I think the problem with most AIM Companies is distinguishing Directors and Shareholders interests. As much of the reports are very generalised it is difficult to know exactly what is being spent when and where.
Takeovers and deals are done almost arbitrarily but are claimed by AIM buffs to add flexibility, often these deals are done with dodgy mates who want to get rid of their Companies.
There seems absolutley no chance of the SFA toughening up or supporting PI's, so i suppose they will remain a complete gamble in many cases - It's really just a case of do you trust the buggers or don't you?
Unfortunately even obtaining this info is not straightforward.