There are no guests in this week’s show which is sponsored by Open Orphan PLC (ORPH). It is just me once again sitting in the Welsh Hovel as the flood waters rise. I start with a red flags special on Iconic Labs (ICON). The company is an irrelevant and wofrthless POS but the red flags are interesting. Then it is onto a company where I demonstyrated compelling red flags six years ago but I’ve had to be patient. Finally, using Fulham, Shore (FUL) as a case study I look in real detail at why claims that company’s generate positive operating cashflow can be so misleading and why this is so important.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.