End of hibernation?25 Apr 2024 19:24
We'd be getting some updates soon on CTM reagents production, unit sales etc? According to this TP Note (FWIW, a bit dated from mid-Feb), things should start improving from H2 onwards:
https://www.turnerpope.com/wp-content/uploads/2024/04/1.-MicrosaicSystemsplc_19-2-2024_FINAL_BG.pdf
Some potential sources of cash/revenue:
1. Tax credit refund - 250k (but potentially eaten up by an LSE fine of up to £300k? see link to a similar case:
https://www.bclplaw.com/en-US/events-insights-news/london-stock-exchange-aim-company-public-censure-and-fine.html
2. 5 units shipped/invoiced b4 Y/E 2023, so maybe the £262k invoiced has been received already?
3. pipeline of 19 units at Y/E 2023, so potential sales of another 5-10 units in H1 2024???
4. £500k (see TP Note, page 2) from Qatar re installed (in 2022) CTM units' reagents?
5. other MicroTox reagent sales / consumables to existing base of MW clients?
6. Sulphate Reducing Bacteria Test kits ("SRB Kits")- "quality checking initial production of SRB Kits in the coming weeks, before making them available for purchase".
Quoting from the RNS re 2022 Results, "the Directors have included the expected cashflows arising from the acquisition of the trade and assets of Modern Water, which is expected to be cash positive within the next twelve months" i.e by Y/E 2024.
Also in H2 24, we should get the conclusion of commercial testing of ProteinID and PFAS detection technologies, with possible licensing deals.
Current Mkt Cap of 1.8mln is probably equal, or less than its Cash!
Note - my comments are for existing, well under water Holders (who already know about GJB's shenanigans etc) so please let's try to keep the BB on a positive footing.
GLA, DYOR