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Weekly Update: December 17th, 2020
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Breaking News
Here is what happens to Real Estate when things aren’t going well.
They blame it on Covid but I am sure the political climate, taxes etc. are a big part of it
New York’s Plummeting Real Estate Sales Cost City $1.2 Billion
(Bloomberg) — The pandemic’s slowdown in real estate deals has cost New York City $1.2 billion in lost revenue so far this year.
Sales of commercial and residential properties — everything from office buildings to hotels and condo units — are down 49% this year through November, according to a report Thursday by the Real Estate Board of New York.
That’s led to a 42% decline in city tax revenue, compared with the same 11-month period in 2019, the trade group said. The money comes from a long list of levies that each transaction generates. A dearth of deals means fewer collections of transfer and mansion taxes, and less income from newly recorded mortgages.
Real estate investors are taking a pause amid a pandemic that’s reordered how and where New Yorkers live and work — and, in turn, undermined property values. The pullback has dealt a crippling blow to the city’s economy, which relied on the real estate industry for 53% of its annual tax revenue in the last fiscal year, the real estate group said.
11-18-20 Can B Corp. (OTCQB: CANB)
Can B Corp Closes $2.8 Million New Financing
Eliminates All Prior Existing Convertible Debt and Provides Growth Capital
HICKSVILLE, NY, Dec. 17, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a diversified health and wellness company, is pleased to announce the closing of a $2.8 million debt financing from an institutional investor.
The investment enables Can B to pay off and eliminate all prior outstanding convertible notes without penalty. In addition, the new investment, along with an ongoing Reg A offering, should provide the capital needed to return to growth in 2021. Please see the Company’s recently filed 8K https://tinyurl.com/ycw5muor for complete details of the new debt financing.
12-16-20 Greenridge Global Securities Issues Update
Guangdong Land Holdings [HK: 124]
Shareholders Approve Jiangmen Ganhua and Huizhou Dayawan Acquisitions
Jiangmen Ganhua and Huizhou Dayawan Acquisitions Approved. Yesterday, shareholders approved the acquisition of a 51% equity interest in Jiangmen Yuehai and 100% of the equity of Huizhou Yuehai from Guangdong Holdings, the ultimate controlling shareholder of GDL, and Yuegang Investment, a subsidiary of GDH. Jiangmen Yuehai owns the Jiangmen Ganhua Project, a three phase project with 274,371m2 of residential, 28,797m2 of elderly residential apartments and public service facilities, 119,194.52m2 of commercial, 12,800.5m2 for care homes and health centers, and 3,035m2 for ancillary public facilities. Huizhou Yuehai owns the Huizhou Dayawan Project, which is comprised of 81,469m2 of residential space, 9,209m2 of commercial space, and 1,416m2 for ancillary public facilities, as well as a clubhouse and kindergarten on site that total 1,699m2 and are currently under lease, along with 6,541m2 of car park spaces, of which 76% have been delivered.
Model Update. We have added the Jiangmen Ganhua and Huizhou Dayawan projects into our model, starting in February 2021, which is the expected completion date. The two projects add to the Net Profit estimates of the Company starting in 2023, and extends GDL’s cash flow stream well beyond the GDH City project.
Maintaining Rating & Raising Target. The approval from shareholders to acquire the Jiangmen Ganhua and Huizhou Dayawan projects add two promising developments to GDL’s growing portfolio of Greater Bay Area properties. The acquisitions are structured in a cash-friendly way for GDL and should provide a strong cash flow stream beyond GDH City. With the expected cash flows from these new projects, we are reiterating our Buy rating on Guangdong Land Holdings and raising our target price from HK$4.00 to HK$5.00. Our target price is based on our DCF model that covers GDL’s entire project portfolio, discounted at 6.5%.
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.
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.
Alternative Investments
Wow Mortgage rates as low as 2.25% on a 30 year fixed mortgage
When has there been a better time to own commercial Real Estate in Fl.
Population Growth
Between now and April 1, 2024, the population of Florida is expected to grow by an average of 906 new residents per day, according to a news release from WFLA Channel 8 in Tampa. In fact, over the next two years Florida’s population is expected to grow by more than 700,000 residents.
Key Population Stats:
- In 2018 Florida had a state population of nearly 21.3 million people, according to the U.S. Census Bureau.
- Since 2010 the population of Florida has grown by 13.3% and is currently the third-largest state by population in the U.S.
- The State of Florida expects 906 new residents per day through April 2024, representing an annual compound growth rate of 1.53%.
- In fact, the Florida Chamber of Commerce reports that by 2030 Florida’s population could reach nearly 26 million residents, more than the current population of Australia.
- Florida counties expected to have more than 1.6 million residents in the next ten years are Miami-Dade, Broward, Hillsborough, Orange, and Palm Beach.
- The four largest metro areas in Florida are Miami-Fort Lauderdale-West Palm Beach with 6.1 million residents, Tampa-St. Petersburg-Clearwater with 3.1 million, Orlando-Kissimmee-Sanford with 2.5 million, and Jacksonville with just over 1.5 million residents.
- Although the state’s capital city of Tallahassee only has around 350,000 residents, the city’s growth rate is one of the fastest in Florida.
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| December 17, 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 |
December 14th, 2020
ValuEngine Weekly Report
By: Paul Henneman
Making Sense of ESG ETFs and Impact ETFs 12/14/2020
There are more than 100 US-listed ETFs categorized by Morningstar and others under ESG (Environmental, Social and Governance). All have an element of attempting to align investments with personally held social values. Under the hood, there are huge differences between many and subtle huge differences between others. Its a big subject, to support this lengthy blog issue we include THREE reports.
5000 stocks and 500 ETFs updated on www.ValuEngine.com. Free Access HERE
The Investment Company Institute uses three buckets for ESG mutual funds and ETFs, as follows:
- ESG inclusionary – refers to funds that use ESG information to select what stocks to include in their portfolios, such as companies with the highest ESG scores in their industry.
- ESG exclusionary – funds that eliminate stocks based on values, such as being fossil-free or “sin”-stock-free
- Impact investing – funds with a specific environmental, social or governance themes, such as green bond funds, diversity and inclusion, faith-based, resource preservation and/or clean energy funds.
| 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 was a great success.
You can listen to the recorded presentations here.
Rocky Mountain Microcap Conference
From Dave Lavigne-Trickle Research
A few weeks ago 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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