News blog

Quoted Micro 4 August 2025

BY: Andrew Hore |
POSTED: 03/08/2025 |

AQUIS STOCK EXCHANGE

Oberon Investments Group (OBE) increased revenues by two-fifths to £9.36m in the year to March 2025 with all divisions growing. Corporate broking improved revenues in a tough period for the stockmarket by winning new mandates. Financial planning doubled revenues. The loss increased from £2.88m to £4.14m because of higher administrative expenses. This includes a £268,000 share of the loss of associate Logic Investment. During the period the stake was raised from 55.5% to 66.25%, before a sale of just over 11% for £320,000 cut the shareholding to 55.2%. That generated a gain of £101,000. Oberon Investments does not exercise control over the business so does not consolidate its figures. It is seeking to further reduce the shareholding. Net cash was £1.8m at the end of March 2025.

Invinity Energy Systems (IES) has confirmed a 10.8MWh order for a ENDURIUM flow battery for a project in Hungary and planning permission has been approved for the 20.7MWh LoDES project in the UK. LoDES will be given a £10m grant and the flow batteries should be delivered by the end of 2025.

Vehicle electrification technology supplier Equipmake (EQIP) had reduced its underlying cost base by 35% in the quarter to June. New IT is being installed. In the year to May 2025, revenues dipped from £8.1m to £4.4m because of disruption from the strategic review. The operating loss was £11m. Cash was £3.9m at the end of May 2025. Trading has improved in the new financial year. The contracted order book is worth £5.2m.

Valereum (VLRM) is raising £400,000 from a subscription at 3.1p/share by the chairman and chief executive and a further £100,000 may be raised from a retail offer. The cash will be used to invest in technology development and growing the business, including additional regulatory approvals. A Bitcoin treasury reserve is being set up.

Hydrogen Future Industries (HFI) says that the auditor does not have enough evidence to confirm the £641,000 valuation of intangible assets at the end of June 2024. The auditor also pointed out that the company is loss making and cast doubt on it being a going concern. Directors have provided £65,000 in loans.

Marula Mining (MARU) has a memorandum of understanding with the Geological Society of Kenya (GSK), and it initially lasts for one year. GSK will offer a consultant network, and the company will offer opportunities for up to ten graduates. The company also has a five-year collaborative research agreement with Jomo Kenyatta University of Agriculture and Technology.

NYCE International (NYCE) director Farzad Payman bought 5.47 million shares.

Vaultz Capital (V3TC) raised £2m at 7.75p/share, while subscriptions, including by Aura Digital, raised a further £4.275m and broker fees are being paid in shares. Further fundraisings are planned. Erik Benz has been appointed chief executive. Aura manages and controls crypto assets.

Lift Global Ventures (LFT) is refocusing its investing policy on AI and there are advanced discussions with a potential investee company. WANdisco co-founder David Richards and Mark Horrocks have been appointed to the board. Th redemption date of the loan to Trans-Africa Energy has been extended to the end of October 2025.

Amazing AI (AAI) chief executive Paul Mathieson bought 3.05 million shares at 0.64p each and 820,000 shares at 0.6p each. He owns 56.8%.

Supernova Digital (SOL) had net assets of £4.73m, including cash of £19,000 and £3.11m of cryptocurrencies, at the end of April 2025.

Ananda Developments (ANA) increased research and development spending from £123,000 to £299,000 in the year to January 2025. The operating loss was reduced to £3.77m.

Coinsilium (COIN) owns 124.4239 Bitcoin at a total cost of £10.9m. The average price was £82,230.26/Bitcoin.

Fintech investor Eight Capital Partners (ECP) improved net assets from £12.8m to £31.3m because of an unrealised gain on investments, mainly related to the IAF2 bond investment.

Shortwave Life Sciences (PSY) has raised £250,000 at 0.25p/share. The cash will be spent on the core healthcare business and on investment in digital currency. Stephen Molloy has been appointed to the board.

KR1 (KR1) generated £368,0000 in income from staking activities during June. NAV was 40.69p/share at the end of June.

Vault Ventures (VULT) is planning to acquire Kingbridge Capital in an all-share deal at a share price of 0.0225p, which is a large premium to the market price. The acquisition will help with execution and custody for crypto assets. The deal includes £375,000 of Ethereum and cash.

Clean fuel additives supplier SulNOx (SNOX) generated record revenues of £523,000 in the quarter to June 2025. That is 157% ahead of the first quarter of the previous financial year. Volumes have trebled. Cash was £1.8m at the end of June 2025.

Social impact company Inqo Investments (INQO) had net assets of R300.8m, including cash of R48.8m, at the end of February 2025. Full year revenues rose from R20.6m to R25.9m and there was a swing from loss to profit. That is mainly due to an increase in grant income from R1.7m to R19.8m.

Fenikso (FNK) has received $537,000 as part payment for the Lekoil loan, which has been reduced to $36.3m. The cash is helping to pay down the Savannah Energy Investments loan, which is down to $1.96m. The share price declined 2.78% to 1.75p.

The Smarter Web Company (SWC) has raised a further £19.7m at 325p/share. There are still 7.94 million shares to be placed. There are 2,050 Bitcoin owned with a total cost of £166.8m.

Hot Rocks Investments (HRIP) has bought 40,000 warrants in The Smarter Web Company for £1 each, taking the holding to 300,000 warrants, exercisable at 2.5p each.

Good Life Plus has left Aquis.

ASSET MATCH

Zytronic (ZYT) had net assets of £9.22m at the end of September 2024. The company is being wound up.

AIM

Legacy UK Holdings has made an indicative offer of 62p/share for staffing firm Empresaria (EMR), which follows two major shareholders encouraging the company to seek potential offers. The Planmatics consortium is not going ahead with the cash and loan notes offer of 60p/share, which it claims is due to a lack of due diligence materials being supplied by the company. Net fee income fell in the first half and trading remains tough.

Trading is going well at business support services provider Restore (RST). Interim revenues were 15% higher at £160.1m and pre-tax profit 10% ahead at £18m. Following the purchase of Synertec, net debt rose to £120.1m. The interim dividend is 10% higher at 2.2p/share. Canaccord Genuity maintained its 2025 pre-tax profit forecast at £40.5m, up from £34.4m.

NWF (NWF) benefited from an improved milk price generating higher feed volumes last year, while restructuring the other two divisions will help to further improve the performance in the year to May 2026. In the year to May 2025, revenues dipped by 5% to £903.1m, while underlying pre-tax profit improved from £12.5m to £13.2m. Net cash fell to £6.7m after spending £9.9m on two fuel acquisitions.

Restaurants operator Tasty (TAST) confirmed it was in talks with former Fulham Shore boss David Page. It was subsequently announced that he and Nick Wong are joining the board. There are plans to raise £9.25m at 0.5p/share. A retail offer has been launched to raise a further £1m at 0.5p/share and it closes on 6 August. Tasty, which will change its name to Bow Street Group, is also acquiring The Ventnor Bay Company, which has £200,000 in cash, for 40 million shares. This cash will fund a revised strategy.

Payment technology developer PCI-Pal (PCIP) published a positive full year trading statement, and the chief executive bought 110,941 shares at 45p each. A strategy review is targeting annual recurring revenues growth of up to one-fifth. Last year, they grew by one-quarter to £19.3m. An AI-based fraud risk product has been launched. There has been director buying.

Floorcoverings manufacturer Airea (AEIA) says interim sales were 6% higher at £9.81m, helped by growth in the UK. The third quarter has started strongly, and the momentum is expected to continue. The new manufacturing facility should be completed by the end of September. The interims will be announced on 30 September.

Versarien (VRS) did not find a suitable buyer for its UK graphene technology business and expects to put the graphene businesses into administration or liquidation. The Total Carbide business is still up for sale. The other remaining subsidiary is Gnanomat and the focus will be nanomaterials and energy storage technologies. Cash should last until the end of August. A strategic investment is still being negotiated.

Digital mental health products developer Cambridge Cognition (COG) has experienced delays in signing contracts and them generating revenues. Interim revenues fell 23% to £4.3m and full year guidance has been cut from £12.5m to £9.5m-£10m. This means that the full year loss would increase from £700,000 to £900,000.

Online gaming company Gaming Realms (GMR) continues to improve revenues and profit. Content licensing is doing well through launching more games and adding further partners. Adjusted interim EBITDA is anticipated to be 30% higher at £7.5m.

Kettle controls and consumer appliances supplier Strix (KETL) is being affected by tariffs, and they hampered the second quarter. Around 10% of sales go into products that are hit by tariffs, and these manufacturers are cautious about volumes. The weak US dollar does not help. This led to downgrades in revenues and profit forecasts.

Digital mental health services provider Kooth (KOO) says trading in California is in line with management expectations and there has been a positive impact report. Demand outstrip supply, although US federal cuts to healthcare spending could impact programmes. UK trading is steady. Net cash was £15.1m at the end of June 2025. The US dollar exchange rate will hold back revenues and profit.

Griffin Mining (GFM) has received $30.3m in dividends from its Chinese subsidiary. Griffin Mining has cash of $53.7m.

Nativo Resources (NTVO) has gained approval from the noteholders for the proposed restructuring. The notes will not be convertible until January 2032 unless the market capitalisation exceeds £35m. This means that the company is no longer in technical default. A placing will raise £150,000 at 0.35p/share.

Dr Graham Cooley has increased his stake in security technology provider Thruvision (THRU) from 3.17% to 6.8% and Nicholas Slater has a 3.23% shareholding. This follows the recent capital raising. Allenby has been appointed as nominated adviser and broker.

MAIN MARKET

Scottish TV Group (STVG) has been hit by a downturn in advertising and the commissioning of new programming. Total advertising revenues are expected to be 8% lower in the third quarter and 4% lower than the year before. Total advertising revenues could be between £90m and £95m. The programme production side of the business has suffered from delays, which hits margins as well as revenues. The main problem is in the unscripted area. Cost savings are being increased from £1.7m to £2.5m and there could be news of further savings with the interims.

US cybersecurity company Narf Industries (NARF) reported a decline in full year revenues from $7.57m to $3m. Delays in US government spending hampered income. Costs were reduced, but the loss rose from $1.44m to $3.56m.

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