Micro Cap Ideas

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>>> SenesTech Expands E-Commerce Presence with Evolve Rodent Birth Control™ Now Available on TractorSupply.com


PR Newswire

February 10, 2025


https://finance.yahoo.com/news/senestech-expands-e-commerce-presence-142000589.html


PHOENIX, Feb. 10, 2025 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES, "SenesTech"), a pioneer in humane rodent pest control solutions, is pleased to announce that its Evolve™ Rodent Birth Control product line is now available for purchase on TractorSupply.com. This expansion represents another key milestone in SenesTech's e-commerce growth strategy, bringing its innovative and effective rodent control solution to a broader customer base nationwide.

Tractor Supply Company is the largest rural lifestyle retailer in the United States, operating over 2,200 stores across 49 states. Tractor Supply serves farmers, ranchers, homeowners, and outdoor enthusiasts with a wide range of products, including pet and livestock supplies, hardware, and pest control solutions. Tractor Supply's e-commerce platform has seen significant growth, complementing its brick-and-mortar presence and providing customers with convenient access to quality products online.

The availability of Evolve Rodent Birth Control on TractorSupply.com adds to SenesTech's growing online retail footprint, which already includes Amazon, Walmart.com, and DIYpestcontrol.com. This multi-platform approach aligns with the SenesTech's strategy to expand its e-commerce presence and make Evolve more accessible to consumers and businesses seeking a humane and effective solution for rodent control.

"Our expansion onto TractorSupply.com is an important step in strengthening our online distribution to reach more customers who need safe, non-toxic rodent control solutions," said Joel Fruendt, President and CEO of SenesTech. "We are seeing strong growth in this area, particularly on Amazon, where our store has experienced a 27% quarter-over-quarter increase in sales. As consumer demand for sustainable and humane rodent pest control solutions continues to rise, we remain committed to expanding our digital presence and ensuring Evolve Rodent Birth Control is available wherever customers shop for rodent control."

About SenesTech, Inc.

SenesTech is committed to creating healthier environments by humanely managing animal pest populations through fertility control. The company's groundbreaking products, including Evolve™ rodent birth control, integrate seamlessly into pest management programs, significantly enhancing their effectiveness while reducing reliance on traditional poisons. SenesTech's mission is to create cleaner cities, more efficient businesses, and healthier communities with products that are humane, effective, and sustainable.

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>>> Elite Pharmaceuticals, Inc. (ELTP), a specialty pharmaceutical company, engages in the development, manufacture, and sale of oral, controlled-release products, and generic pharmaceuticals. The company operates through Abbreviated New Drug Applications for Generic Pharmaceuticals and New Drug Applications for Branded Pharmaceuticals segments. It owns, licenses, manufactures, and sells various generic and oral dose pharmaceuticals products, such as Phentermine HCl 37.5mg tablets, and 15mg and 30mg capsules for the treatment of bariatrics under Adipex-P brand; Phendimetrazine Tartrate 35mg tablets for bariatrics under the Bontril brand; Naltrexone HCl 50mg tablets for the treatment of pains under the Revia brand; and Isradipine 2.5mg and 5mg capsules for cardiovascular diseases. In addition, the company provides Trimipramine Maleate Immediate Release antidepressant capsules under the Surmontil brand; Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, and Amphetamine Sulfate Immediate Release tablets under the Adderall brand, as well as Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate Extended Release capsules under the Adderall XR brand for central nervous system diseases; Dantrolene Sodium capsules for muscle relaxant under the Dantrium brand; SequestOX, an immediate release Oxycodone with Naltrexone; Loxapine Succinate capsules for treating antipsychotic under the Loxapine brand; Acetaminophen and Codeine Phosphate for the management of mild to moderate pain; and antibiotic products. Further, it manufactures controlled-release products on a contract basis for third parties in the areas of pain, allergy, bariatric, attention deficit, and infection. Additionally, the company is developing a range of abuse deterrent opioid products. Elite Pharmaceuticals, Inc. was incorporated in 1997 and is headquartered in Northvale, New Jersey.

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>>> SuperCom Ltd (SPCB) Q3 2024 Earnings Call Highlights: Strategic Wins and Revenue Surge Amid ...


GuruFocus News

November 15, 2024


https://finance.yahoo.com/news/supercom-ltd-spcb-q3-2024-071128626.html


For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

SuperCom Ltd (NASDAQ:SPCB) reported a significant increase in revenue to $21.3 million for the first nine months of 2024, showcasing successful execution of strategic initiatives.

The company achieved a dramatic improvement in gross profit margin to 50.1% from 30.7% in the prior year period.

SuperCom Ltd (NASDAQ:SPCB) secured a prestigious contract for the National Israeli Electronic Monitoring Project, enhancing its leadership position.

The company expanded its footprint in the US market by entering new regions such as New York, West Virginia, and Maryland.

SuperCom Ltd (NASDAQ:SPCB) reported positive free cash flow of $1.2 million, a significant improvement from a negative number in the previous year.

Negative Points

The company's quarterly gross profit margin decreased to 46% from 59% in the same quarter last year, primarily due to project mix and timing.

SuperCom Ltd (NASDAQ:SPCB) faces macroeconomic uncertainties and ongoing global challenges, including those in Israel.

The company has experienced continual dilutions over the last couple of years, which has been a concern for long-term shareholders.

The US market remains largely untapped for SuperCom Ltd (NASDAQ:SPCB), requiring more resources and strategic efforts to accelerate growth.

The deployment of new systems incurs high initial costs, impacting margins until additional units are added.

Q & A Highlights

Q: Can you touch on what the pipeline looks like for Europe in 2025? Are there any large national projects that you're pursuing now that could close in 2025? A: Our entry into the European market started with small projects and has grown to larger ones, such as the $33 million project in Romania. We are now well-positioned to compete for any RFP in Europe. There are many countries we haven't entered yet, like England, France, and Germany, which present opportunities of various sizes. We continue to monitor and bid on projects across Europe.

Q: When you bid on new projects in Europe, are you usually displacing legacy systems, or are they looking for additional functionality? A: National programs often encompass all electronic monitoring programs, including house arrest, GPS monitoring, and domestic violence. We often displace incumbents by offering significant improvements and new solutions like domestic violence monitoring. Our technology offers longer battery life and other capabilities, which are compelling for governments to switch vendors.

Q: Regarding the US market, do you need to add resources to accelerate your expansion, or do you expect to add more boots on the ground? A: The US market moves faster than Europe, often involving counties and resellers rather than national projects. This requires more feet on the ground due to the fragmented market. We are focused on maintaining profitability while optimizing our cash use and sales efforts. We have seen growth even as we work efficiently with our capital.

Q: How many new shares were issued as part of the debt-to-equity conversion this quarter? A: No new shares were issued in the third quarter. Over the year, we've done several conversions at a premium, reducing our long-term liability by $4.5 million, which benefits shareholders by reducing debt while using a significant premium to the market price.

Q: Can you expand on the deal in Israel, particularly the structure and opportunities for expansion? A: The project in Israel is a five-year contract with options for four one-year extensions, totaling nine years. It starts with house arrest and is expected to cover 1,500 offenders. It's a lease model, and as the government decides to deploy more programs, we will be the vendor. There is potential for additional programs to be added, which would be valuable.

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>>> SuperCom Ltd. (SPCB) provides traditional and digital identity, Internet of Things (IoT) and connectivity, and cyber security products and solutions to governments and private and public organizations worldwide. The company operates through three segments: e-Gov, IoT and Connectivity, and Cyber Security. It offers national ID registries, e-passports, biometric visas, automated fingerprint identification systems, digitized driver's licenses, and electronic voter registration and election management using MAGNA platform. The company also provides PureRF, a solution based on RFID tag technology to identify, locate, track, monitor, count, and protect people and objects. Its PureRF suite includes PureRF Tags, Hands-Free Long-Range RFID Asset and Vehicle Tags, PureRF Readers, PureRF Activators, PureRF Initializer, House Arrest Monitoring System, PureTag RF Bracelet, PureCom RF Base Station, GPS Offender Tracking System, PureTrack, PureBeacon, PureMonitor Offender Electronic Monitoring Software, Inmate Monitoring System, DoorGuard, and Personnel Tag.

In addition, the company offers domestic violence victim protection systems and PureProtect smartphone app. Further, it provides connectivity products and solutions comprising AVIDITY WBSac, BOLSTER WBSn, BreezeULTRA P6000, Arena controller, and BreezeNET B; cyber security strategic business unit products and solutions, including Safend Encryptor, Safend Protector, Safend Inspector, Safend Discoverer, and SafeMobile; and wireless and RFID products, such as solutions for carrier Wi-Fi, enterprise connectivity, smart city, smart hospitality, connected campuses, and connected events. It sells its systems and products through local representatives, subsidiaries, and distribution channels, as well as independent representatives, resellers, and distributors.

The company was formerly known as Vuance Ltd. and changed its name to SuperCom Ltd. in January 2013. SuperCom Ltd. was incorporated in 1988 and is based in Tel Aviv, Israel.

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https://finance.yahoo.com/quote/SPCB/profile/


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>>> Why Is SuperCom Stock Jumping Around 100% On Thursday?


Benzinga

by Lekha Gupta

January 2, 2025


https://finance.yahoo.com/news/why-supercom-stock-jumping-around-160552348.html


SuperCom, Ltd. (NASDAQ:SPCB) shares are rocketing on Thursday after the company disclosed securing two new contracts with major agencies in Kentucky.

SuperCom said it won the contracts by surpassing incumbent providers for each agency, demonstrating confidence in its technologies.

These agreements will implement SuperCom’s advanced public safety technologies, aiming to improve monitoring capabilities and deliver customized, reliable solutions to meet the agencies’ requirements.

This accomplishment broadens SuperCom’s U.S. footprint and solidifies its reputation as a dependable electronic monitoring and public safety system provider.

By building direct relationships with government agencies and delivering customized solutions, SuperCom bolsters Kentucky’s public safety infrastructure with advanced tools aimed at improving offender tracking and promoting rehabilitation.

Ordan Trabelsi, President and CEO, said, “Our growing presence in Kentucky is part of SuperCom’s broader U.S. expansion, where we continue to introduce innovative public safety technologies that address the evolving needs of agencies and communities.”

“This recent success, accompanied by a stream of new contract wins, highlights the momentum we’re experiencing across the U.S., as we strengthen our position as a leading provider of electronic monitoring and public safety solutions.”

Earlier this week, the company announced it secured new contracts with South Dakota Sheriff agencies.

This marks SuperCom’s first expansion into South Dakota, further strengthening its presence in the U.S. South Dakota is the fourth new state the company has entered since August 2024.

Price Action: SPCB shares are up 97% at $9.495 at the last check Thursday.

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>>> United States Antimony Corporation (UAMY) produces and sells antimony, silver, gold, precious metals, and zeolite products in the United States, and Canada. It operates through Antimony, Zeolite, and Precious Metals segments. The company offers antimony oxide that is primarily used in conjunction with a halogen to form a synergistic flame retardant system for plastics, rubber, fiberglass, textile goods, paints, coatings, and paper, as well as color fastener in paints and as a phosphorescent agent in fluorescent light bulbs; antimony trisulfide used as a primer in ammunition; and antimony metal for use in bearings, storage batteries, and ordnance.

The company also offers coarse and fine zeolite for soil amendment and fertilizer, water filtration, sewage treatment, nuclear waste and other environmental cleanup, odor control, gas separation, and animal nutrition applications, as well as in catalysts, petroleum refining, concrete, solar energy and heat exchange, desiccants, pellet binding, horse and kitty litter, and floor cleaners, as well as carriers for insecticides, pesticides, and herbicides. In addition, it recovers unrefined and refined gold and silver. United States Antimony Corporation was founded in 1968 and is based in Thompson Falls, Montana.

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https://finance.yahoo.com/quote/UAMY/profile/


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Unusual Machines (UMAC) - >>> Donald Trump Jr. joins a drone maker's board — and the stock soars 90%


Quartz

by Rocio Fabbro

November 27, 2024


https://www.yahoo.com/tech/donald-trump-jr-joins-drone-160900046.html


Key Takeaways

Drone maker Unusual Machines (UMAC) announced Wednesday that President-elect Donald Trump’s eldest son, Donald Trump Jr., will join its advisory board. That sent the little-known company’s stock soaring.

Allan Evans, chief executive officer of Unusual Machines, said in a statement that Trump Jr. “provides us unique expertise we need as we bring drone component manufacturing back to America.”

Shares of the Orlando, Florida-based company climbed 89% Wednesday, trading at about $10. Unusual Machines has a market capitalization of $67.18 million.

The move does not appear to be related to the younger Trump’s recent decision to join venture capital firm 1789 Capital.

“The need for drones is obvious. It is also obvious that we must stop buying Chinese drones and Chinese drone parts,” Donald Trump Jr. said in a statement. “I love what Unusual Machines is doing to bring drone manufacturing jobs back to the USA and am excited to take on a bigger role in the movement.”

The company has put a particular emphasis on onshoring drone production and component manufacturing, in a similar vein with the president-elect’s hardline stances on tariffs and other import restrictions.

“By reducing reliance on foreign-made products and strengthening domestic supply chains, Unusual Machines is helping to safeguard U.S. technological leadership in the drone industry,” the company said in its announcement.

Unusual Machines began trading on the New York Stock Exchange in February, under the ticker UMAC, after completing an initial public offering of 1.25 million shares at a price of $4 each, valuing the company at $5 million.

Since going public, the company’s shares are up 250%. As of Wednesday morning, they hit an all-time high of $11.67 in intraday trading, boosted by the Trump connection. Shares closed at $5.36 on Tuesday.

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>>> ZenaTech signed Blue UAS, NDAA compliant partner agreements for supply chain


TipRanks

November 22, 2024


https://finance.yahoo.com/news/zenatech-signed-blue-uas-ndaa-124630710.html


https://www.tipranks.com/news/the-fly/zenatech-signed-blue-uas-ndaa-compliant-partner-agreements-for-supply-chain
ZenaTech (ZENA) announces that it has signed Blue Unmanned Aerial Systems, UAS, and US National Defense Authorization Act, NDAA, compliant partner agreements for its supply chain in order to sell its ZenaDrone 1000 AI drone solutions to US Defense branches and to NATO forces. Through its subsidiary ZenaDrone, the Company recently participated in a Taiwan Trade Mission organized by the Arizona Commerce Authority, ACA, that directly resulted in these partnerships. ZenaTech can now confirm that all ZenaDrone’s electrical components and supply chain will comply with NDAA standards. ZenaDrone previously completed paid trials with both the US Air Force and US Naval Research using its drones for carrying critical cargo — such as blood — in the field.

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>>> Hyliion Holdings - Top US Penny Stocks To Watch In November 2024


Simply Wall St

November 20, 2024


https://finance.yahoo.com/news/starbucks-considers-selling-stake-chinese-044324837.html


Overview: Hyliion Holdings Corp. develops sustainable electricity-producing technology focused on clean and efficient energy solutions, with a market cap of approximately $540.31 million.

Operations: Hyliion Holdings Corp. has not reported any specific revenue segments.

Market Cap: $540.31M

Hyliion Holdings Corp., with a market cap of US$540.31 million, exemplifies the challenges and potential of penny stocks. The company is pre-revenue, focusing on innovative energy solutions like the KARNO generator, which recently demonstrated its versatile fuel capabilities. Despite being debt-free and having short-term assets of US$161.4 million exceeding liabilities, Hyliion faces financial hurdles with less than a year of cash runway if free cash flow continues to decline at historical rates. While unprofitable with a negative return on equity, its revenue is forecasted to grow significantly in the coming years as it targets sectors such as EV charging and data centers.

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Climb Global Solutions - >>> Undiscovered Gems in United States to Explore November 2024


Simply Wall St

November 5, 2024


https://finance.yahoo.com/news/undiscovered-gems-united-states-explore-100248447.html


Climb Global Solutions

Overview: Climb Global Solutions Inc. is a value-added IT distribution and solutions company operating in the United States, Canada, Europe, the United Kingdom, and internationally with a market cap of $448.58 million.

Operations: Climb Global Solutions generates revenue primarily from its distribution segment, contributing $384.88 million, while the solutions segment adds $25.75 million. The company's net profit margin is a key metric to consider when evaluating its financial performance.

Climb Global Solutions, a nimble player in the tech sector, is making waves with its strategic acquisitions and partnerships. Recent collaborations, such as with Douglas Stewart Software, have bolstered its position in North America. Over the past year, earnings surged by 42%, outpacing the electronic industry’s -7.3%. The company reported third-quarter sales of US$119 million and net income of US$5.46 million compared to last year's figures of US$78 million and US$2.37 million respectively. Despite a debt-to-equity ratio increase to 1% over five years, Climb remains cash-rich with more assets than liabilities.

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>>> Acurx Pharmaceuticals, Inc. Reports Third Quarter 2024 Results and Provides Business Update


PR Newswire

November 13, 2024


https://finance.yahoo.com/news/acurx-pharmaceuticals-inc-reports-third-120000114.html


STATEN ISLAND, N.Y., Nov. 13, 2024 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) ("we" or "Acurx" or the "Company"), a late-stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections, announced today certain financial and operational results for the third quarter ended September 30, 2024.

Highlights of the third quarter ended September 30, 2024, or in some cases shortly thereafter, include:

In July 2024, results from the ibezapolstat (IBZ) Phase 2 clinical trial in patients with C. difficile Infection (CDI) were presented at the 17th Biennial Congress of the Anaerobe Society of the Americas by Taryn A. Eubank, PharmD, BCIDP, Research Assistant Professor, University of Houston College of Pharmacy delivered an oral presentation entitled: "Clinical Efficacy of Ibezapolstat in CDI: Results from Phase 2 trials."

Also in July 2024, and very timely given our late-stage development progress, the USPTO (United States Patent and Trademark Office) granted Acurx a new patent for ibezapolstat which specifically encompasses the "treatment of C. difficile Infection while reducing recurrence of infection and improving the health of the gut microbiome". This patent expires in June 2042 and we believe will provide an important downstream competitive advantage.

In August 2024, we submitted our request to FDA for a meeting to review our manufacturing processes and specifications for drug substance and final product and packaging (a "CMC Meeting") in order to commence Phase 3 clinical trials. This FDA submission is customary and follows our successful End of Ph2 clinical meeting with FDA which confirmed our Ph3 clinical trial readiness. We anticipate convening a meeting with FDA regarding CMC in the fourth quarter.

In September 2024, a presentation was given by Executive Chairman, Bob DeLuccia, at the World Antimicrobial Resistance Scientific Congress held in Philadelphia. In his presentation at the Innovation Showcase session, he highlighted that we have a complete roadmap, not only for the required components of our phase 3 clinical program, but also what's required for ultimate filing of an NDA (or New Drug Application) which is to be followed by submissions for Marketing Authorizations in other countries around the world. He also presented an update on the Company's preclinical GPSS® (Gram Positive Selective Spectrum) program for systemic oral and IV treatment of other gram-positive infections including, MRSA, VRE and DRSP.

Also in September 2024, we participated at the 8th Annual C. Difficile Symposium (or ICDS) in Bled, Slovenia, which is the premier global scientific venue for the review of C. Difficile research. At the ICDS Meeting, two presentations were made on behalf of the Company.

Additionally in September 2024, we announced that selected ACX-375 DNA pol IIIC analogues demonstrated in vitro activity against B. anthracis (or Anthrax), which is a Bioterrorism Category A pathogen, including activity against ciprofloxacin-resistant Anthrax. This work was performed at two independent qualified laboratories including the University of Florida. Planning is underway for an Anthrax bioterrorism development program.

In October 2024, we participated at IDWeek in Los Angeles, the annual scientific conference of the Infectious Diseases Society of America. Drs. Kevin Garey and Taryn Eubank presented a scientific poster showing that in the Phase 2b clinical trial, ibezapolstat had comparable clinical cure and sustained clinical cure rates and safety profile to vancomycin. Also, 5 of 5 ibezapolstat patients who were followed for 3 months after end of treatment (EOT) experienced no recurrence. Ibezapolstat-treated patients showed decreased concentrations of fecal primary bile acids, and higher ratios of secondary to primary bile acids than vancomycin-treated patients.

International regulatory filing initiatives will continue in Q4 2024.

Third Quarter 2024 Financial Results

Cash Position:

The Company ended the quarter with cash totaling $5.8 million, compared to $7.5 million as of December 31, 2023. During the third quarter, the Company raised additional proceeds under its ATM financing program, with gross proceeds of approximately $1.6 million.

R&D Expenses:

Research and development expenses for the three months ended September 30, 2024 were $1.2 million compared to $1.3 million for the three months ended September 30, 2023. The decrease was due primarily to an increase in manufacturing related costs during the quarter of $0.1 million, offset by a reduction in consulting fees of $0.2 million. For the nine months ended September 30, 2024 research & development expenses were $4.6 million compared to $4.1 million for the nine months ended September 30, 2023, an increase of $0.5 million primarily due to $0.9 million increase in manufacturing related costs, offset by $0.4 million decrease in consulting fees.

G&A Expenses:

General and administrative expenses for the three months ended September 30, 2024 were $1.6 million compared to $1.8 million for the three months ended September 30, 2023, a decrease of $0.2 million. The decrease was primarily due to $0.2 million increase in professional fees, a $0.1 million increase in compensation costs, offset by a $0.5 million decrease in non cash share-based compensation related costs. For the nine months ended September 30, 2024, general and administrative expenses were $6.7 million compared to $5.4 million for the nine months ended September 30, 2023, an increase of $1.3 million. The increase was primarily due to $1.1 million increase in professional fees and a $0.2 million increase in legal costs.

Net Income/Loss:

The Company reported a net loss of $2.8 million or $0.17 per diluted share for the three months ended September 30, 2024 compared to a net loss of $3.1 million or $0.24 per diluted share for the three months ended September 30, 2023, and a net loss of $11.3 million or $0.71 per share for the nine months ended September 30, 2024, compared to a net loss of $9.5 million or $0.77 per share for the nine months ended September 30, 2023 for the reasons previously mentioned. The Company had 16,770,378 shares outstanding as of September 30, 2024.

Conference Call

As previously announced, David P. Luci, President and Chief Executive Officer, and Robert G. Shawah, Chief Financial Officer, will host a conference call to discuss the results and provide a business update as follows:

Date:

Wednesday, November 13, 2024

Time:

8:00 a.m. ET

Toll free (U.S. and International):

877-790-1503

Conference ID:

13749688

About Ibezapolstat

Ibezapolstat is the Company's lead antibiotic candidate preparing to advance to international Phase 3 clinical trials to treat patients with C. difficile Infection (CDI). Ibezapolstat is a novel, orally administered antibiotic being developed as a Gram-Positive Selective Spectrum (GPSS®) antibacterial. It is the first of a new class of DNA polymerase IIIC inhibitors under development by Acurx to treat bacterial infections. Ibezapolstat's unique spectrum of activity, which includes C. difficile but spares other Firmicutes and the important Actinobacteria phyla, appears to contribute to the maintenance of a healthy gut microbiome.

In June 2018, ibezapolstat was designated by the U.S. Food and Drug Administration (FDA) as a Qualified Infectious Disease Product (QIDP) for the treatment of patients with CDI and will be eligible to benefit from the incentives for the development of new antibiotics established under the Generating New Antibiotic Incentives Now (GAIN) Act. In January 2019, FDA granted "Fast Track" designation to ibezapolstat for the treatment of patients with CDI. The CDC has designated C. difficile as an urgent threat highlighting the need for new antibiotics to treat CDI.

About Acurx Pharmaceuticals, Inc.

Acurx Pharmaceuticals is a late-stage biopharmaceutical company focused on developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections. The Company's approach is to develop antibiotic candidates with a Gram-positive selective spectrum (GPSS®) that blocks the active site of the Gram+ specific bacterial enzyme DNA polymerase IIIC (pol IIIC), inhibiting DNA replication and leading to Gram-positive bacterial cell death. Its R&D pipeline includes antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile, methicillin-resistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE) and drug-resistant Streptococcus pneumoniae (DRSP).

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>>> First Atlantic Drills New Discovery at RPM Zone with 394 Meters of Visually Disseminated Awaruite, 10 km South of Super Gulp Zone


First Atlantic Nickel Corp.

November 12, 2024


https://finance.yahoo.com/news/first-atlantic-drills-discovery-rpm-110000138.html


VANCOUVER, British Columbia, Nov. 12, 2024 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to provide an update on ongoing drilling at its 100% owned, multi-zone, district-scale Atlantic Nickel Project in central Newfoundland, Canada (the "Atlantic Nickel Project" or the "Project"). Drilling in the RPM Zone has resulted in a new discovery of disseminated, visible, sulfur-free nickel-iron alloy (awaruite) throughout a 394-meter hole located 10 km south of the Super Gulp Zone and 25 km south of historic drilling at Atlantic Lake. This drill hole follows the recent discoveries of multiple new zones containing visible awaruite across the Project's 30 km nickel trend during the summer sampling program.

Highlights:

First Discovery Hole at RPM Zone: The first hole at RPM was drilled to 394 meters, intersecting visible, disseminated nickel-iron alloy (awaruite) mineralization from the surface throughout the entire drill hole.

Major Step Out Drilling: The RPM Zone discovery is located 25 km south of historic drilling at Atlantic Lake and 10 km south of Super Gulp discovery.

Large Awaruite Grain Size: Large disseminated awaruite grains, visible to the naked eye, increase in size down hole, frequently exceeding 25 microns. Numerous 500+ micron sized grains were observed throughout the drill hole, well above the 10-micron threshold for effective magnetic separation1.

Confirmed Nickel & Chromium Presence: An XRF analyzer confirmed the presence of nickel and chromium throughout the drill hole. Samples are now being prepared for assays, with results expected in the coming months.

Ongoing Drilling at RPM Target: The drill program continues to test the high-priority RPM target, with ongoing drilling to expand the size and definition of the mineralized area.

Potential for Low-Cost Mining: The drilling has revealed heavily fractured, broken, and sheared serpentinized nickel host rock, which may allow for lower-cost initial mining methods like ripping instead of conventional drilling and blasting.

Smelter-Free Nickel: Awaruite (Ni3Fe), a sulfur-free nickel-iron alloy, allows for magnetic processing without smelting, potentially creating a resilient North American nickel supply chain.

For further information, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by phone at [phone] or via email at [e-mail]

RPM Zone Drill Hole 001 Highlights:

Visible Disseminated Awaruite: Visible disseminated awaruite was observed from the surface to 394 meters, with the hole ending in zones of coarser-grained mineralization.

Increasing Grain Size with Depth: Awaruite grain sizes increase with depth, starting at up to 200 microns and reaching over 500 microns in coarser zones.

Open at Depth: Mineralization remains open at depth, with additional drilling planned to further define and expand the zone.

Significant Discovery: The RPM Zone represents a significant discovery within the ongoing exploration program, with high priority for further exploration to assess its extent and potential.

Ongoing Drilling at RPM Target: The drill program continues to test the high-priority RPM target, where the largest visible awaruite grains were discovered during the summer 2024 surface sampling program. Drilling is ongoing at the RPM Zone to expand the size and better define the footprint of the mineralized area.

Drill Hole 001 (AN-24-02) at the RPM Zone was drilled to the east at a -60 degree dip, penetrating less than 10 meters of overburden before intersecting heavily serpentinized ultramafic rock. Visible disseminated awaruite was observed from the surface to 394 meters, where the hole ended in zones of coarse-grained mineralization, suggesting the potential for significant awaruite accumulations. Throughout the core, awaruite grain sizes were noted to increase with depth, starting with grains up to 200 microns and reaching over 500 microns in coarser zones. The rock matrix ranged from dark to pale brown to green, exhibiting a brecciated style texture due to numerous fractures and veins of serpentine and magnetite. This mineralization remains open at depth, prompting the Company to plan additional drilling to further define and expand the zone.

The RPM Zone itself was a significant discovery made in the summer of 2024 by geologists Dr. Ron Britten, Pearce Bradley, and Michael Piller during regional exploration of the ophiolite belt. Their work identified high-priority areas through subcrop and float samples near the end of a 30 km high magnetic ophiolite sequence. Surface sampling in 2024 detected mineralized ultramafic boulders with abundant awaruite, leading to discovery drilling that confirmed the mineralization in the core. Furthermore, an increase in chromium was observed, with chromite appearing as a lustrous metallic black mineral within the rock.

The successful identification of coarse grained awaruite at the surface, and in drilling, highlights the significance of the RPM Zone. This area will be prioritized for further exploration to assess its extent and potential, as it represents a significant discovery within the ongoing exploration program.

Adrian Smith CEO Quote

"We are thrilled with the continued success at the Atlantic Nickel Project, as we discover coarse-grained nickel-alloy in the first-ever drill hole at the RPM Zone, located approximately 10 km south of the Super Gulp area. This discovery extends known mineralization 25 km from the Atlantic Lake area, with visible awaruite disseminated within the ultramafic rock unit, which is part of the large-scale ophiolite located on the property.

I want to congratulate the project geologists and field team, with the aid of Dr. Ron Britten, PhD, for their early success leading to this discovery, finding significant visible mineralization in the drilling. Our strategy continues to focus on identifying and establishing areas with large volumes of nickel alloy, with the goal to uncover a district-scale nickel project.

The 2024 exploration program has yielded remarkable results, not only with this major discovery but also with similar findings from other areas within the 30km ophiolite trend. These findings indicate the presence of multiple high-potential zones, suggesting the possibility of a larger nickel district. We look forward to providing additional updates as our exploration progresses, with a focus on expanding the scale of our step-out drilling to further delineate the extent of this exciting new discovery."

Awaruite (Nickel-iron alloy Ni2Fe, Ni3Fe)

Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni3Fe or Ni2Fe with approximately ~75% nickel content, offers a proven and environmentally safer solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing without the need for smelting. Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC)2. These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing.

The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel"3. Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining.

The development of awaruite resources is crucial, given China's dominance in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply5. Awaruite offers an environmentally safer, more sustainable, and domestically processable nickel source to meet the growing demand in stainless steel and electric vehicles while reducing reliance on foreign refining and smelting dominated by China. By developing awaruite resources, North America can strengthen the resilience and security of its critical nickel supply chain.

Corporate Update

The Company is also pleased to announce that it has engaged the services of Independent Trading Group (ITG), Inc. ("ITG") to provide market-making services in accordance with the policies of the TSX Venture Exchange (the "TSXV"). Pursuant to the engagement, ITG will trade common shares of the Company on the TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.

Under the agreement, ITG will receive compensation of C$5,000 per month, plus taxes, payable monthly in advance. The agreement is for an initial term of one month and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days' notice.

There are no performance factors contained in the agreement and ITG will not receive shares or options of the Company as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals held an interest, directly or indirectly, in the securities of the Company. ITG is a member of the Canadian Investment Regulatory Organization (CIRO) and can access all Canadian stock exchanges and alternative trading systems. The capital and securities required for any trade undertaken by ITG as principal will be provided by ITG.

About Independent Trading Group

Independent Trading Group (ITG) Inc. is a Toronto-based IIROC dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

Newfoundland Government JEA Program

First Atlantic would like to thank the government of Newfoundland & Labrador for financial support through the Junior Exploration Assistance (JEA) program for exploration activities at the Atlantic Nickel Project. The Company anticipates providing further updates on its ongoing programs shortly.

Investor Information

The Company's common shares trade on the TSX Venture Exchange under the symbol "FAN", the American OTCQB Exchange under the symbol “FANCF” and on several German exchanges, including Frankfurt and Tradegate, under the symbol "P21".

Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com. Stay connected and learn more by following us on these social media platforms:

https://x.com/FirstAtlanticNi
https://www.facebook.com/firstatlanticnickel
https://www.linkedin.com/company/firstatlanticnickel/

FOR MORE INFORMATION:
First Atlantic Investor Relations
Robert Guzman
Tel: [phone]
[e-mail]

Disclosure

Adrian Smith, P.Geo., is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.

The Company has not independently verified the historic samples reported in this release but has received data from the previous property owners and from the Government of Newfoundland and Labrador’s online database.

About First Atlantic Nickel Corp.

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel deposit strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern)6.

First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.

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>>> Climb Global Solutions Reports Record Third Quarter 2024 Results


GlobeNewswire

October 30, 2024


https://finance.yahoo.com/news/climb-global-solutions-reports-record-200500191.html


Net Income and Adjusted Net Income up more than 2x to $5.5 Million or $1.19 per Share and $7.1 million or $1.55 per share, respectively; Adjusted EBITDA up 96% to $9.9 Million

Net Sales up 52% to $119.3 Million, with Adjusted Gross Billings Up 65% to $465.2 Million


EATONTOWN, N.J., Oct. 30, 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 third quarter ended September 30, 2024.

Third Quarter 2024 Summary vs. Same Year-Ago Quarter

Net sales increased 52% to $119.3 million.

Adjusted gross billings (a non-GAAP financial measure defined below) increased 65% to $465.2 million.

Net income increased more than 2x to $5.5 million or $1.19 per diluted share.

Adjusted net income (a non-GAAP financial measure defined below) also increased more than 2x to $7.1 million or $1.55 per diluted share.

Adjusted EBITDA (a non-GAAP financial measure defined below) increased 96% to $9.9 million.

Management Commentary

“Q3 was another period of exceptional growth for Climb as we generated record levels across all key financial metrics, while delivering on our acquisition objectives,” said CEO Dale Foster. “Our strong performance was driven by the execution of our core initiatives and the integration of DSS and DataSolutions into our operating platform. We also generated double-digit organic growth in both the U.S. and Europe as we deepened relationships with existing customers while signing new, innovative vendors to our line card.

“Looking ahead, we will continue to leverage our global infrastructure to foster organic growth while actively evaluating M&A targets that complement our geographic footprint, expand our service and solution offerings and, most importantly, align with our high-performance culture. We expect to unlock additional synergies from our acquisitions and further improve operating leverage as we execute across our global platform. We believe that these initiatives, coupled with our proven track record of accretive M&A, will enable us to close out 2024 on a strong note and achieve another year of record results.”

Dividend

Subsequent to quarter end, on October 28, 2024, Climb’s Board of Directors declared a quarterly dividend of $0.17 per share of its common stock payable on November 15, 2024, to shareholders of record on November 11, 2024.

Third Quarter 2024 Financial Results

Net sales in the third quarter of 2024 increased 52% to $119.3 million compared to $78.5 million for the same period in 2023. This reflects organic growth from new and existing vendors, as well as contributions from the Company’s acquisitions of Douglas Stewart Software & Services, LLC (“DSS”) on July 31, 2024 and DataSolutions Holdings Limited (“DataSolutions”) on October 6, 2023. In addition, adjusted gross billings (“AGB”) in the third quarter of 2024 increased 65% to $465.2 million compared to $281.9 million in the year-ago period.

Gross profit in the third quarter of 2024 increased 70% to $24.3 million compared to $14.3 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 contributions from DSS and DataSolutions.

Selling, general, and administrative (“SG&A”) expenses in the third quarter of 2024 were $13.9 million compared to $10.1 million in the year-ago period. SG&A from DSS and DataSolutions drove the majority of the increase as well as variable sales compensation attributed to the growth in AGB. SG&A as a percentage of adjusted gross billings decreased to 3.0% for the third quarter of 2024 compared to 3.6% in the year-ago period.

Net income in the third quarter of 2024 increased more than 2x to $5.5 million or $1.19 per diluted share, compared to $2.4 million or $0.52 per diluted share for the same period in 2023. Net income was impacted by a $1.2 million charge related to a change in fair value of acquisition contingent consideration associated with DataSolutions. Adjusted net income also increased more than 2x to $7.1 million or $1.55 per diluted share, compared to $2.6 million or $0.56 per diluted share for the year-ago period. The Company’s earnings per diluted share in the third quarter of 2024 was negatively impacted by $0.05 in FX compared to the year-ago period.

Adjusted EBITDA in the third quarter of 2024 increased 96% to $9.9 million compared to $5.1 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 acquisitions of DSS and DataSolutions. Effective margin, which is defined as adjusted EBITDA as a percentage of gross profit, increased 500 basis points to 41% compared to 36% for the same period in 2023.

On September 30, 2024, cash and cash equivalents were $22.1 million compared to $36.3 million on December 31, 2023, while working capital decreased by $12.3 million during this period. The decrease in cash was primarily attributed to the cash paid at closing for the acquisition of DSS, $20.9 million, as well as the timing of receivable collections and payables. Climb had $0.9 million of outstanding debt on September 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.

Conference Call

The Company will conduct a conference call tomorrow, October 31, 2024, at 8:30 a.m. Eastern time to discuss its results for the third quarter ended September 30, 2024.

Climb management will host the conference call, followed by a question-and-answer period.

Date: Thursday, October 31, 2024
Time: 8:30 a.m. Eastern time
Toll-free dial-in number: [phone]
International dial-in number: [phone]
Conference ID: CLIMB
Webcast: Climb’s Q3 2024 Conference Call

If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at [phone].

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.

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>>> Hyliion Signs Letter of Intent with ANA to Deploy KARNO Generators in the Mobile Power Generation Market


Business Wire

October 9, 2024


https://finance.yahoo.com/news/hyliion-signs-letter-intent-ana-123000715.html


AUSTIN, Texas, October 09, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a leader in sustainable electricity-producing technology, today announced the signing of a non-binding Letter of Intent (LOI) with ANA Inc., a leading provider of innovative and reliable solutions in the mobile industrial equipment industry. ANA plans to procure up to six KARNO™ generators and launch a pilot trial with their customers in the mobile power generation application. The initial deployment will feature one 200kW unit in 2025, with plans to expand to five additional 200kW units across multiple sites following successful validation.

ANA Inc. is one of the top providers of rental equipment with a focus on high-performance generators, compressors, and energy solutions. Recognized as one of the 5000 fastest-growing private companies in the United States, ANA is known for its commitment to innovation and excellence. Mike Niemela, CEO of ANA, stated, "We are excited to pilot Hyliion’s innovative KARNO generator as we continue to provide our customers with reliable and efficient power generation solutions. The KARNO generator’s advanced technology aligns with our mission to deliver cutting-edge, sustainable energy solutions and complements our product portfolio that empowers our customers to achieve greater efficiency in their operations."

The KARNO generator is a groundbreaking linear power generator system powered by heat and advanced through 3D metal printing. With a hermetically sealed design that includes only one moving part per shaft, the generator is engineered for long, low maintenance operation. Its high efficiency, minimal maintenance needs, and quiet operation make it particularly well-suited for mobile applications, with the flexibility to operate on over 20 different fuels, including natural gas.

"Partnering with ANA as our key strategic customer in the mobile rental industry to deploy the KARNO generators in a hybrid configuration marks a significant milestone in bringing our innovative technology to the market. ANA’s expertise in the mobile power market, combined with their commitment to efficiency and sustainability, makes them an ideal partner as we integrate our KARNO generators into their product lineup to address application-specific needs," said Thomas Healy, Founder and CEO of Hyliion.

The partnership between Hyliion and ANA is subject to the execution of a binding agreement, covering volume thresholds, primary responsibilities, and potential commitment to partner with each other exclusively on hybrid power generation solutions for rental market. For more information about Hyliion and its innovative electrification solutions, please visit www.hyliion.com.

About ANA, Inc.

ANA Inc. is a leading provider of innovative and reliable solutions in the equipment industry, specializing in high-performance generators, compressors, and energy solutions. Driven by a mission to "Make Your World Easier," ANA Inc. combines cutting-edge technology with exceptional service to empower customers across various industries. Known for its exceptional products and commitment to excellence, ANA Inc. continues to push the boundaries of innovation while maintaining a strong focus on customer satisfaction and sustainability. For more information, visit www.anacorp.com.

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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>>> Climb Global (CLMB) Surged on Strong Results


Insider Monkey

by Soumya Eswaran

October 10, 2024


https://finance.yahoo.com/news/climb-global-clmb-surged-strong-115153943.html


Headwaters Capital Management, an investment management company, released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned 9.0% (+8.8% net) in the third quarter compared to a 9.2% return for the Russell Mid Cap Index. Interest rate reductions have generally driven small cap outperformance. Small caps benefited in Q3 after the Fed started the anticipated easing cycle with a 50-basis point rate drop in September. In addition, you can check the fund's top 5 holdings to determine its best picks for 2024.

Headwaters Capital Management highlighted stocks like Climb Global Solutions, Inc. (NASDAQ:CLMB) in the third quarter 2024 investor letter. Headquartered in Eatontown, New Jersey, Climb Global Solutions, Inc. (NASDAQ:CLMB) is a value-added information technology distribution and solutions company. The one-month return of Climb Global Solutions, Inc. (NASDAQ:CLMB) was 19.37%, and its shares gained 130.68% of their value over the last 52 weeks. On October 9, 2024, Climb Global Solutions, Inc. (NASDAQ:CLMB) stock closed at $104.15 per share with a market capitalization of $479.8 million.

Headwaters Capital Management stated the following regarding Climb Global Solutions, Inc. (NASDAQ:CLMB) in its Q3 2024 investor letter:

"Top Contributors: Climb Global Solutions, Inc. (NASDAQ:CLMB) +59%: CLMB was the second largest contributor to performance due to Q2 results where the company posted strong growth underpinned by ongoing demand for the distributor’s cybersecurity software products. CLMB also announced an accretive acquisition during the quarter, which drove positive earnings revisions. In addition to the strong operating performance, CLMB benefitted from multiple expansion when its closest competitor, Extreme Networks, was acquired by private equity at a multiple significantly above where CLMB was trading. The potential for capital deployment and multiple expansion was discussed in detail as part of the original thesis."

Climb Global Solutions, Inc. (NASDAQ:CLMB) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 6 hedge fund portfolios held Climb Global Solutions, Inc. (NASDAQ:CLMB) at the end of the second quarter which was 5 in the previous quarter. Climb Global Solutions, Inc.’s (NASDAQ:CLMB) second quarter net sales increased 13% year-over-year to $92.1 million. While we acknowledge the potential of Climb Global Solutions, Inc. (NASDAQ:CLMB) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed Climb Global Solutions, Inc. (NASDAQ:CLMB) and shared Cove Street Capital's views on the company. Headwaters Capital Management shared its investment thesis for Climb Global Solutions, Inc. (NASDAQ:CLMB) in its Q1 2024 investor letter. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.

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>>> Acurx Announces Additional Ibezapolstat Ph2b Results in CDI as well as Anthrax (B. anthracis) Susceptibility to ACX-375 Analogues


PR Newswire

September 26, 2024


https://finance.yahoo.com/news/acurx-announces-additional-ibezapolstat-ph2b-110000237.html


New analyses extend data on beneficial effects of ibezapolstat on the gut microbiome

Confirmed ibezapolstat's favorable pharmacokinetics showing low systemic exposure and high colonic concentrations

Selected ACX-375 analogues demonstrated in vitro activity against Anthrax (B. anthracis), a Bioterrorism Category A pathogen, including activity against ciprofloxacin resistant Anthrax. Planning is underway for an Anthrax bioterrorism development program

Preparation continues to advance ibezapolstat into international Phase 3 clinical trials for treatment of C. difficile Infection (CDI)

Preparing to submit requests for regulatory guidance to initiate clinical trials in the European Union, the United Kingdom, Japan and Canada

Ibezapolstat has previously received FDA QIDP and Fast-Track Designation from FDA


STATEN ISLAND, N.Y., Sept. 26, 2024 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) ("Acurx" or the "Company"), a late-stage biopharmaceutical company developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections, today announced results from new analyses that extend data on the beneficial effects of ibezapolstat on the gut microbiome. The data show an increased proportion of Actinobacteriota and increased quantity of beneficial Bacillota (Firmicutes) leading to reversal of dysbiosis and contributing to the CDI anti-recurrence effect of ibezapolstat.

Additionally, ibezapolstat's favorable pharmacokinetics properties were confirmed showing mean systemic exposure below 1mcg/mL and fecal concentrations well in excess of the minimal inhibitory concentration (MIC) for C. difficile.

Microbiological testing of certain ACX-375 DNA pol IIIC analogues in independent qualified laboratories, including the University of Florida, demonstrated in vitro activity with MICs of 0.5-2mcg/mL against B. anthracis (Anthrax), a Bioterrorism Category A pathogen, including activity against ciprofloxacin resistant B. anthracis.

The above results were presented at the premier International C. difficile Symposium (ICDS) held in Bled, Slovenia on September 17-19, 2024. Kevin Garey, PharmD, MS, FIDSA, Professor and Chair, University of Houston College of Pharmacy, Principal Investigator for microbiology and microbiome aspects of the ibezapolstat clinical trial program, and Acurx Scientific Advisory Board member delivered a presentation entitled: Ibezapolstat Preserves Key Clostridium leptum Species. Microbiome Results from the Phase 2, Randomized, Double-blind Study of ibezapolstat Compared with Vancomycin for the Treatment of Clostridioides Difficile Infection.

According to Dr. Garey: "The microbiome data also show an unexpected finding of a unique microbiome signature in two vancomycin-treated patients in the Ph2b trial who experienced recurrence of CDI. Since these changes were evident and observed early during treatment and then consistently until the end of therapy, they may be predictive of pending CDI recurrence and suggest the need to modify therapy."

Robert J. DeLuccia, Executive Chairman of Acurx, stated: "These new data add to and reinforce ibezapolstat's emerging overall distinctive product profile, particularly the favorable microbiome-related unexpected findings." He added: "Furthermore, the initial in vitro activity shown against the Bioterrorism Category A pathogen B. anthracis (Anthrax) with some of our earlier-stage compounds included a ciprofloxacin-resistant strain. Selective microbiome effects will be tested with these new compounds as they proceed through development to treat infections caused by methicillin-resistant Staphylococcus aureus (MRSA) and other critical gram-positive pathogens in parallel with planning for the Anthrax bioterrorism program. The presentation is available on the Acurx Pharmaceuticals website www.acurxpharma.com

Acurx has previously announced that it had a successful FDA End-of-Phase 2 Meeting and Phase 3 Readiness for ibezapolstat for the Treatment of C. difficile Infection. Agreement with FDA was reached on key elements to move forward with its international Phase 3 clinical trial program. Agreement was also reached with FDA on the complete non-clinical and clinical development plan for filing of a New Drug Application (NDA) for marketing approval. Planning continues to advance ibezapolstat into international Phase 3 clinical trials for treatment of C. difficile Infection (CDI). Acurx is also preparing to submit requests for regulatory guidance to initiate clinical trials in the European Union, the United Kingdom, Japan and Canada.

Key elements for the two Phase 3, non-inferiority, pivotal trials were confirmed and included agreement on the protocol design, patient population, primary and secondary endpoints, and size of the registration safety database. Based on FDA recommendations, and in anticipation of an EMA Scientific Advice Meeting, the primary efficacy analysis will be performed using a Modified Intent-To-Treat (mITT) population consistent with EMA requirements. This will result in an estimated 450 subjects in the mITT population, randomized in a 1:1 ratio to either ibezapolstat or standard-of-care vancomycin, enrolled into the initial Phase 3 trial. The trial design not only allows determination of ibezapolstat's ability to achieve Clinical Cure of CDI as measured 2 days after 10 days of oral treatment, but also includes assessment of ibezapolstat's potential effect on reduction of CDI recurrence in the target population. In the event non-inferiority of ibezapolstat to vancomycin is demonstrated, further analysis will be conducted to test for superiority.

About the C. difficile Symposium (ICDS)

The International C. difficile Symposium (ICDS) is now established as the premier venue for the review of Clostridium difficile research.

The 1st meeting was held in Kranjska Gora in 2004, the 2nd in Maribor in 2007, while all earlier meetings were in Bled in 2010, 2012, 2015 and in 2018. ICDS in 2020 was held virtually. The 2024 meeting will provide the ideal opportunity to review progress in epidemiology, diagnostics, clinical trials, basic research and in understanding C. difficile pathogenesis and controlling the devastating disease it causes.

About the Ibezapolstat Phase 2 Clinical Trial

The completed multicenter, open-label single-arm segment (Phase 2a) study was followed by a double-blind, randomized, active-controlled, non-inferiority, segment (Phase 2b) at 28 US clinical trial sites which together comprise the Phase 2 clinical trial. (see https://clinicaltrials.gov/ct2/show/NCT04247542). This Phase 2 clinical trial was designed to evaluate the clinical efficacy of ibezapolstat in the treatment of CDI including pharmacokinetics and microbiome changes from baseline. from study centers in the United States. In this cohort, 10 patients with diarrhea caused by C. difficile were treated with ibezapolstat 450 mg orally, twice daily for 10 days. All patients were followed for recurrence for 28± 2 days. Per protocol, after 10 patients of the projected 20 Phase 2a patients completed treatment (100% cured infection at End of Treatment).

In the now completed Phase 2b trial segment, which was discontinued due to success, 32 patients with CDI were enrolled and randomized in a 1:1 ratio to either ibezapolstat 450 mg every 12 hours or vancomycin 125 mg orally every 6 hours, in each case, for 10 days and followed for 28 ± 2 days following the end of treatment for recurrence of CDI. The two treatments were identical in appearance, dosing times, and number of capsules administered to maintain the blind. The Company previously reported that the overall observed Clinical Cure rate in the combined Phase 2 trials in patients with CDI was 96% (25 out of 26 patients), based on 10 out of 10 patients (100%) in Phase 2a in the Modified Intent to Treat Population, plus 15 out of 16 (94%) patients in Phase 2b in the Per Protocol Population, who experienced Clinical Cure during treatment with ibezapolstat. Ibezapolstat was well-tolerated, with three patients each experiencing one mild adverse event assessed by the blinded investigator to be drug-related. All three events were gastrointestinal in nature and resolved without treatment.

There were no drug-related treatment withdrawals or no drug-related serious adverse events, or other safety findings of concern. In the Phase 2b vancomycin control arm, 14 out of 14 patients experienced Clinical Cure. The Company is confident that based on the pooled Phase 2 ibezapolstat Clinical Cure rate of 96% and the historical vancomycin cure rate of approximately 81% (Vancocin® Prescribing Information, January 2021), we will demonstrate non-inferiority of ibezapolstat to vancomycin in Phase 3 trials in accordance with the applicable FDA Guidance for Industry (October 2022).

In the Phase 2 clinical trial, the Company also evaluated pharmacokinetics (PK) and microbiome changes and test for anti-recurrence microbiome properties, including the change from baseline in alpha diversity and bacterial abundance, especially overgrowth of healthy gut microbiota Actinobacteria and Firmicute phylum species during and after therapy. Phase 2a data demonstrated complete eradication of colonic C. difficile by day three of treatment with ibezapolstat as well as the observed overgrowth of healthy gut microbiota, Actinobacteria and Firmicute phyla species, during and after therapy. Very importantly, emerging data show an increased concentration of secondary bile acids during and following ibezapolstat therapy which is known to correlate with colonization resistance against C. difficile. A decrease in primary bile acids and the favorable increase in the ratio of secondary-to-primary bile acids suggest that ibezapolstat may reduce the likelihood of CDI recurrence when compared to vancomycin. The company also recently reported positive extended clinical cure (ECC) data for ibezapolstat (IBZ), its lead antibiotic candidate, from the Company's recently completed Phase 2b clinical trial in patients with CDI. This exploratory endpoint showed that 12 patients who agreed to be followed up to three months following Clinical Cure of their infection, 5 of 5 IBZ patients experienced no recurrence of infection. In the vancomycin control arm of the trial, 7 of 7 patients experienced no recurrence of infection. ECC success is defined as a clinical cure at the TOC visit (i.e., at least 48 hours post EOT) and no recurrence of CDI within the 56 ± 2 days post EOT (ECC56) and 84 ± 2 days post EOT (ECC84) in patients who consented to extended observation. In the Phase 2b trial, 100% (5 of 5) of ibezapolstat-treated patients who agreed to observation for up to three months following Clinical Cure of CDI experienced no recurrence of infection.

About Ibezapolstat

Ibezapolstat is the Company's lead antibiotic candidate planning to advance to international Phase 3 clinical trials to treat patients with C. difficile Infection (CDI). Ibezapolstat is a novel, orally administered antibiotic, being developed as a Gram-Positive Selective Spectrum (GPSS®) antibacterial. It is the first of a new class of DNA polymerase IIIC inhibitors under development by Acurx to treat bacterial infections. Ibezapolstat's unique spectrum of activity, which includes C. difficile but spares other Firmicutes and the important Actinobacteria phyla, appears to contribute to the maintenance of a healthy gut microbiome.

In June 2018, ibezapolstat was designated by the U.S. Food and Drug Administration (FDA) as a Qualified Infectious Disease Product (QIDP) for the treatment of patients with CDI and will be eligible to benefit from the incentives for the development of new antibiotics established under the Generating New Antibiotic Incentives Now (GAIN) Act. In January 2019, FDA granted "Fast Track" designation to ibezapolstat for the treatment of patients with CDI. The CDC has designated C. difficile as an urgent threat highlighting the need for new antibiotics to treat CDI.

About Clostridioides difficile Infection (CDI)

According to the 2017 Update (published February 2018) of the Clinical Practice Guidelines for C. difficile Infection by the Infectious Diseases Society of America (IDSA) and Society or Healthcare Epidemiology of America (SHEA), CDI remains a significant medical problem in hospitals, in long-term care facilities and in the community. C. difficile is one of the most common causes of health care- associated infections in U.S. hospitals (Lessa, et al, 2015, New England Journal of Medicine). Recent estimates suggest C. difficile approaches 500,000 infections annually in the U.S. and is associated with approximately 20,000 deaths annually. (Guh, 2020, New England Journal of Medicine). Based on internal estimates, the recurrence rate for the antibiotics currently used to treat CDI is between 20% and 40% among approximately 150,000 patients treated. We believe the annual incidence of CDI in the U.S. approaches 600,000 infections and a mortality rate of approximately 9.3%.

About the Microbiome in C. difficile Infection (CDI) and Bile Acid Metabolism

C. difficile can be a normal component of the healthy gut microbiome, but when the microbiome is thrown out of balance, the C. difficile can thrive and cause an infection. After colonization with C. difficile, the organism produces and releases the main virulence factors, the two large clostridial toxins A (TcdA) and B (TcdB). (Kachrimanidou, Microorganisms 2020, 8, 200; doi:10.3390/microorganisms8020200.) TcdA and TcdB are exotoxins that bind to human intestinal epithelial cells and are responsible for inflammation, fluid and mucous secretion, as well as damage to the intestinal mucosa.

Bile acids perform many functional roles in the GI tract, with one of the most important being maintenance of a healthy microbiome by inhibiting C. difficile growth. Primary bile acids, which are secreted by the liver into the intestines, promote germination of C. difficile spores and thereby increase the risk of recurrent CDI after successful treatment of an initial episode. On the other hand, secondary bile acids, which are produced by normal gut microbiota through metabolism of primary bile acids, do not induce C. difficile sporulation and therefore protect against recurrent disease. Since ibezapolstat treatment leads to minimal disruption of the gut microbiome, bacterial production of secondary bile acids continues which may contribute to an anti-recurrence effect. Beneficial effects of bile acids include a decrease in primary bile acids and an increase in secondary bile acids in patients with CDI, which was observed in the Company's Ph2a trial results and previously reported (CID, 2022).

About Acurx Pharmaceuticals, Inc.

Acurx Pharmaceuticals is a late-stage biopharmaceutical company focused on developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections. The Company's approach is to develop antibiotic candidates with a Gram-positive selective spectrum (GPSS®) that blocks the active site of the Gram-positive specific bacterial enzyme DNA polymerase IIIC (pol IIIC), inhibiting DNA replication and leading to Gram-positive bacterial cell death. Its R&D pipeline includes antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile, methicillin-resistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE) and drug-resistant Streptococcus pneumoniae (DRSP). To learn more about Acurx Pharmaceuticals and its product pipeline, please visit www.acurxpharma.com

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SenesTech - >>> New York City Council passes bill to use birth control on rats


WPIX New York

by Matthew Euzarraga

September 26, 2024


https://www.yahoo.com/news/york-city-council-passes-bill-221403507.html


NEW YORK (PIX11) — The New York City Council voted Thursday to use birth control on rats.

According to the bill, a local rat contraceptive pilot program will begin in a small section of the city 180 days after the bill is passed.

“For no less than 12 months immediately after the deployment of the rat contraceptive, the department shall perform monthly inspections of each pilot program area and each pilot program comparison area,” read the newly passed bill. “During such monthly inspections of the pilot program areas, the department shall track the amount of rat contraceptive in each rat contraceptive dispenser.”

The pilot program is inspired by New York City’s beloved Flaco the owl, who died earlier this year with rat poison in his system.

New York City Council member Shaun Abreu, the bill’s sponsor, said he has worked with ContraPest, a type of birth control, to find a less harmful way to reduce the New York City rat population. Abreu also noted that other steps, such as having New Yorkers put trash in containers, will make the contraceptive more effective.

ContraPest has been utilized by the city in the past, but it was not practical, according to a veterinarian with over 12 years of experience who spoke to PIX11 News.

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>>> Hyliion’s KARNO Linear Generator Now Qualifies Under California’s Renewables Portfolio Standard (RPS)


Business Wire

September 27, 2024


https://finance.yahoo.com/news/hyliion-karno-linear-generator-now-123000413.html


AUSTIN, Texas, September 27, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a developer of sustainable electricity-producing technology, today announced that its innovative KARNO™ linear generator is now an eligible technology under California’s RPS, following the passage of Assembly Bill 1921 by Governor Newsom. This inclusion allows the KARNO technology to play a pivotal role in delivering low-emission energy solutions, using renewable fuels such as landfill gas, biogas, hydrogen, and others to meet California’s climate goals.

The RPS program requires 60% of retail electricity sales to come from renewable energy sources by the end of 2030, with a target to reach 100% carbon neutrality by 2045. The program incentivizes the adoption of clean technologies to reduce greenhouse gas emissions, driving innovation in renewable energy generation. The KARNO generator’s qualification can contribute to these goals by offering a versatile, fuel-flexible power source, capable of leveraging over 20 fuels including renewable natural gas, hydrogen and ammonia for low to zero-emission energy generation.

"We believe the KARNO technology holds tremendous potential to deliver clean, efficient power generation urgently needed in today’s growing energy markets," said Thomas Healy, Founder and CEO of Hyliion. "California is leading the way in green initiatives, and we are excited to support their energy goals through our cutting-edge technology, helping to create a more sustainable and resilient energy future."

To learn more about the Assembly Bill 1921, visit: https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=202320240AB1921.

To learn more about the Hyliion KARNO generator, visit www.hyliion.com.

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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>>> 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: [phone]
International dial-in number: [phone]
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 [phone].

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:

[phone]

Toll Dial-in Number:

[phone]

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.

________________________________

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 -

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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

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>>> 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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