technically insolvent

72 days ago

EXPOSE: World Chess - additional breaches of IFRS in its financial statements

How does the FCA allow companies to publish results statements that are quite simply riddled with errors and not restate? Having flagged up a raft of schoolboy errors already HERE, after the market had closed, I took a further look at World Chess (CHSS) and noted some additional non-compliances with IFRS accounting standards. Are FCA staffers too busy shitting on the floor to do anything about this?

109 days ago

Letter to the FCA: Georgina Energy, suspend now & internal enquiry needed

I have written to the FCA not only about why Georgina Energy (GEX) shares need to be suspended now but about why the FCA needs an internal enquiry into how it approved the 2024 RTO prospectus.

128 days ago

To the Chairman Georgina Energy: AGM 6 August Part 1

As it happens I am in London on 6th August but have another AGM to attend, Optibotix (OPTI). But I suppose I could squeeze in that of Georgina Energy (GEX) first if anyone cared to make me a proxy. If not I have a series of questions that any shareholder attending might care to pose to the chairman. Given that Georgina is technically insolvent and must be about to get Jerry “oily” Keen and his low grade bucket shop Oak Securities to try to do a placing at par (5p), these questions are pertinent. Suffice to say that anyone holding the shares at 6.25p is insane. The first slew of questions concern the two chancers who act as executive directors Messrs Hamilton and Wallace. I believe that it is in the interests of all shareholders that these questions be transparently dealt with:

154 days ago

UPDATED: Why are shares in technically insolvent Georgina Energy still suspended? They are back!

On June 2 the technically insolvent shitco run by proven wrong ‘uns that is Georgina Energy (GEX) asked that the FCA suspend it shares as it could not get its accounts on time. But it stated clearly:

186 days ago

Supply@Me Capital and a lack of funding update

In today’s RNS, technically insolvent Supply@ME Capital (SYME) ‘fessed up that the $1 million due on 31 May under its funding facility had not been paid by cash strapped and technically insolvent Nuburu (US:BURU). Nuburu is now $2,130,000 in arrears on its Supply on demand funding

192 days ago

Technology Minerals – Letter to PKF Littlejohn

I have written to Joseph Archer the bean counter at PKF Littlejohn who signed oiff on the June 30 2023 accounts from Recyclus Limited about the missing and way overdue accounts for last year. Recyclus owes Technology Minerals (TM1) £9 million and is 48% owned by Technology. I suggest that both companies are technically insolvent and with Recyclus trying to do an EIS fund raise, Archer should be alerting investors.

198 days ago

EXPOSE: ‘ello, ‘ello, ‘ello – what is Georgina Energy hiding now?

Technically insolvent Georgina Energy (GEX), a company run by demonstrable wrong’uns has something to hide as a deep dive at Companies House will reveal.

218 days ago

GOTCHA! First Class Metals - a tweet that has aged badly and a moron who owns the shares, as it admits my earlier article was all true

Finally First Class Metals (FCM) has finally issued an RNS confirming my breaking news earlier that the ponzi fraud 79th Group has gone into administration. If only it had done due diligence before taking its cash and appointing its chairman, now on Police bail, as its chairman.. First says it is also talking to other funders which is good as it is technically insolvent with net current assets of MINUS £300,000 and is burning cash. But who'd want to invest with the administrator now seeking to realise a 41% stock overhang? By way of backstory...

239 days ago

Versarien – after a 99% share price collapse, what are the fees of the 2023-appointed "turnaround specialist”?

On March 29 2023 Versarien (VRS) announced that it had hired "turnaround specialist" David Stone. The shares were then 3p.

254 days ago

KERBOOM: Argo Blockchain and the stinking GEM deal, Evil Banksta has more, surely the FCA must intervene?

Earlier today Evil Banksta pointed out that the maths on today’s refinancing and acquisition by technically insolvent Argo Blockchain (ARB) just made no sense at all. The deal stinks., Now he pipes up with added detail which is just damning. The FCA should be all over this. Evil Banksta notes:

254 days ago

EXPOSE: Argo Blockchain $21.7m acquisition: the numbers just do not add up, do the maths with Evil Banksta

Technically insolvent Argo Blockchain (ARB) has today announced a conditional deal with the owners of GEM Mining and the maths just does not add up. Evil Banksta calls the proposed transaction “skanky” and that is an understatement. Here’s why.

360 days ago

TrakM8: Apologies I was too generous

I am too much of a nice guy in the bonus bearcast yesterday. I apologise. It is a fault of mine. I had suggested that TrakM8 (TRAK) was technically insolvent and that there was no way on earth that it could pay its creditors, including £4 million of bank debt, as they fell due during the next 12 months. But I made a schoolboy error.

375 days ago

Letter to the FCA demanding suspension of the trading in the shares of the technically insolvent Supply@ME Capital fraud

The letter is self explanatory and follows yesterday’s article HERE. I shall follow up with a note to the SEC over the weekend. The letter reads:

381 days ago

Craven House Capital – a technically insolvent company without a material uncertainty warning thanks to Zak Mir's pal

https://shareprophets.com/views/77569/craven-house-capital-a-technically-insolvent-company-without-a-material-uncertainty-warning-thanks-to-zak-mir-s-pal

384 days ago

Craven House Capital – a technically insolvent company without a material uncertainty warning thanks to Zak Mir's pal

The loss at AIM listed Craven House (CRV) for the year ended May 31 was $893,000 comprising administrative expenses of $197,000 and $621,000 of negative changes in fair value. Net liabilities on the balance sheet increased from $384,000 to $1,277,000. Net current liabilities were $210,000. The key issue for the company is going concern.

544 days ago

BREAKING: Roquefort Therapeutics – after the Ashington blow up is this crock technically insolvent yet?

I have warned before that Roquefort Therapeutics (ROQ) is a Standard listed crock of shite that will end in tears for shareholders. I now ask the question of whether it is already technically insolvent? That matters given the stink around Ashington Innovation (ASHI).

596 days ago

Vast Resources and the Aprelevka spoof, morons fooled again

As I write, technically insolvent Vast Resources (VAST) has seen its shares surge by 21% to 14.25p on news that it has completed the Aprelevka gold mines deal. It is yet another spoof and here is why.

655 days ago

Valereum another body blow in Gibraltar, just shut this POS down

Shares in Aquis listed Valereum (VLRM) remain suspended on the Aquis lobster pot at just 3.85p. Founder Richard Poulden has scuttled away and the former rampers in chief David Lenigas and brown envelope man Zak Mir who told us the shares would hit either 100p or 200p have gone strangely silent. The company is technically insolvent. Today another body blow…

737 days ago

Supply@Me Capital interims - technically insolvent and material uncertainty over going concern as Zamboni fails to show (SY)ME the money

Today’s interim results from Supply@ME Capital (SYME) have the usual features with the promises of jam tomorrow from the CEO Alessandro Zamboni but in reality, there are tiny revenues of just £77,000, negative gross margins of £108,000, pre-tax losses of £2,561,000, net liabilities on the statement of financial position of £2,146,000 and a material uncertainty caveat over going concern. So very much business, or rather lack of it, as usual.

871 days ago

Vast Resources: bailout placing, still technically insolvent, no news from Zim ( cheque not even in post yet)

What’s not to like? It was back on February 6 that Vast Resources (VAST) said that it had received a Court Order that it could get its mitts on a parcel of rough diamonds stashed in the Central Bank of Zimbabwe and that sent the shares soaring to 0.7p.

885 days ago

David Beckham hyped Guild Esports – the longest fund raise in history is a damp squib & even afterwards Guild is insolvent

It was back on January 31 2023 that Guild Esports (GILD) tried its hardest, but thanks to me failed, to hide from its long suffering investors a warning from its hapless auditors that a fund raise was already underway to keep the Fat Lady at bay. Today that fund raise was finished but what a piss poor damp squib it is. Guild is still technically insolvent.