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Just a "head scratcher" for me ....
Last quarter was disappointing because of that charge = share price dropped ... I get it ...
This quarter #s look real good , no share price reaction .. ???
Maybe I just need to be more patient before I turn into a patient ...
That would be nice ... Why not state that is the plan going forward ?
( FD ) I am here to make $$$$ so share price is important to me .
Stay safe >> M
Thinkin' the same thing ... Do they have a PR firm ?
Should be north of $4 I would think ...
Stay safe >> M
Wetouch Technology Inc. (WETH) Reports Second Quarter 2021 Unaudited Financial Results :
https://www.otcmarkets.com/filing/html?id=15149095&guid=UrN1k6-asmnFrth
-Revenues increased by 186.8% to $15.2 million-
-Net income increased by 155.0% to $5.1 million-
Chengdu, China, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Wetouch Technology Inc. (OTCQB: WETH) ("Wetouch" or "the Company"), a specialty manufacturer of medium to large sized projected capacitive touchscreens, today announced its unaudited financial results for the second quarter ended June 30, 2021.
Second Quarter 2021 Financial Highlights
Revenues were US$15.2 million, an increase of 186.8% from $5.3 million in the second quarter of 2020
Gross profit was $7.9 million, an increase of 192.6% from $2.7 million in the second quarter of 2020.
Gross margin was 51.9%, compared with 50.7% in the second quarter of 2020.
Net income was $5.1 million, compared to $2.0 million in the second quarter of 2020.
Total volume shipped was 711,548 units, an increase of 145.6% from 289,668 units in the second quarter of 2020.
Cash flow from operations was $11.1 million, compared to $5.6 million in the six months ended June 30, 2020.
Cash as of the end of the second quarter of 2021 was $52.6 million, compared to $23.0 million as of December 31, 2020.
Basic and diluted EPS were $0.2, compared with $0.1 in the same period of 2020.
“Our second quarter results continued to be strong leading off our fiscal year 2021 on a positive note, and we are pleased with our progress and remain on track to deliver full-year robust top and bottom-line growth. Business conditions remained exceptionally strong through the second quarter with record bookings and backlog for product to be shipped over multiple quarters. The commitment of each one of our employees is paying off and once again we are generating record growth in new customer business. At the same time, existing customers are increasingly purchasing our products both in China and abroad.” Mr. Guangde Cai, Chairman of WETH, commented, “Geographically, sales from PRC increased by 206.3%, complemented by a 157.1% increase from overseas. Units sold increased by 145.6% to 711,548 touchscreens in the second quarter of 2021 from 289,668 units in the same period last year. Average selling price of our products also increased by 18.0% thanks to the increased sales of new models of higher-end products of such as touch screens used in gaming machine with higher selling price in domestic market during the three-month period ended June 30, 2021. As one of the leading manufacturers of medium to large sized projected capacitive touchscreens in China, we are confident that our exceptional products and services, as well as our constantly improved and expanded product offering, would enable us to gain market share and deliver long-term value for our shareholders."
Second Quarter 2021 Financial Results
Total Revenues. We generated revenue of $15.2 million and $5.3 million for the three months ended June 30, 2021 and 2020, respectively, an increase of $9.9 million, or 186.8%, compared to $5.3 million in the same period of last year. This was due to an increase of 145.6% in sales volume and of 18.0% in the average selling price of our products, and 9.7% positive impact from exchange rate due to appreciation of RMB against US dollars, compared with those of the same period of last year.
Gross Profit and Gross Profit Margin. Gross profit was $7.9 million in the second quarter ended June 30, 2021, compared to $2.7 million in the same period of 2020. Our gross profit margin increased to 51.9% for the second quarter ended June 30, 2021 as compared to 50.7% for the same period of 2020, primarily due to product mix shift to higher gross profit margin products such as POS touchscreens, gaming touchscreens, industrial control computer touchscreens and medical touchscreens.
Gain on Asset Disposal. Gain on asset disposal was $7.6 million for the six-month period ended June 30, 2021 compared to nil in the same period in 2020. Pursuant to local PRC government guidelines on local environment issues and the national overall plan, Sichuan Wetouch is under the government-directed relocation order to relocate no later than December 31, 2021 and received compensation accordingly. On March 18, 2021, pursuant to the agreement with the local government and an appraisal report issued by a mutual agreed appraiser, Sichuan Wetouch received compensation of RMB115.2 million ($17.8 million) for the withdrawal of the right to use of state-owned land and the demolition of all buildings, facilities, equipment and all other appurtenances on the land. During the six-month period ended June 30, 2021, the Company recorded a gain of $7,625,165 for the asset disposal.
Income Tax Expenses. Income tax expense was $1.9 million for the three-month periods ended June 30, 2021, as compared to $0.3 million in the same period a year ago. The effective income tax rates for the three-month periods ended June 30, 2021 and 2020 were 27.1% and 14.9%, respectively. The increase of the effective income tax rate was partially due to the increase of $0.6 million income tax clearance for Sichuan Wetouch for the year ended 2020.
Net Income. We had a net income of $5.1 million in the second quarter of 2021 compared to a net income of $2.0 million in the same quarter of 2020.
Basic and diluted EPS. Basic and diluted net income per share were $0.2, compared with $0.1 in the same period of 2020.
Cash and cash equivalents. As of June 30, 2021, our cash and cash equivalents were $52.6 million, as compared to $24.0 million at December 31, 2020.
Seller must have some other play that can't wait or something like that ...
This penny market sometimes requires lots of patience ... Especially quiet ones .
It's not like this one is in danger of running afoul of the new SEC rules ...
Stay safe >> M
Picked up some @ .52 for sometime in the future ... LOL .
Stay safe >> M
Get out of the way and let it crash ...
Pick some up for a quarter .
Stay safe >> M
Some nice ask smacking coming in .. News ??
Stay safe >> M
I agree that it must be Wu that is driving this down .
Maybe we should get out of the way and pull any bid support ...
I think that we have known for a while that this was inevitable but then a crazy "run" develops .
Maybe we will get another one . That would be nice .
Fingers crossed >> M
Redickulous trading .. Constant hits to ask , doesn't even blink ...
Stay safe >> M
So , to help alleviate concern regarding the upcoming changes to Rule 15c2-11 , I contacted OTC-markets .
They responded saying "Limited Information" and "Verified Profile" continues to trade as usual .
Stay safe >> M
Multiple hits @ .70 ask , ALPS didn't even flinch ...
Stay safe >> M
ALPS is back ... Soooo sad .
Maybe there will be another "what the heck" run sometime soon ...
Stay safe >> M
Fury Drills High-Grade Gold at the Eau Claire Hinge Target; Exploration Drilling Resumes at Snake Lake :
TORONTO, ON / ACCESSWIRE / August 4, 2021 / Fury Gold Mines Limited (TSX:FURY)(NYSE American:FURY) ("Fury" or the "Company") is pleased to provide results for eight core drill holes at the Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec, including results from the Company's deposit drilling and initial results from the western extension targets. Three of the drill holes focused on the previously untested Hinge target at the western limit of the Eau Claire deposit. Significant intercepts included 1.0 metre (m) of 12.81 g/t gold and 8.0m of 1.18 g/t gold, demonstrating that the Hinge target has both high-grade veins and broader zones of mineralization. All three holes encountered stacked zones of quartz tourmaline veining and associated amphibole-biotite alteration in the same iron rich basalt that hosts the current Eau Claire resource (Figure 1).
"We strongly believe that Eau Claire has the potential to expand considerably at the Hinge and Limb target areas, and through drilling along the Snake Lake structure. We are also very excited about our ongoing drill program at the 8km Raven shear zone at Committee Bay, with results expected in September," commented Mike Timmins, President and CEO of Fury. "With four drill rigs turning in Quebec and Nunavut, we are looking forward to a robust second half of the year, with a lot more ounces to be discovered through exploration."
https://www.otcmarkets.com/stock/FURY/news/story?e&id=1961981
PureGold Declares Commercial Production :
VANCOUVER, British Columbia, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), is pleased to announce that commercial production has been achieved at the PureGold Mine, effective August 1, 2021.
Following a successful commissioning period, the PureGold mine, milling facilities, and other critical systems are now all operating in line with or rapidly approaching design capacity of 800 tonnes of ore per day on a sustainable basis.
Darin Labrenz, President & CEO of PureGold, commented, “Commercial production is a significant milestone and marks the beginning of a very exciting growth phase for the Company. By combining stable gold production with the high-grade exploration potential that makes the PureGold Mine so unique, we are making significant progress toward our goal of unlocking the full potential of the PureGold Mine and becoming Canada’s next iconic gold producer.”
Qualified Persons and 43-101 Disclosure
Ken Donner, P. Eng., Vice President, Operations is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approve of the written disclosure of same.
About Pure Gold Mining Inc.
PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly-profitable long life gold mining company, becoming Canada’s next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically, and develop PureGold’s multi-million ounce high-grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.
Additional information about the Company and its activities may be found on the Company’s website at www.puregoldmining.ca and under the Company’s profile at www.sedar.com
For further information, see the technical report titled “Madsen Gold Project Technical Report Feasibility Study for the Madsen Deposit Red Lake, Ontario, Canada” with an effective date of February 5, 2019, and dated July 5, 2019 (the “Feasibility Study”), for further information please see www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com
Annual Report out : https://www.otcmarkets.com/stock/AVOZ/disclosure
Hmmmm ... Wassup ?
Stay safe >> M
And yet , the SP continues to tumble ... falling knife ?
Stay safe >> M
Solid trading plan .
My often used Kevlar gloves help to minimize the damage catching the knife .
I was able to catch some "Pure Gold" at .96 and .88 last couple of weeks , so I am happy now that gold has gone back up .
Well , this isn't what ya wanna see ... CDEL has joined the sellin' party .
Stay safe >> M
ALPS back again . Where is "he" getting these shares to sell so cheap ?
Stay safe >> M
ALPS appears to be gone but , what are we left with ?
This morning's trades were a head scratcher ....
Stay safe >> M
Four dolla holla ???
Stay safe >> M
INVENTUS PROVIDES EXPLORATION UPDATES AT PARDO AND SUDBURY 2.0 PROJECTS
https://static1.squarespace.com/static/56d987d21bbee076a4c0be7f/t/60ff5670494f032647dbd2d5/1627346553222/IVS_PR_Jul_26.pdf
This ALPS clown is being a real "you know what" ...
Stay safe >> M
Right ? They always seem to be lowest ask on many of my stocks .
After some buying at ask they show up lower just to get the trades .
CDEL is still being a drag ...
Stay safe >> m
It looks like they either don't know ( doubt it ) , OR simply don't care .
As usual .. F the shareholders .
Stay safe >> M
Well , no trades yet today . "Agenda" completed ???
So , must be "current" but not "limited" to keep the listing alive ?
Possible scenarios :
SMFX posts 1st QTR in time we are all set .
SMFX late , can't trade ... then filings are updated .. back to current .. all set again ... ?
I am sure that list doesn't auto update .
I am also SURE that SMFX is no longer in danger of being "halted" from trading .
Should they stop reporting , well then it would be of concern .
That only applies to companies that are stop sign or worse .
SMFX is providing financials , so they will be OK .
Remember it well . I was definitely a part of that "run" .
Stay safe >> M
This stock is such a "ball and chain" in my portfolio ...
When was the last time this had a bullish move up ?
Endless shares being sold it seems .
Stay safe >> M
I don't see ALPS ... yet ... oops , there he is ,,,
GREAT PANTHER ANNOUNCES HIGH-GRADE INTERCEPTS FROM TUCANO’S URUCUM NORTH DEPOSIT
https://ih.advfn.com/stock-market/AMEX/great-panther-mining-GPL/stock-news/85646191/great-panther-announces-high-grade-intercepts-from
https://www.otcmarkets.com/filing/html?id=15104401&guid=VTykkHa_RG4iQth#EX991_HTM
"Sammy" on sale ... apparently ...
Stay safe >> M
C'mon lil fella ...
Stay safe >> M
YW . Good luck in your trading ...
Stay safe >> M