Tom Winnifrith

“A company that is running out of cash will always lie.”

“The way to make money from shares is to buy them when they are cheap and sell them when they are expensive.”

“Jam tomorrow is the oldest trick in the book for a cash-strapped company.”

“Always do your own research.”

“The first rule of AIM is that all directors are liars.”

“Never ever average down on a fraud.”

“Cash is king, cashflow is God.”

“A red flag is a red flag is a red flag.”

“The FRC is not fit for purpose.”

“If a company has to restate its accounts, it is almost certainly a fraud.”

“There is no such thing as a free lunch, especially on the AIM market.”

“Management's primary job is to look after the shareholders. In most AIM companies, it's to look after themselves.”