Good morning from overcast Bournemouth!

I've just had a delicious cooked breakfast in my posh B&B (called "The Living Room" - very nice), and am typing this on my smaller home PC, which I brought with me - perched on a small table in my room. That's the great thing about being an internet writer/blogger - you can work from more-or-less anywhere there's a WiFi signal.

Camkids (LON:CAMK)

Share price: on its way to zero, but currently 5.25p (down 20% today)
No. shares: 77.8m
Market cap: £4.1m

Trading update - this update missed my cut-off yesterday, which was a pity, as it can only be described as pure comedy gold. It's a genuinely funny announcement - I was crying with laughter as I read it.

As regulars will know, my stance here has been unequivocal - that AIM listed overseas shares should all be treated with `great suspicion (as there's usually something wrong with them), and that AIM listed Chinese shares are the worst - they are automatic bargepole jobs. You simply can't trust management, or the accounts with Chinese companies on AIM.

I've long thought (and commented here) that the main purpose of Chinese companies listing on AIM was to separate gullible British investors from their money. After all, creating a market (AIM) with no effective regulation, and then encouraging companies on the other side of the world to list on it, from a country which has a major cultural problem with fraud, wasn't really a terribly clever idea. Yet apparently the LSE still has salespeople in China, encouraging more Chinese companies to list on AIM!

The way AIM has been run is absolutely scandalous, and brings the whole financial sector into disrepute, in my view. Or rather, reinforces the disrepute which the financial sector had already brought upon itself. As things stand, AIM is a magnet for dodgy companies and promoters, aided and abetted by UK advisers who seem to have no moral compass - happy to promote anything, for a fee.

Cash - the vanishing act - the penultimate stage of China frauds on AIM, is to explain away all the fictitious cash on the balance sheet. Usually this is done by the company building a hugely expensive new factory, despite it not being needed, and then can't find workers for, so they have to write it off. Job done - cash has been disappeared.

However, in…

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