There is no answer to the question as to whether AIM-listed Catenae Innovation (CTEA) was trading whilst insolvent, as posed here. But what we do know is that the fat lady has finished her warm-up and is coming on stage: we learnt at 1.20pm on a Friday afternoon (AKA no-one-is-watching o’clock) that there is still no sign of the rescue bail-out funding hoped for on 11 January. And Catenae isn’t even sure whether the funds it hopes for will be in the form of equity or debt even if it does arrive. It doesn’t sound as though discussions have advanced very far, does it?
Following its rather smelly announcement after hours at no-one-is-watching o’clock on December 20 which offered up nice Christmas presents to shareholders in the form of a profit warning and a statement that its financial position was weak, AIM-listed Catenae Innovation (CTEA) followed up yesterday at 12.23pm (lunchtime on a Friday, no-one-is-watching o’clock) with a further announcement that it still not agreed the hoped-for £100,000 bailout and that absent new funding it will be a trip to the corporate undertakers. Nigel did warn you but there is a bigger question....
Following last week’s admission that despite deals signed with Bradford City FC and Southend United Community and Educational Trust last Thursday but by Friday (after-hours) a profit warning had to be issued, AIM-listed Catenae Innovations (CTEA) has announced that the proposals put to a GM yesterday were passed…….and its sole NED (apart from the Interim Chairman) has resigned with immediate effect. Oh, and its financial position continues to be dire. The shares are off by 23% since my last warning over the weekend, but it seems there is more to come.
Catenae Innovation (CTEA) snuck out another profit warning on Friday at 5.02pm – truly no-one-is-watching o’clock, telling the market that its trading performance continues to be below management expectations as notified on 11 September and its financial position remains weak. Oh dear, of dear – things aren’t getting any better for the former Milestone Group (MSG) showing once again that Warren Buffett’s adage that when a bad company meets good (or only slightly better) management, it is the reputation for the former which prevails.
I’ve never been able to see any value in Catenae Innovation (CTEA) and haven’t been surprised to see the share price collapse, but an attempt to give it a pump now seems to be underway – which I’d expect given that a placing can’t be that far away!
Provider of digital media and technology, Catenae Innovation (CTEA) has announced results for its half year ended 31st March 2019 and that “the company is now in a position where it is taking advantage of the existing product suite and is seeing growth in terms of potential pipeline and converted sales. The company continues to look at opportunities that enable it to expand its reach into new sectors and to significantly increase its growth”…
Catenae Innovation (CTEA) said that it“is pleased to announce a placing… at an important time for the company’s development strategy”…
I’ve never been a fan of Catenae Innovation (CTEA), but I know that some of the other ShareProphets writers are more bullish on it and that it has been making some progress with its business.
Catenae Innovation (CTEA) has announced “a 5-year renewable licence framework agreement with Z/Yen Group Limited for the use of ‘ChainZy’ - Z/Yen’s distributed ledger platform”…
Catenae Innovation (CTEA) has announced what it considers “a significant step for the OnSide product”...
With the Sith Lord Zak Mir hosting, presenting CEO's knew they would some really tough questions (that's sarcasm folks) after presenting. Third up was Tony Sanders of Catenae (CTEA) The next City forum hosted by the Sith Lord is February 25. Put the date in your diary now.
Catenae Innovation (CTEA) has announced “it has signed its first agreements for OnSite with Firedoor Guardian Limited”...
Catenae Innovation (CTEA) has announced results for its year ended 30th September 2018, including “the board saw the restructuring of the business as critical to delivering the new business strategy and became the primary focus for much of the year. The period saw the commencement of the recovery for the business with the introduction of the new product set and the board are pleased to see that the revised products areas are attracting both interest and revenues”…
Catenae Innovation (CTEA) has announced a first contract for a solution utilising its blockchain technology and updated on its such technology and announced a product launch…
Digital media and technology provider, Catenae Innovation (CTEA) “is pleased to announce” the raising of £524,945 through the issue of new shares at 0.12p each, with CEO Tony Sanders emphasising “the company is at an interesting stage of its development underlined by the support of the senior management and directors. Furthermore, we are pleased to complete this placing at a premium and welcome the support from the large UK based institutional investor, specialising in Tech companies, who has taken a significant stake in the business”...
Catenae (CTEA), “the AIM quoted provider of digital media and technology, is pleased to announce that it has signed a 3 year agreement with Southend United Community and Educational Trust for the provision of its OnSide application”. Ah, ‘The Mariners’ as David Cameron would probably say…
Catenae Innovation (CTEA) has had an update of sorts. We have also spoken to the company. It is coming together now, we believe.
Catenae Innovation (CTEA) has announced a further two proof of concept agreements and some balance sheet progress…
Catenae Innovation (CTEA) has announced its results for the six months ended 31st March 2018 showing a loss on limited revenue, though also emphasising “the group has been through a transformation both in terms of the group's management and also in its strategic focus... The group is now well positioned to focus on executing the new strategy, building revenues from the products and services now available to the group, particularly those utilising blockchain technology in the digital media and fintech markets”…
Catenae Innovation (CTEA) has updated including proof-of-concept agreements for its Trust in Media joint venture and its ‘OnSide Pro’ solution and management appointments…
Catenae Innovation (CTEA) has announced a “first agreement for the provision of Trust in Media's Fanbase service to one of the UK's largest entertainment promoters representing some major names in the music industry” – helping the shares up to a current 0.15p to buy…
It seems to be the season for big share price rises off of the back of very little in the way of substance across quite a few companies at the lower end of AIM at the moment!
Comedy from across the pond where things have taken a turn for the worse for ex-Milestone favourite Lyin' Larry Cummins and his latest ex-employer, Black Cactus Global (OTC: BLGI), which has been forced to put out a hilarious mea culpa. Wonder who’s been ramping wildly?
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