I love it when things work out!
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Great opportunity to build a larger position. I thought $1.35 was a compelling price. Added more at 1.05, 1.06, and 1.10.
Glad to see SPYR is beginning to be noticed by some new investors.
Welcome to the board! ... and from the sounds of your posts welcome to the shareholder's list. ??
SPYR's new story is just beginning to be told. The acquisition of Applied Magix and the execution of their business plan is encouraging. Companies that tell you what their going to do and then follow through by doing it will gain and hold investors' attention.
I don't think this is going to be an overnight wonder, but I do think the infrastructure is being built to become a profitable venture. The website and press releases suggest that in time they'll be introducing some products of their own design. With our CEO's experience and skillset with Apple Home Kit market, it will be interesting to see what these will be.
PRETTY SOLID RELEASE International MarketsPress Release | 03/31/2021
Bidi Vapor Completes Regulatory Approval to Enter Four International Markets
Company to enter U.K., Australia, New Zealand, and Russian markets; CEO will host a stockholder update call on Wednesday, April 14
PR Newswire
GRANT, Fla., March 31, 2021
GRANT, Fla., March 31, 2021 /PRNewswire/ -- Kaival Brands Innovations Group, Inc. (OTCQB: KAVL) ("Kaival Brands," the "Company," or "we"), today announced that Bidi Vapor, LLC ("Bidi Vapor"), the manufacturer of the products that Kaival Brands acts as the exclusive global distributor of, successfully completed the regulatory process to enter four new, significant markets. Bidi Vapor's primary offering, the BIDI® Stick, which is intended exclusively for adults 21 and over, is the fastest-growing closed system disposable electronic nicotine delivery system ("ENDS") in the U.S. The tamper-resistant BIDI® Stick is also the only ENDS on the market with an ecologically friendly, mass-recycling program called Bidi® Cares, and is the subject of a comprehensive Premarket Tobacco Product Application (PMTA) now under review with the U.S. Food and Drug Administration (FDA).
?
Bidi Vapor Completes Regulatory Approval to Enter Four International Markets
Bidi Vapor recently successfully received pre-market authorization from the United Kingdom's regulatory body, the Medicines and Healthcare products Regulatory Agency (MHRA) to sell and market Bidi Vapor products through Kaival Brands in the United Kingdom. All eleven of the BIDI® Stick products are now listed on the MHRA website (subject to the 2% nicotine limitation and other U.K. restrictions). Bidi Vapor also obtained notifications with the Tobacco Products Directive (TPD) and received its European Community Identification number (ECID). Bidi Vapor has also recently received the following new certifications (WEEE, UKCA-ROHS, UKCA-EMC and CB60335 and 62133) for its BIDI®? Stick battery to be in full compliance with U.K. regulations, which are designed for the protection of the public health. Moreover, Bidi Vapor has successfully completed all necessary certifications and finished the process for distribution approvals to market and sell products in Russia, New Zealand and Australia. Kaival Brands' Chief Executive Officer, Niraj Patel, said, "We are extremely excited to roll out Bidi Vapor products in four significant, new markets for us. Once Kaival Brands solidifies local distribution agreements, we will begin to sell and market our full scope of products. We believe our first sales in each of these new regions will occur within the next six months with UK being the first."
Kaival Brands will showcase its premium-quality BIDI® Stick at the VOXPO virtual trade show, to be held on April 28–30, and sponsored by London-based Vapouround magazine. The virtual event will introduce Bidi Vapor's products to distributors and retailers in the United Kingdom who have yet to discover a high-quality device within the disposable ENDS segment. "We believe the U.K. market is ready to embrace a high-end, aesthetically sophisticated design, premium vape experience, which only Bidi Vapor can deliver for adult tobacco users," Patel said.
The U.K. market alone is a very robust market for ENDS. In 2019, ENDS revenues were estimated at roughly $2.5 billion U.S. dollars and is projected to reach $3.9 billion by 2023, according to Statista Research Department. According to a Prescient & Strategic Intelligence firm report, the ENDS market will grow at a 19.6% CAGR for the next few years. Furthermore, a recent National Statistics study estimates 37% of the entire U.K. population has tried an ENDS at least once. The growth in the U.K. market has been predominantly driven by consumers' desire to switch from traditional, combustible cigarettes to ENDS, the National Statistics study reported.
"We believe the BIDI® Stick will be a welcomed entry into the U.K. market as long time adult cigarette smokers look to transition to ENDS products," said Patel, who is also president and CEO of Bidi Vapor. "While the VOXPO conference is our first international show, we anticipate participating in similar events in Australia, New Zealand, and Russia. We see ample opportunity in these new markets, as the success we've seen in the United States shows us, that once consumers discover an e-cigarette that can provide them a consistent, premium experience, they will welcome the option."
Mr. Patel continues, "Furthermore, as we continue to develop our domestic and now global distribution footprint, we remain very confident in our full year fiscal 2021 revenue guidance of $400 million to $450 million. Our market share gains continue despite the larger presence of "bad actors" (selling unregulated, counterfeit products) in the market as well as Chinese dumping of cheap, non-regulated products. Bidi Vapor and Kaival Brands continues to go above and beyond all recommended guidelines to protect adult consumers and continuously adopt higher standards to prevent the product from getting in the hands of our youth."
Mr. Patel, the Company's President, Chief Executive Officer, and Chief Financial Officer, owns and controls Bidi Vapor. As a result, Bidi Vapor and the Company are considered under common control and Bidi Vapor is considered a related party.
STOCKHOLDER UPDATE CALL
The Company will be hosting a stockholder update call on Wednesday, April 14, 2021 at 4:30 p.m. EDT to discuss the Company's recent accomplishments and expected goals for the next three months. In addition to providing an update, Mr. Patel, the Company's Chief Executive Officer, will also be available for a short Q&A. Additional information on how stockholders can access and participate in this update call will be separately provided.
ABOUT VOXPO
For its inaugural launch last year, the VOXPO event gathered users from more than 80 countries who made nearly 24,000 booth visits, 15,000 document views, and 9,200 video views over a three-day "live" broadcast. The rolling events offer, among other things, live webinars and meetings with 80 vaping exhibitors and 45 CBD exhibitors via text, audio, or video chat in real time. VOXPO event organizers will resume their series of "live" trade shows in the spring of 2021, with Bidi Vapor's participation extending for a year.
For more information about the VOXPO event, visit https://voxpo.vfairs.com.
ABOUT BIDI VAPOR
https://www.otcmarkets.com/stock/KAVL/news/Bidi-Vapor-Completes-Regulatory-Approval-to-Enter-Four-International-Markets?id=295907
SPYR closed strong.
For party is the day or new subsidiary www.appliedmagix.com was down. I thought maybe it would add a retail site at done point today.
I just checked and it loaded up but the "shop" tab was still under construction. My guess is that it should come up at some point over the weekend or maybe early next week.
Not sure what you guys are taking about. The stock traded more volume than usual and closed at 53 cents.
I could trade it at both TDAmetitrade and Fidelity.
At one point we traded over 62 cents and had 20K bids at 49 cents and higher.
I came looking to the board to see if anyone heard anything... Like whether the CTO had been lifted.
I'm still hopeful.
Thanks. It's seems he's finally putting his credentials to work.
I'm not absolutely sure, but I think there's some money to be have here.
Looks to me like SPYR has a plan and is delivering on it by doing what they said they were going to do.
If they keep doing this, I suspect they will find a growing number of investors jumping on board to see how far and how high this journey will take us.
Here's to hoping!
It would be really nice if the CTO would get lifted soon.
I've not spoken with management in a while, but I think they are as frustrated (or more so) than anyone else... hence the board and officer resignations.
On the bright side with Biden Administration canceling oil and gas leases on public lands, I would think privately owned and existing oil and gas properties will become more valuable.
Not to mention that oil was recently flirting with $70 per barrel... investing in oil and gas will probably be becoming more in fashion.
I could be wrong, but right now I think buying up these low-priced shares was a good move.
FTMR has always had a pretty tight share structure. If the CTO gets lifted and the company can move forward with its business plan, I think we will see a substantial appreciation in share price.
And then factor in... the big bids that are still hanging around are probably indicative that there is somewhat of a short position. If I bid for shares at 35 and to 45 cents... the bids also creep up.
Guess time will tell!
NEWS... SPYR Technologies Announces First Shipment of HomeKit-Centered Products Is on Its Way to Applied MagiX for Sale
GREENWOOD VILLAGE, CO / ACCESSWIRE / March 18, 2021 / SPYR, Inc. dba SPYR Technologies (OTC PINK:SPYR), a technology company that through its subsidiary, Applied MagiX, Inc., develops and resells Apple® ecosystem compatible products with an emphasis on the growing multi-billion-dollar smart home market, today announced that the first shipment of HomeKit-centered products is on its way to Applied MagiX for sale and distribution.
Applied MagiX expects this first shipment of products to arrive within 15 to 30 days. "After vetting a number of products, we are very excited to have the first batch of HomeKit-centered products, which includes HomeKit Secure Video cameras and related accessories, on its way to us now," said Applied MagiX CEO, Dr. Harald Zink.
He continued, "This is just the first of many expected product shipments, and we are confident that these products will complement any SmartHome as well as any home that is in the process of becoming a SmartHome. As part of our revenue strategy, we plan on adding more products as we continue our search for high-quality SmartHome products that we think consumers will love - while we continue development of our proprietary and branded products."
After the first shipment clears customs, the products will be available for sale via the Applied MagiX online store, which will be announced and launched shortly.
https://www.otcmarkets.com/stock/SPYR/news/SPYR-Technologies-Announces-First-Shipment-of-HomeKit-Centered-Products-Is-on-Its-Way-to-Applied-MagiX-for-Sale?id=294276
Not sure about your math. I counted 36 days in the least 130 days that there was more volume than today.
I think the highest volume day was 689k... a month or so ago.
It seems to me your anti-Chris Nelson bias is keeping your from seeing things objectively.
Like it or not QSAM it's becoming something remarkable. I've already taken my cost off the table and am buckled in for the ride.
Not sure about your math. I counted 36 days in the least 130 days that there was more volume than today.
I think the highest volume day was 689k... a month or so ago.
It seems to me you're anti-Chris Nelson bias is keeping your from seeing things objectively.
Like it or not QSAM it's becoming something remarkable. I've already taken my cost off the table and am buckled in for the ride.
Done. Easy peasy.
QSAM keeps adding links into the chain to almost guarantee success.
They've added top-tier board members and now announce signing another Option Agreement to license yet another "promising Cancer Drug therapy."
Some posters can't see anything good... I have a difficult seeing anything bad.
Go QSAM!!
News Release Today: QSAM Biosciences Seeks to Expand Radiochemical Assets; Signs Option Agreement to License its Second Promising Cancer Therapy
Austin, Texas, March 17, 2021 (GLOBE NEWSWIRE) -- QSAM Biosciences, Inc. (OTCQB: QSAM) announced today that it has signed an Exclusive Option Agreement with IsoTherapeutics Group, LLC to allow the Company a 120-day period to perform diligence and negotiate a worldwide, exclusive license agreement for a pre-clinical staged radiochemical therapy called BetaBrach™.
BetaBrach is a brachytherapy, a cancer treatment where radioactive implants are inserted directly into diseased tissue to eradicate the target tumor. BetaBrach uses beta radiation (Yyttrium-90) chemically formulated to significantly reduce migration to non-targeted healthy tissue. It has been used extensively in numerous small animal laboratory models of cancer as well as in the University of Missouri’s College of Veterinary Medicine to treat large animals with naturally occurring tumors with very promising results. Such therapy could be used to treat many types of cancer in humans, including breast and prostate.
“This is an important step in our strategy to build a pipeline of radiochemical assets to develop and commercialize for critical and high unmet medical needs, such as cancer,” stated Douglas R. Baum, the Company’s CEO and Co-Founder. “Delivering a precise and personalized dose of BetaBrach directly to the targeted tumor has the potential to be an optimal treatment option for a broad base of cancer patients, as we believe it can also prevent the debilitating side effects and systemic toxicity associated with current treatments such as chemotherapy.”
The option to license BetaBrach follows the Company’s strategy used to acquire the worldwide rights to CycloSam® (Samarium-153 DOTMP) in 2020 from an IsoTherapeutics affiliated company whose founders created Quadramet® (Samarium-153-EDTMP), one of the first FDA approved and commercially available radiopharmaceuticals.
https://www.otcmarkets.com/stock/QSAM/news/QSAM-Biosciences-Seeks-to-Expand-Radiochemical-Assets-Signs-Option-Agreement-to-License-its-Second-Promising-Cancer-Ther?id=294067
Good DD links.
Saw the press release. Sounds good.
I think they need to hire a full-time CFO. The Company needs someone keeping tabs on finances and filings. That they're six months into a reverse merger and still haven't managed to get their Ticker Symbol changed is pretty sad.
From GBBT latest 10-Q,
"On January 8, 2021, we received a notice from FINRA that as a result of not having filed this 10-Q timely FINRA has denied processing for the requested name and trading symbol change. The Company has 30 days to appeal this decision, or it will have to institute a new application."
I expect this is becoming a growing concern for the company as well. I suppose from an investment opportunity, this has allowed a few of us to acquire more shares at a lower price than we would have been able to if the name change had happened sooner.
I continue to be hopeful about the future of R3 SCORE but would like to see some more progress.
Go R3!!
Thanks for posting. I appreciated hearing this background story.
Wow. Best link. Thanks.
I don't think FTMR is a lost cause.
Someone pointed out the trendline of FTMR's stock price. It's pretty sad and as I mentioned, it's been pretty grueling. Fortunately, graphs only record what has happened in the past and don't really provide a reliable picture of what might happen in the future. I think most of us buy shares because we think they will appreciate in value in the future. If everything had gone well and we had hit the desired milestones, we would certainly not be the 25 cent stock we've become. Who knows what's going to happen in the future?
I guess I'm a contrarian when it comes to companies like this. I believe Fortem still has a future. Is that a judgment call? Sure. Is that hope unfounded? I don't think so.
Here's what I see:
1. Fortem Resources continues to retain control of some pretty expansive and potentially valuable properties.
2. Billionaire Marc A. Bruner put a number of his own properties into FTMR. A couple of others (Angela Mainardi and Jaime Melo) also put their properties into Fortem Resources. The owners of these properties hold almost 60% of the outstanding shares. Add management and this total rises to 70%. I remember hearing claims that if these properties could be tested and proven they could potentially be worth billions. I don't think the potential value of these properties has changed.
3. The Cease Trade Order (CTO) was transparently reported and explained. Up until that point, they had been fully reporting and up to date. I remember hearing that uplisting was to the OTCQX and perhaps higher was a possibility.
A fellow investor said to me as far as he could tell, the company has done nothing wrong. They had fully audited filings and were changing from one accounting firm to another, but the former auditor wouldn't sign off on their work. Yes, THEY WOULDN'T SIGN OFF ON THEIR OWN WORK. Crazy.
Despite the failure of their former accounting firm, in an effort to get the CTO lifted, FTMR had their new accounting firm review, reaudit, and then refile their prior quarterly and annual filings. They've pretty much done all they can do.
4. The Alberta Stock Exchange, I suppose in part due to COVID, has not been very helpful. So far as I know, they have not taken any action or made the decision to lift the CTO. I've heard FTMR hired attorneys to try and resolve the matter, but it has been slow going. I believe at some point there has to be some resolution to the matter.
5 Encouragingly, the Outstanding Shares have not increased significantly in the last 4 years.
"As of July 20, 2020, there were 122,571,156."
"As of October 15, 2019, there were 122,571,156 shares of common stock outstanding."
"As of August 31, 2018 120,771,156 common shares (117,872,458 at February 28, 2018).
6. From what I can tell, current and past management have not been receiving much for wages but have mostly been working for the future value and eventual success of the company. I think the resignation of the board members and officers of the company was a demonstration to the Alberta Stock Exchange of the negative impact their inaction is having on the company.
7. And lastly, there have been some surprisingly large bids lately. Over the last month, it's not been unusual to see bids for 50K or even a $100K. However, last Friday there were bids for 701K shares (one for 400K and another for 301K) and today there's been a persistent bid for 350K shares. I'm not sure why, but it makes me wonder.
(FWIW, I placed a bid at 25 cents and caught some shares.)
Sounds to me like QSAM is continuing to add heavy hitters to their board of directors and development team.
Dr. Charles L Link definitely qualifies. He's been active in multiple biotech companies and has been a part of bringing numerous drugs to market. He will also serve as the companies "Medical Director."
Here's the Dr. Baum and Company think about Dr. Link:
“Chuck brings extensive experience managing critical research and development programs, leading breakthrough drug approval efforts, and creating significant shareholder value for both publicly-traded and private companies,” said Douglas R. Baum, the Company’s CEO and Co-Founder. “As we enter our next phase of growth, we expect that Chuck’s corporate leadership and drug development expertise will be critical components to driving our success.”
I can't imagine a more qualified or potentially beneficial person to bring on board.
And what does our newest Director, Dr. Link think about CycloSam, QSAM's initial drug candidate??
“The Company’s primary drug candidate, CycloSam® (Samaium-153 DOTMP), shows great promise for treating several highly underserved oncological needs, including potentially primary bone cancers mostly affecting children and young adults. I’m excited about the opportunity to help the Company advance its strategy and development plans as we enter clinical trials this year.”
NEWS 2/16/2021 QSAM Biosciences Appoints Charles J. Link, Jr., M.D., Experienced Biotech Executive and Innovator, to Board of Directors
Austin, TX, Feb. 16, 2021 (GLOBE NEWSWIRE) -- QSAM Biosciences Inc. (OTCQB: QSAM), a company developing next-generation nuclear medicines for the treatment of cancer and related diseases, announced today that it has appointed Charles J. Link Jr, M.D., to its Board of Directors effective February 15, 2021. In addition to his role on the Board, Dr. Link will serve part-time as the Company’s Medical Director.
“Chuck brings extensive experience managing critical research and development programs, leading breakthrough drug approval efforts, and creating significant shareholder value for both publicly-traded and private companies,” said Douglas R. Baum, the Company’s CEO and Co-Founder. “As we enter our next phase of growth, we expect that Chuck’s corporate leadership and drug development expertise will be critical components to driving our success.”
“I look forward to working with Doug and the great team at QSAM Biosciences,” stated Dr. Link. “The Company’s primary drug candidate, CycloSam® (Samaium-153 DOTMP), shows great promise for treating several highly underserved oncological needs, including potentially primary bone cancers mostly affecting children and young adults. I’m excited about the opportunity to help the Company advance its strategy and development plans as we enter clinical trials this year.”
Dr. Link brings decades of biotech and drug development experience to QSAM. He currently serves on the executive committee of the Board of Directors at NovaScan Inc., a clinical-stage company focused on cancer detection; and is the founder and President of biotech startup Syncromune. Previously, Dr. Link was the CEO, CSO, Chairman, and founder of NewLink Genetics, a NASDAQ-listed immunotherapy company focused on developing novel immuno-oncology product candidates.
During his tenure at NewLink, Dr. Link led a series of collaborative transactions totaling hundreds of millions of dollars with Merck, Roche and the United States government. He also oversaw the collaboration with Merck to develop EVERBO, the first Ebola vaccine to receive FDA approval.
Prior to founding NewLink Genetics, Dr. Link was an attending physician at the National Cancer Institute. He has authored more than 150 peer-reviewed papers. He previously received funding from the National Institute of Health, the National Cancer Institute, the American Cancer Society, and others. Dr. Link received an M.D. from Stanford University, and he attended the Air Force Academy.
Concurrently with the appointment, the Company accepted the resignation of Scott S. Whitney, a Board member since 2016. “We have been honored and greatly served by Scott’s term on our Board of Directors. He was instrumental in helping our transition into biosciences, and during his five years on our Board, he consistently added important insight, perspective, and overall value to our work. Scott is a leader in the environmental and waste-to-value sectors, and a true professional every respect,” stated Christopher Nelson, fellow Director, and Company General Counsel.
About QSAM Biosciences:
QSAM Bioscience, Inc. holds the worldwide license for CycloSam® (Samaium-153 DOTMP), a clinical-stage novel radiopharmaceutical meant to treat different types of bone cancer and related diseases. QSAM’s initial technology is Samarium-153 DOTMP, aka CycloSam®, a clinical-staged bone targeting radiopharmaceutical? developed by IsoTherapeutics Group LLC, leaders in the nuclear medicine space who also developed FDA-approved and commercially available Quadramet® (Samarium-153 EDTMP), indicated for pain palliation. CycloSam was assigned to IsoTherapeutics Group’s subsidiary, IGL Pharma, Inc.
CycloSam® has already demonstrated preliminary safety and efficacy in animal studies and a single patient FDA-cleared successful human trial performed in 2020. This nuclear technology uses low specific activity Samarium-153 (resulting in far less europium) and DOTMP, a chelator which is believed to eliminate off-target migration and targets sites of high bone turn over making it an ideal agent to treat osteosarcoma or other bone metastases. Osteosarcoma is the most common malignant bone tumor among children and adolescents. Because of its ability to deliver radiation to the skeletal system, it is also believed to be an effective agent to perform bone marrow ablation as pre-conditioning for bone marrow transplantation. This drug candidate utilizes an FDA approved radioisotope combined with a novel chelant that has demonstrated increased efficacy and decreased side effects in animal models. Further, CycloSam® utilizes a streamlined, just-in-time manufacturing process. Given these factors, management believes there is a strong pathway to commercialization.
CycloSam® is cleared by the FDA under an investigator initiated IND to commence human dosing in patients with osteosarcoma and bone metastasis. CycloSam® was also cleared by FDA and successfully used under a single-patient IND to perform bone marrow ablation prior to allogenic marrow transplantation (BMA/T) in 2020.
Legal Notice Regarding Forward-Looking Statements: This news release contains “Forward-looking Statements”. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to our ability to fully commercialize our technology, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new products and markets, the time and expense involved in such development activities, the ability to secure additional financing, the ability to consummate acquisitions and ultimately integrate them, the level of demand and market acceptance of our products, and changes in our business strategies. This is not an offering of securities and securities may not be offered or sold absent registration or an applicable exemption from the registration requirements.
Contact
Christopher Nelson
General Counsel
cnelson@qsambio.com
https://www.otcmarkets.com/stock/QSAM/news/QSAM-Biosciences-Appoints-Charles-J-Link-Jr-MD-Experienced-Biotech-Executive-and-Innovator-to-Board-of-Directors?id=290060
READING TIME KAVL's 10-K
My initial assessment?? LOOKS PRETTY GOOD TO ME!!
https://www.otcmarkets.com/filing/html?id=14704297&guid=tl6KU6OMvwzoM3h
Just Released 10-K and News Release
Kaival Brands' Q1 Revenue Resumes Upward Trajectory; Management Reaffirms 2021 Revenue Guidance
Completion of packaging revisions reignites growth pattern, executes Nasdaq Application
MELBOURNE, Fla., Feb. 12, 2021 /PRNewswire/ -- Kaival Brands Innovations Group, Inc. (OTCQB: KAVL) ("Kaival Brands," the "Company," or "we"), is the exclusive global distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"). Bidi Vapor's primary offering, the Bidi® Stick, is the fastest-growing closed system vaping product in the U.S. The tamper-resistant Bidi® Stick is also the only vape product on the market with an ecologically friendly, mass-recycling program called Bidi® Cares. Kaival Brands also recently launched the Bidi® Pouch by Bidi Vapor, a tobacco-free nicotine pouch available in six flavors.
The Company's fiscal fourth quarter saw a respite in revenue growth owed solely to Bidi Vapor's decision to do more than is required by the U.S. Food and Drug Administration's ("FDA") Premarket Tobacco Product Application (PMTA) standards with respect to packaging and labeling. While already well within federal standards, Bidi Vapor took additional action to go over and above the FDA's proposed guidelines. To that effect, Bidi Vapor halted production of all its products as it revamped the packaging and labeling of the entire product line, which, in turn, resulted in the Company being limited in the volume of products it could obtain from Bidi Vapor to distribute. Bidi Vapor incorporated suggestions from Kaival Brands' regulatory consultant, Blue Star Strategies, LLC, located in Washington D.C., and its dedicated FDA counsel, Keller and Heckman LLP, also located in Washington D.C., in revamping the packaging and labeling.
The overhaul consisted of changing the names of the product suite to non-descriptive, one-word monikers such as "arctic," "winter," and "solar." Additionally, Bidi Vapor bolstered all safety and hazard warnings on product packaging including the insertion of a leaflet into each Bidi® Stick package that educates consumers on health and battery hazards. Considerable additional efforts to further remove any remaining potential aesthetic and branding that the company considered to be possibly appealing to younger people below the federal tobacco-buying age of 21 were also taken.
This overhaul resulted in a significant loss in revenue opportunity during the fourth quarter of fiscal 2020, as neither Bidi Vapor nor the Company were willing to proceed until these significant changes were complete. Kaival Brands Chief Executive Officer, Niraj Patel, said: "It should be understood, that under no circumstance will Kaival Brands distribute, market, promote, or sell any product that would have deleterious consequences to the community and APPI guidelines – we have created a premium experience assisting current adult cigarette smokers age 21 and older to choose alternative options to traditional, combustible cigarettes. Kaival Brands will never behave in a manner that compromises health or the environment."
With the branding reposition completed, Kaival Brands has successfully restarted its sales and marketing process. Leadership is pleased to indicate the company's revenue growth profile is returning in fiscal Q1 2021 with revenues tracking close to $40 million. It is important to note the company's first quarter ended before a series of significant corporate developments. These developments (as detailed in recent releases) will result in a tremendous augmentation of the company's revenues going forward, Q2 and beyond. Furthermore, current visibility gives management confidence in Q2 2021 revenues being up 300% on a year-on-year basis.
Most importantly, on February 9, 2021, the FDA indicated all 11 Bidi-Vapor PMTA applications received acceptance letters in its PMTA process. The company believes with the recent initial acceptance letters, it will be able to formalize, in short order, additional large distribution agreements, including some comparable in size to the recent agreement with major U.S. wholesale grocery distributor, H.T. Hackney of Knoxville, Tenn. The news of the Hackney distribution agreement, the rollout of its new tobacco-free nicotine pouch, the Bidi® Pouch, and planned product introduction into the European Union (EU) scheduled for May 2021, all provide the company increased confidence in the previously issued revenue guidance range of $400-450 million. Moreover, the company has executed the application for Kaival Brands shares to list on NASDAQ and anticipates the process to be completed in March. Further details on 2021 revenue guidance, as well as a glimpse into 2022 revenues will be provided in early August of 2021.
Mr. Patel, the Company's President, Chief Executive Officer and Chief Financial Officer, owns and controls Bidi Vapor. As a result, Bidi Vapor and the Company are considered under common control and Bidi Vapor is considered a related party.
Based in Melbourne, Fla., Bidi Vapor maintains a commitment to responsible marketing, supporting age-verification standards and sustainability through its Bidi® Cares recycling program. The company's premiere device, the Bidi® Stick, is a premium product made with medical-grade components, a UL-certified battery, and technology designed to deliver a consistent vaping experience. Bidi Vapor is also adamant about strict compliance with all federal, state, and local guidelines and regulations. For more information, visit www.bidivapor.com.
Kaival Brands Innovations Group, Inc., Melbourne, Fla., is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. Our vision is to develop internally, acquire, own, or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation.
Learn more about Kaival Brands Innovations Group, Inc., at www.kaivalbrands.com
Forward-Looking Statements
This press release includes statements that constitute "forward-looking statements" within the meaning of federal securities laws, which are statements other than historical facts that frequently use words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "position," "should," "strategy," "target," "will," and similar words. All forward-looking statements speak only as of the date of this press release. Although we believe that the plans, intentions, and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions, or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such statements.
Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/kaival-brands-q1-revenue-resumes-upward-trajectory-management-reaffirms-2021-revenue-guidance-301227810.html
SOURCE Kaival Brands
Yep... when the stock is moving up, it just takes a bit of patience.
Yeah... with the Public Float being 2,249,135 shares, I agree that the share price could fluctuate quite easily.
Sounds like the company is getting their proverbial ducks in a row. Hopefully, this indicates that we will be hearing and seeing more from them in the days ahead.
I highlighted in the 8-K released today that these three were explicitly added as "Independent directors." I might be mistaken, but I think that is one of the requirements for companies to uplist to higher exchanges.
Guess we'll see.
8-K Release Read Well
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On February 11, 2021, the Company appointed Ms. DeAnna Hoskins pursuant to the Company’s current bylaws to its board of directors effective immediately. She joins the board as an independent director.
Ms. Hoskins has been President and Chief Executive Officer (CEO) of JustLeadershipUSA (JLUSA) from 2018 to present, a national non-profit dedicated to decarcerating the prison population in the United States by educating, elevating and empowering the people and communities most impacted by the criminal justice system. JLUSA’s work includes a focus on systemic racism and driving, amplifying, and sustaining the kinds of policy reform that builds thriving, sustainable and healthy communities. She was Senior Policy Advisor for the United States Department of Justice for corrections and reentry from 2016 to 2018 where she oversaw the planning, direction, management, analysis and allocation of the Second Chance Act and Residential Substance Abuse Treatment programs. From 2011 to 2016, she was the Director of Reentry for the Hamilton County Board of County Commissioners, Office of Reentry in Cincinnati, Ohio (OH). Ms. Hoskins holds a Master of Science Degree in Criminal Justice - University of Cincinnati, Cincinnati, OH (2009), a Bachelor of Science Degree in Social Work - College of Mt. St. Joseph, Cincinnati, OH (2007) and is a Licensed Clinical Addictions Counselor, Indiana Board of Behavioral Health Board.
The Board of Directors has determined that Ms. Hoskin’s background and experience will be beneficial to the Company. Ms. Hoskins has had first-hand experience with the criminal justice system as a formerly incarcerated individual who successfully transitioned back into community and ultimately received a pardon from Ohio Governor Ted Strickland. Her personal history, as well as her career thereafter working with previously incarcerated individuals, will contribute to the enhancement of the Company’s products and services that are designed to benefit underserved communities. The Board believes that Ms. Hoskins will contribute significantly towards the development and marketing of these products and services to major financial institutions, credit monitoring and reporting agencies and other potential customers of the Company.
The Board has determined that Ms. Hoskins meets the independence standards adopted by the Board in compliance with Item 407(a) of Regulation S-K. There are no family relationships between Ms. Hoskins and any director or other executive officer of the Company nor are there any transactions between Ms. Hoskins or any member of his immediate family and the Company or any of its subsidiaries that would be reportable as a related party transaction under the rules of the United States Securities and Exchange Commission. Further, there is no arrangement or understanding between Ms. Hoskins and any other persons or entities pursuant to which Ms. Hoskins was appointed as a director of the Company. Ms. Hoskins will receive no salary or director fees and, as of the date of this Form 8-K, was issued 294,118 shares of unregistered restricted common stock as compensation for joining the Board. Ms. Hoskins is not a “bad actor” under Rule 506(d) of Regulation D under the Securities Act of 1933, as amended, and has not been involved in any legal proceedings that are required to be disclosed under Item 401(f) of Regulation S-K.
On February 11, 2021, the Company appointed Mr. Saad Soliman pursuant to the Company’s current bylaws to its board of directors effective immediately. He joins the board as an independent director.
From July 2017 through the present, Mr. Soliman has been a founding Executive Director of Peace By Piece Inc., a fully comprehensive social services program that includes workforce development programming, workforce reintegration training, cognitive behavioral therapy, holistic wrap-around services and transitional supportive housing for the men and women returning into our communities after any terms of incarceration, institutionalization, or recovery from addiction. From June 2013 to July 2017, he worked at the United States Probation Office, United States District Courts, District of Delaware, in the capacity of Senior Reentry Specialist, Training Specialist, and Program Support Specialist. Mr. Soliman’s education includes an Associate of Science in Business Management with Honors in 2009 from Ashworth College, and a B.A. in Studies in Government Administration.
The Board of Directors has determined that Mr. Soliman’s background and experience will be beneficial to the Company. Mr. Soliman has had first-hand experience with the criminal justice system as a formerly incarcerated individual who successfully transitioned back into community and ultimately received a pardon from Delaware Governor John Carney. His personal history, as well as his career thereafter working with previously incarcerated individuals, will contribute to the enhancement of the Company’s products and services that are designed to benefit underserved communities. The Board believes that Mr. Soliman will contribute significantly towards the development and marketing of these products and services to major financial institutions, credit monitoring and reporting agencies and other potential customers of the Company.
The Board has determined that Mr. Soliman meets the independence standards adopted by the Board in compliance with Item 407(a) of Regulation S-K. There are no family relationships between Mr. Soliman and any director or other executive officer of the Company nor are there any transactions between Mr. Soliman or any member of his immediate family and the Company or any of its subsidiaries that would be reportable as a related party transaction under the rules of the United States Securities and
Exchange Commission. Further, there is no arrangement or understanding between Mr. Soliman and any other persons or entities pursuant to which Mr. Soliman was appointed as a director of the Company. Mr. Soliman will receive no salary or director fees and, as of the date of this Form 8-K, was issued 294,118 shares of unregistered restricted common stock as compensation for joining the Board. Mr. Soliman is not a “bad actor” under Rule 506(d) of Regulation D under the Securities Act of 1933, as amended, and has not been involved in any legal proceedings that are required to be disclosed under Item 401(f) of Regulation S-K.
On February 11, 2021, the Company appointed Mr. Ernst Valery pursuant to the Company’s current bylaws to its board of directors effective immediately. He joins the board as an independent director.
After receiving a Bachelor of Science in Urban and Regional Studies in May 2000 from Cornell University, he also received a Master of Public Administration and International Affairs in August 2001 from the same. Mr. Valery received a Master of Science in Real Estate Development from Columbia University in New York in October 2004. He was a Research Affiliate in the MIT Community Innovation Lab at Massachusetts Institute of Technology from 2015 to 2017, and a Mel King Community Fellow from 2016 to 2018 at the same institute.
Mr. Valery’s work experience includes being a principal at Stuart Alexander and Associates, Inc. New York, NY, from 2010 to the present. At SA+A Development he shares overall responsibility for the day-to-day operations and execution of SA+A projects and relationships. Mr. Valery has successfully invested in and developed real estate in Maryland; Washington, D.C.; Pennsylvania; and New York. For the past 10 years, he has been involved with development projects ranging from multi-tenant rental properties, single-family renovations and condominium conversions. From 2001 to the present Mr. Valery has been a principal at Valery Investments Corp. New York, NY. Valery Investments Corp. is a real estate developer and investment advisor that specializes on key emerging markets in core American cities. Through market relationships and a superior understanding of urban planning, EVI Corp. seeks out investments such as condominium conversions, build-to-suit single-family homes, multitenant rental properties, and ground-up developments. EVI Corp. focuses particular attention to in-fill redevelopments which contribute to the revitalization of communities.
The Board of Directors has determined that Mr. Valery’s background and experience will be beneficial to the Company. Having a professional background in Urban Planning, his experience of serving underserved communities often impacted by the criminal justice system will provide a unique perspective. The Company’s operating business, R3 Score, has wide-case business utility, which includes the real estate sector. Mr. Valery’s experience and expertise offers the Company strategic insights as it explores potential new customers in this vertical. Additionally, Mr. Valery will offer guidance and support in assisting the Company in its engagements with municipalities across the U.S.
The Board has determined that Mr. Valery meets the independence standards adopted by the Board in compliance with Item 407(a) of Regulation S-K. There are no family relationships between Mr. Valery and any director or other executive officer of the Company nor are there any transactions between Mr. Valery or any member of his immediate family and the Company or any of its subsidiaries that would be reportable as a related party transaction under the rules of the United States Securities and Exchange Commission. Further, there is no arrangement or understanding between Mr. Valery and any other persons or entities pursuant to which Mr. Valery was appointed as a director of the Company. Mr. Valery will receive no salary or director fees and, as of the date of this Form 8-K, has not been issued common or preferred stock. Mr. Valery’s company, Metropolitan Investment Trust, LLC is the holder of a convertible note, having an outstanding principal balance of $25,428.08 at February 1, 2021, which was assumed by R3 Score Technologies, the operating business of the Company. This note is presently convertible into 691,168 shares of the Company’s unregistered restricted common stock. Mr. Valery is not a “bad actor” under Rule 506(d) of Regulation D under the Securities Act of 1933, as amended, and has not been involved in any legal proceedings that are required to be disclosed under Item 401(f) of Regulation S-K.
All director appointees have consented to serve as such and will serve until the earlier of the next Annual Meeting of stockholders or until their successors are elected and qualified or their death, resignation or removal.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GLOBAL BOATWORKS HOLDINGS, INC.
Date: February 12, 2021
By: /s/ Laurin N. Leonard
Laurin N. Leonard, Chief Executive Officer
Two Encouraging Articles about KAVL and its Future!
https://emerginggrowth.com/kaival-brands-kavl-where-theres-smoke-theres-fire/
And a REDIT String that probably explains recent action:
https://www.reddit.com/r/pennystocks/comments/lfc8vj/kaival_brands_kavl_riding_this_penny_into_the/
I'm not a professional... but I think the shares "Held in DTC" is the number of shares in shareholder's hands. These might be held in a certificate or electronic form. I don't believe the float can be more than the Shares Held in DTC.
The Float is the actual number of shares held in shareholder accounts.
You might note that on the OTC Markets page for KAVL, the updated totals don't include the float is dates 6/10/2020, for some reason.
I continue to think they're are still better days ahead!
That would be me (and friends).
I think R3 SCORE had the potential to change the world.
It's my conviction that this company will become a major player in a new evaluation tool that will open the door to millions of potential employees who have a criminal records.
I think R3 SCORE had the potential to change the world.
It's my conviction that this company will become a major player in a new evaluation tool that will open the door to millions of potential employees who have a criminal records.
Are you wondering what Global Boatworks is about??
By means of a reverse merger GBBT has become R3 SCORE. What is R3 SCORE?
Here's a simplified presentation of the concept;
Youtube Interview with our CEO (2 Days ago):
INDEED!! Traded 247K shares and up .037 cents or 23%.
Pretty exciting.
Guess we'll have to wait and see what comes next.
NEWS 2/2/2021 American Resources Corporation Acquires Exclusive Rights to Purdue University's Rare Earth Element Innovations, Critical for Clean Energy Technologies
An environmentally safer method of rare earth and other critical material separation and purification using ligand-assisted chromatography for coal, coal byproducts, recycled permanent magnets and Lithium Ion batteries
FISHERS, IN / ACCESSWIRE / February 2, 2021 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of raw materials to the new infrastructure marketplace, today announced that, with the addition of Hasler Ventures LLC, the Company has licensed ligand assisted displacement ("LAD") chromatography patents and knowhow to further expanded its capability in environmentally friendly separation and purification of rare earth elements. These exclusive patents and technologies, developed at Purdue University, are specific to the processing of separated and pure rare earth metals and critical elements from coal byproducts, recycled permanent magnets and lithium-ion batteries. The agreement will enable American Rare Earth LLC (or "ARE"), a wholly owned subsidiary of American Resources Corporation, to further develop and construct a much-needed environmentally safer domestic supply chain of critical materials.
Rare earth elements (REEs) include the 15 elements in the lanthanide series plus scandium (Sc) and yttrium (Y). They are essential ingredients for magnets, metal alloys, polishing powders, catalysts, ceramics, and phosphors, which are important for high-technology and clean energy applications. The global REE market is estimated at approximately $4 billion dollars and growing at 8% per year.
Purdue University President Mitch Daniels commented, "We've long been proud of Professor Wang and her research. If this comes to fruition, it could be a very vital new asset in protecting our country's national security and manufacturing competitiveness."
American Rare Earth's agreements with Hasler Ventures LLC comes in the form of two exclusive licenses: (1) technologies for the separation and purification of rare earth elements from coal, coal byproducts, coal waste and acid mine drainage, utilizing LAD chromatography, and (2) technologies for the extraction and purification of rare earth and critical elements from used or waste permanent magnets and batteries. Both technologies will be used by ARE to further develop its proprietary process chain for domestic commercialization and production of rare earth and critical elements.
LAD Chromatography / Coal Byproducts
The use of LAD chromatography to segregate and purify rare earth and critical elements from coal byproducts is the most cost effective and environmentally safest methods utilized to date. LAD chromatography as designed for rare earth element extraction and purification is a much cleaner and greener purification process compared to conventional solvent-based extraction methods. It has a higher yield, productivity and efficiency allowing for smaller processing volume without the harsh or toxic chemicals. When used to clean up decades of coal waste and coal byproducts, it yields a triple benefit for the environment.
Magnet & Battery Recycling
Waste magnets make an incredibly efficient feedstock for the recycling of magnet rare earth elements including Neodymium (Nd), Praseodymium (Pr), Samarium (Sm), Terbium (Tb) and Dysprosium (Dy), given that they carry an approximate 25-35 wt. % of rare earth oxide, have a very simple mineral composition and are considered a super-grade ore. It is estimated that approximately $3 billion worth of rare earth elements end up in landfills annually given the disposal of end-of-life products. Thus, the recycling and reducing to the pure elements in permanent magnets and batteries from sources such as hard disk drives, electric vehicles, NMR machines and wind turbines significantly reduce waste that goes into landfills, reduces the mining-based environmental impact, and mitigates the supply chain risk.
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Hasler Ventures was formed by Dan Hasler who retired from Purdue University in March 2020. At that time, Hasler Ventures optioned the technology. Hasler served Purdue as executive vice president for communications and previously served five years as president of Purdue Research Foundation where he became familiar with Wang's work.
"Linda has dedicated more than 10 years of research to developing this process and her innovation is one of the most promising and environmentally safer methods to separate and purify rare-earth metals," Hasler said. "There is a lot of interest in this technology because it could support the U.S. domestic supply chain to safely purify this critical resource currently done almost exclusively in China which makes us dependent on them even though we have the raw materials available in the U.S."
Mark Jensen, CEO of American Resources said, "Working with Purdue and Hasler Ventures to commercialize such an impressive suite of technologies that are of major importance to national security and the growth of the electrification marketplace is an honor for our company. Their teams have been nothing short of amazing, as they have fully embraced the need to rapidly scale to a commercial process to produce rare-earth and critical elements from available domestic sources. It is our shared belief that to compete in the world markets and to establish a robust domestic source of rare-earth metals, the United States cannot solely rely on the current costly and environmentally harming methods of solvent-based extraction. Linda Wang's method represents this path."
Dr. Linda Wang, the Maxine Spencer Nichols Professor in the Davidson School of Chemical Engineering at Purdue University, commented, "We're excited about partnering with American Rare Earth and American Resources on the implementation of our research. We look forward to working with their team on the design of a pilot production facility and an eventual full-scale production plant."
In connection with the exclusive patent licenses for its fields of use, American Resources has committed to a three-year sponsored research program with Purdue University and Dr. Wang to further advance the technologies and critical processes. In addition, Dan Hasler of Hasler Ventures LLC will represent American Resources in subsequent sub-licensing and partnership opportunities and as an advisor to the company.
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About American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
We believe the key to a secure domestic supply chain of Rare Earth Metals and strategic independence in Rare Earth Metals from China is the ability to separate, and purify in an economical, environmentally friendly way. Our Purdue University invented and patented Ligand -Assisted Displacement Chromatography offers this capability to U.S producers of both recycled and ore sourced rare earth metals.
About Purdue Research Foundation Office of Technology Commercialization
The Purdue Research Foundation Office of Technology Commercialization operates one of the most comprehensive technology transfer programs among leading research universities in the U.S. Services provided by this office support the economic development initiatives of Purdue University and benefit the university's academic activities through commercializing, licensing and protecting Purdue intellectual property. The office recently moved into the Convergence Center for Innovation and Collaboration in Discovery Park District, adjacent to the Purdue campus. In fiscal year 2019, the office reported 136 deals finalized with 231 technologies signed, 380 disclosures received and 141 issued U.S. patents. The office is managed by the Purdue Research Foundation, which received the 2019 Innovation and Economic Prosperity Universities Award for Place from the Association of Public and Land-grant Universities. In 2020, IPWatchdog Institute ranked Purdue third nationally in startup creation and in the top 20 for patents. The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Contact otcip@prf.org for more information.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
PR Contact
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
AREC@jtcir.com
Company Contact:
Vice President of Corporate Finance and Communications
Mark LaVerghetta
317-855-9926 ext. 0
SOURCE: American Resources Corporation
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https://www.accesswire.com/627162/American-Resources-Corporation-Acquires-Exclusive-Rights-to-Purdue-Universitys-Rare-Earth-Element-Innovations-Critical-for-Clean-Energy-Technologies
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NEWS TODAY 2/1/2021 American Resources Corporation Acquires Additional Equipment to Expand Production
Strength of balance sheet has enabled the Company to be opportunistic in expanding its base of production equipment
Market fundamentals is giving Company comfort in considering expanding accretive production
FISHERS, IN / ACCESSWIRE / February 1, 2021 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of raw materials to the new infrastructure marketplace, today announced that it has acquired additional production equipment to expand its base of carbon production and efficiencies at Perry County Resources as well as prepare for the potential opportunity to bring other complexes online in the future.
The worldwide market for metallurgical carbon is showing strength in terms of long-term fundamental demand as COVID-19 vaccines have begun to be administered. With this, the Company have seen economies begin to prepare and activate economic stimulus to pull their economies forward to a more modern-day economy, which requires a significant infrastructure spend. The Company had the opportunity to acquire this expansive fleet of equipment at a very attractive price, and what it believes to be a fraction of its marketable value given its ability to act quickly due to the strength of its balance sheet.
Thomas Sauve, President of American Resources said, "We have some of the highest quality, lowest cost and longest life assets in the country for producing metallurgical carbon. Our efforts to acquire, restructure and reposition our assets enables us to move swiftly to bring operations online when the market dictates. Given our cost structure and financial flexibility, we are excited to closely monitor the markets and utilize our advantages to expand our production base in the near future. This spread of equipment we have acquired, and the price we paid, showcases our extremely low capex model of accretive expansion of production. We look forward to the years ahead of us and putting this equipment to work."
American Resources Corporation, with its three divisions, American Carbon, American Rare Earth and American Metals is built to leverage the growth of infrastructure and electrification markets that are predicted to see significant expansion over the next decade. The current administration in United States has stated its intention to advance a green economy, which will require substantial infrastructure redevelopment and a significant spend on U.S. produced steel as well as growth in the electric vehicle fleet.
About American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
OLD NEWS 10/28/2022 American Resources Corporation Enters into New Non-Dilutive Credit Facilities for up to $10 Million
Credit facilities are backed by inventory and accounts receivables to provide added flexibility as it expands carbon production at its various complexes
Strength of balance sheet enables Company to access additional low-cost, non-dilutive forms of financing structures
FISHERS, IN / ACCESSWIRE / January 27, 2021 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of raw materials to the new infrastructure marketplace, today announced that it has secured two new credit facilities that can be used to draw against inventories and accounts receivables. The credit facilities can be utilized at the Company's discretion to drive revenues at its Perry County Resources, McCoy Elkhorn and Wyoming County complexes and provide additional flexibility as it executes upon its growth objectives. With an initial ability to draw up to $10 million in expansion financing, both facilities have provisions that enables them to be increased as the Company expands its production and revenue base.
The credit facilities will enable American Resources to further expand its production from American Carbon, American Rare Earth and American Metals while still ensuring a strong liquidity position. The total cost of the facilities are forecasted to represent one of the lowest costs of capital achieved to date for the Company since formation over five years ago. For the inventory facility, the Company is able to draw 80% of the inventory value at a cost of 2% for up to each 120 days outstanding and is subject to standard terms and conditions of the agreements. For the accounts receivable facility, the Company is able to draw 90% of the accounts receivable value at an equivalent 8% APR per year and is subject to standard terms and conditions of the agreements.
Kirk Taylor, Chief Financial Officer of American Resources Corporation, commented, "Being in a position to enter into two traditional credit agreements in today's market environment is a testament to the strength of our Company's financial position and balance sheet. The attractiveness of these credit facilities is that they will result in no equity dilution to our shareholders, they are a low-cost form of capital, provide the Company with additional flexibility as it ramps its production growth, and only incurs interest when, and if, we draw against them at our option. Being able to secure these credit financing facilities opens up additional opportunities to expand our production base at a time when we are seeing the increased demand for our infrastructure related products and with steel prices on the rise. Adding this type of flexibility into our unique, innovative and low-cost operating model will allow us to maximize the return to our shareholders while also enabling us to further our mission of creating additional, sustainable and quality jobs in the communities in which we operate."
American Resources is constantly evaluating opportunities to minimize cost of capital as well as minimize shareholder dilution. These credit facilities supplement the Company's already strong capital position and will be utilized to expand revenue and cash flow throughout 2021. With these flexible credit facilities in-place, and given the Company's current balance sheet strength, the Company does not anticipate the need to access the equity markets to raise additional capital to execute on its current growth plan.
American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
About American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
R3 Score is making it very clear what they have and what they hope to become:
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