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More news today, and some light fist-pounding by the CEO about their prospects. I like where this company is going.
https://ir.resonant.com/press-releases/detail/283/resonant-announces-design-for-new-band-41-hipowertm-now
"This new design is a complement to the previously announced Full-Band, Band 41 filter that was designed to address the challenging requirements of the Chinese market; specifically, applications where high power and low loss are critical. This new part meets the high power handset requirements for both U.S. and China carriers, and due to its ultra-performance, may also be suitable for network infrastructure applications.
The Band 41 filter, with HiPower performance relative to the previously designed Band 41 TDD filter, is considered to be one of the most challenging and complex filters to design. This specialized design requires extremely large bandwidth at 194MHz, as well as the rejection of neighboring WiFi bands to prevent interference, allowing the co-existence of cellular with WiFi. The two key performance metrics that were improved in the HiPower design are lower loss, which increases battery life, and higher power durability, which enables increased coverage.
This new part is being made available by one of our ISN foundry partners who has branded the new filter design and is offering it for OEM sampling and immediate mass production. A Full-Band 41 design allows a single solution to cover the entire operating band, enabling an individual SKU for a global phone model."
That's kinda my point. It just means that they're not at the point where they can formalize terms. So they're announcing nothing. It's a non event. The PR is just air. Hopefully they will wait for tangible progress to issue their next PR.
"Some of these partnering conversations have matured to the point of potentially structuring mutually beneficial licensing agreements."
I didn't realize there was a *point* that is reachable where something becomes *potentially* possible.
Good grief.
Strong close, with daily volume at its second highest all year. Institutionals getting in?
Ouch. This co had so much potential. This is aweful, but indicative of how the markets views the complete lack of ability to sell their IP.
Evolva Holdings
http://www.evolva.com/mission-strategy/
Been following this co for about 5 years. It trades on the Swiss Exchange as EVE, and on the US OTC as ELVAF (although their website only mentions the US-listed ADRs as symbol ELVAY (1 ADR = 10 common shares), so I'm unsure what ELVAF is all about but it's the more liquid of the two US listings.
Today, 1 USD ~ 1 CHF so the prices (SWX:EVE and USOTC:ELVAF) are equal.
They recently completed a very large fundraising and now have about $100MM of cash in the bank, and a newly focused objective on commercialization efforts, as until recently they'd been largely an R&D outfit.
Tons of DD I could post here, but am too lazy for now. IMO a compelling long-term investment (5+ years). The stock price has come down a fair bit over the past few years, and may still see pressure from newly tradeable shares as they hit the market later this month.
For reasons unknown to me, their PR's all have the following clause, so I'm a little leery to paste any of it on iHub as it's a US website.
"This document and the information contained herein are not for publication, distribution or release in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the publication, distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan."
Small notes from today's call (with comparisons to the June call):
. "$390MM of filters under license today" (up from $290MM)
. assuming 7-12% royalties
. equals "roughly $42MM of potential revenue" of the next 9-18 months (up from $20-35MM)
. $13.5MM cash on-hand (up from $9MM, due to recent raises), enough to "carry them into 2H2018"
. expect to be able to "provide guidance on profitability" by EOY
. the Band-41 client PR'd recently, is "targeting tier 1 handset manufacturers in China" and has been sampling already for > 1 month, potential integration into handsets in 6-9 months.
CTO fired for pledging his shares as collateral.
Dumb move. Not sure if this will impact the company though -- their issue is a lack of commercial traction. They need to step up their game fast before their IP moat becomes obsolete.
Still hoping the B-TRAN will be a game changer for the company. Otherwise, I'm starting to think this is just another betamax story.
---
On November 7, 2017, Bill Alexander’s employment as the Chief Technologist of Ideal Power Inc., a Delaware corporation (the “ Company ”), was terminated for cause pursuant to the terms of his employment agreement dated September 16, 2014. The Company recently discovered that Mr. Alexander, at the time that he was an executive officer and director of the Company, pledged shares of common stock as collateral for a personal loan in violation of the Company’s insider trading policy and code of conduct. Under the terms of his employment agreement, Mr. Alexander will not be paid any severance in connection with the termination of his employment for cause.
it's criminal. Clearly insiders sold shares on the market, only to use the funds to buy back in via the PIPE at a discount. In a more just world, they would go to prison. As usual, retail investors (though there are not too many with RDHL I guess) get screwed.
Big picture remains very positive, however. Despite dilution. If you can stomach 40% losses, it's still a hold, IMO.
The PR is clear: this is a smaller, less expensive, more efficient filter for which they expect rapid sales ramp and large sales volumes.
Last conf call they said Q2 we'd start to see revenue ramp, and that institutional investors were very interested in the business. Sounds like a corner is being turned. Huge upside to this stock if things continue like this.
Possible we'll see new 52-week highs in the coming weeks? With the strong news out today, new deals signed recently, and the earnings call on Nov 8 where they'll surely provide more details about revenue ramp, I believe the share price could finally start to move higher.
NEWS: Resonant Announces Availability of Full-Band, Band 41 TDD Filter Available as an ISN® Design In SAW
GOLETA, CA--(Marketwired - October 31, 2017) - Resonant Inc. (NASDAQ: RESN), a designer of filters for radio frequency, or RF, front-ends that specializes in delivering designs for difficult bands and complex requirements, today announced that a licensee has produced a state-of-the-art Full-Band, Band 41 Time Division Duplex (TDD) filter that is required for all handset vendors addressing the China market, using a Resonant Surface Acoustic Wave (SAW) design. Resonant's licensee has also made this Band 41 filter available for sale and is currently sampling to OEMs.
The Band 41 TDD filter is a highly technical and complex design, widely regarded as one of the most difficult filters to design. Typically, in high frequency operation (the maximum passband frequency is 2.69GHz), these designs are restricted to small feature sizes, while the filter must handle high LTE powers because of TDD operation. In addition, this specialized design requires extremely large bandwidth at 194MHz, as well as the rejection of neighboring WiFi bands to prevent interference.
"Not only were we able to create this very complex Band 41 filter design in less than our stated time frame of 12-18 months for an ISN Pilot design, but we did it on a SAW platform, which we believe is the first of its kind in the market," said George Holmes, CEO of Resonant Inc. "We expect this to be a high-volume filter, with the potential for rapid growth due to its use in Asia for LTE. Our customers require increasing complexity and rapidly evolving technology, which Resonant has delivered in the Band 41 filter design using our innovative software, intellectual property, and the capabilities of our experienced team."
"This design is yet another example of how we are focusing on our core business and reducing execution risk as we drive towards royalty revenues," Holmes added. "We continue to collaborate with our customers to reduce the time it takes to bring our designs to market, in an effort to accelerate our receipt of royalty revenues."
The Company believes that the superior performance of Resonant's Band 41 filter design offers several key advantages over competitive filters:
. Full band operation (194MHz) - One part can accommodate all of the Band 41 carriers globally. This is a significant improvement, given that most of the commercially available filters are sub-band, while full band parts are traditionally processed in BAW and FBAR, which is much more expensive.
. WiFi co-existence filter - This filter design results in high rejection to WiFi ( > 35dB). In addition, it allows for operation of TDD cellular and WiFi simultaneously, while also reducing interference.
. Small footprint - With measurements of only 1.3 mm x 1.1 mm, the size of this design translates to less material and lower production costs, which can be passed on to customers.
. HPUE capable - High Performance User Equipment (HPUE) is designed to improve the performance of TDD-LTE Band 41 networks around the world, by allowing higher power operation and therefore improved coverage. This is a current requirement of China Mobile.
Figure 1 compares the measured passband performance of Resonant's Band 41 filter design as compared to the best publicly available Band 41 filter. Lower insertion loss (IL) represents higher performance.
The improved performance over BAW is validation of the capabilities of Resonant's ISN platform. In particular, the accuracy with which the measured performance matches the simulation prior to fabrication (see Figure 2), allows optimization of performance without the need for multiple fabrication iterations.
ref: http://www.marketwired.com/press-release/resonant-announces-availability-full-band-band-41-tdd-filter-available-as-isnr-design-nasdaq-resn-2238904.htm
Van Leeuwenhoeck Issues Initiation of Coverage Research Report on Addex Therapeutics and Estimated ADXN Share Price of CHF 11.5 per Share
1 CHF ~ 1 USD these days
https://www.addextherapeutics.com/investors/press-releases/news-details/article/van-leeuwenhoeck-issues-initiation-of-coverage-research-report-on-addex-therapeutics-and-estimated-a/
Addex Awarded $5.3 Million Grant from US National Institute on Drug Abuse
https://www.addextherapeutics.com/investors/press-releases/news-details/article/addex-therapeutics-adx71441-program-awarded-53-million-grant-from-us-national-institute-on-drug-ab/
Completely agree with you actually, and I didn't mean it to appear otherwise. Any intelligently presented opinions, good AND bad, are very welcome on these boards. Debate and information sharing is what it's all about. So much noise in many place (pumping, bashing).
Thanks for your link and clarification about what is was representing.
Please keep the quality contributions coming.
I'm long RDHL and it's my one of my largest holdings, but I'm not against hearing about or expressing anything negative.
And a translation to English by a computer. I prefer to go with the original English quotes from the company's own PR where their enthusiasm is strong.
"We are greatly encouraged by the top-line results"
"demonstrated a very good safety profile in this study as well as impressive efficacy"
"While not powered for statistical significance of the secondary efficacy endpoints, the study suggested clinically meaningful improvement in both secondary efficacy endpoints of abdominal pain response and overall response "
"The secondary efficacy endpoints results also compared favorably to the absolute difference observed for these endpoints in reported studies of Xifaxan and Viberzi"
As has been said, this is still only a PII, but this emerging biotech company has so many arrows in its quiver, and is starting to generate revenue with commercialized products today, that IMO it's one of the best (de-risked + huge potential) investments around today, for the long-term value investor.
"The breakthrough could someday lead to a new source of the clean-burning fuel"... LOL
Seems like a reply with a famous Warren Buffet quote would be order.
Bekinda "well on it's way to becoming the new standard of care"for IBS-D. Market at $500MM today, projected at $2B by 2026.
Long RDHL. Flip 'em if you like, but I will hold until this is a multi $bn company, which IMO is imminent (3-4 years out).
Agreed. This bodes very well for the study, overall IMO. 104 in one of the most key assets, and they would never risk jeopardizing this Phase II trial. Still a long road ahead, but very encouraging at this point.
Ha, it totally does though. It shouldn't, as nobody who is allowed to trade it should have access to the results, but in reality today's rise is a harbinger of what to expect on next week's call.
Exciting times for RDHL longs.
Very nice. Ballard is the clear leader in this space, and they seem to have many good things happening these days.
Sometimes watching your investment grow (and your predictions come true) is best done in meditative silence.
So nice to see Ballard's stock get some attention. Clearly more than retail stepping in lately. This is, AFAIK, the first time in their long history that they're generating a profit, and they are certainly the most capable and advanced FC supplier on the planet today.
Holding long from here for at least 3-8 more years unless something changes.
I was, and I did. Agreed with all your analysis on this little gem. It now has a strong base, has been hugely de-risked with the Saudi renewal, and enormous long-term potential. Still only a $65MM valuation today. Could easily be 5x that is a couple of years.
NEWS: TIER ONE SUPPLIER IN THE RFFE SUPPLY CHAIN BECOMES FOUNDING MEMBER OF FOUNDRY PROGRAM
GOLETA, CA -- (Marketwired) -- 09/05/17 -- Resonant Inc. (NASDAQ: RESN), a designer of filters for radio frequency, or RF, front-ends that specializes in delivering designs for difficult bands and complex requirements, today announced that it has signed an ISN Foundry Engagement Agreement with a Tier One component vendor and SAW foundry.
The new agreement extends Resonant's solutions platform to include the vendor's capabilities for backend and packaging, including chip scale packaging (CSP) for discrete models, as well as wafer level packaging (WLP) for use in modules. The agreement leverages Resonant's Infinite Synthesized Network® (ISN®) Foundry Program, whose eco-system includes non-captive SAW foundries, as well as backend and packaging partners, enabling the first fabless SAW model that provides an alternative, stable, and secure supply chain for the emerging module market.
"We continue to de-risk our go-to-market strategy by providing alternatives in the mobile supply chain. This agreement with a leading foundry, who is also qualified at tier one vendors, helps extend our fabless filter model eco-system and offers yet another choice to our fabless model customers," said George Holmes, CEO of Resonant. "Working jointly with key partners who are already engaged in supporting the massive filter market will provide yet another significant competitive advantage to our customers."
ref: http://ir.resonant.com/press-releases/detail/271/resonant-signs-first-isn-foundry-engagement-agreement
GOLETA, CA -- (Marketwired) -- 08/31/17 -- Resonant Inc. (NASDAQ: RESN), a designer of filters for radio frequency, or RF, front-ends that specializes in delivering designs for difficult bands and complex requirements, today announced it has signed a new development and licensing agreement with a new customer, who is a leading provider of RF Front End Components.
This new license agreement covers the licensing of five bands for use in modules, four using wafer level packaging (WLP) and one using chip scale packaging (CSP). The agreement will leverage Resonant's ISN® Foundry Program, whose eco-system includes non-captive SAW foundries, as well as backend and packaging partners, enabling the first fabless SAW model that provides an alternative, stable, and secure supply chain for the emerging module markets in Asia. Design acceptance criteria and royalty terms have been agreed upon, but will not be disclosed due to the confidential nature of such agreements.
"Our eighth customer is an established and leading provider of power amplifiers with an extensive customer base in the Asian markets," said George Holmes, CEO of Resonant Inc. "For this new client, we plan to work with a new ISN foundry partner to extend the fabless filter model eco-system. We appreciate our customer's confidence in our ability to design complex and competitive RF front-end filters, and look forward to helping them increase their revenue and drive growth."
ref: http://www.resonant.com/news-awards/press-releases/detail/270/resonant-signs-licensing-agreement-for-five-bands-with
News: Resonant lands an 8th client, with a new development and license agreement.
Strong and consistent delivery from this company.
Based on the last trades, yes. But you're implying that all shareholders would sell their entire holdings for $0.75 today? You are mistaken. Market caps are an illusion.
Ballard has far and away the most robust FC stacks for sale today, with lab and real-world testing beyond millions of operational hours.
They also have first class partners and clients, and have reached the inflection point of cashflow positive. IMO we may well see institutions move back into Ballard in the coming months/years.
Back in 2000 it was a $100+ stock, admittedly based on the hype of FC cars being an imminent success. Nevertheless, there is plenty of room for the share price to run now that the company has turned a corner.
I don't own shares anymore right now, but if you're a buy & hold investor, BLDP seems like a very promising long-term investment today.
Nice prez at Oppenheimer just now by the company. You can hear in their voices how completely psyched and optimistic they are.
Available for reply soon here: https://www.veracast.com/webcasts/opco/technology2017/49209359643.cfm
I don't think it's been so explicitly decided to abandon legacy SWHN shareholders, but I am significantly less optimistic that any commercial success with Kromatix will trickle back down to them. I guess the JV (and more specifically Glass LLC) will reap the lion's share of the profits.
For what it's worth, back in April I had a brief email exchange with Hanbali about my concern for SwissINSO shareholders and lack of SEC filings.
It has just been revealed that one of RESN's clients is Samsung, and a tear-down showed one of their filters is already in a Samsung Galaxy series handset.
HUGE.
SA article here: https://seekingalpha.com/article/4090291-exclusive-teardown-confirms-new-samsung-supplier
Yep, hence the term "overwhelming efficacy" -- this has to be a no-brainer to stop mid-trial. Would be amazing, but not counting on it.
Did anyone listen to the call this morning? It's not yet available for replay.
Great company, seriously attractive stock at any price below $15 IMO. Multiple late-stage trials for potential blockbuster drugs, a pile of cash, revenue ramp already underway... what's not to like?
Someone who holds 250k shares of IPIX is almost certainly already in the "millionaire club". If not, they're very very bold to have such a huge chunk of their net worth in IPIX shares.
Any ideas on today's action?
Some notes from the call yesterday:
. $290MM of filters under license today, which is about 4% of the TAM
. expecting royalties of 10% or higher, though not expecting that all $290MM worth of filters will convert (though a single client with 5 designs under license has commercialized 4 of them already)
. equals roughly $20-$35MM of potential revenue over the next 9-18 months
. 2Q2017 will start to see modest revenue ramp
. they have $18MM in the bank as of end Q1, which is enough cash to support their expected burn through 2Q2018 (excluding revenue contributions)
. institutional investors showing "significant interest"
NEWS: Resonant Signs Licensing Agreement for Two Quadplexers with a New Customer
Fabless Model has the Potential to Disrupt the Supply Chain in China, with New Low Cost Entrants
GOLETA, Calif. -- Resonant Inc. (NASDAQ: RESN), a designer of filters for radio frequency front-ends, or RFFE, that specializes in delivering designs for difficult bands and complex requirements, has signed a licensing agreement with a new customer, who is an established provider of key components for the RFFE market in China.
This new license agreement covers the development and licensing of two Quadplexers that will be designed using a standard Surface Acoustic Wave (SAW) process. The agreement will leverage existing SAW foundry partners, as well as backend and packaging partners, capitalizing on Resonant’s transformative position in enabling a fabless filter supply chain model to provide an alternative, stable and secure supply chain for the emerging module market in China. Design acceptance, milestone payments and royalty terms have been agreed upon, but will not be disclosed due to the confidential nature of such agreements.
“Our seventh customer is an established provider of key components into the Chinese market, servicing an extensive customer base which includes several Tier One handset vendors,” said George Holmes, CEO of Resonant Inc. “Working closely with our existing foundry partners, we are using the fabless model to capitalize on the quickly expanding RFFE market, potentially disrupting the supply chain by enabling new market entrants with the potential for faster design times and lower cost. We’re continuing to gain momentum, as our customers realize the added value of our innovative software, intellectual property, and the capabilities of our experienced team.”
About Resonant Inc.
Resonant is creating software tools and IP & licensable blocks that enable the development of innovative filter designs for the RF front-end, or RFFE, for the mobile device industry. The RFFE is the circuitry in a mobile device responsible for the radio frequency signal processing and is located between the device’s antenna and its digital baseband. Filters are a critical component of the RFFE that selects the desired radio frequency signals and rejects unwanted signals and noise. For more information, please visit www.resonant.com.
About Resonant’s ISN® Technology
Resonant can create designs for difficult bands and complex requirements that we believe have the potential to be manufactured for half the cost and developed in half the time of traditional approaches. The Company’s large suite of proprietary mathematical methods, software design tools and network synthesis techniques enable it to explore a much bigger set of possible solutions and quickly derive the better ones. These improved filters still use existing manufacturing methods (i.e. surface acoustic wave (SAW) and/or temperature compensated surface acoustic wave (TC-SAW)) and can perform as well as those using higher cost methods (i.e. BAW or FBAR). While most of the industry designs filters using a coupling-of-modes model, Resonant uses circuit models and physical models. Circuit models are computationally much faster, and physical models are highly accurate models based entirely on fundamental material properties and dimensions. Resonant’s method delivers excellent predictability, enabling achievement of the desired product performance in roughly half as many turns through the fab. In addition, because Resonant’s models are fundamental, integration with its foundry and fab customers is eased because its models speak the “fab language” of basic material properties and dimensions.
Safe Harbor / Forward-Looking Statements
This press release contains forward-looking statements, which include the following subjects, among others: the capabilities of our software tools and filter designs; and the potential impact of our designs on the filter supply chain model. Forward-looking statements are made as of the date of this document and are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: our limited operating history; our ability to complete designs that meet customer specifications; the ability of our customers (or their manufacturers) to fabricate our designs in commercial quantities; the ability of our designs to significantly lower costs compared to other designs and solutions; the risk that the intense competition and rapid technological change in our industry renders our designs less useful or obsolete; our ability to find, recruit and retain the highly skilled personnel required for our design process in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Annual Report (Form 10-K) or Quarterly Report (Form 10-Q) filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
Yeah, let's hope another P3 is not required. That would be a drag, but as you say.. a more important milestone between here and there anyway, that should lift the PPS.
$61MM in the bank at the start of Q2, with a cash burn of $10MM -- that's lots of runway. And near term revenue from their two recent launches could extend that.