Steve Clark

Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.
Jaguar Health Inc. (NASDAQ:JAGX)

Jaguar Health Inc. (NASDAQ:JAGX) Reports Stellar Q3 Financial Results

Jaguar Health Inc. (NASDAQ:JAGX)

Jaguar Health Inc. (NASDAQ:JAGX) fell 2.7% after reporting its first quarterly financial results after merging with Napo Pharmaceuticals. The commercial stage natural-products pharmaceuticals company generated a net income of $4.75 million for the three months ended September 30, 2017.

Jaguar Health Inc. (NASDAQ:JAGX)

Jaguar’s Revenue Growth

Jaguar Health Inc. (NASDAQ:JAGX) is still trading in a downtrend despite posting stellar financial results for the third quarter. The stock has shed more than 50% in market value since the start of the year as short sellers continue to push the stock lower. It awaits to be seen, the kind of impact that the Napo Pharmaceuticals merger will have on investor sentiments in the stock heading into the year-end.

According to data compiled by Zacks Investment Research, despite the underperformance, Jaguar Health Inc. (NASDAQ:JAGX) is currently rated as a “Strong Buy” by two analysts.

Net revenue in the quarter came in at $1.1 million made up of $346,000 for Mytesi, $82,000 for Neonorm and approximately $655,000 in collaboration revenue. Total net revenue for the third quarter of 2016 was $50,000. Average sales of Mytesi have increased over 50% since August.

“With the onboarding of three additional HIV sales personnel this month, and the refilling rate of Mytesi® prescriptions for a chronic disease, we expect continued growth for future Mytesi® sales,” said Lisa Conte, Jaguar Health Inc. (NASDAQ:JAGX)’s president, and CEO.

Mytesi revenue continues to increase because of increased marketing, advertising, medical education and promotional activities. Mytesi is a prescription treatment for diarrhea that works by normalizing the flow of water in the GI tract. It is the only FDA approved antidiarrheal therapy for the symptomatic relief of non-infectious diarrhea in adult patients.

For the first nine months of the year, revenue increased to $2.8 million compared to $113,000 reported last year. Jaguar Health Inc. (NASDAQ:JAGX) expects further growth in revenue heading into the year-end due to an increase in human-product revenue.

HIV Scientific Advisory Board

Separately, Dr. Roscoe Moore has joined the HIV Scientific Advisory board recently formed by Jaguar Health Inc. (NASDAQ:JAGX)’s wholly owned subsidiary, Napo Pharmaceuticals. The board will focus on physician education and global awareness regarding the importance and availability of solutions for neglected comorbidities.

“Neglected comorbidities such as HIV-related diarrhea play a significant role in patient adherence to ART Efforts to expand awareness about available solutions, such as Mytesi®, that address specific comorbidities play an important role in maximizing health and wellness in this population,” said Dr. Moore.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) Reports Q3 Earnings

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) shares dropped over 7%, on heavy volume, after the biotech company reported their Q3 2017 financial results. EBIO shares opened at $0.74, then dropped to a low of $0.64 before closing at $0.69. At current levels, EBIO shares are trading below their published cash per share value of $0.71, and their book value per share figure of $1.05.

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) is a late-stage, clinical oncology company that develops therapies for cancer patients based upon the company’s proprietary targeted protein therapeutics (TPTs) platform. The company’s TPTs incorporate a tumor-targeting antibody fragment and a cytotoxic protein payload within a single protein molecule in order to achieve focused tumor cell killing. Eleven Biotherapeutics believes its TPT approach offers significant advantages in treating cancer over existing antibody drug conjugate technologies. Eleven Biotherapeutics promotes the idea that its TPTs provide effective tumor targeting with broader cancer cell-killing properties than generally achievable other treatments that require tumor cell proliferation to be effective and can face challenges overcoming multi-drug resistance mechanisms within tumor cells.

In November, Eleven Biotherapeutics Inc (NASDAQ:EBIO) completed a public offering of 5,525,000 shares of its common stock, pre-funded warrants to purchase an aggregate of 4,475,000 shares of common stock, and common warrants to purchase up to an aggregate of 10,000,000 shares of common stock, raising approximately $8.0 million in gross proceeds and $7.0 million in net proceeds.

Eleven Biotherapeutics Q3 Earnings

Eleven Biotherapeutics Inc (NASDAQ:EBIO) did not record any revenue for Q3 2017. In Q3 2016, the company reported revenue of $28.7 million. This difference was due to revenue recognized in 2016 from the company’s license agreement with Roche. Roche’s next licensing milestone payment will be triggered upon commencement of a Phase 2 clinical trial by Roche.

Net loss for Q3 2017 was (-$9.1) million, or (-$0.37) per share, versus net income of $19.5 million, or $0.95 per basic share and $0.91 per diluted share, for the same period in 2016. The change was primarily the result of revenue recognized in 2016 from the company’s license agreement with Roche.

Research and development expenses were $3.6 million, compared to $2.8 million for the same period in 2016. Cash and cash equivalents were $11.3 million.

EBIO Stock Performance

Per share earnings for the biotech company have been on an upward trend ever since 2013, when the company reported a loss of (-$16.19). Losses contracted annually and in 2016 a EPS profit of $0.01 was posted. Last year, due to the Roche licensing agreement, the company reported some sales of $30 million. A number that that could be considered “material” for the first time in its existence. However, the company has a consistent history of diluting shareholder equity. In 2013 the number of outstanding shares stood at 1.35 million, then continued to expand on an annual basis. In 2016 the company ended the year with 21.08 million shares outstanding.

For the year, EBIO shares have lost 70%, and, for the month, the shares have lost 45% in value. Despite performance that lags the markets, and its sector, EBIO shares are rated “Market Perform” and “Strong Buy” by the two investment firms that follow the company. Their consensus, one-year price target is $12.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

xG Technology Inc (NASDAQ:XGTI),

xG Technology Inc (NASDAQ:XGTI) Wins U.S. Army Contract, Shares Jump

xG Technology Inc (NASDAQ:XGTI)

xG Technology Inc (NASDAQ:XGTI) shares are up 5%, to $1.73, on heavy volume, after the wireless video technology company was awarded a $12.5 million contract by the U.S. Army. The contract includes hand-held equipment that displays real-time video imagery. The estimated completion date of for the supply of hand-held intelligence, surveillance, and reconnaissance receiver devices is September 24, 2020. This is the third similar contract awarded to the company by the U.S. Army in the last four years.

xG Technology Inc (NASDAQ:XGTI),

xG Technology’s brands provide wireless video solutions to broadcast, law enforcement, and defense markets, and private mobile broadband networks for use in difficult environments. xG’s stable of brands includes Integrated Microwave Technologies (IMT), Vislink, and xMax. IMT has pioneered advanced digital microwave systems and supplies its technology to the sports and entertainment broadcast industry and MAG (Military, Aerospace & Government) markets.

George Schmitt, Executive Chairman and CEO of xG Technology Inc (NASDAQ:XGTI), said, “We are honored to have been chosen by the U.S. Army to fulfill this important contract. It is a huge game changer that underscores our proven expertise in designing and delivering best-in-class wireless video communications solutions that enhance tactical insights. We will work closely with the Army to ensure they gain maximum effectiveness of our equipment in conducting their operations. We look forward to commencing product deliveries, and have already manufactured 50 units that are ready to ship as needed to our forces overseas.”

XGTI Stock Performance

xG Technology Inc (NASDAQ:XGTI) has a market capitalization of over 22.5 million and a stock float of just 12.8 million shares. There is a moderate short position held by traders that amounts to almost 12% of the total float. It has a book value per share of $2.46, so at current levels, XGTI is trading at a discount to that metric.

For the past year, XGTI stock has lost over 51%, however the shares are up 22% year-to-date, and up 7.8% for the past week. This past July, Maxim Group initiated coverage of the company and rated XGTI shares as a “Buy”. Prior to that rating, Roth Capital has, in January, raised the rating on XGTI shares from a “Neutral” to a “Buy”. Their consensus, one-year price target is $4.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $XGTI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Viva Entertainment Group Inc. (OTCMKTS:OTTV)

Viva Entertainment Group Inc. (OTCMKTS:OTTV) Eyes Latino Market

Viva Entertainment Group Inc. (OTCMKTS:OTTV)

Viva Entertainment Group Inc. (OTCMKTS:OTTV) shares gained 11.9% after the distributor of Over-The-Top IPTV content announced the signing of a 3-year license agreement with Oi2Go Media Technologies. Under the terms of the agreement, the company is to provide a mobile subscription app for streaming Latino content in the American market.

Viva Entertainment Group Inc. (OTCMKTS:OTTV)

Oi2Go Licensing Agreement

Viva Entertainment Group Inc. (OTCMKTS:OTTV) is to include its on-demand pay-per-view content library, content library, and subscription channels as part of the agreement. The license runs through 2020 and builds on a previously signed agreement for the formation of a joint venture with Oi2 Media.

“Since signing the original joint venture with Oi2 Media, we have been working with them to develop a content-rich platform for the Latino market. Being based out of South Florida, we are very familiar with the growing Latino market for streaming content,” said CEO Johnny Falcones.

Targeting the Hispanic and Latino market presents a unique opportunity for Viva Entertainment given that there are about 50 million customers that are reportedly not adequately served by the industry. The company’s library and live programming already boasts a large quantity of Latino content.

Viva Entertainment Group Inc. (OTCMKTS:OTTV) continues to trade in a range for the better part of the year. After failing to close above the $0.01 a share on two attempts, the stock continues to languish near all-time lows and in dire need of new catalysts if it is to bounce back.

Viva Entertainment Growth Prospects

The underperformance comes after the Chief Executive Officer reiterated that the company continues to enjoy accelerated growth.

“Viva Entertainment Group is pleased to report a significant revenue growth of 75% over the last three months and to assure shareholders that company has no intention of changing its share structure. Viva is executing my business plan and our recent progress validates all the steps we took for the past few years,” said Mr. Falcones.

Viva Entertainment Group Inc. (OTCMKTS:OTTV) is in the process of finishing the integration of a movie library that will come with 8,000 titles. Leveraging brand ambassadors with big name recognition is also on the agenda as the company tries to enhance the library’s popularity. The Company also plans to finalize the development of Opera System for Smart TVs.

Plans are underway to start nationwide advertising campaign designed to generate subscription sales for the company. Viva Entertainment Group Inc. (OTCMKTS:OTTV) is also eyeing deal with a renowned marketing campaign on a multiyear deal basis.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $OTTV and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

SenesTech Inc. (NASDAQ:SNES)

SenesTech Inc. (NASDAQ:SNES) Drops After Pricing Public Offering

SenesTech Inc. (NASDAQ:SNES)

SenesTech Inc. (NASDAQ:SNES) felt the wrath of Wall Street after pricing an initial public offering of its common shares at a discount. Shares of the company fell 36.7% in Friday’s trading session to end the week at $0.86 a share.

SenesTech Inc. (NASDAQ:SNES)

SNES Public Offering

The sell-off follows the pricing of 5.4 million shares of common stock at $1 a share. The developer of proprietary technologies for managing animal pest populations has also granted underwriters warrants for the purchase of an additional 4 million shares. The warrants are priced at $1.50 a share.

SenesTech Inc. (NASDAQ:SNES) expects gross proceeds of $5.4 million from the offering before deduction of underwriting discounts, commissions, and other estimated offerings. The offering should close on or about November 21, 2017.

“SenesTech intends to use the net proceeds from the offering for working capital and general corporate purposes, including those related to the commercialization of ContraPest,” SenesTech In a statement.

The pricing of the offering at a discount appears to have spooked investors seen by the stock plunging to a new 52-week low of $0.86 a share. SenesTech is currently trading in a downtrend after underperforming the overall industry. The stock is down by more than 80% for the year as it continues to record lower lows.

SenesTech Widening Net Loss

The pricing of the public offering comes just days after SenesTech Inc. (NASDAQ:SNES) reported disappointing financial results for the third quarter. A wider than expected net loss of (-$2.9) million or (-$0.28) a share compared to a net loss of (-$2.7) million reported last year did not go well with investors.

Operating expenses in the quarter increased to $3 million from $2.8 million attributed to the expansion of product commercialization activities. SenesTech generated revenues of $17,000 in the quarter. The company has signed long-term sales commitments that have the potential to generate over $200,000 and an additional $250,000 of proposals outstanding.

SenesTech Inc. (NASDAQ:SNES) also has an ongoing pilot program with total sales opportunities of $2.4 million on full deployment. The company has also signed two national distribution agreement with Univar and Target specialty products

“These agreements will accelerate our introduction to the professional pest control market. We will be working to fill their initial stocking orders, and providing training and materials to their sales forces. Additionally, we have seen the sales funnel filling up in a variety of segments and markets, although the purchase decision cycle is slower than we expected,” said CEO, Loretta Mayer.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $SNES and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Real Industry Inc (NASDAQ:RELY) Files for Bankruptcy Protection

Real Industry Inc (NASDAQ:RELY)

Real Industry Inc (NASDAQ:RELY) voluntarily filed for Chapter 11 bankruptcy protection, sending its stock down over 45% less than a week after the stock lost over 60% in a single day. RELY shares are currently trading around $0.30 on volume over ten times the daily average.

Real Industry Inc (NASDAQ:RELY)ban

Real Industries Bankruptcy

Real Industry Inc (NASDAQ:RELY) U.S. operations have experienced a loss of liquidity during the past year. This was mostly due to the lack of acceptable credit terms which would have enabled the company to refinance its $305 million 10% senior secured notes due January 2019. The Chapter 11 with enhanced liquidity in the form of Debtor-in-possession (DIP) financing which will include the continued use of the company’s $110 million asset-based lending facility, and up to $85 million in incremental liquidity provided by certain holders of the Senior Secured Notes.

The DIP financing also includes the conversion of $170 million of Senior Secured Notes into new notes. Subject to court approval, this DIP financing combined with funds generated from ongoing operations will be used to support Real Alloy’s normal operations during the reorganization effort under Chapter 11. Real Industry Inc (NASDAQ:RELY) has filed the customary motions in order to make operating payments during the Chapter 11 proceedings and expects to receive such approval shortly.

[Note: Not included in the Chapter 11 filings are Real Alloy’s operations in Germany, United Kingdom, Norway, Canada, and Mexico and its Goodyear, Ariz. joint venture.]

Sherman Oaks, CA-based Real Industry Inc (NASDAQ:RELY) is a holding company that seeks to create a sustainably profitable business acquiring companies that meet strict metrics with regards to value and structure. Our business strategy also seeks to take advantage of Real Industry’s U.S. federal net operating loss tax carryforwards of $916 million.

The company, through its subsidiaries, is involved in aluminum melting, processing, recycling, and alloying activities in the United States and internationally. The company operates in two segments, Real Alloy North America and Real Alloy Europe. It processes scrap aluminum and by-products. It manufactures wrought, cast, and specification or foundry alloys.

RELY Stock Performance

Real Industry Inc (NASDAQ:RELY) reported sales of $1.25 Billion for 2016. However, the company has a market capitalization of less than $20 million. Earnings have been negative since 2012 when the company posted a per share loss of (-$0.34). By 2016, that loss had grown to (-$3.71).

In mid-2016, RELY shares were hitting resistance at $9. A steady slide in the share price ensued and by August shares were meeting support around $1.75. Year-to-date, RELY stock has lost over 90% of its value. In the past week it has lost over 70% of its value.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $RELY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Micronet Enertec Technologies Inc (NASDAQ:MICT)

$1.9 million Order Boosts Micronet Enertec Technologies Inc (NASDAQ:MICT)

Micronet Enertec Technologies Inc (NASDAQ:MICT)

Micronet Enertec Technologies Inc (NASDAQ:MICT) shares are up over 20%, to $0.94, on massive volume. The catalyst for the unusual activity is the company’s announcement that it received a $1.9 million order. The move also comes one day after the technology company filed with the SEC regarding an increase to the company’s share compensation plan, investors have rushed into the stock and sent its volume to over 100 times the daily average.

https://finance.google.com/finance?q=mict&ei=LgQPWoDrBoi_jAGb4buYBg

Micronet Order

Micronet Inc., has received a purchase order from a current customer, valued at $1,900,000 for its TREQ®-317. In the last seven months Micronet Enertec Technologies Inc (NASDAQ:MICT) has received orders of over $14 million for Micronet’s technological solutions for the telematics and the electronic logging device (ELD) market.

David Lucatz, Chief Executive Officer of Micronet Enertec Technologies, Inc. stated in a press release “We are very pleased to continue working with our valued customers. We believe that new orders from current customers are a clear indication of the value our products deliver in the MRM space. We believe that the continued and increasing demand for our advanced Android based computing systems supports Micronet in expanding its product offerings and becoming a leading provider in the rapidly expanding MRM/telematics market.”

Micronet Shareholder’s Meeting

Micronet Enertec Technologies Inc (NASDAQ:MICT) held its 2017 Annual Meeting of Stockholders on November 15, 2017. At the meeting, the MICT stockholders approved an amendment to the Company’s 2014 Stock Incentive Plan, increasing the number of common shares from 100,000 to 200,000. Also amended was the company’s 2012 Stock Incentive Plan. The amendment increased the number of outstanding common shares from 1,000,000 to 3,000,000.

Micronet Enertec Technologies Inc (NASDAQ:MICT) operates through two companies in Israel. Enertec Systems 2001 Ltd, its subsidiary, and Micronet Ltd. Micronet Ltd develops, manufactures, and markets laptops, tablets, and rugged computers to the commercial, defense and aerospace markets.  Micronet also operates in the commercial mobile resource management market. Enertec is in the defense and aerospace markets. Enertec designs, develops and manufactures computer based instruments.

MICT Stock Performance

Shares of Micronet Enertec Technologies Inc (NASDAQ:MICT) have lost over 40% for the year. Investors have had to endure declining sales combined with expanding per share losses.

In 2013, sales were $35.6 million but that number was just $$22.7 million by 2016. In 2012, the company’s EPS was $1.67. That profit changed to a loss (-$0.10) the following year and the annual losses expanded each year. By 2016, Micronet Enertec Technologies Inc (NASDAQ:MICT) posted a per share loss of (-$0.97).

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $MICT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

AURORA CANNABIS IN (OTCMKTS:ACBFF)

Debt Conversion By AURORA CANNABIS IN (OTCMKTS:ACBFF) Brings Sellers

AURORA CANNABIS IN (OTCMKTS:ACBFF)

AURORA CANNABIS IN (OTCMKTS:ACBFF) has announced the conversion into common shares of the outstanding amount with regards to the remaining debentures and this will be effective next month. In absolute terms debentures outstanding which are valued at $73,593,000 will be converted into common shares numbering 22,368,693. After the announcement shares of Aurora Cannabis Inc fell by 13%.

AURORA CANNABIS IN (OTCMKTS:ACBFF)

According to the chief executive officer of AURORA CANNABIS IN (OTCMKTS:ACBFF), Terry Booth, the move will strengthen the company’s financial position allow it to execute an aggressive global expansion strategy.

“This conversion reflects our exceptional execution … We will be generating over $5 million in interest savings on an annual basis, while removing nearly $75 million in liabilities from our balance sheet,” Booth said.

Annual General Meeting

The announcement comes in the wake of Aurora releasing the voting results following the 2017 annual general meeting which was held on November 13 in Edmonton, Canada. During the AGM shareholders approved the matters that were contained in Aurora’s Management Information Circular – issued on October 6. Additionally, the shareholders approved MNP LLP being reappointed as the company’s auditors for the coming year.

During the AGM new directors were voted onto Aurora’s Board of Directors. The appointments include Diane Jang who also serves as the Chief Executive Officer of Hempco Food and Fiber. Jang has close to three decades worth of experience in the consumer-packaged goods sector. Before joining Hempco as the CEO, Jang was the president of Sunrise Soya Foods as well as the general manager of Earth’s Own Food.

Aurora’s Shareholders Meeting

AURORA CANNABIS IN (OTCMKTS:ACBFF) recently made an investment in Hempco which was approved by shareholders in a special meeting. After the investment, Aurora’s shareholding in Hempco will rise to more than 50%.

AURORA CANNABIS IN (OTCMKTS:ACBFF)’s AGM had been preceded by the release of Q1 2018 financial results. In the report Aurora indicated that the company now has more than 20,000 registered patients who are active. Revenues for the quarter increased by 169% year-over-year to reach a figure of $8.2 million. Revenues rose 39% compared to the previous quarter. Most of the revenue was generated in Canada with North American dried cannabis sales comprising more than half of the total sales.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ACBFF and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Spi Energy Co Ltd (ADR) (NASDAQ:SPI)

Spi Energy Co Ltd (ADR) (NASDAQ:SPI) Sells Solar Plant, Buys 3 Plants

Spi Energy Co Ltd (ADR) (NASDAQ:SPI)

Spi Energy Co Ltd (ADR) (NASDAQ:SPI) gained 3.57% after announcing the completion, successful grid-connection, and sale of ‘Shibayama 1’ solar plant east of Tokyo. The 2.4MW plant, with an estimated 3,100,000kWh of annual production, is among 4.8 MW plants under construction by Kyocera.

Spi Energy Co Ltd (ADR) (NASDAQ:SPI)

In September, Spi Energy Co Ltd (ADR) (NASDAQ:SPI), through its subsidiary SP Orange Power Cyprus Limited, entered into a framework purchase agreement. Pursuant to the agreement, the company is to acquire 100% interests in three Greek companies, namely THERMI SUN S.A, HELIOHRISI S.A. and HELIOSTIXIO S.A., from THERMI TANEO Venture Capital Fund (“TTVCF”) for €16.65 million.

The three companies own four PC plants with 7.4MW Photovoltaic installations in Greece. With the acquisitions, Spi Energy Co Ltd (ADR) (NASDAQ:SPI) should become one of the biggest Photovoltaic solution provider in Greece. The transaction is to close in three stages pending completion by March 2019.

Spi Energy Co Ltd (ADR) (NASDAQ:SPI) is still trading in a downtrend and close to its 52-week low of $0.83 a share. The stock has underperformed the overall industry for the better part of the year, having shed more than 80% of market value.

10-for-1 Share Consolidation

Separately, Spi Energy Co Ltd (ADR) (NASDAQ:SPI) has completed a 10-for-1 share consolidation following approval by shareholders at an extraordinary general meeting. Each 10 pre-consolidation ordinary shares outstanding were automatically combined into one share of the company.

The 10-for 1 share consolidation is poised to reduce SPI Energy shares to 5 billion with the number of issued and outstanding shares set to reduce from 725 million to 72 million.

In addition, Spi Energy Co Ltd (ADR) (NASDAQ:SPI) entered into share purchase agreement with Qian Kun Prosperous Times Investment Limited and Alpha Assai fund SP OF Sunrise SPC last month. Pursuant to the agreement, the global provider of photovoltaic solutions for businesses and residential is to issue a total of 80 million ordinary shares to Qian Kun and 240 million to Alpha Assai.

The company expects gross proceeds of $33. 9 million from the two offerings subject to the terms of conditions of the respective share purchase agreements

Spi Energy Co Ltd (ADR) (NASDAQ:SPI) has confirmed the resignation of Roger Dejun as a director of the board.

“We would like to thank Mr. Roger Ye for his dedication and contributions to the Company and we are grateful for his support and cooperation during his tenure as a valued board member and wish him well in his future endeavors,” said Xiao Feng Peng, Chairman and CEO of SPI Energy.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $SPI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Avid Technology, Inc. (NASDAQ:AVID)

Avid Technology, Inc. (NASDAQ:AVID) Unveils New Video-over-IP Interface

Avid Technology, Inc. (NASDAQ:AVID)

Shares of Avid Technology, Inc. (NASDAQ:AVID) gained 14.74% after the global media technology provider unveiled its latest addition to the Avid I/O family of hardware interfaces. Avid Artist DNxIP is the new Thunderbolt 3 equipped I/O device, designed to enable the transfer of SMPTE standard HD video over 10GigE IP networks.

Avid Technology, Inc. (NASDAQ:AVID)

Avid Artist DNxIP

Built in partnership with AJA and powered by MediaCentral, Avid Artist DNxIP should eliminate the challenges of managing physical resources commonly associated with legacy video routing. It should also give customers more flexibility in the way they route video within their facilities.

“DNxIP is the next evolution of our development efforts with Avid, a trusted technology partner. We’re excited to be teaming up with them again on a next-generation hardware option that meets the needs of professional IP workflows,” said Nick Rashby, President, and AJA Video Systems.

Avid Technology, Inc. (NASDAQ:AVID) has received a lot of attention due to the recent volatility of its stock. AVID stock is currently trading in an uptrend after gaining more than 40% in market value since the start of the month. For the full year, the stock is up by more than 30%.

Stellar Q3 Results

Renewed investor interest in the stock follows the announcement of better than expected third quarter financial results. Avid Technology, Inc. (NASDAQ:AVID) exceeded guidance on revenue and bookings in the recent quarter as it recorded growth in key metrics. Improvement in adjusted EBITDA drove the company to the fourth consecutive quarter of positive adjusted cash flow.

Avid Technology reported a net income of $72,000 for the third quarter as revenue came in at $105.3 million, above the upper-end of guidance. During the quarter, the company signed several multiyear deals that are expected to lead to further revenue growth in the fourth quarter.

For the fourth quarter, Avid Technology, Inc. (NASDAQ:AVID) expects bookings of between $112 million and $126 million and revenues of between $103 million and $113 million.

“The completion of the transformation in the second quarter of 2017 has positioned us to drive profitable growth, increase revenue visibility and cash flow. In the third quarter, we achieved meaningful growth across bookings, revenue excluding pre-2011 and eliminating PCS, adjusted EBITDA and adjusted free cash flow,” said CEO, Louis Hernandez.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.