38 days ago
Westminster Group (WSG) shares have plunged by well over 90% since Sir Tony Baldry of 3DM infamy became chairman in 2017. And now the cures of Baldry strikes again with a tacit admission of Westminster’s growing cash crisis. First up though, Westminster is changing its year end. How convenient just 18 days ahead of the year end.
61 days ago
Make no mistake, Tern (TERN) is now running on vapours and so are a number of its key investments. This is going to end in tears and those tears could be flowing very soon indeed.
62 days ago
Facing a cash crisis of monumental proportions, Harland & Wolff (HARL) has come up with a cunning plan of which Baldrick would be proud. That is to say that it has launched a cash offer for the Isles of Scilly Steamship Company Limited. Scilly by name but not silly by nature the Steamship Company has told Harland to feck off in the strongest possible terms.
100 days ago
Dragon’s Den star Sarah Willingham can run but she cannot hide. Consumer confidence is visibly waning, the train strikes continue and similar companies , consumer facing discretionary spend outfits, such as Mexican Tortilla (MEX) have already done the decent thing and ‘fessed that they are behind budget. Yet la Willingham who normally loves the sound of her own voice, is silent. But shares in Nightcap (NGHT) are sliding and, at 6.75p, are now at an all time low, almost 50% down on the last placing just a few months ago. I warn you this is looking almost terminal.
150 days ago
The ex ShareSoc supremo, succeeding he who shall not be named, was, you may remember, a big fan of this stock at c5p insisting that it was not going to have to issue shares again on the basis of a research report by the esteemed house of Goldman Sachs, ooops I meant Turner Pope. Well quelle fecking surprise….
161 days ago
Vast Resources (VAST) has to repay more than $8 million of debt by September 29, that is a week today. If course it has not got any cash. If you needed proof of how bad things are there is news from the Baita Plai mine in Romania.
262 days ago
Such is the cash crisis at Versarien (VRS) that it is not just the non-core operations that are up for sale. The reality is that anything can go whether it is nailed down or not. The cash runs out in early October, at the latest, and the rumours from those close to the struggling operation is that disgraced ex CEO Neil Ricketts (still costing the company £21,000 a month until next Spring) is on manoeuvres.
285 days ago
I start with some macro matters, base rates, house prices, the madness of Malcolm in buying housebuilders, etc. Then it is on to Currys (CURY) where Chris is wrong about the shares and where my experience as a customer is not good. Then its cash crisis ahoy at Colin Bird’s Bezant Resources (BZT) and finally when is it a good time to stand down as CEO and what can it mean, I refer to FinnCrap (FCAP) and to Pod Point (PODP) PS I reckon that FinnCap is due another profits warning PDQ as is its proposed merger partner Cenkos (CNKS).
291 days ago
You have to look long and hard to find the “material uncertainty” warning and most of the morons suckered into this stock by disgraced share Tipster Mike Walters of 3DM, Polly Peck, Minmet, etc, etc infamy and by the lies and bogus contracts announced by the company are too damn stupid to look. If the do the warning is utterly misleading. Verditek (VDTK) faces another imminent cash crisis and could go bust before the start of August.
383 days ago
I start with a slam dunk political bet in the wake of Donald Trump’s looming arrest – a clean sweep for the Republicans in 2024, as I explained a couple of weeks ago HERE. Then onto why house prices falling at the fastest rate for 14 years ( a misleading headline) are to be welcomed but not if you are long Purplebricks (PURP) or the housebuilders. Not that I’d necessarily go short either. Today’s ouzo is sponsored by Asimilar (ASLR). I also cover Genedrive (GDR) and the placing it will not ‘fess to although it is clearly underway. Then I look at Pensana (PRE) where yakking on about climate change and hiring stacks of lesbians from Islington seems not to have prevented a bit of a looming cash crisis. How, I wonder, do folks in London N1 describe a fat lady in a woke way? Hey Magna Carta, guess what I forgot to mention today? HERE is a clue
393 days ago
I guess with a looming cash crisis and possible insolvency as soon as June, the clowns running Versarien (VRS) in the post Neill Ricketts era probably have more to worry about than breaking AIM Rules. They may, like Ricketts himself, regard rules as for little people and as such view what follows as pedantry.
393 days ago
Just a couple of weeks ago shamed Aussie penny share promoter David Lenigas was suggesting on twitter that I could not do my sums and there was no cash issue at UK Oil & Gas (UKOG), one of his babies now 96% down over 5 years at 0.06p. Today comes news which should see the old rogue sending me a case of Metaxa by way of an apology. Not a placing but a massively dilutive farm-out of Horse Hill.
397 days ago
Scotgold (SGZ) claims that its directors emails have been hacked and that “specious emails sent in their names to numerous people.” The clear implication is that the email I published on Saturday, HERE, discussing administration and a cash crisis is bogus. It is not it is genuine. The “specious” emails referred to were, according to my source, sent to employees, not insolvency lawyers at Fox Williams. Even its death throes it seems ScotGold dissembles and, in mentioning the Police paints itself as the victim. It is not the victim shareholders are. The company is in its death throes because it has fessed to as much today causing the shares to, as I oft predicted they would, crash. Told y’all! What follows is grim.
401 days ago
In today’s podcast I look at Optibiotix (OPTI), Eurasia Mining (EUA), Jubilee Metals (JLP), Caracal Gold (GCAT), British Honey (BHC), Canadian Overseas Petroleum (COPL), Genedrive (GDR) and Oxford Nanopore (ONT)
449 days ago
Oh Dear. Oh Dear. Companies where there appears to be a culture of insider dealing and whose bosses think that trolling me on twitter is a way to create value are ones where it usually ends in tears for the morons and that brings us neatly to a company which, thanks to drilling failure today, is in crisis, Predator Oil & Gas (PRD).
450 days ago
Scotgold (SGZ) has today served up a trading statement where the bad news is buried in a place nobody is meant to spot. One imagines that the only folks holding this stock are patriotic Saltire waving heroin addicts yakking on about how women with penises should be allowed to go into women’s prisons and share a changing room with your 13 year old daughter. Maybe our heavily subsidised friends in Scotland have not noticed the elephant in the room or maybe economics is not their strongest subject?
452 days ago
The fraud Supply@ME Capital (SYME) has not issued a full year trading update, so we can safely assume there were no material new sales to boast about other than the first Inventory Monetisation transaction funded by VeChain which saw Euro 1.6 million of inventory monetised. At Supply’s claimed revenue percentage fee of 3% this is worth a tiny Euro 48,000 in revenue and almost certainly no profit on the trade at all.
475 days ago
Is there a growing cash crisis at Ben’s Creek (BEN)? In short, and you should be, YES.
524 days ago
I noted yesterday how the bars chain Nightcap (NGHT) has had to halt its planned rollout because of the cash crisis it faces. In the year to July 3 2022, on sales of c£35 million it reported a pre-tax profit of just £238,000 and the operating cashburn was a stonking £7 million. But boss Sarah Willingham described the year as “rewarding and fun”. Just how Rewarding and fun? You will be horrified…
527 days ago
I start by discussing apple pressing: I am still at it. Then I look at Tern (TERN), Amur Minerals (AMC), Joules (JOUL) and Eurasia Miniung (EUA) as it heads for a cash crisis.
564 days ago
Okay you did not need the brains of Lloyd George to work out that this was coming but the stench of panic in today’s package of emergency measures from Argo Blockchain (ARB) should un-nerve even Zak Mir as he is paid to ramp these worthless shares.
573 days ago
Back in February 2020 when Eurasia Mining (EUA) was trying its hardest to ramp its shares to the moon to allow its dodgy Russian backers to dump stock and for it to refinance, it paid the scumbags at ACF Research to produce a note which forecast that revenues would rocket to £341 million by 2021 by when profit after tax would be £160 million. Hmmm, today we had half year 2022 numbers and guess what? Have you got a microscope handy?
576 days ago
Another day and another email arrives from Parsley Box (MEAL) as you can see below. And guess what?
578 days ago
On 16 August I warned HERE that Made.com (MADE) would be lucky to end the year with its bottom of the range cash forecast of £5 million and that the company needed to get away a placing of £40 million. Two days later it ‘fessed that it was working on things with its advisers. Since then matter have got worse and worse and I wonder if this can be rescued at all. First up is the very obvious cash crisis
589 days ago
It is one week to ShareStock and I am flat out today cooking, mowing and otherwise preparing for the event. If you have a ticket and want a home cooked supper remember you must opt in by emailing me. If you have not yet booked I shall stop taking bookings on Wednesday night so please do book HERE. Following on from yesterday’s sexual expose, I now look at how Parsley Box (MEAL) screwed its customers, defrauding them to stave off a cash crisis last Autumn. And what does that all mean for the company? It ain’t pretty.
603 days ago
A week ago interims from drowning in red flags bitcoin miner Argo Blockchain (ARB) made it abundantly clear that it faced a near term cash crisis. Today another sign that it is readying itself for a bailout placing has emerged. But I foresee a problem.
604 days ago
Yet to admit that its MD, poached from John Lewis with great fanfare, has been handed a P45 and a black bin liner, Parsley Box (MEAL) is spamming folks like me, with some offers showing aggressive discounting. This is a clear sign that its cash position is becoming increasingly challenging. And why wouldn’t it?
650 days ago
June’s operational update is truly shocking, and another red flag for the Argo Blockchain (ARB) collection. Natch, with Peter Wall in charge, the statement is disingenuous.
666 days ago
Today the fraud Supply@ME Capital (SYME) will hold its Annual General Meeting which amongst other things will authorise an increase in its authorised share capital so that it can issue additional shares to Venus Capital under the death spiral and issue shares to vendors of Tradeflow Capital to settle the deferred consideration.
704 days ago
Bidstack (BIDS) has surprising news today of a new investor. Well: shit always attracts flies. Why would anyone buy shares in the market when the company’s FY results out just a few weeks ago explicitly warned of a looming cash crisis and need for an urgent equity refinance? Step forward Timmy Horlick, let me explain.
710 days ago
In today’s podcast, I discuss the FTSE 100 sliding; bitcoin’s crash; Coinbase; Online Blockchain (OBC); Argo Blockchain (ARB) and 3 questions Peter Wall MUST answer; Cellular Goods (CBX), where Wall today stepped down as chair (odd timing); Verditek (VDTK); the shame of Innovate UK and ex-footballer and NFT spiv, Michael Owen; Petropavlovsk (POG); and Versarien (VRS), where a cash crisis looms. Now, to brace myself: the mother-in-law will arrive at her new home in just a few hours.
722 days ago
Dragon’s Den star, Sarah Willingham, cannot contain her excitement as she gushes about “further positive trading” in a Q3 statement, out today. She is, however, a bit shy on the record cashburn and looming cash crisis at Nightcap (NGHT), which means another bailout placing is imminent.
725 days ago
The media company beloved by cross-dressing IT consultants, Bidstack (BIDS), has published its predictably dismal results for calendar 2021, as well as a massively upbeat commentary from CEO, Lyin’ James Draper. That has seen the shares marked up by 10%, to 3.65p, with a market cap of £35 million. As ever, folks do not read the small print of the notes. Read the fecking notes, morons!
730 days ago
I start on the news from Twitter & Elon Musk. Then I look at Wildcat Petroleum (WCAT), Novacyt (NCYT), Vast Resources (VAST), the stinking RNS from Nightcap (NGHT) and Versarien (VRS) where the TWO death spirals are really starting to bite as the cash crisis intensifies.
745 days ago
I wrote several articles last week about how Canadian Overseas Petroleum (COPL) had mislead investors and was facing a cash crisis. Snake oil salesman CEO Arthur Millholland of Oilexco infamy responded with a denial and a claim that I did not know what I was talking about and was motivated by nefarious aims of self-enrichment. Well guess fucking what?
763 days ago
Just 4 days after death spiral provider Atlas converted $150,000 of debt into Vast Resources (VAST) shares at 0.86p having forward sold, it has announced the conversion of another $150,000 this time at 0.77p. In February the conversion was at 1.24p. Do you see a trend? My guess is that those shares have already been forward sold and that Atlas will now be working on dumping even more stock ahead of the next conversion. Why the panic? Two reasons:
780 days ago
That is Nigel’s problem. He is just too much of a nice guy as he showed with his piece earlier on the Tern/Wyld cash crisis. I am not so charitable. I am not a nice guy. The crisis is far worse than even Nigel suggests.
824 days ago
I do not go into much detail but this has not been a pleasant last 24 hours so hence the lack of output from me. Fingers crossed I am on the mend. I discuss Covid plays and false Covid recovery plays and end of covid victims including Omega Diagnostics (ODX), a mega short as the cash crisis bites, Abingdon Diagnostics (ABDX), MyHealthChecked (MHC) and – especially for listener TB – Cineworld (CINE). Then I look at more murky Trevor Brown goings on at Braveheart (BRH) and the odd world of Free Association Books and the Brown family. Finally the madness at Tintra (TNT) now – for a company with no operations – and, perhaps, £2million cash – valued at c£40 million. Insane!
825 days ago
He took an £850,000 bonus for staging the AIM IPO of Sensyne (SENS) even though he had promised his Nomad which had then assured institutional investors, that he would not. Then Lord Drayson used more company funds to pay off a whistleblower. This man, enobled by the war criminal Sir Tony Blair after, in a wholly unrelated way, donating vast sums to New Labour, is a festering wart on the backside of the corporate world. One hopes that a cash crisis will deal with this wart once and for all. Natch I have been a bear of this stock all along, unlike hedgie Matthew Scarborough of Gatemore who did his darndest to get me to pump this stock days before the scale of the current crisis started to become apparent.
838 days ago
I think that it was our reader from the Paddington Dungeon who first alerted me to the merits of checking out the website of Parsley Box (MEAL). Not to actually order any of its revolting produce which may satisfy commentator PL but would make my cats, who will eat anything, and most right thinking folk somewhat nauseous. But for the signs it offered of how bad trading had become.
863 days ago
Having raised £4 million gross at 18.8 pence per share on 13 July 2021, the Bulletin Board Morons, although feeling somewhat sore given that the Tern (TERN) share price was 12.5 pence bid price at the close of business yesterday, might be consoling themselves thinking that, at least, the jam tomorrow specialists, won’t be asking for any more cash for some time. Sadly, that isn’t the case and I demonstrate below why they will very shortly be asked to stump yet more cash to feed the greedy board and its portfolio of loss making and cash guzzling investments.
1596 days ago
I am sorry to say that NoGold has not yet been in touch about the £50 he owes me. Shame, shame. In today’s podcast I look at Bidstack (BIDS), the lies, the dire warnming it is sitting on, the role of a house broker, the looming cash crisis and the joke valuation.
1892 days ago
I warned you all in a bearcast last week that the real threat to Motif Bio (MTFB) was that lender Hercules would start to want its money back and that the company’s cash crisis would thus soon become critical. And lo it came to pass.
1998 days ago
Two days after MySquar (MYSQ) suspended its shares on the AIM Casino and admitted to fraud and a cash crisis its odious slug of a chairman, the well known PR spinner Mr Piers Pottinger has quit as a director and from the company. Piers may wish to distance himself from what is a very messy crime scene but it is too late. He was either involved in the fraud or enabled it by his incompetence or his silence or both. He features in a detailed dossier I am preparing for the FCA and SFO urging them to launch a formal enquiry.
2171 days ago
"So who is this David Moyes?" Asked the Mrs after I said that he had been sacked. Surely not knowing who is the (now ex) manager of West Ham is grounds for divorce or at least a trip to Relate? I ponder what as a Republican I should do tomorrow before hoping that both sides lose the FA Cup Final. Then I turn to the looming cash crisis at Sound Energy (SOU) how my most excellent broker, Mr Antony Laiker, stopped me being a real tit and losing a packet on Interquest (ITQ), at Scotgold (SGZ) and at Carpetright (CPR).
2184 days ago
One is, IMHO, a fraud and the other just has a looming cash crisis. Both faced real criticism last week - I discussed how they played and what happens next.
2415 days ago
Companies that tell lies to investors are ones that should be avoided like the plague. If you pick a company up on one lie the odds are that there are stacks of others going undetected. That brings me to Applied Graphene Materials (AGM) where I will demonstrate a slam dunk lie. Then we will turn to its looming cash crisis.
2611 days ago
Yes, I shall be recording my first ever joint bearcast - if one excludes ones where Oakley has chipped in. The date is April 1, my opponent is Paul Scott. Will it be TrakM8 or checkmate? The venue London in a new bonus session at UK Investor Show. I explain more about this total one-off in today's podcast. It is 4 weeks to the day to UK Investor and tickets are 85% booked out so if you are not booked in book NOW! On this podcast I also look at Brave Bison (BBSN) and TrakM8 (TRAK) and how cost cutting can itself prompt a cash crisis. I look at Audioboom (BOOM) with a more generous eye. I look at Glenwick (GWIK), now booted off AIM, which stinks. And I look at the idea of investing in shite companies to make money, ref Red Leopard (RLH) and Cynical Bear. This also brings me to ECR (ECR) where we own shares and I now see arch ramper Big Gib is on board. Over to you Big Gob do not let me stop you!
3326 days ago
As a long term bear from more than 100p down I note with grim satisfaction that following its latest admissions Gulfsands Petroleum (GPX) sees its shares at just 25p. I warned you. This is a tale of disgraceful boardroom antics as well as a cash crisis. I name the guilty men and have kind advice for both the new board and those investors who ignored me and listened to others and stayed on the shareholder list.
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
3364 days ago
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.
3364 days ago
The detailed interim statement from Slater & Gordon out overnight throws into focus the depth of the cash crisis at Quindell (QPP) and how the bastards have serially deceived investors about this. This is really shocking.
The detailed statement is HERE
You will note in that statement that there is a bold admission that S&G paid £12.1 million to Quindell in Q4 2014 as part of its deal for file transfer and exclusivity. That would be £10 million plus VAT.
In its January trading statement Quindell included that sum in its £13 million reported cash inflow. That in itself is wholly bogus and misleading.
3368 days ago
Quindell (QPP) now exists only because its banks have not pulled the overdraft. Each week a new crisis emerges as it struggles to pay all its bills. Reports are now coming to me from all over this creaking fraud showing how desperate things are. Today: Maine Finance Ltd.
My source here tells me that last month the monthly payment to its finance leads referral company wasn’t made and that hence all their fresh leads stopped.
Maine’s website indicates
3432 days ago
It is 13 years to the day since the fraud Enron went bust. Right until the last it insisted that it was in rude financial health. Ditto Quindell (QPP). But some of its trade suppliers are not so sure. The National Association of Bodyshops has today explicitly warned its members of the dangers of doing business with Quindell.
The release HERE is explicit:
The National Association of Bodyshops (NAB)
3436 days ago
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.
3438 days ago
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:
3449 days ago
The Sunday Times has today unearthed evidence of the cash crisis at Quindell (QPP). Listeners to bearcasts here will not be suprised by this news. So what does Quindell do now? Will the sad excuse of a Nomad that is Cenkos let it respond or must the shares be suspended at once. In an angry and hard hitting podcast I lay out what lies ahead as the shit hits the fan and the shares become worthless. Events are now moving at light speed, the word "vindication" is on my lips.
3475 days ago
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.
3506 days ago
Quindell’s numbers for accrued revenue on Industrial Deafness will prove to be fantasy, in my opinion. That will mean massive writebacks of revenue and profits already booked, that all earnings forecasts are wrong and that a company threatening cash crisis is on the way by early 2015. Prompted by a former senior Quindell staffer to whom I have been speaking I went “undercover” today to show why.
