MrC's Smallcap Sweeps for Mar 2023

[MrContrarian]

Smallcap Sweep. 01-Mar-23
Rats leaving the stinking ship

Inland Homes (INL) Chmn and both NEDs resign. Leaves only one director (CFO) so chmn will stay as a NED for up to 2 weeks to find another director. The new CEO left after a month in Jan, no reason given. Co finds some "related party issues (which may or may not fall to be treated as related party transactions under the AIM Rules) of which the Board was not informed at the relevant times". SP down 87% in 18 months. [SP=10.2 Cap=23m]
Purplebricks (PURP) gets several credible expressions of interest in a takeover. [SP=7.55 Cap=23m]
Immotion (IMMO) completes sale of of Location Based Entertainment business. [SP=3.4 Cap=14m]
Mobile Tornado (MBT) £500k subscription at 2p, a 5% discount, to accelerate our business development activities. £260k of debt converted at shares at 2p. Guides FY-Dec rev down 12%. EBITDA -£0.29m (-£0.03m). In line? [SP=1.96 Cap=7m]
Harland & Wolff (HARL) guides FY23 in line with re v £100m-£115m. Guides FY24 rev £200-230m and C/F breakeven. Backlog of contracts c.£900m over 7 years. [SP=16.57 Cap=29m]
Accrol (ACRL) licenses Unilever's Lifebuoy brand for kitchen towels. Will sell it cheaper than the market leader. [SP=31 Cap=99m]
Public Policy (PPHC) buys MultiState Associates, a US government relations and public affairs group, for $22m. Guides FY22 rev up 10%. In line? Says U/L EBITDA margin is in line so why don't they tell us if rev is?. [SP=134 Cap=147m]
ME Group (MEGP) [last nght] delayed promised FY accounts to today, no reason given. Accounts published on website last night look in line though. [SP=126.5 Cap=478m]

In line: RCDO
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-Mar-23
Buy and forget or cash roulette

Hunting (HTG) launches 2030 Strategy. Targets 15% EBITDA margin. It will "leverage existing expertise". Fantastic! [SP=334 Cap=553m]
Poolbeg Pharma (POLB) positive results from human trial of for POLB 001 treatment for severe influenza. Tested on 36 people. [SP=8.42 Cap=42m]
Verici Dx (VRCI) gets Compliance Certification for commercial clinical operations to 45 US states. [SP=8 Cap=14m]
Esken (ESKN) strategic review result: to sell its operating businesses. Sale of Renewables is currently in progress. Exploring sale of Aviation business, primarily London Southend Airport, Continues to seek buyers for its non-core assets (book value of £36m). Problems in wood biomass mkt means FY-Feb EBITDA guidance cut to c. £19m for this biz. Should normalise this FY. Cash headroom in line. [SP=6 Cap=62m]
Aukett Swanke (AUK) to buy Torpedo Factory, an audio, visual and stage technology provider, for £2.8m in paper. TFG shareholders will own 40% of the enlarged group. That's quite a step from architectural and interior design services. [SP=2.4 Cap=4m]
Totally (TLY) guides FY-Mar in line but EBITDA c. £6.3m, below market expectations. Blames inflation, strikes, "delays in the conclusion of tender processes and continuing legal discussions with one commissioner on certain contracts". Div will be in line. [SP=28 Cap=55m]
HSS Hire (HSS) guides FY-Dec LFL rev up 10%, adj EBITDA marginally ahead of market expectations. Recent 8 weeks LFL up 12%. [SP=12.2 Cap=86m]
Let's Explore (LETS) name change from Immotion (IMMO) effective. [SP=NA Cap=NA]


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-Mar-23
Alright, but apart from the regulation, electronic trading, RNSs, tax breaks, dividends and capital gains, what has the stock market ever done for us?

Invinity Energy Systems (IES) to repay $2.1m convert debt. Redemption premium of 10%. [SP=NA Cap=NA]
Quadrise Fuels (QFI) bioMSAR passes optical combustion and engine wear tests. [SP=NA Cap=NA]
Fonix Mobile (FNX) ITV extends mobile interactive services 'partnership' to include SMS billing payments,. [SP=NA Cap=NA]
Mercantile Ports & Logistics (MPL) 3 yr £0.5m PA contract to handle liquid commodities. [SP=NA Cap=NA]
AMTE Power (AMTE) delivery of its first Ultra Prime cells to its customer for testing. [SP=NA Cap=NA]


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. 06-Mar-23
Enought bluff! Stuff that guff up your chuff

ADVFN (AFN) H1-Dec in line. "Our R&D team is working tirelessly to identify emerging trends and technologies that will enable us to stay ahead of the curve and deliver the next generation of products and services." And PR team working lazily to produce the same old cliches. [SP=40 Cap=15m]
WANdisco (WAND) confirms report that it's considering a second listing in the US. [SP=1320.65 Cap=880m]
James Fisher (FSJ) sells the lossmaking James Fisher Nuclear Holdings for a nominal sum. Guides FY-Dec rev-cont up 7% and U/L profit-cont flat. The Specialist Technical division experienced a disappointing year. [SP=392.3 Cap=197m]
Trellus Health (TRLS) FY-Dec trading: "In line with expectations [it] expects to report an EBITDA loss...and revenues of c.$30k". Does that mean the loss is in line though? [SP=6.68 Cap=11m]
Home REIT (HOME) two tenants making up c.18% of rent roll have entered creditors' voluntary liquidation. HOME in discussions with prospective tenants to take on new leases of the portfolios. [SP=38.05 Cap=301m]
Capital (CAPD) MSALABS subsidiary has a strong start in 2023. [SP=106 Cap=204m]
1Spatial (SPA) guides FY-Jan rev up 10% or more and pretax £0.9m+. In line? Confident. [SP=50.48 Cap=58m]
Kingswood (KWG) conforms report that it is exploring a potential sale or third party investment. [SP=27.97 Cap=57m]
Galliford Try (GFRD) get place Southern Water's 39 month £600m framework. [SP=175.4 Cap=189m]
Ethernity Networks (ENET) update on its fibre controller contracts. Co will "will target sales of licensing fees for its PON fibre controller SoC and sales of its PON fibre controller OLT system in various configurations". [SP=7.3 Cap=7m]
Plexus (POS) £5m 12 months contract. Half of cash will come in FY but be booked next FY. [SP=2.72 Cap=3m]
Fusion Antibodies (FAB) warns FY-Mar rev and earnings significantly behind market expectations with rev £2.8m+. Blames a number of valuable projects being suspended by clients due to delayed investment. "There continues to be uncertainty over the timing of commencement of several such anticipated orders." Also "negotiations concerning a significant order for an integrated service contract have progressed but have not concluded". [SP=45 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. 07-Mar-23
WIN lose

MGC Pharmaceuticals (MXC) positive result from in-vitro pre-clinical study on CimetrA's mechanism of action. It's an anti-inflammatory. [SP=0.47 Cap=18m]
SkinBioTherapeutics (SBTX) AxisBiotix-Ps, a food supplement to alleviate the symptoms associated with Psoriasis, approved for EU market. [SP=23 Cap=40m]
Saietta (SED) some revenue delays. Guides FY23 rev up 40%, FY24 100%+. Cost cutting so that no fundraise needed for FY24. CEO to step back to "focus primarily on strategic business development". [SP=35 Cap=36m]
In The Style (ITS) result of strategic review: no offers for whole company. sale of op biz for a measly £1.2m, de-listing. Remember a year ago? "The Group has continued its excellent growth to achieve a strong sales performanc...We have a strong pipeline of new partnerships and collection launches". [SP=6.9 Cap=4m]
K3 Business Technology (KBT) €1.6m 3 year contract, the largest ever software licence contract for its flagship fashion product, K3 fashion. [SP=110 Cap=49m]
Wincanton (WIN) guides FY-Mar in line but has will lose a HMRC logistics services contract from June. This and a challenging external environment means FY24 pretax will be materially lower than market consensus of £63m. [SP=305.5 Cap=379m]
Calnex Solutions (CLX) guides FY-Mar in line but financial performance in FY24 will be below FY23. Blames customers taking a more cautious approach. [SP=172 Cap=151m]
Hercules Site Services (HERC) Amey appoints HERC sole supplier of suction excavator services to the National Highways Area 7 (East Midlands) contract. £2m initial order, will be reviewed every three years, or earlier if required. [SP=41 Cap=26m]
Argo Blockchain (ARB) mining revenue in February $3.76m from $3.42 in Jan. [SP=13.25 Cap=79m]

In line: RBG, RCH
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-Mar-23
Deals on wheels

Journeo (JNEO) £1m software and services contract from Transport for Wales. c. £0.5m will lie in this FY. [SP=140 Cap=23m]
Time Finance (TIME) guides FY-May pretax £3.6m+, ahead of market expectation of £3.2m. Q3 pretax was up 172%. [SP=22.44 Cap=21m]
Camellia (CAM) guides FY-Dec rev-cont c.£294m, adj pretax-cont only 10% down. Previous guidance was 50-55% down. CItes favourable backdated pay rise, higher net sales price, cost control. [SP=4800 Cap=133m]
Vanquis Banking (VANQ) PRA cuts Total Capital Requirement to 11.9% from 18.3%.This will support the Group's focus on organic loan book growth. [SP=220.59 Cap=564m]
Somero (SOM) FY-Dec in line. Guides FY23 rev flat, EBITDA down modestly due to "investments to add product development, global sales and customer support resources". [SP=402.5 Cap=225m]
Amigo (AMG) GM stmt: no material change in the trading activity for the run-off of the legacy loan book. Conversion rate for new brand is improving but remains challenging. Amigo has yet to secure commitments for £45m fundraise required and the situation remains extremely challenging. [SP=NA Cap=NA]
Ovoca Bio (OVB) sells Russian assets for c.£1m. [SP=5.29 Cap=4m]
Galliford Try (GFRD) H1-Dec. Guides FY adj pretax at the upper end of forecasts (£20.3m to £23.3m).. [SP=174 Cap=188m]
Roquefort Therapeutics (ROQ) develops new novel platform of anti-cancer mRNA therapeutics. Co working towards demonstrating efficacy of the mRNA therapeutics in specific cancer targets. [SP=7.75 Cap=10m]
Redx Pharma (REDX) Phase 2 trial data not sufficient to support further development of RXC004 as a monotherapy in advanced biliary tract cancer patients. [SP=40.77 Cap=137m]


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

[SPURLEY]

Galliford Try dividend of 3p payable on 14th April .

[MrContrarian]

Smallcap Sweep. 09-Mar-23
Tragic WAND

WANdisco (WAND) huge fraud by sales employee. FY22 rev could be as low as $9m, not $24m plus no confidence in its announced FY22 bookings expectation. Significant going concern issues. Shares suspended. [SP=1324.41 Cap=905m]
EnSilica (ENSI) £2m placing and £0.5m retail offer at 70p, a 5% discount, for working cap for "additional sector and contract momentum, which has exceeded original estimates". [SP=75.7 Cap=57m]
Global Ports (GPH) wins 15-year cruise port c. oncession for Alicante Cruise Port following previously announced preferred bidder status. [SP=164.5 Cap=105m]
Alpha Financial Markets Consulting (AFM) guides FY23 results significantly ahead of market expectations. Strong double-digit organic net fee income growth. [SP=432.5 Cap=494m]
Verici Dx (VRCI) two key patents for Tutivia and Clarava granted in the US. [SP=8.65 Cap=15m]
IQE (IQE) guides FY22 in line but expects H1'23 rev down c.£30m due to weak demand and inventory build-up. "This near-term market softness is expected [hoped?] to be temporary." [SP=46.78 Cap=376m]
Billington (BILN) guides FY-Dec pretax ahead of market expectations. Also same for FY23 due to strong demand. [SP=359 Cap=46m]
Xeros Technology (XSG) second global license for XFilter filtration technology. 5-year, non-exclusive agreement. [SP=4.5 Cap=7m]
AFC Energy (AFC) general update on H-Power Tower deployment. [SP=23.09 Cap=171m]
Litigation Capital Management (LIT) makes A$5.75m gross from settlement in an Australian class action. [SP=70 Cap=83m]
NWF (NWF) guides FY-May adj pretax £17.5m+, significantly ahead of market expectations of £12.3m. [SP=257.27 Cap=127m]
Franchise Brands (FRAN) FY-Dec. Outlook confident. B2C div to be sold because B2B franchise sector offers better opportunity for organic, acquisitive and international growth. [SP=208.5 Cap=272m]

In line: SBDS
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. 13-Mar-23
Crash-a-banka. SVB RNS tsunami.

Global Ports (GPH) guides FY-Mar adj EBITDA over $65m. Q1-3 rev up 62%. Outlook for the cruise industry is very positive. [SP=159.5 Cap=100m]
Nuformix (NFX) extends this FY from Mar to Sept. Doesn't even give a reason. Surely not kicking the going concern can down the road. [SP=0.32 Cap=2m]
Woodbois (WBI) £3m placing at 1.2p, a 4% discount, for working capital. [SP=1.2 Cap=27m]
MTI Wireless Edge (MWE) FY-Dec rev up 7%, EPS up 3%. Inline? There's been no FY trading stmt. Outlook in line. [SP=48.35 Cap=43m]

In line: NGHT
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-Mar-23
Eneraqua lukewarm.

Eneraqua Technologies (ETP) warns FY-Jan rev c. £55m, lower than previously targeted due to order delays. No contracts have been cancelled..However EBITDA within range of market expectations. Order book £110m. [SP=358 Cap=119m]
Focusrite (TUNE) guides H1-Feb in line with Board expectations. Rev £85m+ (down 9%). H2 weighting. [SP=695 Cap=412m]
Volvere (VLE) guides FY-Dec rev-cont up 24% and pretax-cont £2.33m 9£1.07m). Overall pretax -££0.24m due to loss at the closed Indulgence Patisserie. NAV 1382p/sh (1349p). FY23 trading: "Since the year-end, labour market challenges and raw material price pressures have shown some signs of abating". [SP=994 Cap=24m]
Virgin Wines (VINO) H1-Dec in line. Jan-Feb trading broadly in line with expectations. Maintains FY guidance.. [SP=47 Cap=26m]
Literacy Capital (BOOK) sells Kernel Global at a 48.9% premium to book. Hikes NAV by £9.4m. [SP=397.9 Cap=239m]
Polarean Imaging (POLX) unsuspended following SVB depositor rescue. [SP=27.5 Cap=58m]
ITM Power (ITM) power supply at Bessemer Park to be hiked 300% to allow to significantly increase product testing. [SP=82.14 Cap=506m]


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-Mar-23
Hunky-dory or clunky story

Tremor International (TRMR) confirms that it is in discussions with Goldman Sachs as an ongoing financial adviser but is not currently in a sale process. [SP=260.27 Cap=369m]
Versarien (VRS) taises a pathetic £319k in a placing at 3p, a 20% discount, to keep the lights on. [SP=3.8 Cap=8m]
Fiinu (BANK) raises £6.5m at 13p by a subscription, conversion and £3.5m draw down from a new three year share subscription facility agreement. A 12% discount. [SP=14.5 Cap=38m]
Kingswood (KWG) guides FY-Dec rev down 14% due to lower than expected capital markets activity and a delay in a large one-off, high margin US transaction. Guides op profit £8.5m up 34%, below mgmt exp. [SP=25 Cap=54m]
SigmaRoc (SRC) wins c. £17m compensation from the Swedish state in respect of land use restrictions. It can be appealed. [SP=54.9 Cap=381m]
Dialight (DIA) update on litigation with its former manufacturing partner, Sanmina. Court granted Sanmina's motion as to the dismissal of Dialight's willful misconduct claim but other dismissal motions not granted. [SP=198.2 Cap=65m]
Cordel (CRDL) wins 18 month $6.7m+ contract from Amtrak to supply a fully automated software suite for survey and clearance management. [SP=6 Cap=10m]
Sancus Lending (LEND) sells Sancus Lending (Gibraltar) for £10k. Cost savings of around £200k in run-off costs, plus the avoidance of redundancies and associated expenses. [SP=1.1 Cap=15m]
Bloomsbury Publishing (BMY) guides FY-Feb rev over £260m, comfortably ahead of expectation and adj pretax c. £30m, materially ahead. F/C was for rev £242.6m and pretax £26.9m. [SP=419.44 Cap=342m]
Galliford Try (GRFD) appointed to the new £2.5bn Constructor Services Framework by the Ministry of Justice. [SP=NA Cap=NA]
Quantum Blockchain Technologies (QBT) Italian Appeal Court has ruled in favour of subsidiary CL17 on €6.2m claim but only against the main Sipiem defendant who is now liable in full. Co canm't guide on how much is likely to be collected. [SP=1.8 Cap=15m]
Centaur Media (CAU) FY-Dec. Guides FY23 in line. [SP=51 Cap=75m]


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-Mar-23
Summing up takeaway

Kooth (KOO) selected as the primary vendor partner by the California Department of Health Care Servicesto deliver its digital mental well-being platform for children and young adults. No $$$. [SP=170 Cap=56m]
Ediston Property Investment Company (EPIC) strategic review with a preference for structuring a merger with one or more REITs. Cites small size which "might deter some potential investors", and large discount to NAV. [SP=61.2 Cap=129m]
Home REIT (HOME) extends PUSU deadline to 13 Apr [SP=38.05 Cap=301m]
Inspirit Energy (INSP) operational update on Waste Heat Recovery device, Inspirit Charger. Tests so far show it has has met all co's expectations around reliability and performance. Stage two build and testing should be complete by the end of April. [SP=0.03 Cap=2m]
Empiric Student Property (ESP) FY-Dec. EPRA NTA 115.4/sh up 8%. EPRA earnings 3.4p/sh (up 112%). Outlook "continue to see high levels of demand for our product for the 2023/24 academic year". [SP=83.74 Cap=505m]

In line: GELN, DFS
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-Mar-23
Hoist the smallcap spinnaker

Non-Standard Finance (NSF) proposes £14m scheme of arrangement to limit compensation cliams. Plans recapitalisation with £95m placing, lender haircut and extension of the maturity date. Alternative is insolbency. [SP=0.45 Cap=1m]
Capital & Regional (CAL) completes sale of its interest in The Mall, Luton for £58m. [SP=57 Cap=96m]
Circle Property (CRC) B shares worth158p go ex-entitlement today. Expects another one of 51p in April. [SP=206 Cap=60m]
Yourgene Health (YGEN) CFO steps down, will remain as Company Secretary. He is thanked. [SP=0.3 Cap=9m]


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-Mar-23
Draining the swamp of smallcappery

Tribal (TRB) Nanyang Technological University "has purported to terminate the contract [RNS 23 Feb] and reserved its rights to claim damages".Co rejects this. FY-Dec results delayed to 24 Mar. [SP=49.85 Cap=106m]
Aptamer (APTA) launches Optimer-Fc as a new reagent solution for automated immunohistochemistry workflows.. [SP=28 Cap=21m]
Journeo (JNEO) £0.8m order from Network Rail for the manufacture and supply of passenger information displays. Expects to book rev this FY and is included in mgmt expectations. [SP=137.6 Cap=22m]
Ethernity Networks (ENET) UEP2025 bonding product update. [SP=6.8 Cap=7m]
Genedrive (GDR) MT-RNR1 ID Kit is in process for roll out at two further hospital sites. NICE final recommendation is due towards the end of this month. Does that mean NICE is expected to endorse it? [SP=43 Cap=40m]
Ten Lifestyle (TENG) guides H1-Feb up 49% and adj EBITDA c.£5m (£0.9m), In line? Expects to generate net cash in H2. [SP=88 Cap=74m]
Xeros Technology (XSG) sells third licence for XFilter filtration technology to a company that supplies components for the world's largest domestic washing machine manufacturers,. [SP=4.2 Cap=6m]
AEW UK REIT (AEWU) sells industrial holding for £3.75m, 7% above book. [SP=94.8 Cap=150m]
Saietta (SED) gets 'commercial agreements' with one of the largest OEMs in Indian light-duty mobility market. Production on track to commence in Q3 '23. [SP=21 Cap=22m]
Conygar Investment Company (CIC) sells development site at Haverfordwest for £9.55m, £0.2m over book. [SP=123.06 Cap=74m]
FireAngel Safety Technology (FA.) delivers fourth development milestone of its agreement with Techem Energy Services. Ditches its joint broker Singers. [SP=10.2 Cap=18m]
Spectra Systems (SPSY) FY-Dec rev up 18%, pretax up 18%. COnfusing stmt on expectations: "Company's earnings and revenues are up substantially over 2021 both due to strong sales which would in themselves had [sic] enabled the company to exceed market expectations and which were further increased due to over-manufacturing of covert materials for a Central Bank." Guides FY23 in line. [SP=169.84 Cap=76m]
Mears (MER) FY22 results delayed "due to an unanticipated absence of the senior statutory auditor responsible for signing the accounts". EY has has apologised unreservedly. [SP=195.5 Cap=219m]


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-Mar-23
Slick operation or sick corporation

Pressure Technologies (PRES) good news/bad news. £3m order, underpins FY23 outlook and gives substantial order book coverage for FY24 H1. However won't get FY22 accounts out in time so shares will be suspended on Apr 1. As announced delay is due to adjustments re accounting treatment applied to long-term defence contracts in FY22 and in prior periods to FY19. [SP=41.05 Cap=16m]
Nuformix (NFX) good result from studies of NXP002. [SP=0.32 Cap=2m]
AIQ (AIQ) $459k contract to set up a virtual datacentre; to be fully delivered in approximately seven months. [SP=4.95 Cap=4m]
CML Microsystems (CML) guides FY-Mar in line. Completes sale for £2m parcel of land. [SP=531 Cap=85m]
Renalytix (RENX) adds 3m people to insurance coverage base in US for KidneyIntelX. [SP=80.75 Cap=92m]
ImmuPharma (IMM) Lupuzor Phase 2/3 clinical trial protocol has now been submitted to the FDA. [SP=1.76 Cap=6m]
Tristel (TSTL) submitted the additional data requested by the FDA for Duo ULT high-level disinfectant. A decision is expected before 30 June. [SP=324.5 Cap=154m]
Invinity Energy Systems (IES) .5 MWh sale in Hungary. "The contract was included as part of the Company's Base category in its most recently disclosed commercial pipeline." [SP=29.5 Cap=56m]
EQTEC (EQT) project for waste-to-RNG plant in France. Expects financial close in H2 2024 with the Plant completing construction and commissioning by early 2026. No £££. [SP=0.2 Cap=19m]
Inland Homes (INL) contracts to sell 31 affordable homes to Eastlight Community Homes for £6.54m. Completion will take place in phases over the coming months. [SP=5.5 Cap=12m]
Belvoir (BLV) FY-Dec rev in line, pretax £9.1m ahead of management's expectations. [SP=165.44 Cap=62m]
Northamber (NAR) H1-Dec rev up 4% ut op loss £250k (£116k) due to inflation. [SP=41 Cap=11m]

In line: CNIC, SFR, HYVE
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-Mar-23
Unbound approach looks a shoe-in

Journeo (JNEO) wins £1.6m of contracts.C.£1m will be recognised this FY and is included in management expectations. [SP=155.88 Cap=25m]
Quadrise (QED) name change from Quadrise Fuels (QFI). It's non-stop value enhancement here! [SP=NA Cap=NA]
Unbound (UBG) approach at 10.5p + 1 contingent value right. Cash would be 163% premium. Board minded to recommend if WoolOvers makes a firm offer. [SP=4.08 Cap=3m]
Altitude (ALT) wins c.$30m 5 yr contracts, including $8m signed and subject to State clearance. Rev to start in H1 FY24. Guides FY23 Adj EBITDA ahead of market expectations. [SP=41 Cap=29m]
Verditek (VDTK) €168k order to be delivered in the next 12 weeks. It's the first production order following the development phase from this customer. [SP=0.94 Cap=4m]
Sabien Technology (SNT) £422k order for M2G business. [SP=9 Cap=2m]
Eleco (ELCO) FY-Dec rev in line and pretax slightly ahead of market expectations at £2.9m. Outlook in line. [SP=77 Cap=64m]
Bango (BGO) FY-Dec adj EBITDA $5m ($6.1m), ahead of market expectations pf $4.13m. Current trading good, now expects to exit 2023 with $10m of ARR cf $7m guided. [SP=232 Cap=179m]

In line: DBOX, PGH, ESYS, XAR
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-Mar-23
Pace setters and bed-wetters

LoopUp (LOOP) guides FY-Dec rev c.£16.5m, above market expectations. Adj EBITDA loss c.£1m, in line. Guides FY23 rev up c.25%, positive adj EBITDA. Marginal rev growth in FY24 as Cloud Telephony growth overtakes the decline in Meetings. [SP=2.95 Cap=6m]
AFC Energy (AFC) delivered and validated its first cumulative 100kW Liquid Cooled Fuel Cell with partner ABB E-mobility. "ABB E-mobility has expressed an intention to invest a further £2m into AFC Energy by way of a subscription for shares in the Company replacing the subsequent payments due under the original contract." [SP=20 Cap=148m]
BSF Enterprise (BSFA) £2.9m placing at 17p, a 16% discount, to continue development. Tons of warrants too. [SP=19.83 Cap=17m]
Futura Medical (FUM) a full response to questions plus requested confirmatory data has been resubmitted to the FDA. Will it be enough? Ay, there's the rub. [SP=42.5 Cap=122m]
Gulf Marine Services (GMS) contracts for one of its small class vessels spanning 272 days. [SP=4.69 Cap=48m]
SIMEC Atlantis Energy (SAE) holders have approved the amendment to the 2018 debenture deed in the nick of time. Will extend maturity from end Mar to 2024. Hiked int rate to 10%. Good progress is being made on the additional 120MW Uskmouth BESS project. [SP=1.25 Cap=9m]
Kromek (KMK) repeat orders of $1.1m in medical imaging. [SP=6.54 Cap=28m]
Trakm8 (TRAK) 1 yr contract extension from Sainsbury's. No £££. [SP=13.04 Cap=7m]
Mirriad Advertising (MIRI) Strategic review: interested parties have been invited to put forward non-binding indicative proposals by early April. [SP=1.52 Cap=4m]
Versarien (VRS) AGM stmt: engages experienced strategy and turnaround specialist. NEDs will waive any remuneration indefinitely. Execs may take pay cut. Amazing what can be done now Ricketts has 'resigned'. Desperate for funds eg disposals, potentially available grant income, possible interest from strategic investors or equity. [SP=3.07 Cap=7m]
GSTechnologies (GST) cancels remainder ($800k) of convertible loan facility, having reviewed the capital requirements. [SP=0.36 Cap=6m]
PayPoint (PAY) received ‘letter before action’ from a small number of market participants relating to the issues addressed by these commitments to address the concerns raised in Ofgem’s Statement of Objections (Sept 2020). Co intends to respond robustly whilst continuing to take appropriate legal advice. [SP=461.5 Cap=337m]
Surgical Innovations (SUN) FY-Dec rev £11.34m slightly ahead of market expectations. I make that 0.35% ahead of co's guidance so slight indeed. "Order book is looking positive." [SP=1.83 Cap=17m]

In line: OMIP, UPGS
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. 30-Mar-23
Come the revolution

Revolution Beauty (REVB) FY22 audit publication now expected before end of April, not March. Debt facility reduced to £32m from £40m, and is fully drawn. "This reflects the Group's cash requirements." [SP=8.25 Cap=26m]
Trackwise Designs (TWD) delay to delivery of large order while the EV OEM undertakes a redesign and validation of the Parts to meet their revised design requirements. Guides FY22 rev £7.52m and pre-tax loss of £7.71m. In line? Co expects to recognise a 100% impairment of its investment in Stevenage Circuits Limited andn. a 100% impairment of the inter-company loan. [SP=1.15 Cap=6m]
Genedrive (GDR) MT-RNR1 ID test receives positive final recommendation by NICE Test identifies babies with the MT-RNR1 genetic variant who may be at risk of hearing loss if given aminoglycoside antibiotics. [SP=36.89 Cap=34m]
James Latham (LTHM) guides FY-Mar rev slightly ahead of market expectations but pretax in line. Few signs of price weakness in the immediate future. [SP=1167.5 Cap=235m]
Sanderson Design (SDG) major licensing agreement with Sainsbury's for its Habitat homewares and Tu clothing brands. [SP=122.22 Cap=87m]
Trakm8 (TRAK) contract extension to 2027 with Iceland Foods. [SP=14.8 Cap=7m]
John Lewis Of Hungerford (JLH) H1-Dec. Guides FY rev c.£12m amd adj pretax up. In line? [SP=1.56 Cap=3m]
Tasty (TAST) FY-Dec. Current trading ahead of management expectations. [SP=2.3 Cap=3m]

In line: NEXS, MOON, RBN
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. 31-Mar-23
There's no fuel like a new fuel

Velocys (VLS) welcomes yesterday's gov't consultation paper containing a number of proposals aimed at supporting and financing the development of the sustainable aviation fuel. Proposals "will [would?] help support the ongoing development and financing of the Company's Altalto Immingham reference project". [SP=3.27 Cap=46m]
Chill Brands (CHLL) initial purchase order for its new range of nicotine-free vapour products from a new distributor operating in Florida and the surrounding states. Also taking steps to enable online sales of its vapour products via the Chill.com website using specialist carriers in the US. [SP=4.2 Cap=11m]
Shearwater (SWG) wanrs FY-Mar rev down 25% and adj EBITDA about zeros, significantly behind market expectations of £37.7m and £4.4m resp. Did co really only realise this huge miss yesterday? Blames "delays in orders being finalised with customers in our Services and Software businesses, as well as the recent move by some key customers to one year deals providing more reliable revenue mix in the future." [SP=80.15 Cap=19m]
Tekmar (TGP) subscription, placing and retail offer to raise up to £7.275m at 9p, a 2% premium, to strengthen the balance sheet and working capital. Also £18m max convertible for 'financing acquisition-led growth although is also available to finance significant organic growth initiatives'. Converts have 10% interest and 11.6p strike. [SP=9 Cap=5m]
Journeo (JNEO) £0.6m contract with CrossCountry Rail; includes three-years' support and licencing [SP=169.9 Cap=28m]
Oxford Nanopore Technologies (ONT) platform to be used in study. Will sequence up to 22,000 samples to further research in the initial areas of psychiatric, common and rare disease. [SP=205.03 Cap=1694m]
Powerhouse Energy (PHE) confirms discussion with National Hydrogen regarding projects in West Mundijong, Perth, Australia and Singapore. [SP=1 Cap=40m]
Active Energy (AEG) CoalSwitch progress update. Co "has sufficient funds to finance all current marketing and sales activities required to accelerate and complete the first commercial roll out and deliveries of CoalSwitch". [SP=4.5 Cap=7m]
TPXimpact (TPX) gets waiver on covenant tests due today. Lender reviewing short and medium term cash flow forecasts. Trading in line/ [SP=27 Cap=25m]
Cerillion (CER) £10m 10 yr contract with an existing telecommunications customer. [SP=1100 Cap=324m]
LifeSafe (LIFS) trading has continued to exceed mgmt expectations. Signs £250k invoice finance facility, in case it is required. [SP=35.5 Cap=8m]
FireAngel Safety Technology (FA.) £6m 3 yr contract from British Gas Services. [SP=9.25 Cap=17m]
Jarvis Securities (JIM) killed Person review cntinues. Further update in due course and within the next three months. [SP=135.7 Cap=61m]


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