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Stock Market Watch: EUA, ABDX, DEV, RMS & TILS

Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.

By @ZaksTradersCafe

Having been £1bn out on their call regarding the valuation of Eurasia Mining (EUA), it presumably was quite a relief to bears of the stock only to be £500m out on their market cap call of the Russia focused Palladium specialist after the latest announcement of a share sale, and the subsequent rug pull in the stock. Presumably, one day – eventually, those who have been caught short of the likes of Gamestop in the US, will sing victory after hefty losses. Nevertheless, the rise and rise of the retail investor does seem to be unstoppable in the era of the pandemic, with Eurasia Mining one of the stocks that made 2020 a solid year for the “amateur” trader.

The word “clarification” is not usually one which accompanies a triumph in the stock market, something which was illustrated with the latest offering from Abingdon Health (ABDX). Indeed, historically, one can add in the way that when the mainstream media sticks its nose into the small companies space, it is usually not in order to get anyone a Nobel Prize nomination. Here at Abingdon, the testing company followed up on the previous day’s announcement where it said it had completed the delivery of its order of 1 million AbC-19 tests to the DHSC on 8 January 2021. This was as part of a contract that will expire on 14 February 2021. The Company underlined the fact that it expects that any future orders will be received via an application by the Company to future DHSC tender notices.

Shares in Edtech company Dev Clever (DEV) were up a solid 10% in the wake of the substantial increase in the Company’s share price since the start of 2021. Dev Clever said that the longstop date of 30 June 2021 for the fourth investment tranche by Intrinsic Capital has been brought forward to 28 February 2021. This gives Intrinsic the right to subscribe to up to 60,000,000 ordinary shares at a price of 10p per share (versus around 20p now), totalling up to £6million by no later than 28 February 2021. This would be subject to the publication by Dev of a prospectus approved by the FCA no later than that date.

As far as Remote Monitored Systems (RMS) and its anti-viral face mask subsidiary Pharm2farm was concerned, D-Day was announced with regard to the battle over last month’s issue of the Placing Warrants and Broker Warrants in connection with the Company’s £5m fundraise. What will be interesting to see is whether the Axis powers or the Allies will win the vote? Or perhaps just as importantly, what ordinary shareholders should be wishing for? All will be revealed on the 12th February, with a proxy vote.

Tiziana Life Sciences (TILS), announced that it has filed a “universal” shelf registration statement on Form F-3 with the SEC in relation to up to US$250,000,000 in market value of its securities. The filing of statements of this type, said to be a common practice by NASDAQ-listed companies, enables issuers to have more timely and efficient access to the U.S. capital markets.


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