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My guess would be that the MM has a backlog of orders, slowly clearing them up in a controlled manner.
For the SP to remain fairly steady, I would assume that there is a big seller on the sidelines, slowly reducing their stake, but (the good scenario!) also a buyer slowly building their stake up. It will take 3-4 days for any RNS announcing any material change in shareholdings, but definitely someone is offloading big lots.

Despite the lack of news and the incessant selling, the SP is holding within this tight range; I find it positive that the market absorbs the sales volume.
In any case, the market is waiting for something concrete before rerating the company and I guess we should get something by September, both on the expenses front (synergies with DVRG hopefully reducing the cash burn) and on the revenue (progress with the Chinese and bioprocessing partnerships).
We need another year before we see meaningful revenues that should make the market take notice; until then, I am using the opportunity to top up.

You are right, thanks for the correction.
Well, in theory if the MMaker is filling a big buy order, the big trades near the mid-price could have been buys too.
Either way, such big trades ordinarily would have moved the SP hence the MMaker might be following a plan of some sort.

13 million shares approximately, sold. SP up when one would expect the opposite.
Obviously, the market maker is holding the SP up but can't say why. One possible explanation might be knowledge of a positive RNS to be announced imminently, but then why would these (insiders?) be selling?

44.6% premium, to be exact, or 110% of the price average of the preceding 90 days!
MSYS's SP dropped to about 0.20 in it s darkest days before the New Year, and has trading in a tight range of 0.22-0.25 mostly, over the past 6 months; during this period we had some important news, pointing to significant developments in the next 6-12 months.
Therefore, logic would say that the downside is fairly limited but the upside could be substantial, with or without any bid by DVRG.

CEO did mention "significant" rise in Sales in H2 (but take that with a pinch of salt);
We should hear soon, definitely in H2 (so in 2-3 months), about the HoT being signed with the Chinese with details on expected Revenues and their breakdown (product/service mix);
CPI project lasted for more than 2 years but now it's in take-off phase as we just need a collaboration deal with a Pfizer etc; longshot? We will soon know;
And still (for 2022 probably) deals on water monitoring and maybe covid breath tests, plus cancer developments;
For sure, an exciting 6-12 months coming up; against this, an "expected" market crash maybe in Autumn?
Once/if this happens, the market will look around and see which firms are still growing; my guess is, tech and medical firms.

Maybe DVRG will help us get a piece of the action?
At least we meet the criterion of having raised 5 million!
https://www.theguardian.com/technology/2021/jul/20/government-sets-up-375m-fund-for-gamechanging-uk-tech-firms

Positive to see how the SP is steady, despite market panic.
Don't sellers realise that market drop is due to Covid, mainly, and thus positive for MSYS and other medical technology firms? Even the inflation scare (2nd cause of drop) is again not necessarily negative for MSYS because its products/services will help clients deal with real problems (so, not a luxury they can ignore).

Some numbers:
Raised about 5 mln cash (net) plus appx 400k leftover at Y/E2020; so 2021 started with 5.4 mln cash.
Cash burn of 2.7 mln in 2019, 2.1 mln in 2020; I would expect 2.5-3 mln in 2021, dependent on new recruitment, expanded marketing activities Vs savings from synergies of working with DVRG.
Big unknown is - as always - Revenue; H1 sales of 500k, at 50% margin will add appx 250k cash; similar H2 sales (worst case?) mean extra 500k of cash in 2021, leaving Y/E cash at 3-3.5 mln, which sets us nicely for a very crucial 2022.
Note that half the sales of H1 were to DVRG, so no repeat in H2.

The biggest plus I see is the change of the business model to data/services sales; not only this will increase Gross margins up (to 60-70%) but it will make revenues more predictable, stable and scalable as the client will get value for money.

We now need some contracts that produce hard cash for the company, in the next 6 months.

0.10-0.40, depending on sales and cash generated.

On the plus side, there is high daily volume and narrower spreads, thus enabling the increased shareholder base to average (up or down) their holdings, as soon as there are a couple of positive announcements.

On Jan. 19th I attempted to estimate the SP, post-dilution; I had said, 0.12-0.16p.
At the time I was not aware of the Deepverge connection and the committed followers of GB, which led to some speculative froth due to the - undoubted - huge potential of the MSYS technology. I also said, in subsequent posts, that the Co has enough cash for 1 to 1.5 years; therefore, the SP may drift below 0.20 IF no sales - bringing in real cash - are forthcoming.
This has been the issue for the last few years; Cash is raised, diluting holders, based on optimistic forecasts, then sales do not materialise thus needing more share issues.
Now there is the added headwind of technology shares dropping on the premise of inflation/yields going up, therefore THE COMPANY NEEDS TO START MAKING SALES THAT GENERATE CASH; this side of June preferably.
The Co needs

Yes, you are right it seems; this is the type of synergistic potential new investors piled in for but it seems it's already in the price.
A lot of more of these need to follow for the SP to shoot over 0.40p, IMHO.

Let's not get personal, some people try to ramp, some to deramp, it's a fact of life.
Facts:
1. new holders are well in the money - well done;
2. New Mgt has great plans, huge potential;
3. I think current SP fully reflects the Mgt changes and revised prospects;
4. For SP to move upwards, we need some concrete deals;
5. Main risk is market disappointment if the deals are not exciting enough, or don't come soon enough to replenish cash reserves.

There is a lot of faith riding on the new Board and possible rabbits out of the hat, some speculation and lots of hope; but it's still likely that something could happen.
The main issue for me is how much of these expected value-creating moves are already in the SP? At 0.40 the SP might still be susceptible to profit taking, even after a deal or two are announced. That would still be a 300% gain for the new holders.
I think the SP will head over the 0.40 (i.e. 25 million mkt cap) only when B/E is assured i.e. Sales around 8mln annualised.
When this will happen is purely speculative right now.

CORRECTION : Enterprise value is 9 million, not 13 million

I think people are wasting their time debating whether the SP will rise or drop soon (IMHO).
Mkt cap is now (at 0.25) 15 million; cash is 6 million, so sufficient for 12-18 months (depending on what rate the Co decides to expand its marketing and research operations).
This leaves 13 million as the enterprise value i.e. what its future prospects are worth today (which is the matter of debate).
90% of holders are in at 0.1 so if the SP jumps to 0.40, they can have bigger incentive to sell some of their holding;
Old shareholders are sitting on big losses so might be selling on the way up (or averaging down).
So, I see highly likely that the SP will be stuck in a trade range of 0.20-0.40 in the next few weeks; after that, it could break upwards if the optimists are right (i.e. big deals announced), or head downwards (below 0.20) if nothing is announced and the market starts worrying about cash depletion.
So, just sit back and be patient for a few more weeks. IMHO and GLA

EXISTING shareholders will be diluted by 90%.
NEW holders will own 90% of the enlarged capital, at a cost of 0.1p.
Cash on Day1 will be appx 6 million. The co had about 3mln cash burn in 2020, despite furlough etc.
Let's see what the market value will be next week.

My point exactly!
The market will determine, on dilution day, the value. Those buying at 0.30 expect (their right to do so) a value increase of 10-11 million out of thin air. We will know soon. I wrote a few days ago that I 'd expect a post-dilution open SP of 0.12-0.16.

Speculation?
Today MV is appx 1.5 mln (456m @ 0.30)
Next week, they expect the MV to be 18 mln (6bln @ 0.30), with fresh cash of 5.5 mln added; so, based on news already announced and discounted, people expect a value increase of 10 mln, in the space of 24 hours (pre Vs post dilution).