MrC's Smallcap Sweeps for Dec 2020

[MrContrarian]

Smallcap Sweep. 01-Dec-20


CyanConnode (CYAN) guides H1(Sep) rev up 50%. Gets £400k unsecured loan from directors to fund increased working cap. No interest rate given. [SP=5.63 Cap=10m]
Sportech (SPO) sale of Global Tote as mooted. Will get £30.9m subject to working cap + US pension adjustment. The business made a pretax loss of £0.8m. [SP=28 Cap=53m]
Van Elle (VANL) guides H1(OcT) rev down 22%. "Revenues in September and October reached pre-Covid levels, enabling the Group to trade profitably," [SP=44.1 Cap=47m]
Equals (EQLS) guides last 5 months rev £114k/day cf H1 £110k/day. Wirecard failure: exceptional charge c. £1m. Staff cuts due to covid is another £1m. [SP=33.97 Cap=61m]
Fulcrum Utility Services (FCRM) update on the sale of its domestic customer gas connection assets and associated meters. Received £4.7m yesterday. Another £27m to be received, with the majority expected to be collected over the next two to three years. [SP=42 Cap=93m]
Bilby (BILB) H1(Sep) rev down 21%, U/L pretax down 32%. Outlook: "confident the mandatory nature of our work, driven by regulation, will be delayed rather than cancelled. However, the visibility on implications and timings remains challenging." [SP=24 Cap=14m]
Sosandar (SOS) H1((Sep) rev up 52% (as guided), pretax -£1.1m (-£2.8m). Sep-Nov: 17% growth in revenue, 49% reduction in marketing spend and a reduction in cost of acquisition of 52%. Cash over £4m end Nov. [SP=19.91 Cap=38m]

In line: BBB, DVRG
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 02-Dec-20


Belvoir (BLV) guides FY(Dec) pretax comfortably ahead of mgmt expectations. 1.3p catch-up div with fnal div. Will repay cvid furlough monies and grants received. [SP=142.5 Cap=50m]
Redx Pharma (REDX) £25.5m placing and £2m OO at 56p, a 2.6% discount, to continue to progress its pipeline. [SP=56.3 Cap=110m]
Capital Limited (CAPD) wins conditional open pit waste mining services contract with Sukari and extends its drilling contract. Worth $235 - 260m over 4 years. £22m placing at 58p, a 30% discount despite the contract win. [SP=63 Cap=86m]
Osirium Technologies (OSI) 'significant' contract win fro its Osirium PAM platform. 36 month license. No £££. Guides FY bookings ahead of market expectations. [SP=20 Cap=4m]
AssetCo (ASTO) £26.9m tender offer at 411p, [SP=376.01 Cap=50m]
Countrywide (CWD) Alchemy revises its offer: 250p in cash but conditional on other actions. CWD rejected 250p from Connells. [SP=228.4 Cap=116m]
Woodbois (WBI) Oct & Nov prodn up 41% over the previous quarter's average but guides Q4 rev $2m less than mgmt exp. Guides FY rev $15m but earnings exp unchanged. Just realised its name is wood twice. [SP=2.3 Cap=33m]
Boku (BOKU) FY EBITDA guidance at least $13.5m, $1m above consensus. [SP=120.5 Cap=346m]
Science in Sport (SIS) guides FY(Dec) rev c. £49.8m, down 1.6% and U/L EBITDA £1m (-£0.3m). Cash at hand £10m. [SP=28.5 Cap=39m]
D4T4 Solutions (D4T4) wins contract upgrades in the financial services worth £3.5m this FY. Still guides FY in line. [SP=220 Cap=88m]
Angling Direct (ANG) strong trading and enhanced visibility over operations as stores reopen means it guides FY pre IFRS-16 EBITDA at least £3.8m. [SP=65 Cap=50m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 03-Dec-20


Westminster (WSG) £5m placing at 4p, a 37% discount, to repay a convertible and working capital. 7p warrants as well as if the discount wasn't enough. [SP=6.13 Cap=10m]
Countryside Properties (CSP) FT(Sep), and reply to public attack by large holder. Rev down 31%, EPS -0.8p (+37.7p). Outlook: "on track to deliver at the upper end of consensus operating profit expectations for 2021". [SP=440.8 Cap=2313m]
eve Sleep (EVE) guides FY(Dec) rev at least £24m (up £2m from Sept guidance) and U/L EBITDA - £2.5m 77% better. [SP=4.43 Cap=12m]
Totally (TLY) wins contract extensions in urgent care worth c.£9.8m. [SP=20 Cap=36m]
Directa Plus (DCTA) guides FY(Dec) rev c. £6m, above market expectations. Cites strong sales of G+ (antiviral) enhanced face masks. Also development agreement with major international developer and manufacturer of consumer electronics, personal computers and related services for potential application of G+ graphene on covering materials of consumer devices. [SP=80.65 Cap=49m]
Renew (RNWH) Lovell Pension Scheme buy in agreement with a specialist insurer removing exposure to investment and funding risks. Looking at "diverting the equivalent of one year's worth of contributions from the Lovell Scheme into the Amco Scheme...likely to be sufficient to achieve a buy-in of its remaining liabilities. Once the funding risk has been removed from both schemes there will be an immediate, material improvement to the Group's cash flow." [SP=530 Cap=416m]
N4 Pharma (N4P) Shows that Nuvec loaded with a plasmid DNA can be dried, stored at convenient temperatures and reconstituted without any drop in transfection. It's "a significant step forward in our formulation development work." [SP=6 Cap=9m]
Go-Ahead (GOG) trading: "financial outlook for the 2021 financial year has improved, with an increase in our expectations in the London & International bus division, and no change in the rail division. While regional bus is expected to make a positive contribution in the year, ongoing uncertainty relating to the recovery of passenger demand prevents us from providing meaningful full year financial guidance for the division at this stage." [SP=858.5 Cap=371m]
RM (RM.) guides FY(Nov) ahead of expectations (whose?). Net debt < £5m (£15m). [SP=205 Cap=172m]
Sareum (SAR) mooted grant confirmed. £174k "to investigate the therapeutic potential of SDC-1801, its selective, small molecule TYK2/JAK1 kinase inhibitor, in severe-phase Covid-19." [SP=1.4 Cap=46m]
Digitalbox (DBOX) warns on FY(Dec) rev and profit but will be profitable and cash generative. Net cash £1.1m. Co "emains in a strong position to benefit as the ad market recovers into 2021 with increased digital advertising spend through mobile devices". [SP=6.5 Cap=8m]
Active Energy (AEG) update on the development of CoalSwitch reference plant. Discussions with prospective customers for the delivery of the next generation biomass fuels, including CoalSwitch in the USA. [SP=0.47 Cap=7m]
Live Company Group (LVCG) £0.6m placing at 5p for development of a New Division, purchase of E-Movement and working capital. They forgot to include the discount so it's a predictably massive 33%. [SP=7.88 Cap=7m]
Wameja (WJA) takeover delayed again due to the Potential Indemnity Claims. Now it's March. [SP=6.5 Cap=140m]

In line: NANO
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 04-Dec-20


Telit Communications (TCM) Dbay considering increasing its offer to 190p. "Dbay does not believe the u-blox proposal [worth 250p in shares] is compelling and does not intend to accept the proposed all-share proposal should such an offer be made by u-blox." [SP=202 Cap=269m]
Hunters Property (HUNT) possible offer. [SP=61.93 Cap=19m]
Smartspace Software (SMRT) Evoko releases next generation meeting room panels 'Naso'. "irectors believe the relationship with Evoko has the potential to generate significant future revenues for the Company in the form of both revenue sharing from the sale of Naso panels and SaaS software subscriptions." Trading: 'good progress' nut no numbers. Anders & Kern still below pre-covid rev. [SP=99 Cap=28m]
McBride (MCB) guides FY(June) pretax at least 10% ahead of the consensus of £25.2m after H1 rev up 2%. [SP=66 Cap=120m]
Tavistock Investments (TAVI) postpones AGM to reconsider outrageous new LTIP after holders object. [SP=1.5 Cap=9m]
Image Scan Holdings (IGE) FY(Sept) rev up 50%, pretax £113k in line with Oct trading stmt. Outlook "some larger government procurements of security systems have been delayed. Nevertheless, we have continued to receive a steady stream of smaller orders and are optimistic that this will continue. By continuing to invest in the portable X-ray product range we expect to be well positioned when procurement returns to a more normal level. We aim to make the first sales of our new cabinet X-ray systems." No current rev figure. [SP=2.2 Cap=3m]
Sutton Harbour (SUH) FY(Sep) NAV 39.8p/sh up 0.1p in H2. "[covid] restrictions have had an impact on trading revenues but to date our business activities have shown resilience to recover as more normal operations can resume." [SP=14.55 Cap=18m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 07-Dec-20


IMImobile (IMO) rec offer of 595p, a 48% premium. [SP=404 Cap=332m]
McCarthy & Stone (MCS) increased and final recommended offer of 120p. [SP=115.8 Cap=623m]
Countrywide (CWD) Connells increase offer by 30% to 325p. [SP=255 Cap=129m]
1pm (OPM) changes name to to Time Finance, ticker TIME. [SP=24.9 Cap=23m]
Open Orphan (ORPH) wins 2 contracts. No £££. [SP=23.5 Cap=157m]
Telit Communications (TCM) DBAY bought shares at 195p after offering 190p. Telit says still not enough, were it to increase its offer to 195, and favours u-blox offer of 250p in shares. Talking to both. [SP=193.81 Cap=258m]
Bigblu Broadband (BBB) wins £15m North Yorkshire subsidised contract. [SP=98.5 Cap=58m]
Actual Experience (ACT) wins three-year framework agreement with an American computer technology company for its new Human Experience Management offerings. Co believes they have the potential to be a major global channel partner. No £££. [SP=101.5 Cap=48m]
Vertu Motors (VTU) trading has remained ahead of prior year and original budget. Buys 12 sites, adding BMW and MINI franchises to group. Finaced by cash and £12.76m mortgage on sites. [SP=27.9 Cap=103m]

In line: CRU, HDD
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 08-Dec-20


Joules (JOUL) positive trading trends have continued accounting for lockdwns. Guides H1(Nov) rev down 15.3%. Retail rev down 6%. Store sales (when open) ahead of the Board's expectations, down 17%. Down 46% overall. Guides pre-exceptional pretax £3.5-4m. Guides FY in line. [SP=170 Cap=184m]
Futura Medical (FUM) US and EU approval process going OK for MED3000 erectile dysfunction gel. [SP=14.18 Cap=35m]
Toople (TOOP) two new contract wins and a major extension to an existing contract. No £££. [SP=0.11 Cap=5m]
IXICO (IXI) wins contract for neuroimaging solutions with a new, large global pharmaceutical company. Included in management FY expectations. [SP=107.5 Cap=51m]
Cloudcoco (CLCO) guides FY(Sep) rev up. H2 trading EBITDA (yet another flavour of BS profits) £68k (FY19 -£235k). In line? Didn't the board think the co's name is too close to Cloudcookoo Land? [SP=1.01 Cap=5m]
Porvair (PVR) guides FY(Nov) rev down 7% and adj op profit in line with mgmt expectations. "Since July order books have been building steadily from a lower base. The Group was consistently profitable and cash generative in the second half, and showed sequential growth between the third and fourth quarters." [SP=4.4 Cap=30m]
Northbridge Industrial Services (NBI) guides FY profit before exceptionals. In line? "For the third year in a row we expect to start 2021 with a record new-year order book for the sale of loadbanks and a backlog of enquiries for rental projects." [SP=82 Cap=23m]

In line: MER
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 09-Dec-20


Eddie Stobart Logistics (ESL) conditionally raised £9m in connection with its proposed conversion to an investing company. £7m 37 for 100 OO. I didn't see the price. Will become Logistics Development Group. [SP=8 Cap=30m]
SimplyBiz (SBIZ) in line.Final div 2p. Sets 2-3yr target of 5-7% rev growth, EBITDA margin 35% - 40%, SaaS and subscription revenues between 70% - 80% of rev. Capital Markets Briefing today. [SP=197 Cap=191m]
SIMEC Atlantis Energy (SAE) projects update. MeyGen Phase 1 recent probs so one 1.5MW turbine will repaired in early 2021. "2021 is looking to be a very positive year of milestone achievements across all of our divisions." [SP=22 Cap=108m]
SigmaRoc (SRC) first 11 months rev up 78%, significantly ahead of market expectations. Also £12.4m placing at 51p, a 3.3% discount, to accelerate near term acquisition and investment pipeline. Co "remains on track to deliver record results for 2020." [SP=52.75 Cap=134m]
Time Finance (TIME) lending books revovers from June low of £95m to £105m."Part of the reduction in the lending book has occurred as a result of a number of borrowers settling early through accessing alternative government-backed funding. Although this reduces the amount of future interest income to be earned from the Group's lending, it de-risks the lending portfolio and results in further strengthening of the balance sheet." Straining to be positive! Guides H1 rev not less than £11.6m (H2: £13.6m, H1 2019/20: £15.6m). Pretax at least £1.2m (£3m). [SP=NA Cap=NA]
ThinkSmart (TSL) notes Clearpay UK Nov rev was c.10% of Afterpay's global underlying sales, up from 7% in the 3 months to Sept. TSL has 10% shareholding in Clearpay UK. [SP=52 Cap=55m]
Dialight (DIA) Lighting MRO orders steadily improved since April, as expected. Recent modest recovery in project work. Signals & Components continued to perform well. No £££. [SP=259 Cap=84m]
Photo-Me (PHTM) guides H2(Oct) rev down 26%. Photobooth rev down 26%, children's rides even worse. Laundry down only 2%. Guides FY21 rev £175m, pretax £9m. Plans to remove 17% of photobooths. Bank agreed in principle to amend the existing gross cash to debt covenant. Financial resources will be sufficient to withstand the uncertain economic conditions. [SP=58.9 Cap=223m]
Marshall Motor (MMH) guides FY(Dec) U/L pretax at least £19m, £4m up from prev guidance. Its strong outperformance of the wider new car market continued. [SP=132.4 Cap=104m]
S & U (SUS) trading of divisions. Overall picture not clear to me. [SP=1830 Cap=222m]
Petards (PEG) wins £823k contract for ANPR camera infrastructure. [SP=8.13 Cap=5m]
Dewhurst (DWHT) FY(Sept) rev down 1.5%. Pretax £6.7m (£5.2m), ahead of revised management expectations. Outlook "our business tends to lag behind movements in the economy generally by 1-2 years. Many of the projects for which we have been providing components this year were initiated before there was any hint of a pandemic. Market feedback suggests there is a definite lull in the commissioning of new projects, so we do have some concerns that demand may soften during 2021." [SP=1150 Cap=67m]

In line: HSP, SDI
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 10-Dec-20


Iconic Labs (ICON) monthly contracted rev now exceed £135k. "Legacy revenues have now largely been dealt with and running costs for the Company are running at a level similar to or less than revenues received." Seeking acquisitions and more partners. Discussions with previous provider of convertibles re settlement of outstanding amounts due which are to be resolved. [SP=0.01 Cap=5m]
Abbey (ABBY) 1575p rec offer, a 1.6% premium, for the 4.38% stub. [SP=1550 Cap=NA]
Walker Greenbank (WGB) new name from tomorrow, Sanderson Design Group ticker SDG. [SP=NA Cap=NA]
Bion (BION) createst solar power subsidiary with a conditional acquisition of solar assets. "With the solar market in Malaysia expected to grow substantially, supported by government incentives, we look forward to expanding our portfolio in this sector." [SP=2.3 Cap=10m]
Applegreen (APGN) possible cash offer of 575p, a 48% premium. Co would recommend such an offer. [SP=NA Cap=NA] [ticker corrected to APGN by dspp]
7digital (7IG) became operationally profitable as per mgmt expectations. Detailed update. [SP=NA Cap=NA]
Active Energy (AEG) get US patent for its CoalSwitch process. [SP=0.55 Cap=8m]
Shield Therapeutics (STX) alongside ongoing discussions with potential licence partners co will explore the potential launch of Accrufer in the US by Shield itself. Would need $30-40m to reach cash positive. Talks with lenders and has received a number of term sheets on acceptable commercial terms. Co's cash runway extended into Q2 2021. All sounds a bit squeaky bum. [SP=103.02 Cap=121m]
Quixant (QXT) guides FY adj pretax at least $1m on revenue of at least $61m as trading in its core gaming market exceeds expectations. [SP=135.3 Cap=90m]
VR Education (VRE) ENGAGE released on Apple App store. ENGAGE is a next gen comms platform which provides meetings, events, training and remote learning solutions within virtual reality. [SP=15.1 Cap=37m]
Wincanton (WIN) wins multi-channel contract from Dobbies garden centres. No £££. [SP=245 Cap=305m]
Corero Network Security (CNS) wins orders of $3m in the first two months of Q4. Rev recognised over the lifetime of each of the contracts. [SP=8.5 Cap=42m]
McColl's Retail (MCLS) guides FY(Nov) rev up 2.3%. Margin cut from product mix and covid costs knocks adj EBITDA (pre IFRS16) down to £29m to £30m (£32.1m). HQ sale delayed to Jan but 1/3 of cash received. In FY21 expects LFL growth to moderate and sales mix to normalise. "We expect our strategic focus on the larger convenience store format, such as Morrisons Daily, to drive incremental sales in grocery, fresh food and BWS in particular, providing opportunities for sales mix improvement." [SP=30.6 Cap=35m]
CML Microsystems (CML) to sell Hyperstone storage division for $49m. Expected to close in the first few weeks of 2021, subject to regulatory approvals and other customary closing conditions. [SP=274.1 Cap=47m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Typo: Applegreen ticker is APGN

[corrected for you, thanks for all your efforts, regards, dspp]

[MrContrarian]

Smallcap Sweep. 11-Dec-20
ASH turns to ash, FOXT splash cash

Ashley House (ASH) RTO talks with Piper Homes break down. Administration and delisting. [SP=1.1 Cap=1m]
Nucleus Financial (NUC) guides FY(Dec) adj EBITDA and AuA ahead of mgmt exp. Purchase of certain assets of OpenWealth completed. [SP=172.25 Cap=132m]
Westminster (WSG) wins £750k 3 year contract. [SP=4.15 Cap=7m]
Inspired Energy (INSE) Guide FY EBITDA c.£1.2m below current expectations (whose?). SME division recovery didn't happen. Corporate Assurance Service ahead of management expectations. SME division disposal is complete. [SP=14.5 Cap=139m]
Eagle Eye Solutions (EYE) wins contract with US speciality office and home products & services retailer (>1000 stores) for real-time digital marketing. "The program will initially be a pilot launch for a limited number of regions, with a full roll-out based on a successful first phase." No $$$. [SP=390 Cap=100m]
LSL Property Services (LSL) guides FY(Dec) U/L profit (before covid related net costs) marginally ahead of 2019. Oct rev down 5%, first ten months down 18%. Nov key front-end sales metrics up. [SP=230 Cap=242m]
Foxtons (FOXT) Oct & Nov rev up 2% making first 11 months down 15%. Guides FY adj op profit £1-1.5m (-£0.7m). Starts share buyback of up to £3m despite planning acquisitions. Co had £22m placing on April. [SP=44 Cap=145m]
French Connection (FCCN) loackdown made conditions slightly more difficult across the retail channels.Wholesale performed well. Spring 21 orders currently ahead of mgmt expectations. US business gets 5 year $6.5m covid loan. [SP=9.88 Cap=10m]
Altitude (ALT) delays H1(Sep) "in order to present the most accurate view of the Group's financial performance and position." Blames extended cash collection timescales and extended payment terms for customers making rev recognition difficult. [SP=17 Cap=12m]
TruFin (TRU) Lloyds Ban to license Satago's software platform for its customers seeking single invoice finance solutions. 6 month pilot. [SP=45 Cap=36m]
DeepVerge (DVRG) the new R&D service, launched in Aug, has already generated £400k sales in Q4. "Agreements include framework Master Services Agreements with 2 of the world's largest suppliers of consumer products related to skincare." [SP=23.35 Cap=39m]
Zaim Credit Systems (ZAIM) Zaim-Express online loans up 62% in Nov cf Sept. Default rates remain stable. Expects positive momentum to continue. [SP=2.62 Cap=12m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 14-Dec-20


Journeo (JNEO) trading in line. £0.3m loan note extended to Mar 2022. [SP=49 Cap=4m]
Spectra Systems (SPSY) lottery renewals worth $1m over the full 9 and 10 year terms. [SP=184 Cap=84m]
Dignity (DTY) FD resigns, immediate effect. He is thanked. Strategic update: "given that our over-arching desire to grow sustainable long-term market share could have ramifications for short-term performance, we are working closely with our largest shareholder in order to endorse the combination of compelling propositions and price points to best leverage the strengths of our existing resources." [SP=726 Cap=363m]
Invinity Energy Systems (IES) sells a 0.8 MWh vanadium flow battery worth £0.7m total. [SP=200 Cap=170m]
Novacyt (NCYT) launches the first RUO PCR (lab) test for the new mutation covid found in mink in Denmark and The Netherlands. Also RUO PCR tests for bird flu. [SP=870 Cap=675m]
OnTheMarket (OTMP) guides FY(Jan) rev at least £22.5m, adj op profit at least £1.5m, both ahead of mkt exp. "With a strong cash position, the Company is planning to increase investment in the business in the coming year, particularly in new products and services, people and through restoring marketing expenditure to more usual levels." [SP=129.6 Cap=88m]
Location Sciences (LSAI) Blis Global threatens a defamation action. CO says claims are baseless. Co alledges that Blis has manipulated data supplied to it. [SP=0.35 Cap=2m]
GSTechnologies (GST) wins $1m contract to complete Q1 2021. [SP=0.14 Cap=1m]
Tremor (TRMR) pays Uber $1.7m to settle lawsuit. [SP=330.76 Cap=441m]
UP Global Sourcing (UPGS) guides U/L EBITDA above market expectations. For H1 or FY? [SP=96.75 Cap=79m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 15-Dec-20


K3 Capital (K3C) guides H1(Nov) rev c.£18m, ahead of management's expectations. Particularly strong performance across KBS and rannd. [SP=198.25 Cap=136m]
Telit Communications (TCM) DBAY pull out leaving u-blox 250p paper offer. [SP=199.6 Cap=266m]
Velocys (VLS) settles dispute with the bankruptcy trustees of Ventech Engineers for nominal sum. [SP=7.18 Cap=76m]
Tristel (TSTL) guides H1 pretax (before share-based payments) up 10%.Substantial recovery in demand from Oct, partly thanks to NHS stocking up pre Brexit. [SP=508 Cap=236m]
Catenae Innovation (CTEA) JV wins first order for Near-Patient Healgen Antigen test and its Covid-19 CE-certified Near-Patient Antai Triple-Antibody test. CO provides data management platform. [SP=2.99 Cap=7m]
Quadrise Fuels (QFI) launches bioMSAR, a synthetic alternative to heavy fuel oil, with significantly reduced greenhouse gas emissions. Co now working with industry partners to test bioMSAR® in both diesel engine and combustion applications. [SP=1.9 Cap=20m]
RA International (RAI) guides H1 rev at least $28m ($35.4m) and gross profit margin at least flat. Order book of $187m highlights 'positive contract momentum'. [SP=45.2 Cap=77m]
BATM Advanced Communications (BVC) associate company. Ador develops new rolling circle amplification (RCA) technology to provide diagnostics results for bacterial, viral or fungal infections in under 30 minutes. BVC invests another $3m into Ador alongside $7m from other investors. [SP=82.6 Cap=364m]
SpaceandPeople (SAL) signs exclusive multi-year agreements with a further two former Intu shopping centres. [SP=7.51 Cap=1m]
SourceBio (SBI) strategic commercial partnership with Oxford Nanopore to offer a commercially available COVID-19 testing solution to corporate customers at scale. The test will also be offered to consumers. "The COVID-19 testing service using LamPORE will be offered as an additional service by SourceBio to complement its existing COVID-19 PCR Testing services which are currently used by a range of customers." [SP=162 Cap=120m]
Synectics (SNX) guides FY largely in line with mgmt expectations with H1 U/L results now expected to be broadly similar to H1. I think that's a small miss then. "Given the ongoing uncertainty in the timing of market recovery from Covid-19 impacts, the Board's forecasts and plans continue to be based on the assumption that demand in affected sectors will remain weak in the near-term." [SP=107 Cap=19m]
Cyanconnode Holdings (CYAN) H1(Sept) rev £1.5m up 48%, pretax -£1.7m (-£3.1m). No recent trading. [SP=4.7 Cap=9m]
BigDish (DISH) 'strategizing' (oh please) to create a new listed entity from the Venture Builder model and "making progress on a new business opportunity in the wider food sector that could become a substantial opportunity." Who writes this crap? Oh, yes, our friend Zak Mir. He should stick to fortune cookies. [SP=1 Cap=4m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 16-Dec-20


SIMEC Atlantis Energy (SAE) to raise up to £12m in six tranches from New Technology Capital Group. Sounds somewhat like a death spiral. [SP=16.74 Cap=82m]
AFC Energy (AFC) strategic partnership with ABB, a world leader in electrification and digitalisation technologies. ABB and AFC will develop and launch a bespoke high power EV charging product. Both will "invest into a Commercialisation and Marketing Agreement, and Joint Product Development Agreement to showcase the supply of secure, reliable and flexible on-site power generation in ultra-rapid EV charging." [SP=37.5 Cap=254m]
CyanConnode (CYAN) headline 'Director Share Purchases'. Ooh, that sounds positive. But it's about paying directors shares in lieu of remuneration, so far from enthusiastically putting their hands in their pockets they are having the paper rammed down their throats. [SP=4.5 Cap=8m]
Concurrent Technologies (CNC) guides FY(Dec) rev and profit ahead of market expectations. Will pay a further interim dividend. [SP=95.03 Cap=70m]
NAHL Group (NAH) volumes in all businesses had a steady recovery throughout Q3, ahead of management's planning assumptions. "On entering Q4, the impact of the second national lockdown and localised restrictions have impacted volumes, but to a lesser extent than compared to the first national lockdown." Last 5 months rev down 15%. Frenkel Topping offer PUSU deadline extended to 13 Jan. [SP=44.15 Cap=20m]
Goodwin (GDWN) H1(Oct) rev down 11%, pretax down 22%. Guides H2 pretax at least level with H1. [SP=3380 Cap=254m]
MS International (MSI) H1(Oct) rev down 21%, pretax -£1.08m (-£0.49m). Order book up since Apr. [SP=130 Cap=22m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 17-Dec-20
Turbo Thursday with 19 companies

Gym (GYM) extends extra bank facility to June 2022. All gyms are open. [SP=212 Cap=352m]
FireAngel SafetyTechnology (FA.) positive trading momentum has continued with Nov up 20%. [SP=10.2 Cap=13m]
ASA International (ASAI) sounds positve apart from "India continues to struggle with collections remaining in the high seventies." [SP=225 Cap=225m]
Bidstack (BIDS) guides FY(Dec) rev above market expectations. How much? "Average order values increasing significantly and experiencing advertising agencies now including in-game advertising as a component in large media plans." [SP=5.8 Cap=23m]
Reach (RCH) hits 5m customer registrations. Q4 digital rev up 20%. [SP=132 Cap=412m]
Kin and Carta (KCT) sells healthcare communications business Hive for £13.8m. Hves pretax was £1.2m. [SP=104 Cap=175m]
Surgical Innovations (SUN) nationwide distribution agreement with existing US distributor, Adler, for full range of handheld surgical instruments. Worth c. $12m over 5 years. [SP=1.44 Cap=13m]
Provexis (PXS) £1m placing at 0.75p, a 6.3% disc, for additional working capital for growth in for Fruitflow+ Omega-3. [SP=0.9 Cap=19m]
John Lewis Of Hungerford (JLH) despatched sales and forward orders total £5.9m up 25%. Now offering finance facilities to customers. [SP=0.45 Cap=1m]
Alfa Financial Software (ALFA) guides FY(Dec) rev 5% above expectations. Outlook caution: "we expect a larger proportion of our work to be spent on upgrading existing customers to Version 5 and in the expansion of our global relationships under existing licences rather than new standalone projects...hese upgrades and expansions will generate a lower level of perpetual licence income next year. We do expect an increase in our costs as we return to a more normal level of working, along with the impact of the delayed internal projects noted above and with an increase in the levels of holiday being taken once the travel restrictions from the pandemic have eased. Whilst the late stage pipeline continues to develop well, we have a lower level of contractual visibility than we would like." [SP=124.2 Cap=373m]
Safestyle UK (SFE) Q3 rev up 9%, guides Q4 up 20% as mkt demand increases. So guides FY rev over £113m and U/L pretax -£4.5m. Guides YE order book up 75%. Guides FY21 significantly ahead of market expectations. [SP=37 Cap=51m]
International Personal Finance (IPF) the 'modest' reduction in collections effectiveness expected this winter has not happened, but continues to plan for a softening in performance in the coming months. Nov effectiveness 97% of pre-covid. [SP=92 Cap=206m]
DeepMatter (DMTR) wins 3 year contract with Thieme Chemistry for technical data services and access to the Group's proprietary algorithms. No £££. [SP=1.61 Cap=15m]
Intelligent Ultrasound Group (MED) ticker changes to IUG on Monday. [SP=15.44 Cap=41m]
Physiomics (PYC) existing client Merck commits to an initial tranche of projects for 2021 with an aggregate value of £270 [SP=5.49 Cap=5m]
Wameja (WJA) €25m Mastercard facility extended to March. Takeover by Mastercard was planned to have happened by now. [SP=6.35 Cap=142m]

In line: NWF, TRT, NET
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 18-Dec-20
UCG holders carpeted but get comp

Gfinity (GFIN) AGM stmt: "the positive momentum we saw at the start of the current financial year has continued. The Company was operationally profitable in October and November and is on track for another strong performance in Dec". Formal Sales Process talks continue. [SP=3.51 Cap=28m]
DP Poland (DPP) to buy Dominium, a Polish pizza restaurant group, in an RTO. Pays £22.6m in paper (at 8p) and a Loan Note of €1.3m. Takes on €6.2m debt. £3.5m placing at 8p, a 10% premium) for capex and working cap. [SP=7.25 Cap=18m]
Quadrise Fuels (QFI) has signed a Collaboration Agreement with Aquafuel Research, a British company specialising in renewable power innovation using conventional biofuels and glycerine. Quadrise and Aquafuel will work together to jointly promote commercial glycerine supply, Aquafuel power solutions and bioMSAR projects. [SP=2 Cap=22m]
Scancell (SCLP) selects its covid vaccine candidate SN14 for further development and clinical trials. "SN14 offers several potential advantages over currently approved and late-stage COVID-19 vaccines." [SP=12.27 Cap=100m]
Mulberry (MUL) notes yesterday's announcement by Frasers that it does not intend to make an offer. [SP=213.4 Cap=128m]
United Carpets (UCG) to propose delisting due to costs and poor liquidity. 6.25p tender offer, a 19% premium, for up to 35.7% of shares. [SP=5.25 Cap=4m]
Restaurant Group (RTN) if UK tiering allocations were to remain the same as currently throught Q1 this will have a significant adverse impact. Expects a strong recovery when there is a return to more normal levels of customer activity. [SP=67.35 Cap=397m]
Synairgen (SNG) Phase III trial protocol of its covid vaccine is amended. Dosing expected to commence imminently. [SP=109 Cap=218m]
Telit Communications (TCM) PUSU deadline extended to 18 Jan. [SP=185 Cap=246m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 21-Dec-20


Avacta (AVCT) license agreement with Astrea Bioseparations for the use of the Affimer platform in affinity purification applications. £0.5m upfront payment. [SP=114.5 Cap=289m]
Sanderson Design Group (SDG) guides FY(Jan) pretax substantially ahead of management's previous expectations due to demand in home improvement and furnishings mkt. [SP=78.25 Cap=56m]
Windar Photonics (WPHO) guides FY(Dec) up 21% after strong H2. £495k placing at 11.25p, nil discount. [SP=11.49 Cap=6m]
Novacyt (NCYT) computer simulation predicts co's test will be able to detect the new covid strain with the same accuracy. [SP=823 Cap=648m]
Universe (UNG) rev from roll-out of a material project for an existing customer won't be booked this FY but related costs will be. Guides H2 rev similar to H1 and modest adjusted EBITDA 'profitability'. [SP=4.01 Cap=10m]
Symphony Environmental Technology (SYM) launches case against EU for a directive banning oxo-degradable products that do not properly biodegrade and are not recyclable with ordinary plastics. Co "continues to explain the difference between oxo-degradable and oxo-BIOdegradable plastic" but the Directive has not made this clear. " [SP=19.98 Cap=35m]
Deltex Medical (DEMG) considering ways of simplifying its year-end balance sheet. Update on commercial activities. [SP=1.13 Cap=6m]
Dev Clever (DEV) five-year exclusive partnership agreement with Veative Labs and the National Independent Schools Alliance, India's largest governing body for budget private educational institutions. Dev Clever's Launchyourcareer will be platform-of-choice to deliver a career guidance across NISA affiliated schools which have c.13m students. [SP=9.15 Cap=43m]

In line: SUN
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 22-Dec-20


Intercede (IGP) wins contract from large US defence contractor. The initial order is $0.2m. [SP=81.5 Cap=41m]
Duke Royalty (DUKE) exit of its investment in royalty partner Welltel for £15.4m, an IRR of 27%. On books at £13.2m. [SP=28 Cap=72m]
Active Energy (AEG) first order for CoalSwitch from the US reference plant for up to 900 tonnes of biomass feedstock. No $$$. [SP=0.4 Cap=6m]
Microsaic Systems (MSYS) ends formal sale process with any definite offers. Sounds like nothing left for shareholders. [SP=0.35 Cap=2m]
Seeing Machines (SEE) total installed base end Nov of over 26,000 Guardian units, with additional hardware sales of 3,500 units still to be connected. Other business updates. [SP=5.75 Cap=215m]
Supply @ME Capital (SYME) Captive Bank Inventory funding project: the secret financial partner is Quadrivio. Quadrivio has cumulatively raised and managed more than €2bn. "Update on the Company's first securitisation issuance is expected before the year-end." Maybe not an actual issuance? [SP=0.47 Cap=162m]
DFS Furniture (DFS) Gross sales over the first 24 weeks of FY up 19% and order bank remains strong. Brexit: under 'WTO terms' there are no tariffs applicable to co's upholstered finished goods. [SP=210 Cap=543m]
SIMEC Atlantis Energy (SAE) has now formally entered into a JV agreement with industry leading alternative fuel production and supply partner, the Netherlands based N+P Group, as mooted in Aug. [SP=14.75 Cap=73m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 23-Dec-20


SEEEN (SEEN) in line. Ghastly pile of jargon at this absurdly named tinpot: "video experience platform that enables creators, brands and publishers to unleash video for improved digital marketing yield and connected audience experiences, including frictionless e-commerce..." [SP=25 Cap=12m]
Immotion (IMMO) Oct rev up 21% on Sept, Nov up 87% despite covid closures. [SP=3.26 Cap=13m]
MaxCyte (MXCT) guides FY head of market expectations in the core life sciences business (before CARMA costs). CARMA? [SP=456 Cap=350m]
Carclo (CAR) wins 10 year framework agreement with a major global OEM for the manufacture of complex medical diagnostic disposable devices. Production contracts (subject to a number of conditions) expected in 22H1 with full production volumes in 22H2 when rev expected to be £10m and £15m PA. [SP=12.2 Cap=9m]
NMCN (NMCN) guides FY loss of £11.2m. Also £5.3m of FY19 pretax adjustments to five contracts in the Water business. The total (£16.5m) is greater than Oct guidance of £13.5-15m. Improved debt collection and delay to supplier payments to operate within current overdraft facilities of £15m. New debt package will be in place by the end of Feb. [SP=275 Cap=29m]
Infrastrata (INFA) £7.4m placing at 45p, a 12.6% discount, for capex. Also OO. [SP=51.3 Cap=33m]
Powerhouse Energy (PHE) see no reason for recent SP rise. [SP=7.7 Cap=286m]
Avation (AVAP) sunlit uplands foreseen at AGM. "Avation is optimistic about the medium term opportunity for air travel particularly the turboprop and narrow-body aircraft sectors. The Company will position itself for a return to growth through opportunistic purchases and delivery of its orderbook." [SP=130.5 Cap=82m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 24-Dec-20
Shrinking Coral

BATM Advanced Communications (BVC) its covid test detects the new strain. [SP=92.4 Cap=407m]
Hargreaves Services (HSP) sells its entire inventory of speciality coal to its German JV for £24m, £3m below book. Stocks of heavy industrial coal expected to be sold over the remainder of the FY. [SP=253.88 Cap=82m]
Yourgene Health (YGEN) added to the Government's approved covid private testing providers list for the Test to Release for International Travel scheme. [SP=14.75 Cap=106m]
Coral Products (CRU) to sell Coral Products (Mouldings) and Interpack for £7.9m initial payment. Purchaser will rent freehold for £300k PA. Disposed rev total £18.6m. Will leave 2 operating subsidiaries with sales of £5.4m. [SP=5.75 Cap=5m]
IXICO (IXI) wins £3.4m trial contract over 4.5 years. Included in FY mgmt expectations. [SP=100.75 Cap=47m]

In line: DCD
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[SwissPaul]

And the smell just keeps on coming
24/12/20 @07.30
OCTANGONAL
Trading on AIM for the under-mentioned securities has been temporarily suspended from 24/12/2020 7:53am, pending an announcement.

24/12/20 @13.30
Statement re Suspension
In relation to the suspension in trading of the Company's Ordinary Shares on AIM this morning, the Company makes the following statement regardingCompany's principal trading subsidiary GIS:
"The Company notes the decision of the U.S. Securities and Exchange Commission to file a complaint alleging that Global Investment Strategy UK Ltd. ("GIS") violated section 15 of the Securities Exchange Act of 1934 by acting as a broker-dealer in the U.S. without registration with the SEC.
The complaint omits several material facts. In particular, the complaint fails to note that GIS neither accepts nor executes orders for U.S. persons.
GIS is a broker, registered with and regulated by the Financial Conduct Authority in the U.K., and provides a broad range of brokerage services in the U.K. GIS' services to U.S. persons, however, are limited to providing secured financing to professional investors and traders. GIS' financing services are all provided after the borrower has already effected the transaction through another broker-dealer. The complaint misleadingly describes these other broker-dealers as introducing broker-dealers, but they are not GIS' correspondents and do not introduce accounts to GIS. GIS does not provide brokerage services to U.S. persons and intends to defend the allegations by the SEC."

This is after:
17 /12/2020
The Company also wishes to advise that it is finalising proposals to seek Shareholder's approval to de-list the Company from AIM pursuant to AIM Rule 41 (the "Cancellation"). The Directors have conducted a review of the various benefits and drawbacks to the Company and its Shareholders in relation to retaining its listing on AIM. The Directors unanimously believe that a potential Cancellation is in the best interest of the Company and its Shareholders:

Backside dropped out of the share price that day. I suppose that is one of the downsides of (can I use the word 'investing' ) putting my money to work in a company where the founder holds over 52% of the company

As an aside he also holds 51.03% of Inspirit Energy Holdings - please note
Salutary lesson to self. Dont invest in companies where Mr John Gunn is CEO