As Biome becomes the latest dog to leave the AIM sewer you have to question any company joining: meet Aussie howler Wellnex

Shares in Biome (BIOM) have plunged 60% to 1.5p as it has announced that it is set t leave AIM. The reasons are the usual ones cited: lack of liquidity, Mr Market not valuing it fairly, can’t raise capital, costs. So Biome is going private where it reckons it will flourish or it may just die away from the publicity of public markets. We hear this story almost every day so why would anyone want to list on AIM?

Biome Technologies (#BIOM) – proposed AIM cancellation, “believe… in the best interests of the company and its shareholders”

Biome Technologies – secured funding facility from related parties, states “interest is not payable” BUT…

Describing itself as “a leading bioplastics and radio frequency technology business”, Biome Technologies (BIOM) has announced a £750,000 secured funding loan facility “provided by the company's non-executive directors who are also substantial shareholders. The secured funding facility will enable the company, across its divisions, to navigate the period through to completion of the RF contracts”. How good is the news from a current 4.5p share price?

Biome Technologies – after a trading warning last month, now a further “Trading Update and Board Change”. Uh oh!…

Describing itself as “a leading bioplastics and radio frequency technology business”, Biome Technologies (BIOM) has issued a “Trading Update and Board Change” announcement including noting “additional complexities relating to component deliveries” and “John Standen has stepped down from the board with immediate effect”. This doesn’t sound good then!

Biome Technologies – after September-argued “challenges… progressing towards resolution”, already another trading warning!

Describing itself as “a leading bioplastics and radio frequency technology business”, Biome Technologies (BIOM) has issued a trading update including “revenues for the nine months to 30 September 2024 were £3.2m… in line with management expectations” and that it “is encouraged by the progress being made in both divisions to improve revenue run rates”. But currently “a leading bioplastics and radio frequency technology business”?, and what of the shares further down, towards 5p, in response to its latest?

Biome Technologies – retail offer closed at an increased size, but still proposed mega-dilution…

Biome Technologies (BIOM) states that it “is pleased to announce that the retail offer… has now closed”, with “significant shareholder demand… and, as a result, the company has increased the size of the retail offer”. How ‘pleasing’ is this from a most recent close 10p share price?

Biome Technologies (#BIOM) – closed 5p per share “retail offer” raising an increased to £0.16m

Biome Technologies – after I warned bailout funding to be needed in a challenging financing environment, now the proposed mega-dilution…

Previously writing on company describing itself as “a leading bioplastics and radio frequency technology business” Biome Technologies (BIOM), last month with the shares further down to around 40p I wrote ‘hopefully my prior warnings were heeded as now having to ‘examine ways’ to have “sufficient working capital”. Er, what about the ongoing losses?’, concluding in a currently still challenging financing environment, at what price that? and, natch, currently still a sell. Today “trading update” and “fundraise” announcements – and the shares currently crashing further lower to just 12.5p!

Biome Technologies (#BIOM) – proposed re-financing including new equity at 5p per share and that including an up to £80,000 REX “retail offer”

Biome Technologies (#BIOM) – notes some H2 phasing of revenue, though also some end-customer “continued production and regulatory difficulties”

Biome Technologies – hopefully my prior warnings were heeded as now having to ‘examine ways’ to have “sufficient working capital”. Er, what about the ongoing losses?

Previously writing on company describing itself as “a leading bioplastics and radio frequency technology business” Biome Technologies (BIOM), in April with the shares down to 85p I concluded that its trading didn’t provide confidence of sufficient funding towards operating cash-flow sustainability and to still avoid/sell. What of now a “Trading update” announcement… and the shares currently further down, to around 40p?

Biome Technologies – Q1 “slightly lower than management's expectations” and “hopeful” of sufficient funding. Hmmm…

Previously writing on company describing itself as “a leading bioplastics and radio frequency technology business” Biome Technologies (BIOM) last month with the shares at 107.5p I concluded that I retained some doubts on cash even ‘broadly breakeven’ this year and on the balance sheet position. Today a trading update and 2023 calendar year results… and the shares currently further lower at 85p.

Biome Technologies (#BIOM) – Q1 revenue -44% YoY, argues “slightly lower than management's expectations… confident that the group will achieve its expectations for the 2024 full year”. Hmmm

Biome Technologies – “Contract win for Stanelco RF Division”. Er, how tight is the balance sheet position though?

Describing itself as “a leading bioplastics and radio frequency technology business”, Biome Technologies (BIOM) has issued an announcement today commencing that it “is pleased to announce that its RF Technologies division has been awarded a further contract win” and including that “this important order results from the division's ongoing strategy of diversification beyond its traditional strength into new high-value medical market areas”. How “important” does the order look from the valuation from a current 107.5p share price?

Biome Technologies – emphasises “significant achievement” contract win, but what’s the bottom-line outlook?

Biome Technologies (BIOM) has announced that its Stanelco RF Technologies division has been awarded a contract “to supply a novel induction furnace system to a global manufacturer of scientific glass products… The first major contract with this customer and in the sub-sector of the scientific glass industry… One of a number of opportunities that are currently in contract discussions”. Sounds good, and what of a current approaching 8% higher share price response to 137.5p?

Biome Technologies – should it have been ‘looking forward to providing a further update with the results’?...

Previously writing on Biome Technologies (BIOM), on a January trading update I wrote ‘looks forward to providing a further update with results in April’. Should it be?. So what of today that update and results?

Biome Technologies – trading update and ‘looks forward to providing a further update with results in April’. Should it be?

Describing itself as “a leading bioplastics and radio frequency technology business”, Biome Technologies (BIOM) has issued a trading update for the 2022 calendar year including net cash ‘ahead of expectations’ and RF Technologies division revenue doubled to £1.8 million. So what of a current approaching 3% lower share price response to 85p?

Steve and Co could Be Wrong about BIOME as the Green Bandwagon Gathers Speed.

Hello Share Movers. Despite detractors among some of my colleagues on this mind-blowing site, including the fiendishly analystic Steve Moore, I renew my support for a company that makes plastic substitutes. Biome Technologies (BIOM) had a torrid time of late, plunging 170p to 46p last month. However, the shares rocketed by as much as 100% this week, later dropping back to about 60%. There aren't many shares that put on even 10% these days.

Biome Technologies – shares soar on Q3 trading update, but how’s the cash trajectory?

Bioplastics and radio frequency technology company Biome Technologies (BIOM) has issued a trading update commencing that “Group revenues for the quarter ended 30 September 2022 were in line with management expectations at £1.9m and were 77% ahead of the similar period last year” and including “encouraging signs from the uptick in demand from the large opportunity we have been pursuing for some time; growth from the broadened customer base and the portfolio of scale opportunities”. What though of a share price currently up approaching 50% on the announcement to 75p?

Biome Technologies – interims, financial stress indeed!

Previously writing on company which described itself as “a leading bioplastics and radio frequency technology business” Biome Technologies (BIOM), earlier this month with the shares at 175p I noted suggested financial stress – it will be interesting to review the 22nd September-scheduled half-year results detail and balance sheet and, ahead of that, avoid. The shares last closed at 170p and now the half-year results.