Smallcap Sweep. 01-Mar-24
Set up to flail
Sondrel (SND) cash-strapped co's talks "at a very advanced stage" re £0.9m secured 15% convertible, needed for Feb payroll. Would immediately convert at 10p if co raises c.£6m+. [SP=9.5 Cap=8m]
Live Company (LVCG) £200k loan from chmn by converts (strike 3p). Negotiations with two separate strategic investors. Remains suspended. [SP=2.08 Cap=5m]
Nuformix (NFX) £150k placing at 0.2p, a 23% discount, to further advance its NXP002 programme = keep the lights on. Btter buy some 2 watt bulbs. [SP=0.26 Cap=2m]
FD Technologies (FDP) FY-Feb trading: rev slightly below consensus at £247m+, adj EBITDA £22.5m+, in line. KX subs annual contract value only £14m. Blames lower conversion ratio and longer sales cycles plus delayed decision making on a small number of larger contracts. First Derivative rev down 7%.. Also structure review: first step is all-share merger of its MRP biz with CONTENTgine, a provider of B2B technology buyer insights and lead generation. "Board will take a measured approach to the separation of KX and First Derivative." [SP=1324 Cap=372m]
eEnergy (EAAS) Guides FY-Dec (18 months) rev £46m and adj EBITDA £5.1-5.3m. Co has "re-profiled solar project revenue and adjusted the FY23 results for the Energy Management division in relation to its subsequent disposal" Westminster Bank to provide up to £40m of project funding. [SP=6.64 Cap=26m]
Orchard Funding (ORCH) makes provision of c. £500k for fraudulent credit agreements. Co making "a thorough review of its wider lending book and introducer network to satisfy itself that no fraud risk exists elsewhere in its current loan book". [SP=24.84 Cap=5m]
Huddled (HUD) gets $1.325m in settlement of the loan note from Immotion, the purchaser of LBE. RNS wrongly titled 'Receipt of Loan Note'. [SP=2.55 Cap=8m]
Superdry (SDRY) PUSU deadline extended to 29 Mar. [SP=39.4 Cap=39m]
Alpha Real Trust (ARTL) NAV at end Dec 213.2p, down 1.1p over 3 months. [SP=140 Cap=83m]
R&Q Insurance (RQIH) re press speculation: co expects closing of Accredited sale to occur in Q2 2024. Co " continues to evaluate any and all options so as to realise value from its Legacy Insurance business". [SP=5.65 Cap=21m]
4basebio (4BB) wins tender to deliver research and GMP-grade synthetic DNA. No £££. [SP=815 Cap=104m]
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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MrC's Smallcap Sweeps for Mar 2024
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MrContrarian
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MrContrarian
- Lemon Quarter
- Posts: 1778
- Joined: November 4th, 2016, 2:45 pm
- Has thanked: 43 times
- Been thanked: 1611 times
Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 04-Mar-24
Electro-motive farce
Saietta (SED) electric motor innovator blows its windings as it fails to secure additional funding of the scale and form required and no buyer for biz. [SP=0.62 Cap=1m]
RC365 (RCGH) £4m max convert " for the continuing development of the Company's existing operations". Convert at 20% discount. Smels like a death spiral. [SP=9 Cap=12m]
RegTech Open Project (RTOP) guides FY-Dec rev down c.£0.5m from £1.1m due to large additional one-off, project-based revenues in FY22. Current trading: £0.4m booked so far. FY24 sales pipeline is at £1.3m. Strategy update. Still not getting all fubnds promised under Shareholder Loan Agreement. [SP=3.31 Cap=2m]
Bridgepoint (BPT) delay to adding Energy Capital Partners to the platform due to rejection by the Federal Energy Regulatory Commission. "Bridgepoint is also working with the relevant shareholder to address the points raised in the FERC order." [SP=265 Cap=2104m]
Digital 9 Infrastructure (DGI9) Revolving Credit Facility lenders approve the Verne Global disposal. Remaining hurdle is merger control approval in Iceland and on Foreign Direct Investment approval in Finland. [SP=18.84 Cap=163m]
Hipgnosis Songs Fund (SONG) independent valuation gives catalogue value of $1.74-2bn after deducting contingent catalogue bonuses of $60m cf $2.55bn previously. Makes SONG NAV $1.17/sh from $1.7392 in Sept. [SP=63.1 Cap=765m]
EnSilica (ENSI) wins order worth €3.8m over this and next FY. [SP=67 Cap=55m]
Renalytix (RENX) gets takepover approach and launches Formal Sale Process. Also "advanced discussions with certain existing shareholders as well as potential new equity and debt providers". [SP=42 Cap=50m]
Rosslyn Data Technologies (RDT) warns FY-Apr likely to be only £2.8-£3m and adj EBITDA loss c. £2.6-£2.8m. Blames "extended timeframes for interactions with partners" due to size and nature of contract opportunities. Has £800k at hand. [SP=16.13 Cap=3m]
Mirriad Advertising (MIRI) 2 yrs agreement with a leading US media and entertainment co that will enable the Partner "to identify virtual product placement opportunities and introduce in-content advertising into its content." "Virtual product placement"? Crickey! [SP=1.25 Cap=6m]
Vertu Motors (VTU) guides FY-Fec adj pretax broadly in-line with mkt exp. UK used vehicle values have stabilised. [SP=67.5 Cap=228m]
Hargreaves Services (HSP) agrees a pension buy-in to get short of deficit funding. Will cost £6.6m max and will likely take 12 to 24 months. [SP=518 Cap=169m]
In line: QTX
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
Electro-motive farce
Saietta (SED) electric motor innovator blows its windings as it fails to secure additional funding of the scale and form required and no buyer for biz. [SP=0.62 Cap=1m]
RC365 (RCGH) £4m max convert " for the continuing development of the Company's existing operations". Convert at 20% discount. Smels like a death spiral. [SP=9 Cap=12m]
RegTech Open Project (RTOP) guides FY-Dec rev down c.£0.5m from £1.1m due to large additional one-off, project-based revenues in FY22. Current trading: £0.4m booked so far. FY24 sales pipeline is at £1.3m. Strategy update. Still not getting all fubnds promised under Shareholder Loan Agreement. [SP=3.31 Cap=2m]
Bridgepoint (BPT) delay to adding Energy Capital Partners to the platform due to rejection by the Federal Energy Regulatory Commission. "Bridgepoint is also working with the relevant shareholder to address the points raised in the FERC order." [SP=265 Cap=2104m]
Digital 9 Infrastructure (DGI9) Revolving Credit Facility lenders approve the Verne Global disposal. Remaining hurdle is merger control approval in Iceland and on Foreign Direct Investment approval in Finland. [SP=18.84 Cap=163m]
Hipgnosis Songs Fund (SONG) independent valuation gives catalogue value of $1.74-2bn after deducting contingent catalogue bonuses of $60m cf $2.55bn previously. Makes SONG NAV $1.17/sh from $1.7392 in Sept. [SP=63.1 Cap=765m]
EnSilica (ENSI) wins order worth €3.8m over this and next FY. [SP=67 Cap=55m]
Renalytix (RENX) gets takepover approach and launches Formal Sale Process. Also "advanced discussions with certain existing shareholders as well as potential new equity and debt providers". [SP=42 Cap=50m]
Rosslyn Data Technologies (RDT) warns FY-Apr likely to be only £2.8-£3m and adj EBITDA loss c. £2.6-£2.8m. Blames "extended timeframes for interactions with partners" due to size and nature of contract opportunities. Has £800k at hand. [SP=16.13 Cap=3m]
Mirriad Advertising (MIRI) 2 yrs agreement with a leading US media and entertainment co that will enable the Partner "to identify virtual product placement opportunities and introduce in-content advertising into its content." "Virtual product placement"? Crickey! [SP=1.25 Cap=6m]
Vertu Motors (VTU) guides FY-Fec adj pretax broadly in-line with mkt exp. UK used vehicle values have stabilised. [SP=67.5 Cap=228m]
Hargreaves Services (HSP) agrees a pension buy-in to get short of deficit funding. Will cost £6.6m max and will likely take 12 to 24 months. [SP=518 Cap=169m]
In line: QTX
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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MrContrarian
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 05-Mar-24
Poverty of expectations
BlackBird (BIRD) FY-Dec rev down 32%. Pretax -£2.6m (-£2m). Tries ever so hard to be positive about FY24. [SP=6.24 Cap=23m]
Headlam (HEAD) FY-Dec. Outlook - "market weakness observed at the end of 2023 has continued into the first few weeks of 2024". Also operating cost inflation still high. [SP=205 Cap=166m]
Somero Enterprises (SOM) FY-Dec in line. Guides FY24 rev 'comparable' and BITDA slightly lower due to "modest incremental investment". [SP=346 Cap=192m]
Beeks Financial Cloud (BKS) c. £5m five yr contract. Rev starts H1 FY25. [SP=174 Cap=115m]
Active Energy (AEG) to get $1.65m as it settles dispute with Player Holdings which pulled out of deal to build a production plant. [SP=0.34 Cap=1m]
Esken (ESKN) extension (to ?) agreed to yesterday's deadline for co agree to London Southend Airport bondholders' recapitalisation proposal. Negotiations continue. [SP=0.19 Cap=2m]
Argo Blockchain (ARB) still selling the family silver as it takes $6.1m for Quebec data center. Co will lose minimal revenue. [SP=17.5 Cap=119m]
Harland & Wolff (HARL) becomes preferred bidder status for the Falkland Islands Port Replacement Project. It ould generate £100-120m rev over a two-year period, with works expected to commence this year. Don't all these clients know how perilous the co's finances are? [SP=10.09 Cap=17m]
Oxford Biomedica (OXB) guides FY-Dec rev and EBITDA in line. Guides FY24 rev £126-£134m "reflecting the successful integration of ABL Europe and anticipated growth from new and existing client programmes". Three-year rev CAGR increased to 35%+ from 30%+. [SP=167.2 Cap=167m]
Tern (TERN) Konektio goes bust so Tern's holding (£223k book) worthless. [SP=1.85 Cap=8m]
Petrofac (PFC) still negotiating (see RNSs 4 & 20 Dec) with credit providers to get the performance guarantees which are contractually required for other recently awarded contracts. Making progress in exploring the sale of non-core assets. [SP=23.6 Cap=123m]
In line: 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.
@MrContrarian
Poverty of expectations
BlackBird (BIRD) FY-Dec rev down 32%. Pretax -£2.6m (-£2m). Tries ever so hard to be positive about FY24. [SP=6.24 Cap=23m]
Headlam (HEAD) FY-Dec. Outlook - "market weakness observed at the end of 2023 has continued into the first few weeks of 2024". Also operating cost inflation still high. [SP=205 Cap=166m]
Somero Enterprises (SOM) FY-Dec in line. Guides FY24 rev 'comparable' and BITDA slightly lower due to "modest incremental investment". [SP=346 Cap=192m]
Beeks Financial Cloud (BKS) c. £5m five yr contract. Rev starts H1 FY25. [SP=174 Cap=115m]
Active Energy (AEG) to get $1.65m as it settles dispute with Player Holdings which pulled out of deal to build a production plant. [SP=0.34 Cap=1m]
Esken (ESKN) extension (to ?) agreed to yesterday's deadline for co agree to London Southend Airport bondholders' recapitalisation proposal. Negotiations continue. [SP=0.19 Cap=2m]
Argo Blockchain (ARB) still selling the family silver as it takes $6.1m for Quebec data center. Co will lose minimal revenue. [SP=17.5 Cap=119m]
Harland & Wolff (HARL) becomes preferred bidder status for the Falkland Islands Port Replacement Project. It ould generate £100-120m rev over a two-year period, with works expected to commence this year. Don't all these clients know how perilous the co's finances are? [SP=10.09 Cap=17m]
Oxford Biomedica (OXB) guides FY-Dec rev and EBITDA in line. Guides FY24 rev £126-£134m "reflecting the successful integration of ABL Europe and anticipated growth from new and existing client programmes". Three-year rev CAGR increased to 35%+ from 30%+. [SP=167.2 Cap=167m]
Tern (TERN) Konektio goes bust so Tern's holding (£223k book) worthless. [SP=1.85 Cap=8m]
Petrofac (PFC) still negotiating (see RNSs 4 & 20 Dec) with credit providers to get the performance guarantees which are contractually required for other recently awarded contracts. Making progress in exploring the sale of non-core assets. [SP=23.6 Cap=123m]
In line: 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.
@MrContrarian
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MrContrarian
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 06-Mar-24
The Value Destruction Olympics
Esken (ESKN) big d4e as it caves to Cyrus Capital Partners demand for immediate Southend Airport bond repayment. Will de-list. Holders probably get nothing. [SP=0.15 Cap=2m]
MicroSalt (SALT) US Patent Office says the claims are patentable in co's application for a patent for the production of MicroSalt. Expects patent grant shortly. [SP=90 Cap=39m]
Sondrel (SND) issues £875k convert to ROX Equity Partners at 15% PA to pay Feb payroll and other creditors. Strike is 10p and converts immediately on equity raise of £6.5m min. [SP=10.1 Cap=9m]
ImmuPharma (IMM) financial and biz update. Says it has no current plans to raise equity. Updates on drug dev. Multi-billion mkt natch'. [SP=0.89 Cap=4m]
Harland & Wolff (HARL) wins five-year Master Services Agreement for the fabrication of large structures. First order is £3m over 18 months. [SP=12.2 Cap=21m]
Digital 9 Infrastructure (DGI9) gets Icelandic approval for sale of Verne Global. "Change of Control Consent is still conditional, the Company is confident that all conditions which will need to be met have either already been satisfied or will be satisfied shortly before completion." [SP=18.95 Cap=164m]
Active Energy (AEG) receives $1.65m cash from the PDI Parties that pulled out of CoalSwitch plant project. [SP=1.11 Cap=2m]
Science in Sport (SIS) guides FY-Dec EBITDA £2m, in-line with market expectations despite rev down 1.6%. Guides FY24 rev broadly flat and a doubling of underlying EBITDA. [SP=16.51 Cap=30m]
LSL Property Services (LSL) Jan-Feb U/P op profit up by £7.5m, materially ahead of mgmt exp. Has seen a material and sustained increase in valuation instructions. Mortgage completions in line. [SP=238 Cap=247m]
React (REAT) proposes 50:1 consolidation. [SP=1.36 Cap=14m]
In line: LIKE, 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.
@MrContrarian
The Value Destruction Olympics
Esken (ESKN) big d4e as it caves to Cyrus Capital Partners demand for immediate Southend Airport bond repayment. Will de-list. Holders probably get nothing. [SP=0.15 Cap=2m]
MicroSalt (SALT) US Patent Office says the claims are patentable in co's application for a patent for the production of MicroSalt. Expects patent grant shortly. [SP=90 Cap=39m]
Sondrel (SND) issues £875k convert to ROX Equity Partners at 15% PA to pay Feb payroll and other creditors. Strike is 10p and converts immediately on equity raise of £6.5m min. [SP=10.1 Cap=9m]
ImmuPharma (IMM) financial and biz update. Says it has no current plans to raise equity. Updates on drug dev. Multi-billion mkt natch'. [SP=0.89 Cap=4m]
Harland & Wolff (HARL) wins five-year Master Services Agreement for the fabrication of large structures. First order is £3m over 18 months. [SP=12.2 Cap=21m]
Digital 9 Infrastructure (DGI9) gets Icelandic approval for sale of Verne Global. "Change of Control Consent is still conditional, the Company is confident that all conditions which will need to be met have either already been satisfied or will be satisfied shortly before completion." [SP=18.95 Cap=164m]
Active Energy (AEG) receives $1.65m cash from the PDI Parties that pulled out of CoalSwitch plant project. [SP=1.11 Cap=2m]
Science in Sport (SIS) guides FY-Dec EBITDA £2m, in-line with market expectations despite rev down 1.6%. Guides FY24 rev broadly flat and a doubling of underlying EBITDA. [SP=16.51 Cap=30m]
LSL Property Services (LSL) Jan-Feb U/P op profit up by £7.5m, materially ahead of mgmt exp. Has seen a material and sustained increase in valuation instructions. Mortgage completions in line. [SP=238 Cap=247m]
React (REAT) proposes 50:1 consolidation. [SP=1.36 Cap=14m]
In line: LIKE, 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.
@MrContrarian
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MrContrarian
- Lemon Quarter
- Posts: 1778
- Joined: November 4th, 2016, 2:45 pm
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 07-Mar-24
Pepper spray for promoters
Tribe Technology (TRYB) startup aiming to revolutionise mine drilling has "switched on the engine of the autonomous Drill Rig prototype for the first time". Well, slap my thigh! Co also working on autonomous barrel scraper. [SP=6.07 Cap=13m]
HSS Hire (HSS) sells power generation biz for £23.25m. Biz made £6m op profit in FY22. [SP=8.8 Cap=62m]
BSF Enterprise (BSFA) working with the UK's leading cultivated meat production company, Ivy Farm Technologies, to help fundraise, launch and scale its cultivated meat plans in China. BSF will invest in Ivy Farm. [SP=7.75 Cap=8m]
TT Electronics (TTG) FY-Dec. EPS -3.9 (-7.5) but adj EPS 19.2p up 5%. Difference mainly asset impairments and "measurement losses". Huh? Outlook - confident of 10% op margin in FY24, from 8.6%. [SP=139.8 Cap=248m]
Brooks Macdonald (BRK) H1-Dec. Guides FY profit in line but now expect net FuM outflows for FY. [SP=1650 Cap=271m]
Robert Walters (RWA) FY-Dec. Outlook - trading still muted. [SP=431 Cap=312m]
In line: NEXS, KIE
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
Pepper spray for promoters
Tribe Technology (TRYB) startup aiming to revolutionise mine drilling has "switched on the engine of the autonomous Drill Rig prototype for the first time". Well, slap my thigh! Co also working on autonomous barrel scraper. [SP=6.07 Cap=13m]
HSS Hire (HSS) sells power generation biz for £23.25m. Biz made £6m op profit in FY22. [SP=8.8 Cap=62m]
BSF Enterprise (BSFA) working with the UK's leading cultivated meat production company, Ivy Farm Technologies, to help fundraise, launch and scale its cultivated meat plans in China. BSF will invest in Ivy Farm. [SP=7.75 Cap=8m]
TT Electronics (TTG) FY-Dec. EPS -3.9 (-7.5) but adj EPS 19.2p up 5%. Difference mainly asset impairments and "measurement losses". Huh? Outlook - confident of 10% op margin in FY24, from 8.6%. [SP=139.8 Cap=248m]
Brooks Macdonald (BRK) H1-Dec. Guides FY profit in line but now expect net FuM outflows for FY. [SP=1650 Cap=271m]
Robert Walters (RWA) FY-Dec. Outlook - trading still muted. [SP=431 Cap=312m]
In line: NEXS, KIE
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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MrContrarian
- Lemon Quarter
- Posts: 1778
- Joined: November 4th, 2016, 2:45 pm
- Has thanked: 43 times
- Been thanked: 1611 times
Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 08-Mar-24
The long and grinding road
Kinovo (KINO) cost to complete all the DCB discontinued projects up £2.9m from £5.72m previously estimated. Blames a number of unforeseen and legacy issues arising from poor quality workmanship. [SP=46.38 Cap=29m]
Sutton Harbour (SUH) borrows another £450k from BDSL and extends repayment to May 2025. [SP=10 Cap=14m]
Petrofac (PFC) wins three year $200m contract. [SP=23.26 Cap=121m]
SRT Marine Systems (SRT) extends FY end by 3 months to June to ensure its YE financial ratios meet certain minima. The minima are set by a foreign gov't for companies bidding in one particular jurisdiction. 'Prudently' guides FY (15 months) rev same as guided for previous FY-Mar. So a warning then. [SP=31.51 Cap=70m]
In line: SRAD
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
The long and grinding road
Kinovo (KINO) cost to complete all the DCB discontinued projects up £2.9m from £5.72m previously estimated. Blames a number of unforeseen and legacy issues arising from poor quality workmanship. [SP=46.38 Cap=29m]
Sutton Harbour (SUH) borrows another £450k from BDSL and extends repayment to May 2025. [SP=10 Cap=14m]
Petrofac (PFC) wins three year $200m contract. [SP=23.26 Cap=121m]
SRT Marine Systems (SRT) extends FY end by 3 months to June to ensure its YE financial ratios meet certain minima. The minima are set by a foreign gov't for companies bidding in one particular jurisdiction. 'Prudently' guides FY (15 months) rev same as guided for previous FY-Mar. So a warning then. [SP=31.51 Cap=70m]
In line: SRAD
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
-
MrContrarian
- Lemon Quarter
- Posts: 1778
- Joined: November 4th, 2016, 2:45 pm
- Has thanked: 43 times
- Been thanked: 1611 times
Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 11-Mar-24
All dogs were cute puppies once
Bidstack (BIDS) goes bust. [SP=0.22 Cap=3m]
LoopUp (LOOP) proposes to de-list. Cites "ability of the Company to raise necessary funds within public versus private markets given the relatively early stage of development of the Group's fast-growing Multinational Cloud Telephony business". Trading in line. [SP=2.02 Cap=4m]
Versarien (VRS) the slippery mess of a company will sell plant and equipment in South Korea for £604k. Possible license fees for patent use. AAC Cyroma and Total Carbide continue to be marketed for sale. [SP=0.1 Cap=1m]
EQTEC (EQT) subscription form Verde delayed to 29 Mar at the latest. [SP=2.42 Cap=5m]
Currys (CURY) Elliott Advisors will not make an offer "following multiple attempts to engage with Currys' Board, all of which were rejected". [SP=64.5 Cap=731m]
Sanderson Design (SDG) to launch a direct-to-consumer collaboration with Morris & Co. Latter's wallpapers, fabrics and licensed products will be made available from a dedicated online shop serving customers in the UK, USA and other countries. [SP=104.5 Cap=76m]
RC365 (RCGH) use of YouneeqAI's IP and Platform delayed because decided that its resources in the short term would be better deployed to Malaysia and Japan. The outstanding payment (3m shares) will be bussed around Oct 1. [SP=9 Cap=12m]
Aptamer (APTA) after successful progress of work with Unilever the companies are drafting patent applications to protect these developments and downstream commercial applications. [SP=0.71 Cap=3m]
Nanoco (NANO) to return up to £33m of the Samsung litigation proceeds via a £30m tender at 24p and £3m max buyback. [SP=19.19 Cap=62m]
1Spatial (SPA) guides FY-Jan rev £32.1m+. Adj EBITDA £5.5m+ and pretax flat at £1m+ "reflecting increased finance costs due to the high interest rate environment and certain exceptional charges relating to the restructuring". In line? Outlook confident. [SP=60.89 Cap=69m]
Journeo (JNEO) wins orders worth £1.9m to supply and install important safety systems on existing buses for TfL. Installation in 2024 and support over 3-7 yrs. Co expects more orders during the year to upgrade more of the New Routemaster fleet. [SP=249 Cap=41m]
Powerhouse Energy (PHE) renegotiates agreement with Hydrogen Utopia for the development of a non-recyclable Waste Plastic to Hydrogen facility in Ireland. [SP=0.8 Cap=32m]
Gulf Marine Services (GMS) wins the first of a two phase, four-year, contract for one of its vessels operating in the Middle East. [SP=17.55 Cap=177m]
Roquefort Therapeutics (ROQ) positive results for Midkine mRNA and STAT-6 siRNA programs. [SP=7.5 Cap=10m]
AFC Energy (AFC) successful Factory Acceptance Test of its first state-of-the-art 30kW H-Power Generator. [SP=16.39 Cap=123m]
In line: RFX, TST
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
All dogs were cute puppies once
Bidstack (BIDS) goes bust. [SP=0.22 Cap=3m]
LoopUp (LOOP) proposes to de-list. Cites "ability of the Company to raise necessary funds within public versus private markets given the relatively early stage of development of the Group's fast-growing Multinational Cloud Telephony business". Trading in line. [SP=2.02 Cap=4m]
Versarien (VRS) the slippery mess of a company will sell plant and equipment in South Korea for £604k. Possible license fees for patent use. AAC Cyroma and Total Carbide continue to be marketed for sale. [SP=0.1 Cap=1m]
EQTEC (EQT) subscription form Verde delayed to 29 Mar at the latest. [SP=2.42 Cap=5m]
Currys (CURY) Elliott Advisors will not make an offer "following multiple attempts to engage with Currys' Board, all of which were rejected". [SP=64.5 Cap=731m]
Sanderson Design (SDG) to launch a direct-to-consumer collaboration with Morris & Co. Latter's wallpapers, fabrics and licensed products will be made available from a dedicated online shop serving customers in the UK, USA and other countries. [SP=104.5 Cap=76m]
RC365 (RCGH) use of YouneeqAI's IP and Platform delayed because decided that its resources in the short term would be better deployed to Malaysia and Japan. The outstanding payment (3m shares) will be bussed around Oct 1. [SP=9 Cap=12m]
Aptamer (APTA) after successful progress of work with Unilever the companies are drafting patent applications to protect these developments and downstream commercial applications. [SP=0.71 Cap=3m]
Nanoco (NANO) to return up to £33m of the Samsung litigation proceeds via a £30m tender at 24p and £3m max buyback. [SP=19.19 Cap=62m]
1Spatial (SPA) guides FY-Jan rev £32.1m+. Adj EBITDA £5.5m+ and pretax flat at £1m+ "reflecting increased finance costs due to the high interest rate environment and certain exceptional charges relating to the restructuring". In line? Outlook confident. [SP=60.89 Cap=69m]
Journeo (JNEO) wins orders worth £1.9m to supply and install important safety systems on existing buses for TfL. Installation in 2024 and support over 3-7 yrs. Co expects more orders during the year to upgrade more of the New Routemaster fleet. [SP=249 Cap=41m]
Powerhouse Energy (PHE) renegotiates agreement with Hydrogen Utopia for the development of a non-recyclable Waste Plastic to Hydrogen facility in Ireland. [SP=0.8 Cap=32m]
Gulf Marine Services (GMS) wins the first of a two phase, four-year, contract for one of its vessels operating in the Middle East. [SP=17.55 Cap=177m]
Roquefort Therapeutics (ROQ) positive results for Midkine mRNA and STAT-6 siRNA programs. [SP=7.5 Cap=10m]
AFC Energy (AFC) successful Factory Acceptance Test of its first state-of-the-art 30kW H-Power Generator. [SP=16.39 Cap=123m]
In line: RFX, TST
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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MrContrarian
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 12-Mar-24
You've Got to Pick a (Shareholder's) Pocket or Two
Renalytix (RENX) $10m placing at 20p, a 47% discount, to keep the lights on. [SP=40 Cap=53m]
Ebiquity (EBQ) guides FY-Dec rev up 7% and adj EBIT up 31%. 2024 has started satisfactorily - "client spend to remain slightly more subdued until more consumer confidence returns". [SP=36.12 Cap=49m]
Regional REIT (RGL) re speculation - "significant preparatory work has been undertaken to date in respect of both the debt and equity options". A placing would be at a material discount. [SP=20.15 Cap=104m]
PCI-PAL (PCIP) £3.5m placing at 56p, a nil discount, for continued expansion in the US, Europe, the Middle East and Africa + working cap. [SP=56.99 Cap=37m]
Haydale Graphene Industries (HAYD) guides H1-Dec rev up 38% to £2.47m, adj op loss £1.61m (£1.89m). In line? US tooling sales disappoint. "Cost savings plan in progress to further hone operations." Hone' LOL! As if it was a well-oiled profit making machine. [SP=0.44 Cap=8m]
H&T Group (HAT) FY-Dec. Outlook sounds in line. [SP=340 Cap=150m]
Narf Industries (NARF) wins $1.3m contract for US ReSCIND (Reimagining Cyber Psychology Informed Network Defense) Programme. [SP=1.21 Cap=20m]
In line: FNX
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
You've Got to Pick a (Shareholder's) Pocket or Two
Renalytix (RENX) $10m placing at 20p, a 47% discount, to keep the lights on. [SP=40 Cap=53m]
Ebiquity (EBQ) guides FY-Dec rev up 7% and adj EBIT up 31%. 2024 has started satisfactorily - "client spend to remain slightly more subdued until more consumer confidence returns". [SP=36.12 Cap=49m]
Regional REIT (RGL) re speculation - "significant preparatory work has been undertaken to date in respect of both the debt and equity options". A placing would be at a material discount. [SP=20.15 Cap=104m]
PCI-PAL (PCIP) £3.5m placing at 56p, a nil discount, for continued expansion in the US, Europe, the Middle East and Africa + working cap. [SP=56.99 Cap=37m]
Haydale Graphene Industries (HAYD) guides H1-Dec rev up 38% to £2.47m, adj op loss £1.61m (£1.89m). In line? US tooling sales disappoint. "Cost savings plan in progress to further hone operations." Hone' LOL! As if it was a well-oiled profit making machine. [SP=0.44 Cap=8m]
H&T Group (HAT) FY-Dec. Outlook sounds in line. [SP=340 Cap=150m]
Narf Industries (NARF) wins $1.3m contract for US ReSCIND (Reimagining Cyber Psychology Informed Network Defense) Programme. [SP=1.21 Cap=20m]
In line: FNX
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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MrContrarian
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 13-Mar-24
It's a cash and burn
CAP-XX (CPX) co requires additional financing by the end of this month. Trying to arrange a fundraise. No wonder the CFO scarpered yesterday. Did co really not have this dire info yesterday? [SP=0.38 Cap=3m]
Victoria (VCP) guides FY-Mar rev broadly in line with market expectations and down YoY. U/L EBITDA nw only c.£160m. De-leveraging update. £25m buyback because SP "materially below the intrinsic value". Chmn says "There has been a lot of noise around Victoria in the last six months". [SP=244 Cap=282m]
NetScientific (NSCI) portfolio update. Strategic objectives for 2024 and beyond. Will implement a "carried interest scheme to incentivise and compensate key Group employees and fund management teams in line with VC industry standards". [SP=67.78 Cap=16m]
Electric Guitar (ELEG) to move from standard listing to AIM in conjunction with the acquisition of 3radical. [SP=2 Cap=1m]
Woodbois (WBI) to sell Mozambique ops because they "have not and cannot contribute meaningfully to Woodbois' profitability." No sum mentioned. [SP=0.74 Cap=29m]
Symphony Environmental Technologies (SYM) wishes to highlight 2021 report from US Environmental Protection Agency on biodegradable plastics. So 3 yr old news is RNSable now! [SP=2.48 Cap=5m]
IXICO (IXI) warns FY-Sept likely to be only £5.2m - £5.9m due to "longer contracting cycles and postponements of certain new contracts". FY25 will be hit too. However overall opportunities pipeline value up ove 50% since Sept 2023. [SP=8.4 Cap=4m]
OptiBiotix Health (OPTI) India's Morepen to sell SlimBiome containing products in India under the Dr Morepen brand. Could boost rev by £6-7m PA in next 4-5 years. [SP=24.2 Cap=22m]
Quantum Blockchain Technologies (QBT) has developed a new method ('C') that uses AI to boost Bitcoin mining. To develop a custom IC using this and other methods. Also "early-stage exploratory discussions with Bitcoin rig manufacturers and US Bitcoin mining companies". [SP=1.5 Cap=22m]
In line: GYM, MMAG, NXQ
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
It's a cash and burn
CAP-XX (CPX) co requires additional financing by the end of this month. Trying to arrange a fundraise. No wonder the CFO scarpered yesterday. Did co really not have this dire info yesterday? [SP=0.38 Cap=3m]
Victoria (VCP) guides FY-Mar rev broadly in line with market expectations and down YoY. U/L EBITDA nw only c.£160m. De-leveraging update. £25m buyback because SP "materially below the intrinsic value". Chmn says "There has been a lot of noise around Victoria in the last six months". [SP=244 Cap=282m]
NetScientific (NSCI) portfolio update. Strategic objectives for 2024 and beyond. Will implement a "carried interest scheme to incentivise and compensate key Group employees and fund management teams in line with VC industry standards". [SP=67.78 Cap=16m]
Electric Guitar (ELEG) to move from standard listing to AIM in conjunction with the acquisition of 3radical. [SP=2 Cap=1m]
Woodbois (WBI) to sell Mozambique ops because they "have not and cannot contribute meaningfully to Woodbois' profitability." No sum mentioned. [SP=0.74 Cap=29m]
Symphony Environmental Technologies (SYM) wishes to highlight 2021 report from US Environmental Protection Agency on biodegradable plastics. So 3 yr old news is RNSable now! [SP=2.48 Cap=5m]
IXICO (IXI) warns FY-Sept likely to be only £5.2m - £5.9m due to "longer contracting cycles and postponements of certain new contracts". FY25 will be hit too. However overall opportunities pipeline value up ove 50% since Sept 2023. [SP=8.4 Cap=4m]
OptiBiotix Health (OPTI) India's Morepen to sell SlimBiome containing products in India under the Dr Morepen brand. Could boost rev by £6-7m PA in next 4-5 years. [SP=24.2 Cap=22m]
Quantum Blockchain Technologies (QBT) has developed a new method ('C') that uses AI to boost Bitcoin mining. To develop a custom IC using this and other methods. Also "early-stage exploratory discussions with Bitcoin rig manufacturers and US Bitcoin mining companies". [SP=1.5 Cap=22m]
In line: GYM, MMAG, NXQ
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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MrContrarian
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 14-Mar-24
Mind over chatter
Smartspace Software (SMRT) 90p rec offer, 3 months after approach announced. 20% premium. [SP=72.33 Cap=21m]
Versarien (VRS) manufacturing licence agreement and a know-how licence and technical assistance agreement with Brazil's Montana Química. £50k up front. 5% royalty (£25k PA min) if Montana commences manufacturing. [SP=0.14 Cap=1m]
Amati AIM VCT (AMAT) struggling fund to consider investing beyond AIM while continuing to comply with VCT rules. Cites challenges in the AIM market and the resultant performance issues. [SP=86.01 Cap=130m]
Pressure Technologies (PRES) awarded two major contracts, as expected, in the defence and green energy sectors and maintains its outlook for FY24. One of the customers is Cheesecake Energy. [SP=34 Cap=13m]
Beeks Financial Cloud (BKS) significant contract extension with the Johannesburg Stock Exchange. No £££. Supports FY25 exp. [SP=171.5 Cap=113m]
Abingdon Health (ABDX) H1-Dec rev £2.4m. Guides H2 rev significantly higher than H1. Expects "breakeven and cash flow positive position which it forecasts will be achieved in 2024 without the need for additional funding". [SP=6.93 Cap=8m]
In line: ETP, MOON, RST, RM.
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
Mind over chatter
Smartspace Software (SMRT) 90p rec offer, 3 months after approach announced. 20% premium. [SP=72.33 Cap=21m]
Versarien (VRS) manufacturing licence agreement and a know-how licence and technical assistance agreement with Brazil's Montana Química. £50k up front. 5% royalty (£25k PA min) if Montana commences manufacturing. [SP=0.14 Cap=1m]
Amati AIM VCT (AMAT) struggling fund to consider investing beyond AIM while continuing to comply with VCT rules. Cites challenges in the AIM market and the resultant performance issues. [SP=86.01 Cap=130m]
Pressure Technologies (PRES) awarded two major contracts, as expected, in the defence and green energy sectors and maintains its outlook for FY24. One of the customers is Cheesecake Energy. [SP=34 Cap=13m]
Beeks Financial Cloud (BKS) significant contract extension with the Johannesburg Stock Exchange. No £££. Supports FY25 exp. [SP=171.5 Cap=113m]
Abingdon Health (ABDX) H1-Dec rev £2.4m. Guides H2 rev significantly higher than H1. Expects "breakeven and cash flow positive position which it forecasts will be achieved in 2024 without the need for additional funding". [SP=6.93 Cap=8m]
In line: ETP, MOON, RST, RM.
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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MrContrarian
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 15-Mar-24
Blue-sky burnout
Graft Polymer (GPL) a new NED lends £100k at 10% pcm (214% PA). Convertible "at a price and time agreed between the lenders and the Company". Two NEDs resign. Very difficult trading conditions making cash extremely constrained. [SP=0.5 Cap=1m]
TClarke (CTO) FY-Dec rev £491m, missing guidance of £500m+. Outlook bullish. [SP=128.49 Cap=68m]
Bank of Georgia (BGEO) further GEL 100m (c.£30m) buyback. [SP=5180 Cap=2372m]
Digital 9 Infrastructure (DGI9) Verne Global sale completes, avoiiding cash crisis. [SP=23.5 Cap=203m]
Nexxen (NEXN) to seek authorisation from creditors for an additional $50m buyback. [SP=189 Cap=332m]
Biome Technologies (BIOM) £536k order for legacy Stanelco div. Completes this FY and "will contribute towards our Group expectations". [SP=95.5 Cap=4m]
Sareum (SAR) get EU patent that "safeguards SDC‐1801, its medical applications particularly in the treatment of autoimmune diseases, and certain methods of synthesis". [SP=23.9 Cap=17m]
R8 Capital Investments (MODE) acquisition of Redwood Financial Partners delayed to end Aug. [SP=2.2 Cap=2m]
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
Blue-sky burnout
Graft Polymer (GPL) a new NED lends £100k at 10% pcm (214% PA). Convertible "at a price and time agreed between the lenders and the Company". Two NEDs resign. Very difficult trading conditions making cash extremely constrained. [SP=0.5 Cap=1m]
TClarke (CTO) FY-Dec rev £491m, missing guidance of £500m+. Outlook bullish. [SP=128.49 Cap=68m]
Bank of Georgia (BGEO) further GEL 100m (c.£30m) buyback. [SP=5180 Cap=2372m]
Digital 9 Infrastructure (DGI9) Verne Global sale completes, avoiiding cash crisis. [SP=23.5 Cap=203m]
Nexxen (NEXN) to seek authorisation from creditors for an additional $50m buyback. [SP=189 Cap=332m]
Biome Technologies (BIOM) £536k order for legacy Stanelco div. Completes this FY and "will contribute towards our Group expectations". [SP=95.5 Cap=4m]
Sareum (SAR) get EU patent that "safeguards SDC‐1801, its medical applications particularly in the treatment of autoimmune diseases, and certain methods of synthesis". [SP=23.9 Cap=17m]
R8 Capital Investments (MODE) acquisition of Redwood Financial Partners delayed to end Aug. [SP=2.2 Cap=2m]
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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MrContrarian
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 20-Mar-24
Iron filing
Abingdon Health (ABDX) to sell Iron and Vitamin D deficiency self-tests as Boots own brand. [SP=8.85 Cap=11m]
Equals (EQLS) PUSU extended to 17 Apr. Trading in line. [SP=109.5 Cap=205m]
Hornby (HRN) contracts Mike Ashley as consultant, for free. Frasers is a shareholder of Hornby. [SP=34 Cap=58m]
Poolbeg Pharma (POLB) Notice of Allowance from US Patent Office for Immunomodulator II patent application. Expects grant of a patent in due course. [SP=9.95 Cap=50m]
Oxford Biomedica (OXB) wins contract from a US-based biotechnology company for the manufacture of lentiviral vectors. Also two new programmes with existing clinical-stage clients. No £££. "Payments will support the Company in achieving its medium-term financial guidance." [SP=186.6 Cap=187m]
Symphony International (SIHL) Dec NAV $0.7427/sh cf $0.7058 in Sept. Market overview. [SP=0.4 Cap=205m]
PayPoint (PAY) Lloyds Bank Cardnet becomes the main card acquiring partner across PayPoint network. This "will strengthen our market position, accelerate the growth of our merchant network and provide better tools and support for our SME and retailer partners". [SP=488.01 Cap=355m]
The 600 Group (SIXH) [last night] rev for 11 months to Feb down 19%. Guides FY-Mar pretax loss over $5m. Won't prublish H1 before end Mar deadline, so shares will be suspended 2 Apr. [SP=2.76 Cap=3m]
In line: BMS
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
Iron filing
Abingdon Health (ABDX) to sell Iron and Vitamin D deficiency self-tests as Boots own brand. [SP=8.85 Cap=11m]
Equals (EQLS) PUSU extended to 17 Apr. Trading in line. [SP=109.5 Cap=205m]
Hornby (HRN) contracts Mike Ashley as consultant, for free. Frasers is a shareholder of Hornby. [SP=34 Cap=58m]
Poolbeg Pharma (POLB) Notice of Allowance from US Patent Office for Immunomodulator II patent application. Expects grant of a patent in due course. [SP=9.95 Cap=50m]
Oxford Biomedica (OXB) wins contract from a US-based biotechnology company for the manufacture of lentiviral vectors. Also two new programmes with existing clinical-stage clients. No £££. "Payments will support the Company in achieving its medium-term financial guidance." [SP=186.6 Cap=187m]
Symphony International (SIHL) Dec NAV $0.7427/sh cf $0.7058 in Sept. Market overview. [SP=0.4 Cap=205m]
PayPoint (PAY) Lloyds Bank Cardnet becomes the main card acquiring partner across PayPoint network. This "will strengthen our market position, accelerate the growth of our merchant network and provide better tools and support for our SME and retailer partners". [SP=488.01 Cap=355m]
The 600 Group (SIXH) [last night] rev for 11 months to Feb down 19%. Guides FY-Mar pretax loss over $5m. Won't prublish H1 before end Mar deadline, so shares will be suspended 2 Apr. [SP=2.76 Cap=3m]
In line: BMS
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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MrContrarian
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 21-Mar-24
Live Company back from the dead
Live Company (LVCG) cash crisis resolved for now as chmn provides £1.77m total convertible, strike 6p. Pays some creditors in shares (at 3p) and sells majority interest in StartArt. £352k placing at 1p. Existing businesses expected to be funded for this year. [SP=NA Cap=NA]
Aptitude Software (APTD) FY-Dec. Warns: "[Macro] trends will moderate headline revenue this year and profitability is now expected to be in line with 2023 performance, before returning to more normalised growth in 2025 and beyond." WIll return £20m max over 3 years via divs and £6m max buyback. [SP=370.25 Cap=212m]
OPG Power Ventures (OPG) sells solar assets for £291k. Paid £2k. [SP=10.7 Cap=43m]
Aukett Swanke (AUK) buys assets of RTS out of liquidation for £37k plus £50k max contingent. RTS provided master system integration and smart building software to commercial properties in the UK. Also £425k subscription at 1p, 9% discount. 1:1 warrants at 1p. FY-Sep out on 28 Mar. [SP=1.2 Cap=4m]
Intercede (IGP) launches its Multi-Factor Authentication MyID MFA product, version 5 . [SP=95.5 Cap=56m]
ValiRx (VAL) agreement with Imperial College London to evaluate research relating to novel therapeutic candidates for cancer treatment. [SP=3.75 Cap=5m]
Pollen Street (POLN) £30m max buyback. [SP=534 Cap=NA]
Getech (GTC) first 2 months of FY24 rev up c.40%. In line? VP of Guff, Max Cliche says "By leaning on the collective knowledge base of its geological team, Getech is leveraging AI and ML..." [SP=8.25 Cap=6m]
Silver Bullet Data Services (SBDS) contract wins and renewals with Heineken and Greene King worth £1.7m. I'll drink to that. [SP=147.5 Cap=26m]
Feedback (FDBK) gets £50k for a further Community Diagnostic Centre ("CDC") pathway pilot with the Oldham CDC. CEO says ""We are gaining momentum in the CDC space following the funding support released by NHSE." [SP=120 Cap=16m]
Tribal (TRB) FY-Dec rev "head of market expectations as at January". Div level decision deferred "given the uncertainty around the likely outcome of the dispute with NTU". Likely to be declared as interim div. Current trading in line. [SP=41.5 Cap=88m]
National World (NWOR) FY-Dec adj EBITDA £9.5m, 6% above expectations. Outlook: Q1 EBITDA slightly higher than internal expectations but rev slightly lower. [SP=14.25 Cap=38m]
In line: EAH, GAW, AQX, 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.
@MrContrarian
Live Company back from the dead
Live Company (LVCG) cash crisis resolved for now as chmn provides £1.77m total convertible, strike 6p. Pays some creditors in shares (at 3p) and sells majority interest in StartArt. £352k placing at 1p. Existing businesses expected to be funded for this year. [SP=NA Cap=NA]
Aptitude Software (APTD) FY-Dec. Warns: "[Macro] trends will moderate headline revenue this year and profitability is now expected to be in line with 2023 performance, before returning to more normalised growth in 2025 and beyond." WIll return £20m max over 3 years via divs and £6m max buyback. [SP=370.25 Cap=212m]
OPG Power Ventures (OPG) sells solar assets for £291k. Paid £2k. [SP=10.7 Cap=43m]
Aukett Swanke (AUK) buys assets of RTS out of liquidation for £37k plus £50k max contingent. RTS provided master system integration and smart building software to commercial properties in the UK. Also £425k subscription at 1p, 9% discount. 1:1 warrants at 1p. FY-Sep out on 28 Mar. [SP=1.2 Cap=4m]
Intercede (IGP) launches its Multi-Factor Authentication MyID MFA product, version 5 . [SP=95.5 Cap=56m]
ValiRx (VAL) agreement with Imperial College London to evaluate research relating to novel therapeutic candidates for cancer treatment. [SP=3.75 Cap=5m]
Pollen Street (POLN) £30m max buyback. [SP=534 Cap=NA]
Getech (GTC) first 2 months of FY24 rev up c.40%. In line? VP of Guff, Max Cliche says "By leaning on the collective knowledge base of its geological team, Getech is leveraging AI and ML..." [SP=8.25 Cap=6m]
Silver Bullet Data Services (SBDS) contract wins and renewals with Heineken and Greene King worth £1.7m. I'll drink to that. [SP=147.5 Cap=26m]
Feedback (FDBK) gets £50k for a further Community Diagnostic Centre ("CDC") pathway pilot with the Oldham CDC. CEO says ""We are gaining momentum in the CDC space following the funding support released by NHSE." [SP=120 Cap=16m]
Tribal (TRB) FY-Dec rev "head of market expectations as at January". Div level decision deferred "given the uncertainty around the likely outcome of the dispute with NTU". Likely to be declared as interim div. Current trading in line. [SP=41.5 Cap=88m]
National World (NWOR) FY-Dec adj EBITDA £9.5m, 6% above expectations. Outlook: Q1 EBITDA slightly higher than internal expectations but rev slightly lower. [SP=14.25 Cap=38m]
In line: EAH, GAW, AQX, 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.
@MrContrarian
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MrContrarian
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 22-Mar-24
Paltry premium pinches paper products producer
James Fisher (FSJ) sells RMSpumptools [sic] for £83m (EV £90m). Price is 7.4 x EBITDA. [SP=248 Cap=125m]
RiverFort Global Opportunities (RGO) sells debt and equity linked portfolio for £2.2m. RTO of S-Ventures, a health and wellness co. To loan £1m to S-Ventures. Shares suspended. [SP=0.21 Cap=2m]
Accrol (ACRL) rec offer of 38p, a paper-thin 12% premium. [SP=34 Cap=108m]
Trakm8 (TRAK) warns FY-Mar rev only £16.4m and adj pretax loss £1.4m. Blames large contract slipping into FY25 and a weak Feb-Mar, primarily due to ongoing shortages of insurance capacity. FY25 boosted by said expected contract but also hit by the lower levels of insurance connections. [SP=14.9 Cap=7m]
Light Science Technologies (LST) wins £188k one year gov't grant. [SP=2.9 Cap=10m]
Record (REC) guides FY-Mar rev £45m, in line with market expectations. Abandons R-Platform project and will focus resources on building out its internal IT development expertise. £1.9m write-off and £0.5m one-off reorganisation and professional costs. [SP=66 Cap=131m]
Billington (BILN) wins six contracts worth c.£90m, further underpinning market expectations. [SP=400 Cap=51m]
Intercede (IGP) guides FY-Mar ahead of market expectations. Wins order for a new licence test environment "for an existing US Federal Agency". Better than those orders from non-existing entities we've seen from some companies. [SP=99.5 Cap=58m]
Robinson (RBN) FY-Dec rev down 2% and pretax -£0.7m (+£2.3m). Final div kept at 3p. Guides FY23 rev and adj op profit up. [SP=95.25 Cap=16m]
In line: SBTX
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
Paltry premium pinches paper products producer
James Fisher (FSJ) sells RMSpumptools [sic] for £83m (EV £90m). Price is 7.4 x EBITDA. [SP=248 Cap=125m]
RiverFort Global Opportunities (RGO) sells debt and equity linked portfolio for £2.2m. RTO of S-Ventures, a health and wellness co. To loan £1m to S-Ventures. Shares suspended. [SP=0.21 Cap=2m]
Accrol (ACRL) rec offer of 38p, a paper-thin 12% premium. [SP=34 Cap=108m]
Trakm8 (TRAK) warns FY-Mar rev only £16.4m and adj pretax loss £1.4m. Blames large contract slipping into FY25 and a weak Feb-Mar, primarily due to ongoing shortages of insurance capacity. FY25 boosted by said expected contract but also hit by the lower levels of insurance connections. [SP=14.9 Cap=7m]
Light Science Technologies (LST) wins £188k one year gov't grant. [SP=2.9 Cap=10m]
Record (REC) guides FY-Mar rev £45m, in line with market expectations. Abandons R-Platform project and will focus resources on building out its internal IT development expertise. £1.9m write-off and £0.5m one-off reorganisation and professional costs. [SP=66 Cap=131m]
Billington (BILN) wins six contracts worth c.£90m, further underpinning market expectations. [SP=400 Cap=51m]
Intercede (IGP) guides FY-Mar ahead of market expectations. Wins order for a new licence test environment "for an existing US Federal Agency". Better than those orders from non-existing entities we've seen from some companies. [SP=99.5 Cap=58m]
Robinson (RBN) FY-Dec rev down 2% and pretax -£0.7m (+£2.3m). Final div kept at 3p. Guides FY23 rev and adj op profit up. [SP=95.25 Cap=16m]
In line: SBTX
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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MrContrarian
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Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 25-Mar-24
Quids out
Aeorema Communications (AEO) H1-Dec. £2m of expected FY24 rev delayed to FY25. Guides FY24 rev £19m+ and £400k profit missing f/c of £20.2m and £757k. [SP=71.76 Cap=7m]
Tandem Group (TND) FY-Dec £1.2m pretax loss. Passes div. Outlook - sales have commenced in line with mgmt forecasts [SP=214.49 Cap=12m]
Leeds Group (LDSG) sale of Hemmers is expected to complete on 26 March. Gets €2m loan from a company controlled by shareholder Peter Gyllenhammar. [SP=9.01 Cap=2m]
Ondine Biomedical (OBI) first commercial adoption of Steriwave (light-activated antimicrobial) by an NHS Trust. [SP=9.5 Cap=22m]
Feedback (FDBK) partnership with the HEAL Foundation in India, to deliver community based TB screening projects, funded initially by third-party donors. "Feedback is aiming to provide India with a digital first screening model that harnesses the speed and accuracy of X-ray imaging, supported by AI diagnostics." [SP=115.01 Cap=16m]
Directa Plus (DCTA) €1m loan (from a shareholder entity) at 7% to complete the final payment for the acquisition of Setcar. [SP=20 Cap=13m]
TruFin (TRU) subsidiary Satago partners with Bank of Ireland Finance to let SMEs in Ireland to seek Invoice Finance via Sage Accounting and Sage50 accounting software. [SP=65 Cap=69m]
Access Intelligence (ACC) Q1 ARR growth of £1m cf £2.7m in all of FY23. [SP=54 Cap=70m]
Distil (DIS) partnership with Global Brands to supply UK off-trade customers. "Distil will remain the drivers of commercial decisions and marketing activity." [SP=0.52 Cap=5m]
OptiBiotix Health (OPTI) £1.35m placing at 20p, a 16% discount, to invest in driving sales. [SP=23.75 Cap=22m]
Sondrel (SND) has concluded the "negotiations of the exhibits" (huh?) to the material design and supply contract for a next generation, video processing chip worth c.$23m over 10-15 yrs. $9m initial contract. [SP=10.69 Cap=9m]
Abingdon Health (ADDX) reaches design freeze for four sexually transmitted disease self-tests for Devyn. Abingdon will be the exclusive manufacturer and regulatory partner. [SP=NA Cap=NA]
In line: BVXP
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
Quids out
Aeorema Communications (AEO) H1-Dec. £2m of expected FY24 rev delayed to FY25. Guides FY24 rev £19m+ and £400k profit missing f/c of £20.2m and £757k. [SP=71.76 Cap=7m]
Tandem Group (TND) FY-Dec £1.2m pretax loss. Passes div. Outlook - sales have commenced in line with mgmt forecasts [SP=214.49 Cap=12m]
Leeds Group (LDSG) sale of Hemmers is expected to complete on 26 March. Gets €2m loan from a company controlled by shareholder Peter Gyllenhammar. [SP=9.01 Cap=2m]
Ondine Biomedical (OBI) first commercial adoption of Steriwave (light-activated antimicrobial) by an NHS Trust. [SP=9.5 Cap=22m]
Feedback (FDBK) partnership with the HEAL Foundation in India, to deliver community based TB screening projects, funded initially by third-party donors. "Feedback is aiming to provide India with a digital first screening model that harnesses the speed and accuracy of X-ray imaging, supported by AI diagnostics." [SP=115.01 Cap=16m]
Directa Plus (DCTA) €1m loan (from a shareholder entity) at 7% to complete the final payment for the acquisition of Setcar. [SP=20 Cap=13m]
TruFin (TRU) subsidiary Satago partners with Bank of Ireland Finance to let SMEs in Ireland to seek Invoice Finance via Sage Accounting and Sage50 accounting software. [SP=65 Cap=69m]
Access Intelligence (ACC) Q1 ARR growth of £1m cf £2.7m in all of FY23. [SP=54 Cap=70m]
Distil (DIS) partnership with Global Brands to supply UK off-trade customers. "Distil will remain the drivers of commercial decisions and marketing activity." [SP=0.52 Cap=5m]
OptiBiotix Health (OPTI) £1.35m placing at 20p, a 16% discount, to invest in driving sales. [SP=23.75 Cap=22m]
Sondrel (SND) has concluded the "negotiations of the exhibits" (huh?) to the material design and supply contract for a next generation, video processing chip worth c.$23m over 10-15 yrs. $9m initial contract. [SP=10.69 Cap=9m]
Abingdon Health (ADDX) reaches design freeze for four sexually transmitted disease self-tests for Devyn. Abingdon will be the exclusive manufacturer and regulatory partner. [SP=NA Cap=NA]
In line: BVXP
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
-
MrContrarian
- Lemon Quarter
- Posts: 1778
- Joined: November 4th, 2016, 2:45 pm
- Has thanked: 43 times
- Been thanked: 1611 times
Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 26-Mar-24
An accident not waiting to happen
Revolution Bars (RBG) re: press speculation - co "exploring all the strategic options available". Fundraise talks. Trading in line. [SP=2.86 Cap=7m]
TruFin (TRU) contract signed for sale of IP and assets relating to Playstack's augmented reality and gamification AdTech platform. Price $300k + $1.7m in VCIG shares. [SP=70 Cap=74m]
Kromek (KMK) gets $2.1m security screening order. Delivery starts in FY24 and completes H1 FY25. [SP=5.6 Cap=36m]
ZOO Digital (ZOO) will beat FY24 mkt exp with rev $40m+ and a smaller EBITDA loss. Rev F/C $37.6m. Cites "further clarity on timing of projects and is now receiving orders relating to work on feature films and TV shows that have been completed following the industry strikes". [SP=24 Cap=24m]
Cohort (CHRT) wins £135m ten year Royal Navy countermeasures contract. [SP=590 Cap=245m]
Journeo (JNEO) FY-Dec. Also wins £1.1m of orders to supply and install safety systems on London Arriva buses. [SP=282 Cap=46m]
BATM Advanced Communications (BATM) wins $2.3m cyber security orders. Delivery to commence immediately. [SP=NA Cap=NA]
CML Microsystems (CML) guides FY-Mar rev only broadly in line at 'close to' £23m. EBITDA c. £6.4m, marginally below expectations. Blames weak core biz sales, will last into this FY. [SP=370.6 Cap=60m]
Titon (TON) AGM stmt mixed. Weak UK and Europe Q1 rev continued into Q2. Profit hit mitigated by overhead cuts and by pursuing margin enhancing opportunities. Korea loss will be greater than expected for the remainder of FY24. [SP=75 Cap=8m]
Cizzle Biotechnology (CIZ) £0.62m placing at 2p, a 22% discount, "primarily to enter the scale-up and manufacturing phase for the main components of the proposed commercial test for CIZ1B" ie to keep the lights on. [SP=2.55 Cap=9m]
Time Finance (TIME) Q3. Guides FY at least in line with market expectations. [SP=39.57 Cap=37m]
Tharisa (THS) $5m max buyback. [SP=55.5 Cap=4169m]
Michelmersh Brick (MBH) FY-Dec rev up 13% (1.3% organic) and pretax £12.5m up 9%, ahead of mkt exp. Outlook good. [SP=102 Cap=96m]
In line: WYN, KOO, PMP
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
An accident not waiting to happen
Revolution Bars (RBG) re: press speculation - co "exploring all the strategic options available". Fundraise talks. Trading in line. [SP=2.86 Cap=7m]
TruFin (TRU) contract signed for sale of IP and assets relating to Playstack's augmented reality and gamification AdTech platform. Price $300k + $1.7m in VCIG shares. [SP=70 Cap=74m]
Kromek (KMK) gets $2.1m security screening order. Delivery starts in FY24 and completes H1 FY25. [SP=5.6 Cap=36m]
ZOO Digital (ZOO) will beat FY24 mkt exp with rev $40m+ and a smaller EBITDA loss. Rev F/C $37.6m. Cites "further clarity on timing of projects and is now receiving orders relating to work on feature films and TV shows that have been completed following the industry strikes". [SP=24 Cap=24m]
Cohort (CHRT) wins £135m ten year Royal Navy countermeasures contract. [SP=590 Cap=245m]
Journeo (JNEO) FY-Dec. Also wins £1.1m of orders to supply and install safety systems on London Arriva buses. [SP=282 Cap=46m]
BATM Advanced Communications (BATM) wins $2.3m cyber security orders. Delivery to commence immediately. [SP=NA Cap=NA]
CML Microsystems (CML) guides FY-Mar rev only broadly in line at 'close to' £23m. EBITDA c. £6.4m, marginally below expectations. Blames weak core biz sales, will last into this FY. [SP=370.6 Cap=60m]
Titon (TON) AGM stmt mixed. Weak UK and Europe Q1 rev continued into Q2. Profit hit mitigated by overhead cuts and by pursuing margin enhancing opportunities. Korea loss will be greater than expected for the remainder of FY24. [SP=75 Cap=8m]
Cizzle Biotechnology (CIZ) £0.62m placing at 2p, a 22% discount, "primarily to enter the scale-up and manufacturing phase for the main components of the proposed commercial test for CIZ1B" ie to keep the lights on. [SP=2.55 Cap=9m]
Time Finance (TIME) Q3. Guides FY at least in line with market expectations. [SP=39.57 Cap=37m]
Tharisa (THS) $5m max buyback. [SP=55.5 Cap=4169m]
Michelmersh Brick (MBH) FY-Dec rev up 13% (1.3% organic) and pretax £12.5m up 9%, ahead of mkt exp. Outlook good. [SP=102 Cap=96m]
In line: WYN, KOO, PMP
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
-
MrContrarian
- Lemon Quarter
- Posts: 1778
- Joined: November 4th, 2016, 2:45 pm
- Has thanked: 43 times
- Been thanked: 1611 times
Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 27-Mar-24
Making the jaws of opportunity say 'aaah'
C4X Discovery (C4XD) proposed delisting. Blames low SP and expects access to larger quantum of funding as a private company. [SP=13.2 Cap=33m]
Solid State (SOLI) guides FY-Mar rev and adj pretax ahead of consensus (£155.3m & £12.5m) due to earlier recognition of Systems revenue. FY25 exp reduced by this. [SP=1395 Cap=158m]
Sorted (SORT) one year renewal with M&S. [SP=83 Cap=6m]
Tribe Technology (TRYB) completes the first autonomous drill rig. Moves to commission and test. [SP=6 Cap=13m]
Allergy Therapeutics (AGY) gets a further £15m from the existing £40m amended loan facility. Tsunami of warrants at 4p. [SP=2.79 Cap=133m]
Revolution Beauty (REVB) hikes FY-Feb guidance of adj EBITDA to £12.5m+ from £11-12m. Rev in line. Outlook - "well-placed to deliver on its future growth ambitions". [SP=27.9 Cap=89m]
LPA (LPA) AGM stmt: Q1 in line but the announced change in the call off schedules for three key Rail contracts means no profit until FY25 now. [SP=58.77 Cap=8m]
Air Astana (AIRA) agrees compemsation from Pratt & Whitney for latter's neo engine availability issues. [SP=NA Cap=NA]
Ten Lifestyle (TENG) wins multi-year contract with Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye region. Expects a Medium contract in its first year. [SP=68.5 Cap=59m]
Vanquis Banking (VANQ) FY-Dec. Outlook: co expects to return to modest lending growth from Q2. Co unaffected by FCA's review of historical motor finance commission arrangements. Costs of reviewing third-party complaint submissions likely to materially impact profitability in 2024 even though the vast majority are not upheld. Is that already in expectations? [SP=51.4 Cap=132m]
In line: QTX, 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.
@MrContrarian
Making the jaws of opportunity say 'aaah'
C4X Discovery (C4XD) proposed delisting. Blames low SP and expects access to larger quantum of funding as a private company. [SP=13.2 Cap=33m]
Solid State (SOLI) guides FY-Mar rev and adj pretax ahead of consensus (£155.3m & £12.5m) due to earlier recognition of Systems revenue. FY25 exp reduced by this. [SP=1395 Cap=158m]
Sorted (SORT) one year renewal with M&S. [SP=83 Cap=6m]
Tribe Technology (TRYB) completes the first autonomous drill rig. Moves to commission and test. [SP=6 Cap=13m]
Allergy Therapeutics (AGY) gets a further £15m from the existing £40m amended loan facility. Tsunami of warrants at 4p. [SP=2.79 Cap=133m]
Revolution Beauty (REVB) hikes FY-Feb guidance of adj EBITDA to £12.5m+ from £11-12m. Rev in line. Outlook - "well-placed to deliver on its future growth ambitions". [SP=27.9 Cap=89m]
LPA (LPA) AGM stmt: Q1 in line but the announced change in the call off schedules for three key Rail contracts means no profit until FY25 now. [SP=58.77 Cap=8m]
Air Astana (AIRA) agrees compemsation from Pratt & Whitney for latter's neo engine availability issues. [SP=NA Cap=NA]
Ten Lifestyle (TENG) wins multi-year contract with Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye region. Expects a Medium contract in its first year. [SP=68.5 Cap=59m]
Vanquis Banking (VANQ) FY-Dec. Outlook: co expects to return to modest lending growth from Q2. Co unaffected by FCA's review of historical motor finance commission arrangements. Costs of reviewing third-party complaint submissions likely to materially impact profitability in 2024 even though the vast majority are not upheld. Is that already in expectations? [SP=51.4 Cap=132m]
In line: QTX, 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.
@MrContrarian
-
MrContrarian
- Lemon Quarter
- Posts: 1778
- Joined: November 4th, 2016, 2:45 pm
- Has thanked: 43 times
- Been thanked: 1611 times
Re: MrC's Smallcap Sweeps for Mar 2024
Smallcap Sweep. 28-Mar-24
Masters of disasters
Byotrol (BYOT) guides FY-Mar rev inline. EBITDA -£1m (-£0.7m). Proposes to delist blaming cost and lack of liquidity. [SP=0.18 Cap=1m]
Cloudcoco (CLCO) I always see this as CloudCuckoo.. FY-Sep accounts will miss end Mar deadline by a month and shares will be suspended. Trying to refinancing the loan notes - is this the real reason? Trading in line. [SP=0.76 Cap=5m]
Northamber (NAR) H1-Dec rev down 13% due to weak mkt. Pretax -£413k (-£250k). Outlook cautious. [SP=46.5 Cap=13m]
Team (TEAM) £1.1m placing and subscription at 20p, a 5% discount, for acquisitions and deferred consideration pls working cap. [SP=21.5 Cap=6m]
Sareum (SAR) £1.5m placing at 10p, a 31% discount, to complete Phase 1a clinical studies on its SDC-1801 TYK2/JAK1 inhibitor and working cap. [SP=10.06 Cap=7m]
Quiz (QUIZ) Guides FY-Mar in line. Jan-Feb rev down 9%. YTD (to Feb) rev down 12%. CEO & founder steps down to NED. Chmn Peter Cowgill to be more hands on. [SP=5.26 Cap=7m]
Kanabo (KNB) expansion of its online clinic, Treat It, to include specialised mental health treatments. [SP=2 Cap=13m]
Microlise (SAAS) wins AU$20m 5 yr contract from Woolworths Australia. [SP=143.5 Cap=166m]
DG Innovate (DGI) MoU to establish a JV with an Indian electric vehicle maker and automotive technology company to make Pareta® e-drives. [SP=0.18 Cap=18m]
AO World (AO.) guides FY-Mar rev c.£1.04bn and adj pretax at least at the top of the guidance of £28-£33m. Outlook - "confident in our ability to deliver on our ambition for 10-20% revenue growth in the year ahead and medium-term profit guidance of 5% adjusted PBT margin." [SP=100.1 Cap=573m]
Journeo (JNEO) wins £1.5m purchase order from Swansea Council. Rev in in mgmt expectations. [SP=277.75 Cap=46m]
SIMEC Atlantis Energy (SAE) gets first £5m milestone payment from EL (Uskmouth). Remaining £4.8m payable against three further milestones - expected over next 12 months. [SP=1.18 Cap=8m]
Digital9 Infrastructure (DGI9) independent asset valuation (at end Dec) gives preliminary NAV of 84p/sh, down 16% on June. [SP=21.7 Cap=188m]
AdvancedAdvT (ADVT) H1-Dec adj EBITDA -cont £3.7m, ahead of management expectations. Guides FY ahaead of mgmt exp. [SP=129.5 Cap=172m]
In line: IDOX, LTHM
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
Masters of disasters
Byotrol (BYOT) guides FY-Mar rev inline. EBITDA -£1m (-£0.7m). Proposes to delist blaming cost and lack of liquidity. [SP=0.18 Cap=1m]
Cloudcoco (CLCO) I always see this as CloudCuckoo.. FY-Sep accounts will miss end Mar deadline by a month and shares will be suspended. Trying to refinancing the loan notes - is this the real reason? Trading in line. [SP=0.76 Cap=5m]
Northamber (NAR) H1-Dec rev down 13% due to weak mkt. Pretax -£413k (-£250k). Outlook cautious. [SP=46.5 Cap=13m]
Team (TEAM) £1.1m placing and subscription at 20p, a 5% discount, for acquisitions and deferred consideration pls working cap. [SP=21.5 Cap=6m]
Sareum (SAR) £1.5m placing at 10p, a 31% discount, to complete Phase 1a clinical studies on its SDC-1801 TYK2/JAK1 inhibitor and working cap. [SP=10.06 Cap=7m]
Quiz (QUIZ) Guides FY-Mar in line. Jan-Feb rev down 9%. YTD (to Feb) rev down 12%. CEO & founder steps down to NED. Chmn Peter Cowgill to be more hands on. [SP=5.26 Cap=7m]
Kanabo (KNB) expansion of its online clinic, Treat It, to include specialised mental health treatments. [SP=2 Cap=13m]
Microlise (SAAS) wins AU$20m 5 yr contract from Woolworths Australia. [SP=143.5 Cap=166m]
DG Innovate (DGI) MoU to establish a JV with an Indian electric vehicle maker and automotive technology company to make Pareta® e-drives. [SP=0.18 Cap=18m]
AO World (AO.) guides FY-Mar rev c.£1.04bn and adj pretax at least at the top of the guidance of £28-£33m. Outlook - "confident in our ability to deliver on our ambition for 10-20% revenue growth in the year ahead and medium-term profit guidance of 5% adjusted PBT margin." [SP=100.1 Cap=573m]
Journeo (JNEO) wins £1.5m purchase order from Swansea Council. Rev in in mgmt expectations. [SP=277.75 Cap=46m]
SIMEC Atlantis Energy (SAE) gets first £5m milestone payment from EL (Uskmouth). Remaining £4.8m payable against three further milestones - expected over next 12 months. [SP=1.18 Cap=8m]
Digital9 Infrastructure (DGI9) independent asset valuation (at end Dec) gives preliminary NAV of 84p/sh, down 16% on June. [SP=21.7 Cap=188m]
AdvancedAdvT (ADVT) H1-Dec adj EBITDA -cont £3.7m, ahead of management expectations. Guides FY ahaead of mgmt exp. [SP=129.5 Cap=172m]
In line: IDOX, LTHM
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
@MrContrarian
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