Weekly Update: July 18th, 2023
There are some signs that inflation is easing.
After more than two years of rising prices, the rate of inflation is falling—and fast. The consumer price index rose just 3% in June from the prior year, its smallest increase since March 2021. It’s down 6.1 percentage points in the past 12 months, marking the largest such decline since 2009, when inflation had turned to deflation.
You wouldn’t know that from the market’s reaction to Wednesday’s inflation print, which saw the consumer price index rise just 3% in a year, the smallest increase since March 2021. It peaked at 9.1% in June 2022, when prices were rising across nearly all categories of the CPI. The CPI soared 1.2% in June 2022 alone.
Looking at this we are still not out of the woods however, that could still spell trouble for the market
The Fed’s Inflation Fight Isn’t Over yet. That Could Spell Trouble for the Stock Market.
The job market may be cooling from its pandemic-era highs, but there’s one important metric where workers have finally notched a win.
After two years of crushing inflation — wiping out most workers’ pay gains, American workers are seeing a reprieve. Pay is finally rising faster than consumer prices, according to data from the Bureau of Labor Statistics.
Average worker pay has grown at an annual rate of 4.4% for the last three months, beating the Consumer Price Index, which grew 3% in June and 4% in May.
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7-17-2023 International Food and Beverage (OTC IFBC)
Italian Food & Beverage Corp. Announces Strategic Partner
PLAINVIEW, NY-(Accesswire 07-17-2023) – Italian Food & Beverage Corp. (OTC- IFBC)
IFBC is now an approved vendor for Ferraro Foods, one of the country’s largest specialty distributors of food and foodservice supplies to Italian restaurants and pizzerias in the eastern U.S.
Ferraro Foods serves over 8,000 customers in 26 states. Recently they have announced a major expansion of its Long Island distribution business with the addition of a 230,000-square-foot warehouse, this distribution center is expected to increase capacity in the largest specialty Italian foods market.
IFBC is currently coordinating efforts with the Ferraro Foods New York distribution center in Melville, the mutual goal is to collaborate with each respective sales team to expand both companies’ reach to new clients while introducing the Dino Luzzi energy drink regular and sugar free to the existing ones.
The Dino Luzzi Energy Drink is the only energy drink made in Italy currently in the Ferraro Foods line, and is now distributed in the State of New York and its boroughs by Ferraro Foods.
It should be a perfect fit to bolster the company’s brand.
Dino Luzzi, CEO commented, “We are excited that Ferraro Foods is adding our brand to their clients.
This purchase order shows their trust in our product line. We are working with their sales team to increase sales while continuing marketing the product and, we will continue to do what is needed to increase shareholder value, looking forward to updating shareholders in the next few months.”
6-29/-23 Antibe Therapeutics, Inc. (OTCQX ATBPF)
Year-End Results and Business Highlights
ompleted transition to otenaproxesul’s new formulation; tablet manufacturing underway
– PK/PD study results expected in calendar Q4 2023 with Phase II initiation in Q1 2024
– Ended year with $38.9 million in cash and equivalents
TORONTO, June 29, 2023–(BUSINESS WIRE)–Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical-stage company leveraging its hydrogen sulfide platform to develop next-generation therapies to target inflammation, has filed its financial and operating results for the fiscal year ended March 31, 2023.
“We made excellent progress in the year, much of it behind the scenes,” commented Dan Legault, Antibe’s CEO. “Foremost is the successful transition to otenaproxesul’s faster-absorbing formulation, a significant step that involved launching a new production process in a new plant. With comprehensive liver safety modeling in hand, we’re making final preparations for a short PK/PD study to finalize dose selection for the Phase II bunionectomy trial. We also completed candidate selection and a patent application filing for our IBD program and identified a new family of promising anti-inflammatory compounds. With our strong balance sheet, we’re poised to deliver shareholder value in the coming year.”
4-19-2023 Can B Corp. (OTC CANB)
Reports Growth of 45% to Company All-Time High $6.7 Million Annual Revenue
Led by Significant Increase in Duramed
Adjusted EBITDA Loss Decreased by 25% to $2.1 Million
HICKSVILLE, NY, April 19, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products, today announced the Company’s financial results for the twelve months ended December 31, 2022.
Key Financial Highlights for 2022
- Revenue increased 45% to $6.7 million.
- Gross profit decreased 13% to $2.6 million.
- Gross margin decreased to 39.1%, due to a higher revenue percentage mix from Duramed.
- Adjusted EBITDA loss decreased by 25% to $2.1 million.
- Accounts receivable at $6.6 million.
- Inventory at $2.0 million.
- Total assets at $15.6 million.
- Total stockholders’ equity at $2.7 million.
Coeptis Therapeutics Holdings, Inc. NASDAQ (COEP)
Coeptis Therapeutics Signs Agreement to Acquire Allogeneic Immuno-Oncology NK Platform in Phase 1 Clinical Trials from Deverra Therapeutics
Proposed transaction would provide Coeptis with two clinical stage assets leveraging NK cell therapies in relapsed or refractory acute myeloid leukemia (AML) and hospitalized respiratory infections, as well as preclinical programs for hematologic and solid tumors
Clinical data from AML Clinical Trial Expected during 2H 2023
WEXFORD, Pa. , April 18, 2023 /PRNewswire/ — Coeptis Therapeutics Holdings, Inc. (NASDAQ: COEP) (“Coeptis” or “the Company”), a biopharmaceutical company developing innovative cell therapy platforms for cancer, announced it has entered into a binding term sheet with Deverra Therapeutics, Inc. (“Deverra Therapeutics”) pursuant to which it has obtained an exclusive right, until August 31, 2023, to negotiate towards the acquisition or license of assets from Deverra Therapeutics related to its proprietary allogeneic stem cell expansion and directed differentiation platform for the generation of multiple distinct immune effector cell types, including natural killer (NK) and monocyte/macrophages. Deverra Therapeutics is currently advancing clinical programs investigating these technologies in relapsed/refractory acute myeloid leukemia (AML) or high-risk myelodysplastic syndrome (MDS) and patients hospitalized with respiratory viral infections.
3-15-2023 Can B Corp. (OTC CANB)
Can B Corp. Completes Corporate Debt Restructuring to Position for Uplisting to National Securities Exchange
HICKSVILLE, NY, March 15, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products and durable medical devices, is pleased to announce it has successfully completed a corporate debt restructuring.
Through the restructuring, Can B raised $1.55 million of new capital and extended previously due notes payable totaling $7.0 million to September 1, 2023, and December 31, 2024. Specifically, three Promissory Notes issued to three funds in early 2022 and three Promissory Notes issued to three private investors in late 2022 were restructured to extend maturity dates to late in 2023 to give the Company an additional window to deploy the capital from the new raise.
3-6-2023 International Food and Beverage (OTC IFBC)
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|July 17, 2023 |
COMPANY QUOTES, LISTINGS RESEARCH AND NEWS
Coeptis Therapeutics, Inc. Ecrid, Inc (ECDD) Profile
Antibe Therapeutics, Inc (ATBPF) Profile 11/11/2018 News
Can B Corp (CANB) Profile News
Endurance Exploration Group, Ltd (EXPL) Profile 03-26/19 News
International Food and Beverage Profile
2023 Midyear Review of Index ETFs and Smart Beta Strategies
July 17th, 2023 by Herb Blank
Approaching 2023, the experts were in near unanimity that the fourth quarter of 2022 was little more than a dead cat bounce and that once the inevitable recession hit, the bear market would quickly take the S&P 500 Index to new lows. Instead, the first six months have seen the Nasdaq-100 ETF, Invesco QQQ rise nearly 39% while IVV, the iShares S&P 500, gained 16%.
ValuEngine Capital Management LLC (VECM) is pleased to announce the addition of Jordan Kimmel to the team as the new Chief Equity Strategist and portfolio manager. VECM is a Registered Investment Advisor (RIA) that invests based on the proprietary, quantitative research produced by ValuEngine Inc. It is an important partnership between two companies: ValuEngine conducts research, and ValuEngine Capital Management LLC actively trades client funds using this research.
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