4 days ago
Football is not a beautiful game it is a business. Those who play it well earn a shed load because there is such a huge demand to watch them kick a ball around the park and for merchandise associated with the great and good. But those who demand equal pay and airtime for the women’s game sometimes forget this.
25 days ago
I preface this by saying that Verditek (VDTK) is a company that can lie about winning take or pay contracts just to get a placing away. In the end the “customer” – and I use the word loosely – neither takes or pays. So anything it says in an RNS , even its cash balance, is not something that I would necessarily believe. But to make life simple I give it the benefit of the doubt and assume its stated cash balances are, more or less, correct.
26 days ago
Maybe, under mounting pressure from myself and others, the regulators have finally forced the hand of Powerhouse Energy (PHE) because at 3.11 PM yesterday it was announced that its chairman, sleazy ex Tory MP Tim Yeo had “been resigned”. The statement issued was, needless to say, a lie.
30 days ago
It really is almost impossible to know where to start with today’s AGM statement from the disaster that is Remote Monitored Systems (RMS). It is long and wordy and I am afraid contains a blatant lie. But cutting through the waffle…
87 days ago
How do you know if the fraudsters at [email protected] Capital (SYME) are lying in an RNS or financial report? Simple. If there is a “y” in the day Supply is lying. It lied about its net assets in its RTO document, repeatedly lied about its sales pipeline, lied about its sales in 1 RNS and 2 interim reports and lied about so much else. And here is another lie exposed yesterday. I have written to the FCA which has already suspended the shares once.
98 days ago
The number of lies told by this company is so great that I have almost lost count. But then Remote Monitored Systems (RMS) is listed on the AIM Sewer where rule 67 states “Any company can lie to investors via RNS or in podcasts with Justin the Clown or that imbecile Zak Mir and the Oxymorons at AIM Regulation will do absolutely nothing about it.” Okay I made that bit up. And so, with no great hope of it doing anything about quite blatant RNS lying, I have written to AIM Regulation about Remote Monitored Systems and its Nomad and broker SP Angel asking for an investigation into a new £1.5 million lie that emerged yesterday. The letter is below:
134 days ago
This is so simple that even the woke dullards at the FCA should be able to understand it. If you delve into the geeky world of IFRS you will see why [email protected] Capital (SYME) cannot have booked any sales at all in calendar 2020. That makes its September 28 2020 RNS claimed booked revenues of £2.2 million and its interim results published on January 29 2021 claiming H1 sales of £386,000 also a lie. Directors have dumped millions of pounds worth of shares at prices inflated by those lies which makes this a fraud. So here, for chatroom and regulatory morons, is a detailed explanation of IFRS and what is going to happen next.
190 days ago
In my world of investigating white collar crime, there is a Eureka movement when you can prove that a company has told one slam dunk lie. It does not matter how small the lie, it is the act of lying that matters And that brings me to Meghan Markle. We can dissect her interview in detail as I started to do HERE but let us focus on what is the most glaring and obvious and serious lie she told.
193 days ago
In the old days misleading investors with lies or grotesque exaggeration was frowned upon but it seems we live in a new modern world where this sort of thing is just fine and dandy. Let’s go back to April Fool’s day 2019.
225 days ago
The FCA will by now have had ample opportunity to read yesterday’s explosive dossier on Zoetic (ZOE) HERE. I sense, however, that most folks owning the shares will not have done so since they think not paying £1.99 for a day pass is a cost saving as they prepare to kiss goodbye to their savings. Whatever. It is a false economy for you morons. But for the cheapskates, outside the paywall, I offer you one slam dunk and material lie from that dossier. And companies that tell monster lies to deceive investors are frauds, are they not?
249 days ago
Not only have Octagonal (OCT) and its boss John Gunn both been charged by the SEC with breaking Securities laws but both are now shown to have lied to investors in a madssive way via RNS. Today they admit to that crime and then lie again. How on earth AIM regulation think Gunn is fit to run not one but two AIM listed companies, Octagonal and Inspirit (INSP) defies belief.
302 days ago
Versarien (VRS) is not generating any meaningful revenues from graphene. At a PLC level it is almost out of cash & its debt facilities are almost maxxed out. And so notwithstanding the fact that it already has a Lanstead death spiral in place, it needs to get a placing ahoy. Hence a release today which is almost certainly materially misleading if not a slam dunk lie.
331 days ago
On 23 March 2020 POS AIM promote Versarien (VRS) announced “ subscription to raise £6 million”. Natch the headline was misleading and indeed Versarien was forced to issue a clarification at a later date. On 16 October the lies started to reveal themselves big time.
350 days ago
Lockdown in our part of Wales starts in just under two hours. The Mrs has already escaped to England with Joshua. I am staying here but need some supplies so must rush to get them from a store where they don’t make you wear a face nappy before the North Wales fuzz sets up roadblocks on the bridges over the River Dee. Before my Dukes of Hazard style contraband run, I discuss various conspiracy theories over Rolls Royce (RR.) and IAG (IAG). I look at the massive issues now hanging over Verditek (VDTK) as I expose its latest desperate ramping and another past lie. Finally, Dev Clever (DEV), what is going on with Asimilar (ASLR) and Mark Horrocks as its share price slides again.
380 days ago
I start with musings on croquet hoops, something I am geekish enough to comment on, and how it is symbolic of our age. I wander on to consider the craziest job creation scheme in history but one which the mainstream media takes seriously… back to crazy croquet hoops. Then it is news that Capita is closing offices where 15,000 work and the Government’s barking mad plans and pleas to reverse this tide. Finally, the response of Alessandro Zamboni of [email protected] Capital (SYME) to me terming his company a con and saying he should be in jail. Other than his stupidity in telling an obvious lie, Sam Antar, the king of the fraudsters, would be proud of him.
454 days ago
If only to protect themselves folks at Turner Pope and Shard Capital need to take urgent action. There is clear insider dealing and crime evident at Tomco (TOM) as more than 100% of the issued share capital looks set to change hands today. At Iconic (ICON) I detail lie, after lie after pointless fecking lie relating to an RNS of 12 September 2019 – will my pal Damon Heath do the decent thing and pull the plug?
455 days ago
Everything about Iconic labs (ICON) is toxic as we have exposed so many times HERE. Not least is the way it happily deceives investors. This worthless lie generating POS should be slung off the markets at once. In order to keep its death spiral funding going Iconic likes to trumpet new deals but is a shy in highlighting that they did not in fact occur. For instance take the Social Alchemist and Medium Channel Media deals that were announced.
488 days ago
I have always been a big fan of Priti Patel largely because she has an unrivalled ability to infuriate the liberal metropolitan chattering classes. The Mrs says that if we had another child she wants it to have an Indian name. I have hitherto said a daughter should be called Priti in honour of the true heir to Thatcher. The Mrs was opposed to that and I have now changed my mind after the tweet below from the Home Secretary. It is a brazen lie but it is symptomatic of a Govenment whose Covid policy is now all about coverng up its own blunders rather than doing the right thing. And, as such, we are now being fed lie after lie which the MSM, having bought into the mad GroupThink without question, is only starting to dare to call out.
542 days ago
Versarien (VRS) this morning announced “subscription to raise £6 million”. Folks looked at the headline and the shares soared to 31p. Ha! Mugged by Ricketts again! Then they read the release. It is bullshit. Death spiral provider Lanstead is not putting up a cent up front and the total amount handed to Neill Ricketts’ bag of shite company over the next two years could well be well below its monthly cashburn! Ricketts really is the most shameless bullshitter and only scumbags like SP Angel, who took over as Nomad after Canaccord resigned, would sign off on such misleading gibberish which contains one MONSTER lie.
556 days ago
Versarien (VRS) shares raced ahead yesterday as Doc Holliday pumped away, He has now admitted that he has sold most of his stock into that pump. Suckers! Today Neill Ricketts has done an interview with IG where the questions were blowjob soft and even so the bullshitter struggled as you can see below.
560 days ago
The FCA and AIM Regulation are now looking Neill Ricketts claim to have sold shares to fund the building pf a laboratory at a school which has not built the lab and claims a much smaller sum is NOT coming from Neill persobnally. While the regulators deal with that act of market abuse here is another twitter lie from Ricketts.
643 days ago
A stream of articles on this monstrous lie was followed by lunch with Big Dish (DISH ) founder Aidan Bishop and his PR spinner the Sith Lord Zak Mir here at the Welsh hovel. I urged the company to make a full apology and to make serious boardroom charges. Today it has gone only half way there. It is not enough to make the shares investable.
714 days ago
On Monday I revealed HERE that Bahamas Petroleum (BPC) was trying to raise $25 million and had already had to cut the price from 1.4p to 1.2p. Bahamas tried to deny there was a placing afoot via RNS but I published an email in response calling that out as a GREAT BIG FUCKING LIE HERE. Oh dear, it seems that things have gone from bad to worse.
732 days ago
I reflect on the annoversary of 9/11. I ponder points raised in today’s ShareProphets radio show with Carson Block and Anthony Laiker about bull market complacency to fraud. In that vein I use Tesla (TSLA) and the legal case below as a case study. I look at Neil Woodford’s latest £12.5 million woes answering reader feedback. I look at Catennae (CTAE), Riverfort Global Opportunities (RGO) and my pal Jim Mellon’s Fast Forward (FFWD). I also comment on the latest Burford (BUR) news.
776 days ago
As you may know I like the management at Big Dish (DISH) and its PR guru/Digital Communications Officer the Sith Lord Zak Mir is one of my very few friends. Pro tem. As such it pains me to say this but this company is now shown, with the publication of its results, to have lied to the market on May 30th 2019 in the most serious of ways, just eight days ahead of a £2.1 million placing. This should be jail time for someone.
836 days ago
And clueless Marcus Stuttard at AIM Regulation wonders why the AIM Casino is regarded as such a joke? How about because companies are able to lie to investors without sanction? I flagged up BlueJay earlier for telling a monstrous porky, now here is another, Live Company (LVCG).’
836 days ago
Yesterday the grotesquely overvalued spoof that is BlueJay Mining (JAY) was forced to issue a statement relating to its 2018 results in which it stated that the December 31 2018 cash and cash equivalents position was £8.8 million. But below you will find an investor presentation which you can read in full here which was published on 12 March 2019…
870 days ago
Back in late January as its shares were ramped to 3p on the back of preposterous speculation about the Parys Mountain deposit in North Wales I warned you that Anglesey Mining (AYM) was almost bankrupt and that it was placing ahoy. Today came the placing and an accompanying porky.
881 days ago
In the greater scheme of things, given our exposes on the related parties nest of snakes, the blatant RNS lie and the fundamental insolvency of Management Resource Solutions (MRS) this is small beer, but it seems that the Management Team do not give a FF about AIM rules on website disclosure as the screenshot below demonstrates.
963 days ago
So what if Frontera (FRR) got slung off AIM because its board told lie after lie, some folks just want another punishment beating it seems. And thus loyal shareholders "long and strong" have set up a Shareholder Action Group to assist the board. hat-tip to reader Juicin for spotting this. The group lays out its aims and objects thus:
995 days ago
Last weekend we served up two stashes of documents HERE and HERE which made it clear that on a serial basis Frontera Resources (FRR) had either not informed its Nomad Cairn and the wider AIM Casino market of pertinent news or had, in some cases, simply lied to one and all. On Christmas Eve at 7.30 AIM Cairn quit as Nomad and the shares were suspended. That prompted the biggest lie of all.
1080 days ago
If sexual harassment and rape are to be tackled seriously then those stepping forward must be believed. But equally those making untruthful allegations must be named, shamed and punished. Such folks damage the cause of equality and liberation immeasurably. And that brings us to the rape of the reputation of Brett Kavanaugh, a man who will hopefully be a Supreme court justice by the weekend.
1167 days ago
A Survation poll taken on Saturday shows the Tories falling fast to 38% and Labour rising to 40%. And the Brexit betrayal backlash is only just beginning. For starters, Mrs May’s henchmen have so far managed to gag most Tory MPs with threats while they spin the line that her betrayal is a good deal for Britain and is essentially what we 17.4 million voted for. That gag and that lie won’t hold for long. And secondly many of us were too bothered about the World Cup and associated drinking to take on board the full scale of the treachery, of the red lines and ,manifesto pledges abandoned. Only now is that sinking in.
1180 days ago
Wanted by the police in Malta on criminal charges, under investigation by the HMRC, FCA, MSFA, SFO, IRS and the UK Police you would have thought Julie "lingerie on expenses" Meyer MBE would stop telling blatant lies in order to somehow part folks from their wealth. But now, another piece of GDPR non compliant spam arrives twice in my inbox this weekend and, as you can see below it is utterly lie packed.
1207 days ago
On Saturday Cynical Bear asked if the Mereo Pharma (MPH) offer at 300p via Primary Bid was its worst ever? The answer, notwithstanding stiff competition from uber dogs such as Toople (ROOP) was clearly YES!. And the placing has flopped. Living in la la land Mereo says it was "successful". Like fuck it was. You lie Mereo!
1213 days ago
As we saw earlier, Julie Meyer has told the US taxman, the IRS, to who she owes vast sums, that her only source of income is - illegal - director loans from Ariadne in Malta. Unfortunately that is a lie. Because, thanks to Winnileaks, you can see below a letter from a Swiss company Vestergaard where Julie is a director detailing her pay in 2017. Check its website and you'll see she is still a director. Ooops, I bet Julie hopes the IRS don't find out about that. Sadly for the devout Christian...
1533 days ago
The debate about public sector pay is predicated on the myth that it has gone up by just 1% since 2013. The liberal media, the Labour party and indeed almost everybody just accepts this is a fact. But it is not true. It is fake news spun and reported by those who cannot be arsed to check their facts. If you actually bother to check the data from the Office of National Statistics you will see that it is a lie.
1538 days ago
Late on Friday, at no-one is watching O'Clock we learned that Po Ling Low had quit as FD of AIM listed China fraud Aquatic Foods (AFG) with immediate effect. Really? It was 5.21 in London so it was 1.12 in the morning in China. Did Po really walk the plank so late in the evening. Clearly that was just another lie from this slam dunk fraud.
1567 days ago
For most of us the highlight of the BBC Question Time Leaders debate was seeing a sweating Jeremy Corbyn being laughed at for his dismal answers on nuclear weapons. Second best was yet another refusal to condemn folks he has previously described as "heroes," that is to say the murdering bastards of the IRA. But for the BBC the highlight was a Nurse bashing Theresa May for "cutting her take-home pay" since 2009. The BBC did not bother pointing out that the nurse was lying and Mrs May was too polite to point that out. But the Nurse did tell a 100% slam dunk lie.
1810 days ago
Someone who invested in its last bailout placing told me that he did so because Strat Aero (AERO)'s lawyers had convinced him that it would wipe the floor with litigant Hulsey Smith who had accused Strat of serial fraud. He reckoned the shares would zoom when Strat won the case. Sucker!!!!!! But he is not alone. Strat told all investors via RNS that Smith had no case at all and that it was to counter sue. So today, as the trial loomed, it has caved completely. Er yes. Another lie from a company that is clearly run by pathological liars;.
1816 days ago
Suspended for failing to do an RTO, the AIM listed piece of crap that is Glenwick (GWIK) announced late last week, how it is to spunk all its cash. Need,less to say the company told a grotesque lie in its RNS and it and its advisers seem rather unwilling to return calls and defend or justify that lie. Peterhouse, Allenby, Glenwick you are cowardly bastards as well; as liars.
1840 days ago
Hell: who cares if a company on AIM tells a blatant lie about a big order a few days before a bailout placing? African Potash (AFPO) reckons that is okay and now it appears that the most ramped stock of the moment, Cloudtag (CTAG) thinks that it is just part of the game too. Does anyone care about the rules any more or is fraud now acceptable on AIM?
1845 days ago
Yesterday I pointed out that the RNS relating to the supposed $5.2 million order that AIM listed fraud Cloudtag (CTAG) had secured from UK distributor had, within months been shown to be a lie - as you can see HERE the guaranteed quarterly order just had not occurred. Now let's move on to whether Second Chance has any chance of fulfilling the "guaranteed" $5.2 million order for calendar 2016. Let's go to Companies House.
1872 days ago
Three days ago Sky News reported that Inmarsat (ISAT) had approached Avanti Communications (AVN) with a view to making a bid. This was, as it happens, not true and today Inmarsat has exposed the lie in full. The story here is not only of the looming financial bankruptcy of Avanti but of its full blown moral bankruptcy too. This is shocking at every level, another milestone of shame for both Avanti and for the AIM Casino.
1928 days ago
On May 16 Avanti Communications once again (AVN) lied to its investors. Since then it has been scrabbling around trying to complete an emergency refinancing. As the shares have tanked from 90p to 64p (and falling) since the lie is it unfair to ask the company and its bombastic CEO David Williams how things are going? First, however, lets look at the lie.
1964 days ago
The Mrs was renewing her MOT. A banner advert on the site linked to take the EU quiz which by mistake she hit. It is a multiple choice quiz by the Government. It is laughable.
1967 days ago
I found this impossible to believe but Jabba was taped in action. The man who claims to have no managerial involvement in the companies running Horse Hill has phoned critics of the scheme asking them to retract their comments.
1971 days ago
If something good happens to the economy Dodgy Dave Cameron and team Project Fear tell us that it is thanks to the EU. If something bad happens it is down to fear of Brexit on June 23. And the media just laps up the lies. That brings us to unemployment in the UK which rose in March by 21,000 to 1.7 million. 31 million folks are in work. The increase is therefore just over 0.05% of the workforce , in other words tiny and possibly even seasonal to some degree, but the press bought the line that it was down to businesses not investing in jobs on Brexit fears.
One or two journalists had the decency to add that it might also have been caused at least in bit by the world economy slowing. But they clearly did not think that one through did they?
Yes the world economy is slowing so we saw poor jobs news from across the globe last month with China alone announcing that six million state workers in coal and iron and elsewhere were going to get P45s. In the US the unemployment rate rose from 4.9% to 5%. And those were the brightspots. In Brazil and most of the EU the P45s were flying.
So I put it to you: unemployment is increasing in the US, Brazil and China (as well as in the zombie Eurozone), is that because:
2002 days ago
Cabinet Minister Amber Rudd has been marked down as a ghastly careerist harpie for some time. Her last appearance on Question Time, or rather the last that I could bear to watch, saw her refuse to point out that it was the private sector not the State that created jobs and wealth as she spoke to a hall packed with clinically obese welfare junkies from the grim northern post industrial wastelands. Ms Rudd is someone who will say whatever she thinks will advance her or her cause. I have no idea what she actually thinks if indeed she thinks at all.
As such it is no surprise at all that she is a fully paid up member of Project Fear. And last week she served up the shock claim that if we leave the EU, British Energy bills will rise by £1.5 milion a day - please note that we pay c£30 million a day for the privilege of being in the EU. Let's ignore real maths, Amber reckons we must vote against Brexit to avoid increased power bills.
It is hard to see where Amber gets this idea from other than the drawer marked "bogus claims Project Fear". But
2008 days ago
Yesterday as LGO Energy (LGO) raised £1.36 million gross, I published the emails showing how David Lenigas stated that the company needed £5-6 million to turn around. Even that was a lie predicated on silly output projections, but on the sums raised LGO is just fucked, it has merely postponed crunch time from April ( 2-3 weeks) to May, lets call it 7 weeks.
2013 days ago
Paul "Queenie" McManus of Walbrook PR has repeatedly briefed bulletin board morons who own shares in the fraud that is AIM listed Eden Research (EDEN) that I refuse to meet the company. That is a lie, I want to meet Eden, to record a podcast, and have made it clear I will head to its HQ in Cirencester. Yet Queenie declines to name a date. Why?
My offer is simple. I have twelve questions regarding Terpenetech. This is a SPV set up in 2011 which has been involved with accouning and securuties fraud with Eden for four and a half years. Without this fraud Eden would be bust.
2028 days ago
Throughout the last few months of last year David Lenigas tweeted again and again how an ISDX listing was the answer to all the liquidity nightmares at the bottom end of AIM. Big Dave misled his folowers for reasons I shall explain below but the proof of that lie came on what for me was a good Friday with Afriag. For Jabba The Hutt with yet another lie laid bar this is a disaster.
Of course it was not just Dave that spun the lie. In making its excuses for leaving AIM and just having its shares traded on the lobster pot Afriag stated:
2050 days ago
We have already demonstrated that not only is Servision (SEV) teetering on the brink of insolvency (HERE), has a ludicrously aggressive revenue recognition policy (HERE) but that also it announces deals as pre-placing ramps then patently does not deliver on them HERE & HERE. Now lets look at a pre-placing ramp from Brazil from April 2015. This is a shocker.
2059 days ago
So far Nomad Allenby has refused to act when shown clear evidence that its client Servision (SEV) has issued RNS statements which have not actually been born out by reality in terms of new orders. Clearly Allenby regards getting its corporate retainer as more important than its reputation. So after yesterday's shocker here is an even more monstrous lie . This company is a worthless lie factory and given that it is almost insolvent its shares are worth 0p.
2066 days ago
The real reason that shares in TrakM8 (TRAK) are going to crash is that whatever bull it spouts about earnings and profits it simply does not generate any meaningful free cashflow as I demonstrated yesterday HERE as I also showed what a duff deal the Monkey purchase was. But in order to give the impression of growth, companies like this always have to do lots of acqusitions so now let us look at the purchase of DCS Systems announced - with another lie - on 16th June 2015 about a month before directors dumped 1.22 million shares at just 157p.
2075 days ago
Fat Aussie share ramper Jabba The Hutt is still new media obsessed and is apparently starting a series on his new blog on twitter, trolls and how the media are all such bad guys while Big Dave is left to carry the sword of truth and wield the shield of justice. His first article is a classic in self delusion and well, er...lies.
2079 days ago
This is an extra bearcast for today. The main one on UK Companies is to follow. This one covers the biggest lie told by shite companies on AIM, told today by Golden Saint Resources (GSR) but it is far from alone, the real crisis in big PLC crony capitalism, ref Macy's and many others, and also why I remain bearish on equities.
2234 days ago
I shall admit that the old fraudster has chutzpah but he has today welcomed the SFO Criminal Investigation into Quindell (QPP). He should not as it will see him going to prison. Anyhow via his new fraud Quob Park Estates he had today said he sees Quindell shares worth 172p (in your dreams my son), accused me (0p target) of being short when I was not (that is defamation your criminal tosser since I was not short and gained no financial advantage from the shares slumping) and said he welcomes the SFO getting involved (that’s a lie). The statement from the crook reads:
2302 days ago
You may well remember the dirty tricks camoaign that Sefton Resources (SER) under Jimmyliar Ellerton waged against myself and Dan Levi when we exposed his lies and fraud. One smear was to plant a suggestion/lie with a "friendly journalist" - or scab as I would call her - in the Daily Telegraph suggesting that Dan was short of the stock. Now it seems as if New Sefton is waging the same campaign against me.
The old dirty tricks are revealed in full in Sefton the True Story video from UK Investor HERE
That Sefton shares are overvalued is clear to one and all as I pointed out yesterday in BearCast HERE
But Sefton does not like it and its minions are smearing. There is a blogger known as California Joe who states on his blog:
2305 days ago
Naibu (NBU) joined the AIM Casino on April 5 2012 and from that day to the bitter end it always insisted that it had zero debt and cash of c£40 million. That was, as I shall demonstrate below, one monstrous lie. And this now brngs to the fore the whole issue of all the other China frauds on AIM claiming to be drowning in cash and debt free and the pathetic regulation of this whole shambles.
2413 days ago
It is a day for being angry. I mention in this podcast my anger at the way AIM CEOs are rewarded for failure as part of a system that just screws ordinary investors and that can be listened to HERE. In my personal postcard I look at how our politicians lie about the problems at the bottom end of the housing market and refuse to tackle them because they simply will not admit to the truth.
2466 days ago
Just a quick podcast special looking at how companies lie and mislead investors via RNS and also RNS Reach. The latter & its true (lack of) import is explained. Case studies Blur, Optimal Payments, Quindell (natch) and Outsourcery
2489 days ago
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
2521 days ago
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.
2535 days ago
I established without doubt on Sunday that the Quindell RNS regarding the issue of 18 million shares on September 2nd 2013 was a great big fat whopping lie told by the company led by Rob Terry. This now begs the question about the issue of a further issue of 9.178808 million shares on October 21 2013. Just to whom were they issued and why? This is exactly the sort of issue my lawyers are dying to get into under the disclosure process if the Quindell bitchez ever get around to suing me for libel.
I start on 2 September 2013 when Quindell – at this point desperately short of cash – issued an announcement regarding Quindell Property Services which reads:
2637 days ago
Twice in the past couple of weeks I have accused AIM Cesspit listed Astar Minerals (ASTA) of issuing an RNS that was a lie - HERE and HERE. Twice I have been pilloried by Bulletin Board Morons. On Friday Astar ‘fessed up via RNS and its chairman Andrew Frangos called me to thank me for forcing his company to set the record straight. The sinner repenteth, I am vindicated. The Sheriff of AIM is a merciful man and the incident is at an end, I move on.
Astar’s crime was to claim that it had JVs with two Nogel companies which were operators of assets (May lie) or had relationships with big names like Apache (June lie). In fact, as I clearly demonstrated, both were shelf companies. The wider Nogel group seems a complex beast and within it there are entities which could have made such claims but Astar had signed no deal with them. To claim as much was, Frangos admitted to me, wrong.
While the Bulletin Board morons ranted
2642 days ago
Quindell (QPP) has today issued an RNS which is a blatant and demonstrable lie. Go on sue me Rob Terry – your company has lied. The issue is the 100 million shares it was meant t have issued to increase its stake in PT healthcare from 26% to 49.9% on March 20 2014. Over the weekend I pointed out that it had in fact NOT issued these shares as it claimed in its prelims and annual report HERE.
Today Quindell has stated (the underline is mine):
2650 days ago
I was sitting at Real Man Pizza at noon yesterday awaiting my guest, Dave Breith of Coms (COMS). At 12.30 I tried calling to see where he was. His PA called me to say he was off sick and apologising for his second last minute let down in 3 weeks – I do want to meet the guy. As we now know Breith was not sick. That was a lie born out of apparent monumental incompetence at his firm.
I am still happy to meet Breith but he now had hard questions to answer if the Sheriff of AIM is to be convinced. I told folks not to buy at 6.125p HERE 28 days ago. I said that at 4p I might have a nibble. The shares are now 4.8p but I withdraw that advice – until Breith can counter a number of red flags I would not buy at all. But before we get to the red flags let’s deal with the lie.