Results

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

Published 5 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…

Woodford Revolutionary Pharma-Dog Verseon launches blockchain nonsense. (PS- have you got $10m Neil?)

Published 7 days ago

In my piece of 24 January I predicted that AIM-listed Neil Woodford dog Verseon (VERS, but formerly VSN) would need more cash and this morning it announced its intention to raise $10 million through a subscription “for working capital” (yeah, more like ongoing losses…) Oh, and it wants to raise funds from a global investor base into its new blockchain security. Oh goodie, where do I sign up?!

Paragon Entertainment – “pleased to announce” share subscription… but is it sufficient?

Published 11 days ago

Writing on Paragon Entertainment (PEL) last month I noted it “looking closely at ways of bringing longer term capital into the business” – though concluded at what price?… Now sub 1p, still an avoid / sell. Today a “Subscription” announcement…

Redde – after Woodford buys more what about the “halted” dividend growth, “lack of dividend cover” & “broader pressure on margins”?!

Published 13 days ago

Following on Friday from Redde (REDD) an intra-day “Contract Update”, surely not ANOTHER disaster for Neil Woodford?!, Tom noted yesterday Woodford having bought more shares on the Friday. Cue the shares slumping to 90p yesterday – down another more than 14%!… and there are some other features which make Woodford’s move look particularly questionable…

Redde – intra-day “Contract Update”, surely not ANOTHER disaster for Neil Woodford?!

Published 17 days ago

“Accident management and legal services” company Redde (REDD) has made an intra-day (12:18pm) “Contract Update” announcement. I’m guessing this ain’t going to be good news…

Autins – “pleased to announce” results & “confident 2019 will deliver positive results”. Really?

Published 19 days ago

Previously writing on automotive sector acoustic and thermal insulation group Autins (AUTG) in October, it was with the shares falling further from the mid 30p’s; “many opportunities to grow and diversify” - why the ‘cost base steps’ then?. The shares are currently again lower to 20p on the back of “pleased to announce” full-year results. Hmmm…

LightwaveRF – discounted fundraising “to continue to scale the business… and provide working capital”. Really?!

Published 24 days ago

“LightwaveRF (AIM: LWRF), the leading smart homes solutions provider, is pleased to announce that… it has successfully raised gross proceeds of £2.50 million through a placing of, and a subscription for, an aggregate of 29,411,780 new ordinary shares at a price of 8.5 pence per share”. Hmmm…

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

Published 28 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…

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

Published 39 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?!?...

MySale – half-year trading update, can it recover from own goals?

Published 45 days ago

Having updated in early December that it had “experienced challenging trading”, now a further trading update from online retailer, MySale (MYSL)…

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

Published 46 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…

Veltyco – overdue receivables “no further payments having been received”. Uh oh…

Published 54 days ago

Last month, previously writing on Veltyco (VLTY) it was updates on launch of own financial trading brand – delay, or worse?. Now a “Subscription, Receivables Update and Board Changes” announcement…

Accrol – “despite… operational improvements and sales price increases”…

Published 76 days ago

In November 2017, I noted on Accrol (ACRL) bailout fundraising… at half of IPO price of only 17 months ago!. That was at 50p per share – but there was still much worse to follow. The shares had recovered from lows to a recent more than 20p – but that was before today a “Trading Update”

Telit Communications – still a sell

Published 77 days ago

With the share price of loss-making ‘Internet of Things’ play Telit Communications (TCM) flirting with a multi-year low, it is understandable that some may be tempted to go bottom fishing. As I see it, the bull case is as follows:

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

Published 80 days ago

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

Photonstar LED – “pleased to announce” placing. But it’s monumental dilution for what?

Published 101 days ago

Photonstar LED (PSL) previously commenced announcements with “the British designer and manufacturer of smart LED lighting solutions and cloud based building management services”… . It today states “PhotonStar LED Group plc (AIM: PSL.L), is pleased to announce that it has raised gross proceeds of £100,000… at a price of 0.02p per share”

Bilby – reckons “pleased to announce” interims… I don’t reckon the recent institutional shareholders will be as pleased!

Published 104 days ago

Gas heating, electrical and building services provider Bilby (BILB) reckons it “is pleased to announce its interim results for the six months ended 30 September 2018”. So why then are the shares currently circa 20% lower on the back of them, to below 75p?...

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

Published 131 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 136 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 137 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?...

Challenger Acquisitions – no Fairytale Of New York here, only bells ringing out look to be warnings of potential bankruptcy!

Published 152 days ago

Late last month-announced half-year results from Challenger Acquisitions (CHAL) included “management continues to believe that the New York Wheel developers are motivated to complete this project”. Today a “New York Wheel Update”

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

Published 159 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…

System1 Group – ‘underlying H1 pre-tax profit expected to be some 73% above prior year’, so why the lack of share price response?

Published 161 days ago

Marketing services group System1 (SYS1) has updated including “underlying H1 pre-tax profits, pre-Ad Ratings and share based payments, are expected to be around £1.9m, some 73% above the £1.1m achieved in H1 2017/18”. Having decreased steadily to around 200p, why are the shares not now though responding positively?...

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

Published 173 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…

7digital – a “global leader” with Universal Music contract wins? Hmmm…

Published 181 days ago

Previously writing on self-styled “global leader in B2B digital music solutions” 7digital Group (7DIG) last month, I questioned Triller contract win, ramptastic? Now “Universal Music Group Contract Wins”

Flowtech Fluidpower – “recent trading has remained positive”. Why the share price crash then?

Published 188 days ago

“Specialist full service supplier of technical fluid power products and services”, Flowtech Fluidpower (FLO) updated on trading in July – but the half-year results announcement today is currently accompanied by an approaching 30% share price fall, towards 120p. Hmmm…

Haydale FY18 results: survives going concern (just) but a placing is only a matter of time: Avoid.

Published 188 days ago

Shares in AIM-listed graphene play Haydale (HAYD) are off again to 44p (mid, last seen) following full year results to June this morning. Following a profit warning in June, when I said this was a bargepole stock at 78p and suggested that we were in for a £6 million loss before tax, cash would be down to around £5 million at year-end and another big cash-call was on the way, let’s see how my Mystic Meg powers are holding up……

Conroy Gold and Natural Resources – £0.5m placing at 13.75p; nowhere near enough

Published 209 days ago

AIM-listed Conroy Gold and Natural Resources (CGNR) has announced a placing at 13.75p to raise £0.5 million, boasting a 20 per cent premium to the market price. Well that’s fine and dandy – so why has the market not piled in behind the placees? The shares are up just one penny, leaving the stock at 12p to sell.

Accrol – management changes. ‘A statement of progress’, Really?

Published 209 days ago

“Board and Senior Management Changes” announcement from tissue products manufacturing group Accrol (ACRL) including “it is a statement of how much progress we have made that Accrol is able to attract an operational leader of Mark's capability”. Let’s take a look…

Tungsten Corp – pleased to appoint two new non-execs, or not?, balance sheet “adequate”, or not?

Published 213 days ago

“Tungsten Corporation plc, a global business transaction network, announces that Tony Bromovsky and Duncan Goldie-Morrison have been appointed to the Company's Board as Non-Executive Directors with immediate effect.” Hmmm, not ‘pleased to announce’ then?...

GAME Digital – current revenue & margin challenges v. BELONG growth initiative?

Published 216 days ago

GAME Digital (GMD) has updated including “group revenue for the 52 weeks ended 28 July 2018 is expected to show a small decline at approximately £780 million (2017: £782.9 million)”. That compares to at the half-year stage “revenue of £517.4 million… an increase of 3.9%”. Hmmm…

7digital – “Triller contract win”. Ramptastic?

Published 220 days ago

Shares in 7digital Group (7DIG) are currently on the rise after it has followed much-delayed 2017 results yesterday, with a “Triller contract win” announcement today…

FireAngel – from “more heavily weighted towards H2 than has been the case in recent years” to…

Published 231 days ago

Previously writing on FireAngel Safety Technology (FA.) – then Sprue Aegis – it was on a 25% share price slump to below 100p and I concluded we’ll see on improvement the company expected and, meanwhile, on underlying financial metrics, the share price reaction looked entirely understandable and I continued to avoid. Today a “Trading Statement” commencing, “The company expects to report H1 2018 sales of approximately £17.7m (H1 2017: £26.0m) and an operating loss of approximately £1.8m (H1 2017: £1.5m profit), in line with management's expectations. However,”. Uh oh…

Fox Marble – half-year update, progress being made

Published 231 days ago

Fox Marble (FOX) has updated on the first half of 2018 and that “as we move into the second half of the year our focus will remain on capitalising on growth, increasing our capacity and enhancing our product range in order to strengthen our position in the market”

Ilika – funding completion sees CEO Purdy ‘like to thank shareholders’. I bet he would!

Published 241 days ago

Previously writing on Ilika (IKA) in March, it was collaboration agreement, argues “large global markets” potential but still cash crunch first?. Today a “Results of General Meeting and Open Offer” announcement…

Frontier Smart Technologies – “radio sales orders have started to recover”… so why a further share price fall?

Published 242 days ago

Frontier Smart Technologies (FST) has updated including “in recent weeks, Frontier's radio sales orders have started to recover” and “Smart Audio revenues in H1-2018 are expected to be up 19 per cent year-on-year”. The shares have responded… er, currently more than 7% further lower below 50p…

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

Published 245 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 249 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…

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

Published 250 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?...

Itaconix – Woodford pick which states it is “a world leader… with break-through economics”, so why the proposed fundraising?

Published 256 days ago

Previously writing on Woodford dog Itaconix (ITX), it was Q1 trading update, ‘More cash please, Neil’ indeed!. Subsequently, the shares have been suspended due to “as a result of the requirement for further funding, the company will not be in a position to publish its annual audited accounts for the year ended 31 December 2017 by 30 June 2018, as required by AIM”. Today results and “Proposed Fundraising” announcements…

K3 Business Technology – interims, meaningful progress now being made?

Published 259 days ago

Writing previously on K3 Business Technology (KBT) towards the end of 2017, I concluded I’d want further evidence of meaningful progress before reconsidering a present cautious stance. Half-year results today include “pleased with the progress K3 has made over the first half… we believe that K3 is very well-positioned to make further progress over the second half of the year, and view growth prospects with confidence”

Management Consulting Group – a proposed placing and open offer, but not ‘pleased to announce’

Published 269 days ago

I’ve previously noted on Management Consulting Group (MMC) it an ‘operational improvement implementer’ which needs some of its own medicine! and most recently in November ‘below expectations’ trading warning less than 3 months after “well placed” interims. The latter saw the shares heading down towards 6p, though I concluded that 'it remains that I’d want much more than the likes of “positive progress” and level of proposals “has now started to improve” here to be convinced of a turnaround. Currently still a bargepole stock'. Now a Proposed Placing and Open Offer announcement…

Surface Transforms – reckons placing “following recent investor demand”. I suggest bullshit

Published 270 days ago

Writing earlier this month on Surface Transforms (SCE) I warned argues “these results are encouraging”… but looks to be firmly heading to cash crunch ahoy AGAIN!. Now it is “pleased to announce that it has successfully placed 9,000,000 new ordinary shares… at 17 pence per share, raising gross proceeds of £1.53 million”

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

Published 272 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…

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

Published 276 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?...

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

Published 283 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…

Pressure Technologies – “considerable momentum” & “significant potential”, so why are the shares further lower?

Published 286 days ago

Pressure Technologies (PRES) has announced results for its half year ended 31st March 2018 including “dynamics in the defence and oil and gas markets are showing considerable momentum” and “there is significant potential in Alternative Energy”. So why are the shares currently further lower, below 130p?...

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

Published 286 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…

Accrol – open offer update, how’s the “platform for the group to execute its strategy”?

Published 291 days ago

Tissue products manufacturing group Accrol (ACRL) has updated that it received valid applications of 287.64% of the new shares available under an open offer to raise up to £1.935 million at 15p per share. That compares with a 22.5p prior close, but also more than 130p as recently as October 2017, so where now?...

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

Published 294 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…

Defenx – CEO didn’t seem to like it… after just 6 months!

Published 303 days ago

Previously writing on Defenx (DFX) early last month I concluded ‘Current CEO Alessandro Poerio did only join in November – good luck, but I suggest there not a bargepole long enough for this stock currently. Thanks to bringing it to the market to Strand Hanson, WH Ireland and Newgate (PR)!’. Now a “Resignation of Director” announcement…

Brave Bison – shares in loss-maker soar on RNS Reach ramparoonie, with a new broker recently appointed. Hmmm!

Published 306 days ago

Having not been above 1.5p in over a year and previously closed at 0.775p, shares in Brave Bison (BBSN) have soared to a current 3.55p on the back of an announcement entitled “World's 3rd biggest digital media publisher”. I immediately note it’s an RNS Reach announcement though – i.e. non-regulatory and thus is clearly ramptastic…

Real Good Food – I having previously asked attempted discounted fundraising ahoy?, “New funding arrangements agreed”…

Published 311 days ago

I most recently warned on Real Good Food (RGD) towards the end of March - another intra-day update, attempted discounted fundraising ahoy?. Now another intra-day update; “New funding arrangements agreed”

Accrol – after 2016 IPO at 100p & 2017 bailout placing at 50p, what now?

Published 313 days ago

In June 2016 tissue products manufacturer Accrol (ACRL) listed on AIM, raising £63.5 million at 100p per share. Just seventeen months later it was bailout fundraising at half of the IPO price but still recently “revised banking arrangements” have been necessary and now at 3:08pm on 15th May 2018…

Sprue Aegis – after “disputes the allegations made by BRK”, how’s a Settlement Agreement?

Published 319 days ago

In March, I noted shares in Sprue Aegis (SPRP) down 25% on the day, at 142.5p, on a distribution agreement ‘termination notice’ which was actually a “Termination for Breach Notice” and saw Sprue “disputes the allegations made by BRK” and “taking legal advice”. Today a “Settlement Agreement”

Dillistone – “pleased to announce” results for 2017, so why are the shares slumping?

Published 331 days ago

Dillistone Group (DSG), “the AIM quoted supplier of recruitment software for the international recruitment industry… is pleased to announce its audited final results for the 12 months ended 31 December 2017”, including emphasising “2017 was an exciting year for the Dillistone Group with the launch of GatedTalent”. The shares have responded… er, currently 10% lower, to 86p…

Rurelec – oh dear, more bad news from Argentina

Published 334 days ago

AIM-listed Rurelec (RUR) released what appears to be a mixed bag of news this morning, although on closer reading it looks all bad. The board has its work cut out once again as liquidity appears to be heavily constrained and there is limited certainty over further debt repayments. In other words, it is yet again running very close to the wire: will this latest crisis be enough to finish off the company?

Sprue Aegis – update raises working capital questions

Published 340 days ago

Previously writing on Sprue Aegis (SPRP) it was with the shares last month down 25% on the day, at 142.5p, on the back of a “DA Termination Notice and Update re final results” announcement. There’s now an “Update re DA Termination, Notice of Results & RCF”

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

Published 350 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

Defenx – as the discounted fundraising arrives, what’s not to like?!

Published 353 days ago

In October I warned on Defenx (DFX) with the shares crashing towards 60p - “satisfied” with trading less than a month ago… now “materially below” profit warning”. Most recently, in February, it was below 20p and cash burn continues & “actively exploring funding options”, but not to worry… there’s a new “strategic plan”!. Now a Proposed Subscription and Open Offer

Corero Network Security – following the pump…

Published 354 days ago

Following thus far in 2018, 3rd January; “Significant Contract Wins”, 14th March; “Customer Wins” and as recently as 3rd April; “Customer Wins” - as warned, Corero Network Security (CNS) is now “pleased to announce a conditional placing and subscription to raise approximately £4.0 million ($5.6 million) before expenses”

Utilitywise – Woodford-backed dog returns from suspension… along with a profit warning

Published 368 days ago

Previously writing on Utilitywise (UTW) it was as the Woodford-backed dog currently suspended as unable to publish audited accounts, updates. The shares are today trading again after publication at last of results for the company’s year ended 31st July 2017!...

Retailer desperation at Kingfisher, Carpetright, Mothercare and Moss Bros

Published 369 days ago

The stock market is of course the best soap opera in the world and today's episode has a distinct retail focus and stars comedy profit warnings, hedge fund bailouts, inevitably the banks and well paid CEOs working very hard...to earn less money. Given the structural shifts online, suppressed consumer spending capabilities and everything else we should not really be that surprised.

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

Published 374 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…

1Spatial – disposal & trading update, a turnaround play?

Published 375 days ago

1Spatial (SPA) has updated including with a disposal of a controlling interest in Enables IT and a trading update…

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

Published 376 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?...

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

Published 388 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…

Photonstar LED – “pleased to announce”… (as we warned) a massively discounted placing!

Published 389 days ago

At the end of January I cautioned as Photonstar LED (PSL) argued “a further step towards… strategy of transforming the group into a software and services business, focused on lighting and building management as a service” and that “the unaudited net loss for the group has been reduced to approximately £0.9m, compared to a net loss of £1.46m in the previous year” - concluding it looked to remain cash crunch ahoy and thus, natch, the stance remained sell / bargepole. Now a 3:34pm “Conditional Placing of £430,000 & General Meeting” announcement…

Dillistone Group – “GatedTalent signs 100th client contract” announcement. Ramptastic?

Published 391 days ago

“GatedTalent signs 100th client contract”-entitled announcement from recruitment industry software group Dillistone (DSG). Sounds ramptastic, let’s take a look…

Conroy Gold and Natural Resources - Interims : oh dear, oh dear, oh dear

Published 391 days ago

AIM-listed Conroy Gold and Natural Resources (CGNR) published its interim accounts to 30 November 2017 this morning. Ignoring the jam tomorrow (we’ve seen that all before) it is clear that the company was up to its eyes in debt, not that chairman Prof Richard Conroy was bothered by that as he introduced his chairman’s statement with “I have great pleasure in presenting your Company’s Half-Yearly results”. He’s pleased – but I doubt any shareholder with half a brain cell will be.

Stanley Gibbons – Proposed Refinancing including vastly discounted equity… but good news?

Published 395 days ago

Stanley Gibbons (SGI) has announced a Proposed Refinancing, including raising £6.2 million at 2.5p per share… and the shares have currently responded more than 15% higher on yesterday, above 5.5p…

Audioboom – facing cash crunch ahoy again… a proposed reverse takeover

Published 405 days ago

Spoken word audio on-demand platform company Audioboom (BOOM) has announced a proposed $185 million reverse acquisition of USA-headquartered online audio industry technology provider Triton Digital, Inc. – this following shares in Audioboom having risen from 3.34p to above 3.6p yesterday (hmmm!)…

Creightons – a 4:05pm “Trading update”, Uh oh…

Published 409 days ago

Creightons (CRL) has made a 4:05pm Trading update - expected 2018 outturn announcement. I guess it ain’t going to be good then…

Dillistone – shares soar on ramptastic trading update; how’s the balance sheet?

Published 409 days ago

Shares in Dillistone Group (DSG) are currently more than 20% ahead, heading towards 80p, on the back of a Trading Update & Notice of Results announcement… but then they were also approaching 100p around a year ago, so what’s the story here?...

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

Published 411 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…

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

Published 418 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

PCI-PAL – from December contract wins & trading “well” to a January private investor screwing

Published 419 days ago

A 5th December announcement from contact centre payment technology company PCI-PAL (PCIP) included that it “has won a further major reseller contract and two new UK local Government contracts” and “the level of enquiries looks set to accelerate demand for our services faster than anticipated”. From 51.5p before that announcement, the shares went on to exceed 78p this month and closed yesterday at 71.5p. Now a Placing to raise £4.95m

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

Published 419 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?...

RedstoneConnect – emphasises “traded strongly”, but what about cash generation?

Published 423 days ago

Previously updating on provider of technology and services for 'smart' buildings and commercial spaces, RedstoneConnect (REDS) last year I concluded at a now 167.5p (there’s been a 1:100 share consolidation) that the valuation looked high for the just reported numbers, but will not be on the suggested growth potential being delivered and the stock was on the watchlist. With the company’s year ending this month, we now have a Business Update

Accrol Group – half-year results claim “remains well placed”. Hmmm…

Published 426 days ago

Accrol Group (ACRL) has announced results for its half year ended 31st October 2017 including “revenue increased by 13.1% to £72.3m” and “the group remains well placed to benefit from its strong position as a major UK supplier of non-discretionary tissue products into the consumer value sector… Growth in these sectors is being driven primarily by increasing Private Label product sales, which continue to take market share from well-known brands”. Sounds promising…

Carpetright – “significantly behind” profit warning & what does it mean for finances?

Published 430 days ago

Carpet and floor coverings retailer, Carpetright (CPR) has updated on trading for the 11 weeks ended 13th January – commencing that “trading in the important post-Christmas period has been significantly behind expectations” and also including “the severity of the decline in footfall over this key trading period and our more cautious view of the outlook for the balance of the year leads to a significant reduction in our full year expectations”. What does this mean in terms of financials?...

Fox Marble - new sales deal, placing, debt for equity swap. All good news!

Published 445 days ago

I knew about this. I was an insider as well as a loyal shareholder. And for that reason I declined to make Fox Marble (FOX) one of my tips of the year. Otherwise I would have been sorely tempted. 2018 may well be the year of the Fox.

WYG – “pleased” with Turkey cash received, BUT…

Published 447 days ago

Project management and technical consultancy WYG plc (WYG) has updated having noted in its December half-year report a build-up of working capital in Turkey and that “we expect significant cash receipts from our business in Turkey before the calendar year end”

Transense – trading “benefitted from an increased contribution from both Probes and iTrack II” BUT…

Published 459 days ago

An AGM statement from Transense Technologies (TRT) commences “trading since the start of our financial year in July has benefitted from an increased contribution from both Probes and iTrack II”. Sounds encouraging…

Flowgroup – now from customer growth “a key target” to “should maintain” number of customer accounts in just a few months

Published 479 days ago

The first paragraph of a Trading Update and Directorate Change announcement from Flowgroup (FLOW) includes “significant cost savings and management changes, to bring forward profitability by six months to the year commencing July 2018”. The shares are though approaching 10% lower, at 0.64p, on the back of the announcement…

Transense Technologies – “pleased to announce” further contract, but how’s the financial position?

Published 483 days ago

Having previously stated I remained cautious on Transense (TRT), I note the sensor systems technologies company “pleased to announce… a further contract through its Chilean partner Otraco, to supply 40 iTrack II mining tyre monitoring systems for large haul trucks at the BHP Billiton mine Cerro Colorado” - and its shares currently more than 4% higher, at 73.5p, on the day…

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

Published 489 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…

Nature Group – shares soaring on “Strategic Partner & sale of interest in US”. BUT…

Published 493 days ago

I first warned on shares in Nature Group (NGR) on this website at 11p in 2014 HERE and further since – most recently in June of this year; without additional material contracts in the short term, it’s cash crunch ahoy! The shares have recently been around 3p, but are currently soaring on the back of a “Strategic Partner & sale of interest in US” announcement…

Inspirit - time for another placing to stave off insolvency don't you think?

Published 496 days ago

We have had no news from the Inspirit (INSP) boiler room run by John Gunn and once graced by the great Dave Lenigas since its last placing completed in early September. By my maths the company is once again insolvent so how about another placing Mr Gunn? As a reminder of the maths...

Proxama – from having “the right products” to sale of division in little more than 6 weeks!

Published 509 days ago

In September Proxama (PROX) was emphasising “the board is now of the single view we have the right board and executive team, the right cost structure for both divisions, and the right products either in market or in development”. Today it “is pleased to announce the sale of its Digital Payments division”. You what?...

Vitesse Media – half-year results, when’s real profitability?

Published 514 days ago

Writing on Vitesse Media (VIS) in August with the shares at 2.75p, I concluded that with it placing ahoy and the results having shown increased losses, for now I’ll be avoiding. The company has now announced results for its half year ended 30th September 2017…

Defenx – “satisfied” with trading less than a month ago… now “materially below” profit warning

Published 516 days ago

Less than a month ago cyber-security software group Defenx (DFX) was “pleased to announce” first half of 2017 results, including that it “is satisfied with year-to-date trading”. Today a “Trading Update” includes expected “financial results for the year to 31 December 2017 being materially below market forecasts and the board currently expects to report a loss for the full year”. Uh oh…

Real Good Food – “Trading Statement”, surely not yet more real bad news?

Published 518 days ago

With its shares already down from 53.5p at the start of last year and 35p at the end of July this, to 26p, there’s now a further “Trading Statement” announcement from Real Good Food (RGD). Surely not yet more real bad news?...

eServGlobal – following the recent pump…

Published 521 days ago

At the end of June I commented on eServGlobal (ESG) that the interims argue “strong outlook” & Homesend “sales expansion”, but that the financials remained troubling. There’s recently been a pump – 2nd October; “HomeSend progress in the banking market”, 10th October; “eServGlobal outlook and business update” announcements – seeing the shares up from sub 8p at the end of last month to above 12p, closing yesterday at still above 10p… and so now “the company is pleased to announce”

LightwaveRF – why’s new route to market news really so “fantastic to confirm”?

Published 522 days ago

LightwaveRF (LWRF) has announced “its next generation Apple HomeKit certified product range, for controlling smart devices with iOS apps and Siri voice commands, is now available to purchase via the Apple Online Store”, with CEO Andrew Pearson stating this “fantastic to confirm”. I bet it is…

Comptoir Group – property sale following poor time since IPO, but now more confidence for expansion?

Published 522 days ago

Lebanese and Middle Eastern-offering restaurant group Comptoir (COM) has announced a pre-costs £2.69 million property auction sale of its central processing unit, with it to “use funds raised from the sale for general working capital purposes and to assess further new restaurant opportunities”. The shares have responded from 16.5p to a current 23.5p…

Ubisense – placing, more to support growth plans or needed to strengthen the balance sheet?

Published 523 days ago

Arguing it is positioning “to capitalize on significant projected increases in spending” as suggested by it having “reported a strong set of financial results for the six months ended 30 June 2017”, Ubisense (UBI) “is pleased to announce it has raised £5.5 million (before expenses) from a placing in order to support growth plans and strengthen its balance sheet”. Hmmm, let’s review…

Cloudcall – little more than a year after the last, another placing “to capitalise on near term growth opportunities”. Hmmm…

Published 524 days ago

Last year I noted Cloudcall (CALL) going from ‘clearly enough cash to reach break-even’ to £3.77 million placing in less than 5 months. It stated on that placing that it would see it able to capitalise on “near term growth opportunities, without the working capital constraints which have hitherto restricted our rate of growth”. Just over a year later though there’s now a “proposed placing to raise £5.7million… to capitalise on near term growth opportunities”. Hmmm…

21st Century Technology – shares down on contract win, balance sheet fears?

Published 536 days ago

21st Century Technology (C21) “is pleased to announce it has been awarded an important on-vehicle safety systems engineering contract with a major UK bus fleet operator worth just over £1m”. The shares have though responded slightly lower to 2.875p…

Midatech Pharma – a reader asks what we think (it’s not good….the curse of Neil Woodford (again)

Published 537 days ago

I have to say I haven’t come across AIM-listed Midatech (MTPH) until now. However, with interims results just released perhaps I could get a handle on it. The problem is that the interim report has a few gaping holes in it, all of which leaves a strong sense of unease. The unease in increased when I note that the recent bailout placing (at a whopping 31% discount) showed up Woodford Investment Management as a major holder. Oh dear, not a good start….

Stanley Gibbons – results & a revised division sale see shares slide again

Published 539 days ago

Collectibles group Stanley Gibbons (SGI) has announced results for its year ended 31st March 2017 and a revised sale of a division. The shares have currently responded more than 13% lower towards 8p…

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

Published 542 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…

blur Group – shares rise post results and ANOTHER placing justified? Er…

Published 545 days ago

Having risen from just above 4p to 5p last week post announcements, including results for the first half of 2017, shares in blur Group (BLUR) are now again retreating…

SRT Marine Systems – OCEAN-SCAN satellite system decision conveniently timed re. cash position?

Published 546 days ago

Previously writing on SRT Marine Systems (SRT), I noted the company’s announcement including “with many thousands of buoys and remote maritime infrastructure worldwide we believe our significant technology, product and market investments place SRT in a dominant position within this promising new market segment”but that, instead of this jam tomorrow talk, it will be particularly pertinent to review subsequent cash flow and balance sheet information – that as at 31st March 2017 having showed slightly reduced gross and net cash of £1.8 million and £0.8 million respectively. We now have “OCEAN-SCAN Satellite System” and “£10 million working capital facility” announcements…

Real Good Food – attempted no-one watching o’clock “Company Update”, surely not yet more real bad news?

Published 550 days ago

With its shares having slumped from 35p following recent real bad news and disclosure, yesterday saw an attempted no-one watching o’clock (5:01pm) “Company Update” from Real Good Food (RGD). Uh oh…

Proxama – interims argue “exciting times ahead”. Are there?

Published 553 days ago

Self-described “leading mobile location and data intelligence expert” Proxama (PROX) “is pleased to announce its half year results for the six months ended 30 June 2017 and a trading update”. The shares though remain depressed at little more than 0.03p…

LightwaveRF – UK Distribution Agreement announcement, but a ‘dump’ on the way?

Published 560 days ago

An “Expanded UK Distribution Agreement” announcement from LightwaveRF (LWRF) – and the shares currently approaching 10% higher in response, to 28p. Let’s take a look…

21st Century Technology – interims argue “significant improvement”, so why are the shares lower?

Published 570 days ago

Fleet and passenger systems technology company 21st Century (C21) has announced results for the first half of 2017 emphasising “significant improvement”. So why are the shares approaching 4% lower following the announcement, at 3.25p?...

Mirada – argues it is interest in its new OPEX model which leads it to seek new financing. Really?!?

Published 571 days ago

On the back of a “New Contract Win” announcement, shares in Mirada (MIRA) are recovering having been heading towards 1p following a trading update earlier this month…

Real Good Food – more Real Bad News...

Published 573 days ago

“Company Update” announcement from Real Good Food (RGD) commences; “The company announced on 1 August 2017 that it anticipated EBITDA for the year ended 31 March 2017 would be lower than market expectations at approximately £2.0m, subject to final audit. Since the announcement of 1 August, a review has been undertaken, under the guidance of the company's new Finance Director”… Uh oh…

Goodwin – full-year results, sufficient value to compensate for “continued tightening”?

Published 579 days ago

With I having questioned in March 2:15pm ‘Interim Management Statement’ a cause for alarm?, mechanical and refractory engineering company Goodwin (GDWN) has now announced results for its year ended 30th April 2017…

Norman Broadbent – “Corporate Update & Change of Adviser”. Hmmm, how’s the balance sheet?

Published 580 days ago

Self-described ‘talent acquisition & advisory services’ company Norman Broadbent (NBB) “announces the appointment of Gary Browning as Strategic Adviser to the Board and CEO, the appointment of WH Ireland as Nominated Adviser and Broker, the issue of a £300,000 loan note and the commencement of CFO succession planning”. Hmmm…

Management Consulting Group – half-year results, an ‘operational improvement implementer’ which needs some of its own medicine!

Published 583 days ago

Management Consulting Group (MMC) Chairman & Chief Executive Nick Stagg, with the company’s results for the first half of 2017, is “pleased to report that Proudfoot, Management Consulting Group’s continuing business, has made progress in the execution of its strategy”. The market is not however pleased – the shares down 8.5%, to 7p…

Oooo Err MRS – “Trading Update” from Management Resource Solutions at 08:19. Uh oh…

Published 587 days ago

Previously described as an A-grade howler HERE, there is now a strange-time “Trading Update” announcement from Management Resource Solutions (MRS). Strangely timed such announcements are very seldom good news and, combined with the track record here, I’m guessing there’s only one scenario…

Vitesse Media – full-year results & more, a lot can happen in 36 minutes here it would seem!

Published 590 days ago

A 10:35am results announcement from Vitesse Media (VIS). Not a portend for a positive announcement I’d suggest - and then 36 minutes later a “Directorate Chg, Hldgs in Co, Proposed Fundraising” announcement. Hmmm…

Volex – a continuing recovery?

Published 591 days ago

Having been just above 40p, a June results announcement emphasising “strong cash generation and returns to a net cash position. Restructuring activities and tight cost control contribute to an increase in underlying operating margins” saw shares in power cord and harness assemblies company Volex (VLX) rise over the next month to comfortably above 60p. They are currently though back below this level after AGM and strategic partnership announcements…

Zamano – believes close to a sought business disposal, so why are the shares lower?

Published 593 days ago

Attempting to sell its ‘premium SMS’ business and “in discussions with a number of parties”, Zamano (ZMNO) now “believes it is close to executing a transaction with a preferred party”. Sounds positive, so why are the shares lower, further below 4p?...

Fit Bird Photo Article: QUIZ plc - let's get quizzical part 1/2: history & current position

Published 605 days ago

QUIZ plc (QUIZ) has today listed on AIM, reckoning this “marks an exciting new phase in QUIZ's growth and development as a leading international omni-channel fast fashion brand”. In this part one, I review the current position and in part two the growth prospects and valuation…

Plant Impact – placing, tries to argue “represents a premium”. Hahaha…

Published 607 days ago

Plant Impact (PIM) has announced the conditional placing of new shares in the company at 31p each raising a gross approximately £4 million, with the announcement also including “the placing place (price?) represents a premium of 6.0 per cent to the closing mid-market price of 29.25 pence per existing ordinary share on 25 July 2017”. Hmmm…

Surface Transforms - discounted fundraising o’clock (as warned)

Published 627 days ago

In December I noted cash concerns on Surface Transforms (SCE) following a half-year trading update. I reiterated these last month, despite the company arguing “we continue to look forward with confidence”. Now surprise, surprise it’s discounted fundraising ahoy…

eServGlobal – interims argue “strong outlook” & Homesend “sales expansion”, but what about the financials?

Published 633 days ago

eServGlobal (ESG) has announced results for its half year ended 30th April 2017 including “a strong outlook for the year” for the core business and that the Homesend joint venture payment hub “is experiencing a sales expansion which it expects to become more significant across the remainder of 2017”. So why do the shares remain sub 6p, well down from more than 8p reached earlier this year?...

Vipera – partnership announcement, though will it again need to be fundraising ahoy?

Published 640 days ago

Vipera (VIP) “is pleased to announce a partnership with Mambu a leading SaaS alternative to traditional core systems powering banking and lending” - and the shares are currently 9% higher above 6p, so let’s take a look…

Richoux – significant (discounted) management investment, but clear challenges remain for former Prezzo boss

Published 646 days ago

I previously wrote on restaurant group Richoux (RIC) in April, with the shares at 20p, concluding that there looks much turnaround work to do in an admitted “difficult” period for the sector and with it also placing ahoy, I avoid. The company has now made a “Completion of Subscription & Director Transactions” announcement...

AO World – AO, Oh no! (again)… full-year results see CEO argue “great progress”, but detail suggests otherwise

Published 656 days ago

Results for its year ended 31st March 2017 from UK and Europe online electrical retailer AO World (AO.) see its CEO Steve Caunce emphasising “it's been another year of great progress for AO”. Hmmm, why a significant share price decline then, Steve?...

Comptoir Group – less than a year after IPO on AIM… a profit warning…

Published 658 days ago

A 10:15am “Trading Update” announcement from restaurant group Comptoir (COM), which IPO’d at 50p per share on AIM less than a year ago. An unusual time for a trading update + a restaurant group, with all the pressures facing that sector currently = I think I can guess much of how the announcement is going to go…

Vipera – “pleased to announce” new agreement, but what’s happened to funded “through to cash flow profitability”?

Published 661 days ago

Vipera (VIP) “is pleased to announce a multi-year agreement with Bankart d.o.o., a leading payment processor” and CEO Marco Casartelli is “delighted to have agreed such a significant and multi-year agreement with Bankart and we very much look forward to delivering more innovative solutions together in the future”. Sounds good, but what's the detail?...

Nature Group – 2016 results make clear material improvement needed otherwise it’ll soon be cash crunch ahoy!

Published 663 days ago

Having most recently warned on shares in Nature Group (NGR) in January as they jumped above 12p, I note they currently down 12% today, heading towards 8p, on the back of the company’s 2016 results announcement…

21st Century Technology – from “good” recent progress in December, to now-stated “poor” second half 2016 financial performance!

Published 668 days ago

Fleet and passenger systems company 21st Century Technology (C21) has, tardily, announced results for the 2016 calendar year, though with CEO Russ Singleton emphasising “we made real strides last year with major framework renewals, organisational restructuring and innovative new sales”. Sounds promising. However...

Proxama – not just “New Contracts”, but new “revenue generating contracts”. Ooooh…

Published 669 days ago

Having recently concluded on Proxama (PROX), the explicit inclusion of “should it require further working capital” suggests to me it very much will, I note an announcement today that the company “is pleased to announce four revenue generating contracts for its Proximity Marketing and Data Division”“Revenue generating” rather than any useful financial information hey? And an ‘RNS Reach’ (i.e. not regulatorily significant) announcement hey? Ramptastic!...

PhotonStar LED – results see CEO McKenzie claim “steady progress”, so why are the shares a further more than 7% lower?

Published 670 days ago

PhotonStar LED Group (PSL) CEO James McKenzie commences his comments on 2016 in the company’s results announcement that “steady progress was made in transitioning the group into becoming a retrofit connected lighting and building management business. We have installed a number of trials in a variety of sectors”. Sounds promising, so why are the shares currently 7.5% lower, at 1.85p, on the back of the announcement?...

LightwaveRF – follows ramparoonie with half-year results showing continued cash burn

Published 675 days ago

Commenting yesterday on the “Launch of Google Assistant voice control” ramparoonie (Oops) RNS announcement from LightwaveRF (LWRF), I suggested it clearly currently remains cash burn ahoy, with results for the six months ended 31st March 2017 following today

Proxama – having spent “throughout 2016” trying to sell Digital Payments division, now asks us to believe it’s “the best owner” after all!

Published 677 days ago

Proxama (PROX), 13th December 2016: “We have been reviewing various options throughout 2016 to sell the Digital Payments division with a priority being to maximise shareholder value… The company remains committed to the sale and we believe that it will be completed”Today: “the board has concluded that we remain the best owner for Digital Payments division… retaining this division as part of the group, with an updated strategy”. Haha – so having spent “throughout 2016” trying to sell the business and stating it “committed to the sale”, we’re now asked to believe that the company is actually “the best owner” for the business after all!?!...

Kin Group – bailout funding reviewed (with help from Nicole Scherzinger)

Published 679 days ago

Having previously suggested future ramparoonies for the company to place into somewhat more limited, Kin Group (KIN, the former Fitbug) “is pleased to announce that it has… agreed to issue convertible unsecured loan notes with a term of three years, to raise up to £1.125 million (before expenses), to Belastock Capital L.P., an overseas based institutional investor”. Hmmm…

Ncondezi Energy – funding desperation continues, contention for AIM’s most expensive loan?

Published 684 days ago

Shares in Ncondezi Energy (NCCL) are currently more than 30% lower on the day, at around 2p, on the back of a “Project and Funding Update”

Cogenpower – from AIM listing to working capital “constrained” & auditor resignation in 15 months

Published 684 days ago

12th February 2016: “Our admission to AIM comes at an exciting point in the company's development and marks an important step in Cogenpower (CGP)'s evolution to becoming a leading low-carbon energy business for urban communities”3rd May 2017: “Working Capital and Operational Update”10th May 2017: “Resignation of auditor”. Uh oh…

Nyota Minerals – mega ramp & joke valuation following discounted, ‘keep the lights on’, placing?!?

Published 685 days ago

Last week Nyota Minerals (NYO) was “pleased to announce” a placing to raise up to approximately £93,880 (approximately Australian$120,000) at 0.02p per share. Despite this thus looking very much a ‘keep the lights on’ raise, the shares have currently reached 0.07p. Hmmm…

Blancco Technology – “Q3 Trading Update, Cash Flow Review and Funding”. Uh oh…

Published 699 days ago

An announcement from Blancco Technology Group (BLTG) entitled “Q3 Trading Update, Cash Flow Review and Funding”. Hmmm, I’d guess it ain’t gonna be positive…

Hayward Tyler – does trading update support recently stated “good progress”?

Published 704 days ago

Last week I questioned stated “continued good progress” by Hayward Tyler (HAYT), with it having produced a profit warning as recently as 20th February. The following updates with the shares currently on the rise, at around 55p, on the back of a trading update the company “is pleased to provide” for its year ended 31st March 2017…

ASA Resource – updates on cash “unaccounted for”...

Published 705 days ago

Having yesterday reported that there is strong evidence of funds “amounting to several million US dollars” being transferred to entities in China without full value being received and that “analysis reveals that there is a pressing need for cash”, ASA Resource Group (ASA) states it now “provides further information on the group's cash position”

Corero – 2016 results & “pleased to announce” placing. I bet it is…

Published 718 days ago

Corero Network Security (CNS) “is pleased to announce… it has conditionally raised approximately £5.6 million… at a placing price of 5p… to support SmartWall sales and marketing activities in the US and Europe, for further development of the SmartWall product and for the general working capital requirements of the group”. Hmmm, what do the also- (but not ‘pleased’ to be) announced results for the 2016 calendar year show?...

Digital Barriers – trading warning (you were warned). Timberrrrrr…

Published 731 days ago

Shares in surveillance technology company Digital Barriers (DGB) are currently more than 17.5% lower, at 25.5p, on the back of a “Trading Update” announcement. Trading warning ahoy! You were warned

eg solutions – full-year results emphasise “a real sense of momentum”, but a buy?

Published 733 days ago

Back-office workforce optimisation company, eg solutions (EGS) has announced results emphasising “in generating revenues of £5.7m and an adjusted EBITDA of £2.1m in a six-month period, we demonstrated just what the business is capable of”. Hmmm, “adjusted EBITDA” hey. Let’s take a closer look…

Kalibrate Technologies – interim results show how ‘bullshit earnings’ were the previously announced EBITDA

Published 740 days ago

After a profit warning in January, CEO of Kalibrate Technologies (KLBT), Bob Stein, is “pleased to report our results for the six months ended 31 December 2016. Hmmm. The shares have responded lower, back below 60p…

LoopUp – 2016 results emphasise “strong performance” & “positive outlook”, so why are the shares lower?

Published 747 days ago

A 2016 results announcement from remote meetings technology group LoopUp (LOOP) includes “we're very pleased to report strong business performance and a positive outlook in our first set of annual results as a public company”. So why are the shares currently more than 3% lower, at 156.5p, in response?...

Dialight – 2016 results review as share price recovery continues

Published 748 days ago

Previously writing on LED lighting technology company Dialight (DIA) I noted somewhat of a share price recovery to 759.5p, but that ahead of the results for the 2016 calendar year I avoided. The following now reviews post those results – and with the shares having risen further…

IndigoVision – 2016 results, a speculative buy?

Published 753 days ago

Previously writing on networked video security systems group IndigoVision (IND) late last year, I concluded that further trading and financial comfort was required. I now note the shares currently on the rise on the back of results for the 2016 calendar year…

Molins – 2016 results, argues “confident” so why are the shares down?

Published 753 days ago

An early this year recovery in shares in Molins (MLIN) is currently continuing to reverse on the back of its announcement of results for the 2016 calendar year…

Vipera - “well funded… through to cash flow profitability”. Hmmm, really?

Published 756 days ago

Mobile financial services provider Vipera (VIP) “is pleased to announce a trading update in respect of the year ended 31 December 2016”. So why are the shares currently more than 5% further lower at 4.5p?...

Monitise – reckons half-year results demonstrate transformation programme working. Hmmm…

Published 760 days ago

A half-year results announcement from cash guzzler (Oops sorry, “digital technology group specialising in financial services”), Monitise (MONI) emphasises “our transformation programme is nearing completion, and continued half on half EBITDA profitability demonstrates that it is working”. Hmmm, EBITDA is though of course bullshit earnings, so what’s the real story?...

OneView Group – following December bailout loan… another bailout loan!

Published 768 days ago

Having in December announced “an additional loan facility of $1 million on similar terms to that of the existing $3m facility, which is fully drawn… to cover short term working capital needs around the company's new business contracts”, OneView Group (ONEV) has now announced an additional $300,000 loan “to cover short term working capital needs”. Hmmm…

Prospex assures investors it is funded for 2017 - then carries out a placing two weeks later!

Published 780 days ago

Investors in Prospex Oil and Gas (PXOG) must have been left feeling a little confused and angry yesterday when an RNS landed stating that a placing at a huge discount was taking place.

Hardide – company reckons recent new funds for investment in growth, full-year results suggest different

Published 833 days ago

Previously writing on provider of advanced surface coatings, Hardide (HDD) in October, I noted its raising of £1.6 million at 0.8p per share – questioning “to progress with its plans for future developments and growth” or ‘to keep the lights on’? We now have results for the company’s year ended 30th September 2016…

Plexus Holdings – AGM update; argues strong position for next cyclical upswing, but how far away’s that?

Published 837 days ago

Shares in oil and gas engineering services company Plexus (POS) are currently more than 12.5% higher, at 73p, on the back of an “AGM Statement” which argues “with a strengthened balance sheet, a large wellhead inventory, an expanded suite of Plexus products, partners in strategically important territories, and a successful track record with a who's who of blue chip operators, Plexus is in a strong position to take advantage of and benefit from the next cyclical upswing”. Hmmm…

Imaginatik – half-year results note “tangible results for our customers”, but what about for shareholders?…

Published 839 days ago

Having fallen towards 1p after being above 5p as recently as May, shares in Imaginatik (IMTK) are currently recovering to around 2p on the back of results for the company’s half year ended 30th September 2016…

Mirada – profit warning, how’s “not currently expected to require further equity fundraising” looking now?

Published 840 days ago

Previously writing on digital technology company Mirada (MIRA) I concluded that the track record saw me continue to avoid with the shares at 4.25p. I now update with the shares, on the back of a “Trading Update” announcement, currently 33% lower today, at 2.75p...

IndigoVision – trading update, shares good value?

Published 843 days ago

Previously writing on video security systems group IndigoVision (IND), I concluded that although a market cap of sub £11.5 million suggested there potentially good value, trading concerns saw it for now remain on the watchlist. The following updates on the back of a “Trading Update” announcement...

Digital Barriers – H1 results, claims a clear, strong organic growth engine. But is there?

Published 846 days ago

Provider of surveillance technologies, Digital Barriers (DGB) has announced results for the six months ended 30th September 2016 including “it is clear that we have now established a strong organic growth engine”, though later also stating “organic revenues… were broadly flat at £6.9m”. Hmmm…

Imaginatik – argues “confident”, but should it be?

Published 851 days ago

A trading update for the six months ended 30th September sees innovation software and consultancy company, Imaginatik (IMTK) “confident we have the foundations in place for future success”. Investors though don’t seem as confident – the shares currently remaining slumped at around 1.6p...

Westminster Group – having emphasised ‘elimination’ of Darwin Capital convertible loan notes in September, guess what…

Published 852 days ago

Having included as a ‘Key Point’ in its September-announced half year results statement “Darwin Convertible Loan Note debt reduced during period and eliminated shortly afterwards”, Westminster Group (WSG) is now “pleased to announce” £1.2 million of convertible loan notes… with Darwin! The following updates with the shares currently falling back well below 20p in response...

Ten Alps – results “extremely disappointing”, but reckons to now be profitable. Sound familiar though?

Published 866 days ago

Shares in Ten Alps (TAL) have continued to fall on the back of results for its year ended 30th June 2016, which noted “a disappointing and painful period for the group”, but also that “hard decisions have been made and remedial actions taken to structure the business for success”. Hmmm...

Grafenia – half-year results, another profit warning ahoy!

Published 867 days ago

Having last month concluded on Grafenia (GRA) that I wouldn’t want to bet on expectations being achieved and currently continue to avoid, I note the half-year results announcement sees the shares currently more than 14% lower at 7.5p…

Windar Photonics – does “orders from large scale US IPP” announcement merit the 20%+ share price rise?

Published 871 days ago

Shares in wind turbine technology company, Windar Photonics (WPHO) currently trade more than 20% higher, above 100p, on the back of an announcement of “a repeat order for its WindEYE LiDAR wind sensors from a large North American wind farm owner and operator for immediate delivery”

ADVFN – full Annual Report finally released: struck by cupid's arrow?

Published 873 days ago

I rather like the ADVFN service, and having met its CEO briefly a few times I rather liked him too. And as a house matter, there was much to commend about the staunch resistance to pressure being applied on ADVFN to put clear water between it and ShareProphets was over the way in which, for example,  the Quindell fraud was being systematically unpicked in these parts. That was not just an issue of free speech, it was a matter of exposing bad people and trying to save the shirts of our readers. So I have an awful lot of time for Clem Chambers, the CEO of ADVFN.

CAP-XX – tax rebate received… but needed to repay line of credit facility...

Published 875 days ago

“Further to the company's announcement of 4 October 2016, the board of CAP-XX (CPX) is pleased to announce that it has received an Australian Government R&D tax rebate of A$1.537m”. The following updates with me having previously commented here on the company looking to need to focus on ensuring it has a sustainable financial basis

Hayward Tyler – disappointing H1, but reckons still to meet full year expectations. Hmmm…

Published 886 days ago

Shares in specialist engineering group Hayward Tyler (HAYT) currently trade more than 10% lower, heading towards 80p, despite a trading update announcement including “management is positive in the group's ability to meet full year market expectations”. Hmmm…

Hardide – investment for growth or just keeping the lights on?

Published 888 days ago

I wrote on provider of advanced surface coatings for a wide range of engineering components, Hardide (HDD) in June – ‘half-year results dire, cash crunch & thus (explicitly) fundraising ahoy!’. I now update on developments on the back of a trading update from the company today…

Digital Barriers – credit facility ahead of interim results?

Published 888 days ago

Having warned on shares in Digital Barriers (DGB) last year, I note an announcement of a £10 million credit facility – with this following a trading update announcement last week…

Starcom – legal woes follow half-year results concern…

Published 889 days ago

Having previously questioned whether it has sufficient working capital, I note a “Litigation update” announcement from Starcom (STAR) and the shares currently 12.5% lower, at 2.625p, in response. Uh-oh...

Trendit – a shocking indictment of the Standard List

Published 891 days ago

If you thought that AIM was badly regulated then the Standard List seems to be making great strides to demonstrate how much worse it could all get. We already have Cynical Bear’s Sub-Standard Shockers XI but in the form of Trendit (TRIT) an extraordinary set of events suggests a real scandal is brewing. Will anyone step up to the plate and take action?

LightwaveRF – “pleased to announce”… an uber-expensive loan (& trading warning)…

Published 891 days ago

LightwaveRF (LWRF), “enabling domestic and commercial users to remotely monitor and control light, heat, power and security by smartphone, tablet or PC… is pleased to announce that it has entered into an agreement with its principal shareholder, Committed Capital Financial Services Limited for a loan of £150,000”. Uh oh – sounds like ‘keep the lights on’ stuff…

Mirada – shares soar on half-year trading update, but does it tell the full story?

Published 893 days ago

Having recently been declining, shares in digital technology company Mirada (MIRA) were the top gainer yesterday – up 26% to 4.25p – on the back of a “Trading Statement” announcement. Let’s take a look…

21st Century Technology – half-year results admit “liquidity issues”! …

Published 908 days ago

Technology provider to the transport industry, 21st Century (C21) has announced results for the first half of 2016 including that “there are a number of positive initiatives happening within the group”. The following updates with the shares currently remaining slumped at 1.625p…

Nature Group – “pleased to announce” results as shares slide on another ludicrous statement…

Published 908 days ago

Following an absolutely ludicrous results statement previously, Nature Group (NGR) is “pleased to announce the unaudited interim results for the six months to 30 June 2016”. The shares are currently approaching 8% lower, at 4.375p, in response. Is the company at it again? …

MediaZest – “New business update” announcement sees shares soar. Hmmm…

Published 909 days ago

At 3:48pm (why?) yesterday it was announced that “MediaZest (MDZ), the creative digital audio visual company, is pleased to update shareholders with more detail on recent business wins”. The shares responded more than 18% higher to 0.1625p. Hmmm…

Fitbug – half-year results claim “encouraging progress” & “confident”. Really?

Published 914 days ago

Fitbug (FITB) has announced results for the first half of 2016, including claiming that its “strategy has seen encouraging progress… with our additional working capital and reduced levels of debt following our successful fundraise in July, the board is confident as to the company's future prospects”. The shares have lapped it up by approaching 12%, to 0.28p, but is there really “encouraging progress” and ‘confidence’ here? ...

Sepura – less than 2 months after bail-out fundraising, a profit warning extraordinaire!

Published 922 days ago

After 4th April 2016, “adjusted EBITDA lower than expectations… possibility of covenant breaches”27th April; “short term cash constraints… ongoing discussions with stakeholders regarding liquidity and capital structure” and 27th June “management actions taken to revise business model - impacting FY17 financial performance”, a now 12pm “Trading update” announcement from Sepura (SEPU). Uh-oh…

EU Supply – does “Renewal of agreements” announcement merit the further share price gain?

Published 922 days ago

Shares in EU Supply (EUSP) are again on the rise – currently more than 8.5% higher at 11.125p – on the back of a “Renewal of agreements” announcement. Let’s take a look…

EU Supply – half-year results, working capital looks tight…

Published 929 days ago

Having risen from just above 4p in the first half of June, shares in e-procurement SaaS provider, EU Supply (EUSP) are holding steady above 10p currently post its results for the first half of 2016…

Starcom – half-year results, “sufficient working capital”?

Published 929 days ago

“Starcom (STAR), which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets and people… (is) pleased to report the unaudited results for the six months period ended 30 June 2016”. The shares are currently more than 15% lower, at 3.375p, in response. Hmmm…

Cyan – a “world leader” adopting a model “similar to ARM Holdings plc”. Really?!? …

Published 944 days ago

Self-declared “world leader” in technical jargon to describe what it does (Oops, I meant “in narrowband RF mesh networks for Omni Internet of Things communications”), Cyan (CYAN) has announced results for the first half of 2016 – noting its “financial performance reflected the increasing maturity of our offering and relationships” and that it’s “excited by the group's growth prospects”. Hmmm…

Image Scan Holdings – does latest “Trading Update” justify recent share price gains?

Published 945 days ago

Having risen from 2.375p a month ago to 5.75p, shares in Image Scan Holdings (IGE) are currently further higher, at 6.25p, on the back of a “Year End Deliveries Trading Update” including that “the company anticipates to have recognized the sale of approximately half this £800k order by the end of the financial year and therefore now expects to materially exceed current market expectations”

Work Group – returns to AIM with Chairman Simon Howard escaping the financial pain of others

Published 947 days ago

Following the 31st December 2015 sale of its operating business to Capita as “it became clear to the board that the trading activities of the group could only survive as part of a much larger organisation”, Work Group (WORK) has now published results for 2015 and its shares have been re-admitted to AIM as an investing company…

21st Century Technology – you were warned & it’s now profit warning ahoy

Published 948 days ago

Unlike its previous “Trading Update” announcement, it’s not ‘no one watching o’clock’ this time - but it is the same end result for shares in 21st Century Technology (C21); they're crashing...

Imaginatik – FY results, claims “pleased” with the growth & progress. Hmmm, really?…

Published 950 days ago

Provider of innovation software and related professional services to large and medium-sized enterprises, Imaginatik (IMTK) has announced results for its year ended 31st March 2016 and states it is “pleased with the growth achieved in the year and the underlying progress within the business”. The shares are though currently a further more than 6.5% lower, at 1.75p. Hmmm…

Ten Alps – restructuring of London publishing business fails, is to be closed down…

Published 951 days ago

Having slumped from 2p following a profit warning in May, shares in Ten Alps (TAL) are currently recovering slightly on the back of a “Closure of Ten Alps Media Limited” announcement...

blur Group – “is pleased to present” its half year results, it shouldn’t be…

Published 954 days ago

Prodigious cash-burning machine (sorry, services platform and marketplace group), blur (BLUR) “is pleased to present its unaudited interim results for the six months ended 30 June 2016”. Hmmm – this with the shares down from a start of the year 17p (and much, much higher when we first started warning) to a current little more than 7p…

Nanoco – claims “commercial, technological and organisational” milestone achievements, but financials?

Published 958 days ago

An announcement commences “Nanoco Group plc (NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, provides the following trading update ahead of its preliminary results for the year ended 31 July 2016. During the year, the company made substantial progress and achieved a significant number of commercial, technological and organisational milestones”. Hmmm, I note no mention of ‘financial’, wonder why? ...

APC Technology - “is pleased to announce”… another private investor screwing

Published 965 days ago

APC Technology (APC) “is pleased to announce that it has conditionally raised £1.1 million (before expenses) by way of a placing of 13,750,000 ordinary shares… together with two warrants for every five placing shares issued”. The market is not as pleased – the following updates with the shares currently more than 16% lower, at 8.375p, on the day…

Blur Trading Statement - Show Me The Lack of Money: Letts Must Go

Published 970 days ago

The hapless Phil Letts, founder and CEO of disaster story Blur (BLUR) must surely know that his time - and that of his grossly overpaid Mrs - is almost up. After another dire trading statement today, There's No Other Way, as Blur used to say:

HaloSource - another (lack of) revenue warning, seemingly remains on path to cash crunch ahoy!

Published 972 days ago

In May I questioned whether the HaloSource, Inc. (HAL) sale of its Recreational Water business was all as it initially seems – and the company now updates that “total revenue from continuing operations for the period ended 30 June 2016 was $1.4 million (H1 2015: $2.7 million)” and “a cash balance of $4.1 million”. Hmmm…

Tungsten – claims “special operating assets”, but currently just another ’specially bad financial performance

Published 972 days ago

Tungsten (TUNG) has announced results for its year ended 30th April 2016 and that “the board is confident the company is well positioned for further sustainable growth”. The shares are further lower, at a current 43p, in response. Hmmm…

Superglass Holdings – recommended takeover offer; from Russia with a bailout for shareholders

Published 975 days ago

Manufacturer of glass wool and mineral fibre insulation products, Superglass (SPGH) has announced a 5.6p per share, £8.7 million, takeover offer from Inflection Management Corp which it is recommending to shareholders...

WANdisco – where now following confetti issue approval?

Published 983 days ago

Having recovered back above 150p at the start of this month, shares in unique cash-burning machine (sorry, “unique… provider of enterprise-ready, non-stop software solutions that enable globally distributed organizations to meet today's data challenges of secure storage, scalability and continuous availability”) WANdisco plc (WAND) have slipped back with the company having received General Meeting approval for a confetti (sorry again, equity) issue…

Digital Globe Services – CEO reckons “pleased with the overall growth of the business”, but for investors it’s over to Beyoncé & Jay-Z…

Published 984 days ago

Provider of customer, lead, and inquiry acquisition and digital media services, Digital Globe (DGS) commences a “Trading Update” noting that it “expects to deliver revenue for the year of approximately $48.0m (FY15: $40.3m), marginally ahead of market expectations”. Good, good … “gross margins experienced compression in the second half of the year due primarily to increased marketing spend”. Uh oh…

Sabien Technology – GM to reduce nominal value of shares + “three month's cash to cover working capital”. Hmmm…

Published 985 days ago

Sabien Technology (SNT) has released the update provided at a General Meeting held today. Why the General Meeting? … “to effect a reorganisation of the company's share capital… the nominal value of the company's ordinary share capital needs to be reduced in order to allow the company to issue new ordinary shares should it decide to do so”. Hmmm...

Strat Aero – announcement of “Board Change” after Hulsey Smith bombshell letter, but...

Published 990 days ago

Strat Aero (AERO) has announced that “Greg Kuenzel, non-executive director of the company, is stepping down from the board with immediate effect”. This follows just a day after W. Hulsey Smith released a third open shareholder letter to the board. But...

Ten Alps - “Directorate Change” announcement = CEO walking the plank

Published 997 days ago

Having recently noted that TV and multimedia content producer Ten Alps (TAL) faced an unenviable combination of issues, the company has now announced that “Mark Wood, Chief Executive Officer, has notified the board of his decision to step down as CEO and as a company director with immediate effect, which was accepted… The company has no immediate intentions to appoint a new CEO”. Hmmm…

Strat Aero – 2015 results at the last minute & after AGM, I wonder why? …

Published 997 days ago

Drone company Strat Aero (AERO) has announced results for the 2015 calendar year ridiculously late and after its AGM earlier on 30th June. I wonder why? …

Image Scan Holdings – announces largest portable X-ray order, but placing ahoy?

Published 998 days ago

Previously reviewing long-time purveyor of jam tomorrow (sorry, of X-ray screening systems to the security and industrial inspection markets), Image Scan Holdings (IGE) I concluded that it was looking more likely that the company can avert a cash crunch ahoy and move into profit and cash generation but that I awaited more evidence. The following updates post an announcement of “the single largest portable X-ray order ever received by Image Scan”

Imaginatik – having talked of gross proceeds “expected to be approximately £2.11 million”, fundraising falls well short…

Published 1004 days ago

Having on 25th May announced a placing and open offer at 2.5p per share to raise expected gross proceeds of “approximately £2.11 million” and earlier this month the as-expected completion of the placing (for a gross £1.58 million), Imaginatik (IMTK) has now announced the result of the open offer…

Image Scan Holdings – “Distribution Agreement”, how’s the jam tomorrow looking?

Published 1005 days ago

Long-time purveyor of jam tomorrow (sorry, of X-ray screening systems to the security and industrial inspection markets), Image Scan (IGE) has followed results for its half year ended 31st March 2016 with a “Distribution Agreement” announcement. Let’s take a look…

CAP-XX – “secured new orders for automotive applications”. Hmmm…

Published 1006 days ago

Having previously written in March in a sceptical vein, I note shares in the company which modestly describes itself as “a world leader in the design and manufacture of thin, flat supercapacitors and energy management systems”, CAP-XX (CPX) currently trade higher, at around 5p, on the back of an announcement which begins with that the company “is pleased to announce that it has secured new orders for its supercapacitor solutions for both passenger vehicle and heavy vehicle automotive applications”.

Hornby – self-declared “disappointing” results, can further new money fund a recovery?

Published 1006 days ago

Hobby and toy products group Hornby (HRN) has announced results from an “extremely challenging” year, along with a placing and open offer to fund a new business plan which it is “confident… can be delivered successfully and that Hornby can return to being a profitable and cash generative business which will progress to delivering shareholder value”. Hmmm…

EU Supply – CEO buys & shares on the rise, but concerns remain…

Published 1007 days ago

Having previously remained at around the levels of my previous update, shares in e-procurement software provider, EU Supply (EUSP) have spiked in the last few days – from just above 4p to a current 6.5p. The following reviews…

Superglass Holdings – shares slumping as cash position has done likewise. Hmmm…

Published 1007 days ago

I previously wrote on Superglass Holdings (SPGH) towards the end of last year HERE and now update with the shares currently fast-falling back to the levels of then…

Filtronic – “Trading Update”; it reckons “strong”, but is it?

Published 1008 days ago

Electronics products for the wireless telecoms infrastructure and adjacent markets-focused Filtronic (FTC) has released a “Trading Update” announcement emphasising “a strong sequential second half (to 31st May 2016) performance” and helping the shares up currently approaching 7.5%, to 10.875p, in response. Let’s take a look…

CloudTag – the equity issues go on and on…. And on and on…

Published 1012 days ago

“CloudTag (CTAG), the company that brings personal monitoring to the health, wellbeing and fitness markets, is pleased to announce an operational update and to announce it has raised £470,000 by way of a subscription for new ordinary shares”. At 6.05p, this now means a market cap here of more than £19.5 million. Hmmm…

Ten Alps – “Disposal” announcement not exactly a game-changer!

Published 1015 days ago

Having recently gone in just over two months from being “on track to generate a full year profit for the first time in a number of years and to continue momentum into the medium term” to having “continued to sustain losses in certain parts of its publishing operations… these continued losses are likely to result in the group not being profitable for the year as a whole”, Ten Alps (TAL) sought to somewhat reassure with that it “is in advanced stages of discussion on the disposal of certain areas of its publishing business”. We now have an announcement of “the disposal of the trade of Grove House Publishing Limited, one of its publishing subsidiaries, for a cash consideration of”

Plexus Holdings – previous doubts borne out as “Conditional Placing” announced

Published 1015 days ago

On Plexus Holdings (POS) announcing the raising of $5 million of new equity in April, I questioned whether it was to fast track its entry into the Russian and other markets or to keep the lights on – see HERE. We now further have an answer – with the company announcing a conditional (including on 28th June General Meeting approval) gross £6 million placing including to “strengthen Plexus' balance sheet during the current down cycle”...

Ten Alps – announced “Loan Agreement” just kicks the can down the road

Published 1017 days ago

Having recently gone in just over two months from being “on track to generate a full year profit for the first time in a number of years and to continue momentum into the medium term” to having “continued to sustain losses in certain parts of its publishing operations… these continued losses are likely to result in the group not being profitable for the year as a whole”, Ten Alps (TAL) has now announced a “Loan Agreement”

AO World – full-year results, do the numbers reflect “deliver(ing) huge benefits to the business”?

Published 1019 days ago

Online electrical retailer AO World (AO.) has announced results including that “the consistent focus we place on delivering amazing customer service along with the investment we have been making in our brand continues to deliver huge benefits to the business” and that “trading in the current financial year has started well”. The shares though are now down 6%, to 157p, on the back of the announcement. Hmmm, let’s take a look...

DCD Media – follows no-one watching o'clock "business update", with no-one watching o'clock results

Published 1025 days ago

Following a true 'no-one watching o'clock’ “Business Update” from DCD Media (DCD), it has followed suit with the results announcement – with a 4:10pm release. I wonder why...

Imaginatik – shares on the rise despite admitted discounted fundraising discussions. Hmmm…

Published 1040 days ago

Having fallen back towards 3p following a couple of RNS announcements earlier this week, shares in Imaginatik (IMTK) are currently on the rise again. With this coming after the shares had slumped to sub 2p by the start of April before soaring beyond 5p by the commencement of May, the following reviews the goings-on here…

Ten Alps – from “on track to generate a full year profit for the first time in a number of years”, to…

Published 1042 days ago

8th March 2016: Ten Alps plc (TAL) “remains on track to generate a full year profit for the first time in a number of years and to continue momentum into the medium term”17th May 2016: “The group has continued to sustain losses in certain parts of its publishing operations, the turnaround of which has taken longer than expected. These continued losses are likely to result in the group not being profitable for the year as a whole”. Uh oh…

Driver Group – revenues projected to be ‘in line’, but profit? …

Published 1049 days ago

Construction and engineering consultancy group Driver (DRV) has updated that “March and April revenues were strong and the current workload / pipeline indicates that the group will deliver revenues for the year ending 30 September 2016 at least in line with current market expectations. However… believes that profit for the current year will be significantly short of market expectations”. Uh oh…

Hotel Chocolat – IPO analysis part 1/2: financial performance

Published 1052 days ago

Chocolatier and retailer Hotel Chocolat (HOTC) has announced it is to IPO on 10th May “by way of a conditional placing… based on the placing price (148p per share), the market capitalisation of the company on admission to trading on AIM will be £167 million”A second part of analysis will look at the company’s prospects, this first part reviews its recent financial performance…

Proxama – on the buses, but is it placing ahoy?

Published 1054 days ago

AIM-listed Proxama (PROX) yesterday released an RNS Reach which described the launch of advertising campaigns on London buses. It all sounds terribly high-tech and exciting: it involves 500 buses using the company’s beacon technology and there is plenty of stuff about high click-through rates, a potential market of 2.3 billion passenger journeys a year to go for and how consumer targeting will mean adverts of quality and relevance. But…..

Fitbug – shares down as 2015 results awaited, another fundraising needed & ahoy?

Published 1055 days ago

Having warned both during a late 2014 ramparoonie that would take the shares to 20p and then all the way down, I note shares in Fitbug Holdings (FITB) are currently a major faller – down more than 14% on the day at 0.45p. Hmmm…

eServGlobal – claims “significant contract”, but guidance only maintained; PLACING AHOY!

Published 1067 days ago

eServGlobal (ESG) has announced what it immediately claims as “a significant contract to supply its PayMobile software”. However, despite approximately €2.5 million of the €6 million contract value to be recognised in the company’s current year to 31st October, it only “maintains” financial guidance. Hmmm…

SeaEnergy ‘fesses up to self-inflicted dire financial position. Blow me down with a feather….

Published 1116 days ago

I’ve been classing AIM-listed SeaEnergy (SEA) as an outright sell since last September (see HERE) at 5.5p bid, but was bearish as long ago as last June at over 12p (see HERE). This has been an accident waiting to happen for months and this morning came the grim news.

F40 LED International Toasts Chinese New Year with a Rum’n’Coke of an RNS

Published 1138 days ago

Already suspended for failing to produce its accounts to June 2015, ShareProphets AIM-China Filthy Forty play LED International Holdings (LED) gave out a Chinese new year update on Monday which covered a number of matters – not least of which is the overdue accounts. And the binning of a JV which started life as a proposed RTO. And the non-completion of an acquisition first announced back in March 2013. And a warning that its working capital position is constrained because its customers are not paying their bills. And the company needs to raise cash or restructure debts. Apart from that everything’s fine!

Tom Winnifrith Bearcast 3rd February - Deltex dont give me that working capital crap

Published 1146 days ago

I start with today's placing news from Deltex Medical (DEMG). I do not reckon that this will be its last placing and its language stinks at every level. The money will be used for "working capital". Bollocks. It means to "fund our ongoing fucking losses". And there is more. Yes this is a bad language special. And if you are a Guardian reading loser who thinks the NHS is cash starved you will also be offended.  I also look at Petro Matad (MATD), Petroceltic (PCI), Rose Petroleum (ROSE) and once again push Wandisco (WAND) for a statement. Is there a "strategic review" yet? How close are you to tits up time?

LED International Holdings – yet another Filthy Forty suspension

Published 1179 days ago

Our apologies are due for overlooking one of the ShareProphets AIM-China Filthy Forty companies. The RNS released by LED International (LED) three days before Christmas (HERE) almost passed us by: the company announced early in the no-one-is-watching o’clock holiday period that its shares were being suspended because it had become apparent that the Company [would] not be in a position to publish its audited report and accounts for the year ended 30 June 2015 by the deadline of 31 December.

Quindell – The Company (at last) Comments to Shareprophets re Bond Issue Position

Published 1780 days ago

Well done Quindell (QPP). It has finally offered a comment on the suggestion from a source of mine that it was considering a bond issue in 2014.  To those poltroons who suggested that Quindell would not bother speaking to me, only “proper” journalists

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