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.

Catalyst Biosciences Inc (NASDAQ:CBIO) shares have come off their early morning high of $9.00, bounced off $5.50 level and now trading above $6 handle.

Catalyst Biosciences Inc (NASDAQ:CBIO) Sees Morning Volatility

Catalyst Biosciences Inc (NASDAQ:CBIO)

Catalyst Biosciences Inc (NASDAQ:CBIO) shares have come off their early morning high of $9.00, bounced off the 45.50 level and are now trading above the $6 handle. Volume, as of 10 AM EST, is already at 1.2 million shares. CBIO shares have a listed daily average of just over 271,000. The company has released no news, or made any filings, that could account for the morning’s volatility.

Catalyst Biosciences Inc (NASDAQ:CBIO)

Catalyst Biosciences Inc. (NASDAQ:CBIO) is a clinical-stage biopharmaceutical company focused on developing novel medicines to address hematology indications. Catalyst is focused on the field of hemostasis, including the subcutaneous prophylaxis of hemophilia and facilitating surgery in individuals with hemophilia. Catalyst’s most advanced program is a potent next-generation coagulation Factor VIIa variant, marzeptacog alfa (activated), that has successfully completed an intravenous Phase 1 clinical trial in individuals with severe hemophilia A or B.

CBIO Stock

In February, Catalyst Biosciences Inc. (NASDAQ:CBIO) underwent a reverse stock split to stay in compliance with NASDAQ rules regarding low priced stock. Dilution has been an issue for shareholders of CBIO. In 2013, there were 20,000 shares outstanding. By the end of 2016 that number had ballooned to 780,000.

Sales have also been going in the wrong direction. In 2012 Catalyst reported sales of $57.9 million. However, that figure was just $400,000 for FY 2016. On a diluted adjusted basis, EPS loss for 2013 was -$409.30. That loss shrank steadily and the EPS loss for CBIO was -$21.75 for 2016.

Of particular note is that the company reports a cash per share value of $6.35. Shares are trading around that level this morning. Analysts have given CBIO shares a rating of “Strong Buy”. Their consensus, one-year price target is $12.33.

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 $CBIO 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.

Nova Lifestyle Inc (NASDAQ:NVFY) Jumps in Pre-Market on Guidance

Nova Lifestyle Inc (NASDAQ:NVFY)

Shares of Nova Lifestyle Inc (NASDAQ:NVFY) are up over 20% in the pre-market after the company provided financial guidance for Q4 2017. The pre-market low of $1.92 was hit at 7:45 AM EST, and the pre-market high was established at 7:53 AM EST at $2.38. Volume has been light to moderate.

Nova Lifestyle Inc (NASDAQ:NVFY) forecasted revenues to come in between $35 and $36 million. Net income guidance was$3 million – $3.5 million. Net income, per share, is expected to be in the range of $0.11 – $0.13 for the quarter. And, notably, Nova announced that it expects expanded profit margins across nearly all product lines.

Tawny Lam, CEO of Nova Lifestyle Inc (NASDAQ:NVFY) stated “Since the Company’s successful transformation in early 2017 from a low-margin furniture manufacturing business to a high-margin innovative designer and global marketer of modern lifestyle consumer products, we have significantly fine-tuned our product mix and deepened distribution channels, which led to our recently announced record 3rd quarter financial results.”

“Nova made over $1 million in net income during the month of October, a substantial increase over the same period last year. Nova expects the same growth momentum to continue for the balance of the 4th quarter of 2017 and well into 2018.”

Nova LifeStyle Business Model

Nova Lifestyle Inc (NASDAQ:NVFY) is headquartered in Commerce, California. The company designs, manufactures, and distributes modern LifeStyle furniture – primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova’s products are made and marketed in the US, Europe, and Asia and include LifeStyle brands such as Diamond Sofa, Nova QwiK, and Bright Swallow International.

NVFY Stock Performance

Nova Lifestyle Inc (NASDAQ:NVFY) broke above strong resistance at $2 last week, sold off, then broke above the key threshold again yesterday. NVFY has a 52-week low of $1.06 and a 52-week high of $3.13.

Over the past quarter, the stock has outperformed, gaining over 30%. However, over the past year, NVFY stock has lost over 40%. Recently the company has been trading near it book/share value of $2.28. What is interesting is that listed reports have Nova Lifestyle’s cash per share at just $0.01.

Sales have not impressed over the last few years. In 2014, sales were reported at $98.7 million and that decreased to $92.6 million by 2016. Earnings have also been challenging. In 2014 EPS was at $0.42, but in 2016 the company posted a per share loss of (-$0.01).

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 $NVFY 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.

Diana Containerships Inc (NASDAQ:DCIX)

Stock Rises Despite Q3 Losses by Diana Containerships Inc (NASDAQ:DCIX)

Diana Containerships Inc (NASDAQ:DCIX)

Diana Containerships Inc (NASDAQ:DCIX) shares are up 81%, to $12, in pre-market trading after the shipping company reported a Q3 2017 loss of $8.7 million. On a per-share basis, the loss amounted to $128.67. DCIX shares, a favorite of day-traders, hit a low of $6.35 at 7:13 AM EST and a high of $9.50 at 7:56. Volume has been light to moderate.

Diana Containerships Inc (NASDAQ:DCIX)

The shipping company posted revenue of $6.7 million in the period. Greece-based Diana Containerships Inc (NASDAQ:DCIX) is a global shipping provider. The company’s containerships are employed primarily on time charters with leading liner companies carrying containerized cargo along worldwide shipping routes.

Diana Q3 Financials

Net income for the nine months ended September 30, 2017 amounted to $20.4 million, compared to a net loss of (-$140.6) million for the same period of 2016. The net income for the nine months ended September 30, 2017 reflected a gain from a debt write-off, arising from the settlement agreement with respect to the secured loan facility with the Royal Bank of Scotland plc. The specific gain, net of related expenses, amounted to $42.2 million.

The loss for the nine months ended September 30, 2016 reflected the result of impairment charges for seven of the company’s vessels. Time charter revenues, net of prepaid charter revenue amortization, for the nine months ended September 30, 2017, amounted to $16 million, compared to $27.7 million for the same period in 2016.

Diana Lawsuit

A number of law firms are pursuing class action lawsuits against Diana Containerships Inc (NASDAQ:DCIX). The complaints generally allege that the company made materially false and misleading statements regarding the company’s business, operational, and compliance policies.

Specifically, the company made false and/or misleading statements and/or failed to disclose that: (i) through his control of Diana, Symeon Palios caused Diana to sell its common shares and securities convertible into common shares to an entity named Kalani Investments Limited (“Kalani”) at a significant discount to market price and to file registration statements so that Kalani could resell these shares into the market; (ii) when Kalani’s sales of DCIX stock caused the price of Diana stock to drop, the company would reverse split the stock, causing a specific number of outstanding shares to be merged into a single share, thereby raising the price of Diana stock; (iii) then Diana would again sell securities to Kalani and the same pattern of transactions would ensue.

By October 3, 2017, as a result of defendants’ ongoing dilutive and manipulative conduct, the price of Diana common stock had declined to close at $0.47 per share on an unadjusted basis. At this share price, Diana had a market capitalization of less than one million dollars, despite having raised millions of dollars since January 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 $DCIX 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.

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) Market Value Almost Triples!

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) Market Value Almost Triples!

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC)

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) shares nearly tripled in market value after the holding company reported Q3 financial results that exceeded Wall Street expectations. Revenue for the three months ended September 30, 2017, nearly doubled as net loss dropped by two thirds.

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) Market Value Almost Triples!

CADC Stock Performance

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) stock is currently trading at this year’s highs and close to its 52-week high of high of $9.75 a share. The better than expected financial results appear to have strengthened investor confidence in the company, as the stock had been trading in a downtrend.

Over the past one month, the stock has performed along a premium change of 7.5%. For the past three months, the stock is up by more than 13.1%. However, it is down by 6.5% for the past six months.

The stock grabbed analysts’ attention after spiking on unusual volume. More than 19.31 million shares exchanged hands in Thursday’s trading session compared to a 3-month average volume of 0.02 million and a daily average trading volume of 15.5k shares.

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) conducts its primary business through subsidiaries. The company engages in the production of construction materials for infrastructure, commercial and residential developments.

Government and industry associations have certified the company’s products. It also boasts of a leading position in the large, highly fragmented ready-mix market concrete market.

CADC Q3 Financial Results

For the three months ended September 30, 2017, the construction company reported revenues of $13.8 million, up from revenues of $7.5 million reported in the corresponding period last year. Cost of revenue surged to $12.3 million from $8.41 million. China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) generated a gross profit of $1.4 million compared to $952,412 reported last year.

“Our management believes that we have the ability to capture a greater share of the Beijing market via expanding relationships and networking, signing new contracts, and continually developing market-leading innovative and eco-friendly ready-mix concrete products,” China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) in a statement.

Net loss for the three months ended September came in at $545,590 compared to a net loss of $5.3 million reported last year. China Advanced Construction Materials exited the quarter with cash and cash equivalent of $923,882 compared to $8.2 million as of the same period last year.

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) has a Return on Assets of -25.40%. Return on Investment currently stands at -20.55 which means its operations costs outweigh returns.

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 $CADC 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.

Liquidmetal Technologies Inc. (OTCMKTS:LQMT)

Liquidmetal Technologies Inc. (OTCMKTS:LQMT) Touts Production Milestones

Liquidmetal Technologies Inc. (OTCMKTS:LQMT)

Shares of Liquidmetal Technologies Inc. (OTCMKTS:LQMT) gained 10.8% after the amorphous alloy developer said it achieved major production milestones in the medical and automotive markets in Q3. During the quarter, the company demonstrated its new ENGEL-based medical grade molding system and upgraded EON industrial grade molding systems.

Liquidmetal Technologies Inc. (OTCMKTS:LQMT)

Financial Results/ Corporate Update

Focus in the quarter was on the development of prototype and commercial parts for customers. Liquidmetal Technologies Inc. (OTCMKTS:LQMT) also partnered licensees on the development of the company’s technology and production processes.

“Our customers have shifted from an interest in a novel technology to a strong desire to produce high volumes of amorphous metal parts. We now have the capabilities customers demand to scale high-value production,” said Bruce Bromage, COO.

It awaits to be seen if the milestones will help strengthen investors’ confidence in Liquidmetal Technologies Inc. (OTCMKTS:LQMT). The stock has been under pressure since September when it rose to $0.40 a share. While the stock is up by more than 10% for the year, it faces the risk of dropping further as it continues to trade near a key support level.

For the third quarter, Liquidmetal Technologies Inc. (OTCMKTS:LQMT) generated revenues of $36,000. Selling, marketing, general, and administrative expenses in the quarter totaled $1.7 million as research and development expenses dropped to $500,000 from $548,000 as of last year.

The company exited the quarter with cash and cash equivalent of $43.3 million compared to $58.9 million as of December 31, 2016. Liquidmetal Technologies Inc. (OTCMKTS:LQMT) attributes the decrease to capital expenditures associated with the build-out of the company’s manufacturing capabilities.

LiquidMetal COO Appointment

Separately, Liquidmetal Technologies Inc. (OTCMKTS:LQMT) has confirmed the appointment of Bruce Bromage as the company’s Chief Operating Officer. Bromage is tasked with the responsibility of executing the company’s business strategy and operations.

He takes over after serving as the company’s executive vice president of business development and operations. Bromage has previously held executive positions at Hewlett Packard and the Hughes Aircraft Company. According to the Chief Executive Officer, the appointment provides direct accountability for the company’s operational financial performance.

Open House Event

The developer of alloy technologies hosted an open house event at its Lake Forest facility last month. Over 180 investors, customers, and partners attended the event. On display were the firm’s three production lines, medical-grade amorphous metal molding, and industrial grade amorphous metal molding and newly added Metal injection molding.

“It was a pleasure to be able to discuss our business directly with customers and investors,” said Professor Li. “They had many excellent questions.”

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 $LQMT 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.

Arca Biopharma Inc. (NASDAQ:ABIO)

Arca Biopharma Inc. (NASDAQ:ABIO) Awarded European Patent

Arca Biopharma Inc. (NASDAQ:ABIO)

Arca Biopharma Inc. (NASDAQ:ABIO) traded higher after the European Patent Office granted it a patent on methods for treating cardiovascular disease with a thiol-substituted isosorbide mononitrate. Shares of the company gained 20.83% to end Thursday’s trading session at $1.45 a share.

Arca Biopharma Inc. (NASDAQ:ABIO)

ABIO Stock Performance

Thursday’s rally capped yet another impressive run as the stock continues to bounce back from yearly lows. Arca Biopharma Inc. (NASDAQ:ABIO) has shed more than 40% in market value since the start of the year as short sellers continue to apply pressure. The stock is currently trading in a downtrend and faces immediate resistance at $1.60.

The new European Patent appears to have revitalized investors’ confidence in the stock. Titled Methods of and Compositions for Cardiovascular Disease and Conditions, the patent provides protection for Arca Biopharma Inc. (NASDAQ:ABIO) approach for treating patients with cardiovascular diseases and conditions.

AB171 Development

The biopharmaceutical company has discovered what it believes is a pharmacogenetic target for AB171, which can be used in genetically targeted cardiovascular development programs. ARCA plans to advance the development of AB171 for the treatment of peripheral arterial disease and for chronic heart failure.

“The addition of AB171 to our genetically-targeted development pipeline, including the Gencaro atrial fibrillation-heart failure program, is consistent with that mission. We believe our experience with GENETIC-AF has established the feasibility of in-house design and execution of pharmacogenetic clinical trials, and has provided invaluable insights into this type of drug development,” said CEO, Michael Bristow.

Arca Biopharma Inc. (NASDAQ:ABIO) expects top-line results on a Phase 2B Genetic-AF trial in the latter part of the first quarter of 2018. The Phase 2B trial will be investigating the safety and efficacy of Gencaro to Toprol-XL for the treatment and prevention of atrial fibrillation or heart flutter.

“We are focused on executing our genetically-targeted approach to cardiovascular drug development and look forward to furthering our development of Gencaro as well as initiating additional pharmacogenetic development programs..,” said Mr. Brostow.

Arca Q3 Financial Results

Separately, Arca Biopharma Inc. (NASDAQ:ABIO) reported a net loss of (-$4.4) million or (-$0.39) a share, for the three months ended September 30, 2017. Net loss for the first nine months of the year came in at (-$14.3) million compared to a net loss of (-$12.2) million for the corresponding period last year. Research and development expenses for the quarter totaled $3.5 million compared to $3.7 million for Q3 2016.

Arca Biopharma Inc. (NASDAQ:ABIO) exited the quarter with cash and cash equivalent of $16 million compared to $23.5 million as of December 31, 2016. The cash balance is sufficient to fund operations and projected cost structure through the end of 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 $ABIO 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.

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.

Egalet Corp (NASDAQ:EGLT)

Egalet Corp (NASDAQ:EGLT) Moves on Topline Trial Results

Egalet Corp (NASDAQ:EGLT)

Egalet Corp (NASDAQ:EGLT) was a big mover after announcing top-line trial results from a phase 3 safety study of its abuse-deterrent oxycodone formulation Egalet-002. Shares of the company gained 38.55% after it emerged the formulation was well tolerated, and adverse events reported were consistent with expected outcomes.

Egalet Corp (NASDAQ:EGLT)

Egalet-002 Top Line Results

According to the Chief Executive Officer, Bob Radie, the positive Phase 3 safety study results validates the company’s Guardian technology, which is being used to develop abuse-deterrent formulations of prescription medications.

Last year, Egalet Corp (NASDAQ:EGLT) reported positive top-line result from a category 3 intranasal human abuse potential study of Egalet. The formulation is currently in late-stage development for the management of pain severe enough to require daily, long-term opioid treatment for which other treatment options are inadequate.

Despite the 38% rally, Egalet Corp (NASDAQ:EGLT) continues to trade in a downtrend after underperforming the overall industry for the better part of the year. The stock has shed more than 80% in market value since the start of the year and is currently trading near all-time lows. Shares of the company closed at $1.15, last year they were trading at $5.58 a share.

Despite the underperformance, the Chief Executive Officer remains bullish about the company’s long-term prospects as they move to address the prescription abuse crisis.

“With 124% prescription growth and 41% revenue growth for our marketed products over last year’s third quarter, we continue to grow our business With a cash position of $102.1 million and the increased focus on non-narcotic and innovative treatments to alleviate pain,” said Mr. Radie

For the three months ended September 30, 2017, Egalet Corp (NASDAQ:EGLT) registered a 101% increase in Nasal Spray prescriptions over the third quarter of 2016. The company also partnered Ascend Therapeutics to begin promotion of SPRIX Nasal Spray to over 11,000 target women healthcare providers.

Egalet Q3 Financial Results

Net product sales for the third quarter came in at $6.7 million compared to $4.7 million reported last year. Cost of sales was $1.2 million up from $914,000 as of last year and reflected the average cost of inventory produced and dispensed to patients. General and Administrative expenses dropped to $6.8 million from $8 million as of the corresponding period last.

Egalet Corp (NASDAQ:EGLT) generated a net loss of (-$18.9) million in Q3 2017 or (-$0.46) a share, compared to a net loss of (-$26.9) million or (-$1.10) reported last year. The earnings exceeded Wall Street expectations as analysts were expecting a net loss of (-$0.47) cents a share. The integrated specialty pharmaceutical company exited the quarter with cash and cash equivalent of $102.1 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 $EGLT 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.