One of my favourite sayings that I often use when it comes to the fakirs and shysters that operate on both sides of the corporate fence, is “Oh what a wicked web we weave when we practice to deceive”,. The tricks and manoeuvres never cease to supply me with a barrel of laughs. CEO’s, Directors buying a pittance of stock, clarion calls, emails and text messages to the gullible, Chief Operating Officers rocking up on cowboy podcasts to deny funding, twitter DM groups infiltrated by the company PR to monitor how the deceits are being swallowed. Mass tweets of the‘veritable’ paid pumpsters such as Total Market Shite (TMS). It really is testament to the power of honesty that one man exposing the shambles of companies can have such an effect.
I’m reminded of that well known line in the exorcist: “The Power Of Christ Compels You” Ergo, The Power Of Dan Compels You…. AIM companies just need to be honest. It’s as simple as that. Honesty is the best policy. You duck, dive and deceive then you pay the ultimate price. Loss of your share-holder base. Such is the ‘Jackanory‘ on Coro.
Yesterday those that had been made inside on the Coro Energy (LON: CORO) placing were ‘cleansed’ Mirabaud, Company and Nomad emails went out ‘en masse’ and the CEO bought a handful of confetti which means that Coro have, after being exposed on here, done an Angus Energy (LON: ANGS), delayed and walked back their placing and we all know what happened there, which will happen here. Coro will try to puff up their SP then when the coast is clear they’ll drop their Placing. It’s a ticking placing bomb on the heads of those daft enough to suck up the guff. Hence why the 5 day ‘silence of the gullible’ was broken by a plethora of corporate denials, but you can, like Angus, only delay the inevitable for so long. The cash position is woeful. Their balance sheet reveals the two ‘fundamental’ truths. The shine of my good com padre, James Parsons has some what dulled and £14M has all but gone…….
Which leads me on to another snippet of news. Just why have Coro paid circa £18,000 (Flights, Hotels, Wine & Grub not included) to attend a ‘one to one’ direct corporate investor funding shindig in Hong Kong?
1/ Because Coro have got lots of cash?
2/ Because Coro have spunked away £14M?
It’s a bit like speed dating but in this case it’s speed ‘debting’. As for the Euro Bonds for Gas, any one with half a brain knows that Lombard ‘odious’ and Rob Giles are vulture financiers. This is death spiral funding. Euro Bonds for gas? Would that be laughing gas? As sure as night follows day, however much they ‘delay’ theirs a placing coming.
It’s a Shambles. Like venereal disease, take precautions. Protection helps.