Small Cap Value Report (Weds 7 Oct 2020) - SOS, VTU, KMK, COG

7th Oct '20 by Paul Scott

150 comments 12149 reads

Good morning, it's Paul here with the SCVR for Wednesday.

It's quiet again for news today.

Timings - 2pm finish, them I'm off to walk the dogs to the De Beauvoir Arms for a £7 lunch meal deal!
Update at 14:16 - today's report is now finished. I'll take my chromebook with me to the pub, to read/respond to any interesting reader comments. There have been some excellent comments today, thank you! It's always great when readers with detailed knowledge on shares write up your thoughts, as inevitably, covering c.500 companies, I can't dig that far into the detail for everything.

Agenda - just a few small cap results & trading updates today;

Sosandar (LON:SOS) - Half year trading update

Vertu Motors (LON:VTU) - Interims to 31 Aug 2020

Kromek (LON:KMK) - Final Results

Cambridge Cognition Holdings (LON:COG) (I hold) - contract win

This one is too small & illiquid for a separate section. It's picked up another reasonable-sized contract win (£750k). Noteworthy points: the client is doing clinical studies on a part-virtual basis, which COG's service is ideally geared up for (it tests the impact of experimental drugs on cognitive capacity, using tests on iPads). Caregivers can input information using an app, again this is ideal in a covid world. COG is configuring existing modules, rather than designing bespoke software - that should be good for profit margins, as it's recycling existing work. My view - it's starting to look as if COG could be getting there, after years of not quite managing it. Shares are ridiculously illiquid unfortunately.

Sosandar (LON:SOS)

16p (up 7%) - mkt cap £30.8m

(I hold)

Half Year Trading Update

Strong performance through a challenging trading environment

Sosandar, the online women's fashion brand, is pleased to provide the following trading update covering the six-month period ended 30 September 2020.

The bullet points come across well. Overheads have been slashed, which together with furlough assistance, has seen a remarkable fall in cash burn. Net cash has remained level at £4.3m, over the last 3 months. I was sceptical that SOS would make it through the busy autumn/winter season without another fundraising, but it's looking possible now. This is a reminder of how flexible online retailing is - the costs can be cut drastically if…

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MichaelFBS

8th Oct '20

£BOO New one published 6th October but the earlier ShadowFall report was also very odd. Think more recent than May though?

Here here.

Watchdog

Paul,

It seems to me that something like 98% of Stocko subscribers love what you have to say, and probably wouldn't remain Stocko subscribers for very long if it weren't for your excellent and amusing reports. We all know who the trolls are, and, I for one, don't bother reading what they have to say. I just ignore their posts and move on.

If you were a politician you'd probably have at least 50% of people disliking what you have to say! But since you have nigh-on 100% approval from Stocko subscribers you can be assured that you have the support of the overwhelming majority here. I know it's not easy when one is the subject of personal attacks, but I would strongly recommend simply ignoring the comments that are offensive or disagreeable.

Please keep going with your excellent analytical reports and banish any thought of hanging up your boots. 98% of us are in your supporters' club!

mojomogoz

This comment has been moderated

Bluesky Ventura

Antehelion

both, you devalue the quality of your other informative posts by this continued nonsense.

can't you all please give it a break?

Yusuf Samad

Paul

The SCVR prompts a very good discussion on individual and as you said there are many cases where other people have deeper knowledge or unique insight that they share on the Comment pages. It would be a shame to lose this because people are unable to hold a civilised discussion. We should be thinking of making this even better with wider coverage of sectors and participation by more experienced investors, even virtual sessions to get views of three or four investors in a few stocks more in depth, paid for separately.

Ignore cretins and cleanse them out

Mercia16

I support the stand you’re taking Paul. I hope Stockopedia take action against the abusers.

It just to inform others. Read it if you want to. Wierd is the nicness thing I been called here. Sure beats troll.

All the best.

BSV

Thank you Stockopedia for removing the post.

Zoiberg

I quite agree. I was looking at the chat on LSE in a share I'm vaguely interested in and was left wondering where all the adults had gone. Strong moderation is very welcome.

I also get frustrated with the cherry picked numbers and an infinite progression of comparatives ! So much so that I have started a spreadsheet to try to see things clearly.. One basic thing that does stand out though is the pre-covid increase in annual revenues 18/19/20 £1.34m, £4.4m, £9.03m. Long may it continue!

Berksbee

9th Oct '20

Did you take a look at GME? Up 45% yesterday!

Small Cap Value Report (Weds 7 Oct 2020) - SOS, VTU, KMK, COG

Sosandar (LON:SOS)

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Paul Scott

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