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Alan Green talks Venture Life Group #VLG, Hemogenyx #HEMO & Gfinity #GFIN on Vox Markets podcast

Alan Green discusses Venture Life Group #VLG, Hemogenyx #HMO & Gfinity #GFIN with Justin Waite on the Vox Markets podcast. Interview is 13 mins in

Andrew Hore – Quoted Micro 6 April 2021

AQUIS STOCK EXCHANGE

Good Energy (GOOD) says that customer numbers have remained stable since September. The 2020 figures will be published on 13 April. There was £18.1m in the bank at the end of 2020. Good has restructured its two renewable generation debts into one debt facility of £39.8m.

Arbuthnot Banking Group (ARBB) has completed the acquisition of vehicle finance provider Asset Alliance Group for £10.1m, which is 50% of the estimated fair value of £20.2m. Arbuthnot raised £8.6m by selling shares in Secure Trust, in which it retains a 5.74% stake.

Greencare Capital (GRE) is investing £100,000 in Clearly Supplements in the form of a 5% convertible loan. The conversion price is a 30% discount to a listing price. Clearly has developed a range of products and is establishing distribution in Asia.

Gunsynd (GUN) has sold three million shares in Rogue Baron (SHNJ) and raised £120,000. Gunsynd still owns 25% of the spirits brands developer and Chris Akers has taken a 3.48% stake. It also has £111,464 of convertible loan notes in Rogue Baron.

TruSpine Technologies (TSP) has raised £585,000 at 10p a share with each share coming with a warrant exercisable at 15p a share. A further £165,000 may be raised. The cash will fund the FDA application and commercial launch for Cervi-LOK.

Interim revenues of Love Hemp Group (LIFE) jumped from £426,000 to £2.38m. There was a loss of £962,000. There was net cash of £79,000 at the end of 2020. The company is moving into new facilities in south London in the middle of this year. Capacity will increase to 500,000 units of cannabidiol CBD products each month.

Tectonic Gold (TTAU) did not generate any revenues in the six months to December 2020. There was a £60,000 loss, although cash used in operating activities was £141,000.

Altona Rare Earths (ANR) can acquire a 71% interest in the owner of the Nankoma rare earths project in Uganda. There is an option to acquire a 51% stake for £1 by the end of June. The option fee is £25,000 in cash and 250,000 ordinary shares. The stake can be increased to 71% by the issue of £15,000 worth of shares.

S-Ventures (SVEN) has reported figures for the period from its formation on 6 July 2020 to the end of January 2021. There was a £60,000 cash outflow from operations and the company made two investments with another one made since January.

Optiva Securities has been approved as a corporate adviser.

AIM

Parsley Box (MEAL) has got off to a disappointing start on AIM after raising £5m at 200p a share. The shares ended the first day of trading at 185p, before recovering to 187.5p. Parsley Box has a strong brand position in its market niche and Covid-19 lockdowns have helped it to grow its customer base. The company has a range of more than 60 single portion meals, that can be stored in a cupboard and do not have to put in a fridge or freezer. Parsley Box makes more than 900,000 deliveries per month and demand has increased due to Covid-19. There are more than 500,000 registered users and 154,000 of these active customers at the beginning of this year.

ActiveOps (AOM) is a supplier of management process automation software and it got off to a good start after it floated on AIM. The share price has risen from the placing price of 168p to 190p. No new money was raised in the float and there is £8m in the bank. ActiveOps is losing money but its is generating cash. Once customers are gained, they increase their spending over a number of years and this will be supplemented by new customer wins.

Destiny Pharma (DEST) announced positive results of the phase 2b clinical study on the use of XF-73 nasal gel for the prevention of post-surgical infections. The next step will be the design of a phase III study. Discussions are being arranged with the FDA in the US.

Gfinity (GFIN) has completed its strategic review and has decided to continue with its existing strategy of focusing on higher margin revenues. Interim revenues more than trebled and the operating loss fell by nearly three-quarters to £900,000. There is £1.8m in the bank.

Arena Events (ARE) has raised a further £11m at 14p a share, having raised £9.5m at 10p a share one year earlier. The cash will enable management to bid for strategic assets, including Aztec Shaffer, a US company in Chapter 11.

K3 Business Technology (KBT) has written £16.9m off its intangible assets. Ongoing revenues dipped from £50.1m to £48.8m and the software provider made a small profit in the year to November 2020. Recurring revenues are three-quarters of the total.

Itaconix (ITX) increased revenues from $1.29m to $3.29m in 2020. Increased use of its sustainable polymers in detergents, odour control and personal care products is enabling revenues to grow and they will rise further this year. Itaconix is still losing money but it has the cash it requires for the medium-term.

Lawyer Ince Group (INCE) has agreed a £17m, three-year financing arrangement with Investec which replaces the £10m facility with Barclays.

Recent AIM admission TEAM (TEAM) is proposing an all-share offer for Tavistock Investments (TAVI) and shareholders owning 14% of Tavistock have indicated support for the offer from the investment manager.

Energy supplier Yu Group (YU.) generated better than expected 2020 revenues of £101.5m and the loss was reduced. Net cash was £11.7m at the end of 2020. This leaves management in a strong position to increase the scale of the business. This year there will be full contributions from customer books acquired last year. Average monthly new bookings were £10.3m in the second half of 2020.

Time Out (TMO) has raised £17m at 35p a share. This should supply working capital until November 2022.

MAIN MARKET

Macfarlane Group (MACF) is paying up to £4.5m for Cornwall-based protective packaging supplier Carters Packaging. In the year to March 2020, Carters made a pre-tax profit of £500,000 on revenues of £4.2m.

MasMovil has launched a bid for Euskatel, in which Zegona Communications (ZEG) has a 21.4% stake. This values the target at €2bn and the Zegona shareholding at €428m. That puts a value of 170p a share on Zegona.

InnovaDerma (IDP) reported a one-fifth decline in interim revenues to £4.1mand a more than trebled loss of £1m. Management expects trading to be uncertain for the rest of the financial year. The recent fundraising will help to keep the business on a sound footing while it waits for a more substantial recovery.

Andrew Hore

Alan Green presents the investment case for Blue Star Capital #BLU and Gfinity #GFIN on his weekly Stockbox Media Research talk

Alan Green presents the investment case for Blue Star Capital #BLU and Gfinity #GFIN on his weekly Stockbox Media Research talk

Alan Green talks markets, Itaconix #ITX, AB Dynamics #ABDP & Gfinity #GFIN on the UK Investor Magazine podcast

Alan Green discusses markets, US Elections, Itaconix #ITX, AB Dynamics #ABDP & Gfinity #GFIN on the UK Investor Magazine podcast.

Alan Green talks Gfinity #GFIN, Mirriad #MIRI & Red Rock Resources #RRR on Vox Markets podcast

Alan Green discusses Gfinity #GFIN, Mirriad #MIRI & Red Rock Resources #RRR with Justin Waite on the Vox Markets podcast. Interview is 12 minutes in.

Alan Green talks Gfinity #GFIN, Bidstack #BIDS & Team 17 #TM17 on Vox Markets podcast

Alan Green discusses Gfinity #GFIN, Bidstack #BIDS & Team 17 #TM17 with Justin Waite on the Vox Markets podcast. Interview is 37 minutes 32 seconds in.

Alan Green talks Open Orphan #ORPH, Avacta #AVCT & Zanaga #ZIOC, plus ECR Minerals #ECR, Novacyt #NCYT & Gfinity #GFIN on Vox Markets podcast

Alan Green discusses Open Orphan #ORPH, Avacta #AVCT & Zanaga #ZIOC, plus ECR Minerals #ECR, Novacyt #NCYT & Gfinity #GFIN with Justin Waite on the Vox Markets podcast. Interview is 19 minutes 30 seconds in.

Alan Green talks Boohoo #BOO, Gfinity #GFIN, Zanaga Iron Ore #ZIOC & ECR Minerals #ECR on UK Investor Mag podcast

Alan Green discussess Boohoo #BOO, Gfinity #GFIN, Zanaga Iron Ore #ZIOC & ECR Minerals #ECR with Jonathan Roy on the UK Investor Mag podcast.

Alan Green discusses Gfinity #GFIN, ECR Minerals #ECR & On The Beach #OTB on the Vox Markets podcast

Alan Green discusses Gfinity #GFIN, ECR Minerals #ECR & On The Beach #OTB with Justin Waite on the Vox Markets podcast

Andrew Hore Quoted Micro 19 August 2019

NEX EXCHANGE

Brewer Adnams (ADB) reported a decline in first half revenues from £35.5m to £34.7m, while the loss increased from £840,000 to £1.15m. Beer volumes were 2% ahead, compared with a 1% decline in the market. Low alcohol beer sales grew. Gin sales fell because of greater competition. A fire at the Ship at Levington hampered the performance of the pubs business. Adnams made an underlying profit in 2018, thanks to a better second half performance. The new IT system went live in March and the implementation has been a distraction to management. The dividends are unchanged at 78p a share for each B share and 19.5p per A share.  

Bruce Pubs (PUB) has decided to cancel trading in its 7.2% secured bonds, 31 March 2022. There are £20,000 worth of bonds admitted to the market and there have been no trades. Bruce Pubs had wanted to raise up to £20m from the bond issue. It is therefore not a surprise that Bruce Pubs believes it is not worth having a trading facility. The bonds can be redeemed early by the company.

NQ Minerals (NQMI) has produced 10,164 tonnes of lead concentrate, 7,431 tonnes of zinc concentrate and 46,863 tonnes of pyrite concentrate in the first half of 2019. An operating profit of A$3.6m was made on sales of A$23m.

TechFinancials (TECH) had $1.23m in the bank at the end of June 2019. A reduction in trade receivables meant that there was a small cash inflow from operating activities, but there was $402,000 capitalised developed on the blockchain ticketing system.

China-focused healthcare company MiLOC Group Ltd (ML.P) has raised £755,000 at 30p a share.

Queros Capital Partners (QCP) has gained a quotation for its bonds on the Frankfurt Stock Exchange

AIM  

ICAMAP has acquired 7.94 million shares in easyHotel (EZH) at its offer price of 95p a share, taking its stake to 44.1%. This means that it is a mandatory cash offer.

Iofina (IOF) has launched IofinaEX Global to deal in hemp derived products in Central America and the Caribbean. Iofina will potentially link up with a government in the region that wants to develop its country as a hub for hemp derived products. There are no details of this potential partnership. The company believes that its regulatory expertise in the iodine market will be helpful in the CBD market. The US is likely to be a major market.

LightwaveRF (LWRF) has raised £1.3m at 7p a share. The smart homes equipment supplier wants the cash to finance further growth. There are also plans to secure a facility for stock.

Altitude (ALT) is considering the disposal of its Manchester-based promotion products supplier AdProducts.com. This would enable Altitude to concentrate on its AIM platform for promotional products suppliers.

Greatland Gold (GGP) has raised £4.2m at 1.85p a share and that will be used to finance exploration in the Paterson region of Australia. There has been positive exploration news from the Scallywag prospect in the Paterson region. A ground gravity survey starts this month and an induced polarisation survey next month. Then 3D modelling using the data will come up with drill targets.

Cyber security software and services provider Corero Network Security (CNS) says interim revenues are lower, but operating costs are unchanged. That means that the interim loss has increased. However, full year revenues are expected to be one-fifth higher, but higher investment in sales means that the loss will still be higher. Net cash was $3.6m at the end of June 2019.

Equals Group (EQLS) is raising up to £16m via a placing and open offer. The international payments company has raised £14m at 110p a share and up to £2m will come from the one-for-90 open offer. The cash will be used for acquisitions and working capital.

Tanfield (TAN) says that 49%-owned Snorkel International has moved back into profit in the second quarter of 2019, although the first half was still loss-making. Last year, the value of this investment in the access equipment supplier was cut from £36.3m to £19.1m.

Oil and gas producer President Energy (PPC) says that there should not be a material effect on its operations from a change in Argentinian president. Revenues are US dollar based and cash is held in the same currency, so the decline of the Argentinian peso should not be too much of a problem.

Anthony Laiker has subscribed £25,000 in Vela Technologies (VELA) at 0.1p a share. A general meeting has to approve the share issue to the executive director, as well as an issue of 6.25 million warrants exercisable at 0.15p. Approval of the conversion of £200,000 of loan notes plus interest into nearly 241 million shares will also require the company to be given the ability to issue more shares. Laiker would than own more than 301 million shares.

Gfinity (GFIN) is pulling out of its Australian joint venture because the esports company wants to focus its cash on the US and other important markets.  

Workspace software provider Essensys (ESYS) says that its revenues were one-quarter higher at £20.5m in the year to July 2019. That was better than expected. Annual recurring revenues run rate is £17.3m.

MAIN MARKET  

Associated British Engineering (ASBE) made an increased loss of £1.81m, up from £582,000 the previous year. The company’s main pension fund remains a worry and there are ongoing discussions with the Pensions Regulator. There are net liabilities of £3.71m after the pension deficit of £4.98m.

Nanoco (NANO) generated revenues of £7.3m in the year to July 2019, more than double the previous year. The cadmium-free quantum dots developer had £7m in cash at the end of July and expects to have £6m at the end of 2019.

Highway Capital (HWC) has issued €30,000 of new convertible loan notes. These are convertible to a value in excess of 50% of the net asset value of the company at the time of conversion. The terms of an existing convertible loan note of £100,000 have been changed and the conversion price is 5p a share.

Shareholders in Avocet Mining (AVM) have voted against the resolution to wind up the company. This means that it is likely to go into administration unless there is a viable transaction that the board can assess.

Global Resources Investment Trust (GRIT) wanted shareholders to approve the voluntary liquidation of the company, but there is not enough support for the proposal. GRIT has sold 430 million shares in Kalia for £225,000 in order to provide working capital. A new board is being appointed to undertake a strategic review. James Normand will become chairman and Martin Lampshire as an executive director. Stephen Roberts will become a non-executive director.  

IMC Exploration (IMC) has been awarded two additional licences in County Wexford. They adjoin an existing licence where there are indications of gold.

Book publisher Quarto (QRT) reduced its interim loss from $6.6m to $4m on flat revenues of $56.4m. There was a change in the mix of revenues with children’s books increasing revenues by14% and in geographic terms more of the revenues were in the US, which moved into profit. Net debt has fallen by 11% to $65m.

Zenith Energy (ZEN) says that drilling has commenced at well C-37 in the Jafarli oilfield.

Pendragon (PDG) is selling its Chevrolet dealership in California for £17.2m. GM can alternatively nominate another purchaser if it wants. The rest of the US business will be sold.

Andrew Hore 

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