LIBERUM: CEO Video: Yamin 'Mo' Khan, hVIVO plc

Hybridan Small Cap Feast - 25 Apr 23

25th April 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

LIBERUM: hVIVO plc* - FY’23 results ahead of expectations

Morning Note – 25 April 2023

hVIVO - FY 2022 prelims – ahead of expectations

hVIVO’s FY 2022 results exceeded expectations, with underlying (ex-£1m one-off cancellation fee) EBITDA margins reaching 16.7%. Revenues (excluding other income) rose 32% to £48.5m (FC est. £48.5m), with adjusted EBITDA and pre-tax profit ahead of forecasts at £9.1m (FC £8.6m) and £6.7m (FC £5.3m). Year-end cash of £28.4m was as previously indicated, with the company deciding to pay a 0.45p special dividend (£3.1m). With a year-end contracted order book of £76m (+65%) and continuing to grow in 2

LSE AIM - Market Screener (19 April 2023)

 The market capitalization of AIM stocks was £99.6bn as of 14 April 2023, up 5.0% since our update on 30 March 2023. Among the top YTD winners, there were Celadon Pharmaceuticals (up 236.6%), Vast Resources (+229% YTD, Mkt cap of £15.4m), Kodal Mineral (+194.4%), Clontarf Energy (+164%), Inspecs Group (+156%). Among the bottom movers, apart from companies canceling their admission to AIM, remain Applied Graphene Materials (-88%, MktCap £0.6mn), Midatech Pharma (-88.6%), Morses Club (-82%, MktC

LSE AIM - Market Screener

 The market capitalization of AIM stocks was £94.9bn as of 29 March 2023, down 4.1% since our update on 16 March 2023. Among the top YTD winners, there were Vast Resources (up 268% YTD, Mkt cap of £15.4m), Genedrive Plc (+262% YTD, MktCap £36.7mn), Craven House Capital (+141%, £0.8mn), Star Phoenix (+137%, MktCap £1.4mn), Verditek (+136%, MktCap £5.7mn). Among the bottom movers, apart from companies canceling their admission to AIM, were In The Style Group (-97%, the company has no more operati

Morning Note – 16 March 2023

Hybridan Small Cap Feast - 06 Feb 23

06 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objec

LIBERUM: UK Small & Mid Cap Dispatches

LIBERUM: Morning Comment

Morning Note – 6 February 2023

Hybridan Small Cap Feast - 25 Jan 23

25 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

Morning Note – 25 January 2023

Initial Equity Trading Comments - 15 May 2023

Mispriced despite tech headwinds

Begbies Traynor Group (BEG) - House Stock at 132p - FY23F pre-close update, small beat

Hybridan Small Cap Feast - 23 Feb 23

23rd May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

LIBERUM: Inspired Plc* - Deed of variation with Ignite

A much improved outlook, TP increased

Pressure Technologies returns from suspension today with the announcement of FY22 results that are in-line with its March trading update. Notably, there is greater confidence expressed in the outlook as market conditions and order intake have continued to improve during this calendar year. In February 2023 Chesterfield Special Cylinders (‘CSC’) won its largest ever £18.2m naval order and in March 2023 Precision Machined Components (‘PMC’) was also awarded a record £3m contract. The FY22 results

Pre-close update indicates a strong end to the year

Cenkos: IXICO Plc -- Successful execution

IXICO has reported its interim results for the six-months to March 2023, which are in-line with the recent trading update. Revenues for the period were £3.2m and the EBITDA loss was £0.6m. Cash at period end was £5.0m, the order book stood at £13.3m and the company generated operating cash inflows of £0.2m. Importantly, this period sees the final negative impact of the large trial cessations (2021/22), such that revenues are expected to grow from this point, in both H2/23E versus H1/23A and into

In-line 2022 but improving outlook

Hybridan Research: 23 05 2023: Physiomics Plc (PYC): Strategic importance of business diversification

Physiomics today announced a trading update for the financial year ending 30 June 2023 (FY23). The Board now expects that total income for this period will be approximately £660k, 12% lower than £750k previously guided on 4 April 2023, due to unforeseen delays in data delivery to Physiomics for contracted projects. The delayed contracted projects are still expected to be completed and contribute to income for the next financial year ending 30 June 2024 (FY24). Meanwhile, the Board expects to sig

Inspired+ (INSE, House Stock, 12.25p) - Variation to Ignite contingent consideration

Hybridan Small Cap Feast - 26 Apr 23

26th April 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

Hybridan Small Cap Feast - 22 Feb 23

22 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objec

Hybridan Small Cap Feast - 23 Mar 23

23 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Auctus on Friday - 21/04/2023

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Target price of A$0.100 per share: Competent person report confirms the materiality of the Welchau pospect – The Welchau prospect has been estimated to hold between 365 bcfe and 1,128 bcfe of prospective resources by Gaffney, Cline & Associates (GCA) with a mid-case at 645 bcfe including 10.1 mmbbl of condensate. While this is below the 807 bcfe mid-case estimated by ADX, the fact that the lower end of the GCA ran