2651 days ago
Last night it was announced that Hulsey Smith, the American who exposed the fraud at the heart of Strat Aero (AERO) using Winnileaks last year, dumped the last of his shares that he received for dropping a legal claim. But look at his statement in the TR1 carefully. Before then , the rescue bailout.
2655 days ago
For shareholders in Strat Aero (AERO) who thought it could not get any worse as the company hurtles towards bankruptcy in less than four week's time, we have bad news: it is about to get even worse.
Last year Strat was sued by American Hulsey Smith who demonstrated clearly that the company had lied to investors. Strat said it would fight all the way but then issued 38 million shares and handed over a wodge of cash to settle with Hulsey. Yesterday it emerged that Smith was dumping as fast as he can - so expect his last 18 million shares to be lobbed out within days. But it gets worse.
2655 days ago
Whatever you say about Strat Aero (AERO) as it hurtles towards insolvency in a few weeks time it is al least the source of true comedy with RNS statements which are such complete and utter bullshit that they should win awards. welcome to the latest chapter in the tale of Hulsey Smith, the yank who litigated against Strat, showed that it had committed fraud, and ended up owning 11% of its equity as part of a settlement. Owning 11% of a company you have proved committed fraud is not an ideal place to be.
2682 days ago
As you may remember, by February 14 AIM listed Strat Aero - a company that has committed fraud - will be both out of cash and £300,000 in debt to a loan shark. As it munches its way through a hundred grand a month the outlook looks bleak, in fact it looks terminal. This has 0p written all over it. The man who exposed the frauds we know about is a chap called Hulsey Smith who was given a stack of cash and 12% of the equity to settle a legal case and shut up. And so today we learn that Hulsey has been dumping more shares.
2704 days ago
Hulsey Smith was the chap whose Court filings demonstrated wholesale fraud at Strat Aero (AERO) - filings we published HERE despite Aero's legal attempts to hush them up. So when he settled his claims with a cash and shares payoff - weeks after Strat promised to fight him all the way - you kind of knew he'd dump sooner or later. Why hold shares in a company that commits fraud?
2764 days ago
Someone who invested in its last bailout placing told me that he did so because Strat Aero (AERO)'s lawyers had convinced him that it would wipe the floor with litigant Hulsey Smith who had accused Strat of serial fraud. He reckoned the shares would zoom when Strat won the case. Sucker!!!!!! But he is not alone. Strat told all investors via RNS that Smith had no case at all and that it was to counter sue. So today, as the trial loomed, it has caved completely. Er yes. Another lie from a company that is clearly run by pathological liars;.
2817 days ago
Oh dear. Oh dear. AIM Casino bad boy Strat Aero (AERO) does not like seeing emails which show clear evidence of industrial scale fraud and market abuse appearing in public. That is the emails you can see HERE in the $20 million legal claim filed against by proud Texan Hulsey Smith. And so on Monday it went to court to stop the flow of information and to get existing articles pulled.
2820 days ago
The more one reads of the explosive legal dossier packed with damning emails, filed by Hulsey Smith in the Texas Courts against Strat Aero (AERO), the more one sees the massive implications for the whole of AIM. In yesterday's bearcast I discussed the massive conflict of interests at Strat's broker Beaufort Securities. Now let's take that further...if you are a Beaufort client this should concern you.
2823 days ago
A detailed dossier posted by Hulsey Smith as part of his legal claims against AIM Casino listed Strat Aero (AERO) is in our possession and can be accessed below. It contains numerous internal emails appearing to show clear fraud by Strat as it raised money time and time again on AIM, the payment of a poster to ramp on Bulletin Boards and that the business model was just not viable. It will be humiliating both for Strat and for its broker Beaufort Securities which raised all that cash and which is involved in many of the email exchanges. Shares in Aero, appear to be utterly worthless in light of what appears here and the potential for regulatory fall out and thus must be suspended at once and the FCA must step in.
2926 days ago
Oh dear. Hulsey Smith filed a counter claim against Strat Aero (AERO) and four of its directors and we have obtained a copy. It is damning and until these allegations are refuted the stock is 100% uninvestable. Some of them are so severe that AIM Regulation needs to step in, suspend the shares and order a formal investigation. Did, for instance, the board give the CEO a "bonus" to allow him to make share purchases to "bolster the share price", This document begs for an immediate share suspension.
