OptiBiotix Health (LON: OPTI) is the worst performer today with a 26.8% slump to 20p after it said that sales of the core prebiotics business fell in the first half due to customer delays in restocking and postponing of product launches. Larger partners are placing fewer, but more significant orders, which can make revenues lumpy. Orders may recover in the second half as delayed product launches happen. Since its spin-off on Aquis, 40%-owned ProBiotix Health (LON: PBX) is no longer consolidated, which is no surprise to any but the most naïve people. That spin-off has resulted in a gain in book value of £13.8m. There is £1.5m of cash. The share price of 20.7%-owned SkinBioTherapeutics (LON: SBTX) has been falling in recent weeks. It fell a further 7.9% to 20.5p today. This may be because OptiBiotix has previously sold shares to raise cash, although SkinBioTherapeutic revenues have also been disappointing.
Oil and gas company Arrow Exploration (LON: AXL) reported a 17% increase in proved reserves to 3.567 MMBls and the net present value jumped 164% to $77.7m. Additional drilling targets have been identified. There will be a five well programme commencing in the fourth quarter. The share price fell 13% to 16.75p, although it had been rising in previous days and is still higher than at the beginning of August.
The share price of Haydale Graphene Industries (LON: HAYD) has fallen 8% to 2.3p following the post-close announcement yesterday that it was raising £5m at 2p a share and there is going to be an open offer at the same price that could raise up to £510,000. The share price had already declined 12.3% to 2.5p before the placing announcement.
Membrane-free electrolyser technology developer Clean Power Hydrogen (LON: CPH2) has been hit by engineering and scale up issues, as well as supply problems. Sales income from the initial units will not be realised until 2023. The company’s cash position should be higher than forecast due to a recent licencing deal. The share price slipped by 7.45% to 43.5p, which means it is below the February placing price of 45p.
Shares in investment company Drumz (LON: DRUM) have risen on the back of stakebuilding by James and Olga Simmons. They took a 3.04% stake in May, and this has subsequently increased to 5%. The share price rose 24% to 0.775p and it has risen 47.6% over two days.
Esports company Gfinity (LON: GFIN) has launched Athlos Game Technologies, which is a tournament-based platform that can help to increase average revenues per user. The share price recovered 14.3% to 1.2p. In March, Gfinity raised £2.7m at 1.25p.
Cornish Metals Inc (LON: CUSN) says the four latest drill holes at the South Crofty tin project in Cornwall have intersected multiple mineralised zones. Including tin, zinc and copper. The assay results will go towards developing a mineral resource. This has pushed up the share price by 5.63% to 18.75p.
Yacht services provider GYG (LON: GYG) directors have been buying shares ahead of the general meeting to gain shareholder approval for the cancellation of the AIM quotation. That has helped the share price recover 5.26% to 20p. Before the cancellation announcement the share price was 31p.
Rail and events software and services provider Tracsis (LON: TRCS) beat forecasts in the year to July 2022 and the shares have moved ahead by 4.67% to 1055p. finnCap has upgraded its earnings forecast from 33.2p a share to 34.5p a share. There was a sharp recovery in the events and traffic data business, while the other businesses continue to grow. Implementations of Tracsis software continue despite the rail strikes. The full year results will be published on 9 November.
