3972 days ago
Allow me to have a gloat. It is champagne round ar Real Man Pizza tonight as the Cesspit IPO of joke company Bison is pulled. In turn this whacks a string of pointless AIM Cesspit listed investment companies for six. Happy days.
The great overhyped joke IPO of 2013 on the AIM Cesspit, that of shale ( whoarrr feel the sex forget about the numbers) energy play Bison Energy has er…flopped. It has bison the dust. Those who read my analysis of this great enterprise which was set up last year but suddenly was worth almost a billion dollars according to its broker WH Ireland may not have been surprised.
3992 days ago
Once upon a time there was a company called Managed Support Services PLC which was listed on the AIM Cesspit. It went tits up. Well almost. Its operations were sold but the shell remained intact with a few liabilities and a tiny but of cash. It became Kennedy Ventures (KENV), an investing company, and it shows the idiocy and unsustainability of this whole AIM game.
Kennedy published its report for the six months to December 31st on March 27 2013. It showed cash of £134,000 and trade payables of £85,000. There were a few prepayments but essentially net cash was £49,000. With directors hauling out £4,000 a month in fees and other PLC costs to consider on top and only one investment (an illiquid unquoted one) you might think that there was a bit of a going concern issue.
Could the auditors state that this company had enough cash to keep going for 12 months? Fear not.
