RE: Newsletter - new tech.15 Feb 2023 19:01
Half year report '22
Unaudited revenues of £735k: an increase of 47% on H1 2021 (£499k)
· Increase in gross profit by 164% to £433k (H1 2021: £164k)
· Adjusted EBITDA loss of £661k an improvement of 21% on H1 2021 (£839k loss)
· Total comprehensive loss reduced by 65% to £705k (H1 2021: £2.01m loss)
· Cash at 30 June 2022 was £2.56m (H1 2021: £4.48m)
· International deployment of Microsaic's products and services in applications such as water monitoring of chemicals and pathogens continues to expand. Units have been installed in Ireland and the UK and are being shipped to Japan and the US for installation during H2 2022
· Laboratory services that have been completed are for toxic shock, insulin and a range of metabolites carried out under contract by Microsaic as mass spectrometry services. Other laboratory service work scheduled for H2 2022 include ceramides and pesticides
· Mass spectrometry units have been installed and demonstrated in Modern Water mobile monitoring vehicles
** still awaiting
Deepverge contract- As part of the Project, DeepVerge will appoint Microsaic as its partner to carry out the related mass spectroscopy-based sample analysis. It is expected that the provision of these services will begin in or after October 2022.
Whilst subject to contract, it is currently expected that the total value of goods and services to be provided by Microsaic will be approximately £200k, the significant majority of which will be recognised in FY23 (the next financial year).
We have the partnership with kingfield electronics
22nd August '22 so still waiting to hear the revenue from them
Revenue from Units have been installed in Ireland and the UK and are being shipped to Japan and the US for installation during H2 2022 and oher laboratory service work scheduled in '22 after the half year report
*losses
Loss from helium rising shares decrease from last year, which they continue to decrease into '23
I guess costs from exhibitions and staff and the new development of the new MicrylaMiD technology
Anything else I may have missed?