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Weekly Update: December 10th, 2020
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Breaking News
New 15c211 SEC rules will come into effect mid 2021 that will change reporting requirements for OTC market listed companies as well as the process for obtaining a new ticker symbol.
Here is a review on the new rule. A discussion on 15c211 starts at about 9 minutes in
On you tube https://youtu.be/TVDcTaUK9jo
What is clear is that unfortunately it will be at least mid next year before new rules are in effect. Until then 211’s have to happen the old way.
This is a link to the actual rule.
A nice legal review of same.
OTC Markets tells me that the SEC /FINRA are working with their team to determine and approve processes around this rule. OTC will keep the markets informed around process and procedures as we make our way with SEC and FINRA, and will be providing educational sessions and webinar to the community soon..
First most importantly companies will have to get current on PINK and subscribe to OTC Markets Disclosure and News Service to have their disclosure recognized if they are not SEC reporting; Otherwise they will go dark into the expert market.
The SEC press releases states : https://www.sec.gov/news/press-release/2020-212
“What’s Next?
The Rule will become effective 60 days following publication of the amendments in the Federal Register. The Rule will have a general compliance date that is nine months after the effective date as well as a compliance date that is two years after the effective date regarding provisions to require an issuer’s financial information for the last two fiscal years to be current and publicly available.”
OTCQ and OTCQX have increased the annual fees: Beginning 1 January 2021: QB will be $14k per annum + $5k initial application fee and QX will be $23k plus $5k initial application fee.
Stay Tuned…….
12-9-20 Greenridge Global Securities Issues Update
Apollo Future Mobility Group Limited [HK: 0864]
HK$491 Million Raised After Strong CIIE Showing
HK$491 Million Financing. On Monday, the Company announced it sold 1,066,596,000 new shares to strategic investors from Europe and the Middle East at a price of HK$0.46 per share. The deal was priced at a discount to market thanks to the recent run up in the stock price after CIIE. This deal has presumably been in the works for some time, in which case the deal price was around market pricing pre-CIIE. AMFG anticipates receiving HK$491,000,000 in gross proceeds from the financing (HK$486,000,000 net), which it will use for acquisitions, investments, R&D and general uses. We expect a portion of this cash will be used to complete the Ideenion acquisition.
Success At CIIE. AMFG was an exhibitor, along with other leading global automotive brands, at the China International Import Expo that ran from November 5-10 in Shanghai. The Company showcased a variety of its mobility solutions, including the Apollo IE, its prototype Urban Delivery Vehicle (UDV), GLM’s Electric Mobility Scooter, its ROHM co-developed 800V SiC Dual Inverter, and its self-developed Autonomous Development Chassis. The Expo marked the debut for the UDV, which was designed for last mile transport and can be shipped to customers in knocked-down form to be assembled in local micro factories. Production of the UDV is expected in 2022. GLM’s Scooter is designed to transition mobile seniors from automobiles to a more manageable mode of transport, with the aim of reaching commercialization by the end of 2022. The Autonomous Development Chassis was designed to be a customizable platform for autonomous driving software, and includes electric power steering, an e-braking system, a high powered EV motor, and four LIDAR sensors for mapping needs. The new inverter technology was discussed in a previous report. The Company drew a great deal of attention at the event, both from prospective customers and partners, as well as local media, which should further help AMFG build brand awareness among potential customers, including local auto brands needing technology solutions.
Model Update. We included the new shares and cash from the acquisition, and pushed the completion of the Ideenion acquisition into early 2021. We also made additional adjustments due to the impact of COVID across Asia and Europe.
Maintaining Rating & Raising Target. AMFG continues to make solid progress on multiple fronts as it works to be at the center of not only the shift to electric, but also the shift to outsourced automotive technology and vehicle development. We believe the fundraising provides the capital to move a number of pieces forward and expect to see additional developments in the near future as business returns to normal globally. With continued positive news, we are reiterating our Buy rating on Apollo Future Mobility Group and raising our target price from HK$0.75 to HK$1.50. Our target price is based on a P/E multiple of 25 times our fiscal 2022 Diluted EPS estimate of HK$7.06 cents, discounted one year at 20%. We believe the increased P/E multiple is justified given the increased multiples and valuations received by other companies in the EV space, despite those being singularly focused on a product area rather than diversified as AMFG is.
12-9-20 Can B Corp. (OTCQB: CANB)
Can B Corp to Present at The 13th Annual LD Micro Main Event Conference.
HICKSVILLE, NY, Dec. 09, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a diversified health and wellness company, announced today that it will be presenting at the 13th annual LD Micro Main Event investor conference on Tuesday, December 15 at 9 am EST. Chief Executive Officer Marco Alfonsi and Chief Financial Officer Stan Teeple will be presenting to a live, virtual audience.
Register here: ve.mysequire.com/
The Main Event will feature a new and unique format, with companies presenting for 10 minutes, followed by 10 minutes of Q&A by a panel of investors and analysts.
11-18-20 Can B Corp. (OTCQB: CANB)
CanB Corp Announces Third Quarter 2020 Results
Efficiencies and Lower Expenses Lead to a Significant Reduction in Operating Loss
HICKSVILLE, NY, Nov. 18, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a diversified health and wellness company, announced today operating and financial results for the third quarter ended September 30, 2020.
Management Commentary:
Marco Alfonsi, Can B’s Chief Executive Officer, commented, “Our focused efforts on reducing costs has led to a significant reduction in operating losses. Additionally, when backing out non-cash expenses, our adjusted operating loss decreased by 37% to just over $200,000 for the quarter, largely attributable to the lay-offs due to COVID-19 circumstances.
9-11-20 Perpetual Industries, Inc. (OTC PINK PRPI)
Perpetual Industries Inc. Launches Reg D-506(C) Common Stock Offering
AUBURN, IN / ACCESSWIRE / September 25, 2020 / Perpetual Industries Inc. (OTC PINK:PRPI) (the “Perpetual” or the “Company”) is pleased to announce today that it will offer up to 10,000,000 shares of its common stock at $0.30 per share for an aggregate offering amount of $3,000,000. The shares will be offered to accredited investors only pursuant to Regulation D, Rule 506(c) under the Securities Act of 1933, as amended (the “Securities Act”). Although general solicitation is permitted under Rule 506(c) offerings, purchasers must be accredited investors and meet certain SEC verification requirements for validation of their “accredited investor” status.
Perpetual intends to use the proceeds from the stock offering principally for general working capital purposes and for funding the operational plan for project development purposes, including but not limited to, general and administrative expenses, intellectual property acquisition costs, legal and accounting expenses, research & development expenses, and marketing expenses.
11-10-2020 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)
Antibe Therapeutics Receives Final Approval to Graduate to the Toronto Stock Exchange
Antibe Therapeutics Inc. (TSXV: ATE, OTCQB: ATBPF), a clinical stage company leveraging its unique hydrogen sulfide platform to develop safer medicines for pain and inflammation, today announced that it has received final approval from the Toronto Stock Exchange (“TSX”) to list its common shares on the TSX.
“We are excited to graduate to the TSX, as it represents a further step in reaching the broader investment community while increasing liquidity for our shareholders,” remarked Dan Legault, Antibe’s CEO. “We look forward to continued progress as we advance our partnering discussions and prepare for Phase III trials of otenaproxesul, our lead drug.”
Antibe’s shares will commence trading on the TSX under its existing ticker symbol “ATE” at the market open on Thursday, November 12, 2020. Shareholders will not be required to take any action in connection with the graduation and listing on the TSX.
11-2-20 Greenridge Global Securities Issues Update
Guangdong Land Holdings [HK: 124]
GDL Agrees To Acquire Two Greater Bay Area Projects
Two New Projects Acquired. GDL agreed to purchase Jiangmen Yuehai and Huizhou Yuehai from Yuegang Investment, a subsidiary of Guangdong Holdings, the ultimate controlling shareholder of GDL.
Jiangmen Yuehai owns the Jiangmen Ganhua Project, which is located less than four kilometers from the central commercial district of Beixin Sub-district and connected to mass transit, and roughly 10km from GDL’s other Jiangmen project. The Project has a site area of 192,652.34m2, split between two adjacent parcels. Parcel A has a site area of 174,537.52m2 and will have 274,371m2 of residential, 119,194.52m2 of commercial and 3,035m2 for ancillary public facilities. Parcel B has a site area of 18,114.82m2 and will have 28,797m2 of elderly residential apartments and public service facilities and 12,800.5m2 for care homes and health centers. All units will be held for sale. The Ganhua Project will be split into three phases, with pre-sale of Phase 1 commencing in May 2021 and the entire Project slated for completion in December 2026. The Project is currently at the land leveling stage. The purchase price of Jiangmen Yuehai is RMB 954,179,553, which is comprised of RMB 648,179,553 in cash (of which 70% is due on the one year anniversary of deal completion) and the assumption of RMB 306,000,000 in loans. As of August 31, the NAV of Jiangmen Yuehai is RMB 1,275.81 million. Additional details of the Project will be released in the upcoming Circular, which is scheduled for release on November 19.
Huizhou Yuehai owns the Huizhou Dayawan Project, which is located in the Dayawan District of Huizhou, roughly 60km northeast of Shenzhen. The Project has a total site area of 30,698m2 and will be developed to have 92,094m2, comprised of 81,469m2 of residential space, 9,209m2 of commercial space, and 1,416m2 for ancillary public facilities. Development is expected to be completed in October 2023 and pre-sale is expected to start in March 2022. All units will be held for sale. The Project is currently at the land leveling stage. The purchase price of Huizhou Yuehai is RMB 273,797,700, of which RMB 82,139,310 is payable upon completion and the remainder is due on the one year anniversary of deal completion at a 4.35% interest rate. As of August 31, the NAV of Jiangmen Yuehai is RMB 288,990,472. Additional details of the Project will be released in the upcoming Circular.
This deal looks to be another positive development for GDL as it adds to its portfolio of Greater Bay Area projects. Jiangmen Ganhua also provides a provide that will extend beyond GDH City, providing a better picture of future cash flows beyond its initial project. Another positive for GDL is that the majority of the purchase price is first payable on the one year anniversary of deal completion, which provides GDL greater cash flexibility in the near term while it sells existing units to generate cash.
Laurel House Deliveries Drive Q3 Revenue. Yesterday, GDL reported third quarter results with Revenue of HK$1,484.28 million, which nears the total Revenue we had estimated for H2:20. Revenue was driven by a surge in deliveries at Laurel House, which totaled 16,417m2 in the quarter. Cumulatively, GDL has delivered 73.4% of Laurel House. Occupancy of the commercial units at Laurel House stood at 85.4% at the end of the quarter. The remainder came from the delivery of 3,480m2 of space in the NW Land portion of GDH City. Total deliveries of GDH City stand at 18.4%, continuing to sell near our expected levels. GDL posted a slight loss for the quarter, at HK$12.58 million.
10-30-2020 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)
Antibe Therapeutics Receives Conditional Approval to Graduate to the Toronto Stock Exchange
Antibe Therapeutics Inc. (TSXV: ATE, OTCQB: ATBPF), a clinical stage company leveraging its unique hydrogen sulfide platform to develop safer medicines for pain and inflammation, is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (“TSX”) to graduate from the TSX Venture Exchange (“TSXV”) and list its common shares on the TSX.
“Graduating to the TSX is an important milestone for Antibe, reflecting both our progress and potential,” remarked Dan Legault, Antibe’s CEO. “With partnering activities expanding and preparations for our first Phase III study fully underway, this is the right time to broaden our investor base and raise the Company’s profile in the investment community. We appreciate the support of our shareholders and the efforts of the TSXV and TSX as we implement the next phase of our corporate strategy.”
10-7-2020 AzurRx BioPharma, Inc. NASDAQ; AZRX
AzurRx BioPharma CEO Issues Letter to Shareholders
NEW YORK, Oct. 07, 2020 (GLOBE NEWSWIRE) — AzurRx BioPharma, Inc. (“AzurRx” or the “Company”) (NASDAQ: AZRX), a company specializing in the development of non-systemic, recombinant therapies for gastrointestinal diseases, today issued the following letter to its shareholders and the investment community from James Sapirstein, President and Chief Executive Officer.
Dear AzurRx Shareholders,
This week marks my one-year anniversary as President and Chief Executive Officer of AzurRx. I’d like to take this opportunity to reflect on our team’s accomplishments over the past year and to provide an update on the current status of our business operations. I am pleased to report that we have been successful in achieving many of the milestones I have originally shared with you, which I will highlight in this letter. Based on the clinical results we’ve seen to date, I continue to believe that MS1819 has the potential to replace porcine-derived pancreatic enzyme replacement therapy (PERT) as the standard of care for exocrine pancreatic insufficiency (EPI), and that we will increase shareholder value as we continue to advance the drug’s development.
10-1-2020 SRAX, Inc. Nasdaq SRAX
SRAX to Move BIGtoken Into its Own Public Company
SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies, announced that its BIGtoken platform, which empowers consumers to earn money and control their own data, will become a separate publicly traded company.
SRAX has entered into a definitive share exchange agreement with Force Protection Video Equipment Corp (Ticker: FPVD), whereby SRAX will transfer all of the outstanding equity of BIGtoken in exchange for 88.9% of the issued and outstanding shares of FPVD, subject to certain closing conditions. The separation of BIGtoken as a company will enable SRAX to benefit from the potential upside of the BIGtoken platform while reducing SRAX’s costs and focusing management’s resources on the success and future profitability of Sequire. SRAX’s CEO Christopher Miglino will remain at SRAX to lead SRAX and the Sequire team, while also serving as chairman of the new entity.
9-3-20 Endurance Exploration Group, Inc. OTC EXPL
Endurance Exploration Group, Inc. and its Subsidiary, Caird Exploration, Inc., Have Entered into a Contract for Deep Water Film Production and Exploration
CLEARWATER, FL / ACCESSWIRE / September 3, 2020 / Endurance Exploration Group, Inc., (OTC PINK:EXPL) (“Endurance”), and it’s subsidiary, Caird Exploration, Inc. (collectively, “E/C”), companies that specialize in shipwreck research, survey and recovery, are pleased to announce they have entered into a film production access and film usage support contract.
The contract is a multi-party agreement which calls for E/C to provide a well-known, independent film production company (“Producer”) access to a number of E/C’s proprietar,y known shipwrecks and other proprietary subsea targets. Producer is under contract to produce a documentary for an internationally recognized network channel (“Network”) which focuses on Historical media content, and will use the content derived from its subsea filming of E/C’s targets in its upcoming documentary. Under the terms of the agreement, E/C will provide a suitable ship charter for the subsea filming operations, and will provide and manage all aspects of the subsea ROV equipment and it’s support personnel for the filming of these subsea deep water targets.
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gemeem@broderickrealty.com
Ph: 479-221-0809
Join the Beach Lovers Livin on the Water facebook Group to stay up to date on everything to do with waterfront living in our area.
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| December 10, 2020COMPANY QUOTES, LISTINGS RESEARCH AND NEWS Antibe Therapeutics, Inc (ATBPF) Profile11/11/2018News AzuerRx Biopharma, Inc. (AZRX)Profile7/11/2019News Can B Corp (CANB) Profile News Cavitation Technologies, Inc. (CVAT)Profile8/22/2019News Endurance Exploration Group, Ltd (EXPL) Profile 03-26/19News Guangdong Land Holdings Limited (124) HK Profile6/6/2019News H-Source Holdings, Ltd (HSCHF) Profile4/9/2019News Summit Wireless Technologies, Inc. 06/04/19 Social Reality, Inc. (SRAX) Profile 02/05/19News Apollo Future Mobility Ltd. (HK 0860) Profile2/23/2020News |
November 23rd, 2020
ValuEngine Weekly Report
By: Paul Henneman
The stock market had a great week. Perhaps there is light at the end of the tunnel for the virus with all sorts of positive vaccine news reaching the public this week. The economy is not out of the woods yet, but any investment professional or informed individual investor knows that the markets price stocks and investments for the future, not the present. The usual time frame given by most is 6 months out regarding where the markets are pricing stocks. It appears that vaccines will be widely distributed by mid 20201.
| Read Complete Reportwww.ValuEngine.com to log in, or free two-week full trial. Over 5,000 stocks, 16 sector groups, 140 plus industries covered every day. |
VALUATION WATCH: Overvalued stocks now make up 36.07% of our stocks assigned a valuation and 17.14% of those equities are calculated to be overvalued by 18.8% or more.
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Event Calendar Updates
Not Surprisingly most conference events are cancelled or postponed.
LD Micro Main Event (XIII)
LD Micro is the host of the most influential conferences in the small-cap world. With the recent SRAX acquisition, LD has access to the largest active base of micro-cap investors in the world at over 2 million and counting.
Rocky Mountain Microcap Conference
From Dave Lavigne-Trickle Research
Last week we completed Rocky Mountain Microcap Conference VI. Replays of all the presentations are now available on the conference site at the following URL/page if you would like to view them:
The page includes a table that will take you to each presenting company’s website, their Yahoo page, a replay of the virtual presentation and a copy of their conference powerpoint presentation. Also, for those presenting companies that are Trickle coverage companies, we have provided a link that will take you to that research at www.trickleresearch.com as well. Also, we will have research updates on most of these (as well as other coverage names) shortly.
Those companies include:
- OncoSec Medical Incorporated (ONCS)
- SRAX (SRAX)
- Summit Wireless Technologies, Inc. (WISA)
- Texas Mineral Resources Corp. (TMRC)
- Vext Science, Inc. (VEXT)
- Assure Holding Inc. (ARHH) (you will need a paid Trickle subscription to access this research)
- If You Can – If You Can is a private company, but the conference site includes a profile on the Company that we would encourage you to take a look at.
Dave Lavigne – Senior Analyst/Manager
Trickle Research LLC
720-394-1019
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