MrC's Smallcap Sweeps for Feb 2022

[MrContrarian]

Smallcap Sweep. 01-Feb-22
Joules losing energy, Warpaint advances

Joules (JOUL) last 9 weeks rev up 31%, behind mgmt expectations. Pretax also below. Blames covid, delays to new stock arrivals, margin squeeze. "The Board's base case expectation is for trading for the balance of the year to recover in line with its previously stated expectations, supported by recovering footfall and an improved level of newness in the stock position." [SP=118 Cap=132m]
Spectral MD (SMD) guides FY(Dec) loss materially better than mkt exp. Cites lower costs per subject associated with the Diabetic Foot Ulcer study. [SP=35.9 Cap=48m]
MaxCyte (MXCT) sells license for its Flow Electroporation technology and ExPERT platform to Intima Bioscience. NO £££. [SP=462 Cap=470m]
Sureserve (SUR) wins 10-year £20m contract for Tower Hamlets Homes. [SP=91.27 Cap=150m]
Mobile Tornado (MBT) guides H1(Dec) rev £1.3m and EBITDA -£30k. Guides FY rev c.£2.52m. "The Board were disappointed to lose the customer in Canada, as announced on 1 December 2021. The loss of this customer has created a shortfall as the Company moves into the new financial year." [SP=1.54 Cap=6m]
Warpaint London (W7L) beats prev FY(Dec) rev guidance of c. £40m with £50m result. Adj pretax c.£6.6m, ahead of market expectations. "We expect to see a continuing improvement in performance in 2022 and have started the year strongly." [SP=155.5 Cap=119m]
Path Investments (PATH) extends deadline for takeover of DG Innovate to end Mar. Provides further £450k (max) loan to DG Innovate. [SP=0.28 Cap=5m]
EQTEC (EQT) long update. Guides FY21 rev in line. [SP=0.98 Cap=84m]
The Property Franchise Group (TPFG) guides FY(Dec) rev up 119%. Guides ahead of market expectations but no number. [SP=318 Cap=102m]
Triple Point Energy Efficiency (TEEC) ops update. Chmn in 'pleased'. [SP=93.95 Cap=94m]
Checkit (CKT) wins £2.8m+ 3 yr contract in USA. [SP=43.5 Cap=47m]
Mears (MER) guides FY(Dec) rev over £870m and adj pretax c. £25.5m, ahead of market consensus of £848m and £25.1m. Current trading in line. [SP=194.85 Cap=216m]
Plant Health Care (PHC) guides FY(Dec) rev up 28% and gross mgn up 300bp. Remain on track to deliver cash breakeven within existing resources. [SP=9 Cap=27m]
Elixirr (ELIX) guides FY(Dec) rev £50.5m, above market expectation of £47-50m. Adj EBITDA £15.5m, above market expectation of £15m and within the range of 30-32% of revenue previously announced. [SP=673 Cap=311m]
Fragrant Prosperity (FPP) H1 has material uncertainty going concern stmt. [SP=3.93 Cap=2m]

In line: KWG, XLM, SPEC, NWF, INL
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 02-Feb-22
Scooping the sauce of smallcaps

HIRO Metaverse Acquisitions (HMA1) put on your rose-tinted VR headset and witness a new IPO bandwaggon. Will buy "business operating in the sectors of video games, esports, interactive streaming, GenZ social networks, connected fitness & wellness and metaverse technologies". [SP=NA Cap=NA]
Chamberlin (CMH) £1.8m placing at 5p, a 31% discount, "to enable the Company to execute its strategy and will strengthen the Company's balance sheet, giving it more flexibility to manage and achieve its optimum financial position" ie keep the lights on. [SP=7 Cap=5m]
Beeks Financial Cloud (BKS) $2.2m 4 yr contract for its recently launched Proximity Cloud offering. Guides FY(June) rev ahead of current market expectations. [SP=169.55 Cap=95m]
Cambridge Cognition (COG) £2.1m 3 yr contract to provide digital assessments for two neurodegenerative disease clinical trials. [SP=121 Cap=38m]
Empiric Student Property (ESP) recent revenue occupancy up from 81% to 84% (68%), at the upper end of guidance. Confirms planned div resumption in Q1 2022. [SP=88 Cap=531m]
SRT Marine Systems (SRT) contract to supply commercial AIS Class A transceivers to the Panama Canal. No $$$. [SP=48.24 Cap=79m]
Intercede (IGP) $0.5m US contract, recognised this FY. [SP=70 Cap=40m]

In line: WAND, DX.
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 03-Feb-22
Sending the dogs into the rat-infested reaches of news

BATM Advanced Communications (BVC) booted out any FTSE index from 12 Mar as its nationality reassigned from the UK to Israel. Buyback of up to 10% of cap. [SP=60 Cap=263m]
Omega Diagnostics (ODX) VISITECT covid test gets CE mark for self-test use. It's conditional upon the submission of additional data and follow-up reports by 31 March. [SP=9.5 Cap=17m]
SEEEN (SEEN) guides FY(Dec) rev $8.5m down 16% and adj EBITDA -$1.5m (-$2.1m). In line? Outlook positive. Gets its own ticker wrong in the RNS. [SP=22 Cap=11m]
Proteome Sciences (PRM) guides FY(Dec) rev up 7% and pretax c.0 (£0.24m). "We carry forward a strong order book into 2022." [SP=4.64 Cap=14m]
Avacta (AVCT) scrapes a bit of good news as Phase I trial of AVA6000 Pro-doxorubicin advances to the next dose level following a positive review of the safety data. [SP=82.35 Cap=209m]
Creo Medical (CREO) guides FY(Dec) rev ahead of expectations, at just over £25m. [SP=118 Cap=214m]
Braemar Shipping Services (BMS) guides FY(Feb) rev £101m+ (£84m) and U/L op profit c. £9.8m up 27%. However an additional cash bonus of £2.8m will be charged to profits. "The proposed [bonus] changes should however positively impact reported profitability in future years as the charge to profitability of the deferred equity is similarly reduced". [SP=270 Cap=87m]
Virgin Wines (VINO) guidds FY(June) rev and profit slightly below market estimates. Blames "uncertain trading and macro environment, coupled with numerous headwinds in relation to increased cost pressure." [SP=197.5 Cap=110m]
M&C Saatchi (SAA) extends PUSU deadline to 3 Mar. [SP=177 Cap=216m]
Solid State (SOLI) wins multi-million £ contract to design, develop and qualify computer consoles for maritime platform from BAe. [SP=1130 Cap=97m]
Cizzle Biotechnology (CIZ) the MoU with iCCAMT and Shenzhen Intelliphecy Life Technologies has been executed to develop and market co's early lung cancer diagnostic tests in China.An initial pilot covering 300 patients is planned at China's premier cancer hospitals. [SP=2.25 Cap=6m]
Hyve (HYVE) AGM stmt. Trading resilient. "However, uncertainty with regards to new variants and geo-political developments in Russia and Ukraine remain. Preparations for all scheduled events continue as planned, while contingency plans are well rehearsed." [SP=102 Cap=297m]
Crimson Tide (TIDE) guides FY(Dec) rev slightly ahead of expectations of £4m and slightly smaller losses than the £700k expected at the EBIT and PBT levels. "Our goal remains to reach EBITDA breakeven during 2022, however, we believe that top-line growth is open to us across our sectors and internationally and we will invest capital further where we see opportunity." [SP=2.74 Cap=18m]
Alliance Pharma (APH) fined £7.9m by the CMA which finds that four companies, including Alliance, have infringed competition law. Appealing. [SP=113.4 Cap=610m]

In line: SCS
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 04-Feb-22
Top Cat-astrophe

Windward (WNWD) guides FY(Dec) annual contract value up 38% but EBITDA loss slightly higher than expectations due to tech sector wage inflation. "Encouraged by momentum across the business, investment in headcount continued in Q4 and into the new year, ahead of an expected acceleration in new business and revenue growth in 2022." [SP=178 Cap=145m]
DX (DX.) stink from under the floorboards grows. Auditor, Grant Thornton, resigns citing concerns over: (i) actual or potential breaches of law and/or regulations; (ii) the performance of the investigation and subsequent corporate governance inquiry; (iii) the provision of inaccurate information, which in Grant Thornton's view did not give a full picture of the scale and seriousness of the facts. Co protests that "reasons provided by Grant Thornton accurately reflect the current situation", Recall that NEDs leading the inquiry resigned 2 days ago. Remains suspended (I'm not referring to the bodies under the floorboards). [SP=30 Cap=172m]
Zytronic (ZYT) admits it forgot to include a div payment resolution in the AGM agenda. Will correct. [SP=152.65 Cap=17m]
Mobile Streams (MOS) launching new services in India in partnership with Vodafone India in Q1 2022. In discussions with the Jio mobile network in India regarding new service launches. [SP=0.44 Cap=11m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 07-Feb-22
RNSs rehashed in a flash

Eleco (ELCO) CFO resigns but will stay for handover. He is not thanked. [SP=96.5 Cap=81m]
Gulf Marine Services (GMS) CFO resigns but will help with handover. He is thanked. [SP=6.18 Cap=60m]
Water Intelligence (WATR) guides FY(Dec) rev up 44% and pretax up 36%, above exp (whose?). "Market demand for the Group's solutions continues to grow rapidly, fed by the increasing price of water and strong government infrastructure." [SP=870 Cap=154m]
Lamprell (LAM) guides FY(Dec) rev up 15% in $, Some project milestones delayed into FY22. Profit "affected by additional costs associated with significant impacts of COVID-19 on the supply chain and labour availability". Sounds like a warning. "The recovery in oil price has also improved bidding dynamics in Oil & Gas, which currently includes USD 3.3 billion of bid pipeline opportunities. In the past few weeks there has been a number of large-scale offshore awards in the Middle East totalling circa USD 10 billion. We view this development as an indication of significant pressure on capacity in the near and medium term." [SP=35.2 Cap=145m]
MTI Wireless Edge (MWE) wins orders worth $1.6m. [SP=68.95 Cap=61m]
Filta (FLTA) guides FY(Dec) rev up 44%. Profit? Jan 22 rev up 62%. [SP=132 Cap=38m]
Argo Blockchain (ARB) mined 172 Bitcoin in Jan (Dec:214) due to an increase in network difficulty. Rev £5.26m (Dec: £7.82m). [SP=77.66 Cap=364m]
Ten Lifestyle (TENG) contract renewed in EMEA region after competitive tender. No £££. Included in expectations. [SP=119 Cap=99m]
Mode Global (MODE) agreement with technology-driven ecommerce platform Heroes, which will enable employees of the firm to take some of their monthly salary in Bitcoin. Perhaps MODE will let its staff take salary in Heroes (Chocolates). [SP=14 Cap=13m]
SpaceandPeople (SAL) guides FY(Dec) rev up 61%. "Trading has continued to recover in early 2022 in both the UK and Germany and the Board is increasingly confident on the outlook for the business." [SP=9.12 Cap=2m]
EPE Special Opportunities (ESO) NAV 455.66p/sh up 4% yoy. "The Board will monitor the development of the portfolio over the coming period." Well that's good. [SP=306 Cap=117m]
Asia Strategic (SHWE) ticker changes to ASIA tomorrow. [SP=12.95 Cap=28m]
Zinc Media (ZIN) guides H2 adj EBITDA c. £0.5m and FCF positive, ahead of management expectations. £9m of revenue booked which is expected to be delivered in 2022 (£9m). [SP=79 Cap=13m]
Lok'nStore (LOK) guides H1(Jan) self-storage revenue up 34%. Price per sq. ft. of occupied space up 18.5% and unit occupancy up 6%. In line? [SP=1012.5 Cap=304m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 08-Feb-22
Hurried smallcap scribblngs

Beeks Financial Cloud (BKS) £2.5m contract extension over three years [SP=168 Cap=95m]
Avon Protection (AVON) $204m max 5 yr contract to supply the U.S. Defense Logistics Agency with the second-generation Advanced Combat Helmet. Initial revenues are expected in FY24. [SP=1103 Cap=342m]
Tungsten (TUNG) PUSU deadline extended to 22 Feb. [SP=34.6 Cap=44m]
Deltex Medical (DEMG) £1.4m subscription at 1.25p, a 9% discount. to keep the lights on. £0.5m debt facility (from its chmn) extended to end 2023. [SP=1.25 Cap=7m]
LBG Media (LBG) guides FY(Dec) rev up c.80%, £54m, slightly ahead of expectations. Adj EBITDA slightly ahead of expectations of £16.2m. [SP=185.2 Cap=382m]
B.P. Marsh (BPM) NAV £155m. total return 4% over last 6 months. [SP=344.5 Cap=129m]
IXICO (IXI) £1m 5 yr contract for Phase 1b/2 trial in neurodegenerative diseases. [SP=45.7 Cap=22m]
Numis (NUM) AGM stmt: Q1 rev in line with the strong second half performance of FY21 but a slower start to Q2. [SP=299.64 Cap=341m]
UK Mortgages (UKML) to merge with TwentyFour Income Fund (TFIF). Guides acquisition value 83.32p/sh. [SP=74 Cap=132m]
Filtronic (FTC) H1(Nov) rev up 12%, broadly in line with internal forecasts. Guides H2 in line [SP=11.64 Cap=25m]

In line: MTW
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 09-Feb-22
Pinning the tail on the donkey of data

John Menzies (MNZS) rejects 510p offer, up from 460p. [SP=335 Cap=308m]
Photo-Me (PHTM) guides FY22 rev above mgmt exp after strong Q1. Cites hiring of a number of new Senior Managers. FY21 results delayed to end Mar due to covid. Nothing in audit needs to be brought to the attention of shareholders. [SP=74.64 Cap=282m]
OptiBiotix Health (OPTI) long strategic and commercial update: will use £2m from sale of stake in SkinBioTherapeutics to "broaden and expand the Group's sales and marketing team, accelerate new product development, increase marketing spend and explore direct to consumer channels in strategic markets...invest in acquiring new technologies." Also signed three deals with market leading partners in Dec. [SP=43.04 Cap=38m]
Galliford Try (GFRD) appointed to a £1.8bn new public sector framework in the North West. Co as won places on six lots in total. [SP=180 Cap=200m]

In line: SYS1, CSH
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 10-Feb-22
Nutribulleted RNSs

Kin and Carta (KCT) guides FY(July) organic net rev-cont up 35-40% up from 30% with margin unchanged. [SP=218 Cap=380m]
Pittards (PTD) guides FY(Dec) rev up 30% slightly ahead of market estimates and pretax in line. Expects a further improvement in sales and profit in FY22. [SP=62.75 Cap=8m]
Dekel Agri-Vision (DKL) Jan palm oil CPO prodn up 20%, all time record price of CPO of €995/T. PKO prices also strong. However cashew production remains at around 15% of capacity due to component delays. [SP=5.01 Cap=27m]
Nanosynth (NNN) re Volz JV progress: Volz agrees to convert production line to provide the capability for nanosynth's alphaviron layer to be included in Volz's product range. "This is extremely beneficial to the JV Company, Virosynth." NNN issues £500k of warrants at 1p. in lieu of cash to pay for its share of costs. [SP=0.78 Cap=16m]
Active Energy (AEG) gets "a "notice of intent to sue" letter from the Southern Environmental Law Center (the "SELC") alleging that the Company is discharging wastewater without the required permits from its Lumberton property in North Carolina. This notice follows on from the original claim made by SELC, which was announced by the Company on 4 May 2021, to which the Company has actively sought resolution". Co "is not currently operating at Lumberton and has not discharged any wastewater other than what is required under its permit." [SP=0.18 Cap=10m]
Gusbourne (GUS) guides FY(Dec) net rev up 95%. In line? The sector continued to recover from covid. [SP=70.85 Cap=43m]
Silver Bullet Data Services (SBDS) new contracts. No £££. [SP=223.95 Cap=30m]
Solid State (SOLI) guides FY(Mar) rev £80m+ vs f/c £78.4m. Adj pretax well ahead of f/c of £5.9m. Very strong trading at the recently acquired Active Silicon business. [SP=1155 Cap=99m]
Crimson Tide (TIDE) contract from Cisco Meraki worth £400k+ across its initial term. Also "an expansive strategic partnership with Cisco Meraki". [SP=2.17 Cap=14m]
S&U (SUS) guides FY(Jan) pretax above consensus expectations. Expects 2022 to gradually see a full rebound to normal motor sales conditions. Second interim div 36p (25p). [SP=2720 Cap=330m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 11-Feb-22
Alpha to Omega, the new hero to zero

Omega Diagnostics (ODX) £7m fundraise at 5p, as trailed, to keep the lghts on or "to drive growth in the profitable and growing Health and Nutrition Business, whilst also providing the necessary finance to relocate CD4 production to the Company's new, purpose-built manufacturing facility..." SP was 18p only a month ago and 90p a yr ago. [SP=7.25 Cap=13m]
TP Group (TPG) exceptional costs up from £2.1m to £3m re contract liabilities in Maritime.." In recent weeks, the Board has been working closely with operating management to review legacy contracts in the Maritime business and it is apparent that project governance has been inadequate." Also £1m write-down of intangibles. Guides consultancy business in line. [SP=3.38 Cap=26m]
MYCELX Technologies (MYX) guides FY(Dec) rev up 20%. In line? Ops continue in line. Guides FY22 similar growth. [SP=75.48 Cap=15m]
Facilities by ADF (ADF) guides FY(Dec) rev c.£27.8m and adjusted EBITDA c.£7.5m+, ahead of market expectations. Strong order visibility for this FY. [SP=82.38 Cap=62m]
Mobile Streams (MOS) buys LiveScores services that it had previously been operating under a revenue share agreement. Pays £125k in shares plus £75k earn out. [SP=0.47 Cap=12m]
Aew UK Reit (AEWU) gets planning for Glasgow site. Sale expected to complete after the standard 3-month judicial review period. [SP=117 Cap=185m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 14-Feb-22
Heiq spins new yarn

Proton Motor Power Systems (PPS) guides FY(Dec) rev €3.2m (€2,1m). Orders this FY already €1.3m. [SP=16.39 Cap=248m]
Circle Property (CRC) conditionally sells property for £34.5m, 1.5% over book. Needs a GM to approve. [SP=207 Cap=59m]
CentralNic (CNIC) guides Q1 rev materially ahead of growth rates implied by consensus expectations. [SP=130 Cap=326m]
Diaceutics (DXRX) wins 3 yr data subscription contract worth over $2.5m. [SP=109.06 Cap=93m]
HeiQ (HEIQ) HUGO BOSS development partnership for HeiQ's new sustainable yarn. BOSS buys $5m holding in HEIQ subsidiary at an implied valuation of US$200m. Also the LYCRA Company will become the exclusive distributor for HeiQ AeoniQ yarns. [SP=84.5 Cap=110m]
MTI Wireless Edge (MWE) guides FY(Dec) profit marginally lower than expected due to strong Shekel vs $. Maintains FY22 guidance. [SP=69.43 Cap=60m]
Inspiration Healthcare (IHC) $1.37m order for ventilators. [SP=96.36 Cap=67m]
Ethernity Networks (ENET) to restore plans to produce the contracted UEP platform, which is a higher-end product. "Moreover, to overcome the current components shortage, the Company is also collaborating with two existing customers to secure components for thousands of units expected to be deployed during 2022/23. The collaborations with existing customers and efforts in securing supply of components will allow Ethernity to accelerate progress over the next 2 years towards mass production." [SP=33.5 Cap=25m]
Volex (VLX) enlarged debt facilities will support ongoing growth plans. [SP=277 Cap=439m]
Polarean Imaging (POLX) additional research unit order for a Xenon Polariser system from McMaster University. No $$$. [SP=58.02 Cap=124m]
Real Good Food (RDG) returns to it sour form as Dec and Jan sales are much lower than expected. Blames "severe shortages, and erratic deliveries, of certain ingredients and services, compounded by high absence rates." Guides small FY 'profit' at EBITDA level. [SP=NA Cap=NA]
CT Automotive (CTA) guides FY(Dec) rev c.$133m, ahead of expectations. EBIT slightly ahead of expectations. [SP=174 Cap=NA]
Studio Retail (STU) administration [SP=115 Cap=100m]

In line: UPGS
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 15-Feb-22
The Great British Rake Off

John Menzies (MNZS) repeats its Get Stuffed response to 510p offer. [SP=465 Cap=427m]
PCF (PCF) expects FY(Sep) results end May, shares will be temporarily suspended on Apr 1. Guides FY loss. "The Group has started its drive back to normalised origination levels." Q1 £19m (£49m), Expects Q2 double that. [SP=10.5 Cap=26m]
LoopUp (LOOP) guides FY(Dec) rev £19.5m (£50.2m) and EBITDA £0.9m (£15.m), broadly in line with market expectations. Outlook "Due to the longer lag from bookings to revenue in Cloud Telephony, combined with continued expected pressure on its Remote Meetings business, the Group expects FY2022 revenue to be in the £15-16m range." [SP=12.89 Cap=13m]
Kistos (KIST) oxymoronic Value Creation Plan will hand up to 15% of the value created for shareholders over 5 years to mgmt. [SP=356 Cap=295m]
Smartspace Software (SMRT) guides FY(Jan) rev up 15% and adj EBITDA -£2.5m or better (£2.1m), slightly ahead of market expectations. Outlook "The recent push to return to the office has seen a significant pick up in orders and movement in our sales pipeline, in particular in the UK. While Evoko Naso sales continue to be slower than we would like to see, they are in line with our current forecasts." [SP=67.11 Cap=19m]
Metro Bank (MRTO) CFO scarpers, immediate effect. He is thanked. [SP=NA Cap=NA]
Graft Polymer (GPL)hanges FY end from May to Dec. No reason given so not at all suspicious. [SP=22.2 Cap=NA]
RBG Holdings (RBGP) Lionfish subsidiar boosted by £20m litigation investment arrangement. [SP=122.25 Cap=117m]
Minoan (MIN) update on 'The Project'. Creeping forward. New Greek Development Laws will help. [SP=1 Cap=6m]
Oncimmune (ONC) further commercial contract under its existing master services agreement with a large pharma. [SP=140 Cap=97m]
MySale (MYSL) guides H1(Dec) Gross Merchandise Value up 36%. Inventory A$6.1m, higher than expected. "The recent trend in trading continued throughout January and February to date. While the Board continues to monitor the Company's position, it is considering a number of strategic financing options available to manage its working capital, including reducing the A$6.1m inventory balance of which over 65% is fully paid." [SP=3.75 Cap=32m]
EQTEC (EQT) extends conditional Land Purchase Agreement relating to the land for proposed 25 MWe Billingham waste gasification and power plant.£750k part payments will be made by Sept. £250k variation fee. Longstop 23 Dec. [SP=0.81 Cap=69m]
Verici Dx (VRCI) its two lead in vitro diagnostic assays, Clarava and Tuteva, have successfully completed analytical validation under the CLIA requirements, meeting comprehensive criteria for robust assay performance. Results of the clinical validation study expected at the end of Q1 2022. [SP=44.8 Cap=63m]
Softline (SFTL) Q3 gross profit up 25%. Recurring rev over 55% of overall turnover. "Bringing the company to the stock market was a dream we have since fulfilled, and we have already embarked on the next chapter on our journey to reach our Dream 2.0..." Blurrgh. [SP=NA Cap=NA]

In line: NEXS, FEN
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 16-Feb-22
Shares digested in stomach acid

Filta (FLTA) rec offer from Franchise Brands. 1.157 shares = 170.7p, an 8% premium. [SP=156.75 Cap=46m]
Silver Bullet Data Services (SBDS) puffs up its 4D marketing tool. "4D is a contextual intelligence cloud-based platform that enables advertisers to connect with consumers in the post-cookie advertising era." [SP=211 Cap=28m]
Ocean Outdoor, (OOUT) guides FY21 rev up 44%, ahead of previous guidance. Adj EBITDA £18.6m. Co "continuing to evaluate a number of options, including a potential sale, following interest and conditional offers received". [SP=9 Cap=503m]
RA International (RAI) guides FY(Dec) rev c.$54m, in line. U/L EBITDA c.$7m. hit by "general inefficiencies of operating under COVID-19, including travel restrictions, quarantine requirements and supply chain delays. G&A costs increased by USD 2m in the year, reflecting the full year impact of investment undertaken in 2020 to support anticipated growth." [SP=37.99 Cap=65m]
1Spatial (SPA) $0.8m three yr contract from Montana for its Next Generation 911 solution. 7th state to adopt this. [SP=44.06 Cap=49m]
Crossword Cybersecurity (CSS) IASME, UK Government Cyber Essentials Partner, has selected Rizikon Assurance as the core platform to support a new Maritime Security certification. [SP=NA Cap=NA]

In line: ARBB
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 17-Feb-22
Chewing through the ribs of RNSs

Novacyt (NCYT) its direct-to-PCR COVID-19 test is the first approved in the UK. No need for a category 2 laboratory to handle the samples. [SP=195.6 Cap=166m]
Inspiration Healthcare (IHC) guides FY(Jan) market expectations with rev up 11%, adj EBITDA £6.2m+. On track for the completion of new manufacturing, tech support and R&D facility in Croydon. [SP=96.02 Cap=65m]
BATM Advanced Communications (BVC) guides FY(Dec) rev and EBITDA slightly ahead of market expectations. Expects FY22 in line. [SP=49.3 Cap=217m]
SkinBioTherapeutics (SBTX) product dev updates. Sounds in line. [SP=51.26 Cap=80m]
Checkit (CKT) guides FY(Jan) rev down 7% but ARR better than expected, up 43%. [SP=44.49 Cap=48m]
Yourgene Health (YGEN) Clarigene covid test approved in UK [SP=9.15 Cap=67m]
Gulf Marine Services (GMS) 7-month contract for a smaller vessel. [SP=5.8 Cap=59m]
Zenova (ZED) distributor for thermal insulation and fire protection products throughout the construction sector in US. [SP=15.9 Cap=NA]
Unbound (UBG) guides FY(Jan) rev up 16%, adj pretax £0.2m+ (-£6.6m). M&S to sell Hotter products online. [SP=50.5 Cap=22m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 18-Feb-22
Kicking news in the nuts

Supply@ME Capital (SYME) TradeFlow subsidiary partners with Cargoes Finance By DP World. TradeFlow in-transit & warehoused goods monetisation non-credit facility will become a choice for Cargoes clients. Though SYME says the partnership will "contribute to the Supply@Me Group's Investment Advisory revenue stream". [SP=0.12 Cap=44m]
4d Pharma (DDDD) restates H1 because warrants should have been recorded as derivative liabilities. [SP=34.45 Cap=62m]
Aeorema Communications (AEO) hikes H1 rev guidance by £0.4m to £4.9m+. Pretax £235k+. Outlook remains favourable. [SP=71.5 Cap=7m]
Taylor Maritime Investments (TMIP) four ships fixed on new time charters, each at a yield in excess of 30%. [SP=94 Cap=408m]
Cineworld (CINE) must pay $79.3m owed to former dissenting shareholders of Regal Entertainment by June. [SP=39.65 Cap=542m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 21-Feb-22
Reality replacement service for RNSs

IG Design (IGR) CEO scrapers 'for personal reasons'. He is thanked. [SP=109.94 Cap=105m]
Synairgen (SNG) phase 3 Sprinter trial fails to meet primary endpoints . [SP=173.1 Cap=349m]
Made.com (MADE) CEO leaves today 'for family reasons'. He is thanked. [SP=81 Cap=316m]
Concurrent Technologies (CNC) CFO scarpers with immediate effect. He is thanked. [SP=85 Cap=62m]
John Menzies (MNZS) a 'final' offer of 608p. Board minded to recommend it. [SP=581.84 Cap=535m]
Venture Life (VLG) small-scale clinical trial indicates that a mouthwash containing CPC can inactivate covid in the mouth for up to 1 hour. "Further large-scale clinical trials are now needed to establish whether CPC-based mouthwashes could provide a simple, yet effective preventative measure." [SP=44 Cap=56m]
Clipper Logistics (CLG) approach at 690p + c. 230p in shares. Board minded to recommend a firm offer. [SP=777 Cap=796m]
Morses Club (MCL) HCC division hit by a rapid increase in claim volumes submitted via claims management companies. Cuts FY22 adj pretax guidance to 20% and 30% below current consensus. CEO scarpers. He is not thanked. [SP=41.1 Cap=57m]
Hargreaves Services (HSP) a 50% owned JV exchanged conditional contracts and will generate combined revenue in excess of £50m for the JV. [SP=500 Cap=162m]
Graft Polymer (GPL) expects an increase in commercial orders following successful trials. "In preparation to meet demand, the Company has moved to a two-shift operation at its Slovenia production facility." [SP=20.8 Cap=NA]
Cellular Goods (CBX) inaugural wellness range of five Feel Better and Look Better products disappoints. Rev below internal forecasts. Partly blames Google, Facebook and Instagram banning advertising cannabis-derived products. Will start selling on Amazon. New CEO to make everything better. [SP=5.76 Cap=30m]
Next Fifteen Communications (NFC) comfirms rumours of potential acquisition of Engine UK. [SP=1177.5 Cap=1093m]

In line: FIF
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 22-Feb-22
Trading tapas selection

Titon (TON) warns margin squeeze will make FY(Sept result significantly lower than mgmt exp. Blames usual suspects. [SP=98.88 Cap=11m]
System1 (SYS1) guides FY(Mar) rev over £1m short of mgmt previous expectations due to a "sudden and unanticipated reduction in the forecast for bespoke consultancy project sales in the US". [SP=360 Cap=46m]
Beeks Financial Cloud (BKS) $2m Proximity Cloud contract. [SP=160 Cap=90m]
Tungsten (TUNG) PUSU deadline now 8 March. [SP=34.2 Cap=43m]
Image Scan (IGE) warns of significant loss in H1 due to disruption in the automotive industry, delayed orders. [SP=2.9 Cap=4m]
Ceiba Investments (CBA) turns out doing business in Cuba can be tricky. FY21 will be hit by a drop in tourism income from the hotels of Miramar and the expected lower valuations of both the hotel assets and the Miramar Trade Centre. Cuba has a "tenuous liquidity situation" and hard currency transfers from Cuban banks are delayed. [SP=55 Cap=81m]
Windward (WNWD) launches its Ocean Freight Visibility solution which "will alert freight forwarders and cargo owners to any potential delays to the shipping of their cargo in real time, allowing them to regain control of their containers' voyage data, elevate the customer experience...". I wish Ryanair would provide an elevated customer experience. [SP=153.4 Cap=127m]

In line: ANG
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[Hallucigenia]

I wish Ryanair would provide an elevated customer experience.

One would have thought that customers experiencing elevation is a pretty basic part of being an airline?

Whilst I'm here, I'll mention that I've started nursing my old RNSbot back to health, starting with the oilies. It still needs quite a bit of work before it is fully automated again, but the flipside is that it will always do a better job if it has some human supervision.

[MrContrarian]

Smallcap Sweep. 23-Feb-22
Curling in the lap of losers and winners

OPG Power Ventures (OPG) coal prices have decreased significantly since the peak in October. Plants will be operating at a lower capacity for the remainder of FY22 and revenue and net profit will reduce in comparison with FY21, as previously guided. [SP=10.06 Cap=40m]
Peel Hunt (PEEL) guides FY(Mar) rev marginally below the bottom of the previously guided range and earnings will be lower than market expectations. Blames delayed deals due to poor investor sentiment. [SP=175 Cap=215m]
SEEEN (SEEN) strategic partnership with Kinetiq, a leading media intelligence platform, to provide "end-to-end" solutions for brands, networks and publishers to better manage and measure audience experiences. Kinetiq seeks to integrate SEEEN's AI technology into its media intelligence platform. [SP=20.01 Cap=10m]
CAP-XX (CPX) to supply prismatic supercaps for Tier 1 vehicle mfr. Expected volumes for the model years 2024 through 2030. [SP=5.3 Cap=27m]
Invinity Energy Systems (IES) £700k grant for Longer Duration Energy Storage (LODES) Demonstration. It covers expenses related to the project feasibility study and includes the purchase of two Invinity VS3 units. [SP=71 Cap=82m]
Ted Baker (TED) Q4(Jan) rev up 35%, margin up over 350 bps. In line? Net cash in line. Confidence in FY23 targets. [SP=87.95 Cap=162m]
Seraphine (BUMP) warns FY22 rev marginally below expectations and adj EBITDA pre-IFRS 16 significantly below expectations at c.£4.5m. Feb soft. Blames everything but mgmt: higher Customer Acquisition Costs in Feb, underestimation of sales tax and duties in new markets of Canada & Switzerland, higher than anticipated promotional activity at the end of Dec and Jan to clear stock and higher warehousing & transport costs. Guides FY23 rev up 25-30% and EBITDA margins to start to rebuild. [SP=202 Cap=103m]
Eco Animal Health (EAH) two marketing authorisations in China for Aivlosin Water Soluble Granules. Aivlosin is the first antimicrobial registered for use in laying hens producing eggs for human consumption. [SP=162.2 Cap=110m]
ADVFN (AFN) indicative proposal regarding buying a 10% share (at or around the current market price) and a business collaboration by an overseas investor operating in a similar business segment to ADVFN. [SP=59 Cap=15m]
Genedrive (GDR) distribution agreements covering Spain, Portugal, Oman and the United Arab Emirates for its rapid point of care molecular test for Covid. As you recall it uses Reverse-Transcription Loop Mediated Isothermal Amplification. [SP=14.4 Cap=13m]
Begbies Traynor (BEG) guides FY in line but "administrations (typically larger and more complex instructions) remain much lower than pre-pandemic levels. A return to more normal activity levels in this marketplace is now more likely to benefit our new financial year rather than the current year." [SP=119.57 Cap=183m]

In line: SEE, GHH, AVG, TRCS
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

I wish Ryanair would provide an elevated customer experience.

One would have thought that customers experiencing elevation is a pretty basic part of being an airline?

Pun intended.

[MrContrarian]

Smallcap Sweep. 24-Feb-22
Chambers' pot shrinks, still stinks, as he leaves ADVFN with 2 yrs pay.

ASA International (ASAI) Jan biz update with no summary to guide us. [SP=116 Cap=123m]
Versarien (VRS) changes FY end from Mar to Sept for no reason. Also switches auditor. Outgoing auditor says there are no matters connected with its resignation which should be brought to the attention of members or creditors. Nothing to see here, move along. [SP=25.01 Cap=49m]
ADVFN (AFN) CEO and all round big head Clem Chambers resigns after activist pressure. He will help the transition. His obscene 3 yr termination contract negotiated down to 2 yrs in cash and shares. He is thanked. [SP=75 Cap=20m]
Poolbeg Pharma (POLB) has signed an agreement with OneThree Biotech, a biology-driven artificial intelligence company, to identify new drug targets and treatments for Respiratory Syncytial Virus. Co claims it "will allow us to break new ground in data-driven drug discovery, by allowing us to evaluate and interrogate human challenge trial data like never before." [SP=5.2 Cap=NA]
Seeing Machines (SEE) to deploy world-first pilot fatigue detection system for Air Ambulance Victoria. 10 yr contract worth A$1m initially. [SP=7.9 Cap=328m]
Costain (COST) negotiates £10m off settlement of legacy Peterborough and Huntingdon contract. Pays £43.4m. [SP=45 Cap=124m]
itim (ITIM) guides FY(Dec) rev in line, EBITDA (excluding IPO costs) above market expectations at £2.1m. [SP=102.01 Cap=32m]
Live Company (LVCG) first live show since the pandemic: a new potentially multi-year live show in Battersea Park in Aug. The cult of LEGO, with kits of up to £500, continues to amaze me. [SP=5.03 Cap=8m]
Skillcast (SKL) guides FY(Dec) rev £8.3m+ and adj EBITDA £1.1m+. ARR up 29% and is now 62% of rev. In line? "Earnings were supported by an increase in professional services revenue late in the year." [SP=35 Cap=31m]
Macfarlane (MACF) FY(Dec) ahead of market expectations. Rev up 26%, EPS up 24%. Outlook "We anticipate that 2022 will see ongoing inflationary pressure on input prices, continuing supply constraints on most raw materials and operating costs increasing due to staffing pressures. However, despite these challenges, trading in the early months has been encouraging." [SP=123 Cap=194m]

In line: TRI, APTA, VIC, NTQ
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian