3849 days ago
Ashmed Media (ASHD) listed on Plus, ISDX or whatever it is called on March 15th 2013 and at that stage had £456,000 of cash. Its shares were suspended on 30th August because it could not publish its annual results on time and today it appears that it is more or less game over: the money has gone. The grim but almost comical statement reads:
4008 days ago
I have today been passed secret documents sent by both the FSA and regulators at Plus Markets to advisors to disgraced scandal ridden US Oil & Gas. These documents make it clear that almost two years ago the authorities knew what was going on here but investors were not adequately protected.
The letter from Plus was send to US Oil & gas’s solicitors in Dublin and shows that even after a preliminary investigation it was felt that CEO Brian McDonnell was making statements and giving presentations without any wider board sanction which included statements that were simply not verifiable. In light of what we now know the reality is that they could not have been verified.
When US Oil & Gas was booted off Plus these issues should have been brought into the public domain by PLUS and by the FSA which (it is clear from the document I have seen) had also investigated this POS company. But
4011 days ago
I have warned you before that anyone who invests in a resources company established by Dublin serial promoter Liam McGrattan needs their head examining. But for the deluded followers of US Oil & Gas (A McGrattan company run by his junior gopher young Brian McDonnell) it really is now game over. The company stands accused of lying by the State of Nevada. USOPians will remember that US Oil was booted off Plus for market irregularities and now trades on the micky mouse (apologies to Mr Mouse for the comparison) GXG Market. At one stage it was capitalised at £250 million and its followers still reckoned it would treble.
At 77.5p it is now capitalised at £32 million. I would suggest that its real value is pretty much close to zippo.
4253 days ago
A good lunch (salad natch) today with John French. He was chairman of the Plus Markets advisory group for many years and would, I suspect, happily undertake a similar role if the new owners of the junior market (ICAP) wished him to do so. He also chairs one Plus listed stock (Sutherland Health, in which I have a few shares). But what I wonder is the future of Plus?
