Gevo (GEVO) – Another Quarterly Loss But Year of Progress

Posted on February 28, 2022 by Admin

Monday, February 28, 2022

Gevo (GEVO)
Another Quarterly Loss But Year of Progress

Gevo Inc is a renewable chemicals and biofuels company engaged in the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. Its operating segments are the Gevo segment and the Gevo Development/Agri-Energy segment. By its segments, it is involved in research and development activities related to the future production of isobutanol, including the development of its biocatalysts, the production and sale of biojet fuel, its Retrofit process and the next generation of chemicals and biofuels that will be based on its isobutanol technology. Gevo Development/Agri-Energy is the key revenue generating segment which involves the operation of the Luverne Facility and production of ethanol, isobutanol and related products.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

EBITDA losses continued in 4Q2021. Given the early stage of development of the renewable fuels concept, it isn’t surprising that EBITDA was negative $10.9 million due to limited revenue and continuing corporate/development costs. We expect negative EBITDA to continue into at least late next year. Gross losses of $4.3 million were slightly higher than $1.4 million last year due to operating expenses of $2.8 million, but total development and overhead costs dropped $4.4 million to $12.2 million.

Funding is visible into next year, but development goal of 1 BGPY by 2030 likely to require added capital. Given 4Q2021 cash of $476 million and the scheduled financial closing of Net Zero One in 1Q2023, we don’t believe that added capital is required right now. Current cash creates a funding fairway into late 2022/early 2023, and we expect the recently refreshed $500 million ATM program will not …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.

Release – Salem Podcast Network Announces New Podcast with Dennis Prager and Julie Hartman

Posted on February 28, 2022 by Admin

Salem Podcast Network Announces New Podcast with Dennis Prager and Julie Hartman

Research, News, and Market Data on Salem Media

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today that Salem Podcast Network is adding a new podcast with Dennis Prager and Julie Hartman. The new “Dennis and Julie” podcast will explore all of life — in particular, the crisis of American education.

Dennis Prager (Photo: Business Wire)

Julie Hartman is a senior at Harvard. At the age of 20, she sensed that most of her life she was exposed to one perspective. Searching for a non-left understanding of America, she found Dennis Prager’s book “Still the Best Hope,” his major work that explains both the left and America. As a result, she realized she actually held many conservative beliefs. Julie then reached out to Dennis, who was so impressed with her mind, heart, and eloquence, he invited her on to his national talk show. Not long after, she sat in for him for all three hours of the show, and probably becoming the youngest person to ever host a national talk show.

The two of them are starting a unique weekly podcast, “Dennis and Julie.” Dennis is already one of the most listened and viewed thinkers in America — and for that matter, the world. In addition to his Salem talk show, his Prager University website has a billion views a year. And Julie has already begun to garner a following of her own. Her Wall Street Journal column, “Harvard Students Are Covid Sheep,” became a national sensation.

“Dennis and Julie” launches March 1st on the Salem Podcast Network, delivering a new episode every week. “This is one of the most compelling stories I have heard. Julie Hartman realized she was a conservative while attending one of the most liberal colleges in the US,” said Phil Boyce, Salem’s Sr. VP of Spoken Word Formats. “She reached out to Dennis Prager, and the rest is history.”

“One of the many unique aspects of ‘Dennis and Julie’ is that it will attract people of all ages. Another is that it will be tremendously entertaining, as both Dennis and Julie combine wit with wisdom,” added Boyce.

“Finding Dennis’s work changed my life. I discovered the historic significance of the American value system and just how much our society today has come to be guided by the wrong principles. I hope that Dennis and I can make the world more understandable to our audience and impart to our listeners — especially those my age — how important it is to resist the far left push that comes at them every day. I’m honored to work with Dennis and I’m grateful to Salem for trusting me with this opportunity,” said Julie.

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com, Facebook and Twitter.

Evan D. Masyr
Executive Vice President and Chief
Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

Salem Podcast Network Announces New Podcast with Dennis Prager and Julie Hartman

Posted on February 28, 2022 by Admin

Salem Podcast Network Announces New Podcast with Dennis Prager and Julie Hartman

Research, News, and Market Data on Salem Media

Dennis Prager (Photo: Business Wire)

ABOUT SALEM MEDIA GROUP:

Evan D. Masyr
Executive Vice President and Chief
Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

The SPAC Advantage in a Volatile or Bear Market

Posted on February 28, 2022 by Admin



  Image Credit: Kampus (Pexels)

Why it May be Prudent in a Down-Market to Allocate to Individual SPACs

When the markets were roaring upwards in 2020 investment capital was abundant, the number of Special Purpose Acquisition Companies (SPACs) going public broke records. Competition to find ideal companies to merge with to fulfill the SPAC’s mission, intensified. Almost two years have passed since SPAC IPOs’ popularity emerged following a much quieter period for these equities. The 2020 vintage SPACs are now nearing their deadlines to find acquisitions or disseminate the money held in escrow back to shareholders. What does this mean to stock market investors?

Background

IPOs offered as SPACs in 2020 broke all previous records, in terms of the number of offerings, and gross proceeds. In 2021 there was even more issuance. SPACs are not new; they have existed for decades, they are sometimes referred to as blank check companies and shell companies. They have also been called “backdoor IPOs” because it allows a private company to go public without the normal process of filing and disclosures through the regular IPO filing process. Filing for an IPO with a SPAC is much quicker for private companies than going the traditional IPO route.

Currently, there are 602 SPACs with 162.4 billion in combined funds looking to find acquisitions. There are SPACs succeeding in finding acquisition targets, tickers like BOWL, DWAC, CPSR have recently either merged or are in a deSPAC phase, headed toward merging. But it is unlikely that there are 600 well-suited, private companies looking to go public via SPAC acquisition. This isn’t necessarily bad for the investors in the stock, if there is a downside it is to the finance entities that went through the expense and management of the SPAC for two years.

Investors lose little more than opportunity while their funds were tied up. This is because when a SPAC fails to merge, the funds from the IPO, less expenses, plus accrued interest, are then all returned to the current holder of shares.

Performance

So far this year SPACs have outperformed the market significantly. This may be because SPACs don’t have as much downside, as mentioned, the initial investment is held in an escrow account that typically earns interest. Should the SPAC not merge after 24 months, investors have a fairly good idea of what they can expect to be returned to them. They may not make money, but depending on their purchase price they shouldn’t lose much. The returned cash is most often just below the initial $10 offering price. This protection prevents the SPAC from decreasing in value greatly from its offering price, while still maintaining the potential to find a target that could drive the price significantly upward. The structure demonstrates a level of safety that is not shared by other common stocks.

There is an enhanced benefit to SPAC owners in 2022 that barely existed in 2020 and early 2021 when so many of the SPACs came to market, interest rates are now averaging 3% in the escrow accounts. This is up from when rates approximated 0% when the older SPACs came to market.

SPCX used in the chart above is an actively managed ETF comprised of SPAC IPOs. Using it as a proxy for the SPAC market and comparing its performance to the S&P 500 YTD, it’s clear that SPAC stocks are a diversifier in a portfolio – they trade off their own fundamentals. The very big risk-flattening mechanism is that they effectively have a price floor for each individual SPAC.

Portfolios looking to reduce downside risk yet maintain upside potential may want to allocate into well-selected individual SPACs. To do this some investors research by evaluating the market value of the issuance and comparing it to escrow trust account value balance. What they are looking for is pre-deal shell companies that are worth more than their market price. These situations where one pays less in cash than the cash the company holds is a strategy that is gaining popularity as all markets weaken.

Source: SPAC Research

Take-Away

Competition to find perfect merger candidates intensified to an extreme never before seen for SPACs as issuance rose from 59 deals in 2019, to 248 in 2020, and 613 in 2021. A failed SPAC (one that doesn’t find a target in 24 months) is unfortunate for the finance company issuer, but it is not necessarily bad for the stockholder. Stockholders have the option if the company finds a target, of opting out and collecting their pro-rata share of the trust or retaining the stock and owning the company it acquires. If there is no acquisition within the specified period, the stockholder is cashed out at their pro-rata share of the trust. There are stocks that are trading for less than their escrow value, some investors seek these out.

For updates on small and microcap stocks, including SPACS, sign-up to receive Channelchek daily research and information.

Paul Hoffman

Managing Editor, Channelchek

Suggested Reading

Investors Watch Media SPAC Stay in the Green as Markets Falter

Analysis of a SPAC

Merger of a SPAC, the De-SPAC Phase Explained

Lifecycle of a SPAC

Sources

https://www.spcxetf.com/the-fund/

https://www.spacresearch.com/

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Scheduled Speakers NobleCon18

Posted on February 28, 2022 by Admin

NobleCon18 Scheduled Speakers

Bert Alfonso – CFO Information Services (III)	Shone Anstey – CEO LQwD FinTech (LQWDF)	Robert Archer – CEO and Director Newrange Gold (NRGOF)	Douglas Bartole – President / CEO InPlay Oil (IPOOF)	Tom Bock – EVP Digital Media Solutions (DMS)
Michael Bondi – CFO Comtech (CMTL)	Michael Borton – CFO Flotek Industries (FTK)	Andrew Bowden – CEO Item 9 Labs (INLB)	David Bruce – CEO FGI Industries (FGI)	Brian Cantrell – SVP and CFO Alliance Resource Partners (ARLP)
Daniel Carcillo – CEO Wesana Health Holdings (WSNAF)	A.J. Cervantes Jr. – Chairman & Founder Smart for Life (SMFL)	Mark Chalmers – President & CEO Energy Fuels (UUUU)	Bradley Chhay – CFO RCI Hospitality Holdings (RICK)	Spencer Cole – EVP North America Vox Royalty (VOXCF)
Ryan Confer – CFO Genprex (GNPX)	Michael Connors – CEO Information Services (III)	Lisa Conte – CEO Jaguar Health (JAGX)	Robert Crane – CFO Axcella Therapeutics (AXLA)	Brian Culley – CEO , President & Director (New) Lineage Cell Therapeutics (LCTX)
Gianni Del Signore – CFO Pangaea Logistics (PANL)	Warren Duncan – CFO Filament Health (FLHLF)	Justin Dye – CEO Schwazze (SHWZ)	Paul Echt – CFO Media and Games Invest	Stephen Ehrlich – CEO Voyager Digital (VYGVF)
Mehran Ehsan – President & CEO Permex Petroleum (OILCF)	Brian Evans – CFO The GEO Group (GEO)	Michael Federle – CEO Forbes Global Media	Kyle Floyd – CEO Vox Royalty (VOXCF)	Scott Frohman – President Odyssey Wellness
Peter Gianulis – CEO Allegiant Gold (AUXXF)	John Gibson – CEO Flotek Industries (FTK)	Ryan Goepel – CFO Global Crossing Airlines (JETMF)	Ilan Hadar – CEO PainReform Ltd. (PRFX)	Arjan Haverhals – President & CEO Milestone Scientific (MLSS)
Wayne W. Heili – CEO Peninsula Energy (PENMF)	Gerri Henwood – President & CEO Baudax Bio (BXRX)	Matthew Hornor – President/CEO Maple Gold Mines (MGMLF)	Nancy Huber – CFO Schwazze (SHWZ)	Kathryn JohnBull – CFO DLH (DLHC)
Lauri Kearnes – CFO Harte Hanks (HHS)	John Keeler – CEO Blue Star Foods (BSFC)	David Kelley – CEO Chakana Copper (CHKKF)	Gust Kepler – CEO & Co-Founder Blackboxstocks (BLBX)	Giorgi Khazaradze – CEO Aurox
John Kiernan – CEO Alico (ALCO)	Rani Kohen – Executive Chairman SQL Technologies (SKYX)	Dmitry Kozko – CEO Motorsport Games (MSGM)	Sean Krakiwsky – President & CEO Nanalysis Scientific (NSCIF)	Eric Langan – CEO RCI Hospitality Holdings (RICK)
Seth Lederman, MD – Co-Founder, CEO & Chairman Tonix Pharmaceuticals (TNXP)	Arthur Levine – CFO EZFill (EZFL)	Evan Levine – CEO PsyBio Therapeutics (PSYBF)	Ben Lightburn – Co-Founder & CEO Filament Health (FLHLF)	Brian Linscott – CEO Harte Hanks (HHS)
Ken Londoner – CEO, Executive Chairman & Co-Founder BioSig Technologies (BSGM)	Frank Lopez-Balboa – CFO Cumulus Media (CMLS)	Paul Manley – VP Investor Relations Wrap Technologies (WRAP)	Joe Marinucci – CEO Digital Media Solutions (DMS)	Cary Marshall – VP, Corp Finance & Treasurer Alliance Resource Partners (ARLP)
James Martin – CFO & Corporate Secretary Cocrystal Pharma (COCP)	Evan Masyr – CFO Salem Media Group (SALM)	Leonard Mazur – Executive Chairman Citius Pharmaceuticals (CTXR)	Michael McConnell – CEO EZFill (EZFL)	John McGraw – President & CEO Izotropic Corporation (IZOZF)
Margot M. Micallef – Founder & CEO GABY (GABLF)	Bobby Mikkelsen – CFO Item 9 Labs (INLB)	Tim Millage – Current CFO Lee Enterprises (LEE)	Darren Minton – President Smart for Life (SMFL)	John Morrison – CFO One Stop Systems (OSS)
Kevin Mowbray – President / CEO / Director Lee Enterprises (LEE)	Shankar Musunuri, PhD – Founder, Chairman & CEO Ocugen (OCGN)	Nir Naor – CFO HMNC Brain Health	Jonathan New – CFO Motorsport Games (MSGM)	Matt Nicosia – CEO Vivakor (VIVK)
Robert Nistico – CEO Splash Beverage Group (SBEV)	Steve O’Laughlin – Principal Financial Officer Actinium Pharmaceuticals (ATNM)	George Palikaras – CEO Meta Materials Inc. (MMAT)	Christiana Papadopoulos – IR Mgr Sierra Metals (SMTS)	Zachary Parker – President and CEO DLH (DLHC)
Eric Pharis – COO Blackboxstocks (BLBX)	Michael Porcelain – CEO Comtech (CMTL)	Scott Powell – EVP Investor Relations VolitionRx (VNRX)	Evan Psaropoulos – CFO Voyager Digital (VYGVF)	Peter Quigley – President & CEO Kelly Services (KELYA)
Richard Rallo – CFO & Chief Accounting Officer Alico (ALCO)	Jeffrey I. Rassás – Chief Strategy Officer Item 9 Labs (INLB)	David Raun – CEO One Stop Systems (OSS)	Dave Rosa – CEO NeuroOne Medical Technologies (NMTC)	Stuart Rosenstein – CFO Townsquare Media (TSQ)
Christopher Ruddy – CEO Newsmax	Lena Russomagno – Associate Director of Operations Tonix Pharmaceuticals (TNXP)	Corey Ruttan – CEO Alvopetro Energy (ALVOF)	Shane Schaffer – CEO Cingulate (CING)	Lou Schwartz – CEO Engine Media and Gaming (GAME)
Tom Shannon – Founder & CEO Bowlero Corp. (BOWL)	Matt Singh – CCO Psyched Wellness (PSYCF)	Russell Skibsted – EVP, CFO & CBO Rockwell Medical (RMTI)	Arthur Smith – CEO Digerati Technologies (DTGI)	Jeremy Sobotta – President & CEO Perimeter Medical Imaging AI (PYNKF)
Jeff Stevens – CEO Psyched Wellness (PSYCF)	Sanjay Subramanian – CFO Ocugen (OCGN)	Dean Taylor – CEO Diamcor Mining (DMIFF)	Marie Tedesco – CFO Beasley Broadcast Group (BBGI)	Olivier Thirot – CFO Kelly Services (KELYA)
Suresh Venkatachari – Chairman & CEO Healthcare Triangle (HCTI)	Gary Vogel – CEO Eagle Bulk Shipping (EGLE)	William Willoughby – Director and CEO Cypress Development (CYDVF)	Bill Wilson – CEO Townsquare Media (TSQ)	Mark Wingertzahn – Chief Science Officer Wesana Health Holdings (WSNAF)
Robert Winspear – CFO Blackboxstocks (BLBX)	John Wobensmith – CEO Genco Shipping (GNK)	David Wolfin – President & CEO Avino Silver & Gold (ASM)	Zhenyu Wu – CFO Elite Education Group International (EEIQ)	Michael York – CFO Forbes Global Media
Chris Young – EVP, CFO & Treasurer Entravision Communications (EVC)	Apostolos Zafolias – CFO Genco Shipping (GNK)

Harte Hanks (HHS) – The Start Of A New Chapter

Posted on February 28, 2022 by Admin

Monday, February 28, 2022

Harte Hanks (HHS)
The Start Of A New Chapter

Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Revenue and cash flow beat. The company reported full year 2021 revenue of $194.6 million, compared with our estimate of $191.3 million, a solid 10% increase from the year earlier. Full year adj. EBITDA of $18 million beat our $17.1 million forecast by 5%, over 460% above the year earlier.

Customer Care still rolling. The Customer Care segment generated $19.2 million in revenue in Q4 compared with our upwardly revised estimate of $17.5 million. The segment’s robust quarter was driven by several new clients acquired during the period and continued Covid related, healthcare business …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

E.W. Scripps (SSP) – A Softer Than Expected Start

Posted on February 28, 2022 by Admin

Monday, February 28, 2022

E.W. Scripps (SSP)
A Softer Than Expected Start

The E.W. Scripps Co. (www.scripps.com) serves audiences and businesses through a growing portfolio of television, print and digital media brands. After approval of its acquisition of two Granite Broadcasting stations later this year, Scripps will own 21 local television stations as well as daily newspapers in 13 markets across the United States. It also runs an expanding collection of local and national digital journalism and information businesses including digital video news service Newsy. Scripps also produces television programming, runs an award-winning investigative reporting newsroom in Washington, D.C., and serves as the longtime steward of one of the nation’s largest, most successful and longest-running educational programs, Scripps National Spelling Bee. Founded in 1879, Scripps is focused on the stories of tomorrow.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Full-year results. The company reported total full-year 2021 revenue of $2.283 billion, modestly lower than our $2.29 billion estimate. The largest variance to our revenue estimate was in its Networks business. Full-year Adj. EBITDA was a strong $604.5 million, beating our $589 million adj. EBITDA estimate by 2.6%.

Political advertising expected to be strong. Management indicated that it expects Political advertising to be $270 million in 2022, above our current $256 million estimate. Given the very high margin, management anticipates full year 2022 free cash flow to be in the range of $400 million to $450 million, which is earmarked for debt reduction …

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Two Ways Artificial Intelligence is Helping Cybersecurity

Posted on February 28, 2022 by Admin



  Image Credit: Tara Winstead (Pexels)

How AI is Shaping the Cybersecurity Arms Race

The average business receives 10,000 alerts every day from the various software tools it uses to monitor for intruders, malware and other threats. Cybersecurity staff often find themselves inundated with data they need to sort through to manage their cyber defenses.

The stakes are high. Cyberattacks are increasing and affect thousands of organizations and millions of people in the U.S. alone.

These challenges underscore the need for better ways to stem the tide of cyber-breaches. Artificial intelligence is particularly well suited to finding patterns in huge amounts of data. As a researcher who studies AI and cybersecurity, I find that AI is emerging as a much-needed tool in the cybersecurity toolkit.

This article was republished with permission from
The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and thoughts of
Sagar Samtani, Assistant Professor of Operations and Decision Technologies, Indiana University.

Helping Humans

There are two main ways AI is bolstering cybersecurity. First, AI can help automate many tasks that a human analyst would often handle manually. These include automatically detecting unknown workstations, servers, code repositories and other hardware and software on a network. It can also determine how best to allocate security defenses. These are data-intensive tasks, and AI has the potential to sift through terabytes of data much more efficiently and effectively than a human could ever do.

Second, AI can help detect patterns within large quantities of data that human analysts can’t see. For example, AI could detect the key linguistic patterns of hackers posting emerging threats in the dark web and alert analysts.

More specifically, AI-enabled analytics can help discern the jargon and code words hackers develop to refer to their new tools, techniques and procedures. One example is using the name Mirai to mean botnet. Hackers developed the term to hide the botnet topic from law enforcement and cyberthreat intelligence professionals.

AI has already seen some early successes in cybersecurity. Increasingly, companies such as FireEye, Microsoft and Google are developing innovative AI approaches to detect malware, stymie phishing campaigns and monitor the spread of disinformation. One notable success is Microsoft’s Cyber Signals program that uses AI to analyze 24 trillion security signals, 40 nation-state groups and 140 hacker groups to produce cyberthreat intelligence for C-level executives.

Federal funding agencies such as the Department of Defense and the National Science Foundation recognize the potential of AI for cybersecurity and have invested tens of millions of dollars to develop advanced AI tools for extracting insights from data generated from the dark web and open-source software platforms such as GitHub, a global software development code repository where hackers, too, can share code.

Downsides of AI

Despite the significant benefits of AI for cybersecurity, cybersecurity professionals have questions and concerns about AI’s role. Companies might be thinking about replacing their human analysts with AI systems, but might be worried about how much they can trust automated systems. It’s also not clear whether and how the well-documented AI problems of bias, fairness, transparency and ethics will emerge in AI-based cybersecurity systems.

Also, AI is useful not only for cybersecurity professionals trying to turn the tide against cyberattacks, but also for malicious hackers. Attackers are using methods like reinforcement learning and generative adversarial networks, which generate new content or software based on limited examples, to produce new types of cyberattacks that can evade cyber defenses.

Just as AI can generate realistic-looking fake faces from photos of real people, the software can be used to create new forms of malware based on existing code.

Researchers and cybersecurity professionals are still learning all the ways malicious hackers are using AI.

The Road Ahead

Looking forward, there is significant room for growth for AI in cybersecurity. In particular, the predictions AI systems make based on the patterns they identify will help analysts respond to emerging threats. AI is an intriguing tool that could help stem the tide of cyberattacks and, with careful cultivation, could become a required tool for the next generation of cybersecurity professionals.

The current pace of innovation in AI, however, indicates that fully automated cyber battles between AI attackers and AI defenders is likely years away.

Suggested Reading

Zero-Trust Security: Assume Everyone and Everything on the Internet is Out to Get You

Edge Computing Importance to AI Applications

Robotics and AI Are Being Tapped by Cannabis Growers

The Various Ways to Allocate into “War Investments”

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Ocugen (OCGN) – Pipeline Progress Updated With Fourth Quarter Financial Report

Posted on February 28, 2022 by Admin

Monday, February 28, 2022

Ocugen (OCGN)
Pipeline Progress Updated With Fourth Quarter Financial Report

Ocugen Inc is a clinical stage biopharmaceutical company. It is focused on discovering, developing and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases. Ocugen offers a diversified ophthalmology portfolio that includes novel gene therapies, biologics, and small molecules and targets a broad range of high-need retinal and ocular surface diseases.

Robert LeBoyer, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Summary. Ocugen reported a net loss of $14.6 million or $(0.07) per share for 4Q21, bringing FY21 loss to $58.4 million or $(0.30) per share. The company also gave updates on recent developments for its development programs. Cash at December 31, 2021 was $95.1 million, excluding proceeds of an offering completed in late February 2022.

Covaxin Is Progressing Through FDA and Heath Canada. The FDA lifted the Clinical Hold on the IND application for the Phase 2/3 clinical trial, allowing the bridging study to continue. The Emergency Use Authorization (EUA) application submitted in November 2022 has been supplemented with safety data and studies showing neutralization of the Delta and Omicron variants …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Baudax Bio (BXRX) – Public Offering Announced Revising EPS and Price Target

Posted on February 28, 2022 by Admin

Monday, February 28, 2022

Baudax Bio (BXRX)
Public Offering Announced; Revising EPS and Price Target

Baudax Bio is a biopharmaceutical company focused on developing therapies for post-operative pain, peri-operative pain, and anesthesia. The company currently has one approved therapy in ANJESO for post-operative pain. Proprietary ANJESO (meloxicam) injection is the first and only once-daily IV analgesic. The company also has a pipeline of early-stage candidates with two novel neuromuscular blocking agents (NMBAs), a proprietary related reversal agent to their NMBAs, and Dex-IN, an intranasal formulation of dexmedetomidine (Dex) that has sedative, analgesic, and anti-anxiety properties.

Gregory Aurand, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Announced offering. Last Friday, Baudax Bio announced a $10 million public offering, composed of 3,508,772 shares of common stock sold together with 3,508,772 warrants allowing for the purchase of a common share at $3.25. The offering price of the stock and warrant unit is $2.85. The warrants will be exercisable immediately after the offering and expire in five years. The offering is expected to close on or about March 1, 2022.

Current market environment increases the share count. While the capital raise was anticipated, the market environment has been decidedly unforgiving. While we believe it is unwarranted, the stock price has declined roughly 70% from where it was prior to the announced split. With the stock price decline, a greater number of shares are required to support company needs. With the weakness, the issued …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Scheduled Speakers – NobleCon18

Posted on February 28, 2022 by Admin

NobleCon18 Confirmed Speakers

Bert Alfonso – CFO Information Services (III)	Robert Archer – CEO and Director Newrange Gold Corp. (NRGOF)	Douglas Bartole – President / CEO InPlay Oil (IPOOF)	Michael Bondi – CFO Comtech (CMTL)	Michael Borton – CFO Flotek Industries (FTK)
Andrew Bowden – CEO Item 9 Labs Corp. (INLB)	Brian Cantrell – SVP and CFO Alliance Resource Partners, L.P. (ARLP)	Daniel Carcillo – CEO Wesana Health Holdings Inc. (WSNAF)	John Carlesso – CEO FenixOro Gold Corp. (FDVXF)	Mark Chalmers – President & CEO Energy Fuels (UUUU)
Bradley Chhay – CFO RCI Hospitality Holdings, Inc. (RICK)	Michael Connors – CEO Information Services (III)	Lisa Conte – CEO Jaguar Health (JAGX)	Robert Crane – CFO Axcella Therapeutics (AXLA)	Gianni Del Signore – CFO Pangaea Logistics (PANL)
Warren Duncan – CFO Filament Health Corp. (FLHLF)	Justin Dye – CEO Schwazze (SHWZ)	Stephen Ehrlich – CEO Voyager Digital Ltd. (VYGVF)	Brian Evans – CFO The GEO Group, Inc. (GEO)	Peter Gianulis – CEO Allegiant Gold (AUXXF)
John Gibson – CEO Flotek Industries (FTK)	Ryan Goepel – CFO Global Crossing Airlines Inc. (JETMF)	Ilan Hadar – CEO PainReform Ltd. (PRFX)	Arjan Haverhals – President & CEO Milestone Scientific (MLSS)	Gerri Henwood – President & CEO Baudax Bio, Inc. (BXRX)
Nancy Huber – CFO Schwazze (SHWZ)	Kathryn JohnBull – CFO DLH (DLHC)	Lauri Kearnes – CFO Harte Hanks (HHS)	John Keeler – CEO Blue Star Foods Corp. (BSFC)	David Kelley – CEO Chakana Copper Corp (CHKKF)
Gust Kepler – CEO & Co-Founder Blackboxstocks Inc. (BLBX)	Giorgi Khazaradze – CEO Aurox	Eric Langan – CEO RCI Hospitality Holdings, Inc. (RICK)	Seth Lederman, MD – Co-Founder, CEO & Chairman Tonix Pharmaceuticals (TNPX)	Ben Lightburn – Co-Founder & CEO Filament Health Corp. (FLHLF)
Brian Linscott – CEO Harte Hanks (HHS)	Ken Londoner – CEO, Executive Chairman & Co-Founder BioSig Technologies (BSGM)	Paul Manley – VP Investor Relations Wrap Technologies, Inc. (WRAP)	Cary Marshall – VP, Corp Finance & Treasurer Alliance Resource Partners, L.P. (ARLP)	James Martin – CFO & Corporate Secretary Cocrystal Pharma Inc. (COCP)
Evan Masyr – CFO Salem Media Group (SALM)	Margot M. Micallef – Founder & CEO GABY Inc. (GABLF)	Tim Millage – CFO Lee Enterprises, Inc. (LEE)	Kevin Mowbray – President / CEO / Director Lee Enterprises, Inc. (LEE)	Shankar Musunuri, PhD – Founder, Chairman & CEO Ocugen (OCGN)
Nir Naor – CFO HMNC Holding GmbH	Chris Naprawa – President TAAL Distributed Information Technologies (TAALF)	Robert Nistico – CEO Splash Beverage Group, Inc. (SBEV)	Steve O’Laughlin – Principal Financial Officer Actinium Pharmaceuticals (ATNM)	Christiana Papadopoulos – IR Mgr Sierra Metals (SMTS)
Zachary Parker – President and CEO DLH (DLHC)	Eric Pharis – COO Blackboxstocks Inc. (BLBX)	Michael Porcelain – CEO Comtech (CMTL)	Scott Powell – EVP Investor Relations VolitionRx (VNRX)	Evan Psaropoulos – CFO Voyager Digital Ltd. (VYGVF)
Peter Quigley – President & CEO Kelly Services (KELYA)	Jeffrey I. Rassás – Chief Strategy Officer Item 9 Labs Corp. (INLB)	Dave Rosa – CEO Neuroone Medical Technologies Corp. (NMTC)	Stuart Rosenstein – CFO Townsquare Media (TSQ)	Lena Russomagno – Associate Director of Operations Tonix Pharmaceuticals (TNPX)
Corey Ruttan – CEO Alvopetro Energy (ALVOF)	David Santrella – President, Broadcast Media Salem Media Group (SALM)	Matt Singh – CCO Psyched Wellness Ltd. (PSYCF)	Russell Skibsted – EVP, CFO & CBO Rockwell Medical (RMTI)	Arthur Smith – CEO Digerati Technologies, Inc. (DTGI)
Jeff Stevens – CEO Psyched Wellness Ltd. (PSYCF)	Sanjay Subramanian – CFO Ocugen (OCGN)	Marie Tedesco – CFO Beasley Broadcast Group (BBGI)	Olivier Thirot – CFO Kelly Services (KELYA)	Suresh Venkatachari – Chairman & CEO Healthcare Triangle (HCTI)
William Willoughby – Director and CEO Cypress Development Corp. (CYDVF)	Bill Wilson – CEO Townsquare Media (TSQ)	Mark Wingertzahn – Chief Science Officer Wesana Health Holdings Inc. (WSNAF)	Robert Winspear – CFO Blackboxstocks Inc. (BLBX)	David Wolfin – President & CEO Avino Silver & Gold (ASM)
Zhenyu Wu – CFO Elite Education Group International Ltd. (EEIQ)	Chris Young – EVP, CFO & Treasurer Entravision Communications (EVC)

Baudax Bio (BXRX) – Public Offering Announced; Revising EPS and Price Target

Posted on February 28, 2022 by Admin

Monday, February 28, 2022

Baudax Bio (BXRX)
Public Offering Announced; Revising EPS and Price Target

Gregory Aurand, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Pros and Cons of a Company Like Berkshire Hathaway in your Portfolio

Posted on February 27, 2022 by Admin



  Image: BuffettNews.com

Berkshire Hathaway’s Annual Report Highlights Pros and Cons of Investing in a Giant

There were a few surprises in Warren Buffett’s annual letter to shareholders released Saturday, the least of these will probably garner a good deal of attention at the Berkshire Hathaway Shareholder Meeting. As announced by Mr. Buffett in the letter, “’Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.” Other, more critical but less fun surprises are covered below.

Impact of interest Rates on Berkshire

Berkshire’s balance sheet includes $144 billion of cash and cash equivalents. Of this sum, $120 billion is held in U.S. Treasury bills. US T-bills are structured to mature in one year or less. At least two things are worth noting from this. First, T-bills as of February 25^th are yielding from .03% in a one-month maturity, to 1.13% out a full year. Most expect the Fed to tighten during 2022, with some forecasters expecting as many as eight 25bp to 50bp (0.25% to 0.50%) increases each. If the Fed does tighten by only 25bp eight times it will likely serve to raise the T-bill curve levels up 2% or more. A 2% increase on the “risk free” rate would add $2.4 billion to Berkshires bottom line. In 2021 Berkshire Hathaway reported revenue of $90 billion. The interest rate hike would be meaningful to the companies earnings. The other interesting fact worth paying attention to is that the amount Berkshire Hathaway owns in U.S. Treasuries is equal to 0.50% of the publicly held national debt of the U.S. If Berkshire should go on a buying spree and not roll their maturing T-bills, this by itself could cause upward pressure on U.S. interest rates.

The CEO’s letter to shareholders made clear that, although they have committed to holding $30 billion in cash, they would prefer not to have as much excess cash available as they do. There is also a concern when looking to invest in public entities that interest rates that are low push the prices of all productive investments upward, whether these are stocks, real estate, farms, oil wells, etc.. Buffett writes, “Other factors influence valuations as well, but interest rates will always be important.”

Why Not Repurchase Shares?

Buffett explains there are three ways to increase investor value. First and most important is to increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Currently, internal opportunities deliver better returns than acquisitions. Berkshire’s resources are far greater than available opportunities. The second method is buying stock in good companies. While there are times when there are many attractive opportunities, Buffett writes, “Today, though, we find little that excites us.”

So, if Berkshire Hathaway is such a good investment, why not repurchase shares and allow the company to multiply its benefit to itself? In answering this question, Buffett says about share repurchase, “Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth.” During the past two years, Berkshire did repurchase 9% of their outstanding shares. Buffett says, “I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire.”

Take-Away

The success of Berkshire Hathaway and the “Oracle of Omaha” that remains at the helm are worth watching if you’re an investor at any level. In addition to the decades of success, there is another story of big versus small or even young versus old. It’s the story of a company too large to efficiently benefit from its success. While their decision-making capacity may be second to none, much of their massive “firepower” remains underutilized. This makes Berkshire Hathaway worth considering as a core long-term holding in much the same way one invests in a large balanced mutual fund focused on stable growth. Investors that seek companies with maximum efficiency and capital deployment with far more growth potential should consider allocating at least a portion of their investments to smaller well researched companies. The data and research within Channelchek focus exclusively on small and microcap companies that aren’t burdened by billions in underperforming assets. Sign-up for daily emails and access to top-tier research.

Paul Hoffman

Managing Editor, Channelchek

Suggested Reading

https://www.cnbc.com/2022/02/26/read-warren-buffetts-annual-letter-to-berkshire-hathaway-shareholders.html

https://www.forestriverinc.com/Our-Products/Pontoon-Boats

https://omaha.com/business/warren-watch-buffett-cousins-warren-and-jimmy-share-an-on-air-moment/article_40fec2ad-c1c3-5d12-9c1b-8b6319e73670.html

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Month: February 2022