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"Saean spent $905,000 for another 5% stake in EMPM"
By the facts in the 8k, it looks like they will actually get at least 13% of the company at the fixed conversion price of $0.03 per share, assuming no share consolidation, reverse split occurs.
$905,000 (1)/$0.03 (2) fixed conversion price = 30,166,666
195,837,336 current OS + 30,166,666 = 226,004,002 total after conversion (not counting accrued interest)
30,166,666/226,004,002 = 0.1334 x 100 = 13.34%
(1) On or about August 11, 2019, the Company entered into a “Convertible Promissory Note Purchase Agreement” (hereinafter referred to as the “Agreement”) with Saean, Inc., a Nevada corporation (hereinafter referred to as “Saean Nevada”). Pursuant to this Agreement, Saean Nevada has agreed to issue and sell to the Company two (2) individual convertible promissory note payables totaling $905,000 USD (hereinafter referred to as the “Note Payable” or “Note Payables”). The initial Note Payable in the amount of $305,000 USD shall be received within three (3) business days of the execution of the Agreement and the second Note Payable in the amount of $600,000 USD to be received by the Company within sixty (60) days of the receipt by the Company of the execution and purchase of the initial Note Payable.
(2) (b) Conversion Price
The Exercise Price is $0.03 per share of Common Stock of the Company (e.g. see “Notice of Conversion” attached hereto as Exhibit “D”). The Exercise Price shall not be affected by a reverse or forward split of the Common Stock of the Company, or any other corporate capital reorganization that may have a similar effect as set forth under section 3.3 below.
(c) Adjustments for Stok Splits and Combinations
If the Company shall at any time or from time to time effectuate a reverse or forward split or subdivision of the issued and outstanding Common Stock, the Exercise Price as set forth under subsection 2(b) above shall not be proportionately increased or decreased accordingly. In short, the Exercise Price shall not be affected by a reverse or forward split of the Common Stock of the Company or any other corporate capital reorganization that may have a similar effect.
XPEL: XPEL Reports Record Second Quarter Revenue of $30.1 Million; Gross Margin Improves to 35.5%
https://finance.yahoo.com/news/xpel-reports-record-second-quarter-120000224.html
SAN ANTONIO, Texas--(BUSINESS WIRE)--
XPEL, Inc. (Nasdaq: XPEL), a global provider of protective films and coatings, announced results for the second quarter and six months ended June 30, 2019.
Second Quarter Highlights:
Revenues increased 4.5% to $30.1 million compared to second quarter 2018, the highest revenue quarter in the history of XPEL; Sequential revenue growth of 21.7% compared to first quarter of 2019
Gross margin improved to 35.3% compared to 29.7% in second quarter 2018
Earnings per share of $0.11 compared to $0.09 per share in second quarter 2018
Ryan Pape, President and Chief Executive Officer of XPEL, commented, “We continued to see strong revenue growth in the second quarter in most of our regions led by the US which posted 55.5% growth. As expected, this growth was partially offset by continued declines in China due to the timing of China sales acceleration in the first half of 2018, but we expect that impact to moderate in the third quarter. While overall revenue growth was moderate in the second quarter, we drove substantially improved gross margin through increased sales to our higher margin customers and due to our continued focus on gross margins. We are energized by the opportunities we’re seeing across the majority of our geographic markets, and believe we are well positioned for continued growth as we move through the balance of 2019.”
For the Quarter Ended June 30, 2019:
Revenues. Revenues increased approximately $1.3 million or 4.5% to $30.1 million as compared to $28.8 million in the prior year.
Gross Margin. Gross margin was 35.3% versus 29.7% in the second quarter of 2018. The increase was related to an improved mix of increased sales to higher margin customers and continued improvements in per unit costs.
Expenses. Selling, general and administrative expenses increased to $6.7 million or 22.1% of sales as compared to $5.1 million or 17.7% of sales in the prior year period. This increase was due mainly to increases in personnel, occupancy, information technology and research and development costs to support the ongoing growth of the business and increased professional fees due to ancillary costs related to the Company’s U.S. regulatory filings. Additionally, in the second quarter of 2019 the Company incurred costs associated with its annual dealer conference which was held in the first quarter of 2018 and in the second quarter of 2019.
EBITDA. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased to $4.4 million, or 16.4%, as compared to $3.8 million in the prior year1.
Net income. Net income increased to $3.0 million, or $0.11 per basic and diluted share versus net income of $2.6 million, or $0.09 per basic and diluted share in the second quarter of 2018.
For the Six Months Ended June 30, 2019:
Revenues. Revenues increased approximately $0.9 million or 1.7% to $54.8 million as compared to $53.9 million in the first half of the prior year.
Gross Margin. Gross margin was 34.3% versus 30.0% in the first six months of 2018. The increase was related to an improved mix of increased sales to higher margin customers and continued improvements in per unit costs.
Expenses. Selling, general and administrative expenses increased to $12.3 million or 22.5% of sales as compared to $9.9 million or 18.4% of sales in the prior year period. This increase was due mainly to increases in personnel, occupancy, information technology and research and development costs to support the ongoing growth of the business and increased professional fees due to ancillary costs related to the Company’s U.S. regulatory filings.
EBITDA. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased to $7.2 million, or 5.2%, as compared to $6.9 million in the prior year2.
Net income. Net income increased to $4.9 million, or $0.18 per basic and diluted share versus net income of $4.7 million, or $0.17 per basic and diluted share for the first half of 2018.
Conference Call Information
The Company will host a conference call and webcast today, Wednesday, August 21, 2019 at 11:00 a.m. Eastern Time to discuss the Company’s results for the second quarter of 2019.
To access the live webcast, please visit the XPEL, Inc. website at www.xpel.com/investor.
To participate in the call by phone, dial (877) 407-8033 approximately five minutes prior to the scheduled start time. International callers please dial (201) 689-8033.
A replay of the teleconference will be available until September 21, 2019 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 52951.
VLE: The first flow test reults are expected tomorrow from a program intended to test at least 4 different zones in two vey different wells and the company is still sitting on >$50 million cash for the exploration program, so I think it's a bit early to be declaring '...Valeura ended up being' anything at this point.
They began testing in Inanali-1 which was intentionally drilled into a highly fractured part of the formation, so although they are only doing single stage fracs to standardize their data collection across the different zones, there still potential to see some significant flows from those naturally fractured zones.
Then when they move to Devepinar-1, they encountered more porous rock than anticipated at depth and kept drilling deeper than they originally intended because they believed it's the type of porosities that can be productive.....and these two holes are 20 km apart....so the potential implications of good flow data are significant.
I completely understand being at the max pain point though, over the past year it has taken them to drill these two very deep holes, Ergoan's Turkey has done nothing but foment geopolitical instability in the region and cast doubt on the long-term stability of the Turkish economy, which I believe has been the major cause for the attrition in share price here....and as a result of recent EU sanctions for their drilling around Cyprus, Valeura's list of prospective take out targets has dropped down to Azerbaijan and Qatar, who seem to be Turkey's only remaining friends at this point, but at least they're good friends with deep pockets and shared interest in regional energy security.
Nope, game over man, game over.
Unfortunate financing for those of us who hold already, but this company has had a quirky history of following up financing with big developments....so stay tuned.
I've been building a position here based on Jeremy Hitchcock's investment and the company's outlook to evolve into home network security.
Some interesting excerpts from the Q1 2019 shareholder cc:
Moving to next slide, #8, we're very pleased with the recent financing we closed this week. It provides working capital and helps us more aggressively develop new products. It also brings us closer to an important strategic partner, Minim, as we move to significantly increase the capabilities of some of our new products. With the financing, we've got new board members, Jeremy Hitchcock and Jonathan Seelig, who are both co-founders of very successful network communications companies. We think that they will be very helpful as we set our course moving forward. You can also see that it's a priority for us to trade on NASDAQ. Figure 9 shows the impact of the financing on our balance sheet items, including pro forma figures that simply assume that the March 31, 2019, balance sheet was improved by $5 million in cash from the private financing announced this week. That cash will be used primarily for working capital and for product-related expenses to grow the company. Now let's look at some of the near- and long-term opportunities for Zoom. On Slide 10, we summarize our Motorola exclusive license. This has evolved over time and our license now extends through 2020 on a wide range of networking products. We believe that we're far down the road to extending our license well past 2020, but we can't guarantee that yet. Slide 11 updates our position in Amazon. Recently, our share of cable modem sales has been around 25%. We've got an unusually high number of Amazon issues recently, typically due to some hiccup in the giant Amazon machine. The good news is that we keep improving our systems for dealing with Amazon issues and that our Amazon sales and cash flow remain strong. Slide 12 reminds you of some of our important customers. These are the top U.S. retailers of electronics, and we're excited about the prospects of growing our shelf space and shelf position this quarter. With that, I'd like to turn it over to Joe for some discussion on our sales channels. -------------------------------------------------------------------------------- Joseph Lee Wytanis, Zoom Telephonics, Inc. - President & COO [3] -------------------------------------------------------------------------------- Thanks, Frank. Slide 13 summarizes some of our near-term sales channel goals, starting with increased storefront sales in Q2 2019. We've made excellent progress with a major retailer that will result in increased product placements this quarter. In the service provider channel, we are focusing our initial attention on Tier 2 and 3 cable operators in the U.S., Canada and Latin America. To reach these operators, we are forming relationships with key distribution partners and industry organizations. We're excited about the Motorola cellular multi-sensor we began shipping at the end of March and the downstream recurring revenue that, that will provide. It is our full intention to build added features and functionality into our future cable modem, router, WiFi mesh router controllers, extenders and other router products. This includes unique security, network and cloud capabilities that will offer us differentiation in the marketplace. I will discuss this more on the next slide, but certainly a key point is the downstream recurring revenue this will create. As just mentioned, we fully intend to expand our sales presence into international markets, starting with adjacent markets of Canada and Mexico. As I alluded on the previous slide, Slide 14 speaks to the exciting prospect of Zoom teaming up with Minim, whose CEO, Jeremy Hitchcock, just invested $4.1 million in our company through his family fund. Having Jeremy on the board and his company, Minim, working closely with us in partnership will create tremendous possibilities for Zoom. At a very high level, it would allow users of Motorola products to easily manage their wireless home network from a Motorola application they will download. The application will give end-users access to parental controls, manage WiFi settings, create usage limits and much more. But that's not all. It will allow our Motorola customer tech support team to provide outstanding customer service support by providing remote network diagnostics and management of home network endpoint devices. Slide 15 summarizes some exciting technology trends that will help drive growth for Zoom. The rollout and adoption of DOCSIS 3.1 for higher downstream and upstream speeds continues. We are developing new DOCSIS 3.1 products with enhanced capabilities. Achieving better in-home WiFi coverage while making it simple to install continues to grow in importance. We embrace open standards, including the support of EasyMesh, and we are developing new mesh products. With the blazing speeds DOCSIS 3.1 can provide, we don't want users constrained by the WiFi throughput. So we are developing products that include WiFi 802.11ax technology. As I mentioned before, we see the need for end-users to have greater control of their home network -- WiFi network -- with easy-to-use network management and security. We intend to include this capability in some of our new products moving forward. Of course, this will provide downstream recurring revenue for us through subscription in cloud services. Faster internet speeds, coverage outside the home and new applications are right around the corner. We continue to put attention on developing new cellular product solutions, with a keen eye on 5G. Finally, we view home security and energy management as a very interesting IoT market segment for our company to move to, and we are developing products that include technologies that support this segment. In summary, we are going through some difficult tariff headwinds. However, we're excited about our prospects, and we appreciate your support. We'd now like to open it up for questions.
DAP-U.v/XPLT: XPEL Announces Listing on Nasdaq; Registration Statement on Form? 10 Declared Effective by SEC SAN ANTONIO--(BUSINESS WIRE)--July 17, 2019--XPEL, Inc.
(TSXV: DAP.U) (“the Company”), a global provider of protective films and coatings, today? announced that its registration statement on Form 10 has ???been declared effective by the U.S. Securities and Exchange ?Commission (“SEC”) and the Company’s common stock will begin trading on the Nasdaq Stock Market (“NASDAQ”) effective with the opening of trading on July 19, 2019. Shares of the Company’s common stock will trade under the symbol “XPEL.” In connection with its NASDAQ listing, the CUSIP number for the common stock has been changed to 98379L100.
XPEL’s shares will begin trading under the new CUSIP on the TSX Venture Exchange and commence trading? on NASDAQ on July 19, 2019 under the new CUSIP. Shareholders who hold a physical stock certificate are advised to tender their original certificate to the transfer agent at their earliest convenience in order to receive a new certificate.
No action is required to be taken by shareholders who hold their shares with a bank or broker with respect to the NASDAQ listing and CUSIP change. A Form 10 registers existing shares with the SEC without offering any additional shares for sale.
The Company is now subject to the reporting requirements of the Securities Exchange Act of 1934 and will file periodic reports such as Form 10-Qs, Form 10-Ks and Proxy Statements with the SEC.
Ryan Pape, President and Chief Executive Officer of XPEL, commented, “Our listing on NASDAQ is an exciting milestone for our Company that we’ve been considering and working toward for quite some time. As a Texas-based company, it makes sense for XPEL to trade in the U.S. as an SEC registered company, and we believe this move will enhance our visibility in the marketplace, expose our Company to a larger audience of investors and ultimately increase liquidity and shareholder value.”
The NASDAQ is the world's largest electronic stock market, listing approximately 3,600 public companies. The exchange trades more shares per day than any other U.S. equities market. It is also among the world's best-regulated stock markets, employing sophisticated surveillance systems and regulatory specialists to protect investors and provide a fair and competitive trading environment
They're not happy with the bottom line either, during the call they said $1.5 million of expenses were one time, non cash charges associated with the acquisition.
The CEO was particularly more upbeat about their licensing, Development and Consulting businesses.....I still think something big can come from that....even relative to the current value of the company.
Conference Call Scheduled
A conference call to discuss Covalon’s Q2 Fiscal 2019 Financial Results will be held Wednesday May 29th, 2019, at 9:00am EDT. To participate in the call, please dial:
Toll-Free: 833.299.8117
International: 647.689.4535
Conference ID Code: 1599884
Covalon OEM has two Sales Manager jobs posted, the strength in Licensing revenue and Development and Consulting revenues show pretty good progress already, I guess they think now is the time to press the market:
https://www.covalon.com/careers
Covalon Announces Second Quarter Fiscal 2019 Results
Business Wire Business Wire•May 28, 2019
MISSISSAUGA, Ontario--(BUSINESS WIRE)--
Revenue for the three months ended March 31st, 2019, was $13.3 million, up 132%
Gross margin for the quarter ended March 31st, 2019, was 69%
Net loss for the quarter was $0.2 million or $0.01 per share, compared to a loss of $0.4 million or $0.02 per share last year
Conference call scheduled for Wednesday May 29th, 2019
Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV:COV; OTCQX:CVALF), an advanced medical technologies company, today announced its second quarter fiscal 2019 results.
Brian Pedlar, Covalon’s President and CEO, said, “Our second quarter financial performance is on track in executing on our fiscal 2019 plan. Revenue is more than double last year’s second quarter, with growth of 132% and business in the United States accounting for 60% of our revenue in the first half of the year. I am very pleased that Covalon is achieving its strategic objective of increasing our North American business and diversifying away from the Middle East. Combined revenue in the United States is on track to exceed $25 million in fiscal 2019. Sales of the recently acquired AquaGuard product line are growing according to plan and our United States sales force has been engaged in the process of educating our new customer base of 1,500 hospitals on Covalon’s infection prevention products. During the quarter, there were several unplanned items that impacted our overall profitability and a main focus going forward is growing profits in line with our revenue growth.
“During Q2, we continued our deliveries to schedule on the Middle East competitive contracts that we previously announced. We expect deliveries to be more heavily weighted to our fourth quarter ending September 30, 2019, for the remainder of this fiscal year.”
Q2 Fiscal 2019 Financial Results
Revenue for the three months ended March 31, 2019, increased 132% to $13,312,543 compared to $5,727,275 for the same period of the prior year. Gross margin for the three-month period ended March 31, 2019, was 69% compared to 76% for the same period of the prior year. Net loss for the three months ended March 31, 2019, was $232,227 or $0.01 per share, compared to a net loss of $479,082 or $0.02 per share for the three months ended March 31, 2018.
Revenue for the six months ended March 31, 2019, increased 70% to $20,574,029, compared to $12,131,980 for the same period of the prior year. Gross margin for the six-month period ended March 31, 2019, was 67%, compared to 73% for the same period of the prior year. Net loss for the six months ended March 31, 2019, was $2,141,638 or $0.10 per share, compared to a net income of $44,263 or $0.00 per share for the six months ended March 31, 2018.
Conference Call Scheduled
A conference call to discuss Covalon’s Q2 Fiscal 2019 Financial Results will be held Wednesday May 29th, 2019, at 9:00am EDT. To participate in the call, please dial:
Toll-Free: 833.299.8117
International: 647.689.4535
Conference ID Code: 1599884
A recording of the call will be available by calling 855.859.2056 or 404.537.3406 and entering the conference ID code 1599884 from May 29th, 2019, at 12:00pm EDT to June 12th, 2019, at 11:59pm EDT.
Copies of Covalon’s financial statements and MD&A can be obtained on SEDAR at www.sedar.com, as well as the Investor Relations tab of the Company’s website at www.covalon.com.
About Covalon
Covalon Technologies Ltd. researches, develops, and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products, and services address the advanced healthcare needs of medical device companies, healthcare providers, and individual consumers. Covalon's technologies are used to prevent, detect, and manage medical conditions in specialty areas such as infection control, vascular access, surgical procedures, advanced wound care, and medical device coatings. To learn more about Covalon, visit our website at www.covalon.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including completion of integration of the AquaGuard acquisition, the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
3M to buy Acelity wound care business for about a 4.5 P/S multiple:
https://amp-ft-com.cdn.ampproject.org/v/s/amp.ft.com/content/0b32ca20-6cc6-11e9-a9a5-351eeaef6d84?amp_js_v=a2&_gsa=1&usqp=mq331AQCCAE%3D#referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fwww.ft.com%2Fcontent%2F0b32ca20-6cc6-11e9-a9a5-351eeaef6d84
Big changes ahead! Company moving headquarters to Charlotte, North Carolina. I think there's probably more to this than is being said at this point.
Hydromer Announces Advancement of Manufacturing Capabilities with Relocation to North Carolina
GlobeNewswire
April 24, 2019
Branchburg, NJ, April 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Hydromer Inc. (HYDI) announced today it will be moving its operations to the Charlotte, North Carolina region. Hydromer’s current facilities in Branchburg, New Jersey, built by the company in 1981, were recently sold. The company is eagerly anticipating relocation of its headquarters this summer.
Hydromer:Hydromer Announces Advancement of Manufacturing Capabilities with Relocation to North Carolina
Hydromer:Hydromer Announces Advancement of Manufacturing Capabilities with Relocation to North Carolina
More
Hydromer, a 39-year old company, is a leader in the field of developing high-performance polymers and surface coatings that are lubricious (slippery), condensation controlling, and hydrophilic (work well in liquid environments). The company’s solutions have been successfully adopted for use in advanced medical devices, aerospace components, personal care products, and for other applications by many of the world’s leading companies. The move to NC is part of Hydromer’s blueprint to continually augment its capabilities so it can provide even more mission-critical technologies and services to its many medical, industrial, and green chemistry customers and markets.
“Hydromer’s new headquarters and manufacturing facility will be specialized, more flexible, and adaptive in design to capture operational efficiencies and enable a quicker customer response time,” says Martin C. von Dyck, Hydromer’s Executive Vice President of Operations. “It will feature modular production elements, empowering more agile and leaner productivity, therefore allowing our company to adapt and change much faster to meet its diverse customer requirements.”
The Charlotte NC region has been a focus of Hydromer’s relocation and growth-oriented business strategy for quite some time. Knowing that the area is a well-established international business hub with over 1,000 international firms and is bustling with an exciting culture of growth and talent, proved captivating. The region’s position as a growing talent hub, its competitive business climate, and North Carolina’s consistent ranking as one of the top U.S. states for business partly due to one of the lowest corporate income taxes in the country, were also factors in the company’s relocation decision. Another reason for relocation came in the form of data provided by the Charlotte Regional Business Alliance. The organization details that the plastics manufacturing industry is 85 percent more concentrated in the Charlotte region than the national average, with over 10,000 people working in the sector. Hydromer continues to build relationships with companies in the plastics industry, as many of its products and research and development initiatives are a natural fit for partnership initiatives.
“We are very excited about Hydromer coming to our area,” says Bill Dusch, Mayor of the city of Concord, which is in the greater Charlotte area. “Their highly inventive polymer-based products and manufacturing processes will create high quality jobs that will fit in well with our community.”
Hydromer looks to a future in the Charlotte area where it can continue to manufacture its portfolio of legendary performance enhancing surface modification technologies while also pioneering new generations of safe and environmentally friendly products in partnerships with top companies all around the world.
About Hydromer
Hydromer, Inc. is an innovative ISO 9001:2015 technology- focused company engaged in the business of inventing, developing, patenting, licensing, manufacturing and selling hydrophilic polymer-based products for commercial markets including Medical Device, Pharmaceutical, Biotechnology, Industrial Plastics and Cosmetic and Personal Care. Hydromer also provides highly specialized research & development and medical coating services to industry through its FDA registered and ISO 13485:2016 certified subsidiary.
Some nice new ideas there to research, this is why I still check back here, not to "wade" through hundreds of useless posts of self-deluded broad market prophecies.
In any case, I wrote-up HYDI on the MicrocapClub a few months ago. I'll share it over on the HYDI board.
FAT/FCCG: Okay, so it was an April Fool's joke....and apparently fairly successful marketing stunt to get people talking about the brand, as well as their less fattening menu options....I guess I took the bait:
https://finance.yahoo.com/m/e6b98e67-dc1a-34cb-b7a7-f98d6ef79488/fatburger-pulls-fast-one%3A.html
FCCG: The valuation disparity with FAT is still at about 150% here and Andy Wiederhorn had mentioned in an interview last year that he was considering a transaction that would bring FCCG and FAT together this year, so I figured I'd take a look again.
The company appears to be taking a big gamble here rebranding their primary brand that built its reputation over the past 70 years, Fatburger, as Skinnyburger....no, it's not April Fool's Day yet:
https://finance.yahoo.com/news/fatburger-goes-skinny-branding-skinnyburger-120000849.html
Ironically, when I entered FCCG into Google the third result is: The Florida Council? on Compulsive Gambling.
Maybe the Skinnyburger is their best selling product, but will franchisees be excited and willing to finance major renovation expenses for signage and who knows what else?
VLE.to/PNWRF: CEO Interview as London listing and other catalysts are on the horizon:
https://www.proactiveinvestors.co.uk/companies/stocktube/12789/valeura-energy-to-list-in-london-as-it-looks-to-grow-resource-base-and-production-in-turkey-12789.html
VLE.to/PNWRF: The company is finally going to have lots of new information to report soon. The new board member today isn't the most exciting news, but she brings expertise in strategic transactions and might suggest the company is looking to make a strategic move before they get into the capital intensive development of the BCGA asset to begin next year. Her LinkedIn reads: "My experience includes domestic and international acquisitions and divestitures of exploration and production assets, including their financing, and negotiating and preparing host government hydrocarbon contracts, exploration and production licences, joint venture agreements, farm-in and farm-out arrangements, and other upstream investment agreements."
Over the next couple of months there should also be updates about the anticipated London exchange listing, Devipinar-1 reaching TD soon, re-entering Yamilak for more detailed flow and fluids analysis, & Inanali-1 flow testing.
Confirmation from Devepinar-1 20 km away and/or high yields from Inanali-1 should drive new interest in this situation, particularly if the stock is available domestically in London.
OT: Wade is why I stopped looking and participating here, it's exhausting "wading" through so many posts of minute by minute analysis of broad market noise and empty idioms and revisionist story-telling. I have given up on trying to find anything of interest or value here anymore. If I was interested in any of this, I would turn the idiot box on to Jim Cramer Mad Money nonsense.
Wade should get his own board, he posts disproportionately more posts about stuff no one else seems to care about or respond to and has destroyed the value of what we used to have as the core group of people from the Value Microcaps board.
I think there's a core group of investors here who are still microcap investors and interested in in-depth analysis of individual companies and opportunities.
Now I search through the post histories of the few members I have member marked, but think we could have a more robust conversation if someone would limit tho posting of nonsense.
Based on the wording of their gaurantee, it sounds like they will be installing equipment on the customers premises:
* Guarantee – If your department isn’t completely satisfied within the initial 12 months of use, VirTra will cancel the contract and pick-up the equipment – no questions asked.
OT: Strangely enough, E-Trade phased out International trading a year or two ago, but continued providing real time quotes for 8 international markets for free...and that was working for me since I trade gray stocks for simplicity at tax time.
Level 1 was all I was using at E-Trade, I just need to see what the bid/ask is in Canada and use the exchange rate to make sure I'm not getting robbed by the arbitrage....it's usually just a fraction of a penny difference.
I'm a slow and steady investor...although the ability to place iceberg bids for some of the smaller stocks I take large positions in would also be nice.
Really, I just need international quotes and a broker that allows me to trade in gray and dark stocks in the US....as I hear Ameritrade and Schwab are restricting access to pink sheets and the like.
Maybe IB is the way to go....although the 0.005 per share commission can get expensive on some of the lower priced stocks I buy. Who do you use?
OT: jtomm, thanks, but E-trade said they stopped providing international quotes, but they will report my complaint and might take action on my suggestion to return to the previous version if enough people complain.
In other words, I want the quotes from their native markets where most of the liquidity occurs, for BIOYF it's RX.v on the TSX venture exchange, for CVALF its COV.v on the venture, and PNWRF is VLE.to on TSX. E-trade never did get up to speed with the new CSE exchange.
I'm E-Trade Elite.....which gives me instant access to customer service and E-Trade Pro and stuff.....but I just want the freaking international quotes.....not sure why E-Trade is moving backwards with international markets.
OT: Who is the best discount broker? E-trade quit providing real time quotes for foreign markets as of today, which is something I absolutely need as someone who trades Canadian stocks through their pinks sheet equivalents (BIOYF, CVALF, PNWRF, etc.), I need to get real time quotes of these stocks on their native markets when placing trades to see the best bid/ask on the native exchange.
I also trade some gray and dark stocks and don't want a broker that's been limiting access to this end of the market, E-Trade would occasionally make me call in an order (most recently to buy NMUS), but would still allow me to buy the stock at the online trade commission rate....they just needed to give me fair warning of the company's filing status or what not.
I find PHUN an interesting study in the markets current appetite for consumer intelligence applications, eCommerce type of businesses, and low float IPOs. I think it bodes well for the coming public offering of Conversion Point/Innuvo (INUV), although INUV is a bit of a broader consumer Artificial Intelligence (AI) application with less mobile emphasis than PHUN, the Conversion Point/Innuvo combination has a much larger current sales footprint than PHUN and could seemingly justify greater valuations.
Long INUV awaiting the business combination IPO transaction.
This should do it. eom.
So I-Hub requires me to make 4 new posts. eom.
I want to update the financial tables in the I-Box. eom.
Comments in today's earnings PR about the new middle east contracts delivery schedule being weighted toward the second half of 2019 isn't exactly the affirmation the market was looking for either IMO.
Covalon Announces Fiscal 2018 Year-End Results and Plans for Fiscal 2019
Business Wire
December 17, 2018
MISSISSAUGA, Ontario--(BUSINESS WIRE)--
- Fiscal 2018 profitable with $0.07 EPS on $26.7 million of revenue.
- Fiscal 2019 contracted Middle East revenue expected to be approximately $30 million, more than double the contracted revenue of fiscal 2018.
- Fiscal 2019 acquisition of AquaGuard more than doubles United States revenue to approximately $25 million before internal growth.
- Europe and Latin America has the potential to provide some additional revenue upside in fiscal 2019 and beyond.
Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, today announces its fiscal 2018 year-end results and plans for fiscal 2019.
Brian Pedlar, Covalon’s President and CEO, said, “I am so incredibly pleased with our major achievements during fiscal 2018, which included:
Winning competitive contracts worth $100 million dollars to provide Covalon products over a three-year period;
Working on and completing the acquisition of U.S.-based AquaGuard, with its complementary products and experienced sales force capable of selling Covalon’s products directly into their network of hospitals;
Signing a major contract with one of the world’s largest medical device companies to license Covalon’s proprietary medical coating technologies, which resulted in a $4.5 million upfront license payment followed by the additional payment of many millions more for product development fees, milestone payments, and royalties; and
Entering new banking and credit facilities in the amount of $17 million with HSBC Bank Canada, which are anticipated to allow the Company to achieve its near-term acquisition and growth strategies.”
Mr. Pedlar continued, “Covalon today is a significantly improved company compared to one short year ago. The milestones we achieved this year will ensure our accelerated success not just for fiscal 2019, but for many years to come. Our unique suite of life-saving products is beginning to demonstrate real commercialization success, in large part due to the efforts of our dedicated and driven staff.”
Fiscal 2018 Financial Results
Revenue for the year ended September 30, 2018 was $26.7 million, 2% or $586,415 less than the prior year. Gross profit was 74% in fiscal 2018, compared to 77% in fiscal 2017. Net income was $1.6 million or $0.07 per share (diluted), compared to $1.8 million or $0.09 per share (diluted) in fiscal 2017. However, net income for fiscal 2018 included approximately $1.1 million of one-time costs for the acquisition of AquaGuard that were expensed as incurred during the year. No similar costs were incurred in fiscal 2017.
Contracted revenue in the Middle East is derived from bulk purchases throughout the year which are not equally recognized in each of the Company’s quarterly results. The decline in revenue from the Middle East in fiscal 2018 was simply due to the timing of the shipments under contracts. Revenue from the $100 million series of Middle East contracts will begin to materially impact revenue in fiscal 2019 and beyond.
Fiscal 2018 saw the Company end the year with a strengthened and more diversified revenue base. In fiscal 2018, approximately 49% of revenue was from the Middle East, compared to 80% in fiscal 2017. By comparison, revenue in the United States for the year was up 175% year-over-year to $12.8 million, which included increases in product revenue and development services, licenses, and royalties.
Product revenue in the United States was up over 80% in fiscal 2018, compared to the previous year. This increase mostly offset the lumpy year-to-year shipment fluctuations from the Middle East contracts. No revenue from the acquisition of AquaGuard was recognized in fiscal 2018.
Fiscal 2019 Plans
Middle East contracted revenue in fiscal 2019 is expected to be $30 million, more than double the contracted Middle East revenue in fiscal 2018. Covalon has received the delivery schedule for the Middle East contracts; under this schedule, Management anticipates that the majority of contracted deliveries will be recognized in revenue in the last six months of the fiscal year ended September 30, 2019. These contract awards in the Middle East have resulted in additional potentially accretive opportunities for consideration by the Company, and Management is pursuing these additional revenue opportunities.
Fiscal 2019’s acquisition of AquaGuard more than doubles United States revenue to approximately $25 million before internal growth. AquaGuard specializes in infection protection products that protect surgical incisions, intravenous (IV) sites, catheters, PICC lines, and other dressings from water and other moisture while a patient showers. The acquisition transforms Covalon’s United States market access by adding a United States-based sales force with the capability to sell many of Covalon’s products into over 1,500 hospitals and clinics in the United States.
Covalon’s efforts to enter the European and Latin American markets are expected to begin to contribute to the Company’s revenue in fiscal 2019. The Company has a small direct sales team in the United Kingdom that has begun to convert acute care facilities and primary care Clinical Commissioning Groups (“CCGs”) to using Covalon’s advanced wound care products. As well, Covalon’s European team is entering selected other countries in Europe and beginning to compete for advanced wound care business. Covalon is currently selling into seven countries in Latin America and anticipates that key markets like Mexico, Chile, and Argentina will grow as the Company’s products begin to compete and win business in these regions.
Conference Call Scheduled
A conference call to discuss Covalon’s Fiscal 2018 Year-End Financial Results will be held Tuesday December 18, 2018 at 9:00am EST. To participate in the call, please dial:
Toll-Free: 833.299.8117
International: 647.689.4535
Conference ID Code: 4481616
A recording of the call will be available by calling 855.859.2056 or 404.537.3406 and entering the conference ID code 4481616 from December 18,2018 at 12:00pm EST to December 25, 2018 at 11:59pm EST.
NB2111 is why I hold for dollars, from a 7/2017 PR: Dr. Kenneth Sufka, professor of Psychology and Pharmacology and Research Professor with the National Center for Natural Products Research at UM stated, “We have been able to demonstrate that NB2111 was able to deliver analgesia comparable to morphine, which has been implicated in the current global opioid abuse epidemic. The research team then moved to the next step using a validated animal model of addiction to opioids to assess the anti-abuse potential of NB2111 as a therapeutic. We look forward to presenting the data this fall.” ....and from a 11/2017 PR: "Additionally, NB2111 displayed abuse-deterrent activity in a validated animal model of oxycontin addiction."
The NB2111 molecule has blockbuster potential in pain management and anti-addiction markets, I look forward to seeing them continue to advance this drug candidate through their pipeline:
http://www.nemusbioscience.com/investor-relations/investor-news/investor-news-details/2017/Nemus-Bioscience-Announces-Presentation-of-NB2111-Analgesic-and-Anti-Addiction-Data-at-NIH-Sponsored-Cannabinoid-Conference/default.aspx
Biosynthetic cannabinoids aren't new or unique, Teewinot announced a patent award Tuesday for their biosynthetic technology:
https://finance.yahoo.com/news/teewinot-life-sciences-corporation-announced-125500106.html
NMUS has previously announced a licensing agreement with Teewinot: http://www.nemusbioscience.com/investor-relations/investor-news/investor-news-details/2016/Nemus-Bioscience-Announces-License-of-Biosynthetic-Technology-from-Teewinot-Life-Sciences-to-Manufacture-its-Proprietary-Cannabinoid-Molecules/default.aspx)
Numus had isolated some very interesting cannaianoids that show efficacy in pain relief and anti-addiction properties:
http://www.nemusbioscience.com/investor-relations/investor-news/investor-news-details/2017/Nemus-Bioscience-Announces-Presentation-of-NB2111-Analgesic-and-Anti-Addiction-Data-at-NIH-Sponsored-Cannabinoid-Conference/default.aspx
Biosynthetic cannabinoids making the news today, Nemus licensor Teewinot got a patent award:
https://finance.yahoo.com/news/teewinot-life-sciences-corporation-announced-125500106.html
(Teewinot license news from NMUS: http://www.nemusbioscience.com/investor-relations/investor-news/investor-news-details/2016/Nemus-Bioscience-Announces-License-of-Biosynthetic-Technology-from-Teewinot-Life-Sciences-to-Manufacture-its-Proprietary-Cannabinoid-Molecules/default.aspx)
....or if you'd like to pay a lot more to have a horse in this race, CRON signed on with Ginko:
https://www.bloomberg.com/news/articles/2018-09-04/cronos-partners-with-ginkgo-to-develop-lab-grown-cannabis
This is why I have held this stock for five years, the medical device coating business is a business I think that holds great potential for further growth AND PROFITABILITY.....royalty streams flow significantly to the bottom line!
Covalon Announces Receipt of First Payment Under New License Agreement
Business Wire Business Wire•August 20, 2018
MISSISSAUGA, Ontario--(BUSINESS WIRE)--
Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, today announced that it has received $3.5 million USD under a new license agreement (“Agreement”) with a large global medical company (“Medical Partner”). The Agreement provides the Medical Partner with certain rights to use Covalon’s patented antimicrobial medical coating technology with some of its devices. The Agreement was entered into in the ordinary course of business of Covalon and is subject to confidentiality provisions.
In addition to the $3.5 million USD which has today been received by Covalon, the Medical Partner has also agreed in the Agreement to pay to Covalon:
$5 million USD in additional license fees as certain technology development milestones are achieved;
Fees for Covalon technology development services and equipment; and
Ongoing royalties on worldwide product sales (subject to regulatory clearance of the products).
“This new license agreement is yet another milestone for Covalon,” said Brian Pedlar, Covalon’s Chief Executive Officer. “It is a validation of Covalon’s patented medical coating platform, which helps prevent infections and saves lives in many clinical settings.”
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit www.covalon.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180820005116/en/
Contact:
Covalon Technologies Ltd.
Brian Pedlar, 905.568.8400 x 233
CEO
bpedlar@covalon.com
Toll free: 1.877.711.6055
www.covalon.com
Twitter: @covalon
COVALON ANNOUNCES ANOTHER MILESTONE QUARTERLY PROFIT ON EXCELLENT THIRD QUARTER FINANCIAL RESULTS
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Aug. 28, 2018-- Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, is pleased to announce today another milestone quarterly profit of $2.2 million on excellent third quarter financial results.
Third Quarter Summary Financial Results
Revenue for the three months ended June 30, 2018 was $7,933,676, up 34%.
Gross margin for the quarter ended June 30, 2018 was 82%, compared to 79% last year.
Net income for the quarter was $2,198,467 or $0.10 per share, compared to $541,346 or $0.03 per share last year.
Current cash balance in excess of $5 million and a new $17 million credit facility
CEO Comment
Mr. Brian Pedlar, Covalon President and CEO, stated:
“Our third quarter financial results are very strong and are in line with our expectations. We have continued our solid financial growth this past quarter, with revenue of $7.9 million and profits of $2.2 million, which are another milestone for Covalon. We have worked hard to successfully deliver revenue from different Covalon product offerings as well as from different geographical markets, which clearly demonstrates that our business model is diverse and our strategy of operating in complementary markets creates a stronger company.
“As this quarter’s financial performance demonstrates, we are not solely dependent on one market for our growth and prosperity. Licensing and royalty revenue for the quarter was very strong and reflects new and existing contracts we have undertaken with customers in a number of medical verticals. We have a very strong team focused on developing innovate products for large medical companies under development agreements, that create stable ongoing revenue from development services, license fees and royalties. We recently announced the receipt of the first license fee of US$3.5 million under a new license agreement, which will deliver additional license fees of US$5 million, fees for development services and equipment and ongoing royalties on worldwide product sales, once they are cleared for sale.
“Our revenue in the United States has increased significantly this quarter compared to last year. Revenue continues to grow from our IV Clear vascular access dressings and our ColActive Plus advanced wound care dressings in the United States where we currently operate without our own dedicated sales force – a situation the Company is working to address through acquiring our own sales team.
“We continue to deliver products under the competitive contracts previously announced in the Middle East. Revenue fluctuates under these contracts as our products are delivered to the institutions funded by the ministries of health that participated in the competitive contracts. Management of the Company believes, based on its ongoing communications with the Company’s partner in Saudi Arabia, that the reported dispute between the Government of Canada and the Government of Saudi Arabia will not have a material negative impact on Covalon’s business in the Middle East.
“I am encouraged by our continued progress in Europe and Latin America. We are receiving very positive feedback on our CovaWound line of advanced wound care products from hospitals and clinicians in the United Kingdom, as more hospitals and clinical commissioning groups purchase and use our products. We are also seeing strong interest by Latin American clinicians in the benefits of our full range of products, as we begin to secure business under small competitive contracts in several countries in the region. Over the coming months we anticipate continued steady growth in Latin America as more countries like Mexico, Argentina and Chile contribute to our revenue growth. We are also making great progress in advancing our strategy to grow Covalon through acquisitions that will provide us a direct sales force to expand our business in the United States, in addition to our current internal efforts.
“We continue to prudently invest in new product development, establishing distribution channels in new markets, and expand our already talented Covalon team. A number of the new products we introduced last year in our expanded CovaWound advanced wound care line have begun to contribute to our revenue this year to date. We have prudently begun to increase headcount in selected areas of operations, sales and marketing and research and development compared to last year at this time.
“Our balance sheet remains very strong and we currently have over $5 million of cash in the bank. We recently announced that Covalon entered into a new acquisition and operating banking credit facility with HSBC Bank Canada that provides the Company with up to $17 million of new credit facilities that will allow Covalon to fund its acquisitions plans, which are proceeding well, in addition to its inventory and working capital needs as the Company grows. We believe this banking agreement is in the best interests of shareholders as it provides growth capital to Covalon without the need for the dilution resulting from the issuance of shares.”
Conference Call Scheduled
A conference call to discuss Covalon’s financial results will be held Tuesday August 28, 2018 at 9:00 a.m. EST. To participate in the call please dial:
Local/International: 647.689.4535
North American Toll-Free: 833.299.8117
Conference ID Code: 1897026
A recording of the call will be available by calling 855.859.2056 or 404.537.3406 and entering the conference ID code 1897026 from August 28th 2018 12:00pm EST to September 4th 2018 11:59pm EST.
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180828005403/en/
Source: Covalon Technologies Ltd.
Covalon Technologies Ltd.
Brian Pedlar, 905-568-8400 x 233
CEO, Covalon Technologies Ltd.
Email: bpedlar@covalon.com
Toll free: 1-877-711-6055
www.covalon.com
Twitter: @covalon
COV.v: Covalon Announces Another Milestone Quarterly Profit on Excellent Third Quarter Financial Results
Business Wire Business Wire•August 28, 2018
MISSISSAUGA, Ontario--(BUSINESS WIRE)--
Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, is pleased to announce today another milestone quarterly profit of $2.2 million on excellent third quarter financial results.
Third Quarter Summary Financial Results
Revenue for the three months ended June 30, 2018 was $7,933,676, up 34%.
Gross margin for the quarter ended June 30, 2018 was 82%, compared to 79% last year.
Net income for the quarter was $2,198,467 or $0.10 per share, compared to $541,346 or $0.03 per share last year.
Current cash balance in excess of $5 million and a new $17 million credit facility
CEO Comment
Mr. Brian Pedlar, Covalon President and CEO, stated:
“Our third quarter financial results are very strong and are in line with our expectations. We have continued our solid financial growth this past quarter, with revenue of $7.9 million and profits of $2.2 million, which are another milestone for Covalon. We have worked hard to successfully deliver revenue from different Covalon product offerings as well as from different geographical markets, which clearly demonstrates that our business model is diverse and our strategy of operating in complementary markets creates a stronger company.
“As this quarter’s financial performance demonstrates, we are not solely dependent on one market for our growth and prosperity. Licensing and royalty revenue for the quarter was very strong and reflects new and existing contracts we have undertaken with customers in a number of medical verticals. We have a very strong team focused on developing innovate products for large medical companies under development agreements, that create stable ongoing revenue from development services, license fees and royalties. We recently announced the receipt of the first license fee of US$3.5 million under a new license agreement, which will deliver additional license fees of US$5 million, fees for development services and equipment and ongoing royalties on worldwide product sales, once they are cleared for sale.
“Our revenue in the United States has increased significantly this quarter compared to last year. Revenue continues to grow from our IV Clear vascular access dressings and our ColActive Plus advanced wound care dressings in the United States where we currently operate without our own dedicated sales force – a situation the Company is working to address through acquiring our own sales team.
“We continue to deliver products under the competitive contracts previously announced in the Middle East. Revenue fluctuates under these contracts as our products are delivered to the institutions funded by the ministries of health that participated in the competitive contracts. Management of the Company believes, based on its ongoing communications with the Company’s partner in Saudi Arabia, that the reported dispute between the Government of Canada and the Government of Saudi Arabia will not have a material negative impact on Covalon’s business in the Middle East.
“I am encouraged by our continued progress in Europe and Latin America. We are receiving very positive feedback on our CovaWound line of advanced wound care products from hospitals and clinicians in the United Kingdom, as more hospitals and clinical commissioning groups purchase and use our products. We are also seeing strong interest by Latin American clinicians in the benefits of our full range of products, as we begin to secure business under small competitive contracts in several countries in the region. Over the coming months we anticipate continued steady growth in Latin America as more countries like Mexico, Argentina and Chile contribute to our revenue growth. We are also making great progress in advancing our strategy to grow Covalon through acquisitions that will provide us a direct sales force to expand our business in the United States, in addition to our current internal efforts.
“We continue to prudently invest in new product development, establishing distribution channels in new markets, and expand our already talented Covalon team. A number of the new products we introduced last year in our expanded CovaWound advanced wound care line have begun to contribute to our revenue this year to date. We have prudently begun to increase headcount in selected areas of operations, sales and marketing and research and development compared to last year at this time.
“Our balance sheet remains very strong and we currently have over $5 million of cash in the bank. We recently announced that Covalon entered into a new acquisition and operating banking credit facility with HSBC Bank Canada that provides the Company with up to $17 million of new credit facilities that will allow Covalon to fund its acquisitions plans, which are proceeding well, in addition to its inventory and working capital needs as the Company grows. We believe this banking agreement is in the best interests of shareholders as it provides growth capital to Covalon without the need for the dilution resulting from the issuance of shares.”
Conference Call Scheduled
A conference call to discuss Covalon’s financial results will be held Tuesday August 28, 2018 at 9:00 a.m. EST. To participate in the call please dial:
Local/International: 647.689.4535
North American Toll-Free: 833.299.8117
Conference ID Code: 1897026
A recording of the call will be available by calling 855.859.2056 or 404.537.3406 and entering the conference ID code 1897026 from August 28th 2018 12:00pm EST to September 4th 2018 11:59pm EST.
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180828005403/en/
Contact:
Covalon Technologies Ltd.
Brian Pedlar, 905-568-8400 x 233
CEO, Covalon Technologies Ltd.
Email: bpedlar@covalon.com
Toll free: 1-877-711-6055
www.covalon.com
Twitter: @covalon
The company has never submitted an IND to the FDA to enter into a Phase I study for NB111, or for any of their drug candidates, so implying they were "ostensibly getting rejected" is completely false and misleading.
It is quite clear from past PRs that all past work with Albany Molecular related to synthesis and supply for pre-clinical laboratory and animal testing and to refine their delivery methods.
True the company hasn't made it explicitly clear what the differences were in each PR, but a little nuanced reading goes a long way. Here is the history of press releases in chronological order:
NEMUS Bioscience, Inc. Signs Agreement With Albany Molecular Research Inc. (AMRI) to Manufacture Cannabinoid-Based Active Pharmaceutical Ingredients
02/08/2016
COSTA MESA, CA and ALBANY, NY -- (Marketwired) -- 02/08/16 -- NEMUS Bioscience, Inc. (OTCQB: NMUS), a biopharmaceutical company focused on the discovery, development, and commercialization of cannabinoid-based therapeutics for significant unmet medical needs, today announced an agreement with Albany Molecular Research Inc. (NASDAQ: AMRI) for the development and manufacture of NEMUS' proprietary cannabinoid-based active pharmaceutical ingredients. The agreement will capitalize on AMRI's process chemistry expertise in the synthesis and formulation of NEMUS' proprietary prodrug of tetrahydrocannabinol (THC). This molecule forms the basis of NB1111, NEMUS' compound in development for the treatment of glaucoma, and NB1222, for the management of chemotherapy-induced nausea and vomiting (CINV).
"Advancing our lead therapeutic candidates into the manufacturing stage is a major milestone for our company," commented Brian Murphy, M.D., CEO-CMO of NEMUS. "This permits us to move from testing prototypic formulations to having the ability to accumulate API-based data in pre-clinical and clinical studies, which is pivotal for submission to regulatory agencies."
"AMRI looks forward to working with NEMUS to bring this new class of cannabinoid-based therapies through the developmental process," said Christopher Conway, Senior Vice President of Discovery and Development Services at AMRI. "AMRI will focus on manufacturing synthetic versions of NEMUS' proprietary prodrug of THC at our U.S. Drug Enforcement Administration (DEA) approved facilities."
Dr. Murphy concluded: "Eye disease and the oncologic-related palliative care markets are in need of new classes of compounds to benefit patients. There is a significant need for better treatments for patients suffering from a variety of diseases including adverse events related to their cancer care. We are excited to collaborate with a highly-experienced manufacturer like AMRI, to bring new medications such as cannabinoid-based therapeutics, to these areas of significant unmet medical need."
____________________________________________________________________
Nemus Bioscience Announces Milestones in the Development of Fully Synthetic Clinical-Grade Active Pharmaceutical Ingredient (API) for Drug Candidates NB1111 and NB2111 and Formulation Contract with AMRI and Catalent Pharma Solutions
12/01/2016
COSTA MESA, CA / ACCESSWIRE / December 1, 2016 / NEMUS Bioscience, Inc. (NMUS) announced that work performed in conjunction with its API contract developer and manufacturer, Albany Molecular Research Inc. (NASDAQ:AMRI), resulted in a synthetic pathway to manufacture the clinical-grade proprietary prodrug tetrahydrocannabinol-valine-hemisuccinate (THCVHS), including the ability to scale-up production. In addition, the purity of the API achieved a standard exceeding FDA requirements of being at least 99.5% pure. Nemus has subsequently contracted with Catalent Pharma Solutions (Catalent) to begin formulation work associated with NB2111, the candidate product for managing chemotherapy-induced nausea and vomiting (CINV).
"Reliable and consistent API manufacturing is a major step necessary for human testing, regulatory approval and ultimate commercialization of a candidate molecule. The Nemus cannabinoid compounds of NB1111, which is intended for the treatment of glaucoma and NB2111, which is intended for managing chemotherapy-induced nausea and vomiting (CINV) both utilize the patented prodrug of THC as the active ingredient," commented Brian Murphy, M.D., M.B.A., CEO and Chief Medical Officer of Nemus. "In preparing for a pre-IND meeting with the FDA, the company is focused on formulation development of NB1111 and NB2111 to meet chemistry-manufacturing-controls (CMC) requirements of the FDA. We are working with Catalent in the formulation process to achieve a clinical-grade delivery of NB2111 in CINV."
"The company is exploring formulation options for the delivery of NB1111 into the eye. Nemus anticipates this process to be completed in the first quarter of 2017 resulting in a collaboration with an ocular drug delivery formulator that will help bring the candidate- glaucoma therapy forward to satisfy regulatory requirements for human testing," stated Dr. Murphy.
___________________________________________________________________
Nemus Bioscience Signs Development Agreement with Nanomerics to Advance Ocular Formulation of NB1111 for the Treatment of Glaucoma Using Proprietary Molecular Envelope Technology (MET)
03/20/2017
Download this Press Release (PDF 68 KB)
COSTA MESA, CA -- (Marketwired) -- 03/20/17 -- NEMUS Bioscience, Inc. (OTCQB: NMUS) announced that the company has signed a development agreement with Nanomerics Ltd. of the United Kingdom, to develop a topical ocular formulation of tetrahydrocannabinol-valine-hemisuccinate (THCVHS), the prodrug of THC, which is the active component of Nemus drug candidate NB1111 being developed for the treatment of glaucoma. The aim of the agreement is to conduct initial studies assessing the preparation of clinical-grade eye drops using the patented Molecular Envelope Technology (MET) developed by Nanomerics. Work under the agreement will commence on a future date to be determined by Nemus in connection with its development plans and corporate objectives.
"Historically, it has been challenging to formulate hydrophobic, or fat-soluble, cannabinoid molecules for efficient and predictable entry into the body, especially the eye," stated Brian Murphy, M.D., M.B.A., Nemus CEO and Chief Medical Officer. "Nemus has found the MET technology profile to be supportive of the work performed to-date using the more hydrophilic THCVHS which was designed to cross physiologic barriers more efficiently. Developing this formulation is an important step before conducting human studies."
"Nanomerics looks forward to working with Nemus on creating medicines that address the medical need for the improved treatment of glaucoma. Nemus, as the only cannabinoid company we are aware of with a complement of prodrugs and analogues of THC and CBD, is uniquely placed to potentially develop these for use in multiple forms of ocular disease," commented Professor Andreas Schätzlein, co-founder and CEO of Nanomerics. Nanomerics' CSO and co-founder Professor Ijeoma Uchegbu explained, "We feel that the MET platform will help NB1111 deliver in the clinic what has already been shown in several animal studies. Namely, penetration into multiple chambers of the eye, a non-opaque eye drop, and a neutral-pH at delivery to lower the risk of eye irritation which is an adverse event seen with some established therapies in glaucoma."
Dr. Murphy noted, "Should we find success in formulating NB1111 using Nanomerics' MET, we could also examine its application using our proprietary Nemus ophthalmic analogue of CBD (NB2222). Our company objective is to establish strategic partnerships utilizing a diverse cannabinoid-based ocular platform to address multiple types of eye disease."
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UPDATE: Nemus Bioscience, Inc. Signs Agreement with Albany Molecular Research Inc. (AMRI) to Manufacture Cannabinoid-Based Active Pharmaceutical Ingredient for Glaucoma
08/01/2018
Long Beach, CA, Aug. 01, 2018 (GLOBE NEWSWIRE) -- Nemus Bioscience, Inc. (OTCQB: NMUS), focused on the development of cannabinoid-based therapeutics to address global medical indications, especially those of unmet medical need, today announced an agreement with Albany Molecular Research Inc. for the development and manufacture of Nemus' proprietary cannabinoid-based active pharmaceutical ingredients (API). The agreement will capitalize on AMRI's process chemistry expertise in the synthesis and formulation of Nemus' proprietary prodrug of tetrahydrocannabinol (THC). This molecule forms the basis of NB1111, Nemus' compound in development for the treatment of glaucoma.
"Advancing our lead therapeutic candidates into the API manufacturing stage is a major milestone for our company and is pivotal for initiating human studies," commented Brian Murphy, M.D., CEO-CMO of Nemus. "Cannabinoid-based therapies have the potential to revolutionize glaucoma therapy by not only lowering intraocular pressure, but by exerting a direct neuroprotective effect on the cells of the optic nerve, thereby preserving vision.”
"AMRI looks forward to working with Nemus to bring this new class of cannabinoid-based therapies through the developmental process," said Christopher Conway, Senior Vice President of Discovery and Development Services at AMRI. "AMRI will focus on manufacturing synthetic versions of Nemus' proprietary prodrug of THC at our U.S. Drug Enforcement Administration (DEA) approved facilities."
Just bought some TSLA Sept 21 '18 $300 puts.....seems they are due for a dose of reality soon...but you never know.
Any ideas what cooling of US-EU trade war talk could put in play tomorrow?
I have to be honest, that interview with Dr. Murphy struck me as disappointing and uninspired. While the scientist part of me can appreciate his credentials and his scientific approach to the conversation, the investor part of me is questioning why the company thought this interview was news worthy, as it barely scratched he surface of the potential in this company's pipeline. Would the new CFO be a more articulate and enthusiastic spokesperson for the company? Would the company consider doing another more comprehensive interview with SNN or another outlet to repair the damage done by this?
For instance, he described their other areas or research as "associated with Glaucoma", making it sound like NMUS is a one-trick pony on glaucoma.
Past PR's seem to strongly indicate that the other indications they are pursuing are actually large and separate markets, such as "NB2111 displayed abuse-deterrent activity in a validated animal model of oxycontin addiction." or “We have been able to demonstrate that NB2111 was able to deliver analgesia comparable to morphine, which has been implicated in the current global opioid abuse epidemic." These quotes from past PR's actually indicate much bigger target markets such as: The global pain market, estimated to be more than $30 billion (Transparency Market Research, 2016), is in need of alternatives to opioid-based medicines," commented Brian Murphy, MD, MBA, the Nemus CEO and Chief Medical Officer.
He doesn't even do a very good job of describing why a "prodrug" formulation is so much better than raw medical marijuana other than to say "patented", I would have appreciated if he got more detailed about the ability to isolate the medicinal effects of the hundreds of different individual compounds and concentrate those constituents for a more efficacious treatment than could be provided by raw plant material, or concentrates.
Oooh, I just noticed I got post #420!!! eom