2120 days ago
At the last AGM of Naibu (NBU) before it was booted off the AIM casino I attended its AGM, held at the offices of its Nomad Daniel Stewart, and accused the company of fraud. Only the NEDs were present - Chinese executive directors failed to show. As I asked about a loan to the CEO’s mum that had not been repaid, the NEDs said they were unaware of this. I pointed out where the loan was referenced in the annual report and the NEDs said they would go away and investigate. They did not. Only when they stopped getting paid did these useless upper class twits start to ask questions. Wind forward to today and it is time to shift the blame.
3056 days ago
Our coverage of the AIM Casino fraud Naibu (NBU) was detailed and we called it out as a fraud openly more than six months before its shares were suspended. Staff at Daniel Stewart (DAN) knew it was a fraud and did nothing. The NEDS were in denial when I ambushed them at the AGM - HERE. The NEDS and Daniel Stewart staff were a bunch of upper class twits who patronised me and failed investors. But now it is mea culpa time. The hooray Henry's who took the Naibu shilling as NEDS have today published a full update on what is going on. It is horriffic reading.
If you are an investor in Jiasen (JSI) don't laugh too much, I reckon that you are next.
I can do no better than reprint the report in full. This is a disgrace and a day of shame for AIM. Over to the upper class twits:
3395 days ago
Quindell (QPP) is spinning for its life. I examine how it spins what is bad news. The only 2 guys it can find as new NEDS are proven failures. The trading statement is dire. Look at the miss on cash generation in Q4. And look at the real net cash position. This is woeful. The statement on revenues and earnings is telegraphing that PWC is going to be red ink City and the fact that there is no PWC until the end of Febuary shows how bad things are.
3947 days ago
No this is not a boring piece about corporate Governance and the number of meetings that an Audit Committee should hold each year. Read on. I am making a valid point about the corruption on AIM. Bear with me.
Generally I do regard the subject of corporate governance like that of the Corporate & Social Responsibility (CSR) of a PLC as an excuse for tedious people in suits to pontificate and then submit a bill to the PLC concerned. It adds no value, it hurts the bottom line and thus it costs shareholders cash. But just occasionally there is a serious issue.
The biggest failing of AIM (and indeed the LSE) in this respect is that Non-executive directors are in so many cases not independent
