Keyword results: cash burn

SmartSpace Software – full year “in line with market expectations”. Er...

‘Smart’ buildings and commercial spaces software company SmartSpace (SMRT) states that it “is pleased to announce a trading update… the group has been progressing its objective to build a high growth SaaS business with strong recurring revenues and consequently, expects that results for the full year ending 31 January 2022 will be in line with market expectations”. At a current 75p share price, why though are the shares down from above 180p as recently as July?…

CyanConnode – “solid progress” or continuing cash burn? (And what about the borrowings?!)

CyanConnode (CYAN), which describes itself as “a world leader in Narrowband Radio Frequency Smart Mesh Networks”, states that it “is pleased to provide a trading update for the nine-month period ended 31 December 2021”. What then is it which sees the shares currently 3.5% lower below 21p?…

Microsaic Systems – “trading update”. Forgot the loss and cash burn?

A trading update from mass spectrometry equipment company Microsaic Systems (MSYS) commences that “revenues for FY21 have significantly exceeded those of FY20, recovering to a level slightly ahead of that in FY19, a pre-pandemic benchmark” and includes CEO Glenn Tracey “absolutely delighted”. So what of a current share price response down to around 0.19p?…

DeepMatter – Christmas Eve fundraising roll-call of shame… Oh, and a revenue warning!

On Monday on ‘digital chemistry data’ group DeepMatter (DMTRas the shares fell below 0.70p I concluded hopefully our prior warnings were heeded, though still bargepole / sell. Hopefully at least that warning was heeded as now a Christmas Eve “Placing, Subscription and Open Offer”…

ITX
ITX

Itaconix – positive production from a leading innovator… or delivery delays from another Neil Woodford pick dog?...

Describing itself as “a leading innovator in plant-based specialty polymers used as essential ingredients in everyday consumer products”, Itaconix (ITX) has announced that “successful” interim measures have enabled it to have “met and expects to continue to meet all customer orders” after water damage for which it has filed an insurance claim for property damage and operational costs incurred. What though of a current more than 33% higher share price response?…

DeepMatter Group – “Business Update and Financing”. We did warn...

Previously writing on ‘digital chemistry data’ group DeepMatter (DMTR), in September with the shares at 1.35p I concluded that ‘I suggest it doesn’t have adequate resources and funding arrangements ‘choice’ for long and still currently bargepole/sell’. The shares last closed at 1.05p… and now a “Business Update and Financing”-titled announcement and the shares currently below 0.70p!

NFX
NFX

Nuformix – “delighted by the confidence shown by Lanstead”. Er...

“Subscription to raise £1.65 million”-titled announcement from pharmaceutical company Nuformix (NFX), with its Chairman Dr Alastair Riddell emphasising “delighted by the confidence shown by Lanstead in the future prospects of the company’s products… products address large market opportunities. Importantly, this enables us to hire experienced business development expertise to build on our licensing opportunities for these products to pharmaceutical companies”. So why are the shares currently, at 1.20p, more than 14% lower?…

ACT
ACT

Actual Experience – “year end trading update”. It mean likely revenue-decimating contract loss?...

Previously writing on experience of digital services analytics company Actual Experience (ACT), in January with the shares at 118.5p I questioned placing “to capitalise on the current market opportunity”… or to avert liquidity crunch ahoy?. Today it commences a year-end trading update with that its “first full year operating our professional services ‘land and expand’ model has seen good progress, faster customer engagement and quicker software deployment”… so why a current 29% share price fall to 40p?!…

IXI
IXI

IXICO – full-year results, ‘resilience built in’?

Biopharmaceutical data analytics company IXICO (IXI) has announced results for its year ended 30th September 2021 and the shares are currently more than 16% higher to 58.5p. However that compares to circa 84.5p when I previously wrote in October, so what’s the story now?…

FAB
FAB

Fusion Antibodies – interims, really “a strong all-round performance” and outlook confidence?

Antibody contract research organisation Fusion Antibodies (FAB) has announced results for its half-year ended 30th September 2021 emphasising “20% underlying growth in revenues over H1 FY2021… and in particular the two major contracts which were secured which, taken together with the remaining pipeline of projects with other customers, give the board confidence that revenues for the full year will be in line with current expectations”. However, what is the financial impact of the revenue and what are the full year expectations?…

EYE
EYE

Eagle Eye Solutions – “comfortably ahead of management expectations”… but what does that mean financially?...

Marketing technology group Eagle Eye Solutions (EYE) has announced “revenue growth of 35% in Q1 versus the prior year, an increase from the Q4 FY21 growth of 27%. As a result, the board now expects adjusted EBITDA for the full year ending 30 June 2022 to be comfortably ahead of management expectations”… and the shares have currently responded circa 5% higher towards 600p. How does the valuation look?…

IXI
IXI

IXICO – emphasises “ahead of market expectations”, but what does that mean financially and what’s to come?...

Biopharmaceutical data analytics company IXICO (IXI) has made a trading update including that year ended 30th September 2021 EBITDA is “expected to be materially ahead of market expectations of £1.2 million and prior year (2020: £1.3 million)”. Why then is the share price little changed at circa 84.5p?…

Directa Plus – ‘additional funds to accelerate strategic programme’, but what’s already in the price?...

Previously writing on graphene nanoplatelets-based products company Directa Plus (DCTA), in June I concluded with the shares at 121.5p, having expressed cash burn concern, I continued to avoid. Today an “Additional Italian Government Covid Recovery Loan” announcement.

MNO
MNO

Maestrano – results ‘reflecting success of move to international markets’? Er...

Maestrano (MNO) has announced results for its year ended 30th June 2021 and that it is “confident of continuing our current growth trend in FY22”. So why have the shares responded more than 5% further lower to 13.5p?…

CyanConnode – half-year trading update, is “pleased to provide” justified?

Describing itself as “a world leader in Narrowband Radio Frequency Smart Mesh Networks”, CyanConnode (CYAN) states it “is pleased to provide a trading update for the six months ended 30 September 2021”. The shares have currently responded up towards 13p, but are still down from the more than 16p reached last month.

Thruvision – argues “pleased” with first half trading update, but what about the balance sheet?...

Previously writing on self-styled “leading provider of ‘safe distance’ people-screening technology to the international security market” Thruvision (THRU), in April with the shares at 22.4p I concluded whilst there should still be business suitability to the operating environment, with financial performance still to prove, I continue to avoid. Today the group “is pleased to provide an update on trading for the six months ended 30 September 2021” but the shares are again lower towards 20p, so what’s going on?…

Windar Photonics – interims state “encouraging project pipeline”, so why the share price decline?...

Previously writing on Windar Photonics (WPHO), in December I concluded that I retained balance sheet concerns and still on the bargepole list. The shares rose significantly earlier this year but have since fallen significantly back again and are currently a further more than 11% lower, at 16p, on the back of half-year results the company argues show an “encouraging project pipeline”.

OSI
OSI

Osirium Technologies – interims, “good progress against our stated strategy”. Really?...

Osirium Technologies (OSI) has announced results for the first half of 2021, emphasising “good progress against our stated strategy… we are encouraged by the continued trading momentum as we enter the second half”. The shares have responded currently to 21.5p, 14% lower and a £6.3 million market cap, so what’s going on?…

XSG
XSG

Xeros Technology – interims, “significant milestones with a number of market launches taking place”? Er...

Previously writing on Xeros Technology Group (XSG), in July with the shares higher to 232.5p I concluded at that juncture still a jam tomorrow avoid / sell. The shares last closed at 200p and the group has today announced results for the first half of 2021, emphasising “significant milestones with a number of market launches taking place”. So why are the shares currently at 185.5p?…

Mirriad Advertising – interims note “advertising spending is now coming back”. Good news then… No!?

Previously writing on Mirriad Advertising (MIRI), in July despite the shares slumping to 34p I concluded the valuation looked to remain plain daft; strong bargepole / sell. The company has today announced results for the first half of 2021 headlined “New deals, significant inventory and record US commercial activity drive adoption”. Having last closed at 32.5p, the shares are now below 30p – so what’s the story?…

DeepMatter Group – interims, argues “adequate resources” but for how long?...

Previously writing on “international digital chemistry data company” DeepMatter (DMTR), in June as the shares fell below 2p I concluded the revenue and jam tomorrow outlook looked insufficient for the valuation. Today half-year results so, with the shares currently further lower to 1.35p, what now?…

Ten Lifestyle Group – trading update, is it ‘well positioned’ for anticipated travel & leisure pick up?

Ten Lifestyle Group (TENG“is pleased to announce a trading update ahead of its preliminary results for the year ended 31 August 2021”, with the announcement including that recent activity across many of its core service categories and supplier revenue has recovered to levels above the same period in 2019. The shares are though slightly down to 105p, and comparing to end-2019 134p, so is there value?…

TRX
TRX

Tissue Regenix – is it really “strong H1 results” & “a strong cash position” from this former Neil Woodford dog?

Tissue Regenix (TRX) has announced results for the first half of 2021 claiming “we have created a commercially focussed regenerative global medtech company in a high growth sector… encouraged by our strong H1 results” and that we “look forward to this being further built on in H2”. So why are the shares, at 0.675p, currently more than 4% lower?

Pelatro – “full confidence in meeting its revenue target”… but what is that & what does it mean financially?

Self-styled “precision marketing software” company Pelatro (PTRO) states it “is pleased to announce a trading update ahead of the release of the interim results for the six months ended 30 June 2021”. Hmmm – more than 2 months for even a half-year trading update? At least it includes “full confidence in meeting its revenue target for the year”…though what is that and what does it mean financially overall?…

Abingdon Health – “BioSURE COVID-19 IgG Antibody Self Test” share price rise justified?

“Launch of BioSURE COVID-19 IgG Antibody Self Test”-titled announcement from Abingdon Health (ABDX) – and the shares currently up nearly 50%, to 45.5p, in response. Does this look justified?…

Mirriad Advertising – trading update. Valuation bonkers?, You bet!...

Self-styled “leading in-content advertising company” Mirriad Advertising (MIRI) has made a half-year trading update including “we are effectively delivering our twin-track strategy by developing a robust global supply and demand pipeline to drive global adoption, while simultaneously moving the platform towards full integration with the media buying and ad delivery ecosystem… Total revenue increased by 27%… Closing cash at the end of June 2021 of £29.8m (June 2020: £14.4m)”. So why are the shares currently 34p, more than 19% lower in response?…

ITX
ITX

Itaconix – “pleased to report that growth in demand…has continued”. Er...

Previously writing on Woodford dog (oops, sorry) “a leading innovator in sustainable plant-based polymers used as essential ingredients in everyday consumer products”(!) Itaconix (ITX), I noted a “pleased to provide… update on its commercial progress and current trading” last month. Today a further “trading statement” – and the shares currently towards 8p, 25% lower in response!…

Attraqt – “pleased to provide” trading update. It sure?...

Self-styled “a leading provider of online search, merchandising and personalization solutions for ecommerce” Attraqt Group (ATQT) states that it “is pleased to provide” a trading update covering the six month period to 30th June 2021. How pleasing is it?…

KMK
KMK

Kromek – “well-placed to capitalise on the substantial opportunities”. Really?...

Kromek Group (KMK) has announced “new contracts and repeat orders across all of its target segments as commercial momentum continues to increase across the business”. Why then are the shares, heading towards 15p, currently more than 6% lower in response?…

CyanConnode – argues share incentive ‘restructuring’ “effective and simpler”. How about exorbitant and shameful?...

CyanConnode (CYAN) has announced that, “following a review of executive director rewards and incentives, the Remuneration Committee of the company determined that certain existing share options were no longer fit for purpose as an incentive and should be replaced in order to make incentive arrangements both effective and simpler”. So what are the “restructuring of Share incentive arrangements”?…

ESC
ESC

Escape Hunt – trading update, how “encouraging”?

Shares in “escape-the-room experiences” company Escape Hunt (ESC) remain ahead after my previous scepticism but are down today, further below 40p, despite a trading update including “revenue during the five-week period (to 20th June 2021) was 47 per cent. higher than in the same five-week period in 2019” and “estimated earnings before interest, tax, depreciation and amortisation at site level for the five weeks to 20 June 2021 was 310 per cent. of the site level EBITDA in the same five weeks in 2019”. So why the share price response?…

Live Company Group – “pleased to announce its audited results”. It sure?...

Live events and entertainment group Live Company (LVCG) states that is “is pleased to announce its audited results for the year ended 31 December 2020”. The shares have currently responded to 4.75p, down 9.5%!…

Directa Plus – “pleased… trading in line with market expectations”. What are those expectations though?...

Self-styled “a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets” Directa Plus (DCTA“is pleased to report that this strong revenue growth is continuing in the last two months of the current first half”. What does it mean financially?…

SNX
SNX

Synectics – trading update, customer activity & projects interest positives?

Previously writing on security and surveillance systems company Synectics (SNX), in April with the shares at 142.5p I concluded cautiously. What now of a trading update today, with the shares currently slightly further lower at 133.5p on the back of it?…

PCI Pal – ‘positive trading momentum has continued’… but the valuation?...

Payments software for business communications company PCI Pal (PCIP“is pleased to announce that the positive trading momentum since the end of Q3 has continued” and that it is “to accelerate the repayment schedule of its outstanding debt of £1.7 million”. What of the shares, currently up on the update to 92.5p, but down from approaching 120p last month?…

DeepMatter Group – 2020 results argue “extremely positive” opportunity. Er...

DeepMatter Group (DMTR), “the AIM-quoted company focusing on digitising chemistry, is pleased to announce its audited financial results for the year ended 31 December 2020”. The shares have currently responded to below 2p, er more than 7% lower, in response!…

Blue Prism – a “towards the lower end of the… guidance” global leader? Er...

Previously writing on self-styled “global leader in intelligent automation for the enterprise” Blue Prism Group (PRSM), in January with the shares down to around 1400p I concluded that the short interest remains understandable. The shares last closed at 1077p… and are currently further lower on the back of a “First half trading update”. So, what’s the latest?…

SAL
SAL

SpaceandPeople – “LandSec Contract Extension”, to recover quickly?

Manager of promotional and retail merchandising space SpaceandPeople (SAL“is delighted to announce that it has extended its commercialisation agreement with Land Securities Properties Limited for the provision of experiential activity and short-term retailing until 2026”. With the shares, at 10p, capitalising the company at £1.95 million, what’s the financial import?…

Thruvision Group – update includes “Profit Protection sub-sector performed strongly”, BUT...

Previously writing on self-styled “leading provider of “safe distance” people-screening technology to the international security market” Thruvision Group (THRU), in October with the shares rising to above 28p I concluded that whilst there should be some suitability to the current environment, the update also includes the company’s aviation sector “badly affected”. With also a more than £40 million market cap, I currently avoid. The shares last closed at 23.5p… and today a “Pre-Close Statement”…

SAL
SAL

SpaceandPeople – “optimistic… will recover quickly”, so why further share price decline?...

Previously writing on manager of promotional and retail merchandising space SpaceandPeople (SAL), in December I questioned prestigious property wins significant opportunity… or ramptastic?. Today a “Trading update” including “given the level of enquiries and proposals the group is currently seeing, the board is optimistic that SpaceandPeople will recover quickly, both in terms of the group’s pre-existing portfolio of venues and the new venues added to the portfolio”. So why are the shares currently, at 9p, a further 10% lower?…

4imprint – full-year results, to capitalise on recovering markets?

Previously writing on promotional products group 4imprint (FOUR), in August I noted the half-year performance and outlook saw the shares falling back having reached around 2600p – and that I continued to avoid. They commenced today at 2690p but are now sliding back on a full-year results announcement…

MOS
MOS

Mobile Streams – interims ‘see growth for 2021’, it had certainly better hope so!...

Previously writing on “mobile content and data intelligence company” Mobile Streams (MOS), in December I questioned announcements to really be “delighted” & “pleased” with?. Today it is “pleased to announce” half-year results… but the shares are currently back down to 0.24p, so what’s the reality?…

Hollywood Bowl – less than 3 months after emphasising “strong balance sheet”, discounted placing?...

The 14th December 2020-announced results from ten-pin bowling group Hollywood Bowl (BOWL) emphasised “strong balance sheet… liquidity of £31.8m” and included that “the directors are satisfied that the group has adequate resources to continue in operation for the foreseeable future, a period of at least 12 months from the date of this report”. It now announces “successful completion of the placing… at a price of 230 pence per placing share, raising gross proceeds of approximately £30.0 million”. Hmmm…

OSI
OSI

Osirium Technologies – “NHS Trust Customer Wins” share price rise justified?

Self-styled “a leading vendor of cybersecurity software” Osirium Technologies (OSI“is pleased to report nine new NHS trust customers since the beginning of February”. Is a current 6.5% share price rise to 24.5p on the back of the announcement justified?…

SmartSpace Software – trading update, “investors can now clearly see the potential of SmartSpace”… they can’t!

SmartSpace Software (SMRT) has made a trading update for its year ended 31st January 2021 including emphasising SaaS revenues up by 73% year-on-year and annual recurring revenue +60% along with “there are frequent articles in the media on Covid-safe workplaces, hybrid working and returning to the office and this is reflected in our sales enquiries as we offer solutions to help our clients manage this transition”. So why are the shares currently around 130p, 6% lower?…

XSG
XSG
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Xeros Technology – fundraising (again!), how ‘pleasing’ really is it from this Woodford dog?...

Xeros Technology Group (XSG“is pleased to announce… the company has conditionally raised gross proceeds of approximately £8.0 million, through the successful placing of 3,333,333 placing shares” and that it “intends to provide… up to 416,586 open offer shares”. Just how ‘pleasing’ really is this though?…

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IGE
IGE

Image Scan Holdings – I having previously cautioned on swing to profit, now a trading update...

Previously writing on security and industrial inspection X-ray systems company Image Scan Holdings (IGE), I noted the shares up towards 2.5p on the back of a results announcement but that the outlook suggested to avoid. The shares have since, briefly, exceeded 3p and last closed at 2.75p before today a trading statement…

Location Sciences Group – hopefully warnings here were heeded. Shares slump with “business review” now needed...

Previously writing on self-styled “leading location data insight and verification company” Location Sciences (LSAI), last year I concluded, despite the shares already significantly lower than a prior just below 1.5p, that it remains cash burn concern and on the bargepole list. Today “Trading Update and Directorate Changes”. An ominous combination?…

Biome Technologies – emphasises bioplastics “strong annual revenue growth”… so why share price decline?...

A trading update from Biome Technologies (BIOM) includes “strong annual revenue growth of 65% in the Bioplastics”. So why are the shares in response, at around 210p, more than 4.5% lower?…

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Blue Prism Group – full-year results, again states “strong cash performance”. Er...

Self-styled “global leader in intelligent automation for the enterprise” Blue Prism Group (PRSM) has announced results for its year ended 31st October 2020 with Chairman and CEO (hmmm) Jason Kingdon emphasising “we are building a global software company and have made a great deal of progress in the year”. The shares have currently responded to around 1400p, circa 25% lower!…

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HSW
HSW
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Hostelworld – trading “as anticipated”… so why is the share price recovery further slipping?

Hostel market-focused online travel group Hostelworld (HSW) has updated on trading including that travel demand remained muted throughout Q4 2020 with ongoing travel restrictions. Although that was “as anticipated”, the shares, already down from more than 85p recovered to in November, are currently further lower towards 76p…

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DeepVerge – maiden Q4 profit?, £10m in 2021?. Er, nope on both counts...

An announcement from DeepVerge (DVRG) headed DVRG confirms maiden Q4 profit;guides £10m in 2021”. With the shares currently moving ahead on the back of this to 36p, the market cap is approaching £60 million. So value? Er, nope…

MAB
MAB
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Mitchells & Butlers – “prudent to explore an equity capital raise”… or a ‘keep-the-lights-on’ necessity?

“First Quarter Trading Update” from restaurants and pubs company Mitchells & Butlers (MAB) includes that it currently has cash balances on hand of £125 million and that Chief Executive Phil Urban has “every confidence that we can emerge in a strong competitive position once the current restrictions on us are lifted”. So why a current 7% lower share price response, to around 220p?…

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WANdisco – trading update... though what does the bottom-line look like & what are the “board's expectations”?

“Trading and business update” from ‘LiveData’ technology company WANdisco (WAND) emphasises that it “expects to report preliminary revenue for FY20 of at least $10.5m” and that an “expanding new business pipeline supports board expectations for FY21”… but what are those expectations and with revenue, of course, vanity, what does the bottom-line look like?…

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Microsaic Systems – statement following recent share price increase. Any sale progress?, Er...

On 22nd December Microsaic Systems (MSYS) announced that it had appointed KRE Corporate Recovery “to explore other remaining options to maximise value for creditors and potentially other stakeholders”. It was “other remaining options” as a formal sale process had failed – and the shares fell back. However, they have recently significantly recovered and now a further statement from the company has been required…

SCE
SCE

Surface Transforms – shares up on “Trading, OEM Pipeline & Operations Update”. Good news then?...

“Trading, OEM Pipeline & Operations Update” announcement from manufacturer of carbon fibre reinforced ceramic automotive brake discs Surface Transforms (SCE) – and the shares currently 4% higher at 53p, capitalising the company at over £82 million. Good news then?…

Ironveld – a 'no one watching o’clock' day results announcement. Uh oh...

Ironveld (IRON) has today announced results for its year ended 30th June 2020, concluding “we look forward to providing further updates in the near future”. Hmmm – releasing results on largely ‘no one watching o’clock’ days such as those this week doesn’t tend to mean good news…

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Microsaic Systems – after formal sale process failure… it is very possibly toast

Shares in Microsaic Systems (MSYS) are down by 60% today. Mr Market is showing Christmas generosity, this stock is still anywhere between 60% and 100% too high…

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RTN
RTN
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The Restaurant Group – argues “well positioned to benefit from a sustained removal of restrictions”. Really?...

“Further Covid-19 update” from WagamamaFrankie & Benny’s and Brunning & Price owner The Restaurant Group (RTN) commencing, “Through a range of decisive management actions, cash-burn during the November national lockdown was minimised to c. £5.5m for the month”. Is a current 7% lower share price response, to below 63p, justified?…

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CyanConnode – argues “very encouraged by the success”… but what about the balance sheet?

Self-styled “a world leader in narrowband radio frequency mesh networks” CyanConnode (CYAN) has announced results for its half-year ended 30th September 2020 and that “the board is very encouraged by the success of all CyanConnode’s deployments, and is especially pleased to see the progress being made against contracts in India and Thailand during the period” – and the shares have currently responded higher, to 5.05p. However, with the shares above 6p, I previously questioned that the company argues loan “for working capital to fund growth”, what about for keeping the lights on? What do the results now show?…

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Tungsten Corp – interims argue “well placed to capitalise on the opportunities being presented”. Really?...

Tungsten Corp (TUNG) has announced results for its half year ended 31st October 2020. Do they support it being, self-styled, “a leading global electronic invoicing and purchase order transactions network”?…

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CNS
CNS

Corero Network Security – argues order intake “positive progression”, but is there really “solid foundations”?

Corero Network Security (CNS) has made an “Order Intake” update, emphasising “positive progression… reflected in the associated order intake of more than $3 million in the first two months of the final quarter of 2020” – and the shares have currently responded to 9.5p, more than 15% higher. Does this look justified?…

ACT
ACT

Actual Experience plc – “delighted to announce… new channel partner”, but how’s the balance sheet looking?...

Actual Experience (ACT) is “delighted to announce” a three-year framework agreement with “an American based multinational computer technology company” for its new Human Experience Management offerings… and the shares have currently responded towards 120p, more than 5% further higher…

XSG
XSG

Xeros Technology – Woodford dog argues “an important step” order. Is it?...

A couple of announcements today from one of the many AIM dogs of Neil Woodford, Xeros Technology Group (XSG) – and the shares currently continuing something of a recent recovery…

RBG
RBG

Revolution Bars – with government “often illogical, inappropriate and disproportionate response to the coronavirus pandemic”...

Revolution Bars Group (RBG) has updated the markets with news including that a CVA successfully approved” – and the shares have responded to 17.2p, a £21.5 million market cap, 7.5% higher…

PCI Pal – “close the gap towards our first months of cash generation and profitability”… how swiftly?

“Cloud provider of secure payment solutions”, PCI Pal (PCIP) has updated including “first quarter revenues are 44% ahead of the comparative period last year” and the shares have currently responded to 46.5p, more than 16% higher…

QUIZ plc – results, company still confident in its brand strength?

Fashion retailer QUIZ plc (QUIZ) has announced results and “looking ahead, we remain confident in the strength of our brand”. At a little changed 7.2p share price, the market cap is though currently below £9 million…

EUA
EUA
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Eurasia Mining – “no new developments… beyond… interim results” (of an attempted no-one watching o’clock)...

From sub 20p at the start of this month, shares in Eurasia Mining (EUA) last closed at 37p – and today a “Statement re Share Price Movement”…

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BigDish – “pleased to announce a Strategy and Operational Update”. You sure, Zak?...

“BigDish Plc (LON: DISH), a technology and software solutions company currently specialising in the food technology space, is pleased to announce a Strategy and Operational Update”. But this latest spin from its “Digital Communications Officer”, a certain Zak Mir, presently sees the shares at 1.4p, 12.5% lower…

KMK
KMK

Kromek – full-year results include “business patterns now returning to normal”, BUT...

Medical, security screening and nuclear markets-focused detection technology group Kromek (KMK) has announced results for its year ended 30th April 2020 including “solid progress was made in the early part of the year with Kromek reporting record H1 2019/2020 revenues” and “business patterns now returning to normal”… and the shares have responded to 8p, more than 20% lower…

SCE
SCE

Surface Transforms – argues “pleased to announce” results… but what about the underlying cash burn?

Writing earlier this month with the shares then having soared to 47p, I reviewed Surface Transforms (SCE“truly game changing” contract award. Is it?, & how’s the current financial position?. Now “pleased to announce” results for the first half of 2020…

PCI Pal – full-year results, how’s that cash burn?...

Previously writing on ‘cardholder not present’ payments technology company PCI Pal (PCIP), in July with the shares up above 40p I concluded whilst the cash has since been topped up, the rate of burn still concerns and remains key to monitor. As such, despite the top-line growth, I currently continue to avoid. Now the company argues “pleased to announce full year results for the year ended 30 June 2020”…

EUZ
EUZ
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Europa Metals – as Gary Newman recently warned… discounted placing screwing...

Shares in Europa Metals (EUZ) are currently at 13.5p, down more than 18% on the day – and you were warned on this website that this was coming by Gary Newman…

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Bidstack – interims argue “healthy cash position” & “making material progress”. Er...

Bidstack Group (BIDS) has updated including emphasising “following our oversubscribed placing in June 2020, Bidstack has a healthy cash position and is making material progress in its approach to building a strong foundation on which to grow and create value for shareholders”. Hmmm – “healthy cash position” and “making material progress” hey?…

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Pelatro – a “pleased to announce” fundraising, why the discount?...

“Pelatro Plc (AIM: PTRO), the telecom Customer Engagement software specialist, is pleased to announce a Placing and Subscription to raise £2.1 million (before expenses)”… and the shares have currently responded more than 10% lower…

This Aim Minnow Is Picked by the NHS to Boost Hospital Communication but the Share Price Doesn't Yet Seem to Show It

Hello, Share Prompters. A medical venture I’ve invested in for years and which has usually disappointed is Feedback plc (FDBK). It always appears to me to have huge potential that doesn’t seem to have been followed through. Perhaps the company needs more marketing skills. Any road up, it’s just had some good news that the share price seems yet to have fully reflected…

PHC
PHC

Plant Health Care – argues revenue growth “strong performance”, BUT...

Plant Health Care (PHC) has updated emphasising “the company’s revenue growth in the first half of 2020 is a strong performance, which demonstrates the merits of exposure to agriculture, as an essential industry” and “Covid-19 has had limited impact on the business to date”. The shares though are currently still at 9.625p, down from 15p+ in February…

Immotion – trading update, how’s the previously argued “winning formula” looking?

Previously writing on ‘provider of ‘Out of Home’ virtual reality experiences’ Immotion Group (IMMO), I concluded in September I suggest “a winning formula” is still very much to be proven here – and currently continue to avoid. That was with the shares at 6.75p. They are currently at 2.725p… but that represents a more than 40% rise on the day following a “pleased to report” trading update…

Location Sciences Group – trading update, a “pre-eminent global location verification provider”?...

Previously writing on self-styled “the pre-eminent global location verification provider to the $160 billion digital advertising industry” Location Sciences Group (LSAI), in February with the shares having fallen below 1.5p I concluded cash burn concern and an around £6 million market cap see this currently remain on the bargepole list. The shares last closed at 0.475p and now a “Trading Update”…

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Bidstack trading update highlights continuing high cash burn and limited revenue

The Bidstack (BIDS) saga is one which I have watched unfold but have made little comment on myself, other than thinking that the valuation that it reached was bonkers and writing as much in an article on ShareProphets last May.

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KRM
KRM

KRM22 – outlook “continues to be positive”… or not?

Risk management technology for capital markets-focused KRM22 (KRM) has updated including “progress has been made with two new customer wins and cost and debt reduction” and that it “continues to have a strong pipeline of opportunities and is progressing well through the procurement process with two further tier one banks which the company expects will close in the second half of the year”. The shares have currently responded to 28p… approaching 14% lower!...

PTD
PTD

Pittards – argues “managed the impact on cash” & “signs of recovery”… so why further share price decline?...

“Pittards plc (AIM: PTD), the AIM listed manufacturer of specialty leather, announces a new loan and trading update” – and the shares have currently responded to 39p, more than 6% lower...

SCE
SCE

Surface Transforms – argues “remains on track”… but what about, for example, January 2012?...

Surface Transforms (SCE) has updated including “despite the impact of COVID-19… revenue for the six-month period grew 55%… Cash at 30 June was £2,018k (December 2019: £770k) to which can be added the R&D tax credit, in excess of £300k, expected in September” – and the shares have currently responded to 27p, approaching 4% higher...

XAR
XAR

Xaar – ‘pleasing progress’ with turnaround strategy?...

Inkjet printing technology company Xaar (XAR) has updated including it “is pleased to announce that trading for the six months ending 30 June 2020 has been in line with expectations and good progress has been made implementing our strategy” and “the short-term order book is healthy… the market opportunity remains significant” – and the shares have currently responded back above 60p, more than 10% higher...

PCI Pal – “remain confident of delivering significant year on year growth”… so why a muted share price response?

‘Cardholder not present’ payments technology provider PCI Pal (PCIP) has updated that for its year ended 30th June 2020 it expects to report revenue 55% increased on the prior year and “we remain confident of delivering significant year on year growth in FY21”. The shares have responded slightly higher above 40p, but remain well below 50p+ previously reached...

DPP
DPP

DP Poland – AGM trading update, “in a relatively good position”?

Exclusive rights holder to develop, operate and sub-franchise Domino's Pizza stores in Poland, DP Poland (DPP) has updated including “we have been able to keep open all our stores and our 2 commissaries operating without interruption… a reduction in our food and labour costs and in some of our rent costs… According to EU forecasts, Polish GDP will shrink by 4.3 per cent. in 2020 and this will be the smallest expected drop among all EU countries, Bloomberg noted”. The shares are though currently at 7.25p, approaching 5% lower...

VLS
VLS

Velocys… and there’s the necessary fundraising – at a massive discount (natch & as warned here)...

Previously writing on Velocys (VLS), last week I noted a “Trading Statement” speeding ticket with the shares falling towards 13p though still concluding since the share price compares to below 3p little more than a month ago – was the company forced to make the statement? Still however ‘opportunity’ for a necessary fundraising? – at a discount (natch) with a currently still more than £84 million market cap. Bargepole / sell. Now this ‘sustainable fuels’ technology company “is pleased to announce that… it has raised gross proceeds of £20 million… accelerates our ability to provide commercial scale turn-key solutions”...

VLS
VLS

Velocys – a “Trading Statement” speeding ticket...

Velocys (VLS) has updated including of “implementing procedures which have allowed the company to operate close to ‘Business as usual’ during this period. Progress has been made on all aspects of the business and all critical milestones have been met… now within reach of being able to offer a tangible solution to support decarbonisation of air travel”. The shares have currently responded towards 13p, more than 10% lower!...

ANG
ANG

Angling Direct – a “delighted with the strong support” placing you say?!...

Having been trying to emphasise “positive trends… namely encouraging levels of trade across the company's webstores in both the UK and international markets”, now from Angling Direct (ANG) a “delighted with the strong support… raised gross proceeds of £5.50 million through a placing”...

WTB
WTB
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Do I pony up for more Whitbread stock?

Normally a preliminary results announcement would be of the uppermost interest when thinking about the daily newsflow grind around a FTSE-100 company. However, for Whitbread (WTB) today its own preliminary update is superseded by a rights issue announcement from the owner/operator of the Premier Inn franchise. A rights issue! In the current era of placings, it felt like a blast from the past to have a table showing the indicative timing of events...

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Mirriad Advertising – 2019 more than £12m loss… so a pay rise as well as LTIP awards, natch!...

I recently wrote on Mirriad Advertising (MIRI) “Executive LTIP award”… Er, what for?!. The “computer vision and AI platform company” - which argues its “award-winning solution unleashes new revenue for content producers and distributors by creating new advertising inventory in content” - has now produced its 2019 annual report and accounts...

Mirriad Advertising – “Executive LTIP award”… Er, what for?!

I earlier argued “Proposed Share Option Regrant” disgrace from Corero Network Security and also now note from Mirriad Advertising (MIRI) “Executive LTIP award, Director and PDMR dealings”...

Superdry – “Ecommerce revenues nearly doubling in the last 4 weeks” BUT…

“Trading Statement” from fashion retailer Superdry (SDRY), with CEO Julian Dunkerton concluding “we remain open for business online through superdry.com, our stores in Europe have begun to reopen and I am excited by our new ranges for the Autumn/Winter season” – and the shares have currently responded to circa 125p, more than 5% higher...

Smartspace Software – updates including “a noticeable increase in new customer enquiries, trials and customer sign-ups” BUT...

Smartspace Software (SMRT) has updated including noting “a noticeable increase in new customer enquiries, trials and customer sign-ups… The board is of the belief that other countries and Governments, when easing their own Lockdowns, could follow similar directives, opening up further new customer enquiries for SwipedOn”...

SAL
SAL

SpaceandPeople – dividend canned, shares tanking but still a sell

Previously writing on ‘retail, promotional and brand experience’ company SpaceandPeople (SAL), last month I reviewed some trading & dividend growth… so why further share price decline? – that to 11.25p. The shares are currently sliding below 5p, following “Notice of Results Update & Dividend Cancellation” and “Appointment of Executive Director” announcements…

Microsaic Systems – 2019 results & prospective fundraise “in light of… progress to date, and the planned expansion of the product portfolio”. Really?!...

“Microsaic Systems plc (AIM: MSYS), the developer of point of need mass spectrometry instruments, is pleased to announce its audited financial results for the year ended 31 December 2019”. The shares have currently responded to 0.80p – 20% lower!…

Microsaic Systems – I wonder why it’s “pleased to announce” a new broker appointment “with immediate effect”...

Microsaic Systems (MSYS) “is pleased to announce the appointment of WH Ireland Limited as Joint Broker with immediate effect, alongside N+1Singer as Nominated Adviser and Joint Broker”. Hmmm – I wonder why?...

Location Sciences Group – noted “market speculation” even the reason for recent “share price movement”?...

Location Sciences Group (LSAI) reckons it “has noted the recent downward movement in its share price and market speculation surrounding the launch of Android 11 later in 2020” – the shares having been down from 1.85p on Monday to a low of 1.425p today – though also having closed at 1.225p during just last month!…

Microsaic Systems – “Global collaboration agreement” ramptastic, cash burn concerns?

Previously writing on developer of mass spectrometry instruments Microsaic Systems (MSYS) it was with the company arguing “encouraged with the progress made in the first half” but the shares down to 1.15p. They have since fallen further and today a “Global collaboration agreement with Axcend Corp”

PCI-PAL – argues “pleased with the strong performance against key metrics”. Er, what about currently THE key metric here; cash?

Payments technology company PCI-PAL (PCIP) has updated including that it “is pleased with the strong performance against key metrics in the first half of the year (to 31st December 2019), in particular the growth in revenue… is confident that we will continue the momentum built in the first half against key metrics and that the company's strategy and market positioning means it is well placed to continue the progress made in the last 12 months”. The shares have currently responded higher to 43.5p – though still comparing to more than 78p reached in early 2018…

TRX
TRX

Tissue Regenix – a “pleased to confirm” re. cyber security incident, but still what about the balance sheet of this Woodford pick?

Shares in ‘regenerative medical devices’ group Tissue Regenix (TRX) are currently approaching 20% higher on the day, at around 1.20p, on the back of an update including “it is anticipated that delayed orders will be dispatched over the coming weeks… All processing in the company's United States facility has also resumed with immediate effect”

SAL
SAL

SpaceandPeople – some trading & dividend growth… so why further share price decline?

SpaceandPeople (SAL) has updated commencing “trading during the final quarter of 2019 was stronger than anticipated in the promotions divisions” and “a multi-year agreement has been signed with Abellio to provide commercialisation activity in the Greater Anglia and West Midlands rail regions… Also, the Network Rail agreement that was due to expire in September 2020 has been extended by a further year”. The shares are currently at 11.25p – more than 6% lower on the day. Hmmm…

FAB
FAB

Fusion Antibodies – emphasises “strong revenue performance”… what about cash burn?

Previously I’ve cautioned on shares in “specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications”, Fusion Antibodies (FAB). They have recently though again been rising – and today a “Trading update”

Accesso Technology – “the premier technology solutions provider”… trying to fool you or fooling itself?

Shares in self-styled “the premier technology solutions provider to leisure, entertainment, hospitality, attractions and cultural markets”, accesso Technology Group (ASCO) were already down from circa 3000p reached in 2018 and more than 1000p as recently as August to 445p – but are currently down further to around 350p on the back of “End of Formal Sale Process and Trading Update” and “Intended Changes to Board Composition” announcements…

TRX
TRX

Tissue Regenix – “Trading Update” from this former Woodford pick, so natch…

“Trading Update” from Woodford stock Tissue Regenix (TRX) – and the shares currently around 1.40p, down (natch!) approaching 20%...

Audioboom – emphasises “revenue growth” & “EBITDA improvement”. Er… what about cash flow & the balance sheet?

“Audioboom (AIM: BOOM), the leading global podcast company, is pleased to provide an unaudited trading update for the 12 months ended 31 December 2019” – with it emphasising “91% revenue growth and significant year-on-year EBITDA improvement”. The shares have though currently responded to 237.5p – a few percent lower...

XAR
XAR

Xaar – “broadly in line with the first half”… what was that like though, again?!...

“Trading Statement” from Xaar (XAR) commencing; “Xaar plc, a world leader in industrial inkjet technology, provides its scheduled trading update: Trading in the second half of 2019 was broadly in line with the first half”. The shares have responded to a current 47p – more than 6.5% lower…

Quiz plc – having been look forward to building upon ‘pleasing’ Black Friday week sales...

Previously writing on “occasion wear and dressy casual wear”-specialising Quiz plc (QUIZ), last month I concluded the overall update doesn’t provide great confidence… little to change my prior bearish view here. Now a “Christmas Trading Update”

ITX
ITX

Itaconix – “Trading Update”… but why doesn’t it detail the loss & cash burn from this Woodford “leading innovator”?

Itaconix (ITX) states it is “pleased to announce” a trading update for the 2019 calendar year and CEO John R. Shaw that “the acceleration in our revenue growth reflects growing commercial validation and consistent progress with customer projects across all of our products and application areas… our pipeline continues to strengthen as we maintain our focus on accelerating key revenue opportunities in the first half of 2020”. The shares have currently responded to 1.55p – er, 6% lower…

ITX
ITX

Itaconix – argues significant milestones… but beware of what’s another of Neil Woodford’s ‘leading innovators’…

Former Woodford pick, Itaconix (ITX) has followed a “First order to Croda for new odour control polymer” announcement yesterday with a now “New patent issued for detergent compositions” and these have helped the shares up from a prior 1.525p to currently around 1.7p – although down (natch, for a recent years Woodford pick), for example, from more than 4p at the commencement of 2019 and approaching 16p at the commencement of 2018…

CMH
CMH

Chamberlin – do contract awards justify the current approaching 90% share price rise?

Shares in specialist castings and engineering group, Chamberlin (CMH) are currently approaching 90% higher on the day, at more than 40p, on the back of two “Contract award” announcements…

TMO
TMO

Time Out Group – former Woodford pick argues trading ‘encouragement’… but it’s an EBITDA warning…

Time Out Group (TMO) commences a trading update with that it “is encouraged by the early trading of the five sites opened in 2019” and concludes that it “remains on track to reach the key milestone of profitability in 2020”. The shares are though currently below 125p – a few percent lower on the back of today’s update…

Quiz plc – some “pleasing progress” & “continued to generate cash”, really?...

‘Omni-channel fast fashion brand’ Quiz plc (QUIZ) has announced results for its half-year ended 30th September 2019, noting “pleasing progress in its online and international channels… the group has continued to generate cash and had £7.2m of cash at the period end”. The shares have though responded lower – towards 15p…

TRX
TRX

Tissue Regenix – “very pleased” lender has “shown their support for the company”. Really?!...

Earlier this week I noted on Tissue Regenix (TRX) a further nightmare for shareholders including (natch) Neil Woodford investors – that with the company set to fail a financial covenant test and thus having to discuss with a weak hand - with also its latest results having shown it heavily loss-making with net cash down to £4.3 million - with loan facility provider MidCap Financial Trust. Now though Executive Chairman John Samuel reckons he’s “very pleased that Midcap have shown their support for the company by entering this revised agreement” – and the shares have responded further higher above 1p…

SLN
SLN
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Silence Therapeutics – how’s “transformational deal” partner? Red flags really fluttering?

Having as recently as June been sub 50p, shares in self-styled “a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases” Silence Therapeutics (SLN) spiked above 100p in July on the back of announcements of a collaboration with, and investment from, Mallinckrodt (NYSE - MNK). The shares have in the last month sparked significantly further – to a current near 400p, giving a more than £300 million market cap. However…

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CPX
CPX

CAP-XX – “a successful year for the company”… or that more CrAP? (XX)…

Previously writing on self-styled “world leader in the design and manufacture of supercapacitors and energy management systems” CAP-XX (CPX), in June with the shares at around 4p I noted argues “increasing confidence”, but what about that cash burn?. The shares are currently below 4p today on the back of results for the company’s year ended 30th June 2019 – and despite CEO Anthony Kongats emphasising “it has been a very busy year, and ultimately a successful year for the company”. Hmmm…

KRM
KRM

KRM22 – “placing… to provide the company with additional working capital”... Or not?...

“KRM22 plc (AIM: KRM.L), the technology and software investment company, is pleased to announce that it has conditionally raised gross proceeds of approximately £1.0 million through a placing of 1,895,765 new ordinary shares… at a price of 52 pence per ordinary share”. Hmmm – having only joined AIM at 100p per share little more than 18 months ago and the shares last closing at 54.5p, it really “pleased to announce” this?!...

TWD
TWD

Trackwise Designs – another “pleased to announce” appointment of a new nomad and broker… now why might that be?

Following 21st Century Technology (C21) noted earlier, printed circuit technology products company Trackwise Designs (TWD) has also announced the appointment of a new nominated adviser and broker – this following half-year results last month…

TRX
TRX

Tissue Regenix – the nightmare continues for Neil Woodford investors!

The 10th September-announced half-year results from “regenerative medical devices” group Tissue Regenix (TRX) included “we anticipated that the year would be significantly weighted towards the second half, as announced on the 4 June… We continue to expect that this will be the case… demand for our products is strong”. Now a “Trading Update”

Nanoco – full-year results… what exactly is it “pleased to announce”?

“Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, is pleased to announce its Preliminary Results for the year ended 31 July 2019”. Hmmm – the shares are down from approaching 50p towards the start of the period and more than 40p as recently as May… to a current just above 10p!...

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Yourgene Health – half-year trading update boosts shares… looks much more to come

Yourgene Health (YGEN) states it “provides a positive trading update for the six months to 30 September 2019” – and the shares have currently nudged higher towards 12p, to capitalise the company at circa £70 million…

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PCI-PAL – results statement suggests the company’s future is not greatly foreseeable…

“PCI-PAL PLC (AIM: PCIP), the customer engagement specialist that secures and protects payment card data for companies handling payments by phone, is pleased to announce full year results for the year ended 30 June 2019” – and the announcement includes “the new financial year has started well… PCI Pal is well positioned to build on this year's success”. The shares have currently nudged ahead to 27.5p – but remain down from 36p reached in the summer and more than 78p in early 2018…

SRT
SRT

SRT Marine Systems – “pleased… remain comfortable with market expectations”. Er, what are the expectations though?!...

SRT Marine Systems (SRT) “is pleased to provide a trading update for the six months trading period ended 30th September 2019” – it includes “forecast half year loss before tax of £1.5m compared to £1.3m for the same period last year”, though “we remain comfortable with market expectations”. What are these expectations then?...

Immotion – “pleased to announce agreements for three further installs” & interims argue “a winning formula”, but…

“Immotion Group PLC (AIM: IMMO.L), the provider of 'Out of Home' virtual reality experiences, is pleased to announce its interim results for the six months to 30 June 2019” and also “agreements for three further installs in its fast growing Aquarium sector”. However, a current 6.75p share price compares to a 10p IPO little more than a year ago…

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KEFI Minerals – interims & looking ahead to “a very exciting period”…

KEFI Minerals (KEFI) has announced results for the first half of 2019 and that “the remainder of 2019 is expected to be a very exciting period for the company and we look forward to providing regular updates as matters progress”

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DPP
DPP

DP Poland – interims, ‘growing well’? Er…

The company with the exclusive right to develop, operate and sub-franchise Domino's Pizza stores in Poland, DP Poland (DPP) has announced results for the first half of 2019 emphasising “system sales up 10%, like-for-likes returning positive from March and more sub-franchisees in place… Appointment of General Manager in Poland”. The shares have responded towards 5.5p – er, another few percent lower…

Microsaic Systems – argues “encouraged with the progress made in the first half”… so why are the shares slumping?

“Microsaic Systems plc (AIM: MSYS), the developer of point of need mass spectrometry instruments, is pleased to announce its unaudited interim results for the six months ended 30 June 2019”. The shares have currently responded to 1.15p – er, more than 25% lower!...

accesso Technology – interims, argues “a solid performance”. Really?...

Self-styled “premier technology solutions provider to leisure, entertainment and cultural markets” accesso Technology (ACSO) has announced results for the first half of 2019 emphasising “a solid performance” and “important progress on its long-term strategy to integrate its offerings to uniquely position itself to take advantage of a $3.4bn addressable market, driven by a market shift toward the integrated guest experience and leveraging data to improve business outcomes for customers”. The shares have currently responded towards 800p – er, that’s approaching 12% lower!…

XAR
XAR

Xaar – why “pleased to announce” a deal including granting an option on “an attractive business with the potential for significant value realisation in the future”?

“Proposed investment by Stratasys in Xaar 3D” announcement from Xaar (XAR) – with CEO Doug Edwards “pleased that this transaction will create good value for Xaar shareholders and unlocks the ability for more significant value in due course”

Location Sciences – following questioning if “expansion of the US team and increased investment in business development” will mitigate…

Location Sciences Group (LSAI) has followed “extremely pleased” with the appointment of Michael Iantosca to its advisory panel with “together with Blis, we are taking the lead globally in terms of bringing transparency to location data”. Oooh – global lead, hey…

Quiz plc – AGM Trading Update, can it return to sustainable profitable growth?

An “AGM trading update” from fast fashion retailer Quiz plc (QUIZ) includes that it “has continued to benefit from sales growth through QUIZ's own websites” and “the board continues to believe that, through the strength of QUIZ's flexible business model and increasing online focus, the group can return to sustainable profitable growth in the medium term”. The shares have responded to a current circa 17p – around 8% lower…

XAR
XAR

Xaar – “Trading update & revised date for interim results”. Uh oh…

Previously writing on digital inkjet technology company Xaar (XAR), in March with the shares sliding below 115p I concluded the cash burn and current clear trading challenges see me note that “strong portfolio” still very much has to be proven – and to currently retain a stance of avoid. That was with the company having updated including “we are confident that the transformation we are undergoing will lead us to become a more diversified and customer-centric organisation, with an appropriate balance between established and developing technologies. We remain focused on delivering the benefits of our strong portfolio and technology advantages to shareholders”. Today a “Trading update & revised date for interim results”. Doesn’t sound encouraging!...

OSI
OSI

Osirium Technologies – “pleased to announce” first customer for Opus… but cash position very much less pleasing?

Osirium Technologies (OSI) “is pleased to announce the first customer for its new innovative privileged robotic process automation solution, Opus, which was launched in May of this year” and that Opus “is generating interest across DevOps, NetOps and outside IT in business teams”. The shares though are unchanged at 59.5p. Hmmm…

Starcom – interims, “confident” H2 “will show an improvement over the second half of 2018”… but what will even that mean?

Remote wireless technology company Starcom (STAR) has announced results for the first half of 2019 including “initial orders for the new Lokies smart padlock are encouraging and we have high expectations for this new product” and that it “is confident that the full year results will be in line with current market expectations in terms of revenue growth and that the company will achieve a positive EBITDA result for the year”. The shares have responded… further lower, to 1.1p…

DeepMatter Group – emphasises DigitalGlassware deal “a key milestone”… so how much is it worth?

DeepMatter Group (DMTR) is “delighted that o2h has progressed from our Pioneer Programme to deploying DigitalGlassware™ across one of its laboratories”. The shares have currently responded to 2.8p – er, approaching 10% lower…

Feedback plc – “working on completing a placing… in order to develop Bleepa”. It mean ‘in order to keep the lights on’?

“Statement re Online Commentary” from Feedback plc (FDBK) which “confirms that, in order to develop BleepaTM, the company's clinical messaging product, it is currently working on completing a placing of new shares”

Immotion – from July 2018 IPO “to become a leading participant in the 'Out of Home' VR experience market” to July 2019…

Immotion (IMMO) has announced “following the success of its recent VR installations into a range of high quality partners, that it has decided to focus its strategy predominantly on the roll out of its Partnership Model into high footfall locations. The visibility of higher margins and recurring revenues delivered from this model is, the directors believe, the best strategy for the group and its shareholders. To support this strategy, the company is carrying out a fundraising”

DPP
DPP

DP Poland – argues trading “momentum return”… but again what does it mean financially?

Previously writing on the company with the exclusive right to develop, operate and sub-franchise Domino's Pizza stores in Poland, DP Poland (DPP), in May I noted argues “been effective at driving sales”… but what does it mean financially?. Surely some useful insight now from a “H1 2019 Trading Update”

CyanConnode – “confidence that we will meet full year market expectations”. Really?...

Already down from a start of 2019 more than 9p, shares in CyanConnode (CYAN) are currently further lower below 6p despite a trading update seeing Executive Chairman John Cronin commencing “we have made solid progress during H1 2019, securing a number of follow on orders in India and Europe, which is testament to the strength of our Omnimesh technology” and concluding “the growth in India and the demand from the rest of the world gives the board confidence that we will meet full year market expectations. We look forward to reporting on such new orders in H2 2019 and delivering significant revenue growth for FY 2019”. Hmmm…

CloudCall – “a high degree of confidence that… on-track to meet its future goals”… so why the share price decline?

“CloudCall (AIM: CALL), a leading cloud-based software business that integrates communications technology with Customer Relationship Management platforms, announces the following trading update for the six months ended 30th June 2019”. Hmmm – despite late March-announced results including “it is encouraging to see early indications of the impact those investments will make in the future coming through towards the end of the year… pleased to report a strong start to 2019”, not ‘pleased to announce’?...

Trakm8 – talks “adjusted (loss)/ profit”. Er, what about those self-admitted “necessary” ‘capitalised development costs’?

Telematics and data insight provider, Trakm8 (TRAK) has announced results for its year ended 31st March 2019, including “sales related challenges and contract delays significantly impacted” but that “the new financial year has begun with new contract awards from two further insurance companies, with revenues already commenced” and “Fleet sales team's performance is continuing to improve, securing a higher value of contracts than the corresponding period last year with this momentum expected to continue”. The current year to be much improved then?...

LightwaveRF – argues an “incredibly encouraging” order… but what about the bottom-line & balance sheet?

Previously writing on “leading smart home solutions provider” LightwaveRF (LWRF), in April I concluded with the shares back above 8p that I continued to avoid. Today a “European distributor order” announcement including CEO Jason Elliott emphasising “it is incredibly encouraging to see one of our newer partnerships, which is directed to developing our European markets, making such strong early progress with this sizeable first order”

TechFinancials – argues “considerable progress away from the historical business model to new products and technologies”, BUT…

Self-styled “fintech software provider of financial solutions including blockchain-based digital assets and traditional financial trading solutions for retail clients”, TechFinancials (TECH) has (eventually) announced 2018 calendar year results, noting “trading in second half adversely impacted by tightening regulation… but with considerable progress away from the historical business model to new products and technologies…We are confident about the long-term prospects of the group and will continue to invest for the future”

ALB
ALB

Albert Technologies – ‘expanded activity’ from a ‘highly encouraging’ client base… so why are the shares slumping again?

Artificial intelligence marketing platform company, “Albert Technologies (AIM: ALB.L) today provides an update on trading for the first four months of the current financial year and on the expectations of the company's management for the year as a whole”

Tungsten – “achieved its first annual EBITDA profit”… but what about cash & the rest of the balance sheet?

Business transaction platform company Tungsten (TUNG) is “pleased to announce that Tungsten achieved its first annual EBITDA profit… we are confident that through executing the actions identified in our operating review, including working with an e-procurement partner and expanding our AR e-invoicing services, we will be able to achieve higher revenue growth” – and the shares have responded higher above 38p. However, EBITDA is, of course, bullshit earnings and there’s a track record of disappointment to overcome…

Cellcast – already, in light of decline, “exploring all options”… ANOTHER intra-day announcement…

Previously writing on Cellcast (CLTV), it was an intra-day “Trading Statement”. Uh oh…. Now another intra-day (this time at 10:45) RNS; “Update on overseas consulting services” – why don’t I think this is going to be good news?...

FST
FST

Frontier Smart Technologies – “Termination of Discussions”… so why the share price rise?

“Termination of Discussions and Holding in Company” announcement from Frontier Smart Technologies (FST) – and the shares are currently soaring, at above 25p, having previously closed at 14.75p. Hmmm…

Toople – interims, “cash… sufficient to allow business to continue with the growth plan”. Really?...

Previously writing on provider of telecom services to UK SMEs Toople (TOOP), it was argues “tremendous progress”… but what about to that ‘positive cash flow generation’?. Today results for the company’s half-year ended 31st March 2019 argue “this has been an excellent six months for the company… Current trading is strong with another record month in April and a healthy new business pipeline… initiatives and our excellent product offering and customer service will, we believe, ultimately set us on the road to achieve our stated goal of long term future profitability”. The shares have currently responded, er, towards 0.50p – more than 7% lower…

EYE
EYE

Eagle Eye Solutions – News America Marketing partnership “exciting”… or an RNS Reach ramp?

Shares in SaaS marketing technology group Eagle Eye Solutions (EYE) are currently approaching 7% higher on the day, above 160p, on the back of a partnership announcement with News America Marketing…

FST
FST

Frontier Smart Technologies – “reviewing its plans” for cash mitigation. I bet it is!

Previously writing on Frontier Smart Technologies (FST), in July I concluded I suggest some consistent delivery is now needed here to re-inspire confidence and, at least before that, I avoid. Today the self-styled “pioneer in technologies for Digital Radio and Smart IoT devices… announces a trading update and revised outlook for the current financial year ending 31 December 2019”. Uh oh…

PCI-PAL – “Extends Global Cloud Beyond UK & US”; a conveniently timed announcement?

Shares in “secure payments provider” PCI-PAL (PCIP) are currently more than 5% higher today, above 20p, on the back of an announcement; “PCI Pal Extends Global Cloud Beyond UK & US”

DPP
DPP

DP Poland – argues “been effective at driving sales”… but what does it mean financially?

The company with the exclusive right to develop, operate and sub-franchise Domino's Pizza stores in Poland, DP Poland (DPP) has updated including “our marketing campaign featuring Damian Kordas launched in the second half of January and has been effective at driving sales, as has our trial partnership with food delivery aggregator Pyszne”. The shares have responded higher to 9p – but that still comparing to even a start of 2019 more than 12p…

XSG
XSG
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Xeros Technology – 2018 results… to be calling Neil Woodford with a ‘bring the cheque book’ AGAIN!

Self-styled developer of “disruptive water saving technologies”, Xeros (XSG) has announced 2018 results headlined “good progress towards licensing model”. Natch, with “disruptive” being bandied about here, Woodford’s also about (39.71% shareholding). “Good progress” then?...

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Trakm8 – “positive adjusted profit for the second half”… so at least close to net cash generation then? Er…

Telematics and data supplier Trakm8 (TRAK) commences a trading update for its year ended 31st March 2019 with that it “met current market expectations… achieved a positive adjusted profit for the second half” and the announcement includes “at the period end contracts were secured with Ingenie… and another one of the UK's innovative insurance providers. Post year end Trakm8 signed a contract with another new insurance provider… The number of roadside assistance customers deploying Trakm8 solutions across Europe has increased to 7 and the product has been launched in Australia. In the Fleet space new contracts were secured with a number of medium sized fleets”. Good news then?...

AST
AST

Ascent Resources – and there’s the placing as it exploits permit ‘delight’

Ascent Resources (AST) “is pleased to announce that it has completed an oversubscribed placing of 214,285,714 ordinary shares… with a small number of institutional investors. The placing was conducted at a price of 0.35 pence per share”Particular credit to Evil Banksta – and the company “pleased to announce”, with the price a 30% discount to the prior close?! (“oversubscribed” not exactly an achievement then!)...

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Purplebricks Remains a Sell

The investment case for Purplebricks (PURP) is looking increasingly ragged. Even the analysts, not noted for being quick off the mark, seem to be losing faith – JP Morgan slashing its price target from 400p to 188p, and Berenberg really coming to its senses by replacing its 460p target with an 80p target. The disruptive growth story is now in shreds after February’s profit warning...

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FAB
FAB

Fusion Antibodies – emphasises second half improvement… why a muted share price response?

“Fusion Antibodies plc (AIM: FAB), a pharmaceutical contract research organisation specialising in antibody engineering services, provides a business and unaudited trading update for year ended 31 March 2019, confirming the improvement in second half performance announced on 25 February 2019”. Sounds positive – though despite being down from more than 100p in August and even a start of 2019 more than 50p, the shares nudging up to only 30p?...

MOS
MOS

Mobile Streams – “to preserve and protect its remaining cash balances”. Hmmm…

Previously writing on Mobile Streams (MOS) a couple of weeks ago, I noted interims & “the directors are analyzing further financing initiatives and a cost reduction program”. I bet they are!. Today CEO Simon Buckingham emphasises “decisive cost reduction actions. This has allowed the company to preserve and protect its remaining cash balances”. Has it?...

Quiz plc – full-year trading update argues “continued expansion”. Er…

An update from fashion retail company Quiz plc (QUIZ) early last month included that it “anticipates revenues for FY 2019 to now be approximately £129.0m… now anticipates that the group's EBITDA will be approximately £4.5m”. Today a “Post-Close Trading Update” including “revenue increased by 12% to £130.9m during the financial year ended 31 March 2019 (‘FY 2019’)”. Good news then?...

ASC
ASC

ASOS – interims emphasise confident of future improvement… but enough to justify valuation?

Online fashion retailer ASOS (ASC) has announced results for its half year ended 28th February 2019 and that “we are confident of a stronger performance in H2 and are leaving FY guidance unchanged”. Hmmm…

LightwaveRF – trading update ‘delight’… but revenue is vanity…

CEO of self-styled “leading smart home solutions provider” LightwaveRF (LWRF), Jason Elliott, is “delighted that Lightwave has maintained the momentum of significantly improved revenue in the quarter” – and the shares have currently responded back above 8p, 10% higher…

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Accesso – emphasises revenue & ‘profit’ growth… but look at the cash flow & the outlook for it!

‘Queuing, ticketing & distribution and in-venue experience’ technology group Accesso (ACSO) has announced 2018 results emphasising “continued growth with revenue of $118.7m representing an increase of 15.5% on 2017 revenue (proforma for IFRS 15) of $102.8m… adjusted operating profit up 25.5% to $25.1m” and “for 2019 we expect… high single digit overall organic revenue growth, similar to 2018”. Though having already been hit from around 3000p as recently as September, the shares are currently a further approaching 12% lower to 750p. Hmmm…

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Maistro – “pleased to report on the significant progress that has been made in 2018”… so why a further share price fall?

CEO of ‘Procurement-as-a-Service’ platform company Maistro (MAIS, formerly Blur), Laurence Cook is “pleased to report on the significant progress that has been made in 2018”. The shares have responded currently to 1.25p – 4% lower. Hmmm…

XAR
XAR

Xaar – 2018 results, “strong portfolio” to deliver benefits to shareholders?

Inkjet printing technology company Xaar (XAR) has announced 2018 results including “we are confident that the transformation we are undergoing will lead us to become a more diversified and customer-centric organisation, with an appropriate balance between established and developing technologies. We remain focused on delivering the benefits of our strong portfolio and technology advantages to shareholders”. The shares have responded, er… further lower, below 115p…

XAR
XAR

Xaar – “Trading Update”, problems behind it… or are they?

“Xaar plc (XAR), a world leader in industrial inkjet technology, provides an update in advance of its forthcoming preliminary results”. This including “the integration issues experienced leading to the delays are now behind us and sell-through is expected to increase. Furthermore, the minimum volume commitments from our supplier have now been met. The company will announce its preliminary results on 21 March 2019 at which time it will also provide an update on its review of strategic options for more extensive partnering in the Printhead business unit”. Having also provided a trading update on 28th December, why a current 6% share price fall today though, to below 130?...

PCI-PAL – interims argue “a strong balance sheet position”. Really?

Secure payment cloud platform company PCI-PAL (PCIP) “is pleased to announce its unaudited interim results for the six months to 31 December 2018”, with Chairman Chris Fielding emphasising “the management team has made positive progress against our principal strategic and operational objectives”. The shares have responded… er, currently 8% lower to 23p…

NBB
NBB

Norman Broadbent – argues “significant progress towards a return to profitability”… but quick enough?

A trading update from executive recruitment and services company Norman Broadbent (NBB) commences emphasising “Significant progress towards a return to profitability” – and the shares have currently responded more than 6% higher, towards 13p…

IQE
IQE
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IQE – sell the rally

It is not, in my view, a great time to be shorting UK names which are sensitive to the underlying market direction as I believe that the UK market, currently suffering from peak uncertainty from Brexit, could see a major re-rating in the event of any solution bar a general election, particularly if there is some sort of fudge of May’s deal which is, I think, the most likely outcome (I am long FTSE 250 not 100 futures to avoid currency considerations). This is not to say that I have downed tools completely on the short side in the UK...

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Sensyne – a Neil Woodford success story? No: Red Flags (and accounting blooper) Central

AIM-listed Sensyne Health (SENS) was spun out of Drayson Technologies and joined the Casino last August, raising £60 million in the process and has just published its first set of accounts as a listed company. No doubt Neil Woodford will have enjoyed the market response as the shares put on 7% (Woodford holds 20%), although not enough to extinguish his pain at Utilitywise (UTW) as the latter announced the dreaded “strategic review”. I doubt he will have enjoyed Sensyne’s ride as a plc either, as the IPO was at 175p per share and even after this rise the shares are 167p. Hardly a cracking endorsement! So what does Sensyne do? Well, it is – of course – disrupting its world! According to Woodford:

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PCI-PAL – argues “pleased” again… but on course for more funding needed? (after previous one a private investor screwing)

PCI-PAL (PCIP), “the customer engagement specialist that secures and protects payment card data for companies handling payments by phone, is pleased to announce a trading update for the six months to 31 December 2018”. Then again last year, previously writing on the company the shares were down on “pleased to announce” results which had followed a private investor screwing…

EPO
EPO

Earthport – further good news for shareholders as Mastercard trumps Visa’s offer. What now?

Earthport (EPO) has announced a 33p per share recommended offer from Mastercard, valuing it at approximately £233 million and trumping a prior 30p per share recommended offer from Visa. But haven’t we been bearish here?...

EYE
EYE

Eagle Eye Solutions – “delighted” on H1 & growth expected to continue into H2… but what about that cash burn?

Eagle Eye Solutions (EYE) has updated on trading including “we are delighted to confirm a strong first half of the year, delivering significant revenue growth and expansion of the customer base, including the addition of Waitrose and Burger King” and “the growth in revenues and volumes is expected to continue into H2”. The shares have not responded excitedly though – currently unchanged at 172.5p…

Cloudcall – 2018 ‘a standout year in terms of innovation, platform investment and sales & marketing capabilities’… so cash burn?

Shares in ‘cloud integrator of communications technology into customer relationship management platforms’, Cloudcall (CALL) are currently lower today, but still comfortably ahead of the sub 93p they were at prior to a recent “Trading Statement”

EQT
EQT
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EQTEC will run out of cash soon and a discounted placing looks a cert

EQTEC (EQT) has long been a favourite of the pump and dump crews operating at the lower end of AIM, so when the share price suddenly doubles in the space of just a few weeks, and there is seemingly no good reason for the rise, then it is hard not to be suspicious.

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AO
AO

AO World – trading update, does “revenue up by 8.2%” really justify a £600m+ market cap here?

Having questioned on November half-year results from online electrical retailer AO World (AO.), can the high growth company rating really be justified?, today a “Trading Update”

7digital – “pleased to confirm” restructuring completion… but much it shouldn’t be pleased to confirm!

In September, previously writing on 7digital Group (7DIG) I questioned a “global leader” with Universal Music contract wins? – with it seeing me question AIM-listed companies which claim ‘global’/‘world’ leader an automatic bargepole / sell?. An intra-day (Uh oh) “Update” today commences that the group “is pleased to confirm”… but the shares are currently more than 50% lower, below 1p!…

CNS
CNS

Corero Network Security – 2018 disappointment follows 2017 disappointment, and 2019…

“Trading Update” from Corero Network Security (CNS) emphasising “order intake for 2018 is expected to be approximately 20% higher than 2017, driven by record order intake in H2 and the final quarter”“SmartWall revenue growth of approximately 20% over the prior year” and “significantly reduced EBITDA loss to approximately $2.5 million”. The shares have currently responded, er, approaching 6% lower to 12p…

EYE
EYE

Eagle Eye Solutions – “Appointment of Joint Broker”. Uh oh…

Eagle Eye Solutions (EYE) “is pleased to announce the appointment of Shore Capital as joint corporate broker to the company with immediate effect”. Hmmm, why might that be?...

Veltyco updates on launch of own financial trading brand – delay, or worse?

An “Update on launch of own regulated brand” announcement from Veltyco (VLTY), that “further to its announcement of 22 November 2018”

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