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>>> Intuitive Machines Stock Soars on New NASA Contract. This Is Big.
Barron's
by Al Root
Sept 17, 2024
https://www.barrons.com/articles/intuitive-machines-stock-price-nasa-34824402?siteid=yhoof2
Shares of space technology provider Intuitive Machines rocketed Wednesday after the company announced another contract with NASA.
The stock surged 38% to close at $7.47 a share, while the S&P 500 and Dow Jones Industrial Average were off 0.3%. Wednesday’s gain put shares up almost 200% year to date.
The rise comes after shares dropped 5.6% on Tuesday. That dip might look large, but shares have been volatile since the start of September, gaining almost 16% through Tuesday. In late August, Intuitive Machines said it had been awarded a $117 million contract to deliver six science and technology payloads to the Moon’s South Pole.
The numbers for the latest contract could dwarf that amount, potentially reaching some $4.8 billion over 10 years. Intuitive will provide “communication and navigation services for missions in the near space region, which extends from Earth’s surface to beyond the Moon.”
The contract is huge for the company. Wall Street projects 2024 and 2025 sales of $223 million and $371 million, respectively.
“This contract marks an inflection point in Intuitive Machines’ leadership in space communications and navigation,” said CEO Steve Altemus. “We’re pleased to partner with NASA, as one team, to support the Artemis campaign and endeavors to expand the lunar economy.”
Intuitive burst onto investors’ screens after launching its Odysseus lander in February. That became the first soft landing on the moon for a U.S. entity in some 50 years. Odysseus landed on the moon autonomously—the first-ever such landing for a U.S. company.
Intuitive “established itself as the leading commercial delivery entity with the first U.S. landing on the Moon since the 1970s earlier this year,” wrote Benchmark analyst Josh Sullivan in a Wednesday report. “Now with the [contract] win, Intuitive Machines has established itself as the backbone of lunar data transmission.”
He rates shares Buy and has a $10 price target for the stock. Canaccord analyst Austin Moeller rates shares Buy and has an $11 target price for the stock.
He called the deal “transformational” in a Wednesday report, adding that the company will receive an initial $150 million from NASA for the performance period beginning Oct. 1.
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>>> Why Intuitive Machines Stock Jumped Up 60% Today
by Rich Smith
Motley Fool
9-18-24
https://finance.yahoo.com/news/why-intuitive-machines-stock-mooned-140209941.html
Intuitive Machines (NASDAQ: LUNR) stock soared 60% in the first five minutes of trading Wednesday morning (up 60.4% through 9:35 a.m. ET) after NASA announced it is awarding a massive $4.8 billion moon contract to the rising space star.
The contract, dubbed "GEO to Cislunar Relay Services" covers communication services to the moon from the period of Oct. 1, 2024 through Sept. 30, 2029, and has the "option" of being extended by a further five years, through Sept. 30, 2034.
NASA + LUNR = better together
Specifically, NASA is hiring Intuitive Machines to provide communication services including "position, navigation, and timing capabilities, which are crucial for ensuring the safety of navigation on and around the lunar surface." The company will establish relays for communications between geostationary orbit (GEO, about 22,000 miles above Earth's surface) and the moon, which orbits Earth at a distance roughly 10 times that.
So basically, Intuitive will be in charge of making sure that messages sent from Earth to GEO satellites get the rest of the way to the moon, and vice versa. In its contract announcement, NASA notes that hiring the space company to handle this work will lighten the communications load on NASA's own Deep Space Network.
Is Intuitive Machines stock a buy?
And here's why this is important to investors: This contract isn't just a (much) bigger contract than the kind Intuitive Machines has been winning from NASA so far. It's an entirely new kind of work that NASA is hiring Intuitive to do.
Up until now, the space agency has hired Intuitive to land payloads on the moon for it. That's great work to have, and so far, Intuitive Machines is the only private company that's proven it's able to do it. Now the company is growing into a new field of business -- space communications -- and it looks very much like it could be a billion-dollar-a-year business for Intuitive Machines.
This is a clear-cut win for Intuitive Machines stock, and investors are right to be happy about it.
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>>> Climb Global Solutions Reports Second Quarter 2024 Results and Announces Acquisition of Douglas Stewart Software & Services, LLC
Climb Global Solutions, Inc.
Aug 6, 2024
https://finance.yahoo.com/news/climb-global-solutions-reports-second-200500904.html
Net Sales up 13% to $92.1 Million; Net Income up more than 2x to $3.4 Million or $0.75 per Share; Adjusted EBITDA up 48% to $6.9 Million
Acquisition Establishes Climb as a Leader in the North America Education Sector While Expanding its Product Offerings
Transaction Expected to be Accretive to Earnings per Share and Adjusted EBITDA
EATONTOWN, N.J., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Climb Global Solutions, Inc. (NASDAQ:CLMB) (“Climb”, the “Company”, “we”, or “our”), a value-added global IT channel company providing unique sales and distribution solutions for innovative technology vendors, is reporting results for the second quarter ended June 30, 2024. The Company is also announcing the acquisition of Douglas Stewart Software & Services, LLC (“DSS”), a leading specialist distributor of software to the education market in North America.
Second Quarter 2024 Summary vs. Same Year-Ago Quarter
Net sales increased 13% to $92.1 million.
Adjusted gross billings (a non-GAAP financial measure defined below) increased 31% to $359.8 million.
Net income increased more than 2x to $3.4 million or $0.75 per diluted share.
Adjusted net income (a non-GAAP financial measure defined below) increased 19% to $3.8 million or $0.83 per diluted share.
Adjusted EBITDA (a non-GAAP financial measure defined below) increased 48% to $6.9 million.
Management Commentary
“Our Q2 results were highlighted by another period of solid growth and improved profitability as we generated a double-digit increase in net sales and material increases in adjusted gross billings, net income and adjusted EBITDA,” said CEO Dale Foster. “This was driven by the continued execution of our core strategy – generating organic growth by deepening relationships with existing vendors, signing new cutting-edge technologies to our line card, and delivering on our acquisition objectives.
“Today, we are also announcing the acquisition of Wisconsin-based IT distributor DSS, adding scale and expertise to our N.A. operations along with 20 new vendor partners including Adobe, Go Guardian and Incident IQ. DSS has delivered consistent growth through a subscription-based software licensing model, built on an 85%+ retention rate for its strategic vendor partners’ offerings. DSS is a proven leader in the EdTech channel and provides services to more than 500 value-added resellers and 250 campus stores across N.A. in both the K-12 and higher education markets. We are pleased to welcome Chuck Hulan and his team to the Climb family and look forward to unlocking synergies and cross-selling opportunities while advancing shared cloud marketplace initiatives as we integrate DSS into our platform in the months ahead.
“As we enter the back half of the year, we have a solid foundation in place to continue driving strong organic growth while further improving operating leverage through the recent implementation of our new ERP. As we move into 2025, we anticipate the increased amortization expense associated with the ERP will be offset through planned operating synergies in our global platform. We will also continue to evaluate M&A opportunities that can enhance our service and solutions, in addition to our geographic footprint. These initiatives along with our robust balance sheet will enable us to deliver on both our organic and inorganic growth objectives in 2024 and beyond.”
Dividend
Subsequent to quarter end, on August 6, 2024, Climb’s Board of Directors declared a quarterly dividend of $0.17 per share of its common stock payable on August 22, 2024, to shareholders of record on August 16, 2024.
Second Quarter 2024 Financial Results
Net sales in the second quarter of 2024 increased 13% to $92.1 million compared to $81.7 million for the same period in 2023. This reflects organic growth from new and existing vendors, as well as contribution from the Company’s acquisition of DataSolutions Holdings Limited (“DataSolutions”) in October 2023. In addition, adjusted gross billings in the second quarter of 2024 increased 31% to $359.8 million compared to $274.7 million in the year-ago period.
Gross profit in the second quarter of 2024 increased 36% to $18.6 million compared to $13.7 million for the same period in 2023. The increase was driven by organic growth from new and existing vendors in both North America and Europe, as well as contribution from DataSolutions.
Selling, general, and administrative (“SG&A”) expenses in the second quarter of 2024 were $13.0 million compared to $11.6 million in the year-ago period. DataSolutions represented the majority of the increase at $1.3 million. SG&A as a percentage of adjusted gross billings decreased to 3.6% for the second quarter of 2024 compared to 4.2% in the year-ago period.
Net income in the second quarter of 2024 increased more than 2x to $3.4 million or $0.75 per diluted share, compared to $1.4 million or $0.31 per diluted share for the same period in 2023. Adjusted net income increased 19% to $3.8 million or $0.83 per diluted share, compared to $3.2 million or $0.72 per diluted share for the year-ago period. The Company’s earnings per diluted share in the second quarter of 2024 were negatively impacted by $0.03 in FX compared to the prior year quarter.
Adjusted EBITDA in the second quarter of 2024 increased 48% to $6.9 million compared to $4.7 million for the same period in 2023. The increase was primarily driven by organic growth from both new and existing vendors, as well as contribution from the Company’s acquisition of DataSolutions. Effective margin, which is defined as adjusted EBITDA as a percentage of gross profit, increased 310 basis points to 37.3% compared to 34.2% for the same period in 2023.
On June 30, 2024, cash and cash equivalents were $48.4 million compared to $36.3 million on December 31, 2023, while working capital increased by $2.8 million during this period. The increase in cash was primarily attributed to DataSolutions cash balance and the timing of receivable collections and payables. Climb had $1.0 million of outstanding debt on June 30, 2024, with no borrowings outstanding under its $50 million revolving credit facility.
For more information on the non-GAAP financial measures discussed in this press release, please see the section titled, “Non-GAAP Financial Measures,” and the reconciliations of non-GAAP financial measures to their nearest comparable GAAP financial measures at the end of this press release.
Acquisition of Douglas Stewart Software & Services, LLC
Climb closed on the acquisition of DSS on July 31, 2024, for an aggregate purchase price of $20.3 million payable at closing (subject to working capital and other adjustments), plus a potential post-closing earn-out. Climb funded the acquisition of DSS utilizing cash from the Company’s balance sheet.
DSS is a Wisconsin-based, specialist IT distributor focused on SaaS solutions for education customers serving resellers in the North America reseller market and was a separate division of the privately-held Douglas Stewart Company. For the trailing twelve months ended June 30, 2024, DSS reported adjusted EBITDA of approximately $5.3 million, which was up 10% over the same period in the prior year.
Conference Call
The Company will conduct a conference call tomorrow, August 7, 2024, at 8:30 a.m. Eastern time to discuss its results for the second quarter ended June 30, 2024.
Climb management will host the conference call, followed by a question-and-answer period.
Date: Wednesday, August 7, 2024
Time: 8:30 a.m. Eastern time
Toll-free dial-in number: (800) 245-3047
International dial-in number: (203) 518-9765
Conference ID: CLIMB
Webcast: Climb’s Q2 2024 Conference Call
If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.
The conference call will also be available for replay on the investor relations section of the Company’s website at www.climbglobalsolutions.com.
About Climb Global Solutions
Climb Global Solutions, Inc. (NASDAQ:CLMB) is a value-added global IT distribution and solutions company specializing in emerging and innovative technologies. Climb operates across the US, Canada and Europe through multiple business units, including Climb Channel Solutions, Grey Matter and Climb Global Services. The Company provides IT distribution and solutions for companies in the Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & ALM industries.
Additional information can be found by visiting www.climbglobalsolutions.com.
About Douglas Stewart Software & Services, LLC
DSS is a trusted expert in educational technology, spanning back over 37 years. With decades of experience and a commitment to innovation, DSS continues to lead the way in delivering cutting-edge solutions to empower educators and enhance learning experiences. DSS stands at the forefront of education technology distribution in North America.
Operating as a dynamic business unit of the Douglas Stewart Company, where education has been a focus since 1950, DSS works with top-tier Edtech providers to deliver solutions to K-12, Higher Ed, & Non-Profits through 800+ reseller partners. DSS was established in 2021 to cater to the distinct requirements of software subscription licensing (Software as a Service/SaaS) in North America.
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>>> M-tron Industries, Inc. Reports Strong Second Quarter 2024 Results with Further Margin Expansion
Business Wire
Aug 14, 2024
https://finance.yahoo.com/news/m-tron-industries-inc-reports-130100152.html
ORLANDO, Fla., August 14, 2024--(BUSINESS WIRE)--M-tron Industries, Inc. (NYSE American: MPTI) (the "Company" or "MPTI"), a designer and manufacturer of highly-engineered electronic components used to control the frequency or timing of signals in electronic circuits, announced strong financial results for the three and six months ended June 30, 2024 with net income increasing 36.6% to $1,744,000, or $0.63 per diluted share, in Q2 2024 compared to $1,277,000, or $0.47 per diluted share, in Q2 2023.
MPTI's Chief Executive Officer, Michael J. Ferrantino, said, "Our strategy is working; our business has been trending up since the Company’s listing in 2022, and are pleased to report results that continue to be very positive. We expect revenues, new orders and earnings to remain strong and trend higher. In addition, our order backlog trend since listing is positive and anticipated to continue to grow."
The Company will hold an Investor call on Thursday, August 15, 2024, to discuss the Company's second quarter 2024 results and to respond to investor questions (see details below). An archive of the call will be available on MPTI's website at https://ir.mtronpti.com/events-and-presentations.
Strong Results from Operations Continue Since 2022 Listing
Strategic investments in the defense sector, several new products moving into volume production, and operating efficiencies have resulted in the Company achieving significant improvements since its IPO in October 2022. Importantly, the company made a significant investment in its employees with a broad option incentive grant earlier this year aligning the strength of its platform with its team.
Since MPTI's October 2022 IPO, the business has grown significantly as highlighted below:
Revenues increased 67.2% to $11,808,000 in Q2 2024 compared to $7,064,000 in Q2 2022
Net income increased 258.8% to $1,744,000 in Q2 2024 compared to $486,000 in Q2 2022
Gross margin improved to 46.6% in Q2 2024 compared to 37.5% in Q2 2022
Adjusted EBITDA increased 200.0% to $2,523,000 in Q2 2024 compared to $841,000 in Q2 2022
The opportunities with new engineering and designs continues to drive future growth, while manufacturing throughput improvement is helping increase margin expansion. Further, we are pleased to have initiated a stock option program earlier this year allowing the professionals at MPTI an opportunity to share in the business’s growth.
Mr. Ferrantino added, "As we report strong results, our team's pursuit of excellence accelerates as reflected in the value creation since IPO. This continued growth and success are a testament to our dedicated professional staff and their unwavering commitment to delivering exceptional value to our customers. We remain steadfast in our mission to innovate, adapt, and lead in our industry, driving sustainable growth and creating long-term value for all stakeholders."
"MPTI is a uniquely positioned American-made Defense product platform and presents an improved outlook for the business moving forward," continued Mr. Ferrantino.
Second Quarter 2024
Net income was $1,744,000, or $0.63 per diluted share, for the three months ended June 30, 2024 compared with $1,277,000, or $0.47 per diluted share, for the three months ended June 30, 2023. The increase was primarily due to continued strong defense program product and solution shipments partially offset by higher Manufacturing cost of sales consistent with the growth in revenues as well as higher Engineering, selling and administrative expenses from increased investment in research and development, higher sales commissions related to an increase in revenues, and an increase in administrative and corporate expenses consistent with the overall growth in the business.
Gross margin was 46.6% for the three months ended June 30, 2024 compared with 41.6% for the three months ended June 30, 2023. The increase was primarily due to higher revenues, improved production efficiencies due to previous investments, and an improved product mix to higher margin products.
Adjusted EBITDA was $2,523,000, or $0.91 per diluted share, for the three months ended June 30, 2024 compared with $1,931,000, or $0.71 per diluted share, for the three months ended June 30, 2023. The increase was primarily due to increased gross margins; continued containment of operating expenses other than strategic investments in research and development, resulting in higher income before taxes; higher depreciation; and higher stock-based compensation partially offset by higher interest income.
Results in Second Quarter 2024 and Since Second Quarter 2022
Revenues increased 16.4% to $11,808,000 in Q2 2024 compared to $10,140,000 in Q2 2023, driven by strong defense program shipments, and increased 67.2% from $7,064,000 in Q2 2022 as the mix shifts developed
Net income increased 36.6% to $1,744,000, or $0.63 per diluted share, in Q2 2024 compared to $1,277,000, or $0.47 per diluted share, in Q2 2023 and increased 258.8% from $486,000 in Q2 2022
Gross margin improved to 46.6% in Q2 2024, an increase of 12.0% from Q2 2023, and an increase of 24.3% from Q2 2022, reflecting improved production efficiencies and product mix
Adjusted EBITDA increased 30.7% to $2,523,000 in Q2 2024 compared to $1,931,000 in Q2 2023 and increased 200.0% from $841,000 in Q2 2022
Improved 2024 Outlook
With the continued momentum in defense-related sales, and the acceleration in production and shipments during the first half of 2024, MPTI management has raised the outlook for fiscal year 2024, increasing revenues to a range of $46.0 million to $48.0 million from a previous range of $43.0 million to $45.0 million. MPTI has good visibility for the remaining two quarters of 2024 and expects EBITDA to continue to be in the 19% to 21% range.
The foregoing statements represent the Company's current estimates of MPTI's 2024 consolidated revenues as of the date of this release. Actual results may differ materially depending on a number of factors. Investors are urged to read the Cautionary Note Concerning Forward Looking Statements included in this release. Management does not assume any obligation to these estimates.
Fiscal Year to Date 2024
Net income was $3,230,000, or $1.16 per diluted share, for the six months ended June 30, 2024 compared with $1,830,000, or $0.68 per diluted share, for the six months ended June 30, 2023. The increase was primarily due to higher sales related to strong defense program product shipments partially offset by higher Manufacturing cost of sales consistent with the growth in revenues as well as higher Engineering, selling and administrative expenses related to increased investment in research and development, higher sales commissions related to an increase in revenues, and an increase in administrative and corporate expenses consistent with the overall growth in the business.
Gross margin was 44.7% for the six months ended June 30, 2024 compared with 38.0% for the six months ended June 30, 2023. The increase was primarily due to higher revenues, improved production efficiencies due to previous investments, and an improved product mix to higher margin products.
Adjusted EBITDA was $4,785,000, or $1.72 per diluted share, for the six months ended June 30, 2024 compared with $2,959,000, or $1.09 per diluted share, for the six months ended June 30, 2023. The increase was primarily due to increased gross margins; a continued containment of operating expenses other than strategic investments in research and development, resulting higher income before income taxes; higher depreciation; and higher stock-based compensation partially offset by higher interest income.
Backlog
Backlog was $45,322,000 as of June 30, 2024 compared to $47,831,000 as of December 31, 2023 and $51,591,000 as of June 30, 2023. The decrease in Backlog from December 31, 2023 reflects the increase in revenues along with the variability of our order intake due to the size and timing of large program-related orders.
Strategic Direction Continues
"We delivered a solid performance in the quarter, with significant improvements in our financial results," said Bel Lazar, Chairman. "Our teams continue to execute well, driving both top-line growth and margin expansion across our businesses. Our commitment to achieving our Investor Day targets remains strong, with clear progress in our new products, pricing and efficiency initiatives. With this momentum we are confident in our continued success and growth."
Mr. Lazar continued regarding the Company’s strategy, "Our organic strategy continues to be providing complex, integrated assemblies. This will begin to surface in revenue growth. The dollar value of some of these projects can be substantial.
"As for our external strategy, we have increased our acquisition bandwidth to include companies that are inside and outside of our current space. We will look outside of our sub sector for undervalued companies much like ours where we can rapidly drive top and bottom-line growth. Our motivation continues to be increasing shareholder value as quickly as we can," added Mr. Lazar.
We see the ongoing development along several new and exciting growth verticals for the period ahead such as:
Space and Satellite: MPTI has over 125 design wins across satellite platforms and manned spacecraft. With expertise supporting LEO, MEO and GEO applications, the Company has a well-established team and a proven track record to meet demanding space requirements. With the evolving need for high-power space-level transmitters, high-power handling space-level RF components and sub-assemblies are instrumental for mission success. The performance of these devices used in orbiting satellites are significantly different compared to how they perform at sea level due to phenomena like multipaction. Some space-level applications require both continuous operation performance in outer space as well as performance during the assent to space while undergoing a pressure change.
Radar: Our latest line of timing solutions designed to meet the stringent requirements of modern radar applications is expect to further growth. For example, our e-Vibe™ series of Electronically Compensated OCXOs are designed to maintain exceptional phase-noise under dynamic conditions, meeting the rigorous demands of radar systems on the move or experiencing shock or vibration. Our radar integrated timing solutions: custom timing solutions integrating precision timing sources with additional components with maximum reliability and performance. Our systems offer excellent Phase-noise: output frequencies with extremely low phase-noise, guaranteeing reliable operation over extended periods, temperatures, and environments. Also, our systems offer Ruggedized Design and Flexible Configurations for durability and longevity, with both standard and custom output frequencies.
Electronic Warfare: As demand increased for frequencies above 2 GHz, we developed the ability to design and manufacture planar filters utilizing interdigital, combline, hairpin, edge coupled and end coupled topologies. MPTI introduced our new Planar Filter Product Line to complement our over 59 years MPTI of designing and manufacturing various topology filters for our Industrial, Commercial, Space, Aerospace and Defense customers. With Extremely Small Size and Low Height and Stable Over a Wide Temperature Range, MPTI’s planar filters support the demands of rugged, high-performance applications needs growing with the development of Electronic Warfare.
Investor Call
Management, including MPTI's CEO, Michael Ferrantino, will host a conference call with the investment community on Thursday, August 15, 2024, to discuss the Company's second quarter 2024 results and to respond to investor questions.
The call will begin at 10:30 a.m. Eastern Time (U.S. and Canada) on Thursday August 15, 2024, and can be accessed using the dial-in details below:
Toll-Free Dial-in Number:
(800) 715-9871
Toll Dial-in Number:
+1 (646) 307-1963
Conference ID:
8891215
An archive of the call will be available after the call on Events and Presentations page on the Investor Relations section of MPTI’s website at https://ir.mtronpti.com/events-and-presentations, along with MPTI’s earnings release.
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>>> M-tron Industries, Inc. (MPTI) engages in the design, manufacture, and marketing of frequency and spectrum control products in the United States and internationally. The company's products include radio frequency, microwave, and millimeter wave filters; cavity, crystal, ceramic, lumped element, and switched filters; high frequency and performance OCXOs, integrated PLL OCXOs, TCXOs, VCXOs, and low jitter and harsh environment oscillators; crystal resonators, integrated microwave assemblies; and solid-state power amplifier products. Its products are used in applications in the commercial and military aerospace, defense, space, avionics, and other markets. The company was founded in 1965 and is headquartered in Orlando, Florida.
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https://finance.yahoo.com/quote/MPTI/profile/
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>>> Hyliion Awarded Government Contract to Create a Megawatt-Scale Concept of the KARNO Generator Technology for the United States Navy
Business Wire
Aug 8, 2024
https://finance.yahoo.com/news/hyliion-awarded-government-contract-create-123000371.html
AUSTIN, Texas, August 08, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a developer of sustainable electricity-producing technology, is pleased to announce that it has been awarded a Small Business Innovation Research (SBIR) government contract by the United States Navy. Phase 1 of the award, N241–060, will allow Hyliion to create a preliminary design of a modular generator system that integrates the Navy’s specifications with Hyliion’s cutting-edge KARNO™ generator technology.
With this contract, Hyliion will showcase a design concept of the KARNO generator in a megawatt-scale modular system. The system will be engineered to offer a versatile and flexible approach to meet the U.S. government's Unmanned Surface Vessel (USV) cross-platform requirements, scalable to various power needs and adaptable to the available platform space. Hyliion plans to leverage its foundational 200-kilowatt (kW) KARNO genset, combining multiple units together to achieve the desired power output.
"We are honored to receive this SBIR contract from the United States Navy," said Thomas Healy, Founder and CEO of Hyliion. "This award is a testament to the KARNO generator’s expected ability to offer efficient, flexible, and low-maintenance power generation. We are excited to contribute to the Navy’s mission and explore higher power solutions for their USV initiative."
The SBIR program is an initiative that supports scientific excellence and technological advancements by investing federal research funds in key American priorities aimed at strengthening the national economy and defense infrastructure. The primary objective of the N241-060 program is to develop and demonstrate a megawatt (MW) scale, ultra-reliable, and efficient USV modular generator concept tailored to the Navy’s requirements. This concept involves configuring smaller kW-scale building block power units in a high-density package to achieve a 4,000-hour no-touch maintenance periodicity for continuous operation in a naval environment.
This government contract underscores Hyliion's commitment to innovation and its leadership in developing sustainable energy solutions. The KARNO generator, with its exceptional form factor and ability to operate on multiple fuels, including NATO F-76, is ideally suited for the Navy’s USV program. The system’s hermetically sealed architecture, with only one moving part per shaft, is designed for maintenance-free operation over long running hours.
For more information on Hyliion or the KARNO generator, please visit www.hyliion.com.
For additional details on the SBIR, please visit https://www.navysbir.com/n24_1/N241-060.htm.
About the KARNO Generator
The KARNO generator is a linear heat generator that leverages advanced 3D metal printed components and proprietary flameless oxidation technology to produce clean electricity. Modular in design, the generator is expected to show an improvement in fuel efficiency, require significantly lower maintenance costs and have a much lower emissions profile than conventional generators. It is also capable of operating on over 20 different fuels, including hydrogen, natural gas, propane, ammonia and conventional fuels.
About Hyliion
Hyliion is committed to creating innovative solutions that enable clean, flexible, and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable generator that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please visit www.hyliion.com.
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>>> Hyliion and Jardine Engineering Corporation Sign Memorandum of Understanding to Explore the KARNO Generator's Potential in Asian Power Generation Markets
Business Wire
Aug 19, 2024
https://finance.yahoo.com/news/hyliion-jardine-engineering-corporation-sign-123000429.html
AUSTIN, Texas, August 19, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a developer of sustainable electricity-producing technology, today announced that it has entered into a non-binding Memorandum of Understanding (MOU) with Jardine Engineering Corporation Limited ("JEC").
The MOU represents the first step toward a commitment from both companies to work together to explore the potential of Hyliion’s advanced KARNOTM technology in power generation projects and to collaborate jointly on select business opportunities in Hong Kong, Macau, and other markets where JEC operates. The KARNO generator is a groundbreaking fuel-agnostic solution that utilizes a linear generator architecture to produce electricity both economically and efficiently. Capable of operating on various fuels, including hydrogen, natural gas, biogas, and propane, the generator is expected to offer lower maintenance costs and a significantly reduced emissions profile compared to conventional technologies.
With a history dating back to 1923, JEC is one of the key leaders of power system business in Hong Kong and represents top brand electric generator suppliers from the US and Europe. Headquartered in Hong Kong, JEC is a listed specialist contractor for public works and is a premier provider of electrical and mechanical engineering solutions in the Asia Pacific region. This relationship aims to leverage the advanced capabilities of Hyliion’s KARNO generator, along with JEC's extensive domain knowledge, market presence, and project implementation capabilities, to provide innovative, sustainable power solutions in this dynamic region.
"Hyliion's KARNO generator technology aligns perfectly with our commitment to providing advanced and sustainable engineering solutions," stated Mr. Noky Wong, Chief Executive of JEC. "This collaborative effort with Hyliion represents a strategic step forward in advancing our capabilities and offerings in the power systems sector. Together, we look forward to exploring new ways to enable our customers to achieve engineering breakthroughs in ever more efficient and sustainable ways."
Thomas Healy, Founder and CEO of Hyliion, added, "We are thrilled to partner with JEC, a leader in integrated power systems with a strong presence in Asia. This collaboration is a significant step in our mission to provide sustainable and innovative energy solutions globally. By combining our innovative KARNO technology with JEC’s extensive market knowledge and engineering expertise, we are confident in delivering exceptional value and performance to meet the evolving energy needs of our customers worldwide."
The MOU between Hyliion and JEC is subject to the execution of a binding agreement. For more information about Hyliion and its innovative electrification solutions, please visit hyliion.com. For more information about Jardine Engineering Corporation Limited and how it helps engineer a better Asia, please visit jec.com.
About JEC
JEC is a leading provider of engineering services, sourcing, and contracting expertise. It enables customers to operate their facilities at world-class standards by providing the professional expertise to design, supply, and install building and specialized processes; facility operation and management; asset enhancement and energy management; and the sourcing of electrical and mechanical equipment and architectural fixtures.
JEC is headquartered in Hong Kong and operates throughout Asia. JEC is a member of the Jardine Matheson Group.
About Hyliion
Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable generator that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy.
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>>> Intuitive Machines Earnings Reveal Surprise Profit. Why the Stock Is Down Anyway.
Bloomberg
by Al Root
Aug 15, 2024
https://www.barrons.com/articles/intuitive-machines-earnings-stock-price-3a0c6766?siteid=yhoof2
Space start-up Intuitive Machines reported a surprise quarterly profit on Tuesday. Still, shares fell in early trading.
For the second quarter, Intuitive reported earnings of 29 cents a share from sales of $41.4 million. Wall Street was looking for an 18-cent loss from sales of $46.6 million, according to FactSet.
The profit is a surprise but boils down to accounting for items such as warrants. Intuitive’s operating loss in the quarter amounted to $28.2 million, higher than the $9 million loss analysts had expected.
Intuitive is still a relatively young company and sales matter more than earnings at this point. While sales missed estimates analyst estimates, they still grew about 130% year over year. What’s more, Intuitive raised the low end of its full-year guidance. The company now expects 2024 sales to fall between $210 million to $240 million. The prior range was $200 million to $240 million. Analysts project 2024 sales of about $228 million.
Wall Street doesn’t project consistent profits for Intuitive until late 2025 when sales top $100 million per quarter. Revenue is generated by offering payload services to NASA and other private companies.
Intuitive ended the quarter with about $34 million in cash on its books. The company used about $42 million to build its business in the first half of the year.
Intuitive stock closed down 1.3% at $3.67 in Tuesday trading while the S&P 500 and Dow Jones Industrial Average rose 1.7% and 1%, respectively.
Coming into Tuesday trading, Intuitive shares were up about 46% year to date. Shares got a big boost early in 2024 from Intuitive’s successful mission of sending a spacecraft for NASA to the moon. The company’s Odysseus spacecraft was the first U.S. lander sent there in more than 50 years.
NASA is leaning hard on commercial service providers these days. Odysseus left Earth on a SpaceX rocket in February before touching down near the moon’s South pole.
NASA plans at least two more missions to the moons using Intuitive landers.
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>>> Mitek Systems (NASDAQ:MITK) helps businesses manage identity verification processes which is all the more important today as deepfakes, fraudsters and all-around bad actors try to subvert systems for pleasure and profit. The company leverages AI to do so by applying computer vision and machine learning to validate real-time visualizations from users and customers.
https://finance.yahoo.com/news/7-ai-stocks-overlooked-sectors-104200970.html
Industry experts recognize Mitek’s strength among AI stocks and awarded the firm the “Authentication Innovation Award” at a recent AI Breakthrough Awards program. Judges based Mitek’s strength on its four-fold, AI-enabled verification system that combines selfies, liveness validation to mitigate bot and deepfake photos, voice biometrics and voice liveness.
Though not yet wildly profitable, Mitek is nevertheless a solid performer, hitting a 1 cent EPS in its most recent quarterly report, and expects the fiscal year’s remainder to offer a 6% sales growth rate and land between $180 and $185 million. Moreover, Mitek is able to accomplish something that many small-cap AI stocks can’t: repurchase shares to improve shareholder value. The company just announced a $50 million buyback program over the next two years.
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>>> Mitek Systems, Inc. (MITK) provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion. The company also offers MiSnap, a mobile-capture software development kit that enables an intuitive user experience and instant capture of quality images of identity documents and checks. CheckReader enables financial institutions to automatically extract data from checks once they have been scanned or photographed by the application; Check Fraud Defender, an AI-powered and cloud-hosted model for fighting check fraud; and Check Intelligence that enables financial institutions to automatically extract data from a check image received across any deposit channel, including branch, ATM, remote deposit capture, and mobile. In addition, it provides MiVIP, an end-to-end KYC platform that allows companies to design, build, and deploy robust KYC journeys with little or no development resources; and MiPass provides protection against most sophisticated forms of identity theft and dangerous fraud techniques, such as deepfakes and synthetic identities. Further, the company provides ID_CLOUD, an automated identity verification solution that is integrated into a customers' application to read and validate identity documents; IDLive Face, a passive facial liveness detection product; IDVoice, a robust AI-driven voice biometric engine; IDLive Voice to stop spoofing attacks on voice biometric systems; and IDLive Doc that works to fight fraud related to digitally displayed document images. The company was incorporated in 1986 and is based in San Diego, California.
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https://finance.yahoo.com/quote/MITK/profile/
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>>> Eco Wave Power Global AB (publ), a wave energy company, engages in the development of a wave energy conversion (WEC) technology that converts ocean and sea waves into clean electricity. The company also holds various agreements comprising power purchase agreements, concession agreements, and other agreements worldwide with pipeline of projects with approximately 404.7 megawatts. It has operations in the United States, Sweden, Israel, the British Overseas Territory of Gibraltar, Greece, Portugal, China, Australia, and internationally. The company was formerly known as EWPG Holding AB (publ) and changed its name to Eco Wave Power Global AB (publ) in June 2021. Eco Wave Power Global AB (publ) was founded in 2011 and is headquartered in Tel Aviv-Yafo, Israel.
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>>> Simulations Plus (NASDAQ:SLP) is a leading modeling and simulation software provider for drug discovery and development. The company’s innovative software platform helps pharmaceutical and biotechnology companies accelerate the drug development process, reduce costs and improve success rates. Simulations Plus’ strong market position, expanding customer base and focus on innovation position are good for continued growth. The increasing complexity of drug discovery, the growing demand for efficient drug development processes and the rising adoption of computer-aided drug design are key megatrends that support Simulations Plus’ long-term prospects.
This is another stock in the healthcare industry sort of in the same boat as TCMD. Do not expect massive returns, but the possible gains are significant enough to include in a high-risk, high-reward basket of stocks. The company beat top-line estimates by nearly 6% in the recent quarter and has some of the best margin and cash positions, with negligible debt and $108 million in cash. Revenue growth is expected to be around 15% annually and 20-30% EPS growth going forward. However, you are paying a hefty premium for this stock, so I do not think life-changing returns are possible. However, it is still one of the AI stock picks worth buying for potential double-digit returns.
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https://finance.yahoo.com/news/ai-bot-predicts-7-stocks-175326496.html
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>>> High Tide to Open Fourth Canna Cabana in Mississauga, Ontario
CNW Group
March 26, 2024
https://finance.yahoo.com/news/high-tide-open-fourth-canna-100000631.html
CALGARY, AB, March 26, 2024 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that its Canna Cabana retail cannabis store located at 925 Rathburn Rd East, Mississauga, Ontario will begin selling recreational cannabis products and consumption accessories for adult use on Thursday, March 28. This opening will mark High Tide's 167th Canna Cabana branded cannabis retail location in Canada, the 58th in the province of Ontario and the 4th in Mississauga.
This brand-new Canna Cabana is nestled within a major retail power center and is surrounded by strong anchor tenants, including a national grocery retailer, Canada's largest bulk-food retailer, and several quick-serve restaurants. Situated close to well-travelled roadways, this Canna Cabana will benefit from the many residents who come through this plaza to run their daily errands and will welcome new and existing ELITE and Cabana Club members.
"I am thrilled to announce another Canna Cabana opening in Mississauga in rapid succession. This Tomken store is another example of our thoughtful real estate strategy, where we strategically locate our stores in these retail power centers surrounded by major national anchor tenants. The coming months are brimming with more exciting Canna Cabana store openings as we look to continue our growth trajectory in Mississauga and beyond, eventually reaching 300 stores across Canada and our long-term objective to achieve 15% market share in the provinces where we operate," said Raj Grover, Founder and Chief Executive Officer of High Tide.
"Growth and innovation are in our DNA. Our Cabana Club is the first-of-its-kind discount club model in North America, which features ELITE as our paid membership tier. ELITE upgrades have been growing at their fastest pace to date, with Canna Cabana quickly becoming a household name in Canada. Our goal is to extend the reach of our Cabana Club into a global cannabis community by consolidating our 5 million plus international customers and bringing them all together into our rapidly growing membership base," added Mr. Grover.
ABOUT HIGH TIDE
High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant and is the second-largest cannabis retailer in North America by store count1. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including:
Bricks & Mortar Retail: Canna Cabana™ is the largest non-franchised cannabis retail chain in Canada, with 167 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana became the first cannabis discount club retailer in North America.
Retail Innovation: Fastendr™ is a unique and fully automated technology that integrates retail kiosks and smart lockers to facilitate a better buying experience through browsing, ordering and pickup.
E-commerce Platforms: High Tide operates a suite of leading accessory sites across the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com.
CBD: High Tide continues to cultivate the possibilities of consumer CBD through Nuleafnaturals.com, FABCBD.com, blessedcbd.de and blessedcbd.co.uk.
Wholesale Distribution: High Tide keeps that cannabis category stocked with wholesale solutions via Valiant™.
Licensing: High Tide continues to push cannabis culture forward through fresh partnerships and license agreements under the Famous Brandz™ name.
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1 As reported by ATB Capital Markets based on store counts as of February 8, 2024
High Tide consistently moves ahead of the currents, having been named one of Canada's Top Growing Companies in 2021, 2022 and 2023 by the Globe and Mail's Report on Business Magazine, and was named as one of the top 10 performing diversified industries stocks in both the 2022 and 2024 TSX Venture 50. High Tide was also ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023.
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Lightwave Logic -- Re-post - >>> Lebby is the Axe of the entire Industry!! He chairs at the major Industry conferences, he orchestrates the Industry Roadmaps, and if you would have ever come to one of the Executive Forum events you'd know that it is the top dogs of the Tier 1's who find their way over to Lebby for discussions!!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174089938
At OFC this coming week Lebby will be giving a Keynote address on Hybrid Integration, this is what LWLG's technology won the top award at ECOC 2023 for, and there will be a Panel discussion on the topic the following day as well
1) Lebby's Timeline to Mass Commercialization has remained UNCHANGED in presentations for the last few years, Lebby has told investors that LWLG would come to market at 800Gbs in 2024!!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172658420
2) Lebby has been making partnering DEALS at least as far back as ECOC 2019 when LWLG presented its META-STABILITY DATA that showed the material systems actually GAINED stability over time!!
3) Lebby's Timeline of 2024 is a PERFECT MATCH to what the industry is now showing to be the FASTEST ADOPTION EVER of a Next-Gen Node Implementation at 800Gbs set for, you guessed it, 2024!!! Check out this chart showing 800Gb adoption to be HUGE at $2 Billion starting in 2024!!! (note 800Gbs is the BLUE SHADED area)
https://investorshub.advfn.com/uimage/uploads/2023/8/19/wwenqIMG_7963.png
4) Lebby in the latest Wall Street Transcript just flat out told investors who the Customers are going to be when this thing ROLLS, which will undoubtably be in 2024 because that is what the INDUSTRY is saying will be the HUGE rollout of 800Gbs, and make NO MISTAKE when you read below who LWLG's Customers are going to be (all under NDA now!!)
TWST: Do you see your ideal customers like Cisco or whoever makes these particular modulation devices? Are they the ones who are going to buy?
Dr. Lebby: Yes, they will — a lot of these larger companies. The Ciscos of this world as well as the Intels and the Cienas, these types of players, Googles and others. A lot of these folks are actually vertically integrated. So they actually do a lot of the things themselves. And some of the parts they send out to foundries or to contract manufacturers.
As I see the business model, you need to be flexible, because some of these guys will want to buy from you direct. And other ones who will say, go work with our contract manufacturer or go work with our foundry, get qualified there, and then we’ll give you the business.
And so, we have to be flexible with these large guys, because they have different working models.
https://www.reddit.com/r/LWLG/comments/15twmqr/interview_with_dr_lebby_august_17_2023/
Ok folks, so Investors now now that the Intel's and Cisco's and Google's ARE THE CUSTOMERS that the Foundries PDK's HAVE BEEN DEVELOPED to serve!!!! Lebby has already told investors that there are PRODUCTION TRIALS in progress for at least the last 6 months but more likely a year or more!!!
PRODUCTION TRIALS!!! Nothing makes short sellers more nervous than finding out that Lightwave Logic’s foundry partners are currently running PRODUCTION TRIALS Why would they do that? “We” were convinced their technology would never scale and the fact that Lightwave Logic has never produced a product in 20 years was proof positive that they would never ever produce any revenue. We even talked to an ex employee who told us there were issues five years ago.
The worst news possible is learning about production runs because reaching that step means both parties want to produce and market this technology. In order to reach agreement on the terms of a license, both parties must be comfortable with the production economics. What level of upfront cash payment is appropriate? What percentage of gross modulator sales makes sense?
One thing is clear to me, the foundries want this technology and are already devoting machine time to be able to price the agreements. If I were short this stock, I would be fargin nervous as hell.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171355567
. This expansion of our IP moat, paired with our acquisition of the mission-critical IP assets of Chromosol Ltd (UK) to strengthen foundry PDK design capabilities with extremely low temperature ALD Processes, is a part of our ability to advance initial production trials with our foundry partners and secure our first licensing agreements in the near-term.
Corporate Update March 2, 2023
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>>> Rail Vision Received Order from a Class 1 US Railroad Company for its AI-Based Safety System
GlobeNewswire
Rail Vision Ltd.
Mar 11, 2024
https://finance.yahoo.com/news/rail-vision-received-order-class-125800866.html
Ra’anana, Israel, March 11, 2024 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology company at the forefront of revolutionizing railway safety and the data-related market, today announced that it has received an order for its AI-driven Switch Yard System from a Class 1 freight rail company in the US.
The freight rail company, which is one of the largest in North America, will install and use the system on its locomotive for evaluation and testing different scenarios related to safety.
"We believe that this new order is a milestone for Rail Vision that signifies the industry's trust in our solutions to navigate the complexities of rail operations. By leveraging AI and machine learning, we aim to transform the way railways operate, enhance safety, efficiency reliability and preserve business continuity across a railway network. This is another the beginning of our journey in North America to make rail transportation safer and more efficient for everyone", commented Rail Vision CEO, Shahar Hania.
Rail Vision’s Switch Yard System uses electro-optic sensors (including thermal and day sensors) combined with AI, machine learning and Advance Driver Assistance System (ADAS) solutions, to overcome limited vision issues that expand the range of sight and decrease downtime, while also increasing punctuality, efficiency, and safety. Rail Vision’s solutions address critical issues within the industry with its innovative AI-based Obstacle Detection System (ODS), which enables rail operators to navigate issues easily and swiftly, including on-track obstacles, accidents, high operational costs, lack of personnel, capacity, maintenance issues, heavy traffic on the tracks, extensive driving distances and harsh weather conditions.
About Rail Vision Ltd.
Rail Vision is a technology company that is seeking to revolutionize railway safety and the data-related market. The Company has developed cutting-edge, artificial intelligence-based, industry-leading technology specifically designed for railways. The Company has developed its railway detection and systems to save lives, increase efficiency, and dramatically reduce expenses for the railway operators. Rail Vision believes that its technology will significantly increase railway safety around the world, while creating significant benefits and adding value to everyone who relies on the train ecosystem: from passengers using trains for transportation to companies that use railways to deliver goods and services. In addition, the company believes that its technology has the potential to advance the revolutionary concept of autonomous trains into a practical reality.
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>>> Direct Digital Holdings (DRCT) - Investors looking for a promising micro-cap stock may want to consider Direct Digital Holdings (NASDAQ:DRCT). Micro cap stocks require more research since fewer media outlets cover them, but the company has exhibited meaningful revenue and earnings growth.
https://finance.yahoo.com/news/market-mavericks-7-growth-stocks-154037454.html
The programmatic advertising company has buy-side and sell-side platforms, with the latter doing most of the work for the company’s financials. Revenue increased by 129% year-over-year in the third quarter of 2023 which prompted the company to raise its full-year guidance.
However, the bigger win came from net income which more than quadrupled year-over-year. Net income reached $3.35 million as a part of the big surge. Guidance suggests revenue growth will remain strong for a while. However, if the company can continue to expand its net profit margins, the stock’s returns can give big tech a run for its money.
Investors have gotten excited about the stock. Shares are up by 291% over the past year which is largely due to a dramatic rally that started in mid-November. This makes it one of those growth stocks to consider.
The advertising company should report Q4 2023 earnings near the end of March. Investors who are on the fence may want to wait for those earnings to come out before making a decision.
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DRCT - >>> 3 High-Risk, High-Reward Small-Cap Stocks to Buy Now
InvestorPlace
by Marc Guberti
Feb 19, 2024
https://finance.yahoo.com/news/3-high-risk-high-reward-112700553.html
Small-cap stocks can produce some of the largest gains in the stock market. These stocks often fly under the radar because fewer analysts do the necessary research to find them. Furthermore, they aren’t plastered all over the news like the Magnificent Seven stocks. This has led to this list of high-risk, high-reward small-cap stocks.
Investing in small cap stocks is riskier because there’s more research involved. You won’t be able to turn to many media sources to find this information, and you will have to interpret earnings reports and stay on top of release dates.
This line of investing can be rewarding, and you will discover three stocks that fit the category. While small cap stocks comprise of stocks with market caps between $250 million and $2 billion, this list will include a company that is well on its way to becoming a small-cap and another firm that recently graduated from the category.
Direct Digital Holdings (DRCT)
Direct Digital Holdings (NASDAQ:DRCT) isn’t quite a small-cap stock, but it may have joined the class by the time you read this article. The equity has a $240 million market cap and trades at a 54 P/E ratio. However, shares trade at a more attractive 18 forward P/E ratio. Shares are up by over 500% since the start of November.
The programmatic advertising company’s Q3 2023 earnings report explains why it has attracted more investors. Revenue increased by 129% year-over-year while the company expects to deliver 101% year-over-year revenue growth for the full year. That’s an acceleration from the previous two quarters’ growth rates.
Direct Digital Holdings makes most of its revenue from Colossus, its sell-side advertising platform. Revenue from this platform surged by 174% year-over-year while buy-side advertising revenue went up by 10% year-over-year. Luckily, more than 85% of the company’s total revenue comes from its sell-side platform.
The advertising firm’s net income more than quadrupled in this quarter. If DRCT can maintain high net income growth and get its profit margins in the double-digits, this stock can generate significant returns for long-term investors. This makes it one of those high-risk, high-reward small-cap stocks to buy.
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>>> Direct Digital Holdings, Inc. (DRCT) operates as an end-to-end full-service programmatic advertising platform. The company's platform primarily focuses on providing advertising technology, data-driven campaign optimization, and other solutions to underserved and less efficient markets on both the buy- and sell-side of the digital advertising ecosystem. It serves various industry verticals, such as travel, healthcare, education, financial services, consumer products, and other sectors with a focus on small and mid-sized businesses. The company was founded in 2018 and is headquartered in Houston, Texas. <<<
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>>> Hyliion Holdings Reports Fourth-Quarter and Full-Year 2023 Financial Results
Business Wire
Feb 13, 2024
https://finance.yahoo.com/news/hyliion-holdings-reports-fourth-quarter-213000641.html
AUSTIN, Texas, February 13, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a developer of sustainable electricity-producing technology, today reported its fourth-quarter and full-year 2023 financial results.
Key Business Highlights
Announced today, the KARNOTM generator is expected to qualify for up to a 40% tax credit under the Inflation Reduction Act’s Infrastructure Tax Credit (ITC)
Announced today, Detmar Logistics executed a letter of intent for an initial KARNO unit to be deployed in the Permian Basin to operate on waste flare gas
Executed a letter of intent to provide KARNO generators to GTL Leasing
Confirmed plans to deliver initial KARNO generator units to customers in late 2024
Began printing production-intent design components of the KARNO generator
Successfully tested KARNO reactor technology on unprocessed Permian Basin gas; results surpassed emissions standards by 98% for CO and 76% for NOx
Appointed Govindaraj Ramasamy as Chief Commercial Officer
Announced $20 million Stock Repurchase Program
Ended the year with $291 million of total cash and investments
Guidance of $40 to $50 million cash expenditures for KARNO development in 2024
Executive Commentary
"I’m pleased to report that the company’s strategic shift to wind down powertrain operations and focus on our KARNO generator is on track, with significant achievements made in advancing our generator technology and engaging prospective customers during the quarter," said Hyliion’s Founder and CEO, Thomas Healy. "We expect to deliver the initial KARNO generator deployment units with customers late in 2024 followed by a ramp-up in production and additional deliveries in 2025."
KARNO Commercial Updates
Today, the company announced that, under the Inflation Reduction Act, the KARNO generator is expected to be characterized the same as a fuel cell, enabling customers to qualify for up to a 40% tax credit under the current ITC.
Hyliion is addressing the commercial power market first with a locally-deployable 200kW generating system which it intends to deliver to initial deployment customers in late 2024. To lead these efforts, Hyliion recently hired former Cummins powergen executive, Govi Ramasamy, as Chief Commercial Officer.
Hyliion also announced today that Detmar Logistics has executed a non-binding letter of intent for a KARNO generator and to be part of Hyliion’s early adopter program. Detmar, who supplied Hyliion with test gas from the Permian Basin, intends to operate their unit on waste flare gas to produce electricity at oil & gas sites, without the need for pre-treating the gas.
In addition to Detmar, Hyliion also announced a non-binding letter of intent with GTL Leasing to deliver two KARNO generators for their portable electric vehicle recharging business. Other customers’ letters of intent are in place or being finalized to represent the remaining planned deployments in 2024 and initial deliveries in 2025. Hyliion plans for initial deployments to represent a broad range of applications, including vehicle charging, waste gas fuel sourcing, and prime power generation.
KARNO Generator Development
Hyliion is developing a revolutionary new electrical generator powered by a linear heat motor that is expected to deliver step-change improvements in performance characteristics compared to conventional generating systems, including efficiency, emissions, maintenance requirements, noise levels and fuel flexibility. The KARNO generator is enabled by the latest advances in additive manufacturing technology. Hyliion hosted a Technology Fireside Chat in December 2023 during which Thomas Healy and Josh Mook, Chief Technology Officer, explained the capabilities and advantages of the generator.
Recent technological advancements include beginning to print production-intent design parts of the BETA design of the KARNO generator. The BETA generator design will go through validation throughout 2024 and then is expected to be ready for customer deployments later this year.
The company also tested unprocessed flare gas that was collected from the Permian Basin and confirmed the ability for the KARNO reactor to operate on this fuel, showcasing the fuel agnostic characteristics of the generator. Recent test results on this fuel highlight that the KARNO’s flameless oxidation process is expected to surpass current EPA Tier 4 emissions standards by 98% for CO and 76% for NOx with no additional aftertreatment or catalyst needed.
Powertrain Wind-Down
In November 2023, Hyliion announced that it was winding down its powertrain business segment to maintain the company’s strong cash position as it furthers development of the KARNO generator technology. The company intends to retain the powertrain technology, enabling it to explore future use or sale of the technology and tangible assets. Most wind-down activities are expected to be completed in the first quarter of 2024 while efforts to monetize powertrain assets and technology continue.
Financial Highlights and Guidance
Fourth quarter operating expenses totaled $32.6 million, compared to $31.6 million in the prior-year quarter as the company initiated powertrain wind-down actions. Fourth quarter expenses include $11.5 million of charges directly related to the wind-down, including employee severance, contract cancellation costs, and accelerated depreciation of assets.
Full-year expenses totaled $136.3 million, compared to $152.4 million for the full year in 2022. Expenses in 2022 include $28.8 million of one-time charges associated with the purchase of KARNO generator technology from GE. Cash expenditures for 2023 were $131 million, including net losses and capital investments. The company ended the year with $291 million in unrestricted cash, and short-term and long-term investments.
For 2024, total cash consumed by the KARNO generator business is expected to be between $40 and $50 million, down compared to $131 million in capital consumed by the company in 2023. This estimate excludes cash payments associated with the stock repurchase program, payments associated with the ongoing wind-down of powertrain operations, and cash generated from the sale of powertrain assets and technology. Hyliion expects to achieve commercialization of the KARNO generator with the capital on hand.
Projections for 2025 include growth of KARNO generator deliveries with proceeds from sales in the low double-digit millions of dollars. The company also projects gross margins to be approximately break-even or slightly negative and cash spending to grow modestly compared to 2024.
About Hyliion
Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, OH, Hyliion is addressing the commercial space first with a locally-deployable generator that can offer prime power, peak shaving, and renewables matching. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The KARNO generator is a fuel-agnostic solution, enabled by additive manufacturing, that leverages a linear heat generator architecture. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy.
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Rail Vision (RVSN) - CEO interview -
Intuitive Machines (LUNR) - >>> Lunar Lander Feared to Have Tipped While Reaching the Moon
Bloomberg
by Loren Grush and Richard Clough
Feb 23, 2024
https://finance.yahoo.com/news/lunar-lander-feared-tipped-while-223225056.html
(Bloomberg) -- The American-made lander that touched down on the moon likely landed on its side, officials said, raising questions about the historic mission.
Intuitive Machines Inc., the Houston-based maker of the spacecraft, said in a press briefing late Friday it’s still downloading data from the vehicle. The company also said the lander still has “quite a bit of operational capability” and is able to charge.
The complication could be a setback for Intuitive Machines and partner NASA, which initially declared the vehicle was upright. The landing was lauded as the first private-sector lander to reach the moon intact, breaking a string of failures by other companies.
The mission had already faced a hurdle prior to touching down, when the company learned that lasers designed to navigate the moon’s terrain weren’t working properly. Intuitive Machines switched to a NASA lidar instrument and sent the lander on an extra lap around the moon to upload a software patch to boost the lidar’s capability.
Intuitive Machines said it incorrectly believed the lander was upright on Thursday due to faulty data. The vehicle possibly ended up on its side because it reached the lunar surface moving too quickly horizontally. As a result, it could have caught its leg on something and broke it.
The revelation sent the company’s shares plunging as much as 39% after regular trading in New York.
The vehicle, a Nova-C lander nicknamed Odysseus, was carrying carrying six payloads for NASA and five from commercial customers, including sculptures from artist Jeff Koons. One payload, with the sculptures, is facing the moon’s surface. However, the “active” payloads are exposed to space, which was “fortunate,” according to the company.
NASA may still struggle to get all the measurements it needs for the payloads due to the vehicle’s orientation, the space agency said. A solar panel could have been damaged while some antennae on Odysseus are pointed toward the moon’s surface, limiting their ability to send some data back to Earth.
“That really is a limiter of our ability to communicate and get the right data down so that we get everything we need for the mission,” said Intuitive Machines Chief Executive Officer Stephen Altemus.
The Odysseus team expects to get more information about the health of the lander in the coming hours and days.
The development underscores the difficulty of landing a robotic craft on the uneven lunar surface. An Israeli nonprofit, SpaceIL, tried in 2019, but its craft came in too fast and crashed on the surface. Last year, Tokyo-based Ispace Inc. lost contact with its lander, which likely crashed. And in January, Pittsburgh-based Astrobotic’s lander suffered engine failure just after reaching space.
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>>> Intuitive Machines, Inc. (LUNR) designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers µNova, a lunar rocket-fueled drone, lunar surface rover services, fixed lunar surface services, rideshare delivery services, lunar access services, lunar orbit delivery services, and lunar data network services, as well as content sales and marketing. It also offers aerospace engineering services to NASA and the aerospace industry. Intuitive Machines, Inc. was founded in 2013 and is based in Houston, Texas.
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>>> Rail Vision Increases Railway Safety with its Next Generation AI Computer
GlobeNewswire
Rail Vision Ltd.
February 12, 2024
https://finance.yahoo.com/news/rail-vision-increases-railway-safety-134100702.html
The new development offers high performance and real time AI deep learning inferencing
Ra’anana, Israel, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology company at the forefront of revolutionizing railway safety and the data-related market, has introduced its next generation AI-based computer designed enhance railway safety and prevent accidents. This advanced technology marks a significant step forward in the realm of railway safety, leveraging artificial intelligence to detect potential hazards and mitigate risks effectively.
The new AI-based computer from Rail Vision, previously announced, incorporates advanced artificial intelligence algorithms, enabling it to analyze vast amounts of data in real-time. By processing information from various sensors and cameras installed on trains, the AI-based computer can accurately identify obstacles, track infrastructure conditions, and detect potential dangers along the railway tracks. This proactive approach empowers railway operators to take timely actions to prevent accidents and ensure the safety of passengers and personnel.
Rail Vision's new AI solution will be seamlessly integrated into both their Main Line and Switch Yard systems, revolutionizing safety measures across all aspects of railway operations.
Key features of Rail Vision's next-generation AI-based computer include:
Advanced AI Algorithms: Utilizing cutting-edge artificial intelligence technology to analyze and interpret data for accurate hazard detection.
Real-Time Monitoring: Continuous monitoring of railway tracks and surroundings to identify potential risks promptly.
Enhanced Safety Measures: Providing railway operators with actionable insights to implement proactive safety measures and prevent accidents.
Scalable Solution: Designed to integrate seamlessly with existing railway infrastructure and scalable to meet the evolving needs of railway networks.
"Rail Vision's next-generation AI-based computer system, is a significant milestone in railway safety technology. This innovation embodies our unwavering commitment to advancing railway security, marrying cutting-edge AI with real-time processing to prevent accidents and save lives. We believe that our system, technology and cloud connectivity contribute to a transformative leap forward, marking a new chapter in intelligent railway operations", said Shahar Hania, Rail Vision's Chief Executive Officer.
Rail Vision's next-generation AI-based computer is poised to revolutionize railway safety practices, offering an intelligent solution to mitigate risks and prevent accidents. By harnessing the power of artificial intelligence, Rail Vision continues to drive innovation in the railway industry, ensuring safer and more efficient transportation systems for the future.
About Rail Vision Ltd.
Rail Vision is a technology company that is seeking to revolutionize railway safety and the data-related market. The Company has developed cutting-edge, artificial intelligence based, industry-leading technology specifically designed for railways. The Company has developed its railway detection and systems to save lives, increase efficiency, and dramatically reduce expenses for the railway operators. Rail Vision believes that its technology will significantly increase railway safety around the world, while creating significant benefits and adding value to everyone who relies on the train ecosystem: from passengers using trains for transportation to companies that use railways to deliver goods and services. In addition, the company believes that its technology has the potential to advance the revolutionary concept of autonomous trains into a practical reality.
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>>> TMC the metals company Inc. (TMC) , a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in the Clarion Clipperton Zone (CCZ) in the south-west of San Diego, California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in three polymetallic nodule contract areas in the CCZ of the Pacific Ocean. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, clean energy transmission, manganese alloy production required for steel production, and other applications. The company was formerly known as Sustainable Opportunities Acquisition Corporation and changed its name to TMC the metals company Inc. TMC the metals company Inc. was incorporated in 2019 and is based in Vancouver, Canada.
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>>> American Rare Earths Limited engages in the exploration and development of mineral resources in Australia and the United States. The company explores for rare earth, scandium, and cobalt deposits. Its 100% owned flagship property is the Halleck Creek project situated in Wyoming, the United States. The company was formerly known as Broken Hill Prospecting Limited and changed its name to American Rare Earths Limited in July 2020. American Rare Earths Limited was incorporated in 1986 and is based in Sydney, Australia.
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https://finance.yahoo.com/quote/ARRNF/profile
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>>> Rail Vision's Main Line System Successfully Secures Approval and Certifications and for EU Railway Standards
GlobalNewswire
Rail Vision Ltd.
January 22, 2024
https://finance.yahoo.com/news/rail-visions-main-line-system-123300830.html
Compliance and homologation sets the stage for accelerated adoption of Rail Vision's Main Line system across the vast EU market
Ra’anana, Israel, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology company at the forefront of revolutionizing railway safety and the data-related market, today announced that its Main Line system has successfully obtained formal certifications for critical European Union (EU) railway standards, an important achievement that underscores the Company's dedication to quality, safety, and innovation in the railway technology market.
With its extensive railway network and robust demand, the EU offers vast opportunities for railway technologies and represents the largest absolute market for rail products and services globally, according to UNIFE World Rail Market. The global digital railway market size is expected to surpass $100 billion by 2027, growing at a compound annual growth rate of 9.7%.
"Achieving compliance with these EU standards marks a major milestone for Rail Vision and positions us ahead of the competition in the Railway technology market," said Noam Shloper, Head of Quality and Reliability at Rail Vision. "Our team is driven by a commitment to support product quality and safety above all else, and we're pleased to complete this important milestone that sets the stage for accelerated adoption of our Main Line system across the vast EU market."
Rail Vision's Main Line system is now certified in compliance with EN 50155, which sets the benchmark for hardware equipment in railway applications, ensuring the robustness and reliability of rolling stock components. This compliance demonstrates Rail Vision's system's ability to withstand the rigorous physical demands of railway operations. Additionally, the system meets the requirements of EN 50126, focusing on the specification and demonstration of Reliability, Availability, Maintainability, and Safety (RAMS). This standard is crucial in the railway industry, as it guarantees that the system can be relied upon for consistent performance and safety. Furthermore, Rail Vision’s system aligns with EN 50657 standards related to software on board rolling stock. This compliance ensures that the software integrated into the Company's Main Line system meets the highest levels of safety and functionality, crucial for the smooth operation of modern trains. The Main Line system also adheres to EN 45545 standards related to fire protection on railway vehicles.
About Rail Vision Ltd.
Rail Vision is a technology company that is seeking to revolutionize railway safety and the data-related market. The Company has developed cutting-edge, artificial intelligence based, industry-leading technology specifically designed for railways. The Company has developed its railway detection and systems to save lives, increase efficiency, and dramatically reduce expenses for the railway operators. Rail Vision believes that its technology will significantly increase railway safety around the world, while creating significant benefits and adding value to everyone who relies on the train ecosystem: from passengers using trains for transportation to companies that use railways to deliver goods and services. In addition, the company believes that its technology has the potential to advance the revolutionary concept of autonomous trains into a practical reality.
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Rail Vision - >>> A Leading US-Based Rail & Leasing Services Company Orders Rail Vision Switch Yard Systems Valued at Up to $5 Million
GlobeNewswire
Rail Vision Ltd.
January 17, 2024
https://finance.yahoo.com/news/leading-us-based-rail-leasing-121800152.html
Ra’anana, Israel , Jan. 17, 2024 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (the “Company”) (Nasdaq: RVSN), a technology company seeking to revolutionize the railway safety market, announced today that a leading US-based rail and leasing services company signed a supply contract with Rail Vision valued at up to $5,000,000 (USD) for the purchase of Rail Vision’s AI-based Switch Yard Systems.
"The signing of the contract with this customer is a significant milestone for Rail Vision, marking our entrance into the US market and reflecting our commitment to enabling the rail industry with cutting-edge AI-based technology," said Rail Vision CEO Shahar Hania. "Our Switch Yard System is designed to significantly improve safety and efficiency in rail yards. We are proud that our new customer, a prominent player in the rail services sector in North America, has recognized the value of our solution. This new partnership is a testament to the innovation and effectiveness of Rail Vision's technology, and we look forward to working closely with this customer to help them enhance operations and contribute to a safer, more efficient rail industry."
Rail Vision’s unique Switch Yard System enables railway operators to streamline and enhance the safety of their industrial switching operations. Combining advanced vision sensors with artificial intelligence and deep learning technologies, the system automatically detects and classifies objects within a range of up to 200 meters, in diverse weather and light conditions. With its one-of-a-kind Pathfinder technology, the Switch Yard System can detect switch states to support the execution of coupling from a remote position. In addition, it enables the monitoring of operational dead zones to facilitate secure wagon coupling and sends real-time visual and acoustic alerts to remote operators and drivers, ensuring a safe and secure environment.
The first phase of the contract is valued at $1,000,000 (USD). Follow-on orders for additional Switch Yard Systems, valued at up to $4,000,000, are subject to customer approval. The contract also includes specific purchase quotas that, if met, provide the customer with exclusivity in the North American industrial railyards switching segment.
About Rail Vision Ltd.
Rail Vision is a technology company that is seeking to revolutionize railway safety and the data-related market. The Company has developed cutting-edge, artificial intelligence based, industry-leading technology specifically designed for railways. The Company has developed its railway detection and systems to save lives, increase efficiency, and dramatically reduce expenses for the railway operators. Rail Vision believes that its technology will significantly increase railway safety around the world, while creating significant benefits and adding value to everyone who relies on the train ecosystem: from passengers using trains for transportation to companies that use railways to deliver goods and services. In addition, the company believes that its technology has the potential to advance the revolutionary concept of autonomous trains into a practical reality.
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>>> Else Nutrition and Danone Enter Into a Binding Multi-Stage Collaboration
Newsfile
November 13, 2023
https://finance.yahoo.com/news/else-nutrition-danone-enter-binding-133800745.html
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2023) - ELSE NUTRITION HOLDINGS INC. (TSX: BABY) (OTCQX: BABYF) (FSE: 0YL) ("Else" or the "Company"), is pleased to announce that it has agreed to a multi-staged collaboration with Danone S.A., a worldwide leading company specializing in fresh dairy products, plant-based, water and specialized nutrition.
Else and Danone signed a letter of intent ("LOI") on November 13, 2023 providing for a multi-stage collaboration subject to the finalization of certain commercial terms. The LOI was entered into following Danone having completed extensive due diligence.
At the first stage of the collaboration, Else and Danone will enter into a License Agreement whereby Else's products, which are plant based, soy-free and supported by clinical evidence, shall be included in Danone's specialized nutrition portfolio and manufactured, marketed and commercialized by Danone. In addition to the first stage, the parties shall negotiate other opportunities beyond product commercialization.
The Parties anticipate signing the definitive agreement by the end of Q1, 2024.
About Danone S.A.
Dedicated to bringing health through food to as many people as possible, Danone is a leading global food & beverage company built on four businesses: Essential Dairy and Plant-Based Products, Waters, Early Life Nutrition and Medical Nutrition.
Danone aims to inspire healthier and more sustainable eating and drinking practices, in line with their vision - Danone, One Planet. One Health - which reflects a strong belief that the health of people and the health of the planet are interconnected. Danone deliberately concentrates on high-growth and health-focused categories and commits to operating in an efficient, sustainable, and responsible manner.
This unique approach, historically defined as their Dual Project, enables Danone to create both shareholder and societal value. Danone holds itself to the highest standards, as reflected by the ambition to become one of the first multinationals certified as B CorpTM.
With products sold in over 120 markets, Danone generated sales of €27.661 billion in 2022. Danone's portfolio includes brands present worldwide (Activia, Actimel, Alpro, Danette, Danonino, Danio, evian, Volvic, Nutrilon/Aptamil, Nutricia) and in their local markets (Aqua, Blédina, Cow & Gate, Bonafont, Horizon Organic, Mizone, Oikos, Silk).
Listed on Euronext Paris and on the OTCQX market via an ADR (American Depositary Receipt) program, Danone is a component stock of leading social responsibility indexes including the Dow Jones Sustainability Indexes, Vigeo, the Ethibel Sustainability Index, MSCI Global Sustainability, MSCI Global SRI Indexes and the FTSE4Good Index.
To delve deeper into Else Nutrition's offerings and its revolutionary approach to kids' nutrition, visit www.elsenutrition.com.
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. (TSX: BABY) (OTCQX: BABYF) (FSE: 0YL) is a food and nutrition company in the international expansion stage focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formulas. Since launching its Plant-Based Complete Nutrition for Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the brand has received thousands of powerful testimonials and reviews from parents, gained national retailer support, and achieved rapid sales growth.
Awards and Recognition:
"2017 Best Health and Diet Solutions" award at Milan's Global Food Innovation Summit
#1 Best Seller on Amazon in the Fall of 2020 in the New Baby & Toddler Formula Category
"Best Dairy Alternative" Award 2021 at World Plant-Based Expo
Nexty Award Finalist at Expo West 2022 in the Plant-Based lifestyle category
During September 2022, Else Super Cereal reached the #1 Best Seller in Baby Cereal across all brands on Amazon
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Centrus Energy (LEU) -
Jim Rickards has mentioned the SMR / Small Modular Reactor space as a promising area, and Centrus and TerraPower recently announced an expanded collaboration (link below). Bill Gates was one of the founders of TerraPower, which is still a private company -
>>> TerraPower and Centrus expand efforts to commercialize domestic HALEU production <<<
https://finance.yahoo.com/news/terrapower-centrus-expand-efforts-commercialize-104500179.html
_____________________________
>>> Centrus Energy Corp. (LEU) supplies nuclear fuel and services for the nuclear power industry in the United States, Japan, Belgium, and internationally. The company operates through two segments, Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment sells separative work units (SWU) component of LEU; SWU and natural uranium components of LEU; and natural uranium for utilities that operate nuclear power plants. The Technical Solutions segment offers technical, manufacturing, engineering, procurement, construction, and operations services to public and private sector customers, including the American Centrifuge engineering and testing activities. The company was formerly known as USEC Inc. and changed its name to Centrus Energy Corp. in September 2014. Centrus Energy Corp. was incorporated in 1998 and is headquartered in Bethesda, Maryland.
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Avanti Helium Corp (ARGYF) -
re-post from - https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172565598
>>> Helium Wars: Why Are Tech Giants Fighting Over This Rare Gas?
https://oilprice.com/Energy/Energy-General/Helium-Wars-Why-Are-Tech-Giants-Fighting-Over-This-Rare-Gas.html
Snippet:
A daunting list of key industries the world over is now wondering where their future supplies of helium will come from.
What battery metals are to gigafactories, helium is to everything from scientific research, medical technology and high-tech manufacturing to space exploration and national defense.
Avanti Helium Corp. (ARGYF) spec bet?
Avanti Helium Corp. acquires, explores, and develops helium projects in Canada and the United States. The company's principal project is its 100% owned Greater Knappen Project, which covers an area of approximately 70,140 acres located in the Southern Alberta and Northwestern Montana. The company was formerly known as Avanti Energy Inc. and changed its name to Avanti Helium Corp. in August 2022. Avanti Helium Corp. was incorporated in 2011 and is headquartered in Calgary, Canada.
https://finance.yahoo.com/quote/ARGYF/?p=ARGYF
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>>> The world is running out of helium: Nobel prize winner
Pys.org
https://phys.org/news/2010-08-world-helium-nobel-prize-winner.html#:~:text=There%20is%20no%20chemical%20way,lightest%20element%20in%20the%20Universe.
A renowned expert on helium says we are wasting our supplies of the inert gas helium and will run out within 25 to 30 years, which will have disastrous consequences for hospitals and industry.
Professor of physics, Robert Richardson from Cornell University in Ithaca, New York, won the 1996 Nobel prize for his work on superfluidity in helium, and has issued a warning the supplies of helium are being used at an unprecedented rate and could be depleted within a generation.
Liquid helium is vital for its use in cooling the superconducting magnets in magnetic resonance imaging (MRI) scanners. There is no substitute because no other substance has a lower boiling point. Helium is also vital in the manufacture of liquid crystal displays (LCDs) and fiber optics.
In MRI scanners the helium is recycled, but often the gas is wasted since it is thought of as a cheap gas, and as such is often used to fill party balloons and as a party trick distorting people's voices when it is inhaled.
Professor Richardson warned the gas is not cheap because the supply is inexhaustible, but because of the Helium Privatisation Act passed in 1996 by the US Congress. The Act required the helium stores held underground near Amarillo in Texas to be sold off at a fixed rate by 2015 regardless of the market value, to pay off the original cost of the reserve. The Amarillo storage facility holds around half the Earth's stocks of helium: around a billion cubic meters of the gas. The US currently supplies around 80 percent of the world's helium supplies.
Richardson said it has taken 4.7 billion years for the Earth to accumulate our helium reserves, which we will have exhausted within about a hundred years of the US's National Helium Reserve having been established in 1925. The reserve is a collection of disused underground mines, pipes and vats extending over 300 km from north of Amarillo into Kansas. He warned that when helium is released to the atmosphere, in helium balloons for example, it is lost forever.
There is no chemical way of manufacturing helium, and the supplies we have originated in the very slow radioactive alpha decay that occurs in rocks. It costs around 10,000 times more to extract helium from air than it does from rocks and natural gas reserves.
Helium is the second-lightest element in the Universe. Among helium's other uses include airships, air mixtures used in deep-sea diving, cooling nuclear reactors and infrared detectors, and in satellite and spacecraft equipment, and solar telescopes. NASA also uses massive amounts of helium to clean fuel from its rockets, and because the helium is so cheap, it makes no effort to recycle the gas. As the isotope helium-3, helium is also used in nuclear fusion research.
Professor Richardson was co-chair of a US National Research Council inquiry into the coming helium shortage. The report recommends the US reconsider its policy regarding selling off the helium.
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Steakholder Foods (STKH) may be starting to gain some traction (link below). The stock popped on this news, but I see the company quickly did a money raise the next day, thanks to a pre-existing shelf registration. So very resourceful, and in spite of the instant dilution the stock held up pretty well.
>>> Steakholder Foods Signs First Ever Multi-Million-Dollar Agreement with GCC Governmental Body to Commercialize its 3D Bio-Printing Technology
Yahoo Finance
July 24, 2023
https://finance.yahoo.com/news/steakholder-foods-signs-first-ever-110000101.html
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>>> Steakholder Foods Ltd. (STKH), a deep-tech food company, engages in the development of cultivated meat technologies to manufacture cultivated meat without animal slaughter in Israel. The company develops a three-dimensional bioprinter to deposit layers of stem cells and differentiated stem cells, scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat. It intends to license its production technology; provides associated products, such as cell lines, printheads, bioreactors, and incubators; and offers technology implementation, training, and engineering support services directly and through contractors to food processing, food retail, and cultivated meat companies. Steakholder Foods Ltd. is headquartered in Rehovot, Israel. <<<
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Archer Aviation (ACHR) - >>> ‘The Air Taxi Sector Could Be Worth $58 Billion by 2033': Canaccord Suggests One Stock to Invest in It With 140% Upside Potential
TipRanks
June 21, 2023
https://finance.yahoo.com/news/air-taxi-sector-could-worth-001904133.html
The idea of the green economy – that is, low or zero carbon emissions – has taken hold, with a strong social and political impetus behind it. This has become the driving force behind the expansion of renewable power sources in utility-scale electricity generation and the increasing production and use of electrically powered vehicles. At its core, this push is predicated on a reduction in the use of fossil fuels. However, there is one sector in which the transition away from fossil fuel power has proven difficult.
Air travel remains primarily oil-dependent. Until recently, the technology simply did not exist to build viable battery-powered aircraft with sufficient size, lift, speed, and passenger/cargo capacity to truly meet an economic need. That’s beginning to change, particularly in the realm of short-range urban commuter flights. It’s a niche segment, but it’s one that is amenable to a switch from fossil fuel to battery power.
Analyst Austin Moeller, from Canaccord Genuity, has taken an in-depth look at the eVTOL (electric vertical takeoff and landing) aircraft class, and writes, “eVTOL aircraft, which can take off from a traditional heliport (or vertiport) and ferry passengers over busy traffic below using purely battery power, have the potential to substantially reduce carbon emissions in major urban areas and break up traffic congestion by taking to the air.”
“Based on our estimates,” Moeller added, “~15% of rides hailed to and from airports and 5% of longer-distance regional trips could be replaced by eVTOL aircraft, potentially reaching 45M monthly active riders within the next decade. At a target ticket price of ~$107 for an airport-ranged flight, we estimate that the TAM for eVTOL travel in urban metros could be worth nearly $58B by 2033.”
Moeller doesn’t just praise the sector generally, but he also provides a specific recommendation of an eVTOL stock that investors should consider. Despite the speculative nature of this company, Moeller predicts a remarkable upside potential of ~140%. This optimistic outlook is shared by other analysts as well, as the stock is rated as a Strong Buy according to TipRanks’ database.
Archer Aviation (ACHR)
Archer is developing the Midnight aircraft, a short-range urban commuter aircraft designed for distances of up to 100 miles. The Midnight, when it is scaled up to full size, will be capable of short flights, up to 20 miles, back-to-back, with just 12 minutes charging time between. The aircraft’s design incorporates six independent battery packs, each linked to a pair of electric motors, and capacity to carry a pilot, 4 passengers, and luggage. With speeds up to 150 miles per hour, and an optimized rage of 20 to 50 miles, the aircraft is intended to act as an urban connector and air taxi, economically linking major airports within a larger urban area.
Archer is already working with a major airline partner, United, to make eVTOL air taxi routes a reality. The two companies announced in March of this year the first commercial electric air taxi route, to start in in Chicago. The link will connect Chicago’s O’Hare airport, one of North America’s largest, with Vertiport Chicago, the largest North American vertical takeoff and landing aircraft facility. Vertiport is located in the famous Loop; the Archer/United agreement will connect the Loop directly to O’Hare.
This unique aviation firm is also partnering with Stellantis, the auto manufacturer, to kickstart production of the Midnight. Stellantis will provide the manufacturing tech and expertise, along with experienced factory personnel and available capital, to get the Midnight past the prototype stage and into mass production. Archer’s goal is to have 6,000 aircraft deployed by 2030. Archer and Stellantis together will be attending the 2023 Paris Airshow, which starts on June 19. The companies will jointly feature the Midnight eVTOL at the Air Mobility event.
While Archer is purely pre-revenue for now, the company is aiming to begin commercialization of the Midnight in 2025. In its 1Q23 report, Archer noted that the first Midnight aircraft has passed final assembly, and is ready for test flights this summer, and that the FAA certification program is progressing. Archer has plenty of liquidity to maintain operations, with cash reserves of $450 million as of March 31, as well as strategic funding, available from Stellantis, of $150 million.
For Canaccord’s Austin Moeller, all of this adds up to an impressive beginning. The analyst writes, “We expect Archer’s strong established relationships with a major airline (United) and a major global automotive manufacturer (Stellantis) to give the company an intellectual, technical and financial edge over its other peers in the eVTOL industry as it works to scale up production and delivery of the Midnight aircraft. Given the robust demand from the airlines to reduce carbon emissions and a vested interest from major metro areas in reducing smog and traffic congestion, we believe that Archer’s Midnight aircraft could be a significant contributor to sustainable air travel and short-mid range travel from urban city centers to airport hubs and surrounding suburbs.”
Looking forward, Moeller rates ACHR shares as a Buy, and he sets a $9 price target to suggest a powerful one-year upside of ~140%. (To watch Moeller’s track record, click here)
Like Canaccord, the rest of the Street is bullish on ACHR. Based on the 4 Buy recommendations assigned in the last three months and 129% upside potential, it’s clear this ‘Strong Buy’ eVTOL stock has a lot to brag about. (See ACHR stock forecast)
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>>> Else Nutrition Reports 23% Sequential Revenue Growth in the First Quarter of 2023
Else Nutrition Holdings Inc.
May 15, 2023
https://finance.yahoo.com/news/else-nutrition-reports-23-sequential-113000994.html
Conference call will be held on Monday, May 15 at 10 AM ET
VANCOUVER, British Columbia, May 15, 2023 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC (BABY) (BABYF) (0YL.F) ("Else" or the "Company") the Plant-Based baby, toddler, and children nutrition company, today reported first quarter 2023 financial results for the period ending March 31, 2023. The financial statements and MD&A are available on SEDAR under the Company’s profile.
First Quarter 2023 Financial Highlights
1Q23 total revenues were $2.9M, an 82% increase versus $1.6M in 1Q22, and a 23% increase versus $2.3M in 4Q22. Revenue growth continued to be hampered by product shortages. While the company increased its production pace, the demand for its products also continued to grow, a combination that challenged available supply, especially in the first half of the quarter. Management estimates the revenue loss from inventory constraints was roughly $1M in 1Q23.
Sales to brick-and-mortar retailers in the US and Canada during 1Q23 increased by 105% versus 4Q22. As of 1Q23, Else products were listed in nearly 12,000 stores in North America, compared with 1,200 stores in 1Q22. Management expects to reach 20,000 listed stores and 50,000 points of distribution by the end of 2023.
Sales in Canada, via Amazon and brick-and-mortar retailers increased over 240% in 1Q23 versus 4Q22 and represented over 28% of the Company’s formula sales.
Retail sales velocity is growing, and as additional products are added to existing accounts, annual revenue per store is improving as well.
Cash balance as of March 30, 2023, was $10.1M CAD, including restricted cash and short-term bank deposit.
Recent Business Highlights
Expanded distribution to more than 7,000 CVS stores, more than 750 Walmart stores, over 440 Loblaws stores, over 600 Sobey’s stores and to 161 Giant Food Stores.
Else products were listed in nearly 12,000 stores in North America, compared with 1,200 stores in 1Q22 reflecting 10 times growth.
Significantly increased in-store sales velocity. For example, according to Spins data, the sales velocity of our Toddler Organic product in natural food stores grew by more than 50% in the last year (measured in 12-week periods).
Expanded production capacity by adding a second manufacturing facility in the US and launching its first production facility in Europe. The additional facilities will increase the Company’s production capacity by about three times, greatly reducing the risk of future out of stock situations. The Company anticipates the new scaled manufacturing capacity to significantly decrease its manufacturing costs, beginning in 2H23.
Entered the Canadian market with the launch on Amazon.ca and in brick-and-mortar stores. The success of the launch exceeded expectations given a fast entry into major retailers across the country and the strong demand for Else’s products. The Company expects to be listed in more than 3,000 Canadian stores by the end of 2023.
The Company plans to enter Western Europe in 2H2023. The initial launch will be in the UK via Amazon and natural food distributors, with other European countries to follow.
The Company plans to enter Australia in 2H2023. The initial launch will be via Amazon to be followed by drug and grocery chains.
Received critical approval by the Institutional Review Board (IRB) of the infant growth study protocol for the testing of the Else Infant Formula.
Management Commentary
Hamutal Yitzhak, CEO of Else Nutrition, commented, “In 1Q23, Else returned to strong sequential growth, after two quarters in which we experienced severe product shortages. Over the past months we secured two additional manufacturing facilities in the US and Europe. The two new facilities have more than tripled our current production capacity, mitigating the risk of future out-of-stock situations.
Although our manufacturing facilities are fully operational, out of stock and product shortages were still a limiting factor for sales growth in the first quarter. Limited inventory continued to force us to prioritize retails orders over Amazon and our E-store orders. We estimate the revenue impact due to the product shortage to be approximately $1M in 1Q23, mostly in January and February. In March and April, we have begun to see a rebound in our ecommerce sales as we have been building inventory to meet the growing demand.
Our sales to retail stores accelerated in 1Q23 as retailers are seeing strong sales of our products and we continue to grow our store count. Else is becoming a recognized national brand in the US, carried by major grocery and drug retailers. Our customers now include prominent retailers such as CVS and Walmart, as well as leading e-commerce sites such as Amazon and Walmart.com. We expect to reach 20,000 retail locations by end of 2023.
Our international expansion remains strong, growing over 200% in 1Q23 versus 4Q22. Our launch into the Canadian market in 3Q22 was above our expectations, and the consumer enthusiasm has continued. In recent months we entered the Chinese market, and while our presence is currently nascent, we are continuing to make inroads.
As we look out over next few months, we remain focused on our growth objectives to become a global leader in the plant-based nutrition arena. We plan to increase the number of retailers we sell in and expand our shelf space in those stores. We remain enthusiastic about our international expansion. Our entry into Canada in August had a much greater than-anticipated start, and we expect to reach 3,000 stores in Canada in 2023. Furthermore, we are excited to enter the UK and Australia in the second half of 2023, and to continue our journey into the large Chinese market.
In 2023 we remain on track to begin our infant growth clinical study for the FDA and European permits. Receiving FDA approval is a very high priority for Else Nutrition, as we believe that becoming the first non-dairy and non-soy FDA-approved infant formula will be transformational for the valuation of the Company.
FDA Update
As part of the pathway to bring its infant formulation to market under FDA and other authorities’ approvals, Else concluded two successful preclinical safety studies during 2021 and 2022 on its plant-based infant formula, to demonstrate safety and nutrient bioavailability of the infant formula and its ingredients. The results demonstrated proper growth, similar to dairy-based infant formula, in a neonatal preclinical model, as well as the infant formula protein efficiency and quality. Those are the key two steps out of three, on the path to obtaining the FDA and other regulatory permits to bring the product to market.
In February 2023, the Company announced that the Institutional Review Board (the ethical committee) approved the infant growth study protocol for the testing of the Else Infant Formula.
As a final step before initiating the study, the Company has now submitted the infant growth study protocol to the FDA for review and is awaiting the FDA confirmation, in parallel to continuously seeking for a comparator formula which is currently unavailable due to the continuous infant formula shortage followed by several recent product recalls in the US.
Conference Call
Hamutal Yitzhak, CEO and Co-Founder, will hold a conference call to discuss the quarter's financial results at 10:00 a.m. (Eastern Time) on May 15, 2023.
Interested parties can listen via a live webcast, from the link available in the Investors section of the Company's website or at https://app.webinar.net/baVn86WGdw0
A replay will be available after the call, in the Investors section of the Company's website at https://app.webinar.net/baVn86WGdw0
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. is a food and nutrition company in the international expansion stage focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the "2017 Best Health and Diet Solutions" award at Milan's Global Food Innovation Summit. The holding company, Else Nutrition Holdings Inc., is a publicly-traded company, listed on TSX Venture Exchange under the trading symbol BABY and is quoted on the US OTC Markets Q.X. board under the trading symbol BABYF and the Frankfurt Exchange under the symbol 0YL. Since launching its Plant-Based Complete Nutrition for Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the brand has received thousands of powerful testimonials and reviews from parents and gained national retailer support from Sprouts Farmers Market, and achieved rapid sales growth. Else became the #1 Best Seller on Amazon in the Fall of 2020 in the New Baby & Toddler Formula Category. It recently won the 'Best Dairy Alternative' Award 2021 at World Plant-Based Expo and was a Nexty Award Finalist at Expo West 2022 in the Plant-Based lifestyle category.
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>>> Steakholder Foods® Unveils 3D Bio-printing Business Model
Steakholder Foods Ltd.
May 25, 2023
https://www.prnewswire.com/news-releases/steakholder-foods-unveils-3d-bio-printing-business-model-301834537.html
The business model will focus on selling 3D bio-printers and bio-inks designed to develop delicious, nutritious, safe, and consistent cultivated meat from ethically harvested cells.
3D bio-printers: the Company is developing Ready-to-Cook 3D printers, for the production of hybrid cultivated products, incorporating a unique printing process that gives the product its fibrous texture.
Bio-inks: the Company is developing various bio-inks to print different species, and will offer customization options intended to allow clients to purchase bio-inks for any type of species they would like to produce, tailored to their specific needs and preferences.
REHOVOT, Israel, May 25, 2023 /PRNewswire/ -- Steakholder Foods Ltd. (Nasdaq: STKH), an international deep-tech food company at the forefront of the cultivated meat industry, today announced that it has focused its business model to target B2B meat manufacturers and cultivated meat producers, by offering manufacturers the ability to produce a cultivated meat product that aims to closely mimic the taste, texture, and appearance of traditional meat. The Company intends to monetize its 3D printers and bio-inks that are needed to support printer operation.
The Company's competitive advantage lies in its top-of-the-line expertise in 3D bio-printing technology and its ability to create highly–sophisticated, structured end products that aim to closely mimic real meat in terms of taste, texture, and appearance.
In accordance with Steakholder Foods' new business model, the products it plans to offer:
1. 3D bio-printers
The Company's 3D printers are state-of-the-art technology designed to produce cultivated meat products that mimic the texture, taste, and appearance of conventional meat. The Company is developing two types of printer platforms:
Ready to Cook (RTC) printer
The flagship product, the RTC printer, produces a hybrid cultivated meat product made from a mixture of cultivated and plant-based ingredients.
The Company plans to offer lab- and industrial-scale printers using one of two types of technology to produce different end products. DropJet technology, based on drops of gel-based materials to create a 3D structure, is ideal for producing fish and seafood products, while for all other meat products, Fusion technology extrudes paste materials through a narrow nozzle, enabling the creation of fiber texture that best simulates conventional meat fibers.
3D printer for incubated products
The Company's innovation team is developing a 3D printer for an incubated product, such as tissue-engineered steak, considered the holy grail of the industry. This printer is expected to be a future value proposition for the Company when economies of scale support a market for fully cultivated products. This printer is designed to produce a fully matured, cultivated, printed meat product, which will require live cells to grow, differentiate, and mature, forming complex fibrous tissue that resembles the texture and taste of conventional meat.
2. Bio-inks
Bio-inks are an integral part of the Company's 3D printing technology. Steakholder Foods' bio-inks are made of plant-based ingredients and cultivated cells. They are developed to ensure the production of tasty, safe, and consistent products. The Company plans to offer customization options intended to allow clients to create bio-inks for any type of species they would like to produce, tailored to their specific needs and preferences. The bio-inks will be available for purchase alongside the 3D printers.
Arik Kaufman, CEO of Steakholder Foods: "By offering 3D printing production methodologies to B2B clients, Steakholder Foods has the opportunity to become a backbone supplier that enables the production of products that consumers seek and expect. Our 3D bio-printing technology and customized bio-inks reflect our commitment to revolutionizing the food industry."
About Steakholder Foods
Steakholder Foods Ltd., formerly MeaTech 3D Ltd., is an international deep-tech food company at the forefront of the cultured meat revolution. The company-initiated activities in 2019 and is listed on the Nasdaq Capital Market under the ticker "STKH" (formerly MITC), with headquarters in Rehovot, Israel.
The company is developing a slaughter-free solution for producing cellular agriculture meat products, such as beef and seafood, by offering manufacturers the ability to produce a cultivated meat product that aims to closely mimic the taste, texture, and appearance of traditional meat— as an alternative to industrialized farming and fishing. With its membership in the UN Global Compact, Steakholder Foods is committed to act in support of issues embodied in the United Nations Sustainable Development Goals (SDGs) which include strengthening food security, decreasing carbon footprint, and conserving water and land resources.
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Berkshire holding - >>> Vitesse Energy (VTS)
https://finance.yahoo.com/news/11-yielding-dividend-stocks-look-133250100.html
First up is Vitesse Energy, a non-operator that owns financial interests in oil and gas wells drilled in the US. It’s simpler than it sounds – Vitesse acts as an investor, owning hydrocarbon wells while leaving the oil and gas drilling and exploitation to third-party firms. Vitesse generates revenue from the development of non-operated assets in oil and natural gas. The company acquires leasehold properties and converts them into active drilling operations, tapping into cash flow from both the leases and the oil and gas production.
This has proven to be a sound business mode, and has been profitable for Vitesse for the last 10 years. The company’s portfolio includes over 50,000 net acres and approximately 6,500 actively producing oil and gas wells. For most of its existence, Vitesse was privately held, and during that time it retuned $124 million to its shareholders. The company from the Jefferies Financial Group became a public entity in January of this year, and since then has continued its policy of capital return, using a high-yield dividend as the vehicle.
That dividend was last declared on May 4, for 50 cents per common share. That declaration marked the firm’s second dividend payment as a public entity. With a forward annualized rate of $2 per share, the dividend gives an impressive yield of 11.3%, far above the current inflation rate, ensuring investors a substantial real rate of return.
The dividend is supported by the company’s non-GAAP earnings result, which came in a 53 cents per share for 1Q23, beating the forecast by 29 cents. Vitesse’s Q1 results in revenue and GAAP earnings were less impressive, however. The firm’s top line of $57.96 million was $2.87 million below expectations, and the GAAP EPS result came in at a net loss of $1.67, well below the 9-cent loss that had been forecast.
This doesn’t worry Northland analyst Donovan Schafer, who notes that Vitesse’s adjusted EBITDA of $40.1M beat consensus of $36.9M and his estimate of $36.5M. Schafer goes on to describe recent earnings as ‘boring,’ and writes: “VTS is meant to be a steady dividend payer with upside over time from commodity price exposure and opportunistic M&A. Trading at ~$18, the dividend is ~11%, which investors can collect while sitting in a position that gives upside commodity price exposure and limited downside…”
In Schafer’s view, this justifies an upgrade for the shares, from Neutral to Outperform (i.e. Buy), and his price target of $23 suggests a one-year upside potential of ~30%. Based on the current dividend yield and the expected price appreciation, the stock has ~41% potential total return profile. (To watch Schafer’s track record, click here)
Overall, VTS stock gets a Strong Buy rating from the Street’s analyst consensus, based on 3 unanimously positive reviews. The shares are trading for $17.72 and their $22.67 average price target implies a gain of ~28% in the next 12 months.
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>>> Quipt Home Medical Receives Conditional Approval to Graduate to the Toronto Stock Exchange
Quipt Home Medical Corp.
May 2, 2023
https://finance.yahoo.com/news/quipt-home-medical-receives-conditional-113000444.html
CINCINNATI, May 02, 2023 (GLOBE NEWSWIRE) -- Quipt Home Medical Corp. (“Quipt” or the “Company”) (NASDAQ:QIPT; TSXV:QIPT), a U.S. based home medical equipment provider, focused on end-to-end respiratory care, is very pleased to announce that it has received conditional approval from the Toronto Stock Exchange ("TSX") to graduate its listing from the TSX Venture Exchange (the "TSXV") to the TSX.
“Graduating to the Toronto Stock Exchange is a significant accomplishment, and I want to thank all our team members and shareholders for their ongoing support. Our ability to up-list demonstrates the evolution of our organization through the years and the ongoing momentum across the business in real time as we strive to become a national leader in respiratory care throughout the United States,” said Greg Crawford, Chairman and CEO of Quipt. “This up-listing is an important step towards improving liquidity and increasing our investor audience in North America and abroad. Given the continued financial and operational success, this up-listing, and our effort to inform investors of our robust growth, have us extremely optimistic about the future.”
Final approval of the listing is subject to the Company meeting certain customary conditions required by the TSX. The Company is working diligently to satisfy such listing conditions. Further details and a timeline for graduation will be announced in due course. Upon satisfaction of the TSX listing conditions, Quipt’s common shares will be delisted from the TSXV.
Shareholders are not required to exchange their share certificates or take any other action in connection with the TSX listing, as there will be no change in the trading symbol or CUSIP for the common shares. The Company will continue to trade its common shares on the NASDAQ in the United States under the symbol "QIPT".
ABOUT QUIPT HOME MEDICAL CORP.
The Company provides in-home monitoring and disease management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease, sleep disorders, reduced mobility, and other chronic health conditions. The primary business objective of the Company is to create shareholder value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company’s organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient’s services, and making life easier for the patient.
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>>> John B. Sanfilippo & Son, Inc. Declares $1.50 Per Share Special Dividend
BusinessWire
May 2, 2023
https://finance.yahoo.com/news/john-b-sanfilippo-son-inc-202000595.html
ELGIN, Ill., May 02, 2023--(BUSINESS WIRE)--John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the "Company") today announced that its Board of Directors (the "Board") declared a special cash dividend (the "Special Dividend") of $1.50 per share on all issued and outstanding shares of Common Stock of the Company and $1.50 per share on all issued and outstanding shares of Class A Common Stock of the Company. The Special Dividend will return approximately $17.4 million to JBSS stockholders.
The Special Dividend will be paid on June 22, 2023, to stockholders of record as of the close of business on June 1, 2023.
"We are pleased to announce the $1.50 per share Special Dividend," stated Jeffrey T. Sanfilippo, Chairman and Chief Executive Officer. "Our financial performance over the last several quarters has provided us the opportunity to declare the Special Dividend to be paid in the fourth quarter for fiscal 2023. These dividends, like our previous dividends, further reinforce our goal of creating long-term stockholder value through the responsible use of cash. Furthermore, these dividends would not be possible without the hard work and dedication of all our employees," Mr. Sanfilippo concluded.
ABOUT THE COMPANY
Based in Elgin, Illinois, John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of nut and dried fruit-based products that are sold under the Company’s Fisher ®, Orchard Valley Harvest ®, Squirrel Brand ®, Southern Style Nuts ®, and Just the Cheese ® brand names and under a variety of private brands.
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>>> Winmark Corporation Announces Increase in Cash Dividend
BusinessWire
April 19, 2023
https://finance.yahoo.com/news/winmark-corporation-announces-increase-cash-152500808.html
MINNEAPOLIS, April 19, 2023--(BUSINESS WIRE)--Winmark Corporation (Nasdaq: WINA) announced today that its Board of Directors has approved an increase in its regular quarterly cash dividend to shareholders. The quarterly dividend of $0.80 per share represents an increase of $0.10 from its previous dividend rate. The cash dividend will be paid June 1, 2023 to shareholders of record on the close of business on May 17, 2023. Future dividends will be subject to Board approval.
Winmark - the Resale Company®, is a nationally recognized franchising business focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At April 1, 2023, there were 1,297 franchises in operation and over 2,800 available territories. An additional 70 franchises have been awarded but are not open.
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>>> Ioneer Ltd (IONR) explores for and develops mineral properties in North America. Its flagship property is the Rhyolite Ridge lithium-boron project located in the state of Nevada, the United States. The company was formerly known as Global Geoscience Limited and changed its name to ioneer Ltd in November 2018. ioneer Ltd was incorporated in 2001 and is based in North Sydney, Australia.
>>> New Ioneer Mineral Resource update finds 168% increase in estimated lithium at Rhyolite Ridge
(note --> Rhyolite Ridge is expected to quadruple current U.S. lithium chemical output)
Ioneer project to meet rising demand for U.S. electric vehicle components while creating dedicated space to protect biological diversity
BusinessWire
April 26, 2023
https://www.businesswire.com/news/home/20230426005886/en/New-Ioneer-Mineral-Resource-update-finds-168-increase-in-estimated-lithium-at-Rhyolite-Ridge
RENO, Nev.--(BUSINESS WIRE)--Today Ioneer Ltd (ASX: INR, NASDAQ: IONR) released new findings showing a 168% increase of lithium within its Rhyolite Ridge Lithium-Boron project. The Nevada site is now estimated to hold enough lithium carbonate, a critical material in electric vehicle battery production, to power upward of 50 million electric vehicles with further expansion potential pending additional exploration.
In the coming years, U.S. demand for lithium is expected to soar to keep pace with projected demand for EVs. The updated estimate underscores Rhoylite Ridge’s potential in strengthening U.S. supply chains and securing a domestic and environmentally sustainable source of lithium and boron. Because its world-class processing facility will be on-site at Rhyolite Ridge, Ioneer can more quickly produce and efficiently deliver lithium to U.S. battery manufacturers. The innovative process eliminates the need to transfer the material to a separate plant for refining and will allow Ioneer to maximize the lithium’s full potency.
“Rhyolite Ridge is a once in a generation opportunity to produce a critical and reliable source of lithium and boron for the U.S. electric vehicle supply chain. Our best-in-class operations will provide desperately needed domestic materials, create jobs and reduce emissions,” said James Calaway, the executive chairman of Ioneer. “We look forward to completing the important federal permitting process and getting to work.”
“Today’s Mineral Resource Update demonstrates Ioneer’s unique ability to supply secure and strategic materials for electric vehicle battery manufacturers,” said Bernard Rowe, the managing director of Ioneer. “These new findings demonstrate how Ioneer can help the United States sustainably source lithium and boron while combatting climate change. Ioneer looks forward to finalizing the remaining federal requirements and commencing our operations.”
Once federal permitting and construction is complete, Rhyolite Ridge is expected to quadruple current U.S. lithium chemical output. The updated report, conducted by WSP USA Inc, (formerly Golder Associates USA Inc.), now estimates Rhyolite Ridge’s Mineral Resource deposit at 360.0 million tonnes – containing 3.4 million tonnes of lithium carbonate equivalent and 14.1 million tonnes of boric acid equivalent. That reflects a 168% increase in lithium carbonate and 18% increase in boric acid (collectively a 145% increase in mineralized resource) from an April 2020 Ioneer Mineral Resource statement. It also builds on the company's Definitive Feasibility Study, which confirmed Rhyolite Ridge as a world-class lithium and boron project that is expected to become a globally significant, long-life, low-cost source of lithium and boron.
The Department of Energy’s Loan Program Office previously estimated that Rhyolite Ridge could reduce annual domestic gas consumption by nearly 145 million gallons and prevent the release of 1.29 million tonnes of carbon dioxide each year from gas cars. The DOE estimates relied upon the April 2020 findings, and the revised estimates are expected to push those environmental benefits higher.
Today’s resource estimate strengthens the mine plan being permitted by Bureau of Land Management (BLM) that avoids all Tiehm’s buckwheat, a plant classified as an endangered species by the United States Fish and Wildlife Service. Ioneer has also made revisions to include measures to minimize and mitigate for potential indirect impacts within the designated critical habitat areas identified. Prior to its formal federal protection, Ioneer contributed more than $1 million to ensure the plant’s long-term growth and success and has budgeted an additional $1 million annually to protect the species.
The Project’s Mine Plan of Operations, submitted to the BLM in July 2022, is currently under NEPA review.
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From Dew's board - >>> New Ioneer Mineral Resource update finds 168% increase in estimated lithium at Rhyolite Ridge
https://www.businesswire.com/news/home/20230426005886/en/New-Ioneer-Mineral-Resource-update-finds-168-increase-in-estimated-lithium-at-Rhyolite-Ridge
Assuming Ioneer receives the fianl permits required to proceed, Rhyolite Ridge is a game changer for the USA drive to develop domestic mineral sources.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171802827
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>>> Simulations Plus Receives U.S. FDA Renewal for DILIsym Software Licenses
BusinessWire
April 18, 2023
https://finance.yahoo.com/news/simulations-plus-receives-u-fda-123000522.html
Provides FDA with software tools to investigate drug-induced liver injury in clinical trials
LANCASTER, Calif., April 18, 2023--(BUSINESS WIRE)--Simulations Plus, Inc. (Nasdaq: SLP), a leading provider of modeling and simulation software and services for pharmaceutical safety and efficacy, today announced that the U.S. FDA has renewed its licenses to the DILIsym® software platform, the flagship quantitative systems toxicology (QST) software for predicting and investigating drug-induced liver injury (DILI). The one-year renewal provides continued access to DILIsym software for authorized FDA employees across all FDA divisions.
Dr. Paul B. Watkins, chair of the Scientific Advisory Board of the DILI-sim Initiative, commented, "The FDA’s renewal of these licenses endorses the value of DILIsym software in both predicting liver safety liabilities and defining the underlying mechanisms, which are critical to evaluating risk. The recent signing of the FDA Modernization Act 2.0 by President Biden, which encourages the FDA to limit animal use in drug development, should be a positive catalyst for greater utilization of DILIsym software in drug development. In my role as Chair of the SAB, I am very excited about the direction of the public-private partnership that is guiding further development of the DILIsym platform that will benefit many key stakeholders."
Dr. Brett A. Howell, President of the DILIsym Services division at Simulations Plus, added, "Given the effect of rising costs on providing vital healthcare, the use of novel simulation technologies to improve the efficiency of drug development is more critical than ever. An important first step is ensuring that regulatory agencies have the most advanced technology tools to fulfill their essential mission. We are delighted the FDA has opted to renew once again and will continue using DILIsym and other Simulations Plus tools to enable reviews and enhance regulatory science."
DILIsym software results support crucial drug development decisions by predicting potential DILI risk of new drug candidates. The modeling also identifies the biochemical events that lead to DILI caused by a drug and can thereby predict certain subgroups of patients at increased risk for DILI from that drug. The information from DILIsym modeling serves to help guide go/no-go decisions on major drug development projects, potentially avoiding the disastrous financial effects of failed clinical trials, or better, providing assurances that DILI will not be an insurmountable obstacle to regulatory approval. For the past 13 years, DILIsym Services, a division of Simulations Plus, has coordinated the DILI-sim Initiative, which is a public-private partnership that has guided development of the DILIsym software package. DILIsym is available to the pharmaceutical and chemical industries for direct use to predict and understand liabilities via membership in the DILI-sim Initiative consortium and/or commercial licenses. The DILIsym Services division also routinely uses DILIsym for comprehensive consulting services on safety-related issues.
Companies interested in a free trial version of the DILIsym software can request it here.
About Simulations Plus
Serving clients worldwide for more than 25 years, Simulations Plus is a leading provider in the biosimulation market providing software and consulting services supporting drug discovery, development, research, and regulatory submissions. We offer solutions that bridge artificial intelligence (AI)/machine learning, physiologically based pharmacokinetics, quantitative systems pharmacology/toxicology, and population PK/PD modeling approaches. Our technology is licensed and applied by major pharmaceutical, biotechnology, and regulatory agencies worldwide. For more information, visit our website at www.simulations-plus.com. Follow us on LinkedIn | Twitter | YouTube.
Environmental, Social, and Governance (ESG)
We focus our Environmental, Social, and Governance (ESG) efforts where we can have the most positive impact. To learn more about our latest initiatives and priorities, please visit our website to read our ESG Report.
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>>> Simulations Plus (SLP) is a premier developer of groundbreaking drug discovery and development simulation software, which is licensed and used for drug research by major pharmaceutical and biotechnology companies worldwide.
https://finance.yahoo.com/news/4-low-beta-tech-stocks-143202937.html
Currently, Simulations Plus has a Zacks Rank #2. It has a beta of 0.54. Shares of SLP have climbed 15.9% YTD.
Lancaster, CA-headquartered SLP’s performance is being driven by strength in its Services revenues, which increased 4% to $5.3 million in second-quarter fiscal 2023. In March, the company partnered with the Sino-American Cancer Foundation to boost the development of anticancer therapies. Earlier in the same month, it collaborated with the Institute of Medical Biology of the Polish Academy of Sciences to design new compounds for the ROR?/ROR?T nuclear receptors. As part of the agreement, the company is leveraging artificial intelligence/machine learning technologies in the ADMET Predictor platform for the development of new compounds.
The Zacks Consensus Estimate for SLP’s fiscal 2023 earnings is pegged at 66 cents, unchanged over the past seven days. The consensus mark for fiscal 2024 earnings has also remained steady for the past seven days at 71 cents, suggesting an 8.3% year-on-year rise.
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>>> Quipt Home Medical Announces $35 Million Bought Deal Public Offering and Approximate $2 Million Private Placement
CNW Group
April 17, 2023
https://finance.yahoo.com/news/quipt-home-medical-announces-35-204100464.html
CINCINNATI, April 17, 2023 /CNW/ - Quipt Home Medical Corp. ("Quipt" or the "Company") (NASDAQ: QIPT) (TSXV: QIPT), a U.S. based home medical equipment provider focused on end-to-end respiratory care?, is pleased to announce that it has entered into an agreement with Beacon Securities Limited and Canaccord Genuity Corp. (the "Co-Lead Underwriters") on behalf of a syndicate of underwriters (together with the Co-Lead Underwriters, the "Underwriters"). The Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a prospectus supplement, an aggregate of 4,460,000 common shares (the "Common Shares") in the capital of the Company at a price of $7.85 per Common Share (the "Issue Price") for aggregate gross proceeds to the Company of $35,011,000 (the "Public Offering"). Concurrent with the Public Offering, the Company and the Underwriters also intend to complete a brokered private placement of Common Shares at the Issue Price for gross proceeds of approximately $2,000,000 in the Province of Québec on a commercially reasonably best efforts basis (the "Private Placement" and together with the Public Offering, the "Offering").
The Company has granted the Underwriters an option (the "Over-Allotment Option"), exercisable in whole or in part and from time to time, at any time until 30 days after the closing date of the Public Offering, to purchase up to an additional number of Common Shares equal to 15% of the number of Common Shares sold pursuant to the Public Offering at the Issue Price.
The Company intends to use the proceeds of the Offering for repayment of debt, potential future acquisitions, working capital and general corporate purposes. The Offering is expected to close on or about April 25, 2023 and is subject to certain closing conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.
The Common Shares will be offered under the Public Offering in the Provinces and Territories of Canada (other than Quebec) by way of a prospectus supplement to the Company's existing short form base shelf prospectus dated November 11, 2021 to be filed in each of the Provinces and Territories of Canada, and may be offered in the United States to Qualified Institutional Buyers (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the "1933 Act")) by way of private placement pursuant to an exemption from the registration requirements of the 1933 Act, or under other exemptions from the registration requirement that are available under the 1933 Act, and pursuant to any applicable securities laws of any state of the United States. The Common Shares may also be sold in the Province of Quebec pursuant to the Private Placement and in such other jurisdictions outside of Canada and the United States, as mutually agreed to by the Company and the Co-Lead Underwriters.
The securities referred to in this news release have not been, nor will they be, registered under the 1933 Act and may not be offered or sold within the United States or, directly or indirectly, to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
ABOUT QUIPT HOME MEDICAL CORP.
The Company provides in-home monitoring and disease management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease, sleep disorders, reduced mobility, and other chronic health conditions. The primary business objective of the Company is to create shareholder value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company's organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient's services, and making life easier for the patient.
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Bar Harbor Bankshares (BHB) - >>> Remember the Maine
https://realmoney.thestreet.com/investing/stocks/svb-collapse-3-regional-bank-stocks-to-buy-16118210?puc=yahoo&cm_ven=YAHOO
Bar Harbor Bankshares (BHB) is a bank holding company. The company's operating subsidiary, Bar Harbor Bank & Trust, is a community bank that offers a range of deposit, loan, and related banking products, as well as brokerage services provided through a third-party brokerage arrangement. In addition, the company offers trust and investment management services through this subsidiary, as well as wealth management services through its subsidiary Bar Harbor Wealth Management.
Operating over 50 locations across Maine, New Hampshire, and Vermont, Bar Harbor Bank & Trust is headquartered in Bar Harbor, Maine since 1887 and has more than $3.6 billion in assets.
Bar Harbor Bank & Trust is the only community bank headquartered in Northern New England with branches in Maine, New Hampshire, and Vermont. The bank has a good track record in both earnings and dividend growth combined with a good dividend yield which makes the shares attractive for dividend investors. The company is well-positioned and has been able to create a strong loan pipeline and grow its loan portfolio while maintaining credit quality.
On January 19, Bar Harbor released its fourth-quarter 2022 results for the period ending December 31, 2022. For the quarter the company reported revenue of $41.2 million, compared with revenue $38.7 million in Q3 2022 and $34.97 million in Q4 2022. This result was driven by 11% annualized commercial loan growth and 19% commercial loan growth for 2022, compared to 2021. The fourth-quarter core earnings per diluted share equaled $0.83, compared to $0.76 last quarter and $0.65 in the year-ago period.
Bar Harbor's return on assets came in at 1.20% versus 1.14% last year, while the net interest margin equaled 3.76% compared to 2.79% the prior year. The non-performing asset ratio was 0.17% versus 0.27% in 2021. For the full year of 2022, net income was $43.6 million, or $2.88 per diluted share, compared to $39.3 million, or $2.61 per diluted share for 2021, an increase of 11%.
During the past five years, the company's dividend payout ratio has averaged around 42%. Bar Harbor's dividend is comfortably covered by earnings. Given the expected earnings growth, there is room for the dividend to continue to grow at the same pace and keep the payout ratio around the same levels which is safe.
The shares currently yield 3.9%.
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UFP Technologies (UFPT) - >>> Don’t sleep on medical device maker UFP Technologies. The Newburyport, Massachusetts company has been around since 1963 and UFPT stock has been a long-term gainer. In fact, as portfolio manager Eddy Elfenbein notes, the share price has increased 150-fold over the past two decades. “That’s enough to turn $7,000 into over $1 million,” Elfenbein writes.
https://finance.yahoo.com/news/7-stocks-watch-looking-next-005316983.html
The company operates in a niche market for medical devices and its strong position in that market is reflected in its earnings. In the third quarter of 2022, UFP’s sales grew 91% year over year, while organic sales rose 21.7% and operating income swelled by 37%. Earnings per share rose 173% to $1.36, trouncing analyst estimates of 94 cents a share. The company is expected to report Q4 and full-year results in early March.
Stellar earnings have propelled UFPT stock higher both in the short and long term. Despite a 7% year-to-date decline over the past 12 months, the share price has risen 51%. Over the past five years, the stock is up nearly 283%.
UFP Technologies doesn’t offer a dividend, but its current price-earnings ratio of 23 looks fair given the company’s consistent earnings growth and its share price appreciation.
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>>> NuScale Power to Hold 2022 Fourth Quarter and 2022 Year-end Earnings Conference Call on March 15, 2023
Yahoo Finance
February 15, 2023
https://finance.yahoo.com/news/nuscale-power-hold-2022-fourth-115000261.html
PORTLAND, Ore., February 15, 2023--(BUSINESS WIRE)--NuScale Power Corporation (NYSE: SMR), the industry-leading provider of proprietary and innovative advanced small modular reactor nuclear technology, today announced it will host a conference call to discuss 2022 fourth quarter and 2022 year-end results on Wednesday, March 15, 2023, at 5:00 p.m. ET. Financial results will be released after market close that day.
The conference call may be accessed by dialing (888) 550-5460 with conference ID 4347254 or by visiting the "Events & Presentations" section of the company’s website.
A replay of the webcast will be available for 30 days.
About NuScale Power
NuScale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. The company’s groundbreaking VOYGR™ SMR plants are powered by the NuScale Power Module™, a small, safe, pressurized water reactor that can each generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe (12 modules) of output.
As the first and only SMR to have its design certified by the U.S. Nuclear Regulatory Commission, NuScale is well-positioned to serve diverse customers across the world by supplying nuclear energy for electrical generation, district heating, desalination, commercial-scale hydrogen production, and other process heat applications.
Founded in 2007, NuScale is headquartered in Portland, Ore. To learn more, visit NuScale Power’s website or follow us on Twitter, Facebook, LinkedIn, Instagram and YouTube.
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NuScale Power (SMR) - >>> Advanced Small Modular Reactors (SMRs)
https://www.energy.gov/ne/advanced-small-modular-reactors-smrs
Office of Nuclear Energy
Office of Nuclear Energy Reactor Technologies Advanced Small Modular Reactors (SMRs)
These advanced reactors, envisioned to vary in size from tens of megawatts up to hundreds of megawatts, can be used for power generation, process heat, desalination, or other industrial uses.
Advanced Small Modular Reactors (SMRs) are a key part of the Department’s goal to develop safe, clean, and affordable nuclear power options. The advanced SMRs currently under development in the United States represent a variety of sizes, technology options, capabilities, and deployment scenarios. These advanced reactors, envisioned to vary in size from tens of megawatts up to hundreds of megawatts, can be used for power generation, process heat, desalination, or other industrial uses. SMR designs may employ light water as a coolant or other non-light water coolants such as a gas, liquid metal, or molten salt.
Advanced SMRs offer many advantages, such as relatively small physical footprints, reduced capital investment, ability to be sited in locations not possible for larger nuclear plants, and provisions for incremental power additions. SMRs also offer distinct safeguards, security and nonproliferation advantages.
The Department has long recognized the transformational value that advanced SMRs can provide to the nation’s economic, energy security, and environmental outlook. Accordingly, the Department has provided substantial support to the development of light water-cooled SMRs, which are under licensing review by the Nuclear Regulatory Commission (NRC) and will likely be deployed in the late 2020s to early 2030s. The Department is also interested in the development of SMRs that use nontraditional coolants such as liquid metals, salts, and gases for the potential safety, operational, and economic benefits they offer.
Advanced SMR R&D Program
Building on the successes of the SMR Licensing Technical Support (LTS) program, the Advanced SMR R&D program was initiated in FY2019 and supports research, development, and deployment activities to accelerate the availability of U.S.-based SMR technologies into domestic and international markets. Significant technology development and licensing risks remain in bringing advanced SMR designs to market and government support is required to achieve domestic deployment of SMRs by the late 2020s or early 2030s. Through this program, the Department has partnered with NuScale Power and Utah Associated Municipal Power Systems (UAMPS) to demonstrate a first-of-a-kind reactor technology at the Idaho National Laboratory this decade. Through these efforts, the Department will provide broad benefits to other domestic reactor developers by resolving many technical and licensing issues that are generic to SMR technologies, while promoting U.S. energy independence, energy dominance, and electricity grid resilience, and assuring that there is a future supply of clean, reliable baseload power.
U.S. Industry Opportunities for Advanced Nuclear Technology Development
The Department issued a multi-year cost-shared funding opportunity (U.S. Industry Opportunities for Advanced Nuclear Technology Development, DE-FOA-0001817) in 2018 to support innovative, domestic nuclear industry-driven concepts that have high potential to improve the overall economic outlook for nuclear power in the United States. This funding opportunity will enable the development of existing, new, and next-generation reactor designs, including SMR technologies.
The scope of the funding opportunity is very broad and solicits activities involved in finalizing the most mature SMR designs; developing manufacturing capabilities and techniques to improve cost and efficiency of nuclear builds; developing plant structures, systems, components, and control systems; addressing regulatory issues; and other technical needs identified by industry. The funding opportunity will provide awards sized and tailored to address a range of technical and regulatory issues impeding the progress of advanced reactor development. Read more on the FOA. Also, see the awards that have been selected to date.
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>>> Else Nutrition Increases Production Capacity to Satisfy the Increasing Strong Demand
Else Nutrition Holdings Inc.
March 2, 2023
https://finance.yahoo.com/news/else-nutrition-increases-production-capacity-120000049.html
Else adds a second US powder production facility and begins manufacturing in Europe, tripling its production capacity.
Else increases production pace to end out-of-stock and build up inventory levels.
VANCOUVER, British Columbia, March 02, 2023 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC. (BABY) (BABYF) (0YL.F) ("Else" or the "Company"), announces that it has begun manufacturing in a second powder production facility in the US and that it will perform the first commercial production in Europe in March 2023. The additional production facilities more than triple Else’s production capacity.
Until the end of 2022 Else Nutrition had a single powder manufacturing plant that supported its sales in North America and globally. The addition of the two new production facilities will allow Else to satisfy the fast-growing retail demand from brick-and-mortar retailers and online sales from Amazon and Else’s e-store. The additional production will reduce the risk of future out-of-stock dramatically.
In January and February Else performed two commercial production campaigns in the US, resolving many out-of-stock issues. In March Else will perform three additional production campaigns, two in the US and one in Europe, resolving all remaining out-of-stock issues. Else plans to continue its accelerated manufacturing plan throughout 2023 to support the growing demand and to establish a higher level of available inventory.
“The additional production facilities will allow us to stabilize our production and build up sufficient inventory levels to meet the robust demand from our customers.” - Hamutal Yitzhak, Else's CEO, and Co-Founder. “We are excited to have entered a new phase in our journey, where leading grocery and mass North American retailers are now adding our products to their shelves, our ability to properly support this fast-growing demand is critical for our success.”
For more information, visit: www.elsenutrition.com or follow Else Nutrition on LinkedIn
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. is a food and nutrition company in the international expansion stage focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the "2017 Best Health and Diet Solutions" award at Milan's Global Food Innovation Summit. The parent company, Else Nutrition Holdings Inc., is a publicly traded company, listed on the Toronto Stock Exchange under the trading symbol BABY and is quoted on the US OTCQX Market under the trading symbol BABYF and the Frankfurt Stock Exchange under the symbol 0YL. Since launching its Plant-Based Complete Nutrition for Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the brand has received thousands of powerful testimonials and reviews from parents, gained national retailer support, and achieved rapid sales growth. Else became the #1 Best Seller on Amazon in the Fall of 2020 in the New Baby & Toddler Formula Category. It won the 'Best Dairy Alternative' Award 2021 at World Plant-Based Expo and was a Nexty Award Finalist at Expo West 2022 in the Plant-Based lifestyle category. During September 2022 Else Super Cereal reached the #1 Best Seller in Baby Cereal across all brands on Amazon.
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>>> Winmark Corporation Announces Year End Results
BusinessWire
March 1, 2023
https://finance.yahoo.com/news/winmark-corporation-announces-end-results-154200008.html
MINNEAPOLIS, March 01, 2023--(BUSINESS WIRE)--Winmark Corporation (Nasdaq: WINA) announced today net income for the year ended December 31, 2022 of $39,424,900 or $10.97 per share diluted compared to net income of $39,919,900 or $10.48 per share diluted in 2021. The fourth quarter 2022 net income was $10,176,600 or $2.86 per share diluted, compared to net income of $11,589,000 or $3.09 per share diluted, for the same period last year. Revenues for the year ended December 31, 2022 were $81,410,800 up from $78,216,200 in 2021. Financial performance for 2022 included an extra week of operations due to the Company’s fiscal year ending on the last Saturday of December.
Brett D. Heffes, Chairman and Chief Executive Officer commented "I am pleased with Winmark’s operational and financial performance during 2022. Our talented franchise partners continue to make a positive impact in the local communities they serve. Increased marketing investments during the year yielded an improvement in new store development activity."
Winmark - the Resale Company®, is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At December 31, 2022, there were 1,295 franchises in operation and over 2,800 available territories. An additional 57 franchises have been awarded but are not open.
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>>> UFP Technologies Announces Record 2022 Results
UFP Technologies, Inc.
March 7, 2023
https://finance.yahoo.com/news/ufp-technologies-announces-record-2022-135900481.html
.
NEWBURYPORT, Mass., March 07, 2023 (GLOBE NEWSWIRE) -- UFP Technologies, Inc. (Nasdaq: UFPT), a designer and custom manufacturer of engineered solutions primarily for the medical market, today reported net income of $41.8 million or $5.45 per diluted common share outstanding for its year ended December 31, 2022, compared to net income of $15.9 million or $2.09 per diluted common share outstanding for 2021. Net Sales for 2022 were $353.8 million compared to 2021 sales of $206.3 million.
For its fourth quarter ended December 31, 2022, the Company reported net income of $8.5 million or $1.10 per diluted common share outstanding, compared to $3.2 million or $0.42 per diluted common share outstanding in the same period of 2021. Sales for the fourth quarter 2022 were $91.2 million versus 2021 fourth quarter sales of $56.3 million.
“I am very pleased with our 2022 results, as sales grew 72% and EPS grew 160%,” said R. Jeffrey Bailly, Chairman & CEO. “We integrated two key acquisitions completed at the end of 2021, DAS Medical in the Dominican Republic and Contech Medical in Rhode Island and Costa Rica. We also completed and integrated another major acquisition, Advant Medical, which brought us a key strategic location in Galway, Ireland along with new capabilities and many important synergies. Each acquisition has performed above our expectations and made us more valuable to our customers. In addition, we completed our factory start-up in Tijuana, Mexico, transitioning from a dirt field to a completed facility shipping production parts in just eight months. We certified our quality system and launched our first program ahead of schedule and under budget.”
“Amid all this exciting activity, our base business grew organically at an impressive 18.6% in 2022,” said Bailly. “And operating income grew by 161%, or 106% after eliminating non-operational items, such as acquisition earnout adjustments and gains on the sale of real estate and our Molded Fiber division, which we sold to tighten our focus on our fastest-growing market opportunities.”
“I am very proud of the UFP team, which grew substantially in 2022 and now totals approximately 3,000 associates,” Bailly added. “They worked incredibly hard navigating challenging supply chain issues and a difficult labor market, and delivered excellent results. Looking ahead, I am very bullish about our future as we continue to realize acquisition synergies and gain the benefits of our recent investments in new clean rooms, production capacity, talent and more. And with only about $55 million in debt, our balance sheet remains strong, allowing us to execute additional internal and external growth initiatives.”
Financial Highlights:
Sales for the fourth quarter increased 61.9% to $91.2 million, from $56.3 million in the same period of 2021. Sales for the full year of 2022 increased 71.5% to $353.8 million from $206.3 million in the same period of 2021.
Fourth quarter sales to the medical market increased 108.0%. Sales to all other markets decreased 28.5% to $13.5 million, largely due to the sale of Molded Fiber. Year-to-date sales to the medical market increased 116.0% to $286.2 million. Sales to all other markets decreased 8.4% to $67.6 million.
Gross profit as a percentage of sales (“gross margin”) increased to 25.5% for the fourth quarter, from 23.2% in the same quarter of 2021. Gross margin for the full year of 2022 increased to 25.5%, from 24.8% in the same period of 2021.
Selling, general and administrative expenses (“SG&A”) for the fourth quarter increased 46.1% to $11.9 million compared to $8.1 million in the same quarter of 2021. Full year 2022 SG&A increased 55.3% to $45.8 million, from $29.5 million in the same period of 2021.
For the fourth quarter, operating income increased to $10.9 million, from $4.6 million in the same quarter of 2021. Full year 2022 operating income increased to $55.4 million, from $21.2 million in the same period of 2021, and adjusted operating income increased to $44.5 million, from $21.6 million. See the reconciliation provided in Table 1. Adjusted Operating Income is a financial measure not presented in accordance with generally accepted accounting principles ("GAAP") (a "Non-GAAP Financial Measure"). Please see "Non-GAAP Financial Information" at the end of this news release.
Net income increased to $8.5 million in the fourth quarter, from $3.2 million in the same period of 2021. Full year 2022 net income increased to $41.8 million, from $15.9 million in the same period of 2021.
EBITDA for the year ended December 31, 2022 increased to $70.6 million from $32.1 million in the same period of 2021, and adjusted EBITDA increased to $59.6 million from $32.5 million. See the reconciliation provided in Table 2. EBITDA and Adjusted EBITDA are Non-GAAP Financial Measures. Please see "Non-GAAP Financial Information" at the end of this news release.
About UFP Technologies, Inc.
UFP Technologies is a designer and custom manufacturer of engineered solutions primarily for the medical market. Utilizing highly specialized foams, films and plastics, UFP converts raw materials through laminating, molding, radio frequency welding and fabricating techniques. The Company is diversified by also providing highly engineered solutions to customers in the aerospace & defense, automotive, and industrial markets.
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