is mega-fucked.
2894 days ago
Big Sofa Technologies (BST) IPO'd on AIM today at 17p - the shares are now 21p. It is the latest Adam Reynolds stock and we own "a few" shares. I recorded this podcast to discuss the investment case with Adam.
2938 days ago
The Sunday Times front page splashed with news of a forthcoming AIM IPO in the music streaming world, Electric Jukebox. It is an easy splash in that my pal Nigel Wray, Britain's Buffett, is an investor and the company has celebrity "investors" lead by Cheryl Crow whose face beams out of the paper. Chris Akers vehicle Yolo (YOLO) has today raised £2.5 million and is investing £1.4 million in EJ so maybe that is the IPO the paper refers to. But for me this is a big miss and here's why.
2962 days ago
Have you looked at the chart of AIM dog Mkango Resources (MKA)? It is a corker. It is all down to the looming cash crisis and that is why the shares now trade at 3.5p-4p which is below the IPO fund-raise price from June 15. That tells you how much trouble this piece of Turkish is in.
2968 days ago
Until it was taken private back in 2012 Misys was one of those stocks you did not need to own. Its track record was okay but not brilliant. It had a habit of letting investors down now and again. Its departure was not greeted with wailing and the gnashing of teeth. But now it is planning a comeback in what is flagged up as being one of the largest IPOs for many a year. Caveat emptor.
2988 days ago
In today's podcast, recorded before my father in law hogs the TV room to watch Songs of Praise, I look at what the Krispy Kreme IPO in Londron means, at signs of the mother of all crashes in China and what the CV of destruction from lyin' Chris of African Potash (AFPO) exposed HERE earlier - means. Am I a hypocrite on this matter. Er...no.
3006 days ago
Mkango Resources (MKA) the companyu with worthless (not so) Rare Earth assets in African which no-one else wants and which was trading whilst insolvent at the time of its AIM IPO has released its debut quarterly results on the Casino."When in Rome"...Mkango has marked the occassion with a great big fat lie.
3035 days ago
AIM casino dog with fleas MySQUAR (MYSQ) has today managed a small bailout placing as it teetered on the verge orf bankruptcy just 13 months after its IPO. The roll call name of shame includes pompous PR supremo Piers Pottinger who is a NED, Nomad SP Angel, brokers Mirabaud and Belfort Securities. The shares have plunged to 4p (60% down on the IPO) but are in fact worth 0p. This is a ZERO, an AIM uber-dog. I look at the red flags, talk you through the maths and name the guilty men, the establishment fuckers, the 1% who have made money as poor old private investors took it up the jacksie again. Yes I am angry and use some bad language.
3041 days ago
I start with the bad news for whoever owns Fred Olsen. I think look at Octagonal (OCT), Blur (BLUR), much ramped Keras Resources (KRS), XCite Energy (XEL), Magnolia Petroleum (MAGP), 88 Energy (88E), Highlands Natural Resources (HNR), Sareum (SAR) and then a joke IPO called Widecells (WDC), which listed yesterday and is now the subject of a ramp. Feel the stem cells. No actually don't. Just sell.
3146 days ago
I really hate backing IPOs. Many companies just struggle to adjust to life as a public company, it is like those cricketers who are great at proper cricket but just can't make the adjustment to the pyjama game. Whatever. We have had a small exposure (well not that small actually) today in Bluebird Merchant Ventures (BMV) - Bluebird Mining as was - which is the first mining stock to make it to the London market in eight months.
3159 days ago
Despite the slavish support of the lamentable Midas column in the Mail on Sunday, the IPO of Healthcare Royalty Trust has been pulled. The company first planned to raise £300 million then scaled that back to £150 million but as I flagged HERE the maths did not add up.
3162 days ago
Healthcare Royalty Trust was planning a stockmarket listing to raise £200-300 million promising investors that by buying royalty streams in pharmaceuticals that were already being marketed it could generate annual returns for investors of 10% of which 60% would be paid out as dividends. Really?
3169 days ago
Bluebird Merchant Ventures is set to list on the Standard List of the main market this week. We have a few shares in this company, let us be upfront about that. The CEO of Bluebird is Charles Barclay and I asked him a few questions ahead of the IPO
3201 days ago
Nomad, broker & crony capitalist SP Angel has today stated that it will not be sending us any more research and so we can no longer bring you its daily mining note. Why have we been cut off?
SP Angel's John Meyer said in email: "Compliance had advised that we should not send research to you anymore". Hmmmmm.
By sheer coincidence we yesterday ran an article on how SP Angel had taken fees for trying to float a company on AIM (Mkango Resources) that was insolvent. The IPO appears to have failed (quelle surprise) and yesterday we asked Meyer & SP Angel why there has been no statement.
3201 days ago
David Lenigas tries his best to ramp the crock of shit that is Lenigas Cuba (CUBA) but its shares are now just 0.5p to sell (in small amounts), that is 90% down in just over 3 months. The excuses Jabba The Hutt is offering on twitter are lamentable as you can see below. And there are also the half-truths.
3202 days ago
TSX listed Mkango Resources promised investors - including Chris Oil who put in £100,000 at 2.5 Canadian Cents last Autumn - that its delayed AIM IPO would happen early January. Nomad SP Angel signed off on that statement...I put it to SP Angel today why the silence?
3210 days ago
Hat Tip to reader "Inspector" for this point on the car crash IPO of the year 2015 Lenigas Cuba (CUBA) and its latest (failed) attempt to ramp the share price. On 9th February, Jabba The Hutt published the following update on his company's investment in Petro Australis:
3245 days ago
I could not sleep last night so spent several hours looking at filings by Alibaba (US:BABA), the world's largest IPO. They seem red flag strewn and I would have this one down as a slam dunk sell for 2016. There will be more on this to follow but I am just putting a marker in the sand. Back in the UK I look at Gulf Keystone (GKP), African Potash (AFPO) and LGO Energy (LGO)
3259 days ago
Coinsilium Group (COIN) shares commence trading tomorrow on ISDX as the first Blockchain technology IPO. We own shares. Ahead of the IPO here is a detailed Q&A with the company’s Executive Chairman Cameron Parry, and CEO Eddy Travia.
3262 days ago
What is it with Jabba The Hutt and rule breaking? The poor man seems addicted to it. His latest offence concerns the ISDX Lobster pot car crash of an IPO Lenigas Cuba (CUBA) where he has clearly broken ISDX Rule 32 (disclosure of price senistive information).
It seems as if this overvalued POS is seeking a dual listing in North America. This is price sensitive information. It should have been announced to the market, Instead we learn about it via Jabba-RNS that is to say twitter. Here is an exchange with some moronic shareholder.
3263 days ago
Yesterday Quindell (QPP) fraudster Rob Terry announced that his Knob Park vehicle had spun out a new subsidiary ( which is this still controlled by Mr 2+2 can = 5) , Quob Park Technologies and that "Quob Park Estate (the parent), along with its partners, will be providing advice around the company’s future development strategy, fundraising and corporate financing activities, including any potential IPO". Rob you are avin a bubble.
3264 days ago
I am sitting here with my father in Shipston. We have just had a long argument about the deaths of Cranmer, Latimer & Ridley. Naturally we both insisted we had the facts right. I am now 1p better off as I was right. My father has gone to the White Bear early in protest. Back to the podcast, I start with US base rates and why the UK will follow and what that means (house price crash, bad for certain equities). Then it is the AIM disgrace of the day Concha (CHA), onto Afriag (AFRI), Inspirit (INSP), Ultimate Sports (USG), Fastjet (FJET), and the shocker of a July IPO Adgorithms (ADGO). It is another day of shame for AIM.
3269 days ago
I start with back news, not good but at least I have a handy tip for dodging passport control. Then it is onto the son of the late Brian Schneider of OEM infamy. He wants you and I to pay far more tax from our legitimate earnings though he has lived a privileged life - and still does - thanks to the proceeds of crime. He is a leading Jeremy Corbyn organiser. Right on Comrades. I look at Petropavlovsk (POG) and the idea of buying shares for the bid. I move onto a new biotech IPO, Levrett. I explain why its a bargepole but also how the coverage of this in the Mail on Sunday (Simon Watkins) shows again the corrupt nexus between certain financial journalists and the PR world with an aim to dupe you, the investor. Then it is onto Jabba The Hutt's Afriag (AFRI) where I follow on from today's bombshell HERE and the follow up HERE by explaining the real problem it - and AIM - now faces.
3291 days ago
Floated on the AIM casino 18 months ago at 10p, shares in the insolvent Golden Saint Resources (GSR) are sliding again today and are now just 0.035p to sell (loss since IPO of 99.965%) so how is its crowd funded debt death spiral doing. I am afraid that the news is not good on day 42.
3294 days ago
I am asked to be nice to Globo (GBO) non exec Gavin Burnell. I am afraid that I cannot be because with reward ( and Gavin had made more than £100,000 a year as a Globo NED if one includes share sales) comes risk. For AIM to work he needs now to face risk as I explain. Then it is onto New World Oil & Gas (NEW) and why some folks are setting themselves up to lose money (again). Finally more bad news for market abuser Chris Oil regarding his latest car crash of an IPO, Mkango Resources
Warning: This podcast contains modestly bad language.
3297 days ago
I have already demonstrated that the two “acquisitions” made by Lenigas Cuba (CUBA) post its car crash IPO on the ISDX lobster pot were er…not quite as fantastic as the PR puffery from fat aussie share ramper David Lenigas (pictured left). Now let’s turn our attention to his partnership with Rushmans which was announced pre IPO. Hmmmmm.
3297 days ago
Updated - I have re-read the prospectus - the Travelwelcome stake cost $60,000 - see why that is very embarrassing for David Lenigas indeed. To great fanfare the car crash IPO that is Lenigas Cuba (CUBA) announced back in September that it was getting into travel. But as ever with the great Aussie share ramper David Lenigas this deal is not quite it might appear.
The IPO prospectus states:
3304 days ago
Oh dear, as if life were not bad enough for Big Dave Lenigas after LGO Energy’s appearance on the front page of the Sunday Sun today, now comes news that shareholders in ISDX train wreck IPO Lenigas Cuba (CUBA) want their dosh back.
3309 days ago
Thanks to reader BobbyChariot who has captured proof that David Lenigas is rushing from Cuba following the disastrous Lenigas Cuba (CUBA) IPO to Trinidad to check out the LGO Energy (LGO) train wreck. Its not a good day for either company but Big Dave is on the case , working hard for shareholders. Feel free to supply a suitable caption in the comments section below
3309 days ago
Welcome to the lobster pot that is ISDX. The screen shot below taken at close of play yesterday tells it all abut the car crash that is the Lenigas Cuba (CUBA) IPO.
3310 days ago
Following possibly the least successful IPO of the year which has seen punters minus 80% to sell on day one, I'd like to dedicate this song to market abuser Chris Oil who has some explaining to do to mummy and to fat Aussie share ramper David Lenigas. Appropriately it is by The Primitives, aka those dumb enough to invest in this POS.
3310 days ago
I hope you had your beer and popcorn ready for the IPO of Lenigas Cuba (CUBA) at 5p because the spread on the shares right now is 1p-1.75p and it gets worse. The “size” is 25,000 to 50,000 which means that you can sell in parcels with a maximum value of £500. If you invested £500,000 at 2p like market abuser Chris Oil did back in July its going to take a long time and a lot of phone calls to get, some of, mummy’s money back.
3311 days ago
Back in July as David Lenigas raised £4.2 million at 2p for Lenigas Cuba, mug punters like market abuser Chris Oil were told a Standard Listing within 4-6 weeks would raise £5-10 million at 5p. Oh dear, it seems that 13 weeks later the ISDX IPO tomorrow will have seen just £200,000 raised at 5p. Big Dave has bombed! Now wait for the car crash as the maths are dire.
3312 days ago
Lenigas Cuba lists on ISDX on Monday and this is going to be beer and popcorn time as the flippers head for the exit. And so ahead of this car crash we ask you what will he closing bid price be on Monday. But there is a tie breaker as well.
To win this contest first vote in the poll below. What do you think the closing bid price will be on Monday after the IPO at 5p. The go to the comments section and post your name, what you thought the closing bid would be and finish this sentence:
3312 days ago
Market abuser Chris Oil is a big investor in Lenigas Cuba whose IPO will be a car crash on Monday. Thus he and David Lenigas are best buddies these days. Their twitter exchanges last week are disgusting as they celebrate closing down their critics. Prepare to be made nauseous by these ghastly individuals.
3312 days ago
The Lenigas Cuba IPO is going to be a car crash on Monday. We know that a number of the 2p flippers want out on day one and it will be beer and popcorn time as they struggle to sell on the illiquid ISDX tertiary market. But fat Aussie Share Ramper David "I just love the smell of newly issued confetti in the morning" Lenigas is going down fighting and has upped the twitter abuse after I flagged up this looming disaster HERE. Big Dave tweets:
3312 days ago
Earlier this week PeerTV (PTV) – IPO’d at 45p a share four years ago now 0.02p – accepted that four shareholders had the right to stand for election to its board at an EGM on Monday. Today shareholders were told that they no longer had the right to decide who runs the company they own. AIM has allowed PeerTV to execute shareholder democracy. It has sent a message to all investors – FUCK YOU: the crony capitalists run the show.
3312 days ago
Monday sees the IPO of Lenigas Cuba (CUBA) on the tertiary ISDX platform and there is clear evidence that the flippers are panicking and that this new issue will leave blood on Confetti Street next week.
3315 days ago
PeerTV (PTV) has been a complete disaster story of the AIM Casino. Its first (lack of profits) warning came within weeks of its IPO at 45p per share in December 2010 and in fact related to events prior to the IPO which it had neglected to mention at the time. The shares are now 0.03p. And so it is now time to sack the board at the AGM on Monday. If you own any of the 2.4 billion worthless pieces of confetti in issue here is how to vote and why you should.
3320 days ago
Thanks for all your messages regarding the legal triumph, I comment en passant. Then the podcast turns to the nonsense that flip flop Ben Turney is spouting. I am beginning to think that Old Malcolm Stacey is not the only mad lefty on this website. Then onto Globo (GBO) and more news on "that report" and analysis of the potential for disaster at Cambian (CMBN) even AFTER today's dire warning. There is comment on what is happening at SIG (SHI) and Travis Perkins (TPK) and then onto events at Afriag (AFRI - when's the placing - and growing evidence that the Lenigas Cuba IPO is not exactly flying. Oh... and Northbridge (NBI) when's the profits warning?
3333 days ago
Thanks to Paul Scott for his help on this one. I know that Gary Newman is a fan but I just do not get Fishing Republic (FISH) at all - the red flags are now highlighted. The Crony Capitalist City parasistes trousered fees of £550,000 ( two years after tax profits) from a £1.5 million fund raise at IPO (with directors pocketing £106,000) but I somehow suspect investors will not propser with this AIM casino chip.
3352 days ago
Oh dear. It is another dismal day for those invested in the Filthy Forty China Aim stocks with shares in Vmoto (VMT) suspended on the casino after a most bizarre statement. Let’s look at the timeline of what has – to date – been one of the star performing China AIM plays one of only three showing gains since IPO. Make that two now.
3397 days ago
The fraudster Rob Terry of Quindell (QPP) infamy is a busy guy as he prepares for the inevitable dawn raid by the Serious Fraud Office as a precursor to a trial and a custodial jail sentence. His latest posting on the website of his new vehicle Quob Park is quite simply delusional.
Terry discusses the merits of getting a public listing HERE and argues that it would be better if Quob Park did not list. Hmmm. We can think of another good reason or fifteen why a listing is not going to happen. How about the fact that Quob’s founder (Mr Terry) is the subject of a SFO Criminal Investigation? Or the fact that PWC has come out and said that the accounts he prepared at Quindell (and even its IPO document) were plain fantasy? Or that Mr Terry misled the poor lambs at KPMG in relation to prior audits? The list goes on. And on. And on.
It is just inconceivable that a Rob Terry entity could gain a public markets listing. Even the AIM casino would say no and no Nomad in town would touch Terry with a bargepole.
Then Terry goes onto to argue that Quob’s biggest investment – Daniel Stewart
3412 days ago
And we are off again with the next Big Dave Lenigas fund raise. This time it is Lenigas Cuba where books will close on Friday on a pre IPO funding raising £3 million (or a bit more) at 2p. Heck I know I’m on sabbatical but I thought I’d share this scoop with you.
3416 days ago
Just now and again readers on ShareProphets post utter gems which merit a wider audience. Reader its me is a City insider and knows how the system works or rather does not. Commenting on the latest China fraud revelations (Global Lock) he explains a real failing in the Nomad system. It is a very instructive comment and something the LSE should - but won't - take on board. Over to its me:
3487 days ago
Shares raced ahead almost across the board on Friday. Even dogs like Rosslyn Data (RDT) managed to eek out some gains but its stock still languishes at 14.25p despite a raft of meaningless huff and puff releases and well down on its IPO price of 33p a year ago. And so I have a small question for the heavily loss making firm.
It is not about
3496 days ago
This is a stonker of an AIM casino disaster – a story of greed, stupidity, investors being misled and, as it’s the AIM casino, of private investors taking an almighty rogering. Meet Arria NLG.
Arria NLG (NLG) is a tech company set up by a former bankster Stuart Rogers. Almost entirely without revenues, the company was none the less able to raise c$40 million from institutional investors in the two years leading up to its IPO on December 5 2013. The last of those fundraisings was at £1 a share so when it listed this company had a market cap of £102 million.
No revenues to speak of but amazing technology and a (tiny but let’s not talk about the numbers) contract with Shell and the deadwood press lapped it up. The Financial Times had the IPO as its front page story and the shares
3497 days ago
I am off shortly to the London Stock Exchange AGM and events today show why AIM is such a joke of a casino. I refer to statements by Mosman, the er..lies of New World Oil & Gas and the total farce over Horse Hill. I give you full details of the next Dave Lenigas IPO and where to apply, not that I shall be doing so I stress. I cover the latest disaster to hit my good friend JimMellon, this time it is at Webis. and what the Benchmark and Hardide profits warnings tell us about wider equity valuations.
3500 days ago
Coinsillium is planning an IPO within weeks on AIM and it seems to be attracting some interesting backers as a bitcoin play. It presented at UK Investor Show 2015 and here is the video.
3517 days ago
I have noted before how Rosslyn Data Technologies (RDT) seems to have been economical with les actualities in its IPO document, how it is rapidly running out of cash and how kee it must be to protect the share price ahead of an inevitable bailout fundraise. And that brings it to its huff & puff RNS of 23 February 2015 – “Rosslyn Data Technologies signs major partnership in the US higher education sector”.
Hmmmmm. Rosslyn stated:
3530 days ago
Rosslyn Data Technologies (RDT) floated on the AIM casino on 29th April 2014 having raised £10 million at 33p. Cenkos acted as Nomad and broker and will have earned almost £700,000 from this company. The shares are now trading at just 13.375p –this has been a disastrous IPO for those who backed it and I have today written to the FCA asking it to investigate Cenkos and Rosslyn to see if the prospectus for the IPO was misleading.
3537 days ago
Disgraced Aussie promoter Peter landau has no shame. Investors have lost almost everything on Range Resources (RRL) while Landau has trousered millions via his Okap Ventures Company. Shares in Black Mountain Resources (BMZ) remain suspended. Yet the money grubbing bastard is back for more as he plans, I can exclusively reveal, his next IPO.
3573 days ago
Tipping a recent IPO is always a tad nerve-wracking as some companies just take their eye off the ball as they head to AIM, regarding it as the end of a journey not the start. And so I am rather chuffed with Entu (ENTU) which listed in the autumn at 100p, we tipped at a 107p offer and which is now 120p-124p. Well done to young Steve for it was he who spotted this. Results out this week vindicate the lad.
3590 days ago
Grand Group Investments plans to IPO on AIM tomorrow thanks to fat crony capitalist Ray Zimmerman of ZAI Corporate Finance. The usual advisers to China Norfolks are on board: dirtbag lawyers Pinsent Masons and PR poshboy Henry Harrison Topham, I say old chap didn't your grandfather bugger mine behind the bike sheds at Eton? In this podcast I look at the other Red Flags
To get your free copy of my new book 49 Red Flags sent to you today fill in the form HERE
3590 days ago
In today's podcast I look at Igas (vindicated), Quindell (vindicated), Gowin New (vindicated), Cambria Africa, Flybe, Fitbug, Coms (vindicated) and prepare to have a go again at Ray Zimmerman and ZAI over its next China POS IPO
To get your free copy of my new book 49 Red Flags sent to you today fill in the form HERE
3606 days ago
Investment Case: Provider of energy efficiency products and services to homeowners in the UK, entu (UK) plc (ENTU) listed on AIM at 100p per share on 30th October. However, unlike most IPO’s, the prospective ratings – a price/earnings multiple of 8.4x and forward dividend yield of 8% – suggested this one potentially attractive. This has been reinforced by a trading update earlier this month noting that the company “has seen robust trading in the year across all its divisions” and that it is seeing a positive combination of increasing brand awareness and increasing public awareness of the economic and environmental benefits of energy efficient home improvements. Still though, at a current 107p offer price – only a little above the IPO price – the shares are a buy.
3685 days ago
The IPO of China POS Pressfit (PFIT) and its share price collapse today is yet another disgrace on the AIM Casino brought to you by Nomad Daniel Stewart. In this podcast special Tom Winnifrith examines this IPO, the parties involved and the Conflicts of Interest. Thereis only one conclusion, AIM Regulation must shut down Daniel Stewart at once.
3687 days ago
Mining guru, and chair of Women in Mining, Amanda van Dyke is to float a company of which she is Chairwoman on AIM, I can exclusively reveal.
The company is called Bluebird Mining Resources and I understand that it plans to raise at least £2 million ahead of a December IPO. The company is engaged in iron ore trading
3699 days ago
As ever there was no shortage of readers keen to stick the boot into near bankrupt crony capitalist AIM Casino advisor Daniel Stewart (DAN), the firm run by Peter Shea that made millions floating Quenron (QPP). Earlier this week we revealed the shock picture of its IPO department headed by smooth talking Paul Shackleton and asked you for your captions. And the winner is:
3702 days ago
Shares in Crony capitalist Nomad and broker Daniel Stewart (DAN) remain suspended on the AIM casino as the financially challenged enterprise has still failed to get its accounts signed off and published. While we wait we have managed to obtain an exclusive image of its IPO Department. This is the part of the firm that brought you winners like Quenron (QPP), Naibu (NBU) and China Chaintek (CTEK), made £1 million raising cash for Globo (GBO) but could not quite manage to float China fraud Fraspens in August. So what will be its next offering? I ask you by midnight tonight to post a suitable caption below.
3717 days ago
Shares in Alibaba have raced ahead since its IPO and the Chinese internet giant (which could not get a HK listing away so is US listed is now valued at more than Wal-Mart. Are you temped or compelled to get on board? Personally I think the valuation is insane and am not wild about Chinese stocks in general. But what do you think? The deadline for voting is midnight Sunday and you can vote only once unless you are from Glasgow where it appears multiple voting is par for the course.
3757 days ago
Sorry to be a pedant but I have to ask – who was Quindell’s (QPP) largest trading partner in its IPO year of 2011? Quindell has never made this clear and its use of language on the Gotham denial puzzles me. Perhaps Mr 2+2, Rob Terry, can assist? And while he is about it can he expain why he is so keen on handing over millions of quid belonging to shareholders to buy shelf companies worth £68.40 from his old pal Mark Ford ( spelt with an R) - see HERE.
That 41% of sales came from one customer is not disputed and this massive ramp up in reported sales helped turn the Country Club into what it is today. Gotham City alleged that this customer was a related party SMI Telecom. Quindell’s response was:
3766 days ago
Since the Daily Telegraph lifts our articles without attribution (well that silly cow Harriet Denys anyway) we feel no qualms about this trivial lifting on the subject of IPOs. The Alex cartoon is 100% bang on the money.
3772 days ago
There is a new star on Dragon’s Den, Piers Linney. Yesterday I revealed HERE how his Outsourcery (OUT) firm on AIM is in very real danger of going tits up just 14 months after listing. But Piers is no stranger to business failure. The BBC thinks he is a Dragon with the Midas touch. Au contraire. Today I reveal the full extent of his career of business trainwrecks and the sham projections of the Outsourcery IPO.
Here is what the BBC says about Piers:
4056 days ago
The great Royal Mail (RMG) IPO has been a success. Listed at 330p the shares are now 475p. That rather vindicates my call to stag the issue but now it is time to bank gains and sell the shares. And here’s why.
4069 days ago
We will soon hear the exact pricing of the Royal Mail IPO and I expect it to be towards the upper end of the 260p-330p indicated range as there has been very strong institutional and private investor demand – I guess we are in a bull market. And spreadbetters reckon the stock will go to 340p on days one. So there is a case to stag the issue. But..
If you want to take a quick turn by stagging it go ahead. But you would not wish to buy for the long term. Why?
4175 days ago
And so someone I respect told me yesterday that I was hated in the City. Not by everyone but in certain quarters. Tell me something I didn’t know. Apparently some folks feel that saying nasty things about companies, advisors, PR firms etc. is just despicable. “Other journalists don’t do it…why do you?” And it gets better.
Apparently this person was told by a well-respected City group not to be seen to work with me because I was being sued for libel by Sefton. To give them credit they did ask the City Group if they knew about the case and was told no. There was just the assumption that if listed company issues libel proceedings then the person it is suing must be a baddun.
Where do you start here? Without commenting on the specifics of this case I would point out that I have had legal proceedings threatened and commenced before. The companies who tried it on before have all disappeared or been censured (in the end) because they were liars or crooks or both. Any trade body/City group which in a blinkered fashion believes that companies always tell the truth and so without doing any research automatically sides with the company in such matters is frankly a joke organisation. Perhaps these folks have never heard of Robert Maxwell or Asil Nadir or Bernie Madoff? Some companies are bent…just accept it.
And so why write articles which point out that certain shares are overvalued, that certain companies are – if one analyses their published statements – running out of cash or that certain companies have issued RNS statements that are verifiably false or over optimistic? Let me think for about fifteen seconds:
4177 days ago
Allow me to have a gloat. It is champagne round ar Real Man Pizza tonight as the Cesspit IPO of joke company Bison is pulled. In turn this whacks a string of pointless AIM Cesspit listed investment companies for six. Happy days.
The great overhyped joke IPO of 2013 on the AIM Cesspit, that of shale ( whoarrr feel the sex forget about the numbers) energy play Bison Energy has er…flopped. It has bison the dust. Those who read my analysis of this great enterprise which was set up last year but suddenly was worth almost a billion dollars according to its broker WH Ireland may not have been surprised.
4202 days ago
You have just one day left to make your nominations for the 2013 AIM Cesspit awards, an annual celebration of everything this is worst about London’s junior market. So hurry, hurry, hurry. The point of these awards? Well there are a couple.
The first is that there are numerous awards where the “best” of AIM is celebrated. The market always wants to talk about its triumphs. The reality is that it tries not to discuss its failures and failings openly. It needs to. We all know that there are Nomads out there that will float any POS without, it appears, any regulatory sanction at all.
More importantly we all know that the vast majority of companies on AIM have delivered abject returns for investors. AIM constantly boasts about the amount of money it has raised for member companies. But so much of that money has gone to greedy directors who do not deliver, parasitic advisors or simply to money heaven as it is pissed away on duff projects. AIM needs to be reminded of that. If nothing else this is a chance for investors to vent some of their justifiable anger.
At an awards ceremony in late June, real trophies will be presented to those who have helped make AIM the Cesspit it is.
There are seven awards of which two are objective mathematical awards and the rest awards where the winners will be decided by the investing public. The Cesspit year runs from May 1st 2012 to May 1st 2013.
The awards are:
IPO of the year – an objective award for the IPO which moves most rapidly from IPO to suspended pending clarification.
The Darwin award – an objective award for the company that destroyed most market capitalisation in the 12 months prior to its shares being suspended pending clarification.
Entrepreneur of the year – investors vote on which AIM CEO has destroyed value most spectacularly in the past year.
PLC Pig of the year – investors can vote on which AIM CEO or Chairman was most grotesquely over-remunerated relative to performance. Hmmm…I wonder which Chairman whose first name begins with J I shall be nominating.
Cesspit lie of the year – investors vote on which RNS issued during the year by an AIM listed company was most misleading. Naturally the AIM regulation team appears to think that none have been misleading as there have been no public censures. But I am sure that you have sharper eyes than the regulators.
Cesspit deal of the year – investors vote on which merger or acquisition of the past year did the most to destroy value.
Cesspit entrepreneur of the year, the most coveted award, handed out to the man or woman whose over promotion of a stock, under-delivery and ability to destroy value has done most to contribute to making the Cesspit regarded as it is today.
To make your nominations for the five investor decided categories go HERE
We will close nominations at midnight tonight (Friday) and commence voting the following week ahead of an awards dinner on Monday 24th June to which all winners will be invited to attend or send a representative.
Tom Winnifrith is a journalist who enjoys writing about the Cesspit at the bottom of AIM. You can find more of his work at www.Shareprophets.com
4207 days ago
Fracking is sex on a share certificate. Mention the F word and you can set whatever daft price you want. That seems to be the theory behind Bison Energy Services, a company trying to raise funds for an AIM IPO right now. The promotion for this is a hoot.
4212 days ago
It is time to highlight and celebrate the very worst of AIM with the inauguration of the AIM Cesspit awards sponsored by Shareprophets.com.
At an awards ceremony in late June, real trophies will be presented to those who have helped make AIM the Cesspit it is.
There are seven awards of which two are objective mathematical awards and the rest awards where the winners will be decided by the investing public. The Cesspit year runs from May 1st 2012 to May 1st 2013.
The awards are:
IPO of the year – an objective award for the IPO which moves most rapidly from IPO to suspended pending clarification.
The Darwin award – an objective award for the company that destroyed most market capitalisation in the 12 months prior to its shares being suspended pending clarification.
Entrepreneur of the year – investors vote on which AIM CEO has destroyed value most spectacularly in the past year.
PLC Pig of the year – investors can vote on which AIM CEO or Chairman was most grotesquely over-remunerated relative to performance Cesspit lie of the year – investors vote on which RNS issued during the year by an AIM listed company was most misleading.
Cesspit deal of the year – investors vote on which merger or acquisition of the past year did the most to destroy value Cesspit entrepreneur of the year, the most coveted award, handed out to the man or woman whose over promotion of a stock, under-delivery and ability to destroy value has done most to contribute to making the Cesspit regarded as it is today.
The awards process starts today with nominations.
To make your nominations just
4341 days ago
I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from him from TradingResearch Point…
As it happens I agree with his conclusion.
Kentz Corporation (KENZ) is a global engineering specialist solution services company providing full engineering, procurement and construction services (EPC) to mainly the energy and resources sector. The company’s niche and positioning is as a tier-two contractor and bids for small / medium sized projects where competition is relatively low. Over the years Kentz has become a global player and currently provides solutions with 14,000 employees operating in 29 countries worldwide. The relative strength of the oil price and Kentz’s global capacity in mining means that this company has delivered consistent sales, profits, cashflow and dividend growth since its IPO. A trading statement on November 12 indicated that nothing is changing in this respect. I would argue that a 381p share price (from a year high 490p) fails to discount this. Here is why.
4471 days ago
I have been bearish on Facebook (FB) since its IPO at $38 back in May. Indeed since then my analysis has become steadily more bearish as a result of the Q2 earnings numbers and an admission from Facebook itself about bogus accounts and claims made by customers about bot driven advertising. As a result I recently slashed my target price from $7.30 a share to $5 but there is a possibility that I might increase that estimate of fair value but only if founder Mark Zuckerburg quits as CEO.
4472 days ago
About once every three days, the New York Stock Exchange seems to tweet or issue a release saying how proud it is to have linked up with Manchester United (MANU), the British soccer club which gained a listing three weeks ago, raising $233 million at $14. The company claims in its prospectus lodged with the SEC July 30th to be one of the world’s “leading brands,” but is it a good investment? Without a doubt the answer is No! Perhaps it might help if I explain why, from the perspective of a British soccer fan who happens to be an investment writer as well.
Let us start with ancient history. 1968 to be precise.
4477 days ago
I have explained numerous times since Facebook (US: FB) stock IPO’d at $38 a share in mid May why I think that the shares are on fundamentals worth no more than $7.30. Actually it is pretty hard to put any value on this company as there is just so little visibility of earnings. And for that reason alone I am now slashing my price target from $7.30 to $5. And I think that the shares will head there pretty quickly. This remains a stonking short sell opportunity and here is why.
4484 days ago
You bought Facebook (FB) stock during its May initial public offering at $38? Too bad. It closed at $20.38 Tuesday, its second-lowest close ever and a 46 percent drop in 12 weeks.
But far worse is yet to come. This stock is worth no more than $7.30 a share and the really big sell-off could start as soon as this Thursday.
4486 days ago
I explained on Friday why the Manchester United (MANU:US) IPO was, at $14, a joke. I am asked what I think that the stock is worth? I am not sure that there is any terribly scientific answer to that as there are so many imponderables/unknowns, but since most are on the downside I would happy to start with a prediction that the shares could well halve to a share price of $7.
4497 days ago
Yesterday I wrote about how 80% of the customers one firm had paid (on a per click model) Facebook to send over were in fact bots (computer programmes). While there is sod all chance of most of Facebook’s customers (students, teenagers and piss poor Indians) buying anything online, there is zero chance of a bot buying. One thinks that advertisers will be thinking twice about using the services of Mark Zuckerburg’s great enterprise.
But it gets better. The company now admits that 1 on 10 of its accounts are in fact fake. That is to say duplicates ( where someone is so moronic that they need to “friend” themselves as they cannot find enough other morons online to be friends with?), not real (pets, etc) or spammers. You cannot now make any sensible earnings forecasts, the valuation is still crazy and insiders are about to start dumping hundreds of millions of shares onto a market where only the certifiable will buy. IPO $38. Price now $21. Target by Christmas (probably a lot sooner sub $10). As a non shareholder this is getting quite entertaining.
As one correspondent puts it:
“I’m loving this as my colleague took his first foray into investing on the IPO, buying a massive 3 shares. The only thing more amusing would be if he returned home to find Zuckerberg in bed with his wife.”
Why not? Zuckerburg has already screwed the investors, why not screw their wives as well?
4498 days ago
I wrote about an hour ago on TomWinnifrith.com that Facebook stock would trade at sub $10 on Nasdaq by Thanksgiving and that this was perhaps the number one short among global “blue chips.” Uh oh. It just got better for me, worse for the monster Zuckerburg. Some start up in New York ( Limited Run) says that it is pulling its Facebook ads because it found that 80% of those page impressions it was paying for on a click per basis model were in fact from bots (computer programmes) not people. Facebook says that it is investigating. Right. The bottom line is that those earnings models the porcine Wall Street analysts cooked up to justify the $38 IPO are just horse-shit. This stock is heading south fast.
4498 days ago
I have written here a number of times that the Facebook (FB) stock price will collapse. So far so good. Shares in the Nasdaq darling now trade at $21.71 down from a $38 IPO. But folks, it is about to get much worse. Much much worse. This remains a stonking short ( perhaps the No 1 big cap short on this planet) and if you were stupid enough to buy the shares I would get out now. They will have halved again ( or worse) before Thanksgiving.
Why $7.30? Well read my analysis HERE – even at that level it would still trade on a premium rating. But I was being generous with that valuation since. a) the quarterly earnings numbers the other day highlighted to anyone with half a brain cell that there is no real earnings visibility going out for more than a few months and that some key metrics (revenue per user) are already trending south. And b) those law suits from those folks who bought into the IPO and claim they were misled have not gone away. Another duff quarterly earnings statement and a further share price collapse and things could get nasty in the Courts. What profits Facebook actually makes by persuading advertisers to try to sell to its half-witted user base could be swallowed up many times over by legal costs and damages before this is all concluded.
So why the impending share price collapse?4503 days ago
I wrote here on June 5th that my target stock price for Nasdaq darling (and overhyped IPO of the year) Facebook (FB) was $7.30 a share. Results yesterday saw the share price slide again and they are now $26.84 down from a $38 IPO just a couple of months ago. At the time ex-penny share tipster Luke Heron set a $50 target price. That was a good a sell signal as you would normally get. But on this occasion the fundamentals were an even bigger sell. If anything yesterday’s results make me think my target price may be a tad optimistic. This remains a great one way bet.
The headline loss of $157 million is irrelevant.
4555 days ago
I do not use Facebook. It seems to me like a tool for morons who cannot read a book, engage in sensible conversation or live away from their screen or phone. In other words it has a vast target market in today’s world. Its shares have plunged from $38 at IPO two weeks ago to $26.90 but I fail to see how they are worth more than $7.30. I would not be tempted to bottom fish.
