Mistakes on the books drag down Minds + Machines

Shares in AIM-listed Minds + Machines (LON:MMX) tumbled 11.86% to 5.20p (as of 15:30 BST) after the firm announced that it would be investigating whether certain past revenues were correctly recognised. Management are focusing on a specific contract from 2019 where revenues may have been booked improperly.

The company stressed that cash had been received and, unless the work connected to the deal were to be cancelled, they expected there to be no impact on the company’s cash position.