By Nigel Somerville, the Deputy Sheriff of AIM | Friday 9 August 2019
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
AIM-listed Xeros (XSG), Neil Woodford’s cash-hungry revolutionary and disruptive washing machine play, has sold the majority of its portfolio of its Hydrofinity US commercial laundry customer portfolio of leased machines to Eastern Laundry Systems and Wash IQ for $109,000 is cash up-front and on-going license fees. The contracts had offered up an adjusted loss (gross loss before exceptional cost of sales items) of $376,000 in 2018 so this is hardly a win – more a case of off-loading a loser.
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