Small Cap Value Report (Mon 25 April 2022) - MCLS, TLY, ZOO

Good morning, it's just Paul here today. Today's report is now finished.
Agenda - 
Paul's Section:
Mccoll's Retail (LON:MCLS) - as we expected, the company finally admits that existing equity is worth little to nothing.
Totally (LON:TLY) - a positive trading update for FY 3/2022, with forecast EPS raised today from 1.8p to 2.0p. We like this share here at the SCVR, it seems to be performing well, growing quite rapidly, and the valuation looks reasonable, assuming nothing goes wrong in future.
Zoo Digital (LON:ZOO) - surprisingly, it's come out with another positive trading update, with FY 3/2022 forecasts raised again. I've generally been sceptical about this share, given poor performance over 22 years, but the bull case is definitely strengthening now that 78% organic growth, and a move into decent profit has been announced. 

Mello Monday - the online investor event is tonight, starting at 17:00. Three interesting companies presenting, so this looks a particularly good one.
Mello Chiswick - the physical event is back! Details here, it's quite soon, on 25-26 May. It's going to be fantastic to see a lot of old friends again, after a 2 or 3 year gap.

Explanatory notes -
A...