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Good morning all, yes 2 RNSs updating and detailing the financial position of the company.
Also the Covid ID Project is getting the final touches before it can be use in the wider world so let's see if all this have some positive effect on the SP today? Good luck all
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
We may have a multibagger boys if they commercialise
https://v-healthpassport.co.uk/product/ at the bottom of this page I think closed loop is a term they use for blockchain as the use of the blockchain tech frightens many so they avoid telling users that is what it is. If so they are way ahead of Catenae with commercializing but are not a plc. Overstock advise blockchain firms not to mention blockchain.
Surely cannot endorse COVI PASS without endorsing COV-ID when ready to go if they both do the same thing. VST a British firm based in Manchester.
Good to see this holding well with increased volume. We should be up considerably by mid week. GLA
I think it is an App called COVI PASS
https://greatgameindia.com/covi-pass-biometric-rfid-enabled-coronavirus-digital-health-passports/
Anybody knows more?
Nice find
https://www.chainzy.com/case-studies/cov-id-project/
https://
www.
chainzy.
com/case-studies/cov-id-project/
Catenae Innovation plc, an intellectual-property client of Z/Yen using ChainZy - providing expertise and their own propriety technology which is currently deployed across the Sporting, Man-guarding and Facilities Management sectors whose clients include Charlton Athletic Community Trust (CACT) where Catenae’s SaaS is used by CACT in fulfilling their numerous service contracts to The Royal Borough of Greenwich.
Sir Mark Sidwill to stand down as Cummings gets his way with the PM to upgrade the civil service. This could be good for the general use of digital services as Cummings is a bit of a geek but needs to prove how useful things like digital passports could be to cut costs and tackle the effects of sars2
Maybe they got them to trial it out
There will always be competition I suppose, like the CEO has mentioned in previous interviews. Look at Apple and Android. But at least this 100% confirms the requirement/usage for the App for any doubters out there. Very much looking forward to hearing who’s opted for this one now
Vste provide the passport the other company conduct the test. The advantage Catenae are likely to have is cost: the premiership testing and passport set up is extremely expensive
In any case the app relating to football is dating back to 5th June if you keep up with the news
Sorry to disappoint you all but the app has been developed by Prenetics in Hong Kong, all clubs will be using it starting with all FA cup ties today.
we defo need some news this week nice to see the sp holding though
I’m not sure if anyone’s been watching the football today, but i just saw a very interesting clip of the Chelsea players arriving at Leicester city’s ground.
Each player had their phones scanned prior to entering, so I thought to myself what could that be? After a very quick google search I come across this:
https://www.premierleague.com/news/1680551
I found this in the report:
“These people must have a "clinical passport", a bar code either as a print-out or on their phone. This is scanned to check their most recent test result is negative before they can enter the stadium.”
Now I’m pretty sure this is EXACTLY what this App does! :-)
My limited understanding is that it would be good news that they had exercised the warrant. It would mean they now have ordinary shares that would benefit in any increase ( of fall) in the share price. Feedback from other shares I have been in is that when someone cashed in their warrant it was generally a positive indication that they thought positive news and therefore an increase in the SP. was on the way. DYOR
My understanding is that it would be shares sold to a new partner that is now involved in the app. Which is why they got a discounted rate, but also the same rate as they’ve previously sold them at when receiving Extra funds.
Lol
They could have sold forward if they had wished to sell.
I can see red on Monday if not for any good news. But hope 10 mil should be absorbed relatively easily.