AIM movers: Microsaic Systems shares fall after consolidation and Eqtec draws down facility

Eqtec (LON: EQT) has drawn down a €2.9m bank facility. This will finance the Italy Market Development Centre in Tuscany and repay shareholder loans. The site will be used to promote the company’s syngas technology. This sparked a 51.1% jump in the share price to 3.4p.

Blue Star Capital (LON: BLU) says investee company Dynasty Gaming & Media has launched its new platform Lightning Dragon in the Philippines gaming market. Another investee company, SatoshiPay, is considering being acquired and there are already interested parties. SatoshiPay made a post-tax profit of €587,000 in 2022. The share price increased 29.7% to 0.12p.

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IT training services provider Northcoders (LON: CODE) has won a £10m contract from the Department for Education. This is a 19% increase on the previous contract. The funding will cover an 18 month period, with most of the funding in 2024. Forecast 2024 revenues of £8.5m are two-thirds covered by existing business. The share price recovered 18.5% to 160p.

Vast Resources (LON: VAST) has been appointed to manage and develop the Aprelevka gold mines in Tajikistan. There are three tailings dams. Vast Resources is entitled to a 10% share of the earnings before interest and tax from the 49% shareholder Gulf International Minerals. This could be converted into a 10% stake in Gulf and there is a right to acquire a further 20%. The share price improved 14.9% to 0.135p.


Trading in scientific instruments developer Microsaic Systems (LON: MSYS) has recommenced after a 625-for-one share consolidation and a placing raising £2.1m at 1.25p. The consolidated share price was 4.0625p and it has fallen to 1.4p in initial dealings, which is a 65.5% decline. Cash will be used to acquire assets from DeepVerge. Full year results for 2022 and interims for 2023 have been published.

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Cancer treatment delivery technology developer N4 Pharma (LON: N4P) says that its subsidiary Nanogenics has started work preparing ECP105 for pre-clinical studies for the treatment of Glaucoma. The idea is to prove that one does of ECP105 can match the anti-fibrotic effect of current treatment Mitomycin C without the side effects. The share price slipped 17.8% to 0.925p, losing most of the gains earlier in January.

Payment services provider Equals (LON: EQLS) continues to improve profitability and revenues grew 37% to £95.5m. There was £18.3m in the bank at the end of 2023. The full year results will be published in April. The share price dipped 3.75% to 115.5p.

LifeSafe Holdings (LON: LIFS) has secured another international partner to sell fire fighting fluids for industrial uses, where margins are higher than the retail products. Singapore-based Lingjack has a network covering the main south east Asian countries. The past disappointments of the company are still hampering the share price. The share price fell 2.86% to 17p.

Digital loyalty technology company Eagle Eye Solutions (LON: EYE) reported interim revenues growing by one-fifth to £24.1m and EBITDA is one-quarter ahead at £5.9m. Net cash improved from £5.7m to £7.8m. This is on course to achieve full year expectations of revenues of £53m and EBITDA of £11m. The share price declined 3.08% to 550p.

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