Good morning from Paul & Graham!

Agenda - 

Paul's Section:

Brief comments (no sections below):

Aeorema Communications (LON:AEO) (82p - £7m) [no section bellow]- Too small for us to cover in detail, but thanks to members Dieselhead2 and tiswas, for flagging up in the comments section below a positive trading update from this live events company, now guiding FY 6/2022 results to be £12.2m revenues, and £830k+ profit before tax. The commentary sounds upbeat too.  I know 4 of the >3% shareholders, all shrewdies! So this looks worth a closer look.

Intelligent Ultrasound (LON:IUG) (13p - £35m) [no section below] - I reviewed this serial loss-making company here in May 2022, and could see some appeal, but overall it looks too high risk. Looks like it could run out of cash in 2023. Dilution has been massive already, with a 10x increase in shares in issue in the last 6 years, as it remained relentlessly loss-making and cash-burning. Today’s interim results is more of the same. Good revenue growth, but some of that is a one-off big order from the NHS. Cash is down to £3.5m. Risk:reward doesn’t look good to me.

Full sections:

Made.Com (LON:MADE) - confirms press speculation that it is looking at a possible equity fundraising. It's been a disaster since floating just over a year ago, collapsing by 95% in price already. I don't see any way out of this, other than a deeply discounted placing, to keep the lights on into 2023. Longer term, unless it can drastically slash costs, it's difficult to see this becoming a viable business, so likely to disappear in 2023 I suspect. Hence it remains uninvestable for me. Pity, as it looked quite an interesting company originally, before growth collapsed.

Angling Direct (LON:ANG) - it's a profit warning, due to a variety of fairly predictable reasons. Although the dry weather here and in Europe has also had an adverse impact on fishing conditions. Forecasts are trimmed, with adj PBT now only £1.5m for FY 1/2023. It's the cash pile that is of most interest, which is almost 3/4 of the whole market cap! That nicely underpins this share, even if trading deteriorates further, which it might.

Immotion (LON:IMMO) - several readers have been discussing this VR entertainment company's trading update in the reader comments, which got me interested. I've…

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