Member Info for cminhinnett

Agreed GS, lots of news-flow expected and a great opportunity to get a slice of the action before this moves again, a nice base has been formed and now we are moving back up, +10.53% at the time of this message and another 1m buy this morning showing interest. Don't forget that this nearly hit 1p back in Nov-19 and expected news is greater now than it was then, I personally don't think that it will take much to get back to 1p and beyond over the coming weeks / months.

Update re R&D tax credit

Mi-Pay (AIM: MPAY), a leading provider of digital transformation, mobile payment and payment fraud management solutions to Tier 1 Mobile Network Operators, Mobile Virtual Network Operators and digital content providers, announces an update on the receipt of a research and development tax credit by Mi-Pay Limited, the Company's wholly owned operating subsidiary.

On 22 November 2019, the Company announced that it was yet to receive a research and development tax credit of approximately £0.3 million in respect of its 2018 claim and that it had received correspondence from HMRC requesting further information. On 23 January 2020, the Company received further correspondence from HMRC, stating that no further information is required to be provided in respect of the claim and that no amendment is being proposed to the claim.

Whilst the response from HMRC does not constitute formal approval of the claim, it is anticipated that a formal closure notice will be received from HMRC in due course. Subject to the receipt of formal approval by HMRC, after costs associated with the claim, it is anticipated that Mi-Pay Limited would receive approximately £0.26 million from the claim.

It is not expected that any funds will be received ahead of the Company's general meeting on 27 January 2020, to approve the disposal of Mi-Pay Limited ("Disposal") and cancellation of admission of the Company's ordinary shares from trading on AIM ("Cancellation"). Any amounts receivable under the claim will be payable to Mi-Pay Limited and not Mi-Pay Group plc and the receipt of the credit does not affect the consideration receivable by Mi-Pay Group plc in respect of the Disposal, details of which were set out in the Company's circular dated 23 December 2019 (the "Circular").

The directors of the Company do not consider the funds receivable under the claim to materially affect the Company's working capital position. Therefore, notwithstanding this further correspondence from HMRC, it remains the opinion of Seamus Keating and Ed Lascelles, being the directors that are independent for the purposes of the Disposal, that it is in the best interest of shareholders to proceed with the Disposal on the terms contemplated in the Circular and it remains the opinion of the Board that it is in the best interest of shareholders to proceed with the Cancellation. The Board intend to vote in favour of the Disposal and Cancellation resolutions at the general meeting in respect of their direct and indirect shareholdings which, in aggregate, amount to 4,373,736 ordinary shares in the Company, representing 9.56% of the issued share capital of the Company.

Will now take 7.5m @ 0.18p and want 0.2032p to buy the same quantity, any quantity to buy is 0.189p. Something is happening be it a rerate based upon recent news or potential new news

Interesting price action this morning, the live Bid has strengthened significantly and the MMs will take 7.5m @ 0.161p, couple of small buys printed but nothing much, Live Ask has also moved to 0.169p, maybe news incoming or a decent buy.................................

Some nice buys today, 3m, 2.5m & 1m, showing that some parties are taking their position here before the rerate. Alot of news to come in the next weeks / months.

Thanks been, mine was the 100k sell. They have just moved the Bid back up to 3p again.

They were sells RR as one of them was me and the Ask at the time was much higher. I needed some cash for another share so decided to sell part of my holding in CNEL.

Ben, the last two trades yesterday were sells as the MMs had 3p on the Live Bid, still more buys then sells and shows that the MMs are short of shares.

Certainly alot healthier than a couple of months ago. I am curious why the SP has been in auction since the RNS dropped, also the 10m trade at 0.165 is interesting as the Bid hasn't been anywhere near that today, therefore I believe it is a buy, another nice buy following on from the 1m trades in recent days, people taking positions for the recovery play.

My thoughts exactly, in essence someone paying you so that you can have a showroom. Another positive piece of news, unexpected as well, which is great.

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, is pleased to announce the sale of certain items of equipment and spare parts to Mostos Vinos y Alcoholes S.A. ("Movialsa"), part of the Huertas Business Group, a Spanish conglomerate involved in the agricultural, winemaking, construction, and energy generation sectors. The equipment has been sold to Movialsa for net cash proceeds of €300,000, which have been received by the Company.

Movialsa utilises the Company's proprietary gasification technology at its 6 MW plant in Spain (the "Plant") in order to convert olive pomace waste, which is a residue of the manufacture of olive oil, into energy. The Jenbacher engines on the Plant have recently surpassed 111,000 aggregated operating hours at full expected operational capacity powered with the high quality syngas produced from EQTEC's gasifier.

As previously announced, EQTEC is targeting energy recovery from agri food residues and other industrial waste streams as one of its three identified sector verticals, where it believes it has the core capabilities to establish a significant competitive advantage through its proprietary gasification technology.

As part of the contract for the sale of the equipment and spare parts announced herein, the Group is able to arrange visits to the Plant to showcase the Group's technology to potential future stakeholders in its projects.

The equipment sold to Movialsa consists primarily of ancillary parts for the power block of the gasification plant and formed part of a series of equipment, stored at the Company's site in Newry, which was not required as consideration for the Company's investment in the North Fork project, as announced on 4 June 2019.

David Palumbo, CEO of EQTEC, commented:

"We are delighted to develop further the relationship with one of our key strategic clients. Movialsa is a leader in their agri-industry sector with extensive experience in co-generation energy infrastructure, with a plant using EQTEC's Gasifier Technology that showcases over 111,000 hours of operation since 2011. Importantly, we have been able to monetise assets whilst assisting a key client with its equipment maintenance requirements. We remain convinced of the opportunity that exists for the Group through the elimination of olive pomace waste in Spain and the Greater Mediterranean area. Our intention is to develop this market through strategic partnerships in the relevant geographies."

The decent buying seems to be continuing, I feel that a number of new shareholders see the potential, especially at this low price, hopefully provide the volume to support and continue the steady rerate in SP.

The decent buying seems to be continuing, I feel that a number of new shareholders see the potential, especially at this low price, hopefully provide the volume to support and continue the steady rerate in SP.

The second half of the year was a period of transformation for the Company with a new Board, additional funding, further cost reductions and a revised strategy utilising 7digital's market-leading technology to capitalise on the growth in music streaming.

During the year, the Company stabilised itself having secured an additional £2.1m of funding in September 2019 which, together with the intended £1m debt facility notified at that time, will bring total funding to £5m since June 2019. Management have completed a comprehensive cost reduction programme, which has decreased the operational cost run rate by over 50% since the beginning of 2019. This includes a company reorganisation as well as improving technology efficiency using cloud services. As a result, the Company expects to report that it has successfully delivered annualised cost savings of over £7.0 million.

The new year has also started positively with new contracts signed, a healthy pipeline and renewals negotiated. The Company has secured much of its expected revenues for FY 2020 and, consequently, is on track to achieve operational profitability by the end of Q2 2020.

Some strong buying today, including a 1m plus buy at 1.289p just printed, hopefully this will be the start of a move away from the lows.

Agreed lootgaloot "a good distributor can be a very effective route to market" however this clearly wasn't working for this particular product range so it has been ended. As the old saying goes, why have a dog and bark yourself. I would imagine as part of the disengagement that ITX will now supply directly to any customers that Nouryon had gained, therefore no impact on ITX, other than improved margin on those sales.

Interesting first ever post Whizzing, I wonder why you have chosen today to make that post on VAST. I like the credibility you have tried to create claiming to be a LTH, however you are trying to warn people not to buy at 0.30........... As a LTH why would you suggest this unless you have sold your holding higher than 0.22 and now want a lower entry point? Intriguing attempts by a few.

Totally agree Chilting, couldn't resist a final top-up so now locked and loaded for the longer term to profitability and beyond. Certainly Mr 767k & Mr 500k agree by the looks of it. Massive overreaction by the market IMHO.

MMs dropping the price, looking for stop losses? Whilst the RNS signals the end of a previous Commercial relationship as others have posted and is noted in the RNS itself, if it isn't working for both parties, best to end it and focus on better channels. For Itaconix that is direct selling at a higher profitability or more pricing flexibility, looks positive to me, MMs are using the spread to show buys as sells, trades at 1.20 163k & 100k are buys and not sells.

50m Buy at 0.292 just printed, timestamp 2.35pm which was at the same time when the MMs took 60m of sells without dropping the 0.29 Bid, I felt that there would be a large buy printed and it all makes sense as they simply flipped them on. Now that's a show of confidence.