Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
>>> SenesTech Announces Pricing of $4.1 Million Public Offering of Common Stock
PR Newswire
July 11, 2019
https://finance.yahoo.com/news/senestech-announces-pricing-4-1-014200577.html
FLAGSTAFF, Ariz., July 11, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced the pricing of its previously announced public offering of 3,037,038 shares of its common stock at a price to the public of $1.35 per share. SenesTech expects to receive aggregate gross proceeds of approximately $4.1 million from the offering. The offering is expected to close on or about July 16, 2019, subject to customary closing conditions.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
SenesTech intends to use the net proceeds from the offering for working capital and other general corporate purposes.
The shares of common stock are being offered by SenesTech pursuant to a "shelf" registration statement on Form S-3 (Registration No. 333-225712) previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on August 24, 2018. A preliminary prospectus supplement describing the terms of the offering was filed with the SEC on July 11, 2019, and is available on the SEC's website at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue 3rd Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing placements@hcwco.com or at the SEC's website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.
About SenesTech
SenesTech has developed and is in the process of commercializing a proprietary technology for managing animal pest populations, primarily rat populations, through fertility control. For more information visit the SenesTech website at www.senestech.com.
<<<
>>> Verus International, Inc. (VRUS) engages in the supply of consumer food products in the Middle East, North Africa, sub-Saharan Africa, the United Arab Emirates, the Sultanate of Oman, Bahrain, Qatar, the Kingdom of Saudi Arabia, and Kuwait. The company provides frozen foods, meat, poultry, seafood, vegetables, and French fries, as well as beverage products under its own brand primarily to supermarkets, hotels, and other members of the wholesale trade; and other consumer packaged foodstuff. It also offers consumer packaged goods, such as cosmetic and fragrances; and cold-storage facilities. The company was formerly known as RealBiz Media Group, Inc. and changed its name to Verus International, Inc. in October 2018. Verus International, Inc. was founded in 2007 and is based in Gaithersburg, Maryland. <<<
>>> VERUS INTERNATIONAL, INC. (VRUS) REPORTS 153% INCREASE IN QUARTERLY REVENUE; FORECASTS RECORD GROWTH FOR FISCAL 2019
GlobeNewswire
June 17, 2019
https://finance.yahoo.com/news/verus-international-inc-reports-153-120034345.html
Gaithersburg, MD, June 17, 2019 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) today announced financial results for its fiscal 2019 second quarter ended April 30, 2019. In conjunction with this release, the Company is also providing additional details on its strategy for the remainder of fiscal 2019.
For Q2 2019, management is noting the following items of importance:
Revenue set an all-time record of $2.9 million in Q2/19, an increase of 153% over the $1.2M reported in Q2/18.
The company’s gross margin was approximately 15.4%, within the higher historical range for the current product mix; up 348 basis points compared to Q2/18.
Operating expenses as a percentage of revenue improved significantly to 23.7% of revenue in Q2/19 compared to 38.3% in Q2/18. Excluding non-cash, stock-based compensation expenses, Q2/19 operating expenses as a percentage of revenue were 13.8%.
Net income reflected a profit of $2.2 million, primarily driven by the reversal of certain charges booked in the prior quarter related to the settlement of certain convertible notes payable and a gain realized on the extinguishment of certain other convertible notes payable during the quarter, both of which are beneficial to the Company’s current capitalization strategy.
The Q2/19 operating loss reflected non-cash, stock-based compensation expenses of $290,573. On a pro-forma basis, the Company generated an operating profit of approximately $47,000, compared to an operating loss of $307,289 in Q2/18.
“The Q2/19 results provide more evidence that our growth cycle had already begun, even before our recent growth initiatives,” explained Verus CEO Anshu Bhatnagar. “We acquired Big League Foods in the last week of Q2/19 and our latest capital infusions were signed after the quarter end. Q2/19 should be viewed as a strong launch pad for even better growth in the second half of 2019. If you back out the non-cash stock-based compensation charges, we would have posted an operating profit in the quarter. So, we are right where we want to be as we begin our true growth phase.”
On a forward basis, the Company would like to provide the following update and guidance:
Verus has its largest funded backlog in Company history, currently in excess of $30 million for delivery in the 12 months following commencement of initial shipping schedules.
Estimated unfunded backlog continues to exceed the funded backlog, leaving room for significant future organic growth.
The Company will begin shipping its first products from its Big League Foods subsidiary in the second week of July 2019.
Verus is working with a commercial bank to establish a working capital line of credit.
Management is actively engaged in finalizing additional M&A transactions that are both strategic and beneficial to the company and shareholders.
Verus continues to aim for an uplisting to a major exchange, when that process best benefits the Company.
“This was a solid quarter, but I want to give everyone a sense of what is coming,” said CEO Bhatnagar. “In terms of guidance for the remainder of fiscal 2019, we expect our growth rate to accelerate in the next two quarters as our new funding is put to work, and our MLB-branded business and new international lines begin to ramp. Our ultimate growth rate will depend upon the timing of additional working capital, but we have great revenue visibility well into Fiscal 2020. We expect to maintain triple digit growth through the balance of Fiscal 2019 and beyond. Today’s results are a precursor to that growth.”
Big League Foods Ice Cream Update
Verus is pleased to announce four ice cream flavors for its initial shipments of pint containers to retailers. The first flavors will be: Bases Loaded - premium vanilla ice cream with thick swirls of caramel and quality chocolate pieces; Double Play - premium vanilla ice cream with chocolate chip cookie dough and brownie pieces; Grand Slam Sundae - premium chocolate ice cream with mini marshmallows, caramel swirl, fudge brownie pieces and almonds; and Vanilla “Beaned” - premium vanilla ice cream with specks of vanilla bean. These flavors will initially be branded under the Chicago Cubs, Boston Red Sox, New York Yankees and Philadelphia Phillies logos in their respective markets.
Financial Results and Corporate Update Conference Call
In conjunction with today’s financial results, Verus management will host a conference call and live webcast for analysts and investors on June 18, 2019 at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss the Company's financial results and business plan going forward.
To listen to the live conference call, parties in the United States should dial +1 929-477-0448 access code 9819396. International parties should dial 888-254-3590, access code 9819396. Please dial in approximately 15 minutes prior to the start of the call.
A live and archived webcast of the conference call will be accessible on the "Investor Relations" section of the Company's website at www.verusfoods.com. To access the live webcast, please log in 15 minutes prior to the start of the call to download and install any necessary audio software.
Interested investors are also reminded to watch for product updates on the official Twitter feed @Verus_Foods.
About Verus International, Inc.
Verus International operates an international food subsidiary (Verus Foods) that sells branded consumer products to customers worldwide. The Company trades on the OTC market (VRUS). Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com. Additional information is also available at the Company website: www.verusfoods.com.
<<<
>>> SenesTech Announces Financial Results and Appointment of Ken Siegel as Chief Executive Officer
May 15, 2019
https://senestech.investorroom.com/2019-05-15-SenesTech-Announces-Financial-Results-and-Appointment-of-Ken-Siegel-as-Chief-Executive-Officer
Hospitality-veteran and former Executive Officer of Starwood Hotels & Resorts Ken Siegel Named Chief Executive Officer
Dr. Loretta Mayer to Remain Chair and Chief Scientific Officer
FLAGSTAFF, Ariz., May 15, 2019 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced financial and operational results for the first quarter of fiscal 2019, which ended March 31, 2019.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
The Company also announced the appointment of Ken Siegel as SenesTech's new Chief Executive Officer, succeeding the Company's Co-Founder, Dr. Loretta Mayer, who will remain Chair and Chief Scientific Officer. Today's leadership announcement is part of SenesTech's ongoing strategic plan to position the Company for growth and drive the commercialization of ContraPest, its flagship product. The new approach, launched earlier this year has begun to gain traction with key municipalities and the food/agricultural markets.
Mr. Siegel is a seasoned senior executive with over 25 years of leadership experience at major public and private corporations. He most recently served as President of Diamond Resorts International, a leading independent branded vacation ownership company. Prior to Diamond, he served as Chief Administrative Officer of Starwood Hotels & Resorts, a global hospitality company, until its acquisition by Marriott International in 2016. Siegel's background includes operations, finance, legal, branding and reputation management, sustainability and social responsibility, lobbying and regulatory affairs. He also has extensive experience working with and in technology businesses and is an expert in the development and protection of intellectual property assets.
Ken brings tremendous passion to SenesTech's highly effective, eco-friendly solutions to pest control. He is a recognized leader in corporate sustainability and social responsibility having developed Starwood's innovative strategies to mitigate potential social and economic harms of its business through initiatives that improved overall economic performance. He is a key proponent of strategies to "do well by doing good."
"I believe that SenesTech has developed the right product and technologies for our times," Siegel said. "ContraPest is a highly effective, proven, and eco-friendly solution to an age-old problem. With growing environmental and effectiveness concerns around existing solutions, SenesTech stands alone in offering a product that addresses a critical need for pest control without the inherent environmental risks of existing rodenticides."
Co-Founders Dr. Loretta P. Mayer, Chair of SenesTech and Chief Scientific Officer, and Dr. Cheryl A. Dyer, President and Chief Research Officer, said, "We are excited to have Ken join us in this leadership role. We know that he shares our commitment to SenesTech's mission and a passion for our product, ContraPest. We also know that his extensive executive experience, corporate relationships and his understanding of the customer are ideally suited to rapidly drive adoption of ContraPest. With Ken's overall leadership, we can continue to focus on SenesTech's enduring vision: sound science, effective solutions."
Mr. Siegel continued, "The awareness and wide availability of ContraPest is the most it has ever been. The activity over the last few months, including deployments in large municipalities, such as Washington DC, St. Louis, Southern California, San Francisco and elsewhere confirms that the need for a novel solution to this persistent problem is evident. Continued successful deployments will enhance the market penetration of ContraPest and our unique technology. Targeting our strategic and tactical marketing efforts directly to the commercial end-user market segments is key to our future success. I am confident that we can drive substantial growth in 2019 and beyond."
Recent Developments:
Since the beginning of the year, SenesTech announced a number of recent developments involving ContraPest, including:
A comprehensive roll-out of ContraPest in Washington DC commencing in spring 2019. ContraPest has been deployed in the first ward with sequential deployments now planned throughout all eight wards.
Deployed ContraPest in a major transit agency in Southern California.
Expanded into additional animal sanctuaries following the successful deployment at an initial facility in upstate New York.
Completed initial deployments in hosted poultry farms and will begin first commercial application in egg production facilities in California's central valley.
Expected expansion of use of ContraPest by St. Louis Gateway Arch Park Foundation.
Added ContraPest to Pestec's IPM program for use in popular locations within the San Francisco Bay Area.
Introduced products into the animal care market with ContraPest provided directly or indirectly to 11 zoos and a wide variety of animal sanctuaries.
Removal of the "Restricted Use Only" category from the ContraPest label was approved by the U.S. Environmental Protection Agency (EPA) in October 2018. As of this date, the Company has received follow-on state acceptance for the new label and removal of restricted use status in 35 states, including Florida and Washington.
Launched a new scientific speaker series, showcasing the scientists and researchers who have made substantial contributions in rodent/animal behavior, rodent management, fertility control and other related fields.
Progression of AB 1788 continues through the California legislature. If passed, AB 1788 would greatly restrict or eliminate the use of second generation anticoagulant rodenticides (SGARs). This, in turn, could accelerate the adoption of ContraPest in California.
Financial Results
Revenues from product sales during Q1 2019 ended March 31, 2019 were $19,000, compared to $19,000 of revenue from product sales during Q1 2018. Net loss for the quarter was $2.4 million, compared with a net loss of $2.7 million during the first quarter of 2018. Adjusted EBITDA, which is a non-GAAP measure of operating performance, was $(2.0) million during Q1 2019, compared to $(1.8) million during Q1 2018.
Tom Chesterman, Chief Financial Officer of SenesTech, commented, "Results during the first quarter reflect temporary disruptions as we implemented our end user sales and marketing strategy, delays in deployments due to anticipated seasonal reduction in rodent activity during the quarter and the transition to the removal of ContraPest's 'restricted use only' status at the state level. We continued to drive improvements in our operating expenses and limit our cash utilization. We ended the quarter with cash, cash equivalents and investments of approximately $2.9 million and have received accelerating warrant exercises subsequent to the end of the quarter."
Use of Non-GAAP Measure
Adjusted EBITDA is a non-GAAP measure. However, this measure is not intended to be a substitute for those financial measures reported in accordance with GAAP. Adjusted EBITDA has been included because management believes that, when considered together with the GAAP figures, it provides meaningful information related to our operating performance and liquidity and can enhance an overall understanding of financial results and trends. Adjusted EBITDA may be calculated by us differently than other companies that disclose measures with the same or similar term. See our attached financials for a reconciliation of this non-GAAP measure to the nearest GAAP measure.
Conference Call Details
Date and Time: 5:00 pm ET (2:00 pm PT) on Wednesday, May 15, 2019
Call-in Information: Interested parties can access the conference call by dialing (844) 308-3351 or (412) 317-5407.
Live Webcast Information: Interested parties can access the conference call via a live Internet webcast, which is available in the Investor Relations section of the Company's website at http://senestech.investorroom.com/.
To Ask a Question: The conference call will be moderated by Lytham Partners, an investor relations firm. There will be three options to ask a question during the call:
Questions can be asked live during the call-in portion of the conference call.
The live webcast will feature an option to submit questions in writing during the event.
If you are unable to attend the event, you can submit a question in advance to Senestech@LythamPartners.com.
Replay:
A teleconference replay of the call will be available for three days at (877) 344-7529 or (412) 317-0088, confirmation #10131510. A webcast replay will be available in the Investor Relations section of the Company's website at http://senestech.investorroom.com/ for 90 days.
About SenesTech
SenesTech has developed and is in the process of commercializing a proprietary technology for managing animal pest populations, primarily rat populations, through fertility control. For more information visit the SenesTech website at www.senestech.com.
<<<
SNES - >>> Dr. Drew says LA public health in 'complete breakdown': 'No city on Earth tolerates this'
By Bradford Betz
Fox News
5-31-19
https://www.foxnews.com/health/dr-drew-says-third-world-countries-would-be-insulted-to-be-compared-with-los-angeles
Internist Dr. Drew Pinsky reacts to medieval diseases resurging in major cities.
The public health situation in the nation's second-largest city is in "a complete breakdown," Dr. Drew Pinsky said Thursday night on "The Ingraham Angle."
“We have a complete breakdown of the basic needs of civilization in Los Angeles right now,” Pinsky told host Laura Ingraham. “We have the three prongs of airborne disease, tuberculosis is exploding, (and) rodent-borne. We are one of the only cities in the country that doesn’t have a rodent control program, and sanitation has broken down.”
“We have a complete breakdown of the basic needs of civilization in Los Angeles right now.”
— Dr. Drew Pinsky
Pinsky’s comments followed news that Los Angeles police officer had contracted typhoid fever, a rare and life-threatening illness that fewer than 350 Americans contract each year.
Los Angeles had a typhus outbreak last summer and will likely have another this summer, Pinsky said. Meanwhile, bubonic plague – a pandemic that killed tens of millions of people during the 14th century – is “likely” already present in Los Angeles, Pinsky added.
“This is unbelievable. I can’t believe I live in a city where this is not Third World. This is medieval,” Pinsky said. “Third World countries are insulted if they are accused of being like this. No city on Earth tolerates this. The entire population is at risk.”
“Third World countries are insulted if they are accused of being like this. No city on Earth tolerates this. The entire population is at risk.”
— Dr. Drew Pinsky, referring to a public health crisis in Los Angeles
California can’t handle the current situation, let alone allow tens of thousands of illegal immigrants with no health records to flood its major cities, Pinsky added.
“[T]he government is somehow insisting that housing is the problem when in fact we have chronic mental illness, we have addiction, we have people who don’t want to leave the streets,” Pinsky said. “They literally won’t take the housing if we give it to them. And that’s the population that’s vulnerable, and is going to get so ill this summer. It scares me for their well-being.”
Asked why the liberal politicians aren’t doing more to alleviate these conditions, Pinsky said they are “disgustingly negligent.”
<<<
SNES - A new market for ContraPest - >>> Cat-astrophe! Feral cats amass in Philadelphia and residents aren't 'amewsed'
5-29-19
By Talia Kirkland
Fox News
https://www.foxnews.com/us/philadelphias-stray-cat-population
Philadelphia’s cat crisis hits new peaks with nearly half a million strays
PHILADELPHIA -- Every summer, Julie Crowe's back patio becomes overrun with stray cats. They climb on her barbecue grill, feast on her garden and leave a putrid stench that forces her to keep the windows of her home shut.
No amount of eggshells, chili peppers or bleach keeps the felines out of her trash bins. Just last week, she discovered a litter of six kittens and a momma cat living off of leftovers.
“I got an estimate to try to enclose the patio, and it's $3,000,” said Crowe, “I don’t have it and shouldn’t have to pay it to enjoy my own backyard.”
Philadelphia’s feral cat population has long been an issue. But in recent years, the number of stray cats roaming the streets has exploded, with hundreds of colonies clustered in vacant lots, abandoned buildings or neighborhood yards.
Philadelphia is now home to nearly half a million stray or feral cats. And residents say they have had it.
"An unmanageable situation," said Alley Cagnazzi, coordinator of the city's Animal Care and Control Team, or ACCT, who said her department alone cannot handle the uptick of feral cats.
As cities across the country began a kinder, gentler approach to the feral cat problem -- the felines years ago were immediately euthanized but many places now spay them – some places began seeing a growing litter of stray cats. Shelters in Philadelphia are crammed with feral cats and, because adoption is not an option, the untamed animals mostly roamed free.
"Every single shelter in the city would be overflowing, there is literally not enough space," said Cagnazzi.
But now cities like Philly have turned to neighborhood “volunteers” to serve on the front lines of the war to control the feral cat problem.
Honorary soldier Jean Van Sciver, or neighborhood "cat-mom," responded quickly to the city's call for help. Van Sciver, who unexpectedly died after her interview with Fox News, said she had taken care of a few hundred cats over the last few years.
Every evening after work, she would set out paper plates loaded with wet and dry kibble, and watch from her window as the cats tip-toed into her yard to eat. She pointed out each of “her” cats have a clipped left ear indicating it had been spayed or neutered. Van Sciver had trapped them herself and, once fixed, she treated them as quasi-pets.
"I'm not going to see them starve," she said, “They live here, they are just [my] outside cats.”
Colony caretakers, like Van Sciver, are community volunteers who help trap strays and get them fixed. In Philadelphia, this is a free service provided by ACCT, which will then return the cats to their neighborhoods or colony caretakers in a process known as "trap, neuter, release," or TNR.
Though the program’s impact isn’t crystal clear, some believe it can make a difference.
Benefits of TNR
“There are a lot of misconceptions surrounding TNR and, in order for community volunteers to be successful, education and support are key,” said Karen O'Rourke, president of Stray Cat Relief Fund, or SCRF, a volunteer-run, non-profit providing shelter, and medication to the felines.
According to the Humane Society, for decades feral cats were not much of a municipality concern. Animal control officers would round up strays only after a complaint, a practice that typically ended in euthanasia. The problem with that system, O’Rourke said, is that too many colonies were going uncontrolled, and cats that were taken off the street were swiftly replaced. Females can have litters every 63 days.
Nationally, the TNR program has been adopted by more than a dozen states, including California, where recent wildfires exposed hundreds of strays, and in cities like Chicago, where it is credited with reducing the feral cat population.
The most famous test case for TNR came in Newburyport, Mass., a tourist town where hundreds of stray cats hung out along the waterfront, dining on Dumpster scraps. Volunteers set out humane traps, and eventually managed to get every cat sterilized.
The population steadily dropped, and in 2009, reportedly the last feral waterfront cat died at the age of 16. Cats only live about five years after being spayed.
Cats versus wildlife
However, some have objected to program, saying outdoor cats are a menace to birds and other wildlife. They claim the effort to be more compassionate to wild cats has come at a steep price.
A 2012 study co-authored by Peter Marra, the chief of the Smithsonian’s migratory bird center, found that an estimated 2.4 billion birds and 12.3 billion small mammals in the U.S. are killed annually by free-roaming cats.
AUSTRALIAN OFFICIALS KILLING MILLIONS OF FERAL CATS WITH POISONED SAUSAGES
In Philadephia, the city’s parks department has not taken an official stance. In a recent interview with Philadelphia’s WHYY, city officials said their main objective is not the welfare of feral cats, but to maintain safe and accessible park spaces for city residents.
The city posted an article on its website written by environmental planner Tony Croasdale that said the kitties are not as innocent as they look.
“These outside cats will kill hundreds to thousands of wild prey in their lifetime,” the article said. "While it is understandable that some people have a strong emotional attachment towards outside cats since cats are such a popular pet, many other people feel similarly towards wildlife.”
Making progress
More than 60,000 feral cats were sterilized through the Philadelphia's TNR program in 2017. Though the city is still overrun by cats, some say the practice appears to be working.
"Boots on the ground," said Kelsey Lauder, a volunteer with the Stray Cat Relief Fund. "It's going to take neighbors in their back alleys working together before we see any significant change."
Lauder said her organization is getting the friendly kittens off the street and putting them into homes, and the neutering and spaying efforts are reducing the population.
O’Rourke said sterilizing even a single feral cat can make a huge difference in controlling the overall population, and can even improve a cat's behavior.
“Fixed and vaccinated cats are healthier,” said O’Rourke. “They are also less aggressive so no more fighting, howling and spraying. And ultimately one more fixed cat means one less litter of kittens.”
<<<
SNES - >>> California Bill AB1788 to Ban SGAR Rodenticides Clears Assembly
PR Newswire
May 6, 2019
https://finance.yahoo.com/news/california-bill-ab1788-ban-sgar-231800766.html
FLAGSTAFF, Ariz., May 6, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, announces that California's AB1788, which will ban the use of Second Generation Anticoagulant Rodenticides (SGARs), has been passed by the State Assembly.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
"With this, California has moved a step closer to the creation of the California Ecosystems Protection Act of 2019 which will prohibit the use of the four major Second Generation Anticoagulant Rodenticides (SGARs) commonly used in rodent pest control. As the State of California moves toward a new paradigm in pest management it is becoming clear that the concept of balance between humans and animals is being demanded with a loud voice. We applaud the bold step in asking industry to come forward with a solution. We are working with industry professionals and end-users to add ContraPest, our fertility control flagship product, to their rodent management solution strategies," said Dr. Loretta Mayer, CEO of SenesTech. "There is a way to serve all with a new approach as US scientists have an answer."
The next steps for this bill is to go to the California Senate for approval and ultimately to Governor Newsom for signature. As this process moves forward SenesTech continues to prepare to serve the wildlife, citizens and environment of California.
About SenesTech
SenesTech is changing the paradigm of pest management by targeting the root cause of the problem: reproduction.
ContraPest® is an innovative technology with an approach that targets the reproductive capabilities of both sexes in rat populations, inducing egg loss in female rats and impairing sperm development in males. Using a proprietary bait delivery method, ContraPest® is dispensed in a highly palatable liquid formulation that promotes sustained consumption by rat communities. ContraPest® is designed, formulated and dispensed to be low hazard for handlers and non-target species such as wildlife, livestock and pets, where the active ingredients break down rapidly.
We believe ContraPest® will establish a new paradigm in rodent control, resulting in a decreased reliance on lethal options. For more information visit the SenesTech website at www.senestech.com.
<<<
>>> EnWave Provides Additional Information Regarding Strategic Equity Investment by Aurora Cannabis Inc.
https://www.marketwatch.com/press-release/enwave-provides-additional-information-regarding-strategic-equity-investment-by-aurora-cannabis-inc-2019-04-26?siteid=bigcharts&dist=bigcharts
Apr 26, 2019
VANCOUVER, British Columbia, Apr 26, 2019 (GLOBE NEWSWIRE via COMTEX) -- EnWave Corporation ("EnWave" or the "Company"), a global leader in vacuum microwave dehydration technology, is pleased to provide further information relating to the $10 million strategic equity investment by Aurora Cannabis Inc. ("Aurora") in the Company announced earlier today.
Pursuant to the terms of a share purchase agreement between the parties dated April 25, 2019, Aurora has purchased 5,302,227 common shares in the capital of EnWave (the "EnWave Shares") at a deemed price of $1.886 per share, based on the volume weighted average trading price ("VWAP") for EnWave's shares on the TSX Venture Exchange (the "TSXV") for the five (5) consecutive trading days to and including April 22, 2019. As consideration for the EnWave Shares, Aurora issued to EnWave 840,576 common shares in the capital of Aurora (the "Aurora Shares") at a deemed price of $11.8966 per share, based on the VWAP for Aurora's shares on the Toronto Stock Exchange for the five (5) consecutive trading days to and including April 22, 2019.
Each of the EnWave Shares and the Aurora Shares will be subject to a hold period of four months and one day from the date of issuance pursuant to applicable securities laws. The TSXV has provided conditional approval for the transaction.
EnWave intends to dispose of or otherwise transact in the Aurora Shares for the purpose of realizing the cash value of the strategic equity investment as soon as possible, and may enter into any number of arrangements, including but not limited to sale or lending transactions, in furtherance thereof.
About EnWave
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum ("REV(TM)") - an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV(TM) technology, shortening the time from harvest to marketable cannabis products.
REV(TM) technology's commercial viability has been demonstrated and is growing rapidly across several market verticals in the food and pharmaceutical sectors including legal cannabis. EnWave's strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV(TM) technology. The company has signed over twenty royalty-bearing licenses to date, opening up nine distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Corporation, NutraDried Food Company, LLC, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese brand.
EnWave has introduced REV(TM) as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV(TM) platforms:
1. nutraREV which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour;
2. powderREV which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point; and
3. quantaREV which is used for continuous, high-volume low-temperature drying.
An additional platform, freezeREV, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
<<<
>>> EnWave Corporation (MWVCF) licenses, builds, and installs commercial-scale dehydration platforms for applications in the food, pharmaceutical, and industrial sectors to manufacturing companies in Canada. The company offers radiant energy vacuum (REV) dehydration platforms for food industry, such as nutraREV and quantaREV to dehydrate fruits and vegetables, cheese products, yogurt products, meat products, and snacks. It also provides REV platforms for pharmaceutical industry, including powderREV for the bulk dehydration of temperature-sensitive biomaterials, such as probiotics and enzymes; and freezeREV for the dehydration of biomaterial and pharmaceutical products. The company has a research and development license agreement with the College of Agriculture and Life Sciences at Cornell University. EnWave Corporation is headquartered in Delta, Canada. <<<
SNES is moving higher, now at 1.65 after hitting 1.75 earlier today. Near term target is 2.00-2.20, which was the June 2018 high.
LWLG is currently sitting at the 200 MA (.94) after falling thru it briefly this morning. Will see if the 200 MA holds, otherwise next support is .90 and then the band from .85-.90.
VTGN - will see if it can stay above the 1.00 level. They have key clinical data coming over the next 4 months or so in 2 trials. Objectively the odds aren't very good, but if by some chance the data is good, this is a major moonshot. Personally I wouldn't make that bet, but it will be interesting to watch, and I hope they succeed.
MBRX is trying to stabilize at the 200 MA (1.39) after the big recent spike.
AXSM - will watch the nice uptrend. I'm figuring it continues to gradually levitate heading into the numerous clinical trial readouts that are coming this year.
SenesTech - >>> ContraPest® is THE Answer to the Recommendation by the California Department of Fish and Wildlife Alert as AB 1788 Clears Critical Hurdle
PR Newswire
April 15, 2019
https://finance.yahoo.com/news/contrapest-answer-recommendation-california-department-130000342.html
FLAGSTAFF, Ariz., April 15, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, provides a long term solution within the state of California specifically in response to the recommendation by California Department of Fish and Wildlife: i.e. "CDFW Issues Reminder to Avoid Harmful Poisons."
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
On April 11, 2019, the CDFW published in the California Fish and Wildlife News (https://cdfgnews.wordpress.com/2019/04/11/plentiful-precipitation-pumps-up-rodent-populations/) that with the increased precipitation experienced in California rodent populations are increasing, and in addition to the increased rodent population growth, "…CDFW reminds people that rodenticides can also kill non-target wildlife, and even pets and children." This alert comes only days after AB1788 (the Bill that would create the California Ecosystems Protection Act of 2019 and, in short, prohibit the use of the four major Second Generation Anticoagulant Rodenticides (SGARs) commonly used in rodent pest control) passed the Assembly Water, Parks and Wildlife committee with a vote of 8 Ayes, 5 Noes. The Bill is currently before the Appropriations Committee.
"California's economy of $2.7 trillion is a prime factor in our decision to concentrate our resources and effort here on behalf of our flagship product - ContraPest®. Realizing that California, by itself, is the fifth largest economy in the World validates our commercial decision to focus our efforts here in an attempt to accelerate the proliferation of ContraPest sales in California," said Edward Albe, Senior Vice President of Commercialization. "We are anxious, on behalf of California's concerned populace, to answer their desire for new, and better, wildlife management tools. In alignment with California's integrated pest management professionals, we are concerned with balancing rodent control with the protection of non-target wildlife species, and provide an effective non-lethal tool for rodent management. ContraPest is indeed a compelling value-add for all stakeholders who share our vision!"
"SenesTech developed ContraPest as a liquid because rats require 10% of their body weight daily in water for survival," said Dr. Loretta Mayer, CEO and co-founder of SenesTech. Dr. Mayer further states that "unlike mice who get adequate hydration from the food they eat, the changing climate means that increasing precipitation in many regions will provide an endless fountain of water for the rats, and dense vegetation undergrowth for habitat. This is the perfect storm in creating ideal conditions for rats to breed. Let's get out ahead of the root cause of the problem that's on it's way…we must blunt reproduction with fertility control."
About SenesTech
SenesTech is changing the paradigm of pest management by targeting the root cause of the problem: reproduction.
ContraPest® is an innovative technology with an approach that targets the reproductive capabilities of both sexes in rat populations, inducing egg loss in female rats and impairing sperm development in males. Using a proprietary bait delivery method, ContraPest® is dispensed in a highly palatable liquid formulation that promotes sustained consumption by rat communities. ContraPest® is designed, formulated and dispensed to be low hazard for handlers and non-target species such as wildlife, livestock and pets, where the active ingredients break down rapidly.
We believe ContraPest® will establish a new paradigm in rodent control, resulting in a decreased reliance on lethal options. For more information visit the SenesTech website at www.senestech.com.
<<<
Astro Aerospace Ltd. (ASDN) and its subsidiaries develop selfpiloted and autonomous, manned and unmanned, electric vertical take off and landing aerial vehicles. The company intends to provide the market with aerial transportation for humans and cargo. The company was formerly known as CPSM, Inc. and changed its name to Astro Aerospace Ltd. in March 2018. Astro Aerospace Ltd. is headquartered in Lewisville, Texas.
>>> SenesTech Announces Commercial Acceleration With New Senior Vice President, Edward Albe
PR Newswire
April 3, 2019
https://finance.yahoo.com/news/senestech-announces-commercial-acceleration-senior-130000227.html
FLAGSTAFF, Ariz., April 3, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, is excited to announce that Ed Albe has joined SenesTech as Senior Vice President of Commercialization.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
"In our earnings call last Thursday, we discussed our commercial accomplishments cast in the structure of our new commercial verticals of Structural/Cities, Food Production, Storage, and Animal Facilities. We introduced this strategy as a prelude to our addition of Ed Albe to our team," commented Dr. Loretta Mayer, CEO and co-founder of SenesTech. "Ed officially joined our team last January. In the past 90 days we have worked together to provide Ed with insight into our company with an emersion strategy of detailed company history and performance, criss-crossing the US from New York to California meeting our major customers and hearing their 'voice,' culminating with a Board-approved commercialization strategy for 2019 and beyond. It is with confidence and excitement that we hand the reins of commercialization (Marketing, Sales, Manufacturing and Distribution) to Ed for a bountiful future."
Ed is a high technology industry veteran with an impressive track record of bringing innovative, often esoteric, products to market. He has provided the commercialization and go-to-market strategy for startups, as well as nascent companies introducing novel products to the pharmaceutical, biotechnology, specialty chemical, and photonics marketplaces. He is especially adept at turning around underperforming marketing and sales assets to accelerate the time to profitable revenue. Ed received his MBA from Denver's Regis University and is generally regarded within high technology as a lean startup expert.
"I'm delighted that Dr. Mayer and Dr. Dyer, the co-founders of SenesTech, asked me to join their team! SenesTech, and it's flagship product ContraPest®, are poised to dramatically enhance next generation integrated pest management (IPM) protocols. I am especially pleased to join a company that has created a fertility control product for rats which does not have the deleterious impact on our ecology as rodenticides. SenesTech's innovative culture and raison d'être had me instantly," commented Ed Albe.
Drs. Cheryl Dyer and Loretta Mayer, co-founders, responded, "Welcome aboard, Ed."
About SenesTech
SenesTech is changing the paradigm of pest management by targeting the root cause of the problem: reproduction.
ContraPest® is an innovative technology with an approach that targets the reproductive capabilities of both sexes in rat populations, inducing egg loss in female rats and impairing sperm development in males. Using a proprietary bait delivery method, ContraPest® is dispensed in a highly palatable liquid formulation that promotes sustained consumption by rat communities. ContraPest® is designed, formulated and dispensed to be low hazard for handlers and non-target species such as wildlife, livestock and pets, where the active ingredients break down rapidly.
We believe ContraPest® will establish a new paradigm in rodent control, resulting in a decreased reliance on lethal options. For more information visit the SenesTech website at www.senestech.com.
<<<
SenesTech - >>> 4-Vinylcyclohexene dioxide (VCD) is an organic compound that contains two epoxide functional groups. It is industrially used as a crosslinking agent for the production of epoxy resins.[5][6] It is a colourless liquid. It is an intermediate for synthesis of organic compounds.[2]
Preparation and properties
4-Vinylcyclohexene dioxide is prepared by epoxidation of 4-vinylcyclohexene with peroxybenzoic acid.[5] Its viscosity is 15 mPa·s.[5]
Safety
4-Vinylcyclohexene dioxide, like other volatile epoxides, is classified as an alkylating agent.[5] VCD has toxic effects on fertility. It is a killer of oocytes in immature ovarian follicles in mice and rats.[7][8][9]
In pest control, it has been used as an ovotoxic agent for reducing rat fertility.[10]
<<<
>>> SenesTech Announces Fiscal 2018 Financial and Operational Results
PR Newswire
March 28, 2019
https://finance.yahoo.com/news/senestech-announces-fiscal-2018-financial-200500734.html
FLAGSTAFF, Ariz., March 28, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced financial and operational results for the fiscal year 2018, which ended on December 31, 2018.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
SenesTech will hold a conference call today at 5:00 pm ET (2:00 pm PT) to discuss these results and expectations for the coming year. See dial-in information below.
Annual results and recent highlights include:
Fiscal year 2018 revenue totaled $297,000 versus $57,000 in fiscal year 2017.
On a sequential basis, fourth quarter revenue totaled $137,000 compared to $110,000 in the third quarter of 2018.
The Company ended the year with approximately $5 million in cash and minimal long-term liabilities of $0.3 million.
The Company announced its largest ContraPest® order to ship to Washington D.C. with the deployment expected to commence in the spring of 2019.
SenesTech and Pestmaster announced deployment of ContraPest in a major transit agency in Southern California.
The Company confirmed news reports that the St. Louis Gateway Arch Park Foundation expects to continue and expand their use of ContraPest as the city of St. Louis embraces the role fertility control plays in integrated pest management.
The Company announced expanded deployment of ContraPest in a number of animal sanctuaries in the state of New York.
The Company hosted trials of ContraPest in poultry production facilities in Central California.
The Company added highly-regarded leader in the hospitality industry Kenneth Siegel to the Board of Directors.
Removal of the "Restricted Use Only" label from ContraPest was ordered by the U.S. Environmental Protection Agency (EPA) in October 2018, and subsequently, as of March 27th, the Company has received state approval for the new label in 23 states, including Florida and Washington.
The Company launched a new scientific speaker series, showcasing the scientists and researchers who have made substantial contributions in rodent/animal behavior, rodent management, fertility control and other related fields.
Continued improvements in cost of goods sold should improve gross margins in 2019 significantly.
Dr. Loretta P. Mayer, Co-founder and CEO of SenesTech, said, "Our sales data and growth trajectory is now revealing that our successful introduction of ContraPest as an integral part of an Integrated Pest Management (IPM) strategy is captured in 'end-user' demand. We have tested our market entry strategy among pest management professional opportunities and end-user demand. We find that targeting our efforts in marketing directly to the commercial end-user market segments is key to our success. We are confident that this latter marketing focus, which we call 'pull', will drive substantial growth in 2019."
Dr. Mayer continued, "The consumer market segments, or verticals, on which we are focused are municipal and public applications, animal sanctuaries and animal care facilities (zoos), and food production and storage. As other verticals emerge with strong demand we will add them to our commercial roadmap. The 'voice of the customer' is clear and sustainable new strategies are not only welcome but demanded. Our continued successful deployments by our early adopters clear the way for our fertility control technology. The EPA (and participating states) are rapidly replacing 'restricted use' with 'general use' which is a cost-savings benefit to our end-users with in-house staffing that can now deploy our product."
Tom Chesterman, Chief Financial Officer of SenesTech, commented, "Revenues for the fiscal year were $297,000 versus $52,000 in fiscal year 2017. While we are starting from a low base, we are making measurable progress in establishing our business. Customer acquisition is growing as we continue to promote ContraPest for use in various types of applications. We continue to firmly control operating costs, maintain or improve a stable cash burn rate, drive revenue growth and improve gross margins."
Mr. Chesterman continued, "We ended the year with a cash position of approximately $5 million and long-term debt of approximately $261,000, which evidences our commitment to manage operating costs. As we enter the new year, we are in a solid position to continue to execute on our strategic business plan. We look forward to the opportunities ahead in 2019 and beyond."
Year End 2018 Conference Call Details
Date and Time: 5:00 pm ET (2:00 pm PT) on Thursday, March 28, 2019
Call-in Information: Interested parties can access the conference call by dialing (844) 308-3351 or (412) 317-5407.
Live Webcast Information: Interested parties can access the conference call via a live Internet webcast, which is available in the Investor Relations section of the Company's website at http://senestech.investorroom.com/.
To Ask a Question: The conference call will be moderated by Lytham Partners, an investor relations firm. There will be three options to ask a question during the call:
Questions can be asked live during the call-in portion of the conference call.
The live webcast will feature an option to submit questions in writing during the event.
If you are unable to attend the event, you can submit a question in advance to Senestech@LythamPartners.com.
Replay: A teleconference replay of the call will be available for three days at (877) 344-7529 or (412) 317-0088, confirmation #10129362. A webcast replay will be available in the Investor Relations section of the Company's website at http://senestech.investorroom.com/ for 90 days.
Use of Non-GAAP Measure
Adjusted EBITDA is presented herein and is a non-GAAP measure. However, this measure is not intended to be a substitute for those financial measures reported in accordance with GAAP. Adjusted EBITDA has been included because management believes that, when considered together with the GAAP figures, it provides meaningful information related to our operating performance and liquidity and can enhance an overall understanding of financial results and trends. See our attached financials for a reconciliation of this non-GAAP measure to the nearest GAAP measure.
About SenesTech
SenesTech has developed and is in the process of commercializing a proprietary technology for managing animal pest populations, primarily rat populations, through fertility control. For more information visit the SenesTech website at www.senestech.com.
<<<
SenesTech to Present at the Spring Investor Summit in New York on April 2, 2019
PR Newswire
March 27, 2019
https://investorshub.advfn.com/secure/post_new.aspx?board_id=28748
FLAGSTAFF, Ariz., March 27, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, announced today that it will be presenting at the Spring Investor Summit at The Essex House in New York City.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
The SenesTech presentation will be made by Tom Chesterman, the Company's CFO, on Tuesday, April 2nd at 11:00 am Eastern Time.
Investors interested in arranging one-on-one meetings should contact your conference representative. Conversely, you may also call or email Lytham Partners at (602) 889-9700 or senestech@lythampartners.com.
A copy of the slide presentation SenesTech will be referencing during the conference will be available in the Investor Relations section of the company's website at www.senestech.com.
About SenesTech
SenesTech has developed and is in the process of commercializing a proprietary technology for managing animal pest populations, primarily rat populations, through fertility control. For more information visit the SenesTech website at www.senestech.com.
<<<
>>> SenesTech's Brandy Pyzyna to Present Fertility Control Webinar on Wednesday March 27, 2019 at 2:00pm ET (11:00am PT)
PR Newswire
March 26, 2019
https://finance.yahoo.com/news/senestechs-brandy-pyzyna-present-fertility-130000667.html
FLAGSTAFF, Ariz., March 26, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, will be presenting at a webinar on the topic of Fertility Control in Rats. Brandy Pyzyna, Vice President of Scientific Operations and Technical Services, has authored and co-authored numerous papers and articles in the areas of fertility control and field research. She currently leads a highly skilled team to educate customers and deploy ContraPest® in some of the most difficult environments.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
"The use of fertility control to manage overabundant species is not new, but it is not a widely considered tool for most rodent control programs," stated Brandy Pyzyna. The presentation is aimed at discussing the history of fertility control in wildlife management and how fertility control can enhance integrated rodent management programs. Brandy will demonstrate why fertility control is a good tool for highly fecund, short lived animals such as commensal rodent populations and what criteria must exist for a fertility control agent to be successful and how this tool compliments any integrated pest management plan.
"Fertility control is a key tool for your IPM programs that is often seen as a concept of last resort when all else has failed. I know Brandy has a keen insight on why this is too limited a view and will be able to educate the listeners on considering this as part of an initial solution," said Dr. Loretta P. Mayer, SenesTech's CEO and co-Founder.
Webinar Event Details
Date and Time:
2:00 pm ET on Wednesday, March 27, 2019
Register for Event:
https://register.gotowebinar.com/register/9185713060887412995
To Ask a Question:
There will be an opportunity to ask question via the webinar feature to submit a question in writing.
Replay:
A replay of the presentation will be available following the conclusion of the webinar event.
About SenesTech
SenesTech has developed and is in the process of commercializing a proprietary technology for managing animal pest populations, primarily rat populations, through fertility control.
For more information visit the SenesTech website at www.senestech.com.
<<<
Looks like SNES is making its move, with a nice run up underway ahead of the quarterly report. I figure 1.50 anyway (currently 1.31).
At this stage, what's key is the rate of adoption of their product and the sales/revenue numbers. As with the last quarter, SNES appears to have turned the corner with their business. This is a long term buy/hold imo, though as a micro cap it's higher risk.
SenseTech - Full transcript (was Q3 2018) -
https://seekingalpha.com/article/4221518-senestech-snes-ceo-loretta-mayer-q3-2018-results-earnings-call-transcript?page=3
>>> As you saw in today’s press release, revenue for the quarter was $105,000, more than six times compared to last year’s third quarter and virtually tripled on a sequential basis what we generated in the second quarter of this year. As we mentioned in the press release, we view this past quarter as an inflection point of source. From our standpoint, it is tangible evidence of the successful initial deployment of ContraPest into key markets and it acts as a springboard for the future adoption growth of ContraPest.
During the quarter, we continued to expand our distribution channel, adding Geotech Supply Company and Agri-Turf Distributing of California. These distribution partners will strengthen our presence in California, which is certainly a key market. We also signed a distribution agreement with Forshaw, a distributor with excellent market presence in the major East Coast markets.
Going forward, revenue generation will be positively impacted by the removal of Restricted Use Only qualifier from the label on our ContraPest product by the U.S. Environmental Protection Agency, which occurred subsequent to the end of the quarter in October. This is important to overall market acceptance and growth as the RUP label required applicators with specific additional training and special licensing, in other words additional cost to pest management professionals to apply and manage the use of the product. With the removal of the RUP requirement, the market for ContraPest can be substantially broadened. We are now petitioning in the various state markets to recognize this EPA action.
Going forward, we will also benefit by offering a new bait delivery system, which was also launched in October that will seamlessly fit into the existing Bell Labs PROTECTA EVO Express system. The Bell Labs box has a large established customer base throughout the U.S. And again, we’ll make deployment easier and more cost effective for pest management professionals. The launch of the new bait delivery system is an important tactical milestone in a broader-based growth of our customer market in the coming years.
Costs of sales for the quarter were comparatively high at a $114,000 compared to revenue of a $105,000. There are a couple of offsetting factors that deserve some explanation here. On the one hand, we have continued to improve our manufacturing process, increasing our [ph] bait size, streamlining the quality control process et cetera.
This has the effect of dramatically improving our cost of goods sold, but most of this benefit will be captured in future quarters. Offsetting this in this quarter’s results is that we had unusually high scrap of ultimately unsalable product. This is perhaps an understandable result of scale-up and process improvement and is likely to -- unlikely to recur.
Gross profit has also been reduced by some of the customer acquisition cost that we have incurred. This past quarter, we’ve had a couple of promotion products to incent the adoption of ContraPest by new customers. We have been diligent in our controlled operating expenses as we continue to shift our resources from R&D to commercialization efforts with the goal of keeping stable overall expenses. Overall we had an adjusted EBITDA loss of $2 million compared to $1.9 million in the year ago quarter.
As most of you know, we recently completed a rights offering that yielded net proceeds to the company of approximately $5 million -- $5.1 million, putting us in a strong operating position for the next year. We are pleased that many of our shareholders participated in the offering to maintain their percentage holding in the company and to benefit from the opportunity as we continue to execute on our strategic business plan.
We completed the quarter with $7.2 million in cash and equivalents and minimal long-term debt of approximately $296,000. With that, let me turn the call over to Dr. Loretta Mayer, our Chairman and Chief Executive Officer for some further comments. Loretta?
Loretta Mayer
Thank you, Tom. I really appreciate it. And before I begin with my comments, I would ask all of us on the phone to take a moment and think about all the people and animals that have been displaced in the State of California with these treacherous fires. We’re working as closely in California as we are. Many of these people are friends.
So, let me move into some of the -- add some more color to these numbers. In our virtual conference call, we covered a lot of ground. I think the most important piece in that call is seeing how the company’s overall profile is beginning to sack not only not only in the pest management industry, but in the industry of safety, food safety and many of our verticals.
And so, we’ve used our website and I would encourage all of you to go to senestech.com and take a look at that website. And I think you’ll see how different it is from the way it used to be. For the first part of that website, it allows us to dig into where we’re going in our markets. On our home page you can actually see how our product is used and how it’s placed, how it integrates into a pest management program, we’ve added videos. These are things we’ve learned from our customers, videos.
How do you actually put it out, how do you screw the takes on to the trees, what does it look like. But I think the most important thing our marketing team has done is on every single page there is a call to action. If you want to know more about the product, you can just tap touch more, learn more. But at the top and bottom of every sheet, I think the most important call to action is order now. And because our product goes out to pest management professionals through distributors, we are beginning to work closer and closer with our distributors.
So, when you hit order now, you will go directly to our product page with that distributor. And if you’re looking for a pest management professional, you can hit that button Find a PMP. So, what we’re doing here is we’re capturing the interest of people online without having multiple 100 calls and emails to info@senestech.com.
I think another aspect of this month is that it is really pivotal because of solid growth. And what I mean by that is we are receiving orders, more and more orders, but when you dig into this, we are now starting to see re-orders. And anyone who has ever been in sales knows it’s not the first order, it’s the second order that will ensure your stable growth and that’s what SenesTech is, yes.
We are an innovative new product. We are something that adds to any PMP’s protocol. We relieve the ease of lethality for people who are working around schools or are animal welfare groups, but we move solid and slowly into our markets. And our experience with our customers and these sales provide this incredibly solid foundation for our future.
What do I mean by that? What I mean is when we all began this process; we did not have a roadmap that was experience-based. Our timing was not evidence-based. Let me give you some idea of that. One of the major things that we accomplished in this quarter was the removal of the Restricted Use Product from our label. The EPA removed that.
So, what that means is that our product is being used. We have enough experience. There have been no major problems with it. Clearly does not require the particular in-depth use of paper work and licensing. And so, with that removed, it allows many other people to use the product. Some who won’t use it because they have a policy against using RUP products and others because they have internal people who will be putting out their products that are licensed, but not RUP certified.
So, once that occur, now in timing you would say, boom. Okay, that occurs. When it happens, all the labels have to change and all of the manufacturing lines, all of the materials, our website. They have to change to lift the RUP restriction. And the RUP restriction is approved, the label is approved in every state, but the actual RUP lifting is also approved in every state. This is going very rapidly for us. We are looking at a total of two weeks to six weeks to completion from the time we put it out. Does it mean we can take pre-orders for the product and that is what we’re doing?
I would like to talk a little bit about some of those market segments and the demands for certain features and benefits of our product. We have segmented now based on the data we have collected, the product we’ve sold, the experience we’ve had, the major markets ranking them as to must-have, would be good to have, would be nice to have and ordering our resources into those markets.
So, let’s take a look at a couple, and I know many people tend to ask me about those gains. We don’t mention specific customers because many of them are going to put out their own press on this and they are driving it. We’re happy to quote their press. And some of them want to be a leader in their particular market segment, municipalities. We have talked about New York City, Chicago, Washington DC and we continue to make in-roads and make those second sale.
The one that we mentioned in Washington DC, I can tell you the budget has been approved, that’s public knowledge. Line item for pest management is in the budget. The use of ContraPest is also in that budget and that purchase order has been approved. And now the bidding between the distributors will be ongoing.
So, you can see that it would be naïve to say on the day the budget was approved we will ship the next day. What we’re doing here now with all of this experience is we’re able to accurately predict when that product will be deployed and we integrate with our manufacturing teams.
We’re just in time manufacturer. Also we have had further neighborhood expansions with other municipalities that is continuing to grow. California of course is probably the most spectacular because they have groups such as Poison Free Malibu, 16 County who do not want to use lethal.
The other piece in these market segments is working very closely with strategic pest managers. I want to take just a moment to spotlight Pestmaster. I’ve been working side by side with their CEO, Jeff Van Diepen. And we are combining our strengths. Pestmaster has a GSA contracting expertise and ability.
So, when you combine that with our early work with the U.S. Army and the Island of Oahu and then we are working with another very large armed forces location, Jeff and I together can then go to the armed forces Integrated Pest Management Board as a team, this is where that partnership is quite useful. He has already integrated the ContraPest into his GSA. We have ContraPest experience. Together we can go and expand our market into the military and government contracts.
We continue to build on the future of our non-lethal approach. And this probably spotlighted the most in our market segment which include zoos, animal research facilities and animal sanctuaries. As of this past week, we are now working with the total of nine zoos, four research facilities -- I’m sorry, four sanctuaries and two research facilities.
What this does is this allows our technical team who are deploying out there, and they probably should get hazard pay because putting a ContraPest box out in a pin where there is a black bear is a little off putting, but these people are extremely dedicated. And so, as they do that, zoos have an association. And within that association, they can share their experiences and expand the market through these deployments and this is what we’re seeing. That’s exactly the same for animal research facilities.
Food safety -- food security that is a growing customer demand in this industry and there are many people who want to solve their rodent problem, adding fertility control indeed provides a sustainable knockdown with no rebound, but they have certain locations have zero tolerance.
And what that means is that at the ice cream cone factory, they would very much like to have ContraPest around the perimeter of their building where they knockdown those pests or inside that facility where the ice cream cones are made and packaged. They need a lethal approach. They don’t want poison; there are alternatives, snap traps, et cetera. And I want to thank our investors who care so much about this company to put me in touch with a global company that is top of the line with this type of lethal approach that is non-poisonous. So again, it’s coming into play with the partners that are emerging from these enormous meetings such as the NPMA.
As we keep moving forward building in those market segments, we have a parallel strategy of continuing to approve our regulatory position. Obviously the RUP removal, designation was very large, the EPA approving our new delivery system for the EVO Express. Back a while; we reduced our toxic exposure from a category 3 to a category 1. We’ll be looking to move that to the category that includes water.
And in the progression as people begin to use this, talk about it, go to our website, they’re starting to embrace the concept. Yes, this is an alternative that we should be looking at. We are also working with the addition of mice to our label. We have the data set, formulation change to a non-liquid delivery and full outdoor use to accommodate our island ecologies where we need to drop that product by a helicopter.
While these financial results reflect our penetration into the pest management professional community, I would like to suggest that more relevant to our future growth is the increasing voice of the customer and the community. We communicate now more and more with animal welfare groups, with transit authorities, with municipalities. We are expanding in food production. And these are very large food producers that are having serious problems with sanitation and the controlling of diseases such as salmonella.
So, we’re learning. They’re coming back to us and saying, well, you know you’re right. I use lots of this product over time. When we put the product out such as in one of our major California cities, there isn’t a need to put it out in the same way you would put out a lethal product. And we lead with different boxes and control bait again. If you haven’t taken a look at our bait, it’s a liquid; you can see it on the website. It is primarily fat and sweet and that is not only attractive to the animals, but it also provides that feed forward.
We’re currently involved with a large group, which is beginning to look at the positioning of a sustainable pest management solution in the development of lead buildings and plan it from the alternatives. With those groups it allows us to work with another market segment in structural which includes contractors and building from the ground up and we’ll be working in Chicago this week.
I think expanding our sales effort through our corporate accounts and focusing on these directions and listening to that voice of our customer, we’re really starting to build the knowledge of ContraPest, a desire for ContraPest and our call to action is do it now. I think that it’s going to be an incredible 2019. I am also looking forward to Q4 of 2018.
And with that, Robert, I’d like to turn this over for any questions that our investors may have.
Robert Blum
Yeah. Brandon, can you provide the instruction on how to queue up please?
Question-and-Answer Session
Operator
Absolutely. We will now begin the question-and-answer session. [Operator Instructions] Our first question comes from Kevin Ellich with Craig-Hallum. Please go ahead.
Kevin Ellich
Good afternoon. Thanks for taking my questions. Loretta, just wanted to see if you could give us an update first on how things are going in California as well as Hawaii since you guys had the formal launch happened during the quarter?
Loretta Mayer
Sure. In California, we are -- we have a two-pronged approach. We are building our distributors and you can see that on our website. Also in California, we are starting to enter the call of several large groups not only municipalities, but beginning taking a look at the university systems and working with some ag where food production is an issue.
Hawaii really is a very close tie to California because in Hawaii we now have our product stocked with our distributor. We are moving out to supply to the PMPs there. I’ve recently returned working with the University of Hawaii to provide product to a very fragile island in the Kane’ohe Bay, Coconut Island. Hawaii is leading the island ecologies.
And I think the other thing about that in addition to sales from those markets, our largest sale will come from California as we predicted, there is no question about that. Some of our more island-specific sales will come from Hawaii. Both environments are demanding something that is more sustainable. And our challenge is working with our PMPs to train them as fast as we can to put that product out.
It has also opened us up to I will tell you there is a very large partnership coming with our huge global island ecology group. As they move forward using this strategy because people if you have people on an island or animals on an island, you cannot continue to drop buckets of poison. And that’s what they’re moving towards not doing that anymore. Does that help, Kevin?
Kevin Ellich
It does. That makes a lot of sense. Thanks for that update. And then I guess it kind of segues into the revenue this quarter, it was nice to see it triple or almost triple. But I remember you guys have previously said that July was a record month for you somewhere that $50,000 to $60,000 range and for every record you did $105,000, so over half came in July. Just wondering if you could talk about the lumpiness of how sales trended in August and September?
Tom Chesterman
Yeah. I think -- it’s already complicated enough to do things quarter-by-quarter. Moving into month-by-month when you’re looking at using a distribution channel like ours, you do get lumpiness, no question about it. July was a record month especially because of California and filling the distribution channels there, but also from some other distribution orders. There is no question that some of that probably then led to a slackening off as they did fill their distribution channels and now they need to deplete their inventories and move forward.
The other thing that is certainly there is that there was widespread expectation that the RUP label would eventually be removed and there could have been some waiting for that going on as well as people saw that on the horizon and deciding that they much prefer that or that they much prefer the EVO. So, there may have been some anticipation there too that caused a little bit of slackening off from the July trend.
Kevin Ellich
Sure. Now that’s a good segue to this question, Tom, about the Restricted Use label change with the EPA. Our understanding is again now that you have the federal change, you still need to get the states to change, to sign off. Is that correct? Could you give us an update on how that process is going and when we will really see sales start to accelerate?
Tom Chesterman
Yeah. I’ll give you the brief stabs on them and then let Loretta go into any more detail. But you’re right, the states do have to approve. Not only -- there is actually two things they have to approve. One is that when we’ve removed the RUP for EPA purposes that means a new label, a new label doesn’t have the restricted on it obviously. So, the states have to approve that label.
Then they also have the restricted product list. And so, then they also have to approve that and that is a technically a separate approval and that process is ongoing. Now during that process, as Loretta mentioned earlier, we can begin taking pre-orders, but we will have to wait for each of the states to give us both of those approvals before we can move forward.
Loretta any further comments on that?
Loretta Mayer
Tom, I think you captured it quite well. It’s just a process that we have to move through. And as we get those states, we forward those states immediately to our manufacturing and shipping department so that they can go ahead and send out those orders.
Kevin Ellich
Tom, have you gotten any states yet? And then is it safe to assume you won’t recognize the revenue until the product is actually shipped?
Tom Chesterman
I’ve been busy with the quarter close, so I have not kept up with our internal spreadsheet on what is approved and what is not. I know that there has been quite a bit lot of activity on that. I will answer the second part though, which is to say yes, we bill as we ship and that says we -- and that’s where we recognize the revenue as well.
Kevin Ellich
Okay, but….
Loretta Mayer
So, on the number of states as of this past week and we get those state numbers every Friday, we are sitting at 27 states who have already approved the label. The State of Kentucky has approved the label and they removed it from their restriction list. So, they are A1 complete state. And we look as I said over the next two weeks to six weeks to close in on all of the states.
Kevin Ellich
Okay, sounds good. Thanks guys.
Operator
[Operator Instructions] Our next question comes from Gerry Sweeney with Roth Capital. Please go ahead.
Gerry Sweeney
Good afternoon, Loretta and Tom. Thanks for taking my question.
Tom Chesterman
Good afternoon. What can we do for you?
Gerry Sweeney
I want to talk a little bit about you talked about the promotional costs. Can you maybe segment how much they were and are they going to continue. I imagine there is always going to be some type of the promotional site going on, but as you get more and more green with more distributors et cetera, it’s likely to decline. But any way you can give a little bit more information on that front?
Tom Chesterman
Yeah. As we’ve begun this launch this year, we’ve tried a number of different promotion types. We’ve tried providing one of the easiest ways of getting a PMP to try it as to say we’ll give us your hardest infestation and we’ll give you a month or two free and then you can -- if it’s working, you can continue. We’ve also done a buy one get one free area, so a number of different promotions that we try. The fact of the matter is that this is such a novel approach that there isn’t the ideal playbook for what the promotion should be.
In this past quarter, our promotion cost or in fact it’s probably easier to do it just from a year-to-date standpoint. Taking all of the promotions together from a year-to-date has been perhaps a little bit higher than usual. It’s been running a little bit less than 20% gross to net, but that’s -- and I’m not sure that’s going to continue with that same high rate because as Loretta mentioned, we’re moving into a different type of a sale as we look at some of these corporate accounts that are driving things for reasons beyond just the initial cost. They’re looking at the overall cost of a program and the sustainability of it et cetera. So, I don’t know whether that’s going to continue. We’ll continue trying different things. And that’s the most guidance I can give you on that.
Gerry Sweeney
Okay, great. And then just staying on the -- maybe on the margin side, you talked about making process improvements et cetera. And historically, I believe this may be incorrect and please correct me if I’m wrong, you are targeting maybe gross margins around 50% plus. Is there any substantial change to that number with the work you’ve done on the manufacturing process or is this a little bit more just the tweaking and being process controls, quality control, et cetera?
Tom Chesterman
No. I think we’re continuing on a trend of improvement, a very good trend of improvement. I think that that’s as a target for gross margins that’s still quite valid. In fact, we may be able to exceed that. There are a number of different parts of the production process that we’ve gotten improved, bait sizes one that we mentioned. The QC program is still fairly intensive and we’ve looked at ways of streamlining that and the cost of materials. Some of our active ingredients and other ingredients are also coming down as we learn how to work that system better. So, I still think that’s a good number for our target. And in fact I think we may be able to increase that number.
Gerry Sweeney
Okay. And then Loretta this may be more for you on the mice data and working on that front. Any idea as how long that would take or potentially get that registered for use with mice?
Loretta Mayer
I had gone mute, sorry. Thank you, Gerry. Yes, Cheryl is going to be EPA tomorrow. And we have two options. First option is to ask the EPA to add mice to our label, which means we have to provide a data set, which we have. The other option would be to decide that we wanted to develop a separate product for mice, another with a product that would have a smaller bait box that would be used differently.
The reality is we’ll know after this week what the EPA would suggest for us. And we’ve been so successful following their suggestions that that is our strategy to move forward. I’m kind of a riverboat gambler. And I would bet we’re going to add it to the label because frankly if that box is out there and no rats have gone into it and you have mice instead of rats, they’re going to go into the box. So, that’s something working.
Gerry Sweeney
I assume that when you add mice’s label, it is same across the board, so no restricted use, toxicity et cetera, et cetera. So, it’s just, hey, you can use it with mice?
Loretta Mayer
Right, exactly. And we do have a lot of customers where they say we don’t have rats, but we have mice. So, then we would be able to say to them our product is also approved for mice. And currently I cannot say that because it’s not approved for mice, but that’s a much faster runway than a new mounted.
Gerry Sweeney
With the understanding of maybe some regulatory issues around this question, but I’m assuming that you get similar results with mice as in rats, any distinguishable difference good or bad or different?
Loretta Mayer
No. It definitely maintains a very high efficacy. Mice are more susceptible and mice really love it. So, they take less. And again, going forward, these are the kinds of things our customers will help us with. And as the voice of the customer says, look, we just need some small boxes because they never empty a whole thing because they’re mice, they don’t drink that much. Well that makes a great deal of sense of course. But no, it’s exactly the same as the product for rodent.
Gerry Sweeney
Okay. I assumed that. I just wanted to make sure. And then not to beat a dead horse here, but just going back, if you add it to the label is this that the EPA says hey added to the label, is there a process with the states maybe similar to maybe removing the restricted use label or is it pretty quick clean process?
Loretta Mayer
It’s the exact same process. They add it to the label; we had the label approved by the EPA, we then send the stamped approved label to all the states. They accept the label. And then since there is no restricted use, you don’t have that secondary regulatory term.
Gerry Sweeney
Got it. Perfect. Great, I really appreciate it. Thank you for taking my call -- questions. Sorry.
A - Loretta Mayer
Our pleasure.
Operator
I would now like to turn the call over to Robert Blum for any questions from the web.
Robert Blum
Yeah guys. We have a couple of questions here and a few have already been answered. Tom, this one I think you touched on a bit already, but anything you care to add on the discussion of net sales numbers. How much of that was sort of the giveaway of any free months and promotions?
Tom Chesterman
Yeah. I think we’ve already covered that one.
Robert Blum
Okay. Next couple questions here relating to guidance, any guidance or expectations for the upcoming quarter or goals that you might have?
Tom Chesterman
Yeah. We do not as a policy provide guidance yet. Frankly the data points aren’t sufficient to give us an absolute predictable level to provide to the street. So, we do not provide future guidance at this time.
Robert Blum
All right. And one further question here. Could you give us some estimates on what it will cost typical customers to use ContraPest? How much will be continuing maintenance as a percentage of the initial use?
Tom Chesterman
You know that’s a really good question. I think you first have to define what is a typical customer. And what we’re finding out is that there is no such thing, every customer is a little bit different their infestation is going to be different.
The other thing I think is important to keep in mind here is that ContraPest is most often integrated into a service. It’s a product that’s integrated into integrated pest management services provided on a monthly subscription basis primarily. So, how it is actually deployed and where and how much it costs and how it’s billed, those are really things that have to be decided in conjunction with and by the pest management professionals that are deploying it out on the field.
So, I don’t think we can give a really good no to that. What we will say is that we do believe that based on the fact there is not a rebound and the fact that it does work, it is efficacious in reducing populations that actually the cost over time may go down of the materials. But that is -- again, this is part of an overall service and how that service is packaged by the pest management professionals is really what they do, not what we do.
Loretta, do you have anything else to add to that?
Robert Blum
Loretta?
Tom Chesterman
I guess we’ll move on.
Loretta Mayer
Okay. Yeah, I’m not on board with Tom there. I do think one thing that’s really important is when you look at the two separate segments, when you’re looking at the Pestmanager who is selling a service, they do not want to lose that. And if they can prevent the feeling on the customers’ behalf of oh my God [Technical Difficulty] get down again, I’m going to try somebody else. We can help them retain that customer.
On the other side of the coin and which is a huge savings to the PMP. On the other side of the coin for the customer, the customer in some cases if they have a certain environmental sensitivity, they really don’t care what it cost. And I mean of course within bounds, you’ve got to be within your budget. But to watch it go down because it’s very simple, if a rat eat it, it won’t reproduce. If it doesn’t reproduce, there are fewer rats. As you have fewer rats, you use less product unless you have a massive invasion from your neighbor next door who is a garbage truck company or something.
So, I think it’s just -- it’s very simple in the mind this is how it works. And as we grow, we can go from the very simple common sense to the nut and bolt and population models and value models over time that are really founded in serious evidence-based results. Thank you, Robert.
Robert Blum
All right. Thank you, Loretta. And it appears we have no further questions at this time. So, Loretta, any closing remarks that you might have?
Loretta Mayer
Thank you, Robert. It’s really a pleasure to be on these calls for me. We appreciate the continued interest and time. And I want to say that we’re all in this together, our employees, our users, our investors, the planet, our customers. And we would encourage you to help us by visiting our website and giving us any feedback because again it’s the voice of a customer, the voice of the reader, the voice of the investor that helps that rising tide to lift our boats. So, we think that this carries quite a responsibility and a need for continued learning and I want to thank everyone for being with us today. Robert?
Operator
The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.
<<<
SenesTech - transcript from the Q4 2018 earnings call (link below).
A tiny company like SenesTech ($27 mil mkt cap) is going to trade mainly on news and potential. SNES is just starting to generate revenues so the growth rate will be extremely high, which should attract investors.
One thing I like about SNES is that unlike a traditional bio stock, they don't have to go thru the endless and expensive Phase 1,2,3 process with the FDA.
https://seekingalpha.com/article/4221518-senestech-snes-ceo-loretta-mayer-q3-2018-results-earnings-call-transcript?page=2
>>> As you saw in today’s press release, revenue for the quarter was $105,000, more than six times compared to last year’s third quarter and virtually tripled on a sequential basis what we generated in the second quarter of this year. As we mentioned in the press release, we view this past quarter as an inflection point of source. From our standpoint, it is tangible evidence of the successful initial deployment of ContraPest into key markets and it acts as a springboard for the future adoption growth of ContraPest.
During the quarter, we continued to expand our distribution channel, adding Geotech Supply Company and Agri-Turf Distributing of California. These distribution partners will strengthen our presence in California, which is certainly a key market. We also signed a distribution agreement with Forshaw, a distributor with excellent market presence in the major East Coast markets.
Going forward, revenue generation will be positively impacted by the removal of Restricted Use Only qualifier from the label on our ContraPest product by the U.S. Environmental Protection Agency, which occurred subsequent to the end of the quarter in October. This is important to overall market acceptance and growth as the RUP label required applicators with specific additional training and special licensing, in other words additional cost to pest management professionals to apply and manage the use of the product. With the removal of the RUP requirement, the market for ContraPest can be substantially broadened. We are now petitioning in the various state markets to recognize this EPA action.
Going forward, we will also benefit by offering a new bait delivery system, which was also launched in October that will seamlessly fit into the existing Bell Labs PROTECTA EVO Express system. The Bell Labs box has a large established customer base throughout the U.S. And again, we’ll make deployment easier and more cost effective for pest management professionals. The launch of the new bait delivery system is an important tactical milestone in a broader-based growth of our customer market in the coming years.
Costs of sales for the quarter were comparatively high at a $114,000 compared to revenue of a $105,000. There are a couple of offsetting factors that deserve some explanation here. On the one hand, we have continued to improve our manufacturing process, increasing our [ph] bait size, streamlining the quality control process et cetera.
This has the effect of dramatically improving our cost of goods sold, but most of this benefit will be captured in future quarters. Offsetting this in this quarter’s results is that we had unusually high scrap of ultimately unsalable product. This is perhaps an understandable result of scale-up and process improvement and is likely to -- unlikely to recur.
Gross profit has also been reduced by some of the customer acquisition cost that we have incurred. This past quarter, we’ve had a couple of promotion products to incent the adoption of ContraPest by new customers. We have been diligent in our controlled operating expenses as we continue to shift our resources from R&D to commercialization efforts with the goal of keeping stable overall expenses. Overall we had an adjusted EBITDA loss of $2 million compared to $1.9 million in the year ago quarter.
As most of you know, we recently completed a rights offering that yielded net proceeds to the company of approximately $5 million -- $5.1 million, putting us in a strong operating position for the next year. We are pleased that many of our shareholders participated in the offering to maintain their percentage holding in the company and to benefit from the opportunity as we continue to execute on our strategic business plan.
We completed the quarter with $7.2 million in cash and equivalents and minimal long-term debt of approximately $296,000. With that, let me turn the call over to Dr. Loretta Mayer, our Chairman and Chief Executive Officer for some further comments. Loretta?
<<<
Senestech - >>> Hosted Trials of ContraPest® in Poultry Production Facilities Results in Commercial Deployment in Central California
https://finance.yahoo.com/news/hosted-trials-contrapest-poultry-production-130100193.html
PR Newswire
March 11, 2019
FLAGSTAFF, Ariz., March 11, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, announced today that ContraPest® has completed initial trials in hosted poultry farms and will begin first commercial application in egg production facilities in California's central valley.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
"Poultry farms, and egg production facilities in particular, pose unique challenges for pest control. In keeping with our dedication to sound science, SenesTech works closely within specific market segments (in this case food production) to develop best practices. While ContraPest has already been deployed in trial poultry and grain facilities across the US, the development of these 'best practices' can now be expanded from host facilities into current integrated pest management protocols. These best practices for poultry and egg production facilities lowers rodent populations and improves safety standards in these sensitive environments," said Brandy Pyzyna, Vice President of Scientific Operations.
Ms. Pyzyna continued, "The palatable nature of ContraPest makes it a favorable bait in these environments where access to high protein chicken feed and grain is the primary food choice for rats. Consumption of ContraPest by rats in these agricultural settings has been instantaneous and ongoing. Local farm managers in these facilities have been happy with the results and have begun to see a reduction in their rodent problem since ContraPest was implemented."
"Poultry facilities have unique situations that drive losses in these segments not only in infrastructure damage and grain loss, but threaten public health issues introduced by rats with disease contamination of eggs and poultry meat. This becomes especially crucial as US egg consumption per capita is the highest it has been in decades (USDA, February, 2019); therefore losses to rodents must be reduced in poultry facilities to keep pace with increasing consumer demand," said Dr. Loretta Mayer, CEO and co-founder of SenesTech. "We appreciate the cooperation of our national food suppliers in providing us the opportunity to address their specific challenges and allow us to develop these best practices for the entire industry improving food security in the US."
About SenesTech
SenesTech is changing the paradigm of pest management by targeting the root cause of the problem: reproduction.
ContraPest® is an innovative technology with an approach that targets the reproductive capabilities of both sexes in rat populations, inducing egg loss in female rats and impairing sperm development in males. Using a proprietary bait delivery method, ContraPest® is dispensed in a highly palatable liquid formulation that promotes sustained consumption by rat communities. ContraPest® is designed, formulated and dispensed to be low hazard for handlers and non-target species such as wildlife, livestock and pets, where the active ingredients break down rapidly.
We believe ContraPest® will establish a new paradigm in rodent control, resulting in a decreased reliance on lethal options. For more information visit the SenesTech website at www.senestech.co
<<<
>>> SenesTech and Pestmaster Announce ContraPest® Deployment in Southern California Transit Agency
PR Newswire
March 6, 2019
https://finance.yahoo.com/news/senestech-pestmaster-announce-contrapest-deployment-140100387.html
FLAGSTAFF, Ariz. and RENO, Nev., March 6, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, and Pestmaster Services (Pestmaster), a pest control industry leader and one of the leading authorities on Integrated Pest Management (IPM) solutions, announced today deployment of ContraPest® in a major transit agency in Southern California.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
Pestmaster, who has an IPM contract with the large Southern California metropolitan transit agency, had previously submitted ContraPest for the agency's approval. The approval to deploy ContraPest was received on February 27. Pestmaster will move immediately for an initial deployment, and continue to deploy as needed within the guidelines of their IPM program.
"ContraPest is an integral part of our IPM strategy," said Jeff Van Diepen, founder and CEO of Pestmaster. "With this approval and deployment, we can now expand our use of ContraPest to other, similar agencies."
"Rat control challenges in California have been in the news lately, with numerous reports of rat infestations and related problems that are not responding to traditional methods. IPM that includes fertility control may well be the answer to those challenges," said Dr. Loretta Mayer, CEO and co-founder of SenesTech. "As with Washington D.C., bringing a new approach to a century's old problem requires the commitment and vision of an entire community. We look forward to working with Pestmaster, and forward-looking communities in achieving that vision of a safe and sustainable environment."
About SenesTech
SenesTech is changing the paradigm of pest management by targeting the root cause of the problem: reproduction.
ContraPest® is an innovative technology with an approach that targets the reproductive capabilities of both sexes in rat populations, inducing egg loss in female rats and impairing sperm development in males. Using a proprietary bait delivery method, ContraPest® is dispensed in a highly palatable liquid formulation that promotes sustained consumption by rat communities. ContraPest® is designed, formulated and dispensed to be low hazard for handlers and non-target species such as wildlife, livestock and pets, where the active ingredients break down rapidly.
We believe ContraPest® will establish a new paradigm in rodent control, resulting in a decreased reliance on lethal options. For more information visit the SenesTech website at www.senestech.com.
<<<
>>> SenesTech Announces Progress and Expansion of Washington DC ContraPest® Deployment
PR Newswire
February 26, 2019
https://finance.yahoo.com/news/senestech-announces-progress-expansion-washington-140000068.html
FLAGSTAFF, Ariz., Feb. 26, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, announced today further progress on deployment planning and expansion of scope for fertility control in the city of Washington DC.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
"Last Wednesday, in a meeting with Gerard Brown, Washington DC's Program Manager, Rodent and Vector Control Division, we discussed the planned deployment of ContraPest in Washington DC. We have agreed to assist the City in optimizing that deployment, as well as how best to expand deployment beyond the initial wards to all eight wards of the City," said Brandy Pyzyna, Vice President of Scientific Operations of SenesTech. "Maintaining a close collaboration allows us to bring our unique approach to the City's integrated rodent management plan."
"The strength of our technology lies in the ability to work closely with our customers to design, plan and review large impact projects such as Washington DC for successful rodent population decline and management. Mr. Brown has been an outstanding partner in the careful assessment of the City's rodent issues and embracing new ideas to pursue the most successful outcome possible. We are excited to work with him as the City adds fertility control to their all-encompassing approach, and jointly implement a 21st century smart approach to rodent control," said Dr. Loretta Mayer, CEO and co-founder of SenesTech.
A comprehensive roll-out of the ContraPest product will commence in spring. ContraPest has been delivered and is in place for deployment with the first ward. Sequential deployments are now planned throughout all eight wards. The City of Washington DC and SenesTech have agreed that this will provide the City with the best deployment strategy for coverage and maintenance. SenesTech is working in several municipal and other locations with similar deployment strategies to that of Washington DC, who will subsequently benefit from the close working relationship with Mr. Brown and his colleagues.
Dr. Mayer concluded, "Bringing a new approach to a century's old problem requires the commitment and vision of an entire community. We applaud the City of Washington DC in their dedication to creating a safe, sanitary and forward-looking community."
About SenesTech
SenesTech is changing the paradigm of pest management by targeting the root cause of the problem: reproduction.
ContraPest® is an innovative technology with an approach that targets the reproductive capabilities of both sexes in rat populations, inducing egg loss in female rats and impairing sperm development in males. Using a proprietary bait delivery method, ContraPest® is dispensed in a highly palatable liquid formulation that promotes sustained consumption by rat communities. ContraPest® is designed, formulated and dispensed to be low hazard for handlers and non-target species such as wildlife, livestock and pets, where the active ingredients break down rapidly.
We believe ContraPest® will establish a new paradigm in rodent control, resulting in a decreased reliance on lethal options. For more information visit the SenesTech website at www.senestech.com.
<<<
>>> Orchids Paper: Toilet Paper Never Looked So Dirty - Bankruptcy By The End Of The Year?
Seeking Alpha
Dec. 10, 2018
https://seekingalpha.com/article/4227402-orchids-paper-toilet-paper-never-looked-dirty-bankruptcy-end-year
Summary
Each 2018 quarter, Orchids Paper (TIS) has had a consecutively worse financial performance.
For the past two quarters, Orchids' gross margin has been almost 0%, while its SG&A and interest expense have ballooned to unsustainable levels.
We believe the banks won't extend Orchids deadline for a sale of its assets, and it will file for Ch 11 bankruptcy by the end of the year.
TIS recently rose over 100% on insignificant news, which we believe creates a good short opportunity.
Next quarter, marketing for new customers will be even harder for Orchids as competing ultra-premium tissue manufacturing facilities will begin production.
We Predict Orchids Paper Will Go Bankrupt Before The Year Is Over
Source: orchidspaper.com
We believe Orchids Paper (TIS) is going bankrupt, and it will happen soon, likely before the new year. The recent bounce two weeks ago on relatively insignificant news provides some room to short. We believe the equity is worthless as we show in this report.
The hygienic paper industry has been the worst it has ever been for producers for a couple of years now, and it keeps getting worse for Orchids Paper. Prices have come down, while costs have risen. For example, the price of hardwood pulp, an ingredient in tissues and toilet paper, has surged about 60% since late 2016. We don't believe Orchids shareholders will come out of this tough period with any value in their shares.
In an article from tissueworldmagazine.com published on 7/2/15 it states:
The brand producers - P&G, K-C, and GP - compete strongly with TAD products. But other smaller players - Clearwater, First Quality, and Kruger - started up four new TADs in the last four years to compete more strongly in the ultra and premium categories.
<<<
>>> SenesTech Announces Largest Shipment of ContraPest Ever to Washington DC
Jan 8, 2019
http://ih.advfn.com/stock-market/NASDAQ/senestech-inc-SNES/stock-news/79012097/senestech-announces-largest-shipment-of-contrapest
FLAGSTAFF, Ariz., and RENO, Nev., Jan. 8, 2019 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced the largest order of ContraPest® in the company's history was shipped to Washington D.C.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
"Washington D.C. has been in a 'war on rats' as noted by not only the pest management industry but also the local and national media, including articles in the Washingtonian and the Washington Post. The conditions are currently favoring the rats greatly due to the changing climate conditions, increasing population and travel to the District. Following numerous technical discussions with our scientific staff, the city decided to add ContraPest to its rodent control arsenal," said Dr. Loretta P. Mayer, co-Founder and CEO of SenesTech.
On November 27, the city issued a solicitation for up to a four-year supply of ContraPest for all eight wards of the city, beginning with Ward 1, and then expanding to other wards, specifying at least 469 bait stations for initial deployment in four wards. The solicitation period ended on December 17, and multiple bids from ContraPest distributors were submitted.
Dr. Mayer continued, "One of our certified distributors, Pestmaster Services®, informed us that they were to be supplying the city, and placed a stocking order to supply Washington D.C. Five thousand (5,000) units were shipped on December 28, and should be received today in the city. Our improvements to our manufacturing capacity, our recent launch of the new tank designs for the PROTECTA EVO EXPRESS1 stations requested by the city, and dedicated staff made for a satisfying end to 2018. We will continue to work with the city and Pestmaster Services on the deployment of ContraPest."
"As a long-time industry leader, Pestmaster Services has built its reputation in implementing Integrated Pest Management (IPM) services that address the root of pest issues and eliminate them. Pestmaster Services IPM methods and eco-friendly pest control services are contracted nationally via the federal government GSA Contract system. Federal agencies can access critical pest management issues quickly using this vehicle. Additionally, Pestmaster Services is the #1 Small Business service provider to the federal government, operating in 16 states and D.C., and is planning additional efforts to utilize ContraPest throughout the service area," said Jeff Van Diepen, President, Pestmaster Services.
Dr. Mayer concluded, "We are very proud to be able to provide this product to and through our partner, Pestmaster Services. Having Pestmaster by our side is indeed an asset to our commercial account sales. We continue to pursue key agreements with national accounts that have been waiting for our recent product improvements to launch ContraPest in 2019."
About SenesTech
SenesTech has developed and is in the process of commercializing a proprietary technology for managing animal pest populations, primarily rat populations, through fertility control. For more information visit the SenesTech website at www.senestech.com.
<<<
>>> Beyond Meat is going public: 5 things to know about the plant-based meat maker
By Ciara Linnane
Jan 15, 2019
https://www.marketwatch.com/story/beyond-meat-is-going-public-5-things-to-know-about-the-plant-based-meat-maker-2018-11-23
Beyond Meat has a surprising number of competitors and plans to expand around the globe
Beyond Meat
Beyond Meat, the company created by vegan Ethan Brown in 2009, is planning to go public to raise the money it needs to grow its line of plant-based meats.
The maker of the Beyond Burger, which is sold at Whole Foods AMZN, -0.69% and restaurant chain TGIF, has applied to list on Nasdaq under the ticker symbol “BYND”.
Goldman Sachs, JPMorgan and Credit Suisse are lead underwriters on the deal with BofA Merrill Lynch, Jefferies and William Blair acting as co-managers. The company, which also makes pork and poultry products, has not yet set a price range or specified how much it is aiming to raise, using the placeholder sum of $100 million in its prospectus.
Proceeds of the deal will be used to expand current manufacturing facilities and open new ones, to finance research and development and to boost sales and marketing, along with the catchall “general corporate purposes,” according to the prospectus.
“As a young adult, I enjoyed a career in clean energy but continued to wrestle with a question born of these early days: do we need animals to produce meat?,” asks Brown, who is chief executive as well as founder of Beyond Meat, in a letter included in the prospectus.
The letter explains how Brown set out to understand the history of human consumption of meat, acknowledging that it helped spur the increase in brain size that allowed our ancestors to become hunters, not scavengers, and led to the development of agriculture.
But the toll taken on human health, the environment, natural resources and animal welfare is a high one, he says, listing as examples of unintended consequences such illnesses as cancer, heart disease and diabetes.
“Livestock emerged as a major contributor of greenhouse gas emissions, with related burdens on land, energy, and water,” says the letter.
Brown argues that humans do not need to fully abandon meat, but to change the definition to one that considers composition and structure-—amino acids, lipids, trace minerals, vitamins and water.
Those core elements are not exclusive to animals, but exist in the plant kingdom too, he says.
“The animal serves as a bioreactor, consuming vegetation and water and using their digestive and muscular system to organize these inputs into what has traditionally been called meat,” he writes
“At Beyond Meat, we take these constituent parts directly from plants, and together with water, organize them following the basic architecture of animal-based meat. We bypass the animal, agriculture’s greatest bottleneck.”
Beyond Meat’s strategy is to place its products in the meat case at its grocery partners with the aim of persuading meat lovers to try it out. The company does not try to market to vegans and vegetarians, who account for less than 5% of the U.S. population. The Beyond Burger is now available at about 11,000 of its 17,000 grocery-store customers in the U.S., says the prospectus.
It is also available at Canadian fast-food restaurant chain A&W.
Here are five things to know about Beyond Meat ahead of its IPO:
It has never made a profit
Beyond Meat has successfully grown its revenue over the years, but has yet to produce a profit. In the first nine months of 2018, the company generated revenue of $56.4 million, more than double the $21.1 million posted in the year-earlier period, and more than the $32.6 million posted for all of 2017.
But its net loss in the nine-month period came to $22.4 million, only slightly less than the $23.4 million loss posted in the year-earlier period. The company’s loss for 2017 came to $30.4 million, wider than the $24.1 million loss posted in 2016.
“We anticipate that our operating expenses and capital expenditures will increase substantially in the foreseeable future as we continue to invest to increase our customer base, supplier network and co-manufacturing partners, expand our marketing channels, invest in our distribution and manufacturing facilities, hire additional employees and enhance our technology and production capabilities,” the prospectus cautions. “Our expansion efforts may prove more expensive than we anticipate, and we may not succeed in increasing our revenues and margins sufficiently to offset the anticipated higher expenses.”
Investors should also note that like many companies when they first go public, Beyond Meat is not planning to pay a dividend in the foreseeable future. That means investors must rely on stock gains to generate returns.
It has some big ambitions
Beyond Meat is expecting the alternative meat category to become a multibillion-dollar market over time and to take significant share from the $1.4 trillion global market for meat. The company is planning to mimic the strategy used by the plant-based dairy industry, which currently is the same size as about 13% of the dairy milk industry at about $2 billion in 2017.
“The success of the plant-based dairy industry was based on a strategy of creating plant-based dairy products that tasted better than previous non-dairy substitutes, packaged and merchandised adjacent to their dairy equivalents,” says the prospectus.
Using that same strategy could boost the plant-based meat category to the same proportion of the roughly $270 billion meat category in the U.S. — or $35 billion in the U.S. alone.
The company has launched in Europe via contracts with three distributors and reports strong interest from European grocery and restaurant chains. It is planning to open manufacturing facilities in Europe in 2020. It also has a local distributor in Hong Kong and expects to expand in Asia over time.
It has a surprising number of competitors
Plant-based meat may sound like a niche market, but Beyond Meat says it is operating in a highly competitive environment. The company is competing with other plant-based protein makers, including Boca Foods, Field Roast Grain Meat Co., Gardein, Impossible Foods, Lightlife, Morningstar Farms and Tofurky. But it also views traditional meat companies as rivals, including such giants as Cargill, Hormel Foods Corp. HRL, -0.12% JBS JBSS3, +2.14% , JBSAY, -7.67% Tyson Foods Inc. TSN, -1.38% and WH Group 0288, -1.27% the owner of Smithfield.
Those companies have far more money and resources and their products are already widely accepted by consumers.
“They may also have lower operational costs, and as a result may be able to offer conventional animal meat to customers at lower costs than plant-based meat,” the prospectus says. “This could cause us to lower our prices, resulting in lower profitability or, in the alternative, cause us to lose market share if we fail to lower prices.”
Alternatively, traditional food companies may decide to acquire makers of plant-based foods and launch their own alternative protein products, using their size and scale to gain market share.
It needs a lot of one special ingredient
The main ingredient in Beyond Meat’s products is pea protein, an extract of yellow peas, which it currently sources from Canada and France. However, it has one single supplier of the protein, which represented 79% of net revenue in the first nine months of 2018. The company has already suffered supply interruptions from this supplier that caused delays in delivery.
The price of pea protein is vulnerable to a range of factors, from poor harvests caused by bad weather to natural disasters and pestilence, as well as changes in economic conditions and the number of farms that grow them.
Beyond Meat says it is working to diversify its supply chain and lock in prices through long-term contracts.
It does not have fixed contracts with co-manufacturers
A significant amount of Beyond Meat’s revenue stems from products that are made at facilities owned by co-manufacturers, including CLW Foods LLC and FLP Food LLC. CLW Foods is a California-based producer of ground beef, while FPL is a Georgia-based beef company.
But the company does not have written contracts with either company, meaning they could end or change the relationship at any time.
See: Happy Halloween! How the food industry tricks you into buying candy, chocolate and soda
“We believe there are a limited number of competent, high-quality co-manufacturers in the industry that meet our strict quality and control standards, and as we seek to obtain additional or alternative co-manufacturing arrangements in the future, there can be no assurance that we would be able to do so on satisfactory terms, in a timely manner, or at all,” says the prospectus.
In the meantime, it is embroiled in litigation with a former co-manufacturer, Don Lee Farms. That company filed a suit against Beyond Meat in California in 2017, claiming its contract was wrongfully terminated and that the company shared trade secrets with subsequent co-manufacturers.
Beyond Meat filed a cross-complaint alleging that Don Lee Farms breached its contract when product was contaminated with salmonella and it failed to take actions to address that issue.
<<<
>>> Magal Security Systems Ltd. (MAGS) develops, manufactures, markets, and sells perimeter intrusion detection sensors, physical barriers, video analytics and video management systems, and cyber security products and systems worldwide. It operates through three segments: Perimeter Products, Turnkey Projects, and Video and Cyber Security. The company offers perimeter security products that enable customers to monitor, limit, and control access by unauthorized personnel to specific regions or areas. Its perimeter security systems include fence mounted detection systems; detection grids, gates, and fences to protect water passages, VIP residences, and other outdoor applications; buried sensors; hybrid perimeter intrusion detection and intelligent lighting systems; electrical field disturbance sensors; and microwave sensors. The company also provides integrated intelligent video management solutions for security surveillance and business intelligence applications; and cyber-security products for monitoring, securing, and the active management of wired, wireless, and fiber optic communication networks, as well as turnkey solutions. In addition, it offers RoboGuard, a platform that runs on a rail along the perimeter of protected sites; and life safety/duress alarm products to protect personnel in prisons. Further, the company provides MTC-1500I, a dual technology outdoor surveillance system; Fortis4G, a fourth generation command and control system; StarNet 2, a security management system; and Network Manager, a middleware package. Its products are used to protect national borders, military bases, power plants, airports, sea ports, postal facilities, prisons, banks, retail operations, hospitals, municipal security, sporting events, and industrial locations from terrorism, theft, and other security threats. The company sells its products through system integrators and distribution channels. Magal Security Systems Ltd. was founded in 1965 and is headquartered in Yehud, Israel. <<<
>>> Evolus, Inc. (EOLS) provides medical aesthetic products for physicians and their patients in the United States. It offers DWP-450, an injectable 900 kilodalton botulinum toxin type A complex designed to address the needs of the facial aesthetics market. The company was founded in 2012 and is headquartered in Irvine, California. <<< (Dew)
SenesTech - >>> ContraPest® Market Reach Expanded With the Removal of "Restricted Use Only" From the Label
Oct 18, 2018
Market Watch
https://www.marketwatch.com/press-release/contrapest-market-reach-expanded-with-the-removal-of-restricted-use-only-from-the-label-2018-10-18?siteid=bigcharts&dist=bigcharts
FLAGSTAFF, Ariz., Oct. 18, 2018 /PRNewswire/ -- SenesTech, Inc. SNES, +1.25% a developer of proprietary technologies for managing rat populations through fertility control, today announced that the U.S. Environmental Protection Agency has approved the removal of "Restricted Use Only" from the label of ContraPest [®] , a rat fertility control bait.
"Our planned market evolution of ContraPest involved the initial deployment of the product by applicators licensed for Restricted Use products. After 2 years of selling effort and early deployment the 'voice of our customer' became that an RUP label was cumbersome and inexplicable due to its safety profile. Approximately 30-50% of PMPs initially approached would not use Restricted Use Pesticides as a matter of policy and/or practice. We intend to improve our market potential immediately via this label improvement," said Dr. Loretta P. Mayer, SenesTech's CEO and co-Founder.
A Restricted Use Pesticide (RUP), requires the need for applicator expertise to deploy and service the product. As a result, a pest management professional (PMP), in many states, must be specially licensed for Restricted Use Pesticides, and is subject to additional regulations.
Dr. Mayer continued, "As one national PMP explicitly stated, 'We would immediately deploy ContraPest if it were not a Restricted Use Product.' Furthermore, this will now allow us to serve additional markets and larger corporate and national accounts that are asking for a less restricted use product."
The ContraPest label will now include a statement, "Intended for Professional Use Only," reflecting SenesTech's belief that ContraPest is best used as part of integrated pest management.
With this EPA approval, the Company now intends to seek state approvals of the new label.
About ContraPest
ContraPest [®] is an innovative technology that targets the reproductive capabilities of Norway and roof rats. As a highly palatable liquid, the formulation promotes sustained consumption, helping to reduce fertility in both male and female rats, bringing populations down and keeping them down. Our delivery system is designed to minimize handler exposure, and ContraPest is dispensed inside tamper resistant bait stations, minimizing the risks to non-target species.
As a versatile tool, ContraPest can be used within Integrated Pest Management (IPM) programs to help reduce reproduction and magnify the success of IPM protocols or as a standalone, non-lethal solution for customers that are looking to reduce or eliminate the use of lethal methodologies.
Please read and follow all label instructions. Target species: Norway and roof rats.
About SenesTech
SenesTech has developed and is in the process of commercializing a proprietary technology for managing animal pest populations, primarily rat populations, through fertility control. For more information visit the SenesTech website at www.senestech.com.
<<<
SNES related - >>> Chicago named 'rat capital' of the country amid rodent complaint spike
By Travis Fedschun
Fox News
7-22-18
http://www.foxnews.com/us/2018/07/22/chicago-named-rat-capital-country-amid-rodent-complaint-spike.html
Chicago logged over 50,000 rat-related complaints last year, according to data reviewed by Renthop.
New York is apparently no longer the big cheese.
The Second City has been dubbed the "rat capital" of America according to apartment search service RentHop, which said Chicago had the highest amount of rat-related complaints of four major U.S. cities.
The data compiled by the website showed that there were more than 50,000 rat-related complaints in 2017, which is a 55 percent increase since 2014.
"The abundance of garbage and buildings in The Windy City makes it a great location for these rats to seek shelter and food for survival," according to RentHop. "The presence of these furry critters poses a threat to city dwellers due to the fact that they are capable of spreading diseases and cause allergic reactions to humans and animals."
"Most of the neighborhoods with a higher concentration of rat complaints coincide with the neighborhoods with a higher concentration of dog poop," according to the website.
Tourists visiting Chicago may avoid watching the scurrying pests, as neighborhoods in the downtown area such as The Loop, Gold Coast and River North logged fewer complaints.
Compared to four other cities were RentHop operates -- New York; Washington, D.C.; and Boston -- Chicago topped the total amount of rat complaints year-round with nearly 51,000.
The worst neighborhoods in the Chicago were Logan Square, Englewood and West Ridge.
The Chicago Department of Streets and Sanitation told the Chicago Tribune the agency received 42,670 requests for rodent abatement from residents in 2017. Agency officials told the paper the lower number was after duplicate complaints, and a number of "proactive rodent abatement" cases undertaken by the department.
“Rodent complaints are not an accurate indicator of the rat population in an area; however, they do show that Chicagoans care about the health and safety of their communities,” Streets and Sanitation Spokeswoman Marjani Williams told The Tribune. “(Streets and Sanitation) encourages residents to report rodent activity to 311 so that our crews can quickly investigate and address every sighting.”
Williams added that the department conducts preventive baiting, and began a pilot program to place dry ice into rodent burrows in parks or other green spaces to suffocate rats.
<<<
SenesTech - >>> Roth Capital Reiterates Buy on SenesTech, Inc. (SNES) as California Approves ContraPest
May 22, 2018
https://www.streetinsider.com/Analyst+Comments/Roth+Capital+Reiterates+Buy+on+SenesTech%2C+Inc.+%28SNES%29+as+California+Approves+ContraPest/14224150.html
Roth Capital reiterated al Buy rating and $3.75 price target on SenesTech (NASDAQ: SNES) as California is set to approve ContraPest which opens a large environmentally focused market, where there is likely a subset of customers focused on the environmental aspects of the Product. After approval, SNES will be allowed to market at trade shows and advertise where appropriate within the state.
Roth Capital updated their estimates to reflect a slower ramp than the original model. 2018 revenue is now $3.1mm and 2019 revenue estimate is $17.5mm. Estimated EBITDA is ($4.4mm) and $4.4mm for 2018 and 2019.
<<<
>>> Lightwave Logic, Inc. (LWLG), a technology company, focuses on the development of photonic devices and non-linear optical polymer materials systems for the fiber-optic data communications and optical computing markets in the United States. It operates through two segments, Materials Development, and Prototype Device Design and Development. The Materials Development segment is involved in designing and synthesizing organic chromophores for use in its electro-optic polymer systems and photonic device designs. The Prototype Device Design and Development segment offers Electro-optic Modulators, which converts data from electric signals to optical signals that can then be transmitted over fiber-optic cables; and Polymer Photonic Integrated Circuits, a photonic device, which integrates various photonic functions on a single chip. The company is also developing the Ridge Waveguide modulator, a type of modulator that fabricates the waveguide within a layer of its electro-optic polymer systems. It intends to sells its products to electro-optic device manufacturers, such as telecommunications component and systems manufacturers, networking and switching suppliers, semiconductor and aerospace companies, and government agencies. The company was formerly known as Third-order Nanotechnologies, Inc. and changed its name to Lightwave Logic, Inc. in March 2008. Lightwave Logic, Inc. was founded in 1991 and is headquartered in Englewood, Colorado. <<<
SenesTech - >>> EPA Approves Label Change That Expands Use of SenesTech's ContraPest in Feedlots
http://senestech.investorroom.com/2018-01-08-EPA-Approves-Label-Change-That-Expands-Use-of-SenesTechs-ContraPest-in-Feedlots
FLAGSTAFF, Ariz., Jan. 8, 2018 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES) announced today that the U. S. Environmental Protection Agency (EPA) has approved a label change for ContraPest®, SenesTech's innovative product for controlling rodent infestations through fertility control. This label change expands the areas and circumstances under which ContraPest® may be used, including the use in feedlots and other agricultural settings with man-made structures.
SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.
"Together with our existing approved usage, including indoor non-food areas, this extends our ability to serve the pest management professional, who can now deploy ContraPest® around the perimeter of any man-made structure, not just buildings.
This is essential to our ability to serve feedlots, protein production facilities and many other agricultural settings that so urgently are seeking sustainable and effective alternatives to poisons," said Dr. Loretta P. Mayer, SenesTech's co-founder and CEO.
Dr. Mayer continued, "Nationwide, the USDA reports there are more than 2,000 cattle feedlots with over 1,000 head per feedlot. We hear that rat infestations cause a 10-20% reduction in yield or profit, and further that existing strategies are not effective. We believe this represents a clear value statement for the deployment of ContraPest®. While the cost of a ContraPest® deployment might cost from $100,000 to $800,000 per year, the yield improvement and cost savings to the customer might be in the millions."
"Specifically, within SenesTech's home state of Arizona," Mayer continued, "the Department of Agriculture has confirmed that ContraPest® is now allowable for use in the feed yards when used according to the label instructions. In Arizona alone, there are over 80 feedlots, for which we have dedicated a sales executive, and have begun responding to this new demand with proposals."
About SenesTech
SenesTech has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach.
ContraPest's novel technology and approach targets the reproductive capabilities of both sexes in rat populations, inducing egg loss in female rats and impairing sperm development in males. Using a proprietary bait delivery method, ContraPest® is dispensed in a highly palatable liquid formulation that promotes sustained consumption by rat communities. ContraPest® is designed, formulated and dispensed to be low hazard for handlers and non-target species such as wildlife, livestock and pets, where the active ingredients break down rapidly, unlike rodenticides. In contrast, the historical approach to managing rat pest populations, rodenticides, carries a high risk of environmental contamination and the poisoning of non-target animals, pets and children. ContraPest® is a Restricted Use product.
We believe our innovative non-lethal approach, targeting reproduction, is more humane, less harmful to the environment, and more effective in providing a sustainable solution to pest infestations than traditional lethal pest management methods. We believe ContraPest® will establish a new paradigm in rodent control, resulting in improved performance in rodent control over rodenticides, without the negative environmental effects of rodenticides. For more information visit the SenesTech website at www.senestech.com.
<<<
>>> Innovation Pharmaceuticals Inc.(IPIX), a clinical stage biopharmaceutical company, develops small molecule therapies to treat cancer, antibiotics, and inflammatory disease. The company focuses on the development of compounds, including Prurisol, an anti-psoriasis drug candidate that is in Phase II clinical trial; Brilacidin, an antibiotic candidate for the treatment of acute bacterial skin and skin structure infection, oral mucositis, and inflammatory bowel disease, and ulcerative proctitis; and Kevetrin, an anti-cancer compound that has completed Phase I clinical trial. In addition, the company owns compounds, such as KM 391 for the treatment of autism; KM 277 to treat arthritis; KM 278 for the treatment of asthma; KM 362 to treat MS/ALS/Parkinson's disease; KM-3174 for the treatment of cancer; and KM-732 for hypertensive emergency. The company was formerly known as Cellceutix Corporation and changed its name to Innovation Pharmaceuticals Inc. Innovation Pharmaceuticals Inc. was founded in 2007 and is headquartered in Beverly, Massachusetts. <<<
>>> Reed's, Inc. develops, manufactures, markets, and sells natural hand-crafted beverages and candies in the United States, Canada, Asia, Europe, Australia, and South America. Its products include Reed's ginger beers; Virgil's root beer and cream sodas; Flying Cauldron Butterscotch Beer; and Sonoma Sparkler branded sparkling juices. The company also provides private label products. Reed's, Inc. sells its products to specialty gourmet, natural food stores, retail stores, convenience stores, and restaurants through distributors and independent distributor partners, as well as directly. The company was formerly known as Original Beverage Corporation and changed its name to Reed's, Inc. in 2001. Reed's, Inc. was founded in 1987 and is based in Los Angeles, California. <<<
>>> SenesTech, Inc. develops a technology for managing animal pest populations through fertility control. The company focuses on commercializing ContraPest, a fertility control product for use in controlling rat populations. It is also developing a pipeline of fertility control and animal health products, including feral animal fertility control, non-surgical spay and neutering, boar taint, and animal cancer treatment. The company was founded in 2004 and is headquartered in Flagstaff, Arizona. <<<
>>> Arrayit Corporation (ARYC), a life sciences technology company, develops, manufactures, and markets life science tools and integrated systems for the analysis of genetic variation, biological function, and diagnostics worldwide. The company is involved in the development and support of microarray tools and components; custom printing and analysis of microarrays for research; and the identification and development of diagnostic microarrays and tools for early detection of treatable disease states. It offers microarray printing technology, which allows the manufacture of DNA, protein, antibody, lipid, carbohydrate, and other types of microarrays for research and diagnostic applications, including gene expression, genotyping, protein profiling, and others. The company also provides automated microarray manufacturing instruments, including NanoPrint, SpotBot Titan, SpotBot Extreme, SpotBo Protein, and Personal microarrayers, as well as SpotLight CCD fluorescence scanners, SpotWare colorimetric scanners, InnoScan laser scanners, TrayMix hybridization stations, ArrayMix hybridization stations, centrifuges, air jets, vacuum products, and laboratory tools and bioinformatics computers. In addition, it manufactures consumables, such as glass substrates and slides, reagents, solutions, kits, and clean room supplies; and provides variation identification platform technology that allows diagnostic tests to be performed by depositing approximately 100,000 patient samples onto a single microarray. Further, the company is involved in the import, export, manufacture, and distribution of wholesale industrial chemicals. Arrayit Corporation offers its tools and services to genomic research centers, pharmaceutical companies, academic institutions, clinical research organizations, government agencies, and biotechnology companies. The company is headquartered in Sunnyvale, California. <<<
>>> SolarWindow Technologies, Inc. develops electricity-generating systems using see-through glass windows and flexible plastic products. It engages in developing SolarWindow electricity-generating systems that harvest light energy from the sun and artificial sources using a coating of organic photovoltaic solar cell. The company is also involved in developing -
SolarWindow Commercial, a flat glass product for installation in new commercial towers under construction and replacement windows;
SolarWindow Structural Glass, a structural glass wall and curtain for tall structures;
SolarWindow Architectural Glass, a textured and decorative interior glass walls, room dividers, etc.; and
SolarWindow Residential, a window glass for installation in new residential homes under construction and replacement windows. In addition, it engages in developing
SolarWindow Flex, a flexible film, which is applied directly onto glass for retrofit to existing commercial towers, buildings, and residential homes;
SolarWindow BIPV components associated with BIPV applications in homes, buildings, and office towers; and
SolarWindow Retrofit Veneer, a transparent, tinted, and flexible veneer that installers can apply directly over top of existing windows.
The company was formerly known as New Energy Technologies, Inc. and changed its name to SolarWindow Technologies, Inc. in March 2015. SolarWindow Technologies, Inc. was founded in 1998 and is based in Columbia, Maryland. <<<
>>> Crown Crafts, Inc. operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc., Hamco, Inc. and Carousel Designs, LLC, in the infant and toddler products segment within the consumer products industry. The Company operates though the segment of infant and toddler products. These products consist of infant and toddler bedding, bibs, soft bath products, disposable products and accessories. Its focus is on infant, toddler and juvenile products, including crib; blankets and swaddle blankets; nursery and toddler accessories; room decor; reusable and disposable bibs; hooded bath towels and washcloths; reusable and disposable placemats and floor mats; disposable cup labels, toilet seat covers and changing mats, and other infant, toddler and juvenile soft goods. Sales of its products are made directly to retailers, which are mass merchants, juvenile specialty stores, value channel stores, grocery and drug stores, restaurants, Internet accounts and wholesale clubs. <<<
>>> Air T, Inc. is a holding company. The Company operates through five segments: overnight air cargo, ground equipment sales, ground support services, printing equipment and maintenance, and leasing. The company's overnight air cargo segment operates in the air express delivery services industry. The ground equipment sales segment manufactures and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, the United States military and industrial customers. The ground support services segment provides ground support equipment maintenance and facilities maintenance services to domestic airlines and aviation service providers. The printing equipment and maintenance segment designs, manufactures and sells advanced digital print production equipment, maintenance contracts, spare parts, supplies and consumable items for these systems. The Company's leasing segment provides funding for equipment leasing transactions. <<<
>>> On4 Communications Inc (ONCI), a development stage company, provides wireless communications services to telecommunication companies, consumers, and businesses. Its platform comprises global positioning system (GPS) device management, location-based services (LBS) capabilities, and the broadcasting of proprietary and non-proprietary content. The company intends to deliver LBS through two-way communication tracking devices with applications that track people, pets, assets, and inventory. Its solution platform integrates various location-aware devices, such as GPS receivers, as well as transmits data to a range of devices, including Web browsers, instant messengers, short message service/mail, and mobile phones. On4 Communications Inc. was founded in 2001 and is based in Los Angeles, California. On4 Communications, Inc. operates as a subsidiary of On4 Communications, Inc. (Canada). <<<
>>> Mazor Robotics Ltd., together with its subsidiaries, engages in the development, production, and marketing of medical devices for supporting surgical procedures in the fields of orthopedics and neurosurgery in the United States and internationally. The company operates in the field of image guided surgery and computer assisted surgery that enable the use of surgical instruments with high precision and minimal invasiveness. It offers Mazor X surgical guidance system and Renaissance surgical guidance system that transform spine surgery from freehand procedures to guided procedures. The company was formerly known as Mazor Surgical Technologies Ltd. and changed its name to Mazor Robotics Ltd. in 2010. Mazor Robotics Ltd. was founded in 2000 and is based in Caesarea, Israel. <<<
>>> Isramco, Inc., an independent oil and natural gas company, engages in the exploration, development, and production of oil and natural gas properties located onshore in the United States and offshore Israel. It operates through two segments, Exploration, Development, and Production; and Production Services. The Exploration, Development, and Production segment owns working interests in oil and gas wells in Louisiana, Texas, New Mexico, Oklahoma, Wyoming, Utah, and Colorado; and operates approximately 515 producing wells located primarily in Texas and New Mexico. It also has overriding royalty interests in the Tamar Field located offshore Israel. This segment sells its oil and natural gas to independent marketers, oil and natural gas companies, and gas pipeline companies. The Production Services segment operates a fleet of well servicing rigs and trucks that provide a range of production services, including completion of newly-drilled wells; maintenance and workover of existing wells; fluid transportation; and related oilfield services, as well as plugging and abandonment of wells to oil and gas exploration and production companies. As of December 31, 2015, the company?s estimated total proved oil, natural gas reserves, and natural gas liquids were approximately 36,220 thousand barrels of oil equivalent comprising 1,884 thousand barrels (MBbls) of oil; 200,692 million cubic feet of natural gas; and 887 MBbls of natural gas liquids. It also had 33 production servicing rigs that operated primarily in Texas and New Mexico. Isramco, Inc. was founded in 1982 and is based in Houston, Texas. <<<
>>> Reed's Inc. Announces Second Quarter Results
August 04, 2016
http://finance.yahoo.com/news/reeds-inc-announces-second-quarter-200500138.html
LOS ANGELES, Aug. 04, 2016 (GLOBE NEWSWIRE) -- Reed's, Inc. (NYSE MKT:REED), maker of the top-selling sodas in natural food stores nationwide, today announced the financial results for its fiscal second quarter ending June 30, 2016.
Financial Highlights for Second Quarter 2016 versus Second Quarter 2015
•Second quarter net sales decreased from $12.2 million to $11.0 million
•Gross margin improved 500 basis points to 24% versus 19%
•Operating expenses decreased 28% driven by delivery expenses down 26%, sales expenses down 29% and general and administrative expenses down 30%
•Operating loss narrowed by 30% to $349,000 versus $493,000
•Shareholder equity has increased to $1,082,000 as compared to $785,000 at year end 2015
•Working capital increased $1,862,000 to $1,216,000 at quarter end as compared to ($646,000) at March 31, 2016
•All debt maturities were extended until Q4 2017
•Trailing twelve-month Idle Plant costs decreased $1.2 million to 3.8% of sales versus 5.8%
•EBITDA continues to be positive for the year at $5,000
Operational Highlights
•In stock order fill rate increased to 98.9% this year as compared to a low point of 58.8% during last year’s supply chain issues
•L.A. Plant achieved level 2 SQF re-certification for the second year scoring 95 points versus 86 points in the prior year. This is an important differentiation certification for private label production
•L.A. Plant equipment installation will occur during the months of November and December
Marketing Highlights:
•Retail sales of Reed’s all-natural Bag in Box fountain soda will begin selling in a select store trial through one of the largest fast casual restaurant chains in the US in Q3
•Reed’s Partnered with Dari Farms Distribution of New England
•Stronger Ginger Brew authorized in 1,600+ Kroger stores and Kroger banners across the U.S.
•Reed’s partnered with Pure Beverage and Zink Distributing in Indiana to complete coverage for entire state
•Reed’s and Virgil’s now available at 350+ Shopko locations throughout the Midwest, West and Pacific North West regions
•Chris Reed was a panel member at Maxim Groups Health and Wellness summit in New York
•Reed’s demonstrated its new Bag in Box fountain at the National Restaurant Association tradeshow in Chicago
•Reed’s attends the Summer Fancy Food Show in New York City
Chris Reed, Founder and CEO of Reed’s, Inc. commented, "We continue to see recovery in the marketplace from our supply chain issues of last year. Our delivery fill rate was as low as 58.8% last year, and now we are filling our orders at almost 100%. Demand for our brands continues to build as we open new markets and retailers across the country and re-introduce our products to those retailers affected by last year’s supply issues. Our recovery is fastest with our top product lines, Reed’s Ginger Brews and our Virgil’s Natural Sodas.
Progress with the development and rollout of our new all natural fountain sodas continues successfully, and our new flavors are scheduled to be test marketed with one of the largest fast casual chains in the country during the third quarter.
In the face of lower volumes, we showed significant discipline in our ability to control expenses during the second quarter. As our volume improves in the second half of the year, these disciplines will contribute to our bottom line improvement. Margin had been under pressure due to the supply chain issues faced last year that caused our tight cash situation. Margins should continue to improve as a result of our improved cash position, which is improving our purchasing and sourcing abilities. We also expect improvements in production efficiencies from our Los Angeles plant expansion that is anticipated to be up and running by year end.”
Dan Miles, Chief Financial Officer of Reeds’ Inc. stated, “We see margin growth opportunities as we maintain our cost containment initiatives in sales, general and administrative, and operational areas. We believe that we will achieve positive cash flow for the balance of the year as we continue to work on improving operating efficiencies while generating sales growth during the remainder of the peak summer selling season.”
The Company will conduct a conference call at 4:30 PM EDT on August 4th to discuss its 2016 fiscal second quarter results. To participate in the call, please dial the following number 5 to 10 minutes prior to the scheduled call time:
Domestic callers should dial 877-246-4118
International callers should dial +1 212-231-2904
A replay of the call will be available by the following day in the investor relations section of the Company's website at: http://www.reedsinc.com/investors/.
About Reed's, Inc.
Reed's, Inc. makes the top-selling sodas in the natural and specialty foods industry and are sold in over 15,000 natural and mainstream supermarkets nationwide. Reed's products are sold through an additional estimated 40,000 accounts that include specialty gourmet, natural food stores, retail stores, convenience stores and restaurants nationwide and in select international markets. Reed’s has sold over 500 million bottles since inception in June 1989 and is considered the leader of the fast growing craft soda category. Its seven award-winning non-alcoholic Ginger Brews are unique in the beverage industry, being brewed, not manufactured and using fresh ginger, spices and fruits in a brewing process that predates commercial soft drinks. The Company owns the top-selling root beer line in natural foods, the Virgil's Root Beer product line, and a top-selling cola line in natural foods, the China Cola product line. In 2012, the Company launched its Reed's Culture Club Kombucha line of organic live beverages. Other product lines include Reed's Ginger Candies and Reed's Ginger Ice Creams.
<<<
Isramco - >>> Israeli group finds signs of large east Mediterranean gas field
January 17, 2016
http://finance.yahoo.com/news/israeli-group-finds-signs-large-104318132.html
By Ari Rabinovitch
JERUSALEM, Jan 17 (Reuters) - An Israeli exploration group has discovered signs of another large natural gas field off Israel's coast, it said on Sunday.
A number of the world's biggest gas deposits have been found offshore Israel, Egypt and Cyprus in recent years, and oil and gas companies have been spending money to find more.
A group lead by Isramco Negev and Modiin Energy said a resource report showed there could be an estimated total of 8.9 trillion cubic feet (tcf) of natural gas at the Daniel East and West fields.
"Gas reserves of this size could significantly change the Israeli gas market," said Tzahi Sultan, one of the owners of Modiin, whose shares soared 479 percent after the announcement.
Israeli Energy Minister Yuval Steinitz has said experts estimate there are between 10,000 and 15,000 billion cubic metres (bcm) of gas in the east Mediterranean basin that includes Israel, Egypt and Cyprus -- enough to supply domestic needs as well as Europe.
Isramco, which already has a stake in a second gas field of a similar size, Tamar, was trading up 7.2 percent.
The government has been under pressure from regulators, lawmakers and the public to open the sector to competition. The new field, if confirmed, will do that.
Until now the sector has been dominated by a partnership of Noble Energy and Delek Group, which controls both Tamar and the much larger Leviathan fields.
The resource report gave a "best estimate" for the Daniel East field of 1.1 tcf of gas with a probability for success of 38 to 43 percent. For Daniel West it gave 7.8 tcf with a probability for success of 24 to 57 percent.
Isramco owns a 75 percent stake in the Daniel licenses and Modiin has a 15 percent stake. The companies ATP Oil and Gas and AGR each have a 5 percent share.
<<<
>>> Reed’s, Inc. Announces NYSE Exchange Letter on Failure to Satisfy Continued Listing Standards
http://finance.yahoo.com/news/reed-inc-announces-nyse-exchange-200000383.html
LOS ANGELES, June 28, 2016 (GLOBE NEWSWIRE) -- Reed’s, Inc. (REED), maker of the top-selling sodas in natural food stores nationwide, announced today that it has received a letter from the NYSE listing compliance department advising that the company is not currently satisfying the listing requirements in Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the NYSE MKT Company Guide. The company has 18 months to regain compliance, contingent on submission by the company and acceptance by the NYSE of a plan to meet the listing requirements. The company must submit the plan by July 22nd.
Chris Reed, CEO and Founder of Reed’s, Inc. commented, “We have maintained our listing on the NYSE MKT due to our market capitalization above $50 million. Since our market capitalization has fallen below this threshold, we must now meet additional requirements. The company continues to recover from the supply chain issues of 2015 that have affected our business and subsequently our stock price. We have every confidence that now that our supply chain issues are behind us and we are experiencing a recovery of forward momentum that investors will respond positively to our stock long before the 18 month deadline to comply is reached. Possible back up plan to a simple recovery of our stock price and market capitalization, is raising money to meet alternative listing standards of stockholder equity. We do not anticipate the need to follow this route. There are a number of very exciting developments in the company, including the company’s launch of the first natural soda fountain products, that we expect to have a significant impact on the company’s long term prospects. We remain exciting about our future and see daily improvements in our business. Things keep getting better at Reed’s.”
About Reed’s, Inc.
Reed’s, Inc. makes the top-selling sodas in the natural and specialty foods industry and are sold in over 15,000 natural and mainstream supermarkets nationwide. Reed’s products are sold through an additional estimated 40,000 accounts that include specialty gourmet, natural food stores, retail stores, convenience stores and restaurants nationwide and in select international markets. Reed’s has sold over 500 million bottles since inception in June 1989 and is considered the leader of the fast growing craft soda category. Its seven award-winning non-alcoholic Ginger Brews are unique in the beverage industry, being brewed, not manufactured and using fresh ginger, spices and fruits in a brewing process that predates commercial soft drinks. The company owns the top-selling root beer line in natural foods, the Virgil’s Root Beer product line, and a top-selling cola line in natural foods, the China Cola product line. In 2012, the company launched its Reed’s Culture Club Kombucha line of organic live beverages. Other product lines include Reed’s Ginger Candies and Reed’s Ginger Ice Creams.
<<<
Capital Senior Living -- >>> How Hedge Funds Are Positioned in Long-Term Care Providers
June 13, 2016
by Raymond Jones
http://www.insidermonkey.com/blog/how-hedge-funds-are-positioned-in-long-term-care-providers-457935/
It is a well-known fact that the rapid advancement in medical sciences is pushing up life expectancy every year. This increase in life expectancy over the years has caused the demand for long-term care facilities to grow at a rapid pace and experts believe that this demand will only continue to rise in the future. Since most of the companies that cater in this space operate a chain of senior living residences and assisted living facilities, their cash flows are generally very stable. This stable cash flow along with the valuable real estate they sit on make long-term care providers highly attractive to both value-focused and fixed-income investors. Taking that into account, in this post, we will take a look at five leading stocks from the long-term care space and discuss what hedge funds covered by us thought about them heading into the second quarter.
Through extensive research, we determined that imitating some of the picks of hedge funds and other institutional investors can help generate market-beating returns over the long run. The key is to focus on the small-cap picks of these investors, since they are usually less followed by the broader market and are less price-efficient. Our backtests that covered the period between 1999 and 2012, showed that following the 15 most popular small-caps among hedge funds can help a retail investor beat the market by an average of 95 basis points per month (see more details here).
#5 Press Ganey Holdings Inc (NYSE:PGND)
– Investors with long positions (as of March 31): 10
– Aggregate value of investors’ holdings (as of March 31): $46.5 million
Let’s start with Press Ganey Holdings Inc (NYSE:PGND), which is the only stock in this list that boasts notable gains this year, of 18%. During the first quarter, the number of hedge funds covered by us long Press Ganey Holdings Inc (NYSE:PGND) inched down by one and the aggregate value of their holdings fell by 7%. The patient experience and caregiver measurement provider had its IPO last year in June and since then its stock has appreciated by nearly 38% from its IPO price of $25. On May 3, the company reported its fiscal 2016 first quarter numbers, declaring EPS of $0.14 on revenue of $86.70 million versus analysts’ projection of EPS of $0.25 on revenue of $83.54 million. On May 22, analysts at KeyBanc reiterated their ‘Buy’ rating on the stock.
#4 Capital Senior Living Corporation (NYSE:CSU)
– Investors with long positions (as of March 31): 16
– Aggregate value of investors’ holdings (as of March 31): $172.46 million
Capital Senior Living Corporation (NYSE:CSU) saw a major drop in its popularity among hedge funds during the first quarter with the ownership of the company among funds covered by us declining by five and the aggregate value of their holdings in it shrinking by $11.2 million. Funds that upped their stake in the company during that period included George McCabe’s Portolan Capital Management, which increased its holding by 39% to 822,506 shares. On May 22, the company announced that it has reached an agreement with activist investor Lucus Advisors LLC in connection with Capital Senior Living Corporation’s 2016 annual meeting of stockholders. Under the terms of the agreement Capital Senior Living Corporation will be appointing a new independent board member in consultation with Lucas and the activist firm will have an option to propose up to two candidates for this position, who will be given due consideration by the company’s Board. The agreement also includes customary standstill and voting commitments.
#3 Kindred Healthcare, Inc. (NYSE:KND)
– Investors with long positions (as of March 31): 24
– Aggregate value of investors’ holdings (as of March 31): $252.65 million
Apart from Press Ganey Holdings Inc, Kindred Healthcare, Inc. (NYSE:KND) is the only stock in this list that is trading in the green for 2016, albeit marginally by only 2.19%. The number of hedge funds covered by us with long positions in Kindred Healthcare, Inc. (NYSE:KND) remained unchanged during the first quarter, however, the aggregate value of their holdings in the company suffered a drop of almost 20% during the same period. Kindred Healthcare’s stock suffered a significant loss last month after a federal judge deemed the act of spending money to reimburse health insurers by the Obama administration as unconstitutional on May 12. Following better-than-expected first quarter numbers released by the company on May 5, analysts at Mizuho reiterated their ‘Neutral’ rating on the stock, but upped their price target to $13.50 from $9. Clint Carlson‘s Carlson Capital brought down its holding in Kindred Healthcare by 11% to 4.2 million shares during the first quarter.
#2 Envision Healthcare Holdings Inc (NYSE:EVHC)
– Investors with long positions (as of March 31): 32
– Aggregate value of investors’ holdings (as of March 31): $835.4 million
Moving on, Envision Healthcare Holdings Inc (NYSE:EVHC) was another stock whose ownership among funds covered by us remained unchanged, but the aggregate value of their holdings in it dropped during the first quarter, by $206 million. Funds that reduced their stake in Envision Healthcare Holdings Inc (NYSE:EVHC) during the first quarter included billionaire Andreas Halvorsen‘s Viking Global, which brought its holding down by 35% to 5.12 million shares. Though the shares of Envision Healthcare Holdings have gained around 6.50% so far in 2016, they have lost around 40% of their value since August last year, when they reached their lifetime high of $45.95. The 19 leading analysts on Wall Street who track the stock, currently have a consensus ‘Buy’ rating and an average price target of $31 on it, which represents a potential upside of around 25% from the stock’s current trading price.
#1 Brookdale Senior Living, Inc. (NYSE:BKD)
– Investors with long positions (as of March 31): 45
– Aggregate value of investors’ holdings (as of March 31): $1.15 billion
Despite the number of hedge funds covered by us with long positions in the company coming down by 12 and the aggregate
value of their holdings in it dropping by $360 million during the first quarter, Brookdale Senior Living, Inc. (NYSE:BKD) continued to remain the most popular long-term care facility stock among funds we track at the end of that period. One of the main reasons behind the company losing its appeal to large investors has been its consistently declining stock price. After losing almost half of its market capitalization last year, Brookdale Senior Living, Inc. (NYSE:BKD)’s continued its downward trajectory in the first quarter of this year and even though it has recovered somewhat from those declines it is still trading down by 9.5% year-to-date. This decline in the stock has led several analysts to reduce their price target on the stock, including analysts at Barclays, who on June 1, lowered it to $21 from $28 while keeping their rating on the stock unchanged at ‘Equal Weight’. Clifford Fox’s‘ Columbus Circle Investors was one of the hedge funds that sold its entire stake in Brookdale Senior Living during the January-March period.
<<<
Calavo -- >>> Avocado Grower Has One Influential Insider Sell Massive Block of Shares
April 19, 2016
by Gene Guzun
http://www.insidermonkey.com/blog/greenbrier-companies-inc-gbx-registers-cluster-of-insider-selling-while-top-execs-sell-shares-of-cavco-cvco-and-calavo-cvgw-444291/2/
Avocado Grower Has One Influential Insider Sell Massive Block of Shares
Calavo Growers Inc. (NASDAQ:CVGW) also had one of its most influential executives sell shares last week. President and Chief Operating Officer Kenneth J. Catchot discarded 14,666 shares on Thursday and 30,334 shares on Friday at prices between $55.02 and $56.41 per share, which trimmed his overall holding to 471,472 shares. Calavo Growers is a key player in the avocado industry, marketing and distributing avocados, prepared avocados, and other perishable foods to food distributors, supermarkets, and restaurants. The company conducts its business operations through three business segments: Fresh products; Calavo Foods; and RFG. The Fresh products segment involves the distribution of avocados and other fresh produce products. The Calavo Foods segment involves the purchasing, manufacturing and distribution of prepared products such as guacamole and salsa, while the RFG segment includes the manufacturing and distribution of fresh-cut fruit, ready-to-eat vegetables, recipe-ready vegetables, and deli products.
Calavo Growers reported net sales of $204.58 million for the first quarter of fiscal year 2016 that ended January 31, an increase of 5% year-over-year due to higher sales in all three segments. The largest percentage increase in sales was registered by the RFG segment (which accounted for 37% of net revenue in the quarter), which was driven by higher sales from deli products, vegetables platters and cut fruit. Fresh product sales, which accounted for 55% of net sales in the fiscal first quarter, increased by 1.3% year-over-year due to increased sales of tomatoes, which was partially offset by a decrease in the sales of Mexican- and California-sourced avocados. Meanwhile, Calavo Foods’ sales, which made up approximately 8% of Calavo Growers’ net sales, increased by 5.9% year-over-year due to higher sales of salsa and guacamole products. The Company’s management anticipates each segment to experience double-digit margin expansion for fiscal year 2016, saying that Calavo Growers will report record revenue and earnings per share for the fiscal year.
Shares of Calavo have advanced by 169% in the past five years and are 15% in the green year-to-date, so the COO might have decided to take some profits off the table to diversify his holdings. The stock is priced at around 25.3-times expected earnings, above the forward P/E multiple of 18.8 for the NASDAQ 100 benchmark. The smart money sentiment towards the avocado grower declined notably in the December quarter, with the number of money managers invested in the company shrinking to 11 from 18 quarter-over-quarter. Steve Cohen’s Point72 Asset Management had 136,900 shares of Calavo Growers Inc. (NASDAQ:CVGW) in its equity portfolio at the end of December.
<<<
>>> Air T, Inc., through its subsidiaries, provides overnight air cargo, ground equipment sales, and ground support services in the United States and internationally. The company?s Overnight Air Cargo segment offers small package overnight airfreight delivery services on a contract basis to the air express delivery services industry. As of March 31, 2015, this segment had approximately 79 aircraft under agreement with FedEx in the United States and the Caribbean. Its Ground Equipment Sales segment manufactures, sells, and services aircraft deicers and other ground support equipment, including aircraft deicers, scissor-type lifts, military and civilian decontamination units, flight-line tow tractors, glycol recovery vehicles, and other special purpose mobile equipment. It offers its products to passenger and cargo airlines, ground handling companies, the United States Air Force, airports, and industrial customers. The company?s Ground Support Services segment provides aircraft ground support equipment, fleet, and facility maintenance services to airlines and aviation service providers. Air T, Inc. was founded in 1980 and is based in Maiden, North Carolina. <<<
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |