2024 days ago
In today's podcast I start with a brief but of macro babble then look at RM2 (RM2) specifiocally but also at the wider Neil Woodford stable* of dogs. Then I discuss whether I'd buy into Patisserie Holdings (CAKE) at 50p. It is certainly not the same as Conviviality (CVR) which Thirsty Paul Scott bet heavily on the day before it went bust. There are similarities but 1 big difference.
2185 days ago
If you are having problems shorting the big 1 billion mega scam exposed last night HERE, bearcast has the answer. In other news I discuss Anglo African Agriculture (AAAP), Symphony Environmental (SYM), Weatherley (WTI), Mothercare (MTC), Amur (AMC), Conviviality (CVR) and Ncondezi (NCCL).
2210 days ago
My new best friend Roger Lawson of ShareSoc has written about the firesale of Conviviality (CVR) assets. He is right but also wrong. What has happened tells us as much about the illusion of asset backing as it does about the way administration works.
2212 days ago
I bring you below a Heads of Terms agreement offered by Conviviality's (CVR) unit Matthew Clark to a potentially largish restaurant chain. Quite simply it is offering an upfront bung of 5% of the expected two year sales as an upfront payment.
2215 days ago
As old Jim Mellon is such a good friend I thought I'd have a butchers. Is it because of more problems at the Diabetic Boot Company or is it a cash crisis at SalvarX (SALV) or at Regent Pacific? What is it about this related party nest of snakes that is making investors shun shares in Jim's Port Erin (PEBI)? I discuss in detail. I also look at MySquar (MYSQ) as the fraud skids to a new low, Ecsc (ECSC), the cyber junk play, FastJet (FJET) - another bailout placing ahoy - and old Clem's spoof Online BlockChain (OBC) as it tanks again. And then its RIP Conviviality (CVR), formal notice of wipeout for those who punt on the back of a brokers note and for other investors. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH.
2216 days ago
On 14 March following pressure on this website Conviviality (CVR) announced it was scrapping its £8.2 million interim dividend due two days later as it struggled for cash. 15 days later the company had failed to raise £125 million and headed towards administration with shareholders set to lose everything. But I have been passed bank accounts which, as you can see below, demonstrate that some shareholders were in fact paid a dividend.
2222 days ago
Bad language alert. No I am not referring to Mrs Stacey. I would not dare but to Feedback (FDBK) which has done a placing today but another one is needed soon. I look at Mosman (MSMN) which has had terrible results and imagine the conversations round at SP Angel as poor Zac Phillips is forced to pen another buy note on this POS. I look at results from UK Oil & Gas (UKOG), the RedX (REDX) disaster, RM2 (RM2) and Conviviality (CVR). I really enjoyed today's podcast and - conceitedly - think it is rather a good one. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH
2223 days ago
Some bears are on the pitch, they think it's all over, it is now - I refer to Conviviality and that is what I expect to be chanting within 24 hours. The game is almost up. At 5.42 PM prompted by reports that it was already in administration from, inter alia, Sky and the Daily Star, Conviviality updated us all on progress. Okay it is not in administration yet ...but it may well be there by tomorrow.
2224 days ago
What is it with small and mid caps on the London market and their inability to budget for tax bills? I start to wondser how many FD's out there received their training in such matters from the late Sir Ken Dodd or from Lester Piggott. Following on from the debacle at Conviviality (CVR) next up is Nature Group (NGR).
2232 days ago
Okay the most frequent poster in our comments section is a nutso commie but hat tip to Wildes for a phrase he taught me today. In the bearcast I discuss how to make real bread ( my next career?), Accrol (ACRL), Micro Focus (MCRO), Inspirit (INSP), Conviviality (CVR), Mothercare (MTC), Online Blockchain (OBC) and have a prize contest on TechFinancials (TECH) - can anyone explain this bollocks to me. The prize will be awarded at UK Investor on April 21 where the highlight of the day will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH
2232 days ago
Having filled his boots with shares in Conviviality (CVR) the day before they were suspended pending clarification, the UK's top share blogger now reports that a rescue bailout could be at as little as 30p.
2233 days ago
I am an unapologetic advocate of capitalism but as I review events at Conviviality (CVR) and Deutsche Bank it is not only shareholders in those companies that have a problem we all do. Something has gone very wrong in many places and all of we heroic wealth creators will feel the backlash.
2235 days ago
After recent events if Conviviality (CVR) boss Diana Hunter told me that 2 + 2 =4 I would ask her to provide credible third party verification before accepting her at her word. So today, with the shares suspended pending clarification following the "discovery" that £30 million of tax was due by month end, MS Hunter has updated poor investors and it seems everyone loves the company. What bollocks. Here are Ms Hunter's words with a ShareProphets translation service in bold.
2235 days ago
The short list is Conviviality (SVR), Clear Leisure (CLP) and Graphene Nanochem (GRPH). I discuss all three but also UK Oil & Gas (UKOG) where the deafening silence is a very bad sign. I consider Sir Patrick's Day tomorrow and how Joshua and I will celebrate and I look at Mothercare (MTC), retail gloom, Mitie (MTO) and the double standards of the great and the good. Make sure you get your free ticket to UK Investor on April 21 using the promotional code WINNIFRITH when booking an investor class seat HERE - if only to hear a live 40 minute bearcast with myself & Paul Scott being recorded!
2236 days ago
Today's related party deal is the final straw and I have to use a C word when it comes to Gary Ashworth & Interquest (ITQ). I also look at Forbidden Technologies (FBT) which - whatever the directors say - needs a placing. I discuss PZ Cussons (PZC), Vernalis (VER) and Paul Scott's woes at Conviviality (CVR) - Scotty that is the danger of reading broker notes you should speak to the company instead. Nudge Nudge, know what I mean. Wink, wink.Make sure you get your free ticket to UK Investor on April 21 using the promotional code WINNIFRITH when booking an investor class seat HERE - if only to hear a live 40 minute bearcast with myself & Paul Scott being recorded!
2237 days ago
Steve Moore has already covered the disaster story that is Conviviality (CVR) HERE. In essence it forgot that it has a tax bill (I assume PAYE) due on 29 March for £30 million and does not have the borrowing headroom to pay that. Uh Oh. As the BBC says about once a day we would not get amateurish corporate disasters like this if more companies were run by women. Like er....Diana Hunter the CEO of Conviviality. Anyhow...
