Personal and undiluted views
Quenron

246 days ago

Tom Winnifrith Bearcast: Now Quindell (Watchstone) sues KPMG - this is bonkers, it should be thanking it!

I start with a personal message as to why there may or may not be a break in bearcasts over the next few days. Then it is onto how Watchstone (WTG) – Quenron (QPP) as was – is suing KPMG. This is bonkers. KPMG has made Watchstone shareholders far richer than they should be. I explain that and then discuss how if I was in charge and had a time machine, we would have stopped this fraud ever happening. Without the time machine, what would I do now? 

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735 days ago

He’s ‘avin’ a giraffe – king fraudster Rob Terry wants to sue Watchstone (Quindell as was) for £14.7m

You could not make this stuff up.  Watchstone (WTG), Quenron as was is trying to sue its founder, the king of the fraudsters, Rob Terry and others for breach of the share purchase agreement entered into by the Company with Mr Terry and others on 28 April 2011 in respect of the sale and purchase of shares in Watchstone Limited. But now Terry is seeking to counterclaim for £14.7 million. His claim is utterly ridiculous but will waste more of Watchstone’s dwindling cash pile.

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932 days ago

Tom Winnifrith Bearcast: Could Watchstone, the bastard son of Quindell, be a buy?

In today's podcast I look at Tomco (TOM), Watchstone (WTG), the bastard son of Quenron, Condor Gold (CNR), dire numbers from WH Ireland (WHI) and the read across to the FinnCrap IPO, Amedeo Resources (AMED), the Sith Lord Zak Mir and Optibiotix (OPTI) and at Haydale (HAYD)

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1325 days ago

BREAKING: Watchstone fails in High Court Claim against Rob Terry & other Quindell fraudsters but...

This is a small side issue in terms of the greater Quindell (QPP) fraud which will, in due course , see Rob Terry and others go to jail but this week Watchstone Group (WTG) as Quenron is now known suffered a minor setback against Terry and others. We publish the ruling in full below...

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1343 days ago

Watchstone files High Court defence against £649 million Slater & Gordon claim on Quindell fraud - we publish docs in full

Watchstone Group (WTG) has filed its High Court defence against Slater & Gordon's £649 million claim against it for having been sold the fraud that was Quindell Legal Services (QLS). I must admit it makes for impressive reading and is robust. The one person for whom it makes utterly grim reading is the King of the fraudsters Rob Terry.

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1351 days ago

Purplebricks bullies another critic with fascist lawyers letter from Schillings but Chris Wood bites & fights back

Having received a fascist lawyers letter from heavyweight lawyers Schillings myself I know that it can be quite intimidating. Mine (HERE) was on behalf of the fraudsters Quindell (QPP) and I told Schillings that I would "see you in Court bitchez." I knew Quenron would not dare go through a disclosure process. Estate Agent Chris Wood is armed with the same knowledge and has thus responded robustly to a missive on behalf of Purplebricks. I have chatted to Chris at length today and, as someone convinced, that Purplebricks is a zero I am happy to republish the missive from Schillings  and the response of Chris which adds mountains of evidence to the fact that Purplebricks is a can of worms which is spending ever greater sums trying to gag critics with fascist missives from expensive lawyers. Over to Chris:

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1385 days ago

Slater & Gordon: Dire results, board sacked, UK exited, Debt for Equity near wipeout - the curse of Quindell

Oh dear me, how long is the shadow caused by the king of the fraudsters Rob Terry and his Quenron (QPP) monster? Slater & Gordon (SGH) the Aussie law firm that bought 94% of Terry's assets in 2015 has now officially been brought to its knees with the board all fired, and shareholders almost wiped out, as part of the end game announced yesterday in Oz.

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1422 days ago

Watchstone shares plunge to just 97p (bad news for Evil) - but should you bottom fish? No!

Oh dear. Poor old Evil Knievil who has been a perma bull of Watchstone (WTG), the former Quenron (QPP), loftily dismissing claims by Slater & Gordon for £637 million and my analysis as not worth the paper they were writen on. Oh how bullish was the great man, at 141p, just a few weeks ago as he posted his bon mots on a Bulletin Board. The shares have duly plunged to just 97.5p so costing EK and his fellow BB Morons a good packet. Poor Evil. Poor BB Morons.

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1439 days ago

Exclusive: Watchstone flogs another business back to the old Quenron gang - when will it tell the market?

Suffice to say the big winners from this transaction are the old gang, the associates of the King of the fraudsters Robert Simon Terry, not shareholders in Watchstone (WTG), Quindell (QPP) as was. But its remiss of the new team at Quenron not to keep you updated. So let me assist.

You may remember that among the 191 worthless businesses which formed the Quenron empire was one called Business Advisory Services (BAS). It was bought in 2012 in a shares based deal from Bradley Wingrave, Simon Rand and Mark Read - Mark featured in a number of Quenron deals.

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1443 days ago

How do Nostra Terra's advisors Strand Hanson really feel about their client? Hint..

We all have nicknames for companies and they usually imply something about how we feel about them. So for me Quindell (QPP) will always be Quenron for reasons that should be obvious. So how does Nomad Strand Hanson feel about its client Nostra Terra Oil & Gas (NTOG)? The hint is perhaps in the image below taken from Strand's latest corporate brochure boasting of recent deals that it has completed....

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1451 days ago

Exclusive: The full Slater & Gordon High Court Claim against Watchstone for £537m - damning on Rob Fielding, David Curry & the lies Quindell told

Slater & Gordon (SGH) spunked £649 million on buying the worthless, fraudulent assets of Quindell (QPP) in 2015, a deal that has seen its shareholders suffer a 99% wipeout. It has now filed a UK High Court claim against Watchstone (WTG), Quenron as was for £637 million and we have obtained the papers and, in a major scoop, publish the Claim in full below.

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1464 days ago

Beer & Popcorn time: battle of the poltroons - Slater & Gordon serves Watchstone over Quindell con

Oh boy this is going to be fun. It is one of those battles where you want both sides to lose badly. Like Germany vs Argentina at football or a ratings war between Jonathan Ross and Simon Cowell. But Slater & Gordon (SGH) has now formally served Watchstone (WTG) with High Court proceedings claiming breach of warranty and/or fraudulent misrepresentation for a total amount of up to £637 million plus interest. Watchstone says it will defend this robustly. Boy this will be fun.

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1495 days ago

Quindell fraudster Rob Terry - is he personally on the hook for £50 million as Slater & Gordon sues? If there's a God...

More details of how Aussie poltroons Slater & Gordon (SGH) is suing Watchstone (WTG), Quenron (QPP) as was, for £600 million have emerged in the Aussie press. And for Britain's biggest fraudster of the past 30 years, already under SFO investigation, it is not good news. And top of the morning it is to you Robert Simon Terry.

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1517 days ago

Mercantile Ports & Logistics - slam dunk sell (target 0p) as Nomad Cenkos (again) brings AIM into disrepute

Nomad Cenkos was repeatedly warned by myself and others about the fraud at Quindell (QPP). It banked fees of more than £12 million and did nothing to stop the wrongdoing. In doing so it brought AIM into massive disrepute. Now there is evidence that it is turning a blind eye to horrific red flags at Mercantile Ports & Logistics, which at 8.5p is capitalised at £32 million. My target price is 0p but what the hell is Cenkos playing at? I break my break to deal with the errant Nomad - I have a score to settle here since some of the money it raised for the Quenron fraud was used to harass me with fascist lawyers letters..

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1582 days ago

Tom Winnifrith Bonus Bearcast - It's a 7.14 AM ouzo O'Clock as Slater & Gordon crashes again

Oh dear. Oh Dear. Another trading statement from Aussie law poltroons Slater & Gordon (SGH) and it is grim all round. The shares - A$8 when the fraudulent businesses of Quindell (QPP) were bought - are now 20 cents. And they will go far lower IF a debt for equity swap is agreed and that is the best case scenario. The Rob Terry Quenron businesses are now shown as worthless, another day of V for Vendetta, Vengeance and Vindication for the Sheriff of AIM. Crack out the ouzo and make mine a large one!

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1637 days ago

Slater & Gordon in new probe - was it cooking the books pre Quindell? I reckon it was.

Oh dear, it just gets worse and worse for Aussie law firm Slater & Gordon (SGH), the near bankrupt owner of the fraudulent Quenron (QPP) businesses. It has now fessed up that the Australian Securities and Investments Commission (ASIC) has served it with two notices to produce documents relating to an “investigation into the accuracy of financial records and accounts of the company for the period between 1 December 2014 and 29 September 2015”.

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1684 days ago

Slater & Gordon rewarding failure, balance sheet still crocked

You don't need the brains of Jason Donovan (irony BTW) to see that the purchase of the fraudulent legal assets of Quindell (QPP) by Slater & Gordon (SGH) was a dire error. Surely heads must roll at the Aussie poltroons? Er..no. In fact, with the shares now at A$0.34, down from A$8 at the time of the deal, failure must be rewarded. Speaking at Slater's AGM, chairman John Skippen stated:

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1732 days ago

Cash strapped Slater & Gordon tries to get £50 million from Watchstone with legal threat

Aussie poltroon Slater & Gordon (SGH) has finally woken up to the fact that the Quindell businesses it bought for £647 million last year were worthless frauds and as such it has today said it is taking legal action against Watchstone (WTG), the renamed Quenron corporate entity. I fear the Aussies are merely throwing a Hail Mary pass and that its case is doomed. Its shares are not 95% down since the deal at just 40 cents for no reason.

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1742 days ago

Tesco three charged with Fraud by SFO - This gives a timescale for Rob Terry

The Serious Fraud Office (SFO) has today charged three individuals, Carl Rogberg, 49, Christopher Bush, 50, and John Scouler, 48, with one count of Fraud by Abuse of Position, contrary to section 1 and 4 of the Fraud Act 2006 and one count of False Accounting contrary to s17 Theft Act 1968. These are the first charges brought against folks at Tesco (TSCO) for cooking its books. The timescale is fascinating for those interested in the fate of Rob Terry and the other Quenron fraudsters...

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1842 days ago

Rob Terry's Quob Park Ponzi gets into Crowdfunding with delisted Daniel Stewart

You could not make this up but fraudster Rob Terry is getting into crowdfunding working alongside Peter Shea, the boss of disgraced ex AIM Casino listed China fraud specialist Daniel Stewart (DAN). It was, of course, Daniel Cesspit that listed Quindell on a fraudulent prospectus and signed off of the fraudulent deals with TMC Southern, that conjured up entirely fictitious profits for Quenron in 2011. The SFO will sooner or later arrest Terry and he's going to jail, but it seems as if Shea is determined to implicate himself by association.

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1842 days ago

Note 37 from Watchstone: the fraud of Rob Terry, the Naivete of Watchstone & the ghastly truth for S&G

You remember how Noise Induced Hearing Loss (NIHL) was going to transform the profits of Quindell (QPP)? Okay, there had always been sub 20,000 successful claims a year but fraudster Rob Terry was accruing profits on the basis that Quindell was going to win 72,000 a year. Yes a 360% market share and the City analysts, mug punters, auditors KPMG et al believed him! Jesus how could they be so thick or corrupt? We did warn them. Anyhow, have a butchers at Note 37 of the Watchstone (WTG) - Quenron as was - accounts yesterday. It states:

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1880 days ago

Fraudster Rob Terry of Quindell infamy slams AIM as not being well regulated - insists he must be quite honest

Rob Terry's interview with the Sunday Telegraph today really is a laugh a minute. Having noted how he things S&G got a bargain buying Quenron assets - a deal that has pushed it to the brink of insolvency, Terry then moves onto the AIM market. Rob is concerned about its standards of regulation. Fuck me this is ridiculous.

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1924 days ago

Just a bit more bad news for Slater & Gordon...

Oh dear, can life get any worse for Aussie poltroons Slater & Gordon (SGH)? Er yes of course it can. And in fact it just has...

Shares in the Aussie poltroon insurance company have bounced from an all time low of 26 cents to 34 cents and so are now only 95% down from the Quenron peak of last year. The company is still burning cash and set to breach bank covenants and go bust by Q3. So can there be any more bad news?

Oh dear. 

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1931 days ago

I am now warming to Lord Michael Howard of Quindell too

First it was Donald Trump who I started warming too. Now it is Lord Howard, the ex Tory leader now a NED at Watchstone, the company once known as Quindell or Quenron. It is true I really am starting to rather like the man.

With Trump it was very much your enemy's enemy is your friend. If the Guardian, C4 News and BBC loathe someone he really can't be all that bad can he?

With Lord Howard, we may have crossed swords over Quenron, but he is just so amiable. Feeling bored the other day

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1934 days ago

Slater & Gordon shares crash to just 32 cents as the curse of Quenron savages value - target ZERO

If you spunk A$1.3 billion buying a fraudulent business like Quenron and leaving yourself drowning in debt as is Slater & Gordon (SGH) your shareholders are going to get 100% fucked it is only a matter of when. 

Ten months ago as the Aussie poltroons bought the Quindell operations S&G shares were A$8. Today they closed at 32 cents. The good news for shareholders

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1987 days ago

Watchstone £1 Disposal today - what that tells us about the Quindell fraud

Watchstone Group (WTG), formerly known as Quenron (QPP) has today sold its property services business BE Insulated and Carbon Reduction Company for just £1. The statement is telling.

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2008 days ago

Christmas comes early - another Slater & Gordon profits warning - bankruptcy a cert for 2016

Thank you Santa for this early present. Aussie poltroons Slater & Gordon (SGH) have issued another profits warning with its UK businesses, notably those bought from Quenron (QPP), blamed. Bankruptcy in 2016 now looks a slam dunk cert.

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2031 days ago

George Osborne finishes off Rob Terry’s good work – Slater & Gordon is heading for zero

Last weekend I explained HERE how the purchase of the fraudulent and grossly overvalued business of Quindell (QPP) by Slater & Gordon (SGH) earlier this year threatened the Aussie poltroons with a drowning in debt wipe-out – quite simply it is not generating any cash, thanks to Quenron. This afternoon things got worse, much worse. Thanks to Chancellor George Osborne, shares in S&G are now almost certainly heading for zero. It is now the short of the century.

In his Autumn statement Osborne unleased a bombshell on the ambulance chasing industry. I quote

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2099 days ago

Breaking: Quindell fraudster Rob Fielding stepping down with immediate effect at S&G - source

Industry sources say that Rob Fielding, the former CEO of Quindell (QPP) and until yesterday running the businesses bought by Slater & Gordon from Quenron is to step down with immediate effect.

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2100 days ago

Life on Marbs starring Quindell fraudster Jon Stretton Knowles Episode 9: JSK gets his naked man but what about the 2 slappers?

How I suffer for you dear reader? I have just watched episode nine of  the worst ever reality TV show, Life on Marbs starring Jon Stretton Knowles, the owner of the Quindell Country Club and a key player in the Quenron (QPP) fraud. To be fair to episode nine it was no worse than the previous eight.

I am sure you will enjoy the fashion show but for JSK the highlight was getting to see his naked man. Life is about tough choices and as he sips a strawberry daiquiri (“because it’s good for you” – JSK) Tango has to choose which of the two slappers he is eyeing up he is going to pursue. The whole thing is just too dreadful for words.

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2175 days ago

Quindell & the TMC fraud that created 140% of stated 2011 profits – much more for Lord Michael Howard to consider

The most blatant and biggest (in relative terms) fraud at Quindell (QPP) concerns the TMC Southern panama pump which created 140% of the reported Quenron profits in the 15 months to December 31 2011. Lord Michael Howard has confirmed that the new board is aware of this monster fraud as are the SFO and FCA and other regulatory bodies. But to demonstrate the duplicity involved I bring you more detail.

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2180 days ago

Quindell's pals: Slater & Gordon shares crash as it admits to its own accounting “errors” with additional comment

Slater & Gordon, the Aussie law firm that grossly overpaid to buy the bulk of the fraud Quindell (QPP) has seen its shares crash by 25% to just A$3.78 today as it has admitted that it too has accounting “errors”. The stock traded at A$7.95 on the day it announced the Quenron deal…We told you that the short trade had just moved on…

The ambulance chasers at Slater say that they will co-operate with the Australian Securities & Investments Commission (the Oz FCA) noting: “The company was notified by Pitcher Partners that ASIC intends to raise some queries directly with the company.”  Yes Slater will co-operate. What choice does it have? I can't imagine that it does so with great pleasure.

Slater said

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2180 days ago

Rob Terry, Quindell, the Serious Fraud Office and Slater & Gordon – and accounts delayed again

I have known for months and months and reported it here that the Serious Fraud Office had at least interviewed folk on Quindell (QPP). The weekend press suggests that the SFO is now formally on the matter, something that has massive implications for insider dealer and fraudster Rob Terry, Quindell and possibly for Slater & Gordon. This comes on a day when Quindell warns that its accounts will be delayed – oh dear, oh dear. 

For Terry the SFO news is a disaster. The FCA has the power to fine him a multiple of the proceeds of his crimes but the involvement of the SFO means that a custodial sentence is a gimme. Do not think that the FCA and SFO are at an early stage on this matter they have been on the case for months. In the case of Terry what is interesting is who joins him in the dock. Hapless ex FD Larry Moorse is certain to be there but I’d bet a fiver that ex CEO Rob Fielding will be there too, not least for the £2 million bung he picked up as part of the £30 million deal to buy a worthless business from convicted Nigerian fraudster Andrew O’Dua.  The NEW board at Quindell was made aware of the O’Dua/Fielding scam and did nothing.  It strikes me that all sorts of folks in Hampshire should be stocking up on the KY Jelly as they prepare for life in B Wing.

Quindell itself

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2182 days ago

We act for Quindell PLC and Mr Robert Terry its chairman - the first fascist lawyers letter I ignored

On 19 August 2014 Quindell (QPP) put a statement up on its website about someone it dismissed as a "blogger" accusing me - for it was me - of making it all up and promising shareholders that it would take legal action against me. A truly fascistic lawyers letter (in full below) from legal eagles Dorsey & Whitney arrived the same day. It demanded that by 4 PM that day (ie within hours) I must withdraw all artices, sign an apology drafted by Quindell and that if I did not that Quindell would seek an injunction and sue me for damages and costs. Fuck you Quindell, Robert Terry and Dorsey & Whitney, see you bitchez in court.

As I noted at the time, the idea that I would sign a confession drafted by Rob Terry is Stalinist or Orwellian or both. It was like the though 1984 was a blueprint not a warning.

I did not cave and yet Quenron

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2271 days ago

Slater & Gordon Shares suspended – it is buying QLS – what now for Quenron?

Slater & Gordon shares have just been suspended in Australia for 24 hours which means that an announcement for Quindell looms today and amazingly it seems asif it is to pay £637 million in cash for QLS. What now for Quindell?

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2272 days ago

Quindell – putting the PWC delay into perspective

In 2014 the esteemed firm of KPMG (Southampton office, three partners) started its audit of Quenron just after Christmas and by March 31 had done enough to allow Quenron to publish the 2013 results – less than three months and the job was largely done. When did PWC start work on reviewing Quindell’s fraudulent accounting policies? Early December 2014.

So that means that PWC, throwing however many staff Quindell’s banks tell it to at the project, has already had just a few days under four months to determine the level of fraud and how big is the black hole at this company in cash crisis.  All of this begs a few questions.

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2281 days ago

Tom Winnifrith Bearcast - 20th March

I save the best, Quindell, to the end of the podcast but ahead of that cover Gulfsands Petroleum, Igas, Gulf Keystone, Northern Petroleum, Mosman Oil & Gas, Afren, Digital Globe ( read Steve's piece HERE), Daniel Stewart, Gate Ventures before ending with Quenron and PWC.

If you enjoy this sort of thing you will love UK Investor Show. With fewer than 200 of 2,000 seats left for April 18th book your place now HERE

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2283 days ago

Nominate your NINE stockmarket villains or buffoons of the past 12 months – its for UK Investor Show

All will be revealed in due course but this is going to raise money for Woodlarks, will be a lot of fun at UK Investor Show and I ask for your help. Simply nominate your top nine stockmarket knaves or buffoons of the past 12 months – all must be from different companies or organisations. For starters here is mine:


1. Rob Terry Quenron

2. Marcus

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2283 days ago

Tom Winnifrith Bearcast - 17th March

In this podcast I comment on Quenron but then move onto a detailed look at WANDisco (WAND) of which it would be an untruth to say that I was bullish.

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2283 days ago

Slater & Gordon Bitch Slaps Quindell for a 3rd time for misleading investors

Aussie law form Slater & Gordon must be getting pretty pissed at having to issue Oz RNS releases clarifying the lies issued by Quenron. Once again a Quisling journalist has made definitive statements about an offer made by S&G for Quindell’s QLS unit. The Quisling’s claims are preposterous but in clarifying Quindell does not deny them forcing S&G to publicly bitch slap. So this time, I recap:

Quisling Betaville author Ben Harrington, whose Quenron stories have been 100% wrong to date, cons the fools at the Sunday Times into stating that S&G will offer £640 million plus a defcon of up to £300 million for QLS and that the deal will be announced on 23rd March.

Quenron shares soar 

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2283 days ago

Quindell – here we go again with Quisling ramp - RNS translation service

In response to yesterday’s ludicrous story in the Sunday Times and a 30% hike in its share price Quindell (QPP) has again put out a misleading statement about its discussions with Slater & Gordon about QLS. I shall again translate this into English. 

The Quenron statement reads: 

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2300 days ago

A song from Tom for Doug Ware of Worthington, Rob Terry of Quenron & Houyan Lin of Naibu

Doug Ware of Worthington tried to bully me into not exposing his company as a top to bottom fraud with letters from his ninth rate lawyer, smears on his corporate website and by calling in the Police. Doug you picked on the wrong man. Folks round at Daniel Stewart threatened to beat me up partly because of what I wrote about Houyan Lin, Naibu and the other Daniel Stewart China frauds. They picked on the wrong man too. And so here's a song for you both and for Rob Terry of Quenron who played the same game. And for all the Bulletin Board Morons out there who smear, harass and threaten me.

Hat tip to reader (JPS) for this selection, in the words of another guy who was born a rebel (ie in Dixie in his case) and is called Tom...

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2300 days ago

Quindell – Oh Dear – the CCJs start – massive cash red flag

Managing a company that has run out of cash is hard. You must delay paying bills until the last possible moment, keep the banks happy, try to generate cash however but in the end something cracks. If like Quenron you have net debt and are burning cash, you can stretch your average payment terms out to a disgraceful 122 days (and climbing) but in the end someone you owe money to takes you to court and gets a County Court Judgement (CCJ) against you. For investors this is a massive red flag.

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2302 days ago

Quindell – Its bust and playing for time: PWC delayed

After working on reviewing the fraudulent accounting policies of Quenron (QPP) for almost three months – as long as it takes to do an audit – Quindell still cannot publish the PWC report. It promises that it will do so in “another few weeks.” The statement released today is a disaster but for those who need assistance I shall translate what it says into what it actually means.

Quenron is in italics, what each phrase means is in bold

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2303 days ago

Formal Request to FCA to investigate David Currie and Quindell for Market Abuse

On Monday 22 February the fraud Quindell (QPP) put out a statement that misled investors as to the status of its discussions with Slater & Gordon as to the sale of QLS. Slater and Gordon was forced to clarify the situation with its own statement. Shares soared on the Quenron RNS but retreated as S&G revealed the truth. As such this begs the real question as to whether David Currie, the chairman of Quenron and old pal of Mr Robert Simon Terry, is guilty of market abuse. I have written to the FCA today asking it to launch a formal enquiry.

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2305 days ago

Slater & Gordon Bitch Slaps Quindell’s misleading statement – no offer made

For the second time Slater & Gordon has been forced to make an official statement to correct misleading statements made by Quenron (QPP). What planet is the fraud Quindell on?

Yesterday Quindell stated that “Discussions are progressing with SGH and the indicative terms being discussed would imply a significant premium to the Company's market capitalisation at the close of trading on 20 February 2015.”

S&G has responded by saying that while talks continue “No offer has yet been put to Quindell and there is no certainty that an offer will be put that is attractive to Quindell or that a transaction will eventuate

You can read the statement HERE

Is eventuate a real word? I do not know. Was the Quindell statement utterly misleading? 

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2306 days ago

Quindell – Slater & Gordon Good News? Er…

The quisling blogs reported at the weekend that Quindell (QPP) has received a £700 million offer for QLS from Slater & Gordon. A statement from Quenron this morning gives hope to the bulls and the shares have shot ahead to 94p but I would not be putting the champagne on ice just yet.

The statement reads: 

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2311 days ago

Minster Law – The Read Across for Quindell is dire and explains the rush to Deafness

Minster Law is a York based law firm operating in the Personal Injury market and with 800 employees is a material player. And its results for last year are just out and are dire and that has a dramatic read across for Quenron (QPP). 

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2315 days ago

Tom Winnifrith Bearcast - No Valentine's day Love for the bad folks

This podcast mentions stocks enpasant though natch there is a swipe or two at Fitbug and Quenron. A bit of bad language fear but I try to be calm as I cover two very important matters.

1. The launch of PrimaryBid - I explain how this can level the AIM casino playing field and why  YOU MUST ALL SIGN UP HERE & NOW!

2.  UK Investor on April 18 in Westminster - book your seats HERE NOW

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2317 days ago

Tom Winnifrith BearCast - Quindell accounting and cashflow fraud H2 explained in full

Long, long chats yesterday with a Liverpool lawyer and a helpful reader email allow me, I think, to explain why the underlying cashflow miss at Quindell in H2 2014 was in fact UP TO £85 million ( not the £45-60 million I had demonstrated). And I think the key to the miss is accruals and when Quenron started its Industrial Deafness push and how it accrues for it. This is a bit geeky but I believe explains the mystery in full. It has clear implications for the Rob Terry insider dealing case, demonstrates clear market abuse and also if one reads through to 2015 shows why Quindell is insolvent. I also try to explain why I have never had the surname Cochrane (sorry Quindell Quislings).  And I cover the importance of the Tosca news.

To support our continuing campaign against fraud on the AIM casino (but also main market listed frauds) click HERE

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2319 days ago

Maine Finance – New Information on how a Quindell Subsidiary is failing and frauding as the cash runs out

Last week I stated that Maine Finance, a Quenron subsidiary which has racked up a £5 million overdraft so that it can lend money to other Quindell operations had basically stopped paying lead suppliers because the cash has run out. Thanks to information from someone incredibly close to Maine I can now give you the full story. This is symptomatic of what is going on across the Quenron group because there is no cash. 

Maine was started by two men James Eneas and Tony Smith in 2012. With a third investor they set up the operation in 2012 as QSM (UK) Ltd otherwise known as Quotesupermarket.com. Each owned a third of the business. Quindell bought Maine Finance and took the option to buy James and Tony's share in Quotesupermarket.  

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2320 days ago

Breaking: Quindell – Grim News from Australia with the Slater & Gordon Interims

Just last week Quisling Quindell (QPP) blogs like Betaville promised us that a bid from Slater & Gordon was imminent. Oh dear. More lies. Hard cheese morons. Slater & Gordon has just released its interims and they do not read well for Quenron.

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2321 days ago

Memo to Jim “hammer” Sutcliffe and Richard Rose of Quindell – how to spin the PWC disaster

You know that I am just a plain and simple nice guy. Well if you do, don’t tell anyone as I have a reputation to preserve. But as a nice guy I thought I’d drop a memo to the new team at Quenron (QPP), Jim “Hammer” Sutcliffe and Richard Rose about how to spin the looming disaster that is the PWC Report into Quindell’s fraudulent accounting policies.

Memo to the Hammer & Rose

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2327 days ago

Quindell still talking to Slater & Gordon….its shareholders are still screwed

Last week, websites supportive to Quindell (QPP) claimed that there would be a bid for QLS from Slater & Gordon by the weekend because its exclusivity deal with Quenron ran out on Friday. Quindell ignored that comment. Today, with its shares in freefall, it has in a raher panicked way “responded to press comment” and said exclusive talks are still on. So what does that tell us?

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2329 days ago

Quindell…the penny is starting to drop: collapseroonie ahoy, just how bad is the cash position?

It has been a quiet week on the Quindell (QPP) front although none of the ludicrous bull calls have come good: S&G exclusivity ended Friday and we were told that a bid would happen last week and that Quenron had lined up a big bank to advise it. Well …it did not happen and it will not happen.

Slater & Gordon could not afford to pay more than a couple of hundred million quid for QLS and based on its historic acquisition criteria that would be a very full price in relation to what WIP would be once PWC has finished reviewing the crooked books. It was only a week ago that S&G said it had not submitted a bid and given that there are no other potential bidders it would be utter insanity to even contemplate a move until PWC has finished its work.

The fiddles revealed here last week

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2334 days ago

Bulletin Board Moron of the Week 10 – in Honour of Motley Fool Quindell Moron Prabhat Sakya

Prabhat Sakya writes for Motley Fool and thinks that Quindell (QPP) is a good yield play on a PE of 1.2 and thus has sold his Barclays shares to buy more Quenron – words fail me. Just to show that morons do not obnly post on the LSE.co.uk I bring you Prabhat’s latest pearls of wisdom as a treat. It is a hoot. Do you think you kind find anyone thicker than Prabhat posting sheer lunacy on a Bulleton Board? If so please post those gems in the comments section below – deadline midnight 1st February.

Prabhat writes:

Last year my portfolio took quite a beating.

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2335 days ago

Reader Post of the Weekend: 42 on Quindell

As you know City guru 42 (I know who he is) is a famed Quenronologist and his Quindell (QPP) post on the ShareProphets comments section from this weekend merits a wider audience as it really debunks the idea that a fire-sale of QLS to Slater & Gordon will save Quenron. 42 writes: 

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2337 days ago

Quindell Bearcast - Slater Gordon and the Gotham Dragon starts to wake up

I exposed how Quindell is going to get rogered (at best) by Slater Gordon overnight HERE in this podcast I discuss how this accounting fiddle works, what it means for Quenron's (QPP) dire financial position, it really should be fessing up to that and has not and I also flag up that Gotham City Research is starting to wake up.  For the avoidance of doubt the share price target remains 0p and the fact that the shares are up today shows nothing other than the insanity of man, the bear case has just got stronger still.

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2342 days ago

Reader Comment of the Week: 42 on Quindell & PWC

As you know, ShareProphets reader 42 knows Quenron (QPP) better than most and as such his predictions on what PWC will say about the company are worth paying attention to. They make for terrifying reading if you are long. 42 posts:

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2354 days ago

Tom Winnifrith Bearcast Quindell & the Biosign fraud - it all goes back to Lava

This is a small piece of accounting fraud by Quindell (QPP). It all goes back to Lava - Rob Terry's first big fraud.  In a nutshell this shows how Mr 2+2 can = 5 ran Quenron with old pals and why there is so much worse to come.

NB In the podcast I erroneously refer to Lavasoft. Of course I meant the now defuncy Lava Systems Inc founded by PH and brought down by RT

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2354 days ago

Tom Winnifrith Quindell BearCast - a whistleblower explains the culture of bribery, fraud and lies

The title is self-explanatory. The contents of this podcast are most serious. hapless Nomad Cenkos can verify the lot or it can just admit that it does not give a FF about its regulatory duties.

To pre-order your FREE copy of Tom Winifrith's new book "49 Red Flags" out on Wednesday 7th January, which taks a lot about Quenron (QPP), fill in the form HERE

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2354 days ago

ShareProphets Reader Post of the Day: Invetigate on Quindell

Why, we were all wondering, did Quenron (QPP) loan CAN6.8 million to a near bankrupt Canadian software company? Reader Inevitgate has the answer. Shimple, so as to not have to admit that revenues booked in 2012 and 2013 were totally uncollectable and so face a P&L hit. Shimples. Great work. Here it is. 

With respect to Biosign; 

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2355 days ago

Quindell – why did Phil Hodgkinson depart on New Year’s Eve?

Who is Phil? He is a big cheese at Quindell Legal Services. So why did he leave the Quenron (QPP) sinking ship so suddenly on New Year’s Eve – filings at company’s house show that his directorship was terminated on that date.

To show how important Phil was I quote from a recent FT article: 

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2357 days ago

Tom Winnifrith Bearcast 3rd January

Why do share lock-ins matter? Let me explain and I do so with reference to Quindell (QPP) as this will be something that the Serious Fraud Office needs to examine either before or after Quenron goes into administration. I also have a few words for the motherfuckers at Schillings.

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2358 days ago

Reader Comment of the Day – Ref Quindell

Well done Miserly Investor who provides another very plausible interpretation of the RNS today from Quenron (QPP). My own translation from bollocksese into English is HERE. But Miserly posts here on ShareProphets a very sensible comment. His second paragraph in particular is I believe highly relevant. Miserly writes:

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2358 days ago

Quindell: Translating today’s RNS from Bollocksese into English

Quindell (QPP) has today issued an RNS which is pure bollocks. Ever keen to help I am happy to provide a translation into English, something which shows both that the new board are as keen to mislead as the old and that this company is up shit creek without a paddle. 

The Quenron statement follows in italics, the English translation is in bold. 

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2360 days ago

Tom Winnifrith BearCast 26 December - 'T is the season of Goodwill for Quindell

Following the shock Rob Fielding revelations of yesterday, conversations with three current and former Quindell employees and some early morning reading of the Quenron (QPP) 2013 accounts, notably page 57, I have more shock disclosures about Quindell and its acquisitions and rather tough questions both for the fraudsters and for the bumbling incompetents at KPMG who signed off on such utter gibberish and obvious lies.

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2360 days ago

Quindell CEO Robert Fielding: Tell us all about RTA Management Services Ltd and the £2 million?

On 14th January 2014 Quindell announced the purchase of ACH and associated companies for £5 million in cash and 117,812,500 (pre consolidation) shares at 22.5p. We have pointed out before that ACH was 100% owned and run by a convicted Nigerian Fraudster Andrew O’Dua, something Quindell did not mention at the time. But now the spotlight falls on the associated companies and how Quindell CEO Rob Fielding made a quick £2 million. 

The main associated company was called RTA Management Services Ltd and it was set up on 2nd December 2013. It had one shareholder Rob Fielding and no assets. It was a shell. And it was part of the transaction.

I have established that the shareholder list for Quenron post the ACH deal saw the Nigerian Fraudster O’Dua

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2368 days ago

A Quindell Christmas Carol …part one

It was the night before Christmas and all was still at the Country Club, Rob Terry called home. The great man himself had decided to call it a day early and was lying (as is his wont) on his enormous four poster bed. Young Mrs Terry had said that she was going out with girlfriends To S.Daddy, a new nightclub in Southampton and so Rob’s only companions were his two faithful poodles Canakos and Cencord who lay snoring at the foot of his bed.

The two watchdogs were definitely off duty that night, as every night, but Rob himself was finding it hard to fall asleep. He tried counting sheep. 1 + 1 makes 2, 2+ 1 makes 3, 2+ 2 makes 5, it went on but to no avail. Pulling on a Quenron corporate Christmas Jumper

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2370 days ago

How dare you attack a great British company with 4000 staff and £1 billion sales say Daily Mail Readers - BearCast Special

Daily Mail Readers are today lashing out at their paper for flagging up that Quindell (QPP) shareholders are signing up in droves to take a class action against the fraud and the fraudsters. This is a Great British Company, paying taxes, creating 4000 jobs and with £1 billion in sales they say. No it is not as I explain below & I speculate on how much Rob Terry and his henchmen have taken out of Quenron.

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2373 days ago

Quindell – Now tell us about the Gotham judgement fellows? And what about suing me?

Back on 9 September 2014 Quenron (QPP) announced that it had defeated the brave ad heroic campaigners for truth and justice known as Gotham City Research in a libel case. Of course like everything else Quindell announced that was not exactly true but what is happening now?

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2374 days ago

Quindell – why will it not answer questions about sleeping arrangements at the management away day?

Via his PR I have asked Robert Fielding, the CEO of Quindell (QPP) questions about the sleeping arrangements at the recent Quenron management away day at a luxury hotel in the Lake District. No comment is the response. So I tried a different tack

I contacted Mrs Jill Harrison the head of HR at Quenron (see below). Once again there was no response.

What is it

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2375 days ago

And now at 32p the Quindell Bulletin Board Moron of the day (DMajor) thinks smearing me helps

Quenron (QPP) shares are now down to 32p. 0p or suspension or both looms and is coming soon. Even the dumbest fuck in the universe must understand that. But no, Tom Dobell at M&G and the posters on the LSE Asylum just reckon it is corporate governance or in the case of the latter it is all down to me. Today’s moron DMajor explains Quenron’s share price collapse by posting six sentences containing three howling spelling mistakes or grammatical errors and NINE lies about me.

The post was sent over by a keen reader. I am not asking the LSE to take it down – let the morons expose themselves.

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2376 days ago

Tom Winnifrith's BearCast - 15 December, Quindell not mentioned once!

It's a first. A daily podcast not mentioning Quenron (QPP) at all. But for the record its shares dived by 7.2% to close at just 38.5p. Only 38.5p to go to fair value. Instead I discuss Ludorum, Mysale, Naibu, China Chaintek, Enables IT, Ultrasis, Touchstone Gold, Beacon Hill, LGO and why I remain an equities bear. However I reveal a very small AIM company in which we have just made a material (for us) investment.

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2376 days ago

Quindell Bulletin Board Moron of the week (7) – the Result

As ever the standard of entries was very high. As I sit here in a very much open Real Man Pizza Company I reflect on the poster who has it on “good authority" that RMPC has gone bust, unlike Quenron (QPP) where he is still “long and strong.”  To read all 36 nominated examples of sheer idiocy click HERE.  But there has to be a winner:

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2377 days ago

The Empty Quindell Box at the Emirates - £72,000 a good investment: make Larry an offer!

What was Quindell’s (QPP) worst investment? It is hard to know. £2.77 million for Skillwise (sept 2013), a company with no assets bought by its previous owner the day before for £68.40 including VAT is a prime contender. The £150 million spent on the cash consumptive shite that is Himex must be another. But how about a luxury executive box at the Emirates?

Yes, the ability of Quenron to waste shareholders cash knows no limits. I would have thought that having to watch Arsenal all season is a good enough punishment for some crimes but reckon that Rob Terry deserves an far stiffer sentence when he finally meets justice – at least a decade inside and a £19 million fine, for reasons I explain HERE.

But Quindell does indeed have a box at the Emirates. If you are a glutton for punishment,

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2378 days ago

Tom Winnifrith Bearcast: Himex the biggest fraud in the Quindell fraud on 2 counts

Today's Quindell podcast concerns Himex which, within the stable of frauds that is Quindell (QPP), is the biggest fraud inflicted on investors. There are two levels at which this is a fraud and recent actions by Quenron show how desperate it is to cover this up. All is revealed today

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2381 days ago

Tom Winnifrith's BearCast - 10 December

I am back in Clerkenwell at Real Man Pizza if any Quindell morons or Daniel Stewart employees want to come and "deal with me". On the Bearcast today, Sefton Resources, dead cat bounces, Kenmare Resources, insider dealing, Mwana Africa and of course the fraud Quenron.

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2381 days ago

Rob Terry of Quenron dumps 24 million shares – what more do you morons need to know?

Rob Terry told the Quindell morons that he would buy shares at 180p. Today it was announced that he had sold c24 million of his 37 million shares at c40p. What more do you morons need to know?

So you know that this lying, insider dealing, fraudster

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2381 days ago

Tom Winnifrith BearCast Rampage as Rob Terry dumps his Quenron shares

No apologies but this Bearcast contains strong langauge. Fraudster Rob Terry has dumped nearly all his Quindell (QPP) shares. It is time for the morons to apologise to me as I am now 110% vindicated. I discuss lessons learned (other than do not mess with the Sheriff) and also what folks should do next. Start by apologising to me and my staff then have a measured go at Terry, AIM Regulation, Cenkos, Daniel Stewart, Canaccord and KPMG.

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2383 days ago

Quindell Profits/Accounting/cash warning - dependent on bank support - bearcast rampage from Tom Winnifrith

All my work since I first used the word Red Flag in April 2013 has been vindicated. My scoops of this weekend on Quindell (QPP) have been shown as true - today's statement is a total disaster for Quenron. Bulletin board morons who abused and threatened me get your sorry arses round to Real Man Pizza today to buy a large pizza and expensive bottle of wine and give my fantastic staff a large tip to say SORRY. The following points stand out:

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2384 days ago

Why did Quindell buy a business from a convicted Nigerian Fraudster for £30 million Part 2

On Friday I speculated that Quindell might have spent £30 million buying a business (ACH) off a gentleman who might have been a convicted Nigerian Fraudster HERE. I think we can now say that the Gentleman in question WAS ALMOST CERTAINLY the convicted fraudster.  Give that ACH (now known as Quindell ACH) is regulated by the Ministry of Justice do you perhaps think Quenron might wish to clarify the matter?

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2384 days ago

Quindell Quiz of the day

This is a very easy one. I tried it on Victoria Geoghehan (pictured), Quenron’s (QPP) new PR bird at Bell Pottinger but she said “no comment”. Apparently her expertise is crisis management which, as far as I can see, means her firm getting paid £10k a month to answer all difficult questions with “no comment.” Fuck me, I am in the wrong game here. Anyhow back to the quiz.

I give you a picture below of the Quenron senior management team. The easy question here is “why is this not entirely accurate?”

As a hint

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2385 days ago

Quindell the Whistleblower Part 2 – the true balance sheet position

In the wake of the exit of Rob Terry, the Quenron (QPP) CEO Rob Fielding communicated with CEOs of companies within the Quindell Empire and other senior staff and my whisteblower was in on what happened and the admissions are wholly at variance with market forecasts – this is damning.

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2385 days ago

Quindell Whistleblower Part 1 – The wages Scam, market abuse & Christmas payday laid out

I was contacted yesterday by a senior management figure with the Quenron (QPP) group. We spoke at length and in part two of this series I will serve up a series of bombshells for you. But let’s start with a minor bombshell – the issue of when Quenron staff have and will get paid and of market abuse by Quindell.

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2386 days ago

Quindell, the £30 million and the British Nigerian Fraudster (a coincidence I'm sure)

I wanna tell you a shtoree.  And it involves your favourite fraudulent AIM listed firm Quenron (QPP), £30 million and a gentlemen called Andrew O’dua who is a British Nigerian er…entrepreneur.

On 14 January 2014 Quindell announced the purchase of ACH Manchester in a cash and shares deal worth at the then price c£30 million. The statement reads:

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2387 days ago

What a Quindell Moron does in his spare time…blackmail and lie

When will these thick bastards realise that what happens to my business will not alter the fate of Quenron (QPP)? I keep accusing it of fraud and lying and although it blusters it will not actually sue me for libel because it is a fraud run by liars. And it will go bust. So as the Morons watch their life savings disappear here are a couple of things that they do.

A couple have written to Chapel Down because the maker of fine English Wines is sponsoring the ShareProphets Seminar on Monday 8th so there is free champers on offer as well as myself, Amanda van Dyke and 3 companies presenting. You can book a seat by emailing your name and address to [email protected] The Morons have told Chapel Down that they do not like its involvement with ourselves and so will sell their Chapel Down shares unless it pulls out.

Hmm.

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2388 days ago

Quindell – the RNS It Must Issue Thursday 7 AM: Clarification of Financial Position

Quindell (QPP) shares fell sharply at the close today thanks to reports that a respected trade body was warning its members that Quenron might not pay its debts. Quindell now needs to put out an urgent release at 7 AM and here is what it needs to issue:

Quindell PLC - Clarification of Financial Position 

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2388 days ago

Quindell Bulletin Board Moron of the Day – Or is it parody? It is hard to tell these days..

Are these folks certifiably insane or is this parody? You really just do not know these days but this post has it all: a blinding faith in Rob Terry, total lack of historic knowledge, ludicrous bid story, technical analysis, total innumeracy and the Harriet Green to be CEO story. Could this be the most brainless Bulletin Board Moron yet or is just an attempt at humour. Given how many loons here are out there I suspect the former and Jerry2Toes is the Bulletin Board Moron of the day. From the ADVFN Asylum I bring you: 

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2391 days ago

Tom Winnifrith BearCast Special - Quindell just how grim is the cash position?

Right now we are focussing on Rob Terry's lies about share trades and about how he and Fidelity are racing to offload their worthless stock in Quenron (QPP). But there is another pressing issue which is just how grim is the cash position. I put it to you that while Mr Terry's personal bank account might be bulging, back at Quenron the position is dire and that is why Mr 2+2 can = 5 is so keen to offload his stock at almost any price. I explain why the game is almost up.

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2391 days ago

When will Quindell pay its staff for December? Serious Question

At RMPC we normally pay staff in the last week of the month but in December we will pay my heroic colleagues on the 15th or thereabouts. Nearly all companies pay staff early in the festive month so that they can pay for the vile consumerist event that Christmas has become. I am sure Quindell staff were paid early in 2013 as the company had just completed a £200 million placing. But what about 2014?

We know that in Q3 Quenron

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2391 days ago

Quindell Red Flag of the day 2 – Overland – give your mates shares and then bury the bad news

The stench of fraud, corruption, lies and deceit at Quenron (QPP) is now obvious to all but the biggest moron. In their desperation the shareholder morons (assisted by Quindell itself) throw ever nastier and more misleading rubbish at the critics, notably me.  My response, I am not flinching I fight lies and smears with proof of FRAUD. Let's reveal another scandal at Quenron.  This will horrify you. Meet Overland and meet Jason Cale. 

On 26 September 2012 Quenron completed the purchase of Overland by issuing 140 million shares so valuing it at £14 million. The deal was originally announced on April 19 2012.. The September statement reads:

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2391 days ago

Quindell Red Flag of the day – Let’s Look at Isaas Technology Ltd

I have not looked at a subsidiary account at Quenron (QPP) for a while but just to save the SFO/Administrator some work in due course here’s another one, Isaas Technology Ltd a company bought in March 2013 for £4.5 million in shares. Hmmmm.

I refer you to the Quenron August 2013 investor presentation as it started the ramp up for the £200 million rescue placing of that year – see HERE for the lie packed document in full.  We were told (page 13) that we had a warranted EBITDA for 2013 of £1.6 million and that current run rate was £1.7 million.  That fits in with the Quenron stated policy of paying a maximum of 5-7 times profit.

I now refer you to the 2013 audited accounts

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2391 days ago

Tom Winnifrith Bearcast special - That Quindell "contract loss" explained

Quindell (QPP) denied on Friday that it had lost a contract with a leading North West based Claims Management Company. Hmmmmm. In this podcast I look at the nature of what that contract originally meant and why the contract has not been terminated (yet) but what is really going on. The reality is that the cash crisis at Quindell and the need to fiddle its stated cash position is forcing Quenron to take actions of which investors have no idea. Let me enlighten you all.

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2393 days ago

Another TWO bullyboy lawyer’s letters from Cannacord – boy they are ashamed about Quindell

We have received not one but two MORE bullyboy lawyers letters from Canaccord. The adviser to Quenron’s abortive move to the main market and until last week co-broker to the fraud that is Quindell does not even want us to quote from its recent volte face note on Quenron. You will no doubt have seen Canaccord notes on other matters quoted verbatim widely all over the media. So why is it so ashamed of this research report?

You will remember that on 21st October Canaccord published a note advising folk to buy Quindell with a 362p target. But last week it withdrew its recommendation and forecasts. It warned of major goodwill and accrual writedowns and raised concerns about the working capital position. In essence it appears to now agree with much of what I have been saying for months.

Canaccord argues we are breaching copyright.

One defence is the public interest and you might ask Canaccord the following questions:

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2393 days ago

Quindell: Panic & Bluster in today’s RNS, The Death March accelerates

Yesterday afternoon the poodles at iii ran a story claiming that Quenron (QPP) had lost a major contract and stating that there was a real cash crisis. Quindell has responded with an RNS which is bluster and reeks of panic. The statement reads: 

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2394 days ago

New Reader Poll – when will Quindell shares be suspended pending Clarification?

The poodle reporters on Interactive Investor have hitherto not dared to annoy their readers by criticizing Quenron but even a poodle has teeth and today it has reported that Quindell has lost a major contract and – worse – cannot pay suppliers until the New Year. In other words tits up time looms. Hooray! That will be another celebratory Metaxa for me please Eleni. So when does the RNS arrive. You vote – deadline midnight UK Time, 2 AM Greek Time. 

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2394 days ago

The wankers at Canaccord send pompous lawyers letter as it hides its shame on Quindell

When Canaccord was ramping Quindell with its crap research notes it was happy for them to be plastered all over the internet. It fired analyst Kevin Ashton who wanted to say sell and ignored his dossier on crimes at Quenron as it just wanted to earn vast fees and commission for acting for Quenron or raising cash for it. How times have changed.

It seems that Canaccord does not want folks

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2396 days ago

Quindell "one of the most interesting tech plays of 2014" claims its PR bimbos - will Rob Terry chicken out on Thursday?

Redleaf Polhill, the PR firm for the fraud Quindell (QPP) is holding its "tech showcase 2014" next Thursday in the City with five of what it terms "the most interesting plays" presenting. And yes, you have guessed it! One of those interesting plays is Quenron. I am almost tempted to delay my Greek trip by 48 hours to go along for the free booze, canapes, coke, hookers and the chance to hear Rob Terry present and field some questions.

But I have a sneaking feeling that Rob might not be there either because he has quit, because Quenron has collapsed or beacause he just could not face the humiliation and ridicule. I am also not entirely certain that given the active complicity of Readleaf in a smear campaign against me, that the unprincipled crony capitalist PR bimbos would even allow me to attend. Presumably they would argue that it is just for "proper" investors like Tom Dobell at M&G or for thick as shit journalists like Harriet Denys who wont ask tough questions.

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2396 days ago

Quindell - can it be saved like The Innovation Group? A Bearcast Special with Tom Winnifrith

The default position of Quindell (QPP) bulls is that in a worst case scenario it can be saved as was the Innovation Group (TIG) when the fraudster Rob Terry exits stage left. They might not get all their cash back but they would not lose everything. In this podcast, I examine this proposition and conclude that it is rather different this tme and hence why 0p is the only end game for Quenron. 

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2396 days ago

Tom Winnifrith BearCast Special on Quindell (Fidelity Blinks), IGAS and its Scumbag Nomad Jefferies

Fidelity is dumping its shares in Quenron (QPP) and I explain what this means. Jefferies is defending IGAS (IGAS) by doing nothing and I explian why it is so foolish to do so. This will explode in the face of IGAS and its piss poor Nomad. A quick ten minute blast - no holds barred stuff.

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2396 days ago

Rob Terry you criminal low-life you have a margin call – Quindell must make a statement NOW

Fair dues to Ron Duncan at Cloudbuy (CBUY) – he has done a similar deal to the Quindell fraudsters with Equities First Holdings LLC claiming to buy shares when he has in fact sold. But in his statement this morning he has at least fessed up to what price his margin call will be at. Rob Terry and his fellow fraudsters at Quenron have not done this but I can tell you it is c69p. And so with the shares having touched 67p earlier Rob just got a phone call… welcome to Rob Terry...who wants to be a millionaire.

Hello is that Mr Terry, Rob Terry?
Yes it is I, Mr 2+2 can = 5 speaking
It is Equities First Holdings LLC here and I am sorry to say but you now have a margin call do you want to

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2396 days ago

Open Letter: Dear Cenkos – A statement needed NOW regarding your fraudulent client Quindell

I have this morning tried to shake off the most almighty of hangovers caused by the Quenron (QPP) celebrations of last night, by penning an open letter to Cenkos, Nomad ((pro tem) to the fraud Quindell. Cenkos needs to force Quindell to make a statement now regarding margin calls that Rob Terry, Larry Moorse and Steve Scott must be facing.

Their loan agreements with Equities First Holdings LLC which allowed them to dump vast amounts of shares pretending that they were buying have a default clause agreement which means that if the Quenron share price falls below a certain point the three crooks, I mean directors, must either default, hand over more shares to Equities First or hand over cash.  I am sure that they will go for option two (handing over more worthless shares) which Equities First will then dump. But investors need to know this information and need to know now. Hence the letter to Cenkos which natch I have cc’d in to AIM Regulation and the market abuse team at the FCA. It reads.

Dear Sirs.

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2396 days ago

Tom Winnifrith's BearCast 10th November

Not yet off his face celebrating vindication on Quindell, Tom Winnifrith outlines further thoughts on Quenron itself but also loks at the whole issue of what really makes for balance sheet backing. In that vein he looks at Serco ( warning today). He then looks at the other stocks caught up in the Equities First Holdings LLC scandal, notably IGAS (IGAS) and also comments on Weatherley International, Northern Petroleum and Verdes Asset Management

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2398 days ago

Steve Scott’s Quindell Share Sales – the Game is Up for Quindell

The Daily Mail applied the coup de Grace for Quindell (QPP) last night with revelations about share sales by Steve Scott, Rob Terry’s second oldest business associate (after Mr Sadiq of Cosy/Himex infamy) and a Quenron NED. This really is devastating.

Last Wednesday it was announced that Scott as well as Terry and his FD Larry Moorse had bought shares. By Friday it was clear that in fact the “loan arrangement” with Equities First Holdings was in fact a mechanism whereby the three amigos sold shares at 80% of their market price to Equities First and merely had an option to buy back the same number of shares in two years’ time. We do not know how many shares the three men have sold but it is at least enough to fund the purchases, the suspicion is that it will be far more, in other words this is a way of them getting cash out while hoodwinking investors that they were actually buying shares.

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2398 days ago

The Quindell Equities First Scandal – will IGas be the first Domino to topple?

Quenron (QPP) is not the first company to do business with Equities First Holdings LLC – step forward IGAS Energy (IGAS) which for reasons I shall explain below may well be the first domino to topple in what is brewing up as a mammoth scandal. 

On 16th January 2014 IGAS issued a release “Director share purchase”

IGas, one of the leading producers of onshore hydrocarbons in the UK, has received notification that the Chief Executive Officer, Andrew Austin, has purchased 300,000 ordinary shares in the Company ("Ordinary Shares") at a price of 135.38p pence each. 

To fund the acquisition of shares Andrew Austin has entered into a loan facility, and has transferred up to 7.5 million shares as security.  Andrew Austin is required to redeem the shares at maturity when the loan is repaid at the end of the three year term and it is his full intention to do so.  Under the terms of the facility the lender is contractually prohibited from short selling or voting the shares during the term of the loan.  The loan facility has been arranged by Meridian Equity Partners and the funding provided by Equities First Holdings, a securities-based capital provider for institutional and individual clients. 

Following this purchase, Andrew Austin is interested in 10,967,075 Ordinary Shares representing 5.41 per cent of the issued ordinary share capital of the Company.  The total issued share capital of the Company comprises 202,633,228 ordinary shares of 10 pence each.

Ends.


As has now been established elsewhere by “transferred” Mr Austin actually means “sold” – that is to say the shares were moved into the hands of Equities First and title passed to the yanks.

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2398 days ago

Tom Winnifrith: BearCast Special - Equities First - the lies of Rob Terry, Quindell & Cenkos - D-day for all 3 looms

Lets nail this once and for all. The RNS put out by Quindell (QPP) on 5 November 2014 suggesting that Rob Terry had increased his holding in Quindell (QPP) was a lie. Cenkos signed off on that as Nomad. Cenkos issued a note on Friday 7 November 2014 and was lied to by Quindell. I demonstrate why Quindell is lying and explain how Equities First Holdings LLC works. I cite sources which are refered to below. Cenkos needs to come clean on Monday or it is royally in the merde alongside Quenron

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2398 days ago

BearCast Special - The History of The Innovation Group (Quindell Mark 1)

In response to a request from a number of readers I outline a history of The Innovation Group 2001-2003 which was run by Quindell (QPP) players Rob Terry and Steve Scott. If this is not a lesson for all Quenron shareholders on what will happen next, nothing is. 

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2398 days ago

Financial Video #58 - Rob Terry is a liar, a conman and a fraud please please sue me for libel edition

Quite simply Robert Terry and Quindell (QPP) have lied to investors engaged in securities and accounting fraud and so Mr Terry is a con man. He has let it be known to the morons that he is going to sue Tom Winnifrith for libel. Tom says "Go ahead, make my day bitchez." He explains why thje fraudster Rob Terry  is acting in this way and the various other empty threats he will employ as he tries to flog as many shares as he can before Quenron goes tits up. The Sheriff of AIM is not flinching.

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2398 days ago

Tom Winnifrith's Saturday BearCast 8 November

A few interweb problems here in Eire, so I have nipped up to Darina Allen's Ballymaloe house to book supper for tonight - a mega culinary treat for the Mrs and myself and to upload another hard hitting recording. On the agenda is Quindell and how soon its shares could be suspended for the Equities First Holdings LLC farce. Also a discussion of the whole issue of suspension and where the AIM casino will go post this scandal. There are some hard questions here for many. Then I also look at African Minerals (target price 0p).

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2398 days ago

IQE, IGas caught up in the Equity First/Quenron scandal – best to stand aside for now

By next week it is more than likely that Quindell (QPP) shares will be suspended as the Equities First Scandal reaches boiling point as I explain again in today’s BearCast. That begs questions about IQE and IGas.

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2403 days ago

Tom Winnifrith's bonus BearCast as Rob Terry forced to quit - what next for Quenron

"Bulletin Board Morons, Cenkos Securities, Steamy & the QPPSAG, Zak Mir at t1psTV, Alan Green, Redleaf PR we have beaten them all, we have beaten them all. Rob Terry, can you hear me? Rob Terry your boys took a hell of a beating! Your boys took a hell of a beating!” And so today’s BearCast special begins. Rob Terry has been forced to quit Quindell but has he really left – what next for this company which is a fraud…

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2404 days ago

Tom Winnifrith's BearCast 17 November, the coke, champagne and hookers are on ice edition

Tonight we party. I am a very happy bear. The Real Man Christmas party is now a V Party. that is V for Victory and V for Vindication. Quenron (QPP) is on the ropes. In today's podcast I cover Quindell, President Petroleum, Tern and my old "mate" Angus Forrest, Camkids and China frauds, Cenkos, Forte Energy, mining juniors and more.

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2405 days ago

Quindell, tax, fraud & Sam Antar (my hero) - Tom Winnifrith BearCast special

In this podcast I explain why companies that engage in fraud are happy to pay tax from the reporting of bogus profits. It sounds insane but that is the way frauds operate. My hero Sam Antar of Crazy Eddies infamy explians it suoerbly on his website and I discuss both Sam and also Quenron and what is going on here. I also try to explain how tax losses are used and applicable and will not be there to save Quindell

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2406 days ago

The Equities First Scandal - Its going to get worse, heads will roll - Tom Winnifrith BearCast Special

The AIM Casino scandal involving Equities First Holdings LLC is going to get an awful lot worse. Heads will roll with Optimal Payments (OPAY) and IGAS (IGAS) firmly in the firing line but directors at Cloudbuy (CBUY), IQE (IQE), Angle (AGL) and ,of course, Quenron (QPP) also exposed. For the latter, at least, this is probably not their greatest concern. The sad truth is that none of the six have said enough and ALL need to clarify the clarification statements. Until they do all six firms are uninvestable. This and specific crmes are examined in this podcast special.

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2406 days ago

Tom Winnifrith BearCast Special - Himex the biggest fraud within Quindell

The most fraudulent acquisition made by Quenron (QPP) was that of Himex. It really is a worthless POS but has been used to boost profits and cashflows at Quindell simply via fraud. However it will start to unravel by New Year's day and this podcast explains why. DCD Holdings, Rob Terry, Hassan Sadiq and Elizabeth Dawson are you listening to this Cosy (pun, geddit?) little message from the Sheriff of AIM?

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2407 days ago

Tom Winnifrith's BearCast 14th November

Its back to the regular BearCast now although I suggest that you all listen to my Quindell, how grim is the cash position special HERE from a couple of hours ago. In this edition I look at the ongoing Equities First Holdings LLC scandal rocking the AIM Casino, IGAS, Optimal Payments and of course Quenron. I then look at old favourite CPP, Cyprotex and Reach4E. I will have a look at Concha over the weekend, apologies on that one I forgot to "deal with it" today.

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2415 days ago

Dear AIM Regulation...as per our Quindell Conversation earlier (a BearCast Special)

I enjoyed another good chat with my pals at AIM Regulation today regarding Quenron (QPP). I know they enjoyed the earlier explosive Bearcast on Quindell and so for them and for the FCA here is a little recap of what we discussed. Dear AIM Regulation, I remain your obedient servant, Tom Winnifrith, The Sheriff of AIM.

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2415 days ago

Quenron Caption Contest – The Three stooges Issue

As they discuss how all their shares are about to be flogged to Bulletin Board Morons who reckon they are buying we bring you an exclusive shot from the Quindell boardroom of Rob, Steve and Larry in action. With a deadline of Friday midnight how about you suggest a suitable caption for the picture below. For what it is worth:

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2415 days ago

Tom Winnifrith's BearCast 6 November

I commend you al to listen to my earlier BearCast special on Quindell the truth about yesterday's announcement - HERE. Thanks for all the kind words about it.  Moving on I discuss cash or lack of it, NPV and why that is all that matters. En passant I cover Globo, Monitise and blinkx but then move on in real detail to Corero and in less detail to Sweet and Sefton.

To hear more from me about the Quenron End game and for free pizza and champagne book in for Monday's seminar - details HERE

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2415 days ago

Bonus Presentation Monday – Madagascar Oil as well as Quindell end game & Champagne

Monday’s free pizza and booze seminar at Real Man is looking like a celebration day and so thanks to the sponsorship of Chapel Down, the producers of the absolutely fabulous English (better than your Froggy muck) champers there is a glass of fizz for each attendee as we raise a loyal toast to Rob Terry for providing us all with such entertainment.

I shall be talking about Quenron the End game – something that is moving closer at a rate of knots. But as a new bonus we now have as well as MX Oil, Interquest and Obtala Resources a presentation by Madagascar Oil – a stock I really like. To grab your seat – there are a few of 50 left - just email your name and address now to [email protected]

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2415 days ago

Rob Terry & Wormwood Scrubs Caption Contest – winners announced

In light of today's shock revelations about the biggest Quenron con yet plus the Securities fraud (HERE) and accounting fraud (HERE) it is a good day to announce the winners of the Rob Terry & Wormwood Scrubs caption contest from Saturday. The standard of entries was high and I had a good chuckle reviewing them all just now as you can do HERE. But the three best were:

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2415 days ago

Rob Terry invests not a cent to buy a million Quindell shares – what bollocks

Quindell (QPP) bulls have today celebrated the news that chief fraudster Robert Terry and sidekicks Laurence Moorse and Steve Scott have bought 1.575 million Quenron shares at c123p. However they rather miss the point that the trio have not actually risked a cent of their own cash. This is the latest smokescreen and is such a curious transaction it only makes the sell case even stronger. Within the stock puffed up to 133p on the back of this nonsense it is another chance for the bears. 

The deal Terry (who is buying 1 million shares) has arranged is that the cash for the trade is provided by Equities First Holdings LLC,

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2415 days ago

Quindell does not realise that its defence blog against me is now a key part of the prosecution case

Quenron sent its first lawyers letter demanding a grovelling apology signed by me but written by the fraudsters, a promise never to write about it again and a retraction of all my articles on 19 August.  As you may have noticed, I have told Quindell where to stick that letter and I want it to serve Court papers on me as that will start the process of disclosure. As of today, after two and a half months no papers have been served despite me upping the ante with specific allegations backed by proven factual evidence of both accounting and securities fraud.  Quindell really does not want disclosure to get underway does it. Shall I give you an example of why?

Having established that the 18 million shares it issued on 2 September 2013 were not issued to who Rob Terry said they had been issued to and that he lied about why the shares should have been issued at all as he engaged in securities fraud, would Mr 2+2 can =5 like to reveal a few details about the c 9 million shares issued by Quenron in October 2013?

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2418 days ago

Fraudbuster John Hempton of Bronte has words of encouragement for Quindell Morons as he warns target price is 0p

As the stench of death gets ever more ghastly at Quenron (QPP) it seems that every new day this corpse in waiting attracts the attention of a new celebrity bear raider. A couple of weeks ago Muddy Waters chipped in. Today it is the legendary John Hempton of Bronte Capital who has been tweeting words of “encouragement” to the morons. That is before he warns that the shares are going to 0p.

He starts with:

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2418 days ago

Tom Winnifrith's BearCast 3rd November - the Sefton lessons for Sefton, Quindell and others edition

Shares in Sefton Resources (SER) are among the big fallers today- nowat 0.11p vs 2.5p when i started attacking this fraud more than two years ago.  There are some lessons from that "campaign" for shareholders in the fraud that is Quindell. But there are wider lessons brought home by today's latest catastrophic news, viz the reality of real asset backing and the failure of auditors. I also cover Quenron and its share price and the  turn my fire on Touchstone Gold - a crony capitalist pointless POS vehicle, before discussing Globo and why its shares are so grossly overvalued -a point made in more genteel terms by Steve Moore earlier today HERE

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2418 days ago

Quindell Bulletin Board/Twitter Moron of the Week 3 – A winner is announced

The standard of entries in last week’s Quenron (QPP) Bulletin Board/Twitter moron competition was staggeringly high. There are some incredibly stupid folks out there on this shareholder list. If we add in the classic entries from week one (HERE) and week two (HERE) we are half way to a nice little Christmas stocking filler book “In their own words, the dumbest people ever to buy shares” The full list of entries in week three was glorious but the top four are, IMHO:

For sheer malice and nastiness:

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2418 days ago

Follow Quindell Director Robert Bright – you are ‘avin a bubble – with Paul Scott comment

To great excitement another Quenron (QPP) director stepped up to the plate and bought shares on Friday – Robert Bright snapped up 100,000 shares. Well done Bob, in the context of your wealth…this means jackshit.

Bob’s trading record in Quenron is not that hot. This purchase was at 131.5p. The last one was at 300p and the one before that was at c250p. So anyone following the purchases is not exactly quids in. Bright has made a fortune in a 35 year City career at HSBC and elsewhere and so his £40,000 NED salary at Quenron is chickenfeed as is his total holding of 225,040 shares.

If the Quenron board really believed that on a forecast 2015 PE of 1.3 this stock was cheap, that it was worth £3.5 billion as fraudster Rob Terry claims it would collectively be buying of millions of shares. And it would not do so at one director a day just to generate PR it would all have ploughed in after the most recent (laughable) trading statement. This is all PR hogwash. At this point I hand over to a post I noticed by the UK’s top share blogger Paul Scott:

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2418 days ago

Saturday caption Contest – Rob Terry of Quindell Edition

In light of today’s damming podcast showing that Rob Terry has committed securities fraud, the caption contest today is in honour of the Quenron (QPP) founder, Mr 2+2 can = 5 himself. 

The picture is of Wormwood scrubs and we invite you to post your suitable captions in the comments section below with a deadline of midnight Sunday. 

For what it is worth my entry is:

 “On arrival at his new Country Club, Rob Terry explains to his guards that he got 2 years for accounting fraud and 2 years for securities fraud but that 2+2 can = 3

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2418 days ago

Tom Winnifrith Podcast special - The Securities Fraud committed by Rob Terry, Laurence Moorse and Quindell explained

This should be explicit enough for all concerned. AIM Regulation IS investigating and I expect the FCA andSerious Fraud Office to be on the case too. I explain clearly how Quenron (QPP) and its bosses Laurence Moorse and Rob Terry have committed securities ( as well as accounting) fraud. If they disagree sue me and I shall see the bitchez in Court. But I rather think that Terry et al are going to end up in a rather different Court anyway. For a change, might Bulletin Board Morons rather than attacking me just try to show any factual errors in this damning expose.

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2418 days ago

The End game for Quindell

First the good news. At the 10th November ShareProphets Seminar I shall present on “The end game for Quindell: when and why it will go to 0p” – there are a number of scenarios so it is a when not an if and I shall explain them all in detail. If Quenron goes to 0p before then – which is conceivable – I shall do a song and dance routine instead.

To book your seats for this talk plus free pizza plus talks by Obtala, Interquest and MX Oil just email your name and address to [email protected] – places are limited to 50.

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2419 days ago

Join ShareProphets in our campaign to get LSE Bulletin Board Asylum to unban deluded Ramper QPP1000

Dreadful news for followers of the Quenron (QPP) saga – the LSE asylum has banned the most deluded ramper of all time QPP1000 from posting on its boards. We have begged the LSE to reconsider and allow this most entertaining of total nutters back in the interests both of free speech but also for sheer entertainment value.  We ask al ShareProphets readers to join us in our campaign to get QPP1000 unbanned. After all, who could forget such gems as:

The fact is – we cannot beat them at their own game because they will always be able to print more money than we can so that their central bank can make more dodgy loans to banks and hedge funds who then set about trying to ruin competitor companies on behalf of their masters. It’s called “ Superior Economic Growth Model “ don’t you know ? Cheers,

Or 

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2420 days ago

Correction: I did not murder Quindell Non Exec Tony Bowers, the shocking CV of his replacement revealed

Version 2 with one correction: Yesterday afternoon Quenron (QPP) announced that its non-executive Deputy Chairman Tony Bowers had passed away. It did not take long for a Bulletin Board Moron to accuse me and others of murder. On the ADVFN board J777J posted:  “Was this stress related and therefore the shorts have blood on their hands?”. Whatever… Here’s what I think of Bowers and a shocking fact about his successor.

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2422 days ago

Tom Winnifrith's BearCast (with a sore head) - 28 October

I blame Amanda van Dyke and Real Man manager Maribelle for leading me badly astray last night and I am not at my sharpest. Struggling on, today's bearcast covers Concha, Castleton, Verdes Asset management, Quenron, AIM Regulaton and the FCA.

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2422 days ago

Semi naked Quindell shareholder and contractor Kate Caption Contest

One of the more surprising tweets I received last week was from a lady in the grim north called Kate  (@modelsforkate) who had for some time been a self-confessed Quindell (QPP) shareholder and did not like what I was writing so took nearly all her clothes off in protest and send out a tweet inviting me to “kiss her ass”. Whatever. It has subsequently emerged that Kate’s enthusiasm for Quenron might be influenced by the fact that she earns fat fees sending clients to its ambulance chasing whiplash and industrial deafness centres. But let’s still give Kate a platform. As such I bring you her selfie and invite you to post suitable captions below. Deadline midnight tonight?

For what it is worth my entries are:

“facing yet another margin call one Quenron shareholder is forced to pawn her entire wardrobe”

Or

“How do you like my new clothes, this is the ball dress and is called the 2+2 can =5 empress range”

Or

“One of the better lookers of the thousands of folk who have been screwed by Rob Terry”

Over to you, let rip in the comments section below.

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2422 days ago

Quindell Bulletin Board/twitter Moron Week 2 – winner announced & I do not eat children

Again what a cracking week have enjoyed from the Quenron (QPP) owning morons who post on Bulletin boards or tweet.  The sheer stupidity of these fools defies belief and you cannot help but laugh as you read their deranged thoughts, interspersed with a few posts from our own home grown prize loon Kebab/Kulbas/KB.  You can read the full list of fantastic entries HERE

But there has to be a winner. I greatly enjoyed the various entrants from folks alerting us to posters who think that I am a CIA agent, Real Man is a sole trading Indian takeaway, that I changed my name by deed pool from Cochrane, etc. But my paymasters at Mossad insist that I keep that smokescreen going.

DiscoStu almost won with:

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2422 days ago

Weekend Caption Contest - Quindell QPPSAG Emergency Summit Edition

As the QPPSAG gathers for an emergency meeting this weekend to discuss whether shares in Quenron (QPP) will hit £3 by Christmas or make it to £5, we have managed to get a picture of group leader Steamy and one of his loyal followers on the way to the summit. we ask you to suggest a suitable caption by midnight on Sunday.

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2422 days ago

Tom Winnifrith Podcast - the 7 reasons why Quindell shares should be suspended on Monday

There are numerous reasons why the fraud that is Quenron should be booted off the AIM Casino altogether but recent developments would force a responsible regulator and a Nomad who gave a dam (so maybe that does not apply to Cenkos) to suspend the shares first thing on Monday.

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2422 days ago

Quindell & the Himex shares – something looks very fishy indeed here

The Quenron (QPP) shareholder register as at 30th June has thrown up another couple of stinking fish carcasses. They concern Himex.

Point one is the complete absence on the register of Mr Sadiq – the founder – and his Mrs, Elizabeth Dawson. They picked up 7.33 million shares in February between them but I cannot find their names at all. Perhaps I am missing something. Of course they are largely locked in but at Quenron that means nothing and I now have it double sourced that both Sadiq and Dawson have sold heavily and in beach of lock-in. Perhaps Quenron might care to comment?

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2422 days ago

Mobile Doctors worth £140 million – Quindell ‘avin a bubble part 2

I explained yesterday why Rob Terry of Quenron (QPP) was telling a total lie when saying that his Mobile Doctor’s operation is worth £140 million – as you can see HERE. Certain Bulletin Board Morons have offered Mr 2+2 can = 5 a “Get out of Jail card” on this one but let me explain why they are wrong and why Rob is still lying. 

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2422 days ago

Quindell, why its going bust, when its going bust and is there any escape - BearCast special

All frauds eventually run out of other people's money and so it will be with Quenron (QPP). For it is a fraud as I explained in full detail in this video. So when will Quindell go tits up?

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2422 days ago

Paul Scott gives a tits up date for Quindell

As you know I regard Paul Scott as the UK’s top share blogger. Not only is his analysis top notch but his turn of phrase is excellent. And he’s a nice guy as a bonus.  As such I bring you a short post he made earlier on Quenron (QPP) and its joke interview with Shares Magazine. Top stuff Paul!

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2429 days ago

Quindell’s Rob Terry tells a £140 million Lie to Shares Magazine – Mobile Doctors Red Flag Strewn Annual Report Out

Rob Terry of Quenron (QPP) is today once again exposed as a liar of monumental proportions. Even the money-grabbing leeches round at Nomad Cenkos should by now be considering their position as I expose today’s £140 million lie told by Mr 2+2 can = 5.

Shares Magazine promised its readers a hard hitting interview. Bollocks! This is a blow job on paper. No questions about TMC, Himex and the accounting fraud. None about the RNS lies. This is cock-sucking journalism, an embarrassment to our trade.  But the gem is a lie that Mr Terry tells unchallenged about his cash position. Let me quote from Shares magazine: 

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2429 days ago

Quindell – Let’s Put the Canadian Telematics lies into context

Quenron (QPP) earlier this week announced a telematics deal with one of the top three insurance companies in Canada. Of course that was a lie. Quindell has told lies in RNS statements on a serial basis so that is no shock. The partner is Aviva Canada which is in fact the 15th largest insurance company in Canada. It is the third largest player In the Property & Casualty sub sector but what Quenron said in the RNS was just another lie.

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2430 days ago

Quenron – Another Hot Air RNS - this time in Canada

Quindell (QPP) has announced what it believes to be a major deal. Oddly certain Bulletin board morons who have in the past been leaked confidential lawyer’s letters by Quenron have been pre-announcing this for days making a mockery of AIM rules re the release of supposedly price sensitive information. But that is the least of Quindell’s crimes.

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2430 days ago

Monday's Global Shorting Conspiracy Prize caption Contest

Following the shock revelation on the LSE Bulletin Board asylum that my writings were driven by the fact that I was employed by the CIA which is in charge of the global shorting conspiracy against Quenron (QPP), I have a new caption contest for you. All you have to do is provide a caption for the image below, explaining in the style of an LSE posting Quindell moron how this fits into the global conspiracy which, alone, is causing Quindell shares to slide. Easy. A bottle of wine goes to the best entry received by midnight tonight.

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2430 days ago

BearCast 18 October - Financial Crime on AIM, Tom Winnifrith reports himself to the FCA for market abuse on Quindell

An unusual bonus podcast from me today. In this bearcast I discuss the whole issue of lies and financial crime on the AIM Casino but also the abject failure of AIM Regulation and I will tomorrow be asking the FCA to formally investigate me for market abuse on Quindell. I hope that Rob Terry will also ask the FCA to investigate me.

The nuts and bolts are in today's shock Video HERE. Either I am making it up and am thus guilty of market abuse. Or it is true in which case Rob Terry and Quindell are guilty of wholesale lying and accounting fraud. The facts back me up. And so that is why I want the FCA to investigate me formally for market abuse. If it finds me not guilty as it will then it has no choice but to act against Quenron. As such I say bring it on. I want the formal investigation and I challenge Rob Terry to ask the FCA to conduct such an enquiry.

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2430 days ago

Quindell and the Claimed Customers that er….are not

Oh dear, even the Insurance Times now scents blood and this week started investigating some of the companies that Quindell (QPP) claims to do business with. No doubt the Insurance Times will be viewd by the Bulletin Board Morons as part of the global shorting conspiracy run by pizza hard man Darren Atwater from Clerkenwell.

Quenron claims to do business with 1000 insurance companies some of them big names. But it appears that some do not actually do business with it any more whilst in other cases the actual business done is trivial. Most appear to be genuine customers but surely Quindell would never over-egg the pudding would it?

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2430 days ago

Tom Winnifrith’s BearCast 17th October

Where is that dam Quindell (QPP) video? I am really getting pissed off now, I was promised it last night and it has still not arrived. Fingers crossed. Meanwhile the podcast is back on an up day for the markets – an opportunity to offload duff stocks in my view. This bearcast covers:

Naibu, Netplay, Rolls Royce, Spectra, Sovereign Mines of Africa, Northern Petroleum and Quenron. I make general points about non UK stocks listed here, investing in stocks with no barriers to entry versus Buffett plays and about lobster pots.

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2430 days ago

Reader Post of the day 2 – The Most Excellent 42 on the Quindell Cash Crisis

Quindell (QPP) faces a cash crisis which is forcing it to resort to quite desperate measures as I outlined HERE and HERE earlier today. Its position is dire. And now our most excellent poster has weighed in with this critical note. As you await for tomorrow’s big daddy video which explains why Quenron has committed accounting fraud, has never generated cash and is worth 0p I bring you the awesome 42 with his latest offering.

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2430 days ago

The Bears Scent Death at Quindell – King of the US Bears Muddy Waters weighs in

Quindell (QPP) took on the bears and Quenron is losing. I first cited red flags about this fraud in April 2013. A year later Gotham City Research took it apart and now the shorters are upping the ante. The smell of Death is clear and now the best known US Bear Muddy Waters has also chipped in via twitter.

 
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2430 days ago

Reader Comment of the day: TurboMuncher on the Quindell cash Crisis

It is abundantly clear that Quenron (QPP) now faces a cash crisis of monumental proportions. I am sure that the FCA is now monitoring its Regulatory capital position with extreme concern. And if you want to know what happens when this becomes an issue have a look at Daniel Stewart HERE. I flagged up earlier today, one way in which Quenron is hiding this time bomb from investors – by delaying salary payments HERE – but the other obvious way is by not paying its bills, something you would not be able to gauge from the cobblers in its trading statement of Monday. But poster TurboMubcher has the data and puts it into context for you in an excellent post:

Do I get a thumbs up for the Dun & Bradstreet lead, T-Dubya?!  ;)

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2430 days ago

Quindell – it needs to come clear on the paydate change & how it affects cash claims

Hapless lapdog broker to Quenron (QPP), Cenkos has admitted that its client has “streamlined” its payroll procedures, Quindell has not clarified what occurred but in light of its claims about its cash position it needs to do so fast.

Quindell claims that net cash was pretty much unchanged between end June and end September at £19.7 million. However it claimed in August when publishing its interims that net cash had increased in July which means that it fell in August and September despite the company netting a windfall of up to £10 million from flogging shares that it had issued to itself when buying PT Healthcare.

I put it to you that the underlying cash position is grim, may well because Reg cap if not operational issues and that trends in recent months are adverse. The Reg cap issue is – I am sure – being monitored closely by the FCA.

However we now come to the issue of when staff are paid.

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2430 days ago

Quindell Morons of the Day Special – LSE Board

The slump in the Quenron (QPP) share price following yesterday’s disastrous trading statement has brought the Bulletin Board morons out in force. I spent a happy half hour last night having a butcher’s at the LSE Board. I felt rather like one of those Victorians who used to head down to the asylum to gaze at the lunatics in action. I know it’s a bit voyeuristic but just now and again it is entertaining to see these loons in action.

First up is jub_ahmed2002 with this little gem:

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2430 days ago

Tom Winnifrith’s BearCast October 14 – Quindell and much more

The morning after the night before.  That is to say my presentation yesterday on why Quenron (QPP) is worth 0p a share. The full video of that will go live within 36 hours ( as will the 3 PLC presentations) and I discuss a bit of this and other Quinnovation Group matters in this podcast. But there is more, much more.

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2431 days ago

Quindell Red Flags on Overload as Maine Finance Ltd files its annual report

This came onto my desk yesterday and is a true horror story (unless you are a bear).  Of all of the stinking Quenron subsidiary accounts to emerge so far this is arguably the one that stinks the most. But I still have plenty more to go through so I will not award the “stinkiest Quenron subsidiary accounts 2013” title just yet. I covered the POS that is Maine Finance Ltd in a preliminary way yesterday night in a 40 minute presentation showing clearly that Quindell was a fraud and worth 0p. The video of that talk and accompanying slides will go live within 36 hours and the 2 PLC FDs in the room were horrified by what they heard. But back to Maine Finance Limited.

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2431 days ago

Gotham City Breaks Cover – says 45p target too high, Quindell behaving as if on verge of bankruptcy

Valiant corporate crusaders, brave seekers of truth and scourge of whitecollar crime, Gotham City has broken cover after months of silence. In the wake of Quenron’s (QPP) disastrous trading statement released today and Gotham does it mince its words. It has just posted two tweets in the past 90 minutes which read:

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2431 days ago

Quindell Trading Statement – Folks are starting to see what Bullshit it all is

Quite simply I have never read such complete and utter bollocks in my life. As I write Quenron (QPP) shares are down by a couple of pence at 151p. That is despite it issuing a trading statement which was meant to appear extraordinarily upbeat. In the old days the stock would have jumped by 20% on this sort of bull. But these days investors seem to be waking up to the fact that it does not add up, that the company is talking patent bollocks and that the cash situation is clearly critical. Chuck in the Red Flags from subsidiary accounts which are landing thick and fast and this one is now in a a rapid spiral towards death.

And so what crap is talked in the statement? Where does one start? At the top my friends.

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2431 days ago

Tom Winnifrith’s BearCast – 13th October

The FTSE 100 is not plunging. But it will be coming off and some individual company share moves tell you an awful lot about the state of the stockmarket and I am not only talking about Quenron (QPP) which of course gets a good mention in today’s podcast.

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2431 days ago

Quindell Bulletin Board Moron of the Day: Mr Palmer LSE Board – his “obligation” is to destroy me”

Oh dear, The Quenron (QPP) shareholder list does contain more than its fair share of complete and utter nutters. On an almost daily basis I am alerted to a post which has been made by someone who really is truly bonkers. I was entertained to see some cretin on ADVFN discuss the “TW Red Flags” on Quenron – apparently having a strong opinion which is not buy is deemed a Red Flag.  However, The Bulletin Board Moron of the Day is “Mr Palmer” on the LSE Board. On a day when another Quindell nutter who boasted on twitter of having a "hitlist" which included myself and Dan Levi has been reported to the Old Bill (not by me as I regard the Met as useless), Mr Palmer takes centre stage.

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2431 days ago

Reader Post of the Day - 42 on the Quindell Trading Statement

I know who poster 42 is and he knows more about Quenron (QPP) than any analyst currently covering the stock in the City. His comment on the trading statement today is bang on the money (or rather lack of it). I shall post my own thoughts later once I have gone through a couple more bogus subsidiary accounts. 42 writes:

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2431 days ago

But KPMG signed off on it so that’s alright surely. NO!

I am told that the accounts of Quenron (QPP) must be kosher because the global accounting giant KPMG has signed off on them. KPMG knows all about accounting and I am just a failed fund manager/pizza delivery guy/blogger so clearly know nothing.  Hmmmmm, I fear that some folks are in for a rude awakening.

My first point is that the Southampton Office of KPMG is clearly not staffed by the brightest cookies in the jar. I imagine that up in London they are acutely embarrassed

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2431 days ago

Quindell Legal Services – More Red Flags Vicar? Part 1

And so Quindell Legal Services, the biggest part of the Quenron Group (QPP) has filed its accounts. Also of interest is the fact that it filed two annual returns for last year. Would Quindell care to deny that it had a spot of bother with its capital adequacy forms filled in with the FCA? That might explain a few of the red flags but not all.

The first thing to note is that Companies House stamps the accounts for calendar 2013 as received on October 1st. that is a £150 fine for Quenron. It is small beer although it is good that someone is making money from the company. But it is indicative of a badly run enterprise.

I note also that KPMG – which earned £60,000 for compiling this document that contradicts itself – did not actually attach a signature to its sign off.

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2431 days ago

Quindell & Compass Costs: the numbers do not add up and this stinks: the worst filing yet – FCA problems now looming?

The Quenron (QPP) subsidiary accounts are now landing thick and fast at Companies House and I am ploughing through them but have unearthed the stinkiest yet – Compass Costs. The numbers stated are different in different places, there is revenue missing and there is a curious dividend paid. It stinks to high heaven and since Compass is part of an FCA regulated entity (Quindell Legal Services of which more later) this is certain to attract FCA attention.

Compass Costs was, according to the Quenron RNS, bought on April 2 2013 and is “one of the UK's leading legal costs consultancy and costs drafting firms.” The consideration was 80 million shares which according to Quenron was worth £14 million since the agreed price per share was 17.5p. This was, of course, bollocks as the share price then was 8.7p so the real price paid was £7 million. But remember those two numbers 14 and 7. 

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2431 days ago

Reader Comment of the Week – Once again it is Forty Two on Quindell

Some of our posters really know their onions. I know full well who “Forty Two” is and he knows Quenron (QPP) better than any serving City analyst. His comments after the Friday Ingenie shocker HERE should be read in conjunction with that piece to gain an understanding of how The Quinnovation Group operates. 42 says:

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2431 days ago

Quindell – Ingenie (abbreviated) accounts filed: what is Quenron trying to hide now?

Quindell subsidiary Ingenie Ltd (of Gary Lineker fame) has filed its calendar 2013 accounts at Companies House but this is a spectacular own goal as it has hidden the full ghastly truth from investors. In the words of Alan Hansen “shocking defending” by Rob Terry. 

In 2012 Ingenie used the same small firm of auditors as in 2013 to file its accounts HERE. It displayed a company and group P&L and Balance Sheet. For 2013 it has shown only a consolidated balance sheet – nothing else, claiming a small company exemption. 

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2433 days ago

Dear FCA: please investigate whether I committed market abuse on 13th October regarding Quindell

This morning I have written to the FCA asking it to investigate whether the allegations I made on 13th October 2014 regarding Quindell PLC (QPP) constitute market abuse. The allegations are the most serious I can make, that Quenron has committed wholesale accounting fraud and has lied to investors via RNS.  If the allegations are not true I have committed market abuse. As it happens they are 100% verifiable and I have not seen one person show why they are not. That is because they are verifiably true. The video of my presentation making these allegations is HERE.  The letter to the FCA explains why I have made this request and reads: 

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2443 days ago

Daniel Stewart IPO Department – Caption Contest winner revealed

As ever there was no shortage of readers keen to stick the boot into near bankrupt crony capitalist AIM Casino advisor Daniel Stewart (DAN), the firm run by Peter Shea that made millions floating Quenron (QPP).  Earlier this week we revealed the shock picture of its IPO department headed by smooth talking Paul Shackleton and asked you for your captions. And the winner is:

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2443 days ago

Today’s Quenron Red Flag from Companies House - Quindell Resourcing

Aha, another one of the 191 Quenron (QPP) subsidiaries has published its accounts at Companies House, Quindell Resourcing Ltd, formerly known as Metaskil Ltd. And needless to say the numbers just do not add up.

But first – which Metaskil is this? Quenron bought Metaskil Group Limited on October 10 2012. It stared at the time:

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2443 days ago

Quindell Twitter Moron of the Week – Ron Clifton

As the Quenron (QPP) share price slips away losing more and more of the hard earned savings of the morons who have invested in this company which has demonstrably lied to its shareholders in a serial fashion, the morons response is sheer comedy genius. Today’s twitter moron of the week is Ron Clifton @CliftonPlace who is possibly the thickest of all the Quindell morons on twitter.

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2443 days ago

Daniel Stewart - not enough cash to keep the FCA onside but more than enough for champagne all round

You could not make this up, Daniel Stewart (DAN) the City Crony capitalists who make their cash from advising firms on the AIM Casino has today admitted that it is truly financially buggered but not so utterly buggered that it can’t afford lavish champagne receptions at Christmas. Having made millions floating Quenron (QPP) and the China frauds Naibu (NBU) and China Chaintek (CTEK) as well as raising cash for blue-chip Globo (GBO) this is a comedy that keeps on giving. 

In its statement today the Cesspit advisor ‘fessed up and admitted: 

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2446 days ago

Daniel Stewart shares still suspended – shock picture from its IPO Department Revealed: Another Caption Contest

Shares in Crony capitalist Nomad and broker Daniel Stewart (DAN) remain suspended on the AIM casino as the financially challenged enterprise has still failed to get its accounts signed off and published. While we wait we have managed to obtain an exclusive image of its IPO Department. This is the part of the firm that brought you winners like Quenron (QPP), Naibu (NBU) and China Chaintek (CTEK), made £1 million raising cash for Globo (GBO) but could not quite manage to float China fraud Fraspens in August. So what will be its next offering?  I ask you by midnight tonight to post a suitable caption below.

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2446 days ago

Sunday Caption Contest Daniel Stewart Edition – winner announced

Some sparkling entries in the Sunday caption contest which celebrated the financial woes of crony capitalist City advisor Daniel Stewart (DAN), the firm that coined it in floating Quenron (QPP), Naibu (NBU) and China Chaintek (CTEK). Lest we forget Daniel Cesspit has also made more than £1 million  in recent years raising money for Globo.  Double coke and hookers all round. You can see all the caption entries HERE but the winner is:

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2446 days ago

Reader Post of the Day: Level 42 on Quindell

Sometimes our reader comments merit a wider audience and knowing the identity of Level 42 and how well he knows Quindell, I bring you his little burst of insights on how Quenron operates. This was posted at the bottom of yesterday’s explosive revelations about 360GN HERE.  L42 writes: 

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2447 days ago

EXPLOSIVE: 360GlobalNet Accounts out – Quindell shown to have bought Shit Company, issued shares to itself & dumped them and lied to investors

At last the accounts of Quenron (QPP) subsidiaries are starting to emerge at Companies House and you can see why Rob Terry and his FD Laurence Moorse were so tardy in filing because they are a true can of worms. The first which has arrived is 360GlobalNet Ltd which is 60% owned by Quindell and this stinks to high heaven. Even the pathetic QPPSAG must surely now be hearing the alarming bells ringing? Or perhaps they all have Industrial deafness. 

By way of background reading for the Quenronologists the 2013 accounts for 360GlobalNet can be found HERE and the annual return (which lists shareholders) can be found HERE

The stated history according to Quindell is that it acquired a 3% stake at an unspecified time and increased that to 19%on 28th February 2012 at a price of £2.15 million (£900,000 in cash and the rest in shares). That was not actually strictly true as I explained HERE but let’s pretend it was and continue.

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2447 days ago

Sunday Caption Contest – Daniel Stewart Special (again)

Let’s face it the firm that floated Quenron (QPP), China Chainek (CTEK) and Naibu (NBU) deserves to go bust so we won’t be able to laugh at Daniel Stewart for that much longer given how its shares are suspended, it cannot get its own accounts signed off on time and is almost out of cash (see HERE). So let’s have fun while we can. With a deadline of midnight tonight lets have your captions for the picture below:

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2447 days ago

More Quindell Bollocks – Withyouin5 – all hype no trousers

Another Quindell (QPP) subsidiary has filed its accounts at Companies house. This is not a smoking gun (that’s coming later) but just a demonstration of why so much of the Quenron hype is all bollocks. Welcome to Withyouin5.com Ltd – which is 74% owned by 360GlobalNet Ltd which is itself 60% owned by Quenron.

If one reads the Quenron hype this thing is big. I refer you to the Q1 Trading statement dated 16 April 2014:

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2447 days ago

The first Quindell lie of the day exposed – Quindell Property Services

The annual reports have started to arrive at Companies House for Quenron subsidiaries and I have a stormer of a revelation for you later. Naughty naughty Rob Terry you will not enjoy that one. But as an appetiser and while Mr 2+2 can = 5 sweats on that one I thought I would just point out to you a blatant lie told by Rob Terry to investors which he has admitted to! I have only just noticed. Bad me.

Let me take you back to 2nd September 2013 when Quenron announced that it was issuing some shares relating to the deferred consideration of QPS. It stated:

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2447 days ago

Quindell’s RNS from 18 September 2012 – Quintica Red Flags

There is speculation that Quenron (QPP) subsidiary Quintica is horribly late in filing its annual report which was due on May 30th. Actually it changed its year end so the report was due to be filed 30th September 2014. It has not been but it is only a bit late not horribly late. However, I just wanted to point out that the release announcing the deal was a tad on the misleading side. 

On 18 September 2012 Quindell announced: 

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2447 days ago

Friday Caption Contest – Daniel Stewart & Steamy Special

Daniel Stewart (DAN) earns its money advising companies (not all of them frauds) how to list and behave on AIM. It brought us Naibu (NBU) and Quenron (QPP). Two days ago its own shares were suspended on the AIM casino because the cash strapped firm could not publish its accounts on time – see HERE. In honour of this…

We bring you an old cartoon in honour of Daniel Stewart, and its employees who raised money for Naibu, China Chaintek and Quindell, with the original caption below.

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2449 days ago

Reader Post of the Week: D Cooper on Quindell

Each week we aim to bring you the most illuminating post by a reader on this site which we think merits a wider audience. And the winner this week is Dominic Cooper who brings some added insight into the world of Quenron , following today’s Red Flag Orgy. Mr Cooper writes:

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2449 days ago

18 More Red Flags for Quindell – I stopped counting at noon (there may be more)

Quindell (QPP) has even more subsidiaries than I thought. And now the subsidiaries are starting to have subsidiaries. And more have been started this year. Think of rabbits breeding. You start with just one pregnant female and pretty soon you are swamped. Okay the interbreeding causes a few problems down the line but that is Quenron in a nutshell.

By noon I had counted 18 subsidiaries of Quindell PLC or subsidiaries of subsidiaries which were meant to have filed their annual accounts (for calendar 2013) with Companies House by 30 September 2014 bit had not done so. That will be a small fine for Quenron but at least it stops me poking around for a while. It is particularly the accounts of Ingenie which I expect to be most illuminating.

Bulletin Board Morons

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2451 days ago

Quindell – No Nuclear Hand Grenade, but there is the TMC nuclear land-mine and more, it is when not if Quenron blows up…

I am afraid that my lead hit a dead end so there is no nuclear hand grenade for Quindell (QPP). Yet. However ….

1. There are a large number of subsidiaries who had to file accounts by yesterday. I guess we start trawling them when I have the energy. So far trawling Quenron subsidiary accounts has proved most illuminating and one can only wonder what we will find this time.

2. The analyst at Cenkos, Ms Andy Bryant, 

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2454 days ago

Does everyone lose their jobs if a holding company goes tits up? Ref the Quindell 4,000

I see that various Bulletin Board Morons accuse me of threatening 4,000 jobs at Quindell (QPP). Just for them, I offer a basic lesson in markets and economics.

For starters Quindell will not go tits up or prosper and join the FTSE 100 (ho, ho, ho) because of what I or anyone else writes. In the long run if it generates the cash that its lackey retained analysts at Cenkos and Canaccord predict it will prosper. Of course it will not and that is why it is doomed. Ultimately it is not about press comment but about cash generation or, in Quenron’s case, lack of it.

I do not wish unemployment on anyone and the vast majority of jobs will in Quindell’s case not be lost. If the Holding company – that is Quenron PLC – goes bust then head office staff in finance, the board, HR , etc. will lose their jobs. You are talking dozens of folk here.  The administrator will then attempt to sell the individual business units. There are c 54 subsidiaries.

Now 

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2454 days ago

Quindell Takes You to the Cleaners Spot the Difference Contest – Winner announced

On Friday I asked you to provide suitable captions in our Quindell (QPP) Spot the Difference Competition. The two photos below show the storefront of one profitable and cash generative operation where you don’t lose your shirt and …the logo of Quenron. And the winning caption is:

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2454 days ago

One man who has made money out of Quindell

Yes you can make money out of Quindell (QPP). That Rob Terry with his seven figure salary and bonus and perks package is doing okay. But the ordinary man on the street can make money too. And here’s how:

I bring you a tale from the Portsmouth evening news showing how one man made £14,157 net from Quenron. It reads:

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2456 days ago

Quindell now at 136.5p – 75% off highs where next & a reminder of 8th August

Shares in Quenron (QPP) plunged last week to close last week at 136.5p. They are now more than 75% off their highs. Where do we go next? Down obviously. The question is when not if they hit 0p. And here’s why.

I shall ignore the fact that I am working on something which if I can stand it up will be a monumental nuclear hand grenade. If I can stand it up that will be lobbed into the pot on Tuesday afternoon. But what do we know already?

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2456 days ago

Has Quindell Taken You to the Cleaners? Spot the Difference Competition

Fascinated as I am as to where Quenron (QPP) got its logo, I am indebted to an American reader who has come up with another suggestion as to where Mr 2+2 can = 5 got his inspiration from. In our latest spot the difference competition, please simply post your entries in the comments section on ShareProphets. Deadline midnight tonight (Friday)

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2460 days ago

China Chaintek interims – this stinks of Norfolk too

From the team that brought you Naibu (NBU) we also have China Chaintek (CTEK) which released its interims today and it goes without saying that they do not stack up either. My target price for the shares is 1p (the value of the cash dividend on offer) but since it will probably be the last when the stock goes ex my target price will be slashed to 0p.

As a reminder, team Naibu/China Chaintek is dodgy serial floater of China frauds Zedex Capital, the Nomad which floats utter shite from China and the UK and which brought Quenron to the AIM Casino (Daniel Stewart) and PR spinners for most of the China Norfolks, the upper class twits at Abchurch.

Chaintek, is like Naibu and the two German China frauds to have emerged in the past three months, from Fujian province China. They all make shoes. Chaintek is in logistics and its main customers are claimed to be shoe producers.

I do not need to go into much detail

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2461 days ago

Quindell & Its Legal Threats to me update…all very odd but I am not gagged! Watch this space!

On 19th August 2014, Quindell’s (QPP) lawyers wrote to me giving me eight hours to agree to withdraw all articles about Quenron, sign a grovelling apology written by them ( how fucking Stalinist) and not to write again. Otherwise I was threatened with a number of measures including injunction and a libel case. I replied within the deadline that I would see the bitchez in Court.

I heard nothing until September 10th when I got another letter from a different firm of lawyers. It stressed that the original firm was still handling Gotham -  since that is nothing to do with me, do I care? – but that a new set of bully boys were now on the case. I am not allowed to report its letter since it was sent in confidence however I can report that it has withdrawn the threat of an injunction and has yet to serve me with any papers regarding an action– it is now more than a month since its first letter. That is a great pity since we could then have started the process of seeking disclosure of matters which would show quite clearly that The Quinnovation Group has indeed committed accounting fraud.

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2461 days ago

Memo to Rob Terry of Quindell – You should have a chat with the King of fraud Sam Antar

It was 5 AM in the morning one day last week before I finally got to have a good long chat with Sam Antar, the FD behind one of the biggest Wall Street frauds of the 1980s, Crazy Eddies. Poacher turned gamekeeper, Sam now busts white collar crime and is an SEC whistleblower. He also blogs and tweets in a most amusing way. Have a look at www.whitecollarfraud.com  @samantar – naturally enough we discussed – at great length – Quenron (QPP).

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2461 days ago

Winners & Losers from the Naibu fraud: Daniel Stewart & Shareholders

This is not my dynamite revelation, I merely set the scene…China fraud Naibu (NBU) floated on the AIM casino in May 2012 at 124p. The shares are now 19.5p. So UK shareholders have lost 5/6 of their cash in less than 18 months. So who are the winners from this farce? Well let me introduce to its Nomad and broker Daniel Stewart. This will appall you and perhaps explains why Daniel Cesspit (which also floated Quenron) is trying not to resign.

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2461 days ago

Naibu FRAUD watch Day 1: now on a PE of 0.46 and 132% upside in shares if Daniel Stewart believes its own SHIT – why wont it say buy?

Shares in Naibu (NBU) have slumped another 10% today to just 21.5p. The company is an out and out fraud and it is only a matter of time before the shares are suspended. If it had a smidgeon of integrity, its Nomad and Broker Daniel Stewart (which likes acting for China frauds and also listed Quenron) would resign. But it seems that the greedy ethics free crony capitalist bastards at Daniel Stewart would rather keep banking fat monthly retainers.

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2461 days ago

Now on a PE of only 0.45, why does Daniel Stewart not rate Naibu as a buy? Because it’s a fraud!

Shares in China based AIM listed fraud Naibu have slumped to just 23p today – they were 50p on Thursday before the disastrous interims were published. House broker and Nomad Daniel Stewart (the firm that signed off on the Quenron IPO) stated on Friday that earnings will be 46p this year and that fair value is 50p. So why is it not rating the stock as a buy?

Surely a PE of just 0.45 and share price upside of 140% makes this a screaming buy. The only problem, as Daniel Stewart knows full well, is that this is a fraud 

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2461 days ago

Geong International – Another Chinese company on the AIM Casino with joke accounts

I have been flagging up what a joke the accounts of AIM listed Chinese POS Geong International  (GNG) are for more than two years but amid the Naibu (NBU) excitement I overlooked the fact that Geong served up its own dogs dinner of a statement on Friday. Its accruals policy makes that of Quenron look conservative.

Turnover in the year to March 31 2014 was £9.5 million (£9.6 million) and pre-tax profit was unchanged at £100,000. But just look at trade receivables - £20.073 million of which £14.265 million was just accrued, i.e. not even invoices for. And this is a Software, largely SAAS Company! You what? We are being expected that sales equating to more than 220% of annual revenue are unpaid which is hardly surprising as 70% of that is just accrued – i.e. booked as revenue but not yet invoiced.

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2462 days ago

Naibu Interims – this stinks to high heaven, shares plunge but target is 0p – this is a Norfolk

Shares in Naibu (NBU), the AIM Cesspit posterboy Chinese company that claims to make sports shoes are off 30% today at 35p. You cannot say that I have not warned you that this is an outright Norfolk and interims today make that clear. The target price is 0p.

Before we deal with the interims I want you to note that CEO Houyan Lin elected to take his final dividend in shares not cash. That he did so was information that had to be dragged out of hapless Nomad Daniel Stewart (the company that listed Quenron as well as Naibu) – it knew this on 15 August but failed to tell investors until 10 September.

The scrip dividend was at a price of 64.8p. The market price at election time was sub 50p and Mr Lin knew when electing that interims would be dire and see the share price crater. So why did he take shares not cash (which he could have used to buy shares much cheaper in the market)? Because this is a Norfolk and today’s interims make that clear.

The headline numbers look great. 

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2462 days ago

Quindell Prize Caption Contest - win a lunch with Tom Winnifrith

Easy peasy. To win a lunch with me on 30th September at Real Man all you need to do is supply the funniest caption for the cartoon below. Feel free to go with a non Quindell (QPP) theme but the Quinnovation Group or Quenron as it is sometimes known seems an easy target.

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2463 days ago

Book your place now for free pizza and drinks, Tom Winnifrith on AIM accounting fiddles and presentations by K3 Business, Premaitha and Anglo African Ag on 29th September

If you want to hear me discuss ten ways that AIM companies overstate profits with real examples ( including Quenron) I will be doing a presentation on this on 29th September in Clerkenwell London – that is on a Monday evening starting at 6 PM.There will also be presentations by the CEOs of: K3 Business Technology – a stock that I have tipped and HAS delivered, Premaitha – a stock I own and am VERY excited about and Anglo African Agriculture – I know nothing but CEO Andrew Monk is a very sharp cookie. And there will be free pizza and drinks until 9 PM that evening.

However places are limited to 50 and as of today 84% of the seats have already been booked. 

To reserve a seat or seats simply email [email protected] stating your name and phone number and how many seats you are reserving.

The event is already 84% booked out so to ensure that you get your seats for a fun packed evening make your reservation now.

I look forward to seeing you on the 29th September at 6 PM at Maribelle’s wine bar, 91, 95 Clerkenwell Road London EC1R 5BX.

Best wishes

 

 

Tom Winnifrith

PS the event is free and we imagine that the seats will be booked quickly enough so to ensure you get one please email [email protected] stating your name and phone number and how many seats you are reserving as soon as possible.

PPS. To ensure you get priority booking alerts for future events I suggest you register now HERE 

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2468 days ago

The Naibu fraud – two critical questions and tests of integrity for Daniel Stewart as the stock heads to 0p and/or a delisting

Apparently at 31p shares in Naibu now trade on a 2015 and 2015 PE of c0.7. Any stock trading on such a rating is either the cheapest stock on this planet or an outright fraud, a Norfolk. Naibu is a fraud. My target price is 0p and this stock will lose its Aim listing soon. It could be very soon. If Daniel Stewart, nomad and broker to this POS – and the firm that listed Quenron – had any integrity it would resign at once as Nomad and broker. As such I ask two questions of Daniel Cesspit.

  1. My old friend Simon “Wincey” Willis is the analyst covering Naibu.
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