Keyword results: working capital

B90
B90

B90 Holdings – 2021 results, was the subscription for marketing activities and working capital?...

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?...

HeiQ – hygiene technologies progress update, how positive is it?...

HeiQ plc (HEIQ) is pleased to provide an update on developments made within its Hygiene technology business, with CEO Carlo Centonze arguing its product range “is the strongest and most sustainable in the specialty hygiene ingredients industry”. So what of a current 96p share price?...

TGP
TGP

Tekmar – “may not have the necessary cash to make all the required investment to deliver fully the turnaround strategy”. Uh oh...

Previously writing on Tekmar Group (TGP), in November with the shares at 53p I concluded to avoid ( ‘contract award’… but how significant and how’s the financial position?). The shares last closed at 39p and are now slumping below 30p, so what’s going on?...

IGR
IGR

IG Design – bank facilities extension, how supportive are its “banking partners”?...

Celebrations, gifting, craft & creative play, stationery and consumables group IG Design (IGR) is “very pleased” to “have agreed… extension to our facilities and to have the ongoing support of our banking partners”. What though of a share price response currently up by more than 20% to above 60p?...

INX
INX

i-nexus Global – interims, is it really ‘a leading provider’ looking to the future with confidence?...

Previously writing on self-described “a leading provider of cloud-based Strategy Execution software solutions designed for the Global 5000” i-nexus Global (INX), in September I concluded it looks to be forget working capital for growth plan, it’s lack-of-sales-revenue cash crunch ahoy… natch still bargepole / sell. What of now half-year results?...

VEL
VEL

Velocity Composites – trading update, how’s the balance sheet now?

Aerospace and high-performance composite material kits company Velocity Composites (VEL) has announced a trading update including that it “is pleased to report that Velocity's sales for H1 FY22 are in line with management expectations at £5.9 million (H1 FY21: £4.4 million)… look forward to the future with confidence in the long-term prospects”. The shares have currently responded up towards 20p, though are still well down on levels of early this year.

B90
B90

B90 Holdings – subscription “for marketing activities and working capital”?...

Online sportsbook, casino and gaming marketing company B90 Holdings (B90) “is pleased to announce that it has raised £731,000 (before expenses)… at a price of 5.75 pence per share”. How ‘pleasing’ is this?...

ITX
ITX

Itaconix – “New Funding to Support EU Volumes”… or is it?...

“New Funding to Support EU Volumes”-titled announcement from Itaconix (ITX), with it “pleased to announce a… subscription with existing institutional shareholder IP Group entities and management”. So what’s the detail and its implications?...

React Group – massively discounted placing… after emphasising a “prestigious new account” just on Monday!

Writing on cleaning, hygiene and decontamination group REACT (REAT) in October with the shares falling below 2p, I concluded cautiously including noting net cash of £0.567 million comparing to £0.771 million at the half-year. It now reports a “proposed placing to raise £5.5 million underpins… strategy and in particular, provides the certainty of funding essential to acquire the opportunity we refer to as Target A”.

Bonhill – trading update, fundraise for working capital or to avert cash crunch ahoy?...

Previously writing on B2B media group Bonhill (BONH), in July with the shares falling below 13p I concluded that, with much near-term recovery needed to meet forecasts, only on my watchlist. Today a “Directorate changes, Fundraising & Trading Update” announcement – and the shares currently further lower to 5.5p.

Gfinity – interims, the equity raise “for working capital purposes”?...

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?…

BKS
BKS

Beeks Financial Cloud – half-year results emphasise “underlying EBITDA”… what about cash flow?

Financial markets cloud computing and connectivity group Beeks Financial Cloud (BKS) has announced results for its half-year ended 31st December 2021 and that “even excluding contribution from Exchange Cloud, the board are confident in achieving results for the year in line with market expectations, having already upgraded FY22 revenue expectations three times in the last six months”. So why are the shares currently slightly lower to 144.5p, a £81.4 million market cap, in response, particularly as they were around 200p a couple of months ago?…

Gfinity – announces its fundraising, “for working capital purposes”. Er...

Self-described “a world leading esports solutions provider”, Gfinity (GFIN) has announced “it has conditionally raised £2.70 million… at a price of 1.25 pence per share. In addition, for every new ordinary share, subscribers in the fundraising will be issued with one warrant to subscribe for one ordinary share at the issue price. The fundraising proceeds will be used for working capital purposes… The issue price represents a discount of 2.3 per cent. to the previous day closing share price of 1.28 pence per share”. Hmmm – a “world leading esports solutions provider” requiring £2.7 million?…

MOS
MOS

Mobile Streams – just two weeks after revenue ‘delight’ pump...

At the start of this month Mobile Streams (MOS) was “delighted to announce its monthly revenue now exceeds $150,000 per month across all channels. This is an increase of 87.5% in monthly revenue since the company’s update on 1 December 2021”. However, revenue is, of course, vanity and today “Placing and Proposed partnership”…

SRT
SRT

SRT Marine Systems – placing “to provide working capital”, why the massive discount then?...

Previously writing on SRT Marine Systems (SRT), in January with the shares up to 47p I noted interims having shown a more than £3 million loss on revenue of £4.7 million, with a swing to a £1.4 million net current liabilities position and also £1.7 million of non-current liabilities and that I retained caution HERE. Now the company’s “pleased to announce… concluded its Bookbuild process, successfully raising gross proceeds of £4.9 million through the placing”. So what about a more than 11% share price fall to 34.25p in response?…

Gfinity – argues is to fundraise to maintain “growth strategy”… well I guess still being able to trade is required to maintain the strategy!

Describing itself as “a world-leading video game media and technology business”, Gfinity (GFIN) has announced an “Update on first half performance” including emphasising “strong progress made during H1 in the areas of greatest strategic value”. So why currently a share price of 1.225p, down 49%?!…

Verici Dx – “fundraise to… continue the accelerated progress”, or to avert cash crunch ahoy?...

Verici Dx (VRCI), a developer of clinical diagnostics for organ transplant, has announced a placing of “at least £10.0 million” at 35p per share, stating it “intends to use the net proceeds of the fundraise to… continue the accelerated progress the company has experienced to date”. So what of currently a 4% share price fall in response?…

Barkby – The (Not Very Good) Pump Before The Dump?

AIM-listed Barkby Group (BARK) has announced the completion of a clinical study by Verso Biosense, a minority shareholding of the company. There were, natch, no numbers from this missive from a lookalike of the Adam Reynolds keyboard, so it is hardly an RNS released to inform shareholders…..but then, it is an RNS Reach.

MySale Group – hopefully our warning was heeded as it’s now having to consider ‘financing options’…

Fashion, beauty and homewares online retailing group MySale (MYSL) commences a trading update with that half-year “Gross Merchandise Value increased 36% to A$86.7m, reflecting progress in scaling the group’s off-price marketplace platform”. So why a current share price of 2.5p, down more than 24%?…

Deltex Medical – I having previously questioned ‘how’s the balance sheet now?’, a discounted fundraising...

Deltex Medical (DEMG) has announced that “the board has concluded that it is now appropriate to raise a total of approximately £1.4 million… at a price of 1.25 pence per Deltex Medical ordinary share… (i) to launch, market and commercialise the next generation TrueVue monitor as well as a new non-invasive Doppler probe; (ii) to provide the financial resources required to support the substantial grant funding already won… and (iii) for the general working capital needs of the business”. Really?…

CMH
CMH
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Chamberlin – placing it states it “is pleased to announce”, is it taking the piss?!

Foundry and engineering company Chamberlin (CMH“is pleased to announce that it has conditionally raised £1.8 million… at a placing price of 5 pence per share with institutional and other investors”… and the shares have currently responded down by more than 27%. So what’s going on?…

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STU
STU

Studio Retail Group – “trading statement”; profit is a matter of opinion, cash is reality...

‘Digital value retailer’ Studio Retail Group (STU) commences a trading statement with “Improved performance on Black Friday and in Christmas period”. The shares are currently at 97p in response to the announcement, 39% lower! So what’s going on?…

Green Energy Player Good May Be Able to Power Up its Lowly Share Price

Hello Share Searchers. This one is for supporters of the green revolution among you. Good Energy (GOOD) is a generator and supplier of 100% renewable power. It has two wind farms, six solar farms and collects electricity from a community of 1,600 independent UK generators. It’s been in business for 20 years, a long time for an alternative energy outfit.

Pelatro – “in line with expectations”… or is it?

Customer engagement software company Pelatro (PTRO) states it “is pleased to provide” a trading update, including “despite the Covid situation, we won three new customers in 2021, taking us to 22 telco customers in various countries around the world… Results for FY21 are subject to audit but are expected to be in line with expectations”. So why currently a share price response to 27p, 7% lower?…

FA
FA

FireAngel Safety Technology – “remains on target to meet market expectations”, But...

Home safety products group FireAngel (FA.) has made an update commencing that “it remains on target to meet market expectations” and including that “recently, the company notes that it has seen a slight improvement in component availability which is encouraging for 1H 2022”. So what of a share price, at 13.5p, which remains depressed even compared to earlier this year?…

GYG
GYG

GYG – trading update, how confident of avoiding a cash crunch?

Previously writing on yacht painting, supply and maintenance company GYG plc (GYG), last year with the shares at 81p I concluded the valuation saw me still only monitoring for trading improvement and still avoiding. What then now following a trading update today – and the shares further lower towards 50p?…

DPP
DPP

DP Poland – placing for “further expansion and market penetration”. Really?...

Operator in Poland of pizza stores and restaurants and of the Domino’s Pizza franchise, DP Poland (DPP) has announced a £3 million placing it emphasises at a premium at 8p per share and with “it requires additional capital investment to implement its growth plan for further expansion and market penetration”. So what of a current 7.75p share price?…

AVO
AVO
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Advanced Oncotherapy – Diabolical Interims as Market is Softened up for Delay to First Operational LIGHT System

Oh dear, oh dear, oh dear. AIM-listed Advanced Oncotherapy has announced its interims to June: the numbers are predictably dreadful but the killer is surely the indication of a delay to the completion of the company’s first proton therapy LIGHT system.

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ITX
ITX

Itaconix – interims, “a leading innovator” or still another Neil Woodford pick dog?...

Itaconix (ITX“is pleased to announce its unaudited interim results for the six months ended 30 June 2021”. The shares have responded currently approaching 7% lower to 8.3p. So “a leading innovator in plant-based specialty polymers” or still another Woodford pick dog?…

INX
INX

i-nexus Global – convertible loan notes to aid “working capital”. Er...

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?…

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Tern – It’s a Wyld, Wyld World

AIM-listed jam-tomorrow investment company Tern plc (TERN) has announced that its one listed investee (on the tin-pot Nasdaq First North market in Stockholm) Wyld Networks AB (WYLD) has raised SEK 12 million (approx. £1 million) in the form of a loan from Formue Nord Fokus A/S. That’s all very well, but…..

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TCN
TCN

Tricorn – ‘clarification of financial position’ hasn’t taken long & isn’t good. Hopefully our warnings were again heeded...

In June last year I commented on manufacturer and specialist manipulator of pipe and tubing assemblies Tricorn (TCNupdates on ‘COVID-19 disruption’… but struggling anyway?, concluding with the shares at 7.5p that its financial and trading conditions saw me retain prior caution. I most recently warned last month, concluding it remains good luck from the noted trading and financial situation! Natch, still bargepole. At 7:45am today the shares were suspended “pending clarification of the company’s financial position”. That hasn’t taken long…

EMR
EMR

Empresaria – half-year trading update, recovery building

Recommending shares in international specialist staffing group Empresaria (EMR) at a 70p offer price last month, we stated there looked reason for confidence that following updates will show further evidence of recovery building and that a full recovery can be delivered – also noting cost action taken last year should come through. Now there has been a half-year trading update and the shares are currently up to 80p.

ITX
ITX

Itaconix – “pleased to report that growth in demand…has continued”. Er...

Previously writing on Woodford dog (oops, sorry) “a leading innovator in sustainable plant-based polymers used as essential ingredients in everyday consumer products”(!) Itaconix (ITX), I noted a “pleased to provide… update on its commercial progress and current trading” last month. Today a further “trading statement” – and the shares currently towards 8p, 25% lower in response!…

IME
IME

Immedia – having been “incredibly excited” to be working towards reverse takeover, that now terminated & worse...

In January this year audio visual communications provider to organisations, Immedia Group (IMEannounced an equity raise for “a targeted buy and build strategy focusing on compatible businesses in the content creation/distribution and data analytics spaces” and in March it was “incredibly excited to be working with Sprift towards an RTO which we believe will be transformational for Immedia’s shareholders”. Today a “Termination of talks” announcement.

MCB
MCB

McBride – 'continues to discuss margin recovery actions with customers'. Good luck with that!...

Cleaning and hygiene products private label and contract manufacturer McBride (MCB) has made a trading update including “stronger demand for cleaners and dishwasher products in the second half” and “banking covenants on debt cover are expected to be approximately 1.4x, well within our covenant limit of 3.0x. The group continues to have material headroom against its revolving credit facility of €175m”. How does a share price of around 90p look – with it down from above 94p in April and above 135p in early 2019?…

TCN
TCN

Tricorn – “customer demand is steadily improving”… so why another share price slump?

Previously writing on manufacturer and specialist manipulator of pipe and tubing assemblies Tricorn Group (TCN), in November I wrote having previously concluded with the shares down to 7.5p to avoid that I retained caution with its outlook remaining uncertain. The shares last closed at 8.25p, but are currently slumping on the back of a results announcement…

NMCN – refinancing discussions to address “working capital”. Really?...

UK engineering and construction company NMCN plc (NMCN“is very pleased to report that it is now in bilateral discussions, which are well advanced, with a party to conclude a refinancing to provide the appropriate capital structure to support the group”. So why have the shares currently responded to 147.5p, more than 10% lower?…

ITX
ITX

Itaconix – just how soon did this Woodford dog need balance sheet improvement?

With its shares having closed on Monday at above 16p, on Tuesday morning self-styled “a leading innovator in sustainable plant-based polymers used as essential ingredients in everyday consumer products”, AIM-listed Itaconix (ITX) was “pleased to provide an update on its commercial progress and current trading”. Today it is “pleased to announce a placement” (natch!)…

Staffline – argues “well positioned to take advantage of the increasing opportunities”. Really?...

A trading update from recruitment and training group Staffline (STAF) emphasises “underlying operating profit increased 133% in Q1 2021 year-on-year… provides increased confidence in the full year”. How justified is a share price rise to around 75p?…

INX
INX

i-nexus Global – latest news reinforces fundraising and management incentive concerns...

“Statement re Share Price Movement” from i-nexus Global (INX) – and the shares currently more than 20% lower, towards 12p. Uh oh…

CNS
CNS

Corero Network Security – full-year results, how “encouraging” are the levels of business activity?...

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…

CNS
CNS

Corero Network Security – I having warned on the balance sheet position, now “New borrowings facility”...

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”…

BKS
BKS

Beeks Financial Cloud – placing “to accelerate the company's growth strategy”. Er...

Previously writing on financial markets cloud computing and connectivity group Beeks Financial Cloud (BKS), last month I noted a net cash outflow meaning a swing to a net debt position. Now a placing at 115p per share raising it £5 million “to accelerate the company’s growth strategy and capitalise on the significant market opportunity and solid sales pipeline”. Hmmm…

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Conroy Gold and Natural Resources – Anglo Asian walks, in comes Demir Export AS but I still say SELL.

AIM-listed Anglo Asian Mining (AAZ) has walked on its proposal with fellow AIM-listed Conroy Gold and Natural Resources (CGNR) to form a joint venture with Conroy’s gold assets in Ireland. Not such a disaster for Anglo Asian, but there is a question over who pushed who and when. Meanwhile, it seems that Anglo has been replaced by Turkish outfit Demir Export AS.

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CyanConnode – research announcement on argued “world leader”. Er...

Self-styled “a world leader in Narrowband Radio Frequency Smart Mesh Networks” CyanConnode (CYAN) has made an RNS Reach announcement that Arden has published a research note on the company. At a guess, a favourable such note then!…

IDP
IDP

InnovaDerma – “Loan Agreement”, currently just kicking liquidity crunch down the road?

A start of this week trading statement from UK developer of beauty, personal care and life sciences products InnovaDerma (IDP) noted some “encouraging growth” and that it “will be exploring options to strengthen the balance sheet to ensure it is in a strong position to benefit from the substantial growth opportunities anticipated once restrictions begin to ease”. Today a “Loan Agreement”…

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CyanConnode – trading update, the net cash position maintained… or is it?...

Self-styled “a world leader in Narrowband Radio Frequency Smart Mesh Networks” CyanConnode (CYAN) states it is “pleased” to provide a trading update for the nine month period ended 31st December 2020 – and the shares are currently 5% higher in response to 7.75p. So what’s the detail?…

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FLX
FLX

Falanx – argues platform development ‘delight’… but a 50% share price rise?

“Triarii to include Microsoft Azure Sentinel”-titled announcement from ‘cyber security and strategic intelligence services group’ Falanx (FLX) and the shares currently 50% higher in response, to 1.425p. Does that seem justified?…

IME
IME

Immedia – ‘raising funds for an acquisition strategy’. Just for that?...

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?…

SNX
SNX

Synectics – “pioneering” project goes live… but what does it mean for the outlook?

Security and surveillance systems company Synectics (SNX) has announced that it has successfully deployed the first phase of its “pioneering” operational management system for Deutsche Bahn’s S-Bahn operation in Berlin – and the shares have currently responded to 112.5p, approaching 10% higher. What’s the detail?…

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Ironveld – research report & 'no one watching o’clock' day results...

Ironveld (IRON) has followed a, 29th December 2020, ‘no one watching o’clock’ day results announcement with announcing the initiation of equity research on the company by Align Research – the research headed “Financing deal to unlock tremendous value at a world-class high purity iron, vanadium and titanium project in the Bushveld”. Sounds interesting – with at a current 0.675p share price, the Ironveld market cap £8.8 million…

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CyanConnode – shares up 15% on “Director dealing” announcement, a very significant share purchase then?

“Director dealing”-titled announcement from wireless communication technology company CyanConnode (CYAN) today – and the shares currently at 9p, more than 15% higher. A very significant share purchase from a director then?…

CyanConnode – “Director Dealing & Issue of Equity”, shares furthering recent gains justified?...

“Director Dealing & Issue of Equity” announcement from CyanConnode (CYAN), and the shares currently furthering recent gains – to 6.6p. So what’s the detail?…

RTN
RTN
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The Restaurant Group – argues “well positioned to benefit from a sustained removal of restrictions”. Really?...

“Further Covid-19 update” from WagamamaFrankie & Benny’s and Brunning & Price owner The Restaurant Group (RTN) commencing, “Through a range of decisive management actions, cash-burn during the November national lockdown was minimised to c. £5.5m for the month”. Is a current 7% lower share price response, to below 63p, justified?…

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RBG
RBG
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Revolution Bars – results & joins the heroic Tim Martin re. “nothing short of scandalous” government actions...

Revolution Bars Group (RBG) has announced full-year results and, in line with the heroic Tim Martin of J D Wetherspoon, hit out at “nothing short of scandalous” government actions…

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MOS
MOS

Mobile Streams – announcements to really be “delighted” & “pleased” with?

Two “pleased” to announce and one “delighted to announce” update(s) from Mobile Streams (MOS) today… and the shares currently at 0.24p, 11% lower! So, what’s going on?…

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CyanConnode – argues “very encouraged by the success”… but what about the balance sheet?

Self-styled “a world leader in narrowband radio frequency mesh networks” CyanConnode (CYAN) has announced results for its half-year ended 30th September 2020 and that “the board is very encouraged by the success of all CyanConnode’s deployments, and is especially pleased to see the progress being made against contracts in India and Thailand during the period” – and the shares have currently responded higher, to 5.05p. However, with the shares above 6p, I previously questioned that the company argues loan “for working capital to fund growth”, what about for keeping the lights on? What do the results now show?…

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CloudCoCo – “confident of further strategic progress”. And financial progress?!

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?…

CyanConnode – argues loan “for working capital to fund growth”, what about for keeping the lights on?...

Self-styled “a world leader in Narrowband Radio Frequency Smart Mesh Networks” CyanConnode (CYAN) has updated including that it “is pleased to announce that it has agreed a £400,000 unsecured loan from certain directors for working capital to fund growth… revenue exceeded the same period last year by approximately 50%” – and the shares have currently responded to above 6p, 10% higher…

INX
INX

i-nexus Global – argues moves for “working capital” & to ‘align’ management interests. Er!...

Previously writing on self-styled “a leading provider of cloud-based Strategy Execution software solutions designed for the Global 5000”, i-nexus Global (INX), last month I noted it stating it “now operating at monthly P&L break-even”, but questioned sustainable? and noted the overall balance sheet. Now “Proposed issue of £1.325 million of Fixed Rate Unsecured Convertible Redeemable Loan Notes”…

ESC
ESC

Escape Hunt – “pleased to announce its interim results”. Hmmm...

Self-styled “a global leader in the growing escape rooms sector”, Escape Hunt (ESC“is pleased to announce its interim results for the six months ended 30 June 2020”. The shares are currently at 8.5p, down from above 50p as recently as July last year…

SNX
SNX

Synectics – after recent somewhat share price recovery, “Trading Update”...

Previously writing on self-styled “a leader in the design, integration and support of advanced security and surveillance systems” Synectics (SNX), in June I concluded that I remain cautious on the overall recovery here and thus still only presently on the watchlist. Today a “Trading Update” and the shares currently 13.5% lower on the back of it, at 112.5p…

NAK
NAK

Nakama Group – trading update, I having previously questioned relying on government initiatives...

Previously writing on “recruitment consultancy working across the UK and Asia providing recruitment and related services for the web, interactive, digital media, IT and business change sectors” Nakama Group (NAK), I concluded questioning should government initiatives thus really be able to support this business?! With the noted trading and financial positions, I hope the prior caution here was heeded – and natch still bargepole. Now “Update on trading and current financial position”…

KRM
KRM

KRM22 – interims & new debt facility, to support continued growth?

Previously writing on company with a particular focus on risk management technology for capital markets KRM22 (KRM), I concluded that with ‘the noted cash/debt position, still cash burning despite significant cost measures in place currently and contract signing delays even last year, still currently avoid / sell’. Now half-year results and “New Debt Facility”…

TXH
TXH

Tex Holdings – delisting application due to cost & funding obstacles? Hopefully warnings here heeded...

First writing on Tex Holdings (TXH), on 16th April last year I noted “Update on Trading” three and a half months after year-end… and at 4:55pm!, concluding sell / avoid. I most recently updated reviewing proposed related-party bailout… but will it be allowed to return to the Main Market (even Standard segment)?!. Now “Delisting Announcement”…

SCE
SCE
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Surface Transforms – argues “truly game changing” contract award. Is it?, & how’s the current financial position?

“Contract Award from OEM 8 and Trading Update” from Surface Transforms (SCE) – and the shares currently 47p, more than 90% higher!…

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MDZ
MDZ

MediaZest – shares rising after “Project Completion” delight… but what about financials?...

Shares in self-styled “creative audio-visual company” MediaZest (MDZ) are rising again today – currently to 0.07p, with that comparing to 0.045p only a week ago. There has since been a “Project Completion” announcement…

HSW
HSW
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Hostelworld – “pleased to announce” half-year results... it sure?...

Online travel group Hostelworld (HSW) states it “is pleased to announce its interim results for the period ended 30 June 2020”. Hmmm – how ‘pleasing’ can they be?…

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SJH
SJH

St James House – shares bounce on intra-day “Trading Statement”… but where are the numbers?

Another intra-day update from St James House (SJH) sees the shares leaping higher, but this just as farcical as previously?…

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Superdry – shares up on Q1 “better than our initial expectations”… but what does that mean financially?...

Fashion company Superdry (SDRY“is pleased to announce that it has entered into a new financing facility… strong cash position” and “current trading in Q1 has been better than our initial expectations” – with the shares currently above 147p in response, more than 25% higher…

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YU
YU

Yu Group trading statement: never mind the cash……feel the placing coming this way and SELL.

AIM-listed alternative energy supplier Yu Group (YU.) yesterday offered up a half-year trading statement ahead of interims on Wednesday 30 September (deadline day to avoid suspension – a bit of a Red Flag). Having always advertised plenty of cash but turning out to be running short in the net current assets department, is it any different this time? I fear not…..

ZIN
ZIN
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Zinc Media – update sends shares soaring… but how long is sufficient working capital “currently”?...

An update from TV and content creation group Zinc Media (ZIN) commences that it “is pleased to announce continued good progress on its transformation plan and better than previously forecast revenues since lockdown” – and the shares have currently responded towards 90p, more than doubling…

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RPS
RPS

RPS Group – argues “Diversified and resilient global offering will enable a return to sustainable growth in FY-2021”… Will it & what about H2-2020?...

Previously writing on property, energy, transport, water, defence and government services & resources professional services group RPS (RPS), it was in late March with the shares falling towards 40p. Given the stock market recovery since, how’s the shares – and trading, following a second quarter update today?...

Tungsten – trading update, “positions the business well for future growth”?...

Self-styled “a leading provider of digital financial management products and software solutions” Tungsten (TUNG) has updated including emphasising, on an adjusted basis, “revenue grew 3% to £36.3 million… Positive full year cash generation of £0.4 million” – and the shares have currently responded to 42p, more than 6% higher...

EYE
EYE

Eagle Eye Solutions – how “strong” really is the trading performance?

“Trading Update” for its year ended 30th June from self-styled “leading SaaS technology company that creates digital connections enabling personalised, real-time marketing”, Eagle Eye Solutions (EYE) emphasising “Strong trading performance, successful international expansion and continued innovation combined with business resilience” – and the shares currently at 190p, 12% higher...

RMS
RMS

Remote Monitored Systems – after Friday ‘Chairman leaves, fundamentals shining through?’...

Writing on Remote Monitored Systems (RMS) on Friday as its Chairman left “effective immediately, to pursue other opportunities”I suggested forget previous cash raised to support growth of the group's core areas of business, it needed to keep the lights on and more is to be required. With that from a market cap of £1.5 million, natch bargepole / sell. That was with the shares down from a prior closing 0.28p to 0.23p...

SJH
SJH

St James House – shares fly on “Trading Statement & Funding Update”. Justifiable? Er...

“Trading Statement & Funding Update” from St James House (SJH) including “injection of cash, when combined with the capitalisation of liabilities, the stability of the lottery business and the steady growth of the payments business means the outlook for the business is positive despite the challenges all businesses have and continue to face” – and the shares have currently responded to 67.5p, 350% higher!...

CloudCoCo – shares soar on interims, “seeing benefits from the hard work done”?

“CloudCoCo (AIM: CLCO), a UK provider of IT and communications solutions to businesses and public sector organisations, announces its unaudited interim results for the six months ended 31 March 2020” – and the shares have currently responded to 1.40p, 87% higher...

Bonhill – having argued optimism then followed a profit warning with another, AGM trading update...

Self-styled “a leading B2B media business”, Bonhill Group (BONH) has updated including “the business has continued to see good levels of activity in each of its major markets… has also been focusing in Q2 on improving its working capital position… at 25 June 2020, the company had a cash balance of approximately £3.8 million”. The shares have currently responded higher to 7.5p, but even so a still below £7.5 million market cap?...

MMH
MMH

Marshall Motor Holdings – “Trading and COVID-19 Update”, any encouragement?...

An “operational and financial update” from Marshall Motor Holdings (MMH), the UK automotive retailer, as “all 117 car showrooms re-opened from today as well as all of the group's other operating units, under revised, COVID-19 secure, operating procedures”...

ITX
ITX

Itaconix – Woodford dog emphasises “Strong Revenue Momentum and Extended Funding”… but what’s the detail?...

The previous update from Itaconix (ITX) was “Company Update on Funding and Business Plan”on which the shares further slumped and I summarised Woodford dog in need of funding (natch) says “there can be no assurance” & considers AIM de-listing. Today from the company a different approach, with an announcement; “Strong Revenue Momentum and Extended Funding”...

SIS
SIS

Science in Sport – shares bouncing on placing, but...

‘Performance nutrition company’ Science in Sport (SIS) “is pleased to announce the completion of the placing… raising gross proceeds of approximately £4.5 million… at a price of 37 pence per share” – and the shares have currently responded up to around 40p...

DIA
DIA

Dialight – “order intake during Q1 was in line with our expectations until”...

Shares in self-styled “the global leader in sustainable LED lighting for industrial applications” Dialight (DIA), already down from around 250p when I previously wrote on in November, are currently a further circa 10% lower below 200p on the back of a trading update...

MNO
MNO

Maestrano – trading update, “delighted with the trajectory of the business”?

“Trading Update” for the quarter ended 31st March from Maestrano Group (MNO), with “Key Financial Highlights”… “Total revenue up 20% in reported currency and 28% at constant currency… Total expenses decreased by 49% (47% in constant currency)… Cash balance at 31/03/20 was £1,890,240” – and the shares have currently responded to 2.35p, approaching 35% higher…

RBG
RBG

Revolution Bars – “another step closer to being well-positioned to emerge from this crisis”?

“COVID-19 and Banking Facilities update” from Revolution Bars (RBG), including “the board is pleased to announce that, subject to final documentation, Natwest has agreed to increase the facility to £30.0m” – and the shares currently at 19.5p, more than 26% higher…

IME
IME

Immedia Group – why not tell us how that “healthy balance sheet and working capital” is now?

A 11:58am “COVID-19 and Business Update” from self-styled “supplier of multi-media content and digital solutions for leading brands and global businesses” Immedia (IME) – and, as tends to be the result of intra-day updates, the shares materially lower; currently heading towards 10p, down more than 25%...

Quiz plc – having closed stores and concessions… now closes other operations...

Writing on “omni-channel fashion brand, specialising in occasion wear and dressy casual wear”, Quiz plc (QUIZ) earlier in the week I noted the decision to close its physical stores and concessions. At 4:23pm yesterday, a further announcement; “Temporary closure of QUIZ's online operations”

CPC
CPC
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The City Pub Group – placing & open offer, a ‘well done’ or not?

The City Pub Group (CPC) “is pleased to announce that… it has successfully placed 30,000,000 new ordinary shares at a price of 50 pence per share, raising gross proceeds of £15 million”. Last week though it stated “the company's balance sheet is strong… is confident the company has sufficient working capital to maintain its operations for at least another six months without further capital, even in the event the Government extends its current guidance and mandates a temporary closure of all pubs and bars”. Hmmm…

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MCB
MCB

McBride – “order levels across most regions increase for a range of products”… but...

Previously writing on McBride (MCB), in January with the shares at 67p I concluded the noted performance and current trading and strategic uncertainty sees me retain the stance of bargepole / sell. The shares closed yesterday at 59p – and now from this company which describes itself as “the leading European manufacturer and supplier of Contract Manufactured and Private Label products for the domestic Household and professional cleaning and hygiene markets”, a “COVID-19 Update”

RPS
RPS

RPS Group – “COVID-19 Update”, shares slump yet further…

“COVID-19 Update” from property, energy, transport, water, defence and government services & resources professional services group RPS (RPS) – and the shares, already down from having reached 180p last month, currently a further approaching 14% down on the day towards 40p…

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Superdry – e-commerce channel “remains fully open for business” & cost savings BUT…

“Statement re Current trading and COVID-19 update” from fashion retailer Superdry (SDRY) sees the shares currently more than 30% further lower on the back of it, below 70p…

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CPC
CPC
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The City Pub Group – ‘COVID-19 update’ including “the company's balance sheet is strong”. Is it?...

I previously wrote on The City Pub Group (CPC) in January with the shares at 197.5p, noting from the company “the Rugby World Cup did not have the impact that we expected. Political uncertainty culminating in the December Election… unhelpful weather during November and December… disruptions on South West trains… Following some delay… we also completed the refurbishments of the two former Jam Tree sites” and concluding I’d wait to see trading further playing out before being comfortable – the market cap still not far off £120 million. Tom also warned in Bearcast just yesterday – and today a “COVID-19 update”, and the shares down to 55.5p…

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TWD
TWD

Trackwise Designs – acquisition & “provision of growth working capital”… or keep-the-lights on funds?...

Trackwise Designs (TWD) “is pleased to announce that it has conditionally acquired Stevenage Circuits Ltd for a total consideration of up to £2.457m… is also pleased to announce that it has conditionally raised approximately £5.87m”. Hmmm…

Moss Bros – thankful for the cash offer?

“The boards of Brigadier Acquisition Company Limited and Moss Bros (MOSB) are pleased to announce that they have reached agreement on the terms of a recommended cash offer” – and shares in Moss Bros are currently circa 50% higher at 20.5p…

SJH
SJH
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St James House – is the cheque really in the post for this dreggie AIM POS?

In the current climate, I would be very guarded over handing over a cheque to subscribe for shares in any company, let alone AIM-listed St James House (SJH) – the former Lord Razzall disaster that was Boxhill Technilogies (BOX).

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Microsaic Systems – 2019 results & prospective fundraise “in light of… progress to date, and the planned expansion of the product portfolio”. Really?!...

“Microsaic Systems plc (AIM: MSYS), the developer of point of need mass spectrometry instruments, is pleased to announce its audited financial results for the year ended 31 December 2019”. The shares have currently responded to 0.80p – 20% lower!…

ALY
ALY

Laura Ashley – able to access requisite funds? Only “should be able to” & “to meet its immediate funding requirements”!…

Laura Ashley (ALY) “is pleased to announce that discussions between Wells Fargo and MUI Asia Limited relating to the group's immediate funding requirements have concluded and the group should be able to utilise requisite funds from its working capital facility with Wells Fargo to meet its immediate funding requirements” – and the shares have currently responded to 1.90p, around 15% higher. However…

ALY
ALY

Laura Ashley – update reinforces there much to correct. Too much?

Previously writing on homeware and fashion retailer Laura Ashley (ALY), on its latest results in August I concluded there looks much to correct – and then there is of course the current general retail climate. As such, I’m not surprised to see the shares respond currently further lower. Still presently on the bargepole list. The shares had jumped over Christmas and the New Year but are currently back below 2p on a “Response to press speculation”

PCI-PAL – argues “pleased with the strong performance against key metrics”. Er, what about currently THE key metric here; cash?

Payments technology company PCI-PAL (PCIP) has updated including that it “is pleased with the strong performance against key metrics in the first half of the year (to 31st December 2019), in particular the growth in revenue… is confident that we will continue the momentum built in the first half against key metrics and that the company's strategy and market positioning means it is well placed to continue the progress made in the last 12 months”. The shares have currently responded higher to 43.5p – though still comparing to more than 78p reached in early 2018…

TRX
TRX

Tissue Regenix – a “pleased to confirm” re. cyber security incident, but still what about the balance sheet of this Woodford pick?

Shares in ‘regenerative medical devices’ group Tissue Regenix (TRX) are currently approaching 20% higher on the day, at around 1.20p, on the back of an update including “it is anticipated that delayed orders will be dispatched over the coming weeks… All processing in the company's United States facility has also resumed with immediate effect”

TRX
TRX

Tissue Regenix – from bad to worse for Woodford investors here…

An announcement from Tissue Regenix (TRX), a Woodford pick (uh oh), at an intra-day 10:02am (uh oh); “Notice of cyber security incident”. Oh dear! – and particularly considering the company’s previous announcement included that it only “believes that the available cash runway will continue to support the working capital requirement of the company until the end of April 2020”!...

TRX
TRX

Tissue Regenix – “Trading Update” from this former Woodford pick, so natch…

“Trading Update” from Woodford stock Tissue Regenix (TRX) – and the shares currently around 1.40p, down (natch!) approaching 20%...

LightwaveRF – I having reminded just yesterday results to likely show quite desperate financial times…

Having updated on latest quarter trading yesterday and stated that it “expects shortly to release its audited final results for the year ended 30 September 2019”, now “LightwaveRF plc (LWRF), the leading smart home solutions provider, is pleased to announce its audited final results for the year ended 30 September 2019”. Didn’t it know yesterday the “shortly” was going to be today?!...

GMS
GMS

Gulf Marine Services – argues “important contract awards”; why do the shares remain subdued?

Gulf Marine Services (GMS) has announced “important contract awards… secured day-rates for these contracts are firm and are consistent with existing contracts in the region” (Middle East). The shares have nudged higher towards 7.5p, but are down from more than 9p as recently as November and more than 20p early last year…

Jaywing – interims, funding challenge really ‘successfully tackled’?

Previously writing on Jaywing (JWNG), in October with the shares at 6p I concluded there still looks a real chance of significant dilution here. I’ll continue to monitor, but re. the shares currently certainly continue to avoid. Today results for its half year ended 30th September 2019 – and the shares currently approaching 25% lower on the day… to 3.5p…

FAR
FAR
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Ferro-Alloy Resources – you were warned; from arguing “strong pricing backdrop” on March listing to now…

Ferro-Alloy Resources (FAR), a “vanadium mining and mineral processing company with operations based in Southern Kazakhstan”, in March was “pleased to announce that its entire issued ordinary share capital will commence trading on the standard listing segment of the Official List of the Financial Conduct Authority and on the Main Market of the London Stock Exchange… As part of the Admission process, the company has successfully raised £5.2 million (before expenses) from institutional shareholders… at a placing price of 70p each”. Today “Operational, Trading and Financing Update”. Hmmm…

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PXS
PXS

Provexis – keep the lights on placing… how much longer to prove “a clearly differentiated position”?

“Provexis (PXS), the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, is pleased to announce it has raised a gross £301,333 via a placing”. Hmmm – sounds like ‘keep the lights on’ money…

Trakm8 – argues “pleased to report” interims, Er…

Executive Chairman of telematics and data insight company Trakm8 (TRAK), John Watkins is “pleased to report Trakm8's results for the six months ended 30 September 2019”, including emphasising “the board is encouraged that the decline in revenue has been arrested and the first two months of H2 are significantly ahead of last year” and “the long awaited deployment, in volume, with our insurance and automotive customers has now commenced. The Fleet teams are delivering new contract wins significantly ahead of the previous year and the pipeline for new opportunities is strong”. The shares are though little changed at around 22.5p…

HSP
HSP

Hargreaves Services – updates underlying profit ahead… but being just eked out?

Shares in Hargreaves Services (HSP) have retained recent strength on the back of a “Pre-Close Trading Update” including “group underlying operating profit for the first half is expected to be slightly ahead of that reported for the six months ended 30 November 2018”

CNS
CNS

Corero – forget further SmartWall development and sales & marketing, it’s a bailout fundraising…

“Corero Network Security plc (AIM: CNS), the network security company, is pleased to announce a conditional placing and subscription to raise up to £3.25 million”. Hmmm…

Inspirit – loan conversion from the boiler room but when’s the (yet another pump-and-dump) placing?

This morning AIM-listed Inspirit (INSP) offered up a cheerful RNS stating that £804,000 worth of convertible loan notes were being converted at 0.07p (the minimum price possible) and that thus the Company has substantially reduced its debt close to zero and we hope that this reduction in debt will provide the right base from which the business can now grow. The implication is that all is well…..until you look at its last stated results, the interims to way back last December. "Growth" my foot!...

MPM
MPM

mporium Group – sorry saga reaching denouement? FinnC(r)ap resigns… eventually!

Having previously warned on mporium Group (MPM), I note an intra-day (3:03pm) RNS (hmmm!)… “Resignation of NOMAD”. Uh oh…

LightwaveRF – “Strategic Review including formal sale process”… but doesn’t it have “sufficient working capital”?!

“Placing and Subscription” announcement from LightwaveRF (LWRF) in August included “the board believes the additional funds will accelerate the company into becoming a significant, profitable Smart Home device and technology player… following completion of the fundraising, the company confirms that it will have sufficient working capital for its present operational requirements”. Today “Strategic Review including formal sale process”!...

Inspirit Energy – last week the pump… and now (natch, & as previously warned by Nigel Somerville)…

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”

Veltyco – creditors “materially in excess of the group's current cash resources”… and that’s not all…

Previously writing on Veltyco (VLTY), in September I noted the shares rising above 4.5p though it’s ‘keep the lights on’ funding – and possibly still not for very long and it still, even from an increased to £3.75 million market cap, remains good luck! – I certainly continue to avoid. Today a “Trading Update” commencing; “Trading within the group's Bet90 sportsbook and casino business, in which Veltyco has a 51% interest, continues to be in line with management expectations, with Bet90 achieving its highest revenues since launch”. The shares have currently responded, er… to around 1.875p, approaching a further 50% lower on the day!...

TRX
TRX

Tissue Regenix – “very pleased” lender has “shown their support for the company”. Really?!...

Earlier this week I noted on Tissue Regenix (TRX) a further nightmare for shareholders including (natch) Neil Woodford investors – that with the company set to fail a financial covenant test and thus having to discuss with a weak hand - with also its latest results having shown it heavily loss-making with net cash down to £4.3 million - with loan facility provider MidCap Financial Trust. Now though Executive Chairman John Samuel reckons he’s “very pleased that Midcap have shown their support for the company by entering this revised agreement” – and the shares have responded further higher above 1p…

IME
IME

Immedia – “establishes itself in the USA”. Hmmm… & about that “healthy balance sheet and working capital”, Bruno…

An “AVC Immedia establishes itself in the USA” announcement from Immedia Group (IME) – the AVC division of the group becoming an established player in the massive US market? Er…

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OptiBiotix Health – further SkinBioTherapeutics shares sale reviewed

It has been announced OptiBiotix Health (OPTI) has sold 2.2 million further shares in 2017 spun-off onto AIM SkinBioTherapeutics (SBTX). This despite OptiBiotix’s results earlier this year including “SkinBiotherapeutics plc is making solid progress… As its partnership discussions turn into commercial agreements providing industry validation of its technology we anticipate SkinBiotherapeutics plc will grow in value, whereupon OptiBiotix shareholders will benefit from the appreciation of this asset”. So why the further sale?...

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KRM
KRM

KRM22 – “placing… to provide the company with additional working capital”... Or not?...

“KRM22 plc (AIM: KRM.L), the technology and software investment company, is pleased to announce that it has conditionally raised gross proceeds of approximately £1.0 million through a placing of 1,895,765 new ordinary shares… at a price of 52 pence per ordinary share”. Hmmm – having only joined AIM at 100p per share little more than 18 months ago and the shares last closing at 54.5p, it really “pleased to announce” this?!...

SNT
SNT

Sabien Technology – but I thought “addressable market remains attractive, supported by our pipeline”?...

Early last month I noted on ‘M1G’ and ‘M2G’ boiler energy efficiency technologies company Sabien (SNT) the subscription is for £326,427 of shares at 0.11p each, with it added “on 11 June 2019, the board announced that it expected to report revenues for the year-ended 30 June 2019 of approximately £1.2 million (2018: £0.51 million) and a small profit before taxation (2018: loss of £1.65 million). The board confirms that it has traded in-line with expectations… net cash (excluding the proceeds of the subscription) amounted to approximately £0.67m as at 2 September 2019”. There has since followed the results and now, after the shares have recently shot higher, a “Corporate Update”

PCI-PAL – results statement suggests the company’s future is not greatly foreseeable…

“PCI-PAL PLC (AIM: PCIP), the customer engagement specialist that secures and protects payment card data for companies handling payments by phone, is pleased to announce full year results for the year ended 30 June 2019” – and the announcement includes “the new financial year has started well… PCI Pal is well positioned to build on this year's success”. The shares have currently nudged ahead to 27.5p – but remain down from 36p reached in the summer and more than 78p in early 2018…

R4E
R4E

Reach4Entertainment – interims & looking forward with confidence...buy!

Live entertainment-focused Reach4Entertainment (R4E) has announced results for the first half of 2019 and that “we look forward to the rest of the year with confidence”

Jaywing – shares soar on positive financing news… but still significant dilution ahoy?

‘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…

CNS
CNS

Corero Network Security – interims argue “well-placed for growth”. Er… what about the required, material fund raise?!

Corero Network Security (CNS) has announced results for the first half of 2019, including emphasising “the board continues to believe the business is well-placed for growth”. Having commenced the year heading towards 13p, the shares are currently a further more than 5% lower today heading towards 2.5p. Hmmm…

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KEFI Minerals – interims & looking ahead to “a very exciting period”…

KEFI Minerals (KEFI) has announced results for the first half of 2019 and that “the remainder of 2019 is expected to be a very exciting period for the company and we look forward to providing regular updates as matters progress”

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Veltyco – a new loan “convertible… at a price of 8p per new ordinary share”. BUT...

“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…

GMS
GMS

Gulf Marine Services – interims “will be delayed”. Uh oh…

Previously writing on Gulf Marine Services (GMS), last month I concluded including I wish that candidate luck! There should be more detail on what they face here with 11th September-scheduled half-year results. And now… “Re-scheduling Interim Results Release Date”. Uh oh – and re-scheduled to when?...

ProPhotonix – RNS Reach does prove a portend; now “reviewing all funding and strategic options available”

Earlier this week I cautioned on ProPhotonix (PPIX), new laser diode ‘delight’, but it’s an RNS Reach having questioned its financial strength. Now first half of 2019 results – and the shares currently at 2.25p, approaching 30% lower…

ClearStar – an achievement it’s proud of, but financial impact? And it’s an RNS Reach…

“ClearStar (AIM: CLSU), a provider of Human Capital Integrity technology-based services specialising in background and medical screening, is pleased to announce that it has achieved ISO/IEC 27001:2013 accreditation”, with the company emphasising “we are proud to have… efforts recognised through this accreditation”. Though I note it’s an RNS Reach announcement…

MySale – “a leading international online retailer… pleased to announce…”. Er…

“MySale (MYSL), a leading international online retailer, is pleased to announce an open offer to raise up to approximately £2.1 million (before expenses) by the issue of 102,887,768 open offer shares in the company at an issue price of 2 pence per open offer share”. It has also just conditionally raised £11.2 million in a placing at the same price – with these after it having IPO’d on AIM just over 5 years ago… at 226p per share!…

Live Company – after Friday attempted no one watching o’clock announcement, “Operational Update”...

An “Operational Update” from Live Company (LVCG) commencing; “The group is pleased to announce it has now contracted 60 BRICKLIVE shows and events across the world for 2019, achieving a key milestone for the company. This was the original target set by the company for the year ending the 31 December 2019. The group will continue to work with new and existing partners to deliver further shows and events in the remaining four months of 2019.” Sounds good – but then on Friday it was intra-day (2pm) RNS. Attempted no one watching o’clock?

LightwaveRF – discounted fundraising (as warned)… & still how long will it be “sufficient working capital for its present operational requirements”?

Previously writing on self-styled “leading smart homes solutions provider” LightwaveRF (LWRF), in June I noted still there looks clear cash risk and I continue to avoid. Now “Placing and Subscription”

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KEFI Minerals – restructures loan facility to provide greater flexibility as Tulu Kapi progresses

KEFI Minerals (KEFI) “is pleased to announce a restructuring of its working capital convertible loan facility… in order to provide greater flexibility to the company by removing the existing security charges over assets and extending the loan maturity dates”

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TRT
TRT

Transense Technologies – Bridgestone collaboration agreement ‘delight’. Hmmm…

Shares in sensor systems company Transense Technologies (TRT) are currently more than 15% higher, above 70p, on the back of a “Joint Collaboration Agreement with Bridgestone” announcement…

PHO
PHO

Peel Hotels – after accounts delayed, worse…

Shares in Peel Hotels (PHO) were suspended towards the end of last month as the company was still in the process of finalising its audit and would miss the AIM Rules deadline. It has now published – and the shares are currently around 40p, down approaching 40%...

WSG
WSG

Westminster Group – following ramptastic announcements earlier this month… surprise, surprise (you were warned)…

Previously writing on Westminster Group (WSG), I concluded last week where’s the cash for that coming from? The shares are currently down to below 13p, but, natch, still avoid / sell. Now the company “is pleased to announce a placing… to raise £1million before expenses together with the issue of warrants”. Surprise, surprise…

CyanConnode – “confidence that we will meet full year market expectations”. Really?...

Already down from a start of 2019 more than 9p, shares in CyanConnode (CYAN) are currently further lower below 6p despite a trading update seeing Executive Chairman John Cronin commencing “we have made solid progress during H1 2019, securing a number of follow on orders in India and Europe, which is testament to the strength of our Omnimesh technology” and concluding “the growth in India and the demand from the rest of the world gives the board confidence that we will meet full year market expectations. We look forward to reporting on such new orders in H2 2019 and delivering significant revenue growth for FY 2019”. Hmmm…

MOS
MOS

Mobile Streams – trading update, forget the potential business development opportunities!...

Mobile Streams (MOS) has updated including in Argentina “the board are now looking to renew commercial activities with previous customers” and “in Mexico, actions have been taken in order to re-launch the commercial operation with Telcel, the largest carrier in Mexico”. However…

MWG
MWG

Modern Water – another intra-day update, Nigel’s Easter red flags fluttering even more strongly?

“Further to the board's announcement of 7 June 2019, Modern Water (MWG), the owner of world-leading technologies for water and wastewater treatment and for water quality monitoring, announces a further update in relation to its funding discussions and working capital position”. Hmmm – “world-leading technologies” hey, but that previous update including “cash flows have been slower than anticipated from the Membranes Division and, consequently, additional working capital will be required in the short-term” and now another intra-day (this one 3:31pm) update?!...

Catenae Innovation – interims, now “seeing growth in terms of potential pipeline and converted sales”

Provider of digital media and technology, Catenae Innovation (CTEA) has announced results for its half year ended 31st March 2019 and that “the company is now in a position where it is taking advantage of the existing product suite and is seeing growth in terms of potential pipeline and converted sales. The company continues to look at opportunities that enable it to expand its reach into new sectors and to significantly increase its growth”

Live Company – “pleased to provide a Trading Update… regarding current trading, financial performance and outlook”… Really?

Toy bricks-based shows group Live Company (LVCG) “is pleased to provide a trading update for the six-month period up to 30 June 2019, ahead of the Annual General Meeting… The following comments will be made regarding current trading, financial performance and outlook for the financial year at the opening of the meeting”“Pleased to provide” such information hey – sounds promising…

Bagir – after investment agreement extended to end May “to provide ample time for all parties”…

Shares in self-styled “designer, creator and provider of innovative tailoring”, Bagir Group (BAGR) slumped towards 1p at the end of 2018 as the company updated including “it is taking more time than first envisaged for Shandong Ruyi to receive Chinese Government approval for its proposed $16.5 million investment into the company… 30 May 2019… new completion date has been set to provide ample time for all parties” and “Udi Cohen, Chief Financial Officer, has decided to leave the company from March 10, 2019, to pursue his other business interests”. They recovered particularly during last month but are currently slumping again on an “Update on Strategic Partnership and Trading”

WSG
WSG

Westminster Group – “significant developments that demonstrate the benefits of this strategy”. Really?

Managed services and technology-based security solutions group Westminster (WSG) has updated including “trading for 2019 has started on a strong note with both order intake and revenues ahead of budget… over the next few months and years we have an opportunity to achieve unprecedented growth from the prospects we are pursuing” – and the shares have currently responded to 8.5p, more than 40% higher…

Premier Technical Services – emphasises “continued sales growth” & “confidence”, BUT…

Premier Technical Services Group (PTSG) has updated including “pleased to report that the group has seen continued sales growth and strong levels of orders in the year to date” and “the recent acquisitions of Guardian and Trinity are performing ahead of management expectations. This underscores our confidence in achieving a successful full year result in 2019”. The shares though, although well up from recent lows, are still down from more than 150p as recently as early this year to still sub 100p…

MWG
MWG

Modern Water – following Nigel’s Easter Red Flags at Night warning, an intra-day “Trading Update”…

Its previous coverage on this website was Nigel Somerville’s Easter Red Flags at Night: Modern Water FY results a washout – SELL!, now an intra-day (10:55am) “Trading Update” from Modern Water (MWG). I’ve got a feeling this ain’t going to be a positive update!...

AO
AO

AO World – “more excited than ever about the future”. Hmmm…

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…

PEL
PEL

Paragon Entertainment – intra-day winding up petition developments

An intra-day (11:09am) “Response re: Winding up petition” announcement from Paragon Entertainment (PEL). Uh oh…

MTC
MTC

Mothercare – “refinancing, restructuring and reorganising… to ensure a sustainable future”. Is there?

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?...

Tungsten – “achieved its first annual EBITDA profit”… but what about cash & the rest of the balance sheet?

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…

Be Heard Group – argues “a good start to the year”… but what about cash flow & the balance sheet?

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…

AST
AST

Ascent Resources – and there’s the placing as it exploits permit ‘delight’

Ascent Resources (AST) “is pleased to announce that it has completed an oversubscribed placing of 214,285,714 ordinary shares… with a small number of institutional investors. The placing was conducted at a price of 0.35 pence per share”Particular credit to Evil Banksta – and the company “pleased to announce”, with the price a 30% discount to the prior close?! (“oversubscribed” not exactly an achievement then!)...

Starcom – placing “to pursue a more aggressive marketing strategy”… or not?

Provider of wireless solutions for remote tracking, monitoring and protection, Starcom (STAR) “is pleased to announce that the company has conditionally raised £637,500… at a price of 1.25 pence per subscription share”. The market is not pleased – the shares currently more than 20% lower in response…

TXH
TXH

Tex Holdings – “Update on Trading” three and a half months after year-end… and at 4:55pm!

A yesterday after-market-close, 4:55pm, “Update on Trading” from plastic injection moulding and tooling, engineering products and boards and panels manufacturing group Tex Holdings (TXH). I’m guessing it ain’t going to be a positive one…

Tasty – discounted fundraising bears out my prior caution, though where from here?

Writing last month on Wildwood and dim t restaurants group Tasty (TAST) with the shares at 6.5p, I concluded that the noted trading and financial situation saw me retain prior caution. Today a placing & open offer announcement…

Venn Life Sciences – loan note issued. Hold tight, fireworks on the way

Venn Life Sciences (VENN), the AIM-listed integrated drug development partner, has announced that Raglan Capital, the vehicle of Cathal Friel, has subscribed for loan notes of £250,000...

Veltyco – directors provide bailout loans… but what about after more than a few more months?

“Veltyco Group plc (AIM: VLTY), the online marketing company for the gaming industry, announces that it has entered into separate loan agreements with three of its directors, being Paul Duffen, Marcel Noordeloos and Mark Rosman, pursuant to which each director will provide a loan of €166,667 to the company”. ‘Keep-the-lights-on’ funding then… and for how long?...

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Accesso – emphasises revenue & ‘profit’ growth… but look at the cash flow & the outlook for it!

‘Queuing, ticketing & distribution and in-venue experience’ technology group Accesso (ACSO) has announced 2018 results emphasising “continued growth with revenue of $118.7m representing an increase of 15.5% on 2017 revenue (proforma for IFRS 15) of $102.8m… adjusted operating profit up 25.5% to $25.1m” and “for 2019 we expect… high single digit overall organic revenue growth, similar to 2018”. Though having already been hit from around 3000p as recently as September, the shares are currently a further approaching 12% lower to 750p. Hmmm…

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MySale Group – from “confident” to “reorganisation programme has negatively impacted trading” in less than 7 weeks!

Online retailer MySale (MYSL) has announced results for its half-year ended 31st December 2018, including CEO Carl Jackson stating “performance during the first half was disappointing, however we took immediate action to address the issues the group faced”. Already down from 35p before December-announced own goals, the shares are though currently materially further lower today – at around 12p…

SAL
SAL

SpaceandPeople – “look forward to 2019 with confidence”… but then for 2018…

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!...

SCE
SCE

Surface Transforms – placing “following recent investor demand” bullshit again?

Surface Transforms (SCE) has updated including “we are pleased that current shareholders continued to support our strategy to become a series production supplier of carbon ceramic brake discs to the large volume original equipment manufacturer automotive market. We look forward to the future with confidence”. This from a “£1.9 million placing” announcement…

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Woodford Revolutionary Pharma-Dog Verseon launches blockchain nonsense. (PS- have you got $10m Neil?)

In my piece of 24 January I predicted that AIM-listed Neil Woodford dog Verseon (VERS, but formerly VSN) would need more cash and this morning it announced its intention to raise $10 million through a subscription “for working capital” (yeah, more like ongoing losses…) Oh, and it wants to raise funds from a global investor base into its new blockchain security. Oh goodie, where do I sign up?!

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PEL
PEL

Paragon Entertainment – “pleased to announce” share subscription… but is it sufficient?

Writing on Paragon Entertainment (PEL) last month I noted it “looking closely at ways of bringing longer term capital into the business” – though concluded at what price?… Now sub 1p, still an avoid / sell. Today a “Subscription” announcement…

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Redde – after Woodford buys more what about the “halted” dividend growth, “lack of dividend cover” & “broader pressure on margins”?!

Following on Friday from Redde (REDD) an intra-day “Contract Update”, surely not ANOTHER disaster for Neil Woodford?!, Tom noted yesterday Woodford having bought more shares on the Friday. Cue the shares slumping to 90p yesterday – down another more than 14%!… and there are some other features which make Woodford’s move look particularly questionable…

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Redde – intra-day “Contract Update”, surely not ANOTHER disaster for Neil Woodford?!

“Accident management and legal services” company Redde (REDD) has made an intra-day (12:18pm) “Contract Update” announcement. I’m guessing this ain’t going to be good news…

Autins – “pleased to announce” results & “confident 2019 will deliver positive results”. Really?

Previously writing on automotive sector acoustic and thermal insulation group Autins (AUTG) in October, it was with the shares falling further from the mid 30p’s; “many opportunities to grow and diversify” - why the ‘cost base steps’ then?. The shares are currently again lower to 20p on the back of “pleased to announce” full-year results. Hmmm…

LightwaveRF – discounted fundraising “to continue to scale the business… and provide working capital”. Really?!

“LightwaveRF (AIM: LWRF), the leading smart homes solutions provider, is pleased to announce that… it has successfully raised gross proceeds of £2.50 million through a placing of, and a subscription for, an aggregate of 29,411,780 new ordinary shares at a price of 8.5 pence per share”. Hmmm…

DeepMatter Group – with the dilution, why a larger placing?

An announcement from DeepMatter Group (DMTR) commencing; “Further to its announcement dated 20 December 2018, DeepMatter, the AIM-listed company focusing on digitizing chemistry, is pleased to announce that it has raised approximately £4.0 million by way of a placing of 159,185,680 new ordinary shares at 2.5 pence per share”. Hmmm – the shares have currently responded 17.5% lower…

DPP
DPP

DP Poland – “Broker Option Update” = incredible further contempt for diluted smaller investors who’ve seen the share price destroyed

DP Poland (DPP) “is pleased to announce that it has conditionally raised additional gross proceeds of approximately £0.5 million via the broker option”“Pleased to announce”, really?!?...

MySale – half-year trading update, can it recover from own goals?

Having updated in early December that it had “experienced challenging trading”, now a further trading update from online retailer, MySale (MYSL)…

DPP
DPP

DP Poland – trading underperformance, massively discounted bailout placing… CEO “step down… by mutual agreement”!?

I’ve consistently warned on DP Poland (DPP) – most recently last year with the shares at around 30p HERE. Today a “Proposed Placing, Board Change & Trading Update” announcement…

Veltyco – overdue receivables “no further payments having been received”. Uh oh…

Last month, previously writing on Veltyco (VLTY) it was updates on launch of own financial trading brand – delay, or worse?. Now a “Subscription, Receivables Update and Board Changes” announcement…

Accrol – “despite… operational improvements and sales price increases”…

In November 2017, I noted on Accrol (ACRL) bailout fundraising… at half of IPO price of only 17 months ago!. That was at 50p per share – but there was still much worse to follow. The shares had recovered from lows to a recent more than 20p – but that was before today a “Trading Update”

TCM
TCM
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Telit Communications – still a sell

With the share price of loss-making ‘Internet of Things’ play Telit Communications (TCM) flirting with a multi-year low, it is understandable that some may be tempted to go bottom fishing. As I see it, the bull case is as follows:

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7digital – “pleased to confirm” restructuring completion… but much it shouldn’t be pleased to confirm!

In September, previously writing on 7digital Group (7DIG) I questioned a “global leader” with Universal Music contract wins? – with it seeing me question AIM-listed companies which claim ‘global’/‘world’ leader an automatic bargepole / sell?. An intra-day (Uh oh) “Update” today commences that the group “is pleased to confirm”… but the shares are currently more than 50% lower, below 1p!…

PSL
PSL

Photonstar LED – “pleased to announce” placing. But it’s monumental dilution for what?

Photonstar LED (PSL) previously commenced announcements with “the British designer and manufacturer of smart LED lighting solutions and cloud based building management services”… . It today states “PhotonStar LED Group plc (AIM: PSL.L), is pleased to announce that it has raised gross proceeds of £100,000… at a price of 0.02p per share”

Bilby – reckons “pleased to announce” interims… I don’t reckon the recent institutional shareholders will be as pleased!

Gas heating, electrical and building services provider Bilby (BILB) reckons it “is pleased to announce its interim results for the six months ended 30 September 2018”. So why then are the shares currently circa 20% lower on the back of them, to below 75p?...

MPM
MPM

Mporium – argues “strong progress”, so what are new funds needed for?

Mporium (MPM), “the technology firm delivering event-driven marketing, is pleased to announce that it has conditionally raised approximately £2.3 million… at an issue price of 5 pence per subscription share”. This is with CEO Nelius De Groot emphasising “the group continues to make strong progress”, and the price comparing to a prior close of 4.3p. So great news then?...

MOS
MOS

Mobile Streams – “pleased to present its audited accounts”… it shouldn’t be!

The board of mobile content licenser and distributor Mobile Streams (MOS) “is pleased to present its audited accounts for the financial year ended 30 June 2018”. The shares have responded..., er, currently approaching 25% lower, to 0.70p!...

WSG
WSG

Westminster Group – “pleased to announce” an acquisition… but isn’t it short of cash?

Westminster Group (WSG) “is pleased to announce the acquisition of security and risk management company Keyguard UK Ltd”. But wait a minute; isn’t Westminster itself short of cash?...

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