Ananda Developments (LON: ANA) says that MRX1 cannabidiol based medical oil is on track for a commercial launch in July. The latest season of medical cannabis flowers trials are exceeding expectations. The share price jumped 35.2% to 0.595p.
Invinity Energy Systems (LON: IES) reduced its full year loss from £21.3m to £19m and expects a jump in revenues this year. There was £15.3m in the bank at the end of May 2023 and the Riverfort loan facility has been repaid. The revenues backlog is £23.7m. The share price moved ahead by 32.9% to 48.5p, which is the highest level this year.
Dan Bower purchased 25,000 shares in SuperSeed Capital (LON: WWW) at 94p each. SuperSeed Capital has issued 100,000 investor warrants to VSA Capital exercisable over six months at 112p each in order to help liquidity.The share price improved by 9.09p to 90p.
KR1 (LON: KR1) reported a 62% fall in net assets to £70m at the end of 2022, which is 39.47p/share. The share price rose 6.12% to 52p.
Boru Ltd has made a £500,000 investment in EDX Medical (LON: EDX) at 8p/share. The share price edged up 3.85% to 3.375p.
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Fallers
There was £787,000 of cash used in operations at Wishbone Gold (LON: WSBN) in 2022. There was still £1.23m in the bank at the end of the year. The share price slumped 20.9% to 1.7p.
Probiotix Health (LON: PBX), which was spun out of AIM-quoted OptiBiotix Health (LON: OPTI), grew full year revenues by 19% to £1.3m. Confirmed orders for 2023 have already reached £1.1m. Plans for line extensions should help to grow sales. There was £1.74m in the bank at the end of 2022. The share price slipped by one-fifth to 4p.
Global Connectivity (LON: GCON) reported a 2022 profit of £360,000 because of a £616,000 write back of an intercompany loan. There was £75,000 in cash on 16 June and £550,000 will be received in repayments of intercompany loans over 18 months. Management is seeking opportunities to invest in. The share price dipped 18.5% to 1.1p.
TruSpine Technologies (LON: TSP) has repaid a £100,000 loan from Annabel Schild out of a £200,000 R&D tax credit payment. The share price fell 14.3% to 0.9p.
Adnams (LON: ADB) says trading improved in June, but the outlook for the rest of the year is uncertain. The share price declined 7.52% to 6150p.
Guanajuato Silver Company (LON: GSVR) reported an upgraded mineral resource for the El Cubo mines complex and there are 5.8 million ounces equivalent of silver indicated and nearly 20 million ounces inferred. A resource estimate for the San Ignacio mine will be completed later in the year. The share price slipped 5.56% to 25.5p.
In the year to March 2023, VSA Capital (LON: VSA) turnover improved from £3.61m to £4.36m and the pre-tax profit increased from £281,000 to £612,000. That profit is after an increased loss on investments from £443,000 to £860,000. The intangible assets will be fully amortised by March 2026. There was a £540,000 cash outflow from operating activities, compared with a cash inflow of £229,000 in the previous year. The reason for the cash outflow is that £2.28m of revenues were settled in shares. This is due to the payment in shares for advice relating to the Aquis-quoted Silverwood Brands acquisition of a 19.8% stake in skincare products supplier Lush. This transaction has run into problems with the registration of the shares and that hit the Silverwood brands share price. Net cash was £740,000 at the end of March 2023, while the value of investments rose from £692,000 to £2.14m. NAV was £4.37m at the year end. VSA Capital chief executive Andrew Monk bought 514,200 shares at 5p each. The share price fell 5% to 9.5p.
Cadence Minerals (LON: KDNC) reported a dip in net assets from £22.2m to £21.3m. There was an unrealised loss on investments of £4.59m in 2022, but that was partly offset by the money raised in a share issue. The share price slipped 3.66% to 7.9p.
Valereum (LON: VLRM) is still waiting for regulatory permission for the acquisition of the Gibraltar Stock Exchange. The plan is to focus on growth companies in the Middle East, Africa and India. The share price edged lower by 1.02% to 4.85p.
