MrC's Smallcap Sweeps for Jul 2022

[MrContrarian]

Smallcap Sweep. 15-Jul-22
Thirsty Aston Martin burning rubber and cash

Aston Martin Lagonda (AML) huge £650m placing and rights issue at 335p (10% discount) to cut debt and strengthen and accelerate long-term growth. Note SP fell 8% yesterday. Trading in line. [SP=420.8 Cap=490m]
Angle (AGL) 20m placing concluded at 80p, a 14% discount. [SP=93.5 Cap=220m]
Allergy Therapeutics (AGY) guides FY(June) rev £72.8m down 14% on streamlined portfolio. Cost controls have oofset rev fall. "Operating profit pre-R&D for the 2022 year is however expected to be below consensus due to last minute delays of goods in supply chain of £1.4m but this will be offset by lower R&D expenses." [SP=17 Cap=109m]
Novacyt (NCYT) exsig COVID-19 Direct Real-Time PCR test approved in the UK. It "removes the need for manual or automated extraction solutions to significantly improve laboratory workflow and reduce costs". [SP=107.8 Cap=91m]
Town Centre Securities (TOWN) £7.4m tender offer at 185p, a 19% premium. [SP=152 Cap=80m]
DP Poland (DPP) recent LFL LFL) System Sales up 24% in June. Total System Sales up 21%. "I am delighted to see the strong sales performance achieved in the first half." [SP=5.71 Cap=35m]
Avation (AVAP) trading: "following the pandemic as airline travel recovers, there may be a recovery in aircraft valuations". Expects improvemet in cash and liquidity due to "settlement of aircraft sales, re-financing of existing aircraft, collection of the creditor pay-out expected from Virgin Australia and the continued collection of rent arrears". [SP=70.12 Cap=49m]

In line: CPP
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-Jul-22
Shovelling coal into the firebox of fortune

Deepverge (DVRG) Modern Water division wins £1.4m order to monitor water supply ahead of 2022 World Cup. [SP=11 Cap=24m]
GSTechnologies (GST) sells EMS Wiring Systems for 60m GST shares, worth £654k. [SP=1.08 Cap=17m]
CentralNic (CNIC) guides FY(Dec) at least the upper end of current market expectations. H1 rv up 92% and 62% organic. [SP=113 Cap=326m]
Dianomi (DNM) guides H1(June) rev up 4% but adj EBITDA margin halved to 5%. This is expected to improve in H2. In Q2, some advertisers spent more cautiously. Guides FY rev broadly in line with market expectations. [SP=206 Cap=62m]
MTI Wireless Edge (MWE) wins $1.4m PA 3 yr contract. Option to extend for a further four years. [SP=55.15 Cap=50m]
CyanConnode (CYAN) guides FY(Mar) rev above market expectation of £9.3m. Momentum has continued into the new FY. [SP=11.75 Cap=28m]
Cordel (CRDL) guides FY(June) rev up 35% and loss £1.4m (£1.2m). Confident. [SP=6 Cap=10m]
OnTheMarket (OTMP) gets Foxtons on board. [SP=86.67 Cap=65m]
Active Energy (AEG) gets Malaysian Patent for CoalSwitch. [SP=4.3 Cap=7m]
IQE (IQE) files lawsuit against Tower Semiconductor for "stealing trade secrets to unlawfully obtain patents on IQE's technology. These claims relate to IQE's proprietary porous silicon technology which would underpin devices used in 5G and advanced sensing applications." [SP=39.99 Cap=323m]
Tortilla Mexican Grill (MEX) guides H1(July) rev up 60% and 19% LFL. In line? "Group remains on track to deliver against the target outlined at the time of its IPO to open 45 new sites over the coming years." [SP=121.5 Cap=47m]
Barkby (BARK) guides FY(July) rev up 20% and EBITDA £1.6m (-£2.5m). Will sell non-core divisions and investments except the Pub Co, to invest in the real estate strategy. [SP=10.52 Cap=14m]
Tristel (TSTL) guides FY(June) rev and adj pretax n line with consensus forecasts of £28.4m and £4.5m. Final div 3.93p (flat) and special div 3p. [SP=342.5 Cap=162m]

In line: RBGP, PHC
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. 19-Jul-22
24 shares covered, no sweat

Made.com (MADE) guides FY gross rev down 15-30% (was down 0-15%) and adj EBITA c.£-50-70m (was -£15-35m). H1 rev down 19%. Expects c.£20m hit to FY profit due to "additional promotional and clearance activity related to excess inventory...and additional costs in the supply chain due to disruptions at ports and extra handling at warehouses". [SP=38.6 Cap=153m]
Softline (SFTL) to proceed with a demerger of its Russian operation. Co will will consider how best to provide Softline Russia shareholders with liquidity in their shares. [SP=NA Cap=NA]
Hotel Chocolat (HOTC) guides FY(June) rev up 37% to £226m, ahead of market consensus expectations of £212m. U/L pretax in line and statutory reported profit a loss. Outlook "Given the current global macro-economic climate, the Group will now deliberately focus its efforts over the next three years on its most proven and lowest-risk strategies with the greatest potential for further increased profitability and scaled cash generation...The focus on profitable drivers will mean lower sales growth in the short term, and some transitional costs leading to lower profits in FY23". [SP=0 Cap=324m]
1Spatial (SPA) €3m 5 yr contract. [SP=46.58 Cap=51m]
Joules (JOUL) guides FY(May) ad pretax slightly ahead of market expectations of -£1.5m. Growth trend continued, up 8.5% in first six weeks of FY23. Gross margins have also remained under significant pressure. Banks gives further £5m headroom on borrowing facilities to Nov "to support working capital requirements over the Group's forthcoming seasonal borrowing peak". [SP=21.24 Cap=25m]
Luceco (LUCE) guides H1(June) rev down 2%, broadly as expected. Gross Margin 34% (36%). Guides FY adj op profit at the bottom end of current analyst expectations. [SP=113 Cap=173m]
Palace Capital (PCA) will focus on maximising cash returns to shareholders by asset sales. [SP=266.2 Cap=116m]
Feedback (FDBK) no longer providing picture archiving and communication system services for Royal Papworth Hospital as it moves away from that low margin biz. [SP=0.56 Cap=15m]
Harland & Wolff (HARL) £9.6m additional contract win from Cory Group for delivery in FY23. FY22 in line. [SP=13 Cap=21m]
Eagle Eye Solutions (EYE) guides FY(June) rev up 39% and adj EBITDA up 54%. Both ahead of previous upwardly revised market expectations. Outlook confident. [SP=530 Cap=140m]
Hyve (HYVE) MBO of Ukraine div. Annual earn out. Hyve loans £1.2m to be repaid by September 2027. [SP=64.52 Cap=177m]
Yu (YU.) guides H1(June) rev up 90%. "Strong cash generation and cash performance, closing at £15.7m." Guides FY rev up 50%+ and cash in line. [SP=188.15 Cap=31m]
Pebble (PEBB) guides FY(Dec) above market expectations. [SP=92 Cap=154m]
Northcoders (CODE) guides H1(June) rev comfortably in line with management expectations and underlying profitability ahead. Guides FY profit in line as it hikes investment. [SP=235 Cap=16m]
Midwich (MIDW) guides FY slightly ahead of mgmt expectations. H1 rev up 45%. [SP=565 Cap=507m]
Directa Plus (DCTA) REDA Energy will distribute Grafysorber oil response products in certain agreed territories. [SP=98.36 Cap=65m]
Crimson Tide (TIDE) £550k+ contract over 3 yrs. [SP=2.29 Cap=14m]
Haydale Graphene Industries (HAYD) guides FY(June) rev £2.9m, ahead of expectations, but LBITDA marginally behind guidance at £3.35m. Outlook confident. [SP=5.7 Cap=28m]
M.P.Evans (MPE) yet another change to Indonesia palm-oil export levy. It eliminates the export levy completely, leaving only the export tax. [SP=824.52 Cap=445m]

In line: KIE, TRX, SOM, CAPD, NXR
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. 20-Jul-22
Grief Encounter

Costain (COST) guides H1(June) rev ahead of market expectations as it passes on higher costs. Adj op profit in line. Guides FY similarly. [SP=34.7 Cap=95m]
Morses Club (MCL) ("It's not a club") looking at use of a Scheme of Arrangement for dealing with customer redress claims for unaffordable lending. Co might not have adequate liquidity without it. FCA looking at proposal. Guides no profit for FY(Feb 23). No final div. Confident that the Group can return to profitability during FY24. [SP=8.8 Cap=12m]
Harworth (HWG) guides H1(Jun) EPRA NDV already ahead of analyst consensus for Dec 22 which is 211p/sh. [SP=151 Cap=488m]
Netcall (NET) guides FY(June) ahead of market expectations with rev up 12% to £30.5m and adj EBITDA up 20% to £6.4m. Mkt exp are £29.8m and £6m resp. [SP=89.54 Cap=134m]
Oxford Cannabinoid Technologies (OCTP) wins master service agreement and work order from Simbec Research for its first-in-human Phase 1 clinical trial. Starts Q1 2023. No £££. [SP=0.75 Cap=7m]
MyHealthChecked (MHC) guides H1(June) trading ahead of management budgets. Rev £9.8m up 196% and positive EBITDA. FY outlook difficult to predict with any degree of certainty but expects rev up YoY. [SP=2.1 Cap=16m]
Deepverge (DVRG) significant reorganisation: Health / Life Science (Labskin) and Environmental Divisions have been separated. "Exploring a range of options to meet the unprecedented demand for Labskin services and the accelerating growth of Skin Trust Club." [SP=13.5 Cap=30m]
OptiBiotix Health (OPTI) squeezes the PR tube to work up a line of updates. Co is "gradually increasing the range of products, applications, and territories creating the potential to open larger market opportunities putting the Company in a strong position for future growth in this exciting area of healthcare." [SP=35 Cap=31m]

In line: APH, KCT, ART, BMY, PDG, FIF, PAY
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-Jul-22
Hello, Lolly!

SDI (SDI) FY(Apr) rev up 42%. Adj pretax up 60%, ahead of recently upgraded market expectations. [SP=165 Cap=169m]
Fuller, Smith & Turner (FSTA) AGM stmt: recent 16 weeks rev up 3% on pre-pandemic. "Fuller’s is well placed to continue to prosper." [SP=610 Cap=243m]
eve Sleep (EVE) guides H1 rev down 17% vs overall market drop of around 30%. Increase in industry wide promotional activity has continued hit margin. Cutting costs. Sale process continues. [SP=0.89 Cap=2m]
Oxford Biomedica (OXB) expands agreement with Juno Therapeutics to add two new viral vector programmes for Bristol Myers Squibb CAR-T therapies. [SP=471.09 Cap=453m]
eEnergy (EAAS) guides FY(June) rev £22m and adj EBITDA £3m. In line? Order book £25.3m. Outlook: "cash flows expected to reflect continued re-investment of cash profits into growth opportunities...enters FY23 benefitting from a strong pipeline and encouraging momentum". [SP=7 Cap=24m]
Strix (KETL) guides FY post-tax remains broadly in line with expectations of £32.2m. "While the global outlook has weakened in recent months, this is based on the year-to-date performance, an anticipated improvement in trading conditions in the balance of the year." Hiking prices and squeezing costs. [SP=184.8 Cap=383m]
Osirium Technologies (OSI) £140k 3 yr contract. [SP=5.5 Cap=3m]
PensionBee (PBEE) guides FY rev £17-20m. "On track to achieve monthly Adjusted EBITDAM profitability by end of 2022 and monthly Adjusted EBITDA profitability by end of 2023." [SP=95.4 Cap=212m]
Brave Bison (BBSN) guides FY(Dec) ahead of market expectations. H1 rev up 101% and adj EBITDA £1.5m up 3x. [SP=2.19 Cap=24m]
LBG Media (LBG) guides FY(Dec) at least in line with market expectations of rev £65.4m and adj EBITDA £20.1m. [SP=105.83 Cap=218m]
DP Eurasia (DPEU) Strong growth achieved in H1 "while set against very strong comparatives". Reinstating guidance for FY(Dec): Turkey LFL 55 - 65% (not inflation adjusted) but Russia 0. Turkey's inflation is well above 65% though. [SP=57.5 Cap=84m]
Brand Architekts (BAR) guides FY reb down 11% and 16% organic. "Operating loss in the second half in line with that reported in the first half but was also impacted by lower revenue in the period." [SP=55.43 Cap=15m]
IXICO (IXI) contract for "a range of services to support the phase II dose finding study to explore safety, biomarkers and efficacy of the investigative drug in over 300 participants". No £££. [SP=30 Cap=14m]
Guild Esports (GILD) one-year global sponsorship deal with The Coca-Cola, value is confidential. [SP=1.63 Cap=8m]
Journeo (JNEO) £0.6m order for the supply and support of passenger information display systems for a City Centre bus station upgrade. [SP=110.08 Cap=10m]
East Imperial (EISB) guides H1(June) rev up 32%. Asia-Pacific region sales ahead of the Board's expectations. [SP=2.3 Cap=8m]
Avacta (AVCT) JV AffyXell has successfully completed a funding round. [SP=114.1 Cap=291m]
Hansard Global (HSD) guides FY(June) new business down 30%. Q4 even worse at 50% down, "impacted by economic uncertainty, geopolitical developments, the aftermath of Covid-19 restrictions around the world, and a general hesitancy by clients to commit to long-term savings products". [SP=41 Cap=56m]
Fonix Mobile (FNX) guides FY(June) rev and and profit comfortably in line with management's expectations. Adj EBITDA up 16.3%. [SP=153 Cap=153m]

In line: COG, IUG
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-Jul-22
TON of disappointment

Unbound (UBG) [last night] £3.3m placing & £1m OO at 15p, a 32% discount. Total is 68% of existing share capital. Market expectations "do not reflect any income or expenses associated with the Group's growth plans for the wider Unbound platform or other Group costs such as for the head office. The Directors estimate that these other Group costs will be approximately £2m in FY23." So where did analysts get this duff info from? And didn't the company think to tell analysts they'd totally missed HO costs? [SP=21 Cap=9m]
Supply@ME Capital (SYME) reviewing relationship with TradeFlow, its wholly-owned subsidiary. "The review is aimed at maximising value creation and positioning of both TradeFlow and the Company for long-term growth...no decision on any particular transaction or alternative has been reached at this time". Is co thinking of selling this wonderful acquisition? Also OO terms as mooted. [SP=0.08 Cap=34m]
AssetCo (ASTO) circular re 10:1 split. What a waste of time. [SP=770 Cap=115m]
Mirriad Advertising (MIRI) guides FY(Dec) flat at c.£2m due primarily to significantly weaker than expected market conditions in China. H2 weighted. Cost control programme to deliver £2.5m PA saving. Orderly wind down in China agreed for the end of the current Tencent contract to Q1 2023, saving £1m PA. "We will now be leaning more into digital - in the EU and APAC - to reflect positive initial progress made on this front in North America." [SP=14.6 Cap=41m]
Stanley Gibbons (SGI) proposes listing cancellation, pushed by 58% holder Phoenix Asset Management which is propping SGI up with loans. Broker will buy up shares at 1.5p, a 3.5% premium to let small holders exit. [SP=1.48 Cap=6m]
Titon (TON) warns on FY(Sept). Material shortages and higher costs continue. Also new ERP system but "ed to short-term production and despatch delays which resulted in lower than expected revenues for the last three months of trading". Sales have now returned to more normal monthly levels. [SP=80 Cap=9m]
Record (REC) Q1 AUME net inflows of US$2bn and £2.3m performance fees. However decrease in AUME from market movements of 4.7%. [SP=70.4 Cap=140m]


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. 25-Jul-22
RNS ramjet

Science (SAG) H1(June) slightly ahead of mgmt expectations. Rev up 10%, adj EPS up 10%. "Group is experiencing increases in materials, energy and staff costs but has to date managed to offset the effects." [SP=394 Cap=179m]
CYBA (CYBA) subsidiary Narf has signed its first commercial contract for its Threat Intelligence for Grid Recovery suite. [SP=1.2 Cap=22m]
MGC Pharmaceuticals (MXC) YTD cash receipts up 134%. Cutting costs. [SP=1.25 Cap=57m]
Naked Wines (WINE) CFO scarpers. He is thanked. [SP=165.01 Cap=121m]
EnSilica (ENSI) $30m order over 7 yrs. [SP=47.9 Cap=35m]
Parity (PTY) H1(June) Net Fee Income up to 9%. Guides adj EBITDA c.£0.3m (negative). [SP=8.49 Cap=9m]
Guild Esports (GILD) ponsorship deal with Hyperice. No £££. [SP=2.15 Cap=11m]
Crimson Tide (TIDE) £1.4m+ 3 yr contract. [SP=2.2 Cap=14m]

In line: VLG, EBQ, JDG
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. 26-Jul-22
Smallcap sludge from the sump of news

Oxford Biomedica (OXB) Licence and Supply Agreement with an undisclosed US-based private biotechnology company advancing a new generation of adoptive cell therapies. Payments confidential. [SP=459.32 Cap=441m]
Corero Network Security (CNS) guides H1(June) rev up 6% and order intake up 22%. In line? [SP=10.98 Cap=54m]
Greencore (GNC) guides FY(Oct) adj EPS 9.2-10p cf mkt f/c of 9.6p. "Inflation trends are expected to continue into FY23 and the Group continues to monitor closely the impact of the inflationary environment on consumer sentiment and demand, as well as working with customers and supply partners to mitigate the ongoing impact on consumer prices." [SP=107.3 Cap=565m]
Dotdigital (DOTD) guides FY(June) rev up 8%, in line with market expectations with adj EBITDA and adj operating profit ahead of market expectations. [SP=77.1 Cap=230m]
Wickes (WIX) guides H1(July) LFL rev up 1%. Core LFL rev down 5.5% but significantly ahead on a three-year basis. Sgns of softening in DIY and Do-It-For-Me markets. Guides FY pretax £72-82m. [SP=169 Cap=439m]
Shoe Zone (SHOE) hikes FY22 adj pretax guidance to £9.5m+. "Trading has been stronger than expected due to higher than expected demand for summer products, particularly in the last two weeks." [SP=180 Cap=90m]
Brighton Pier (PIER) guides FY(June) net sales up 196% and 25% on pre-covid. EBITDA £10.8m, above mkt exp. "This trading period has been exceptional, benefiting both from pent-up customer demand and from hospitality-targeted Government recovery packages. The cash-generative nature of the Group's diverse businesses puts us in a unique position to capitalise on new opportunities as and when they arise." [SP=82.5 Cap=31m]
MyHealthChecked (MHC) suite of cheek- swab DNA at-home wellness tests listed on Amazon UK. [SP=1.74 Cap=14m]

In line: JSG, MGP, ANCR, LORD, ERGO, PGH, LTG, DXRX, DNL, RCDO, KOO, OTMP
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. 27-Jul-22
Is there life in MARS?

Yourgene Health (YGEN) FY(Mar) rev up 105% and "ahead of previously upgraded expectations". But the Apr FY trading update guided rev "up 105% on the previous year and in line with recently upgraded guidance." So misleading. [SP=7.51 Cap=55m]
PCI-PAL (PCIP) guides FY(June) ahead of market expectations with up c.60% to £11.9m and adj loss before tax c. £2.9m (2021: £3.5m). [SP=60.3 Cap=39m]
Parsley Box (MEAL) guides H1(June) rev down 31%, adj EBITDA -£2.1m (-£3.6m). Average order value ("AOV") up 25% to £45. Marketing spend cut. "However, the cost of acquiring new customers has continued to increase, reaching £34 in H1 (H1 2021: £31) and the cost of a repeat order has risen to £6 (£3)." Cuts FY rev guidance to £19m and adj EBITDA broadly in line with expectations at -£4.1m. What a crock. [SP=17.04 Cap=12m]
Motorpoint (MOTR) AGM stmt: Q1 rev up c.30% but gross margins down gainst record levels. [SP=192 Cap=173m]
Boku (BOKU) guides H1(June) payments revenues $30.3m+ ($30.7m). Pretax $29.5m ($1.9m) including profit on disposal of Identity division of $24.0m, net of disposal costs. In line? [SP=88.5 Cap=264m]
Quadrise Fuels (QFI) Framework Agreement with MSC Shipmanagement: "proof-of-concept tests and subsequent operational trials will be carried out using both bioMSAR™ and MSAR® fuel on one or more commercial container vessels, as essential precursor steps to the intended commercial supply of these fuels to MSC's global fleet." [SP=1.4 Cap=20m]
FireAngel (FA.) guides H1(June) rev up 15% and U/L pretax -£1.6m (-£1.5m), both ahead of budget. Still guides FY in line. [SP=11.1 Cap=21m]
Tekmar (TGP) £1.6m contract for Cable Protection Systems in China. For delivery in 2022. [SP=10.8 Cap=7m]
AEW UK REIT (AEWU) June NAV 126.5p/sh, up 4.87p on March. NAV total return of 6.53% for the quarter. Q div 2p (2p) total. [SP=113.6 Cap=180m]
Marston's (MARS) recent 42 weeks rev down 2% on 2019. Recent 16 weeks LFL down 1%. Electricity costs expected to be c. £2m higher than previously guided for H2. "We are making considerable progress with the transition away from our value food Two for One brand which will be complete by the end of September." [SP=47.64 Cap=302m]
Wilmington (WIL) guides FY(June) rev up 7% but 15% organic. Adhj pretax £20.7m (£15m), ahead of expectations. [SP=262.96 Cap=231m]
CAP-XX (CPX) settles legal dispute with Systematic Power Manufacturing. Will sell supercaps for microgrid applications under agreement with Systematic Power Manufacturing. [SP=4.61 Cap=23m]

In line: EMAN, XLM, SKL, ELCO
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. 28-Jul-22
wince at INCE shareholder rinse

Metro Bank (MTRO) H1(June) underlying revenue up 31% and U/L loss before tax £48m (£110m). "Now expect to reach monthly breakeven during Q1 2023." What was it before? [SP=83.3 Cap=144m]
Pennant (PEN) guides H1(June) rev down 7%, EBITA £0.1m (-£1m). Net debt £4.1m . "Net debt position is expected to materially improve during the second half, as invoices on three programmes, and other contracts, are raised and settled." [SP=32 Cap=12m]
Ince (INCE) £7m placing at 5p, a super nasty 59% discount, and £1.6m loan. Needed for working cap and cost rationalisation. Trading "revenues in May and June have progressively recovered to near 2021 levels". FY dealyed to Sept largely as a result of the impact of the cyber-attack. [SP=12 Cap=12m]
MySale (MYSL) guides FY(June) rev down 20%. Blames growth in the marketplace platform and the associated channel mix. Gross profit down 13%. Outlook "whilst there is an excess of global inventory, the costs of international shipping remain challenging". [SP=2.83 Cap=24m]
Cambridge Cognition (COG) PTSD trials with a top 10 pharmaceutical company and also US DoD. No £££. [SP=129.5 Cap=40m]
Sareum (SAR) submits Clinical Trial Authorisation application to UK MHRA for development of TYK2/JAK1 inhibitor SDC-1801 for autoimmune disease. Cash at hand end June was £4.3m. [SP=184.5 Cap=126m]
Virgin Wines (VINO) guides FY(June) down 6%. EBITDA post IFRS £6.3m (£7m). New customers acquired 5% ahead of exp. [SP=75 Cap=42m]
discoverIE (DSCV) Q1 rev up 27% (at const FX) and up 17% organic. Orders were stronger than expected. U/L earnings ahead of the Board's expectations. [SP=684 Cap=653m]
Glantus (GLAN) contract from Dole Ireland to provide an automated statement reconciliation solution. No £££. [SP=35.67 Cap=13m]
SRT Marine Systems (SRT) FY(Mar) in line. Outlook "expect to see a material recovery in our financial results driven by existing and new contracts in our systems division and moderate, production constrained, growth, in our transceivers business". Get that toast ready! [SP=29.15 Cap=53m]

In line: ALFA, SAAS, SAA, EMR, EPWN, HEAD, MAB1, FNTL
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. 29-Jul-22
Applying the rack to straighten out the truth

MGC Pharmaceuticals (MXC) $10m+ convertible loan facility. Is it a death spiral? Replaces the unused amount of the convertible facility announced in September 2020. [SP=1.16 Cap=52m]
Supply @ME Capital (SYME) its first Inventory Monetisation transaction "is in the final stage of its completion". [SP=0.09 Cap=36m]
Tintra (TNT) AGM stmt on progress in sorting out legacy mess. [SP=120 Cap=18m]
Saietta (SED) audited FY(Mar) result delayed into early Aug. No reason. [SP=141 Cap=120m]
ThinkSmart (TSL) holders to get value of US Block holding via a takeover. Holders would get c. 36p at current Block SP and $ rate. What about its other assets? "There is little or no value in ThinkSmart's business operations, comprising the legacy leasing business and provision of an outsourced call centre customer support service to support the Clearpay business." Co says scheme "compares favourably to the timing of any exit for shareholders if the Group were to be liquidated following conclusion of the wind down of ThinkSmart's business operations, noting there may also be significant costs involved in a liquidation scenario as well as the time taken to complete the liquidation process before a final distribution of any remaining cash could be made to shareholders". But co could just sell its Block shares itself. Why has it even hung onto them so long? Co had 3.7p/sh net cash at End Dec and said in Mar "Managed wind down of legacy operations continues to generate positive cash flow". Smells. [SP=23.75 Cap=25m]

In line: ETP, SRC
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