AIM-listed Catenae Innovation (CTEA) has announced its delayed FY20 results and Interims to March 2021. You can’t say we didn’t warn you: in short, the numbers are calamitous and the shares are an outstanding sell. It is Ouzo on Cornflakes time!
Today the Telegraph reported that UK Vaccine passport plans are to be scrapped. Given that a blockchain supported vaccine passport was the only hope for AIM uber dog Catenae (CTEA), are there any other reasons to continue to hold this share where the company is valued at circa £5 million?
AIM-listed Catenae Innovation (CTEA) has waxed lyrical this morning about the acquisition of Hyperneph Software Limited. The acquisition – a 51% partial stake in the outfit – is set to cost Catenae’s grateful shareholders £270,000 in cash and £50,000 in Catenae confetti to be issued at the end of February next year at a 10-day VWAP. The transaction is classed as a Related Party Transaction as one former director of Catenae is on the board of Hyperneph, alongside a former employee and current adviser to Catenae.
It was announced this morning that AIM-listed Catenae Innovation (CTEA) is to delay releasing its accounts to 30 September 2020 with the blessing of AIM Regulation, which has given the company until the end of June on the grounds of the Covid pandemic. I will come to this later, but we were also treated to a trading update……which was indeed a treat, if you are a bear.
AIM-listed Catenae Innovation (CTEA) offered up more than its fair share of RNS Reaches last year and this morning we have another. Remember, and RNS Reach is classified essentially as marketing material, yet the shares are up by a whopping 45% at 2.75p, having climbed as high as 3.15p!
AIM-listed Catenae Innovation (CTEA) – fresh from its fundraise announced Wednesday which added £1 million to its coffers at 2p per share – has announced a new pilot agreement for its Covid-bandwagon testing platform with an unnamed Fortune 500 American professional services and construction company. But if the BBMs think this is exciting, we are again warned that the deal is not expected to generate substantial revenues. Or, indeed, any revenues at all.
AIM-listed POS Catenae Innovation (CTEA) has announced a placing at 2p to raise £1 million and a further 2.4 million golden tickets are being issues to cover directors’ fees and certain current liabilities. It is Ouzo-on-cornflakes time. But there is another issue…..
Yesterday I took apart the ramptastic announcement from AIM-listed Catenae Innovation (CTEA) regarding its joint venture with BHA Medical, and showed that the JV vehicle was worth just 10p. But the nonsense does not stop there.
On 9 December, Catenae (CTEA) issued a TR1 which indicated that Spreadex had acquired a 10.54% stake up from an apparently nil or a previously undisclosable percentage on 2 December 2020. On 15 December, Catenae issued a TRI showing that Spreadex’s 10.54% interest had reduced to 8.23%
Having been through this morning’s ramptastic announcement from AIM-listed Catenae (CTEA) and its joint venture with BHA Medical now known as Synovate Global Ltd, I thought I should take a quick trip to Companies House to have a butchers’ at Synovate.
AIM-listed Covid-ramp Catenae Innovation (CTEA) has announced that its joint venture with BHA Medical, now renamed Synovate Global Ltd (today the world, tomorrow the universe!), has got two orders for its package involving BHAs Covid test kits and Catenae’s data management platform. Whoopie-do, let’s all pile in –this is going to take over the world. Or not…….there is a catch!
This morning AIM-listed Catenae Innovation plc (CTEA) has issued two RNSs covering a new joint venture with BHA Medical – to which is it issuing 10 million warrants at 2.5p, and a further 2 million warrants at 2.5p to “other parties”….whoever that may be. Catenae’s shares are up to 2.8p on the news, so BHA and person or persons unknown are already in the money.
AIM-listed Catenae Innovation (CTEA) is rapidly losing its Covid appeal. Having ended the pre-Covid period at around 0.26p per share, the company jumped on the Covid bandwagon and saw its shares roof it to peak at over 9p. But since the end of August Catenae’s lustre had dulled and now the shares are at 2.3p. It seems that what goes up must come down and as such there seems to be a long way to go. One reason could be related to its bandwagon Onsite-ID App, which we were led to believe would see some results as part of Newcastle Premier Health’s Access Planning Control. So what has happened? On 25 August we were told:
In August I noted that my list of five slam-dunk sells for 2020 was up, rather than down, by an amazing 41% - even though one is now a zero. Earlier this month the gains had been pared back to 25.5% but now, just two weeks later it seems that gravity is finally reasserting itself.
Yesterday we saw AIM-listed Catenae Innovation (CTEA) try to dress up paying for a marketing deal in shares as a good thing when surely the truth of it was that it was out of cash, and worse still the grateful recipient of the shares has to wait for the AGM for approval of increase in headroom. In other words, Catenae is out of cash and out of share-issuance headroom. This morning we were offered a Business Update...
AIM-listed Catenae Innovation (CTEA) has announced a shares-for-fees deal with marketing consultancy Markops Limited. The shares, to be issued at 3.65p assuming the forthcoming AGM approves the lifting of the headroom available, will not hit the market until 28 September and are apparently worth £12,500. Now I’m sure that Markops are fine people, but……..
AIM-listed dog Catenae Innovation (CTEA) released its FY results to September 2019 and Interims to March 2020 this morning. What a dog’s breakfast! We have been saying for some time that Catenae was technically insolvent and this morning the hard numbers show that we were bang on the (lack of) money...
AIM-listed Catenae (CTEA) shares are up this morning in reaction to the latest update on its Covid-bandwagon ramp. This, of course, was a technically insolvent outfit before some clever clogs at Catenae Towers realised that the mug punters would pile into anything to do with Covid-19 and thus a project involving a consortium in which two companies which apparently had been working together for 25 years despite one of them only coming into existence 13 years ago was born. Catenae’s shares roofed it and now two placings later (at a whopping discount) sees Catenae funded perhaps to the end of the year. This morning there was an update on the consortium Covid-19 bandwagon project……
Having warned the market on Thursday that a placing was on the way at a substantial discount, the placing duly arrived yesterday morning at two minutes to ten – 37.5 million bits of confetti at 2p to raise £703,000 gross and see off £47,000 worth of liabilities. In some ways one has to congratulate the Broker on a job well done, given that the shares closed Thursday night at 2.65p that amounts to a discount of just 24.5% - a big improvement on the last effort at a monster 77% discount. So where does that leave the company?
