Small Cap Value Report (Tue 17 May 2022) - ACSO, MER, TRMR, NANO

Good morning! Paul amp; Jack here.
Agenda - 
Paul's Section:
accesso Technology (LON:ACSO) - a fact amp; figures-free commentary for its AGM today. Although as waffle goes, at least this is positive-sounding waffle!Nanoco (LON:NANO) - a positive-sounding update on the all-important patent infringement case against Samsung. We don't have enough information to value this share at the moment.
Jack's section:
Mears (LON:MER) - trading ahead of expectations thanks to improving margins and a strong cash performance. The valuation is modest and the yield is good, but this is an historically low-margin business and the share price has struggled to move over the years, which limits my interest.
Tremor International (LON:TRMR) - revenue and EBITDA at record levels in a seasonally quiet Q1, although revenue comes in slightly below forecasts. The valuation is attractive here though, given previous and anticipated rates of growth. Tremor has its fair share of amber flags to investigate - it remains a divisive stock - but a relatively cheap one with some interesting growth prospects. Certainly not without risk though and the share price has been volatile, so I would expect more of the same in future.

Explanatory notes -
A quick reminder that...