News on Andalas Energy ( LON: ADL) or AndalARSE as I like to call them, could be about to drop. Investors will remember it traded as the mega ramped pumped & dumped CEB Resources. It was, as CEB, a major disaster for those gullible enough to fall for the bullshit of the BB and twitter P&D crews, who were being whipped up into a frenzy by off record ‘title tattle’ from various people/organisations associated with the then CEB. One moron claimed that Whitby had turned NIDO Petroleum into a $600M company.  While others were spinning it as a $600M takeover. Complete Bollocks.

Under AIM rules the company have to publish a readmission document in a matter of a week or so, otherwise it’s ‘goodnight Vienna’ off the AIM it will go. $600,000,000 fantasy man CEO Dave Whitby, is reputed to be offering all kinds of financial packages on broker fees, warrants and options in-order to grab the cash. The company recently got out of a bankruptcy hole when raising £500,000 of super expensive debt on March 31 2016 – Tom Winnifrith, the respected City of London financial journalist, described it as “The most expensive debt in AIM history”. You can read his article HERE. That debt is convertible into shares if Andalas relists, and the whispers are that the £500,000 now paying for the RTO and bloated PLC costs will not be the only dilution should they relist. A further £2/3 Million of hugely discounted shares may follow. That’s very bad news for those left holding shares in the suspended cashless, asset less, shell.

$600,000,000 Fantasy Man

AndalARSE have no assets whatsoever other than some Indonesian options on options, assignment agreements and concession agreements. Any and all of those paper agreements will cost millions to sign off and work. Money they simply, as of yet do not have. Should they relist with a £2/3 Million super dilution then as sure as night follows day they will very quickly burn through it. The heads of terms agreement signed to acquire a 30% working interest in the aptly acronymic ‘TOE’,  Tuba Obi East oil and gas concession, will relieve them of approx. $1,600,000 which as we all know will rise substantially, this doesn’t add in the bloated PLC and corporate payments going into the pockets of the company and its advisors. Ergo de facto they’ll be looking to raise further capital within a matter of months of relisting.

What’s interesting is that Corsair Petroleum, owned by team Whitby have already pocketed 31,250,000 CEB shares and have share payments waiting of 34,344,865 ordinary shares exercisable at 0.4p per share until the third anniversary of the Assignment Agreement (“Options”). In the event that Corsair is successful in the acquisition of at least one concession, CEB will issue up to 93,750,000 ordinary shares in CEB and up to 103,034,596 Options in three equal instalments. So Whitby, and cronies, in Corsair will be trousering over 270,000,000 shares. For little more than an introduction! Which again will further add to the dilution… and enrich the $600,000,000 fantasy man.

The sensible should ‘Exit left’.

The pump and dump fest from the usual names will begin almost immediately on twitter and the financial BB sites on relisting.

Avoid the Whitby ‘TOE in the AndalARSE’ Do not be suckered into this POS.

Viva

Dan

$600 Million Dollar Fantasy Man. Now wonder he’s smirking!

Followers will recall that we published a piece over the weekend on the sham being perpetrated by the fantasy $600,000,000 man Dave Whitby. You can read that piece HERE.

News has dropped from City of London sources that there’s yet another almighty ‘Kick up the AndalARSE’ on the way for holders of this POS. There’s a massive dilution about to drop. Over £2,600,000 worth of discounted shares at 0.45p-0.50p. That means that shares in issue, if it goes ahead, will be fast approaching 1.5 Billion. God only knows what warrant packages those involved with the massively discounted grab for cash will be.

We do know that Corsair, the private company run by Whitby & his cronies, will trouser approx., 230,000,000 on top of the 31,250,000 shares they’ve already trousered. Punters do not know what other fees in cash Corsair have had? The Reverend Tom Winnifrith has beat me to the line on this. You can read what Tom has discovered HERE

It’s going to be a bloodbath. Those foolhardy enough to have kept holding are now locked into the ticking time bomb that will explode very soon. They’ll need a 130% rise or (and a big almighty non-stop ramping campaign) thereabouts to get back to where it was pre suspension, if they relist at 0.45p/0.5p. Bearing in mind the low quality of the unproved, undrilled, Indonesian gas asset that’s in the pipeline. Value $1,000,000, It’s a case of hope rather than fact that CEB/Andalas will finish the day with a market cap of £20,000,000+. The real post readmission value, is cash at hand, listing value, plus asset. Which is approx. £2.5M. Being generous that equates to an SP of 0.20p or thereabouts.

The Pumpers and Dumpers will be out in force on RELISTING DAY. Remember some of those are sat on massive losses and would eat dog shit live on National television if they thought it would push the SP up.

Stay well clear. It’s a Bloodbath. Get in the popcorn.

Viva

Dan

Thoughts from the Malvern Castle.

Hot footing on from recent success’s at Premier Oil (LON: PMO) bought at 20p/21p. Now trading at 56p and Genel Energy (LON: GENL) bagged at 73p now trading at £1.08P, I thought I’d pen an article for the best site that tells it as it is www.guerillainvesting.co.uk

It’s time retail investors turned away from the pump & dump shite on the Alternative Investment Market (AIM) that are beset by internet trolls and zero in on a ‘nice little gem’ of an oil company.

Get researching LekOil (LON: LEK) I first reviewed them last year when their ownership of the Nigerian OPL 310 asset giant oil discovery increased 70%, after Afren went into insolvency. Catalysts are about to happen very soon, so it’s eyes on.

The time is ready for a major movement in the markets, charts have already got going in favour of the company.  My research indicates that the seller, which held the stock, has been cleared on volume and its blue sky time.

Brief history: (LEK) Lek Oil has its assets mainly in Nigeria with the Ogo offshore light oil field, which has a mouth-watering 1 billion barrel oil in place (OIP) estimate. I’m hearing, through my sources, that new 3D results are coming with the potential to increase by 1 billion recoverable. That is a huge driver of their sp. Even at $40 dollar oil! Their breakeven oil price is sub $30 with a market cap sub £95M.  This asset is the jewel in the crown.

Furthermore the Otakikpo onshore light oil field, in my view, is about to flow within three weeks time producing 5,000bopd light crude with a breakeven of $25, which market commentators believe could increase to a humungous 10,000bopd by 4Q 2016. The latest news from the Otakikpo asset points to volumes significantly exceeding 6,000bopd from one well, this successful test represents another major milestone.

OPL325 is another offshore asset. This time IT’S exploration but there are ongoing farm out talks with major oil company’s which have been going on throughout this year, who are looking at the billion barrel discoveries nearby.

Clearly the balance sheet, unlike other companies in Nigeria, is excellent with zero debt at present. Advanced debt on good terms without equity dilution will fund increased production to 20,000bopd in 2017, if they reach this production figure then their value could head toward 100p, expect an update very soon. It was reported that four financing offers had been tabled, at the recent London presentation, and are being reviewed.

Looking ahead apart from the giant OIP upgrades on both onshore and offshore fields the Ogo discovery itself will be drilled early in 2017, with a giant potential farm out partner for next year being mooted soon. You can bone up on the company by visiting www.lekoil.com

The charts clearly point back to 28/30p, however fundamental’s point to near term events being a driver of the SP.  Put LEK on your watchlist.

Starting orders.

Chris Oil

Dealing Disclosure: I own shares in the companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Tick! Tock!

Sadly for the poor souls suckered into Andalas Energy (LON: ADL) by the $600,000,000 fantasyman, CEO Dave Whitby and his pump and dump gang, news on the current situation has and is being deliberately withheld. Andalas should have released an RNS on Friday 22 April 2016, explaining exactly what the situation was within their company. The readmission document should have been published BEFORE the 22 April 2016. The key word in the RNS of 26/10/2015 is ‘BEFORE’

If Sarah Wharry, the Nomad from Cantor Fitzgerald, and the Andalas Energy fantasyman Whitby, do not update the market by 4pm this afternoon, then this site will unofficially release the news.  It is a disgraceful situation whereby their shareholders are being treated as nothing other than lemmings. Whitby, Brand UK their SPIN DOCTORS and Sarah Wharry have shown no regard whatsoever for their own shareholders. Tick! Tock!

Viva!

Dan

TIDMADL

BNS Number : 666

Andalas Energy & Power

25 April 2016

Andalas Energy & Power

(“ADL” or the “Company”)

Company Update

Continued Suspension of Trading on AIM

BNS

Andalas Energy & Power (LON: ADL)

(“ADL” or the “Company”)

The Company are at present fighting amongst themselves on how to get their hands on a substantial amount of cash which will allow Andalas readmission to the AIM. There is a substantial shortfall in funding. Retail investor interest in taking part in the £2M placing has been cool. We the Board are not prepared, at present, to put our own cash into Andalas because we are here to take money from the company and it’s shareholders. If we put our money in we will be locked in and subject to Director Disclosure rules.

Shareholders are reminded that Pursuant to the RNS of 26, October, 2015 trading in the above named Company should have been Cancelled on 22nd April, 2016.

The Company failed to publish a readmission document before 22nd April 2016. Trading of its shares on AIM should have been cancelled pursuant to Rule 41 of the AIM Rules. However a ‘derogation’ has been sought from the Aim Regulation Team. We have three working days (72 hours) which started from Friday 22nd April 2016.

Should the Company fail on readmission, it is the intention of the Board to seek Relisting for Refleecing of our loyal numpties….  Blah! Blah! Blah!

End of Message….

Now here’s what’s been going on behind the scenes.

1/ The readmission document was not submitted BEFORE 22 April 2016.

2/ There’s been no RNS on any waiver/derogation from AIM.

3/ There’s an internal war going on between the Company and it’s advisors on who, what and where they can get the cash from.

4/ According to the 26 October 2015 RNS, THEIR LISTING WOULD BE CANCELLED if they failed to submit. They have failed to submit.

5/ There’s a big internecine fight going on over funding, fees, warrants, options ‘for the boys’ (Advisors, Brokers, Board etc. )

6/ Whitby & company have so far refused to put their hands in their pockets.

Ergo you can take it as read that Whitby/ADL are in deep shit. Hence why they’ve gone very quiet.

Regardless of the outcome, it’s grim. If they come back it will be at a massive dilution and discount as the hyenas rip out as much flesh (Shares/Fees) as they can. Sympathy to those daft enough to get involved with this POS, GOES WITHOUT SAYING. That sympathy isn’t extended to the BBMorons & pump & dump crew run by Whitby. If they have to relist it will be even worse. The link to the RNS that contains the telling information is below.

“As any of the potential transactions would constitute a reverse takeover under Rule 14 of the AIM Rules for Companies (“AIM Rules”), the Company’s shares will remain suspended from trading on AIM until such time as an admission document is published in respect of a reverse takeover, or the potential transactions cease to be viable. If the Company does not publish an admission document before 22 April 2016, trading of its shares on AIM will be cancelled pursuant to Rule 41 of the AIM Rules. “

Viva!

Dan

Brokerman News Service (BNS)

What an absolute disaster it’s going to be on Andalas Energy & Power (LON: ADL) or as I lovingly call them ‘AndalArse’.

World Famous ShareProphets.

It’s been reported by the ‘world famous shareProphets’ and the highly respected and feared financial journalist Tom Winnifrith that AndalArse are placing at 0.2p. If that’s confirmed later today then that is a Disaster with a capital ‘D’ for their much maligned shareholder base. You can read what TomWinnifrith has discovered HERE

Warning.

There is a stick of financial BMD dynamite that will blow this company and Whitby wide open.  That article will only be triggered if/when they relist or we get clarification of a cancellation of trading.  For the time being our investigation is still on-going. The smoking gun is ready. Here’s a hint. 1/ Where has all the money gone and who has profited from it?

It’s a shocking tale of Whitby corporate deceits and financial ‘miss-direction’

Tick! Tock!

Viva!

Dan

BMD Dynamite!

It’s a shocking tale of undeclared, unsecured loans made by Dave Whitby from the coffers of the then CEB AIM listed company, which recently rebranded to Andalas Energy & Power (LON: ADL). Whitby, who is the CEO of Corsair Petroleum, a private Singaporean company, took control of CEB/ADL on June 5th 2015, on that day he also took control of £1,500,000 of placing cash raised at 0.4p. Within days he had secretly signed off $475,000 in undeclared related party payments in unsecured loans. If you think that is shocking, read on and discover who the unsecured loans went to.

I call upon AIM Regulation to immediately investigate Andalas Energy & Power PLC and it’s disgraceful CEO, the $600,000,000 fantasyman Dave Whitby for accounting FRAUDS he should be suspended forthwith! Their Nomad, Cantor Fitzgerald, Miss Sarah Wharry, (Worry) has been informed, as have the AIM Regulation Team and the FCA Market Abuse bods.

This is how it went.

On 10 June 2015 Whitby CEB/ADL issued Whitby/Corsair (Yes himself & his Corsair mates) with an unsecured loan of $250,000. The loan was to bear interest of 5% per annum payable on repayment of the loan. Full repayment of the principal amount plus accrued interest was to be made by 10 June 2016.

On 15 July 2015 Whitby CEB/ADL issued to Whitby/Corsair another unsecured loan of $225,000. That  loan also carried interest of 5% per annum payable on repayment of the loan. Full repayment of the principal amount plus accrued interest was to be made by 15 July 2016.

Those payments are related party transactions and were never disclosed to shareholders or the market at the time they were made. Just how much of the $475,000 Whitby and Simon Gorringe, who is also on the board of Corsair and the gravy train at Andalas, have taken in payments from Whitby/Corsair is not known. However any payments made by Whitby/Corsair using Whitby CEB/ADL unsecured loan cash must be yet more related party transactions and subject to full RNS disclosure. Nothing, zippo…

The reason Whitby/CEB/ADL gave Whitby/Corsair unsecured loans is quite simple. Corsair haven’t got a pot to piss in and haven’t got any asset/s of value to secure the loans. It is inconceivable that any financial institution or business would advance approx. $500,000 in unsecured loans at 5%.

The questions are many and myriad but will have to wait until later down in this article because folks it gets even worse!

On the 19 August 2015. Whitby/CEB/ADL incorporated a subsidiary of Andalas Energy & Power, another Singaporean company called Corvette Energy (Singapore) PTE. LTD Company registration number 201532252D. Now you would think that an AIM listed company operating on the London Stock Exchange would have RNS’d such. But nay, there’s no mention of the new Whitby/CEB/ADL/Corvette subsidiary. The first inkling of Corvettes existence is six months later, buried in their half yearly report released on 26/01/2016.

Here’s the killer, we learn that Whitby CEB/ADL and Whitby Corsair have now novated and ‘extinguished’ the Whitby CEB/ADL unsecured loans of $500,000 & the 5% interest made to Whitby Corsair. “On 26 January 2016, Andalas, Corsair and Corvette entered into a novation agreement pursuant to which the Loans were extinguished and the benefit of the loaned moneys was transferred to Corvette with effect from 30 October 2015”. So now the unsecured, undeclared loans have come full circle back to Whitby CEB/ADL/Corvette. The burning question shareholders should be asking is this; How much was returned?

Remember, that according to the 2015 annual report the unsecured loans were made with these contractual conditions “The loans bear interest of 5% per annum payable on repayment of the loan/s. Full repayment of the principal amount/s plus accrued interest of 5% will be made by 10 June 2016 and 15 July 2016. There was no mention whatsoever of the unsecured loans being made for Indonesian Due Diligence. It is only when their repayment looms large is it sneaked out that ‘really guys this was for DD’. That throws up a multipule choice of unanswered questions. How were Whitby Corsair ever going to repay? Maybe they were planning to flood the market with the next tranches of ADL shares, all 93,750,000 going to Whitby Corsair that were to be awarded to them on the signing of an Indo’ deal?  Did this plan fall apart during suspension? It’s 8 months after the unsecured loans were made that the repayment goalposts are moved. It is s fraud, compounded by lies!

Canada Dry! Charlatan Exposed!

We learn on the 26 January 2016 that they now were given so that Whitby/Corsair could progress Indonesian due diligence. What a crock of shit. Let’s be generous and say Maybe some of the cash was used but I seriously doubt that all of it was! Are we to believe that Whitby CEB/ADL will force their own ANDALAS subsidiary Corvette, to repay back $550,000 to themselves? When did it change? It’s a sleight of hand. No fooker is paying the cash back because the majority of it has been rinsed out by Whitby/Corsair! What is left is probably a small rump of cash that they once again haven’t RNS’d.  These are ALL material transactions that have to all intents and purposes been sneaked out via the back door. They have been deliberately withheld. They are in effect ‘Back door Director loans’ that will never be repaid. Whitby should resign immediately.

The elephant in the room is this? Where has $550,000 dollars gone? Of course we’ll get the usual spin from Whitby, does anyone now really doubt that what myself and Tom Winnifrith, have wrote on this chump isn’t, in light of yesterdays absolute disastrous placing and this article today, bang on? Whitby is a corporate crook, raping his own shareholders to line the pockets of himself and his fellow Aussie crims.

I contacted Sarah Wharry the company nomad, from Cantor Fitzgerald, Sarah hasn’t responded to my questions. I wonder why? It has to be noted that Cantor were not the Nomad at the time of the undeclared, unsecured related party loans. That mantel fell to Sanlam Securities who, intriguingly, no longer provide Nomad services! I personally spoke to several big private holders of ADL stock who were again, unaware. I spoke to two CEO’s. One stated that he “would never put that to my board because it was wrong”. The other said in answer to my question, are these in your opinion related party transactions? Reply; “Absolutely – is a related party transaction and needs independent written advice and an RNS”. Both of these men are respected CEO’s.

I urge shareholders to contact the relevant authorities with the questions below. Make a formal complaint. A full investigation is warranted. Get the $550,000 dollars back. A full forensic account is needed here!

Questions for AIM Regulation, Cantor Fitzgerald and the FCA Market Abuse Team.

1/ Can you please explain why $475,000 in related party payments i.e Unsecured loans, made by the CEO Whitby CEB/ADL to CEO Whitby/Corsair were not disclosed to shareholders and the market at the time they were signed off? (There was never any RNS’s)

2/ Can you please investigate how much of the unsecured loans made by Whitby/CEB/ADL to Whitby/Corsair were paid in fees/expenses to Whitby/Gorringe by Whitby/Corsair?

3/ I understand that these unsecured loans have now, as of January 2016, been novated and moved into a hastily incorporated subsidiary of ADL. (Corvette) why wasn’t this disclosed?

4/ How much money was transferred by Whitby/Corsair to the Whitby ADL subsidiary Corvette?

5/ How much cash did Whitby/Corsair burn through before the residual amount of the unsecured loan was transferred back to the Andalas subsidiary Corvette?

6/ What has happened to these loans now, will they ever be paid back in full as per Whitby stated in the 2015 annual accounts?

7/ The Company has lied to shareholders and the market, isn’t this sanctionable?

8/ Why was there no RNS on the formation of the ADL subsidiary, Corvette? Surly this is an RNSable event?

9/ Why was there no RNS on the transfer of the loans back from Whitby/Corsair to the Whitby Andalas subsidiary, Corvette?

10/ Why wasn’t the novation and extinguishing of the loans plus interest, disclosed to the market and shareholders?

11/ How much of the unsecured loan cash went into the pockets of Whitby/Gorringe/Corsair?

12/ Why was no information ever given to the market that unsecured loans with 5% interest, were part of a due diligence effort?

And last but not least,

13/ Who signed these unsecured loans off and where was the oversight with the written legal advice as to their legality?

It is only in January 2016 some 8 months later, that we are told that; Andalas and Corsair agreed to structure the funding of the due diligence expenditures as loans (“Loans”) to Corsair” This just isn’t credible let alone believable.

 It seems to me that this is, to all intents and purposes a fleecing of CEB/ADL cash by the executive and should be immediately investigated.

I put it to shareholders that these unsecured undeclared loans were in effect ‘back door director loans’ which have now been rinsed through two corporate entities coming back to ADL’s Corvette subsidiary minus a large amount of cash originally given to Whitby/Corsair by Whitby CEB/ADL.

Basically chaps where has all the money gone?

Viva

Dan

NB. This is what they said in their annual accounts: Published 21 July 2015;

On 5 June 2015 David Whitby was appointed as Managing Director and Chief Executive Officer of the Company. David Whitby is a beneficial owner of Corsair. Through his beneficial ownership of Corsair David Whitby owns 7,812,500 shares in the Company which were issued on 4 June 2015. On 10 June 2015 the Company entered into a loan agreement with Corsair to provide Corsair with an unsecured loan of USD 250,000. The loan bears interest of 5% per annum payable on repayment of the loan. Full repayment of the principal amount plus accrued interest will be made by 10 June 2016.

On 11 June 2015 370,000,000 ordinary shares were issued for trading at a price of 0.4 pence per share, raising gross proceeds of GBP 1,500,000. Of these 50,000,000 were subscribed to by Northcote.

On 15 July 2015 the Company entered into a loan agreement with Corsair to provide Corsair with an unsecured loan of USD 225,000. The loan bears interest of 5% per annum payable on repayment of the loan. Full repayment of the principal amount plus accrued interest will be made by 15 July 2016.

This is what they said in their 2016 half yearly report: Published 26 Jan 2016;

On 5 June 2015, Andalas and Corsair entered into an agreement (“Assignment”) pursuant to which Andalas agreed, amongst other things, to undertake and fund due diligence in respect of certain oil and gas concessions in Indonesia with a view to making an investment. Initially, for administrative convenience, Andalas and Corsair agreed to structure the funding of the due diligence expenditures as loans (“Loans”) to Corsair and, accordingly, advances pursuant to that arrangement were made on 8 May (US$25,000), 10 June (US$250,000) and 15 July 2015 (US$225,000). On 19 August 2015, Andalas incorporated a subsidiary, Corvette Energy (Singapore) Pte Ltd (“Corvette”). On 26 January 2016, Andalas, Corsair and Corvette entered into a novation agreement pursuant to which the Loans were extinguished and the benefit of the loaned moneys was transferred to Corvette with effect from 30 October 2015.

I can’t believe that some people are jabbering on about how great Wishbone Gold ((LON: WSBN) are! I totally disagree with the HotStockRockets team, (whoever they are). The company are all but running on fumes!  It’s a ‘Hans Christian Andersen’ moment. The Emperor has no clothes. The last set of interims state that they had, as of June 30 2015, circa £108k in cash and cash equivalents. A perusal of the last known balance sheet exposes the preposterous ramping that’s going on. Wishbone are a precious metals trading business and a company that need cash and need it quickly.

The company’s’ run by a chap called Richard Poulden, who operates out of Dubai central. Richard has a beneficial interest in 417,226,971 shares.  I don’t know Richard, he’s probably a nice chap, sadly the company he is running is massively over-valued. It’s a dog. The current SP is 0.5p. The market cap is £5,000,000, The question is on what? They’ve stated that they have total assets of £936,393. That figure is wholly miss-leading, and here’s why.  The figure is made up of cash & cash equivalents (£108k). Trade/Receivables (£36,821). Investments held for resale (£384,537), which comes to circa £530k. The rest of the assets figure is made up of ‘hot air’ £406,000 of intangible assets.  Remember this was as of 30 June 2015, so their cash position will be some what eroded as of 10 months further down the time-line. They are running on sentiment and close to bust.

The recent grandiose statement of the acquisition of Precious Metals International Ltd (“PMI”) and its wholly owned subsidiary, Black Sand FZE (“Black Sand”) in an all share transaction is yet another fantasy story being used to ramp up their share-price. Wishbone intend to give 480,000,000 shares for PMI at a price of 0.27p per share, ergo £648,000. A company that made a loss of £5,564 and has assets of £454 quid! Just slightly more than I currently have in my wallet! It’s a joke!

On a fundamental basis the actual value of Wishbone is listing value, £500k and assets £530k, ergo circa £1M. A shareprice of 0.10p.  As for their Aussie assets, unless Richard and HotStockRockets, buy a pick and shovel and INVEST SOME MANUAL SWEAT, then you can right them off. Nil par, no value, zippo! Wishbone Gold are trading at 400% over true value. It should be noted that the last RNS from the company was yet another ‘brouhaha’ over getting into £2,000,000 of debt to keep the company afloat! Who is going to give Mr Poulden £2M? More importantly what is that £2M going to be secured against? The company do not have any thing to secure it! Unless you count the £454 quid in PMI assets….

Wake up. Sell and get out, take your profit and run. As sure as night follows day there’s a massive dilution on the cards here. Indeed, if they don’t place or suck in £2M in debt they will go bust.

With an insanely over-valued share-price it would be insanity for Wishbone to NOT take advantage and place immediately! That placing will be at a huge discount. Placing Ahoy!

Viva!

Dan

Investors were aware that I received £600 from The Times last year, after Marcus Leroux breached my copyright. But unaware that I had made a second official press complaint against The Times regarding the stories they ran in 2015. I made that complaint for several reasons; 1/ To seek answers to unanswered questions on ‘Proposition 1’ & ‘Proposition 2’  2/ To expose the lies and duplicity of the self confessed Drug Dealer the then editor of ShareProphets, Matthew Ben(t) Turney.You can read all about his Drug Dealing HERE 3/ Let The Times & Leroux know that regardless of whoever seeks to demonise me, it will never have any effect on my career, business OR shareholder activism. I am teflon.

Until now I couldn’t write about the complaint due to Independent Press Standards Organisation (IPSO) regulations on confidentiality. The publication of that complaint, READ HERE, now allows me to write this article and name names on the disgusting attempt by two cretinious individuals to extort cash from Sefton Resources, while running a Sefton Shareholder action group.

Charlatan. Inspector Clueless

I am now free to expose the shocking truth behind the attempts by Turney, who was the ‘editor’ of ShareProphets at the time and to use that position, to extract thousands upon thousands of pounds of cash payments from Raylene Whitford, the now disgraced SER CFO.  Yes that’s right Turney who got his 15 minutes of Andy Warhol fame with a by-line in a national newspaper was after Sefton shareholder cash! The then editor of ShareProphets, had teamed up with a chap named Gary Bullivant, a pompous, but nevertheless, distinguished retired army officer living in the lake district. Just quite how Gary ended up turning into a Walter Mitty character and a BBMoron I put down to the corrosive influence of Turney. Bullivants CV as a British Army Officer is second to none. Being a strong supporter of our lads/lasses in uniform, I ‘cut him some slack’ and will not demonise him or release any of his personal details. Rather let him reflect on how he became embroiled with a charlatan. Turney never thought for one minute that the damning evidence would ever see the light of day. He thought it was all destroyed and had got Raylene Whitford to do just that! Not so Mr Turney.

For the record I need to state that Tom Winnifrith and ShareProphets writers were unaware of the cash extortion attempts. (Just as they were unaware of his drug dealing history) Turney had concealed it. ShareProphets and all their writers are completely innocent. In fact when the schoolboy plot to extort cash was brought to the attention of Tom, certain pennies began to drop. Info from SP sources was finding its way into The Times. Turneys days were numbered. Winnifrith quietly eased him out. Back to the Bulletin Boards he went, which is where he came from. Apparently Winnie plucked him off the www.lse.co.uk asylum where he now festers, using a host of fake identities, howling into the madness that holds domain on that site. If you listen carefully you can hear it….. RRR, ADL, NEW, AFPO. But I digress. Back to the article!

Proposition 1 & Proposition 2.

Throughout the 1st half of 2015 Turney had been ‘grooming’ Raylene Whitford SER CFO, as one of his sources, Whitford eventually got suckered into releasing market sensitive and confidential information to Turney on an industrial scale. Folks will remember the volume of poisonous articles on ShareProphets.

When the new team eventually took control after the EGM fight, they found what can only be described as a destruction of company email records. Those records were recovered after they were deliberately deleted. Indeed Bullivant/Turney also implored Whitford to delete all their correspondence. There are literally dozens upon dozens of emails, texts and records of telephone calls between them.  During the investigation, trying to track down where all the cash had gone, they came across an email mentioning a ‘Proposition 1’ this lead to further discoveries of Bullivant/Turney deleted emails and documents. On 1st July 2015 Turney/Bullivant had contacted Whitford with a formulated plan to extort cash from Sefton. That plan was titled “Proposition 1” In Proposition 1 (Dated 1 July 2015) Turney sought payments of thousands upon thousands of pounds for ‘Investigative Services’. The self confessed illegal highs drug dealer, stated that he was working with a ‘Private Investigator’, who later turned out to be Gary Bullivant (Walter Mitty).

The haranguing of Whitford to pay Turney cash continued into September 2015. The pressure must have been immense, remember she had taken the bait passing him inside market information over a considerable period of time. Turney knew this and continued for months trying to ‘charm’ Whitford to get his hands on SER cash. The threat of exposure, by Turney in a fit of pique, as his source must have weighed heavily on her mind.

Gary Bullivant ‘Private Investigator’

In Proposition 2 (dated 15 September 2015) a financially watered down version of Proposition 1, Turney demanded £3,750 and a rate of £350 per day plus expenses. Turney/Bullivant also wanted “a letter of authority to act as a Company agent with regard to this enquiry is issued and that the right to use Company headed notepaper is granted. This use would be subject to all final documents being released to non-Company personnel by an authorised Company employee as determined by the Company. Access to the Company office in London, a desk, computer connection and telephone would be authorised for the investigator”. Looking back at it now it is truly insane, and reflects that of the mind of a nutter who found God while labouring on a building site at a Convent in Sweden. The boyos also promised a “scoping study” but never demanded a cuddly toy! Hilarious.

Fortunately the real power who was running Sefton Resources, and their solicitors, saw through the attempts and killed it off for a myriad of legal reasons. (One being that Turney had sought to corrupt regulated individuals by demanding confidential information from the Nomad).

Copyright Thief Leroux!

It (My IPSO complaint) has been a pain in the arse for Marcus Leroux and The Times editor. But it is now extremely embarrassing for ShareProphets whose editor tried to basically pressure cash money out of a company they were demonising. The IPSO full committee hearing into their practices should serve as a warning shot across their bows. It always comes out in the end. The complaint itself was never going to be upheld. Most fall away and never get to a full committee hearing. Such is the way of press complaints even more so by ex armed robbers.

To get over the hurdles to a full committee hearing the complaint has to have merit. (The complaint I lodged got to full committee) By lodging the complaint and getting it to committee the extent of Turney/Bullivants nefarious activities was disclosed and can now be read by you, the retail investors. It is absolutely shocking! There is a question still unanswered. Just how many companies has Turney tried to extract money from in similar circumstances?

As a post-script it once again high-lights the duplicitous nature of the ‘Chuckle chuckle’ drug dealer come sacked ‘editor’, and self styled ‘investigative journalist, aim investigator, labourer, failed businessman and drug dealer’, It’s a dirty, dirty game this AIM!

Take a bow Inspector Clueless, Matthew Benjamin Turney.

Viva!

Dan

It’s looking very bleak at Andalas Energy & Power (LON: ADL) and It’s only going to get worse. I can exclusively reveal that Aim Regulation and their Nomad are investigating the company. Complaints have been lodged and the AIM Regulator is “Taking note” of those complaints! You can read all about some of the fraud by clicking HERE

As I watch their sp tumble towards the yet to be approved placing price of 0.20p, I can’t but help wonder what will happen when/if it goes sub placing price? The news from the city of financial shame, London, is that they will try to readjust the placing price further down! Yes suckers who are provisionally pencilled in for their allotment of stock may get more shares at a marked down price. Rumour is that it could be 0.15p.

I spoke to several sources yesterday one said that phone calls, emails and text messages had been flying back and forth over the last few days between the company, nomad, brokers and the market makers in a desperate attempt to “Hold the line” keep the SP above the 0.20p placing price.  Andalas are on “Life Support”. Another had taken calls from known pumpers and dumpers screaming “Blue murder” on how they’d been “Shafted” by the brokers. A completely utter crock of shit. Brokers are their to make money for their clients, whoever they are. If there’s no stomach for a placing at nonsensical prices then they, like every business have to knock the price down. Supply and demand chaps. It doesn’t matter if you think you’ve got gold and tell every mug punter and BBLoon, what counts is what they are prepared to pay. Quite obviously no one was prepared to pay the nonsensical amounts ramped out by the pump and dumpers on social media, ergo you get what you can. The people who “Shafted” retail investors are the Board of Andalas and their pump & dump cheerleaders. We all know who they are!

Under Pressure!

Back to Fraud.

Just quite what has been going on within the company at this present time, one can only hazard an educated guess. But the pressure is now on the bullshitter and fraudster CEO Whitby to explain away (Among other things) why loans of $500,000 he made to himself via the Corsair Singaporean shell were extinguished. Get out of that one Dave and you can take the name ‘Houdini’. With the weight of  2,448,138,803 billion shares around his neck, he is sinking. I don’t think investors in AndalARSE will be seeing Dave for quite some time. Nudge nudge, wink! Wink!

Viva!

Dan

It’ a sorry tale I tell this afternoon on Sula Iron & Gold (LON: SULA).  Sula are a serial failure who over the many years have never attained anything of true value for their share-holders, other than continual dilution and placing after placing. In fact they are little better than a Lifestyle company. I have more gold on my little finger than this lot have ever produced.

Investors need to be aware of exactly how the Board operate and how they continually raise cash and dilute to keep the lights on. Take for instance the recent placing on 10th March 2016. Billed as an existing Institutional/Cornerstone Investor taking yet more stock. We are told in that RNS that the ‘Institution’ also took part in the fundraising in October 2015. How much of the 166,666,664 shares issued in that placing wasn’t disclosed nor indeed was their name. Take a bow Jub Capital. Who in the March 2016 placing took 118,750,000 new ordinary shares at a price of 0.16p per Subscription Share. In addition to 65,312,500 ‘warrants’ were also granted at a price of 0.16p per share. Now fast forward to 24th February 2016 placing.  A placing of 181,250,000 new ordinary shares of 0.1p each in the Company at a price of 0.16p per Placing Share. In addition to the Placing Shares, 90,625,000 warrants were also granted to placees at 0.16p per share. How much stock Jub took in the 24th February 2016 placing again isn’t disclosed nor again are they named. What we do know is that they took part.

‘Socialite’ Adam. Institutional Trader NOT Investor

The majority of that stock taken in the above three placing’s has been quietly drip fed into the market and unsuspecting retail investors. And will continue to be sold down. I spoke to the head honcho, ‘Dashing’ Adam Dziubinski, this morning. He confirmed that his company/clients now hold approx.’ 80 million shares. Which begs the question; Just how many shares have they sold into the market? They took part in at least two/three placing’s and have been and continue to quietly off-load Sula shares. You maybe wondering with such a large chunk of Sula why no notifiable RNS has ever been issued. I’ll tell you. The ‘Institutional/Cornerstone Investor’ purchases the stock and splits it into batches under notifiable thresholds for themselves and their ‘Clients’. All quite legal, but extremely disingenuous. This allows them to sell without having to notify via RNS.

Jub Capital are NOT a cornerstone Investor they are trading the stock at each and every opportunity, to make their margins. That isn’t investing it is trading/flipping, below the radar and should be disclosed at the time of their purchases. i.e. they have bought them to trade NOT invest! The playing field needs to be levelled. It is Institutional trading NOT investing and should be declared as such.

In the space of approx. seven months the Sula CEO Nick Warrell has raised ‘in discounted placing’s’ £1,500,000 and if my sources are correct they will place yet again in the not so distant future, probably after the City boyos have sold out their ‘Institutional/Cornerstone holdings’! That placing will again be ‘discounted’. If their share-price stays were it currently rests the placing price will be circa 0.10p.

Fore-warned is fore-armed.

Viva!

Dan

Just read the Sefton Resources update released HERE. What an absolute fantastic 6 months Clem Chambers and Mike Hodges have had. The SER reconstruction has now begun in earnest. It’s taken some time but believe me it is well and truly on track.

From what I can gather $75,000 has been recovered from their insurers/solicitors as well as a thumping $140,000 damages and costs order awarded against the vexatious Jim Ellerton. The management have secured the award in a lien against Mr Ellertons Hawaii residence. A quick check of Hawaiian state law shows that the lien accrues at 10% per annum which compounds i.e. after 12 months it’s 10% on $154,000 etc. So Jim I suggest you or your estranged missus get the house up for sale, otherwise it’s just going to bleed you dry at 10% compounded over every year. Or maybe we can all head over to Hawaii and get Jimmy to put us up for bed and breakfast and knock it off his lien lol!

More good news comes in the shape of the sale of the poor Kansas assets. All liabilities are gone, some-where between $500k-$1,000,000, wiped off the books and $5,000 in cash. Good news again, the third and final court case from ‘the Jim’ is to be covered in full by their insurance. Again when successful yet another order for damages and costs will hit. Which means so far in 6 months Hodges and Chambers have secured for shareholders most importantly the Company from administration, two court victories, and approx. $250,000,  give or take when the lien kicked in or if interest is back-dated etc. That should show in the accounts as a net increase in cash and cash equivalent’s of at least $220,000. For the first time in its long and dark history Sefton are genuinely in the black.

Which begs questions; Why did the disgraced Raylene Whitford and the Nomad Allenby Capital not do what Chambers and Hodges have done?  Fight Ellerton and insist that the insurance providers cover all the costs? Why did they spunk away hundreds of thousands of dollars of share-holder cash in legal bills when, as Mike and Clem have just shown and fought for, the insurer should have covered ALL costs?  It’s yet another vindication of the fight to save Sefton from the dogs who were raping the company coffers. The corporate jackals and the 40 consultants and advisors.

Sefton is in safe hands as the reconstruction continues. It’s looking mightily far more healthier financially than at any time under the disgraced previous board.

Who knows what the next 6 months will bring? The return is on track.

Viva!

Dan

I’ve never wrote a piece on spread betting tiddler London Capital Group (LON: LCG) before but feel it’s time investors became aware of the tricky situation they’ve now gotten themselves into. CEO, Charles Henri-Sabet (double barrelled surname to boot) and his backers at GLIO are between the proverbial rock and a hard place regarding convertible loan stock they used as they attempted to gain control of the Company in 2014. Sabet has been a disaster for shareholders. LCG have cratered by over 75%.

LCG now propose raising approx £14m! See the RNS of the 21^st July ( HERE) and don’t forget to have a good read of their last set of financials HERE An absolute litany of corporate greed.

 The trashing of the stock price to 5p set against the Convertible Unsecured Loan Stock (CULS) conversion price of 25p served to put GLIO Holdings Ltd and Sabet in a tricky spot re gaining control of the company (over and above the Board control). The proposal to issue new stock will result in circa 65% & 85% of the enlarged share capital at a price of 5p per share being in their hands. This is nothing but in effect a de facto takeover of the Company yet another cash and grab for the boyos. Screwing current shareholders. Recent results reveal net book value adjusted for intangibles was £8.2m – nearly 10p per share. It is an absolute shocking derogation of duty for non executive directors to wave through a Concert Party who are forking out a miserly 5p And how in the name of God has this got past the FCA? The deal also sees them issue a further potential 7.096m shares to GLIO for the “underwriting “ of the ‘takeover’ (depending on the amount not taken up in the open offer) as well as a further 18.65m “interest”” shares on the CLN redemption. What this proves is total disregard for all stakeholders ,other than themselves!! How has this got approved?

There is no immediate need to raise capital and certainly not at such a piss poor price. The reasons (bullshit) being trotted out?  Growing revenues and a commensurate increased capital base requirement. WELL IF THE ‘REVENUES’ ARE INCREASING WHY THE HELL DO YOU NEED TO RAISE CASH?

“Against this background, the Company believes that its Tier 1 capital ratios should be strengthened so that it is able to take advantage of its restructured platform in order to grow and improve its trading results.”

Running a business isn’t difficult, you don’t have to be a ‘Brain Surgeon’ to know that the best way would have been to wait until business has banked the ‘Growing Revenues’ ergo the share price rises and you can raise at a much higher price which is less dilutive. Common sense! The facts behind the capital raise just don’t stack stack up. It stinks. So what’s the reason/s? Maybe this?  “Trading in the second quarter, however, has been noticeably weaker due to a lack of volatility and concerns about Brexit, reducing clients’ propensity to trade”. Corporate codswallop! The NED’s should hang their heads in shame. Change is needed here.

Sabet has no regard whatsoever for LGC SHAREHOLDERS the board is populated by yes men, lackeys! Genuine independent oversight does not exist. The board should resign. In the latter’s case, to simply put their name to what is a ‘take under’ at less than the current net book value is shameful. ‘Of course it’s par for the course’ with this board the recent admission that the LCG NED, Frank Chapman was UP TO HIS NECK in yet another ruinous company comes as no surprise. Mr Chapman was a non-executive director of ‘OF Holdings Limited’ (formerly Oxygen Finance Holdings Limited until 5 May 2016), when it was placed into administration on 25 February 2016. According to the joint adminstrator’s statement of affairs dated 11 March 2016, the company as at that date estimated a deficiency to creditors of approximately £342,000. The estimated total deficiency as regards members was approximately £352,000′ What a shambles but it is indicative of the wholesale disregard these fookers have for their own share-holders.

VOTE NO TO ALL RESOLUTIONS ON THE 6^TH JULY.

Issuing stock below their nominal value requires court approval. The EGM is to be held on the 6th July 2015. The scumbags need 75% of the votes on the day in order for the resolutions to pass and the company to be gifted to Sabet and GLIO at a massive discount to book value.  If these guys want LCG then they should be willing to pay a premium over net book value of 10p. 12p at the very least! 

It’s up to you to kill off this scandalous EGM.

Vote ‘NO’ to all resolutions.

Viva!n

Dan

City sources have confirmed that there’s a whisper (Strong)  gathering momentum that Lenigas is in detailed discussions to take back full control of LGO Energy: (LON: LGO). Investors will recall that he stepped down as chairman of UK Oil & Gas (LON: UKOG) in July 2015, explaining that it was usual for him to hand over control once companies “have reached a statement of maturity”. He quit LGO Energy, formerly known as Leni Gas & Oil, in 2014.  Two years on, the Trinidad oil firm has hit new lows. Their share price has cratered from 7p to, one sixth of a penny, 0.17, under the disastrous captaincy of the hapless and clueless Neil Ritson. Who employed the disastrous and deceitful disgraced ex Sefton CFO, Raylene Whitford at Solo Oil and Gas only to sack her for once again leaking inside information to the enemies of Big Dave.

David Lenigas sensationally quit the AIM Casino some six/seven months ago stating that he wanted to ‘concentrate’ on Lenigas Cuba. My understanding is that he was coming under increasing pressure from AIM regulators regarding companies he and the ‘Jermyn St Mafia’ were involved with due to literally dozens upon dozens of nasty articles and emails sent to AIM Regulation and company nomads, making all kinds of, in the main, malicious allegations. I think most know who these characters are. Those specious allegations have now all been proved to be the ramblings of serial online mental defectives.

I believe the Big Man decided to take a break and regroup his forces.

Those forces are now set to take back what Mr. Marmite should never have let go.

Viva!

Dan

The post Breaking News! The Return of Lenigas at LGO Energy. appeared first on Guerilla Investing.

As most investors know I’m in a concert party that owns just over 3% of Antrim Energy (LON: AEY). We invested in AEY due to their strong balance sheet. Antrim have approx. $12 million dollars in cash and cash equivalents  on their book. No debt and asset/licence interests in Ireland and the UK Offshore. There’s the Frontier Exploration Licence (“FEL”) 1/13. The Fyne Licence, P077 Block 21/28a and Erne Licence P1875 Block 21/29d. All three are 100% owned by the company.  Within one of those licence areas there’s a highly prospective resource of 1.1 Billion barrels of oil. known as the Skellig Block, in the Porcupine Basin.

“The Company has identified two highly prospective Jurassic fault blocks and one Cretaceous submarine fan system in the FEL 1/13 Licence, as well as numerous other leads. FEL 1/13 has a 15 year term, with an initial three-year term followed by three four-year terms. The initial three-year term expires in early July 2016 and Antrim has submitted a request to extend the first exploration term by an additional two years and this request requires the approval of the Irish authorities. The Company is also currently seeking a new farm-in partner and operator to complete any additional technical work necessary during the period of any extension granted by the Irish authorities with the ultimate goal that a well commitment could be made at the end of the revised first exploration phase.” 

Over recent months we have been in contact with the management and stakeholders. Notably Hedgehog Capital who it must be said have failed to add any thing constructive.

Now here’s the way forward for Antrim. As I see it there are three ways for the company to go. 1/ Get moving on progressing FEL 1/13. 2/. Resign and let new blood take over (You’ll remember that Sound Energy recently made a Takeover approach. I’m sure they would come back. 3/ (In my opinion the best way forward) Dissolve the company and return all cash and cash from asset/s sales back to their shareholders. This could return 4p-6p to their long suffering shareholders. I must point out that we have made our position very clear to the company.

So it’s over to 3 salaries Anthony Potter the Antrim Energy President, Chief Executive Officer and
Chief Financial Officer. Get the Antrim Energy House in order otherwise it’s a potential EGM situation looming large Mr Potter.

Viva!

Dan

The post Antrim Energy 4p-6p Return of Cash to Shareholders? appeared first on Guerilla Investing.

Once again yours truly has been proved 100% correct. We predicted that as soon as the consolidation was completed over at Nostra Terrible Oil & Gas (LON: NTOG) that the pump & dumpers would be out en-force and the company would then revert to type and begin the usual raft of dilution and placings. That raft of placings and dilution has now begun in earnest. There will be more placings and more dilution. That is 100% guaranteed by the Nostra Terra ‘form book’.

Today we learned that Matt Lofgran, CEO of NTOG, has yet again diluted and raised £250,000. A keep the lights on placing while they await the cash from the sale of Chisholm Trail and the disastrous Egyptian East Ghazalat production revenue, that has still not landed. What’s galling genuine share-holders is that the sale of assets such as CT, which has had millions upon millions of dollars spent upon it, has been sold off at a huge loss.  There’s growing evidence that more assets may have been sold off without market notification. NTOG should come out and clarify share-holder concern that other assets have been sold and not RNS’d. After all if they were announced via RNS when bought then they should be announced via RNS when sold.

I used to have a good relationship with Mr. Lofgran, who I still believe is a good guy, sadly the way he was cosying up to the Mike Whitlow (a.k.a Doc Holiday) pump and dump gang that operates on twitter has now lost the support of myself and many others. Basically what happened was that Whitlow was beginning to dictate to Matt what he should do. In one instance he demanded that Nostra remove their logo from a website that CaliforniaJoe and ABM McKinley (2 Good Guys) were trying to build. Lofgran contacted the guys and told them to remove the company logo. That for me was the last straw and I withdrew my support for the company and sat back to watch it burn, as it is now. In fact we later found out that Whitlow had contacted every company that these guys were working with, making scurrilous, malicious accusations of a sexual nature and drug dealing which were wholly untrue. They were malicious and without one shred of fact whatsoever. Lies. The tirade of abuse from Whitlow on twitter ended up with twitter banning him. Of course he then tried to set up a base on Instagram which ended up in the toilet. He then crawled out from under his rock back to twitter with a new account. Hilarious….

These are the people who are now dictating Nostra policy.

The nomad has to intervene here and should check exactly what communications have been passed through email and telephone calls. The company’s relationships with these pump and dumpers needs investigating.

It’s time Matt Lofgran realised that when you lie down with dogs you get up with fleas.

Viva!

Dan

The post Nostra Terra in the grip of the Pump & Dumpers! appeared first on Guerilla Investing.

It’s a sad day today as I expose a man I personally had faith in as one of the ‘Good Guys’ who like many before him has now been pulled over to the Darkside of AIM. Matt Lofgran has been involved in what is little better than a Faustian Pact, helping to facilitate shorting his own company for personal financial gain while at the same time promoting it as a good investment to his shareholders and potential shareholders. That is a disgrace and his position is now untenable. He has to go. 

Regardless of how he will try to spin it he has while facilitating shorts with Yorkville/YA Global made huge financial gains. Documents now in my possession and independently verified as genuine which have been cross referenced with historical company and FCA information show unequivocally that shareholders were being shafted by Lofgran. The facts are set out below.

On the 29-Jun-2012 Lofgrans’ warrant exercise of 217,842,506 shares at 0.10p of a penny was funded by a loan from Yorkville. The value of that loan was  £217,843. The value of the stock on that day was £1,198,134. On the 23-October-2012 Lofrgran loaned to Yorkville (Notorious and well known stock shorters) 155,000,000 shares. The transfer of that stock was made at a circa 17% discount to market value on the day, shareprice 0.324, value £502,750. The actual market price on 23/October/2012 was, shareprice 0.39 value £604,500. In the RNS of the 23rd October 2012, we are told this; “The Loan Shares will be redelivered by Yorkville to Mr Lofgran at the end of the Lending Agreement arrangement”. That infers that the full 155,000,000 shares will be returned. Not so! This was a lie.

In the RNS of 7th October 2013 we are told this; “On 4 October 2013 Matt Lofgran, Chief Executive Officer, received from YA Global Master SPV Ltd 83,956,296 ordinary shares of 0.1p each in the Company. On 23 October Mr Lofgran loaned 155,000,000 Ordinary Shares to YA Global (“Loaned Shares”). Following the full repayment of the secured loan note between YA Global and Mr Lofgran, YA Global no longer has a fixed charge over any shares in the Company and no longer holds any Loaned Shares.”  Lofgran never paid any money to Yorkville regarding the loan, as the above implies, Yorkville sold 83,956,296 shares to recoup the loan value and interest. Not one single penny came from Lofgran to fund the warrant exercise. It was a sleight of hand.

At the time of the above transactions Yorkville were actively using the Loaned Shares to short Nostra Terra Oil & Gas (LON: NTOG) as evidenced on the FCA website HERE  They held 4 shorting positions. For a CEO of a London Listed Company to get into bed, for personal financial gain, with a fund that uses the CEO’s stock to destroy share-holder value is an act of betrayal.

Yorkville (after shorting the stock) returned a portion of the Loan Shares to ML (Settlement Shares). The portion of shares not returned but instead kept by Yorkville were then sold by them to recover the cost of funds loaned, plus interest charged at 24%.(Annualised at 19% per annum). For the avoidance of doubt: Yorkville charged 24% interest, made a gain on the stock which they shorted and recovered loaned funds in full. The shorting was value destructive to the shareholders and arose on the back of a personal loan made by Yorkville to ML. When you take the shorter’s shilling you sing the shorter’s tune.

And it get’s even worst. The value of the Loaned Shares were underwritten by a director’s loan of £503,000 from Nostra Terra so Lofgrans exposure was nil. From a cash and accounting perspective in the books of NTOG it is unclear how the settlement of funds was recorded, being either: – a cash paid settlement made to ML from a subsidiary of the Company (perhaps Horizon?); or more likely… – a non-cash settlement which would have given rise to an undisclosed gain of GBP 180k in the books, thereby understating the losses by more than 10%. It needs to be noted that Nostra then went on to issue yet more shares, 123,000,000 shares, to Yorkville via the re-jigged SEDAR. Value of those shares? £503,000

During the period of the transactions with Yorkville from the 29-Jun-2012 to 7 October 2013 the Oil price (WTI) ranged from $85.04 to $103. Yet the value of NTOG dropped by as much as 29%. That was a direct consequence of the Yorkville shorts. Despite the disingenuous and duplicitous cheer-leading and promoting. Shorting which Lofgran must have known about and was PARTY TO IT. It was value destructive for NTOG share-holders. The actual value erosion over the 15 month period was circa 53%. Lofgran sought to self enrich himself at the time of the warrant exercise to the tune of £980,291.

For the CEO of any company to enter, knowingly or unwittingly, into what can only be described as a shocking betrayal of his shareholders is testament to why Nostra Terra are where they are today, in the toilet.

Matt lofgran’s position is now as already stated in this article ‘untenable’ he has to resign. He can go quietly or kicking and screaming into the night protesting his innocence. For a CEO to become embroiled for personal financial gain with a fund that uses his shares to short his company while destroying value for his Shareholders is an act of betrayal that cannot be rectified other than by a resignation.

Viva!

Dan

N.B Sources and References below.

Source / reference Stock shorting open “Short positions spreadsheet” link in the following:

https://www.the-fca.org.uk/markets/short-selling/restrictions-prohibitions

http://www.investegate.co.uk/nostra-terra-o-g-co/rns/exercise-of-directors-warrants-and-associated-loan/201206291252515096G/

Transfer of Loan Shares http://www.investegate.co.uk/nostra-terra-o-g-co/rns/operational-update/201210231130083219P/

Transfer of Settlement Shares http://www.investegate.co.uk/nostra-terra-o-g-co/rns/increase-in-director-shareholding/201310070700078438P/

2012 annual accounts http://www.ntog.co.uk/media/pdf/ar_2012.pdf

2013 annual accounts http://www.ntog.co.uk/media/pdf/ar_2013.pdf

The post Exposed the Nostra Terra Shorting Scandal! appeared first on Guerilla Investing.

It would appear that the dirty tricks now being deployed by Nostra Terra Oil & Gas (LON: NTOG) to wriggle off the shorting hook has sucked in Tom Winnifrith. News has reached me that shareProphets has backed Matt Lofgran the embattled CEO, who has been caught with his ‘shorts’ down and as TW says if true has to RESIGN. Would this be the shareProphets that’s taken tens of thousands of pounds in ‘fees’ from the said company for presentations, donations? You take the Company shilling you sing the company tune.

Once again poor Tom has been spoon fed utter shite from Nostra and here’s why.

The above are HISTORICAL SHORT positions DISCLOSED on the FCA website as of today, yesterday and when they were declared in 2012. You’ll notice that each short position has increased. Those short positions were held at the same time as Yorkville/YA Global, one in the same company, held 150,000,000 million shares loaned to them by the Nostra CEO, Matthew Lofgran. Yorkville are notorious known Death Spiral shorters.

It’s quite simple to resolve. Nostra Terra should release an official RNS after contacting the FCA telling the FCA why those SHORT positions disclosed by the FCA are wrong, stating that at no time whatsoever did Yorkville/YA Global hold ANY short positions in their company. Then explain to the market and the FCA just what in God’s name the Yorkville/YA Global short positions DECLARED on the official FCA website are? They’ve been there for 3 years. Extremely difficult to find but there none the less. Are we to believe that Nostra never knew of their existence?  Is it all a Bobby Ewing shower moment? Are we to believe that Lofgran loaned 150,000,000 million of his shares to known market shorters just because he liked them? Pray tell us Mr Winnifrith? Or is it a case of ‘Occam’s razor’ which is thus. The most logical and simplest explanation is the truth?

Or maybe a drunken official at the FCA or Yorkville after having a slice of Tom’s delicious pizza, lost the plot, not once or twice or three times but four times over a period of six days made fraudulent SHORT DISCLOSURES miss-leading the market in 2012…

I eagerly await the RNS.

Viva

Dan

The post The Nostra Terra Shorting Riddle Explained For The Benefit of Tom Winnifrith. appeared first on Guerilla Investing.

As most of you already know Nostra Terra Oil & Gas (LON; NTOG) CEO Matt Lofgran is now mired in a shorting scandal. That scandal in a nutshell is thus;  Lofgran borrowed money from Yorkville (Known Death Spiral Shorters) to buy shares. Having bought the shares he then lent some of them to Yorkville. Yorkville shorted those shares using the CEO’s loaned stock and when they closed their short positions returned some (but not all) of the shares back to Matt. The shares which Yorkville kept they sold and ML didn’t have to repay the loan he took out. Not one single penny came from Lofgran.

At the time of the shorting Lofgran was heavily promoting NTOG. Knowing full well that Yorkville/YA Global were shorting them using his ‘loaned stock’. At the time of the warrant exercise Lofgran stood to make close to £1,000,000. In the RNS of  7th October 2013 Lofgran again lied to the market, which declared an increase in Lofgran’s holdings of 83,956,296 when in fact his holding had decreased by 71,043,704. You can confirm that HERE  Loaning 155,000,000 shares then getting back 83,956,296 shares isn’t an increase in your holdings it is a DECREASE.

The post The Nostra Terra Oil & Gas CEO Shorting Scandal. FCA Investigating. appeared first on Guerilla Investing.

I find myself in a decreasing circle of people and companies who act with some semblance of integrity. The deceits some have tried to perpetrate over the years never ceases to amaze me. Thus so the utter nonsense that is currently being pumped out regarding the classic pump and dump of the worthless Mkango Resources (LON: MKA).

A brief history of the company; Mkango was originally incorporated under the name Alloy Capital Corp.  on November 13, 2007. On December 20, 2010, Alloy was acquired through a “reverse takeover” by Lancaster Exploration (“Lancaster BVI”). The articles of Mkango were amended to change its name from Alloy Capital Corp. to Mkango Resources Ltd. Mkango Resources commenced trading on 5 January 2011 on the Canadian TSX ventures market. The Company have two 100% interests in rare earth prospecting licenses in southern Malawi, the Thambani licence and the Phalombe licence.  MKA have during their time on the Canadian market raised millions of Canadian dollars on the back of the above two licences. So just why have Mkango now listed on AIM? Answer, they couldn’t raise any more cash in Canada, the company were basically bankrupt. Their 31, March 2016 quarterly update makes this abundantly clear. They had $87,000 left in the till with a deficit of over $11,000,000. And a quarterly cash burn of $214,863. Most of that cash burn was director/administration fees. The Canadian retail investor brigades had worked out that they were a POS. Enough was enough. To put it in a nutshell. Unless Mkango got a listing on AIM, then they were BUST.

So folks they moved the ‘Mkango Show’ to the AIM Casino.  A troubled time they had with the regulators during their AIM IPO which eventually lead to a 3 for 1 consolidation and a £1 million placing at 3.3p per share.  Now here’s the rub of the green. There’s an orchestrated pump and dump/promote being perpetrated here by Jub Capital, come on down Adam Dziubinski, who was instrumental in bringing this failed POS to the gullible UK retail Muppets.  Dziubinski is in control of the Mkango twitter feed and regularly contacts the P&Ders. We have it on good authority that certain well-known pump and dumpers have been enlisted to ramp up the MKA share price by Jub Capital. You can watch it in real time on twitter & the BB ‘s. Some may have been given financial inducements. One poor sap has been coerced into buying stock from Dziubinski to keep the sp up!

You’ll all recall that Dziubinskis’ Jub Capital, market themselves as ‘Institutional Investors’ in piss poor stocks such as Sula Iron & Gold (LON: SULA), while all the time quietly flipping out the stock and taking profit. Institutional Trader is more apt. How many Sula shares does Lube/Jub Capital now hold in Sula? Not many. Retail investors got turned over and were left holding the baby…. And retail investors are being turned over by Jub Capital/Dziubinski yet again in Mkango. It’s a shitty game is AIM….

This is exactly what is occurring here. It is the same people using the same modus operandi to stitch up retail investors with a cock & bull story of rare earth mineral riches in darkest deepest Africa. They spun this fable in Canada for 6 years and have now come to the UK spinning utter shite.

Songwe. Hill of Beans.

The cost of progressing these licences, is in the tens of millions of pounds, a minimum of £30,000,000 is needed. There is no infrastructure whatsoever.  The areas where the licences are held are notorious for flooding, bridges, roads and indeed villages are regularly washed away. Take some comfort there are some dirt tracks! Songwe Hill is exactly what it says, a hill in the jungle. A hill of beans.

Take a good long look at the google earth picture in this article of Songwe. Can you see any kind of infrastructure or indeed any kind of mining works? $11,000,000 and 6 years later and still rising, there’s absolutely nothing there. That is the same for the Thambani licence. Mkango are a paper mine. It’s a dream being perpetrated on the gullible. The only thing being mined here are the retail investors.

Spot the infrastructure?

At current cash burn and with historic liabilities settled, Mkango Resources have approx. £500,000 left in their kitty.  They are hugely over-valued and need funds to keep the lights on.  Hence the pumping and dumping promote. They have released no less than five non regulatory RNS promotes over 6 weeks. You can expect a placing here as soon as they can get away with it and their Nomad gives them the green light, regardless of the shite they have told investors in their IPO  Mkango are here for one thing and one thing only; more of your money. The actual value of the stock is circa 1p that’s cash in hand and value of their listing. I assign no value to the ‘Licences’ as they are as far away from production as a company can be.

An interesting point investors should read is the CAUTIONARY NOTE (Get out of Jail Card) at the bottom of company RNS’s

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, delays in obtaining financing or governmental or stock exchange approvals. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Corporation undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

It’s a pump and dump stock. Expect massive dilution and lots of ramptastic horseshit along the way.

Invest or trade here at your peril.

Viva!

Dan

The post Mkango Resources. A Real POS Exposed! appeared first on Guerilla Investing.