Chris Leigh

115 days ago

Versarien: how on earth was BDO not negligent in this £55 million scandal?

Versarien (VRS) continues to try and sell Total Carbide having failed to get an offer for more than a year, its PLC assets and its shares in Spanish joke operation Gnanomat but warns that the proceeds, if any, will not cover creditors in full, i.e. will be less than six million quid. I doubt they will come anywhere close. And that raises massive questions for auditor BDO, indeed for the whole AIM Casino ecosystem as this now a £55 million scandal.
I flagged up each time Versarien (VRS) has served up annual results that BDO had shown insufficient professional scepticism with regard to the carrying value of assets.

156 days ago

Versarien: Just how screwed it is, do the maths!

I am not sure if Doctor Sour Kraut has done the maths for his beloved Versarien (VRS) but I suggest that he does. The company admits that if it does not raise more moolah or make a disposal by August the Fat Lady will be heading down to Cheltenham.

280 days ago

Versarien: – questions for Chris Leigh and Gregg Watts of BDO about Innovate Loan accounting in last year’s accounts, more schoolboy errrs

In yesterday’s announcement Versarien (VRS) indicated that 50% of the interest payments of 7.4% which were due to become payable in February 2025 on the Innovate Loan of £5 million would now become payable commencing August 2026.

355 days ago

Versarien - cash runway longer than I previously as annual report WRONG

Versarien (VRS) gave a presentation for financial masochists and the genetically gullible yesterday. There wasn’t a lot of new financial information because Chris Leigh the CFO stated that the audit for the year to 30 September 2024 was still in progress. The key snippets provided were as follows:

848 days ago

EXPOSE: Has Neill Ricketts left Versarien after all or is CFO Chris Leigh just useless?

I bring you screenshots of the Companies House page of three Versarien (VRS) subsidiaries where Ricketts is still down as a director. There may be more but I make my point with these three. Is this: