Retail and promotional business Spaceandpeople (LON: SAL) did slightly better than expected in 2023 with revenue of £5.8m, up from £4.7m. The company has changed its revenue recognition policy in the UK and revenues will be recognised on a net rather than gross basis. Without the change the 2023 revenues would have been more than £6.5m. The German business is recovering, and its revenues will still be recognised on a gross basis. There is no change to pre-tax profit – £90,000 is forecast. Net cash was £800,000 at the end of 2023. The share price jumped 41% to 82.5p.
Security and surveillance systems developer Petards (LON: PEG) has secured an order for the QRO Solutions business, which provides ANPR technology, worth £350,000 and it should be delivered to a UK police force this year. This is the latest contract win this year and this is offsetting the weak rail market. The cash pile underpins nearly 50% of the current market value. The share price is 23.1% higher at 7.2p, which is 84.6% ahead since the beginning of the year.
Location Sciences has changed its name to Sorted Group (LON: SORT) following the reverse takeover of the developer of delivery software for ecommerce businesses. The customer base includes Marks & Spencer, Asda and ASOS. There is a SaaS-based model, although smaller businesses can use the return service on a pay-as-you-go basis. In the year to September 2023, recurring revenues were £6.5m. The business is loss making. There was a one-for-625 share consolidation and the post-consolidation share price improved 7.91% to 145p. There was £2m raised at 87.5p/share.
Kefi Gold and Copper (LON: KEFI) has discovered a third copper gold zinc silver deposit in the Hawiah copper gold district in Saudi Arabia. Drilling intersected semi-massive sulphide mineralisation in multiple horizons over a 2,600 metre strike length at Abu Salal. Management believes there are a cluster of deposits in the area. In the next few weeks, there will be updates on the Hawiah and Al Godeyer deposits. The share price increased 5.88% to 0.684p.
FALLERS
Linear generator technology developer Libertine Holdings (LON: LIB) was the highest riser last week with a 257% jump to 6.25p and it has lost 10% to 5.625p. Libertine Holdings completed phase 1 support for the KARNO linear generator with Hyliion Holdings. Libertine’s HEXAGEN technology was integrated into the first prototype. The income from this business will help the Libertine cash pile last until July.
Atome (LON: ATOM) has raised £1.8m at 50p/share. The share price fell 8.04% to 51.5p. This cash will help to fund the green fertiliser plant at Villeta in Paraguay. The FEED study on phase 1 is nearing completion. Management is subscribing £665,000.
NICE Early Value Assessment evidence generation has commenced. It is designed to accelerate the adoption of new technologies. genedrive (LON: GDR) is in the process of submitting an application for funding for progressing the Genedrive MT-RNR1 ID Kit to a full recommendation. The share price dipped 4.86% to 4.4p.
Supercapacitors developer CAP-XX (LON: CPX) have decided not to appeal the judgment in favour of Maxwell Technologies in the patent infringement case in Delaware due to the cost and low probability of success. The share price declined 7.41% to 0.625p.