Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Also this update is to end of March rather than to today
Rns looks good. Some nice stuff in there about commercialisation
News due very soon I think next week
Booom
Seems no update on the COVID project...
Half-yearly report to 31 March 2020
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, is pleased to announce its half-yearly report for the six months ended 31 March 2020.
Financial overview
· The results for the half year are set out in full below and show a loss of £364,013 (2018: £503,233) with revenues of £19,892 (2018: £68,857).
· Shareholders approved a consolidation of share capital which enabled a fund raise of £153,000 and conversion of £404,250 liabilities to shares resulting in an improved balance sheet with net liability position of £533,840 (2018: £399,980) compared to the year-end position of £727,077.
Operational overview
· Renewal of contract with Southend United Community and Educational Trust for "OnSide", Catenae's centralised management tool specifically developed for sports organisations.
Post period end
· Development of the Cov-ID app, a joint initiative by a consortium of companies led by Z/Yen Group Limited to build a COVID-19 status verification passport.
· Partnership agreement with Newcastle Premier Health Limited, an occupational health and wellness business based in the North East of England, to pilot the Cov-ID app
· Kevin Everett stepped down as Interim Non-executive Chairman
· Appointment of Brian Thompson and John Farthing to the Board as Non-executive Chairman and Chief Financial Officer respectively
· Appointment of Brandon Hill Capital Limited as sole corporate broker
· As at 26 June 2020 the Company had cash balance of just over £1.0m
Guy Meyer, Interim Chief Executive Officer of Catenae, said: "Significant progress has been made during the period under review towards implementing the Group's revised strategy following the corporate restructuring that took place in 2019, and we have seen this momentum continue to date.
"We are delighted that the Cov-ID app that Catenae has developed as its commercial contribution to the consortium led by Z/Yen Group Limited completed the recent pilot trail with our clinical partner, Newcastle Premier Health Limited, as part of their Access Control Programme. The app should shortly be ready to be marketed for the benefit of businesses and organisations as Covid-19 restrictions begin to ease.
"Our recent fundraises have provided us with the funds required to continue to explore further opportunities. We look forward to keeping the market updated with our progress."
Chief Executive's Statement
Business and performance review
Following the successful corporate restructuring and business stabilisation process carried out by the Board in 2019, Catenae was able to focus its efforts on delivering on its new strategy in the six months to 31 March 2020, by innovating its products and exploring new opportunities for growth. This positive momentum has continued post period end, with two new Board