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Thanks..yeah long term investment should be good. Good luck to you too.
HUH? Look at a chart. The last 2 months it has GAINED almost 200%.
From Mid March till now it went from $7 to $23.
More than TRIPLED.
YES from January till March you would have lost a lot.
BUT NOT the last 2 MONTHS.
I TRIED to help you, but instead you got it MORE WRONG.
First with reverse splits and now this.
Good bye and take care.
I am done.
REVERSE split = Less shares at higher price. VALUE = the SAME.
Normal split = more shares at lower price. VALUE = the SAME.
Spits are done just to bring more buyers to the table in the opinion of the company.
Example say APPLE is $300 a share and you have 100 shares.
VALUE is $30,000
So in 2:1 split the price goes to $150 but now you have 200 shares.
VALUE is the SAME $30,000.
GET it??????
In AMZA case: reverse split is to raise the price but reduce the shares.
VALUE = the SAME
https://en.wikipedia.org/wiki/Reverse_stock_split
And we are both YANKEE fans.
I am really trying to help you. I hope you understand that?
Charts are adjusted for splits.
AMZA has gained almost 200% since March. Charts are adjusted for splits. The GAIN of 200% is not including the INTEREST from dividends.
A bit DUMB. Reverse splits do not ADD value my friend. Or regular splits. NOTHING changes with any kind of SPLIT, but the shares owned and the price but the VALUE ALWAYS REMAINS THE SAME. You should KNOW that. I GAINED $11,000 with NOTHING to do with a reverse split, but because the VALUE went up. Why don't you just google splits?
HERE I did it for YOU: "A stock split is used primarily by companies that have seen their share prices increase substantially and although the number of outstanding shares increases and price per share decreases, the market capitalization (and the value of the company) does not change."
THE PRICE CHANGES with any kind of SPLIT but NEVER the VALUE.
READ this and EDUCATE yourself and LEARN.
https://www.investopedia.com/ask/answers/what-stock-split-why-do-stocks-split/
How old are you?
I am not trying to be MEAN.
I didn't call YOU DUMB, I only meant that your comment was DUMB.
So TRY to LEARN and then comment with something SMARTER.
PLEASE
And GOOD luck.
Yeah those days I remember well. LOL
OK thanks for the briefing. I am interested and will keep an eye on this.
Stay safe my friend.
Hi FUNMAN - Remember me? I was checking this stock out.
I guess you still like it at $10?
The targets are like $15 -$18.
Ray
AMZA (oil) tripled 10 weeks.7-25. I doubled in like 2 months, PLUS the 12% dividends.
AMZA tripled in 10 weeks. $7's to $25. I doubled in like 2 months, PLUS the 12% dividends.
EVFM-In $3.50-$11/$13.40 price targets
June 08 - Piper Sandler Initiates Coverage On Evofem Biosciences with Overweight Rating, Announces Price Target of $11
June 09, 2020
6:53 am ET
Evofem Biosciences Is Maintained at Buy by HC Wainwright & Co. Dow Jones
June 08, 2020
10:54 am ET
Why Evofem Biosciences Is Trading Higher Today (June 9th)
Benzinga
7:30 am ET
*Evofem Biosciences shares are trading higher after analysts at Piper Sandler initiated coverage on the stock with an Overweight rating and announced an $11 price target.
Benzinga
https://www.tipranks.com/stocks/evfm/price-target
$13.40
EVFM-In $3.50 - $11/$13.40 price targets
June 08 - Piper Sandler Initiates Coverage On Evofem Biosciences with Overweight Rating, Announces Price Target of $11
June 09, 2020
6:53 am ET
Evofem Biosciences Is Maintained at Buy by HC Wainwright & Co. Dow Jones
June 08, 2020
10:54 am ET
Why Evofem Biosciences Is Trading Higher Today
Benzinga
7:30 am ET
*Evofem Biosciences shares are trading higher after analysts at Piper Sandler initiated coverage on the stock with an Overweight rating and announced an $11 price target.
Benzinga
https://www.tipranks.com/stocks/evfm/price-target
$13.40
I have had it 2 years.
I just got in.
MESA (airline play) up 21% PM
CRK oil play. "Why Comstock (CRK) Stock Might be a Great Pick" 8:15 am ET June 1, 2020 (Zacks)
"One stock that might be an intriguing choice for investors right now is Comstock Resources, Inc. CRK. This is because this security in the Oil and Gas - Exploration and Production - United States space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Oil and Gas - Exploration and Production - United States space as it currently has a Zacks Industry Rank of 30 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Comstock is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
In fact, over the past month, current quarter estimates have risen from 2 cents per share to 4 cents per share, while current year estimates have risen from 38 cents per share to 39 cents per share. This has helped CRK to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
So, if you are looking for a decent pick in a strong industry, consider Comstock. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment."
BTG gold play. "New Strong Buy Stocks" For June 3rd
Zacks June 03, 2020
9:34 am ET
B2Gold Corp Price Target Raised to C$10.50
by Canaccord Genuity
Dow Jones
May 20, 2020
12:13 pm ET
Also target is $10.50
May 20, 2020
12:13 pm ET
B2Gold Corp Price Target Raised to C$10.50/Share From C$10.00 by Canaccord Genuity
Dow Jones
CEMI alert: Charts very favorable plus it just got initiated with a $21 price target and is under $10 right now after coming off of almost $16 after FDA gave them Emergency Use Authorization for testing of Covid-19. The chart pattern is a bullish falling wedge and it should have support at around $9.50 or so. Selling is drying up.
I feel it has retraced the usual 50% after a big 300% run up and is set for a run back up. Just my opinion of course.
"Baird initiated coverage on Chembio Diagnostics Inc (NASDAQ: CEMI) with an Outperform rating. The price target for Chembio Diagnostics is set at $21.00. For the first quarter, Chembio Diagnostics had an EPS of ($0.25), compared to year-ago quarter EPS of ($0.14). The stock has a 52-week-high of $15.89 and a 52-week-low of $2.25. Chembio Diagnostics's stock last closed at $10.87 per share."
$21 price target initiated: "Baird initiated coverage on Chembio Diagnostics Inc (NASDAQ: CEMI) with an Outperform rating. The price target for Chembio Diagnostics is set at $21.00. For the first quarter, Chembio Diagnostics had an EPS of ($0.25), compared to year-ago quarter EPS of ($0.14). The stock has a 52-week-high of $15.89 and a 52-week-low of $2.25. Chembio Diagnostics's stock last closed at $10.87 per share."
"outperform" initiated 6:36 am ET May 26, 2020
"Chembio Diagnostics Initiated at Outperform by Baird"
CEMI (Covid testing) "outperform" initiated 6:36 am ET May 26, 2020
"Chembio Diagnostics Initiated at Outperform by Baird"
$10.58 - I did say $10 (link back)
CEMI (testing) NEWS today and more coming. "Thermo Fisher to Distribute Chembio's Covid-19 Serological Test"
7:13 am ET May 18, 2020 (Dow Jones)
Chembio Diagnostics Inc. said Monday it has signed a multi-year, non-exclusive agreement with Thermo Fisher Scientific's health-care channel to distribute Chembio's DPP Covid-19 System in the U.S.
Chembio said the DPP Covid-19 System is a rapid serological test and analyzer that provides numerical readings for both IgM and IgG antibody levels within 15 minutes from a finger stick drop of blood. The system can include either Chembio's Micro Reader 1 or Micro Reader 2 analyzer.
Chembio shares rose 10% to $13.35 in premarket trading.
NEWS today and more coming. "Thermo Fisher to Distribute Chembio's Covid-19 Serological Test"
7:13 am ET May 18, 2020 (Dow Jones)
Chembio Diagnostics Inc. said Monday it has signed a multi-year, non-exclusive agreement with Thermo Fisher Scientific's health-care channel to distribute Chembio's DPP Covid-19 System in the U.S.
Chembio said the DPP Covid-19 System is a rapid serological test and analyzer that provides numerical readings for both IgM and IgG antibody levels within 15 minutes from a finger stick drop of blood. The system can include either Chembio's Micro Reader 1 or Micro Reader 2 analyzer.
Chembio shares rose 10% to $13.35 in premarket trading.
Dilution could be good going forward?
I didn't say it was BAD. Only disappointing! And the benzinga news wire said the same, but yes surprisingly it is up AH.
But you can READ the numbers right?
They all suck, but it is driven by "anticipation" and nothing wrong with that my friend.
Good luck
$10? Chembio Diagnostics Q1 EPS $(0.290) Misses $(0.230) Estimate, Sales $6.900M Miss $7.730M Estimate
4:20 pm ET May 4, 2020 (Benzinga)
Chembio Diagnostics (NASDAQ:CEMI) reported quarterly losses of $(0.290) per share which missed the analyst consensus estimate of $(0.230) by 26.09 percent. This is a 107.14 percent decrease over losses of $(0.140) per share from the same period last year. The company reported quarterly sales of $6.900 million which missed the analyst consensus estimate of $7.730 million by 10.74 percent. This is a 16.88 percent decrease over sales of $8.301 million the same period last year.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.*Chembio Diagnostics shares are trading lower after the company reported worse-than-expected Q1 EPS and sales results.(Benzinga)
Disappointing!
Chembio Diagnostics Reports First Quarter 2020 Financial Results
4:07 pm ET May 4, 2020 (Globe Newswire) Print
Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostics company focused on infectious diseases, today reported financial results for the quarter ended March 31, 2020.
Recent Accomplishments & Highlights
-- Attained FDA Emergency Use Authorization for the DPP COVID-19 IgM/IgG System serological test
? Announced the U.S. launch and shipments to customers of the DPP COVID-19 System
? Selected by Stony Brook Medicine as the testing solution to identify COVID-19 survivors for study on COVID-19 convalescent plasma therapy
? Received a $4.0 million purchase order from Bio-Manguinhos for our DPP COVID-19 System
-- Completed the reproducibility study and submitted data to the FDA for our DPP HIV-Syphilis test
-- Appointed Richard Eberly as President and Chief Executive Officer and director and appointed Gail Page as Executive Chair of the Board
-- Achieved total revenue of $6.9 million and product revenue of $5.7 million
"During the first quarter, we refocused our business strategy to address the escalating need for COVID-19 diagnostic tests. In a short period of time, we developed a COVID-19 serological testing system, received FDA Emergency Use Authorization and began shipping tests to customers in the United States and Brazil in April. Our differentiated testing system offers numerical discrete detection of both IgM and IgG antibodies in approximately 15 minutes from a fingerstick. Then, in approximately 15 seconds, the DPP COVID-19 System reads the test to provide numerical results using the portable Micro Reader analyzers that are engineered and produced by our wholly owned subsidiary in Germany. Numerical results reduce the possibility of the types of human error that can be experienced in the visual interpretations required by many other serological tests," said Gail Page, Chembio's Executive Chair of the Board. "We are proud to be serving the needs of clinicians and the broader healthcare community in this time of crisis."
"It has been an extremely productive first few weeks in my new role as CEO. Amid these challenging circumstances, the skill and hard work of this team has enabled a successful strategic pivot as we prioritize manufacturing and commercialization of our DPP COVID-19 System," said Richard Eberly, Chembio's Chief Executive Officer. "Through efficient use of our resources and technical ability, we are scaling production of these tests due to the strong demand we are experiencing. We believe the features and benefits offered by our DPP COVID-19 System will make it a preferred solution."
First Quarter 2020 Financial Results
Total revenue for the first quarter of 2020 was $6.9 million, a decrease of 20% compared to the prior year period. Net product sales for the first quarter of 2020 were $5.7 million, a decrease of 14% compared to the prior year period. License and royalty revenue together with R&D and grant revenue for the first quarter of 2020 was $1.1 million, a decrease of 40% compared to the prior year period.
Gross product margin for the first quarter of 2020 was $1.3 million, compared to $1.6 million for the prior year period. Gross product margin percentage for the first quarter of 2020 was 23.5%, compared to 24.3% for the prior year period, a decrease resulting primarily from unfavorable average selling prices due to geographic mix.
Research and development expenses decreased by $0.3 million, or 12%, for the first quarter of 2020 compared to the prior year period. Selling, general and administrative expenses increased by $0.5 million, or 12%, for the first quarter of 2020 compared to the prior year period, with $0.4 million of the increase representing severance and related costs and acquisition costs, for a net increase of $0.1 million, or 4%.
Net loss for the first quarter of 2020 was $5.0 million, or $(0.29) per diluted share, compared to a net loss of $2.8 million, or $(0.16) per diluted share, for the prior year period.
Cash and cash equivalents as of March 31, 2020 totaled $11.2 million.
Conference Call
Chembio will host a conference call today beginning at 4:30 pm ET to discuss its financial results and recent business highlights. Investors interested in listening to the call may do so by dialing 844-602-0380 from the United States or 862-298-0970 from outside the United States. To listen to a live webcast of the call, please visit the Investor Relations section of Chembio's website at www.chembio.com. Following the call, a replay will be available on the Investor Relations section of Chembio's website for 90 days. A telephone replay will be available until 4:30 pm ET on May 18, 2020 by dialing 877-481-4010 from the United States or 919-882-2331 from outside the United States and using the conference ID: 34409.
About Chembio Diagnostics
Chembio is a leading point-of-care diagnostics company focused on detecting and diagnosing infectious diseases including COVID-19, sexually transmitted disease and fever and tropical disease. Chembio's patented DPP technology platform, which uses a small drop of blood from the fingertip, provides high-quality, cost-effective results in approximately 15 minutes. Coupled with Chembio's extensive scientific expertise, its novel DPP technology offers broad market applications beyond infectious disease. Chembio's products are sold globally, directly and through distributors, to hospitals and clinics, physician offices, clinical laboratories, public health organizations, government agencies and consumers. Learn more at www.chembio.com.
Forward-Looking Statements
Statements contained in this release that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of Chembio and its management. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to: the impact to our business, our suppliers and our customers of the COVID-19 pandemic and the actions taken to combat the COVID-19 pandemic; the ability of Chembio to maintain existing, and timely obtain additional, regulatory approvals, particularly for our DPP COVID-19 System; and the risks of doing business with foreign governmental entities, including geopolitical, international and other challenges as well as potential material adverse effects of tariffs and other changes in U.S. trade policy. Chembio undertakes no obligation to publicly update forward-looking statements in this release to reflect events or circumstances that occur after the date hereof or to reflect any change in Chembio's expectations with regard to the forward-looking statements or the occurrence of unanticipated events. Factors that may impact Chembio's success are more fully disclosed in Chembio's public filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and its subsequent Quarterly Reports on Form 10-Q, particularly under the heading "Risk Factors." You should interpret many of the risks identified in these reports as being heightened as a result of the ongoing and numerous adverse impacts of the COVID-19 pandemic.
DPP is Chembio's registered trademark. For convenience, this trademark appears in this release without (R) symbols, but that practice does not mean that Chembio will not assert, to the fullest extent under applicable law, its rights to the trademark.
Investor Relations Contact
Lynn Pieper Lewis
Gilmartin Group
(415) 937-5402
investor@chembio.com
CHEMBIO DIAGNOSTICS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
For the three months ended
March 31, 2020 March 31, 2019
REVENUES:
Net product revenue $ 5,716,593 $ 6,624,285
R&D and grant revenue 907,687 1,701,789
License and royalty revenue 235,304 216,191
TOTAL REVENUES 6,859,584 8,542,265
COSTS AND EXPENSES:
Cost of product revenue 4,374,442 5,011,636
Research and development expenses 1,958,853 2,217,632
Selling, general and administrative expenses 4,156,641 4,013,071
Severance and related costs 723,118 -
Acquisition costs 63,497 395,612
11,276,551 11,637,951
LOSS FROM OPERATIONS (4,416,967 ) (3,095,686 )
OTHER INCOME:
Interest (expense) income, net (662,141 ) 6,684
LOSS BEFORE INCOME TAXES (5,079,108 ) (3,089,002 )
Income tax (benefit) (79,559 ) (272,469 )
NET LOSS $ (4,999,549 ) $ (2,816,533 )
Basic and Diluted loss per share $ (0.29 ) $ (0.16 )
Weighted-average number of shares outstanding, basic 17,197,301 17,166,459
Weighted-average number of shares outstanding, diluted 17,197,301 17,166,459
CHEMBIO DIAGNOSTICS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF
(Unaudited) December 31, 2019
March 31, 2020
- ASSETS -
CURRENT ASSETS:
Cash and cash equivalents $ 11,238,017 $ 18,271,352
Accounts receivable, net 4,877,842 3,661,325
Inventories, net 10,930,159 9,598,030
Prepaid expenses and other current assets 798,228 693,013
TOTAL CURRENT ASSETS 27,844,246 32,223,720
FIXED ASSETS:
Property, plant and equipment, net 6,659,279 5,933,569
Finance lease right-of-use asset 226,305 210,350
TOTAL FIXED ASSETS, net 6,885,584 6,143,919
OTHER ASSETS:
Operating lease right-of-use asset, net 6,785,668 7,030,744
Intangible assets, net 3,655,858 3,914,352
Goodwill 5,493,045 5,872,690
Deposits and other assets 528,261 543,539
TOTAL ASSETS $ 51,192,662 $ 55,728,964
- LIABILITIES AND STOCKHOLDERS' EQUITY -
CURRENT LIABILITIES:
Accounts payable and accrued liabilities $ 6,536,134 $ 5,526,243
Deferred revenue 543,345 125,000
Note payable 112,928 180,249
Finance lease liabilities 47,192 41,894
Operating lease liabilities 766,896 568,294
TOTAL CURRENT LIABILITIES 8,006,495 6,441,680
OTHER LIABILITIES:
Long-term operating lease liabilities 6,770,005 6,969,603
Long-term finance lease liabilities 184,095 171,953
Long-Term debt, less current portion, and debt discount and issuance costs 17,771,268 17,644,149
Deferred tax liability 327,542 466,326
TOTAL LIABILITIES 33,059,405 31,693,711
STOCKHOLDERS' EQUITY:
Preferred stock - 10,000,000 shares authorized, none outstanding - -
Common stock - $0.01 par value; 100,000,000 shares authorized, 17,327,235 shares and 17,733,617 shares issued at March 31, 2020 and December 31, 2019, respectively 173,272 177,335
Additional paid-in capital 95,543,043 95,433,077
Accumulated deficit (76,584,552 ) (71,585,003 )
Treasury Stock, 31,486 shares at cost (145,056 ) -
Accumulated other comprehensive (loss) income (853,450 ) 9,844
TOTAL STOCKHOLDERS' EQUITY 18,133,257 24,035,253
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 51,192,662 $ 55,728,964
CHEMBIO DIAGNOSTICS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
For the three months ended
March 31, 2020 March 31, 2019
Net cash used in operating activities $ (5,651,960 ) $ (4,754,878 )
Net cash used in investing activities (1,078,271 ) (577,472 )
Net cash provided by financing activities (223,290 ) (29,930 )
Effect of exchange rate changes on cash (79,814 ) 208,407
DECREASE IN CASH AND CASH EQUIVALENTS (7,033,335 ) (5,153,873 )
Cash and cash equivalents - beginning of the period 18,271,352 12,524,551
Cash and cash equivalents - end of the period $ 11,238,017 $ 7,370,678
https://ml.globenewswire.com/media/637e69b9-1755-465f-91d0-bf49888ede66/small/chembio-jpg.jpg
Earnings on Monday? Interesting report I am sure. Who knows what to expect?
Good luck all.