I've explained this multiple times. I'm very interested in VLRM, not as a potential investor, but as an example of a shamelss AIM pump & dump.
I would disagree that we're "broken records" as the discussion points are quite varied - and never convincingly rebutted.
If there's any repetition it's because threads keep mysteriously disappearing.
https://www.lukoil.com/PressCenter/Pressreleases/Pressrelease?rid=600027
537 rubles per share: equates to over 10p per JRS share.
RP really needs his arse smacked for that tweet.
"For those not on the Mattereum chat, here is Vinay confirming that Valereum disappeared from the partners page due to an admin issue. No reason to read too much into why we are no longer listed as a partner on the website (at the moment). "
From Oct 4th. Valereum still hasn't been restored to the partnerships page.
If there's no gold in that core then RP needs to be disqualified IMO
"Single figures at this rate"
"Lower your average then. SIMPLE"
Reminds me of the old Simpsons episode where they try to dig their way out of a hole.
https://youtu.be/_znElks13UA
Natch the announcement that the Richard Poulden/ Dave Lenigas sham that is Valereum Blockchain (VLRM) has signed up a new strategic advisor was signed off by corporate advisor Peterhouse but it is the directors who took responsibility and they should be ashamed. Here’s why.
On 13 June 2022 Valeriuum announced:
Valereum Appoints Leading Global Consulting Firm Z/Yen Group as Strategic Adviser to Assist with the Gibraltar Stock Exchange
Wow that sounds impressive. We are also told by Z/Yen Group boss Professor Michael Mainelli:
“We have watched Valereum's GSX project with interest and look forward to being part of building a new and vibrant exchange in Gibraltar."
“Z/Yen Group is the City of London's leading commercial think tank and venture firm promoting societal advance through better finance and technology. Founded in 1994, Z/Yen applies its Z/EALOUS risk/reward methodology for financial centres, banks, investors, corporate treasuries, information providers, exchanges, insurers, trade associations and alternative risk vehicles. Z/Yen's strength is in financial services strategy, intelligence, and research. Major clients of Z/Yen in the financial services sector include many of the senior stock exchanges and many of the world's leading banks. Z/Yen combines statistical, economic, and regulatory skills to develop unique offerings across financial markets, ranging from traditional stock and commodity exchanges to insurance, reinsurance, investment management, pensions, gambling markets, or crypto assets.”
That all sounds jolly impressive and like a real independent validation of Valereum. But hang on Henry, that name Michael Mainelli sounds vaguely familiar. Let’s do a google search.
Well for starters, the last posted annual accounts of Z/Yen are for calendar 2021 and show a loss before tax of £163,521 on revenue of £884,695. That is not the sort of numbers I’d associate with a “global consulting firm” and if those numbers make Z/Yen “the City of London’s leading commercial think tank and venture firm” I’d hate to see what the rag bag also rans look like.
Oh, and that name Michael Mainelli really does ring a bellow. He is, like me, a good Irishman and has a few other corporate hats to wear.
For starters he is a non executive director at Wishbone Gold (WSBN) a company where I am a loyal shareholder and where the boss is er…Richard Poulden.
It gets better. Two name changes ago Valereum was on the AIM sewer before being slung off. It was then called PCG Entertainment (PCGE) and the boss was er….Richard Poulden. And om its board until the collapse of a failed merger with Justin the Clown’s Vox Markets and Richard Jennings Align Research was er….. Michael Mainelli.
In light of all of these related party links and the less than impressive financials from Z/Yen do you consider that this amazing third-party endorsement of Valereum was really that amazing? And thus, would you say the release was balanced and 100% fair?
Natch, the penny share hustler Lenigas retweeted this adding his own spin.
Richard. I know the guys at First Sentinel. They understand our VLRM space well and have good institutional horsepower for when GSX deal is approved. And they are also a sponsor on OTC Markets. Great work.
Today Aquis Regulation has forced Velarium to fess that, in fact, Peterhouse resigned with immediate effect. First Sentinel was able to hop on board within 48 hours – with Poulden sitting on the resignation bombshell - because Valereum has already been talking to it. And the reason it had been talking is because Peterhouse, to its credit had kicked up a fuss about a number of announcements including the Michael Mainelli spoof but critically, the utterly bogus interim results of 30 September where, laughably, it booked a £6 million overdraft facility as a current asset. I kid you not, it really did!
In an announcement two days ago Valereum restated its interims to withdraw the bogus £6 million asset. In that announcement it blamed Peterhouse for signing off on the fake interims and said that First Sentinel had suggesteds the chane. That is so utterly disingeneous. Announcements on Aquis are approved by directors ( i.e. Poulden) not advisors. Peterhouse kicked off about the bogus interims which is why it resigned. It is not First Sentinel but Aquis Regulation that forced the change. One suspects that it was the announcement two days ago that prompted Peterhouse to demand Aquis Regulation force Valereum into today's statement
This epiosde and the cover up and dissembling that has followed has left Richard Poulden and his team utterly discredited. I say this as someone who was Poulden's friend. It has given me no pleasure in exposing this farce.
The shares were 64.5p at peak ramp when Lenigas and Zak Mir, the latter in return for undeclared payments, talked about the stock heading to 200p. They are now 12.25p but that is still a £9.2 million market cap. For this cash guzzler drowning in red flags that is still mighty generous. My suggestion to Poulden is that he publicly sacks the ramper Mir and asks his pal Lenigas not to tweet about Valereum. Mainelli should be sacked as he is conflicted and 2 genuinely independent NEDS appointed. That would be a start. As you friend Richard, I advise you who to throw under a bus because the alternative is that it is your career at Valereum which will be meeting the same fate as HAL Fisher.
Taken from *************:
https://www.*************.com/views/64846/aquis-regulation-forces-richard-poulden-s-disgraced-valereum-to-fess-about-advisor-resignation#disqus_thread
On 14 October Richard Poulden’s Valereum Blockchain (VLRM) the cash guzzling POS ramped by David Lenigas announced that it had switched Aquis adviser from Peterhouse (credible) to First Sentinel (er…). Poulden presented this as a triumph tweeting, disingenuously,:
"Great to have First Sentinel back on the team. Looking forward to working with them on the next stage of @ValereumPLC"
Yep. JP Morgan have written down the value of the holdings by about 99%, hence the low reported NAV - it's pretty much just the money market fund value. Investors are essentially betting on the capital controls lifting and MOEX access being restored to "unfriendly" nations at some point in the future (or a workaround being found). The cost of the bet is the difference between the NAV and the SP. Worst case scenario is we only get 40 odd pence per share back IMO.