Hybridan Small Cap Feast

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Hybridan Small Cap Feast

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ADM Energy* 0.675p  £1.7m (ADME.L)

The natural resources investing company announces that it has raised a total of £725k through a subscription and a loan from Tennessee Black Gold LLC. ADM raised £500k net at a price of 1.2p per share. Of the subscription proceeds, £100k has been remitted with the balance of £400k due by 28 October 2022. ADM also entered into an agreement with the subscriber to borrow, in aggregate US$250k at 6% per annum, advanced in 5 instalments of US$50k each, with the first instalment due on 28 October 2022 and the last one on 28 February 2023. The loan will mature on 28 October 2024 and on that date the full principal amount along with accrued and unpaid interest will be due in cash. The Company also announces that Osa Okhomina will step down from the Board and his position as Chief Executive Officer upon receipt of the total Subscription amount expected to be by 28 October 2022.

Audioboom 475p  £77.4m (BOOM.L)

The global podcast company provides a trading update for the quarter ended 30 September 2022. Total revenue for the 9 months to 30 September of US$57.1m, up 44% on the same period last year ($39.7m). Quarterly revenue was $16.2m (Q3 21:$16.9m) as economic headwinds impacted demand – however, August and September have recovered, both up on the July low-point and further improvements forecast throughout Q4. Total adjusted EBITDAprofit for the 9 months to 30 September was $2.7m, up 125% year-on-year. Quarterly adjusted EBITDAprofit was $0.6m (Q3 21: $1m). Audioboom has contracted revenue in excess of $73m for 2022 through advance advertising booking.


The provider of delivery solutions, including parcel freight, secure courier, and logistics services, announces that its DX Express division has launched a strategic initiative with Silva Brothers Limited (SBL) that will initiate the use of electric vehicles for its London parcel deliveries. The London initiative is the latest step in the Group’s plans to increase the use of electric vehicles within its overall fleet. It follows DX’s recent announcement that it is acquiring a fleet of electric vehicles for its DX Freight division to use in its delivery and logistics partnership with IKEA.

Insig AI 27.5p  £29.1m (INSG.L)

The data science and machine learning group announces that it has signed a partnership agreement with BRAIN, a research company specialising in Natural Language Processing applications and algorithms for investment strategies. Insig AI will provide its European corporate filings dataset to BRAIN, to allow them to build a unique derived group of data points to bring investable actions to hedge fund clients, focused on the European equities market.

IQE  38.8p  £312.8m (IQE.L)

The supplier of compound semiconductor wafer products and advanced material solutions, announces the signing of a multi-year strategic agreement with a global consumer electronics leader based in Asia. The agreement is focused on the high-volume production of VCSELs for advanced 3D sensing applications. The parties are also engaged in joint research and development for next generation sensing technologies and use cases.

LungLife AI 105p  £26.8m (LLAI.L)

The developer of clinical diagnostic solutions for lung cancer, announces that based on the strength of its technology it will be one of two industry partners to participate in the Boston University (BU) – University of California Los Angeles (UCLA) Lung Cancer Biomarker Development Laboratory of the US National Cancer Institute’s Early Detection Research Network (EDRN). LungLife’s clinical laboratory will operate as a Biomarker Reference Laboratory, processing blood samples from the participating academic centres at UCLA and BU where the LungLB® test will be combined with imaging to assist in early detection research and to validate combined test performance in patients with indeterminate lung nodules.

Mosman Oil & Gas 0.075p  £3.9m (MSMN.L)

The oil exploration, development and production company, announces its production summary for the 3 months ended 30 September 2022 (Q1). Gross Production showed steady increases across the projects, with the exception of the Falcon well which is currently shut-in pending a review. Net Production attributable to Mosman for Q1 was 6,958 boe (3 months to 30 June 2022 of 8,815 boe). The results reflect continued strong production at Stanley and Winters. Notably, the loss of gas production at Falcon has been mitigated by higher value oil production at Stanley. The average sale prices during the period was US$91.35 per barrel for oil and US$6.99 (July and August only) per MMBtu for gas.

MTI Wireless 45p  £39.8m (MWE.L)

The technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announces that its Antenna division has received orders worth approximately US$0.65m for its 5G backhaul antenna solution, to be supplied this quarter. The orders are from an existing customer in India. MTI has been waiting for the 5G backhaul market to accelerate its deployment and are now see more opportunities in the market. These orders represent its first significant orders for immediate deployment.

Trellus Health 14p  £22.6m (TRLS.L)

The resilience based digital health company focused on the intersection of chronic illness and mental health, announces that it has signed 2 contracts with the Mount Sinai Health System to provide access to the Trellus Resilience Training and Self-Management Program for Inflammatory Bowel Disease (the Trellus IBD program). The first contract will see Mount Sinai make the Trellus IBD program available and paid for as a wellness benefit to all Mount Sinai Health System employees. The second contract is to make the Trellus IBD program available as a wellness benefit to eligible patients who are members of a large NY state labour union, which provides health services and benefits to its members through Mount Sinai.

Wildcat Petroleum 1.5p  £36m (WCAT.L)

The company targeting investment opportunities in business and assets within the upstream sector of the petroleum industry, announces that it has signed an MOU to work in collaboration with the Sudanese Oil Ministry to advance the development and commercial exploitation of hydrocarbon assets in Sudan. The MOU is for an initial period to 31 December 2022 and can be extended upon both parties’ approval. The aim is to increase overall oil production by 100k barrels per day by the development of Blocks 1, 3, 4 & 5. All four Blocks are currently producing and together contain over 1bln barrels of oil. Both the Sudanese Petroleum Corporation and Wildcat recognise this will require significant investment in Sudan. The Company will update the market in due course as and when any specific funding arrangements are reached.

What’s cooking in the IPO kitchen?

World Chess plc, a leading chess organisation, intends to join the Main Market. World Chess Plc is the holding company of a group which aims to promote the mass market appeal of chess globally through the commercial offering of chess related activities. Euro 8m to be raised. Expected November 2022.

OTAQ plc, (OTAQ.L) the technology company with three divisions: Aquaculture, Geotracking Devices and Offshore intends to delist from the Main Market and join the AQSE Growth Market. OTAQ is developing adjacent technologies to take advantage of a number of growth initiatives that will broaden the Group’s current product portfolio in the global marine aquaculture sector and facilitate entry and growth into the geotracking devices sector. Expected 9 November 2022. Raising a total of £3.6m, £2m raised.

Cooks Coffee Company ltd, an international coffee focused café chain which currently owns the Esquires Coffee and Triple Two Coffee Brands, intends to join the AQSE Growth Market. The Company is the 4th largest coffee focused café chain in the UK. Cooks Coffee is currently listed on the New Zealand Stock Exchange. Raising £1.5m through a rights issue in New Zealand and a private placement. Expected 2 November 2022.

Guanajuato Silver Company ltd, a fast growing silver producer in Mexico currently listed on the TSX Venture Exchange, intends to join the AQSE Growth Market. The Company currently owns five precious metals mines and three production facilities. GSilver is primarily focused on reactivating past producing silver and gold mines in the state of Guanajuato. Expected 25 October 2022.

Sondrel Holdings plc, a UK founded and headquartered fabless semiconductor business providing turnkey services in the design and delivery of complex, high end ‘application specific integrated circuits’ (ASICs) and ‘system on chips’ (SoCs) for leading global technology brand, intends to join AIM. Anticipated Mkt Cap £48.1m. £20m to be raised. Expected 31 October 2022.

TECC Capital plc, to be renamed EDX Medical Group, intends to join the AQSE Growth Market. EDX operates a molecular biology and diagnostics laboratory in Cambridge, UK, from which it performs research & development, provides Polymerase Chain Reaction (PCR) testing and genomic sequencing services, undertakes quality assurance and has established expertise in the design, development, validation and sourcing of Lateral Flow Tests on a commercial scale. Due 31 October 2022.

Streaks Gaming plc, a UK-based provider of conversational gaming products intends to join the Standard Segment of the Main Market this autumn. The flotation is expected to value Streaks at approximately £10.2m (pre-money) and will make it the first LSE-listed “pure-play” conversational gaming company. Raising between £5-10m. Delayed but due in October.

Welkin China Private Equity, newly established closed-ended investment company dedicated to investing in unquoted Chinese companies, intends to join the Premium Segment of the Main Market. The Company is targeting a raise of up to US$300m. Due 3 November 2022.

Georgina Energy, focusing on the exploration, development and monetisation of helium, hydrogen and hydrocarbon interests located in Australia intends to join AIM. Georgina Energy has two principal onshore interests: (1) Mount Winter Prospect in the Amadeus Basin in Northern Australia, which the Company has a right to earn an initial 75% interest; (2) Hussar Prospect, 100% owned by the Company, located in the Officer Basin in Western Australia. Expected late October.

*A corporate client of Hybridan LLP

** Content not provided by Hybridan LLP

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