Stock Market Manager Weekly Update: October 24th, 2023

Weekly UpdateOctober 24th, 2023

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Breaking News

If it weren’t for bad news there wouldn’t be any. Inflation still soaring, an auto workers strike that is dragging on, mortgage rates over 8% and now a war in the middle east.  This war shows signs of escalating into a major conflict and dragging the US into the middle of it.

Hard to get excited about the markets !! 

News today-yahoo finance

Stock market news today: S&P 500, Nasdaq tumble as Google slides

Stocks slid on Wednesday as investors digested mixed earnings reports from Microsoft (MSFT) and Alphabet (GOOGGOOGL) while Treasury yields pushed higher.

The Dow Jones Industrial Average (^DJI) fell roughly 0.1%, while the S&P 500 (^GSPC) fell almost 1.2% and the Nasdaq Composite (^IXIC) dropped more than 2%.

Alphabet shares slid more than 9% after the Google parent beat on earnings and revenue but fell short in its cloud business. By contrast, Microsoft stock popped 2% after its own double beat showed its bets on AI were paying off for its cloud segment.

Other megacaps lost ground as the mixed picture sapped some faith in Big Techs, which have powered gains in stocks this year. Amazon stock (AMZN) and Facebook parent Meta (META) — which reports results after the close Wednesday — were down about 3%.

Keeping your funds on the sidelines seems the smart thing to do

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Corporate News

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10-24-23 Thrive Therapeutics (FKA China New Energy) (OTC-Pink CNER)

Thrive Focus: Personalized Medicine – Institutionalizing Diabetes Care for Better Patient Outcomes

Spokane, WA – (October 25, 2023) – Thrive Precision Health (“THRV”) (formerly Thrive Global Biosafety and China New Energy Group Company (with subsidiary Thrive Testing and Biosafety Inc., “CNER” or “Company”) (OTC-Pink-Alternative Reporting Pink: CNER) is pleased to announce it has entered into a binding letter of intent to acquire two diabetes clinics on Arizona.

“Our strategy to bring advanced technology to diabetes care has taken its first step in the pending acquisition of True Diabetes Neuropathy and Wounds Solutions AZ, LLC.”, stated Guy Zajonc, CEO and Chairman of Thrive Precision Health.” ” To us, the words Precision Health and Personalized Medicine mean better outcomes by tailoring our approach and offering individualized treatment to every patient using proven science. We will continue to acquire or start new specialized diabetes clinics in Arizona with a goal of thirty more sites”.

THRV is developing a standardized clinical footprint that can scale nationwide and internationally to offer Wound Care, IV Therapies, Neuropathy Treatment, and enhanced complementary protocols. Each clinic will have up to 20 IV stations and five wound care treatment rooms, generating up to $5-6 million in total revenues per location. Our goal is a 35% EBITDA within each clinic. Approximately 85% of services are reimbursed by third-party payors such as Medicare, Medicaid, and health insurance companies. Cash paid by the patients will represent 15% of gross income from operations.

THRV will start with the two Arizona clinics, one in Gilbert and the other in Show Low, AZ.

“We are excited to join the Thrive Precision team with the ability to build a national and potentially international platform for diabetes care,” says Dr. Jason Mulder, CEO of True Diabetes. “In Arizona alone, there are 600,0001 diabetics and an estimated 2 million pre-diabetics, and the caseload far exceeds the capacity to treat those affected. We want to help reverse the pre-diabetic condition before ulcers, amputation, and dialysis occur.”

Read Complete Release

9-8-23 Antibe Therapeutics, Inc. (OTCQX ATBPF)
Announces Results of 2023 Annual Meeting

TORONTO, September 08, 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, is pleased to announce the results of its annual meeting of shareholders (the “Meeting”) held earlier today. All resolutions outlined in the management information circular were approved. Detailed results for the election of directors are provided below:

Director NomineeOutcome% For% Withheld
Roderick FlowerElected90.77%9.23%
Robert E. HoffmanElected81.08%18.92%
Amal KhouriElected90.74%9.26%
Dan LegaultElected90.62%9.38%
Walt MacneeElected90.81%9.19%
Jennifer McNealeyElected80.31%19.69%
Yung WuElected90.80%9.20%

Voting results on all matters voted on at the Meeting have been filed on SEDAR.

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.”

Read Complete Release

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.”

Read Complete Release

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.

Read Complete Release

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.

Read Complete Release

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.

Read Complete Release

3-6-2023 International Food and Beverage (OTC IFBC)

See the latest investor package. Dino is really getting traction.

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10-24, 2023
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

Reviewing the 3rd Quarter While Looking Ahead to Year-End
October 17, 2023 by Herb Blank

The third quarter of 2023 is now history.  The September effect overwhelmed mildly positive returns in July and August to submerge all six benchmark indexes we monitor quarterly into the red.  Although the order of best to worst varies among the six indexes, one commonality is having September as the worst historical month, both in terms of magnitude and frequency.

Read complete report here
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Event Calendar Updates

The NIBA conference was a great success with a large number of attendees and a sold our presenters side.

Rocky Mountain Conference details available soon.

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