What is Clem Chambers from ADVFN smoking? We want some!

A seemingly very cheery (and rather yoof-ful looking) Mr Chambers…

Looks like our “friends” at ADVFN, in particular the CEO Clem Chambers, have had a knock on the head today.

A promotion for Mr Chambers’ tipping service reads as follows:

“Dear fellow investor,

Internet companies have come and (mostly) gone since the dotcom boom but the one that I run has survived, thrived and is making money. That company is ADVFN. You see, I understand how business works.”

Could this be the same ADVFN which in its last published results reported a near quarter million pound loss and accumulated losses of over £12 million, as relayed below? That is a monumental destruction of shareholder equity in our book and if that is an advert for being a succesful businessman, we’ll pass!

We first covered ADVFN in early 2013 when we called them an outright short at just under 5p. We also revisited the story HERE. The shares are currently trading at 3.33p.

With cash reserves at the last count of just £1.4 million and almost zero probability of getting any contingent cash back from Brian Basham in relation to the Equity Development business he bought back from them, we remain sellers, and to quote a “certain someone”, “our target remains 1p”!