2157 days ago
As noted many times, but most recently in bearcast yesterday, UK Oil & Gas (UKOG) is running on fumes. It quite simply does not have the cash to both cover its (bloated) PLC costs and fulfil its exploration commitments for the rest of calendar 2018. Thus a City source close to the situation tells us that ShoreCap is - as we speak - sounding out investors about a £5 million placing. And it is struggling to find any demand.
2615 days ago
AIM listed Eden Research (EDEN) has been engaging on fraudulent deals with related party company Terpenetech for six years now. The first deal was a sale which Eden booked but Terpenetech never paid for. Who cares, Eden kept that debt as a current asset for 5 years. Sure the auditors should have kicked up a fuss, the Nomad should have objected but this is AIM who cares about fraud! Of course the far bigger £600,000 fraud waited until August 2015. It was a panama pump classic as you can see here - but this is AIM and Nomad & broker ShoreCap wanted to earn big commission do a placing so everyone again turned a blind eye. But now the cover up is falling apart.
