Member Info for notrac

Is there some news due this month? Share price has been drifting since the New Year. Today's volume respectable.

The Sheriff could not let today's RNS go without a mention. He reckons it's a spoof. Really?

Maybe management are in the process of finalising the year-end accounts and getting sign-off from the auditors a little earlier this year. UJO have unutilised tax losses in excess of £8 million ( value in excess of £3 million) but it is not shown on the balance sheet. Will some of it be considered as an asset now that the company has started to make money?

A good message. This means transferring the surplus on share premium to distributable reserves. UJO is not yet big enough to attract institutional support, but no more taking soundings from bucket shops and other such disasters.

HUR will not be able to do anybuy backs or pay dividends until they have distributable reserves. At year-end 2020 the cumulative deficit was close to US$700K.

All three partners in Wressle are going in the right direction. Absence of negative trolls from you know who. Where is RNSTranslator?

40% held by institutions is unusually high for an AIM stock but it does make it is easier to short.

TW alleges that on fundamental basis it is a short but refers readers to a third party. As you say his performance is distinctly patchy. He is better at sniffing out prospective placings and identifying egregious behaviour than making recommendations on future direction of shareprices, whether it be upwards or downwards.

The Sheriff has let go the contributing journalist who specialised in the energy srctor.

The sheriff has given his forecast of the ten stocks to crash before Christmas 2022 and UJO is not among them!

It's suspended in Australia.

@justbe
The absence of rumours is because 88E is on ASX where shares get suspended while the placing is carried out. The absence of such a rule in London results in all the pain that UJO suffered last autumn.

This company should be a case study. The price rises through the late autumn are as predictable as the shortening days, then continue on through January. The rise usually ends around mid-Feb, when hopes start to give way to nervousness. This time management has played their cards well through raising cash pre-spud. This is a trading stock, always has been. But one day it may finally hit the jackpot but £400 market cap is steep.
When the Board (and this applies to all AIM stocks) say that they are fully funded, it is as meaningless as the old football adage of the Board saying that they have every confidence in the manager. They can't say that they are not fully funded. The statement is only valid at the time of publication.

Will CAPD be affected by this?

According to 2020 finstats, the accumulated tax losses and unused capital allowances were close to US$2.2BN. or GBP 1.6BN. That may come down in 2021 to £1.4BN. The tax rate is currently 19% but will increase in 2023 to 25%. Applying a discount of 50% to the tax value of the losses to be carried forward gives a value around £150M. Currently market cap plus net debt, i.e enterprise value is £120-£130M. So the value currenty is underpinned by the discounted value of the tax losses.
Look forward to next update.

Proposed RNS after trading and results RNS before the next morning: that's how the City works when the institutions are involved, unlike for most AIM stocks. PHNX is a good income stock so it will have been snaffled up quickly. Aberdeen are still holding 10% of PHNX.

Neither do I.
As the object of such dissemination is to trash a company's share price, it's most unethical. For the smaller companies on AIM the only way to have a level playing field is to follow the Australian practice of suspending the share during the fund-raise. Otherwise the share price is an easy prey for the sharks. Larger companies or those with institutional support are able to announce a placing after hours and confirm subscription before the market opens the following morning. I sincerely hope that DB is able to land a punch to stop this happening again.

The announcement yesterday was made by EDR with whom the sheriff does not have an axe to grind. Someome mentioned yesterday how good the sheriff was in sniffing out placings. Disseminating phone calls or messages to your subscribers from those who have declined to take part in placings isn't rocket science. just extensive contacts. This activity seems to work rather better than the recommendations side.

More negative musings from the sheriff.

@RNSTranslaror
So if the "investor" decides not to participate, there is nothing to stop him selling some or all of his holding, and then, if he wants, letting the likes of ************* know that there are rumours of a placing. The number of people who have been locked up for insider trading in recent years is minimal.