Quadrise Fuels International PLC - London-based heavy fuel oil alternative manufacturer - Reports widened GBP5.0 million loss for financial year ended June 30 from GBP3.2 million loss year before. This as fair value adjustments arising on convertible securities rise to GBP1.1 million from nothing the year prior and other administration expenses increase to GBP1.9 million from GBP1.5 million. Share option costs also higher at GBP474,000 from GBP154,000. Thanks to lower operational costs it has been able to extend its period of operation with existing funds to midway through the second quarter of 2021. Has "high degree of confidence" that success in on-site trials provides "clear pathway to future commercial revenues". Additional potential of Green MSAR fuel "would enable the funding required to progress to sustainable commercial revenues to be put in place prior to mid-Q2 2021.".
Current stock price: 2.43 pence; up 7.1%
Year-to-date change: down 23%
By Anna Farley; annafarley@alliancenews.com
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