Today Exchange XR (EXR) – formerly known as VR education - has announced that its shares have been suspended at 0.225p and that “the board has unfortunately determined that it needs to proceed with a court approved liquidation in accordance with Irish Law. It is currently not expected that this process would provide any return for shareholders.” Post mortem vicar?
Most recently writing on Engage XR (EXR), last January with the shares up to 1.775p I concluded, with depleting cash, an above £9 million market cap caveat emptor and still avoid/sell. The shares most recently closed at 0.475p and what about now a latest “Trading Update”?
Describing itself as “a leading immersive technology company”, Engage XR (EXR) has announced the unveiling of its “comprehensive education offering” and that it “anticipate significant growth opportunities in the global education sector as the price of headsets continues to fall”. So what of a current share price response to 1.775p, more than 150% higher?!
Most recently writing on company describing itself as “a leading Metaverse / Spatial Computing technology company” Engage XR (EXR), in August with the shares falling below 1p I questioned how ‘satisfying’ is the performance really? and concluded still avoid/sell. The shares most recently closed at 0.60p and what of now a “Pre-Close Trading Update”?
Engage XR (EXR) has issued a trading update which it states it “is pleased to provide” and on which CEO David Whelan emphasises “good progress within the Corporate Learning & Development sectors… satisfied with the resilient performance of the business in the first half of the year… Against a backdrop where our platform partners such as Meta and Lenovo continue to look to build out recurring revenues in the education, training and development sectors, I remain as confident as ever that ENGAGE is in a prime position to capitalise on this nascent but growing market”. So what of a current share price response down more than 17% to below 1p and a £5 million market capitalisation?
Describing itself as “a leading spatial computing and metaverse technology company”, Engage XR (EXR) today states that it “is pleased to announce its audited results for the 12 months ended 31 December 2023”. Why then are the shares at 2p, having reached comfortably above 3p in February?
Describing itself as “a leading Metaverse / spatial computing technology company”, Engage XR (EXR) has issued a “Major Contract Wins”-titled announcement and the shares have currently responded more than 40% higher to 3.6p. So very major indeed contract wins?
Previously writing on self-described “leading spatial computing and metaverse technology company” Engage XR (EXR), in September with the shares up to back above 3p I concluded, despite it particularly expects the benefits of a Lenovo hardware partnership to start being seen early in the following quarter, its current financial reality suggested still avoid/sell. Today a “trading update” with CEO David Whelan emphasising “2023 has been a very valuable year”… so what of a share price currently more than 23% further down at 2.15p?!
Previously writing on Engage XR (EXR), last month with the shares up to 3.6p I noted I’d look out for the fuller financial detail of the 11th September-expected half-year results and for further trading detail but questioned at that point how optimistic to really be and concluded to continue to avoid. The shares most recently closed at 2.85p, but what about them currently back above 3p on the back of the half-year results announcement?
Describing itself as “a leading Metaverse/Spatial Computing technology company”, Engage XR (EXR) states that it “is pleased to provide an update on trading for the six months ended 30 June 2023” and what of this and the shares currently more than 9% higher at 3.6p in response?
Previously writing on Engage XR (EXR), two weeks ago with it describing itself as “a leading metaverse technology company”, I concluded to be particularly wary of announcements such as its latest “showcases first AI-powered virtual employee”. Now a “pleased to announce… placing”. Quelle surprise!
Describing itself as “a leading metaverse technology company”, Engage XR (EXR) has announced that it “has successfully developed and demonstrated the integration of artificial intelligence into its ENGAGE professional metaverse platform”, with CEO David Whelan arguing Engage’s AI applications “will place superpowers into the hands of our clients in terms of virtual world-building, on-the-fly creativity and professional client-facing services”. Hmmm, attempted ramptastic?
Describing itself as “a leading metaverse technology company”, Engage XR (EXR) has issued a trading update including emphasising “revenue for the group is expected to be €3.9m, an increase of 63% on 2021… cash collections in December being slightly ahead of schedule and revenue being better than expected in December”. So what of a current 4.525p share price, down from 13p as recently as last month?
Last month I questioned on ‘Virtual reality technology company’ Engage XR (EXR) argues “a huge moment for the group”, but how “successful” is this evolution to be?, concluding with the shares up to 15p ‘I look forward to seeing just how “strong” the cash position remains at the year-end… certainly at this juncture, avoid / sell’. The shares last closed at 13p…and today a “trading update” and they’re now plummeting.
