Good morning, it's Paul here on my own today. Fridays are usually quiet, so Graham's here Mon-Thu, just so you know what to expect.  Today's report is now finished.

Agenda - hopefully not too many bombshells today, as I'm hoping to catch up on a couple of things from earlier this week.

Deepverge (LON:DVRG) - readers were yesterday discussing apparently encouraging FY 12/2021 results. I had a dig under the bonnet last night, and discovered a Citroen 2CV with worn big ends, needing an overhaul, not a Rolls-Royce! I would steer well clear of this. In particular the £10m placing monies have gone in less than a year, and it's now using desperate-looking short term loans.  

Trackwise Designs (LON:TWD) - readers asked me to look at a trading update today (revenues down, but profits in line with expectations). I was expecting to conclude it's another jam tomorrow share, but from an initial review have come away intrigued. This looks worthy of further research, and do please post a comment if you know the company well. Speculative, but looks potentially very interesting I think.

RPS (LON:RPS) - a positive update, and broker raises FY 12/2022 forecasts, for this international consulting group. Valuation maybe about right? I wouldn't be inclined to chase this one, given the macro situation. Although RPS does seem to operate in sectors that could be resilient. Gross debt is a bit higher than I would like, and there's negligible NTAV backing.

Explanatory notes -

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