Kondor AI (KNDR) joined the Access segment of Aquis on 21 September having raised £1.5m at 3p/share and by the end of the week the share price was 8.25p. There was £400,500 raised in November. Kondor AI intends to develop artificial intelligence products in areas such as health diagnostics, search and text recognition. A beta demonstration product is being tested.
Last week’s new admission Investment Evolution Credit (LON: IEC) has risen 233% to 20p on the week. The flotation price was 4.5p.
Secured Property Developments (LON: SPD) has appointed Paul Ryan as executive director and Noel Lyons as non-exec and they have acquired £150,000 worth of shares at 26.11p each. The existing directors resigned. It appears likely that the focus may change to technology and cleantech. Peterhouse has become corporate adviser. The changes sparked a 60% rise in the share price to 20p.
Coinsilium Group (LON: COIN) says a recovery in cryptocurrency markets is having a positive effect on the company. The expected approval of the first spot Bitcoin ETF should create more opportunities. The share price recovered 29.6% to 1.75p.
Aquaculture technology developer OTAQ (LON: OTAQ) had a strong second half and full year revenues will be £4.4m, which is higher than expected. Oil and gas demand has improved. There was positive EBITDA in the second half. There are opportunities in Geotracking for next year. The share price moved ahead 28.6% to 4.5p.
Vanadium flow batteries developer Invintiy Energy Systems (LON: IES) says full year revenues will be at least £21.6m, which is below forecast, and the EBIDA loss will be higher than expected at £22m. That means net cash will be around £1m. Forecast revenues for 2024 have been downgraded and the loss raised. This is based on exiting projects. Canaccord Genuity believes that there will be a cash injection from a strategic partner, which will offset the cash outflow in 2024. The share price increased 16.4% to 32p, the highest level for one month.
Valereum (LON: VLRM) has renegotiated the acquisition of the GSX Group, which is dependent on the approval of shareholders. It is paying five million shares and 10 million warrants exercisable at 1p each. The deal includes GATENet DFMI intellectual property, which puts the group in a strong position in tokenisation. The GATE token will the sole token used. As part of the deal former AIM boss Simon Brickles will become a non-executive director. GSX chief executive Nick Cowan will take up that role in the group. The share price improved 11.4% to 4.9p. This is the highest the shares have been since June.
Good Life Plus (LON: GDLF) completed its reversal into Semper Fortis Esports. There was £1.4m raised at 2p/share. The share price improved 11.1% to 2.5p. The business has been trading for just over two years and it offers members daily prize draws. There are more than 21,000 active members and monthly recurring revenues are £210,000. The company is currently loss-making, partly due to investment in marketing, although the increasing scale means gross profit is improving. The cash will fund further investment in marketing. Sportingbet founder Mark Blandford is one of the new investors.
Tap Global (LON: TAP) is reporting figures for the year to June 2023 on 28 December. The shares are 10.8% higher at 2.05p.
Wishbone Gold (LON: WSBN) is exercising the option over the Crescent East lithium and gold project in Western Australia. In return, 18.6 million shares worth around £400,000. Gold mineralisation has been confirmed and there is potential for lithium in the southern area. The share price rose 3.57% to 1.45p.
Incanthera (LON: INC) has secured a commercial deal with a subsidiary of health and beauty company AS Watson for the launch of the Skin + CELL skincare range. This should generate significant revenues in 2024. The plan is to roll out the brand to 1,000 stores in Europe, followed by Asia. Manufacturing has been subcontracted. To fund this, £800,000 was raised at 7p/share and £200,000 of debt owed to the University of Bradford was converted into shares. There was net debt of £199,0090 at the end of September 2023. The share price improved 3.17% to 6.5p.
Personalised medicine company EDX Medical (LON: EDX) had £1.1m in the bank at the end of September 2023. There was £1.5m outflow from operating activities in the six months to September 2023. The share price edged up 2.22% to 5.75p.
FALLERS
Mydecine Innovations Group Inc (LON: MYIG) is the largest faller on the week with a 70.6% decline to 2.5p, even though it has received notice of allowance from the US patent office for the MYCO-005 compound. It mimics psilocin but without some of the side effects.
ChallengerX (LON: CXS) has moved from net assets of £282,000 to net liabilities of £33,000 at the end of June 2023. The share price dipped 11.1% to 0.8p.
Rogue Baron (LON: SHNJ) has raised £50,000 at 0.35p/share. The share price dipped 9.52% to 0.475p. The spirits company is still performing due diligence on the acquisition of a vodka brand.
Marula Mining (LON: MARU) says dual listings on the Nairobi Stock Exchange and JSE should happen in the first quarter of 2024. Indicative terms have been received indicative terms for an offtake agreement with a European commodity trader for the lithium output of Blesberg lithium and tantalum mine. Transportation of the modular processing plant for the Kinusi copper mine will not happen until early 2024. The share price fell 5.77% to 12.25p.
Cadence Minerals (LON: KDNC) investee company European Metals Holdings (LON: EMH) says that the definitive feasibility study for the Cinovec lithium project in the Czech Republic has been delayed until the first quarter of 2024. This will allow time to complete capital and operating cost estimation and project implementation scheduling. The Cadence Minerals share price slipped 7.62% to 4.85p and the European Metals Holdings share price slipped 21.9% to 20.5p.
SulNOx Group (LON: SNOX) says that its Ghana-based distributor has purchased 3,700 litres of SulNOxEco fuel additive and committed to a minimum of 15,000 litres each year, which is valued at £250,000. SulNOx has raised £1.8m at 23p/share. The share price is down 1.92% to 25.5p.
