108 days ago
As I pointed out to AIM Regulation last week, Martin Groak should be fired as a NED at Tanfield (TAN) because he is a proven crook, that is to say he was at the heart of a demonstrable prospectus fraud.There is another issue to consider…
109 days ago
It seems as if Bloomberg BSD John Micklethwait is taking the Nick Leeson & Seth Freedman scandal seriously. Laura Zelenko, the Global Head of Editorial Standards no less, has been in touch. I discuss that, Paul the Vet and why Tanfield (TAN) is just an acid test for AIM.
110 days ago
I have today revealed how the £77 million fraud Zamaz has been quietly buried without ever publishing audited accounts from its September 2022 IPO. AIM Regulation should be acting decisively as a man at the heart of that fraud, Martin Groak, is still a director of an AIM Company, Tanfield (TAN). I have written to the Oxymorons.
4371 days ago
Clean Air Power (CAP) has just raised £1 million at 4p – a 27% discount to the share price the day before the RNS. The stock now trades at a new year low of 4.125p and this appears a lesson in red flags. I’d not wan t to hold this stock as it strikes me that it is full of CAP.
The hype is clear. Roman Abramovich is a shareholder and he is a smart fellow. Yes he is but we all make mistakes. The company has exciting technology, hmmm. It states that it is “developer and provider of Dual-Fuel™ engines for heavy duty vehicles.” Well that may or may not be a growth market but that does not mean this company will make money from it. Think AIM Cesspit listed Tanfield (TAN) and green cars. But who cares. It sounds exciting so let’s buy a few…er, maybe not.
And as it happens the company boasts that since 1991 it has spent £50 million on its technology and as a result has patents pending in 65 countries. Hmmmm. 23 years and £50 million spunked up against the wall on R&D and it is still not anywhere close to generating cash? Yes that’s right.
As at the end of calendar 2013
4482 days ago
Shares in perennial dog’s breakfast, lunch and dinner Tanfield (TAN) tanked last week and now trade at just 14.125p on the back of its latest dire trading update. Yet the company is still valued at £19 million. That really is a triumph of hope over experience.
The restructuring of last autumn saw Tanfield reclassified as a passive investment company. It now has stakes in two (perennially cash consumptive and loss making) businesses. Let’s start with the bad news from Friday.
