A reminder of our ADVFN short stance

From Mon 8th July –

News this morning that ADVFN have acquired a Phillipine finance site (Financemamila.net) for a relatively nominal sum of £92,000 that was, importantly, paid in shares and not cash only serves to reinforce our short stance here that was flagged at 4.7p back at the turn of the year. See here for a full overview of our reasoning – http://issuu.com/spreadbetmagazine/docs/spreadbet_magazine_v13_generic (page 16)

If they cannot find this type of money to pay for an acquisition then I would hazard a guess that the balance sheet is even more dry of cash than I suspected & postulated in my piece.

The chart below continues to paint a picture down to 3p in the short term and ultimately 1p to me – likely to come about as a capital raising to shore up the balance sheet.

Keep selling is our stance.

Richard Jennings (Titan)