I have a small amount of money to spend and I am prepared to invest in a HIGH RISK investment. I don't mind about the spread so penny shares are my main focus. Has anybody got any tips?

Get it over with quickly. Get a pin and a Racing Post and away you go.

I've got relatively large stakes in the following (not mega high risk but potential for massive returns) it's worth checking them out:

PRO (awaiting news on G5)
RTD (awaiting next large contract/upbeat trading statement)
GXN (awaiting good profits from Pipex takeover)
PTS (awating next statement in next couple of weeks - good chart signals)
SGD (steady growth, should go on and on)
COH (taking over Poland and Czech Republic with their outlets - looking good)