1620 days ago
Shares in PureCircle (PURE) remain suspended as it struggles to publish its June 30 2019 accounts. But we are already warned that there will be restatements of 2018 and possibly 2017. But these restatements, which relate to the carrying value of inventory, were repeatedly predicted by ourselves for many years as you can see HERE. My good friends and keen admirers of my work, The Financial Reporting Council must launch an urgent and full investigation. I have written to the FRC today as you can see below.
1620 days ago
There are no guests in this week’s show which is sponsored by Open Orphan PLC (ORPH). It is just me and I start with the tale of Lyin’ Chris Cleverley, the lying fraudster cousin of Tory Party chairman James. Lyin’ Chris runs listed companies and there is no doubt he is a liar and a fraudster so why has the FCA not acted? Then it is onto PureCircle (PURE) a billion dollar fraud, where after six years, myself and Lucian Miers are utterly vindicated. I invite you to read its 2018 annual report and despair at the woke world of best practice in corporate governance. 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.
1623 days ago
In today’s podcast I look at PureCircle (PURE), the roll call of shame and who should be publicly executed. I also look at Dev Clever (DEV), Tissue Regenix (TRX) and, once again, at Blackmore Bond a mini bond car crash which appears imminent and is another part of what will be one of the biggest financial scandals for years.
1623 days ago
We have been warning that Purecircle (PURE), a company once valued at a billion dollars was a disaster waiting to happen for more than six years. The shares were already suspended over the inventory fraud, now other “matters of concern” have emerged and the CEO is stepping aside pro tem. This company is almost certainly toast. City adbisors named below should hang their heads in shame and return fees, directors should go to jail.
1641 days ago
You think that Justin the Clown at Pox Markets and Proactive are there to help you? Think again. He who pays the piper…I reference Bidstack (BIDS) and Big Dish (DISH) in this part of the show. I discuss Dev Clever’s (DEV) “news” today with reference to Cheryl Cole, look at the accounting mess at PureCircle (PURE) and have a few thoughts on the trading statement from Sosandar (SOS) where I am really not tempted to leap back in again.
1678 days ago
Jim Mellon says he loves listrening to my podcasts and has sent over a very interesting article following the pulled We Work IPO which I discuss at length. The into PureCircle (PURE) which Lucian has called brilliantly, notably here. Yesterday’s shock warning tells us so much about the disgraceful apathy of folks like Numis and PWC when evidence of aggressive accounting was there for all to see over many years. I discuss another company shown to be swmming with no trunks. It will not be the last.
1804 days ago
I explain the nature of the fraud and why I am so livid. My anger is compounded by Wrexham Council and its inability to sign roadworks which wasted half an hour of my life. Then I find I agree with David Lenigas on something: can life get any worse? I discuss Argo BlockChain (ARB), PureCircle (PURE), Cabot Energy (VAB), Watchstone (WTG) and Toople (TOOP). Maybe I have a second question for Neil Woodford, will anyone pay £250 for me to ask it? If you are yet to donate to Rogue Bloggers for Woodlarks we are now at £27,000 raised so please chip in HERE.
2693 days ago
It may surprise you but I have not had an alcoholic drink all week. I have just been too tired to hit the ouzo which will please my GP greatly. It is skimmed milk for me. But last night as I wandered to the kiosk to buy that milk I noticed something else in the fridge: Green Cola. It turns out this is like Cola light but uses Stevia as its sugar substitute. I do not know if this is Purecircle's (PURE) stevia as there are many folks in this game but I thought it was worth a taste test anyway.
2882 days ago
I start by analysing a very odd paragraph concerning Aureus Mining (AUE) in the Times Market Report. Then it is onto Boxhill (BOX) which is a zero, Lord Tim Razzall you are "in sights" there is more to come. Then it is onto Armadale (ACP), Purecircle (PURE) and FastJet (FJET), oh Duck & Dive where are you? It's time to say "sorry TW was right, as usual - I am sorry for daring to suggest that his analysis was wrong."
3974 days ago
I have taken Quindell Portfolio (QPP) off my “accident waiting to happen” list as it is now in the slow motion car crash category after a set of prelims that contained some very strange items, followed by two obfuscatory “clarification” statements.
This leaves a vacancy and so I have added my old friend Purecircle (PURE) to the list at 355p with a market cap of £592 million. It came to the market in 2007 as the world’s largest supplier of a product called Rebaudioside A (REB A) which is derived from Stevia leaves which are a natural, no calorie sweetener. Basically for every 30 kg of leaves grown, 3kg of crude extract would be produced in the company’s extraction plant in China and then moved to its refinery in Malaysia where it would be processed into 1kg of Reb A, a natural high intensity sweetener (NHIS) which was set to be a mass produced commodity as an alternative or complement to sugar.
That was the plan in the AIM admission document but like most battle plans, the plans you get in such documents rarely survive first contact with the enemy.
