Home » Posts tagged 'cmx'
Tag Archives: cmx
Quoted Micro 2 January 2022
AQUIS STOCK EXCHANGE
Invinity Energy Systems (IES) says that 2023 revenues will be better than expected because of the order inflow in recent months and delayed contracts. The 2023 forecast was raised from £20.6m to £23.7 in September. The battery storage technology developer will still make a significant loss even with higher revenues.
Oberon Investments Group (OBE) reported a decline in interim revenues from £3.45m to £2.64m. Corporate broking revenues fell by one-third to £1.03m, although the number of clients increased from 15 to 22. Funds under management rose above £1bn, although investment management revenues also declined. The group moved from profit to a £1.7m loss as additional staff were taken on in corporate broking and investment management. There was net cash of £2.3m at the end of September 2022. The launch of an EIS fund and other new products should boost longer-term revenues.
Supported housing operator Walls & Futures REIT (WAFR) interim loss fell from £201,000 to £37,000, although there was a small increase if exceptional charges are excluded. NAV was 0.5% lower at 97.5p a share at the end of September 2022. There was cash of £829,000. The weaker residential market is helping with the search for suitable sites.
Looking Glass Labs Ltd (NFTX), which operates Web3 platforms for immersive metaverse environments and blockchain, has progressed with the development of its Pocket Dimension metaverse offering. Carl Chow has stepped down from the board and Lucas Russell has replaced him.
Tectonic Gold (TTAU) reported an increased loss of £311,000 in the year to June 2022, while there was a £270,000 cash outflow from operating activities. There was £403,000 in the bank at the end of June 2022, with net cash of £232,000.
Cadence Minerals (KDNC) has completed the pre-feasibility study for the Amapa Iron Ore and an announcement is expected in early 2023. Investee company Evergreen Lithium is awaiting final regulatory approval to join the ASX.
AQRU (AQRU) has invested £2.3m in Streaks Gaming, which is planning to join the standard list on 5 January. Streaks Gaming is creating a global conversational gaming platform.
IamFire (FIRE) has subscribed for a further £500,000 of WeShop convertible loan notes. The conversion price is 200p a share.
Gowin New Energy (GWIN) has borrowed £50,000 from its chief executive.
Geremy Thomas is no longer an executive at Goodbody Health Ltd (GBDY), although he remains as chairman. Anne Tew is stepping down as finance boss, although she will cover the role until a replacement is appointed.
AIM
Nexus Infrastructure (NEXS) is selling its utility connections and charging infrastructure businesses to FitzWalter Capital for £77.7m. That is more than the market capitalisation before the announcement. This is the highest it has been since June. TriConnex and eSmart Networks were the parts of the group with the best growth prospects and Nexus Infrastructure is left with civil engineering business Tamdown, where margins are recovering. In 2021-22, revenues were £98.4m and the operating profit was £2.3m. There will be £10m of disposal proceeds retained for working capital and the £65m left after costs will be distributed to shareholders.
Trading in digital media company Catenae Innovation (CTEA) shares has recommenced after it published its 2020-21 accounts and interims to March 2022. There was a £993,000 cash outflow from operations last year and that was reduced to £283,000 in the latest interims. There was cash of £337,000 and no debt at the end of March 2022. A £250,000 interest-free loan facility has been secured from Sanderson Capital and £125,000 has been drawn down. Shares and warrants will be issued to Sanderson Capital at 0.235p each.
NetScientific (NSCI) investee company PDS Biotech (NASDAQ: PDSB) has revealed median overall survival of 21 months in a phase II study for a PDS0101-based triple combination therapy for advanced HPV+ cancer patients. This is a better outcome than for current treatments. The PDS share price rose on the news and even though it has fallen back it has still risen by around one-third this week. NetScientific’s 4.7% stake is worth around £13.8m.
Catalyst Media Group (CMX) trebled its net assets after unwinding a previous write-down. A 20.5% shareholding in horseracing broadcaster Sports Information Services (SIS) is the only significant asset that Catalyst Media has, and it is valued at £35.4m. That is after a write-back of a previous impairment charge of £23.4m. NAV is £35.5m, or 168.9p a share. Catalyst Media has announced a 3.3p a share dividend.
Cannabis-based medicines developer Celadon Pharmaceuticals (CEL) says its pain clinic subsidiary LVL Health has completed the feasibility study of its non-cancer chronic pain clinical trial. The results are described as positive. The results have been submitted to the research ethics committee, which will make a decision on a larger clinical trial involving up to 5,000 patients. A trial has already been conditionally approved by the MHRA.
Barkby Group (BARK) has increased the debt facility provided by Tarncourt Properties, a company controlled by the family of Barkby chairman Charles Dickson, from £5m to £12m and it expires at the end of June 2024. Net debt was £7.7m on 2 July 2022. There is effectively £7m of cash available at the end of 2022. Net liabilities are £7.7m. Non-core assets are up for sale. The focus will be property and pubs.
Tekcapital (TEK) investee company Innovative Eyewear has signed a global licensing agreement for the outdoor brand Eddie Bauer for smart eyewear.
Allergy Therapeutics (AGY) says that its accounts will not be published by the end of 2022, so trading in the shares will be suspended on 3 January. The audit has been delayed, but there is no indication of any material problem. Management is still assessing funding options. Annual results for Kazera Global (KZG) will not be published until February, so trading in the shares will also be suspended on 3 January.
MAIN MARKET
Gresham Technologies (GHT) software Clareti Connect has won a new $1.3m contract over five years with an existing banking client. The software will replace FIX processing infrastructure and there will be additional recurring usage fees.
Standard list shell Stranger Holdings (STHP) had net debt of £761,000 at the end of September 2022. Due diligence continues on the potential acquisition of mineral rights in Africa.
Andrew Hore
Andrew Hore – Quoted Micro 3 January 2022
AQUIS STOCK EXCHANGE
Valereum Blockchain (VLRM) is planning to acquire trust management and funds administration company Juno Group. The Gibraltar-based company will cost £850,000 in cash and shares.
Chana Greenberg is no longer chief executive of Pharma C Investments (PCIL) and Tony Shilito will be acting chief executive.
Walls and Futures REIT (WAFR) reported a 6% decline in NAV to 96p a share at the end of September 2021. The unsuccessful bid by Virgata Services cost £169,000 and that was most of the decline in net assets.
Spinal stabilisation technology developer Truspine Technologies (TSP) says that the FDA has requested further testing for the Cervi-LOK. The interim loss increased from £448,000 to £483,000. Net cash was £277,000 at the end of September 2021.
British Honey (BHC) decided not to go ahead with the extended collaboration agreement with List Distillery in Florida. The focus is the UK market.
Forbes Ventures (FOR) lost $297,000 in 2020 and $158,000 in the first half of 2021, even though there were initial revenues of $29,000. Management is working on the first transaction for the securitisation platform.
SulNOx Group (SNOX) reported a small increase in interim revenues from £18,000 to £24,000. The interim loss increased from £378,000 to £724,000. There was £1.89m at the end of September 2021.
Cadence Minerals (KDNC) has entered into a binding settlement agreement with the bank creditors of the former owner of the Amapa iron ore project in Brazil. The joint venture in which Cadence has a 20% stake is undertaking pre-feasibility studies.
BWA Group (BWAP) has commenced legal action against St-Georges Eco-Mining Corp relating to the proposed acquisition of Kings of the North Corp. There have been 80.8 million shares issued in settlement of the outstanding convertible loan note liabilities of £404,000.
AIM
Shares in Atome Energy (ATOM) started trading on 30 December following the £6m fundraising at 80p a share. The share price ended the year at 83p. Leeds-based Atome Energy has been spun out of AIM-quoted President Energy (PPC) with its shareholders being distributed one share in Atome Energy for every 169 President Energy shares, while the oil and gas company retains part of its stake. There were some tiny share deals in early trading with smaller investors selling the stakes they received. The strategy is to develop projects that use renewable energy to produce ammonia, which can then in some cases be converted into hydrogen. Ammonia is mainly used in fertiliser, but it can also be used as a fuel. The first projects are in Iceland and Paraguay.
CCTV technology installer UniVision Energy Ltd (UVEL) improved interim revenues from £4.06m to £4.98m, with a bigger increase in HK dollars, even though maintenance income declined. However, pre-tax profit fell from £394,000 to £142,000. That was due to a £634,000 impairment loss.
Vela Technologies (VELA) had net assets of £8.06m at the end of September 2021, including £2.52m in cash. There are plans for a 50-for-one share consolidation. The investing strategy is being revised, but it remains broadly similar.
Catalyst Media (CMX) reported a £1.6m loss in the year to June 2021. The main asset is a 20.54% stake in Sports Information Services, and this is equity accounted. NAV is 52.3p a share. No dividend is declared.
Trading in Savannah Energy (SAVE) shares recommenced following the publication of the document for the acquisition of assets in Chad and Cameroon from Exxon and Petronas. Savannha Energy raised £48.7m at 19.35p a share to help finance the acquisitions.
Inspirit Energy Holdings (INSP) still has no revenues. The waste heat recovery system is still being developed with partners. There was £561,000 in the bank at the end of June 2021.
United Oil and Gas (UOG) announced that it made a commercial discovery with the Al Jahraa-13 development well in the Abu Sennan licence, onshore Egypt. Following testing the well will be brought onstream. United has a 22% working interest in the licence.
MAIN MARKET
Creightons (CRL) did not have a repeat of the £11.5m of one-off hygiene sales in the six months to September 2021, but the decline in revenues was limited to £2.37m leaving interim revenues of £30m. There was an initial contribution of £790,000 from acquisitions. Underlying pre-tax profit fell from £2.9m to £2.49m. Net debt is £7.5m at the end of September 2021. The interim dividend is maintained at 0.15p a share.
Andrew Hore