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More great news. Ready for the next leg up.
https://finance.yahoo.com/news/barfresh-expands-annual-production-capacity-123000522.html
Making all the right moves to grow exponentially...
https://finance.yahoo.com/news/barfresh-dramatically-expands-production-capacity-123000899.html
Link to breakout board please.
Shareholders get 1,744 shares of TLPPF for each 2,000 shares of QSAM. Odd shares will be paid out at $6.61.
TLPPF shares locked up (can't sell) until sometime this fall (not sure on date).
I understand Telix is focused on uplisting to NASDAQ ASAP and should happen before the lockup expires.
I think there are some milestones for QSAM to meet that could change things for the better. I'll try to get clarification.
I'll ask about the $28 target. Where did you see that?
You will get paid for your shares at $6.61 (if less than 2000).
I talked with Chris Nelson about how this deal works.
Further questions?
Post and I will answer.
Post #1
Been here since the stock started trading.
Almost exactly 2 years.
Big things coming soon.
Hoping for and expecting some good news and increasing volume by the end of the month.
Another great addition to our team.
Stock ready to take off!
https://finance.yahoo.com/news/barfresh-strengthens-executive-team-industry-123000894.html
hmmm...
Interesting acquisition. Not much detail in the PR though.
https://finance.yahoo.com/news/adventure-starts-now-nightfood-holdings-100000507.html
Great day for BRFH!!!
Investors starting to realize the great value of this stock.
Listen to this recent corporate update:
https://www.webcaster4.com/Player/Index?webcastId=50737&g=4384011f-3e17-4b12-b836-4439bd3fdcf2&uid=6021877&sid=
I think we are finally ready for liftoff. This new ramrod they hired seems to be getting this company moving already:
https://finance.yahoo.com/news/barfresh-announces-appointment-marko-matla-134500897.html
Why Cable and Telecom Stocks Were Soaring Today
Story by Billy Duberstein • 4d • 3 min read
The Affordable Connectivity Program (ACP) is alive
Yesterday, a bipartisan group of Senators introduced an amendment to the 2024 Federal Aviation Administration (FAA) Reauthorization Act, which would provide roughly $6 billion in funding toward the Affordable Connectivity Program (ACP), along with another $3 billion to "rip and replace" equipment from Chinese telecom equipment providers ZTE and Huawei.
Telecom and cable stocks have been facing headwinds, as the current ACP, which provides a $30 per month broadband subsidy to low-income households, is in its final month of funding. Thus far, Congress has balked on continuing to fund the program or find room for it in the federal budget. If the subsidy were to go away, some 23 million households would either not pay their bills or pay only a portion to their current broadband provider, creating a big risk for those providers.
But late Tuesday, a bipartisan group of six Senators introduced an amendment that would attach the ACP to the FAA Reauthorization Act, which must be passed at some point.
Notably, the amendment is a modified form of the ACP bill that was shot down earlier this year. It shrinks the subsidy by about $1 billion from $7 billion to $6 billion, lowering the wage threshold for subsidy qualification while also implementing measures meant to curb waste and abuse.
On their recent conference calls, Charter, Comcast, and Shenandoah all referred to the expiration of the ACP as a potential risk for elevated churn in the upcoming second and third quarters. Charter noted it had 5 million ACP customers out of its roughly 30 million (or 17%) residential relationships. Comcast has about 1.4 million ACP recipients out of about 31.6 (4.4%) million residential customers. And Shenandoah said it had less ACP exposure than large players, at less than 4% of its customer base.
Therefore, should the program be revived, that would be a relief to all these companies' financials. It's a bit curious that Shenandoah is up much more than the others, given its lower proportion of ACP customers. But Shenandoah is a much smaller company at just a $900 million market cap, and positive or negative news tends to have an outsized effect on smaller-cap companies. Shenandoah had also seen its stock essentially cut in half in just the past five months or so. So, it was perhaps due for a bounce on any good news.
In our commitment to maintaining transparency and accountability, we have engaged new auditors, Marcum LLP, to prepare our 10-Q report for 2023. We are diligently working towards meeting the Nasdaq deadline of May 13th for the filing. While we are optimistic about submitting the report by this date, it is paramount that the auditors are thorough. Therefore, if Marcum requires additional time to ensure the accuracy and completeness of the report, we may face a potential Nasdaq delisting notice. We have been proactive in communicating with Nasdaq on the subject. Should this occur, we have been assured by Nasdaq that we have the right to appeal. I want to reassure all stakeholders that in the event of receiving a delisting notice, the Company will indeed pursue an appeal. We are confident that we would be granted the appeal, thereby allowing us sufficient time to finalize and file our 10-Q for 2023, with the 2023 10-K filed thereafter. We appreciate your continued support and understanding as we navigate these processes to fortify our compliance and reporting standards and ensure future timely filings.
What's new in this release? Sounds like what they were already doing.
I couldn't find any news.
Anybody know what caused the spike?
Dear Shareholders,
Subject: Strategic Reorganization for Sustainable Growth
In my December 2023 CEO update letter, I began to outline a new course for Alpine 4 to become a more streamlined, robust, and profitable entity, particularly within the industries of Aerospace and UAV (Unmanned Aerial Vehicle) development, Commercial Electronics, Energy Storage, and Manufacturing.
Our commitment to change began with the termination of our prior auditing firm RSM in early January and the appointment of Marcum in early February. While the change to RSM in Q3 2022 was fraught with challenges, the Board of Directors felt that a fresh start with a new firm that is more in line with our business structure would set the auditor and Company relationship on the right track. We believe once Marcum is fully in cadence with our reporting structure, on time and punctual reporting will follow.
The US business landscape is ever-changing, and Alpine 4 has reached a decisive moment to pivot and embrace the future. In accordance with our Maintain, Invest, Divest, Close (MIDC) process, we have scrutinized our portfolio of subsidiaries to identify what businesses are most likely to push the company forward into the future. The MIDC process has been important in making informed decisions on which entities to maintain, divest, or wind down.
Maintain
RCA Commercial: RCA, renowned for its brand legacy, vast product possibilities, and consistent contribution to stable revenue expansion, is at the crux of our future growth strategy.
Quality Circuit Assembly:?Quality Circuit Assembly (QCA) and its sister entity, Quality Circuit Assembly (Central) located in Arkansas, are an integral part of Alpine 4's manufacturing strategy. QCA is distinguished by its adherence to stringent regulations such as ITAR Compliance and AS9100D/ISO 9001 Certifications meeting the exacting quality demands of the aerospace sector, along with ISO 13485 compliance for medical devices. QCA offers an extensive range of services, including printed circuit board (PCB) assembly, wire harness and cable assembly, box builds, sub-assembly, testing, and prototyping. By persistently prioritizing quality and customer service, QCA has gained a reputation as a trusted partner to industry giants like Apple, Rivian, Tesla, and Facebook, to much smaller companies with high-tech products. With its legacy of excellence, QCA continues to be a driving force behind Alpine 4's operational success and enduring customer satisfaction.
Invest??
Vayu Aerospace Corporation: Vayu remains a strong standout in the 'Invest' category of our MIDC strategy, reflecting Alpine 4's commitment to the aerospace sector which is poised for growth as the Company expands into the UAE and beyond. Our continued investment in Vayu not only aligns with our strategic focus on high-growth potential markets but also leverages our existing capabilities in UAV systems, which are becoming increasingly integral to a myriad of industrial applications. By channeling resources into Vayu Aerospace, we are ensuring that Alpine 4 remains on the leading edge of aerospace technology, ready to capture the burgeoning demand in both civilian and commercial markets. The continued investment underscores our belief in Vayu's potential to significantly contribute to our performance and margins, playing a key role in Alpine 4's sustained profitability and long-term growth.
Identified Technologies: With the adaptation of AI across many different industry subsets, IDT is poised to grow. Our unique data analyzation tools developed by IDT give customers in-depth ways to review, predict, and maintain large geographic areas. Currently, we are looking for new ways to use our 3D Mapping tools to infiltrate markets that are nascent to our technology such as the farming, rail, and communication industries that all need access to robust data analytics and 3D Mapping.
Elecjet: Elecjet represents a strategic investment opportunity for Alpine 4, epitomizing our forward-looking approach to the high-potential energy storage sector. As we commit to investing in ElecJet, we are tapping into the revolutionary advancements in battery technology that are set to redefine energy solutions across industries. Elecjet's work in developing rapid-charging battery systems positions Alpine 4 at the forefront of an energy transformation, where efficiency and sustainability become the keystones of progress. This investment is not just a pursuit of
innovation but also a strategic maneuver to align with global shifts toward greener energy and electrification. By bolstering Elecjet's capabilities, particularly with the establishment of the new pilot lab in San Jose, California, we are poised to capitalize on the growing demand for advanced energy solutions, ensuring a robust contribution to Alpine 4's growth and a greener future.
Global Autonomous Corporation: As you may or may not have seen in recent announcements, Global Autonomous has been making strides in its goal of being a global leader in autonomous delivery. With the passing of the first phase of the Validation Test Campaign (VTC) testing with the Dubai Civil Aviation Authority, the company finds itself in relatively unchartered territory as few companies have achieved this. As Global Autonomous readies for the next Phase of testing, currently planned for mid-May, Global Autonomous is poised to be one of the first international companies certified to fly Beyond Visual Line of Sight (BVLOS) in the Gulf Region. It is still the goal of Alpine 4 to spin Global Autonomous Corporation out into its own public company. Alpine 4 has retained an investment bank and has been engaged in strategic planning relating to a possible future spin out when the equity markets are favorable for such an action. It is important to note that these plans remain in the early stages, and any specific information or terms relating to a spin-out transaction, including a dividend ratio, cannot be established until closer to the commencement of such corporate action, and until all final terms have been determined between the Company and the investment bank and other advisors.
Divest
Morris Sheet Metal / JTD Spiral / Deluxe Sheet Metal: We have begun the process of divesting our Construction Services Holdings starting with Morris Sheet Metal, JTD Spiral, and Deluxe Sheet Metal, which was completed on January 12, 2024.?
Alternative Laboratories: The Company is reviewing offers relating to potential transactions for Alternative Laboratories, with careful consideration to ensure that any transactions align with our overarching strategic vision.
Close:?
Thermal Dynamics: While TDI has been mostly profitable throughout its time as a subsidiary of Alpine 4, the relationship with TDI was not without its own challenges. The reality is that TDI is a difficult business for which to fund operations, and which would tie up cash for extended periods of time. Further, the future outlook of some of the foreign markets in which TDI operated are showing signs of recession. The plan for TDI is to gradually wind down operations over time while keeping its licenses in place in the event Alpine 4 chooses to resurrect the company for future operations.
Excel Construction Services: Excel has initiated a shutdown sequence with a filing of a voluntary petition under CHAPTER 7 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Idaho, which Alpine 4 management believes to be the cleanest method for shutting down this entity. This move, though difficult, is necessary to concentrate Alpine 4’s efforts and capital on areas poised for substantial growth.??
New Formal Structure:
Alpine 4 is akin to an engine which, when firing on all cylinders, creates great motion and the power to achieve/accomplish incredible things. To be candid, our engine has not been firing uniformly, and through disjointed effort has created inefficiencies that has resulted in unproductive capital expenditures, cost overruns and inefficient decision making to name a few. We believe that the solution is centralization but our ability to do so requires many different facets to be established. With the downsizing of Alpine 4 and a more refined focus, we believe that our ability to create and implement a more robust centralization plan is obtainable. For reference, a centralization of accounting, finance, purchasing, and HR offers several significant benefits that can streamline operations and enhance strategic alignment. By consolidating decision-making authority at the top levels of our organization, Alpine 4 can achieve a more unified direction and vision, ensuring that all parts of the business work cohesively towards common goals.This top-down approach will lead to more efficient allocation of resources as decisions regarding investments, cost-cutting, and prioritization of projects are made with a comprehensive understanding of the company's overall strategy and objectives. Centralization also simplifies the communication process, reducing the likelihood of misinterpretation and ensuring that policies and procedures are uniformly applied across the organization. Furthermore, it allows for quicker decision-making in response to market changes or competitive pressures, as fewer individuals are involved in the approval process. This can be particularly beneficial in the industries we serve where speed and agility are critical to maintaining competitive advantage. Over the next six months, management anticipates that the Company will bring in-house much of our accounting, finance, and HR processes to our Corporate Office in Phoenix, AZ. This will allow our subsidiaries to focus on their key objective which is profitable sales.
As we continue to push forward into 2024, you will see that our subsidiary holdings and direction of Alpine 4 change, with the overall goal of positioning Alpine 4 as a technology centric company. I want shareholders to know that we appreciate you sharing our vision as we navigate this pivotal transformation. It also is important to me that you, the shareholders, know we understand the challenges you and we have experienced in the past. We believe that embracing these changes will lead to the success that we all strive for!
Best regards,
Kent Wilson
Hope we get an update on ACP.
1606 Corp.
Wed, February 28, 2024 at 5:30 AM PST·6 min read
CBDW
+35.82%
SEATTLE, WA / ACCESSWIRE / February 28, 2024 / 1606 Corp. (OTC Pink:CBDW) (the "Company"), a technology company focused on Conversational AI applications for e-commerce, is pleased to present investors with a summary of Company accomplishments in February, and an outlook for March.
The state of the market.
In a digital era where nearly 90% of individuals have interacted with chatbots, these AI-driven assistants are revolutionizing communication for 1.5 billion users worldwide. With 22% of micro-businesses and 23% of customer service companies adopting chatbots, the preference for instant, AI-powered assistance over waiting for human agents is clear, with 62% of consumers favoring chatbot conversation, According to colorlib.com This surge in chatbot usage marks a significant shift in both consumer behavior and business operations which bodes extremely well for CBDW as the company moves forward.
Accomplishments in February
Strategic Partnerships: 1606 Corp. announced a strategic partnership with Flex Payment Solutions, aimed at enhancing its commitment to innovative solutions for CBD businesses and cannabis brands. This partnership is expected to streamline transactions, improve customer experiences, and foster growth in the CBD industry.
Marketing Campaigns: The Company launched a new marketing campaign in collaboration with its newest ISO, Cannasite. This campaign involved email and calls to Cannasite's 300+ client base which commenced in early February. Following the successful December CBD Merchant marketing campaign in partnership with Cool Blue Distribution, 1606 Corp. expressed optimism about the results of this second major marketing campaign since the launch of ChatCBDW.
Pilot Program Success: 1606 Corp. reported exciting results from its pilot program in December, which sold out its limited seat pilot program. The Company has since transitioned to its standard pricing model, indicating a promising start to its commercial operations
Focus on AI-driven Chatbots: Throughout February, 1606 Corp. continued to focus on its AI-driven conversational merchandising chatbots, particularly targeting the CBD market. With a commitment to providing innovative solutions for online brands across multiple verticals in 2024, the Company aims to leverage AI technology to enhance customer experiences and drive sales with its proprietary product recommendation engine, unlike anything else in the Chatbot space to date.
Investor Interest: The Company's strategic partnerships, successful marketing campaigns, and focus on AI technology have garnered interest from investors. With its innovative approach to e-commerce and demonstrated success in the CBD industry, 1606 Corp. has positioned itself as a potential investment opportunity for those interested in the rapidly evolving AI-driven market landscape.
Overall, February has been a month of strategic expansion and commercialization for 1606 Corp., with a focus on leveraging partnerships, marketing initiatives, and innovative technology to drive growth in the CBD and e-commerce sectors.
Outlook for March
Growth Through ISO Partners:
Expansion of partnerships with ISOs to increase market penetration and customer acquisition.
Collaborating with ISOs to leverage their networks and reach new clients, driving revenue growth.
New Product Development:
Focus on developing innovative solutions to meet evolving market demands.
Research and development efforts aimed at introducing cutting-edge features and functionalities to enhance our product offerings.
Advancing Existing Technology:
Dedicated focus on refining and optimizing our proprietary product recommendation engine.
Utilizing advanced algorithms and machine learning techniques to enhance the accuracy and effectiveness of product recommendations.
Maintaining Competitive Pace:
Commitment to staying ahead of larger competitors by maintaining agility and flexibility in our development processes.
Rapid iteration and deployment of updates to ensure that our technology remains at the forefront of the industry.
Differentiation Through Unique Technology:
Highlighting the exclusivity of our product recommendation engine as a key differentiator in the market.
Leveraging the advanced capabilities of our technology to provide personalized and tailored experiences for users, setting us apart from competitors.
In summary, March will see 1606 Corp. focusing on growth through strategic partnerships, innovation in product development, and the continued advancement of our technology. By staying agile and leveraging our unique technological capabilities, we aim to maintain a competitive edge in the AI chatbot development industry.
Thank you Danno!
GAL shares? I haven't been keeping up. Could explain briefly?
thx
Again, thanks fung.
I bought 20K shares in 2012 and 10K in 2014.
Do you any info you could forward on the second claim/suit?
Who is the legal entity for this one? Legal team...
thx
Thanks for the response.
Is there another claim/suit in addition to this one?
Rite Aid Securities Settlement
Claims Administrator
c/o Gilardi & Co. LLC
P.O. Box 301135
Los Angeles, CA 90030-1135
Mailed mine today.
Not sure what you mean with the "exclusion".
Could you clarify?
Thanks.
Is there another shareholder claim/settlement suit in addition to this one?
Rite Aid Securities Settlement
Claims Administrator
c/o Gilardi & Co. LLC
P.O. Box 301135
Los Angeles, CA 90030-1135
I sent mine out certified RR today.
Not sure what you are saying about being excluded.
Could you clarify?
Any old timers here going to file the Securities Settlement claim? It's due Monday.
http://www.riteaidsecuritiessettlement.com/
Telix looks like a solid company $2.2B mkt cap and their SP has more than doubled in the last four years.
https://telixpharma.com/
Hi Randy..
Someone plowed through the 8k and they tell me if all milestones are met we could be looking at $28 per share.
He also told me the RS is not a factor in the $28 price as QSAM is being bot for a specific amount and share price/splits will not affect our valuation.
Convert to Telix stock then 6 months 144 lockup period. Then we can trade.
Telix going to uplist to NASDAQ very soon.
We'll see how this pans out.
Where are you Randy? Finally making a move...lol
QSAM Biosciences Signs Definitive Agreement to be Acquired by Telix Pharmaceuticals
Wed, February 7, 2024 at 1:00 PM PST·8 min read
I
Austin, TX, Feb. 07, 2024 (GLOBE NEWSWIRE) -- QSAM Biosciences Inc. (OTCQB: QSAM) (“QSAM or the “Company”) has signed a definitive Agreement and Plan of Merger (the “Agreement”) providing for the acquisition of the Company by Telix Pharmaceuticals Limited (ASX: TLX) (“Telix”).
Pursuant to the Agreement, QSAM stockholders will receive (i) $33.1 million in Telix ordinary shares (“Telix Shares”) or cash, less an adjustment amount equal to QSAM’s indebtedness and payables as of the merger closing (the “Closing Consideration”), and (ii) contingent value rights (“CVRs”) to receive future payments of up to $90 million upon the achievement of four clinical and commercial milestones within ten years of closing.
Prior to closing the merger, QSAM will effect a reverse stock split of its common stock in a ratio between 1:1000 and 1:2000. Each whole share of QSAM common stock outstanding after the reverse split will receive Telix Shares. Any remaining fractional shares of QSAM common stock resulting from the reverse split will be exchanged for an equivalent value in cash on a per share basis based on the per share price of Telix Shares as of the signing date of the Agreement. All QSAM stockholders will receive one CVR for each QSAM common share held prior to the reverse split.
Telix Shares issued to QSAM stockholders will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), but will be issued pursuant an exemption to the registration requirements thereunder, and more specifically, Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D; and as a result, will be subject to resale restrictions under Rule 144 of the Securities Act.
QSAM stockholders representing greater than a majority of the total voting stock of the Company have already approved the merger. Closing, however, is subject to various conditions set forth in the Agreement including, among others, the filing of a definitive information statement pursuant to Regulation 14C of the Securities Exchange Act of 1934, as amended (the “Information Statement”). The merger cannot be closed until 20 days after the mailing of the Information Statement to QSAM stockholders.
Dr. C. Richard Piazza, QSAM’s Executive Chairman and co-Founder, stated, “The signing of our Merger Agreement with Telix marks a major milestone for QSAM and our shareholders. We are thrilled to advance this transaction to signing and expect to complete the transaction in the first half of 2024, subject to the timing of our Information Statement and the satisfaction of customary closing conditions. We believe strongly that Telix is the right partner to advance Samarium-153-DOTMP through clinical trials and give this important technology the best chance to improve the lives of patients suffering from bone cancer. We are equally excited for our shareholders, as we believe this is a great outcome for their investments.”
Dr Christian Behrenbruch, Managing Director and Group CEO of Telix said, “The acquisition of QSAM provides Telix with an additional near-term therapeutic pipeline asset, further differentiating our innovation position in radiopharmaceuticals and building depth in Telix’s key disease focus areas of urological and musculoskeletal oncology. Samarium is a highly optimal radionuclide for treating bone metastases, and the combination of Orphan Drug Designation and Rare Pediatric Disease Designation status with Telix’s demonstrated experience in pharmacy-based cold-kit distribution has strong potential for a rapid pathway to commercialisation of this asset.”
Additional details about the Agreement, the CVRs and other material aspects of the merger and agreements and transactions contemplated by the merger will be provided in the Company’s Form 8-K to be filed subsequently with the SEC.
About Telix Pharmaceuticals Limited
Telix is a biopharmaceutical company focused on the development and commercialization of diagnostic and therapeutic radiopharmaceuticals and associated medical devices. Telix is headquartered in Melbourne, Australia with international operations in the United States, Europe (Belgium and Switzerland), and Japan. Telix is developing a portfolio of clinical-stage products that aims to address significant unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX).
Visit www.telixpharma.com for further information about Telix, including details of the latest share price, announcements made to the ASX, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on X and LinkedIn.
Telix’s lead imaging product, gallium-68 (68Ga) gozetotide injection (also known as 68Ga PSMA-11 and marketed under the brand name Illuccix®), has been approved by the FDA,1 by the Australian Therapeutic Goods Administration (TGA),2 and by Health Canada.3
About QSAM Biosciences, Inc.
QSAM Biosciences, Inc. is developing next-generation nuclear medicines for the treatment of cancer and other diseases. QSAM’s initial technology, 153Sm-DOTMP, is a clinical-stage bone-targeting radiopharmaceutical originally developed by IsoTherapeutics Group LLC and now owned by IGL Pharma Inc.
Legal Notice Regarding Forward-Looking Statements: This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended, related to QSAM, Telix and the proposed acquisition of QSAM by Telix. All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws. These forward-looking statements involve uncertainties that could significantly affect the financial or operating results of QSAM, Telix or the combined company. These forward-looking statements may be identified by terms such as anticipate, believe, foresee, expect, intend, plan, may, will, could, should and would and the negative of these terms or other similar expressions. Forward-looking statements in this document include, among other things, statements about the potential benefits of the proposed acquisition, including future financial and operating results, plans, objectives, expectations and intentions; statements about contingent cash consideration and related milestones as contemplated by the CVR Agreement; and the anticipated timing of closing of the acquisition. In addition, all statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to creating value for stockholders, benefits of the proposed transactions to customers, employees, stockholders and other constituents of the combined company, integrating our companies, cost savings, the expected timetable for completing the proposed transaction, and contingent cash consideration and related milestones as contemplated by the CVR Agreement — are forward-looking statements. These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, risks related to the satisfaction of the conditions to closing the acquisition in the anticipated timeframe or at all; risks related to the ability to realize the anticipated benefits of the acquisition, including the possibility that the expected benefits from the proposed acquisition will not be realized or will not be realized within the expected time period; risks related to the contingent cash consideration and related milestones as contemplated by the CVR Agreement, including that such milestone may not be achieved and thus the related cash consideration would not become payable; the possibility of business disruptions due to transaction-related uncertainty; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the effects of the proposed acquisition (or the announcement thereof) on the trading price of QSAM’s common stock; the risk that the businesses will not be integrated successfully; disruption from the transaction making it more difficult to maintain business, contractual and operational relationships; the unfavorable outcome of any legal proceedings that have been or may be instituted against QSAM, Telix or the combined company, including the risk that stockholder litigation in connection with the proposed acquisition may result in significant costs of defense, indemnification and liability, or present risks to the timing or certainty of the closing of the transaction; the ability to retain key personnel; risks relating to the value of Telix’s shares to be issued in the transaction; significant transaction costs, fees, expenses and charges; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition; the financing of the transaction and QSAM’s interim operations; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; other business effects, including the effects of industry, market, economic, political or regulatory conditions; future exchange and interest rates; changes in tax and other laws, regulations, rates and policies; future business combinations or disposals; and competitive developments.
A further description of risks and uncertainties relating to QSAM can be found in our most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and Current Reports on Form 8-K, all of which are filed with the SEC and available at www.sec.gov.
QSAM does not intend to update the forward-looking statements contained in this document as the result of new information or future events or developments, except as required by law.
QSAM Communications
ir@qsambio.com
Namrata Chand, VP-Operations
What effect will this have on our existing shares?
Proposal 7: Approve the Proposed Amendment to Our Articles of Incorporation to Increase Our Authorized Shares of Common Stock from 40,000,000 Shares to 190,000,000 Shares with a Corresponding Increase in the Total Number of Authorized Shares of Capital Stock of the Company from 50,000,000 Shares to 200,000,000 Shares
It says "up to 1:750"
Still room to change???
SING...Reverse Split ratio of up to 1:300.
Fourth or fifth RS I think.
$7 per whatever shares are left.
https://materials.proxyvote.com/Approved/82932V/20230630/INFST_545835.PDF
https://finance.yahoo.com/news/solar-integrated-roofing-corp-provides-123100207.html
"Combined, these projects will generate more revenue than was realized in the full year 2022. Once those key projects are completed, we will also immediately start the multi-million-dollar Beaches and Harbors project. Our PLEMCo sales & business development team is actively engaged in securing additional large EVSE contracts as we manage our rapidly growing pipeline of business."
SurgePays Announces Partnership with ParichuteConnect
BARTLETT, Tenn., June 27, 2023 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG) ("SurgePays" or the "Company"), a technology and telecommunications company focused on the underbanked and underserved, announced today that it has entered into a Distribution Agreement with ParichuteConnect, a social impact investor who looks to use their investment dollars to effect social improvements, to drive signups in the Affordable Connectivity Program ("ACP") for their focus populations across the United States.
The distribution agreement allows SurgePays the opportunity to provide ParichuteConnect's representatives with the resources necessary to drive ACP applications in state or city school systems, community service organizations, and public service organizations.
President of SurgePays Fintech, Jeremy Gies said, "This agreement is a great opportunity for SurgePays to expand our ACP subscriber base by partnering with local grassroots and even national government organizations. Social awareness and corporate responsibility are foundational to our business model of providing access to the internet and wireless services to the underserved and lower-income markets in our country. With our capability to enroll new wireless customers through a social impact distributor like ParichuteConnect, we can create win-win scenarios, grow the SurgePays network, and increase the benefits offered by our partners."
ACP eligibility is open to households that benefit from various government programs like the free school lunch program, Supplemental Nutrition Assistance Program (SNAP) and Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), among others.
About ParichuteConnect
ParichuteConnect (PAR) was birthed from Mastar Capital, a New York Merchant Bank and social impact investor. In addition to their business pursuits, PAR's founding partners were former chairs of the Boys and Girls Club of America and members of the Bill and Melinda Gates Foundation Advisory Board. PAR developed a Crowdfunding Platform that utilizes luminaries, sports stars, celebrities, etc., who migrate to Social Media sites to encourage donations for worthy causes. PAR has mounted recent campaigns for the Boys and Girls Clubs in connection with the Men's World Cup, using some of the leading world soccer players as sponsors of the campaign. In addition, PAR is mounting a similar campaign for the Women's World Cup this summer.
About SurgePays, Inc.
SurgePays is a technology and telecommunications company focused on the underbanked and underserved. SurgePhone wireless companies provide mobile broadband to low-income consumers nationwide. SurgePays fintech platform utilizes a suite of financial and prepaid products to convert corner stores and bodegas into tech-hubs for underbanked neighborhoods. SurgePays is aggressively cornering the underbanked market directly to the consumer and in the stores where they shop. Please visit www.SurgePays.com for more information.
MZ Contact
Brian M. Prenoveau, CFA
MZ Group - MZ North America
brian.prenoveau@mzgroup.us
+561 489 5315
SurgePays Looks Ready To Scale
Jun. 16, 2023 5:54 PM ETSurgePays, Inc. (SURG)
Michael Dion
SurgePays focuses on underbanked communities, offering prepaid financial services and mobile broadband, and plans to expand its network of partner shops.
The company turned profitable in Q1 2023 and aims to grow from 8,000 stores to have 13,000 stores by the end of 2023 and 25,000 by 2024.
I believe the stock is undervalued as the market is still focused on historical results and not pricing in the benefits of scale that management has guided for 2023.
SurgePays, Inc. (NASDAQ:SURG) is a technology and telecommunications company focused on the underbanked and underserved communities. The company offers a comprehensive suite of prepaid financial services, including mobile broadband through SurgePhone Wireless, as well as prepaid debit cards and other payment solutions.
The company's revenue streams come from two main sources: customer fees for its products and services, such as monthly subscription fees for its mobile broadband service, and royalties from its network of partner shops. SurgePays also has plans to expand its network of partner shops in order to create a bit of a virtuous cycle that will help drive more customers to their products and services.
After being held back by supply chain issues in 2022, SurgePays has set itself up to scale rapidly, planning to more than double its presence in low-income neighborhoods while increasing profitability. The benefits of scale were already beginning to show in Q1 2023 results as the company turned profitable, both in EBITDA and Net Income. I believe the stock is undervalued as the market is still focused on historical results and not pricing in the benefits of scale that management has guided (and started delivering on) for 2023.
Driving Scale Through The "Corner Store"
SurgePays has driven most of its growth by leveraging the Affordable Connectivity Program. The ACP is a federal initiative in the United States to provide affordable internet access to low-income households. The program offers a $30 monthly subsidy to eligible families to help offset the cost of broadband service provided by participating internet service providers. In addition, the program provides a one-time discount of up to $100 for a laptop, tablet, or desktop computer purchased through a participating retailer.
SurgePays offers its services to consumers through neighborhood convenience stores, which is the cornerstone of its strategy to scale. As discussed in the Q1 2023 earnings call, SurgePays has 8,000 stores online now and expects to have 13,000 by the end of 2023. They are also staging to have 25,000 stores by the end of 2024.
Management noted in the Q1 2023 earnings press release that growth in 2022 stagnated due to supply chain issues with the tablets SurgePays provides convenience store owners. The supply chain issue was resolved, and SurgePays has also cut the cost of tablets by almost half, setting the company up to onboard thousands of retailers this year. In addition, management noted that they resolved supply chain issues with pre-paid mobile devices, allowing them to onboard customers to pre-paid plans with "unthrottled sales capacity." This explains why 2023 performance and scale will look so different from the stagnant performance in 2022.
EBITDA Has Turned A Corner And Continues To Improve
SurgePays turned profitable in Q1 2023 on $34.8 million in revenue, posting a net income of $4.5 million and EBITDA of $5.0 million. This was an eye-popping improvement from the full year 2022 which generated a net income of ($0.7) million and EBITDA of $1.6 million.
In the Q1 2023 earnings release, management provided revenue guidance for 2023 of $190 million or roughly $47.5M per quarter. Since Q1 was only $34.8 million, the growth is heavily backloaded, as management confirmed in the earnings call. While they wouldn't provide specific EBITDA guidance, they indicated in the earnings discussion that it would scale at a similar rate from Q4 2022 to Q1 2023. This would give an EBITDA range of $26 to $30 million across the full year or a 14-16% margin at the low end.
Valuation Multiples Don't Reflect Growth Trajectory
Given the rapid growth and quick turn to profitability, you would expect fairly strong valuation multiples. However, that is not at all the case. The Wireless Telecommunications Sector overall is made up of more mature, slower-growing companies. Yet, SurgePays has a P/E ratio of 60% below the sector, an EV / Sales ratio of 69% below the sector, and an EV / EBITDA ratio of 29% below the sector. Depressed valuations made sense in 2022 as growth stagnated, but the market has not reacted to the business momentum in 2023.
Looking at the quant ratings, SurgePays is given a Strong Buy rating even with the company having just turned profitable. As discussed above, momentum and growth ratings are especially strong, with valuation lagging.
Downside Potential
First and foremost, relying on government programs is always tricky. If funding for the ACP program is cut by future legislation, it could have an effect on SurgePays’ customer base and revenue.
Second, there are numerous competitors in the market. SurgePays may be one of the frontrunners now, but that doesn’t mean they won’t face increased competition soon. It will be important to keep up with technological advances and maintain strong customer relationships to avoid being outpaced.
Lastly, the success of SurgePays is highly dependent on its ability to scale rapidly. If they are unable to recruit new stores successfully and hit their target of 25,000 stores, then their revenue and profitability could be impacted.
Verdict
SurgePays has taken a unique approach to scaling by focusing on neighborhood convenience stores and has already seen success with its 8,000 stores online. They will have 13,000 stores by the end of 2023 and 25,000 by 2024. Profitability is improving as well, with improved EBITDA and revenue growth. Valuation multiples are very depressed for a company driving this type of profitability, making it an attractive investment opportunity. However, there are risks to be aware of, particularly in relying on government programs and the potential for increased competition.
Despite the risks, I believe that the stock is undervalued as the market hasn't given SurgePays credit for its demonstrated ability to scale and the profitability improvements in the Q1 2023 results. I rate this stock a buy, as I think the growth potential and momentum in 2023 outweigh the long-term risks.
Tribeca Energy Fund USD 133m
Looks like a merger with a $133M company
May 25, 2023 - 8:31 am
HENDERSON, Nev., May 25, 2023 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC:SIRC) (“SIRC” or the Company”), an integrated, single-source solutions provider of solar power, roofing and EV charging systems, specializing in commercial and residential properties throughout North America, today announced that it has executed a binding Letter of Commitment (“LOC”) with Tribeca Energy, a holding company represented by Global Fund LLC & Neo Energy Storage Ltd.
The LOC sets out irrevocable terms and conditions under which SIRC commits to the sale of certain shares in return for investment by Tribeca Energy. The share exchange agreement will give Tribeca Energy 100% ownership of the Company’s shares as well as a majority of its board seats.
Letter of Commitment Terms
Tribeca Energy shall consummate a merger agreement to list on the NYSE/Nasdaq by October 30, 2023, pending completion of all relevant/necessary documents, and no later than 12 months from the time of this LOC.
SIRC shall not engage with any third party in a way that may result in the change in the capital structure of the Company until October 30, 2023, without a prior written consent of the Tribeca Energy.
Following the execution of the definitive agreements, the majority of the board of the Company shall be comprised of new members appointed by Tribeca Energy; Each new director is to resign should the contemplated merger not be consummated in 12 months with an option to extend for another 6 months.
“Our objective is to be the premier all-inclusive alternative energy solution in the market and this definitive agreement is another step in that direction,” said Brad Rinehart, Chief Executive Officer of SIRC. “The agreement will enable us to achieve our goals and we anticipate that it will yield results to SIRC’s bottom line, benefiting all our shareholders and constituents. We look forward to working with the entire teams at Tribeca Energy, Global Fund LLC and Neo Energy Storage Ltd which are dedicated to our shared success.”
Joe HQ Luong, Partner at Tribeca Energy and NEO Energy Storage Ltd, added: “Neo Energy Storage Ltd and Global Fund LLC have joined forces to form Tribeca Energy. Tribeca Energy is a vertically integrated holding company that is merging a group of outstanding companies in the renewable and long duration energy storage sector to go public in Q4 2023. We are thrilled to work with the team at Solar Integrated Roofing Corp to consolidate their already extensive solar proposition outreach and combine it with long duration energy storage to achieve our vision to decarbonize the world’s electricity grid systems by 2050 and transform the economy by building a sustainable future through energy security.”
Stephen Drew, Partner at Tribeca Energy and Global Fund LLC, added: “Global Fund is a 23-year-old private equity firm focused on investing in high-growth companies across various industries and geographies, pre-IPO. The firm specializes in acquiring small to medium-sized companies that can add value to our well-defined strategies. We are excited to work with their incredible and dedicated team at Solar Integrated Roofing Corp and merge them with our group of solar and long duration energy storage companies.”
LOL is right. Ridiculous.