Retractable Technologies Inc (RVP)

[whytestocks]

News: $RVP Here's Why Retractable Technologies Is Skyrocketing 22% Today

Retractable Technologies   (NYSEMKT: RVP) shares are soaring 22% at 3:55 pm EST on Wednesday after announcing $53.6 million in U.S. government funding to increase syringe and needle manufacturing capacity to meet potential demand related to the COVID-19 coronavirus. The healthcare com...

Got this from RVP - Here's Why Retractable Technologies Is Skyrocketing 22% Today

[crudeoil24]

Vaccine may now be in a pill form. RIP, RVP.

[JJSeabrook]

Here's Why Retractable Technologies Is Skyrocketing 22% Today

The company's been awarded a multimillion-dollar government COVID-19 contract to expand production of needles and syringes.

What happened

Retractable Technologies (NYSEMKT:RVP) shares are soaring 22% at 3:55 pm EST on Wednesday after announcing $53.6 million in U.S. government funding to increase syringe and needle manufacturing capacity to meet potential demand related to the COVID-19 coronavirus. (Crudeoil, they need to increase capacity NOW! That's why it's not all going to get doled out over the 10 year period)

So what

The healthcare company, which manufacturers syringes and needles designed to improve patient safety, was awarded the contract on behalf of the Biomedical Advanced Research and Development Authority (BARDA). In exchange for the funding, Retractable Technologies will "increase its manufacturing capacity for hypodermic safety needles and corresponding syringes."

The U.S. government payments will be used to buy equipment and supplies necessary to ramp production, and the company has agreed to provide facilities, expertise, labor, and maintenance for equipment bought through this agreement for 10 years.

Previously, Retractable Technologies reported in May that future results "may be materially affected" by a $83.8 million order for automated retraction safety syringes from the U.S. Department of Health and Human Services on May 1. Management anticipates fulfilling this order during 2020 and 2021.

Now what

Needles and syringes are essential to patient diagnosis and treatment, and COVID-19's rapid spread has revealed capacity gaps that the U.S. government is attempting to fill via financing agreements like this one.

Retractable Technologies didn't disclose a timeline for this new funding, so investors will want to pay particular attention to its next quarterly update for insight. Nevertheless, these agreements are significant given Retractable Technologies revenue was just $11.2 million in the first quarter of 2020, up from $7.9 million in the same quarter last year.

Since the company's already profitable, with first-quarter net income of $322,773, up from a loss of $129,211 one year ago, this company is worth watching.

https://www.fool.com/investing/2020/07/08/heres-why-retractable-technologies-is-skyrocketing.aspx

[crudeoil24]

10 year term. RVP is not getting $53M check tomorrow. That money is spread out over 10 YEARS.

[JJSeabrook]

It doesn’t say it’s going to be paid out over 10 years. It says “RTI’s contributions under the terms of the TIA to enhance domestic capacity of pandemic essential technology include providing facilities, technical expertise, labor and maintenance of the TIA funded equipment for a 10 year term.”

[crudeoil24]

That $53M is over 10 years!

[JJSeabrook]

$53,664,286.00---Could bust $10.

[Enterprising Investor]

RTI Receives Government Funding to Expand Domestic Production (7/08/20)

Effective July 1, 2020, Retractable Technologies, Inc. (“RTI”) entered into a Technology Investment Agreement (“TIA”) with United States Government Department of Defense, U.S. Army Contracting Command-Aberdeen Proving Ground, Natick Contracting Division & Edgewood Contracting Division (ACC-APG, NCD & ECD) on behalf of the Biomedical Advanced Research and Development Authority (BARDA) (“Government”) for $53,664,286.00 in Government funding to RTI for expanding domestic production of needles and syringes. The principal purpose of the TIA is for Government investment to fund increasing RTI’s manufacturing capacity for hypodermic safety needles and corresponding syringes in response to the worldwide COVID-19 global pandemic. The Government award is an expenditure type TIA whereby the Government will make payments to RTI for expenditures for equipment and supplies made by RTI in carrying out the purpose of the expansion of RTI’s domestic production. RTI’s contributions under the terms of the TIA to enhance domestic capacity of pandemic essential technology include providing facilities, technical expertise, labor and maintenance of the TIA funded equipment for a 10 year term.

[JJSeabrook]

$7.84 and rippin and roarin. Just keeps on rockin!

[JJSeabrook]

10-Q OUT! READ THIS>>> On May 1, 2020, the Company was awarded a delivery order under an existing contract by the Department of Health and Human Services of the United States to supply automated retraction safety syringes. The total fixed price under the delivery order is $83,788,440. The existing contract was executed in September 2018, but the order placed on May 1, 2020 is unusually significant to the Company. The Company expects to increase both domestic and foreign production and add additional personnel in response to this material delivery order. The Company expects to perform under this delivery order during 2020 and a portion of 2021.

[fung_derf]

Lets try something different for a change. First you admit you screwed up back in ol' 2018, then we'll discuss your recent predictions.

[oilin07]

Keep checking

[fung_derf]

or you could just post whatever "important" post you feel proves your genius.
Since I went back to your very first post on this board, I'm not sure how to go back any further without a matrix blue pill.

[oilin07]

Keep going back and trying again

[fung_derf]

Since I read all your posts on this board, I'm not sure why. Maybe you should re-check

[oilin07]

Then you better recheck the posting history.

[fung_derf]

That's the thing about posting, your history sticks around. You were way wrong back in 2018. So why would anyone listen to you in 2020?

[oilin07]

Awesome brother!

[fung_derf]

Yeah, but you also said this...

oilin07
Saturday, 06/02/18 11:17:04 PM
Re: None
0
Post # of 315

Heading to $2

[oilin07]

To buy around $1.00

[elcheepo]

told us wat?

[oilin07]

Told ya all so

[JJSeabrook]

WOW! What an awesome week! She's set up for a clear blue sky breakout Monday! Looks like she may break that $5.50 high set in 2015.

Have a great weekend! HAPPY MOTHER'S DAY!!!

JJ

[JJSeabrook]

$5.34 HOD so far. Looking to break $5.50 high set in 2015.

[elcheepo]

I’m out
Doubled my cash !!

[JJSeabrook]

$5.19 and strong

[elcheepo]

Next leg up coming ?

[ClayTrader]

* * $RVP Video Chart 05-04-2020 * *

Link to Video - click here to watch the technical chart video

[elcheepo]

LOL... no sweat... and please don't sneeze

[Awl416]

Somewhat being sarcastic but didn’t really clarify it in my post

[elcheepo]

a 68% jump isn't something to sneeze at.

[JJSeabrook]

Hurry! Break that $5!!!

[Awl416]

That all the steam she got left in her?

[JJSeabrook]

8K out! Item 8.01 Other Events.



Retractable Technologies, Inc. (“Retractable”) announces that on May 1, 2020, it was awarded a delivery order under an existing contract by the Department of Health and Human Services to supply automated retraction safety syringes. The total fixed price under the delivery order is $83,788,439.80.



Forward-looking statements in this Form 8-K are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractable's current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ materially from such statements. Factors that could cause or contribute to such differences include, but are not limited to, Retractable’s ability to ramp up domestic production and staffing, Retractable’s ability to purchase additional raw materials and finished goods from its suppliers, transportation issues, potential tariffs, Retractable’s ability to maintain liquidity, maintenance of favorable third party manufacturing and supplier arrangements and relationships, foreign trade risk, and the impact of the global pandemic COVID-19 on all facets of logistics and operations as well as costs; and other risks and uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities and Exchange Commission. DATE

[fung_derf]

WOW! What a nice breakout on a flag formation. If I didn't dislike the company so much, I'd feel bad about leaving all that upside on the table.

[bUrRpPPP!]

$84M COVID Contract Awarded...link! Contracting Office Agency Name
OFFICE OF ASSISTANT SECRETARY FOR PREPAREDNESS AND RESPONSE



https://beta.sam.gov/awards/89884690%2BAWARD

[wesley_]

$4.08 nice

[fung_derf]

Dunno. But I've watched it for many years and looks like about every ten years like clockwork...

[elcheepo]

No sir, not a P&D, just crappy timing with the market being as shakey as it is right now. This would, and should, be valued much higher with the products

[nsomniyak]

RVP might have been over-extended last week, but it is not a pump and dump imho. The last set of financials RVP out were truly outstanding. Not P&D material.

[fung_derf]

Looks to me more like a P&D stock

[Boknows34]

Bought into this stock last week at $2.30...It's done nothing but go up...Even a blind squirrel finds a nut every now and then...When I looked at the numbers for RVP, it blew my mind...I immediately thought this is a hidden gem...Will keep an eye on it

[ClayTrader]

* * $RVP Video Chart 03-30-2020 * *

Link to Video - click here to watch the technical chart video

[JJSeabrook]

Well, it was unintentional but glad you made some!

[fung_derf]

OK, thanks. Either way, you helped me make money

[JJSeabrook]

I didn't go looking for it. I've held RVP for years and look here and the stocktwits board regularly. Just not that many posts on it on a normal basis. Most posts are related to Shaw buying more shares or preferred shares getting a dividend, at least since the court of appeals kicked our ass and reversed the judgment.

[fung_derf]

I'm just curious what made you go looking for it

[JJSeabrook]

Yes, I wasn't stating it as a FACT. I found that link posted on stocktwits this morning so I was simply sharing it. You note that I had a QUESTION MARK ???? After that $83M contract???? Just now had a chance to look at the market and this board again. I was shocked at how it ran and the volume! I didn't have time to research it so that's why I posted the link here with a ??????? so you guys might have time to run it down. Appeared legit, but I have no idea. Wasn't my intent to post it as a pump. I'm not a pumper. I agree that it's unconfirmed. I also don't know just exactly what it means myself, but it's a helluva big figure. LOL I've been so busy today that I'd actually kind of forgotten about making the post, but then I saw lots of email notifications where my post had been replied to on here. Gonna look on stocktwits now and see if anything else showed up there today.

JJ

[fung_derf]

OK. Honestly I'm not sure how to interpret this

Type of Amount 
 Current 
 Total 
 Action Obligation: 
 $0.00 
 $0.00 
 Base and All Options Value (Total Contract Value): 
 $0.00 
 $83,899,236.00 
 Total Estimated Order Value: 
 $83,899,236.00 
 N/A

[Zon4Ever]

You are seeing the Action Obligation, which you'd have to assume is what they'd be on the hook to get as a guarantee, but I can't be sure without speaking with them. Read the 10Q - nothing is mentioned other than they have enough inventory to fill demand, so there's no need to get excited over this.