482 days ago
From £70 million to nothing, as Deepverge (DVRG) awaits almost certain administration investors in this company will have lost everything. But did someone make a packet? I bring you below three tweets and an article by the Sith Lord Zak Mir of Lift Global Ventures (LFT). The article ( dated 7 February 2023) talks of a “tsunami of cash” being on its way to Deepverge. Hmmm.
503 days ago
To be fair, Cineworld (CINE) has explicitly warned the fools who still own its shares that as part of the Chapter 11 process they are going to lose everything. None the less, flagging up to staff as we revealed HERE, some two weeks before you tell investors that the PLC is going into administration seems a bit naughty to me. But today came the formal fess.
508 days ago
On the Cineworld (CINE) shareholders Telegram home for deluded fools the following email purporting to be from Cineworld boss Mooky Greidinger to some of his staff has appeared suggesting it is going into administration. Natch, Mooky has not bothered to tell shareholders the bad news via RNS as he views them with contempt. The shares are 0.7p ( a £10 million market cap), down from 200p+ when I first warned you all. The target of 0p should be reached within hours. The email reads:
510 days ago
Cineworld (CINE) has already warned numerous times that shareholders are going to get wiped out. Last night Sky reported HERE that the UK PLC would be put into administration this week. Natch, Cineworld which has always treated its shareholders with contempt has not issued an RNS.
584 days ago
On 20th January 2023 serial dog Mirriad (MIRI) put itself up for sale. Guess what? Absolutely nobody is interested. Well knock me down with a feather. Anyone wanting to buy the technology that has spunked so much cash over the years only need wait for administration.
585 days ago
It has not been a good week for all things Ince. First up, Mr Paul Ince, once the Guv’nor, was fired as manager of Reading. Like all West Ham supporters, a P45 for Judas, is, for me, a good start to the week. Better still, yesterday afternoon, Ince Group (INCE) announced it was going into administration.
605 days ago
Scotgold (SGZ) claims that its directors emails have been hacked and that “specious emails sent in their names to numerous people.” The clear implication is that the email I published on Saturday, HERE, discussing administration and a cash crisis is bogus. It is not it is genuine. The “specious” emails referred to were, according to my source, sent to employees, not insolvency lawyers at Fox Williams. Even its death throes it seems ScotGold dissembles and, in mentioning the Police paints itself as the victim. It is not the victim shareholders are. The company is in its death throes because it has fessed to as much today causing the shares to, as I oft predicted they would, crash. Told y’all! What follows is grim.
606 days ago
The email below, apparently from a senior staffer at Scotgold (SGZ) to lawyers at Fox Williams, presumably Richie Clark and Paul Taylor (Partners) or Paul Osborne (Senior Partner), appears to show that the company, which only raised £3 million just the other day, is in a right old financial mess and is preparing for administration. Either its real or its fake, but its “doing the rounds” so one way or another ScotGold, a perma dog IMHO, needs to issue an RNS first thing Monday AM.
652 days ago
In today’s main bearcast I look at Love Hemp (LIFE) or should that be (DEATH)? then at Microsaic (MSYS), Advanced Oncotherapy (AVO), Guild ESports (GILD, Argo Blockchain (ARB) and finally Afentra (AET) after today’s dynamite dossier HERE
824 days ago
Well you cannot say that this was not predicted here! Cineworld (CINE) has issued a lack of profits warning and says that when its balance sheet is deleveraged ( when? If?) shareholders will be screwed. The alternative, of course, is administration and a total wipeout!
877 days ago
At 6.22 PM yesterday evening, 4D Pharma announced the reason for its “temporary” share suspension. It wasn’t a messy and discounted placing, as I suggested here, but administration. Shareholders will, I fear, lose everything. I discuss who is to blame, what can be done (nothing) and the read-across to a raft of other stocks that could go the same way, including Shield Therapeutics (STX), Cineworld (CINE), Petropavlovsk (POG), Verditek (VDTK) and more.
1094 days ago
Iconic (ICON) shares have been suspended since 7 June 2021 due to the appointment of joint administrators by Toxic Dave Sefton on 4 June 2021 via his company Arch Capital Partners LLP which purchased debts and claims from Shard Capital.
1320 days ago
Thanks to Winnileaks I have a dynamite letter from the FCA to one of Julie Meyer’s 32 unpaid, and thus ex, lawyers confirming what is an ongoing criminal investigation. But first, how did she get her MBE? Answer: she had political friends including the late Paddy Pantsdown and Liam Fox MP. Someone high up nominated her. Then, as her UK flagship Ariadne Capital collapsed into administration, she fled to Malta where she also had political pals. That was until the criminal charges were filed and she ran out of other folks’ cash. Then it was Switzerland and Greece where again leading politicians have fallen for her charms. But do they know about the UK criminal investigation?
1387 days ago
It is only a matter of time before Iconic (ICON) is put into administration and I shall then be one upstanding citizen who contacts the administrator about the conduct of the Good Germans, the three directors who quit on Monday, as well as former chairman and then shadow director toxic Dave Sefton whose private companies have grown rapidly using Iconic’s cash. But I shall not be alone. Death spiral provider EHGOF claims it is owed cash by Iconic and has launched the most explicit broadside at toxic Dave and the Good Germans (John Quinlan, Liam Harrington and Sam Asante) with specific, shocking allegations, and making clear threats.
1455 days ago
It appears that Arcadia, owner of TopShop, Burtons and Dorothy Perkins is unable to tap an additional £30 million banking lifeline and so is likely to go into administration next week putting 13,000 jobs at risk. The odds are that most stores will be bought from the administrators so the actual jobs cull, though painful, will not be as painful as some fear. Already the blame game has started but who is really to blame?
1564 days ago
Broker JubCap, whose financial woes we exposed here, is now in administration. It is an ex broker and not one that the world will miss. So who is next? Well, all the signs are that Novum, the bucket shop which employs king spiv Jon Bellis and has Gavin Burnell of Globo infamy working there even though he is not authorised to do so by the FCA, is in the merde. I suggested 66 days ago that its financials were so bad that the FCA needed to have a look and, for once, it seems the chocolate teapots have done more than that, acting on what I exposed. I count this as a win for the Sheriff so it’s ouzos all round at the Greek Hovel today. But how is Novum in such a mess?
1865 days ago
This is insanity writ large. Richard Poulden of PCG Entertainment (PCGE) will always be my friend but I simply cannot defend a statement today which is, at almost every, level bonkers.
2101 days ago
Wellesley Finance is another minibond lender provider and also a peer to peer lender. It shares
some features in common with London and Capital Finance Plc (in administration) and Blackmore
Bonds Plc ( as we showed HERE technically insolvent). It offers attractive headline rates of return better than the banks albeit lower than London and Capital and Blackmore. The directors report for Wellesley Group for
2017 shows that it had borrowed at an average rate of 4.17% in the year. The latest interest rate
offer is up to 7% per annum
2111 days ago
More than a week after we exposed the coming death of Daniel Stewart & Company the weekend press has finally woken up and is reporting how it went into administration on Thursday. But something bigger happened on Thursday. Daniel Stewart, c/o former boss Adam Wilson is coming back to the market via a standard listing. Let me explain with the documents below.
2297 days ago
With former flagship Ariadne Capital Limited in administration and Julie "Lingerie on expenses" Meyer facing serious questions about that, Vince Cable's fave entrepreneur has to find a new flagship to stand behind her joke annual conference, this year to be held, to the dismay of local regulators, in Croatia. It would have been Ariadne Capital Group Limited of Malta but what with it facing regulatory probes, having no cash and with the criminal charges against Meyer in Malta that is perhaps not suitable. So Meyer has suggested her new flagship is Viva Capital LLP, formerly the company that booked her speaking fees. Problemo!
2353 days ago
Taggstar is a company that, the joke ACE Fund run by Julie “lingere on expenses” Meyer MBE invested in and which – according to her lie packed fraudulent “private & confidential” begging email of 29 April 2018 (see HERE) was one of ACE’s hottest prospects, a "winner". Of course you and I know that it went into administration in July 2016. But it gets worse, because until her contract was “terminated” on 28 March 2016 Ms lingerie on expenses was the sole director of Taggstar.
Meyer’s successor George Robinson had to restate accounts signed off by Julie for the year to September 30 2015, and within months had to wind up the company. He stated to the administrator that there had been fraud on the Meyer watch and specifically that Taggstar company funds were “misappropriated and used to fund Ariadne Capital Limited”.
2355 days ago
Hoisted by her own petard. This is boastful Julie Meyer at her very best. No doubt Martha Lane Fox, Paddy Pantsdown and Vince Cable will be delighted to see evidence of how Julie "lingerie on expenses" Meyer charmed them. But what is the killer admission here is the scale of the plunder of the ACE Fund ( other people's money) by Meyer's Ariadne Capital Limited ( now in administration).
2365 days ago
The latest Winnileaks bombshell for Julie "lingerie on expenses" Meyer MBE is a spreadsheet of her ACE fund as at 29 February 2016. In part 1 I have shown how this demonstrates how she fleeced the fund ( other people's money) to pay the bills at her flagship Ariadne Capital Limited ( now in administration). Now I draw your attention to evidence that she is a deluded fantasist or worse. Turn to the final column below.
2365 days ago
Another day and another bombshell document lands with Winnileaks concerning Julie "lingerie on expenses" Meyer MBE. This is such dynamite that I shall have to examine it in parts but let's start with our old friend Entrepreneur Country Global, ECG, a company established in 2013 and at that point wholly owned by Ariadne Capital Limited (now in administration).
2378 days ago
Another day, and another set of expenses claimed by Julie Meyer MBE as being "on company business" from Ariadne Capital Limited, now in administration. Staff who were paid late or not at all, investors who have lost everything and the HMRC who will surely see these as more benefits in kind on which Julie should have paid tax, will be horrified. Natch this document has gone to the HMRC. This is October 2014 and is a retail special. Although the Co-op entry, 11 October, is a total hoot.
2430 days ago
Some bears are on the pitch, they think it's all over, it is now - I refer to Conviviality and that is what I expect to be chanting within 24 hours. The game is almost up. At 5.42 PM prompted by reports that it was already in administration from, inter alia, Sky and the Daily Star, Conviviality updated us all on progress. Okay it is not in administration yet ...but it may well be there by tomorrow.
2456 days ago
Its troubles started with a rogue salesman last year. Beaufort fessed up and compensated clients but the FCA insisted on a total overhaul of its compliance systems and clients found themselves unable to withdraw cash for a while. Broking is a tough business anyway with the staff demanding the fat via bonuses in good years and the shareholders picking up the tab in bad years. And so that run in with the FCA was the straw that broke this camel's back. The FCA said it feared Beaufort was insolvent and so...
2469 days ago
On Friday I asked you which of the four American pictured below was the odd one out and why. The Yanks were: Tricky Dicky Nixon, Crooked Hillary Clinton, Lyin' Ted Cruz and Julie "Praise The Lord" Meyer MBE on whom there will be more next week following weekend conversations with folks in Malta. As you can see HERE there were many good answers but the winner is...
2470 days ago
The spectacular own goal scored by Julie Meyer and Ariadne Capital Group Limited (in Malta) not to be confused with Ariadne Capital Limited (in administration) continues. Now we turn to the fake news which is Julie Meyer's assertion in part 10 below...
2478 days ago
In the UK Julie Meyer's flagship vehicle Ariadne Capital Limited went into administration before Christmas owing millions and demonstrating that its 2016 accounts were pure fiction. I can today reveal that yet, another of Praise The lord's dwindling band of UK companies, Ariadne Capital Partners Holdings Ltd has now suffered a First Gazette notice for strike off but it is in Malta where the shit is really hitting the fan for La Meyer's five companies.
As we exposed here, Police investigations into unpaid bills are now underway according to a minister of the Maltese Government. The financial regulator, the MSFA, is being pushed on why Ariadne retains its fund management license after THIS expose. And meanwhile there are a host of suppliers and former employees attempting to get payment for unpaid debts.
2479 days ago
Since she is doing God's will it is no surprise that Julie Meyer MBE is an individual authorised by the FCA to conduct investment business. But for how long? I have passed on all of my articles on Ms Meyer, covering the shocking administration of Ariadne Capital Ltd, ludicrous related party deals benefiting Ms Meyer by screwing her fund, dodgy accounting, unpaid bills, lying to potential investors about "cash in the bank" etc etc etc.
2481 days ago
If devout Christian Julie Meyer MBE does not like FACT based articles about her and Ariadne Capital Limited ( now in administration) by City AM, The Evening Standard, The Times, ShareProphets ( an avalanche) and ex employees turned whistleblower such as John Galt posting on LinkedIn she could always send yet another fascist lawyers letter to them. But since all that has been written has been based on fact....
2483 days ago
John Galt is, as you know, an Ayn Rand character. It is also the "nom de plume" of a former senior staffer at Ariadne Capital Limited (now in a shocking administration after £10.5 million disappeared in 10 months as we revealed HERE) who has said that he will expose Ms Meyer. His opening salvo has appeared on LinkedIn today.
2510 days ago
According to companies House ex Dragon's Den Julie "doing God's will" Meyer MBE is or has been a director of 13 companies. Flagship Ariadne Capital Limited is now in administration, while EntrepreneurCountry Global has some "interesting" accounts and you would not bet the ranch on it surviving long as explained HERE.
2628 days ago
It seems that PR firm Bell Pottinger will go into administration today and 270 folks will lose their jobs. Fear not most have already had other offers or decided to set up on their own. They saw the ship was sinking and there is no rat like a morally bankrupt PR rat in such a situation.
2648 days ago
Shares in ENTU (ENTU) were off by 13% today so forcing a statement clarifying just how fucked the company is. Either the company gets a refinancing which will see shareholders almost entirely wiped out or the PLC will go into administration which means a 100% wipeout. The shares are now 36% off at 2.25p but that is still more than double where they were on August 2nd when Entu made almost the same admission.
2680 days ago
Oh dear, Oh dear. As predicted here many times it has not ended well at House of Britannia, the company established by serial shyster Simon Petherick. An administrator was appointed on 29 June. Now for the roll call of fame.
2891 days ago
As Worthington (WRN) heads into administration, Craig Whyte's long term business partner Aidan Earley is trying to blame the media and especially me. He also says that there are questions over an insurance claim and my involvement in a £40 million City fire which is odd as the start of the fire was caught on CCTV and so there are no questions at all. So in honour of the libeller of the week...
2959 days ago
Slung off AIM yesterday, Gable's (GAH) main subsidiary is now in administration and the PLC will surely follow, as I explained HERE. No doubt Marcus Stuttard and the oxymoronic clowns round at AIM Regulation will no doubt just dismiss this as "one of those things" that happen now and again on "the world's most successful growth market". The CEO has made £15 million in the AIM years but investors have lost everything. There must be an major and formal enquiry and here is why.
2959 days ago
Gable and its loathsome scumbag gives capitalism a bad name CEO WIlliam Dewsall have yet to inform shareholders of the latest bad news but bad news there is aplenty. According to the publication Insurance Age, Gable Insurance AG was placed into administration by the Lichtenstein Regulator
2988 days ago
It was rather inevitable but I bring you below the Companies House Notification which confirms the good news, the worst company on AIM, Motive Television (MTV) is now officially a dead parrot. Naturally what actually happened is nothing like what Motive told its moronic shareholders.
3054 days ago
On Friday July 1 NunaMinerals was put into administration. I therefore suggested a day or two later, that the RTO whereby Nuna took over Main Market fraud Worthington (WRN) was off and that on Monday 4 July the UKLA would have to take action. Amazingly the chocolate teapots have done nothing. Truly these folk make the oxymorons at AIM Regulation look like a collection of Nobel prize winners. But it gets worse.
3078 days ago
Dragon's Den flop and serial business failure Piers Linney said that the proudest moment of his business career was listing Outsourcery (OUT) on AIM in 2013 at 110p. Oh dear, the piece of Turkish has today gone into administration. How will the PC tossers at the BBC spin this debacle for their pin up boy Piers? That is their problem, mine is how much ouzo to drink to celebrate this announcement:
3107 days ago
And so today, Circle Oil (COP) has admitted what anyone with half a brain cell could have figured, that it is officially toast. The question is which of the drowning in debt oil mid caps or large E&Ps will be next to fess up? There is an RNS from Gulf Keystone (GKP) today saying its bondhoders have given it another 11 days but could it be overtaken by XCite (XEL), whose shares are sliding as the clock ticks? Other oilcos in breach of loans include Trinity Exploration (TRIN) and LGO Energy (LGO) while the yield on IGAS debt suggests it is in the merde. So who will be next to admit it's toast, to use either the word "administration" or the phrase "little or no value for shareholders". Voting deadline is midnight tonight.
3192 days ago
There were a bevy of cracking entries in the Motive TV (MTV) in Administration Caption Contest from yesterday and you can see them all HERE. But unlike investing on AIM where everyone's a loser in our contest there is an actual winner. In fact two joint winners. We asked for your captions for the photo below. And the winners are:
3194 days ago
No golden ticket for the Bulletin Board Morons, Motive TV (MTV) announced yesterday that it was going into administration - we gave our take HERE. In honor of this event please supply your captions for the picture below by midnight tonight in the comments section below.
3213 days ago
Oh dear. African Eagle has been put into administration in a move akin to pulling the plug on a life support machine for a car crash victim who has been in a coma for three years. Shite AIM investment company Blemheim Natural Resources (BNR) owned 11.4% of Eagle and is in denial.
3265 days ago
Well there is a shock. The LGO Energy (LGO) 2014 annual report was simply wrong in stating that David Lenigas had sold enough shares to go below 3% - naughty, naughty Neil Ritson, but I guess that is the least of your sins. For today Jabba The Hutt announced that he owned 154 million shares.
3401 days ago
Oh well you cannot say that you were not warned often enough on these pages. To the Bulletin Board Morons who abused us and said we did not know what we were talking about as we warned of impending doom, we say “enjoy poverty peasants” because it really is all over for Afren (AFR). And that is official, although no doubt on the LSE Asylum someone will spin news of administration as a buying signal for the shares.
3589 days ago
Quindell (QPP) has always been a slow payer of its bills. But we already know that it survives only thanks to bank overdraft. In today's BearCast HERE, I reveal how it has raised emergency cash to keep going with hidden asset sales. The other way of postponing administration is just to delay paying suppliers. The graphic below says it all. It is paying later and later.
3611 days ago
Why do share lock-ins matter? Let me explain and I do so with reference to Quindell (QPP) as this will be something that the Serious Fraud Office needs to examine either before or after Quenron goes into administration. I also have a few words for the motherfuckers at Schillings.
3638 days ago
Today's revelations on Quindell (QPP) are shocking. How do the Morons feel now knowing about the wage deferral, that they were mislead about the cash position on October 13 (market abuse) so they bought shares and Rob Terry, Laurence Moorse and Steve Scott were able to sell. How do they feel about that? You guys were suckered. Now you need to stop getting angry with me and start directing your anger towards a board that has stolen your cash.
But it is worse. The Company now knows that market forecasts re cash generation in H2, re the cash position and re profits are all hopelessly wrong. It has allowed meaningless staff memos to be leaked to reassure you but in fact its senior staff already know the grim truth. It is again a breach of all sorts of rules not to have told investors. But sadly you folks were kept in ignorance and have averaged down. You now need to show anger against Quindell for that. And against Cenkos for not keeping its cienmt in line. Cenkos has made £12 million from Quindell in the past 12 months and has real questions to answer.
On Monday these shares should be suspended and Quindell needs to admit the grim truth. The suspension should only be lifted if Quindell avoids administration which is unlikely and when it can fathom out the depth of its problems.
Following that perhaps I might get an apology from those I have tried to warn since April 2013 but in earnest since March this year. "Dear Tom, we are sorry for the death threats, the abuse, the lies we spread about you and Real Man, we are booking a table next week and will leave an enormous tip as a way of sayng sorry, yours A Moron"
4002 days ago
I explain why I am still sporting a Movember tash. Fear not it will come off this weekend.
There is a brief comment on the death of Nelson Mandela but that is covered in more detail in an article here
I look at how the global warming nutters have commented in such an asinine way on the storms.
And then I talk for the first time about my departure from Rivington Street just under two years ago. That was a company I founded 13 years ago which is now going into administration, 19 months after I left it and 28 months after I stopped being its CEO.
4003 days ago
The Shareprophets team writes: A number of writers on Shareprophets used to work for and/or own shares in Rivington Street the Plus listed company now going through administration after almost three years of being chaired by offshore Isle of Man investor Jim Mellon. But this process is throwing up a number of questions.
The administrator Resolve has worked with Mellon, who is still refusing to go to South Korea to answer allegations of insider dealing, before on transactions which allowed him to buy assets from companies that had encountered financial issues under his chairmanship, notably Speymill.
Since the middle of this year Mellon has bought four companies out of Rivington.
