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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