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Weekly Update: June 24, 2021
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Breaking News
Markets still say the economy is coming back big time as NASDAQ and S & P 500 set new record highs.
Technology stocks leading the way and a drop in new unemployment filings add to the good news.
“The value trade is still intact. It got overcrowded, it got over-loved … but when we look at the fundamental drivers behind that trade, they’re still intact,” Keith Lerner, Portfolio & Market Strategist at Truist Advisory Services, told Yahoo Finance.
Yahoo Finance 6-24-21
Introducing the new: China Stock Alerts Newsletter
China Stock Alerts provides timely information on China and the Chinese companies listed in the US on our website and daily newsletter. Please SUBSCRIBE for our daily newsletter, which is sent out before the market opens and features previous day gainers and losers, market and company specific news, and an updated calendar of earnings.
China Stock Alerts
TOP NEWS
June 24, 2021
- China Boosts Short-Term Cash Injection to Ease Liquidity Worries (Bloomberg)
- Xinjiang firms blacklisted by US seen ‘shifting orders within China’ to minimise impact (SCMP)
- China’s economy to ride out containment efforts by an increasingly anxious US, former official says (SCMP)
- Mining bitcoin could be about to get a whole lot easier after China’s crypto crackdown (CNBC)
- China’s debt-laden local governments struggle to secure refinancing as investors grow wary of default risks (SCMP)
Read Complete Report for June 24, 2021
Corporate News
6-24-21 Perpetual Industries, Inc. (OTC: PRPI)
Perpetual Industries Outlines Unique Offering Planned for the Car Collection Community – Strengthening Its Portfolio by Including Worldwide Auctioneers and AutoGrafic Software System Designed to Provide Auto Collectors, Enthusiasts, Restorers and Lovers with an Interactive and Connected Experience
AUBURN, Ind., June 24, 2021 (GLOBE NEWSWIRE) — via InvestorWire — In a strategic move to strengthen its portfolio, including its recently acquired Worldwide Auctioneers, as well as team leadership, Perpetual Industries Inc. (OTC: PRPI) completed its acquisition of the AutoGrafic Software System earlier this year (https://ibn.fm/PcJiX). PRPI is looking to create a unique offering in the world of collector cars by bringing Worldwide Auctioneers and the AutoGrafic Software System together in a synergistic offering designed to provide auto collectors, enthusiasts, restorers and lovers with a more interactive and connected experience (https://ibn.fm/YzFTj).
6-23-21 Blue Water Ventures, Inc. (OTCPK: BWVI), Endurance Exploration Group, Inc. (OTCPK:EXPL)
New Sonar Survey Discovers Large Unsalvaged Sections of SB Pulaski, 1838
Jacksonville, FL, June 23, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Project partners Blue Water Ventures, Inc. (OTCPK: BWVI), Endurance Exploration Group, Inc. (OTCPK:EXPL), and Marex International, Inc. are pleased to announce the start of the 2021 Recovery season on the SB Pulaski-1838.
The M/V Blue Water Rose was deployed off the North Carolina coast in early June with specialized high resolution side-scan sonar equipment and tasked with conducting an intense, high resolution sonar imaging survey of the areas near the project’s most recently salvaged site of the SB Pulaski. The mission, led by project managers Mark Martin and Rodney Grambo, has now located and inspected several dozen additional debris fields believed associated with the SB Pulaski sinking. The debris, which includes large sections of the ship’s machinery and contents, is scattered along a drift-line of several miles. Most importantly, a new section of the wreck, believed to be the elusive stern section which has evaded us for several years, is now believed to have been located. This section includes what appears to be an approximately one-hundred-foot section of the ship’s wooden keel, and a very large concentration of shipwreck artifacts and material. The SB Pulaski’s stern section sank approximately one hour after the ship’s boilers exploded causing the ship to break into two pieces, spilling her machinery and contents while the two ship’s sections continued to float until sinking.
6-18-21 Greenridge Global Securities Issues Update
Apollo Future Mobility Group, Ltd. [HKSE: 0860]
Maintaining Buy Rating andTarget HK$1.50
Shift In Inverter Model Should Yield Higher Profits Starting In 2023
H1:21 Results Driven By Jewelry & The Ideenion Closing. AFMG reported first half Revenue of HK$241.1 million, beating our estimate due to much higher legacy Jewelry sales. Two IEs were delivered during the period, as expected, however Outsourced Engineering Revenue was weaker due to COVID-related delays and the Jinpeng business being booked through Ideenion, which only had roughly one month included in the period. Operating expenses were higher than expected, at HK$267.6 million, due primarily to HK$106.8 million in non-cash stock-based charges. Losses from JVs and Associates totaled HK$22.9 million. Net Loss for the period was HK$201.8 million.
Operations & Model Update. We made a number of significant changes to our model. We continued to spread out deliveries of the initial IE deliveries and pushed out EVO deliveries by six months, but added in 10 additional IE Roadster units to be delivered in the next 18 months. We also adjusted the Inverter from a license model to a product sale model, which had a significant impact on the model. Switching from a license model to an OEM model, including partnering with a European motor manufacturer for the electric motor, will push out Revenue for this product and reduce the gross margin. However, the Revenue and Net Margin from this product should be higher as compared to what the license model would have produced. We expect there will be immediate demand from OEMs to test the Inverter/Electric Motor later this year. We also made reductions to the Jinpeng JV due to COVID-related delays. The timing of EVO deliveries, Jinpeng sales growing, and commercial orders for the Inverter set up 2023 to be a big year for AFMG, and all of this still excludes the Shanghai JV, which could potentially deliver more than 1,000 Apollo-branded EVs in 2023; we will continue to hold off adding this to our model until greater detail is provided on the structure and plan for the proposed JV.
6-14-21 SRAX, Inc. (NASDAQ: SRAX)
SRAX Releases the 1×1 Meeting Feature on the Sequire Virtual Events Platform
LOS ANGELES, Jun 14, 2021–(BUSINESS WIRE)–SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, has announced the release of its 1×1 Meeting Feature in the Sequire Virtual Events Platform. This new addition will allow companies to connect with existing and potential shareholders on an individual basis during an event.
The new 1×1 feature is an addition to Sequire Audience, a tool that allows companies to launch their earnings calls, shareholder meetings and other customizable events.
6-11- 2021 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)
Antibe Therapeutics makes presentation on latest developments on the LD Micro Virtual Conference
Login here to listen to the recorded presentation:
https://ldmicrojune2021.mysequire.com/
6-3- 2021 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)
Antibe Therapeutics Announces Close of Amalgamation Transaction to Unify Intellectual Property Ownership
Antibe Therapeutics Inc. (“Antibe” or the “Company”) (TSX:ATE) is pleased to announce that, further to its press release dated May 7, 2021, the Company has completed its previously announced amalgamation transaction (the “Transaction”) to combine Antibe with Antibe Holdings Inc. (“Holdings”). Antibe was founded with an exclusive intellectual property license from Holdings to develop and commercialize the Company’s pipeline drugs. The license obligated the Company to pay royalties to Holdings on revenues derived from this intellectual property. Pursuant to the Transaction, the Company has acquired full ownership of Holdings’ patent portfolio, eliminating the royalty liability on future revenues.
5-24-21 Perpetual Industries, Inc. (OTC: PRPI)
Perpetual Industries Announces Strong First Quarter 2021
AUBURN, Ind., May 24, 2021 (GLOBE NEWSWIRE) — via InvestorWire — Perpetual Industries Inc. (OTCMARKETS:PRPI) (“Perpetual” or the “Company”) is pleased to announce the highlights of its financial and operating results for the first quarter ended March 31, 2021.
First Quarter 2021 Highlights:
- Record gross revenues recorded of $732,414, a growth of 100% year over year.
- Record gross profits recorded of $531,006, a growth of 100% year over year.
- An 87% decrease in net operating losses recorded of $(21,924) in Q1 2021 over $(174,176) Q1 2020.
- Cash recorded of $1,669,838, an increase of 183% over year ending Dec. 2020.
- Total assets recorded of 4,746,166, an increase of 435% over year ending Dec. 2020.
- Acquisition of Worldwide Auctioneers, a wholly-owned subsidiary and new revenue stream.
- Purchased AutoGrafic Software System, a SaaS and social application for the Blockchain division.
Read Complete Release
5-22-21 Can B Corp. (OTCQB: CANB)
Can B Corp Announces First Quarter 2021 Results
– Strengthened Balance Sheet with $1.7 Million Cash Balance
– Strong Gross Margin of 75%
HICKSVILLE, NY / ACCESSWIRE / May 22, 2021 / Can B Corp. (OTCQB:CANB) (“Can B” or the “Company”) a diversified health and wellness company, announced today operating and financial results for the three months ended March 31, 2021.
Marco Alfonsi, Can B’s Chief Executive Officer, commented, “While we experienced a decline in our revenue due to Covid-19’s negative impact on markets we serve in elective surgeries and lost clients due to business closings of certain distributors, we have taken the time to maintain and strengthen our vertically integrated platform. As an integrated Health & Wellness company providing the highest quality cannabidiol (CBD) and traditional wellness products our business pipeline remains strong for both our own branded lines and our private label contract manufacturing. Additionally, we are in several ongoing discussions with potential corporate opportunities and strategic partnerships and acquisitions that would accelerate our growth.”
Read Complete Release
5-17-21 SRAX, Inc. (NASDAQ: SRAX)
SRAX Reports Continued Revenue Growth in Q1 2021 and Increases Full-Year Guidance
SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, is providing unaudited financial results for Q1 of 2021 today, May 17th, 2021.
First Quarter 2021 and Recent Operational Highlights and Guidance
- Revenue for Q1 of $5.4M up 1,450% year-over-year, 21% sequentially quarter-over-quarter, exceeding previous guidance
- Full-year revenue guidance increased from $23M – $25M to $25M – $27M
- Sequire bookings of $10M for Q1 and $7.2M to date in Q2
- 9 consecutive quarters of Sequire SAAS growth
- Currently holding approximately $23M worth of marketable securities
- 200 public companies/partners have subscribed to Sequire, up 17 since our Q4 release
- Sequire revenue to be recognized from existing contracts in 2021: $19.8M as of this release.
- Second Quarter revenue guidance reiterated at $7M
Read Complete Release
5-12-21 Can B Corp. (OTCQB: CANB)
Can B Corp. Enters the Industrial Hemp Business
(“Can B” or the “Company”), a diversified health and wellness company, is pleased to announce its recent purchases of additional equipment in order to increase production at its industrial hemp facility in Colorado.
In addition to the hemp growing and cultivations already underway in CO and NY under our Botanical Biotech division, the Company is entering the industrial hemp business. Fresh from a farm equipment auction in CO, the Company acquired the basic equipment to grow and harvest industrial hemp. The equipment includes specially modified for hemp combines, grapplers, forage wagons, a semi-tractor/ trailer and a plethora of additional equipment for a full-on grow and harvest, all purchases for dimes on the dollar.
5-7- 2021 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)
Antibe Therapeutics Announces Agreement to Unify Intellectual Property Ownership
– Amalgamation secures 100% ownership of IP underlying Antibe’s pipeline
– Strengthens position in large-market partnering discussions
Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF) (“Antibe” or the “Company”), a clinical stage company leveraging its hydrogen sulfide platform to develop next-generation safer therapies for a wide range of inflammatory conditions, today announced that the boards of directors of Antibe and Antibe Holdings Inc. (“Holdings”) have agreed to combine the companies in an amalgamation transaction pursuant to which shareholders of Holdings will receive common shares of the Company in exchange for their shares of Holdings. This agreement follows negotiations originally announced in December 2020.
5-5-21 SRAX, Inc. (NASDAQ: SRAX),
SRAX Will Host the 2021 LD Micro Invitational Via the Sequire Platform on June 8th – 10th
SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, will host the 2021 LD Micro Invitational, a prominent 3-day virtual investor conference, via their Sequire Virtual Events platform on June 8th-10th, 2021.
LD Micro is the host of the most influential conferences in the small-cap world. The Invitational in particular is unique. The event focuses on newcomers and companies on the “cusp” of doing big things. “If right, it’s a glimpse into the future,” said Chris Lahiji, Founder of LD Micro.
4-30-21 Greenridge Global Securities Issues Update
Guangdong Land Holdings, Ltd. [HKSE: 0124]
Maintaining Buy Rating and Lowering Target HK$4.00
Zhongshan GDH City Project Ownership Increased
GDH City And Laurel House Deliveries Boost Q1. GDL reported total Q1 Revenue of HK$1,424.9 million on the higher deliveries from the NW Land of GDH City and Laurel House. The NW Land of GDH City delivered 10,861m2, bringing the total delivered to 33,020m2, or 28.8%. Laurel House deliveries totaled 7,536m2, bringing total m2 delivered to 94.1%. The commercial space, GD?Delin, increased the occupancy rate to 88.1% from 85.4% at the end of 2020. The last 193m2 of Ruyingju was delivered, completing the delivery of its Residential units; 35.8% of the car-parking spaces remain available. Baohuaxuan deliveries were 97m2, taking its delivered total to 97.3%. Gross Margin was 42.8%, slightly above our estimate. The Fair Value Gain of its Investment Properties increased HK$26.5 million, resulting in Net Profit of HK$212.25 million, or HK$12.40 cents per share.
GDL Increases Interest In Zhongshan GDH City Project. On April 28, the Company announced its wholly-owned subsidiary Guangdong Yuehai Land would purchase 88.2128% of the Zhongshan GDH City Project from its 80%-owned subsidiary Guangzhou Panyu for RMB 1,342,656,507. Guangzhou Panyu will hold the remaining 11.7872%, and bring GDL’s cumulative ownership of the Zhongshan Project to 97.64%. The land for the Zhongshan Project was acquired in December and will be developed into a 247,028m2 residential development near the Shenzhen-Zhongshan Bridge. As it is an inter-Company transfer there will be no gain or loss on the transaction, but it will give shareholders a bigger stake in the Project going forward.
4-14-21 Can B Corp. (OTCQB: CANB)
Strong Gross Margin of 84%
Efficiencies and Lower Expenses Lead to a Significant Reduction in Operating Loss
HICKSVILLE, NY / ACCESSWIRE / April 14, 2021 / Can B Corp. (OTCQB:CANB) (“Can B” or the “Company”), a diversified health and wellness company, announced today operating and financial results for the year ended December 31, 2020.
“As it was for many companies, 2020 was a challenging year for us,” commented Marco Alfonsi, Can B’s Chief Executive Officer. “We took the time to right-size our expenses, focus our energy on higher margin revenue opportunities and improve our positioning for future growth and profits.”
4-7-21 Greenridge Global Securities Issues Update
Apollo Future Mobility Group, Ltd.[HKSE: 0860]
Buy Rating-Target HK$ 1.50
Deal Announced With Shanghai Jinqiao To Launch Apollo EV Prototype Later This Year
Shanghai Jinqiao EV Deal Announced. On March 30, AFMG announced it signed an agreement with Shanghai Jinqiao [SS: 600639 / 900911] to develop and manufacture EV sports cars, luxury vehicles and SUVs with the “Apollo” brand name in the Development Zone in Pudong, Shanghai. AFMG intends to create a JV with a local partner and will set up a R&D center, regional headquarters and production lines in the Development Zone. Jinqiao will provide land for the plant and work with the government to secure capital for the project, similar to the deal Tesla [Nasdaq: TSLA] received. Management believes the location is ideally suited from a supply chain standpoint, with numerous auto-related companies in the Development Zone. We believe this arrangement is likely the result of AFMG’s strong showing at CIIE in November. The prototype vehicle, which will be designed by Ideenion and incorporate solid state batteries, 800V SiC dual inverters and 3D printed parts, will launch later this year, with commercial production expected in 2023. Should AFMG find a solid partner, this deal could create unique a domestic China EV brand that showcases the Company’s technology and design expertise. Additionally, it could completely transform AFMG’s financials and create a substantial increase in the Company’s stock price given the valuations of other EV companies.
Legacy Property Sold. On March 30, AFMG announced it agreed to sell its legacy commercial property in Shenyang to an unrelated buyer for HK$200,000,000, which carried a NAV of HK$199,063,000. Legacy asset divestitures have been expected for some time and this marks another step towards exiting old business lines as generating cash to be put into the mobility business.
EV Power Update. On February 25, the Company announced that EV Power accepted an equity investment from a HK-listed telecom company. The size of the investment and the valuation were not disclosed. The investment drops AFMG’s ownership in EV Power from 38.08% to 32.66%. By way of comparison, EV Power and Blink Charging [Nasdaq: BLNK] each have roughly 23,000 charging units. Blink has a market cap of US$1.80 billion, which when placing equal value to the charging units, would make AFMG’s equity position worth roughly HK$4.6 billion, or slightly more than 860’s entire market cap.
Model Update. Despite the magnitude of the announcements, we made few changes to our model. We will hold off on adding any impact on the Apollo EV announcement until a JV partner is announced and there is a better idea of how that will be structured and funded.
4-6-21 Perpetual Industries, Inc. (OTC: PRPI)
Perpetual Industries Acquires the AutoGrafic Software System
AUBURN, Ind., April 06, 2021 (GLOBE NEWSWIRE) — via InvestorWire — Perpetual Industries Inc. (OTCMARKETS:PRPI) (“Perpetual” or the “Company”) today announces it has completed its acquisition of the AutoGrafic Software System.
AutoGrafic is a software as a service (SaaS) and social application that utilizes cutting-edge technology to host a myriad of aspects for automotive promotion and preservation. It targets global collector car and automotive enthusiasts who want a unique, multifaceted, interactive automotive experience that is focused on a visual-based social community, collection management, social events, auctions, insurance, research, preservation and historical documentation.
Alternative Investments-
All kinds of buys in the hospitality Industry especially restaurant and bar properties
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| June 24, 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 |
June 15, 2021
ValuEngine Weekly Report
By: Herb Blank
Defensive Sector ETFs for Turbulent Times
This week’s featured US equity ETFs, all focused on the US Consumer Staples Sector, are projected to outperform the market going forward. The similarities with last week’s blog end there. These all get a more modest 4 (buy) recommendation. Risk versus safety differentiate the last blog from this one.
My last blog entry profiled ETF opportunities in the Biotech subindustry group. They were all listed as top 5 rated ETFs from ValuEngine, following recent pullbacks. All had been characterized by above-average market volatility and above-average returns during the past 10 years. All had very different construction and maintenance methodologies. This week the chosen ETFs are all from the US Consumer Staples Sector.
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Event Calendar Updates
Not Surprisingly many conference events are cancelled or postponed- but are now getting back in action.
Event: The LD Micro Invitational
Date: Tuesday, June 8th – Friday, June 10th, 2021
SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, will host the 2021 LD Micro Invitational, a prominent 3-day virtual investor conference, via their Sequire Virtual Events platform on June 8th-10th, 2021.
Login Here to listen to recorded presentations: https://ldmicrojune2021.mysequire.com/
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-SMM Distribution Update-
Distribution (Reach)
SMM Global Twitter Acct (Impressions last 30 days) 520
SMM Global Facebook Page (Reach last-30 days) 6,462
SMM Linkedin Pages (contacts) 1,100
SMM Youtube Channel (followers) 6
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Direct Email * 249,000
Total 256,460