Riot Blockchain Inc. (NASDAQ:BIOP)

Riot Blockchain Inc. (NASDAQ:BIOP)

Riot Blockchain Inc. (NASDAQ:BIOP) traded higher after announcing it had entered into a definitive agreement for the acquisition of a 52% stake in Toronto-based Tess Inc. The stock was up by 7.7% in Tuesday’s trading session to end the day at $8.13 a share.

Riot Blockchain Inc. (NASDAQ:BIOP)

BIOP Stock Performance

The acquisition reflects a change of focus which has seen Riot Blockchain tweak its operations to focus on the blockchain ecosystem. Given the hype around Bitcoin, the change has helped strengthen investor confidence on the stock. The company joins the likes of MGT Capital Investments Inc. (OTCMKTS:MGTI) and Overstock.com, Inc. (NASDAQ:OSTK) that have seen their share price explode.

Over the past one month, Riot Blockchain Inc. (NASDAQ:BIOP) has gained more than 60% in market value. The stock is also up by more than 100% for the year. Renewed investor interest in the stock does not come as a surprise given that bitcoin has also touched all-time highs in the market over the same period.

Tess’ acquisition will expand Riot Blockchain operations into the payment services business built around blockchain technology. The company is currently developing a guaranteed payment system using blockchain-based escrow service for telecom carriers.

“Our affiliation with Riot Blockchain will give us better access to the capital markets in the United States, as well as the availability of additional senior management resources, all in aid of our ambitious business plans around blockchain,” said TESS CEO, Jeff Mason.

Coinsquare Investment

The acquisition of a controlling stake in TESS builds on a strategic investment on Coinsquare, one of Canada’s leading exchanges for digital currencies. Riot Blockchain has reportedly paid a few million dollars for a 12% stake in the company. The investment underscores how committed the company is, in pursuing growth opportunities around blockchain technologies.

Riot Blockchain has already started to divest a number of intellectual Properties tied to the diagnostics industry, as it looks for additional capital to pursue opportunities in the digital currencies business.

Separately, Riot Blockchain Inc. (NASDAQ:BIOP) formerly Bioptix Inc. announced a special dividend of $1 per common share. According to the Chief Executive Officer Michael Beeghley, the dividend underscores the company’s commitment to returning value to shareholders.

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 $BIOP and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Capstone Turbine Corporation (NASDAQ:CPST) Cost Cutting Drive

Capstone Turbine Corporation (NASDAQ:CPST)

Capstone Turbine Corporation (NASDAQ:CPST) shares fell 7.76% after the leading manufacturer of microturbine energy systems announced a reduction in its quarterly operating-expense target. The company has lowered, following the restructuring of engineering assets and other cost reduction activities, its target from $5.5 million per quarter to $5 million.

CPST Stock Performance

Shares of Capstone Turbine had initially recorded a new 52-week high of $1.38 a share after Oppenheimer analysts upgraded the stock to an ‘outperform’. However, the stock came under pressure in Friday’s trading session as it dropped to end the week at $1.70 a share.

Capstone Turbine Corporation (NASDAQ:CPST) is currently trading in an uptrend despite Friday’s sell-off. A price target of $2 by Oppenheimer analysts appears to have strengthened sentiments on the stock. The analysts see potential upside in the stock price, given that the company is set to move its manufacturing operations to a more affordable space as it also continues to aggressively manage its supply chain.

 

Capstone Turbine Corporation (NASDAQ:CPST) has also announced that it is completing the previously announced $5.2 million retrofit program. The program seeks to upgrade non-signature series C100 and C200 microturbine to provide improved performance and reliability.

Capstone Forecast

According to Capstone Turbine Corporation (NASDAQ:CPST), improved reliability of the microturbine coupled with high performing Signature series microturbine could drive higher gross margins in the accessories, parts, and service divisions.

“We need to drive Capstone to profitability as quickly as possible in order to fuel Capstone’s launch to the next level of product development and market penetration. Our aftermarket service business growth is a critical element of our multi-point strategic plan to quickly achieve Adjusted EBITDA breakeven,” said CEO Darren Jamison.

Capstone Turbine Corporation (NASDAQ:CPST) is targeting revenues of up to $10 million, on gross margins of 50%, for its accessories, parts, and service business. The company has moved from a high-cost, three department research and development effort to a single consolidated department in pursuit of lower costs and improved efficiency on product optimization. Operating expenses as a result dropped 42% from $10.5 million as of Q1 2016 to $6.1 million in Q3 2017.

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 $CPST Symbol and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Traders Cautious on Jump in Leading Brands, Inc (USA) (NASDAQ:LBIX) Stock

Leading Brands, Inc (USA) (NASDAQ:LBIX)

Nano-cap Leading Brands, Inc (USA) (NASDAQ:LBIX) stocked rocketed over 68% Friday to end the day at $2.27 on volume over 128 times its 30-day, daily average.

Leading Brands, Inc (USA) (NASDAQ:LBIX)

About Leading Brands Inc.

Nano-cap Leading Brands, Inc (USA) (NASDAQ:LBIX) is headquartered in Vancouver, BC, Canada. It develops, markets, and distributes beverages in Canada, the western United States, and Asia. The company’s core product lines include premium spring waters and fruit juices. The company was formerly known as Brio Industries Inc. and changed its name to Leading Brands, Inc. in October 1999.

Some nano-cap observers believe the dramatic increase of Leading Brands, Inc (USA) (NASDAQ:LBIX) stock last week could be due to speculation that traders may be betting on a play in the near future by a braoder market than usual based on the recent moves by former nano-cap Helios and Matheson Analytics Inc (NASDAQ:HMNY). HMNY shares are up over 675% in the past month.

However, it should be noted that while LBIX shares have increased 134% over the past month, the beverage company has not released any news that would point to a dramatic increase in revenues or earnings as Helios and Matheson Analytics did.

LBIX Stock

In 2015, Leading Brands, Inc (USA) (NASDAQ:LBIX) posted sales of $400,000 and that sales figure improved to $1 million for 2016. Also to the benefit of LBIX shareholders is the fact that, according to reports, the number of outstanding shares has declined each year since 2013. However LBIX shares have posted per share losses each of the last three years, In 2015 investors lost (-$1.05) per share, (-$1.09) in 2015, and (-$0.88) for 2016.

Until last week, shares of Leading Brands, Inc (USA) (NASDAQ:LBIX) had been sliding since May when they last hit $2.27. The price action on Friday saw LBIX shares hit an inter-day high of $3.75 which is considerably over their 52-week high of $2.92.

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 $LBIX and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Reuters Article Propels Helios and Matheson Analytics Inc (NASDAQ:HMNY)

Helios and Matheson Analytics Inc (NASDAQ:HMNY)

Helios and Matheson Analytics Inc (NASDAQ:HMNY) stock has been covered by StockNewsUnion.com nine times since December of 2016 and the company is now being covered by financial news giant Reuters. In an article published today. Reuters raised the possibility that Helios and Matheson Analytics Inc (NASDAQ:HMNY) could be a billion dollar company – tapping into a business model similar to Netflix. The news article has sent the stock screaming higher.

Helios and Matheson Analytics Inc (NASDAQ:HMNY)

Helios and Matheson Business Model

Today the stock opened strong and HMNY stock is up over 20% this morning on heavy volumes. Over the past month HMNY shares have increased over 10-fold. According to the Reuters article “The ticketing service, led by Netflix co-founder Mitch Lowe, is seeking to spur the sort of revolution for the movie business that Ryanair did for airlines or Netflix did for streaming. The alliance between the two firms dates exactly to the moment earlier this year when MoviePass slashed all its variable subscription fees in favor of a single $9.95 model, allowing unlimited access to more than 90 percent of U.S. theaters. In the month that followed, the company’s subscriber numbers rose to over 400,000 from less than 20,000.”

On September 18, 2017 StockNewsUnion reported that Helios and Matheson Analytics Inc. (NASDAQ:HMNY) was a big mover after its latest acquisition, MoviePass Inc., announced it had surpassed 400,000 paying monthly subscribers over the last 30 days. The stock rallied 39.54% to end that week’s trading session at a high of $3.67 a share. At the time of the article, Mitch Lowe, co-founder of Netflix Inc. (NFLX), former president of RedBox, and current CEO of MoviePass said in a press release, “MoviePass is the ‘all-you-can-eat’ movie theater experience. Though expensive for the company in the short-term, it’s a significant benefit and more convenient for customers. With MoviePass, there’s no movie ticket prices to think about — going to the movies will become an everyday experience rather than an occasional treat.”

HMNY Stock Performance

Clearly investors are in love with Helios and Matheson Analytics Inc (NASDAQ:HMNY). Well above their 52-week low of $2.20, HMNY shares have a Relative Strength Index (RSI) figure exceeding 97. This is a figure that unquestionably signifies “rare air” in trading circles. Traders would agree that an RSI level of 80 is a clear “overbought” signal.

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 $HMNY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Riot Blockchain Inc. (NASDAQ:BIOP) Quits Diagnostic Equipment Business

Riot Blockchain Inc. (NASDAQ:BIOP)

Shares of Riot Blockchain Inc. (NASDAQ:BIOP) gained 18.1% after the maker of diagnostic machinery announced it was rebranding itself to focus on cryptocurrency and blockchain businesses. The company has since announced a strategic investment in Coinsquare Ltd, a leading digital currency exchange company.

Riot Blockchain Inc. (NASDAQ:BIOP)

Riot Blockchain Bitcoin Push

The rebranding push has resulted in the stock more than doubling in value since the start of the month. BIOP is up by more than 100% for the year as investors apparently remain confident about its prospects in the cryptocurrency business.

However, it is not the first company to be rewarded heavily by investors after expanding into the cryptocurrency space. Overstock.com and MGT Capital Investments also experienced astronomical increases in value after expanding their operations into the bitcoin space.

Riot Blockchain Inc. (NASDAQ:BIOP) has enjoyed a fair share amount of drama. Last year Venaxis acquired Bioptix Diagnostics and then renamed it Bioptix Inc. The acquisition quickly turned nasty after major shareholders accused the company’s executives of an “inside” job to benefit themselves.

In January, the company also found itself in trouble after three board members tendered their resignation. The company afterward announced job cuts as it sought to stay afloat by pursuing strategic alternatives.

Fast forward, Riot Blockchain is hoping to reinvent itself by investing in blockchain technologies and companies.

“With new applications being developed for blockchain every day, this is a rapidly growing and evolving market. We are excited to have partnered with and led an investment in Coinsquare, a company we believe is well positioned to capitalize on the opportunity in this sector,” said CEO Michael Beeghley.

Riot Blockchain Acquisition Play

Riot Blockchain Inc. (NASDAQ:BIOP) has paid a few million dollars for a 12% stake in Coinsquare. The company has also acquired warrants which it can use to increase its stake to 20%.

The Chief Executive Officer has also announced plans to buy companies focused on bitcoin mining, blockchain, and associated software. The deals are to be financed by a combination of cash and stock. In order to raise cash, the company is selling patents and intellectual property to a private company. The company expects as much as $2.5 million from the transactions.

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 $BIOP 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.

Is Tenax Therapeutics Inc. (NASDAQ:TENX) Sell-Off Over?

Tenax Therapeutics Inc. (NASDAQ:TENX)

Shares of Tenax Therapeutics Inc. (NASDAQ:TENX) gained 34.16% in Friday’s trading session, to end the week at $0.5098 a share.  The specialty pharmaceutical company has come under pressure this year as investors continue to question its long-term growth prospects.

TENX Stock Performance

TENX is down by more than 70% for the year as the pharmaceutical company failed to issue updates detailing developments on ongoing clinical programs.

Tenax Therapeutics Inc. (NASDAQ:TENX)

In July, Tenax Therapeutics Inc. (NASDAQ:TENX) held discussions with the U.S. Food and Drug Administration (FDA) regarding the regulatory pathway for Levosimendan. The company is investigating the candidate drug as a treatment option for patients undergoing coronary artery bypass grafting (CABG), to reduce the risk of low cardiac output syndrome. Levosimendan is also in trials for the treatment of patients with acute decompensated heart failure.

Positive Levosimendan Clinical Trials

The FDA meeting concentrated on additional analysis of Levosimendan surrounding 66% of the patients in the LEVO-CTS trial who underwent CABG alone. Initial clinical trial results indicate that patients who participated in the trial benefited from a highly significant 73% relative risk reduction in all-cause mortality.

“We are encouraged to find the data generated from the LEVO-CTS supports our continued belief that Levosimendan is an effective and safe inotrope to increase cardiac output in CABG only patients at risk for developing perioperative low cardiac output syndrome,” said CEO Michael Jebsen.

Tenax Therapeutics Inc. (NASDAQ:TENX) is currently awaiting a decision from the FDA on whether Levosimendan’s New Drug Application for the treatment of coronary bypass surgery can be filed. The agency has requested for additional information from published cross-study analyses to aid in its final decision.

Tenax Therapeutics is reviewing a number of strategic alternatives with the assistance of Ladenburg Thalmann & Co. Some of the strategies under review include a merger or a strategic investment into the company. The company is also reportedly open to license agreements as well as the acquisition of assets.

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 $TENX and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Globus Maritime Ltd (NASDAQ:GLBS) Drops As Revenues Surge

Globus Maritime Ltd (NASDAQ:GLBS)

Globus Maritime Ltd (NASDAQ:GLBS) shares fell 7.55% after the dry bulk shipping company reported unaudited, consolidated operating and financial results for the first half of the year. Revenues in the first half increased 63% compared to last year.

Globus Maritime Ltd (NASDAQ:GLBS)

Improving Fundamentals

According to the Chief Executive Officer, Athanasios Feidakis, the revenue growth indicates that the company’s efforts are finally bearing fruit. However, it appears investors remain skeptical about the company’s growth prospects.

Globus Maritime Ltd (NASDAQ:GLBS) has underperformed the overall industry even after the recovery of benchmark dry-bulk rates. The stock is down by more than 70% for the year as it continues to trade in a strong downtrend.

However, the Chief Executive Officer remains bullish about the company’s prospects buoyed by the 63% increase in revenues. Globus Maritime Ltd (NASDAQ:GLBS) has also trimmed its debt by about 30%, a further indication of bottom-line growth. Recovery in benchmark dry-bulk rates has allowed Global Maritime to hire its vessels out at a much higher rate.

“We are hoping to see a further improvement of the market fundamentals in the medium term future. We remain cautiously optimistic, and are following the market closely in our undertaking to best serve our clients and shareholders,” said Mr. Feidakis

Globus Financial Results

For the three months ended June 30, 2017, Globus Maritime Ltd (NASDAQ:GLBS) generated a net loss of (-$1.4) million or (-$0.05) a share, less than half a net loss of (-$2.9) million reported last year. The company attributes the decrease in net loss to an 80% increase in voyage revenues that came in at $3.6 million. Vessel operating expenses were down by $0.1 million or 5%.

For the first six months of the year, net loss totaled (-$3.7) million or (-$0.17) a share, compared to a net loss of (-$4.6) million for the corresponding period last year. Voyage revenue over the period was up 66% to $6.3 million as vessel operating expenses remained flat at $4.3 million.

Separately, an investor holding warrants, originally issued under February 2017 private placement, has exercised their right to purchase 500,000 shares of the company’s common stock at a price of $1.60 a share.

“We are pleased to have strengthened our balance sheet by $800,000. We consider this evidence of our investors’ support for our relentless efforts to move forward,” said Mr. Feidakis.

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 $GLBS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Real Goods Solar, Inc. (NASDAQ:RGSE) Gets Boost from Dow Chemical

Real Goods Solar, Inc. (NASDAQ:RGSE)

Real Goods Solar, Inc. (NASDAQ:RGSE) stock is up almost 300% as the market enters the last half of the trading day. RGSE shares hit resistance around $3 in mid-day trading but have since been testing the $3.20 handle. Traders jumped on news from Real Goods Solar, Inc. (NASDAQ:RGSE) that they have signed a licensing deal with Dow Chemical (NYSE:DOW) for their Powerhouse solar shingles. Volumes have been immense. Should the trend continue throughout the day, RGSE shares will trade over 450 times their normal daily average of just over 142,000 – as of this writing, over 32.7 million shares have traded.

Real Goods Solar, Inc. (NASDAQ:RGSE)

DOW Chemical’s Involvement

In 2008, DOW Chemical started an R&D effort to produce shingles that could serve as a solar panel and be directly integrated into a roof. DOW’s first efforts were installed in over 1,000 locations in 18 states. Then, in 2015, DOW switched to a lower cost solar technology which, they believed, would be more commercially viable. The new technology also had the benefit of being more efficient.

DOW Chemical has patented the new technology and it is this technology that is being licensed by Real Goods Solar, Inc. (NASDAQ:RGSE). Real Goods Solar, Inc. (NASDAQ:RGSE) has agreed to absorb all commercial aspects of the deal including supply chain management, marketing, sales, installation and warranty. It is believed that sales will commence in the first half of 2018.

RGSE Stock

Real Goods Solar, Inc. (NASDAQ:RGSE) shares, adjusted for dilution, have been battered over the past two years. In 2016 they were trading over $100 and spent much of 2016 with their shares valued at twice those levels. However, for the past few months the solar energy based company has struggled to keep its share value above $1 – typically the threshold for being listed on the NASDAQ Market.

The past year has seen RGSE stock hit a high of over $86, and a low of $0.60. Performance has, accordingly, been weak as the past year shareholders have seen, prior to today, RGSE stock lose over 98% of its value. Sales growth was impressive from 2012 through 2014 as the figure rose from $44 million to $70.8 million. Unfortunately, the company posted a disappointing $17.4 million for 2016.

As the market cap for Real Goods Solar, Inc. (NASDAQ:RGSE) is under $20 million, no firm yet follows the company and no share ratings are publicly available. But with this deal, that situation could change when revenues start hitting.

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 $RGSE and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

EnteroMedics Inc. (NASDAQ:ETRM) Acquires ReShape Medical

EnteroMedics Inc. (NASDAQ:ETRM)

Shares of EnteroMedics Inc. (NASDAQ:ETRM) gained 12.3% after the developer of minimally invasive medical devices announced the acquisition of ReShape Medical. The acquisition of the privately held medical technology company will expand the company’s addressable market and revenue stream.

EnteroMedics Inc. (NASDAQ:ETRM)

ReShape Acquisition

The acquisition will likely compliment the company’s EnteroMedics Inc. (NASDAQ:ETRM) existing products at a time when the company is in dire need of new catalysts. ReShape Medical is the owner and marketer of the FDA-approved ReShape Dual Weight Loss Balloon, designed to treat obese patients with body mass index of between 30 and 40.

Investor confidence in EnteroMedics Inc. (NASDAQ:ETRM) hit at all-time lows as the stock slumped to multi-year lows. ETRM is down by more than 80% for the year after coming under immense selling pressure. Tuesday’s rally did little to strengthen investors’ confidence on the stock as it continued to trade in a strong downtrend.

EnteroMedics Inc. (NASDAQ:ETRM) is in dire need of new products if it is to reinvigorate its growth prospects in the industry. The company has long struggled financially as sales and profits continue to drop. Much of the company’s troubles stem from its flagship device vBloc which lacks coverage from major insurers despite showing promise.

The Chief Executive Officer, Dan Gladney, is however confident about the company’s prospects especially with the acquisition of ReShape Medical.

“EnteroMedics and ReShape Medical are two innovative companies that share a strong strategic focus on providing proprietary, patient-friendly technologies to address the global obesity epidemic. We look forward to combining the complementary expertise and capabilities of both companies for the benefit of our customers, patients, employees, and stockholders,” said Mr. Gladney.

Acquisition Terms

Under the terms of the acquisition agreement, EnteroMedics Inc. (NASDAQ:ETRM) is to add two designees of ReShape Medical to its board of directors. ReShape Medical is also entitled to 2.36 million shares of EnteroMedics common stock, 187,772 shares of series C convertible preferred stock as well as $5 million in cash.

The $5 million cash is to be used to pay ReShape’s outstanding senior secured indebtedness among other transaction expenses. EnteroMedics Inc. (NASDAQ:ETRM) is to hold a special meeting of shareholders on December 31, 2017, to seek approval of the conversion of Series C convertible preferred stock.

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 $ETRM and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Quarterhill Inc. (NASDAQ:QTRH) Up On Q3 Earnings Expectations

Quarterhill Inc. (NASDAQ:QTRH)

Quarterhill Inc. (NASDAQ:QTRH) jumped 20.5% after providing an update on financial results ending September 30, 2017. The investment holding company says it expects revenues of between $72.5 million to $82.5 million driven by strong results from its patent licensing subsidiary Wi-LAN Inc.

Wi-LAN subsidiary has already entered into a comprehensive licensing agreement with Samsung Electronics. The agreement builds upon patent rights previously granted to the South Korean company. However, the terms of the agreement remain confidential.

QTRH Stock Investor Reaction

Quarterhill Inc. (NASDAQ:QTRH)

Investors reacted to the positive outlook by pushing the stock to $1.59 – close to a key resistance level. The stock is currently trading at levels last seen in January after dropping from April highs of $2.20 a share.

The company also announced it expects adjusted EBITDA to come in between $50 and $56 million. Quarterhill Inc. (NASDAQ:QTRH) will release Q3 financial results on November 9, 2017.

“As we have said in the past, financial results in this segment of our business can be variable from quarter-to-quarter and this is a prime example of the upside potential of this variability. Our expected results for Q3 will provide a significant boost to our cash position, which will assist in the continued growth of Quarterhill,” said CEO Shaun McEwan.

$4.23 Million Contract

Separately, the Oklahoma Department of Transportation has awarded a wholly owned subsidiary of Quarterhill Inc. (NASDAQ:QTRH), International Road Dynamics, a contract worth $4.23 million. Under the terms of the agreement, the subsidiary is to provide installation, repair service, and calibration for Traffic Monitoring Systems across the state.

International Road Dynamics is to be responsible for all equipment, materials labor, and technical expertise. The company is also to install and maintain a Weigh in Motion and AVC systems. All Systems in the state are solar powered and accessible via cellular mode.

The $4.23 million contract builds on a CDN$1.95 million contract that International Road Dynamics was awarded for the supply of Commercial Vehicle Pre-Screening Stations for the Saskatchewan Bypass project. The systems are to be used for screening and monitoring of commercial vehicles based on weight and dimension.

Under the terms of the agreement, the Quarterhill Inc. (NASDAQ:QTRH) subsidiary is to supply and install an integrated system using its Bending Plate Weigh-In-Motion Scales with License Plate Readers.

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 $QTRH and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.