AIM movers: Mirriad Microsoft deal

In-content advertising company Mirriad Advertising (LON: MIRI) is working with Microsoft to integrate its new application programming interface with Microsoft Azure. This is a positive for the technology, but cash is still flowing out of the business. Even so, the share price quadrupled to 4.4p, which is the highest it has been since the beginning of the year. That could make it slightly easier to issue shares, but any share issue would still be heavily dilutive.

Japan Petroleum Exploration is acquiring a 49.9% stake in the Norway-based subsidiary of Longboat Energy (LON: LBE) in return for a cash injection of $16m, plus a finance facility of $100m. There is a further contingent cash payment of $4m linked to an acquisition. If there is a discovery at Velocette then up to $30m more cash could be injected by the new partner. The share price jumped 118% to 20.75p.

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Braveheart Investments (LON: BRH) subsidiary Paraytec gained CE Marking for its CX300 rapid cancer and pathogens test instrument. It can be sold to researchers. The tests correlate 100% with PCR tests. The 80%-owned Kirkstall is already getting interest in its QV1200 technology that enables testing of drugs without the use of animals. The Braveheart Investments share price doubled to 14p.

T42 Lot Tracking Solutions (LON: TRAC) shares rose 47.4% to 7p following the announcement that it had secured a strategic partnership with Ashdod port in Israel. This will help to promote tracking products.



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Solgenics (LON: SGN), formerly known as Ncondezi Energy, intends to leave AIM. Management does not feel that the quotation is effective for such a small company with a lack of liquidity, and it wants to focus on the Tete solar project. A working capital loan has been agreed in principle with directors. The share price slumped 54.8% to 0.26p. This represents a recovery on the initial share price decline after non-exec director Scott Fletcher acquired 31.4 million shares, taking his stake to 27.3%.

Life sciences company Aptamer Group (LON: APTA) says that potential deals are slow in converting into commercial projects and it will require more cash. In the ten months to April 2023, revenues were £1.4m and Liberum has slashed its full year forecast from £5m to £1.8m, down from £4m last year. The monthly cash outflow is £500,000 and costs are being cut. That could cut the cost base to £4.5m. Net debt is expected to be £1m at the end of June 2023 and £2.5m is estimated to be required to be raised to get the company to June 2024. The share price slumped 49% to 13p. The December 2021 flotation price was 117p.

Supercapacitors designer CAP-XX (LON: CPX) has raised £2.5m at 1.3p a share. The share price slumped 48.6% to 1.375p. Anthony Kongats is stepping down as chief executive, although he has subscribed for new shares. A retail offer that could have raised up to £500,000 generated £180,000. The cash will fund product development and marketing.

Graphite technology developer Versarien (LON: VRS) is raising £532,000 at 1.25p. The share price slipped 46.4% to 1.15p following the announcement. The cash will pay for commercialisation of products and fund working capital. More cash will be required and the fall in the share price will not help. A new strategic plan will be published in a few weeks and the mature cutting tools business may be sold.

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