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Quoted Micro 24 January 2022

AQUIS STOCK EXCHANGE

Good Energy (GOOD) has agreed the sale of its generating assets ahead of the 11 February general meeting called by Ecotricity where it wanted shareholders to vote on any disposal. The initial payment by Bluefield Solar Income Fund is £16.4m, less a distribution of £700,000 since the lockbox date. Deferred consideration of up to £8.1m based on the performance of the assets. The book value was £17.7m. This will leave Good Energy substantially debt free with cash in the bank. This will enable further investment in Zap-Map and other transport and decentralised energy businesses.

Broker Arden has initiated research on CBD products and testing company Goodbody Health (GDBY) and set a 10p a share target price. The growth is coming from testing services and Goodbody Health is expected to move into profit this year. Currently 94% of testing revenues relate to Covid, but other blood tests are set to be in the majority by 2023.

Brewer Adnams (ADB) has decided to announce an interim dividend having not paid a dividend for more than two years. The A shares will receive 39p a share and B shares 156p a share. The ex-dividend date is 27 January.

Hydrogen Utopia International (HUI) has signed a letter of intent with Mitsubishi Heavy Industries, which will review the waste plastic to hydrogen technologies.

Cross border e-commerce technology provider Samarkand Group (SMK) has agreed a three-year contract extension with TEMPLESPA.

Cadence Minerals (KDNC) says that investee company European Metals Holdings has published an update to its 2019 pre-feasibility study for the 49%-owned Cinovec lithium mine in the Czech Republic. The post-tax NPV8 has increased to $3.09bn, although the upfront cost has also increased to $644m.

Recent new admission Kasei Holdings (KASH) has made $3.65m of cryptocurrency investments since joining Aquis. It has also made a $25,000 initial investment in Game-fi ecosystem company ZONE. Kasei had £3.7m available for investment.

Investment company Gledhow Investments (GDH) had cash of £525,000 at the end of September 2021, having raised £850,000 in a placing during the year. Net assets increased from £1.3m to £2.78m.

IamFire (FIRE) reduced its interim loss from £162,000 to £86,000. Since the half year end, IamFire has raised a further £4.75m.

NQ Minerals remains in administration and has been withdrawn from Aquis.

AIM

Pawnbroker and foreign currency exchange services company Ramsdens (RFX) reported a £600,000 pre-tax profit on revenues of £40.7m in the year to September 2021. Jewellery sales were strong both online and in stores. The foreign exchange division was hit by the lack of travel. This year the foreign exchange business should recover although it is difficult to assess by how much. Even so, there should be a jump in profit this year as Covid restrictions are removed.

Interim figures from small company finance provider Time Finance (TIME) reported flat interim revenues of £11.8m and pre-tax profit of £1.2m. Full year profit could improve from £2m to £2.9m, although earnings per share could be flat, but a much bigger jump is expected next year. NAV remains above the market capitalisation and there is a conservative provisioning policy.

Pressure Technologies (PRES) reported flat full year revenues, but the underlying loss was reduced. A good performance from the Chesterfield Special Cylinders, helped by defence orders, was offset by weak oil and gas demand for precision machined components. Net debt was £4.9m. There should be a return to profit this year. Demand for cylinders for hydrogen refuelling is building up and should become significant over the next few years. Oil and gas demand is also improving.

Ilika (IKA) expects to start to build up production at its new Stereax battery plant in Chandler’s Ford by the beginning of the next financial year. The production lines have been installed and the process and product qualification is underway. Revenues were £195,000 in the six months to October 2021. These came from grants relating to the Goliath technology. The Goliath battery technology is at an early stage and is suitable for uses where larger batteries are required, such as electric vehicles and consumer appliances. There will be minimal group revenues in the second half with the growth coming in 2022-23. Cash outflows will continue but there will still be cash going into 2024.

Kromek (KMK) had a tough first half due to component supply problems, but the imaging and detection technology company expects to have a much stronger second half. Interim revenue edged up to £4.71m, while full year revenues are expected to be £15m. There is 96% visibility based on current second half orders. Kromek continues to be loss-making, but it is still expected to have net cash at the end of April 2022. That is despite increasing component stocks. Kromek has won a seven-year imaging contract worth $17m.

Credit hire and legal services firm Anexo (ANX) says that 2021 revenues and profit have exceeded expectations. There were 2,300 credit hire vehicles on the road at the end of 2021. Progressive has upgraded its underlying pre-tax profit forecast from £20m to £24.5m.

Boku (BOKU) has sold its identity division to Twilio for up to $32.3m. This will stop those losses and help group profit to increase. In 2021, the payments division increased its revenues by one-fifth to $61.9m, while EBITDA rose by a similar proportion to $22.9m. Stripping out the identity division loss means that the 2022 pre-tax profit has been upgraded from $15.3m to $16.8m.

Growth is accelerating at domain name and online marketing services provider CentralNic (CNIC). The 2021 full year growth in revenues of 37%, was better than expected and higher than the 29% growth in the first nine months of 2021.

MAIN MARKET

LED lighting and wiring accessories supplier Luceco (LUCE) says that 2021 operating profit will be £39m as expected. There was strong growth last year, but this year will have tougher comparatives. Price rises have offset cost inflation but 2022 may be second half weighted in performance terms.

Tibergest is making a mandatory offer for Photo-Me International (PHTM) after acquiring 7.7% and taking its stake to 36.5%. It has to offer the 75p a share it paid for the latest stake. Tibergest is associated with Photo-Me chief executive Serge Crasnianski. There are no plans to cancel the listing.

CYBA (CYBA) is still in talks concerning the acquisition of PolySwarm, which has issued the Nectar (NCT) cryptocurrency token. The NCT price has increased to 17.34 cents and PolySwarm owns 339 million NCT.

Rockpool Acquisitions (ROC) has terminated the acquisition of Greenview Gas. Rockpool should get £1.25m back from Greenview.

GSTechnologies (GST) has acquired a Lithuanian crypto exchange licence through the acquisition of UAB Glindala. Change of control has to be approved. There are plans to open a crypto exchange in the second quarter of 2022.

Executive chairman John Rigg has bought more shares in IT services company Triad (TRD). He acquired 35,000 shares at 164.3p each and 50,000 shares at 133.5p. He owns 27.8% of Triad.

Toople (TOOP) has opened a second contract centre, which is supported by BT. The south Cheshire centre is up and running and will focus on new small business customers gained through BT. The company’s other contact centre is in South Africa.

Oxford Cannabinoid Technologies (OCTP) had cash of £12m at the end of November 2021. Phase I clinical trials for OCT461201 for the treatment of neuropathic and visceral pain could commence in the first quarter of 2023.

Andrew Hore

Alan Green CEO of Brand Communications talks about: i3 Energy #I3E Tertiary Minerals #TYM ECR Minerals #ECR Pressure Technology #PRES & Andalas Energy & Power #ADL

Alan Green CEO of Brand Communications talks about: i3 Energy #I3E Tertiary Minerals #TYM ECR Minerals #ECR Pressure Technology #PRES & Andalas Energy & Power #ADL

(Interview starts at 19 minutes 46 seconds)

Buy Pressure Technologies #PRES says VectorVest. The group is well funded and in good shape to drive growth in the coming year

Sheffield based Pressure Technologies Plc (PRES.L) was founded on its leading market position as a designer and manufacturer of high-pressure components and systems serving the global energy, defence and industrial gases markets. Today it continues to serve those markets from a broader engineering base with specialist precision engineering businesses and has a worldwide presence in Alternative Energy as a global leader in biogas upgrading. PRES has four divisions, Precision Machined Components, Engineered Products, Cylinders and Alternative Energy, serving four main markets: oil and gas, defence, industrial gases and alternative energy.

Examine this trading opportunity and a host of other similar stocks. A single payment of £5.95 gives access to the VectorVest Risk Free 30-day trial. More here

On Dec 12th 2017, PRES published results for the year ended 30 Sept 2017. Revenues rose to £38.4m (2016 £35.8m), with adjusted operating profit of £1.1m (2016: loss £(0.4) m) and adjusted EPS of 6.3p (2016: loss (2.6)p). CEO John Hayward said the reorganisation in recent years “means that there are significant operational gearing gains to be made as volumes increase.” Referring to the post year end £4.8m institutional fundraising, he added that the share issue would “improve the Group’s ability to support large-scale organic growth,” … and with no immediate major capital expenditure required “the Group is in good shape and well prepared to capitalise on opportunities as they arise.”

In mid March 2018, the VectorVest RT (Relative Timing) metric for PRES started climbing, flagging up a potential growth opportunity. RT is a fast, smart, accurate indicator of a stock’s price trend, and despite the stock currently trading close to year highs at 182p, PRES still logs a current rating of 1.55 on this metric, which is excellent on a scale of 0.00 – 2.00. The stock also scores a high RV (Relative Value) rating of 1.47 – also excellent on a scale of 0.00 to 2.00. This indicator is far superior to a simple comparison of Price and Value because it is computed from an analysis of projected price appreciation three years out, AAA Corporate Bond Rates, and risk. A fair RS (Relative Safety) rating of 0.88 (scale of 0.00 to 2.00) may deter cautious traders, but at the current 182p the value opportunity is clear to see against a current VectorVest valuation of 228p per share.

The chart of PRES.L is shown above. The share is on a BUY recommendation on VectorVest after recently charting a first rising bottom. Since January 2018 the share has charted a “cup and handle” pattern which combined with the rising bottom and the current break of the 52-week high paints a positive technical picture. The technical target from the cup and handle is the same as the VectorVest valuation.  Adventurous traders should consider an entry at 180p with a stop at 160p and target of 220p.

When examining the factors that go to make up successful VectorVest stock picks, the companies in question frequently provide specialist services to a niche market and are manoeuvring to dominate through rapid growth. PRES is one such company, and so successful has it been that institutional investors approached the board and funded a £4.8m war chest for future acquisitions. The low RS rating may prove a bridge too far for less adventurous investors, but VectorVest believes all the factors are in place to drive rapid growth in the coming year. Buy.

Dr David Paul

May 15th 2018

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