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More dilution but at least trading resuming and company still in business. I look forward to contracts turning into profits and a much, much higher share price. GLA.
Company Update
Fri, 2nd Sep 2022 12:09
RNS Number : 1349Y
Catenae Innovation PLC
02 September 2022
Catenae Innovation PLC
("Catenae" or the "Company")
Company Update
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that, further to the announcement released by the Company on 30 June 2022, the board of the Company currently expects that it will be in a position, by 1 October 2022, to notify and publish its audited final results for the year ended 30 September 2021 and its unaudited interim results for the six-month period to 31 March 2022. The Company also provides an update in relation to the ongoing claim made by certain minority shareholders of Hyperneph Software Limited ("Hyperneph").
Suspension
The Company's shares were temporarily suspended from trading on AIM pursuant to AIM Rule 41 with effect from 07:30 on 1 April 2022 as it was not in a position to complete the audit of its financial statements for the year ended 30 September 2021. A company's shares can remain suspended up to 6 months from the date of suspension, following which its shares would be cancelled from trading on AIM.
Following the publishing and posting of both sets of accounts referred to above by 1 October 2022, the Company expects that trading on AIM in the Company's ordinary shares will be restored. There can be no certainty nor guarantee that the Company will be able to meet the suspension deadline for the publication of its audited full-year results or for its unaudited interim results.
Hyperneph
Further to the announcement made on 30 June 2022, the Company has appointed John Farthing, Chief Financial Officer of the Company, and Sherene Thompson, spouse of Brian Thompson (Chairman of the Company), to the board of Hyperneph with immediate effect. The Company continues to defend the claim made by certain minority shareholders of Hyperneph and has submitted a counterclaim for the amount of circa £290,000.
- Ends -
Tumbleweed
Another loss, at least not that bad as last time (halved) but cash might be running low after another two of such hits if they don't find a way to finance it.
And without audited report in 3 months - it's delist scenario.
remain positive
Positive? You must live in alternate reality to the rest of us. That RNS almost confirmes they are going to eventually delist.
A claim against them still being made by hyperneph and they are counter claiming. So legal costs.
No mention of the accounts at all. The very reason they suspended hasn't been mentioned. No explanation for why they still haven't got them out and no mention of any date when they intend to publish them.
"There has been no material change in the Company's financial position since it was last updated on 17 May 2022"
Mon, 30th May 2022 07:00
RNS Number : 1434N
Catenae Innovation PLC
30 May 2022
Catenae Innovation PLC
("Catenae" or the "Company")
Update
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, provides the following update.
Trading update
The Company has received a purchase order for £95,000 from an existing customer to provide further digital technology solutions to the customer. It is expected that at least half of this purchase order will be fully satisfied in the current financial year.
Furthermore, an agreement has been renewed with another existing customer securing in aggregate £19,000 of revenues, which the Company anticipates more than half of the revenue will be recognised in the current financial year.
Hyperneph Software Limited ("Hyperneph")
Further to the announcement made on 17 May 2022, the Company advises that Michelle Gurney has resigned as a director of Hyperneph, a 51% subsidiary of the Company.
The Company continues to defend the claim made by certain minority shareholders of Hyperneph. The Company will be making a counterclaim in due course.
Suspension
The Company's shares were temporarily suspended from trading on AIM pursuant to AIM Rule 41 with effect from 07:30 on 1 April 2022 as it was not in a position to complete the audit of its financial statements to 30 September 2021. A company's shares can remain suspended up to 6 months from the date of suspension, following which its shares would be cancelled from trading on AIM.
There has been no material change in the Company's financial position since it was last updated on 17 May 2022.
- Ends -
I hope they keep it suspended and reverse a company into it and turn shareholders losses into profit.. :)
Blaimthrower not questioning your integrity.
Questioned if your statement on Monday 12:53 ‘ the BOD have lined theirs and their friends pockets at the expense of share holders.’ was libellous?
As an investor here I’m obviously very concerned.
But Thankyou for your posts
I don’t have the relevant, information, facts to question what you say is true or untrue
mitch984 says they are 100% accurate so I don’t think anyone can argue against that.
I remain the hopeful fool.
Feel free to point out anything that is untrue about my last post Interise.
If you still can't see what is going on here then I'd suggest that serious investing isn't for you. I'm not trying to be insulting, this is genuine advice.
I've tried to warn people for over 2 years about this company and all I've gotten for it was abuse and accusations that I'm just a bitter ex holder (I've never held CTEA stock). All the time the SP has gone lower and lower and the business has made zero progress. There have been spikes but they have been pump and dumps on fluffy news. Just burning through cash for their wages. Even worse than their very healthy salaries was buying a former directors business for over £200k when it had 0 customers. The business is not real. It's a front. I called it when. the Hyperneph RNS first came out and the man who answered sounded exactly like Mr Meyer himself from all the interviews. I asked who i was speaking to but was just told it was Hyperneph. I enquired about some of their services. About cloud hosting etc.. Being in the industry myself, it was instantly clear they were just blagging it. The Mystery Meyer on the end of the phone didn't have a clue. Why don't you try and make contact with CTEA or Hyperneph and see how you get on.
CTEA was suspended because the accounts would not be published on time. How many times do you see that? NEVER. Companies will just ask for an extension and then publish a month or 2 after they were due. They don't get suspended. It's almost a month since they said they would publish them now and nothing has been said.
CTEA is brown bread.
Its only libellous if it is not accurate.
And Blaimthrower's post is 100% accurate.
Thanks for replies.
Not sure you can call it dead just yet? Although signs are quite ominous.
Blaimthrower surely a libellous post you by yourself?
However I remain hopeful guy Meyer can turn this around and move the company forward.
Yes, its dead. In reality its been dead for about a year but rampers like nbul and investing incompetents like Bradley have tried to give the illusion the business was making any sort of progress when all that has happened is the BOD have lined theirs and their friends pockets at the expense of share holders.
i would suggest so - the business looks dead tbh - I'd love to be surprised but I'm expecting no return on my punt (thankfully a small one)
Any thoughts on the outcome here?
Infact any thoughts on what the company has been up to or is currently doing??
There has not been any meaningful rns since last September and that was to only state they were exhibiting at uk construction week!
Invested in ctea last year put my belief in guy meyer and the team to build and take the company forward.
Have I made another grave error :(
Not my style really, although my style isn't working in this instance lol.
Gut is telling me that this is done. All they have to do is wait and not publish the accounts, then we'll be cancelled, people will lose money and in a years time it'll just be one of those investments to "learn from". Can't believe I fell for the whole process again.
Should write a post and tag him into it calling him out, he sure will reply to that!
I wonder how long we got to wait because a date hasn't even been given this time?
DYOR GLA
..Guy on LinkedIn to see if he had any thoughts about whether I'd see my money again, messaged a week ago, still no reply. Bye bye money. So happy I continued to average down after those proactive interviews.
Indeed, their last set of accounts looked via a fag packet, so dont get why they couldnt do it on time this time. Even then their revenue significantly lower than its mounting operational debt, got to think where along the line do their creditors cut the cord. Not holding out for the next set of accounts to be any prettier, then again could go into administration by then to save face. Everything is leased inc the very platform they use their products on which must have a few yrs left on it. We can only wait n see.
Quite possibly basta, yes. (Serious answer)
CTEA could well have run out of money and is unable to raise anymore via placings because of them having no real business for people to invest in.
Wait until the 29th of April for the audited report and accounts if it gets released on time according to the BOD, be patient until then!
Look into other UK Stocks that have been in this position in the past year and you will see if you money is lost or not.
DYOR GLA
IS THIS DEAD, HAVE WE LOST OUR MONEY? (serious enquiry)
Ohhh the irony.
Being suspended on April 1st is rather apt don't you think?
GL.
it does have a strong balance sheet with zero debt