Video streaming technology supplier Aferian (LON: AFRN) says second half revenues should be one-fifth higher than those of the first half. Combined with cost reductions, this should mean that second half adjusted EBITDA of $2m. Net debt is reducing. The share price recovered 69.2% to 5.5p.
Broadband services provider Bigblu Broadband (LON: BBB) admits that it is in discussions with Salter Brothers on a possible sale of the SkyMesh subsidiary. The transaction is subject to final terms and financing. This would be the latest asset disposal for Bigblu Broadband. The share price improved 37.3% to 35p.
In content advertising technology developer Mirriad Advertising (LON: MIRI) says that its virtual product placement technology has helped a US advertiser to increase average transaction value by 51%. There was a 27 times increase in shopping compared with TV advertising. This provided a seven figure return on investment. The share price rebounded 5.45% to 0.29p.
Sustainable ingredients supplier Itaconix (LON: ITX) traded strongly in the third quarter and it is reducing its dependence on the cleaning sector. Full year revenues will be at the upper end of guidance of $6m-$6.5m. Revenues are getting back to the level they were before Itaconix shed low margin business. The share price rose 5.45% to 145p.
FALLERS
Kodal Minerals (LON: KOD) joint venture partner Hainan Mining says that the $15m owed to the Mali government should be paid by Kodal Minerals and not the joint venture that owns the Bougouni lithium project. Kodal Minerals disagrees. The share price slumped 25.8% to 0.29p.
Synergia Energy (LON: SYN) has raised £632,500 at 0.05p/share. There has also been the conversion of £296,000 of loans and £83,000 of fees into shares. The shares come with a warrant exercisable at 0.1p each. This provides funding for the Medway Hub Camelot carbon capture and storage joint venture with Harbour Energy. Synergia Energy wants to farm out up to 25% of the project. There should be a significant increase in production at the Cambay PSC from the second quarter of next year. The share price dived 22.2% to 0.0525p.
Fabless silicon chip designer and manufacturer EnSilica (LON: ENSI) slipped into loss in the year to May 2024, but there are already contracts in place for a bounce back to profit this year. EnSilica generates cash from operations, but it spent £6.1m on capitalised development. Chip supply generated flat revenues of £2.9m out of group revenues of £25.3m, up from £20.5m in the previous year. Chip supply revenues should start to build up from this year and that will sharply boost profitability. It can take two years or more for chip supply to begin and then production is built up to its peak, so there is built in growth for many years. Singer forecasts a 2024-25 pre-tax profit of £2.7m, doubling to £5.5m next year. The share price slipped 7.77% to 47.5p, which is six times prospective 2025-26 earnings. In May, the company raised £5.2m at 45p/share.
Supercapacitors developer CAP-XX (LON: CPX) has raised the full £275,000 from the retail offer and that means that £2.8m has been raised in total at 0.11p/share. The cash will fund product development and boost sales resource. The share price declined 5.26% to 0.135p.
SIMEC Atlantis Energy (LON: SAE) is working with Proteus Marine Renewables, SKFMarine and GE Verona for the supply of tidal generation systems for the next phase of the MeyGen tidal generation project. The share price fell 7.5% to 1.85p.