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Sell the company to productive producers imo
Still no adventure unfortunately
Another example of people waiting for tax selling season to end to invest, lots of investment money was lost in Novemeber and December because of the delay that can’t be invested now, holiday sales would likely increase but investors still waited till 1/3/23 to invest, patience till new year was the better strategy but the stock deserved to go up before that which is the frustrating part.
Let’s not forget China’s infiltration of the US financial and regulatory system, spies deliberately destroying US tech companies with short selling allowance and market maker tactics like circuit breaker halts to the upside for some stocks but not others. China is attacking the United States with every passive form of warfare that it can since Trump declared a trade war against them, Xi’s response to Trump was that “they would fight until the last person”, and soon after Covid got released from Wuhan, Americans should not be naive, China iis currently engaging in total passive warfare and the Americans are too distracted by poverty and their phones. Everybody knows this by now but they don’t perceive the extent to which China has infiltrated the financial system.
If there are naked shorts then that is illegal, this company’s numbers show a net loss let’s keep that in perspective and analyze the company’s tangible results so as not to let any CEO shift 100% blame for net losses from CoVid to this revamped topic. That is my argument on this issue.
I was correct about this
It appears that the 265 million Q3 net loss was YOY and not quarterly:
“Net loss was $264.7 million and adjusted EBITDA was $0.8 million, largely driven by non-cash asset impairment charges related to the write-down of goodwill, trademarks and other assets of $301.9 million.”
Waiting the standard 6 or 7 sessions post RS to buy near middle bollinger band on one month chart imo
“H1 2022 net loss of ($3.50) million and net loss on a pro forma basis of ($2.61) million in H1 2022 -- H1 2022 EBITDA net loss of ($1.96) million compared to EBITDA net loss of ($0.62) million in H1 2021 and EBITDA net loss on a pro forma basis of ($0.95) million in H1 2022 -- Cash and equivalent as of June 30, 2022 of $7.58 million compared to $1.78 million as of December 31, 2021 ”
As bad as short sellers are, let’s keep it real about low quality CEOs casting 100% blame for their real world financial results. YoY Product sales should be higher than the total outstanding shares imo. If the company can’t sell its product well enough and starts selling shares instead to fund its operations that is theft from shareholders. New blame is required now that CoVid can’t be blamed anymore for mismanagement and low quality acquisitions. Every bad CEO will jump on board the blame game unless they can prove in the same article that their numbers justify their comments. The comments should be inclusive of the company’s sales and administrative expenses so investors aren’t duped into thinking every CEO that cries short selling has been doing a good job selling its product or service and hasn’t wasted money or been a complete fraud.
“7:32a ET 8/25/2022 - Dow Jones
Genius Group to Sell $18.1M in Senior Notes to Institutional Investor
By Chris Wack
Genius Group Ltd. said Thursday it has entered into a securities purchase agreement for the sale of $18.13 million of senior secured convertible notes in a private placement with an institutional investor for a purchase price of $17 million.
The closing of the sale of the notes is expected to occur on or about Friday, the company said.
The purchase price will be placed in a deposit account subject to a control agreement. The notes will have 30-month maturity and a conversion price of $5.17 per ordinary share for voluntary conversions of the notes, subject to adjustment, Genius Group said.
The notes will bear interest at a per annum rate of 5%, it said.
The company said it intends to use the proceeds available from the issuance and sale of the notes for general corporate purposes and for acquisitions to the extent permitted under the purchase agreement.
Genius Group shares were up 8% to $3.15 in premarket trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
August 25, 2022 07:32 ET (11:32 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.”
Naked short sellers deserve what they get of course but keep in mind that the PRs for this company prove that sales and earnings decreased and the company filed to sell 100 million shares of its own stock. Those tidbits of info were left out of complaining about short selling, all types which should be banned imo, I just think it is laughable that a company that has the history described in the last three posts would make it seem like they had good sales, earnings and didn’t file a shelf registration by projecting 100% blame for the company’s failure on short sellers, I assume all poorly run companies will jump on board the new blame game since they can’t blame CoVid anymore. Investors and the media might want to keep it real when discussing this topic brought forth by GNS so as not to allow low quality CEOs to manipulate the public interest that may be generated by it.
Here is why HLBZ stock fell from May to August 2022:
“4:02p ET 5/16/2022 - Benzinga
Helbiz Q1 EPS $(0.64) Up From $(0.65) YoY, Sales $3.30M Miss $4.13M Estimate
Helbiz (NASDAQ:HLBZ) reported quarterly losses of $(0.64) per share. This is a 1.54 percent increase over losses of $(0.65) per share from the same period last year. The company reported quarterly sales of $3.30 million which missed the analyst consensus estimate of $4.13 million by 20.10 percent.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.”
Here is why HLBZ stock fell from 1.61 to .42 from August to October 2022:
“4:54p ET 8/15/2022 - Benzinga
Helbiz Q2 EPS $(0.57) Down From $(0.36) YoY
Helbiz (NASDAQ:HLBZ) reported quarterly losses of $(0.57) per share. This is a 58.33 percent decrease over losses of $(0.36) per share from the same period last year.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.”
Here is why HLBZ price fell from .30 to .12 the past three months:
“12:28p ET 10/18/2022 - Benzinga
Helbiz, In Late Monday Filing, Shows Prospectus To Sell Up To $100M In Combination Of Securities
We may offer, from time to time, in one or more offerings, Class A common stock, preferred stock, warrants or units, which we collectively refer to as the 'securities'. The aggregate initial offering price of the securities that we may offer and sell under this prospectus will not exceed $100,000,000. We may offer and sell any combination of the securities described in this prospectus in different series, at times, in amounts, at prices and on terms to be determined at, or prior to, the time of each offering. This prospectus describes the general terms of these securities and the general manner in which these securities will be offered. We will provide the specific terms of these securities in supplements to this prospectus. The prospectus supplements will also describe the specific manner in which these securities will be offered and may also supplement, update or amend information contained in this prospectus. This prospectus may not be used to consummate a sale of securities unless accompanied by the applicable prospectus supplement. You should read this prospectus and any applicable prospectus supplement before you invest.
The securities covered by this prospectus may be offered through one or more underwriters, dealers and agents or directly to purchasers. The names of any underwriters, dealers or agents, if any, will be included in a supplement to this prospectus. For general information about the distribution of securities offered, please see 'Plan of Distribution'.
Our Class A common stock is traded on the Nasdaq Capital Market under the symbol 'HLBZ'. On September 28, 2022, the closing price of our Class A common stock as reported by the Nasdaq Capital Market was $0.386 per share. Certain of our warrants are traded on the Nasdaq Capital Market under the symbol 'HLBZW'. On September 28, 2022, the closing price of our publicly traded warrants as reported by the Nasdaq Capital Market was $0.08 per warrant.
Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities pursuant to this registration statement with a value more than one-third of the aggregate market value of our Class A common stock held by non-affiliates in any 12-month period, so long as the aggregate market value of our Class A common stock held by non-affiliates is less than $75.0 million. In the event that subsequent to the effective date of this registration statement, the aggregate market value of our outstanding Class A common stock held by non-affiliates equals or exceeds $75.0 million, then the one-third limitation on sales shall not apply to additional sales made pursuant to this registration statement provided, except as otherwise set out in General Instruction I.B.6 of Form S-3. We have not offered any securities pursuant to General Instruction I.B.6 of Form S-3 during the prior 12 calendar month period that ends on, and includes, the date of this prospectus.
We are an 'emerging growth company' as defined in section 3(a) of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'), and are therefore eligible for certain exemptions from various reporting requirements applicable to reporting companies under the Exchange Act (see 'Exemptions Under the Jumpstart Our Business Startups Act.')
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.”
“6:06a ET 1/23/2023 - Dow Jones
Irwin Naturals Is Maintained at Overweight by Cantor Fitzgerald”
One year away from primary, Trump Presidential campaign begin tech strategies:
2024:
“January 22: Iowa caucus (scheduled) [25]
January 30: New Hampshire primary (scheduled) [25]
March 5: Super Tuesday (primaries in Alabama, American Samoa, Democrats Abroad, South Carolina, Arkansas, California, Colorado, Maine, Massachusetts, Minnesota, North Carolina, Oklahoma, Tennessee, Texas, Utah, Vermont, Virginia)[25]”
“At the time of EG Acquisition Corp.'s initial public offering, the sponsor agreed to not sell its founder shares for a period of three years after the business combination.”
“8:45a ET 10/17/2022 - Dow Jones
Press Release: flyExclusive, One of the Fastest-Growing Providers of Premium Private Jet Charter Experiences, to Become Publicly Traded via Business Combination Agreement with EG Acquisition Corp.
flyExclusive, One of the Fastest-Growing Providers of Premium Private Jet Charter Experiences, to Become Publicly Traded via Business Combination Agreement with EG Acquisition Corp.
PR Newswire
NEW YORK and KINSTON, N.C., Oct. 17, 2022
flyExclusive has entered into a business combination agreement with EG Acquisition Corp. (NYSE: EGGF); the combined company is expected to trade on the NYSE
In just over seven years, flyExclusive has become one of the nation's five largest private jet operators with triple digit membership growth and a 94% retention rate among existing members
Track record of recurring profitable growth with projected estimated 2022 revenue of more than $360 million and estimated 2022 Management EBITDA of $32.0 million and a projected 2023 revenue of $522 million with an estimated Management EBITDA of $63.7 million
Transaction values flyExclusive at a pre-transaction equity value of $600 million and is expected to provide up to $310 million in proceeds, including $85 million of immediate funding through committed convertible notes and up to $225 million of SPAC cash held in trust
Proceeds will allow flyExclusive to continue its growth, better serve customers and execute its strategic plan to become the nation's first fully vertically integrated private aviation company
NEW YORK and KINSTON, N.C., Oct. 17, 2022 /PRNewswire/ -- flyExclusive, a leading provider of premium private jet charter experiences, and EG Acquisition Corp. (NYSE: EGGF), a Special Purpose Acquisition Company (SPAC) sponsored by EnTrust Global and GMF Capital, announced today that they have entered into a definitive business combination agreement.
Under the terms of the agreement, flyExclusive and EG Acquisition Corp. will combine into a new company that is expected to be listed on the New York Stock Exchange and will adopt flyExclusive as the corporate operating brand. flyExclusive founder and CEO Jim Segrave will lead the combined company.
The transaction, once completed, will provide flyExclusive with significant additional capital to continue its growth, better serve customers and execute its strategic plan to become the nation's first fully vertically integrated private aviation company. flyExclusive's leadership team will retain control of the company, ensuring a generational company will continue to grow in Kinston, NC.
In addition, certain sovereign wealth and U.S. institutional investors are providing $85 million to flyExclusive, via the purchase of convertible notes that were entered into simultaneously with the signing of the business combination agreement. The notes will convert into shares of the combined company upon the consummation of the business combination at a price of $10 per share (subject to adjustment in certain instances). The $85 million from the notes is expected to be primarily used by flyExclusive for the acquisition of additional aircraft and for related expenses.
flyExclusive Overview
Headquartered in Kinston, NC, flyExclusive is a premiere Part 135 owner/operator of private jet experiences that surpass expectations for quality, convenience, and safety. As one of the world's largest operators of Cessna Citation aircraft with a floating fleet of over 90 jets, flyExclusive offers access to a network of personalized private aviation with on-demand flights that can service a myriad of specialized trip needs. flyExclusive has over 800 employees with its operations centrally located on the East Coast within a few flight hours of over 70% of its customer demand.
flyExclusive's award-winning Jet Club is a multi-tiered membership program that allows customers to access the fleet with guaranteed access, no monthly management fees, no blackout dates and minimal peak days. Members retain their membership for as long as they choose to fly for a low monthly fee, with an aircraft daily rate that enables access to the most aggressive hourly rates in the industry. The company's Jet Club rate structure is purposefully designed to deliver competitively priced flights on short distance legs as well as cross-country ones. It was named by Robb Report as best in the "Jet Cards and Membership" category in the 2022 Best of the Best Awards.
flyExclusive entered the fractional market with the order of 30 CJ3+ aircraft earlier in 2022. Expansion of the fractional program to the mid and super-mid categories is expected immediately. The flyExclusive fractional program is structured like the Jet Club program with daily access fees and aggressive hourly rates, no monthly management fees or blackout dates and minimal peak days.
flyExclusive flew over 46,000 hours in 2021, over 46% percent more than the prior year. The company is currently flying nearly 5,000 hours per month. During the COVID pandemic, flyExclusive was one of only two operators that flew more flight hours in 2020 than it flew in 2019. Additionally, the company delivered major enhancements to its Jet Club and enjoyed triple digit membership growth while many operators scaled back their jet card offerings and added restrictions for new members to offset jet demand. flyExclusive made investments to its fleet to guarantee availability so new Jet Club members were able to fly immediately without any restrictions or blackouts.
flyExclusive is both ARG/US and Wyvern certified, which is achieved by less than 5% of all private flight providers.
EG Acquisition Corp. Overview
EG Acquisition Corp. is a Special Purpose Acquisition Company (SPAC) sponsored by EnTrust Global and GMF Capital that raised $225 million in its initial public offering on May 26, 2021.
Founded in 1997 by Chairman and CEO Gregg S. Hymowitz, EnTrust Global is a global investment firm with approximately $18 billion in total assets. The firm manages assets for more than 500 institutional investors representing 48 countries. EnTrust has invested nearly $14 billion across approximately 160 transactions in both the private and public sectors, including transportation businesses. GMF Capital, a private investment platform founded by Gary Fegel in 2013, manages more than $1.5 billion in assets and has invested more than $5.5 billion of assets across 100+ transactions since inception, including in blank check companies and aviation industry assets. Both EnTrust Global and GMF capital have significant experience with SPAC transactions, having executed several successful business combinations.
Mr. Hymowitz serves as CEO and director of EG Acquisition Corp, and Mr. Fegel serves as chairman of EG Acquisition Corp.'s Board of Directors.
At the time of EG Acquisition Corp.'s initial public offering, the sponsor agreed to not sell its founder shares for a period of three years after the business combination. Mr. Hymowitz and Mr. Fegel believed, and continue to believe, that this longer "lock-up" period should better align the interests of the sponsor with those of EG Acquisition's investors. As such, with certain limited exceptions, the sponsor will continue to be invested in the combined company for at least three years after the completion of the business combination. In addition, Mr. Hymowitz and Mr. Fegel are expected to serve as directors on the board of directors of the combined company.
Management Commentary
"flyExclusive is raising the bar in the private aviation industry and creating the best possible experience for customers, partners, and employees so we can create more moments that matter," said Jim Segrave, CEO of flyExclusive. "We are excited to enter the public markets through our business combination with EG Acquisition Corp. This capital, combined with our leadership team's significant aviation industry experience, will allow flyExclusive to rapidly grow our workforce, significantly expand our fleet and further invest in our customer experience, while maintaining our core values and family first culture."
Added Segrave: "flyExclusive previously announced the purchase of 30 Citation CJ3+ light aircraft with deliveries scheduled to start Q3 of next year. With this additional capital, we are planning to further expand of our fractional ownership program to include mid and super-mid aircraft to provide more options to our valued customers."
"flyExclusive has become one of the fastest-growing providers of premium private jet charter experiences thanks to their world-class leadership team, business model designed to maximize utilization and flight unit economics and the consistent high-quality service they provide to customers," said Gregg S. Hymowitz, CEO and Director of EG Acquisition Corp. and Chairman and CEO of EnTrust Global. "I could not be more confident in Jim and his team at flyExclusive and believe they are ready to further accelerate their market position through this opportunity to become a public company."
"When we founded EG Acquisition Corp., our intention was to identify a high-quality business run by an exceptional team, pursuing growth and large market opportunities," said Gary Fegel, founder of GMF Capital and Chairman of EG Acquisition Corp. "flyExclusive is an ideal partner. Their differentiated model and track record of performance, combined with our investment and the continued acceleration of the private aviation market, will allow flyExclusive to extend their leadership position and deliver shareholder value."
Transaction Overview
Under the terms of the definitive business combination agreement, the transaction values flyExclusive at a pre-transaction equity value of $600 million and is expected to provide up to $310 million in proceeds, including $85 million of committed convertible notes described above and $225 million of SPAC cash in trust assuming no redemptions. No additional funding beyond the $85 million of already committed convertible notes is required for the business combination to close.
Upon the closing of the proposed transaction, flyExclusive's senior management will continue to serve in their current roles. The current flyExclusive owners will retain approximately 60% of the ownership at close, assuming no redemptions in SPAC cash held in trust.
(MORE TO FOLLOW) Dow Jones Newswires
October 17, 2022 08:45 ET (12:45 GMT))”
Easter Egg Bunny Year of the Rabbit
February 8th or 9th imo due to the upcoming 90 days from MOU about the acquisition on 11/14. Happy Valentine’s Day maybe.
Undesirable investor sold their shares most likely, leading to the increase. Only the chosen desirables can have more money, not less.
Without news Monday it will probably go to .0019 gap or lower by February 23rd (6 month consolidation completes), FED rate hikes may end by March or April so if crypto begins to recover in that time frame then maybe it makes sense for the Shareprice of Moni to also recover after late February. The issue is that even though FED rate hikes may end that doesn’t mean the rates will decrease back to zero without a significant shock to the system such as a nuclear weapon detonation, major earthquake, tsunami, Comet or Asteroids, solar flare, cyber attack on power grid, Greenland ice sheet sliding into the sea, aliens landing, the matrix revealed and/or volcanic eruption requiring softening of monetary policy in the western world. Short term bonds at current higher rates would otherwise draw money away from significant crypto and market investment imo until such major disaster occurs.
My theories are not advice, I am trying to prove that the market trades to a certain extent on factors and correlations that seem at face value not to have anything to do with the market, such as a video game, movie, song lyrics, date and symbol codes, historical correlations and moon phases for example. A certain percentage of investors, including billionaires who can move the market imo, trade on those things because they are too lazy to do financial analysis and it distorts the market significantly.
Q3 filing:
“Operational Highlights & Subsequent Events
Irwin Naturals is executing on an aggressive expansion strategy into the high-growth cannabis and psychedelics sectors. The Company intends to leverage its household name brand status to drive an aggressive rollup of mental health clinics (the Company is focused on ketamine clinics, as this is currently the only FDA-approved and/or regulated psychedelic substance). Furthermore, the Company has begun executing on its brand licensing strategy throughout the US. To date, the Company has announced agreements to acquire entities or assets; or completed the acquisition of such entities or assets amounting to 17 clinics, as well as the signing of seven brand licensing deals that will see Irwin Naturals products enhanced with THC be offered in California, Colorado, New Mexico, Mississippi, Ohio, Michigan and Canada.
State Clinic Acquisitions
Florida Ketamine Health Centers (5 clinics)
Florida Mind Health (3 clinics)
Dura Medical (1 clinic)
Iowa Midwest Ketafusion
New Hampshire New England Ketamine
Mexico Ketamine Health Centers
Vermont Preventive Medicine
Georgia Invictus Clinics (2 clinics)
Washington Tri-Cities Infusion
Idaho Ketamine Infusions of Idaho
Ohio Happier You
Kentucky Serenity Health
State Brand License Recipients
California The Hive Laboratory, LLC
Colorado Larsen Group II, LLC
Ohio BeneLeaves, Ltd
New Mexico Assurance Laboratories, LLC
Canada Entourage Health Corp.
Mississippi Mockingbird Cannabis, LLC
Michigan 42 Degrees Processing, LLC”
“7:30a ET 12/9/2022 - Globe Newswire
The Addition of Three Mental Health Clinics to Irwin Naturals' Florida Footprint Solidifies the Companies Impact as One of the Fastest-Growing Chains of Mental Health Clinics
Company continues to expand its national network of psychedelic mental-healthcare clinicsGlobeNewswireDecember 09, 2022
LOS ANGELES, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") completed the acquisition of the assets of Clare Clinic, Inc., d/b/a Florida Mind Health Center.
The Company entered into an acquisition agreement (the "Agreement") dated October 30, 2022 with Clare Clinic, Inc., d/b/a Florida Mind Health Center, which serves clients out of three healthcare clinics in located in Gainesville, Tallahassee and Panama City, Florida.
The clinics join Irwin Naturals Emergence, a fast-growing national chain offering psychedelic mental healthcare that now includes 8 clinics in Florida.
Klee Irwin, CEO of Irwin Naturals, said "Our roll-up is quickly gathering momentum. This is the eighth ketamine clinic we are adding to our growing portfolio in Florida and is part of our 17 clinics which we have either acquired or have a definitive agreement to acquire in the near future, in over ten states. Our mission is to make this amazingly effective treatment available and accessible throughout the country and beyond. We continue to add to our bottom line through these highly accretive transactions as we focus on acquiring profitable operations."
Zohar Levites, CRNA, ARNP, MS, founder of Florida Mind Health Center, said "We are very excited to be merging with Irwin Naturals and to be a part of something bigger in a field that could transform the way disorders are treated in Florida and nationwide. As a partner of Irwin Naturals Emergence, we will be able to offer cutting-edge services and compassionate care under the name of a household brand with decades of trust among customers."
Building a national chain will create some efficiencies and the cost-benefits that come from economies of scale. The incorporation of Irwin Naturals best practices over time will also help drive down operating costs, savings that can be passed on to customers by providing sliding-scale discounts.”
“7:30a ET 12/21/2022 - Globe Newswire
Irwin Naturals THC Products to Be Available in Oregon
Company announces licensing agreement with Oregon company to distribute Irwin Naturals THC productsGlobeNewswireDecember 21, 2022
LOS ANGELES, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") announced on a licensing agreement with JV 805 LLC dba Hyphae Wellness ("Hyphae Wellness"), one of Oregon's premier mushroom and cannabis product developers, to manufacture, sublicense and distribute Irwin Naturals THC products throughout that state.
Klee Irwin, CEO of Irwin Naturals, said, "We're excited and grateful to have such an incredible partner as we take this next step toward getting Irwin Naturals THC products on the dispensary shelves in every state where cannabis is legal. Oregon is an important market for us, and Geoff Ostrove is a true pioneer in the industry. The team at Hyphae Wellness not only provides state-wide distribution but can also ensure the high-quality that Irwin Naturals customers expect in our products."
Geoff Ostrove, Hyphae Wellness CEO, said, "The chance to work with a national brand like Irwin Naturals is a tremendous opportunity not just for our company, but for our entire state's cannabis industry. This is a household brand that is normalizing and advocating mainstream use of THC, as well as seeking to achieve distribution across the country. We're excited to be chosen as their partner here in Oregon."
Irwin Naturals previously reached licensing agreements for the manufacture and distribution of its THC products in California, Colorado, Ohio, New Mexico, and Michigan. The addition of Oregon means that Irwin Naturals THC products are headed to dispensary shelves in five of the 19 states where marijuana is legal for recreational use, including three of the top five markets in the country.
Irwin Naturals was founded in 1994 and has built itself into a brand that is now recognized in 80 percent of American households1 with best-in-class nutraceuticals, such as its famous "Power to Sleep PM." Irwin Naturals products are available in more than 100,000 stores in North America.
Under the licensing agreement, Irwin Naturals THC products will be manufactured and distributed through Hyphae Wellness, a craft mushroom and cannabis company focused on living soil cultivation methods and solventless manufacturing processes. Based in Eugene, it has state-wide distribution, working with more than 100 retailers across the state. Ostrove has two Master's degrees and a Doctorate from the University of Oregon. In 2016, he became the President and Founder of one of the first companies in Oregon authorized to cultivate cannabis for recreational use.
Cannabis is now legal in the majority of states. However, because it is not legal at the federal level, cannabis products must be approved on a state-by-state basis. Irwin Naturals is achieving national distribution by reaching exclusive licensing agreements with cannabis manufacturers in different states. Of the 19 states that now allow recreational use of marijuana, Irwin Naturals has licensing agreements with companies in five of those states: California, Colorado, Michigan, New Mexico, and now Oregon. It also has a licensing agreement with a company in Ohio where cannabis use is allowed for medical purposes.
Oregon legalized the medical use of marijuana in November 1998 when a citizen initiative was passed by voters. Non-medical cultivation and use of marijuana became legal in the state on July 1, 2015.”
“7:30a ET 1/10/2023 - Globe Newswire
Irwin Naturals and Braxia Scientific Announce Partnership for In-Human Clinical Studies Supporting Pharmaceutical Companies in the US
GlobeNewswireJanuary 10, 2023
LOS ANGELES, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") , is proud to announce it has signed a Letter of Intent entering into a partnership with Braxia Scientific Corp. ("Braxia Scientific"), (CSE: BRAX) (OTC: BRAXF) (FWB: 4960), a medical research company providing psychiatric, innovative ketamine and psilocybin treatments for mental health disorders, to launch Clinical Research Services across Irwin's growing U.S. based network of clinics, Emergence.
The partnership will bring together Braxia's expertise, track record of leadership in innovative mental health treatments and current comprehensive clinical research capabilities to 12 Emergence clinics in 5 US states. Under the terms of the LOI, Irwin will invest up to $2 million over the next 12 months to launch initial clinical research services beginning with at least 5 clinics in Florida.
Irwin and Braxia's partnership will create a leading mental health focused clinical research platform designed to streamline and accelerate the process of in-human clinical development of new therapies, including seamless patient recruitment through to FDA application. The partnership will support multiple large and small pharmaceutical sponsors, innovative biotechnology companies, medical device companies, government and non-governmental institutions who seek to carry out the development of new therapies in the area of mental health in the US.
The mental health leadership of Braxia, through its globally recognized management and clinical development teams, will be a major accelerator and differentiator for Irwin's network of clinics across the US. To date, Braxia's CEO, Dr. Roger McIntyre continues to rank as the world's foremost expert in depression research1. Dr. McIntyre and Dr. Joshua Rosenblat, Braxia Chief Medical and Science Officer have conducted dozens of national and international research studies involving thousands of patients living with depression. This is the type of value added services Emergence is looking to add to its growing network of clinics in the US.
Klee Irwin, CEO, Irwin Naturals commented, "We are extremely pleased to have reached a new milestone in the development of our clinics by establishing a strategic relationship with Dr. McIntyre and his research team. Having an outstanding reputation for scientific expertise, quality clinical research in depression and other mental health disorders areas that will enable us to further develop our US clinical footprint."
Dr. Roger McIntyre, CEO, Braxia Scientific, commented, "We are conducting a number of ongoing clinical trials and are currently receiving requests from various pharmaceutical sponsors to support international programs to develop novel therapies in mental health. We have been developing a plan to reach a broader market in the US and globally. This exciting partnership allows us to expand our expertise in an effective manner by leveraging the existing Irwin infrastructure deployed over a number of states in the U.S."
The partnership is subject to execution of a final definitive legal agreement covering the above and other material terms of the relationship between Braxia and Irwin.”
“5:00p ET 11/15/2022 - PR Newswire
Hollysys Automation Technologies Reports Unaudited Financial Results for the First Quarter Ended September 30, 2022
First Quarter of Fiscal Year 2023 Financial Highlights
-- Total revenueswere $170.0 million, an increase of 10.9% compared to the comparable prior year period.
-- Gross marginwas 31.1%, compared to 34.2% for the comparable prior year period. Non-GAAP gross margin was 31.3%, compared to 34.3% for the comparable prior year period.
-- Net income attributable to Hollysyswas $21.4 million, an increase of 50.1% compared to the comparable prior year period. Non-GAAP net income attributable to Hollysys was $23.0 million, an increase of 26.7% compared to the comparable prior year period.
-- Diluted earnings per sharewas $0.35, an increase of 52.2% compared to the comparable prior year period. Non-GAAP diluted earnings per share was $0.37, an increase of 27.6% compared to the comparable prior year period.
-- Net cash provided by operating activitieswas $1.0 million.
-- DSOof 171 days, compared to 198 days for the comparable prior year period.
-- Inventory turnover daysof 79 days, compared to 55 days for the comparable prior year period.
See the section entitled "Non-GAAP Measures" for more information about non-GAAP gross margin, non-GAAP net income attributable to Hollysys and non-GAAP diluted earnings per share.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China, today announced its unaudited financial results for the first quarter of fiscal year 2023 ended September 30, 2022.
The Industrial Automation ("IA") business maintained its strong momentum. In the petrochemical and chemical field, the Company continued to achieve breakthroughs on national key projects and cultivating major customers. The Company successfully signed the 100-billion-square-meter large gas field project, namely the Phase I Project of China National Offshore Oil Corporation ("CNOOC")'s largest condensate gas field in Bohai Bay, and will provide integrated solutions of Distributed Control System ("DCS"), Safety Instrumented System ("SIS") and Asset Management System ("AMS"), among others. The gas field will alleviate the gas shortage in North China and provide strong support for China's green and low-carbon transformation. Besides, the Sinopec Group Million Ton Ethylene Project signed in the last fiscal quarter will see the first batch delivery before the end of 2022. This project represents a milestone breakthrough in Hollysys' petrochemical business, as the Company accomplished the pilot application of optical bus control system ("OCS") related new technologies in ethylene units. This project will lay a solid technical foundation for the intellectualization of large production equipment and contribute to the sustainable development of the national energy.
In the smart factory field, Hollysys saw encouraging business growth with upgraded capabilities of integrated solutions. The Company signed the Sinopec power center simulation project which covers the whole range of high-precision excitation virtual imitation machine systems. The successful implementation of Hollysys simulation system in Sinopec will provide strong support and valuable field implementation experience for the Company's further cooperation with the "Chinese Three Barrels of Oil" and other oil and gas enterprises. Meanwhile, Hollysys completed the delivery of a 230,000 tons phenolic resin project signed with a company based in Shandong Province, providing fully autonomous and controllable HiaBatch Batch control system with DCS and Batch Processing System ("BATCH") control systems, which is expected to facilitate the industrial upgrading with digital customized solutions, and promote the standardization of the complex process for batch production enterprises.
The food and pharmaceutical sectors also demonstrated a steady business growth. The Company signed a significant project with a leading enterprise of generic contrast media products on producing iodiproamine and regadesone. Hollysys will act as the overall instrument control contractor that provides DCS system, instrument valves and installation in this project. The project will locate in Taizhou, Zhejiang Province, which is the national center for the production of active pharmaceutical ingredients ("APIs"), and such project will offer a significant strategic opportunity for the Company's further development in the pharmaceutical sector.
The strategic layout and developments in the Company's overseas business also witnessed steady progress. The Company successfully signed the OBI nickel-iron project in Indonesia with a resource company, with Hollysys providing DCS, Digital Electro-Hydraulic("DEH") control system with over 60,000 optical points, Manufacturing Execution System ("MES"), AMS, information security and other customized products with integrated and comprehensive intelligent solutions. This project is a large-scale smelting project built under the national "Belt and Road" initiative that will promote the comprehensive utilization of nickel ore resources and contribute to the security and sustainable development of nickel resource supply chain.
In the high-speed rail sector, the Company continued to sign new contracts and deliver on existing projects, maintaining its position in existing product lines and exploring opportunities in merging intelligent product lines. Leveraging the customer recognition of its technical strength and services, the Company signed a contract to provide Radio Block Center ("RBC"), Train Control Center ("TCC"), Lineside Electronic Unit ("LEU") and other equipment for the Guizhou section of Guiyang-Nanning Railway. The Company also delivered several projects, including the Yiyang-Changsha section of Changde-Yiyang-Changsha High-Speed Railway project, which went into operation in this fiscal quarter despite various challenges, with Hollysys being the main supplier of Chinese Train Control System Level 3 ("CTCS-3"), providing systems such as RBC, TCC and Temporary Speed Restriction Server ("TSRS"). In the subway sector, Traffic Operation System ("TOS") Platform, a smart urban rail solution based on cloud platform, pioneers the use of industrial Internet in the urban rail transit sector, and was applied in the Phase I Project of Beijing Metro Line 19. Hollysys has confidence in contributing to the rail transit system to become faster and smarter in the future based on its professional ability and experience accumulated over the past three decades.
The mechanical and electrical solutions ("M&E") segment of the Company also manifested a stable performance with our smooth executions on various projects. The risk monitor and control are still expected to be our future focus in this field.
With its continuous dedication to the industry and the support of experienced and passionate experts, Hollysys believes that it will continue to create greater value for clients and shareholders.
FiscalQuarterEnded September 30, 2022 UnauditedFinancial ResultsSummary(In USD thousands, except for %, number of shares and per share data) Three months ended Sep 30, 2022 2021 % ChangeRevenues $ 170,041 153,385 10.9%Integrated solutions contracts revenue $ 143,125 124,563 14.9%Products sales $ 11,773 9,646 22.1%Service rendered $ 15,143 19,176 (21.0)%Cost of revenues $ 117,194 100,990 16.0%Gross profit $ 52,847 52,395 0.9%Total operating expenses $ 36,304 37,681 (3.7)%Selling $ 13,013 9,409 38.3%General and administrative $ 12,733 17,076 (25.4)%Research and development $ 17,359 16,049 8.2%VAT refunds and government subsidies $ (6,801) (4,853) 40.1%Income from operations $ 16,543 14,714 12.4%Other income, net $ 1,066 969 10.0%Foreign exchange gain (loss) $ 4,097 (425) (1064.0)%Share of net income of equity investees $ 597 212 181.6%Interest income $ 3,161 2,861 10.5%Interest expenses $ (143) (344) (58.4)%Income tax expenses $ 3,880 3,902 (0.6)%Net income (loss) attributable to non-controlling interests $ 44 (174) (125.3)%Net income attributable to Hollysys Automation Technologies Ltd. $ 21,397 14,259 50.1%Basic earnings per share $ 0.35 0.23 52.2%Diluted earnings per share $ 0.35 0.23 52.2%Share-based compensation expenses $ 1,237 3,594 (65.6)%Amortization of acquired intangible assets $ 340 280 21.4%Non-GAAP net income attributable to Hollysys Automation Technologies Ltd.(1) $ 22,974 18,133 26.7%Non-GAAP basic earnings per share(1) $ 0.37 0.30 23.3%Non-GAAP diluted earnings per share(1) $ 0.37 0.29 27.6%Basic weighted average common shares outstanding 61,317,302 60,822,091 0.8%Diluted weighted average common shares outstanding 61,940,240 61,589,476 0.6%__________(1) See the section entitled "Non-GAAP Measures" for more information about these non-GAAP measures.
Operational Results Analysis for the First Quarter Ended September 30, 2022
Compared to the first quarter of the prior fiscal year, the total revenues for the three months ended September 30, 2022 increased from $153.4 million to $170.0 million, representing an increase of 10.9%. Broken down by the revenue types, integrated solutions contracts revenue increased by 14.9% to $143.1 million, products sales revenue increased by 22.1% to $11.8 million, and services revenue decreased by 21.0% to $15.1 million.
Since the majority of the Company's revenues are denominated in RMB, and the Company's financial results are reported in U.S. dollars, the recent depreciation of the RMB against the U.S. dollar has exerted a relatively significant negative impact on the value of contracts and revenue reported in U.S. dollar terms.
The Company's total revenues can also be presented by segment as shown in the table below:
(In USD thousands, except for %) Three months ended Sep 30, 2022 2021 $ % to Total Revenues $ % to Total RevenuesIndustrial Automation 121,048 71.2 102,461 66.8Rail Transportation Automation 28,242 16.6 35,935 23.4Mechanical and Electrical Solution 20,751 12.2 14,989 9.8Total 170,041 100.0 153,385 100.0
Gross marginwas 31.1% for the three months ended September 30, 2022, as compared to 34.2% for the same period of the prior fiscal year.Gross margin of integrated solutions contracts, product sales, and service renderedwas25.0%, 70.6% and 58.2% for the three months ended September 30, 2022,as compared to 25.1%, 74.8% and 72.6% for the same period of the prior fiscal year, respectively. Non-GAAP gross marginwas 31.3%for the three months endedSeptember, 2022, as compared to 34.3% for the same period of the prior fiscal year.Non-GAAP gross margin of integrated solutions contractswas 25.2% for the three months endedSeptember 30, 2022,as compared to 25.3% for the same period of the priorfiscal year. See the section entitled "Non-GAAP Measures" for more information about non-GAAP gross margin and non-GAAP gross margin of integrated solutions contracts.
Selling expenseswere $13.0 millionfor the three months ended September 30, 2022, representing an increase of $3.6 million, or 38.3%, compared to $9.4 million for the same period of the prior fiscal year. The increase was in line with our sales growth. Selling expenses as a percentage of total revenueswere 7.7%and6.1% for the three months ended September 30, 2022 and 2021, respectively.
General and administrativeexpenseswere$12.7million forthe three months ended September 30, 2022, representing a decrease of $4.3 million, or 25.4%, compared to $17.1 million for the same period of the prior fiscal year, which was primarily due to a $2.4 million decrease in share-based compensation expenses, a $1.3 million decrease in third-party consulting fees and a $1.3 million decrease in net of allowance for credit losses. Share-based compensation expenses were $1.2 million and $3.6 million for the three months ended September 30, 2022 and 2021, respectively. General and administrative expensesas a percentage oftotal revenues were7.5% and 11.1%for the three months ended September 30, 2022and 2021, respectively.
Research and development expenses were$17.4 millionfor the three months ended September 30, 2022, representing an increase of $1.3 million, or 8.2%, compared to $16.0 million for the same period of the prior fiscal year. Research and development expenses as a percentage of total revenues were10.2%and 10.5%for the three months ended September 30, 2022 and 2021, respectively.
The increase in research and development expenses was mainly due to the Company's efforts to enhance its core competitiveness as a technology-driven company and its increased investments in the development of products and research and development capability, which was in line with its long-term strategy.
The VAT refunds and government subsidies were $6.8 million for three months ended September 30, 2022, as compared to $4.9 million for the same period in the prior fiscal year, representing a $1.9 million, or 40.1%, increase.
The income tax expenses and the effective tax ratewere $3.9 million and 15.3% for the three months ended September 30, 2022, respectively, as compared to $3.9 million and 21.7% for the comparable period in the prior fiscal year, respectively. The effective tax rate fluctuates, as the Company's subsidiaries contributed different pre-tax income at different tax rates.
Net income attributable to Hollysys was $21.4millionfor three months ended September 30, 2022,representinganincrease of 50.1% from $14.3 millionreported in thecomparableperiod in the prior fiscal year. Non-GAAP net income attributable to Hollysyswas $23.0 million or $0.37 per diluted share. See the section entitled "Non-GAAP Measures" for more information about non-GAAP net income attributable to Hollysys.
Diluted earnings per share was $0.35 for the three months ended September 30, 2022, representing an increase of 52.2% from $0.23 for the comparable period in the prior fiscal year.Non-GAAP diluted earnings per share was $0.37 for the three months ended September 30, 2022, representing an increase of 27.6% from $0.29 for the comparable period in the prior fiscal year.These were calculated based on 61.9 million and 61.6 million diluted weighted average ordinary shares outstanding for the three months ended September 30, 2022 and 2021, respectively. See the section entitled "Non-GAAP Measures" for more information about non-GAAP diluted earnings per share.
Contracts and Backlog Highlights
Hollysys achieved $195.3 millionin terms of the value of new contracts for the three months ended September 30, 2022. The order backlogof contracts as of September 30, 2022 was $906.3million. The detailed breakdown of new contracts and backlog by segment is shown in the table below:
(In USD thousands, except for %) Value of new contracts achieved for Backlog as of Sep 30, 2022 the three months ended Sep 30, 2022 $ % to Total Contract Value $ % to Total BacklogIndustrial Automation 159,629 81.7 387,984 42.8Rail Transportation 16,422 8.4 325,936 36.0Mechanical and Electrical Solutions 19,256 9.9 192,394 21.2Total 195,307 100.0 906,314 100.0
Cash Flow Highlights
For the three months ended September 30, 2022, thetotal net cash outflow was $104.2 million. The net cash provided by operating activitieswas$1.0 million. The net cash used in investing activities was $69.5 million and mainly consisted of $71.1 million of purchases of short-term investments and $10.1 million of purchases of property, plant and equipment, which was partially offset by $11.6 million of maturity of short-term investments. The net cash provided by financing activities was $0.9 million.
Balance Sheet Highlights
The total amount of cash and cash equivalents was$575.1 million, $679.8 million, and $704.9 million as of September 30, 2022, June 30, 2022 and September 30, 2021, respectively.
For the three months ended September 30, 2022, DSO was 171 days, as compared to198 days for the comparable prior fiscal year and 174 days for the last fiscal quarter; inventory turnover days were79 days, as compared to 55days for the comparable prior fiscal year and 73days for the last fiscal quarter. The significant increase in inventories was mainly due to the Company's increase in safety stock in response to supply chain fluctuations.
About Hollysys Automation Technologies Ltd.
Hollysys is a leading automation control system solutions provider in China, with overseas operations in eight other countries and regions throughout Asia. Leveraging its proprietary technology and deep industryknow-how,Hollysys empowers its customers with enhanced operational safety, reliability, efficiency, and intelligence which are critical to their businesses. Hollysys derives its revenues mainly from providing integrated solutions for industrial automation and rail transportation automation. In industrial automation, Hollysys delivers the full spectrum of automation hardware, software, and services spanning field devices, control systems, enterprise manufacturing management and cloud-based applications. In rail transportation automation, Hollysys provides advanced signaling control and SCADA (Supervisory Control and Data Acquisition) systems for high-speed rail and urban rail (including subways). Founded in 1993, with technical expertise and innovation, Hollysys has grown from a research team specializing in automation control in the power industry into a group providing integrated automation control system solutions for customers in diverse industry verticals. As of June30, 2022, Hollysys had cumulatively carried out more than 40,000 projects for approximately 22,000 customers in various sectors including power, petrochemical, high-speed rail, and urban rail, in which Hollysys has established leading market positions.”
“8:43a ET 9/2/2022 - Benzinga
Hollysys Shares Soar As Management-Led Consortium Reportedly Weighs Offer At 71% Premium
A consortium led by China's Hollysys Automation Technologies, Ltd's (NASDAQ: HOLI) management aims to take the U.S.-listed automation and control system maker private in a deal at a $1.8 billion valuation, Reuters reports.
The consortium plans to offer about $29 per share, representing a premium of 71% to the firm's September 1 closing price of $16.96.
The management team, led by founder and CEO Wang Changli, has won endorsement for the deal from the municipal government of Beijing.
Recently, a consortium led by Recco Control Technology and Dazheng Group, reaffirmed its non-binding indicative all-cash offer of $25 per share to acquire Hollysys, which was first sent to the board on December 3, 2021, and publicly announced on January 24, 2022.
Related: Hollysys Shares Pop On Receipt Of Takeover Offer At 69.4% Premium
The Reuters report added that the consortium viewed Hollysys, listed in New York in 2008, as undervalued in the U.S. market.
The consortium aims to bring several financial investors into the deal, including U.S. private equity firm Warburg Pincus and Chinese venture capital firm Legend Capital.
The consortium has also held talks with banks to finance the deal and is about to secure loans worth at least $1 billion from Chinese lenders, led by ICBC (Asia).
Price Action: HOLI shares traded higher by 23.8% at $21 in the premarket on the last check Friday.
Photo Via Company
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.”
As FED rate hikes continue, watching 2021 gaps at .1210 and .15
Phunwhare
Fun, 23, Hare.
Year of the Rabbit Monday
“9:00a ET 1/20/2023 - BusinessWire
Cepton, Inc. Announces Closing of $100 Million Investment from Koito Manufacturing
Cepton, Inc. ("Cepton") (Nasdaq: CPTN), a Silicon Valley innovator and leader in high performance lidar solutions, announced today the completion of its previously announced $100 million investment (the "Investment") from its long-term automotive Tier 1 partner and current shareholder, Koito Manufacturing Co., Ltd. ("Koito") (TSE: 7276) on January 19, 2023. The Investment, in the form of convertible preferred stock, was approved at a special meeting of Cepton stockholders on January 11, 2023, and is convertible, beginning on the first anniversary of the issue date, into shares of Cepton's common stock at an initial conversion price of $2.585 per share.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230120005052/en/
"We're happy to announce the closing of the preferred stock investment as we deepen our partnership with Koito," said Dr. Jun Pei, Cepton's Co-Founder and CEO. "We plan to deploy the additional capital to help fund our next stage of growth, continue series production execution, and expand our collaboration efforts towards winning additional automotive OEM programs."
"We're excited to have completed our third investment in Cepton, which solidifies our commitment to lidar and increasing automotive safety for drivers worldwide," said Mr. Michiaki Kato, Koito's President. "This is an important year for us as we work towards commercialization and scale manufacturing of our lidar products. We have a strong track record with Cepton as a partner and look forward to achieving our mutual goal of becoming the leader within lidar."”
SP can go over 2.585 for one year without dilution from the conversion.
“9:00a ET 1/20/2023 - BusinessWire
Cepton, Inc. Announces Closing of $100 Million Investment from Koito Manufacturing
Cepton, Inc. ("Cepton") (Nasdaq: CPTN), a Silicon Valley innovator and leader in high performance lidar solutions, announced today the completion of its previously announced $100 million investment (the "Investment") from its long-term automotive Tier 1 partner and current shareholder, Koito Manufacturing Co., Ltd. ("Koito") (TSE: 7276) on January 19, 2023. The Investment, in the form of convertible preferred stock, was approved at a special meeting of Cepton stockholders on January 11, 2023, and is convertible, beginning on the first anniversary of the issue date, into shares of Cepton's common stock at an initial conversion price of $2.585 per share.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230120005052/en/
"We're happy to announce the closing of the preferred stock investment as we deepen our partnership with Koito," said Dr. Jun Pei, Cepton's Co-Founder and CEO. "We plan to deploy the additional capital to help fund our next stage of growth, continue series production execution, and expand our collaboration efforts towards winning additional automotive OEM programs."
"We're excited to have completed our third investment in Cepton, which solidifies our commitment to lidar and increasing automotive safety for drivers worldwide," said Mr. Michiaki Kato, Koito's President. "This is an important year for us as we work towards commercialization and scale manufacturing of our lidar products. We have a strong track record with Cepton as a partner and look forward to achieving our mutual goal of becoming the leader within lidar."”
SP can go over 2.585 for one year without dilution from the conversion.
Easter EG-OC 1:250 RS imo, April 9
Pump and dump this morning looks like,
No news no filing.
Looks like an undesirable bought in today and the run is over, nice job undesirable investor don’t you know you aren’t allowed to make money on a stock that ignored gaps until you bought it?
Gaps at 1.49, 2.35, 2.56 and 3.89, no matter though until the wrong investor invests and the sell signal goes to the algorithm trading bots. That signal, however it is obtained, is not supposed to be allowed and is illegal.
All one has to do is mention Donald Trump and the stock will go up regardless of the product or the affiliation of the company to Trump, smart on their behalf to blow that dogwhistle, there is a gap at .20 which might fill after the shareholder event.
Read between the lines on this quote:
“The company is now preparing to file an S-1 which it expects to be effective within 90-120 days, pending SEC approval. Following its name reservation, Swifty Global will also be submitting its name and ticker change application to FINRA this month.“
They don’t guarantee in the quote above that the company expects the S-1 to be effective 90-120 days from today, they “expect” it to be effective 90-120 days from when it is filed, which could be anytime in the future, and their use of the verbiage “this month” could mean any month in the future and does not guarantee them to be filing in January 2023. It’s deceptive wording in my opinion as is the shameless tactic of using Trump’s name to increase the share price.