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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Integumen Plc | LSE:SKIN | London | Ordinary Share | GB00BMGWZY29 | ORD 0.1P |
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TIDMDVRG
RNS Number : 7769L
Deepverge PLC
15 September 2021
15(th) September 2021
DeepVerge plc
("DeepVerge", the "Group" or "Company")
INTERIM RESULTS
H1 revenues grew by 231% to GBP3.32m (2020 H1: GBP1m) with expected full year revenues weighted to H2
DeepVerge (AIM: DVRG), the environmental and life science group of companies that develops and applies AI and IoT technology to analytical instruments for the analysis and identification of bacteria, virus and toxins , today announces its unaudited interim results for the six months ended 30 June 2021.
The Company grew H1 2021 revenues by 231% to GBP3.319m (H1 2020: GBP1.004m). Production orders of GBP3.6m ($5m) for Modern Water equipment, announced on 17 February , contributed to an increase in inventories at the end of H1, ready to be shipped in H2 2021.
The rapid expansion across the Group in demand for products and services coupled with additional staff members, meant operational losses widened to GBP2.311m (H1 2020: GBP0.936m). The increased H1 operational costs was offset by an increase in gross profit on higher revenues, delivering a smaller percentage increase in EBITDA loss before exceptional items over the same period of just 26% to GBP0.697m (H1 2020: GBP0.552m).
Gerry Brandon, CEO of DeepVerge plc, commented:
"T he Company continues to expand across all divisions meeting expectations and delivering another triple digit percentage growth rate with record H1 half-year revenues. Despite a substantial increase in investment in highly skilled staff for new products, services and higher administration costs associated with that growth, the Group is in the strongest financial position ever with large orderbooks, a strong balance sheet, and a year-on-year history of revenues heavily weighted in H2 over H1 since 2018 ".
Highlights:
-- H1 2020 revenue GBP3.319m is an increase of 231% from H1 2020 (GBP1.004m); -- EBITDA (loss) before exceptional items GBP0.697m (H1 2020: GBP0.552m);
-- Administration costs increased to GBP4.211m (2019: GBP1.547m) with large increase in staff across all divisions and the incorporation of the Modern Water business (acquired in November 2020);
-- Operating loss of GBP2.311m (H1 2020: GBP0. 936 m) after providing for:
o Depreciation of GBP 0.193m (H1 2020: GBP0.072m);
o Amortisation of GBP1.360m (H1 2020: GBP0.312m), increase due to higher intangibles from acquisition;
o Exceptional costs of GBP0.061m (H1 2020: GBPnil) ;
-- Net Assets at 30 June 2021 GBP25.3m (H1 2020: GBP4.3m) -- GBP10m Placing and Subscription completed in June 2021. -- Finance available to the Group at period end in excess of GBP9m:
o Cash and cash equivalents of GBP7.59m
o Finance facility availability of GBP1.50m
The Company's Interim Report is included at the end of this announcement and is available on the Company's website at www.deepverge.com.
DeepVerge plc Gerard J. Brandon, CEO +44 (0) 7340 055 648 SPARK Advisory Partners Limited (Nominated Adviser) Neil Baldwin/Andrew Emmott +44 (0) 113 370 8974 ---------------------------- --------------------- Turner Pope Investments (TPI) Limited (Broker) Andy Thacker/James Pope +44 (0) 20 3657 0050 ---------------------------- --------------------- Mo PR Advisory Mo Noonan +44 (0) 7876 444 977 ---------------------------- ---------------------
This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation no 596/2014 which is part of English law by virtue of the European (withdrawal) Act 2018, as amended. On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.
CHAIRMAN'S STATEMENT
Introduction
As we emerge from the global pandemic, the world is becoming less fearful and is striving to grapple with the understanding that COVID-19 is here to stay. With the increasing acceptance that it is critical to understand and monitor water, the DeepVerge environmental division is well positioned to play a crucial role in the modernising and automation of how this and future pandemics are to be managed. Even during lockdowns, the Company was expanding and recruiting on three continents with orders increasing across all divisions. Timely investment was made to deal with increased orders of wastewater contamination detection equipment with Modern Water Monitoring resulting in upgrades to our Delaware, US laboratories, York, UK laboratories and in our new Cork, Ireland AI and optofluidic engineering facilities.
Labskin (Innovenn UK Limited)
The Labskin business unit also expanded and remains fundamental to the Company's growth strategy. New service offerings to clients have maintained a high level of interest and the recent launch of Skin Trust Club has added to the excitement in the market as well as enthusiasm internally with the democratisation of consumer skincare home-testing. Whilst we were unable to attend any conferences physically, our scientists have continued to be high profile guest speakers at virtual conferences, providing Labskin business development teams the ability to meet clients virtually and assist them to progress research projects through our digital health platform. Framework agreements already signed continue to contribute to increased sales.
Rinocloud Limited
The teams, led by Rinocloud AI and engineering team members, have completed the phase-III testing of the real-time nano-photonic microchips coated with Affirmers and Aptamers that bind to SARS-CoV-2 virus in a number of wastewater treatment plants in multiple countries, each detecting the virus with the use of AI in sewage in real-time. The same technology is used to capture the virus in the Microtox(R) BT breath test and testing continues in parallel for single pathogens, such as SARS-CoV-2 and with multiplex chipsets for a range of other viral and bacterial infections.
STOER For Men - (STOER Ireland Limited)
STOER For Men skin products e-commerce division continues to be used as a control for client testing within Labskin laboratories and remains at break-even.
Wound pHase (LifeScienceHub Limited)
Labskin continues to work on development of wound care products and extend the services to be provided to woundcare client companies.
Outlook
With H1 2021 growth secured, as in previous years, second half revenues of DeepVerge are expected to be a multiple of H1. Whilst we successfully launched Skin Trust Club, with the capacity to process up to 20,000 skincare home test kits per month and partnered with a Tier One global advertising agency in Q4, our overall revenue guidance remains at GBP10 million as it is too early to give an accurate prediction of its impact on the year end number. We are also ramping up production for Modern Water's Microtox(R) PD wastewater SARS-CoV-2 detection systems, as mentioned in the update presentation of 30 June, and expect to update the market on installations later this year. Results of the Phase III field trials for real-time detection of pathogens in wastewater are recent but now form part of negotiations with China Resources. These continue to make progress and we will update the market in due course.
Ross Andrews
Chairman
15 September 2021
Consolidated Statement of Comprehensive Income
For the 6 months ended 30 June 2021
Unaudited Unaudited 6 months 6 months Audited ended ended Year ended 30 June 30 June 31 December 2021 2020 2020 Notes GBP'000 GBP'000 GBP'000 ---------------------------------- ------ ---------- ---------- ------------- Revenue 3,319 1,004 4,483 Costs of sales (1,581) (393) (2,639) ---------------------------------- ------ ---------- ---------- ------------- Gross profit 1,738 611 1,844 Administrative Costs (4,211) (1,547) (4,561) Other Operating Gain 3 162 - - Operating loss (2,311) (936) (2,717) ---------------------------------- ------ ---------- ---------- ------------- Depreciation 193 72 172 Amortisation 1,360 312 941 Impairment of Investment - - 354 Exceptional Items 3 61 - 391 EBITDA before exceptional items (697) (552) (859) ---------------------------------- ------ ---------- ---------- ------------- Finance costs (307) (19) (183) ---------------------------------- ------ ---------- ---------- ------------- (Loss) before income tax (2,618) (955) (2,900) Taxation 4 178 30 182 ---------------------------------- ------ ---------- ---------- ------------- (Loss) for the period (2,440) (925) (2,718) ---------------------------------- ------ ---------- ---------- ------------- Other comprehensive income Currency translation differences (229) 67 33 ---------------------------------- ------ ---------- ---------- ------------- Total comprehensive loss for the
period (2,669) (858) (2,685) ---------------------------------- ------ ---------- ---------- ------------- Loss per share attributable to the equity holders of the Company during Notes the period Pence Pence Pence Basic and diluted loss per ordinary share 5 1.4p 0.9p 2.1p
Consolidated Statement of Financial Position
As at 30 June 2021
Unaudited Unaudited Audited As at As at As at 30 June 30 June 31 December 2021 2020 2020 Notes GBP'000 GBP'000 GBP'000 ------------------------------------ ------ ---------- ---------- ------------- Assets Non-current assets Intangible assets 18,959 3,513 18,241 Property, plant and equipment 988 483 874 Right of use assets 1,705 450 569 Other Investments 354 708 354 ------------------------------------ ------ ---------- ---------- ------------- Total non-current assets 22,006 5,154 20,038 ------------------------------------ ------ ---------- ---------- ------------- Current assets Inventories 1,953 79 1,347 Trade and other receivables 2,219 1,079 1,448 Cash and cash equivalents 7,589 255 1,441 ------------------------------------ ------ ---------- ---------- ------------- Total current assets 11,761 1,413 4,236 ------------------------------------ ------ ---------- ---------- ------------- Total assets 33,767 6,567 24,274 ------------------------------------ ------ ---------- ---------- ------------- Equity attributable to owners Share capital 7 2,429 2,322 2,380 Share premium account 36,982 11,838 25,069 Retained loss (20,609) (16,325) (18,964) Foreign currency reserve (455) (192) (226) Reverse acquisition reserve (2,843) (2,843) (2,843) Capital redemption reserve 9,519 9,519 9,519 Share based equity reserve 277 6 197 ------------------------------------ ------ ---------- ---------- ------------- Sub total 25,300 4,325 15,132 Non-controlling interests - - 789 Total equity 25,300 4,325 15,921 ------------------------------------ ------ ---------- ---------- ------------- Liabilities Non-current liabilities Deferred tax liabilities 2,870 470 2,780 Deferred revenue/government grants 21 6 24 Lease Liabilities 1,334 355 358 Borrowings 83 121 583 Total non-current liabilities 4,308 952 3,745 ------------------------------------ ------ ---------- ---------- ------------- Current liabilities Trade and other payables 2,232 970 2,667 Deferred tax liabilities 356 61 328 Lease liabilities 446 105 264 Borrowings 1,125 154 1,349 Total current liabilities 4,159 1,290 4,608 ------------------------------------ ------ ---------- ---------- ------------- Total liabilities 8,467 2,242 8,353 ------------------------------------ ------ ---------- ---------- ------------- Total equity and liabilities 33,767 6,567 24,274 ------------------------------------ ------ ---------- ---------- -------------
Consolidated Statement of Cash Flows
For the 6 months ended 30 June 2021
Unaudited Unaudited Audited 6 months ended 6 months ended Year ended 30 June 30 June 31 December 2021 2020 2020 Notes GBP'000 GBP'000 GBP'000 Cash Flow from operating activities --------------------------------------------------------- -------- ---------------- ---------------- ------------- Cash used in operations 8 (2,829) (772) (2,098) Taxation - - 76 Interest paid (307) (12) (183) Net cash used in operating activities (3,136) (784) (2,205) --------------------------------------------------------- -------- ---------------- ---------------- ------------- Cash flow from investing activities Acquisition of subsidiary net of cash balance - - 739 Payments to acquire intangibles (372) (72) (488) Purchase of property, plant and equipment (460) (84) (296) Government Grant - 7 - Net cash used in investing activities (832) (149) (45) --------------------------------------------------------- -------- ---------------- ---------------- ------------- Cash flow from financing activities Proceeds from issuance of ordinary shares 7 11,315 95 1,328 Proceeds from new loans - - 1,500 Capital element of finance lease (168) (36) (125) Repayments of borrowings (1,017) (64) (205) Net cash generated / (used) by financing activities 10,130 (5) 2,498 --------------------------------------------------------- -------- ---------------- ---------------- ------------- Net increase / (decrease) in cash and cash equivalents 6,162 (938) 248 Cash and cash equivalents at beginning of period 1,441 1,193 1,193 Effects of exchange rate changes on cash and cash equivalents (14) - - Cash and cash equivalents at end of period 7,589 255 1,441 --------------------------------------------------------- -------- ---------------- ---------------- -------------
Consolidated Statement of Changes in Shareholders' Equity
Share Non Group Foreign Reverse Capital based controlling Share Share Retained currency acquisition redemption equity interests capital premium earnings reserve reserve reserve reserve Total GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- At 1 January 2020 2,322 11,743 (15,400) (259) (2,843) 9,519 6 - 5,088 ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- Changes in equity for the 6 months ended 30 June 2020 Loss for the period - - (925) - - - - - (925) Currency translation differences - - - 67 - - - - 67 ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- Total comprehensive loss for the period - - (925) 67 - - - - (858)
----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- Transactions with the owners ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- Shares issued during the period - 95 - - - - - - 95 Costs of Share Issue - - - - - - - - - Share option-based charge - - - - - - - - - Reserve transfer - - - - - - - - - ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- Total contributions by and distributions to owners - 95 - - - - - - 95 ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- At 30 June 2020 2,322 11,838 (16,325) (192) (2,843) 9,519 6 - 4,325 ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- Changes in equity for the 6 months ended 31 December 2020 Loss for the period - - (1,793) - - - - - (1,793) Non-controlling interests - - (846) - - - - 789 (57) Currency translation Differences - - - (34) - - - - (34) Total comprehensive loss for the period - - (2,639) (34) - - - 789 (1,884) Transactions with the owners Shares issued during the period 58 13,231 - - - - - - 13,289 Costs of Share Issue - - - - - - - - - Share option-based charge - - - - - - 191 - 191 Reserve transfer - - - - - - - - - ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- Total contributions by and distributions to owners 58 13,231 - - - - 191 - 13,480 ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- At 31 December 2020 2,380 25,069 (18,964) (226) (2,843) 9,519 197 789 15,921 Changes in equity for the 6 months ended 30 June 2021 Loss for the period - - (2,440) - - - - - (2,440) Currency translation Differences - - - (229) - - - - (229) Total comprehensive loss for the period - - (2,440) (229) - - - - (2,669) ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- Transactions with the owners ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- Shares issued during the period 49 12,480 - - - - - - 12,529 Costs of Share Issue - (567) - - - - - - (567) Share option-based charge - - - - - - 86 86 Non-controlling interests* - - 789 - - - - (789) - Share based reserve transfer - - 6 - - - (6) - - ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- Total contributions by and distributions to owners 49 11,913 795 - - - 80 (789) 12,048 ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- At 30 June 2021 2,429 36,982 (20,609) (455) (2,843) 9,519 277 - 25,300 ----------------- --------- --------- ---------- --------- ------------ ------------ -------- ------------ -------- * On 15 January 2021 the Company acquired the remaining Modern Water plc shares.
Notes to the Financial Statements
For the 6 months ended 30 June 2021
1. General information
DeepVerge plc is a company incorporated in England and Wales. The Company is a public limited company admitted to trading on the AIM market of the London Stock Exchange on 5 April 2017. The address of the registered office is York Biotech Campus, Sand Hutton, York, North Yorkshire, YO41 1LZ.
The principal activity of the Group is that of developing technologies in the skin industry. The Group has a presence in the UK, US China and Ireland.
The financial statements are presented in pounds sterling, the currency of the primary economic environment in which the Group's trading companies operate.
The registered number of the Company is 10205396.
2. Basis of preparation
The financial information in these interim results is that of the holding company and all of its subsidiaries. It has been prepared in accordance with the recognition and measurement requirements of UK adopted International Financial Reporting Standards (IFRSs). The accounting policies applied by the Group in this financial information are the same as those applied by the Group in its financial statements for the year ended 31 December 2020 and which will form the basis of the 2021 financial statements except for a number of new and amended standards which have become effective since the beginning of the previous financial year. These new and amended standards are not expected to materially affect the Group.
The financial information presented herein does not constitute full statutory accounts under Section 434 of the Companies Act 2006 and was not subject to a formal review by the auditors. The financial information in respect of the year ended 31 December 2020 has been extracted from the statutory accounts which have been delivered to the Registrar of Companies. The Group's Independent Auditor's report on those accounts was unqualified and did not contain a statement under section 498(2) or 498(3) of the Companies Act 2006. The financial information for the half years ended 30 June 2021 and 30 June 2020 is unaudited and the twelve months to 31 December 2020 is audited.
3. Exceptional items and other operating gain
Exceptional Items
Included within administrative expenses are exceptional items as shown below:
Unaudited Unaudited 6 months 6 months Audited ended ended Year ended 30 June 30 June 31 December 2021 2020 2020 --------------------------------------- ---------- ---------- ------------- Exceptional items include: Transaction costs relating to raising funds and business acquisitions and disposals 61 - 391 Total exceptional items 61 - 391 --------------------------------------- ---------- ---------- -------------
Other Operating Gain
Loan Forgiveness of 2020 Payment Protection 162 Loan (Covid) for US subsidiary company - - Modern Water Inc. Other Operating Gain 162 - - -------------------------------------------- ---- ---- ----
4. Taxation
Unaudited Unaudited 6 months Audited 6 months ended ended Year ended 30 June 30 June 31 December 2021 2020 2020 GBP'000 GBP'000 GBP'000 ------------------------------------- ---------------- ---------- ------------- Research and development tax credit - - 77 Deferred tax credit 178 30 105 ------------------------------------- ---------------- ---------- ------------- 178 30 182 ------------------------------------- ---------------- ---------- -------------
5. Loss per share
At a General Meeting of the Company on 15 September 2020 a share consolidation was approved. With effect from 16 September 2020 all ordinary shares of 0.01 pence each were consolidated into new ordinary shares of 0.1 pence each, on a 10 for 1 basis.
The following table illustrates the basic loss for both 2021 and 2020 when converting a 10:1 consolidation for all 0.01 pence ordinary shares in issue pre-15 September 2020 to 0.1 pence new ordinary shares.
(a) Basic
Basic loss per share is calculated by dividing the loss attributable to equity holders of the Company by the weighted average number of ordinary shares in issue during the period.
Unaudited Unaudited 6 months 6 months Audited ended ended Year ended 30 June 30 June 31 December 2021 2020 2020 Loss attributable to equity shareholders GBP2,440,000 GBP925,000 GBP2,718,000 Weighted average number of 0.1p Ordinary Shares in issue 178,305,066 107,339,112 128,715,344 Basic loss per ordinary share 1.4p 0.9p 2.1p
(b) Diluted
Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. The options and warrants are anti-dilutive in view of the losses in the year. Details of warrants outstanding are given in note 7.
6. Dividends
There were no dividends paid or proposed by the Company.
7. Share capital
Unaudited Unaudited 6 months Audited 6 months ended ended Year ended 30 June 30 June 31 December 2021 2020 2020 GBP'000 GBP'000 GBP'000 ------------------------------- ---------------- ---------- ------------- Ordinary shares of 0.1p each 215 108 166 Deferred shares of 0.99p each 2,214 2,214 2,214 Total 2,429 2,322 2,380 ------------------------------- ---------------- ---------- -------------
As at 30 June 2021, the Company had an issued share capital of 215,138,276 ordinary shares of 0.1p each and 223,685,232 deferred shares of 0.99p each.
Ordinary shares issued during the period
Compulsory Acquisition Modern Water plc ordinary shares under sections 974-991 of the Companies Act 2006
Having obtained acceptances of 93.47% of Modern Water plc shareholders to the offer to acquire the company in 2020, the Company subsequently commenced compulsory acquisition proceedings under sections 974-991 of the Companies Act 2006.
Price at Date Date Type No of shares of Listing Consideration Acquisition 15 January 2021 Shares 3,636,915 33p GBP1,200,182
On 15 January 2021 the Company allotted 3,636,915 ordinary 0.1p shares in respect of the compulsory acquisition of all the remaining Modern Water plc shares. The GBP1.2m consideration takes the total cost of the 100% acquisition of shares to GBP13.3m.
Shares issued for cash consideration in 2021
Date Transaction No of shares Exercise Consideration price ------------- ------------------ ------------- --------- --------------- 18 January Share Options 25,860 0.01p GBP 26 25 January Placing Warrants 535,714 20p GBP 107,143 1 February Placing Warrants 178,570 20p GBP 35,714 26 February Placing Warrants 1,230,738 20p GBP 246,148 26 February Broker Warrants 557,999 15p GBP 83,700 26 February Broker Warrants 814,285 14p GBP 114,000 5 March Placing Warrants 17,857 20p GBP 3,571 16 March Placing Warrants 188,071 20p GBP 37,614 23 March Placing Warrants 35,714 20p GBP 7,143 24 March Placing Warrants 78,570 20p GBP 15,714 7 April Share Options 18,102 0.01p GBP 18 13 April Placing Warrants 10,714 20p GBP 2,143 21 April Placing Warrants 221,285 20p GBP 44,257 21 April Broker Warrants 7,050,000 5p GBP 352,500 29 April Placing Warrants 942,857 20p GBP 188,571 30 April Placing Warrants 384,425 20p GBP 76,885 11 June Share Placing 21,086,888 30p GBP 6,326,066 25 June Share Placing 12,246,446 30p GBP 3,673,934 ------------- ------------------ ------------- --------- --------------- Sub Total 45,624,095 GBP 11,315,147 --------------------------------- ------------- --------- ---------------
Warrants
During the period a total of 12,696,785 warrants of 0.1p ordinary shares, with exercise prices between 5p and 20p per share, were either exercised or expired, with total warrants of 2,343,836 0.1 p shares outstanding at 30 June 2021.
Warrant holder Date granted Exercise Expiry date Ordinary Exercised/ Outstanding price shares Expired at 30 of 0.1p in period June each Turner Pope Investments 5 April (TPI) Ltd 2017 62.5p 5 April 2022 180,000 - 180,000 5 January 5 January Placing subscribers 2018 15p 2023 173,334 - 173,334 5 January 5 January Hybridan LLP 2018 15p 2023 100,000 - 100,000 Turner Pope Investments 5 January 5 January (TPI) Ltd 2018 15p 2023 30,000 30,000 - Placing subscribers 2 May 2019 20p 2 May 2021 4,274,501 4,274,501 - Turner Pope Investments (TPI) Ltd 2 May 2019 14p 2 May 2022 814,285 814,285 - Turner Pope Investments 16 December 16 December (TPI) Ltd 2019 15p 2022 527,999 527,999 - 15 September 15 September YA II PN, Ltd 2020 25.7868p 2024 945,251 - 945,251 Riverfort Global Opportunities PCC 15 September 15 September Ltd 2020 25.7868p 2024 945,251 - 945,251 Turner Pope Investments 9 November 16 February (TPI) Ltd 2020 5p 2023 7,050,000 7,050,000 - ----------- ----------- ------------ 15,040,621 12,696,785 2,343,836
8. Cash used in operations
Unaudited Unaudited 6 months 6 months Audited ended ended Year ended 30 June 30 June 31 December 2021 2020 2020 GBP'000 GBP'000 GBP'000 ----------------------------------- ---------- ---------- ------------- Loss for the year from continuing activities (2,440) (925) (2,718) Continuing operations Adjustments for: - Depreciation & Amortisation 1,553 384 1,113 - Impairment of Investments - - 354 - Net finance costs 307 13 303 - Taxation (178) (30) (182) - Foreign currency (229) 33 36 - Share option-based charge 86 - 191 Changes in working capital - Inventories (652) 6 344 - Trade and other receivables (803) (530) (513) - Trade and other payables (473) 277 (1,026) Net cash used in operations (2,829) (772) (2,098) ----------------------------------- ---------- ---------- -------------
9. Post balance sheet events
No significant events since the period end.
10. Availability of announcement
A copy of this announcement is available from the Company's website, being www.deepverge.com.
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