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Quoted Micro 9 May 2022

AQUIS STOCK EXCHANGE

In 2021, Newbury Racecourse (NYR) is paying a special dividend of 89.6p a share. The £3m payment comes after the receipt of the final £10.7m from the sale of housing development land. Newbury Racecourse increased turnover by 75% to £14.8m as racing returned to the course. There is still potential for further recovery this year. Attendances increased from 12,000 to 105,000. The hotel reopened in January 2022. There was a swing from £2.17m loss to an underlying pre-tax profit of £333,000.

Quantum Exponential (QBIT) is investing £406,000 in Aegiq Ltd, a photonics company using quantum technologies in the cybersecurity market. That gives it a 4.06% stake. Helium Special Situations has reduced its stake from 4.57% to 1.52%.

Goodbody Health Inc (GDBY) reported better than expected revenues for 2021. The CBD products and testing company made an underlying loss of £900,000 on revenues of £17.1m. Arden forecasts a £5.1m profit this year.

VSA Capital (VSA) has received a settlement of outstanding fees of £153,000 from client Anglo African Agriculture in the form of 3.82 million shares. This gives VSA a 15.3% stake plus warrants and convertible loan notes.

Gunsynd (GUN) has terminated the disposal of Oyster Oil and Gas to Sajawin.

Clarify Pharma (PSYC) had net cash of £1.3m at the end of April 2022. Investment opportunities in the psychedelics market are being assessed.

Apollon Formularies (APOL) has acquired intellectual property and patents from Aion Therapeutic for £96,000 and 4.35 million shares. It will also pay a royalty fee of 4% on net revenues from products based on these patents. The patents cover potential cancer treatments.

ChallengerX (CXS) has appointed Olivia Edwards as chief executive and Nicholas Lyth as finance director.

Phase 1 assay results from the Monte Muambe project held by Altona Rare Earths (ANR) show significant levels of rare earths.

Coinsilium (COIN) has been appointed as adviser to Silta Finance and entered into an agreement to purchase $75,000 of future SILTA tokens. Silta is building a technology to connect decentralised finance to infrastructure project developers.

Capital for Colleagues (CFCP) has sold its remaining stake in builder’s merchant Merkko Group for £378,000.

Rogue Baron (SHNJ) has received the first UK order for Shinju and Shinju 8-year old whisky.

S-Ventures (SVEN) chairman David Mitchell bought 57,959 shares at 32p each. Chris Akers has increased its stake in Quetzal Capital (QTZ) from 19.1% to 20.1%. John Mahtani reduced his stake from 5.71% to 3.83%.

AIM

Online retailer of building materials CMO Group (CMO) continues to grow on the back of a buoyant market as well as gaining market share. The online share of the sector remains relatively low. The second half growth was not as fast as in the first half. In 2021, revenues grew 46% to £76.3m. There is organic growth supplemented by acquisitions. CMO moved from loss to an underlying pre-tax profit of £1.4m. Net cash was £6m. Following the acquisition of JTM Plumbing Plumbingsuperstore.co.uk is being launched later this year. First quarter trading has continued to be strong with like-for-like growth of 3%.

Neonatal intensive care medical devices supplier Inspiration Healthcare (IHC) increased full year revenues from £37m to £41.1m. Acquisition contributions offset the one-off Covid ventilator revenues in the previous year. Pre-tax profit improved from £3.13m to £3.96m, although earnings fell 12% to 6.1p a share because of the additional shares issued for acquisitions. The company’s order book is strong.

In 2021, targeted digital advertising services provider Dianomi (DNM) revenues grew from £28.4m to £35.8m, even though Asia Pacific revenues fell from £1.72m to £1.18m due to the ASX website stopping having advertising content. Underlying pre-tax profit moved from £2m to £2.9m – share based payment charges and float costs led to a loss being reported – and it is expected to increase to £3.6m this year. The average spend of the top 100 advertisers increased 27% to £280,000 each. Net cash was £10.3m at the end of 2021.

In 2021, Intelligent Ultrasound (IUG) reported revenues 47% higher at £7.6m, mainly from ultrasound simulation products, while the cash outflow from operations was £2.3m. AI revenues remain modest, and it will take time for them to build up. Cenkos upgraded its 2022 revenues forecast from £9m to £10m, but the cash outflow will be similar.

Plastics and packaging supplier Coral Products (CRU) is using some of its cash pile to acquire Film & Foil Solutions, a supplier of flexible packaging film used for food, books, carpets and for cable tapes. The initial payment is £1.35m in cash, plus £750,000 in shares at 15.5p each. There is just over £900,000 that could be payable based on the settlement of a contract dispute and an insurance payment. The acquired business made an underlying profit of £541,000 in 2021.

Energy efficiency as a service provider eEnergy Group (EAAS) has been hit by contract delays. That means that 2021-22 EBITDA could be £3m and not £4.4m as previously expected. A new finance director is being appointed.

Green hydrogen production developer ATOME Energy (ATOM), which was spun out of President Energy (PPC) at the end of 2021, has secured a major 60MW power purchase agreement with ANDE, the national power supplier in Paraguay. Hydrogen production could commence in Paraguay in the first quarter of 2023.

MAIN MARKET

LED lighting and wiring accessories supplier Luceco (LUCE) will report revenues around £15m lower than expected due to overstocking. This will knock £10m off operating profit. Price rises are offsetting the effect of inflation.

Castings (CGS) 2021-22 results will be slightly ahead of expectations. Demand for commercial vehicles remains strong, but there is still uncertainty about the ability produce heavy trucks.

Kendrick Resources (KEN) was formerly AIM-quoted BMR Group, which left AIM in August 2018 after problems with the progress of the Kabwe project in Zambia. Kendrick still has a 11% royalty interest in Kabwe. Kendrick Resources has acquired Northern X Finland and Northern X Scandinavian. In Finland, there is an exploration licence at the Koitelainen project and two licences at the Karhujupukka project. There are two projects in Sweden: the Airijoki project and the Central Sweden project. There is also an option over three projects in Norway.

Gresham Technologies (GHT) has secured a contract with an existing bank customer worth up to £6.3m over a period of five years. The company’s Clareti software will be used across the whole UK business of the bank.

Andrew Hore

Quoted Micro 25 April 2022

AQUIS STOCK EXCHANGE

Gunsynd (GUN) had net assets of £5.99m at the end of January 2022. That includes £1.08m in cash. Investee company Low6 is still seeking a listing in Toronto via 1319735 BC Ltd. Mining investee company Charger Metals plans to start its maiden drilling programme at the Coates project in Western Australia. First Tin joined the Main Market after the period end.

Tectonic Gold (TTAU) has appointed Ian Bruce as exploration manager, and he will restart the drilling at Specimen Hill. A permit has been secured in the same area for Taree Fields, which was historically a high-grade copper mine. Deep Blue Minerals, where Tectonic owns 10%, raised $236,000 from diamond sales.

Lombard Capital (LCAP) has agreed in principle the sale of LCP Financial to SBS Group for £4.2m in shares and the repayment of a £370,000 intercompany loan. Lombard Capital will acquire Waste and Recycling Services before the sale is completed. Management will be seeking shareholder approval to leave Aquis.

ChallengerX (CXS) has signed a five-year agreement with The American Arena League for the use of the SaaS-based platform CXSports. This will help to promote the league and generate revenues.

Blockchain and open finance investor Coinsilium (COIN) has agreed to purchase $200,000 of YELLOW tokens for the Yellow Network, which is a cross chain overlay, financial information exchange and distributed infrastructure network.

Adam Pollock, who was previously head of corporate and institutional at WH Ireland, has become a director of Oberon Capital, the broking business of Oberon Investments Group (OBE).

Vulcan Industries (VULC) has raised £48,000 at 1.37p each.

All Star Minerals (ASMO) is changing its name to Marula Mining.

AIM

TV programmes producer Zinc Media (ZIN) lost on £2.61m on revenues of £17.5m in 2021. There is already £13m of booked revenues for 2022 and there is potential further business worth £35m that could be delivered this year. A greater proportion of the work being won is for series, rather than one-off programmes. Zinc Communicate, which produces non-broadcast content and podcasts, is becoming increasingly important. The timing of the orders is uncertain and not all the work will materialise, although £8m is at an advanced stage. This suggests that 2022 revenues should be much higher, and Zinc Media should become profitable and cash generative. Last year, the cash outflow from operations was £245,000. Net cash was £2.18m at the end of 2021.

Churchill China (CHH) is beating its rivals thanks to its capital expenditure and investment in marketing, and it has a better order book than normal for this time of year. In 2021, pre-tax profit bounced back from £800,000 to £6m as revenues recovered from £36.4m to £60.8m. The total dividend is £24p a share, while there is £19m in the bank. Churchill China has taken on more than 200 additional staff in the past year and they still require training. Last autumn, selling prices were raised by 12% and a 5% increase is planned for May. That will help to offset the cost rises. Pre-tax profit is expected to be between £8m and £8.8m this year.

Tungsten West (TUN) is reviewing development options for the Hemerden mine because of rising costs. This will lead to a two-month delay. This could lead to a focus on sodium tungstate production because it is higher value than ammonium paratungstate.

Solid State (SOLI) continues to best expectations. Revenues for the year to March 2022 will be around 6% ahead of previous expectations at £85m, while there is a 11% upgrade in pre-tax profit to £7.4m.

Seeing Machines (LSE: SEE) has secured a collaboration with Magna to develop and demonstration model driver monitoring system (DMS) combining, camera, electronics and interior mirror technology. This should help Seeing Machines win more market share.

Plant-based polymers developer Itaconix (ITX) says volumes continue to increase, particularly in the dishwashing detergent ingredients market.

Coral Products (CRU) is trading ahead of expectations in the year to April 2022 and there is a second interim dividend of 0.4p a share. There could also be a final dividend to add to this year’s total of 0.9p a share.

MAIN MARKET

Nuclear-related business has helped structural steel supplier Severfield (SFR) to enjoy record orders. Logistics, infrastructure and data centres are other areas of high demand. Longer-term, battery manufacturing plants could be another booming area. The current order book is worth £479m. The 2021-22 figures will be in line with expectations with pre-tax profit forecast to improve from £24.3m to £28.1m. This year’s revenues should be better than previously expected, but profit expectations have been maintained because of higher steel costs. The higher steel prices mean that higher working capital is required.

Full year profit of kitchenware retailer ProCook Group (PROC) will be slightly lower than expected at £9.5m. ProCook has grown revenues in a market that is slightly down

J Smart Contractors (SMJ) reported a decline in interim revenues from £5.75m to £5.16m, while pre-tax profit jumped from £890,000 to £6.35m, although that was due to a gain on the sale of investment properties of £6.06m. It is unlikely that full year profit will be higher this year. Net assets are £117.2m, including £76.2m of investment properties and net cash of £27.6m. The interim dividend is 0.96p a share and the ex-dividend date is 5 May.

Andrew Hore

Quoted Micro 21 February 2022

AQUIS STOCK EXCHANGE

National Milk Records (NMRP) improved interim revenues by 6% to £11.4m, while pre-tax profit increased by 53% to £750,000. There was a £1m cash inflow from operations. Net debt was £1.1m at the end of December 2021. Genomics testing revenues were 17% higher. The interim dividend has been raised from 1.25p a share to 1.5p a share. Milk prices are strong, but costs are increasing.

Grid storage technology developer Invinity Energy Systems (IES) plans to gain a quotation on Aquis, while retaining its AIM quotation. This is so that it can also obtain an Aquis Access quotation for its warrants, which were issued in a fundraising at the end of last year. The short-term warrants are exercisable at 150p a share up until 15 September. The long-term warrants are exercisable at 225p a share up until 16 December 2024. The current share price is 77p.

Natural foods company S-Ventures (SVEN) has acquired the business of Livia’s Health Foods, which makes plant-based food treats. This includes Million Squares, Nugglets and Dunx. S-Ventures is paying £350,000 in cash and shares. The business has been loss making and generated revenues of £1.3m in the 12 months to January 2022. If revenues exceed £600,000 in the 10 months after acquisition than a further £100,000 is payable. VSA forecasts S-Ventures 2022 EBITDA of £1.8m.

Goodbody Health inc (GDBY) is launching blood testing through itkino, nbi, fire, shnj, coin, s network of clinics. More pharmacies are being added to the network. Covid tests are running at more than 500 a day even though UK testing requirements have been eased. The first clinic has been opened in Vancouver, Canada. Arden is forecasting a 2022 pre-tax profit of £5.1m, but this could depend on whether the level of Covid testing continues at these levels.

ChallengerX (CXS) has appointed John May as non-exec chairman and Brian Connell will take over as chief executive. Management is trying to unfreeze cash held in the accounts of its French subsidiary and says that they were mistakenly frozen after the former chief executive was arrested. There is still £550,000 of cash available for use by the company.

Western Selection (WESP) increased net assets to 68p a share at the end of 2021 thanks to gains on disposals and an uplift in the remaining stakes in Kinovo (KINO) and Northbridge Industrial Services (NBI). Net debt was £674,000 at the end of December 2021. There is no dividend.

IamFire (FIRE) has subscribed for a further £2m of convertible loan notes in WeShop. The conversion price is 75p a share. The beta version of the WeShop platform is on course.

Rogue Baron (SHNJ) is launching its Shinju whisky in the UK. This will be the first market with an 8-year old version of the whisky.

Coinsilium Group Ltd (COIN) is advising fashion brand Blvck Paris for the launch of the Blvck Genesis NFT collection.

Hydrogen Utopia International (HUI) says that talks with Mitsubishi Heavy Industries concerning the potential development of plastic waste to hydrogen facilities in Japan have ended.

SuperSeed Capital (WWW) managing director Mads Jensen has bought shares, while related party Capex Ventures sold 50,000 shares at 100p each, taking his interest to 81.9%. The shareholding of Anne Mette Horneman increased from 4.25% to 6.75%.

AIM

Franchise Brands (FRAN) has launched a recommended all share bid for kitchen services provider Filta Holdings (FLTA). The offer is 1.157 shares for each Filta share. Management and related parties own the majority of Filta. Shareholders owning more than 81% of Filta are backing the bid. Filta boss Jason Sayers will continue to run Filta, which provides cooking oil filtration and drain management services to restaurants and other venues in the UK and North America. Metro Rod, Metro Plumb and Willow Pumps are already owned by Franchise Brands and these services can be offered to Filta’s customer base in the UK.

Shield Therapeutics (STX) got off to a slow start with its Ferracu iron deficiency treatment launch in the US. Total 2021 revenues, including European income, were £1.5m. Forecasts are all over the place. The statement was in line with Peel Hunt’s forecast but well below the finnCap estimate. The 2022 revenues forecasts are the other way around with Peel Hunt (£27.9m) being much more optimistic than finnCap (£9.9m). They agree Shield will continue to lose money, though. This shows that management does not have any real idea what is going to happen, or it could have provided better guidance. Hopefully, there shall be better information when the full year results are published.

Circle Property (CRC) is selling one of its main properties and plans to return cash to shareholders. Circle Property is selling Kents Hill Park Conference Centre to LXI REIT for £34.5m – 1.5% ahead of book value. There are plans to sell other properties.

Domain name and online marketing services provider CentralNic (CNIC) is doing much better than initial expectations in 2022. Online marketing services is where the growth is coming from. Broker Zeus has upgraded its 2022 pre-tax profit forecast from $37.2m to $39m. CentralNic is acquiring Fireball Search and the .ruhr top level domain, which has around 10,000 domain registrations, for €600,000 in cash. A maiden dividend is likely to be announced with the 2021 figures.

Cloud-based conferencing services provider LoopUp (LOOP) says the 2021 trading outcome was in line with previously downgraded expectations, but lack of cash could become a problem. Last year’s revenues were £19.5m, down from £50.2m in 2020, which was a bumper year. It is also well below the £42.5m generated in 2019. The loss is expected to be more than £10m in 2021 and 2022. Net debt was £2.5m at the end of 2021 and it is forecast to rise to £5.7m at the end of 2022.

SkinBioTerapeutics (SBTX) is still optimistic about the prospects for the AxisBiotix-Ps food supplement treatment for psoriasis, but the second phase of the launch, which has just commenced, will be an important indicator of success. The first significant revenues will be in the second half of the year to June 2022. The SkinBiotix cosmetic ingredient is ready to be mass produced by Croda, which is talking to potential cosmetics customers.

Frontier IP (FIPP) has raised a further £3.2m from the sale of ADSs in AI-based drug discovery company Exscientia compared with a book value of £1.75m. Froniter IP has raised £6.1m in total and retains 1.17 million ADSs.

Ariana Resources (AAU) will pay a special dividend of 0.175p a share on 25 March with another payment of the same amount due later this year. Ariana says that drilling at the Kilrou deposit in Cyprus has confirmed the existence of gold at the site, as well as copper and zinc.

MAIN MARKET

Antimicrobial and textile odour control materials developer HeiQ (HEIQ) has secured a development partnership with Hugo Boss for HeiQ AeoniQ, a high-performance yarn. Hugo Boss is investing $5m in a subsidiary that holds the technology, which values that company at $200m. AeoniQ is designed as a sustainable alternative to oil-based nylon and polyester, which take up to 1,000 years to degrade and generate $135bn a year in fibre sales. HeiQ AeoniQ yarns are made from cellulosic biopolymers. The LYCRA Company will become the exclusive distributor of HeiQ AeoniQ yarns, and it will also make a financial contribution. The first product should be available in the second half of 2022.

Standard listed shell CYBA (CYBA) has agreed the acquisition of Narf Industries, which is a cyber security business, for $26.5m in cash and shares issued at 2p each. A placing will raise £6m at 2p a share. In 2020, Narf revenues were $2.78m and in the first half of 2021 they were $1.05m. SaaS subscriptions are generating an increasing proportion of revenues. Further acquisitions are planned.

BATM Advanced (BVC) says that its 2021 pre-tax profit figures will be slightly higher than expectations of $23m. The figures will be announced on 28 February.

Cizzle Biotechnology (CIZ) has agreed to acquire a 5% economic interest in AZD1656, a potential treatment for patients with Covid-19. This agreement was made with Conduit Pharmaceuticals and St George Street Capital and is in addition to previous agreements. Conduit has taken a 8.98% stake in Cizzle as part of the deal.

Studio Retail (STU) intends to appoint administrators.

Cash shell MAC Alpha Ltd (MACA) had £700,000 in cash at the end of 2021. Net assets are £369,000.

Andrew Hore

Alan Green covers #PETS Pets at Home, #COIN Coinsilium & #KDNC Cadence Minerals on the Vox Markets podcast

Alan Green covers #PETS Pets at Home, #COIN Coinsilium & #KDNC Cadence Minerals on the Vox Markets podcast

Listen to the Podcast here

Stockbox Media – Alan Green and Mark Fairbairn review the year, and discuss top picks for 2022

Stockbox Media – Alan Green and Mark Fairbairn review the year, and discuss top picks for 2022 including #CGNR, #PALM, #ALT, #SNT, #KAV, #KDNC, #TM1, #POW #BIDS, #COIN

Quoted Micro 13 December 2021

AQUIS STOCK EXCHANGE

Gibraltar-based RentGuarantor (RGG) provides a rent guarantee service to tenants in the private rental sector. It has joined the Access segment having raised £125,000 at 200p a share. Chief executive Paul Foy has agreed to lend the company £200,000. The business is currently loss-making and has to grow much bigger to get to the point where it is breaking even. The share price ended the week at 210p, although there were no reported trades.

Incathera (INC) continues discussions with two global cosmetics companies about the commercialisation of the Sol skin cancer treatment and started talks with two more. There was £627,000 in the bank at the end of £627,000 and this should last well into next year.

Capital For Colleagues (CFCP) has raised £1.95m at 64p a share and all the directors are participating in the placing. This will provide additional cash for investment. The company had £1.91m in the bank at the end of August 2021. NAV was 69.71p a share at the end of August 2021. A final dividend of 1.5p a share is payable on 3 March.

Lombard Capital (LCAP) lost £228,000 in the quarter to September 2021. The company requires cash, and the Gaskell House waste and recycling property is up for sales. Those proceeds will not be enough to pay off the bonds when payment is due at the end of January 2022. The plan is to try to extend the redemption date.

TECC Capital (TEC) had £1.1m in the bank at the end of September 2021, which is the same as the NAV. Acquisitions are being evaluated.

Clean Invest Africa (CIA) more than halved its interim loss to £553,000. Net liabilities have increased to £3.22m. More cash is required to get the most from the CoalTech technology.

Coinsilium Group Ltd (COIN) says investee company Greengage is withdrawing the application for a Gibraltar banking licence. The plan is to pursue an e-money licence and then apply for a UK bank licence.

KR1 (KR1) has paid the performance fee of £4.15m to Reflexivity Research, which is owned by the executives of KR1. There will be £830,000 paid in cash and the rest in shares. KR1 contributed 350,000 Poldadot in the Astar, formerly Plasm, crowdloan.

Sativa Wellness Inc (SWEL) generated record revenues in one week and that takes revenues for the eleven months to November 2021 to £13.8m. The growth is coming from the testing clinics.

Kevin Soltani has stepped down as chieve executive of Semper Fortis Esports (SEMP) and Keith Harris will be interim executive chairman.

Chris Akers has raised his stake in Quetzal Capital (QTZ) to 17.2%. Burns Singh Tennent-Bhohi increased his stake in Gledhow Investments (GDH) to 8.26%. Scwiar Capital has raised its shareholding in Helium Ventures (HEV) to 10.9%.

EPE Special Opportunities (ESO) had net assets of 511.93p a share at the end of November 2021. Share buybacks are planned and 150,000 shares were acquired at 350p each.

Pioneer Media Inc (PNER) has raised a further C$400,000 at C$1 a unit (one share and one warrant). This takes the total raised to C$1.5m. Vulcan Industries (VULC) has raised £383,000 via placings at 1.6p a share and 1.5p a share.

NFT Investments (NFT) is applying to list on the NEO Exchange in Canada.

AIM

Cloud video editing platform developer Blackbird (BIRD) is raising £8m at 28p a share with chief executive Ian McDonough investing £380,000. This will finance further technology development and add to the technical staff. There will also be cash for market testing advancements and new products. The potential market is enormous, and Blackbird has only just started to exploit new areas.

Windward Ltd (WNWD) has developed AI-based software that enables real-time information about seafaring vessels to be transmitted to their owners. Israel-based Windward raised £26.3m at 155p a share and it ended the week at 204p. The market capitalisation of £166.5m is high considering the progress made. In the six months to June 2021, revenues improved from $7.11m to $8.09m, while the loss jumped from $1.53m to $4.04m. Annual contract value is $19.7m with 99% of revenues from subscriptions.

Ondine Biomedical Inc (OBI) has returned to AIM and raised £22.3m at 53.41p a share. The share price ended the week at 58.5p. Canada-based Ondine develops photodisinfection-based therapies for drug resistant infections. The light-based technology can reduce inflammation and eliminate pathogens. It originally floated on AIM on 9 August 2004, then focused on dental treatments, and left in 2011. In the six months to June 2021, revenues increased from C$213,000 to C$1.98m, while the loss fell from C$7.48m to C$4.58m.

Redx Pharma (REDX) has received another $10m milestone payment from Jazz Pharmaceuticals as the research collaboration reaches the two year mark.

Antimicrobial technology developer Byotrol (LSE: BYOT) fell back into loss following the Covid-19 boosted revenues in the corresponding interim period. Revenues more than halved from £6.7m to £3.2m. There was £1.9m of cash at the end of September 2021.

4GLOBAL (4GBL) provides sports consultancy services to governments and other organisations, as well as subscription data products. It raised £4m at 91p when it joined AIM.

Nexus Infrastructure (NEXS) returned to profit last year as revenues improved from £125.7m to £137m. Civil engineering services provider Tamdown continued to lose money but the eSmart Networks EV charging installation division moved into profit. Management is considering floating eSmart Networks on AIM or bringing in a strategic investor. The money that Nexus would raise can then be used to acquire a business to broaden the range of services offered by the TriConnex utilities connection division.

MAIN MARKET

Sivota (SIV) has found a potential reverse takeover candidate in the form of Israel-based Apester, which has an interactive digital platform. The plan is to pay $12m for a 53.9% stake in Apester. Sivota wants to raise £11m.

Urban Logistics REIT (SHED) has moved from AIM to the Main Market following a £250m fundraising.

MENA Land (MENA) has lost its listing, trading having been suspended since 2 November 2020.

Argo Blockchain (ARB) has resolved its litigation with Celsius by terminating the lease agreement and paying $6.32m to Celsius, which is handing over title to equipment and paying bitcoin to Argo. November revenues were £8.29m with Argo mining 185 bitcoin.

Andrew Hore

Alan Green talks about Versarien #VRS , Bluefield Solar Income Fund #BSIF & Coinsilium #COIN

 

 

vox podcastAlan Green talks about Versarien #VRS , Bluefield Solar Income Fund #BSIF & Coinsilium #COIN

 

https://www.voxmarkets.co.uk/articles/alan-green-talks-about-versarien-bluefield-solar-income-fund-coinsilium-df8cab9/

Quoted Micro 22 November 2021

AQUIS STOCK EXCHANGE

Globe Capital (GCAP) has reported its 2020 and latest interim results and undergone board changes. Simon Grant-Rennick becomes executive chairman and Burns Singh Tennent-Bhohi an executive director. They are advancing £100,000 via a convertible, which will convert at 0.04p a share following the upcoming AGM. More cash will be raised, and a new corporate strategy announced. There was £23,000 in the bank at the end of June 2021. There were net liabilities. Peterhouse has been appointed as corporate adviser.

Voyager Life (VOY) interim revenues were £59,000 and it remains loss making. There was £1.74m in cash at the middle of November 2021 and monthly overheads are below £50,000. The CBD products supplier is getting its products stocked in retailers and has opened its third store.

Helium Ventures (HEV) has made its maiden investment in Blue Star Helium, which has the Voyager prospect at Las Animas County Colorado. There are indications that it could have one of the highest helium concentrations in the US. A maiden well could be drilled in December.

Sativa Wellness Inc (SWEL) is offering a range of blood tests through 40 Superdrug sites.

Tectonic Gold (TTAU) has completed the Specimen Hill drilling campaign. Initial results for Goldsmith’s Reef, which was mined 100 years ago, has had some positive drilling results and there are more results to come. This will help to secure a partner.

Wishbone Gold (WSBN) is preparing to drill at Red Setter in Western Australia. Four high priority zones have been identified. Wishbone raised £126,000 at 14p a share.

EPE Special Opportunities Ltd (ESO) plans to issue up to 25 million zero dividend preference shares at 100p each.

Pioneer Media Holdings Inc (PNER) has raised C$1.1m at C$1 per unit (one share and one warrant exercisable at C$1.50). Investee company Leaf Mobile Inc is raising cash ahead of a proposed standard listing.

IamFire (FIRE) has an option to subscribe up to $4.5m into convertible loan notes of former Aquis company Boanerges. They convert into shares at 75p each.

Coinsilium Group Ltd (COIN) sold 4.58 million treasury shares at 10p each to raise £458,000.

Omni Egis (OMNI) is leaving Aquis on 24 November.

Scott Livingston has taken a 5.16% stake in Silverwood Brands (SLWD).

AIM

Acoustic and thermal insulation material manufacturer Autins Group (AUTG) has raised £3m at 20p a share, which was a significant discount to the market price. The cash will be used to develop the Neptune acoustic material manufacturing facilities and in product development for electric vehicles.

Steel structures supplier Billington (BILN) has been hit by short-term delays to contracts, which has knocked £3.5m off forecast 2021 revenues. That has led to a halving of the 2021 forecast pre-tax profit to £1.1m. The order book is still strong.

Microbiome-based products developer Optibiotix Health (OPTI) has sold 3.64 million shares in SkinBioTerapeutics (SBTX) at 55p each and raised £2m. Optibiotix still owns 20.7% of the company and that stake is valued at £18m.

Managed IT and networking services provider AdEPT Technology (ADT) increased interim revenues by one-fifth to £34.3m. Underlying pre-tax profit was 16% higher at £3.5m and earnings per share were 30% ahead at 13.2p due to a lower tax charge. Net debt was £31.2m at the end of September 2021, which was after spending £9m on acquiring Datrix.

Ilika (IKA) says that its Stereax and Goliath battery technologies remain on track. Commercial revenues from the smaller Stereax batteries should commence in 2022. Once lithium-ion equivalence is achieved Ilika will seek a partner for Goliath.

Health services provider Totally (TLY) had a strong interim period as insourcing and planned care revenues improved. Organic revenue growth was 14%, while the underlying pre-tax profit was £2.1m. There was £18.3m in cash at the end of September 2021, which provides plenty of fire power for making acquisitions in the out of hospital care sector. The urgent care business has been winning contracts and extensions to existing ones. Full year pre-tax profit could improve from £2.5m to £4.1m with more growth to come from the existing operations as demand returns to more normal levels.

Arden has updated its forecast for Dekel Agri-Vision (DKL) due to shipping delays holding up the start of production at the cashew plant. Palm oil production and revenues continue to grow. This means that the company will not make a pre-tax profit in 2021, but it should still make a substantial 2022 profit.

Trakm8 (TRAK) has not done well in recent years but the latest statement from the telemetry equipment and services provider has sparked an upgrade. The company should breakeven this year and make a significant profit in 2022-23.

MAIN MARKET

Technology-focused shell Red Capital (REDC) raised £4m at 10p a share and after expenses it has total cash of £725,000. The shares certainly jumped when trading commenced and closed at 25.5p. This is the latest vehicle floated by Marwyn Capital founder David Williams.

PYX Resources Ltd (PYX) was already quoted on the NSX in Australia before joining the standard list. PYX is in a strong position as the second largest resources of zircon in the world with zircon prices increasing and demand remaining strong. It has two mineral sands projects in Central Kalimantan in Indonesia with one already in production. No new money was raised. Trading started at 94p a share and ended the week at 92.8p a share. There was solid trading in the shares all week.

Technology Minerals (TM1) was set up as investment company after Stranger Holdings (STPH) decided not to proceed with the acquisition of Technology Minerals and related assets. It has acquired these assets and is building a business that covers the battery cycle from exploration and mining to recycling. The main focus is on the Emperium project in Idaho, where £100,000 will be spent over up to 18 months. The company raised £1.5m at 2.25p a share and issued 786.2 million shares to acquire the assets. The share price opened at 2.6p and ended the first day at 3.25p. It ended the week at 3.5875p.

A general meeting has been requisitioned at East Imperial (EISB) by Andrew Regan of Corvus Capital. He wants to remove two directors and replace them with his picks. The board criticises the experience of his choices.

Andrew Hore

Quoted Micro 8 November 2021

AQUIS STOCK EXCHANGE

There are three companies on the shortlist of the AQSE company of the year award at the Small Cap Awards 2021. They are medical IT provider DXS International (DXSP), oncology and dermatology treatments developer Incanthera (INC) and Kent-based wine maker Chapel Down Group (CDGP).

Brewer Daniel Thwaites (THW) was hampered by lockdowns in the six months to September 2021, but they were not as bad as in the first half of the previous year. Revenues increased from £221.8m to £47.8m, while the business returned to profit with £7.5m before tax. Net debt was £61.4m at the end of September 2021. Government support has come to an end and there are inflationary pressures, only partly offset by beer duty changes.

Quantum Exponential (QBIT) is a shell focused on quantum technology and predominantly companies in NATO countries. There are no other quoted companies offering a potential investment in this sector. The plan is to put together a portfolio of quantum technology company investments, which are most likely to be at the seed or early stage. Quantum computing uses the laws of quantum physics to increase the speed of computation. Nearly £2.5m was raised after expenses at 5p and the share price ended the week at 6.625p (6.25p/7p). The NAV is 1.65p a share, so the current share price is more than four times that level. Helium Special Situations has taken a 4.57% stake.

Kashei Holdings (KASH) intends to build up a portfolio of investments in cryptocurrencies and blockchain. The portfolio will include digital assets, listed investments, venture capital opportunities and staking digital assets into liquidity smart contracts and perform staking services. There should be around £3.7m available for investment, although 10% of that will be required for working capital, following the placing at 16p a share. The current mid-price is 20.25p (19.5p/21p). Pro forma NAV is 13.1p a share.

Samarkand Group (SMK) is acquiring Napiers the Herbalists, which it has been trading with for three years. The initial consideration is £1.7m in cash with deferred consideration of £100,000. There is also contingent consideration of up to $700,000. In the year to March 2021, revenues were £1m and EBITDA was £240,000.

All Star Minerals (ASMO) signed exclusive heads of terms with a company with gemstone assets and another company with diamond assets. It has terminated the gemstone deal and extended the potential diamond deal. The potential acquisition has white and coloured diamonds and an off-take and financing agreement. Ian Harebottle, the interim chief executive of All Star Minerals, owns 25% of the diamond company.

Vulcan Industries (VULC) has signed heads of terms to acquire Aftech, which is a sheet metal fabrication company that fits in with existing subsidiaries. Aftech has net assets of £780,000 and net debt of £90,000. Full year revenues are estimated to be £1m with EBITDA of £175,000. Vulcan will pay £1.55m in shares and this may represent 21.5% of the enlarged share capital.

TruSpine Technologies (TSP) has submitted a request to the FDA to consider the Cervi-LOK system as a breakthrough device technology. That would enable the device to generate higher margins.

Coinsilium Group Ltd (COIN) had crypto assets of $4.22m at the beginning of November 2021. That is more than double the value at the end of June.

Rutherford Health (RUTH) increased interim revenues by 36% to £4.85m in the six months to August 2021. September revenues were more than £1m. More oncologists have been trained to use the company’s technology. Rutherford Health will continue to lose money.

Pioneer Media Inc (PNER) has acquired CryptoPunk 8869 for $433,700.

Asia Wealth Group Holdings (AWLP) increased interim revenues from $894,000 to $940,000, while pre-tax profit improved from $117,000 to $123,000. There was $1.36m in the bank at the end of August 2021.

AIM

Online electrical retailer Marks Electrical (MRK) specialises in kitchen appliance, audio visual products and small electrical appliances and has been growing its share of the market. Since 2014, Marks Electrical has increased its market share from 0.41% to 1.22%. A placing raised £2.63m after expenses at 110p each and shareholders sold shares worth £25m. The company’s warehouse has enough capacity to cope with revenues of £180m, more than treble last year’s level. The shares ended the first day at 110.5p.

Devolver Digital Inc (DEVO) is the latest video games publisher to join AIM. The Delaware-based company’s original focus has been indie games produced by third parties, but more recently it has been acquiring companies with their own IP. The cash raised by the company in the placing will be used to acquire strategic partners and finance the development of third party and in-house games. Nearly £30m was raised after expenses and the price has risen from the placing price of 157p to 187.5p. The overall video games market is forecast to grow from $177.8bn to $218.7bn in 2024.

Escape rooms operator Escape Hunt (ESC) is acquiring Boom Battle Bars, which offers competitive socialising activities along with drinks and food. The total cost is £17.38m, with £9.88m in cash and deferred consideration of up to 25 million shares. The shares are subject to an earn-out based on revenues number of sites open. Escape Hunt raised £15m at 30p a share and could raise up to £2.2m from a one-for-12 open offer at the same share price. The acceptance date is 19 November. The enlarged group will be renamed XP Factory.

Self-storage sites operator Lok’nStore (LOK) had a much more significant than forecast uplift in its NAV at the end of July 2021. It increased from 555.5p a share to 731.1p a share. This year the dividend has been raised by 2p a share to 15p a share. The additional sites in progress will add 38% to space over the next few years.

Bleepa communications technology developer Feedback (FDBK) is raising £10m in a placing at 0.7p a share to take advantage of opportunities and finally build up revenues. There is also a one-for-15 open offer to existing shareholders that can raise up to £500,000 more. The CareLocker technology that is being piloted in Sussex could be a game changer. Combined with Bleepa it can store patient records individually in the cloud instead of in one place where it is easier to hack.

Gensource Potash (GSP) was already quoted on the Toronto Venture Exchange before joining AIM, and its focus is the Tugaske potash project in Canada. Gensource owns 67% of the vehicle that owns the project and has arranged finance to cover the C$352m cost of building the mine. The Tugaske project’s proven and probable mineral reserve is 14.1 million tonnes and there is a likely minimum expected mine life of more than 56 years, based on annual production of 250,000 tonnes of saleable muriate of potash. The share price ended the first day at 27.5p.

Remote tracking and monitoring technology provider Starcom (STAR) is changing its name to t42 IoT Tracking Solutions and rebranding its products. There will also be an eight-for-one share consolidation.

MAIN MARKET

In the six months to August 2021, Braemar Shipping Services (BMS) revenues grew by 11% to £47.4m, while pre-tax profit improved from £4.47m to £4.92m. The order book is 28% ahead at $55.5m. Net debt has fallen to £14.7m. There is a 2p a share interim dividend.

IT services provider Triad Group (TRD) reported a decline in interim revenues, but pre-tax profit jumped from £1,000 to £670,000. There is a 2p a share interim dividend. There is cash of £5.34m. high utilisation levels are continuing.

Andrew Hore

Alan Green discusses Coinsilium #COIN $CINGF & Altona Rare Earths #ANR on the Stockbox Research podcast

Alan Green discusses Coinsilium #COIN $CINGF & Altona Rare Earths #ANR on the Stockbox Research podcast

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