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.
Shineco Inc (NASDAQ:TYHT)

Can Shineco Inc (NASDAQ:TYHT) Sustain Trend?

Shineco Inc (NASDAQ:TYHT)

After three attempts in the last six weeks to close above $3.50, Shineco Inc (NASDAQ:TYHT) shares closed up over 30%, on heavy volume, and closed at $3.64. Investors flocked to the China-based producer foe heal and well-being products after the company announced its subsidiary, Tianjin Tajit E-Commerce Ltd., obtained contractual rights to distribute branded products of Daiso Industries Co. Ltd, a large franchise of 100-yen shops founded in Japan, via JD.com – the largest e-commerce company and retailer in China. Daiso Industries Co., Ltd. operates home center chains throughout the world.

Shineco Inc (NASDAQ:TYHT)

Shineco Deal

Shineco Inc (NASDAQ:TYHT) is now authorized to distribute Daiso’s branded products and use its brand names in connection with Tianjin Tajit E-Commerce Ltd in China. The allows Shineco to access JD’s massive online customer base for business development in China. JD will leverage Shineco’s business expertise, and Shineco will serve as JD’s authorized vendor for providing its customers with access to a wide range of products of Daiso.

Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco Inc (NASDAQ:TYHT), stated, “We are excited about teaming up with China’s e-commerce giant JD and Japan’s retail giant Daiso, and the potential market that new relationship can bring to our business. JD’s vast online retail channel will enable us to distribute Daiso’s products in a more efficient and economical manner to meet the growing consumer demand in China, which further drives the Company’s fast expansion in e-commerce, enhances the influence of the Company and builds up the brand awareness of Shineco.”

TYHT Stock Analysis

In mid-August, Shineco Inc (NASDAQ:TYHT) stock established a new 52-week low of $1.72. However, two weeks ago the stock began a strong uptrend and has closed higher every day since. Friday’s price action was remarkable. TYHT stock had closed on Thursday at $2.78, then gapped up on the news to open Friday’s session at $2.86 before hitting an inter-day high of $4.38. That upward move was accompanied by strong volumes that were over 64 times the listed 30-day, daily average.

Earnings per share, sales, and the number of outstanding shares have all been largely consistent over the past five years. One thing that does stand out is the fact that the stock has a float of only 13.87 million shares. That low float level could serve as a catalyst for any future moves, up or down, as traders seek to capitalize on the expanding Asian healthcare markets.

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 $TYHT 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.

Torchlight Energy Resources Inc (NASDAQ:TRCH)

Oil Price Bring Traders to Torchlight Energy Resources Inc (NASDAQ:TRCH)

Torchlight Energy Resources Inc (NASDAQ:TRCH)

Torchlight Energy Resources Inc (NASDAQ:TRCH) shares are up over 7% to $1.49, and trading on a volume that is over 11 times their 30-day, daily average. Shares may be moving higher on the news from the European oil markets that the price of crude oil is rising in an environment where additional production is far from a certainty.

Ten-day chart for TRCH stock:

Torchlight Energy Resources Inc (NASDAQ:TRCH)

Plano, TX-based Torchlight Energy Resources Inc (NASDAQ:TRCH) is a high-growth oil and gas exploration and production (E&P) company with a focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where the company targets established plays such as West Texas’ Permian Basin and Eagle Ford Shale.

On October 18, Torchlight Energy Resources Inc (NASDAQ:TRCH) provided an update to the flowback process underway on its Flying B Ranch #3H well. At that time, the company said it was producing ~2500 barrels of fluid per day and experiencing increasing oil cuts and gas production. Most recent measurements reflected an oil cut of roughly 6% reaching ~150 BO/d and 30 MCF/d.

TRCH Stock Performance

TRCH shares have done well this year – up over 36%. However, this week alone the shares have skyrocketed and are up over 27%. That move pushed their Relative Strength Index (RSI) figure above 70 to 75. Accordingly, they are now trading in an area (above 70) that many traders consider to be in “overbought” condition, but given the recent upward trajectory in global oil prices, more may be left to the upside for this energy stock.

As demonstrated by the increase in share volume, traders may be moving quickly in this stock to capture any quick moves. Long-term investors have been rewarded but they also are skittish of the fact that Torchlight Energy Resources Inc (NASDAQ:TRCH) had increasing per share losses from 2012 through 2015 when the company posted a loss of (-$1.56) per share. That loss shrank to (-$0.18) for 2016. Another area of concern for long-term holders is the shareholder’s equity dilution. In 2014 15.73 million TRCH shares were outstanding. That number increased almost three-fold by the end of 2016 to 43.12 million.

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 $SMIT 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.

MediciNova, Inc. (NASDAQ:MNOV)

MediciNova, Inc. (NASDAQ:MNOV) Reports Topline Results

MediciNova, Inc. (NASDAQ:MNOV)

MediciNova, Inc. (NASDAQ:MNOV) shares fell 2.76% after the biopharmaceutical company reported topline results from its SPRINT-MS Phase 2B trials which investigated MN-166 for the treatment of multiple sclerosis. The lead drug candidate achieved its primary endpoints by demonstrating statistically significant reduction in the rate of progression in brain atrophy when compared to a placebo.

MediciNova, Inc. (NASDAQ:MNOV)

MN-166 Topline Results

The topline clinical trial results will be presented at the 7th Joint ECTRIMS*-ACTRIMS** Meeting in Paris on October 28, 2017, by Dr. Robert Fox, Staff Neurologist at the Cleveland Clinic.

Dr. Robert Fox commented, “This is an encouraging step forward in the development of treatments for progressive MS, which has historically been very difficult to treat.” Yuichi Iwaki, MD, Ph.D., President and Chief Executive Officer of MediciNova, Inc. commented, “This is a major epoch for patients. We will coordinate the next plan to complete our mission.”

MediciNova, Inc. (NASDAQ:MNOV) is currently trading in an uptrend after bouncing from its August lows of $4.40 a share. However, the stock has come under pressure in recent trading sessions after recording a new 52-week high of $7.85 a share. It faces immediate resistance at the $6.90 mark above which it could make a push for the 52-week high. The stock is currently rated as a strong buy by one analyst firm according to data compiled by Zacks Investment Research.

MediciNova Pipeline

MediciNova, Inc. (NASDAQ:MNOV) lead candidate drug MN-166 is an orally bioavailable, small-molecule phosphodiesterase designed to suppress pro-inflammatory cytokines to promote neurotrophic factors. The company acquired it from Kyori pharmaceuticals having been marketed in Japan and Korea since 1989.

MediciNova, Inc. (NASDAQ:MNOV) is currently focusing on MN-166 for the treatment of neurological disorders such as progressive MSM ALS and substance abuse. The company has completed the enrollment of patients in a Phase 2 clinical trial of MN166 in Methamphetamine Dependence.

“We are pleased that enrollment is now completed in the first study to evaluate MN-166’s (ibudilast) potential clinical utility for methamphetamine dependence. We look forward to the final results of the study which we expect by the first quarter of 2018,” said Mr. Iwaki

The company’s pipeline also includes MN-221 for the treatment of acute exacerbations of asthma and MN-029 for solid tumor cancers. MediciNova, Inc. (NASDAQ:MNOV) is currently engaged in strategic partnerships and other potential funding discussions to support the development of its clinical programs.

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 MNOV 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.

Neos Therapeutics Inc (NASDAQ:NEOS)

Neos Therapeutics Inc (NASDAQ:NEOS) Shares Rocket on Acquisition Offer

Neos Therapeutics Inc (NASDAQ:NEOS)

Neos Therapeutics Inc (NASDAQ:NEOS) stock boomed today after the company revealed that they are reviewing an unsolicited proposal to acquire the Texas-based drug company. NEOS stock ended yesterday at $7.30, then gapped up to open at $9.50 before hitting an inter-day high of $10.90 on a volume figure that was ten times the average. With two hours left in the trading day, NEOS shares are trading around the $10 handle.

Neos Therapeutics Inc (NASDAQ:NEOS)

Acquisition history

The current acquisition proposal is from PDL BioPharma Inc (NASDAQ:PDLI). On June 23, 2017 PDL made an offer to acquire Neos Therapeutics for $10.25 per share in cash. That offer was studied and subsequently rejected by the Neos Board of Directors. The, on July 31, 2017, PDL Biopharma made another unsolicited acquisition offer at the same price.  Following the second offer, Neos entered into a confidentiality agreement with PDL to facilitate discussions. Following these discussions, PDL again made a proposal to acquire Neos for $10.25 per share, in cash. At that time, PDL Biopharma acknowledged that Neos Therapeutics Inc (NASDAQ:NEOS) was likely more valuable than the offer price. In deciding to recommend a rejection of the PDL offer at $10.25 per share, the Neos Board considered the successful path the company is taking in executing its strategy.

NEOS Stock Performance

Shares of Neos Therapeutics Inc (NASDAQ:NEOS) have done well without the acquisition offerings. YTD, NEOS stock is up 25%, and is up over 12% for the quarter. Prior to today’s action, NEOS stock had a 52-week high of $9.60 and a 52-week low of $4.85.

Sales have improved considerably over the past three years. In 2014, the company reported $800,000 in sales which was followed by $3.8 million in 2015, and $9.2 million for 2016. Unfortunately, losses have been a noted area of concern among investors. In 2014, NEOS shares lost (-$1.76), followed by a per share loss of (-$2.07), and a larger loss of (-$5.19) for 2016.

Three investment firms follow Neos Therapeutics Inc (NASDAQ:NEOS). One rates NEOS stock as a “Strong Buy” one rates the shares a “Buy” and one rates the shares a “Hold”.

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 $NEOS 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.

Cumulus Media Inc (NASDAQ:CMLS)

Cumulus Media Inc (NASDAQ:CMLS) Broadcasts Good News

Cumulus Media Inc (NASDAQ:CMLS)

Cumulus Media Inc (NASDAQ:CMLS) stock doubled in value earlier today and is currently up over 80% on historically high volumes. The massive movement to the upside came after the media company released preliminary operating results to the public that beat Wall St expectations.

Cumulus Media Inc (NASDAQ:CMLS)

Cumulus Media Inc (NASDAQ:CMLS), headquartered in Atlanta, GA, owns and operates radio stations in the United States. The company operates under two brands, Radio Station Group and Westwood One. Revenues are generated through the sale of commercial advertising time to local, regional, and national advertisers as well as network advertising. Cumulus creates and broadcasts content through approximately 445 owned-and-operated stations in 90 United States media market. The company also has approximately 8,200 broadcast radio affiliates and various digital channels.

Quarterly Results

Cumulus Media Inc (NASDAQ:CMLS) will issue a press release reporting its third quarter 2017 operating results at approximately 7:30 AM EST on Thursday, November 9th. However, the company expects to report net revenue in a range of $286.0 million to $288.0 million, net (loss) income in a range of $(0.3) million to $1.7 million, and Adjusted EBITDA in a range of $60.0 million to $62.0 million.

Mary Berner, President and Chief Executive Officer of Cumulus Media Inc (NASDAQ:CMLS), said, “The strong preliminary results for the third quarter provide further evidence that our turnaround plan is taking hold. We are encouraged by our continuing operating and financial momentum in the face of negative industry trends.”

Ms. Berner followed that positive statement with a more cautious tone when she stated “While the Company has ample cash to operate our business, Cumulus continues to be constrained by an excessive debt load. With the assistance of outside advisors, we are proactively exploring a range of alternatives with our lenders and noteholders to restructure the balance sheet and reduce debt.”

CMLS Shares

Cumulus Media Inc (NASDAQ:CMLS) shares have been under pressure this year having lost over 80% of their value. While today’s preliminary numbers have been well received, cautious investors note that sales have been relatively flat. In 2014 the company posted sales of $1.26 Billion, followed by $1.17 Billion for 2015, and in 2016 the company posted $1.14 Billion in sales.

Shareholder losses have been substantial as well. In 2015 the per share loss was (-$18.37). That loss marginally improved in 2016 when the company lost (-$17.45) per share. The lone firm that covers CMLS shares rates them as a “Hold”.

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 $CMLS 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.

Capricor Therapeutics Inc. (NASDAQ:CAPR)

Capricor Therapeutics Inc. (NASDAQ:CAPR) Spikes on Trial Expectations

Capricor Therapeutics Inc. (NASDAQ:CAPR)

Capricor Therapeutics Inc. (NASDAQ:CAPR) shares gained 9.09% after the clinical stage biotechnology company said it will make a presentation at the upcoming American Heart Association Scientific Sessions 2017 conference. The company is to present data from its HOPE-1 clinical trial, investigating CAP-1002 for the treatment of Duchenne Muscular Dystrophy in boys and young men.

Capricor Therapeutics Inc. (NASDAQ:CAPR)

Hope 1 Trial

The announcement appears to have triggered renewed interest in Capricor Therapeutics. The stock has been under pressure in recent trading sessions, after rising to multi-year highs of $3.50 a share. It is currently down by more than 10% for the year.

CAP-1002 is the company’s lead investigational product made up of allogeneic cardiosphere-derived cells. Capricor Therapeutics Inc. (NASDAQ:CAPR) has already reported meaningful improvements in cardiac and skeletal muscle function, on a six-month analysis of HOPE-1 trial.

“We look forward to sharing these new data at one of the world’s premier cardiovascular conferences and continuing our clinical development of CAP-1002 for the treatment of Duchenne muscular dystrophy,” said Linda Marbán, Ph.D., Capricor president, and CEO.

Capricor Therapeutics Inc. (NASDAQ:CAPR) plans to initiate patient enrollment for a randomized double-blind placebo-controlled HOPE-2 clinical trial, subject to regulatory approval. The trial will build on HOPE-1 trials that showed teens and young men in advanced stages of DMD experiencing meaningful improvements in cardiac and limb functions after a single dose of CAP-1002.

Duchenne muscular dystrophy is a devastating genetic disorder that results in muscle degeneration. The condition affects approximately 15,000 to 20,000 boys in the US and occurs in every 3,600 live male births across all races, cultures and countries. The medical condition leads to death before the age of 30.

Q2 Financial Results

Separately, Capricor Therapeutics Inc. (NASDAQ:CAPR) reported a net loss of (-$3.5) million or (-$0.16) per share for the second quarter, compared to a net loss of (-$4.7) million reported last year. The biotechnology company generated revenues of $996,000 for the quarter.

Capricor Therapeutics Inc. (NASDAQ:CAPR) exited the quarter with cash and cash equivalent of $12.3 million, compared to $16.2 million as of December 31, 2016. According to the company, the cash balance is sufficient to fund operations and meet all the company’s financial obligations through the second quarter of 2018.

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 $CAPR 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.

Rennova Health Inc (OTCMKTS:RNVA)

Dive Continues for Rennova Health Inc (OTCMKTS:RNVA)

Rennova Health Inc (OTCMKTS:RNVA)

Shares of West Palm Beach, FL-based Rennova Health Inc (OTCMKTS:RNVA) continue to open down every day, then trade in a narrow daily range. Today RNVA shares lost over 32% to end the day at $0.40 on heavy volume.

 

In early September, shares of RNVA were still trading around $4, then a slide started. Shareholders have experienced just five days of gains since then. The shares are down over 99% for the year and a whopping 67% for the week.

On October 19, 2017, Rennova Health Inc (OTCMKTS:RNVA) announced that Big South Fork Medical Center was found to be in compliance with the requirements of the NIAHO Hospital Accreditation Program, and has been awarded full accreditation for a three year term effective as of October 11, 2017. Despite the news, and rather remarkably, RNVA shares dropped almost 20% the day this news was released to the market.

Interestingly, the last day the shares experienced a daily gain was after the CEO, Seamus Lagan, issued a letter to the shareholders stating that “… as part of our plan to regain compliance with NASDAQ’s stockholders’ equity continued-listing requirement, in the near future Rennova intends to spin-off to its stockholders our genetic testing division, Advanced Molecular Services Group, Inc. (AMSG), and our IT and Software division, Health Technology Solutions, Inc. (HTS).” That division had received over $20 million in investments from the company and, as of today, the entire worth of Rennova Health Inc (OTCMKTS:RNVA) is less than $700,000.

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 $RNVA 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.

LightPath Technologies, Inc. (NASDAQ:LPTH)

LightPath Technologies, Inc. (NASDAQ:LPTH) Hits 52-Week High

LightPath Technologies, Inc. (NASDAQ:LPTH)

LightPath Technologies, Inc. (NASDAQ:LPTH) spent the summer trading between $2.40 and $2.80 but since then the stock has had a definite upward trajectory. Today LPTH stock ended up almost 15% on a volume number that was over 25 times the daily average. Additionally, the heavy volume accompanied a new 52-week high of $3.41. A new high brought on by heavy volume is often believed to be a bullish signal on a stock.

LightPath Technologies, Inc. (NASDAQ:LPTH)

Orlando, FL-based LightPath Technologies, Inc. (NASDAQ:LPTH) is a vertically integrated provider of optics, photonics and infrared solutions for the global industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes proprietary optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM® lenses. LightPath also offers custom optical assemblies, including full engineering design support.

LPTH Stock Analysis

Shareholders of LightPath Technologies, Inc. (NASDAQ:LPTH) have had reason to celebrate. Year-to-date, LPTH shares have more than doubled. This past week alone has seen a gain of over 16%. This high level of performance is also reflected in the stock’s Relative Strength Index figure of 79. Many investors and traders believe a figure over 70 reflects an “overbought” condition in a security.

In 2015, LightPath posted a per share loss of ($0.05) but followed that in 2016 with a profit of ($0.09) per share, and profit of ($0.39) in FY2017. Sales have followed a similar path. For 2014, LightPath Technologies, Inc. (NASDAQ:LPTH) reported sales of $11.8 million. That number increased every year and in FY2017 the number was $28.4 million.

Two investment firms follow LightPath Technologies, Inc. (NASDAQ:LPTH). One rates LPTH stock as a “Strong Buy”, while the other one rates the shares as a “Buy”.

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 $LPTH 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.

Amedica Corporation (NASDAQ:AMDA)

Amedica Corporation (NASDAQ:AMDA) Rebounding?

Amedica Corporation (NASDAQ:AMDA)

Amedica Corporation (NASDAQ:AMDA) stock closed yesterday at $0.38, then rocketed up today to reach a high of $0.58 before retracing the upward move and closing at $0.48. Volume was heavy for the medical device company – over 15.5 million shares traded hands for a company that has a daily average volume of less than 300,000.

Amedica Corporation (NASDAQ:AMDA)

Amedica Corp Overview

Amedica Corporation (NASDAQ:AMDA), based in Salt Lake City, UT, develops and markets spinal fusion products for biomedical applications, such as wear- and corrosion-resistant hip and knee bearings, and dental implants. Amedica’s products are manufactured in its ISO 13485 certified manufacturing facility, and it has a partnership with Kyocera, one of the world’s largest ceramic manufacturers. Amedica’s FDA-cleared and CE-marked spine products are currently marketed globally through its distributor network, and OEM and private label partnerships.

On October 23, AMDA shares began the recent upward move after the company announced it would be making key podium presentations at the annual meeting of the North American Spine Society (NASS) from October 25th until the 27th, 2017, in Orlando, FL. At the 2017 NASS annual meeting spine care professionals from around the globe will share information on the latest innovative techniques, procedures, best practices, and new technologies.

AMDA Stock Performance

AMDA stock peeked above $0.50 today for the first time since January. While the shares are down for the year by over 37%, they have gained over 60% over the past month. Current levels are almost double their 52-week ow, but well off their 52-week high of $1.09.

Sales have been declining consistently over the past three years. In 2014, Amedica Corporation (NASDAQ:AMDA) reported $22.8 million in sales followed by $19.5 million in 2015, and $15.2 million in 2016. Shareholder losses have improved each year though – for 2016, the per share loss was (-$1.24), preceded by (-$5.50) in 2015, and (-$39.93) in 2014.

The lobe investment form that follows Amedica Corporation (NASDAQ:AMDA) rates the shares as a “Strong Buy”.

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 $AMDA 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.

MagneGas Corporation (NASDAQ:MNGA) Unveils 4th Generation System

MagneGas Corporation (NASDAQ:MNGA)

MagneGas Corporation (NASDAQ:MNGA) gained 0.11% after announcing the completion of a design process, to prototype a revolutionary gasification system with multi-fuel capability. The new system will reportedly put the company ahead of other gasification technologies.

MagneGas Corporation (NASDAQ:MNGA)

4th Generation Gasification System

The new system is designed to enable the gasification of any liquid or powderized material at higher rates of efficiency than other systems in the market. MagneGas Corporation (NASDAQ:MNGA) is projecting up to 75% reduction in power consumption with the new system which should lead to an increased production rate of over 500% at 300Kw of power.

MagneGas Corporation (NASDAQ:MNGA)’s 4th generation gasification system will reduce total production cost by at least 50%, making MagneGas2 more cost effective than acetylene. Its pricing should also give it a competitive edge in the market, allowing it to gain a significant amount of market share in the global cutting fuel market.

“This new technology is four years in the making, and our engineering team has worked diligently to design a multi-feedstock system. This new system should significantly reduce the cost of MagneGas2® production. It also has the potential to open lucrative markets in the gasification of solids and solid wastes such as coal and plastics,” said CEO Ermanno Santilli.

According to the Chief Executive Officer, the expected reduction in production costs should allow the company to penetrate the acetylene market at scale. The executive also expects the new system to unlock massive global market for cutting fuels.

The unveiling of the new gasification system comes at a time when MagneGas Corporation (NASDAQ:MNGA) has been consulted by its European Partner to provide consulting services focused on identifying applications of MagneGas technology in Europe. The initial value of the contract is $500,000 but could increase to $1 million.

Social Stock Exchange Ratification

In addition, MagneGas Corporation (NASDAQ:MNGA) has been approved as a member of the Social Stock Exchange. The ratification will provide the company with access to Europe’s only regulated exchange, dedicate to businesses and investors seeking to achieve positive social and environmental impact.

“The Social Stock Exchange is a very exclusive platform that grants us access to additional European investors that are focused on impact funding and alternative green technologies. This is a perfect fit for us as we continue to accelerate our business opportunities in Europe,” said CFO Scott Mahoney.

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 $MNGA 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.