Evil Knievil: I got caught out

Well, I got caught out on Clear Leisure (LON:CLP). Somehow, I had got it into my head that there wouldn’t be yet another placing. So, I merrily went on tucking them away. So, you can understand my disappointment on learning of another placing – 63 million at 0.95p. I understand that this stock has gone to institutions and if that is so the stock may not face the downward pressure caused by flipping. I nonetheless reckon that my buying comfortably upwards of 5 million at 1.12p on average was just setting up the bid for SP Angel to get the placing away. I still think the stock is worth well north of 1.5p right now.

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A couple of days ago Location Sciences (LON:LSAI) offered a trading statement. LSAI is only capitalised at £5 million at 0.03p. Barclays and Peel Hunt can increase issued capital by a further £1.5 million worth through exercising warrants at 0.03p. It seems that the nadir has been passed by. LSAI is still losing money but I suspect that it is heading towards making a profit and may not need to raise money next January if at all. Meanwhile a German comparable company is valued at four times LSAI. It makes you think. I bought at 0.0325p.

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To my amazement Plus500 (LON:PLUS) is seeking to move to the main market. As regular readers know I rather self-deludedly reckoned that PLUS since it was – and remains – a non-stop fraud machine would be chucked off AIM. It is quite bizarre that this squalid operation should have its conduct overlooked.