Results

Toople – argues “tremendous progress”… but what about to that ‘positive cash flow generation’?

Published 2 hours ago

An AGM statement from provider of a range of telecoms services to UK SMEs, Toople (TOOP) commences “over the last few months we have made tremendous progress and I am very pleased to announce that Toople is showing strong growth, proving that our strategy is working” – and the shares have responded currently to 0.27p, 8% higher…

Integumen – as the shares slide… an RNS Reach. Hmmm…

Published 21 hours ago

Previously writing on Integumen (SKIN) last week it was issues a speeding ticket… the shares go still faster! – they then heading towards 2.40p. They went on to more than 2.50p, before this week falling back – and today a further ‘Labskin’ update…

Tasty – results the Chairman is “pleased to be reporting”… why the further 20%+ share price fall then?

Published 2 days ago

Tasty (TAST) Chairman Keith Lassman states “I am pleased to be reporting on the group's annual results for the 52 week period ended 30 December 2018”. The shares have responded currently to 6.5p – 23.5% lower!...

Surface Transforms – placing “following recent investor demand” bullshit again?

Published 2 days ago

Surface Transforms (SCE) has updated including “we are pleased that current shareholders continued to support our strategy to become a series production supplier of carbon ceramic brake discs to the large volume original equipment manufacturer automotive market. We look forward to the future with confidence”. This from a “£1.9 million placing” announcement…

Impellam – full-year results argue “our strategy is working”. Is it?

Published 8 days ago

Recruitment and managed services group Impellam (IPEL) has announced full-year results, including emphasising “Our strategy is working with revenues increasing by 4.9% (5.7% at constant exchange rates)”… The shares have responded currently to 460p – 16% lower!...

Stilo International – 2018 results, “significant financial overheads associated with being a public listed company” worth it?

Published 8 days ago

Previously writing on content software tools and cloud services business Stilo International (STL), it was I having previously questioned capable of delivering sufficient growth?, half-year results…. Today 2018 full-year results including “as we look forward to growing future sales, supported by healthy cash reserves and a strong balance sheet, I am pleased to announce the payment of an increased final dividend of 0.06 pence per share, providing a total dividend for the year of 0.12 pence” (2017: 0.10p) – the shares have though currently responded to 2.35p – down 17.5%!...

F40 Walcom – proposed sale of subsidiary to postpone death

Published 9 days ago

The final death throes of ShareProphets AIM-China Filthy Forty play Walcom (WALG) seem to be upon us. This is as a result of its biggest customer defaulting on payments, leaving Walcom with no cash, a much reduced client pool and a stack of bills to pay. On 28 February the company warned it may go belly up by the end of March. The good news is that the executioner has been held off until mid-April, and Walcom is now proposing to sell off a subsidiary to raise a bit of cash...

Driver Group – a great opportunity for the directors to materially buy shares in what they state is “a leading global player”? Er…

Published 9 days ago

Writing on professional services consultancy to the construction and engineering industries, Driver Group (DRV) on Monday it was from “transformative turnaround” to profit warning… in 3 months! – and the shares closed at 52p, having been above 70p last week (though with a noticeable fall on the Friday – hmmm!) and above 80p in December. There’s now since followed three “Director dealing” announcements…

Integumen – issues a speeding ticket… the shares go still faster!

Published 10 days ago

“Share Price Movement” announcement from ‘Labskin’ technology company Integumen (SKIN) – this including “the transformation of the company has been swift since new management took over in August 2018… part of Integumen's growth strategy involves actively pursuing a broader portfolio of services, that contribute to increased revenues per client, through existing revenue shared collaboration and acquisition options that include, data analytics, software and biophysics integration services. The company is currently involved in a number of such discussions”… and the shares are currently higher today, towards 2.40p…

Autins – Chairman & CEO (though the announcement doesn’t seem sure!) small share purchases following results showing finances further deteriorating… Hmmm!

Published 10 days ago

Last week I questioned on automotive sector acoustic and thermal insulation group Autins (AUTG), “pleased to announce” results & “confident 2019 will deliver positive results”. Really?. There is currently though a “Directors' Dealings” announcement seeing the shares jump…

And today’s Woodford disaster is………..(yet again) Eve Sleep as auditor raises going concerns

Published 10 days ago

Yesterday it was Kier (KIE) and today his attempt to disrupt the world of bedding takes yet another glorious bow, for AIM-listed Eve Sleep (EVE) has published its 2018 full year results. Oh, and Halosource (HAL), which was revolutionising the world of water, was formally booted off the AIM Casino this morning after not being bailed out. What chance a Woodford hat-trick today?

NetScientific – de-listing GM adjourned indefinitely as would be defeated, where now for this Woodford dog?

Published 18 days ago

Previously writing on NetScientific (NSCI) it was “Conclusion of Strategic Review” does indeed look more Neil Woodford disaster vicar – including that “the board has concluded that it is in the best interests of the company and its shareholders as a whole to cancel the admission of the ordinary shares to trading on AIM, re-register the company as a private limited company”. There’s now been updates on the General Meeting…

Directa Plus – “honoured” & “excited” by contract win. But…

Published 18 days ago

Directa Plus (DCTA) is “honoured to be working with Loro Piana to incorporate Directa Plus's innovative G+ Graphene technology into some of their fabrics and garments” – and the shares have responded higher, back above 60p…

FFI Holdings – having listed little more than 20 months ago... not again surely!…

Published 18 days ago

In June 2017, at 150p per share, “FFI Holdings (FFI), the world leader in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming products, is pleased to announce… admission of its ordinary shares to trading on AIM” and in September of that year CEO Steven Ransohoff was emphasising “following our successful IPO, FFI has been working diligently on improving costs associated with our Completion Contract business. To that end, I am excited to announce the formation of our captive insurer, FFI Insurance, together with our long-time partner, MS Amlin”. But since…

Dillistone – “current year has begun well” & an update it states it’s “pleased to provide”… so why the share price dive?

Published 22 days ago

Shares in Dillistone Group (DSG) are currently down noticeably today – towards 40p. Earlier in the week they were rising towards 60p – but then yesterday an intra-day (3:30pm) “Trading Statement, Update & Notice of Results”

Mobile Streams – “delighted by this increased support from our existing investors”. Er…

Published 23 days ago

Mobile content retailer in Argentina and India, Mobile Streams (MOS) “is pleased to announce a fundraising of £140,000… at 0.35 pence per subscription share”, with CEO Simon Buckingham “delighted by this increased support from our existing investors. We are excited by the potential to launch our mobilegaming.com games services in the large Indonesian market”. Hmmm...

Hotel Chocolat – “pleased to report continued progress”… but sufficient for the valuation?

Published 24 days ago

Angus Thirlwell, co-founder and CEO of “premium British chocolatier and omni-channel retailer”, Hotel Chocolat (HOTC) is “pleased to report continued progress for the Hotel Chocolat brand during the 26 weeks to 30 December 2018” – and the shares have responded currently approaching 3% higher to 315p. How do the results and outlook compare to a present more than £355 million market cap?...

XLMedia – from “growth potential in media activities” to “strategic shift away from Media”… in just 5 months!

Published 24 days ago

Digital marketing company XLMedia (XLM) has updated including that it “has identified a number of Publishing growth opportunities in North America… in order to best capitalise on the opportunities available, the board has taken the decision to proactively reduce all the group's non-core, lower margin Media activities”. The shares have responded… er, currently more than 30% lower to below 55p. Hmmm…

DeepMatter Group – with the dilution, why a larger placing?

Published 25 days ago

An announcement from DeepMatter Group (DMTR) commencing; “Further to its announcement dated 20 December 2018, DeepMatter, the AIM-listed company focusing on digitizing chemistry, is pleased to announce that it has raised approximately £4.0 million by way of a placing of 159,185,680 new ordinary shares at 2.5 pence per share”. Hmmm – the shares have currently responded 17.5% lower…

Fusion Antibodies – “materially below current market expectations” adds to “significantly behind” expectations from earlier in the year!

Published 25 days ago

“Fusion Antibodies plc (AIM: FAB), a pharmaceutical contract research organisation specialising in antibody engineering services, provides an update on the company's trading and progress to date in the current financial year ending 31 March 2019”. This is a company which listed in December 2017, with house broker Allenby Capital looking for revenue of £3.2 million for the company’s year ended 31st March 2018 and breaking into profit on revenue of £5.6 million for the now current year…

Paragon Entertainment – “Property Disposal” announcement... which is far from just a “Property Disposal” announcement!

Published 28 days ago

Previously writing on Paragon Entertainment (PEL) it was December intra-day (2:15pm) “Trading Update”. Uh oh…. Now an intra-day (1:29pm) “Property Disposal” announcement. Surely this one just a routine announcement though?...

MediaZest – placing announcement, contradictions everywhere!

Published 28 days ago

Previously writing on audio-visual marketing company MediaZest (MDZ) in September I questioned it arguing “strong performance”. Today a placing announcement…

Blue Prism – less than a month after £100m placing, “Director/PDMR Shareholding” announcement…

Published 29 days ago

“Director/PDMR Shareholding” announcement from Blue Prism Group (PRSM). Following a £100 million placing just last month to “strengthen our leadership position and allow us to capitalise on… significant potential in our connected-robotic process automation and its ability to transform operations across geographies and sectors”, a purchase then?...

Interserve – now Goldman dumps. Follow the masters (of the universe)

Published 30 days ago

A little RNS popped up from fully-listed Interserve (IRV) at 9.56am today telling us that Goldman Sachs has been dumping stock like there is no tomorrow. In this case of course there may indeed be no tomorrow (as discussed HERE), as Coltrane Asset Management tries to block the D4E deal and risk a pre-pack insolvency which would wipe out all shareholders. But who bought the Goldman stake?

Greggs – earnings upgrade & further upgrade potential… but this valuation?

Published 30 days ago

Following a trading update yesterday which helped the shares up from circa 1600p towards 1800p, shares in “the leading bakery food-on-the-go retailer in the UK, with over 1,950 retail outlets throughout the country”, Greggs (GRG) currently remain above 1750p following research updates…

McBride – last year warned ‘now only broadly in line with the prior year’, this year…

Published 30 days ago

Previously writing on cleaning and hygiene products private label and contract manufacturer McBride (MCB), I concluded certainly at least until there is hard evidence of reignited bottom-line progress, I avoid. The shares were then above 200p, comparing to a close yesterday of 130p – and, on the back of a “Trading Update” today, they’re currently circa 90p!...

Karelian Diamonds – “Great Pleasure” in presenting Interims justified? Er, no…….SELL!!

Published 32 days ago

This morning AIM-listed Karelian Diamonds (KDR) - the Prof Conroy sister to Conroy Gold and Natural Resources (CGNR) - offered up its Interims to the end of November. Prof Conroy was pleased, but should shareholders be enthused?

DP Poland – “Broker Option Update” = incredible further contempt for diluted smaller investors who’ve seen the share price destroyed

Published 36 days ago

DP Poland (DPP) “is pleased to announce that it has conditionally raised additional gross proceeds of approximately £0.5 million via the broker option”“Pleased to announce”, really?!?...

LightwaveRF – “pleased to announce”… RNS Reach announcements. Hmmm…

Published 37 days ago

LightwaveRF (LWRF) has this week followed a “Partnership with Honeywell Home by Resideo” RNS Reach announcement from last week with a “UK consumers connect with the Smart family” such announcement. Hmmm…

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

Published 37 days ago

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…

Plus500 – “pleased to announce” results… so why a near 30% share price crash?

Published 38 days ago

Writing on Plus500 (PLUS) in November with the shares rising above 1400p, I questioned it stating “a good position for 2019”. Today from the company “pleased to announce preliminary unaudited results for the year ended 31 December 2018”… but the shares currently approaching 30% lower, at around 1150p!...

DP Poland – trading underperformance, massively discounted bailout placing… CEO “step down… by mutual agreement”!?

Published 43 days ago

I’ve consistently warned on DP Poland (DPP) – most recently last year with the shares at around 30p HERE. Today a “Proposed Placing, Board Change & Trading Update” announcement…

Victrex – Q1 much weaker, will new projects & reduced headwinds really support near-term assumptions?

Published 44 days ago

An AGM update from “high performance polymer solutions, focused on the strategic markets of Automotive, Aerospace, Energy, Electronics and Medical”-company Victrex (VCT) includes “our expectations for the second half are unchanged, with new projects and reduced headwinds supporting our assumptions” – and the shares have currently nudged further ahead of 2300p. However, that compares to circa 3400p at the start of October. Hmmm…

Ocado – fire incident “now under control”, but having expanded last night

Published 44 days ago

Having announced yesterday lunchtime that “a fire started in a section of the ambient grid of our Andover CFC… The incident and the measures being taken to contain it appears to have affected a proportion of the mechanical handling equipment and some of the grid… Andover suspended operation this morning preventing further fulfilment of orders”, a further update today from Ocado (OCDO) commences; “Unfortunately the fire which started yesterday morning in a corner of the ambient grid was not contained as we believed, and last night expanded”...

Parity Group – “Trading Statement”; following profit-warning impacted 2018…

Published 45 days ago

“Trading Statement” from “technology focussed consultancy and staffing business”, Parity Group (PTY) – and the shares currently slightly ahead, closer to 7p. Good news then? Well, they were close to 10p at the start of November and more than 15p in the summer…

Why Ryanair Shares May Not Fly So Well in the Future

Published 45 days ago

Hello, Share Wobblers. Investing in airlines is something I stopped doing a long time ago. And since I sold my British Airways shares years ago, I’ve probably saved a lot of money. It’s such a volatile sector. It’s at the mercy of world economics, rising fuel prices, fierce competition, strikes and compensation claims...

Transense Technologies – “GE Aviation Contract Win” announcement sparks shares… but reasons for caution?

Published 46 days ago

“GE Aviation Contract Win” announcement from Transense Technologies (TRT) – and its shares currently 15% higher, at 50p, in response. What’s the detail then?...

Tesla Q4 Earnings Call: “One More Thing”

Published 46 days ago

As an, uneventful by recent standards, Tesla (NASDAQ - TSLA) quarterly earnings call came to an end last night, Elon Musk came up with the following, as if it were an afterthought; “Um yeah…the um….Deepak is going to be retiring from Tesla”...

CML Microsystems – having stated only in November “full year advance in profitability remains likely”, now…

Published 49 days ago

A 20th November-announced half-year report from semiconductors company CML Microsystems (CML) included “it currently looks challenging for second half revenues to show material improvement over the first six months although at the profit before tax level, the impact is expected to be less pronounced due to the anticipated product mix. Therefore, a full year advance in profitability remains likely, in-line with market expectations”. Today a “Trading Update” – and the shares currently more than 20% lower on the back of it, towards 340p…

Utilitywise – “Strategic Review and Formal Sale Process” = shares suspension ahoy as ‘not sufficient’ funding interest; why’s that Neil?

Published 53 days ago

Previously writing on Utilitywise (UTW), in July it was a “Strategy Update” only David Brent & major shareholder Neil Woodford are clever enough to understand? – with that including CEO Brendan Flattery attempting to reassure that “the strategy update outlined today will enable Utilitywise to meet its two new financial targets, as well as maximising the medium term potential from the business”, though I concluding of course though, there is no guarantee that it will – and I’ll continue to avoid at least until there is some clear net cash generation demonstration. Today a “Strategic Review and Formal Sale Process” announcement…

Hotel Chocolat – argues “another strong Christmas”, but how’s the outlook v. the valuation?

Published 58 days ago

“Premium British chocolatier and omni-channel retailer”, Hotel Chocolat (HOTC) has updated on the 13 weeks ended 30th December including “this was another strong Christmas for Hotel Chocolat” and adding “trading since December continues to be in line with management's expectations”. What are expectations though?, and how do they compare to the valuation? – the shares currently circa 5% higher on the day, above 280p – capitalising the company at approaching £320 million…

Dillistone – “Major Contract Award & GatedTalent Update”; Ramptastic?

Published 58 days ago

I cautioned on shares in recruitment software and services group Dillistone (DSG) as they fell towards 70p in 2017 and have done so numerous times since. They’d fallen to 42.5p recently, but are currently more than 20% higher, back above 50p, on the back of a “Major Contract Award & GatedTalent Update” announcement…

Mobile Streams – “initiative in Indonesia” announcement is re. services not yet launched. Hmmm…

Published 59 days ago

“new market initiative in Indonesia” announcement from Mobile Streams (MOS), including CEO Simon Buckingham arguing, having “considered a number of markets to complement Latin America and India… we strongly believe that Indonesia, a sizable market with a population of over 250 million, provides the best opportunity to achieve positive results in both the short and long term”. Hmmm…

CyanConnode – trading update argues a 2019 “prudently built” business plan; previous ones imprudent then?

Published 64 days ago

“Trading Update” from self-styled “a world leader in Narrowband Radio Frequency Smart Mesh Networks”, CyanConnode (CYAN) is headlined “FY Revenues significantly exceed those achieved in FY 2017”. Why is the vanity of revenue rather than the reality of cash emphasised? – always a concern…

Seeing Machines – “Half year trading update”, surely useful insight into whether really well placed financially then…

Published 65 days ago

Writing on Seeing Machines (SEE) in November, I questioned is it really “very well placed” financially to leverage developments?. Now a “Half year trading update” – surely some useful further insight into that key question then…

NetScientific – zero potential offerors; more Neil Woodford disaster vicar?

Published 65 days ago

An intra-day (11:08am) announcement and Woodford Investment Management the major shareholder. What’s the chances this announcement from self-styled “transatlantic healthcare IP commercialisation group”, NetScientific (NSCI) ain’t going to be good…

boohoo – argues “strong growth”… so why a strong share price response…down?

Published 66 days ago

“Trading Update” for the four months ended 31st December from boohoo (BOO) emphasises “Strong revenue growth of 44% (43% in constant exchange rates) across all geographic regions” (to £328.2 million), “Gross margin for the four months 54.2%, up 170bps” and “Strong balance sheet with net cash of £189 million (31 December 2017: £127 million)”. The shares have currently responded, er... more than 7% lower towards 180p…

Goals Soccer Centres – own goal as goes from “optimistic” to profit warning in 4 months

Published 67 days ago

In September, previously writing on Goals Soccer Centres (GOAL) I noted it stating “trading in H2 has started well” but also US and financial risk – and concluded to continue to avoid. Now a “Post close trading update” – and the shares currently more than 15% lower on the day, towards 60p…

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

Published 70 days ago

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”

Carclo – “significantly below” expectations profit warning sees CEO ‘resign’… to then become CEO of the “critical” division!

Published 70 days ago

Previously writing on Carclo (CAR), I noted last summer as the shares headed down towards 90p that I’d want to see at least some consistent financial delivery before having confidence here. Today a “Trading Statement” – and shares in this fine-tolerance, injection-moulded plastic parts manufacturer currently down more than 30% on the back of it, at 55p!...

Premier Veterinary Group – 4:07pm “Trading Update”. Uh oh…

Published 71 days ago

A late in the day (4:07pm) “Trading Update” from Premier Veterinary Group (PVG). Uh oh…

Eagle Eye Solutions – why the director share buys? (& attempted no-one watching o’clock share options disgrace)

Published 72 days ago

Last week I noted “Appointment of Joint Broker” by Eagle Eye Solutions (EYE). Now a “Director/PDMR Shareholding” announcement…

Mobile Streams – partnership with Reliance Jio ‘delight’, but financials?...

Published 74 days ago

Mobile Streams (MOS) is “delighted to be partnering with the world's fastest growing telecom company, Reliance Jio… India's largest 4G network”. However, it’s an RNS Reach announcement…

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

Published 78 days ago

“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…

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

Published 79 days ago

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?

Published 81 days ago

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

Transense Technologies – argues “look forward to 2019 with optimism”. Er…

Published 90 days ago

Sensor systems company Transense Technologies (TRT) commences an AGM update with that “iTrack II recurring monthly subscription revenues continue to increase” and adds “good progress has been made in developing partnering opportunities to accelerate growth in this market” and that “the board look forward to 2019 with optimism”. The shares have responded more than 10% lower, below 50p. Hmmm…

ASOS – directors share buying BUT…

Published 93 days ago

Following “Trading Update” = Trading Shocker!, a “Director/PDMR Shareholding” announcement from ASOS (ASC)…

Low & Bonar – warns on performance & attempted discounted fundraising ahoy?

Published 98 days ago

Previously writing on ‘specialist performance materials’ company Low & Bonar (LWB), I concluded “the shares have unsurprisingly sunk, currently to circa 40p. However, with present challenges aplenty, I currently retain previous caution – and note this a further reminder to be cautious of ‘greater second half weighting’ – particularly if amidst already clear challenges!” (see I suggested profit warning, it reckoned greater weighting to the second half). Today a further “Trading Update” – with a first bullet point being “tough market and trading conditions largely unchanged during fourth quarter”. Uh oh…

Tungsten – half-year results,will it go bust & if so how soon?

Published 99 days ago

Business transaction network company Tungsten (TUNG) has announced results for its half-year ended 31st October 2018, including CEO Richard Hurwitz emphasising “we have achieved much in the first half of the financial year to support future revenue growth, including the new customers that we have signed, securing our Italian SdI registration and our partnership with Mastercard”. So why do the shares remain depressed around 32p?...

Bonmarche – “extremely poor” sales, though argues “confident in the strategy” & “well prepared to weather the storm”. Really?

Published 99 days ago

“Trading Update” from womenswear retailer Bonmarche notes its “forecast assumed that demand would broadly follow the pattern experienced last year when, during the earlier part of November, customers delayed purchases in anticipation of being able to take advantage of Black Friday discounts. However,”... Uh oh…

Today's disaster story from FinnCrap - shocking lack of profits warning at Filtronic!

Published 100 days ago

Filtronic (FTC) has updated including “demand for the recently introduced Massive MIMO (‘mMIMO’) antennas is now expected to be substantially lower than we had forecast in the second half of FY2019”. This follows an October AGM statement including “overall market endorsement of the benefits of mMIMO is apparent… Our mMIMO programme is strategically significant and successful market acceptance of this product will be material in defining our near-term development”. Uh oh then…

LightwaveRF – full-year results. “Considerable progress”, right?

Published 100 days ago

LightwaveRF (LWRF) has announced results for its year ended 30th September 2018, including Chairman Barry Gamble stating “your company continues to make considerable progress on a number of fronts. Excellent product endorsements, such as being described as ‘the best UK (Apple) Homekit solution for smart lighting’, amply demonstrate our proven technology, even as the company presses ahead with further developments and more international variants”. So why do the shares remain depressed, below 7p?...

Interserve: you were warned - bring out the ouzo!

Published 102 days ago

Whilst Tom Winnifrith enjoys an early morning glass of ouzo upon confirmation that MySquar (MYSQ) has finally departed the Casino amid allegations of fraud and someone’s fingers in the till, there is another party going on at Deputy Sheriff Towers: fully-listed Interserve (IRV) has finally confessed that its shareholders are going to get clobbered. Indeed, the shares this morning fell way below their nominal price of 10p in the scramble to get out and currently sit 47% down on the day at around 12p...

Blue Prism Group – an update it’s “pleased to report”, so why are the shares down in response?

Published 115 days ago

“Robotic Process Automation” group Blue Prism (PRSM) has updated commencing “the board is pleased to report that the strong sales momentum seen in the first half of 2018 has continued, with a strong second half, particularly in the fourth quarter”. So why a current 15% share price decline, to sub 1400p?…

Hotel Chocolat – opens in Japan, growth profile “very interesting indeed”?

Published 115 days ago

Hotel Chocolat (HOTC) has announced the opening of the first Hotel Chocolat store in Japan, emphasising a “hugely encouraging” reaction – this following house broker Liberum having noted on September-announced results “management has developed Hotel Chocolat into the leading UK premium chocolate brand and is now expanding that strategy into new international markets. The combined market size of the USA, Japan and Scandinavia is some 4.6x that of the UK and with sensible plans in place, the next stage of Hotel Chocolat’s growth profile looks very interesting indeed”

Directa Plus – new agreements & argues “good progress” and “increasing confidence”, but what does it all mean financially?

Published 119 days ago

Writing on Directa Plus (DCTA) in September, with the shares up to circa 70p, I questioned do road test & CEO share purchase merit the shares soaring?. Now, an “Environmental Sale and Participation in Trial” announcement today has followed a trading update yesterday…

Seeing Machines – CFO “to step down” as company regales a litany of success. Really?

Published 119 days ago

I noted in September not ‘pleased’ to announce results from Seeing Machines (SEE) – and now the company announces that “James Palmer, Chief Financial Officer, is to step down from his position for personal reasons”. Hmmm…

Mobile Streams – ramptastic user number RNS Reach. Hmmm, why now I wonder?

Published 119 days ago

“MOS welcome the 6 millionth user”-titled announcement from Mobile Streams (MOS) sounds ramptastic… and it’s an RNS Reach (“non-regulatory news releases such as marketing messages, corporate and product information”). Alarm bells ringing…

AO World – interims argue “remain confident”… but can the high growth company rating really be justified?

Published 122 days ago

Online electrical retailer AO World (AO.) has announced results for its half-year ended 30th September 2018, emphasising “continued revenue growth with total revenue for the period increasing by 9.9% to £404.2m (2017: £368.0m) and “remain confident of achieving long-term sustainable growth across the group”. The shares have responded, er... currently more than 5% further lower, below 120p. Hmmm…

Eagle Eye Solutions – argues looks ahead “with confidence”… though why not provide the key numbers then?

Published 126 days ago

I first cautioned on shares in Eagle Eye Solutions (EYE) in February 2016 at over 200p and mostly recently this summer at around 150p. Currently the shares are 127.5p – though that a few percent higher on the day on the back of an AGM update…

LightwaveRF – distribution agreement with “high-profile retailer” Dixons Carphone. Great news? Er…

Published 127 days ago

LightwaveRF (LWRF) is “delighted to have signed an agreement with another high-profile retailer… the leading smart home solutions provider, is pleased to announce a distribution agreement with Dixons Carphone”. Great news? Er…

Seeing Machines – “very well placed” to leverage developments. Really?

Published 128 days ago

An AGM statement from Seeing Machines (SEE) sees it emphasised “the past 12 months have been the most exciting and pivotal periods for Seeing Machines since the business was founded” and that “Seeing Machines is very well placed to leverage these developments”. The shares have currently nudged higher, towards 6p in response – but this also compares to more than 13p reached in June. Hmmm…

Mporium – argues “strong progress”, so what are new funds needed for?

Published 128 days ago

Mporium (MPM), “the technology firm delivering event-driven marketing, is pleased to announce that it has conditionally raised approximately £2.3 million… at an issue price of 5 pence per subscription share”. This is with CEO Nelius De Groot emphasising “the group continues to make strong progress”, and the price comparing to a prior close of 4.3p. So great news then?...

Mobile Streams – “pleased to present its audited accounts”… it shouldn’t be!

Published 133 days ago

The board of mobile content licenser and distributor Mobile Streams (MOS) “is pleased to present its audited accounts for the financial year ended 30 June 2018”. The shares have responded..., er, currently approaching 25% lower, to 0.70p!...

Westminster Group – “pleased to announce” an acquisition… but isn’t it short of cash?

Published 134 days ago

Westminster Group (WSG) “is pleased to announce the acquisition of security and risk management company Keyguard UK Ltd”. But wait a minute; isn’t Westminster itself short of cash?...

Purplebricks – half-year trading update, sensible yet again to be doing the opposite of Woodford

Published 136 days ago

A trading update for its half-year ended 31st October 2018 from Purplebricks (PURP) is noticeable for what it fails to say not for what it actually says...

ProPhotonix – “trading conditions remain positive but challenging”. Er, which is it really?

Published 140 days ago

ProPhotonix (PPIX), “a high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, today announces a trading update for the 2018 fiscal year. Trading conditions remain positive”… So good news then?...

Earthport – Chairman & former CEO retire “with immediate effect” just last week… Now “accounting errors”!

Published 141 days ago

Shares in payment network company Earthport (EPO) had already more than halved in price over the last year and now a “Restatement of Fair Value Adjustments” announcement – and they currently down a further nearly 9%, to 7p, in response…

Photonstar LED – from “increased demand” in, to potential administration of, fixed LED lighting business - in less than five weeks!

Published 142 days ago

Writing on Photonstar LED (PSL) earlier this month it was partnership announcement… when’s the attempted new funding then?. Today a “Trading Update”, including early “the competitive price pressures on fixed LED lighting have shown no sign of abating throughout October… anticipated demand for the subsidiary's circadian lighting products has not materialised”. Uh oh…

Victoria plc – warns on margins, Lucian’s ‘roll up unravel’ underway?

Published 143 days ago

“Trading Statement” from self-styled “international designers, manufacturers and distributors of innovative floor coverings” Victoria plc (VCP) emphasises early; “The group is realising the benefits of the growth and diversification of the business over the past few years”. A positive trading update then… You what? The shares are down approaching 25%, to 455p?!?...

Crawshaw – “potential financial restructuring and equity fundraising”?

Published 147 days ago

“Statement re media speculation” from Crawshaw Group (CRAW), including “the board confirms that it is considering a number of remedial actions to address the key issues it has identified, which may include raising additional funding through an equity capital raising”. Uh oh – hopefully my prior warnings were heeded…

GB Group – “remain confident”, so why the share price fall?

Published 147 days ago

A half-year trading statement from identity technology group GB (GBG) emphasises “trading performance is in line with expectations, with underlying organic revenue growth of 11%” and “our pipeline is looking strong… we remain confident in meeting full-year consensus revenue and profit expectations”. The shares have though responded currently more than 5% lower towards 480p. Hmmm…

Corero Network Security – “Customer wins”: argues “particularly pleasing”, what’s the detail?

Published 150 days ago

“Customer wins” announcement from Corero Network Security (CNS), including President and EVP Sales & Marketing, Andrew Lloyd, emphasising “to have secured another new customer for our 100Gbps SmartWall technology following a rigorous selection process is particularly pleasing and highlights the key competitive advantages and uniqueness of our solution”. Ok, so what’s the order detail?...

LightwaveRF – another RNS Reach from it, another warning to investors from me

Published 151 days ago

“LightwaveRF plc (LWRF), the leading smart home solutions provider, is pleased to announce that the Tech Industry ratings publication Trusted Reviews has described Lightwave as a stand out system”. Hmmmmmm…

Photonstar LED – partnership announcement… when’s the attempted new funding then?

Published 154 days ago

Photonstar LED (PSL) has announced a partnership with a housing association in the south of England which “manages over 80,000 homes”, emphasising “the opportunity to work with the Association as part of their Smart Estates vision is one we are very pleased to be part of”. Hmmm, what’s the detail?...

CyanConnode – a ‘pleasing’ fundraising “to fund future growth”? Nope. ‘Pleasing’ board participation? Er…

Published 154 days ago

With its shares sliding following results last month, it was then “Consolidation of European Operations”“$11.6 million order from India” and “$2.9m Order for Support Contract” announcements from CyanConnode (CYAN). As these helped the shares up, I warned India order & European office closure, how’s the funding situation? and more ‘news’, when’s the attempted new funding then?. Today; surprise, surprise…

TLA Worldwide – when you need a Nomad desperately, ‘who you gonna call?’...

Published 156 days ago

TLA Worldwide (TLA) was last week “pleased to announce that it has reached an agreement with SunTrust Bank to provide additional working capital headroom through deferment of principal and interest payments together with the waiver of covenants”. I bet it was as it had previously stated that “as a result of weak trading the group expects net debt for the 2018 full year to be significantly higher than previously anticipated and consequently is likely to breach its existing banking covenants”. Now a “Proposed Nominated Adviser Appointment” announcement…

Is Neil Woodford running short of cash?

Published 156 days ago

Having noted that Neil Woodford has been dumping shares in our Big Short BCA Marketplace (BCA), I see that the sell-off appears to be rather more widespread. One wonders if Tom Winnifrith’s comments that after a market crash investors tend to sell up is coming true already, or is there another explanation?

Defenx – “First draw down under the Convertible Loan”… but much more needed?

Published 156 days ago

Having a few months ago been part of the AIM roll-call of results not published & suspension shame, a 12:45pm announcement of “First draw down under the Convertible Loan” from Defenx (DFX). Hmmm…

Dillistone – emphasises GatedTalent ‘momentum’, but how are the financials?

Published 163 days ago

Dillistone Group (DSG) has announced “GatedTalent registers 20,000th executive member” - including “having launched the innovative executive database at the end of 2017, the pace of registrations has increased considerably with the momentum achieved seeing two considerable milestones being passed in quick succession. The 10,000th registration was registered in August 2018, with the 20,000th being achieved approximately two months later”. Sounds good, but what about financials?...

Crawshaw – “Change of Adviser” announcement, so who’s the change to? Er…

Published 169 days ago

“Change of Adviser” announcement from the self-styled “UK's leading value butcher” Crawshaw (CRAW) includes “Peel Hunt LLP has served notice, which has been mutually agreed by Crawshaw, to terminate its engagement with the group as its current nominated adviser and broker”. Who’s the ‘change’ to then?...

Defenx – “cashflow positive during 2019”? It’s got to even reach there first!

Published 170 days ago

Previously writing on cyber-security software company Defenx (DFX) in May it was CEO didn’t seem to like it… after just 6 months! - and I noted its statement that “there can be no certainty that the net proceeds of the fundraising will be sufficient to meet the working capital requirements of the Defenx Group in returning it to profitable trading”… Now AIM “Restoration” and “Convertible Loan from BV Tech” announcements…

HaloSource – emphasises “significant milestone”. Er, how’s this Woodford dog’s balance sheet?

Published 170 days ago

HaloSource (HALO) has emphasised “a significant milestone for the company, as it has officially received notification of certification from the Water Quality Association for its patent-pending technology and innovative astrea ONE filtering water bottle” - and the shares are currently more than 11% higher at 1p. Hmmm…

5 Slam-Dunk sells for 2018 – September update

Published 172 days ago

Another month has passed, so it is time for another look at my portfolio of AIM stocks which I marked as slam-dunk sells at the beginning of the year. The five in question are UK Oil & Gas (UKOG), Frontera Resources (FRR), Telit (TCM), Inspirit Energy (INSP) and Catanae Innovation (CTEA), formerly Milestone Group. At the last count the portfolio was down by 22% - what is the score now?

Zoo Digital – “confident in the prospects”, so why the share price slump?

Published 176 days ago

An AGM update from tv and movie subtitling and dubbing group Zoo Digital (ZOO) includes “we anticipate overall full year performance will be in line with expectations”. The shares have though responded to the update currently approaching 20% lower, at circa 140p. Hmmm…

Impellam – starts with Managed Services “ahead of expectations”… but it’s a profit warning!

Published 176 days ago

A trading statement from staffing and managed services company Impellam (IPEL) commences that “Impellam continues to make good strategic progress. Our Managed Services businesses in the UK and Australia are growing ahead of expectations as is the entire US business, on a like for like currency basis”. Sounds good then. The shares?... Er, currently down approaching 20% at around 500p!...

Directa Plus – do road test & CEO share purchase merit the shares soaring?

Published 177 days ago

Writing on graphene-based products company Directa Plus (DCTA) in June I questioned significant commercial progress? The shares have though soared today on “World's First Road Surface Containing Graphene” and “Director/PDMR Shareholding” announcements from the company…

Crawshaw – interims, a “change programme to restore growth and profitability”?

Published 177 days ago

Self-styled “the UK's leading value butcher”, Crawshaw (CRAW) has announced self-admitted “clearly… disappointing” results for its half-year ended 29th July but that new management “has completed its review of the business and is implementing its change programme to restore growth and profitability”. Hmmm…

Low & Bonar – I suggested profit warning, it reckoned greater weighting to the second half…

Published 178 days ago

In April the components of a trading update from Low & Bonar (LWB) saw me note a profit warning then, surely? Instead though the company went for “expects the group's financial results to have a much greater weighting to the second half than in the prior year”. With the shares then heading towards 50p, I concluded a second half reliance amidst clear challenges sees the stock on the bargepole list. Sell. Today another trading update…

CyanConnode – more ‘news’, when’s the attempted new funding then?

Published 179 days ago

“CyanConnode (AIM: CYAN), a world leader in narrowband radio frequency mesh networks, is pleased to announce the receipt of a $2.9 million purchase order for a five-year support and maintenance contract for an Omnimesh smart metering deployment by a State-Owned Utility in India” - and the shares have responded currently a further circa 10% higher, to above 13p, BUT…

Tanfield – “Snorkel Investment Update”, still a perennial dog’s breakfast, lunch & dinner?

Published 182 days ago

A simple enough-sounding “Snorkel Investment Update” from Tanfield Group (TAN), but then this company, previously described here as ‘perennial dog’s breakfast, lunch and dinner’, has found very little simple over the years – and the shares are down and well below 10p on this latest update…

Seeing Machines – not ‘pleased’ to announce results then?

Published 184 days ago

Seeing Machines (SEE), the “computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has published its audited results for the year to 30 June 2018”. Not ‘pleased’ to do so then? – though I note “highlights” emphasising “five program awards now under contract with global OEMs to be delivered through multiple Tier 1 automotive suppliers” and “revenue up 117% to A$30.7 million”

CyanConnode – India order & European office closure, how’s the funding situation?

Published 185 days ago

CyanConnode (CYAN) “is pleased to announce” both “the receipt of a $11.6 million purchase order relating to a smart metering deployment by an Indian state-owned utility” and “the consolidation of its European operations”. Hmmm…

RM2 International: A dreadful trading update – what a shock!

Published 196 days ago

Woodford’s month from hell has got off to a strong start with an immediate dog’s dinner of a revenue/profit warning from uber-dog RM2 International (RM2) this morning. Let’s take a closer look and count up all the negatives.

TLA Worldwide – from ‘looks forward with confidence’ to banking covenants breach “likely” & Nomad resignation in little more than 3 months!?

Published 199 days ago

Having previously really taken the biscuit with its 2016 ‘bury bad news’ Christmas sweepstake effort, today an intra-day (10:35am) “Trading and Business Update” from TLA Worldwide (TLA). I suggest these factors don’t bode well…

Filthy Forty Walcom – defaulting largest customer pays up….well £34k (still £632k due, further £92k falling due)

Published 199 days ago

ShareProphets AIM-China Filthy Forty play Walcom (WALG) – one of just seven remaining – announced yesterday that its largest customer had at last ponied up some cash. But it is only to the tune of about £34,000. Against a further approx. £632,000 owed and overdue, and another approx. £92,000 falling due by mid-month, that is a drop in the ocean.

Tesla - Musk’s Folly is Likely to Hasten the Endgame

Published 203 days ago

It’s looking increasingly like Elon Musk’s go private “funding secured” tweet on the 7th August has backfired horribly as Tesla (NASDAQ - TSLA) now trades $40 below the prevailing price before he sent it. I was recently accused of confirmation bias on Tesla, i.e. of looking only at the bear case and ignoring the positives but it is difficult post-tweet to find any bullish case that holds water.

Watchstone Group – H1 results argue “making good progress”. Really? And what’s the Rob Terry latest?

Published 204 days ago

The former Quindell of Rob Terry infamy, Watchstone Group (WTG) has announced results for the first half of 2018, including on outlook “we are making good progress in developing the underlying quality of our businesses and their long term value whilst simultaneously resolving the group's legacy matters as efficiently as possible. We remain confident of a satisfactory ultimate outcome for our shareholders”. Hmmm…

Toople – “Major Contract Win”. Just in-time for a major bailout financing?

Published 205 days ago

“Major Contract Win” announcement from Toople (TOOP) sees shares in the company currently soaring higher. What’s the detail?...

CSF Group – proposed AIM cancellation, a warning

Published 206 days ago

CSF Group (CSFG) has announced it is to call an EGM as it’s “proposed cancellation of trading on AIM”. The shares have currently responded more than 25% lower, to comfortably below 2p…

MediaZest – CEO share purchase… but small compared to his pay rise despite self-admitted financial results which “disappointed”!

Published 211 days ago

Having announced self-admitted financial results which “disappointed” for its year ended 31st March 2018 last week, MediaZest (MDZ) has now announced that CEO Geoff Robertson has increased his shareholding in the company to 6,683,188 shares (0.52%) following the purchase of 3,623,188 shares at 0.138p each. Good news? Er…

HaloSource – “significantly below” trading warning & more bailout funds needed; step forward you know who…

Published 212 days ago

Writing last month on HaloSource (HALO), I suggested to be wary of ‘pleasing’ news here as a next bailout fundraising looked necessary in the near-term. Yesterday, at an attempted no-one watching o’clock (6:09pm), an announcement; “Fundraise and Change of Adviser”

LiDCO – from “pleased with progress” in May to now “slow first half”!

Published 214 days ago

An update from LiDCO Group (LID) commences that the company “announces that it has had further success in the USA, contracting three additional customers to its recently launched differentiated High Usage Programme business model. HUP continues to build momentum after its launch in July 2017”. Sounds promising… so why, and particularly with the shares down from approaching 8p in May to below 6p, has the stock not responded positively?...

Mulberry – House of Fraser impact, but approaching £60m off the market cap merited?

Published 214 days ago

An update from luxury brand group Mulberry (MUL) commences it has considered the impact of recent developments at House of Fraser and “is expecting to provide £3 million for exceptional costs in the results for the six months to 30 September 2018”. But why a current more than 17% share price fall, wiping approaching £60 million off the market capitalisation?...

MediaZest – “pleased to provide shareholders with final results”. You sure?

Published 217 days ago

Writing on MediaZest (MDZ) in May it was 3 deals which were to usher in positive EBITDA closed. BUT…. Now “the creative audio-visual company, is pleased to provide shareholders with final results for the year ended 31 March 2018”. Not so bad then? Er…

Fusion Antibodies – “delighted” to present annual report following “successful” admission. Really?

Published 218 days ago

Fusion Antibodies (FAB) Chairman Dr Simon Douglas is “delighted to present the first annual report for the company following our successful admission to AIM in December 2017”. Hmmm - the shares are down on the announcement at 75p, comparing to a 82p listing price. “Delighted” and “successful”, you say?...

MBL Group – part one: notice to seek cancellation of AIM admission… though potential shareholder return hit

Published 219 days ago

Shares in MBL Group (MUBL) closed approaching 18% lower yesterday on the back of a 3:54pm “Cancellation of Admission & Notice of GM” announcement, which followed a 6:04pm “AIM Notice and Update on Proposed Cancellation” announcement on Monday…

Allied Minds - what's the real reason behind the results delay?

Published 221 days ago

Allied Minds (ALM) was due to release its interims at the end of this week but put out a rather strange statement this morning delaying it until the end of September. I thought it would be helpful to offer up an explanation as the situation is more complex and worrisome that this morning’s five-line announcement might indicate.

Hill & Smith – from ‘reconfirms its expectations’ to profit warning in less than 3 months (& should have been earlier!)

Published 226 days ago

Hill & Smith (HILS) has announced results for the first half of 2018 – and having updated on 17th May, “...project delays and the weather-impacted start to the year in the UK... Since mid-March, the group has experienced improved order intake across its UK road and utilities businesses while continuing to record strong performances in both the US and French operations. The board reconfirms that its expectations for the full year remain unchanged”, the shares are currently circa 20% lower on the day at around 1200p…

Tern – “cannot comment on external, independent, commentary, valuations or assessments of the Company and its investments”? Er....

Published 227 days ago

Back in 2015 AIM-listed Tern plc (TERN) responded to grenades from this website after we had exposed the “error” in an apparent valuation of Cryptosoft (now Device Authority) of $75 million when the company did a placing. It was a typo, and should have read $75,000 – and it wasn’t even a valuation. But Tern issued a Statement re share price movement which said there was nothing the company needed to announce and went ahead and did a placing, taking advantage of the hiked share price. The shares fell very sharply once the truth was out. And now we have “news” this morning. Is it too good to be true?

Ascent Resources – “pleased with the progress of the strategic review to date”. You cannot be serious!!!

Published 228 days ago

An “Operational Update” from Ascent Resources (AST) commences “as previously announced, the company commenced a strategic review in April 2018 to review the various options available for the company to maximise value for shareholders” and later includes “the board is pleased with the progress of the strategic review to date and discussions are ongoing with a number of different parties”. Good, good - ‘Pleasing’ progress towards maximising value for shareholders then… and the shares have currently responded… er, circa 40% lower towards 0.40p!?...

Seeing Machines – revenue “within the range of the previous guidance”. Er…

Published 231 days ago

A full-year trading update from Seeing Machines (SEE), the self-described “advanced computer vision technology company that designs AI powered operator monitoring systems to improve transport safety”, commences “total sales revenue was A$30.7 million, an increase of 127% year-on-year (2017: A$13.5 million) and within the range of the previous guidance published”. Sounds promising – so why a current more than 5% share price decline?…

Transense Technologies – “pleased to provide” trading update including second half was “in line” with the first. Hmmm!

Published 233 days ago

Transense Technologies (TRT) “is pleased to provide a trading update for the year ended 30 June 2018”, noting some revenues over 40% ahead of the prior year and “monthly recurring operating lease rental revenue at 1 July 2018 being over 200 per cent. higher than at 1 July 2017”. So is a muted share price response – and the shares down from 69.5p at the start of the year fair?...

Boxhill Technologies: Where’s all the client money gone – isn’t this just theft?

Published 233 days ago

Surprise, surprise, as predicted, despite the statements of Boxhill Technologies (BOX) to the contrary the day before that the audited results would be issued on 31 July, they failed to materialise and the stock has been suspended. Not bloody surprising though as the preliminary results are an absolute can of worms particularly the hole in the client accounts to the tune of a few million quid!

If You Made the Right Move Earlier, it Might be Time to Wave Bye Bye

Published 233 days ago

Hello Share Snatchers. Back in the fifties when dads were obeyed, pater urged me to be an estate agent. I'd rather be a reporter and I summoned enough courage to defy him. And jolly good too, as these days estate agents may be becoming a rarer species.

Standard-listed AIQ: interim numbers - SELL

Published 235 days ago

AIQ (AIQ) joined the Standard List in early January and spent most of the first four months of its life suspended due to a disorderly market, had to correct its admission document because it had missed out some information and steps had to be taken to remove some internet references to businesses which, we are told, it had nothing to do with. It was a shambles. This morning it released its interim numbers to April.

Boxhill Technologies - Yet another shocking related party deal as the wheels start to come off

Published 235 days ago

I commented at the start of the month (HERE) that it could be the end of the road for Lord Razzall and the gang at Boxhill Technologies (BOX) after a disappointing trading statement and I understand things are getting worse but before going into that, I need to cover the shoddy deal from earlier in the month in which yet another payment company is jettisoned!

5 Slam-dunk sells for 2018 – July update

Published 237 days ago

I suggested five stocks to sell for 2018 as part of the ShareProphets Christmas tipfest some seven months ago. This tale this month shows just how mad the AIM market is in this bull market: it seems that investors have simply lost their senses.

Hotel Chocolat – Scandinavian development agreement, ‘recent share price weakness unwarranted’? Hmmm…

Published 238 days ago

Shares in Hotel Chocolat (HOTC) are currently more than 5% higher, heading towards 350p, on the back of the announcement of a “Scandinavian Development Agreement”. Further gains to come?...

You say Facebook...and I say Fadebook

Published 239 days ago

Let's start off with a confession...I am actually not on Facebook (FB in the US) and have actually no real interest in ever getting a profile. Perhaps that makes me an unsociable Billy No Mates...or maybe it makes me a trendy young thing, aware that the creation of Mark Zuckerberg is looking a bit shabby around the edges after a last year full of privacy challenges, embarrassing Congressional testimony, two fingers to House of Commons committees and share sales by a certain M Zuckerberg. More on all this in a second. The reason why today I am ignoring the bevy of large cap UK listed stocks that have reported is because the most fascinating move in global markets over the last 24 hours was the after hours 20% plunge of Facebook shares post its quarter two numbers disclosure.

Countrywide – updates “slightly better than the guidance previously provided”. BUT…

Published 241 days ago

Countrywide (CWD), “the UK's largest integrated property services group, including the largest estate agency and lettings network”, has updated including “the adjusted EBITDA for the group for the six months ended 30 June 2018 was slightly better than the guidance previously provided” - and the shares have responded currently higher, back above 50p. However…

Tungsten Corp – full-year results argue “pleased to report on the progress made”, but balance sheet crunch ahoy?

Published 242 days ago

Tungsten Corp (TUNG) is “pleased to report on the progress made in the delivery of our strategic plan and the next phase in the development of Tungsten Network”, with it stating the first two “Financial Highlights” for its year ended 30th April 2018; “Revenue increased 8% to £33.7 million (FY17: £31.3 million); up 9% at constant exchange rates… EBITDA loss decreased to £4.6 million, a £7.2 million improvement from prior year”. Hmmm…

Audioboom – half-year results, “fully funded through to expected cash break even”. You sure?

Published 246 days ago

Podcasting platform company Audioboom (BOOM) has announced results for its half year ended 31st May 2018, including emphasising “revenue increased by 43% to £2.6 million (H1 2017: £1.8 million)… adjusted EBITDA loss reduced to £2.2 million (H1 2017: £2.6 million)… Fully funded through to expected cash break even”. Hmmm…

Initiating coverage of Versarien: SELL

Published 246 days ago

I’ve been following darling of the bulletin boards, Versarien (VRS) for some time finding the ever-increasing share price more and more incredulous. I thought I would use today’s results to take a closer look and come up with a considered valuation. In short, this appears to be the in the top 5 most overvalued shares on AIM – get out while the going’s good!

HaloSource – Woodford dog barks ‘pleasing initial orders’, but how’s the balance sheet? (AGAIN!)

Published 247 days ago

HaloSource (HALO) “is pleased to announce that it has received initial orders for its new astrea ONE lead filtering bottle from its first retail customer in the US”. Hmmm, promising or ramptastic?...

Hotel Chocolat – profit expected to “be in line with market expectations”, but that enough for the valuation?

Published 247 days ago

Previously writing on Hotel Chocolat (HOTC) it was interims emphasise “another period of strong progress”… but progress enough for the valuation?. Now a trading update for the company’s year ended 1st July 2018…

Premier Foods - can you pay your debts in cake?

Published 247 days ago

I commented on the lunatic management at Premier Foods (PFD) a couple of weeks ago HERE, who, after turning down a perfectly good bid, are circling the wagons against activist investors who want to help to start to create value by booting out the CEO. I could not agree more with their assertion that the CEO's tenure is 'five year of failure'...

Oh dear, why is everyone leaving Woodford’s Immunocore? Has the “unicorn hunter” struck again?

Published 247 days ago

I’ve touched on Immunocore a few times in passing as it one of the largest holdings in Woodford Patient Capital Trust (WPCT) as well as being the largest investment made by Dublin-listed Malin Corporation, of which Woodford is the largest shareholder, obvs! Well, it looks like it’s not a particularly happy ship and I wonder whether a (further) devaluation is required?

CyanConnode – “pleased to announce” a latest order. Hmmm - how’s that balance sheet?

Published 249 days ago

CyanConnode (CYAN) has updated that it, “the world leader in narrowband radio mesh networks, announces receipt of a purchase order from HM Power for a smart metering implementation for a Swedish utility”. This follows also since I previously wrote last month the company having “officially launched its cost-optimised standards-based Omnimesh smart metering application at Asia Utility Week in Bangkok”. Building momentum then? Er…

Such a High PE Suggests Caution for a Slowing Share Which Once Meant Massive Gains

Published 249 days ago

Hello Share Shifters. We all know the legend of ASOS (ASC), or as it used to be known in the early days of internet shopping, As Seen On Screen. The share rose from about 7p to £12 quid and then went even better. Almost everyone I know in share trading, including me, admits to selling the share too early. But now I think that the ship has sailed and that to buy more shares now might not be such a good idea.

Interserve - £35m contract: whoopiedoo, but it is insignificant

Published 253 days ago

When I first commented last October 15th on fully listed Interserve (IRV), it was sacking its old board and in a financial mess, and the shares were around £1. I said sell – and glory be, the shares sit this morning at about 60p after an RNS telling us of a new £35 million contract. The RNS strikes me as getting any good news out it can.

Big Sofa Technologies – I have not changed my view, still cynical, still a bear

Published 253 days ago

Just in case anyone thought I was getting less cynical with age following my earlier piece, I thought I would also update my thoughts on Big Sofa Technologies (BST) following all the recent news. In short, I remain as bearish as ever and think a cash crunch will be soon upon us.

Ocado – interims argue ‘beginning to change the way the world shops’. Beginning to translate financially then?

Published 255 days ago

Ocado (OCDO) has announced results for its half year ended 3rd June 2018, with CEO Tim Steiner reckoning “the success of our technology platform continues to be demonstrated… we are beginning to fulfil our ambition to change the way the world shops”. Is this also beginning to be demonstrated financially then?...

Tern – Waseem Shakoor taunts “ponzi”, shares continue to drift, still a sell

Published 256 days ago

AIM-listed jam-tomorrow investment company Tern (TERN) has been an amazing ride this year. Having started the year at 3p the stock went on a run all the way up to 58p, when the board had to issue a statement reminding the market that its NAV per share was still around the 5p mark. I called the stock a sell – at 43p – and now the stock is down to 25p. But it is still a sell.

Woodford’s unheralded cash-guzzlers Part 1: More cash please, Neil

Published 267 days ago

It’s undoubtedly been a good week for Neil Woodford, with the Autolus IPO getting off to a flying start and I also sense the Stobart tussle is moving in his direction too. Nevertheless, as I’m still in a grump about his shoddy debt non-disclosure last week, I thought I’d have a look through the Woodford Patient Capital Trust (WPCT) portfolio to see what else I could find as he’s always banging on about unicorns hiding in there somewhere.

Crawshaw – ‘AGM Trading and Strategic Update’, you were warned…

Published 268 days ago

I most recently warned on shares in self-styled “the UK's leading value butcher”, Crawshaw Group (CRAW) HERE. Today an “AGM Trading and Strategic Update”

Blue Prism Group – interims from a self-styled “global leader in Robotic Process Automation”. What sort of numbers then?

Published 269 days ago

“Blue Prism (PRSM), a global leader in Robotic Process Automation, is pleased to announce unaudited interim results for the six months to 30 April 2018”. What sort of numbers is such a self-styled “global leader” delivering then?...

Dillistone – from “increasingly confident… will be transformational” to “disappointing” in less than 7 months

Published 269 days ago

After June 2017 profit warning woe, a “GatedTalent demand surpasses expectations” announcement in December and “GatedTalent signs 100th client contract” announcement in February helped shares in Dillistone Group (DSG) go on to exceed 100p. There’s now an AGM trading update…

Koovs – it’s cash rather than social media reach which is currently critically important!

Published 270 days ago

Seller of “affordable western fashion in India online”, Koovs (KOOV) has followed an announcement last week of “partners with Bollywood icon Taapsee Pannu” with “GQ Best Dressed Kunal Rawal Joins Rush For Koovs”. Hmmm, ramptastic?...

Countrywide – “Capital Structure, Recovery plan & Trading Update” = Confetti Aplenty Ahoy, Changes due to poor trading & Profit Warning

Published 270 days ago

“Capital Structure, Recovery plan & Trading Update” announcement from Countrywide (CWD) – discounted fundraising ahoy to fund changes due to poor trading?...

Transense Technologies – General Meeting approval for new equity… but just how long will the new funds last?

Published 273 days ago

Transense Technologies (TRT) “is pleased to announce… application has been made for both the existing 9,548,948 ordinary shares (post share reorganisation) and the 2,500,000 placing shares to be admitted to trading on AIM”. This follows, on previously writing on the company in February, I questioning is it cash crunch ahoy?...

Koovs – agreement to buy media & advertising services… but isn’t it cash crunch ahoy?

Published 277 days ago

Seller of “affordable western fashion in India online”, Koovs (KOOV) “is pleased to announce… the company will acquire four £6m tranches of media from HT Media at six monthly intervals over a twenty-four-month period”. Hang on a minute, isn’t it cash crunch ahoy here though?...

ECSC Group – emphasises ‘strengthened momentum’, but still cash crunch ahoy?

Published 280 days ago

Previously writing on cyber security group ECSC (ECSC) it was on board changes - and I was scpetical in conclusion. Now, the shares are currently higher on an AGM statement…

Tungsten Corp – sack the board says Brexit loving hedgie Crispin Odey & bonkers company founder Edi Truell

Published 281 days ago

Tungsten Corp (TUNG) has noted recent press speculation and “confirms that Odey Asset Management LLP has indicated that it intends to propose resolutions to seek the removal of certain directors of the Board of the Company… The board regrets that this initiative has been taken at the moment that Tungsten has reached an inflection point”. Hmmm…

Connect Group – “materially” below profit warning… after an outlook “unchanged” just six weeks ago!

Published 282 days ago

Last year, after an April results announcement, Connect Group (CNCT) updated on trading towards the end of July. This year, with a results announcement on 1st May – when it was also announced that “Chief Financial Officer, David Bauernfeind, has decided to step down from his role and the board to pursue a new opportunity”, a further “Trading Update” already. Uh oh…

CyanConnode – attempts to mitigate with it cash crunch & AGM ahoy

Published 283 days ago

Having announced results little more than 3 weeks ago, now a “Pre-AGM Update” from CyanConnode (CYAN) – the AGM though not until next week. A significant development then?...

LightwaveRF – from “real energy and excitement” to CEO ‘stepping down’ in less than two weeks!

Published 283 days ago

In December on LightwaveRF (LWRF) I noted that prior to a £5 million discounted fundraising it was cash crunch ahoy, though March-appointed CEO Andrew Pearson “look(s) forward to building a great company in the rapidly growing smart home market”. Less than two weeks ago Pearson talked of “real energy and excitement within the company as we work to leverage our market leading technology”. Now a Board Changes announcement…

XLMedia – argues “stable” underlying trading… so why a 30% share price decline?

Published 284 days ago

Trading update from self-styled “a leading provider of digital performance marketing”, XLMedia (XLM) includes “underlying trading in the year to date has been stable with the group actively deciding to focus on higher margin business and ceasing certain lower margin media buying activities”. Hmmm, so why a current approaching 30% share price decline, towards 120p?...

Time Out Group – Woodford dog argues “continues to trade well”. Really?!

Published 287 days ago

Media and entertainment group Time Out (TMO) has updated including “the group continues to trade well” and “we remain confident in meeting our strategic and financial goals for the year”. The shares have responded currently approaching 4% higher, to 83p, but why (other than natch, with Woodford Investment Management a significant shareholder), are they still down from a 150p June 2016 IPO and above 130p at the commencement of this year then?...

Sabien Technology – “New Order Received”, a 2017 sell tip of the year update

Published 288 days ago

2017 sell tip of the year at a 3p bid price from myself, Sabien Technology (SNT) has today made a “Corporate Update New Order Received” announcement…

Autins Group – ‘remained confident in our strategy’ in February, but now…

Published 289 days ago

A February AGM statement from automotive acoustic and thermal insulation group Autins (AUTG) included “we delivered strong top line growth in FY2017 and are seeing this continue during FY2018 although still very much re-iterating that we expect a significant second half weighting to results… the board remains confident in our strategy” and on Friday there was a routine Notice of Results announcement. Now an Update on Full Year Expectations and OEM Approvals. Hmmm…

Tungsten Corp – emphasises “operated profitably”… but has it really (with revenue growth below expectations)?

Published 291 days ago

Tungsten Corp (TUNG) has updated on trading for its year ended 30th April 2018, including emphasising “operated profitably over January to April 2018 period”“adequate working capital” and “our trade financing activities are growing rapidly”. Sounds promising…

Woodford Patient Capital Trust – Anyone fancy a low-risk 10% per annum return?

Published 291 days ago

I’ve been meaning to write about the outrageous risk profile assigned to Woodford Patient Capital Trust (WPCT) for a while as it is patent nonsense and dangerous. I wonder whether there could be a mis-selling claim waiting to happen here.

Advanced Oncotherapy – hands up who knew Bracknor still had death spiral loan notes!

Published 295 days ago

AIM-listed Advanced Oncotherapy (AVO) announced this morning that Bracknor, the death spiral funder, still had convertible loan notes to swap for shares. This, despite the RNS of 19 July 2017 telling us that the Company does not intend to use the Bracknor facility in the future. As part of these arrangements the Company will issue 7 million warrants to Bracknor. These warrants are exercisable at 25p and may be exercised at any time over the next five years. Anyone would have thought that was the end of the matter. Apparently not.

Restore plc – AGM “trading has started satisfactorily” update, so why the share price decline?

Published 305 days ago

An AGM update from Restore (RST) includes “2018 trading has started satisfactorily across the group and our expectations for the full year remain unchanged… We look forward to delivering another year of progress” - and the shares have currently responded more than 6% lower, to 516p. Hmmm…

CyanConnode – 2017 results argue “significant progress”… but later admit it’s cash crunch ahoy!

Published 305 days ago

Self-styled “the world leader in narrowband radio mesh networks”, CyanConnode (CYAN) has announced results emphasising “2017 has been a year during which we have both made significant progress within the company in terms of winning orders, growing our global ecosystem of partners, expanding our geographical reach, and putting in place a world class team to develop product and deliver on the order book which has grown significantly during the period”. Er, ok. What about financially?...

Blue Prism – argues ‘strong momentum’, but follow the CTO, Sales director & ‘Chief Evangelist’?

Published 309 days ago

Blue Prism (PRSM), “a global leader in Robotic Process Automation, is pleased to announce a pre-close trading update in respect of the six months ended 30 April 2018”. Ooooh - a more than £1 billion capitalised “global leader” pleased to update, should be good then…

Ten Lifestyle Group – interims emphasise “increase in member satisfaction levels”, what about shareholders'?

Published 310 days ago

Having IPO’d on AIM at 134p per share in November, ‘lifestyle’ and travel concierge services group Ten Lifestyle (TENG) has announced results for the six months ended 28th February 2018. These include CEO Alex Cheatle “delighted with the increase in member satisfaction levels” and “as convinced as ever about the significant market opportunity and Ten's growth potential within that market as well as our ability to generate value for our shareholders”. The shares are currently at, er, 97.5p…

Servoca – minority shareholders screwed as it’s AIM cancellation ahoy

Published 312 days ago

Shares in “specialist outsourcing and recruitment solutions provider” Servoca (SVCA) are currently more than 20% lower, at 13.5p, on the day on the back of a “Proposed cancellation of trading on AIM” announcement…

Photonstar LED – shares having soared ahead of new product. Guess what?

Published 323 days ago

Previously writing on Photonstar LED (PSL) just over two months ago, I suggested £0.43 million of funds then raised not likely to last long. Recently though, ahead of a release of its “next generation halcyon cloudBMS product”, the shares have soared and thus surprise, surprise…

Telit – dire 2017 results, it argues now “well positioned”, but there red flags aplenty

Published 326 days ago

Telit Communications (TCM) has announced results for the 2017 calendar year, emphasising “trading in the first quarter of the current financial year was strong and well ahead of last year… we are confident that our performance in 2018 will significantly improve and see double-digit growth, stabilised gross margins and the implementation of cost optimisation”. Hmmm, “significantly improve” from where? And how’s that balance sheet?..

Woodford Patient Capital Trust: The Big Short (March updates) – WTF happened to the “hard” 10% unquoted limit at the Equity Income Fund?

Published 330 days ago

There’s been a lot to comment on relating to Woodford Capital Patient Trust (WPCT) recently but with the March portfolio updates for all of Woodford’s funds finally being published on Monday, I thought I should get my updates out as Woodford appears to have been a bit preoccupied to do so with a minor biotech blip and the like.

Koovs – share price excitement dampened as it currently remains cash crunch ahoy

Published 337 days ago

“Share Price Movement and Interim Funding” announcement from India online fashion retailer Koovs (KOOV). Hmmm, “interim funding” hey…

Itaconix – Q1 trading update, ‘More cash please, Neil’ indeed!

Published 340 days ago

Self-styled “a leading innovator in sustainable performance polymers”, Itaconix (ITX) has announced a trading update for the first quarter of 2018 trumpeting “despite adverse currency movements, group revenue has increased 8% year-on year in the first quarter of 2018”. Sounds decent enough so far…

Is Greene King's Grass Greener Down the Grassy Road to Riches? Perhaps Not

Published 340 days ago

Hello, Share Snackers. Before now, I’ve commended shares in Greene King (GNK). Eating out in pub chains is usually cheap and cheerful and ideal for treating families who don’t particularly relish gourmet food. But after seeing its latest set of figures I’ve rather changed my mind.

Low & Bonar – reports Q1 revenue increase, why are the shares slumping?

Published 343 days ago

Low & Bonar (LWB) has updated commencing “group revenue has increased in the first quarter of the year, despite challenging market conditions in Europe and the USA, led by growth in both the Building & Industrial and Interiors & Transportation businesses”. I though note the shares already down from over 80p in October and currently a further circa 7% down today, heading towards 50p…

SHOCKING: Woodford and Benevolent AI – Has Neil really been forced to give away his shares for free??

Published 344 days ago

I’ve been wondering for a while how Neil Woodford was going to deal with the impending crisis at his flagship Equity Income Fund in relation to the hard, unquoted stock limit of 10% and with all his Get Out of Jail cards used up. Filings at Companies House seem to indicate that he was left with one last option – giving his shares back to the company at nominal value!

Kibo Mining: “Company Update” – could this be the news we’re all waiting for? Oh…..

Published 344 days ago

Louis Coetzee is clearly a bit of a tease. On Tuesday, Kibo Mining (KIBO) was expected to update its investors on ongoing Power Purchase Agreement discussions and things looked promising when it issued a Company Update at 2pm... only for all shareholders to be bitterly disappointed by yet another discounted placing! What is going on Louis?

ASOS – H1 results argue “further progress with a strong trading performance”, why does the market disagree?

Published 345 days ago

Online fashion retailer ASOS (ASC) states it “reports further progress with a strong trading performance for the six months to 28 February 2018”. The shares have responded, er, currently quite a percent lower…

EXCLUSIVE: Daniel Stewart reveals all (unintentionally of course!)

Published 345 days ago

I had to laugh at the basket case that is the stockbroker Daniel Stewart as it finally came out with the accounts for its trading subsidiary, Daniel Stewart & Co (DSAC), for the year to 31 March 2016, not just as it shows how worthless Rob Terry’s holding is but also, being such a quality outfit, it accidentally provided much more information than it intended to. It is worth taking a look before Daniel Stewart corrects it.

Appscatter: Significant acquisition and fund-raise – history repeating itself so far

Published 345 days ago

I initiated coverage on Appscatter (APPS) when it came to market last September with a few warning signs and a nervousness that history could repeat itself to the detriment of its shareholders. Well seven months in and a potential acquisition accompanied by a massive fund-raise announced (obvs), I thought I should update my thoughts.

Nakama Group – “Corporate update and director resignation”. Uh oh…

Published 347 days ago

I previously wrote on recruitment group Nakama (NAK) a couple of years ago – the shares then approaching 27% lower, heading towards 2p, on a trading update which featured management-speak shite & is shite!. The shares are today currently heading lower towards 1p on the back of a Corporate update and director resignation

ECSC Group – ‘Board Changes’ from what is another tale of AIM IPO shame. Good news then? Er…

Published 351 days ago

Writing on 2017 results from cyber security group ECSC (ECSC) last month I noted a significantly increased loss as planned investment was delivered but the planned growth not and a fast-depleting balance sheet. Today a “Board Changes” announcement. Good news then? Er, the shares have currently responded a further 25% lower on the day, to 75p…

Why I'm Not in a Feverish Rush to Buy this Seemingly Over-Fizzed Share

Published 352 days ago

Hello Share Masters. At the big UK Investor Show last time, Uncle Tom launched a big demo on stage to see if one brand of tonic water was better than the more common kind. I think he may have been surprised when all but one of the audience he dragged up voted that Fevertree (FEVR) tonic water tasted better than the other brand on offer.

Sky - post Bank Holiday brain cell-sapping statement

Published 353 days ago

I wrote just over a month ago, urging you to sell your Sky (SKY) shares and today's post Bank Holiday brain cell-sapping statement reiterates this for me.

DEADLINE MIDNIGHT TONIGHT: Competition Time: The Woodford Easter Quiz – Odd One Out

Published 355 days ago

It being a major religious festival, I thought it appropriate to serve up another Woodford-related quiz. Simple on the face of it, just tell me which of the sixteen graphs below is the odd one out and why - a full answer is required other than the obvious. A chocolate gift to anyone who can go one better than that and name all sixteen companies. To assist on one of them, the graph is pre-share consolidation earlier this year.

Time Out Group – Woodford’s involved... so 2017 results cash burn aplenty?

Published 359 days ago

Media and entertainment group Time Out (TMO) joined AIM at 150p per share in June 2016 and, despite the shares having recently slid to 130p, reckons “clear progress has been made in 2017”. Hmmm…

Quartix – a month after emphasising “confidence” & 2 weeks after a management share sale… a trading warning!

Published 360 days ago

Trading Statement announcement from Quartix Holdings (QTX) commencing “the board reports that trading for the two-month period to 28 February 2018 was in line to deliver management's expectations for the full year. The company has made excellent progress in its core fleet business in the USA and France since the start of the year”. Sounds fine then, but what?... the shares currently more than 10% lower, at around 340p, in response? Hmmm…

Inspirit – all’s quiet: signs of a problem?

Published 366 days ago

I note that things have been very quiet of late over in the boiler room of AIM-listed Inspirit Energy (INSP). Normally that might be seen as a good thing – the company quietly getting on with making shareholders money, and not getting bogged down in ramptastic RNSs. But I wonder if there is a nasty brewing here...

Etaireia Investments: So Baron Bloom is a fraud apparently and steps down – no shit! What has NEX Regulation been doing here?

Published 367 days ago

Hat tip to The Times for running part of this story on Monday but considering I’ve been warning about the Baron Bloom / Oli Fattal property venture, Etaireia Investments (NEX:ETIP) for two years (HERE), I thought I’d join in the fun as Baron Bloom has fallen foul of one of Sam Antar’s ‘three exes”, namely his, soon-to-be, ex-wife who has been spilling the unseemly beans in their divorce case. Bloom has been called out as a total fraudster and has stepped down from Etaireia as a result.

OneView Group – ‘Short Term Loan Facility’ (again!)… What beyond this?

Published 371 days ago

I’ve been warning on OneView Group (ONEV) since it went from “remains confident” in September 2016 to “likely to be below market expectations” the following month! The shares had then been hit to below 4p… But they’re now circa 12p aren’t they? A September 2017 10-to-1 share consolidation though needs to be factored in - and today there’s a 10:21am Short Term Loan Facility announcement…

Corero Network Security – ‘Customer Wins’, though still what about the cash crunch ahoy?

Published 373 days ago

Customer Wins announcement from Corero Network Security (CNS). When I last updated in January it was “Significant Contract Wins”. Hmmm, what about the cash crunch ahoy?, so what now?...

ECSC Group – 2017 results, further share price decline – you were warned

Published 374 days ago

Cyber security services group ECSC (ECSC) has announced results for 2017 including noting “corporate decision-making cycles have been longer than anticipated”, but with CEO Ian Mann arguing “following a year of transformation, ECSC now has a platform to pursue the opportunity in the cyber security market”. Hmmm…

HaloSource – proposed re-domicile, wonder what’s to soon follow?

Published 375 days ago

Previously writing on HaloSource (HALO) last month, I noted developments again pointing to tight financials. There’s now a further announcement from the company…

Starcom – 2017 results, including “it is regrettable that inaccurate information was published”!

Published 378 days ago

Writing on Starcom (STAR) last month it was from “breakeven position or a small loss” to now a loss “materially higher” than this – with a placing inbetween!. The remote tracking and monitoring technology company has now announced its 2017 results…

OneView Group – do latest updates support this as “leading provider” to the retail industry?

Published 385 days ago

Previously writing on OneView Group (ONEV), it was ramptastic “Commencement of Australia Post Project” RNS. Wonder why? This week has now seen Short Term Loan Facility and CEO Appointment announcements…

Starcom – from “breakeven position or a small loss” to now a loss “materially higher” than this – with a placing inbetween!

Published 393 days ago

On 18th January Starcom (STAR) was “pleased to provide an update in respect of the results for the year ended 31 December 2017, which are subject to final audit… it is anticipated that the consolidated net profit after tax will show a breakeven position or a small loss”. It was then placing ahoy. Now “although the audit process is not yet completed, it has become clear that the final results for 2017 will differ materially from those previously anticipated in that announcement”. It better hope in a good way then…

Hotel Chocolat – interims emphasise “another period of strong progress”… but progress enough for the valuation?

Published 394 days ago

Chocolatier and retailer, Hotel Chocolat (HOTC) has announced results for its half year ended 31st December 2017, including emphasising “another period of strong progress… with growth in both sales and profits” and “a strong differentiated brand which offers great products and customer service and that is priced as an affordable luxury, gives the board confidence in the group's continued progress”. So why have the shares responded lower, towards 300p?...

Earthport – argues “confident”… though now increased loss follows CEO, CFO & a NED recently departing their roles!

Published 400 days ago

Payment network company Earthport (EPO) is “pleased” to provide a trading update for its half year ended 31st December 2017, including “we are confident that our core services remain strong and are of increasing importance in the changing payments landscape”. Sounds encouraging…

HaloSource – expected Astrea launch in USA… but how’s this Woodford dog's cash position?

Published 401 days ago

Previously writing, at the end of 2017, on HaloSource (HALO) it was a trading warning before a latest bailout from Woodford & co even approved. Today sees a further 2018 announcement from the company…

Itaconix – a “proprietary process with break-through economics”… as the shares break-through an 18% decline

Published 402 days ago

Itaconix (ITX) states it uses a “proprietary process with break-through economics to produce unique or enhanced ingredients for the homecare, personal care and industrial markets”. ‘Break-through economics’ hey, let’s take a look at its trading update for the 2017 calendar year – with the shares currently ‘breaking-through’ an 18% decline on the back of it…

Transense – interims argue “continue to view the future with cautious optimism”… but is it cash crunch ahoy?

Published 408 days ago

Sensor systems technologies company Transense (TRT) has announced results for its half year ended 31st December 2017, including emphasising “significant market traction for both tyre probes and the iTrack II system for mine haul trucks”. Sounds encouraging…

Mobile Streams – argues ‘huge opportunity’… but it’s current decline & cash crunch ahoy!

Published 413 days ago

I concluded in December on mobile content company Mobile Streams (MOS) that there didn’t look a great situation at present in the currently key India market and that I continued to avoid. There’s now a 09:30am Trading Statement

Woodford and Capita – Strike two: a few observations

Published 414 days ago

My conclusion to The Big Short series over Christmas was that although it was a long-term play, Neil Woodford was only a few pieces of “bad luck” away from a speedier, more dramatic implosion. This week’s Capita (CPI) news is the second of those already and we’re only one month in. Further to the excellent pieces on Capita yesterday (HERE and HERE), a few further observations on the wider Woodford story from me.

Photonstar LED – a disposal, but also roll-out delays – still cash crunch ahoy?

Published 415 days ago

Photonstar LED (PSL) has announced what it argues is “a further step towards PhotonStar's strategy of transforming the group into a software and services business, focused on lighting and building management as a service”, together with a Trading Update

OneView Group – ramptastic “Commencement of Australia Post Project” RNS. Wonder why?

Published 416 days ago

OneView Group (ONEV) “is pleased to announce that it has commenced a project with the Australian Postal Corporation (Australia Post)”, with CEO Stuart Mitchell adding “we have been engaged in a vendor evaluation process with Australia Post for over twelve months and are delighted to have been selected for this sole source contract”. Certainly sounds good, what’s the detail?...

Time Out Group – “couldn't be more proud of where the brand stands”, what about the financials?

Published 421 days ago

Time Out Group (TMO) has updated on the 2017 calendar year in an announcement headlined “Time Out delivers strong progress” and including “revenue is expected to have increased by 19% year-on-year on a proforma basis with strong growth across both Time Out Digital and Time Out Market”

OneView Group – having raised £3.9 million in June… has now needed to take a short-term loan!

Published 422 days ago

I previously wrote on OneView Group (ONEV) in February; following ramparoonie, admits “now considering an equity fund raising” (natch). It subsequently raised £3.9 million at 1.5p per share, a 25% discount (there has since also been a 1-for-10 share consolidation), with CEO Stuart Mitchell stating “since inception we have been consistently undercapitalised and look forward to putting these funds to work to propel our growth forward in the interests of all our stakeholders”. There’s now though an announcement of “Short Term Loan Facility”!...

EMIS Group – a tough market backdrop… and things just got worse

Published 428 days ago

Trading Statement from EMIS Group (EMIS) commences “trading for the year has been in line with the board's expectations”. Ok… “(excluding the impact of the service level reporting issues separately announced this morning)”. Uh oh…

ECSC Group – “pleased to announce” trading “in line”, so why a c. 20% share price fall?

Published 436 days ago

Cyber security services group ECSC (ECSC) has updated, including that it “is pleased to announce that trading performance for the 12 months ended 31 December 2017 was in line with market expectations”. So why a current circa 20% share price decline, below 200p?...

Ilika – interims, more funding to again be needed? Larger capacity batteries the fuel?

Published 437 days ago

Self-described “pioneer in solid-state battery technology and materials innovation”, Ilika (IKA) has announced results for its half year ended 31st October 2017 emphasising that it “has delivered a series of Stereax development and deployment partnerships which are driving revenue growth and enhancing insight into the addressable sectors for its technology”. Sounds promising…

Tasty – 2017 trading update states “in line”, so why the precipitous share price decline?

Published 437 days ago

Trading Update for the 2017 calendar year from Tasty plc (TAST) includes that “trading for the period has been in line with expectations”. However, the shares are currently a further more than 5% lower below 30p having commenced 2017 at more than 140p. Hmmm…

Tern: draws second tranche of death spiral loan early…TIMBER!!

Published 437 days ago

AIM-listed Tern (TERN) has announced that it has drawn the second tranche of its death spiral loan early. The first tranche saw Tern’s stock marched down from over 5p to as low as just 1.75p. The starting point for tranche two is just under 3p and the shares have already notched up a low of 2.125p, although they have recovered to 2.5p as I write.

Insanity at FastForward Innovations, someone is definitely smoking something!

Published 441 days ago

Madness is afoot at FastForward Innovations (FFWD) with the excitement about the impending listing of its cannabis play, Nuuvera, driving the share price up as high as 30p yesterday. This makes no rational sense as I will endeavour to explain but the summary is simple – if you like Nuuvera, buy it in the market for its market value rather than at 4-5 times its value!

Applied Graphene Materials – argues at AGM “pleased with the progress”, BUT…

Published 443 days ago

With “the number of active engagements increased significantly in the year and currently stands at around 100”, an AGM statement from Applied Graphene Materials (AGM) emphasises “the board remains pleased with the progress that the group is making towards the commercialisation of its products and proprietary technologies… Following on from our initial production orders the business secured additional production orders”. Sounds encouraging…

Corero Network Security – “Significant Contract Wins”. Hmmm, what about the cash crunch ahoy?

Published 443 days ago

Corero Network Security (CNS) “is pleased to announce” combined customer orders “worth in excess of $400,000 for SmartWall products and related one-year support services”. What’s the detail and import of this?...

HaloSource – before (latest) bailout from Woodford & co even approved, an attempted no-one watching o’clock “Trading Update”. Uh oh

Published 449 days ago

In September I noted on HaloSource (HALO) Woodford dog barks “very pleased with the progress”… but then admits it’s set to be cash crunch ahoy AGAIN!. There then followed a flurry of ‘news’… then surprise, surprise a fundraising… And now an attempted ‘no-one watching o’clock’ Trading Update. Uh oh. Trading warning ahoy?...

Koovs – interims, “pleased with the progress we have made in our business fundamentals”. Really?

Published 458 days ago

Online fashion retailer focused on India, Koovs (KOOV) has announced results for its half-year ended 30th September 2017 – including CEO Mary Turner “pleased with the progress we have made in our business fundamentals”. Sounds encouraging…

Earthport – from a placing & “we look forward to FY2018 with confidence” to trading warning in a couple of months!

Published 459 days ago

On an early October £25 million placing at 20p per share, Earthport (EPO) CEO Hank Uberoi was “very pleased to announce this placing… we truly appreciate the support of our existing shareholders and a number of new institutional investors” and in end of that month results “look forward to FY2018 with confidence in both our operational and financial performance”. We now have a Trading Update and Directorate Changes announcement...

SDL – following an August profit warning...

Published 462 days ago

“SDL plc (SDL), a leader in global content management and language translation software and services, is providing an update on the trading performance for year ending 31 December 2017. SDL's sales pipeline for the period is in line with expectations. However,”… Uh oh.

Luceco – a profit warning three weeks after CEO share sale… but he clearly not guilty of insider dealing

Published 462 days ago

On 24th November CEO of LED lighting and portable power products and wiring accessories company Luceco (LUCE), John Hornby sold £4.69 million of shares at 234.53p each “principally to settle personal tax liabilities” - and “for further information” it was to “contact David Main, Chief Financial Officer”. Today, three weeks later, there’s a “Trading Update” announcement. All good then you’d presume.

Corero - not just a contract win, but a “Significant Contract Win”. Ramptastic again?

Published 463 days ago

Not just a contract win, but a “Significant Contract Win” announcement from Corero Network Security (CNS). Ooooh. With results for the first half of 2017 having shown an increased loss of $4.8 million on revenue only slightly higher to $4.8 million – and this following a more than $8 million loss, even on an adjusted basis, for the 2016 calendar year, what’s the “significant contract” detail?...

Best of the Best – increases VAT recovery claim, but hit by currently expected impact of Remote Gaming Duty

Published 463 days ago

An “Update on VAT Claim and Share Buy-Back” announcement from competitions to win luxury cars company Best of the Best (BOTB). This includes that the company intends to conduct buy-backs of shares for cancellation “as and when they become available at volumes and prices that, from time to time, the Board of BOTB considers appropriate”. So a good tax update then? Er…

Time Out Group – New Time Out Market Chicago to ‘continue the success story’. Hmmm…

Published 466 days ago

Time Out (TMO) “is pleased to announce that it has signed a conditional lease agreement for a new Time Out Market in Chicago”, with the group’s CEO Julio Bruno emphasising “we now have a roster of Time Out Market openings in some of the most exciting cities around the world and we are looking forward to them continuing the success story we started with Time Out Market Lisbon”. Hmmm…

Accrol – shares bounce on General Meeting refinancing approval. BUT…

Published 468 days ago

Accrol (ACRL) has announced General Meeting refinancing approval – and the shares have responded 5.5% higher to 43p. However, I remind there are still significant reasons for caution here…

STM Group – Gibraltar legal & regulatory issues, where now?

Published 469 days ago

I previously wrote on cross-border financial services provider STM Group (STM) in March with the shares around 35p – this following I having last year suggested that those looking for a small speculation could do a lot worse at 38.5p and subsequently updating HERE and HERE. The shares were above 50p last month until Director Declaration and Inspectors Appointment announcements…

Imaginatik – interims, argues ‘encouraging momentum’ so why are the shares sliding further?

Published 469 days ago

Innovation technology and consultancy company, Imaginatik (IMTK) has announced results for its half-year ended 30th September 2017 – and, despite the inclusion of the likes of “the momentum seen towards the end of the period has continued through to the start of the second half of the year” and “the market opportunity for Imaginatik remains large and increasingly mainstream”, the shares are 18% lower towards 1p…

HaloSource - Africa launch ‘news’… but what about the cash crunch ahoy?

Published 472 days ago

HaloSource (HALO) has announced that “its patented, best-in-class HaloPure disinfection technology is being utilised to power a line of purifying pitchers sold in retail outlets across South Africa by H20 International… Marks the first sale of HaloPure-powered devices on the African continent” - and the shares have currently responded more than 15% higher towards 2p. Ramptastic!...

Intercede – new contracts… but take a look at the balance sheet

Published 473 days ago

Intercede (IGP) has announced “a contract with a UK Government Ministerial department”, following half-year results and “a contract with a large European bank” last week…

Torotrak – you were warned, requires fire sale miracle or it’s administration ahoy

Published 476 days ago

Previously writing on Torotrak (TRK) in July I noted hopefully warnings heeded – it’s cash crunch ahoy!. The crunch was noted earlier this week (see HERE) - and now a further financial position update from the company…

CVS Group – AGM commences “pleased to announce” re. sales, so why are the shares slumping?

Published 477 days ago

Shares in veterinary group CVS (CVSG) are currently sliding despite an AGM Statement commencing “the board is pleased to announce that in the four month period ended 31 October 2017 the group's total sales grew by 20.6% and like-for-like sales grew by 4.3% compared to the same period last year”

HSS Hire – “decisive actions return group to profitability”. Really?

Published 478 days ago

A trading update announcement from tool and equipment group HSS Hire (HSS) is headlined “Decisive actions return Group to profitability” - and the shares have currently responded higher. However, down from above 80p at the commencement of 2017, they are only up 1p presently on the day at 29p…

WYG – I did warn… profit warning (again!)

Published 483 days ago

Previously writing on WYG plc (WYG), I questioned in August further profit disappointment ahoy, concluding with there still looking a lot of hope in the even materially lowered full-year forecast, I continue to avoid. The shares had recovered from a close then of 54p to 67p, but that before a further trading update today…

Mothercare – interims emphasise “progress”, so why are the shares a further more than 16% lower?

Published 484 days ago

A half-year report from Mothercare (MTC) includes “we are on track with our transformation plans for our business, with like-for-like sales in the UK growing 2.5% and gross margins up by 34 bps year on year, in the first half. Across the business, we continue to invest and make progress, developing the Mothercare brand into a digitally led, global specialist”. So why are the shares currently a further more than 16% lower, at circa 70p?...

Ilika – trading update offers more jam tomorrow, whilst today more cash burn ahoy

Published 485 days ago

Self-described “pioneer in materials innovation and solid-state battery technology”, Ilika (IKA) has updated on its half-year ended 31st October 2017, including CEO Graeme Purdy commenting “our proven innovation engine for novel functional materials has been firing on all cylinders in the first half of this year”. What has tangibly been delivered though Graeme?...

Jaywing – interims include “substantially below” warning, where was a timely update?

Published 486 days ago

Self-described UK “specialist in data science led digital marketing”, Jaywing (JWNG) has announced results for its half-year ended 30th September 2017 including “since the election was called in the Spring we have seen consumer-led businesses in the UK grapple with difficult trading conditions… their first action has been to cut costs, including marketing costs”. That doesn’t bode well here…

Accrol – bailout fundraising… at half of IPO price of only 17 months ago!

Published 487 days ago

With it shares having been suspended in early October “pending clarification of its financial circumstances”, today a “Proposed Placing of £18m and Lifting of Suspension” announcement from Accrol Group (ACRL). Good news then? Well…

Nanoco – full-year results. “A pleasure to introduce”, Really?

Published 491 days ago

Nanoco Group (NANO) “is pleased to announce its preliminary results for the year ended 31 July 2017” and Chairman Dr Christopher Richards states “it is a pleasure to introduce Nanoco's results for the year to 31 July 2017”. Should be encouraging then…

Good News on Telit - the borrow is back. Sell with vigour

Published 518 days ago

I wrote that I would not comment again on the Internet of Things company Telit Communications (TCM) until borrow became available again. The recall of borrow, it will be remembered, along with buying by various parties such as Davide Serra (the self-regarding nincompoop who complained to both the SEC and the FCA about the truth being told about the Quindell fraud in which he was foolish enough to have a sizeable holding), caused the share price to almost double recently. The good news is that borrow is now possible and the shares are unsurprisingly on the slide. They should be sold with vigour.

Nanoco – as warned, discounted placing ahoy!

Published 532 days ago

I noted in an update on Nanoco (NANO) last month that “Commercial Supply and License Agreement” saw the shares bouncing a bit, but the key question remained when’s an attempted fundraising? (discounted, natch). Well, the company has now been “pleased to announce” a placing result and researcher Edison has updated…

Time Out – lease agreement for another site for what it describes as “the highly successful Time Out Market concept”. Hmmm…

Published 536 days ago

Time Out Group (TMO) has announced the signing of a lease agreement for another site for what it describes as “the highly successful Time Out Market concept”. Hmmm…

Hotel Chocolat – full-year results, is the share price recovery justified?

Published 538 days ago

In July, previously writing on Hotel Chocolat (HOTC) I noted trading update omissions and retained previous caution with the shares higher at circa 335p. They would fall towards 250p, but have recovered to a current 306.5p on the back of the results announcement for a 53 week period to 2nd July 2017…

Photonstar LED – interims; despite delay of roll-out May placing was stated to be for, guess what?

Published 539 days ago

Results for the first half of 2017 from PhotonStar LED (PSL) include that “during H1 2017 steady progress has continued to be made in transitioning the group into becoming a retrofit connected lighting and building management business” and that “we… believe… we are now well positioned to achieve the successful delivery of Halcyon” (the company’s ‘Internet of Things’ platform for retrofit into commercial buildings). The shares have responded, er, more than 30% lower to 0.825p…

ECSC Group – having only IPO’d on AIM in December, ANOTHER trading warning & IPO roll-call of shame…

Published 541 days ago

Having IPO’d on AIM in December at 167p per share with CEO Ian Mann stating “we are excited by the opportunities that now present themselves”, shares in cyber security group ECSC (ECSC) were 450p before a June trading warning. Now worse has followed…

Time Out – after a ‘trading update’ with nothing below the revenue line, “pleased to announce” interims. It shouldn’t be…

Published 541 days ago

I previously wrote on Time Out Group (TMO) following a “trading update” for the first half of 2017 – noting that below the revenue line there wasn’t any detail provided, perhaps something to do with a house broker forecast for a full-year adjusted pre-tax loss of £19.5 million? The company is now “pleased to announce its unaudited half year results for the six months ended 30 June 2017”

Nanoco – “Commercial Supply and License Agreement”, but no financials when they’re desperately needed

Published 560 days ago

Nanoco (NANO), describing itself as “a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials”, has announced a “Commercial Supply and License Agreement”. Oooh, “commercial” hey – what’s the detail?...

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