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What do the following companies have in common: Pursuit Dynamics (LSE:PDX), Vialogy (LSE:VIY), Proteus International and Firecrest? Two of the four have sent me lawyers letters about articles I have written. Those two companies no longer exist. I am still writing. So that is not it. In fact all four have two things in common.
The easy one is that I have said that all four were slam dunk sells. So far I have been utterly vindicated on two partially vindicated on one it is only a matter of time on the other one.
The one that only real stock market nerds would know is that all four have been tiny loss makers who appeared to have had their technology validated by tie ups with FTSE 100 or US equivalent companies. It is a classic gambit for a company keen to demonstrate to investors that its technology works and that great days lie ahead, if only they will support the next fund raising. Which of course is never the last fundraising until the fat lady really does start to strain her vocal chords.
For alerts on all articles by Tom Winnifrith follow him on twitter @tomwinnifrith
As such here is Adele singing Sharefall (I mean Skyfall) especially for shareholders in Vialogy and Pursuit as they contemplate 2013:
http://www.youtube.com/watch?v=7HKoqNJtMTQ
Typically such link ups start with the tiddler refusing to disclose the scale of the project being undertaken by the major as a result of “confidentiality clauses.” Yeaah really. It is not as if any of these deals are ever exclusive. Pursuit signed “deals” with stacks of big names, it was promiscuous in who it signed an NDA with. Do you honestly think that Chevron gives a damn about letting the world know how much it paid Vialogy for its contracts? Of course not.
But gradually the truth emerges. With Vialogy one can deduce from the last set of accounts that its first contract with Chevron (completed before last March) was worth a maximum of £45,000. Chevron is a company that spends more than £50 million A DAY on exploration activities. As such, in the whole of the year to March 31st 2012, it allocated a sum equivalent to less than one one thousandth of its daily exploration spend to Vialogy. Do you think that it is worried about details emerging?
The reality is that companies like Chevron, Glaxo ( the Proteus deal) and Thames Water or Proctor & Gamble (Pursuit) have such vast budgets that contracts with firms like this are signed off at a relatively junior level and mean almost nothing. Call the Chevron press office in the US and ask to speak to the person who looks after the Vialogy account. Have a go. Hint: no-one there will have heard of it. Sure it exists, but it is just one small contract miles down the food chain.
It seems that Vialogy had now secured a second contract which may be even bigger. Oooooh. The idea that it is just a contract away from mammoth roll-out across the organisation is sheer fantasy. Why will Vialogy not reveal the amount? Can we see a letter from Chevron where it demands confidentiality? Maybe there is one somewhere. We will no doubt discover the amount when the 2013 numbers are published. I won’t be holding my breath.
The reality is that companies such as Vialogy need Chevron for the promote more than they need it for cash since the amount they actually receive is so pitiful.
Pursuit has bought time with yet another refinancing last month. It is not exactly a slam dunk short right now it has another year before its piggy bank starts to look rather empty again but I’d certainly rather be short than long as I explain here.
Tom Winnifrith is a speaker at the UKInvestor Show on April 13th. Headline speakers include investment legends Nigel Wray, Evil Knievil, Nick Leslau and gold guru Dominic Frisby all of whom really can be said to be a true master investor. Also on the main stage is UKIP leader Nigel Farage MEP. For a full list of the 16 big name speakers booked in so far or to secure your free ticket click here
I note Tom never addresses his false claim made to fool investors into subscribing for his new Nifty Fifty venture. He’d rather be manipulating his performance record until a light is shone on them and a retraction forced. Still he struggles to keep his wrong-doing under the radar. The FSA will be putting him right soon.
Tom’s a bit like a football yob yelling out from the terraces as the Hammers go down. Now what was that claim…..winners outnumbered losers by more than 2.5 to one when in reality it was around 1.3 to one not including dealing costs!
Crikey! You almost couldn’t make it up, but Lying-Tom can!! LMAO
Tom, the kindest t1ps one can give you is to let Nifty Fifty go the same way and here’s a flavour of Tom’s last credentials from the Rivington chairman’s statement, an excerpt……
— T1ps Fund Management: adverse fund performance lead to diminished fee income;
— Real Man Pizza Company: the restaurant venture was misguided, and continued to generate monthly losses;
It seems there’s a new business model in Town. Supply false data, cover up a poor track record and pick a fight with as many potential customers as possible. LMAO
Tom’s failed repeatedly unless you use his own manipulated data!!
I note Tom never addresses his false claim made to fool investors into subscribing for his new Nifty Fifty venture. He’d rather be manipulating his performance record until a light is shone on them and a retraction forced. Still he struggles to keep his wrong-doing under the radar. The FSA will be putting him right soon.
Now what was that claim…..winners outnumbered losers by more than 2.5 to one when in reality it was around 1.3 to one not including dealing costs!
Crikey! You almost couldn’t make it up, but Lying-Tom can!! LMAO
Tom, the kindest t1ps one can give is to let Nifty Fifty go the same way and here’s a flavour of Tom’s last credentials from the Rivington chairman’s statement and here’s an excerpt……
— T1ps Fund Management: adverse fund performance lead to diminished fee income;
— Real Man Pizza Company: the restaurant venture was misguided, and continued to generate monthly losses;
It seems there’s a new business model in Town. Supply false data, cover up a poor track record and pick a fight with as many potential customers as possible. LMAO
Pathetic. You should be ashamed.