Month: April 2022

Metals and Mining Industry Outlook – Noble Capital Markets Natural Resources Sector Review – Q1 2022

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Noble Capital Markets Metals and Mining Newsletter – Q1 2022


Source: Capital IQ as of 03/31/2022

Source: Capital IQ as of 03/31/2022; Company Filings

METALS AND MINING INDUSTRY OUTLOOK

Metals & Mining First Quarter 2022 Review and Outlook

Mining companies outperform broader market.

During the first quarter, mining companies (as measured by the XME) appreciated 36.9% compared to a loss of 4.9% for the S&P 500 index. The VanEck Vectors Gold Miners (GDX) and Junior Gold Miners (GDXJ) ETFs were up 19.7% and 11.8%, respectively. Gold, silver, copper, and zinc futures prices rose 6.5%, 7.5%, 6.7%, and 20.9%, respectively, while lead was down 0.3%. The war in Ukraine has constrained supplies of commodities, everything from fertilizer, grain, oil, natural gas, and metals, and magnified inflationary trends. How long this will continue is uncertain.

Outlook for precious metals.

The U.S. Dollar Index rose 2.4% during the first quarter, while the yield on a 10-year treasury note rose to 2.33% from 1.51% at year-end 2020. With the U.S. Federal Reserve signaling more aggressive action to combat inflation, further gains for gold may be challenged for the remainder of the year in the face of higher rates and a stronger dollar. However, with consumer and core inflation at 7.9% and 6.4% through February, respectively, real interest rates remain negative and enhance gold’s appeal as a store of value. Moreover, precious metals may be viewed as insurance against expected market volatility and economic uncertainty.

Risk of slowing economic growth may impact industrial metals.

With the Federal Reserve behind the curve on inflation and an unanticipated war stressing commodity markets, choking back demand and growth may be an obvious choice to combat inflation and supply shortages. A key worry is the risk of recession in the U.S. and abroad versus a softer landing. However, improving supply chains, inventory re-stocking, and greater capital spending could be supportive of pricing, and we believe the long-term investment case for owning industrial metals mining companies remains favorable. However, industrial metals may also be challenged to post further gains into the latter part of the year.

Putting it all together.

While much uncertainty remains, including the trajectory of the war in Ukraine, the U.S. Federal Reserve will likely achieve its goal of tamping down inflation. Despite a cautious near-term outlook, precious and industrial metals prices could hold up relatively well despite near-term headwinds. As a means of portfolio diversification, exposure to the mining sector is beneficial and investors may want to consider junior mining companies due to more attractive valuations relative to larger cap peers and the potential for increased M&A and industry consolidation.

Source: Capital IQ as of 03/31/2022

Gold Mining – Comparable Tables 

Source: Capital IQ as of 03/31/2022

Gold Mining – LTM Equity Performance 

Source: Capital IQ as of 03/31/2022

Silver Mining – Comparable Tables 

Source: Capital IQ as of 03/31/2022

Silver Mining – LTM Equity Performance 

Source: Capital IQ as of 03/31/2022

Gold & Silver – LTM Global M&A Activity 

Source: Capital IQ as of 03/31/2022

Diversified Mining – Comparable Tables 

Source: Capital IQ as of 03/31/2022

Diversified Mining – LTM Equity Performance 

Source: Capital IQ as of 03/31/2022

Diversified Mining – LTM Global M&A Activity 

Source: Capital IQ as of 03/31/2022

LTM Mining Industry M&A Summary 

Source: Capital IQ as of 03/31/2022

NOBLE QUARTERLY HIGHLIGHTS

Cypress Development Corp. (TSXV:CYP, OCTQB:CYDVF)

Industry: Metals and Mining – Diversified Metals and Mining

Cypress Development Corp. is a Canadian based advanced stage lithium exploration company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America’s only lithium brine operation. Cypress is advancing its Clayton Valley Lithium Project in Nevada towards the production of high-purity lithium hydroxide suitable for tier one battery usage.

1st Quarter News Highlight:

February 4, 2022: Cypress Development Completes Over-Subscribed $18.1 million bought deal financing. Pursuant to the Offering, the Company issued a total of 9,058,000 units of the Company (“Units”) at a price of $2.00 per Unit and 142,000 Warrants (as defined below) at a price of $0.1598 per Warrant, for aggregate gross proceeds of $18,138,720. Each Warrant entitles the holder to acquire one common share of the Company at a price of $2.65 with a Warrant expiry date of February 4, 2024. The net proceeds from the Offering are expected to be used by the Company to fund ongoing work, development and permitting activities at its Clayton Valley Lithium Project in Nevada and for working capital and general corporate purposes.

Maple Gold Mines Ltd. (TSXV:MGM, OCTQB:MGMLF)

Industry: Metals and Mining – Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Quebec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel.

1st Quarter News Highlight:

March 17, 2022: The Company reported a substantial resource increase in the Douay property after an updated Mineral Resource Estimate performed during the first quarter. Indicated resources increased by 21% to 511,000 OZ AU, and inferred resources increased by 7% to 2,525,000 OZ AU. Matthew Hornor – President and CEO – commented: “Looking ahead, the Company is targeting larger step-out and deeper drilling along the full extent of the Douay resource area.”

Allegiant Gold Ltd. (OTCQX:AUXXF)

Industry: Metals and Mining – Gold

Allegiant owns 100% of ten highly-prospective gold projects in the United States, seven of which are in the mining-friendly jurisdiction of Nevada. Three of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is in an area of excellent infrastructure.

1st Quarter News Highlight:

March 17. 2022: The company announced the completion of its previously announced $4,014,414 financing and strategic investment by Kinross Gold Corporation for the exploration and development of the Eastside property in Nevada. As a result, Kinross now owns 9.9% of the issued and outstanding shares of Allegiant. The strategic investment by Kinross calls for the formation of a four-person Technical Advisory Committee comprised of two members from each company. The Technical Advisory Committee will provide advice and guidance on the upcoming core-drilling program at the HGZ within the Original Pit Zone at Eastside.

Source: Company Press Releases

DOWNLOAD THE FULL REPORT (PDF)

Noble Capital Markets Metals & Mining Newsletter Q1 2022

This newsletter was prepared and provided by Noble Capital Markets, Inc. For any questions and/or requests regarding this newsletter, please contact >Francisco Penafiel

DISCLAIMER

All statements or opinions contained herein that include the words “ we”,“ or “ are solely the responsibility of NOBLE Capital Markets, Inc and do not necessarily reflect statements or opinions expressed by any person or party affiliated with companies mentioned in this report Any opinions expressed herein are subject to change without notice All information provided herein is based on public and non public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on their own appraisal of the implications and risks of such decision This publication is intended for information purposes only and shall not constitute an offer to buy/ sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice Past performance is not indicative of future results.

Please refer to the above PDF for a complete list of disclaimers pertaining to this newsletter

Motorsport Games (MSGM) – Rating Upgrade Based On Price Considerations

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Tuesday, April 26, 2022

Motorsport Games (MSGM)
Rating Upgrade Based On Price Considerations

Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), across PC, PlayStation, Xbox, Nintendo Switch and mobile. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. The company’s IPO was in January 2021, and it is headquartered in Miami, FL. For more information about Motorsport Games, visit www.motorsportgames.com.

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

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

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

    NobleCon18 highlights. Dmitry Kozko, CEO, provided an optimistic tone as the company navigates the disappointing performance of NASCAR Ignition launch and prepares for the launch of several game franchises over the next year. He appeared to be sanguine about the firm’s capability to rebound given a favorable long-term, 10-year runway for its licenses. A replay of his presentation may be found here.

    Roadmap still on track.  The company plans to release new franchises in 2023 such as NASCAR (new mobile title), 24 Hours of Le Mans ’23, and INDYCAR ’23. Given disruptions to the company’s Moscow development team due to Russian sanctions, the timeline is favorable and appears to be on track …

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. 

 

Cumulus Media (CMLS) – Undervalued In Spite Of The Recent Move

Posted on by Admin

Tuesday, April 26, 2022

Cumulus Media (CMLS)
Undervalued In Spite Of The Recent Move

CUMULUS MEDIA, Inc. (NASDAQ: CMLS) is a leading audio-first media and entertainment company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. CUMULUS MEDIA engages listeners with high-quality local programming through 428 owned-and-operated stations across 87 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYS, the American Country Music Awards, and many other world-class partners across nearly 8,000 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. CUMULUS MEDIA provides advertisers with local impact and national reach through on-air, digital, mobile, and voice-activated media solutions, as well as access to integrated digital marketing services, powerful influencers, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees.

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

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

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

    NobleCon 18 highlights Frank Lopez-Balboa, CFO, and Collin Jones, Corporate Development, held a fireside chat and outlined its operational and debt reduction strategy. In addition, management highlighted an improved financial profile given a rebounding advertising environment. A replay of the company’s presentation may be found here.

    Recovery at full speed.  Management declared that advertising is recovering beyond pre-pandemic levels, thanks to emerging categories such as sports betting and crypto currencies, as well as a strong comeback in entertainment and finance ad categories. These trends offset auto, which is not expected to be rebound now until 2023. Additionally, in 2022, political revenue is expected to surpass the …

This 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. 

 

Lee Enterprises, Inc. (LEE) – Digital To Drive Swing Toward Revenue Growth

Posted on by Admin

Tuesday, April 26, 2022

Lee Enterprises, Inc. (LEE)
Digital To Drive Swing Toward Revenue Growth

Lee Enterprises Inc is a local news publication company in the United States. Its products include daily and Sunday newspapers, weekly newspapers and classified and few other specialty publications. Its products are used as a platform for advertising in mid-size markets. Revenues are generated primarily from retail and classifieds advertising and the remaining from subscriptions to its printed and digital products.

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

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

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

    Noblecon 18 highlights. Kevin Mowbray, CEO, and Tim Millage, CFO highlighted its leading digital products and services. It is differentiated from its peers with industry leading digital subscription growth, strong digital advertising revenue from its digital agency business and compelling digital reach, with 47 million unique visitors each month. To watch a full replay of the presentation, please click here.

    Local focus driving subscriptions.  Management highlighted the company’s fast growing local market-focused digital subscription business. Lee’s digital subscription growth has outpaced Gannett and the New York Times for the last 9 quarters running. Lee already serves 450,000 digital-only subscribers, a 57% increase on a year-over-year basis …

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 – Travelzoo Reports First Quarter 2022 Results

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Travelzoo Reports First Quarter 2022 Results

Research, News, and Market Data on Travelzoo

 

Travelzoo® (NASDAQ: TZOO):

  • Consolidated revenue of 
    $18.5 million, up 29% year-over-year
  • Non-GAAP consolidated operating profit of 
    $2.7 million
  • Earnings per share (EPS) of 
    $0.19 attributable to 
    Travelzoo from continuing operations

Travelzoo, a global Internet media company that provides exclusive offers and experiences for members, today announced financial results for the first quarter ended 
March 31, 2022. Consolidated revenue was 
$18.5 million, up 29% from 
$14.3 million year-over-year. 
Travelzoo’s reported revenue consists of advertising revenues and commissions, derived from and generated in connection with purchases made by 
Travelzoo members.

The reported net income attributable to 
Travelzoo from continuing operations was 
$2.4 million for Q1 2022. At the consolidated level, including minority interests, the reported net income from continuing operations was 
$2.4 million. EPS from continuing operations was 
$0.19, compared to (
$0.14) in the prior-year period.

Non-GAAP operating profit was 
$2.7 million. The calculation of non-GAAP operating profit excludes amortization of intangibles (
$0.2 million) and stock option expenses (
$0.5 million). See section “Non-GAAP Financial Measures” below.

“We see continued improvement in our business. We seize the exceptional industry opportunities for providing 30 million 
Travelzoo members exclusive and irresistible travel, entertainment, and local offers and experiences. 
Travelzoo members are affluent, active, and open to new experiences. 84% say 
Travelzoo influences their travel destinations because they trust 
Travelzoo“, said  Holger Bartel, Global CEO.

Cash Position
As of 
March 31, 2022, consolidated cash, cash equivalents and restricted cash were 
$36.7 million. Net cash used in operations was 
$6.8 million. Cash was used primarily in connection with a decrease of merchant payables by 
$8.0 million. The Company also used cash of 
$1.0 million to acquire intangible assets in Q1 2022.

Reserve
Reported revenues include a reserve of 
$3.8 million related to commissions to be earned from vouchers sold. The reserve is booked as contra revenue.

Travelzoo North America

North America business segment revenue increased 19% year-over-year to 
$11.7 million. Operating profit for Q1 2022 was 
$1.7 million, or 15% of revenue, compared to an operating profit of 
$39,000 in the prior-year period.

Travelzoo Europe

Europe business segment revenue increased 66% year-over-year to 
$5.9 million. Operating profit for Q1 2022 was 
$178,000, or 3% of revenue, compared to an operating loss of 
$696,000 in the prior-year period.

Jack’s Flight Club
On 
January 13, 2020, 
Travelzoo acquired 60% of 
Jack’s Flight Club, a membership subscription service. 
Jack’s Flight Club revenue decreased 7% year-over-year to 
$823,000. Non-GAAP operating profit for Q1 2022 was 
$249,000, compared to a non-GAAP operating profit of 
$174,000 in the prior-year period. After consolidation with 
Travelzoo, 
Jack’s Flight Club’s net income was 
$11,000, with 
$7,000 attributable to 
Travelzoo as a result of recording 
$226,000 of amortization of intangible assets related to the acquisition.

Licensing
In 
June 2020, 
Travelzoo entered into a royalty-bearing licensing agreement with a local licensee in 
Japan for the exclusive use of 
Travelzoo’s brand, business model, and members in 
Japan. In August of 2020, 
Travelzoo entered into a royalty-bearing licensing agreement with a local licensee in 
Australia for the exclusive use of 
Travelzoo’s brand, business models, and members in 
Australia, 
New Zealand, and 
Singapore. Under these arrangements, 
Travelzoo’s existing members in 
Australia, 
Japan, 
New Zealand, and 
Singapore will continue to be owned by 
Travelzoo as the licensor. Licensing revenue is booked with a lag of one quarter. 
Travelzoo recorded 
$9,000 in licensing revenue from the licensee in 
Japan in Q1 2021. 
Travelzoo recorded 
$7,000 in licensing revenue from the licensee in 
Australia, 
New Zealand, and 
Singapore in Q1 2022. Licensing revenue is expected to increase going forward.

Members and Subscribers
As of 
March 31, 2022, we had 30.7 million members worldwide. In 
North America, the unduplicated number of 
Travelzoo members was 16.7 million as of 
March 31, 2022, down 8% from 
March 31, 2021. In 
Europe, the unduplicated number of 
Travelzoo members was 9.1 million as of 
March 31, 2022, up 5% from 
March 31, 2021. 
Jack’s Flight Club had 1.7 million subscribers as of 
March 31, 2022, up 6% from 
March 31, 2021.

Discontinued Operations
As announced in a press release on 
March 10, 2020, 
Travelzoo decided to exit its 
Asia Pacific business and operate it as a licensing business going forward. Consequently, the 
Asia Pacific business has been classified as discontinued operations since 
March 31, 2020. Prior periods have been reclassified to conform with the current presentation. Certain reclassifications have been made for current and prior periods between the continued operations and the discontinued operations in accordance with 
U.S. GAAP.

Income Taxes
Income tax expense was 
$968,000 in Q1 2022, compared to an income tax expense of 
$742,000 in the prior-year period.

Non-GAAP Financial Measures
Management calculates non-GAAP operating income when evaluating the financial performance of the business. 
Travelzoo’s calculation of non-GAAP operating income, also called “non-GAAP operating profit” in this press release and today’s earnings conference call, excludes the following items: impairment of intangibles and goodwill, amortization of intangibles, stock option expenses, and severance- related expenses. This press release includes a table which reconciles GAAP operating income to the calculation of non-GAAP operating income. Non-GAAP operating income is not required by, or presented in accordance with, generally accepted accounting principles in 
the United States of America (“GAAP”). This information should be considered as supplemental in nature and should not be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures reported by other companies.

Looking Ahead
We currently expect higher revenue and profitability in Q2 2022. We continue to see a trend of recovery of our revenue. However, there could be unexpected fluctuations in the short term. During the pandemic, we have been able to lower our fixed costs. We believe we can keep our fixed costs relatively low in the foreseeable future—while revenue is expected to grow.

Conference Call

Travelzoo will host a conference call to discuss first quarter results and provide an update on Travelzoo META today at 
11:00 a.m. ET. Please visit http://ir.travelzoo.com/events-presentations to

  • download the management presentation (PDF format) to be discussed in the conference call; and
  • access the webcast.

About Travelzoo
Travelzoo® provides its 30 million members with exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give 
Travelzoo members access to irresistible deals.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the 
SEC. We cannot guarantee any future levels of activity, performance or achievements. 
Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Travelzoo, Top 20, and 
Jack’s Flight Club are registered trademarks of 
Travelzoo.

 

Travelzoo

Condensed Consolidated Statements of Operations

(Unaudited)

(In thousands, except per share amounts)
   
 

Three months ended
March 31
 

2022

  

2021

Revenues

$                 18,453

  

$                 14,284

Cost of revenues

2,832

  

3,018

          Gross profit

15,621

  

11,266

Operating expenses:

      

     Sales and marketing

8,581

  

6,790

     Product development

453

  

683

     General and administrative

4,668

  

4,560

          Total operating expenses

13,702

  

12,033

Operating income (loss)

1,919

  

(767)

Other income (loss), net

1,423

  

(166)

Income (loss) from continuing operations before income taxes

3,342

  

(933)

Income tax expense

968

  

742

Income (loss) from continuing operations

2,374

  

(1,675)

Loss from discontinued operations, net of tax

(11)

  

(15)

Net income (loss)

2,363

  

(1,690)

Net income (loss) attributable to non-controlling interest

4

  

(48)

Net income (loss) attributable to Travelzoo

$                  2,359

  

$                 (1,642)
       

Net income (loss) attributable to Travelzoo—continuing operations

$                  2,370

  

$                  (1,627)

Net loss attributable to Travelzoo—discontinued operations

$                     (11)

  

$                      (15)
       

Income (loss) per share—basic

      

     Continuing operations

$                     0.20

  

$                   (0.14)

     Discontinued operations

$                        —

  

$                         —

Net income (loss) per share —basic

$                     0.20

  

$                   (0.14)
       

Income (loss) per share—diluted

      

     Continuing operations

$                     0.19

  

$                    (0.14)

     Discontinued operations

$                        —

  

$                         —

Net income (loss) per share—diluted

$                     0.19

  

$                    (0.14)

Shares used in per share calculation from continuing operations—
basic

12,056

  

11,391

Shares used in per share calculation from discontinued operations—
basic

12,056

  

11,391

Shares used in per share calculation from continuing operations—
diluted

12,544

  

11,391

Shares used in per share calculation from discontinued operations—
diluted

12,056

  

11,391

 

Travelzoo

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)
       
 

March 31,
2022

  

December 31,
2021

Assets

      

     Current assets:

      

          Cash and cash equivalents

$             35,617

  

$            43,815

          Accounts receivable, net

18,163

  

14,871

          Prepaid income taxes

2,547

  

3,325

          Prepaid expenses and other

1,513

  

1,891

          Prepaid expenses—related party

—

  

1,150

          Assets from discontinued operations

63

  

71

               Total current assets

57,903

  

65,123

          Deposits and other

6,588

  

6,784

          Deferred tax assets

3,887

  

3,949

          Restricted cash

1,121

  

1,142

          Operating lease right-of-use assets

6,679

  

7,700

          Property and equipment, net

572

  

659

          Intangible assets, net

5,189

  

3,426

          Goodwill

10,944

  

10,944

               Total assets

$             92,883

  

$            99,727

Liabilities and Stockholders’ Deficit

      

     Current liabilities:

      

          Accounts payable

$               3,453

  

$              3,411

          Merchant payables

60,479

  

68,678

          Accrued expenses and other

9,171

  

10,212

          Deferred revenue

2,317

  

1,733

          Operating lease liabilities

2,813

  

3,180

          Income tax payable

30

  

185

          Liabilities from discontinued operations

488

  

485

               Total current liabilities

78,751

  

87,884

          Long-term operating lease liabilities

8,617

  

9,111

          Other long-term liabilities

2,380

  

2,364

               Total liabilities

89,748

  

99,359

          Non-controlling interest

4,604

  

4,600

          Common stock

126

  

126

          Treasury stock (at cost)

(5,488)

  

(5,488)

          Additional paid-in capital

4,957

  

4,415

          Retained earnings

2,866

  

508

          Accumulated other comprehensive loss

(3,930)

  

(3,793)

               Total stockholders’ deficit

(1,469)

  

(4,232)

               Total liabilities and stockholders’ deficit

$             92,883

  

$            99,727

 

Travelzoo

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(In thousands)
   
 

Three months ended
March 31
 

2022

  

2021

Cash flows from operating activities:

      

Net income (loss)

$              2,363

  

$            (1,690)

Adjustments to reconcile net income (loss) to net cash provided by (used
in) operating activities:

      

     Depreciation and amortization

574

  

484

     Stock-based compensation

541

  

882

     Deferred income tax

97

  

541

     Loss on long-lived assets

38

  

—

     Gain on sale of equity investment in WeGo

(196)

  

—

     Net foreign currency effects

(13)

  

(152)

     Reversal of reserves on accounts receivable and other reserves

(1,408)

  

(454)

     Changes in operating assets and liabilities:

      

          Accounts receivable

(3,163)

  

(2,229)

          Income tax receivable

759

  

(545)

          Prepaid expenses and other

565

  

(2,357)

          Accounts payable

103

  

1,727

          Merchant payables

(7,961)

  

13,212

          Accrued expenses and other

917

  

(641)

          Income tax payable

(157)

  

(126)

          Other liabilities

(244)

  

412

Net cash provided by (used in) operating activities

(6,764)

  

9,064

Cash flows from investing activities:

      

     Purchases of intangible assets

(1,049)

  

—

     Proceeds from sale of equity investment in WeGo

196

  

—

     Purchases of property and equipment

(89)

  

(7)

Net cash used in investing activities

(942)

  

(7)

Cash flows from financing activities:

      

     Repurchase of common stock

—

  

(1,583)

Net cash used in financing activities

—

  

(1,583)

Effect of exchange rate on cash, cash equivalents and restricted cash

(524)

  

270

Net increase (decrease) in cash, cash equivalents and restricted cash

(8,230)

  

7,744

Cash, cash equivalents and restricted cash at beginning of period

44,989

  

64,385

Cash, cash equivalents and restricted cash at end of period

$            36,759

  

$            72,129

 

Travelzoo 

Segment Information from Continuing Operations 

(Unaudited) 

(In thousands) 
                   

Three months ended
March 31, 2022

Travelzoo North

America

  

Travelzoo Europe

  

Jack’s Flight Club

  

Elimination

  

Consolidated

Revenue from unaffiliated
customers

$          11,503

  

$           6,127

  

$              823

  

$               —

  

$           18,453

Intersegment revenue

193

  

(193)

  

—

  

—

  

—

Total net revenues

11,696

  

5,934

  

823

  

—

  

18,453

Operating income

$            1,718

  

$              178

  

$                23

  

$               —

  

$             1,919
                   

Three months ended
March 31, 2021

Travelzoo North

America

  

Travelzoo Europe

  

Jack’s Flight Club

  

Elimination

  

Consolidated

Revenue from unaffiliated
customers

$            9,828

  

$           3,569

  

$              887

  

$               —

  

$           14,284

Intersegment revenue

(9)

  

9

  

—

  

—

  

—

Total net revenues

9,819

  

3,578

  

887

  

—

  

14,284

Operating income (loss)

$                 39

  

$            (696)

  

$            (110)

  

$               —

  

$               (767)

 

Travelzoo

Reconciliation of GAAP to Non-GAAP Information

(Unaudited)

(In thousands, except per share amounts)
   
 

Three months ended
March 31
 

2022

  

2021

GAAP operating expense

$             13,702

  

$             12,033

Non-GAAP adjustments:

      

     Impairment of intangible and goodwill (A)

—

  

—

     Amortization of intangibles (B)

226

  

284

     Stock option expenses (C)

541

  

882

     Severance-related expenses (D)

13

  

223

Non-GAAP operating expense

12,922

  

10,644
       

GAAP operating income (loss)

1,919

  

(767)

Non-GAAP adjustments (A through D)

780

  

1,389

Non-GAAP operating income

2,699

  

622

 

Investor Relations:
Almira Pusch
ir@travelzoo.com 

The GEO Group Inc. (GEO) – NobleCon 18 Presentation Notes

Posted on by Admin

Tuesday, April 26, 2022

The GEO Group, Inc. (GEO)
NobleCon 18 Presentation Notes

With over 94,000 beds owned, leased or managed across its business lines and serving over 260,000 people daily, GEO is a leading provider of mission critical real estate to its governmental partners. The Company is the first fully integrated equity REIT specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the U.S., Australia, South Africa, and the U.K.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

    NobleCon 18. GEO CFO Brian Evans presented at NobleCon 18. The Company highlighted its leading market position, dependable cash flows, and potential market opportunity.

    Title 42.  Government officials continue to give credence to a projected massive surge once Title 42 is lifted. Most recently, ICE said it is expecting a “historic” surge in migration at the border. In an April 8th court filing, the agency stated, “ICE is preparing to…respond to an historic border surge, with projections forecasted to triple current arrivals.” …

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. 

 

Lineage Cell Therapeutics (LCTX) – New Program Added To The Development Pipeline

Posted on by Admin

Tuesday, April 26, 2022

Lineage Cell Therapeutics (LCTX)
New Program Added To The Development Pipeline

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel cell therapies for unmet medical needs. Lineage’s programs are based on its robust proprietary cell-based therapy platform and associated in-house development and manufacturing capabilities. With this platform Lineage develops and manufactures specialized, terminally differentiated human cells from its pluripotent and progenitor cell starting materials. These differentiated cells are developed to either replace or support cells that are dysfunctional or absent due to degenerative disease or traumatic injury or administered as a means of helping the body mount an effective immune response to cancer. Lineage’s clinical programs are in markets with billion dollar opportunities and include three allogeneic (“off-the-shelf”) product candidates: (i) OpRegen®, a retinal pigment epithelium transplant therapy in Phase 1/2a development for the treatment of dry age-related macular degeneration, a leading cause of blindness in the developed world; (ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a development for the treatment of acute spinal cord injuries; and (iii) VAC, an allogeneic dendritic cell therapy platform for immuno-oncology and infectious disease, currently in clinical development for the treatment of non-small cell lung cancer. For more information, please visit www.lineagecell.com or follow the Company on Twitter @LineageCell.

Robert LeBoyer, Vice President, Research Analyst, Life Sciences, Noble Capital Markets, Inc.

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

    Photoreceptor Development Program Announced.  Lineage Cell announced a new program to develop photoreceptor cells for transplantation. This is an additional application of Lineage’s proprietary cell-based technology for growing pluripotent cells into differentiated cells that can be transplanted to repair areas where cells have been lost to disease. The new program will develop cell transplants for the rod and cone photoreceptor cells in the eye.

    Photoreceptor Program Fits With OpRegen.  Lineage Cell’s most advanced product is OpRegen, a retinal pigmented epithelial (RPE) cell transplant therapy for age-related macular degeneration (dry AMD). The new photoreceptor program will develop cells to repair a different type of cell in the retina. The photoreceptor cell transplants have potential to address conditions such as retinitis pigmentosa …

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. 

 

Aurania Resources (AUIAF)(ARU:CA) – Exploration Focuses on Three Main Target Areas

Posted on by Admin

Tuesday, April 26, 2022

Aurania Resources (AUIAF)(ARU:CA)
Exploration Focuses on Three Main Target Areas

As of April 24, 2020, Noble Capital Markets research on Aurania Resources is published under ticker symbols (AUIAF and ARU:CA). The price target is in USD and based on ticker symbol AUIAF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

    Focused exploration strategy. Following an internal review of its projects, target types, and funding strategies, Aurania announced in February that it would focus its resources on the exploration of its core mineral concessions in Ecuador, including epithermal gold and porphyry copper targets. The company is exploring joint ventures and partnerships to advance non-core mineral concessions that include sediment-hosted copper-silver and carbonate replacement silver-zinc-lead targets.

    Priorities in 2022.  Exploration will support the refinement of drilling plans for the Awacha porphyry copper target, and Kuri-Yawi B1 and Kuripan epithermal gold-silver targets. We anticipate drilling could begin at Awacha in the first quarter of next year. Recall that an access agreement was signed with the communities around the Awacha porphyry copper target area in January. Geophysics work has …

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. 

 

PTSD MDMA and Psilocybin

Posted on by Admin 


Image Credit: Peter Murphy (Flickr)


Latest Trials Confirm the Benefits of MDMA – the Drug in Ecstasy – for Treating PTSD

 

For people with post-traumatic stress disorder, recalling memories of physical or sexual assault, combat or disaster-related events can induce intense anxiety or panic attacks as well as debilitating flashbacks.

In the U.S., about 7% of people suffer from PTSD and lose an average of about four working days each month as a result. Trauma-specific psychotherapy, like cognitive processing or “talk” therapy, is the cornerstone of treatment for PTSD. But for approximately half of people, these traditional approaches are ineffective at fully addressing PTSD symptoms over the long term. Antidepressant drugs are frequently used if psychotherapy fails, or in combination with it, but the effects are usually modest.

MDMA (3,4-methylenedioxymethamphetamine) is an active ingredient in the illicit street drug known as ecstasy or molly. People in dance clubs and raves use illicit MDMA because it elevates mood and energy levels, induces a feeling of bonding with others and produces a surreal psychedelic effect. These same effects have been hypothesized to support people with PTSD during psychotherapy sessions, since they can make people more willing and able to share and explore their traumatic experiences. Our new meta-analysis of clinical trials confirms the benefits of MDMA-assisted psychotherapy in the treatment of PTSD.

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It was written by and represents the research-based opinions of C. Michael White, Distinguished Professor and Head of the Department of Pharmacy Practice, University of Connecticut. Adrian V. Hernandez, Associate Professor of Comparative Effectiveness and Outcomes Research, University of Connecticut.

 

We are a pharmacist and physician team who investigate the benefits and harms associated with substances of abuse like bath salts, phenibut, cannabis and synthetic marijuana. Through this work we have become intrigued about the therapeutic potential for some psychedelic drugs in the treatment of myriad psychiatric disorders, from PTSD to major depression, especially MDMA and psilocybin (hallucinogenic mushrooms).

It is important to state that using ecstasy or molly products from the street would not help PTSD symptoms because the MDMA needs be used along with carefully crafted psychotherapy in a safe, controlled environment. Ecstasy or molly products purchased illicitly never specify the exact amount of MDMA they contain, so it is impossible to dose it properly for PTSD. Taking too much MDMA or exercising while taking MDMA can cause heart attacks, strokes, seizures and arrhythmias and can damage muscles and kidneys.

 

What is MDMA-Assisted Psychotherapy?

In an MDMA-assisted psychotherapy session, patients take MDMA as a pill upon entering a psychiatrist’s office and then work with a team of therapists who help them divulge traumatic events or discuss aspects of those events over the course of several hours. They usually have non-MDMA sessions before the first MDMA session so they know what to expect. And they have at least one non-MDMA session after each MDMA one to work through the traumatic memories that were revealed and to learn coping strategies. A standard treatment course includes two or three multi-hour MDMA-assisted psychotherapy sessions and several non-MDMA sessions.

The MDMA products used in these sessions are pharmaceutical grade. This means that, unlike illicitly obtained street products, they do not contain other substances of abuse, such as methamphetamine, or contaminants like heavy metals, bacteria or mold. People with hypertension or those at high risk of heart attacks, strokes or arrhythmias should not participate, because they can have unsafe elevations in blood pressure and heart rate. In addition, patients are not allowed to leave for eight hours, until the effects of MDMA have fully worn off.


Assessing the Effectiveness of MDMA-Assisted Psychotherapy

In 2014, we reviewed the available animal data and the few preliminary human studies of MDMA-assisted psychotherapy, but at the time, higher-quality clinical trials had not yet been completed. But in the past few years, larger and higher-quality trials have been published, warranting an in-depth assessment.

So we recently reviewed the data comparing antidepressant use to placebos for patients with PTSD and performed a meta-analysis study of the six different clinical trials that assessed the usefulness of MDMA-assisted psychotherapy versus psychotherapy alone. All of the trials we analyzed included both men and women who had experienced a multitude of traumatic events that led to PTSD. The studies used the same points scale to determine the effectiveness of therapy, making it easier to compare data across studies. Scores above approximately 50 points mean a patient has severe PTSD, and scores reduced by more than 10 points from baseline are clinically meaningful.

We found that daily antidepressant therapy reduced PTSD by 6 to 14 points compared with the placebo, but a range of 27% to 47% of patients across the studies withdrew before the end of the trials. In contrast, MDMA-assisted psychotherapy reduced the scores by 22 points compared with those receiving psychotherapy with placebo, and patients were twice as likely to no longer meet the criteria for PTSD diagnosis by the end of the trials. In addition, only 8% of patients withdrew from MDMA-assisted psychotherapy trials. The main adverse effects included teeth grinding, jitteriness, headache and nausea. One of these MDMA trials found that participants’ blood pressure and heart rate were elevated in the course of MDMA therapy, but not to a concerning extent.

For several of the trials in our meta-analysis, investigators sent a questionnaire to participants 12 months after their last MDMA session to assess the long-term impact. Overall, 86% of participants said they received substantial benefits from the combined MDMA-assisted psychotherapy. Eighty-four percent of participants reported having improved feelings of well-being, 71% had fewer nightmares, 69% had less anxiety and 66% had improved sleep. The results from across all of the studies suggested that MDMA-assisted therapy was helping to alleviate the PTSD itself, not simply suppressing symptoms.

 

Looking Ahead

The U.S. Drug Enforcement Administration identifies MDMA and psilocybin as Schedule I controlled substances. According to the DEA, these substances have no currently accepted medical use in the U.S. and come with high abuse potential.

However, it’s worth noting an important exception. Cannabadiol, or CBD, a chemical that comes from the plant Cannabis sativa, is classified as a Schedule I drug. But the Food and Drug Administration approved its use in 2018 for the treatment of two rare and severe childhood seizure disorders. That doesn’t mean that the CBD in your lotion or seltzer has proof of benefit for most of the ills people are using it for, but its full therapeutic potential is still being explored. Given the strong consistent beneficial effects and manageable adverse events in the newer trials designed with FDA input, we suspect that MDMA-assisted psychotherapy will become an FDA-approved option for PTSD by the end of 2023. Psilocybin – commonly known as hallucinogenic mushrooms – also shows promise for treating major depression, but further research is needed.

The DEA’s stringent policies made it exceptionally hard for scientists to conduct research on Schedule I drugs for decades by criminalizing the possession of the products, even in research settings. But in 2018, the agency streamlined the application process for securing a waiver for research purposes. This made it easier for researchers to conduct trials into the pharmaceutical value of psychedelic drugs. Within the next decade, this shift will almost certainly accelerate the discovery of new treatments for patients suffering from mental illness.

 

Suggested Content



Psychedelic Medicine a Revolution for the Mind

Psychedelic Laws and Investments May Follow Cannabis’ Success





Acceptance of Psychedelics for Wellness and Recreation

Psychedelics, the Next Breakthrough in Mental Health Treatment (Video)

 

Stay up to date. Follow us:

 

Rumors of Fossil Fuels Death are Quite Premature

Posted on by Admin 


Image Credit: Bruce Fingerhood (Flickr)


While Many Investors are Shunning Coal as Yesterday’s Energy, the Industry May Have Just Entered a Supercycle

 

Investor conferences are full of companies helping investors better understand newer industries and then showcasing individual company business models and “value propositions.”  The annual NobleCon Investor conference showcases growth companies, arguably, better than any other event. While attending this year’s NobleCon, I sat in on a presentation by a company up 277% YoY and trending higher. The industry dates back to the 1700s in the US, and the product had recently been rumored to have outlived its usefulness. Yet scheduled in between small companies doing groundbreaking work in life sciences, electronic games, and high-tech trading systems was a company still breaking ground mining coal and extracting other fossil fuels. The company’s stock market returns are staggering, and the presentation (video
available here) pointed to a positive outlook both for the company and the industry.


Image: Brian Cantrell, SVP and CFO of Alliance Resource Partners, discusses the future of his company at NobleCon18


About the Company and Fossil Fuels

Alliance Resource Partners (ticker: ARLP), is the second-largest coal producer in the eastern US. Alliance markets its coal production to major domestic and international utilities and industrial users. The company derives income from coal production and oil & gas mineral interests located in seven strategic mining bases across the eastern states. The company has a market cap of $1,953m and is trading at $15.36 (April 26) up from $5.48 one year earlier.

Brian Cantrell, the CFO of ARLP, led the investor-facing presentation that highlighted his company’s challenges through the pandemic and the current stature and strength since mid-2021. The CFO explained that the price for natural gas began to rise last year, which fueled demand for less expensive coal. This was followed by what he called the “unfortunate situation in Ukraine” which is benefitting the price of fossil fuels as international consumers are weaning themselves off Russian natural gas. It’s far cheaper now to power from coal than natural gas.

Feeding into this perfect storm for coal prices has been an unwillingness of capital to support any fossil fuel projects. This has slowed any recovery from the supply shock. Also feeding into longer-term elevated prices is that fuel stockpiles had been very low where needed. There was a presumption that production could automatically respond, Cantrell explained that while it varies by unit and utility, end-users like to have 45 days’ worth on hand as a buffer to manage demand.

Today the fossil fuel industry has its own version of supply chain problems as fuel buyers are having difficulty finding producers with enough capacity to refill their buffer, which has in many cases been critically shortened. Internationally the US has been the swing producer, filling gaps outside of North America when needed with short-term, vessel-by-vessel, or quarter-by-quarter contracts. This demand has stressed the capacity to produce. Alliance has introduced artificial intelligence into its operation to create efficiencies for mining and extraction and to improve safety and productivity.

The
Future of the Industry

During the Alliance Resource Partners presentation, it was asked if current supply/demand fundamentals, because of lack of capital support, are forcing companies to live within their cash flows? Increased output may not come quick within the industry as it’s not in a position to leverage up while prices are under upward pressure; the presenter pointed out that ESG pressures are real. This could place this sector within a new supercycle.

Take-Away

Investment ideas are not limited to whatever the latest invention is. Often there is so much buzz around the “hot” “disruptive” industry that other opportunities have the potential to be overlooked.

Coal producers may be worth paying attention to for some time. Alliance’s CFO mentioned that he believes coal will continue to be an important part of power generation in the US and internationally.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading



No Punches Pulled at NobleCon18 Panel Discussion

EV Inflation Outpacing Traditional Cars





Evaluating Gold Royalty Companies to Gain Exposure to Precious Metals

Metals & Mining First Quarter 2022 Review and Outlook

 

Sources

NobleCon18 Investor Presentation,
Alliance Resources (Replay Video)

https://www.arlp.com/investor-relations/investor-overview/corporate-profile/default.aspx

 

Stay up to date. Follow us:

 

Release – electroCore Completes Sale of New Jersey Tax Benefits

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electroCore Completes Sale of New Jersey Tax Benefits

News and Market Data on electroCore

 

ROCKAWAY, N.J., 
April 26, 2022 (GLOBE NEWSWIRE) — 
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, today announced that it has completed the sale of its available tax benefits through the New Jersey Economic Development Authority’s Technology Business Tax Certificate Transfer program for fiscal year 2021. As a result, the Company has received approximately 
$445,000 in non-dilutive cash from the sale of these net operating loss (NOL) tax benefits.

“We are pleased to have received 
$445,000 from the New Jersey NOL program,” commented  Brian Posner, Chief Financial Officer of electroCore. “This is the third consecutive year that we have benefited from this program which provides us non-dilutive funding that will be beneficial to us as we continue to invest in our sales channels and marketing initiatives to expand consumer awareness of gammaCore.”

The New Jersey Technology Business Tax Certificate Transfer program enables qualified, unprofitable NJ-based technology or biotechnology companies with fewer than 225 US employees (including parent company and all subsidiaries) to sell a percentage of their NOL and research and development tax credits to unrelated profitable corporations. NOLs may be sold for at least 80 percent of their value, up to a maximum lifetime benefit of 
$20 million per business. This allows qualifying technology and biotechnology companies with NOLs to turn tax losses and credits into cash proceeds to fund their growth and operations, including research and development or other allowable expenditures.

About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine company dedicated to improving patient outcomes through its non-invasive vagus nerve stimulation therapy platform, initially focused on the treatment of multiple conditions in neurology. The company’s current indications are the preventive treatment of cluster headache and migraine, the acute treatment of migraine and episodic cluster headache, the acute and preventive treatment of migraines in adolescents, and paroxysmal hemicrania and hemicrania continua in adults.

For more information, visit www.electrocore.com.

About gammaCore™
gammaCore™ (nVNS) is the first non-invasive, hand-held medical therapy applied at the neck to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable, easy-to-use technology, gammaCore is self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.

gammaCore (nVNS) is FDA cleared in 
the United States for adjunctive use for the preventive treatment of cluster headache in adult patients, the acute treatment of pain associated with episodic cluster headache in adult patients, and the acute and preventive treatment of migraine in adolescent (ages 12 and older) and adult patients, and paroxysmal hemicrania and hemicrania continua in adult patients. gammaCore is CE-marked in the 
European Union for the acute and/or prophylactic treatment of primary headache (Migraine, Cluster Headache, Trigeminal Autonomic Cephalalgias and Hemicrania Continua) and Medication Overuse Headache in adults.

gammaCore is contraindicated for patients if they:

  • Have an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic device
  • Have a metallic device, such as a stent, bone plate, or bone screw, implanted at or near the neck
  • Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)

Safety and efficacy of gammaCore have not been evaluated in the following patients:

  • Adolescent patients with congenital cardiac issues
  • Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
  • Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
  • Pediatric patients (less than 12 years)
  • Pregnant women
  • Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia

For more information, please visit gammaCore.com

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements regarding electroCore’s business prospects, its sales and marketing and product development plans, future cash flow projections, anticipated costs, its product portfolio or potential markets for its technologies, the availability and impact of payor coverage, the potential of nVNS generally and gammaCore in particular to treat COVID-19, and other statements that are not historical in nature, particularly those using terminology such as “anticipates,” “expects,” “believes,” “intends,” other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to obtain additional financing necessary to continue electroCore’s business, sales and marketing and product development plans, the uncertainties inherent in the development of new products or technologies, the ability to successfully commercialize gammaCore™, competition in the industry in which electroCore operates and general market conditions. All forward-looking statements are made as of the date of this press release, and electroCore undertakes no obligation to update forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should refer to all information set forth in this document and should also refer to the disclosure of risk factors set forth in the reports and other documents electroCore files with the
SEC, available at www.sec.gov.

Contact:
Rich Cockrell

CG Capital
404-736-3838
ecor@cg.capital

Release – Comstock Announces First Quarter 2022 Webcast

Posted on by Admin



Comstock Announces First Quarter 2022 Webcast

Research, News, and Market Data on Comstock Mining

 

VIRGINIA CITY, NEVADA, APRIL 25, 2022 – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced that it will host a conference call on Tuesday, May 3, 2022, at 8:00 a.m. Pacific Daylight Time (11:00 a.m. Eastern Daylight Time) to report its First Quarter 2022 results and business updates. The webcast will include a moderated question and answer session after the Company’s prepared remarks.  Please click the link below to register in advance and please join the event at least 10 minutes prior to the scheduled start time.

Once registered, you will receive a confirmation email containing information about joining the Webcast.

May 3, 2022, 08:00 AM Pacific Daylight Time / 11:00 AM Eastern Daylight Time (US and Canada)

Topic: Comstock’s Q1 2022 Results and Business Update

Please click here to register in advance for this webcast.

About Comstock 

Comstock (NYSE: LODE) innovates technologies that enable systemic decarbonization and circularity by efficiently converting under-utilized wasted and other natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. To learn more, please visit www.comstock.inc.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future changes in our research and development; and future prices and sales of, and demand for, our products and services. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related call or discussion constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

  Contact information:    
Comstock Mining Inc.
P.O. Box 1118
Virginia City, NV 89440
ComstockMining.com		 Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com		 Zach Spencer
Director of External Relations
Tel (775) 847-5272 Ext.151
questions@comstockmining.com

Comtech (CMTL) – NobleCon 18 Presentation Notes

Posted on by Admin

Monday, April 25, 2022

Comtech (CMTL)
NobleCon 18 Presentation Notes

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

    NobleCon18. Comtech Telecommunications VP of Investor Relations Robert Samuel and CFO Michael Bondi presented at NobleCon18. The company’s management highlighted two of its growing markets, the next generation 911 solutions and its satellite ground station equipment. A rebroadcast is available here.

    NG911 Highlights.  In the presentation, the Company showed an emphasis in the growth of its next-gen 911 business, highlighting that it is only one of two companies in the United States that has a 911 routing service. The acquisition pipeline in this segment remains robust according to management, and we would not count out additional acquisitions in the 911 business …

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