DeepVerge (DVRG), said it has secured a two-year environmental monitoring and remediation project with environmental technology company, MèreMer for its Blue Carbon Resilience Flagship project which has commenced on the coastlines of Georgia and South Carolina worth £2.4m in aggregate.
Development work for this project has been underway since H1 and payment of microbiome testing and software licenses fees will be in this financial year. Turnover of approximately £0.8 million arising from this project is expected to be fall in the current financial year, and £1.6 million in the financial year commencing 1 January 2023.
Microsaic Systems (MSYS), said it noted the announcement published by DeepVerge regarding its two-year environmental monitoring and remediation project with MèreMer for its Blue Carbon Resilience Flagship project. As part of the Project, DeepVerge will appoint Microsaic as its partner to carry out the related mass spectroscopy-based sample analysis. It is expected that the provision of these services will begin in or after October 2022. The total value of goods and services to be provided by Microsaic will be approximately £200k, the significant majority of which will be recognised in FY23
GSTechnologies (GST), the fintech and information technology solutions company, announced that the company has appointed Pinsent Masons as its legal advisor to assist with the company’s stablecoin application for admission to the FCA Regulatory Sandbox. Founded on the precept that innovation and technology can benefit consumers and the financial services industry, the FCA Regulatory Sandbox provides a production environment for firms to test innovative propositions in the market with real consumers.
ENGAGE XR (EXR), a virtual reality communications technology company, announced its unaudited interim results for the six months ended 30 June 2022. Total revenue for the Group up c.41% to €1.76m (H1 2021: €1.25m). ENGAGE revenue up 62% to €1.46m (H1 2021: €0.90m). The company said there has been increased activity for its current ENGAGE offerings this year. ENGAGE revenue is up almost two-thirds despite the global economic downturn.
Futura Medical (FUM), a pharmaceutical company developing a portfolio of products focused on sexual health and pain, announced its unaudited interim results for the six months ended 30 June 2022. The company said it was delighted with the significant progress made during the first half of the year as it continues to deliver on the company’s strategic objectives.
Union Jack Oil (UJO), the UK focused onshore hydrocarbon company, announce that Gaffney, Cline & Associates Limited has prepared an independent Reserves and Contingent Resources report with an Effective Date of 30 June 2022, on the Wressle Oilfield, PEDL180 and PEDL182, onshore United Kingdom. The company said the GaffneyCline Report reflects a serious technical effort over a prolonged period and its content is highly encouraging for the future of the Wressle development.
Kavango Resources (KAV) announced the renewal of 5 Prospecting Licences in the Kalahari Suture Zone and one PL at the Ditau Project. In addition, the company has also been awarded one new PL in the KSZ.
Gunsynd (GUN) announced that it has conditionally invested approximately a further £100,000 in one of its investee companies, Rincon Resources. This further investment is subject to Rincon shareholder approval at a general meeting of Rincon shareholders to be held during Q4 2022.
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