Good morning!

I recorded a cracking (long!) audiocast last night with corporate financier, and accomplished investor, Edward Roskill. He's a man worth listening to, as his favourite three share ideas in our Oct 2014 audiocast have since risen 70% (FIF), 150% (QTX), and 180% (TRAK)! We recap on these stocks, and others, and Edward introduces some of his current micro cap share ideas (NB these are highly illiquid, so come with larger than usual wealth warnings).

I've started typing up a transcript for deaf followers and anyone else who prefers this format, but please bear with me, as it's a lot of typing, so have only done about a quarter of it so far. It should be complete within a few days, so if interested just bookmark that link & revisit later this week perhaps.


Cloudbuy (LON:CBUY)

Share price: 13.9p (down 26% today)
No. shares: 128.4m
Market cap: £17.8m

NOMAD appointed & shares restored - this is an interesting one. Cloudbuy shares were abruptly suspended on 11 Sep 2015, which I reported on here. The reason was that the NOMAD, Westhouse Securities, resigned with immediate effect, giving no reason. The company only had one month to find a replacement NOMAD, otherwise the shares would have de-listed.

So here we are, just six days before Cloudbuy shares would have seen the AIM listing cancelled, the company has managed to find another NOMAD to take them on - Arden Partners.

EFH Director dealing - Ronald Duncan, Cloudbuy's Chairman, was one of several listed company Directors who unwisely got involved in a scandal last year, where Directors purported to take out loans with Equities First Holding LLC (EFH), using shares in their companies as collateral.

Tom Winnifrith exposed these arrangements as actually being sale & optional re-purchase agreements. As the loans were non-recourse, and there was no obligation to re-purchase the stock signed away to EFH, then the commercial reality of these transactions was that they were disposals of shares by Directors. EFH sold the stock into the market once they received it as collateral. Whether Directors were aware this was their intention or not, is unclear. However, on looking at the terms of the loans offered by EFH, any idiot could have worked out that EFH would have to sell the shares immediately, in order to be able to offer…

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