Barkby (LON: BARK) investee company Cambridge Sleep Sciences has granted a five-year licence to Sleep Sense International, which will use the SleepEngine platform to manufacture a Smart Pillow. SleepEngine is an audio product that retrains the brain to restore healthy sleep patterns. The exclusive rights to the pillow market is based on a minimum order quantity of 25,000 units in the first 12 months, which should generate £1.25m. Revenues could reach £3m in the second year. The Barkby share price jumped 74.2% to 5.75p.
Croma Security Solutions (LON: CSSG) is selling its Vigilant manned guarding business to M&W Security for £6.5m plus inter-company balances of £1.07m. After an initial payment, this will be paid in quarterly instalments. The focus will be on higher margin security systems and locks, which are trading ahead of expectations. There are consolidation opportunities in these areas. The share price increased 11.6% to 53p.
Smart sensing software developer Oxford Metrics (LON: OMG) grew interim revenues by 70% to £21.3m with entertainment revenues jumping by 178%. The interim pre-tax profit was £4.1m, up from £300,000. There is £63.6m of cash in the bank available to make acquisitions. Management says that valuations are becoming more realistic. The share price moved ahead by 10.8% to 108p.
Tertiary Minerals (LON: TYM) has received geophysical exploration data for the Konkola West copper exploration project in Zambia. The data has been shared by KoBold at no cost to Tertiary Minerals. The share price rose 4.65% to 0.1125p.
FireAngel Safety Technologies (LON: FA.) is raising more cash and a new management team has been appointed. Former Universe Group boss Neil Radley is becoming chief executive. The open offer could raise up to £6.1m at 5.05p each Ningbo Siterwell Electronic will subscribe for £2.8m of the shares, although these could be clawed back by existing shareholders. The share price fell 29.6% to 4.75p. Full year revenues were one-third higher at £57.5m, but the underlying loss increased from £3.5m to £5m. Net debt was £5.3m at the end of 2022. A further loss is expected this year.
Investment company APQ Global Ltd (LON: APQ) has reported a slump in its book value from $30.8m to $7.23m at the end of 2022. Foreign exchange movements and weak stockmarkets hit the valuation. The share price slumped 27.3% to 4p.
Gfinity (LON: GFIN) has sold a 72.5% stake in Athlos to Tourbillon for £1 and it is closing its esports division. The digital media company retains a 27.5% stake. Athlos lost £500,000 last year and it also capitalised £700,000 of capitalised development spending. Gfinity has cut its monthly cost base to £185,000. Cash has fallen to £400,000. The share price dived 24.8% to 0.1075p.
There were no significant surprises in the N Brown Group (LON: BWNG) full year results. In the year to February 2023, revenues fell from £716m to £678m, while earnings slumped from 7.4p a share to 1.4p a share. That is before write-downs and the litigation settlement with Allianz. Retail and financial services revenues were both lower, although gross margins improved helped by lower promotional activity. A further decline in revenues is expected, but profit could start to recover. The share price declined 13.8% to 23.7p.
