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Even a few of our detractors have now come around
Previously writing on a “trading update” from XP Factory (XPF), in January with the shares at 30.5p I questioned what about the bottom-line result and balance sheet? Today an AGM Statement from the company – and the shares currently further down to below 18p. So what’s the situation now?...
Previously writing on LiDAR wind sensor technology company Windar Photonics (WPHO), towards the end of last year with the shares up to 18p I noted a second order doesn’t validate the system and that a substantial market to target is very different to substantial cash-generative orders and to continue to avoid. Now an update from the company... and the shares currently slumping to 6p, so what’s going on?...
Previously writing on acoustic and thermal insulation group Autins (AUTG), in March with the shares at 19p I concluded that I looked forward to the detail in June-planned results for its half-year but suggest not much cash for long will be available for growth ‘positioning’ and that I certainly continued to avoid. Today the group has announced those results and the shares are currently further down to 14.5p.
Software for customer marketing company Pelatro (PTRO) has issued an AGM Statement including that “contracts announced in the last month in both the telco and the non-telco space demonstrate our continuing success in building the group's recurring revenue base… we are confident of delivering a performance in line with expectations for 2022”. So what of a share price of 27.75p, down from above 40p last Autumn?...
Previously writing on B90 Holdings (B90), last month I questioned a gross £0.731 million subscription “for marketing activities and working capital”?. Today the online marketing and operating company for the gaming industry has announced its 2021 calendar year results. What do they show?...
Previously writing on ‘digital analytics-as-a-service’ company Actual Experience (ACT), in December with the shares falling to 40p I concluded with it already burning cash at an alarming rate that hopefully my prior warnings were heeded and, natch, that the shares were a sell. Now a “Contract cancellation” announcement at no one is watching o’clock, 6.30PM, on Friday. Uh oh!
Argo Blockchain (ARB) is a company that I wrote about several times a couple of years back, but more recently have left to Tom Winnifrith to write about the numerous red flags that he has spotted there.
Previously writing on recruitment software and services group Dillistone (DSG), a year ago with the shares falling to 22p I concluded management, recovery, Talentis and overall balance sheet uncertainties meant I continued to avoid. What now following an AGM update... and the shares currently up to 22.5p?...
Lebanese and Eastern Mediterranean restaurants group with the Comptoir Libanais and Shawa brands, Comptoir (COM) is “pleased to report on the group's annual results for the 52-week period ended 2nd January 2022… look to 2022 and beyond with great confidence” – and the shares have currently responded more than 40% higher towards 8p.
Red Rock Resources (RRR) has announced results for its half-year ended 31st December 2021, with Chairman Andrew Bell emphasising “there will be a strong focus on cash generation and creating opportunities for value crystallization”. Time for action, not words though Andrew!
Previously writing on cybersecurity and IT automation software company Osirium Technologies (OSI), earlier this month I noted a “delighted” with performance trading update was ramptastic. Now a results announcement… and the shares currently more than 16.5% lower to 12.5p in response…
Previously writing on B2B media group Bonhill (BONH) I noted that it proposed to raise approximately £1.1 million at 5.5p per share via a placing and open offer it stated “for working capital purposes” but I suggested to avert cash crunch ahoy. Now further fundraising detail along with calendar year 2021 results.
Approaching a year ago I wrote on Grafenia (GRA) concluding that with the uncertainties, I could understand the market’s caution of the £6.4 million market capitalisation and avoided. What now of a “Pre-close statement and Trading Update”?…
Cybersecurity and IT automation software company Osirium Technologies (OSI) has announced “a record quarter for bookings in Q1”, including “a return to pre-pandemic contract values”. Though what of a current approaching 70% share price rise in response to more than 10p?…
Just over two weeks ago Gfinity (GFIN) announced a £2.7 million equity raise “for working capital purposes”. I questioned a “world leading esports solutions provider” requiring £2.7 million… and so what about now-announced results for its half-year ended 31st December 2021?…
Previously writing on the company which describes itself as “the global leader in sustainable LED lighting for industrial applications” Dialight (DIA), in November with the shares at 325p I noted net debt and supply chain caution after half-year revenue +9% to £60.2 million and net debt up to £12 million. So what of now the full-year 2021 results?…
Describing itself as “a world leader in narrowband radio frequency smart mesh networks”, CyanConnode (CYAN) has announced new funding which it states “allow us to maintain momentum and win some of the large opportunities being presented to us” – and the shares have currently responded up to 16.5p. This though follows I previously questioning “solid progress” or continuing cash burn? (And what about the borrowings?!) with the shares falling below 21p in January. So what now?…
After a recent equity raise, cybersecurity company Osirium Technologies (OSI) now “is pleased to announce continued new business wins”. So what of a current share price rise to 5.5p?…
Provider of fryer management and other services to commercial kitchens, Filta Group (FLTA) has announced a “trading update” including CEO Jason Sayers “delighted with the group’s performance in 2021 despite the ongoing challenges from Covid-19… significant growth in revenue, whilst managing these challenges”. So what of the shares, having currently responded up to 143.5p?…
With shares in SpaceandPeople (SAL) slumping from a 1st February 15p close to just two days later a 10p close, the company still don’t bother to make an announcement last week. It has now eventually got round to doing so, and the shares are currently at 12.25p. So what to make of it?…
Arts, crafts, stationery, toys and books retailer TheWorks (WRKS) has announced results for its half-year ended 31st October 2021 and an update on subsequent trading which currently has helped the shares up by more than 14% to 64.6p, a £40.4 million market cap. So what’s the story?…
Haemodynamic monitoring technologies group Deltex Medical (DEMG) has made a “Pre-close statement”, noting that despite pandemic disruptions for the whole of the year this time, “revenues for the year ended 31 December 2021 were £2.3 million (2020: £2.4 million)” and belief that the backlog in elective surgery “represents a key opportunity for Deltex Medical as the group’s TrueVue Doppler technology can be used to help minimise patient length of stay (and associated costs) following elective surgery and hence increase capacity for hospitals”. With also a ‘next generation’ TrueVue monitor due for release later this year, why a current share price fall to 1.25p?…
SRT Marine Systems (SRT) has made an announcement titled “£40 million SRT-MDA System Project Award”… and the shares have currently responded more than 10% higher to 47p. So what’s the detail?…
Previously writing on UK neighbourhood retailer with over 1,200 stores McColl’s (MCLS), last month with the shares around 23p I questioned how “well placed” the balance sheet with the ‘Morrisons Daily’ developments delivering the strongest performance across the business. Today a “trading statement”… and the shares currently around 15p.
Lekoil (LEK), describing itself as an “oil and gas exploration and production company with a focus on Nigeria and West Africa”, has announced half-year 2021 results. After from fake sheikhs to now subsidiary CEO farce, yet more farce?…
Braemar Shipping Services (BMS) has made a trading update including that it now expects full-year underlying operating profit to be 15% ahead of its previous guidance. The shares have responded up to above 263p, but is there further to go?…
Previously writing on provider of technology-based training and support to the defence and regulated civilian sectors Pennant International (PEN), I concluded last month as the shares fell to below 30p ‘it argues it “expects to make an EBITA profit for the current six months to the 2021 year-end”, but that’s somewhat bullshit earnings and compares to a still market cap of £10.5 million. With, I suggest, there doubt on even those ‘earnings’ for the full-year considering the noted dynamics, I certainly currently continue to avoid’. The shares last closed at 26p, but are currently back up towards 30p on the back of half-year results…
Real Good Food (RGD) has announced results for its year ended 31st March 2021 and that “revenues and profit are in line with board expectations, and ahead of pre-pandemic levels (FY20), for the first five months of the new financial year, with good retail and international sales”. Why then a more than 13% share price fall, to below 3p?…
I-nexus Global (INX) has announced a proposal to raise up to £0.65 million (before expenses) via convertible loan notes, with this “to allow the emerging sales and pipeline momentum to be reflected within operating results and cashflow and will be applied entirely towards meeting the Company’s ongoing working capital requirements”. Is that so?…
Previously writing on data science-specialising marketing and consulting company Jaywing (JWNG), last month with the shares at 10.5p I suggested previous results didn’t provide confidence of secure foundations being in place and ahead of updated financials news I avoided. What then now of results for its year ended 31st March 2021, with the shares currently at 12.75p?…
Previously writing on industrial and commercial equipment company H C Slingsby (SLNG), in May with the shares at 270p I concluded particularly the concerns on continuing demand and on costs in a “competitive” market (not a good combination!) see me at this juncture only have this on the watchlist – whilst also noting it as a further inflation warning. What of half-year results today?…
A “Resignation of Director” announcement from IT services group IDE (IDE) and the shares currently more than 12% lower to 0.725p. This doesn’t sound good then…
Having commenced 2021 at just over 26p, shares in UK neighbourhood retailer with over 1,200 stores McColl’s (MCLS) previously closed at 35p. However, they’re currently back below 30p following a “Response to media reporting”-titled announcement.
Previously writing on manufacturer and specialist manipulator of pipe and tubing assemblies Tricorn Group (TCN), last week I reiterated my view from the end of last month with the shares slumping from 8.25p that how expensive the funding options I wonder? Natch, still currently bargepole. Today a “Company and Formal Sale Process Update”-titled announcement, and the shares currently further lower to below 4p!…
Previously writing on IT services group IDE (IDE), in January I concluded that a contract win did not justify the share price response to 3p. What about full-year results and the shares currently further down at 0.90p?…
Previously writing on manufacturer and specialist manipulator of pipe and tubing assemblies Tricorn Group (TCN), at the end of last month with the shares slumping from 8.25p I concluded how expensive the funding options I wonder? Natch, still currently bargepole. Today half-year results and more…and the shares further lower…
Energy services provider Lamprell (LAM) saw its share price take a big hit following the release of its annual results for 2020, which included a statement about the need to raise further capital via an equity issue – the exact amount and terms of which is yet to be announced.
Live events and entertainment group Live Company (LVCG) states that is “is pleased to announce its audited results for the year ended 31 December 2020”. The shares have currently responded to 4.75p, down 9.5%!…
Sportsbook, casino and gaming online marketing company B90 Holdings (B90) has announced 2020 calendar year results including “the company now has a much more stable financial platform to grow from”. So why are the shares, at 11p, currently more than 8% lower?…
An AGM statement from recruitment software and services group Dillistone (DSG) includes “we are pleased to see signs of a return towards normality in several of our key markets… cash balances of £0.95m at 31 May”. Is a current fall to a 22p share price, £4.3 million market capitalisation, justified?…
A full-year trading update from Vianet Group (VNET) includes that it is “very pleased to report that, notwithstanding this challenging business backdrop, trading for the period showed a slight improvement on our H1 financial performance” and “remains confident that Vianet will emerge from this global crisis in a strong financial position, enabling the group to take advantage of the exciting growth opportunities that lie ahead”. Why then are the shares down from recently above 100p to currently 98p?…
Previously writing on cyber network security company Corero (CNS) I noted having warned on the balance sheet position, now “New borrowings facility”…, concluding the £68 million market capitalisation looked to demand clear evidence that the business can deliver materially profitable bottom-line performance from here. Today full-year 2020 results…
Previously writing on self-styled “a leading provider of real-time, high-performance, automatic Distributed Denial of Service cyber defense solutions” Corero Network Security (CNS), in January I questioned the overall balance sheet position. Today “New borrowings facility”…
A “Confirmation of successful fundraising of £7.4m”-titled announcement from self-styled “world-leading, technology-enabled localisation and media services” group Zoo Digital (ZOO). Just how successful is the fundraising?…
The 14th December 2020-announced results from ten-pin bowling group Hollywood Bowl (BOWL) emphasised “strong balance sheet… liquidity of £31.8m” and included that “the directors are satisfied that the group has adequate resources to continue in operation for the foreseeable future, a period of at least 12 months from the date of this report”. It now announces “successful completion of the placing… at a price of 230 pence per placing share, raising gross proceeds of approximately £30.0 million”. Hmmm…
Previously writing on digital-focused consulting, software engineering and marketing company Kin and Carta (KCT), in September I was cautious on a just over £111 million market capitalisation. That is now more than £250 million, and follows half-year results to 31st January 2021…
UK provider of IT and communications services to businesses and public sector organisations, CloudCoCo (CLCO) has made a trading update – and the shares are currently approaching 24% higher in response, to 1.425p. So what’s the detail?…
Self-styled “a global leader in real-time, high-performance, automatic DDoS cyber defense solutions” Corero Network Security (CNS) has made a trading update emphasising “Revenue ahead of market expectations driven by record order intake”. As I though previously questioned, is there really “solid foundations” here?…
Hostel market-focused online travel group Hostelworld (HSW) has updated on trading including that travel demand remained muted throughout Q4 2020 with ongoing travel restrictions. Although that was “as anticipated”, the shares, already down from more than 85p recovered to in November, are currently further lower towards 76p…
Audio visual communications provider to organisations, Immedia (IME) has announced that it “is raising funds to provide capital to facilitate the growth of the group through a selective acquisition strategy”. Hmmm – I last year questioned it stating it “has cash reserves, and plans in place to manage these resources”. So what is the financial situation?…
A trading update from Immotion (IMMO) commencing that this “immersive entertainment group, is pleased to update the market on current trading” sees the shares 20% higher, above 4p. So what’s the detail?
Self-styled “creative audio-visual company” MediaZest (MDZ) has made a “Timing of Financial Results” announcement and the shares are currently, at 0.06p, more than 40% higher! What’s the story?…
’Technology group that develops cost-efficient and innovative Light Detection and Ranging optimisation systems for use on electricity generating wind turbines’ Windar Photonics (WPHO) has made an “Issue of Equity & Trading Update”. This includes that second half sales are “expected to represent more than four times the value achieved in the first six months of the year and more than double the comparable period in 2019”… So why have the shares currently responded more than 4% lower, to below 11p?…
Franco Manca and The Real Greek restaurants company Fulham Shore (FUL) has announced results for its half-year ended 27th September 2020 including noting “our post half year trading, despite a second lockdown, and our significant debt headroom continue to demonstrate the group’s ability to emerge from this period as a successful survivor in an albeit reduced UK restaurant sector… over the next few years and once normal trading conditions return, we will target a higher return on capital than we have historically achieved”. So why have the shares currently responded to 9.5p, 5% lower?…
Vending equipment and services company Photo-Me International (PHTM) has issued a trading update which includes that it “was cash flow positive in the period” and “as at 31 October 2020, the group had a net cash balance of £22 million”. However, the shares are currently 3% lower at 57p, so what is the cash flow and balance sheet detail?…
UK provider of IT and communications services to businesses and public sector organisations, CloudCoCo (CLCO) has updated including “trading EBITDA, a key marker for demonstrating the success of the group’s recovery to date, expected to be well ahead in H2” and “cash positive in FY20” – and the shares have currently responded more than 14% higher to 1.20p, but what’s the actual detail?…
M&C Saatchi (SAA) has updated including; “There is no change to the group’s 2019 previously announced profit, and there are no further adjustments to prior period headline profit beyond those reported in the preliminary unaudited financial statements published on 30 September 2020. An additional non-cash, non-headline prior year adjustment of £2.8m relating to 2017 and prior periods is reported” – and the shares, already up from below 30p in April, are currently at 80p, approaching 40% higher. Hmmm…
Previously writing on electronic invoicing and purchase order transactions network company Tungsten Corp (TUNG), in September with the shares falling back below 40p I concluded the valuation with the company having to attempt “transformation” in a very challenged economic environment meant still avoid / sell. The shares are currently falling below 30p on the back of a “Trading Update”…
Late March-announced results from Ironveld (IRON) included “your board remains confident that the company’s asset, containing 27 million tons of HPI, together with significant Vanadium and Titanium content, continues to demonstrate robust economics and has a potential value many times in excess of the company’s market capitalisation and balance sheet carrying value” – the market capitalisation then £2.6 million and stated net assets £21.7 million. Today a fundraising, from a £4.3 million market capitalisation with the shares having last closed at 0.65p. Surely a price competitive against that then? – and, given the stated “potential value”, even that unnecessarily dilutive?…
Previously writing on Franco Manca and The Real Greek restaurants company Fulham Shore (FUL), I concluded including noting a suggested far from ideal balance sheet and increasing trading restrictions once again. Now assistance to investors with a “pleased to provide” trading update?…
Yesterday on castings and engineering company Chamberlin (CMH), here I noted a massive contract loss and financial red flags fluttering. Today an announcement of research “Chamberlin (CMH): Trading update ‒ main businesses performing solidly”. You what? Hardman is ‘avin’ a giraffe is it not?
Previously writing on castings and engineering company Chamberlin (CMH), in February with the shares at 24p I noted financials & Premier Miton concerns. Today a “Trading Update”… and the shares at 9.5p, a further more than 15% lower on the back of it…
Previously writing on “immersive entertainment group” Immotion (IMMO), at the start of September with the shares at 4.65p I concluded with still a winning formula very much to be proven, I currently continue to avoid. Today “Trading Update, Proposed Placing & Subscription”…
An “Appointment of new auditor” announcement has now followed a late last month “trading update and full-year outlook” announcement from business information and specialist consultancy company Centaur Media (CAU)…
Provider of temporary structures for events, Arena Events Group (ARE) has announced results for its half-year ended 30th September 2020, including “despite results in all markets being impacted by the widespread prohibition on mass gatherings due to the COVID-19 pandemic, the group was Adjusted EBITDA positive and cash neutral”. Though what’s the detail?…
Cyber security group ECSC (ECSC) “is pleased to announce an update on trading” – and the shares are currently approaching 4% higher at 70p…
Previously writing on “global professional services consultancy to the construction and engineering industries, providing multi-disciplinary consultancy services including expert witness, claims and dispute resolution services” Driver Group (DRV), in June with the shares at 52.5p I was cautious including as the company noted “expectation that COVID-19 will in the near future impact customer behaviours and therefore activity levels, perhaps materially so”. Today a trading update and the shares currently more than 11% higher in response… though that to 49.5p…
Vehicle tracking systems company Quartix (QTX) has updated including “we are pleased with the progress we have made so far in 2020, despite the impact of COVID-19 on our clients and markets. Our subscription base grew in each of our markets and now stands at more than 167,000 vehicles with recurring revenues of just under £22m” – and the shares have currently responded up to 340p…
In early August D4T4 Solutions (D4T4) updated including that it “continues to trade in line with the board’s expectations, with strong levels of both existing and new client activity”. Today “the AIM-listed data solutions provider, provides… trading update for the six months to 30 September”… and the shares are currently back below 200p, 12% lower on the day…
Manager of promotional and retail merchandising space SpaceandPeople (SAL) has announced results for the first half of 2020 including “we are confident that we will be able to trade through… and emerge in a position to take advantage of the recovery”. The shares have currently responded to 4.1p, more than 11% lower!…
Previously on hostel-focused online booking group Hostelworld (HSW), in August I wrote “pleased to announce” half-year results… it sure? – concluding at a current 62p share price, a still more than £70 million market cap, I currently avoid. The shares last closed at 54.1p, and today a “Trading update”…
Previously writing on UK automotive retailer Marshall Motor Holdings (MMH), in June, with the shares at 115p, I reviewed a “Trading and COVID-19 Update”’s ‘encouragement’, though concluding that I continued to avoid. Now a further update…
The Restaurant Group (TRG) has announced results for its half-year ended 28th June 2020, including emphasising “decisive response to COVID-19 pandemic… implemented significant restructuring actions resulting in a higher quality, diversified estate” and “trading performance post-lockdown (for the 11 weeks from July 4th to 20th September 2020) with c.90% of the retained estate now open has been very encouraging… Wagamama: Like-for-like sales growth of 11%… Leisure: LFL sales growth of 4%… Pubs: LFL sales growth of 14%” – and the shares have currently responded to above 57p, 5% higher…
Online shopping technology group Attraqt (ATQT) “is pleased to announce the acquisition of Aleph Search, an Artificial Intelligence powered search technology. The group also announces a placing to raise gross proceeds of £4 million at 32 pence per share to fund the acquisition, increase investment in sales, marketing and product development activities and to accelerate growth”. So how much is the acquisition and what are the financials?…
A June update from audio visual communication services group Immedia (IME) included that it “has cash reserves, and plans in place to manage these resources, although the directors are considering raising extra funding from a variety of sources”. On the discounted placing that followed, I noted it will be interesting to see what cash reserves there were in following balance sheets. Now half-year results…
Previously writing on electronic invoicing and purchase order transactions network company Tungsten Corp (TUNG), in July with the shares at 42p I questioned “positions the business well for future growth”?. Now a “Directorate Change” announcement has followed recent results for the company’s year ended 30th April 2020…
Self-styled “AIM-quoted company focusing on digitising chemistry” DeepMatter Group (DMTR) “is pleased to announce its unaudited interim results for the six months ended 30 June 2020”… and the shares have currently responded to 1.85p, 14% lower…
Self-styled “global leader in B2B end-to-end digital music solutions”, 7digital Group (7DIG) has announced a “oversubscribed placing and subscription… raised £6.0 million (gross)… to support immediate and medium term commercial growth opportunities, in particular within home fitness, artist monetisation, and social media”…
Self-styled “data and technology-driven marketing group”, Next Fifteen Communications (NFC) has updated including “for the six-month period to 31st July 2020, revenues are expected to be up by approximately 6.5% compared with the same period last year to £126m and adjusted profit before tax up by over 16% to at least £20m… driven by our B2B technology focused agencies” – and the shares have currently responded to 447p, more than 21% higher…
Previously writing on Wildwood and dim t restaurants company Tasty plc (TAST), last month I noted the shares had recently recovered somewhat to 2.85p on a re-openings statement, though at a then 2.75p the financial situation from a market cap of below £4 million saw my stance avoid / sell. Now a “Trading Update”…
Minoan (MIN) “is pleased to announce the successful reorganisation of its only secured borrowings, the cancellation of warrants and rights to future warrants and a small pre funded placing to provide further working capital”...
The Bidstack (BIDS) saga is one which I have watched unfold but have made little comment on myself, other than thinking that the valuation that it reached was bonkers and writing as much in an article on ShareProphets last May.
EQTEC (EQT) Chairman Ian Pearson is “very pleased to introduce EQTEC Group's Final Results for 2019” and the “technology solution company for waste gasification to energy projects” is also “pleased to announce” the appointment of Arden Partners as its joint broker. Hmmm...
Previously writing on “board & leadership search, senior interim management, research & insight, leadership consulting & assessment, and executive-level talent solutions”-offering Norman Broadbent (NBB), I concluded with the shares towards 13p Not an ideal position for just reducing losses and continuing ‘investment in talent’ then! Currently, an avoid / sell. The shares have recently been below 6p, but are currently up on a “Trading Update”...
At the start of this year a small AIM outift called Pembridge Resources (PERE) was getting a lot of attention and there were all sorts of predictions being made as to how high the market cap should be based on its share of a copper mining operation.
I had a twitter spat today regarding the difference between Debt and Liabilities and was called a host of names and told I was stupid etc, etc. ZZZ. Twitter is not the best place to discuss stocks with the faithful who have a rudimentary understanding of balance sheets and throw around Investopedia definitions and accounting terms and consider that an argument. The company in question was Eve Sleep (EVE).
Previously writing on audio-visual systems for organisations-focused MediaZest (MDZ), in December I questioned its actions “based on market conditions” as it stated or based on dire balance sheet conditions?. Now a “Trading and Covid-19 update” – and the shares down again…
I commented on leisure travel and distribution & logistics group Dart (DTG) last week on the back of a trading update, concluding with the shares then approaching 1050p there looks optimism for the longer-term… However, with there looking clear potential for bookings to further deteriorate, it may still be too early for a recovery buy at this juncture. On my watchlist. At 4:56pm yesterday (if not possible earlier, why not at a usual 7am today?), another “Trading Update”…
A “Trading Update” announcement from Aeorema Communications (AEO), an “AIM-quoted live events agency”. Uh oh…
Shares in Braemar Shipping Services (BMS) had fallen from more than 220p in January to last close below 140p. Today a “Pre-Close Trading Update” including “trading results for the second half of the year are anticipated to be approximately in line with market expectations*”… and the shares currently further lower towards 130p…
UK convenience retailer, McColl's Retail Group (MCLS) has updated with a headline “Building foundations for success”. The shares have currently responded to around 37p – circa 14% lower!...
Although my main focus is in the oil and mining sectors, I do also follow quite a few shares which don’t fall into this category, with Hostelworld (HSW) being one of them.
Dillistone (DSG) is “delighted to achieve this major milestone… platform's membership pool - which features executives from more than 100 countries - has enjoyed significant growth in 2019, with 75% more "new signups" than in 2018… also saw a significant increase in connection activity on the platform in 2019, with executive members accepting more than 400,000 connection requests from executive recruiters”… and the shares have responded to currently above 30p, more than 10% higher on the day…
Previously writing on TechFinancials (TECH), in June I noted argues “considerable progress away from the historical business model to new products and technologies”, BUT…, concluding the shares now further lower on the results announcement, towards 5p. I can see why and retain my bearish stance. Now “Proposed AIM cancellation”…
A “Trading Statement” from learning and skills company with courses delivered on sites in London, Manchester, Singapore, Malaysia and online, Malvern International (MLVN) includes “full year revenues are now expected to be modestly ahead year on year… the board expects to report a positive underlying EBITDA for the year… The board with its new members believes that it is pursuing the right strategy in diversifying its product offering and locations”. The shares have currently responded to comfortably below 1p – er, circa 50% lower!...
Modern Water (MWG) “is pleased to announce that it secured the sale of its largest by volume All-Membrane Brine Concentrator technology, to be used in South Korea's first deep seawater salt production project” – and the shares have currently responded more than 7% higher, to 1.5p. However, Nigel Somerville previously warned on this company; bullshit packed RNS, placing at 1.25p to raise just £141,696 - prepare for a GM and more confetti!…
Commenting on an agreement last week which Live Company Group (LVCG) argued “transformational for the group and the BRICKLIVE brand” but I questioning this as it was also stated only “gives the board further confidence in the current market expectations for 2020, which remain unchanged”, I also noted in October it having stated it “continues to be in advanced discussions with the vendors of Bright Bricks Holdings Limited regarding the settlement of the deferred consideration of, in aggregate, £0.833 million, due today, through the issue of new ordinary shares. Further announcements will be made as appropriate”. Now an announcement; “Deferred Consideration and Issue of Fee Shares”…
In August Nigel Somerville wrote on Inspirit Energy (INSP) including noting a required, desperate (and so deeply discounted) placing. Last week it soared following an “Update on product application and the mCHP Boiler”. Today, natch, “Placing”…
Previously writing on automotive retailer Lookers (LOOK), in July I questioned “extremely well positioned to take advantage of the many opportunities”?, concluding I was unconvinced and the outlook saw my stance bargepole / sell. Now “Trading Update & Board Changes”. Uh oh – those together rarely good news…
With its shares already down from 700p+ in 2017 and more than 450p as recently as May to a prior close 187p, a “Trading Update” from self-styled “the world's premier currency and authentication provider” De La Rue (DLAR)…
Previously writing on 21st Century Technology (C21), in May I concluded precious little margin of safety… I remain wary of any share price strength currently here and continue to avoid. This month an announcement of “Notification of Contract Award Recommendation” has now been followed by “Change of Adviser”…
Online fashion retailer ASOS (ASC) has announced results for its year ended 31st August 2019 including “the financial and operating performance of ASOS has been disappointing… With the benefit of hindsight, we were not adequately prepared for the additional complexities of planning and trading across our expanded warehouse footprint. It is also clear that our internal capabilities had not kept pace with this growth and change in complexity, and accordingly we lost focus on several of our core competencies, notably product, presentation and customer engagement”. The shares have responded currently to around 3100p – er, more than 20% higher!...
Previously writing on Live Company Group (LVCG) towards the end of August I concluded including so little certainty and all to prove at this stage – and the market is also not convinced; the shares still currently at 41p… I’ll review - latest-permitted scheduled - 30th September half year results but currently still on the bargepole list. Those results have now also been followed with a “BRICKLIVE Shows and BRICKLIVE Tours Update”…
‘UK agency specialising in data science’, Jaywing (JWNG) “is pleased to announce that it has been notified that entities associated with two of its major shareholders have acquired the company's existing secured loan facility of £5.2m owed to Barclays Bank plc… and provide it with additional working capital” – and the shares have soared to a current 6p…
Audio-visual systems for organisations-focused MediaZest (MDZ) has updated including that “two large projects set for completion in November/December… should generate significant profitability in the quarter ended 31 December 2019” and “new business enquiries in recent weeks have markedly increased and several potentially significant opportunities are being pitched in coming months”. The shares have responded currently more than 14% higher to 0.08p…
Previously writing on Coral Products (CRU), in May I questioned director share purchases... but inspiring confidence?, concluding the announcement still doesn’t really inspire faith in the board’s confidence in its strategy and look forward to a year of continued improvement and, with the shares above 8p, I continue to avoid. Today the shares are currently down from 7p towards 5p on the back of an “AGM Statement”…
Previously writing on provider of online B2B platforms for the UK conveyancing and financial intermediary markets ULS Technology (ULS), in May with the shares at 70p I concluded doubting the investment here can insulate it sufficiently, avoid / sell. Today a “Customer update” announcement – and the shares further lower, below 50p. Uh oh…
Self-styled “premier technology solutions provider to leisure, entertainment and cultural markets” accesso Technology (ACSO) has announced results for the first half of 2019 emphasising “a solid performance” and “important progress on its long-term strategy to integrate its offerings to uniquely position itself to take advantage of a $3.4bn addressable market, driven by a market shift toward the integrated guest experience and leveraging data to improve business outcomes for customers”. The shares have currently responded towards 800p – er, that’s approaching 12% lower!…
“Convertible Loan” news online marketing and operating company for the gaming industry, Veltyco (VLTY) “is pleased to announce” – with the announcement including “the convertible loan is convertible at any time by the noteholder at a price of 8p per new ordinary share… the convertible loan will automatically convert into ordinary shares if the closing mid-market price of an ordinary share is 15p or more for 25 consecutive business days”. Ooooh – 8p and 15p hey!, with the shares then 3.2p – they currently rising above 4.5p. However…
I’ve never been able to see any value in Catenae Innovation (CTEA) and haven’t been surprised to see the share price collapse, but an attempt to give it a pump now seems to be underway – which I’d expect given that a placing can’t be that far away!
Currently Trinidad-operating, oil and gas company Columbus Energy Resources (CERP) has announced results for the first half of 2019 and emphasises it “is on the verge of an exciting phase with a number of activities commencing in 2H 2019 which could potentially be transformational”…
“MediaZest (MDZ), the creative audio-visual company, is pleased to provide shareholders with final results for the year ended 31 March 2019… pleased to announce that the group has reached profitability at both EBITDA and Profit after tax for the first time, with considerable year on year improvement in financial performance, beating market expectations comfortably”. Sounds encouraging…
Kin and Carta (KCT) has updated including “CEO, J Schwan said, "Innovation continues to power ahead and is increasingly recognised for the market leading solutions it brings to its clients. The work to reposition our Strategy and Communications pillars, as well as the increased level of investment in the Connective growth platform will drive sustainable profitable growth in the new fiscal year"”. The shares are currently, er, more than 10% lower below 85p…
Remote wireless technology company Starcom (STAR) has announced results for the first half of 2019 including “initial orders for the new Lokies smart padlock are encouraging and we have high expectations for this new product” and that it “is confident that the full year results will be in line with current market expectations in terms of revenue growth and that the company will achieve a positive EBITDA result for the year”. The shares have responded… further lower, to 1.1p…
Self-styled “leading provider of outsourced digital transformation and mobile payment solutions” Mi-Pay Group (MPAY) has updated including “trading for the first half of 2019 was broadly in line with management's expectations… two major contracts were renewed with clients representing 43% of the 2018 revenue during the period and strong operational metrics were delivered”… The shares are currently approaching 20% lower, below 8p. Hmmm…
Writing last week on Feedback plc (FDBK), I concluded with the combination of the noted financials, Bleepa still in development (i.e. very much yet to be “revolutionising clinical messaging”!) and a market cap of sub £5 million, meaning it at best looking like discounted placing ahoy, currently natch avoid / sell. Now “Proposed placing and subscription to raise £2m”…
A “Statement re Online Commentary” from Feedback plc (FDBK) which “confirms that, in order to develop BleepaTM, the company's clinical messaging product, it is currently working on completing a placing of new shares”…
Previously writing on Autins Group (AUTG), in June I noted deteriorating finances and concluded bargepole / sell. The shares have recently been around the 28p of then, but now placing news…
RockRose Energy (RRE) has been one of the real success stories amongst smaller oil and gas producing companies in recent times and has grown its business at an incredible rate via a number of acquisitions. It has come an awful long way since I first covered it as a buy here back in April 2018 at around the 350p level, and today it relisted following a deal which constituted a reverse takeover of the Marathon UK and Marathon West of Shetland assets for $140 million. Currently it is trading at around the 1,900p level with a market cap of circa £240 million, representing a profit of nearly 450% for anyone who followed my original buy recommendation...
Hardy Oil and Gas (HDY) has been getting a bit of attention recently with news of a deal to sell all of its assets, which was then followed by a higher priced bid from another party.
Previously writing on online marketing company for the gaming industry Veltyco (VLTY), at the end of May I concluded with the shares at 3.75p I bet “the directors continue to explore appropriate sources of capital”! Though with the shares around these levels, it’s still, on a meaningful here scale, good luck with that!. Natch, still currently a sell / bargepole. Now an “Update re trading and financial position” intra-day (12:12pm). Uh oh…
Having failed to get shareholder support to cancel its AIM admission last year, now a “Settlement of claim and Cancellation update” from MBL Group (MUBL)...
Models and collectibles group Hornby (HRN) has announced results for its year ended 31st March 2019, “pleased to report to our shareholders in an exciting but challenging period for our company”…
Online electrical retailer AO World (AO.) has announced results for its year ended 31 March 2019, commencing by emphasising; “Continued revenue growth in both the UK and Europe with total revenue for the period increasing by 13.3% to £902.5m”. The shares have responded, er… further lower towards 100p…
From castings and engineering group Chamberlin (CMH), an intra-day (12:35pm) “Trading Update”. Uh oh…
Writing earlier this month on online gaming and marketing company Veltyco (VLTY), I questioned “able to continue to meet its liabilities as they fall due”. Today a “Share Subscription” announcement…
“Rosslyn Data Technologies plc (AIM: RDT), a leading global big data technology company, is pleased to issue the following trading statement in advance of its results announcement for the year ended 30 April 2019, which is scheduled to be released in September”…
A “Trading Update” from Netcall (NET) – and the shares currently down more than 9%, at 51.5p, on it. This despite “cloud bookings have continued their strong performance with year over year growth of 160% to £6.5m”, including “public sector customers ordering the group's newly launched Low-code cloud offerings”…
Mothercare (MTC) has announced results for its year ended 30th March 2019, emphasising they reflecting “a huge amount this year, refinancing, restructuring and reorganising Mothercare to ensure a sustainable future for the business”. Is there?...
“Multi-media content and digital solutions provider”, Immedia (IME) “is pleased to announce it has secured a major AV contract with a blue-chip integrated energy company with headquarters based in Aberdeen”. Its shares have currently responded to 22.5p – er, down more than 6%! Hmmm…
Business transaction platform company Tungsten (TUNG) is “pleased to announce that Tungsten achieved its first annual EBITDA profit… we are confident that through executing the actions identified in our operating review, including working with an e-procurement partner and expanding our AR e-invoicing services, we will be able to achieve higher revenue growth” – and the shares have responded higher above 38p. However, EBITDA is, of course, bullshit earnings and there’s a track record of disappointment to overcome…
Shares in passenger transport technology company 21st Century (C21) are currently more than 18% higher today, around 3p, on the back of a contract announcement. However, it’s a renewal of an existing framework agreement. Hmmm…
Previously writing on digital marketing services group Be Heard (BHRD), last year with the shares at 1.3p, I concluded that the shares are firmly on the bargepole list. Now an AGM update including “the group has had a good start to the year. For the first quarter, the group has experienced good revenue and Adjusted EBITDA growth, with the overall trading performance being ahead of both budget and last year. Moreover, we are becoming more confident regarding performance for the remainder of the year”. The update has helped the shares bounce to a current 1.05p…
Provider of online B2B platforms for the UK conveyancing and financial intermediary markets, ULS Technology (ULS) has updated including of “a strong gross margin performance… continues to generate strong cash flow… maintain the group's policy of paying a progressive dividend”. So why are the shares currently, on the back of the update, at 70p – 9% lower?...
Self-styled developer of “disruptive water saving technologies”, Xeros (XSG) has announced 2018 results headlined “good progress towards licensing model”. Natch, with “disruptive” being bandied about here, Woodford’s also about (39.71% shareholding). “Good progress” then?...
Promotional and retail licensing space company SpaceandPeople (SAL) has announced 2018 results and that “since the end of 2018 we have been awarded a new, multi-year contract with Hammerson in the UK, and our investment in venue development personnel is delivering a good new venues pipeline in the UK” and “as a result of the improved margins and reduced overheads across the two German divisions we are confident they will deliver a positive contribution to group cash flow in 2019”. The shares have currently responded… er, to 12p – more than 17% lower!...
Provider of wireless solutions for remote tracking, monitoring and protection, Starcom (STAR) is “pleased to see WIMC indicating satisfaction with Tetis and planning for larger potential orders” – and its shares have currently responded slightly higher, to 1.275p…
Often when I look at companies at the lower end of AIM I am left struggling to see why on earth anyone is buying it at the current share price.
A “new market initiative in Indonesia” announcement from Mobile Streams (MOS), including CEO Simon Buckingham arguing, having “considered a number of markets to complement Latin America and India… we strongly believe that Indonesia, a sizable market with a population of over 250 million, provides the best opportunity to achieve positive results in both the short and long term”. Hmmm…
A “Christmas Trading Update” from fashion retailer Quiz plc (QUIZ) states revenue “increased by 8.4% in the six-week period from 25 November 2018 to 5 January 2019 against the comparable period last year”, with “the group's UK standalone stores and concessions revenue increased by 1.6%”. The shares have responded, er… approaching 30% lower, towards 25p!...
Software business Imaginatik (IMTK) announced this morning that it had disposed of all of its assets and has sold its business, and pre-market open I saw a lot of people saying what great news it was.
Digital media and technology provider, Catenae Innovation (CTEA) “is pleased to announce” the raising of £524,945 through the issue of new shares at 0.12p each, with CEO Tony Sanders emphasising “the company is at an interesting stage of its development underlined by the support of the senior management and directors. Furthermore, we are pleased to complete this placing at a premium and welcome the support from the large UK based institutional investor, specialising in Tech companies, who has taken a significant stake in the business”...
Writing on results from MediaZest (MDZ) last month I concluded sell / bargepole, though note the shares currently ahead today on the back of a “Trading update”…
In June, previously writing on self-described “the UK's leading value butcher”, Crawshaw Group (CRAW) it was ‘AGM Trading and Strategic Update’, you were warned… - and I again concluding sell / avoid. Today a trading update including “continued challenging trading”. Uh oh…
AIM-listed Advanced Oncotherapy (AVO) released its FY17 numbers this morning. Looking through the numbers presented it is clear that the company was running on fumes last December. We are told that the company is in a stronger financial position since 31st December 2017 having secured £33.3m of financing post period end, but I wonder how much stronger?
It seems to be the season for big share price rises off of the back of very little in the way of substance across quite a few companies at the lower end of AIM at the moment!
I previously wrote on recruitment group Nakama (NAK) a couple of years ago – the shares then approaching 27% lower, heading towards 2p, on a trading update which featured management-speak shite & is shite!. The shares are today currently heading lower towards 1p on the back of a Corporate update and director resignation…
AIM-listed Milestone Group (MSG) has this morning posted the most awful set of results. Having been on the AIM Casino since 2003, the company clocked up losses of £2.26 million on revenues of a paltry £24,640. Retained losses stood at a jaw-dropping £33 million and the audit report (needless to say, missing from today’s RNS) contains, we are told, a material uncertainty paragraph. I should coco.
Engineering group Pressure Technologies (PRES) “is pleased to announce” the result of a bookbuild. This is of a gross £5 million placing at 122p per share. This comparing to a prior closing 126p share price and more than 140p prior to a most recent trading statement at the end of August…
Hardly a day goes by on AIM without some complete piece of junk being pumped up to some crazy share price level, and it often happens as a result of private investors failing to actually read RNSs properly and understand what they mean. Today has been the turn of failing IT company CSF Group (CSFG).
Attempting to sell its ‘premium SMS’ business and “in discussions with a number of parties”, Zamano (ZMNO) now “believes it is close to executing a transaction with a preferred party”. Sounds positive, so why are the shares lower, further below 4p?...
“Eckoh plc (ECK), the global provider of secure payment products and customer contact solutions, is pleased to announce its final results for the year ended 31 March 2017”. Hmmm, this though follows a profit warning in September…
Fleet and passenger systems company 21st Century Technology (C21) has, tardily, announced results for the 2016 calendar year, though with CEO Russ Singleton emphasising “we made real strides last year with major framework renewals, organisational restructuring and innovative new sales”. Sounds promising. However...
Commenting yesterday on the “Launch of Google Assistant voice control” ramparoonie (Oops) RNS announcement from LightwaveRF (LWRF), I suggested it clearly currently remains cash burn ahoy, with results for the six months ended 31st March 2017 following today…
Writing previously in December on x-ray imaging products for the security and industrial inspection markets-focused Image Scan Holdings (IGE) I concluded, with the shares at 6.5p, that I’d continue to monitor for the company growing more into such a valuation. It has now announced a 5.25p per share placing and subscription “to accelerate the introduction of recently developed products into the widest possible market, further extend the research and development activity and to provided additional working capital to facilitate the management of larger contracts”…
The most shorted company on AIM, Telit Communications (TCM) has announced “it has successfully placed” new shares to raise £39 million “to fund several identified acquisition opportunities, mainly in the IoT Services sector, which the company will look to execute in the near to medium term”. Hmmm…
Lucian Miers previously warned on BNN Technology (BNN) HERE and will update here in due course. But the following just takes a quick look at the numbers and placing the company has announced today...
Having featured in the ‘New Year bury bad news stakes’ and with questions having been raised about CFO Nilesh Jagatia, I note shares in Inspirit Energy (INSP) remain in the doldrums following half-year results announced on 31st March. I also note the announcement was made at 9.49am. An attempt to miss the usual 7am RNS scrutiny?...
I most recently cautioned on water technology company HaloSource (HALO) in February HERE. It has now announced results for the 2016 calendar year…
Fitbug (FITB) has announced 2016 calendar year results – including that it believes it has “an idea whose time has come” – and a proposed change of name, to Kin Group. Hmmm…
A “Final Settlement of VCS Consideration” announcement from Pebble Beach Systems (PEB). I remind that on the conditional sale being announced on 20th October that RNS concluded “if the transaction completes then the group will be left substantially debt-free and to execute its software transition strategy with Pebble Beach Systems”…
The results announcement for its half year ended 31st December 2016 from the former Ten Alps plc, now Zinc Media Group (ZIN), emphasises “decisive action taken” and “for the first time in recent years, the company reported a profit at the adjusted EBITDA level”. So why are the shares more than 9% lower, heading towards 1.20p, on the back of the release?...
Previously writing on engineering company Goodwin (GDWN) in September with the shares at 1980p, I concluded that the energy industry environment saw me cautious and avoiding the shares. They were little changed on the prior 1895p close before an “Interim Management Statement” announcement at 2:15pm. A cause for alarm?...
After results for the first half of 2016 showed an increased £8.8 million of net debt, Pebble Beach Systems (PEB, then Vislink) announced a $16 million sale of its hardware division, Vislink Communication Systems, to NASDAQ-listed xG Technology, Inc – stating the disposal to see it “be left substantially debt-free and to execute its software transition strategy”. There are now further updates on how this is working out – including a 5:25pm “Response to xG Technology Inc Press Release” announcement. Uh oh…
Following the 31st December 2015 sale of its operating business to Capita as “it became clear to the board that the trading activities of the group could only survive as part of a much larger organisation”, Work Group (WORK) has now published results for 2015 and its shares have been re-admitted to AIM as an investing company…
In a market filled with companies that have wasted a small fortune and haven’t got a lot to show for it, Frontera Resources still manages to stand out from the rest as having taken both to a new level!
Having previously been positive on shares in IndigoVision Group (IND), I last concluded, with the shares then at 267.5p, that it was difficult to be particularly confident and that I’d look for safer value elsewhere (see HERE). I now update with the shares currently approaching 6% lower today, at 123.5p, on the back of a trading update for the first half of 2016…
I previously wrote on Superglass Holdings (SPGH) towards the end of last year HERE and now update with the shares currently fast-falling back to the levels of then…
Mr Kung Min Lin served as Chairman of Filthy 40 MoneySwap (SWAP) and PCG Entertainment (PCGE). But before that he served as Exec Director of AIM investing company Sportswinbet (SWB) from the 2005 IPO, which went on to become Power Capital Global (PCGB) with Mr Lin as Chairman. You can follow the progress of the first incarnation HERE. But we’re back from the break and with what's left of the £3 million raised in 2005 it’s now time for the second half: Mr Kung Min Lin’s brother comes to the fore.
In an earlier piece on Greece-originated mobile and telecom software and services business Globo plc (GBO) I concluded that, even if comfortable with the numbers, there looks to remain significant further improvement in net cash generation needed to justify the valuation. What does the balance sheet show?
