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Weekly Update: May 27, 2021
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Breaking News
New unemployment claims fell again to a new low since the Pandemic began. Just another bit of great news for the economy.
As vaccinations, increase businesses have reopened and mask and social distancing standards relaxed. A couple of recent visits to local restaurants proved this out. Retail hospitality locations seem really busy again.
The Department of Labor released its weekly report on new jobless claims Thursday at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus data compiled by Bloomberg:
- Initial jobless claims, week ended May 22: 406,000vs. 425,000 expected and 444,000 during the prior week
- Continuing claims, week ended May 15: 3.642 million vs. 3.680 million expected and a revised 3.738 million during the prior week
Yahoo Finance 5-27-21
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.
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TOP NEWS
May 27, 2021
- U.S., China Trade Chiefs Hold ‘Candid’ Talks in First Call (Bloomberg)
- Biden’s Top Man in Asia Says the Era of Engagement With China Is Over (Bloomberg)
- China economy: ‘uneven’ corporate performance in spotlight as industrial profit growth slows in April (SCMP)
- China warned of excessive market intervention as commodity prices start to fall (SCMP)
- China-EU investment deal: Beijing calls on France to help unfreeze debate, shelved over sanctions (SCMP)
Read Complete Report for May 27, 2021
Corporate News-
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.”
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.
3-31-21 Greenridge Global Securities Issues Update
Guangdong Land Holdings, Ltd. [HKSE: 0124]
Maintaining Buy Rating and Target HK$5.00
Dividend Announced As Portfolio Development Continues On Schedule
Strong Laurel House Sales Drive Down Margins And Profit. GDL reported Revenue of RMB 2,101.8 million in H2:20, inline with our estimate. The bulk of the Revenue in the period was from Laurel House, which delivered 22,425m2 in the second half, bringing its amount delivered to 82.6%. There is another 8,545m2 contracted and awaiting delivery, which brings the total contracted GFA to 95.6%; GD●Delin ended with an occupancy rate of 85.4%. NW Land of GDH City delivered 4,577m2 in H2:20 after making initial deliveries in June. However, GDL added 20,279m2 in contracted sales during the period, bringing the total contracted GFA to 38,902m2 and foreshadows stronger 2021 Revenue. The remainder of the Revenue in the period was from delivery of car parking spaces at Ruyingju. Operating expenses surged in the period, with SG&A more than doubling from the year ago period to HK$262.0 million. The increase was related to the expansion of sales activities, specifically with GDH City, and the greater number of properties in GDL’s portfolio. Net Loss for the Period was HK$54.9 million, worse than expected due to higher SG&A and lower Gross Margins due to the Revenue mix skewing heavy towards Laurel House.
Dividend Announced. GDL announced a dividend of HK1.53 cents per share for the year ending 2020, which comes as a bit of a surprise given it is using a significant amount of cash for its ongoing portfolio development. We believe the dividend shows management’s confidence in the development of the portfolio in a profitable and on-budget manner. The date of record for payment is expected to be on or around June 25, 2021.
Model Update. The biggest changes to our model was adjusting H1:21 related to GDH City and Laurel House, as well as increasing the SG&A going forward. The net results had a minimal impact on the overall model.
Maintaining Rating & Target. The Company reported another period of strong unit sales and deliveries, with the entire portfolio continuing to move on schedule. With no meaningful changes over the 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%.
3-17-2021 Blue Water Ventures International, Inc. (OTCPK:BWVI) and project partner Endurance Exploration Group, Inc. (OTC:EXPL)
Blue Water Ventures International Signs Extension on Pulaski Recovery
Jacksonville, FL, March 17, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Blue Water Ventures International, Inc. (OTCPK:BWVI) and project partner Endurance Exploration Group, Inc (OTC:EXPL) through its wholly own subsidiary Swordfish Partners have confirmed that both parties have agreed to an extension of the Pulaski Joint Venture through year end 2022.
The extension will allow the joint venture additional time to complete the recovery on the existing work site of the Pulaski and expand its survey to an additional area of interest, believed to be the resting place of the 2nd half of the Pulaski when she exploded during the night in June 1838. The current area of work includes the boiler and main common areas of the ship. The 2nd area of interest should include passenger staterooms and baggage compartments. Past year’s exploration of the Pulaski site has produced over 500 coins, pocket watches, silver ware sets and copious amounts of shipwreck material.
3-15-21 SRAX, Inc. (NASDAQ: SRAX),
SRAX Releases the shelf Registration Feature on the Sequire Platform
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 Shelf Registration Feature. This new Sequire addition combines data and technology to provide actionable insights to public companies in regards to their shelf availability.
The new shelf registration feature joins many other unique and robust Sequire features such as warrant management, situation room, and shareholder surveys.
The shelf feature enables shelf eligible users to review and keep track of their shelf registration and current shelf availability. Included with this is the Shelf Prediction Tool: a real-time application to explore potential “market windows,” showing the impact of market volatility and thus improving funding plans.
3-18-21 Can B Corp. (OTCQB: CANB)
Can B Corp. Acquires Assets from Leading-Edge Hemp Technology Group
Adds Expertise in Pharmacokinetics for the Confluence of Science, Nature, and Culture
HICKSVILLE, NY / ACCESSWIRE / March 18, 2021 / Can B Corp. (OTCQB:CANB) (“Can B” or the “Company”), a diversified health and wellness company, is pleased to announce it has closed on the acquisition of assets and talent from a hemp derivative development and manufacturing group. A newly formed wholly-owned subsidiary, Botanical Biotech LLC (“BB”), will be the new home for Florida-based research & development laboratory and extraction facility for the Company. BB will focus on developing and implementing new pharmacokinetics technology and partnering with global and emerging brands to create innovative products and solutions that are positioned for sustainability and wellness and are culturally driven.
3-15-21 Greenridge Global Securities Issues Update
Guangdong Land Holdings, Ltd. [HKSE: 0124]
Maintaining Buy Rating and Target HK$5.00
GDH City Site Visit & Update
GDH City Site Visit & Updates. We were recently able to arrange a site visit of GDH City to get an update on the project, which continues to move on schedule (see pictures on pages 2 and 3). Additionally, we were told the customer interest in the apartments on the Northwest Land continues to remain strong. GDL has also made a number of announcements regarding the selection of contractors for different GDH City projects recently. Earlier this month, it announced contractor agreements for the Northern Land, which is still scheduled to be completed in the second half of 2022. It retained China Construction Dongfang to complete the Office Tower Fitting-Out Work at the Northern Land by January 31, 2022 at a cost of just under RMB 80,000,000. It also disclosed it retained China Construction Shenzhen to complete the Commercial Shopping Fitting-Out Work on the Northern Land by June 30, 2021 at a cost of nearly RMB 62,000,000. Last month, it announced the selection of China Railway Tunnel Group [HK: 390] to complete the tunnel pedestrian link to the subway at the Southern Land, which is scheduled to be completed by July 6, 2021 at a total cost of roughly RMB 79,000,000.
RMB400,000,000 Factoring Agreement. Last week, GDL announced it entered into a RMB400,000,000 factoring agreement with Foshan Yuehai. The factoring service charge will be 6.5%, making it a relatively inexpensive source of cash for continued project development. The agreement will run through the end of 2021.
Year-End Results. GDL will hold a Board meeting on Friday, March 26 to approve the 2020 annual results. We expect the results to be released shortly thereafter.
Model Update. We made no changes to our model.
Maintaining Rating & Target. The site visit was positive and the announced contract terms have largely fallen inline with our estimates. 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%.
3-3- 2021 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)
Antibe Therapeutics to Present at Upcoming Virtual Investor Conferences
Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical stage company leveraging its unique hydrogen sulfide platform to develop next-generation safer therapies to address inflammation arising from a wide range of medical conditions, today announced its participation in the following investor conferences in March:
H.C. Wainwright Global Life Sciences Conference on Tuesday, March 9, 2021 at 7:00 am (Eastern Time) a pre-recorded company presentation will become available for on-demand viewing.
Roth Capital Partners Annual Conference, Live fireside chat on Monday, March 15, 2021, at 9:00 am (Eastern Time).
Oppenheimer & Co. 31st Annual Healthcare Conference, Company presentation on Tuesday, March 16, 2021 at 9:20 am (Eastern Time).
Maxim Group Emerging Growth Virtual Conference on Wednesday, March 17, 2021 at 10:00 am (Eastern Time) a pre-recorded company presentation will become available for on-demand viewing.
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| May 27, 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 |
May 24, 2021
ValuEngine Weekly Report
By: Valublog
Medical Miracles: Inside Biotech ETFs
The events of the past twelve months focused a lot of attention on amazing and life-altering developments made possible by the global biotech industry. Although the major names we heard were Pfizer, AstraZeneca, Johnson & Johnson and Moderna, only the last was where the original research and patents that produced the CoVid-19 vaccines were developed. Pfizer partnered with a German company called BioNTech while the other two pharmaceutical giants acquired firms with patents in genetically modified vaccines. Not that coronavirus vaccine research and clinical trials were happening in a vacuum. For example, among the clinical trials leading to FDA approval were two drugs shown to stop the spread of specific types of brain cancer. These original patents and research also originated at small biotech companies.
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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
Time: 7:00 AM PT – 3:00 PM PT / 10:00 AM ET – 6:00 PM ET
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.
The event is expected to feature around 180 companies, presenting for 25 minutes each, as well as several influential keynotes.
Register Here: https://ldmicrojune2021.mysequire.com/
The first day of this event will also feature an exceptional one-time event: the LD Micro Hall of Fame. Out of the nearly 2,000 companies that have attended the events, the top 50 in terms of performance will be featured on this day. June 9th and 10th will be the primary days allocated for company presentations.
“This year has provided us with a great opportunity to expand our virtual event platform, but of course, there’s nothing like the human connection you get at in-person events. We look forward to getting back to physical events, with a virtual twist, soon, but until then, we’re happy to bring you the 11th Annual Invitational on the Sequire Virtual Events platform,” said Chris Lahiji, founder of LD Micro.
More details soon.
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