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Camillus Gerard Glover – still listed as an active director for the following companies:
• Modern Water Ltd
• Surrey Aquatechnology Ltd
• Aguacure Ltd
• MW Monitoring Ltd
• Modern Water (Nominees) Ltd
• Modern Water Holdings Ltd
• Cymtox Ltd
• MW Monitoring IP Ltd
• Integrumen Ltd
• Innovenn UK Ltd
• Lifesciencehub UK Ltd
Does someone need to have a word with Fiona Joyce?
Per the interim accounts, it clearly states that they still expect to deliver commercial revenues before the end of the financial year end which is 30th June 2023. So, it can't be much longer before we hear news about Morocco or Utah presumably....
https://www.gq-magazine.co.uk/article/personalised-skincare-cosmetics-for-men
Just seen the above mentioned on LinkedIn.
Let's hope the business is able to turn things around, and gain new contracts. When/If we become profitable, being registered in Ireland means a lower tax rate compared to the UK.
Good to know that things are moving in the right direction. Glad they have clarified the Morocco project status. Onwards and upwards....
Was just checking the website under the FAQs and spotted that it now says that the site test is scheduled for early Q4. Given that the year end is June, that means early Q4 would be April. If the fuel was delivered in January, why the delay in beginning the test?
"Morocco – In June 2022, Quadrise signed a new Material Transfer & Cooperation Agreement with the client, under which an industrial demonstration test using MSAR® and bioMSAR™ will be carried out at a client site. The MSAR® fuel for this test has now been manufactured and is being delivered to Morocco, with bioMSAR™ following imminently. The site test is now scheduled for early Q4. Upon successful completion, the parties will enter into discussions for potential commercial supply before year-end."
Can't believe it's been 10 years since I invested here. Didn't realise that they'd been involved in Mexico for for 15 years. Could this turn into a rabbit out of the hat scenario? Surely we will also hear about Morocco before the half year update in March???
With today's RNS the acquisition does indeed look good. £6m of 2023's revenue in the bag.
What do we think £25m in total or is that too conservative?
Looks like a busy start to the year for Glanaco Limited per posts on LinkedIn: https://www.linkedin.com/company/glanaco/posts/
Perhaps this was actually a good acquisition after all?
Just found a flyer in the post from Skin and me. Similar concept but reviews I've seen haven't been too positive. Then again neither are the Skin Trust ones on Google play, mind there aren't that many on total.
Nice to see a new partner for the Skin Trust Club.
https://www.linkedin.com/feed/update/urn:li:activity:7020752235269615616/
Looking forward to the new management's outlook for 2023.
AGM is on the 7th February 2023. Found this on the website. The agenda looks pretty standard, so hopefully we should get an update on the accounts pretty soon and get the suspension removed.
Good old LinkedIn - have discovered that the former Head of Operations at Labskin UK who was also a Chief Engineer at Modern Water and Deepverge is now the New Commercial Director at Microsaic.
Good old LinkedIn - have discovered that the former Head of Operations at Labskin UK who was also a Chief Engineer at Modern Water and Deepverge is now the New Commercial Director at Microsaic.
Quote from the Irish Independent "“This £25m mezzanine loan ensures availability of funds for growth, avoids stock market fluctuations, eliminates the need for a discounted equity dilution of shareholders,” said Mr Brandon, who is Deepverge’s CEO."
https://www.independent.ie/business/irish/deepverge-buys-corks-glanaco-and-secures-25m-expansion-loan-41463696.html 19th March 2022
He actually lives in Poland.....
Per the Deepverge website:
Procedures have been put into place to ensure the CEO and the CFO state in writing to the Board that the integrity of the financial statements is founded on a sound system of risk management and internal compliance and control and that the Company’s risk management and internal compliance and control system is operating efficiently and effectively.
Let's hope this can be backed up.
Not sure why this wasn't explored as a funding option. Surely would have been better than the mezzanine loan they took out. Still thinking that they hopefully will get things sorted out.
Begs the question why they didn't consider a rights issue earlier in the year. Could still be an option I guess?
Agreed. We knew about the Modern Water link, but not the Skin Trust one. That's got to be a good sign of things for the future...
Q25: Any updates you can give regarding partnerships with Microsaic and Abingdon Health
Microsaic is such an under-rated turnaround project. That we cooperate on upgrading equipment in Modern Water and take their PFAS technology and roll it out through the Modern Water distributor channels makes it work so well. Abingdon Health is also a development that will offer multiple revenue streams as extensions in the field for Modern Water monitoring and is a perfect marketing tool to quickly show potential clients that they have a problem, even before installation. Once the client is shown the problem, it becomes so much easier to offer a long term monitoring service and large equipment installation. This is as useful for legionella in stagnant water in hotels and on ships, as it is for acrylamides in manufacturing production of food. We look forward to rolling a range of LFT's out in the few months and years ahead as we build the fast-track offering of LFT's through the group.
So I'd say that this looks like the Deepverge deal is a great opportunity. News in the next few months or sooner, and a collaboration that is planned to last years ahead....