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Gale force tailwinds are gusting cardiology practices into the cardiac PET market.
Positron Corp. couldn't have chose a better time to scale up their efforts again:
1.) https://www.healthimaging.com/topics/molecular/guide-coronary-artery-disease-pet-myocardial-blood-flow
"Two of molecular imaging’s top professional organizations on Wednesday published new guidelines for using positron emission tomography to better diagnose coronary artery disease.
Measuring myocardial blood flow as part of perfusion imaging has been a key development in the field and should be part of providers’ daily workflow, experts said in a statement on Thursday.
......
“While there are many excellent publications on all aspects of PET blood flow quantification, we felt that there existed a gap, especially for nuclear physicians practicing in non-academic centers,” Timothy Bateman, MD, a lead author of the writing committee composed of world-renowned leaders in cardiac PET.
2.) Bracco Diagnostics Inc. Announces New Partnership to Increase Access to Cardiac PET Imaging
https://cardiology2.com/bracco-diagnostics-inc-announces-new-partnership-to-increase-access-to-cardiac-pet-imaging/
"This new program, the Bracco Mobile Isotope Service, will enable more patient care sites, such as community hospitals, physician practices and outpatient imaging centers, to provide cardiac PET imaging."
Zoom video is challenging Zoom
Telephonics trademarks, the trademark office has declined numerous applications from Zoom video due to Zoom Telephonics existing trademarks, so Zoom video has filed a request for them to be nullified, but Zoom Telephonics plans on reintroducing
products under the Zoom name:
https://www.bizjournals.com/boston/news/2021/04/23/zoom-video-wants-mark.html
End Game, you may have been right about the value of the Zoom trademarks, this could get interesting...I wonder what Zoom video would pay to get the trademark "Zoom" that has become ubiquitous for video conferencing?
SPRT shareholders will only own 8% of the merged company, so it is effectively already valued in the billions as well.
"Upon completion of merger, Support.com stockholders and optionholders will collectively own approximately 8% of the combined company’s common stock and Greenidge stockholders will own approximately 92%"
To be perfectly honest, I don't understand why bitcoin miners are so richly valued here, there's increasing competition for the same size pie, and that pie gets smaller in time.
Furthermore, I'm not really a bitcoin bull, because I can't trust myself to buy bitcoin directly. Experts estimate ~20% is already lost by owners. I had a computer crash a few years ago and lost a lot of treasured photos of my daughters early childhood, I can't trust myself and my tech ability to hold the key for bitcoin, so miners is the only way I feel safe playing it....maybe miners are strong because a lot of others see it the same way?
MKTY on NASDAQ, their new audience used to looking at MARA & RIOT probably thinks MKTY looks cheap until it reaches a 10 figure valuation, lol!
In all seriousness, the relative valuations gap is huge, and the company still has a lot to disclose about their new mine development and financing, both news flows which could provide possitive catalysts, particularly if their financing comes from a strategic partner.
Michael Toporek used to be a regular commentator on CNBC and Fox Business, I expect he might be able to get the spotlight to shine on MKTY when they have significant developments to announce.
MINM: Minim Secures $13.0 Million Credit Facility with Silicon Valley Bank
Press Release | 03/15/2021
Following record-breaking quarterly and year-end revenue results, the company announces new capital access to address increased demand in the rapidly growing $356 billion fixed broadband market
Manchester, NH, March 15, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Zoom Telephonics, Inc., doing business as Minim (OTCQB: MINM) ("Minim"), the creator of innovative internet access products, today announced that it has closed on a $13.0 million credit facility in partnership with Silicon Valley Bank in lieu of its previous $5.0 million credit facility. This announcement follows a record-breaking quarter and year in Minim’s revenue.
“We are pleased to work with Silicon Valley Bank on a credit facility that will assist Minim in seeking to sustainably accelerate growth,” said Sean Doherty, CFO of Minim. “From recent market analysis, we are optimistic that the post-pandemic era will bring continued reliance on telemedicine, hybrid remote work models, remote education, streaming entertainment, and Gigabit speeds—making performant, secure home WiFi a global imperative. Through our expanded credit facility, Minim will invest in sales, marketing, and new product introductions to address the demand for advanced connectivity products that homes need.”
Minim delivers smart software-driven communication products under the globally-recognized Motorola® brand. The company’s cable modem, gateway, router, and MoCA systems can be found in retailers and e-commerce channels nationwide, including: Best Buy, Target, Walmart, Microcenter, and Amazon. The company’s connectivity hardware and software are also available for purchase via over 130 Internet Service Providers and technology distributor Telarus.
"Minim is delivering high-quality software, hardware and services to connect customers and homes in the US and internationally," said Sarah Kwan, Vice President of Technology Banking at Silicon Valley Bank. "We are proud to work with the Minim team and support the company's growth."
For more information about Minim, visit www.minim.com.
About Minim
Zoom Telephonics, Inc., doing business as Minim (OTCQB: MINM) is the creator of innovative internet access products that dependably connect people to the information they need and the people they love. Headquartered in Manchester, NH, the company delivers smart software-driven communications products under the globally recognized Motorola® brand. Minim end users benefit from a personalized and secure WiFi experience, leading to happy and safe homes where things just work. To learn more, visit www.minim.com.
Here's the summary from the 8k:
On March 12, 2021, Zoom Telephonics, Inc. (the “Company”) terminated the Financing Agreement, dated as of December 18, 2012, as amended (collectively, the “Financing Agreement”), with Rosenthal & Rosenthal, Inc. (“Rosenthal”) in connection with the Company’s entry into the Credit Agreement (as defined below). The Company paid Rosenthal all outstanding borrowings and other amounts owed by the Company under the Financing Agreement in connection with the termination of the Financing Agreement.
The disclosures provided in Item 2.03 of this Current Report on Form 8-K are hereby incorporated by reference into this Item 1.02.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On March 12, 2021 (the “Effective Date”), the Company and its wholly-owned subsidiary Minim Inc. (“Minim”) entered into a Loan and Security Agreement (the “Credit Agreement”), with Silicon Valley Bank (“SVB”).
The Credit Agreement provides the Company with a maximum revolving credit line of $13 million (the “Revolving Line”). Borrowings under the Credit Agreement are secured by all of the assets of Minim and the Company. The Company anticipates that it will use the borrowing capacity for general corporate purposes, including funding its working capital requirements. SVB was paid a one-time, non-refundable revolving line commitment fee of $24,000 on the Effective Date. The floating per annum interest rate under the Credit Agreement will range between 3.75% to 4.25%, with a minimum interest rate per month of $14,000. The maturity date is 24 months from the Effective Date. If the Credit Agreement is terminated for any reason prior to the maturity date, in addition to the payment of any other amounts then-owing, the Company must pay a termination fee in an amount equal to 2.0% of the Revolving Line if such termination occurs prior to the first anniversary of the Effective Date, or 1.0 % of the Revolving Line if such termination occurs on or at any time after the first anniversary of the Effective Date.
The Credit Agreement contains certain customary covenants, including a restriction from declaring any dividends, redeeming or repurchasing any stock, or making any investment, loan or capital contribution in any third party. In addition, the Company is restricted from making material dispositions or transfers of assets, or making any changes in the Company’s business, management, control or business locations. The Credit Agreement provides for customary events of default. Upon an event of default, SVB has the right to declare all outstanding obligations as immediately due and payable, which will bear interest at 5.0% above the otherwise then applicable interest rate.
The foregoing summary is subject to, and qualified in its entirety by, the full text of the Credit Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein.
SOFO is cheap, BCOV & QUMU trade around a P/S of 5 and are barely profitable, SOFO's P/S is near 1 and reported $0.08 EPS last quarter.
The new CEO has only been on the job six months, but the changes in their marketing are evident and seam to be improving the business case already.
Academics continue to further what's possible in this space:
https://physicsworld.com/a/deep-learning-enables-safer-heart-scans-with-lower-radiotracer-dose/
The market fundamentals are definitely turning our way, the company keeps saying they are working on coming out of the dark, and there is definitely sustained buying interest methodically walking up the bid.
I believe the Flourpiridaz, F-18 approval, now expected in 2013, will be the watershed moment for cardiac PET this company has been waiting for over a decade.
MINM is very exciting, look at recent BOD member from MXL, then look at what MXL is doing for DOCSIS 4.0, it doesn't take much imagination to see MINM finding it's way into supplying Tier I MSOs with CPE, as the new CEO illness to here:
https://www.lightreading.com/cablevideo/docsis/minim-puts-new-broadband-product-plan-in-motion/a/d-id/765951
https://www.lightreading.com/cablevideo/docsis/maxlinear-broadcom-set-to-bring-silicon-stability-to-docsis-40/d/d-id/763155
I gave up on HYDI, their business is still interesting to me, but their financial reporting has gotten worse over the past couple of years.
I think small, relative value stocks, that have the potential to uplist to NASDAQ in the near term is a good place to be in these crazy markets....having relative value with the catalyst of a larger audience on NASDAQ in the near term.
OT: Count me as one of those Fidelity added accounts, but I never funded mine because they couldn't accept my HYDI & POSC stock transfer, because they are " Pink, No Current Information".
That being said, I don't think Fidelity accounts are going to benefit unlisted microcap and penny stocks much. Robinhood also restricts trading of pink sheet and even OTCQB & QX stocks, if I'm not mistaken.
Unfortunately, I think there's a lot of dumb retail monet driving the FANG stocks, IPOs, SPACs, & TSLA to stoopid levels, while micros are stilla relative value in this market.
I'll take my SOFO over ZM anyday, my MKTY over RIOT, my IPA over ABCL, and my MINM over NTGR....99 out of 100 times.
MKTY: Today's EcoChain board apppointment is impressive and Will's quote mentions "...multiple projects underway..."
https://finance.yahoo.com/news/mechanical-technology-incorporated-subsidiary-ecochain-163700982.html
Mechanical Technology, Incorporated ("MTI" or the "Company"), (OTCQB: MKTY), the parent company of MTI Instruments, Inc. and EcoChain, Inc. ("EcoChain"), a cry...
I haven't sold any yet. I felt pretty stupid for not selling before this news this morning, but this Board appointment is an impressive addition to the business and affirms that this company is making a serious go at utility scale projects.
Although MKTY's share price fell in unison with MARA & RIOT today, I believe we will contine to close the valuation gap as the details of their projects are disclosed and the market begins to understand MKTY is building their business on sound business principals, necessary to compete in a cost efficient market.
Not sure why N8 Endotracheal tube program doesn't seam to have advanced.
I guess the Canadian EUA still stands, but not like we'll get to see if makes any difference to HYDI financials.
Gave up holding this company, despite how much I like their business, they'll never move up market and get attention from more serious investors with their erratic financial reporting over the past few years.
SOFO $5.19 reports 0.08 EPS
Sonic Foundry Announces Fiscal 2021 First Quarter Results - Fourth Consecutive Quarter of Net Income
MADISON, Wis., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Sonic Foundry, Inc. (OTC Pink Sheets: SOFO), the trusted leader for video creation and management solutions as well as virtual and hybrid events, today announced consolidated financial results for its fiscal 2021 first quarter ended December 31, 2020.
Fiscal 2021 First Quarter Highlights
Total revenues of $9.2 million compared to $8 million in the first quarter of 2020, a 14 percent increase
Gross margin was $6.8 million, or 74 percent in the first quarter of 2021 compared to $5.8 million, or 73 percent in the first quarter of 2020
Net income attributable to common stockholders of $632,000, or $0.08 per share, compared to a net loss of $(820,000), or $(0.12) per share, in the first quarter of 2020, an improvement of $1.5 million
Adjusted EBITDA of $1.3 million for the first quarter of 2021 compared to $(297,000) in the same quarter last year, a 539% improvement
Unearned revenue was $10.8 million as of December 31, 2020 and $10.8 million as of December 31, 2019
Fiscal 2021 First Quarter Review
Product revenue was $2.2 million during the first quarter of 2021 compared to $2.1 million in the same quarter last year. Service billings, including support, hosting, events and professional services were $7 million, compared to $6 million in the prior year. Notably, revenue related to hosting increased 58 percent in the first quarter of 2021 compared to the same quarter last year. These increases in services are indicative of the acceleration in video content creation across the globe. The company expects to recognize $4.4 million of the current unearned revenue in the second quarter of fiscal 2021. Recurring revenue of $6.9 million was 76 percent of total revenue in the first quarter of 2021, compared to $6.3 million, or 78 percent of total revenue, in the first quarter of 2020.
“I’m pleased that our first quarter delivered solid results across several key financial metrics. These results were driven by the informed bold decisions we’ve made to pursue high-demand, high-growth markets and anticipating our client needs in a video-centric world. We continue to maintain positive momentum across several important business segments, including our virtual events platform and Mediasite Video Cloud, two key areas we continue to invest in as we adjust our model to focus on solving new client business issues,” said Joe Mozden Jr., CEO, Sonic Foundry.
“We have seen the use of video for communications and e-learning accelerate exponentially over the past year. As an example, we have clients now viewing Mediasite content one million times per month compared to one million times per year. From just March to September 2020 alone, we saw over 1.4 billion video views. With this prolific amount of video creation and usage comes the need to organize, enhance and secure this ever-growing content, regardless of the source, and ensure users can access it from any location around the world,” Mozden continued. “We are leveraging our worldwide data center architecture to help our clients like University of Bristol deliver their videos anytime where they want it – the board room, a learning management system, anywhere their users are. We are also continuing to see increased demand for our Mediasite Events virtual platform, and our team of experts is creating highly engaging online experiences allowing organizations to continue delivering critical information to their users worldwide. As we plan for the post-COVID environment, our team, with 15 years of experience, is poised to lead our clients into a hybrid event world which we believe will be the future of the meetings and conferences industry.”
“I am even more enthusiastic and confident today than when I joined the team last fall. While we have some challenges ahead, we have a vision and mentality for growth and have the right team in place to drive that growth. We are thinking about our business differently, aligning to our clients’ needs and proudly serving as their trusted partner to help them grow and lead them through the uncertainty,” Mozden concluded.
Non-GAAP Financial Information
To supplement and enhance the reader’s understanding of our operating performance, we disclose adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (adjusted EBITDA), a non-GAAP measure of operating performance. Our adjusted EBITDA measure additionally adds back stock compensation expense as well as severance expense from the SEC definition of EBITDA. As such, our adjusted EBITDA may not be comparable to similarly titled measures reported by other companies and should not be viewed as an alternative to net income as a measurement of our operating performance. A reconciliation of net loss to adjusted EBITDA for the first quarter ended December 31, 2021, and 2020 are included in the release.
About Sonic Foundry®, Inc.
Sonic Foundry (OTC Pink Sheets: SOFO) is the global leader for video capture, management and streaming solutions as well as virtual and hybrid events. Trusted by more than 5,200 educational institutions, corporations, health organizations and government entities in over 65 countries, its Mediasite Video Platform quickly and cost-effectively automates the capture, management, delivery and search of live and on-demand streaming videos. Learn more at www.sonicfoundry.com.
MINM's Motorola cable modems continue to get top reviews.
Tom's Guide just highlighted the Motorola MB7420 cable modem as the best cable modem for "most people":
https://www.tomsguide.com/us/best-modems,review-2832.html
(It's also kid of funny the old graphic they used in this article shows an old school Zoom modem.)
Forgot to post it here, but a couple of weeks ago Rolling Stone highlighted the MB8600 as their second choice for customers looking to eliminate cable modem rental fees. Notice that it is also the only modem they mention "features advanced security":
https://www.rollingstone.com/product-recommendations/electronics/best-cable-modems-1104627/amp/
If this Wirecutter review naming the MB7621 was responsible for some of the sales growth we've seen over the past year, then this Rolling Stone feature and Tom's Guide ought to keep the momentum going:
https://www.nytimes.com/wirecutter/reviews/best-cable-modem/
MKTY: I agree gilead, the company just hired an IR firm last week. I look forward to seeing the company make a PR push to be seen as a going concern in bitcoin mining among those peers.
This is their first PR with a new IR firm, I think this was essentially a practice run, as they also wanted ro address some FAQs. I think this is a rational first step to the plan to build the valuation up to comparable level of their peers.
I believe many more significant news items are in the works, like their next PPA for their new facility.
MKTY: EcoChain, Inc. Shares Answers to Common Investor Questions
PR Newswire
ALBANY, N.Y., Feb. 3, 2021
ALBANY, N.Y., Feb. 3, 2021 /PRNewswire/ -- EcoChain, Inc. ("EcoChain" or the "Company"), headquartered in Albany, New York, a wholly owned subsidiary of Mechanical Technology, Incorporated, a publicly traded company (OTCQB: MKTY) shares answers to common investor questions.
MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)
As part of the Company's ongoing efforts to keep investors informed during this dynamic time for the Company, MKTY issued the following shareholder update:
On December 23, 2020, the Company wrote to its shareholders to provide a yearend update and a blueprint for its 2021 objectives. During the past several weeks since that letter, we've received numerous questions from our shareholder base. To assure adequate communication with our shareholders, we are releasing this update in a framework to easily address several of the inquiries we have received:
Crypto Coin Markets
1) Will EcoChain hold the Bitcoin or Alt coin it mines on its balance sheet? Will EcoChain use any of its cash to buy BTC or other Alt coins?
Currently, EcoChain's business plan does not contemplate direct ownership of BTC or ALT coins mined, nor does it intend to use its capital to purchase BTC or ALT coins.
EcoChain has announced that it bought land to build out a 25MW ultra-low cost green data center. Although the Company has not yet announced the power cost, its current estimates lead it to believe that the ultimate power cost will be significantly below that of several well-known public companies that also compete in this space. If the Company's estimates are correct, the ultra-low cost will enable EcoChain to optimize its capital deployment since it could easily buy lightly used current generation processors, monetize second and third generation processors and avoid paying a premium and waiting for the latest generation miners. EcoChain expects to have a mix of equipment and supply arrangements that will seek to optimize its return on invested capital. Ultra-low cost power gives EcoChain that possibility.
2) Is the Company concerned about Crypto coin prices and that they may collapse?
Crypto prices are volatile. The Company continues to monitor the movement of crypto valuations and its potential impact on its business plan. To that end, EcoChain's plan is to construct ultra-low cost data centers such that they would have been profitable even through the last crypto winter and ideally be poised to weather future periods of volatility and potential significant declines.
Furthermore, the Company believes that mining profitability and return on invested capital depends on more than Crypto prices --network difficulty and the cost of equipment are also key variables. That is why rising, static or declining crypto prices don't always directly impact profitability in a straight line Additionally, as noted above, because the Company does not contemplate holding crypto on its balance sheet, we believe our business plan is better suited to deliver more stable returns and hence share prices; however, there are no guarantees that our expectations will be successful.
The MKTY Organization, Including Soluna and EcoChain
1) Please describe the relationship with Soluna and how related expenses are billed and passed through the income statement?
Soluna is a key technology provider to EcoChain. Brookstone Partners, which owns 39% of MKTY, controls about 62% of Soluna. Any and all agreements between the Company and Soluna are negotiated by independent directors of the Company, directly with the CEO of Soluna and represent arms-length practices. This is more fully described in our public filings.
Soluna is paid a per MW annual management fee, a percent of the profits once EcoChain has its capital returned with a pre-specified rate of return, and an initial transaction/set up fee. Soluna does not provide the personnel at the data center that service the physical machines. Soluna directs those personnel. Currently those resources on the ground are retained by EcoChain on a contract basis, but as the Company scales up it will periodically reassess this arrangement.
2) What is the CEO's current compensation arrangement?
Michael Toporek is an employee at will. His total cash compensation is $170,000. He is also a Director, and as other directors do, he receives the same compensation in shares and options. Brookstone Partners, an investment firm he helps to manage, controls about 39% of the Company which currently provides sufficient alignment of incentives. Any changes to Mr. Toporek's compensation or our company's relationship with Brookstone or an affiliate of Brookstone, will be prominently reflected in our filings with the SEC.
3) Will EcoChain ever need its own employees, or will all activities always be handled by Soluna?
EcoChain continuously assesses its resources and the economics of outsourcing or insourcing. As such, current contract relationships may change with certain activities brought in-house as the Company continues to scale and the economics of insourcing become more cost effective. The goal is to retain the best talent economically.
4) How many Soluna employees are actively working on EcoChain activities?
Soluna has four people that are actively working on matters for EcoChain in addition to certain engineers and consultants which are regularly retained.
About EcoChain, Inc.
EcoChain is engaged in developing and operating ultra low-cost green data centers focused on crypto currency mining. For more information about EcoChain, please visit https://ecochainmining.com/.
Forward-Looking Statements for Mechanical Technology, Incorporated:
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
Please visit https://www.mechtech.com under News & Events.
Contact Information:
Lisa Brennan
518-218-2592
lbrennan@mtiinstruments.com
Kirin Smith, President
PCG Advisory, Inc.
646.823.8656
Ksmith@pcgadvisory.com
MKTY: EcoChain, Inc. Shares Answers to Common Investor Questions
PR Newswire
ALBANY, N.Y., Feb. 3, 2021
ALBANY, N.Y., Feb. 3, 2021 /PRNewswire/ -- EcoChain, Inc. ("EcoChain" or the "Company"), headquartered in Albany, New York, a wholly owned subsidiary of Mechanical Technology, Incorporated, a publicly traded company (OTCQB: MKTY) shares answers to common investor questions.
MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)
As part of the Company's ongoing efforts to keep investors informed during this dynamic time for the Company, MKTY issued the following shareholder update:
On December 23, 2020, the Company wrote to its shareholders to provide a yearend update and a blueprint for its 2021 objectives. During the past several weeks since that letter, we've received numerous questions from our shareholder base. To assure adequate communication with our shareholders, we are releasing this update in a framework to easily address several of the inquiries we have received:
Crypto Coin Markets
1) Will EcoChain hold the Bitcoin or Alt coin it mines on its balance sheet? Will EcoChain use any of its cash to buy BTC or other Alt coins?
Currently, EcoChain's business plan does not contemplate direct ownership of BTC or ALT coins mined, nor does it intend to use its capital to purchase BTC or ALT coins.
EcoChain has announced that it bought land to build out a 25MW ultra-low cost green data center. Although the Company has not yet announced the power cost, its current estimates lead it to believe that the ultimate power cost will be significantly below that of several well-known public companies that also compete in this space. If the Company's estimates are correct, the ultra-low cost will enable EcoChain to optimize its capital deployment since it could easily buy lightly used current generation processors, monetize second and third generation processors and avoid paying a premium and waiting for the latest generation miners. EcoChain expects to have a mix of equipment and supply arrangements that will seek to optimize its return on invested capital. Ultra-low cost power gives EcoChain that possibility.
2) Is the Company concerned about Crypto coin prices and that they may collapse?
Crypto prices are volatile. The Company continues to monitor the movement of crypto valuations and its potential impact on its business plan. To that end, EcoChain's plan is to construct ultra-low cost data centers such that they would have been profitable even through the last crypto winter and ideally be poised to weather future periods of volatility and potential significant declines.
Furthermore, the Company believes that mining profitability and return on invested capital depends on more than Crypto prices --network difficulty and the cost of equipment are also key variables. That is why rising, static or declining crypto prices don't always directly impact profitability in a straight line Additionally, as noted above, because the Company does not contemplate holding crypto on its balance sheet, we believe our business plan is better suited to deliver more stable returns and hence share prices; however, there are no guarantees that our expectations will be successful.
The MKTY Organization, Including Soluna and EcoChain
1) Please describe the relationship with Soluna and how related expenses are billed and passed through the income statement?
Soluna is a key technology provider to EcoChain. Brookstone Partners, which owns 39% of MKTY, controls about 62% of Soluna. Any and all agreements between the Company and Soluna are negotiated by independent directors of the Company, directly with the CEO of Soluna and represent arms-length practices. This is more fully described in our public filings.
Soluna is paid a per MW annual management fee, a percent of the profits once EcoChain has its capital returned with a pre-specified rate of return, and an initial transaction/set up fee. Soluna does not provide the personnel at the data center that service the physical machines. Soluna directs those personnel. Currently those resources on the ground are retained by EcoChain on a contract basis, but as the Company scales up it will periodically reassess this arrangement.
2) What is the CEO's current compensation arrangement?
Michael Toporek is an employee at will. His total cash compensation is $170,000. He is also a Director, and as other directors do, he receives the same compensation in shares and options. Brookstone Partners, an investment firm he helps to manage, controls about 39% of the Company which currently provides sufficient alignment of incentives. Any changes to Mr. Toporek's compensation or our company's relationship with Brookstone or an affiliate of Brookstone, will be prominently reflected in our filings with the SEC.
3) Will EcoChain ever need its own employees, or will all activities always be handled by Soluna?
EcoChain continuously assesses its resources and the economics of outsourcing or insourcing. As such, current contract relationships may change with certain activities brought in-house as the Company continues to scale and the economics of insourcing become more cost effective. The goal is to retain the best talent economically.
4) How many Soluna employees are actively working on EcoChain activities?
Soluna has four people that are actively working on matters for EcoChain in addition to certain engineers and consultants which are regularly retained.
About EcoChain, Inc.
EcoChain is engaged in developing and operating ultra low-cost green data centers focused on crypto currency mining. For more information about EcoChain, please visit https://ecochainmining.com/.
Forward-Looking Statements for Mechanical Technology, Incorporated:
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
Please visit https://www.mechtech.com under News & Events.
Contact Information:
Lisa Brennan
518-218-2592
lbrennan@mtiinstruments.com
Kirin Smith, President
PCG Advisory, Inc.
646.823.8656
Ksmith@pcgadvisory.com
MKTY: EcoChain, Inc. Shares Answers to Common Investor Questions
PR Newswire
ALBANY, N.Y., Feb. 3, 2021
ALBANY, N.Y., Feb. 3, 2021 /PRNewswire/ -- EcoChain, Inc. ("EcoChain" or the "Company"), headquartered in Albany, New York, a wholly owned subsidiary of Mechanical Technology, Incorporated, a publicly traded company (OTCQB: MKTY) shares answers to common investor questions.
MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)
As part of the Company's ongoing efforts to keep investors informed during this dynamic time for the Company, MKTY issued the following shareholder update:
On December 23, 2020, the Company wrote to its shareholders to provide a yearend update and a blueprint for its 2021 objectives. During the past several weeks since that letter, we've received numerous questions from our shareholder base. To assure adequate communication with our shareholders, we are releasing this update in a framework to easily address several of the inquiries we have received:
Crypto Coin Markets
1) Will EcoChain hold the Bitcoin or Alt coin it mines on its balance sheet? Will EcoChain use any of its cash to buy BTC or other Alt coins?
Currently, EcoChain's business plan does not contemplate direct ownership of BTC or ALT coins mined, nor does it intend to use its capital to purchase BTC or ALT coins.
EcoChain has announced that it bought land to build out a 25MW ultra-low cost green data center. Although the Company has not yet announced the power cost, its current estimates lead it to believe that the ultimate power cost will be significantly below that of several well-known public companies that also compete in this space. If the Company's estimates are correct, the ultra-low cost will enable EcoChain to optimize its capital deployment since it could easily buy lightly used current generation processors, monetize second and third generation processors and avoid paying a premium and waiting for the latest generation miners. EcoChain expects to have a mix of equipment and supply arrangements that will seek to optimize its return on invested capital. Ultra-low cost power gives EcoChain that possibility.
2) Is the Company concerned about Crypto coin prices and that they may collapse?
Crypto prices are volatile. The Company continues to monitor the movement of crypto valuations and its potential impact on its business plan. To that end, EcoChain's plan is to construct ultra-low cost data centers such that they would have been profitable even through the last crypto winter and ideally be poised to weather future periods of volatility and potential significant declines.
Furthermore, the Company believes that mining profitability and return on invested capital depends on more than Crypto prices --network difficulty and the cost of equipment are also key variables. That is why rising, static or declining crypto prices don't always directly impact profitability in a straight line Additionally, as noted above, because the Company does not contemplate holding crypto on its balance sheet, we believe our business plan is better suited to deliver more stable returns and hence share prices; however, there are no guarantees that our expectations will be successful.
The MKTY Organization, Including Soluna and EcoChain
1) Please describe the relationship with Soluna and how related expenses are billed and passed through the income statement?
Soluna is a key technology provider to EcoChain. Brookstone Partners, which owns 39% of MKTY, controls about 62% of Soluna. Any and all agreements between the Company and Soluna are negotiated by independent directors of the Company, directly with the CEO of Soluna and represent arms-length practices. This is more fully described in our public filings.
Soluna is paid a per MW annual management fee, a percent of the profits once EcoChain has its capital returned with a pre-specified rate of return, and an initial transaction/set up fee. Soluna does not provide the personnel at the data center that service the physical machines. Soluna directs those personnel. Currently those resources on the ground are retained by EcoChain on a contract basis, but as the Company scales up it will periodically reassess this arrangement.
2) What is the CEO's current compensation arrangement?
Michael Toporek is an employee at will. His total cash compensation is $170,000. He is also a Director, and as other directors do, he receives the same compensation in shares and options. Brookstone Partners, an investment firm he helps to manage, controls about 39% of the Company which currently provides sufficient alignment of incentives. Any changes to Mr. Toporek's compensation or our company's relationship with Brookstone or an affiliate of Brookstone, will be prominently reflected in our filings with the SEC.
3) Will EcoChain ever need its own employees, or will all activities always be handled by Soluna?
EcoChain continuously assesses its resources and the economics of outsourcing or insourcing. As such, current contract relationships may change with certain activities brought in-house as the Company continues to scale and the economics of insourcing become more cost effective. The goal is to retain the best talent economically.
4) How many Soluna employees are actively working on EcoChain activities?
Soluna has four people that are actively working on matters for EcoChain in addition to certain engineers and consultants which are regularly retained.
About EcoChain, Inc.
EcoChain is engaged in developing and operating ultra low-cost green data centers focused on crypto currency mining. For more information about EcoChain, please visit https://ecochainmining.com/.
Forward-Looking Statements for Mechanical Technology, Incorporated:
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
Please visit https://www.mechtech.com under News & Events.
Contact Information:
Lisa Brennan
518-218-2592
lbrennan@mtiinstruments.com
Kirin Smith, President
PCG Advisory, Inc.
646.823.8656
Ksmith@pcgadvisory.com
This video tour of the GigaWatt facility gives a little insight into what EcoChain might have gotten from GigaWatt's bankruptcy sale(s):
The company bought GigaWatt's intellectual property and certain other property and rights associated with GigWatt's crypto mining operation. The acquisition was approved by the United States Bankruptcy Court for the Eastern District of Washington and was consummated by EcoChain on May 20, 2020. As previously announced by MTI, EcoChain purchased the subject GigaWatt assets for cash consideration of $200,000 and will be assuming certain contractual obligations of GigaWatt related to existing leases and utility power supply.
https://www.prnewswire.com/news-releases/mechanical-technology-incorporated-announces-closing-of-previously-announced-gigawatt-acquisition-301063081.html
Here is the general backstory from The Seattle Times, most interestingly noting that GigaWatt took in some $47 million building their business:
https://www.seattletimes.com/business/washington-bitcoin-pioneer-seeks-chapter-11-protection/
ECOchain swooped in for more cheap equipment from the GigaWatt bankruptcy in 10/2020 (read items 24 - 26):
https://casetext.com/case/in-re-giga-watt-inc
SOFO: The Annual Meeting at 10 a.m. will be the first time the new CEO gets to share his plan with investors.
Check it out on their MediaSite video platform:
https://sonicfoundry.com/investors/annual-meeting/
This enterprise video management company trading under $4 that reported $0.06 EPS last quarter might be one of the best values to be found in the market now.
The Annual Meeting at 10 a.m. will be the first time the new CEO gets to share his plan with investors, check it out on their MediaSite video platform:
https://sonicfoundry.com/investors/annual-meeting/
The company actually intends to build out 50 MW of capacity by year end, so this 25 MW plan gets them half way there.
Based on some quick searching, it does seam the rates you quote are about the going rate for building out new datacenter capacity, but I'm pretty sure the company is also looking to add some kind of load balancing system to accumulate energy during off-peak hours, to be used when the intermittent renewable supplies go offline, which might be even more expensive.
Then again, they bought their first 2.5 MW crypto mine for $200,000:
https://apnews.com/press-release/pr-newswire/6cd710c1ecd87efcabb9ac266a30f976
I don't expect they'll be lucky enough to find that much capacity in bankruptcy settlements for pennies on the dollar in value, like their first property, but I don't expect they'll be paying full price either.
In one of those interviews the CEO said they will need to do financing, but they are sensitive to dilution, as management holds nearly half of the company now.
I imagine they will seek to uplist on NASDAQ and release some more positive developments to drive the price up before they lock in any financing.
There's obviously a lot of unknowns here, we have to trust a management team that appears to be judicious allocators of capital, I think rhe operations team history of developping and spinning-off PLUG Power combined with Michael Toropek's history in private equity look like a capable team to build a going concern in this industry.
I see you are still active on MicrocapClub, there's some good conversation on the potential possibilities for MKTY there as well.
MKTY: In the near term, it's a play on relative valuation in the bitcoin mining space. MKTY's current valuation is relatively cheap for the company's ECOchain wholly owned subsidiary and it's ownership interest in privately held Soluna. Comparable bitcoin mining companies listed on NASDAQ, like BTBT, MARA, & RIOT are trading with valuations measured near the billion dollar mark, where as MKTY has similar current revenues and judicious expansion plans to build out 50MW of economical, off-peak, renewable energy powered data center capacity for crypto mining, but trades with a $50 million valuation. The company plans on uplisting to NASDAQ this calendar quarter, which will probably increase it's profile and perceived value in this current richly valued market for bitcoin miners.
In the longer run, six months out of so, the company's core business in precision instruments seams poised to announce some lucrative new products in the EV battery and semiconductor metrology space, where they enjoy high margins and pricing power in an area of the market that is also being very highly valued.
Most importantly, this isn't just an unscrupulous penny stock using the latest buzzwords to try to fetch the high valuations, the company has a tight capital structure, with competent insiders who's interests are aligned with investors, and wants to run a profitable company first and foremost.
The recent interviews linked in this PR are a good place to start your DD to understand the company's plans to accelerate their developments in the markets mentioned above.
https://finance.yahoo.com/news/mechanical-technology-incorporated-committed-transparency-212800205.html
MKTY: The recent investor interviews with the new CEO, linked in this PR, give a good overview of the company and their intentions to accelerate developments in both their ECOchain business unit and their MTI Instruments unit, which makes precision measuring instruments that are useful in EV battery development:
https://finance.yahoo.com/news/mechanical-technology-incorporated-committed-transparency-212800205.html
Interesting there hasn't been any PR issued for this system sale. Has the system been delivered yet?
Also,someone is buying at the ask today.
The market is coming to us for both system and stock sales, I hope the company files their Form 10 and begins communicating with investors again soon.
MKTY owns ECOchain subsidiary with 1,000 bitcoin miners operating on hydropower in WA state and owns a stake in Soluna, a privately held company developing a 900 MW wind farm powered data center in Morocco.
MKTY has zip code changer potential, but is still a reasonably priced stock.
The market is valuing NASDAQ listed bitcoin miners BTBT, MARA, & RIOT in the billions, but MKTY's ECOchain subsidiary is a fair comp with intentions to uplist to NASDAQ this calendar quarter and a 3 MW bitcoin mine powered by hydropower in WA state
Today they announced a land acquisition where they plan to develop a new 25 MW data center in the southeast US with a goal of exiting 2021 with 50MW in operation.
MKTY is also strategic investors in Class A preferred of private green energy bitcoin mining company Soluna (https://www.soluna.io/).
Today's news:
Mechanical Technology, Incorporated Announces Land Acquisition to Build Ultra Low-Cost Green Data Center
Acquisition is the first milestone of the 2021 Plan
+++
ALBANY, N.Y., January 20, 2021 /PRNewswire/ — Mechanical Technology, Incorporated (“MTI” or the “Company”), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, today provided a corporate update following on its Shareholder Letter of December 23, 2020.
Today’s announcement of an agreement to acquire land is an important step in the Company’s plan to build an ultra low-cost green data center that will fulfill the Company’s goal of becoming an ultra capital efficient data center operator.
The Company anticipates that the site, which is located in the Southeast United States, represents a critical step in its strategic roadmap to grow its EcoChain business. The Company has set an objective to complete construction of a 25MW data center that will be operational in the fourth quarter of 2021.
We expect this site will be the template for future greenfield and brownfield site builds, with a keen focus on operating and capital efficiency.
In cooperation with our technical partners at Soluna, MTI continues to build a robust pipeline of green powered ultra low-cost locations. Our pipeline incorporates a blend of greenfield, brownfield and ready to operate projects.
“We are excited to be executing on our plan to build out at least 50MW by years end,” commented Michael Toporek, CEO. Added Toporek: “We very specifically have set a target to have under our control and ramp up operations of 50MW of green powered ultra low-cost data center capacity by the end of the year.” Concluded Toporek: “It was important for us to begin executing on our 2021 objectives early. Our team continues to work to meet or beat its targets.”
###
About MTI
MTI is the parent company of MTI Instruments, Inc. and EcoChain, Inc. Through MTI Instruments, MTI is engaged in the design, manufacture and sale of test and measurement instruments and systems that use a comprehensive array of technologies to solve complex, real world applications in numerous industries, including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage. Through EcoChain, MTI is developing a cryptocurrency mining facilities powered by renewable energy that integrate with the bitcoin blockchain network. For more information about MTI, please visit https://www.mechtech.com.
###
Contact Information:
Lisa Brennan
518-218-2592
lbrennan@mtiinstruments.com
https://www.mechtech.com/land-acquisition-to-build-ultra-low-cost-green-data-center/
MKTY's ECOchain is about to begin announcing their expansion plans, they also own some interest in Soluna.
Environmentally conscious bitcoin mining is how I prefer to be involved in this market. Check out the MKTY board for more.
Megazoo, the short answer is no. Ecochain has a power purchase agreement with with a hydroelectric power generator, they do not own their own generating facilities, but they seek to purchase power from underutilized renewable energy sources.
However, MKTY does have equity ownership in Soluna, who is opperating MKTY's Ecochain mine, and seeks to develop their own energy generation sources for blockchain mining.
https://www.soluna.io/
This company does has some pretty strong financial performace in their core business, but its the comps in the crypto mining space that will drive further gains from here
This is a great summary of the potential for being rerated as a crypto mining interest:
http://www.livingoffthemarket.com/lotm-why-we-like-mkty-vs-other-crypto-miners/
SOFO: Insiders buying!
CEO and CFO reporting buys 12,500 and 10,000, respectively.
http://archive.fast-edgar.com/20201228/AQZ2PQ2CZM227ZZN222B2ZZZBC3DQ6V8Z222/
http://archive.fast-edgar.com/20201228/ACZ2DQ2CZM22LZZN222D2ZZZMSIBG6V8Z222/
Insider buying! CEO and CFO reporting buys 12,500 and 10,000, respectively.
http://archive.fast-edgar.com/20201228/AQZ2PQ2CZM227ZZN222B2ZZZBC3DQ6V8Z222/
http://archive.fast-edgar.com/20201228/ACZ2DQ2CZM22LZZN222D2ZZZMSIBG6V8Z222/
That's great news for Positron! Would you mind summarizing why you decided on the Attrius versus PET cameras from more prominent competitors?
SOFO: Long case. Unprofitable cometitors BCOV & QUMU trade at 3x sales.
Their video platform has robust capabilities above and beyond most of the cometition, allowing closed captioning, which makes all content searchable, analytics to evaluate viewer engagement, and real time monitoring to provide live feedback to presenters.
Their events platform has helped many organizations pivot to online conferences.
Furthermore, new CEO has an impressive sales pedigree in communications and higher education services, believes he can pivot SOFO's robust video platform to new markets with greater potential than their current primary market in education.
SOFO: $3.13, reports $0.06 EPS.
A profitable, premium video management platform trading at less than 1x sales.
https://finance.yahoo.com/news/sonic-foundry-announces-fiscal-2020-230700886.html
Sonic Foundry Announces Fiscal 2020 Fourth Quarter and Fiscal 2020 Financial Results - Third Consecutive Quarter of Net Income
MADISON, Wis., Dec. 22, 2020 (GLOBE NEWSWIRE) -- Sonic Foundry, Inc. (OTC Pink Sheets: SOFO), the trusted leader for video creation and management solutions, as well as virtual and hybrid events, today announced consolidated financial results for its fiscal 2020 fourth quarter and fiscal year ended September 30, 2020.
Fiscal 2020 Fourth Quarter Highlights
Billings of $11 million in the fourth quarter of 2020, a $1.2 million increase over the same quarter last year
Total revenues of $10.2 million compared to $9.2 million in the fourth quarter of 2019, a 10 percent increase
Gross margin was $7.3 million, or 72 percent in the fourth quarter of 2020 compared to $6.5 million, or 70 percent in the fourth quarter of 2019
Net income attributable to common stockholders of $439,000, or $0.06 per share, compared to a net loss of $(179,000), or $(0.03) per share, in the fourth quarter of 2019, an improvement of $618,000
Adjusted EBITDA of $1.6 million for the fourth quarter of 2020 compared to $744,000 in the same quarter last year, a 115% improvement
Unearned revenue was $12.1 million as of September 30, 2020 and $11.5 million as of September 30, 2019
Fiscal 2020 Year-End Highlights
Billings totaled $35.4 million in fiscal 2020 compared to $35.1 million in the prior year
Revenue remained flat year over year at $34.8 million despite impacts from COVID-19Gross margin declined slightly from 73 percent in fiscal 2019 to 72 percent in fiscal 2020
Net loss attributable to common stockholders of $(179,000), or $(0.02) per share compared to a net loss of $(3.7) million, or $(0.64) per share in fiscal 2019
Adjusted EBITDA was $2.4 million for the year compared to $(450,000) in the prior year. The company adjusts EBITDA for non-cash stock compensation expense and severance expenseFiscal 2020 Fourth Quarter Review
Product billings were $2.9 million during the fourth quarter of 2020 compared to $3.7 million in the same quarter last year. Service billings, including support, hosting, events and installs were $8 million, compared to $6.1 million in the prior year. Notably, billings related to hosting increased 86 percent in the fourth quarter of 2020 compared to the same quarter last year. These increases in services are indicative of the acceleration in video content creation across the globe. The company expects to recognize $4.1 million of the current unearned revenue in the first quarter of fiscal 2021. Recurring revenue of $6.8 million was 67 percent of total revenue in the fourth quarter of 2020, compared to $5.9 million, or 64 percent of total revenue, in the fourth quarter of 2019.
“It has been incredibly exciting for me to join Sonic Foundry at this pivotal point in its 30-year history,” said Joe Mozden Jr., CEO, Sonic Foundry. “Every organization across the world has been impacted by COVID-19 in a profound way. We have had the sincere privilege of being positioned to help our customers navigate unchartered waters – new users like Norland College in the United Kingdom and Hamid Bin Khalifa University, part of the Qatar Foundation, and longtime clients like Florida Atlantic University and Texas A&M University. Our solutions are helping them continue, if not grow their businesses, by keeping their classes, trainings, work and events going virtually, despite distance.”
Mozden continued: “Whether it’s migrating a health organization’s in-person conference to a virtual platform to ensure they continue to exchange vital information with thousands of users, or enabling teachers to connect with their students in more thoughtful and engaging ways, we’re proud to be a lifeline to our customers in this new video-centric world.”
“We are rapidly adapting our business to the trends that we are seeing, and are accelerating our investments and focus on high value-add markets which we believe will grow in a post COVID world. Increased demand for hosting, our virtual events platform and our video content management capabilities reflect significant opportunities for Sonic Foundry and are the basis for changes we are making in our business. I am extremely proud of our team for quickly pivoting to meet our customers’ needs during this difficult year. We are beginning a new journey with greater emphasis on product orientation coupled with our historical customer-centric focus. A great example of that is the innovations we are driving for in the new hybrid world for the classroom, the office, and the events industry,” he concluded.
Non-GAAP Financial Information
To supplement and enhance the reader’s understanding of our operating performance, we disclose adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (adjusted EBITDA), a non-GAAP measure of operating performance. Our adjusted EBITDA measure additionally adds back stock compensation expense as well as severance expense from the SEC definition of EBITDA. As such, our adjusted EBITDA may not be comparable to similarly titled measures reported by other companies and should not be viewed as an alternative to net income as a measurement of our operating performance. A reconciliation of net loss to adjusted EBITDA for the fourth quarter ended September 30, 2020, and 2019 are included in the release.
About Sonic Foundry®, Inc.
Sonic Foundry (OTC Pink Sheets: SOFO) is the global leader for video capture, management and streaming solutions. Trusted by more than 5,200 educational institutions, corporations, health organizations and government entities in over 65 countries, its Mediasite Video Platform quickly and cost-effectively automates the capture, management, delivery and search of live and on-demand streaming videos. Learn more at www.sonicfoundry.com .
© 2020 Sonic Foundry, Inc. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.
SSK has been hosting these contests for 15 years, he has thoughtfully developed the dollar volume threshold to reduce the possibility for manipulation, while leaving room for this to serve as a good exercise in discovery and sharing of new ideas in the best performing decile of the market.
Many of us came together around the concept of the Value Microcaps stocks thread twenty years ago and many of us have put up S&P and Russell 2000 beating performance over that same time period.
Maybe we are a bunch of unsophisticated investors playing penny stocks in your opinion, but the data really speaks for itself:
https://microcapclub.com/2017/08/excessive-history-microcaps/
OT: Supermarket exposure.
I was in the supermarket a few weeks ago when a guy in hospital scrubs came walking down the isle, it was like he had a forcefield around him, people were literally tripping over each other to get out of his way, it was kind of hysterical....I thought I should get some scrubs to wear around to assure people give me adequate social distance, lol!