Stock Market Manager Weekly Update: February 18th, 2021

  Weekly UpdateFebruary 18, 2021

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Breaking News

Crazy Times, Bitcoin at $51,000 and the market continuing to perform amidst the Covid Pandemic.


Thu, February 17, 2021. Yahoo Finance

Dow Rallies As Bulls Battle Bears; Boeing Stock Makes Key Move; Bitcoin Play Pares Gains

The Dow Jones Industrial Average rose, but was off highs, in a mixed session where the bulls battled to overcome the bears. Boeing (BA) moved above a key technical benchmark. Salesforce.com (CRM) was another blue-chip stock that was performing well.

Much-hyped IPO stock Palantir Technologies (PLTR) plunged on a disappointing earnings report, while the Greyscale Bitcoin Trust (GBTC) was giving up its gains.

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2-17-2020 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)

Antibe Therapeutics Announces C$35 Million Bought Deal Public Offering

TORONTO, Feb. 17, 2021 /CNW/ – Antibe Therapeutics Inc. (“Antibe” or the “Company”) (TSX: ATE) today announced that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (together, the “Underwriters”) and pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 5,850,000 units (the “Offered Securities”) in the capital of the Company at a price of C$6.00 per Offered Security (the “Offering Price”) for aggregate gross proceeds to the Company of C$35,100,000 (the “Offering”).

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1-11-2020 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)

Antibe Therapeutics Announces Strategic Licensing Deal in China With Nuance Pharma
– US$100 million in milestone payments including US$20 million upfront, as well as a double-digit royalty

– Nuance’s business model, commercial acumen and collaborative approach considered an ideal fit for Antibe

Antibe Therapeutics Inc. (TSX: ATE, OTCQB: ATBPF) today announced that it has licensed otenaproxesul to Nuance Pharma for commercialization in the Greater China region. Nuance is a biopharmaceutical company focused on licensing, developing and commercializing globally innovative therapies to address critical unmet medical needs in China and other Asia Pacific markets. Founded by Mark Lotter, who built the AstraZeneca commercial franchise in China, and led by executives with extensive multinational pharma experience, Nuance focuses on identifying and in-licensing therapies that have achieved best-in-class, human proof-of-concept status.

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2-8-21 Greenridge Global Securities Issues Update

Guangdong Land Holdings, Ltd. [HKSE: 0124]
Maintaining Buy Rating and Target HK$5.00

HK$1.0 Billion Loan Facility Announced

HK$1.0 Billion Loan Facility.  Last week, GDL announced it entered into a term facility with an undisclosed bank for HK$1.0 billion.  The announcement of such a facility has been expected as the Company continues to add to its property portfolio.  We expect the funds will be used for development and operating expenses in between cash receipts from the pre-sale and sale of completed properties. 

Acquisitions Completed.  On January 13, the Jiangmen Acquisition was completed and on January 18, the Huizhou Acquisition was completed.  Please see our November 2, 2020 and December 16, 2020 reports for additional details.

Model Update.  We made no changes to our model as we had assumed bank financing and the completion of both acquisitions.

Maintaining Rating & Target.  The news since our last update had largely been expected.  With no changes to our model we are reiterating our Buy rating and HK$5.00 target price on Guangdong Land Holdings.  Our target price is based on our DCF model that covers GDL’s entire project portfolio, discounted at 6.5%.  

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1-13-2020 SRAX, Inc. Nasdaq SRAX
SRAX to Host and Present at the B. Riley Securities 2021 Vision Day on the Sequire Virtual Events Platform

SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, announced that it will be hosting the B. Riley Securities 2021 Vision Day via its Sequire Virtual Events platform, and presenting at the event as one of B. Riley’s top picks for 2021.

Sequire’s Virtual Events platform, allowing companies to virtually present to institutional and retail investors, is the most recent addition to the suite of products on the Sequire platform. “We recognize that virtual events are here to stay, and for public companies, the platform offers everything issuers need to host their meetings with maximum exposure,” said Christopher Miglino, Founder and CEO of SRAX.

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1-11-2020 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)

Antibe Therapeutics Provides 2021 Corporate Update
– Large market partnering program now underway –

– Limited COVID-19 impact: Phase III program slated to start in second half of 2021 –

– U.S. institutional outreach expanding –

Antibe Therapeutics Inc.:

To our shareholders,

As we build on last year’s significant clinical and capital markets achievements and enter the homestretch in the strategic monetization of otenaproxesul, we want to update you on our progress and plans. We are particularly gratified by the recent uptick in interest by both global and regional potential partners, supporting otenaproxesul’s compelling value proposition and revenue opportunity. We are also encouraged by the response to our U.S. institutional outreach, further validating our strategy for unlocking the value of our assets as we move toward a potential listing on a senior U.S. exchange.

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12-18-2020 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)

Antibe Therapeutics Announces Intent to Unify Intellectual Property Ownership

ntibe Therapeutics Inc. (TSX: ATE, OTCQB: ATBPF) (the “Company”), a clinical stage company leveraging its unique hydrogen sulfide platform to develop safer medicines for pain and inflammation, today announced that it has commenced preliminary discussions to amalgamate Antibe Holdings Inc. (“Holdings”) with the Company in order to unify the intellectual property (“IP”) ownership of the Company’s drugs and platform. The Company believes that such an initiative would unlock value for potential partners and investors while simplifying IP protection for pipeline expansion efforts now underway.

“As described in our ongoing disclosures, the Company was founded with an exclusive license from Holdings,” commented Dan Legault, Antibe’s CEO. “Based on this IP, we have achieved human proof-of-concept for otenaproxesul and developed compelling preclinical data for our other pipeline drugs. As we map out strategic initiatives with prospective partners and healthcare-specialized investors, we expect full ownership of the underlying IP to strengthen our corporate position. It also represents another step in our growth strategy, complementing our recent graduation to the TSX, share consolidation and the appointment of U.S.-based directors.”

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1-6-21 Greenridge Global Securities Issues Update

Apollo Future Mobility Group, Ltd.[HKSE: 0860]

Buy Rating-Target HK$ 1.50

Ideenion Acquisition EGM set

Ideenion Acquisition Update.  AMFG released the Circular for the Ideenion acquisition and announced it is holding an Extraordinary General Meeting on January 29 at 11am in Science Park to vote on the acquisition.  A few key notes from the Circular include that prior to COVID, Ideenion was generating roughly HK$157.6 million in Revenue and HK$37.9 million in Net Profit per year.  Despite being impacted by COVID, it has a pipeline of projects worth roughly €24,450,000 (HK$233,000,000), as well as being in final negotiations with an emerging market client for a fuel cell vehicle and an EV setup with a total project value of €49,000,000 (HK$467,000,000), which gives the vendors confidence in the profit targets being reached for the contingent cash and share issuances.  The independent valuer found a current valuation of €22,000,000.  AMFG is paying €15,000,000 in cash at closing, plus another €1,400,000 in cash and €5,600,000 in shares annually upon meeting profit targets in each of 2021, 2022 and 2023.  All of the cash in Ideenion will be paid out to the Vendors prior to closing with the exception of €1,500,000.  We again note, the potential share issuance is based on Ideenion reaching profit milestones over a three year period with shares being issued at the higher of HK$0.52 or the three-month daily average.  

H2:20 Results.  AMFG reported second half 2020 results (ending September 30) with Revenue of HK$100.8 million, down significantly due to the impact of COVID.  No Apollo IE hypercars were delivered in the period, although one was delivered prior to the end of the calendar year.  Auto engineering services Revenue was just HK$2.6 million as many projects were put on hold.  All of the legacy businesses were hit hard by COVID, as well as Property Investment due to Shenyang expropriating property that the Company owned, which resulted in Other Gains, Net of HK$255.9 million and HK$281.2 million of Land Appreciation Tax in the period; AMFG turned a profit on the building as it had previously been marked up.  Net Loss for the period was HK$141.8 million, or HK$1.98 cents per share.

Model Update.  The model continues to be subject to significant fluctuations due to COVID, however it will get a bit of stability with the closing of the Ideenion acquisition and the world creeping back to normalcy with global vaccine distribution underway.  One Apollo IE was delivered before the end of calendar Q4, marking the third such delivery; two were delivered prior to the completion of the acquisition.  We expect a total of four to six IE’s to be delivered over the course of fiscal 2021, with the remainder falling in fiscal 2022.  The launch of the next Apollo model has been pushed back, and will now be launched later this year.  The DeTomaso P72 has been delayed as well, with deliveries now expected in 2022, however AMFG should begin receiving its license fee on each car produced starting later this year.  We continue to expect the auto products and services business to grow quickly as the world exits COVID and ramp significantly starting in 2022 as a number of the previously discussed products roll out to market.  As a result of these changes, our estimated Revenue and Net Profit numbers for fiscal 2021 and 2022 have contracted.

Retirement of Non-Executive Director.  On December 30, Co-Chairman Zhang Jinbing notified the Board he would not seek re-election to the Board due to his other business commitments.  Mr. Zhang was previously Chairman prior to the change in direction of AMFG in late 2016.

Maintaining Rating & Target.  Getting the Ideenion deal done is an important step for AMFG as it broadens the Company’s reach and tier one customer base.  We continue to believe AMFG is ideally positioned for the changing auto industry with its engineering capabilities and product offerings.  As such, we are reiterating our Buy rating and HK$1.50 target price on Apollo Future Mobility Group.  Our target price is based on a P/E multiple of 25 times our fiscal 2022 Diluted EPS estimate of HK$5.64 cents. 

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12-30-20 Greenridge Global Securities Issues Update

Guangdong Land Holdings [HKSE: 0124]

Buy Rating-Target HK$ 5.00

Land Acquired In Zhongshan City Near The Zhongshan-Shenzhen Bridge 

Land Acquired In Zhongshan City.  On Monday, GDL announced Guangzhou Panyu, an 80%-owned subsidiary, won a bid for the land use rights of 98,811.2m2 of land in Tsuihang New District, Zhongshan City.  The land is ideally situated near the bridgehead for the Shenzhen-Zhongshan Bridge, which is scheduled for completion in 2024, giving it both water views and convenient access to Shenzhen.  The winning cash bid was RMB 3,705,420,000.  The project is expected to have a total GFA of 247,028m2 and be comprised of residential units that will be held for sale upon completion. 

Model Update.  We added the new Zhongshan City project into our model, which will have a large, positive impact on the Income Statement starting in 2024, based on our assumptions.

Maintaining Rating & Target.  The Zongshan City land acquisition looks to be another strong property in the Company’s portfolio, and one that could see outsized returns as it and the Shenzhen-Zhongshan Bridge near completion.  We continue to believe GDL’s property portfolio is undervalued by the market and are reaffirming our Buy rating and HK$5.00 target price on Guangdong Land Holdings.  Our target price is based on our DCF model that covers GDL’s entire project portfolio, discounted at 6.5%.

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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.

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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%.

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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. 

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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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February 18, 2021 COMPANY QUOTES, LISTINGS RESEARCH AND NEWS  

Antibe Therapeutics, Inc (ATBPF)  Profile 11/11/2018 News
AzuerRx Biopharma, Inc. (AZRX) Profile 7/11/2019 News
Can B Corp (CANB) Profile News
Cavitation Technologies, Inc. (CVAT) Profile 8/22/2019 News
Endurance Exploration Group, Ltd (EXPL)  Profile   03-26/19 News Guangdong Land Holdings Limited (124) HK      Profile 6/6/2019 News
H-Source Holdings, Ltd (HSCHF)    Profile 4/9/2019 News
Summit Wireless Technologies, Inc.   06/04/19
Social Reality, Inc. (SRAX) Profile    02/05/19 News
Apollo Future Mobility Ltd. (HK 0860) Profile 2/23/2020 News

February 5, 2021
ValuEngine Weekly Report

By: Herbert Blank
ValuEngine Weekly Market Update: 02/05/2021

Actively managed ETFs have evolved very differently from index-driven ETFs. Most of the assets have been accumulated in actively managed fixed income ETFs while the vast preponderance of Assets Under Management in Equity ETFs are index driven. Although there are many legacy reasons for this, the fact is that the efficiencies of the ETF structure, tax and operational, benefit fund shareholders of actively managed funds even more than the benefits long realized by those holding index-driven ETFs. ETF’s covered in this post: AIEQ, ARKK, ARKW, CWS, DYNF, FTHI, HUSV

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Want to learn more about ValuEngine? Our methods? Our history? 
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SMM Research Partners

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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.

See the Press Release

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: http://rockymtmicro.com/rmmc-conference-vi-presenters-2/

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

Visit our homepage for up to the minute Financial News, Quotes and our Latest Black Swan Connection Newsletter

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