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.

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

Sorl Auto Parts, Inc. (NASDAQ:SORL) Raises Guidance after Stellar Q3

Sorl Auto Parts, Inc. (NASDAQ:SORL)

Shares of Sorl Auto Parts, Inc. (NASDAQ:SORL) gained 20.4% after the leading manufacturer and distributor of automotive brake systems reported Q3 financial results that beat Wall Street estimates. According to the Chief Executive Officer, Xiaoping Zhang, demand for the company’s products continue to increase across all three business segments.

Sorl Auto Parts, Inc. (NASDAQ:SORL)

Sorl Sales Growth

Investors reacted to the better than expected financial results by pushing the stock up the chart, after coming under pressure in recent weeks. The stock is currently trading in an uptrend with immediate resistance at $8.40, above which it could make a push for the 52-week high of $9.74 a share. For the full year, the stock is up by more than 90%.

For the three months ended September 30, 2017, Sorl Auto Parts, Inc. (NASDAQ:SORL) generated sales of $101.3 million – representing a 59% year over year growth. Revenues from international markets increased 19.1% to $19.3 million due to growing global customer base. Net sales for the first nine months of the year increased 29.6% to $72.9 million.

Gross profit in the quarter grew 44.4% to $27.3 million compared to $18.9 million reported last year. However, gross margin dropped to 26.9% from 29.7% due to higher raw materials costs and price promotion designed to increase market share.

“We are excited to report that our sales growth in all three segments accelerated during the quarter. We continue to capture market share in the Chinese commercial vehicle braking market with our new advanced products and attractive pricing,” said Mr. Zhang.

New Guidance

Net income attributed to shareholders increased 165% to $8.6 million or $0.44 a share compared to $3.2 million or $0.17 a share reported last year. Net income for the first nine months of the year nearly doubled to $21.4 million or $1.11 a share from $10.9 million or $0.57 a share reported last year.

Sorl Auto Parts, Inc. (NASDAQ:SORL) exited the third quarter with cash and cash equivalent of $7.6 million. Inventories in the quarter increased to $83.1 million from $65.8 million as of December 31, 2018.

Buoyed by the strong performance in the third quarter, Sorl Auto Parts, Inc. (NASDAQ:SORL) management has increased its full-year guidance for net sales, from $315 million to approximately $370 million. The company also expects net income of $30.5 million up from an initial guidance of $27.5 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 $SORL 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.

Celsion Corporation (NASDAQ:CLSN) Q3 Results Disappoint

Celsion Corporation (NASDAQ:CLSN)

Shares of Celsion Corporation (NASDAQ:CLSN) fell 5.2% after the oncology drug development company reported financial results for the three and nine months ended September 30, 2017. A net loss for the two periods appears to have spooked the market, fuelling a sell-off of the stock.

Celsion Corporation (NASDAQ:CLSN)

CLSN Sell-Off

Following Tuesday’s sell-off, Celsion Corporation (NASDAQ:CLSN) is at risk of dropping to this year’s lows as it continues to trade in a strong downtrend. The stock has shed more than 50% in market value since the start of the year as investors continue to question the company’s long-term prospects.

However, data compiled by Zacks Investment Research indicates that two analyst firms currently rate the stock as a ‘strong buy’ amidst the growing short interest. Despite disappointing financial results, analysts are forecasting a 76.6% year over year increase in earnings. The analysts also expect earnings to grow by 48.4% next year.

For the quarter ended September 30, 2017, Celsion Corporation (NASDAQ:CLSN) reported a net loss of (-$5.7) million or (-$0.70) a share compared to a net loss of (-$6.4) million reported last year. The company attributes the decrease to a tighter clinical development focus coupled with lower operational expenses. Net loss for the first nine months came in at (-$16.1) million compared to (-$16.7) million as of last year.

Celsion Pipeline Development

During the quarter Celsion Corporation (NASDAQ:CLSN) recognized deemed dividends totaling $0.4 million with regards to multiple agreements with certain warrant holders. The company also made important milestones in the development of its lead clinical programs and capital infusion of $38 million to help drive the development efforts.

Celsion Corporation (NASDAQ:CLSN) is currently working on ThermoDox, its proprietary heat-activated liposomal encapsulation currently in Phase III for the treatment of primary liver cancer. The company’s immunotherapy program consisting of GEN-1 is currently in Phase 1 development as a localized treatment for Ovarian Cancer.

“We believe that we now have sufficient capital to complete enrollment of our Phase III OPTIMA Study and through the first efficacy analysis expected in the first quarter of 2019. Further, we expect that our current funds will allow us to make substantial progress in our open-label, randomized, 86 patient Phase I/II study of GEN-1 in newly diagnosed stage III and IV ovarian cancer patients,” said CEO, Michael Tardugno.

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 $CLSN 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.

Cherokee Inc. (NASDAQ:CHKE) Explodes On Credit Facility Amendment

Cherokee Inc. (NASDAQ:CHKE)

Shares of Cherokee Inc. (NASDAQ:CHKE) gained 52.6% after the global brand marketing company announced the amendment, subject to satisfaction of certain conditions, of its senior secured credit facility. The amendment relieves the company from the burden of having to issue approximately $5.5 million in additional common stock.

Cherokee Inc. (NASDAQ:CHKE)

Credit Facility Amendment

The Chief Executive Officer, Henry Stupp, expects the agreement to allow the company to focus on growing the business for the long term. An agreement with lenders also marks an important step as Cherokee moves to stabilize its balance sheet and sustain liquidity.

“Over the last several months, we’ve taken several actions to focus on our core business fundamentals and high-growth brand opportunities. As a result, we are focused on reducing operating expenses and improving cash flow. We’re comfortable with our financial position and confident in our ability to meet our existing obligations,” said Mr. Stupp.

The amendment erases the need to exercise rights under a Common Purchase Agreement dated August 11, 2017. Cherokee Inc. (NASDAQ:CHKE) has since canceled a special meeting for shareholders that was to take place on November 28, 2017, to discuss the issuance of common stock.

The signing of the credit agreement appears to have strengthened investors’ confidence in Cherokee Inc. (NASDAQ:CHKE), be it in the short term. The stock has come under pressure in recent months having already dropped to this year’s lows. Cherokee is currently trading in a downtrend after losing more than 70% in market value since the start of the year.

It awaits to be seen if the stock will continue to trade higher given the credit facility amendment will provide greater financial flexibility, in addition, you to eliminate the obligation to call equity commitments.

Management Appointment

Separately, Cherokee Inc. (NASDAQ:CHKE) has confirmed the appointment of Mark Conway as the Chief Brand and Revenue Officer. Mr. Conway is to oversee the company’s business development, strategic brand planning, e-commerce and marketing. He joins the company with more than 20 years of retail experience.

“Mark joins us at a critical time in our growth trajectory as we harness ongoing transformations in the retail landscape and complete the integration of our acquisition of Hi-Tec. Going forward, Mark will play a key leadership role as we increase the penetration of our brand portfolio in multiple channels and synergize our business units,” said Mr. Stupp.

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 $CHKE 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.

https://www.topships.org/

TOP SHIPS Inc (NASDAQ:TOPS) History Suggests Caution

TOP SHIPS Inc (NASDAQ:TOPS)

TOP SHIPS Inc (NASDAQ:TOPS) stock dropped over 17% and ended the trading day at $0.72 on volume that was over three times normal. TOPS stock has struggled to remain over the $1 per share level which serves not only as a psychological level, but is also a key level to maintain NASDAQ compliance.

TOP SHIPS Inc (NASDAQ:TOPS)

The Board of Directors for Greek-based TOP SHIPS Inc (NASDAQ:TOPS) has approved, and enacted, several reverse splits in the last few years. In 2014, there was a 1:7 reverse split, then in 2016 there was a 1:10 reverse stock split. In 2017 there have been four. In May, the reverse split ratio was 1:20, in June it was 1:15, in August the ratio was 1:30, and last month the company ordered a reverse split using a ratio of 1:2.

Taking the reverse splits into account, TOPS stock traded at an astounding $250,000 per share in 2009. The extreme destruction of TOPS shareholder equity is the basis for a number of class-action lawsuits and SEC investigations.

TOPS Lawsuits

The lawsuits allege that TOP SHIPS Inc (NASDAQ:TOPS) CEO Evangelos J. Pistiolis caused the company to engage in a series of manipulative share issuance and sales transactions with Kalani Investments Limited (“Kalani”) through which Top Ships would sell its common shares and securities convertible into common shares to Kalani at a significant discount to market price and file registration statements so that Kalani could resell these shares into the market. When Kalani’s sales of TOP SHIPS Inc (NASDAQ:TOPS) stock caused its share price to decline, the company would reverse split the stock thereby raising its stock price.

The lawsuits continue to allege that the TOP SHIPS Inc (NASDAQ:TOPS) would continue to manipulate the stock price and lending arrangements by selling additional securities to Kalani. Then the same lending and trading pattern would follow. Allegations state that the company failed to disclose the true purpose of the transactions and related stock issuances and reverses – to finance related-party transactions and acquisitions that primarily benefited Mr. Pistiolis and company insiders.

What is a matter of record is that by August 2017, TOP SHIPS Inc (NASDAQ:TOPS), through Kalani, issued and sold into the market tens of millions of shares of TOPS common stock, vastly diluting shareholder equity. The value of TOPS stock has fallen by more than 99% in the past year.

TOP SHIPS New Debt

On Friday, TOP SHIPS Inc (NASDAQ:TOPS) announced that it will enter into a note purchase agreement for the issuance of a revolving promissory note with Crede Capital Group LLC, a Delaware limited liability company, in the amount of $12.5 million with a single revolving option for an additional $5.0 million note.

According to the press release, the two notes will have a 2-year term and will bear interest at 2% per annum for the first 90 days, 10% per annum for the next 90 days, and 15% per annum for the remaining duration of the term. The notes will be pre-payable at the election of the company at any time, will not be convertible into equity, and will begin to amortize upon their six-month anniversary. Proceeds will be used to expand the company’s fleet and for general corporate purposes.

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 $TOPS 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.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

Ford News Boosts Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) Stock

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

EKSO stock rocketed in Friday’s trading session after an announcement that The Ford Motor Company (NYSE:F) is testing exoskeletons developed by Richmond, CA-based Ekso Bionics Holdings, Inc. (NASDAQ:EKSO).

The four EksoVests were paid for by the United Auto Workers union, which represents hourly workers at Ford, and the automaker plans tests for the exoskeleton in other regions including Europe and South America. The cost of the exoskeletons, which were developed as part of a partnership between Ford and Ekso, was undisclosed. Two workers at each of the company’s Wayne and Flat Rock factories have been testing the exoskeletons since May. The lightweight vest supports workers while they perform overhead tasks, providing lift assistance of up to 15 lbs. per arm through a mechanical actuator that uses torque to take the stress off a worker’s shoulders.

About Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) was founded in 2005 and began by developing exoskeletons for the military and medical fields. In 2013, the company branched out into the manufacturing and construction sectors in 2013. Ekso Bionics is the only exoskeleton company to offer technologies that range from helping those with paralysis to stand up and walk, to enhancing human capabilities on job sites across the globe, to providing research for the advancement of R&D projects intended to benefit U.S. defense abilities.

EKSO Stock

Last Wednesday Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) reported a Q3 2017 loss of (-$6.3) million, or (-$0.18) per share, on revenues of $1.6 million. According to Zack’s Investment Research, the consensus estimate for Q3 was a loss of (-$0.13). Despite missing the consensus estimate by over 35%, the market reacted with a shrug and EKSO stock was barely changed for the day.

However, the market reacted strongly to the press release announcing the relationship with the Ford Motor Company. EKSO shares closed on Thursday at $1.05, the gapped up to open at $1.30 before hitting their inter-day high of $1.58 and eventually settling at $1.53.

For the week, EKSO stock is up over 35%, but shares are down year-to-date by over 60%. Friday’s price action sent shares higher just one day after the stock threatened to make a new 52-week low below $0.99. While the consensus, one-year price target for Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) is 43, that figure could change as news is absorbed about potential sales revenues through the global automobile manufacturer.

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 $EKSO 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.

Gevo, Inc. (NASDAQ:GEVO)

Will Gevo, Inc. (NASDAQ:GEVO) Earnings Surprise?

Gevo, Inc. (NASDAQ:GEVO)

Gevo, Inc. (NASDAQ:GEVO) will be releasing their Q3 2017 earnings announcement after the market closes on Monday, November 6, 2017. According to reports, industry analysts are expecting Gevo to report a (-$0.41) per share loss for Q3 2017.

Gevo, Inc. (NASDAQ:GEVO)

Gevo, Inc. (NASDAQ:GEVO), based in Englewood, Colorado, is a green technology and biofuels company. Gevo has developed proprietary technology to produce isobutanol, as well as related products, from renewable feedstocks. Gevo’s business focuses on bio-based alternatives to petroleum-based products. Gevo produces isobutanol, ethanol, and high-value animal feed at its fermentation plant in Luverne, Minnesota.

Gevo Q3 Business Advances

On July 25, 2017, Gevo announced, working with Praj Industries Ltd., that Gevo’s proprietary isobutanol technology would be available for licensing to sugar-cane processors. Licensing efforts have focused on Praj plants located in India, South America and South-East Asia, with initial capacity targeted to come on-line in 2019 or 2020.

On October 9, 2017, Gevo, Inc. (NASDAQ:GEVO) announced that it will be partnering with the Los Alamos National Laboratory (LANL) on a project to improve the energy density of certain Gevo high energy density fuels (HEDFs), such as its alcohol-to-jet-fuel (ATJ). HEDFs are currently used in U.S. military air and sea-launched cruise missiles. If this project is successful in scaling HEDFs cost-effectively, there may be an even broader application in the general aviation sector.

GEVO Stock Performance

GEVO stock has been trading under $1 since mid-May. Technically, this puts the company in violation of NASDAQ Rule 5550(a)(2) which states that “(a) Continued Listing Requirements for Primary Equity Securities: (2) Minimum bid price of at least $1 per share.”

When the performance of Gevo, Inc. (NASDAQ:GEVO) shares is adjusted for dilution, the per share losses seem eye-popping. In 2012 the per share loss was (-$558.37). That loss was spread out over just 110,000 outstanding shares in 2012. By 2016 the per share loss was (-$9.68) and the number of outstanding shares was 3.85 million.

Two firms follow Gevo, Inc. (NASDAQ:GEVO). One rates GEVO stock as a “Strong Buy” while the other rates the shares as a “Hold”. Their analysts’ consensus, one-year price target is $8.50. However, GEVO stock has lost over 80% of its value in the past year and is 92% below its 52-week high of $9.00.

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 $GEVO 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.